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InPlay Oil (IPOOF)(IPO:CA) – InPlay was the third best performer in the OTCQX 50 2022 list

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Wednesday, January 26, 2022

InPlay Oil (IPOOF)(IPO:CA)
InPlay was the third best performer in the OTCQX 50 2022 list

As of April 24, 2020, Noble Capital Markets research on InPlay Oil is published under ticker symbols (IPOOF and IPO:CA). The price target is in USD and based on ticker symbol IPOOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQZ Exchange under the symbol IPOOF.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

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

    IPOOF ranks high in the annual OTCQX survey. The survey ranks over 11,000 stocks based on an equal weight of stock performance and average daily dollar volume growth in 2021. The shares of IPOOF, which rose 254% in 2021, continued their climb so far in 2022 reaching a peak of $2.69 or 937% above the starting point for 2021. The shares have fallen a bit in the last few days along with the overall market, but still remain near peak levels. Average daily volumes, which were below 5,000 shares at the beginning of 2021 have crossed 100,000 several of the last trading days.

    There are many reasons for the share strength.  Certainly higher oil and gas prices have helped the shares. However, we believe the successful drilling of Cardium wells in the Pembina play was the primary reason for the share strength as management raised production and sash flow guidance several times. We are especially excited about a tuck-in acquisition that the company made in the fall that …



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) – Well Positioned For 2022

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Wednesday, January 26, 2022

Eagle Bulk Shipping (EGLE)
Well Positioned For 2022

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.

    Favorable Dry Bulk Market Outlook Intact, Albeit with Volatility. While overall TCE rates have dropped recently due to weather disruptions and seasonality and the forward cover is low, the 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 (EEXI) could trigger slow steaming that effectively lowers supply.

    Well Positioned Entering 2022.  Several milestones were achieved over the past five years and the moves enhanced the competitive position moving into this year. The fleet renewal program improved the fleet profile, the commercial strategy has consistently outperformed the market, the capital structure has been simplified with a global refinancing in 4Q2021, access to equity capital markets has …



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. 

Capstone Green Energy (CGRN) – New contract keeps Capstone on track to meet rental goal Example of more to come

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Wednesday, January 26, 2022

Capstone Green Energy (CGRN)
New contract keeps Capstone on track to meet rental goal. Example of more to come?

Capstone Green Energy Corp is the producer of low-emission microturbine systems.The company develops, manufactures, markets and services microturbine technology solutions for use in stationary distributed power generation applications. Capstone Turbine’s products include onboard generation for hybrid electric vehicles; conversion of oil field and biomass waste gases into electricity; combined heat, power, and chilling solutions; capacity addition; and standby power.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

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

    Capstone signed a 4 MW two-year, EAAS contract with a new customer in the cryptocurrency space. Recall that Capstone is moving toward increased Energy As A Service (EAAS) sales and is seeking to increase equipment rentals to 21 megawatts by this spring from a September level of 13.1 MW. Today’s announcement places the company on track to meet its goal.

    The new customer is in a fast growing space that plays off of Capstone’s experience with exploration and production companies.  The customer is located on an oil and gas well and will use waste gas emissions to perform large volume, blockchain and cryptocurrency mining. Capstone has a history of serving exploration and production customers. We believe the use of small generators using gas waste to …



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. 

Indonesia Energy Corp (INDO) – Indo closes on a $5 million private placement to support drilling

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Wednesday, January 26, 2022

Indonesia Energy Corp (INDO)
 Indo closes on a $5 million private placement to support drilling

Indonesia Energy Corp Ltd is an oil and gas exploration and production company focused on Indonesia. It holds two oil and gas assets through its subsidiaries in Indonesia: one producing block (the Kruh Block) and one exploration block (the Citarum Block). The Kruh Block is located to the northwest of Pendopo, Pali, South Sumatra. The Citarum Block is located to the south of Jakarta.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

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

    Indonesia Energy announced the closing of the initial $5.0 million tranche of a total anticipated $7.0 million private placement. The sale of a senior convertible note with a 6.0% discount and an 18-month maturity includes a five year warrant to purchase shares at an exercise price of $6.00 per share. Proceeds to the company were $4.7 million after expenses.

    Indo’s cash position has slipped due to expenditures and production delays.  Indo’s cash position, which was as high as $16 million after its initial public offering, had fallen to $6 million at the end of June (latest reported financial numbers) due to normal operating costs and the drilling of two wells in the Kruh Block. The company had hoped to use cash flow from new wells to fund additional …



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. 

Release – Aurania Provides Update On Operations

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Aurania Provides Update On Operations

Research, News, and Market Data on Aurania Resources

 

Toronto, Ontario, January 26, 2022 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) provides an update on its operations and announces a temporary suspension of most activities at its Lost Cities-Cutucu project in southeastern Ecuador as a result of recent COVID-19 guidelines.

There are currently 9 active COVID cases among our personnel and our General Manager is in quarantine because a family member is infected. Ecuador is beginning to experience an increase in the number of cases nationwide, and on January 16th a “Red Alert” was issued by the Ecuador Government for 193 of 195 Cantons.  We are required under Ecuadorian law to follow the guidelines imposed by the Ministry of Health and the Ministry of Labour and the protocols that we were required to submit to the Government last year.  Because the Omicron Variant appears to be much more transmissible than any other COVID variant to date, we are taking the decision to suspend the majority of our field activities more or less over the next month in order to protect our employees and the local communities in which we operate.  Where possible we may continue field work with a reduced contingent in those remote areas where there is no interaction with local communities.

Laboratory analyses have been received from hole TSN1-009 at Tsenken, designed to sample the contact of a “salt wall” lying along a prominent fault structure.  Such sites have historically yielded abundant copper from projects in Peru and so the drill hole was meant to test an analogous geological setting.  The hole collapsed due to caving in salt at a downhole depth of 369 metres.  It was projected to intersect the target area at 400-500 metres.  Low anomalous copper and silver were returned from a 9-metre interval downhole at 321 to 331 metres.  Within this intersection breccia clasts containing chalcocite, a copper sulphide, were noted.

Sample Analysis & Quality Assurance / Quality Control (“QAQC”)

Laboratories: The samples were prepared for analysis at MS Analytical (“MSA”) in Cuenca, Ecuador, and the analyses were done in Vancouver, Canada.

Sample preparation: The rock samples were jaw-crushed to 10 mesh (crushed material passes through a mesh with apertures of 2 millimetres (“mm”)), from which a one-kilogram sub-sample was taken.  The sub-sample was crushed to a grain size of 0.075mm and a 200 gram (“g”) split was set aside for analysis.

Analytical procedure:  Approximately 0.25g of rock pulp underwent four-acid digestion and analysis for 48 elements by ICP-MS.  For the over-limit samples, those that had a grade of greater than 1% copper, zinc and lead, and 100g/t silver, 0.4 grams of pulp underwent digestion in four acids and the resulting liquid was diluted and analyzed by ICP-MS.

QAQC: Aurania personnel inserted a certified standard pulp sample, alternating with a field blank, at approximate 20 sample intervals in all sample batches. Aurania’s analysis of results from its independent QAQC samples showed the batches reported on above, lie within acceptable limits.  In addition, the labs reported that the analyses had passed their internal QAQC tests.

Qualified Person

The geological information contained in this news release has been reviewed and approved by Jean-Paul Pallier, MSc. Mr. Pallier is a designated EurGeol by the European Federation of Geologists and is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

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 – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedar.com, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at  https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir

VP Investor Relations

Aurania Resources Ltd.

(416) 367-3200

carolyn.muir@aurania.com

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

 

Forward-Looking Statements

This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurania. Forward-looking statements include estimates and statements that describe Aurania’s future plans, objectives or goals, including words to the effect that Aurania or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Aurania, Aurania provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to Aurania’s objectives, goals or future plans, statements, exploration results, potential mineralization, the corporation’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, the effects of COVID-19 on the business of the Company including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restrictions on labour and international travel and supply chains, and those risks set out in Aurania’s public documents filed on SEDAR. Although Aurania believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Aurania disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Release – Avivagen Announces CEO Update to Shareholders

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Avivagen Announces CEO Update to Shareholders

Research, News, and Market Data on Avivagen

 

Ottawa, ON /Business Wire/ January 26, 2022 /– Avivagen Inc.  (TSXV:VIV, OTCQB:VIVXF) (“Avivagen” or the “Company”), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely enhances feed intake and supports immune function, thereby supporting general health and performance, announces a CEO update to shareholders.

To our shareholders,

2021 was a year of challenge for all industries, with the global feed production industry no exception. With higher input costs that could not be passed along to consumers, ongoing COVID-19 pandemic concerns and worldwide supply chain challenges, many producers experienced financial difficulties and retrenchment, impacting every supplier they do business with – including Avivagen[i].

However, it appears that the environment is now becoming more favourable. After a period of delays numerous important Avivagen customers tell us they expect to ramp up activities in 2022. In turn, purchases of OxC-betaTM Livestock are anticipated to scale up, reaching volumes more in line with previous expectations. We’re seeing continued progress with trials and regulatory processes, and discussions with prospective customers, potential distribution partners and stakeholders worldwide are advancing.

We feel we are in the early days of resuming our growth plans and we are excited for what is on the horizon. Given developments in the broader market and within our Company, we feel now is a suitable time to provide and update on the recent progress that has been made and our outlook on the months and year ahead.

New leadership for a new stage of growth
As a part of our ongoing commitment to building the best possible team for the future of our business, we recently announced the appointment of Jamie Nickerson to the role of President, effective January 25, 2022. Jamie has been a core member of the Avivagen team for 15 years, most recently becoming the main contact with  many of our most important and lucrative relationships and developing new applications for our OxC-betaTM product as Vice President of Business Development and Innovation.  Few understand the Avivagen science, value proposition, market and business opportunity as completely as Jamie, making him the perfect individual to lead the next phase of growth for the Company.

This year we established important new relationships through our Mexico-based partner, Meyenberg International Group that will help spearhead expansion efforts in Central and South America. We also added Mr. Lesley Nernberg as a technical sales and marketing consultant with the goal of accelerating the adoption of OxC-betaTM Livestock in multiple Asian markets.

Strategic partnerships and regulatory milestones
This fall we announced a transformative supply agreement with AB Vista to expand marketing and sale of OxC-betaTM Livestock in high value markets such the United States, Brazil and Thailand. Trials with several AB Vista customers are already underway and we expect sales from this partnership to start and grow steadily throughout 2022. We also continue to seek similar strategic partnerships in additional major global feed markets.

We have continued our efforts to expand regulatory approval for use of our products and are expecting approvals for livestock use in both Vietnam and China over the coming months. In anticipation of these approvals, we have initiated discussions with both prospective customers and distributors in both markets.  Our previously announced distribution partner for Philippines, Inphilco, has successfully registered their own branded OxC-beta-based product and are beginning trials with several of its local customers. We are actively working towards new regulatory approvals in five key regions in South America and expect other regulatory developments for both companion animals (Vivamune) and humans.

Growing recognition from the scientific community
A recent analysis published in the Lancet, an international medical journal, reports that antibiotic resistance kills more than one million people each year– proving the critical need for safe and suitable alternatives to antibiotics[ii]. Concurrently, there has a marked increase in both the recognition and acceptance of our technology, due in part to a number of papers appearing in top-tier scientific publications – including several reaffirming the safety and utility of using OxC-betaTM Livestock as an alternative to antibiotics in broilers, sows and cows. These include:

  • Kang, M., Oh, J.Y., Cha, S.Y., Kim, W.I., Cho, H.S., Jang, H.K., 2018. Efficacy of polymers from spontaneous carotenoid oxidation in reducing necrotic enteritis in broilers. Poultry Sci. 97, 3058-3062 doi: 10.3382/ps/pey180.
  • Chen, J., Chen, J., Zhang, Y., Lv, Y., Qiao, H., Tian, M., Cheng, L., Chen, F., Zhang, S., Guan, W., 2020. Effects of maternal supplementation with fully oxidised ?-carotene on the reproductive performance and immune response of sows, as well as the growth performance of nursing piglets. Brit. J. Nutr., 1-9 doi: 10.1017/S0007114520002652.
  • Riley, W.W., Nickerson, J.G., Burton, G.W., 2021. Effect of Oxidized ?-Carotene on the Growth and Feed Efficiency of Broilers. Poultry Sci., 101088 doi: https://doi.org/10.1016/j.psj.2021.101088.
  • Burton, G.W., Mogg, T.J., Riley, W.W., Nickerson, J.G., 2021. Beta-Carotene oxidation products – Function and safety. Food Chem. Toxicol. 152, 112207 doi: 10.1016/j.fct.2021.112207.
  • Mogg, T.J., Burton, G.W., 2021. The ?-carotene–oxygen copolymer: its relationship to apocarotenoids and ?-carotene function. Can. J. Chem. 99, 751-762 doi: 10.1139/cjc-2021-0006.
  • McDougall, S., 2021. Evaluation of fully oxidised ?-carotene as a feed ingredient to reduce bacterial infection and somatic cell counts in pasture-fed cows with subclinical mastitis. N.Z. Vet. J., 1-9 doi: 10.1080/00480169.2021.1924091.

 

Positive customer developments signal opportunity in 2022 and beyond
A tough economic environment led many feed producers in markets worldwide to scale back in 2021, a reality that directly impacted our key relationships in Mexico in particular. However, customers such as Industrias Melder and Tranformadora appear to be entering 2022 on much stronger footing, meaning significant commercial agreements previously secured could resume shortly. Additionally, successful trials have been completed with large and well-known dairy and poultry producers in Mexico which we expect should result in new orders placed within the coming weeks. We have also secured a number of smaller but important agreements in Asia that will diversify our customer base and product applications over the coming years. In the companion animal space, our Vivamune dog chews have been successfully introduced in Taiwan and our OxC-beta product is being used as a cornerstone ingredient in a premium dog food brand.

A new look for Avivagen
Our recently relaunched website could be seen as a marker for the next phase of Avivagen as a company, as we build off of the foundational success achieved to date and enter a period of new leadership and growth over the coming months and years. We have seen early success in numerous key markets, and with growing recognition from the scientific community and regulatory authorities we believe Avivagen is poised to grow that number. We have established important and lucrative relationships in many of the largest feed-producing markets in the world and secured expert support to help us develop new relationships that will enable growth in our livestock, companion animal and human nutrition businesses.

After two years of global uncertainty there are brighter and healthier days on the horizon.

None of this would be possible without the partnership and support of our shareholders. I thank you for your continued confidence in Avivagen, its leadership and its vision as we move into the next phase of growth.

Sincerely,

Kym Anthony
Chief Executive Officer

About Avivagen
Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that, by safely supporting immune function, promote general health and performance.  It is a public corporation traded on the TSX Venture Exchange under the symbol VIV and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada. For more information, visit www.avivagen.com. The contents of the website are expressly not incorporated by reference in this press release.

About OxC-beta™ Technology and OxC-beta™ Livestock
Avivagen’s OxC-beta™ technology is derived from Avivagen discoveries about ?-carotene and other carotenoids, compounds that give certain fruits and vegetables their bright colours. Through support of immune function the technology provides a non-antibiotic means of promoting health and growth. OxC-beta™ Livestock is a proprietary product shown to be an effective and economic alternative to the antibiotics commonly added to livestock feeds. The product is currently available for sale in the United States, Philippines, Mexico, Taiwan, New Zealand, Thailand, Brazil, Australia, and Malaysia.

Avivagen’s OxC-beta™ Livestock product is safe, effective and could fulfill the global mandate to remove all in-feed antibiotics as growth promoters. Numerous international livestock trials with poultry and swine using OxC-beta™ Livestock have proven thatproduct performs as well as, and, sometimes, in some aspects, better than in-feed antibiotics.

Forward Looking Statements
This news release includes certain forward-looking statements that are based upon the current expectations of management. Forward-looking statements involve risks and uncertainties associated with the business of Avivagen Inc. and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “aim”, “anticipate”, “appear”, “believe”, “consider”, “could”, “estimate”, “expect”, “if”, “intend”, “goal”, “hope”, “likely”, “may”, “plan”, “possibly”, “potentially”, “pursue”, “seem”, “should”, “whether”, “will”, “would” and similar expressions.

Statements set out in this news release relating to Avivagen’s expectation that customers will ramp up activities in 2022, expected growth in demand and orders for Avivagen’s products, the timing, outcomes and potential benefits of trials and regulatory processes underway, the potential for regulatory approval in additional jurisdictions, the expectations that current partner and customer discussions will result in agreements and orders that are beneficial to Avivagen, the expected resumption of orders and shipments to customers in Mexico, Avivagen’s ability to diversify its customer base in the future and the possibility for OxC-beta™ Livestock to replace antibiotics in livestock feeds as growth promoters are forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. For instance, the industry and Avivagen’s customers may not rebound as quickly as expected, COVID or another event outside their control could impact customer and partner buying decisions, demand may not increase or stay at the same levels for Avivagen products, trials may not be completed or the results of trials may not result in benefits to Avivagen, Avivagen’s products may not gain market acceptance or regulatory approval in new jurisdictions or for new applications and may not be widely accepted as a replacement for antibiotics as growth promoters in livestock feeds due to many factors, many of which are outside of Avivagen’s control.  Readers are referred to the risk factors associated with the business of Avivagen set out in Avivagen’s most recent management’s discussion and analysis of financial condition available at www.SEDAR.com. Except as required by law, Avivagen assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information:
Avivagen Inc.
Drew Basek
Director of Investor Relations
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6 Phone: 416-540-0733
E-mail: d.basek@avivagen.com

Kym Anthony
Chief Executive Officer
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6 Head Office Phone: 613-949-8164
Website: www.avivagen.com
Copyright © 2022 Avivagen Inc. OxC-beta™ is a trademark of Avivagen Inc.

 

[ii] The Financial Times, January, 2022  Antibiotic resistance kills over 1m people a year says study _ Financial Times.pdf

Release – Schwazze Closes Acquisition Of Drift

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Schwazze Closes Acquisition Of Drift

Research, News, and Market Data on Schwazze

 

Expanding Retail Footprint in Boulder County, Colorado

OTCQX: SHWZ

DENVER, Jan. 26, 2022 /CNW/ – Schwazze, (OTCQX:SHWZ) (“Schwazze” or the “Company”), is pleased to announce that it has closed the transaction to acquire the assets of BG3 Investments, LLC dba Drift which consists of two cannabis dispensaries located in Boulder, Colorado. This purchase continues Schwazze’s expansion plan in Colorado, adding to the Company’s current dispensary footprint, and bringing the total number of dispensaries to twenty. As part of the purchase, Schwazze will also acquire the assets of Black Box Licensing, LLC, which contains certain intellectual property.

“We look forward to adding these dispensaries to our portfolio. The Company remains focused on bringing excellent shopping experiences to all areas of Colorado by providing a wide assortment of quality products along with great service that our customers have come to expect from our brands.  We are excited to bring that experience to our customers in Boulder,” said Nirup Krishnamurthy, Schwazze’s COO.

The consideration for the acquisition was $3.5 million and was paid as $1.9 million in cash, and $1.6 million in common stock.

Corporate Update
Since April 2020, Schwazze has announced and/or acquired a total of 32 cannabis dispensaries, including the ten R. Greenleaf New Mexico dispensaries.  The Company has also announced and/or acquired in 2021 a total of seven cultivation facilities, three in Colorado – SCG Holding LLC, Brow 2 LLC and Star Buds – and four licensed by Medzen and RGO in New Mexico.  The R. Greenleaf acquisition will add a New Mexico manufacturing asset, Elemental Kitchen & Laboratories, LLC, to the Company’s manufacturing plant, Purplebee’s in Colorado.

In May 2021, Schwazze announced its BioSciences division and in August 2021 it commenced home delivery services in Colorado.

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 “may,” “estimates”, “predicts,” or similar words. Forward-looking statements are not guarantees of future 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 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 identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses and realize synergies therefrom, (ix) the actual revenues derived from the Company’s Star Buds assets, * the Company’s actual revenue and adjusted EBITDA for 2021, (xi) the Company’s ability to generate positive cash flow for the rest of 2021 (xii) the ongoing COVID-19 pandemic, (xiii) the timing and extent of governmental stimulus programs, and (xiv) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws. 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 – Avivagen Announces Appointment of James Nickerson as President

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Avivagen Announces Appointment of James Nickerson as President

Research, News, and Market Data on Avivagen

 

Ottawa, ON /Business Wire/ January 25, 2022 /– Avivagen Inc.  (TSXV:VIV, OTCQB:VIVXF) (“Avivagen”), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely enhances feed intake and supports immune function, thereby supporting general health and performance, is excited to announce the appointment of James  (“Jamie”) Nickerson, PhD as President of Avivagen. The appointment will be effective immediately.

“Jamie has been one of the most important members of Avivagen since the early days of the organization. His impressive track record contributing to both the science behind our offerings, as well as the growth of the business surrounding them, makes him the perfect individual to lead the next phase of growth for our company,” says Kym Anthony, Chief Executive Officer of Avivagen. “I look forward to working closely with Jamie as he establishes himself in the role and assumes leadership of Avivagen during this exciting and important stage of the company’s success.”

Currently Mr. Nickerson holds the role of Vice President of Business Development and Innovation for Avivagen. In this role he has been crucial in identifying and establishing a number of the strategic and  important customer and distribution partner relationships that are core to Avivagen’s ongoing growth and global expansion. He has also been central in finding new applications for the company’s OxC-beta™  product in both the animal and human nutrition fields.

Upon joining Avivagen in 2007, Mr. Nickerson established Avivagen’s Charlottetown biological research facility and directed the research and development program as senior research biologist. Over the next 15 years he held progressively senior roles within the company, including Director of Biology and Director of Commercialization Science, prior to taking over Business Development and Innovation responsibilities. During this period he also co-authored six scientific papers on Avivagen’s oxidized carotenoid technology platform, and is listed as an author on seven patents relating to the company’s product.

“I’ve been proud to be a part of the Avivagen journey for the past 15 years and am very excited to have the opportunity to lead this exciting next phase of the company,” said Mr. Nickerson. “We have laid the foundation to become an important global player in the future of both animal and human nutrition at a time when antibiotic effectiveness is waning in both areas. There is a bright future ahead for Avivagen, and I look forward to working closely with our team, our customers, our partners and our shareholders to take full advantage of the opportunities at hand.”

About Avivagen

Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that, by safely supporting immune function, promote general health and performance.  It is a public corporation traded on the TSX Venture Exchange under the symbol VIV and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada. For more information, visit www.avivagen.com. The contents of the website are expressly not incorporated by reference in this press release.

About OxC-beta™ Technology and OxC-beta™ Livestock

Avivagen’s OxC-beta™ technology is derived from Avivagen discoveries about ?-carotene and other carotenoids, compounds that give certain fruits and vegetables their bright colours. Through support of immune function the technology provides a non-antibiotic means of promoting health and growth. OxC-beta™ Livestock is a proprietary product shown to be an effective and economic alternative to the antibiotics commonly added to livestock feeds. The product is currently available for sale in the United States, Philippines, Mexico, Taiwan, New Zealand, Thailand, Brazil, Australia, and Malaysia.

Avivagen’s OxC-beta™ Livestock product is safe, effective and could fulfill the global mandate to remove all in-feed antibiotics as growth promoters. Numerous international livestock trials with poultry and swine using OxC-beta™ Livestock have proven that the product performs as well as, and, sometimes, in some aspects, better than in-feed antibiotics.

Forward Looking Statements

This news release includes certain forward-looking statements that are based upon the current expectations of management. Forward-looking statements involve risks and uncertainties associated with the business of Avivagen Inc. and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “aim”, “anticipate”, “appear”, “believe”, “consider”, “could”, “estimate”, “expect”, “if”, “intend”, “goal”, “hope”, “likely”, “may”, “plan”, “possibly”, “potentially”, “pursue”, “seem”, “should”, “whether”, “will”, “would” and similar expressions.

Statements set out in this news release relating to the future growth and prospects for Avivagen and the possibility for OxC-beta™ Livestock to replace antibiotics in livestock feeds as growth promoters are forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. For instance, Avivagen’s products may not gain market acceptance or regulatory approval in new jurisdictions or for new applications and may not be widely accepted as a replacement for antibiotics as growth promoters in livestock feeds due to many factors, many of which are outside of Avivagen’s control.  Readers are referred to the risk factors associated with the business of Avivagen set out in Avivagen’s most recent management’s discussion and analysis of financial condition available at www.SEDAR.com. Except as required by law, Avivagen assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

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

For more information:
Avivagen Inc.
Drew Basek
Director of Investor Relations
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6 Phone: 416-540-0733
E-mail: d.basek@avivagen.com

Kym Anthony
Chief Executive Officer
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6 Head Office Phone: 613-949-8164
Website: www.avivagen.com
Copyright © 2022 Avivagen Inc. OxC-beta™ is a trademark of Avivagen Inc.

Release – Capstone Green Energy Announces New 4 MW Two-Year EaaS Contract

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Capstone Green Energy Announces New 4 MW, Two-Year EaaS Contract – Plans to Expand Rental Fleet to 21.1 MW by March 31, 2022

 

Remote Data Center Located on Oil & Gas Well Handles Cryptocurrency Mining

VAN NUYS, Calif.–(BUSINESS WIRE)– Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) (“Capstone,” the “Company,” “we” or “us”), a global leader in carbon reduction and on-site resilient green energy as a service (EaaS) solutions, announced today that it has entered into a 4 megawatt (MW), two-year, long-term rental contract with a new end-use customer in the cryptocurrency mining space. The new two-year contract represents another 4 MW of clean Energy as a Service (EaaS) rental systems, and continues Capstone Green Energy’s expansion of its current long-term rental fleet to 21.1 MW by March 31, 2022.

“Capstone continues to expand its EaaS business, including its long-term rental program. This is an important element in achieving our near-term profitability goals as rentals generate higher contribution margin rates than traditional product sales,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “With this new 4 MW, long-term contract and the existing pipeline of rental projects, we expect to reach our goal of a 21.1 MW rental fleet by March 31, 2022,” concluded Mr. Jamison.

Located on an oil and gas well, this remote data center handles large volume, blockchain and cryptocurrency mining. The customer approached Capstone looking for an innovative way to take advantage of their existing on-site associated production gas, a byproduct that would otherwise be released into the atmosphere.

Because Capstone microturbines are designed to offer fuel flexibility, the system will use the waste gas, essentially as free fuel, a benefit that not only reduces emissions but also offers operational savings. Further, the added reliability, low emissions, and nominal maintenance requirements of microturbine-based rental systems make them an ideal solution for remote locations, which can be hard to reach and often deal with challenging climate conditions.

Cryptocurrency mining is the process by which new crypto “coins” are entered into circulation. Their production requires highly sophisticated computers, often in a data center, to solve complex computational math problems. By their very nature, data centers require tremendous amounts of electricity. At a time when the utility grid is strained due to extreme weather, aging infrastructure, and inadequate transmission, on-site power provides a resilient, cost-effective alternative for energy-intensive facilities.

By offering customers Energy as a Service, Capstone Green Energy is strengthening its commitment to creating smarter energy for a cleaner future, as carbon reduction continues to have ever-increasing value to global customers.

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

Source: Capstone Green Energy Corporation

Release – Comtech Telecommunications Corp Board Unanimously Rejects Unsolicited Offer From Acacia Research Corporation

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Comtech Telecommunications Corp. Board Unanimously Rejects Unsolicited Offer From Acacia Research Corporation

Research, News, and Market Data on Comtech Telecommunications

 

Proposal Grossly Undervalues Comtech and is Not in the Best Interests of Comtech’s Shareholders

Board Affirms Confidence in Strategy and Long-Term Outlook for the Business

MELVILLE, N.Y.–(BUSINESS WIRE)–Jan. 25, 2022– 
January 25, 2022 — 
Comtech Telecommunications Corp. (NASDAQ: CMTL), a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies, announced today that the Company’s Board of Directors has unanimously rejected the unsolicited proposal to acquire 
Comtech received from Acacia Research Corporation (Acacia) on 
October 29, 2021.

The Comtech Board of Directors, including the recently appointed members, carefully evaluated the proposal in consultation with the Board’s independent advisors and determined that the proposal grossly undervalues the Company and is not in the best interests of Comtech’s shareholders.

The Comtech Board’s unanimous conclusion regarding the inadequacy of Acacia’s proposal is based on the following key considerations:

  • Comtech has made strategic investments in innovative technologies that position the Company to capitalize on large, long-term renewal cycles in the 911 public safety and satellite and space communication markets.
  • Structural changes in these markets are expected to drive significant long-term growth driven by multi-year investment cycles that are well-aligned with Comtech’s core capabilities, products, and services.
  • Comtech is already beginning to see the long-term benefits of these investments and end market trends, which have created a number of large-scale opportunities being pursued by the Company. As such, the Company’s Board and management remain highly confident in Comtech’s long-term business outlook and believe the Company is well positioned to create significant value for its shareholders.

Based on the foregoing considerations, among others, the Board unanimously determined that the non-binding Acacia proposal grossly undervalues the Company, does not reflect the transformational changes underway in the Company’s end-markets and the significant inherent value in the Company’s plan, and, thus, is not in the best interests of the Company and its shareholders.

Goldman Sachs is serving as exclusive financial advisor to 
Comtech and 
Proskauer Rose and 
Sidley Austin are serving as legal advisors.

About Comtech

Comtech Telecommunications Corp. is a leading global provider of next-generation 911 emergency systems and secure wireless communications technologies to commercial and government customers around the world. Headquartered in 
Melville, New York and with a passion for customer success, 
Comtech designs, produces and markets advanced and secure wireless solutions. For more information, please visit www.comtechtel.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.

Comtech Investor Relations:
631-962-7005
investors@comtech.com

Source: 
Comtech Telecommunications Corp.

Newrange Gold Corp. (NRGOF)(NRG:CA) – Drilling at North Birch to Commence in Early February

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Tuesday, January 25, 2022

Newrange Gold Corp. (NRGOF)(NRG:CA)
Drilling at North Birch to Commence in Early February

As of April 24, 2020, Noble Capital Markets research on Newrange Gold is published under ticker symbols (NRGOF and NRG:CA). The price target is in USD and based on ticker symbol NRGOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Newrange Gold Corp is an exploration stage company focused on acquiring and exploring exploration and evaluation assets in Colombia and the United States. The Company operates in a single reportable operating segment-the acquisition, exploration, and development of mineral properties. Some of the projects acquired by the company are Pamlico gold project in Nevada and Rocky mountain project in Colorado. The company also holds an interest in the Yarumalito property, El Dovio property and Anori property in Colombia.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

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

    North Birch and Argosy drilling programs. Drilling at North Birch is expected to begin in early February with at least five holes planned along approximately three kilometers of strike on the main target horizon. At the past-producing Argosy gold mine, first phase drilling will begin in March and test the depth of known veins below historic mine workings and the continuity of other veins.

    Geophysical surveys inform drilling at North Birch.  In April 2021, Newrange completed an induced polarization (IP) survey over the eastern portion of the North Birch project area covering the main target horizon. The survey revealed several well-defined chargeability anomalies which will be targeted for drilling that coincide with the target horizon along the limb of the sheared and folded iron …



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. 

Great Bear Resources (GTBAF)(GBR:CA) – Special Meeting To Approve Acquisition by Kinross Scheduled for February 14

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Tuesday, January 25, 2022

Great Bear Resources (GTBAF)(GBR:CA)
Special Meeting To Approve Acquisition by Kinross Scheduled for February 14

Noble Capital Markets research on Great Bear Resources is published under ticker symbols GTBAF and GBR:CA. The price target is in USD and based on ticker symbol GTBAF. Great Bear Resources Ltd is a gold exploration company. It explores for mineral properties in the Red Lake District in Ontario, Canada. Its property portfolio includes Great Bear’s Red Lake Properties with the flagship Dixie project, Pakwash property, and Sobel property.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

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

    Special meeting of security holders on February 14. A special meeting of security holders will be held on February 14 at 10:00 am PT to consider and approve the proposed acquisition of Great Bear Resources by Kinross Gold Corporation (TSX: K, NYSE: KGC) that was announced on December 8, 2021. The meeting will be held virtually via live audio webcast. A management information circular, along with other materials, were mailed to shareholders and contain important instructions.

    Terms of the transaction.  Great Bear shareholders will have the option to receive either: 1) C$29.00 in cash, or 2) 3.8564 Kinross shares per Great Bear share, subject to pro-ration, up to aggregate maximums of 75% cash and 40% Kinross shares on a fully diluted basis. The agreement also provides contingent consideration for Great Bear shareholders based on certain milestones …



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. 

Release – Sierra Metals Reports 2021 Production Results 2022 Guidance To Be Provided With Year-End Financial Results

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Sierra Metals Reports 2021 Production Results, 2022 Guidance To Be Provided With Year-End Financial Results

Research, News, and Market Data on Sierra Metals

 

(All $ figures reported in USD)

  • Consolidated mill throughput increased 3% mainly due to higher throughput at Yauricocha and Cusi. Lower throughput at Bolivar.
  • Copper equivalent production decreased 24% in 2021 compared to 2020, due to lower grades and COVID-19 related operational difficulties during the year.

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to report fourth quarter 2021 and full year 2021 production results, which include results from Sierra Metals’ three underground mines: The Yauricocha polymetallic mine in Peru, and the Bolivar copper and Cusi silver mines in Mexico.

Luis Marchese, CEO of Sierra Metals, commented: “2021 has been quite a difficult year for the company. Declining grades were coupled with unprecedented COVID-related operational difficulties at our three operations. For 2022, although Cusi and Yauricocha are approaching normalized operations and staffing, Bolivar needs to accelerate infill drilling and mine development in order to increase the availability of ore during the first six months of 2022.”

As stated during Q3 2021 financial results, there were several operational issues at the Bolivar Mine, including lack of equipment and decreased workforce availability which impacted mine development, infill drilling and head grades. Bolivar’s fourth quarter production reflects the continued challenges due to these temporary factors and consequently, consolidated production was below guidance for the year. While efforts are underway to normalize operations, we maintain our expectation that it will take at least until the end of Q2 2022 to catch up. Additionally, we recognize that Sierra Metals is currently experiencing the early effects of the latest wave of COVID-19 infections. While it is too soon to determine the impact of this latest wave, we anticipate reduced workforce levels at our operations in both Peru and Mexico during Q1 and potentially into Q2.”

He concluded, “For these reasons, Sierra Metals has decided to postpone the issuance of its 2022 production and cost guidance until March 16, 2022 at the time of publishing our year-end financial results. It is our intention to provide guidance when we are able to provide accurate and more meaningful targets. At this time, our focus remains the health and safety of our employees and communities. We will continue to overcome the obstacles presented due to the lagging effect of COVID-19 on our workforce, community, suppliers and service providers; which has had an impact both directly and indirectly on our operations. We remain confident that once these challenges are behind us, we can look forward to making progress on exploration initiatives as well as projects to advance our efficiencies and take full advantage of growth opportunities across each of our operations.”

2021 Consolidated Production Highlights

  • Copper production of 31.8 million pounds; a 28% decrease from 2020
  • Zinc production of 79.3 million pounds; a 3% decrease from 2020
  • Lead production of 30.8 million pounds; a 7% decrease from 2020
  • Silver production of 3.5 million ounces; a 2% increase from 2020
  • Gold production of 9,572 ounces; a 30% decrease from 2020
  • Total of 2.9 million ore tonnes processed; a 3% increase from 2020
  • Consolidated copper equivalent production of 89.9 million pounds; a decrease of 24% from 2020

The Company achieved annual throughput that was 3% higher than the 2020 annual throughput.

Fourth Quarter 2021 Production Highlights

  • Copper production of 6.1 million pounds; a 43% decrease from Q4 2020
  • Zinc production of 14.9 million pounds; a 31% decrease from Q4 2020
  • Lead production of 6.0 million pounds; a 21% decrease from Q4 2020
  • Silver production of 0.8 million ounces; a 13% decrease from Q4 2020
  • Gold production of 1,863 ounces; a 45% decrease from Q4 2020

Consolidated quarterly ore throughput of 590,057 tonnes decreased by 24% over Q4 2020, mainly due to the 41% decline in the Bolivar Q4 2021 throughput, as the mine continued to face the residual issues of the COVID restrictions. Quarterly throughput at the Yauricocha mine declined 11% as compared to Q4 2020. The 2021 average annual permitted capacity for Yauricocha is calculated as a weighted average of the original capacity of 3,000 tonnes per day (“tpd) and the increased capacity of 3,600 tpd (as of June 16, 2021). Operating at a rate of more than 3,700 tpd for the first nine months of the year, the mine attained this maximum annual permitted capacity before the end of the year. Mine operations were halted a few days before year end resulting in Q4 2021 Yauricocha production being lower than Q4 2020.

Copper equivalent production at Yauricocha declined 32% during Q4 2021 due to a 11% decrease in quarterly throughput combined with lower head grades and recoveries, except for gold and copper. Bolivar Q4 2021 throughput, which was significantly impacted by COVID and its impact on mine development, was 41% lower than Q4 2020. Lower throughput combined with negative variances in grades resulted in 65% lower copper equivalent production from Bolivar in Q4 2021 as compared to Q4 2020.

Q4 2021 silver equivalent production at the Cusi mine was 21% higher than Q4 2020, driven by the 3% higher throughput and higher grades for all metals during the quarter as compared to Q4 2020.

Consolidated Production Results

Consolidated Production Three Months Ended December 31, Twelve Months Ended December 31,

2021

2020

% Var.

2021

2020

% Var.
 
Tonnes processed

590,057

778,236

-24%

2,902,220

2,828,877

3%
Daily throughput

6,743

8,894

-24%

8,292

8,083

3%
 
 
Silver production (000 oz)

805

922

-13%

3,527

3,465

2%
Copper production (000 lb)

6,071

10,626

-43%

31,757

44,262

-28%
Lead production (000 lb)

6,011

7,630

-21%

30,816

32,972

-7%
Zinc production (000 lb)

14,913

21,612

-31%

79,281

81,868

-3%
Gold Production (oz)

1,863

3,363

-45%

9,572

13,771

-30%
 
 
Copper equivalent pounds (000’s)(1)(2)

17,841

29,267

-39%

89,926

118,214

-24%
 
(1) Copper equivalent pounds for Q4 2021 were calculated using the following realized prices: $23.41/oz Ag, $4.40/lb Cu, $1.55/lb Zn, $1.06/lb Pb, $1,795/oz Au. Copper equivalent pounds for Q4 2020 were calculated using the following realized prices: $24.30/oz Ag, $3.32/lb Cu, $1.22/lb Zn, $0.89/lb Pb, $1,859/oz Au. Copper equivalent pounds for full year 2021 were calculated using the following realized prices: $25.21/oz Ag, $4.23/lb Cu, $1.37/lb Zn, $1.00/lb Pb, $1,796/oz Au. Copper equivalent pounds for full year 2020 were calculated using the following realized prices: $20.59/oz Ag, $2.80/lb Cu, $1.03/lb Zn, $0.83/lb Pb, $1,771/oz Au.
(2) In August 2021, the Company revised its annual production guidance to 110 million to 115 million copper equivalent pounds, using the following budgeted metal prices: $25.15/oz Ag, $3.12/lb Cu, $1.09/lb Zn, $0.90/lb Pb and $1,936/oz Au. For direct comparison, the full year 2021 copper equivalent production calculated at same metal prices is 102.7 million pounds.

Yauricocha Mine, Peru

The Yauricocha mine Q4 2021 production was 11% lower than Q4 2020, as the 3,700 tpd throughput rate in the first nine months of the year allowed the mine to achieve its annual permitted capacity during December causing the mine to halt operations before the end of the year. The mine received its Informe Tecnico Minero (“ITM”) permit in June 2021, allowing for an operating capacity of 3,600 tpd. Copper equivalent metal production in Q4 2021 decreased by 32% due to lower throughput and lower head grades, due to the inability to mine in the higher-grade zones.

Yauricocha’s annual throughput was 1,256,847 tonnes, representing an increase of 12% as compared to the 2020 annual production. While the mine’s operational flexibility allowed for an increase in the throughput, accessing targeted grades remained a challenge throughout the year due to the regulatory limitations to access some of the high-grade ore bodies. Metal production declined as the higher throughput partially compensated for lower grades. Year over year copper equivalent production decreased 21% in 2021 compared to the prior year. 2021 annual production of silver, copper, lead, zinc and gold declined by 5%, 25%, 8%, 3% and 5% respectively compared to 2020 annual production.

A summary of production from the Yauricocha Mine for Q4 2021 has been provided below:

Yauricocha Production Three Months Ended December 31, Twelve Months Ended December 31,

2021

2020

% Var.

2021

2020

% Var.
 
Tonnes processed

277,531

311,946

-11%

1,256,847

1,117,860

12%
Daily throughput

3,172

3,565

-11%

3,591

3,194

12%
 
 
Silver grade (g/t)

51.34

53.74

-4%

55.01

61.55

-11%
Copper grade

0.82%

0.95%

-14%

0.74%

1.08%

-31%
Lead grade

1.03%

1.15%

-10%

1.18%

1.45%

-19%
Zinc grade

2.82%

3.59%

-21%

3.23%

3.77%

-14%
Gold Grade (g/t)

0.53

0.57

-7%

0.48

0.61

-21%
 
Silver recovery

72.26%

79.80%

-9%

77.21%

81.53%

-5%
Copper recovery

76.44%

72.69%

5%

72.92%

74.20%

-2%
Lead recovery

86.55%

88.82%

-3%

88.76%

88.63%

0%
Zinc recovery

86.53%

87.62%

-1%

88.59%

88.13%

1%
Gold Recovery

20.24%

19.34%

5%

21.03%

19.72%

7%
 
 
Silver production (000 oz)

331

430

-23%

1,716

1,803

-5%
Copper production (000 lb)

3,836

4,759

-19%

14,856

19,726

-25%
Lead production (000 lb)

5,430

7,040

-23%

29,113

31,605

-8%
Zinc production (000 lb)

14,913

21,612

-31%

79,281

81,868

-3%
Gold Production (oz)

957

1,112

-14%

4,059

4,292

-5%
 
 
Copper equivalent pounds (000’s)(1)

12,567

18,373

-32%

59,470

75,079

-21%
 
(1) Copper equivalent pounds for Q4 2021 were calculated using the following realized prices: $23.41/oz Ag, $4.40/lb Cu, $1.55/lb Zn, $1.06/lb Pb, $1,795/oz Au. Copper equivalent pounds for Q4 2020 were calculated using the following realized prices: $24.30/oz Ag, $3.32/lb Cu, $1.22/lb Zn, $0.89/lb Pb, $1,859/oz Au. Copper equivalent pounds for full year 2021 were calculated using the following realized prices: $25.21/oz Ag, $4.23/lb Cu, $1.37/lb Zn, $1.00/lb Pb, $1,796/oz Au. Copper equivalent pounds for full year 2020 were calculated using the following realized prices: $20.59/oz Ag, $2.80/lb Cu, $1.03/lb Zn, $0.83/lb Pb, $1,771/oz Au.

Bolivar Mine, Mexico

During the year 2021, the impacts of COVID-19 have been more noticeable at the Bolivar mine. A reduced workforce resulted in delays in infill drilling, mine development and services. The mine also faced high turnover in middle management and senior management personnel during the year, which impacted production performance.

The Bolivar mine processed 227,722 tonnes of ore in Q4 2021, a 41% decrease as compared to the Q4 2020 throughput. Grades were also negatively impacted by the lack of development and limited infill drilling information, which necessitated the launch of an upgraded new infill drilling and mine development program in Q4 2021. Copper equivalent production declined 65% as compared to Q4 2020.

Annual throughput at Bolivar was 1,349,602 tonnes, or a 9% decrease from the 2020 annual throughput, due to the afore-mentioned reasons. Copper equivalent production for the full year 2021 declined 38% as compared to full year 2020.

A summary of production for the Bolivar Mine for Q4 2021 has been provided below:

Bolivar Production Three Months Ended December 31, Twelve Months Ended December 31,

2021

2020

% Var.

2021

2020

% Var.
 
Tonnes processed (t)

227,722

383,607

-41%

1,349,602

1,480,588

-9%
Daily throughput

2,603

4,384

-41%

3,856

4,230

-9%
 
 
Copper grade

0.55%

0.79%

-30%

0.72%

0.87%

-17%
Silver grade (g/t)

9.52

14.50

-34%

15.49

19.61

-21%
Gold grade (g/t)

0.11

0.25

-56%

0.16

0.29

-45%
 
Copper recovery

80.79%

88.21%

-8%

79.28%

86.76%

-9%
Silver recovery

82.34%

83.44%

-1%

81.95%

82.73%

-1%
Gold recovery

78.32%

64.41%

22%

68.88%

64.07%

8%
 
 
Copper production (000 lb)

2,235

5,867

-62%

16,901

24,536

-31%
Silver production (000 oz)

57

149

-62%

551

772

-29%
Gold production (oz)

634

2,017

-69%

4,751

8,860

-46%
 
 
Copper equivalent pounds (000’s)(1)

2,800

8,091

-65%

22,207

35,804

-38%
 
(1) Copper equivalent pounds for Q4 2021 were calculated using the following realized prices: $23.41/oz Ag, $4.40/lb Cu, $1.55/lb Zn, $1.06/lb Pb, $1,795/oz Au. Copper equivalent pounds for Q4 2020 were calculated using the following realized prices: $24.30/oz Ag, $3.32/lb Cu, $1.22/lb Zn, $0.89/lb Pb, $1,859/oz Au. Copper equivalent pounds for full year 2021 were calculated using the following realized prices: $25.21/oz Ag, $4.23/lb Cu, $1.37/lb Zn, $1.00/lb Pb, $1,796/oz Au. Copper equivalent pounds for full year 2020 were calculated using the following realized prices: $20.59/oz Ag, $2.80/lb Cu, $1.03/lb Zn, $0.83/lb Pb, $1,771/oz Au.

Cusi Mine, Mexico

Q4 2021 throughput at the Cusi mine was 84,804 tonnes or 3% higher than the Q4 2020 throughput. Grades for Q4 2021 were higher for all metals, as the mine continued to operate in the high-grade Northeast Southwest vein system.

Annual production at the Cusi Mine was 295,771 tonnes in 2021, which was 28% higher than 2020, as the mine operated for the full twelve months in 2021 as compared to 2020, when Cusi lost more than a quarter’s production due to the COVID-driven care and maintenance. Higher throughput and grades resulted in silver equivalent production which was 21% higher for Q4 2021 and 38% higher for the full year 2021, as compared to the corresponding periods of the prior year.

A summary of production for the Cusi Mine for Q4 2021 has been provided below:

Cusi Production Three Months Ended December 31, Twelve Months Ended December 31,

2021

2020

% Var.

2021

2020

% Var.
 
Tonnes processed (t)

84,804

82,683

3%

295,771

230,429

28%
Daily throughput(2)

969

945

3%

845

658

28%
 
 
Silver grade (g/t)

179.07

160.62

11%

159.74

149.62

7%
Gold grade (g/t)

0.21

0.19

11%

0.18

0.18

0%
Lead grade

0.39%

0.28%

39%

0.32%

0.29%

10%
 
Silver recovery (flotation)

85.52%

80.37%

6%

82.98%

80.32%

3%
Gold recovery (lixiviation)

47.29%

46.73%

1%

45.05%

45.75%

-2%
Lead recovery

80.69%

82.79%

-3%

81.78%

82.40%

-1%
 
 
Silver production (000 oz)

417

343

22%

1,260

890

42%
Gold production (oz)

272

234

16%

762

619

23%
Lead production (000 lb)

581

590

-2%

1,703

1,367

25%
 
 
Silver equivalent ounces (000’s)(1)

465

383

21%

1,382

998

38%
 
(1) Silver equivalent ounces for Q4 2021 were calculated using the following realized prices: $23.41/oz Ag, $4.40/lb Cu, $1.55/lb Zn, $1.06/lb Pb, $1,795/oz Au. Silver equivalent ounces for Q4 2020 were calculated using the following realized prices: $24.30/oz Ag, $3.32/lb Cu, $1.22/lb Zn, $0.89/lb Pb, $1,859/oz Au. Silver equivalent ounces for full year 2021 were calculated using the following realized prices: $25.21/oz Ag, $4.23/lb Cu, $1.37/lb Zn, $1.00/lb Pb, $1,796/oz Au. Silver equivalent ounces for full year 2020 were calculated using the following realized prices: $20.59/oz Ag, $2.80/lb Cu, $1.03/lb Zn, $0.83/lb Pb, $1,771/oz Au.

Quality Control

All technical data contained in this news release has been reviewed and approved by:

Americo Zuzunaga, FAusIMM CP (Mining Engineer) and Vice President of Corporate Planning is a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company with Green Metal exposure including increasing copper production and base metal production with precious metals byproduct credits, focused on the production and development of its Yauricocha Mine in Peru, and Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three Mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.

The Company’s Common Shares trade on the Bolsa de Valores de Lima and on the Toronto Stock Exchange under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.

For further information regarding Sierra Metals, please visit www.sierrametals.com.

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Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian and U.S. securities laws (collectively, “forward-looking information“). Forward-looking information includes, but is not limited to, statements with respect to the date of the 2020 Shareholders’ Meeting and the anticipated filing of the Compensation Disclosure. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential” or variations thereof, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking information.

Forward-looking information is subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the risks described under the heading “Risk Factors” in the Company’s annual information form dated March 30, 2020 for its fiscal year ended December 31, 2019 and other risks identified in the Company’s filings with Canadian securities regulators and the United States Securities and Exchange Commission, which filings are available at www.sedar.com and www.sec.gov, respectively.

The risk factors referred to above are not an exhaustive list of the factors that may affect any of the Company’s forward-looking information. Forward-looking information includes statements about the future and is inherently uncertain, and the Company’s actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors. The Company’s statements containing forward-looking information are based on the beliefs, expectations and opinions of management on the date the statements are made, and the Company does not assume any obligation to update such forward-looking information if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law. For the reasons set forth above, one should not place undue reliance on forward-looking information.

Investor relations
Sierra Metals Inc.
+1 (416) 366-7777
info@sierrametals.com

Luis Marchese
CEO
Sierra Metals Inc.
+1 (416) 366-7777

Source: Sierra Metals Inc.