Bassett Furniture (BSET) – Furniture Demand Remains Strong Reports 3Q21 Results

Posted on October 1, 2021 by Admin

Friday, October 01, 2021

Bassett Furniture (BSET)
Furniture Demand Remains Strong; Reports 3Q21 Results

Bassett Furniture Industries, Inc. is a leading manufacturer and marketer of high-quality home furnishings. With 96 company- and licensee-owned stores located throughout the United States, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers with a friendly environment for buying furniture and accessories. Bassett’s retail strategy includes stylish, custom-built furniture that features the latest on-trend furniture styles, free in-home design visits, and coordinated decorating accessories. The Company also has a traditional wholesale business with more than 700 accounts on the open market and a logistics business specializing in the transport and warehousing of home furnishings. In addition, Bassett sells its products through its website at www.bassettfurniture.com. With revenues in excess of $450 million, approximately 75% of its goods are manufactured, assembled and/or finished in factories located in Virginia, North Carolina and Alabama with the remainder primarily sourced from Asia. The Company was founded in 1902 and is based in Bassett, Virginia.

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

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

3Q21 Results. Revenue came in at $118.9 million, up 29.8% y-o-y and was up 8.7% compared to the non-COVID impacted 3Q19. Wholesale sales rose 32.1%, while Retail sales increased 10.5% and Logistics segment revenue was up 19.1%. Bassett reported net income of $3.0 million, or $0.31 per share, compared to net income of $2.2 million, or $0.22 per share, last year. We had forecast revenue of $120 million and EPS of $0.32.

Backlog Continues to Climb. Wholesale backlog hit $92.8 million at the end of the quarter, up from $87.7 million at the end of the second quarter, and up from $37.4 million a year ago. Backlog continued to grow in the fourth quarter on the back of strong Labor Day retail sales. Written sales increased 2.6% 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.

Release – Voyager Digital Partners with Fundstrat to Provide Market-leading Crypto Research to Users

Posted on October 1, 2021 by Admin

Voyager Digital Partners with Fundstrat to Provide Market-leading Crypto Research to Users

Voyager makes strategic investment in Fundstrat, an independent research boutique

NEW YORK, Oct. 1, 2021 /PRNewswire/ – Voyager Digital Ltd. (“Voyager” or the “Company”) (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2) one of the fastest-growing, publicly traded cryptocurrency platforms in the United States, today announced a strategic investment and partnership with Fundstrat, a leading research boutique led by Wall Street strategist Thomas Lee and veteran Wall Street sales executive John Bai, to be Fundstrat‘s exclusive US partner and incorporate crypto research into the Voyager platform.

“We believe research is crucial for traders, which is why we’re bringing valuable market data and insights right into the Voyager platform,” said Steve Ehrlich, CEO and Co-founder of Voyager. “We want to make research more accessible for our customers, and also provide resources for new investors entering the crypto space. One of the key parts of the crypto journey is education as the industry is constantly evolving. There’s so much to learn and we want to make it easy and convenient for our users to do so.”

Fundstrat is an independent research boutique that provides market strategy and sector research, including digital asset research. Voyager’s partnership with Fundstrat allows the Company to deliver crypto market intelligence to Voyager’s customers. The research and content will be co-branded by the two companies and available on the Voyager platform.

“As one of the leading cryptocurrency platforms in the world, Voyager shares the same vision as we do in building a community and supporting them through education and insights,” said John Bai, Managing Partner at Fundstrat. “We’re thrilled to be partnering with Voyager to grow and achieve this goal.”

Voyager will be purchasing Units of Fundstrat, for an aggregate purchase price of approximately US$6,000,000 to be satisfied by the issuance of 601,504 common shares of Voyager.

About Voyager Digital Ltd.
Voyager Digital Ltd. (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2) is a fast-growing, publicly traded cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to trade over 60 different crypto assets, using its easy-to-use mobile application, and earn rewards up to 12 percent annually on more than 30 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visit https://www.investvoyager.com.

The TSX has not approved or disapproved of the information contained herein. The Transaction is subject to the satisfaction of certain customary closing conditions, including the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Toronto Stock Exchange.

Press Contacts

Voyager Digital, Ltd.
Michael Legg
Chief Communications Officer
(212) 547-8807
mlegg@investvoyager.com

Voyager Public Relations Team
pr@investvoyager.com

SOURCE Voyager Digital (Canada) Ltd.

Release – Great Lakes Dredge Dock Corporation Appoints Scott Kornblau as Senior Vice President and Chief Financial Officer

Posted on October 1, 2021 by Admin

Great Lakes Dredge & Dock Corporation Appoints Scott Kornblau as Senior Vice President and Chief Financial Officer

HOUSTON, Oct. 01, 2021 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Co. (NASDAQ:GLDD), the nation’s largest provider of dredging servicers, has appointed Scott Kornblau as its Senior Vice President and Chief Financial Officer effective immediately.

In his role, Kornblau will be responsible for overseeing the company’s financial operations including investor relations and strategic and profitable growth opportunities, while managing various accounting functions and information technology. Based in Houston, he will serve on the company’s executive team and report to the President and Chief Executive Officer, Lasse Petterson. He succeeds Mark Marinko who has left the company to pursue other opportunities in the Chicago area.

“Scott brings more than two decades of both financial and industry experience to his role at GLDD and I’m pleased to welcome him to our leadership team,” said Petterson. “Our company has seen exponential growth over the last few years and I’m confident Scott’s multidisciplinary leadership will contribute to and elevate our strategic plan.”

Prior to joining GLDD, Kornblau held various finance and leadership positions at Diamond Offshore Drilling, Inc., and most recently served Senior Vice President and Chief Financial Officer.

“I’m grateful to further my career at GLDD and continue executing its strategic plan for accelerated growth and delivering value to stakeholders,” said Kornblau. “I look forward to working with the entire GLDD team to further the company’s momentum and proud history in the industry.”

Kornblau graduated from the University of Texas at Austin with a degree in accounting and is a licensed Certified Public Accountant in the State of Texas.

The Company

Great Lakes Dredge & Dock Corporation (“Great Lakes” or the “Company”) is the largest provider of dredging services in the United States. In addition, the Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 131-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprising over 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking” statements as defined in Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”), the Private Securities Litigation Reform Act of 1995 (the “PSLRA”) or in releases made by the Securities and Exchange Commission (the “SEC”), all as may be amended from time to time. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Great Lakes and its subsidiaries, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements that are not historical fact are forward-looking statements. These cautionary statements are being made pursuant to the Exchange Act and the PSLRA with the intention of obtaining the benefits of the “safe harbor” provisions of such laws. Great Lakes cautions investors that any forward-looking statements made by Great Lakes are not guarantees or indicative of future events.

Although Great Lakes believes that its plans, intentions and expectations reflected in this press release are reasonable, actual events could differ materially. The forward-looking statements contained in this press release are made only as of the date hereof and Great Lakes does not have or undertake any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.

For further information contact:
Tina Baginskis
Director, Investor Relations
630-574-3024

Release – FAT Brands Inc. Completes $300 Million Acquisition of Twin Peaks Restaurant Chain

Posted on October 1, 2021 by Admin

FAT Brands Inc. Completes $300 Million Acquisition of Twin Peaks Restaurant Chain

Sports Lodge Marks the First Polished Casual Dining Chain to Join FAT Brands

LOS ANGELES, Oct. 01, 2021 (GLOBE NEWSWIRE) — FAT (Fresh. Authentic. Tasty.) Brands Inc. (NASDAQ: FAT) (“FAT Brands” or the “Company”) today announced the completion of its pending acquisition of the Twin Peaks restaurant chain from Garnett Station Partners for $300 million. As a result of the acquisition, FAT Brands has entered a new restaurant category, polished casual dining. The transaction was funded with the proceeds of $250 million in principal amount of new securitization notes and the issuance to the sellers of shares of Series B preferred stock.

With the acquisition of Twin Peaks, FAT Brands will have more than 2,100 franchised and corporate-owned stores around the world with combined annual system-wide sales of approximately $1.8 billion. The addition of the sports lodge concept, including the new stores due to open and under development, is expected to increase the Company’s post-COVID-19 normalized EBITDA by approximately $25 to $30 million. The Twin Peaks transaction marks the third acquisition in the past twelve months for the rapidly growing global franchising company, including the acquisitions of Johnny Rockets in September 2020 and Global Franchise Group in July 2021.

“FAT Brands is committed to an aggressive growth strategy, which underlies our strong M&A activity over the last year. When assessing potential acquisitions, we look to identify brands that not only complement our existing portfolio, but also deliver high average unit volumes and a strong growth pipeline, said FAT Brands CEO Andy Wiederhorn. “Twin Peaks checks all of these boxes. This is a brand that we can grow globally at a fast pace, and we look forward to building upon the strong growth that was achieved under Garnett Station Partners.”

For more information on FAT Brands, visit www.fatbrands.com.

###

About FAT (Fresh. Authentic. Tasty.) Brands

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual and casual dining restaurant concepts around the world. The Company currently owns 14 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises over 2,000 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

About Twin Peaks

Founded in 2005 in the Dallas suburb of Lewisville, Twin Peaks now has 82 locations in 25 states. Twin Peaks is the ultimate sports lodge featuring made-from-scratch food and the coldest beer in the business surrounded by scenic views and the latest in high-definition TVs. At every Twin Peaks, guests are immediately welcomed by a Twin Peaks team member and served up a menu made for MVPs. From its smashed and seared to order burgers to in-house smoked ribs and hand-breaded wings, guests can expect menu items capable of satisfying every appetite. To learn more about franchise opportunities, visit www.twinpeaksfranchise.com. For more information, visit www.twinpeaksrestaurant.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the future financial performance and growth of FAT Brands following the acquisition of Twin Peaks, including estimates of annual EBITDA and annual revenues following the acquisition, the ability to open new Twin Peak’s stores under development, and the Company’s ability to conduct future accretive and successful acquisitions. Forward-looking statements reflect the Company’s expectations concerning the future and are subject to significant business, economic and competitive risks, uncertainties and contingencies including, but not limited to, the Company’s ability to successfully integrate and exploit the synergies of the acquisition of Twin Peaks, the Company’s ability to grow and expand revenues and earnings following the acquisition, and uncertainties surrounding the severity, duration and effects of the COVID-19 pandemic. These risks, uncertainties and contingencies are difficult to predict and beyond our control, and could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. We refer you to the documents we file from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause our actual results to differ materially from our current expectations and from the forward-looking statements contained in this press release. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.

About Non-GAAP Projected Financial Measures

This press release includes projections of future EBITDA, a financial measure that is not prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). EBITDA is defined as net income (loss), before interest expense, income tax expense (benefit), depreciation and amortization expense. EBITDA is not a measurement of the Company’s financial performance under GAAP, and should not be considered in isolation or as an alternative to net income (loss) as a measure of financial performance, cash flows from operating activities as a measure of liquidity, or any other performance measure derived in accordance with GAAP. The Company believes that EBITDA is an important supplemental measure of its operating performance because it eliminates the impact of expenses that do not relate to business performance. The Company also believes that this non-GAAP measure is useful to investors because it and similar measures are frequently used by securities analysts, investors and other interested parties to evaluate companies in our industry and provide additional information regarding growth rates on a more comparable basis than would be provided without such adjustments.

The Company prepared the information included in this press release based upon available information and assumptions and estimates that it believes are reasonable. The Company cannot assure you that its estimates and assumptions will prove to be accurate. Additionally, to the extent that forward-looking non-GAAP financial measures are provided, they are presented on a non-GAAP basis without reconciliations of such forward-looking non-GAAP financial measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation.

MEDIA C ONTACT :
Erin Mandzik, JConnelly
emandzik@jconnelly.com
862-246-9911

INVESTOR RELATIONS:
Lynne Collier, ICR
IR-FATBrands@icrinc.com
646-430-2216

Source: FAT Brands Inc.

Release – AB Vista and Avivagen Strike OxC-beta Supply Agreement in the United States Brazil and Thailand

Posted on October 1, 2021 by Admin

AB Vista and Avivagen Strike OxC-beta™ Supply Agreement in the United States, Brazil and Thailand

Eight-year agreement expected to increase OxC-Beta™ access and adoption in the largest feed production markets worldwide
AB Vista to become exclusive distributor for use with poultry, swine, ruminants and aquaculture in United States, Brazil and Thailand
AB Vista and Avivagen to collaborate on development efforts

Ottawa, ON/Business Wire/ October 1, 2021/ Leading global animal nutrition technology company AB Vista and Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen”) today announced they have entered into a transformative supply agreement that is expected to expand the adoption and use of OxC-beta™ in a number of high-value feed production markets worldwide. The landmark eight-year deal will see AB Vista become the exclusive distribution partner for OxC-beta™ for poultry, swine, ruminants (dairy and beef) and aquaculture uses in the United States, Brazil and Thailand.

AB Vista is a global animal nutrition technology company supplying feed additives, nutrition expertise and analytical services to animal feed and protein producers.

“This is a truly transformative partnership for Avivagen, and one that stands to benefit not only us and AB Vista but feed and livestock producers in the Americas and Asia as well,” says Kym Anthony, Chief Executive Officer, Avivagen Inc. “We’ve had a lot of interest from potential partners for OxC-beta™, but AB Vista’s expertise and track record set it apart. With their industry-leading technical knowledge and know-how we are confident that this agreement will drive considerable adoption of OxC-beta™ and growth for Avivagen over the better part of the next decade.”

As a part of the agreement AB Vista and Avivagen will also collaborate on future development efforts, including advancing opportunities for OxC-beta™ use for aquaculture purposes (such as shrimp production). Aquaculture represents a new category for OxC-beta™ use, following considerable success with poultry, swine and ruminants in markets worldwide.

“We pride ourselves on bringing pioneering, high-value products and services to the global animal feed market. We believe OxC-beta™ could be one of the next great innovations and advancements in animal nutrition, and we’re excited to be able to deliver this great product to our customers,” says Juan Ignacio Fernandez, Managing Director, AB Vista.

“Based on the extensive technical data supporting the role OxC-beta™ can have in reducing production reliance on antibiotics, we are confident our customers in the United States, Brazil and Thailand will have high demand for such a differentiated product.”

The United States and Brazil represent the world’s second and third largest feed production markets, accounting for nearly 300 million metric tonnes of feed produced in 2020[1]. More than one-quarter of 2021 international feed tonnage was produced in these two markets alone.

About AB Vista
AB Vista is a global feed additive business bringing pioneering products and technical services to the poultry, swine, ruminant and aquaculture sectors. Since its launch in 2005 the company has become a highly respected global player with top three market share positions in its core segments. The business uses its innovative product research, technical services and nutrition expertise to gather global insights that can be used to provide new ways of thinking to feed compounders, integrators and pre-mixers. With over 25 years’ experience in the NIR field and a global network of laboratories able to analyse feed samples, AB Vista provides the tools and expertise to allow its customer to better balance their ingredients. AB Vista is headquartered in the UK, with regional offices located in the USA, Brazil, Singapore, Spain, India, China, Germany and Finland.

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 term of the agreement with AB Vista, expections as to expansion and adoption of products, Avivagen’s expectations as to future growth and results, the anticipated benefits of this agreement to Avivagen and others, future collaboration, future product development, Avivagen’s expectations as to growth in demand for Avivagen’s products, the possibility for OxC-beta™ Livestock to replace antibiotics in livestock feeds as well as fill a critical need for health support in certain livestock applications where antibiotics are precluded and the size of market opportunities are all 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 supply agreement could be terminated prior to 8 years for a number of reasons, Avivagen’s products may not be adopted at the rate anticipated, Avivagen may not benefit from the supply agreement as anticipated, future collaboration and product development may not occur or may not be successful in developing viable products, demand for Avivagen’s products may not continue to grow and could decline, 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 in livestock feeds, in each case 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

AB Vista – a division of AB Agri Ltd
Lynsey Wickens
3 Woodstock Court, Blenheim Road, Marlborough Business Park,
Marlborough, Wiltshire, SN8 4AN
t +44 (0)1672 517662

e-mail: lynsey.wickens@abvista.com

[1] 2021 Alltech Global Feed Survey: https://www.petfoodindustry.com/articles/9973-th-annual-alltech-global-feed-survey-estimates-world-feed-production-increased-1

Release – Capstone Green Energy To Provide 600 kW Trigeneration Power System for Luxury Hotel in Colombia

Posted on October 1, 2021 by Admin

Capstone Green Energy (NASDAQ:CGRN) To Provide 600 kW Trigeneration Power System for Luxury Hotel in Colombia

Three C200S Microturbines Will Deliver Electricity, Chilled and Hot Water

VAN NUYS, CA / ACCESSWIRE / October 1, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), the world’s leading clean technology manufacturer of microturbine energy systems, announced today it has secured a contract with its distributor for Colombia and Venezuela, Supernova Energy Services, (www.supernova-es.com) for three 200-kilowatt (kW) microturbines to provide a 600 kW power system to a luxury hotel in Cartagena, Columbia. As one of the first of its kind in the country, the trigeneration system will use clean burning high pressure natural gas to provide highly efficient energy as well as both chilled and hot water for the complex as condensation from the air conditioning system will be cooled with water from the system. In addition, the customer intends to add on two additional C200 microturbines in the future to match expected growth in power demand. This would result in a total system size of 1-megawatt (MW).

“The project is not only important from a financial point of view, but also from an environmental angle,” said Nestor Moseres, President of Supernova Energy Services. “When fully operational, the carbon emissions will be reduced by approximately 40% from the baseline in the amount of an estimated 4,000 tons per year during the life of the project,” added Mr. Moseres.

Located in the Historic Center of Cartagena de Indias, the hotel is a restored structure more than 400 years old with limited available space for onsite power technology. Capstone’s microturbines were selected for their compactness and modularity, which enable up to 1 MW of generation to be produced through five 200kW modules without any loss of performance. In fact, this configuration actually maximizes the system’s overall reliability.

“We’ve been saying for years that hospitality is a prime industry for realizing maximum benefits from onsite green energy, including cost savings and increased resiliency,” said Darren Jamison, Capstone Green Energy President and Chief Executive Officer. “While both of these are critical for efficient operations, our green energy systems also offer enhanced environmental benefits. That’s no longer just a nice-to-have benefit for ‘feel good’ marketing. Consumers are now making decisions, including their lodging choices, by factoring in overall ‘greenness’, so this is another competitive advantage in hospitality and many other industries,” concluded Mr. Jamison.

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.

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

SOURCE: Capstone Green Energy Corporation

Digital Currency Report from the Fed is Past Due

Posted on September 30, 2021 by Admin

About the Central Bank Digital Currency Position Report, That’s Late

The U.S. Federal Reserve Board is expected to release a nail-biter of a report stating their position on potentially adopting a digital dollar. The cryptocurrency would have the same backing and perqs of $US Dollars. The Fed expressed last summer that it had partnered with the Massachusetts Institute of Technology to “understand the opportunities and limitations” of a Central Bank Digital Currency (CBDC). It was announced the project was to release its findings in late summer 2021. It is now early Fall 2021, the markets have not yet gotten the expected big announcement. However, Fed Chair Powell may have shown his hand on Tuesday.

Speaking before the Senate Banking Committee Tuesday (Sept. 28), Powell said that while existing laws governing the Fed’s activities could serve as a basis for issuing a digitized version of the U.S. dollar, he expressed a preference for working on a legislation-backed push instead. This was in response to a question from Senator Pat Toomey of Pennsylvania. He further set expectations for the past-due board’s report, saying the Fed had made no decision on a CBDC. The paper will instead tackle some of the related public policy issues and set the stage for the central bank to gather feedback from lawmakers and the public.

Although the paper, when released, will not be definitive, it seems it will set the Fed’s stance regarding pros, cons, and how-tos. As with most Fed position papers, it may “define” in unclear language that will be studied carefully by those active in markets that could be impacted. The current direction, based on Chairman Powell’s answer is that the Fed expects a seat at the table but would like Congress to hand down any definitive action.

Foreign Central Banks

We live in a world that has become very small, so what happens in one major market impacts another. Although Europe’s potential adoption of a digital euro, or China, which is looking to creates a digital yuan would impact the U.S., an actual dollar valued like cash may be years away. Some believe the potential for dramatically disrupting the global financial balance is too great, while others worry the United States will cede dominance of the global financial system if it does not digitize the dollar, which is used as the global reserve currency. Of special concern, is China’s digital
yuan pilot project, which is believed to be far ahead of the United States and its biggest economic rival.

Other Decision Maker Positions

Fed Governor Lael Brainard is on record saying she finds it inconceivable that the United States would not pursue a digital dollar when competing economies were forging ahead with CBDCs. “That just doesn’t sound like a sustainable future,” she said in July.

Fed Governors Christopher Waller and Randal Quarles have argued many dollar transactions are now digital and that the costs of a CBDC could far outweigh any benefit. Staff within the Fed are also said to be divided on the issue.

On Capitol Hill, some see a CBDC as the door opener that makes financial services accessible and affordable for millions of Americans that are currently ignored by the mainstream banking system. At the same time, others express concerns over privacy and security.

For those focused on what it would mean for wholesale and merchant banking, CBDCs could come into existence strictly for wholesale use. This could speed up processes and lower the cost of cross-border payments between parties. Individually, a retail digital dollar could be used by the general public, expanding Americans’ access to a range of financial services.

Take-Away

If the Fed’s original intent of sending out a position paper on a CBDC in late Summer was to set the course toward or away from its adoption, they seem to have backed off. Some things take longer than expected, and with big decisions, discoveries are often found that would impact any final release. The paper when released, will be combed through for nuances decision untold. If we are to believe Chairman Powell’s answer last Tuesday, the Fed Chair who is up for reappointment, would prefer to have input in the decision but not be the decider.

Suggested Reading:

What’s the Timeline for a US Digital Dollar?

The Federal Reserve and MIT are Experimenting with Digital Currency

Is Coinbase Planning to “School” the SEC on Cryptocurrencies?

Severe Punishment for All Things Crypto in China -Who’s Impacted?

Sources:

https://www.youtube.com/watch?v=KX1aPj1MJNQ

https://www.cnbc.com/2021/09/22/the-fed-is-evaluating-whether-to-launch-a-digital-currency-and-in-what-form-powell-says.html

Analysis: U.S. Fed navigates policy minefield with impending
digital dollar report | Reuters

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Release – EEGs iGaming Division Hits New Revenue Record SportNation Nominated for Award

Posted on September 30, 2021 by Admin

EEG’s iGaming Division Hits New Revenue Record, SportNation Nominated for Award

Newark, New Jersey–(Newsfile Corp. – September 30, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”) and their SportNation.bet business has been nominated for eGaming Review’s (“EGR”) Marketing Campaign of the Year Award for the campaign “SportNation Rewards”, which allows customers to have total control of the rewards they earn on the platform. The EGR Awards will take place on November 25, 2021, in London.

“We’re extremely honored to have been nominated for such a prestigious award. Our team has put in countless hours of work to make this campaign successful,” said Michael Wilson, President of EEG’s iGaming. “Rewards are at the core of our product and allow us to provide our customers with a truly unique offering. The data continues to tell us how much our customers enjoy the wide variety of options we have available and we’re looking forward to growing this program even further in the coming years.”

“Michael and his team are doing a phenomenal job growing our iGaming segment, and this nomination is yet another validation of their continued hard work,” added Grant Johnson, CEO of EEG. “Just this week, our iGaming segment posted more than a quarter million dollars in revenue in a single day, a new daily record. I look forward to sharing more insight into these and other successes on our upcoming fiscal 2021 earnings call in October.”

SportNation.bet’s Rewards program is activated each time a customer places a sports or casino bet. The amount of points earned is based on the bet type and stake amount. Customers are able to see how many points are possible to earn prior to placing a bet. Once the bet is settled, points are instantly credited to their account. Rewards available for redemption include cash back, free bets, deposit bonuses, raffles, charitable donations and UberEats vouchers.

In 2021, customers that engaged with rewards have 277% more activity days compared to those that don’t. SportsNation.bet is among the first sportsbooks to offer cash back as a reward for customers. The campaign has been extremely popular with customers, and it has been instrumental in player value and retention. All of the technology used for the campaign was created in-house by the iGaming team.

About Esports Entertainment Group
Esports Entertainment Group is a full stack esports and online gambling company fueled by the growth of video-gaming and the ascendance of esports with new generations. Our mission is to help connect the world at large with the future of sports entertainment in unique and enriching ways that bring fans and gamers together. Esports Entertainment Group and its affiliates are well-poised to help fans and players to stay connected and involved with their favorite esports. From traditional sports partnerships with professional NFL/NHL/NBA/FIFA teams, community-focused tournaments in a wide range of esports, and boots-on-the-ground LAN cafes, EEG has influence over the full-spectrum of esports and gaming at all levels. The Company maintains offices in New Jersey, the UK and Malta. For more information visit www.esportsentertainmentgroup.com.

FORWARD-LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these
forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Contact:
U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
dave@redchip.com

Media Inquiries
brandon.apter@esportsentertainmentgroup.com

Investor Relations Inquiries
Jeff@esportsentertainmentgroup.com

Release – Sierra Metals Announces Filing of Updated NI 43-101 Technical Report

Posted on September 30, 2021 by Admin

Sierra Metals Announces Filing of Updated NI 43-101 Technical Report

TORONTO–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) has filed an updated independent technical report (the “Report“) prepared in accordance with National Instrument 43-101 on the Bolivar Mine in Mexico.

The Report dated September 21, 2021, with an effective date of December 31, 2019, is entitled “Updated Preliminary Economic Assessment, Bolivar Mine, Mexico”. The Report was prepared for Sierra Metals by SRK Consulting (Canada) Inc. There are no material differences in the Report from those results disclosed in the Company’s press release dated August 16, 2021.

The Report is available for review on SEDAR (www.sedar.com), EDGAR (www.SEC.gov) and the Company’s website (www.sierrametals.com).

About Sierra Metals

Sierra Metals is a diversified Canadian mining company focused on the production and development of precious and base metals from its polymetallic 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.

Continue to Follow, Like and Watch our progress:

Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc | Instagram: sierrametals

Mike McAllister, CPIR
V.P., Investor Relations
Sierra Metals Inc.
+1 (416) 366-7777
info@sierrametals.com

Americo Zuzunaga
V.P., Corporate Planning
Sierra Metals Inc.
+1 (416) 366-7777

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

Source: Sierra Metals Inc.

Release – CanAlaska Identifies New Targets at Kingston Uranium Project

Posted on September 30, 2021 by Admin

CanAlaska Identifies New Targets at Kingston Uranium Project

Historical Uranium Boulder Train Located Near Collins Bay Fault

Electromagnetic and Gravity Anomalies Define Shallow Targets Along Major Faults

West McArthur “42 Zone” Successfully Extended – Drilling Continues

Vancouver, British Columbia–(Newsfile Corp. – September 30, 2021) – CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) (“CanAlaska” or the “Company”) is pleased to announce that compilation work on the Company’s newly acquired Kingston Project has identified several new uranium targets. The targets are outlined by coincident electromagnetic (EM) and gravity anomalies, and a uranium-rich boulder train located just down-ice from the Collins Bay Fault structure (Figure 1).

Figure 1

Figure 2

The Collins Bay Fault is host to the Rabbit Lake, Collins Bay A, B and D, and Eagle Point orebodies, which, since 1975, have produced more than 200 million pounds of uranium. The location of these deposits along the length of the Collins Bay Fault system is largely controlled by interaction of the main, regional dextral reverse fault with bends or flexures of the main structure, splay structures coming off the main structure, or interaction with cross-cutting structures. The Maguire Fault hosts the Maguire zone of alteration and uranium mineralization on CanAlaska’s claims in northwest Manitoba.

During the mineralizing event, the host-rock is altered to clay, which can be imaged by geophysical methods such as EM and gravity. The coupling of EM “bright-spots” with gravity lows is a possible indication of the clay alteration associated with these significant mineralizing events. EM “bright-spots” were successfully used to discover an extension of the Eagle Point orebody (02 Next deposit) and drilling of a gravity low anomaly led to discovery of NexGen’s Arrow deposit, host to 337 million pounds of uranium resources.

The Kingston project is strategically located less than 100 kilometres northeast of the northeastern margin of the present-day Athabasca Basin within the Western Wollaston Domain, just east of the Wollaston-Mudjatik contact (Figure 2). Historical exploration in the area has been concentrated in two periods. Prospecting and geological mapping, lake sediment sampling, airborne and ground geophysical surveys, and limited diamond drilling work was completed from 1958 to 1980. Airborne and ground geophysical surveys including DIGHEM, Falcon and ZTEM, soil/rock/lake sediment sampling, prospecting and geological mapping occurred from 2004 to 2016. The various geophysical surveys map conductors and gravity anomalies coincident with two regional structures, the Collins Bay Fault and the Maguire Fault. Previous exploration within the project area has identified a large uranium-rich boulder train in the southeast corner of the project that is immediately down-ice of the Collins Bay Fault. Uranium-rich boulders with up to 0.57% (5,768 ppm) uranium have been reported. Anomalous nickel in lake sediments were identified along the Maguire Fault in the northeast corner of the property. Four high priority target areas have been identified (Figure 1).

West McArthur “42 Zone” Drilling Update

Diamond drilling at the Company’s West McArthur JV project is progressing as planned and has been successful in expanding the “42 Zone” discovery. Three diamond drill holes have reached the unconformity to date for a total of 2,946 m of drilling. The Company plans to complete an additional two to three diamond drill holes within the 42 Zone area for a targeted total meterage of 5,000 m.

Drill hole WMA063-1 intersected 16.1 m of elevated radioactivity immediately above the unconformity 32 m along strike to the west of drill hole WMA055-2 in the Company’s 42 Zone area. WMA055-2 intersected 2.1 m averaging 2.3% U₃O₈, including 0.7 m at 6.8% U₃O₈ (see press release dated October 15^th, 2019). The new uranium intersection in WMA063-1 is thicker and contained within a strongly bleached lower sandstone column that contains dark black sooty pyrite, red hydrothermal hematite, and structurally-controlled strong clay alteration. Due to the strong clay alteration and faulting, core recovery is approximately 25% through two three-metre wide intervals within the mineralized zone above the unconformity. Geochemical assays of the mineralization, expected after the program is complete, will be used in conjunction with radiometric probing equivalents data to evaluate the grade and thickness of this new mineralization which extends the 42 Zone.

Southwest of the 42 Zone area two drill holes have been completed along the extension of the Grid 5 conductive corridor and controlling structure. Drill hole WMA061, drilled 700 m to the southwest of the 42 Zone, intersected the unconformity 68 m north-northwest of WMA049-1. WMA061 intersected a broad interval of faults in the lower sandstone column associated with bleached sandstone, increased interstitial clay, patches of sooty pyrite, remobilized hematite, and structurally-controlled limonite and clay alteration. The sandstone structure and alteration indicate that WMA061 intersected the unconformity approximately 30 m north of the ideal target, leaving the target open on this fence.

Drill hole WMA062, drilled 1.8 km to the southwest of the 42 Zone, intersected the unconformity 38 m northwest of WMA040. WMA062 intersected a 30 m wide fault in the lower sandstone column with strong limonite alteration, patches of grey sooty pyrite, and structurally-controlled dravitic breccias. In the basement of WMA062, the top of the targeted fault zone was intersected 10 m below the unconformity and is characterized by a 20 m wide interval of quartz-healed hydraulic breccias and localized re-activated clay gouge with strong hematite, chlorite, bleaching, sericite, and specular hematite alteration. This is followed by a second 8 m wide fault zone that contains abundant re-activated cataclastic breccias and clay gouges characterized by strong pervasive bone-white bleaching, dark black structurally-controlled chlorite, and hematite alteration. The strong alteration and large faults in the basement of this drillhole suggest the ideal target starts approximately 10 – 15 m north of WMA062 and extends to the north where these two basement faults remain untested at the unconformity.

Drillholes WMA061 and WMA062 confirm the fault system along the conductive corridor in the Grid 5 area is present, large, and strongly altered southwest of the 42 Zone.

CanAlaska CEO, Cory Belyk, comments, “The Kingston Project has structural and geophysical targets that look like an Eagle Point or Arrow analogue in close association with a historical uranium-rich boulder train. The team is delighted this compilation work has outlined key target areas on this project associated with the large Collins Bay and Maguire faults, none of which have been drill tested in this area. In addition, the ongoing drilling program at West McArthur has successfully extended the “42 Zone” mineralization and drilling will continue on nearby priority targets along the 42 Zone controlling structure.”

Other News

CanAlaska’s joint venture partner, Denison Mines, continues drilling on our new Moon Lake South joint venture located near Denison’s Wheeler River Project.

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 300,000 hectares (750,000 acres), in Canada’s Athabasca Basin region – the “Saudi Arabia of Uranium.” CanAlaska’s strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company’s properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.

The qualified technical person for this news release is Nathan Bridge, MSc., P.Geo., CanAlaska’s Vice President, Exploration.

On behalf of the Board of Directors
“Peter Dasler”
Peter Dasler, M.Sc., P.Geo.
President
CanAlaska Uranium Ltd.

Contacts:

Cory Belyk, Executive VP and CEO
Tel: +1.604.688.3211 x 306
Email: cbelyk@canalaska.com

Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

Source:
CanAlaska Uranium Ltd.

Release – Orion Group Holdings Inc. Announces Contract Awards of Nearly $200 Million

Posted on September 30, 2021 by Admin

Orion Group Holdings, Inc. Announces Contract Awards of Nearly $200 Million

HOUSTON–(BUSINESS WIRE)–Sep. 29, 2021–
Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”) a leading specialty construction company, today announced two contract awards for its Marine segment totaling nearly
$200 million.

The Company has been awarded a contract valued at approximately
$125 million from the
Florida Department of Transportation (FDOT) to replace the
State Road 405
Indian River Bridge over the NASA Causeway near
Cape Canaveral, Florida. This bridge provides the main access to
Kennedy Space Center and
Cape Canaveral Space Force Center. The work is expected to commence during the fourth quarter of 2021 and be completed in the fourth quarter of 2024.

In addition, the Company has been awarded a contract valued at approximately
$67 million from the
Port of Port Arthur to construct the Berth 6
Expansion Project in
Port Arthur, Texas, that will allow for significant additional berthing capacity at the Port. The project is expected to commence in the fourth quarter of 2021 and be completed in the third quarter of 2024.

“Orion has a strong track record of helping modernize and upgrade critical infrastructure,” said Mark Stauffer, Orion’s President and Chief Executive Officer. “The NASA Causeway project marks our fourth bridge project to be awarded recently, and along with the Berth 6 Expansion, not only provides significant backlog to our Marine segment, but reaffirms Orion as a leading contractor for building and rebuilding our nation’s infrastructure.”

About Orion Group Holdings

Orion Group Holdings, Inc., a leading specialty construction company serving the infrastructure, industrial and building sectors, provides services both on and off the water in the continental
United States,
Alaska,
Canada and the
Caribbean Basin through its marine segment and its concrete segment. The Company’s marine segment provides construction and dredging services relating to marine transportation facility construction, marine pipeline construction, marine environmental structures, dredging of waterways, channels and ports, environmental dredging, design, and specialty services. Its concrete segment provides turnkey concrete construction services including pour and finish, dirt work, layout, forming, rebar, and mesh across the light commercial, structural and other associated business areas. The Company is headquartered in
Houston, Texas with regional offices throughout its operating areas.

Forward-Looking Statements

The matters discussed in this press release may constitute or include projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the provisions of which the Company is availing itself. Certain forward-looking statements can be identified by the use of forward-looking terminology, such as ‘believes’, ‘expects’, ‘may’, ‘will’, ‘could’, ‘should’, ‘seeks’, ‘approximately’, ‘intends’, ‘plans’, ‘estimates’, or ‘anticipates’, or the negative thereof or other comparable terminology, or by discussions of strategy, plans, objectives, intentions, estimates, forecasts, outlook, assumptions, or goals. In particular, statements regarding future operations or results, including those set forth in this press release and any other statement, express or implied, concerning future operating results or the future generation of or ability to generate revenues, income, net income, profit, EBITDA, EBITDA margin, or cash flow, including to service debt, and including any estimates, forecasts or assumptions regarding future revenues or revenue growth, are forward-looking statements. Forward looking statements also include estimated project start date, anticipated revenues, and contract options which may or may not be awarded in the future. Forward looking statements involve risks, including those associated with the Company’s fixed price contracts that impacts profits, unforeseen productivity delays that may alter the final profitability of the contract, cancellation of the contract by the customer for unforeseen reasons, delays or decreases in funding by the customer, levels and predictability of government funding or other governmental budgetary constraints and any potential contract options which may or may not be awarded in the future, and are the sole discretion of award by the customer. Past performance is not necessarily an indicator of future results. In light of these and other uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as a representation by the Company that the Company’s plans, estimates, forecasts, goals, intentions, or objectives will be achieved or realized. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company assumes no obligation to update information contained in this press release whether as a result of new developments or otherwise.

Please refer to the Company’s Annual Report on Form 10-K, filed on
March 2, 2021, which is available on its website at www.oriongroupholdingsinc.com or at the SEC’s website at www.sec.gov, for additional and more detailed discussion of risk factors that could cause actual results to differ materially from our current expectations, estimates or forecasts.

Orion Group Holdings Inc.
Francis Okoniewski, Vice President Investor Relations
(346) 616-4138
fokoniewski@orn.net
www.oriongroupholdingsinc.com

Robert Tabb, Executive Vice President & CFO
(713) 852-6500
www.oriongroupholdingsinc.com

Source:
Orion Group Holdings, Inc.

Release – Great Lakes Announces Partnership with Project Vesta

Posted on September 30, 2021 by Admin

Great Lakes Announces Partnership with Project Vesta

HOUSTON, Sept. 29, 2021 (GLOBE NEWSWIRE) — Great Lakes Dredge & Dock Corporation (“Great Lakes”) (NASDAQ: GLDD), the largest provider of dredging services in the United States announced today a first-of-its-kind partnership with Project Vesta, a clean technology pioneer developing a new way to use sand to remove excess carbon dioxide from the atmosphere.

“We are committed to robustly furthering the science of Coastal Carbon Capture,” said Tom Green, CEO of Project Vesta. “Our partnership with Great Lakes will enable us to accelerate our research and help coastal communities fight both the cause and symptoms of climate change.”

Known as “Coastal Carbon Capture”, Project Vesta’s method accelerates the earth’s natural carbon removal process by using a natural rock turned into carbon-removing sand. According to a report by the National Academy of Sciences, this technique has the potential to remove billions of tons of carbon dioxide from the atmosphere and reduce ocean acidification. Its newly discovered potential has been heralded by universities and major scientific institutions, and has been highlighted in The New York Times, The Guardian, Popular Science and The Atlantic.

“This partnership will help make Great Lakes a more effective participant in the effort to address coastal erosion and climate change impacts,” said Great Lakes’ Senior Vice President Bill Hanson. “We are proud to raise the bar on climate-change fighting technologies, and invite others in the coastal resilience industry to join this important cause.”

Great Lakes is the first member of the global dredging industry to announce participation in Project Vesta’s initiative and represents a bold new sustainability approach. The two organizations will pursue joint research goals and develop new methods for the safe, effective use of coastal carbon capture.

The Company

For further information contact:
Tina Baginskis
Director, Investor Relations
630-574-3024

Great Lakes Dredge Dock (GLDD) – 3Q2021 Awards Exceed $300 million After Three New Awards

Posted on September 30, 2021 by Admin

Thursday, September 30, 2021

Great Lakes Dredge & Dock (GLDD)
3Q2021 Awards Exceed $300 million After Three New Awards

Great Lakes Dredge & Dock Corp is a provider of dredging services in the United States. The company only’s operating segments is Dredging. Dredging involves the enhancement or preservation of navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Its projects portfolio includes Coastal Restoration, Coastal Protection, Port expansion, and others.

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

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

Attractive award of $25.6 million posted late yesterday. The $25.6 million award for maintenance dredging of Portsmouth Harbor and Piscataqua River was posted on the DoD web site after the market closed yesterday. Work should start later this year and be completed in 1Q2022. The award is positive and there could be some added efficiencies since GLDD is currently working in the Boston Harbor.

Second award of $11.3 million posted earlier this week. According to the government contracting web site, the Coastal Storm Risk Management Project in South Hutchinson Island, Florida was awarded to GLDD for $11.3 million. The work includes constructing a beach berm and planting dune vegetation to limit erosion …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

Author: Admin