Release – Orion Group Holdings Inc. Announces Contract Awards of Approximately $26 Million

Posted on September 22, 2021 by Admin

Orion Group Holdings, Inc. Announces Contract Awards of Approximately $26 Million

HOUSTON–(BUSINESS WIRE)–Sep. 22, 2021–
Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”) a leading specialty construction company, today announced six contract awards in its key markets for its Concrete segment totaling approximately
$26 million.

The Company was recently awarded two contracts in the
Houston, Texas, area including an
$8 million contract for the construction of a building as part of a new industrial park and a
$9 million contract for the construction of four tilt-wall buildings in a new distribution center. Both projects are expected to commence construction in the fourth quarter of 2021 and be completed before year end 2022.

The Company also has been awarded a contract valued at
$3.2 million to construct three buildings for a new school in its
Dallas market and two contracts valued at over
$4 million to build new townhome facilities in
Austin, Texas. All three projects are expected to begin construction during the fourth quarter of 2021 and be completed in the second quarter of 2022.

In addition, the Company was awarded a
$2.1 million contract to construct a single-story tilt-wall building with associated site work in Daytona,
Florida, marking the first project for the Company’s Concrete segment outside of
Texas. The project is expected to begin in the fourth quarter of 2021 and be complete by the end of the first quarter of 2022.

“The capture of work in
Florida is of significant importance as it represents a key first step in our strategic plan to expand our Concrete business to this market,” said Mark Stauffer, Orion’s President and Chief Executive Officer. “Our Marine segment has had an active present in the
Florida market since the 1940s and our Concrete teams will leverage our existing experience, relationships and resources to grow into this market.”

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 – Orion Group Holdings Inc. Announces Contract Awards of Approximately $35 Million

Posted on September 22, 2021 by Admin

Orion Group Holdings, Inc. Announces Contract Awards of Approximately $35 Million

HOUSTON–(BUSINESS WIRE)–Sep. 22, 2021–
Orion Group Holdings, Inc. (NYSE: ORN) (the “Company”) a leading specialty construction company, today announced contract awards totaling approximately
$35 million.

The Company’s Marine segment has been awarded four contracts valued at a combined
$35 million to perform marine and infrastructure construction work in the gulf coast, as well as in
Alaska.

In the gulf coast, the Company has been awarded three contracts to construct marine infrastructure for private sector clients in
Texas and
Louisiana. Two of these awards, valued at
$11.8 million and
$6.7 million, are in the greater
Houston area and call for the construction and dredging of new ship and barge berths for petrochemical loading and unloading. The third project, valued at approximately
$9 million, calls for the replacement of an existing barge dock at a terminal located west of
New Orleans. Work on all three projects is expected to commence in the fourth quarter of 2021 and be complete by third quarter of 2022.

In addition, the Company has been awarded a contract from the
US Department of Transportation to demolish and replace an existing bridge in Alaska’s
Denali National Park. This project is valued at
$7.8 million and will commence late in the first quarter of 2022 with the work completed in late 2023.

“We’re pleased to announce these project awards, particularly those in the private sector energy and industrial spaces,” said Mark Stauffer, Orion’s President and Chief Executive Officer. “Our disciplined approach to bidding project opportunities is paying off, and we expect to see significant additional awards in our marine business in the coming weeks.”

About Orion Group Holdings

Forward-Looking Statements

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 – Onconova Therapeutics Announces Encouraging Clinical Data Supporting The Anti-Cancer Activity Of Rigosertib-Nivolumab Combination

Posted on September 22, 2021 by Admin

Onconova Therapeutics Announces Encouraging Clinical Data Supporting The Anti-Cancer Activity Of Rigosertib-Nivolumab Combination In Advanced KRAS+ Non-Small Cell Lung Cancer

Preliminary Phase 1/2a trial data show an early signal of activity in extensively pre-treated population with 2 partial responses out of 7 evaluable patients

Responses were seen in patients with different KRAS mutations

Data supports further development of rigosertib, in combination with immune checkpoint inhibitors in KRAS mutated (KRAS+) non-small cell lung cancer

Management hosting webinar with key opinion leaders to discuss data today at 4:30 p.m. ET

NEWTOWN, Pa., Sept. 22, 2021 (GLOBE NEWSWIRE) — Onconova Therapeutics, Inc. (NASDAQ: ONTX), a clinical-stage biopharmaceutical company focused on discovering and developing novel products for patients with cancer, today announced preliminary safety and efficacy data from an investigator-initiated Phase 1/2a trial of oral rigosertib plus the immune checkpoint inhibitor nivolumab in advanced KRAS mutated (KRAS+) non-small cell lung cancer (NSCLC). The data, which are being featured in a presentation at the 3rd Annual RAS Targeted Drug Development Summit, support the potential anti-cancer activity of rigosertib-nivolumab combination therapy in this indication and show that the doublet has been well tolerated to-date. Three quarters of patients enrolled in the trial have failed two or more lines of prior therapy and all have failed immune checkpoint inhibitors in various combinations.

Steven M. Fruchtman, M.D., President and Chief Executive Officer of Onconova, commented, “The data being presented today support the potential applicability of rigosertib’s mechanism of action against multiple KRAS mutations and its synergy with immuno-oncology therapeutics. Radiographic responses were seen across multiple KRAS variants, which potentially differentiates rigosertib from other RAS pathway modulators that target particular KRAS mutations. These responses were observed at the primary tumor site as well as metastatic sites such as the pleura and bone. These results also suggest that rigosertib may augment the response to checkpoint inhibitors, which is consistent with observations from preclinical studies, with potential applicability to indications such as NSCLC, melanoma, and others. Looking forward, we will continue to leverage our investigator-initiated study program to advance rigosertib’s clinical development in high-need KRAS mutated indications while keeping our primary focus on our lead ON 123300 (narazaciclib) program.”

Key data from the presentation include:

Demographics:

All enrolled patients (12/12) failed at least one line of prior therapy with a PD-1 checkpoint inhibitor (includes evaluable and non-evaluable patients)
9 of 12 (75%) enrolled patients failed at least two prior lines of therapy

Response Results:

2 of 7 (29%) evaluable patients achieved a partial response (PR)
- PRs were observed in patients with two distinct KRAS mutations (G12C, G12V)
3 of 7 (43%) evaluable patients achieved disease control (PR or stable disease)
4 of 7 (57%) evaluable patients experienced progressive disease

Adverse Event Results:

The combination of rigosertib and nivolumab has been well tolerated and the maximum tolerated dose has not been reached to-date. Treatment related adverse events were mostly mild with two grade 3 adverse events.
3 patients discontinued study drug (2 grade 2 genitourinary toxicities, 1 dose limiting grade 3 hyponatremia)
No unexpected safety events or synergistic toxicities have been observed

“Combining rigosertib with the immune checkpoint inhibitor nivolumab has been well tolerated and notably led to partial responses in 29% of evaluable patients who had previously progressed on prior checkpoint inhibitor therapies,” said Rajwanth Veluswamy, M.D., Assistant Professor, Medicine, Hematology and Medical Oncology, Icahn School of Medicine at Mount Sinai and Principal Investigator of the trial. “This safety and early efficacy signal highlights the combination of rigosertib and nivolumab’s ability to target KRAS mutated NSCLCs and potentially overcome immune checkpoint inhibitor resistance mechanisms. Importantly, responses were seen with different KRAS+ variants, addressing a critical unmet need.”

Mark S. Gelder, M.D., Chief Medical Officer of Onconova, commented, “We look forward to the continuation of this study and to continue development of the rigosertib nivolumab combination as a potential treatment for patients with limited therapeutic options.”

Slides from the presentation titled, “Phase 1/2 Trial of Rigosertib & Nivolumab in KRAS-Mutated NSCLC in 2^nd+ Line” will be available on the “Scientific Presentations” section of the Onconova website following the conference.

Webinar Featuring Expert Overview from Key Opinion Leaders
Onconova will host a webinar today, September 22, 2021, at 4:30 p.m. ET to discuss the preliminary Phase 1/2a data. The call will feature expert discussion with Dr. Veluswamy and Scott Antonia, M.D., Ph.D., Professor of Medicine at the Duke Cancer Institute and Director of its Center for Cancer Immunotherapy. A question and answer session with these experts will follow formal presentations by Dr. Veluswamy and members of the Onconova management team.

To attend the webinar, click here. A replay of the webinar will be available by visiting the investors and media page on Onconova’s website at www.onconova.com and clicking on the webcast link.

About the Investigator-initiated Phase 1/2a Trial
This Phase 1/2a trial is designed to evaluate the combination of rigosertib and nivolumab in advanced KRAS+ metastatic NSCLC patients who have progressed on standard of care with anti-PD-1 monotherapy or anti-PD-1 in combination with chemotherapy. It includes a dose-escalating Phase 1 portion followed by a Phase 2a dose-expansion portion. Patients in the trial receive oral rigosertib twice daily on days 1-21, and intravenous nivolumab on days 1 and 15 of 28-day cycles. The primary endpoints of the trial are safety assessments to determine maximum tolerated dose and overall response rate. Secondary endpoints include progression free survival and overall survival. For more information on the trial, see ClinicalTrials.gov Identifier: NCT04263090.

About Onconova Therapeutics, Inc.
Onconova Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing novel products for patients with cancer. The Company has proprietary targeted anti-cancer agents designed to disrupt specific cellular pathways that are important for cancer cell proliferation.

Onconova’s novel, proprietary multi-kinase inhibitor ON 123300 is being evaluated in two separate and complementary Phase 1 dose-escalation and expansion studies. These trials are currently underway in the United States and China.

Onconova’s product candidate rigosertib is being studied in an investigator-initiated study program, including in a dose-escalation and expansion Phase 1/2a investigator-initiated study with oral rigosertib in combination with nivolumab for patients with KRAS+ non-small cell lung cancer.

For more information, please visit www.onconova.com.

Forward-Looking Statements
Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties. These statements relate to Onconova’s expectations regarding the timing of Onconova’s and investigator-initiated clinical development and data presentation plans, and the mechanisms and indications for Onconova’s product candidates. Onconova has attempted to identify forward-looking statements by terminology including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” “preliminary,” “encouraging,” “approximately” or other words that convey uncertainty of future events or outcomes. Although Onconova believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including the success and timing of Onconova’s clinical trials, investigator-initiated trials and regulatory agency and institutional review board approvals of protocols, Onconova’s collaborations, market conditions and those discussed under the heading “Risk Factors” in Onconova’s most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Any forward-looking statements contained in this release speak only as of its date. Onconova undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

Company Contact:
Avi Oler
Onconova Therapeutics, Inc.
267-759-3680
ir@onconova.us
https://www.onconova.com/contact/

Investor Contact:
Bruce Mackle
LifeSci Advisors, LLC
646-889-1200
bmackle@lifesciadvisors.com

Stem Holdings (STMH)(STEM:CA) – Adding Two Dispensaries, Concentrates Line

Posted on September 21, 2021 by Admin

Tuesday, September 21, 2021

Stem Holdings (STMH)(STEM:CA)
Adding Two Dispensaries, Concentrates Line

Stem Holdings Inc is engaged in the purchasing, improving, and leasing of properties and finance assets which are operated by third parties and are used for the cultivation and retail sale of marijuana. Its properties includes 42nd Street, and Mulino Farm which are used for agriculture. The company generates its revenue in the form of rental income from tenants.

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

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

Acquisition. Yesterday, Stem announced it had acquired Artifact Extracts, an Oregon-based premier cannabis extraction company known for its award-winning concentrates, as well as two dispensaries. Stem issued 8.2 million shares of stock valued at $2.9 million for the acquisition. The acquisition will enable Stem to capture additional market share and expand its presence into the fast growing concentrates segment. Stem did not release any financials for Artifact Extracts.

Artifact Extracts. Founded in 2017, Artifact Extracts is a craft cannabis company based out of Eugene, Oregon focused on pushing industry standards through the creation of high-end extracts and premium, affordable shatter. The Company’s product line includes budder, badder, shatter, crumble, rosin and THC A crystals, among others …

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.

Cumulus Media (CMLS) – Time For A Refresh

Posted on September 21, 2021 by Admin

Tuesday, September 21, 2021

Cumulus Media (CMLS)
Time For A Refresh

CUMULUS MEDIA, Inc. (NASDAQ: CMLS) is a leading audio-first media and entertainment company delivering premium content to over a quarter billion people every month — wherever and whenever they want it. CUMULUS MEDIA engages listeners with high-quality local programming through 428 owned-and-operated stations across 87 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, the Olympics, the GRAMMYS, the American Country Music Awards, and many other world-class partners across nearly 8,000 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. CUMULUS MEDIA provides advertisers with local impact and national reach through on-air, digital, mobile, and voice-activated media solutions, as well as access to integrated digital marketing services, powerful influencers, and live event experiences. CUMULUS MEDIA is the only audio media company to provide marketers with local and national advertising performance guarantees.

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

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

A new, multi-dimensional approach. This report highlights a recent interview with CEO Mary Berner, who unveiled a new company presentation and its strategic shift toward a multi-dimensional Audio-first media company, rather than its previous Radio-first model. Click here for the full interview. We believe that the company’s recent agreement for its 413 stations and podcasts to be on the Audacy digital platform is an example of its multi-platform, multi-dimensional strategy.

Multiple revenue streams with large market opportunities. A key component of the company’s presentation was to highlight the multiple revenue streams, each with a large market opportunity. While Radio offers a post pandemic advertising recovery, the company’s Digital businesses are growing rapidly. In Q2, Digital increased 50% in revenues and accounted for 14% of total company revenues. Management …

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

Lithium Prices Continue Their Ascent

Posted on September 21, 2021 by Admin



	Image Credit: Ron Frazer (Flickr)

Future for Lithium Prices Looks Strong Due to Expected Demand Growth for EVs

The electric vehicle (EV) and li-ion battery materials sectors are moving through what may become reminiscent of the decades of growing demand we’ve experienced for chips and computers. The current surge in EV sales has helped push lithium prices to their highest level in three years. Investors taking positions in battery materials, rather than the result of the technology, can avoid trying to pick specific winners if the entire li-ion EV sector grows. Here are a few basics to be aware of if you’re looking at lithium.

Lithium-ion batteries are a key component of electric vehicles. According to an article in Reuters, lithium prices have risen to their highest in more than three years due to a surge in electric vehicle sales and depleting stocks of the battery metal in China. Year-to-date, lithium carbonate prices in China have risen significantly, with futures prices for lithium carbonate 99% Min China up from CNY$48,500 (US$7,498) per tonne at the end of 2020 to CNY$148,000 (US$22,881) per tonne on September 17. Lithium carbonate 99.5% Min China rose from CNY$52,500 (USD$8,117) at the end of 2020 to CNY$153,000 (US$23,654) on September 17. Since June 30, the prices of each have risen 85% and 76%, respectively. Equities have followed and we note that companies like Piedmont Lithium, Cypress Development, and Albemarle are up 87%, 62%, and 49% in price, respectively, on a year-to-date basis through September 17.

A Few Terms to Keep in Mind

Electric vehicle batteries use lithium carbonate or lithium hydroxide, but the industry typically cites volumes in terms of lithium carbonate equivalent. Lithium is sourced from lithium clays, metallic brines stored in man-made ponds predominantly in the desert regions of South America, and spodumene ore via hard rock mining. Producing lithium carbonate or spodumene concentrate entails different processes and cost structures. Some take it a step further by producing lithium hydroxide, which generally sells at a higher price than lithium carbonate and is preferred by some EV battery manufacturers because it increases the performance of the battery. Cypress Development Corp. provides several informative slides in their corporate presentation summarizing lithium deposit types and current lithium demand, sourced from Benchmark Mineral Intelligence.

Pictured Above:

Automobili Estrema (Italian) is a marque soon to become known for extreme technology and performance in the hypercar universe.

The Fulminea is the first automobile to use a new hybrid battery pack of lithium-ion cells with solid-state electrolyte and ultracapacitors that power 4 motors with a total output of 2,040 hp. The Fulminea will supposedly reach 200 mph in less than 10 seconds. It will be priced for the European market at the equivalent of $2.38 million

More Investment Needed

More investment in lithium production is needed to meet future needs of the electric supply chain and to avoid production disruptions like have recently been experienced due to chip shortages. Given the opportunity set, there will likely be new entrants in the lithium space in addition to mergers and joint ventures. On September 16, Sibanye Stillwater Limited announced a joint venture with Ioneer Limited where Sibanye would contribute US$490 million for a 50% interest in Ioneer’s Rhyolite Ridge Lithium-Boron project in Nevada. The joint venture represents Sibanye Stillwater’s third announced transaction in the battery materials sector which it views as a vehicle for value creation and growth in the U.S. battery metals supply chain.

Take-Away:

It is still early days in the electric vehicle and battery materials sectors. Much like the demand for chips and computers did for Silicon Valley, companies that participate in and form the supply chain for electric vehicles could be winners much like Intel, Microsoft, and Apple were in the 1970s and 1980s. For that matter, the same could be said for innovative companies that lead the way to a low carbon future.

Suggested Reading:

Lithium Batteries vs Hydrogen Fuel Cells

The High Growth of ESG Investing can Reduce Adherence to Principles

Clean vs Dirty Electrons on Power Grid

The Increasing Popularity of Uranium Investments

Sources:

Surge
in Electric Vehicle Sales Power Lithium Prices as Shortages Loom, Reuters, Zandi Shabalala, September 13, 2021.

Lithium
Price Rally Accelerates in September, Mining.com, Staff Writer, September 17, 2021.

All Lithium Is Not Created Equal. Hydroxide vs. Carbonate, Lithium 101, Piedmontlithium.com, Piedmont Lithium Inc.

What
is the Difference Between Lithium Carbonate & Lithium Hydroxide, FAQs, Bisley International, February 14, 2021.

Building
batteries: Why Lithium and Why Lithium Hydroxide, Innovation News Network, February 4, 2021.

Clayton
Valley Project, Nevada, An Advanced Stage LITHIUM Company, Corporate Presentation, Cypress Development Corp., September 2021.

Sibanye-Stillwater
and Ioneer to establish a 50:50 joint venture with respect to Ioneer’s US-based
Rhyolite Ridge Lithium-Boron project, Press Release, Sibanye Stillwater Limited, September 16, 2021.

Estrema Website

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CoreCivic Enters Into New Lease Agreement with the State of New Mexico at the Northwest New Mexico Correctional Center

Posted on September 21, 2021 by Admin

CoreCivic Enters Into New Lease Agreement with the State of New Mexico at the Northwest New Mexico Correctional Center

BRENTWOOD, Tenn., Sept. 21, 2021 (GLOBE NEWSWIRE) — CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it has entered into a new three-year lease agreement with the State of New Mexico at the Company’s 596-bed Northwest New Mexico Correctional Center. CoreCivic currently operates the Northwest New Mexico Correctional Center under a contract with New Mexico and will transition facility operations to the New Mexico Corrections Department when the new lease agreement commences on November 1, 2021. CoreCivic will retain responsibility for facility maintenance throughout the term of the lease. The new lease agreement includes automatic extension options that could extend the term of the lease through October 31, 2041.

Damon T. Hininger, CoreCivic’s President and Chief Executive Officer, said, “We are pleased to have successfully responded to the shifting needs of our government partners in New Mexico, which will allow them to continue to utilize our Northwest New Mexico Correctional Center while the New Mexico Corrections Department directly provides facility-level operations. Under the new agreement, the state will maintain access to critical capacity, we will generate fixed monthly payments under the lease, and our facility employees will be provided the opportunity to retain employment at the facility with the New Mexico Corrections Department. Including this new agreement, we lease five correctional facilities to five different states through our Properties segment. We believe solutions like this provide our government partners with increased flexibility and value.”

The average annual rent for the initial three-year lease term is $3.2 million, including annual rent of $4.2 million in the second and third years of the lease, with annual escalators thereafter. For the six months ended June 30, 2021, the Northwest New Mexico Correctional Center generated revenue of $5.3 million and incurred a facility net operating loss of $1.3 million.

About CoreCivic

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. CoreCivic provides a broad range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. CoreCivic is the nation’s largest owner of partnership correctional, detention and residential reentry facilities, and believes it is the largest private owner of real estate used by government agencies in the U.S. CoreCivic has been a flexible and dependable partner for government for more than 35 years. CoreCivic’s employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Forward-Looking Statements

This press release contains statements as to our beliefs and expectations of the outcome of future events that are “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include, but are not limited to, the risks and uncertainties associated with: (i) changes in government policy (including the United States Department of Justice, or DOJ, not renewing contracts as a result of President Biden’s Executive Order on Reforming Our Incarceration System to Eliminate the Use of Privately Operated Criminal Detention Facilities) (two agencies of the DOJ, the United States Federal Bureau of Prisons and the United States Marshals Service, utilize our services), legislation and regulations that affect utilization of the private sector for corrections, detention, and residential reentry services, in general, or our business, in particular, including, but not limited to, the continued utilization of our correctional and detention facilities by the federal government, and the impact of any changes to immigration reform and sentencing laws (we do not, under longstanding policy, lobby for or against policies or legislation that would determine the basis for, or duration of, an individual’s incarceration or detention); (ii) our ability to obtain and maintain correctional, detention, and residential reentry facility management contracts because of reasons including, but not limited to, sufficient governmental appropriations, contract compliance, negative publicity and effects of inmate disturbances; (iii) changes in the privatization of the corrections and detention industry, the acceptance of our services, the timing of the opening of new facilities and the commencement of new management contracts (including the extent and pace at which new contracts are utilized), as well as our ability to utilize available beds; (iv) general economic and market conditions, including, but not limited to, the impact governmental budgets can have on our contract renewals and renegotiations, per diem rates, and occupancy; (v) fluctuations in our operating results because of, among other things, changes in occupancy levels, competition, contract renegotiations or terminations, increases in costs of operations, fluctuations in interest rates and risks of operations; (vi) the duration of the federal government’s denial of entry at the United States southern border to asylum-seekers and anyone crossing the southern border without proper documentation or authority in an effort to contain the spread of COVID-19; (vii) government and staff responses to staff or residents testing positive for COVID-19 within public and private correctional, detention and reentry facilities, including the facilities we operate; (viii) restrictions associated with COVID-19 that disrupt the criminal justice system, along with government policies on prosecutions and newly ordered legal restrictions that affect the number of people placed in correctional, detention, and reentry facilities, including those associated with a resurgence of COVID-19; (ix) whether revoking our real estate investment trust, or REIT, election, effective January 1, 2021, and our revised capital allocation strategy can be implemented in a cost effective manner that provides the expected benefits, including facilitating our planned debt reduction initiative and planned return of capital to shareholders; (x) our ability to successfully identify and consummate future development and acquisition opportunities and our ability to successfully integrate the operations of our completed acquisitions and realize projected returns resulting therefrom; (xi) our ability, following our revocation of our REIT election, to identify and initiate service opportunities that were unavailable under the REIT structure; (xii) our ability to have met and maintained qualification for taxation as a REIT for the years we elected REIT status; and (xiii) the availability of debt and equity financing on terms that are favorable to us, or at all. Other factors that could cause operating and financial results to differ are described in the filings we make from time to time with the Securities and Exchange Commission.

CoreCivic takes no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services.

Contact:

Investors: Cameron Hopewell – Managing Director, Investor Relations – (615) 263-3024
Media: Steve Owen – Vice President, Communications – (615) 263-3107

QuickChek – September 21, 2021

Posted on September 21, 2021 by Admin

Cumulus Media Releases New Investor Presentation

Cumulus Media announced that it has released a new investor presentation

See today’s research on Cumulus Media from Michael Kupinski, Director of Research at Noble Capital Markets

Watch President and CEO Mary Berner deliver a new corporate presentation for Cumulus Media

Research, News & Market Data on Cumulus Media

Engine Media’s WinView Games Announces Partnership with Atlanta Radio Station 680 The Fan

Engine Media Holdings announced that its wholly owned subsidiary WinView Games has entered into a partnership with 680 The Fan, Atlanta’s preeminent sports radio station

Research, News & Market Data on Engine Media

Watch recent presentation from Engine Media

CoreCivic Enters Into New Lease Agreement with the State of New Mexico at the Northwest New Mexico Correctional Center

CoreCivic announced that it has entered into a new three-year lease agreementwith the State of New Mexico at the Company’s 596-bed Northwest New Mexico Correctional Center

Research, News & Market Data on CoreCivic

Watch recent presentation from CoreCivic

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Cumulus Media Releases New Investor Presentation

Posted on September 21, 2021 by Admin

Cumulus Media Releases New Investor Presentation

ATLANTA, GA — September 20, 2021: Cumulus Media Inc. (NASDAQ: CMLS) announced today that it has released a new investor presentation, which can be found on its website at www.cumulusmedia.com/investors. A virtual video presentation is available via ChannelChek as part of Noble Capital Markets’ C-Suite Interview Series via the following link: Investor Presentation Video. Access to the virtual video presentation is free of charge and open to the public.

Mary G. Berner, President and Chief Executive Officer of CUMULUS MEDIA, said, “This presentation gives both existing and new investors a deeper understanding of our multi-year strategic repositioning from a one-dimensional radio company to a multi-dimensional, audio-first media company with multiple drivers of shareholder value, including:

A continuation of recovery in the radio market,
Multiple fast-growing digital business lines,
Excellent free cash flow characteristics,
A strong balance sheet and liquidity profile, and
Substantial optionality regarding capital allocation.”

Berner continued, “With our proven team and track record of success, we believe that Cumulus Media is exceedingly well-positioned to deliver significant additional upside to shareholders.”

Upcoming Conference:

Deutsche Bank 29^th Annual Leveraged Finance Conference: Management will present on October 6, 2021, at 8:00 AM Eastern Time, and will host one-on-one meetings on October 5-6, 2021.

About CUMULUS MEDIA

CUMULUS MEDIA (NASDAQ: CMLS) is a leading media, advertising, and marketing services company delivering premium content to over a quarter billion people every month — wherever and whenever they want it. CUMULUS MEDIA engages listeners with high-quality local programming through 413 owned-and-operated radio stations across 86 markets; delivers nationally-syndicated sports, news, talk, and entertainment programming from iconic brands including the NFL, the NCAA, the Masters, CNN, the AP, the Academy of Country Music Awards, and many other world-class partners across nearly 7,300 affiliated stations through Westwood One, the largest audio network in America; and inspires listeners through the CUMULUS Podcast Network, its rapidly growing network of original podcasts that are smart, entertaining and thought-provoking. CUMULUS MEDIA provides advertisers with personal connections, local impact and national reach through broadcast and on-demand digital, mobile, social, and voice-activated platforms, as well as integrated digital marketing services, powerful influencers, full-service audio solutions, industry-leading research and insights, and live event experiences. CUMULUS MEDIA is the only audio media company to provide marketers with local and national advertising performance guarantees. For more information visit www.cumulusmedia.com.

Disclosure Regarding Forward-Looking Statements

Certain statements in this release may constitute “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Such statements are statements other than historical fact and relate to our intent, belief or current expectations primarily with respect to our future operating, financial, and strategic performance. Any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual results may differ from those contained in or implied by the forward-looking statements as a result of various factors including, but not limited to, risks and uncertainties related to the implementation of our strategic operating plans, the evolving and uncertain nature of the COVID-19 pandemic and its impact on the Company, the media industry, and the economy in general and other risk factors described from time to time in our filings with the Securities and Exchange Commission. Many of these risks and uncertainties are beyond our control, and the unexpected occurrence or failure to occur of any such events or matters could significantly alter our actual results of operations or financial condition. CUMULUS MEDIA assumes no responsibility to update any forward-looking statements, which are based upon expectations as of the date hereof, as a result of new information, future events or otherwise.

For further information, please contact:

Investor Relations Department
IR@cumulus.com
404-260-6600

Source: Cumulus Media

Engine Media’s WinView Games Announces Partnership with Atlanta Radio Station 680 The Fan

Posted on September 21, 2021 by Admin

Engine Media’s WinView Games Announces Partnership with Atlanta Radio Station 680 The Fan

Partnership Expands on Current Partnership Between Engine Media’s Frankly Media and 680 The Fan

NEW YORK, September 21, 2021 — Engine Media Holdings, Inc. (“Engine” or the “Company”; NASDAQ: GAME; TSX-V: GAME), an esports/sports gaming and next-generation media solutions company, today announced that its wholly owned subsidiary, WinView Games (“WinView”) has entered into a partnership with 680 The Fan, Atlanta’s preeminent sports radio station, to elevate listener engagement with live games of skill that test the audience’s sports IQ for cash or fun. The partnership consists of exclusive WinView contests and promotions that are synchronized to 680 The Fan’s broadcast and website. These contests will allow people to play along while they listen or watch a game, which will span Braves, Hawks, Falcons, Bulldogs, and Yellow Jackets games. These games will be produced in both live and pregame modes, which will allow users to constantly engage with the events.

This partnership illustrates Engine’s unique position in the skills-based gaming market and its ability to combine media solutions with social gaming experiences to create truly one-of-a-kind experiences. 680 The Fan has worked with Engine’s wholly-owned subsidiary, Frankly Media (“Frankly”), to develop and manage its digital sports destination, including leveraging its live streaming audio and video platform. WinView’s newly announced partnership with 680 The Fan is a perfect compliment.

This is the first partnership of its kind and has the potential to be replicated with other media platforms and to evolve into team partnerships. The decision for WinView to partner with 680 The Fan is driven by their impressive content and large sports following that will promote and market WinView Games. The decision for 680 The Fan to partner with WinView is driven by their commitment to continue improving fan engagement through the play-along game prediction platform offered by WinView. This commitment will be furthered by three of their top on-air personalities (Matt Chernoff, Carlos Medina, and Brian Hoyt) driving the program through the airwaves.

Scott McFarlane, Operations Director of 680 The Fan commented on the announcement stating, “We are excited about delivering these promotions to our listeners. This is a thrilling way to improve fan engagement and interaction with the station and the teams. Our partnership with WinView is another opportunity to enhance the digital sports destination we have been building with Frankly and Engine.”

“Partnering with outlets such as 680 The Fan is another example of Engine Media’s long-term growth plan. We are thrilled to continue partnering with this world-class team,” added Engine Media Chief Executive Officer Lou Schwartz. “Partnerships like this help broadcasters drive audience engagement and realize new streams of revenue. Additionally, social gaming is a way to engage fans by allowing them to demonstrate their sports IQ competing against other fans and winning cash.”

About Engine Media Holdings, Inc.

Engine Media Holdings Inc. is traded publicly under the ticker symbol (NASDAQ: GAME) (TSX-V: GAME). Engine provides premium social sports and esports gaming experiences, as well as unparalleled data analytics, marketing, advertising, and intellectual property to support its owned and operated direct-to-consumer properties while also providing these services to enable its clients and partners. The company’s subsidiaries include Stream Hatchet, the global leader in gaming video distribution analytics; Sideqik, a social influencer marketing discovery, analytics, and activation platform; Eden Games, a premium motorsport video game developer and publisher across console and mobile gaming; WinView Games, a social predictive play-along gaming platform for viewers to play while watching live events; UMG, an end-to-end competitive esports platform powering and broadcasting major esports events, as well as daily community tournaments, matches, and ladders; and Frankly Media, a digital publishing platform used to create, distribute and monetize content across all digital channels. Engine Media generates revenue through a combination of direct-to-consumer and subscription fees, streaming technology and data SaaS-based offerings, programmatic advertising, and sponsorships.

About Frankly Media

Frankly Media provides a complete suite of solutions that give publishers a unified workflow for the creation, management, publishing and monetization of digital content to any device, while maximizing audience value and revenue. Frankly delivers publishers and their audiences the solutions to meet the dynamic challenges of a multi-screen content distribution world.

Frankly’s comprehensive advertising services maximize ROI for our customers, including direct sales and programmatic ad support. With the release of our server-side ad insertion (SSAI) platform, Frankly is well-positioned to help video producers take full advantage of the growing market in addressable advertising.

Frankly’s technology products include a groundbreaking online video platform for Live, VOD and Live-to-VOD workflows, a full-featured CMS with rich storytelling capabilities, as well as native apps for iOS, Android, Apple TV, Fire TV and Roku.

About WinView Games

WinView Games is a Silicon Valley based company that is focused on paid entry, mobile two-screen synchronized televised sports games of skill in the U.S. The Company plans to leverage its extensive experience in pioneering real-time interactive television games played on the mobile second screen, its foundational patents and unique business model. The WinView app is an end-to-end two-screen TV synchronization platform for both television programming and commercials. The paid entry, skill-based WinView Games app uniquely enhances TV viewing enjoyment and rewards sports fans with prizes as they answer in-game questions while competing with friends in real-time during live televised sports. These games of skill are legal in 36 states. For more information, please visit www.winviewgames.com.

About Dickey Broadcasting Company

Dickey Broadcasting Company has been an Atlanta Sports institution for over 28 years. In addition to launching the sports-talk radio format in Atlanta (680 The Fan), DBC owns and operates multiple radio networks (The Braves Radio Network and Southern Sports Today), a conservative talk station (Xtra 106.3), robust digital and mobile offerings, and a sports-based events series (Tailgate Central). DBC’s headquarters and studios are located inside the Battery Atlanta.

Cautionary Statement on Forward-Looking Information

This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Engine to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. In respect of the forward-looking information contained herein, including the marketing partnership described herein and the potential outcomes and benefits to be derived therefrom, Engine has provided such statements and information in reliance on certain assumptions that management believed to be reasonable at the time. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements stated herein to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on forward-looking information contained in this news release.

The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. Engine does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.

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

For Further Information:

Investors
Ryan Lawrence, ICR
Ryan.Lawrence@icrinc.com
332-242-4321

Media
James Goldfarb, Sloane & Company
jgoldfarb@sloanepr.com
212-446-1869

Source: Engine Media Holdings, Inc.

Telsa’s Competitive Headwinds

Posted on September 21, 2021 by Admin

Will U.S. Car Companies be Handed Different EV Advantages?

Most investors will know these answers: What’s the world’s largest car company by market cap? What company builds the most electric vehicles (EVs)? Which car is the most “Made in the USA?” And finally, which large U.S. auto manufacturer was not invited when The White House announced plans to “Drive American Leadership Forward on Clean Cars and Trucks”?

Answers

Tesla, the electric car company that was founded by South African-born Elon Musk, has the highest market cap of any car company in the world, currently at $742 billion. The second largest is Toyota, approximately one-third the value at $254 billion. Tesla also happens to be the company that builds the most electric cars, measured by the actual number of vehicles and percentage of fleet (100%). The next answer is the car with the most parts sourced from American materials and labor (just over 70%) is the Telsa Model 3. The Model Y is in the third position while the Ford Mustang qualifies for second place. The last answer; when The White House invited U.S. car manufacturers to the White House on August 5 to sign an order that kicks-off the target of 50% electric vehicle sales each by 2030, to advance smart fuel efficiency and emission standards, Elon Musk and Tesla were not on the invite list.

Car Talk

There were a number of news stories written about the White House “snubbing” Elon. Financial TV personalities discussed it as odd or even insulting that he wasn’t invited, and Musk’s preferred social media platform, Twitter, erupted with sub-280-character commentary. We may never know the answer as to why. One of the “U.S. Big Three” car manufacturers that were there is an American subsidiary of a Dutch-domiciled automotive company, so it could be argued that they had no more business being invited than Honda or many others.

The reason may be as simple as the car manufacturers that were included in the signing ceremony, don’t meet the fleet percentage goals laid out in the non-binding executive order. In contrast, Tesla has exceeded the target set for 2030 and beyond. We don’t know if this was the rationale, but this could make sense.

Another thought on why the head of the car company where all models are electric was not included is that there really was no reason for him to be there. One thing that is in the infrastructure bill is to subsidize manufacturers when fewer than half their cars sold, are electric. Tesla won’t qualify as they have met the goal, in fact, they sell so many EVs that purchasers no longer qualify for government rebates as they do with other manufacturers that sell less than 200,000 EVs a year.

Some have questioned if there is something much more political behind Musk not be included at this ceremony. It has also been pointed out that after one of his other companies sent four civilians into space for the first time, there was no congratulatory phone call from The White House. Those that question the relationship between him or his companies with politicians point out that he is the only non-union car company headquartered in the states. Could there be pressure from political donors to avoid the founder? Another thing Musk and his company are excluded from suggests there may actually be some politics at play. Within the $3.5 billion proposed infrastructure bill, there is money set aside to create rebates for purchasers of EVs. However, this rebate only applies if the car was built with union labor. This clearly works to disadvantage Tesla’s business structure.

Entrepreneurial Spirit

The Founder and CEO of Tesla is a serial entrepreneur. Each company, whether it be Paypal, The Boring Company, SpaceX , Tesla, or others he started along the way are unique and probably required a lot of autonomy. The required autonomy is because the ideas may have seemed farfetched or beyond anyone’s grasp to accomplish. Less autonomy may have only served to undermine his success.

It may be this independent trait that separates him from those in government. Those that are more inclined to set an agenda and expect that others will fall in line. Some fall in line because their hand is out on behalf of their stockholders for assistance; others fall in line because they don’t have better ideas themselves. One example where Musk openly did not fall in line is when he resigned from two advisory councils during the last administration. Elon Musk was determined to only align himself with those that he felt were pro-environment. The U.S. backing out of the Paris Climate Agreement worked against this ethic, so he decided to resign from the White House’s Manufacturing Jobs Initiative and Strategic and Policy Forum, and the Economic Advisory Council.

Investor Take-Away

To operate a business in a country that can even consider spending the large $3.5 trillion for upgrades, change, improvements, and incentives to build toward a more solid future is positive for the company. If the trillions are spent in an uneven way, investors should pay attention to the industries that benefit and companies within those industries – specifically, the industries and companies that could benefit or be hurt by lopsided handling of funds used for growth.

The news outlets and avid Tweeters seem to exist to convey their thoughts and to a lesser extent, put on a show. Whether there was a snub of a U.S. car company (or its head) is really just gossip. Investors don’t make money off gossip. However, trends are important and so is a competitive advantage. Pay attention to how all the car companies are treated; there may be opportunities if one or more are favored during the coming changes.

Email me your thoughts on this or other investment matters directly if you’d like. If you aren’t registered to receive our articles and access to equity research take a second and leave your email here now.

Paul Hoffman

Managing Editor, Channelchek

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