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Comstock Invests $15,000,000 in Initial Seed Round for Quantum Computing to Accelerate Material Science Discovery and Development

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Comstock Invests $15,000,000 in Initial Seed Round for Quantum Computing to Accelerate Material Science Discovery and Development

 

Virginia City, NV (June 24, 2021) – Comstock Mining Inc. (NYSE: LODE) (“Comstock” or the “Company”) today announced its execution of agreements to purchase an additional 5% of its 45%-owned technology development partner, Quantum Generative Materials LLC (“GenMat”), in exchange for $50 million.

The Company will provide an initial $15 million in cash and stock over the next six months, and an additional $35 million upon GenMat’s realization of key development milestones. The proceeds will be used to expand on the development efforts of GenMat’s founders, with the primary goal of commercializing new quantum computing technologies to accelerate material science discovery and development.

Quantum Computing

Classical computing relies on binary states in order to complete logical operations and that state is either on or off. True or false. One or zero. In contrast, quantum computing is based on physical systems that can be in multiple states simultaneously, with each state having a probability of occurring after measurement. To a quantum computer, that state can simultaneously be black, white, and every shade of grey in between. The distinction is powerful, and it gives quantum computers the potential to process exponentially more operations far more efficiently than classical computers. GenMat is developing a proprietary quantum operating system to exploit that potential and harness emerging quantum computing technologies to develop breakthrough new materials for use in high-impact applications, including batteries, mining and carbon capture and utilization.

“Quantum computing has the profound potential to resolve urgent challenges of our time, such as global resource scarcity and climate change,” said Corrado De Gasperis, Comstock’s Executive Chairman and Chief Executive Officer. “We have been working for some time on the frontier of new materials development with GenMat’s world-class team and network of quantum computing professionals and material scientists. We believe that their work will make many positive and disruptive contributions, especially in our existing and planned industries. We are honored to participate and provide funding and commercialization support to such an exceptional and growing team of transformational professionals.”

Strategic to Existing Lines of Business

While GenMat’s intended offerings will be industry agnostic when it emerges from stealth mode, Comstock is laser focused on applications that accelerate the development of new clean technologies to address resource scarcity by facilitating climate smart mining, electrification, and decarbonization. Consequently, in addition to its investment, Comstock also secured exclusive rights to use GenMat’s quantum technologies to complement and enhance its existing operations and planned technological and new business developments.

“Comstock’s lithium-ion battery operations provide an excellent example of the application potential of GenMat’s work,” continued De Gasperis. World-wide lithium-ion battery (“LIB”) production capacity has increased tenfold in the past decade. According to a recent report from the International Energy Agency (“IEA”), demand for lithium is expected to increase to about 155 kilotons per year by 2030, in part to fill global demand for electric vehicles (“EVs”). ARK Invest recently concluded that EV sales will increase from about 2 million EVs per year to about 40% of global auto sales within five to six years. Tesla (NASDAQ: TSLA) CEO Elon Musk provided a similar estimate, tweeting his view that the industry could produce 30 million EVs per year by 2027. Hitting that output will require about 1.8 million tons per year of lithium carbonate equivalent (“LCE”), or about five times more than the entire lithium mining industry produces today, and more than fifteen times the total LCE used in producing new EVs in 2020. The mining and battery manufacturing industries can scale up to meet that demand, however, there are only about 80 million tons of identified lithium resources worldwide, and EV batteries are typically rated for eight to ten years of use.

Mr. De Gasperis concluded, “Among other applications, we plan to use GenMat’s platform to enhance our extraction and refining of lithium and other scarce electrification metals, and then to design and produce dramatically improved battery components with those and other metals. Even then, we would be barely scratching the surface of the potential that quantum computing technologies offer. We’re looking forward to supporting GenMat’s development, and using our license rights to systemically maximize financial, natural and social impact for all of our stakeholders.”

About Comstock Mining Inc.

Comstock (NYSE: LODE) is an emerging leader in the sustainable extraction, valorization, and production of innovation-based, clean, renewable natural resources, with a focus on high-value, cash-generating, strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products. To learn more, please visit www.comstockmining.com.

Comstock is also set to join the Russell MicrocapÒ Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28, according to a preliminary list of additions posted June 4, 2021. Membership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: consummation of all pending transactions; project, asset or Company valuations; future industry market conditions; future explorations, acquisitions, investments and asset sales; future performance of and closings under various agreements; future changes in our exploration activities; future estimated mineral resources; future prices and sales of, and demand for, our products; future impacts of land entitlements and uses; future permitting activities and needs therefor; future production capacity and operations; future operating and overhead costs; future capital expenditures and their impact on us; future impacts of operational and management changes (including changes in the board of directors); future changes in business strategies, planning and tactics and impacts of recent or future changes; future employment and contributions of personnel, including consultants; future land sales, investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives; the nature and timing of and accounting for restructuring charges and derivative liabilities and the impact thereof; contingencies; future environmental compliance and changes in the regulatory environment; future offerings of equity or debt securities; asset sales and associated costs; future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: counterparty risks; capital markets’ valuation and pricing risks; adverse effects of climate changes or natural disasters; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mining activities; contests over title to properties; potential dilution to our stockholders from our stock issuances and recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting businesses; permitting constraints or delays; decisions regarding business opportunities that may be presented to, or pursued by, us or others; the impact of, or the non-performance by parties under agreements relating to, acquisitions, joint ventures, strategic alliances, business combinations, asset sales, leases, options and investments to which we may be party; changes in the United States or other monetary or fiscal policies or regulations; interruptions in production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, cyanide, water, diesel fuel and electricity); changes in generally accepted accounting principles; adverse effects of terrorism and geopolitical events; potential inability to implement business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors or others; assertion of claims, lawsuits and proceedings; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the SEC; potential inability to list our securities on any securities exchange or market; inability to maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund or any other issuer.

Contact information:
Comstock Mining Inc.
P.O. Box 1118
Virginia City, NV 89440
ComstockMining.com		 Corrado De Gasperis
Executive Chairman & CEO
Tel (775) 847-4755
[email protected]		 Zach Spencer
Director of External Relations
Tel (775) 847-5272 Ext.151
mailto:[email protected]

Tony Wells Joins Gevo as General Manager for Net-Zero 1

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Tony Wells Joins Gevo as General Manager for Net-Zero 1

 

ENGLEWOOD, Colo., June 24, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ:GEVO), announced today that Tony Wells has joined Gevo as its General Manager/Site Leader for its future Net-Zero 1 facility expected to be located in Lake Preston, South Dakota. Mr. Wells brings 30+ years of operations management, engineering, and business development experience across industries including corn milling, food processing, ethanol and biodiesel production. He is expected to lead and assemble the organization that will operate the Net-Zero 1 facility.

“Tony is the real deal. He is a ‘been there, done it’ person and a skilled general manager. He knows how to build teams and operations. His experience in engineering and plant design should not be lost on anyone either. We are glad to have him with us. He’s good,” said Dr. Patrick R. Gruber, Gevo’s Chief Executive Officer.

“Becoming part of the team behind Net-Zero 1 is a monumental privilege,” said Mr. Wells. “Assembling the team that will be the driving force of this first of its kind, state-of-the-art facility is the highlight of my career,” continued Mr. Wells.

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI.

Learn more at Gevo’s website: www.gevo.com

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including the hiring of Tony Wells, Gevo’s technology, Gevo’s Net-Zero 1 project, Gevo’s products, Gevo’s ability to produce products with “net-zero” greenhouse gas emissions, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Investor and Media Contact

+1 720-647-9605

[email protected]

Longeveron Announces Abstract Highlighting Data from Phase 1 Alzheimer’s Disease Trial Accepted for Developing Topics Presentation at the 2021 Annual Alzheimer’s Association International Conference

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Longeveron Announces Abstract Highlighting Data from Phase 1 Alzheimer’s Disease Trial Accepted for Developing Topics Presentation at the 2021 Annual Alzheimer’s Association International Conference

 

Abstract presentation highlights safety and potential efficacy of Lomecel-B infusion in patients with mild Alzheimer’s Disease

MIAMI, June 24, 2021 (GLOBE NEWSWIRE) — Longeveron Inc. (NASDAQ: LGVN), a clinical stage biotechnology company developing cellular therapies for aging-related and chronic disease, announced today that an abstract summarizing the results of its Phase 1 trial of Lomecel-B infusion for patients with mild Alzheimer’s disease has been accepted for a Developing Topics poster presentation at the 2021 Annual Alzheimer’s Association International Conference, being held July 26-30, 2021 in Denver, CO and online.

The abstract is titled “Safety and Efficacy of Lomecel-B in Patients with Mild Alzheimer’s Disease: Results of a Double-Blinded, Randomized, Placebo-Controlled, Phase 1 Clinical Trial.” This 33 subject study was supported by two competitive Part the Cloud Challenge on Neuroinflammation grants from the Alzheimer’s Association. The previously announced results can be found on the “News and Events” page in the Investors section of Longeveron’s website at investors.longeveron.com.

“We are extremely pleased that the Alzheimer’s Association has recognized our trial and data by giving us this opportunity to present the findings in poster presentation form at the prestigious AAIC,” said Dan Gincel, Ph.D., Senior Vice President of Strategic Collaborations & Scientific Affairs at Longeveron. “The trial met its primary endpoint of demonstrating safety and feasibility, and importantly, no Alzheimer’s Related Imaging Abnormalities (ARIA), after infusion with Lomecel-B. Furthermore, we were thrilled to observe that treatment with low-dose Lomecel-B slowed cognitive decline compared to the placebo group as measured by the Mini Mental State Exam (MMSE) score. As a result, we look forward to advancing Lomecel-B into a Phase 2 clinical trial in the second half of 2021.”

Information about the Annual Alzheimer’s Association International Conference can be found at www.alz.org/aaic/overview.asp.

About Longeveron Inc.

Longeveron is a clinical stage biotechnology company developing cellular therapies for specific aging-related and life-threatening conditions. The Company’s lead investigational product is the LOMECEL-B™ cell-based therapy product (“Lomecel-B”), which is derived from culture-expanded medicinal signaling cells (MSCs) that are sourced from bone marrow of young, healthy adult donors. Longeveron believes that by using the same cells that promote tissue repair, organ maintenance, and immune system function, it can develop safe and effective therapies for some of the most difficult disorders associated with the aging process and other medical disorders. Longeveron is currently sponsoring Phase 1 and 2 clinical trials in the following indications: Aging Frailty, Alzheimer’s disease, and hypoplastic left heart syndrome (HLHS). The Company’s mission is to advance Lomecel-B and other cell-based product candidates into pivotal Phase 3 trials, with the goal of achieving regulatory approvals, subsequent commercialization and broad use by the healthcare community. Additional information about the Company is available at www.longeveron.com.

Forward-Looking Statements

Certain statements in this press release that are not historical facts are forward-looking statements that reflect management’s current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as “believe,” “expects,” “may,” “looks to,” “will,” “should,” “plan,” “intend,” “on condition,” “target,” “see,” “potential,” “estimates,” “preliminary,” or “anticipates” or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are not limited to, statements about the ability of our clinical trials to demonstrate safety and efficacy of our product candidates, and other positive results; the timing and focus of our ongoing and future preclinical studies and clinical trials; the size of the market opportunity for our product candidates, the beneficial characteristics, safety, efficacy and therapeutic effects of our product candidates; our ability to obtain and maintain regulatory approval of our product candidates, our plans and ability to obtain or protect intellectual property rights, including extensions of existing patent terms where available and our ability to avoid infringing the intellectual property rights of others. Further information relating to factors that may impact the Company’s results and forward-looking statements are disclosed in the Company’s filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Contact:

Brendan Payne
Stern Investor Relations, Inc.
Office Direct: 212-698-8695 |Office Main: 212-362-1200
[email protected] | www.sternir.com

Source: Longeveron Inc

Esports Entertainment Group Partners with Indian Gaming Esports Association and Spectrum Gaming Capital to Bring Esports to Tribal Nations and Casinos

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Esports Entertainment Group Partners with Indian Gaming Esports Association and Spectrum Gaming Capital to Bring Esports to Tribal Nations and Casinos

 

Newark, New Jersey–(Newsfile Corp. – June 24, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW), an esports entertainment and online gambling company, signed a partnership agreement with the Indian Gaming Esports Association (“iGEA”), the first-ever tribal esports organization to advance esports adoption among tribal nations and casinos; and with Spectrum Gaming Capital, international consultants and investment bankers.

Under the terms of the agreement, Esports Entertainment Group will be the exclusive provider of esports technology and services to iGEA as it seeks to integrate a full suite of B2C and B2B esports services to tribes and tribal casinos.

“Indian Gaming has historically been a key driver of industry evolution, and with our entrance into esports, we plan to keep our nations at the forefront of gaming’s newest trends,” said Oneida Nation’s Ernest Stevens III, CEO of iGEA. “Esports Entertainment Group has the vision, expertise, and, most importantly, the assets for a turnkey business operation and future-minded strategy that aligns with the best interests of tribes and tribal casinos; no need to re-invent the wheel. Additionally, Spectrum Gaming Capital has the relationships and strategic capabilities to help drive this new venture to real success.”

“This is a tremendous opportunity to pioneer a massive untapped market,” said Grant Johnson, CEO of Esports Entertainment Group. “We look forward to providing iGEA the tools and technology necessary to execute on their vision of building and leading the esports ecosystem for tribal nations.” Robert Heller, CEO of Spectrum Gaming Capital, added: “The entire Spectrum Gaming Group of Companies see the potential for iGEA to create a tribal-centric esports organization that will foster members’ opportunities to compete nationally and globally, and tie into tribal casino operations in those states where betting on esports is permitted by law.

About iGEA

IGEA is being formed as a non-profit corporation with the intent to organize and promote tribal participation and competition in esports. Analogous to the International Olympics Committee, iGEA will support formation and training of tribal teams and leagues to compete regionally and nationally as well as internationally. IGEA will foster game integrity, in part, to enable regulated betting, where allowed, that will increase fan engagement and sponsorships to provide funding to foster player growth and tribal identity.

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.

About Spectrum Gaming Capital

Spectrum Gaming Capital offers M&A and investment-banking advisory services to the global gaming and gambling industries, working with developers of casinos to help them organize, arrange strategic partnerships and raise capital; providing mid-market M&A and financing services, as well as a variety of advisory services including valuation, expert witness, due diligence, and negotiation support. We are part of the Spectrum Gaming Group of Companies which includes specialty practices in esports, sports wagering, igaming, lotteries, anti-money laundering, economic analysis and government policy, and is a global leader in providing governments with services related to licensing investigations (“NFC Global”), and data (“Spectrumetrix”), as well as geographic specialty groups focused on Asia and Latin America.

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
[email protected]

Media & Investor Relations Inquiries – [email protected]
[email protected]

Clean vs Dirty Electrons on Power Grid

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Image Credit: Amazon


Big Tech Doing Whatever it Takes to Demonstrate Commitment to Green Solutions

 

An increasingly digitized world leads to increasing demand for data centers and concomitant electricity. As large data center companies like Google, Microsoft, Amazon, and Facebook try to appease investors by maintaining above-average ESG scores, some have committed to using only renewable energy in the coming years. The challenge in the magnitude of growth in energy usage isn’t whether they can buy “clean” electrons, it’s whether the increased electric demand they cause is forcing electric production from non-renewables to be used at higher amounts elsewhere. Net/net, the added emitted carbon would indirectly be caused by them.

 

The Challenge

Data-intensive technologies include everything from social media giants, video streaming providers, artificial intelligence, smart and connected energy systems, distributed manufacturing systems, and even new technologies such as autonomous vehicles.  These all promise to increase demand for energy, they are all energy-intensive. Data centers today are estimated to account for around 1% of worldwide electricity use.

The companies that have the largest data centers have corporate commitments related to clean energy. This has led the large tech companies to compete to secure electricity deals with renewable sources to continue operations while also moving toward more green corporations. If these moves don’t reduce emissions but instead cause a ramp-up of a fossil fuel plant in another part of town to go out to residential consumers, the companies have failed at their goal; they could actually increase total emissions.

 

Surprising Solution

On Wednesday (June 23) Amazon.com announced commitments to buy electric green electric generating capacity in the amount of 1.5 gigawatts.  The purchases are from 14 new solar and wind plants in different parts of the world. Amazon is pushing to purchase enough renewable generating capacity to cover all of the company’s activities by 2025.

Public, non-utility companies are stepping in to finance the transition to a more sustainable economy to at least make sure they are not creating a dirty KWh shell game with their energy usage. In some countries, tech companies’ ability and willingness to sign commitments to buy energy at a certain price for long periods and pay upfront has placed capitalism as more impactful than government subsidies as the main driver of renewable improvements.

Amazon is the largest renewable energy purchaser worldwide, with the rest of the top six being French oil company Total Energies, AT&T, Google, Facebook, and Microsoft. According to BloombergNEF, these companies account for 30% of the 25.7 gigawatts of the cumulative total capacity purchased from corporations.

The challenge now is showing if these green power purchases are replacing power that would be generated from carbon-emitting plants or simply increasing power generation to feed their own growing energy consumption. This is important because the companies want to express to the world that they are reducing total carbon output. It’s great to not be part of the problem, but your corporate halo shines even brighter if you can show you are part of the solution.

According to the Wall
Street Journal, Nat Sahlstrom, director of energy at Amazon Web Services, said the company looks for projects where it can be first to set up a commercial template other companies can follow to help jump-start demand. And, that Amazon only selects projects based on whether its purchasing commitments are pivotal to the projects’ viability. “If not for our investments in these projects, they would not have gone forward,” the Amazon director of energy said.

 

Changing Roles

You read the last paragraph correctly, Amazon has a director of energy in their web services division. Big tech companies have built up in-house teams with former deal makers at electrical utilities who are outsourcing deals directly with providers. These deals are big enough they aren’t brokered; there’s no need to be introduced by a middleman when you’re Amazon or Google, they’re given high priority.  

One advantage these dealmakers have is there need not be any kind of financing in many of the arrangements. If there is bank financing, the power purchase agreements (PPA) are so strong, they are given favorable terms.

 

 

Take-Away

If the pool of available electricity is X% renewables, and Y% fossil, just because your company is buying only from the renewables doesn’t mean you’re any better of a corporate citizen than those who are buying from the overall pool, which then consists of more fossil fuel-generated energy. What data centers are doing to quench their ever-growing appetite is proactively working with renewable energy providers to build more output onto the grid that meets or even exceeds their current and future demands.

Paul
Hoffman

Channelchek, Managing Editor

 

Suggested Reading:

The Increasing Popularity of Uranium Investments

Advanced Battery Storage Goals of the US Dept. of Energy



The PCE Deflator and the Trimmed PCE Inflation Rate Tell Different Stories

Most Watched Channelchek C-Suite Interviews from 2020

 

Sources:

https://science.sciencemag.org/content/367/6481/984?fbclid=IwAR3EuU0ic5BeHf64tqM23llnrPwixCQ8VTIGFPOjzwBUZy6gUkiycjwYH2Y

https://www.sustainalytics.com/esg-rating/facebook-inc/1028643709/

https://www.wsj.com/articles/amazon-and-other-tech-giants-race-to-buy-up-renewable-energy-11624438894?mod=business_lead_pos1https%3A%2F%2Fwww.wsj.com%2Farticles%2Famazon-and-other-tech-giants-race-to-buy-up-renewable-energy-11624438894%3Fmod%3Dbusiness_lead_pos1&fbclid=IwAR2FfMesIQlLOwIJbo7gWqpw9WejYUGpdvMxK_Z_1cRgiC4EHmoAS1iEwVw

https://www.wsj.com/articles/wind-solar-power-made-strong-gains-in-2020-iea-says-11620709200?mod=article_inline

 

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enCore Energy Announces Positive Preliminary Economic Assessment (PEA) Results and combined, N.I. 43-101 Technical Report for its Juan Tafoya-Marquez Project, New Mexico

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enCore Energy Announces Positive Preliminary Economic Assessment (PEA) Results and combined, N.I. 43-101 Technical Report for its Juan Tafoya-Marquez Project, New Mexico

 

CORPUS CHRISTI, Texas, June 24, 2021 /PRNewswire/ – enCore Energy Corp. (TSXV: EU) (OTCQB: ENCUF) (the “Company” or “enCore“) is pleased to announce the results of a Preliminary Economic Assessment (“PEA”) for the company’s recently consolidated Juan Tafoya and Marquez projects located in the Grant’s Uranium District in northwest New Mexico.  This is the first PEA for the projects as this is the only time in recent history that the two contiguous mineralized properties have been held under the same company.  The PEA was constructed based on a combined and updated NI 43-101 Technical Report using an Indicated resource of 7.1 million tons at a grade of 0.127% eU3O8 for a total of 18.1 million pounds of U3O8.

The PEA reports the Net Present Value (“NPV”) for the project that ranges from $20.9 million using $60.00 per pound of yellowcake (U3O8) to $71.2 million using  $70.00 per pound of yellowcake with internal rate of returns (“IRR”) ranging from 17% to 39% with corresponding yellowcake prices; these scenarios are pre-tax and assume a 7% discount rate. The break-even price of production is estimated to be $56.00 per pound. 

 “This initial PEA enables enCore to illustrate the economic opportunities of the combined Juan Tafoya and Marquez deposits which have been consolidated with the Westwater Resources transaction completed at year end 2020.  This report assumed conventional underground operation and recovery through a newly constructed conventional mill, though the authors did acknowledge that further research may prove the property amenable to either in-situ recovery (“ISR”) or heap leach processing; either of which would have a positive material impact on the economic conclusions of the current PEA.” said Paul Goranson, Chief Executive Officer. “This study points to the economic importance of our conventional assets in New Mexico, with further work it may well be determined that some, or conceivably most, of the uranium at Juan Tafoya-Marquez might be amenable to lower cost recovery options including ISR or heap leaching.”

The PEA evaluated the economics of mining at Juan Tafoya-Marquez through underground mining and on-site processing (milling) to produce yellowcake. The study has an effective date of June 9, 2021, and was prepared by Douglas L. Beahm, P.E, P.G., of BRS Inc. in cooperation with Terence P. McNulty, P.E., PhD, of McNulty and Associates.

PEA Summary Mine Plan and Operating Assumptions

Total Tons mined

6,033,000

Total Tons Waste mined

1,392,000

Total Tons of Resource mined

4,641,000

Total Pounds Yellowcake ( U3O8  ) Contained

12,184,000

Average Diluted Grade %  U3O8

0.188%

Total Pounds  U3O8 Recovered @ 95% recovery

11,575,000

Life of Mine

15 years

PEA Summary Capital and Operating Costs

Initial Capital Costs (including contingency)

Mine Direct Capital

$42,110,000

Mill and Tailings Capital

$37,200,000

Total LOM Capital Costs

$79,310,000

Life of Mine Cost Summary

Cost Center

Total Cost US$ (x1,000)*

Cost per Pound Recovered US$

OPEX Mine

$308,000

$26.62

OPEX Mill

$184,000

$15.90

Decommissioning and Reclamation

$13,000

$1.11

Taxes and Royalties

$53,000

$4.55

TOTAL OPEX (LOM)

$558,000

$48.10*

*rounded

PEA Summary Economics at $60.00/lb. Yellowcake (U3O8)

Pre-tax and Royalty NPV at 7%

$20,595,000

Pre-tax and Royalty IRR

17%

Post Tax and Royalty NPV at 5%

$18,473,000

Post Tax and Royalty IRR

16%

Post Tax payback

5.0 years

Total LOM Revenue

$694,474,000

Total LOM Direct Costs

$523,699,000

Total LOM Royalties

$33,566,000

Total LOM Taxes

$3,225,000

Total cash Flow after taxes and royalties

$54,674,000

Cash Cost ($/lb.  U3O8)

$42.53

The base case summarized above assumes the owner will purchase all mining equipment.  The base case assumes mining and milling at an average rate of 1000 tons per day year-round

Sensitivities

U3O8 Price US$/lb

$60

$65

$70

Pre-Tax NPV 5% $000

$20,914

$50,970

$71,199

Pre-Tax IRR

17%

30%

39%

Mineral Resources

The mineral resources used in this PEA include Indicated mineral resources estimated by Douglas Beahm.  The resources are found in two different stacked sands currently identified on the Juan Tafoya-Marquez property. Mineralization occurs in a third upper sand but is insufficiently defined to be included in this report.  The in-situ estimates used electronic logs from 926 drill holes and over 575,809 meters of drilling. 

Indicated Mineral Resources

Indicated Mineral Resources


Minimum 0.60 GT

TONS

%eU3O8

Pounds

C Sand

1,426,355

0.156

4,455,706

D Sand

5,685,244

0.120

13,678,258

TOTAL

7,111,599

0.127

18,133,964

ROUNDED TOTAL (x 1,000)

7,100

0.127

18,100

Disclosure

The PEA is only summarized in this press release as an initial high-level review of the project the complete detailed report will be filed on SEDAR within 30 days of this press release.  The PEA is preliminary in nature.  There is no guarantee that the project economics described in this report will be achieved.

Qualified Persons

The independent qualified persons responsible for preparing the Juan Tafoya-Marquez Preliminary Economic Assessment are Douglas L. Beahm, P.E., P.G., of BRS Inc. and Terence P. McNulty, of McNulty and Associates.

Douglas H. Underhill, PhD, CPG, enCore’s Chief Geologist, is the Company’s designated Qualified Person (QP) for this news release within the meaning of NI 43-101 and has reviewed and validated that the information contained in the release is consistent with that provided by the QP’s responsible for the PEA.

About enCore Energy Corp.
enCore Energy Corp. is a U.S. domestic uranium developer focused on becoming a leading in-situ recovery (ISR) uranium producer. The Company is led by a team of industry experts with extensive knowledge and experience in the development and operations of in situ recovery uranium operations. enCore Energy’s opportunities are created from the Company’s transformational acquisition of its two South Texas production facilities, the changing global uranium supply/demand outlook and opportunities for industry consolidation.  These short-term opportunities are augmented by our strong long term commitment to working with local indigenous communities in New Mexico where the company holds significant uranium resources including the NI 43-101 resources at the partially permitted Crownpoint-Hosta Butte property and the NI-43-101 resources at the Juan Tafoya-Marquez property.

www.encoreenergycorp.com

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

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.

SOURCE enCore Energy Corp.

Index Funds Still May Fall Apart over Time

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Image Credit: dfirecop (Flickr)


In Nine Years, Nearly All Boomers Will Have Retired, Is This Good for Stock Pickers?

 

Individual investors have it better than ever. Better in terms of available investment types. Better in terms of charting software. Better in terms of trading on the go. Better access to information. And, far lower costs.   But, with all of this, some people are still investing like it’s 1971.

 

Are Index Funds More Prudent Individual Stocks?

In 1971, William Fouse and John McQuown of Wells Fargo started the first indexed fund. John Bogle used this as a foundation to build The Vanguard Group, the mutual fund provider. Mutual funds based on an index made a good deal of sense. The original idea behind indexing is that the larger group of active traders and professional investors would dictate how the market behaves, and that a small number of passive investors (index funds) would simply go along for the ride. Back then, it was a more diversified ride with professionals generating direction.

The idea was a good one; investors could avoid paying a $200 or more commission to a broker to buy a stock and could get market exposure along with diversification in ways a $200 commission had been preventing.

The mutual fund industry expanded, and from it grew many active funds. In the late 70’s the Revenue act of 1978 included a section 401(k), this allowed for deferred compensation. From it grew the entire institution of 401(k)s and brought the concept of mutual funds into many more homes than would have ever considered them.

While all types of funds quickly were developed, index funds were and remain the popular option for mutual fund investors, whether pre-tax retirement or part of an after-tax savings portfolio. 

In 1990 Exchange Traded Funds or ETFs were brought to market as a way to provide individuals access to passive, indexed funds at a much lower cost than mutual funds. The assets of these funds swelled. As they swelled, the underlying stocks did better; as they did better, more investors, particularly those that are in or near retirement, got on board.

 

Does this Create a Problem?

Not all concerns become problems, but this concern is easy to understand. At present, the largest pool of investments sits with baby boomers who have a large portion of their money in the indexed funds that have served them well. They are in or approaching retirement which is when they move from accumulation of assets to distribution for living costs. They do this by selling off their portfolios slowly, portfolios including the indexed funds. As these funds are sold off, the stocks being held are in less demand.

 

“The simple theses and the models that get people into sectors, factors, indexes, or ETFs and mutual funds mimicking those strategies – these do not require the security-level analysis that is required for true price discovery,” Michael Burry, Bloomberg Interview, September
2019

 

The second largest group of investors in terms of bodies, not wealth, are their children and grandchildren. This group began to become aware of the stock market during the boom years from 2008. They invest in index funds, but they are also more likely to also make self-directed investments than their parents or grandparents. Since 2008 the market has rewarded their participation. They aren’t expected to be investing like the generations before them. The new online tools and apps and zero commission structure, plus a wealth of information from online sources including Channelchek and others give them more confidence to make their own decisions.

 

 

The original idea behind indexing is that professional traders and actively managed funds will dictate how the market behaves, and take a small number of passive investors (e.g. index funds) along for the ride. But, here is where concern for what may happen on that ride comes into play. If you’re visual, think of it like this: Actively managed funds are a 60’ yacht. You’re an individual investor on a raft and decide to attach a line to the 60-footer to have it take you where it’s going. A free ride from someone who must know more based on the comparative power of your boats. The yacht is completely unchanged, course and speed are not impacted. This huge and small relationship was the original assumption behind passive investing. Market behavior is dictated by the active majority, and the passive minority gets a free ride.

What has happened since is more and more people have hooked their rafts to the back of the yacht to catch a ride, at some point there will be an impact to the maneuverability and economies of the yacht. As the passive riders outnumber the active managers, the free ride may fall apart.

We are now at the point where valuations in stocks are higher because they are in an index, and all the money in index funds has to compete for the same securities. We also see where stocks that are not in major indexes are not as highly valued because they get less attention. This two-class system isn’t healthy either.

 

Take-Away

The past 30-40 years have seen index funds grow to a height that has distorted valuations. One would think nothing can continue on indefinitely. The retirement or even death of baby boomers will put money that has been tied up in index funds in the hands of shopkeepers, grasscutters, and others they pay out of retirement funds. Upon death, some of this money will wind up in the hands of the next of kin and, in many cases, an entirely different account with different investment criteria. I picture an ACAT from the Vanguard 500 Index fund (VFIAX) into a more self-directed environment of a Robinhood account where the liquidated fund is reworked into Dogecoin (DOGE) and Gamestop (GME).

No one has an accurate crystal ball. This unintended consequence to index funds is worth paying attention to because it is a concern of professionals who have been very good at spotting trends – well in advance. If it does unfold, the younger generations may cause the unwinding of index funds as the go-to and replace it with directing their own stock picks.

 

Paul Hoffman

Channelchek, Managing Editor

 

Suggested Reading:

Should Investors Listen to Influencers?

Norton Crypto Debuts for Home Mining



Trading Accounts for Children

Do Microcap Stocks Provide Better Diversification?

 

Sources:

https://www.investopedia.com/articles/exchangetradedfunds/12/brief-history-exchange-traded-funds.asp

https://www.investopedia.com/articles/exchangetradedfunds/12/brief-history-exchange-traded-funds.asp#:~:text=The%20ETF%20Is%20Born,-According%20to%20Gary&text=The%20next%20attempt%20at%20the,Participation%20Units%20(TIPs%2035).

https://www.northwesternmutual.com/life-and-money/your-401k-when-it-was-invented-and-why/#:~:text=Despite%20their%20popularity%20today%2C%20401,being%20taxed%20on%20deferred%20compensation.

https://money.usnews.com/investing/funds/articles/do-index-funds-etfs-quietly-pose-a-systemic-risk-michael-burry-thinks-so

 

 

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Release – enCore Energy Announces Positive Preliminary Economic Assessment (PEA) Results

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enCore Energy Announces Positive Preliminary Economic Assessment (PEA) Results and combined, N.I. 43-101 Technical Report for its Juan Tafoya-Marquez Project, New Mexico

 

CORPUS CHRISTI, Texas, June 24, 2021 /PRNewswire/ – enCore Energy Corp. (TSXV: EU) (OTCQB: ENCUF) (the “Company” or “enCore“) is pleased to announce the results of a Preliminary Economic Assessment (“PEA”) for the company’s recently consolidated Juan Tafoya and Marquez projects located in the Grant’s Uranium District in northwest New Mexico.  This is the first PEA for the projects as this is the only time in recent history that the two contiguous mineralized properties have been held under the same company.  The PEA was constructed based on a combined and updated NI 43-101 Technical Report using an Indicated resource of 7.1 million tons at a grade of 0.127% eU3O8 for a total of 18.1 million pounds of U3O8.

The PEA reports the Net Present Value (“NPV”) for the project that ranges from $20.9 million using $60.00 per pound of yellowcake (U3O8) to $71.2 million using  $70.00 per pound of yellowcake with internal rate of returns (“IRR”) ranging from 17% to 39% with corresponding yellowcake prices; these scenarios are pre-tax and assume a 7% discount rate. The break-even price of production is estimated to be $56.00 per pound. 

 “This initial PEA enables enCore to illustrate the economic opportunities of the combined Juan Tafoya and Marquez deposits which have been consolidated with the Westwater Resources transaction completed at year end 2020.  This report assumed conventional underground operation and recovery through a newly constructed conventional mill, though the authors did acknowledge that further research may prove the property amenable to either in-situ recovery (“ISR”) or heap leach processing; either of which would have a positive material impact on the economic conclusions of the current PEA.” said Paul Goranson, Chief Executive Officer. “This study points to the economic importance of our conventional assets in New Mexico, with further work it may well be determined that some, or conceivably most, of the uranium at Juan Tafoya-Marquez might be amenable to lower cost recovery options including ISR or heap leaching.”

The PEA evaluated the economics of mining at Juan Tafoya-Marquez through underground mining and on-site processing (milling) to produce yellowcake. The study has an effective date of June 9, 2021, and was prepared by Douglas L. Beahm, P.E, P.G., of BRS Inc. in cooperation with Terence P. McNulty, P.E., PhD, of McNulty and Associates.

PEA Summary Mine Plan and Operating Assumptions

Total Tons mined

6,033,000

Total Tons Waste mined

1,392,000

Total Tons of Resource mined

4,641,000

Total Pounds Yellowcake ( U3O8  ) Contained

12,184,000

Average Diluted Grade %  U3O8

0.188%

Total Pounds  U3O8 Recovered @ 95% recovery

11,575,000

Life of Mine

15 years

PEA Summary Capital and Operating Costs

Initial Capital Costs (including contingency)

Mine Direct Capital

$42,110,000

Mill and Tailings Capital

$37,200,000

Total LOM Capital Costs

$79,310,000

Life of Mine Cost Summary

Cost Center

Total Cost US$ (x1,000)*

Cost per Pound Recovered US$

OPEX Mine

$308,000

$26.62

OPEX Mill

$184,000

$15.90

Decommissioning and Reclamation

$13,000

$1.11

Taxes and Royalties

$53,000

$4.55

TOTAL OPEX (LOM)

$558,000

$48.10*

*rounded

PEA Summary Economics at $60.00/lb. Yellowcake (U3O8)

Pre-tax and Royalty NPV at 7%

$20,595,000

Pre-tax and Royalty IRR

17%

Post Tax and Royalty NPV at 5%

$18,473,000

Post Tax and Royalty IRR

16%

Post Tax payback

5.0 years

Total LOM Revenue

$694,474,000

Total LOM Direct Costs

$523,699,000

Total LOM Royalties

$33,566,000

Total LOM Taxes

$3,225,000

Total cash Flow after taxes and royalties

$54,674,000

Cash Cost ($/lb.  U3O8)

$42.53

The base case summarized above assumes the owner will purchase all mining equipment.  The base case assumes mining and milling at an average rate of 1000 tons per day year-round

Sensitivities

U3O8 Price US$/lb

$60

$65

$70

Pre-Tax NPV 5% $000

$20,914

$50,970

$71,199

Pre-Tax IRR

17%

30%

39%

Mineral Resources

The mineral resources used in this PEA include Indicated mineral resources estimated by Douglas Beahm.  The resources are found in two different stacked sands currently identified on the Juan Tafoya-Marquez property. Mineralization occurs in a third upper sand but is insufficiently defined to be included in this report.  The in-situ estimates used electronic logs from 926 drill holes and over 575,809 meters of drilling. 

Indicated Mineral Resources

Indicated Mineral Resources


Minimum 0.60 GT

TONS

%eU3O8

Pounds

C Sand

1,426,355

0.156

4,455,706

D Sand

5,685,244

0.120

13,678,258

TOTAL

7,111,599

0.127

18,133,964

ROUNDED TOTAL (x 1,000)

7,100

0.127

18,100

Disclosure

The PEA is only summarized in this press release as an initial high-level review of the project the complete detailed report will be filed on SEDAR within 30 days of this press release.  The PEA is preliminary in nature.  There is no guarantee that the project economics described in this report will be achieved.

Qualified Persons

The independent qualified persons responsible for preparing the Juan Tafoya-Marquez Preliminary Economic Assessment are Douglas L. Beahm, P.E., P.G., of BRS Inc. and Terence P. McNulty, of McNulty and Associates.

Douglas H. Underhill, PhD, CPG, enCore’s Chief Geologist, is the Company’s designated Qualified Person (QP) for this news release within the meaning of NI 43-101 and has reviewed and validated that the information contained in the release is consistent with that provided by the QP’s responsible for the PEA.

About enCore Energy Corp.
enCore Energy Corp. is a U.S. domestic uranium developer focused on becoming a leading in-situ recovery (ISR) uranium producer. The Company is led by a team of industry experts with extensive knowledge and experience in the development and operations of in situ recovery uranium operations. enCore Energy’s opportunities are created from the Company’s transformational acquisition of its two South Texas production facilities, the changing global uranium supply/demand outlook and opportunities for industry consolidation.  These short-term opportunities are augmented by our strong long term commitment to working with local indigenous communities in New Mexico where the company holds significant uranium resources including the NI 43-101 resources at the partially permitted Crownpoint-Hosta Butte property and the NI-43-101 resources at the Juan Tafoya-Marquez property.

www.encoreenergycorp.com

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

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.

SOURCE enCore Energy Corp.

Release – Esports Entertainment Group Partners with Indian Gaming Esports Association and Spectrum Gaming Capital

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Esports Entertainment Group Partners with Indian Gaming Esports Association and Spectrum Gaming Capital to Bring Esports to Tribal Nations and Casinos

 

Newark, New Jersey–(Newsfile Corp. – June 24, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW), an esports entertainment and online gambling company, signed a partnership agreement with the Indian Gaming Esports Association (“iGEA”), the first-ever tribal esports organization to advance esports adoption among tribal nations and casinos; and with Spectrum Gaming Capital, international consultants and investment bankers.

Under the terms of the agreement, Esports Entertainment Group will be the exclusive provider of esports technology and services to iGEA as it seeks to integrate a full suite of B2C and B2B esports services to tribes and tribal casinos.

“Indian Gaming has historically been a key driver of industry evolution, and with our entrance into esports, we plan to keep our nations at the forefront of gaming’s newest trends,” said Oneida Nation’s Ernest Stevens III, CEO of iGEA. “Esports Entertainment Group has the vision, expertise, and, most importantly, the assets for a turnkey business operation and future-minded strategy that aligns with the best interests of tribes and tribal casinos; no need to re-invent the wheel. Additionally, Spectrum Gaming Capital has the relationships and strategic capabilities to help drive this new venture to real success.”

“This is a tremendous opportunity to pioneer a massive untapped market,” said Grant Johnson, CEO of Esports Entertainment Group. “We look forward to providing iGEA the tools and technology necessary to execute on their vision of building and leading the esports ecosystem for tribal nations.” Robert Heller, CEO of Spectrum Gaming Capital, added: “The entire Spectrum Gaming Group of Companies see the potential for iGEA to create a tribal-centric esports organization that will foster members’ opportunities to compete nationally and globally, and tie into tribal casino operations in those states where betting on esports is permitted by law.

About iGEA

IGEA is being formed as a non-profit corporation with the intent to organize and promote tribal participation and competition in esports. Analogous to the International Olympics Committee, iGEA will support formation and training of tribal teams and leagues to compete regionally and nationally as well as internationally. IGEA will foster game integrity, in part, to enable regulated betting, where allowed, that will increase fan engagement and sponsorships to provide funding to foster player growth and tribal identity.

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.

About Spectrum Gaming Capital

Spectrum Gaming Capital offers M&A and investment-banking advisory services to the global gaming and gambling industries, working with developers of casinos to help them organize, arrange strategic partnerships and raise capital; providing mid-market M&A and financing services, as well as a variety of advisory services including valuation, expert witness, due diligence, and negotiation support. We are part of the Spectrum Gaming Group of Companies which includes specialty practices in esports, sports wagering, igaming, lotteries, anti-money laundering, economic analysis and government policy, and is a global leader in providing governments with services related to licensing investigations (“NFC Global”), and data (“Spectrumetrix”), as well as geographic specialty groups focused on Asia and Latin America.

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
[email protected]

Media & Investor Relations Inquiries – [email protected]
[email protected]

Release – Longeveron Announces Abstract Highlighting Data from Phase 1 Alzheimers Disease Trial

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Longeveron Announces Abstract Highlighting Data from Phase 1 Alzheimer’s Disease Trial Accepted for Developing Topics Presentation at the 2021 Annual Alzheimer’s Association International Conference

 

Abstract presentation highlights safety and potential efficacy of Lomecel-B infusion in patients with mild Alzheimer’s Disease

MIAMI, June 24, 2021 (GLOBE NEWSWIRE) — Longeveron Inc. (NASDAQ: LGVN), a clinical stage biotechnology company developing cellular therapies for aging-related and chronic disease, announced today that an abstract summarizing the results of its Phase 1 trial of Lomecel-B infusion for patients with mild Alzheimer’s disease has been accepted for a Developing Topics poster presentation at the 2021 Annual Alzheimer’s Association International Conference, being held July 26-30, 2021 in Denver, CO and online.

The abstract is titled “Safety and Efficacy of Lomecel-B in Patients with Mild Alzheimer’s Disease: Results of a Double-Blinded, Randomized, Placebo-Controlled, Phase 1 Clinical Trial.” This 33 subject study was supported by two competitive Part the Cloud Challenge on Neuroinflammation grants from the Alzheimer’s Association. The previously announced results can be found on the “News and Events” page in the Investors section of Longeveron’s website at investors.longeveron.com.

“We are extremely pleased that the Alzheimer’s Association has recognized our trial and data by giving us this opportunity to present the findings in poster presentation form at the prestigious AAIC,” said Dan Gincel, Ph.D., Senior Vice President of Strategic Collaborations & Scientific Affairs at Longeveron. “The trial met its primary endpoint of demonstrating safety and feasibility, and importantly, no Alzheimer’s Related Imaging Abnormalities (ARIA), after infusion with Lomecel-B. Furthermore, we were thrilled to observe that treatment with low-dose Lomecel-B slowed cognitive decline compared to the placebo group as measured by the Mini Mental State Exam (MMSE) score. As a result, we look forward to advancing Lomecel-B into a Phase 2 clinical trial in the second half of 2021.”

Information about the Annual Alzheimer’s Association International Conference can be found at www.alz.org/aaic/overview.asp.

About Longeveron Inc.

Longeveron is a clinical stage biotechnology company developing cellular therapies for specific aging-related and life-threatening conditions. The Company’s lead investigational product is the LOMECEL-B™ cell-based therapy product (“Lomecel-B”), which is derived from culture-expanded medicinal signaling cells (MSCs) that are sourced from bone marrow of young, healthy adult donors. Longeveron believes that by using the same cells that promote tissue repair, organ maintenance, and immune system function, it can develop safe and effective therapies for some of the most difficult disorders associated with the aging process and other medical disorders. Longeveron is currently sponsoring Phase 1 and 2 clinical trials in the following indications: Aging Frailty, Alzheimer’s disease, and hypoplastic left heart syndrome (HLHS). The Company’s mission is to advance Lomecel-B and other cell-based product candidates into pivotal Phase 3 trials, with the goal of achieving regulatory approvals, subsequent commercialization and broad use by the healthcare community. Additional information about the Company is available at www.longeveron.com.

Forward-Looking Statements

Certain statements in this press release that are not historical facts are forward-looking statements that reflect management’s current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as “believe,” “expects,” “may,” “looks to,” “will,” “should,” “plan,” “intend,” “on condition,” “target,” “see,” “potential,” “estimates,” “preliminary,” or “anticipates” or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are not limited to, statements about the ability of our clinical trials to demonstrate safety and efficacy of our product candidates, and other positive results; the timing and focus of our ongoing and future preclinical studies and clinical trials; the size of the market opportunity for our product candidates, the beneficial characteristics, safety, efficacy and therapeutic effects of our product candidates; our ability to obtain and maintain regulatory approval of our product candidates, our plans and ability to obtain or protect intellectual property rights, including extensions of existing patent terms where available and our ability to avoid infringing the intellectual property rights of others. Further information relating to factors that may impact the Company’s results and forward-looking statements are disclosed in the Company’s filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Contact:

Brendan Payne
Stern Investor Relations, Inc.
Office Direct: 212-698-8695 |Office Main: 212-362-1200
[email protected] | www.sternir.com

Source: Longeveron Inc

Release – Tony Wells Joins Gevo as General Manager for Net-Zero 1

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Tony Wells Joins Gevo as General Manager for Net-Zero 1

 

ENGLEWOOD, Colo., June 24, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ:GEVO), announced today that Tony Wells has joined Gevo as its General Manager/Site Leader for its future Net-Zero 1 facility expected to be located in Lake Preston, South Dakota. Mr. Wells brings 30+ years of operations management, engineering, and business development experience across industries including corn milling, food processing, ethanol and biodiesel production. He is expected to lead and assemble the organization that will operate the Net-Zero 1 facility.

“Tony is the real deal. He is a ‘been there, done it’ person and a skilled general manager. He knows how to build teams and operations. His experience in engineering and plant design should not be lost on anyone either. We are glad to have him with us. He’s good,” said Dr. Patrick R. Gruber, Gevo’s Chief Executive Officer.

“Becoming part of the team behind Net-Zero 1 is a monumental privilege,” said Mr. Wells. “Assembling the team that will be the driving force of this first of its kind, state-of-the-art facility is the highlight of my career,” continued Mr. Wells.

About Gevo

Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.

Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI.

Learn more at Gevo’s website: www.gevo.com

Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including the hiring of Tony Wells, Gevo’s technology, Gevo’s Net-Zero 1 project, Gevo’s products, Gevo’s ability to produce products with “net-zero” greenhouse gas emissions, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Investor and Media Contact

+1 720-647-9605

[email protected]

Release – Comstock Invests $15M in Initial Seed Round for Quantum Computing to Accelerate Material Science Discovery and Development

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Comstock Invests $15,000,000 in Initial Seed Round for Quantum Computing to Accelerate Material Science Discovery and Development

 

Virginia City, NV (June 24, 2021) – Comstock Mining Inc. (NYSE: LODE) (“Comstock” or the “Company”) today announced its execution of agreements to purchase an additional 5% of its 45%-owned technology development partner, Quantum Generative Materials LLC (“GenMat”), in exchange for $50 million.

The Company will provide an initial $15 million in cash and stock over the next six months, and an additional $35 million upon GenMat’s realization of key development milestones. The proceeds will be used to expand on the development efforts of GenMat’s founders, with the primary goal of commercializing new quantum computing technologies to accelerate material science discovery and development.

Quantum Computing

Classical computing relies on binary states in order to complete logical operations and that state is either on or off. True or false. One or zero. In contrast, quantum computing is based on physical systems that can be in multiple states simultaneously, with each state having a probability of occurring after measurement. To a quantum computer, that state can simultaneously be black, white, and every shade of grey in between. The distinction is powerful, and it gives quantum computers the potential to process exponentially more operations far more efficiently than classical computers. GenMat is developing a proprietary quantum operating system to exploit that potential and harness emerging quantum computing technologies to develop breakthrough new materials for use in high-impact applications, including batteries, mining and carbon capture and utilization.

“Quantum computing has the profound potential to resolve urgent challenges of our time, such as global resource scarcity and climate change,” said Corrado De Gasperis, Comstock’s Executive Chairman and Chief Executive Officer. “We have been working for some time on the frontier of new materials development with GenMat’s world-class team and network of quantum computing professionals and material scientists. We believe that their work will make many positive and disruptive contributions, especially in our existing and planned industries. We are honored to participate and provide funding and commercialization support to such an exceptional and growing team of transformational professionals.”

Strategic to Existing Lines of Business

While GenMat’s intended offerings will be industry agnostic when it emerges from stealth mode, Comstock is laser focused on applications that accelerate the development of new clean technologies to address resource scarcity by facilitating climate smart mining, electrification, and decarbonization. Consequently, in addition to its investment, Comstock also secured exclusive rights to use GenMat’s quantum technologies to complement and enhance its existing operations and planned technological and new business developments.

“Comstock’s lithium-ion battery operations provide an excellent example of the application potential of GenMat’s work,” continued De Gasperis. World-wide lithium-ion battery (“LIB”) production capacity has increased tenfold in the past decade. According to a recent report from the International Energy Agency (“IEA”), demand for lithium is expected to increase to about 155 kilotons per year by 2030, in part to fill global demand for electric vehicles (“EVs”). ARK Invest recently concluded that EV sales will increase from about 2 million EVs per year to about 40% of global auto sales within five to six years. Tesla (NASDAQ: TSLA) CEO Elon Musk provided a similar estimate, tweeting his view that the industry could produce 30 million EVs per year by 2027. Hitting that output will require about 1.8 million tons per year of lithium carbonate equivalent (“LCE”), or about five times more than the entire lithium mining industry produces today, and more than fifteen times the total LCE used in producing new EVs in 2020. The mining and battery manufacturing industries can scale up to meet that demand, however, there are only about 80 million tons of identified lithium resources worldwide, and EV batteries are typically rated for eight to ten years of use.

Mr. De Gasperis concluded, “Among other applications, we plan to use GenMat’s platform to enhance our extraction and refining of lithium and other scarce electrification metals, and then to design and produce dramatically improved battery components with those and other metals. Even then, we would be barely scratching the surface of the potential that quantum computing technologies offer. We’re looking forward to supporting GenMat’s development, and using our license rights to systemically maximize financial, natural and social impact for all of our stakeholders.”

About Comstock Mining Inc.

Comstock (NYSE: LODE) is an emerging leader in the sustainable extraction, valorization, and production of innovation-based, clean, renewable natural resources, with a focus on high-value, cash-generating, strategic materials that are essential to meeting the rapidly increasing global demand for clean energy, carbon-neutrality, and natural products. To learn more, please visit www.comstockmining.com.

Comstock is also set to join the Russell MicrocapÒ Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28, according to a preliminary list of additions posted June 4, 2021. Membership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements, but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: consummation of all pending transactions; project, asset or Company valuations; future industry market conditions; future explorations, acquisitions, investments and asset sales; future performance of and closings under various agreements; future changes in our exploration activities; future estimated mineral resources; future prices and sales of, and demand for, our products; future impacts of land entitlements and uses; future permitting activities and needs therefor; future production capacity and operations; future operating and overhead costs; future capital expenditures and their impact on us; future impacts of operational and management changes (including changes in the board of directors); future changes in business strategies, planning and tactics and impacts of recent or future changes; future employment and contributions of personnel, including consultants; future land sales, investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives; the nature and timing of and accounting for restructuring charges and derivative liabilities and the impact thereof; contingencies; future environmental compliance and changes in the regulatory environment; future offerings of equity or debt securities; asset sales and associated costs; future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, earnings and growth. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: counterparty risks; capital markets’ valuation and pricing risks; adverse effects of climate changes or natural disasters; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration or mining activities; contests over title to properties; potential dilution to our stockholders from our stock issuances and recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting businesses; permitting constraints or delays; decisions regarding business opportunities that may be presented to, or pursued by, us or others; the impact of, or the non-performance by parties under agreements relating to, acquisitions, joint ventures, strategic alliances, business combinations, asset sales, leases, options and investments to which we may be party; changes in the United States or other monetary or fiscal policies or regulations; interruptions in production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, cyanide, water, diesel fuel and electricity); changes in generally accepted accounting principles; adverse effects of terrorism and geopolitical events; potential inability to implement business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors or others; assertion of claims, lawsuits and proceedings; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the SEC; potential inability to list our securities on any securities exchange or market; inability to maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund or any other issuer.

Contact information:
Comstock Mining Inc.
P.O. Box 1118
Virginia City, NV 89440
ComstockMining.com		 Corrado De Gasperis
Executive Chairman & CEO
Tel (775) 847-4755
[email protected]		 Zach Spencer
Director of External Relations
Tel (775) 847-5272 Ext.151
mailto:[email protected]

Release – ACCO Brands Corporation Announces Participation in Noble Capital Markets Virtual Road Show Series

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ACCO Brands Corporation Announces Participation in Noble Capital Markets’ Virtual Road Show Series

 

LAKE ZURICH, Ill.–(BUSINESS WIRE)– ACCO Brands Corporation (NYSE: ACCO) today announced that its management will participate in Noble Capital Markets’ Virtual Road Show Series, presented by Channelchek. The virtual road show will feature a presentation from Boris Elisman, ACCO Brands Chairman and Chief Executive Officer, followed by a Q&A session proctored by Noble Senior Research Analyst Joe Gomes, featuring questions submitted by the audience.

The live broadcast of the virtual road show is scheduled for June 29, 2021, at 1 p.m. EDT. Registration is free and open to all investors. Register Here. The presentation also will be accessible through the Investor Relations section of www.accobrands.com or through Channelchek.com and will be archived on both websites following the event.

About ACCO Brands Corporation

ACCO Brands Corporation (NYSE: ACCO) is one of the world’s largest designers, marketers and manufacturers of branded academic, consumer and business products. Our widely recognized brands include Artline®, AT-A-GLANCE®, Barrilito®, Derwent®, Esselte®, Five Star®, Foroni®, GBC®, Hilroy®, Kensington®, Leitz®, Mead®, Quartet®, PowerA®, Rapid®, Rexel®, Swingline®, Tilibra®, Wilson Jones® and many others. Our products are sold in more than 100 countries around the world. More information about ACCO Brands, the Home of Great Brands Built by Great People, can be found at www.accobrands.com.

Christine Hanneman
Investor Relations
(847) 796-4320

Julie McEwan
Media Relations
(937) 974-8162

Source: ACCO Brands Corporation