Aurania Confirms Significant Amounts Of High-Tech Metals In Tiria-Shimpia Samples

Posted on May 25, 2021 by Admin

Aurania Confirms Significant Amounts Of High-Tech Metals In Tiria-Shimpia Samples

Toronto, Ontario, May 25, 2021 – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (Frankfurt: 20Q) (“Aurania” or the “Company”) reports that laboratory assays have confirmed the presence of the high-tech metals, gallium (“Ga”) and indium (“In”) in significant amounts in rock-chip samples from the Tiria-Shimpia target in the Company’s Lost Cities – Cutucu Project (“Project”) in southeastern Ecuador.

Gallium and indium are known to substitute for zinc in the structure of sphalerite (zinc sulphide mineral), and sulphidic zinc ores are a major source of these by-product metals. Because of the growing usage in certain high-tech applications such as smartphones and solar cells, they are rapidly becoming economically important, and supply security-related concerns are reflected in their identification as critical raw materials. Gallium is used in gallium arsenide (“GaAs”) semiconductor chips, and its unique properties enable electrons to pass through faster than in conventional silicon chips. It is used to support 5G technologies.

Next generation GaAs semiconductors promise to bring a huge market, not totally replacing the existing semiconductor market, but ultimately making a huge dent in it. The ability to replace silicon semiconductors, a market that is $500 billion dollars in 2020 makes one sit up and take notice. The existing silicon semiconductor market is a pretty good size for a market that barely existed in 1975. Next generation GaAs support the signal speed that is needed to implement 5G. (Business Wire, March 4, 2020).

It has been well-publicized that there is currently a worldwide shortage of GaAs semiconductor chips. Partly this is due to shutdown of bauxite mining operations in Shanxi province in China in 2019, due to environmental concerns, where gallium is produced as a by-product of alumina. Bauxite from outside of China typically does not contain recoverable levels of gallium: https://roskill.com/news/gallium-price-floor-set-to-rise-in-2021. Whatever the situation, it would appear that gallium supply is inelastic.

So far, sampling at Tiria-Shimpia has produced maximum values of 163 parts per million (“ppm”) for gallium and 39 ppm for indium. These high values are associated with high silver and zinc grades in rock-chip samples (Table 1). According to Kitco Metals (https://www.kitco.com/strategic-metals/), the gallium price has ranged between approximately US$200 to US$534 per kilogram (“kg”) over the past five years. The Indium price is reported by Kitco Metals to US$290 to US$490 per kg over the past five years.

It should be made clear that the Company has not performed any metallurgical testing to date to determine the extent to which these metals are recoverable in any quantity, if at all.

About the Area

Gallium and indium values are concentrated in the central part of the Tiria-Shimpia target in an area approximately 500 metres long, that remains open to the south. Elevated gallium and indium are found in crackle-brecciated limestone that contains veins of sphalerite and barite, associated with high values in silver and zinc reported in prior press releases dated May 21, 2021.

Table 1. Summary of rock-chip samples from the Shimpia central area.

Sample Number	Gallium	Indium	Silver	Zinc
Sample Number	(g/t)	(g/t)	(g/t)	(%)
Y993462	163	9.6	43.8	37.0
E797971	160	38.6	6.3	25.9
Y992200	154	14.9	56.8	49.1
Y993461	132	33.7	73.4	40.3
Y992199	109	0.9	31.1	40.2
Y993454	31	5.9	4.9	15.2

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

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

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

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

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

Qualified Person

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

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities – Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

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

For further information, please contact:

Carolyn Muir

VP Investor Relations

Aurania Resources Ltd.

(416) 367-3200

[email protected]

Dr. Richard Spencer

President

Aurania Resources Ltd.

(416) 367-3200

[email protected]

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

Forward-Looking Statements

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

Release – Stem Holdings dba Driven By Stem and Tinley Beverage Create Home Delivery Solution for Cannabis Beverages in California

Posted on May 25, 2021 by Admin

Stem Holdings d/b/a Driven By Stem and Tinley Beverage Create Home Delivery Solution for Cannabis Beverages in California

LOS ANGELES, CA, BOCA RATON, FL, and TORONTO, May 25, 2021 (GLOBE NEWSWIRE) — Stem Holdings (OTCQX:STMH, CSE:STEM) (“Stem”) and The Tinley Beverage Company Inc. (“Tinley’s” and, together with Stem, the “Companies”) are pleased to announce the integration of Stem’s technology into Tinley’s website, enabling a fast home delivery solution for cannabis-infused beverages throughout the State of California.

Led by Adam Berk, who was the founder and CEO of the first patented online food ordering company in the U.S., Osmio, which became GrubHub, Stem’s licensed, proprietary home delivery network Budee^TM reaches 92% of California’s population for delivery within two (2) hours or by a scheduled time. Stem achieves this through their extensive network of employed home delivery drivers and licensed regional non-storefront retail storage facilities. The platform also offers robust white label e-commerce technology that enables customer ordering via third-party brands’ web sites. This technology, now integrated into Tinley’s own web site, enables consumers to select Tinley’s beverages on www.drinktinley.com and execute an order for delivery by Budee^TM on their website in an apparent seamless customer experience.

Stem’s statewide home delivery platform will be populated with Tinley’s flagship products, and Tinley’s will offer the option of participation in the Stem platform to the growing number of approved third-party brands that have their beverages manufactured at Tinley’s bottling facility in Long Beach, California. Stem’s white label e-commerce platform and home delivery network will constitute an additional value-added service available to approved third-party beverages manufactured at Tinley’s facility, allowing them to expand their home delivery footprint as an additional way of accessing consumers statewide.

Retail and home delivery options for cannabis-infused beverages are often constrained in California by space and other logistical limitations for beverage products at the retail and last-mile delivery levels. Stem’s platform enables seamless delivery from wholesale distribution to consumers’ homes for Tinley’s and other approved third-party manufacturing brands.

The Companies plan to collaborate further to create a variety of beverage-specific online portals that enable outreach and engagement with canna-curious consumers, who can be averse to smoking, and may not frequent dispensaries. With less than 15% of California’s adult population having consumed cannabis in the past year⁽¹⁾, the drink category offers the most natural avenue for this largely untapped consumer base, including beverage alcohol consumers, to transition into cannabis. These portals can employ targeted channel marketing and messaging, comparable to wine and spirit club sites, which the Companies believe are necessary for recruiting these new consumers.

“Home delivery is booming and is an increasingly important part of our growth strategy as well as those of our third-party manufacturing clients,” said Sven Stalley, General Manager of Tinley’s California. “Cannabis beverage consumers are often new or casual cannabis users that may not frequently visit dispensaries. They purchase for home delivery across more consumer categories than ever before, so this collaboration can help bridge the gap for new and mainstream alcohol consumers to build cannabis-beverage consumption into their personal and social use occasions.”

“Tinley’s growing lineup of Tinley’s and third-party beverages expands Stem’s access to a growing portfolio of high-quality drinks, as well as opportunities for working with these brands on collaborative, drink-specific marketing,” said Adam Berk, CEO of Stem Holdings. “Access to unique products and category-specific marketing was a key component of Osmio’s growth, and the opportunity to innovate and collaborate with Tinley’s enables us to employ similar tactics within the cannabis industry.”

About Stem Holdings

Stem Holdings is a leading omnichannel, vertically-integrated cannabis branded products and technology company with state-of-the-art cultivation, processing, extraction, retail, distribution, and delivery-as-a-service (DaaS) operations throughout the United States. Stem’s family of award-winning brands includes TJ’s Gardens^TM, TravisxJames^TM, and Yerba Buena^TM flower and extracts; Cannavore^TM edible confections; Doseology^TM, a CBD mass-market brand launching in 2021; as well as DaaS brands Budee^TM and Ganjarunner^TM through the acquisition of Driven Deliveries. Budee^TM and Ganjarunner^TM e-commerce platforms provide direct-to consumer proprietary logistics and an omnichannel UX (user experience)/CX (customer experience).

About The Tinley Beverage Company and Beckett’s Tonics

The Tinley Beverage Company manufactures the Becketts Classics^TM and Beckett’s 27^TM line of non-alcoholic, terpene-infused spirits and cocktails. Beckett’s products are available in mainstream food, beverage and specialty retailers, as well as online across the United States. Cannabis-infused versions of these products are also offered in licensed dispensaries throughout California. Expansion to Canada is underway for both product lines. Tinley’s facility in Long Beach California contains the state’s most versatile and technologically-advanced cannabis-licensed beverage manufacturing equipment. Please visit www.drinkbecketts.com, www.drinktinley.com, Instagram @drinktinleys and @drinkbecketts for recipes, product information and home delivery options.

Forward-Looking Statements

This news release contains forward-looking statements and information (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities laws. Forward-looking statements are statements and information that are not historical facts but instead include financial projections and estimates, statements regarding plans, goals, objectives, intentions and expectations with respect to the future business, operations, expected expansion of distribution footprints and consumer access, the expected transition of consumers from alcohol to cannabis, the ability to achieve unique channel marketing and messaging, and phrases containing words such as “ongoing”, “estimates”, “expects”, or the negative thereof or any other variations thereon or comparable terminology referring to future events or results, or that events or conditions “will”, “may”, “could”, or “should” occur or be achieved, or comparable terminology referring to future events or results. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.

Products, formulations and timelines outlined herein are subject to change at any time.

Sources:

(1) Civilized. “10 States That Smoke the Most Weed” https://www.civilized.life/articles/10-states-that-smoke-the-most-weed/

For further information on The Tinley Beverage Company and Stem Holdings, please contact:

Stem Holdings
Investor Relations Contact:
KCSA Strategic Communications
Valter Pinto or Elizabeth Barker
+1 212.896.1254 or +1 212.896.1203
[email protected] or [email protected]

Media Contact:
Mauria Betts
Director of Branding and Public Relations
971.266.1908
[email protected]

The Tinley Beverage Company
Sven Stalley
(310) 507-9146
[email protected]
Twitter: @drinktinleys and @drinkbecketts
Instagram: @drinktinleys and @drinkbecketts
www.drinktinley.com

What is the Feds position on Crypto, Stablecoin, and CBDCs?

Posted on May 25, 2021 by Admin


image credit: U.S. Federal Reserve

The Federal Reserve’s Discussion Paper on Digital Currency to be Released this Summer

Last week, Fed Chair Jerome Powell spoke in a video address about CBDCs (Central Bank Digital Currencies) and other cryptocurrencies. He announced the Federal Reserve plans to publish a discussion paper on the potential benefits and risks of issuing a U.S. digital currency during this summer. He also shared more insight on current thinking.

“The paper represents the beginning of what will be a thoughtful and deliberative process,” said Chairman Powell in his address. He also spoke of regulation making it clear there were no decisions made to date when expressing the eye in which the Fed will look at the matter, “ the Federal Reserve is charged with promoting monetary and financial stability and the safety and efficiency of the payment system. In pursuit of these core functions, we have been carefully monitoring and adapting to the technological innovations now transforming the world of payments, finance, and banking.” Powell also made clear that one decision that has been made is that cash currency is not going away, “We think it is important that any potential CBDC could serve as a complement to, and not a replacement of, cash and current private-sector digital forms of the dollar, such as deposits at commercial banks,” said Powell.

A link for the video is provided below as a “Source,” but, as with most Fed releases, every word is deliberate and therefore worth reading. Here is the complete transcript.

Transcript of Chair Powell’s Message on Developments in the U.S. Payments System

May 20, 2021

Today we are in the midst of a technological revolution that is fundamentally changing our world: reshaping how we communicate, access information, and purchase goods and services. As the central bank of the United States, the Federal Reserve is charged with promoting monetary and financial stability and the safety and efficiency of the payment system. In pursuit of these core functions, we have been carefully monitoring and adapting to the technological innovations now transforming the world of payments, finance, and banking.

The effective functioning of our economy requires that people have faith and confidence not only in the dollar, but also in the payment networks, banks, and other payment service providers that allow money to flow on a daily basis. Our focus is on ensuring a safe and efficient payment system that provides broad benefits to American households and businesses while also embracing innovation. In the Fed’s early days, the development of dedicated telegraph wires facilitated the transfer of funds between banks. In the 1980s, automated clearinghouse services made it possible for electronic bill payments to be an alternative to paper checks. In 2019, the Federal Reserve committed to building the FedNow Service, which will enable banks to provide real-time, or instant, payments to their customers around the clock, 365 days a year, benefiting communities across America.

Recently, the rise of distributed ledger technology, which offers a new approach to recording ownership of assets, has allowed for the creation of a range of new financial products and services—including cryptocurrencies. To date, cryptocurrencies have not served as a convenient way to make payments, given, among other factors, their swings in value. Nonetheless, coins tied to the value of the dollar or another currency—known as “stablecoins”— have emerged as a new way to make payments. These stablecoins aim to use new technologies in a way that has the potential to enhance payments efficiency, speed up settlement flows, and reduce end-user costs—but they may also carry potential risks to those users and to the broader financial system. For example, although the value of a stablecoin may be tied to the value of a dollar, these coins may not come with the same protections as traditional means of payment, such as physical currency or the deposits in your bank account. Therefore, as stablecoins’ use increases, so must our attention to the appropriate regulatory and oversight framework. This includes paying attention to private-sector payments innovators who are currently not within the traditional regulatory arrangements applied to banks, investment firms, and other financial intermediaries.

Technological advances also offer new possibilities to central banks—including the Fed. In particular, technology now enables the development and issuance of central bank digital currencies, or CBDCs. A CBDC is a new type of central bank liability issued in digital form. While various structures and technologies might be used, a CBDC could be designed for use by the general public.

For the past several years, the Federal Reserve has been exploring the potential benefits and risks of CBDCs from a variety of angles, including through technological research and experimentation. Our key focus is on whether and how a CBDC could improve on an already safe, effective, dynamic, and efficient U.S. domestic payments system. We think it is important that any potential CBDC could serve as a complement to, and not a replacement of, cash and current private-sector digital forms of the dollar, such as deposits at commercial banks. The design of a CBDC would raise important monetary policy, financial stability, consumer protection, legal, and privacy considerations and will require careful thought and analysis— including input from the public and elected officials.

To help stimulate broad conversation, the Federal Reserve Board will issue a discussion paper this summer outlining our current thinking on digital payments, with a particular focus on the benefits and risks associated with CBDC in the U.S. context. As part of this process, we will ask for public comment on issues related to payments, financial inclusion, data privacy, and information security.

We are committed at the Federal Reserve to hearing a wide range of voices on this important issue before making any decision on whether and how to move forward with a U.S. CBDC, taking account of the broader risks and opportunities it could offer. The paper represents the beginning of what will be a thoughtful and deliberative process. Irrespective of the conclusion we ultimately reach, we expect to play a leading role in developing international standards for CBDCs, engaging actively with central banks in other jurisdictions as well as regulators and supervisors here in the United States throughout that process.

The Federal Reserve remains committed to ensuring that the public has access to a safe, reliable, and secure payments system. Our forthcoming paper on the evolution of digital payments is intended—along with our other work as a supervisor, regulator, and payment system operator—to advance the objective of ensuring that the payments system and the economy work for all Americans. We look forward to hearing your thoughts on this important topic.

Take-Away

In his announcement, Chairman Powell showed he understood how technology in the past has led to better communication, faster payment systems, and more efficient bank clearing operations. He also was clear that, to date, the experience with cryptocurrencies is that they do not serve as a convenient way to make payments, “given, among other factors, their swings in value.” Adopting new technologies such as distributed ledger systems and a stable payment system is the balance the Fed will likely try to create going forward.

We will know more when the discussion paper is released later this year; in the interim, cryptocurrency exchange rates are likely to move up and down on, among other things, speculation of the tone of the upcoming paper.

Suggested Reading:


Small-Cap Names in a Big Crypto Market	Backed by the Full Faith and Credit of Blockchain


Cryptocurrency and the Howey Test	NFTs are Becoming More Popular with Sports Fans

Sources:

Chairman Powell’s Video Message May 20, 2020

Stay up to date. Follow us:

Esports Entertainment Group to Add Swedish and Spanish-Licensed Gaming Business with Acquisition of Bethard

Posted on May 25, 2021 by Admin

Esports Entertainment Group to Add Swedish and Spanish-Licensed Gaming Business with Acquisition of Bethard

Bethard, the B2C business of Gameday Group plc, generated $31M net gaming revenues in 2020
GMBL raises Fiscal 2022 revenue guidance to $100M-$105M as result of the transaction

Newark, New Jersey–(Newsfile Corp. – May 25, 2021) – Esports Entertainment Group, Inc. (NASDAQ: GMBL) (NASDAQ: GMBLW) (or the “Company”), an esports entertainment and online gambling company, today announced the signing of an agreement to acquire Gameday Group’s B2C business, operating under the ‘Bethard’ brand by Bethard Group Limited (“Bethard”), a fast-growing sports betting operator that generated $31 million in revenue in 2020. Under the terms of the agreement, EEG will pay EUR 16 mil ($19.5 mil) in cash and a 12% net gaming revenue share for two years. The acquisition is expected to close on July 1, 2021. As a result of transaction, Esports Entertainment Group is raising its fiscal 2022 revenue guidance to $100 million to $105 million.

“This is another great addition for Esports Entertainment Group that substantially increases our revenues, and available markets,” commented Grant Johnson, CEO of Esports Entertainment Group. “With this transaction, we expect to gain two new gaming licenses, including one in the strategically important Swedish market. At the completion of the license hand over we will have 6 tier one licenses.”

Bethard is an iGaming company that offers sports betting and casino games online. The company was founded in 2012 and consists of a team of passionate individuals who shares a vision of taking sports betting and casino to the next level. Bethard has a strong focus on responsible gambling with best-in-class compliance functions in order to act properly and in a sustainable way in regulated markets. The company is based in St. Julians, Malta.

According to ResearchAndMarkets.com, the global gaming market reached a value of $167.9 billion in 2020 and is forecasted to grow at a 9.2% CAGR through 2026, reaching $287.1 billion.

About Esports Entertainment Group

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

FORWARD-LOOKING STATEMENTS

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

Contact:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
[email protected]

Media & Investor Relations Inquiries
[email protected]

Release – Esports Entertainment Group to Add Swedish and Spanish-Licensed Gaming Business with Acquisition of Bethard

Posted on May 25, 2021 by Admin

Esports Entertainment Group to Add Swedish and Spanish-Licensed Gaming Business with Acquisition of Bethard

Bethard, the B2C business of Gameday Group plc, generated $31M net gaming revenues in 2020
GMBL raises Fiscal 2022 revenue guidance to $100M-$105M as result of the transaction

According to ResearchAndMarkets.com, the global gaming market reached a value of $167.9 billion in 2020 and is forecasted to grow at a 9.2% CAGR through 2026, reaching $287.1 billion.

About Esports Entertainment Group

FORWARD-LOOKING STATEMENTS

Contact:

U.S. Investor Relations
RedChip Companies, Inc.
Dave Gentry
407-491-4498
[email protected]

Media & Investor Relations Inquiries
[email protected]

What is the Feds position on Crypto Stablecoin and CBDCs?

Posted on May 25, 2021 by Admin


image credit: U.S. Federal Reserve

The Federal Reserve’s Discussion Paper on Digital Currency to be Released this Summer

A link for the video is provided below as a “Source,” but, as with most Fed releases, every word is deliberate and therefore worth reading. Here is the complete transcript.

Transcript of Chair Powell’s Message on Developments in the U.S. Payments System

May 20, 2021

Take-Away

Suggested Reading:


Small-Cap Names in a Big Crypto Market	Backed by the Full Faith and Credit of Blockchain


Cryptocurrency and the Howey Test	NFTs are Becoming More Popular with Sports Fans

Sources:

Chairman Powell’s Video Message May 20, 2020

Stay up to date. Follow us:

Release – Aurania Confirms Significant Amounts Of High-Tech Metals In Tiria-Shimpia Samples

Posted on May 25, 2021 by Admin

Aurania Confirms Significant Amounts Of High-Tech Metals In Tiria-Shimpia Samples

It should be made clear that the Company has not performed any metallurgical testing to date to determine the extent to which these metals are recoverable in any quantity, if at all.

About the Area

Table 1. Summary of rock-chip samples from the Shimpia central area.

Sample Number	Gallium	Indium	Silver	Zinc
Sample Number	(g/t)	(g/t)	(g/t)	(%)
Y993462	163	9.6	43.8	37.0
E797971	160	38.6	6.3	25.9
Y992200	154	14.9	56.8	49.1
Y993461	132	33.7	73.4	40.3
Y992199	109	0.9	31.1	40.2
Y993454	31	5.9	4.9	15.2

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

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

Qualified Person

About Aurania

For further information, please contact:

Carolyn Muir

VP Investor Relations

Aurania Resources Ltd.

(416) 367-3200

[email protected]

Dr. Richard Spencer

President

Aurania Resources Ltd.

(416) 367-3200

[email protected]

Forward-Looking Statements

Release – Seanergy Maritime Holdings Corp. Reports Financial Results for the First Quarter Ended March 31 2021

Posted on May 25, 2021 by Admin

Seanergy Maritime Holdings Corp. Reports Financial Results for the First Quarter Ended March 31, 2021

Highlights of the First Quarter of 2021:

Net revenues: $20.4 million in Q1 2021, as compared to $13.3 million in Q1 2020, up 53%
Net loss: $1.3 million in Q1 2021, as compared to net loss of $8.3 million in Q1 2020
EBITDA¹: $6.5 million in Q1 2021, as compared to $1.0 million in Q1 2020, up 567%
Adjusted EBITDA¹: $7.9 million in Q1 2021, as compared to $1.4 million in Q1 2020, up 483%
Cash position²: $58.1 million in Q1 2021, as compared to $23.7 million in Q4 2020, up 145%
Debt and other financial liabilities³: $131.5 million in Q1 2021, as compared to $169.8 million in Q4 2020
Shareholders’ equity: $188.1 million in Q1 2021, as compared to $ 95.7 million in Q4 2020, up 97%

First Quarter & Recent developments:

Acquisition of 5 modern Japanese Capesize vessels, for a total investment of $134.3 million and a fleet increase to 16 vessels and 2.8 million DWT (on a fully delivered basis)
New time charter agreements for four Capesize vessels with prominent charterers
Debt reduction of $38.8 million during the first quarter of 2021
New financing and refinancing transactions of $73.5 million in the second quarter of 2021

ATHENS, Greece, May 25, 2021 (GLOBE NEWSWIRE) — Seanergy Maritime Holdings Corp. (the “Company”) (NASDAQ: SHIP), announced today its financial results for the first quarter ended March 31, 2021.

For the quarter ended March 31, 2021, the Company generated net revenues of $20.4 million, a 53% increase compared to the first quarter of 2020. Adjusted EBITDA for the quarter was approximately $7.9 million, increased by 483% from $1.4 million in the same period of 2020. Net loss for the first quarter was $1.3 million compared to net loss of $8.3 million in the first quarter of 2020.

The daily Time Charter Equivalent (“TCE”)¹ of the fleet for the first quarter of 2021 was $16,219, marking a 91% increase when compared to the respective figure for the first quarter of 2020 of $8,481. The average daily OPEX of the fleet for the quarter was $5,605, in line with the $5,566 figure of the respective quarter of 2020.

Cash and cash-equivalents, restricted cash and term deposits as of March 31, 2021 stood at $58.1 million, compared to $23.7 million as of December 31, 2020. Shareholders’ equity at the end of the first quarter was $188.1 million, almost double shareholders’ equity of $95.7 million as of December 31, 2020, while long-term debt (senior and junior loans and financial leases) stood at $131.5 million as of March 31, 2021, reduced by 22.5% from $169.8 million as of the end of 2020.

___________________
¹ Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”), Adjusted EBITDA and Time Charter Equivalent rate (“TCE”) are non-GAAP measures. Please see the reconciliation below of EBITDA and Adjusted EBITDA to Net Income/(Loss) and TCE to Net revenues from vessels, in each case the most directly comparable U.S. GAAP measure.
² Includes cash and cash-equivalents, restricted cash and term deposits.
³ Net of deferred finance costs.

Second Quarter 2021 TCE Guidance:

As of the date hereof, approximately 95.7% of the Company’s fleet operating days in the second quarter of 2021 have been fixed at a TCE of approximately $22,400⁴, or 313% higher than the $5,424 TCE recorded in the second quarter of 2020. Our TCE guidance for the second quarter of 2021 includes certain conversions (5 vessels) of index-linked charters to fixed for the 3-month period ending on June 30, 2021 which were concluded in the fourth quarter of 2020 as part of our freight hedging strategy. The following table provides the break-down:

	Operating Days	TCE
TCE – fixed rate (FFA conversion)	455.0	$14,656
TCE – index linked / spot	598.4	$28,270
Total / Average	1,053.4	$22,390

Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:

“Since the beginning of 2021, the Capesize market has been increasing steadily to multi-year highs. During the first quarter of the year, we successfully concluded a number of transformative transactions that are further shaping Seanergy’s future as a prominent shipping enterprise.

Concerning our results for the first quarter of 2021, our daily TCE stood at about $16,219, marking an increase of 91% compared to the TCE of the first quarter of 2020. Net revenues were $20.4 million, increased by 53% from the first quarter of 2020, while adjusted EBITDA increased by about 483% attesting to our significant operating leverage. Net result for the quarter was a loss of $1.32 million, which includes significant non-cash amortization charges of financing expenses associated with our loans and convertible notes and other non-cash items of approximately $2.8 million.

Our strategic initiatives in 2021 have been aimed at (i) growing our fleet at an opportune time in a rising market environment, (ii) further strengthening our balance sheet, (iii) further reducing our cost base and specifically our interest expenses, and (iv) positioning commercially our existing and newly acquired vessels to benefit from the improving market conditions.

More specifically, we agreed to acquire five high quality Japanese Capesize vessels of an average age of approximately 10 years, with a total investment of $134.3 million and prompt deliveries. Our new acquisitions are funded with cash at hand and low-levered loan facilities. On a fully delivered basis, our fleet will increase by approximately 50% to 2.8 million DWT of cargo carrying capacity.

In addition, we have delevered our balance sheet considerably through the early retirement of higher-cost senior and junior facilities. In Q1 2021 we have reduced our debt levels by $38.8 million.

On the commercial front, we have entered into four new period chartering agreements with prominent Capesize charterers. Firstly, we expanded our business relationship with Cargill with a five-year period chartering agreement for the M/V Flagship, which also entails an important environmental angle since the charterer will fund the installation of certain energy-saving devices onboard the vessel. In addition, we initiated period agreements with prominent names like Anglo American and NYK Line, successfully expanding our client base.

As a result, the majority of our operating fleet will continue to be employed under index-linked time-charters. This will have a direct reflection on our revenue stream which is expected to strengthen considerably in the remainder of the year.

Regarding our market, in the first months of 2021 we are experiencing a steady and sustainable market increase, compared to the seasonality patterns of the previous years. In the second quarter of 2021 so far, Capesize rates have ranged between $20,000 and $45,000 per day, levels not seen for over a decade. The booming commodities cycle in combination with the most favorable vessel-supply fundamentals of the Capesize sector in some time, and the 17-year low vessel orderbook, point towards a strong Capesize market for the years to come.

Finally, I wish to note that we expect that our recent corporate developments in combination with the strong trend in our market, will reflect very positively on our earnings and free cash flow generation for the remainder of the year and consequently shareholders’ value. I strongly believe that Seanergy is in an optimal position to better capitalize on the strong market fundamentals. We remain committed to delivering additional value to our shareholders.”

___________________⁴ TCE estimates include certain floating (index) to fixed rate conversions concluded in previous periods. For vessels on index-linked T/Cs, the TCE assumed for the remaining operating days is equal to the FFA rate for the respective period. Spot estimates are provided using the load-to-discharge method of accounting. Load-to-discharge accounting recognizes revenues over fewer days as opposed to the discharge-to-discharge method of accounting used prior to 2018, resulting in higher rates for these days and only voyage expenses being recorded in the ballast days. Over the duration of the voyage (discharge-to-discharge) there is no difference in the total revenues and costs to be recognized. The rates quoted are for days currently contracted. Increased ballast days at the end of the quarter will reduce the additional revenues that can be booked based on the accounting cut-offs and therefore the resulting TCE will be reduced accordingly.

Company Fleet following vessels’ deliveries:

Vessel Name	Vessel Size Class	Capacity (DWT)	Year Built	Yard	Scrubber Fitted	Employment Type	Minimum T/C duration
Partnership	Capesize	179,213	2012	Hyundai	Yes	T/C Index Linked⁽¹⁾	3 years
Championship	Capesize	179,238	2011	Sungdong	Yes	T/C Index Linked ⁽²⁾	5 years
Lordship	Capesize	178,838	2010	Hyundai	Yes	T/C Index Linked ⁽³⁾	3 years
Premiership	Capesize	170,024	2010	Sungdong	Yes	T/C Index Linked ⁽⁴⁾	3 years
Squireship	Capesize	170,018	2010	Sungdong	Yes	T/C Index Linked⁽⁵⁾	3 years
Knightship	Capesize	178,978	2010	Hyundai	Yes	T/C Index Linked⁽⁶⁾	3 years
Gloriuship	Capesize	171,314	2004	Hyundai	No	T/C Index Linked⁽⁷⁾	10 months
Fellowship	Capesize	179,701	2010	Daewoo	No	T/C Index Linked ⁽⁸⁾	1 year
Geniuship	Capesize	170,058	2010	Sungdong	No	T/C Index Linked ⁽⁹⁾	11 months
Hellasship	Capesize	181,325	2012	Imabari	No	T/C Index Linked ⁽¹⁰⁾	1 year
Flagship	Capesize	176,387	2013	Mitsui Engineering	No	T/C Index Linked ⁽¹¹⁾	5 years
Leadership	Capesize	171,199	2001	Koyo – Imabari	No	Voyage/Spot
Goodship	Capesize	177,536	2005	Mitsui Engineering	No	Voyage/Spot
Tradership ⁽¹²⁾	Capesize	176,925	2006	Japanese Shipyard	No	N/A
Patriotship ⁽¹²⁾	Capesize	181,709	2010	Japanese Shipyard	Yes	T/C Fixed Rate⁽¹⁴⁾	1 year
Worldship ⁽¹³⁾	Capesize	181,415	2012	Japanese Shipyard	Yes	N/A
Total / Average age		2,823,878	11.8

(1)		Chartered by a major European utility and energy company and delivered to the charterer on September 11, 2019 for a period of minimum 33 to maximum 37 months with an optional period of about 11 to maximum 13 months. The daily charter hire is based on the BCI. In addition, the Company has the option to convert to a fixed rate for a period of between 3 and 12 months, based on the prevailing Capesize Forward Freight Agreement Rate (“FFA”) for the selected period.

(2)		Chartered by Cargill. The vessel was delivered to the charterer on November 7, 2018 for a period of employment of 60 months, with an additional period of about 24 to about 27 months at the charterer’s option. The daily charter hire is based on the BCI plus a net daily scrubber premium of $1,740. In addition, the time charter provides the option to convert the index linked rate to a fixed rate for a period of between 3 and 12 months based on the Capesize FFA for the selected period.

(3)		Chartered by a major European utility and energy company and delivered on August 4, 2019 for a period of minimum 33 to maximum 37 months with an optional period of 11-13 months. The daily charter hire is based on the BCI plus a net daily scrubber premium of $3,735 until May 2021. In addition, the Company has the option to convert to a fixed rate for a period of between three and 12 months, based on the prevailing Capesize FFA for the selected period.

(4)		Chartered by Glencore and was delivered to the charterer on November 29, 2019 for a period of minimum 36 to maximum 42 months with two optional periods of minimum 11 to maximum 13 months. The daily charter hire is based on the BCI plus a net daily scrubber premium of $2,055.

(5)		Chartered by Glencore and was delivered to the charterer on December 19, 2019 for a period of minimum 36 to maximum 42 months with two optional periods of minimum 11 to maximum 13 months. The daily charter hire is based on the BCI plus a net daily scrubber premium of $2,055.

(6)		Chartered by Glencore and was delivered to the charterer on May 15, 2020 for a period of about 36 to about 42 months with two optional periods of minimum 11 to maximum 13 months. The daily charter hire is based on the BCI.

(7)		Chartered by Pacbulk Shipping and delivered to the charterer on April 23, 2020 initially for a period of about 10 to about 14 months. Upon expiration of the current T/C period, in June 2021, the vessel will commence the second extension period up to minimum January 1, 2022 to maximum April 30, 2022. The daily charter hire is based on the BCI. In addition, the Company has the option to convert to a fixed rate, based on the prevailing Capesize FFA for the selected period.

(8)		Chartered by Anglo American, a leading global mining company, and expected to be delivered to the charterer towards the beginning of June 2021 for a period of minimum 12 to maximum 15 months from the delivery date. The daily charter hire is based on the BCI. In addition, the Company has the option to convert to a fixed rate for a period of minimum three and maximum 12 months, based on the prevailing Capesize FFA for the selected period.

(9)		Chartered by Pacbulk Shipping and was delivered to the charterer on March 22, 2021 for a period of about 11 to about 14 months from the delivery date. The daily charter hire is based on the BCI. In addition, the Company has the option to convert to a fixed rate based on the prevailing Capesize FFA for the selected period.

(10)		Chartered by NYK Line and was delivered to the charterer on May 10, 2021 for a period of minimum 11 to maximum 15 months. The daily charter hire is based at a premium over the BCI.

(11)		Chartered by Cargill. The vessel was delivered to the charterer on May 10, 2021 for a period of 60 months. The daily charter hire is based at a premium over the BCI minus $1,325 per day. In addition, the time charter provides the option to convert the index linked rate to a fixed rate for a period of minimum 3 to maximum 12 months based on the Capesize FFA for the selected period.

(12)		Deliveries expected by mid-June 2021.

(13)		Delivery expected within Q3 2021.

(14)		Chartered by European cargo operator at a rate of $31,000 / day for a period of minimum 12 to maximum 18 months.

Fleet Data:

	Q1 2021	Q1 2020
Ownership days (1)	990	910
Operating days (2)	932	901
Fleet utilization (3)	94.1%	99.0%
TCE rate (4)	$16,219	$8,481
Daily Vessel Operating Expenses (5)	$5,605	$5,566

(1)		Ownership days are the total number of calendar days in a period during which the vessels in a fleet have been owned or chartered in. Ownership days are an indicator of the size of the Company’s fleet over a period and affect both the amount of revenues and the amount of expenses that the Company recorded during a period.

(2)		Ownership days are the total number of calendar days in a period during which the vessels in a fleet have been owned or chartered in. Ownership days are an indicator of the size of the Company’s fleet over a period and affect both the amount of revenues and the amount of expenses that the Company recorded during a period.

(3)		Fleet utilization is the percentage of time that the vessels are generating revenue and is determined by dividing operating days by ownership days for the relevant period.

(4)		TCE rate is defined as the Company’s net revenue less voyage expenses during a period divided by the number of the Company’s operating days during the period. Voyage expenses include port charges, bunker (fuel oil and diesel oil) expenses, canal charges and other commissions. The Company includes the TCE rate, a non-GAAP measure, as it believes it provides additional meaningful information in conjunction with net revenues from vessels, the most directly comparable U.S. GAAP measure, and because it assists the Company’s management in making decisions regarding the deployment and use of the Company’s vessels and in evaluating their financial performance. The Company’s calculation of TCE rate may not be comparable to that reported by other companies. The following table reconciles the Company’s net revenues from vessels to the TCE rate.

(In thousands of U.S. Dollars, except operating days and TCE rate)

	Q1 2021	Q1 2020
Net revenues from vessels	20,398		13,339
Less: Voyage expenses	5,282		5,699
Net operating revenues	15,116		7,640
Operating days	932		901
TCE rate	$16,219	$8,481

(5)		Vessel operating expenses include crew costs, provisions, deck and engine stores, lubricants, insurance, maintenance and repairs. Daily Vessel Operating Expenses are calculated by dividing vessel operating expenses by ownership days for the relevant time periods. The Company’s calculation of daily vessel operating expenses may not be comparable to that reported by other companies. The following table reconciles the Company’s vessel operating expenses to daily vessel operating expenses.

(In thousands of U.S. Dollars, except ownership days and Daily Vessel Operating Expenses)

	Q1 2021	Q1 2020
Vessel operating expenses	5,549		5,065
Ownership days	990		910
Daily Vessel Operating Expenses	$5,605	$5,566

Net Loss to EBITDA and Adjusted EBITDA Reconciliation:

(In thousands of U.S. Dollars)

	Q1 2021		Q1 2020
Net loss	(1,321	)	(8,343	)
Add: Net interest and finance cost	4,030		5,688
Add: Depreciation and amortization	3,817		3,634
EBITDA	6,526		979
Add: stock based compensation	1,403		382
Adjusted EBITDA	7,929		1,361

Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”) represents the sum of net (loss), interest and finance costs, interest income, depreciation and amortization and, if any, income taxes during a period. EBITDA is not a recognized measurement under U.S. GAAP. Adjusted EBITDA represents EBITDA adjusted to exclude stock based compensation, which the Company believes is not indicative of the ongoing performance of its core operations.

EBITDA and adjusted EBIDTA are presented as we believe that these measures are useful to investors as a widely used means of evaluating operating profitability. EBITDA and adjusted EBITDA as presented here may not be comparable to similarly titled measures presented by other companies. These non-GAAP measures should not be considered in isolation from, as a substitute for, or superior to, financial measures prepared in accordance with U.S. GAAP.

Interest and Finance Costs to Cash Interest and Finance Costs Reconciliation:

(In thousands of U.S. Dollars)

	Q1 2021		Q1 2020
Interest and finance costs, net	(4,030	)	(5,688	)
Add: Amortization of deferred finance charges and other discounts	808		325
Add: Amortization of convertible note beneficial conversion feature	558		1,136
Cash interest and finance costs	(2,664	)	(4,227	)

First Quarter and Recent Developments:

$73.5 million Financial Transactions

Alpha Bank S.A.

On May 20, 2021, the Company entered into a $37.45 million credit facility to (i) refinance the existing facilities of $25.5 million secured by the M/V Leadership and the M/V Squireship and (ii) finance the previously unencumbered M/V Lordship. The earliest maturity date of the facility will be in December 2024 and the interest rate is 3.5% plus LIBOR per annum. The Company has achieved net capital release of $12 million through this refinancing transaction and the extension of the maturity of the existing loans secured by the M/Vs Squireship and Leadership by two years.

Aegean Baltic Bank S.A. (“AB Bank”)

On April 22, 2021, the Company entered into a credit facility for an amount of $15.5 million secured by the M/V Goodship and the M/V Tradership. The facility has a term of 4.5 years, with latest maturity date falling on December 30, 2025 and bears interest of LIBOR plus 4% per annum. The first tranche of $7.5 million was drawn down on April 26, 2021 and the second tranche of $8.0 million will be drawn down on the delivery of the M/V Tradership.

Cargill International S.A. (“Cargill”)

On May 11, 2021, the Company entered into a sale and leaseback transaction with Cargill to partially fund the acquisition cost of the M/V Flagship. The financing amount is $20.5 million at an implied interest rate of approximately 2% all-in, fixed for five years. The Company has the option to buy back the vessel at any time during the whole five-year leasing period, at the end of which it has a purchase obligation of $10.0 million subject to certain adjustments based on the market price of the vessel.

In addition, Cargill will fund the equipment and the installation of certain energy saving devices onboard the M/V Flagship, aimed to increase the vessel’s energy efficiency, reduce fuel consumption and subsequently reduce the vessel’s carbon footprint.

Other Financing Updates

Moreover, the Company is in advanced discussions for the financing of two of its recent acquisitions, the M/Vs Hellasship and Patriotship, through a $30.9 million leasing arrangement at competitive terms.

Fleet Growth and Commercial Update

M/V Hellasship Delivery and Time Charter Commencement

In May 2021, the Company took delivery of the 181,325 dwt Capesize bulk carrier, built in 2012 in Japan, which has been renamed M/V Hellasship. The delivery of the M/V Hellasship was the first of the five Capesize acquisitions agreed in 2021.

The M/V Hellasship has been fixed on a time charter with NYK Line, a leading Japanese shipping company and operator. The T/C commenced on May 10, 2021 and will have a term of minimum 11 to maximum 15 months. The gross daily rate of the T/C is based at a premium over the BCI.

M/V Flagship Delivery and Time Charter Commencement

In May 2021, the Company took delivery of the 176,387 dwt Capesize bulk carrier, built in 2013 in Japan, which has been renamed M/V Flagship. The M/V Flagship is the second vessel of the Company’s fleet time-chartered to Cargill.

The daily hire is based on the BCI, while the Company has the option to convert the index-linked hire to fixed for a minimum period of three months to a maximum of 12 months based on the prevailing Capesize FFA curve. The rate is 102% of the BCI minus $1,325 per day. The term of the T/C has a duration of 5 years from the delivery of the vessel to Cargill, which took place on May 10, 2021.

M/V Tradership and M/V Patriotship expected deliveries

In February and March 2021, the Company entered into agreements to purchase two Japanese Capesize bulk carriers, which upon their delivery will be renamed M/V Tradership and M/V Patriotship, respectively. Their deliveries are expected by mid-June 2021.

The M/V Patriotship has been fixed on a time charter with a major European cargo operator. The T/C will commence upon the vessel’s upcoming delivery and will have a term of minimum 12 to maximum 18 months. The gross daily rate is $31,000/day.

16^th Capesize acquisition and expected delivery

On May 17, 2021, the Company entered into an agreement to purchase an additional Japanese Capesize bulk carrier built in 2012. The expected delivery of the vessel is in the third quarter of 2021. Following her delivery, Seanergy’s fleet will increase to 16 Capesize vessels with an aggregate cargo capacity of 2,823,878 dwt and an average age of 11.8 years.

Update on Number of Shares Issued and Outstanding

As of May 25, 2021, the Company has 168,488,240 common shares issued and outstanding. This includes:

34,000 shares issued pursuant to exercises of Class E warrants in the period of March 31, 2021 to May 24, 2021 for aggregate proceeds of $0.02 million.
7,986,913 shares issued to Jelco Delta Holding Corp. (“Jelco”) upon exercise of outstanding warrants issued pursuant to the Securities Purchase Agreement entered into on December 30, 2020 (the “SPA”), for aggregate proceeds of approximately $5.6 million.
4,285,714 shares issued to Jelco following exercise of its option to convert $3.0 million of indebtedness to units, pursuant to the SPA. The issuance of shares to Jelco and associated reduction in debt balance took place in 2Q 2021.


Seanergy Maritime Holdings Corp. Unaudited Condensed Consolidated Balance Sheets (In thousands of U.S. Dollars)

	March 31, 2021	December 31, 2020*
ASSETS
Cash and cash equivalents, restricted cash and term deposits	58,050	23,651
Vessels and advances for vessels’ acquisitions, net	274,781	256,737
Other assets	17,291	14,857
TOTAL ASSETS	350,122	295,245

LIABILITIES AND STOCKHOLDERS’ EQUITY
Long-term debt and other financial liabilities, net of deferred finance costs	131,483	169,762
Convertible notes	15,276	14,516
Other liabilities	15,230	15,273
Stockholders’ equity	188,133	95,694
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	350,122	295,245

* Derived from the audited consolidated financial statements as of the period as of that date



Seanergy Maritime Holdings Corp. Unaudited Condensed Consolidated Statements of Operations (In thousands of U.S. Dollars, except for share and per share data, unless otherwise stated)

	Three months ended March 31,
	2021		2020
Revenues:
Vessel revenues	21,156		13,832
Commissions	(758	)	(493	)
Vessel revenue, net	20,398		13,339
Expenses:
Voyage expenses	(5,282	)	(5,699	)
Vessel operating expenses	(5,549	)	(5,065	)
Management fees	(281	)	(252	)
General and administrative expenses	(2,730	)	(1,359	)
Depreciation and amortization	(3,817	)	(3,634	)
Operating income / (loss)	2,739		(2,670	)
Other expenses:
Interest and finance costs	(4,030	)	(5,688	)
Other, net	(30	)	15
Total other expenses, net:	(4,060	)	(5,673	)
Net loss	(1,321	)	(8,343	)

Net loss per common share, basic	(0.01	)	(4.91	)
Weighted average number of common shares outstanding, basic	114,757,841		1,699,660

About Seanergy Maritime Holdings Corp.

Seanergy Maritime Holdings Corp. is the only pure-play Capesize ship-owner publicly listed in the US. Seanergy provides marine dry bulk transportation services through a modern fleet of Capesize vessels. On a ‘fully-delivered’ basis, the Company’s fleet will consist of 16 Capesize vessels with an average age of 11.8 years and aggregate cargo carrying capacity of 2,823,878 dwt.

The Company is incorporated in the Marshall Islands and has executive offices in Glyfada, Greece. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “SHIP”, its Class A warrants under “SHIPW” and its Class B warrants under “SHIPZ”.

Please visit our company website at: www.seanergymaritime.com.

Forward-Looking Statements

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events. Words such as “may”, “should”, “expects”, “intends”, “plans”, “believes”, “anticipates”, “hopes”, “estimates” and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the Company’s operating or financial results; the Company’s liquidity, including its ability to service its indebtedness; competitive factors in the market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; future, pending or recent acquisitions and dispositions, business strategy, areas of possible expansion or contraction, and expected capital spending or operating expenses; risks associated with operations outside the United States; risks associated with the length and severity of the ongoing novel coronavirus (COVID-19) outbreak, including its effects on demand for dry bulk products and the transportation thereof; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

For further information please contact:

Seanergy Investor Relations
Tel: +30 213 0181 522
E-mail: [email protected]

Capital Link, Inc.
Daniela Guerrero
230 Park Avenue Suite 1536
New York, NY 10169
Tel: (212) 661-7566
E-mail: [email protected]

Release – TherapeuticsMD Announces Submission of Low Dose BIJUVA Supplemental New Drug Application to FDA

Posted on May 25, 2021 by Admin

TherapeuticsMD Announces Submission of Low Dose BIJUVA® 0.5 mg/100 mg Supplemental New Drug Application to FDA

BOCA RATON, Fla.–(BUSINESS WIRE)–May 25, 2021–
TherapeuticsMD, Inc. (NASDAQ: TXMD), an innovative, leading women’s healthcare company, announced today that the Company submitted a supplemental New Drug Application (“sNDA”) for BIJUVA (estradiol and progesterone) capsules, 0.5 mg/100 mg, to the
U.S. Food and Drug Administration (“FDA”).

The Company expects to learn of the acceptance of the sNDA upon receipt of the Filing Review Notification from the FDA, approximately 74 days after submission. If accepted, the Company expects that the review time under the Prescription Drug User Fee Act (PDUFA) will be within ten months of receipt by the FDA, approximately
March 21, 2022.

“We are pleased to have identified a path forward for submission to the FDA of our sNDA for low-dose BIJUVA. We believe low-dose BIJUVA will be an important additional therapeutic option for women, if approved, and we look forward to bringing it to market,” said Robert G. Finizio, Chief Executive Officer of
TherapeuticsMD.

BIJUVA is the only FDA-approved bio-identical hormone therapy combination of estradiol and progesterone in a single, oral capsule. It is taken once-daily for the treatment of moderate to severe vasomotor symptoms (commonly known as hot flashes or flushes) due to menopause in women with a uterus.

About BIJUVA

BIJUVA is a novel combination of bio-identical estradiol and bio-identical progesterone in a once-daily oral softgel capsule. BIJUVA is approved in the
U.S. in a 1mg/100mg strength for the treatment of moderate to severe vasomotor symptoms due to menopause in women with a uterus.

INDICATION

BIJUVA (estradiol and progesterone) is a combination of an estrogen and progesterone indicated in a woman with a uterus for the treatment of moderate to severe vasomotor symptoms due to menopause.

IMPORTANT SAFETY INFORMATION

WARNING: CARDIOVASCULAR DISORDERS, BREAST CANCER, ENDOMETRIAL CANCER, and PROBABLE DEMENTIA

See full prescribing information for complete boxed warning.

Estrogen Plus Progestin Therapy

Estrogen plus progestin therapy should not be used for the prevention of cardiovascular disease or dementia
The Women’s Health Initiative (WHI) estrogen plus progestin substudy reported increased risks of stroke, deep vein thrombosis (DVT), pulmonary embolism (PE), and myocardial infarction (MI)
The WHI estrogen plus progestin substudy reported increased risks of invasive breast cancer
The WHI Memory Study (WHIMS) estrogen plus progestin ancillary study of WHI reported an increased risk of probable dementia in postmenopausal women 65 years of age and older

Estrogen-Alone Therapy

There is an increased risk of endometrial cancer in a woman with a uterus who uses unopposed estrogens
Estrogen-alone therapy should not be used for the prevention of cardiovascular disease or dementia
The WHI estrogen-alone substudy reported increased risks of stroke and DVT
The WHIMS estrogen-alone ancillary study of WHI reported an increased risk of probable dementia in postmenopausal women 65 years of age and older

CONTRAINDICATIONS

BIJUVA is contraindicated in women with any of the following conditions: undiagnosed abnormal genital bleeding; known, suspected, or history of cancer of the breast; known or suspected estrogen-dependent neoplasia; active DVT, PE, or history of these conditions; active arterial thromboembolic disease (for example, stroke, MI), or a history of these conditions; known anaphylactic reaction, angioedema, or hypersensitivity to BIJUVA or any of its ingredients; known liver impairment or disease; known protein C, protein S, or antithrombin deficiency, or other known thrombophilic disorders.

WARNINGS AND PRECAUTIONS

An increased risk of PE, DVT, stroke, and MI has been reported with estrogen plus progestin therapy. Should these occur or be suspected, therapy should be discontinued immediately. Risk factors for arterial vascular disease and/or venous thromboembolism (VTE) should be managed appropriately.
The WHI substudy of daily estrogen plus progestin after a mean follow-up of 5.6 years reported an increased risk of invasive breast cancer. Observational studies have also reported an increased risk of breast cancer for estrogen plus progestin therapy after several years of use. The risk increased with duration of use and appeared to return to baseline over about 5 years after stopping treatment (only the observational studies have substantial data on risk after stopping). The use of estrogen plus progestin therapy has been reported to result in an increase in abnormal mammograms requiring further evaluation.
Endometrial hyperplasia (a possible precursor to endometrial cancer) has been reported to occur at a rate of approximately less than one percent with BIJUVA. Clinical surveillance of all women using estrogen plus progestin therapy is important. Adequate diagnostic measures should be undertaken to rule out malignancy in postmenopausal women with undiagnosed persistent or recurring abnormal genital bleeding.
The WHI estrogen plus progestin substudy reported a statistically non-significant increased risk of ovarian cancer. A meta-analysis of 17 prospective and 35 retrospective epidemiology studies found that women who used hormonal therapy for menopausal symptoms had an increased risk for ovarian cancer. The exact duration of hormone therapy use associated with an increased risk of ovarian cancer, however, is unknown.
In the WHIMS ancillary studies of postmenopausal women 65 to 79 years of age, there was an increased risk of developing probable dementia in women receiving estrogen plus progestin when compared to placebo. It is unknown whether these findings apply to younger postmenopausal women.
Estrogens increase the risk of gallbladder disease.
Discontinue estrogen if severe hypercalcemia, loss of vision, severe hypertriglyceridemia, or cholestatic jaundice occurs.
Monitor thyroid function in women on thyroid replacement hormone therapy.

The most common adverse reactions (?3%) for BIJUVA are breast tenderness (10.4%), headache (3.4%), vaginal bleeding (3.4%), vaginal discharge (3.4%) and pelvic pain (3.1%).

Please note that this information is not comprehensive. Please see the Full Prescribing Information including BOXED WARNING at BIJUVA.com.

About TherapeuticsMD, Inc.

TherapeuticsMD, Inc. is an innovative, leading healthcare company, focused on developing and commercializing novel products exclusively for women. Our products are designed to address the unique changes and challenges women experience through the various stages of their lives with a therapeutic focus in family planning, reproductive health, and menopause management. The company is committed to advancing the health of women and championing awareness of their healthcare issues. To learn more about
TherapeuticsMD, please visit therapeuticsmd.com or follow us on Twitter: @TherapeuticsMD and on Facebook:
TherapeuticsMD.

Forward-Looking Statements

This press release by
TherapeuticsMD, Inc. may contain forward-looking statements. Forward-looking statements may include, but are not limited to, statements relating to TherapeuticsMD’s objectives, plans and strategies as well as statements, other than historical facts, that address activities, events or developments that the company intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as “believes,” “hopes,” “may,” “anticipates,” “should,” “intends,” “plans,” “will,” “expects,” “estimates,” “projects,” “positioned,” “strategy” and similar expressions and are based on assumptions and assessments made in light of management’s experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and the company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of the company’s control. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in the sections titled “Risk Factors” in the company’s filings with the
Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as reports on Form 8-K, and include the following: whether the FDA will accept and approve the NDA efficacy supplement for the lower dose of BIJUVA; the effects of the COVID-19 pandemic; the company’s ability to maintain or increase sales of its products; the company’s ability to develop and commercialize IMVEXXY®, ANNOVERA®, and BIJUVA® and obtain additional financing necessary therefor; whether the company will be able to comply with the covenants and conditions under its term loan facility; whether the company will be able to successfully divest its vitaCare business and how the proceeds that may be generated by any such divestiture will be utilized; the potential of adverse side effects or other safety risks that could adversely affect the commercialization of the company’s current or future approved products or preclude the approval of the company’s future drug candidates; the company’s ability to protect its intellectual property, including with respect to the Paragraph IV notice letters the company received regarding IMVEXXY and BIJUVA; the length, cost and uncertain results of future clinical trials; the company’s reliance on third parties to conduct its manufacturing, research and development and clinical trials; the ability of the company’s licensees to commercialize and distribute the company’s products; the ability of the company’s marketing contractors to market ANNOVERA; the availability of reimbursement from government authorities and health insurance companies for the company’s products; the impact of product liability lawsuits; the influence of extensive and costly government regulation; the volatility of the trading price of the company’s common stock and the concentration of power in its stock ownership.

Investor Contacts
Nichol Ochsner
Vice President, Investor Relations
561-961-1900, ext. 2088
[email protected]

In-Site Communications, Inc.
Lisa M. Wilson
212-452-2793
[email protected]

Media Contact
Kristen Landon
Vice President,
Marketing and Corporate Communications
561-961-1900
[email protected]

Source:
TherapeuticsMD, Inc.

Release – CanAlaska Promotes Cory Belyk to CEO and Executive Vice President

Posted on May 25, 2021 by Admin

CanAlaska Promotes Cory Belyk to CEO & Executive Vice President

Vancouver, Canada, May 25, 2021 – CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) (“CanAlaska” or the “Company”) is pleased to announce the promotion of Cory Belyk to Chief Executive Officer and Executive Vice President of the Company effective June 1, 2021. Peter Dasler will continue as President of CanAlaska, working closely with Cory Belyk to grow the Company. The rapid resurgence of interest in the uranium market has accelerated the Company’s activities including the addition of new exploration geologists. Cory Belyk now heads CanAlaska’s exploration and management teams, based from the Company’s office in Saskatoon, Saskatchewan.

Cory Belyk is a professional geologist with nearly 30 years of experience working for major and junior mining companies in the Athabasca Basin and worldwide. Prior to joining CanAlaska in 2019 as Chief Operating Officer, he was Director of Exploration for Cameco’s international operations including Mongolia and Australia. Mr. Belyk was also a member of Cameco’s exploration management team during the Fox Lake and West McArthur uranium discoveries in Saskatchewan. Mr. Belyk holds a Bachelor’s (1994) degree in Geology from the University of Saskatchewan and a Certificate in Negotiation from Harvard Law School (2014). He is a registered member of the Association of Professional Engineers and Geoscientists of Saskatchewan.

Cory Belyk, Chief Executive Officer, comments: “It is a privilege and honor to be asked to lead CanAlaska into the future. CanAlaska is a very well-structured Company with a portfolio of uranium and nickel projects that are truly world-class and ripe for additional major discoveries. This is at a time when the world is waking up to nuclear power generation as a carbon-free source of baseload energy. Through deliberate and diligent leadership and management, CanAlaska has preserved its vast portfolio of under-explored Athabasca Basin assets and made a significant new uranium discovery next door to the world’s richest uranium mine. In addition, new uranium and sulphide nickel projects have been added to build value for shareholders. CanAlaska’s project pipeline offers our shareholders multiple opportunities for discovery and I believe whole-heartedly further discovery is just around the corner. I commend Peter, the Board of Directors, and the CanAlaska team for their effort to build this Company to what it is today, ready for the energy needs of the present and future. I am humbled to be entrusted with the reins.”

CanAlaska President, Peter Dasler, comments; “Cory and I have worked shoulder to shoulder with our team for the past 3 years and it is a pleasure to see the significant increase in the Company’s value for our shareholders. I am very excited about CanAlaska’s opportunities for discovery at a time when we see recognition from the market of the value of uranium for carbon-free energy supply. Recent family events are now affecting the amount of time that I can spend on Company affairs and my best role will be in management support of Cory and our expanding exploration team at a time when we expect to see rapid further growth. Our new Saskatoon office is allowing us to grow to suit the market and position us for new discoveries. Cory and I look forward to new discoveries and continuing our Prospect Generator/Joint Venture strategy.”

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) holds interests in approximately 214,000 hectares (530,000 acres), in Canada’s Athabasca Basin – the “Saudi Arabia of Uranium.” CanAlaska’s strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company’s properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds.

For further information visit www.canalaska.com.

On behalf of the Board of Directors

“Peter Dasler”
Peter Dasler, M.Sc., P.Geo.
President & CEO
CanAlaska Uranium Ltd.

Contacts:

Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: [email protected]

Cory Belyk, CEO and Executive Vice President
Tel: +1.604.688.3211 x 138
Email: [email protected]

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

Forward-looking information

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

Release – Chakana Advances Resource Definition Drilling With Multiple High-Grade Intercepts

Posted on May 25, 2021 by Admin

Chakana Advances Resource Definition Drilling With Multiple High-Grade Intercepts

Soledad Project Highlights Include:

Huancarama East – four holes with high-grade intercepts, including 134.3m of 0.92 g/t Au, 0.86% Cu, and 80.7 g/t Ag (2.15% Cu-eq) from 119.7m depth;

Paloma East – five holes with strong grades, including 126.1m of 0.91 g/t Au, 0.20% Cu, and 11.6 g/t Ag (0.89% Cu-eq) starting at surface;

Paloma West – two holes with high grades, including 101.0m of 0.53 g/t Au, 1.01% Cu, and 41.5 g/t Ag (1.71% Cu-eq) starting at surface.

Vancouver, B.C., May 25, 2021 – Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”), is pleased to provide results from eleven in-fill holes totaling 2,873.7m from the Huancarama, Paloma East, and Paloma West tourmaline breccia pipe discoveries at its Soledad project, Ancash, Peru (Table 1). Drilling continues as part of a fully-funded 26,000m exploration and resource drilling program planned for 2021 (Fig. 1).

David Kelley, President and CEO commented, “The resource definition drilling portion of our current program is going exceptionally well with excellent results from the three discoveries at Soledad since the resumption of drilling in 2020. Huancarama and Paloma West continue to demonstrate their high-grade nature, and strong grades were also encountered at Paloma East. Mineralization in all three breccia pipes starts at surface and is open at depth. These results are another positive step toward our resource estimate due out later this year that will include multiple breccia pipes. To date, we have only tested 15 out of the 110 total targets on the property.”

Resource Definition Drilling

Table 1. Mineralized intervals from resource definition drilling at Huancarama, Paloma East, and Paloma West.

DDH #	FROM – TO (M)		CORE LENGTH (M)	AU G/T	AG G/T	CU %	CU-EQ %*	AU-EQ G/T*
Huancarama East
SDH21-189	119.70	254.00	134.30	0.92	80.7	0.86	2.15	3.29
and	271.00	310.00	39.00	0.61	52.4	0.88	1.73	2.64
SDH21-193	29.20	38.80	9.60	1.35	78.8			2.38
and	110.00	273.00	163.00	0.26	20.1	0.43	0.77	1.18
SDH21-194	21.90	25.70	3.80	0.17	77.3	0.23	1.00	1.53
and	120.00	244.00	124.00	0.33	29.5	0.63	1.10	1.68
and	301.00	308.10	7.10	1.81	36.7	0.81	2.31	3.53
SDH21-198	144.00	210.00	66.00	0.99	82.6	1.01	2.36	3.62
including	166.00	197.00	31.00	1.46	149.9	1.77	4.01	6.13
Paloma East
SDH21-190	0.00	126.10	126.10	0.91	11.6	0.20	0.89	1.37
including	21.00	38.00	17.00	5.09	15.7			5.30
SDH21-191	0.00	99.40	99.40	0.62	12.5	0.31	0.82	1.26
and	144.00	198.70	54.70	0.16	13.9	0.22	0.44	0.68
SDH21-192	64.90	124.00	59.10	0.27	7.5	0.42	0.66	1.01
and	198.00	224.00	26.00	0.21	33.3			0.65
SDH21-195	53.00	121.00	68.00	0.28	7.3	0.31	0.56	0.85
SDH21-196	67.00	121.00	54.00	0.20	9.0	0.74	0.95	1.45
Paloma West
SDH21-197	27.00	84.80	57.80	0.53	69.4	1.17	2.11	3.23
including	28.20	49.00	20.80	1.06	183.8	2.32	4.58	7.01
SDH21-199	0.00	101.00	101.00	0.53	41.5	1.01	1.71	2.62
including	31.25	50.00	18.75	1.07	141.8	3.29	5.20	7.96

* Cu_eq and Au_eq values were calculated using copper, gold, and silver. Metal prices utilized for the calculations are Cu – US$2.90/lb, Au – US$1,300/oz, and Ag – US$17/oz. No adjustments were made for recovery as the project is an early-stage exploration project and metallurgical data to allow for estimation of recoveries are not yet available. The formulas utilized to calculate equivalent values are Cu-eq (%) = Cu% + (Au g/t * 0.6556) + (Ag g/t * 0.00857) and Au-eq (g/t) = Au g/t + (Cu% * 1.5296) + (Ag g/t * 0.01307).

Huancarama East

Four holes were drilled through the Huancarama East breccia pipe from step-out platforms (Figs. 2 and 3). One hole was drilled to the northeast, and three holes were drilled from east to west. All four holes intersected mineralized breccia, consistent with previous exploration holes (see news releases dated January 12, January 25, February 9, March 3, and April 28, 2021) with depths ranging between approximately 80m to 300m below surface. The breccia pipe has approximate lateral dimensions of 100m by 60m and is open at depth. Additional infill holes have been drilled, with more planned once assay results have been received. Examples of mineralized drill core from these holes are shown in Figure 4.

Paloma East and Paloma West

The Paloma breccia pipes are located 300m north of Huancarama and are partially exposed at surface (Fig. 3). Five holes were drilled at Paloma East. Three holes were collared on the west side of the breccia pipe and drilled to the east, northeast, and southeast, and two holes were drilled from the north side of the exposed breccia pipe and oriented southwest and south. Mineralization was encountered in all five drill holes over a vertical range from surface to approximately 200m depth. Two resource definition holes were drilled at Paloma West from a platform on the northeast side of the exposed breccia pipe and drilled to the southwest. High-grade mineralization was intersected in both drill holes with depths ranging between approximately 20m to 80m below surface. Breccia in both pipes is open at depth and results presented here are consistent with previously reported results (see news releases dated September 17, October 26, November 18, December 3, and December 16, 2020; and April 28, 2021). Additional infill holes have been drilled at Paloma West with results pending. Examples of mineralized drill core from these holes are shown in Figure 4.

2021 Resource and Exploration Drill Program

Results reported here are part of the fully funded 2021 drill program of 26,000m. Combined with the drilling in the second half of 2020, approximately 32,000m is anticipated through 2021. Of this, 13,946.2m have been reported in 67 drill holes for the Paloma and Huancarama areas. Within the 26,000m of drilling planned in 2021, the Company will complete approximately 16,000m of resource definition in-fill drilling. The results of this drill program are important to increase confidence in the resource estimate, anticipated later in 2021.

Additionally, 10,000m of exploration drilling is planned for 2021. This will focus on new targets located in the northern portion of the project that have not been drilled previously but are strategic to any eventual development at Soledad. Exploration targets have been ranked based on their technical merit, access, and logistics.

About Chakana Copper

Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project consists of high-grade gold-copper-silver mineralization hosted in tourmaline breccia pipes. A total of 47,736 metres of exploration and resource definition drilling has been completed to date, testing 15 of 110 total exploration targets, confirming that Soledad is a large, well-endowed mineral system with strong exploration upside. Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to several metals including copper, gold, and silver. For more information on the Soledad project, please visit the website at www.chakanacopper.com.

Sampling and Analytical Procedures

Chakana follows rigorous sampling and analytical protocols that meet or exceed industry standards. Core samples are stored in a secured area until transport in batches to the ALS facility in Callao, Lima, Peru. Sample batches include certified reference materials, blank, and duplicate samples that are then processed under the control of ALS. All samples are analyzed using the ME-MS41 (ICP technique that provides a comprehensive multi-element overview of the rock geochemistry), while gold is analyzed by AA24 and GRA22 when values exceed 10 g/t by AA24. Over limit silver, copper, lead and zinc are analyzed using the OG-46 procedure. Soil samples are analyzed by 4-acid (ME-MS61) and for gold by Fire Assay on a 30g sample (Au-ICP21).

Results of previous drilling and additional information concerning the Project, including a technical report prepared in accordance with National Instrument 43-101, are made available on Chakana’s SEDAR profile at www.sedar.com.

Qualified Person
David Kelley, an officer and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.

ON BEHALF OF THE BOARD
(signed) “David Kelley”
David Kelley
President and CEO

For further information contact:
Joanne Jobin, Investor Relations Officer
Phone: 647 964 0292
Email: [email protected]

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

Forward-looking Statement Advisory: This release may contain 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 Chakana to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information relates to, among other things, the interpretation of the nature of the mineralization at the Soledad copper-gold-silver project (the “Project”), the potential to expand the mineralization, and to develop and grow a resource within the Project, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our belief in the potential for mineralization within unexplored parts of the Project. These forward-looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward- looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

Figure 1 – View looking north showing breccia pipes and occurrences within the northern Soledad cluster. Pipes that have been drilled in previous campaigns are shown in red. Outcropping breccia pipes shown in green are the focus of the current drill campaign. Other pipes and occurrences remain to be tested by drilling. Additional breccia pipes occur on the south half of the property and are not shown here.

Figure 2 – Map of Paloma and the Huancarama Breccia Complex showing drill holes reported in this release, outcropping tourmaline breccias (dark red shapes), and modeled breccia pipes (light red shapes) based on all drill holes (previous drilling shown by dark gray traces). Light gray contours are 10m interval. Untested outcropping targets are also shown. Location of section line (A-A’) for Figure 3 indicated.

Figure 3 – Isometric view looking west highlighting the drill holes at Huancarama and Paloma reported in this release. Light red 3D shapes show preliminary shape of breccias based on all drill holes (see Figure 2).

Figure 4 – Select core photos from Huancarama, Paloma East, and Paloma West reported in this release: SDH21-189 (126.2m) mosaic and jigsaw tourmaline breccia with sulfide cement; SDH21-194 (125.15m) mosaic breccia with selective clast replacement by chalcopyrite and pyrite; SDH21-194 306.75m tourmaline breccia with late chalcopyrite replacement along vein; SDH21-190 (76.72m) tourmaline breccia with chalcopyrite filling open space; SDG21-190 (110.80) shingle breccia with selective chalcopyrite replacement of shingle clasts; SDH21-197 (42.8m) mosaic tourmaline breccia with selective clast replacement and open space filling by chalcopyrite and pyrite. Core diameter is 6.35cm (HQ) in all instances.

Supermoon Red Blood Lunar Eclipse Its all Happening Tonight – Here is what it Means

Posted on May 25, 2021 by Admin


image credit: Tomruen/WikimediaCommons, CC BY-SA

Supermoon! Red Blood Lunar Eclipse! It’s all Happening Tonight – Here is what it Means

The first lunar eclipse of 2021 is going to happen during the early hours of May 26. But this is going to be an especially super lunar event, as it will be a supermoon, a lunar eclipse and a red blood moon all at once. So what does this all mean?

The Moon appears 12% bigger when it is closest to Earth compared with its appearance when it’s farthest away

What’s a super moon?

A supermoon occurs when a full or new moon coincides with the Moon’s closest approach to the Earth.

The Moon’s orbit is not a perfect circle as it slowly rotates around Earth. Rfassbind/WikimediaCommons

The Moon’s orbit around Earth is not perfectly circular. This means the Moon’s distance from Earth varies as it goes around the planet. The closest point in the orbit, called the perigee, is roughly 28,000 miles closer to Earth than the farthest point of the orbit. A full moon that happens near the perigee is called a supermoon.

So why is it super? The relatively close proximity of the Moon makes it seem a little bit bigger and brighter than usual, though the difference between a supermoon and a normal moon is usually hard to notice unless you’re looking at two pictures side by side.

The phases of the Moon correspond to how much of the lit–up side you can see from Earth. Orion 8/WikimediaCommons, CC BY-SA

How does a lunar eclipse work?

A lunar eclipse happens when the Earth’s shadow covers all or part of the Moon. This can only happen during a full moon, so first, it helps to understand what makes a full moon.

Like the Earth, half of the Moon is illuminated by the sun at any one time. A full moon happens when the Moon and the Sun are on opposite sides of the Earth. This allows you see the entire lit-up side, which looks like a round disc in the night sky.

If the Moon had a totally flat orbit, every full moon would be a lunar eclipse. But the Moon’s orbit is tilted by about 5 degrees relative to Earth’s orbit. So, most of the time a full moon ends up a little above or below the shadow cast by the Earth.

A lunar eclipse occurs when the Moon passes through Earth’s shadow. Sagredo/WikimediaCommons

But twice in each lunar orbit, the Moon is on the same horizontal plane as both the Earth and Sun. If this corresponds to a full moon, the Sun, the Earth and the Moon will form a straight line and the Moon will pass through the Earth’s shadow. This results in a total lunar eclipse.

To see a lunar eclipse, you need to be on the night side of the Earth while the Moon passes through the shadow. The best place to see the eclipse on May 26, 2021, will be the middle of the Pacific Ocean, Australia, the East Coast of Asia and the West Coast of the Americas. It will be visible on the eastern half of the U.S., but only the very earliest stages before the Moon sets.

The Earth’s atmosphere gives the Moon a blood-red glow during total lunar eclipses. Irvin Calicut/WikimediaCommons, CC BY-SA

Why does the moon look red?

When the Moon is completely covered by Earth’s shadow it will darken, but doesn’t go completely black. Instead, it takes on a red color, which is why total lunar eclipses are sometimes called red or blood moons.

Sunlight contains all colors of visible light. The particles of gas that make up Earth’s atmosphere are more likely to scatter blue wavelengths of light while redder wavelengths pass through. This is called Rayleigh scattering, and it’s why the sky is blue and sunrises and sunsets are often red.

In the case of a lunar eclipse, red light can pass through the Earth’s atmosphere and is refracted – or bent – toward the Moon, while blue light is filtered out. This leaves the moon with a pale reddish hue during an eclipse.

Hopefully you will be able to go see this super lunar eclipse. When you do, now you will know exactly what makes for such a special sight.

This article was republished with permission from The
Conversation, a news
site dedicated to sharing ideas from academic experts. Written by Shannon Schmoll Director, Abrams Planetarium, Department of Physics and Astronomy, Michigan State University

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Release – Namaste Technologies Announces Phyto Extractions Shatter Now Available Nationally For Medical Consumers

Posted on May 25, 2021 by Admin

Namaste Technologies Announces Phyto Extractions Shatter Now Available Nationally For Medical Consumers

TORONTO, May 25, 2021 (GLOBE NEWSWIRE) — Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) a marketplace platform for cannabis and wellness products, is excited to announce that the Company’s subsidiary, CannMart Inc., holder of exclusive distribution rights to all Phyto Extractions™ products, is now distributing Phyto Extractions’ well known shatter products nationally for its medical consumers at CannMart.com, and distribution to recreational consumers via anticipated future sales to provincial monopoly wholesalers. This new launch will provide patients through CannMart.com the opportunity to purchase Phyto Extractions’ latest shatter product line in three strain varieties: Pink Kush, Blue Gorilla OG and D. Bubba, offering Canadians the opportunity of a renewed experience in the limited shatter offerings currently available in Canada. CannMart medical patients are easily able to purchase Phyto Extractions products from the comfort of their home and have them delivered directly to their door once they have received their medical document.

“We are pleased to offer cannabis consumers high quality shatter products from Phyto,” said Meni Morim, CEO of Namaste. “Shatter is a specialized subcategory of concentrate products, which is currently underserved, and has higher margins. The Phyto brand carries significant legacy cache when it comes to this subcategory, all combined, making this product expansion a compelling growth opportunity. While these products are available now for medical customers, we expect them to be available on the recreational market shortly. We have already received confirmations and approvals for SKUs in hand and purchase orders in process of finalization with certain provinces – all wanting this new product line available for their consumers.”

Phyto Extractions’ shatter is a well-known cannabis extract in its purest form, with over 70% THC, negligible CBD content, and a distinguishing effect that is said to outperform other extracts. Extracted with butane to preserve cannabis terpenes, both shatter’s fast-acting onset and natural derived terpenes that maintain and enhance the natural flavour of the extracted plant are unique selling points that are highly regarded by medical and recreational consumers. These products are anticipated to be available shortly via CannMart’s wholesale distribution channel in Alberta, Saskatchewan, Manitoba, British Columbia and Ontario to recreational customers, looking for a desirable experience with cannabis concentrates.

Producing pure extracts such as shatter, must be conducted in a controlled laboratory environment with strict safety measures. Phyto Extractions has recently upgraded its facility with the new ExtractionTek Solutions MeP XT70 hydrocarbon extraction system to ensure all shatter products are pure, safe and consistent with unmatched quality to maximize the consumer experience. For more information on how shatter is made, watch Phyto Extractions facility tour and shatter production process: https://youtu.be/bMz4V_WVoLI

About Phyto Extractions™

Phyto Extractions™ is an agricultural-scale cannabis extraction, distillation and product manufacturer located in Langley, BC at its co-located Health Canada Licensed Standard Processing (extraction and products, no cultivation), Sales (extracts, topicals, and edibles), and R&D through Adastra Labs Inc. and Analytical Testing Laboratory through Chemia Analytics Inc.

About Namaste Technologies Inc.

Headquartered in Toronto, Canada, Namaste Technologies is a marketplace platform for cannabis and wellness products. At CannMart.com, the Company provides Canadian medical customers with a diverse selection of hand-picked products from a multitude of federally licensed cultivators and US customers with access to hemp-derived CBD and smoking accessories. The Company also distributes licensed and in-house branded cannabis and cannabis derived products in Canada through a number of provincial government control boards and retailing bodies and facilitates licensed cannabis retailer sales online in Saskatchewan. Namaste’s global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions.

Information on the Company and its many products can be accessed through the links below:

NamasteTechnologies.com

NamasteMD.com

Cannmart.com

For more information please contact:
Namaste Technologies Inc.
Meni Morim, CEO
Edward Miller, VP Investor Relations
Ph: 647-362-0390
Email: [email protected]

Source: Namaste Technologies Inc

FORWARD-LOOKING INFORMATION – This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen.

The forward-looking information contained herein, including, without limitation, statements related to distribution of products on cannmart.com and through CannMart provincial buyers are made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made, including, without limitation, CannMart Inc.’s ability to finalize and fulfill purchase orders for shatter products, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation: regulatory risk, risks relating to the Company’s ability to execute its business strategy and the benefits realizable therefrom and risks specifically related to the Company’s operations. Additional risk factors can also be found in the Company’s current MD&A and annual information form, both of which have been filed under the Company’s SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Source: Namaste Technologies Inc.

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