Author: Admin

Developer

Release – Bunker Hill Announces $15 Million Convertible Debt Financing

Posted on by Admin



Bunker Hill Announces Appointment Of General Manager And Secures Mining Contractor

News and Market Data on Bunker Hill Mining


Bunker Hill Announces $15 Million Convertible Debt Financing

Bunker Hill to Host Live Interactive 6ix Summit on Wednesday, June 22 @ 2:00pm ET / 11:00am PT

TORONTO, June 20, 2022 – Bunker Hill Mining Corp. (the “Company”) (CSE: BNKR; OTCQB: BHLL) is pleased to announce the execution and closing of a new $15 million convertible debenture financing (the “Series 2 Convertible Debentures”) with Sprott Private Resources Streaming & Royalty Corp. (“SRSR” or “Sprott”).  All figures in this news release are in US dollars unless otherwise stated.

Sam Ash, CEO, stated “We are very pleased to announce this new $15 million financing, representing an increase in our project finance package with Sprott to $66 million.  Together with our recent equity raise, this materially improves our working capital position, enables us to meet our financial assurance obligations with the EPA, and funds several key workstreams over the coming months including completion of the underground decline, demobilization of the Pend Oreille mill, and further engineering optimization in preparation for the mine restart.”

Investors are invited to register for the live interactive 6ix Summit at: 

CONVERTIBLE DEBENTURE
FINANCING

The Series 2 Convertible Debentures bear interest at an annual rate of 10.5%, payable in cash or shares at the Company’s option, and mature on March 31, 2025.  Repayments of $2 million shall be made at the end of each calendar quarter, starting on 30 June 2024, with the remaining $9 million due on March 31, 2025.  The Series 2 Convertible Debentures are convertible into shares of the Company at a share price of CAD 0.29 per share until the maturity date.  The Company may elect to re-pay the Convertible Debenture early; if SRSR elects not to exercise its conversion option at such time, a minimum of 12 months of interest would apply.  The Series 2 Convertible Debentures will be secured by the same security package that has been put in place to secure the $8 million Royalty Convertible Debenture and the aggregate $6 million Convertible Debentures (the “Series 1 Convertible Debentures”) that closed in January 2022.

The parties have also agreed to a number of changes to the previously announced project finance package of up to $51 million (of which $14 million has been advanced to date), consisting of the Royalty Convertible Debenture, Series 1 Convertible Debentures, and the Stream.  Firstly, the maturity dates of the Royalty Convertible Debenture and Series 1 Convertible Debentures have been extended to March 31, 2025 (previously July 7, 2023).  As previously envisaged, the Royalty Convertible Debenture will convert to a 1.85% life of mine royalty or be repaid when the Stream is advanced.  However, in the event of conversion, the Company will enter into a Royalty Put Option entitling the royalty holder to resell the royalty to the Company for $8 million upon default under the Series 1 Convertible Debentures or Series 2 Convertible Debentures until such time that the Series 1 Convertible Debentures and Series 2 Convertible Debentures are paid in full.  The Series 1 Convertible Debentures will remain outstanding until March 31, 2025, regardless of whether the Stream is advanced, unless the Company elects to exercise its option of early repayment.  Lastly, the minimum quantity of metal delivered under the Stream, if advanced, will increase by 10% relative to amounts announced in the news release of December 20, 2021.

In light of the Series 2 Convertible Debenture financing, the previously permitted additional senior secured indebtedness of up to $15 million for project finance has been removed.  However, the Company and Sprott have agreed that the Company is permitted to sell an additional $5 million of the Series 2 Convertible Debentures to other investors until August 1, 2022.

The net proceeds of the financing will be primarily used to satisfy the Company’s financial assurance obligations with the US Environmental Protection Agency (“EPA”) and the advancement of mine restart activities, including the completion of the underground decline, demobilization of the Pend Oreille mill, and advancement of EPCM activities in anticipation of mill construction in the fourth quarter of 2022.

NEXT STEPS

Additional optimization opportunities have been identified as technical work on the Prefeasibility Study (“PFS”) has advanced.  In order to incorporate these into the PFS, technical work is continuing and the PFS is now expected to be completed later in the third quarter of 2022.  The advancement of the Stream is also expected to take place at approximately that time.  While this additional technical work is in progress, development drifting will continue with an expected breakthrough into the internal ramp between the 6 and 8 levels to occur in September 2022.  Relocation of the Pend Oreille Mill will continue throughout the summer with a key milestone being the disassembly and transport of the primary ball mills in August.

RELATED PARTY
TRANSACTIONS

The financing transactions described in this press release (the “Transactions”) constitute related party transactions pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special
Transactions (“MI 61-101”).  In consideration of the financial circumstances of the Company and a determination by the directors, all of whom are considered independent as determined pursuant to Part 7 of MI 61-101, the Company intends to rely upon the “financial hardship” exemptions from the requirements to obtain a formal valuation and minority shareholder approval in Sections 5.5(g) and 5.7(e) of MI 61-101 respectively.  The Company will also file a material change report on SEDAR (www.sedar.com).  The material change report will be filed less than 21 days prior to the closing of the Transactions due to the Company’s immediate need for financing.

ABOUT BUNKER HILL MINING
CORP.

Under new Idaho-based leadership the Bunker Hill Mining Corp, intends to sustainably restart and develop the Bunker Hill Mine as the first step in consolidating a portfolio of North American precious-metal assets with a focus on silver.  Information about the Company is available on its website, www.bunkerhillmining.com, or within the SEDAR and EDGAR databases.

For additional
information contact:

David Wiens, CFA
CFO & Corporate Secretary
+1 208 370 3665
ir@bunkerhillmining.com

CAUTIONARY STATEMENTS

Certain
statements in this news release are forward-looking and involve a number of
risks and uncertainties. Such forward-looking statements are within the
meaning of that term in Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended,
as well as within the meaning of the phrase ‘forward-looking information’ in
the Canadian Securities Administrators’ National Instrument 51-102 –
Continuous Disclosure Obligations. Forward-looking statements are not
comprised of historical facts. Forward-looking statements include estimates
and statements that describe the Company’s future plans, objectives or goals,
including words to the effect that the Company or 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 the Company, the
Company 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, the Company’s intentions
regarding: its objectives, goals or future plans and statements; closing the
Stream as described herein with SRSR; the financing package with SRSR being
sufficient for the purposes described herein; the Company’s ability to secure
additional financing, whether dilutive or non-dilutive; the Company’s ability
to progress detailed engineering of the Bunker Hill Mine; the Company’s
ability to complete the underground decline, the demobilization of the Pend
Oreille mill, and further engineering optimization in preparation for the
mine restart; the Company’s ability to restart production at the Bunker Hill
Mine; and the completion of a pre-feasibility study and the timing thereof.
Factors that could cause actual results to differ materially from such
forward-looking information include, but are not limited to: the ability to
predict and counteract 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, restriction on labour and
international travel and supply chains; 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; the Company’s
ability to restart and develop the Bunker Hill Mine and the risks of not
basing a production decision on a feasibility study of mineral reserves
demonstrating economic and technical viability, resulting in increased
uncertainty due to multiple technical and economic risks of failure which are
associated with this production decision including, among others, areas that
are analyzed in more detail in a feasibility study, such as applying economic
analysis to resources and reserves, more detailed metallurgy and a number of
specialized studies in areas such as mining and recovery methods, market
analysis, and environmental and community impacts and, as a result, there may
be an increased uncertainty of achieving any particular level of recovery of
minerals or the cost of such recovery, including increased risks associated
with developing a commercially mineable deposit with no guarantee that
production will begin as anticipated or at all or that anticipated production
costs will be achieved; failure to commence production would have a material
adverse impact on the Company’s ability to generate revenue and cash flow to
fund operations; failure to achieve the anticipated production costs would
have a material adverse impact on the Company’s cash flow and future
profitability; delays in obtaining or failures to obtain required
governmental, environmental or other project approvals; political risks;
changes in equity markets; uncertainties relating to the availability and
costs of financing needed in the future; the inability of the Company to
budget and manage its liquidity in light of the failure to obtain additional
financing, including the ability of the Company to complete the payments to
the U.S. EPA pursuant to the terms of the agreement to acquire the Bunker
Hill Mine; inflation; changes in exchange rates; fluctuations in commodity
prices; delays in the development of projects; capital, operating and
reclamation costs varying significantly from estimates and the other risks
involved in the mineral exploration and development industry; the cost,
timing and ability to implement ESG initiatives which may not be technically
successful or economically viable;  and those risks set out in the
Company’s public documents filed on SEDAR. Although the Company 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. The Company 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. 
No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.

 

Contact Info:

Bunker Hill Mining Corp.
82 Richmond St East
Toronto, Ontario
M5C 1P1
+1.519.871.3998



Release – Entravision Radio Network’s ShoBoy Show Expands Coast To Coast Coverage With Four New Affiliates

Posted on by Admin


Entravision Radio Network’s ShoBoy Show Expands Coast To Coast Coverage With Four New Affiliates

06/21/2022

Entravision (NYSE: EVC), a leading global advertising solutions, media and technology company, announced today that the 
Shoboy Show hosted by Edgar “Shoboy” Sotelo is now being syndicated by four new affiliate stations including: Jacksonville, FL on WYKB-FM, Bakersfield, CA on KBQF-FM, Atlantic City, NJ on WSJO-FM and Scranton, PA on WGGY-FM.

The Shoboy
Show is a feel-good entertainment experience that’s real, relatable and fun. The program is the only bilingual Latino radio show that airs Monday through Friday throughout the daytime listening lineup and is now being syndicated in nine states ranging from California to Florida. Since the show’s inception in 2020, Entravision has had an exclusive sales agreement to represent the Shoboy Show nationally on a network basis and continues to expand the program’s market base each year.

Starting in August 2020, the Shoboy Show launched in McAllen, TX (KKPS 99.5 FM), Sacramento, CA (KHHM 101.9 FM) and Stockton-Modesto, CA (KCVR 98.9 FM); followed by Albuquerque, New Mexico (KJFA 102.9 AM-FM) in October and in Salt Lake City, UT (KBMG 106.3 FM) in November.

In the show’s second year of airing, the Shoboy Show debuted in six more markets, including Santa Barbara-Santa Maria, CA (KRTO 97.1 FM) in January 2021, followed by Las Vegas, NV (KRRN 92.7 FM) and Palm Springs, CA (KPST 103.5 FM) in March, San Diego, CA (XRST 107.7 FM) and Houston, TX (KLOL 101.1 FM) in June and Washington, DC (WLZL 107.9 FM) in November.

With the additions of the Jacksonville, Bakersfield, Atlantic City and Scranton markets, 15 stations now syndicate the award-winning program.

WHERE:
FLOW, 105.3, WYKB-FM, Jacksonville FL
Kalor, 104.3, KBQF-FM, Bakersfield, CA
PLAY, 93.9, WSJO-FM, Atlantic City, NJ
La Mega, 94.9, WGGY-FM, Scranton, PA

“We are very excited to continue the expansion of the Shoboy Show, which has consistently driven instant engagement with listeners,” said Nestor Rocha, Entravision Radio’s Vice President of Programming. “The Shoboy Show is part of the biggest music and lifestyle movement in the world. It’s bilingual, trendy, and personality-driven and a fast rising radio show.”

“What a great opportunity to welcome even more listeners to our familia,” said Edgar “Shoboy” Sotelo. “As we continue to expand our reach across the US, it is clear that listeners are searching for representation of their bicultural Latino lifestyle on the radio. I am so happy that the Shoboy Show can provide that exact opportunity, and I am grateful to all of our program directors for continuing to provide us with amazing opportunities to connect with listeners across the nation.”

In addition, Mr. Sotelo will be co-hosting the annual Radio Ink Hispanic Conference that begins on Wednesday, June 22, 2022. Mr. Sotelo has been nominated for Radio Ink’s Syndicated/Personality of the Year. In addition to hosting the event, Mr. Sotelo will also speak on a panel on Thursday, June 23 at 11:30 am ET. Alongside his fellow panelists, Mr. Sotelo will discuss the topic of “Content is King,” and how to expertly drive listeners to the air waves. Prior to the panel, Entravision will be sponsoring a breakfast for all event attendees. For more information on the conference and to view the full agenda, please visit hispanicradioconference.com.

About Entravision
Communications Corporation

Entravision is a leading global advertising solutions, media and technology company connecting brands to consumers. Our dynamic portfolio includes digital, television and audio offerings. Digital, our largest revenue segment, is comprised of four business units: our digital sales representation business; Smadex, our programmatic ad purchasing platform; our branding and mobile performance solutions business; and our digital audio business. Through our digital sales representation business, we connect global media companies such as Meta, Twitter, TikTok and Spotify with advertisers in primarily emerging growth markets worldwide. Smadex is our mobile-first demand side platform, enabling advertisers to execute performance campaigns using machine learning. We also offer a branding and mobile performance solutions business, which provides managed services to advertisers looking to connect with global consumers, primarily on mobile devices, and our digital audio business provides digital audio advertising solutions for advertisers in the Americas. In addition to digital, Entravision has 49 television stations and is the largest affiliate group of the Univision and UniMás television networks. Entravision also manages 46 primarily Spanish-language radio stations that feature nationally recognized, Emmy award-winning talent. Shares of Entravision Class A Common Stock trade on The New York Stock Exchange under the ticker symbol: EVC. Learn more about all of our media, marketing and technology offerings at entravision.com or connect with us on 
LinkedIn and Facebook.

View source version on 
businesswire.com: https://www.businesswire.com/news/home/20220617005544/en/

Contact for
Affiliation:
Andrea Becerra Prado
abecerra@entravision.com
323-900-6302

Contact for Entravision:
Kimberly Esterkin
Addo Investor Relations
evc@addo.com
310-829-5400

Source: Entravision Communications Corporation

 

Michael Burry is Predicting More Red

Posted on by Admin 



Image Credit: Pixabay (Pexels)


Are Michael Burry’s Twitter Predictions on Point?

I’m bullish on Michael Burry Articles. The demand among investors and other readers is intense. Even those published
two years ago on Channelchek are consumed by new readers each day. And each time he deletes
his Twitter (TWTR) account, even more traffic is driven to those stories. The hedge fund manager, medical doctor, and subject of the movie, “The Big Short,” has again deleted his Twitter account after highlighting through various tweets, how ahead of the curve he has been with his predictions. 

As an investor with a cult-like following, Burry is best known for having predicted the 2008 mortgage crisis, and more significantly, how to line up trades to profit from it. Anecdotally, it seems he’s more comfortable predicting
downside. This year he began suggesting the U.S. economy may succumb to a similar fate. Throughout 2022, with growing concern, Burry has been consistently warned of a painful recessionary period ahead, and has held investments in prisons, military contractors, and has shorted Apple (AAPL), and placed big bets against U.S. Treasuries.

As with his short on the mortgage markets, Burry is usually early with his predictions. Others in the investment world tend to disregard his early warnings well ahead of events that often have eventually unfolded as he predicted. Based on his tweets, this lack of being believed frustrates the successful fund manager. This is likely why he refers to himself on Twitter as Cassandra
B.C.  In Greek mythology, Cassandra was a Trojan priestess with the gift of accurately prophecizing the future. However, she was also cursed with no one ever believing her prophecies – Cassandra was instead described as insane.

It is typical for Burry to disable his Twitter account after tweeting some of his more emotional tweets. He does this and then resurfaces with those tweets deleted. Recently deleted posts show Burry believes that fake Twitter accounts use his tweets. Specifically, he suggests bots and others pump asset purchases as comments on his posts. This helps them boost whatever it is they are trying to pump. He gives the reason for deleting his account as a way to discourage misuse of his famous tweets,“But it’s breathtaking, this religion of real and fake people. The speculation probably tops anything in history,” he wrote.

He is no fan of cryptocurrency. “If you don’t know how much leverage is in crypto, you don’t know anything about crypto, no matter how much else you think you know,” he tweeted. This is a similar cry to his posts in April 2020 when he predicted the U.S. would suffer from runaway inflation. He was also critical of the wisdom of the meme stock frenzy, which skyrocketed the prices of a few nostalgic stocks.

After last May’s CPI numbers, Burry tweeted, “Transitory, no. Peak, no. To the moon? If you mean a cold dark place.” As per Burry, inflation broke the weakest sector with “no buyers for MBS.” His prophecy that inflation numbers have not yet peaked this year and says the mainstream news that are reporting a strong dollar are looking at it incorrectly. In his
measurement system, the dollar is weak. is being heeded by some of his followers, the reduced value of the dollar spending power the inflation of May is not yet at its peak has created profound fear among the masses, as they are already dealing with the reduced disposable income coupled with increasing gasoline prices and other everyday use items.

It was in June 2021 Burry posted, “When crypto falls from trillions, or meme stocks fall from tens of billions, #MainStreet losses will approach the size of countries. History ain’t changed.” While scoffed at the time, and certainly there were many who got in, got out, and grew their accounts back then, but those that held are seeing a lot of red due to both the crypto selloff and the unwinding of the meme stock trade, not to mention the overall market performance. 

Burry’s latest exit from Twitter was after a warning for the rest of 2022. He indicated unfathomable pain. While there is already pain in the market and on main street, his forecast is in addition to what may be a recession this year,  a reduction in savings rates, 41-year high inflation rates, relative dollar weakness, and markets down between 23% and 31%. 

Take Away

Dr. Michael Burry has again tweeted
about doom and complained that people aren’t listening. It is worth understanding his expectations and deciding whether they are viable and if there is action you as an investor should take. Articles surrounding his expectations and his portfolio holdings are widely read by investors. Sign up for Channelchek emails to stay in touch with these stories and many others.

Paul Hoffman

Managing Editor, Channelchek

Suggested Content



A Close Look at Michael Burry’s Plane Crash Comments

Michael Burry’s Latest Portfolio Brings the FAANGS Out




Michael Burry Couldn’t Resist Tweeting a Few Words About Twitter’s Largest Shareholder

Can Stock Market Index Enthusiasm Cause Costly Bubbles?


Sources

https://www.newtraderu.com/category/michael-burry/

https://markets.businessinsider.com/news/stocks/big-short-michael-burry-inflation-interest-rates-housing-market-mortgages-2022-6 

https://www.tipranks.com/news

Stay up to date. Follow us:

 

Element79 Gold Corp. (ELMGF) – Definitive Agreement to Acquire Peruvian Gold Portfolio

Posted on by Admin

Tuesday, June 21, 2022

Element79 Gold Corp. (ELMGF)
Definitive Agreement to Acquire Peruvian Gold Portfolio

Element79 Gold is a mineral exploration company focused on the acquisition, exploration and development of mining properties for gold and associated metals. Element79 Gold has acquired its flagship Maverick Springs Project located in the famous gold mining district of northeastern Nevada, USA, between the Elko and White Pine Counties, where it has recently completed a 43-101-compliant, pit-constrained mineral resource estimate reflecting an Inferred resource of 3.71 million ounces of gold equivalent* “AuEq” at a grade of 0.92 g/t AuEq (0.34 g/t Au and 43.4 g/t Ag)) with an effective date of Feb. 4, 2022. The acquisition of the Maverick Springs Project also included a portfolio of 15 properties along the Battle Mountain trend in Nevada, which the Company is analyzing for further merit of exploration, along with the potential for sale or spin-out. In British Columbia, Element79 Gold has executed a Letter of Intent to acquire a private company which holds the option to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central British Columbia, approximately 20km west of Fort St. James. In Peru, Element79 Gold has signed a letter of intent to acquire the business and assets of Calipuy Resources Inc., which holds 100% interest in the past-producing Lucero Mine, one of the highest-grade underground mines to be commercially mined in Peru’s history, as well as the past-producing Machacala Mine. The Company also has an option to acquire 100% interest in the Dale Property which consists of 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, Canada in the Timmins Mining Division, Dale Township.

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

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

Definitive agreement to acquire Calipuy Resources. As anticipated, Element79 Gold Corp. executed a definitive agreement to purchase the issued and outstanding common shares of Calipuy Resources Inc. for consideration value of US$15 million. Through its subsidiaries, Calipuy holds a 100% interest in two past producing high-grade gold-silver mines in Peru, the Lucero and Machacala mines. Closing is subject to various conditions, including third-party approvals and other customary conditions.

Terms of the agreement. Upon closing, the US$15 million purchase price for the shares of Calipuy will be paid by the issuance on a pro rata basis to the shareholders of Calipuy: 1) a total of 19,165,486 common shares of the company at an issue price of CAD$1.00 per consideration share, and 2) performance bonus warrants to acquire an aggregate of 3,833,085 common shares of Element79 Gold. Issuance of consideration shares will be paid in CAD denominated shares at the agreed exchange rate of CAD$1.2777 to USD$1.00. Each performance bonus warrant is exercisable into one common share of Element79 at an exercise price of CAD$2.00 per share for a period of three years from the exercise eligibility date. Holders of the performance bonus warrants may not exercise the warrants until projects carried out on the properties have cumulatively reached a minimum production target of 9,000 tons of ore yielding a minimum of 1,500 ounces of gold within a 30-day production period. …

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

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Ocugen Announces Publication Of Positive Results Of Covid-19 Vaccine Trial For Children 2-18 In The Lancet Infectious Diseases

Posted on by Admin


OCUGEN ANNOUNCES PUBLICATION OF POSITIVE RESULTS OF COVID-19 VACCINE TRIAL FOR CHILDREN 2-18 IN THE LANCET INFECTIOUS DISEASES

June 21, 2022

Ocugen’s partner Bharat Biotech’s Phase 2/3 study of COVAXIN™ (BBV152) in 526 children showed safety, efficacy, and superior response to that shown in adults

Ocugen has North American commercialization rights for COVAXIN™

MALVERN, Pa., June 21, 2022 (GLOBE NEWSWIRE) — Ocugen, Inc. (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies, biologicals, and vaccines, today announced the publication of positive pediatric Phase 2/3 study results in children aged 2–18 years for the COVID-19 vaccine COVAXIN™ (BBV152) in The Lancet Infectious Diseases (“The Lancet”). COVAXIN™ is developed and manufactured by Ocugen’s partner Bharat Biotech International Limited (“Bharat Biotech”), a global leader in vaccine innovation based in Hyderabad, India, and is under clinical investigation by Ocugen in the United States for use in adults aged 18 years and older.

The Lancet article, entitled “Immunogenicity and reactogenicity of an inactivated SARS-CoV-2 vaccine (BBV152) in children aged 2–18 years: interim data from an open-label, non-randomised, age de-escalation phase 2/3 study,” which was authored by Dr. Krishna Mohan Vadrevu, Siddharth Reddy, MSc, and others, was published on June 16, 2022.

Ocugen has commercial rights for COVAXIN™ throughout North America and COVAXIN™ has emergency use authorization in Mexico for adults. Ocugen is continuing to explore pediatric emergency use authorization in Mexico. This data demonstrates that the same dose is effective in both pediatrics and adults (ages two and older) and would be an ideal option as the majority of Americans are looking for traditional vaccine options. Ocugen is continuing its effort to bring this vaccine to the North American Market.

“We congratulate Bharat Biotech on the publication of the COVAXIN™ pediatric data in this prestigious peer-reviewed medical journal,” said Dr. Shankar Musunuri, Chairman, CEO, and Co-Founder of Ocugen. “Not only is this a strong validation of the work they are doing, but it is a very encouraging development in the effort to contain this pandemic, which needs a greater variety of vaccine options to combat the multiple COVID-19 variants. We believe the distinct features of COVAXIN™ offer benefits that could help improve public health.”

Dr. Krishna Ella, Chairman and Managing Director of Bharat Biotech, said, “We are glad to have Ocugen as a valuable partner to help bring COVAXIN™ to North America. Safety of the vaccine is critical for children, and we are glad to share that COVAXIN™ has proven data for safety and immunogenicity in children. We have now achieved our goal of developing a safe and efficacious COVID-19 vaccine for adults and children, for primary immunization and booster doses, making COVAXIN™ a universal vaccine. It has proven to be a highly safe vaccine based on data from more than 50 million doses administered to children in India.”

The low reactogenicity might make COVAXIN™ more acceptable in pediatric populations than the more reactogenic mRNA vaccines as Bharat Biotech’s pediatric Phase 2/3 study had no serious adverse events, deaths, or withdrawals due to an adverse event including no cases of Guillain-Barré syndrome, thromboembolic events, myocarditis, or pericarditis, or other adverse events of special interest being observed to date. We believe COVAXIN™ will be a valuable tool in the global immunization effort as it can be stored at 2–8°C, which is standard vaccine storage conditions. Follow-up studies to assess pediatric effectiveness are underway, but this study suggests that similar efficacy, measured by the ability of a vaccine to prevent disease, might be anticipated in children based on the observation of superior immunogenicity, measured by the ability of a vaccine to produce an immune response, as compared to adults.

The open-label, non-randomized study was conducted in six hospitals in India and included 526 healthy children. Two doses of COVAXIN™ were administered 28 days apart in three groups according to their ages, two to six years, six to 12 years, and 12 to 18 years. The results were compared with those from adults who participated in a previously reported Phase 2 study. The study is registered with the Clinical Trials Registry, India (CTRI/2021/05/033752) and ClinicalTrials.gov (NCT04918797).

About COVAXIN™ (BBV152)
The COVID-19 vaccine candidate BBV152, known as COVAXIN™ outside the United States, is a whole-virion inactivated COVID-19 vaccine candidate that applies the same Vero cell manufacturing platform, which has been used in the production of polio vaccines for decades. COVAXIN™ was co-developed with Ocugen’s partner, Bharat Biotech, in collaboration with the Indian Council of Medical Research – National Institute of Virology. COVAXIN™ has been granted Emergency Use Listing by the World Health Organization based on a submission by Bharat Biotech. COVAXIN™ is formulated uniquely such that the same dosage can be administered to adults and children alike, making it truly a universal vaccine. COVAXIN™ is a ready to use liquid vaccine stored at 2-8°C with a 12-month shelf life and multi dose vial policy.

About Ocugen, Inc.
Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies, biologicals, and vaccines that improve health and offer hope for people and global communities. We are making an impact through courageous innovation, taking science in new directions in service of patients. Our breakthrough modifier gene therapy platform has the potential to treat multiple diseases with one drug and we are advancing research in other therapeutic areas to offer new options for people with unmet medical needs. Discover more at www.ocugen.com and follow us on Twitter and LinkedIn.

Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such forward-looking statements include, but are not limited to, statements about COVAXIN™ efficacy, safety, and immunogenicity in children aged 2-18 years, Ocugen’s ability to expand emergency use authorization for COVAXIN™ in Mexico to include children aged 2-18 years, Ocugen’s intention to continue its effort to bring COVAXIN™ to the North American Market, and the potential advantages of COVAXIN™ over other vaccines. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (“SEC”), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.

Contacts:
Tiberend Strategic Advisors, Inc.
Jonathan Nugent / Daniel Kontoh-Boateng (Investor Relations)
jnugent@tiberend.com
dboateng@tiberend.com

Bill Borden (Media)
bborden@tiberend.com

 

 

Release – Finnair and Gevo Enter Into Sustainable Aviation Fuel Sales Agreement For 7 Million Gallons Of Per Year Over Five Years

Posted on by Admin



FINNAIR AND GEVO ENTER INTO
SUSTAINABLE AVIATION FUEL SALES AGREEMENT FOR 7 MILLION GALLONS OF PER YEAR
OVER FIVE YEARS

ENGLEWOOD, Colo., June 21, 2022 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ: GEVO) is pleased to announce a new fuel sales agreement with Finnair. The Agreement outlines the details for the purchase of 7 million gallons per year of sustainable aviation fuel (SAF) for five years from Gevo’s commercial operations. Deliveries of the SAF by Gevo are expected to begin in 2027. The expected value for the Agreement to be $192 million over the five-year period, inclusive of the value from environmental benefits for Gevo.

Finnair is a member of oneworld® Alliance, and this Agreement falls under the purview of a memorandum of understanding (MoU) that oneworld and Gevo signed in April 2022, laying the groundwork for the 14 world-class airlines in the alliance to purchase 200 million gallons of SAF per year, from Gevo’s commercial operations. The Agreement with Finnair will broaden Gevo’s range of airline partners and grow its global footprint with its sustainable fuel products, and also supports our efforts in pursuit of our stated goal of producing and commercializing a billion gallons of SAF by 2030.

“Gevo was founded on the principle of building sustainability into every step of our process,” said Dr. Patrick R. Gruber, Gevo’s Chief Executive Officer. “But it is not static—it’s always improving: We’re constantly incorporating new developments at every stage of our business system to reduce our carbon intensity. This is expected to make the renewable energy carried in our advanced renewable fuels even more impactful as they help to lower our customers’ carbon scores.”

Finnair uses an extensive toolkit to achieve emission reductions – using sustainable aviation fuels, reducing the weight of aircraft, developing fuel-efficient flight methods, offsetting, and engaging customers in reducing aviation emissions. Finnair is also actively exploring the possibilities of introducing new technologies into its operations.

“Finnair has ambitious emissions reduction targets: by the end of 2025, we intend to halve the level of net emissions from 2019 and achieve carbon neutrality latest by the end of 2045. SAF plays an important role for reaching these targets,” says Eveliina Huurre, SVP Sustainability at Finnair.

Gevo’s process is designed to create multiple efficiencies by allowing the same acre of farmland to produce SAF from corn using atmospheric carbon while simultaneously adding high-value nutritional products to the food chain.  

“Finnair knows the future will be built on renewable energy, and our SAF delivers renewable energy in a drop-in fuel that is expected to make an impact right away,” said Dr. Gruber. “Because its fungible, this SAF is expected to reduce the carbon intensity in any flight proportional to the blend used to fill up the aircraft.”

The Agreement with Finnair is subject to certain conditions precedent, including Gevo developing, financing, and constructing one or more production facilities to produce the SAF contemplated by the Agreement.

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

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

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

About Finnair
Finnair is a network airline, specialising in connecting passenger and cargo
traffic between Asia, North America and Europe. Sustainability is at the heart
of everything we do – ?Finnair intends to reduce its net emissions by 50% by
the end of 2025?from the 2019 baseline?and achieve carbon neutrality latest by
the end of 2045. Finnair is a member of the oneworld alliance. Finnair Plc’s
shares are quoted on the Nasdaq Helsinki stock exchange.

Learn more about Finnair here: finnair.com

Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including Gevo’s technology, the agreement with Finnair, Gevo’s ability to develop, finance and construct one or more production facilities to produce the SAF contemplated by the Agreement with Finnair, the timing of Gevo producing the SAF for Finnair, Gevo’s estimate of the expected value of the Agreement with Finnair, the oneworld Alliance, Gevo’s production of SAF, the attributes of Gevo’s products, Gevo’s ability to create net-zero carbon intensity products, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2021, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.

Media Contact
Heather L. Manuel
+1 303-883-1114
IR@gevo.com

C-Suite Interview with Maple Gold Mines (MGMLF)(MGM.V) President & CEO Matthew Hornor

Posted on by Admin

Noble Capital Markets Senior Research Analyst Mark Reichman sits down with Maple Gold Mines (MGMLF)(MGM.V) President & CEO Matthew Hornor

Research, News, and Advanced Market Data on MGMLF


View all C-Suite Interviews


The 2022 C-Suite Interview series is now available on major podcast platforms

About Maple Gold

Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50/50 joint venture with Agnico Eagle Mines Limited to jointly advance the district-scale Douay and Joutel gold projects located in Quebec’s prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km2 of highly prospective ground including an established gold resource at Douay (SLR 2022) that holds significant expansion potential as well as the past-producing Eagle, Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property.

The district-scale property package also hosts a significant number of regional exploration targets along a 55 km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the project ripe for new gold and polymetallic discoveries. The Company is well capitalized and is currently focused on carrying out exploration and drill programs to grow resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.com.

Release -Defense Metals Diamond Drilling Update – Pit Slope Geotechnical Preparations Underway

Posted on by Admin



Defense Metals Diamond Drilling Update – Pit Slope Geotechnical Preparations Underway

News, and Market Data on Defense Metals


News Release – Vancouver,
British Columbia – June 17, 2022: Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V:DEFN / OTCQB:DFMTF / FSE:35D) is pleased to provide an update for ongoing  diamond drilling at its Wicheeda Rare Earth Element (REE) deposit. The 2022 diamond drilling campaign commenced in the northern resource area with the first two resource delineation drill holes totalling approximately 615 metres now nearing completion.
 

The initial two drill holes were collared from the same site oriented southwest at -50 and -60 degree dips. The holes are designed to establish the eastern carbonatite contact near surface, and for the purpose of resource infill near 2021drill hole WI21-33 that yielded 3.17% TREO over 196 metres;
including 4.29% TREO over 55 metres[1] at depth that expanded high-grade REE mineralization beyond the mineral resource pit shell. Both holes intersected significant intervals of visually REE mineralized dolomite carbonatite between as predicted by the geological model (Image 1).

 

[1]The true width of REE mineralization is estimated to be 70-100% of the drilled interval

 

 

Image 1: Visibly REE Mineralized Dolomite Carbonatite from
Drill Hole WI22-62 (approximately 120 metres downhole)

 

As announced in its June 7, 2022, drilling commencement news release, the Company plans to complete up to 5,000 metres of diamond drilling designed to further delineate existing resources, assess near deposit exploration targets, collect geotechnical and hydrogeological drilling for the purpose of optimization of open pit slope design, and generate additional REE mineralized material for continued metallurgical testwork.

Kristopher Raffle, P.Geo., Director and QP of Defense Metals commented:

“With the second drill hole of our 2022 resource infill
campaign nearing completion, we look forward in the coming days to
initiating co-purposed infill and pit slope geotechnical drill holes in
the main deposit and PEA mine schedule pit highwall areas, in addition to
continuation of pad building for planned exploration holes. With 2022
drilling operations once again based at the Wicheeda Deposit site field
camp, we expect to be able to take advantage of logistical efficiencies;
most notably a reduction on helicopter utilization.”
 

Other Company Updates
 

The Company attended the Prospectors & Developers Association of Canada Convention (PDAC) in Toronto, Ontario from June 13, 2022 to June 15, 2022 and met with several industry stakeholders including shareholders, investment firms, and strategic industry companies.
 

Defense Metals recently staked additional mineral claims contiguous to the Wicheeda REE Property. The 100% owned Wicheeda REE Property is now 4,244-hectares.

 

Further to the Company’s news release dated May 24, 2022, the Company paid US$100,000 to Digitonic Limited, an arm’s-length party to provide investor relations services and to provide content creation, digital and video marketing services.
 

About the Wicheeda REE Property
 

The 100% owned 4,244-hectare Wicheeda REE Property, located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is near infrastructure, including power transmission lines, the CN railway, and major highways.
 

The Wicheeda REE Project yielded a robust 2021 PEA that demonstrated an after-tax net present value (NPV@8%) of $517 million, and 18% IRR[1]. A unique advantage of the Wicheeda REE Project is the production of a saleable high-grade flotation-concentrate. The PEA contemplates a 1.8 Mtpa (million tonnes per year) mill throughput open pit mining operation with 1.75:1 (waste:mill feed) strip ratio over a 19 year mine (project) life producing and average of 25,423 tonnes REO annually. A Phase 1 initial pit strip ratio of 0.63:1 (waste:mill feed) would yield rapid access to higher grade surface mineralization in year 1 and payback of $440 million initial capital within 5 years.
 

Qualified Person
 

The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and a “Qualified Person” as defined in NI 43-101. Mr. Raffle verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein.  
 

About Defense Metals Corp.
 

Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.
 

For further information, please contact:
 

Todd Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
Email: todd@blueskycorp.ca
 

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 news release.

 
Cautionary Statement Regarding “Forward-Looking”
Information
 

This news release contains “forward?looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, completion of drilling, receipt of drill results including anticipated timeline of such results/assays, the Company’s plans for its Wicheeda REE Project, expanded resource and scale of expanded resource, expected results and outcomes, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations),  risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological and engineering assumptions, decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, an inability to predict and counteract 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, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed drilling results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward?looking statements or forward?looking information, except as required by law.
 

 

[1] Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.’s Issuer Profile on SEDAR (www.sedar.com).



Release – Seanergy Maritime Announces Proposed Spin-Off

Posted on by Admin



Seanergy Maritime Holdings Corp. Reports First Quarter 2022 Financial Results and Declares Dividend of $0.025 Per Share

June 17, 2022 – Glyfada, Greece – Seanergy Maritime Holdings Corp. (the “Company” or “Seanergy”) (NASDAQ: SHIP) announced today that it intends to effect a spin-off of the Company’s oldest Capesize vessel, the M/V Gloriuship, through a wholly-owned subsidiary. The newly formed subsidiary, United Maritime Corporation (“United”), will act as the holding company for the M/V Gloriuship. United has applied to have its common shares listed on the Nasdaq Capital Market and is expected to adopt a diversified business model, with investments across various maritime sectors.

Seanergy is contributing the vessel-owning subsidiary of the M/V Gloriuship to United and intends to distribute all the common shares of United pro rata to the Company’s shareholders of record as of June 28, 2022, which coincides with the previously-announced record date for Seanergy’s cash dividend of $0.025 per share for the first quarter of 2022. The distribution of United common shares is expected to be made on or around July 5, 2022. United common shares are expected to commence trading on a standalone basis on the Nasdaq Capital Market on the first trading day after the date of distribution, under the ticker “USEA”. 

The transaction remains subject to the registration statement on Form 20-F being declared effective and the approval of the listing of United’s common shares on the Nasdaq Capital Market. There can be no assurance that the transaction will occur or, if it does occur, of its terms or timing.

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

“The spin-off of 100% of the common shares of United Maritime Corporation represents a significant return of value to our shareholders. Our board of directors believes that the distribution of shares of a separate, publicly traded shipping company that will pursue a diversified business model and greater exposure to different shipping segments will further enhance shareholder value.”

“Seanergy will continue its successful course as a pure-play Capesize owner, and we intend to substitute our oldest vessel, the Gloriuship, with a younger Capesize vessel.

“At the same time the uninterrupted payment of cash dividends by Seanergy over the last two quarters is a solid indication of our stated intention to continue rewarding our shareholders.”

Seanergy shareholders do not need to take any action to receive United shares to which they are entitled, and do not need to pay any consideration or surrender or exchange Seanergy common shares. Seanergy common shareholders will receive one United common share for every 118 Seanergy common shares held at the close of business on June 28, 2022, the record date for the distribution. Fractional common shares of United will not be distributed. Instead, the distribution agent will aggregate fractional common shares into whole shares, sell such whole shares in the open market at prevailing rates promptly after United’s common shares commence trading on the Nasdaq Capital Market, and distribute the net cash proceeds from the sales pro rata to each holder who would otherwise have been entitled to receive fractional common shares in the distribution. It is not anticipated that a “when-issued” trading market in United common shares will be established, and therefore it is not anticipated that United common shares will begin trading on a standalone basis until the trading day following the date of distribution. Shares of Seanergy common stock are expected to trade with due bills from the record date through and including the date of the distribution of the United common shares. Accordingly, Seanergy common shareholders as of the record date must continuously hold such Seanergy common shares through and including the distribution date in order to receive common shares of United in the proposed spin-off. Holders of Seanergy common shares are encouraged to consult with their financial and tax advisors regarding the specific implications of the proposed spin-off, including the implications of trading in Seanergy common shares prior to the distribution date and the U.S. federal, state and local or foreign tax consequences, as applicable, of the proposed spin-off.

United has filed a registration statement on Form 20-F pursuant to the Securities Exchange Act of 1934 with the Securities and Exchange Commission, which includes a more detailed description of the terms of the proposed spin-off transaction. A copy of the registration statement on Form 20-F is available at www.sec.gov. The information in the filed registration statement on Form 20-F is not final and remains subject to change.

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. The Company’s fleet consists of 17 Capesize vessels with an average age of 12.3 years and aggregate cargo carrying capacity of 3,011,083 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”.

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, including statements regarding the anticipated spin-off of United, including transaction timing and certainty, the planned record and distribution dates our and United’s anticipated competitive positioning and positioning for future success following the spin-off. 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 impact of regulatory requirements or other factors on the Company’s ability to consummate the proposed spin-off; 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; broader market impacts arising from war (or threatened war) or international hostilities, such as between Russia and Ukraine; 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: ir@seanergy.gr 

Capital Link, Inc.

Paul Lampoutis
230 Park Avenue Suite 1536
New York, NY 10169
Tel: (212) 661-7566
E-mail: seanergy@capitallink.com

Entravision Communications (EVC) – Quarterly Preview: Raising Estimates

Posted on by Admin

Friday, June 17, 2022

Entravision Communications (EVC)
Quarterly Preview: Raising Estimates

Entravision Communications Corporation is a diversified Spanish-language media company utilizing a combination of television and radio operations to reach Hispanic consumers across the United States, as well as the border markets of Mexico. Entravision owns and/or operates 53 primary television stations and is the largest affiliate group of both the top-ranked Univision television network and Univision’s TeleFutura network, with television stations in 20 of the nation’s top 50 Hispanic markets. The Company also operates one of the nation’s largest groups of primarily Spanish-language radio stations, consisting of 48 owned and operated radio stations.

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

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

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

Q2 expected to exceed consensus. We believe that revenue trends in the company’s digital and TV businesses are pacing slightly better than our original estimates. As such, we are raising our total company revenue estimate from $219.1 million to $222.7 million. And, we are raising our Q2 adj. EBITDA estimate from $19.7 million to $21.9 million. We believe that the results will exceed consensus and current analysts estimates. 

Digital on fire. We believe that the company is expanding its international markets, developing deep relationships with social media companies, and seeing strong growth for its programmatic business Smadex. Digital revenue growth is expected to be roughly 35% in Q2 and a strong 32% for the full year 2022. …

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

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Will Sell off Impact Russell Reconstitution Investor Strategies?

Posted on by Admin 



Image Credit: Todd F Niemand (Flickr)


Investors and Traders that Jumped in Early to FTSE Russell Trade May Have Gotten Soaked

How has the stock market sell off impacted the FTSE Russell Reconstitution? A sudden rise in a stock’s price is almost always demand-related. And demand for a few hundred stocks has been expected to come a week from Monday when the market opening bell rings on June 27. The FTSE Russell 3000 will include 300 new names for the next year or more. The FTSE Russell will also be recalibrating its Microcap Index. Fund managers that manage index funds tied to these benchmarks will need to eliminate their holdings in what is exiting the index related to the fund they manage, and on a balanced weighting, take on some new names to their holdings. Hedge funds and individual investors know this and it has become popular to front-run the late June shift in demand. But an unexpected selloff might be gunking up investor strategies.

Background

Inclusion in a major market index is exciting for the management of a publicly held company, while it can cause dislocations and wild price swings that may not wind up with the stock price being higher, they can count on higher trading volume, which increases liquidity and reduces bid/ask spreads. 

For investors, since the 1990s, it has signaled a period where hedge funds and individuals alike try to take advantage of the short-term dislocations and adjustments. It’s important for all involved to remember that much of the list of names included or excluded for the first time in a Russell Index may just be moving from one index classification to another. In these cases, it may be difficult to gauge whether there will be higher demand or lower. Market forces also play a large part; the market has been bearish recently, so performance is relative.


Source: Koyfin

Reconstitution June 2022

There is no indication of how monetary policy, inflation, investor appetite, and market weakness is going to affect the final days of the rebalancing. The Russell 3000 Index (shown above using VTHR) is down 11.12% since rank day. The Russell 2000 is down 9.99%. Rank day is when the FTSE Russell looks at all stock’s closing prices and determines the top 3000 stocks by market value.

For investors and traders that were looking to, and even have acted to cash in on an early entry strategy, and even portfolio managers that got an early start rebalancing, they may have been caught by all the fall off in the markets; some may have even amassed oversized losses.

Typical Pre-Rebalance Day Strategy

The basics of the strategy involves buying up shares in companies slated for inclusion in an index and selling short the companies about to be removed. Trillions of dollars in passive investment funds like Mutual funds and ETFs are designed to mimic these indexes. Knowing this, traders, hedge funds, and savvy individuals have noted the changes announced by Russell weeks in advance, purchases some of those expected to be added, and then wait until late June and early July to sell these positions. The result over the years has at times been significant, with high probability of price moves. The added stocks on average rise and the deleted stocks wane. 

Not Your Typical June

This strategy has been around a while, but it has gotten crowded over the past five years. Investors and traders in 2022 may need to temper their enthusiasm with this rebalance. This year there may already be far more than average that are holding stocks in these names that will soon be lined up to unwind. This could cause weakness in the very stocks purchased to rise. Plus, investors may already be down double digits in these names.


Source: Koyfin

The nearly 300 stocks scheduled to join the index on June 27 include Airbnb (ABNB), Lucid Motors (LCID), SoFi Technologies (SOFI) , WeWork (WE), and many others that have gone off a cliff this month. The S&P 500 and Russell 3000 are each down 9%.

It’s not the first time the index-rebalance trade has soaked participants. In 2020, specialists in the strategy started off in disarray as fallout from COVID-19 late Spring altered many of the rebalance participants that hedge funds had presupposed. What was strong became weak and what was weak became strong just before the rank date.

Take Away

There are investors that look to determine which companies may be added to an index and which may be removed. Although being right doesn’t always mean huge gains, the rewards, on average, make this a legitimate approach for stock picking. This year the Russell 3000 index may have undermined strategies to get in early unless those that got in early shorted stocks being removed.

The sell off prior to the June 27 reopening could leave many who looked at their Russell Index play as a short term holding taking a huge loss, or keeping the money tied up while hoping for a 30% rally. Tax considerations aside, if any holding becomes dead money for any length of time, while there are better opportunities, taking a loss should be considered.

Be careful out there.

Paul Hoffman

Managing Editor, Channelchek

Suggested Content



Russell Reconstitution 2022, What Investors Should Know

Investors Keeping Their Eye on Fridays in June




Has Summer Driving Season Been Cancelled by High Gas Prices?

Is Crumbling Trust in the Financial System Leading to a Flight to Real Assets?

Sources

https://www.ftserussell.com/press

https://www.businessinsider.com/overcrowded-index-rebalance-trade-leads-to-losses-for-hedge-funds-2022-6#

https://www.sec.gov/fast-answers/answersindiceshtm.html

 


Sources

https://twitter.com/elonmusk/status/1501449525831081987

https://www.cnbc.com/2022/06/14/bitcoin-plunge-spells-trouble-for-michael-saylors-microstrategy.html

Stay up to date. Follow us:

 

Why Understanding the Metaverse isn’t Common Sense

Posted on by Admin 


Image Credit: Kimberly Winnington


How We Describe the Metaverse Makes a Difference – Today’s Words Could Shape Tomorrow’s Reality and Who Benefits from It

Quick, define the word “metaverse.”

Coined in 1992 by science fiction author Neal Stephenson, the relatively obscure term exploded in popularity during the COVID-19 pandemic, particularly after Facebook rebranded as Meta in October 2021. There are now myriad articles on the metaverse, and thousands of companies have invested in its development. Citigroup Inc. has estimated that by 2030 the metaverse could be a US$13 trillion market, with 5 billion users.

From climate change to global connection and disability access to pandemic response, the metaverse has incredible potential. Gatherings in virtual worlds have considerably lower carbon footprints than in-person gatherings. People spread all over the globe can gather together in virtual spaces. The metaverse can allow disabled people new forms of social participation through virtual entrepreneurship. And during the early days of the COVID-19 pandemic, the metaverse not only provided people with ways to connect but also served as a place where, for instance, those sharing a small apartment could be alone.

No less monumental dangers exist as well, from surveillance and exploitation to disinformation and discrimination.

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It was written by and represents the research-based opinions of Tom Boellstorff, Professor of Anthropology, University of California, Irvine.

But discussing these benefits and threats remains difficult because of confusion about what “metaverse” actually means. As a professor of anthropology who has been researching the metaverse for almost 20 years, I know this confusion matters. The metaverse is at a virtual crossroads. Norms and standards set in the next few years are likely to structure the metaverse for decades. But without common conceptual ground, people cannot even debate these norms and standards.

Unable to distinguish innovation from hype, people can do little more than talk past one another. This leaves powerful companies like Meta to literally set the terms for their own commercial interests. For example, Nick Clegg, former deputy prime minister of the U.K. and now president of global affairs at Meta, attempted to control the narrative with the May 2022 essay “Making the Metaverse.”

 

Categorical Prototypes

Most attempted definitions for metaverse include a bewildering laundry list of technologies and principles, but always included are virtual worlds – places online where real people interact in real time. Thousands of virtual worlds already exist, some gaming oriented, like Fortnite and Roblox, others more open-ended, like Minecraft and Animal Crossing: New Horizons.

Beyond virtual worlds, the list of metaverse technologies typically includes avatars, nonplayer characters and bots; virtual reality; cryptocurrency, blockchain and non-fungible tokens; social networks from Facebook and Twitter to Discord and Slack; and mobile devices like phones and augmented reality interfaces. Often included as well are principles like interoperability – the idea that identities, friendship networks and digital items like avatar clothes should be capable of moving between virtual worlds.

The problem is that humans don’t categorize by laundry lists. Instead, decades of research in cognitive science has shown that most categories are “radial,” with a central prototype. One could define “bird” in terms of a laundry list of traits: has wings, flies and so on. But the prototypical bird for North Americans looks something like a sparrow. Hummingbirds and ducks are further from this prototype. Further still are flamingos and penguins. Yet all are birds, radiating out from the socially specific prototype. Someone living near the Antarctic might place penguins closer to the center.


This representation of radial categories shows that the prototypical bird for most Americans is a sparrow, and that while ostrich legs are bird parts, they aren’t part of every bird. Credit: Tom Boellstorff

Human creations are usually radial categories as well. If asked to draw a chair, few people would draw a dentist chair or beanbag chair.

The metaverse is a human creation, and the most important step to defining it is to realize it’s a radial category. Virtual worlds are prototypical for the metaverse. Other elements of the laundry list radiate outward and won’t appear in all cases. And what’s involved will be socially specific. It will look different in Alaska than it will in Addis Ababa, or when at work versus at a family gathering.

Whose Idea of Essential?

This matters because one of the most insidious rhetorical moves currently underway is to assert that some optional aspect of the metaverse is prototypical. For instance, many pundits define the metaverse as based on blockchain technology and cryptocurrencies. But many existing virtual worlds use means other than blockchain for confirming ownership of digital assets. Many use national currencies like the U.S. dollar, or metaverse currencies pegged to a national currency.

Another such rhetorical move appears when Clegg uses an image of a building with a foundation and two floors to argue not only that interoperability will be part of “the foundations of the building” but that it’s “the common theme across these floors.”

But Clegg’s warning that “without a significant degree of interoperability baked into each floor, the metaverse will become fragmented” ignores how interoperability isn’t prototypical for the metaverse. In many cases, fragmentation is desirable. I might not want the same identity in two different virtual worlds, or on Facebook and an online game.

The 13-year-old computer game Minecraft lets players build virtual worlds, which makes it a prototypical element of the metaverse.

This raises the question of why Meta – and many pundits – are fixated on interoperability. Left unsaid in Clegg’s essay is the “foundation” of Meta’s profit model: tracking users across the metaverse to target advertising and potentially sell digital goods with maximum effectiveness. Recognizing “metaverse” as a radial category reveals that Clegg’s claim about interoperability isn’t a statement of fact. It’s an attempt to render Meta’s surveillance capitalism prototypical, the foundation of the metaverse. It doesn’t have to be.

Locking in Definitions

This example illustrates how defining the metaverse isn’t an empty intellectual exercise. It’s the conceptual work that will fundamentally shape design, policy, profit, community and the digital future.

Clegg’s essay concludes optimistically that “time is on our side” because many metaverse technologies won’t be fully realized for a decade or more. But as the VR pioneer Jaron Lanier has noted, when definitions about digital technology get locked in they become difficult to dislodge. They become digital common sense.

With regard to the definitions that will be the true foundation of the metaverse, time is emphatically not on our side. I believe that now is the time to debate how the metaverse will be defined — because these definitions are very likely to become our digital realities.


Suggested Reading



The Metaverse is Under Construction, Here’s What is Known

Microstrategy’s Bitcoin Position and the Past, Present, and Future of Crypto





Cathie Wood and the Risk of Trying to Get Someplace Fast

Metaverse: Is the Future Real? – Panel Presentation from NobleCon18

 

Stay up to date. Follow us:

 

Bear Market Wisdom

Posted on by Admin 



Image Credit: Pixabay (Flickr)


Investors Always Have to Play the Cards They’re Dealt

Keeping your cool when faced with options that affect your investments will more likely translate into making better decisions. But often, when a stock goes against us or a bear market takes a bite out of our portfolio, we forget we have options. This could lead to doing nothing, doubling down at the wrong time, or unloading everything for a loss – then swearing we’ll never invest in another stock for as long as we live. Investors do have options; what is important is to look at where you are and not let the change in your portfolio remove good judgment.

Your Own Soft Landing

Investors are looking for ways to shield their portfolios after stocks gave back 10% so far in June alone. This followed a slow erosion throughout the year that amounted to another 10% or more. Just this Monday, the S&P 500 closed more than 20% lower than the highs reached at the start of 2022. Investors have come to define a bear market as a 20% decline from highs that would place us in a bear market. But it gets even more intense, on Wednesday, the Federal Reserve instituted the largest rate increase since 1994 in an attempt to hit the brakes on an economy that has become inflationary. 

Aside from the market which is anticipating the Fed will be successful at creating a slowdown, the market may already be in a recession. First quarter GDP declined by 1.5%, putting us at risk of being in one already the first half of this year. However, Fed Chairman Powell indicated in his statement this week that the economy had accelerated during the second quarter. Concern is still high among investors, economists, business owners, and households about the path of the economy, or more accurately what the path means for them and what they may do now to have their own “soft landing.” There is a lot of fear bordering on panic across all the stakeholders in a healthy economy.

For investors, this elevated fear can cause questionable investment moves. Below are three typical moves investors have made when their once healthy portfolio took a bad turn. Just knowing them and also that others have lived through similar cycles could lead to better thought processes for an investor.

Doing Nothing – The deer in the headlights approach of just watching an oncoming car that may hit it is not uncommon. You want to do something but you’re frozen. For some, this occurs because each time they move to do something, they see signs that conditions may change. With so much going on in any economy, it is always possible to see anything you want to see.

It may make sense for investors that have experienced this to predefine actions they will take if certain events occur. For example, if the stock decreases in value faster than the S&P 500 index over the next week I will sell X.XX%. If the stock outperforms the S&P 500 index in the coming week, I will retain my holding and then watch for the same circumstances the following week.

Having a rules-based system to guide you or show you when your money is not employed in the best place can help prevent indecisiveness.

Hit the Sell Button on Everything – Individual investors tend to sell after an economic downturn is already priced into equity markets. Selling when stocks are 20% cheaper than they had been and below where you were once comfortable buying them locks in your loss. Getting rid of the paper loss allows the investor to not have to worry or watch it anymore. They bite the bullet and deal with it by making it go away. What caused the pain can’t hurt them any longer.

The decision is based more on figuring out how to stop the worry. If the same investor had missed buying the same stocks and was now looking at them down double digits, they may find the positions attractive. But, the red in their account does not allow for the same, clear, less emotionally clouded disposition for decision making.

The solution is to forget about where you bought it and decide if it is the best place for your money within your investment time horizon. If you believe you can get a better return elsewhere, then move. If you think the potential is strong and better than the alternatives, stop worrying about it.

Most humans are wired to have perfect bad timing when investing. They will watch something go up and wish they had bought it. About the time they give in and buy, the stock has peaked. The same happens with selling; when the holding is losing value, people tend to watch and not sell until it is near the end of its decline.

Doubling Down – With a long enough time horizon or a large enough pool of reserves, doubling down in a diversified portfolio has always paid off. However, sometimes it has taken 30 years. In recent history, the recovery time has been much shorter.

If you are looking to add to losing positions, approach with caution, and know, that the reality is you’re looking to find the bottom when the bottom may not be reached for another year. Average in if you can, spread your risk.

Take-Away

Knowing that the market moves in cycles and having faith that this time it is the same as other times helps one have a clear head to make investment decisions going forward.

Simplifying options and making a plan help the thought process and the implementation of investment moves. Any move should be weighed against the risk of inflation eating away at savings, credit card debt costing more than any investment return expectations, and making sure losses are never so big that you don’t have capital set aside for the next long-lived wave upward.

Paul Hoffman

Managing Editor, Channelchek

Suggested Content



Winners and Losers in a Market Capitulation

Is the Bear Market Bull?




Exposure to Non-Travel Leisure Stocks

What Investors Haven’t Yet Noticed About the Value in Some Biotechs


Stay up to date. Follow us: