Page 403 – Channelchek

March’s FOMC Meeting and the Changed Statement

Posted on March 22, 2023March 22, 2023 by phoffman@channelchek.com

The FOMC Remains Highly Attentive to Inflation Risks

The Federal Open Market Committee (FOMC) voted to raise overnight interest rates from a target of 4.50% – 4.75% to the new target of 4.75% – 5.00%. This was announced at the conclusion of the Committee’s March 2023 meeting. The monetary policy shift in bank lending rates after the last meeting had been viewed as certain but recently called into question as the banking system’s health came into question. Some point to the rapid ratcheting of rates as a chief cause of the banking concerns. However, inflation is viewed by the Fed as a problem that can’t be ignored. In fact february’s statement after the meeting made mention of “inflation easing.” This statement shows the Fed left that out and instead provided that inflation, “remains elevated.”

As for the U.S. banking system, which is part of the Federal Reserves responsibility, the FOMC statement reads, the “U.S. banking system remains sound and resilient.”

There were few clues given in the statement about the size of a next move if any. Powell generally shares more thoughts on the matter during a press conference beginning at 2:30 after the statement.

Below are notable excerpts from the announcement of today’s change in monetary policy:

From the Fed Release March 22, 2023

“Recent indicators point to modest growth in spending and production. Job gains have picked up in recent months and are running at a robust pace; the unemployment rate has remained low. Inflation remains elevated.

The U.S. banking system is sound and resilient. Recent developments are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring, and inflation. The extent of these effects is uncertain. The Committee remains highly attentive to inflation risks.

The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 4-3/4 to 5 percent. The Committee will closely monitor incoming information and assess the implications for monetary policy. The Committee anticipates that some additional policy firming may be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time. In determining the extent of future increases in the target range, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. The Committee is strongly committed to returning inflation to its 2 percent objective.

In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals. The Committee’s assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments.”

Take Away

A key phrase in the statement is, “The Committee remains highly attentive to inflation risks.” The Fed is faced with core inflation that has been trending up, despite its historic one-year of aggressively tightening policy.

For investors, higher interest rates can weigh on stocks as companies that rely on borrowing may find their cost of capital has increased. The risk of inflation also weighs heavily on the markets. For stock market investors, they may find that fixed-income investments that pay a known yield may, at some point, be preferred to equities. For these reasons, higher interest rates are of concern to the stock market investor. However, rising rates devalue bond values held in a portfolio, so there are concerns in both markets.

The market has been holding rates down across the curve as the Fed has been working to increase them. There is no indication as to whether this behavior will continue.

Paul Hoffman

Managing Editor, Channelchek

Sources

https://www.federalreserve.gov/newsevents/pressreleases/monetary20230322a.htm

One Place to Look for Low Market Risk with Home Run Potential

Posted on March 22, 2023March 22, 2023 by phoffman@channelchek.com

Less Attention is Being Paid to SPACs, But the Risk Reward Scenario Can’t Be Ignored

Uncertain markets warrant additional attention to risk versus possible reward on investments, especially when the least risky money funds pay 4% or more. This need to minimize risk, yet desire to have the opportunity to, at a minimum, beat inflation and in the best case scenario, hit a grand slam, might cause investors to revisit the hot investment of 2021. Like most investment sectors that do well, back then it became too crowded with issuance and overpromise. But the Special Purpose Acquisition Corp (SPAC), is getting far less attention these days – yet the relatively low risk for investors, and low competition for acquisition corps. to find that “unicorn,” it could increase the percentage of SPAC home runs. All the while limiting potential downside returns.

Special Purpose Acquisition Corps.

Investors that just want to make (or lose) the returns of a major index may not find investing in individual SPACs, at any stage, fits their investment approach. But the SPAC legal structure could suit investors that want to minimize their downside to a more or less known potential, and maximize their possible above average returns – SPACs may match these investment objectives better than alternatives.

Let’s cover risk first. SPAC investors have limited risk as their investment is held in a trust account until the SPAC identifies a target company and completes a merger. If the SPAC fails to identify a target, the investors will return their money, plus today’s higher accrued interest rates, less management, legal, and administrative fees. That is to say, a SPAC purchased as an IPO could be expected to be up or down one or two percent from the initial (usually $10) IPO price.

As ulcer-producing volatility in the major indices over the past year has shown, the feeling of having a floor on losses is comforting. The monetary distance to this floor is reduced if a post SPAC IPO, still looking for a target is trading below the $10 IPO price.

Does low risk mean low returns? SPACs offer the potential for low risk/high returns for investors who get in before an announced target. If the SPAC is successful in identifying and merging with a high-growth company, the share price could increase significantly. The targets often are successful private companies with tremendous potential, more of the potential could be realized with an injection of cash from the SPAC merger/acquisition. that would be able to expand.

What if an investor is opposed to the proposed merger? SPAC investors have the flexibility to decide whether or not to participate in the merger with the target company. If they choose not to participate, they can redeem their shares for the original investment amount plus interest, less administrative costs. This is another way that investors minimize their downside risk.

What are the risks? Investing in SPACs also comes with potential risks, such as the possibility of the SPAC failing to identify a suitable target company, this would essentially have tied up the investment capital used to purchase the SPAC. Another risk is the target company not performing as expected after the merger; as mentioned above, the pre-merger investor gets to decide if they opt in or opt to have pro-rata share of initial investment returned. As with any investment, it’s important to do your due diligence, look at any changes in the regulatory environment, and carefully evaluate the structure and goals.

What Does SPAC Investment Success Look Like?

Not all SPACs find a suitable target. An investor wants the management team exploring possibilities to be diligent and picky. But despite the large number of SPACs that have gone no place during the abundance offered in 2021, it’s easy to find examples of why investors like the market. Below are three very different examples of what success looks like:

In green is Digital World Acquisition Corp. (DWAC). It’s the only stock represented below that is pre-merger. The initial IPO was for $10 back in April 2021. Recent numbers show that a failure to merge with its current target, Trump Media, would result in approximately a $10 per share liquidation. Initial investors will have lost opportunity should this occur as they took the full ride from beginning to this possible end.

In October after the IPO, Digital World announced it had reached a preliminary agreement to merge with the digital media company founded by the former U.S. president. The shares skyrocketed over 900%. For those that bought the once $10 shares for $96, they may not have called this right, for those that purchased around the offer price, their risk of losing money is low, and they currently sit at a 34% profit.

In orange is Hostess (TWNK). This has been a SPAC success story which dates back to 2016 when there were only 13 SPAC IPOs all year. By comparison, there were 613 in 2021, and to date only 8 in 2023. Fewer SPACs chasing the same potential targets could work in investors’ favor. Many of the SPACs that are still less than two year old are still shopping. However most of those arrangements are expected to be returning shareholder funds. While Hostess is up 103% since March three years ago, it has gained 236% since the merger announcement.

Bowlero (BOWL), shown in blue, announced the merger with Isos Acquisition Corp. on July 1, 2021. The merged company would have at first disappointed investors as it dipped slightly. This is understandable as investing in leisure did not seem that it would offer quick gratification, as the pandemic hit this sector hard. However, the stock is up 54% in less than two years and up 58% YTD.

Shown here in purple, DraftKings (DKNG) merged April 24, 2020. Post merger, for those who held the Diamond Eagle Acquisition SPAC shares, they saw the stock jump 5% on the day of the announcement, eventually rise over 350%, and over time come back down to match the initial jump, 6% YTD.

Above are success stories, of varying degrees. There are many SPACs that don’t find the ideal merger partner, for the initial purchasers at $10, or those buying shares sub-$10 after the offering, their risk can be considered lower than the overall market. The potential for large gains, exists.

What Does a SPAC Investment Failure Look Like?

The most an investor will lose in an index fund investment approximates the decline of the index less management fees. The most an investor in any of the individual stocks in a major market index can lose is all of their investment. When an investor takes part in a SPAC IPO or purchases shares trading below the IPO price later, they have claim to funds held in escrow that would have been used for an acquisition. These funds seldom grow or shrink by more than 2%. SPAC investors could look at the risk of losing $2 per share (2%), versus possibly gaining double or triple-digit returns as better than market risk. But investors have lost some of their initial investment, and once the deal is struck, voted on by shareholders, and moves forward, the investment risk goes from very low, to just as risky as any other company traded. In other words, up to 100%.

Take Away

Low-risk and high-reward investments may not suit all portfolios. But for those that like to reduce the odds of loss, the glut of previously offered SPACs that are retiring this year, coupled with the lack of new offerings, could set the stage for easier target hunting for unmatched SPACs. Also, older SPACs trading at or below the enterprise value may be worth looking at, the cash in the escrow accounts are earning today’s yields, and may even be worth more than the share price.

To look for current opportunities of companies that have announced a merger, but not yet completed one, a source of information is Channelchek. Earlier this month, Better World Acquisition Corp. (BWAC) announced it will be merging with Heritage Distilling Co. The combined company expects to trade under the ticker CASK. A current research report detailing the planned acquisition along with valuation is made available here, from Noble Capital Markets.

Paul Hoffman

Managing Editor, Channelchek

Sources

https://www.spacanalytics.com/

https://www.sec.gov/oiea/investor-alerts-and-bulletins/what-you-need-know-about-spacs-investor-bulletin

https://www.bloomberg.com/news/articles/2022-08-15/burst-of-broken-spac-deals-sends-jitters-through-battered-sector#xj4y7vzkg

https://www2.deloitte.com/us/en/pages/audit/solutions/spac-services.html?id=us:2ps:3gl:spacB:awa:aud:050122:ad1:kwd-974274046309:spac%20transactions:p:c&gclid=CjwKCAjwzuqgBhAcEiwAdj5dRnY3WAKMPtIu2aNUS7q8B-gFNclweAQbi3qBjAM19Kua6P_-iN5XzBoCKk0QAvD_BwE

https://www.chase.com/personal/investments/learning-and-insights/article/what-is-a-spac

Release – Motorsport Games to Report Fourth Quarter Of 2022 & Full Year 2022 Financial Results

Posted on March 21, 2023March 21, 2023 by aweinsoff@channelchek.com

Research News and Market Data on MSGM

MARCH 21, 2023

MIAMI, March 21, 2023 (GLOBE NEWSWIRE) — Motorsport Games Inc. (NASDAQ: MSGM) (“Motorsport Games” or the “Company”), a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, will report its financial results for the fourth fiscal quarter of 2022 and full 2022 fiscal year on Friday, March 24, 2023 after market close. Management will host a conference call and webcast on the same day at 5:00 p.m. ET to discuss the results.

Participants may access the live webcast on the Company’s investor relations website at https://ir.motorsportgames.com under “Events.” The call may also be accessed by dialing 1 (877) 407-0784 from the U.S., or by dialing 1 (201) 689-8560 internationally.

About Motorsport Games:
Motorsport Games, a Motorsport Network company, is a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world. Combining innovative and engaging video games with exciting esports competitions and content for racing fans and gamers, Motorsport Games strives to make the joy of racing accessible to everyone. The Company is the officially licensed video game developer and publisher for iconic motorsport racing series across PC, PlayStation, Xbox, Nintendo Switch and mobile, including NASCAR, INDYCAR, 24 Hours of Le Mans and the British Touring Car Championship (“BTCC”), as well as the industry leading rFactor 2 and KartKraft simulations. rFactor 2 also serves as the official sim racing platform of Formula E, while also powering F1 Arcade through a partnership with Kindred Concepts. Motorsport Games is an award-winning esports partner of choice for 24 Hours of Le Mans, Formula E, BTCC, the FIA World Rallycross Championship and the eNASCAR Heat Pro League, among others. Motorsport Games is building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure and every story inspires.

Website and Social Media Disclosure:

Investors and others should note that we announce material financial information to our investors using our investor relations website (ir.motorsportgames.com), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media and blogs, to communicate with our investors and the public about our company and our products. It is possible that the information we post on our websites, social media and blogs could be deemed to be material information. Therefore, we encourage investors, the media and others interested in our company to review the information we post on the websites, social media channels and blogs, including the following (which list we will update from time to time on our investor relations website):

Websites	Social Media
motorsportgames.com	Twitter: @msportgames & @traxiongg
traxion.gg	Instagram: msportgames & traxiongg
motorsport.com	Facebook: Motorsport Games & traxiongg
	LinkedIn: Motorsport Games
	Twitch: traxiongg
	Reddit: traxiongg

The contents of these websites and social media channels are not part of, nor will they be incorporated by reference into, this press release.

Contacts:
Investors:
investors@motorsportgames.com

Media:
pr@motorsportgames.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/305eebf4-97ab-4047-95a6-7169166efd66.

Blockchain Decentralized Organizations are Quietly Growing Behind the Scenes

Posted on March 21, 2023March 21, 2023 by phoffman@channelchek.com

The Evolution of Blockchain Includes the Less Heralded DAO

Less talked about creations that can only exist with blockchain technology are Decentralized Autonomous Organizations (DAO). This is an organization that operates autonomously on a blockchain network, using smart contracts to execute its functions. While a famous Ether hack gave DAO’s a figurative black-eye a few years back, the defi organizations exists and new purposes, and with that new challenges as well.

What is a DAO?

A Decentralized Autonomous Organization (DAO) is a type of organization that is run by smart contracts on a blockchain network rather than a centralized authority. In a DAO, the rules and regulations are encoded in computer code, which is executed automatically by the blockchain network. This means that decisions are made through a decentralized voting process rather than being controlled by a central authority.

DAOs are not controlled by any single entity or individual but rather by a distributed network of users. The DAO will self-execute on rules and directives encoded in the blockchain. All of these decisions and transactions made within a DAO are recorded on a public blockchain, this is designed to make them transparent and auditable.

DAOs can be used for a wide range of applications, including governance, finance, and decentralized applications (DApps). They offer a way for communities to come together and govern themselves in a decentralized and transparent way, without the need for a centralized authority.

The Purpose of a DAO

The purpose of a DAO is to provide a trusted method of organizing and managing a group of people, without the need for a centralized authority. DAOs are designed to be self-governing, transparent, and autonomous. They enable members to collaborate on a common goal, make decisions through a democratic process, and manage resources in a decentralized way. DAOs are often used for fundraising, investing, and community-driven projects.

Examples of DAOs

One of the most well-known examples of a DAO is The DAO, which was launched in 2016. The DAO was a decentralized investment fund that raised $150 million in Ether (the cryptocurrency of the Ethereum network). Unfortunately, The DAO was hacked shortly after its launch, leading to the loss of millions of dollars. This event highlighted the potential risks associated with DAOs and the need for proper security measures.

A more successful example of a DAO is MakerDAO, which is a decentralized lending platform that uses a stablecoin called DAI. MakerDAO enables users to borrow and lend cryptocurrency without the need for a centralized authority. It operates autonomously through a set of smart contracts that are stored on the Ethereum blockchain network.

Who Uses DAOs?

DAOs are typically used by communities, organizations, and individuals such as Decentralized Finance (DeFi). The Defi projects use DAOs to govern the platform and make decisions about its future path and development.

Some gaming communities have used DAOs to manage in-game assets and govern the community. Social media outlets have chosen decentralization and implement a DAO social media platforms use govern the platform and make decisions about content moderation and platform development.

Are DAOs Legal and Safe?

Regarding the safety and legality of DAOs, they can be safe and legal if designed and implemented correctly. However, like any technology, there are risks associated with DAOs, including the potential for hacking and exploitation of smart contracts.

The legality of DAOs depends on the jurisdiction and the specific nature of the DAO. In some countries, there may be regulatory frameworks that apply to DAOs, while in others they may not be explicitly recognized. In general, the local law applies to the DAO. Those that engage in illegal activities or violate securities laws can be subject to legal action. Regulations specifically applicable to this new technological format are subject to revision.

Take Away

Blockchain technology has grown and evolved since the creation of the first DAO, simply called, The DAO, in 2016. The development of new blockchain platforms and smart contract languages has made it easier to create and operate DAOs, and there are now many different types of DAOs being developed for various use cases. The security of blockchain technology has also improved and expanded adoption and adaptation to different groups will rely on the trust of the technology to shield itself from outside harm.

Paul Hoffman

Managing Editor, Channelchek

Sources

https://blockworks.co/news/reevaluating-crypto-journalism-funding

https://www.investopedia.com/tech/what-dao/

https://www.bloomberg.com/news/articles/2020-09-16/a-trip-down-the-crypto-rabbit-hole-in-search-of-the-dao-hacker#xj4y7vzkg

Michael Burry’s Chart Tweet is Worth Understanding

Posted on March 21, 2023March 22, 2023 by phoffman@channelchek.com

To Show Banks at Risk, Michael Burry’s Picture Equals 1000 Words

Michael Burry has a well-deserved reputation for foreseeing approaching crises and positioning his hedge funds to benefit client investors. While he’s most famous for his unique windfall leading to and after the mortgage crisis of 2008-2009, the current banking debacle has him tweeting thoughts most days. His most recent bank-related tweet is worth sharing and, for most investors, needs some explaining.

Recently Burry posted a chart of some large banks and their insured deposit base relative to their Tier 1 capital.

Common Equity Tier 1 Capital (CET1)

To best understand this chart it helps to be aware that for U.S. banks, the definition of Tier 1 capital is set by regulators. It’s an apples to apples measure of a banks’ financial strength and easily used to compare bank peers. Overall it is the bank’s core capital, and helps to understand how well the banks financial infrastructure can absorb losses. It includes equity and retained earnings, as well as certain other qualifying financial instruments.

Unrealized Bank Losses

The sub-prime banking crisis of 2008 is different than what banks are struggling with now. The problem then was created by lax lending practices, including liar loans, floating rate mortgages with teaser rates, significant house flipping using these introductory (teaser) first year rates, and repackaging and selling the debt – often to other banks.

The current issue facing banks today is the prolonged period of rates being held down by monetary policy. Low rates makes for easy money and economic growth, but there is eventually a cost. The cost is overstimulus and inflation, then what is needed to fight inflation, in other words, higher rates.

Higher rates hurt banks in a number of ways. The most calculable is the value of their asssets, including publicly traded fixed rate obligations (Treasuries, MBS, municipal bonds, corporate bonds, other bank marketable CDs) all decline in worth when rates rise. The other way banks get hurt is that loans extend out when rates rise by a significant amount. As a bank customer, this is easy to understand, if you took out a 30-year mortgage two years ago, your rate is between 2.75%-3.50%. If mortgage rates move, as they did to 7%, the prepayment speeds on the loans extend out farther. That is to say fewer borrowers are going to add more to their principal payment each month, and those that may have bought another residence by selling the first and paying the loan off, are staying put. The banks had assigned a historic expected prepayment speed to each loan that represents their region, and the low rate loans are now going to take much longer to repay.

FDIC Insurance

Michael Burry (on assets as described above) used his Bloomberg to chart large bank unrealized losses to the potential for depositors to remove their uninsured deposits. Currently the FDIC is only obligated to insure bank deposits up to $250,000. Customers with deposits in excess of this amount (depending on how registered) leave their excess money at a single bank at their own risk.

It would seem logical for large customers and small, in this environment to check their own risk and bring it to zero.

The Wisdom of the Chart

The further up and to the right banks are on the chart, the more at risk the bank can be considered. This is because uninsured deposits equal more than 60% of liabilities, so prudent customers would move someplace where they are better protected.

However, if depositors do move money out of the banks listed here, the bank would have to either find new deposits, or stand to lose 30% or more by selling assets that are underwater because of rising rates. The banks are currently not easily able to go out into the market and attract money. Partially because we are now in a climate where even basic T-Bill levels would be high for a bank to pay, but also because there is less money supply (M2) in the system.

Take Away

Michael Burry is a worth paying attention to. His communication is often through Twitter, and his tweets are often cryptic without context. His most recent set of tweets, including one commenting on the chart outlines what is happening with a number of banks that find themselves in the unenviable position of ignoring the Fed’s forward guidance on rates and very public inflation data.

Sign-up for free stories daily from Channelchek, along with research and a full calendar of investor events. Sign up here.

Paul Hoffman

Managing Editor, Channelchek

Sources

Cassandra B.C. on Twitter

Channelchek Takeaway Series – PDAC Minerals Exploration & Mining Convention

Posted on March 21, 2023March 28, 2023 by cpatches

Takeaways from PDAC Minerals and Mining Convention

Replays Now Available on Channelchek!

This annual event in Toronto, Canada is known for attracting up to 30,000 attendees from over 130+ countries for its educational programming, networking events, and outstanding business opportunities. Since it began in 1932, the PDAC Convention has grown in size, stature and influence. Today, it is the event of choice for the world’s mineral industry hosting more than 1,100 exhibitors and 2,500 investors.

The Noble team attended meetings, networking events and interviewed c-suite executives. We captured it all on video and featured their collective takeaway exclusively on Channelchek. The next best thing to being there. And at no cost. Replays coming to Channelchek March 28, exclusively for registered members.

Replays are available exclusively to Channelchek members. It’s totally free to join the community, just click the join button at the top of the page.

Agnico Eagle Mines Limited (AEM)

IR Jean-Maire Clouet

Watch the Replay

Release – Aurania Announces Participation In The Channelchek Takeaway Series

Posted on March 20, 2023March 20, 2023 by aweinsoff@channelchek.com

Research News and Market Data on AUIAF

Toronto, Ontario–(Newsfile Corp. – March 20, 2023) – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (“Aurania” or the “Company”) announces its participation in the Channelchek Takeaway Series from the PDAC 2023 Convention, to be broadcast Tuesday, March 21^st starting at 9:45 am ET. Dr. Keith Barron, President & Chief Executive Officer of Aurania, provides a corporate overview, then takes questions from Mark Reichman, Noble Capital Markets’ senior equity analyst.

Mark Reichman attended the PDAC conference and sat down with various c-suite executives. For the Channelchek Takeaway Series, Mark is unpacking what he learned at the conference and talking to a selection of c-suite executives in the mineral exploration & mining space.

Virtual Event and Registration Details
Aurania’s broadcast will start at 11:00 am ET on Tuesday, March 21^st. Investors can virtually attend the Channelchek Takeaway Series at no cost. Registration details are available on Channelchek.

The Prospectors & Developers Association of Canada (PDAC) is the leading voice of the mineral exploration and development community. Representing over 6,000 members around the world, PDAC’s work centers on supporting a competitive, responsible, and sustainable mineral sector.

About Noble Capital Markets
Noble Capital Markets, Inc. was incorporated in 1984 as a full-service SEC / FINRA registered broker-dealer, dedicated exclusively to serving underfollowed small / microcap companies through investment banking, wealth management, trading & execution, and equity research activities. Over the past 37 years, Noble has raised billions of dollars for these companies and published more than 45,000 equity research reports. www.noblecapitalmarkets.com email: contact@noblecapitalmarkets.com

About Channelchek
Channelchek (.com) is a comprehensive investor-centric portal – featuring more than 6,000 emerging growth companies – that provides advanced market data, independent research, balanced news, video webcasts, exclusive c-suite interviews, and access to virtual road shows. The site is available to the public at every level without cost or obligation. Research on Channelchek is provided by Noble Capital Markets, Inc., an SEC / FINRA registered broker-dealer since 1984. www.channelchek.com email: contact@channelchek.com

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 Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.com

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

Release – Entravision Announces New Credit Facility

Posted on March 20, 2023March 20, 2023 by aweinsoff@channelchek.com

Research News and Market Data on EVC

03/20/2023

SANTA MONICA, Calif.–(BUSINESS WIRE)– Entravision (NYSE: EVC), a leading global advertising solutions, media and technology company, today announced that on March 17, 2023 the Company entered into a new $275 million credit facility, consisting of a $200 million term loan A and a $75 million revolving credit facility. Led by Bank of America, Wells Fargo, and J.P. Morgan Chase, the new credit facility replaces the Company’s existing credit facility entered into on November 30, 2017.

“The closing of this facility in this volatile financial market is a testament to the continued financial strength of our Company,” said Chris Young, Interim Chief Executive Officer and Chief Financial Officer of Entravision. “Our new facility extends the maturity of Entravision’s outstanding debt, while at the same time increases the flexibility of our strong balance sheet. We remain well-capitalized as we continue to execute on our long-term strategic plan and show leadership in the global digital media industry.”

Entravision anticipates it will use the proceeds from the new credit facility to fund its working capital needs, acquisitions and other general corporate purposes. Additional details on the new credit facility are outlined in the company’s Current Report on Form 8-K filed today with the Securities and Exchange Commission.

About Entravision

Entravision is a leading global advertising solutions, media and technology company connecting brands to consumers by representing top platforms and publishers. Our dynamic portfolio includes digital, television and audio offerings. Digital, our largest revenue segment, comprises 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 45 primarily Spanish-language radio stations that feature nationally recognized, Emmy award-winning talent. Shares of Entravision Class A Common Stock trade on the NYSE under ticker: EVC. Learn more about our offerings at entravision.com or connect with us on LinkedIn.

Forward-Looking Statements

This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although the company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations, and the company disclaims any duty to update any forward-looking statements made by the company. From time to time, these risks, uncertainties and other factors are discussed in the company’s filings with the Securities and Exchange Commission.

Entravision

Investors:
Christopher T. Young
Interim Chief Executive Officer / Chief Financial Officer
310-447-3870

Kimberly Esterkin
Addo Investor Relations
evc@addo.com
310-829-5400

Source: Entravision

Release – Direct Digital Holdings Expands Executive Team

Posted on March 20, 2023March 20, 2023 by aweinsoff@channelchek.com

Research News and Market Data on DRCT

March 20, 2023 9:00am EDT

Global Marketing Expert Calvin Scharff of Pixalate Joins as Group’s Vice President of Marketing

Information Systems Specialist Michael Ivancic, formerly of EMX, Named Head of Product

HOUSTON, March 20, 2023 /PRNewswire/ — Direct Digital Holdings, Inc. (Nasdaq: DRCT) (“Direct Digital Holdings” or the “Company”), a leading advertising and marketing technology platform operating through its companies Colossus Media, LLC (“Colossus SSP”), Huddled Masses LLC (“Huddled Masses”) and Orange142, LLC (“Orange142”), today announced that two digital media executives will be joining the Company in key roles. Calvin Scharff, who most recently served as Vice President of Global Marketing at Pixalate, is joining as the Company’s first Vice President of Marketing. In tandem, Michael Ivancic, who was previously Product Director of the Exchange at EMX by Big Village, is coming on board in a newly created position, as Direct Digital Holdings’ Head of Product.

“As Direct Digital Holdings and our operating companies continue on a growth trajectory, it is critical to attract top talent into the fold to drive our business further ahead,” said Mark D. Walker, CEO and Co-Founder of Direct Digital Holdings.

While at Pixalate, Calvin Scharff led the release of an industry-first Publisher Trust Index indexing 80 million+ websites, 8 million+ mobile apps, and 60,000+ CTV apps, driving trust and openness to the programmatic ecosystem. He was also responsible for building closed-loop marketing systems that relied on data and insights to successfully improve ROI. Before that, he was Vice President of Product Marketing at OpenX.

In his new post, Scharff will be overseeing the development and implementation of digital marketing and digital lead generation strategies in support of the corporate and business development objectives of Direct Digital Holdings and its subsidiaries. He will be reporting to the Company’s Chief Growth Officer, Maria Vilchez Lowrey.

“With Direct Digital Holdings serving both the buy- and sell-sides of the programmatic ecosystem, our marketing needs to address a multitude of stakeholders,” said Vilchez Lowrey. “Calvin’s track record in leading successful marketing efforts across the digital media landscape will be invaluable as we maximize multichannel marketing efforts to drive customer acquisition and retention.”

At EMX by Big Village, Michael Ivancic owned and developed the product roadmap and strategy for the advertising exchange, programmatic integrations (both supply- and demand-side), Prebid header-bidding adapter, identity solutions, first-party and third-party targeting and internal tooling. Prior, he served as Engineering Manager at Synacor, Inc. and earlier in his career, he held product and development positions at Adiant and Seevast, Inc.

As Head of Product at Direct Digital Holdings, Ivancic will be responsible for creating and implementing product strategy for buy-side and supply-side initiatives. He will report to Anu Pillai, Chief Technology Officer for the Company.

“Michael has a strong background in overseeing a management portfolio of products and a deep understanding of the evolving role that data and audience play in the programmatic market,” said Pillai. “He is going to be a tremendous asset as we drive productization within our various companies to successfully meet the needs of both the buy- and sell-side.”

About Direct Digital Holdings
Direct Digital Holdings (Nasdaq: DRCT), owner of operating companies Colossus SSP, Huddled Masses and Orange 142, brings state-of-the-art sell- and buy-side advertising platforms together under one umbrella company. Direct Digital Holdings’ sell-side platform, Colossus SSP, offers advertisers of all sizes extensive reach within general market and multicultural media properties. The company’s subsidiaries Huddled Masses and Orange142 deliver significant ROI for middle market advertisers by providing data-optimized programmatic solutions at scale for businesses in sectors that range from energy to healthcare to travel to financial services. Direct Digital Holdings’ sell- and buy-side solutions manage approximately 90,000 clients monthly, generating over 100 billion impressions per month across display, CTV, in-app, and other media channels. Direct Digital Holdings is the ninth Black-owned company to go public in the U.S and was named a top minority-owned business by The Houston Business Journal.

Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of federal securities laws, including the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and which are subject to certain risks, trends and uncertainties.

As used below, “we,” “us,” and “our” refer to Direct Digital Holdings. We use words such as “could,” “would,” “may,” “might,” “will,” “expect,” “likely,” “believe,” “continue,” “anticipate,” “estimate,” “intend,” “plan,” “project” and other similar expressions to identify forward-looking statements, but not all forward-looking statements include these words. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements.

All of our forward-looking statements involve estimates and uncertainties that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Our forward-looking statements are based on assumptions that we have made in light of our industry experience and our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. Although we believe that these forward-looking statements are based on reasonable assumptions, many factors could affect our actual operating and financial performance and cause our performance to differ materially from the performance expressed in or implied by the forward-looking statements, including, but not limited to: our dependence on the overall demand for advertising, which could be influenced by economic downturns; any slow-down or unanticipated development in the market for programmatic advertising campaigns; the effects of health epidemics, such as the ongoing global COVID-19 pandemic; operational and performance issues with our platform, whether real or perceived, including a failure to respond to technological changes or to upgrade our technology systems; any significant inadvertent disclosure or breach of confidential and/or personal information we hold, or of the security of our or our customers’, suppliers’ or other partners’ computer systems; any unavailability or non-performance of the non-proprietary technology, software, products and services that we use; unfavorable publicity and negative public perception about our industry, particularly concerns regarding data privacy and security relating to our industry’s technology and practices, and any perceived failure to comply with laws and industry self-regulation; restrictions on the use of third-party “cookies,” mobile device IDs or other tracking technologies, which could diminish our platform’s effectiveness; any inability to compete in our intensely competitive market; any significant fluctuations caused by our high customer concentration; any violation of legal and regulatory requirements or any misconduct by our employees, subcontractors, agents or business partners; any strain on our resources, diversion of our management’s attention or impact on our ability to attract and retain qualified board members as a result of being a public company; our dependence, as a holding company, of receiving distributions from Direct Digital Holdings, LLC to pay our taxes, expenses and dividends; and other factors and assumptions discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Conditions and Results of Operations” and other sections of our filings with the SEC that we make from time to time. Should one or more of these risks or uncertainties materialize or should any of these assumptions prove to be incorrect, our actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and except as required by law, we undertake no obligation to update any forward-looking statement contained in this release to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

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SOURCE Direct Digital Holdings

Released March 20, 2023

Release – Comstock Participates in Channelchek’s Takeaway Series

Posted on March 20, 2023March 20, 2023 by aweinsoff@channelchek.com

Research News and Market Data on LODE

VIRGINIA CITY, NEV., MARCH 20, 2023 – Comstock Inc. (NYSE: LODE) (“Comstock” or the “Company”), today announced their participation in the Channelchek Takeaway Series from the Prospectors & Developers Association of Canada (PDAC) 2023 Mining Convention. The Series will be broadcast on Tuesday, March 21, starting at 9:45 EDT.

Corrado De Gasperis, Comstock’s Executive Chairman & Chief Executive Officer provides an overview of Comstock’s vast mineral holdings, existing gold and silver resources and mineral exploration and discovery plans, including space-based hyperspectral imaging and AI-enabled high precision mineral discovery analytics, and then participates in a question-and-answer session with Mark Reichman.

PDAC is the leading voice of the mineral exploration and development community. Representing over 6,000 members around the world, PDAC’s work centers on supporting a competitive, responsible, and sustainable mineral sector. Mark Reichman, Noble Capital Markets’ senior equity analyst attended the conference and sat down with various c-suite executives. For the Channelchek Takeaway Series, Mark is unpacking what he learned at the conference and talking to a selection of c-suite executives in the mineral exploration & mining space.

The event will be broadcast starting at 9:45 am EDT on Tuesday, March 21. Investors can virtually attend the Channelchek Takeaway Series at no cost. Registration details are available on Channelchek.

About Comstock

Comstock (NYSE: LODE) commercializes innovative technologies that contribute to global decarbonization by efficiently converting under-utilized natural resources, primarily, woody biomass into net zero renewable fuels, end of life metal extraction, and generative AI-enabled advanced materials synthesis and mineral discovery. 

About Noble Capital Markets

Noble Capital Markets, Inc. was incorporated in 1984 as a full-service SEC / FINRA registered broker-dealer, dedicated exclusively to serving underfollowed small / microcap companies through investment banking, wealth management, trading & execution, and equity research activities. Over the past 37 years, Noble has raised billions of dollars for these companies and published more than 45,000 equity research reports. www.noblecapitalmarkets.com email: contact@noblecapitalmarkets.com

About Channelchek

Channelchek (.com) is a comprehensive investor-centric portal – featuring more than 6,000 emerging growth companies – that provides advanced market data, independent research, balanced news, video webcasts, exclusive c-suite interviews, and access to virtual road shows. The site is available to the public at every level without cost or obligation. Research on Channelchek is provided by Noble Capital Markets, Inc., an SEC / FINRA registered broker-dealer since 1984. . www.channelchek.com email: contact@channelchek.com

Forward-Looking Statements 

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future industry market conditions; future explorations or acquisitions; future changes in our exploration activities; future prices and sales of, and demand for, our products; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; and future working capital, costs, revenues, business opportunities, debt levels, cash flows, margins, taxes, earnings and growth. These statements are based on assumptions and assessments made by our management considering their experience and their perception of historical and current trends, current conditions, possible future developments, and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; ability to achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology, quantum computing and advanced materials development, and development of cellulosic technology in bio-fuels and related carbon-based material production; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

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

*Contact information:*
Comstock Inc. P.O. Box 1118 Virginia City, NV 89440 www.comstock.inc	Corrado De Gasperis Executive Chairman & CEO Tel (775) 847-4755 degasperis@comstockinc.com	Zach Spencer Director of External Relations Tel (775) 847-5272 Ext.151 questions@comstockinc.com

Orion Group Holdings (ORN) – 4Q Post Call Commentary

Posted on March 20, 2023March 20, 2023 by cpatches

Monday, March 20, 2023

Joe Gomes, Managing Director – Generalist Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

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

A New Strategic Plan. After being at the Company for six months, CEO Travis Boone and CFO Scott Thanisch released a strategic plan designed to unlock Orion’s full potential for long-term, sustainable growth. While ambitious, we believe the ingredients are in place for a successful outcome.

End Markets Remain Positive. The Marine sector and the Concrete segment both continue to enjoy positive tailwinds. Government money continues to pour into the Marine space, although the associated agencies need to actual award contracts, while population growth in Texas is driving demand for concrete services.

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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

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.

Comstock Inc. (LODE) – Advancing to Commercialization

Posted on March 20, 2023March 20, 2023 by cpatches

Monday, March 20, 2023

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

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

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

A look back at 2022. Last year was a productive year for Comstock. Most importantly, Comstock’s Cellulosic Fuels business commenced production and shipping of bio-intermediate product samples to prospective customers and is advancing licensing agreement discussions with multiple renewable fuel producers. Comstock expanded the leadership of its metals recycling business and received a conditional use permit to operate a universal waste storage facility. Within its mining segment, the company reconsolidated its properties which host measured and indicated resources containing 605,000 and 5,880,000 ounces of gold and silver, respectively, and inferred resources containing 297,000 ounces of gold and 2,572,000 ounces of silver.

Goals for 2023. Executing one or more license agreements associated with its biorefining technologies and commencing development of commercial scale projects remains the most significant revenue opportunity in 2023. Within its mining segment, Comstock expects to publish preliminary economic assessments for the Lucerne and Dayton resource areas. Within its lithium-ion battery recycling segment, the company expects to advance the technology readiness for broader material recycling, including photovoltaics.

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

1·800·Flowers.com, Inc. (FLWS) – Focused on Innovation and Acquisitions

Posted on March 20, 2023February 6, 2024 by cpatches

Monday, March 20, 2023

For more than 45 years, 1-800-Flowers.com has offered truly original floral arrangements, plants and unique gifts to celebrate birthdays, anniversaries, everyday occasions, and seasonal holidays, and to deliver comfort during times of grief. Backed by a caring team obsessed with service, 1-800-Flowers.com provides customers thoughtful ways to express themselves and connect with the most important people in their lives. 1-800-Flowers.com is part of the 1-800-FLOWERS.COM, Inc. family of brands. Shares in 1-800-FLOWERS.COM, Inc. are traded on the NASDAQ Global Select Market, ticker symbol: FLWS.

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

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

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

Highlights from recent NDR. This report highlights investor meetings hosted in Southern Florida last week by Chris McCann, CEO; Tom Hartnett, President; Bill Shea, CFO; and Andy Milevoj, Sr. VP Investor Relations.

On the hunt for acquisitions. The company has made successful acquisitions during uncertain economic times, such as the acquisition of Harry & David in 2014, a year of sluggish economic growth. Management indicated that acquisitions is the best use of cash at this time, which may position the company for enhanced revenue and cash flow growth. Notably, the company indicated that it has always acquired for cash.

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