Joe Gomes, Senior Research Analyst, 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.
Initiation. We are initiating research coverage of Commercial Vehicle Group, Inc. (CVG) with an outperform rating and a $10.00 price target. CVG is in the midst of a business transformation to drive top line revenue and overall margin improvements, with a goal of doubling revenue and increasing adjusted operating margin by 300 basis points by the 2025-2027 time frame.
Attractive End Markets. Long-term prospects for CVG’s key end markets are attractive. Demand for class 8 trucks exceeds supply and, with an aging fleet, is likely to continue. The ongoing switch to electric vehicles is opening a massive opportunity for CVG. And while the warehouse automation vertical is currently challenging, longer term we expect to see significant growth.
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.
Baudax Bio is a pharmaceutical company focused on innovative products for acute care settings. ANJESO is the first and only 24-hour, intravenous (IV) COX-2 preferential non-steroidal anti-inflammatory (NSAID) for the management of moderate to severe pain. In addition to ANJESO, Baudax Bio has a pipeline of other innovative pharmaceutical assets including two novel neuromuscular blocking agents (NMBs) and a proprietary chemical reversal agent specific to these NMBs. For more information, please visit www.baudaxbio.com.
Gregory Aurand, Senior Research Analyst, Healthcare Services & Medical Devices, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Stock split approved at November 3, 2022 shareholder meeting. Shareholders of record September 29, 2022, approved the 1-for-40 stock split. The stock split will become effective for December 1, 2022, Nasdaq trading. The Company’s common stock will also commence trading under a new CUSIP number (07160F404).
Curing the deficiency. Baudax Bio received Nasdaq notice that the minimum $1.00 bid price requirement was not being met and had until January 2, 2023, to cure the issue, unless they sought to obtain an additional 180 days to regain compliance. The reverse split should bring the Company into listing compliance.
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.
Pregnancy is a Genetic Battlefield – How Conflicts of Interest Pit Mom’s and Dad’s Genes Against Each Other
Baby showers. Babymoons. Baby-arrival parties. There are many opportunities to celebrate the 40-week transition to parenthood. Often, these celebrations implicitly assume that pregnancy is cooperative and mutually beneficial to both the parent and the fetus. But this belief obscures a more interesting truth about pregnancy – the mother and the fetus may not be peacefully coexisting in the same body at all.
At the most fundamental level, there is a conflict between the interests of the parent and fetus. While this may sound like the beginning of a thriller, this genetic conflict is a normal part of pregnancy, leading to typical growth and development both during pregnancy and across an individual’s lifetime – something my research focuses on.
However, even though genetic conflict is normal during pregnancy, it can play a role in pregnancy complications and developmental disorders when left unchecked.
This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It represents the research-based findings and thoughts of, Jessica D. Ayers, Assistant Professor of Psychological Science, Boise State University.
What is Genetic Conflict?
Pregnancy is generally thought of as a period when a new individual is created from a unified blend of genes from their parents. But this is not quite right.
The genes a fetus gets from each parent carry slightly different instructions for development. This means there are contrasting and sometimes conflicting blueprints for how to build the new individual. Conflict over which blueprint to follow for fetal growth and development is the essence of the genetic conflict that occurs during pregnancy.
Moms have to use their bodies to help the fetus grow during pregnancy while dads don’t. This means that the genes the fetus inherits from mom have to not only provide for the current fetus, but also try to keep mom alive and healthy and make sure there are resources left over for a potential future pregnancy. These reserves include both biological resources like glucose, protein, iron and calcium, as well as the time and energy needed to help her children after birth as they grow and develop.
Dad’s genes don’t have this same pressure because they don’t use their bodies to help the fetus grow during pregnancy. A dad’s genes, then, don’t need to ensure that anyone other than the current fetus thrives.
To better understand this situation, pretend that all of the resources a mom can give her children come in the form of a milkshake. Once the milkshake runs out, mom has nothing left to give her children. Maternal genes, therefore, want each child to drink only as much as they need to grow and develop. This ensures that the milkshake can be “shared” across all current and future children.
Paternal genes, on the other hand, have no such guarantee of representation in this mother’s other children – the father of the current child may not be the father of the mother’s potential future children. This lack of guaranteed genetic representation means there is no pressure on the father to “share” the milkshake. The best strategy when it comes to paternal genes, then, is for the fetus to drink as much of the milkshake as they can.
These two strategies play a figurative game of tug of war throughout pregnancy. Both sides are trying to pull fetal development slightly more toward their side. Paternal genes encourage the fetus to grow and develop quickly and take more resources, while maternal genes encourage the fetus to grow and use only what’s necessary for proper development. Conflict over how deeply the embryo implants in the uterus and how quickly the placenta and fetus grow are just a few areas where researchers have documented this tug of war during pregnancy.
The milkshake problem helps researchers determine where to look for genetic conflict by simplifying where trade-offs may take place during pregnancy. Because fetal growth is at the heart of genetic conflict, researchers have focused on processes where conflict over resource transfers from mother to fetus can be observed. These investigations have found that the placenta, a fetal organ responsible for all resource transfers during pregnancy, is dominated by paternally-expressed genes. It releases paternally-derived insulin-like growth factors that make mom less sensitive to her own insulin and hormones that increase maternal blood pressure, both of which ultimately increase the amount of resources the fetus can use to grow during pregnancy but have the potential to harm the mother’s health.
Genetic Conflict and Pregnancy Complications
If genetic conflict goes uncontrolled, it can cause pregnancy complications for the mother and developmental disorders for the child. In fact, there is a growing consensus among researchers that some of the most well-known pregnancy complications like preeclampsia, gestational diabetes, miscarriages and preterm births may best be explained by unchecked genetic conflict.
Despite the potential role that genetic conflict plays in pregnancy complications, current medical treatments are reactive rather than proactive. A pregnant person must show signs of experiencing complications before medical interventions and treatments can take place.
Knowing how unchecked genetic conflict contributes to pregnancy complications could provide researchers another way to develop treatments that are proactive and, ideally, preventive. However, there are currently no treatments for pregnancy complications that consider genetic conflict. Though gestational diabetes can be attributed to underlying genetic conflict, a pregnant person must present with elevated blood sugar levels before doctors can treat underlying conflict over insulin production and blood sugar.
Pregnancy During the COVID-19 Pandemic has Been Challenging for Many
The experiences of pregnant people during the COVID-19 pandemic provide an example of why more research on genetic conflict is needed. During the pandemic, doctors saw both a dramatic decrease in the number of preterm births as well as an increase in the number of stillbirths and miscarriages. Both types of complications are influenced by genetic conflict, but the reasons behind these opposing trends are unclear.
As a woman who was pregnant early in the pandemic, my pregnancy was scary and stressful, spent at home away from the pressures of “normal” life. More research on the complex process of pregnancy and genetic conflict’s role in complications could help researchers better understand how the changes brought by the pandemic produced such wildly different pregnancy outcomes.
Patients Suffering with Hard-to-Treat Depression May Get Relief from Noninvasive Magnetic Brain Stimulation
Not only is depression a debilitating disease, but it is also widespread. Approximately 20 million adult Americans experience at least one episode of depression per year.
Millions of them take medication to treat their depression. But for many, the medications don’t work: Either they have minimal or no effect, or the side effects are intolerable. These patients have what is called treatment-resistant depression.
One promising treatment for such patients is a type of brain stimulation therapy called transcranial magnetic stimulation.
This treatment is not new; it has been around since 1995. The U.S. Food and Drug Administration cleared transcranial magnetic stimulation in 2008 for adults with “non-psychotic treatment-resistant depression,” which is typically defined as a failure to respond to two or more antidepressant medications. More recently, in 2018, the FDA cleared it for some patients with obsessive-compulsive disorder and smoking cessation.
Insurance generally covers these treatments. Both the psychiatrist and the equipment operator must be certified. While the treatment has been available for years, the equipment to perform the procedure remains expensive enough that few private psychiatry practices can afford it. But with the growing recognition of the potential of transcranial magnetic stimulation, the price will likely eventually come down and access will be greatly expanded.
Does it Work?
Transcranial magnetic stimulation is a noninvasive, pain-free procedure that has minimal to no side effects, and it often works. Research shows that 58% of once treatment-resistant patients experience a significant reduction in depression following four to six rounds of the therapy. More than 40 independent clinical trials – with more than 2,000 patients worldwide – have demonstrated that repetitive transcranial magnetic stimulation is an effective therapy for the treatment of resistant major depression.
This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It represents the research-based findings and thoughts of Patricia Junquera, Associate Professor and Vice Chair of Clinical Services, Florida International University.
As a professor and psychiatrist who has used transcranial magnetic stimulation to treat some of my patients, I have seen depression symptoms decrease even within the first two weeks of treatment. What’s more, the effects continue after the treatment has ended, typically for six months to a year. After that, the patient has the option of maintenance treatment.
About the Procedure
For the patient, the procedure is easy and simple. One sits in a comfortable chair with a snug pillow that holds their head in place, puts on earplugs and can then relax, check their phone, watch TV or read a book.
A treatment coil, which looks like a figure 8, is placed on the patient’s head. A nearby stimulator sends an electrical current to the coil, which transforms the current into a magnetic field.
The field, which is highly concentrated, turns on and off rapidly while targeting a portion of the prefrontal cortex – the area of the brain responsible for mood regulation.
Researchers know that people suffering from depression have reduced blood flow and less activity in that part of the brain. Transcranial magnetic stimulation causes increases in both blood flow and in the levels of dopamine and glutamate – two neurotransmitters that are responsible for brain functions like concentration, memory and sleep. It’s the repeated stimulation of this area – the “depression circuit” of the brain – that brings the antidepressant effect.
It is Not ‘Electroshock’ or Deep Brain Stimulation
Some people confuse transcranial magnetic stimulation with electroconvulsive therapy, a procedure used for patients with severe depression or catatonia. With electroshock therapy, the anesthetized patient receives a direct electrical current, which causes a seizure. Typically, people who undergo this procedure experience some memory loss after treatment.
Transcranial magnetic stimulation is very different. It doesn’t require anesthesia, and it doesn’t affect memory. The patient can resume daily activities right after each treatment. Dormant brain connections are reignited without causing a seizure.
It should also not be confused with deep brain stimulation, which is a surgical procedure used to treat obsessive-compulsive disorder, tremors, epilepsy and Parkinson’s disease.
Side Effects and Access
Transcranial magnetic stimulation patients undergo a total of 36 treatments, at 19 minutes each, for three to six weeks. Research has concluded that this is the best protocol for treatment. Some patients report that it feels like someone is tapping on their head. Others don’t feel anything.
Some very minor side effects may occur. The most common is facial twitching and scalp discomfort during treatment, sensations that go away after the session ends. Some patients report a mild headache or discomfort at the application site. Depending on how effective the therapy was, some patients return for follow-ups every few weeks or months. It can be used in addition to medications, or with no medication at all.
Not everyone with depression can undergo this type of brain stimulation therapy. Those with epilepsy or a history of head injury may not qualify. People with metallic fillings in their teeth are OK for treatment, but others with implanted, nonremovable metallic devices in or around the head are not. Those with pacemakers, defibrillators and vagus nerve stimulators may also not qualify, because the magnetic force of the treatment coil may dislodge these devices and cause severe pain or injury.
But for those who are able to use the therapy, the results can be remarkable. For me, it is amazing to see these patients smile again – and come out on the other side feeling hopeful.
DALLAS, Nov. 30, 2022 (GLOBE NEWSWIRE) — RedChip Companies will air a new interview with Permex Petroleum Corporation (CSE: OIL) (OTCQB: OILCD) (FSE: 75P) (“Permex” or the “Company”), an independent energy company engaged in the acquisition, exploration, development, and production of oil and natural gas properties on private, state, and federal land in the United States, on The RedChip Money Report® on Bloomberg TV, this Saturday, December 3, at 7 p.m. Eastern Time (ET). Bloomberg TV is available in an estimated 73 million homes across the U.S.
Interview highlights:
In the exclusive RedChip Money Report interview, Permex Petroleum’s CEO, President, and Director Mehran Ehsan discusses the Company’s 78 oil and gas wells, the recompletion of oil and gas wells in Eddy County, New Mexico and Marin County, Texas, the Company’s acquisition strategy, and much more.
The RedChip Money Report® is produced by RedChip Companies Inc., an international Investor Relations and media firm with 30 years’ experience focused on Discovering Tomorrow’s Blue Chips Today™. “The RedChip Money Report®” delivers insightful commentary on small-cap investing, interviews with Wall Street analysts, financial book reviews, as well as featured interviews with executives of public companies.
About Permex Petroleum Corporation
Permex Petroleum is a uniquely positioned junior oil and gas company with assets and operations across the Permian Basin of West Texas and the Delaware Sub-Basin of New Mexico. The Company focuses on combining its low-cost development of Held by Production assets for sustainable growth with its current and future Blue-Sky projects for scale growth. The Company, through its wholly-owned subsidiary, Permex Petroleum US Corporation, is a licensed operator in both states, and owns and operates on private, state and federal land. For more information, please visit www.permexpetroleum.com.
About RedChip Companies
RedChip Companies, an Inc. 5000 company, is an international investor relations, media, and research firm focused on microcap and small-cap companies. For 30 years, RedChip has delivered concrete, measurable results for its clients. Our newsletter, the RedChip Money Report is delivered online weekly to 60,000 investors. RedChip has developed the most comprehensive service platform in the industry for microcap and small-cap companies. These services include the following: a worldwide distribution network for its stock research; retail and institutional roadshows in major U.S. cities; outbound marketing to stock brokers, RIAs, institutions, and family offices; a digital media investor relations platform that has generated millions of unique investor views; investor webinars and group calls; a television show, “The RedChip Money Report,” which airs weekly on Bloomberg US; TV commercials in local and national markets; corporate and product videos; website design; and traditional investor relation services, which include press release writing, development of investor presentations, quarterly conference call script writing, strategic consulting, capital raising, and more.
To learn more about RedChip’s products and services, please visit:
Statements in this press release may constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995 and other federal securities laws as well as applicable Canadian securities laws. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of performance and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in Company’s reports that it files from time to time with the U.S. Securities and Exchange Commission and the Canadian securities regulators which you should review. When used in this press release, words such as “will,” “could,” “plan,” “estimate”, “expect”, “intend”, “may”, “potential”, “believe”, “should” and similar expressions, are forward-looking statements. Forward-looking statements may include, without limitation, statements relating to the Company’s plans to list on NYSE American, financial condition and operating results, legal, economic, business, competitive and/or regulatory factors affecting Permex’s businesses and any other statements regarding events or developments Permex believes or anticipates will or may occur in the future. These forward-looking statements should not be relied upon as predictions of future events, and the Company cannot assure you that the events or circumstances discussed or reflected in these statements will be achieved or will occur. If such forward-looking statements prove to be inaccurate, the inaccuracy may be material. You should not regard these statements as a representation or warranty by the Company or any other person that it will achieve its objectives and plans in any specified timeframe, or at all. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any obligation to publicly update or release any revisions to these forward- looking statements, whether as a result of new information, future events or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law.
Contact:
Permex Petroleum Corporation
Mehran Ehsan President, Chief Executive Officer & Director (469) 804-1306
Gregory Montgomery CFO & Director (469) 804-1306
Or for Investor Relations, please contact:
Dave Gentry RedChip Companies Inc. 1-800-RED-CHIP (733-2447) Or 407-491-4498 OILCF@redchip.com
TROY, Mich., Nov. 30, 2022 /PRNewswire/ — Kelly (Nasdaq: KELYA, KELYB), a leading specialty talent solutions provider, today announced it will participate in the Sidoti Virtual Investor Conference on Wednesday, December 7, 2022.
Peter Quigley, president and CEO, Olivier Thirot, executive vice president and chief financial officer, and James Polehna, chief investor relations officer and corporate secretary, will participate in virtual one-on-one meetings. A copy of Kelly’s investor presentation is also available at kellyservices.com.
About Kelly®
Kelly Services, Inc. (Nasdaq: KELYA, KELYB) connects talented people to companies in need of their skills in areas including Science, Engineering, Education, Office, Contact Center, Light Industrial, and more. We’re always thinking about what’s next in the evolving world of work, and we help people ditch the script on old ways of thinking and embrace the value of all workstyles in the workplace. We directly employ more than 350,000 people around the world, and we connect thousands more with work through our global network of talent suppliers and partners in our outsourcing and consulting practice. Revenue in 2021 was $4.9 billion. Visit kellyservices.com and let us help with what’s next for you.
Research Being Conducted in Collaboration with Scientists at Columbia University
SARS-CoV-2 Variants have Evaded Antibody Therapeutics Previously Granted FDA Emergency Use Authorization, but which are No Longer Recommended for Use by the NIH COVID-19 Guidelines Panel
Immunocompromised Individuals, Including Organ Transplant Recipients, are at Increased Risk of Severe COVID-19 and Poor Outcomes
Therapeutic Antibody Platform Leverages Tonix’s Expanding Internal Development and Manufacturing Capabilities for Biologics
CHATHAM, N.J., Nov. 30, 2022 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP), a clinical-stage biopharmaceutical company, today announced data from its fully human anti-SARS-CoV-2 monoclonal antibody platform in an oral presentation delivered by Seth Lederman, M.D., Chief Executive Officer of Tonix Pharmaceuticals, at the World Antiviral Congress 2022 in San Diego, Calif. The project is part of a broader research collaboration and option agreement with scientists at Columbia University designed to fill in important gaps in understanding the detailed immune responses to COVID-19, and to provide a foundation upon which to target vaccines and therapeutics to appropriate individuals by precision medicine. A copy of the presentation is available under the Scientific Presentations tab of the Tonix website at www.tonixpharma.com.
The presentation titled, “Platform for Generating Fully Human anti-SARS-CoV-2 Spike Therapeutic Monoclonal Antibodies” highlights the need for a broad array of monoclonal antibodies (mAbs) which can be scaled up quickly and potentially combined with other mAbs to treat or prevent COVID-19.
“We believe that the development of these fully human mAbs strengthens our pipeline of next-generation therapeutics to treat Covid-19,” said Seth Lederman, M.D., Chief Executive Officer of Tonix Pharmaceuticals. “Immunocompromised individuals, including organ transplant recipients, are at increased risk of severe COVID-19 and bad outcomes1. Although five mAb products, containing 7 distinct mAbs, have received emergency use authorization (EUA) from the U.S. Food and Drug Administration (FDA) for either treatment or prophylaxis of COVID-19, only a single product, Evushield® is still recommended for use as a prophylaxis by the NIH COVID Guidelines panel or FDA2,3. Moreover, concerns have been raised about the ongoing ability of Evushield to serve as a prophylaxis against COVID-19 in the face of new variants4. For these reasons, we believe there is a need for second generation mAb treatments and prophylactics for COVID-195. Generating fully human mAbs starting from recovered patient blood samples has the potential to reduce the time required to create novel therapeutics in response to newly identified COVID-19 variants.”
Ilya Trakht, Ph.D., Associate Research Scientist at Columbia and principal investigator of the sponsored research agreement said, “We are excited to work with Tonix because of their commitment to developing therapeutics to COVID-19. As new variants emerge, anti-spike mAbs that were highly effective against older variants of SARS-CoV-2, may quickly lose their place in the treatment landscape. To protect immunocompromised people, we are committed to assembling a diverse inventory of monoclonal antibodies to keep pace with circulating mix of SARS-CoV-2 variants. Our proprietary technology is based on CD40-ligand promoted B-cell expansion and the MFP-2S human hybridoma system”
Seth Lederman added, “This potential therapeutic antibody platform leverages our expanding internal development and manufacturing capabilities for biologics.”
1Haidar G, Mellors JW. Improving the Outcomes of Immunocompromised Patients With Coronavirus Disease 2019. Clin Infect Dis. 2021;73(6):e1397-e1401. Doi:10.1093/cid/ciab397
Tonix is a clinical-stage biopharmaceutical company focused on discovering, licensing, acquiring and developing therapeutics to treat and prevent human disease and alleviate suffering. Tonix’s portfolio is composed of central nervous system (CNS), rare disease, immunology and infectious disease product candidates. Tonix’s CNS portfolio includes both small molecules and biologics to treat pain, neurologic, psychiatric and addiction conditions. Tonix’s lead CNS candidate, TNX-102 SL (cyclobenzaprine HCl sublingual tablet), is in mid-Phase 3 development for the management of fibromyalgia with a new Phase 3 study launched in the second quarter of 2022 and interim data expected in the second quarter of 2023. TNX-102 SL is also being developed to treat Long COVID, a chronic post-acute COVID-19 condition. Tonix initiated a Phase 2 study in Long COVID in the third quarter of 2022 and expects interim data in the second quarter of 2023. TNX-1300 (cocaine esterase) is a biologic designed to treat cocaine intoxication and has been granted Breakthrough Therapy designation by the FDA. A Phase 2 study of TNX-1300 is expected to be initiated in the first quarter of 2023. TNX-1900 (intranasal potentiated oxytocin), a small molecule in development for chronic migraine, is expected to enter the clinic with a Phase 2 study in the fourth quarter of 2022. TNX-601 ER (tianeptine hemioxalate extended-release tablets) is a once-daily formulation of tianeptine being developed as a potential treatment for major depressive disorder (MDD) with a Phase 2 study expected to be initiated in the first quarter of 2023. Tonix’s rare disease portfolio includes TNX-2900 (intranasal potentiated oxytocin) for the treatment of Prader-Willi syndrome. TNX-2900 has been granted Orphan Drug designation by the FDA. Tonix’s immunology portfolio includes biologics to address organ transplant rejection, autoimmunity and cancer, including TNX-1500, which is a humanized monoclonal antibody targeting CD40-ligand (CD40L or CD154) being developed for the prevention of allograft and xenograft rejection and for the treatment of autoimmune diseases. A Phase 1 study of TNX-1500 is expected to be initiated in the first half of 2023. Tonix’s infectious disease pipeline consists of a vaccine in development to prevent smallpox and monkeypox, next-generation vaccines to prevent COVID-19, and a platform to make fully human monoclonal antibodies to treat COVID-19. TNX-801, Tonix’s vaccine in development to prevent smallpox and monkeypox, also serves as the live virus vaccine platform or recombinant pox vaccine (RPV) platform for other infectious diseases. A Phase 1 study of TNX-801 is expected to be initiated in Kenya in the first half of 2023. Tonix’s lead vaccine candidate for COVID-19 is TNX-1850, a live virus vaccines based on Tonix’s recombinant pox live virus vector vaccine platform.
*All of Tonix’s product candidates are investigational new drugs or biologics and have not been approved for any indication.
This press release and further information about Tonix can be found at www.tonixpharma.com.
Forward Looking Statements
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-looking statements are based on Tonix’s current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks related to the failure to obtain FDA clearances or approvals and noncompliance with FDA regulations; delays and uncertainties caused by the global COVID-19 pandemic; risks related to the timing and progress of clinical development of our product candidates; our need for additional financing; uncertainties of patent protection and litigation; uncertainties of government or third party payor reimbursement; limited research and development efforts and dependence upon third parties; and substantial competition. As with any pharmaceutical under development, there are significant risks in the development, regulatory approval and commercialization of new products. Tonix does not undertake an obligation to update or revise any forward-looking statement. Investors should read the risk factors set forth in the Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Exchange Commission (the “SEC”) on March 14, 2022, and periodic reports filed with the SEC on or after the date thereof. All of Tonix’s forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof.
Vancouver, British Columbia, November 29, 2022 – Garibaldi Resources (TSXV: GGI) (the “Company” or “Garibaldi”) is pleased to announce a non-brokered private placement (the “Offering”) of up to 10,000,000 flow-through units (each, a “FT Unit”) at a price of $0.30 per FT Unit for gross proceeds of up to CDN $3.0 million and 4,000,000 non-flow-through units (each, a “Unit”) at a price of $0.25 per Unit for gross proceeds of up to CDN $1.0 million.
Each FT Unit will consist of one common share of the Company issued on a “flow-through” basis pursuant to the Income Tax Act (Canada) and one-half of one common share purchase warrant (each whole warrant, a “FT Warrant”), with each FT Warrant entitling the holder to purchase one common share (on a non-flow-through basis) at a price of $0.45 per common share for a period of three years following the closing of the Offering.
Each Unit will consist of one common share of the Company (on a non-flow-through basis) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant entitling the holder to purchase one common share (on a non-flow-through basis) at a price of $0.40 per common share for a period of three years following the closing of the Offering.
All of the proceeds from the offering of FT Units will be used to further advance Garibaldi’s 100% owned flagship E&L nickel-copper-cobalt project on Nickle Mountain and other British Columbia properties. All proceeds from the offering of Units will be used for working capital purposes.
All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. The Offering may include finder’s fees commission’s payable in cash and/or securities and is subject to approval of the TSX Venture Exchange (the “Exchange”). Insiders may participate in the Offering. Any participation by insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 – Protection of MinoritySecurity Holders in Special Transactions (“MI 61-101”) but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Garibaldi
Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in British Columbia and Mexico.
GARIBALDI RESOURCES CORP.
Per: “Steve Regoci” Steve Regoci, President
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the expectations of management regarding the proposed Offering, the expectations of management regarding the use of proceeds of the Offering, closing conditions for the Offering, the expiry of hold periods for securities distributed pursuant to the Offering, and Exchange approval of the proposed Offering. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including that: the Company may not complete the Offering on terms favorable to the Company or at all; the Exchange may not approve the Offering; the proceeds of the Offering may not be used as stated in this news release; the funds raised from the sale of the FT Units and the Units may not be renounced in favour of the shareholders of the Company; the Company may be unable to satisfy all of the conditions to the Closing; and those additional risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply 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. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Travelzoo® provides its 30 million members with exclusive offers and one-of-a-kind experiences personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with more than 5,000 top travel suppliers—our long-standing relationships give Travelzoo members access to irresistible deals.
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.
Attractive merger. On November 25, 2022, the company entered into a stock purchase agreement with Azzurro Capital Inc, the company’s current largest shareholder. Travelzoo will issue 3.41 million shares in exchange for $10 million and Metaverse Travel Experiences (MTE), a fully owned subsidiary of Azzurro. Following the merger, Azzurro will own slightly more than 50% of the outstanding shares. Assuming shareholder approval, the transaction should close by year end.
Terms of the deal. The $10 million can be paid in a combination of cash and promissory notes, at the election of Azzurro. There must be a minimum of $2 million in cash received at the time of closing. The remaining $8 million would be in secured promissory notes that would be repaid in two installments, March and June of 2023. The structure of the deal should allow Travelzoo to absorb the significant NOLs of the acquired company.
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*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.
Engine Gaming and Media, Inc. (NASDAQ:GAME) (TSX-V:GAME) provides premium social sports and esports gaming experiences, as well as unparalleled data analytics, marketing, advertising, and intellectual property to support its owned and operated direct-to-consumer properties, while also providing these services to enable its clients and partners. The company’s subsidiaries include Stream Hatchet, the global leader in gaming video distribution analytics; Sideqik, a social influencer marketing discovery, analytics, and activation platform; WinView Games, a social predictive play-along gaming platform for viewers to play while watching live events; and Frankly Media, a digital publishing platform used to create, distribute and monetize content across all digital channels. Engine Media generates revenue through a combination of direct-to-consumer fees, streaming technology and data SaaS-based offerings, and programmatic advertising. For more information, please visit www.enginegaming.com.
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.
Q4 results. The company reported quarterly revenue of $11.5 million, ahead of our estimate of $9.5 million. An adj. EBITDA loss of $4.0 million was in line with our expectations, illustrated in Figure #1 Q4 Variance. Q4 punctuated a year in which the company’s Advertising and SaaS businesses grew 29% and 16%, respectively.
Strong advertising revenue. Advertising revenue grew 29% sequentially to $9 million in the quarter, on the back of strong CPMs and RPMs. Management noted that CPM and RPM growth was 30% in 2022. The Advertising revenue growth is particularly noteworthy given the challenging economic environment.
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 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.
“By Any Standard Inflation Remains Much Too High,” Says Powell
The Federal Reserve has a blackout period for its governors. It begins the second Saturday preceding an FOMC meeting. During this period the members cannot give any sort of public address on topics that will be under consideration at the Committee meeting. Today, Fed Chair Powell gave an address titled, Inflation and the Labor Market. These are the two missions of the Fed. This address may be the last the markets hear from Powell until after the December 14th FOMC session.
The stock and bond markets were hoping to hear that the Fed will be backing off significantly. Instead, what was delivered by Powell was more consistent with his previous talks which don’t back away from full commitment to bringing down prices. Although he did suggest that they have covered the bulk of the ground, they will need to.
Current Status
Powell referred to the address given on the last day of November 2022 as a “progress report on the Federal Open Market Committee’s (FOMC) efforts to restore price stability to the U.S. economy for the benefit of the American people.” The report made mention several times that a healthy economy with ample job growth consistent with inflation targets is consistent with low price inflation. In fact Powell lead with the words, “the report must begin by acknowledging the reality that inflation remains far too high.”
Powell said that he and other Fed governors are “acutely aware that high inflation is imposing significant hardship, straining budgets and shrinking what paychecks will buy.” He continued, “price stability is the responsibility of the Federal Reserve and serves as the bedrock of our economy. Without price stability, the economy does not work for anyone. In particular, without price stability, we will not achieve a sustained period of strong labor market conditions that benefit all.”
Inflation
Powell said that 12-month personal consumption expenditures (PCE) inflation through October ran at 6.0 percent (figure 1). While October inflation data received so far showed a welcome surprise to the downside. He cautioned that “these are a single month’s data, which followed upside surprises over the previous two months. As figure 1 makes clear, down months in the data have often been followed by renewed increases.” Powell said. He reminded that, “it will take substantially more evidence to give comfort that inflation is actually declining. By any standard, inflation remains much too high.”
In order to reach the Fed’s goal, Powell says they need to raise interest rates to a sufficiently restrictive level to return inflation to 2 percent. He relents that there is considerable uncertainty about what rate will be sufficient. Although he says they are much closer now than at the beginning of the year.
Powell said of himself and his associates, “we are tightening the stance of policy in order to slow growth in aggregate demand. Slowing demand growth should allow supply to catch up with demand and restore the balance that will yield stable prices over time. Restoring that balance is likely to require a sustained period of below-trend growth.”
Housing Prices
The rise in the price of all rents and the rise in the rental-equivalent cost of owner-occupied housing is called housing services inflation. Unlike goods inflation, housing services inflation has continued to rise and now stands at 7.1 percent over the past 12 months, according to Powell. Housing inflation tends to lag other prices around inflation turning points, but because of the slow rate at which the stock of rental leases turns over. The market rate on new leases is a timelier indicator of where overall housing inflation will go over the next year or so. Measures of 12-month inflation in new leases rose to nearly 20 percent during the pandemic but have been falling sharply since about midyear (figure 3).
As the above chart shows, overall housing services inflation has continued to rise as existing leases turn over and jump in price to catch up with the higher level of rents for new leases. Powell thinks this is likely to continue well into next year. But as long as new lease inflation keeps falling, we would expect housing services inflation to begin falling sometime next year. Importantly, a decline in this inflation underlies most forecasts of declining inflation.
Labor costs is the largest of the three inflation categories covered in Powell’s address. It represents more than half of the core PCE index. Powell used it to explain the future evolution of core inflation.
Chair Powell said, “ [the] demand for workers far exceeds the supply of available workers, and nominal wages have been growing at a pace well above what would be consistent with 2 percent inflation over time. Thus, another condition we are looking for is the restoration of balance between supply and demand in the labor market.”
The Fed Chair said some of the labor force participation gap can be explained as workers who are still out of the labor force because of Covid related issues. But recent research by Fed economists finds that the participation gap is now mostly due to excess retirements—that is, retirements in excess of what would have been expected from population aging alone.
Economic Conditions Summed Up
In order to bring inflation down to 2%, the Fed Chair said he was happy that growth in economic activity has slowed. Also that bottlenecks in goods production are easing and goods price inflation appears to be easing as well. Housing services inflation will probably keep rising well into next year, but if inflation on new leases continues to fall, we will likely see housing services inflation begin to fall later next year. Finally, the labor market, which is especially important for inflation in core services ex housing, shows only tentative signs of rebalancing, and wage growth remains well above levels that would be consistent with 2 percent inflation over time. Despite some promising developments, we have a long way to go in restoring price stability.
Monetary Policy
Powell said in his address, “returning to monetary policy, my FOMC colleagues and I are strongly committed to restoring price stability. After our November meeting, we noted that we anticipated that ongoing rate increases will be appropriate in order to attain a policy stance that is sufficiently restrictive to move inflation down to 2 percent over time.”
He admitted that monetary policy affects the economy and inflation with uncertain lags, and the full effects of rapid tightening are yet to be felt. With this, he says it makes sense to moderate the pace of the rate increases.
Powell said, “The time for moderating the pace of rate increases may come as soon as the December meeting. Given our progress in tightening policy, the timing of that moderation is far less significant than the questions of how much further we will need to raise rates to control inflation and the length of time it will be necessary to hold policy at a restrictive level. It is likely that restoring price stability will require holding policy at a restrictive level for some time. History cautions strongly against prematurely loosening policy. We will stay the course until the job is done.”
The Odds May Again be Stacked on the Side of a Prolonged Oil Price Rally
Oil markets and the related energy industry have been cheered this year as the one clear winner, yet within the past few days, crude has brushed up against its low recorded at the start of 2022. The commodity has since bounced, and there are at least four reasons to believe that it will continue to rally.
On Wednesday, November 30, news that China will take steps to ease lockdown restrictions, a drop in U.S. oil supplies, a weaker U.S. dollar, and a signal of OPEC+’s intentions helped push crude prices up by more than 3.5%.
China
Major Chinese manufacturing cities are lifting Covid lockdowns, including the financial hub Shanghai and Zhengzhou (the location of the world’s largest iPhone factory). Renewed expectations that China’s economy may strengthen after being held back by restrictions on movement to contain Covid-19 helped lift prices. After lockdown protests last weekend, Chinese authorities reported fewer cases of the virus on Tuesday. Guangzhou, a city in the south of the country, relaxed some rules on Wednesday. Increased economic activity in China could come at a pace that dramatically increases the demand for oil and related products.
US Supply
U.S. petroleum stockpiles declined by 7.9 million barrels last week, according to reports from the American Petroleum Institute. Official figures from the U.S. Energy Information Administration (EIA) shown below indicate a declining trend that is unsustainable and will soon need to be turned around.
Source: EIA
The decline in the days supply is effectively borrowing against future stockpiles as there will need to be a time when this reverses, and more output-increasing stockpiles will add to demand on production.
U.S. Dollar
A weakening dollar has also helped enhance demand globally for crude by making contracts priced in the U.S. currency more affordable for overseas buyers. The dollar index, a measure of strength against a basket of six other major trading currencies, slipped 0.3% on Wednesday. It’s down about 5% in the past month.
While the effect of this FX change may not be felt by U.S. buyers, the added demand by requiring less local currency to translate into dollars effectively creates demand by virtue of its lower cost.
Source: Koyfin
OPEC+
The Saudis had been considering increasing their output to help soften price pressures and increase availability. This would occur when the cartel meets this weekend to decide output levels. It is reported that the meeting will not be in-person. When OPEC+ agrees to meet virtually, it tends to indicate they are not discussing any major changes to output targets.
Expectations of an increase in output had been built into the price; the new expectations are putting upward pressure on crude.
Take Away
A number of factors have caused crude to trade off since late Spring. A number of forces are now stacked up that could push crude levels back upward. These include fewer lockdowns in China, a declining U.S. supply, the added global demand that will be attracted by a weakening dollar, and the new realization that members of OPEC+ are not likely to increase output limits. Additionally, there has been a looming concern as to how much supply will be taken offline with price limits that are to be placed on purchases of Russian oil early next week.
~ FY 2022 record revenue of $41.9 million, up from $33.3 million YoY, an increase of 26% ~
~ Fiscal fourth quarter revenues of $11.5 million, up 24% on a sequential basis compared to the fiscal third quarter of 2022 ~
~ FY 2022 net loss improved $26.2 million to $14.5 million YoY, compared to a net loss of $40.7 million ~
NEW YORK, NY / ACCESSWIRE / November 29, 2022 / Engine Gaming and Media, Inc. (“Engine” or the “Company”; NASDAQ:GAME; TSX-V:GAME), a data-driven, gaming, media and influencer marketing platform company, today announced results for its fiscal fourth quarter and full year 2022 ended August 31, 2022. All amounts are stated in U.S. dollars unless otherwise indicated.
Financial Highlights:
Total revenue for the full year 2022 increased 25.6% to $41.9 million, compared to $33.3 million in the year prior.
For the fiscal fourth quarter of 2022, revenues were $11.5 million, up 24.4% on a sequential basis when compared to $9.2 million in the fiscal third quarter of 2022.
Growth in the Company’s Advertising business in which revenues increased 28.6% to $32.7 million for the full year 2022, compared to $25.4 million in the year prior.
Continued growth in the Company’s SaaS business of 15.9% for the full year 2022 to $9.2 million.
Significant improvement in Adjusted EBITDA, inclusive of discontinued operations of 23.3% sequentially.
For the full year net loss improved significantly to $14.5 million, an increase of $26.2 million, compared to a net loss of $40.7 million.
Management Commentary
“Both the fiscal fourth quarter and full year were highlighted by the top-line growth in our advertising business delivering revenue of $32.7 million for the full year, up 29% while generating $9.0 million during the fiscal fourth quarter, an increase of 29% sequentially. In addition, significant growth in our SaaS business contributed $9.2 million to full year 2022 revenues, an increase of 16%.” said Lou Schwartz, Chief Executive Officer of Engine. “Our cost cutting initiatives are most evident in our Adjusted EBITDA inclusive of our discontinued operations of $(4.3) million, an improvement of 23% on a sequential basis. These cost cutting initiatives will become more evident in our fiscal first quarter 2023 as we work towards becoming cash flow breakeven on a run-rate basis in fiscal 2023.”
Tom Rogers, Executive Chairman of the Company added, “As previously announced, we commenced a process to explore and evaluate strategic options to enhance shareholder value. With a large number of small cap companies in similar situations to our own we feel there is a lot of opportunity to create greater scale and believe we have made a lot of progress on this initiative. We continue to narrow our focus and we are confident that our efforts will result in a significant opportunity for the company to deliver on our stated goals in initiating this process.”
Fiscal Fourth Quarter and Full Year 2022 Financial Results
Total revenue in the fiscal fourth quarter of 2022 was $11.5 million, an increase of 24.4% when compared to $9.2 million in the fiscal third quarter of 2022. Sequential growth from the third quarter was particularly apparent. The increase was primarily driven by a 29.2% sequential increase in Advertising revenue to $9.0 million from $7.0 million from the fiscal third quarter of 2022, as well as a 9.4% increase in Software-as-a-Service (SaaS) revenue to $2.4 million sequentially from $2.2 million in the fiscal third quarter of 2022.
For the full year ended August 31, 2022, net loss improved significantly to $14.5 million, or $(0.93) per basic and diluted share, compared to a net loss of $40.7 million, or $(3.43) per basic and diluted share, in the same year-ago period.
Including discontinued operations, Adjusted EBITDA improved 23.3% in the fiscal fourth quarter of 2022 to $(4.3) million when compared to $(5.7) million in the fiscal third quarter of 2022. For the full year ended August 31, 2022, Adjusted EBITDA was $(20.2) million, compared to $(18.5) million in the same year-ago period.
Exclusive of discontinued operations, Adjusted EBITDA was $(4.0) million for the fiscal fourth quarter, an improvement of 2.2% when compared to $(4.1) million in the fiscal third quarter. The fiscal fourth quarter of 2022 included approximately $400,000 of additional expense related to accounting charge estimates to certain financial assets and liabilities, with comparable charges not taken in prior periods noted above. Removing these charges from the fiscal fourth quarter of 2022, results in a 12% sequential improvement, better highlighting the initial progress the Company has made in our quarter over quarter improvement in Adjusted EBITDA. For the full year ended August 31, 2022, Adjusted EBITDA was $(16.1) million compared to $(11.6) million in the full year ended August 31, 2021.
At August 31, 2022, the Company had cash of $8.6 million.
Recent Operational Highlights:
Stream Hatchet signed contract extensions with Microsoft, Activision, and Ubisoft, while expanding its list of clients with the addition of Monumental Sports, PUBG, FIFA, Logitech, NVIDIA, and Octagon.
Sideqik added FoodPanda, Blizzard, Fanatics, and BenQ to its growing list of blue-chip companies levering their end-to-end suite of influencer marketing and social commerce technology. Renewals and extensions include Nike, Universal Music Group, Virgin Voyages, and Riot Games.
Frankly signed new contracts with Barret-Jackson, FilmFeed, Scioto Valley Guardian, and Aggregated Media.
FY Q4 and Full Year 2022 Earnings Conference Call
Management will host an investor conference call at 4:30 p.m. EDT (1:30 p.m. PDT) today, Tuesday, November 29, 2022, to discuss Engine Gaming and Media, Inc.’s fiscal fourth quarter 2022 financial results, provide a corporate update, and conclude with a Q&A from participants. To participate, please use the following information:
Please dial in at least 10 minutes before the start of the call to ensure timely participation.
Non-IFRS Measures
The Company reports earnings before interest, taxes, depreciation and amortization (“EBITDA”) and Adjusted EBITDA, which are not financial measures calculated and presented in accordance with International Financial Reporting Standards (“IFRS”) and therefore may not be comparable to similar measures presented by other issuers. EBITDA and Adjusted EBITDA should not be considered in isolation or as a substitute to net income (loss) or any other financial measures of performance or liquidity calculated and presented in accordance with IFRS. The Company defines Adjusted EBITDA as EBITDA, adjusted to exclude certain non-cash charges and other items that we do not believe are reflective of our ongoing operating results. The Company utilizes Adjusted EBITDA internally for purposes of forecasting, determining compensation, and assessing the performance of our business, therefore, we believe this measure provides useful supplemental information that may assist investors in assessing an investment in the Company.
The following unaudited table presents the reconciliation of net loss to Adjusted EBITDA for the three months and year ended August 31, 2022, and 2021, respectively.
Note (a) – Non-cash expense
The following unaudited table presents the reconciliation of net loss to Adjusted EBITDA, inclusive of discontinued operations, for the three months and year ended August 31, 2022, and 2021, respectively.
Note (a) – Non-cash expense
This earnings release should be read in conjunction with the Company’s Interim Condensed Consolidated Financial Statements and accompanying notes that will be made available on Engine’s investor relations site on November 29, 2022 which can be found at https://ir.enginemediainc.com/.
About Engine Gaming and Media, Inc.
Engine Gaming and Media, Inc. (NASDAQ:GAME)(TSXV:GAME) provides unparalleled live streaming data and social analytics, influencer relationship management and monetization, and programmatic advertising to support the world’s largest video gaming companies, brand marketers, ecommerce companies, media publishers and agencies to drive new streams of revenue. The company’s subsidiaries include Stream Hatchet, the global leader in gaming video distribution analytics; Sideqik, a social influencer marketing discovery, analytics, and activation platform; and Frankly Media, a digital publishing platform used to create, distribute, and monetize content across all digital channels. Engine generates revenue through a combination of software-as-a-service subscription fees, managed services, and programmatic advertising. For more information, please visit www.enginegaming.com.
Cautionary Statement on Forward-Looking Information
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Engine to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. In respect of the forward-looking information contained herein, Engine has provided such statements and information in reliance on certain assumptions that management believed to be reasonable at the time. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements stated herein to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on forward-looking information contained in this news release.
The forward-looking statements contained in this news release are made as of the date of this release and, accordingly, are subject to change after such date. Engine does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Company Contact: Lou Schwartz 647-725-7765
Investor Relations Contact:
Shannon Devine MZ North America Main: 203-741-8811 GAME@mzgroup.us
