Page 392 – Channelchek

Release – Tonix Pharmaceuticals to Present at the 2023 Virtual March Investor Summit

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

March 22, 2023 7:00am EDT

CHATHAM, N.J., March 22, 2023 (GLOBE NEWSWIRE) — Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP), a clinical-stage biopharmaceutical company, announced today that Jessica Morris, Chief Operating Officer of Tonix Pharmaceuticals, will present at the Virtual March Investor Summit on Wednesday, March 29, 2023, at 9:00 a.m. ET.

Investors interested in arranging a meeting with the Company’s management during the conference should contact the Investor Summit conference coordinator. A webcast of the presentation can be found here and will be available under the IR Events tab of the Tonix website at www.tonixpharma.com.

Tonix Pharmaceuticals Holding Corp.^*

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 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, for which a Phase 2 study was initiated in the third quarter of 2022. TNX-1900 (intranasal potentiated oxytocin), a small molecule in development for chronic migraine, is currently enrolling with interim data expected in the fourth quarter of 2023. TNX-601 ER (tianeptine hemioxalate extended-release tablets), a once-daily formulation of tianeptine being developed as a treatment for major depressive disorder (MDD), is also currently enrolling with interim data expected in the fourth 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 second 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 second quarter of 2023. Tonix’s infectious disease pipeline includes TNX-801, a vaccine in development to prevent smallpox and mpox, for which a Phase 1 study is expected to be initiated in the second half of 2023. TNX-801 also serves as the live virus vaccine platform or recombinant pox vaccine platform for other infectious diseases. The infectious disease portfolio also includes TNX-3900, a class of broad-spectrum small molecule oral antivirals.

^*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, 2022, as filed with the Securities and Exchange Commission (the “SEC”) on March 13, 2023, 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.

Contacts

Jessica Morris (corporate)
Tonix Pharmaceuticals
investor.relations@tonixpharma.com
(862) 904-8182

Olipriya Das, Ph.D. (media)
Russo Partners
Olipriya.Das@russopartnersllc.com
(646) 942-5588

Peter Vozzo (investors)
ICR Westwicke
peter.vozzo@westwicke.com
(443) 213-0505

Source: Tonix Pharmaceuticals Holding Corp.

Released March 22, 2023

Release – Travelzoo Reports Fourth Quarter 2022 Results

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

Research News and Market Data on TZOO

03/22/2023

Download(opens in new window)

NEW YORK, March 22, 2023 /PRNewswire/ — Travelzoo® (NASDAQ: TZOO):

Revenue of $18.6 million, up 36% year-over-year
In constant currencies, revenue was $19.4 million, up 42% year-over-year
Non-GAAP consolidated operating profit of $4.8 million
Earnings per share (EPS) of $0.20

Travelzoo, a global Internet media company that provides exclusive offers and experiences for members, today announced financial results for the fourth quarter ended December 31, 2022. Consolidated revenue was $18.6 million, up 36% from $13.7 million year-over-year. In constant currencies, revenue was $19.4 million. Travelzoo’s reported revenue consists of advertising revenues and commissions, derived from and generated in connection with purchases made by Travelzoo members.

The reported net income attributable to Travelzoo from continuing operations was $2.5 million for Q4 2022. At the consolidated level, including minority interests, the reported net income from continuing operations was $2.5 million. EPS from continuing operations was $0.20, compared to EPS of ($0.27) in the prior-year period.

Non-GAAP operating profit was $4.8 million. The calculation of non-GAAP operating profit excludes impairment of intangible assets ($200,000), amortization of intangibles ($453,000), stock option expenses ($348,000) and severance-related expenses ($200,000). GAAP operating profit was $3.6 million. See section “Non-GAAP Financial Measures” below.

“Revenue growth accelerated in both North America and in Europe, leading to much stronger earnings,” said Holger Bartel, Travelzoo’s Global CEO. “As the recovery from the pandemic continues, we will leverage Travelzoo’s global reach and trusted brand to further improve earnings in future periods.”

“With more than 30 million members, 7 million mobile app users, and 4 million social media followers, Travelzoo is loved by travel enthusiasts who are affluent, active and open to new experiences.”

Cash Position
As of December 31, 2022, consolidated cash, cash equivalents and restricted cash were $19.4 million. Net cash used in operations was $2.3 million for the three months ended December 31, 2022. Cash was used primarily in connection with a decrease of merchant payables by $6.3 million.

Reserve
Reported revenues include a reserve of $1.3 million related to commissions to be earned from vouchers sold. The reserve is booked as contra revenue.

Travelzoo North America
North America business segment revenue increased 53% year-over-year to $13.1 million. Operating profit for Q4 2022 was $3.7 million, or 29% of revenue, compared to an operating loss of $2.1 million in the prior-year period.

Travelzoo Europe
Europe business segment revenue increased 9% year-over-year to $4.7 million. At constant currencies, Europe business segment revenue increased 23% year-over-year. Operating profit for Q4 2022 was $42,000, compared to an operating loss of $1.7 million in the prior-year period.

Jack’s Flight Club
On January 13, 2020, Travelzoo acquired 60% of Jack’s Flight Club, a membership subscription service. Jack’s Flight Club revenue increased 6% year-over-year to $855,000. During Q4 2022, premium subscribers increased 27%. Revenue from increases in subscribers is reported with a lag because we recognize revenue from subscriptions monthly pro rata over the subscription period (quarterly, semi-annually, annually). Non-GAAP operating profit for Q4 2022 was $220,000, compared to a non-GAAP operating profit of $292,000 in the prior-year period. After consolidation with Travelzoo, Jack’s Flight Club’s net loss was $102,000, with $61,000 attributable to Travelzoo as a result of recording $200,000 of intangible assets impairment and $216,000 of amortization of intangible assets related to the acquisition.

Licensing
In June 2020, Travelzoo entered into a royalty-bearing licensing agreement with a local licensee in Japan for the exclusive use of Travelzoo’s brand, business model, and members in Japan. In August of 2020, Travelzoo entered into a royalty-bearing licensing agreement with a local licensee in Australia for the exclusive use of Travelzoo’s brand, business models, and members in Australia, New Zealand, and Singapore. Under these arrangements, Travelzoo’s existing members in Australia, Japan, New Zealand, and Singapore will continue to be owned by Travelzoo as the licensor. Licensing revenue is booked with a lag of one quarter. Travelzoo recorded $7,000 in licensing revenue from the licensee in Australia, New Zealand, and Singapore in Q4 2022. Licensing revenue is expected to increase going forward.

Members and Subscribers
As of December 31, 2022, we had 30.4 million members worldwide. In North America, the unduplicated number of Travelzoo members was 16.3 million as of December 31, 2022, down 4% from December 31, 2021. In Europe, the unduplicated number of Travelzoo members was 9.0 million as of December 31, 2022, up 8% from December 31, 2021. Jack’s Flight Club had 1.9 million subscribers as of December 31, 2022, up 8% from December 31, 2021.

Discontinued Operations
As announced in a press release on March 10, 2020, Travelzoo decided to exit its Asia Pacific business and operate it as a licensing business going forward. Consequently, the Asia Pacific business has been classified as discontinued operations since March 31, 2020. Prior periods have been reclassified to conform with the current presentation. Certain reclassifications have been made for current and prior periods between the continued operations and the discontinued operations in accordance with U.S. GAAP.

Income Taxes
Income tax expense was $1.1 million in Q4 2022, compared to an income tax benefit of $333,000 in the prior-year period.

Non-GAAP Financial Measures
Management calculates non-GAAP operating income when evaluating the financial performance of the business. Travelzoo’s calculation of non-GAAP operating income, also called “non-GAAP operating profit” in this press release and today’s earnings conference call, excludes the following items: impairment of intangibles, amortization of intangibles, stock option expenses, and severance-related expenses. This press release includes a table which reconciles GAAP operating income to the calculation of non-GAAP operating income. Non-GAAP operating income is not required by, or presented in accordance with, generally accepted accounting principles in the United States of America (“GAAP”). This information should be considered as supplemental in nature and should not be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures reported by other companies.

Looking Ahead
For Q1 2023, we currently expect higher revenue and profitability. During the pandemic, we have been able to lower our fixed costs. We believe we can keep our fixed costs relatively low in the foreseeable future.

Conference Call
Travelzoo will host a conference call to discuss fourth quarter 2022 results today at 11:30 a.m. ET. Please visit http://ir.travelzoo.com/events-presentations to

download the management presentation (PDF format) to be discussed in the conference call
access the webcast.

About Travelzoo
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.

Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect”, “predict”, “project”, “anticipate”, “believe”, “estimate”, “intend”, “plan”, “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Travelzoo, Top 20, and Jack’s Flight Club are registered trademarks of Travelzoo.

Investor Relations:
ir@travelzoo.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/travelzoo-reports-fourth-quarter-2022-results-301778197.html

SOURCE Travelzoo

Release – Multi-State Cannabis Operator, Schwazze, Continues Expansion Efforts In New Mexico With Additional R.Greenleaf Store In Carlsbad

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

Research News and Market Data on SHWZ

March 21, 2023

PDF Version

NEO: SHWZ
OTCQX: SHWZ

Grand Opening Event Scheduled for Saturday, March 25th

DENVER, March 21, 2023 /CNW/ – Schwazze, (OTCQX: SHWZ) (NEO: SHWZ) (“Schwazze” or the “Company”), a multi-state operating cannabis company with assets in Colorado and New Mexico, announces the opening of its medical and adult-use dispensary, R.Greenleaf Carlsbad. The new store is located at 800 W. Pierce Street in Carlsbad, New Mexico. Store operating hours are 10a to 9p Monday through Sunday.

The R.Greenleaf Carlsbad store opening continues the intentional expansion throughout the state of New Mexico and comes on the heels of a total of seven additional R.Greenleaf store openings since Schwazze’s acquisition of the retail banner in February 2022.

This brings R.Greenleaf’s total number of New Mexico retail dispensaries to 18. All locations serve the needs of medical patients as well as recreational, adult-use consumers. R.Greenleaf offers a wide variety of quality products serviced by top-notch, knowledgeable staff.

“We are truly excited to be a part of the local Carlsbad community as we expand throughout the state of New Mexico. I’d like to thank our R.Greenleaf support center and retail teams who have been hard at work helping us realize our state-wide expansion efforts for this customer-focused retail banner,,” said Ken Diehl, Schwazze New Mexico Division President.

R.Greenleaf Carlsbad will offer introductory pricing on flower, edibles, and vapes. Enrollment in the Gratify Rewards customer loyalty program, which can be used at any Schwazze-owned retail dispensary in either New Mexico or Colorado, is now open.

The grand opening event is scheduled for Saturday, March 25th beginning at 12 noon. All Gratify Rewards members that make a dispensary purchase on the 25^th will automatically be entered to win a PuffCo Proxy valued at $350.

R.Greenleaf Carlsbad will offer free barbecue plates the first 50 customers that make a dispensary purchase beginning at 12pm on March 25th. The first 50 customers will also receive gift bags containing swag, stickers and merchandise. Bloom County, a premier flower brand, will be on site for a pop-up event while music will be played by DJ Milo.

Carlsbad Store Location
R.Greenleaf Carlsbad
800 W Pierce St
Carlsbad, New Mexico 88220
(575) 305-7944

Grand Opening Celebration
Saturday, March 25, 2023
12p to 4p

Store Hours
Monday thru Sunday, 10a to 9p

Since April 2020, Schwazze has acquired, opened or announced the planned acquisition of 45 cannabis retail dispensaries as well as seven cultivation facilities and two manufacturing plants in Colorado and New Mexico. In May 2021, Schwazze announced its Biosciences division and in August 2021 it commenced home delivery services in Colorado.

About Schwazze
Schwazze (OTCQX: SHWZ NEO: SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.

Medicine Man Technologies, Inc. was Schwazze’s former operating trade name. The corporate entity continues to be named Medicine Man Technologies, Inc. Schwazze derives its name from the pruning technique of a cannabis plant to enhance plant structure and promote healthy growth.

Forward-Looking Statements
This press release contains “forward-looking statements.” Such statements may be preceded by the words “plan,” “will,” “may,” “continue,” “predicts,” or similar words. Forward-looking statements are not guarantees of future events or performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified. Consequently, actual events and results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) our inability to manufacture our products and product candidates on a commercial scale on our own or in collaboration with third parties; (ii) difficulties in obtaining financing on commercially reasonable terms; (iii) changes in the size and nature of our competition; (iv) loss of one or more key executives or scientists; (v) difficulties in securing regulatory approval to market our products and product candidates; (vi) our ability to successfully execute our growth strategy in Colorado and outside the state, (vii) our ability to consummate the acquisition described in this press release or to identify and consummate future acquisitions that meet our criteria, (viii) our ability to successfully integrate acquired businesses, including the acquisition described in this press release, and realize synergies therefrom, (ix) the ongoing COVID-19 pandemic, * the timing and extent of governmental stimulus programs, and (xi) the uncertainty in the application of federal, state and local laws to our business, and any changes in such laws. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise except as required by law.

View original content to download multimedia:https://www.prnewswire.com/news-releases/multi-state-cannabis-operator-schwazze-continues-expansion-efforts-in-new-mexico-with-additional-rgreenleaf-store-in-carlsbad-301777953.html

SOURCE Schwazze

Bowlero (BOWL) – Stock Slips Creating More Compelling Opportunity

Posted on March 22, 2023March 22, 2023 by cpatches

Wednesday, March 22, 2023

Bowlero Corp. is the worldwide leader in bowling entertainment, media, and events. With more than 300 bowling centers across North America, Bowlero Corp. serves more than 26 million guests each year through a family of brands that includes Bowlero, Bowlmor Lanes, and AMF. In 2019, Bowlero Corp. acquired the Professional Bowlers Association, the major league of bowling, which boasts thousands of members and millions of fans across the globe. For more information on Bowlero Corp., please visit BowleroCorp.com.

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.

Exercised the earn-out. In 2021, Bowlero issued 11.4 million “earn-out” shares exercisable should the shares trade at or above $15 for a 10 day period. Given the recent price movement, the “earn-out” was achieved, and, as a result, Atairos Group and Thomas Shannon each received 4.9 million earn-out shares. Atairos subsequently sold the shares.

Increasing float. Atairos acquired the “earn-out” shares as part of the business combination agreement when Bowlero went public in 2021. Atairos could have sold up to 9 million shares under 144a, but only sold the exact number of “earn-out” shares. Atairos cannot sell additional shares until Bowlero’s next earnings date in mid-May. The sale of the 4.9 million earnout shares increased Bowlero’s public share float from 17.9% to 20.7% of total shares outstanding.

Get the Full Report

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.

Schwazze (SHWZ) – Keep On Growing

Posted on March 22, 2023March 22, 2023 by cpatches

Wednesday, March 22, 2023

Schwazze (OTCQX:SHWZ, NEO:SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.

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 Store. Schwazze recently announced the opening of a new R. Greenleaf store in New Mexico. The new store will be located at 800 W. Pierce Street in Carlsbad and will have a grand opening date of March 25, 2023. The opening makes it eight new dispensaries in New Mexico since Schwazze acquired R. Greenleaf in February 2022.

City Details. Carlsbad has an overall population of 29,278 with a median household income of approximately $70,000 as of 2020 from Data USA. The town is somewhat competitive, as it contains 14 other dispensaries according to the New Mexico Regulation and Licensing Department. Carlsbad is located in the southeast portion of New Mexico as well, near the border of Texas, which is an area of focus for Schwazze as local dispensaries can benefit from out-of-state customers.

Get the Full Report

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

Great Lakes Dredge & Dock (GLDD) – Recent Dredging Award Activity

Posted on March 22, 2023March 22, 2023 by cpereira@noblefcm.com

Wednesday, March 22, 2023

Great Lakes Dredge & Dock Corporation is the largest provider of dredging services in the United States. In addition, Great Lakes is fully engaged in expanding its core business into the rapidly developing offshore wind energy industry. The Company has a long history of performing significant international projects. The Company employs experienced civil, ocean and mechanical engineering staff in its estimating, production and project management functions. In its over 131-year history, the Company has never failed to complete a marine project. Great Lakes owns and operates the largest and most diverse fleet in the U.S. dredging industry, comprised of approximately 200 specialized vessels. Great Lakes has a disciplined training program for engineers that ensures experienced-based performance as they advance through Company operations. The Company’s Incident-and Injury-Free® (IIF®) safety management program is integrated into all aspects of the Company’s culture. The Company’s commitment to the IIF® culture promotes a work environment where employee safety is paramount.

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.

Recent Dredging Awards. Great Lakes Dredge & Dock Corporation received several major dredging awards totaling $138.8 million. The awarded work includes coastal protection and maintenance work. There is still a lack of higher margin capital projects as the Army Corps of Engineers continues to be slow in making major capital project awards, in our view.

Trujillo Alto. The major award is Trujillo Alto Design and Build for the Lago Loiza (Carraízo) Dredging Project (Maintenance, Puerto Rico, $93.1 million). The project includes dredging in the reservoir area, preparation and construction of the work area, and storage and handling of materials. Work is expected to commence in the Spring of 2023 with estimated completion in the Spring of 2025.

Get the Full Report

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

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.