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Release – Euroseas Ltd. Announces Agreement to Acquire two 4,250 teu Container Vessels, built in 2005 and 2007

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Euroseas Ltd. Announces Agreement to Acquire two 4,250 teu Container Vessels, built in 2005 and 2007

Research, News, and Market Data on Euroseas Ltd

ATHENS, Greece, May 03, 2022 (GLOBE NEWSWIRE) — Euroseas Ltd. (NASDAQ: ESEA, the “Company” or “Euroseas”), an owner and operator of container vessels and provider of seaborne transportation for containerized cargoes, announced today that it has agreed to acquire M/V Seaspan Manila and M/V Seaspan Melbourne both intermediate size container vessels with capacity of 4,250 teu each built in 2007 and 2005, respectively. The vessels are being acquired for a combined price of $37 million. The Company will also assume the existing charter arrangements of the vessels. Both acquisitions will be initially financed with the Company’s own funds. Specifically:

  • M/V Seaspan Manila is expected to be delivered to the Company within July 2022 and has a charter contract until February 2025 at a rate which is $20,250 per day until April 2024 and, subsequently, based on the CONTEX index with a floor of $13,000 per day and a ceiling of $21,000 per day until the end of the charter period.
  • M/V Seaspan Melbourne is expected to be delivered to the Company within June 2022 and has a charter contract until March 2025 at a rate of $19,000 per day.

Aristides Pittas,
Chairman and CEO of Euroseas commented:
“We are pleased to announce the acquisition of M/V Seaspan Manila and M/V Seaspan Melbourne, two intermediate containerships built in 2007 and 2005, respectively, along with their existing approximately two years and three quarters long charters. These charters are expected to contribute in excess of about $20 million of EBITDA, bringing the cost basis of the vessels to scrap price levels by the end of the charters while providing a significant contribution to our profitability. Furthermore, depending on the market after the end of the charters in early 2025, we may enjoy significant additional upside if the containership markets are even just at historically average levels. As we have stated in the past, our fleet growth strategy is focused on acquisitions with such a low risk profile alongside our newbuilding program.

“After the delivery of the above vessels, we will have a fleet of eighteen containerships on the water and a newbuilding program of seven feeder containerships which are expected to be completed between the first quarter of 2023 and the second quarter of 2024, expanding our footprint in the sector and solidifying our position as the main US publicly listed company focusing on feeder and intermediate container vessels.”

Fleet Profile:

After the acquisition of M/V “Seaspan Melbourne” and M/V “Seaspan Manila”, the Euroseas Ltd. fleet and employment profile will be as follows:

Vessels
under construction

Type

Dwt

TEU

To be delivered

H4201

Feeder

37,237

2,800

Q1 2023

H4202

Feeder

37,237

2,800

Q2 2023

H4236

Feeder

37,237

2,800

Q4 2023

H4237

Feeder

37,237

2,800

Q1 2024

H4248

Feeder

22,262

1,800

Q2 2024

H4249

Feeder

22,262

1,800

Q2 2024

H4250

Feeder

22,262

1,800

Q2 2024

Notes:
(*)        TC denotes time charter. Charter duration indicates the earliest redelivery date; all dates listed are the earliest redelivery dates under each TC unless the contract rate is lower than the current market rate in which cases the latest redelivery date is assumed; vessels with the latest redelivery date shown are marked by (+).
(**)      CONTEX stands for the Container Ship Time Charter Assessment Index.
(***)     Rate is net of commissions (which are typically 5-6.25%)

About Euroseas Ltd.
Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the NASDAQ Capital Market under the ticker ESEA.

Euroseas operates in the container shipping market. Euroseas’ operations are managed by Eurobulk Ltd., an ISO 9001:2008 and ISO 14001:2004 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements. 

The Company has a fleet of 18 vessels, including 10 Feeder and 8 Intermediate containerships with a cargo capacity of 58,871 teu. After the delivery of seven feeder containership newbuildings in 2023 and the first half of 2024, Euroseas’ fleet will consist of 25 vessels with a total carrying capacity of 75,471 teu.

Forward Looking Statement
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company’s growth strategy and measures to implement such strategy; including expected vessel acquisitions and entering into further time charters. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “hopes,” “estimates,” and variations of such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to changes in the demand for containerships, competitive factors in the market in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company’s filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. 

Visit our website www.euroseas.gr

Company Contact

Investor Relations / Financial Media

Tasos Aslidis
Chief Financial Officer
Euroseas Ltd.
11 Canterbury Lane,
Watchung, NJ 07069
Tel. (908) 301-9091
E-mail: 
aha@euroseas.gr

Nicolas Bornozis
Markella Kara
Capital Link, Inc.
230 Park Avenue, Suite 1540
New York, NY 10169
Tel. (212) 661-7566
E-mail: 
euroseas@capitallink.com

 

Release – ACCO Brands’ Graciela Monteagudo Recognized as NACD Directorship 100 Honoree

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ACCO Brands’ Graciela Monteagudo Recognized as NACD Directorship 100™ Honoree

Research, News, and Market Data on ACCO Brands

The 16th Annual NACD Directorship 100™ List Recognizes the Most
Influential Corporate Directors and Governance Experts

LAKE ZURICH, Ill.–(BUSINESS WIRE)– The National Association of Corporate Directors (NACD) announced the 2022 NACD Directorship 100™—the most influential peer-nominated leaders in the boardroom and corporate governance community. Included among this year’s esteemed honorees is Graciela Monteagudo of ACCO Brands.

“We applaud Graciela for this deserved recognition,” said Boris Elisman, Chairman and Chief Executive Officer, ACCO Brands. “It is a testament to Graciela’s expertise that other directors put forward her nomination. As the Chair of the Nominating, Governance and Sustainability Committee, she leads our Board’s deliberations on governance and ESG topics, and champions improvements in policies and disclosure. We are very proud that Graciela is a 2022 NACD honoree.”

Now in its 16th year, the NACD Directorship 100 awards recognize peer-nominated leading directors and governance professionals. Honorees are evaluated in four key categories: integrity, mature confidence, informed judgment and high-performance standards. A selection committee reviewed the nominees’ histories of advancing board performance and leading corporate governance practices in accordance with established NACD principles. The principles are a framework that encourages excellence in areas that include risk oversight, corporate strategy, compensation and transparency.

“The NACD Directorship 100 continues to honor those who have demonstrated exemplary board leadership and innovation in corporate governance,” said Peter R. Gleason, NACD President and Chief Executive Officer. “We honor these individuals’ forward-thinking minds and their ability to lead their boards and organizations to current and future success.”

The complete list of the 2022 NACD Directorship 100 is available at https://directorship100.nacdonline.org/honorees/2022.

Honorees will be recognized during the NACD Directorship 100 Gala, a black-tie event being held on June 22 at Cipriani 42nd Street in New York City. To learn more about the NACD Directorship 100 Gala, please visit the Directorship 100 Gala and sponsorship site.

About ACCO Brands Corporation

ACCO Brands Corporation (NYSE: ACCO) is one of the world’s largest designers, marketers and manufacturers of branded academic, consumer and business products. Our widely recognized brands include Artline®, AT-A-GLANCE®, Barrilito®, Derwent®, Esselte®, Five Star®, Foroni®, GBC®, Hilroy®, Kensington®, Leitz®, Mead®, PowerA®, Quartet®, Rapid®, Rexel®, Swingline®, Tilibra®, Wilson Jones® and many others. Our products are sold in more than 100 countries around the world. More information about ACCO Brands, the Home of Great Brands Built by Great People, can be found at www.accobrands.com.

About NACD

For more than 40 years, NACD has been on the leading edge of corporate governance, setting standards of excellence that have elevated board performance. NACD arms today’s directors with insights and education that drive their mission forward, while preparing a new generation of boardroom leaders to meet tomorrow’s biggest challenges. NACD is a community of more than 23,000 directors driven by a common purpose: to be trusted catalysts of economic opportunity and positive change—in businesses and in the communities they serve. To learn more about NACD, visit nacdonline.org.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220503005778/en/

Julie McEwan
julie.mcewan@acco.com
(937) 974-8162

Shannon Bernauer
sbernauer@nacdonline.org
(571) 367-3688

Source: ACCO Brands Corporation

SEC Announces Crypto Assets and Cyber Unit Will Double in Size

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Image Credit: Richard Patterson (Flickr)


SEC Nearly Doubles Size of Enforcement’s Crypto Assets and Cyber Unit

The Securities and Exchange Commission (SEC) just announced (May 3) that an additional 20 positions will be added to the unit responsible for protecting investors in crypto markets and from cyber-related threats. The newly renamed Crypto Assets and Cyber Unit (formerly known as the Cyber Unit) in the Division of Enforcement will expand to 50 staff members dedicated to the unit.

SEC Chairman Gary Gensler, who once taught blockchain and crypto at MIT, says the crypto industry is rife with fraud and abuse. He likens it to the “Wild West.”

“The U.S. has the greatest capital markets because investors have faith in them, and as more investors access the crypto markets, it is increasingly important to dedicate more resources to protecting them,” said Chairman Gensler. “The Division of Enforcement’s Crypto Assets and Cyber Unit has successfully brought dozens of cases against those seeking to take advantage of investors in crypto markets.

By nearly doubling the size of this key unit, the SEC expects to be better equipped to police wrongdoing in the cryptocurrency markets while continuing to identify disclosure and controls issues surrounding cybersecurity.” Since its creation in 2017, the unit has brought more than 80 enforcement actions related to fraudulent and unregistered crypto-asset offerings and platforms. This has resulted in monetary relief totaling more than $2 billion.

The expanded Crypto Assets and Cyber Unit will leverage the agency’s expertise to ensure investors are protected in the crypto markets, with a focus on investigating securities law violations related to:

  • Crypto asset offerings
  • Crypto asset exchanges
  • Crypto asset lending and staking products
  • Decentralized finance (“DeFi”) platforms
  • Non-fungible tokens (“NFTs”)
  • Stablecoins

In addition, the unit has brought actions against SEC registrants and public companies for failing to maintain adequate cybersecurity controls and for failing to appropriately disclose cyber-related risks and incidents.

The Crypto Assets and Cyber Unit will continue to tackle cyber-related threats to U.S. markets. “Crypto markets have exploded in recent years, with retail investors bearing the brunt of abuses in this space. Meanwhile, cyber-related threats continue to pose existential risks to our financial markets and participants,” said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement. “The bolstered Crypto Assets and Cyber Unit will be at the forefront of protecting investors and ensuring fair and orderly markets in the face of these critical challenges.” The expansion by 20 additional positions into the Crypto Assets and Cyber Unit will bolster the ranks of its supervisors, investigative staff attorneys, trial counsels, and fraud analysts in the agency’s headquarters in Washington, DC, as well as several regional offices.

Paul Hoffman

Managing Editor, Channelchek

Suggested Reading



Cryptocurrencies in 2022, a View from Academics

The SEC Wants to Extend Investor Protections to Crypto Platforms





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

The World Is HOT Right Now! – Panel Presentation from NobleCon18

Source

https://www.sec.gov/news/press-release/2022-78

 

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Will Investors Get What they are Looking for From the Fed?

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Image Credit: Marco Verch (Flickr)


Will Investors Rework their Positions in Response to Fed Statements?

Will the Fed send any new signals after its May FOMC meeting?

Federal Reserve members have set investor expectations for a 50bp increase in overnight rates after the May 4 meeting. It’s a pretty safe bet. Anything different would severely spook the markets. However, where the surprise may come is in what Chairman Jay Powell says related to the future after the two-day meeting. This could adjust expectations which would cause investors to adjust their portfolios.

A New Wrinkle to Watch

 While the markets believe that at the following meeting in June the FOMC will also serve up a 50bp hike, last week’s negative first-quarter GDP report may cause the Chairman to speak more cautiously.  And no one has clarity on what the Fed may do after June. One new wrinkle Fed-watchers are aware of is that the negative Q1 GDP, by definition, places us halfway to a recession. If the current quarter also shows negative growth, we are, by definition, already in a recession.

Tightening monetary policy to stop inflation while the economy is shrinking is stagflation.

Investors will be placing every word in the Fed Chairman’s post-meeting statement under a microscope. Inflation is still running at 40-year highs. Interest rates are well below inflation rates creating negative real yields (interest rate minus inflation). Investors prefer to earn above future inflation expectations.

So what are the Fed’s expectations? We should know tomorrow afternoon.


Current Market Expectations

The half a percentage point increase expected is considered aggressive. The Fed typically acts in 25 bp moves and then measures the results. Fed Funds are currently targeted at 0.25%-0.50%, so doubling the level truly is unusual. Many economists, based on previous Fed-speak, expect that a similar move will be made in June before the policymakers sit back and let the market absorb their moves.

The Fed has a number of accommodative stances in place that it discussed unwinding beginning this year – market participants want to know if anything has changed. One of them is to begin shrinking its $9 trillion asset portfolio, starting in the first half and at a much faster pace than its sidetracked attempt at passively reducing its holdings went five years ago.

Since Last Tightening

In March, Fed officials lifted their benchmark federal-funds rate to a range between 0.25% and 0.50%, from near zero. They also projected they could lower inflation back to their 2% target without raising the fed-funds rate higher than 3%. They have considered 2% their neutral range where the economy would avoid getting too heated and avoid slumping.

Economic reports released since the Fed’s last 2022 meeting suggest price pressures could remain more persistent as employers continue to give in to higher wage pressures along with price inputs. On Friday, a Labor Department measure of worker pay that is closely watched by central-bank officials showed wages and benefits for private-sector workers continued to rise at its highest rate since 2000.

Fed communication with the public is especially important now because the central bank is relying on market expectations about its future policy intentions to play a major role in removing stimulus without undue costs to the economy.

Take-Away

Bond traders who watch the Fed most closely are expecting a 50bp increase. Not 25bp and not 75bp. The Fed would disrupt the market if they did anything different. It’s future expectations that will be managed both for the overnight lending rate and the more entrenched stimulus that has been in the system as the Fed purchased longer-term bonds. “Mopping” up this stimulus, which has had a very positive impact on economic growth, is tricky.

Chairman Powell’s audience will be listening intently to know what the future holds. In reality, not even the Fed Chair himself knows what is coming in the next year or two. But, the market will at least hear what the top banker is expecting. 

The FOMC announcement should come at 2pm on May 4.

Paul Hoffman

Managing Editor, Channelchek

Suggested Reading



Has the Fed Run Out of Good Options?

Deflation Not Inflation is Risk Says Cathie Wood





What is the Yield Curve?

What is the Fed’s Beige Book?

Sources

https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm

https://www.usnews.com/news/business/articles/2022-05-03/asian-shares-mixed-in-light-golden-week-trading

https://www.wsj.com/articles/feds-message-on-interest-rate-path-destination-will-be-scrutinized-11651570200?mod=hp_lead_pos4

 

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Release – Gray and Telemundo Significantly Expand Affiliation Partnership

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Gray and Telemundo Significantly Expand Affiliation Partnership

Research, News, and Market Data on Gray Television

ATLANTA, May 03, 2022
(GLOBE NEWSWIRE) — Gray Television, Inc. (“Gray,” “we,” or “our”) (NYSE:
GTN) has reached an agreement with Telemundo Network Group, LLC that extends the term of Gray’s affiliation agreements with Telemundo Network for its existing 12 markets, including Atlanta and 7 markets in Texas. The new agreement also awards Gray the right to launch the first-ever local Telemundo affiliations on Gray’s television stations in 22 additional markets.

Once the new Telemundo affiliated stations launch this year, Gray will own and operate television stations providing Telemundo’s top-tier programming to a total of 34 television markets with an estimated Hispanic population exceeding 3.75 million people. The newest Telemundo TV markets are located primarily in the South, which aligns with the Hispanic population growth within the US. According to Pew Research, the South saw the fastest growth among Hispanics, increasing by 26% from 2010 to 2019.

The expansion includes the upcoming launch of “Telemundo Georgia,” a new network of local television stations throughout the Peach State, including Macon, Columbus and Savannah. Initially, Telemundo Georgia will distribute the signal of Telemundo Atlanta (WKTB) in all markets.  Over time, the individual markets will create and launch local content supported by the flagship Atlanta affiliate station.

Susan Sim Oh, Gray’s Vice President of Strategy and Operations, Telemundo Station Group, explained, “Gray’s expansion of Telemundo into new markets exemplifies its commitment to serve all the audiences and businesses within the local communities it serves. Importantly, this investment goes beyond just providing the most exciting Spanish language programming to 34 television markets. It also includes concrete plans to increase essential local news and digital offerings to currently underserved Hispanic households powered by Gray’s strong local television stations in these markets.”

Telemundo is a top producer of original Spanish-language content in the US, producing over 3,000 hours of content per year ranging from scripted, reality, specials, sports, and more. Telemundo is a leader when it comes to connecting with audiences across all platforms through exclusive live events such as the FIFA World Cup, Olympics, Miss Universe, Latin Music Billboards, Chivas de Guadalajara, Premier League and Boxeo. Telemundo is home to the world’s most popular sporting events, the FIFA World Cup until 2026 and Summer Olympic Games through 2032.

Gray and Telemundo extended existing affiliation agreements between the companies for the following markets (Hispanic DMA in parenthesis):

Atlanta, GA (23)
Odessa-Midland, TX (37)
Waco-Temple-Bryan, TX (38)
Laredo, TX (40)
Lubbock, TX (51)
Amarillo, TX (53)
Cleveland, OH (55)
Reno, NV (60)
Honolulu, HI (67)
Tyler-Longview, TX (70)
Wichita Falls, TX & Lawton, OK (96)
Grand Junction, CO (135)

In addition, Gray will launch new Telemundo Network-affiliated channels on a mix of full-power and low power television stations serving the following 22 markets (Hispanic DMA in parenthesis):

Nashville, TN (54)
Mobile-Pensacola, AL (84)
Memphis, TN (85)
Savannah, GA (88)
Birmingham, AL (91)
Greenville-New Bern, NC (94)
Huntsville-Decatur, AL (97)
Shreveport, LA (98)
Knoxville, TN (105)
Tallahassee-Thomasville, FL (109)
Charleston, SC (112)
Gainesville, FL (125)
Augusta-Aiken, GA (126)
Myrtle Beach-Florence, SC (127)
Columbus, GA (Opelika, AL) (130)
Wilmington, NC (136)
Macon, GA (138)
Albany, GA (141)
Biloxi-Gulfport, MS (147)
Panama City, FL (152)
Montgomery-Selma, AL (158)
Bowling Green, KY (181)

Gray Television, Inc. is a multimedia company headquartered in Atlanta, Georgia. Gray is the nation’s largest owner of top-rated local television stations and digital assets in the United States.  Our television stations serve 113 television markets that collectively reach approximately 36 percent of US television households. This portfolio includes 80 markets with the top-rated television station and 100 markets with the first and/or second highest rated television station.  We also own video program companies Raycom Sports, Tupelo Honey, and PowerNation Studios, as well as the studio production facility Third Rail Studios.  For additional information, please visit www.gray.tv.

Release – Maple Gold Files Technical Report and Mineral Resource Estimate for the Douay Gold Project

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Maple Gold Files Technical Report and Mineral Resource Estimate for the Douay Gold Project

Research, News, and Market Data on Maple Gold Mines

Vancouver, British Columbia–(Newsfile Corp. – May 2, 2022) – 
Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple
Gold” or the “Company“) is pleased to announce that it has filed a technical report in accordance with National Instrument 43-101 – 
Standards of Disclosure for Mineral Projects for the Douay Gold Project (“Douay”) and the Joutel Gold Project (“Joutel”), which are both held by a 50/50 joint venture (the “JV”) between the Company and Agnico Eagle Mines Limited. The technical report entitled “NI
43-101 Technical Report on the Douay and Joutel Projects, Northwestern Québec,
Canada” was prepared by SLR Consulting (Canada) Ltd. to support the disclosure of the updated Douay mineral resource estimate, with an effective date of March 17, 2022, and to document the exploration status of Joutel. The technical report is available on SEDAR (www.sedar.com) and on the Company’s website (www.maplegoldmines.com).

Maple Gold’s news release dated March 17, 2022, which is also available on SEDAR and the Company’s website, summarizes key results, assumptions and estimates contained in the technical report. The Company is pleased to report that there are no material differences between the key results, assumptions and estimates contained in the news release dated March 17, 2022 and the content of the technical report filed today.

Qualified Persons

The mineral resources disclosed in this news release have been estimated by Ms. Marie-Christine Gosselin, P.Geo., an employee of SLR and independent of Maple Gold Mines. By virtue of her education and relevant experience, Ms. Gosselin is a “Qualified Person” for the purpose of NI 43-101. Mineral resources have been classified in accordance with CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014). Ms. Gosselin, P.Geo. has read and approved the contents of this press release as it pertains to the disclosed mineral resource estimates.

The scientific and technical data contained in this news release was reviewed and prepared under the supervision of Mr. Fred Speidel, M. Sc., P. Geo., Vice-President Exploration of Maple Gold. Mr. Speidel is a Qualified Person under NI 43-101. Mr. Speidel has verified the data related to the exploration information disclosed in this press release through his direct participation in the work.

About Maple Gold

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

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

Cautionary Note Regarding Mineral Resource Estimate

Readers are cautioned that mineral resources are not mineral
reserves and have not demonstrated economic viability. The mineral resource
estimate is classified in accordance with the Canadian Institute of Mining,
Metallurgy and Petroleum’s “CIM Definition Standards on Mineral Resources
and Mineral Reserves” incorporated by reference into National Instrument
43-101 – Standards of Disclosure for Mineral Projects. There is no guarantee
that any part of the mineral resources discussed herein will be converted into
a mineral reserve in the future.

ON BEHALF OF MAPLE GOLD MINES LTD.

“Matthew Hornor”

B. Matthew Hornor, President & CEO

For Further Information Please Contact:

Mr. Joness Lang
Executive Vice-President
Cell: 778.686.6836
Email: 
jlang@maplegoldmines.com

Mr. Kiran Patankar
SVP, Growth Strategy
Cell: 604.935.9577
Email: 
kpatankar@maplegoldmines.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

Forward Looking Statements:

This press release contains “forward-looking information” and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada, including statements about exploration work and results from current and future work programs. Forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future events. Actual events or results could differ materially from the Company’s expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.maplegoldmines.com. The
Company does not intend, and expressly disclaims any intention or obligation
to, update or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by law.

Release – Salem Media Group Schedules First Quarter 2022 Earnings Release and Teleconference

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Salem Media Group Schedules First Quarter 2022 Earnings Release and Teleconference

Research, News, and Market Data on Salem Media

IRVING, Texas–(BUSINESS WIRE)– Salem Media
Group, Inc. (NASDAQ: SALM) announced today that it plans to report its first quarter 2022 financial results at 2:00 PM Central Time on May 10, 2022.

The company also plans to host a teleconference to discuss its results on May 10, 2022 at 3:00 PM Central Time. To access the teleconference, please dial (877) 524-8416, and then ask to be joined to the Salem Media Group First Quarter 2022 call or listen to the webcast.

A replay of the teleconference will be available through May 24, 2022 and can be heard by dialing (877) 660-6853 – replay pin number 13727921, or on the investor relations portion of the company’s website, located at investor.salemmedia.com.

ABOUT SALEM MEDIA GROUP:

Salem Media Group is America’s leading multimedia company specializing in Christian and conservative content, with media properties comprising radio, digital media and book and newsletter publishing. Each day Salem serves a loyal and dedicated audience of listeners and readers numbering in the millions nationally. With its unique programming focus, Salem provides compelling content, fresh commentary and relevant information from some of the most respected figures across the Christian and conservative media landscape. Learn more about Salem Media Group, Inc. at www.salemmedia.com, Facebook and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220502005607/en/

Evan D. Masyr
Executive Vice President and Chief
Financial Officer
(805) 384-4512
evan@salemmedia.com

Source: Salem Media Group, Inc.

Alliance Resource Partners (ARLP) – Adjusted Estimates Reflect Income Tax Estimate Revisions

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Monday, May 02, 2022

Alliance Resource Partners (ARLP)
Adjusted Estimates Reflect Income Tax Estimate Revisions

ARLP is a diversified natural resource company that generates operating and royalty income from coal produced by its mining complexes and royalty income from mineral interests it owns in strategic oil & gas producing regions in the United States, primarily the Permian, Anadarko and Williston basins. ARLP currently produces coal from seven mining complexes its subsidiaries operate in Illinois, Indiana, Kentucky, Maryland and West Virginia. ARLP also operates a coal loading terminal on the Ohio River at Mount Vernon, Indiana. ARLP markets its coal production to major domestic and international utilities and industrial users and is currently the second largest coal producer in the eastern United States. In addition, ARLP is positioning itself as an energy provider for the future by leveraging its core technology and operating competencies to make strategic investments in the fast growing energy and infrastructure transition.

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

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

Recent company guidance. Alliance Resource Partners recently provided first quarter EPS guidance. The company expects to report GAAP first quarter net income of $35.0 million to $37.0 million, or $0.27 to $0.28 per unit, inclusive of a negative $27 million net income impact associated with lower coal shipments due to transportation constraints, and a negative $37 million net income impact associated with the one-time conversion of its oil & gas business to a corporate taxable entity.

Updating 2022 estimates. We have revised our model to better reflect current income tax and the treatment of a one-time non-cash deferred income tax expense and liability. We forecast first quarter and full year 2022 GAAP reported net income of $36.1 million and $363.0 million, respectively, or $0.28 per share and $3.15 per share. On an adjusted basis, we forecast first quarter and full year 2022 net income of $73.1 million and $400.8 million, respectively, or $0.57 and $3.15 per share. Our adjusted net income estimate excludes the one-time impact of converting Alliance Minerals to a corporate taxable entity but reflects lower shipments due to transportation constraints….

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. 

Pangaea Logistics (PANL) – Taking Over Coverage

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Monday, May 02, 2022

Pangaea Logistics (PANL)
Taking Over Coverage

Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) provides logistics services to a broad base of industrial customers who require the transportation of a wide variety of dry bulk cargoes, including grains, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite, and limestone. The Company addresses the transportation needs of its customers with a comprehensive set of services and activities, including cargo loading, cargo discharge, vessel chartering, and voyage planning. Learn more at www.pangaeals.com.

Michael Heim, CFA, Senior Research Analyst, Noble Capital Markets, Inc.

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

We are assuming coverage of PANL maintaining an Outperform rating and a $7.50 price target. We believe PANL will do well in a positive Dry Bulk pricing environment given its low order book and expanded fleet. We view the flexibility and a global presence as attributes that will allow it to take advantage of changing shipping demand. Increased liquidity following insider sales makes investing in PANL easier.

Management laid out a positive case for investing in PANL at NobleCon18. In the presentation, CFO Gianni Del Signore stressed that 1) the company is in a unique position to capitalize on an improving dry bulk market, 2) PANL is a good steward of investor capital that grows the business in a sustainable manner, and 3) its integrated platform results in consistent, higher margins. A link to the presentations can be found at Channelchek.com….

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. 

Tokens.com Corp. (SMURF) – Broadening the Scope

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Monday, May 02, 2022

Tokens.com Corp. (SMURF)
Broadening the Scope

Tokens.com Corp is a publicly traded company that invests in Web3 assets and businesses focused on the Metaverse, NFTs, DeFi, and gaming based digital assets. Tokens.com is the majority owner of Metaverse Group, one of the world’s first virtual real estate companies. Hulk Labs, a wholly-owned Tokens.com subsidiary, focuses on investing in play-to-earn revenue generating gaming tokens and NFTs. Additionally, Tokens.com owns and stakes crypto assets to earn additional tokens. Through its growing digital assets and NFTs, Tokens.com provides public market investors with a simple and secure way to gain exposure to Web3.

Joe Gomes, Senior Research 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 Subsidiary. Tokens.com’s management announced that its subsidiary, Metaverse Group, launched a new advisory service practice called Metaverse Advisors. This practice will provide virtual land brokering and consulting services for clients looking to get into virtual worlds. 

More into the Subsidiary. The Company expanded on the services offered with the subsidiary, including software analytics and reporting tools for clients in evaluating virtual land, appraisals, and visitor traffic information (includes time spent in a virtual store or on a property). As the Company has experience across a couple of different worlds, this can be leveraged towards these services….

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. 

Vectrus (VEC) – Notes From The Preliminary Proxy

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Monday, May 02, 2022

Vectrus (VEC)
Notes From The Preliminary Proxy

For more than 70 years, Vectrus has provided critical mission support for our customers’ toughest operational challenges. As a high-performing organization with exceptional talent, deep domain knowledge, a history of long-term customer relationships, and groundbreaking technical expertise, we deliver innovative, mission-matched solutions for our military and government customers worldwide. Whether it’s base operations support, supply chain and logistics, IT mission support, engineering and digital integration, security, or maintenance, repair and overhaul, our customers count on us for on-target solutions that increase efficiency, reduce costs, improve readiness, and strengthen national security. Vectrus is headquartered in Colorado Springs, Colo., and includes about 8,100 employees spanning 205 locations in 28 countries. In 2021, Vectrus generated sales of $1.8 billion. For more information, visit the company’s website at www.vectrus.com or connect with Vectrus on Facebook, Twitter, and LinkedIn.

Joe Gomes, Senior Research 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.

Preliminary Proxy. Vectrus filed a preliminary proxy for its proposed merger with Vertex. As usual, the proxy provides detailed information about the process, financial forecasts, and valuation from the financial advisor’s opinion. In addition, we learn the proposed new Company name, V2X, Inc., and symbol VVX.

Long Train Running. The March announcement of the proposed combination of Vectrus and Vertex is the culmination of a long, winding trip. Vectrus first registered an interest in Vertex, then a subsidiary of L3 Technologies back in 2018, and expressed its interest in Raytheon’s receptiveness to a potential divestiture of certain of its technical services assets comprising the Defense Training and Mission Critical Services business, the assets which were subsequently acquired by Vertex this past December, back in October 2020….

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.