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Euroseas (ESEA) – Intention to Spin Off Older Vessels into a Separate Company

Posted on by cpereira@noblefcm.com


Monday, January 06, 2025

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.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Research Associate, Noble Capital Markets, Inc.

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

Spin-off of older vessels into a new entity. Euroseas announced that it intends to spin off the company’s three older vessels into a separate company, Euroholdings Ltd., which has applied for a listing on the NASDAQ Capital Market. The three unlevered vessels include M/V Aegean Express, M/V Diamantis P, and the M/V Joanna. In exchange for contributing the three vessels, Euroseas will receive 100% of the shares of Euroholdings, which will then be distributed to its shareholders.

Investor conference call. Euroseas does not expect the spin-off to have any impact on its growth strategy or dividend policy and expects to continue modernizing its fleet. Management believes Euroholding’s valuation will be supported by the company’s fleet profile, capital structure, and higher intended dividend distribution policy. Euroseas management will host a conference call and webcast to discuss the spin-off on January 7 at 9:00 a.m. ET.


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

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

E.W. Scripps (SSP) – Executing on Its Asset Monetization Strategy

Posted on by cpereira@noblefcm.com


Monday, January 06, 2025

The E.W. Scripps Company (NASDAQ: SSP) is a diversified media company focused on creating a better-informed world. As one of the nation’s largest local TV broadcasters, Scripps serves communities with quality, objective local journalism and operates a portfolio of 61 stations in 41 markets. The Scripps Networks reach nearly every American through the national news outlets Court TV and Newsy and popular entertainment brands ION, Bounce, Defy TV, Grit, ION Mystery, Laff and TrueReal. Scripps is the nation’s largest holder of broadcast spectrum. Scripps runs an award-winning investigative reporting newsroom in Washington, D.C., and is the longtime steward of the Scripps National Spelling Bee. Founded in 1878, Scripps has held for decades to the motto, “Give light and the people will find their own way.”

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , 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.

Asset Sale. On December 30, the company completed the sale of its San Diego Tower sites to K2 Towers for $20 million and entered into tower space leases with the buyer for $1 million annually. We view the sale as a favorable step toward the company’s asset monetization strategy. The proceeds from the sales is expected to be used to pare down debt.

Asset monetization. Prior to the asset sale announcement, management highlighted that it had letters of intent for roughly $60 million in real estate transactions and is still shopping Bounce, a leading Over The Air (OTA) broadcast network. Notably, we believe Bounce could be worth more than $150 million. We believe that a sale of Bounce could be announced in the first half 2025. 


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

This 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. 

Cocrystal Pharma (COCP) – Influenza Trial To Extend Enrollment, Norovirus Trial Data Expected in 1H25

Posted on by cpereira@noblefcm.com


Monday, January 06, 2025

Cocrystal Pharma, Inc. is a clinical-stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication process of influenza viruses, coronaviruses (including SARS-CoV-2), hepatitis C viruses and noroviruses. Cocrystal employs unique structure-based technologies and Nobel Prize-winning expertise to create first- and best-in-class antiviral drugs. For further information about Cocrystal, please visit www.cocrystalpharma.com.

Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.

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

Phase 2a Trial Enrollment To Be Extended. Cocrystal announced plans to extend enrollment for the Phase 2a clinical trial testing its influenza drug, CC-42344. The trial was designed to infect healthy volunteers with a pharmaceutically prepared H3N2 strain of influenza and then test the drug’s effects against the infection. However, the rate of infection was lower than anticipated, so the effects could not be tested.

Volunteers Did Not Develop Robust Influenza Infections. The trial administered influenza virus to healthy volunteers as planned, but there was an unexpectedly low infection rate. The subjects did not have the influenza measures needed to test CC-42344 efficacy. Cocrystal plans to submit a protocol amendment to the UK’s MHPA to extend the enrollment in the study.


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

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

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

Biden Blocks $14 Billion US Steel Sale to Nippon Steel Over National Security Concerns

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– President Biden blocked the $14 billion sale of US Steel to Nippon Steel, citing national security concerns.
– US Steel and Nippon Steel criticized the decision as political and suggested they may pursue legal action.
– The move highlights bipartisan resistance to foreign acquisitions in critical American industries.

In a decision underscoring Washington’s protectionist stance, President Joe Biden on Friday blocked the $14 billion acquisition of Pittsburgh-based US Steel (X) by Japan’s Nippon Steel, citing national security concerns. The move has created significant uncertainty for the iconic 124-year-old steelmaker, whose shares fell more than 7% in morning trading following the announcement.

President Biden stated that the acquisition would “place one of America’s largest steel producers under foreign control and create risk for our national security and critical supply chains.” This rejection aligns with longstanding concerns over foreign influence on critical U.S. industries, even as the Japanese buyer had committed to retaining the US Steel name, headquarters in Pittsburgh, and making significant investments in its plants.

The decision came after months of review by the Committee on Foreign Investment in the United States (CFIUS), which could not reach a consensus. Biden’s executive order now requires the companies to abandon the deal within 30 days unless extended by CFIUS.

The deal faced fierce opposition from the United Steelworkers union, which argued that the acquisition would harm domestic workers and the nation’s steel production capabilities. Biden echoed this sentiment, emphasizing the need for domestic steelmakers to safeguard national interests.

“We need major US companies representing the major share of US steelmaking capacity to keep leading the fight on behalf of America’s national interests,” Biden stated.

In a joint statement, US Steel and Nippon Steel criticized the decision as a “political” move unsupported by credible national security concerns. They hinted at pursuing legal action, stating, “We are left with no choice but to take all appropriate action to protect our legal rights.”

The companies also highlighted their commitments to new investments and ensuring key directors and executives would remain U.S. citizens. They argued that their pledges would strengthen, not undermine, national security.

This decision reflects a growing trend of economic nationalism in U.S. policy. Both Biden and President-elect Donald Trump opposed the deal, signaling bipartisan resistance to foreign acquisitions of critical American industries.

Analysts suggest the decision could deter foreign companies from investing in the U.S. “It’s been a highly politicized process,” said Josh Spoores, CRU North American steel analyst, who pointed out that the decision sends a chilling message to allied countries.

It remains unclear if US Steel will seek a new buyer or pivot its strategy. The rejection is a significant setback after the company spent much of 2024 lobbying for approval. Meanwhile, the steelmaker must navigate the challenges of remaining competitive in a volatile industry.

The Biden administration’s stance may leave long-lasting implications on U.S.-foreign trade relations, especially as protectionist policies continue to shape economic strategy.

Release – NN, Inc. Announces New Asset-Based Lending Facility

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on NNBR

New ABL facility marks successful next step in Company’s balance sheet optimization strategy

CHARLOTTE, N.C., Jan. 02, 2025 (GLOBE NEWSWIRE) — NN, Inc. (NASDAQ: NNBR), a global diversified industrial company that engineers and manufactures high-precision components and assemblies, announced today that it has entered into an ABL Credit Agreement governing a new asset-backed senior secured revolving credit facility (the “ABL”). The new ABL Credit Agreement will provide NN Inc. with a $50 million revolving credit facility. The proceeds from the new credit facility were applied to refinance outstanding obligations under the company’s existing asset-backed loan credit agreement.

The new ABL Credit Agreement will carry a maturity of the earlier of two dates, between December 30, 2029, or the date that is 90 days prior to the maturity date of the company’s term loan. PNC Bank, N.A. is the underwriter for the transaction.   A summary of the terms of the new credit facility are contained within the company’s recent filing with the Securities and Exchange Commission.

Chris Bohnert, Senior Vice President and Chief Financial Officer commented, “We are pleased to announce the successful refinancing of our revolving credit facility, as this marks an important and positive next step in our comprehensive refinancing efforts. The favorable terms of the new ABL facility reflect the market’s growing confidence in our trajectory, driven by the early success of our company’s enterprise transformation efforts. We thank our lenders for the support shown through this transaction, and we look forward to further advancing our capital structure optimization strategy and utilizing our capital resources to fund our expanding growth programs.”   

About NN, Inc.

NN, Inc., a global diversified industrial company, combines advanced engineering and production capabilities with in-depth materials science expertise to design and manufacture high-precision components and assemblies for a variety of markets on a global basis. Headquartered in Charlotte, North Carolina, NN has facilities in North America, Europe, South America, and Asia. For more information about the company and its products, please visit www.nninc.com. 

FORWARD-LOOKING STATEMENTS

Except for specific historical information, many of the matters discussed in this press release may express or imply projections of revenues or expenditures, statements of plans and objectives or future operations or statements of future economic performance. These statements may discuss goals, intentions and expectations as to future trends, plans, events, results of operations or financial condition, or state other information relating to NN, Inc. (the “Company”) based on current beliefs of management as well as assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “growth,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project,” “trajectory” or other similar words, phrases or expressions. Forward-looking statements involve a number of risks and uncertainties that are outside of management’s control and that may cause actual results to be materially different from such forward-looking statements. Such factors include, among others, general economic conditions and economic conditions in the industrial sector; the impacts of pandemics, epidemics, disease outbreaks and other public health crises, on our financial condition, business operations and liquidity; competitive influences; risks that current customers will commence or increase captive production; risks of capacity underutilization; quality issues; material changes in the costs and availability of raw materials; economic, social, political and geopolitical instability, military conflict, currency fluctuation, and other risks of doing business outside of the United States; inflationary pressures and changes in the cost or availability of materials, supply chain shortages and disruptions, the availability of labor and labor disruptions along the supply chain; our dependence on certain major customers, some of whom are not parties to long-term agreements (and/or are terminable on short notice); the impact of acquisitions and divestitures, as well as expansion of end markets and product offerings; our ability to hire or retain key personnel; the level of our indebtedness; the restrictions contained in our debt agreements; our ability to obtain financing at favorable rates, if at all, and to refinance existing debt as it matures; our ability to secure, maintain or enforce patents or other appropriate protections for our intellectual property; new laws and governmental regulations; the impact of climate change on our operations; and cyber liability or potential liability for breaches of our or our service providers’ information technology systems or business operations disruptions. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in the Company’s filings made with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date of this press release, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements.

Investor Relations: 
Joseph Caminiti or Stephen Poe, Investors 
NNBR@alpha-ir.com  
312-445-2870 

Source: NN, Inc.

AZZ Inc. (AZZ) – Favorable Outlook Through FY 2026; Increasing Estimates

Posted on by cpereira@noblefcm.com


Friday, January 03, 2025

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

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

Corporate guidance for fiscal year 2025. Following AZZ’s strong second quarter earnings report for fiscal year 2025, the company maintained its FY 2025 sales guidance range of $1.525 billion to $1.625 billion, lifted the lower end of adjusted EBITDA to a range of $320 million to $360 million, and increased adjusted diluted EPS expectations to a range of $4.70 to $5.10. During the company’s second quarter investor conference call, management indicated that AZZ had experienced a strong start to the third quarter of fiscal year 2025. Moreover, the tone seemed to indicate that the company’s fiscal year 2025 guidance was grounded in conservative assumptions knowing that the latter half of the fiscal year is generally weaker than the first half due to seasonality. 

Updating estimates.We have increased our FY 2025 EBITDA and EPS estimates to $346.8 million and $5.05, respectively, from $344.8 million and $5.00. The revisions are driven mostly by higher third quarter margin expectations. Our estimates for FY 2026 revenue, EBITDA, and EPS have been increased to $1.675 billion, $371.5 million, and $5.70, respectively, from $1.673 billion, $367.4 million, and $5.60. We think the incoming Trump administration could support pro-growth economic policies that could favorably impact AZZ’s business.


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

*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. 

Biden Administration’s Clean Hydrogen Tax Credit Draws Mixed Reactions from Environmental Groups

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– The Biden administration finalized a tax credit offering up to $3 per kilogram for cleaner hydrogen production under the Inflation Reduction Act.
– Groups cautiously support the move but warn about potential loopholes rewarding “dirty” hydrogen producers.
– Clean hydrogen is expected to aid hard-to-electrify industries like steel manufacturing, aviation, and marine shipping in reducing carbon emissions.

The Biden administration has introduced finalized rules for a tax credit that promises billions of dollars to support cleaner hydrogen production. The rules, released Friday, aim to accelerate the transition away from fossil fuels in industries like transportation, steelmaking, and manufacturing, sectors that are notoriously challenging to decarbonize.

Hydrogen, hailed as a potential clean energy solution, is primarily produced today from natural gas, which emits significant greenhouse gases. However, it can also be produced using renewable or low-emission energy sources like solar, wind, or nuclear power. The new credit, part of the Inflation Reduction Act, is designed to encourage such low-carbon methods.

Under the final rules, producers using renewable energy to split water into hydrogen and oxygen can qualify for the full $3-per-kilogram credit. Producers relying on natural gas may also receive the full credit if they employ carbon capture and sequestration technologies. Alternative methods, such as using biogas or methane from landfills, could also qualify for varying levels of support.

Environmental groups have expressed cautious optimism about the rules. The Clean Air Task Force lauded the policy’s potential to reduce emissions by incentivizing cleaner hydrogen production methods.

“If the hydrogen qualifies for a credit, it means it’s being produced with fewer emissions than the fossil fuels it aims to replace,” said Conrad Schneider, senior director at the Clean Air Task Force.

However, concerns remain. Earthjustice highlighted the risk of “dirty hydrogen” producers exploiting loopholes. Critics worry that hydrogen derived from natural gas, even with carbon capture, might not meet stringent climate goals if methane emissions from gas extraction and transportation are not adequately monitored.

Treasury Deputy Secretary Wally Adeyemo emphasized that the credit, coupled with the Bipartisan Infrastructure Law, represents a transformative step for clean hydrogen development.

“We are advancing the world’s most ambitious policies to support clean hydrogen,” Adeyemo stated, pointing to its potential to replace fossil fuels in hard-to-decarbonize sectors like aviation and marine shipping.

The Fuel Cell & Hydrogen Energy Association, which includes over 100 members across the hydrogen value chain, welcomed the clarity provided by the finalized rules. However, Frank Wolak, the association’s president, expressed uncertainty about how the tax credit would impact industry investment decisions.

“The big question is whether this tax credit will universally spur confidence and drive investments or only work for certain players,” Wolak remarked.

As the clean hydrogen industry begins to navigate this new policy landscape, it faces challenges in ensuring the accurate tracking of emissions, particularly for hydrogen produced using natural gas. The effectiveness of the credit in advancing clean energy solutions while avoiding loopholes remains to be seen.

Unity Software Stock Jumps After ‘Roaring Kitty’ Shares Cryptic Post on Social Media

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Unity Software shares surged nearly 10% after a cryptic post by Keith Gill, known as “Roaring Kitty,” on X.
– The post referenced a Rick James song titled “Unity,” which sparked enthusiasm among meme stock traders.
– Unity’s stock had fallen 45% in 2024 due to controversies, including the “runtime fee” and significant layoffs, but gained $700 million in market value after the surge.

Unity Software (U) saw its stock surge by nearly 10% on Thursday following a cryptic post by Keith Gill, better known as “Roaring Kitty,” on social media platform X. The post, which featured a brief clip of late musician Rick James, sparked enthusiasm among investors and prompted a surge in Unity’s stock price, pushing it as high as $26 on the first trading day of 2025.

Keith Gill’s social media presence has a history of influencing stock prices, as he became widely known during the 2021 meme stock frenzy that led to GameStop’s meteoric rise. Gill, who became a symbol for retail investors during the rally, has since been linked to stock movements that draw the attention of meme stock enthusiasts. His latest post, which referenced a Rick James song titled “Unity,” appears to have reignited similar enthusiasm, particularly among retail investors who tend to follow meme stock trends.

This surge comes at a critical time for Unity Software, which faced a tough year in 2024. The company’s shares fell by nearly 45% last year, following the backlash over its controversial “runtime fee” policy introduced in 2023. The backlash was so severe that Unity had to scrap the pricing model by 2024. Despite this, Unity remains an essential tool for millions of game developers worldwide, powering popular titles like “Pokemon Go,” “Beat Saber,” and “Hearthstone.”

Unity’s challenges were compounded by its decision to lay off about 25% of its workforce in 2024, following 8% job cuts in 2023. These measures were part of Unity’s efforts to focus on profitability amid a difficult market. Yet, the excitement generated by Gill’s post demonstrates the volatility of Unity’s stock and the power of social media in driving investor sentiment.

As Unity gains nearly $700 million in market value from Thursday’s trading gains, industry experts note the role that social media has in shaping stock movements. Art Hogan, chief market strategist at B. Riley Wealth, commented, “The leader of the meme stock post on social media, whether it’s Reddit or X, you’re certainly going to see that reaction by that small army of meme stock players — that’s what we’re seeing again today.” Hogan’s remarks highlight how social media trends continue to impact the stock market, particularly with stocks like Unity, which are viewed as volatile but promising.

Despite the excitement, some industry professionals are wary of the impact of meme stock trading. Thomas Hayes, chairman of Great Hill Capital LLC, cautioned against following trends driven by online communities, saying, “You would think people would have learned by now that playing these silly reindeer games ends in tears … it’s not the way to invest.” Hayes’ remarks reflect concerns about the sustainability of meme stock movements, which are often fueled by speculation rather than fundamentals.

Unity Software’s stock surge is a reminder of the unpredictable nature of meme stock trading, where social media influencers can significantly impact stock prices. While the company’s long-term outlook remains uncertain, Thursday’s surge offers a brief moment of optimism for investors following a challenging year.

Release – PDS Biotechnology Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Posted on by aweinsoff@channelchek.com

Research News and Market Data on PDSB

PRINCETON, N.J., Dec. 06, 2024 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation

Each stock option has an exercise price of $2.25, the closing price of PDS Biotech’s common stock on December 3, 2024. Each stock option vests over a four-year period, with one-quarter of the shares vesting on the first anniversary of the grant date and the remaining shares vesting monthly over the 36-month period thereafter, subject to continued employment with the company through the applicable vesting dates.

About PDS Biotechnology

PDS Biotechnology is a late-stage immunotherapy company focused on transforming how the immune system targets and kills cancers and the development of infectious disease vaccines. The Company plans to initiate a pivotal clinical trial to advance its lead program in advanced HPV16-positive head and neck squamous cell cancers. PDS Biotech’s lead investigational targeted immunotherapy Versamune® HPV is being developed in combination with a standard-of-care immune checkpoint inhibitor, and also in a triple combination including PDS01ADC, an IL-12 fused antibody drug conjugate (ADC), and a standard-of-care immune checkpoint inhibitor.

For more information, please visit www.pdsbiotech.com

Forward Looking Statements

This communication contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning PDS Biotechnology Corporation (the “Company”) and other matters. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the Company’s management, as well as assumptions made by, and information currently available to, management. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” “forecast,” “guidance”, “outlook” and other similar expressions among others. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the Company’s ability to protect its intellectual property rights; the Company’s anticipated capital requirements, including the Company’s anticipated cash runway and the Company’s current expectations regarding its plans for future equity financings; the Company’s dependence on additional financing to fund its operations and complete the development and commercialization of its product candidates, and the risks that raising such additional capital may restrict the Company’s operations or require the Company to relinquish rights to the Company’s technologies or product candidates; the Company’s limited operating history in the Company’s current line of business, which makes it difficult to evaluate the Company’s prospects, the Company’s business plan or the likelihood of the Company’s successful implementation of such business plan; the timing for the Company or its partners to initiate the planned clinical trials for Versamune® HPV, PDS01ADC and other Versamune® and Infectimune® based product candidates; the future success of such trials; the successful implementation of the Company’s research and development programs and collaborations, including any collaboration studies concerning Versamune® HPV, PDS01ADC and other Versamune® and Infectimune® based product candidates and the Company’s interpretation of the results and findings of such programs and collaborations and whether such results are sufficient to support the future success of the Company’s product candidates; the success, timing and cost of the Company’s ongoing clinical trials and anticipated clinical trials for the Company’s current product candidates, including statements regarding the timing of initiation, pace of enrollment and completion of the trials (including the Company’s ability to fully fund its disclosed clinical trials, which assumes no material changes to the Company’s currently projected expenses), futility analyses, presentations at conferences and data reported in an abstract, and receipt of interim or preliminary results (including, without limitation, any preclinical results or data), which are not necessarily indicative of the final results of the Company’s ongoing clinical trials; any Company statements about its understanding of product candidates mechanisms of action and interpretation of preclinical and early clinical results from its clinical development programs and any collaboration studies; the Company’s ability to continue as a going concern; and other factors, including legislative, regulatory, political and economic developments not within the Company’s control. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the other risks, uncertainties, and other factors described under “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in the documents we file with the U.S. Securities and Exchange Commission. The forward-looking statements are made only as of the date of this press release and, except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.  

Versamune® and Infectimune® are registered trademarks of PDS Biotechnology Corporation.

Investor Contact:
Mike Moyer
LifeSci Advisors
Phone +1 (617) 308-4306
Email: mmoyer@lifesciadvisors.com

Media Contact:
Janine McCargo
6 Degrees
Phone +1 (646) 528-4034
Email: jmccargo@6degreespr.com

Release – Aurania Directors Receive Stock Options in Lieu of Fees

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on AUIAF

Toronto, Ontario–(Newsfile Corp. – January 2, 2025) – Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) (“Aurania” or the “Company”) announces that its directors received their quarterly director fees in the form of stock options in lieu of cash for the period ended December 31, 2024.

Directors (the “Optionees“) of the Company have agreed to receive their quarterly director fees for 2024 in the form of stock options in lieu of cash. On December 31, 2024, each director was granted 13,500 stock options at an exercise price of C$0.425. An aggregate of 54,000 stock options were granted to directors in lieu of their director fees for the fourth financial quarter of 2024.

All such options will be exercisable for a period of three years from the date of grant and vested immediately upon grant. In the event an Optionee intends to exercise such Options, such Optionee shall be solely responsible for paying the entirety of the exercise price.

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.sedarplus.ca, 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 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 release.info

SOURCE: Aurania Resources Ltd.

Release – MustGrow Biologics Completes Acquisition of NexusBioAg

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on MGROF

SASKATOON, Saskatchewan, Canada, January 2, 2025 – MustGrow Biologics Corp. (TSXV:MGRO) (OTC:MGROF) (FRA:0C0) (the “Company” or “MustGrow“) is pleased to announce the execution and closing of an Asset Purchase Agreement (the “APA“) dated December 31, 2024 with Univar Solutions Canada Ltd. (“Univar Solutions“) for the acquisition of certain assets that represent NexusBioAg (“NexusBioAg“).

MustGrow’s acquisition of NexusBioAg positions the Company as a fully integrated provider of biological and regenerative agriculture solutions with a sales, marketing and distribution division in Canada and the opportunity to expand the division’s operations into the U.S. The consideration payable to Univar Solutions pursuant to the APA is (i) a deferred cash payment of approximately $1,662,000.00, subject to adjustment in accordance with the terms of the APA; and (ii) earn-out payments equal to a specified percentage amount of gross margin on certain itemized products sold by MGRO in 2025 and 2026. There are no finder fees payable in connection with the acquisition and the parties are acting at arm’s length. The TSX Venture Exchange has conditionally approved the acquisition, subject to customary post-closing requirements.

Under MustGrow, this division will market and sell the existing NexusBioAg product lines, MustGrow’s owned products and technology, and potentially other third-party products. The NexusBioAg sales and marketing team brings extensive experience in the biological and regenerative agriculture sector to MustGrow’s operations, supported by a broad industry network that is uniquely positioned to drive growth and innovation. The NexusBioAg team has well-established relationships with growers, channel partners, and industry influencers. They are adept at commercialization of new biological and regenerative products as well as at leveraging a proven business model. The Company expects significant sales synergies from the acquisition driven by enhanced market access and reduced distribution costs for MustGrow’s owned products and technology.

“This synergistic acquisition solidifies MustGrow’s position as a fully integrated biological and regenerative agriculture company with an established sales, marketing and distribution division offering the existing NexusBioAg product lines and supporting the commercialization of MustGrow’s own innovative products and technologies. Just like MustGrow’s own products and technologies, we are committed to growing the NexusBioAg division and we welcome the new team to MustGrow,” said Corey Giasson, President & CEO of MustGrow.

About NexusBioAg

NexusBioAg, a division of MustGrow, provides an expanded portfolio of crop nutrition solutions, including micronutrients, nitrogen stabilizers, biostimulants, and foliar products. With a diverse collection of inventory and logistics experts, procurement, customer service, agronomists, and sales and marketing experts, NexusBioAg strives to help meet increasingly unique agricultural businesses’ needs. Through these strong capabilities, a collaborative team-oriented approach, and a commitment to agricultural integrity, NexusBioAg is helping customers innovate and grow. Learn more at www.nexusbioag.com.

About MustGrow

MustGrow Biologics Corp. is a fully-integrated provider of innovative biological and regenerative agriculture solutions designed to support sustainable farming. The Company’s proprietary and third-party product lines offer eco-friendly alternatives to restricted or banned synthetic chemicals and fertilizers. In North America, MustGrow offers a portfolio of third-party crop nutrition solutions, including micronutrients, nitrogen stabilizers, biostimulants, and foliar products. These products are synergistically distributed alongside MustGrow’s wholly-owned proprietary products and technologies that are derived from mustard and developed into organic biocontrol and biofertility products to help replace banned or restricted synthetic chemicals and fertilizers. Outside of North America, MustGrow is focused on collaborating with agriculture companies, such as Bayer AG in Europe, the Middle East and Africa, to commercialize MustGrow’s wholly-owned proprietary products and technologies. The Company is dedicated to driving shareholder value through on the commercialization and expansion of its intellectual property portfolio of approximately 112 patents that are currently issued and pending, and the sales and distribution of its proprietary and third-party product lines through NexusBioAg. MustGrow is a public traded company (TSXV-MGRO) and has approximately 51.6 million common shares issued and outstanding and 55.7 million shares fully diluted. For further details, please visit www.mustgrow.ca.

Contact Information

Corey Giasson
Director & CEO
Phone: +1-306-668-2652
info@mustgrow.ca

MustGrow Forward-Looking Statements

Certain statements included in this news release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Examples of forward-looking statements in this news release include, among others, statements MustGrow makes regarding: the potential expansion of the NexusBioAg division’s operations in the U.S.; the precise quantum of the consideration payable to Univar Solutions pursuant to the APA; whether the NexusBioAg division will market and sell the existing NexusBioAg product lines, MustGrow’s owned products and technology, and potentially other third-party products; and the expected significant sales synergies from the acquisition driven by enhanced market access and reduced distribution costs for MustGrow’s owned products and technology. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will occur at all or have the expected consequences to, or effects on, MustGrow. Important factors that could cause MustGrow’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include: any required adjustments to the consideration payable to Univar Solutions pursuant to the APA (in accordance with the terms of the APA); the successful integration of the NexusBioAg division into MustGrow’s existing operations; changes to market conditions as a result of lower farm revenues due to lower yield because of weather events or lower crop prices, delayed planting due to weather impacting the application of additional technologies, reduced farm gate cash flow or credit ratings, higher farm input costs due to inflation, supply chain issues in production and shipping, increased competition from new products or lower prices for competing products, retail consolidation in the agribusiness sector, labour market issues, and third party product supply issues; and the risks described in MustGrow’s Annual Information Form for the year ended December 31, 2023 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available on SEDAR+ at www.sedarplus.ca. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.

Neither the TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.

© 2025 MustGrow Biologics Corp. All rights reserved.

U.S. Unemployment Claims Drop to Lowest Level Since March

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– U.S. unemployment claims fell to 211,000 last week, the lowest since March, indicating strong job security.
– Layoffs remain below pre-pandemic levels, with total unemployment benefits recipients dropping to 1.84 million.
– Despite slower job growth, the labor market remains robust, supported by solid hiring and tempered inflation progress.

The U.S. labor market displayed resilience as unemployment claims fell to 211,000 last week, the lowest since March, according to data released by the Labor Department. This 9,000 drop from the previous week underscores strong job security across the country. The four-week average of claims, which smooths out weekly fluctuations, also declined by 3,500 to 223,250, further highlighting the robustness of the employment landscape.

Economists Thomas Simons and Sam Saliba of Jefferies called the decrease “encouraging” while cautioning that seasonal adjustments around the holidays can sometimes skew data. The total number of Americans receiving unemployment benefits fell sharply by 52,000 to 1.84 million, marking the lowest figure since September.

Despite cooling from the pandemic recovery highs of 2021-2023, the job market remains solid. Through November 2024, employers added an average of 180,000 jobs per month—a significant decline from the record 604,000 average in 2021 but still indicative of a resilient market. The Labor Department’s upcoming December hiring report is expected to show an additional 160,000 jobs, maintaining steady, albeit tempered, growth.

Layoffs, as measured by weekly jobless claims, remain below pre-pandemic levels. Although the unemployment rate has risen to 4.2%, up from the historic low of 3.4% in 2023, it remains relatively modest by historical standards.

The Federal Reserve’s aggressive interest rate hikes in 2022 and 2023 successfully brought inflation down from a 40-year high of 9.1% in mid-2022 to 2.7% by November 2024. This progress allowed the Fed to cut its benchmark interest rates three times in 2024. However, with inflationary pressures persisting above the Fed’s 2% target, central bank policymakers have signaled a more cautious approach to further rate reductions in 2025, planning just two cuts compared to the four projected earlier.

Economists note that while the labor market remains healthy, external factors such as geopolitical tensions and global supply chain disruptions could impact future job growth. Additionally, businesses may adopt a more conservative hiring approach in anticipation of potential economic headwinds, particularly if inflation proves difficult to contain.

The continued strength of the job market, however, has provided a buffer against broader economic challenges. Consumer spending, which drives a significant portion of U.S. economic activity, remains resilient, supported by sustained employment and wage growth. Analysts are closely monitoring upcoming economic indicators to assess whether this stability can be maintained into 2025.

While job creation has slowed and inflationary challenges remain, the current labor market conditions reflect stability and adaptability. As the U.S. navigates high interest rates and cooling economic momentum, sustained low levels of layoffs and steady employment growth demonstrate resilience in the face of evolving economic dynamics.

FAT Brands (FAT) – New Locations

Posted on by cpereira@noblefcm.com


Thursday, January 02, 2025

FAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets, and develops fast casual, quick-service, casual dining, and polished casual dining concepts around the world. The Company currently owns 17 restaurant brands: Round Table Pizza, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli’s, Twin Peaks, Great American Cookies, Hot Dog on a Stick, Buffalo’s Cafe & Express, Hurricane Grill & Wings, Pretzelmaker, Elevation Burger, Native Grill & Wings, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit www.fatbrands.com.

Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , 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.

Business Update. With 2024 coming to a close and the focus on the Twin Hospitality distribution, we wanted to review the ongoing business in terms of new openings for additional expansion. As we have emphasized in the past, the continuing expansion of the overall operating units provides a “cost free” means of improving overall adjusted EBITDA for FAT Brands.

New Openings. Since the beginning of November, or since FAT Brands reported third quarter results, the Company has announced the opening of a number of new locations, including a Hurricane Grill & Wings location in a Six Flags Great Escape Lodge in upstate NY, a Johnny Rockets in the Soaring Eagle Casino Resort in MI, a Pretzelmaker location in Clear Lake, IA, the fifth Round Table Pizza in Reno, NV, and five new locations for Great American Cookies and Marble Slab Creamery in Texas.


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