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Release – Onconova Therapeutics Announces Key Management Promotions

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Onconova Therapeutics Announces Key Management Promotions

News and Market Data on Onconova Therapeutics

Mark Guerin promoted to Chief
Operating Officer and Chief Financial Officer

Dr. Adar Makovski Silverstein
promoted to Senior Director and Head of Corporate Development

NEWTOWN, Pa., June 13, 2022 (GLOBE NEWSWIRE) — Onconova Therapeutics, Inc. (NASDAQ: ONTX), a clinical-stage biopharmaceutical company focused on discovering and developing novel products for patients with cancer, today announced that Mark Guerin was appointed Chief Operating Officer in addition to his current role as Onconova’s Chief Financial Officer (CFO), and that Dr. Adar Makovski Silverstein was appointed Senior Director and Head of Corporate Development. Avi Oler, Senior Vice President, Corporate Development and General Counsel, will be leaving the Company on June 17, 2022, to pursue another opportunity outside of the biotechnology sector.

“Mark and Adar have consistently displayed the skills needed to excel in their new roles and functions and I congratulate them on the recognition of the value they bring to Onconova,” said Steven M. Fruchtman, M.D., President and Chief Executive Officer of Onconova. “Expanding their responsibilities will allow us to maximize their talents and further benefit from Mark’s financial and operational expertise, as well as Adar’s scientific and business development acumen. I look forward to our continued work together as we advance towards key milestones expected across our pipeline later this year. I’d also like to thank Avi for his contributions to Onconova and wish him the best in his future endeavors.”

Mr. Guerin has worked in numerous roles at Onconova since he joined the Company in September 2013 following its initial public offering (IPO) in July 2013 and has served as Onconova’s Chief Financial Officer since September 1, 2016. Prior to joining Onconova, Mr. Guerin served as Vice President of Finance and CFO of Cardiokine, Inc. through its filing of a New Drug Application and sale to Cornerstone Therapeutics. Prior to joining Cardiokine, Mr. Guerin was Director, Financial Reporting and Internal Controls at Barrier Therapeutics, Inc., including during its IPO and follow-on offering. Mr. Guerin started his career at Coopers & Lybrand in Philadelphia. He received his bachelor’s degree in Accounting from DeSales University and has earned the CPA, CMA, and CFM professional certifications.

Dr. Makovski Silverstein joined Onconova in December 2021 from Amgen, where she worked as Sr. Licensing Associate, Business Development, External R&D. At Amgen, Dr. Makovski Silverstein was responsible for evaluating external scientific opportunities across all therapeutic areas and managing processes within business development and cross functional teams. Prior to her time at Amgen, Dr. Makovski Silverstein interned as a member of the Research Program Management Team at Regeneron. She also worked as a marketing analyst graduate student consultant at Roche Sequencing Solutions. Dr. Makovski Silverstein earned her Ph.D. in Biotechnology from Bar-Ilan University in Israel and completed a post-doctoral fellowship at the City of Hope in Duarte, California.

About Onconova Therapeutics

Onconova Therapeutics is a clinical-stage biopharmaceutical company focused on discovering and developing novel products for patients with cancer. The Company has proprietary targeted anti-cancer agents designed to disrupt specific cellular pathways that are important for cancer cell proliferation.

Onconova’s novel, proprietary multi-kinase inhibitor narazaciclib (formerly ON 123300) is being evaluated in two separate and complementary Phase 1 dose-escalation and expansion studies. These trials are currently underway in the United States and China.

Onconova’s product candidate rigosertib is being studied in an investigator-sponsored study program, including in a dose-escalation and expansion Phase 1/2a investigator-sponsored study with oral rigosertib in combination with nivolumab for patients with KRAS+ non-small cell lung cancer.

For more information, please visit www.onconova.com.

Forward-Looking Statements

Some of the statements in this release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties. These statements relate to Onconova’s expectations regarding the timing of Onconova’s and investigator-initiated clinical development and data presentation plans, and the mechanisms and indications for Onconova’s product candidates. Onconova has attempted to identify forward-looking statements by terminology including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” “preliminary,” “encouraging,” “approximately” or other words that convey uncertainty of future events or outcomes. Although Onconova believes that the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including the success and timing of Onconova’s clinical trials, investigator-initiated trials and regulatory agency and institutional review board approvals of protocols, Onconova’s collaborations, market conditions and those discussed under the heading “Risk Factors” in Onconova’s most recent Annual Report on Form 10-K and quarterly reports on Form 10-Q. Any forward-looking statements contained in this release speak only as of its date. Onconova undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

Company Contact:
Mark Guerin
Onconova Therapeutics, Inc.
267-759-3680

ir@onconova.us
https://www.onconova.com/contact/

Investor Contact:
Bruce Mackle
LifeSci Advisors, LLC
646-889-1200

bmackle@lifesciadvisors.com


Release – Cypress Development Delivers Solution From Pilot Plant For Testing Production Of Lithium Carbonate And Lithium Hydroxide

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Cypress Development Delivers Solution From Pilot Plant For Testing Production Of Lithium Carbonate And Lithium Hydroxide

Research, News, and Market Data on Cypress Development

June 13, 2022 – Vancouver, Canada – Cypress Development
Corp. (TSXV: CYP) (OTCQX: CYDVF) (Frankfurt: C1Z1) ( “Cypress” or “the Company”) is pleased to report that the  Company’s Lithium Extraction Facility (“Pilot Plant”) in Amargosa Valley, Nevada continues to operate successfully, reaching a milestone in the delivery of concentrated lithium solution to two laboratories in Canada for further testing in the production of lithium products.

“The Company is very pleased to have reached this significant milestone. About 4,000 liters of concentrated lithium chloride solution have been delivered from the Pilot Plant to two Canadian laboratories. Each laboratory is now working to further treat the solutions, one to produce lithium carbonate, and the other, lithium hydroxide, as the final end product,” commented Bill Willoughby, President and CEO of Cypress Development. “These results will then be used to determine what additional steps are needed, if any, to attain battery-grade standards and evaluate the alternatives for producing these products in the ongoing Feasibility Study.”

Pilot Plant

Cypress’ Lithium Extraction Facility in Amargosa Valley, Nevada marked its sixth month of operation with the completion of 11 separate continuous tests conducted on a 24-hour per day basis, over periods ranging from 3 to 14 days. Processing conditions and equipment arrangements in the areas of leaching, filtration, impurity removal, and the Direct Lithium Extraction (DLE) system during the testing periods have been varied to determine the effect of changes. The Pilot Plant will continue to operate during the summer with a work schedule of 7-days on, 5-days off.

“The Pilot Plant operates very well and requires minimal time for start-up,” stated Todd Fayram, President of Continental Metallurgical Services and Qualified Person who oversees process engineering and operations at the Pilot Plant. “For the most part we are using standard equipment with well-established methods in mineral processing. This allows us to efficiently examine changes and reconfigure the process as required.”

The Company is pleased with the progress and results to-date. Recoveries in the Pilot Plant remain as expected, with lithium extraction from claystone in the 80 to 85% range. Tailings testing has preliminarily identified characteristics that will allow for dry stacking with minimal water entrainment. The Pilot Plant is also focused on minimizing water usage and has operated successfully with an emphasis on 100% recycling of all process water streams within the facility.

Qualified Person

Todd Fayram, MMSA-QP is a Qualified Person as defined by National Instrument 43-101 and has approved of the technical information in this release.

About Cypress Development Corp

Cypress Development Corp. is a Canadian based advanced stage lithium company, focused on developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Cypress is in the pilot stage of testing on material from its lithium-bearing claystone deposit and progressing towards completing a feasibility study and permitting, with the goal of becoming a domestic producer of lithium for the growing electric vehicle and battery storage market.

ON BEHALF OF CYPRESS DEVELOPMENT CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer

For further information, please
contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851 | Toll Free: 1 800 567 8181 | Email scacos@cypressdevelopmentcorp.com
www.cypressdevelopmentcorp.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Cautionary Note
Regarding Forward-Looking Statements
This release includes certain statements that may be
deemed to be “forward-looking statements”. Forward-looking
statements are subject to risks, uncertainties and assumptions and are
identified by words such as “expects,”
“estimates,” “projects,” “anticipates,” “believes,” “could,” “scheduled,” and
other similar words. All statements in this release, other than statements
of historical facts, that address events or developments that management of the
Company expects, are forward-looking statements. Although management believes
the expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ materially from
those in the forward-looking statements. The Company undertakes no obligation
to update these forward-looking statements if management’s beliefs, estimates
or opinions, or other factors, should change. Factors that could cause actual
results to differ materially from those in forward-looking statements, include
market prices, exploration, and development successes, continued availability
of capital and financing, and general economic, market or business conditions.
Please see the public filings of the Company at www.sedar.com for further
information.


Release – Sierra Metals Announces Results of Annual General Meeting of Shareholders & Directorate Change

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Sierra Metals Announces Results of Annual General Meeting of Shareholders & Directorate Change

Research, News, and Market Data on Sierra Metals

TORONTO–(BUSINESS WIRE)– Sierra
Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) hereby announces the voting results from the Company’s Annual General Meeting of Shareholders held on Friday, June 10, 2022 (the “AGM”).

A total of 128,416,799 common shares were represented at the meeting, being 78.33% of the Company’s issued and outstanding shares. Shareholders voted in favour of the re-appointment of PricewaterhouseCoopers LLP as auditors for the ensuing year, and the election of management’s nominees as directors.

Detailed results of the votes on the election of directors are as follows:

Director

Votes For

Votes Withheld

Outcome of Vote

Oscar Cabrera

62,316,296 (58.80%)

43,665,198 (41.20%)

Approved

Douglas Cater

62,451,391 (58.93%)

43,530,103 (41.07%)

Approved

Carlos Santa Cruz

62,315,927 (58.80%)

43,665,567 (41.20%)

Approved

Luis Marchese

59,858,436 (56.48%)

46,123,058 (43.52%)

Approved

Robert Neal

62,320,575 (58.80%)

43,660,919 (41.20%)

Approved

Dawn Whittaker

62,498,388 (58.97%)

43,483,106 (41.03%)

Approved

Koko Yamamoto

62,489,360 (58.96%)

43,492,134 (41.04%)

Approved

At the AGM, the shareholders of the Company re-elected each of Oscar Cabrera, Douglas Cater, Carlos Santa Cruz, Luis Marchese, Dawn Whittaker and Koko Yamamoto to the board of directors of the Company (the “Board”). In addition to the re-election of the foregoing directors, the shareholders also elected Robert Neal to join the Board.

Jose Vizquerra, Steven Dean and Dionisio Romero did not stand for re-election at the AGM. Each have been long-standing members of the Board and have seen the Company through several expansions and growth initiatives. Jose joined in 2017 and served as Chair for the past year. Steven has served on the Board since October of 2011 and Dionisio has been a member of the Board since 2015.

“We would like to thank each of Jose, Steven and Dionisio for the valuable time and guidance they have provided to management during their respective tenures on the Board. Their commitment to helping define and execute the Company’s corporate strategic goals is greatly appreciated. We welcome Rob to the Sierra Metals board. His knowledge and experience in capital markets and corporate finance bring a valuable perspective to our board,” commented Luis Marchese, CEO.

About Sierra Metals

Sierra Metals Inc. is a diversified Canadian mining company with Green Metal exposure including increasing copper production and base metal production with precious metals byproduct credits, focused on the production and development of its Yauricocha Mine in Peru, and Bolivar and Cusi Mines in Mexico. The Company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three mines in Peru and Mexico that are within close proximity to the existing mines. Additionally, the Company also has large land packages at all three mines with several prospective regional targets providing longer-term exploration upside and mineral resource growth potential.

The Company’s common shares trade on the Toronto Stock Exchange and the Bolsa de Valores de Lima under the symbol “SMT” and on the NYSE American Exchange under the symbol “SMTS”.

For further information regarding Sierra Metals, please visit 
www.sierrametals.com.

Continue to Follow, Like and Watch our progress:

Web: www.sierrametals.com | Twitter: sierrametals | Facebook: SierraMetalsInc | LinkedIn: Sierra Metals Inc | Instagram: sierrametals

View source version on businesswire.com: https://www.businesswire.com/news/home/20220610005624/en/

Investor Relations
Sierra Metals Inc.
+1 (416) 366-7777
info@sierrametals.com

Ed Guimaraes
CFO

Sierra Metals Inc.
+1(416) 366-7777

Luis Marchese
CEO

Sierra Metals Inc.
+1(416) 366-7777

Source: Sierra Metals Inc.


The Beveridge Curve Indicates Aggressive Fed Action Shouldn’t be Feared

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Image Credit: Mike Mozart (Flickr)


Inflation at 40-Year High Pushes Fed to Get More Aggressive – the ‘Beveridge Curve’ Should Give it Courage to Act

Inflation surged at the fastest pace in over 40 years in May 2022, pushing the Federal Reserve toward a more aggressive pace of interest rate increases to slow it down. While there’s concern it could cause unemployment to spike, a little-known economics indicator suggests the Fed can do so without causing too much economic pain.

The Fed has already raised interest rates twice in recent months – including a half-point hike in early May – in an effort to tame inflation. Yet the consumer price index rose to an annualized rate of 8.6% from 8.3% in April, the Bureau of Labor Statistics reported on June 10. That’s above economic forecasts of 8.2% and the highest reading since December 1981, which is the tail end of the last time the U.S. economy wrestled with ferocious inflation.

In other words, the actions by the central bank so far don’t appear to have had much of an effect.

This article was republished with permission from The Conversation, a news site dedicated to sharing ideas from academic experts. It was written by and represents the research-based opinions of Veronika Dolar, Assistant Professor of Economics, SUNY Old Westbury.

But lifting rates further could come at a cost. Economists fear that raising rates too fast and too steeply would likely put the brakes on economic growth, resulting in an economic recession and soaring unemployment. Yet as an economist who studies inflation, I believe there are several reasons the Fed can more fiercely fight inflation without worrying so much about unemployment.

Slow at the Switch

Economists and investors have been urging the Fed to get more aggressive for many weeks.

Their main argument is that soaring inflation is at least partly the fault of the Fed – and the federal government. U.S. policymakers pursued very aggressive stimulus programs to cushion the economy-pummeling effects of COVID-19. The roughly US$4.6 trillion in stimulus money eventually led to an increase in overall demand for goods and services, which drove up prices at the same time that supply chains were a mess.

Compounding matters, Russia’s invasion of Ukraine has caused a spike in oil and gas prices.

Meanwhile, the Fed has been accused of being slow to take policy actions that could have helped tamed inflation sooner. Even the 0.5 percentage point rate increase in May seems weak in retrospect.

Reasons for Caution

In the Fed’s defense, it has good reason to be cautious. The Fed has what is known as a dual mandate to not only keep inflation in check but to promote maximum employment.

The trouble is, actions intended to reduce inflation can cause unemployment to rise.

And so the Fed has been focused on executing a so-called soft landing, in which it raises interest rates enough to slow inflation but not so much it sends the economy into recession – which would likely result in fewer job vacancies and more Americans without work.

But I think the Fed now has two big reasons to throw its caution to the wind.

Introducing the ‘Beveridge Curve’

The first is what the latest inflation data tells us. Runaway inflation is terrible for an economy, and very painful for consumers, and so the Fed has no choice but to bring it down at whatever cost.

The other has to do with what is known as the Beveridge curve, a tool economists use to analyze the labor market and one increasingly being monitored by Fed Chair Jerome Powell and others.

The Beveridge curve looks at the statistical relationship between the level of unemployment and the number of open job vacancies. The idea behind this curve is pretty straightforward: When there are many unfilled vacancies, the labor market is extremely tight, and it is easy to find work, leading to an extremely low level of unemployment. On the other hand, in a slack market, the number of vacancies is low and it is more difficult to find jobs and the unemployment is high.

In May, there were 11.5 million job vacancies in the U.S. for 6 million unemployed people. This nearly 2-1 ratio is wildly high – the highest ever recorded. In contrast, before the pandemic, when the labor market was in very solid shape, there was one vacancy for every two unemployed people. The Beveridge curve uses rates, so it currently shows a 7.3% job opening rate over a 3.6% unemployment rate.

Historically, a drop in job openings – prompted by a slowing economy, for instance – corresponds with a rise in unemployment, and vice versa. But the pandemic has changed the existing pattern dramatically, and it looks as if unemployment is less responsive to changes in the job opening rate. This means the Fed could get more aggressive about hiking interest rates to curb inflation without worrying so much that a drop in job vacancies due to an economic slowdown will cause unemployment to jump dramatically.

That said, we should also keep in mind that the latest numbers represent a lagging indicator. It takes time for the Fed’s policies to be seen in the data, and for all we know the rate hikes are already having an effect.

Still, I believe the Fed has a strong case for more aggressive action – so don’t be surprised if the U.S. central bank lifts rates by 0.75 percentage point at its next meeting in mid-June. That would be the biggest increase since 1994.


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Great Lakes Dredge & Dock (GLDD) – Bringing Another Ship to Port

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Monday, June 13, 2022

Great Lakes Dredge & Dock (GLDD)
Bringing Another Ship to Port

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, 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.

Building Another. Great Lakes’ management recently announced that the Company exercised a contract option to build a second 6,500 cubic-yard-capacity Trailing Suction Hopper Dredge at the Conrad Shipyard (Conrad) in Amelia, Louisiana. The dredge will be a sister ship to the Galveston Island (expected delivery in 2023), with the dredge expected to be delivered in the first quarter of 2025.

Dredge Details. The new dredge on which the Company has exercised the contract is identical to the Galveston Island, that includes the equipment being used and the build itself. The cost of the ship at agreement was $92.8 million, but the Company estimates that the cost will now be over $100 million when completed due to the rise of steel prices. …

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. 

Comtech Telecommunications (CMTL) – Favorable Risk/Reward Opportunity, Upgrading to Outperform with a $12 PT

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Monday, June 13, 2022

Comtech Telecommunications (CMTL)
Favorable Risk/Reward Opportunity, Upgrading to Outperform with a $12 PT

Comtech Telecommunications Corp. engages in the design, development, production, and marketing of products, systems, and services for advanced communications solutions in the United States and internationally. It operates in three segments: Telecommunications Transmission, Mobile Data Communications, and RF Microwave Amplifiers. The Telecommunications Transmission segment provides satellite earth station equipment and systems, over-the-horizon microwave systems, and forward error correction technology, which are used in various commercial and government applications, including backhaul of wireless and cellular traffic, broadcasting (including HDTV), IP-based communications traffic, long distance telephony, and secure defense applications. The Mobile Data Communications segment provides mobile satellite transceivers, and computers and satellite earth station network gateways and associated installation, training, and maintenance services; supplies and operates satellite packet data networks, including arranging and providing satellite capacity; and offers microsatellites and related components. The RF Microwave Amplifiers segment designs, develops, manufactures, and markets satellite earth station traveling wave tube amplifiers (TWTA) and broadband amplifiers. Its amplifiers are used in broadcast and broadband satellite communication; defense applications, such as telecommunications systems and electronic warfare systems; and commercial applications comprising oncology treatment systems, as well as to amplify signals carrying voice, video, or data for air-to-satellite-to-ground communications. The company serves satellite systems integrators, wireless and other communication service providers, broadcasters, defense contractors, military, governments, and oil companies. Comtech markets its products through independent representatives and value-added resellers. The company was founded in 1967 and is headquartered in Melville, New York.

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.

3Q22 Results. Revenue of $122.1 million, down 12.4% y-o-y, but was up 1.4% sequentially. We had forecast $122 million. Adjusted EBITDA was $11.2 million, or an 9.2% margin, down from $17.7 million and 12.7% last year, although up from $9.9 million in 2Q22. GAAP loss was $1.68 million, or $0.06 per share versus net income of $792,000, or $0.03 per share in 3Q21. Non GAAP EPS was $0.06 versus Non-GAAP EPS of $0.21 last year. We had forecast a GAAP loss of $4.4 million, or $0.17 per share.

Tough Market Conditions. Comtech is working through one of the most difficult operating environments in memory. Global economic struggles, the COVID pandemic, geopolitical conflict, surging inflation, and ongoing supply chain challenges. We expect these conditions to persist into fiscal 2023….

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. 

Both Powell and Yellen are Resolved to Clobber Bond Prices

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Image Credit: eFile989 (Flickr)


As Fed Promises to Orchestrate a Painful Bear Market for Bonds, Stocks Could Benefit

Occasionally I catch conversations on TV, in the press, and on blog sites questioning the Fed’s resolve to fight inflation. Many still wonder if an ongoing weak stock market will cause Chairman Powell to temper his proposed tightening pace. The Fed actually has no official concern over stock prices; however, it does formally try to maintain the stability of the financial system and contain potential crises. Since the value of the financial markets impacts wealth felt by households and capital available for businesses, an argument can be made that sinking the stock market runs counter to one of its three mandates. The fed’s other two mandates are to manage inflation and supervise and regulate the banking system.

This conversation came up the other day as I heard from my son-in-law after he was being advised to allocate more money into fixed-income investments and less to stocks. The reason given by his big-name advisor is that “stocks are entering a long-term bear market.” I personally don’t know if stocks are entering a prolonged bear market or not, but neither does his advisor, such things are not knowable except in the rear view mirror — months from now. 


Source: Koyfin

What is knowable is that the institution that controls the most investments on the planet has stated they are going to crush bond prices. Actually what they said was they will be raising interest rates for the foreseeable future until they bring inflation to less than one-fourth of where it is today. Higher rates are mathematically the exact same as crushing bond prices. And the Federal Reserve has an excellent record of keeping its promises over the past two decades. Transparency and clarity while doing exactly what they say they will do have been the Fed’s M/O under Bernanke, Yellen, and now Powell.

Why then, with negative returns like we see in the chart above, and promises that we are only at the beginning of the bond bear market would an advisor suggest interest-bearing securities? If the Fed does nothing you make 3%, if they do as promised you could easily lose 10% or much more in value. 

At the start of 2022, the 10-year US treasury bond (UST10) had a yield of 1.70%, as of Friday (June 10) it hit 3.15%, which calculates to over a 13.3% decrease in price. Inflation was reported this week to be 8.60%, since we now have had a half year’s worth of data to know that inflation isn’t transitory, bond buyers will require a return of at least future expectations of inflation as their return. Is double the current yield of UST10 within the realm of possibilities? If inflation does not show signs of dropping dramatically it would be a historical oddity if it doesn’t rise to compensate investors for any loss in purchasing power while their money is tied up. 

My son-in-law showed me the exact options that were recommended to him, they were bond funds, which have an even greater set of concerns, including taxes, coupon payments, and total return. I came to realize that I am making an argument for stocks. I’m not bullish on the stock market, there are companies I like, and industries that I’m exposed to, but the market as a whole mid-year 2022 is more uncertain than normal.

The returns shown above are for various bond proxies. Inflation-linked bonds are down 6.60% which means they have underperformed inflation by 15.2%. The poor retiree that bought these has reduced their purchasing power by over 15%. Municipal bonds are down a little more than TIPS, but not as much as government bonds which is interesting since the credit rating of US Treasuries is better. US Treasuries should continue to underperform as the Fed is conducting quantitative tightening along with monetary tightening. This directly impacts treasuries to the tune of  $30 billion fewer held by the Fed each month for each June, July, and August. Then in September, they will begin reducing their treasury holdings by $60 billion each month. Hundreds of billions fewer treasuries will be held by the Fed by year-end, every dollar in par value looking for a new buyer. The treasury lost its biggest customer. 

The last on this list is an ETF I used as a proxy for corporate bonds. Corporate bonds have been loosely tracking the stock market. Up in price when stocks are up, down when stocks are down. Corporates are quoted off their similar maturity treasury (spread to treasury yield), so the overall downward pressure on treasuries is a massive headwind for corporates even if stocks should begin to take flight in the second half of the year. The additional concern with the price movement in corporates is back when rates approached were near 1% in treasuries, many fixed-income buyers, including institutions and retirees, took on more risk to get more yield. As treasury yields rise, they can upgrade the overall credit quality of their portfolio. 

Take Away

If we listen to what the Fed is telling us, and they have given us no reason not to trust them, bond yields will rise. Investors, particularly those in ETFs and bond funds, receive price changes as their return. When interest rates rise, prices go down. So far this year prices have sunk over 10% in US Gov’t bonds, and over 6.50% in TIPS, so-called Treasury Inflation-Protected Securities.

Anyone with money they want to invest that is avoiding the stock market or other asset classes like real estate, or commodities should consider that the bond market is the only asset class the very reliable Fed has told us they plan to beat up. A more advisable plan would be to selectively monitor companies and industries outside of fixed-income while they are cheaper than they have been in a while. Use Channelchek as a resource for evaluating small and microcap names, if you haven’t signed up for access to research, video content, and related articles here is the link to do it for free. 

Paul Hoffman

Managing Editor, Channelchek

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Source

www.koyfin.com

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Factors that Could Now Alter the Russell Final Index for 2022

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Last Week’s Russell Inclusion List Will be Tweaked on Friday

This evening (June 10) and next Friday are days the FTSE Russell Index sets aside in their annual Russell 3000 reconstitution to check their
work. On these two Fridays, The Russell posts updates to its equity index reconstitutions that had been announced last Friday. These updates and adjustments to the original lists provided could occur for a number of reasons. The reactions to stock prices impacted could be strong as these announcements (when they occur) are less predictable and not surrounded by hundreds of other companies being added or deleted. The adjustment announcements will be after 6 pm ET on June 10 and June 17. Below are some of the reasons that FTSE Russell may adjust their newly included companies just a week or two after the initial announcement.

Possible Reasons for Adjustments from the FTSE Russell
Equity Index Guidelines:

  • If an incorrect Closing Price was used, the index would determine if the index constituent still fits within the index, if not, it would replace the company.
  • It is possible for them to have used an incorrect or ineligible company and added it. If discovered, the index would change out the ticker and replace it with the next in line.
  • The currency used to evaluate the company’s market cap may have been incorrect. In this case, the error would have either overstated or understated the market cap. It is recalculated and Russell would re-order where the company stands in relationship to others.
  • Dividend ex-dates can throw a monkey wrench into calculations if not caught. The additional two Fridays give The FTSE Russell a chance to eye any oversights and adjust the index representation.
  • If there is a dividend and the incorrect amount was used to calculate, this would be backed out and recalculated. These would be redone and the company would be slotted accordingly.
  • Ticker Symbol Change, Facebook, or now say Meta just had a ticker symbol change to match the name change. While this company was already included in the larger index, the ticker will be changed to reflect the new identifier.
  • If there is a change in the company (ie: merged, acquired, large divestiture) prior to the third Friday in June, the combined/divided market-cap(s) will be recalculated and positioning adjusted. If both companies were included, it might make room for the inclusion of one more.

A complete list of the Russell index additions announced on June 3, 2021 with the preliminary add-ins can be found here. Many of the companies have already experienced “out of the ordinary” activity in their shares.

Take Away

The annual reconstitution is a significant driver of dramatic shifts in repositioned company stock prices as index portfolio managers have their required holdings adjusted for them. The initial list from FTSE Russell is largely accurate and has a big impact on stocks. Any revisions from there could provide opportunity.  It’s worth paying attention to.

Paul Hoffman

Managing Editor, Channelchek


Suggested Reading



Russell Reconstitution 2022, What Investors Should Know

About the FTSE Russell Preliminary Index Additions & Deletions Membership Lists





Has Summer Driving Season Been Cancelled by High Gas Prices?

Small-Cap Insider Buying Ratio Could Mean a Market Bottom is Near


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Release – Chakana To Exhibit At The Prospectors & Developers Association Conference, Toronto

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Chakana To Exhibit At The Prospectors & Developers Association Conference, Toronto

Research, News, and Market Data on Chakana Copper

Vancouver, B.C., June 10, 2022
– Chakana Copper Corp. (TSX-V: PERU; OTCQB: CHKKF; FRA: 1ZX) (the “Company” or “Chakana”) is pleased to announce that it will be exhibiting at the Prospectors & Developers Association Conference (“PDAC”) at the Metro Convention Centre, 222 Bremner Blvd., Toronto, Ontario June 13 to 15, 2022.

Investors, media, stakeholders and interested parties are invited to visit Chakana at booth number #3325 while at the PDAC.

About
Chakana Copper
Chakana Copper Corp is a Canadian-based minerals exploration company that is currently advancing the Soledad Project located in the Ancash region of Peru, a highly favorable mining jurisdiction with supportive communities. The Soledad Project is notable for the high-grade copper-gold-silver mineralization that is hosted in tourmaline breccia pipes. An initial inferred resource estimate for seven breccia pipes was announced in Q1 2022 (see news release dated February 23, 2022), with 6.73 Mt containing 191,000 ounces of gold, 11.7 million ounces of silver, and 130 million pounds of copper. In addition, extensive multidisciplinary exploration has defined 154 exploration targets, 18 of which have been tested to date (12%), confirming that Soledad is a large, well-endowed mineral system with strong exploration upside.  Chakana’s investors are uniquely positioned as the Soledad Project provides exposure to copper and precious metals. For more information on the Soledad project, please visit the website at www.chakanacopper.com.

Results of an initial resource estimate and additional information concerning the Project, including a technical report prepared in accordance with National Instrument 43-101, are available on Chakana’s profile at www.sedar.com.

Qualified
Person
David Kelley, an officer, and a director of Chakana, and a Qualified Person as defined by NI 43-101, reviewed and approved the technical information in this news release.

ON
BEHALF OF THE BOARD
(signed) “David
Kelley”
David Kelley
President and CEO

For further information contact:
Joanne Jobin, Investor Relations Officer
Phone:  647 964 0292
Email:  
jjobin@chakanacopper.com

 


What SPACs and TV’s “Let’s Make a Deal” Have in Common

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Image Credit: CBS


In a Declining Stock Market, SPACs Could Offer Protection

Let’s say you and a bunch of other investors pool your money and hire an acquisitions expert. This dealmaker uses the large amount of cash raised as leverage to help negotiate a great deal to acquire an existing business. The agreement with the dealmaker is, if he finds something interesting, you will all get to vote on his moving forward for you. If the vote is yes to move forward, and somehow you’re still not interested, you can individually have your money back (less expenses, plus interest earnings).

The risk is that you and the others are tying up money that may have been invested elsewhere (although you can still sell at secondary market levels). In exchange for tying up your money while the expert searches for an acquisition on the group’s behalf, if an acquisition is found you get to opt-in or out, or as mentioned, sell shares if the proposed acquisition creates a spike in share price (potential to profit). If you opt-out, or if an acquisition is not found, the agreement is you get your money back adjusted for expenses and income.

This is the essence of a Special Purpose Acquisition Company or SPAC. Participants in the original SPAC IPO may set themselves on the path to a number of decisions and opportunities along the way. In the end, they may find themselves with the question that Let’s Make a Deal players are asked by the host, “Do you want to keep the cash, or take what’s behind the curtain?” 

Keeping the Cash

As an example, two years ago the largest SPAC ever funded had an IPO at the unusual entry price of $20 per share. Typically SPAC IPOs are priced at $10 per share. There were 200 million shares at $20 sold during the IPO. The sponsor and stockholders agreed to a two-year period within which the sponsor has to target and move toward acquiring a target – or distribute to shareholders the funds held in escrow to make the purchase. 

This SPAC, Pershing Square Tontine Holdings- Class A (PSTH), is now approaching the date when it may be required to distribute the money held in escrow back to current holders of the stock. According to Part I of their Balance Sheet as of March 31, 2022 (SEC 10-Q), the Class A common stock, subject to redemption then had a value of $4,004,044,295. This is an increase from the end of the prior quarter and in excess of the $4 billion that original shareholders paid in.

If the sponsors of PSTH and Chairman and Founder of the hedge fund Pershing Square Tontine Holdings, Bill Ackman, don’t find a match in the next few weeks, they will have to distribute what is likely still over $4 billion held in escrow. This will roughly equal the $20 per share paid at the original IPO. This escrow is effectively a floor on market losses for SPAC investors that get in at the beginning and make decisions on any merger and ownership as they arise.

The money tied up for up to two years does have an opportunity cost. For example, during the duration that PSTH holders took a two-year SPAC ride and now could net almost exactly where they began, the S&P 500 rose 16%.

Behind Curtain #2 and #3

While the S&P did rise 16% since this particular stock went public, the mood of the stock market has since turned and the broader market has suffered losses of 18% so far in 2022.

Original holders of the example SPAC (Pershing Square)  may have hoped for the opportunity to one-day hold shares in stock of a world-changing company with a great future. But there are other owners as well that held it for other reasons. The stock from its first trading day rose and eventually reached a high in February 2021 of $34. For those trading the SPAC IPO, they could have beaten the market despite Pershing’s lack of success in finding an acquisition.

Since July 2021, the stock has been trading below the $20 IPO price, the capital paid in by stockholders has been earning interest in escrow, and any likely distribution may be in excess of where it has been trading for almost 12 months. This would outperform the 2022 S&P 500 returns by nearly 20%.

 

Take Away

Players chosen from the audience of Let’s Make a Deal are provided with an initial prize, often an envelope containing a few hundred dollars. They are then asked if they want to take a chance on something that may be bigger but could be worse. Their risk is limited in that they can always opt-out and know what they have (cash), or if they continue to take a chance, they may wind up with more than they came with.

SPACs are unique with a differing set of risks and potential rewards. A well-chosen name, trading secondarily near or under the original IPO price, limits the investors’ risk in a way other common stock purchases cannot. There is still potential upside as any talk of a merger or actual merger will move the price, but its price movements have low correlation to the overall market. This could be helpful with high volatility.

Particularly noteworthy, especially in a bear market, unlike the overall market potential, there is protection against it dropping substantially.

Paul Hoffman

Managing Editor, Channelchek


Suggested Reading



Hedge Funds are Still Hot on SPACs

SPAC Supply Provides Rare Opportunity





Lifecycle of a Special Purpose Acquisition Company

SPAC Investors Benefit from the Ability to Exercise Different Options

Sources

https://pstontine.com/wp-content/uploads/2020/07/Pershing-Square-Tontine-Holdings-Ltd.-Announces-4000000000-Initial-Public-Offering-at-20.00-Per-Share.pdf

https://sec.report/Document/0001193125-22-143641/#tx317290_5

https://sec.report/Document/0001398432-20-000084/

https://www.nasdaq.com/articles/pershing-square-tontine-holdings-ltd-class-a-shares-close-in-on-52-week-low-market-mover-9

https://stockanalysis.com/stocks/psth/statistics/

https://www.businesswire.com/news/home/20220609005951/en/Pershing-Square-Holdings-Ltd.-Announces-Transactions-in-Own-Shares—9-June-2022


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Release – Le Mans Virtual Series Returns for More Elite Esports Competition Including Award-Winning 24 Hours of Le Mans Virtual

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Le Mans Virtual Series Returns for More Elite Esports Competition Including Award-Winning 24 Hours of Le Mans Virtual

Research, News, and Market Data on Motorsport Games

THE FIVE-ROUND SERIES HAS A US $250,000 PRIZE FUND AT
STAKE AND MORE FLEXIBLE REGULATIONS FOR PRO DRIVERS

MIAMI, June 10, 2022 (GLOBE NEWSWIRE) — Le Mans Virtual
Series, a joint venture between Motorsport Games Inc. (NASDAQ: MSGM) and the Automobile
Club de l’Ouest (ACO), returns this September with more of the elite, endurance esports competition, which has attracted world motor racing champions, captured global attention and received plaudits from teams, drivers and fans alike. The announcement was made today at the official ACO annual press conference ahead of the 90th running of the 24 Hours of Le Mans.

Last year’s successful Le Mans Virtual Series culminated in a thrilling 24 Hours of Le Mans Virtual in January 2022. Multiple major motorsport manufacturers and their drivers entered teams, including Formula 1 World Champion Max Verstappen and INDYCAR Champion Alex Palou among the 200-strong driver line up. An impressive, cumulated TV and digital audience figure of more than 81 million (Source: YouGov Sport) was registered throughout its five month season.

Similar to the 2021/22 series, all five rounds of the coming series will be held online on the rFactor2 platform, including the 24 Hours of Le Mans Virtual, the climax of the premier endurance esports championship. This format allows teams to compete virtually on simulators located all around the world for a total prize fund of US $250,000. For an exciting preview, click 
HERE to view a trailer for Le Mans Virtual Series 2022.

To allow more flexibility within professional drivers’ schedules – now fully restored after the disruption of the global COVID-19 pandemic – a change has been made to the driver requirements. Teams must enter one professional driver in at least one regular round of the series (i.e., Rounds 1-4), instead of being required to drive for the full season.

The 2022/23 calendar features some of the world’s most famous and recognizable racetracks across three continents, which will challenge drivers from the real and sim worlds and thrill the millions of esports enthusiasts around the globe. New for 2022 is the season-opening 8 Hours of Bahrain, a more modern classic which fits in comfortably with the historic and legendary status of Monza, Spa, Sebring and of course, the most iconic venue of them all, Le Mans.

The rounds will be as follows:

 

Round 1

8 Hours of Bahrain, Bahrain  

September 17, 2022

 

Round 2

4 Hours of Monza, Italy

October 8, 2022

 

Round 3

6 Hours of Spa, Belgium 

November 5, 2022

 

Round 4

500 Miles of Sebring, USA 

December 3, 2022

 

Round 5

24 Hours of Le Mans Virtual   

January 14/15, 2023

 

Giving their full and continued support to the Le Mans Virtual Series will be some of the world’s best known and most prestigious brands: 
Thrustmaster as Official Hardware Partner, Rolex as Official Timepiece Partner, Total Energies as Official Energy Partner, 
Goodyear as Official Tire Partner, Algorand as Official Blockchain Partner and LEGO® Technic as Official Engineering Partner.

Pierre Fillon, President of the ACO, commented: “We are very pleased to have supported and followed the success of the Le Mans Virtual Series to date with, as its highlight, the 24 Hours of Le Mans Virtual. The link between real-life motorsport and esports is an essential element for our manufacturers and teams, and we believe it has an important role to play in attracting a new, younger audience both on and off track. We all look forward to another excellent season of esports competition.”

CEO of Le Mans Virtual Series, Gérard Neveu, said: “Last year’s Le Mans Virtual Series was extremely successful and we strive to improve each year. The audience figures and returns we saw in 2021-22 go a long way towards recognizing the support of our impressive portfolio of partners, the collaboration of elite manufacturers and the commitment of the best sim racing teams, including our current champions, Team Redline. We are confident that we will continue to attract champions from all different categories of motorsport and sim racing and that we can produce another exciting and professional esports series for the massive worldwide gaming and spectator audiences to enjoy.”

The vision for the virtual series remains to be as prestigious and recognizable as the real-world FIA World Endurance Championship, which includes the 24 Hours of Le Mans as its cornerstone event. The esports series will continue to use rFactor 2 as its platform, which is focused on the sim racing audience and provides a more authentic racing experience. Le Mans Virtual Series’ focus on increased race and strategy analysis and professional broadcasts of the races is expected to further boost fan interest and engagement. As in previous years, FIA-licensed drivers and sim racing experts compete together in the Le Mans Virtual Series in either LMP or GTE models. More details on the entry list for the Le Mans Virtual Series races, as well as when and where to watch the races, will be revealed at the beginning of September 2022.

About Le Mans Virtual Series:
Le Mans Virtual Series is a global, elite esports series made up of five rounds which bring together endurance racing and sim racing’ top teams to compete online on some of the world’s most famous racetracks. International FIA-licensed real-world drivers are teamed up with leading esports protagonists to take on endurance classics for a total prize fund of US $250,000, culminating in the prestigious 24 Hours of Le Mans Virtual. The Le Mans Virtual Series is a joint venture between leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, Motorsport Games Inc., and the Automobile Club de l’Ouest (ACO) – the creator and organizer of the world-famous 24 Hours of Le Mans and promoter of the FIA World Endurance Championship (FIA WEC). www.lemansvirtual.com

About Motorsport Games:
Motorsport Games Inc., a majority-controlled subsidiary of Motorsport Network, LLC, 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, rFactor 2, KartKraft and the British Touring Car Championship (“BTCC”). 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.

Forward-Looking Statements:
Certain statements in this press release which are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are provided by Motorsport Games Inc. (the “Company”) pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning: (i) full and continued support to the Le Mans Virtual Series from some of the world’s best known and most prestigious brands; (ii) belief that esport has an important role to play in attracting a new, younger audience both on and off track; (iii) the expectation that Le Mans Virtual Series will continue to improve each year; (iv) the expectation that Le Mans Virtual Series will continue to attract champions from all different categories of motorsport and sim racing, and that another exciting and professional esports series will be produced for the massive worldwide gaming and spectator audiences to enjoy; (v) that Le Mans Virtual Series will remain to be as prestigious and recognizable as the real-world FIA World Endurance Championship and that the 24 Hours of Le Mans will remain its cornerstone event; (vi) that the esports series will continue to use rFactor 2 as its platform, and that such platform would provide a more authentic racing experience; (vii) that the Le Mans Virtual Series’ focus on increased race and strategy analysis and professional broadcasts of the races will further boost fan interest and engagement; (viii) that FIA-licensed drivers and sim racing experts will compete together in the Le Mans Virtual Series in either LMP or GTE models; (ix) the expectation that the Company will be successful in building a virtual racing ecosystem where each product drives excitement, every esports event is an adventure and every story inspires; and (x) the expected future impact of new or planned products or offerings and the timing of launching such products and offerings, including, without limitation the Company’s belief that we will deliver against our product roadmap. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Motorsport Games and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to: (i) difficulties, delays or less than expected results in achieving the Company’s growth plans, objectives and expectations, such as due to a slower than anticipated economic recovery and/or the Company’s inability, in whole or in part, to continue to execute its business strategies and plans, such as due to less than anticipated customer acceptance of the Company’s new game titles, the Company’s experiencing difficulties or the inability to launch its games as planned, less than anticipated performance of the games impacting customer acceptance and sales and/or greater than anticipated costs and expenses to develop and launch its games, including, without limitation, higher than expected labor costs and, in addition to the factors set forth in (ii) through (iv) below, the Company’s continuing financial condition and ability to obtain additional debt or equity financing to meet its liquidity requirements, such as the going concern qualification on the Company’s annual audited financial statements posing difficulties in obtaining new financing on terms acceptable to the Company, or at all; (ii) difficulties, delays in or unanticipated events that may impact the timing and scope of new product launches, such as due to difficulties or delays in using its product development personnel in Russia due to the Russia invasion of Ukraine and the related sanctions and/or more restrictive sanctions rendering transacting in the region more difficult or costly and/or difficulties and/or delays arising out of any resurgence of the ongoing and prolonged COVID-19 pandemic; (iii) less than expected benefits from implementing the Company’s management strategies and/or adverse economic, market and geopolitical conditions that negatively impact industry trends, such as significant changes in the labor markets, an extended or higher than expected inflationary environment (such as the impact on consumer discretionary spending as a result of significant increases in energy and gas prices which have been increasing since early in 2020), a higher interest rate environment, tax increases impacting consumer discretionary spending and or quantitative easing that results in higher interest rates that negatively impact consumers’ discretionary spending, or adverse developments relating to the Russia invasion of Ukraine; and/or (iv) difficulties and/or delays in resolving our liquidity position, and other unanticipated difficulties in resolving our continuing financial condition and ability to obtain additional capital to meet our liquidity needs, including without limitation, difficulties in securing funding that is on commercially acceptable terms to us or at all, such as our inability to complete in whole or in part any potential debt and/or equity financing transactions, as well as any inability to achieve cost reductions and/or less than expected availability of funds under its $12 million line of credit from Motorsport Network. Factors other than those referred to above could also cause Motorsport Games’ results to differ materially from expected results. Additional examples of such risks and uncertainties include, but are not limited to: (i) delays and higher than anticipated expenses related to the ongoing and prolonged COVID-19 pandemic, any resurgence of COVID-19 and the Russia invasion of Ukraine; (ii) Motorsport Games’ ability (or inability) to maintain existing, and to secure additional, licenses and other agreements with various racing series; (iii) Motorsport Games’ ability to successfully manage and integrate any joint ventures, acquisitions of businesses, solutions or technologies; (iv) unanticipated operating costs, transaction costs and actual or contingent liabilities; (v) the ability to attract and retain qualified employees and key personnel; (vi) adverse effects of increased competition; (vii) changes in consumer behavior, including as a result of general economic factors, such as increased inflation, higher energy prices and higher interest rates; (viii) Motorsport Games’ ability to protect its intellectual property; and/or (ix) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in Motorsport Games’ filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021, its Quarterly Reports on Form 10-Q filed with the SEC during 2022, as well as in its subsequent filings with the SEC. Motorsport Games anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Motorsport Games assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Motorsport Games’ plans and expectations as of any subsequent date.

Website and Social Media Disclosure:
Investors and others should note that the Company announces 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.

Investors:
Ashley DeSimone
Ashley.Desimone@icrinc.com 

Press:
ASTRSK PR
motorsportgames@astrskpr.com

 


Release – Ocugen, Inc. to Present at BIO International Convention 2022

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Ocugen, Inc. to Present at BIO International Convention 2022

Research, News, and Market Data on Ocugen

MALVERN, Pa., June 09, 2022 (GLOBE NEWSWIRE) — Ocugen, Inc. (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene therapies, biologicals, and vaccines, today announced that Michael Shine, Ocugen’s Senior Vice President, Commercial, will present at the 2022 BIO International Convention being held in San Diego, California, from June 13-16, 2022.

The Company presentation, which is scheduled for Monday, June 13, at 4:45 p.m. PT in Meeting Room 1 of the San Diego Convention Center, will focus on Ocugen’s robust clinical pipeline, including its COVID-19 vaccine candidate, COVAXIN™ (BBV152), its modifier gene therapy programs, and its new cell therapy program, NeoCart®.

About
Ocugen, Inc.
Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene therapies, biologicals and vaccines that improve health and offer hope for people and global communities. We are making an impact through courageous innovation, taking science in new directions in service of patients. Our breakthrough modifier gene therapy platform has the potential to treat multiple diseases with one drug and we are advancing research in other therapeutic areas to offer new options for people with unmet medical needs. Discover more at www.ocugen.com and follow us on Twitter and LinkedIn.

Cautionary
Note on Forward-Looking Statements
This press release
contains forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995, which are subject to risks and
uncertainties. We may, in some cases, use terms such as “predicts,” “believes,”
“potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,”
“plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words
that convey uncertainty of future events or outcomes to identify these
forward-looking statements. Such statements are subject to numerous important
factors, risks and uncertainties that may cause actual events or results to
differ materially from our current expectations. These and other risks and
uncertainties are more fully described in our periodic filings with the Securities
and Exchange Commission (“SEC”), including the risk factors described in the
section entitled “Risk Factors” in the quarterly and annual reports that we
file with the SEC. Any forward-looking statements that we make in this press
release speak only as of the date of this press release. Except as required by
law, we assume no obligation to update forward-looking statements contained in
this press release whether as a result of new information, future events or
otherwise, after the date of this press release.

Contact
Tiberend Strategic Advisors,
Inc.
Jonathan Nugent / Daniel Kontoh-Boateng (Investor)
jnugent@tiberend.com
dboateng@tiberend.com

Dave Schemelia (Media)
dschemelia@tiberend.com


Filament Health (FLHLF) – Collaboration Formed To Develop Additional Botanical Compounds

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Friday, June 10, 2022

Filament Health (FLHLF)
Collaboration Formed To Develop Additional Botanical Compounds

Robert LeBoyer, Vice President, Research Analyst, Life Sciences , Noble Capital Markets, Inc.

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

Filament Forms Collaboration With Jaguar Health.  Filament and Jaguar Health (JAGX, $0.35, Not Rated) have signed a Letter of Intent to develop botanical compounds for psychiatric uses.  We believe Filament’s expertise in extraction and manufacturing technologies fits well with Jaguar’s extensive research in botanical compounds. 

Research Collaboration Will Develop Products For Out-licensing.  The collaboration intends to develop psychoactive compounds for use in mental health indications, such as attention deficit hyperactivity disorder (ADHD), social anxiety disorder, and related conditions. The companies plan to license commercialization rights to drug candidates developed under the collaboration with an equal profit split….

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.