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Brookfield, WI, Dec. 03, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Trident Brands, Inc (“Trident”) (OTCQB: TDNT) announced today that LiUNA Pension Fund of Central and Eastern Canada (“LPF”) through Fengate Trident LP (“Fengate”), the holder of $22.3 million in principal amount of Trident debt, agreed on November 30, 2020 (the “Agreement”) to convert into Trident equity an aggregate of $17.7 million of principal and accrued interest, comprised of $12.3 million in principal amount of convertible notes and $5.4 million of accrued interest.

Under the Agreement, Trident will issue 29,432,320 shares of company preferred stock (“Trident Preferred Stock”) to Fengate in full and complete satisfaction of $12.3 million of convertible notes and $5.4 million of accrued interest (an aggregate of $17,659,392) (representing a conversion rate of $.60 per share). As a result, the $12.3 million of Convertible notes (which were previously convertible into common stock at a conversion price equal to a 25% discount to the average closing price of Trident’s common stock for 10 trading days) will be eliminated.  The Trident Preferred Stock will have certain voting rights, a dividend and liquidation preference, and be entitled upon a sale of the Company (to be further defined in definitive agreements) to receive the same consideration per share as a share of Trident common stock.

The consummation of the conversion transaction is subject to (i) Trident shareholder approval of the authorization and issuance of the Trident Preferred Stock and (ii) Fengate’s obligation to remain in compliance with regulations governing its ownership of voting shares.  There can be no assurance that the conversion transaction will be consummated.

After giving effect to the conversion transaction, Fengate will hold $10 million in principal amount of Trident debt. In addition to the conversion of debt to equity, the Agreement amends the $10 million Notes to (i) eliminate the conversion feature of such Notes, (ii) provide for a simple interest rate of 8% per annum, with the first 2 years of interest payable at maturity of the Amended Notes (November 30, 2025) and the last three years of interest payable quarterly beginning February 28, 2023; and (iii) extend the maturity of such Notes from December 31, 2021 until November 30, 2025.

Upon consummation of the conversion of debt to equity, Trident’s financial condition will have been significantly improved. Balance sheet benefits include reduction of long-term debt by $11 million, elimination of derivative liability (non-cash) ($30 million as of August 31, 2020), and reduction of accrued interest by $5.4 million.

Full details of the Agreement can be found in Trident’s 8-k filing filed with the SEC on December 1, 2020.

Tony Pallante, Chairman and CEO of Trident, stated, “This is a major and very positive restructuring of the Company’s balance sheet with $17.7 million of debt moving into equity. In addition, the remaining debt has been pushed off into long term and not due and payable until December 1, 2025 instead of 2021, giving the company significant runway to achieve its business objectives.”

About Trident Brands, Inc.

Trident Brands Incorporated is a publicly-traded health and wellness nutraceutical company (OTCQB: TDNT), structured to rapidly develop private label, control label, brand label, and proprietary ingredient platforms in the dynamic active nutrition, dietary supplement and functional ingredient categories. For more information, please visit www.tridentbrands.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995 that are not historical facts. These statements can be identified by the use of forward-looking terminology such as “believe,” “expect,” “may,” “will,” “should,” “project,” “plan,” “seek,” “intend,” or “anticipate” or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and the Company’s future performance, operations, and products. Such statements involve known and unknown risks, uncertainties and other factors that could cause the Company’s actual results to differ materially from the results expressed or implied by such statements. Such risks and uncertainties include, without limitation, Trident stockholder approval of the Preferred Shares, regulatory compliance and acceptance of the planned debt conversion by Fengate Trident LLP,  market acceptance of the Company’s forthcoming line of nutritional products; the Company’s compliance with applicable Food and Drug Administration regulations; the Company’s reliance on third-party contractors to mix and produce its products; the Company’s ability to develop an effective marketing strategy; the Company’s ability to control advertising and marketing costs; the Company’s ability to develop and increase awareness of its forthcoming brands; the success of the Company’s marketing focus to retail buyers; the Company’s exposure to product liability claims and intellectual property claims from third parties; and the Company’s reliance on the expected growth in demand for its products. For a discussion of these and other risks and uncertainties see “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s public filings with the SEC. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this press release.

Contact: Trident Brands Incorporated

[email protected]

NEW YORK, Dec. 03, 2020 (GLOBE NEWSWIRE) — SWORD Health has been named to Inc.’s inaugural Best in Business list in the Wellness Services category. Inc. created the Best in Business Awards to honor companies that have gone above and beyond to make a positive difference. 

The list, which can be found in the Winter issue of Inc. (on newsstands December 29, 2020), recognizes small- and medium-size privately held American businesses that have had a superlative impact on their communities, their industries, the environment, or society as a whole. 

Scott Omelianuk, editor-in-chief of Inc., says, “It’s been an incredibly challenging year for companies. Across industries, businesses have had to make brutally tough decisions and face unprecedented uncertainty. That’s why we knew 2020 called for a new recognition program, something to complement our annual Inc. 5000 list of the fastest-growing private companies in the country. For Best in Business, companies have prioritized tackling today’s problems to lead us to a better future, even if they’ve struggled to stay in the black.” 

Inc.’s editors reviewed the companies’ achievements over the past year and noted how they made a positive difference in the world. They then selected honorees in more than 30 different industries–health, software, retail, business services, and more–and in age- and revenue-based categories. The applicant pool was very competitive, with around 2,700 entries and an acceptance rate in the low single digits—a huge success for these honors in their inaugural year.

SWORD Health was recognized for making physical therapy more accessible and affordable, curbing reliance on opioids, reducing inequalities in treatment, and improving physical health outcomes for many who wouldn’t have had the option until now.

“We are proud to be recognized among this group of companies making a positive difference in the world. Musculoskeletal pain is on the rise, and too many Americans are going without care. At SWORD, we believe that everyone should have access to high-quality care, and we’re grateful to Inc. for helping us advance our mission” said Virgílio Bento, Founder and CEO, SWORD Health.

Honorees for gold, silver, bronze, and general excellence across industries and categories are featured online at inc.com/best-in-business.

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About Inc. Media

The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across various channels, including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the Inc. 5000 allows these founders a chance to engage with their peers’ in an exclusive community with the credibility to help drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.

About SWORD Health 

SWORD Health is a digital musculoskeletal (MSK) care provider on a mission to free two billion people from chronic and post-surgical pain. The company’s clinical-grade digital therapy platform pairs expert physical therapists with FDA-listed wearable technology to deliver a personalized treatment plan that is more effective, easier and less expensive than the traditional gold standard of care. SWORD Health believes in the power of people to recover at home, without resorting to imaging, surgeries or opioids. Since launching in 2015, SWORD Health has worked with insurers, health systems and employers in the U.S., Europe and Australia to make quality physical therapy more accessible to everyone. Learn more at swordhealth.com.

Concord, NC, Dec. 03, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Hydromer Inc (HYDI:OTC) has signed an agreement to sell their Hydromer® First Responder® and HydroProtect® liquid and gel sanitizer lines and coming soon their EscenciaProtect® plant-based sanitizer line on stockd®, an e-Commerce marketplace powered by Premier, a leading healthcare improvement company with more than three decades of healthcare purchasing expertise. Effective 10/20/2020, the agreement allows Hydromer® to make products available for purchase on the stockd marketplace. 

Hydromer® will feature their sanitizer lines which include, Hydromer® FirstResponder®, a hospital strong liquid formulation that is 80% v/v denatured ethyl alcohol that kills up to 99.9% of germs, including COVID-19, HydroProtect® gel sanitizer line that is 75% v/v denatured ethyl alcohol, with aloe vera for soothing hands, and proven to kill 99.9% of germs, and EscenciaProtect® which is a patented, “non-alcohol”, plant-based sanitizer line that provides many benefits over the traditional alcohol-based products, including a barrier of soothing moisturizer that protects your hands from harmful germs and bacteria for up to one hour without re-applying, killing many germs including MRSA, Candida Auris, and COVID-19, on the stockd marketplace. Additionally, the stockd marketplace will feature a Hydromer® brand shop at Hydromer’s Shop.

“Hydromer is very excited to be partnering with Premier Inc’s stockd, a leading online marketplace, to provide our highest quality and highly-in demand sanitizing solutions in the fight against the COVID-19 pandemic to a wide variety of clients,” stated Ravi Rangarajan – VP of Sales And Marketing.

stockd® is an online marketplace that connects sellers to buyers. Built by and for healthcare professionals, the stockd marketplace is powered by Premier, a leading healthcare improvement company that unites an alliance of more than 4,000 U.S. hospitals and health systems and approximately 175,000 other providers and organizations to transform healthcare. Harnessing the experience, relationships, and innovative technology of Premier—along with the knowledge of the healthcare community— the stockd marketplace provides an exceptional digital purchasing experience complete with tools and insights to help businesses thrive. Learn more at www.stockd.com.

ABOUT HYDROMER®

We are actively engaged in the fight against COVID-19 pandemic by manufacturing various products that aid in helping save lives, including our antimicrobial anti-fog coatings for PPE, our antimicrobial hydrophilic coatings for medical devices and our sanitizing product line. We are making our alcohol sanitizer products and our patented non-alcohol sanitizers, available under our Hydromer® First Responder® (FDA Registered), HydroProtect® or EscenciaProtect® brands or privately labeled under your own brand to ensure getting these important products, quickly available to end users during the current status of high demand amidst stricter FDA controls. We have pledged to donate hand sanitizer to local first responders with every order.

Hydromer® is a leading global surface modification and coatings solutions provider. As a trusted partner to companies worldwide, our solutions add value to our clients’ products so that they can stand out in the marketplace. We are an innovation-driven, customer-centered organization with a focus on meeting our clients’ needs.

We are a leader in developing coating formulas and processes that meet a market-driven need for greener, more sustainable solutions. We also offer contract coating services, customized coating equipment, contract manufacturing, and turnkey operations backed by outstanding teams of research and development, customer service, and tech support. We are an FDA, GMP/ISO 13485, and ISO 9001 production facility.

Hydromer
800-287-5208
[email protected]

FORT WASHINGTON, Pa., Dec. 03, 2020 (GLOBE NEWSWIRE) — Toll Brothers, Inc. (NYSE: TOL) (www.TollBrothers.com), the nation’s leading builder of luxury homes, through its Toll Brothers Apartment Living® rental subsidiary, and PGIM Real Estate have announced the formation of a new joint venture to develop The Laurent, a 525-unit luxury apartment community in Cambridge, Massachusetts which will include 426 market rate and 99 affordable units. PGIM Real Estate is the real estate investment and financing business of PGIM, the $1.4 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).

The joint venture has secured a $142 million construction loan facility from Wells Fargo Bank, N.A as Admin Agent, and BNY Mellon. The debt and equity financing were arranged by Toll Brothers’ in-house Finance Department.   Toll Brothers Apartment Living will manage the development, marketing, leasing and property management of The Laurent.  

The Laurent is located in the urban, high barrier-to-entry, Alewife area of Cambridge. The Laurent provides exceptional mass transit and vehicular transportation access to downtown Boston, Harvard University, The Massachusetts Institute of Technology and the area’s other world-class academic institutions as well as suburban tech corridors. The Laurent is a 7-story podium building situated on a 5.3-acre site. The community will offer luxury indoor amenities, including a resident lounge, co-working space, work-from-home offices, dining space with entertainment prep kitchen, bar and gaming area, media lounge, fitness center, package reception, pet spa, and underground parking. Outdoor amenities will include a roof terrace, outdoor saltwater pool with cabanas, outdoor gaming, grilling, dining and lounge spaces, and a dog run.

Charles Elliott, President of Toll Brothers Apartment Living, said, “As we expand our significant presence in New England into Cambridge, we are excited to join the robust and resilient submarket. This market continues to thrive on the strength of the academic, biotech, pharmaceutical and technology institutions that call this area home.”

Fred Cooper, Toll Brothers’ Senior Vice President for Finance, International Development and Investor Relations, said, “It is great to be partnering again with PGIM Real Estate to develop this exciting 525-unit community, which includes 99 much-needed affordable units in the Cambridge market. We also thank Wells Fargo and Bank of New York, with whom we have long and multi-faceted relationships, for their vote of confidence in providing a significant loan at this unique moment for the multi-family sector.”

Frank Garcia, Managing Director and Portfolio Manager at PGIM Real Estate, said, “We are thrilled to partner again with Toll Brothers and have the opportunity to deliver best-in-class apartments to the Cambridge community. We’re also excited to add another attractive build-to-core investment to our U.S. core portfolio in a key strategic market that should continue to thrive given its strong, diverse economic demand drivers.”

Please visit www.TollBrothersApartmentLiving.com for future updates and information regarding the community.

ABOUT TOLL BROTHERS

Toll Brothers, Inc., A FORTUNE 500 Company, is the nation’s leading builder of luxury homes. The Company began business over fifty years ago in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The Company serves first-time, move-up, empty-nester, active-adult, affordable luxury and second-home buyers, as well as urban and suburban renters. It operates in 24 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington, as well as in the District of Columbia.

Toll Brothers builds an array of luxury residential single-family detached, attached home, master planned resort-style golf, and urban low-, mid-, and high-rise communities, principally on land it develops and improves. The Company acquires and develops rental apartment and commercial properties through Toll Brothers Apartment Living, Toll Brothers Campus Living, and the affiliated Toll Brothers Realty Trust, and develops urban low-, mid-, and high-rise for-sale condominiums through Toll Brothers City Living. The Company operates its own architectural, engineering, mortgage, title, land development and land sale, golf course development and management, and landscape subsidiaries. Toll Brothers operates its own alarm monitoring company through TBI Smart Home Solutions, a complete home technology division.  In addition to providing security monitoring, TBI Smart Home Solutions offers homeowners a full range of low voltage options, allowing buyers to maximize the potential of technology in their new home. The Company also operates its own lumber distribution, house component assembly, and manufacturing operations. Through its Gibraltar Real Estate Capital joint venture, the Company provides builders and developers with land banking, non-recourse debt and equity capital.

In 2020, Toll Brothers was named World’s Most Admired Home Building Company in Fortune magazine’s survey of the World’s Most Admired Companies®, the sixth year in a row it has been so honored. Toll Brothers has won numerous other awards, including Builder of the Year from both Professional Builder magazine and Builder magazine, the first two-time recipient from Builder magazine. The Company sponsors the Toll Brothers Metropolitan Opera International Radio Network, bringing opera to neighborhoods throughout the world. For more information visit www.TollBrothers.com.

ABOUT TOLL BROTHERS
APARTMENT LIVING®

Toll Brothers Apartment Living (TBAL) is the apartment development division of Toll Brothers, Inc. (NYSE: TOL), an award-winning Fortune 500 company and the nation’s premier builder of luxury homes. Toll Brothers Apartment Living is bringing the same quality, value, and service familiar to luxury home buyers throughout the country to upscale urban and suburban rental communities in select markets, including Atlanta, Boston, Dallas, Los Angeles, New York, Philadelphia, Phoenix and Washington, DC. Toll Brothers Apartment Living has developed more than 6,400 units, has more 4,100 units under management and controls a national pipeline of more than 16,000 units. Toll Brothers Apartment Living communities combine the energy of vibrant locations with unparalleled amenities, resident services, design, and the expertise of the nation’s leading builder of luxury homes. For more information visit www.TollBrothersApartmentLiving.com

ABOUT PGIM
REAL ESTATE

As one of the largest real estate managers in the world with $182.5 billion in gross assets under management and administration¹, PGIM Real Estate strives to deliver exceptional outcomes for investors and borrowers through a range of real estate equity and debt solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the $1.4 trillion global asset management business of Prudential Financial, Inc. (NYSE: PRU).

PGIM Real Estate’s rigorous risk management, seamless execution, and extensive industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing², and the deep local expertise of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that ignite positive environmental and social impact, while pursuing activities that strengthen communities around the world. For more information visit www.pgimrealestate.com.

¹As of September 30, 2020.Net AUM is $121.3 billion and AUA is $40.4 billion. 
²Includes legacy lending through PGIM’s parent company, PFI.

Toll Brothers’


Forward-Looking Statements

This release contains or may contain forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act.  One can identify these statements by the fact that they do not relate to matters of a strictly historical or factual nature and generally discuss or relate to future events.  These statements contain words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “may,” “can,” “could,” “might,” “should,” “will” and other words or phrases of similar meaning. Such statements may include, but are not limited to, information related to market conditions; demand for our homes; anticipated operating results; home deliveries; financial resources and condition; changes in revenues; changes in profitability; changes in margins; changes in accounting treatment; cost of revenues; selling, general and administrative expenses; interest expense; inventory write-downs; home warranty and construction defect claims; unrecognized tax benefits; anticipated tax refunds; sales paces and prices; effects of home buyer cancellations; growth and expansion; joint ventures in which we are involved; anticipated results from our investments in unconsolidated entities; the ability to acquire land and pursue real estate opportunities; the ability to gain approvals and open new communities; the ability to sell homes and properties; the ability to deliver homes from backlog; the ability to start or complete projects, whether or not through joint ventures; the ability to secure materials and subcontractors; the ability to produce the liquidity and capital necessary to expand and take advantage of opportunities; and legal proceedings, investigations and claims.

Any or all of the forward-looking statements included in our reports or public statements made by us are not guarantees of future performance and may turn out to be inaccurate. This can occur as a result of incorrect assumptions or as a consequence of known or unknown risks and uncertainties.  Many factors mentioned in our reports or public statements made by us, such as market conditions, government regulation, and the competitive environment, will be important in determining our future performance.  Consequently, actual results may differ materially from those that might be anticipated from our forward-looking statements.

The factors that could cause actual results to differ from those expressed or implied by our forward-looking statements include, among others: the impact of the COVID-19 pandemic on the economy and the housing industry; demand fluctuations in the housing industry; adverse changes in economic conditions in markets where we conduct our operations and where prospective purchasers of our homes live; increases in cancellations of existing agreements of sale; the competitive environment in which we operate; changes in interest rates or our credit ratings; the availability of capital; uncertainties in the capital and securities markets; the ability of customers to obtain financing for the purchase of homes; the availability and cost of land for future growth; the ability of the participants in various joint ventures to honor their commitments; effects of governmental legislation and regulation; effects of increased taxes or governmental fees; weather conditions; the availability and cost of labor and building and construction materials; the cost of raw materials; the outcome of various product liability claims, litigation and warranty claims; the effect of the loss of key management personnel; changes in tax laws and their interpretation; construction delays; and the seasonal nature of our business.  For a more detailed discussion of these factors, see the risk factors in the information under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent periodic reports filed on Forms 10-K and 10-Q with the SEC.

From time to time, forward-looking statements also are included in our periodic reports on Forms 10-K, 10-Q and 8-K, in press releases, in presentations, on our website and in other materials released to the public.

This discussion is provided as permitted by the Private Securities Litigation Reform Act of 1995, and all of our forward-looking statements are expressly qualified in their entirety by the cautionary statements contained or referenced in this section.

Forward-looking statements speak only as of the date they are made.  We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:
Frederick N. Cooper (215) 938-8312
[email protected]

Caroline Bligh (973) 802-6837
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/51488d95-7de0-489b-889f-c6b2fe5f9bb1