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Houghton Mifflin Harcourt and Montgomery Public Schools Partner to Bolster Early Literacy with Implementation of AI-Powered Digital Reading Assistant

Amira Learning™ empowers educators and students at Brewbaker Primary School with literacy practice virtually and in-person

PR Newswire

MONTGOMERY, Ala., Nov. 12, 2020 /PRNewswire/ — Montgomery Public Schools has partnered with learning technology company Houghton Mifflin Harcourt to implement Amira Learning™, the first intelligent reading assistant that listens to, assesses and tutors learners to bolster early literacy for its students. Amira‘s state of the art speech recognition and enhanced AI software offers 1:1 reading practice for young learners and administers both an oral reading fluency assessment and a dyslexia screener. 

Launching in Montgomery’s Brewbaker Primary School (BPS), which serves the largest elementary population in Montgomery County, Amira will provide teachers with a high-quality 1:1 reading instruction, practice and tutoring solution as it seeks to build the foundational literacy skills of its 600+ diverse students and deliver marked improvement in reading foundations among English Language Learners. Amira, which can be utilized in both virtual and face-to-face learning environments, will help BPS keep students engaged and on track and safe as it shifts to a hybrid learning model in response to of the COVID-19 pandemic.

“What excites me most about Amira is that it allows us to ensure that our students’ needs are being met on micro-intervention levels,” says BPS Principal Jaclyn Brown Wright. “This level of intense intervention is needed now more than ever since students have developed gaps related to sustained breaks in formal education due to the pandemic. I want my students to have the best 1:1 intervention and support, but it is important that our team of teachers remain safe as well. As a school community, BPS is committed to or mission of ‘making AMAZING happen for kids,’ and we are absolutely thrilled to partner with HMH and Amira.”

“Strengthening our public school system is at the core of our mission to create more opportunity and prosperity for everyone in Montgomery,” says Montgomery Mayor Steven L. Reed. “We are committed to investing in efficacious programs and solutions that will turn around educational outcomes for our students, and we look forward to seeing how Amira can help all students, no matter their background, become strong, confident readers.”

Whether learning in-person or remotely, Amira leverages cutting-edge technology to support reading mastery. By automating scoring and reporting of fluency assessments and creating additional opportunities for virtual tutoring and reading practice, Amira offers educators time back to focus on personalized coaching and skill building.

“HMH is focused on delivering cutting-edge digital solutions that empower educators with actionable insights and simple integration across their teaching and learning ecosystems,” says Matthew Mugo Fields, General Manager, Supplemental and Intervention Solutions at HMH. “We are inspired by Brewbaker’s commitment to improve foundational literacy for its students while also offering extra support as the community adjusts to a hybrid learning environment. Amira will enable teachers at Brewbaker to reclaim and dedicate their valuable time to connecting with and supporting their students in becoming confident readers.”

Amira Learning is the culmination of 20+ years of reading research and applied reading science from leading universities and researchers from Carnegie Mellon University, Johns Hopkins University, and University of Texas Health Sciences. Evidence supporting Amira‘s effectiveness includes more than 100 published research papers and is considered “gold standard.”

About Montgomery Public Schools

Montgomery Public Schools (MPS) is a school district with 53 schools. MPS is guided by a student-first philosophy. Our mission is to provide safe and caring communities where teachers teach and students learn at higher levels. MPS has a variety of academic programs and services to meet the diverse needs and interests of our students. We offer traditional schools with a full range of curriculum complemented by cultural arts, music, foreign languages, technology, career technical education and athletic programs.

About Houghton Mifflin Harcourt

Houghton Mifflin Harcourt (NASDAQ: HMHC) is a learning company committed to delivering connected solutions that engage learners, empower educators and improve student outcomes. As a leading provider of K–12 core curriculum, supplemental and intervention solutions and professional learning services, HMH partners with educators and school districts to uncover solutions that unlock students’ potential and extend teachers’ capabilities. HMH serves more than 50 million students and 3 million educators in 150 countries, while its award-winning children’s books, novels, non-fiction, and reference titles are enjoyed by readers throughout the world. For more information, visit www.hmhco.com.

Follow HMH on Twitter, Facebook and YouTube.

About Amira Learning

The team at Amira Learning has over 30 years of experience in creating widely adopted assessment instruments.  Amira is next-generation software for every educator charged with decision making around early literacy.  Additionally, Amira Practice provides 1:1 reading tutoring for emerging readers both in class and virtually. The software, powered by artificial intelligence is developed in conjunction with researchers from leading universities.  To learn more about Amira, visit www.amiralearning.com.

Contact

Leah Riviere

Director, Communications
Houghton Mifflin Harcourt
617-351-5020
[email protected]

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SOURCE Houghton Mifflin Harcourt

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Sinch Wins Two Gold Global Smarties X Awards From Mobile Marketing Association For Impactful Text For Humanity Campaign

Leader in cloud communications was recognized for innovation in mobile marketing and for spreading positivity before and during COVID-19 pandemic


Seattle, WA and Stockholm, Sweden – Sinch AB (publ) – XSTO: SINCH 

 

November 12, 2020 — 


Sinch
, a global leader in cloud communications for mobile customer engagement, has received two gold global Mobile Marketing Association SMARTIES X awards for its Text For Humanity campaign that enabled people to send a positive message to a stranger – and receive one in return – before and during the COVID-19 pandemic.

 

The SMARTIES awards, judged by the world’s top marketers, honor innovation, creativity, and success. Hundreds of brands, agencies and technology providers submitted for the awards which evaluate creative, strategy, execution and business impact.

 

Sinch, teaming with Mental Health America (MHA) and Edelman, won Gold in the global Messaging and Social Impact/Not For Profit categories. Other campaigns considered in the highly-competitive categories were produced by Google, Dunkin’, Waze, and Unilever, among others.


In early 2020, to take on online negativity, Sinch and its partners created the Text For Humanity switchboard, where individuals anywhere could send a positive message to a stranger and receive one in return. Once the pandemic hit, Text For Humanity allowed anyone to send a message of gratitude to frontline heroes.


Text For Humanity was enabled by WhatsApp, Facebook Messenger and SMS, ensuring that anyone on the planet could participate. The campaign connected people from 85 countries and totaled more than 93,000 positive messages and over 50,000 social shares.

 

Media coverage was broad with an estimated 400 million people reached due to hundreds of outlets reporting on the campaign, including The Today Show, BBC, and Ad Age, among others.

 

Sinch, a global leader with more than 100 billion mobile engagements per year, built Text For Humanity on its proprietary technology that includes Conversation API, a robust omnichannel communication product that empowers businesses and technology platforms to seamlessly engage with consumers on any channel, in any part of the world.

 

“Text for Humanity supported Sinch’s mission to be a purpose-led brand that is driven by passionate people and innovative conversational technology,” said Jonathan Bean, Chief Marketing Officer at Sinch. “Using something as simple, powerful, and ubiquitous as a mobile message, we sought to act on the growing epidemic of social isolation by doing what we do best: connecting people instantaneously, across the globe.

 

”We are proud that our technology was used in such a meaningful way.”

 

Included in the Smarties Social Impact / Not For Profit category are campaigns that create significant social change and/or deliver against a public service. 

 

The Messaging category focuses on the use of chatbots, live agents, SMS/MMS, RCS and business messaging platforms such as Google’s Business Messages, Apple’s Business Chat, WhatsApp, Facebook Messenger, WeChat, Line etc., to powerfully bring a marketing campaign to life.

 

Mental Health America is a leading community-based non-profit that is addressing the needs of those living with mental illness and promoting overall mental health for all.

 

Edelman is a global communications firm that served as the creative agency behind Text For Humanity.

 

About Sinch

Sinch brings businesses and people closer with tools enabling personal engagement. Its leading cloud communications platform lets businesses reach every mobile phone on the planet, in seconds or less, through mobile messaging, voice and video. Sinch is a trusted software provider to mobile operators, and its platform powers business-critical communications for many of the world’s largest companies. Sinch has been profitable and fast-growing since its foundation in 2008. It is headquartered in Stockholm, Sweden, and has local presence in more than 30 countries. Shares are traded at NASDAQ Stockholm: XSTO:SINCH. Visit us at sinch.com.  

 

For further information, please contact: 

 

Jeff Hasen 

Director of Communications 

Sinch 


[email protected]


 

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Newmont Commits to Industry-Leading Climate Targets

Newmont Commits to Industry-Leading Climate Targets

Commits to 30% GHG emissions reductions by 2030 and goal of net zero emissions by 2050

DENVER–(BUSINESS WIRE)–
Today, Newmont Corporation (NYSE: NEM, TSX: NGT) the world’s leading gold mining company, announced industry-leading climate targets of 30% reduction in greenhouse gas (GHG) emissions by 2030, with an ultimate goal of achieving net zero carbon emissions by 2050. The new 2030 target builds upon Newmont’s existing GHG emissions reductions target of 16.5 percent over five years, concluding in 2020.

“At Newmont, we hold ourselves to high standards — from the way in which we govern our business, to how we manage relationships with our stakeholders, to our environmental stewardship and safety practices,” said Tom Palmer, President and CEO of Newmont Corporation. “We fundamentally understand the human contribution to climate change and understand we reap what we sow. It is our responsibility to take care of the resources provided to us. We take these climate change commitments seriously, and make them because our relationship with the planet is absolute. We want a world that is not just sustainable, but thriving for generations to come.”

Using science-based criteria, Newmont has set climate targets for 2021-2030 for its operating sites, including a renewable energy target. The science-based criteria align with Science-Based Targets Initiative (SBTi) criteria and assists Newmont in developing specific emissions reduction pathways and meeting the Paris Agreement objective of being well below 2° Celsius global temperature change.

Newmont’s 2030 Climate Targets* MMTCO2e (2030 vs 2018)**
Absolute Emissions 30%reduction of combined emissions (Scope 1 and 2) 2.31 / 3.30
 
Emissions Intensity 30%reduction of combined emissions intensity (Scope 1 and 2) 0.40 / 0.56
 
JV Asset/Supply Chain Emissions 15%reduction of emissions (Scope 3) 3.60 / 4.23
 
Electric Generation Emissions 10%replacement of fossil fuel-based electricity generation with renewables-based sources 2.97 / 3.30
Newmont’s 2050 Ambition 100%carbon neutral
*Between 1/1/2021 to 12/31/2030; registered under Science-Based Target initiative (SBTi) criteria **Million metric tons of carbon dioxide equivalent; 2030 target from 2018 baseline year

To achieve these aims, the Company will implement a new energy and climate investment standard, to be combined with its existing investment standards including shadow carbon pricing, in order to further inform its capital investment process. This new investment standard will ensure that the 2030 reduction targets are embedded into investment decisions for projects such as fleet vehicles, production equipment, onsite renewable power generation and energy efficiency. Additionally, the Company will engage its partners and joint ventures in an effort to align joint venture operations targets and supply chain related emissions with Newmont’s targets.

Mining is an energy intensive business, with 88 percent of Newmont’s energy used for mining and milling generated from carbon-based fuels. As the Company looks to reduce emissions and move to a low carbon economy, it will use a strategic approach to portfolio development, energy sourcing, fleet and equipment investment, as well as land use planning to achieve its targets.

A key part of Newmont’s accountability in reaching these targets will be reporting via The Climate-Related Financial Disclosures (TCFD) guidelines. In 2021 the Company will issue its first annual TCFD report. The TCFD report will detail Newmont’s governance, strategy and portfolio resilience to a range of climate scenarios. The TCFD report will also track the Company’s annual progress toward implementing its 2030 strategy, meeting its 2030 targets and executing emissions reduction projects across its global portfolio.

At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont’s sustainability strategy and initiatives, go to Beyond the Mine at www.newmont.com.

About Newmont

Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.

Media Contact

Courtney Boone

303.837.5159

[email protected]

Investor Contact

Eric Colby

303.837.5724

[email protected]

KEYWORDS: United States North America Canada Colorado

INDUSTRY KEYWORDS: Natural Resources Environment Mining/Minerals

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Dominique Malenfant, Executive Vice-President and Chief Information and Technology Officer and Rob Reilly, Executive Vice-President and Chief Operating Officer to Address 2020 Scotiabank Transportation and Industrials Conference on November 17

MONTREAL, Nov. 12, 2020 (GLOBE NEWSWIRE) — Dominique Malenfant, Executive Vice-President and Chief Information and Technology Officer and Rob Reilly, Executive Vice-President and Chief Operating Officer of CN (TSX: CNR) (NYSE: CNI), will address the 2020 Scotiabank Transportation and Industrials Conference on November 17, 2020 at 11:05 a.m. Eastern Time (ET).

CN will provide a live audio webcast of all remarks via the Investors’ section of the Company’s website, www.cn.ca/en/investors. A replay of the webcast will be available on the website shortly after the event.

About CN

CN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the Southern tip of the U.S. through a 19,500-mile rail network, CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.



Contacts:



Media

Investment Community
Jonathan Abecassis Paul Butcher
Senior Manager Vice-President
Media Relations Investor Relations
(514) 399-7956
[email protected]		 (514) 399-0052
[email protected]

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Wolters Kluwer Applies AI Technology to Improve Hospital Opioid Use and Patient Safety

Wolters Kluwer Applies AI Technology to Improve Hospital Opioid Use and Patient Safety

Sentri7 delivers patient-specific, real-time Morphine Milligram Equivalent calculation to support opioid stewardship and proactive pain management at hospitals

WALTHAM, Mass.–(BUSINESS WIRE)–Wolters Kluwer, Health has announced its Sentri7 clinical program for hospital opioid stewardship is now powered by artificial intelligence (AI) to optimize inpatient opioid use and increase patient safety. Pharmacists can decrease the risk of opioid-related adverse events, identify opportunities for use of multi-modal (non-opioid) therapies and support earlier discontinuation of opioids.

Part of the Sentri7 AI+ solution, Opioid Stewardship leverages machine learning to continuously analyze complex data sets and automatically calculate a patient-specific, real-time morphine milligram equivalent (MME) for opioid administrations. Sentri7’s evidence-based rules utilize MME and patient-specific data to empower pharmacists’ 24/7 monitoring of opioid use.

“Hospitals are under increasing pressure to address proper use of opioids and we’re helping to empower clinical and quality leaders with the data they need to directly identify high-priority areas for improvement,” said Steven Riddle, PharmD, BCPS, FASHP, Director of Clinical Development. “Wolters Kluwer is applying AI and deep domain expertise to solve critical opioid stewardship challenges for health systems.”

Data shows that the longer a patient takes an opioid and the higher the dose, the likelihood increases that they will continue to use (or abuse) that drug going forward. Hospitals are often where people have their first exposure to opioid agents and therefore are ideal targets for reductions in unnecessary exposure or prolonged use.

In addition to integration of MME values into Sentri7 clinical decision support rules, the Opioid Stewardship Analytics dashboard also incorporates key metrics for managing appropriate opioid use and patient safety issues. These reports provide clinicians, quality specialists, risk managers, and others with in-depth insights, including average MME per patient per day, use per opioid standardized by MME, and trends by prescriber, department and hospital.

The Sentri7 Opioid Stewardship initiative improves overall organizational compliance with the Joint Commission’s Pain Assessment and Management Standards by identifying and monitoring patients at high risk for adverse events, improving use of non-opioid treatments, supporting pain management policies and protocols, and, most notably, creating a performance improvement model focused on opioid use.

Learn more about Wolters Kluwer’s solutions to improve hospitals’ opioid stewardship programs.

About Wolters Kluwer

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the clinicians, nurses, accountants, lawyers, and tax, finance, audit, risk, compliance, and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with advanced technology and services.

Wolters Kluwer reported 2019 annual revenues of €4.6 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,000 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

Wolters Kluwer provides trusted clinical technology and evidence-based solutions that engage clinicians, patients, researchers and students in effective decision-making and outcomes across healthcare. We support clinical effectiveness, learning and research, clinical surveillance and compliance, as well as data solutions. For more information about our solutions, visit https://www.wolterskluwer.com/en/health and follow us on LinkedIn and Twitter @WKHealth.

For more information, visit www.wolterskluwer.com, follow us on Twitter, Facebook, LinkedIn, and YouTube.

Media:

André Rebelo

Public Relations Manager

Wolters Kluwer

+1 781.392.2411

[email protected]

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Health Hospitals Clinical Trials General Health Pharmaceutical Biotechnology

MEDIA:

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Galvanize Taps Into Largest Tech Labor Force in the South with Dallas Campus Launch

Galvanize Taps Into Largest Tech Labor Force in the South with Dallas Campus Launch

DALLAS–(BUSINESS WIRE)–
Recognizing that the Dallas metro area is the largest tech labor force in the South and wanting to increase accessibility for individuals looking to future-proof their careers, Galvanize, a leader in developing talent and capabilities for individuals and corporations in the fields of software engineering and data science, is expanding their reach with the launch of a new Dallas campus in January 2021.

The launch of this new campus will provide students in North Texas with in-person access to leading software engineering programs. Amid growing popularity of Galvanize’s remote offering in Dallas, the new, physical campus is centrally located in the City Center District, with easy access to the DART Light Rail, expanding opportunities for more students to participate in immersive bootcamp programs that prepare them for careers in software engineering.

“After seeing the immense interest in the Dallas area in our remote offerings, we knew we had to take the next step to expand the way we support learners in Texas,” said Galvanize CEO Harsh Patel. “The launch of this campus is a perfect match for the growing tech industry across the state and offers the opportunity for anyone to grow their skills – whether they’re just starting their career or are looking to change paths.”

According to a 2019 survey, the technology industry ranked as the number one economic driver in Dallas. With record unemployment rates across Texas and the U.S., tech is still a growing sector in the state. As the industry expands, the launch of this new campus will serve as a learning space for students of all ages to explore software engineering.

The first cohort of the Dallas campus will coincide with the January 2021 launch. With the Hack Reactor immersive program, students are enrolled in an advanced coding bootcamp that focuses on building autonomous software engineers who are ready for any job in the tech industry. Graduates leave with the expertise needed to tackle unique and unfamiliar problems as well as the knowledge to build complex applications.

As a leading bootcamp education provider in software engineering and data science, Galvanize helps accelerate the careers of technical professionals by teaching the skills need to excel in modern-day software engineering, data analysis, and data engineering roles. Galvanize’s software engineering and data science graduates have been hired by today’s leading innovators across diverse sectors, including Apple, Accenture, Oracle, Spotify, and Tesla.

For more information on the Galvanize Dallas campus and to register for the January cohort, visit galvanize.com/campuses/dallas. To find a Galvanize learning solution near you, visit the Galvanize campuses page.

About Galvanize

Galvanize is a learning community for technology with eight physical campuses across the U.S. where innovative startups, aspiring students, and large enterprises benefit from a dynamic, unique technology ecosystem. Galvanize is an industry leader in technology education, offering the Data Science and Hack Reactor Software Engineering immersive bootcamps that propel careers and help individuals thrive in the digital economy. In addition to its physical campuses, Galvanize offers full-time and part-time immersive bootcamps to individuals remotely, and tailored workforce training to enterprise clients to address each of their unique needs. With 8,000+ graduates, Galvanize alumni have gone on to bring their talents to over 2,250 companies. Galvanize is a subsidiary of K12 Inc. (NYSE: LRN), a premier provider of innovative, high-quality online and blended education solutions, curriculum, and programs to students, schools and enterprises in primary, secondary and post-secondary settings. Learn more at www.galvanize.com.

Media Contact

Emily Riordan

Director, Corporate Communications

K12 Inc.

703-483-7328

[email protected]

KEYWORDS: Texas United States North America

INDUSTRY KEYWORDS: Software Human Resources Data Management Continuing Professional Services Technology Education Training

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Nortech Systems Announces Third-Quarter 2020 Results

Nortech Systems Announces Third-Quarter 2020 Results

MINNEAPOLIS–(BUSINESS WIRE)–Nortech Systems Incorporated (Nasdaq: NSYS) (the “Company”), a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, aerospace & defense and industrial markets, reported net sales of $26.3 million for the third quarter ended September 30, 2020, compared with $30.1 million for the third quarter of 2019.

Operating income for the third quarter of 2020 was $2.7 million which includes a gain on sale of property and equipment of $3.8 million; this compares with operating income of $0.7 million for the third quarter of 2019. Net income for the third quarter of 2020 was $2.0 million, or $0.73 per diluted common share. This compares with net income for the third quarter of 2019 of $0.4 million, or $0.16 per diluted common share. Nortech’s backlog at the end of the third quarter 2020 was $45.8 million.

The Company closed on sale and leaseback agreements with Essjay Investment Company, LLC (“Essjay”) relating to the Company’s manufacturing facilities in Bemidji and Mankato, Minnesota during the third quarter of 2020. The Company received net proceeds from the sale, excluding closing costs, of approximately $6.0 million and recorded a gain on sale of property of equipment of $3.8 million. The Company entered into a lease agreement for the Bemidji, Minnesota facility and the Mankato, Minnesota facility for an initial 15-year term, with multiple 5-year renewal options.

The Nortech Merrifield production facility consolidation is on track and expected to be complete on or before December 31, 2020. By the end of 2020, the Company will shift nearly all of its Printed Circuit Board (PCB) manufacturing to its Mankato, Minnesota production facility, Nortech’s PCB center of excellence, and much of its complex wire and cable assembly production to its Bemidji, Minnesota production facility, Nortech’s wire and cable assembly center of excellence. This consolidation is impacting approximately 60 employees, who have been offered positions at other Nortech facilities in Minnesota and given outplacement assistance.

“Although our third quarter revenue, gross profit and backlog have been impacted by the COVID-19 pandemic, we are pleased with our recent improving bookings trend, and the strides we have proactively made to improve our financial liquidity with our sale and leaseback closing, the PPP loan and the plant consolidation continuing as planned. We expect this will allow us to operate through the current COVID-19 pandemic, invest in the business, create positive momentum for 2021, and succeed long term,” stated Jay D. Miller, Chief Executive Officer and President.

Nortech, in partnership with our medical, industrial and defense customers, uses intelligence, innovation, speed and global expertise to provide manufacturing and engineering solutions. This enables our customers to be leaders in digital connectivity and data management to achieve their business goals. Nortech strives to be a premier workplace that fosters valued relationships internally and in our communities.

About Nortech Systems Incorporated Nortech Systems is a leading provider of design and manufacturing solutions for complex electromedical devices, electromechanical systems, assemblies, and components. Nortech Systems primarily serves the medical, aerospace & defense, and industrial markets. Its design services span concept development to commercial design, and include medical device, software, electrical, mechanical, and biomedical engineering. Its manufacturing and supply chain capabilities are vertically integrated around wire/cable/interconnect assemblies, printed circuit board assemblies, as well as system-level assembly, integration, and final test. Headquartered in Maple Grove, Minn., Nortech currently has seven manufacturing locations and design centers across the U.S., Latin America, and Asia. Nortech Systems is traded on the NASDAQ Stock Market under the symbol NSYS. Nortech’s website is www.nortechsys.com.

Forward-Looking Statements This press release contains forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. While this release is based on management’s best judgment and current expectations, actual results may differ and involve a number of risks and uncertainties. Specifically, the Company states that the consolidation of the Merrifield facility will be completed by year end yielding operational efficiencies and that its booking trend is improving. Important factors that could cause actual results to differ materially from the forward-looking statements include, without limitation: government regulation, volatility in market conditions which may affect market supply of and demand for the company’s products; increased competition; changes in the reliability and efficiency of operating facilities or those of third parties; risks related to availability of labor; commodity and energy cost instability; general economic, financial and business conditions that could affect the company’s financial condition and results of operations; as well as risk factors listed from time to time in the company’s filings with the SEC.

Condensed Consolidated Statements of Operations

(in thousands, except for share data)

 
THREE MONTHS ENDED NINE MONTHS ENDED
September 30, September 30,
Unaudited Unaudited Unaudited Unaudited

2020

 

2019

 

2020

 

2019

 

 

 

 

 

 

 

Net Sales

$

26,362

 

 

$

30,058

 

 

$

80,263

 

 

$

85,515

 

 

 

 

 

 

 

 

Cost of Goods Sold

 

24,716

 

 

 

26,423

 

 

 

73,171

 

 

 

76,594

 

 

 

 

 

 

 

 

Gross Profit

 

1,646

 

 

 

3,635

 

 

 

7,092

 

 

 

8,921

 

 

6.2

%

 

 

12.1

%

 

 

8.8

%

 

 

10.4

%

 

 

 

 

 

 

 

Operating Expenses

 

 

 

 

 

 

 

Selling Expenses

 

594

 

 

 

589

 

 

 

1,945

 

 

 

2,147

 

General and Administrative Expenses

 

2,164

 

 

 

2,333

 

 

 

5,819

 

 

 

7,374

 

Gain on Sale of Property and Equipment

 

(3,821

)

 

 

–

 

 

 

(3,821

)

 

 

–

 

Total Operating Expenses

 

(1,063

)

 

 

2,922

 

 

 

3,943

 

 

 

9,521

 

 

 

 

 

 

 

 

Income (Loss) from Operations

 

2,709

 

 

 

713

 

 

 

3,149

 

 

 

(600

)

 

 

 

 

 

 

 

Interest Expense

 

(126

)

 

 

(256

)

 

 

(526

)

 

 

(780

)

 

 

 

 

 

 

 

Income (Loss) Before Income Taxes

 

2,583

 

 

 

457

 

 

 

2,623

 

 

 

(1,380

)

 

 

 

 

 

 

 

Income Tax (Benefit) Expense

 

612

 

 

 

44

 

 

 

638

 

 

 

122

 

 

 

 

 

 

 

 

Net Income (Loss)

$

1,971

 

 

$

413

 

 

$

1,985

 

 

$

(1,502

)

 

 

 

 

 

 

 

Income (Loss) Per Common Share – Diluted

$

0.73

 

 

$

0.16

 

 

$

0.74

 

 

$

(0.56

)

 

 

 

 

 

 

 

Weighted Average Number of Common Shares Outstanding – Diluted

 

2,703,029

 

 

 

2,657,911

 

 

 

2,678,698

 

 

 

2,667,754

 

Condensed Consolidated Balance Sheets

(in thousands)

 

 

 

September 30,

 

December 31,

 

 

2020

 

2019

 

 

Unaudited

 

Audited

Cash

 

$

328

 

$

351

Restricted Cash

 

 

1,366

 

 

309

Accounts Receivable

 

 

16,019

 

 

18,558

Inventories

 

 

14,496

 

 

14,279

Contract Assets

 

 

7,334

 

 

7,659

Prepaid Expenses and Other Current Assets

 

 

1,274

 

 

2,128

Property and Other Long-term Assets

 

 

15,555

 

 

14,408

Goodwill and Other Long-term Assets, Net

 

 

3,585

 

 

3,718

Total Assets

 

$

59,957

 

$

61,410

 

 

 

 

 

Accounts Payable

 

$

11,213

 

$

14,014

Current Portion of Lease Obligation

 

 

1,266

 

 

1,415

Other Current Liabilities

 

 

5,767

 

 

6,803

Long Term Line of Credit

 

 

2,546

 

 

10,088

Long-term Debt and Other Liabilities

 

 

6,887

 

 

3,297

Long Term Lease Obligation

 

 

10,152

 

 

5,817

Shareholders’ Equity

 

 

22,126

 

 

19,976

Total Liabilities and Shareholders’ Equity

 

$

59,957

 

$

61,410

 

Chris Jones, CFO

[email protected]

952-345-2244

KEYWORDS: Minnesota United States North America

INDUSTRY KEYWORDS: Hardware Health Medical Devices Data Management Engineering Technology Aerospace Manufacturing

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SOL Global Investments Core Portfolio Company Verano Holdings Announces Acquisition and Combination

SOL Global Investments Core Portfolio Company Verano Holdings Announces Acquisition and Combination

Verano Holdings Announces Business Combination with AltMed

TORONTO–(BUSINESS WIRE)–
SOL Global Investments Corp. (“SOL Global” or the “Company“) (CSE: SOL) (OTCPK: SOLCF) (Frankfurt: 9SB) is pleased to announce that Verano Holdings, LLC (“Verano”), the Company’s largest core investment holding, announced today the signing of a definitive merger agreement to acquire and combine operations with Alternative Medical Enterprises, LLC, Plants of Ruskin, LLC, and affiliated companies (collectively, “AltMed”), vertically-integrated medical cannabis companies that apply pharmaceutical industry standards to developing, cultivating, producing, and dispensing medical cannabis and medical cannabis products in Florida and Arizona. The transaction is expected to result in a highly-accretive combination of Verano and AltMed with the resulting company operating under the Verano name.

The transaction will have a significant positive impact on the Company’s recently announced net asset value and the Company will update the market regularly as information is available.

The Company owns approximately 12.6% of Verano as of the date of signing of the merger agreement.

Verano is a leading multi-state owner, developer, operator, and manager of cannabis cultivation, manufacturing, and dispensing licenses offering innovative products to the discerning, high-end customer market. Verano produces a full suite of premium, artisanal cannabis products sold under its consumer brands, including Encore™ Edibles, Avexia™ and Verano™. Verano’s unique Zen Leaf™ branded dispensary environments deliver an elevated cannabis shopping experience in both medical and adult-use markets. Active in 12 U.S. states, with 17 active retail locations and approximately 440,000 square feet of cultivation facilities, Verano has been profitable each year since its founding.

AltMed, founded in 2014 and profitable in recent years, is a fully-integrated medical cannabis company known for its robust research and development pipeline exemplified by its award-winning MÜV™ products and dispensaries. AltMed offers a full range of premium cannabis options developed in its vertically-integrated operations in Arizona and Florida. With 27 active retail locations, AltMed has 220,000 square feet of cultivation facilities in Florida, and 30,000 square feet in Arizona, which is rapidly expanding by an additional 50,000 square feet to meet increased demand.

This transformative transaction is expected to create a market leader in the United States by combining two profitable, fully-integrated platforms with the ability to scale by entering new markets and expanding deeper into existing key markets. The combination will accelerate Verano’s expansion into Florida and Arizona, currently among the largest and fastest-growing cannabis markets in the United States. Following the consummation of the transaction, the combined group of companies will operate under the Verano name and will have the ability to operate in 14 states, with eight cultivation facilities and 44 active retail locations. Approximately 32 additional retail locations are planned.

The combination is expected to result in substantial benefits to AltMed and Verano, including the following reasons for the transaction:

  • Establishes Verano as one of the three largest MSOs in the United States based on 2021 internal projections compared to current FactSet 2021 consensus estimates for revenue and EBITDA.
  • Creates a scale market leader well positioned for growth and accelerates expansion in limited license, high-growth markets – specifically Florida and Arizona.
  • Includes a premium, comprehensive product offering encompassing both medically-focused and lifestyle. Four product brands: Verano™, Avexia™, Encore™, and MÜV™; and two retail brands: Zen Leaf™ and MÜV™.
  • Joins companies with aligned cultures, industry-leading management teams, and best-in-class core competencies of people, processes, research and products.
  • Increases Verano’s reputation as a manufacturer of high-quality products on a large scale by adding similar capabilities in new states.
  • Enhances both companies’ abilities to provide a superior, patient and customer-focused cannabis experience.
  • Combines experienced management teams with significant and diverse industry expertise including pharmaceutical, real estate, manufacturing, agriculture and hospitality, with a proven track record as disciplined cannabis industry operators and good stewards of capital.
  • Increases the combined company’s financial profile with industry-leading margins and profitability.

“We are very excited to see Verano Holdings enter into a highly-accretive business combination,” said SOL Global CFO Paul Kania. “The transaction will allow for two profitable entities to continue their successes together as a leading multi-state operator in high-growth US markets. As our largest core holding, the announced transaction is a positive development for SOL Global shareholders.”

For further information on the transaction, please refer to the press release of Verano Holdings dated November 11, 2020.1 There can be no assurances that the proposed transaction between Verano and AltMed will be completed as proposed or at all.

About SOL Global Investments Corp.:

SOL Global is a diversified investment and private equity holding company engaged in the small and mid-cap sectors. Our investment partnerships range from minority positions to large strategic holdings with active advisory mandates. SOL Global’s seven primary business segments include Retail, Agriculture, QSR & Hospitality, Media Technology & Gaming, Energy, and New Age Wellness.

Non-IFRS Financial Measures

This press release includes reference to net asset value, which is a financial measure that does not have a standardized meaning prescribed by IFRS. Net asset value is calculated as the value of total assets less the value of total liabilities at a specific date. The Company believes this non-IFRS financial measure not only provides management with comparable financial data for internal financial analysis but also provides meaningful supplemental information to investors. In particular, management believes this financial measure can provide information useful to its shareholders in understanding the performance of the Company and may assist in the evaluation of its business relative to that of its peers. Investors are cautioned that this non-IFRS measure should not be construed as an alternative to the measurements calculated in accordance with IFRS as, given its non-standardized meaning, it may not be comparable to similar measures presented by other issuers.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.

The forward-looking information contained in this press release includes, without limitation, the completion of the merger transaction between Verano and AltMed, the transaction resulting in a highly accretive business combination, the anticipation that the transaction will create a market leading multi-state cannabis operator in the United States, the strategic business and expansion plans of the resulting entity and the anticipated effect of the transaction on the Company’s net asset value. Forward-looking information is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management’s perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct.

By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including the failure by Verano or Altmed to obtain all necessary corporate and regulatory approvals, national or regional economic, legal, regulatory and competitive conditions, plans for commercialization, changes in relationships with vendors, access to capital and expectations regarding market acceptance. Other risk factors include: the risks resulting from investing in the US marijuana industry, which may be legal under certain state and local laws but is currently illegal under U.S. federal law; the risks of investing in securities of private companies which may limit the Company’s ability to sell or otherwise liquidate those securities and realize value; reliance on management; the ability of the Company to service its debt; the Company’s ability to obtain additional financing from time to time to pursue its business objectives; competition; litigation; inconsistent public opinion and perception regarding the medical-use and adult-use marijuana industry; and regulatory or political change. Additional risk factors can also be found in the Company’s current MD&A, which has been filed on SEDAR and can be accessed at www.sedar.com.

Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

1https://www.globenewswire.com/news-release/2020/11/11/2124578/0/en/Verano-Holdings-Announces-Agreement-to-Acquire-and-Combine-Operations-with-AltMed-in-Florida-and-Arizona-Creating-One-of-the-Largest-U-S-Private-Cannabis-Companies.html

SOL Global Investments Corp.

Paul Kania, CFO

Phone: (212) 729-9208

Email: [email protected]

KEYWORDS: North America Canada

INDUSTRY KEYWORDS: Health Pharmaceutical

MEDIA:

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IIROC Trade Resumption – IN

Canada NewsWire

TORONTO, Nov. 12, 2020 /CNW/ – Trading resumes in:

Company: InMed Pharmaceuticals Inc.

TSX Symbol: IN

All Issues: Yes

Resumption (ET): 9:50 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

Posted on

Tyler Technologies Signs Statewide Agreement with Nevada for Tyler Supervision

Tyler Technologies Signs Statewide Agreement with Nevada for Tyler Supervision

Solution to be used for adult parole and probation by more than 700 authorized state users

PLANO, Texas–(BUSINESS WIRE)–Tyler Technologies, Inc. (NYSE: TYL) announced today it has signed an agreement for Tyler Supervision™ with the state of Nevada’s Department of Public Safety (DPS), specifically the Nevada Parole and Probation (NPP) Department. NPP is looking to replace its current Offender Information Tracking System (OTIS) with a modern technology environment. The department’s objective is to implement a new solution that will allow users to perform work in a more efficient manner and implement more automated processes.

NPP is currently using a 20-year-old, homegrown application for parole and probation management. The current solution has limited functionality and is not able to update with new features to keep up with the agency’s growing needs. NPP selected Tyler’s solution to help it make a major technological step forward for management of adult parole and probation cases, allowing the agency to coordinate, communicate, record, and track each step of the supervision process.

“Our current system is crucial for tracking parolees and probationers within the state. But the system is antiquated, and it is nearly impossible to make the changes and enhancements required for advanced case management. We are looking forward to implementing a statewide solution that will bring many efficiencies and advanced functionality for parole and probation,” said Captain Tom Lawson, NPP.

Tyler Supervision will replace NPP’s legacy system and allow the agency to better manage its caseloads and department. Given that the Nevada Department of Health and Human Services already uses Tyler Supervision and several Nevada courts utilize Tyler’s Odyssey® case management solution, this project will allow critical data sharing among all agencies, enabling efficiencies across the state. The solution will also bring additional benefits including:

  • Intuitive features such as Voice Biometric telephone check-in using Tyler’s automated Interactive Voice Response (IVR) system to streamline agency management
  • Ability to track fines, fees, and other charges and generate recurring invoices, create a payment plan, and receive payments
  • Ability to see critical case information in one place
  • Advanced CJIS security standards and Amazon GovCloud requirements for data protection
  • 24/7 access through a web-based software-as-a-service (SaaS) solution

“We’re pleased to expand upon our partnership in Nevada by bringing our fully integrated cloud solution, Tyler Supervision, to Nevada’s adult parole and probation processes,” said Rusty Smith, president of Tyler’s Courts & Justice Division. “We understand that this project is NPP’s top technology priority, and we look forward to helping NPP realize its vision of having a comprehensive case management system that is both adaptive to evolving business needs and intuitive for today’s modern users.”

About Tyler Technologies, Inc.

Tyler Technologies (NYSE: TYL) provides integrated software and technology services to the public sector. Tyler’s end-to-end solutions empower local, state, and federal government entities to operate more efficiently and connect more transparently with their constituents and with each other. By connecting data and processes across disparate systems, Tyler’s solutions are transforming how clients gain actionable insights that solve problems in their communities. Tyler has more than 26,000 successful installations across more than 10,000 sites, with clients in all 50 states, Canada, the Caribbean, Australia, and other international locations. Tyler was named to Forbes’ “Best Midsize Employers” list in 2019 and has been recognized three times on Forbes’ “Most Innovative Growth Companies” list. More information about Tyler Technologies, an S&P 500 company headquartered in Plano, Texas, can be found at tylertech.com.

Jennifer Kepler

Tyler Technologies

972.713.3770

[email protected]

KEYWORDS: United States North America Texas Nevada

INDUSTRY KEYWORDS: Courts Data Management Public Policy/Government Law Enforcement/Emergency Services State/Local Technology Software

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