Market Newsdesk

January 27, 2021 7:33 am

LiteLink Signs LOI to Acquire Equity Stake in Canada’s Premier Cryptocurrency Exchange, CatalX

PR Newswire

VANCOUVER, BC, Jan. 27, 2021 /PRNewswire/ – LiteLink Technologies Inc. (“LiteLink” or “the Company”) (CSE: LLT) (OTC: LLNKF) (FRA: C0B:FF), a company focused in emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies. LiteLink is pleased to announce that it has signed a Letter of Intent (the “LOI”) to complete an equity investment in CatalX Exchange Inc. (“CatalX”), Canada’s premier cryptocurrency exchange with over 40+ Altcoins available for purchase on CatalX.io.

CatalX is a Canadian-based FINTRAC registered and compliant digital asset exchange platform that specializes in cryptocurrency trading, blockchain and cybersecurity technology. CatalX has developed a scalable and modularized platform with a trading engine that can scale to millions of users in real time and cutting-edge cyber security system CyberSmoat®, which is patent pending.

Features of the CatalX platform include:

Fully featured exchange order book
$0 deposit fees and immediate funding (post-KYC)
0.15% trading fees
Tightest buy and sell spreads in Canada under 0.1%
Lowest rates to buy BTC in Canada

The proposed equity investment will be satisfied through the issuance of 37,500,000 common shares of LiteLink to CatalX and a cash payment to CatalX of C$500,000, and would result in LiteLink having ownership and control over 19% of the outstanding share capital of CatalX. In conjunction with closing of the investment, LiteLink will also pay a finder’s fee to an arm’s length party of 1,875,000 common shares of LiteLink. All securities issued in connection with the investment in CatalX will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities law.

“We are very excited to make this investment into CatalX, Canada’s leading cryptocurrency exchange, and gaining a stake in the expanding cryptocurrency market,” said LiteLink CEO Peter Green. “CatalX has had an outstanding year and continues to grow. In January 2021 alone, the company experienced 80% growth in new registrations quarter-over-quarter and has already clocked in $1.05 million in deposits in the first 21 days of January.

“In the last five days, CatalX has seen $525,000 in deposits, signaling big things to come moving forward as more and more businesses and investors turn their attention towards the crypto market.”

“CatalX has also experienced significant growth in its trading volumes, with average monthly volume hitting $1.37 million in December 2020. In the first 3.5 weeks of January, the trading volume was sitting at $2.85 million and is projected to reach $5 million for January, a 590% increase from its October/November average of $725,000. In the last five days alone, the trading volume was $1.36 million. In short, this company is growing very quickly.

“It isn’t surprising when you look at the growth of the overall market. Bitcoin just closed out one of the biggest years in its history and is expected to continue rallying in 2021 thanks to a surge of new developments coming into the crypto space this year, including the launch of Facebook’s bitcoin-inspired cryptocurrency and the US cryptocurrency regulations.

“Despite recent price volatility, Bitcoin is still up over 290% in the last year and is expected to stay elevated thanks to growing adoption of crypto among payment giants like PayPal and Square and rising interest among institutional investors.

“At the same time, the world’s second-largest cryptocurrency Ethereum has skyrocketed 300% over the last 12 months amid a flurry of interest in decentralized finance (DeFi)—using crypto technology to recreate traditional financial instruments such as loans and insurance with many DeFi projects built on top of the Ethereum network.

“Cryptocurrency is clearly here to stay, so we are very excited about building a strong relationship with Canada’s leading cryptocurrency exchange.”

The Company is at arms-length from CatalX. Completion of the investment in CatalX is subject to a number of conditions, including, but not limited to, completion of due diligence, negotiation of definitive documentation and the receipt of any required regulatory approvals. The proposed investment is not expected to constitute a fundamental change for the Company, nor is it expected to result in a change of control of the Company, within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange.

LiteLink would also like to announce that it has engaged North Equities to provide and manage a comprehensive six-month digital media marketing campaign for the Company for a total cost of $100,000. The Company has also engaged Djordje Kovic for a digital media and marketing campaign for four months for a total cost of $45,000.

About LiteLink Technologies Inc.

LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) (FRA: C0B:FF) is a company focused on emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies. Led by senior leaders and industry experts, LiteLink invests in and provides subject matter experts within portfolio companies to accelerate success and maximize value for shareholders.

About CatalX Exchange

CatalX.io is a Canadian-based is a digital asset exchange platform that specializes in cryptocurrency trading, blockchain and cybersecurity technology. As a fully regulated Cryptocurrency exchange with FINTRAC, CatalX has the highest standards in security and compliance and is partnered with world-trusted names in Blockchain technologies, risk management and financial solutions including Bittrex, Prime Trust, Trulioo and Stably to provide their users with a trusted, secure platform.

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

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SOURCE LiteLink Technologies Inc.

January 27, 2021 7:33 am

Abbott Reports Fourth-Quarter 2020 Results; Issues Strong Double-Digit Growth Forecast for 2021

– Sales of $10.7 billion, including $2.4 billion of COVID-19 diagnostic testing-related sales

– Sales growth of 28.7 percent; organic sales growth of 28.4 percent

– GAAP diluted EPS from continuing operations growth of 103.4 percent; adjusted diluted EPS growth of 52.6 percent

– Delivered more than 300 million COVID-19 diagnostics tests in fourth quarter 2020

– R&D pipeline continues to be highly productive, delivering ground-breaking innovations and a steady cadence of important new products across all business areas

– Issues 2021 EPS growth forecast of more than 35 percent

PR Newswire

ABBOTT PARK, Ill., Jan. 27, 2021 /PRNewswire/ — Abbott (NYSE: ABT) today announced financial results for the fourth quarter and full year ended Dec. 31, 2020, and issued its financial outlook for 2021.

Fourth-quarter sales of $10.7 billion increased 28.7 percent on a reported basis and 28.4 percent on an organic basis, which excludes the impact of foreign exchange.
Fourth-quarter GAAP diluted EPS was $1.20 and adjusted diluted EPS, which excludes specified items, was $1.45, reflecting 52.6 percent growth versus the prior year.¹
Full-year 2020 GAAP diluted EPS from continuing operations was $2.49 and adjusted diluted EPS from continuing operations was $3.65, at the upper-end of guidance range issued in January 2020.²
Abbott issues full-year 2021 guidance for diluted EPS from continuing operations on a GAAP basis of at least $3.74 and full-year adjusted diluted EPS from continuing operations of at least $5.00, reflecting growth of more than 35 percent versus the prior year.³
In the fourth quarter, global COVID-19 testing-related sales were $2.4 billion, led by combined sales of $1.9 billion from Abbott’s BinaxNOW^™, Panbio^™ and ID NOW^™ rapid testing platforms.
R&D pipeline continued to be highly productive in 2020: U.S. approval of FreeStyle^® Libre 2 and CE Mark of FreeStyle Libre 3 and Libre Sense Glucose Sport Biosensor; CE Mark of MitraClip^® G4, TriClip^™ and Tendyne^™ heart valve devices; U.S. approval of Gallant^™ cardiac rhythm devices; CE Mark of EnSite^™ X 3D cardiac mapping system; portfolio expansions in Nutrition and Established Pharmaceuticals.

“Despite challenging conditions, we achieved double-digit EPS growth, delivered ground-breaking innovation and advanced our new product pipeline in 2020,” said Robert B. Ford, president and chief executive officer, Abbott. “We exited the year with a lot of momentum and are forecasting EPS growth of more than 35 percent in 2021.”

FOURTH-QUARTER BUSINESS OVERVIEW

Note: Management believes that measuring sales growth rates on an organic basis is an appropriate way for investors to best understand the underlying performance of the business. Organic sales growth excludes the impact of foreign exchange.

Following are sales by business segment and commentary for the fourth quarter 2020:

Total Company

($ in millions)

				% Change vs. 4Q19
	Sales 4Q20			Reported			Organic
	U.S.	Int’l	Total	U.S.	Int’l	Total	U.S.	Int’l	Total
Total *	4,199	6,502	10,701	41.8	21.4	28.7	41.8	20.9	28.4
Nutrition	841	1,095	1,936	6.5	1.4	3.6	6.5	2.9	4.4
Diagnostics	1,981	2,364	4,345	158.5	83.0	111.1	158.5	79.6	108.9
Established Pharmaceuticals	—	1,147	1,147	n/a	(2.3)	(2.3)	n/a	3.4	3.4
Medical Devices	1,369	1,888	3,257	(2.5)	4.9	1.7	(2.5)	1.2	(0.4)


* Total Q4 2020 Abbott sales from continuing operations include Other Sales of approximately $16 million.

				% Change vs. 12M19
	Sales 12M20			Reported			Organic
	U.S.	Int’l	Total	U.S.	Int’l	Total	U.S.	Int’l	Total
Total *	13,022	21,586	34,608	14.2	5.3	8.5	14.2	7.3	9.8
Nutrition	3,279	4,368	7,647	5.4	1.6	3.2	5.4	4.2	4.7
Diagnostics	4,774	6,031	10,805	65.3	25.0	40.1	65.3	25.8	40.6
Established Pharmaceuticals	—	4,303	4,303	n/a	(4.1)	(4.1)	n/a	1.9	1.9
Medical Devices	4,931	6,856	11,787	(8.2)	(0.1)	(3.7)	(8.2)	(0.3)	(3.8)

* Total 12M 2020 Abbott sales from continuing operations include Other Sales of approximately $66 million.

n/a = Not Applicable.

Note: In order to compute results excluding the impact of exchange rates, current year U.S. dollar sales are multiplied or divided, as appropriate, by the current year average foreign exchange rates and then those amounts are multiplied or divided, as appropriate, by the prior year average foreign exchange rates.

Fourth-quarter 2020 worldwide sales of $10.7 billion increased 28.7 percent on a reported basis and 28.4 percent on an organic basis.

Nutrition

($ in millions)

				% Change vs. 4Q19
	Sales 4Q20			Reported			Organic
	U.S.	Int’l	Total	U.S.	Int’l	Total	U.S.	Int’l	Total
Total	841	1,095	1,936	6.5	1.4	3.6	6.5	2.9	4.4
Pediatric	497	511	1,008	5.2	(9.5)	(2.8)	5.2	(8.4)	(2.2)
Adult	344	584	928	8.4	13.4	11.5	8.4	15.3	12.7

				% Change vs. 12M19
	Sales 12M20			Reported			Organic
	U.S.	Int’l	Total	U.S.	Int’l	Total	U.S.	Int’l	Total
Total	3,279	4,368	7,647	5.4	1.6	3.2	5.4	4.2	4.7
Pediatric	1,987	2,140	4,127	5.8	(6.2)	(0.8)	5.8	(4.1)	0.3
Adult	1,292	2,228	3,520	4.9	10.5	8.4	4.9	13.6	10.3

Worldwide Nutrition sales increased 3.6 percent on a reported basis and 4.4 percent on an organic basis in the fourth quarter. Strong performance of Ensure^®, Abbott’s market-leading complete and balanced nutrition brand, and Glucerna^®, Abbott’s market-leading diabetes nutrition brand, led to global Adult Nutrition sales growth of 11.5 percent on a reported basis and 12.7 percent on an organic basis. In Pediatric Nutrition, U.S. sales growth of 5.2 percent was led by share growth of Similac^®, Abbott’s infant formula brand, which was offset by challenging conditions in Greater China.

Diagnostics

($ in millions)

				% Change vs. 4Q19
	Sales 4Q20			Reported			Organic
	U.S.	Int’l	Total	U.S.	Int’l	Total	U.S.	Int’l	Total
Total	1,981	2,364	4,345	158.5	83.0	111.1	158.5	79.6	108.9
Core Laboratory	326	997	1,323	10.9	4.3	5.9	10.9	3.3	5.1
Molecular	192	290	482	427.0	263.1	314.5	427.0	254.2	308.3
Point of Care	91	38	129	(11.9)	14.2	(5.5)	(11.9)	12.3	(6.0)
Rapid Diagnostics	1,372	1,039	2,411	312.2	366.2	333.9	312.2	354.0	329.0

				% Change vs. 12M19
	Sales 12M20			Reported			Organic
	U.S.	Int’l	Total	U.S.	Int’l	Total	U.S.	Int’l	Total
Total	4,774	6,031	10,805	65.3	25.0	40.1	65.3	25.8	40.6
Core Laboratory	1,166	3,309	4,475	7.3	(7.3)	(3.9)	7.3	(5.9)	(2.8)
Molecular	621	817	1,438	315.5	178.8	224.9	315.5	179.9	225.7
Point of Care	369	147	516	(15.9)	20.2	(8.0)	(15.9)	20.6	(7.9)
Rapid Diagnostics	2,618	1,758	4,376	115.7	109.2	113.0	115.7	107.4	112.3

Worldwide Diagnostics sales increased 111.1 percent on a reported basis in the fourth quarter and increased 108.9 percent on an organic basis. Strong growth in the quarter was driven by demand for Abbott’s portfolio of COVID-19 diagnostics tests across its rapid and lab-based platforms. Global COVID-19 testing-related sales were $2.4 billion in the fourth quarter, led by combined sales of $1.9 billion from Abbott’s BinaxNOW, Panbio and ID NOW rapid testing platforms.

During 2020, Abbott mobilized its teams across multiple fronts to develop and launch multiple diagnostic tests for COVID-19:

U.S. Emergency Use Authorization (EUA) of BinaxNOW COVID-19 Ag Card test, a portable, lateral flow rapid antigen test to detect COVID-19.
CE Mark and World Health Organization emergency use listing of Panbio rapid antigen test to detect COVID-19.
U.S. EUA of molecular test to detect COVID-19 on its ID NOW rapid point-of-care platform.
U.S. EUA and CE Mark of molecular test on its m2000^™ RealTime lab-based platform to detect COVID-19.
U.S. EUA and CE Mark of molecular test on its Alinity^™ m system to detect COVID-19.
U.S. EUA and CE Mark of IgG (Immunoglobulin G) lab-based serology blood test on its ARCHITECT^® i1000SR and i2000SR laboratory instruments for the detection of an antibody to determine if someone was previously infected with the virus.
U.S. EUA and CE Mark of SARS-CoV-2 IgG lab-based serology blood test on its Alinity i system.
Lateral flow COVID-19 rapid antibody test on its Panbio system in select countries for the detection of an antibody to determine if someone was previously infected with the virus.
U.S. EUA and CE Mark of AdviseDx SARS-CoV-2 IgM (Immunoglobulin M) lab-based serology test for use on its ARCHITECT and Alinity platforms.
CE Mark of IgG (Immunoglobulin G) quantitative lab-based serology test for use on its ARCHITECT and Alinity platforms.
CE Mark of multiplex molecular tests on its Alinity m system to detect COVID-19, Flu A/B and RSV.

Established Pharmaceuticals

($ in millions)

				% Change vs. 4Q19
	Sales 4Q20			Reported			Organic
	U.S.	Int’l	Total	U.S.	Int’l	Total	U.S.	Int’l	Total
Total	—	1,147	1,147	n/a	(2.3)	(2.3)	n/a	3.4	3.4
Key Emerging Markets	—	833	833	n/a	(7.1)	(7.1)	n/a	1.1	1.1
Other	—	314	314	n/a	13.0	13.0	n/a	10.8	10.8

				% Change vs. 12M19
	Sales 12M20			Reported			Organic
	U.S.	Int’l	Total	U.S.	Int’l	Total	U.S.	Int’l	Total
Total	—	4,303	4,303	n/a	(4.1)	(4.1)	n/a	1.9	1.9
Key Emerging Markets	—	3,209	3,209	n/a	(5.4)	(5.4)	n/a	2.6	2.6
Other	—	1,094	1,094	n/a	–	–	n/a	(0.5)	(0.5)

Established Pharmaceuticals sales decreased 2.3 percent on a reported basis in the fourth quarter and increased 3.4 percent on an organic basis.

Key Emerging Markets include India, Brazil, Russia and China along with several additional emerging countries that represent the most attractive long-term growth opportunities for Abbott’s branded generics product portfolio. Sales in these geographies decreased 7.1 percent on a reported basis in the quarter and increased 1.1 percent on an organic basis. Organic sales growth in India, Russia and Brazil was partially offset by market softness across several countries as a result of COVID-19.

Other sales increased 13.0 percent on a reported basis in the quarter and increased 10.8 percent on an organic basis, led by strong sales of Influvac^®.

Medical Devices

($ in millions)

				% Change vs. 4Q19
	Sales 4Q20			Reported			Organic
	U.S.	Int’l	Total	U.S.	Int’l	Total	U.S.	Int’l	Total
Total	1,369	1,888	3,257	(2.5)	4.9	1.7	(2.5)	1.2	(0.4)
Rhythm Management	248	284	532	(6.8)	2.1	(2.3)	(6.8)	(1.7)	(4.2)
Electrophysiology	184	266	450	(4.5)	0.1	(1.9)	(4.5)	(3.6)	(4.0)
Heart Failure	136	53	189	(6.7)	0.4	(4.8)	(6.7)	(2.3)	(5.5)
Vascular	225	378	603	(14.0)	(16.6)	(15.6)	(14.0)	(19.0)	(17.1)
Structural Heart	154	199	353	(9.1)	(3.3)	(5.9)	(9.1)	(7.0)	(7.9)
Neuromodulation	172	41	213	(1.6)	(12.7)	(4.0)	(1.6)	(15.7)	(4.6)
Diabetes Care	250	667	917	29.3	34.1	32.7	29.3	29.1	29.2

Vascular Product Lines:
Coronary and Endovascular^a)	210	377	587	(12.3)	(16.4)	(15.0)	(12.3)	(18.8)	(16.5)

^a)

Includes drug-eluting stents, balloon catheters, guidewires, vascular imaging/diagnostics products, vessel closure, carotid and other coronary and peripheral products.

				% Change vs. 12M19
	Sales 12M20			Reported			Organic
	U.S.	Int’l	Total	U.S.	Int’l	Total	U.S.	Int’l	Total
Total	4,931	6,856	11,787	(8.2)	(0.1)	(3.7)	(8.2)	(0.3)	(3.8)
Rhythm Management	903	1,011	1,914	(14.5)	(7.1)	(10.7)	(14.5)	(7.2)	(10.8)
Electrophysiology	660	918	1,578	(11.0)	(6.2)	(8.3)	(11.0)	(6.8)	(8.6)
Heart Failure	547	193	740	(4.7)	(1.3)	(3.9)	(4.7)	(1.3)	(3.9)
Vascular	853	1,486	2,339	(18.6)	(17.6)	(18.0)	(18.6)	(17.4)	(17.8)
Structural Heart	540	707	1,247	(12.2)	(9.9)	(10.9)	(12.2)	(10.3)	(11.2)
Neuromodulation	564	138	702	(14.6)	(19.2)	(15.5)	(14.6)	(19.0)	(15.5)
Diabetes Care	864	2,403	3,267	27.4	30.2	29.5	27.4	30.1	29.4

Vascular Product Lines:
Coronary and Endovascular^a)	785	1,478	2,263	(17.1)	(17.5)	(17.4)	(17.1)	(17.3)	(17.3)

^a)

Includes drug-eluting stents, balloon catheters, guidewires, vascular imaging/diagnostics products, vessel closure, carotid and other coronary and peripheral products.

Worldwide Medical Devices sales increased 1.7 percent on a reported basis in the fourth quarter and decreased 0.4 percent on an organic basis. Strong growth in Diabetes Care, led by FreeStyle Libre, was offset by reduced cardiovascular and neuromodulation procedure volumes due to the COVID-19 pandemic and lower Vascular sales in China, as a result of a new national tender program in that country. Excluding Vascular sales in China, global Vascular sales decreased 10.4 percent on an organic basis, and Medical Devices sales increased 1.4 percent on an organic basis in the fourth quarter.

In Diabetes Care, strong growth in the quarter was led by FreeStyle Libre, which grew 41.3 percent on a reported basis and 37.1 percent on an organic basis. For the full year, FreeStyle Libre grew 43.1 percent on a reported basis and 42.6 percent on an organic basis.

Abbott continues to strengthen its Medical Devices portfolio, with several key product approvals in 2020, including:

U.S. FDA clearance of FreeStyle Libre 2 as an integrated continuous glucose monitoring (iCGM) system for adults and children ages 4 and older with diabetes, achieving the highest level of accuracy and performance standards.⁴
CE Mark of FreeStyle Libre 3, which automatically delivers up-to-the-minute glucose readings, unsurpassed 14-day accuracy⁵ and real-time glucose alarms in the world’s smallest and thinnest⁶ wearable glucose sensor.
CE Mark of Libre Sense Glucose Sport Biosensor, a small wearable sensor that helps athletes better understand the efficacy of their nutritional choices on training and athletic performance.
CE Mark of MitraClip G4, Abbott’s next-generation MitraClip heart system, the leading minimally invasive mitral heart valve repair device in the world.
CE Mark of TriClip, the world’s first minimally invasive, clip-based device for repair of a leaky tricuspid heart valve.
CE Mark of Tendyne, a first-of-its-kind technology to replace a faulty mitral heart valve.
U.S. approval of Gallant implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) devices, which include Bluetooth technology and a new patient smartphone app for improved remote monitoring and enhanced patient-physician engagement to help manage heart rhythm disorders.
CE Mark of EnSite X EP System, a next-generation 3D cardiac mapping platform used for ablation therapy to treat abnormal heart rhythms.
U.S. FDA clearance and CE Mark of the IonicRF^™ Generator, a non-surgical, minimally invasive device that uses heat to target specific nerves for the management of chronic pain.

ABBOTT ISSUES GUIDANCE FOR 2021
Abbott projects full-year 2021 diluted earnings per share from continuing operations under GAAP of at least $3.74. Abbott forecasts specified items for the full-year 2021 of $1.26 primarily related to intangible amortization, expenses associated with acquisitions, restructuring and cost reduction initiatives and other net expenses. Excluding specified items, projected adjusted diluted earnings per share from continuing operations would be at least $5.00 for full-year 2021.

ABBOTT DECLARES 388^TH CONSECUTIVE QUARTERLY DIVIDEND

On Dec. 11, 2020, the board of directors of Abbott increased the company’s quarterly dividend to $0.45 per share from $0.36 per share, an increase of 25 percent. Abbott’s cash dividend is payable Feb. 16, 2021, to shareholders of record at the close of business on Jan. 15, 2021.

Abbott has increased its dividend payout for 49 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.

About Abbott:

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 109,000 colleagues serve people in more than 160 countries.

Connect with us at www.abbott.com, on LinkedIn at www.linkedin.com/company/abbott-/, on Facebook at www.facebook.com/Abbott and on Twitter @AbbottNews.

Abbott will live webcast its fourth-quarter earnings conference call through its Investor Relations website at www.abbottinvestor.com at 8 a.m. Central time today. An archived edition of the webcast will be available later that day.

— Private Securities Litigation Reform Act of 1995 —
A Caution Concerning Forward-Looking Statements

Some statements in this news release may be forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. Abbott cautions that these forward-looking statements are subject to risks and uncertainties, including the impact of the COVID-19 pandemic on Abbott’s operations and financial results, that may cause actual results to differ materially from those indicated in the forward-looking statements. Economic, competitive, governmental, technological and other factors that may affect Abbott’s operations are discussed in Item 1A, “Risk Factors” in our Annual Report on Form 10-K for the year ended Dec. 31, 2019 and in Item 1A, “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, and are incorporated herein by reference. Abbott undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.

¹	Fourth-quarter 2020 diluted EPS from continuing operations on a GAAP basis reflects 103.4 percent growth.
²	Full year 2020 diluted EPS from continuing operations on a GAAP basis exceeded the guidance range Abbott issued in January 2020 of $2.35 to $2.45.
³	Full year 2021 guidance for diluted EPS from continuing operations on a GAAP basis reflects growth of at least 50 percent versus the prior year.
⁴	Based on FDA iCGM special controls.
⁵	Alva Shridhara, Timothy Bailey, Ronald Brazg, Erwin S. Budiman, Kristin Castorino, Mark P. Christiansen, Gregory Forlenza, Mark Kipnes, David R. Liljenquist, and Hanqing Liu. “Accuracy of a 14-Day Factory-Calibrated Continuous Glucose Monitoring System With Advanced Algorithm in Pediatric and Adult Population With Diabetes.” Journal of Diabetes Science and Technology, (September 2020). https://doi.org/10.1177/1932296820958754.
⁶	Among patient-applied sensors. Data on File, Abbott Diabetes Care.

Abbott Laboratories and Subsidiaries
Condensed Consolidated Statement of Earnings
Fourth Quarter Ended December 31, 2020 and 2019
(in millions, except per share data)
(unaudited)

	4Q20	4Q19	% Change
Net Sales	$10,701	$8,314	28.7

Cost of products sold, excluding amortization expense	4,493	3,434	30.8
Amortization of intangible assets	508	483	5.2
Research and development	698	595	17.5
Selling, general, and administrative	2,570	2,413	6.5
Total Operating Cost and Expenses	8,269	6,925	19.4

Operating Earnings	2,432	1,389	75.0

Interest expense, net	127	139	(8.3)
Net foreign exchange (gain) loss	(5)	(2)	n/m
Debt extinguishment costs	—	63	n/m
Other (income) expense, net	(78)	(51)	49.6
Earnings from Continuing Operations before taxes	2,388	1,240	92.4

Tax expense on Earnings from Continuing Operations	230	191	20.2	1)
Earnings from Continuing Operations	2,158	1,049	105.5

Earnings from Discontinued Operations, net of taxes	4	—	n/m

Net Earnings	$2,162	$1,049	105.9

Earnings from Continuing Operations, excluding Specified Items, as described below	$2,612	$1,705	53.2	2)

Diluted Earnings per Common Share from:
Continuing Operations	$1.20	$0.59	103.4
Discontinued Operations	—	—	n/m
Total	$1.20	$0.59	103.4

Diluted Earnings per Common Share from Continuing Operations, excluding Specified Items, as described below	$1.45	$0.95	52.6	2)

Average Number of Common Shares Outstanding
Plus Dilutive Common Stock Options	1,789	1,781

NOTES:

See tables titled “Non-GAAP Reconciliation of Financial Information From Continuing Operations” for an explanation of certain non-GAAP financial information.

n/m = Percent change is not meaningful.

See footnotes below.


1)	2020 Tax expense on Earnings from Continuing Operations includes the recognition of approximately $135 million of tax benefits related to the impairment of certain assets, approximately $25 million of net tax benefits as a result of the resolution of various tax positions related to prior years and approximately $10 million in excess tax benefits associated with share-based compensation.

2)	2020 Net Earnings and Diluted Earnings per Common Share from Continuing Operations, excluding Specified Items, excludes net after-tax charges of $454 million, or $0.25 per share, for intangible amortization and impairment expenses and other net expenses primarily associated with acquisitions and restructuring actions.

	2019 Net Earnings and Diluted Earnings per Common Share from Continuing Operations, excluding Specified Items, excludes net after-tax charges of $656 million, or $0.36 per share, for intangible amortization expense and other expenses primarily associated with acquisitions and restructuring actions.

Abbott Laboratories and Subsidiaries
Condensed Consolidated Statement of Earnings
Year Ended December 31, 2020 and 2019
(in millions, except per share data)
(unaudited)

	12M20	12M19	% Change
Net Sales	$34,608	$31,904	8.5

Cost of products sold, excluding amortization expense	15,003	13,231	13.4
Amortization of intangible assets	2,132	1,936	10.1
Research and development	2,420	2,440	(0.8)	1)
Selling, general, and administrative	9,696	9,765	(0.7)
Total Operating Cost and Expenses	29,251	27,372	6.9

Operating Earnings	5,357	4,532	18.2

Interest expense, net	500	576	(13.2)
Net foreign exchange (gain) loss	(8)	7	n/m
Debt extinguishment costs	—	63	n/m
Other (income) expense, net	(103)	(191)	(46.5)
Earnings from Continuing Operations before taxes	4,968	4,077	21.8

Tax expense on Earnings from Continuing Operations	497	390	27.3	2)
Earnings from Continuing Operations	4,471	3,687	21.2

Earnings from Discontinued Operations, net of taxes	24	—	n/m

Net Earnings	$4,495	$3,687	21.9

Earnings from Continuing Operations, excluding Specified Items, as described below	$6,552	$5,810	12.8	3)

Diluted Earnings per Common Share from:
Continuing Operations	$2.49	$2.06	20.9
Discontinued Operations	0.01	—	n/m
Total	$2.50	$2.06	21.4

Diluted Earnings per Common Share from Continuing Operations, excluding Specified Items, as described below	$3.65	$3.24	12.7	3)

Average Number of Common Shares Outstanding Plus Dilutive Common Stock Options	1,786	1,781

NOTES:

See tables titled “Non-GAAP Reconciliation of Financial Information From Continuing Operations” for an explanation of certain non-GAAP financial information.

n/m = Percent change is not meaningful.

See footnotes below.


1)	In 2019, in conjunction with the acquisition of Cephea Valve Technologies, Inc., Abbott acquired an R&D asset valued at $102 million, which was immediately expensed.

2)	2020 Tax expense on Earnings from Continuing Operations includes the recognition of approximately $170 million of tax benefits related to the impairment of certain assets, approximately $140 million of net tax benefits as a result of the resolution of various tax positions related to prior years and approximately $100 million in excess tax benefits associated with share-based compensation.

	2019 Tax expense on Earnings from Continuing Operations includes the impact of a $86 million reduction of the transition tax associated with the Tax Cuts and Jobs Act (TCJA) and approximately $100 million in excess tax benefits associated with share-based compensation.

3)	2020 Net Earnings and Diluted Earnings per Common Share from Continuing Operations, excluding Specified Items, excludes net after-tax charges of $2.081 billion, or $1.16 per share, for intangible amortization expense, impairment charges and other net expense primarily associated with acquisitions, restructuring actions and income from a litigation settlement.

	2019 Net Earnings and Diluted Earnings per Common Share from Continuing Operations, excluding Specified Items, excludes net after-tax charges of $2.123 billion, or $1.18 per share, for intangible amortization expense and other expenses primarily associated with acquisitions and restructuring actions.

Abbott Laboratories and Subsidiaries
Non-GAAP Reconciliation of Financial Information From Continuing Operations
Fourth Quarter Ended December 31, 2020 and 2019
(in millions, except per share data)
(unaudited)

	4Q20
	As Reported (GAAP)	Specified Items	As Adjusted	% to Sales

Intangible Amortization	$ 508	$ (508)	$ —
Gross Margin	5,700	557	6,257	58.5%
R&D	698	(61)	637	6.0%
SG&A	2,570	(56)	2,514	23.5%
Other (income) expense, net	(78)	23	(55)
Earnings from Continuing Operations before taxes	2,388	651	3,039
Tax expense on Earnings from Continuing Operations	230	197	427
Earnings from Continuing Operations	2,158	454	2,612
Diluted Earnings per Share from Continuing Operations	$1.20	$0.25	$1.45

Specified items reflect intangible amortization expense of $508 million and other net expenses of $143 million, primarily associated with acquisitions, restructuring actions and other expenses. See tables titled “Details of Specified Items” for additional details regarding specified items.

	4Q19
	As Reported (GAAP)	Specified Items	As Adjusted	% to Sales

Intangible Amortization	$ 483	$ (483)	$ —
Gross Margin	4,397	545	4,942	59.4%
R&D	595	(39)	556	6.7%
SG&A	2,413	(62)	2,351	28.3%
Debt extinguishment costs	63	(63)	—
Other (income) expense, net	(51)	(5)	(56)
Earnings from Continuing Operations before taxes	1,240	714	1,954
Tax expense on Earnings from Continuing Operations	191	58	249
Earnings from Continuing Operations	1,049	656	1,705
Diluted Earnings per Share from Continuing Operations	$0.59	$0.36	$0.95

Specified items reflect intangible amortization expense of $483 million and other expenses of $231 million, primarily associated with acquisitions, restructuring actions and other expenses. See tables titled “Details of Specified Items” for additional details regarding specified items.

Abbott Laboratories and Subsidiaries
Non-GAAP Reconciliation of Financial Information From Continuing Operations
Year Ended December 31, 2020 and 2019
(in millions, except per share data)
(unaudited)

	12M20
	As Reported (GAAP)	Specified Items	As Adjusted	% to Sales

Intangible Amortization	$ 2,132	$ (2,132)	$ —
Gross Margin	17,473	2,452	19,925	57.6%
R&D	2,420	(125)	2,295	6.6%
SG&A	9,696	(75)	9,621	27.8%
Other (income) expense, net	(103)	(88)	(191)
Earnings from Continuing Operations before taxes	4,968	2,740	7,708
Tax expense on Earnings from Continuing Operations	497	659	1,156
Earnings from Continuing Operations	4,471	2,081	6,552
Diluted Earnings per Share from Continuing Operations	$2.49	$1.16	$3.65

Specified items reflect intangible amortization expense of $2.132 billion and other net expenses of $608 million, primarily associated with acquisitions, restructuring actions, asset impairments, other expenses and litigation settlement income. See tables titled “Details of Specified Items” for additional details regarding specified items.

	12M19
	As Reported (GAAP)	Specified Items	As Adjusted	% to Sales

Intangible Amortization	$ 1,936	$ (1,936)	$ —
Gross Margin	16,737	2,140	18,877	59.2%
R&D	2,440	(198)	2,242	7.0%
SG&A	9,765	(240)	9,525	29.9%
Debt extinguishment costs	63	(63)	—
Other (income) expense, net	(191)	(37)	(228)
Earnings from Continuing Operations before taxes	4,077	2,678	6,755
Tax expense on Earnings from Continuing Operations	390	555	945
Earnings from Continuing Operations	3,687	2,123	5,810
Diluted Earnings per Share from Continuing Operations	$2.06	$1.18	$3.24

Specified items reflect intangible amortization expense of $1.936 billion and other expenses of $742 million, primarily associated with acquisitions, restructuring actions and other expenses. See tables titled “Details of Specified Items” for additional details regarding specified items.

A reconciliation of the fourth-quarter tax rates for continuing operations for 2020 and 2019 is shown below:


	4Q20
($ in millions)	Pre-Tax Income	Taxes on Earnings	Tax Rate
As reported (GAAP)	$2,388	$ 230	9.6%	1)
Specified items	651	197
Excluding specified items	$3,039	$427	14.1%

	4Q19
($ in millions)	Pre-Tax Income	Taxes on Earnings	Tax Rate
As reported (GAAP)	$1,240	$191	15.4%
Specified items	714	58
Excluding specified items	$1,954	$249	12.8%


1)	2020 Tax expense on Earnings from Continuing Operations includes the recognition of approximately $135 million of tax benefits related to the impairment of certain assets, approximately $25 million of net tax benefits as a result of the resolution of various tax positions related to prior years and approximately $10 million in excess tax benefits associated with share-based compensation.

A reconciliation of the year-to-date tax rates for continuing operations for 2020 and 2019 is shown below:

	12M20
($ in millions)	Pre-Tax Income	Taxes on Earnings	Tax Rate
As reported (GAAP)	$4,968	$497	10.0%	2)
Specified items	2,740	659
Excluding specified items	$7,708	$1,156	15.0%

	12M19
($ in millions)	Pre-Tax Income	Taxes on Earnings	Tax Rate
As reported (GAAP)	$4,077	$390	9.6%	3)
Specified items	2,678	555
Excluding specified items	$6,755	$945	14.0%


2)	2020 Tax expense on Earnings from Continuing Operations includes the recognition of approximately $170 million of tax benefits related to the impairment of certain assets, approximately $140 million of net tax benefits as a result of the resolution of various tax positions related to prior years and approximately $100 million in excess tax benefits associated with share-based compensation.

3)	Reported tax rate on a GAAP basis for 2019 includes the impact of a $86 million reduction of the transition tax associated with the TCJA and approximately $100 million in excess tax benefits associated with share-based compensation.

Abbott Laboratories and Subsidiaries
Details of Specified Items
Fourth Quarter Ended December 31, 2020
(in millions, except per share data)
(unaudited)

	Acquisition or Divestiture- related (a)	Restructuring and Cost Reduction Initiatives (b)	Intangible Amortization	Other (c)	Total Specifieds
Gross Margin	$ 23	$ 23	$ 508	$ 3	$ 557
R&D	(2)	6	—	(65)	(61)
SG&A	(25)	(4)	—	(27)	(56)
Other (income) expense, net	24	—	—	(1)	23
Earnings from Continuing Operations before taxes	$ 26	$ 21	$ 508	$ 96	651
Tax expense on Earnings from Continuing Operations (d)					197
Earnings from Continuing Operations					$ 454
Diluted Earnings per Share from Continuing Operations					$ 0.25

The table above provides additional details regarding the specified items described on tables titled “Non-GAAP Reconciliation of Financial Information From Continuing Operations.”


a)	Acquisition-related expenses include integration costs, which represent incremental costs directly related to integrating the acquired businesses and include expenditures for retention and the integration of systems, processes and business activities.

b)	Restructuring and cost reduction initiative expenses include severance, outplacement, and other direct costs associated with specific restructuring plans and cost reduction initiatives. Restructuring and cost reduction plans consist of distinct initiatives to streamline operations including the consolidation and rationalization of business activities and facilities, workforce reductions, the transfer of product lines between manufacturing facilities, and the transfer of other business activities between sites.

c)	Other primarily relates to the impairment of an intangible asset and the net costs related to certain litigation.

d)	Reflects the net tax benefit associated with the specified items and excess tax benefits associated with share-based compensation.

Abbott Laboratories and Subsidiaries
Details of Specified Items
Fourth Quarter Ended December 31, 2019
(in millions, except per share data)
(unaudited)

	Acquisition or Divestiture- related (a)	Restructuring and Cost Reduction Initiatives (b)	Intangible Amortization	Other (c)	Total Specifieds
Gross Margin	$ 34	$ 28	$ 483	$ —	$ 545
R&D	(15)	(22)	—	(2)	(39)
SG&A	(39)	(23)	—	—	(62)
Debt extinguishment costs	—	—	—	(63)	(63)
Other (income) expense, net	(5)	—	—	—	(5)
Earnings from Continuing Operations before taxes	$ 93	$ 73	$ 483	$ 65	714
Tax expense on Earnings from Continuing Operations (d)					58
Earnings from Continuing Operations					$ 656
Diluted Earnings per Share from Continuing Operations					$ 0.36

The table above provides additional details regarding the specified items described on tables titled “Non-GAAP Reconciliation of Financial Information From Continuing Operations.”


a)	Acquisition-related expenses include costs for tax and other services related to business acquisitions, integration costs which represent incremental costs directly related to integrating the acquired businesses and include expenditures for retention, severance, and the integration of systems, processes and business activities.

b)	Restructuring and cost reduction initiative expenses include severance, outplacement, asset impairments, and other direct costs associated with specific restructuring plans and cost reduction initiatives. Restructuring and cost reduction plans consist of distinct initiatives to streamline operations including the consolidation and rationalization of business activities and facilities, workforce reductions, the transfer of product lines between manufacturing facilities, and the transfer of other business activities between sites.

c)	Other primarily relates to costs associated with the early extinguishment of debt.

d)	Reflects the net tax benefit associated with the specified items and excess tax benefits associated with share-based compensation.

Abbott Laboratories and Subsidiaries
Details of Specified Items
Year Ended December 31, 2020
(in millions, except per share data)
(unaudited)

	Acquisition or Divestiture- related (a)	Restructuring and Cost Reduction Initiatives (b)	Intangible Amortization	Other (c)	Total Specifieds
Gross Margin	$ 84	$ 80	$ 2,132	$ 156	$ 2,452
R&D	(10)	(3)	—	(112)	(125)
SG&A	(108)	(40)	—	73	(75)
Other (income) expense, net	21	—	—	(109)	(88)
Earnings from Continuing Operations before taxes	$ 181	$ 123	$ 2,132	$ 304	2,740
Tax expense on Earnings from Continuing Operations (d)					659
Earnings from Continuing Operations					$ 2,081
Diluted Earnings per Share from Continuing Operations					$ 1.16

The table above provides additional details regarding the specified items described on tables titled “Non-GAAP Reconciliation of Financial Information From Continuing Operations.”


a)	Acquisition-related expenses include integration costs, which represent incremental costs directly related to integrating the acquired businesses and include expenditures for retention, severance, and the integration of systems, processes and business activities.

b)	Restructuring and cost reduction initiative expenses include severance, outplacement, and other direct costs associated with specific restructuring plans and cost reduction initiatives. Restructuring and cost reduction plans consist of distinct initiatives to streamline operations including the consolidation and rationalization of business activities and facilities, workforce reductions, the transfer of product lines between manufacturing facilities, and the transfer of other business activities between sites.

c)	Other primarily relates to impairment charges related to certain assets and the costs to acquire R&D assets, partially offset by income from the settlement of litigation.

d)	Reflects the net tax benefit associated with the specified items, the resolution of prior years’ tax positions and excess tax benefits associated with share-based compensation.

Abbott Laboratories and Subsidiaries
Details of Specified Items
Year Ended December 31, 2019
(in millions, except per share data)
(unaudited)

	Acquisition or Divestiture- related (a)	Restructuring and Cost Reduction Initiatives (b)	Intangible Amortization	Other (c)	Total Specifieds
Gross Margin	$ 103	$ 101	$ 1,936	$ —	$ 2,140
R&D	(38)	(44)	—	(116)	(198)
SG&A	(153)	(70)	—	(17)	(240)
Debt extinguishment costs	—	—	—	(63)	(63)
Other (income) expense, net	(15)	—	—	(22)	(37)
Earnings from Continuing Operations before taxes	$ 309	$ 215	$ 1,936	$ 218	2,678
Tax expense on Earnings from Continuing Operations (d)					555
Earnings from Continuing Operations					$ 2,123
Diluted Earnings per Share from Continuing Operations					$ 1.18

The table above provides additional details regarding the specified items described on tables titled “Non-GAAP Reconciliation of Financial Information From Continuing Operations.”


a)	Acquisition-related expenses include costs for tax and other services related to business acquisitions, integration costs which represent incremental costs directly related to integrating the acquired businesses and include expenditures for retention, severance, and the integration of systems, processes and business activities, and fair value adjustments to contingent consideration related to a business acquisition.

b)	Restructuring and cost reduction initiative expenses include severance, outplacement, asset impairments, and other direct costs associated with specific restructuring plans and cost reduction initiatives. Restructuring and cost reduction plans consist of distinct initiatives to streamline operations including the consolidation and rationalization of business activities and facilities, workforce reductions, the transfer of product lines between manufacturing facilities, and the transfer of other business activities between sites.

c)	Other primarily relates to the acquisition of R&D assets, costs associated with the early extinguishment of debt, charges related to the impairment of certain assets, and expenses related to certain litigation settlements.

d)	Reflects the net tax benefit associated with the specified items, a reduction in the transition tax associated with the TCJA and excess tax benefits associated with share-based compensation.

View original content:http://www.prnewswire.com/news-releases/abbott-reports-fourth-quarter-2020-results-issues-strong-double-digit-growth-forecast-for-2021-301216123.html

SOURCE Abbott

January 27, 2021 7:33 am

Fidelity Investments Canada ULC announces fee waivers on several ETF and mutual fund offerings

Canada NewsWire

TORONTO, Jan. 27, 2021 /CNW/ – Fidelity Investments Canada ULC announced today that it is temporarily waiving a portion of the management fees on several of its ETFs and mutual funds (collectively, “Fidelity Funds”). The management fee waivers for these funds, as listed below, will be effective on or around February 8, 2021.

The ETFs and mutual funds affected by the temporary waivers are as follows:

ETF	Ticker	Current Management Fees	New Management Fee After Waiver
Fidelity Canadian Monthly High Income ETF	FCMI	0.50%	0.40%
Fidelity Canadian Momentum Index ETF	FCCM	0.35%	0.10%
Fidelity Canadian Value Index ETF	FCCV	0.35%	0.10%
Fidelity Global Monthly High Income ETF	FCGI	0.55%	0.45%
Fidelity International Momentum Index ETF	FCIM	0.45%	0.20%
Fidelity U.S. Momentum Currency Neutral Index ETF	FCMH	0.38%	0.10%
Fidelity U.S. Momentum Index ETF	FCMO	0.35%	0.10%
Fidelity U.S Value Currency Neutral Index ETF	FCVH	0.38%	0.10%
Fidelity U.S. Value Index ETF	FCUV	0.35%	0.10%

Mutual Fund	Series	Current Management Fees	New Management Fee After Waiver
Fidelity Canadian Monthly High Income ETF Fund	B	1.50%	1.40%
Fidelity Canadian Monthly High Income ETF Fund	F	0.50%	0.40%
Fidelity Global Monthly High Income ETF Fund	B	1.55%	1.45%
Fidelity Global Monthly High Income ETF Fund	F	0.55%	0.45%

The above waivers will result in a reduction in the management expense ratios (“MER”) of the Fidelity Funds going forward. Such waivers may terminate at any time without notice, at Fidelity’s sole discretion.

Additional information about the Fidelity Funds, including the prospectus and Fund Facts and ETF Facts, can be found at www.fidelity.ca.

Investors are encouraged to speak with their financial advisor about these changes and to review their options. For account information, Fidelity’s client services team can be reached between 8 a.m. and 8 p.m. EDT at 1-800-263-4077 (toll-free).

About Fidelity Investments Canada ULC
At Fidelity, our mission is to build a better future for Canadian investors and help them stay ahead. We offer investors and institutions a range of innovative and trusted investment portfolios to help them reach their financial and life goals.

As a privately-owned company, our people and world class resources are committed to doing what is right for investors and their long-term success. Our clients have entrusted us with $176 billion in assets under management (as at January 18, 2021) and they include individuals, financial advisors, pension plans, endowments, foundations and more.

We are proud to provide investors a full range of investment solutions through mutual funds and exchange-traded funds, including domestic, international and global equity, income-oriented strategies, asset allocation solutions, managed portfolios, sustainable investing and our high net worth program. Fidelity Funds are available through a number of advice-based distribution channels including financial planners, investment dealers, banks, and insurance companies.

Read a fund’s prospectus and consult your financial advisor before investing. Exchange-traded funds are not guaranteed; their values change frequently and past performance may not be repeated. Commissions, management fees, brokerage fees and expenses may all be associated with investments in exchange-traded funds and investors and may experience a gain or loss.

Find us on social media @FidelityCanada

SOURCE Fidelity Investments Canada ULC

January 27, 2021 7:33 am

Q BioMed’s Uttroside-B Receives U.S. FDA Orphan Drug Designation in the Treatment of Liver Cancer

PR Newswire

NEW YORK, Jan. 27, 2021 /PRNewswire/ — Q BioMed Inc. (OTCQB: QBIO), announced today that the U.S. Food and Drug Administration’s Office of Orphan Products Development has granted Orphan Drug Designation to Uttroside-B, a small molecule chemotherapeutic for the treatment of hepatocellular carcinoma (HCC), the most common form of liver cancer. In preclinical studies, Uttroside-B was up to 10-times more potent against HCC cells than Sorafinib, the standard of care drug at the time.

As an Orphan Drug, Uttroside-B may benefit from a seven-year market exclusively following marketing approval, grant funding for clinical trials that contribute to marketing approval, protocol assistance, and tax credits. Preclinical testing is now underway to support an FDA Investigational New Drug (IND) application expected this year.

Q BioMed has the exclusive rights to the technology through an agreement with the Rajiv Gandhi Centre for Biotechnology, an autonomous Institute under the Department of Biotechnology, Government of India and the Oklahoma Medical Research Foundation.

“Orphan Drug Designation gives our Uttroside-B program a substantial boost, and we expect it will significantly accelerate development and reduce costs. We are pleased that the FDA recognizes the urgent need for effective treatments for HCC, and that the agency sees the potential of Uttroside-B to address this difficult to treat cancer,” stated Q BioMed CEO Denis Corin.

With very limited approved first-line pharmaceutical therapies for HCC available today, challenges include drug resistance, adverse side effects, and high costs. An estimated 700,000 people are diagnosed with HCC each year, with the global market for liver cancer drugs expected to grow to $3.9 billion by 2027.

About Q BioMed Inc.

Q BioMed Inc. is a biotech acceleration and commercial stage company focused on licensing and acquiring undervalued biomedical assets in the healthcare sector. Q BioMed is dedicated to providing these target assets the strategic resources, developmental support, and expansion capital needed to ensure they meet their developmental potential, enabling them to provide products to patients in need‏.

Please visit http://www.QBioMed.com and sign up for regular updates.

Forward-Looking Statements:

This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under, and maintain financing and strategic agreements and relationships; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.

Q BioMed Media Contact:

Denis Corin

CEO

Investor Relations:
Keith Pinder
+1(404) 995-6671
[email protected]

View original content:http://www.prnewswire.com/news-releases/q-biomeds-uttroside-b-receives-us-fda-orphan-drug-designation-in-the-treatment-of-liver-cancer-301215876.html

SOURCE Q BioMed Inc.

January 27, 2021 7:33 am

Rollins, Inc. Reports Fourth Quarter and Full Year 2020 Financial Results

PR Newswire

ATLANTA, Jan. 27, 2021 /PRNewswire/ —

Total revenue increased 6.0% for the quarter and 7.2% for full year
Residential revenues increased 11.0% for the quarter 13.3% for full year
Earnings Per Share of $0.13 for the fourth quarter and $0.53 full year 2020

Rollins, Inc. (NYSE:ROL), a premier global consumer and commercial services company, reported strong unaudited financial results for its fourth quarter and year ended December 31, 2020.

The Company recorded fourth quarter revenues of $536.3 million, an increase of 6.0% over the prior year’s fourth quarter revenue of $506.0 million. Rollins’ reported net income of $62.6 million or $0.13 per diluted share for the fourth quarter ended December 31, 2020, compared to $50.8 million or $0.10 per diluted share for the same period in 2019.

All shares and per share data have been adjusted to reflect the 3-for-2 stock split effective December 10, 2020.

For the full year ended December 31, 2020, Rollins’ revenues rose 7.2% to $2.161 billion compared to $2.015 billion for the prior year. The Company reported net income of $260.8 million or $0.53 per diluted share compared to $203.3 million or $0.41 per diluted share for the same period last year. Net income for the full year 2020 was negatively impacted by the one-time non-cash accelerated stock vesting of $6.7 million. Adjusted net income* for the full year 2020 was $267.5 million or $0.54 per diluted share, compared to adjusted net income* of $229.9 million or $0.47 per diluted share for the same period last year.

Gary W. Rollins, Chairman and Chief Executive Officer of Rollins, Inc. stated, “We are very proud of our results, and our employees and their commitment to customer service. Although 2020 brought many difficult circumstances related to COVID, we benefitted from our residential pest control demand and our previous technology investments.”

Rollins, Inc. is a premier global consumer and commercial services company. Through its family of leading brands, Orkin, HomeTeam Pest Defense, Clark Pest Control, Orkin Canada, Western Pest Services, Northwest Exterminating, Critter Control, The Industrial Fumigant Company, Trutech, Orkin Australia, Waltham Services, OPC Services, PermaTreat, Rollins UK, Aardwolf Pestkare, and Crane Pest Control, the Company provides essential pest control services and protection against termite damage, rodents and insects to more than two million customers in North America, South America, Europe, Asia, Africa, and Australia from more than 700 locations. You can learn more about Rollins and its subsidiaries by visiting our web sites at www.orkin.com, www.pestdefense.com, www.clarkpest.com, www.orkincanada.ca, www.westernpest.com, www.callnorthwest.com, www.crittercontrol.com, www.indfumco.com, www.trutechinc.com, www.orkinau.com, www.walthamservices.com, www.opcpest.com, www.permatreat.com, www.safeguardpestcontrol.co.uk, www.aardwolfpestkare.com, www.cranepestcontrol.com and www.rollins.com. You can also find this and other news releases at www.rollins.com by accessing the news releases button.

*Adjusted amounts presented in this release are non-GAAP financial measures. See the appendix to this release for a discussion of non-GAAP financial metrics including a reconciliation of the most closely correlated GAAP measure.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS This release contains statements that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. The actual results of the Company could differ materially from those indicated because of various risks and uncertainties, including without limitation, the extent and duration of the coronavirus (COVID-19) pandemic and its potential impact on the financial health of the Company’s business partners, customers, supply chains and suppliers, global economic conditions and capital and financial markets, changes in consumer behavior and demand, the potential unavailability of personnel or key facilities, modifications to the Company’s operations, and the potential implementation of regulatory actions; economic and competitive conditions which may adversely affect the Company’s business; the degree of success of the Company’s pest and termite process, and pest control selling and treatment methods; the Company’s ability to identify and integrate potential acquisitions; climate and weather trends; competitive factors and pricing practices; the Company’s ability to attract and retain skilled workers, and potential increases in labor costs; uncertainties of litigation; the results of the SEC’s investigation of the Company; and changes in various government laws and regulations, including environmental regulations. All of the foregoing risks and uncertainties are beyond the ability of the Company to control, and in many cases the Company cannot predict the risks and uncertainties that could cause its actual results to differ materially from those indicated. A more detailed discussion of potential risks facing the Company can be found in the Company’s Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2019 and the Company’s Report on Form 10-Q filed with the Securities and Exchange Commission for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020.

ROL-Fin

ROLLINS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(in thousands)
At December 31, (unaudited)	2020	2019
ASSETS
Cash and cash equivalents	$ 98,477	$ 94,276
Trade accounts receivables, net	126,337	122,766
Financed receivables, net	23,716	22,267
Materials and supplies	30,843	19,476
Other current assets	35,404	51,002
Total Current Assets	314,777	309,787
Equipment and property, net	178,860	195,533
Goodwill	650,794	572,847
Customer contracts, net	305,655	273,720
Trademarks and tradenames, net	104,644	102,539
Other intangible assets, net	10,045	10,525
Operating lease, right-of-use assets	212,342	200,727
Financed receivables, long-term, net	38,187	30,792
Benefit plan assets	1,198	21,565
Deferred income tax assets	2,222	2,180
Other assets	27,176	24,161
Total Assets	$ 1,845,900	$ 1,744,376
LIABILITIES
Accounts payable	64,596	35,234
Accrued insurance, current	31,675	30,441
Accrued compensation and related liabilities	91,011	81,943
Unearned revenue	131,253	122,825
Operating lease liabilities, current	73,248	66,117
Current portion of long-term debt	17,188	12,500
Other current liabilities	64,540	60,975
Total Current Liabilities	473,511	410,035
Accrued insurance, less current portion	36,067	34,920
Operating lease liabilities, less current portion	140,897	135,651
Long-term debt	185,812	279,000
Deferred income tax liabilities	10,612	9,927
Long-term accrued liabilities	57,641	59,093
Total Liabilities	904,540	928,626
STOCKHOLDERS’ EQUITY
Common stock	491,612	491,146
Retained earnings and other equity	449,748	324,604
Total stockholders’ equity	941,360	815,750
Total Liabilities and Stockholders’ Equity	$ 1,845,900	$ 1,744,376

ROLLINS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands except per share data)
(unaudited)

	Three Months Ended		Twelve Months Ended
	December 31,		December 31,
	2020	2019	2020	2019
REVENUES
Customer services	$ 536,292	$ 505,985	$ 2,161,220	$ 2,015,477
COSTS AND EXPENSES
Cost of services provided	266,344	254,284	1,048,592	993,593
Depreciation and amortization	22,403	22,606	88,329	81,111
Sales, general and administrative	159,086	154,795	656,207	623,379
Accelerated stock vesting expense	–	–	6,691	–
Pension settlement loss	–	–	–	49,898
Loss / (gain) on sale of assets, net	970	(175)	1,599	(581)
Interest expense, net	591	2,466	5,082	6,917
	449,394	433,976	1,806,500	1,754,317
INCOME BEFORE INCOME TAXES	86,898	72,009	354,720	261,160
PROVISION FOR INCOME TAXES	24,279	21,244	93,896	57,813
NET INCOME	$ 62,619	$ 50,765	$ 260,824	$ 203,347
NET INCOME PER SHARE – BASIC AND DILUTED	$ 0.13	$ 0.10	$ 0.53	$ 0.41
Weighted average shares outstanding – basic and diluted	491,619	491,159	491,605	491,216

APPENDIX

Reconciliation of GAAP and non-GAAP Financial Measures

The Company has used the non-GAAP financial measures of adjusted net income and adjusted EPS in today’s earnings release. These measures should not be considered in isolation or as a substitute for net income or other performance measures prepared in accordance with GAAP.

The Company uses adjusted net income and adjusted EPS as a measure of operating performance because it allows it to compare performance consistently over various periods without regard to the impact of the accelerated stock vesting expense and pension settlement losses.

A non-GAAP financial measure is a numerical measure of financial performance, financial position, or cash flows that either 1) excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the statement of operations, balance sheet or statement of cash flows, or 2) includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented.

Set forth below is a reconciliation of adjusted net income and adjusted EPS with net income, the most comparable GAAP measures.

(unaudited in thousands except EPS)

	Twelve Months Ended
	December 31,
	2020	2019	Better/ (Worse)	%
Net Income	$ 260,824	$ 203,347	$ 57,477	28.3	%
Accelerated Stock Vesting Expense	6,691	–	6,691	–
Pension Settlement Loss	–	49,898	(49,898)	–
Adjusted Income Taxes on Excluded Expenses	–	(23,315)	23,315	–
Adjusted Net Income	$267,515	$229,930	$37,585	16.3	%
Adjusted Net Income Per Share – Basic And Diluted	$ 0.54	$ 0.47	$ 0.07	14.9
Weighted average participating shares outstanding – basic and diluted	491,605	491,216	389	0.1

CONFERENCE CALL ANNOUNCEMENT

Rollins, Inc.

(NYSE: ROL)

Management will hold a conference call to discuss

Fourth Quarter 2020 results on

Wednesday, January 27, 2021 at:

10:00 a.m. Eastern

9:00 a.m. Central

8:00 a.m. Mountain

7:00 a.m. Pacific

TO PARTICIPATE:
Please dial 877-407-9716 domestic;
201-493-6779 international
with conference ID of 13714448
at least 5 minutes before start time.

REPLAY: available through February 3, 2021
Please dial 844-512-2921 / 412-317-6671, Passcode 13714448
THIS CALL CAN ALSO BE ACCESSED THROUGH THE INTERNET AT

www.rollins.com

Questions?

Contact Samantha Alphonso at Financial Relations Board at 212-827-3746

Or email to [email protected]

For Further Information Contact
Eddie Northen, (404) 888-2242

View original content:http://www.prnewswire.com/news-releases/rollins-inc-reports-fourth-quarter-and-full-year-2020-financial-results-301215785.html

SOURCE Rollins, Inc.

January 27, 2021 7:33 am

W. P. Carey Included in 2021 Bloomberg Gender-Equality Index

Inclusion Recognizes W. P. Carey for its Commitment to Gender Equality and Advancing Women in the Workplace

PR Newswire

NEW YORK, Jan. 27, 2021 /PRNewswire/ — W. P. Carey Inc. (NYSE: WPC), a leading net lease REIT specializing in corporate sale-leasebacks, build-to-suits and the acquisition of single-tenant net lease properties, today announced that it has been named to the 2021 Bloomberg Gender-Equality Index (“GEI”). W. P. Carey joins 380 companies across 11 sectors and 44 countries and regions as a leader in its commitment to transparency in gender reporting and advancing women’s equality in the workplace.

The GEI brings transparency to gender-related practices and policies at publicly listed companies, increasing the breadth of environmental, social and governance (“ESG”) data available to investors. The reference index measures gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies and pro-women brand. W. P. Carey was included in this year’s index for scoring at or above a global threshold established by Bloomberg to reflect a high level of disclosure and overall performance across the framework’s five pillars.

“The companies included in the 2021 GEI are expanding the ESG data universe to include gender-related data that investors are demanding today,” said Peter T. Grauer, Chairman of Bloomberg. “Their commitment to disclosure is making the business case for inclusion, and driving transparency in the markets.”

In 2020, W. P. Carey took several notable actions to advance its diversity and inclusion efforts, including:

Launching a Diversity & Inclusion Advisory Committee to facilitate important conversations around diversity in the workplace
Signing the CEO Action Pledge for Diversity & Inclusion
Achieving recognition by Women on Boards as a “Winning” company for board diversity
Achieving 30% female representation on its Board of Directors

Jason Fox, Chief Executive Officer of W. P. Carey, said: “We are extremely proud to be included in Bloomberg’s 2021 Gender-Equality Index and recognized as a leader in advancing women in the workplace. Since our inception, we’ve strived to make W. P. Carey a place where women have the opportunity to learn, grow and become leaders within the company. Today’s announcement is an acknowledgement of the progress we have made thus far around diversity, equity and inclusion, but we also recognize there is still more work to be done. We look forward to building on our collective efforts and continuing to promote a culture of inclusion where all employees feel valued and supported.”

W. P. Carey Inc.

W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators. Its portfolio is located primarily in the U.S. and Northern and Western Europe and is well-diversified by tenant, property type, geographic location and tenant industry.
www.wpcarey.com

W. P. Carey Inc. Contacts:

Press Contacts:

Guy Lawrence

Ross & Lawrence
+1 212-308-3333
[email protected]

Anna McGrath

W. P. Carey Inc.
+1 212-492-1166
[email protected]

Institutional Investors:

Peter Sands

+1 212-492-1110
[email protected]

View original content to download multimedia:http://www.prnewswire.com/news-releases/w-p-carey-included-in-2021-bloomberg-gender-equality-index-301215692.html

SOURCE W. P. Carey Inc.

January 27, 2021 7:33 am

Ascendant Resources Initiates Phase 2 Exploration Drilling Program in the Copper-Rich South Zone at Lagoa Salgada

Following highly successful Phase I program, drilling is expected to continue to significantly expand resources in the south zone

TORONTO, Jan. 27, 2021 (GLOBE NEWSWIRE) — Ascendant Resources Inc. (TSX: ASND) (“Ascendant” or the “Company”) is pleased to announce the start of its Phase 2 drilling program in the South Zone at the Lagoa Salgada project located on the Iberian Pyrite Belt in Portugal. The Phase 2 program consists of 1,400m of drilling and downhole IP surveys and follows the very successful recently completed Phase 1 program. The continued objective of the program is to significantly increase and upgrade resources at the copper-rich South Zone, building upon the strong drill results highlighted in the Company’s press release on January 13, 2021. The increased resources are expected to build upon Phase 1 drilling and the existing 2.47Mt of Measured and Indicated resource and 6.09Mt of Inferred resource delineated in the South Zone as highlighted in the Company’s NI 43-101 Mineral Resource Estimate, dated November 5, 2019.

The South Zone remains open along strike and at depth according to geological data collected during the Company’s previous exploration activities. Indications are that the mineralization is expanding southward where the Company’s next drill targets in this program are planned. Figure 1 highlights the completed and planned drill holes. The 1,400m of drilling in Phase 2 aims to better define this high-grade copper-rich zone on the Lagoa Salgada South Zone Resource, and in particular the LS_ST_23 drill hole defined by 5 main corridors of high-grade, strong stockwork mineralization.

Chris Buncic, President & CEO of Ascendant stated, “We are excited to continue our exploration activities in the South Zone where we hope to significantly grow copper and copper equivalent tonnage and grade. The results of Phase 1 drilling in the South Zone suggests that we are approaching a more intense system of stockwork and massive sulfide mineralization, which was also predicted by our geophysics program. The Phase 2 program should advance us a long way along the path of growing this copper rich resource.”

Figure 1: South Zone planned exploration program

https://www.globenewswire.com/NewsRoom/AttachmentNg/46c71d72-1384-4313-8d07-70908bcd1c92

Technical Disclosure/Qualified Person

All technical information contained herein has been reviewed and approved by Robert A. Campbell, M.Sc, P.Geo, an officer and director of the Company. Mr. Campbell is a “qualified person” within the meaning of NI 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

About Ascendant Resources Inc.

Ascendant Resources Inc. is a Toronto-based mining company focused on the exploration and development of the highly prospective Lagoa Salgada VMS project located on the prolific Iberian Pyrite Belt in Portugal. Through focused exploration and aggressive development plans, the Company aims to unlock the inherent potential of the project, maximizing value creation for shareholders.

Lagoa Salgada contains over 12.8 million tonnes of M&I Resources and over 10.3 million tonnes in Inferred Resources and demonstrates typical mineralization characteristics of Iberian Pyrite Belt VMS deposits containing zinc, copper, lead, tin, silver and gold. Extensive exploration upside potential lies both near deposit and at prospective step-out targets across the large 10,700ha property concession. The project also demonstrates compelling economics with scalability for future resource growth in the results of the Preliminary Economic Assessment completed in 2020. Located just 80km from Lisbon, Lagoa Salgada is easily accessible by road and surrounded by exceptional Infrastructure. Ascendant holds a 21.25% interest in the Lagoa Salgada project through its 25% position in Redcorp – Empreendimentos Mineiros, Lda, (“Redcorp”) and has an earn-in opportunity to increase its interest in the project to 80%. Mineral & Financial Investments Limited owns the additional 75% of Redcorp. The remaining 15% of the project is held by Empresa de Desenvolvimento Mineiro, S.A. (EDM), a Portuguese Government owned company supporting the strategic development of the country’s mining sector. The Company’s interest in the Lagoa Salgada project offers a low-cost entry to a potentially significant exploration and development opportunity, already demonstrating its mineable scale.

Ascendant Resources is also engaged in the ongoing evaluation of producing and development stage mineral resource opportunities. The Corporation’s common shares are principally listed on the Toronto Stock Exchange under the symbol “ASND”. For more information on Ascendant Resources, please visit our website at www.ascendantresources.com.

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

Katherine Pryde
Communications & Investor Relations
Tel: 888-723-7413
[email protected]

Forward Looking Information

This news release contains “forward-looking statements” and “forward-looking information” (collectively, “forward-looking information”) within the meaning of applicable Canadian securities legislation. All information contained in this news release, other than statements of current and historical fact, is forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “budget”, “guidance”, “scheduled”, “estimates”, “forecasts”, “strategy”, “target”, “intends”, “objective”, “goal”, “understands”, “anticipates” and “believes” (and variations of these or similar words) and statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” “occur” or “be achieved” or “will be taken” (and variations of these or similar expressions). Forward-looking information is also identifiable in statements of currently occurring matters which may continue in the future, such as “providing the Company with”, “is currently”, “allows/allowing for”, “will advance” or “continues to” or other statements that may be stated in the present tense with future implications. All of the forward-looking information in this news release is qualified by this cautionary note.

Forward-looking information in this news release includes, but is not limited to, statements regarding the exploration activities and the results of such activities at the Lagoa Salgada Project, the ability of the Company to advance the Lagoa Salgada Project to a Preliminary Economic Assessment, and the ability of the Company to fund the exploration with funds from operations. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Ascendant at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that Ascendant identified and were applied by Ascendant in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to, the success of the exploration activities at Lagoa Salgada Project, the Company advancing the project to a Preliminary Economic Assessment, the ability of the Company to fund the exploration program at Lagoa Salgada with funds from operations , and other events that may affect Ascendant’s ability to develop its project; and no significant and continuing adverse changes in general economic conditions or conditions in the financial markets.

The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information may include, but are not limited to, risks generally associated with the mining industry, such as economic factors (including future commodity prices, currency fluctuations, energy prices and general cost escalation), uncertainties related to the development and operation of Ascendant’s projects, dependence on key personnel and employee and union relations, risks related to political or social unrest or change, rights and title claims, operational risks and hazards, including unanticipated environmental, industrial and geological events and developments and the inability to insure against all risks, failure of plant, equipment, processes, transportation and other infrastructure to operate as anticipated, compliance with government and environmental regulations, including permitting requirements and anti-bribery legislation, volatile financial markets that may affect Ascendant’s ability to obtain additional financing on acceptable terms, the failure to obtain required approvals or clearances from government authorities on a timely basis, uncertainties related to the geology, continuity, grade and estimates of mineral reserves and resources, and the potential for variations in grade and recovery rates, uncertain costs of reclamation activities, tax refunds, hedging transactions, as well as the risks discussed in Ascendant’s most recent Annual Information Form on file with the Canadian provincial securities regulatory authorities and available at

www.sedar.com

.

Should one or more risk, uncertainty, contingency, or other factor materialize, or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Accordingly, the reader should not place undue reliance on forward-looking information. Ascendant does not assume any obligation to update or revise any forward-looking information after the date of this news release or to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law.

January 27, 2021 7:33 am

Mydecine Innovations Group Files Application to list to the NASDAQ

DENVER, Jan. 27, 2021 (GLOBE NEWSWIRE) — Mydecine Innovations Group (CSE: MYCO) (OTC: MYCOF) (FSE: 0NFA) (“Mydecine” or the “Company’), an emerging biopharma and life sciences company committed to the research, development, and acceptance of alternative nature-sourced medicine for mainstream use, announced that it has submitted a formal application to list its common shares (“Shares”) on the NASDAQ Stock Exchange (“NASDAQ”). NASDAQ is the second largest exchange by market capitalization worldwide and is home to many of the world’s best technology companies.

In connection with its application to list on NASDAQ, Mydecine expects to, in due course, file a Form 20-F Registration Statement with the United States Securities and Exchange Commission (SEC). Acceptance for listing the Company’s shares is subject to approval based on several factors including satisfaction of minimum listing requirements for the NASDAQ Capital Market. The Company intends to satisfy all of the applicable listing requirements; however, there is no assurance that its application will be approved. During the NASDAQ review process, the Company’s common stock will continue to trade in Canada on the CSE under its current symbol, MYCO and on the OTC under the symbol, MYCOF.

“We believe the Company is entering an accelerated growth phase and the timing could not be better for listing our Shares to NASDAQ,” said Josh Bartch, CEO & Chair of Mydecine. “This listing is intended to open the investment opportunity to a larger and more diverse pool of investors and help create greater shareholder value. A listing on the NASDAQ Capital Market is a natural progression for the Company and our shareholders.”

The Company has engaged Ellenoff Grossman & Schole LLP (EGS) as its US legal counsel to oversee the process of the NASDAQ listing.

About Mydecine Innovations Group

Mydecine Innovations Group™ (CSE: MYCO) (OTC:MYCOF) (FSE:0NFA) is an emerging biotech and life sciences company dedicated to developing and commercializing innovative solutions for treating mental health problems and enhancing vitality. The company’s world-renowned medical and scientific advisory board is building out a robust R&D pipeline of nature-sourced psychedelic-assisted therapeutics, novel compounds, therapy protocols, and unique delivery systems. Mydecine has exclusive access to a full cGMP certified pharmaceutical manufacturing facility with the ability to import/export, cultivate, extract/isolate, and analyze active mushroom compounds with full government approval through Health Canada. Mydecine also operates out of a state-of-the-art mycology lab in Denver, CO to focus on genetic research for scaling commercial cultivation of rare (non-psychedelic) medicinal mushrooms.

At the heart of Mydecine’s core philosophy is that psychedelic-assisted psychotherapy will continue to gain acceptance in the medical community with many of the world’s best accredited research organizations demonstrating its remarkable clinical effectiveness. Mydecine recognizes the responsibility associated with psychedelic-assisted therapy and will continue to position itself as a long-term leader across the spectrum of clinical trials, research, technology, and global supply. Mydecine has also successfully completed multiple acquisitions since its inception.

Learn more at: https://www.mydecine.com/ and follow us on Facebook, Twitter, and Instagram.

Mydecine Innovations Group Media Contacts

Anne Donohoe / Nick Opich
KCSA Strategic Communications
[email protected] / [email protected]
212-896-1265 / 212-896-1206

On behalf of the Board of Directors:

Joshua Bartch, Chief Executive Officer
[email protected]

Corp Communications:

Charles Lee, Investor Relations
[email protected]
+1 720-277-9879

For further information about Mydecine Innovations Group, Inc., please visit the Company’s profile on SEDAR at www.sedar.com or visit the Company’s website at

www.mydecine.com

.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof. This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, without limitation, the ultimate approval of the Company’s listing application on the NASDAQ, the availability and continuity of financing, the ability of the Company to adequately protect and enforce its intellectual property, the Company’s ability to bring its products to commercial production, continued growth of the global adaptive pathway medicine, natural health products and digital health industries, and the risks presented by the highly regulated and competitive market concerning the development, production, sale and use of the Company’s products. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. This news release does not constitute an offer of securities for sale in the United States. These securities have not and will not be registered under United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon.

January 27, 2021 7:33 am

IBI Group Named Lead Architect on TTC’s Line 1 Subway Enhancement Program

Program will support increased ridership and improved customer experience into 2031

TORONTO, Jan. 27, 2021 (GLOBE NEWSWIRE) — Global design and technology firm, IBI Group (TSX:IBG), has been named lead architect on the Toronto Transit Commission’s (TTC) Line 1 Subway Enhancement Program. In partnership with prime consultant WSP, IBI Group will manage the review and development of facility station modification requirements for the 11-year program, set to deliver capacity upgrades to manage increased ridership in the near and long term. The project builds on the firm’s recent transportation infrastructure contract wins, including its design role as part of the Acciona-Ghella joint venture on Vancouver’s Broadway Subway Expansion.

“We are proud to work together with WSP and the TTC to support its goal of improved customer experience, safety and satisfaction,” said IBI Group Director and Senior Practice Lead, Architecture, Lisa D’Abbondanza. “The TTC’s Enhancement Program also supports the continued growth of the City of Toronto, making the benefits of a healthy public transit system more accessible to city residents and visitors.”

As Lead Architect, IBI Group will review passenger and design capacities and provide design solutions that consider demand requirements 30 years beyond the target construction completion date, using growth forecasts provided by the TTC and the City of Toronto. Wayfinding, signage, and accessibility will be central considerations throughout the design process. Work on the project commenced in December 2020, and has an expected completion in 2031.

Toronto’s Line 1 (Yonge-University) is the busiest rapid transit line in Canada, serving more than 850,000 customers per day pre-COVID-19. Southbound trains departing from Bloor-Yonge Station carry between 28,000 to 30,000 passengers during the morning rush hour, at times exceeding Line 1’s scheduled capacity. Recent demand forecasts for Line 1, completed pre-COVID-19, indicate that morning rush hour heading southbound from Bloor-Yonge Station will soon exceed 36,000 passengers as a result of the completion of the Line 1 Yonge Subway Extension, and population and employment increases in the Toronto region.

With a breadth of experience in transportation engineering and planning, transit architecture, intelligent transportation systems, and smart cities, IBI Group has helped to define how people move through cities for over 40 years. This project adds to IBI Group’s global expertise designing transit infrastructure, including: Toronto’s Eglinton Crosstown LRT and Hurontario LRT, York Region’s vivaNext BRT, the Edmonton Valley Line LRT, Ottawa Confederation Line, and the Tel Aviv Light Rail Red Line.

For more information and/or to connect with an IBI Group professional, please contact Julia Harper at [email protected] or 647-330-4706.

About IBI Group

IBI Group Inc. (TSX:IBG) is a technology-driven design firm with global architecture, engineering, planning, and technology expertise spanning over 60 offices and 2,700 professionals around the world. For nearly 50 years, its dedicated professionals have helped clients create livable, sustainable, and advanced urban environments. IBI Group believes that cities thrive when designed with intelligent systems, sustainable buildings, efficient infrastructure, and a human touch. Follow IBI Group on Twitter @ibigroup and Instagram @ibi_group.

Media Contact:

Julia Harper, IBI Group
[email protected]
1-647-330-4706

January 27, 2021 7:33 am

Collection Sites Continues Expansion With Launch of New COVID-19 Testing Sites in Florida, Virginia and Texas

The continued success of Collection Sites rollout has led to the expansion into Virginia and growth in Texas and Florida, with a total of 50 operating sites across its network.

TORONTO, Jan. 27, 2021 (GLOBE NEWSWIRE) — Medivolve Inc. (“Medivolve”) (NEO:MEDV; OTC:COPRF; FRA:4NC) is pleased to announce the launch of new COVID-19 testing centres by its wholly owned subsidiary, Collection Sites, LLC. Collection Sites has launched three new sites in Texas, two new sites in Florida and a new site in Virginia.

In order to maximize operational efficiency, Collection Sites is conducting a state by state expansion where possible. The new sites are currently located on the properties of Simon’s Property Group, an investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company as well as Sandor Development Group. Additional sites are expected to be open in Texas, Florida, and Virginia within the coming week.

“As Collection Sites continues to expand across the nation, we will look to build out a strong presence in high-population regions to better leverage our local infrastructure and minimize the cost of our operations,” says Mr. Tim Shelburn, President of Collection Sites. “As the awareness and marketing initiatives increase for our locations we expect to see an increase in demand for our services and are proud to be able to provide important COVID-19 testing services to those seeking them in the state.”

About the Collection Sites

The pop-up labs will be managed by Las Vegas based company Collection Sites, LLC and powered by Alcala Testing and Analysis Services, a CLIA-licensed laboratory based in San Diego, California. Appointments and payments will be handled through an online portal www.testbeforeyougo.com.

The key to flattening the curve is to increase testing.

The testing centers will offer convenient access to rapid antibody and antigen (pending availability) tests – which take 8-10 minutes to administer and provide results within 24 hours. The sites also offer regular RT-PCR. All tests can be administered with insurance coverage options. The tests results can be communicated via text or email and can be accompanied with a certificate of good health via a HIPAA-compliant smartphone application.

For more information about the pop-up lab, the available sites and services visit

www.testbeforeyougo.com

.

About Medivolve Inc.

Medivolve Inc.
(NEO:MEDV; OTC:COPRF; FRA:4NC) seeks out disruptive technologies, ground-breaking innovations, and exclusive partnerships to help combat COVID-19 and generate remarkable risk-adjusted returns for investors. Specifically, Medivolve offers investors a diversified investment in the COVID-19 medical space across three areas; prevention, detection, and treatment.

Medivolve has a team of renowned global medical and business advisors that have developed a proprietary business strategy to capitalize on high-margin opportunities in the COVID-19 space. This panel includes prominent immunologist Dr. Lawrence Steinman and Dr. Glenn Copeland, who has 45 years of experience in orthopaedic treatment, foot and ankle care, and sports medicine.

Medivolve’s primary focus is to provide convenient and assessable medical services for testing of the COVID-19 virus to help combat the pandemic. This is achieved largely through two acquisitions: 100% of Collection Sites, LLC and 28% of Colombian Sanaty IPS. Collection Sites is setting up a series of COVID-19 testing sites across the United States with appointments and payments will be handled through the online portal www.testbeforeyougo.com. Sanaty is setting up a series of full-service medical clinics offering a complete COVID-19 testing solution.

For additional information, please contact:

Doug Sommerville, CEO
[email protected]

For investing inquiries please contact:
Evan Veryard
[email protected]

For US media enquires please contact:
Veronica Welch
[email protected]
+1-508-643-8000

Cautionary Note Regarding Forward-looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the expansion of COVID-19 testing sites; the proposed roll-out of testing sites; projected timelines for testing results; projected revenues from the testing; the pursuit by Medivolve of investment opportunities; and the merits or potential returns of any such investments. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.