Market Newsdesk

ST. LOUIS, Nov. 12, 2020 /PRNewswire/ — Energizer Holdings, Inc. (NYSE: ENR) (the “company”) today announced that Alan R. Hoskins has informed the company’s Board of Directors of his decision to retire as Chief Executive Officer, effective January 1, 2021. The Board has elected Mark S. LaVigne, President and Chief Operating Officer of Energizer, to succeed Mr. Hoskins as the company’s next CEO. Mr. Hoskins will continue to serve as a Director, upon election at the 2021 Annual Shareholders’ Meeting, and as an advisor to the company until September 30, 2021. The Board intends to nominate Mr. LaVigne to stand for election as a Director at the 2021 Annual Shareholders’ Meeting.  

“Alan is an exceptional leader who has guided Energizer through an extraordinary transformation into a stand-alone public company and a global consumer products leader with a strong foundation for long-term success,” said Pat Moore, independent Chairman of the Board. “He has had a notable nearly four-decade-long career at our company, and during his time as CEO, has led the Energizer team through two strategic acquisitions and in building enduring brands, a global infrastructure and strong supplier and customer relationships. With his relentless focus on innovation, operations and people, Alan has helped develop a talented leadership team that is focused on delivering on Energizer’s strategic priorities. I’m pleased that he will remain as a Director and an advisor to the company through September to help ensure a smooth transition while he turns towards his personal philanthropic activities.”

Mr. Hoskins commented, “Like many people, over the past several months, I have had the opportunity to reflect on my life, my future and what is most important to me. After a fulfilling career at Energizer spanning nearly 40 years, including the last five as CEO, I determined in conjunction with the Board that now is the right time for Energizer to transition to new leadership. Mark’s capabilities and deep understanding of Energizer’s diverse markets, operations and colleagues make him uniquely qualified to lead Energizer into its next phase of growth. As I enter my next chapter, I look forward to spending more time with my family and pursuing philanthropic opportunities. I would like to thank all of our colleagues for their dedication and efforts in positioning Energizer as the leader in consumer products that it is today, especially through the recent challenges of the pandemic, and I am certain that Mark and the rest of the executive team will continue the company’s momentum for many years to come.”

Mr. Moore continued, “Mark’s appointment is the culmination of rigorous succession planning by the Board and we have great confidence that he will be an excellent CEO for Energizer. Mark is an outstanding executive who has helped define and execute Energizer’s strategic initiatives and has overseen the company’s integrated operating model with a focus on growing its platform and market positions in the Batteries, Lights and Auto Care categories. Through his time this past year serving as President and COO, along with his previous roles at Energizer and outside our organization, Mark brings strong leadership skills and expertise that will serve the company well into the future.”

“I am honored to take on the role of CEO and lead Energizer and its dedicated colleagues around the world,” said Mr. LaVigne. “Despite the unprecedented challenges of this year, our long-term strategies remain intact, and we are well-positioned to strengthen our leadership across categories and generate sustainable growth. We recognize we have hurdles to overcome, but I have complete confidence in our organization and am tremendously excited about Energizer’s future prospects. I thank Alan for his leadership and collaboration and look forward to working with him to ensure a seamless transition.”

Mr. Hoskins’ retirement concludes a remarkable, nearly four-decade-long career with Energizer, including serving as CEO since 2015. He has played a key role in the company’s growth and transformation, establishing Energizer as a standalone public company and defining its strategic priorities – leading with innovation, operating with excellence and driving productivity – as well as overseeing the company’s two transformational acquisitions of Spectrum Brands’ battery and portable lighting and global auto care businesses. Over the course of Mr. Hoskins’ tenure, Energizer has transformed into a leading global consumer products company and is now the global value share leader in the battery and auto care categories and the branded share leader in the portable lighting category. Mr. Hoskins’ focus on talent and culture as the key drivers of the company’s success has empowered colleagues to take control, drive significant change and deliver on commitments, as well as instilled diversity as a key value across the organization, with almost half of the Company’s critical roles now held by women and people of color. As a result of these efforts, Energizer has delivered strong financial results under Mr. Hoskins’ leadership, including five consecutive years of organic sales growth and significant Net Sales, Adjusted EBITDA and Adjusted Free Cash flow growth over the same timeframe, and is well positioned to generate long-term shareholder value for years to come.

Fourth Quarter and Fiscal Year 2020 Results

The company also announced today in a separate press release its fourth quarter and fiscal year 2020 results. The webcast is scheduled to begin at 10:00 a.m. ET and can be accessed at www.energizerholdings.com, under the “Investors” and “Events and Presentations” tabs. A replay of the webcast will be available on the company’s website.

About Energizer Holdings, Inc.

Energizer Holdings, Inc. (NYSE: ENR), headquartered in St. Louis, Missouri, is one of the world’s largest manufacturers and distributors of primary batteries, portable lights, and auto care appearance, performance, refrigerant, and fragrance products. Our portfolio of globally recognized brands include Energizer®, Armor All®, Eveready®, Rayovac®, STP®, Varta®, A/C Pro®, Refresh Your Car! ®, California Scents®, Driven®, Bahama & Co. ®, LEXOL®, Eagle One®, Nu Finish®, Scratch Doctor®, and Tuff Stuff®. As a global branded consumer products company, Energizer’s mission is to lead the charge to deliver value to our customers and consumers better than anyone else.

Forward-Looking Statements

Certain information contained in this news release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions difficult to predict or beyond our control. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “Commission”) on November 19, 2019 and subsequent Commission filings. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made. 

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SOURCE Energizer Holdings, Inc.

BETHESDA, Md., Nov. 12, 2020 /PRNewswire/ — Walker & Dunlop, Inc. announced today that it completed the sale of Argyle & Harvard Apartments, a two-property, 98-unit value-add portfolio. Situated in the Hollywood submarket of Los Angeles, California, the unofficial global headquarters for the entertainment and media industry, the multifamily communities offer immediate access to Hollywood’s expanding corporate footprint and growing job base. It is estimated that over 566,000 jobs exist throughout neighboring submarkets, which include notable employers such as Netflix, HBO, ViacomCBS, and Showtime, as well as rapidly growing digital media startups.

Built in 1970 and 1955 respectively, Argyle & Harvard Apartments presents new ownership with the opportunity to significantly increase rental income. Enhancing finishes in the 21 lightly-renovated units, as well as fully renovating the 77 units that are in original condition, could result in an almost 44 percent increase in rents.

Walker & Dunlop’s Blake Rogers, Alexandra Caniglia, Hunter Combs, Javier Rivera, and Kevin Sheehan represented the seller and facilitated the sale of the portfolio.

The transaction is one of just seven multifamily property sales with 50+ units in the City of Los Angeles since the Covid-19 pandemic started; this represents more than a 50 percent decrease in transaction volume compared to the past several years¹.

The Southern California Walker & Dunlop team has closed more than $325,000,000 in multifamily sales transactions over the past 30 days. Nationally, the Walker & Dunlop investment sales platform has also achieved dramatic growth with over $4 billion in sales volume completed through 3Q 2020 in the face of the pandemic. Walker & Dunlop is a top-ranked commercial real estate finance company; in 2019, the firm completed $32.0 billion in total transaction volume, and was ranked the #1 Fannie Mae DUS^® multifamily lender and the #3 Freddie Mac Optigo^® lender by volume.

For information about Walker & Dunlop’s view on the apartment market, including expert perspectives on markets, leadership, and the road ahead, visit our Driven by Insight information center.

About Walker & Dunlop

Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services to owners of multifamily properties. Walker & Dunlop is included on the S&P SmallCap 600 Index and was ranked as one of FORTUNE Magazine’s Fastest Growing Companies in 2014, 2017, and 2018. Walker & Dunlop’s 900+ professionals in 40 offices across the nation have an unyielding commitment to client satisfaction.

¹CoStar

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SOURCE Walker & Dunlop, Inc.

DENVER, Nov. 12, 2020 /PRNewswire/ — Akerna (Nasdaq: KERN), an enterprise software, leading compliance technology provider and developer of the cannabis industry’s first seed-to-sale enterprise resource planning (ERP) software technology (MJ Platform®), today announced financial results for its quarter ended September 30, 2020.

“I’m thrilled to report we achieved 40% year over year software revenue growth in this quarter and have increased our total SaaS ARR by 44% over this same time last year,” said Jessica Billingsley, CEO of Akerna. “Looking forward, we are entering a period of massive market expansion.  Five new states have approved cannabis via ballot measure in the recent election potentially representing approximately $18M in new TAM for our software and services offerings, and many more states and countries have legislative initiatives proposed over the coming months. Our scaled ecosystem is uniquely positioned to capture these opportunities, with the most robust cannabis technology suite available.”

September Quarter 2020 Financial Highlights

• Software revenue was $3.2 million, an increase of 40% year over year
• Total revenue was $3.7 million, an increase of 16% year over year
• Gross Profit was $2.0 million, an increase of 9% year over year
• Net Loss was $4.7 million compared to a net loss of $2.3 million for the period ended September 30, 2019
• Adjusted EBITDA was ($3.0 million), compared to ($2.2 million) for the period ended September 30, 2019
• See “Explanation of Non-GAAP Financial Measures” below
• Cash was $14.3 million as of September 30, 2020

September Quarter 2020 Key Metrics

• Total SaaS ARR of $14.1 million, up 44% year over year
• Average new MJ Platform order up 94% year over year
• MJ Platform transaction volume up 181% year over year
• Retail order volume up 68% year over year
• Retail order value up 127% year over year
• New Bookings ARR of $1.2 million

September Quarter 2020 Operational Highlights

• Close the acquisition of Ample Organics
• Signed an agreement with Priority Technology Holdings, Inc. to provide CBD and Hemp retailers that use Akerna’s Point of Sale products with a credit card payment processing solution
• Launched MJ Retail, a first-of-its-kind proprietary software technology designed to provide merchants and consumers with a flexible and mobile-friendly experience offering a clean and lightweight Point of Sale solution that connects to the Akerna eco-system and which can leverage our Priority payments partnership
• Announced the release of MJ Analytics, a next generation cannabis data analytics platform made possible through a partnership with the Business Intelligence firm Domo
• Akerna consulting clients won 100% of the medical cannabis dispensary licenses awarded in Iowa
• Closed a $12 million follow on offering

Conference Call Details

The Company will host a conference call Thursday November 12, 2020 at 8:30am ET to discuss its financial results and business highlights.  A question and answer session will follow prepared remarks. 

To participate in the conference call, please dial 877-407-3982 (domestic) or 201-493-6780 (international). Participants should request the Akerna Corp. Earnings Call or provide confirmation code 13713080.  Please dial into the call at least five minutes before the scheduled start time.

A replay of the call will be available through November 26, 2020, at (844) 512-2921 (domestic) or (412) 317-6671 (international). The passcode for the call and replay is 13713080.

About Akerna

Akerna is a global regulatory compliance technology company. Akerna’s service offerings include MJ Platform®, Leaf Data Systems®, solo sciences tech platform and Ample Organics. Since its establishment in 2010, Akerna has tracked more than $20 billion in cannabis sales. Akerna is based in Denver. For more information, please visit www.akerna.com and follow us on Twitter @AkernaCorp.

Forward Looking Statements

Certain statements made in this release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Such forward-looking statements include but are not limited to statements regarding our belief that recently passed ballot measures potentially represent approximately $18M in new TAM for our software and services offerings, having a scaled ecosystem gives us more opportunities to leverage these new markets and management’s conference call in relation to our quarterly results. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of significant known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside Akerna’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others that may affect actual results or outcomes, include (i) Akerna’s ability to maintain relationships with customers and suppliers and retain its management and key employees, (ii) changes in applicable laws or regulations, (iii) changes in the market place due to the coronavirus pandemic or other market factors, (iv) and other risks and uncertainties disclosed from time to time in Akerna’s filings with the U.S. Securities and Exchange Commission, including those under “Risk Factors” therein.  You are cautioned not to place undue reliance on forward-looking statements. All information herein speaks only as of the date hereof, in the case of information about Akerna, or the date of such information, in the case of information from persons other than Akerna. Akerna undertakes no duty to update or revise the information contained herein. Forecasts and estimates regarding Akerna’s industry and end markets are based on sources believed to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part.

Explanation of Non-GAAP Financial Measures:

In addition to our results determined in accordance with U.S. generally accepted accounting principles (“GAAP”), we believe the following non-GAAP measures are useful in evaluating our operating performance. We use the following non-GAAP financial information to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance. However, non-GAAP financial information is presented for supplemental informational purposes only, has limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP.

Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool. Other companies, including companies in our industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison.  We attempt compensate for these limitations by providing specific information regarding the GAAP items excluded from these non-GAAP financial measures.

Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures and not rely on any single financial measure to evaluate our business.

Adjusted EBITDA

We believe that Adjusted EBITDA, when considered with the financial statements determined in accordance with GAAP, is helpful to investors in understanding our performance and allows for comparison of our performance and credit strength to our peers. Adjusted EBITDA should not be considered alternatives to net loss as determined in accordance with GAAP as indicators of our performance or liquidity.

We define EBITDA as net loss before interest expense, provision for income taxes, depreciation and amortization, and change in fair value of convertible notes. We calculate Adjusted EBITDA as EBITDA further adjusted to exclude the effects of the following items for the reasons set forth below:

• Stock-based compensation expense, because this represents a non-cash charge and our mix of cash and share-based compensation may differ from other companies, which effects the comparability of results of operations and liquidity;
• Cost incurred in connection with business combinations that are required to be expensed as incurred in accordance with GAAP, because business combination related costs are specific to the complexity and size of the underlying transactions as well as the frequency of our acquisition activity these costs are not reflective of our ongoing operations
• Costs incurred in connection with debt issuance when we elect the fair value option to account for the debt instrument because if we had not elected the fair value option such costs would be recognized as an adjustment to the effective interest and excluded from EBITDA
• Restructuring costs because we believe these costs are not representative of operating performance; and
• Equity in earnings (losses) of investees because our share of the operations of investees is not representative of our own operating performance and may not be monetized for a number of years.

Related Non-GAAP Expense Measures

We reference in our earnings call certain non-GAAP expense measures, including non-GAAP Operating Expenses, non-GAAP Operating Expenses excluding Ample, non-GAAP Product Development Expense, non-GAAP Sales and Marketing Expenses, non-GAAP Sales and Marketing Expenses excluding Ample, non-GAAP General and Administrative Expenses and non-GAAP General and Administrative Expenses excluding Ample. We believe that these non-GAAP financial measures, when considered with the financial statements determined in accordance with GAAP, are helpful to management and investors in understanding our performance quarter over quarter and to the comparable quarter in our prior fiscal year by excluding the same items we exclude from EBITDA to derive Adjusted EBITDA, as set forth above (stock-based compensation expense, costs incurred with business combinations, costs incurred in connection with debt issuance, and restructuring costs) for the same reasons stated above–  principally, that these expenses are not, in management’s opinion, easily comparable across reporting periods, are not reflective of ongoing operations and/or are not representative of our operating performance—and excluding the operational results of Ample, which we acquired in July 2020.   

We define non-GAAP Operating Expenses, non-GAAP Product Development Expense,  non-GAAP Total Sales and Marketing Expenses and non-GAAP General and Administrative Expenses as, in each case, the corresponding GAAP financial measure (Operating Expenses, Product Development Expense, Sales and Marketing Expenses and General and Administrative Expenses) excluding that portion of stock-based compensation expense, costs incurred with business combinations, costs incurred in connection with debt issuance, and restructuring costs that is attributable to that specific GAAP financial measure.

We define non-GAAP Operating Expenses excluding Ample, non-GAAP Product Development Expense excluding Ample,  non-GAAP Total Sales and Marketing Expenses excluding Ample and non-GAAP General and Administrative Expenses excluding Ample as, in each case, the relevant non-GAAP expense measure as calculated above with the additional exclusion of expenses contained in the expense measure attributable to our recently acquire subsidiary Ample Organics Inc.    

None of these non-GAAP expense measures should not be considered alternatives to the corresponding GAAP financial measures as determined in accordance with GAAP as indicators of our performance or liquidity.  Please review the tables provided below, for a reconciliation of each of these non-GAAP expense measures to the corresponding GAAP financial measure.

 

 

 

 

 

 

 

 

 

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SOURCE Akerna

CLEVELAND, Nov. 12, 2020 /PRNewswire/ — ViewRay, Inc. (Nasdaq: VRAY) announced today that the clinical team at Amsterdam University Medical Centers (Amsterdam UMC) has treated one thousand patients using MRIdian SMART (stereotactic MR-guided adaptive radiotherapy). Amsterdam UMC continues to advance the practice of high-dose ablative radiation therapy with MRIdian through research and publication of the center’s findings.

Amsterdam UMC began treating patients with MRIdian in 2016 and has been a leader in the treatment of prostate, pancreatic, lung, liver, and kidney cancers. MRIdian SMART allows for high doses of radiation to be delivered over a short course of therapy, given the system’s real-time soft-tissue visualization capabilities and the ability for daily plan adaptation. To date, Amsterdam UMC has published more than a dozen manuscripts on their experience with MRIdian and had more than 50 MRIdian-related abstracts featured at major medical meetings around the world.

Recently, Amsterdam UMC published their experience using MRIdian SMART for the treatment of primary renal cell carcinoma in high-surgical-risk patients, given the system’s ability to deliver a completely non-invasive outpatient ablative treatment. Unlike other therapy options, no fiducials are required when delivering treatment on MRIdian. At 12-month follow-up, there was low toxicity (zero grade ≥3) and high local control (95.2 percent). Findings were particularly noteworthy given that most patients were elderly (mean age was 78.1 years) and some tumors were quite large (tumor diameter ranged from 2.4-9.3 cm; mean 5.6 cm).

Full results, as published in the September 25, 2020 issue of Cancers, are available open access: https://www.mdpi.com/2072-6694/12/10/2763.

Additionally, Amsterdam UMC completed a prospective single arm phase 2 study of SBRT with MRIdian for the treatment of prostate cancer. At 1-year follow-up, the study demonstrated zero grade 3 toxicities and very low grade 2 toxicities in more than 100 patients, of which more than half were high-risk (59.4 percent). This study shows low incidence of early toxicity using MRIdian SMART while eliminating potential complications and costs associated with implanted marker procedures.

“Because MRIdian allows us to utilize smaller uncertainty margins and employ daily adaptive planning, we believe it is well-suited  suited to treat a variety of tough to treat cancers for which high-dose radiation may not typically be considered,” said Prof. Ben Slotman, M.D., Ph.D., FACR, FASTRO, Professor & Chairman, Radiation Oncology Departments Amsterdam UMC. “In prostate cancer specifically, previous data illustrates the quality of life challenges patients can experience after radiation therapy, such as bowel symptoms, whereas we saw very low incidence of early GI and GU toxicity, both in clinician- and patient-reported outcome measurements in our MRIdian SBRT study.”

Final results were published in the June 12, 2020 issue of European Urology Oncology:https://euoncology.europeanurology.com/article/S2588-9311(20)30061-4/fulltext and early toxicity results were published in the December 2019 issue of the International Journal of Radiation Oncology*Biology*Physics: https://www.redjournal.org/article/S0360-3016(19)33640-5/fulltext.

Currently, 40 MRIdian systems are installed at hospitals around the world where they are used to treat a wide variety of solid tumors and are the focus of numerous ongoing research efforts. MRIdian has been the subject of hundreds of peer-reviewed publications, scientific meeting abstracts and presentations. More than 11,000 patients have been treated with MRIdian. For a list of treatment centers, please visit: https://viewray.com/find-mridian-mri-guided-radiation-therapy/

About ViewRay
ViewRay, Inc. (Nasdaq: VRAY), designs, manufactures and markets the MRIdian radiation therapy system. MRIdian is built upon a proprietary high-definition MR imaging system designed from the ground up to address the unique challenges and clinical workflow for advanced radiation oncology. Unlike MR systems used in diagnostic radiology, MRIdian’s high-definition MR was purpose built to address specific challenges, including beam distortion, skin toxicity, and other concerns that potentially may arise when high magnetic fields interact with radiation beams. ViewRay and MRIdian are registered trademarks of ViewRay, Inc.

ViewRay is a medical device manufacturer and cannot and does not recommend specific treatment approaches. Individual results may vary. The results described herein may not be predictive

Conflicts of Interest: Anna M.E. Bruynzeel has received honoraria from ViewRay, Inc. outside of the scope of these studies and has served on the advisory board of ViewRay, Inc. Frank J. Lagerwaard and Miguel A. Palacios have received honoraria from Viewray, Inc. outside of the scope of these studies. Suresh Senan has received research grants from ViewRay, Inc. Berend J. Slotman has received research grants and honoraria from ViewRay Inc.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Private Securities Litigation Reform Act. Statements in this press release that are not purely historical are forward-looking statements. Such forward-looking statements include, among other things, the rate of new orders, upgrades, and installations, ViewRay’s anticipated future operating and financial performance, and ViewRay’s conference calls to discuss its quarterly results. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to commercialize MRIdian Linac System, demand for ViewRay’s products, the ability to convert backlog into revenue, the timing of delivery of ViewRay’s products, the timing, length, and severity of the recent COVID-19 (coronavirus) pandemic, including its impacts across our businesses on demand, operations and our global supply chains, the results and other uncertainties associated with clinical trials, the ability to raise the additional funding needed to continue to pursue ViewRay’s business and product development plans, the inherent uncertainties associated with developing new products or technologies, competition in the industry in which ViewRay operates, and overall market conditions. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to ViewRay’s business in general, see ViewRay’s current and future reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and its Quarterly Reports on Form 10-Q, as updated periodically with the company’s other filings with the SEC. These forward-looking statements are made as of the date of this press release, and ViewRay assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.

 

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SOURCE ViewRay, Inc.

DENVER, Colo., Nov. 12, 2020 /PRNewswire/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today named Brendan M. McCracken as president, effective December 1, 2020.

“Today’s appointment recognizes Brendan’s significant impact on our success and reflects our confidence in his leadership,” said CEO Doug Suttles. “This move is part of our ongoing executive development and ensures that we have leaders for the future.” 

McCracken will maintain his current responsibilities of investor relations, external affairs and strategy and reporting to him will be the COO; EVP, midstream, marketing and fundamentals; and the EVP, corporate services. No senior leadership positions are being added with this announcement.

McCracken has more than two decades of experience in a variety of operational and commercial roles in the oil and natural gas sector. He is an active member of the American Petroleum Institute, the Canadian Association of Petroleum Producers, the Association of Professional Engineers & Geoscientists of Alberta and the Dean’s Advisory Council to the Mount Royal University Faculty of Business and Communications. McCracken graduated from Queen’s University with a bachelor of science degree in mechanical engineering and holds an MBA from the University of Oxford.

About Ovintiv Inc.

Ovintiv is one of the largest producers of oil, condensate and natural gas in North America. The Company is committed to preserving its financial strength, maximizing profitability through disciplined capital investments and operational efficiencies and returning capital to shareholders. A talented team, in combination with a culture of innovation and efficiency, fuels our economic performance, increases shareholder value and strengthens our commitment to sustainability in the communities where we live and work. To learn more, visit:  www.ovintiv.com

Further information on Ovintiv Inc. is available on the Company’s website, www.ovintiv.com, or by contacting:

Investor contact: (888) 525- 0304
Media contact: (281) 210-5253

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SOURCE Ovintiv Inc.

DETROIT, Nov. 12, 2020 /PRNewswire/ — Amesite Inc. (Nasdaq: AMST), an artificial intelligence software company providing online learning ecosystems for business, higher education, and K-12, announced today an expansion of its sales and business development team by adding seasoned education industry sales professionals Brandon Owens and Kellen Hanson.

Commenting on the announcement, Amesite Founder & CEO, Dr. Ann Marie Sastry, stated, “We are excited to welcome Brandon and Kellen to the Amesite team. As a result of our recent $15 million IPO, we now have the capital to aggressively expand our sales and marketing team in an effort to grow wins in both the virtual enterprise training and educational markets.”

Brandon Owens joins Amesite as Director of Enterprise Sales. He has a broad range of experience in sales leadership and business strategy. Before joining Amesite, Brandon worked at Pluralsight where he focused on generating net new revenue. Prior to Pluralsight, Brandon was the Director of Business Development at ActiveCare where he developed sales strategy and led the day-to-day operations of its business growth. Prior to ActiveCare, Brandon spent four years at AT&T, Corporate Solutions in its enterprise sales division.  

Kellen Hansen joins Amesite as Director of Higher Education Sales. Before joining Amesite, Kellen spent the past six years in various roles at Instructure, a learning management platform for schools and employee development for businesses, with the most recent three years as Regional Director Senior Account Executive, Higher Education.

Dr. Sastry added, “We expect to substantially build out our finance team as well to support sales, as we work hard to develop repeatable wins in our business segments. With greater remote learning likely to become a permanent feature going forward, coupled with the need for professionals to undergo training from their employers, we stand ready to meet the needs of students and professionals alike by providing and supporting companies and universities with turnkey eLearning systems.”

Amesite has built an innovative cloud-based platform for online training and education that uses AI to improve the user experience for both learners and teachers and improve learner retention. Amesite provides a fully integrated experience by automatically delivering video, messaging, engagement, and fresh content, making teaching a much easier task by delivering a high degree of engagement for the student.

About Amesite Inc.
Amesite is a high tech artificial intelligence software company offering a cloud-based platform and content creation services for K-12, college, university and business education and upskilling. Amesite-offered courses and programs are branded to our customers.  Amesite uses artificial intelligence technologies to provide customized environments for learners, easy-to-manage interfaces for instructors, and greater accessibility for learners in the US education market and beyond.  The Company leverages existing institutional infrastructures, adding mass customization and cutting-edge technology to provide cost-effective, scalable and engaging experiences for learners anywhere.  For more information, visit https://amesite.com.

Forward Looking Statements

This communication contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended) concerning the Company, the Company’s planned online machine learning platform, the Company’s business plans, any future commercialization of the Company’s online learning solutions, potential customers, business objectives and other matters. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “plan,” “believe,” “intend,” “look forward,” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement. Risks facing the Company and its planned platform are set forth in the Company’s filings with the SEC. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Bob Prag
858-794-9500
[email protected]

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SOURCE Amesite Inc.

AGOURA HILLS, Calif. and CANTON, Ga., Nov. 12, 2020 /PRNewswire/ — American Homes 4 Rent (NYSE: AMH) and Etowah Land Partners announced today that AH4R recently acquired 55 acres of undeveloped land at Etowah Shoals Village, a mixed-use, multi-generational development in Canton, Ga. AH4R has commenced land development on the site and will invest approximately $50 million in developing River Ridge, a 198 single-family rental home community that will include a neighborhood amenity center, pool and fitness facility.

River Ridge, which represents Phase I of Etowah Shoals Village, will be located adjacent to River Pointe Parkway and I-575 at Exit 20. Etowah Land Partners recently released Phase II, a 16-acre general commercial tract that will be the gateway to the new AH4R community.  

“Cherokee County is the fastest growing county in metropolitan Atlanta and we have accomplished our goal to provide well-priced housing in a ‘LIVE, WORK, PLAY’ community with the sale to American Homes 4 Rent,” says Jeff Johnson, Managing Partner of Etowah Land Partners. “We anticipate the Phase II commercial corridor to provide mixed-use service, retail and office to serve the new budding community.”  

AH4R currently has an existing portfolio of more than 4,900 homes in the Atlanta market, which includes nine newly constructed communities including Stone Creek, Hoke O’Kelly and Overlook at Parkview. 

“American Home 4 Rent’s new home development program invests in local communities in key markets across the country,” said Jack Corrigan, Chief Investment Officer for AH4R. “We are pleased to bring our innovative River Ridge community to the vibrant Etowah Shoals Village as we expand our presence in the Atlanta area.”

River Ridge will feature three-, four- and five-bedroom homes ranging in size from approximately 1,600 to 2,800 square feet. The neighborhood will provide residents with quick access to local job centers, dining, shopping and entertainment.

Michael Cooper, Managing Principal of Blue River Development, a nationally recognized industry-leading land acquisition team, served as acting broker in the transaction.

“It has been an absolute pleasure working with the Etowah Land Partners throughout the multiple facets involved with bringing a community of this magnitude online,” said Cooper. “ELP held steadfast throughout the turbulence in the markets in 2020. Despite the continuous challenges faced, they have always kept faith in the forefront while trusting our team to find solutions each step of the way. We are thrilled to have AH4R and their AMH Development team as our building partner. They stepped up to the plate with the creative ability to work outside of the box to structure a deal that worked for everyone. ‘Hats off’ to all who contributed to make this happen as this is only the beginning for Etowah Land Partners, with a great team that will continue to make a tremendous impact in the Cherokee County/Canton community.” 

About American Homes 4 Rent

American Homes 4 Rent (NYSE: AMH) is a leader in the single-family home rental industry and “American Homes 4 Rent” is a nationally recognized brand for rental homes, known for high-quality, good value and tenant satisfaction. We are an internally managed Maryland real estate investment trust, or REIT, focused on acquiring, developing, renovating, leasing and operating attractive, single-family homes as rental properties. As of September 30, 2020, we owned 53,229 single-family properties in selected submarkets in 22 states.

Additional information about American Homes 4 Rent is available on our website at http://www.ah4r.com.

About Etowah Land Partners

Etowah Land Partners is a real estate development firm developing Etowah Shoals along the Etowah River.  Etowah Shoals Village is a proposed “destination” mixed-use multi-generational village to include 1400 single family and residential units and 32 acres of a neighborhood commercial center.  There is a unique opportunity to create a vibrant community that steps back in time and preserves the rich history of Canton, Georgia as Indian Country during the 1st 100 years of Georgia’s history, and later as a world renowned manufacturing mill for denim. Located just 40 miles north of downtown Atlanta, it has enjoyed explosive population growth with the suburban sprawl.

Contacts:

American Homes 4 Rent
Media Relations
Megan Grabos
Phone: (805) 413-5088
Email: [email protected]

Etowah Land Partners
Angie Williams, Partner
Phone: (678) 644-5589
Email: [email protected]

Forward-Looking Statements:
This press release contains “forward-looking statements.” These forward-looking statements relate to beliefs, expectations or intentions and similar statements concerning matters that are not of historical fact and are generally accompanied by words such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “intend,” “potential,” “plan,” “goal,” “outlook,” “guidance” or other words that convey the uncertainty of future events or outcomes. The Company has based these forward-looking statements on its current expectations and assumptions about future events. While the Company’s management considers these expectations to be reasonable, they are inherently subject to risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control and could cause actual results to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to update any forward-looking statements to conform to actual results or changes in its expectations, unless required by applicable law. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company in general, see the “Risk Factors” disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, and in the Company’s subsequent filings with the SEC.

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SOURCE American Homes 4 Rent

BRAMPTON, ON, Nov. 12, 2020 /CNW/ – Loblaw Companies Limited (TSX: L) (“Loblaw” or the “Company”) announced today its unaudited financial results for the third quarter ended October 3, 2020. The Company’s 2020 Third Quarter Report to Shareholders will be available in the Investors section of the Company’s website at loblaw.ca and will be filed on SEDAR and available at sedar.com.

“Loblaw delivered strong operating performance in the quarter, while investing in providing exceptional value, safety and convenience,” said Galen Weston, Executive Chairman, Loblaw Companies Limited. “We continued to build for the future, expanding our digital network and leveraging our PC Optimum^TM loyalty program to create even more value for Canadian families.”

The COVID-19 pandemic continued to impact the Company’s operations in the quarter, positively impacting sales in the Food Retail business, supported by significant investments to ensure the safety and security of customers and colleagues. Loblaw continued to make investments to enhance the overall value proposition for consumers, maintaining its promotional intensity through the pandemic to retain its share gains in conventional banners and further improve its positioning in discount banners.

Food Retail same-store sales continued at elevated levels, growing by 6.9% in the quarter, with the Company’s Market division delivering strong growth of 9.7% and the Discount division delivering 4.7% growth. Drug Retail same-store sales also experienced growth in the quarter, growing by 6.1%, with pharmacy delivering strong growth of 10.3% and front store sales growing by 2.4%. The Company invested approximately $85 million in COVID-19 related costs in the quarter primarily to ensure the safety and security of customers and colleagues.

The COVID-19 pandemic has accelerated certain longer-term trends, enabling the Company to advance its strategic growth areas of Everyday Digital, Connected Healthcare, and Payments and Rewards. The Company’s investments in its Everyday Digital platforms enable it to offer Canadians a choice of shopping in-store or online with either home delivery or convenient pickup locations. The Company’s e-commerce sales grew by 175% in the third quarter, across the Company’s grocery, pharmacy, and apparel e-commerce platforms. The platform was expanded in the quarter to include front-store items from Shoppers Drug Mart and Pharmaprix pharmacies.

In September, the Company made two important announcements in its strategic growth areas of Payments and Rewards and Connected Health. The Company launched the PC Money^TM Account, a simple no-fee way to do everyday banking, turning the act of paying bills and shopping into a way to receive PC Optimum rewards. As it continues to build out its Connected Health strategy, the Company also announced an investment in Maple Corporation and the launch of a PC Health app. Together, these two initiatives form part of the Company’s next generation digital health platform that will provide Canadians with a new, personalized healthcare experience by leveraging the power of Loblaw’s existing national healthcare network, extensive professional care services and world-class loyalty program to deliver a personalized healthcare solution for Canadians.

2020 THIRD QUARTER HIGHLIGHTS

Unless otherwise indicated, the following highlights include the impacts of the consolidation of franchises and COVID-19.

• Revenue was $15,671 million. When compared to the third quarter of 2019, this represented an increase of $1,016 million, or 6.9%.
• Retail segment sales were $15,464 million. When compared to the third quarter of 2019, this represented an increase of $1,044 million, or 7.2%.
• Food retail (Loblaw) same-stores sales growth was 6.9%.
• Drug retail (Shoppers Drug Mart) same-store sales growth was 6.1%, with pharmacy same-store sales growth of 10.3% and front store same-store sales growth of 2.4%.
• The Company’s e-commerce initiative continued to contribute to Everyday Digital sales which have grown 175% on a quarter-to-date basis.
• The Company incurred approximately $85 million in COVID-19 related costs to ensure the safety and security of customers and colleagues.
• Operating income was $718 million. When compared to the third quarter of 2019, this represented an increase of $28 million, or 4.1%.
• Adjusted EBITDA⁽²⁾ was $1,524 million. When compared to the third quarter of 2019, this represented an increase of $32 million, or 2.1%.
• Adjusted EBITDA margin⁽²⁾ was 9.7%. When compared to the third quarter of 2019, this represented a decrease of 50 bps.
• Net earnings available to common shareholders of the Company were $342 million. When compared to the third quarter of 2019, this represented an increase of $11 million, or 3.3%. Diluted net earnings per common share were $0.96. When compared to the third quarter of 2019, this represented an increase of $0.06, or 6.7%.
• Adjusted net earnings available to common shareholders of the Company⁽²⁾ were $464 million. When compared to the third quarter of 2019, this represented an increase of $6 million, or 1.3%.
• Adjusted diluted net earnings per common share⁽²⁾ were $1.30. When compared to the third quarter of 2019, this represented an increase of $0.05, or 4.0%.
• In the third quarter of 2020, the Company repurchased 5.0 million common shares at a cost of $350 million.
• In October 2020, the Company extended the maturity on its existing $1 billion revolving credit facility to October 2023.
• The Company invested $396 million in capital expenditures and generated $121 million of free cash flow⁽²⁾.
• The Company recorded approximately $12 million of restructuring and other related charges, primarily related to Process and Efficiency initiatives.
• Quarterly common share dividend to be increased by 6.3% from $0.315 per common share to $0.335 per common share.

CONSOLIDATED RESULTS OF OPERATIONS

Unless otherwise indicated, all financial information includes the impacts of the consolidation of franchises and COVID-19.

 

REPORTABLE OPERATING SEGMENTS

The Company has two reportable operating segments (with all material operations carried out in Canada):

• The Retail segment consists primarily of corporate and franchise-owned retail food and Associate-owned drug stores. The Retail segment also includes in-store pharmacies and other health and beauty products, apparel and other general merchandise and supports the PC Optimum Program; and
• The Financial Services segment provides credit card and everyday banking services, the PC Optimum Program, insurance brokerage services, and telecommunication services.

 

 

RETAIL SEGMENT

Unless otherwise indicated, the following financial information includes the impacts of the consolidation of franchises and COVID-19.

• Retail segment sales were $15,464 million. When compared to the third quarter of 2019, this represented an increase of $1,044 million, or 7.2%. After excluding the consolidation of franchises, Retail segment sales increased by $939 million or 6.7%.
• Food retail (Loblaw) sales were $11,215 million and Food retail same-store sales growth was 6.9% (2019 – 0.1%). Food same-store sales growth was positively impacted by COVID-19.
• The Company’s Food retail average article price was higher by 5.3% (2019 – 2.2%), which reflects the year over year growth in Food retail revenue over the average number of articles sold in the Company’s stores in the quarter. The increase in average article price was due to sales mix.
• Food retail basket size increased and traffic decreased in the quarter.
• Drug retail (Shoppers Drug Mart) sales were $4,249 million, and Drug retail same-store sales growth was 6.1% (2019 – 4.1%), with pharmacy same-store sales growth of 10.3% (2019 – 5.3%) and front store same-store sales growth of 2.4% (2019 – 3.1%). Drug same-store sales was positively impacted by COVID-19.
• On a same-store basis, the number of prescriptions dispensed increased by 5.0% (2019 – 2.9%) and the average prescription value increased by 4.9% (2019 – 1.6%).
• Operating income in the third quarter of 2020 was $674 million. When compared to the third quarter of 2019, this represented an increase of $19 million, or 2.9%.
• Adjusted gross profit⁽²⁾ in the third quarter of 2020 was $4,534 million. When compared to the third quarter of 2019, this represented an increase of $272 million, or 6.4%. Excluding the consolidation of franchises, adjusted gross profit⁽²⁾ increased by $153 million. Adjusted gross profit percentage⁽²⁾ of 29.3% decreased by 30 basis points compared to the third quarter of 2019. Adjusted gross profit percentage⁽²⁾, excluding the consolidation of franchises, was 26.7%. This represented a decrease of 60 basis points compared to the third quarter of 2019. Food margins were negatively impacted as a result of COVID-19 related changes in sales mix, and pricing investments. Drug retail margins were negatively impacted as a result of COVID-19 related changes in prescription refill limits from 30 days back to 90 days.
• Adjusted EBITDA⁽²⁾ in the third quarter of 2020 was $1,474 million. When compared to the third quarter of 2019, this represented an increase of $22 million, or 1.5%. The increase included the year-over-year favourable impact of the consolidation of franchises of $8 million. Excluding the consolidation of franchises, the increase was driven by an increase in adjusted gross profit⁽²⁾ of $153 million, partially offset by an increase in SG&A of $139 million. SG&A as a percentage of sales, excluding the consolidation of franchises, was 17.2%, a decrease of 10 basis points compared to the third quarter of 2019. The favourable decrease of 10 basis points was primarily related to sales leverage and process and efficiency gains which was partially offset by COVID-19 related costs and incremental e-commerce labour costs as a result of increased on-line sales.
• Depreciation and amortization in the third quarter of 2020 was $789 million, an increase of $18 million compared to the third quarter of 2019, primarily driven by the consolidation of franchises and an increase in IT assets. Included in depreciation and amortization is the amortization of intangibles assets related to the acquisition of Shoppers Drug Mart Corporation of $155 million (2019 – $157 million).
• The Company recorded approximately $12 million of restructuring and other related charges, primarily related to Process and Efficiency initiatives. Included in the restructuring charges are $6 million of charges related to the closure of the two distribution centres in Laval and Ottawa, that were previously announced in the first quarter of 2020. The Company is investing to build a modern and efficient expansion to its Cornwall distribution centre to serve its food and drug retail businesses in Ontario and Quebec. The distribution centres in Laval and Ottawa will be transferring their volumes to Cornwall and the Company expects to incur additional restructuring costs through to 2022 related to these closures.
• As at the end of the first quarter of 2020, the Company consolidated all of its remaining franchisees. Consolidation of franchises in the third quarter of 2020 resulted in a year-over-year increase in revenue of $105 million, an increase in adjusted EBITDA⁽²⁾ of $8 million, an increase in depreciation and amortization of $9 million and a decrease in net earnings attributable to non-controlling interests of $4 million.

FINANCIAL SERVICES SEGMENT

• Revenue was $278 million. When compared to the third quarter of 2019, this represented a decrease of $31 million. The decrease was primarily driven by lower interest, interchange income and credit card related fees due to lower customer spending, partially offset by higher sales attributable to The Mobile Shop^TM.
• Earnings before income taxes were $21 million. When compared to the third quarter of 2019, this represented an increase in earnings of $6 million. The increase was primarily driven by lower credit losses and expected credit losses, and lower customer acquisition costs, partially offset by lower revenue, as described above.
• In the third quarter, the Company launched the PC Money Account. New customers enrolled in the PC Money Account to date have exceeded the Company’s expectations.

COVID-19 UPDATE

General 

The COVID-19 pandemic had a significant impact on our colleagues, customers, suppliers and other stakeholders in the third quarter. As disclosed previously, starting in March, the Company reacted quickly to changing circumstances by ramping up investments in various areas.

In the four weeks following the end of the third quarter, the Company observed continued sales volatility and changes in sales mix as the pandemic impacted consumer behaviour. Food retail same-store sales trends and COVID-19 related costs were in line with third quarter results, however, Drug retail same-store sales have decelerated when compared to the third quarter.

In light of the uncertainty surrounding the duration and severity of the pandemic, it is not possible to reliably estimate the length and severity of COVID-19 related impacts on the financial results and operations of the Company. As announced on April 9, 2020, the Company has withdrawn its 2020 Outlook that is contained in its Management’s Discussion and Analysis (“MD&A”) for the year ended December 28, 2019.

Liquidity

The Company’s liquidity position is supported by a strong balance sheet and the ability to generate significant cash flow from its operations. In September 2020, DBRS Morningstar upgraded Loblaw’s credit rating from BBB to BBB (high). Subsequent to the end of the third quarter of 2020, the Company extended the maturity of its existing $1 billion credit facility to October 7, 2023. As at the end of the third quarter, the Company’s consolidated cash and short-term investments balance was $1.8 billion. The aggregate available liquidity is approximately $3.8 billion including undrawn amounts under committed credit facilities. President’s Choice Bank continues to maintain a level of liquidity well in excess of required regulatory minimums.

Risk Factor

For more information on the risks presented to the Company by the COVID-19 pandemic, please see Section 9, “Enterprise Risks and Risk Management” of the Company’s MD&A for the quarter ended October 3, 2020.

DECLARATION OF DIVIDENDS

Subsequent to the end of the third quarter of 2020, the Board of Directors declared a quarterly dividend on Common Shares and Second Preferred Shares, Series B.

NON-GAAP FINANCIAL MEASURES

The Company uses non-GAAP financial measures as it believes these measures provide useful information to both management and investors with regard to accurately assessing the Company’s financial performance and financial condition.

Management uses these and other non-GAAP financial measures to exclude the impact of certain expenses and income that must be recognized under GAAP when analyzing underlying consolidated and segment operating performance, as the excluded items are not necessarily reflective of the Company’s underlying operating performance and make comparisons of underlying financial performance between periods difficult. The Company excludes additional items if it believes doing so would result in a more effective analysis of underlying operating performance. The exclusion of certain items does not imply that they are non-recurring.

These measures do not have a standardized meaning prescribed by GAAP and therefore they may not be comparable to similarly titled measures presented by other publicly traded companies and should not be construed as an alternative to other financial measures determined in accordance with GAAP.

For reconciliation to, and description of, the Company’s non-GAAP financial measures and financial metrics, please refer to Section 11 “Non-GAAP Financial Measures” of the Company’s 2020 Third Quarter Report to Shareholders.

FORWARD-LOOKING STATEMENTS

This News Release contains forward-looking statements about the Company’s objectives, plans, goals, aspirations, strategies, financial condition, results of operations, cash flows, performance, prospects, opportunities and legal and regulatory matters. Specific forward-looking statements in this News Release include, but are not limited to, statements with respect to the Company’s anticipated future results, events and plans, strategic initiatives and restructuring, regulatory changes including further healthcare reform, future liquidity, planned capital investments, and the status and impact of Information Technology systems implementations. These specific forward-looking statements are contained throughout this News Release including, without limitation, in the “Consolidated Results of Operations” Other Business Matters section and “COVID-19 Update” section of this News Release. Forward-looking statements are typically identified by words such as “expect”, “anticipate”, “believe”, “foresee”, “could”, “estimate”, “goal”, “intend”, “plan”, “seek”, “strive”, “will”, “may”, “should” and similar expressions, as they relate to the Company and its management.

Forward-looking statements reflect the Company’s estimates, beliefs and assumptions, which are based on management’s perception of historical trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances. The Company’s expectation of operating and financial performance in 2020 is based on certain assumptions including assumptions about the COVID-19 pandemic, healthcare reform impacts, anticipated cost savings and operating efficiencies and anticipated benefits from strategic initiatives. The Company’s estimates, beliefs and assumptions are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events, including the COVID-19 pandemic and as such, are subject to change. The Company can give no assurance that such estimates, beliefs and assumptions will prove to be correct.

Numerous risks and uncertainties could cause the Company’s actual results to differ materially from those expressed, implied or projected in the forward-looking statements, including those described in Section 12 “Enterprise Risks and Risk Management” of the MD&A in the 2019 Annual Report and the Company’s 2019 Annual Information Form (for the year ended December 28, 2019) as well as COVID-19 related risks that have been added to Section 9 “Enterprise Risks and Risk Management” of the Company’s MD&A for the quarter ended October 3, 2020.

Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company’s expectations only as of the date of this News Release. Except as required by law, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CORPORATE PROFILE

2019 Annual Report and 2020 Third Quarter Report to Shareholders

The Company’s 2019 Annual Report and 2020 Third Quarter Report to Shareholders are available in the “Investors” section of the Company’s website at loblaw.ca and on sedar.com.

Additional financial information has been filed electronically with various securities regulators in Canada through the System for Electronic Document Analysis and Retrieval (SEDAR) and with the Office of the Superintendent of Financial Institutions (OSFI) as the primary regulator for the Company’s subsidiary, President’s Choice Bank. The Company holds an analyst call shortly following the release of its quarterly results. These calls are archived in the “Investors” section of the Company’s website at loblaw.ca.

Conference Call and Webcast

Loblaw Companies Limited will host a conference call as well as an audio webcast on November 12, 2020 at 10:00 a.m. (ET).

To access via tele-conference, please dial (647) 427-7450 or (888) 231-8191. The playback will be made available approximately two hours after the event at (416) 849-0833 or (855) 859-2056, access code: 9959726. To access via audio webcast, please go to the “Investors” section of loblaw.ca. Pre-registration will be available.

Full details about the conference call and webcast are available on the Loblaw Companies Limited website at loblaw.ca.

 

SOURCE Loblaw Companies Limited

Shares Outstanding:  264,348,038
Trading Symbols:   TSX: GGD
OTCQX: GLGDF

HALIFAX, NS, Nov. 12, 2020 /PRNewswire/ – GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) (“GoGold”, “the Company”) is pleased to release additional assay results from the Company’s La Trini deposit on the Los Ricos North project, including 1.3m of 1,048 g/t silver equivalent (“AgEq”) from hole LRGT-20-062.

Hole LRGT-20-062 was drilled at the La Trini deposit and intersected silicified and altered quartz rhyolite units from 85.3m to 103.5m for 18.2m of 124 g/t AgEq and again from 111.3m to 120.5m for 9.3m of 169 g/t AgEq.  The 18.2m of 124 g/t AgEq consisted of 71 g/t silver and 0.71 g/t gold and included high grade core of 2.0m of 550 g/t AgEq.  The second intercept of 9.3m of 169 g/t AgEq consisted of 124 g/t silver and 0.60 g/t gold, and included a high grade core of 1.3m of 1,048 g/t AgEq, which was made up of 734 g/t silver and 4.20 g/t gold.

“We’re pleased with the strong results from the drilling program at La Trini and expect additional results shortly from Salomon-Favor where 3 drill rigs operate continually.  We anticipate these results will build upon the excellent results achieved in our initial drill holes at Salomon-Favor,” said Brad Langille, President and CEO.

Hole LRGT-20-055 intersected 25.9m of 78 g/t AgEq from 73.1 to 99.0m, consisting of 52 g/t silver and 0.34 g/t gold, which included 4.7m of 184 g/t AgEq.  Hole LRGT-20-056 intersected 2.4m of 304 g/t AgEq from 156.6 to 159.0m, which was made up of 124 g/t silver and 0.81 g/t gold.

Currently the Company has 6 drill rigs operating at Los Ricos North, with 2 operating at the La Trini target, 3 drilling at the Salomon-Favor target, and 1 drilling at El Orito.  Detailed intersections are listed in Table 1 and the hole locations are shown in Table 2.

A drill plan map of La Trini showing the latest results is available at https://gogoldresources.com/images/uploads/files/LRN20201112.pdf 

Table 1:  Drill Hole Intersections

1. Not true width
2. AuEq and AqEq converted using a silver to gold ratio of 75:1
3. Holes LRGT-20-058 and LRGT-20-061 are excluded from above, as mineralization was not significant.  Results are available in the drilling summary at gogoldresources.com

Table 2: Drill Hole Locations  

Los Ricos District Exploration Projects
The Company’s two exploration projects at its Los Ricos property are in Jalisco state, Mexico.  The Los Ricos South Project began in March 2019 and includes the ‘Main’ area, which is focused on drilling around a number of historical mines including El Abra, El Troce, San Juan, and Rascadero, as well as the Cerro Colorado, Las Lamas and East Vein targets.  An initial resource on the Los Ricos South project was announced on July 29, 2020 and indicated a Measured & Indicated Mineral Resource of 63.7 million ounces AgEq grading 199 g/t AgEq contained in 10.0 million tonnes, and an Inferred Resource of 19.9 million ounces AgEq grading 190 g/t AgEq contained in 3.3 million tonnes.

The Los Ricos North Project was launched in March 2020 and includes drilling at the Salomon-Favor, La Trini, and El Orito targets.

Procedure, Quality Assurance / Quality Control and Data Verification 
The diamond drill core (HQ size) is geologically logged, photographed and marked for sampling. When the sample lengths are determined, the full core is sawn with a diamond blade core saw with one half of the core being bagged and tagged for assay. The remaining half portion is returned to the core trays for storage and/or for metallurgical test work. 

The sealed and tagged sample bags are transported to the ActLabs facility in Zacatecas, Mexico. ActLabs crushes the samples and prepares 200-300 gram pulp samples with ninety percent passing Tyler 150 mesh (106μm). The pulps are assayed for gold using a 50-gram charge by fire assay (Code 1A2-50) and over limits greater than 10 grams per tonne are re-assayed using a gravimetric finish (Code 1A3-50). Silver and multi-element analysis is completed using total digestion (Code 1F2 Total Digestion ICP). Over limits greater than 100 grams per tonne silver are re-assayed using a gravimetric finish (Code 8-Ag FA-GRAV Ag).

Quality assurance and quality control (“QA/QC”) procedures monitor the chain-of-custody of the samples and includes the systematic insertion and monitoring of appropriate reference materials (certified standards, blanks and duplicates) into the sample strings. The results of the assaying of the QA/QC material included in each batch are tracked to ensure the integrity of the assay data.  All results stated in this announcement have passed GoGold’s QA/QC protocols.

Mr. David Duncan, P. Geo. is the qualified person as defined by National Instrument 43-101 and is responsible for the technical information of this release. 

About GoGold Resources
GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico.  The Company operates the Parral Tailings mine in the state of Chihuahua and has the Los Ricos South and Los Ricos North exploration projects in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects. For more information visit gogoldresources.com.

CAUTIONARY STATEMENT:

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of any of GoGold’s securities in the United States.

This news release may contain “forward-looking information” as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Parral tailings project, the Los Ricos South and North projects, future operating margins, future production and processing, and future plans and objectives of GoGold, including the timing for completing an initial resources estimate at Los Ricos North, constitute forward looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of GoGold and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the performance of the Parral project. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.

Important factors that could cause actual results to differ materially from GoGold’s expectations include exploration and development risks associated with GoGold’s projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates, and global economic conditions. For additional information with respect to risk factors applicable to GoGold, reference should be made to GoGold’s continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, GoGold’s Annual Information Form. The forward-looking information contained in this release is made as of the date of this release.

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SOURCE GoGold Resources Inc.