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NEW YORK, Nov. 13, 2020 (GLOBE NEWSWIRE) — Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action that has been filed on behalf of investors that purchased or acquired the common stock of Golar LNG Limited (“Golar” or the “Company”) (NASDAQ: GLNG) between April 30, 2020, and August 10, 2020 (the “Class Period”). The lawsuit filed in the United States District Court for the Central District of California alleges violations of the Securities Exchange Act of 1934.

If you purchased Golarsecurities, and/or would like to discuss your legal rights and options please visit GLNG Shareholder Class Action Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and prospects. Specifically, Defendants misrepresented and/or failed to disclose to investors: (1) that certain employees, including Hygo’s CEO, had bribed third parties, thereby violating anti-bribery policies; (2) that, as a result, the Company was likely to face regulatory scrutiny and possible penalties; (3) that, as a result of the foregoing reputational harm, Hygo’s valuation ahead of its IPO would be significantly impaired; and (4) that, as a result of the foregoing, Defendants positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On September 24, 2020, media reported that Hygo’s CEO Eduardo Navarro Antonello was involved in a bribery network investigated in Brazil’s Operation Car Wash.

On this news, the Company’s share price fell $3.28.

If you wish to serve as lead plaintiff, you must move the Court no later than November 23, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you purchased Golarsecurities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/golarlnglimited-glng-shareholder-class-action-lawsuit-stock-fraud-315/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2020 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin.  Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
[email protected]

TORONTO, Nov. 13, 2020 (GLOBE NEWSWIRE) — Silver Bear Resources Plc (“Silver Bear” or the “Company”) (TSX: SBR) announces the filing its unaudited financial results for the three and nine-month period ended 30 September 2020 today, including development highlights from its Mangazeisky silver project in Far East Russia.

For complete details of the unaudited Interim Consolidated Financial Statements and associated Management’s Discussion and Analysis please refer to the Company’s filings on SEDAR (www.sedar.com) or the Company’s website (www.silverbearresources.com).

Q
3
2020 QUARTER HIGHLIGHTS
During the nine-month period ended 30 September 2020 the Group production statistics included:

• Mined a total of 89,703 tonnes of ore, processed 80,748 tonnes of ore at an average grade of 677 g/t of silver, producing a total of 1,501,123 ounces of silver;
• Sold a total of 1,514,374 ounces of silver totalling production revenue of US$ 28,410,544 and reported a total comprehensive loss of $42,468,501 and an accumulated deficit of $232,055,475.
• In August 2020, the Group has started its 2020 exploration drilling activities, about 4,000 metres of core drilling program is expected to test the both flanks of Vertikalny deposit where previous work has identified possible additional resources, to further test the Porfirovy deposit to the south and also additional infill drilling at the Mangazeisky North resource; and
• As of the date of this report, the Group confirms there have been no major disruptions at either sites or to the Group’s planned production and operations due to the COVID-19 pandemic.

MANGAZEISKY SILVER PROJECT COMMERCIAL PRODUCTION
The Group achieved first pre-commercial silver production in 1 April 2018 through its commissioning activities at the Mangazeisky Silver Project as construction of the processing plant and associated infrastructure was completed. The Group achieved commercial production at the beginning of the third quarter of year 2019. The table below details the production highlights for the three and nine-month period ended 30 September 2020 and 2019.

Development & Operational Activities

During the first quarter, the Group’s 2020 winter road procurement and transportation delivered approximately 14,000 tonnes of supplies, including new drill rig, excavator and the new XRT processing equipment. The winter road was closed on 30^th of April this year, and accomplished delivery of all the Group’s demand for gas condensate and diesel fuel. Deliveries for the summer and fall months are now via cargo flights using the Group’s newly completed airstrip.

During the second quarter, in May 2020, following a prescribed quarantine period, the XRT consultants arrived at site and completed the final commissioning. The XRT equipment is now fully operational. The flotation facility construction project design development phase was completed in the second quarter.

During the third quarter, the Group began the construction on the foundation for the new flotation plant, that is designed to process the primary sulphide ores at the Vertikalny deeper pit and underground mining operations. It is expected that the new flotation plant will be completed in early 2022.

As of the date of this report there are no construction contractors and approximately 200 Prognoz employees at site. There are also 63 contractors, namely catering, process consultants, and construction workers. As of 30 September 2020, there was no lost time recorded accident at site. In light of the World Health Organization (“WHO”) declaring COVID-19 a global pandemic in March of this year, the Group has developed and implemented a response and mitigation plan for both its Yakutsk head office and Mangazeisky mine site. At the date of this report the Group has had no major disruptions at either sites or to our planned production and operations, however we continue to monitor the situation ensuring we keep the safety of our work force our main priority.

Corporate & Financing Activities

On 27 May 2020, the Group announced that it has further amended its existing facilities agreement (the “Facilities Agreement”) with Inflection Management Corporation Limited (“Inflection”), a major shareholder of the Company, and Unifirm Limited (“Unifirm”), an affiliate of A.B. Aterra Resources Ltd. (“Aterra”), also a major shareholder of the Company. The amendments to the Facilities Agreement (the “Facilities Agreement Amendments”): (i) reduce the interest payable on all funds drawn under the Facilities Agreement from 9% to 7% per annum; and (ii) extend the first interest period under the Facilities Agreement and revise the interest capitalization date to 1 April 2020.

The Facilities Agreement Amendments are a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) because Inflection and Aterra, an affiliate of Unifirm, are related parties to the Company, as its major shareholders. Pursuant to Section 5.7(f) of MI 61-101, the Company is exempt from obtaining approval of the Company’s minority shareholders as a result of the Facilities Agreement Amendments being an amendment to a loan to the Company (obtained from a related party on reasonable commercial terms that are not less advantageous to the Company than if such credit facility was obtained through an arm’s length lender) that has no equity or voting component. The Company will file a material change report in respect of the Facilities Agreement Amendments. The Group filed a material change report in respect of the Facilities Agreement Amendments on December 24, 2019.

Exploration Activities

During the third quarter 2020, the Group was working on the completion of the details of its exploration program for the upcoming exploration season. During the season the Group is planning to target extensions of existing deposits and new areas of significance with the intent to grow the Group’s resources and establish future drilling programs. In August 2020, the Group has started its 2020 exploration drilling activities. About 4,000 metres of core drilling is expected to test the both flanks of Vertikalny deposit where previous work has identified possible additional resources, to further test the Porfirovy mineralization area to the south as well as additional infill drilling at the Vertikalny and Mangazeisky North deposits.

OUTLOOK FO
R THE
REMAINDER OF YEAR
In order to fund further development operations and maintain rights under licenses and agreements, the Group has secured funding in the form of long-term loans of which the principal totals $185 millions and the Group may be dependent on securing additional financing until such time that it generates sufficient operating cash flow to meet its liabilities.

In consideration of the Group’s going concern and following the initiation of silver production in the second quarter of 2018 and now achieving full commercial production in the third quarter of 2019 the Group’s priorities for fourth quarter and the full year ending 31 December 2020, are as follows:

• Although at the date of this report COVID-19 has not materially impacted the Group’s silver production, there is no guarantee that it will not going forward, as such the forecast for the whole of 2020 has been revised to approximately 1.9 million ounces of silver;
• Following the developing of construction documentation for the new flotation plant at Vertikalny in Q3 2020, In Q4 2020, the Group will start the construction of the foundation for the new flotation plant;
• Complete the 2020 exploration program that target extension of existing deposits and new areas of significance with the intent to grow the Group’s resources and establish future drilling programs;
• Continue to monitor all operations to further optimize operating costs and improve operational efficiencies; and
• Continue to build up operational capabilities and staffing and introduce new systems for production monitoring and management accounting.

About Silver Bear
Silver Bear (TSX: SBR) is focused on the development of its wholly-owned Mangazeisky Silver Project, covering a licence area of approximately 570 km² that includes the high-grade Vertikalny deposit (amongst the highest- grade silver deposits in the world), located 400 km north of Yakutsk in the Republic of Sakha within the Russian Federation. As of April 2018, the Company attained first silver production as a result of commissioning activities and on 1 July 2019 the Company achieved full commercial production. Other information relating to Silver Bear is available on SEDAR at www.sedar.com as well as on the Company’s website at www.silverbearresources.com.

Cautionary Notes
This release and subsequent oral statements made by and on behalf of the Company may contain forward-looking statements, which reflect management’s expectations. Wherever possible, words such as “intends”, “expects”, “scheduled”, “estimates”, “anticipates”, “believes” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, have been used to identify these forward-looking statements. Although the forward-looking statements contained in this release reflect management’s current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, the Company cannot be certain that actual results will be consistent with these forward-looking statements. A number of factors could cause events and achievements to differ materially from the results expressed or implied in the forward-looking statements. Such risk factors include, but are not limited, to the risk factors identified by the Company in its continuous disclosure filings filed from time to time on SEDAR. These factors should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Forward-looking statements necessarily involve significant known and unknown risks, assumptions and uncertainties that may cause the Company’s actual results, events, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, prospective investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, unless otherwise required by law.

CONTACT INFORMATION:

Washington, Nov. 13, 2020 (GLOBE NEWSWIRE) — The U.S. Small Business Administration announced the updated interest rates for the 504 Loan Program offered by Certified Development Companies (CDC). The program now allows for 10, 20, and 25-year interest rates at 2.231 percent, 2.364 percent, and 2.399 percent, respectively. Small businesses can now apply for a 504 loan at these low-interest rates.

“These are very encouraging terms and very supportive of our nation’s goal to bounce-back from COVID-19,” said William Manger, SBA Chief of Staff and Associate Administrator for the Office of Capital Access. “The longer terms and now lowest interest rates support and encourage entrepreneurs to step outside of the box and look at real investments.”

Partnered with the SBA are the CDCs, which are the driving force behind the 504 Loan Program. See SBA’s 504 Loan Program factsheet for more information on how to expand your business real estate or improve your working capital.

The 504 Loan Program is an SBA business loan program authorized under Title V of the Small Business Investment Act of 1958, 15 U.S.C. 695 et seq.  The core mission of the 504 Loan Program is to provide long-term financing to small businesses for the purchase or improvement of land, buildings, and major equipment, to facilitate the creation or retention of jobs, and to support local economic development.  Under the 504 Loan Program, loans are made in conjunction with private-sector lenders to small businesses by CDCs, which are certified and regulated by the SBA to promote economic development within their community.

For questions about the 504 Loan Program, please contact your local SBA District office.                                     

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About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit https://www.sba.gov.

Washington, D.C., Nov. 13, 2020 (GLOBE NEWSWIRE) — The New Civil Liberties Alliance, a nonpartisan, nonprofit civil rights group, has filed a motion for injunction pending appeal in the U.S. Court of Appeals for the Eleventh Circuit in the case of Brown, et al. v. CDC, et al. NCLA is seeking to reverse an erroneous decision by the U.S. District Court for the Northern District of Georgia denying property owners’ motion for preliminary injunction.

The district court erred because it placed an impossible burden of proof on property owners in contradiction to other courts across the country, which have recognized that being deprived of your residential property is in fact an intrinsically irreparable injury. In its appeal, NCLA also argues that CDC’s nationwide moratorium order has no statutory or regulatory basis. No provision of law grants the agency the broad, unilateral authority to void state landlord-tenant laws. If the district court’s reading of CDC’s authority were to stand, the agency could take virtually any action overturning state law as long as it asserted a public-health benefit.

NCLA’s original lawsuit challenges the authority of CDC to impose the “Temporary Halt in Residential Evictions to Prevent Further Spread of COVID-19” order, which claims stopping residential evictions will help contain COVID-19. Because the act of Congress upon which CDC relies does not actually confer on the agency the power to halt evictions or to preempt state landlord-tenant laws, the nationwide eviction moratorium order violates the U.S. Constitution and should be enjoined and declared void. NCLA’s lawsuit also argues that CDC had deprived property owners of their constitutional due process rights to have access to state courts.

At a minimum, there is a substantial question as to whether the CDC order may permissibly stop all 50 states from applying their own legal regimes governing real property. And unless the Eleventh Circuit acts, the property owners will continue to suffer the irreparable deprivation of their real property, as well as the unrecoverable loss of all economic value of their properties.

NCLA released the following statements:

“CDC’s unprecedented order stakes out an untenable position that CDC can change any law in any state as long as it merely invokes the threat of COVID-19. The Eleventh Circuit must step in and make clear that the Constitution still applies—even in a pandemic.”

— Caleb Kruckenberg, Litigation Counsel, NCLA

“Incredibly, the district court held that no deprivation of due process occurred here because the eviction moratorium expires on Dec. 31. You’ve probably heard the saying that ‘justice delayed is justice denied.’ There is no rule that authorizes federal agencies to temporarily deprive housing providers of due process rights. What the CDC has done here is unlawful, and the Eleventh Circuit needs to intervene immediately to put a stop to it.”

— Mark Chenoweth, Executive Director and General Counsel, NCLA

For more information, visit the case summary page 

here
. 

ABOUT NCLA

NCLA is a nonpartisan, nonprofit civil rights group founded by prominent legal scholar Philip Hamburger to protect constitutional freedoms from violations by the Administrative State. NCLA’s public-interest litigation and other pro bono advocacy strive to tame the unlawful power of state and federal agencies and to foster a new civil liberties movement that will help restore Americans’ fundamental rights.

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