Market Newsdesk

MONTREAL, Nov. 11, 2020 (GLOBE NEWSWIRE) — mdf commerce inc. (TSX:MDF), a SaaS leader in digital commerce technologies, reported Q2 2021 financial results for the period ending September 30^th, 2020. All dollars are expressed in Canadian currency.

“We are pleased to see the acceleration of revenue growth this quarter”, said Luc Filiatreault, CEO of mdf commerce. “This validates our ongoing investments to exploit the significant market opportunities available to us globally.”

Second Quarter Fiscal 2021 Financial Results

Total revenue for the quarter was $20.8M, a 14.0% increase over $18.2M reported for Q2, 2020.

Three consolidated platforms of business contributed to revenue for the quarter:

• Strategic Sourcing Platform generated $8.0M of revenue for the quarter, a 5.4% increase over $7.6 M reported for the previous year quarter and 3.9% growth sequentially from Q1, 2021. The recurring portion of Strategic Sourcing revenue grew by 6.4% to $7.5 M over $7.0M reported for the previous year quarter.
• Unified Commerce Platform, which includes supply chain management, generated $9.1M of revenue, a 54% increase over $5.9M reported for the previous year quarter. The recurring portion of revenue grew by 37% to $5.3 M, up from $3.9 M reported in the previous year.
• Marketplaces Platform contributed $3.7M of revenue, a 23% decrease from $4.7M reported for the previous quarter. The marketplaces are comprised of platforms where the Company is focused on maximizing cash contribution. As a percentage of total, marketplace revenue declined from 26.0% to 17.7% in Q2, 2020. As revenue scales in Strategic Sourcing and Unified Commerce, sunsetting Marketplace revenue will continue to become less impactful on future performance.

Monthly recurring revenue (MRR⁴) represented 76% of total revenue, which was stable in comparison to Q1, 2021. For the Strategic Sourcing Platform, recurring revenue represented 93% of its revenue, while Unified Commerce generated 58% recurring revenue as a percentage of its revenue.

Total gross margin was reported at 67%, in comparison to 74% reported for Q2, 2020. The decline in gross margin is associated with product mix, as it mainly relates to the implementation of our solutions to new clients from Unified Commerce, where gross margin was 59% for the quarter.

Total Adjusted EBITDA¹ reported for the quarter was $2.3 million, down 38% in comparison to $3.7 million reported for Q2, 2020. Total adjusted EBITDA margin for the quarter was 11.4%. Adjusted EBITDA in Q2, 2021 includes a net amount (net of a tax credit reduction of $0.2 million) of $1.2 million of wage subsidy as part of the federal government’s assistance program introduced on March 27, 2020 in the context of COVID-19. Total adjusted EBITDA declined year-over-year primarily due to increased investments in sale, marketing, product development and R&D to support the 5-Year Transformation Plan.   The company plans to achieve SaaS growth by exploiting significant global market opportunities in digital commerce.

Operating loss for the quarter was $0.1 million, in comparison to $2.0 million operating profit reported for Q2, 2020. The decline in operating profits, similar to adjusted EBITDA, was impacted by increased investments in growth in order to fulfill the 5-year Transformation Plan. On a per share basis, total net loss for the quarter was reported at $0.04 per share compared to net income per share of $0.12 reported in the previous year quarter.

Year-to-date total revenue was $41.3 million, a 7.4% increase over $38.4 million reported for the corresponding period of fiscal 2020. For the first half of fiscal 2021, total adjusted EBITDA was $4.1 million, compared to $7.9 million for the first half of fiscal 2020. This decrease was due to divestitures in Q1 fiscal 2020.

Total deferred revenue, which management uses as a proxy for Software-as-a-Service bookings, was $18.1 million in Q2 2021, up 32% over $13.8 million reported for Q2, 2020.

During the quarter, approximately 6,000 suppliers were added to the Strategic Sourcing Platform, along with 66 new active procuring entities. Approximately 161 SME, and 2 enterprise-level mandates were added to the Unified Commerce Platform.

“Deferred revenue growth of 32% this quarter is a good lead indicator that recurring revenue trajectories should remain positive going forward” said Luc Filiatreault. “We are actively investing and reallocating resources in support of our long-term strategic plan and are quickly repositioning the Company in order to capitalize on the vast global market opportunities in the SaaS commerce technology category.”

As at the end of Q2, fiscal year 2021, the company had liquidity of $14.3 M. Subsequent to the end of the quarter, mdf commerce refinanced and expanded access to debt, and also raised $44.6 M of net additional equity via a bought deal syndicate led by Stifel GMP. As a result, liquidity has expanded to approximately $88 M.

“Our investments in sales, marketing and product development are beginning to drive the performance that we planned for in our 5-year Transformation Plan.” added Paul Bourque, CFO of mdf commerce. “After our debt re-financing and our equity raise, we are satisfied with current levels of liquidity”.

SUMMARY OF CONSOLIDATED RESULTS
	Three months ended				Six months ended
	September 30th				September 30th
	2020		2019		2020		2019
In thousands of Canadian dollars, except per share amounts	$		$		$		$
Revenues	20,752		18,211		41,286		38,439
Adjusted EBITDA	2,335		3,740		4,136		7,884
Operating (loss) profit	(93	)	2,008		(791	)	4,522
Profit (loss)	(643	)	1,834		(1,880	)	2,885
Adjusted profit (loss)	(643	)	1,660		(1,880	)	2,968
Adjusted earnings (loss) per share (basic and diluted)	(0.04	)	0.11		(0.11	)	0.20
Earnings (loss) per share (basic and diluted)	(0.04	)	0.12		(0.11	)	0.19
Basic and diluted weighted average number of shares outstanding (in thousands)	17,961		14,849		17,182		14,849

¹ Adjusted EBITDA is a non-IFRS financial measure; see the Reconciliation of adjusted EBITDA and profit as well as the “About mdf commerce inc.” sections.
² Adjusted profit (loss) and adjusted basic and diluted profit (loss) per share are non-IFRS financial measures; see the Reconciliation of adjusted profit and profit as well as the “About mdf commerce inc.” sections.
³ Unless otherwise indicated, all amounts are in Canadian dollars. 
⁴ MMRs are a non-IFRS financial measure and are composed of subscription and support revenues that are recurring in nature. Therefore, they exclude one-time fees and professional fees and other types of non-recurring revenues.

RECONCILIATION OF ADJUSTED EBITDA AND PROFIT (LOSS)
	Three months ended				Six months ended
	September 30th				September 30th
	2020		2019		2020		2019
In thousands of Canadian dollars.	$		$		$		$
Profit (loss)	(643	)	1,834		(1,880	)	2,885
Income tax expense (recovery)	(34	)	389		(289	)	877
Depreciation of property, plant and equipment and	1,019		734		1,941		1,413
amortization of intangible assets
Amortization of acquired intangible assets	910		601		1,916		1,202
Amortization of right-of-use assets	419		397		883		747
Amortization of deferred financing costs	10		10		20		19
Foreign exchange loss (gain)	310		(280	)	740		84
Loss (gain) on disposal of a subsidiary	–		(174	)	–		83
Stock-based compensation expense	80		–		187		–
Interest on lease liability	98		93		197		184
Interest on long-term debt	166		136		421		390
Adjusted EBITDA	2,335		3,740		4,136		7,884

RECONCILIATION OF PROFIT (LOSS) AND ADJUSTED PROFIT (LOSS)
	Three months ended				Six months ended
	September 30th				September 30th
	2020		2019		2020		2019
In thousands of Canadian dollars	$		$		$		$
Profit (loss)	(643	)	1,834		(1,880	)	2,885
Loss (gain) on disposal of a subsidiary	–		(174	)	–		83
Adjusted profit (loss)	(643	)	1,660		(1,880	)	2,968
Earnings (loss) per share (basic and diluted)	(0.04	)	0.12		(0.11	)	0.19
Adjusted earnings (loss) per share (basic and diluted)	(0.04	)	0.11		(0.11	)	0.20

About
mdf
commerce inc.

mdf
commerce inc. (TSX:MDF), formerly known as Mediagrif Interactive Technologies Inc., enables the flow of commerce by providing a broad set of SaaS solutions that optimize and accelerate commercial interactions between buyers and sellers. Our platforms and services empower businesses around the world, allowing them to generate billions of dollars in transactions on an annual basis. Our strategic sourcing, unified commerce and emarketplace platforms are supported by a strong and dedicated team of more than 600 employees based in Canada, the United States, Denmark, Ukraine and China. For more information, please visit us at mdfcommerce.com, follow us on LinkedIn or call at 1-877-677-9088.

In addition to providing IFRS earnings calculations,
the
Company uses non-IFRS financial performance measures to assess operating performance, including but not limited to monthly recurring revenue, adjusted earnings, adjusted earnings per share and earnings before interest, tax, depreciation and amortization, foreign exchange gain (loss) and other income (expense) (“Adjusted EBITDA”).

Operating profit and adjusted EBITDA are not intended to be measures that should be regarded as an alternative to other financial operating performance measures prepared in accordance with IFRS. Those measures do not have a standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies.
Operating expenses,
adjusted EBITDA and net profit are provided to assist investors in determining the Corporation’s ability to generate profitability from its operations and to evaluate its financial performance.

This press release contains certain forward-looking statements with respect to the Corporation. These
forward-looking
statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those expected by these forward-looking statements. We consider the assumptions on which these forward-looking statements are based to be reasonable but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect since they are subject to the risks and uncertainties that affect us. We disclaim any intention or obligation to update or revise any forward-looking statements, whether
as a result
of
new information, future events or otherwise, except as required by applicable securities legislation. Unless otherwise indicated, all amounts are in Canadian dollars.

Audited consolidated financial statements, accompanying notes and MD&A are available on www.m
dfcommerce
.com and have been filed with SEDAR at

www.sedar.com

.

See Key Performance Indicators and Non-IFRS Performance Measures in Management’s Discussion and Analysis of the Sept 30, 2021 Financial Statements
.

For further
information:

mdf
commerce inc.

Luc Filiatreault, President & CEO
Toll free: 1-877-677-9088, ext. 2004
Email: [email protected]

mdf
commerce inc.

Paul Bourque, Chief Financial Officer
Toll free: 1-877-677-9088, ext. 2135
Email: [email protected]

mdf
commerce inc.

André Leblanc, Vice President, Marketing and Public Affairs
Toll Free: 1 877 677-9088, ext. 8220
Email: [email protected]  

NEW YORK, Nov. 11, 2020 (GLOBE NEWSWIRE) — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Evolus, Inc. (NASDAQ: EOLS) between February 1, 2019 and July 6, 2020, inclusive (the “Class Period”), of the important December 15, 2020 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for Evolus investors under the federal securities laws.

To join the Evolus class action, go to http://www.rosenlegal.com/cases-register-1954.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the real source of botulinum toxin bacterial strain as well as the manufacturing processes used to develop Jeuveau™ originated with and were misappropriated from Medytox; (2) sufficient evidentiary support existed for the allegations that Evolus misappropriated certain trade secrets relating to the botulin toxin strain and the manufacturing processes for the development of Jeuveau™; (3) as a result, Evolus faced a real threat of regulatory and/or court action, prohibiting the import, marketing, and sale of Jeuveau™; (4) which in turn seriously threatened Evolus’ ability to commercialize Jeuveau™ in the United States and generate revenue; and (5) any revenues generated from the sale of Jeuveau™ were based on Evolus’ unlawful activities, including the misappropriation of trade secrets and secret manufacturing processes belonging to Allergan and Medytox. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 15, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1954.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

SHANGHAI, China, Nov. 11, 2020 (GLOBE NEWSWIRE) — Baozun Inc. (Nasdaq: BZUN and HKEX:9991) (“Baozun” or the “Company”), the leading brand e-commerce service partner that helps brands execute their e-commerce strategies in China, today announced that the total order value settled through payment gateways on all of the Company’s e-commerce channels reached a record RMB16.50 billion  for the eleven-day period around the 2020 11.11 Shopping Festival (“11.11 Festival”), an increase of 54.8% from the same period last year. The eleven-day period lasted from November 1 through November 11, 2020.

To support the expected surge in orders and maximize traffic acquisition for its brand partners, Baozun upgraded its dynamic technology system, expanding capacity to processing of up to five million orders per hour. It also launched a variety of automated SKU planning and launch tools, short-video processing, and sales intelligence applications for its proprietary Retail Operation Support System (“ROSS”) to promote greater efficiency across its platform.

In addition to the customary peak event on November 11, this year Tmall launched an additional peak shopping window, for the first time ever, between November 1 and November 3. The extended shopping period enabled merchants to double up on promoting their products to consumers across China. The dual shopping window created a need for extended marketing while the increase in pre-sales boosted demand for logistics solutions and services. Baozun’s core e-commerce infrastructure, including logistic and supply chain, fully leverages algorithms to optimize real-time monitoring of big data across the entire order flow process, beginning with pre-sales, significantly improving order fulfillment speed and overall customer experience. Baozun also introduced several digital marketing data analysis tools, to provide comprehensive marketing and interactive initiatives for targeted and differentiated consumer groups across O2O scenarios, which was critical for driving conversion and engagement throughout the entire 11.11 Festival.

Mr. Vincent Qiu, Chief Executive Officer of Baozun, commented, “We are pleased to report yet another year of record 11.11 Festival results, with the total number of orders increasing by 35% to 41 million. The dual shopping window event created unprecedented operational, marketing and logistics challenges that required extensive advanced strategic planning, testing, and coordination with brand partners, and we are quite pleased with how smoothly everything progressed. Our performance demonstrates our ability to empower brands with the best technology and data intelligence driven support. We intend to keep driving forward new innovations that support our partners e-commerce strategies and fuel our own future growth as we look to strengthen our position as the leading e-commerce service provider in China.”

About Baozun Inc.

Baozun is the leader and a pioneer in the brand e-commerce service industry in China. Baozun empowers a broad and diverse range of brands to grow and succeed by leveraging its end-to-end e-commerce service capabilities, omni-channel coverage and technology-driven solutions. Its integrated one-stop solutions address all core aspects of the e-commerce operations covering IT solutions, online store operations, digital marketing, customer services, and warehousing and fulfillment.

For more information, please visit http://ir.baozun.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “potential,” “continue,” “ongoing,” “targets,” “guidance,” “going forward,” “outlook” and similar statements. Statements that are not historical facts, including quotes from management in this announcement and statements about the Company’s strategies and goals, are or contain forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s operations and business prospects; the Company’s business and operating strategies and its ability to implement such strategies; the Company’s ability to develop and manage its operations and business; competition for, among other things, capital, technology and skilled personnel; the Company’s ability to control costs; the Company’s dividend policy; changes to regulatory and operating conditions in the industry and geographical markets in which the Company operates; and other risks and uncertainties. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission and announcements on the website of The Stock Exchange of Hong Kong Limited. All information provided in this press release is as of the date of this press release and are based on assumptions that the Company believes to be reasonable as of this date, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

Baozun Inc.
Ms. Wendy Sun
Email: [email protected]

Christensen
In China
Mr. Andrew McLeod
Phone: +852-2232-3941
E-mail: [email protected]

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: [email protected]

Source: Baozun Inc.

TORONTO, Nov. 11, 2020 (GLOBE NEWSWIRE) — WPT Industrial Real Estate Investment Trust (the “REIT”) (TSX: WIR.U; WIR.UN; OTCQX: WPTIF) announced today its results for the three and nine months ended September 30, 2020. All dollar amounts are stated in U.S. funds.

Highlights for the
three months ended
September
30
, 2020
:

• Collected 99.6% of billed rent for the quarter, continuing the REIT’s record of strong rent collections
• Investment properties revenue and net operating income (“NOI”)⁽¹⁾ increased 55.5% and 52.2%, respectively, over the same period last year
• Funds from operations (“FFO”)⁽¹⁾ and adjusted funds from operations (“AFFO”)⁽¹⁾ increased 48.7% and 43.5%, respectively, over the same period last year
• Occupancy increased to 98.3% from 97.4% in the second quarter
• Weighted average cash and straight-line rent re-leasing spreads of 15.9% and 21.3%, respectively, for lease renewals signed in the quarter

“The REIT continued its strong operating performance with Q3 representing another quarter of nearly 100% rent collection and positive momentum on the leasing front, including increased occupancy and favorable re-leasing spreads on renewals. We also expanded our proprietary development pipeline and third-party assets under management during the quarter and look forward to building on that momentum and growth in the quarters to come,” commented Scott Frederiksen, Chief Executive Officer.

F
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A
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NA
L
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G
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G
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T
S

(all figures in thousands of US dollars, except per Unit amounts, ratios, percentages, number of investment properties, amounts related to remaining lease term and GLA)

		Three months ended September 30,						Nine months ended September 30,
			20 20			201 9			20 20			2019
Operating Results:
	Investment properties revenue	$	45,621		$	29,335		$	122,938		$	83,247
	Management fee revenue	$	916		$	2,237		$	1,285		$	3,086
	NOI (1)	$	33,151		$	21,788		$	88,575		$	61,093
	Net income and comprehensive income	$	78,419		$	21,342		$	175,871		$	71,619
	Net income and comprehensive income per Unit (basic) (2)(3)	$	0.922		$	0.362		$	2.069		$	1.257
	Net income and comprehensive income per Unit (diluted) (2)(4)	$	0.900		$	0.351		$	2.019		$	1.218
	FFO (1)	$	22,020		$	14,807		$	53,162		$	37,382
	FFO per Unit (diluted) (1)(2)(4)	$	0.253		$	0.243		$	0.636		$	0.636
	AFFO (1) (5)	$	17,192		$	11,980		$	40,803		$	28,437
	AFFO per Unit (diluted) (1)(2)(4)	$	0.197		$	0.197		$	0.491		$	0.484
	Cash flows from operations	$	33,227		$	20,246		$	83,625		$	53,278
	Adjusted Cash Flows from Operations (“ACFO”) (1)	$	20,148		$	12,577		$	49,564		$	33,534
	Book value per Unit (1)	$	13.72		$	13.09		$	13.72		$	13.09
Distributions:
	Distributions per Unit (2)(5)	$	0.190		$	0.190		$	0.570		$	0.570
	Distributions declared (3)(5)	$	16,304		$	11,353		$	47,696		$	33,385
	ACFO payout ratio (1)(5)		80.9	%		90.3	%		96.2	%		99.6	%
	Weighted average number of Units (basic) (2)(3)		84,980			59,014			81,048			56,954
	Weighted average number of Units (diluted) (2)(4)		87,076			60,875			83,051			58,789

As at			September 30 , 20 20				December 31, 201 9
Operational Information:
	Number of investment properties			99				74
	Number of investment properties under development (PUD)			1				–
	GLA			31,653,999				22,870,482
	Occupancy			98.3	%			99.0	%
	Average remaining lease term (years)			4.5				4.9
	Fair value of investment properties		$	2,359,318			$	1,573,077
Debt Metrics :
	Weighted average effective interest rate (6)			3.0	%			3.8	%
	Variable interest rate debt as percentage of total debt (7)			12.4	%			24.7	%
	Debt-to-assets (1)			47.4	%			41.2	%
	Interest coverage ratio (1)		3.0x				3.1x
	Fixed charge coverage ratio (1)		2.8x				2.7x
	Debt to Adjusted EBITDA (1)		9.0x				8.2x
(1) NOI, same properties NOI, FFO, FFO per Unit (diluted), AFFO, AFFO per Unit (diluted), ACFO, Book value per Unit, ACFO payout ratio, cash re-leasing spread, straight-line rent re-leasing spread, debt-to-assets, interest coverage ratio, fixed charge coverage ratio, capitalization rate and debt to Adjusted EBITDA (“Adjusted EBITDA” is defined as earnings before fair value adjustments to investment properties, interest (inclusive of finance costs), taxes, depreciation and amortization) are key measures of operating results and financial performance used by real estate operating companies, however, they are not defined by International Financial Reporting Standards (“IFRS”), do not have standard meanings and may not be comparable with other industries or issuers. This data should be read in conjunction with the “Non-IFRS Measures” section of the REIT’s MD&A.
(2) Includes trust units of the REIT (“REIT Units”) and class B partnership units of WPT Industrial, LP (the “Partnership”) (“Class B Units”) (collectively, the “Units”).
(3) Excludes all options, deferred trust units (“DTUs”), and deferred limited partnership units (“DPUs”) outstanding under the REIT’s deferred compensation plans.
(4) Includes all options, DTUs, and DPUs outstanding under the REIT’s deferred compensation plans.
(5) Includes distributions on the Units and Subscription Receipts (defined herein).
(6) Includes mortgages payable, the Credit Facility, mark-to-market adjustments and financing costs.
(7) Includes amounts outstanding under the Credit Facility.

OPERATING PERFORMANCE

For the three and nine months ended September 30, 2020, investment properties revenue increased $16.3 million or 55.5% and $39.7 million or 47.7%, respectively, compared to the same period last year. The increase was primarily due to the contribution from 2019 and 2020 acquisitions and an increase in base rent in existing properties. Net income and comprehensive income for the nine months ended September 30, 2020 was $175.9 million compared to $71.6 million in the same period last year. Net income and comprehensive income for the three months ended September 30, 2020 was $78.4 million compared to $21.3 million in the same period last year. The increase in net income is mainly due to fair value adjustments to investment properties of $53.6 million and $55.5 million for the three and nine months ended September 30, 2020, respectively, in addition to a non-cash fair value adjustment of $103.3 million in the first quarter related to the exchange of Subscription Receipts for REIT Units.

NOI for the three and nine months ended September 30, 2020 was up 52.2% and 45.0%, respectively, compared to the same period last year. Same properties NOI increased 1.7% and 1.8% for the three and nine months ended September 30, 2020, respectively, primarily due to increases in contractual base rent partially offset by reductions in occupancy in properties held in both periods.

FFO for the three and nine months ended September 30, 2020 was up 48.7% and 42.2%, respectively, compared to the same period last year. AFFO for the three and nine months ended September 30, 2020 was up 43.5% and 43.5%, respectively, compared to the same period last year. Both FFO and AFFO were mainly impacted by increased properties revenue due to acquisitions, increases in base rent, and a reduction in general and administrative expenses compared to the prior period. FFO per Unit for the three months ended September 30, 2020 was up $0.010 per Unit or 4.1% compared to the same period last year. FFO per Unit for the nine months ended September 30, 2020 was flat compared to the same period last year. AFFO per Unit for the three months ended September 30, 2020 was flat compared to the same period last year. AFFO per Unit for the nine months ended September 30, 2020 was up $0.007 per Unit or 1.4%, compared to the same period last year. FFO per Unit and AFFO per Unit were also impacted by a 43.0% and 41.3% increase in the weighted average number of Units outstanding compared to the same three and nine month period last year.

Cash flows from operations and ACFO were up 64.1% and 60.2%, respectively, for the quarter and 56.9% and 47.8%, respectively, year-to-date compared to the same periods last year. The REIT’s ACFO payout ratio for the three and nine months ended September 30, 2020 was 80.9% and 96.2%. The ACFO payout ratio for the nine months was directly affected by the timing of equity financings in October 2019 and February 2020 relative to the timing of deployment of such proceeds and early repayment of secured indebtedness. Cash flows from operations and ACFO were higher compared to the same period last year, primarily due to increased NOI from 2019 and 2020 acquisition activity and a decrease in free rent.

LEASING
ACTIVITY

The REIT had 260,500 square feet of new leases and 1,427,500 square feet of lease renewals commence in the third quarter. Lease renewals commencing in the quarter had a weighted average cash re-leasing spread and straight-line rent re-leasing spread of 12.2% and 20.1%, respectively. Lease renewals signed in the third quarter had a weighted average cash re-leasing spread and straight-line rent re-leasing spread of 15.9% and 21.3%, respectively.

As at September 30, 2020, the REIT’s occupancy increased to 98.3%.

FINANCIAL & LIQUIDITY POSITION

As at September 30, 2020, the REIT’s debt-to-asset ratio was 47.4% with interest and fixed charge coverage ratios of 3.0 and 2.8 times, respectively, and a debt-to-Adjusted EBITDA ratio of 9.0 times. The weighted average effective interest rate on outstanding debt was 3.0% at September 30, 2020 with a weighted average term to maturity on the REIT’s mortgages payable and total debt of 3.6 years and 3.6 years, respectively. Weighted average remaining lease term was 4.5 years.

As at September 30, 2020, the REIT had approximately $156.5 million available to be drawn on the Credit Facility and cash on hand of $19.5 million, for total liquidity of approximately $176.0 million. The REIT has no mortgages maturing in 2020 and only one mortgage loan, with a balance of $6.3 million, maturing in 2021.

The REIT will continue to focus on capital recycling initiatives in the remainder of 2020 and early 2021 in an effort to further strengthen the REIT’s balance sheet and create additional flexibility to allocate capital to the REIT’s growing development pipeline.

PRIVATE CAPITAL
AND DEVELOPMENT ACTIVITY

The REIT generated $0.9 and $1.3 million of management fee revenue during the three and nine months ended September 30, 2020, consisting of recurring management fees.

The REIT has eleven projects representing a total of approximately 4.6 million square feet of modern distribution and logistics real estate in its private capital development pipeline, including new projects in the Phoenix, New York and Los Angeles markets. The REIT expects these eleven projects to include approximately $228 million of total contributed equity, with $195 million funded by third-party partners.

RECENT
EVENTS

On July 31, 2020, the REIT acquired a land parcel located in Mansfield, New Jersey through a development joint venture for a purchase price of $39.0 million (exclusive of closing and transaction costs). The REIT is developing approximately 772,000 square feet of modern distribution and logistics space on the site and funding 10% of the required equity for the project, with the remaining 90% of required project equity funded by third-party partners.

On August 28, 2020, the REIT sold the investment property located at 1370 Discovery Industrial Court, Mableton, Georgia to a third-party purchaser for net cash proceeds of approximately $10.0 million. The proceeds from the sale were used to repay indebtedness.

On August 28, 2020, the REIT contributed a land parcel in Eagan, Minnesota into a private capital joint venture for a combination of cash and equity interests in the joint venture. The REIT is developing a distribution building on the property on behalf of the joint venture totaling approximately 206,000 square feet of GLA.

On September 3, 2020, the REIT contributed a land parcel in Houston, Texas into a private capital joint venture for a combination of cash and equity interests in the joint venture. The REIT is developing one or more industrial buildings on the property on behalf of the joint venture totaling approximately 500,000 square feet.

RENT COLLECTION
UPDATE

As of November 11, 2020, the REIT has received over 99% of contractual rents for August, September, October and November 2020.

INVESTOR CONFERENCE CALL

A conference call will be hosted by the REIT’s management team on Thursday, November 12, 2020 at 10:00 am Eastern Time. The telephone numbers to participate in the conference call are Canada Toll Free: (855) 669-9657, U.S. Toll Free (888) 249-8268 and International: (412) 902-4153. The live audio conference call will also be available as a webcast. To access the live audio webcast please access the link on the “Investors” page on our web site at www.wptreit.com. The telephone numbers to listen to the call after it is completed (Instant Replay) are Canada Toll Free (855) 669-9658, U.S. Toll Free (877) 344-7529 and International (412) 317-0088. The Passcode for the Instant Replay is 10148510#. A recording of the call will also be archived on the REIT’s web site at www.wptreit.com.

About WPT Industrial Real Estate Investment Trust


WPT Industrial Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT acquires, develops, manages and owns distribution and logistics properties located in the United States. WPT Industrial, LP (the REIT’s operating subsidiary) indirectly owns or manages a portfolio of properties across 20 U.S. states consisting of approximately 35.6 million square feet of GLA and 108 properties. The REIT pays monthly cash distributions, currently at $0.0633 per Unit, or approximately $0.76 per Unit on an annualized basis, in US funds.

For more information, please contact:

Scott Frederiksen, Chief Executive Officer 
WPT Industrial Real Estate Investment Trust
Tel: (612) 800-8501

Forward-Looking Statements


This press release contains “forward-looking information” as defined under applicable Canadian securities law (“forward-looking statements”) which reflect management’s expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the REIT, including statements concerning (i) expected growth opportunities and the availability of acquisition opportunities from its private capital pipeline, (ii) expectations regarding debt refinancing, capital recycling and associated impacts on the REIT’s liquidity position and (iii) the impact on the REIT of the occurrence of and response to the coronavirus disease 2019 (COVID-2019) pandemic. The words “plans”, “expects”, “scheduled”, “estimates”, “intends”, “anticipates”, “projects”, “believes” or variations of such words and phrases (including negative variations) or statements to the effect that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “occur”, “be achieved” or “continue” and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management of the REIT as of the date of this press release, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Such estimates, beliefs and assumptions include, but are not limited to, the REIT’s ability to complete due diligence and entitlements on private capital development pipeline opportunities, the REIT’s ability to complete development and investment transactions, the REIT’s ability to undertake capital recycling through asset sales, results of operations, future prospects and opportunities, the demographic and industry trends remaining unchanged, no change in legislative or regulatory matters, future levels of indebtedness, the tax laws as currently in effect remaining unchanged, the continual availability of capital, the current economic conditions remaining unchanged, continued positive net absorption and declining vacancy rates in the markets in which the REIT’s properties are located, and anticipated and potential adverse impacts resulting from the COVID-19 pandemic.

When relying on forward-looking statements to make decisions, the REIT cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved, if achieved at all. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed or referenced under “Risk Factors” in the REIT’s most recently filed annual information form and management’s discussion and analysis, each of which are available under the REIT’s profile on SEDAR at www.sedar.com. These forward-looking statements have been approved by management to be made as of the date of this press release and, except as expressly required by applicable law, the REIT assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

The COVID-19 pandemic has cast additional uncertainty on the REIT’s prior expectations, future outlook, anticipated events and projections. There can be no assurance that they will continue to be valid. Given the rapid pace of change with respect to the impact of the COVID-19 pandemic, it is premature to make further assumptions about these matters. The duration, extent and severity of the impact the COVID-19 pandemic, including measures to prevent its spread, will have on the REIT’s business is highly uncertain and impossible to accurately predict at this time.

Wshington, D.C., Nov. 11, 2020 (GLOBE NEWSWIRE) —

Recall Release
CLASS II RECALL HEALTH RISK: LOW		Congressional and Public Affairs Spencer Pretecrum (202) 720-9113 [email protected] FSIS-RC-026-2020
STUFFED FOODS LLC RECALLS FROZEN SNACK PRODUCTS DUE TO MISBRANDING AND AN UNDECLARED ALLERGEN
WASHINGTON, Nov. 11, 2020 – Stuffed Foods LLC, a Wilmington, Mass., establishment is recalling approximately 1,818 pounds of snack products due to misbranding and an undeclared allergen, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today. The product contains soy, a known allergen, which is not declared on the product label.    The frozen snack product, “Mac & Cheese Bites,” may actually contain frozen “Buffalo Style Chicken Poppers” that were produced on Sept. 28, 2020. The following product is subject to recall: [View Labels (PDF Only)]        9.75-oz. carton containing a plastic bag with 12 pieces of “Mac & Cheese Bites” and lot code 20272 or package code BEST IF USED BY: MAR 22 2022 on the end panel of the carton.   These items were shipped to retail locations nationwide.                                   The problem was discovered after the firm received a customer complaint that a “Mac & Cheese Bite” carton contained “Buffalo Style Chicken Poppers.”   There have been no confirmed reports of adverse reactions due to consumption of these products. Anyone concerned about an injury or illness should contact a healthcare provider.     FSIS is concerned that some product may be in consumers’ freezers. Consumers who have purchased this product are urged not to consume them. These products should be thrown away or returned to the place of purchase.   FSIS routinely conducts recall effectiveness checks to verify that recalling firms are notifying their customers of the recall and that actions are being taken to make certain that the product is no longer available to consumers. When available, the retail distribution list will be posted on the FSIS website at www.fsis.usda.gov/recalls.   Consumers and members of the media with questions about the recall can contact David Robinson, President, Stuffed Foods LLC, at (978) 203-0370.   Consumers with food safety questions can call the toll-free USDA Meat and Poultry Hotline at 1-888-MPHotline (1-888-674-6854) or live chat via Ask USDA from 10 a.m. to 6 p.m. (Eastern Time) Monday through Friday. Consumers can also browse food safety messages at Ask USDA or send a question via email to [email protected]. For consumers that need to report a problem with a meat, poultry, or egg product, the online Electronic Consumer Complaint Monitoring System can be accessed 24 hours a day at https://foodcomplaint.fsis.usda.gov/eCCF/.
###
NOTE: Access news releases and other information at FSIS’ website at http://www.fsis.usda.gov/recalls. Follow FSIS on Twitter at twitter.com/usdafoodsafety or in Spanish at: twitter.com/usdafoodsafe_es.
	USDA RECALL CLASSIFICATIONS
	Class I This is a health hazard situation where there is a reasonable probability that the use of the product will cause serious, adverse health consequences or death.
	Class II This is a health hazard situation where there is a remote probability of adverse health consequences from the use of the product.
	Class III This is a situation where the use of the product will not cause adverse health consequences.
USDA is an equal opportunity provider, employer and lender. To file a complaint of discrimination, write: USDA, Director, Office of Civil Rights, 1400 Independence Avenue, SW, Washington, DC 20250-9410 or call (800) 795-3272 (voice), or (202) 720-6382 (TDD).

Attachment

• FSIS Recall 026-2020 Undeclared Allergens_FINAL

USDA FSIS
USDA Food Safety and Inspection Service
(202) 720-9113
[email protected]

TORONTO, Nov. 11, 2020 (GLOBE NEWSWIRE) — Caldas Gold Corp. (TSX-V: CGC: OTCQX: ALLXF) announced today the release of its unaudited interim condensed consolidated financial statements and accompanying management’s discussion and analysis (MD&A) for the three and nine months ended September 30, 2020. All financial figures contained herein are expressed in U.S. dollars (“USD”) unless otherwise noted.

Serafino Iacono, Chairman and CEO of Caldas Gold, commenting on the Company’s latest results, said, “We are pleased with the significant progress we have made since we announced the Preliminary Feasibility Study (the “2020 PFS”) results for our Marmato Project in early July. Our third quarter production rebounded after a challenging second quarter affected by the COVID-19 situation and we are on track to meet our revised production guidance for this year. Over the last few months, we have completed three financings, raising total gross proceeds of $230.5 million, including the announcement last week that we have executed the Wheaton stream agreement. We are now positioned to move forward with the planned expansion of mining operations in the Marmato Deep Zone (“MDZ”). Drilling results announced earlier this week continue to build our sense of excitement as the New Zone continues to deliver robust gold grades over significant lengths that start to demonstrate continuity and a developing high-grade zone similar to the adjacent Main Zone. In addition, the 300 meters strike extension for the Main Zone provides us with another zone ready for infill drilling to continue to grow the underground mining expansion at Marmato. The discovery of the Fortaleza Zone opens up a prospective new area to the north. All in all, our Marmato Project continues to demonstrate its prowess as a rare world-class system, both in terms of its size and grades.”

Thir


d


Quarter


and First


Nine Months


2020


Highlights

• Caldas Gold is continuing to progress in its plan to build Colombia’s next major gold mine. In July 2020, the Company announced the results of the 2020 PFS for its Marmato Project. On July 29, 2020, the Company completed a CA$50 million bought deal of Special Warrants which were exercised on September 28, 2020. On August 26, 2020 the Company completed a private placement offering of subscription receipts for gross proceeds of $83.1 million. The Company announced on November 5, 2020 that it had entered into a $110 million stream financing agreement with Wheaton Precious Metals International Ltd.
• The Company continued to support the local communities surrounding the Marmato Project during the third quarter of 2020, providing groceries to families who have been economically affected by the COVID-19 crisis and masks to the community.
• 
  Production
  in the third quarter of 2020 totaled 6,899 ounces of gold, up 11% from the third quarter last year and up 79% from the second quarter of 2020 which was affected by challenges associated with COVID-19 national quarantine in Colombia. For the first nine months of 2020, the Company produced a total of 16,651 ounces of gold and 23,404 ounces of silver compared with 18,693 ounces of gold and 29,136 ounces of silver in the first nine months last year. In October, the Company produced 2,487 ounces of gold. The Company is on track to meet its revised annual production guidance for 2020 of between 23,000 to 26,000 ounces of gold.

• 
  Revenue
  of $13.3 million in the third quarter of 2020, about 33% higher than the third quarter last year, benefitted from a 28% increase in its realized gold price as well as a 4% increase in gold sales. The Company’s realized gold price in the third quarter of 2020 was $1,881 per ounce. For the first nine months of 2020, revenue amounted to $30.2 million compared with $25.8 million in the first nine months of 2019.

• 
  Total cash costs
  
  
  
  ⁽¹⁾
  
  per ounce were $1,359 per ounce in the third quarter of 2020, up from $1,163 per ounce in the third quarter last year. Higher spot gold prices increased production taxes by approximately $52 per ounce in the third quarter of 2020 compared with the same period last year. Other factors increasing total cash costs in the third quarter of 2020 included an increased level of operating development costs in the Upper Zone mine associated with the preparation of Levels 21 and 22 (the Transition Zone) for expansion of mining activities and additional costs being incurred to maintain the COVID-19 protocols required to protect the health and safety of workers. For the first nine months of 2020, total cash costs averaged $1,309 per ounce compared with $1,131 per ounce in the first nine months last year.

• 
  All-in sustaining costs
  
  
  (“AISC”)
  
  
  
  ⁽¹⁾
  
  of $1,827 per ounce in the third quarter of 2020, up from $1,254 per ounce in the third quarter last year, reflected the increase in total cash costs, general and administrative (“G&A”) expenses associated with the new public company status post the RTO Transaction, social contributions for COVID-19 community support and an increased level of sustaining capital expenditures to implement the 2020 PFS optimization in the Marmato mine. For the first nine months of 2020, AISC averaged $1,675 per ounce compared with $1,210 per ounce in the first nine months last year.

• The Company reported a net loss for the third quarter and first nine months of 2020 of $24.9 million ($0.32 per share) and $49.4 million ($0.90 per share), respectively, compared with net income of $1.0 million ($0.03 per share) and $2.1 million ($0.07 per share), respectively, in the same periods last year. The largest items affecting the net loss in the third quarter of 2020 were the $17.0 million fair value loss on the Company’s financial instruments and $9.0 million of financing costs incurred in connection with the Special Warrant and Subscription Receipt financings. For the first nine months of 2020, in addition to these factors, the largest item contributing to the net loss was the $16.7 million charge related to the RTO Transaction.
• On July 2, 2020, the Company completed the acquisition of South American Resources Corp. (“SARC”), the holder of a 100% interest in the Juby Project and a 25% interest in certain claims adjoining the Juby Project, for total consideration of approximately $50.3 million. The Juby Project is an advanced exploration-stage gold project located in Northeastern Ontario within the Shining Tree area in the southern part of the Abitibi greenstone belt. The mineralization of the deposits in the Juby Project is amenable for open pit extraction. On October 5, 2020, the Company announced it had completed a within-pit Mineral Resource estimate for the Juby Project effective as of July 14, 2020 comprising Indicated Resources of 21.3 million tonnes at a grade of 1.13 g/t totalling 773,000 ounces of gold and Inferred Resources of 47.1 million tonnes at a grade of 0.98 g/t totalling 1,488,000 ounces of gold. The Company intends to carry out exploration activities at the Juby Project in 2021.
• As of November 11, 2020, the Company has a total of 99,800,162 shares issued and outstanding.

Selected Financial Information

	Third Quarter						Nine Months
		2020			2019			2020			2019
Operating data
Gold produced (ounces)		6,899			6,221			16,651			18,693
Gold sold (ounces)		6,963			6,681			17,241			18,654
Average realized gold price ($/oz sold)	$	1,881		$	1,467		$	1,728		$	1,357
Total cash costs ($/oz sold) (1)		1,359			1,163			1,309			1,131
AISC ($/oz sold) (1)		1,827			1,254			1,675			1,210
Revenue	$	13,306		$	9,970		$	30,240		$	25,752
Adjusted EBITDA (1)		2,360			1,866			4,470			4,057
Net (loss) income		(24,872	)		988			(49,370	)		2,054
Per share – basic and diluted		(0.32	)		0.03			(0.90	)		0.07
Adjusted net income (loss) (1)		437			971			(2,148	)		2,096
Per share – basic and diluted		0.01			0.03			(0.04	)		0.07
Net cash provided by operating activities		4,026			1,881			4,717			3,228
Additions to mining interest, plant and equipment		5,334			1,806			12,020			4,402
							September 30,			December 31,
								2020			2019
Balance sheet ($000’s):
Cash and cash equivalents							$	42,990		$	2,672
Total assets								215,857			45,881

      ^{(1)   Refer to “Non-IFRS Measures” in the Company’s MD&A.}

Thir


d


Quarter 2020 Results Webcast

As a reminder, Caldas Gold will host a conference call and webcast on Thursday, November 12, 2020 at 9:00 a.m. Eastern Time to discuss the results.

Webcast and call-in details are as follows:

Live Event link: Canada Toll / International: North America Toll Free: Colombia Toll Free: Conference ID:

https://edge.media-server.com/mmc/p/obdac7vh   1 (847) 585-4405 1 (888) 771-4371 01 800 9 156 924 49986277

A replay of the webcast will be available at www.caldasgold.ca from Thursday, November 12, 2020 until Thursday, December 17, 2020.

About Caldas Gold Corp.

Caldas Gold is a Canadian junior mining company currently advancing a major expansion and modernization of its underground mining operations at its Marmato Project in the Department of Caldas, Colombia. Caldas Gold also owns 100% of the Juby Project, an advanced exploration-stage gold project located within the Shining Tree area in the southern part of the Abitibi greenstone belt about 100 km south-southeast of the Timmins gold camp.

Additional information on Caldas Gold can be found on its website at www.caldasgold.ca and by reviewing its profile on SEDAR at www.sedar.com.

Cautionary Statement on Forward-Looking Information:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation concerning the business, operations and financial performance of Caldas Gold. Forward-looking statements in this press release, which are all statements other than statements of historical fact, include, but are not limited
to
anticipated business plans or strategies
, including production guidance, exploration results, resources and reserves.
Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Caldas Gold to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include the other risk factors as described under the caption “Risk Factors” in the Company’s annual information form for the financial year ended December 31, 2019
dated as of August 17, 2020 which is available for view on SEDAR at

www.sedar.com

.
Forward-looking statements contained herein are made as of the date of this press release and Caldas Gold disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. 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, the reader is cautioned not to place undue reliance on forward-looking
statements.

For Further Information, Contact:

Mike Davies
Chief Financial Officer
(416) 360-4653
[email protected]

75



^th



anniversary of the end of the Second World War marks


ceremony at


National War Memorial

OTTAWA, Nov. 11, 2020 (GLOBE NEWSWIRE) — Respect, thankfulness and Remembrance permeated the air during Canada’s National Remembrance Day Ceremony in Ottawa. The solemn commemoration paid tribute to the men and women who have given their lives for our freedoms.

On an unusually warm Remembrance Day and amidst pandemic restrictions that allowed a maximum of 100 participants, guests paid tribute through words, prayer, music, and a 21-gun salute. The annual ceremony organized by The Royal Canadian Legion also marked the 75th anniversary of the end of the Second World War. Planned fly-pasts of CF-18 jets and vintage Second World War aircraft could not take place due to low cloud cover.

At 11:00 am, as the nation paused to remember and honour those who have given their lives to military service, many Canadians watched from home or online or took part in much smaller ceremonies in other parts of the country.

“The pandemic may have changed how we commemorate this year, but we will never forget our Fallen, no matter the circumstances,” says Legion Dominion President Thomas D. Irvine. “Our freedoms came at a great cost, and this year we also remember the tragedy and triumph of the Second World War as Canadians joined our allies to bring an end to that devastating time. We will remember them all.”

Mrs. Deborah Sullivan, this year’s National Silver Cross Mother, laid a wreath on behalf of all military mothers who have lost children in service to their country. Her own son, Lieutenant Navy Christopher Edward Saunders, died after a tragic fire on board HMCS Chicoutimi in 2004.

Members of the Vice-Regal Party paid special tribute by each laying wreaths at the National War Memorial. They included Canada’s Governor-General Her Excellency the Right Honourable Julie Payette; Canada’s Prime Minister, the Right Honourable Justin Trudeau; the Minister of Veterans Affairs Canada, the Honourable Lawrence MacAulay; Chief of the Defence Staff General Jonathan Vance; and the Speaker of the House, the Honourable Anthony Rota. On behalf of the Dean of the Diplomatic Corps, the Ambassador of Honduras, Her Excellency Sofia Serrato also laid a wreath, as did representatives of Veteran organizations.

While Canadians heeded the instructions not to attend the national ceremony due to the pandemic restrictions, smaller groups and individuals did stop by, later placing poppies on the tomb of the Unknown Soldier – which has become a poignant tradition.

More than 117,000 animated poppies – each representing one of Canada’s Fallen – will continue to cascade on the Peace Tower on Parliament Hill, and the Poppy Drop will appear on the Senate building and the National Arts Centre’s glass tower for a final evening, from 6:30 to midnight ET, tonight.

Ab
out The Royal Canadian Legion

Founded in 1925, the Legion is Canada’s largest Veteran support and community service organization. We are a non-profit organization with a national reach across Canada as well as branches in the U.S., Europe and Mexico. With close to 260,000 members, many of whom volunteer an extraordinary amount of time to their branches, our strength is in our numbers.

Public Relations / Media Inquiries: [email protected]; 343-540-7604/ Nujma Bond
Legion.ca
Facebook.com/CanadianLegion
Twitter.com/RoyalCdnLegion
Instagram.com/RoyalCanadianLegion
YouTube.com/user/RCLDominionCommand

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/781d9401-10f9-4d88-8186-cbcc4532c73c

https://www.globenewswire.com/NewsRoom/AttachmentNg/e1e07b29-0b8d-461d-933e-75d8039e924d

NEW YORK, Nov. 11, 2020 (GLOBE NEWSWIRE) — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Credit Acceptance Corporation (NASDAQ: CACC) between November 1, 2019 and August 28, 2020, inclusive (the “Class Period”), of the important December 1, 2020 lead plaintiff deadline in securities class action. The lawsuit seeks to recover damages for Credit Acceptance investors under the federal securities laws.

To join the Credit Acceptance class action, go to http://www.rosenlegal.com/cases-register-1851.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company was topping off the pools of loans that they packaged and securitized with higher-risk loans; (2) Credit Acceptance was making high-interest subprime auto loans to borrowers that the Company knew borrowers would be unable to repay; (3) the borrowers were subject to hidden finance charges, resulting in loans exceeding the usury rate ceiling mandated by state law; (4) Credit Acceptance took excessive and illegal measures to collect debt from defaulted borrowers; (5) as a result, the Company was likely to face regulatory scrutiny and possible penalties from various regulators or lawsuits; and (6) as a result of the foregoing, Defendant’s positive statements about the Company’s business, operations, and adherence to appropriate laws and regulations were materially misleading and/or lacked a reasonable basis.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 1, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1851.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————-

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        [email protected]
        [email protected]
        www.rosenlegal.com