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DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Turquoise Hill Resources Ltd. and Encourages Investors to Contact the Firm

NEW YORK–(BUSINESS WIRE)–
Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors that purchased Turquoise Hill Resources Ltd. (NYSE: TRQ) securities between July 17, 2018 and July 31, 2019 (the “Class Period”). Investors have until December 14, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

Turquoise Hill is an international mining company focused on the operation and development of the Oyu Tolgoi copper-gold mine in Southern Mongolia (“Oyu Tolgoi”), which is the Company’s principal and only material resource property. Turquoise Hill’s subsidiary, Oyu Tolgoi LLC, holds a 66% interest in Oyu Tolgoi, and the remainder is held by the Government of Mongolia.

Rio Tinto plc and Rio Tinto Limited are operated and managed together as single economic unit and engage in mining and metals operations in approximately 35 countries. Through their subsidiaries, Rio Tinto owns 50.8% of Turquoise Hill. A Rio Tinto subsidiary, Rio Tinto International Holdings, Inc. (“Rio Tinto International” or “RTIH”; and collectively with Rio Tinto plc and Rio Tinto Limited, “Rio Tinto”), is also the manager of the Oyu Tolgoi project, including having responsibility for its development and construction.

On July 31, 2019, Turquoise Hill issued a press release and Management Discussion & Analysis (“MD&A”) making further disclosures about the status of the project, including that Turquoise Hill took a $600 million impairment charge and a substantial “deferred income tax recognition adjustment” tied to the Oyu Tolgoi project, and that it suffered a loss in the second quarter. The next day, before the market open, Rio Tinto issued a release concerning in part the project status, including that it had also taken an impairment charge related to the Oyu Tolgoi project, of $800 million.

Following this news, on August 1, 2019, Turquoise Hill’s common stock price closed at $0.53 per share, down 8.62% from the prior day’s closing price of $0.58 per share.

The complaint, filed on October 15, 2020, alleges that throughout the Class Period defendants made materially false and misleading statements and omitted to disclose material facts regarding the Company’s business and operations. Specifically, defendants made false and or misleading statements and/or failed to disclose that: (i) the progress of underground development of Oyu Tolgoi was not proceeding as planned; (ii) there were significant undisclosed underground stability issues that called into question the design of the mine, the projected cost and timing of production; (iii) the Company’s publicly disclosed estimates of the cost, date of completion and dates for production from the underground mine were not achievable; (iv) the development capital required for the underground development of Oyu Tolgoi would cost substantially more than a billion dollars over what the Company had represented; and (v) Turquoise Hill would require additional financing and/or equity to complete the project.

If you purchased Turquoise Hill securities during the Class Period and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at [email protected], telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201208006097/en/

Bragar Eagel & Squire, P.C.

Brandon Walker, Esq.

Melissa Fortunato, Esq.

Marion Passmore, Esq.

(212) 355-4648

[email protected]

www.bespc.com

KEYWORDS: New York United States Mongolia North America Asia Pacific

INDUSTRY KEYWORDS: Legal Professional Services

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DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors That a Class Action Lawsuit Has Been Filed Against Evolus, Inc. and Encourages Investors to Contact the Firm

NEW YORK–(BUSINESS WIRE)–
Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors that purchased Evolus, Inc. (NASDAQ: EOLS) common stock between February 1, 2019 and July 6, 2020 (the “Class Period”). Investors have until December 15, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

Beginning in February 2019, Evolus embarked on a public campaign to hype the market right before the commercial launch of its sole leading product Jeuveau™. To secure an aggressive growth and an rapid influx of revenue, Evolus disseminated dozens of public statements in which they promoted Jeuveau™ as a proprietary formulation of the botulinum toxic type A complex, purportedly developed by Korean bioengineering company Daewoong through years of clinical research and millions of dollars’ worth of investment in research and development. Among other things, Evolus promised investors that it would attain the number two U.S. market position within 24 months of launch.

The investing public learned the real truth about Jeuveau™ on July 6, 2020 when the U.S. International Trade Commission (“ITC”) issued its Initial Final Determination in a case brought by Allergan and Medytox against Evolus, alleging that Evolus stole certain trade secrets to develop Jeuveau™. Coming as a great surprise to the unsuspecting investors, the ITC Judge found that Evolus misappropriated the botulinum toxin strain as well as the manufacturing processes that led to its development and manufacture. To make things even more catastrophic, the ITC Judge recommended a ten-year long ban on Evolus’ ability to import Jeuveau™ into the United States and a ten-year long cease and desist order preventing Evolus from selling Jeuveau™ in the United States.

On this news Evolus’s share price declined sharply, falling 37% over the course of two trading days, to close at $3.35 on July 8, 2020. Following the news of the ITC’s Initial Final Determination and the subsequent price drop of Evolus’s common shares, several securities analysts downgraded Evolus’s rating and significantly lowered the Company’s price target.

The complaint, filed on October 16, 2020, alleges that throughout the Class period defendants made materially false and misleading statements, and failed to disclose material adverse facts about the Company’s business, operational, and compliance policies. Specifically, defendants made false and/or misleading statements and failed to disclose to investors that: (i) 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; (ii) 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™; (iii) as a result, Evolus faced a real threat of regulatory and/or court action, prohibiting the import, marketing, and sale of Jeuveau™; which in turn (iv) seriously threatened Evolus’ ability to commercialize Jeuveau™ in the United States and generate revenue; and (v) 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.

If you purchased Evolus common stock during the Class Period and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at [email protected], telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201208006093/en/

Bragar Eagel & Squire, P.C.

Brandon Walker, Esq.

Melissa Fortunato, Esq.

Marion Passmore, Esq.

(212) 355-4648

[email protected]

www.bespc.com

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Legal Professional Services

MEDIA:

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World-first double hyperscale data centre launch caters for cloud customers in Asia

Media contact

Katya Ginsberg
[email protected]
+61 405 073 304

Ted Mitchell
[email protected]
+61 400 104 738

Uber Announces Pricing of $1.0 Billion Convertible Senior Notes Offering

SAN FRANCISCO–(BUSINESS WIRE)–
Uber Technologies, Inc. (NYSE: UBER) today announced the pricing of $1.0 billion principal amount of 0% Convertible Senior Notes due 2025 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Uber also granted the initial purchasers of the notes an option to purchase up to an additional $150 million principal amount of the notes. The sale of the notes is expected to close on December 11, 2020, subject to customary closing conditions.

The notes will be senior unsecured obligations of Uber, will not bear regular interest, and the principal amount of the notes will not accrete. The notes will mature on December 15, 2025, unless earlier converted, redeemed or repurchased. The conversion rate of the notes will initially be 12.3701 shares of Uber’s common stock per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $80.84 per share of Uber’s common stock). The initial conversion price of the notes represents a premium of approximately 52.5% over the last reported sale price of Uber’s common stock on the New York Stock Exchange on December 8, 2020. The notes will be convertible into cash, shares of Uber’s common stock or a combination of cash and shares of Uber’s common stock, at Uber’s election.

Uber may redeem for cash all or any portion of the notes, at its option, on or after December 20, 2023 if the last reported sale price of Uber’s common stock has been at least 130% of the conversion price of the notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending, and including, the trading day immediately preceding on the date on which Uber provides notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date.

If Uber undergoes a “fundamental change,” then, subject to certain conditions and limited exceptions, holders of the notes may require Uber to repurchase for cash all or any portion of their notes at a repurchase price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid special interest, if any, to, but excluding, the fundamental change repurchase date. In addition, following certain corporate events that occur prior to the maturity date of the notes or if Uber delivers a notice of redemption in respect of the notes, Uber will, in certain circumstances, increase the conversion rate of the notes for a holder who elects to convert its notes in connection with such a corporate event or convert its notes called (or deemed called) for redemption during the related redemption period, as the case may be.

Uber estimates that the net proceeds from the offering will be approximately $987.5 million (or $1.136 billion if the initial purchasers exercise their option to purchase additional notes in full), after deducting the initial purchasers’ discount and estimated offering expenses payable by Uber. Uber intends to use the net proceeds from the offering for working capital and other general corporate purposes, which may include acquisitions or strategic transactions, although Uber has not designated any specific uses at this time.

Neither the notes, nor any shares of Uber’s common stock issuable upon conversion of the notes, have been registered under the Securities Act or any state securities laws, and unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation or sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release contains “forward-looking” statements that are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include statements concerning the expected closing of the offering and the anticipated use of the net proceeds from the offering. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “believe,” “could,” “expect”, “intend,” “may,” “potential,” “will,” “would” or similar expressions and the negatives of those terms.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events to differ from Uber’s plans. These risks include, but are not limited to, market risks, trends and conditions, and those risks included in the section titled “Risk Factors” in Uber’s Securities and Exchange Commission (“SEC”) filings and reports, including its Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 and other filings that Uber makes from time to time with the SEC, which are available on the SEC’s website at www.sec.gov. In addition, forward-looking statements contained in this press release are based on assumptions that Uber believes to be reasonable as of this date. Except as required by law, Uber assumes no obligation to update these forward-looking statements as a result of new information, future events, changes in expectations or otherwise.

About Uber

Uber’s mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 15 billion trips later, we’re building products to get people closer to where they want to be. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201208006184/en/

Investor Contact:

[email protected]

Media Contact:

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Public Transport Other Transport Mobile/Wireless Technology Transport Other Technology Software Other Travel Transportation Travel

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Gatos Silver Reports Third Quarter 2020 Results

DENVER–(BUSINESS WIRE)–
Gatos Silver, Inc. (NYSE/TSX: GATO) (“Gatos Silver” or the “Company”) today reported third quarter 2020 operational and financial results.

Key Highlights

The Company reported the following key highlights through September 30, 2020:

• Rapid recommissioning of the Cerro Los Gatos (“CLG”) mine following Mexico’s mandated COVID-19 project suspension,
• Strong operational and financial results from CLG following a 45-day temporary suspension. The CLG mine was recommissioned in late May 2020 with an optimized plan averaging a monthly production rate of 1,750 tpd to September 30, 2020,
• Record production from the CLG mine – 453,392 ore tonnes were mined in the first nine months of 2020,
• Record silver, zinc and lead metal recoveries at the CLG processing plant during the third quarter 2020 – silver recovery approximated the Los Gatos Technical Report estimated recoveries at 85.1%, while zinc and lead recovery exceeded forecast at 73.9% and 87.3%, respectively,
• Record quarterly cash flow generation at the Los Gatos Joint Venture (“LGJV”) in the third quarter 2020, and
• Applied for public listing on the NYSE and TSX and successfully completed an initial public offering (“IPO”) of 24,644,500 shares, raising gross proceeds of US$172.5 million in the fourth quarter 2020.

Operational and Financial Results

Gatos Silver

Net loss decreased to $1.2 million primarily due to the equity income in the LGJV.

Stephen Orr, the Company’s Chief Executive Officer, said “Gatos Silver is a rare silver-focused exploration, development and mining company that discovered a silver-dominant polymetallic district containing 14 zones of mineralization in Chihuahua State, Mexico. Over the last decade, the Company, in conjunction with its joint venture partner Dowa Metals and Mining, has developed and commissioned its first mine on the Cerro Los Gatos zone. We are proud the LGJV was able to build Cerro Los Gatos under budget and on time, providing a strong foundation for the successful completion of Gatos Silver’s IPO, the largest of its kind in the precious metals sector over the last decade. Our shareholders are now ideally positioned to benefit from continued value creation through advancement of the Company’s assets, particularly in this environment of rapidly escalating silver prices.”

Los Gatos Joint Venture

The LGJV has successfully prevented employee COVID-19 infection at the CLG project. Employees work in an environment where sanitation standards and prevention protocols such as social distancing and face mask usage are maintained. CLG, as a residential site, provides residence cleaning and employee laundering services to maintain proper hygiene. The site also has a medical clinic staffed with full-time medical professionals. This controlled environment has turned out to be a most effective defense for COVID-19 prevention. The LGJV has also proactively introduced COVID-19 prevention programs in the surrounding communities through seminars and donation of personal protection items such as face masks, hand sanitizer and nitrile gloves. All employees are nasal tested for COVID-19 prior to returning from their rotational break.

The LGJV is close to completing its CLG project commissioning phase and generated its first quarterly net income in the third quarter 2020.

Revenue and operating expenses increased for the quarter ended September 30, 2020 compared to the same quarter of 2019 due to increased concentrate sales and higher production rates. Revenue in the third quarter 2020 was $44.0 million. Lead and zinc concentrate production for the quarter ended September 30, 2020 was 6,097 tonnes and 7,980 tonnes, respectively.

Operating expenses in the third quarter 2020 were $32.4 million consisting largely of: cost of sales of $17.2 million due to the higher sales volume; depreciation, depletion and amortization of $11.8 million; and general and administrative expenses of $1.9 million.

Other expenses increased for the quarter ended September 30, 2020 compared to the same period of 2019 to $3.8 million due to increases in interest expense and arrangement fees which were partially offset by foreign exchange gain. Interest cost and arrangement fees were capitalized as part of the cost of construction prior to the commencement of production. Upon commencing production interest cost and arrangement fees have been charged to operations.

*Production information for the three-months ended 2019 is not considered meaningful as the LGJV commenced concentrate sales in September 2019.

Capital Resources and Liquidity Update

With the completion of a $150 million gross proceeds IPO on October 30, 2020, and subsequent exercise of the related underwriters’ option for gross proceeds of $22.5 million in early November 2020, the Company has sufficient funds and resources to carry out its business plans. At September 30, 2020, cash and cash equivalents totaled $3.6 million, while debt outstanding was $15 million comprised of related-party convertible notes. Concurrent with the IPO, the convertible notes and accrued interest were converted to common stock. Gatos Silver did not have any debt at September 30, 2019.

Financial Results Webcast and Conference Call

Gatos Silver will host a webcast and conference call to discuss its third quarter 2020 financial results on December 9, 2020 at 12:00 p.m. Eastern Time.

Conference Call Details:

To register for this conference call, please use this link http://www.directeventreg.com/registration/event/4999363. After registering, a confirmation will be sent through email, including dial-in details and unique conference call codes for entry. Registration is open through the live call. To ensure you are connected for the full call we suggest registering a day in advance or at minimum 10 minutes before the start of the call.

Webcast Details:

Title: Gatos Silver Q3 2020 Earnings Call

URL: https://event.on24.com/wcc/r/2870107/D966C606BFE8B571ED204B06CC2D008A

A replay of the webcast will also be available following the conference call on the Company’s website, www.gatossilver.com.

Forward-Looking Statements

This press release contains statements that constitute “forward looking information” and “forward-looking statements” within the meaning of U.S. and Canadian securities laws. All statements other than statements of historical facts contained in this press release, including statements regarding the expected average annual production are forward-looking statements. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors described in our filings with the U.S. Securities and Exchange Commission and Canadian securities commissions. Certain forward-looking statements are based on assumptions, qualifications and procedures which are set out only in the technical report entitled “Los Gatos Project, Chihuahua, Mexico,” dated July, 2020 with an effective date of July 1, 2020 (the “Los Gatos Technical Report”) filed with the U.S. Securities and Exchange Commission and Canadian securities commissions. Scientific and technical disclosures in this press release were approved by Philip Pyle, Vice President of Exploration and Chief Geologist of Gatos Silver who is a “Qualified Person,” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. For a complete description of assumptions, qualifications and procedures associated with such information, reference should be made to the full text of the Los Gatos Technical Report. Gatos Silver expressly disclaims any obligation or undertaking to update the forward-looking statements contained in this press release to reflect any change in its expectations or any change in events, conditions, or circumstances on which such statements are based unless required to do so by applicable law. No assurance can be given that such future results will be achieved. Forward-looking statements speak only as of the date of this press release.

About Gatos Silver

Headquartered in Denver, Colorado, Gatos Silver is a precious metals production, development and exploration company. The Company is currently focused on the production and continued development of the Cerro Los Gatos Mine and the further exploration and development of the Los Gatos District, both located in Chihuahua, Mexico within one of the world’s premier silver mining regions, the Mexico Silver Belt.

The Cerro Los Gatos Mine is Gatos Silver’s first commercially producing mine in the Los Gatos District. It commenced production in September 2019 and is ramping up to its 2,500 tonnes per day design capacity, which the Company believes will be reached in January 2021. The Cerro Los Gatos Mine is expected to produce, on average, 12.2 million payable silver equivalent (“AgEq”) ounces (100% basis) annually through the existing mine life, at a life-of-mine all-in sustaining cost (“AISC”) of $11.77 per AgEq ounce, an attractive, low-cost AISC profile.

Availability of Other Information About Gatos Silver

Investors and others should note that Gatos Silver communicates with its investors and the public using its company website (https://gatossilver.com/) as well as other channels, including but not limited to presentations, Securities and Exchange Commission filings, press releases, public conference calls and webcasts. The information Gatos Silver communicates through these channels could be deemed to be material information. As a result, Gatos Silver encourages investors and others interested in Gatos Silver to review the information it disseminates through these channels on a regular basis. The contents of Gatos Silver’s website or other channels, or any other website that may be accessed from its website or these channels, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201208006179/en/

Investors and Media Contact

Adam Dubas

Chief Administrative Officer

[email protected]

(303) 784-5350

KEYWORDS: Colorado United States North America

INDUSTRY KEYWORDS: Mining/Minerals Natural Resources

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