Lewis & Clark Bancorp Announces 2020 Third Quarter and Year to Date Results

Lewis & Clark Bancorp Announces 2020 Third Quarter and Year to Date Results

OREGON CITY, Ore.–(BUSINESS WIRE)–
Lewis & Clark Bancorp (OTC Pink: LWCL) announces 2020 third quarter and year to date consolidated results. As a result of the Lewis & Clark Bancorp holding company reorganization and merger effective as of July 31, 2020, the current period financial discussion and summary balance sheet and income statement in this release reflect Lewis & Clark Bancorp consolidated, while the comparative prior year periods are Lewis & Clark Bank only. As the results presented are substantially the performance of Lewis & Clark Bank, management believes there is not a material difference related to disclosing the current and comparative results as presented.

Quarter to date net income totaled $319,000 for the three months ended September 30, 2020, a decrease of $350,000 compared to $669,000 for the same period last year. Earnings per share were $0.28 for the current year quarter, compared to $0.59 for the prior year quarter.

The decreased earnings in the current year quarter were due to a decrease in net interest income and increases in both the provision for loan losses and noninterest expenses, partially offset by an increase in noninterest income, compared to the same period one year ago. The decrease in net interest income is due to decreased interest and fees on loans and investments, partially offset by a decrease in interest expense as a result of Management’s decision to lower the rates paid on deposits to reflect current market conditions. The increased provision for loan losses was based on Management’s assessment of risk factors related to the ongoing COVID-19 pandemic. The increase in noninterest expenses is primarily due to an increase in compensation and employee benefits, partially offset by declines in both occupancy and amortization expenses. The increase in noninterest income was primarily due to an increase in interchange fees related to an increase in debit cards and a more favorable fee structure.

Year to date net income totaled $1,062,000, or $0.94 per share, compared to $1,741,000, or $1.78 per share for the same period last year. Year to date pre-tax income, excluding the provision for loan losses, was $2,468,000 for the current year period compared to $2,369,000 for the prior year period.

The decreased earnings in the current year period were due to an increase in the provision for loan losses and noninterest expense, partially offset by increases in both net interest income and noninterest income compared to the same period one year ago. The increase in the provision for loan losses is substantially the same as that for the current quarter as previously mentioned. The increase in noninterest expense was due to an increase in salaries and employee benefits due to an increase in staffing levels and a full nine months of combined operations as a result of the merger with Clatsop Community Bank effective during the second quarter in the prior year period. In addition to this increase, data processing costs increased due to the core conversion in the first quarter of this year, as well as a full nine months of combined operations, and core deposit intangible amortization increased, primarily due to having a full nine months of amortization in the current year period. The increase in net interest income is due to an increase in interest and fees on loans, as well as a decrease in interest expense compared to the prior year period. The increase in noninterest income was due to realizing a gain on the liquidation of the investment portfolio, as well as increased interchange income as previously discussed.

Jeffrey Sumpter, President and CEO commented, “Despite the continued economic uncertainty, we are pleased to report improved net interest income over the prior full year period, and while our credit quality remains strong, we proactively increased our loan loss reserves given the continued economic uncertainty from COVD-19.” Sumpter continued “Although overall loan growth has been soft, we have maintained our disciplined credit culture to protect from future losses, while we continue to build a strong balance sheet with more reserves, improved liquidity, and increased deposits, to support future growth and expansion including our new loan production office scheduled to open in January of 2021 in the Vancouver market.”

As of September 30, 2020, total consolidated assets were $327.4 million, an increase of $45.4 million, or 16.1%, compared to December 31, 2019. This increase was primarily due to increases in gross loans, total deposits, borrowings, and long-term debt, partially offset by a decline in investment securities compared to the balances reported at December 31, 2019. Total gross loans increased $59.2 million substantially due to originating and funding $66.5 million in SBA Paycheck Protection Program (PPP) Loans partially offset by $7.3 million in principal reductions and payoffs. Total deposits increased $31.3 million primarily due to increases in noninterest-bearing and interest-bearing demand deposits related to the PPP Loans, as well as Money market and savings deposits, partially offset by a decline in time deposits. The decrease in time deposits is due to depositor’s preference to hold their balances in liquid accounts as well as adjusting deposit rates to reflect current market conditions and allowing higher rate deposits to transition out. Borrowings increased $6.2 million and are solely due to funding via the Federal Reserve’s Paycheck Protection Program Liquidity Facility. Long-term debt increased by $6.9 million related to the Company completing a $7.0 million subordinated debt offering in the current year quarter. Investment securities decreased $17.0 million due to liquidating the portfolio to reduce the Company’s risk exposure. Shareholders equity totaled $36.4 million at September 30, 2020, an increase of $716,000, or 2.0% compared to $35.7 million at December 31, 2019.

About Lewis & Clark Bancorp

Headquartered in Oregon City, Oregon, Lewis & Clark Bancorp is the holding company for Lewis & Clark Bank, a state-chartered full-service commercial bank. Partnering with people and businesses throughout Oregon and SW Washington, the Bank believes that being an integral part of the community it serves, helps promote both growth and success.

For more information about Lewis & Clark Bank, visit www.lewisandclarkbank.com.

Summary Balance Sheet

(dollars in thousands)

 

 

 

 

September 30, 2020

December 31, 2019

$$ Change

%% Change

ASSETS

Cash

$

53,051

 

$

49,084

 

$

3,967

 

 

8.1

%

Equity Securities

 

700

 

 

715

 

 

(15

)

 

-2.1

%

Investment Securities

 

 

 

16,965

 

 

(16,965

)

 

-100.0

%

Gross loans

 

259,465

 

 

200,284

 

 

59,181

 

 

29.5

%

Allowance for loan losses

 

(3,043

)

 

(2,040

)

 

(1,003

)

 

49.2

%

Net loans

 

256,422

 

 

198,244

 

 

58,178

 

 

29.3

%

Fixed Assets

 

7,271

 

 

7,415

 

 

(144

)

 

-1.9

%

Other Assets

 

9,921

 

 

9,536

 

 

385

 

 

4.0

%

Total Assets

$

327,365

 

$

281,959

 

$

45,406

 

 

16.1

%

 

LIABILITIES AND EQUITY

 

Deposits:

Noninterest-bearing

$

86,981

 

$

62,928

 

$

24,053

 

 

38.2

%

Interest-bearing demand

 

16,688

 

 

7,805

 

 

8,883

 

 

113.8

%

Money market and savings

 

129,052

 

 

121,683

 

 

7,369

 

 

6.1

%

Time deposits

 

43,879

 

 

52,841

 

 

(8,962

)

 

-17.0

%

Total deposits

 

276,600

 

 

245,257

 

 

31,343

 

 

12.8

%

Borrowings

 

6,202

 

 

 

 

6,202

 

 

100.0

%

Long-term debt

 

6,874

 

 

 

 

6,874

 

 

100.0

%

Other liabilities

 

1,264

 

 

993

 

 

271

 

 

27.3

%

Total liabilities

 

290,940

 

 

246,250

 

 

44,690

 

 

18.1

%

Equity

 

36,425

 

 

35,709

 

 

716

 

 

2.0

%

Total Liabilities and Equity

$

327,365

 

$

281,959

 

$

45,406

 

 

16.1

%

 
 

Summary Income Statement

(dollars in thousands)

 

Three months ended September 30,

Nine months ended September 30,

2020

 

2019

 

2020

 

2019

 

Interest and fees on loans and investments

$

3,126

 

$

3,433

 

$

9,506

 

$

9,080

 

Interest expense

 

299

 

 

494

 

 

1,148

 

 

1,582

 

Net interest income

 

2,827

 

 

2,939

 

 

8,358

 

 

7,498

 

Provision for loan losses

 

428

 

 

 

 

1,055

 

 

 

Net interest income after provision

 

2,399

 

 

2,939

 

 

7,303

 

 

7,498

 

Noninterest income

 

170

 

 

125

 

 

738

 

 

327

 

Noninterest expense

 

2,144

 

 

2,006

 

 

6,628

 

 

5,456

 

Pre-tax income

 

425

 

 

1,058

 

 

1,413

 

 

2,369

 

Provision for income taxes

 

106

 

 

389

 

 

351

 

 

628

 

Net income

$

319

 

$

669

 

$

1,062

 

$

1,741

 

 

Jeffrey Sumpter – President and Chief Executive Officer

Phone: (503) 212-3107

John Lende – Executive Vice President and Chief Financial Officer

Phone: (503) 212-3141

KEYWORDS: Oregon United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

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Cosmos Holdings Announces December 4th Virtual Bell Ringing to Open Trading on the OTCQX Best Market

Company Began Trading as OTCQX: COSM on November 25, 2020

CHICAGO, Dec. 04, 2020 (GLOBE NEWSWIRE) — Cosmos Holdings, Inc. (“the company”) (OTCQX: COSM), a vertically integrated international pharmaceutical company with a proprietary line of branded and generic pharmaceuticals, nutraceuticals, OTC medications and an extensive, established EU distribution network, participated in a virtual “Open the Market” on the OTCQX® Best Market today at 9:30 a.m. EST. The virtual bell ringing can be viewed on the OTCQX Best Market social media channels:


https://twitter.com/OTCMarkets/status/1334867689333026816?s=20


https://www.linkedin.com/feed/update/urn:li:activity:6740633309879029761

Cosmos Holdings, Inc. began trading on the OTCQX on November 25, 2020. The company was upgraded to OTCQX from the OTCQB® Venture Market. U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

About Cosmos Holdings, Inc.

Cosmos Holdings Inc. is an international pharmaceutical company with a proprietary line of branded and generic pharmaceuticals, nutraceuticals, OTC medications and medical devices and an extensive, established EU distribution network. The company identifies, acquires, develops and commercializes products that improve patients’ lives and outcomes. Cosmos Holdings has offices and distribution centers in Thessaloniki, Greece and Harlow, UK.

Press Release Disclaimer

Cosmos Holdings, Inc. takes no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services.

Forward-Looking Statements

With the exception of the historical information contained in this news release, the matters described herein may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements involve unknown risks and uncertainties that may individually or materially impact the matters discussed herein for a variety of reasons that are outside the control of the company, including, but not limited to, the company’s ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic on the company’s business, operations and the economy in general, and the Company’s ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the company’s filings with the SEC, which are available at the SEC’s website (www.sec.gov). The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations

Michael J. Porter, President
Porter, LeVay & Rose, Inc.
T: (973) 865-9357
E: [email protected] 
LinkedIn
@PlRinvest

Cosmos Holdings

+1 312 536 3102


[email protected] 


141 West Jackson Blvd., Suite 4236

Chicago, IL 60604

                                   



Gildan Receives its 13th FUNDAHRSE Seal for ESG work in Honduras

MONTREAL, Dec. 04, 2020 (GLOBE NEWSWIRE) — Gildan Activewear Inc. (GIL: TSX and NYSE) announced today that it is once again a recipient of the Corporate Social Responsibility (CSR) Seal by the Fundación Hondureña de Responsabilidad Social Empresarial (FUNDAHRSE) in Honduras. This is the 13th consecutive year that Gildan receives this award.

“We have always believed in and stood firmly behind our responsibility of caring for our people, conserving the environment, and creating stronger communities. Despite the challenges we faced in 2020, our Environmental, Social, and Governance (ESG) commitments remain unwavering,” said Claudia Sandoval, Vice President, Corporate Citizenship at Gildan. “Further, the humanitarian efforts we recently deployed to support our employees and our neighbouring communities impacted by hurricanes Eta and Iota reflects this strong commitment to our people and communities, particularly in times of hardship,” she continued.

Gildan has been operating in Honduras since 1997, and with close to 23,000 employees in the country today the Company continues to make strategic investments year after year to improve the lives of its employees, reduce its environmental footprint, and strengthen infrastructure for its communities. Recent investments and projects in Honduras include:

C
aring for our people

  • Gildan inaugurated its new Health and Wellness Comprehensive Centre, located at the Company’s Rio Nance complex. The centre includes multiple doctor’s offices, schools for back and shoulder health, an audiometric booth, a breastfeeding area, and a wellness area.
  • Gildan launched and implemented 16 “Gildan Online” (GOL) digital kiosks, a new system to improve communication with employees on the factory floor. The kiosk allows Gildan’s Human Resources team to collect employee grievances and provide faster answers and resolutions.

Conserving the environment

  • Gildan continued to reinforce best practices in water use at all of its Company-owned facilities, allowing the Company to achieve a 11.2% decrease in water intensity in 2019 compared to its 2015 baseline.
  • Gildan also continued to replace bunker fuel with biomass for energy production, allowing Gildan to use renewable energy for 44% of its total energy use in 2019.

Creating stronger communities

  • Gildan extended its partnership with World Vision Honduras to improve the quality of education for children, promote awareness and actions related to environmental conversation, foster leadership in youth and teachers, and support violence preventing education and programs in the communities.
  • Gildan signed an agreement with the Fundación Merendón, an organization focused on the conservation of natural resources. The agreement focuses on contributing to the sustainability of natural resources through the implementation of environmental conservation programs in the areas where Gildan has operations.

FUNDAHRSE is a Honduran organization that promotes the management of responsible businesses and works to boost the competitiveness of small to large companies by promoting the strategic integration of respect for ethical values, people, communities, and the environment in a company’s decision making and business management processes. The FUNDAHRSE CSR Seal is designed to recognize organizations that demonstrate leading practices related to employee and community relations, human rights, labour practices, governance, marketing, environment, and operational practices.

About Gildan

Gildan is a leading manufacturer of everyday basic apparel which markets its products in North America, Europe, Asia Pacific, and Latin America, under a diversified portfolio of Company-owned brands, including Gildan®, American Apparel®, Comfort Colors®, Gildan® Hammer™, Prim + Preux®, GoldToe®, Anvil® by Gildan®, Alstyle®, Secret®, Silks®, Kushyfoot®, Secret Silky®, Therapy Plus®, Peds® and MediPeds®, and under the Under Armour® brand through a sock licensing agreement providing exclusive distribution rights in the United States and Canada. Our product offering includes activewear, underwear, socks, hosiery, and legwear products sold to a broad range of customers, including wholesale distributors, screenprinters or embellishers, as well as to retailers that sell to consumers through their physical stores and/or e-commerce platforms, and to global lifestyle brand companies.

Gildan owns and operates vertically-integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean, North America, and Bangladesh. Gildan operates with a strong commitment to industry-leading labour and environmental practices throughout its supply chain in accordance with its comprehensive Genuine Responsibility® program embedded in the Company’s long-term business strategy. More information about the Company and its corporate citizenship practices and initiatives can be found at www.gildancorp.com and www.genuineresponsibility.com, respectively.

Investor inquiries:   Media inquiries:
Sophie Argiriou   Genevieve Gosselin
Vice President, Investor Communications   Director, Corporate Communications and Marketing
[email protected]     [email protected] 



Ayr Strategies Comments on Temporary Trading Disruption of “AYRSF” on OTC

TORONTO, Dec. 04, 2020 (GLOBE NEWSWIRE) — Ayr Strategies Inc. (CSE: AYR.A, OTCQX: AYRSF) (“Ayr” or the “Company”), a leading vertically integrated cannabis multi-state operator, is aware of a temporary disruption of trading of its shares on the OTC under the symbol “AYRSF.” This disruption has been caused by an administrative issue at FINRA and the Company is working with the appropriate parties to correct the situation in order to resume trading as soon as possible. The Company’s shares continue to trade without disruption on the CSE under the ticker AYR.A.

Forward-Looking Statements

Certain information contained in this news release may be forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are often, but not always, identified by the use of words such as “target”, “expect”, “anticipate”, “believe”, “foresee”, “could”, “would”, “estimate”, “goal”, “outlook”, “intend”, “plan”, “seek”, “will”, “may”, “tracking”, “pacing” and “should” and similar expressions or words suggesting future outcomes. This news release includes forward-looking information and statements pertaining to, among other things, Ayr’s future growth plans. Numerous risks and uncertainties could cause the actual events and results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements, including, but not limited to: anticipated strategic, operational and competitive benefits may not be realized; events or series of events, including in connection with COVID-19, may cause business interruptions; required regulatory approvals may not be obtained; acquisitions may not be able to be completed on satisfactory terms or at all; and Ayr may not be able to raise additional debt or equity capital. Among other things, Ayr has assumed that its businesses will operate as anticipated, that it will be able to complete acquisitions on reasonable terms, and that all required regulatory approvals will be obtained on satisfactory terms and within expected time frames. In particular, there can be no assurance that we will complete the pending acquisitions in or enter into agreements with respect to other acquisitions.

About Ayr Strategies Inc.

Ayr Strategies (“Ayr”) is an expanding vertically integrated, U.S. multi-state cannabis operator, focusing on high-growth markets. The Company cultivates and manufactures branded cannabis products for distribution through its network of retail outlets and through third-party stores. Ayr strives to enrich consumers’ experience every day – helping them to live their best lives, elevated.

Ayr’s leadership team brings proven expertise in growing successful businesses through disciplined operational and financial management, and is committed to driving positive impact for customers, employees and the communities they touch. For more information, please visit www.ayrstrategies.com.

Company Contact:

Megan Kulick, Head of Investor Relations
T: (646) 977-7914
Email: [email protected]

Investor
Relations Contact:

Sean Mansouri, CFA or Cody Slach
Gateway Investor Relations
T: (949) 574-3860
Email: [email protected]



Inphi Wins GSA’s Most Respected Public Semiconductor Company Award

Prestigious Industry Award Recognizes Inphi’s Remarkable Growth

SAN JOSE, Calif., Dec. 04, 2020 (GLOBE NEWSWIRE) — Inphi Corporation (NASDAQ: IPHI), a leader in high-speed data movement interconnects, announced today that it was awarded the Global Semiconductor Alliance’s (GSA) award for Most Respected Public Semiconductor Company Achieving $500 Million to $1 Billion in Annual Sales. The award is based on feedback from the greater GSA community, and recognizes leading semiconductor companies that have exhibited market growth through technological innovation and exceptional business management strategies.

“Although it has been a challenging year for all, Inphi has become a major force in the semiconductor industry. Their peers, partners and customers admire their strong growth and accordingly the GSA has bestowed the ‘Most Respected Public Semiconductor Company Award’ to Inphi,” said Jodi Shelton, CEO and Co-Founder of GSA. “The company has had a rapid rise to the leading ranks of the high-speed data movement and accelerated the transition to the digital world. This recognition is well deserved.”

“Winning the GSA award culminates a tremendous 2020 for Inphi,” said Ford Tamer, President and CEO of Inphi. “This is very special for Inphi because it’s the first time we’ve been nominated and won the ‘Most Respected Public Semiconductor Award.’ Thank you to GSA and to our amazing Inphi team for your great accomplishments that have led to growing our revenue, profits, stock price, and market growth over 20 times since 2012. Thank you to our customers, partners, and shareholders for your continued support during the various ups and downs. We’re very honored.”

GSA member companies cast online votes each year for the Most Respected Public Semiconductor Companies at several revenue levels based on best products, vision and future opportunities. Over the past 24 years, the GSA awards program has recognized the achievements of top-performing semiconductor firms in a variety of categories.

About the GSA Awards Virtual Program

The annual GSA Awards Celebration is the industry’s premier event. Each year the GSA recognizes companies that have demonstrated excellence through their vision, strategy, execution and future opportunity. The celebration honors the achievements of semiconductor companies in several categories ranging from outstanding leadership to financial accomplishments, as well as overall respect within the industry. For a list of winners, please visit the event website.

About
Inphi

Inphi Corporation is a leader in high-speed data movement interconnects. We move big data – fast, throughout the globe, between data centers, and inside data centers.  Inphi’s expertise in signal integrity results in reliable data delivery, at high speeds, over a variety of distances. As data volumes ramp exponentially due to video streaming, social media, cloud-based services, and wireless infrastructure, the need for speed has never been greater. That’s where we come in. Customers rely on Inphi’s solutions to develop and build out the Service Provider and Cloud infrastructures, and data centers of tomorrow. To learn more about Inphi, visit www.inphi.com or connect with Inphi on Twitter or LinkedIn.

Inphi, the Inphi logo and Think fast are registered trademarks of Inphi Corporation. All other trademarks used herein are the property of their respective owners.

Corporate Contact:

Kim Markle
Inphi
[email protected]



Tauriga Sciences Inc. to Further Expand its Product Offerings With Dark Chocolate [20mg] CBD Infused Round Medallions

NEW YORK, NY, Dec. 04, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Tauriga Sciences, Inc. (OTCQB: TAUG) (“Tauriga” or the “Company”), a revenue generating, diversified life sciences company, with a proprietary line of functional “supplement” chewing gums (Flavors: Pomegranate, Blood Orange, Peach-Lemon, Pear Bellini, Mint, Black Currant) as well as two ongoing Biotechnology initiatives, today announced the further expansion of its product offerings – with the development of dark chocolate [20mg] CBD Infused Round Medallions (“Medallions”).  Each dark chocolate medallion will be infused with 20mg CBD Isolate and will be sold exclusively on the Company’s E-Commerce website: www.taurigum.com. Additionally these dark chocolate medallions will be:  lab tested, kosher certified, cholesterol free, NON-GMO, THC Free, and Only 49 Calories per medallion.

Manufacturer’s Suggested Retail Price (“MSRP”):  $4.99 Each or $12.99 for Pack of 3 Medallions    

In other news, the Company is firmly on track to report record quarterly sales – for its current operating quarter (3rd Fiscal Quarter 2021 / Period: October 1, 2020 thru December 31, 2020).  Lastly, the Company is pleased with the initial sales of its Limited Edition Hanukkah Special Gift Pack (“Hanukkah Special”) and is expecting a sharp increase over the next 15-20 days.    

Link to Purchase Tauri-Gum™ Hanukkah Special Gift Pack:

Link:  https://taurigum.com/products/hannukah-gift-special

ABOUT TAURIGA SCIENCES INC.

Tauriga Sciences, Inc. (TAUG) is a revenue generating, diversified life sciences company, engaged in several major business activities and initiatives.  The company manufactures and distributes several proprietary retail products and product lines, mainly focused on the Cannabidiol (“CBD”) and Cannabigerol (“CBG”) Edibles market segment.  The main product line, branded as Tauri-Gum™, consists of a proprietary supplement chewing gum that is Kosher certified, Halal certified, and Vegan Formulated (CBD Infused Tauri-Gum™ Flavors: Mint, Blood Orange, Pomegranate), (CBG Infused Tauri-Gum™ Flavors: Peach-Lemon, Black Currant) & (Vitamin C + Zinc “Immune Booster” Tauri-Gum™ Flavor: Pear Bellini).  The Company’s commercialization strategy consists of a broad array of retail customers, distributors, and a fast-growing E-Commerce business segment (E-Commerce website: www.taurigum.com). Please visit our corporate website, for additional information, as well as inquiries, at http://www.tauriga.com

Complementary to the Company’s retail business, are its two ongoing biotechnology initiatives.  The first one relates to the development of a Pharmaceutical grade version of Tauri-Gum™, for nausea regulation (specifically designed to help patients that are subjected to ongoing chemotherapy treatment). On March 18, 2020, the Company announced that it filed a provisional U.S. patent application covering its pharmaceutical grade version of Tauri-Gum™.  The Patent, filed with the U.S.P.T.O. is Titled “MEDICATED CBD COMPOSITIONS, METHODS OF MANUFACTURING, AND METHODS OF TREATMENT”. The second one relates to a collaboration agreement with Aegea Biotechnologies Inc. for the co-development of a rapid, multiplexed, Novel Coronavirus (COVID-19) test with superior sensitivity and selectivity.   

On October 6, 2020, the Company announced that it has been approved to operate as a U.S. Government Vendor (CAGE CODE # 8QXV4)

On October 7, 2020 the Company disclosed a Strategic Alliance with Think BIG, LLC, Social Impact Startup Founded by CJ Wallace, Son of Christopher “The Notorious B.I.G.” Wallace.

The Company is headquartered in New York City and operates a regional office in Barcelona, Spain.  In addition, the Company operates a full time E-Commerce fulfillment center located in LaGrangeville, New York.

DISCLAIMER — Forward-Looking Statements

This press release contains certain “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 which represent management’s beliefs and assumptions concerning future events. These forward-looking statements are often indicated by using words such as “may,” “will,” “expects,” “anticipates,” believes, “hopes,” “believes,” or plans, and may include statements regarding corporate objectives as well as the attainment of certain corporate goals and milestones. Forward-looking statements are based on present circumstances and on management’s present beliefs with respect to events that have not occurred, that may not occur, or that may occur with different consequences or timing than those now assumed or anticipated. Actual results may differ materially from those expressed in  forward looking statements due to known and unknown risks and uncertainties, such as are not guarantees of general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to consummate successful acquisition and licensing transactions, fluctuations in exchange rates, and other factors over which Tauriga has little or no control. Many of these risks and uncertainties are discussed in greater detail in the “Risk Factors” section of Tauriga’s Form 10-K and other filings made from time to time with the Securities and Exchange Commission. Such forward-looking statements are made only as of the date of this release, and Tauriga assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. You should not place undue reliance on these forward-looking statements.

Contact:

Tauriga Sciences, Inc.

555 Madison Avenue, 5th Floor

New York, NY  10022

Chief Executive Officer

Mr. Seth M. Shaw

Email: [email protected]

cell # (917) 796 9926

Instagram: @taurigum

Twitter: @SethMShaw

Corp. Website:  www.tauriga.com

E-Commerce Website:  www.taurigum.com

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Latest job numbers signal bleak winter ahead

OTTAWA, Dec. 04, 2020 (GLOBE NEWSWIRE) — Canada’s unions are raising the alarm that many workers are facing a bleak winter of unemployment and under-employment with no immediate relief in sight.

November’s labour force survey released today by Statistics Canada showed high rates of long-term unemployment. A total of 1.5 million people are currently unemployed and looking for work; 400,000 have been without work for six months or longer. Another 317,000 workers dropped out of the labour market altogether last month.

“The scale of the jobs crisis has been without parallel in recent memory,” said Hassan Yussuff, President of the Canadian Labour Congress. “The second wave of this pandemic is making life very difficult for many workers, many of whom have given up trying to find work for the time being. Beyond the immediate emergency supports that are helping to put food on the table for these families, government stimulus will be key to putting people back to work.”

The survey also showed that women continue to bear the brunt of child care responsibilities, with 55 per cent more mothers with young children working less than half their usual hours compared to this time last year.

The federal government has made commitments towards the creation of one million jobs and investments in skills and training.

“We’re heartened that the government has promised to make investments in long-term care and child care, two areas that employ significant numbers of women, including many who are racialized,” said Yussuff. “However, time is of the essence and workers need to see concrete actions.”

A recent study showed that investment in early learning and child care would create 200,000 new jobs in child care provision and another 80,000 indirect jobs, including 8,000 construction jobs. It would also increase women’s participation by as many as 725,000 additional workers.

Austerity policies implemented soon after the 2008-09 global economic downturn led to sluggish growth, prolonged unemployment and growing precarity in Canada. In our current crisis, continued income support and expanded public investments will be crucial to help people weather the pandemic’s second wave and to move the nation towards a strong recovery.

To arrange an interview, please contact:
CLC Media Relations
[email protected]
613-526-7426



DEADLINE REMINDER: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Loop Industries, Inc. (LOOP)

PR Newswire

BENSALEM, Pa., Dec. 4, 2020 /PRNewswire/ — Law Offices of Howard G. Smith reminds investors of the upcoming December 14, 2020deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Loop Industries, Inc. (“Loop” or the “Company”) (NASDAQ: LOOP) securities between September 24, 2018 and October 12, 2020, inclusive (the “Class Period”).  

Investors suffering losses on their Loop investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].

On October 13, 2020, Hindenburg Research published a report alleging, among other things, that “Loop’s scientists, under pressure from CEO Daniel Solomita, were tacitly encouraged to lie about the results of the company’s process internally.” The report also stated that “Loop’s previous claims of breaking PET down to its base chemicals at a recovery rate of 100% were ‘technically and industrially impossible,'” according to a former employee. Moreover, the report alleged that “Executives from a division of key partner Thyssenkrupp, who Loop entered into a ‘global alliance agreement’ with in December 2018, told us their partnership is on ‘indefinite’ hold and that Loop ‘underestimated’ both costs and complexities of its process.”

On this news, Loop’s share price fell $3.78, or over 32%, to close at $7.83 per share on October 13, 2020, thereby damaging investors.

The complaint filed 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: (1) that Loop scientists were encouraged to misrepresent the results of Loop’s purportedly proprietary process; (2) that Loop did not have the technology to break PET down to its base chemicals at a recovery rate of 100%; (3) that, as a result, the Company was unlikely to realize the purported benefits of Loop’s announced partnerships with Indorama and Thyssenkrupp; 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.

If you purchased Loop securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania, 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
[email protected]
www.howardsmithlaw.com

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SOURCE Law Offices of Howard G. Smith

Marvell Earns GSA’s Most Respected Public Semiconductor Company Award

PR Newswire

SANTA CLARA, Calif., Dec. 4, 2020 /PRNewswire/ — Marvell (NASDAQ: MRVL) has been named the “2020 Most Respected Public Semiconductor Company” by the Global Semiconductor Alliance (GSA) for companies with $1 billion to $5 billion in annual sales. Decided by GSA members, the Most Respected Public Semiconductor Company Awards are designed to identify public companies garnering the most respect within the semiconductor industry in terms of products, vision and future opportunities. Marvell also received this recognition in 2018.

“It is an honor for Marvell to be recognized by GSA. We have worked hard to create market leading products and technologies to propel the data infrastructure market together with our customers and partners,” said Matt Murphy, President and CEO of Marvell. “I couldn’t be more proud of the global Marvell team who have enabled our ongoing growth and transformation – particularly during the unprecedented challenges of 2020. Without their dedication and support, this win would not have been possible.”

GSA represents more than 250 of the top companies in the semiconductor industry – together, its members generate 75% of the industry’s revenues. The GSA Awards recognize the achievements of top semiconductor companies and the exemplary individuals who work at these companies.

“Marvell continues to make innovative strides within the semiconductor industry, expanding its portfolio of products to support the needs of key industries, making strategic acquisitions, and joining coalitions to further the advancement of industry standards,” said Jodi Shelton, CEO and Co-Founder of GSA. “GSA offers its congratulations to Marvell on its well-deserved win.”

About GSA
GSA is Where Leaders Meet to establish an efficient, profitable and sustainable high technology global ecosystem encompassing semiconductors, software, solutions, systems and services. A leading industry organization that represents more than 25 countries and 250 corporate members, including 100 public companies, GSA provides a unique, neutral platform for collaboration, where global executives interface and innovate with peers, partners and customers to accelerate industry growth and maximize return on invested and intellectual capital. Members of the GSA represent 70 percent of the $450B+ semiconductor industry and continue to grow.

About Marvell
To deliver the data infrastructure technology that connects the world, we’re building solutions on the most powerful foundation: our partnerships with our customers. Trusted by the world’s leading technology companies for 25 years, we move, store, process and secure the world’s data with semiconductor solutions designed for our customers’ current needs and future ambitions. Through a process of deep collaboration and transparency, we’re ultimately changing the way tomorrow’s enterprise, cloud, automotive, and carrier architectures transform—for the better.

Marvell and the M logo are trademarks of Marvell or its affiliates. Please visit www.marvell.com for a complete list of Marvell trademarks. Other names and brands may be claimed as the property of others.

For further information, contact:

Stacey Keegan

Vice President, Corporate Marketing
[email protected]

 

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SOURCE Marvell

Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Biogen, Inc. (BIIB)

Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Biogen, Inc. (BIIB)

LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming January 12, 2021 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Biogen, Inc. (“Biogen” or the “Company”) (NASDAQ: BIIB) securities between October 22, 2019 and November 6, 2020, inclusive (the “Class Period”).

If you suffered a loss on your Biogen investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/biogen-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.

Biogen develops therapies for treating neurological and neurodegenerative diseases. One of its product candidates is aducanumab (BIIB037), an investigational human monoclonal antibody studied for use as a treatment for early Alzheimer’s disease.

On October 22, 2019, the Company announced that it would seek regulatory approval from the U.S. Food and Drug Administration (“FDA”) for aducanumab “based on a new analysis, conducted by Biogen in consultation with the FDA, of a larger dataset from the Phase 3 clinical studies that were discontinued in March 2019 following a futility analysis.” According to Biogen, the new analysis “show[ed] that aducanumab is pharmacologically and clinically active as determined by dose-dependent effects in reducing brain amyloid and in reducing clinical decline as assessed by the pre-specified primary endpoint Clinical Dementia Rating-Sum of Boxes (CDR-SB).”

On November 6, 2020, Reuters reported that an FDA panel found it “cannot ignore unsuccessful trial data on Biogen Alzheimer’s drug.” The panel had also “voted that an earlier-stage study does not offer supportive evidence of Biogen’s application for the drug, aducanumab.”

On this news, the Company’s stock price fell $92.64 per share, or 28%, to close at $236.26 per share on November 9, 2020, thereby injuring investors.

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 larger dataset did not provide necessary data regarding aducanumab’s effectiveness; (2) the EMERGE study did not and would not provide necessary data regarding aducanumab’s effectiveness; (3) the PRIME study did not and would not provide necessary data regarding aducanumab’s effectiveness; (4) the data provided by the Company to the FDA’s Peripheral and Central Nervous System Drugs Advisory Committee did not support finding efficacy of aducanumab; and (5) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Biogen securities during the Class Period, you may move the Court no later than January 12, 2021 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Glancy Prongay & Murray LLP, Los Angeles

Charles Linehan, 310-201-9150 or 888-773-9224

[email protected]

www.glancylaw.com

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Legal Professional Services

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