Market Newsdesk

November 13, 2020 4:23 pm

voxeljet Receives Follow-Up Order for its New High-Speed 3D Printer VJET X for a Premium German Car Maker: This Order Reaffirms the Company’s Message, That its New 3D Printers Are Making High-Volume Industrial Production Possible and Cost Efficient

voxeljet Receives Follow-Up Order for its New High-Speed 3D Printer VJET X for a Premium German Car Maker: This Order Reaffirms the Company’s Message, That its New 3D Printers Are Making High-Volume Industrial Production Possible and Cost Efficient

News highlights

Three additional VJET X high-speed 3D printers were ordered recently: 1 VJET X unit in August 2020 and 2 VJET X units in September 2020

The follow-up order comes as part of a frame contract concluded in 2018 between voxeljet, its partners and a leading German car maker. The first two VJET X units were ordered mid-2018. This follow-up order brings the current total to 5 VJET X units for this OEM

The follow-up order reaffirms voxeljet’s message that its new 3D printers are making additive, serial production possible and cost efficient

VJET X 3D printers are 10x faster than previous models, which results in a layering speed close to 5 seconds and are integrated into fully automated postprocessing solutions

The 3D printers use an environmentally friendly inorganic binder system for zero emissions during core printing, storage and when using the sand cores in the casting process

FRIEDBERG, Germany–(BUSINESS WIRE)–
voxeljet AG (NASDAQ: VJET) (the “Company”, or “voxeljet”), a leading provider of high-speed, large-format 3D printers and on-demand parts services to industrial and commercial customers, today announced that it received the follow-up order for three additional units of its new high-speed 3D printer VJET X over the last two months. VJET X 3D printers are made for industrial production: they are 10x faster than previous models and integrated into fully automated postprocessing solutions. The follow-up order comes as part of a frame contract concluded in 2018 between voxeljet, its partners and a leading German car maker.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201113005466/en/

VJET X 3D Printer (Photo: Business Wire)

This follow-up order is a significant milestone in VJETs mission to bring 3D printing into high-volume, industrial production and reaffirms the Company’s message that its new 3D printers are making high volume industial production possible and cost efficient.

Dr. Ingo Ederer, founder and CEO of voxeljet commented: “With this order we reached a significant milestone in our mission to bring 3D printing into high-volume industrial production. This is extremely exciting, as it not only highlights the significance of our technology, but also the confidence this leading German car maker has in the new solution and the players behind it. Together with our partners, we can today offer a solution for the mass production of complex sand cores for light metal parts at, what we believe to be, a fraction of the costs as compared to other players in the additive manufacturing industry. With the new environmental-friendly binder system, there are zero emissions during the casting of the sand cores. The casted, complex light-metal parts can have superior characteristics, such as less weight and new features, and can ultimately help to reduce CO2 emissions substantially.”

About voxeljet

voxeljet’ s (NASDAQ: VJET) roots reach back to the year 1995 with the first successful dosing of UV-resins. In the context of a “hidden” project, initial 3D-printing tests are performed at the Technical University Munich. Our company was founded on May 5, 1999 as a spin-off from TUM in Munich with a clear vision in mind: to establish a new manufacturing standard by developing new generative processes for the series-production of complex components using 3D printing. In the beginning, operations are launched with four employees at the TUM. Today, we are a globally acting, leading provider of high-speed, large-format 3D printers and on-demand 3D printed parts to industrial and commercial customers. Components manufactured with the help of our technology are flying in space, make mobility more efficient and the production of new engineering solutions possible. For more information, visit www.voxeljet.com.

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements concerning our business, operations and financial performance. Any statements that are not of historical facts may be deemed to be forward-looking statements. You can identify these forward-looking statements by words such as ‘‘believes,’’ ‘‘estimates,’’ ‘‘anticipates,’’ ‘‘expects,’’ ‘‘plans,’’ ‘‘intends,’’ ‘‘may,’’ ‘‘could,’’ ‘‘might,’’ ‘‘will,’’ ‘‘should,’’ ‘‘aims,’’ or other similar expressions that convey uncertainty of future events or outcomes. Forward-looking statements include statements regarding our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations concerning, among other things, our results of operations, financial condition, business outlook, the potential application of new technology and new materials and their impact on future business, the industry in which we operate and the trends that may affect the industry or us. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that forward-looking statements are not guarantees of future performance. All of our forward-looking statements are subject to known and unknown risks, uncertainties and other factors that are in some cases beyond our control and that may cause our actual results to differ materially from our expectations, including those risks identified under the caption “Risk Factors” in the Company’s Annual Report on Form 20-F and in other reports the Company files with the U.S. Securities and Exchange Commission. Except as required by law, the Company undertakes no obligation to publicly update any forward-looking statements for any reason after the date of this press release whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201113005466/en/

Investors and Media

Johannes Pesch

Director Investor Relations and Business Development

johannes.pesch@voxeljet.de

Office: +49 821 7483172

Mobile: +49 176 45398316

KEYWORDS: Germany Europe

INDUSTRY KEYWORDS: Electronic Design Automation Engineering Automotive Manufacturing Technology Manufacturing Hardware

MEDIA:

Logo

Photo

VJET X 3D Printer (Photo: Business Wire)

November 13, 2020 4:18 pm

North European Oil Royalty Trust Announces The Net Income For The Fourth Quarter Of Fiscal 2020

PR Newswire

KEENE, N.H., Nov. 13, 2020 /PRNewswire/ — North European Oil Royalty Trust (NYSE: NRT) reported the net income for the fourth quarter of fiscal 2020 which appears below compared with the fourth quarter of fiscal 2019. Total royalty income for the fourth quarter of fiscal 2020 includes negative adjustments made by the operating companies based upon their corrected royalty calculations for the preceding quarter, –$443,014, and for the 2019 fiscal year, –$254,369.

	4th Fiscal Quarter Ended 10/31/2020	4th Fiscal Quarter Ended 10/31/2019	Percentage Change
Total Royalty Income	$348,614	$1,660,135	-79.00%
Net Income	$218,649	$1,516,063	-85.58%
Distributions per Unit	$0.02	$0.16	-87.50%

The decline in total royalty income received for fiscal 2020 resulted to a large extent from the impact of COVID-19 and the associated economic disruption. The Trust received negative adjustments in fiscal 2020 which decreased royalty income by $653,916, whereas in fiscal 2019 the Trust received positive adjustments which increased royalty income by $225,450. Under the Mobil Agreement for fiscal 2020, gas prices, gas sales and average exchange rates showed percentage changes of -30.10%, -15.87% and -0.73%, respectively, in comparison to fiscal 2019. Under the OEG Agreement for fiscal 2020, gas prices, gas sales and average exchange rates showed percentage changes of -29.91%, -16.55% and -0.99%, respectively, in comparison to fiscal 2019. The comparison of the relevant periods is shown below.

	Fiscal Year Ended 10/31/2020	Fiscal Year Ended 10/31/2019	Percentage Change
Total Royalty Income	$4,050,017	$8,344,712	-51.47%
Net Income	$3,286,363	$7,578,065	-56.63%
Distributions per Unit	$0.32	$0.82	-60.98%

The 2020 Annual Meeting is scheduled to begin at 11:00 a.m. on February 17, 2021. The first part of the meeting will consist of an informal question and answer period held via Zoom. The second part, which will constitute the formal annual meeting, will be for purposes of voting on the proposals presented in the proxy statement. Further details will be provided in the Notice of Annual Meeting of Unit Owners which is being mailed in early January.

The previously declared distribution of 2 cents per unit will be paid on November 25, 2020 to owners of record as of November 13, 2020. For further information contact John R. Van Kirk, Managing Director, at (732) 741-4008 or via e-mail at jvankirk@neort.com. The Trust’s press releases, along with other pertinent information, are available on the Trust’s website: www.neort.com.

View original content:http://www.prnewswire.com/news-releases/north-european-oil-royalty-trust-announces-the-net-income-for-the-fourth-quarter-of-fiscal-2020-301172913.html

SOURCE North European Oil Royalty Trust

November 13, 2020 4:18 pm

Regeneron Announces Investor Conference Presentations

PR Newswire

TARRYTOWN, N.Y., Nov. 13, 2020 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) will webcast management participation as follows:

Evercore ISI 3^rd Annual HealthCONx Conference at 10:30 a.m. EST on Tuesday, December 1, 2020

Piper Sandler 32^nd Annual Virtual Healthcare Conference at 8:00 a.m. EST on Wednesday, December 2, 2020

The sessions may be accessed from the “Investors & Media” page of Regeneron’s website at https://investor.regeneron.com/events-and-presentations. Replays of the webcasts will be archived on the Company’s website for at least 30 days.

About Regeneron
Regeneron (NASDAQ: REGN) is a leading biotechnology company that invents life-transforming medicines for people with serious diseases. Founded and led for over 30 years by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to eight FDA-approved treatments and numerous product candidates in development, all of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, pain, infectious diseases and rare diseases.

Regeneron is accelerating and improving the traditional drug development process through our proprietary VelociSuite^® technologies, such as VelocImmune^®, which uses unique genetically-humanized mice to produce optimized fully-human antibodies and bispecific antibodies, and through ambitious research initiatives such as the Regeneron Genetics Center, which is conducting one of the largest genetics sequencing efforts in the world.

For additional information about the company, please visit www.regeneron.com or follow @Regeneron on Twitter.

Contact Information:
Investor Relations
Justin Holko
914.847.7786
justin.holko@regeneron.com

View original content:http://www.prnewswire.com/news-releases/regeneron-announces-investor-conference-presentations-301172851.html

SOURCE Regeneron Pharmaceuticals

November 13, 2020 4:18 pm

Harvest Oil & Gas Announces One-time $10.00 per Share Cash Distribution

HOUSTON, Nov. 13, 2020 (GLOBE NEWSWIRE) — Harvest Oil & Gas Corp. (OTCQX: HRST) (“Harvest” or the “Company”) announced today that it has declared a one-time cash distribution of $10.00 per share.

The Board of Directors of Harvest has approved a one-time cash distribution of $10.00 per share to common stockholders of record on November 23, 2020 to be paid on November 30, 2020. The Company expects to have no current or accumulated earnings and profits (as determined for U.S. federal income tax purposes) and reasonably estimates that the cash distribution should not constitute a taxable dividend for U.S. federal income tax purposes. Rather, the cash distribution would generally first constitute non-taxable return of capital and a reduction in the adjusted tax basis (but not below zero) of each recipient stockholder’s shares of stock in the Company, and thereafter any amount of the cash distribution in excess of such recipient stockholder’s adjusted tax basis would be treated as gain from the sale or exchange of such stock. Information regarding tax matters in this press release is for general information purposes only and does not constitute tax advice. Stockholders should consult with their tax advisors as to the specific U.S. federal, state, local, and non-U.S. tax consequences to such stockholder related to the cash distribution.

For Harvest’s warrants (OTCQB: HRSTW) and per the terms of the Warrant Agreement entered into on June 4, 2018, the cash distribution is classified as a Special Dividend and will result in a reduction of the warrant exercise price by $10.00 to $284.80, effective as of November 24, 2020.

About Harvest Oil & Gas Corp.

Harvest has been an independent oil and gas company; the Company intends to evaluate and undertake the process of winding-up and returning capital to its shareholders. More information about Harvest is available on the internet at https://www.hvstog.com.

Forward Looking Statements

This press release contains certain statements that are, or may be deemed to be, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends affecting the financial condition of its business. These forward-looking statements are subject to a number of risks and uncertainties, most of which are difficult to predict and many of which are beyond its control, including the completion of the proposed transaction on the terms or timeline currently contemplated or at all. Please read the Company’s filings with the OTC Markets Group, the Securities and Exchange Commission, including “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2019, and other public filings and press releases for a discussion of risks and uncertainties that could cause actual results to differ from those anticipated or implied in such forward-looking statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “plan,” “expect,” “indicate” and similar expressions are intended to identify forward-looking statements. All statements other than statements of current or historical fact contained in this press release are forward-looking statements. Although the Company believes that the forward-looking statements contained in this press release are based upon reasonable assumptions, the forward-looking events and circumstances discussed in this press release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements.

You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact Information:
Harvest Oil & Gas Corp.
Houston, TX 77002
Michael Mercer, President and CEO
713-651-1144
hvstog.com

November 13, 2020 4:18 pm

Sequential Brands Group to Announce Third Quarter 2020 Financial Results on November 16, 2020

NEW YORK, Nov. 13, 2020 (GLOBE NEWSWIRE) — Sequential Brands Group, Inc. (“Sequential” or the “Company”) (NASDAQ:SQBG) will issue financial results for its third quarter ended September 30, 2020 after the market closes on Monday, November 16, 2020.

Management will provide further commentary on the Company’s financial results on a conference call at 4:15pm ET that day. To join the conference call, please dial (877) 407-9208 or visit the investor relations page on the Company’s website: www.sequentialbrandsgroup.com

About Sequential Brands Group, Inc.

Sequential Brands Group, Inc. (Nasdaq:SQBG) owns, promotes, markets, and licenses a portfolio of consumer brands in the active and lifestyle categories. Sequential seeks to ensure that its brands continue to thrive and grow by employing strong brand management and marketing teams. Sequential has licensed and intends to license its brands in a variety of consumer categories to retailers, wholesalers and distributors in the United States and around the world. For more information, please visit Sequential’s website at: www.sequentialbrandsgroup.com.

Investor Relations Contact:

Katherine Nash: knash@sbg-ny.com; (512) 757-2566

November 13, 2020 4:18 pm

DCP Midstream to Participate in 2020 RBC Capital Markets Midstream and Energy Infrastructure Virtual Conference

DENVER, Nov. 13, 2020 (GLOBE NEWSWIRE) — DCP Midstream, LP (NYSE: DCP) announced that Wouter van Kempen, chairman, president, and chief executive officer and Sean O’Brien, group vice president and chief financial officer will conduct a series of one-on-one and small group meetings with investment community representatives at the 2020 RBC Capital Markets Midstream and Energy Infrastructure Virtual Conference on November 18, 2020. The materials used at this conference will be posted on the Investors section of DCP Midstream’s website at www.dcpmidstream.com on November 17, 2020.

ABOUT DCP MIDSTREAM, LP

DCP Midstream, LP (NYSE: DCP) is a Fortune 500 midstream master limited partnership headquartered in Denver, Colorado, with a diversified portfolio of gathering, processing, logistics and marketing assets. DCP is one of the largest natural gas liquids producers and marketers and one of the largest natural gas processors in the U.S. The owner of DCP’s general partner is a joint venture between Enbridge and Phillips 66. For more information, visit the DCP Midstream, LP website at www.dcpmidstream.com.

DCP Investor and Media Relations

Sarah Sandberg
(303) 605-1626

November 13, 2020 4:18 pm

NI Holdings, Inc., announces retirement of Executive VP and CFO Brian Doom

FARGO, N.D., Nov. 13, 2020 (GLOBE NEWSWIRE) — NI Holdings, Inc. (NASDAQ: NODK) today announced the impending retirement of top executive Brian Doom, effective May 25, 2021.

Doom serves as Executive Vice President, Secretary/Treasurer, and CFO of NI Holdings, Inc. and all affiliated companies (Nodak Insurance Company, American West Insurance Company, Battle Creek Mutual Insurance Company, Primero Insurance Company, Direct Auto Insurance Company, Nodak Mutual Group, Inc., Tri-State, LTD, and Nodak Agency, Inc.).

He joined Nodak Insurance Company in December 2005 and helped lead the company through demutualization in 2017.

“I want to congratulate Brian on his retirement from Nodak Insurance Company,” said Michael J. Alexander, President and CEO. “For the past 15 years, Brian has provided outstanding leadership in the finance area, our company’s reinsurance programs, investment and financial decisions. We will miss his leadership, insight and experience here at Nodak. I want to wish him and Julie the best as they move back to their home state of Iowa to spend more time with family and friends.”

“Very simply, the past 15 years have been fun,” said Doom. “I have had the pleasure of working with a great financial team, a collaborative management team and a supportive Board of Directors. We have been able to accomplish a lot throughout the years and I can only imagine that the company will continue to be successful in the future.”

Seth Daggett will assume the role of Executive Vice President, Treasurer and CFO upon Doom’s departure. Daggett joined Nodak in September 2019 and has over 15 years of experience in the property/casualty insurance industry. Prior to joining Nodak, he was the chief financial officer and treasurer at RAM Mutual Insurance Company.

Daggett began his career as an external auditor at Deloitte, and joined Travelers Companies, Inc. in 2004 where he served as senior director of finance from 2008 to 2015. Daggett graduated from the University of North Dakota with bachelor’s degrees in financial management and accounting, and is a certified public accountant. He has the CPCU and ARe designations from the American Institute of Chartered Property Casualty Underwriters and the Insurance Institute of American, and served as a board member of the Minnesota Workers’ Compensation Insurers Association from 2017 to 2019.

Tim Milius will assume a new role within the organization as Chief Accounting Officer and Secretary. Milius has over 33 years of insurance industry experience including financial reporting, financial operations, and project management. Prior to joining Nodak Insurance Company in March 2017, he held several financial management positions with United Health Group and Assurant Health. He currently manages all public company financial reporting for NI Holdings, Inc.

Milius earned bachelor’s degrees in accounting and management information systems from the University of Wisconsin – Milwaukee, and has been a certified public accountant since 1993.

About the Company

NI Holdings, Inc. is an insurance holding company. The company is a North Dakota business corporation that is the stock holding company of Nodak Insurance Company and became such in connection with the conversion of Nodak Mutual Insurance Company from a mutual to stock form of organization and the creation of a mutual holding company. The conversion was consummated on March 13, 2017. Immediately following the conversion, all of the outstanding shares of common stock of Nodak Insurance Company were issued to Nodak Mutual Group, Inc., which then contributed the shares to NI Holdings in exchange for 55% of the outstanding shares of common stock of NI Holdings. Nodak Insurance Company then became a wholly-owned stock subsidiary of NI Holdings.

NI Holdings completed the acquisition of Direct Auto Insurance Company on August 31, 2018, which is a wholly-owned stock subsidiary of NI Holdings.

NI Holdings completed the acquisition of Westminster American Insurance Company on January 1, 2020, which is a wholly-owned stock subsidiary of NI Holdings. Westminster is included in the Company’s financial results as of the closing date.

Nodak Insurance Company owns American West Insurance Company and Primero Insurance Company. Nodak Insurance Company also manages Battle Creek Mutual Insurance Company and reinsures 100% of the risk on all insurance policies issued by Battle Creek.

NI Holdings’ financial statements are the consolidated financial results of NI Holdings; Nodak Insurance, including Nodak Insurance’s wholly-owned subsidiaries American West and Primero, and its affiliate Battle Creek; Direct Auto; and Westminster.

Safe Harbor Statement

Some of the statements included in this news release, particularly those anticipating future financial performance, business prospects, growth and operating strategies, and similar matters, are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Actual results could vary materially. Factors that could cause actual results to vary materially include: our ability to maintain profitable operations, the adequacy of the loss and loss adjustment expense reserves, business and economic conditions, interest rates, competition from various insurance and other financial businesses, terrorism, the availability and cost of reinsurance, adverse and catastrophic weather events, legal and judicial developments, changes in regulatory requirements, our ability to integrate and manage successfully the insurance companies we may acquire from time to time, and other risks we describe in the periodic reports we file with the Securities and Exchange Commission. You should not place undue reliance on any such forward-looking statements. We disclaim any obligation to update such statements or to announce publicly the results of any revisions that we may make to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our SEC reports, including, but not limited to our Annual Report on Form 10-K, as filed with the SEC.

Investor Relations Contacts

:

Brian Doom

Executive Vice President and
Chief Financial Officer

701-298-4200

bdoom@nodakins.com

Timothy J. Milius, CPA

Vice President, Finance

701-298-
4275

tmilius@nodakins.com

Media Contact:

Beth DuFault

701-298-4282

bdufault@nodakins.com

November 13, 2020 4:18 pm

Eagle Point Income Company Inc. Announces First Quarter 2021 Common Stock Distributions

Eagle Point Income Company Inc. Announces First Quarter 2021 Common Stock Distributions

GREENWICH, Conn.–(BUSINESS WIRE)–
Eagle Point Income Company Inc. (the “Company”) (NYSE:EIC) today is pleased to announce the declaration of distributions on shares of the Company’s common stock.

The Company has declared three separate distributions of $0.08 per share on its common stock, payable on each of January 29, 2021, February 26, 2021 and March 31, 2021 to stockholders of record as of January 12, 2021, February 12, 2021 and March 12, 2021, respectively. The following schedule applies to the distributions:

Record Date	Payable Date	Amount per common share
January 12, 2021	January 29, 2021	$0.08
February 12, 2021	February 26, 2021	$0.08
March 12, 2021	March 31, 2021	$0.08

Distributions on common stock are generally paid from net investment income (regular interest and dividends) and may also include capital gains and/or a return of capital. The specific tax characteristics of the distributions will be reported to the Company’s stockholders on Form 1099 after the end of the 2020 calendar year.

ABOUT EAGLE POINT INCOME COMPANY

The Company is a non-diversified, closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of collateralized loan obligations (“CLOs”). In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments. The Company is externally managed and advised by Eagle Point Income Management LLC.

The Company makes certain unaudited portfolio information available each month on its website in addition to making certain other unaudited financial information available on its website (www.eaglepointincome.com). This information includes (1) an estimated range of the Company’s net investment income (“NII”) and realized capital gains or losses per share of common stock for each calendar quarter end, generally made available within the first fifteen days after the applicable calendar month end, (2) an estimated range of the Company’s net asset value (“NAV”) per share of common stock for the prior month end and certain additional portfolio-level information, generally made available within the first fifteen days after the applicable calendar month end, and (3) during the latter part of each month, an updated estimate of NAV, if applicable, and, with respect to each calendar quarter end, an updated estimate of the Company’s NII and realized capital gains or losses per share for the applicable quarter, if available.

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the prospectus and the Company’s other filings with the U.S. Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201113005632/en/

Investor and Media Relations:

ICR

203-340-8510

ir@EaglePointIncome.com

www.eaglepointincome.com

KEYWORDS: United States North America Connecticut

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

November 13, 2020 4:18 pm

ECA Marcellus Trust I Announces There Will Be No Quarterly Distribution

ECA Marcellus Trust I Announces There Will Be No Quarterly Distribution

HOUSTON–(BUSINESS WIRE)–
ECA MARCELLUS TRUST I (OTC Pink: ECTM) announced today that there will be no distribution paid for the quarter ended September 30, 2020 to holders of record as of the close of business on November 23, 2020, as Trust expenses and withholding of funds for the Trust’s cash reserve equaled net revenues to the Trust for the quarter.

As previously disclosed, commencing with the distribution to unitholders paid in the first quarter of 2019, the Trustee has withheld, and in the future intends to withhold, the greater of $90,000 or 10% of the funds otherwise available for distribution each quarter to gradually build a cash reserve of approximately $1,800,000. This cash is reserved to pay or provide for the payment of future known, anticipated or contingent expenses or liabilities of the Trust. The Trustee may increase or decrease the targeted amount at any time, and may increase or decrease the rate at which it is withholding funds to build the cash reserve at any time, without advance notice to the unitholders. Cash held in reserve will be invested as required by the trust agreement. Any cash reserved in excess of the amount necessary to pay or provide for the payment of future known, anticipated or contingent expenses or liabilities of the Trust eventually will be distributed to unitholders, together with interest earned on the funds. The Trustee has elected to withhold approximately $215,000 from funds otherwise available for distribution this quarter, as the Trustee had been unable to withhold sufficient funds toward the building of its targeted cash reserve over the last two quarters because Trust expenses exceeded net revenues to the Trust for each of the quarters ended March 31, 2020 and June 30, 2020.

The Trust was formed to own royalty interests in natural gas properties now held by Greylock Energy LLC, and certain of its wholly owned subsidiaries (“Greylock”) in the Marcellus Shale formation in Greene County, Pennsylvania. The Trust is entitled to receive certain amounts of the proceeds attributable to Greylock’s interest in the sale of production from the properties. As described in the Trust’s filings, the amount of the quarterly distributions is expected to fluctuate from quarter to quarter, depending on the proceeds received by the Trust as a result of production and natural gas prices and the amount of the Trust’s administrative expenses, among other factors. The amount of proceeds received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have declined since the beginning of 2020 primarily attributable to the economic effects of the COVID-19 pandemic and could remain low for an extended period of time. Continued low natural gas prices will reduce proceeds to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.

Pursuant to IRC Section 1446, withholding tax on income effectively connected to a United States trade or business allocated to non-U.S. persons (“ECI”) should be made at the highest marginal rate. Under Section 1441, withholding tax on fixed, determinable, annual, periodic income from United States sources allocated to non-U.S. persons should be made at 30% of gross income unless the rate is reduced by treaty. This release is intended to be a qualified notice to nominees and brokers as provided for under Treasury Regulation Section 1.1446-4(b) by ECA Marcellus Trust I, and while specific relief is not specified for Section 1441 income, this disclosure is intended to suffice. For distributions made to non-U.S. persons, nominees and brokers should withhold at the highest effective tax rate.

This press release contains statements that are “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. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unit holders. The anticipated distribution is based, in part, on the amount of cash received or expected to be received by the Trust from Greylock with respect to the relevant quarterly period. Any differences in actual cash receipts by the Trust could affect this distributable amount. Other important factors that could cause actual results to differ materially include expenses of the Trust and reserves for anticipated future expenses and the effect, impact, potential duration or other implications of the COVID-19 pandemic. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither Greylock nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in Common Units issued by ECA Marcellus Trust I is subject to the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2019, and all of its other filings with the Securities and Exchange Commission. The Trust’s annual, quarterly and other filed reports are or will be available over the Internet at the SEC’s web site at http://www.sec.gov.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201113005631/en/

ECA Marcellus Trust I

The Bank of New York Mellon Trust Company, N.A., as Trustee

Sarah Newell

1(512) 236-6555

KEYWORDS: United States North America Texas

INDUSTRY KEYWORDS: Oil/Gas Energy

MEDIA:

November 13, 2020 4:18 pm

Eagle Point Credit Company Inc. Announces First Quarter 2021 Common and Preferred Distributions

Eagle Point Credit Company Inc. Announces First Quarter 2021 Common and Preferred Distributions

GREENWICH, Conn.–(BUSINESS WIRE)–
Eagle Point Credit Company Inc. (the “Company”) (NYSE:ECC, ECCB, ECCX, ECCY) today is pleased to announce the declaration of distributions on shares of the Company’s common stock.

Record Date	Payable Date	Amount per common share
January 12, 2021	January 29, 2021	$0.08
February 12, 2021	February 26, 2021	$0.08
March 12, 2021	March 31, 2021	$0.08

The Company is also pleased to announce the declaration of distributions on shares of the Company’s 7.75% Series B Term Preferred Stock due 2026 (the “Series B Term Preferred Stock”). The Company has declared a distribution of $0.161459 per share on its Series B Term Preferred Stock payable on each of January 29, 2021, February 26, 2021 and March 31, 2021. The following schedule applies to the distributions:

Record Date	Payable Date	Amount per share of Series B Term Preferred Stock
January 12, 2021	January 29, 2021	$0.161459
February 12, 2021	February 26, 2021	$0.161459
March 12, 2021	March 31, 2021	$0.161459

The distributions on the Series B Term Preferred Stock reflect an annual distribution rate of 7.75% of the $25 liquidation preference per share of the Series B Term Preferred Stock.

ABOUT EAGLE POINT CREDIT COMPANY

The Company is a non-diversified, closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, primarily through investment in equity and junior debt tranches of collateralized loan obligations. The Company is externally managed and advised by Eagle Point Credit Management LLC.

The Company makes certain unaudited portfolio information available each month on its website in addition to making certain other unaudited financial information available on its website (www.eaglepointcreditcompany.com). This information includes (1) an estimated range of the Company’s net investment income (“NII”) and realized capital gains or losses per share of common stock for each calendar quarter end, generally made available within the first fifteen days after the applicable calendar month end, (2) an estimated range of the Company’s net asset value (“NAV”) per share of common stock for the prior month end and certain additional portfolio-level information, generally made available within the first fifteen days after the applicable calendar month end, and (3) during the latter part of each month, an updated estimate of NAV, if applicable, and, with respect to each calendar quarter end, an updated estimate of the Company’s NII and realized capital gains or losses per share for the applicable quarter, if available.

FORWARD-LOOKING STATEMENTS

This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the U.S. Securities and Exchange Commission. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201113005626/en/

Investor and Media Relations:

ICR

203-340-8510

IR@EaglePointCredit.com

www.eaglepointcreditcompany.com

KEYWORDS: United States North America Connecticut

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA: