Market Newsdesk

PHOENIX, Nov. 16, 2020 (GLOBE NEWSWIRE) — Mesa Air Group, Inc. (NASDAQ: MESA) today announced that it has completed a second closing through its previously disclosed five-year Loan and Guarantee Agreement under the Coronavirus Air, Relief, and Economic Security Act (CARES Act).

The Loan Agreement provided a secured term loan facility of up to $200 million. On October 30, 2020, Mesa borrowed $43 million under the facility and today, completed a second closing to borrow an additional $152 million. These funds may be used for general corporate purposes and operating expenses, to the extent permitted by the CARES Act.

“I’d like to again express my sincere gratitude to everyone involved in making this deal happen. Our people have been working very hard to ensure Mesa and its employees are prepared to weather this storm”, said Jonathan Ornstein, Chairman and Chief Executive Officer. “These additional funds will substantially benefit our airline and the communities we serve as we continue to navigate the obstacles created by the pandemic”.

In connection with the additional $152 million drawn under the facility, Mesa issued warrants to the U.S. Treasury to purchase 3,819,095 shares of common stock, no par value. The Warrants have a five-year term from the date issued, were issued pursuant to the Warrant Agreement, and have substantially identical terms to the warrants issued on the initial closing.

About Mesa Air Group, Inc.

Headquartered in Phoenix, Arizona, Mesa Air Group, Inc. is the holding company of Mesa Airlines, a regional air carrier providing scheduled passenger service to 101 cities in 39 states, the District of Columbia, Canada and Mexico. As of October 31st, 2020, Mesa operated a fleet of 146 aircraft with approximately 342 daily departures and 3,200 employees. Mesa operates all of its flights as either American Eagle, United Express, or DHL Express flights pursuant to the terms of capacity purchase agreements entered into with American Airlines, Inc., United Airlines, Inc., and DHL.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about the benefits to Mesa of the additional funds borrowed under the secured term loan facility with the U.S. Treasury and its ability to navigate the obstacles created by the pandemic. All forward-looking statements in this release are made as the date hereof and are based on information available to Mesa as of such date. These forward-looking statements represent the judgment of the Company, as of the date of this release, and the Company disclaims any intent or obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

Investor Relations
Brian Gillman
[email protected]

Media
Matt Harris
[email protected]

KNOXVILLE, TN, Nov. 16, 2020 (GLOBE NEWSWIRE) — Provectus (OTCQB: PVCT) today announced that H. Lee Moffitt Cancer Center (Moffitt) presented non-clinical data from ongoing research on investigational autolytic cancer immunotherapy PV-10, an injectable formulation of Provectus’ proprietary small molecule rose bengal disodium (RBD), as a single-agent and in combination with gemcitabine chemotherapy for the treatment of pancreatic cancer at the Society for Immunotherapy of Cancer’s (SITC) 35^th Anniversary Annual Meeting & Pre-Conference Programs (SITC 2020), held online from November 9-14, 2020.

RBD selectively accumulates in the lysosomes of cancer cells upon contact, disrupts these lysosomes, and causes the cancer cells to die. Intralesional (IL) (aka intratumoral) administration of PV-10 causes acute destruction of injected tumors, resulting in the release of danger-associated molecular pattern molecules (DAMPs) and tumor antigens. These signaling factors may initiate an immunologic cascade, where the innate immune system response may facilitate systemic anti-tumor immunity by the adaptive immune system. PV-10-mediated DAMP release may activate CD8+ T cells, CD4+ T cells, and NKT cells.

Moffitt’s poster presentation, authored by Innamarato et al. and entitled “Intralesional injection of rose bengal augments the efficacy of gemcitabine chemotherapy against pancreatic tumors,” concluded:

• PV-10 kills human and murine pancreatic tumor cells in vitro,
• The combination therapy of PV-10 and gemcitabine reduces the growth rate of murine Panc02 tumors in vivo,
• Immunogenic Panc02OVA tumors are more sensitive in vivo to single-agent PV-10,
• The combination therapy reduces the growth of non-injected bystander Panc02OVA tumors in vivo, and
• Reduced tumor growth after PV-10 treatment is associated with the release of DAMPs.

PV-10-mediated DAMP-release has been demonstrated in three different cancers, varying from immunologically “cold” to “hot” tumor types:

• Pancreatic cancer: Innamarato et al., SITC 2020 (Moffitt; non-clinical)
• Colon cancer: Qin et al., Cell Death and Disease 2017 (University of Illinois at Chicago; non-clinical), and
• Melanoma: Liu et al., Oncotarget 2016 (Moffitt; clinical and non-clinical).

Dominic Rodrigues, Vice Chair of the Company’s Board of Directors said, “We are grateful to the leadership and researchers of the Pilon-Thomas Lab at Moffitt Cancer Center for their translational investigation of cancer immunotherapy PV-10 in melanoma, breast cancer, and now pancreatic cancer. The non-clinical results presented at this year’s annual meeting of the Society for Immunotherapy of Cancer demonstrate that intralesional administration of PV-10 can enhance the efficacy of gemcitabine chemotherapy against pancreatic tumors.”

Mr. Rodrigues added, “A key aspect of our drug development strategy for intralesional administration of PV-10 in solid tumor cancers is targeting disease indications where there is high unmet need among patients, limited activity from approved therapies, and the opportunity to display the contribution of PV-10’s functional immune response to successful patient treatment outcomes. Pancreatic cancer is a deadly disease for which PV-10 could enhance standard of care chemotherapy.”

A copy of the poster presentation is available on Provectus’ website at https://www.provectusbio.com/media/docs/publications/Panc-PV10-Poster-SITC-2020-2.pdf.

About Rose Bengal Disodium

RBD is 4,5,6,7-tetrachloro-2′,4′,5′,7′-tetraiodofluorescein disodium, a halogenated xanthene and Provectus’ proprietary lead molecule. The Company manufactures cGMP RBD using a patented process designed to meet stringent modern global quality requirements for pharmaceuticals and pharmaceutical ingredients.

An IL formulation (i.e., by direct injection) of cGMP RBD drug substance, cGMP PV-10, is being developed as an autolytic immunotherapy drug product for solid tumor cancers. By targeting tumor cell lysosomes, RBD treatment may yield immunogenic cell death in solid tumor cancers that results in tumor-specific reactivity in circulating T cells, including a T cell mediated immune response against treatment refractory and immunologically cold tumors.^1,2,3 Adaptive immunity can be enhanced by combining immune checkpoint blockade (CB) with RBD.⁴ IL PV-10 is undergoing clinical study for relapsed and refractory adult solid tumor cancers, such skin and liver cancers.

IL PV-10 is also undergoing preclinical study for relapsed and refractory pediatric solid tumor cancers, such as neuroblastoma, Ewing sarcoma, rhabdomyosarcoma, and osteosarcoma.^5,6

A topical formulation of cGMP RBD drug substance, PH-10^®, is being developed as a clinical-stage immuno-dermatology drug product for inflammatory dermatoses, such as atopic dermatitis and psoriasis. RBD can modulate multiple interleukin and interferon pathways and key cytokine disease drivers.⁷

Oral formulations of cGMP RBD are undergoing preclinical study for relapsed and refractory pediatric blood cancers, such as acute lymphocytic leukemia and acute myelomonocytic leukemia.^8,9

Oral formulations of cGMP RBD are also undergoing preclinical study as prophylactic and therapeutic treatments for high-risk adult solid tumor cancers, such as head and neck, breast, pancreatic, liver, and colorectal cancers.

Different formulations of cGMP RBD are also undergoing preclinical study as potential treatments for multi-drug resistant (MDR) bacteria, such as Gram-negative bacteria.

Tumor Cell Lysosomes as the Seminal Cancer Drug Target

Lysosomes are the central organelles for intracellular degradation of biological materials, and nearly all types of eukaryotic cells have them. Discovered by Christian de Duve, MD in 1955, lysosomes are linked to several biological processes, including cell death and immune response. In 1959, de Duve described them as ‘suicide bags’ because their rupture causes cell death and tissue autolysis. He was awarded the Nobel Prize in 1974 for discovering and characterizing lysosomes, which are also linked to each of the three primary cell death pathways: apoptosis, autophagy, and necrosis.

Building on the Discovery, Exploration, and Characterization of Lysosomes

Cancer cells, particularly advanced cancer cells, are very dependent on effective lysosomal functioning.¹⁰ Cancer progression and metastasis are associated with lysosomal compartment changes^11,12, which are closely correlated (among other things) with invasive growth, angiogenesis, and drug resistance¹³.

RBD selectively accumulates in the lysosomes of cancer cells upon contact, disrupting the lysosomes and causing the cells to die. Provectus^1,14, external collaborators⁵, and other researchers^15,16,17 have independently shown that RBD triggers each of the three primary cell death pathways: apoptosis, autophagy, and necrosis.

Cancer Cell Autolytic Death via RBD: RBD-induced autolytic cell death, or death by self-digestion, in Hepa1-6 murine hepatocellular carcinoma (HCC) cells can be viewed in this Provectus video of the process (ethidium homodimer 1 [ED-1] stains DNA, but is excluded from intact nuclei; lysosensor green [LSG] stains intact lysosomes; the video is provided in 30-second frames, with a duration of approximately one hour). Exposure to RBD triggers the disruption of lysosomes, followed by nucleus failure and autolytic cell death. Identical responses have been shown by the Company in HTB-133 human breast carcinoma (which can be viewed in this Provectus video of the process, with a duration of approximately two hours) and H69Ar human multidrug-resistant small cell lung carcinoma. Cancer cell autolytic cell death was reproduced by research collaborators in neuroblastoma cells to show that lysosomes are disrupted upon exposure to RBD.⁵

Tumor Autolytic Death via RBD: RBD causes acute autolytic destruction of injected tumors (via autolytic cell death), mediating the release of DAMPs and tumor antigens; release of these signaling factors may initiate an immunologic cascade where local response by the innate immune system may facilitate systemic anti-tumor immunity by the adaptive immune system. The DAMP release-mediated adaptive immune response activates lymphocytes, including CD8+ T cells, CD4+ T cells, and NKT cells, based on clinical and preclinical experience in multiple tumor types. Mediated immune signaling pathways may include an effect on STING, which plays an important role in innate immunity.⁹

Orphan Drug Designations (ODDs)

ODD status has been granted to RBD by the U.S. Food and Drug Administration for metastatic melanoma in 2006, hepatocellular carcinoma in 2011, neuroblastoma in 2018, and ocular melanoma (including uveal melanoma) in 2019.

Intellectual Property (IP)

Provectus’ IP includes a family of US and international (a number of countries in Asia, Europe, and North America) patents that protect the process by which cGMP RBD and related halogenated xanthenes are produced, avoiding the formation of previously unknown impurities that exist in commercial-grade rose bengal in uncontrolled amounts. The requirement to control these impurities is in accordance with International Council on Harmonisation (ICH) guidelines for the manufacturing of an injectable pharmaceutical. US patent numbers are 8,530,675, 9,273,022, and 9,422,260, with expirations ranging from 2030 to 2031.

The Company’s IP also includes a family of US and international (a number of countries in Asia, Europe, and North America) patents that protect the combination of RBD and CB (e.g., anti-CTLA-4, anti-PD-1, and anti-PD-L1 agents) for the treatment of a range of solid tumor cancers. US patent numbers are 9,107,887, 9,808,524, 9,839,688, and 10,471,144, with expirations ranging from 2032 to 2035; US patent application numbers include 20200138942.

About Provectus

Provectus Biopharmaceuticals, Inc. (Provectus or the Company) is a clinical-stage biotechnology company developing immunotherapy medicines for different disease areas based on an entirely- and wholly-owned family of small molecules called halogenated xanthenes. Information about the Company’s clinical trials can be found at the National Institutes of Health (NIH) registry, www.clinicaltrials.gov. For additional information about Provectus, please visit the Company’s website at www.provectusbio.com.

References

1. Wachter et al. Functional Imaging of Photosensitizers using Multiphoton Microscopy. Proceedings of SPIE 4620, 143, 2002.

2. Liu et al. Intralesional rose bengal in melanoma elicits tumor immunity via activation of dendritic cells by the release of high mobility group box 1. Oncotarget 7, 37893, 2016.

3. Qin et al. Colon cancer cell treatment with rose bengal generates a protective immune response via immunogenic cell death. Cell Death and Disease 8, e2584, 2017.

4. Liu et al. T cell mediated immunity after combination therapy with intralesional PV-10 and blockade of the PD-1/PD-L1 pathway in a murine melanoma model. PLoS One 13, e0196033, 2018.

5. Swift et al. Potent in vitro and xenograft antitumor activity of a novel agent, PV-10, against relapsed and refractory neuroblastoma. OncoTargets and Therapy 12, 1293, 2019.

6. Swift et al. In vitro and xenograft anti-tumor activity, target modulation and drug synergy studies of PV-10 against refractory pediatric solid tumors. 2018 ASCO Annual Meeting, J Clin Oncol 36, 2018 (suppl; abstr 10557).

7. Krueger et al. Immune Modulation by Topical PH-10 Aqueous Hydrogel (Rose Bengal Disodium) in Psoriasis Lesions. Psoriasis Gene to Clinic, 8^th International Congress, Br J Dermatol 177.

8. Swift et al. In Vitro Activity and Target Modulation of PV-10 Against Relapsed and Refractory Pediatric Leukemia. 2018 ASH Annual Meeting, Blood 132, 2018 (suppl; abstr 5207).

9. Thakur et al. Association of heat shock proteins as chaperone for STING: A potential link in a key immune activation mechanism revealed by the novel anti-cancer agent PV-10. 2020 AACR VAM II, (abstr 5393).

10. Piao et al. Targeting the lysosome in cancer. Annals of the New York Academy of Sciences. 2016; 1371(1): 45.

11. Nishimura et al. Malignant Transformation Alters Intracellular Trafficking of Lysosomal Cathespin D in Human Breast Epithelial Cells. Pathology Oncology Research. 1998; 4(4): 283.

12. Gocheva et al. Distinct roles for cysteine cathepsin genes in multistage tumorigenesis. Genes & Development. 2006; 20(5): 543.

13. Fehrenbacher et al. Lysosomes as Targets for Cancer Therapy. Cancer Research. 2005; 65 (8): 2993.

14. Wachter et al. Imaging Photosensitizer Distribution and Pharmacology using Multiphoton Microscopy. Proceedings of SPIE 4622, 112, 2002.

15. Koevary. Selective toxicity of rose Bengal to ovarian cancer cells in vitro. International Journal of Physiology, Pathophysiology and Pharmacology 4(2), 99, 2012.

16. Zamani et al. Rose Bengal suppresses gastric cancer cell proliferation via apoptosis and inhibits nitric oxide formation in macrophages. Journal of Immunotoxicology, 11(4), 367, 2014.

17. Luciana et al. Rose Bengal Acetate photodynamic therapy-induced autophagy. Cancer Biology & Therapy, 10:10, 1048, 2010.

Trademarks

PV-10^® and PH-10^® are registered trademarks of Provectus, Knoxville, Tennessee, U.S.A.

FORWARD-LOOKING STATEMENTS:

The information in this press release may include “forward-looking statements,” within the meaning of U.S. securities legislation, relating to the business of Provectus and its affiliates, which are based on the opinions and estimates of Company management and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek,” “anticipate,” “budget,” “plan,” “continue,” “estimate,” “expect,” “forecast,” “may,” “will,” “project,” “predict,” “potential,” “targeting,” “intend,” “could,” “might,” “should,” “believe,” and similar words suggesting future outcomes or statements regarding an outlook.

The safety and efficacy of the agents and/or uses under investigation have not been established. There is no guarantee that the agents will receive health authority approval or become commercially available in any country for the uses being investigated or that such agents as products will achieve any particular revenue levels.

Due to the risks, uncertainties, and assumptions inherent in forward-looking statements, readers should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof or as of the date specifically specified herein, and Provectus undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The forward-looking statements are expressly qualified by this cautionary statement.

Risks, uncertainties, and assumptions include those discussed in the Company’s filings with the SEC, including those described in


Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2019


and


Provectus’ Quarterly Report on Form 10-Q for the quarter ended September 30, 2020


.

###

Contact:

Provectus Biopharmaceuticals, Inc.
Heather Raines, CPA
Chief Financial Officer
Phone: (866) 594-5999

VANCOUVER, British Columbia, Nov. 16, 2020 (GLOBE NEWSWIRE) — K92 Mining Inc. (“K92” or the “Company”) (TSX-V: KNT; OTCQX: KNTNF) is pleased to announce results from its interim financial statements for the three and nine months ended September 30, 2020.

Third Quarter 2020 Highlights:

Safety

• Strong safety record continues, with no lost time injuries and one of the best safety records in the Australasia region since start of operations.
• Proactive and focused management of COVID-19. K92 continues to operate and has strong preventative and response plans.

Production

• Record tonnage of 64,702 tonnes treated, a 102% increase from Q3 2019.
• Quarterly production of 22,261 oz gold equivalent (“AuEq”) oz, comprising 21,298 oz of gold, 488,020 lbs copper and 7,127 oz silver.
• Cash costs of US$695/oz gold and all-in sustaining costs (“AISC”) of US$834/oz gold⁽²⁾.
• Long hole stoping at the K1 and K2 Veins has continued to perform to design and has provided a notable positive impact on operational flexibility.

Financials

• Sold 19,265 oz of gold, 487,087 lbs of copper and 7,166 oz of silver. Gold concentrate inventories of 5,859 oz as of September 30, 2020, a quarterly increase of 2,420 oz.
• Quarterly revenue of US$35.6 million, a 70% increase from Q3 2019.
• Operating cash flow (before working capital adjustments) of US$14.8 million or US$0.07 per share and earnings before interest, taxes, depreciation and amortization (“EBITDA”) of US$17.4 million or US$0.08 per share.
• Net income of US$9.4 million or US$0.04 per share.
• Balance sheet significantly strengthened during Q3, with cash increasing by US$6.5 million to US$41.2 million and debt decreasing by US$2.1 million to US$7.0 million as at September 30, 2020.

Growth

• Successful commissioning of the Stage 2 Plant Expansion to double throughput capacity to 400,000 tonnes per year and continued development of the twin incline following the lifting of the State of Emergency in June.
• Stage 3 Expansion Preliminary Economic Assessment announced on July 27, 2020, outlining a potential Tier 1 asset, with ~318,000 ounces per annum AuEq run-rate production at a life of mine average AISC cost of $362 per gold ounce net of by-product credits. At $1,500/oz gold, $18/oz silver and $3.00/lb copper prices, the estimate after-tax NPV5% is US$1.5 billion and is fully funded from mine cash flow. At US$1,900/oz gold prices the estimated after-tax NPV5% is US$2.0 billion.
• Preliminary results reported from underground development on the Judd Vein #1 (“J1”), marking the first significant exploration undertaken by K92 on the near-mine infrastructure, underexplored, +2.5km strike vein system. A Phase 1 underground drill program commenced during the quarter after reporting the preliminary results.
• Drill rigs increased to 9 at the end of the quarter and is expected to increase to 10 by year end, with plans to drill Kora, Kora South, Karempe and Judd epithermal vein systems plus the Blue Lake porphyry concurrently by year end.

For complete details of the interim consolidated financial statements and associated management’s discussion and analysis, please refer to the Company’s website or profile on SEDAR (www.sedar.com).  All amounts are in U.S. dollars unless otherwise indicated.

John Lewins, K92 Chief Executive Officer and Director, stated, “The third quarter achieved multiple important milestones in terms of both production and exploration. On production, the completion of the Stage 2 Plant Expansion commissioning represents a major step-change for Kainantu’s production capabilities, doubling mill throughput from 200,000 tpa (~550 tpd) to 400,000 tpa (~1,100 tpd). Since completing commissioning, the operation has performed well, and we expect a strong finish to 2020.

On exploration, the number of drill rigs has increased to nine and our tenth drill rig is expected to arrive by year end. The increase in drill rigs has not only provided a considerable boost to our drilling rates, but more importantly, our capacity to drill multiple targets concurrently. In late October, we announced our maiden drilling results on the Karempe Vein system, intersecting five sub-parallel veins and multiple high grade intersections including KRDD0005 recording 2.45 m at 39.82 g/t Au, 6 g/t Ag and 0.19% Cu (40.18 g/t AuEq, 2.30 m true width) on the KA1 Vein (see October 22, 2020 Press Release). Last week, we announced our first set of drilling results from our Phase 1 drill program at Judd, intersecting three sub-parallel veins systems including JDD0006 recording 7.25 m at 256.09 g/t Au, 113 g/t Ag and 0.42 % Cu (258.01 g/t AuEq, 5.30m true width) on the J1 vein (see November 9, 2020 Press Release). Both Karempe and Judd recorded mineralization similar to Kora. We have also recently commenced porphyry exploration, with the Phase 2 drill program at the Blue Lake porphyry now underway. Plans to add additional drill rigs are in progress for 2021, with an eleventh drill rig already scheduled to arrive in Q1.

Lastly, we would like to thank the extraordinary commitment of our workforce during the COVID-19 pandemic. The amount of progress achieved year to date has been outstanding. The support of all levels of government has also been a major factor.”

Mine Operating Activities
	Three months ended	Three months ended
	September 30, 2020	September 30, 2019
Operating data
Head grade (Au g/t)	11.3	19.2
Gold recovery (%)	90.7%	94.1%
Gold ounces produced	21,298	18,636
Gold ounces equivalent produced (1)	22,261	19,170
Tonnes of copper produced	221	95
Silver ounces produced	7,127	5,284
Financial data (in thousands of dollars)
Gold ounces sold	19,265	15,652
Revenues from concentrate sales	US$35,605	US$20,989
Mine operating expenses	US$8,068	US$4,283
Other mine expenses	US$5,113	US$5,387
Depreciation and depletion	US$2,702	US$2,569
Statistics (in dollars)
Average realized selling price per ounce, net	US$1,815	US$1,409
Cash cost per ounce	US$695	US$649
All-in sustaining cost per ounce	US$834	US$800

Notes:

(1) Gold equivalent for 2020 based on the following prices: gold $1,500 per ounce; silver $17.75 per ounce; and copper $2.70 per pound.  Gold equivalent for 2019 based on the following metal prices: gold $1,300 per ounce; silver $16.50 per ounce; and copper $2.90 per pound.

(2) The Company provides some non-international financial reporting standard measures as supplementary information that management believes may be useful to investors to explain the Company’s financial results.  Please refer to non-IFRS financial performance measures in the Company’s management’s discussion and analysis dated November 12, 2020, available on SEDAR or the Company’s website, for reconciliation of these measures.

K92 has not based its production decisions on mineral reserve estimates or feasibility studies, and historically such projects have increased uncertainty and risk of failure.  Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Conference Call Information

K92 will host a conference call and webcast to present the 2020 Q3 Financial Results at 8:30 am (EST) on Monday, November 16, 2020.

• Listeners may access the conference call by dialing toll-free to 1-800-319-4610 within North America or +1-604-638-5340 from international locations.
  ° The conference call will also be broadcast live (webcast) and may be accessed via the following link: http://services.choruscall.ca/links/k92mining20201116.html

Qualified Person

K92 Mine Geology Manager and Mine Exploration Manager, Mr. Andrew Kohler, PGeo, a Qualified Person under the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects has reviewed and approved the technical content of this news release.

On Behalf of the Company,

John Lewins, Chief Executive Officer and Director

For further information, please contact David Medilek, P.Eng., CFA at +1-604-687-7130.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events, or developments that the Company believes, expects or anticipates will or may occur are forward-looking information, including statements regarding the realization of the preliminary economic analysis for the Kainantu Project, expectations of future cash flows, the planned plant expansion, production results, cost of sales, sales of production, potential expansion of resources and the generation of further drilling results which may or may not occur. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the market price of the Company’s securities, metal prices, exchange rates, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, assumptions contained in the PEA, environmental risks, title disputes, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, claims and limitations on insurance coverage and other risks of the mining industry, changes in national and local government regulation of mining operations in PNG, mitigation of the Covid-19 pandemic, continuation of the lifted state of emergency, and regulations and other matters. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. 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, except as required by law.