GSRX Industries Inc. Files Pre-Qualification Request for New Medicinal Cannabis Dispensary in Puerto Rico

DORADO, Puerto Rico, Aug. 20, 2018 (GLOBE NEWSWIRE) — GSRX Industries Inc. (OTCQB: GSRX) (“GSRX” or, the “Company”), through its wholly-owned subsidiary, Project 1493 LLC, has filed for pre-qualification of a dispensary license for a new Green Spirit RX medicinal cannabis dispensary in Puerto Rico.  If granted pre-qualification, this would bring the total number of GSRX medicinal cannabis dispensaries there to nine, upon receipt of the requisite establishment licenses from the Department of Health of Puerto Rico.

The new pre-qualification application is for a location at Urbanización Muñoz Rivera, Calle Acuarela C-15 (local A), Guaynabo, Puerto Rico, 00969. Guaynabo is located on Puerto Rico’s northern coast, west of San Juan, and is considered part of the San Juan metropolitan area. Guaynabo is the host city for a number of Puerto Rico’s annual festivals, including Three Reyes Festival in January and Mabó Carnival in March. Approximately 100,000 people reside throughout Guaynabo’s ten wards, and it is home to the three-level enclosed shopping mall San Patricio Plaza, which boasts more than 120 shops.

GSRX currently operates Green Spirit RX medicinal cannabis dispensaries in Dorado, Carolina and the Hato Rey neighborhood of San Juan.  In addition to Guaynabo, the Company has five more locations that are currently under construction or near completion in Puerto Rico, located in Isla Verde, San Juan, Fajardo, Old San Juan and Bayamón. The Company also owns and operates The Green Room, a cannabis dispensary in Point Arena, California.  GSRX recently received pre-qualification and preliminary approval for a medicinal cannabis manufacturing license (Manufacturing) and a medicinal cannabis transportation license (Transportation), the latter of which will allow the Company to transport and deliver cannabis between Green Spirit RX dispensaries and patients’ homes in Puerto Rico.

About GSRX Industries Inc.
GSRX Industries Inc. (OTCQB: GSRX), through its subsidiaries, is in the business of acquiring, developing and operating retail cannabis dispensaries, and is in the process of expanding its business to include the cultivation, extraction, manufacture and delivery of cannabis and cannabinoid products. To date, GSRX has acquired and operates four cannabis dispensaries in California and Puerto Rico.

Follow us on Instagram:
Green Spirit RX (Puerto Rico) https://www.instagram.com/greenspiritrx/
Spirulinex https://www.instagram.com/spirulinex/
Sunset Connect https://www.instagram.com/explore/tags/sunsetconnect/
Green Spirit Essentials https://www.instagram.com/explore/tags/greenspiritessentials/
The Green Room https://www.instagram.com/explore/locations/504270803090625/the-green-room/

Follow us on Facebook:
Green Spirit RX (Puerto Rico) https://www.facebook.com/GreenSpiritRx/
Spirulinex https://www.facebook.com/spirulinex/
The Green Room https://www.facebook.com/greenroommendo/

Forward-Looking Statements 
This press release contains forward-looking statements. Such statements include statements regarding our expectations, hopes, beliefs or intentions regarding the future, including but not limited to statements regarding our market, strategy, competition, development plans (including acquisitions and expansion), financing, revenues, operations, and compliance with applicable laws. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. Factors that could cause actual results to differ materially from such forward-looking statements include the risks described in greater detail in the following paragraphs. All forward-looking statements in this document are made as of the date hereof, based on information available to us as of the date hereof, and we assume no obligation to update any forward-looking statement except where applicable law requires us to update these statements. Market data used throughout this prospectus is based on published third party reports or the good faith estimates of management, which estimates are based upon their review of internal surveys, independent industry publications and other publicly available information.

Contact:                                 
Paul Gendreau
PGPR
paul@pgprmedia.com
678-807-7945

http://globenewswire.com/news-release/2018/08/20/1553846/0/en/GSRX-Industries-Inc-Files-Pre-Qualification-Request-for-New-Medicinal-Cannabis-Dispensary-in-Puerto-Rico.html

NATIONAL ENERGY SERVICES REUNITED CORP. REPORTS SECOND QUARTER 2018 RESULTS

HOUSTON, Aug. 20, 2018 (GLOBE NEWSWIRE) — National Energy Services Reunited Corp. (“NESR”) (NASDAQ: NESR) (NASDAQ: NESRW), a national, industry-leading provider of integrated energy services in the Middle East and North Africa (“MENA”) region, today reported results for the second quarter ended June 30, 2018.

Operating and Financial Highlights

  Successfully completed the business combination with National Petroleum Services (“NPS”) and Gulf Energy Services (“GES”) on June 6, 2018.
     
  As described below, the reporting is in a Predecessor/Successor format whereby NPS standalone is the Predecessor for periods prior to the completion of the business combination transaction and NESR, including NPS and GES, is the Successor for post-transaction periods.
     
  Revenue growth particularly strong for Predecessor (NPS) in the second quarter of 2018, represented through sequential growth of 21% over the first quarter of 2018, 36% over the same period in 2017, and 38% for the year to date period ending June 30, 2018 as compared to prior year.
     
  Awarded new contracts worth $360 million in the second quarter of 2018.
     
  Year to date Successor and Predecessor period through June 30, 2018 reflects net income of $2.8 million as per U.S. GAAP, inclusive of intangible amortization and transaction costs, and Adjusted EBITDA (see reconciliation below) of $66 million for the combined entities.
     
  Integration activities are on track and are anticipated to yield significant incremental revenue synergies across all subsidiaries in the second half of 2018.

“We are excited to report earnings for the first time as a combined, fully operational oil and gas services company,” said Sherif Foda, Chairman of the Board and CEO of NESR. “We combined two exceptional service companies to form the first and only listed national services provider in the MENA region. I would like to thank our employees for all of their hard work during this transition and for their passion and support as we make NESR a world-class services company.”

Mr. Foda continued, “We are proud to be the largest regionally-focused OFS player, and we believe there are many opportunities to grow over the coming years due to a special set of competitive strengths. We are a comprehensive integrated service provider with unique exposure to the high-growth MENA region. Our customer base is strong and comprised of both national and international players. We have a track record of solid growth, both organically and through acquisitions and we have a motivated and proven management team that is committed to growing our business and creating shareholder value. Post combination, NESR has already signed new contracts moving us toward our vision for significant growth and presence in the region.”

Predecessor/Successor Accounting Treatment

The quarterly information included in the 6-K filed today includes accounting treatment for the combination designating the NPS subsidiary as Predecessor accounting entity and a combined Successor accounting entity beginning June 7th. The one month of successor company results totaled a loss of $4.0 million which was influenced by transaction costs triggered at the time of combination as well as monthly amortization associated with our customer intangible. These two items had an impact on net income of $8.8 million. The NPS predecessor accounting period includes net income of $6.7 million through May of 2018. Due to the unique accounting treatment involved, neither the NESR parent company nor the GES results of operations for April and May 2018 are reflected in the statement of operations.

Production Services Segment Results

Production Services contributed $76.6 million to consolidated revenue for the combined 2018 Successor second quarter period and 2018 Predecessor second quarter period, an increase of $18.1 million from $58.5 million for the 2017 Predecessor second quarter. This increase was due primarily to higher coiled tubing activity in Saudi, Qatar, Iraq, and the United Arab Emirates as well as the results of combined company activity in the Successor period. See “Business Combination Accounting and Presentation of Results of Operations” section below for additional information on current reporting conventions.

    Successor (NESR)     Predecessor (NPS)  
    2018     2018     2017  
    June 7, 2018 To
June 30, 2018
    April 1 To June 6     January 1 To June 6     April 1 To June 30     January 1 To June 30  
Revenue   $ 28,602     $ 48,032     $ 112,295     $ 58,545     $ 105,329  
Segment EBITDA   $ 8,770     $ 15,112     $ 36,836     $ 20,864     $ 37,211  

Drilling and Evaluation Services Segment Results

Drilling and Evaluation Services contributed $28.5 million to consolidated revenue for the combined 2018 Successor second quarter period and 2018 Predecessor second quarter period, an increase of $18.5 million from $10.0 million for the 2017 Predecessor second quarter. Apart from the impact of the GES acquisition, this increase was primarily driven by increased well testing in Saudi and Iraq, further enhanced by an increase in logging and well testing activity in Saudi Arabia.

    Successor (NESR)     Predecessor (NPS)  
    2018     2018     2017  
    June 7, 2018 To
June 30, 2018
    April 1 To June 6     January 1 To June 6     April 1 To June 30     January 1 To June 30  
Revenue   $ 16,384     $ 12,153     $ 24,732     $ 10,044     $ 17,999  
Segment EBITDA   $ 1,275     $ 1,217     $ 3,267     $ 1,602     $ 1,659  

Net Income and Consolidated Adjusted EBITDA Results

The company had Successor period net income for the month of June totaling a loss of $4.0 million including transaction costs as a result of the combination. Predecessor net income for the first five months of the year was $6.7 million and Predecessor net income was $1.3 million for the periods of April and May pre-business combination. Net income presented includes the effect of transaction and integration costs incurred during those periods. On a combined basis, the Company had adjusted EBITDA of $65.8 million for the 2018 year to date period compared to $62.9 million for the same 2017 period. Adjustments to EBITDA include transaction and integration costs of $23 million for the 2018 year to date period.

Balance Sheet

Cash and cash equivalents were $36.9 million as of June 30, 2018 (Successor), compared to $27.5 million as of December 31, 2017 (Predecessor). The Company had $305.7 million in debt as of June 30, 2018 including a $50 million convertible loan facility with an implied conversion price of 11.244 per share. During July, a refinancing of the bridge loan facility in place on June 30, 2018 was completed and also entered into a new facility for $50 million of which $25 million has been drawn to date and the remaining $25 million is available.

About National Energy Services Reunited Corp.

NESR is one of the largest oil and gas services providers in the MENA region. NESR began as a special purpose acquisition corporation, or SPAC, focused on investing in global oil & gas services space in May 2017. In November 2017, NESR announced the acquisition of two of the most prominent oilfield services companies in the MENA region: GES and NPS. These transactions and the formation of NESR as an operating entity were completed in June 2018.

Business Combination Accounting and Presentation of Results of Operations

As a result of the Business Combination, NESR was determined to be the accounting acquirer and NPS was determined to be the predecessor for SEC reporting purposes. Pursuant to Accounting Standard Codification (“ASC”) 805, Business Combinations (“ASC 805”), a preliminary assessment was made as of the acquisition-date fair value of the purchase consideration paid by NESR to effect the Business Combination was allocated to the assets acquired and the liabilities assumed based on their estimated fair values. As a result of the application of the acquisition method of accounting resulting from the Business Combination, the financial statements and certain footnote presentations separate our presentations into two distinct sets of reporting periods, the periods before the consummation of the transaction (“Predecessor Periods”) and the period after that date (“Successor Period”), to indicate the application of the different basis of accounting between the periods presented. The Predecessor Periods reflect the historical financial information of NPS prior to the Business Combination, while the Successor Period reflects our consolidated financial information, including the results of NPS and GES, after the Business Combination. The Successor Period is from June 7, 2018 to June 30, 2018 and the Predecessor Periods are from April 1, 2018 to June 6, 2018, for the three months ended June 30, 2017, January 1, 2018 to June 6, 2018 and for the six months ended June 30, 2017.

Note

This communication includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, among others, statements about the benefits and synergies of the recently completed business combination transaction. These forward-looking statements are based on information available as of the date of this communication, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing NESR’s views as of any subsequent date, and NESR does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, NESR’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include NESR’s ability to recognize the anticipated benefits of the transaction, which may be affected by, among other things, competition and the ability of NESR to grow and manage growth profitably following the transaction; changes in applicable laws or regulations; the possibility that NESR may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties indicated in NESR’s public filings with the Securities and Exchange Commission.

NATIONAL ENERGY SERVICES REUNITED CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)

    Successor (NESR)     Predecessor (NPS)  
    June 30, 2018     December 31, 2017  
Assets                
Current assets                
Cash and cash equivalents     36,901       27,545  
Accounts receivable     86,764       58,174  
Unbilled revenue     94,195       24,167  
Inventories     63,503       32,313  
Other current assets     32,957       19,656  
Total current assets     314,320       161,855  
                 
Property, plant and equipment     324,379       264,269  
Intangible assets     176,474       10  
Goodwill     475,663       182,053  
Other assets     10,021       11,385  
Total assets   $ 1,300,857     $ 619,572  
                 
Liabilities and equity                
Accounts payable     75,244       25,132  
Accrued expenses     62,922       23,324  
Current portion of loans and borrowings     16,368        
Short-term borrowings     118,411       8,773  
Other current liabilities     39,909       5,228  
Total current liabilities     312,854       62,457  
                 
Loans and borrowings     170,890       147,024  
Other liabilities     25,095       20,662  
Total liabilities     508,839       230,143  
                 
Commitments                
Equity                
                 
Successor preferred shares, no par value; unlimited shares authorized; none issued and outstanding            
Predecessor common stock, par value $1; 370,000,000 shares authorized; 342,250,000 shares issued and outstanding at December 31, 2017           342,250  
Successor common stock, no par value; unlimited shares authorized; 85,562,769 shares issued and outstanding at June 30, 2018     801,545        
Predecessor convertible redeemable shares           27,750  
Additional paid in capital           3,345  
Retained earnings (accumulated deficit)     (7,362 )     18,480  
Accumulated other comprehensive (loss) income           (436 )
Total shareholders’ equity     794,183       391,389  
Non-controlling interests     (2,165 )     (1,960 )
Total equity     792,018       389,429  
Total liabilities and equity   $ 1,300,857     $ 619,572  

The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.

NATIONAL ENERGY SERVICES REUNITED CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)
(In thousands, except share data)

    Successor (NESR)     Predecessor (NPS)  
    2018     2018     2017  
    Period from
June 7 to
June 30, 2018
    Period from
April 1 to
June 6
    Period from
January 1 to
June 6
    Period from
April 1 to
June 30
    Period from
January 1 to
June 30
 
Revenues     44,986       60,185       137,027       68,589       123,328  
Cost of product and services     (37,055 )     (46,070 )     (104,242 )     (50,418 )     (92,171 )
Gross profit     7,931       14,115       32,785       18,171       31,157  
Selling, general and administrative expense     (9,021 )     (10,469 )     (19,969 )     (7,642 )     (15,338 )
Amortization     (1,536 )     (10 )     (10 )     (73 )     (146 )
Operating income (loss)     (2,626 )     3,636       12,806       10,456       15,673  
Interest expense, net     (1,900 )     (1,265 )     (4,090 )     (1,700 )     (3,273 )
Other (expense) income, net     (468 )     271       362       (297 )     (188 )
Income (loss) before income taxes     (4,994 )     2,642       9,078       8,459       12,212  
Income taxes     1,029       (1,359 )     (2,342 )     (1,043 )     (1,954 )
Net income (loss)     (3,965 )     1,283       6,736       7,416       10,258  
Net income (loss) attributable to non-controlling interests     (219 )     (541 )     (881 )     (640 )     (1,213 )
Net income (loss) attributable to shareholders     (3,746 )     1,824       7,617       8,056       11,471  
                                         
Weighted average shares outstanding                                        
Basic     85,562,769       348,524,566       348,524,566       342,250,000       342,250,000  
Diluted     85,562,769       370,000,000       370,000,000       370,000,000       370,000,000  
                                         
Net earnings (loss) per share                                        
Basic     (0.05 )     0.00       0.02       0.02       0.03  
Diluted     (0.05 )     0.00       0.02       0.02       0.03  

The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.

NATIONAL ENERGY SERVICES REUNITED CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Unaudited)
(In thousands)

    Successor (NESR)     Predecessor (NPS)  
    2018     2018     2017  
    Period from
June 7 to
June 30, 2018
    Period from April 1 to June 6     Period from January 1 to June 6     Period from April 1 to June 30     Period from January 1 to June 30  
Net income (loss)     (3,965 )     1,283       6,736       7,416       10,258  
                                         
Other comprehensive income (loss), net of taxes:                                        
Foreign currency translation adjustments           (17 )     (16 )     (26 )     (26 )
Other comprehensive earnings (loss)     (3,965 )     1,266       6,720       7,390       10,232  
                                         
Total comprehensive earnings (loss)     (3,965 )     1,266       6,720       7,390       10,232  

The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.

NATIONAL ENERGY SERVICES REUNITED CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS SHAREHOLDERS’ EQUITY
(In thousands, except share data)

Predecessor (NPS)   Shares Outstanding     Common Stock     Redeemable Convertible Shares Outstanding     Redeemable Convertible Shares     Additional Paid In Capital     Accumulated Other Comprehensive Income (Loss)     Retained Earnings (Accumulated Deficit)     Total
Company Stockholders’ Equity
    Non-
controlling Interests
    Total Stockholders’
Equity
 
Balance at January 1, 2018     342,250,000     $ 342,250       27,750,000     $ 27,750     $ 3,345     $ (436 )   $ 18,480     $ 391,389     $ (1,960 )   $ 389,429  
Net income (loss)                                                     7,617       7,617       (881 )     6,736  
Foreign currency translation adjustments                                             (16 )             (16 )             (16 )
Conversion of redeemable shares     6,274,566       6,275       (6,274,566 )     (6,275 )                              –                –  
Dividends paid                                                     (48,210 )     (48,210 )             (48,210 )
Amount of provision for Zakat                                                     (766 )     (766 )             (766 )
Balance at June 6, 2018     348,524,566     $ 348,525       21,475,434     $ 21,475     $ 3,345     $ (452 )   $ (22,879 )   $ 350,014     $ (2,841 )   $ 347,173  
    Ordinary Shares     Redeemable Convertible Shares     Additional Paid In     Accumulated Other Comprehensive     Retained Earnings (Accumulated     Total Shareholders’     Non-
controlling
    Total  
Successor (NESR)   Shares     Amount     Outstanding     Capital     Income (Loss)     Deficit)     Equity     Interests     Equity  
Balance at June 7, 2018     11,730,425     $ 56,602                             $ (4,611 )   $ 51,991             $ 51,991  
Reclassification of shares previously subject to redemption     16,921,700       165,188                                       165,188               165,188  
Redeemed shares     (1,916,511 )     (19,380 )                                     (19,380 )             (19,380 )
Shares issued to acquire NPS     25,077,277       255,537                                       255,537               255,537  
Shares issued to acquire GES     28,346,229       288,848                                       288,848               288,848  
Shares issued to related party for loan fee and transaction costs     266,809       2,719                                       2,719               2,719  
Shares issued to Backstop Investor     4,829,375       48,294                                       48,294               48,294  
Shares issued for IPO underwriting fees     307,465       3,737                                       3,737               3,737  
Non-controlling interest                                                           (951 )     (951 )
Acquisition of non-controlling interest during the period                                             995       995       (995 )      
Net Income (loss) through June 30, 2018                                             (3,746 )     (3,746 )     (219 )     (3,965 )
Balance at June 30, 2018     85,562,769     $ 801,545     $     $     $     $ (7,362 )   $ 794,183     $ (2,165 )   $ 792,018  

The accompanying notes are an integral part of the condensed consolidated interim financial statements.

NATIONAL ENERGY SERVICES REUNITED CORP. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)

    Successor (NESR)     Predecessor
(NPS)
 
    Period from
June 7 to
June 30, 2018
    Period from January 1 to
June 6, 2018
    Period from January 1 to
June 30, 2017
 
Cash flows from operating activities:                        
Net income (loss)     (3,965 )     6,736       10,258  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:                        
Depreciation and amortization     6,460       17,284       18,570  
Shares issued for transaction costs     2,175              
Gain (loss) on disposal of assets, net     (281 )           (73 )
Allowance for doubtful accounts           2,402       83  
Accrued interest     1,899       3,350       3,273  
Other, net     603       1,442       887  
Changes in operating assets and liabilities:                        
(Increase) decrease in accounts receivable     801       (15 )     (6,430 )
(Increase) decrease in inventories     (35 )     (2,080 )     (3,268 )
(Increase) decrease in prepaid expenses     462       (759 )     (903 )
(Increase) decrease in other current assets and unbilled revenue     (8,387 )     (16,257 )     3,590  
Increase) decrease in other long term assets     2,039       (544 )     (6,875 )
(Decrease) increase accounts payable and accrued liabilities     13,397       7,335       3,748  
Increase (decrease) in other current liabilities     (844 )     1,932       1,397  
Net cash provided by operating activities     14,324       20,826       24,257  
                         
Cash flows from investing activities:                        
Proceeds from the Company’s Trust account     231,782              
Capital expenditures     (2,157 )     (9,861 )     (20,192 )
Acquisition of business, net of cash acquired     (282,190 )     (1,098 )     (625 )
Other investing activities     330             73  
Net cash used in investing activities     (52,235 )     (10,959 )     (20,744 )
                         
Cash flows from financing activities:                        
Redemption of ordinary shares     (19,380 )            
Proceeds from issuance of shares     48,294              
Proceeds from borrowings           47,063        
Payment of deferred underwriting fees     (5,333 )     (164 )     (2,885 )
Proceeds from lines of credit and other debt     50,000             923  
Dividend paid           (48,210 )      
Other financing activities, net     1,185       (4,429 )     (1,240 )
Net cash provided by (used in) financing activities     74,766       (5,740 )     (3,202 )
                         
Effect of exchange rate changes on cash           (16 )     (26 )
Net increase in cash     36,855       4,111       285  
Cash, beginning of period     46       27,545       25,534  
Cash, end of period     36,901       31,656       25,819  
Supplemental disclosures of cash flow information                        
Cash payments during the year:                        
Interest     143       3,636       3,090  
Income taxes     3,061       345       482  

NATIONAL ENERGY SERVICES REUNITED CORP. AND SUBSIDIARIES
RECONCILIATION OF ADJUSTED EBITDA TO NET INCOME
(Unaudited)
(In thousands)

The Company uses and presents certain key non-GAAP financial measures to evaluate its business and trends, measure performance, prepare financial projections and make strategic decisions. Included in this earnings release are discussions of earnings before interest, income tax and depreciation and amortization adjusted for certain non-recurring and non-core expenses (“Adjusted EBITDA”), as well a reconciliation of this non-GAAP measure to net income in accordance with U.S. GAAP.

The Company believes that the presentation of Adjusted EBITDA provides useful information to investors in assessing its financial performance and results of operations as the Company’s board of directors, management and investors use Adjusted EBITDA to compare the Company’s operating performance on a consistent basis across periods by removing the effects of changes in capital structure (such as varying levels of interest expense), asset base (such as depreciation and amortization and impairment), items that do not impact the ongoing operations (Business Combination transaction expenses and related integration costs) and items outside the control of its management team. Adjusted EBITDA should not be considered as an alternative to net income, the most directly comparable GAAP financial measure. Non-GAAP financial measures have important limitations as analytical tools because they exclude some but not all items that affect the most directly comparable GAAP financial measure. You should not consider non-GAAP measures in isolation or as a substitute for an analysis of the Company’s results as reported under U.S. GAAP.

    Successor (NESR)     Predecessor (NPS)     NESR and GES     Combined  
    June 7, 2018 to June 30, 2018     January 1 To June 6, 2018     January 1 To June 6, 2018     YTD January 1 To June 30, 2018  
Net Income (loss)     (3,965 )     6,736       (2,191 )     580  
Add:                              
Income Taxes     (1,029 )     2,342       1,363       2,676  
Interest Expense, net     1,900       4,090       1,106       7,096  
Depreciation and Amortization     6,460       17,284       8,791       32,535  
Transaction and Integration Costs     7,832       8,333       6,894       23,059  
Total Adjusted EBITDA     11,198       38,785       15,963       65,946  

Conference Call Information

NESR will host a conference call on Monday, August 20, 2018, to discuss the second quarter 2018 financial results. The call will begin at 8:00 AM Central Time (9:00 AM Eastern Time).

Investors, analysts and members of the media interested in listening to the call are encouraged to participate by dialing into the toll-free line at 1-888-204-4368 or the international line at 1-323-994-2082. A live, listen-only webcast will also be available in the investors section of www.nesr.com. To hear a replay of the call, please dial into the toll-free line at 1-844-512-2921 or the international line at 1-412-317-6671 and enter pin number 2303276.

For inquiries regarding NESR, please contact: Dhiraj Dudeja
NESR Corp.
832-925-3777
info@nesrco.com or  Joseph Caminiti or Steve Calk
Alpha IR Group
312-445-2870
NESR@alpha-ir.com

http://globenewswire.com/news-release/2018/08/20/1553842/0/en/NATIONAL-ENERGY-SERVICES-REUNITED-CORP-REPORTS-SECOND-QUARTER-2018-RESULTS.html

Horizonte Minerals Plc (‘Horizonte’ or ‘the Company’) Director/PDMR Dealing

LONDON, Aug. 20, 2018 (GLOBE NEWSWIRE) — Horizonte Minerals Plc, (AIM/TSX: HZM) announces that on 17 August 2018, Allan Walker, Non-Executive Director of the Company, purchased 205,479 ordinary shares of 1p each in the capital of the Company (“Ordinary Shares”) at a price of 3.65p per Ordinary Share (the “Purchase”). Following the Purchase, Mr. Walker is now interested in 705,479 Ordinary Shares representing 0.05% of the total voting rights of the Company.

1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Allan Walker    
     
2 Reason for the notification
a) Position/status Non-Executive Director    
     
b) Initial notification/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Horizonte Minerals plc
b) LEI 213800OEYYR39UNYQY91
4 Details of the transaction(s): section to be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary Shares of 1p each in Horizonte Minerals plc
   
Identification code ISIN: GB00B11DNM70
   
b) Nature of the transaction Share Purchase
  Price(s) and volume(s)  
Price(s)   Volume(s)                                 
3.65p   205,479
d) Aggregated information      
         
–  Aggregate volume 205,479 Ordinary Shares purchased at   
     
–  Price 3.65p per Ordinary Share  
e) Date of the transaction 17-Aug-18    
f) Place of the transaction London Stock Exchange, AIM     

* * ENDS * *

 For further information visit www.horizonteminerals.com or contact:

Horizonte Minerals plc  
Jeremy Martin (CEO) +44 (0) 20 7763 7157
   
Numis Securities Ltd (NOMAD & Joint Broker)  
John Prior / Paul Gillam +44 (0) 207 260 1000
   
Shard Capital (Joint Broker)  
Damon Heath / Erik Woolgar +44 (0) 20 7186 9952
   
   
Tavistock (Financial PR)  
Jos Simson / Gareth Tredway / Barney Hayward +44 (0) 20 7920 3150

About Horizonte Minerals:

Horizonte Minerals plc is an AIM and TSX-listed nickel development focused in Brazil. The Company is developing the Araguaia Project as the next major ferronickel mine in Brazil. With the Vermelho nickel-cobalt project being advanced with the aim of being able to supply nickel and cobalt to the EV battery market. Both projects are 100% owned.

Horizonte shareholders include; Teck Resources Limited, Canaccord Genuity Group, JP Morgan, Lombard Odier Asset Management (Europe) Limited, City Financial, Richard Griffiths and Glencore.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, the ability of the Company to complete the Acquisition as described herein, statements with respect to the potential of the Company’s current or future property mineral projects; the success of exploration and mining activities; cost and timing of future exploration, production and development; the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; the ability of the Company to complete the Placing as described herein, and the realization of mineral resource and reserve estimates. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: the inability of the Company to complete the Acquisition as described herein, exploration and mining risks, competition from competitors with greater capital; the Company’s lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company’s future payment obligations; potential disputes with respect to the Company’s title to, and the area of, its mining concessions; the Company’s dependence on its ability to obtain sufficient financing in the future; the Company’s dependence on its relationships with third parties; the Company’s joint ventures; the potential of currency fluctuations and political or economic instability  in countries in which the Company operates; currency exchange fluctuations; the Company’s ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company’s plans to continue to develop its operations and new projects; the Company’s dependence on key personnel; possible conflicts of interest of directors and officers of the Company, the inability of the Company to complete the Placing on the terms as described herein, and various risks associated with the legal and regulatory framework within which the Company operates. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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.

http://globenewswire.com/news-release/2018/08/20/1553840/0/en/Horizonte-Minerals-Plc-Horizonte-or-the-Company-Director-PDMR-Dealing.html

GASLOG LTD. ANNOUNCES TWO NEW LONG-TERM CHARTERS WITH CHENIERE AND PLACES NEWBUILDING ORDERS AT SAMSUNG HEAVY INDUSTRIES

Monaco, Aug. 20, 2018 (GLOBE NEWSWIRE) — GasLog Ltd. (“GasLog”) (NYSE:GLOG) is pleased to announce the signing of two new charter party agreements (the “Charters”), each for a firm period of seven years, with a wholly owned subsidiary of Cheniere Energy, Inc. (“Cheniere”).

To fulfil the Charters, two 174,000 cubic meter LNG carriers (HN 2300 and HN 2301) with low pressure two stroke (“LP-2S”) propulsion have been ordered from Samsung Heavy Industries in South Korea, with expected delivery in late 2020.

The rate of hire for the Charters is broadly in line with mid-cycle rates and delivers returns in line with GasLog’s financial strategy.

In addition to the Charters, GasLog has agreed with Cheniere an option for the charter of one or two additional newbuild vessels.

GasLog Partners LP (“GasLog Partners”, NYSE:GLOP) has the right to acquire the vessels delivered into the Charters pursuant to the omnibus agreement between GasLog and GasLog Partners. As a result, GasLog Partners’ potential dropdown pipeline will increase to 11 LNG carriers with charter length of five years or longer.

Paul Wogan, Chief Executive Officer of GasLog, stated, “I am delighted to announce a significant expansion of our relationship with Cheniere, a high-quality counterparty and a leader in developing the US LNG export industry. Cheniere’s decision to partner with GasLog is a vote of confidence in our ability to deliver a differentiated service to our customers, founded upon our core principles of operational excellence and an uncompromising approach to safety.

We continue to expand our fleet with highly competitive vessels backed by long term contracts, while simultaneously diversifying our customer base. We anticipate further incremental shipping capacity will be needed to supply forecast LNG demand growth, and remain confident in our ability to increase our market share at attractive returns.”

Contacts:

Alastair Maxwell
Chief Financial Officer
Phone: +44 203-388-3105

Phil Corbett
Head of Investor Relations
Phone: +44 203-388-3116

Joseph Nelson
Deputy Head of Investor Relations
Phone: +1 212-223-0643

Email: ir@gaslogltd.com

About GasLog
GasLog is an international owner, operator and manager of LNG carriers providing support to international energy companies as part of their LNG logistics chain. GasLog’s consolidated owned fleet consists of 32 LNG carriers (25 ships on the water and seven on order). GasLog also has an additional LNG carrier which was sold to a subsidiary of Mitsui & Co. Ltd. and leased back under a long-term bareboat charter. GasLog’s consolidated fleet includes 13 LNG carriers in operation owned by GasLog Partners. GasLog’s principal executive offices are at Gildo Pastor Center, 7 Rue du Gabian, MC 98000, Monaco. Visit GasLog’s website at http://www.gaslogltd.com.

http://globenewswire.com/news-release/2018/08/20/1553822/0/en/GASLOG-LTD-ANNOUNCES-TWO-NEW-LONG-TERM-CHARTERS-WITH-CHENIERE-AND-PLACES-NEWBUILDING-ORDERS-AT-SAMSUNG-HEAVY-INDUSTRIES.html

Aspen Group, Inc. Delivers a Record 1,314 New Student Enrollments in Q1 FY’19

NEW YORK, Aug. 20, 2018 (GLOBE NEWSWIRE) — Aspen Group, Inc. (“AGI”), (Nasdaq: ASPU), a postsecondary education company, today announced a company record of 1,314 new student enrollments for the fiscal 2019 first quarter, a 52% increase year-over-year. Aspen University accounted for 1,093 new student enrollments (includes 118 Doctoral enrollments and 93 Pre-licensure BSN AZ campus enrollments), while United States University (“USU”) accounted for 221 new student enrollments (primarily Family Nurse Practitioner (“FNP”) enrollments).

Below is a table reflecting unconditional acceptance new student enrollments for the past five quarters:

               
  New Student Enrollments     EAs Enrolls/Month/EA
  Q1’18 Q2’18 Q3’18 Q4’18 Q1’19    
Aspen (Nursing + Other) 862* 1,044* 972* 980 882 51 5.8
Aspen (Doctoral)       116 118 5 7.9
Aspen (Pre-Licensure BSN, AZ Campus)         93 3 10.3
USU (FNP + Other)       177 221 11 6.7
Total 862 1,044 972 1,273 1,314 70  
*Included doctoral enrollments              

Aspen University’s traditional fully-online degree programs (not including campus) delivered 1,000 enrollments (Nursing + Other and Doctoral) in the quarter compared to 862 (Nursing + Other and Doctoral) in the prior year period, a 16% increase year-over-year. Aspen University’s traditional fully-online enrollment center ended the quarter with 56 Enrollment Advisors (51 Nursing + Other, 5 Doctoral) as compared to 49 EAs in the prior year period, representing growth of 14%.

Overall, AGI grew its enrollment center from 49 to 70 EAs year-over-year, representing growth of 43%. The majority of the year-over-year enrollment center growth was the staffing of its new subsidiary, USU, which ended the quarter with 11 EAs. Finally, Aspen University’s Pre-licensure BSN AZ campus now employs 3 EAs whom were responsible for delivering 93 enrollments for the inaugural semester which began in July, 2018.

The average enrollments per month, per EA, by degree unit in the quarter were as follows; 1) Aspen Nursing + Other: 5.8/month/EA, 2) Aspen Doctoral: 7.9/month/EA, 3) Aspen Pre-Licensure BSN AZ Campus: 10.3/month/EA, and 4) USU FNP + Other: 6.7/month/EA.

The current Marketing Efficiency Ratio (cost-per-enrollment/revenue-per-enrollment) for our three degree units*** is reflected in the below table:

    Enrollments     Cost-of-
Enrollment**
    LTV     MER  
Aspen (Nursing + Other)     882     $ 1,268     $ 7,350       5.8X  
Aspen (Doctoral)     118     $ 2,169     $ 12,600       5.8X  
USU (FNP + Other)     221     $ 1,783     $ 17,820       10.0X  

**Based on 6-month rolling average
***LTV projections are not yet available for the new BSN pre-licensure campus unit

Aspen University’s total active student body grew 31% year-over-year from 5,015 to 6,590. Aspen’s School of Nursing grew 36% year-over-year, from 3,569 to 4,863 active students. Note that the student body increase of only 90 active students sequentially is a result of summer seasonality, as a significant number of our predominantly working professional students do not take a course during the months of June and July.

Aspen University students paying tuition and fees through a monthly payment method grew by 40% year-over-year, from 3,410 to 4,769. Those 4,769 students paying through a monthly payment method represent 72% of Aspen University’s total active student body.

USU’s active degree-seeking student body grew sequentially from 557 to 684 students or a sequential increase of 23%. USU students paying tuition and fees through a monthly payment method grew from 293 to 399 students sequentially. Those 399 students paying through a monthly payment method represent 58% of USU’s total active student body.

“One of AGI’s key strategies for 2018 is to continue growing our enrollment center over 40% year-over-year, and direct those staffing increases more toward our higher LTV/Marketing Efficiency Ratio business units. This will allow AGI in the coming quarters to drive higher revenue per active student thereby allowing the company to achieve bottom line profitability more expediently,” said Chairman & CEO, Michael Mathews.

About Aspen Group, Inc.:

Aspen Group, Inc. is a publicly held, for-profit post-secondary education company headquartered in New York, NY.  It owns two accredited universities, Aspen University and United States University. Aspen Group’s vision is to make college affordable again in America.

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including growing the enrollment center, increasing revenues per student and achieving profitability. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements are included in our filings with the SEC including our Form S-3 filed April 11, 2018,  our Prospectus Supplement filed April 19, 2018 and our Form 10-K for the year ended April 30, 2018 filed July 13, 2018. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Company Contact:
Aspen Group, Inc.
Michael Mathews, CEO
914-906-9159

http://globenewswire.com/news-release/2018/08/20/1553827/0/en/Aspen-Group-Inc-Delivers-a-Record-1-314-New-Student-Enrollments-in-Q1-FY-19.html

Tyson Foods to Acquire Keystone Foods for $2.16 Billion

-Expands Tyson Foods’ value-added protein capabilities serving key foodservice customers 

-Strengthens global presence in high growth international markets

SPRINGDALE, Ark., Aug. 20, 2018 (GLOBE NEWSWIRE) — Tyson Foods, Inc. (NYSE: TSN) today announced it has reached a definitive agreement to buy the Keystone Foods business from Marfrig Global Foods for $2.16 billion in cash. The acquisition of Keystone, a major supplier to the growing global foodservice industry, is Tyson Foods’ latest investment in furtherance of its growth strategy and expansion of its value-added protein capabilities.

Headquartered in West Chester, Pennsylvania, Keystone supplies chicken, beef, fish and pork to some of the world’s leading quick-service restaurant chains, as well as retail and convenience store channels. Its value-added product portfolio includes chicken nuggets, wings and tenders; beef patties; and breaded fish fillets.

The acquisition includes six processing plants and an innovation center in the U.S. with locations in Alabama, Georgia, Kentucky, North Carolina, Pennsylvania and Wisconsin. (It does not include the beef patty processing plant in Ohio.) It also includes eight plants and three innovation centers in China, South Korea, Malaysia, Thailand and Australia.

“Keystone is a leading global protein company and will be a great addition to Tyson Foods,” said Tom Hayes, president and CEO of Tyson Foods. “This acquisition will expand our international presence and value-added production capabilities and help us deliver more value to our foodservice customers. Keystone provides a significant foundation for international growth with its in-country operations, sales and distribution network in high growth markets in the Asia Pacific region as well as exports to key markets in Europe, the Middle East and Africa. We look forward to serving customers with these additional capabilities and to welcoming Keystone’s dedicated team members to the Tyson Foods family.”  

Keystone, which employs approximately 11,000 people, generated annual revenue of $2.5 billion and Adjusted EBITDA of $211 million in the last 12 months ending June 30, 2018, excluding non-controlling interest and other adjustments1. During the same period, the company generated approximately 65 percent of its revenue from U.S.-based production and the remaining 35 percent from its Asia Pacific plants.

1Please see the Keystone Foods Adjusted EBITDA reconciliation at the end of this release.             

Tyson Foods expects the acquisition to be accretive to GAAP EPS in the third year and accretive to adjusted EPS in the first year excluding transaction-related costs as well as the incremental depreciation and amortization associated with the transaction.  It also expects to generate annual synergies of approximately $50 million by the third year of the acquisition, driven by operational efficiencies, procurement savings, distribution and supply network optimization and other opportunities.

Terms and Closing
The acquisition will be funded through a combination of existing liquidity and proceeds from the issuance of new debt. Initial leverage metrics are expected to be well within levels appropriate for the company’s existing investment-grade credit ratings. The company plans to use its cash flows to pay down debt to continue to support its credit ratings and to strengthen its balance sheet.

The transaction, which has been approved by Tyson Foods’ board of directors, is expected to close in mid-fiscal 2019. It is subject to customary closing conditions, including regulatory approvals.

Morgan Stanley & Co. LLC is acting as exclusive financial adviser to Tyson Foods on the acquisition, and Davis Polk & Wardwell LLP is acting as its legal counsel.

A conference call will be held at 9 a.m. Eastern on Monday, Aug. 20. Participants may pre-register for the call at http://dpregister.com/10123208. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the operator. Participants may pre-register at any time, including up to and after the call has started. Those without internet access or who are unable to pre-register may dial in by calling toll free 1-844-890-1795, international toll 1-412-717-9589.

A live webcast will be available on the Tyson Foods Investor Relations website at http://ir.tyson.com. The webcast also can be accessed with the URL https://event.on24.com/wcc/r/1812837/239811CF7649EF0868EC3463B2940FA5.

A replay of the call will be available until Sept. 20 toll free at 1-877-344-7529, international toll 1-412-317-0088 or Canada toll free 855-669-9658. The replay access code is 10123208.

Keystone Foods
Adjusted EBITDA Reconciliation
(In millions)
(Unaudited)
  Twelve Months Ended
  June 30, 2018
   
Profit from continuing operations $    119  
(+) Parent company fees     5  
(+) Non-recurring expenses     13  
(+) Amortization of biological assets     21  
(+) Depreciation and other amortization     43  
(+) Finance expense     37  
(+) Finance income     (10 )
(+) Foreign currency and bank fees     3  
(+) Tax expense     14  
(+) Share of post-tax losses of equity-accounted associates and joint ventures     3  
Adjusted EBITDA $   248  
   
Additional adjustments to Adjusted EBITDA:  
Less:  Amortization of biological assets $    (21 )
Less:  Non-controlling interest     (16 )
Adjusted EBITDA excluding amortization of biological assets and non-controlling assets $   211  

Keystone Foods prepares its consolidated financial statements in accordance with International Financial Reporting Standards, as issued by the International Accounting Standards Board (collectively, “IFRS”).  Keystone Foods provided Tyson Foods with this reconciliation of Adjusted EBITDA, which was derived from Keystone Foods’ historical unaudited financial statements for the twelve months ended June 30, 2018.  Adjusted EBITDA is a non-IFRS measure used by Keystone Foods.  Keystone Foods defined Adjusted EBITDA as profit from continuing operations, as adjusted for parent company fees, non-recurring expenses, amortization of biological assets, depreciation of tangible fixed assets and amortization of finite lived intangibles, finance expense, finance income, foreign currency and bank fees, tax expense and share of post-tax losses of equity accounted associates and joint ventures.  Additionally, Keystone Foods provided Tyson Foods with further adjustments to its Adjusted EBITDA to eliminate the add-back of amortization of biological assets as well as deduct the proportionate share of Adjusted EBITDA attributable to minority interest holders (i.e. non-controlling interest).  In accordance with generally accepted accounting principles in the United States (in accordance with which Tyson Foods prepares its consolidated financial statements), biological assets and the related expenses are not characterized as intangible assets or amortization expense.  Additionally, several of Keystone Foods foreign consolidated subsidiaries are partially owned by minority interest holders.  As a result, these adjustments have been eliminated in the above presentation of Adjusted EBITDA, and these adjustments are intended to provide investors with an understanding of the proportionate Adjusted EBITDA attributable to the interests being acquired by Tyson Foods.

Keystone Foods’ Adjusted EBITDA is not a measure defined under IFRS, should not be considered in isolation and should not be regarded as an alternative to profit/(loss) from continuing operations as a measure of operational performance or cash flows provided by operating activities as a measure of liquidity, or any other performance measure derived in accordance with IFRS. 

Tyson Foods believes this presentation of Keystone Foods’ Adjusted EBITDA (as adjusted as described above) is useful and helps management, investors and rating agencies enhance their understanding of the expected impact of the Keystone Foods acquisition on Tyson Foods’ financial performance.  However, Adjusted EBITDA does not have a standardized meaning, and different companies may use different Adjusted EBITDA definitions.  Therefore, Keystone Foods definition of Adjusted EBITDA may not be comparable to the definitions used by other companies.

About Tyson Foods
Tyson Foods, Inc. (NYSE: TSN) is one of the world’s largest food companies and a recognized leader in protein. Founded in 1935 by John W. Tyson and grown under three generations of family leadership, the company has a broad portfolio of products and brands like Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®,
Aidells®, ibp® and State Fair®. Tyson Foods innovates continually to make protein more sustainable, tailor food for everywhere it’s available and raise the world’s expectations for how much good food can do. Headquartered in Springdale, Arkansas, the company has 122,000 team members at Sept. 30, 2017. Through its Core Values, Tyson Foods strives to operate with integrity, create value for its shareholders, customers, communities and team members and serve as a steward of the animals, land and environment entrusted to it. Visit www.tysonfoods.com

Cautionary Statement Regarding Forward-Looking Statements
This communication contains forward-looking statements, including statements regarding the expected consummation of the acquisition, which involve a number of risks and uncertainties, including the satisfaction of closing conditions for the acquisition (such as regulatory approval for the transaction); the possibility that some or all of the transaction will not be completed; the impact of general economic, industry, market or political conditions; risks related to the ultimate outcome and results of integrating the Keystone Foods operations; the ultimate ability to realize synergies; the effects of the business combination on Tyson Foods and the Keystone Foods operations, including on the combined company’s future financial condition and performance, operating results, strategy and plans. These statements constitute 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. The words “will,” “should,” “estimate,” “expect,” “intend,” “believe” and other similar expressions (or the negative of such terms) are intended to identify forward-looking statements. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results and the timing of events may differ materially from the results and/or timing discussed in the forward-looking statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date of this communication, and Tyson Foods does not undertake any obligation to update any forward-looking statement except as required by law.

Tyson Foods Contacts
Media:                 Gary Mickelson, 479-290-6111
Investors:            Jon Kathol, 479-290-4235

http://globenewswire.com/news-release/2018/08/20/1553829/0/en/Tyson-Foods-to-Acquire-Keystone-Foods-for-2-16-Billion.html

First Mining Intersects 2.44 g/t Gold Over 108 Metres 10kms Northeast of Current Resource Area

VANCOUVER, British Columbia, Aug. 20, 2018 (GLOBE NEWSWIRE) — First Mining Gold Corp. (TSX:FF) (OTCQX:FFMGF) (FRANKFURT:FMG) (“First Mining” or the “Company”) is pleased to announce initial fire assay results from a regional exploration drilling program, currently underway at the Company’s wholly-owned Goldlund Gold Property (“Goldlund”) in northwestern Ontario, Canada. 

Drilling Highlights:

  • Hole MI-18-001 intersected 107.6 metres (“m”) of 0.33 grams per tonne gold (“g/t Au”)
    • including 11.0 m of 1.17 g/t Au
       
  • Hole MI-18-002 intersected 142.1 m of 1.90 g/t Au
    • including 108.0 m of 2.44 g/t Au, and 31.0 m of 4.44 g/t Au
    • and including 7.0 m of 14.67 g/t Au
       
  • Hole MI-18-003 intersected 48.0 m of 1.07 g/t Au
    • including 15.0 m of 1.41 g/t Au
       
  • Hole MI-18-004 intersected 23.8 m of 0.54 g/t Au
    • including 5.80 m of 1.40 g/t Au
       
  • Hole MI-18-005 intersected 10.0 m of 0.43 g/t Au
    • and 1.0 m of 4.18 g/t Au
       
  • Hole MI-18-006 intersected 22.0 m of 0.69 g/t Au
    • including 6.40 m of 2.09 g/t Au and 0.38 m of 21.66 g/t Au

Note:  Assaying for the Miller and Eaglelund drill programs are being done by SGS Canada Inc. (“SGS”) at their laboratories in Red Lake and Cochrane, ON. Reported widths are drilled core lengths; true widths are unknown at this time.  Assay values are uncut.

Jeff Swinoga, President and Chief Executive Officer of First Mining, stated, “This discovery of significant gold mineralization over such lengths and depths at the Miller prospect is a striking success on its own. However, of much greater significance to the bigger picture at Goldlund, is that today’s results confirm the presence of Goldlund-style mineralization approximately 10 kilometres from the current resource area along strike of this 50 kilometre long property and indicate the near-term exploration potential to expand the Goldlund resource.  Of the eight drill holes, seven had occurrences of visible gold.”

This is the Company’s first drill program to test the regional potential of the Goldlund property to host significant gold mineralization similar to that demonstrated within the Goldlund resource area. Today’s results are from the first six drill holes of a planned thirteen hole diamond drill program at the Miller and Eaglelund prospect areas (See Figure 1 below).

Figure 1: Location Map Showing Miller and Eaglelund Exploration Areas
http://www.globenewswire.com/NewsRoom/AttachmentNg/4f8bc9d3-0817-4be0-ad70-17ea7df80107

(1) Based on a technical report titled “Technical Report and Resource Estimation Update on the Goldlund Project” dated February 7, 2017, which was prepared by WSP Canada Inc. in accordance with NI 43-101 and which is available under the Company’s SEDAR profile at www.sedar.com, and on the Company’s website at www.firstmininggold.com.

The two targeted areas lie approximately 10 kilometres northeast of the Goldlund resource area, along strike of the lithologic fabric of granodiorite sills/dykes intruded into regional mafic meta-volcanic greenstone which extends over 30 kilometres within the Goldlund property boundary. This elongate pattern of brittle granodiorite in ductile mafic meta-volcanic rocks is a key mechanism in focusing gold mineralization, as demonstrated in the area of the current Goldlund resource. The pattern of granodiorite sills/dykes hosted in mafic meta-volcanic can be observed in the geophysical map presented below in Figure 2.

Figure 2: Geophysics Map (calculated with vertical gradient magnetics northeast of the Goldlund resource area)
http://www.globenewswire.com/NewsRoom/AttachmentNg/33a4401f-4d6c-4e34-9641-af9f8d9ae71a

A total of eight drill holes were planned and completed at Miller while five drill holes are planned at Eaglelund and the first drill hole is currently underway (Figure 3 below).

Figure 3: Drill Plan Map Showing Miller and Eaglelund Prospects (projections to surface) http://www.globenewswire.com/NewsRoom/AttachmentNg/7852ebe8-78ea-4b76-9252-59d233aeb96e         

Figure 4: Cross Section (looking Northeast at Miller Prospect)
http://www.globenewswire.com/NewsRoom/AttachmentNg/4e83903b-7500-446b-aeab-4179148a25f1

The drilling results at Miller confirmed the same mineralogical associations of gold present in quartz-carbonate-sulphide stockwork veining in granodiorite which is very similar to that observed at the Goldlund resource area.

While it is too early yet to draw strong conclusions, some differences with the Goldlund resource area have been observed at Miller: 

  • At Miller, the four drill holes which crosscut the granodiorite from hangingwall to footwall indicate that the entire width of the dyke appears receptive to gold mineralization, while at the Goldlund resource area, gold mineralization tends to occupy only 25% – 40% of the total dyke width, generally favouring the footwall side.
  • In addition, while visible gold (“VG”) and gold tellurides were common in First Mining’s 2017-2018 infill drilling program at the Goldlund resource area, the frequency of occurrence of VG at Miller was much greater, with VG occurring in seven out of the total eight holes.

             
The occurrence of VG in the Miller drill holes is summarized in Table 1 below:

Table 1: Occurrences of Visible Gold (VG) at Miller Prospect

Drillhole Logged From To   Au g/t
ID Observation (m) (m) Sample ID (Fire Assay)
MI-18-001 (VG observed) 18 18.3 C00054021 8.588
MI-18-001 (VG observed) 27.3 27.6 C00054034 8.670
           
MI-18-002 (VG observed) 5.5 6 C00054174 1.903
MI-18-002 (VG observed) 6 6.5 C00054175 11.880
MI-18-002 (VG observed) 122 122.5 C00054316 2.320
MI-18-002 (VG observed) 133 133.5 C00054330 0.585
           
MI-18-003 (VG observed) 69 69.5 C00054423 2.362
MI-18-003 (VG observed) 71 71.5 C00054426 2.964
MI-18-003 (VG observed) 90 90.5 C00054450 17.230
MI-18-003 (VG observed) 94.5 95 C00054457 1.344
MI-18-003 (VG observed) 97 97.5 C00054461 3.862
MI-18-003 (VG observed) 109.5 110 C00054479 0.007
MI-18-003 (VG observed) 124.5 125 C00054499 0.315
MI-18-003 (VG observed) 125 125.5 C00054500 10.550
MI-18-003 (VG observed) 125.5 126 C00054501 0.842
MI-18-003 (VG observed) 129.5 130 C00054507 4.391
MI-18-003 (VG observed) 137.7 138 C00054517 9.865
           
MI-18-004 (No VG)        
           
MI-18-005 (VG observed) 71 72 C00054657 0.768
           
MI-18-006 (VG observed) 103.62 104 C00054751 21.660
MI-18-006 (VG observed) 109 109.4 C00054759 4.690
           
MI-18-007 (VG observed) 94 94.5 C00054891 Assays Pending 
MI-18-007 (VG observed) 94.5 95 C00054892 Assays Pending  
MI-18-007 (VG observed) 101 101.5 C00054901 Assays Pending  
MI-18-007 (VG observed) 107 107.5 C00054911 Assays Pending  
MI-18-007 (VG observed) 107.5 108 C00054912 Assays Pending  
MI-18-007 (VG observed) 114 114.5 C00054925 Assays Pending  
MI-18-007 (VG observed) 132.5 133 C00054949 Assays Pending  
           
MI-18-008 (VG observed) 136 136.5 C00055084 Assays Pending  
MI-18-008 (VG observed) 137.5 138 C00055087 Assays Pending  

Figure 5 below presents a mosaic of nine photomicrograph images taken of some of the occurrences listed above. Drill hole ID, magnification and depth are noted in each image.

Figure 5: Photomicrograph Mosaic of VG Observed in Miller Prospect Core http://www.globenewswire.com/NewsRoom/AttachmentNg/99fdc33d-01d4-4bd0-949c-58a3697e2537

Sawn core samples were submitted to SGS (Red Lake, Ontario) for initial 50 gram fire assay with AAS finish.  Au detection over-limits (>10 g/t) are automatically re-assayed with gravimetric finish.

Given the frequent occurrence of visible gold in the Miller drill holes, First Mining is following up their standard fire assays with a more definitive assay protocol of metallic screen fire assay using a 1,000 gram sample size to minimize the high nugget effect characteristic of Goldlund mineralization. Metallic screen fire assays will be completed at the SGS Red Lake and Cochrane laboratories on all sample intervals where VG has been observed, as well as selected sample intervals immediately adjacent to VG. 

The 2018 regional exploration drilling campaign at Goldlund is designed to test the presence and character of potential gold mineralization distal from the current resource area. 

Table 2. Drill Hole Assay Results from the Miller Prospect

  Hole ID From (m) To (m) Length (m) Au g/t
MI-18-001 MI-18-001 7.0 114.6 107.6 0.33
inc 15.0 88.6 73.6 0.41
inc 16.0 18.3 2.3 1.93
and inc 18.0 18.3 0.3 8.59
and inc 23.3 29.6 6.3 0.91
and inc 27.3 27.6 0.3 8.67
and inc 77.6 88.6 11.0 1.17
and inc 87.6 88.6 1.0 6.27
MI-18-002 MI-18-002 0.4 142.5 142.1 1.90
inc 1.5 109.5 108.0 2.44
and inc 57.5 88.5 31.0 4.44
and inc 75.5 82.5 7.0 14.67
and inc 81.5 82.5 1.0 88.80
and inc 102.5 109.5 7.0 9.60
and inc 108.5 109.5 1.0 54.47
MI-18-003 MI-18-003 69.0 72.0 3.0 1.12
and 90.0 138.0 48.0 1.07
inc 90.00 90.5 0.50 17.23
and inc 94.00 97.5 3.50 2.28
and inc 105.0 106.0 1.00 3.90
and inc 115.0 130.0 15.0 1.41
and inc 125.00 125.5 0.50 10.55
and inc 137.70 138.0 0.30 9.87
MI-18-004 MI-18-004 34.0 57.8 23.8 0.54
inc 34.0 35.0 1.00 2.56
and inc 52.0 57.8 5.80 1.40
and inc 55.0 56.0 1.00 6.12
MI-18-005 MI-18-005 46.0 47.0 1.00 4.18
and 68.0 78.0 10.00 0.43
and inc 72.0 74.0 2.00 1.25
and  109.0 110.0 1.00 1.00
MI-18-006 MI-18-006 76.0 77.0 1.0 1.38
and 102.0 124.0 22.00 0.69
inc 103.0 109.4 6.40 2.09
and inc 103.6 104.0 0.38 21.66
and inc 109.0 109.4 0.40 4.69
and 145.0 147.0 2.00 1.48
and 169.0 170.0 1.00 3.01

Assaying for the 2018 Regional Goldlund drill programs are being done by SGS at their laboratories in Red Lake, Ontario.  Prepared samples are analyzed for gold by lead fusion fire assay with an atomic absorption spectrometry (AAS) finish, with metallic screen fire assays being run on selected samples. Multi-element analysis on the mineralized zones is also being undertaken by two-acid aqua regia digestion with ICP-MS and AES.

Table 3. Drill Hole Locations for the Miller Prospect

Hole ID Azimuth ° Dip ° Length (m) UTM East UTM North Section
MI-18-001 140 -80 140.5 554524 5533531 NW-50
MI-18-002 140 -85 200.0 554538 5533558 NW-100
MI-18-003 140 -55 170.0 554523 5533608 NW-100
MI-18-004 140 -55 101.0 554457 5533534 NW-00
MI-18-005 320 -65 110.0 554486 5533462 NW-00
MI-18-006 320 -65 170.0 554534 5533482 NW-50
MI-18-007 320 -60 182.0 554619 5533527 NW-150
MI-18-008 315 -60 172.8 554630 5533563 NW-150

QA/QC Procedures

The QA/QC program for the 2018 regional drilling programs at Miller and Eaglelund consists of the submission of duplicate samples and the insertion of certified reference materials and blanks at regular intervals.  These are inserted at a rate of one standard for every 20 samples (5% of total) and one blank for every 30 samples (3% of total).  The standards used in the 2018 regional program consist of 5 different gold grades ranging from 1 to 9 g/t Au, and are sourced from CDN Resource Laboratories in Langley, BC.  Blanks have been sourced locally from barren granitic material.

Field duplicates from quartered core, as well as ‘coarse’ or ‘pulp’ duplicates taken from coarse reject material or pulverized splits, are also submitted at regular intervals with an insertion rate of 4% for field duplicates and 4% for coarse or pulp duplicates.  Additional selected duplicates are being submitted to an umpire lab for check assaying.  SGS also undertake their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration.

Dr. Chris Osterman, P.Geo., COO of First Mining, is the “qualified person” for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and he has reviewed and approved the scientific and technical disclosure contained in this news release.

ABOUT THE GOLDLUND PROJECT

The Goldlund deposit is situated within a land package of approximately 280 square kilometres (28,000 hectares) referred to as the Goldlund Gold Project.  The Property has a strike-length of over 50 kilometres in the Wabigoon Subprovince.  Goldlund is an Archean lode-gold project located in northwestern Ontario, approximately 60 kilometres from the township of Dryden.  The claims that make up the land package cover the historic Goldlund and Windward mines.

On January 9, 2017, the Company announced an initial mineral resource estimate for Goldlund that was prepared by WSP Canada Inc. in accordance with NI 43–101.  At a 0.4 g/t Au cut-off grade, the Goldlund deposit contains pit constrained Indicated Resources of 9.3 million tonnes at 1.87 g/t Au, or 560,000 ounces of gold.  At a 0.4 g/t Au cut-off grade, the Goldlund deposit contains pit constrained Inferred Resources of 40.9 million tonnes at 1.33 g/t Au, or 1,750,000 ounces of gold.  The technical report for this resource estimate, which is titled “Technical Report and Resource Estimation Update on the Goldlund Project” and is dated February 7, 2017, is available under the Company’s SEDAR profile at www.sedar.com, and is also available on the Company’s website at www.firstmininggold.com.

ABOUT FIRST MINING GOLD CORP.

First Mining Gold Corp. is an emerging development company with a diversified portfolio of gold projects in North America. Having assembled a large resource base of 7 million ounces of gold in the Measured and Indicated categories and 5 million ounces of gold in the Inferred category in mining friendly jurisdictions of eastern Canada, First Mining is now focused on advancing its assets towards production. The Company currently holds a portfolio of 24 mineral assets in Canada, Mexico and the United States. 

For further information, please contact Jeff Swinoga, President and CEO at 416-816-0424, or Derek Iwanaka, Vice President of Investor Relations at 604-639-8824, or visit our website at www.firstmininggold.com.

ON BEHALF OF FIRST MINING GOLD CORP.

“Keith Neumeyer”

Keith Neumeyer
Chairman

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995.  These forward-looking statements are made as of the date of this news release.  Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “plans”, “projects”, “intends”, “estimates”, “envisages”, “potential”, “possible”, “strategy”, “goals”, “objectives”, or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions.

Forward-looking statements in this news release relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: (i) the near-term potential to expand the existing Goldlund resource; (ii) the completion of metallic screen fire assays; (iii) the completion of five drill holes at the Eaglelund prospect and the results of such drilling; (iv) the estimated amount and grade of Mineral Resources at Goldlund; and (v) the potential for exploration upside at Goldlund.  All forward-looking statements are based on First Mining’s or its consultants’ current beliefs as well as various assumptions made by them and information currently available to them.  The most significant assumptions are set forth above, but generally these assumptions include: (i) the presence of and continuity of metals at Goldlund at estimated grades; (ii) the capacities and durability of various machinery and equipment; and (iii) success in realizing proposed regional drilling programs.  Although the Company’s management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience.  We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates assumptions and intentions expressed in such forward-looking statements.  These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur as forecast, but specifically include, without limitation: (i) risks relating to variations in the mineral content within the material identified as Mineral Resources from that predicted; (ii) general risks related to exploration drilling programs; (iii) developments in world metals markets; (iv) risks relating to fluctuations in the Canadian dollar relative to the US dollar; (v) management’s discretion to refocus the Company’s exploration efforts and/or alter the Company’s short and long term business plans; and (vi) the additional risks described in First Mining’s Annual Information Form for the year ended December 31, 2016 filed with the Canadian securities regulatory authorities under the Company’s SEDAR profile at www.sedar.com, and in First Mining’s Annual Report on Form 40-F filed with the SEC on EDGAR.

First Mining cautions that the foregoing list of factors that may affect future results is not exhaustive.  When relying on our forward-looking statements to make decisions with respect to First Mining, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.  First Mining does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on our behalf, except as required by law.

Cautionary Note to United States Investors

This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws.  Unless otherwise indicated, all resource and reserve estimates included in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy, and Petroleum 2014 Definition Standards on Mineral Resources and Mineral Reserves.  NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects.  Canadian standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (“SEC”), and mineral resource and reserve information contained herein may not be comparable to similar information disclosed by U.S. companies.  In particular, and without limiting the generality of the foregoing, the term “resource” does not equate to the term “reserves”.  Under U.S. standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made.  The SEC’s disclosure standards normally do not permit the inclusion of information concerning “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” by U.S. standards in documents filed with the SEC.  Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves.  U.S. investors should also understand that “inferred mineral resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility.  It cannot be assumed that all or any part of an “inferred mineral resource” will ever be upgraded to a higher category.  Under Canadian rules, estimated “inferred mineral resources” may not form the basis of feasibility or pre-feasibility studies except in rare cases.  Investors are cautioned not to assume that all or any part of an “inferred mineral resource” exists or is economically or legally mineable.  Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in-place tonnage and grade without reference to unit measures.  The requirements of NI 43-101 for identification of “reserves” are also not the same as those of the SEC, and reserves reported by the Company in compliance with NI 43-101 may not qualify as “reserves” under SEC standards.  Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.

http://globenewswire.com/news-release/2018/08/20/1553831/0/en/First-Mining-Intersects-2-44-g-t-Gold-Over-108-Metres-10kms-Northeast-of-Current-Resource-Area.html

NextSource Materials Completes Non-Brokered Private Placement

TORONTO, Aug. 20, 2018 (GLOBE NEWSWIRE) — NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRC) (“NextSource” or the “Company”) announces it has completed a non-brokered private placement offering  (the “Offering”) of 21,659,270 units (the “Units”) at a price of CAD$0.07 per Unit for gross proceeds of CAD$1,474,149.  The Offering received substantial support from existing shareholders of the Company and included participation by management and directors of NextSource. 

Each Unit consists of one common share of the Company and one-half common share purchase warrant (a “Warrant”), with each Warrant entitling the holder to acquire one additional common share of the Company at a price of CAD$0.10 per share for a period of 24 months.

Use Of Proceeds

The net proceeds of the Offering will enable NextSource to satisfy specific requests by two major international graphite buyers to complete advanced testing requirements on a bulk sample of the Company’s SuperFlake® graphite concentrate for battery anode and expanded graphite foil applications. The net proceeds will also be used for general and administrative expenses. 

The bulk samples will be prepared and processed to the requested test specifications at SGS Minerals (Lakefield) Canada and under the supervision of Mr. Oliver Peters M.Sc., MBA, P.Eng., senior metallurgical and process consultant at SGS Minerals (Lakefield) Canada (“SGS”).

Mr. Peters was the head process engineer for NextSource’s 2015 pilot plant operation at SGS, which is the largest known pilot plant operation completed by any junior graphite company globally to date.  Over 200 tonnes of Molo ore was processed during the pilot plant operation, creating 13 tonnes of high quality, SuperFlake® graphite concentrate that was used to develop the process flowsheet for the Molo mine and to provide substantial and representative “run-of-mill” bulk tonnage samples for evaluation by graphite offtakers.   

As detailed in the Company’s June 2017 Feasibility Study, NextSource’s SuperFlake® graphite concentrate can achieve 98% carbon purity with standard mineral processing (flotation), has excellent thermal expansion, can be easily upgraded to 99.97% purity (battery grade) and contains no deleterious substances. The SuperFlake® graphite concentrate’s flake size distribution is well above the global average, with 46.4 percent being classified as the premium-priced +80 (large), +65 (extra large) and +48 (jumbo) mesh flake size. Specifically 23.6 percent of SuperFlake® graphite concentrate is +48 mesh and greater in size.

As previously reported, significant independent testing of the pilot plant material already completed by various key global offtakers and graphite end-users has confirmed that Molo SuperFlake® graphite concentrate meets or exceeds quality requirements for all major end markets for natural flake graphite – anode material for lithium-ion batteries, refractories and specialty graphite foils. Molo SuperFlake® has also been verified for graphene ink applications.

All securities issued in connection with the Offering will be subject to a minimum four-month hold period as required by Canadian securities laws.

The Company has obtained conditional approval from the Toronto Stock Exchange (the “TSX”) for the listing of all common shares issued pursuant to the Offering. The Offering is subject to receipt of final approval of the TSX.

Qualified Persons

Mr. Craig Scherba, P.Geo., President and CEO, is the qualified person who reviewed and approved the technical information provided in this press release.

About NextSource Materials Inc.

NextSource Materials Inc. is a mine development company based in Toronto, Canada, that is developing its 100%-owned Molo Graphite Project in southern Madagascar. The Molo Graphite Project is a feasibility-stage, shovel-ready project that ranks as one of the largest-known and highest quality flake graphite deposits in the world and the only project with SuperFlake® graphite.

For further information contact: +1.416.364.4911

Brent Nykoliation, SVP, Corporate Development at brent@nextsourcematerials.com or
Craig Scherba, President and CEO at craig@nextsourcematerials.com

Safe Harbour: This press release contains statements that may constitute “forward-looking statements” within the meaning of applicable Canadian securities legislation. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements include, but are not limited to, the trading of the Company’s shares on the TSX and OTCQB, the results of the updated 2017 Feasibility Study, the results of the previous 2015 Molo Feasibility Study, any and all product test results and product analysis. These are based on current expectations, estimates and assumptions, and although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, actual results or developments may vary and, in some instances, differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

http://globenewswire.com/news-release/2018/08/20/1553832/0/en/NextSource-Materials-Completes-Non-Brokered-Private-Placement.html

RedHill Biopharma Receives Allowance for New U.S. Patent Covering RHB-106, an Encapsulated Bowel Preparation

  • Once granted, the new formulation patent is expected to be valid until at least 2033
  • RHB-106 is an encapsulated bowel preparation with worldwide rights licensed to Salix Pharmaceuticals
     
  • RedHill and Salix recently amended their license agreement to include certain development activities, timelines and milestones to be achieved, as well as collaboration in relation to intellectual property rights             

TEL-AVIV, Israel and RALEIGH, N.C., Aug. 20, 2018 (GLOBE NEWSWIRE) — RedHill Biopharma Ltd. (Nasdaq: RDHL) (Tel-Aviv Stock Exchange: RDHL) (“RedHill” or the “Company”), a specialty biopharmaceutical company primarily focused on proprietary drugs for gastrointestinal diseases, today announced that it has received a Notice of Allowance from the U.S. Patent and Trademark Office (USPTO) for a new formulation patent covering RHB-106, which is expected to be valid until at least 2033. Additional patent applications for RHB-106 are pending in numerous other countries.

RHB-106 is an encapsulated bowel cleanser licensed to Salix Pharmaceuticals (“Salix”), a wholly-owned subsidiary of Bausch Health Companies Inc. (NYSE: BHC and TSX: BHC).

RedHill recently amended its 2014 worldwide license agreement with Salix relating to RHB-106, as well as additional related rights. The amendment clarified Salix’s future development efforts and provides for enhanced involvement by RedHill in certain intellectual property matters and increased the lower end of the range of royalty payments to be paid to RedHill on net sales from low single digits to high single digits. Milestone payments remain unchanged. RedHill continues to assist Salix in the development of RHB-106, as needed.

About RHB-106:
RHB-106 is an encapsulated formulation intended for the preparation and cleansing of the gastrointestinal tract prior to abdominal procedures and diagnostic tests, such as colonoscopies, barium enemas or virtual colonoscopies, as well as surgical interventions, such as laparotomies. RHB-106 is a tasteless solid oral dosage, potentially allowing for an unobstructed procedure with reduced side effects and improved patient compliance.

About RedHill Biopharma Ltd.:     
RedHill Biopharma Ltd. (Nasdaq: RDHL) (Tel-Aviv Stock Exchange: RDHL) is a specialty biopharmaceutical company, primarily focused on proprietary drugs for the treatment of gastrointestinal diseases. RedHill commercializes and promotes four gastrointestinal products in the U.S.: Donnatal® a prescription oral adjunctive drug used in the treatment of IBS and acute enterocolitis; Mytesi® an anti-diarrheal drug indicated for the symptomatic relief of non-infectious diarrhea in adult patients with HIV/AIDS on anti-retroviral therapy; Esomeprazole Strontium Delayed-Release Capsules 49.3 mg – a prescription proton pump inhibitor indicated for adults for the treatment of gastroesophageal reflux disease (GERD) and other gastrointestinal conditions, and EnteraGam® a medical food intended for the dietary management, under medical supervision, of chronic diarrhea and loose stools. RedHill’s key clinical-stage development programs include: (i) TALICIA® (RHB-105) for the treatment of Helicobacter pylori infection with an ongoing confirmatory Phase III study and positive results from a first Phase III study; (ii) RHB-104, with positive top-line results from a first Phase III study for Crohn’s disease; (iii) RHB-204, with a planned pivotal Phase III study for nontuberculous mycobacteria (NTM) infections; (iv) BEKINDA® (RHB-102), with positive results from a Phase III study for acute gastroenteritis and gastritis and positive results from a Phase II study for IBS-D; (v) YELIVA® (ABC294640), a first-in-class SK2 selective inhibitor, targeting multiple oncology, inflammatory and gastrointestinal indications, with an ongoing Phase IIa study for cholangiocarcinoma; (vi) RHB-106, an encapsulated bowel preparation licensed to Salix Pharmaceuticals, Ltd. and (vii) RHB-107 (formerly MESUPRON), a Phase II-stage first-in-class, serine protease inhibitor, targeting cancer and inflammatory gastrointestinal diseases.

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the initiation, timing, progress and results of the Company’s research, manufacturing, preclinical studies, clinical trials, and other therapeutic candidate development efforts; (ii) the Company’s ability to advance its therapeutic candidates into clinical trials or to successfully complete its preclinical studies or clinical trials; (iii) the extent and number of additional studies that the Company may be required to conduct and the Company’s receipt of regulatory approvals for its therapeutic candidates, and the timing of other regulatory filings, approvals and feedback; (iv) the manufacturing, clinical development, commercialization, and market acceptance of the Company’s therapeutic candidates; (v) the Company’s ability to successfully promote Donnatal® and Esomeprazole Strontium Delayed-Release Capsules 49.3 mg and commercialize EnteraGam®; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) the Company’s ability to acquire products approved for marketing in the U.S. that achieve commercial success and build its own marketing and commercialization capabilities; (viii) the interpretation of the properties and characteristics of the Company’s therapeutic candidates and the results obtained with its therapeutic candidates in research, preclinical studies or clinical trials; (ix) the implementation of the Company’s business model, strategic plans for its business and therapeutic candidates; (x) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its therapeutic candidates and its ability to operate its business without infringing the intellectual property rights of others; (xi) parties from whom the Company licenses its intellectual property defaulting in their obligations to the Company; (xii) estimates of the Company’s expenses, future revenues, capital requirements and needs for additional financing; (xiii) the effect of patients suffering adverse experiences using investigative drugs under the Company’s Expanded Access Program; and (xiv) competition from other companies and technologies within the Company’s industry. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 20-F filed with the SEC on February 22, 2018. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement, whether as a result of new information, future events or otherwise, unless required by law.

Company contact:
Adi Frish
Senior VP Business Development & Licensing
RedHill Biopharma
+972-54-6543-112
adi@redhillbio.com
IR contact (U.S.):
Timothy McCarthy, CFA, MBA
Managing Director, Relationship Manager
LifeSci Advisors, LLC
+1-212-915-2564
tim@lifesciadvisors.com 
 

http://globenewswire.com/news-release/2018/08/20/1553834/0/en/RedHill-Biopharma-Receives-Allowance-for-New-U-S-Patent-Covering-RHB-106-an-Encapsulated-Bowel-Preparation.html

iKang Announces Shareholders’ Approval of “Going Private” Transaction

BEIJING, Aug. 20, 2018 (GLOBE NEWSWIRE) — iKang Healthcare Group, Inc. (“iKang” or the “Company”) (Nasdaq: KANG), a major provider in China’s fast growing private preventive healthcare services market, today announced that, at an extraordinary general meeting (the “EGM”) held today, the Company’s shareholders voted in favor of the proposal to authorize and approve the previously announced agreement and plan of merger, dated as of March 26, 2018 and amended as of May 29, 2018 (the “Merger Agreement”), by and among the Company, IK Healthcare Investment Limited (“Parent”) and IK Healthcare Merger Limited (“Merger Sub”), pursuant to which, Merger Sub will be merged with and into the Company with the Company continuing as the surviving company and becoming a wholly owned subsidiary of Parent (the “Merger”), the plan of merger (the “Plan of Merger”) required to be filed with the Registrar of Companies of the Cayman Islands, and the transactions contemplated thereby, including the Merger.

Approximately 62.91% of the Company’s total outstanding shares, representing approximately 71.92% of the voting rights of the Company’s shares, voted in person or by proxy at the EGM. Of the voting rights of these shares voted in person or by proxy at the EGM, approximately 99.17% were voted in favor of the proposal to authorize and approve the Merger Agreement, the Plan of Merger and the transactions contemplated thereby, including the Merger. The Merger Agreement, the Plan of Merger and the transactions contemplated thereby, including the Merger, were therefore duly authorized and approved by way of special resolutions as required by, and in compliance with, the Companies Law of the Cayman Islands.

If the Merger is completed, the Company will become a privately held company and its American Depositary Shares (“ADSs”), each representing 1/2 of a Class A common share, will no longer be listed on the NASDAQ Global Select Market and the ADS program for the ADS will terminate.

The completion of the Merger is subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement. Under Section 7.02(e) of the Merger Agreement, the obligations of Parent and Merger Sub to consummate the Merger and the other transactions contemplated by the Merger Agreement are subject to the condition that the holders of no more than 15% of the total issued and outstanding shares of the Company have validly served notices of objection under Section 238(2) of the Cayman Islands Companies Law (“Objection Notices”) to object to the Merger. Prior to the EGM, the Company received Objection Notices from holders of the Company’s Class A common shares representing, collectively, approximately 30.49% of the total issued and outstanding shares of the Company. As a result, the closing condition under Section 7.02(e) of the Merger Agreement is not satisfied. The Company has formally requested that Parent and Merger Sub waive this closing condition. However, the Company cautions its shareholders and others considering trading its securities that, due to the non-satisfaction of the closing condition in Section 7.02(e) of the Merger Agreement, Parent and Merger Sub are not obligated to consummate the Merger or the other transactions contemplated by the Merger Agreement and that there is no indication or assurance that Parent and Merger Sub will waive such closing condition.

About iKang Healthcare Group, Inc.

iKang Healthcare Group, Inc. is one of the largest providers in China’s fast-growing private preventive healthcare space through its nationwide healthcare services network.

iKang’s nationwide integrated network of multi-brand self-owned medical centers and third-party facilities, provides comprehensive and high-quality preventive healthcare solutions across China, including medical examination, disease screening, outpatient service and other value-added services. iKang’s customer base primarily comprises corporate clients, who contract with iKang to deliver medical examination services to their employees and clients and receive these services at pre-agreed rates. iKang also directly markets its services to individual customers. In the fiscal year 2017 ended March 31, 2018, iKang served a total of 6.59 million customer visits under both corporate and individual programs.

As of August 20, 2018, iKang has a nationwide network of 114 self-owned medical centers, covering 33 of China’s most affluent cities: Beijing, Shanghai, Guangzhou, Shenzhen, Chongqing, Tianjin, Nanjing, Suzhou, Hangzhou, Chengdu, Fuzhou, Jiangyin, Changzhou, Wuhan, Changsha, Yantai, Yinchuan, Weihai, Weifang, Shenyang, Xi’an, Wuhu, Guiyang, Ningbo, Foshan, Jinan, Bijie, Qingdao, Wuxi, Kaili, Mianyang and Zhenjiang, as well as Hong Kong. iKang has also extended its coverage to over 200 cities by contracting with over 400 third-party facilities, which include select independent medical examination centers and hospitals across all of China’s provinces, creating a nationwide network that allows iKang to serve its customers in markets where it does not operate its own medical centers. 

Forward-looking Statements

This press release contains forward-looking statements. These statements, including management quotes and business outlook, are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “intend,” “potential,” “plan,” “goal” and similar statements. iKang may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These forward-looking statements include, but are not limited to, statements about: the expected timing of the completion of the Merger; whether various closing conditions for the Merger will be satisfied or waived; the Company’s goals and strategies; its future business development, financial condition and results of operations; its ability to retain and grow its customer base and network of medical centers; the growth of, and trends in, the markets for its services in China; the demand for and market acceptance of its brand and services; competition in its industry in China; relevant government policies and regulations relating to the corporate structure, business and industry; fluctuations in general economic and business conditions in China. Further information regarding these and other risks is included in iKang’s filing with the Securities and Exchange Commission. iKang undertakes no duty to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

IR Contact: iKang Healthcare Group, Inc.
Christy Xie
Director of Investor Relations
Tel: +86 10 5320 8599
Email: 
Website: www.ikanggroup.com FleishmanHillard
Email:

http://globenewswire.com/news-release/2018/08/20/1553820/0/en/iKang-Announces-Shareholders-Approval-of-Going-Private-Transaction.html

Nova Leap Health Corp. Announces Execution of Definitive Agreement to Acquire Home Care Services Business in Massachusetts, U.S.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

HALIFAX, Nova Scotia, Aug. 20, 2018 (GLOBE NEWSWIRE) — NOVA LEAP HEALTH CORP. (TSXV: NLH) (“Nova Leap” or “the Company”), is pleased to announce that it has executed a definitive agreement (“the Agreement”), dated August 17, 2018, to acquire a home care services company (“the Target”) located in the Commonwealth of Massachusetts.   The Target reported unaudited revenues of $3.2 million and net income of $443,000 for the year ended December 31, 2017.  The Target reported unaudited revenues of $1.563 million and net income of $256,000 for the six months ended June 30, 2018.  All amounts are in United States dollars (“USD”) unless otherwise specified.

The acquisition is expected to be immediately accretive and is targeted to close in the third quarter of 2018.  Under the terms of the Agreement, the acquisition is to be made for total consideration of $1.6 million of which $1.36 million is payable with cash on closing and $240,000 is by way of a promissory note. The promissory note bears interest at 2%.  Three equal principal payments are to be made on October 1, 2019, October 1, 2020 and October 1, 2021 along with the accrued interest.  Closing the acquisition will be subject to final due diligence, financing and TSX Venture Exchange approval.  

“We continue to execute on our growth plans and attract high quality opportunities,” said Chris Dobbin, President & CEO of Nova Leap.  “Integration of our existing businesses is going well which speaks to the tremendous dedication our employees have in assisting our clients with their home care needs.”   

This press release does not constitute an offer to sell or solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Nova Leap

The Home Care Providers industry is becoming one of the fastest growing healthcare industries in Canada and the United States. Home care saves patients billions of dollars every year by treating them in their own homes instead of in hospitals. An aging population, the prevalence of chronic disease, growing physician acceptance of home care, medical advancements and a movement toward cost-efficient treatment options from public and private payers have all fostered industry growth.  Nova Leap is focused on a highly fragmented market of small privately-held companies providing patients one on one care in their homes.  Nova Leap’s post-acquisition organic growth strategy is to increase annual revenue per location through a combination of increased employee investment, including training, focused sales and marketing efforts, billing rate increases, expansion of geographical coverage, and improved referral sources.

FORWARD LOOKING INFORMATION:

Certain information in this press release may contain forward-looking statements, such as statements regarding the completion of the second tranche of the brokered private placement, the anticipated use of the proceeds from the first tranche of the Private Placements and the second tranche of the brokered private placement, and the increase in the Company’s recurring client service hours and annualized recurring revenue. This information is based on current expectations and assumptions, including assumptions concerning economic and market conditions, the Company’s ability to integrate its acquired businesses and maintain previously achieved service hour and revenue levels, that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Risks that could cause results to differ from those stated in the forward-looking statements in this release include regulatory changes affecting the home care industry, unexpected increases in operating costs and competition from other service providers. All forward-looking statements, including any financial outlook or future-oriented financial information, contained in this press release are made as of the date of this release and included for the purpose of providing information about management’s current expectations and plans relating to the future. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in the Company’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.

For further information:

Christopher Dobbin, CPA, CA, Director, President and CEO Nova Leap Health Corp.,
T: 902 401 9480  F: 902 482 5177 cdobbin@novaleaphealth.com

CAUTIONARY STATEMENT:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

http://globenewswire.com/news-release/2018/08/20/1553818/0/en/Nova-Leap-Health-Corp-Announces-Execution-of-Definitive-Agreement-to-Acquire-Home-Care-Services-Business-in-Massachusetts-U-S.html

Halitron, Inc. Outlines Strategic Plan to Increase Sales 200%

Management Confirms Sales Growth Plan, Stock Buyback Strategy, No, Reverse Slit and Targeting Acquisitions in Hyper-Growth Markets.

NEWTOWN, CT, Aug. 20, 2018 (GLOBE NEWSWIRE) — Halitron, Inc. (the “Company,” “Halitron”) (OTC: HAON), a multisector holding company, is pleased to outline its talking points from the 2nd Quarter 2018 Shareholder Conference Call hosted on Thursday, August 16th, 2018.

  • Sales Growth Plan – Retailiom hired two new sales members in 2018 which has positively impacted top line sales.  The Company has three more brands that are scheduled to be further developed over the coming quarters to increase sales levering a very efficient operating infrastructure.
  • Stock Buyback Strategy – Now that Halitron has seen two consecutive quarters with consistent double-digit growth without decreasing margins, management is in the position to begin to ramp up its stock buyback program of up to $0.01 per share in the open market as previously reported.
  • No Reverse Split – Management reconfirms that it has no current plans to reverse split the common shares of Halitron Inc. Rather, it plans to complete more acquisitions utilizing its shares as currency (restricted shares).  Halitron plans to stay focused on growing shareholder value by continuing to implement its current business model which has grown to approach $500,000 per quarter in sales.
  • Audit – Upon completing a two-year audit, the Board will review the requirement set by OTC Markets which currently states that a Company planning to apply for an up list to the OTC QB market must have a stock price of $0.01 or higher for 20 consecutive trading days. We believe Halitron, Inc. can achieve this milestone without a reverse split.
  • Hyper-Growth Markets – Management will continue to develop its currently owned and future acquisition assets over the current quarters and will change its acquisition focus to include hyper-growth markets. Management feels the acquisition of established and growing companies within this space will have a positive impact to shareholder value.  More information will be released as the Company goes through the merger and acquisition process with targeted companies or assets.  

About Halitron, Inc.

Halitron, Inc. is focused on acquiring sales, marketing, and manufacturing businesses to roll into efficient, low-cost operating infrastructures. Management targets operating entities that can benefit from our current operating infrastructure or operate autonomously and utilize our  product or service offerings in order to expand their existing operations. For more information on Halitron, Inc., please visit: www.halitroninc.com.

Halitron is neither an underwriter (as the term is defined in Section 2(a)(11) of the Securities Act of 1933) nor an investment company pursuant to the Investment Company Act of 1940. Halitron is not an investment adviser pursuant to the Investment Advisers Act of 1940. Halitron is not registered with FINRA or SIPC.

 @HAON_official

@haon.inc

@haon.official

@haon-official

@HOPPCOMPANIES

@Hopp Companies, Inc.

@hoppcompanies.inc

@hopp-companies

Safe Harbor Statement:

The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may,” “will,” “should,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company’s control. Halitron, Inc is neither an underwriter as the term is defined in Section 2(a)(11) of the Securities Act of 1933, nor an investment company pursuant to the Investment Company Act of 1940. Halitron, Inc. is not an investment adviser pursuant to the Investment Advisers Act of 1940. Halitron, Inc. is not registered with FINRA or SIPC.

Contact: Halitron Investor Relations 
3 Simms Lane, Suite 2F, Newtown, CT 06470
1-877-710-9873
www.halitroninc.com 
info@halitroninc.com  

http://globenewswire.com/news-release/2018/08/20/1553796/0/en/Halitron-Inc-Outlines-Strategic-Plan-to-Increase-Sales-200.html

ClearStream Announces the Appointment of a New CEO

CALGARY, Alberta, Aug. 20, 2018 (GLOBE NEWSWIRE) — ClearStream Energy Services Inc. (“ClearStream” or the “Company”) (TSX: CSM) announces today the appointment of Yves Paletta as its Chief Executive Officer (“CEO”). Mr. Paletta is a senior executive with a 25-year track record of leading successful global organizations, having previously served as the President and CEO of Logstor Group (“Logstor”), a supplier of pre‐insulated pipe systems based in Copenhagen, Denmark. During his tenure at Logstor, Mr. Paletta restructured the municipal district energy business and established the company as a key oilfield service provider to pipeline owners across the world.

On behalf of the Board, Dean MacDonald, Executive Chairman, commented: “The Board is very pleased to have Yves as our new CEO. Having recently completed a major refinancing exercise to strengthen its balance sheet, ClearStream will now actively seek to expand its scope of services and geographical footprint with more value-added solutions and technologies. With Mr. Paletta’s vast international experience and market knowledge, we are confident in his ability to lead ClearStream into a new phase of profitable growth.”

Mr. Paletta added: “ClearStream has a track record of strong operational execution, a top-tier customer base and a revenue stream that has held up well over the past few challenging years. I am excited for the opportunity to lead ClearStream as we focus on strategic growth initiatives that will progress the Company to the next level. We will strive to be recognized as the most trusted provider of industrial and asset integrity services to improve our customers’ facilities and operations in a safe, efficient and cost effective manner.”

Mr. Paletta brings experience in leading businesses with a focus on growth, strong business processes, and operational execution. Prior to his role at Logstor, Mr. Paletta served as the Managing Director of SBM Offshore, based in Rotterdam, Netherlands from 2012 to 2013. SBM Offshore is a world leader in Floating Production and Mooring Systems (FPSO) for the oil & gas industry. His responsibilities included the delivery of three complex FPSO projects to a national oil company. From 2005 to 2012, Mr. Paletta was Senior Vice President for Bredero Shaw, first based in Houston, Texas, and then in London, England. Bredero Shaw/ShawCor Group provides pipe coating services to the oil & gas industry. In this role, he developed and managed a business with multiple production facilities in the North/South America and Europe/Middle East/Russia regions.

About ClearStream Energy Services Inc.

With a legacy of excellence and experience stretching back more than 50 years, ClearStream provides solutions to the Energy and Industrial markets including: Oil & Gas, Petrochemical, Mining, Power, Agriculture, Forestry, Infrastructure and Water Treatment. With offices strategically located across Canada and over 3,000 employees, we provide industrial services that keep our clients moving forward. For more information about ClearStream, please visit www.ClearStreamEnergy.ca.

For further information, please contact:

http://globenewswire.com/news-release/2018/08/20/1553792/0/en/ClearStream-Announces-the-Appointment-of-a-New-CEO.html

Himax Technologies, Inc. to Attend Morgan Stanley Asia Pacific Corporate Day on September 3rd – 5th, 2018

TAINAN, Taiwan, Aug. 20, 2018 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today announced that the Company will attend Morgan Stanley Asia Pacific Corporate Day on September 3rd – 5th, 2018 at Morgan Stanley Office in Canary Wharf, London.

The Company management will host one-on-one meetings with interested investors during the conference dates. Conference participation is by invitation only and registration is mandatory. For more information on the conference or to schedule a one-on-one meeting, please contact a Morgan Stanley representative or the conference coordinator at: ryoko.akita@morganstanley.com.

About Himax Technologies, Inc.

Himax Technologies, Inc. (NASDAQ:HIMX) is a fabless semiconductor solution provider dedicated to display imaging processing technologies. Himax is a worldwide market leader in display driver ICs and timing controllers used in TVs, laptops, monitors, mobile phones, tablets, digital cameras, car navigation, virtual reality (VR) devices and many other consumer electronics devices. Additionally, Himax designs and provides controllers for touch sensor displays, in-cell Touch and Display Driver Integration (TDDI) single-chip solutions, LED driver ICs, power management ICs, scaler products for monitors and projectors, tailor-made video processing IC solutions, silicon IPs and LCOS micro-displays for augmented reality (AR) devices and heads-up displays (HUD) for automotive. The Company also offers digital camera solutions, including CMOS image sensors and wafer level optics for AR devices, 3D sensing and machine vision, which are used in a wide variety of applications such as mobile phone, tablet, laptop, TV, PC camera, automobile, security, medical devices and Internet of Things. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Israel and the US. Himax has 2,997 patents granted and 442 patents pending approval worldwide as of June 30, 2018. Himax has retained its position as the leading display imaging processing semiconductor solution provider to consumer electronics brands worldwide.

http://www.himax.com.tw

Forward Looking Statements

Factors that could cause actual events or results to differ materially include, but not limited to, general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortages in supply of key components; changes in environmental laws and regulations; exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2017 filed with the SEC, as may be amended.

Company Contacts:

Jackie Chang, CFO
Himax Technologies, Inc.
Tel: +886-2-2370-3999 Ext.22300
Or
US Tel: +1-949-585-9838 Ext.252
Fax: +886-2-2314-0877
Email: jackie_chang@himax.com.tw
www.himax.com.tw

Ophelia Lin, Investor Relations
Himax Technologies, Inc.
Tel: +886-2-2370-3999 Ext.22202
Fax: +886-2-2314-0877
Email: ophelia_lin@himax.com.tw
 www.himax.com.tw

Ken Liu, Investor Relations
Himax Technologies, Inc.
Tel: +886-2-2370-3999 Ext.22513
Fax: +886-2-2314-0877
Email: ken_liu@himax.com.tw
www.himax.com.tw

Investor Relations – US Representative
Greg Falesnik, Managing Director
MZ North America
Tel: +1-212-301-7130
Email: greg.falesnik@mzgroup.us
www.mzgroup.us 

http://globenewswire.com/news-release/2018/08/20/1553793/0/en/Himax-Technologies-Inc-to-Attend-Morgan-Stanley-Asia-Pacific-Corporate-Day-on-September-3rd-5th-2018.html

MCIG Announces First Hemp Harvest With NYAcres to Begin Soon

JACKSONVILLE, FL, Aug. 20, 2018 (GLOBE NEWSWIRE) — mCig, Inc. (OTCQB: MCIG), a diversified company servicing the legal cannabis markets, announced today that it will begin harvesting its first crop of organic hemp from NYAcres in two to three weeks time.

To oversee the harvest and curing process, MCIG brought on Chadd McKeen , co-author of Idiots Guide: Growing Marijuana and founding partner at Canna Mana Trading Company. With over 12 years of experience in cannabis cultivation, Mr. McKeen will be onsite to jump-start the post-grow process, from the actual mechanics of the harvest to extraction and buyer relationships.

The NYAcres project began in June 2018 as a joint project with FarmOn!Foundation. The 55,000 pound yield of hemp bio-mass will be a huge growth generator for MCIG, its recently launched CBD Market (www.cbd.biz), and new CBD pet line, Artax (www.cbd.biz/portfolio/artax/). 

After harvested and dried, cannabidiol (CBD) will be extracted from the plant source material. The particular strains of hemp grown at NYAcres, Cherry Wine and Berry Blue sourced from the Colorado Hemp Project are known for their high concentrations of CBD. Once extracted, CBD distillate can be used as a component for a diverse range of end user products, from CBD capsules to CBD vape. Initial projections from our Advisory team and based upon their collective years of farm production and development; we expect revenues greater than $10 million annually from the 40-acre yield. With 212 total acres available, the NYAcres Project could potentially yield up to $50 million per year in high demand CBD retail products with this unique approach.

“MCIG will continue to seek strategic partnerships in hemp agriculture,” says Paul Rosenberg, MCIG CEO. “The success of this venture with NYAcres is just the beginning. As the public demand for CBD and other hemp products grows, so does the need for a consistent hemp supply. With true hemp legalization on the horizon in the US, MCIG is well-positioned to capitalize on the growth of this soon-to-be billion dollar industry.”

About MCIG Group (MCIG)

Headquartered in Jacksonville, Florida, mCig, Inc. (MCIG) is a diversified company servicing the legal cannabis, hemp, and CBD markets via its lifestyle brands. mCig, Inc. is committed to being the leading distributor of technology, products, and services to fit the needs of a rapidly expanding industry.

Safe Harbor Statement: 

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company’s products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies.

This release contains a non-GAAP disclosure, EBIDTA, which consists of net income plus interest expense, net, provision for income taxes and depreciation and amortization. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses EBIDTA as a measure of operating performance. EBIDTA should not be considered as a substitute for net income.

Contact:
Paul Rosenberg
CEO
paul@mciggroup.com

http://globenewswire.com/news-release/2018/08/20/1553794/0/en/MCIG-Announces-First-Hemp-Harvest-With-NYAcres-to-Begin-Soon.html

Xtant Medical Announces Appointment of Chief Financial Officer

BELGRADE, MT, Aug. 20, 2018 (GLOBE NEWSWIRE) — Xtant Medical Holdings, Inc. (NYSE American: XTNT), a leader in the development and commercialization of regenerative medicine products and medical devices, today announced the appointment of Kathie Lenzen as chief financial officer, effective August 20, 2018. Ms. Lenzen will report to Carl O’Connell, Xtant’s chief executive officer.

“Ms. Lenzen is an accomplished healthcare executive with significant financial expertise and we are pleased that she is joining our executive management team,” said Carl O’Connell. “In addition to the financial leadership she will provide to the organization, she is a strong strategic, cross-functional leader. Her appointment continues our commitment to building a highly skilled management team.”

Kathie Lenzen brings over 36 years of financial experience to Xtant. Most recently, Ms. Lenzen served as the senior vice president and general manager of Astora Women’s Health division. Prior to being in this position, she was the vice president of finance for American Medical Systems and drove financial performance to ensure EBITDA growth consistently outpaced revenue growth. She is versed in cross-departmental collaboration from a financial perspective, knowledgeable about information systems, restructuring for profitability, and merger and acquisition activities.

“I am excited to join the Xtant team and contribute to the Company’s growth strategy,” said Kathie Lenzen. “Xtant has made considerable progress over the past year, and I look forward to helping the Company continue to transform its business and drive shareholder value.”

About Xtant Medical

Xtant Medical develops, manufactures and markets regenerative medicine products and medical devices for domestic and international markets. Xtant Medical products serve the specialized needs of orthopedic and neurological surgeons, including orthobiologics for the promotion of bone healing, implants and instrumentation for the treatment of spinal disease, tissue grafts for the treatment of orthopedic disorders, and biologics to promote healing following cranial, and foot and ankle surgeries. With core competencies in both biologic and non-biologic surgical technologies, Xtant Medical can leverage its resources to successfully compete in global neurological and orthopedic surgery markets. For further information, please visit www.xtantmedical.com.

Important Cautions Regarding Forward-looking Statements

This press release contains certain disclosures that may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as ‘‘continue,’’ ‘‘expects,’’ ‘‘anticipates,’’ ‘‘intends,’’ ‘‘plans,’’ ‘‘believes,’’ ‘‘estimates,’’ ‘‘strategy,’’ ‘‘will,’’ “can” or similar expressions or the negative thereof. Statements of historical fact also may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others: the ability to increase revenue; the ability to achieve expected results; the ability to remain competitive; the ability to innovate and develop new products; the ability to engage and retain qualified personnel; government and third-party coverage and reimbursement for Company products; the ability to obtain and maintain regulatory approvals; government regulations; product liability claims and other litigation to which we may be subjected; product recalls and defects; timing and results of clinical studies; the ability to obtain and protect Company intellectual property and proprietary rights and operate without infringing the rights of others; the ability to service Company debt and comply with debt covenants; the ability to raise additional financing and other factors. Additional risk factors are listed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 filed with the Securities and Exchange Commission (SEC) on April 2, 2018 and subsequent SEC filings by the Company, including without limitation its most recent Quarterly Report on Form 10-Q for the quarter ended June 30, 2018. Investors are encouraged to read the Company’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The Company undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement.

SOURCE: Xtant Medical Holdings, Inc.

Company Contact Xtant Medical
Molly Mason
mmason@xtantmedical.com
Xtant Medical Holdings, Inc.

http://globenewswire.com/news-release/2018/08/20/1553795/0/en/Xtant-Medical-Announces-Appointment-of-Chief-Financial-Officer.html

HealthLynked Corp. Announces Release of its Android App and New Features for Mobile Users

NAPLES, Fla., Aug. 20, 2018 (GLOBE NEWSWIRE) — HealthLynked Corp. (the “Company”) (OTCQB: HLYK) today announced the launch of its mobile app for Android™ mobile devices that connects patients (users/members) with their healthcare providers. Android OS, a Google product, is Linux-based and is partly open source. Apple Inc.’s mobile operating system is iOS. Android leads the U.S. market with 54.1%, while iOS comes in second at 44.5%, as of June 2018 according to statistics portal Statista. With this release, HealthLynked’s mobile app covers up to 98.6% of the US market.

In addition to the Android release, the Company has added additional features to its mobile apps for both Apple and Android users. These features include:

  1. Newsfeeds from over 150 different medical topics that the user can customize to their specific interests;
  2. The ability for users to take photos of medical records from their mobile device and upload to their Personal Health Record Archive; and
  3. Access control functions that allow users to share medical records they select with the healthcare providers they choose.

The Company’s application allows members to access their HealthLynked profile and medical information while on the go, eliminating redundant paperwork and the need to carry physical medical records and insurance cards to physician office visits.

Patients’ medical records can be uploaded to their personal, secure cloud storage via image capture from their mobile device, eFax, or Application Programming Interface “API” with participating Electronic Health Records “EHRs.” Once a record is uploaded, users have complete control over who can access their medical information and the length of time each healthcare provider has access to which records.

Users may also link to other family members, such as elderly parents and relatives, and access medical information via a two-way authentication process called “Lynking.”  This allows healthcare surrogates acting as caregivers to closely monitor and participate in healthcare decisions.

In addition to the Personal Health Record “PHR” storing features of the HealthLynked Network, the Company’s mobile app allows for easy scheduling of appointments for nearly 900,000 healthcare providers throughout the U.S.  Location services allows users to select providers and filter results by geo-location, gender, zip code, in-network or out-of-network services and medical specialty.

For a physician provider, the mobile app serves as a tool to access more complete medical records of the patient including records from all the other healthcare providers that a patient is seeing, working in conjunction with the provider’s existing EHR.

“We released our OS version of our app for iPhone users on June 5, 2018 with great success and we are excited to announce the release of our Android version to serve the large number of Android devices in the United States. With this release we have incorporated more of our network functions into both our Apple and Android mobile apps. We recognize that patients are becoming more mobile and the need to access their health information via mobile devices is important to our objective to increase timely access to medical information.” 
– Michael Dent M.D. CEO

The app is currently available on the Google Store and is compatible with Android 6.0 / Marshmallow and later. To download, visit: https://play.google.com/store/apps/details?id=com.healthlynked

About HealthLynked Corp.

HealthLynked Corp. provides a solution for both patient members and providers to improve healthcare through the efficient exchange of medical information. The HealthLynked Network is a cloud-based platform that allows members to connect with their healthcare providers and take control of their medical information. Members enter their medical information, including medications, allergies, past surgeries and personal health records, in one convenient online and secure location, free of charge.

Participating healthcare providers can connect with their current and future patients through the system. Other benefits to providers include the ability to utilize the HealthLynked marketing tools to connect with their active and inactive patients to improve patient retention, access more accurate and current patient information, provide more efficient online scheduling and to fill last minute cancellations using our “real time appointment scheduling” mobile application. Healthcare providers pay a monthly fee to access these HealthLynked services.

For additional information about HealthLynked Corp. visit www.healthlynked.com

Forward Looking Statements

Forward-Looking Statements in this press release, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by our management, and us are inherently uncertain. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. Certain risks and uncertainties applicable to our operations and us are described in the “Risk Factors” section of our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q and in other reports we have filed with the U.S. Securities and Exchange Commission. These reports are available at www.sec.gov.

Company Contact:
George O’Leary
Chief Financial Officer
goleary@healthlynked.com 

Investor Relations contact:
Jim Hock
Hanover International Inc.
Investor Relations
jh@hanoverinternationalinc.com

 

http://globenewswire.com/news-release/2018/08/20/1553775/0/en/HealthLynked-Corp-Announces-Release-of-its-Android-App-and-New-Features-for-Mobile-Users.html

Teekay LNG Partners Mandates Banks to Arrange Fixed Income Investor Call

HAMILTON, Bermuda, Aug. 20, 2018 (GLOBE NEWSWIRE) — Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP) has mandated DNB Markets and Nordea as Global Coordinators and Joint Bookrunners and Danske Bank and Swedbank as Joint Bookrunners to arrange a Fixed Income Investor Call on Tuesday 21 August 2018. Subject to inter alia market conditions, a NOK-denominated senior unsecured bond issue with a five-year tenor may follow.

A portion of the bonds may be offered in the United States to qualified institutional investors (or QIBs) as defined in Rule 144A of the U.S. Securities Act of 1933 (the Securities Act) concurrently with bonds offered outside of the United States pursuant to Regulation S of the Securities Act.

This press release is neither an offer to sell nor a solicitation of an offer to buy any of the bonds or any other security of Teekay LNG. The bonds have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act), or any state securities laws. Unless so registered, the bonds may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

The statements in this press release that are not historical facts may be forward-looking statements, and involve risks and uncertainties that could cause the outcome to be materially different. Teekay LNG undertakes no obligation to revise or update any forward looking statements, unless required to do so under applicable securities laws.

About Teekay LNG

Teekay LNG Partners is one of the world’s largest independent owners and operators of LNG carriers, providing LNG, LPG and crude oil marine transportation services primarily under long-term, fixed-rate charter contracts through its interests in 49 LNG carriers (including nine newbuildings), 29 LPG/Multigas carriers and four conventional tankers. The Partnership’s interests in these vessels range from 20 to 100 percent.  In addition, the Partnership owns a 30 percent interest in a regasification terminal, which is currently under construction. Teekay LNG Partners L.P. is a publicly-traded master limited partnership formed by Teekay Corporation (NYSE:TK) as part of its strategy to expand its operations in the LNG and LPG shipping sectors.

Teekay LNG Partners’ common units and preferred units trade on the New York Stock Exchange under the symbols “TGP”, “TGP PR A” and “TGP PR B”, respectively.

For Investor Relations
enquiries contact:

Ryan Hamilton
Tel: +1 (604) 609-2963
Email: ryan.hamilton@teekay.com
Website: www.teekay.com

This information is subject of the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act

http://globenewswire.com/news-release/2018/08/20/1553746/0/en/Teekay-LNG-Partners-Mandates-Banks-to-Arrange-Fixed-Income-Investor-Call.html

Blockchain Foundry Announces Consulting Agreement with Global CPQ

TORONTO, Aug. 20, 2018 (GLOBE NEWSWIRE) — Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN) (FWB: 8BF) is pleased to announce that it has entered into a pre-solution design and ICO (Initial Coin Offering) consulting agreement (the “Agreement”) with Global CPQ. Global CPQ is a US-based company that is focused on revolutionizing the Enterprise CPQ (Configure Price Quote) space by developing a next-generation crypto-compatible Blockchain CPQ and Pricing Intelligence solution. Global CPQ’s aim is to equip sales teams with intelligent software that allows users to “spend less time quoting and more time closing” (https://www.globalcpq.com/).

BCF will provide Global CPQ with the knowledge base to create its ICO and the architecture to begin building blockchain-based platforms; leveraging the Syscoin blockchain. “We are extremely excited about our strategic partnership with the team at Blockchain Foundry,” stated Pete Hogan, CEO of Global CPQ. “Our team has extensive experience in the technology consulting industry, and as a result we have very high standards when it comes to choosing a partner. The team at BCF is truly the best in the industry when it comes to building enterprise blockchain solutions, and their experts consistently deliver well beyond our expectations. We are very excited about the future of Global CPQ and we view this partnership with BCF to be a vital part of our long-term business strategy.”

The Global CPQ Platform is designed to streamline the enterprise business-to-business (B2B) quote-to-cash process and will integrate seamlessly with Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) systems. Global CPQ’s Syscoin blockchain-based platform utilizes Syscoin’s immutable blockchain technology to provide the platform with quick, seamless transactions, enabling individuals to buy and sell with cryptocurrency or fiat in an encrypted, secure environment.

“We are excited to be assisting Global CPQ with its ICO and blockchain ventures,” stated Sebastian Schepis, CIO of Blockchain Foundry. “We believe we will continue to see businesses migrating towards blockchain-based technology solutions in the coming year, and enjoy having the opportunity to share our knowledge with this great company.”

About Blockchain Foundry Inc.

Blockchain Foundry develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to incorporate blockchain technology in their businesses.

Blockchain Foundry Media Contact Information:

Christopher Marsh
Chief Financial Officer
(416) 583-1696

About Global CPQ

Global CPQ is building a next-generation crypto-compatible Enterprise Blockchain CPQ solution. The Global CPQ Platform will be powered by Syscoin, integrate seamlessly with CRM and ERP systems, and is designed to streamline the enterprise B2B quote-to-cash process in our growing global crypto economy.

The Global CPQ Platform is a ground-breaking Pricing Intelligence solution that will enable enterprise businesses to price complex product orders for customers using cryptocurrencies. The Global CPQ platform will allow large businesses to store and privately access B2B transaction and contract details by strategically combining the immutable Syscoin blockchain ledger with industry standard secure private data storage systems.

Global CPQ Media Contact Information:

InvestorRelations@globalcpq.com

Forward-Looking Information

Certain portions of this press release contain “forward-looking information” within the meaning of applicable Canadian securities legislation, which is also referred to as “forward-looking statements”, which may not be based on historical fact. Wherever possible, words such as “will”, “plans,” “expects,” “targets,” “continues”, “estimates,” “scheduled,” “anticipates,” “believes,” “intends,” “may,” “could,” “would” or might, and the negative of such expressions or statements that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved, have been used to identify forward-looking information.

Forward-looking statements should not be read as guarantees of future events, future performance or results, and will not necessarily be accurate indicators of the times at, or by which, such events, performance or results will be achieved, if achieved at all.  Readers should not place undue reliance on such forward-looking statements, as they reflect management’s current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by BCF are inherently subject to significant business, economic, regulatory, competitive, political and social uncertainties and contingencies. Many factors could cause BCF’s actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements.

http://globenewswire.com/news-release/2018/08/20/1553740/0/en/Blockchain-Foundry-Announces-Consulting-Agreement-with-Global-CPQ.html

Petroleum Resources Act in Quebec coming into force

THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS

CALGARY, Alberta , Aug. 20, 2018 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today that the Government of Quebec announced its plans to officially implement or put into practice the Petroleum Resources Act (the “Act”). The Act will govern the development of hydrocarbons in the province of Quebec.

The Act was passed as law in December 2016 by the Liberal government as a result of the adoption of Bill 106, “An Act to Implement the 2030 Energy Policy and to Amend Various Legislative Provisions in December 2016.” The industry recognized in 2009 when the Quebec Utica discovery was confirmed that a modern hydrocarbon law was a critical prerequisite to successful development.

Michael Binnion, President and Chief Executive Officer of Questerre, commented, “Years ago, we said that a new hydrocarbon law was a key pre-condition for development. After over 100 independent studies and dozens of public consultations we now have a fundamental achievement that was made with bipartisan support in Quebec. I can’t exaggerate how important this step is for our project.”

The Quebec Government also announced that it will proceed with the enactment of regulations that include last minute restrictions on oil and gas activities and hydraulic fracturing. As detailed in the brief Questerre filed with the Government and available online, these specific restrictions in the regulations are ultra vires, or beyond the legal power and authority of the government, contrary to the independent scientific studies, and moreover they do not meet the consultation requirements detailed in the Quebec government’s green book for social acceptability. 

On these technical grounds, Questerre has given legal counsel instructions to initiate proceedings that challenge the validity of these restrictions, requesting they stay and ultimately set aside these specific regulations within 15 days of the Government publishing the regulations in the official Gazette.

Questerre believes that the remainder of the regulations while stricter than other jurisdictions are generally workable. The Company anticipates pilot activities will help to refine and make needed amendments for improved effectiveness. The new regulations are also a pre-requisite to the Company closing its previously announced letter of intent to consolidate its assets in Quebec and regain operatorship. For more information, please see the Company’s press release dated June 4, 2018.

Mr. Binnion added, “We had anticipated that social acceptability was the next step in our step by step process. We have been making excellent progress on this front. Municipalities are very interested in our 3% profit sharing agreement and public opinion is solidly in favour of our Clean Gas Initiative according to the IPSOS poll. The last-minute electioneering by the Government has added a new legal challenge for us which we are confident in overcoming. After the election on October 1, 2018, we are looking forward to working with the government to align the regulations with the enacted legislation.“

Questerre Energy Corporation is leveraging its expertise gained through early exposure to shale and other non-conventional reservoirs. The Company has base production and reserves in the tight oil Bakken/Torquay of southeast Saskatchewan. It is bringing on production from its lands in the heart of the high-liquids Montney shale fairway. It is a leader on social license to operate issues for its Utica shale gas discovery in the St. Lawrence Lowlands, Quebec. It is pursuing oil shale projects with the aim of commercially developing these massive resources.

Questerre is a believer that the future success of the oil and gas industry depends on a balance of economics, environment and society. We are committed to being transparent and are respectful that the public must be part of making the important choices for our energy future.

Advisory Regarding Forward-Looking Statements

This news release contains certain statements which constitute forward-looking statements or information (“forward-looking statements”) including the Company’s views that new hydrocarbon regulations was and are a pre-requisite for development of the Quebec Utica, the implementation of the Petroleum Resources Act is an important step forward for the Company’s project, that the new regulations are among other things, beyond the legal power and authority of the government, the Company’s instructions to legal counsel to initiate legal proceedings, the Company’s view that while stricter than other jurisdictions the remainder of the regulations are generally workable, the Company’s view that pilot activities will help refine and make amendments to the regulations to improve effectiveness, the Company’s views that it has been making progress on securing social acceptability, its views that municipalities are interested in its profit sharing proposal, that public opinion based on the IPSOS poll is solidly in favor it the Company’s Clean Gas Initiative, the Company’s view that it will have a positive outcome of the legal challenge associated with the regulations relating to hydraulic fracturing and its plan to work with the next government to align the regulations with the enacted legislation. Although Questerre believes that the expectations reflected in our forward-looking statements are reasonable, our forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information available to Questerre.  Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements.  As such, readers are cautioned not to place undue reliance on the forward-looking information, as no assurance can be provided as to future results, levels of activity or achievements. The risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our Annual Information Form and other documents available at www.sedar.com.  Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Questerre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise.  The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

For further information, please contact: Questerre Energy Corporation
Jason D’Silva, Chief Financial Officer
(403) 777-1185 | (403) 777-1578 (FAX) |Email:

http://globenewswire.com/news-release/2018/08/20/1553700/0/en/Petroleum-Resources-Act-in-Quebec-coming-into-force.html