all prices
| price | high | low | % | ||
|---|---|---|---|---|---|
| Dow Jones | 29152 | 29190 | 29126 | 0.06 % | |
| S&P500 | 3319 | 3323 | 3316 | 0.04 % | |
| Nasdaq 100 | 9181 | 9200 | 9170 | 0.07 % | |
| Euro Stoxx 50 | 3756 | 3765 | 3752 | -0.14 % | |
| FTSE 100 | 7565 | 7576 | 7561 | -0.07 % | |
| CAC40 | 5999 | 6071 | 5998 | -0.5 % | |
| DAX | 13467 | 13503 | 13455 | -0.21 % | |
| Hong Kong HSI | 27840 | 28098 | 27815 | -0.95 % | |
| Nikkei 225 | 23806 | 23891 | 23761 | -0.04 % |
Live stock markets prices
- 15 min
- 1H
- 4H
- Daily
| Dow Jones | 29147 | 0.04% |
|---|---|---|
| S&P500 | 3318 | 0.03% |
| Nasdaq 100 | 9180 | 0.06% |
| FTSE 100 | 7564 | -0.08% |
| CAC40 | 5999 | -0.5% |
|---|---|---|
| Nikkei 225 | 23798 | -0.07% |
| Euro Stoxx 50 | 3755 | -0.16% |
| DAX | 13464 | -0.23% |
Latest news
| SHAREHOLDER ALERT: CLAIMSFILER REMINDS BAX, WBAI INVESTORS of Lead Plaintiff Deadline in Class Action Lawsuits |
| SHAREHOLDER ALERT: CLAIMSFILER REMINDS BZUN, FCAU, PRU, REAL INVESTORS of Lead Plaintiff Deadline in Class Action Lawsuits |
| SHAREHOLDER ALERT: CLAIMSFILER REMINDS FSCT, MAT, MYL, TCNNF INVESTORS of Lead Plaintiff Deadline in Class Action Lawsuits |
| CORV FINAL DEADLINE: Zhang Investor Law Reminds Investors of Deadline in Securities Class Action Lawsuit Against Correvio Pharma Corp. – CORV |
| Zai Lab Announces Pricing of Public Offering of American Depositary Shares |
| Autolus Announces Pricing of Public Offering |
| Baytex Announces Pricing of US$500 Million Private Placement Offering of Senior Notes |
| Xenon Pharmaceuticals Announces Pricing of $60.0 Million Public Offering of Common Shares |
| SI-BONE Announces Pricing of Public Offering of Common Stock |
| China Gold International Resources Corp. Ltd. Provides Preliminary 2019 Production results and 2020 Outlook |
| Dream Industrial REIT Announces European Expansion in Germany and the Netherlands, Strategy to Reduce Cost of Debt and Additions to its Management Team |
| ACWA and Ducks Unlimited Release Joint Statement Identifying Voluntary Agreements as the Best Plan Forward for California’s Bay-Delta |
| Coastal Community Bank Announces Addition of Chief Risk Officer |
| Diamanti Expands Executive Leadership Team: Christina Monzon-Le Named Vice President, People |
| Myriad Submits sPMA for myChoice® CDx with Zejula® in First-Line Platinum Responsive Advanced Ovarian Cancer |
| Step Energy Services Ltd. Provides a Strategic Business Update, an Update to Its Amended Credit Facilities and Fourth Quarter and Year End 2019 Conference Call Details |
| HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Urges 500.com (WBAI) Investors to Contact Its Attorneys Immediately, Securities Class Action Filed Against WBAI |
| HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Investors in Opera Limited (OPRA) Who Have Suffered Significant Losses to Contact its Attorneys: Firm Investigating Possible Securities Fraud |
| Avoya Travel Unveils New Innovation Center to Fuel Future Growth |
| Justice and Public Safety Ministers from across the country meet to work together on issues important to Canadians |
SHAREHOLDER ALERT: CLAIMSFILER REMINDS BAX, WBAI INVESTORS of Lead Plaintiff Deadline in Class Action Lawsuits
NEW ORLEANS, Jan. 22, 2020 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors of pending deadlines in the following securities class action lawsuits:
Baxter International Inc. (BAX)
Class Period: 2/21/2019 - 10/23/2019
Lead Plaintiff Motion Deadline: January 24, 2020
SECURITIES FRAUD
To learn more, visit https://www.claimsfiler.com/cases/view-baxter-international-inc-securities-litigation-3
500.com Limited (WBAI)
Class Period: 4/27/2018 - 12/31/2018
Lead Plaintiff Motion Deadline: March 16, 2020
SECURITIES FRAUD
To learn more, visit https://www.claimsfiler.com/cases/view-500com-limited-securities-litigation    Â
If you purchased shares of the above companies and would like to discuss your legal rights and your right to recover for your economic loss, you may, without obligation or cost to you, contact us toll-free (844) 367-9658 or visit the case links above.
If you wish to serve as a Lead Plaintiff in the class action, you must petition the Court on or before the Lead Plaintiff Motion deadline.
About ClaimsFiler
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
To learn more about ClaimsFiler, visit www.claimsfiler.com
SHAREHOLDER ALERT: CLAIMSFILER REMINDS BZUN, FCAU, PRU, REAL INVESTORS of Lead Plaintiff Deadline in Class Action Lawsuits
NEW ORLEANS, Jan. 22, 2020 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors of pending deadlines in the following securities class action lawsuits:
The RealReal, Inc. (REAL)
Class Period: shares issued in connection with its June 2019 Initial Public Offering.
Lead Plaintiff Motion Deadline: January 24, 2020
MISLEADING PROSPECTUS
To learn more, visit https://www.claimsfiler.com/cases/view-the-realreal-inc-securities-litigation
Prudential Financial, Inc. (PRU)
Class Period: 2/15/2019 - 8/2/2019
Lead Plaintiff Motion Deadline: January 27, 2020
SECURITIES FRAUD
To learn more, visit https://www.claimsfiler.com/cases/new-york-se-pru
Fiat Chrysler Automobiles N.V. (FCAU)
Class Period: 2/26/2016 - 11/20/2019
Lead Plaintiff Motion Deadline: January 31, 2020
SECURITIES FRAUD
To learn more, visit  https://www.claimsfiler.com/cases/new-york-se-fcau        Â
Baozun Inc. (BZUN)
Class Period: 3/6/2019 - 11/20/2019
Lead Plaintiff Motion Deadline: February 10, 2020
SECURITIES FRAUD
To learn more, visit https://www.claimsfiler.com/cases/view-baozun-inc-american-depositary-shares-securities-litigation
If you purchased shares of the above companies and would like to discuss your legal rights and your right to recover for your economic loss, you may, without obligation or cost to you, contact us toll-free (844) 367-9658 or visit the case links above.
If you wish to serve as a Lead Plaintiff in the class action, you must petition the Court on or before the Lead Plaintiff Motion deadline.
About ClaimsFiler
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
To learn more about ClaimsFiler, visit www.claimsfiler.com
SHAREHOLDER ALERT: CLAIMSFILER REMINDS FSCT, MAT, MYL, TCNNF INVESTORS of Lead Plaintiff Deadline in Class Action Lawsuits
NEW ORLEANS, La., Jan. 22, 2020 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors of pending deadlines in the following securities class action lawsuits:
Mylan N.V. (MYL)
Class Period: 5/9/2018 - 5/6/2019
Lead Plaintiff Motion Deadline: February 14, 2020
SECURITIES FRAUD
To learn more, visit https://www.claimsfiler.com/cases/nasdaq-myl-2Â Â Â
Mattel, Inc. (MAT)
Class Period: 10/26/2017 - 8/8/2019
Lead Plaintiff Motion Deadline: February 24, 2020
SECURITIES FRAUD
To learn more, visit https://www.claimsfiler.com/cases/nasdaq-mat-3Â Â Â Â
Trulieve Cannabis Corp. (TCNNF)
Class Period: 9/25/2018 - 12/17/2019
Lead Plaintiff Motion Deadline: February 28, 2020
SECURITIES FRAUD
To learn more, visit https://www.claimsfiler.com/cases/view-trulieve-cannabis-corp-securities-litigation
Forescout Technologies, Inc. (FSCT)
Class Period: 2/7/2019 - 10/9/2019
Lead Plaintiff Motion Deadline: March 2, 2020
SECURITIES FRAUD
To learn more, visit https://www.claimsfiler.com/cases/view-forescout-technologies-inc-securities-litigation
 Â
If you purchased shares of the above companies and would like to discuss your legal rights and your right to recover for your economic loss, you may, without obligation or cost to you, contact us toll-free (844) 367-9658 or visit the case links above.
If you wish to serve as a Lead Plaintiff in the class action, you must petition the Court on or before the Lead Plaintiff Motion deadline.
About ClaimsFiler
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
To learn more about ClaimsFiler, visit www.claimsfiler.com
CORV FINAL DEADLINE: Zhang Investor Law Reminds Investors of Deadline in Securities Class Action Lawsuit Against Correvio Pharma Corp. – CORV
NEW YORK, Jan. 22, 2020 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a securities class action lawsuit on behalf of shareholders who bought shares Correvio Pharma Corp. (NASDAQ: CORV) between October 23, 2018 and December 5, 2019, inclusive (the âClass Periodâ).
If you wish to serve as lead plaintiff, you must move the Court no later than February 10, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to join the case go to http://zhanginvestorlaw.com/join-action-form/?slug=correvio-pharma-corp&id=2131 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email info@zhanginvestorlaw.com, slee@zhanginvestorlaw.com for information on the class action.
å¦ææ¨æ³å å ¥è¿ä¸ªéä½è¯è®¼æ¡ï¼è¯·å¨è¿éæ交æ¨çä¿¡æ¯ãhttp://zhanginvestorlaw.com/join-action-form/?slug=correvio-pharma-corp&id=2131
According to the case, defendants made false and/or misleading statements and/or failed to disclose   (1) the data supporting the Resubmitted New Drug Application (âNDAâ) for Brinavess did not minimize the significant health and safety issues observed in connection with the drugâs original NDA; (2) the foregoing substantially diminished the likelihood that the U.S. Food and Drug Administration would approve the Resubmitted NDA; and (3) as a result, Correvioâs public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.
Zhang Investor Law P.C.
99 Wall Street, Suite 232
New York, New York 10005
info@zhanginvestorlaw.com
tel: (800) 991-3756
Zai Lab Announces Pricing of Public Offering of American Depositary Shares
SHANGHAI, China, and SAN FRANCISCO, Jan. 22, 2020 (GLOBE NEWSWIRE) -- Zai Lab Limited (âZai Labâ or the âCompanyâ) (NASDAQ: ZLAB), a China and U.S.-based innovative commercial stage biopharmaceutical company, today announced the pricing of its underwritten public offering of 5,500,000 American depositary shares (âADSsâ), each representing one ordinary share of the Company (the âPrimary ADS Offeringâ), at a price of US$47.50 per ADS. In addition, QM11 Limited, a shareholder of the Company, is offering 500,000 ADSs of the Company (the âSecondary ADS Offeringâ and together with the Primary ADS Offering, the âOfferingâ) at the same price. The Offering is expected to close on January 27, 2020, subject to customary closing conditions.
The gross proceeds to Zai Lab from the Primary ADS Offering, before deducting underwriting discounts and commissions and other offering expenses, are expected to be approximately US$261.3 million. Zai Lab will not receive any proceeds from the sale of ADSs by QM11 Limited.
In addition, Zai Lab and QM11 Limited have granted the underwriters a 30-day option to purchase up to an additional 800,000 and 100,000 ADSs, respectively at the public offering price, less underwriting discounts and commissions. Assuming the over-allotment option is not exercised, QM11 Limited will own approximately 13.53% of the Companyâs share capital immediately following the Offering. Assuming full exercise of the over- allotment option, QM11 Limited will own approximately 12.15% of the Companyâs share capital immediately following the Offering.
J.P. Morgan, Citigroup, Goldman Sachs & Co. LLC and SVB Leerink are acting as joint book-running managers and Guggenheim Securities is acting as lead manager for the Offering.
The ADSs are offered pursuant to a shelf registration statement on Form F-3ASR, which became automatically effective upon filing with the U.S. Securities and Exchange Commission (âSECâ) on March 29, 2019 and was subsequently amended and became automatically effective upon filing with the SEC on January 21, 2020.
The Offering is being made only by means of a prospectus supplement and an accompanying prospectus included in Form-3ASR. The registration statement on Form F-3ASR and the prospectus supplement are available at the SECâs website at: http://www.sec.gov. Copies of the prospectus supplement and the accompanying prospectus may be obtained from: (i) J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-866-803-9204 or by email at prospectus-eq_fi@jpmchase.com, (ii) Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 1-800-831-9146, (iii) Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526, by facsimile at (212) 902-9316 or by email at prospectus-ny@ny.email.gs.com or (iv) SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at 1-800-808-7525 ex. 6132 or by email at syndicate@svbleerink.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy ADSs or any other securities, nor shall there be any sale of ADSs in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Zai Lab
Zai Lab (NASDAQ:ZLAB) is a China and U.S.-based innovative commercial stage biopharmaceutical company focused on bringing transformative medicines for cancer, infectious and autoimmune diseases to patients in China and around the world. The companyâs experienced team has secured partnerships with leading global biopharma companies, generating a broad pipeline of innovative drug candidates targeting the fast-growing segments of Chinaâs pharmaceutical market and addressing unmet medical needs. Zai Labâs vision is to become a fully integrated biopharmaceutical company, discovering, developing, manufacturing and commercializing its partnersâ and its own products in order to impact human health worldwide.
Zai Lab Forward-Looking Statements
This press release includes certain disclosures which contain âforward-looking statements.â You can identify forward-looking statements because they contain words such as âanticipateâ and âexpected.â Forward-looking statements are based on Zai Labâs current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in Zai Labâs Annual Report on Form 20-F for the fiscal year ended December 31, 2018 and its other filings with the U.S. Securities and Exchange Commission. Zai Lab undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
For more information, please contact:
ZAI LAB CONTACTS:
Zai Lab
Billy Cho, CFO
+86 137 6151 2501
billy.cho@zailaboratory.com
Media: Ryo Imai / Robert Flamm, Ph.D.
Burns McClellan, on behalf of Zai Lab
212-213-0006 ext. 315 / 364
rimai@burnsmc.com / rflamm@burnsmc.com
Investors: Pete Rahmer / Mike Zanoni
Endurance Advisors, on behalf of Zai Lab
415-515-9763 / 610-442-8570
prahmer@enduranceadvisors.com / mzanoni@enduranceadvisors.com
Zai Lab Limited
Autolus Announces Pricing of Public Offering
LONDON, Jan. 22, 2020 (GLOBE NEWSWIRE) -- Autolus Therapeutics plc (Nasdaq: AUTL), a clinical-stage biopharmaceutical company developing next-generation programmed T cell therapies, today announced the pricing of an underwritten public offering in the United States of 7,250,000 American Depositary Shares (âADSsâ) representing 7,250,000 ordinary shares at a public offering price of $11.00 per ADS, for total gross proceeds of approximately $80.0 million. All ADSs sold in the offering were offered by Autolus. In addition, Autolus has granted the underwriters a 30-day option to purchase up to an additional 1,087,500 ADSs at the public offering price, less underwriting discounts and commissions. The offering is expected to close on January 27, 2020, subject to customary closing conditions.
J.P. Morgan Securities LLC and Jefferies LLC are acting as joint book-running managers for the offering. William Blair & Company, L.L.C. is acting as lead manager. H.C. Wainwright & Co., LLC is acting as co-manager.
The securities are being offered pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (âSECâ). A preliminary prospectus supplement to the prospectus describing the terms of the offering was filed with the SEC on January 22, 2020, and a final prospectus supplement will be filed with the SEC. The offering will be made only by means of a written prospectus and prospectus supplement that form a part of the registration statement, which, for the avoidance of doubt, will not constitute a "prospectus" for the purposes of the Regulation (EU) 2017/1129 and has not been reviewed by any competent authority in any member state in the European Economic Area. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained for free from either of the joint book-running managers for the offering, J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at +1 866 803 9204 or by email at prospectus-eq_fi@jpmchase.com; or Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at +1 877 821 7388 or by email at Prospectus_Department@Jefferies.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
About Autolus
Autolus is a clinical-stage biopharmaceutical company developing next-generation, programmed T cell therapies for the treatment of cancer. Using a broad suite of proprietary and modular T cell programming technologies, the company is engineering precisely targeted, controlled and highly active T cell therapies that are designed to better recognize cancer cells, break down their defense mechanisms and eliminate these cells. Autolus has a pipeline of product candidates in development for the treatment of hematological malignancies and solid tumors.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the âsafe harborâ provisions of the Private Securities Litigation Reform Act of 1995, including statements with regard to Autolusâ expectations regarding the completion of the proposed securities offering. Words such as âanticipates,â "believes," âexpects,â "intends," "projects," "anticipates," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and no assurance can be given that the proposed securities offering discussed above will be consummated on the terms described or at all. Completion of the proposed offering and the terms thereof are subject to numerous factors, many of which are beyond the control of Autolus, including, without limitation, market conditions, failure of customary closing conditions and the risk factors and other matters set forth in Autolusâ Annual Report on Form 20-F for the year ended September 30, 2018 and other filings Autolus makes with the SEC from time to time. Autolus undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Contacts:
Lucinda Crabtree, Ph.D.
Vice President, Investor Relations and Corporate Communications
+44 (0)7587 372 619
l.crabtree@autolus.com
Julia Wilson
+44 (0)7818 430877
j.wilson@autolus.com
Susan A Noonan
S.A. Noonan Communications, LLC
+1 212 966 3650
susan@sanoonan.com
Baytex Announces Pricing of US$500 Million Private Placement Offering of Senior Notes
CALGARY, Alberta, Jan. 22, 2020 (GLOBE NEWSWIRE) -- Baytex Energy Corp. (âBaytexâ) (TSX, NYSE: BTE) announced today the pricing of its previously announced private placement offering (the âOfferingâ) of US$500 million aggregate principal amount of senior unsecured notes due 2027 (the "Notes"). The Notes will be issued at par, bear interest at a rate of 8.75% per annum and mature on April 1, 2027. The Notes will pay interest semi-annually in arrears. The Offering is subject to customary closing conditions and is expected to close on February 5, 2020.
Baytex intends to use the net proceeds from the Offering and its existing unutilized credit facilities to redeem US$400 million aggregate principal amount of its outstanding 5.125% notes due June 1, 2021 (the â2021 Notesâ) and $300 million aggregate principal amount of its outstanding 6.625% debentures due July 19, 2022 (the â2022 Debenturesâ).
Pursuant to the terms of the indenture governing the 2021 Notes, Baytex has issued a conditional notice of redemption to redeem all of the outstanding 2021 Notes, which redemption will be conditional upon the successful completion of the Offering. In addition, pursuant to the terms of the indenture governing the 2022 Debentures, Baytex intends to issue a notice of redemption to redeem all of the outstanding 2022 Debentures upon the successful completion of the Offering.
The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The Notes are being offered only to âqualified institutional buyersâ in the United States pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act. In Canada, the notes are to be offered and sold on a private placement basis in certain provinces of Canada. This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. This press release does not constitute an offer to purchase the 2021 Notes or the 2022 Debentures.
Advisory Regarding Forward-Looking Statements
In the interest of providing Baytex's shareholders and potential investors with information regarding Baytex, including management's assessment of Baytex's future plans and operations, certain statements in this press release are "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking statements"). In some cases, forward-looking statements can be identified by terminology such as "anticipate", "believe", "continue", "could", "estimate", "expect", "forecast", "intend", "may", "objective", "ongoing", "outlook", "potential", "project", "plan", "should", "target", "would", "will" or similar words suggesting future outcomes, events or performance. The forward-looking statements contained in this press release speak only as of the date thereof and are expressly qualified by this cautionary statement.
Specifically, this press release contains forward-looking statements relating to but not limited to: the terms and timing of the Offering, the use of proceeds of the Offering and the intention to and timing of the redemption of the 2021 Notes and 2022 Debentures.
These forward-looking statements are based on certain key assumptions regarding, among other things, the completion of the Offering. Readers are cautioned that such assumptions, although considered reasonable by Baytex at the time of preparation, may prove to be incorrect.
Actual results will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Such factors include, but are not limited to: the Offering may not be completed on the terms contemplated or at all; the intended use of proceeds of the Offering; and other factors, many of which are beyond the control of Baytex. Additional risk factors are discussed in our Annual Information Form, Annual Report on Form 40-F and Management's Discussion and Analysis for the year ended December 31, 2018, as filed with Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission.
The above summary of assumptions and risks related to forward-looking statements has been provided in order to provide shareholders and potential investors with a more complete perspective on Baytexâs current and future operations and such information may not be appropriate for other purposes.
There is no representation by Baytex that actual results achieved will be the same in whole or in part as those referenced in such forward-looking statements and Baytex does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
All amounts in this press release are stated in Canadian dollars unless otherwise specified.
Baytex Energy Corp.
Baytex Energy Corp. is an oil and gas corporation based in Calgary, Alberta. Baytex is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Approximately 84% of Baytexâs production is weighted toward crude oil and natural gas liquids. Baytexâs common shares trade on the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE.
For further information about Baytex, please contact:
Brian Ector, Vice President, Capital Markets
Toll Free Number: 1-800-524-5521
Email: investor@baytexenergy.com
Xenon Pharmaceuticals Announces Pricing of $60.0 Million Public Offering of Common Shares
BURNABY, British Columbia, Jan. 22, 2020 (GLOBE NEWSWIRE) -- Xenon Pharmaceuticals Inc. (Nasdaq:XENE), a clinical stage biopharmaceutical company, today announced the pricing of its underwritten public offering of 3,750,000 common shares pursuant to its existing shelf registration statement at a public offering price of $16.00 per share. The gross proceeds to Xenon from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Xenon, are expected to be approximately $60.0 million. In addition, Xenon has granted to the underwriters of the offering an option for a period of 30 days to purchase up to an additional 562,500 common shares at the public offering price, less the underwriting discounts and commissions. The offering is expected to close on or about January 27, 2020, subject to customary closing conditions.
Jefferies, Stifel and Guggenheim Securities are acting as joint book-running managers for the offering.
A shelf registration statement relating to the common shares offered in the public offering described above was filed with the Securities and Exchange Commission (SEC) on August 6, 2019 and declared effective by the SEC on August 15, 2019. The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering have been filed with the SEC and is available on the SECâs website at www.sec.gov. A final prospectus supplement and accompanying prospectus will be filed with the SEC. When available, copies of the final prospectus supplement and the accompanying prospectus may also be obtained by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by email at Prospectus_Department@Jefferies.com, or by phone at (877) 821- 7388; from Stifel, Nicolaus & Company, Incorporated, One Montgomery Street, Suite 3700, San Francisco, California 94104, Attn: Syndicate, or by phone at (415) 364-2720 or by email at syndprospectus@stifel.com; or from Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.
No securities are being offered or sold, directly or indirectly, in Canada or to any resident of Canada
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
Safe Harbor Statement
This press release contains 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 and the Private Securities Litigation Reform Act of 1995 and Canadian securities laws. These forward-looking statements are not based on historical fact, and include statements regarding the anticipated closing of the public offering. These forward-looking statements are based on current assumptions that involve risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from those expressed or implied by such forward-looking statements. These risks and uncertainties, many of which are beyond our control, include, but are not limited to, uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, as well as the other risks identified in our filings with the SEC and the securities commissions in British Columbia, Alberta and Ontario. These forward-looking statements speak only as of the date hereof and we assume no obligation to update these forward-looking statements, and readers are cautioned not to place undue reliance on such forward-looking statements.
Xenon Investor/Media Contact:
Jodi Regts
Xenon Pharmaceuticals Inc.
Phone: 604.484.3353
Email: investors@xenon-pharma.com
SI-BONE Announces Pricing of Public Offering of Common Stock
SANTA CLARA, Calif., Jan. 22, 2020 (GLOBE NEWSWIRE) -- SI-BONE, Inc. (Nasdaq: SIBN) (âSI-BONEâ), a Silicon Valley-based medical device company dedicated to solving musculoskeletal disorders of the sacropelvic anatomy, today announced the pricing of its public offering of 4,300,000 shares of its common stock at a price to the public of $21.50 per share. Of the shares of common stock being offered, 1,809,947 shares are being offered by selling stockholders and 2,490,053 shares are being offered by SI-BONE.  Gross proceeds to SI-BONE from the offering are expected to be $53.5 million, before deducting underwriting discounts and commissions and estimated offering expenses. The offering is scheduled to close on January 27, 2020, subject to the satisfaction of customary closing conditions. In addition, SI-BONE has granted the underwriters a 30-day option to purchase up to an additional 645,000 shares of common stock on the same terms and conditions.
Morgan Stanley and BofA Securities are acting as joint book-running managers. Canaccord Genuity LLC and JMP Securities LLC are acting as co-managers.
A shelf registration statement relating to the shares being sold in this offering was filed with the U.S. Securities and Exchange Commission on December 26, 2019, and was declared effective on January 2, 2020. A preliminary prospectus supplement and accompanying prospectus relating to the offering was filed with the SEC and are available for free on the SECâs website located at http://www.sec.gov. When available, electronic copies of the final prospectus supplement and accompanying prospectus relating to the offering are may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attn: Prospectus Department, or email at dg.prospectus_requests@bofa.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About SI-BONE
SI-BONE is a medical device company that pioneered minimally invasive surgery of the SI joint with the iFuse Implant System.Â
SI-BONE and iFuse Implant System are registered trademarks of SI-BONE, Inc. iFuse Implant is a trademark of SI-BONE, Inc. ©2020 SI-BONE, Inc. All Rights Reserved. 10608.01222020
Forward-Looking Statements
This press release contains forward-looking statements, including statements relating to SI-BONEâs expectations regarding the underwritten public offering. These statements are subject to significant risks and uncertainties and actual results could differ materially from those projected. SI-BONE cautions investors not to place undue reliance on the forward-looking statements contained in this release. These risks and uncertainties include, without limitation, completion of the underwritten public offering is subject to the satisfaction of customary closing conditions. Risks and uncertainties relating to SI-BONE and its business can be found in the âRisk Factorsâ section of SI-BONEâs Form 10-Q for the quarter ended September 30, 2019, filed with the SEC on November 12, 2019, in the preliminary prospectus supplement related to the public offering filed with the SEC on January 21, 2020, and in the final prospectus supplement related to the public offering to be filed with the SEC on or about January 23, 2020. SI-BONE undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in SI-BONEâs expectations, except as required by law.
Investor Contact:
Lynn Lewis or Carrie Mendivil
investors@SI-BONE.com
Media Contact:
Joe Powers
jpowers@si-bone.com
China Gold International Resources Corp. Ltd. Provides Preliminary 2019 Production results and 2020 Outlook
VANCOUVER, British Columbia, Jan. 22, 2020 (GLOBE NEWSWIRE) -- China Gold International Resources Corp. Ltd. (TSX: CGG; HKEx: 2099) (âChina Gold International Resourcesâ or the âCompanyâ) is pleased to provide preliminary full year production results for 2019 and announce annual production guidance for 2020.
2019 Production Highlights - Gold:
- The consolidated gold production from both of the Companyâs mines was approximately 212,870 ounces, exceeding the original production guidance forecasted 210,000 ounces at the beginning of the year by 1.37%.
- Gold production of approximately 67,870 ounces from the Jiama Copper-Gold Polymetallic Mine (âJiama Mineâ), representing a 3.0% decrease compared to 2018.
- Gold production of approximately 145,000 ounces from the Chang Shan Hao Gold Mine (âCSH Mineâ), stayed at the same compared to gold production in 2018.
- Gold production of approximately 67,870 ounces from the Jiama Copper-Gold Polymetallic Mine (âJiama Mineâ), representing a 3.0% decrease compared to 2018.
2019 Production Highlights - Copper:
- Copper production was approximately 137 million pounds from the Jiama Mine representing an increase of approximately 12.9% compared to 2018 and exceeded its original production guidance forecasted 132 million pounds by 3.8%.
Guidance Highlights for 2020:
- The Company anticipates production of approximately 212,000 ounces of gold in 2020.
- The Company anticipates production of approximately 145 million pounds of copper in 2020.
CSH Mine â Operation update
The Company plans to continue its study on development plans outside the current pit limits.
Jiama Mine â Operation update
The Company improved metallurgical recovery of copper at the Jiama Mine, growing 2019 copper production beyond the original production guidance through improvements in efficiency that resulted in significant gains in its financial performance despite challenging copper prices. The Company is considering the possibility of partnering up with a telecom service provider to upgrade Jiama Mine to become an intelligent mine by utilizing 5G technology.
The Companyâs CEO, Mr. Liangyou Jiang, said, âI am very pleased with the performance of our Company and our team. 2020 marks a new decade for China Gold International Resources. Having grown our business operations from 111,000 ounces to 212,870 ounces of gold and 21.6 million pounds to 137 million pounds of copper in 9 years, I credit our proven technical team for all of their achievements.Â
With our strong financial position and ability to access capital, thanks to our large stakeholders, the Company finds itself well positioned to continue building a profitable, growth oriented, sustainable metal producer able to capitalize on the coming gold era. We appreciate all our investors and stakeholders for their ongoing support. In 2020, the Company is committed to continuing its growth through the development of its existing projects, exploration and the pursuit of additional accretive acquisitions.â
Final Year-End 2020 Results
The Company expects to report its detailed 2019 year-end financial statements by the end of March 2020. In connection with the release, management will hold its annual roadshow event to discuss the Companyâs year-end results and performance.
About China Gold International Resources
China Gold International Resources Corp. Ltd. is based in Vancouver, BC, Canada and operates both profitable and growing mines, the CSH Gold Mine in Inner Mongolia, and the Jiama Copper-Polymetallic Mine in Tibet Autonomous Region of the Peopleâs Republic of China. The Companyâs objective is to continue to build shareholder value by growing production at its current mining operations, expanding its resource base, and aggressively acquiring and developing new projects internationally. The Company is listed on the Toronto Stock Exchange (TSX: CGG) and the Main Board of The Stock Exchange of Hong Kong Limited (HKEx: 2099).
For further information on the Company, please refer to its SEDAR profile at www.sedar.com or: Telephone: 604-609-0598, Email: info@chinagoldintl.com, Website: www.chinagoldintl.com.
Cautionary Note About Forward-Looking Statements
Certain information regarding China Gold International Resources contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although China Gold International Resources believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. China Gold International Resources cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what China Gold International Resources currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.
Dream Industrial REIT Announces European Expansion in Germany and the Netherlands, Strategy to Reduce Cost of Debt and Additions to its Management Team
TORONTO, Jan. 22, 2020 (GLOBE NEWSWIRE) -- DREAM INDUSTRIAL REIT (DIR.UN-TSX) (âDream Industrial REITâ or the âTrustâ) is pleased to announce its expansion into the European light industrial and logistics market. This will allow the Trust to pair high quality, well located industrial properties that can generate higher yields and above average returns with an attractive cost of debt with rates that are over 200 bps lower on a comparative basis than North American financing to generate higher returns for its unitholders.
The fundamentals of the industrial and logistics markets across Europe continue to remain attractive driven by the continued development and growth in e-commerce fueling demand from logistics operators coupled with low supply of high-quality and suitable product. We believe the healthy rental growth potential paired with limited new supply under construction provides tailwind for strong performance in this sector over the next five to ten years.
Dream Unlimited Corp. (âDreamâ) has been active in Europe since 1998 and is now dedicating its European platform and relationships to support the Trustâs European expansion. Subsequent to the sale of Dream Global REIT to the Blackstone Group Inc., Dream is committing its global asset management team who were responsible for Dream Global REITâs success, and its deep local relationships with tenants, lenders, brokers and partners to Dream Industrial REIT.
Dreamâs existing local European acquisition and asset management team along with long-standing relationships with the European real estate brokerage network will support the Trust in sourcing high-quality and accretive transactions with long-term cash flow and net asset value growth potential. The Trust is currently under contract or in exclusive negotiations to acquire â¬176 million ($257 million) of assets in strong industrial markets in the Netherlands (âDutch Portfolioâ) and â¬48 million ($70 million) of assets in Germany (âGerman Portfolioâ) through seven separate transactions.
The weighted average going-in capitalization rate of the German and Dutch portfolios is approximately 6.1% with a weighted average lease term of 5.3 years and in-place rents below estimated market rents. The Trust intends to fund the acquisitions, which are immediately accretive to its funds from operations, with cash-on-hand.
Subsequently, the Trust intends to hedge its entire Euro capital exposure by borrowing 100% of the Euro value of its portfolio to mitigate currency risk. The debt will be a combination of unsecured and secured financings on properties in Europe and North America, denominated in Euros. As a result, the total value of the portfolio will be hedged, and we will access debt at 1.30% to 1.50% over a five-year term from our debt and hedging strategy. Effectively, we will continue to maintain a low leverage ratio with a higher proportion of the debt hedged in Euros. We expect the hedging and debt strategy on this transaction to generate approximately $0.02 to $0.03 per unit of accretion to our results on an annualized basis without increasing leverage.
Concurrently, we are focused on improving our overall cost of debt and improving the risk profile of our business by pursuing a more conservative leverage structure, and optimizing our sources of debt capital by borrowing the amount of Euro-denominated debt to approximate the gross asset value of the European properties, while concurrently reducing our debt in North America to maintain an overall leverage ratio well below 40%. We will be able to achieve a much lower interest rate while mitigating currency risk on our investments. We intend to continue to increase our unencumbered asset pool, pursue an investment grade credit rating and obtain unsecured financings in 2020. Dreamâs existing European platform, people and its relationships with global lenders will help the Trust successfully achieve this debt strategy.Â
We believe the strategies announced today will immediately position Dream Industrial REIT to achieve meaningful accretion on FFO, reduce risk, improve average portfolio quality, deliver above average long-term value for unitholders and transform quickly into a premier global industrial real estate company with significant scale in Canada, the United States and Europe.
For more information on the Trustâs European expansion and portfolio strategy, please visit our website at www.dreamindustrialreit.ca Â
Background
On December 10, 2019, Dream announced the closing of the sale of Dream Global REIT to affiliates of real estate funds managed by the Blackstone Group Inc., a global leader in real estate investing, in an all cash transaction valued at $6.2 billion. The transaction was the culmination of the successful creation, growth and sale of a high-quality office and industrial portfolio since its IPO. Since its inception in 2011, Dream Global REIT delivered total annualized returns of 15% to unitholders, which exceeded both the Canadian and European benchmarks by approximately 60% and is comparable to the top performing real estate private equity funds and pension funds globally, over the same period. Upon closing of the transaction with Blackstone on December 10, 2019, the non-compete clause for acquisition of commercial properties in Europe is no longer applicable and Dream will be able to dedicate its resources in supporting Dream Industrial REITâs European expansion program.Â
With a population of over 500 million and increasing e-commerce penetration, the European market significantly increases the Trustâs investable universe. The Trust intends to continue expanding its portfolio in Germany and the Netherlands, Europeâs most sought after and liquid logistics markets. In addition, the Trust intends to evaluate investment opportunities in other core logistics markets in Western Europe, offering compelling returns and ability to build scale.
We believe that modern logistics assets and urban light industrial properties are considered highly desirable by institutional investors as they offer superior risk-adjusted returns compared to other asset classes. However, substantial scale is difficult to access and acquire without an established and reputable platform. This scarcity and depth of the market will also likely create meaningful portfolio premiums for assembly of large high-quality industrial portfolios. Over the medium term, the Trust intends to increase its exposure to Europe to approximately 25% of its total portfolio value from 12% following the acquisition of the German and Dutch Portfolios announced today.
The Trust remains committed to growing and improving the value of its portfolio across target markets in Canada and the United States, with experienced acquisition, leasing and portfolio management teams dedicated to each region. In addition to the acquisitions in Europe, the Trust currently has nearly $170 million of properties that have recently closed, are under contract or in exclusive negotiations in Canada, consisting of seven separate transactions, primarily in the Greater Toronto Area. These assets are well located and are expected to deliver above average NOI and NAV growth over the next five to ten years. We are confident in our Canadian acquisition teamâs ability to source smaller, but relatively more accretive transactions, on an opportunistic and off-market basis to build a meaningful Canadian acquisition pipeline in 2020, predominantly in the GTA and Quebec.Â
In addition, the Trust will continue to leverage its local platform and strategic relationship with PAULS Corp to obtain unique access to acquisition and development pipelines in its target markets in the United States with a focus on sourcing properties that are high-quality, well-leased, multi-functional and strategically located. We target properties that can deliver steady and growing free cash flows to the Trust over the long term and aim to acquire these properties at below replacement cost.
As previously mentioned, Dream will commit its platform and relationships to support the Trustâs growth and success in Europe. Specifically, Mr. Alexander Sannikov and Mr. Bruce Traversy have joined the Trust in dedicated senior operating and investment roles.
Mr. Sannikov joined Dream in 2008 and was previously Chief Operating Officer of Dream Global REIT and had oversight of Dream Globalâs operating performance, portfolio strategy and capital allocation. Previously, he was Senior Vice President, Commercial Properties of Dream and was involved in underwriting and managing Canadian commercial properties for Dream, including existing assets currently owned by Dream Industrial REIT.
Mr. Traversy joined Dream in 1997 and was previously Senior Vice President, Head of Investments of Dream Global REIT and had oversight of Dream Globalâs investment strategy and its execution across Europe. Mr. Traversy also has 20 years of experience acquiring industrial assets in Canada, including existing assets currently owned by Dream Industrial REIT.
âWe are very excited to announce our European expansion strategy which will allow Dream Industrial to diversify its portfolio into Europe by acquiring high quality assets at attractive risk-adjusted returns, pair them with low-cost debt and achieve attractive overall returns for Dream Industrialâs unitholders,â said Brian Pauls, CEO of Dream Industrial REIT. âAlex and Bruce were invaluable members in helping Dream Global become one of the leading public real estate platforms and brands in Europe since its inception. Now, Dream Industrial can leverage Dreamâs skills and relationships to spearhead our new European industrial business, improve operations across Canada, and work closely with our U.S. industrial platform to help us to continue to deliver long-term value to our unitholders.â
âOur debt strategy will allow Dream Industrial to significantly reduce its overall cost of debt over time with approximately 200 basis points of savings compared to the cost of debt in North America, while providing an effective hedge for the currency exposure on its investments in Europe,â said Lenis Quan, CFO of Dream Industrial REIT. âWe believe that this debt strategy will allow us to reduce the REITâs overall cost of borrowing by 40% over the medium term.âÂ
Acquisition Portfolio and Market Overview
Netherlands
The Netherlands industrial market continues to benefit from healthy economic growth and record-low unemployment levels. Netherlands is home to the Port of Rotterdam, the largest container port in Europe and amongst the 15 largest ports in the world, as well as Schiphol Airport in Amsterdam, one of the busiest cargo airports globally. The strong infrastructure for freight transport, coupled with the development of the e-commerce sector, continues to boost demand for well-located warehouse and logistics space in the Netherlands. Resulting from these attractive fundamentals, the Dutch industrial and logistics markets have been one of the top-performing markets in Europe. Declining vacancy rates and a low- to moderate-level of incoming supply have continued to put upward pressure on rental rates.
The Dutch Portfolio comprises 34 high-quality light industrial and logistics properties primarily concentrated in the countryâs major urban centres including Amsterdam and Rotterdam, with over 80% of the properties located within 30 km of their respective city centres. The portfolio spans 2.4 million square feet and is 96% leased to over 70 tenants, providing a safe and diversified tenant mix. The tenant base consists of an attractive mix of large and medium sized enterprises that span across multiple industries with significant capital invested by several tenants at their respective properties. The portfolioâs concentration near major urban centres enables it to serve as key last mile distribution sites and capture growing demand from e-commerce focused users for industrial space in these markets. Â The purchase price of $257 million represents an attractive going-in yield of 6.2% with the opportunity to further grow cash flow through the lease-up of vacant space and capturing rental rate growth on lease roll-over. The average in-place rental rate is 5% below current market rent and the portfolio has a weighted average lease term of 5 years. The transactions are expected to close in the first quarter of 2020.
Dutch Portfolio
https://www.globenewswire.com/NewsRoom/AttachmentNg/dfa3da0a-50ae-4520-9e27-1425622c6c59
Germany
The German industrial market continues to benefit from growing demand from distribution and logistics users. Net absorption in the first nine months of 2019 has exceeded the 5 and 10-year averages by 5% and 21% respectively (JLL Industrial and Logistics Overview, October 2019). New supply remains insufficient to fulfil the growing demand as majority of new construction is already pre-leased. This has led to higher rental rates in most German markets.
The German Portfolio is near Frankfurt and Dresden, and was secured by the Dream acquisition team through an off-market channel. It is comprised of three high-quality light industrial properties with an average occupancy of 92% and combined 738,000 square feet. The properties are highly functional, well located in strong urban logistics locations with excellent transport access and leased to 18 tenants. The purchase price of $70 million represents an attractive going-in yield of 5.8%, with potential long-term upside from development of additional density. The transactions are expected to close in the first half of 2020.
German Portfolio
https://www.globenewswire.com/NewsRoom/AttachmentNg/cdc7d818-6e03-4416-9072-ecb5ffb500ac
Proforma Portfolio
Upon completion of the above acquisitions in the Netherlands, Germany and Canada, the Trustâs income-producing portfolio will comprise 264 properties with a total GLA of 26.3 million square feet and a pro forma gross asset value of $2.8 billion. The following chart illustrates the Trustâs geographic exposure based on gross asset value on a pro forma basis following the closing of the Dutch and German portfolios, and approximately $170 million of acquisitions that are exclusive, are under contract or have closed since September 30, 2019 in Canada. Within the Trustâs Canadian portfolio, Ontario and Quebec would account for more than 65% of the Trustâs properties (by investment property values).
The Trustâs pro forma income-producing portfolio geographic distribution by investment property values
https://www.globenewswire.com/NewsRoom/AttachmentNg/35f6c828-92b7-446d-97f4-06c29cd3e4cdÂ
About Dream Industrial REIT
Dream Industrial REIT is an unincorporated, open-ended real estate investment trust. As at September 30, 2019, excluding assets held for sale, Dream Industrial REIT owned and operated a portfolio of 209 geographically diversified light industrial properties comprising approximately 21.8 million square feet of gross leasable area in key markets across North America. Its objective is to grow and upgrade the quality of its portfolio, and to provide stable and sustainable cash distributions to its unitholders. For more information, please visit www.dreamindustrialreit.ca.
Forward-looking information
This news release may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information generally can be identified by the use of forward-looking terminology such as âoutlookâ, âobjectiveâ, âmayâ, âwillâ, âexpectâ, âintendâ, âestimateâ, âanticipateâ, âbelieveâ, âshouldâ, âplansâ, or âcontinueâ, or similar expressions suggesting future outcomes or events. Some of the specific forward-looking information in this news release may include, among other things, statements regarding our future growth and the future value of our portfolio; our ability to increase scale in Canada, the United States and Europe; our ability to deliver long-term value to our unitholders; our European expansion strategy; the anticipated timing of closing of the acquisitions referred to in this press release (the âAcquisitionsâ); the sources of funding for the Acquisitions and other future acquisitions; our expectations of cash flows from the properties acquired pursuant to the Acquisitions (the âAcquisition Portfoliosâ) and their effect on NAV and NOI growth; the Trustâs intentions for financing the Acquisition Portfolios; the expected going in cap rates of the Acquisition Portfolios; the pro-forma composition of our portfolio after the completion of the Acquisitions, including the number of properties in our portfolio, our total GLA, our gross asset value, and our geographic exposure; expected rental growth in Europe; future supply in the European industrial market; the future performance of the European industrial and logistic sector; anticipated risk-adjusted returns on European industrial assets; potential premiums for industrial portfolios in Europe; our potential acquisitions and development opportunities in Europe, Canada and the United States; our ability to identify accretive transactions and build a meaningful pipeline of acquisition and development opportunities in our target markets; our ability to source high-quality assets at attractive returns; our ability to acquire properties at below replacement cost; our intention to continue expanding in Germany and the Netherlands and other core logistics markets in Western Europe; our level of exposure to Europe over the medium term; our hedging and debt strategies, including our ability to hedge our entire Euro capital exposure by borrowing 100% of the Euro value of the Trustâs portfolio to mitigate currency risk; the effect of our hedging and debt strategies on leverage and FFO per unit; our anticipated cost of debt, risk profile and leverage structure; expected sources of debt capital; our ability to access European interest rates and their effect on our cost of debt; our ability to obtain lower interest rates while mitigating currency risk on our investments; expected growth of our unencumbered asset pool; our ability to maintain a low leverage ratio with a higher proportion of the debt hedged in Euros; our ability to obtain an investment grade credit rating and unsecured financings and the timing thereof; our intention to transition 50% of our financing to Euro-denominated debt reducing our cost of debt by up to one-third; our ability to leverage our partners platforms and experience in the execution of our European expansion strategy and hedging and debt strategies; the effect of our European expansion strategy and hedging and debt strategies on our results and financial position; and our ability to deliver long-term value to our unitholders. Forward looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dream Industrial REITâs control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, global and local economic and business conditions; changes to laws, including tax laws; the financial condition of tenants; our ability to raise additional capital; our ability to refinance maturing debt; our ability to execute our strategic plans and meet financial obligations; risks associated with our anticipated real estate operations and investment holdings in general, including environmental risks, market risks, and risks associated with inflation; leasing risks, including those associated with the ability to lease vacant space; interest and currency rate fluctuations and other financial exposures; and with respect to the Acquisitions, the risk of failure of completion, failure to receive any required approvals or consents in connection with the Acquisitions, failure to satisfy or waive any conditions to the completion of the Acquisitions or to realize the expected benefits from the Acquisitions, as well as the risk that the Acquisition Portfolios may not perform as anticipated, if acquired. Our objectives and forward-looking statements are based on certain assumptions, including that the general economy remains stable; there are no unforeseen changes in the legislative and operating framework for our business will occur, including unforeseen changes to tax laws or governmental regulations in Canada, the United States or Europe; interest rates remain stable (including that interest rates in Europe remain below North American rates); there will not be a material change in foreign exchange rates, particularly in respect of the U.S. dollar, the Canadian dollar and the Euro, as compared with our assumed foreign exchange rates; conditions within the real estate market (including cap rates) remain consistent; capital expenditure requirements and general and administrative expense remain consistent with current expectations; our future level of indebtedness and our future growth potential will remain consistent with our current expectations; that conditions in Canada, the United States and Europe and, in particular, the industrial real estate market, including competition for acquisitions, will be consistent with the current climate; the capital markets continue to provide ready access to equity and/or debt; the Acquisitions are completed as currently contemplated; and our hedging and debt strategies achieve their intended goals. All forward-looking information in this news release speaks as of the date of this news release. Dream Industrial REIT does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise except as required by law. Additional information about these assumptions and risks and uncertainties is contained in Dream Industrial REITâs filings with securities regulators, including its latest annual information form and MD&A. These filings are also available at Dream Industrial REITâs website at www.dreamindustrialreit.ca.
For further information, please contact:
Dream Industrial REIT
| Brian Pauls | Â | Lenis Quan |
| Chief Executive Officer | Â | Chief Financial Officer |
| (416) 365-2365 | Â | (416) 365-2353 |
| bpauls@dream.ca | Â | lquan@dream.ca |
ACWA and Ducks Unlimited Release Joint Statement Identifying Voluntary Agreements as the Best Plan Forward for California’s Bay-Delta
SACRAMENTO, Calif., Jan. 22, 2020 (GLOBE NEWSWIRE) -- ACWA Executive Director Dave Eggerton and Director of Operations for Ducks Unlimitedâs Western Region Mark Biddlecomb today issued the following statement on the value of voluntary agreements for the Sacramento-San Joaquin Bay Delta:
Gov. Gavin Newsom has consistently expressed support for successful completion of voluntary agreements as a path forward in the Sacramento-San Joaquin Bay-Delta. The California Natural Resources Agency and California Environmental Protection Agency recently described collaborative, voluntary agreements as a âgame changerâ for the environment. We strongly agree, and stand ready in bringing proactive decision makers to the table for the management of water in the Delta and its tributaries.Â
We are on the brink of a historic accomplishment in California water to resolve longstanding conflicts through comprehensive voluntary agreements that substitute collaboration and creative solutions for perpetual litigation. For anyone to abandon this transformative effort in favor of litigation would be a tragic mistake that could cost the state a rare opportunity to realize a comprehensive investment in multi-beneficial assets for the environment.
The superior alternative to litigation is collaboration, one that manifests itself through a remarkable coalition that includes the Newsom Administration, Californiaâs State Legislature, members of Congress, landowners and farmers, state and federal agencies, and local water agencies. Supporters of this collaborative approach include our respective organizations: the Association of California Water Agencies, representing more than 450 public water agencies, and conservation groups such as Ducks Unlimited, the worldâs leader in wetlands conservation.
The voluntary agreements are unprecedented. Water agencies have pledged to contribute hundreds of thousands of acre-feet of water, hundreds of millions of dollars, and an extensive series of habitat restoration actions to restore and enhance fish and wildlife habitat. These commitments will help reconnect rivers with historical floodplains, benefitting salmon, steelhead, ducks, geese, giant garter snakes and many other species. This enhanced collaboration sets the stage for expanding existing habitat restoration work. These projects include wetlands restoration within the Bay-Delta and Central Valley that is providing more essential habitat as a critical part of the Pacific Flyway. Meanwhile, members of the Association of California Water Agencies are leading salmon recovery efforts on Bay-Delta tributaries such as Northern Californiaâs Yuba River and Butte Creek. Nearby, a 19-member partnership of stakeholders plan to flood agricultural land and connect it through waterways to the Yolo Bypass and Sacramento River. The results of pilot projects to restore seasonal floodplains have already produced exciting results.
The Newsom Administration and Legislature recently set aside $70 million for habitat restoration actions and other measures contained within the voluntary agreements. This commitment reflects the Administrationâs and State Legislatureâs support for this collaborative initiative.
Californians benefit when the natural environment is restored. Wetlands conservation works for waterfowl, for climate resiliency and for people. And there is certainly much more to accomplish. Voluntary agreements create a framework for completing a comprehensive set of actions over 15 years, actions that include applying the latest available science to maximize the use of water flows and habitat enhancements.
We applaud Gov. Newsom for his leadership in this area and remain optimistic that all parties involved will continue their progress toward creative, collaborative and adaptive approaches that protect our environment and build water security for communities and agriculture.
The voluntary agreements represent the best of California. They also represent our best path to work together to restore the environment and benefit our economy. And that is worth our very best effort.
ACWA is a statewide association of public agencies whose more than 450 members are responsible for about 90% of the water delivered in California. For more information, visit www.acwa.com.
Contact: Heather Engel, Director of Communications | (916) 441-4545 | C (760) 217-0627
Coastal Community Bank Announces Addition of Chief Risk Officer
EVERETT, Wash., Jan. 22, 2020 (GLOBE NEWSWIRE) -- Coastal Community Bank announces the addition of Andrew Stines as Chief Risk Officer. Stines has a degree in Business Management from the University of Colorado, a Masters in Finance from Seattle University School of Business, and a Juris Doctor from Seattle University School of Law.
Stines brings a successful track record of legal, compliance, and risk management experience. Prior to joining Coastal he was a Managing Director in the Financial Services Risk Management group at Ernst & Young, LLP, Chief Risk Officer at Sunwest Bank, and an attorney in Seattle with Dorsey & Whitney, LLP. Stines will lead the risk enterprise that is currently led by Dan Lee who has been both Chief Risk and Credit Officer. Lee will continue as Chief Credit Officer.
âAs the bank grows and becomes more complex, itâs time to have dedicated leadership in both key roles,â said Eric Sprink, President & CEO, Coastal Community Bank. âDan has provided excellent leadership, which will enable Andy to step into the role of Chief Risk Officer with a solid program already in place. Andyâs unique background in working closely with regulators while having engaged with large Fintech firms will enable us to build an even more robust compliance and oversight platform for both Coastal and our Fintech partners.â
About Coastal Community Bank
Coastal Financial Corporation (Nasdaq: CCB) (the âCompanyâ) is an Everett, Washington based bank holding company with Coastal, a full-service commercial bank, as its sole wholly-owned banking subsidiary. The $1 billion community bank that Coastal operates provides service through 14 branches in Snohomish, Island, and King Counties, the Internet, and its mobile banking application. Coastal provides select partners with BaaS (banking as a service) through its CCBX Division. To learn more about Coastal visit www.coastalbank.com.
Forward-Looking Statements
This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Companyâs current views with respect to, among other things, future events and the Companyâs financial performance. Any statements about the Companyâs expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as âanticipate,â âbelieves,â âcan,â âcould,â âmay,â âpredicts,â âpotential,â âshould,â âwill,â âestimate,â âplans,â âprojects,â âcontinuing,â âongoing,â âexpects,â âintendsâ and similar words or phrases. Any or all of the forward-looking statements in (or conveyed orally regarding) this presentation may turn out to be inaccurate. The inclusion of or reference to forward-looking information in this presentation should not be regarded as a representation by the Company or any other person that the future plans, estimates or expectations contemplated by the Company will be achieved. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. The Companyâs actual results could differ materially from those anticipated in such forward-looking statements as a result of risks, uncertainties and assumptions that are difficult to predict. Factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, the risks and uncertainties discussed under âRisk Factorsâ in Form 10-K for the year ended December 31, 2018, and in any of the Companyâs subsequent filings with the Securities and Exchange Commission. If one or more events related to these or other risks or uncertainties materialize, or if the Companyâs underlying assumptions prove to be incorrect, actual results may differ materially from what the Company anticipates. You are cautioned not to place undue reliance on forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made and the Company undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.
Diamanti Expands Executive Leadership Team: Christina Monzon-Le Named Vice President, People
Technology human resources executive brings more than 20 years of industry experience helping high-growth companies scale globally
SAN JOSE, Calif., Jan. 22, 2020 (GLOBE NEWSWIRE) -- Diamanti, creators of the first bare-metal hyperconverged platform for Kubernetes and containers, today announced the appointment of Christina Monzon-Le to a new position at the company, Vice President, People. In the new role, she will oversee all human resources functions worldwide, reporting directly to Diamanti CEO Tom Barton.
âWeâre delighted that Christina has joined the Diamanti leadership team,â Barton said. âShe brings a track record of success in guiding companies through high-growth periods in attracting, retaining and developing top talent in competitive industries.â
Monzon-Leâs appointment adds to a number of new milestones for Diamanti in 2019 - the successful closing of its Series C, an overall doubling of its full time staff, the addition of new customers, and the building of its executive team. In 2019 the company also added Chris Noordyke as VP Business Development and Alliances and Andy Wild as Chief Revenue Officer.
âItâs an exciting time to join Diamanti as we enter 2020 and expand globally,â Monzon-Le said. âWeâre competing in one of the most vibrant sectors in information technology as more and more businesses embrace Kubernetes and containers in their architecture. Our goal is to continue to nurture a collaborative, high performance culture where our people and their careers will thrive.â
Monzon-Le joins Diamanti from Guavus where she was head of Global People Operations for the big data analytics company. Previously she served as Vice President, Human Resources at SS8, provider of network security intelligence for enterprises. Prior to that she held senior leadership roles in human resources at Gaia Online, LeCroy and Symantec. She holds an MBA from San Jose State University.
About Diamanti
Diamanti delivers the industryâs only purpose-built, fully integrated enterprise Kubernetes platform, spanning on-premises and public cloud environments. It gives infrastructure architects, IT operations, and application owners the performance, simplicity, security, and enterprise features they need to get cloud-native applications to market fast. Diamanti provides the lowest total cost of ownership to enterprise customers for their most demanding applications. Based in San Jose, California, https://twitter.com/DiamanticomDiamanti is backed by venture investors ClearSky, CRV, Engineering Capital, Goldman Sachs, GSR Ventures, Northgate Capital, Threshold Ventures (formerly DFJ Venture), and Translink Capital. For more information visit www.diamanti.com or follow @DiamantiCom.
Editorial Contact
Lonn Johnston for Diamanti
+1 650.219.7764
Myriad Submits sPMA for myChoice® CDx with Zejula® in First-Line Platinum Responsive Advanced Ovarian Cancer
SALT LAKE CITY, Jan. 22, 2020 (GLOBE NEWSWIRE) -- Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in molecular diagnostics and precision medicine, announced that it has submitted a supplementary premarket approval (sPMA) application to the U.S. Food and Drug Administration (FDA) for its myChoice® CDx test to help predict outcomes of women with first-line platinum responsive advanced ovarian cancer treated with GSKâs PARP inhibitor Zejula® (niraparib). Myriadâs filing is based on the positive results from the Phase 3 PRIMA trial of Zejula that was published online in the New England Journal of Medicine in September 2019.
âThe myChoice CDx test provides valuable molecular insights into tumors and helps identify women with ovarian cancer who are most likely to benefit from PARP inhibitors,â said Nicole Lambert, president, Myriad Oncology. âThis regulatory submission represents another important step forward for precision medicine and ensuring that women have access to the most advanced therapies.â
Myriad's myChoice CDx is the most comprehensive homologous recombination deficiency test, enabling physicians to identify patients with tumors that have lost the ability to repair double-stranded DNA breaks, resulting in increased susceptibility to DNA-damaging drugs such as platinum drugs or PARP inhibitors. The myChoice CDx test comprises tumor sequencing of the BRCA1 and BRCA2 genes and a composite of three proprietary technologies (loss of heterozygosity, telomeric allelic imbalance and large-scale state transitions).
About Ovarian Cancer
Ovarian cancer affects approximately 22,000 women per year in the United States according to the American Cancer Society. Typically, ovarian cancer is diagnosed at later stages when it has metastasised to other areas of the body and only 20 percent of patients are diagnosed with early stage disease. Ovarian cancer is one of the deadliest cancers with approximately 14,000 deaths per year attributed to the disease. Patients with certain characteristics such as a family history of the disease, certain genetic mutations such as those in the BRCA1 and BRCA2 genes, obesity and endometriosis face a higher risk from ovarian cancer.
About Myriad Genetics
Myriad Genetics Inc. is a leading precision medicine company dedicated to being a trusted advisor transforming patient lives worldwide with pioneering molecular diagnostics. Myriad discovers and commercializes molecular diagnostic tests that: determine the risk of developing disease, accurately diagnose disease, assess the risk of disease progression, and guide treatment decisions across six major medical specialties where molecular diagnostics can significantly improve patient care and lower healthcare costs. Myriad is focused on five critical success factors: building upon a solid hereditary cancer foundation, growing new product volume, expanding reimbursement coverage for new products, increasing RNA kit revenue internationally and improving profitability with Elevate 2020. For more information on how Myriad is making a difference, please visit the Company's website: www.myriad.com.
Myriad, the Myriad logo, BART, BRACAnalysis, Colaris, Colaris AP, myPath, myRisk, Myriad myRisk, myRisk Hereditary Cancer, myChoice, myPlan, BRACAnalysis CDx, Tumor BRACAnalysis CDx, myChoice CDx, EndoPredict, Vectra, GeneSight, riskScore, Prolaris, Foresight and Prequel are trademarks or registered trademarks of Myriad Genetics, Inc. or its wholly owned subsidiaries in the United States and foreign countries. MYGN-F, MYGN-G.
GSK is commercializing ZEJULA. ZEJULA is a registered trademark of GSK.
Safe Harbor Statement
This press release contains âforward-looking statementsâ within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to women getting access to the most advanced therapies; and the Company's strategic directives under the caption "About Myriad Genetics." These "forward-looking statements" are based on management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that sales and profit margins of our molecular diagnostic tests and pharmaceutical and clinical services may decline; risks related to our ability to transition from our existing product portfolio to our new tests, including unexpected costs and delays; risks related to decisions or changes in governmental or private insurersâ reimbursement levels for our tests or our ability to obtain reimbursement for our new tests at comparable levels to our existing tests; risks related to increased competition and the development of new competing tests and services; the risk that we may be unable to develop or achieve commercial success for additional molecular diagnostic tests and pharmaceutical and clinical services in a timely manner, or at all; the risk that we may not successfully develop new markets for our molecular diagnostic tests and pharmaceutical and clinical services, including our ability to successfully generate revenue outside the United States; the risk that licenses to the technology underlying our molecular diagnostic tests and pharmaceutical and clinical services and any future tests and services are terminated or cannot be maintained on satisfactory terms; risks related to delays or other problems with operating our laboratory testing facilities and our healthcare clinic; risks related to public concern over genetic testing in general or our tests in particular; risks related to regulatory requirements or enforcement in the United States and foreign countries and changes in the structure of the healthcare system or healthcare payment systems; risks related to our ability to obtain new corporate collaborations or licenses and acquire new technologies or businesses on satisfactory terms, if at all; risks related to our ability to successfully integrate and derive benefits from any technologies or businesses that we license or acquire; risks related to our projections about our business, results of operations and financial condition; risks related to the potential market opportunity for our products and services; the risk that we or our licensors may be unable to protect or that third parties will infringe the proprietary technologies underlying our tests; the risk of patent-infringement claims or challenges to the validity of our patents or other intellectual property; risks related to changes in intellectual property laws covering our molecular diagnostic tests and pharmaceutical and clinical services and patents or enforcement in the United States and foreign countries, such as the Supreme Court decision in the lawsuit brought against us by the Association for Molecular Pathology et al; risks of new, changing and competitive technologies and regulations in the United States and internationally; the risk that we may be unable to comply with financial operating covenants under our credit or lending agreements; the risk that we will be unable to pay, when due, amounts due under our credit or lending agreements; and other factors discussed under the heading "Risk Factors" contained in Item 1A of our most recent Annual Report on Form 10-K for the fiscal year ended June 30, 2019, which has been filed with the Securities and Exchange Commission, as well as any updates to those risk factors filed from time to time in our Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. All information in this press release is as of the date of the release, and Myriad undertakes no duty to update this information unless required by law.
| Media Contact: | Ron Rogers | Â | Investor Contact: | Scott Gleason |
| Â | (801) 584-3065 | Â | Â | (801) 584-1143 |
| Â | rrogers@myriad.com | Â | Â | sgleason@myriad.com |
Step Energy Services Ltd. Provides a Strategic Business Update, an Update to Its Amended Credit Facilities and Fourth Quarter and Year End 2019 Conference Call Details
CALGARY, Alberta, Jan. 22, 2020 (GLOBE NEWSWIRE) -- STEP Energy Services Ltd. (the âCompanyâ or âSTEPâ) provides a strategic business update, announces an amendment to its credit facilities, and provides fourth quarter and year end 2019 results conference call details.
STRATEGIC BUSINESS UPDATE
STEP is pleased to provide an update on 2020 work programs for its Canadian and U.S. operations. Throughout 2019, STEP focused on executing work programs for large, blue-chip clients with active and stable work programs while broadening our client base across our different service offerings. This allowed STEP to drive utilization and increase efficiencies in our operations. We were also successful in effectively deploying our assets to areas of greater activity, including opening a new coiled tubing operation in North Dakota towards the end of the year.
Heading into 2020, the Companyâs goal was to build on this focus and STEP is pleased to announce it has been successful in achieving its 2020 RFP goals, which provide clear line-of-sight to work programs to enable greater stability, predictability and equipment utilization.
Canadian Operations Highlights
- Successful renewal of key fracturing work programs with similar or larger work scopes
- Added another large fracturing work program and retained other key clients
- Retained and added key coiled tubing clients, with STEPâs suite of technologies and field execution being a differentiator
U.S. Operations Highlights
- Successfully retained fracturing work programs with a large, international client for two fleets
- Added another large fracturing work program for the third fleet with a large, blue-chip client
- Awarded first call options for coiled tubing work across the Permian, Bakken and Eagle Ford basins, with outcomes for further RFPs still pending across our U.S. footprint
CREDIT FACILITY UPDATE
STEP has maintained an ongoing focus on capital discipline and balance sheet efficiency and is pleased to report that at December 31, 2019 net debt (bank debt less cash on hand) was $232.6 million, down from $254.2 million at December 31, 2018. At year end, the Company was also onside with all covenants related to this facility.
Based on the Companyâs current outlook for the business, STEP expects to remain on side with all financial covenants for 2020. However, given the volatility of commodity prices which underpin customer cash flows, and therefore demand for our services, management felt it was prudent to approach our banking syndicate to seek an extension of the increased covenant levels granted in Q1 2019. We are pleased to announce that as of January 22, 2020, the Company has entered into an agreement with its syndicate of lenders to make an amendment to its credit facilities in order to provide increased financial flexibility. The amendment was a change to the required Funded Debt to EBITDA Ratio (as defined in the credit facilities). The Funded Debt to EBITDA Ratio continues to be calculated in the same manner as it was prior to the amendment, but is now required to meet the following ratios:
| Rolling four quarter period ending | Required Funded Debt to EBITDA Ratio |
| March 31, 2020 | 4.50:1.00 |
| June 30, 2020 | 4.50:1.00 |
| September 30, 2020 | 4.50:1.00 |
| December 31, 2020 | 4.50:1.00 |
| March 31, 2021 | 4.00:1.00 |
| June 30, 2021 | 4.00:1.00 |
| September 30, 2021 and thereafter | 3.00:1.00 |
| Â | Â |
Interest continues to be payable monthly at the bankâs prime lending rate plus 50 basis points to 300 basis points depending on certain financial ratios of the Company.
FOURTH QUARTER AND YEAR END 2019 RESULTS RELEASE DATE AND CONFERENCE CALL DETAILS
STEP intends to release its 2019 fourth quarter and year end results on Thursday, March 12, 2020 before markets open and will host a conference call at 8:00 a.m. MT (10:00 a.m. ET) on the same morning.
To access the conference call in North America, dial 1-877-375-3078 (toll-free) or 1-629-228-0731 and enter the conference passcode 7641909, or ask for the âSTEP Energy Services Fourth Quarter and Year End 2019 Financial and Operating Results Callâ.
To listen to a live webcast of the conference call, or to hear a replay, please enter the following URL into your web browser: https://edge.media-server.com/mmc/p/mnhhnt6r.
The conference call will be available for replay over phone approximately three hours after the end of the call. To access the replay, dial 1-855-859-2056 (toll-free) or 1-404-537-3406 and enter the passcode 7641909. The replay over phone will remain available until March 19, 2020. The webcast replay will remain available until March 12, 2021.
Financial Statements and Management's Discussion and Analysis will be posted to STEPâs website and SEDAR immediately after the press release is disseminated.
FORWARD LOOKING STATEMENTS
Certain statements contained in this press release constitute âforward-looking statementsâ or âforward-looking informationâ within the meaning of applicable securities laws (collectively, âforward-looking statementsâ). These statements relate to managementâs expectations about future events, results of operations and the Companyâs future performance (both operational and financial) and business prospects. All statements other than statements of historical fact are forward-looking statements. The use of any of the words âanticipateâ, âplanâ, âcontemplateâ, âcontinueâ, âestimateâ, âexpectâ, âintendâ, âproposeâ, âmightâ, âmayâ, âwillâ, âshallâ, âprojectâ, âshouldâ, âcouldâ, âwouldâ, âbelieveâ, âpredictâ, âforecastâ, âpursueâ, âpotentialâ, âobjectiveâ and âcapableâ and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this presentation should not be unduly relied upon. These statements speak only as of the date of this presentation. In addition, this presentation may contain forward-looking statements and forward looking information attributed to third-party industry sources.
In particular, but without limitation, this document contains forward-looking statements pertaining to: 2020 operation outlook; anticipated market recovery; supply and demand for oilfield services and industry activity levels, including the Companyâs integrated service offerings; the Companyâs anticipated business strategies and expected success; covenant compliance under the Companyâs syndicated credit facilities; expected completions activity, utilization levels and operating margins in 2019 and 2020; expected profitability for fracturing services in 2019 and 2020; ability of the Company to maintain its track record of returns and margin performance; the Companyâs expected performance in 2019 and 2020; future development activities; the Companyâs ability to retain existing clients and attract new business; monitoring of industry demand, client capital budgets and market conditions; and client activity in 2020.
The forward-looking information and statements contained in this document reflect several material factors and expectations and assumptions of the Company including, without limitation: that the Company will continue to conduct its operations in a manner consistent with past operations; the general continuance of current or, where applicable, assumed industry conditions; the Companyâs future debt levels; the Companyâs ability to market successfully to current and new clients; the likelihood of the Companyâs clients to execute on work programs as awarded; the Companyâs ability to utilize its equipment; the Companyâs ability to obtain qualified staff and equipment in a timely and cost efficient manner; levels of deployable equipment; future sources of funding for the Companyâs capital program; and the impact of competition on the Company. The Company believes the material factors, expectations and assumptions reflected in the forward-looking information and statements are reasonable but no assurance can be given that these factors, expectations and assumptions will prove correct.
Actual results could differ materially from those anticipated in these forward-looking statements due to the risk factors set forth below and elsewhere in this document: volatility of the oil and natural gas industry; excess equipment levels; competition in the oilfield services industry; restrictions on access to capital; reliance on suppliers of raw materials, diesel fuel and component parts; reliance on equipment suppliers and fabricators; direct and indirect exposure to volatile credit markets; fluctuations in currency exchange rates; merger and acquisition activity among the Companyâs clients; federal and provincial legislative and regulatory initiatives could result in increased costs and additional operating restrictions or delays; health, safety and environment laws and regulations may require the Company to make substantial expenditures or cause it to incur substantial liabilities; loss of a significant client could cause the Companyâs revenue to decline substantially; negative cash flows from operating activities; third party credit risk; hazards inherent in the oilfield services industry which may not be covered to the full extent by the Companyâs insurance policies; difficulty in retaining, replacing or adding personnel; seasonal volatility due to adverse weather conditions; reliance on a few key employees; legal proceedings involving the Company; failure to maintain the Companyâs safety standards and record; inability to manage growth; failure to continuously improve operating equipment and proprietary fluid chemistries; actual results may differ materially from management estimates and assumptions; and the risk factors set forth under the heading âRisk Factorsâ in the AIF.
ABOUT STEP
STEP is an oilfield service company founded in 2011 that provides fully integrated coiled tubing and fracturing solutions. STEPâs combination of modern, fit-for-purpose fracturing and coiled tubing equipment has differentiated it in plays where wells are deeper, have longer laterals, and higher pressure.
Initially operating as a specialized, deep capacity coiled tubing provider, STEPâs service offering expanded to include fully integrated coiled tubing and fracturing solutions. STEP operates primarily in the Montney, Duvernay, and Viking in Canada, and in the Anadarko, Arkoma, Permian, Eagle Ford, Haynesville, and Bakken in the U.S. STEPâs track record of safety, efficiency and execution drives repeat business from its blue-chip exploration and production clients.
| For more information please contact: | |
| Regan Davis President & Chief Executive Officer Telephone:Â 403-457-1772 | Michael Kelly Executive Vice President & Chief Financial Officer Telephone:Â 587-393-9731 |
| Â | Â |
| Rob Kukla Director, Corporate Development Telephone:Â 281-606-3644 Email:Â investor_relations@step-es.com Web:Â www.stepenergyservices.com | Â |
HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Urges 500.com (WBAI) Investors to Contact Its Attorneys Immediately, Securities Class Action Filed Against WBAI
SAN FRANCISCO, Jan. 22, 2020 (GLOBE NEWSWIRE) -- Hagens Berman encourages 500.com Limited (NYSE: WBAI) investors who have suffered significant losses to submit their losses now to learn if they qualify to recover their investment losses. A securities class action was recently filed against the company and senior executives, and certain investors may have valuable claims.Â
Class Period: Apr. 27, 2018 â Dec. 31, 2019
Lead Plaintiff Deadline: Mar. 16, 2020
Sign Up: www.hbsslaw.com/investor-fraud/WBAI
Contact An Attorney Now: WBAI@hbsslaw.com
                       844-916-0895
500.com Limited (WBAI) Securities Class Action:
The complaint alleges that Chinese online gambling operator 500.com concealed that its executives were bribing Japanese lawmakers to influence Japanese gaming policy and secure the development of a casino resort project in Japan.
The market began to learn the truth on Dec. 27, 2019, when media outlets reported that a Japanese elected official was arrested by Tokyo prosecutors and charged with receiving 3 million yen ($27,400) in cash from 500.com.
Then, on Dec. 31, 2019, 500.com announced the initiation of an internal investigation into alleged illegal money transfers, the concurrent resignation of its Chairman of the Board, and the âtemporaryâ departure of its Chief Executive Officer pending the outcome of the internal investigation.
News of 500.com illegal money transfers caused the price of WBAI ADRs to decline sharply.
âWeâre focused on investorsâ losses and proving 500.com concealed its involvement in an illicit lobby scheme,â said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you purchased shares of 500.com and suffered significant losses, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding 500.com should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email WBAI@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:Â
Reed Kathrein, 844-916-0895
HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Investors in Opera Limited (OPRA) Who Have Suffered Significant Losses to Contact its Attorneys: Firm Investigating Possible Securities Fraud
SAN FRANCISCO, Jan. 22, 2020 (GLOBE NEWSWIRE) -- Hagens Berman urges Opera (NASDAQ: OPRA) investors who have suffered significant losses to submit their losses now to learn if they qualify to recover their investment losses. The firm is actively investigating whether the company and senior executives violated federal securities laws, and certain investors may have valuable claims.Â
Relevant Holding Period: Aug. 26, 2018 - Jan. 16, 2020
Sign Up: Â www.hbsslaw.com/investor-fraud/OPRA
Contact An Attorney Now: Â OPRA@hbsslaw.com
                        844-916-0895
Opera Limited (OPRA) Investigation:
The investigation concerns whether Opera concealed its noncompliance with Googleâs rules and certain related-party business transactions.
After going public in mid-2018, Opera has significantly pivoted from its core browser business to short term lending in Africa and India, operating primarily through apps offered on Googleâs Play Store. Indeed, Operaâs short-term loan business now accounts for over 40% of the companyâs total revenue.
On Jan. 16, 2020, however, Hindenburg Research published a scathing report about the company, accusing Opera of engaging in predatory short-term loans in Africa and India, deploying deceptive âbait and switchâ tactics to lure borrowers, and charging egregious interest rates ranging from about 365% - 876%. According to the report, Operaâs apps are now âin black and white violation of numerous Google rules,â and therefore âthis entire line of business is at risk of disappearing or being severely curtailed.â
In addition, the Report accuses Operaâs chairman and CEO, Yahui Zhou, of diverting $40 million of company proceeds to entities owned or influenced by Zhou through a slew of questionable related-party transactions that were not adequately disclosed to investors.
In response, the price of Opera ADRs fell sharply during intraday trading on Jan. 16, 2020. Opera ADRs now trade sharply below Operaâs IPO and secondary offering prices.
âWeâre focused on investorsâ losses and determining whether Opera failed to adequately disclose (i) the risks posed by its short-term loan business and (ii) questionable related-party deals,â said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you purchased ADRs of Opera and suffered significant losses, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Opera Limited should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email OPRA@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 844-916-0895
Avoya Travel Unveils New Innovation Center to Fuel Future Growth
Grand Opening Celebration Announced to Usher in New Era for Company
FT. LAUDERDALE, Fla., Jan. 22, 2020 (GLOBE NEWSWIRE) -- Avoya Travel®, one of the travel industryâs most innovative brands, has opened a new Innovation Center in San Diego County, California, to help drive greater levels of collaboration, innovation and growth for the Avoya platform. The new and inspiring center brings to life Avoyaâs mission, vision and values with exciting environmental and design elements aligned to the companyâs Avoya 2025 goal of becoming the worldâs number one vacation platform.
The Innovation Center will help Avoya continue to attract and retain top talent by creating meaningful interactions and experiences, and to develop more innovative advancements to Agent Powerâ¢, Avoyaâs proprietary agent operating system, along with further platform capabilities that will generate even more Shared Success⢠across all stakeholders â travelers, supplier partners and Independent Agencies.
Avoya integrated new video-first technology into the buildout to accelerate collaboration as well as cross-team productivity. Now, in-office personnel can better connect with remote employees, supplier partners and Independent Agencies using video chat and live-stream meetings. The new Innovation Center has integrated seating arrangements that allow employees at all levels increased access to one another with the goal of improving teamwork, communication and collaboration.
Employees enjoy top-tier amenities including thoughtful individual workspaces, private phone booths, collaborative meeting rooms and gathering areas. A lounge offers comfortable pods and couches to support a variety of staff work styles and functions. The main hub is an atrium café that encourages employee community and wellbeing. Here staff have flexibility, can socialize, listen to music and have access to an arcade, unlimited snack bar and more. The open area can accommodate inclusive company events, meetings and a broad range of functions for all staff and stakeholders. Ergonomic sit-to-stand desks, a new aromatherapy room, game room, gym access and a premium coffee station are also available to facilitate high performance with comfort, convenience and wellness throughout the workday. Â
Avoyaâs recently refreshed logo and color palette are integrated into purposeful interior design that brings the Avoya brand experience to life. Intentionally playing on the natural light and mountain views, the interior elements create an organic, clean and bright feel to Avoyaâs new Innovation Center. A lush living wall will greet visitors, warm wood grains and other features inspired by the earthâs topography, maps and travel give natural energy to the workplace. Â
Avoya will host a Grand Opening on January 23, 2020, and welcome VIP stakeholders, including Independent Agency owners and supplier partners to tour the new Innovation Center and celebrate the successes of 2019 and a very exciting 2020 and beyond. During the opening celebration Avoya will highlight Phase One accomplishments of Avoya 2025, the companyâs aggressive five phase growth plan to becoming the number one vacation platform, and will preview some of the innovative Phase Two initiatives.
âWe are thrilled to open our new Innovation Center where our staff and key stakeholders can inspire and invent together in an environment thoughtfully designed to embody Avoya Travelâs core values and our mission of enriching lives through inspiring travel experiences as the number one vacation platform,â said Jeff Anderson, Co-President of Avoya Travel. âWe look forward to showcasing the new center at our Grand Opening event and celebrating what Avoya Travel, our employee family, supplier partners and Independent Agencies have already accomplished together with our innovative plans for the future of vacation travel planning.âÂ
The new Innovation Center is in San Marcos, California, a rapidly developing community with many dining and entertainment options nearby and easy access to public rail transportation.
About Avoya Travel
Headquartered in Ft. Lauderdale, Florida, Avoya Travel® has more than 170 support employees across the country providing services to more than 1,350 Independent Agencies in the Avoya Networkâ¢. Avoya has a longstanding reputation for providing unmatched resources and services to thousands of companies including cruise lines, tour companies, resorts and the Independent Agencies in the Avoya Network, one of the largest and most successful independent travel agency networks in the world. Family-owned, Avoyaâs Shared Success⢠model is built on a foundation of Integrity and Professionalismâ¢. Avoya has been an American Express Travel Representative for more than 30 years, and is one of their largest producers of cruises, tours and vacations through its Network of Independent Agencies.
Some of the innovative services and resources offered by Avoya include optional marketing programs like Live Leadsâ¢, the first, the best and only patented solution for offering new travelers exclusively to Independent Agencies in the Avoya Network; unparalleled agency business support services; fully integrated, proprietary and patented SaaS technology, Agent Powerâ¢; award-winning professional development and education programs; American Express Travel benefits; Instant Commission⢠and more.
Through Avoyaâs platform travelers worldwide can be connected to an elite network of independently owned and operated travel agencies and can enjoy exclusive discounts, amenities and first-class customer service. Highly recognized and awarded by cruise lines, tour companies, resorts and others, Avoya Travel has received numerous accolades, including being repeatedly named Travel Partner of the Year by Norwegian Cruise Line, Royal Caribbean, Celebrity Cruises, Carnival Cruises, American Express, Oceania Cruises, MSC Cruises and more.
Travel agency owners, travel professionals and others interested in receiving the unmatched services, marketing, support and technology needed to own and operate their own travel business should contact Avoya Travel at 800-521-2597 or visit www.AvoyaNetwork.com. Travelers interested in booking their next vacation with an expert Independent Agency in the Avoya Network should call 800-753-1463 or visit www.AvoyaTravel.com.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/152bb17c-49e8-40c3-85fa-2a1835df232a
https://www.globenewswire.com/NewsRoom/AttachmentNg/f071ab12-335d-4d7f-ad40-b7b7ccb5f5d5
https://www.globenewswire.com/NewsRoom/AttachmentNg/0ea864d5-cdda-4860-b1e0-957f5e3b3888
https://www.globenewswire.com/NewsRoom/AttachmentNg/7fab8a90-80cf-4eac-939a-6eb7b4378d1f
Justice and Public Safety Ministers from across the country meet to work together on issues important to Canadians
VICTORIA, Jan. 22, 2020 /CNW/ - Today, federal, provincial and territorial (FPT) ministers responsible for justice and public safety concluded a one-day meeting to discuss key priorities of Canadians.
With several new federal and provincial government mandates, this meeting was an opportunity to build upon relationships and outline key priorities of the different jurisdictions, such as Indigenous justice issues, restorative justice, medical assistance in dying, conversion therapy, rural crime, firearms, money laundering, cannabis enforcement, human trafficking, and online child sexual exploitation.
Ministers acknowledged the Calls for Justice contained in the final report of the National Inquiry into Missing and Murdered Indigenous Women and Girls. Ministers will continue their collaboration to reduce violence against, and victimization of, Indigenous women, girls, and LGBTQ2S persons.
Ministers also recognized that, in partnership with Indigenous Peoples, all governments have a responsibility to address overrepresentation of Indigenous peoples in the justice system as both victims and offenders.
Ministers reiterated their commitment to building safer and healthier communities through the expanded use of restorative justice in the criminal justice system – an approach that seeks to repair harm and provide accountability – where and as appropriate. In 2018, ministers underscored the importance of restorative justice in addressing repeat offences and overrepresentation of Indigenous and vulnerable populations in the criminal justice system. At the time, they also committed to a goal of a 5% increase in the use of restorative justice, where possible, by 2021. With this in mind, ministers agreed to release a summary report identifying our country's existing restorative justice programs and agencies, referrals made, and concrete steps jurisdictions have taken to increase the use of restorative justice.
In light of the recent Québec Superior Court ruling on medical assistance in dying, ministers discussed the challenges of, and possible responses to, this difficult, personal, and complex issue. Ministers also affirmed their commitment to high quality hospice or palliative care. Following an update on its ongoing consultations with Canadians, the federal government reiterated its commitment to amend its medical assistance in dying legislation. Ministers affirmed their commitment to protecting vulnerable individuals and the equality rights of all Canadians.
Ministers discussed the dangerous and harmful practice of conversion therapy and support was expressed for legislative and other measures to ban this practice, including the federal government's intention to introduce amendments to the Criminal Code.
Ministers underscored the impact of rural crime and ways to reduce it, including criminal law reform and enhanced police response, so all Canadians, no matter where they live, feel safe, secure, and protected in their communities. Ministers agreed to examine the problem closely and revisit it at the next FPT meeting later this year.
Ministers were also provided with an update on federal measures to reduce gun and gang-related violence across Canada, and discussed related issues such as drug trafficking, illegal gun sales and smuggling, and border security. As part of this conversation, they acknowledged the importance of treating law-abiding firearm owners fairly and with respect.
Ministers discussed money laundering, which is a crime that can affect all Canadians by undermining the integrity of Canada's financial institutions and facilitating organized crime, gang activity, and gun smuggling. Ministers reiterated their support for a coordinated approach to better address this problem.
Ministers shared their views on the impact of the legalization of cannabis and enforcement issues, including the need for resources and tools to continue meeting the shared goals of protecting youth, eliminating illicit sales, combatting organized crime, and addressing drug-impaired driving.
Ministers discussed human trafficking, which disproportionately affects women and girls, particularly Indigenous women and girls. Ministers supported further work to strengthen the response to this serious problem. Following a presentation by the Canadian Centre for Child Protection, ministers affirmed their commitment to combatting online child sexual exploitation and assisting victims.
Ministers will reconvene again in the fall to further collaborate and discuss these and other issues of importance to all jurisdictions.
Prior to the FPT meeting, Hereditary Chief and Songhees Elder, Elmer Seniemten George, welcomed ministers. Ministers had a conversation with representatives from the Assembly of First Nations and the Métis Nation. Participants discussed the federal government's commitment to introduce legislation to implement the United Nations Declaration on the Rights of Indigenous Peoples. Ministers also received a presentation on B.C.'s Indigenous-led, co-developed Indigenous Justice Strategies.
Quick Facts
- The meeting was co-chaired by the Minister of Justice and Attorney General of Canada, David Lametti, P.C. Q.C., M.P, the Minister of Public Safety and Emergency Preparedness, Bill Blair, P.C., C.O.M., M.P, the Attorney General of British Columbia, David Eby, Q.C., and the Minister of Public Safety and Solicitor General of British Columbia, Mike Farnworth.
- Federal, provincial and territorial ministers responsible for justice and public safety typically meet once a year to discuss key justice and public safety issues and give direction to government officials from the various jurisdictions on new and ongoing collaborative work being conducted over the year.
Quotes
"Discussions with provincial and territorial partners are critical to the advancement of issues that affect Canadians from coast to coast to coast as they enhance our ability to work in a coordinated and collaborative way. The discussions we had today were engaging, meaningful and productive, and paved the way for a stronger, more inclusive and more resilient Canada."
David Lametti
Minister of Justice and Attorney General of Canada
"Today's meeting was a positive and constructive start to the new year. Federal, provincial and territorial ministers take very seriously their responsibility to keep Canadians safe in the face of a broad range of threats. I look forward to continuing the essential work we advanced today and making good progress on addressing issues that are of such importance across the country."
Bill Blair
Minister of Public Safety and Emergency Preparedness
"This meeting was another opportunity for justice and public safety ministers to work together on many issues that affect the lives of Canadians. Money laundering, for example, knows no boundaries and is linked to criminal activity across the country. It is vital that we collaborate on common challenges such as this in order to promote justice and safe communities throughout Canada."
David Eby
Attorney General of British Columbia
"This meeting presented an important opportunity to come together to work on the complex issues affecting public safety that confront us all, such as gun and gang violence and progress on the legalization of non-medical cannabis, to name a few. I'm pleased that British Columbia was able to host our federal, provincial and territorial colleagues, and I look forward to our continued collaboration to implement the initiatives discussed and to find lasting solutions that improve public safety and justice for all."
Mike Farnworth
Minister of Public Safety and Solicitor General of British Columbia
Associated Links
- Principles and Guidelines for Restorative Justice Practice in Criminal Matters (2018)
- Restorative Justice – Key Elements of Success
SOURCE Department of Justice Canada
