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EX-99.1 4 v172772_ex99-1.htm PENN VIRGINIA CORPORATION PRESS RELEASE DATED FEBRUARY 1, 2010. Exhibit 99.1 Penn Virginia Corporation Three Radnor Corporate Center, Suite 300, 100 Matsonford Road, Radnor, PA 19087 FOR IMMEDIATE RELEASE Contact: James W. Dean Vice President, Corporate Development Ph: (610) 687-7531 Fax: (610) 687-3688 E-Mail: invest@pennvirginia.com PENN VIRGINIA CORPORATION ANNOUNCES THE CLOSING OF ITS GULF COAST DIVESTITURE FOR $38.0 MILLION PURCHASES SELMA CHALK ASSETS FOR $6.0 MILLION RADNOR, PA (BusinessWire) February 1, 2010 - Penn Virginia Corporation (NYSE: PVA) announced today that it has closed the previously announced sale to a private company of its Gulf Coast assets in south Louisiana and south Texas for $38.0 million. In addition, PVA purchased from the same private company oil and gas assets located in the Gwinville Field in Jefferson Davis County, Mississippi for $6.0 million. The assets acquired in Mississippi, consisting of approximately 1,300 (925 net) acres, are adjacent to PVA's Selma Chalk assets and have an estimated 10 gross horizontal drilling locations. The acquired assets include estimated proved reserves of 3.4 billion cubic feet of natural gas equivalent and current net production of approximately 1.0 million cubic feet of natural gas equivalent per day. ****** Penn Virginia Corporation (NYSE: PVA) is an independent natural gas and oil company focused on the exploration, acquisition, development and production of reserves in onshore regions of the U.S., including East Texas, the Mid-Continent region, Mississippi and the Appalachian Basin. PVA also owns approximately 51 percent of Penn Virginia GP Holdings, L.P. (NYSE: PVG), the owner of the general partner and the largest unit holder of Penn Virginia Resource Partners, L.P. (NYSE: PVR), a manager of coal and natural resource properties and related assets and the operator of a midstream natural gas gathering and processing business. Certain statements contained herein that are not descriptions of historical facts are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: the volatility of commodity prices for natural gas, natural gas liquids (NGLs) and crude oil; integrating and managing the newly acquired oil and gas assets with PVA's existing oil and gas exploration and production business; the extent to which the amount and quality of actual production of our oil and natural gas differs from estimated proved reserves; the availability and costs of required drilling rigs, production equipment and materials; our ability to obtain adequate pipeline transportation capacity for our oil and gas production; competition among producers in the oil and natural gas industry generally; operating risks, including unanticipated geological problems, incidental to our business; the occurrence of unusual weather or operating conditions, including force majeure events; environmental risks affecting the drilling and producing of oil and gas wells; the timing of receipt of necessary governmental permits by us; accidents; changes in governmental regulation or enforcement practices, especially with respect to environmental, health and safety matters; risks and uncertainties relating to general domestic and international economic conditions (including inflation, interest rates and financial and credit markets) and political conditions (including the impact of potential terrorist attacks); and the other risks set forth in our Annual Report on Form 10-K for the fiscal year ended December 31, 2008. Additional information concerning these and other factors can be found in our press releases and public periodic filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2008. Many of the factors that will determine our future results are beyond the ability of management to control or predict. Readers should not place undue reliance on forward-looking statements, which reflect management's views only as of the date hereof. We undertake no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
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1252849-000125284917000107-ex991pressrelease101117
EX-99.1 3 ex991pressrelease101117.htm PRESS RELEASE Exhibit Exhibit 99.1 Columbia Property Trust Increases its Midtown South Presence with Two Chelsea Acquisitions Acquires 245-249 West 17th Street and 218 West 18th Street from New York REIT NEW YORK (Oct. 11, 2017) - Columbia Property Trust, Inc. (NYSE: CXP) announced today that it has purchased two fully leased Class-A office properties in New York's Chelsea submarket from New York REIT (NYRT) for $514 million. The acquisition encompasses 245-249 West 17th Street, two adjoining office buildings collectively comprising 281,294 square feet, and 218 West 18th Street, a 165,670-square-foot office building. With this acquisition, Columbia's presence in New York has increased to seven Class-A properties comprising a total of 2.6 million square feet, which together represent 44 percent of Columbia's overall portfolio based on gross real estate assets. "Our acquisition of these prime Midtown South buildings allows us to expand within New York, where we already held the largest concentration in our portfolio, and will further establish Columbia as a significant player in Manhattan's most dynamic office district", said Nelson Mills, Columbia's president and CEO. "We view these acquisitions, along with our recent share repurchases, as an excellent use of the capital raised from our non-core dispositions". Jim Fleming, executive vice president and CFO, continued, "We believe these recent investments, along with significant embedded growth in our existing portfolio from recent leasing achievements, will allow us to deliver meaningful earnings growth over the next several quarters. Notably, our recent execution of a 119,000-square-foot renewal with DLA Piper at our Silicon Valley property last month addressed our largest imminent lease expiration risk, putting our portfolio at 95 percent leased overall, with very little near-term roll remaining". Columbia's senior vice president in the Eastern region, Adam Popper, added, "Based on the leasing momentum we are experiencing at our nearby assets, particularly with our recent track record at 315 Park Avenue South, we remain very confident in the Midtown South and Chelsea submarkets. TAMI and financial services users alike continue to embrace these submarkets as one of the preferred destinations for tenants in NYC, with strong demand for assets like these that offer smaller floor plates, fully renovated interiors, and attractive amenities". Twitter's New York headquarters fill most of the boutique buildings on 17th Street, which include a six-story western tower and 12-story eastern tower that also includes one of the largest showrooms of the high-end modern furniture chain Room & Board. The nearby 12-story building on 18th Street houses the New York City headquarters of beverage and lifestyle company Red Bull, along with several other office tenants. This acquisition does not involve Columbia's recently initiated joint venture with Allianz Real Estate. About Columbia Property Trust Columbia Property Trust (NYSE: CXP) owns and operates Class-A office buildings concentrated in high-barrier-to-entry, gateway markets. Its portfolio includes 19 operating properties containing over nine million square feet, primarily located in New York, San Francisco, and Washington, D.C. Columbia carries an investment-grade rating from both Moody's and Standard & Poor's. For more information, please visit www.columbia.reit. Forward-Looking Statements: Certain statements contained in this press release other than historical facts may be considered 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. We intend for all such forward-looking statements to be covered by the applicable safe harbor provisions for forward-looking statements contained in those acts. Such statements include, in particular, statements about our share repurchase program and are subject to certain risks and uncertainties, including known and unknown risks, which could cause actual results to differ materially from those projected or anticipated. Therefore, such statements are not intended to be a guarantee of our performance in future periods. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may", "will", "expect", "intend", "anticipate", "estimate", "believe", "continue", or other similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. We make no representations or warranties (express or implied) about the accuracy of any such forward-looking statements contained in this press release, and we do not intend to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Any such forward-looking statements are subject to risks, uncertainties, and other factors and are based on a number of assumptions involving judgments with respect to, among other things, future economic, competitive, and market conditions, all of which are difficult or impossible to predict accurately. To the extent that our assumptions differ from actual conditions, our ability to accurately anticipate results expressed in such forward-looking statements, including our ability to generate positive cash flow from operations, make distributions to stockholders, and maintain the value of our real estate properties, may be significantly hindered. See Item 1A in the Company's most recently filed Annual Report on Form 10-K for the year ended December 31, 2016, for a discussion of some of the risks and uncertainties that could cause actual results to differ materially from those presented in our forward-looking statements. The risk factors described in our Annual Report are not the only ones we face, but do represent those risks and uncertainties that we believe are material to us. Additional risks and uncertainties not currently known to us or that we currently deem immaterial may also harm our business. Media Contact: Investor Relations: Bud Perrone Matt Stover T 212 843 8068 T 404-465-2227 E bperrone@rubenstein.com E IR@columbiapropertytrust.com
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47518-000121465912003183-ex99_1
EX-99.1 3 ex99_1.htm EXHIBIT 99.1 ex99_1.htm Exhibit 99.1 CONTACT INFORMATION Investor Relations Contact: Blair A. (Andy) Rieth, Jr., Vice President, Investor Relations Phone: 812-931-2199 Email: andy.rieth@hill-rom.com Media Contact: Marylou McNally, Vice President, Corporate Communications Phone: 312-819-7233 Email: marylou.mcnally@hill-rom.com Hill-Rom Acquires Aspen Surgical Products BATESVILLE, Ind., July 25, 2012 -- Hill-Rom Holdings, Inc. (NYSE: HRC), a global leader in healthcare technologies, today announced it has completed the $400 million purchase of privately held Aspen Surgical Products. Aspen Surgical, based in Michigan, provides a portfolio of well-established surgical consumable and specialty medical products focused on improving the safety of patients and health care professionals. The product lines include market leading Bard-Parker ® conventional and safety scalpels and blades, Colby fluid collection products, Richard-Allan™ specialty needles, a variety of other operating room disposables and instrument care products as well as wound care dressings. The acquisition of Aspen Surgical further develops Hill-Rom's surgical business, adding a portfolio of consumable products and expanding its position in North American and European surgical markets. The transaction is expected to be accretive approximately $0.02 to fiscal year 2012 earnings per share, excluding non-recurring purchase accounting items and other acquisition and integration related costs. "With the addition of Aspen Surgical, Hill-Rom is well positioned for growth and geographic expansion in our surgical business, particularly in the safety product segments", said John J. Greisch, President and CEO of Hill-Rom. "This acquisition further expands our global portfolio beyond our core franchise with a business that is immediately accretive to earnings per share and adds recurring revenue to our existing surgical platform". Aspen Surgical has annual revenue of approximately $120 million. The transaction was funded with a combination of cash and bank debt. "Aspen Surgical and Hill-Rom share a similar mission to enhance outcomes with products that help ensure a safe environment in surgical and other health care settings", said Greg Pritchard, formerly CEO of Aspen Surgical and now Senior Vice President and President, Surgical and Respiratory Care at Hill-Rom. "We look forward to leveraging the valued Hill-Rom brand to expand Aspen Surgical's presence around the world". - more - Hill-Rom will discuss the acquisition during the company's Fiscal 2012 Third Quarter Earnings Conference Call tomorrow, Thursday, July 26 from 8:00 a.m. to 9:00 a.m. ET. ABOUT HILL-ROM HOLDINGS, INC. Hill-Rom is a leading worldwide manufacturer and provider of medical technologies and related services for the health care industry, including patient support systems, safe mobility and handling solutions, non-invasive therapeutic products for a variety of acute and chronic medical conditions, medical equipment rentals, surgical products and information technology solutions. Hill-Rom's comprehensive product and service offerings are used by health care providers across the health care continuum and around the world in hospitals, extended care facilities and home care settings to enhance the safety and quality of patient care. Hill-Rom… enhancing outcomes for patients and their caregivers . www.hill-rom.com DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS Certain statements herein contain forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the Company's future plans, objectives, beliefs, expectations, representations and projections. It is important to note that forward-looking statements are not guarantees of future performance, and the Company's actual results could differ materially from those set forth in any forward-looking statements. For a more in depth discussion of factors that could cause actual results to differ from those contained in forward-looking statements, see the discussions under the heading "Risk Factors" in the Company's previously filed most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. The Company assumes no obligation to update or revise any forward-looking statements. ###
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895126-000089512614000287-exhibit_991xmarcellusxpres
EX-99.1 2 exhibit_991xmarcellusxpres.htm MARCELLUS PRESS RELEASE Exhibit_ 99.1_Marcellus_Press_Release Exhibit 99.1 News Release FOR IMMEDIATE RELEASE DECEMBER 22, 2014 CHESAPEAKE ENERGY CORPORATION CLOSES SOUTHERN MARCELLUS AND UTICA SHALE SALE; ANNOUNCES $1 BILLION COMMON STOCK REPURCHASE AUTHORIZATION OKLAHOMA CITY, DECEMBER 22, 2014 - Chesapeake Energy Corporation (NYSE:CHK) today announced the closing of its asset sale to Southwestern Energy Company (NYSE:SWN) and initiatives to further enhance shareholder value. Chesapeake closed the previously announced sale of its assets in the Southern Marcellus Shale and a portion of the Eastern Utica Shale to Southwestern for net proceeds of $4.975 billion. The $400 million adjustment to the previously reported $5.375 billion sale price is attributable to a settlement for various items, including Southwestern's waiver of any future claims related to title defects and environmental liabilities. The properties sold to Southwestern consist of approximately 413,000 net acres and approximately 1,500 wells located in northern West Virginia and southern Pennsylvania, along with related property, plant and equipment. Net production of the divested properties in mid-December was approximately 57,000 barrels of oil equivalent (boe) per day. This represents approximately 7% of a new company record for total production that was achieved last week of 770,000 boe per day. Doug Lawler, Chesapeake's Chief Executive Officer, commented, "This transaction marks another significant event in Chesapeake's transformation and solidifies our strong financial position. With the closing of this transaction and the available borrowing capacity under our unsecured revolving credit facility, Chesapeake now has a liquidity position of approximately $9 billion, putting Chesapeake in an advantageous position to enhance shareholder value in this volatile commodity price market. Consistent with our financial strength and our focus on enhancing shareholder value, Chesapeake's Board of Directors has authorized a $1 billion common stock repurchase program. Further, building on our outstanding operational momentum of 2014, we will be focused on additional strategic growth opportunities to enhance our asset portfolio and continue to improve our ability to deliver top quartile growth metrics and shareholder returns". INVESTOR CONTACT: MEDIA CONTACT: CHESAPEAKE ENERGY CORPORATION Brad Sylvester, CFA (405) 935-8859 ir@chk.com Gordon Pennoyer (405) 935-8878 media@chk.com 6100 North Western Avenue P.O. Box 18496 Oklahoma City, OK 73154 Chesapeake Energy Corporation (NYSE:CHK) is the second-largest producer of natural gas and the 11th largest producer of oil and natural gas liquids in the U.S. Headquartered in Oklahoma City, the company's operations are focused on discovering and developing its large and geographically diverse resource base of unconventional natural gas and oil assets onshore in the U.S. The company also owns substantial marketing and compression businesses. Further information is available at www.chk.com where Chesapeake routinely posts announcements, updates, events, investor information, presentations and news releases. This news release includes "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. Forward-looking statements are statements other than statements of historical fact that give our current expectations or forecasts of future events. They include, but are not limited to, the effect of the asset sale and use of proceeds, the common stock repurchase program and other strategic growth alternatives on the Company's efforts to enhance current and long-term shareholder value, deliver top quartile growth metrics and shareholder returns. The company's ability to execute on the stock repurchase program depends upon many factors, including the price of the common stock, the availability of other alternatives and market conditions. Although we believe the expectations and forecasts reflected in the forward-looking statements are reasonable, we can give no assurance they will prove to have been correct. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Chesapeake does not intend to update any forward looking statements. Factors that could cause actual results to differ materially from expected results include those described under "Risk Factors" in Item 1A of our 2013 Annual Report on Form 10-K, as filed with the U.S. Securities and Exchange Commission on February 27, 2014. These risk factors include: the volatility of natural gas, oil and NGL prices; the limitations our level of indebtedness may have on our financial flexibility; declines in the prices of natural gas and oil potentially resulting in a write-down of our asset carrying values; the availability of capital on an economic basis, including through planned asset sales, to fund reserve replacement costs; our ability to replace reserves and sustain production; uncertainties inherent in estimating quantities of natural gas, oil and NGL reserves and projecting future rates of production and the amount and timing of development expenditures; our ability to generate profits or achieve targeted results in drilling and well operations; leasehold terms expiring before production can be established; hedging activities resulting in lower prices realized on natural gas, oil and NGL sales; the need to secure hedging liabilities and the inability of hedging counterparties to satisfy their obligations; drilling and operating risks, including potential environmental liabilities; legislative and regulatory changes adversely affecting our industry and our business, including initiatives related to hydraulic fracturing, air emissions and endangered species; a deterioration in general economic, business or industry conditions having a material adverse effect on our results of operations, liquidity and financial condition; oilfield services shortages, gathering system and transportation capacity constraints and various transportation interruptions that could adversely affect our revenues and cash flow; adverse developments and losses in connection with pending or future litigation and regulatory investigations; cyber-attacks adversely impacting our operations; and an interruption at our headquarters that adversely affects our business. 2
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".", "This", "news", "release", "includes", "\"", "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", ".", "Forward", "-", "looking", "statements", "are", "statements", "other", "than", "statements", "of", "historical", "fact", "that", "give", "our", "current", "expectations", "or", "forecasts", "of", "future", "events", ".", "They", "include", ",", "but", "are", "not", "limited", "to", ",", "the", "effect", "of", "the", "asset", "sale", "and", "use", "of", "proceeds", ",", "the", "common", "stock", "repurchase", "program", "and", "other", "strategic", "growth", "alternatives", "on", "the", "Company", "'s", "efforts", "to", "enhance", "current", "and", "long", "-", "term", "shareholder", "value", ",", "deliver", "top", "quartile", "growth", "metrics", "and", "shareholder", "returns", ".", "The", "company", "'s", "ability", "to", "execute", "on", "the", "stock", "repurchase", "program", "depends", "upon", "many", "factors", ",", "including", "the", "price", "of", "the", "common", "stock", ",", "the", "availability", "of", "other", "alternatives", "and", "market", "conditions", ".", "Although", "we", "believe", "the", "expectations", "and", "forecasts", "reflected", "in", "the", "forward", "-", "looking", "statements", "are", "reasonable", ",", "we", "can", "give", "no", "assurance", "they", "will", "prove", "to", "have", "been", "correct", ".", "They", "can", "be", "affected", "by", "inaccurate", "assumptions", "or", "by", "known", "or", "unknown", "risks", "and", "uncertainties", ".", "Chesapeake", "does", "not", "intend", "to", "update", "any", "forward", "looking", "statements", ".", "Factors", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "expected", "results", "include", "those", "described", "under", "\"", "Risk", "Factors", "\"", "in", "Item", 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"related", "to", "hydraulic", "fracturing", ",", "air", "emissions", "and", "endangered", "species", ";", "a", "deterioration", "in", "general", "economic", ",", "business", "or", "industry", "conditions", "having", "a", "material", "adverse", "effect", "on", "our", "results", "of", "operations", ",", "liquidity", "and", "financial", "condition", ";", "oilfield", "services", "shortages", ",", "gathering", "system", "and", "transportation", "capacity", "constraints", "and", "various", "transportation", "interruptions", "that", "could", "adversely", "affect", "our", "revenues", "and", "cash", "flow", ";", "adverse", "developments", "and", "losses", "in", "connection", "with", "pending", "or", "future", "litigation", "and", "regulatory", "investigations", ";", "cyber", "-", "attacks", "adversely", "impacting", "our", "operations", ";", "and", "an", "interruption", "at", "our", "headquarters", "that", "adversely", "affects", "our", "business", ".", "2" ]
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1110607-000101968708002596-deepdown_8ka2-ex9901
EX-99.1 6 deepdown_8ka2-ex9901.htm PRESS RELEASE deepdown_8k1-ex9901.htm EXHIBIT 99.1 NEWS RELEASE June 5, 2008 OTC BB: DPDW DEEP DOWN SELLS $40 MILLION OF COMMON STOCK CHANNELVIEW, TX - June 5, 2008 - Deep Down, Inc. (OTCBB: DPDW) announced today that it has closed a $40 million private placement of common stock to institutional and accredited investors. Deep Down sold 57,142,857 shares of its Common Stock at a price of $0.70 per share. As part of this transaction, Deep Down will file a registration statement covering the resale of the shares of Common Stock acquired in this offering. Dahlman Rose & Company, LLC acted as exclusive placement agent for the financing. Deep Down used $22.0 million of the net proceeds to complete the previously announced acquisition of Flotation Technologies, which closed today. Flotation recently introduced its patent pending CoreTec (TM) drilling riser buoyancy modules, which Deep Down believes can become the industry standard for ultra deepwater applications. Deep Down will use approximately $12.5 million of the net proceeds to repay a $12 million mezzanine facility that was provided by Prospect Capital Corporation. This mezzanine facility has a 15.5% annual interest rate. The Company will use the remaining net proceeds for working capital and general corporate purposes. "We are extremely pleased by the vote of confidence conveyed by the professional investors who are participating in this private placement. The ability to raise $40 million with these sophisticated investors validates the business plan and strategy we have developed", commented Ronald E. Smith, Deep Down's President and CEO. "Repayment of the mezzanine facility will give us an essentially debt-free balance sheet and save us over $2.0 million per year in interest and other related costs", added Eugene L. Butler, Deep Down's CFO. "As evidenced by the recent $9 million letter of intent from Delba International to supply and install the deepwater marine drilling riser flotation system for the new-build Delba III semisubmersible drilling rig, we are already experiencing significantly positive developments from our planned ownership of Flotation Technologies", concluded Robert E. Chamberlain, Jr., Deep Down's Chairman. About Deep Down, Inc. Deep Down specializes in the provision of innovative solutions, installation management, engineering services, support services, custom fabrication and storage management services for the offshore subsea control, umbilical, and pipeline industries. The company fabricates component parts of subsea distribution systems and assemblies that specialize in the development of subsea fields and tie backs. These items include umbilicals, flow lines, distribution systems, pipeline terminations, controls, winches, and launch and retrieval systems, among others. Deep Down provides these services from the initial field conception phase, through manufacturing, site integration testing, installation, topside connections, and the final commissioning of a project. The Company's Flotation Technologies subsidiary is a recognized leader in the design and manufacture of deepwater buoyancy systems, specializing in Flotec™ syntactic foam and polyurethane elastomer products. With extensive engineering, design, fabrication, and analysis capabilities, Flotation Technologies provides quick turnaround, cost-effective buoyancy and elastomer products to the worldwide oceanographic, offshore energy, seismic, and military markets. Page 1 The Company's Mako subsidiary serves the growing offshore petroleum and marine industries with technical support services, and products vital to offshore petroleum production, through rentals of its remotely operated vehicles (ROV), topside and subsea equipment, and diving support systems used in diving operations, maintenance and repair operations, offshore construction, and environmental/marine surveys. The Company's ElectroWave subsidiary offers products and services in the fields of electronic monitoring and control systems for the energy, military, and commercial business sectors. ElectroWave designs, manufactures, installs, and commissions integrated PLC and SCADA based instrumentation and control systems, including ballast control and monitoring, drilling instrumentation, vessel management systems, marine advisory systems, machinery plant control and monitoring systems, and closed circuit television systems. The Company's strategy is to become a leading provider of products and services to the offshore industry, including shallow, deep and ultra-deep water applications in oil and gas exploration, development and production activities and maritime operations. Management plans to achieve this strategy through organic growth and strategic acquisitions of complementary businesses with technological advantages in deepwater environments. Deep Down's customers include Acergy, Aker Kvaerner, Amerada Hess, Anadarko Petroleum Corporation, BHP, BP Petroleum, Cabett, Cooper Cameron, Chevron Corporation, Dril-Quip, Inc., Devon Energy Corporation, Diamond Offshore, Duco, Exxon Mobil Corporation, Helix, JDR, Kerr-McGee Corporation, Marinette Marine Corporation, Marathon Oil Corporation, Nexans, Inc., Noble Energy Inc., Oceaneering International, Inc., Oil States, Petrobras, Royal Dutch Shell, Statoil, Subsea 7, Inc., Technip, Transocean Offshore, Veolia Environmental Services and Wellstream International, among others. For further company information, please visit www.deepdowninc.com , ,and www.flotec.com , www.makotechnologies.com and www.electrowaveusa.com . For Further Information Steven Haag, Investor Relations ir@deepdowninc.com 281-862-2201 (O) 281-862-2522 (F) This release may contain forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, and accordingly, the cautionary statements contained in Deep Down's Annual Report on Form 10-KSB for the year ended Dec. 31, 2007 and Quarterly Report on Form 10-QSB for the quarter ended March 31, 2008, and other filings with the Securities and Exchange Commission are incorporated herein by reference. These factors include, but are not limited to: the offshore oil and gas industry is a historically cyclical industry with levels of activity that are significantly affected by the levels and volatility of oil and gas prices; numerous operating hazards that may not be covered by insurance; occurrence of an event not fully covered by insurance; losses on fixed-price contracts; failure to develop new products; Loss of our key management or other personnel; failure to integrate business that we acquire; risks relating to international operations; operating hazards and risks relating to offshore oilfield operations; Laws and government regulations; Environmental laws and regulations and failure to comply with such laws and regulations; Provisions in our corporate documents and Nevada law could delay or prevent a change in control of our Company; We may be unable to successfully compete with other manufacturers of drilling and production equipment; The loss of a significant customer could have an adverse impact on our financial results; Our customers' industries are undergoing continuing consolidation; Increases in the cost of raw materials and energy used in our manufacturing processes; Future capital needs; We depend on third party suppliers for timely delivery of raw materials and supplies; risks relating to protecting our intellectual property; risks relating to infringing on the intellectual property rights of third parties; Limitation on remedies, indemnification. One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements", generally preceded by words such as "plans", "expects", "believes," "anticipates", or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and actual results and performance in future periods may be materially different from any future results or performance suggested by the forward-looking statements in this release. Deep Down expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in its expectations of results or any change in events. Page 2
[ "EX", "-", "99", ".", "1", "6", "deepdown", "_", "8ka2", "-", "ex9901", ".", "htm", "PRESS", "RELEASE", "deepdown", "_", "8k1", "-", "ex9901", ".", "htm", "EXHIBIT", "99", ".", "1", "NEWS", "RELEASE", "June", "5", ",", "2008", "OTC", "BB", ":", "DPDW", "DEEP", "DOWN", "SELLS", "$", "40 MILLION", "OF", "COMMON", "STOCK", "CHANNELVIEW", ",", "TX", "-", "June", "5", ",", "2008", "-", "Deep", "Down", ",", "Inc", ".", "(", "OTCBB", ":", "DPDW", ")", "announced", "today", "that", "it", "has", "closed", "a", "$", "40 million", "private", "placement", "of", "common", "stock", "to", "institutional", "and", "accredited", "investors", ".", "Deep", "Down", "sold", "57,142,857", "shares", "of", "its", "Common", "Stock", "at", "a", "price", "of", "$", "0.70", "per", "share", ".", "As", "part", "of", "this", "transaction", ",", "Deep", "Down", "will", "file", "a", "registration", "statement", "covering", "the", "resale", "of", "the", "shares", "of", "Common", "Stock", "acquired", "in", "this", "offering", ".", "Dahlman", "Rose", "&", "Company", ",", "LLC", "acted", "as", "exclusive", "placement", "agent", "for", "the", "financing", ".", "Deep", "Down", "used", "$", "22.0 million", "of", "the", "net", "proceeds", "to", "complete", "the", "previously", "announced", "acquisition", "of", "Flotation", "Technologies", ",", "which", "closed", "today", ".", "Flotation", "recently", "introduced", "its", "patent", "pending", "CoreTec", "(", "TM", ")", "drilling", "riser", "buoyancy", "modules", ",", "which", "Deep", "Down", "believes", "can", "become", "the", "industry", "standard", "for", "ultra", "deepwater", "applications", ".", "Deep", "Down", "will", "use", "approximately", "$", "12.5", "million", "of", "the", "net", "proceeds", "to", "repay", "a", "$", "12 million", "mezzanine", "facility", "that", "was", "provided", "by", "Prospect", "Capital", "Corporation", ".", "This", "mezzanine", "facility", "has", "a", "15", ".", "5", "%", "annual", "interest", "rate", ".", "The", "Company", "will", "use", "the", "remaining", "net", "proceeds", "for", "working", "capital", "and", "general", "corporate", "purposes", ".", "\"", "We", "are", "extremely", "pleased", "by", "the", "vote", "of", "confidence", "conveyed", "by", "the", "professional", "investors", "who", "are", "participating", "in", "this", "private", "placement", ".", "The", "ability", "to", "raise", "$", "40 million", "with", "these", "sophisticated", "investors", "validates", "the", "business", "plan", "and", "strategy", "we", "have", "developed", "\"", ",", "commented", "Ronald", "E", ".", "Smith", ",", "Deep", "Down", "'", "s", "President", "and", "CEO", ".", "\"", "Repayment", "of", "the", "mezzanine", "facility", "will", "give", "us", "an", "essentially", "debt", "-", "free", "balance", "sheet", "and", "save", "us", "over", "$", "2.0 million", "per", "year", "in", "interest", "and", "other", "related", "costs", "\"", ",", "added", "Eugene", "L", ".", "Butler", ",", "Deep", "Down", "'s", "CFO", ".", "\"", "As", "evidenced", "by", "the", "recent", "$", "9 million", "letter", "of", "intent", "from", "Delba", "International", "to", "supply", "and", "install", "the", "deepwater", "marine", "drilling", "riser", "flotation", "system", "for", "the", "new", "-", "build", "Delba", "III", "semisubmersible", "drilling", "rig", ",", "we", "are", "already", "experiencing", "significantly", "positive", "developments", "from", "our", "planned", "ownership", "of", "Flotation", "Technologies", "\"", ",", "concluded", "Robert", "E", ".", "Chamberlain, Jr.", ",", "Deep", "Down", "'", "s", "Chairman", ".", "About", "Deep", "Down", ",", "Inc", ".", "Deep", "Down", "specializes", "in", "the", "provision", "of", "innovative", "solutions", ",", "installation", "management", ",", "engineering", "services", ",", "support", "services", ",", "custom", "fabrication", "and", "storage", "management", "services", "for", "the", "offshore", "subsea", "control", ",", "umbilical", ",", "and", "pipeline", "industries", ".", "The", "company", "fabricates", "component", "parts", "of", "subsea", "distribution", "systems", "and", "assemblies", "that", "specialize", "in", "the", "development", "of", "subsea", "fields", "and", "tie", "backs", ".", "These", "items", "include", "umbilicals", ",", "flow", "lines", ",", "distribution", "systems", ",", "pipeline", "terminations", ",", "controls", ",", "winches", ",", "and", "launch", "and", "retrieval", "systems", ",", "among", "others", ".", "Deep", "Down", "provides", "these", "services", "from", "the", "initial", "field", "conception", "phase", ",", "through", "manufacturing", ",", "site", "integration", "testing", ",", "installation", ",", "topside", "connections", ",", "and", "the", "final", "commissioning", "of", "a", "project", ".", "The", "Company", "'s", "Flotation", "Technologies", "subsidiary", "is", "a", "recognized", "leader", "in", "the", "design", "and", "manufacture", "of", "deepwater", "buoyancy", "systems", ",", "specializing", "in", "Flotec", "™", "syntactic", "foam", "and", "polyurethane", "elastomer", "products", ".", "With", "extensive", "engineering", ",", "design", ",", "fabrication", ",", "and", "analysis", "capabilities", ",", "Flotation", "Technologies", "provides", "quick", "turnaround", ",", "cost", "-", "effective", "buoyancy", "and", "elastomer", "products", "to", "the", "worldwide", "oceanographic", ",", "offshore", "energy", ",", "seismic", ",", "and", "military", "markets", ".", "Page", "1", "The", "Company", "'s", "Mako", "subsidiary", "serves", "the", "growing", "offshore", "petroleum", "and", "marine", "industries", "with", "technical", "support", "services", ",", "and", "products", "vital", "to", "offshore", "petroleum", "production", ",", "through", "rentals", "of", "its", "remotely", "operated", "vehicles", "(", "ROV", ")", ",", "topside", "and", "subsea", "equipment", ",", "and", "diving", "support", "systems", "used", "in", "diving", "operations", ",", "maintenance", "and", "repair", "operations", ",", "offshore", "construction", ",", "and", "environmental", "/", "marine", "surveys", ".", "The", "Company", "'s", "ElectroWave", "subsidiary", "offers", "products", "and", "services", "in", "the", "fields", "of", "electronic", "monitoring", "and", "control", "systems", "for", "the", "energy", ",", "military", ",", "and", "commercial", "business", "sectors", ".", "ElectroWave", "designs", ",", "manufactures", ",", "installs", ",", "and", "commissions", "integrated", "PLC", "and", "SCADA", "based", "instrumentation", "and", "control", "systems", ",", "including", "ballast", "control", "and", "monitoring", ",", "drilling", "instrumentation", ",", "vessel", "management", "systems", ",", "marine", "advisory", "systems", ",", "machinery", "plant", "control", "and", "monitoring", "systems", ",", "and", "closed", "circuit", "television", "systems", ".", "The", "Company", "'s", "strategy", "is", "to", "become", "a", "leading", "provider", "of", "products", "and", "services", "to", "the", "offshore", "industry", ",", "including", "shallow", ",", "deep", "and", "ultra", "-", "deep", "water", "applications", "in", "oil", "and", "gas", "exploration", ",", "development", "and", "production", "activities", "and", "maritime", "operations", ".", "Management", "plans", "to", "achieve", "this", "strategy", "through", "organic", "growth", "and", "strategic", "acquisitions", "of", "complementary", "businesses", "with", "technological", "advantages", "in", "deepwater", "environments", ".", "Deep", "Down", "'s", "customers", "include", "Acergy", ",", "Aker", "Kvaerner", ",", "Amerada", "Hess", ",", "Anadarko", "Petroleum", "Corporation", ",", "BHP", ",", "BP", "Petroleum", ",", "Cabett", ",", "Cooper", "Cameron", ",", "Chevron", "Corporation", ",", "Dril", "-", "Quip", ",", "Inc", ".", ",", "Devon", "Energy", "Corporation", ",", "Diamond", "Offshore", ",", "Duco", ",", "Exxon", "Mobil", "Corporation", ",", "Helix", ",", "JDR", ",", "Kerr", "-", "McGee", "Corporation", ",", "Marinette", "Marine", "Corporation", ",", "Marathon", "Oil", "Corporation", ",", "Nexans", ",", "Inc", ".", ",", "Noble", "Energy", "Inc", ".", ",", "Oceaneering", "International", ",", "Inc", ".", ",", "Oil", "States", ",", "Petrobras", ",", "Royal", "Dutch", "Shell", ",", "Statoil", ",", "Subsea", "7", ",", "Inc", ".", ",", "Technip", ",", "Transocean", "Offshore", ",", "Veolia", "Environmental", "Services", "and", "Wellstream", "International", ",", "among", "others", ".", "For", "further", "company", "information", ",", "please", "visit", "www.deepdowninc.com", ",", ",", "and", "www.flotec.com", ",", "www.makotechnologies.com", "and", "www.electrowaveusa.com", ".", "For", "Further", "Information", "Steven", "Haag", ",", "Investor", "Relations", "ir@deepdowninc.com", "281", "-", "862", "-", "2201", "(", "O", ")", "281", "-", "862", "-", "2522", "(", "F", ")", "This", "release", "may", "contain", "forward", "-", "looking", "statements", ",", "which", "are", "included", "in", "accordance", "with", "the", "\"", "safe", "harbor", "\"", "provisions", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ",", "and", "accordingly", ",", "the", "cautionary", "statements", "contained", "in", "Deep", "Down", "'s", "Annual", "Report", "on", "Form", "10", "-", "KSB", "for", "the", "year", "ended", "Dec.", "31", ",", "2007", "and", "Quarterly", "Report", "on", "Form", "10", "-", "QSB", "for", "the", "quarter", "ended", "March", "31", ",", "2008", ",", "and", "other", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", "are", "incorporated", "herein", "by", "reference", ".", "These", "factors", "include", ",", "but", "are", "not", "limited", "to", ":", "the", "offshore", "oil", "and", "gas", "industry", "is", "a", "historically", "cyclical", "industry", "with", "levels", "of", "activity", "that", "are", "significantly", "affected", "by", "the", "levels", "and", "volatility", "of", "oil", "and", "gas", "prices", ";", "numerous", "operating", "hazards", "that", "may", "not", "be", "covered", "by", "insurance", ";", "occurrence", "of", "an", "event", "not", "fully", "covered", "by", "insurance", ";", "losses", "on", "fixed", "-", "price", "contracts", ";", "failure", "to", "develop", "new", "products", ";", "Loss", "of", "our", "key", "management", "or", "other", "personnel", ";", "failure", "to", "integrate", "business", "that", "we", "acquire", ";", "risks", "relating", "to", "international", "operations", ";", "operating", "hazards", "and", "risks", "relating", "to", "offshore", "oilfield", "operations", ";", "Laws", "and", "government", "regulations", ";", "Environmental", "laws", "and", "regulations", "and", "failure", "to", "comply", "with", "such", "laws", "and", "regulations", ";", "Provisions", "in", "our", "corporate", "documents", "and", "Nevada", "law", "could", "delay", "or", "prevent", "a", "change", "in", "control", "of", "our", "Company", ";", "We", "may", "be", "unable", "to", "successfully", "compete", "with", "other", "manufacturers", "of", "drilling", "and", "production", "equipment", ";", "The", "loss", "of", "a", "significant", "customer", "could", "have", "an", "adverse", "impact", "on", "our", "financial", "results", ";", "Our", "customers", "'", "industries", "are", "undergoing", "continuing", "consolidation", ";", "Increases", "in", "the", "cost", "of", "raw", "materials", "and", "energy", "used", "in", "our", "manufacturing", "processes", ";", "Future", "capital", "needs", ";", "We", "depend", "on", "third", "party", "suppliers", "for", "timely", "delivery", "of", "raw", "materials", "and", "supplies", ";", "risks", "relating", "to", "protecting", "our", "intellectual", "property", ";", "risks", "relating", "to", "infringing", "on", "the", "intellectual", "property", "rights", "of", "third", "parties", ";", "Limitation", "on", "remedies", ",", "indemnification", ".", "One", "of", "our", "most", "important", "responsibilities", "is", "to", "communicate", "with", "shareholders", "in", "an", "open", "and", "direct", "manner", ".", "Comments", "are", "based", "on", "current", "management", "expectations", ",", "and", "are", "considered", "\"", "forward", "-", "looking", "statements", "\"", ",", "generally", "preceded", "by", "words", "such", "as", "\"", "plans", "\"", ",", "\"", "expects", "\"", ",", "\"", "believes", ",", "\"", "\"", "anticipates", "\"", ",", "or", "\"", "intends", ".", "\"", "We", "can", "not", "promise", "future", "returns", ".", "Our", "statements", "reflect", "our", "best", "judgment", "at", "the", "time", "they", "are", "issued", ",", "and", "actual", "results", "and", "performance", "in", "future", "periods", "may", "be", "materially", "different", "from", "any", "future", "results", "or", "performance", "suggested", "by", "the", "forward", "-", "looking", "statements", "in", "this", "release", ".", "Deep", "Down", "expressly", "disclaims", "any", "obligation", "to", "update", "or", "revise", "any", "forward", "-", "looking", "statements", "found", "herein", "to", "reflect", "any", "changes", "in", "its", "expectations", "of", "results", "or", "any", "change", "in", "events", ".", "Page", "2" ]
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724742-000090571809000435-exh99_1
EX-99 3 exh99_1.txt PRESS RELEASE Exhibit 99.1 SYMS CORP CONSUMMATES ITS ACQUISITION OF THE ASSETS OF FILENE'S BASEMENT, INC. Secaucus, New Jersey, June 18, 2009 - Syms Corp (NASDAQ:SYMS), a leading off-price retailer, announced today that following the receipt of Bankruptcy Court approval, Syms consummated its previously announced acquisition of substantially all of the assets of Filene's Basement in Filene's Chapter 11 bankruptcy proceedings. Under its asset purchase agreement with Filene's Basement, Syms, through a wholly-owned subsidiary, acquired the vast majority of the current operating Filene's Basement store leases, store fixtures and inventory and is focused on maintaining the Filene's Basement name and tradition. The total consideration to Filene's Basement amounted to approximately $65 million plus certain additional costs of Filene's Basement that were assumed by Syms. Vornado Realty Trust (NYSE: VNO) provided a portion of the funding for this transaction. A joint venture (unrelated to Syms) 50% owned by Vornado paid approximately $16.8 million to terminate the venture's existing Downtown Crossing lease with Filene's Basement in Boston. Further, Vornado funded approximately $8.2 million in connection with Syms agreeing to amend Vornado's lease assumed by Syms at 4 Union Square South in Manhattan to provide, among other things, for a minimum $1.5 million increase in annual rent. The lease between Vornado and Filene's Basement at Vornado's Bergen Town Center in Paramus, New Jersey was also assumed by Syms. Marcy Syms, President and Chief Executive Officer of Syms Corp, stated: "This is an excellent strategic opportunity for Syms. Syms has been in business for 50 years, and Filene's Basement for 100 years. Our businesses are highly complementary. We have long respected Filene's Basement as a worthy competitor and have the utmost respect for the institution and its traditions, brand and incredible customer loyalty. We are confident that leveraging Filene's assets with Syms' infrastructure will provide for a stable and profitable business and will position Filene's for renewed growth. This is a win for Educated Consumers, a win for Syms, a win for the vast majority of Filene's employees who will be offered employment by a Syms subsidiary, and a win for the economy. We are pleased to welcome a wonderful management team and loyal employee base into the Syms family". Filene's Basement filed for Chapter 11 bankruptcy protection on May 4, 2009. The sale of Filene's assets was effected pursuant to Section 363 of the Bankruptcy Code. Stifel, Nicolaus & Company, Incorporated served as investment banker to Syms and Lowenstein Sandler PC served as counsel to Syms in connection with the transaction. Fried, Frank, Harris, Shriver & Jacobson LLP served as counsel to Vornado in connection with this transaction. In addition to the stores previously operated by Filene's Basement, Syms Corp currently operates a chain of thirty-two "off-price" apparel stores located throughout the Northeastern and Middle Atlantic regions and in the Midwest, Southeast and Southwest. Each Syms store offers a broad range of first quality, in-season merchandise bearing nationally recognized designer and brand-name labels. Forward-Looking Statements Certain information in this press release includes forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) and information relating to Syms Corp and its subsidiaries that are based on the beliefs of Syms' management, as well as assumptions made by and information currently available to Syms' management. When used in this press release, the words "anticipate", "believe", "estimate", "expect", "intend", "plan" and similar expressions as they relate to Syms Corp and its subsidiaries, identify forward-looking statements. Such statements reflect the current views of Syms Corp with respect to future events, the outcome of which is subject to certain risks, including, among others, general economic and market conditions, decreased consumer demand for Syms' and Filene's Basement's products, possible disruptions in Syms' computer or telephone systems, possible work stoppages or increase in labor costs, effects of competition, the impact of integrating Filene's Basement's business and Syms Corp's existing business, possible disruptions or delays in the opening of new stores or inability to obtain suitable sites for new stores, higher than anticipated store closings or relocation costs, higher interest rates and borrowing costs, unanticipated increases in merchandise or occupancy costs, and other factors which may be outside control of Syms Corp. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those described herein as anticipated, believed, estimated, expected, intended or planned. Subsequent written and oral forward-looking statements attributable to Syms Corp or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements in this paragraph.
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1282648-000090933408000021-ram8kex991-22008
EX-99.1 2 ram8kex991-22008.htm For Immediate Release For Further Information Contact: Wednesday, February 20, 2008 Robert E. Phaneuf Vice President - Corporate Development (918) 632-0680 RAM ENERGY RESOURCES RETIRES SENIOR NOTES Tulsa, Oklahoma - RAM Energy Resources, Inc. (Nasdaq: RAME) announced today that on February 15, 2008, the Company retired all of the remaining outstanding 11.5% Senior Notes of its wholly owned subsidiary, RAM Energy, Inc. by payment of the aggregate principal balance of $28.4 million plus accrued interest. The publicly-held notes were part of a $115 million issue by RAM Energy, Inc., in February 1998. In conjunction with its acquisition of Ascent Energy Inc, RAM's lenders increased the company's senior secured credit facility to $500 million from the previous $375 million. At year-end 2007, RAM had outstanding borrowings under its increased credit facility of $306 million, and $28.4 million outstanding under its 11.5% Senior Notes. RAM utilized availability under its credit facility to retire the senior notes. The recent reduction in LIBOR rates positively impacts the company's LIBOR-based borrowings under its senior secured credit facility. Assuming the continued availability of current rates as a basis for calculating interest charges on the amount currently outstanding under RAM's credit facility, including the recent advance to retire the 11.5% Senior Notes, RAM anticipates an interest savings of more than $800,000 per month during the remainder of 2008 as compared with interest charges that would have accrued on the same principal amount under rates in effect at the close of the Ascent Energy acquisition in November 2007. Forward-Looking Statements This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts that address estimates of borrowing availability, estimated and anticipated interest cost savings based on lower LIBOR rates and events or developments that the company expects or believes are forward-looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include oil and gas prices, exploitation and exploration successes, actions taken and to be taken by the government as a result of political and economic conditions, continued availability of capital and financing, and general economic, market or business conditions as well as other risk factors described from time to time in the company's filings with the SEC. The company assumes no obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. RAM Energy Resources, Inc. is an independent energy company engaged in the acquisition, exploitation, exploration, and development of oil and gas properties and the marketing of crude oil and natural gas. Company headquarters are in Tulsa, Oklahoma, and its common shares are traded on the Nasdaq under the symbol RAME. For additional information, visit the company website at www.ramenergy.com.
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71557-000089710108000045-newulm080068_ex99-2
EX-99.2 18 newulm080068_ex99-2.htm PRESS RELEASE DATED JANUARY 4, 2008 NEW ULM TELECOM, INC. EXHIBIT 99.2 TO FORM 8-K DATED DECEMBER 31, 2007 Exhibit 99.2 FOR RELEASE: Immediate FROM: New Ulm Telecom, Inc. 27 North Minnesota New Ulm, Minnesota 56073 Phone 507-354-4111 New Ulm Telecom, Inc. Contact: Bill Otis, President and CEO 507-354-4111 E-mail: billotis@nu-telcom.net New Ulm Telecom, Inc. Completes Acquisition of Hutchinson Telephone Company January 4, 2008 New Ulm Telecom, Inc. ("New Ulm") announced today that it has completed its acquisition of Hutchinson Telephone Company ("HTC") for approximately $78 million. HTC will continue to operate as a subsidiary of New Ulm. The acquisition has resulted in a combined company that provides phone, video and internet services with over 50,000 connections in a number of Minnesota and Iowa communities. New Ulm funded the purchase from its cash resources and borrowings from Co-Bank, ACB. "New Ulm is excited about the acquisition of Hutchinson Telephone Company into a new combined company", said Bill Otis, President and CEO of New Ulm. "New Ulm and HTC are both well-established companies with 100-year histories in South Central Minnesota. Each company also has a strong commitment to its community. We believe the strategic combination of these two companies will enable us to take advantage of developing industry technologies and continue our commitment to provide excellent customer service in our communities". The new combined Company owns and operates incumbent local exchange carriers (ILECs) and a competitive local exchange carrier (CLEC) that provide, own and operate phone, video and internet services in a number of Minnesota and Iowa communities. The Company also sells and services cellular phones and accessories, customer premise equipment and provides transport operations. New Ulm also holds a 25.18% investment in FiberComm, LC, a CLEC based in Sioux City, Iowa, and holds a 33.33% ownership interest in Hector Communications Corporation, which provides phone, video and internet services to a number of communities in Minnesota and Wisconsin. Further, the Company has equity interests in several joint ventures that provide communications services to communities in Minnesota. Advisors Williams & Company Communications, Inc. acted as special financial advisor and Lindquist & Vennum, P.L.L.P. acted as legal counsel to New Ulm in connection with the transaction. Stifel, Nicolaus & Company, Incorporated acted as financial advisor and Leonard, Street and Deinard, Professional Association acted as legal counsel to HTC in the transaction. Forward-Looking Statements Statements about New Ulm's future prospects are forward-looking and, therefore, involve certain risks and uncertainties. These and other risk factors are discussed in New Ulm's Report on Form 10-K for the year ended December 31, 2006 and from time to time in its other filings with the Securities and Exchange Commission. In addition to these factors, forward-looking statements in this press release are subject to the ability of New Ulm to operate the combined company in a profitable manner after the merger.
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1074436-000114420406021762-v043846_ex99-1
EX-99.1 8 v043846_ex99-1.htm a21 Acquires ArtSelect - Leading Infrastructure Provider for Wall Decor and Fine Art Tuesday May 16, 9:43 am ET Acquisition Will Increase Revenue by Approximately 100% JACKSONVILLE, Fla. - (BUSINESS WIRE) - May 16, 2006 - a21, Inc. ("a21") (OTCBB: ATWO - News), a leading online digital content marketplace for creative professionals, today announced it has acquired ArtSelect, Inc. ("ArtSelect"), an Iowa based provider of online technology and fulfillment infrastructure for retailers in the custom framed Art and Wall Decor market. a21 paid $4.5 million in cash, $2.35 million in three year 6% interest only notes, $3.15 million in a21 Series A Convertible Preferred shares (with a conversion floor of $0.75 per a21 common share), and a four year warrant to purchase 750,000 a21 common shares at $1.00 per share. ArtSelect earned revenue of approximately $12 million in 2005. ArtSelect (www.artselect.com), founded in 1998, provides private label online technology and fulfillment infrastructure to catalogers, retailers and distributors to allow them to offer custom framed art to their end-customers through its unique online custom frame shop. With its proprietary technology platform and current collection of over 30,000 image selections, ArtSelect provides its retail partners with an efficient and effective web-based retail solution for their end-customers. ArtSelect addresses the highly fragmented $35 billion Art and Wall Decor market in which over 50% of households purchased products last year. Its operations and approximately 65 employees are based in Fairfield, Iowa, and its products are sold primarily through catalogers, retailers and distributors for which it sets up turn-key private label customized websites. "We believe ArtSelect has built a unique business model which is not currently available in the Art and Wall Decor market. We plan to leverage their model with our ever increasing base of over one million images from our SuperStock and Ingram subsidiaries, and especially those selections from our Fine Art and Vintage collections", said Thomas V. Butta, a21 Vice-Chairman and President. "In addition, we believe ArtSelect's outstanding management team will work well with our team at a21 to enhance our ability to capitalize on this expanding market". Jerry Oliver, Vice President and General Manager of ArtSelect, added, "We are truly excited about the deal with a21. Their extensive content archive and experienced management team should provide immediate benefit to ArtSelect. We believe that ArtSelect's core infrastructure strengths and extensive client base will create strong cross-selling opportunities for a21's images. In addition, a21 has a solid board and investor group, which we think provide an excellent platform for support and future growth". About a21 a21 (www.a21group.com) is a leading online digital content marketplace for the professional creative community. Through SuperStock (www.superstock.com; www.superstock.co.uk and www.purestockx.com), Ingram Publishing (www.ingrampublishing.com), and ArtSelect (www.artselect.com) a21 delivers high quality images and exceptional customer service. a21 and its companies, with offices in New York, Florida, Iowa, and the United Kingdom, provide a valuable and viable choice to photographers, artists, photography agencies and other customers in the stock image, art and wall decor industries. The statements contained in this press release contain certain forward-looking statements, including statements regarding a21, Inc.'s expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to a21, Inc.'s management as of the date hereof and actual results may vary based upon future events, both within and without the control of a21, Inc.'s management. Contact: Investor Relations: CEOcast Dennis Early, 212-732-4300 dearly@ceocast.com 2
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million", "in", "cash", ",", "$", "2.35 million", "in", "three", "year", "6", "%", "interest", "only", "notes", ",", "$", "3.15 million", "in", "a21", "Series", "A", "Convertible", "Preferred", "shares", "(", "with", "a", "conversion", "floor", "of", "$", "0.75", "per", "a21", "common", "share", ")", ",", "and", "a", "four", "year", "warrant", "to", "purchase", "750,000", "a21", "common", "shares", "at", "$", "1.00", "per", "share", ".", "ArtSelect", "earned", "revenue", "of", "approximately", "$", "12 million", "in", "2005", ".", "ArtSelect", "(", "www.artselect.com", ")", ",", "founded", "in", "1998", ",", "provides", "private", "label", "online", "technology", "and", "fulfillment", "infrastructure", "to", "catalogers", ",", "retailers", "and", "distributors", "to", "allow", "them", "to", "offer", "custom", "framed", "art", "to", "their", "end", "-", "customers", "through", "its", "unique", "online", "custom", "frame", "shop", ".", "With", "its", "proprietary", "technology", "platform", "and", "current", "collection", "of", "over", "30,000", "image", "selections", ",", "ArtSelect", "provides", "its", "retail", "partners", "with", "an", "efficient", "and", "effective", "web", "-", "based", "retail", "solution", "for", "their", "end", "-", "customers", ".", "ArtSelect", "addresses", "the", "highly", "fragmented", "$", "35 billion", "Art", "and", "Wall", "Decor", "market", "in", "which", "over", "50", "%", "of", "households", "purchased", "products", "last", "year", ".", "Its", "operations", "and", "approximately", "65", "employees", "are", "based", "in", "Fairfield", ",", "Iowa", ",", "and", "its", "products", "are", "sold", "primarily", "through", "catalogers", ",", "retailers", "and", "distributors", "for", "which", "it", "sets", "up", "turn", "-", "key", "private", "label", "customized", "websites", ".", "\"", "We", "believe", "ArtSelect", "has", "built", "a", "unique", "business", "model", "which", "is", "not", "currently", "available", "in", "the", "Art", "and", "Wall", "Decor", "market", ".", "We", "plan", "to", "leverage", "their", "model", "with", "our", "ever", "increasing", "base", "of", "over", "one", "million", "images", "from", "our", "SuperStock", "and", "Ingram", "subsidiaries", ",", "and", "especially", "those", "selections", "from", "our", "Fine", "Art", "and", "Vintage", "collections", "\"", ",", "said", "Thomas", "V", ".", "Butta", ",", "a21", "Vice", "-", "Chairman", "and", "President", ".", "\"", "In", "addition", ",", "we", "believe", "ArtSelect", "'s", "outstanding", "management", "team", "will", "work", "well", "with", "our", "team", "at", "a21", "to", "enhance", "our", "ability", "to", "capitalize", "on", "this", "expanding", "market", "\"", ".", "Jerry", "Oliver", ",", "Vice", "President", "and", "General", "Manager", "of", "ArtSelect", ",", "added", ",", "\"", "We", "are", "truly", "excited", "about", "the", "deal", "with", "a21", ".", "Their", "extensive", "content", "archive", "and", "experienced", "management", "team", "should", "provide", "immediate", "benefit", "to", "ArtSelect", ".", "We", "believe", "that", "ArtSelect", "'s", "core", "infrastructure", "strengths", "and", "extensive", "client", "base", "will", "create", "strong", "cross", "-", "selling", "opportunities", "for", "a21", "'s", "images", ".", "In", "addition", ",", "a21", "has", "a", "solid", "board", "and", "investor", "group", ",", "which", "we", "think", "provide", "an", "excellent", "platform", "for", "support", "and", "future", "growth", "\"", ".", "About", "a21", "a21", "(", "www.a21group.com", ")", "is", "a", "leading", "online", "digital", "content", "marketplace", "for", "the", "professional", "creative", "community", ".", "Through", "SuperStock", "(", "www.superstock.com", ";", "www.superstock.co.uk", "and", "www.purestockx.com", ")", ",", "Ingram", "Publishing", "(", "www.ingrampublishing.com", ")", ",", "and", "ArtSelect", "(", "www.artselect.com", ")", "a21", "delivers", "high", "quality", "images", "and", "exceptional", "customer", "service", ".", "a21", "and", "its", "companies", ",", "with", "offices", "in", "New", "York", ",", "Florida", ",", "Iowa", ",", "and", "the", "United", "Kingdom", ",", "provide", "a", "valuable", "and", "viable", "choice", "to", "photographers", ",", "artists", ",", "photography", "agencies", "and", "other", "customers", "in", "the", "stock", "image", ",", "art", "and", "wall", "decor", "industries", ".", "The", "statements", "contained", "in", "this", "press", "release", "contain", "certain", "forward", "-", "looking", "statements", ",", "including", "statements", "regarding", "a21", ",", "Inc", ".", "'s", "expectations", ",", "intentions", ",", "strategies", "and", "beliefs", "regarding", "the", "future", ".", "All", "statements", "contained", "herein", "are", "based", "upon", "information", "available", "to", "a21", ",", "Inc", ".", "'s", "management", "as", "of", "the", "date", "hereof", "and", "actual", "results", "may", "vary", "based", "upon", 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1005229-000100522905000010-abinpr
EX-99 2 abinpr.txt PRESS RELEASE NEWS RELEASE CONTACT: Robert R. Friedl Vice President - Finance and Chief Financial Officer Columbus McKinnon Corporation 716-689-5479 COLUMBUS MCKINNON ANNOUNCES SALE OF VIRGINIA PROPERTY AMHERST, N.Y., March 31, 2005 -- Columbus McKinnon Corporation (Nasdaq: CMCO), a leading designer and manufacturer of material handling products, today announced it completed the sale of a 6.6 acre property that included a 112,000 square foot manufacturing and warehouse facility in Abingdon, Virginia for $0.6 million in cash. The favorable effect to net income in the fourth quarter of fiscal 2005 which ends March 31, 2005 is expected to be $0.2 million, or approximately $0.01 per diluted share. The building was available for sale as a result of Columbus McKinnon's facility rationalization and lean manufacturing initiatives. It had previously been used as a manufacturing and warehouse site for Columbus McKinnon's Virginia Hoist operations, which were consolidated in 2004 into its existing plant in nearby Damascus, Virginia. Also, during the fiscal 2005 fourth quarter, the Company completed the sale of two other properties and these sales were previously announced. The total favorable net income effect in the fourth quarter of fiscal 2005 as a result of the gains made on the three property sales during the quarter is expected to be $3.9 million, or $0.26 per share. Total cash proceeds received from the sale of the three properties were $6.9 million. The Company is focused on de-levering its balance sheet and intends to use these proceeds to reduce debt. ABOUT COLUMBUS MCKINNON ----------------------- Columbus McKinnon is a leading worldwide designer and manufacturer of material handling products, systems and services, which efficiently and ergonomically move, lift, position or secure material. Key products include hoists, cranes, chain and forged attachments. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how. Comprehensive information on Columbus McKinnon is available on its web site at HTTP://WWW.CMWORKS.COM. SAFE HARBOR STATEMENT This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning future revenue and earnings, and involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including changes in accounting regulations and other factors disclosed in the Company's periodic reports filed with the Securities and Exchange Commission. The Company assumes no obligation to update the forward-looking information contained in this release. ###
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1282648-000110465917056589-a17-21554_1ex99d1
EX-99.1 3 a17-21554_1ex99d1.htm EX-99.1 Exhibit 99.1 Halcón Resources Announces Closing of Operated Williston Basin Assets Sale for $1.4 Billion, Launch of Tender Offer for Up to 50% of its 6.75% Senior Notes due 2025 and Other Items HOUSTON, TEXAS - September 7, 2017 - Halcón Resources Corporation (NYSE:HK) ("Halcón" or the "Company") announced today it closed the sale of its operated Williston Basin assets for $1.4 billion in cash, subject to certain customary closing adjustments. The effective date of the divestiture is June 1, 2017. The Company today also launched a tender offer to purchase for cash up to $425 million principal amount of the outstanding $850 million principal amount of its unsecured 6.75% Senior Notes due 2025 (the "6.75% Notes") at 103% of par plus accrued interest. The tender offer will expire at 5:00 p.m., New York City time, on October 6, 2017, unless extended or earlier terminated. The tender offer for the Notes (the "Offer") is being made pursuant to certain provisions of the indenture governing the 6.75% Notes, as supplemented. The purchase of validly tendered 6.75% Notes will be prorated in accordance with the indenture and the procedures of DTC if the offer is oversubscribed. This press release does not constitute an offer to purchase securities or a solicitation of an offer to purchase any securities, nor does it constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is unlawful. Halcón has also issued an irrevocable notice to redeem on October 7, 2017 all of its outstanding 12.0% Second Lien Notes due 2022 (the "12.0% Notes") in accordance with the terms of the indenture governing such notes. The Company has also irrevocably deposited with U.S. Bank National Association an amount of funds sufficient to fund the redemption, thereby satisfying and discharging the Company's obligations under the 12.0% Notes. The Notice of Redemption is being sent to all registered holders of 12.0% Notes on September 7, 2017. On or before October 7, 2017, the 12.0% Notes should be presented to U.S. Bank National Association at the address set forth in the Notice of Redemption for the 12.0% Notes. This press release is for informational purposes only and shall not constitute a notice of redemption of the 12.0% Notes or an offer to purchase, or a solicitation of an offer to sell, any 12.0% Notes or other securities. 1 Finally, the Company entered into an Amended and Restated Senior Secured Revolving Credit Agreement today with a $140 million borrowing base. As of June 30, 2017, Halcón's liquidity was approximately $700 million pro forma for the Williston Basin asset sale, the closing of various non-core asset sales, the redemption of all of the Company's 12.0% Notes outstanding, the assumed tender of 50% of its 6.75% Notes outstanding for purchase and the assumed exercise of the Company's option on the northern portion of its Monument Draw acreage. This liquidity is based on $567 million of pro forma cash on hand (after pay down of all revolving credit facility borrowings) plus available borrowings under the undrawn senior secured revolving credit facility. The next borrowing base redetermination is scheduled for the spring of 2018. About Halcón Resources Halcón Resources Corporation is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States. For more information contact Quentin Hicks, Senior Vice President of Finance & Investor Relations, at 832-538-0557 or qhicks@halconresources.com. Forward-Looking Statements This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as "expects", "believes", "intends", "anticipates", "plans", "estimates", "potential", "possible", or "probable" or statements that certain actions, events or results "may", "will", "should", or "could" be taken, occur or be achieved. Forward-looking statements are based on current beliefs and expectations and involve certain assumptions or estimates that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to, those set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2016 and other filings submitted by the Company to the U.S. Securities and Exchange Commission (SEC), copies of which may be obtained from the SEC's website at www.sec.gov or through the Company's website at www.halconresources.com. Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. The Company has no duty, and assumes no obligation, to update forward-looking statements as a result of new information, future events or changes in the Company's expectations. 2
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"sell", ",", "any", "12", ".", "0", "%", "Notes", "or", "other", "securities", ".", "1", "Finally", ",", "the", "Company", "entered", "into", "an", "Amended", "and", "Restated", "Senior", "Secured", "Revolving", "Credit", "Agreement", "today", "with", "a", "$", "140 million", "borrowing", "base", ".", "As", "of", "June", "30", ",", "2017", ",", "Halcón", "'s", "liquidity", "was", "approximately", "$", "700 million", "pro", "forma", "for", "the", "Williston", "Basin", "asset", "sale", ",", "the", "closing", "of", "various", "non", "-", "core", "asset", "sales", ",", "the", "redemption", "of", "all", "of", "the", "Company", "'s", "12", ".", "0", "%", "Notes", "outstanding", ",", "the", "assumed", "tender", "of", "50", "%", "of", "its", "6", ".", "75", "%", "Notes", "outstanding", "for", "purchase", "and", "the", "assumed", "exercise", "of", "the", "Company", "'s", "option", "on", "the", "northern", "portion", "of", "its", "Monument", "Draw", "acreage", ".", "This", "liquidity", "is", 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1071411-000165495418005059-pressrelease-privateplace
EX-99.3 31 pressrelease-privateplace.htm PRESS RELEASE DATED MAY 8, 2018 OF FUSION CONNECT, INC. ANNOUNCING THE PRIVATE PLACEMENT OF $8 MILLION OF COMMON STOCK. Blueprint ------------------------------------------------------------------------------------------------------------------------ Fusion Completes Private Placement of Common Stock Led by Morgan Stanley Credit Partners Equity Investment Demonstrates Strong Support of Fusion's Differentiated Strategy NEW YORK, NY -- May 8, 2018 -- Fusion (NASDAQ: FSNN), a leading provider of cloud services, announced today that on May 4, 2018, it closed a private placement (the "Private Placement") of 1,523,811 shares of its common stock. The shares were priced at $5.25 per share for gross proceeds of $8.0 million. Proceeds from the Private Placement will be used by Fusion for general corporate purposes. Investment funds managed by Morgan Stanley Credit Partners, an investment team of Morgan Stanley Investment Management, which participated in Fusion's recently completed Senior Secured Term Loan Facilities (the "Facilities"), led the Private Placement with an investment of $5.0 million of Fusion common stock. The remaining $3.0 million of Fusion common stock in the Private Placement was sold to other lenders to Fusion under the Facilities. The stock is subject to a 180 day lock-up after the closing date of the transaction. "I am very pleased that this group of financial institutions, led by Morgan Stanley Credit Partners, recognizes Fusion's highly differentiated strategy and our clear value proposition," said Matthew Rosen, Fusion's Chairman and CEO. "Their support of the company's continued growth through their equity and debt investments is a strong vote of confidence in our vision to create the leading cloud services provider in the market." "Our investment in Fusion reflects our confidence in Fusion's value proposition in executing its strategy as the single source for the cloud", said Hank D'Alessandro, Head of Morgan Stanley Credit Partners. "We are delighted to be working with Matt and the management team". The offering described herein was made pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the "Securities Act"), solely to accredited investors. Under the terms of the Private Placement Fusion has agreed to use commercially reasonable efforts to file and have declared effective by the Securities and Exchange Commission a registration statement on Form S-3 for purposes of registering the resale of the common stock within 120 days of May 4, 2018. About Fusion Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud communications, contact center, cloud connectivity and cloud computing. Fusion's innovative, yet proven cloud solutions lower our customers' cost of ownership, and deliver new levels of security, flexibility, scalability and speed of deployment. For more information, please visit www.fusionconnect.com . About Morgan Stanley Credit Partners Morgan Stanley Credit Partners, part of Morgan Stanley Investment Management, invests in corporate debt securities issued by middle market companies. Morgan Stanley Credit Partners' investment team, based in New York, focuses on deploying capital in North America and Western Europe. For further information about Morgan Stanley Credit Partners, please visit www.morganstanley.com/creditpartners . Fusion Contact Brian Coyne (212) 201-2404 bcoyne@fusionconnect.com Investor Relations Chris Tyson MZ North America (949)491-8235 FSNN@mzgroup.us
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1066961-000114420406035553-v051004_ex99-1
EX-99.1 49 v051004_ex99-1.htm Unassociated Document Exhibit 99.1 INFOSMART COMPLETES $7.65 MILLION EQUITY FINANCING AND MERGES INTO PUBLIC SHELL Ø Capital Infusion Positions World's 10 th Largest DVD Manufacturer to Become Largest DVDR Manufacturer in Brazil HONG KONG - August 24, 2006 - Infosmart Group Limited ("Infosmart"), a Hong Kong-based recordable digital versatile disk (or DVDR) manufacturing company, announced today that on August 16, 2006 it completed a reverse merger with Cyber Merchants Exchange, Inc. ("Cyber Merchants") (OTC BB: CMXG), a publicly traded shell company. Contemporaneous with the closing of the reverse merger, Cyber Merchants completed a private placement to certain institutional investors and other high net worth individuals for gross proceeds of $7.65 million. Keating Securities, LLC ("Keating Securities") and Axiom Capital Management, Inc. acted as co-placement agents to Infosmart in the private placement; Keating Securities acted as sole financial advisor to Cyber Merchants in the reverse merger. At the closing of the reverse merger, Cyber Merchants issued to Infosmart's stockholders 1,000,000 shares of Cyber Merchants' Series A Convertible Preferred Stock in exchange for all of Infosmart's outstanding common stock. Each share of Cyber Merchant's Series A Convertible Preferred Stock will be convertible into approximately 116.72 shares of Cyber Merchants' common stock. The Series A Convertible Preferred Stock does not pay a dividend unless the Company pays cash dividends or dividends in other property to holders of the outstanding shares of Cyber's common stock in which event, each outstanding share of the Series A Convertible Preferred Stock will be entitled to receive dividends of cash or property in an amount or value equal to the conversion rate (initially set at 116.721360 but subject to adjustment) multiplied by the amount paid in respect of one share of common stock. Upon Cyber Merchants' filing of an amendment to its Articles of Incorporation to increase the authorized number of shares of common stock from 40,000,000 to 300,000,000, all of the outstanding Series A Convertible Preferred Stock will immediately and automatically convert into a total of 116,721,360 shares of Cyber Merchants common stock. As part of the private placement, Cyber Merchants also issued a total of 1,092,857.1429 shares of Cyber Merchants' Series B Convertible Preferred Stock with a stated value of $7.00 per share and warrants to purchase 100% of the amount of shares of common stock into which the Series B Preferred Stock may be converted. The Series B Preferred Stock pays an 8% annual dividend and is convertible into shares of Cyber Merchants' common stock at the election of holders at a conversion price equal to $0.261 per share, subject to standard conversion price adjustments. In total, the Series B Preferred Stock is convertible into 29,310,345 shares of Cyber Merchants common stock. The attached warrants are exercisable into an additional 29,310,345 shares of Cyber Merchants common stock. Assuming the full conversion of the Series A and Series B Preferred Stock, the as converted basic number of shares of common stock outstanding is 159,000,745. On a fully diluted and as converted basis, Cyber Merchants has 191,242,125 shares of common stock outstanding. "We are extremely pleased with this transaction, as it allows us to extend our reach in Brazil - one of the world's largest developing economies. With this infusion of additional capital, we believe that Infosmart is positioned to become the largest DVDR manufacturer in Brazil in 2007 and will be able to capture a large share of this lucrative market before other competitors enter", stated Infosmart CEO Andy Kwok. Mr. Kwok further stated that "Keating Investments' turnkey going public program has provided Infosmart with the capital to accomplish our objectives in Brazil, and their market-making and after market support services will result over time in an actively traded and fully valued stock, benefiting all Infosmart stockholders". About Infosmart Group Limited Infosmart Group Limited , a fast-growing and profitable writable DVD (DVDR) manufacturer, operates a state of the art DVDR production facility in Hong Kong and is preparing to manufacture new writable High Density (HD-DVDR) media. In addition, Infosmart will soon become the largest manufacturer of DVDR discs in Brazil. Disc media will be the storage media of choice for years to come, whether as HD-DVDR for mature markets or traditional DVDR for developing markets. No other storage media available rivals its combination of high capacity, low cost and exceptional portability. About the Keating Companies Founded in 1997, Keating Investments, LLC (www.keatinginvestments.com) is the parent company of Keating Securities, LLC, a Denver-based broker-dealer and NASD member that provides a turnkey solution to private companies going public via reverse merger. After Market Support, LLC is a wholly-owned subsidiary of Keating Investments, LLC that provides investor relations services to public companies that have gone public via reverse merger or other alternatives to an IPO. CONTACT: After Market Support, LLC Justin Davis Phone: (720) 489-4913 jd@keatingAMS.com FORWARD-LOOKING STATEMENTS The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward looking statements if they comply with the requirements of the Act. # # #
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29834-000129993309003266-exhibit1
EX-99.1 2 exhibit1.htm EX-99.1 EX-99.1 Double Eagle Petroleum Co. 1675 Broadway, Suite 2200 Denver, Colorado, 80202. 1-303-794-8445. Fax: 1-303-794-8451 Colorado- FOR IMMEDIATE RELEASE Date: August 6, 2009 Double Eagle Petroleum Co. and Petrosearch Energy Corporation Announce Closing of Merger Denver Colorado - Double Eagle Petroleum Co. (NASDAQ: DBLE) and Petrosearch Energy Corporation (OTCBB: PTSG) are pleased to announce that the merger, whereby Petrosearch Energy Corporation became a wholly-owned subsidiary of Double Eagle Petroleum Co, was successfully completed effective August 6, 2009. With the closing of the transaction, Petrosearch stockholders automatically became entitled to receive 0.0433 shares of Double Eagle common stock and cash consideration of $0.0211 for each share of Petrosearch common stock or Petrosearch preferred stock, on an as-converted basis, that they own. As a result of the merger, Double Eagle received approximately $8.5 million of working capital and an early stage water-flood project in the Texas Panhandle. About Double Eagle Double Eagle Petroleum Co. explores for, develops, and sells natural gas and crude oil, with natural gas constituting more than 95% of its production and reserves. The Company's current major development activities are in its Atlantic Rim coal bed methane play and in the Pinedale Anticline in Wyoming. About Petrosearch Energy Corporation Petrosearch Energy Corporation, a Nevada corporation with executive offices in Houston, Texas, is a resource based energy company with operations focused in the Anadarko basin of the North Texas Panhandle. For more information please visit www.petrosearch.com. Forward-Looking Statements and Additional Information Opinions, forecasts, projections or statements other than statements of historical fact are forward-looking statements that involve risks and uncertainties. Forward-looking statements in this announcement are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although each of Double Eagle and Petrosearch believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Actual results may differ materially due to a variety of factors, including without limitation: the uncertainty involved in exploring for and developing new natural gas reserves, the sale prices of natural gas and oil, labor and raw material costs, the availability of sufficient capital resources to carry out each company's anticipated level of new well development and construction of related pipelines, environmental issues, weather conditions, competition, general market conditions, and other risks detailed in Double Eagle's and Petrosearch's filings with the Securities and Exchange Commission (SEC). You can find Double Eagle's filings with the SEC at www.dble.us or at www.sec.gov and Petrosearch's filings with the SEC at www.petrosearch.com or at www.sec.gov. Double Eagle undertakes no obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise. Company Contact: John Campbell, IR (303) 794-8445 http://www.dble.us
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1558441-000110465920002272-a20-1516_1ex99d1
EX-99.1 2 a20-1516_1ex99d1.htm EX-99.1 Exhibit 99.1 Contact: Briana Ochiltree briana.ochiltree@blackcreekgroup.com Black Creek Group 720-728-3109 FOR IMMEDIATE RELEASE: Black Creek Group's Investment Fund, Industrial Property Trust, Completes Approximately $4 Billion Real Estate Asset Sale to Prologis DENVER, January 8 - Black Creek Group, a Denver-based real estate investment manager and development firm with a more than 25-year history, today announced its sponsored investment fund, Industrial Property Trust Inc. (IPT), has closed on the sale of its wholly-owned real estate portfolio to affiliates of Prologis, Inc. (NYSE: PLD) in a deal valued at approximately $4 billion. "Black Creek has a long history of creating value through our investment solutions and the completion of this transaction is a testament to both our strategy and the strength of the industrial sector", said Raj Dhanda, chief executive officer, Black Creek Group. "We are pleased to deliver on our commitment of building high-quality portfolios that provide investors with healthy shareholder returns and we remain dedicated to the industrial sector as we continue to acquire and develop industrial assets for our other portfolios. Our goal is to continue to deliver strong investment results for investors in our portfolios in the future". The transaction consisted of: · 236 properties located across 24 geographic areas · 37.5 million square feet of industrial holdings that are currently 96% leased Black Creek currently offers investment solutions that span all major property types and strategies, which include core, value-add and opportunistic. The completion of this transaction marks the seventh platform that Black Creek has taken full cycle through either a liquidity event or an IPO on the New York Stock Exchange. Morgan Stanley & Co. LLC and Eastdil Secured, L.L.C. acted as financial advisors to IPT. CBRE, Inc. acted as real estate advisor to IPT. Hogan Lovells acted as legal advisor to IPT. About Black Creek Group Black Creek Group is an experienced real estate investment management and development firm that has bought or built more than $20 billion of investments over its more than 25-year history. The firm manages diverse investment offerings across the spectrum of commercial real estate - including office, industrial, retail and multifamily - providing a range of investment solutions for both institutional and wealth management channels. Black Creek Group has nine offices across North America with more than 300 professionals. More information is available at blackcreekgroup.com. ###
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29669-000119312522053784-d219453dex991
EX-99.1 4 d219453dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Chatham Asset Management Completes Acquisition of RRD Thomas J. Quinlan Appointed President and Chief Executive Officer Chicago, February 25, 2022 - Chatham Asset Management, LLC ("Chatham"), a leading private investment firm, and R. R. Donnelley & Sons Company ("RRD" or the "Company") today announced that they have completed a transaction in which affiliates of Chatham have acquired RRD for $10.85 per share in cash. The acquisition was previously announced on December 14, 2021, and RRD stockholders approved the transaction at the Special Meeting of Stockholders held on February 23, 2022. With the completion of the transaction, RRD expects its common stock will cease trading on the New York Stock Exchange before market open on February 28, 2022. In connection with the completion of the transaction, Thomas J. Quinlan has assumed the role of President and Chief Executive Officer of RRD. "We are excited about the next chapter in RRD's journey, and I am personally thrilled to be leading the Company once again", said Thomas Quinlan, RRD President and Chief Executive Officer. "Importantly, I am grateful to RRD's employees, whose dedication and hard work have contributed to the Company's success and momentum. Together with Chatham, we expect we will remain the industry leader in marketing and business communications and continue to meet the evolving needs of our clients". Mr. Quinlan is a seasoned executive with significant experience leading and growing business-to-business manufacturing and services companies. He is deeply familiar with RRD and the print and digital marketing and business communications industries, having served as President and Chief Executive Officer of RRD from 2007 to 2016, and Chairman, President and Chief Executive Officer of LSC Communications from 2016 to 2020 following its spin-off from the Company. "We are pleased to finalize our acquisition of RRD and officially embark on our partnership with the Company. We look forward to working with Tom and his talented team and are optimistic about what lies ahead for RRD", said Evan Ratner, Partner and Portfolio Manager at Chatham. About RRD RRD is a leading global provider of multichannel business communications services and marketing solutions. With 25,000 clients and 32,000 employees across 28 countries, RRD offers the industry's most comprehensive offering of solutions designed to help companies-from Main Street to Wall Street-optimize customer engagement and streamline business operations across the complete customer journey. RRD offers a comprehensive portfolio of capabilities, experience and scale that enables organizations around the world to create, manage, deliver, and optimize their marketing and business communications strategies. Contact: Johan Nystedt investor.info@rrd.com 630-322-7111
[ "EX", "-", "99", ".", "1", "4", "d219453dex991", ".", "htm", "EX", "-", "99", ".", "1", "EX", "-", "99", ".", "1", "Exhibit", "99", ".", "1", "Chatham", "Asset", "Management", "Completes", "Acquisition", "of", "RRD", "Thomas", "J", ".", "Quinlan", "Appointed", "President", "and", "Chief", "Executive", "Officer", "Chicago", ",", "February", "25", ",", "2022", "-", "Chatham", "Asset", "Management", ",", "LLC", "(", "\"", "Chatham", "\"", ")", ",", "a", "leading", "private", "investment", "firm", ",", "and", "R", ".", "R", ".", "Donnelley", "&", "Sons", "Company", "(", "\"", "RRD", "\"", "or", "the", "\"", "Company", "\"", ")", "today", "announced", "that", "they", "have", "completed", "a", "transaction", "in", "which", "affiliates", "of", "Chatham", "have", "acquired", "RRD", "for", "$", "10.85", "per", "share", "in", "cash", ".", "The", "acquisition", "was", "previously", "announced", "on", "December", "14", ",", "2021", ",", "and", "RRD", "stockholders", "approved", "the", "transaction", "at", "the", "Special", "Meeting", "of", "Stockholders", "held", "on", "February", "23", ",", "2022", ".", "With", "the", "completion", "of", "the", "transaction", ",", "RRD", "expects", "its", "common", "stock", "will", "cease", "trading", "on", "the", "New", "York", "Stock", "Exchange", "before", "market", "open", "on", "February", "28", ",", "2022", ".", "In", "connection", "with", "the", "completion", "of", "the", "transaction", ",", "Thomas", "J", ".", "Quinlan", "has", "assumed", "the", "role", "of", "President", "and", "Chief", "Executive", "Officer", "of", "RRD", ".", "\"", "We", "are", "excited", "about", "the", "next", "chapter", "in", "RRD", "'s", "journey", ",", "and", "I", "am", "personally", "thrilled", "to", "be", "leading", "the", "Company", "once", "again", "\"", ",", "said", "Thomas", "Quinlan", ",", "RRD", "President", "and", "Chief", "Executive", "Officer", ".", "\"", "Importantly", ",", "I", "am", "grateful", "to", "RRD", "'s", "employees", ",", "whose", "dedication", "and", "hard", "work", "have", "contributed", "to", "the", "Company", "'s", "success", "and", "momentum", ".", "Together", "with", "Chatham", ",", "we", "expect", "we", "will", "remain", "the", "industry", "leader", "in", "marketing", "and", "business", "communications", "and", "continue", "to", "meet", "the", "evolving", "needs", "of", "our", "clients", "\"", ".", "Mr", ".", "Quinlan", "is", "a", "seasoned", "executive", "with", "significant", "experience", "leading", "and", "growing", "business", "-", "to", "-", "business", "manufacturing", "and", "services", "companies", ".", "He", "is", "deeply", "familiar", "with", "RRD", "and", "the", "print", "and", "digital", "marketing", "and", "business", "communications", "industries", ",", "having", "served", "as", "President", "and", "Chief", "Executive", "Officer", "of", "RRD", "from", "2007", "to", "2016", ",", "and", "Chairman", ",", "President", "and", "Chief", "Executive", "Officer", "of", "LSC", "Communications", "from", "2016", "to", "2020", "following", "its", "spin", "-", "off", "from", "the", "Company", ".", "\"", "We", "are", "pleased", "to", "finalize", "our", "acquisition", "of", "RRD", "and", "officially", "embark", "on", "our", "partnership", "with", "the", "Company", ".", "We", "look", "forward", "to", "working", "with", "Tom", "and", "his", "talented", "team", "and", "are", "optimistic", "about", "what", "lies", "ahead", "for", "RRD", "\"", ",", "said", "Evan", "Ratner", ",", "Partner", "and", "Portfolio", "Manager", "at", "Chatham", ".", "About", "RRD", "RRD", "is", "a", "leading", "global", "provider", "of", "multichannel", "business", "communications", "services", "and", "marketing", "solutions", ".", "With", "25,000", "clients", "and", "32,000", "employees", "across", "28", "countries", ",", "RRD", "offers", "the", "industry", "'s", "most", "comprehensive", "offering", "of", "solutions", "designed", "to", "help", "companies", "-", "from", "Main", "Street", "to", "Wall", "Street", "-", "optimize", "customer", "engagement", "and", "streamline", "business", "operations", "across", "the", "complete", "customer", "journey", ".", "RRD", "offers", "a", "comprehensive", "portfolio", "of", "capabilities", ",", "experience", "and", "scale", "that", "enables", "organizations", "around", "the", "world", "to", "create", ",", "manage", ",", "deliver", ",", "and", "optimize", "their", "marketing", "and", "business", "communications", "strategies", ".", "Contact", ":", "Johan", "Nystedt", "investor.info@rrd.com", "630", "-", "322", "-", "7111" ]
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1360604-000129993308001595-exhibit5
EX-99.1 6 exhibit5.htm EX-99.1 EX-99.1 Contact: Julia McCartney, 714.667.8252, ext. 230 julia.mccartney@grubb-ellis.com Grubb & Ellis Healthcare REIT Acquires Liberty Falls Medical Plaza in Liberty Township, Ohio SANTA ANA, Calif. (March 25, 2008) - Grubb & Ellis Healthcare REIT, Inc. today announced the acquisition of Liberty Falls Medical Plaza in the Cincinnati suburb of Liberty Township, Ohio. Newly constructed in 2008, Liberty Falls Medical Plaza is a two-story medical office building consisting of approximately 44,000 square feet of gross leaseable area. The medical office building is 91 percent leased. Financing was primarily provided by LaSalle Bank N.A. and KeyBank N.A. Located at 6770 Cincinnati-Dayton Road, Liberty Falls Medical Plaza is in close proximity to State Route 129 and Interstate 75. Liberty Falls Medical Plaza is adjacent to Cincinnati Children's Liberty Campus, an outpatient pediatric facility of Cincinnati Children's Hospital Medical Center, which is currently under construction on an approximately 65 acre parcel. "Liberty Falls Medical Plaza was specifically built to service nearby medical campuses," explained Danny Prosky, vice president of acquisitions for Grubb & Ellis Healthcare REIT. "Close proximity to a major medical campus is highly desirable for medical office buildings, making this acquisition a valuable addition to the Grubb & Ellis Healthcare Office REIT portfolio". The 230,000-square-foot Liberty Campus is scheduled to open to the public in August 2008. The $83 million facility will be the largest outpatient center among Cincinnati Children's Hospital Medical Center's 15 locations and will include eight outpatient operating rooms, a pediatric emergency department and 12 short-stay observation beds. Liberty Campus will feature a full range of outpatient pediatric subspecialty services and radiological capabilities; therapy services, such as occupational, physical and speech therapy; and testing services, such as laboratory, audiology, EKG, EEG, ECHO and pulmonary function tests. As of March 14, 2008, Grubb & Ellis Healthcare REIT has sold approximately 25.9 million shares of its common stock, excluding the shares issued under its distribution reinvestment plan, for approximately $259 million through its initial public offering. The initial public offering began in the third quarter of 2006. Grubb & Ellis Healthcare REIT offers a monthly distribution of 7.25 percent per annum and has made 23 geographically-diverse acquisitions valued at approximately $462 million. About Grubb & Ellis Grubb & Ellis Company (NYSE: GBE), one of the largest and most respected commercial real estate services companies, is the sponsor of Grubb & Ellis Healthcare REIT, Inc. With more than 130 owned and affiliate offices worldwide, Grubb & Ellis offers property owners, corporate occupants and investors comprehensive integrated real estate solutions, including transaction, management, consulting and investment advisory services supported by proprietary market research and extensive local market expertise. Grubb & Ellis and its subsidiaries are leading sponsors of real estate investment programs that offer individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including tax-deferred 1031 tenant-in-common (TIC) exchanges, public non-traded real estate investment trusts (REITs) and real estate investment funds. As of September 30, 2007, nearly $3 billion in investor equity has been raised for these investment programs. Grubb & Ellis and its subsidiaries currently manage a growing portfolio of more than 214 million square feet of real estate. In 2007, Grubb & Ellis was selected from among 15,000 vendors as Microsoft Corporation's Vendor of the Year. For more information regarding Grubb & Ellis Company, please visit www.grubb-ellis.com . FORWARD-LOOKING LANGUAGE This press release contains certain forward-looking statements with respect to the growing demand for healthcare services and quality healthcare facilities, and the importance that the property adds to the Grubb & Ellis Healthcare REIT portfolio. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management's intentions, beliefs, expectations, plans or predictions of the future, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: uncertainties regarding changes in the healthcare industry; uncertainties relating to changes in general economic and real estate conditions; uncertainties relating to the economy of the Liberty Township and the Greater Cincinnati, Ohio area; the strengths and financial condition of the Liberty Falls Medical Plaza and the Cincinnati Children's Liberty Campus; the uncertainties relating to the implementation of our real estate investment strategy; and other risk factors as outlined in the company's prospectus, as amended from time to time, and as detailed from time to time in our periodic reports, as filed with the Securities and Exchange Commission.
[ "EX", "-", "99", ".", "1", "6", "exhibit5", ".", "htm", "EX", "-", "99", ".", "1", "EX", "-", "99", ".", "1", "Contact", ":", "Julia", "McCartney", ",", "714", ".", "667", ".", "8252", ",", "ext", ".", "230", "julia.mccartney@grubb-ellis.com", "Grubb", "&", "Ellis", "Healthcare", "REIT", "Acquires", "Liberty", "Falls", "Medical", "Plaza", "in", "Liberty", "Township", ",", "Ohio", "SANTA", "ANA", ",", "Calif", ".", "(", "March", "25", ",", "2008", ")", "-", "Grubb", "&", "Ellis", "Healthcare", "REIT", ",", "Inc", ".", "today", "announced", "the", "acquisition", "of", "Liberty", "Falls", "Medical", "Plaza", "in", "the", "Cincinnati", "suburb", "of", "Liberty", "Township", ",", "Ohio", ".", "Newly", "constructed", "in", "2008", ",", "Liberty", "Falls", "Medical", "Plaza", "is", "a", "two", "-", "story", "medical", "office", "building", "consisting", "of", "approximately", "44,000", "square feet", "of", "gross", "leaseable", "area", ".", "The", "medical", "office", "building", "is", "91", "percent", "leased", ".", "Financing", "was", "primarily", "provided", "by", "LaSalle", "Bank", "N", ".", "A", ".", "and", "KeyBank", "N", ".", "A", ".", "Located", "at", "6770", "Cincinnati", "-", "Dayton", "Road", ",", "Liberty", "Falls", "Medical", "Plaza", "is", "in", "close", "proximity", "to", "State", "Route", "129", "and", "Interstate", "75", ".", "Liberty", "Falls", "Medical", "Plaza", "is", "adjacent", "to", "Cincinnati", "Children", "'s", "Liberty", "Campus", ",", "an", "outpatient", "pediatric", "facility", "of", "Cincinnati", "Children", "'", "s", "Hospital", "Medical", "Center", ",", "which", "is", "currently", "under", "construction", "on", "an", "approximately", "65", "acre", "parcel", ".", "\"", "Liberty", "Falls", "Medical", "Plaza", "was", "specifically", "built", "to", "service", "nearby", "medical", "campuses", ",", "\"", "explained", "Danny", "Prosky", ",", "vice", "president", "of", "acquisitions", "for", "Grubb", "&", "Ellis", "Healthcare", "REIT", ".", "\"", "Close", "proximity", "to", "a", "major", "medical", "campus", "is", "highly", "desirable", "for", "medical", "office", "buildings", ",", "making", "this", "acquisition", "a", "valuable", "addition", "to", "the", "Grubb", "&", "Ellis", "Healthcare", "Office", "REIT", "portfolio", "\"", ".", "The", "230,000", "-", "square", "-", "foot", "Liberty", "Campus", "is", "scheduled", "to", "open", "to", "the", "public", "in", "August", "2008", ".", "The", "$", "83 million", "facility", "will", "be", "the", "largest", "outpatient", "center", "among", "Cincinnati", "Children", "'", "s", "Hospital", "Medical", "Center", "'s", "15", "locations", "and", "will", "include", "eight", "outpatient", "operating", "rooms", ",", "a", "pediatric", "emergency", "department", "and", "12", "short", "-", "stay", "observation", "beds", ".", "Liberty", "Campus", "will", "feature", "a", "full", "range", "of", "outpatient", "pediatric", "subspecialty", "services", "and", "radiological", "capabilities", ";", "therapy", "services", ",", "such", "as", "occupational", ",", "physical", "and", "speech", "therapy", ";", "and", "testing", "services", ",", "such", "as", "laboratory", ",", "audiology", ",", "EKG", ",", "EEG", ",", "ECHO", "and", "pulmonary", "function", "tests", ".", "As", "of", "March", "14", ",", "2008", ",", "Grubb", "&", "Ellis", "Healthcare", "REIT", "has", "sold", "approximately", "25", ".", "9", "million", "shares", "of", "its", "common", "stock", ",", "excluding", "the", "shares", "issued", "under", "its", "distribution", "reinvestment", "plan", ",", "for", "approximately", "$", "259 million", "through", "its", "initial", "public", "offering", ".", "The", "initial", "public", "offering", "began", "in", "the", "third", "quarter", "of", "2006", ".", "Grubb", "&", "Ellis", "Healthcare", "REIT", "offers", "a", "monthly", "distribution", "of", "7", ".", "25", "percent", "per", "annum", "and", "has", "made", "23", "geographically", "-", "diverse", "acquisitions", "valued", "at", "approximately", "$", "462 million", ".", "About", "Grubb", "&", "Ellis", "Grubb", "&", "Ellis", "Company", "(", "NYSE", ":", "GBE", ")", ",", "one", "of", "the", "largest", "and", "most", "respected", "commercial", "real", "estate", "services", "companies", ",", "is", "the", "sponsor", "of", "Grubb", "&", "Ellis", "Healthcare", "REIT", ",", "Inc", ".", "With", "more", "than", "130", "owned", "and", "affiliate", "offices", "worldwide", ",", "Grubb", "&", "Ellis", "offers", "property", "owners", ",", "corporate", "occupants", "and", "investors", "comprehensive", "integrated", "real", "estate", "solutions", ",", "including", "transaction", ",", "management", ",", "consulting", "and", "investment", "advisory", "services", "supported", "by", "proprietary", "market", "research", "and", "extensive", "local", "market", "expertise", ".", "Grubb", "&", "Ellis", "and", "its", "subsidiaries", "are", "leading", "sponsors", "of", "real", "estate", "investment", "programs", "that", "offer", "individuals", "and", "institutions", "the", "opportunity", "to", "invest", "in", "a", "broad", "range", "of", "real", "estate", "investment", "vehicles", ",", "including", "tax", "-", "deferred", "1031", "tenant", "-", "in", "-", "common", "(", "TIC", ")", "exchanges", ",", "public", "non", "-", "traded", "real", "estate", "investment", "trusts", "(", "REITs", ")", "and", "real", "estate", "investment", "funds", ".", "As", "of", "September", "30", ",", "2007", ",", "nearly", "$", "3", "billion", "in", "investor", "equity", "has", "been", "raised", "for", "these", "investment", "programs", ".", "Grubb", "&", "Ellis", "and", "its", "subsidiaries", "currently", "manage", "a", "growing", "portfolio", "of", "more", "than", "214 million", "square feet", "of", "real", "estate", ".", "In", "2007", ",", "Grubb", "&", "Ellis", "was", "selected", "from", "among", "15,000", "vendors", "as", "Microsoft", "Corporation", "'s", "Vendor", "of", "the", "Year", ".", "For", "more", "information", 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1180145-000095013709001470-c49687exv99w1
EX-99.1 9 c49687exv99w1.htm EX-99.1 EX-99.1 Exhibit 99.1 CARDIOVASCULAR SYSTEMS AND REPLIDYNE COMPLETE MERGER Cardiovascular Systems, Inc. approved for trading on NASDAQ Global Market ® St. Paul, Minn., Feb. 25, 2009 - Cardiovascular Systems, Inc. (Nasdaq: CSII), a medical device company focused on developing and commercializing interventional treatment systems for vascular disease, announced today that it has successfully closed the transactions contemplated by its previously announced Merger Agreement dated November 3, 2008. The transactions included the merger of Cardiovascular Systems, Inc., a Minnesota corporation (CSI), with a subsidiary of Replidyne, Inc. In connection with the merger, Replidyne changed its name to Cardiovascular Systems, Inc. and its shares have been approved for trading on the NASDAQ Global Market ® under the symbol, "CSII." Shareholders of both companies approved the transactions on February 24, 2009. Through this transaction, an additional $37.0 million in net assets, primarily cash, is available to CSI's business. The company plans to use the proceeds to advance its medical products, including its Diamondback 360°™ Orbital Atherectomy System, and expand its sales and marketing organization. "This is great news for our company and for the many Americans who are afflicted with peripheral arterial disease", said David L. Martin, president and chief executive officer of Cardiovascular Systems, Inc. "Given current market conditions, this merger was our best path for raising capital and to become listed on a major U.S. stock market. With additional resources, we will expand our sales and marketing organization to drive revenue growth, and continue to invest in infrastructure and product development for future market expansion". The company's total common shares outstanding are approximately 13.7 million, after giving effect to the 1-for-10 reverse stock split of Replidyne's stock immediately prior to the merger and assuming the conversion of all of the outstanding shares of CSI upon the terms of the merger. Under terms of the Merger Agreement, the former CSI shareholders are entitled to receive approximately 83 percent of the combined company and Replidyne shareholders are expected to hold approximately 17 percent of the combined company, in each case on a fully diluted basis using the treasury stock method of accounting for options and warrants. As expected, the combined company is headed by CSI's Martin and the CSI executive team. The combined board of directors consists of nine members, including two directors from Replidyne, Edward Brown and Augustine Lawlor. Glen D. Nelson, M.D., is chairman of the board. Other directors are Brent Blackey; John Friedman; Geoffrey Hartzler, M.D.; Roger Howe, Ph.D.; David Martin; and Gary Petrucci. For more information on Cardiovascular Systems, Inc., visit: www.csi360.com. About Cardiovascular Systems, Inc. Cardiovascular Systems, Inc., a medical device company based in St. Paul, Minn., develops and commercializes interventional treatment systems for vascular disease. The company's goal is to provide physicians with the tools they need to help the 8 million to 12 million Americans suffering from peripheral arterial disease (PAD) - blockages in leg arteries - and the potential catastrophic risk of limb amputation. The company's initial product, the Diamondback 360°™ Orbital Atherectomy System, is a minimally invasive catheter system for treating PAD. As of Dec. 31, 2008, more than 14,700 devices had been sold to approximately 400 hospitals since the September 2007 product launch. (more) Cardiovascular Systems, Inc. Feb. 25, 2009 Page 2 Safe Harbor This press release contains plans, intentions, objectives, estimates and expectations that constitute forward-looking statements about the company that involve significant risks and uncertainties. Examples of such statements include, but are not limited to, the expected cash that will be available to CSI's business as a result of the closing of the merger, the expected ownership of the stockholders of Replidyne and CSI after the closing of the merger and the anticipated benefits of the transaction. Actual results could differ materially from those discussed in the forward-looking statements due to a number of factors, including the accuracy of the company's estimates regarding expenses, future revenues and capital requirements, and the company's ability to obtain and maintain intellectual property protection for product candidates. These and additional risks and uncertainties are described more fully in CSI's registration statement on Form 10 filed with the Securities and Exchange Commission (SEC) on October 28, 2008 and Replidyne's most recent Form 10-K filed with the SEC under the Securities Exchange Act of 1934. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis and retrieval system (EDGAR) at www.sec.gov . All forward-looking statements made in the press release are made as of the date hereof and the company assumes no obligation to update the forward-looking statements in the document. Contacts: For Cardiovascular Systems, Inc. Padilla Speer Beardsley: Investor Relations Marian Briggs (651) 259-2800 (612) 455-1742 investorrelations@csi360.com mbriggs@psbpr.com Nancy A. Johnson (612) 455-1745 njohnson@psbpr.com # # #
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1041514-000106299319002045-exhibit99-1
EX-99.1 5 exhibit99-1.htm EXHIBIT 99.1 Net 1 UEPS Technologies, Inc. - Exhibit 99.1 - Filed by newsfilecorp.com Exhibit 99.1 Net1 sells 8% of DNI to RMB for ZAR 215 million; Company settles long term debt in full Johannesburg, May 7, 2019 - Net 1 UEPS Technologies, Inc. ("Net1" or the "Company") today announced that it has, through its wholly owned subsidiary, Net1 Applied Technologies South Africa Proprietary Limited ("Net1 SA"), entered into a transaction with FirstRand Bank Limited, acting through its Rand Merchant Bank division ("RMB"), in terms of which Net1 SA further reduced its shareholding in DNI-4PL Contracts Proprietary Limited ("DNI") from 38% to 30.4% for a transaction consideration of ZAR 215 million ($14.9 million). Net1 SA used the proceeds from the sale plus ZAR 15 million ($1.0 million) of its cash reserves to early-settle its outstanding long-term borrowings of ZAR 230 million in full on May 3, 2019. "This transaction further allows us to deleverage our balance sheet, free up our cash reserves and further shows our commitment of divesting non-strategic assets and to focus on our core fintech businesses and markets," said Herman G. Kotzé, Net1's Chief Executive Officer. "We will continue to be aligned with the DNI management team on their operational and strategic plans, and intend to pursue mutual revenue synergies". The transaction closed on May 3, 2019. Net1 has also entered into an agreement pursuant to which it has granted a call option to DNI to acquire its remaining 30.4% interest. The option expires on December 31, 2019 and may be exercised at any time during this period. Excluding any special distributions by DNI, the option strike price values Net1 SA's remaining 30.4% interest at ZAR 859 million ($59.3 million). All amounts translated to U.S. dollars at the May 3, 2019, USD/ZAR exchange rate of $1.00 / ZAR 14.46. About Net1 ( www.net1.com ) Net1 is a leading provider of transaction processing services, financial inclusion products and services and secure payment technology. Net1 operates market-leading payment processors in South Africa and the Republic of Korea. Net1 offers debit, credit and prepaid processing and issuing services for all major payment networks. In South Africa, Net1 provides innovative low-cost financial inclusion products, including banking, lending and insurance, and is a leading distributor of mobile subscriber starter packs for Cell C, a South African mobile network operator. Net1 leverages its strategic equity investments in Finbond and Bank Frick (both regulated banks), and Cell C to introduce products to new customers and geographies. Net1 has a primary listing on NASDAQ (NasdaqGS: UEPS) and a secondary listing on the Johannesburg Stock Exchange (JSE: NT1). Visit www.net1.com for additional information about Net1. Forward-Looking Statements This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical fact, included in this press release regarding strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management are forward-looking statements. The Company may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that the Company makes. Factors that might cause such differences include, but are not limited to: the Company failing to achieve or implement the expected operational and strategic plans with DNI management, or benefiting from the intended mutual revenue synergies with DNI, as well as other factors, many of which are beyond the Company's control; and other important factors included in the Company's reports filed with the Securities and Exchange Commission, particularly in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2018, as such Risk Factors may be updated from time to time in subsequent reports. The Company does not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Investor Relations Contact: Dhruv Chopra Group Vice President, Investor Relations Phone: +1-917-767-6722 Email: dchopra@net1.com Media Relations Contact: Bridget von Holdt Business Director - BCW Phone: +27-82-610-0650 Email: bridget.vonholdt@bm-africa.com
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354567-000114420405006096-v013610_ex99
EX-99 2 v013610_ex99.txt Exhibit 99 FOR IMMEDIATE RELEASE: UNITED HERITAGE CORPORATION TO DISTRIBUTE HERITAGE FOOD GROUP SHARES OIL & GAS EXPLORATION, DEVELOPMENT AND OPERATION NOW PARAMOUNT FOR UNITED HERITAGE CORPORATION CLEBURNE, Texas, February 28, 2005 -- United Heritage Corporation (Nasdaq: UHCP) announced today that Heritage Food Group, Inc., a wholly-owned subsidiary of United Heritage Corporation, was merged into BMW Holdings, Inc. (BMW), an unrelated third party with BMW being the surviving corporation in the merger. This transaction was completed under the terms of a Reorganization Agreement and an Agreement and Plan of Merger pursuant to which United Heritage Corporation transferred certain assets of National Heritage Sales Corporation, another of its wholly-owned subsidiaries, to Heritage Food Group, Inc. The assets included "Heritage Lifestyle" trademarks, point of sale material and good will. All other assets of National Heritage Sales Corporation either have been or will be sold. Upon giving effect to the merger, the existing shareholders of BMW retained a 92.5% interest in BMW and United Heritage Corporation obtained a 7.5% interest in BMW, consisting of 8,823,530 shares of BMW's Class A common stock. United Heritage Corporation intends to distribute to its shareholders all of its shares of BMW Class A common stock and BMW has agreed to register these shares with the Securities and Exchange Commission, in accordance with applicable securities laws and regulations. As consideration for the transfer, BMW will pay to United Heritage Corporation $75,000 in 12 equal monthly installments. BMW is also obligated to pay the legal fees incurred by the parties in connection with the transaction. "Management believes this move is in the best interest of United Heritage Corporation and its shareholders. We are pleased to have completed the merger with BMW Holdings, Inc. as United Heritage Corporation has wanted to exit the meat business which is non-core to our oil and gas operations. This transaction allows us to offer our shareholders an opportunity to derive value from our meat business by becoming part of Heritage Food Group's growth strategy, while simultaneously allowing United Heritage Corporation to focus on our core oil and gas operations. United Heritage Corporation is now involved strictly in oil and gas exploration, development and operation", said Walter G. Mize, President and CEO of United Heritage Corporation. About United Heritage Corporation: United Heritage Corporation is an oil & gas exploration and production company based in Cleburne, Texas. Through subsidiaries it holds four leasehold properties totaling 30,500 acres in Edwards County, Texas and Chaves and Roosevelt Counties, New Mexico, that are estimated to contain in excess of 275 million barrels of remaining oil-in-place. Currently, 27.6 million barrels/oil and 4,750,000 MCF/gas have been classified proved producing/proved undeveloped reserves. This press release may include forward-looking statements based on current expectations that involve a number of uncertainties. Details on the factors that could affect United Heritage Corporation's business and financial results are included in United Heritage Corporation's Securities and Exchange Commission filings, including the latest Annual Report on Form 10-KSB and on its Quarterly Reports on Form 10-QSB. Contact: United Heritage Corporation Walter G. Mize (817) 641-3681 - Phone (817) 641-3683 - Fax uhcp@aol.com
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5117-000143774911006170-ex99-2
EX-99.2 3 ex99-2.htm EXHIBIT 99.2 ex99-2.htm Exhibit 99.2 NEWS Contact: John P. Howlett Vice Chairman Emeritus Emtec, Inc. Telephone 908-338-0043 Email johnhowlett@emtecinc.com Web site www.emtecinc.com EMTEC, INC. RAISES $10 MILLION IN MEZZANINE FINANCING Springfield, NJ, August 16, 2011 - Emtec, Inc. (OTCQB: ETEC) ("Emtec" or the "Company"), a systems integrator, today announced that a new investment partner, NewSpring Mezzanine Capital, has invested $10 million of mezzanine debt financing in Emtec. NewSpring is a leading provider of capital to growth companies headquartered in the Mid-Atlantic Region. The proceeds are being used to repay senior debt, fund the Emerging acquisition (see separate press release), pay transaction expenses, and for growth. Steve Hobman, General Partner of NewSpring Mezzanine, commented, "We are very excited to be able to become a long-term partner with Emtec for its continued growth. We believe the Company's management team brings a great deal of expertise and experience to the IT Services Market, and we are excited about the new capabilities Emerging Solutions brings to the Company. Management has positioned themselves to move Emtec's name into the frontlines of the IT consulting and outsourcing market. We are looking forward to helping them grow". Greg Chandler, Chief Financial Officer of Emtec, stated, "I have known the leadership team at NewSpring for quite some time. We are very happy to have found a partner who will be able to grow with us as we continue our expansion across the U.S and globally. We were impressed with the speed and diligence of NewSpring and are looking forward to their financial and strategic advice as we move into 2012". Advisors Emtec's legal advisor was Dechert LLP and financial advisor and sole placement agent was Janney Montgomery Scott LLC. About Emtec: Emtec, Inc. established in 1964, provides information technology (IT) services and products to the federal, state and local government, education and commercial markets. Emtec helps clients identify and prioritize areas for improvement and then implement process, technology and business application improvements that reduce costs, improve service and align the delivery of IT with the needs of their organizations. Emtec's market leading value based management methods, coupled with best-in-class IT technology, consulting and development services, address a wide range of specific client needs, as well as support broader IT transformation initiatives. Emtec's service capabilities span the USA, Canada and countries around the globe. For more information visit: www.emtecinc.com. About NewSpring Capital & NewSpring Mezzanine Capital: NewSpring Capital, based in Radnor, Pennsylvania; Short Hills, New Jersey; Washington, D.C. and Baltimore, MD is a leading provider of private equity capital focused in the Mid-Atlantic region. NewSpring Capital currently has $600 million invested across three distinct investment strategies through its family of funds. NewSpring Mezzanine Capital also provides mezzanine capital for expansion stage and buy-out opportunities in the business services, health care, information technology, and specialty manufacturing sectors. Certain statements in this document constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to: (i) the Company's ability to obtain sufficient capital or a strategic business arrangement to fund its plan of operations when needed; (ii) the Company's ability to build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission which are available for review at www.sec.gov under "Search for Company Filings." We undertake no obligation to publicly update or revise any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, or changes to future results over time.
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1188303-000095012904009820-h21000exv99w1
EX-99.1 2 h21000exv99w1.txt PRESS RELEASE DATED DECEMBER 14, 2004 Exhibit 99.1 [CENTERPOINT [TEXAS GENCO For CNP information, contact: ENERGY LOGO] LOGO] MEDIA: LETICIA LOWE Phone 713.207.7702 INVESTORS: MARIANNE PAULSEN Phone 713.207.6500 For Texas Genco LLC information, contact: JOE HOUSEHOLDER FOR IMMEDIATE RELEASE Phone 713-945-3523 Page 1 of 2 -------------------------------------------------------------------------------- TEXAS GENCO'S PUBLICLY HELD SHARES CONVERTED INTO $47 PER SHARE TGN stock will cease trading at market close today HOUSTON - DECEMBER 14, 2004 - CenterPoint Energy, Inc. (NYSE: CNP) and Texas Genco Holdings, Inc. (NYSE: TGN) today announced the closing of Texas Genco Holdings' merger with a wholly owned subsidiary of CenterPoint Energy. As a result of the merger, Texas Genco Holdings' publicly held shares have been converted into the right to receive $47 per share in cash without interest and less any applicable withholding taxes. Following the close of trading today, Texas Genco Holdings' shares will no longer be publicly traded. The merger is part of the first step of the transaction announced in July in which Texas Genco LLC, formerly known as GC Power Acquisition LLC, will acquire CenterPoint Energy's wholesale electric power generation company for about $3.65 billion in cash. Texas Genco LLC is owned in equal parts by affiliates of The Blackstone Group, Hellman & Friedman LLC, Kohlberg Kravis Roberts & Co. L.P. and Texas Pacific Group. The final portion of this step is to be completed December 15, 2004, when Texas Genco Holdings will sell its subsidiary that owns its coal, lignite and gas-fired generation plants to Texas Genco LLC for $2.813 billion in cash. Cash proceeds to CenterPoint Energy from this step, after payment of the $47 per share to the public shareholders, will be $2.231 billion. The second step of the transaction is expected to take place in the first half of 2005 following receipt of approval by the Nuclear Regulatory Commission. Texas Genco LLC will acquire Texas Genco Holdings, Inc., whose principal remaining asset will be its ownership interest in the South Texas Project nuclear generating facility, for $700 million. Total cash proceeds to CenterPoint Energy from both steps of the transaction are expected to be approximately $2.931 billion, representing a price to CenterPoint Energy of $45.25 per share for its ownership interest in Texas Genco Holdings. For more information regarding these transactions, please refer to Texas Genco Holdings' information statement on Schedule 14C dated November 12, 2004, which can be found on both the Securities and Exchange Commission's Internet site located at http://www.sec.gov and on Texas Genco Holdings' Internet site located at http://www.txgenco.com. Any questions about the payment of the merger consideration should be directed to 800.231.6406. -more- Page 2 of 2 -------------------------------------------------------------------------------- This news release includes forward-looking statements. Actual events and results may differ materially from those projected. The statements in this news release regarding future events and other statements that are not historical facts are forward-looking statements. Factors that could affect actual results include the satisfaction of certain closing conditions relating to the future transactions described in this release, the timing and impact of future regulatory decisions, and other factors discussed in CenterPoint Energy's and Texas Genco Holdings' Form 10-Ks for the period ended December 31, 2003, Form 10-Qs for the periods ended March 31, 2004, June 30, 2004, and September 30, 2004 and other filings with the Securities and Exchange Commission. ###
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1586049-000143774918020173-ex_128964
EX-99.1 2 ex_128964.htm EXHIBIT 99.1 ex_128964.htm Exhibit 99.1 Quest Contacts Kim Gorode (Media): 973-520-2800 Shawn Bevec (Investors): 973-520-2900 Oxford Immunotec Global Contact: Karen Koski (Investors & Media), 508-556-1377 or kkoski@oxfordimmunotec.com Quest Diagnostics Completes Acquisition of U.S. Laboratory Services Business of Oxford Immunotec Oxford Immunotec 's T-SPOT ® . TB T uberculosis and Accutix™ T ick- B orne D isease T esting Services are Part of Quest Diagnostics ' Portfolio of Innovative Infectious Disease Diagnostics Tests , Broadening Access in the United States SECAUCUS , NJ, OXFORD, England and MARLBOROUGH, Mass. - November 6, 201 8 - Quest Diagnostics (NYSE: DGX) and Oxford Immunotec Global PLC (Nasdaq: OXFD) today announced that Quest Diagnostics has completed its previously announced acquisition of the U.S. laboratory services business of Oxford Immunotec. The T-SPOT. TB tuberculosis and the Accutix tick-borne disease testing services are now part of Quest Diagnostics' portfolio of innovative infectious disease testing services. As part of the transaction, Oxford Immunotec will sell T-SPOT. TB test kits and related accessories to Quest Diagnostics under the terms of a long-term supply agreement. In addition, the parties have entered into a strategic collaboration agreement to drive continued growth of T-SPOT. TB testing in the U.S. Quest Diagnostics intends to continue to offer QuantiFERON TB testing services to provide physicians choice in blood-based TB testing. About Blood- B ased TB Testing The T-SPOT. TB test is an interferon-gamma release assay (IGRA) that is intended for use as an aid in the diagnosis of Mycobacterium tuberculosis infection and disease. As many as 13 million cases of latent TB may exist in the U.S. i The Infectious Diseases Society of America (IDSA) and other medical associations recommend blood-based IGRA TB testing over traditional skin testing for certain patient populations, citing relative accuracy and the ability to perform IGRA testing with one office visit. About Quest Diagnostics Quest Diagnostics empowers people to take action to improve health outcomes. Derived from the world's largest database of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve health care management. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States, and our 45,000 employees understand that, in the right hands and with the right context, our diagnostic insights can inspire actions that transform lives. www.QuestDiagnostics.com . Quest, Quest Diagnostics, and all associated Quest Diagnostics registered or unregistered trademarks are the property of Quest Diagnostics. All third-party marks are the property of their respective owners. About Oxford Immunotec Oxford Immunotec Global PLC is a global, high-growth diagnostics company focused on developing and commercializing proprietary tests for the management of underserved immune-regulated conditions. The Company's T-SPOT. TB test has been approved for sale in over 50 countries, including the United States, where it has received pre-market approval from the Food and Drug Administration, Europe, where it has obtained a CE mark, as well as Japan and China. The Company is headquartered near Oxford, U.K. and in Marlborough, MA. Additional information can be found at www.oxfordimmunotec.com . T-SPOT and the Oxford Immunotec logo are trademarks of Oxford Immunotec Ltd. Forward-Looking Statements This release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, contained in this release are forward-looking statements. This includes statements about Oxford Immunotec's anticipated plans, objectives, intentions, the anticipated benefits of the transaction, the effects of the transaction, including effects on future financial and operating results, prospects for sales of its products and other statements that are not historical facts. Actual events or results may differ materially from those described in this release due to a number of risks and uncertainties. Risks and uncertainties include, among others: the potential disruption of management time from ongoing business operations due to the transaction; the risk that Oxford Immunotec may fail to realize the expected benefits from the transaction; the risk that the announcement of the completion of the transaction could have adverse effects on the market price of Oxford Immunotec's ordinary shares; decisions by regulatory authorities, hospitals and other health care institutions, laboratories, physicians, patients and third party payers that could affect Oxford Immunotec's business and prospects; Oxford Immunotec's exposure to potential litigation and contingent liabilities pursuant to the transaction; as well as Oxford Immunotec's ability to expeditiously and successfully expand its sales and distribution networks. The risks included above are not exhaustive. Other factors that could adversely affect Oxford Immunotec's business and prospects are described under the "Risk Factors" section in its filings with the Securities and Exchange Commission ("SEC"). Oxford Immunotec's SEC filings are available for free by visiting the investor section of its website, www.oxfordimmunotec.com , or the SEC's website, www.sec.gov . Investors should give careful consideration to these risks and uncertainties. Forward-looking statements contained herein are based on current expectations and assumptions and currently available data and are neither predictions nor guarantees of future events or performance. You should not place undue reliance on forward-looking statements contained herein, which speak only as of the date of this release. Oxford Immunotec does not undertake to update or revise any forward-looking statements after they are made, whether as a result of new information, future events, or otherwise, except as required by applicable law. i https://labtestsonline.org/news/blood-tests-recommended-over-skin-tests-to-check-for-tb-in-most-cases
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1210708-000092189520002507-ex991to8k11776012_10012020
EX-99.1 3 ex991to8k11776012_10012020.htm Exhibit 99.1 Hudson Global Acquires Coit Group Significantly Expands Hudson RPO's Tech Sector and West Coast Presence Establishes Office in San Francisco OLD GREENWICH, CT, October 1, 2020 - Hudson Global, Inc. (the "Company" or "Hudson RPO") (Nasdaq: HSON), a leading global total talent solutions company, announced today the acquisition of Coit Group ("Coit"), a San Francisco-based RPO provider. Founded 20 years ago by Joe Belluomini and Tim Farrelly, Coit is an RPO provider specializing in procuring top talent for high-growth companies, predominately in the San Francisco Bay Area. With this acquisition, Hudson RPO significantly expands its presence in the technology sector and establishes an office in San Francisco. In addition, Joe Belluomini and Tim Farrelly will become co-CEOs of Hudson RPO's newly-formed Technology Group. The Technology Group will operate jointly with Hudson RPO's existing teams in the Americas, Asia Pacific, and EMEA regions to grow Hudson RPO's service offering to technology clients. The Technology Group will also provide continuous access to knowledge regarding new and emerging technologies in the RPO, MSP, and Total Talent Solutions space so Hudson RPO can better serve all of its clients around the world. "Our RPO model was significantly influenced by Hudson RPO, which makes this combination a natural fit. We are very excited about Hudson RPO's strong reputation and global reach, as well as what we can do together for our clients. We are very happy to become part of the Hudson RPO team", said Mr. Belluomini, CEO of Coit. "This transaction represents a significant achievement for the Coit team and is a testament to the team's dedication and performance. We believe our long history of providing excellent service to companies in the Bay Area combined with Hudson RPO's global market position creates an exciting growth opportunity to meet the global talent needs of our clients", said Mr. Farrelly, President of Coit. "We are thrilled to welcome the Coit team to Hudson RPO and believe this accretive combination will generate considerable value for our clients, team, and stockholders going forward", said Jeff Eberwein, Chief Executive Officer of the Company. "The addition of Coit significantly expands Hudson RPO's presence in the technology sector and on the West Coast. Hudson RPO now has an office in the San Francisco/Silicon Valley region staffed with a talented team which, combined with Hudson RPO's global delivery capability, positions us well to serve the global growth ambitions of companies located in this thriving region". About Hudson RPO Hudson Global, Inc. is a leading total talent solutions provider operating under the brand name Hudson RPO. We deliver innovative, customized recruitment outsourcing and total talent solutions to organizations worldwide. Through our consultative approach, we design tailored solutions to meet our clients' strategic growth initiatives. As a trusted advisor, we meet our commitments, deliver quality and value, and strive to always exceed expectations. For more information, please visit us at hudsonrpo.com or contact us at ir@hudsonrpo.com . Investor Relations: The Equity Group Lena Cati 212 836-9611 lcati@equityny.com About Coit Group Coit Group works with top talent to build winning teams for high-growth companies. Our knowledgeable, friendly, and results-driven recruiters carefully screen candidates to ensure they are an exceptional match for the position, team personalities, and unique company culture long before they meet with the client. Please visit coitgroup.com for more information. Forward-Looking Statements This press release contains statements that the company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the company's future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as "anticipate", "estimate", "expect", "project", "intend," "plan", "predict", "believe" and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. All forward-looking statements are subject to important factors, risks, uncertainties, and assumptions, including industry and economic conditions that could cause actual results to differ materially from those described in the forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to, global economic fluctuations; the adverse impacts of the recent coronavirus, or COVID-19 outbreak; the Company's ability to successfully achieve its strategic initiatives; risks related to the Company's large cash balance relative to its market capitalization as a small public company; risks related to potential acquisitions or dispositions of businesses by the Company; the Company's ability to retain and recruit qualified management and/or advisors; the Company's ability to operate successfully as a company focused on its RPO business; risks related to fluctuations in the Company's operating results from quarter to quarter; the ability of clients to terminate their relationship with the Company at any time; competition in the Company's markets; the negative cash flows and operating losses that may recur in the future; risks relating to how future credit facilities may affect or restrict our operating flexibility; risks associated with the Company's investment strategy; risks related to international operations, including foreign currency fluctuations, political events, natural disasters or health crises, including the ongoing COVID-19 outbreak; the Company's dependence on key management personnel; the Company's ability to attract and retain highly skilled professionals; the Company's ability to collect accounts receivable; the Company's ability to maintain costs at an acceptable level; the Company's heavy reliance on information systems and the impact of potentially losing or failing to develop technology; risks related to providing uninterrupted service to clients; the Company's exposure to employment-related claims from clients, employers and regulatory authorities, current and former employees in connection with the Company's business reorganization initiatives, and limits on related insurance coverage; the Company's ability to utilize net operating loss carry-forwards; volatility of the Company's stock price; the impact of government regulations; and restrictions imposed by blocking arrangements. Additional information concerning these, and other factors is contained in the Company's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this document. The Company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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1137046-000095015908000443-ex99-1
EX-99.1 2 ex99-1.htm EXHIBIT 99.1 ex99-1.htm Exhibit 99.1 Southern Connecticut Bancorp, Inc . Press Release For More Information Contact: John H. Howland Executive Vice President & Chief Operating Officer (203) 782-1100 Southern Connecticut Bancorp, Inc. Completes Sale of New London Branch New Haven, Connecticut (March 6, 2008) - Southern Connecticut Bancorp, Inc. (AMEX:SSE), the holding company for The Bank of Southern Connecticut announced today the completion of the sale of its branch known as The Bank of Southeastern Connecticut, a division of The Bank of Southern Connecticut located in New London, Connecticut. The branch was purchased by Savings Institute Bank and Trust Company, a wholly-owned subsidiary of SI Financial Group, Inc. (NASDAQ Global Market: SIFI). The sale of this branch is part of an overall profitability enhancement program and expense saving initiative instituted by the Board of Directors and Management of the Company. The Bank of Southern Connecticut plans to use the proceeds from this transaction to support its operations in the greater New Haven market. About Southern Connecticut Bancorp, Inc. Southern Connecticut Bancorp, Inc. is a commercial bank holding company dedicated to serving the banking needs of businesses located in the greater New Haven area. Southern Connecticut Bancorp owns 100% of The Bank of Southern Connecticut, headquartered in New Haven Connecticut. The Bank of Southern Connecticut is a provider of commercial banking services to a client base of small to midsized companies with annual sales typically ranging from $1,000,000 to $30,000,000. The Bank's services include a wide range of deposit, loan and other basic commercial banking products along with a variety of consumer banking products. The Bank currently operates four branches, two in New Haven, Connecticut, one in Branford, Connecticut and one in North Haven, Connecticut. Certain statements contained in this release and in other written materials and statements we may issue, including without limitation statements containing the word "believes", "anticipates", "intends", "expects", "estimates", "could", "would", "will", or words of similar import, constitute forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements involve risks, uncertainties and other factors that may cause our actual future results, performance or achievements to be materially different from any future results expressed or implied by such forward-looking statements. Such factors include, among others, a limited operating history and volatility of earnings, our dependence on our executive management and Board of Directors, our business concentration in small to midsized businesses in the New Haven, Connecticut area, as well as changes in our business, competitive market and regulatory conditions and strategies. Additional information concerning factors that could impact forward-looking statements can be found in the company's periodic public filings with the Securities and Exchange Commission. Given these uncertainties, readers are cautioned not to place any undue reliance on such forward-looking statements. We disclaim any intent or obligation to update these forward-looking statements to reflect facts, assumptions, circumstances or events that occur after the date on which such forward-looking statements were made.
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909494-000143774919005316-ex_138216
EX-99.1 4 ex_138216.htm EXHIBIT 99.1 ex_138216.htm Exhibit 99.1 Tucows Inc. Acquires Wholesale Domain Registrar Ascio Technologies -- European registrar brings incremental scale, additional domain products and a high-quality reseller base to Tucows' domains business -- TORONTO, March 19, 2019 - Tucows Inc. (NASDAQ:TCX, TSX:TC), a provider of network access, domain names and other Internet services, announced that it has signed a definitive agreement to acquire wholesale domain name registrar Ascio Technologies from CSC®. The transaction closed yesterday. Tucows will pay $29.44 million and the transaction is expected to be immediately accretive to operating cash flow. The purchase price will be funded through Tucows' existing credit facility. The acquisition of Ascio adds approximately 1.8 million domains under management and approximately 500 active resellers. The Ascio reseller base fits squarely with Tucows' core customer profile -- ISPs, web hosting companies and website builders serving quality businesses that reward outstanding customer service with long-term loyalty. Ascio also expands Tucows' product portfolio with one of the most complete offerings of country code TLDs (ccTLDs) and generic TLDs (gTLDs) in the world. Jørgen Christensen, Managing Director of Ascio commented, "This deal is all about focus. We wanted to find a buyer who would focus on our resellers so that CSC can focus on managing brands for the biggest and best companies around the world". "This acquisition makes perfect sense for Ascio's resellers, our business and our shareholders", added David Woroch, Tucows' Executive Vice President of Domains. "Ascio's resellers get a customer-focused provider that is investing in its wholesale channel. Tucows gets an excellent business with a deeply experienced team, additional domain products, including more than 50 ccTLDs, and a high-quality customer base that strengthens our European presence. And our shareholders get the benefit of Tucows' even greater scale and efficiency as the world's largest wholesale domain registrar". The contribution from this transaction, based on a partial year and transaction costs, was contemplated in the 2019 guidance provided by Tucows on February 13, 2019. Pre-acquisition, the Ascio business generated approximately $4 million of annual EBITDA. Tucows is required to apply acquisition accounting to the assets and liabilities acquired, including fair valuation of the acquired deferred revenue balance, which will lower the reported Adjusted EBITDA 1 contribution in the first approximately one year period following the acquisition. The acquisition is expected to provide synergies over the next 12 to 18 months which, along with the inclusion of full year financial results, is expected to generate an internal rate of return and multiple that are in line with Company benchmarks. About Ascio Ascio Technologies was founded in 1999, and is an accredited domain registrar under the Internet Corporation for Assigned Names and Numbers with approximately 1.8 million domains under management. Ascio is a part of the family of brands under CSC. About CSC CSC is the world's leading provider of business, legal, tax, and digital brand services to companies around the globe. From keeping businesses in compliance and streamlining operations, to protecting and promoting brands online, CSC uses its expertise and personal approach to help businesses run smoother. CSC is the business behind business. It is the trusted partner for 90% of the Fortune 500®, more than 65% of the Best Global Brands (Interbrand®), nearly 10,000 law firms, and more than 3,000 financial organizations. Headquartered in Wilmington, Delaware, USA, since 1899, CSC has offices throughout the United States, Canada, Europe, and the Asia-Pacific region. CSC is a global company capable of doing business wherever its clients are-and it accomplishes that by employing experts in every business it serves. Learn more at https://www.cscglobal.com . About Tucows Tucows is a provider of network access, domain names and other Internet services. Ting ( https://ting.com ) delivers mobile phone service and fixed Internet access with outstanding customer support. OpenSRS ( http://opensrs.com ) and Enom ( http://www.enom.com ) manage a combined 23 million domain names and millions of value-added services through a global reseller network of over 37,000 web hosts and ISPs. Hover ( http://hover.com ) makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows' corporate website ( http://tucows.com ). Tucows, Ting, OpenSRS, Enom and Hover are registered trademarks of Tucows Inc. or its subsidiaries. Notes: 1. Adjusted EBITDA Tucows reports all financial information required in accordance with United States generally accepted accounting principles (GAAP). Along with this information, to assist financial statement users in an assessment of our historical performance, the Company typically discloses and discusses a non-GAAP financial measure, adjusted EBITDA, in press releases and on investor conference calls and related events that exclude certain non-cash and other charges as the Company believes that the non-GAAP information enhances investors' overall understanding of our financial performance. The Company believes that the provision of this supplemental non-GAAP measure allows investors to evaluate the operational and financial performance of the Company's core business using similar evaluation measures to those used by management. The Company uses adjusted EBITDA to measure its performance and prepare its budgets. Since adjusted EBITDA is a non-GAAP financial performance measure, the Company's calculation of adjusted EBITDA may not be comparable to other similarly titled measures of other companies; and should not be considered in isolation, as a substitute for, or superior to measures of financial performance prepared in accordance with GAAP. Because adjusted EBITDA is calculated before recurring cash charges, including interest expense and taxes, and is not adjusted for capital expenditures or other recurring cash requirements of the business, it should not be considered as a liquidity measure. Non-GAAP financial measures do not reflect a comprehensive system of accounting and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies and/or analysts and may differ from period to period. The Company endeavors to compensate for these limitations by providing the relevant disclosure of the items excluded in the calculation of adjusted EBITDA to net income based on U.S. GAAP, which should be considered when evaluating the Company's results. Tucows strongly encourages investors to review its financial information in its entirety and not to rely on a single financial measure. The Company's adjusted EBITDA definition excludes depreciation, amortization of intangible assets, income tax provision, interest expense, interest income, stock-based compensation, asset impairment, gains and losses from unrealized foreign currency transactions and infrequently occurring items, including acquisition and transition costs. Gains and losses from unrealized foreign currency transactions removes the unrealized effect of the change in the mark-to-market values on outstanding unhedged foreign currency contracts, as well as the unrealized effect from the translation of monetary accounts denominated in non-U.S. dollars to U.S. dollars. Contact: Lawrence Chamberlain Loderock Advisors (416) 519-4196 lawrence.chamberlain@loderockadvisors.com
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715579-000110465920003267-tm201748d1_ex99-1
EX-99.1 2 tm201748d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Press Release FOR IMMEDIATE RELEASE Contact: Lynda L. Glass EVP/Secretary & Chief Governance Officer 717.339.5085 lglass@acnb.com ACNB Corporation announceS Completion of the acquisition of FREDERICK COUNTY BANCORP, inc. GETTYSBURG, PA, January 13, 2020 --- ACNB Corporation (NASDAQ: ACNB), the parent financial holding company of ACNB Bank, a Pennsylvania state-chartered, FDIC-insured community bank, headquartered in Gettysburg, PA, announced the completion of the acquisition of Frederick County Bancorp, Inc. (OTCPink: FCBI) ("FCBI") and its wholly-owned subsidiary, Frederick County Bank, headquartered in Frederick, MD, effective January 11, 2020. FCBI was merged with and into a wholly-owned subsidiary of ACNB Corporation immediately followed by the merger of Frederick County Bank with and into ACNB Bank. ACNB Bank will operate in the Frederick County, MD, market as "FCB Bank, A Division of ACNB Bank". Under the terms of the Reorganization Agreement, FCBI stockholders received 0.9900 share of ACNB Corporation common stock for each share of FCBI common stock that they owned as of the closing date. As a result, ACNB Corporation issued approximately 1,600,000 shares of its common stock and cash in exchange for fractional shares based upon $36.43, the determined market share price of ACNB Corporation common stock in accordance with the Reorganization Agreement. In addition, pursuant to the Reorganization Agreement, former FCBI director Kimberly S. Chaney was appointed as a Class 3 Director to ACNB Corporation's Board of Directors and as Director to ACNB Bank's Board of Directors. Ms. Chaney, the former chairman of the FCBI board of directors, has been a CPA for over 30 ACNB CORPORATION Press Release/ACNB Corporation Announces Completion of the Acquisition of Frederick County Bancorp, Inc. January 13, 2020 Page 2 of 3 years and owns an accounting practice specializing in financial services and consulting for small businesses in Frederick, MD. With the combination of the two organizations, ACNB Corporation, on a consolidated basis, has approximately $2.2 billion in assets, $1.8 billion in deposits, and $1.6 billion in loans with 34 community banking offices and three loan offices located in the counties of Adams, Cumberland, Franklin, Lancaster and York in Pennsylvania and the counties of Baltimore, Carroll and Frederick in Maryland. "We are excited to welcome Frederick County Bancorp, Inc. as ACNB Corporation expands its presence in the Maryland market", stated ACNB Corporation President & Chief Executive Officer James P. Helt. "Frederick is a growing, vibrant market for community banking, which is at the core of ACNB Corporation's success for more than 160 years. It is our belief the addition of Frederick County Bank's community banking network in Frederick County, Maryland, positions ACNB Corporation for strong and profitable growth in a desirable market that is adjacent to our current footprint in southcentral Pennsylvania and central Maryland". He continued, "Strategically, this acquisition is intended to complement our existing operations, while contributing to the Corporation's established tradition of enhancing long-term shareholder value. As a result of the acquisition, Kimberly S. Chaney joins the Boards of Directors of ACNB Corporation and ACNB Bank. Her knowledge of the Frederick market will prove valuable in the successful execution of our long-term strategic plan". Bybel Rutledge LLP served as legal counsel and Boenning & Scattergood, Inc. served as financial advisor to ACNB Corporation. Buckley LLP served as legal counsel and Sandler O'Neill + Partners, LP served as financial advisor to Frederick County Bancorp, Inc. ACNB Corporation, headquartered in Gettysburg, PA, is the financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and Russell Insurance Group, Inc., Westminster, MD. Originally founded in 1857, ACNB Bank serves its marketplace with banking and wealth ACNB CORPORATION Press Release/ACNB Corporation Announces Completion of the Acquisition of Frederick County Bancorp, Inc. January 13, 2020 Page 3 of 3 management services, including trust and retail brokerage, via a network of 22 community banking offices, located in the four southcentral Pennsylvania counties of Adams, Cumberland, Franklin and York, as well as loan offices in Lancaster and York, PA, and Hunt Valley, MD. As divisions of ACNB Bank operating in Maryland, FCB Bank and NWSB Bank serve the local marketplace via a network of five and seven community banking offices located in Frederick County and Carroll County, MD, respectively. Russell Insurance Group, Inc., the Corporation's insurance subsidiary, is a full-service agency with licenses in 44 states. The agency offers a broad range of property, casualty, health, life and disability insurance serving personal and commercial clients through office locations in Westminster, Germantown and Jarrettsville, MD. For more information regarding ACNB Corporation and its subsidiaries, please visit acnb.com. # # # FORWARD-LOOKING STATEMENTS - In addition to historical information, this press release may contain forward-looking statements. Examples of forward-looking statements include, but are not limited to, (a) projections or statements regarding future earnings, expenses, net interest income, other income, earnings or loss per share, asset mix and quality, growth prospects, capital structure, and other financial terms, (b) statements of plans and objectives of management or the Board of Directors, and (c) statements of assumptions, such as economic conditions in the Corporation's market areas. Such forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "expects", "may", "intends", "will", "should", "anticipates", or the negative of any of the foregoing or other variations thereon or comparable terminology, or by discussion of strategy. Forward-looking statements are subject to certain risks and uncertainties such as local economic conditions, competitive factors, and regulatory limitations. Actual results may differ materially from those projected in the forward-looking statements. Such risks, uncertainties and other factors that could cause actual results and experience to differ from those projected include, but are not limited to, the following: the effects of governmental and fiscal policies, as well as legislative and regulatory changes; the effects of new laws and regulations, specifically the impact of the Tax Cuts and Jobs Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act; impacts of the capital and liquidity requirements of the Basel III standards; the effects of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters; ineffectiveness of the business strategy due to changes in current or future market conditions; future actions or inactions of the United States government, including the effects of short- and long-term federal budget and tax negotiations and a failure to increase the government debt limit or a prolonged shutdown of the federal government; the effects of economic conditions on current customers, specifically the effect of the economy on loan customers' ability to repay loans; the effects of competition, and of changes in laws and regulations on competition, including industry consolidation and development of competing financial products and services; the risks of changes in interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities, and interest rate protection agreements, as well as interest rate risks; difficulties in acquisitions and integrating and operating acquired business operations, including information technology difficulties; challenges in establishing and maintaining operations in new markets; the effects of technology changes; volatilities in the securities markets; the effect of general economic conditions and more specifically in the Corporation's market area; the failure of assumptions underlying the establishment of reserves for loan losses and estimations of values of collateral and various financial assets and liabilities; acts of war or terrorism; disruption of credit and equity markets; the ability to manage current levels of impaired assets; the loss of certain key officers; the ability to maintain the value and image of the Corporation's brand and protect the Corporation's intellectual property rights; continued relationships with major customers; and, potential impacts to the Corporation from continually evolving cybersecurity and other technological risks and attacks, including additional costs, reputational damage, regulatory penalties, and financial losses. We caution readers not to place undue reliance on these forward-looking statements. They only reflect management's analysis as of this date. The Corporation does not revise or update these forward-looking statements to reflect events or changed circumstances. Please carefully review the risk factors described in other documents the Corporation files from time to time with the SEC, including the Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Please also carefully review any Current Reports on Form 8-K filed by the Corporation with the SEC. ACNB #2020-1 January 13, 2020
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"of", "Frederick", "County", "Bancorp", ",", "Inc", ".", "January", "13", ",", "2020", "Page", "2", "of", "3", "years", "and", "owns", "an", "accounting", "practice", "specializing", "in", "financial", "services", "and", "consulting", "for", "small", "businesses", "in", "Frederick", ",", "MD", ".", "With", "the", "combination", "of", "the", "two", "organizations", ",", "ACNB", "Corporation", ",", "on", "a", "consolidated", "basis", ",", "has", "approximately", "$", "2.2 billion", "in", "assets", ",", "$", "1.8 billion", "in", "deposits", ",", "and", "$", "1.6 billion", "in", "loans", "with", "34", "community", "banking", "offices", "and", "three", "loan", "offices", "located", "in", "the", "counties", "of", "Adams", ",", "Cumberland", ",", "Franklin", ",", "Lancaster", "and", "York", "in", "Pennsylvania", "and", "the", "counties", "of", "Baltimore", ",", "Carroll", "and", "Frederick", "in", "Maryland", ".", "\"", "We", "are", "excited", "to", "welcome", "Frederick", "County", "Bancorp", ",", "Inc", ".", "as", "ACNB", "Corporation", "expands", "its", "presence", "in", "the", "Maryland", "market", "\"", ",", "stated", "ACNB", "Corporation", "President", "&", "Chief", "Executive", "Officer", "James", "P", ".", "Helt", ".", "\"", "Frederick", "is", "a", "growing", ",", "vibrant", "market", "for", "community", "banking", ",", "which", "is", "at", "the", "core", "of", "ACNB", "Corporation", "'s", "success", "for", "more", "than", "160", "years", ".", "It", "is", "our", "belief", "the", "addition", "of", "Frederick", "County", "Bank", "'s", "community", "banking", "network", "in", "Frederick", "County", ",", "Maryland", ",", "positions", "ACNB", "Corporation", "for", "strong", "and", "profitable", "growth", "in", "a", "desirable", "market", "that", "is", "adjacent", "to", "our", "current", "footprint", "in", "southcentral", "Pennsylvania", "and", "central", "Maryland", "\"", ".", "He", "continued", ",", "\"", "Strategically", ",", "this", "acquisition", "is", "intended", "to", "complement", "our", "existing", "operations", ",", "while", "contributing", "to", "the", "Corporation", "'s", "established", "tradition", "of", "enhancing", "long", "-", "term", "shareholder", "value", ".", "As", "a", "result", "of", "the", "acquisition", ",", "Kimberly", "S", ".", "Chaney", "joins", "the", "Boards", "of", "Directors", "of", "ACNB", "Corporation", "and", "ACNB", "Bank", ".", "Her", "knowledge", "of", "the", "Frederick", "market", "will", "prove", "valuable", "in", "the", "successful", "execution", "of", "our", "long", "-", "term", "strategic", "plan", "\"", ".", "Bybel", "Rutledge", "LLP", "served", "as", "legal", "counsel", "and", "Boenning", "&", "Scattergood", ",", "Inc", ".", "served", "as", "financial", "advisor", "to", "ACNB", "Corporation", ".", "Buckley", "LLP", "served", "as", "legal", "counsel", "and", "Sandler", "O", "'", "Neill", "+", "Partners", ",", "LP", "served", "as", "financial", "advisor", "to", "Frederick", "County", "Bancorp", ",", "Inc", ".", "ACNB", "Corporation", ",", "headquartered", "in", "Gettysburg", ",", "PA", ",", "is", "the", "financial", "holding", "company", "for", "the", "wholly", "-", "owned", "subsidiaries", "of", "ACNB", "Bank", ",", "Gettysburg", ",", "PA", ",", "and", "Russell", "Insurance", "Group", ",", "Inc", ".", ",", "Westminster", ",", "MD", ".", "Originally", "founded", "in", "1857", ",", "ACNB", "Bank", "serves", "its", "marketplace", "with", "banking", "and", "wealth", "ACNB", "CORPORATION", "Press", "Release", "/", "ACNB", "Corporation", "Announces", "Completion", "of", "the", "Acquisition", "of", "Frederick", "County", "Bancorp", ",", "Inc", ".", "January", "13", ",", "2020", "Page", "3", "of", "3", "management", "services", ",", "including", "trust", "and", "retail", "brokerage", ",", "via", "a", "network", "of", "22", "community", "banking", "offices", ",", "located", "in", "the", "four", "southcentral", "Pennsylvania", "counties", "of", "Adams", ",", "Cumberland", ",", "Franklin", "and", "York", ",", "as", "well", "as", "loan", "offices", "in", "Lancaster", "and", "York", ",", "PA", ",", "and", "Hunt", "Valley", ",", "MD", ".", "As", "divisions", "of", "ACNB", "Bank", "operating", "in", "Maryland", ",", "FCB", "Bank", "and", "NWSB", "Bank", "serve", "the", "local", "marketplace", "via", "a", "network", "of", "five", "and", "seven", "community", "banking", "offices", "located", "in", "Frederick", "County", "and", "Carroll", "County", ",", "MD", ",", "respectively", ".", "Russell", "Insurance", "Group", ",", "Inc", ".", ",", "the", "Corporation", "'s", "insurance", "subsidiary", ",", "is", "a", "full", "-", "service", "agency", "with", "licenses", "in", "44", "states", ".", "The", "agency", "offers", "a", "broad", "range", "of", "property", ",", "casualty", ",", "health", ",", "life", "and", "disability", "insurance", "serving", "personal", "and", "commercial", "clients", "through", "office", "locations", "in", "Westminster", ",", "Germantown", "and", "Jarrettsville", ",", "MD", ".", "For", "more", "information", "regarding", "ACNB", "Corporation", "and", "its", "subsidiaries", ",", "please", "visit", "acnb.com", ".", "#", "#", "#", "FORWARD", "-", "LOOKING", "STATEMENTS", "-", "In", "addition", "to", "historical", "information", ",", "this", "press", "release", "may", "contain", "forward", "-", "looking", "statements", ".", "Examples", "of", "forward", "-", "looking", "statements", "include", ",", "but", "are", "not", "limited", "to", ",", "(", "a", ")", "projections", "or", "statements", "regarding", "future", "earnings", ",", "expenses", ",", "net", "interest", "income", ",", "other", "income", ",", "earnings", "or", "loss", "per", "share", ",", "asset", "mix", "and", "quality", ",", "growth", "prospects", ",", "capital", "structure", ",", "and", "other", "financial", "terms", ",", "(", "b", ")", "statements", "of", "plans", "and", "objectives", "of", "management", "or", "the", "Board", "of", "Directors", ",", "and", "(", "c", ")", "statements", "of", "assumptions", ",", "such", "as", "economic", "conditions", "in", "the", "Corporation", "'s", "market", "areas", ".", "Such", "forward", "-", "looking", "statements", "can", "be", "identified", "by", "the", "use", "of", "forward", "-", "looking", "terminology", "such", "as", "\"", "believes", "\"", ",", "\"", "expects", "\"", ",", "\"", "may", "\"", ",", "\"", "intends", "\"", ",", "\"", "will", "\"", ",", "\"", "should", "\"", ",", "\"", "anticipates", "\"", ",", "or", "the", "negative", "of", "any", "of", "the", "foregoing", "or", "other", "variations", "thereon", "or", "comparable", "terminology", ",", "or", "by", "discussion", "of", "strategy", ".", "Forward", "-", "looking", "statements", "are", "subject", "to", "certain", "risks", "and", "uncertainties", "such", "as", "local", "economic", "conditions", ",", "competitive", "factors", ",", "and", "regulatory", "limitations", ".", "Actual", "results", "may", "differ", "materially", "from", "those", "projected", "in", "the", "forward", "-", "looking", "statements", ".", "Such", "risks", ",", "uncertainties", "and", "other", "factors", "that", "could", "cause", "actual", "results", "and", "experience", "to", "differ", "from", "those", "projected", "include", ",", "but", "are", "not", "limited", "to", ",", "the", "following", ":", "the", "effects", "of", "governmental", "and", "fiscal", "policies", ",", "as", "well", "as", "legislative", "and", "regulatory", "changes", ";", "the", "effects", "of", "new", "laws", "and", "regulations", ",", "specifically", "the", "impact", "of", "the", "Tax", "Cuts", "and", "Jobs", "Act", "and", "the", "Dodd", "-", "Frank", "Wall", "Street", "Reform", "and", "Consumer", "Protection", "Act", ";", "impacts", "of", "the", "capital", "and", "liquidity", "requirements", "of", "the", "Basel", "III", "standards", ";", "the", "effects", "of", "changes", "in", "accounting", "policies", "and", "practices", ",", "as", "may", "be", "adopted", "by", "the", "regulatory", "agencies", ",", "as", "well", "as", "the", "Financial", "Accounting", "Standards", "Board", "and", "other", "accounting", "standard", "setters", ";", "ineffectiveness", "of", "the", "business", "strategy", "due", "to", "changes", "in", "current", "or", "future", "market", "conditions", ";", "future", "actions", "or", "inactions", "of", "the", "United", "States", "government", ",", "including", "the", "effects", "of", "short", "-", "and", "long", "-", "term", "federal", "budget", "and", "tax", "negotiations", "and", "a", "failure", "to", "increase", "the", "government", "debt", "limit", "or", "a", "prolonged", "shutdown", "of", "the", "federal", "government", ";", "the", "effects", "of", "economic", "conditions", "on", "current", "customers", ",", "specifically", "the", "effect", "of", "the", "economy", "on", "loan", "customers", "'", "ability", "to", "repay", "loans", ";", "the", "effects", "of", "competition", ",", "and", "of", "changes", "in", "laws", "and", "regulations", "on", "competition", ",", "including", "industry", "consolidation", "and", "development", "of", "competing", "financial", "products", "and", "services", ";", "the", "risks", "of", "changes", "in", "interest", "rates", "on", "the", "level", "and", "composition", "of", "deposits", ",", "loan", "demand", ",", "and", "the", "values", "of", "loan", "collateral", ",", "securities", ",", "and", "interest", "rate", "protection", "agreements", ",", "as", "well", "as", "interest", "rate", "risks", ";", "difficulties", "in", "acquisitions", "and", "integrating", "and", "operating", "acquired", "business", "operations", ",", "including", "information", "technology", "difficulties", ";", "challenges", "in", "establishing", "and", "maintaining", "operations", "in", "new", "markets", ";", "the", "effects", "of", "technology", "changes", ";", "volatilities", "in", "the", "securities", "markets", ";", "the", "effect", "of", "general", "economic", "conditions", "and", "more", "specifically", "in", "the", "Corporation", "'s", "market", "area", ";", "the", "failure", "of", "assumptions", "underlying", "the", "establishment", "of", "reserves", "for", "loan", "losses", "and", "estimations", "of", "values", "of", "collateral", "and", "various", "financial", "assets", "and", "liabilities", ";", "acts", "of", "war", "or", "terrorism", ";", "disruption", "of", "credit", "and", "equity", "markets", ";", "the", "ability", "to", "manage", "current", "levels", "of", "impaired", "assets", ";", "the", "loss", "of", "certain", "key", "officers", ";", "the", "ability", "to", "maintain", "the", "value", "and", "image", "of", "the", "Corporation", "'s", "brand", "and", "protect", "the", "Corporation", "'s", "intellectual", "property", "rights", ";", "continued", "relationships", "with", "major", "customers", ";", "and", ",", "potential", "impacts", "to", "the", "Corporation", "from", "continually", "evolving", "cybersecurity", "and", "other", "technological", "risks", "and", "attacks", ",", "including", "additional", "costs", ",", "reputational", "damage", ",", "regulatory", "penalties", ",", "and", "financial", "losses", ".", "We", "caution", "readers", "not", "to", "place", "undue", "reliance", "on", "these", "forward", "-", "looking", "statements", ".", "They", "only", "reflect", "management", "'s", "analysis", "as", "of", "this", "date", ".", "The", "Corporation", "does", "not", "revise", "or", "update", "these", "forward", "-", "looking", "statements", "to", "reflect", "events", "or", "changed", "circumstances", ".", "Please", "carefully", "review", "the", "risk", "factors", "described", "in", "other", "documents", "the", "Corporation", "files", "from", "time", "to", "time", "with", "the", "SEC", ",", "including", "the", "Annual", "Reports", "on", "Form", "10", "-", "K", "and", "Quarterly", "Reports", "on", "Form", "10", "-", "Q", ".", "Please", "also", "carefully", "review", "any", "Current", "Reports", "on", "Form", "8", "-", "K", "filed", "by", "the", "Corporation", "with", "the", "SEC", ".", "ACNB", "#", "2020", "-", "1", "January", "13", ",", "2020" ]
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921878-000114420407017809-v070999_ex99-1
EX-99.1 2 v070999_ex99-1.htm Unassociated Document FOR IMMEDIATE RELEASE: FAMILYMEDS COMMENCES SALE OF PHARMACY ASSETS TO WALGREEN CO. FARMINGTON, CT, April 5, 2007 -- Familymeds Group, Inc. (OTCBB: FMRX), a specialty pharmacy and medical specialty product provider, today announced that it began selling its pharmacy assets to Walgreen Co. and Walgreen Eastern Co., pursuant to the asset purchase agreement dated February 14, 2007. Familymeds' shareholders approved the asset sale to Walgreens at its special shareholder meeting held last week at the Company's Farmington offices. The asset purchase agreement is for the sale of up to 53 Familymeds locations, operating under the Familymeds and Arrow Pharmacy and Nutrition Center brands to Walgreens. In consideration, Walgreens will pay approximately $60 million for pharmacy assets, customer accounts receivable and inventories for these locations, subject to adjustment based on closing physical inventory counts. The majority of the locations sold will remain open and continue to operate in place; the remainder will have files and business transferred to a nearby Walgreens location. The Company expects to complete the sale to Walgreens during the second quarter of 2007. Ed Mercadante, Chairman & CEO of Familymeds commented, "Our management team and Walgreens are working together to ensure the smoothest transition possible for our customers without any interruption in service." Mr. Mercadante further commented, "It has been a pleasure working with Walgreens executives during this process. Walgreens has offered positions to, and welcomed, most of our store associates, ensuring not only a familiar presence to our customers, but also avoiding disruption to our staff during this sale". Familymeds also announced today that it has completed several smaller asset deals for certain pharmacy locations, and is continuing in its discussions with other national and regional pharmacy operators to pursue additional opportunities in the coming weeks. The overall plan includes distribution of the proceeds of the Walgreens sale and such other sales to its shareholders following repayment of debt, satisfaction of certain liabilities and associated Company costs. About Familymeds Group, Inc. Familymeds Group, Inc. is a pharmacy and medical specialty product provider formed by the merger on November 12, 2004 of DrugMax, Inc. and Familymeds Group, Inc. Familymeds works closely with doctors, patients, managed care providers, medical centers and employers to improve patient outcomes while delivering low cost and effective healthcare solutions. Familymeds now operates 68 locations, including 7 franchised locations, in 13 states under the Familymeds Pharmacy and Arrow Pharmacy & Nutrition Center brand names; most of the locations in New England area operate under the Arrow Pharmacy brand. The Company also operates Worksite Pharmacy(SM), which provides solutions for major employer groups. The Company also operates Familymeds Medical Specialty a specialty pharmaceutical distribution business directly to physicians and other healthcare providers. The overall Familymeds business platform is designed to provide pharmaceutical services for the treatment of acute and complex health diseases including chronic medical conditions such as cancer, diabetes and pain management. More information can be found at http://www.familymedsgroup.com. The Company's online product offering can be found at http://www.familymeds.com. About Walgreen Company Walgreen Co. (NYSE, NASDAQ: WAG) is the nation's largest drugstore chain with fiscal 2006 sales of $47.4 billion. The company operates 5,675 stores in 48 states and Puerto Rico, including 76 Happy Harry's drugstores in Delaware and surrounding states. Walgreens also provides additional services to pharmacy patients and prescription drug and medical plans through Walgreens Health Services, its managed care division, which includes Walgreens Health Initiatives Inc. (a pharmacy benefits manager), Walgreens Mail Service Inc., Walgreens Home Care Inc. and Walgreens Specialty Pharmacy. Safe Harbor Provisions Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Familymeds Group, Inc., including those contained herein, that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements are statements regarding the intent, belief or current expectations, estimates or projections of the Company, its directors or its officers about the Company and the industry in which it operates. Although Familymeds Group, Inc. believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When used in this report, the words "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates," and similar expressions are generally intended to identify forward-looking statements. Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, management's ability to successfully implement additional asset sale, liquidation and dissolution plans, the ability of Familymeds Group, Inc. to comply with its obligations under agreements governing indebtedness or obtain waivers from lenders in the event of non-compliance, the continued availability of liquidity and capital resources required to complete these transactions, particularly in the event that such transactions require more time than management anticipates, and other factors. Familymeds Group, Inc. disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise. Contact: Cindy Berenson, Familymeds Group, Inc. 860.676.1222 x138; berenson@familymeds.com SOURCE Familymeds Group, Inc. # # #
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"are", "generally", "intended", "to", "identify", "forward", "-", "looking", "statements", ".", "Important", "factors", "that", "could", "cause", "the", "actual", "results", "to", "differ", "materially", "from", "those", "in", "the", "forward", "-", "looking", "statements", "include", ",", "among", "other", "items", ",", "management", "'s", "ability", "to", "successfully", "implement", "additional", "asset", "sale", ",", "liquidation", "and", "dissolution", "plans", ",", "the", "ability", "of", "Familymeds", "Group", ",", "Inc", ".", "to", "comply", "with", "its", "obligations", "under", "agreements", "governing", "indebtedness", "or", "obtain", "waivers", "from", "lenders", "in", "the", "event", "of", "non", "-", "compliance", ",", "the", "continued", "availability", "of", "liquidity", "and", "capital", "resources", "required", "to", "complete", "these", "transactions", ",", "particularly", "in", "the", "event", "that", "such", "transactions", "require", "more", "time", "than", 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1057436-000111667906001881-ex99-1
EX-99 2 ex99-1.htm EX. 99.1: PRESS RELEASE Exhibit 99.1 COMPANY CONTACT: AT FINANCIAL RELATIONS BOARD: James Mead Leslie Loyet Tim Grace Chief Financial Officer Analyst Inquiries Media Inquiries (312) 658-5740 (312) 640-6672 (312) 640-6667 FOR IMMEDIATE RELEASE TUESDAY, AUGUST 8, 2006 STRATEGIC HOTELS & RESORTS CLOSES ON ACQUISITION OF PARTNER'S INTEREST IN INTERCONTINENTAL HOTEL IN PRAGUE Chicago, IL - August 8, 2006 - Strategic Hotels & Resorts, Inc. (NYSE: BEE) today announced that the company closed on its acquisition of a 65.0% interest in the entity that owns the InterContinental Hotel in Prague, Czech Republic, for $68.8 million, from affiliates of GIC Real Estate, Inc. The purchase brings the company's interest in the entity that owns the property to 100%. Including the assumption of $56.5 million in debt, the company's total investment to acquire the 65% interest is $125.3 million. About the Company Strategic Hotels & Resorts, Inc. is a real estate investment trust (REIT) which owns and asset manages high-end hotels and resorts. The company has ownership interests in 19 properties with an aggregate of 9,607 rooms. For further information, please visit the company's website at http://www.strategichotels.com. ###
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1442626-000114420414041961-v383421_ex99-1
EX-99.1 2 v383421_ex99-1.htm EXHIBIT 99.1 Corporate Headquarters 712 Fifth Avenue New York, NY 10019 877.826.BLUE (2583) www.bluerockresidential.com PRESS RELEASE For Immediate Release BRG Closes Investment in Alexan CityCentre, a 340-Unit Class A Development in Houston; Announces Trammell Crow Residential as Development Partner New York, NY (July 8, 2014) - Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) ("BRG" or "the Company") announced today that it has made a convertible preferred equity investment in a joint venture with Trammell Crow Residential ("TCR"), which was formed to develop a Class A rental apartment community known as Alexan CityCentre. Sized at approximately 340 units, the development is centrally located within the Houston, Texas Energy Corridor submarket, adjacent to CityCentre, a prominent 37-acre mixed use development complex encompassing 1.8 million square feet of office, hotel, retail, and residential space. BRG's underwriting projects a trended return on cost for the project of over 7.0% at stabilization, for value creation of 200 to 250 basis points versus sales of comparable multifamily communities in the Houston, Texas area at 4.5% - 5.0%, the Company said. The investment is forecast to generate a 15% AFFO yield during the development phase. BRG expects to invest approximately $6.5 million of preferred equity, and together with affiliates of Bluerock Real Estate LLC, will contribute approximately 90% of the required equity for the development, with the balance contributed by TCR. Once the project is developed and 70% leased, BRG will have a right to convert its preferred equity investment into a control-position common membership interest in the managing member of the joint venture. Pending exercise of this conversion right, BRG will be entitled to a current-pay preferred return on its investment of 15% per year. "TCR is a premier developer and a preferred builder in major markets across the country, with a track record of delivering measurable value, both strategic and operational, to the developments with which it is associated. We are extremely pleased to be able to work with them to bring this project to life", said Ramin Kamfar, Chairman and CEO of BRG. Alexan CityCentre will be situated in close commuting proximity to two West Houston employment nodes: the Energy Corridor, which houses 20.3 million square feet of office space and a reported 84,000 employees, as well as the Westchase District, which has approximately 14.3 million square feet of office space and 82,000 employees. Companies within these employment centers include BP America, Citgo, ConocoPhillips, Dow Chemical, ExxonMobil Chemical, Shell Oil Exploration and Production, Sysco and WorleyParsons, among others. To attract the high income demographic working in the Energy Corridor and Westchase District, and to best leverage its location, the venture plans to build product that is considered high end for the submarket, featuring approximately 277 one-bedroom units and approximately 63 two-bedroom units, averaging 829 square feet. In addition to premium finishes and appliances, the complex will feature high-quality community amenities such as a resort quality pool, state of the art fitness facility, concierge, and business center. The foregoing items were addressed and disclosed by the Company in a Current Report on Form 8-K filed on July 8, 2014 with the Securities and Exchange Commission. About Bluerock Residential Growth REIT, Inc. Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) is a real estate investment trust formed to acquire a diversified portfolio of institutional-quality apartment properties in demographically attractive growth markets throughout the United States. The Company has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes. About Trammell Crow Residential Trammell Crow Residential ("TCR") is a premier multifamily real estate firm whose entities develop, construct and acquire multifamily communities of the highest standard. TCR owns approximately 16,000 apartment units nationwide, with an additional 5,000 new units under construction or planned to begin in 2014. TCR has been in business for more than three decades, and has developed more than 225,000 multifamily units in most major markets across the country. Forward Looking Statements This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward looking statements are statements that are not historical, including statements regarding management's intentions, beliefs, expectations, representations, plans or predictions of the future, and are typically identified by such words as "believe", "expect", "anticipate", "intend", "estimate", "may," "will", "should" and "could." Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward looking statements. These forward looking statements are based upon the Company's present expectations, but these statements are not guaranteed to occur, including the property's ability to attract target renters, management's commentary regarding Trammell Crow's track record, and the attractiveness and implied value of the property. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward looking statements. For further discussion of the factors that could affect outcomes, please refer to discussions of risk factors as detailed in filings by the Company with the Securities and Exchange Commission ("SEC"), including our periodic reports. We claim the safe harbor protection for forward looking statements contained in the Private Securities Litigation Reform Act of 1995. Contact (Media) Josh Hoffman (208) 475.2380 jhoffman@bluerockre.com ##
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1574540-000157454016000100-exhibit991chitranche2press
EX-99.1 2 exhibit991chitranche2press.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 PRESS RELEASE Contact: Physicians Realty Trust John T. Thomas President and CEO (214) 549-6611 jtt@docreit.com Jeffrey N. Theiler Executive Vice President and CFO (414) 367-5610 jnt@docreit.com Physicians Realty Trust Announces Closing of the Second Tranche of the Catholic Health Initiatives Acquisition Announces Record $691 Million of Medical Facility Investments Completed in Second Quarter 2016 CHI Acquisition Highlights: . The Second Tranche of the Catholic Health Initiatives (CHI) Acquisition includes 20 medical office facilities totaling 1,421,500 rentable square feet . 4 additional medical office facilities under executed Purchase and Sale Agreements to be acquired from CHI in the third quarter of 2016, resulting in a final acquired portfolio of 50 properties . 2 properties representing approximately $13 million of investment were removed during the due diligence process Milwaukee, WI - July 5, 2016 - Physicians Realty Trust (NYSE: DOC) (the "Company", the "Trust", "we", "our" and "us"), a self-managed healthcare real estate investment trust, today announced that it has closed the second tranche of its previously announced pending purchase of medical office facilities from Catholic Health Initiatives ("CHI"). The closing of the second tranche, completed between June 2nd and June 30th, included 20 medical office facilities for a purchase price of approximately $305 million. Including the previously announced closing of tranche one, the Company's total investment in CHI affiliated properties acquired to date totals $628 million. John T. Thomas, President and Chief Executive Officer of the Trust, commented, "We have worked closely with our colleagues at Catholic Health Initiatives (CHI) to complete almost all of our investment in these CHI mission-critical medical office buildings. With only a handful of properties left, we are very pleased with the pace at which we have been able to complete this investment for the benefit of our shareholders and to help CHI further their clinical care mission. Except for one project that is currently under construction, we expect the closing of the remainder of the portfolio to occur early in the third quarter of 2016, with all of the previously announced CHI affiliated acquisitions to be completed by the end of the third quarter, but we cannot provide any assurance that these follow-on acquisitions will be completed". Thomas added, "Beyond the CHI investments, we completed several additional acquisitions this quarter, as summarized below. These were primarily off-market acquisitions of facilities leased to or affiliated with existing healthcare system clients. Of note, we have already been able to capitalize on our newly formed CHI relationship with these additional acquisitions, by purchasing a 100% CHI-leased connecting building of one of our KentuckyOne CHI assets in Louisville, KY directly from its physician owners". Thomas concluded, "This is by far the largest quarter for investments by Physicians Realty Trust. As we approach our third anniversary this month, we are very pleased with the growth and quality of cash flow we have produced for our shareholders. The stable foundation we have built includes more than $2.5 billion in real estate assets, containing approximately 10 million square feet, with industry-leading occupancy. We look forward to sharing more details with our second quarter earnings and filings". Investment Update In addition to the CHI Acquisitions detailed above, the Company has completed acquisitions of 6 healthcare properties containing an aggregate of 165,625 net rentable square feet since our May 5, 2016 press release. These investments total approximately $43.5 million. The Company also entered into one mezzanine loan for $1.3 million. About Physicians Realty Trust Physicians Realty Trust is a self-managed healthcare real estate company organized to acquire, selectively develop, own and manage healthcare properties that are leased to physicians, hospitals and healthcare delivery systems. The Company invests in real estate that is integral to providing high quality healthcare. The Company conducts its business through an UPREIT structure in which its properties are owned by Physicians Realty L.P., a Delaware limited partnership (the "operating partnership"), directly or through limited partnerships, limited liability companies or other subsidiaries. The Company is the sole general partner of the operating partnership and, as of March 31, 2016, owned approximately 96.5% of the partnership interests in our operating partnership ("OP Units"). Investors are encouraged to visit the Investor Relations portion of the Company's website (www.docreit.com) for additional information, including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, press releases, supplemental information packages and investor presentations. Forward-Looking Statements This press release contains statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward looking statements may include statements regarding the Company's strategic and operational plans, the Company's ability to generate internal and external growth, the future outlook, anticipated cash returns, cap rates or yields on properties, anticipated closing of property acquisitions, and ability to execute its business plan. While forward-looking statements reflect our good faith beliefs, they are not guarantees of future performance. Forward looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward looking statements are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. These forward-looking statements are subject to various risks and uncertainties, not all of which are known to the Company and many of which are beyond the Company's control, which could cause actual results to differ materially from such statements. These risks and uncertainties are described in greater detail in the Company's filings with the Securities and Exchange Commission (the "Commission"), including, without limitation, the Company's annual and periodic reports and other documents filed with the Commission. Unless legally required, the Company disclaims any obligation to update any forward-looking statements after the date of this release, whether as a result of new information, future events or otherwise. For a description of factors that may cause the Company's actual results or performance to differ from its forward-looking statements, please review the information under the heading "Risk Factors" included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2015 filed by the Company with the Commission on February 29, 2016. Source: Physicians Realty Trust
[ "EX", "-", "99", ".", "1", "2", "exhibit991chitranche2press", ".", "htm", "EXHIBIT", "99", ".", "1", "Exhibit", "Exhibit", "99", ".", "1", "PRESS", "RELEASE", "Contact", ":", "Physicians", "Realty", "Trust", "John", "T.", "Thomas", "President", "and", "CEO", "(", "214", ")", "549", "-", "6611", "jtt@docreit.com", "Jeffrey", "N", ".", "Theiler", "Executive", "Vice", "President", "and", "CFO", "(", "414", ")", "367", "-", "5610", "jnt@docreit.com", "Physicians", "Realty", "Trust", "Announces", "Closing", "of", "the", "Second", "Tranche", "of", "the", "Catholic", "Health", "Initiatives", "Acquisition", "Announces", "Record", "$", "691 Million", "of", "Medical", "Facility", "Investments", "Completed", "in", "Second", "Quarter", "2016", "CHI", "Acquisition", "Highlights", ":", ".", "The", "Second", "Tranche", "of", "the", "Catholic", "Health", "Initiatives", "(", "CHI", ")", "Acquisition", "includes", "20", "medical", "office", "facilities", "totaling", "1,421,500", "rentable", "square", "feet", ".", "4", "additional", "medical", "office", "facilities", "under", "executed", "Purchase", "and", "Sale", "Agreements", "to", "be", "acquired", "from", "CHI", "in", "the", "third", "quarter", "of", "2016", ",", "resulting", "in", "a", "final", "acquired", "portfolio", "of", "50", "properties", ".", "2", "properties", "representing", "approximately", "$", "13 million", "of", "investment", "were", "removed", "during", "the", "due", "diligence", "process", "Milwaukee", ",", "WI", "-", "July", "5", ",", "2016", "-", "Physicians", "Realty", "Trust", "(", "NYSE", ":", "DOC", ")", "(", "the", "\"", "Company", "\"", ",", "the", "\"", "Trust", "\"", ",", "\"", "we", "\"", ",", "\"", "our", "\"", "and", "\"", "us", "\"", ")", ",", "a", "self", "-", "managed", "healthcare", "real", "estate", "investment", "trust", ",", "today", "announced", "that", "it", "has", "closed", "the", "second", "tranche", "of", "its", "previously", "announced", "pending", "purchase", "of", "medical", "office", "facilities", "from", "Catholic", "Health", "Initiatives", "(", "\"", "CHI", "\"", ")", ".", "The", "closing", "of", "the", "second", "tranche", ",", "completed", "between", "June", "2", "nd", "and", "June", "30", "th", ",", "included", "20", "medical", "office", "facilities", "for", "a", "purchase", "price", "of", "approximately", "$", "305 million", ".", "Including", "the", "previously", "announced", "closing", "of", "tranche", "one", ",", "the", "Company", "'s", "total", "investment", "in", "CHI", "affiliated", "properties", "acquired", "to", "date", "totals", "$", "628 million", ".", "John", "T.", "Thomas", ",", "President", "and", "Chief", "Executive", "Officer", "of", "the", "Trust", ",", "commented", ",", "\"", "We", "have", "worked", "closely", "with", "our", "colleagues", "at", "Catholic", "Health", "Initiatives", "(", "CHI", ")", "to", "complete", "almost", "all", "of", "our", "investment", "in", "these", "CHI", "mission", "-", "critical", "medical", "office", "buildings", ".", "With", "only", "a", "handful", "of", "properties", "left", ",", "we", "are", "very", "pleased", "with", "the", "pace", "at", "which", "we", "have", "been", "able", "to", "complete", "this", "investment", "for", "the", "benefit", "of", "our", "shareholders", "and", "to", "help", "CHI", "further", "their", "clinical", "care", "mission", ".", "Except", "for", "one", "project", "that", "is", "currently", "under", "construction", ",", "we", "expect", "the", "closing", "of", "the", "remainder", "of", "the", "portfolio", "to", "occur", "early", "in", "the", "third", "quarter", "of", "2016", ",", "with", "all", "of", "the", "previously", "announced", "CHI", "affiliated", "acquisitions", "to", "be", "completed", "by", "the", "end", "of", "the", "third", "quarter", ",", "but", "we", "can", "not", "provide", "any", "assurance", "that", "these", "follow", "-", "on", "acquisitions", "will", "be", "completed", "\"", ".", "Thomas", "added", ",", "\"", "Beyond", "the", "CHI", "investments", ",", 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"the", "growth", "and", "quality", "of", "cash", "flow", "we", "have", "produced", "for", "our", "shareholders", ".", "The", "stable", "foundation", "we", "have", "built", "includes", "more", "than", "$", "2.5 billion", "in", "real", "estate", "assets", ",", "containing", "approximately", "10 million", "square feet", ",", "with", "industry", "-", "leading", "occupancy", ".", "We", "look", "forward", "to", "sharing", "more", "details", "with", "our", "second", "quarter", "earnings", "and", "filings", "\"", ".", "Investment", "Update", "In", "addition", "to", "the", "CHI", "Acquisitions", "detailed", "above", ",", "the", "Company", "has", "completed", "acquisitions", "of", "6", "healthcare", "properties", "containing", "an", "aggregate", "of", "165,625", "net", "rentable", "square", "feet", "since", "our", "May", "5", ",", "2016", "press", "release", ".", "These", "investments", "total", "approximately", "$", "43.5 million", ".", "The", "Company", "also", "entered", "into", "one", 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911421-000095010309002588-dp15144_ex9901
EX-99.1 2 dp15144_ex9901.htm EXHIBIT 99.1 Exhibit 99.1 Press Release PartnerRe Ltd. Announces Successful Closing of Block Purchase of PARIS RE Shares Bringing Total Ownership to 83% PEMBROKE, Bermuda--(BUSINESS WIRE)--Oct. 4, 2009-- PartnerRe Ltd. (NYSE:PRE) today announced the successful closing of its previously announced block purchase of common shares of PARIS RE Holdings Limited (Euronext:PRI), the French-listed, Swiss-based diversified reinsurer. As of the close of business on October 2, 2009, PartnerRe had acquired in the block purchase approximately 71% of the outstanding PARIS RE shares, with an additional 6% of the outstanding PARIS RE shares subject to physical settlement in the coming days. Following the settlement of these trades, PartnerRe's total shareholding of PARIS RE will increase to 83%, which includes PartnerRe's previously announced acquisition of 6% of the outstanding PARIS RE shares. PartnerRe President & CEO Patrick Thiele said, "The closing of this block purchase is an important milestone in our acquisition of PARIS RE. With this level of ownership, we take control of the PARIS RE Board of Directors through the appointment of six directors, all of whom are existing PartnerRe management. This Board majority allows us a greater role in setting policy and monitoring risk aggregation. However, there is no change in our strategy for January 1, 2010 renewals; the companies will renew their business separately, under their current plans and guidelines". Mr. Thiele added, "The acquisition process has gone more quickly and smoothly than was initially anticipated and we are optimistic that the remaining steps will be completed by year-end. This is due in no small part to the hard work and cooperation shown by the employees of both organizations". As recently announced, PartnerRe will pursue a merger vote in lieu of a voluntary exchange offer, which is expected to expedite PartnerRe's acquisition of PARIS RE, while keeping unchanged the consideration granted to PARIS RE shareholders. PartnerRe also announced that in closing the block purchase, it has received all necessary approvals of insurance and competition regulatory authorities. It is expected that PARIS RE will call a meeting of its shareholders to vote on a proposal to effect a merger, governed by Swiss law, of PARIS RE into a wholly-owned subsidiary of PartnerRe. The merger, when approved by the holders of at least 90% of all outstanding PARIS RE voting rights, is expected to become effective in December 2009. PartnerRe is a leading global reinsurer, providing multi-line reinsurance to insurance companies. The Company through its wholly owned subsidiaries also offers alternative risk products that include weather and credit protection to financial, industrial and service companies. Risks reinsured include property, casualty, motor, agriculture, aviation/space, catastrophe, credit/surety, engineering, energy, marine, specialty property, specialty casualty, other lines, life/annuity and health, and alternative risk products. For the year ended December 31, 2008, total revenues were $4.0 billion. At June 30, 2009, total assets were $17.0 billion, total capital was $5.3 billion and total shareholders' equity was $4.8 billion. PartnerRe on the Internet: www.partnerre.com Forward-looking statements contained in this press release are based on the Company's assumptions and expectations concerning future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. PartnerRe's forward-looking statements could be affected by numerous foreseeable and unforeseeable events and developments such as exposure to catastrophe, or other large property and casualty losses, adequacy of reserves, risks associated with implementing business strategies and integrating new acquisitions, levels and pricing of new and renewal business achieved, credit, interest, currency and other risks associated with the Company's, PARIS RE's, or the combined company's investment portfolio, changes in accounting policies, the risk that a condition to the closing of the proposed transaction with PARIS RE may not be satisfied, the risk that a regulatory approval that may be required for the proposed transaction is not obtained or is obtained subject to conditions that are not anticipated, failure to consummate or delay in consummating the proposed transaction for other reasons, and other factors identified in the Company's filings with the Securities and Exchange Commission. In light of the significant uncertainties inherent in the forward-looking information contained herein, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made. The Company disclaims any obligation to publicly update or revise any forward-looking information or statements. Source: PartnerRe Ltd. PartnerRe Ltd. Investor: Robin Sidders, 441-292-0888 or Media: Celia Powell, 441-292-0888 or Sard Verbinnen & Co. Drew Brown/Jane Simmons, 212-687-8080 The information on this and any other page of the PartnerRe web site is provided subject to the terms of our User Agreement and Disclaimer which is accessed by clicking the link at the bottom of this page. Copyright 2009
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"PARIS", "RE", "shares", ",", "with", "an", "additional", "6", "%", "of", "the", "outstanding", "PARIS", "RE", "shares", "subject", "to", "physical", "settlement", "in", "the", "coming", "days", ".", "Following", "the", "settlement", "of", "these", "trades", ",", "PartnerRe", "'s", "total", "shareholding", "of", "PARIS", "RE", "will", "increase", "to", "83", "%", ",", "which", "includes", "PartnerRe", "'s", "previously", "announced", "acquisition", "of", "6", "%", "of", "the", "outstanding", "PARIS", "RE", "shares", ".", "PartnerRe", "President", "&", "CEO", "Patrick", "Thiele", "said", ",", "\"", "The", "closing", "of", "this", "block", "purchase", "is", "an", "important", "milestone", "in", "our", "acquisition", "of", "PARIS", "RE", ".", "With", "this", "level", "of", "ownership", ",", "we", "take", "control", "of", "the", "PARIS", "RE", "Board", "of", "Directors", "through", "the", "appointment", "of", "six", "directors", ",", "all", "of", "whom", "are", "existing", "PartnerRe", 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"vote", "in", "lieu", "of", "a", "voluntary", "exchange", "offer", ",", "which", "is", "expected", "to", "expedite", "PartnerRe", "'s", "acquisition", "of", "PARIS", "RE", ",", "while", "keeping", "unchanged", "the", "consideration", "granted", "to", "PARIS", "RE", "shareholders", ".", "PartnerRe", "also", "announced", "that", "in", "closing", "the", "block", "purchase", ",", "it", "has", "received", "all", "necessary", "approvals", "of", "insurance", "and", "competition", "regulatory", "authorities", ".", "It", "is", "expected", "that", "PARIS", "RE", "will", "call", "a", "meeting", "of", "its", "shareholders", "to", "vote", "on", "a", "proposal", "to", "effect", "a", "merger", ",", "governed", "by", "Swiss", "law", ",", "of", "PARIS", "RE", "into", "a", "wholly", "-", "owned", "subsidiary", "of", "PartnerRe", ".", "The", "merger", ",", "when", "approved", "by", "the", "holders", "of", "at", "least", "90", "%", "of", "all", "outstanding", "PARIS", "RE", "voting", "rights", ",", "is", 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1011060-000121390020002787-f8k013120ex99-1_advansource
EX-99.1 2 f8k013120ex99-1_advansource.htm PRESS RELEASE DATED FEBRUARY 3, 2020 Exhibit 99.1 AdvanSource Biomaterials Corporation Announces Completion of the Sale of Substantially All of its Assets to a Subsidiary of Mitsubishi Chemical America WILMINGTON, Mass, Feb. 03, 2020 (GLOBE NEWSWIRE) -- AdvanSource Biomaterials Corporation (OTC: ASNB) ("AdvanSource" or the "Company"), a materials technology company specializing in medical grade polymers for long and short term applications, announced today that on Friday, January 31, 2020, substantially all of its assets were sold to Mitsubishi Chemical Performance Polymers, Inc. ("Mitsubishi Chemical Performance Polymers" or "MCPP"). As previously announced, AdvanSource entered into an Asset Purchase Agreement with MCPP, a subsidiary of Mitsubishi Chemical America, Inc. and its shareholder, Mitsubishi Chemical Corporation, to sell substantially all of its assets to Mitsubishi Chemical Performance Polymers for a price of $7.25 million in cash (the "Transaction"). "The successful completion of this transaction offers our shareholders a meaningful premium", said Michael Adams, CEO of AdvanSource. "We anticipate issuing a shareholder dividend in the near future". The description of the Transaction contained herein is only a summary and is qualified in its entirety by reference to the Asset Purchase Agreement relating to the Transaction, a copy of which was filed by AdvanSource with the Securities and Exchange Commission (the "SEC") as an exhibit to a Current Report on Form 8-K filed on December 2, 2019. About AdvanSource AdvanSource develops advanced polymer materials which provide critical characteristics in the design and development of medical devices. Its biomaterials are used in devices that are designed for treating a broad range of anatomical sites and disease states. Its business model leverages proprietary materials science technology and manufacturing expertise in order to expand product sales and royalty and license fee income. AdvanSource's technology, notably products such as ChronoFlex®, HydroMed™, and HydroThane™, have been developed to overcome a wide range of design and functional challenges, such as the need for dimensional stability, ease of manufacture and demanding physical properties to overcoming environmental stress cracking and providing heightened lubricity for ease of insertion. AdvanSource's new product extensions customize proprietary polymers for specific customer applications in a wide range of device categories. About Mitsubishi Chemical Performance Polymers Mitsubishi Chemical Performance Polymers, Inc. is a specialty chemical company and direct subsidiary of Mitsubishi Chemical America, Inc., the regional headquarters in North America of Mitsubishi Chemical Corporation. The Mitsubishi Chemical group of companies operates over 350 affiliates in more than 30 countries, with annual revenue in excess of $24 billion. Leveraging its affiliates' manufacturing capabilities and expertise in R&D, sales, and marketing, MCPP seeks to innovate in compounding polymerization and polymer modification technologies for the 21st century, with a view towards sustainability practices in a circular economy. MCPP operates facilities in Bellevue, Ohio, Warren, Michigan, Greer, South Carolina, and Brazil. MCPP's product portfolio includes: Tefabloc™, Thermorun™, Trexprene™ and Zelas™ thermoplastic elastomers; Modic™ functional polyolefins; Linklon™ cross-linked polyolefins; Olefista™ non-halogenated fire retardant polyolefins; Marfyflo™, Sunprene™, and Vinika™ polyvinylchloride elastomers; and BIOPBS™, DURABIO™, and Forzeas™ bio-sustainable thermoplastic resins. MCPP's products and expertise are used in a wide variety of specialized commercial applications in the packaging, construction, wire & cable, consumer, medical, 3d printing, and automotive industries. Advisor and Counsel In connection with this transaction, Mirus Securities is acting as financial advisor and Ellenoff Grossman & Schole LLP is acting as legal advisor to AdvanSource. Winston & Strawn LLP is acting as legal advisor to Mitsubishi Chemical Performance Polymers. Cautionary Note Regarding Forward-Looking Statements Some of the statements in this release are or may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections presented or implied and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "believe", "expect," "anticipate", "project", "target", "optimistic", "intend", "aim," "will", "may" and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements relating to the Transaction include, but are not limited to: (i) statements about the benefits of the Transaction; (ii) Mitsubishi Chemical Performance Polymers' plans, objectives, expectations and intentions; and (iii) the expected timing of a post-closing dividend. Forward-looking statements involve estimates, expectations and projections and, as a result, are subject to risks and uncertainties, many of which are beyond AdvanSource's control. Actual results could differ materially if not substantially from those described in the forward-looking statements. 2 Important risks and other factors could cause actual results to differ materially from those indicated by such forward-looking statements. With respect to the Transaction, such risks and uncertainties include, among many others: (i) the risk that the benefits to AdvanSource and its stockholders anticipated from Transaction may not be fully realized or may take longer to realize than expected; (ii) the outcome of any legal proceedings related to the Transaction; or (iii) any of the factors in detailed in the "Risk Factors" section of AdvanSource's filings with the SEC. The foregoing listing of risks is not exhaustive. These risks, as well as other risks associated with the Transaction, are more fully discussed in AdvanSource's definitive proxy statement in connection with the transaction, which was filed with the SEC on December 31, 2019 (the "Proxy Statement"). Additional risks and uncertainties are identified and discussed in AdvanSource's reports filed or to be filed with the SEC, including its Form 10-K, as amended, for the fiscal year ended December 31, 2018, and the Proxy Statement, and are available at the SEC's website at http://www.sec.gov. Forward-looking statements included in this press release speak only as of the date of this press release. AdvanSource undertakes and assumes no obligation, and does not intend, to update AdvanSource's forward-looking statements, except as required by law. Contacts AdvanSource Biomaterials Corporation Michael F. Adams President and Chief Executive Officer 978-657-0075 Ext 156 3
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1353487-000149315219002698-ex99-1
EX-99.1 3 ex99-1.htm News Release Investor Contacts: Andrew Gibson Edison Group taronis@edisongroup.com Taronis Acquires Los Angeles-Based Industrial Gas Distributor Taronis Adds $4.5 Million in Annual Revenue, now a Top Five Player in the Two Largest Metal Cutting Fuel Markets in the US TAMPA, FL - February 26, 2019 - Taronis Technologies, Inc. ("Taronis" or "the Company") (NASDAQ: TRNX), a leading clean technology company in the renewable resources and environmental conservation industry, today announced that the Company has completed the acquisition of one of the largest independently owned industrial gas distributors in Los Angeles, CA. The acquired company generates approximately $4.5 million in annual sales, and has five retail locations across the Los Angeles metro market. The acquired company also sells industrial gases and welding supply products into the Mexican markets in Baja California and Sonora, through a relationship with one of the largest independent industrial gas operators in the region. The transaction was structured as an asset purchase, with a cash purchase price of $2.5 million. This transaction effectively completes the initial phase and business objectives of the Company's acquisition program initiated in early 2017. These objectives were originally as follows: ● Establish a top five independent industrial gas business in the two largest industrial gas markets in the United States ● Generate sufficient customer interest to support new Taronis production facilities in East Texas, Northern California and Southern California ● Leverage our proprietary, patented technology to grow our market position to at least $100 million in approximately five years ● Establish a clear operational vision supporting the ability to further grow each market to at least $100 million within approximately ten years, and selectively expand the regional footprint to support a combined $250 million US industrial gas business ● Increase the Company's revenue base to a level that creates a clear and imminent path to cash flow positive operations ● Expand the Company's access to capital, particularly the bank debt markets, to effectively leverage our balance sheet and enhance the potential return on equity for shareholders ● Leverage that platform of financial scale and stability to fund international expansion, to fund further research and development for renewable fuel products, and to launch a scalable water decontamination business "This acquisition is the final milestone in first phase of our initial business plan set forth in early 2017", commented Scott Mahoney, Chief Executive Officer of Taronis Technologies. "Two years ago, our Board established a series of business objectives. This plan required making a series of carefully selected acquisitions in California and Texas that would enable our Company to become a top five independent competitor in the most attractive markets in the US today for industrial gases. With this transaction, we have completed that critical goal". Mr. Mahoney continued, "After completing nine acquisitions in the past thirteen months, we have increased our revenue run rate by approximately 800%, and believe that we can now reduce our acquisition rate. Our goal was to quickly reach a scale that could sustainably fund our research and development efforts, our corporate overhead, and create a largely self-funded business model. We chose to take this path because we felt it would be a much more cost effective and efficient method of penetrating extremely competitive markets as compared to a much slower, more costly path through organic expansion. And as a result, we accomplished in a little over one year what could have taken more than twenty years to do organically". Mr. Mahoney concluded, "We are now able to shift much of our operational focus to the deployment of our metal cutting fuel production capabilities across Texas and California. Our goal is to convert all of our traditional metal cutting fuel clients to our patented MagneGas metal cutting fuel product. We produce the only renewable metal cutting fuel in the world, and believe it is a vastly superior product. We believe in our cleaner, safer, smarter solution, and we intend to aggressively demonstrate these benefits to our clients and the broader market in 2019 and beyond". About Taronis Technologies, Inc. Taronis Technologies, Inc. (TRNX) owns a patented plasma arc technology that enables two primary end use applications for fuel generation and water decontamination. The Company's fuel technology enables a wide use of hydrocarbon feedstocks to be readily converted to fossil fuel substitutes. The Company is developing a wide range of end market uses for these fuels, including replacement products for propane, compressed natural gas and liquid natural gas. The Company currently markets a proprietary metal cutting fuel that is highly competitive with acetylene. The Company distributes its proprietary metal cutting fuel through Independent Distributors in the U.S and through its wholly owned distributors: ESSI, Green Arc Supply, Paris Oxygen, Latex Welding Supplies, Tyler Welders Supply, United Welding Supplies, Trico Welding Supply and Complete Welding of San Diego. The Company operates 17 locations across California, Texas, Louisiana, and Florida. The Company's technology can also be implemented for the decontamination of waste water, including sterilizing water, eradicating all pathogens. The technology is being tested to determine if it can completely eliminate pharmaceutical contaminants such as antibiotics, hormones and other soluble drugs suspended in contaminated water. Lastly, the technology process is capable of reducing or eliminating other contaminants, such as harmful metals, as well as nitrogen, phosphorus, and potassium levels that trigger toxic algae blooms. The technology has prospective commercial applications in the agricultural, pharmaceutical, and municipal waste markets. For more information on Taronis, please visit the Company's website at http://www.TaronisTech.com . FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.
[ "EX", "-", "99", ".", "1", "3", "ex99", "-", "1", ".", "htm", "News", "Release", "Investor", "Contacts", ":", "Andrew", "Gibson", "Edison", "Group", "taronis@edisongroup.com", "Taronis", "Acquires", "Los", "Angeles", "-", "Based", "Industrial", "Gas", "Distributor", "Taronis", "Adds", "$", "4.5 Million", "in", "Annual", "Revenue", ",", "now", "a", "Top", "Five", "Player", "in", "the", "Two", "Largest", "Metal", "Cutting", "Fuel", "Markets", "in", "the", "US", "TAMPA", ",", "FL", "-", "February", "26", ",", "2019", "-", "Taronis", "Technologies", ",", "Inc", ".", "(", "\"", "Taronis", "\"", "or", "\"", "the", "Company", "\"", ")", "(", "NASDAQ", ":", "TRNX", ")", ",", "a", "leading", "clean", "technology", "company", "in", "the", "renewable", "resources", "and", "environmental", "conservation", "industry", ",", "today", "announced", "that", "the", "Company", "has", "completed", "the", "acquisition", "of", "one", "of", "the", "largest", "independently", "owned", "industrial", "gas", "distributors", "in", "Los", "Angeles", ",", "CA", ".", "The", "acquired", "company", "generates", "approximately", "$", "4.5 million", "in", "annual", "sales", ",", "and", "has", "five", "retail", "locations", "across", "the", "Los", "Angeles", "metro", "market", ".", "The", "acquired", "company", "also", "sells", "industrial", "gases", "and", "welding", "supply", "products", "into", "the", "Mexican", "markets", "in", "Baja", "California", "and", "Sonora", ",", "through", "a", "relationship", "with", "one", "of", "the", "largest", "independent", "industrial", "gas", "operators", "in", "the", "region", ".", "The", "transaction", "was", "structured", "as", "an", "asset", "purchase", ",", "with", "a", "cash", "purchase", "price", "of", "$", "2.5 million", ".", "This", "transaction", "effectively", "completes", "the", "initial", "phase", "and", "business", "objectives", "of", "the", "Company", "'s", "acquisition", "program", "initiated", "in", "early", "2017", ".", "These", "objectives", "were", "originally", "as", "follows", ":", "●", "Establish", "a", "top", "five", "independent", "industrial", "gas", "business", "in", "the", "two", "largest", "industrial", "gas", "markets", "in", "the", "United", "States", "●", "Generate", "sufficient", "customer", "interest", "to", "support", "new", "Taronis", "production", "facilities", "in", "East", "Texas", ",", "Northern", "California", "and", "Southern", "California", "●", "Leverage", "our", "proprietary", ",", "patented", "technology", "to", "grow", "our", "market", "position", "to", "at", "least", "$", "100 million", "in", "approximately", "five", "years", "●", "Establish", "a", "clear", "operational", "vision", "supporting", "the", "ability", "to", "further", "grow", "each", "market", "to", "at", "least", "$", "100 million", "within", "approximately", "ten", "years", ",", "and", "selectively", "expand", "the", "regional", "footprint", "to", "support", "a", "combined", "$", "250 million", "US", "industrial", "gas", "business", "●", "Increase", "the", "Company", "'s", "revenue", "base", "to", "a", "level", "that", "creates", "a", "clear", "and", "imminent", "path", "to", "cash", "flow", "positive", "operations", "●", "Expand", "the", "Company", "'s", "access", "to", "capital", ",", "particularly", "the", "bank", "debt", "markets", ",", "to", "effectively", "leverage", "our", "balance", "sheet", "and", "enhance", "the", "potential", "return", "on", "equity", "for", "shareholders", "●", "Leverage", "that", "platform", "of", "financial", "scale", "and", "stability", "to", "fund", "international", "expansion", ",", "to", "fund", "further", "research", "and", "development", "for", "renewable", "fuel", "products", ",", "and", "to", "launch", "a", "scalable", "water", "decontamination", "business", "\"", "This", "acquisition", "is", "the", "final", "milestone", "in", "first", "phase", "of", "our", "initial", "business", "plan", "set", "forth", "in", "early", "2017", "\"", ",", "commented", "Scott", "Mahoney", ",", "Chief", "Executive", "Officer", "of", "Taronis", "Technologies", ".", "\"", "Two", "years", "ago", ",", "our", "Board", "established", "a", "series", "of", "business", "objectives", ".", "This", "plan", "required", "making", "a", "series", "of", "carefully", "selected", "acquisitions", "in", "California", "and", "Texas", "that", "would", "enable", "our", "Company", "to", "become", "a", "top", "five", "independent", "competitor", "in", "the", "most", "attractive", "markets", "in", "the", "US", "today", "for", "industrial", "gases", ".", "With", "this", "transaction", ",", "we", "have", "completed", "that", "critical", "goal", "\"", ".", "Mr", ".", "Mahoney", "continued", ",", "\"", "After", "completing", "nine", "acquisitions", "in", "the", "past", "thirteen", "months", ",", "we", "have", "increased", "our", "revenue", "run", "rate", "by", "approximately", "800", "%", ",", "and", "believe", "that", "we", "can", "now", "reduce", "our", "acquisition", "rate", ".", "Our", "goal", "was", "to", "quickly", "reach", "a", "scale", "that", "could", "sustainably", "fund", "our", "research", "and", "development", "efforts", ",", "our", "corporate", "overhead", ",", "and", "create", "a", "largely", "self", "-", "funded", "business", "model", ".", "We", "chose", "to", "take", "this", "path", "because", "we", "felt", "it", "would", "be", "a", "much", "more", "cost", "effective", "and", "efficient", "method", "of", "penetrating", "extremely", "competitive", "markets", "as", "compared", "to", "a", "much", "slower", ",", "more", "costly", "path", "through", "organic", "expansion", ".", "And", "as", "a", "result", ",", "we", "accomplished", "in", "a", "little", "over", "one", "year", "what", "could", "have", "taken", "more", "than", "twenty", "years", "to", "do", "organically", "\"", ".", "Mr", ".", "Mahoney", "concluded", ",", "\"", "We", "are", "now", "able", "to", "shift", "much", "of", "our", "operational", "focus", "to", "the", "deployment", "of", "our", "metal", "cutting", "fuel", "production", "capabilities", "across", "Texas", "and", "California", ".", "Our", "goal", "is", "to", "convert", "all", "of", "our", "traditional", "metal", "cutting", "fuel", "clients", "to", "our", "patented", "MagneGas", "metal", "cutting", "fuel", "product", ".", "We", "produce", "the", "only", "renewable", "metal", "cutting", "fuel", "in", "the", "world", ",", "and", "believe", "it", "is", "a", "vastly", "superior", "product", ".", "We", "believe", "in", "our", "cleaner", ",", "safer", ",", "smarter", "solution", ",", "and", "we", "intend", "to", "aggressively", "demonstrate", "these", "benefits", "to", "our", "clients", "and", "the", "broader", "market", "in", "2019", "and", "beyond", "\"", ".", "About", "Taronis", "Technologies", ",", "Inc", ".", "Taronis", "Technologies", ",", "Inc", ".", "(", "TRNX", ")", "owns", "a", "patented", "plasma", "arc", "technology", "that", "enables", "two", "primary", "end", "use", "applications", "for", "fuel", "generation", "and", "water", "decontamination", ".", "The", "Company", "'s", "fuel", "technology", "enables", "a", "wide", "use", "of", "hydrocarbon", "feedstocks", "to", "be", "readily", "converted", "to", "fossil", "fuel", "substitutes", ".", "The", "Company", "is", "developing", "a", "wide", "range", "of", "end", "market", "uses", "for", "these", "fuels", ",", "including", "replacement", "products", "for", "propane", ",", "compressed", "natural", "gas", "and", "liquid", "natural", "gas", ".", "The", "Company", "currently", "markets", "a", "proprietary", "metal", "cutting", "fuel", "that", "is", "highly", "competitive", "with", "acetylene", ".", "The", "Company", "distributes", "its", "proprietary", "metal", "cutting", "fuel", "through", "Independent", "Distributors", "in", "the", "U", ".", "S", "and", "through", "its", "wholly", "owned", "distributors", ":", "ESSI", ",", "Green", "Arc", "Supply", ",", "Paris", "Oxygen", ",", "Latex", "Welding", "Supplies", ",", "Tyler", "Welders", "Supply", ",", "United", "Welding", "Supplies", ",", "Trico", "Welding", "Supply", "and", "Complete", "Welding", "of", "San", "Diego", ".", "The", "Company", "operates", "17", "locations", "across", "California", ",", "Texas", ",", "Louisiana", ",", "and", "Florida", ".", "The", "Company", "'s", "technology", "can", "also", "be", "implemented", "for", "the", "decontamination", "of", "waste", "water", ",", "including", "sterilizing", "water", ",", "eradicating", "all", "pathogens", ".", "The", "technology", "is", "being", "tested", "to", "determine", "if", "it", "can", "completely", "eliminate", "pharmaceutical", "contaminants", "such", "as", "antibiotics", ",", "hormones", "and", "other", "soluble", "drugs", "suspended", "in", "contaminated", "water", ".", "Lastly", ",", "the", "technology", "process", "is", "capable", "of", "reducing", "or", "eliminating", "other", "contaminants", ",", "such", "as", "harmful", "metals", ",", "as", "well", "as", "nitrogen", ",", "phosphorus", ",", "and", "potassium", "levels", "that", "trigger", "toxic", "algae", "blooms", ".", "The", "technology", "has", "prospective", "commercial", "applications", "in", "the", "agricultural", ",", "pharmaceutical", ",", "and", "municipal", "waste", "markets", ".", "For", "more", "information", "on", "Taronis", ",", "please", "visit", "the", "Company", "'s", "website", "at", "http://www.TaronisTech.com", ".", "FORWARD", "-", "LOOKING", "STATEMENTS", "This", "press", "release", "contains", "forward", "-", "looking", "statements", "as", "defined", "within", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", ",", "as", "amended", ",", "and", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", ".", "These", "statements", "relate", "to", "future", "events", ",", "including", "our", "ability", "to", "raise", "capital", ",", "or", "to", "our", "future", "financial", "performance", ",", "and", "involve", "known", "and", "unknown", "risks", ",", 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"to", "future", "events", "and", "is", "subject", "to", "these", "and", "other", "risks", ",", "uncertainties", "and", "assumptions", "relating", "to", "our", "operations", ",", "results", "of", "operations", ",", "growth", "strategy", "and", "liquidity", ".", "We", "assume", "no", "obligation", "to", "publicly", "update", "or", "revise", "these", "forward", "-", "looking", "statements", "for", "any", "reason", ",", "or", "to", "update", "the", "reasons", "actual", "results", "could", "differ", "materially", "from", "those", "anticipated", "in", "these", "forward", "-", "looking", "statements", ",", "even", "if", "new", "information", "becomes", "available", "in", "the", "future", ".", "For", "a", "discussion", "of", "these", "risks", "and", "uncertainties", ",", "please", "see", "our", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "Our", "public", "filings", "with", "the", "SEC", "are", "available", "from", "commercial", "document", "retrieval", 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1061288-000090901212000172-exh99-1
EX-99.1 2 exh99-1.txt PR EXHIBIT 99.1 PRESS RELEASE AUSTRALIAN-CANADIAN OIL ROYALTIES LTD. (OTCBB: AUCAF) ACOR ANNOUNCES CLOSING OF SURAT BASIN ASSETS, SECOND TRANCHE OF FINANCING AT $0.35 PER SHARE AND PROVIDES CORPORATE UPDATE FOR IMMEDIATE RELEASE CISCO, TX, MARCH 1, 2012 -Australian-Canadian Oil Royalties Ltd. (OTCBB: AUCAF) ("ACOR" or the "Company") is pleased to announce the closing of the acquisition of working interests in the Surat basin, onshore Australia, as previously announced on November 21, 2011. The Company is also pleased to announce the closing of the second tranche of financing at US$0.35 per share and provide guidance on current and future operations in Australia. HIGHLIGHTS o Acquisition of a 100% working interest in 4 oilfields with independently estimated remaining recoverable resources between 3.8 million barrels and 6.6 million barrels(1). o Acquisition of a 50% working interest in 1 oilfield with independently estimated remaining recoverable resources of 100,000 barrels net to the Company1 o Closing of two financings for gross total proceeds of approximately US$1.915 million o Addition of Bill Petrie Sr. and Jesse Meidl to the Company's Board of Directors, and retirement of Robert Kamon from the Company's Board of Directors (1) Per report dated August 2007 by CDS Data Services Pty Ltd. SURAT BASIN ACQUISITION - SIGNIFICANT REMAINING RECOVERABLE OIL ACOR has acquired a 100% working interest in PL 18, PL 40, and a 50% working interest in PL 280 are located in the Bowen/Surat Basin in Queensland Australia. This basin was home to the first oil discovery in Australia, and is currently the focus of significant coal-seam gas exploration and production activity by others. The assets acquired by ACOR include 5 oilfields: Yellowbank Creek, Thomby Creek, Louise, McWhirter, Narrows and Beardmore. These fields were developed in the 1970's and 1980's, and have collectively produced approximately 7-10% of the estimated oil originally in place ("OOIP"). ACOR believes that up to 50% of the OOIP is potentially recoverable through the application of well-established enhanced recovery techniques including downspacing, horizontal drilling, and reservoir pressure maintenance through waterflooding. -1- In 2007, the vendors of the Surat assets (the "Vendors") obtained an independent resource report by CDS Data Services Pty Ltd. ("CDS Report") to assess the remaining recoverable oil resources in the 5 fields. The CDS Report provided a range of 3.8 million barrels of oil equivalent to 6.7 million barrels of remaining recoverable oil resources. Since 2007, there has been no significant investment in the fields as the Vendors were unsuccessful in securing the necessary capital to develop the remaining oil resources (See "Cautionary Statements" below). The fields were recently producing 4 barrels of oil per day (bopd) of high quality 51(degree) oil, which is sold at a premium of approximately US$8.50 above Brent crude oil price, or a premium of approximately US$24.00 above West Texas Intermediate crude oil price. POST-CLOSING ACOR CAPITAL STRUCTURE Post-closing, ACOR currently has 50,000,000 shares issued and outstanding. ACOR has agreed to hold an annual and special meeting of shareholders as soon as practicable, in order to, among other things, amend the authorized share capital of the Company to provide for an unlimited number of shares. Upon such amendments taking effect and in accordance with the terms of the share exchange agreement dated November 17, 2011 (the "Share Exchange Agreement") among ACOR, 1629518 Alberta Ltd. and certain other parties thereto, the Company will issue an additional 69,065 shares of the Company to Bill Petrie Sr, Bill Petrie Jr, and Jesse Meidl, along with the issuance of 5,000,000 Share Purchase Warrants of ACOR (the "Warrants") to certain persons in accordance with the Share Exchange Agreement. The Warrants will have a strike price of US$0.25 per share, and will only vest if the Company trades at a price above US$1.00 per share for 10 consecutive days, with a total of 100,000 ACOR shares trading during the 10 day period, and expire 24 months after closing. The Company has agreed to pay the Vendors US$3.0 million within 12 months of the closing of the Acquisition (the "Deferred Consideration"). The Vendors have secured a first lien over PL 18, PL 40, and PL 280. The Company intends to secure a reserve based lending facility to refinance the Deferred Consideration, which does not accrue interest or other charges within 12 months of closing. NEW DIRECTORS The Board of ACOR are pleased to add two experienced oil industry executives: William Petrie Sr. and Jesse Meidl. Mr. Petrie has in excess of 35 years' experience as a petroleum geologist, primarily in Western Canada. He began his career with Mobil Oil, leaving after several years to join the independent sector. He has been involved as President and Director for a number of public and private oil and gas companies. In these positions he was responsible for generating, evaluating, and successfully exploiting oil and gas exploration, development, and acquisition opportunities throughout North America. -2- Mr. Meidl has over 15 years of experience in the oil and gas sector. He is Chief Financial Officer of a private international energy company, headquartered in London, England. Prior thereto, he was an investment banker in the International Oil & Gas group of Thomas Weisel Partners in London (Now Stifel Nicolas). Mr. Meidl was previously the Chief Financial Officer for Arsenal Energy Inc., an international exploration company listed on the Toronto Stock Exchange, which held production assets in Canada and the USA and exploration assets in Egypt, Colombia and Uzbekistan. He qualified as a Chartered Accountant with KPMG in Calgary, where he specialized in oil and gas exploration and production and services. He also holds the ICAEW Corporate Finance qualification and a B. Comm. degree from the University of Saskatchewan (Canada). The Company also advises that Robert Kamon has retired from the Board, and has also relinquished his duties as Corporate Secretary. Mr. Kamon was a co-founder of ACOR and through his efforts and service led the Company to its vast oil and gas holdings in Australia. The Board of Directors further acknowledges that his contributions to the Company will be missed. CORPORATE UPDATE In the second quarter of 2012, the Company will be undertaking a workover program of certain wells on PL 40 and PL 280 which will reactivate two old wells at a cost of A$400,000. The workover program is anticipated to bring total field production to approximately 25 barrels of oil per day. The Company will also be obtaining an updated reserve and resource report over all of the assets in the Company's portfolio, including the Surat basin assets and ACOR's ATP 582 in the Georgina basin. It is anticipated the report will be finalized in the second quarter of 2012. CAUTIONARY STATEMENTS Certain statements in this material may be "forward-looking statements" including outlook on oil and gas prices, estimates of future production, estimated completion dates of acquisitions and construction and development projects, business plans for drilling and exploration, estimated amount and timing of capital expenditures and anticipated future debt levels and royalty rates. Information concerning reserves contained in this material may also be deemed forward-looking statements as such estimates involve the implied assessment that the resources described can be profitably produced in the future. These statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated by ACOR. Statements contained in this press release and corporate information relating to future results, events and expectations are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve known and unknown risks, uncertainties, scheduling, re-scheduling and other factors which may cause the actual results, performance, estimates, projections, resource potential and/or reserves, interpretations, prognoses, schedules or achievements of the Corporation, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, those described in the Corporations' annual reports on Form 40-F or Form 20-F on file with the U.S. Securities and Exchange Commission ("SEC"). -3- Users are cautioned that these values represent resources, and not reserves as defined by the SEC. Under SEC standards, mineralization may not be classified as a reserve unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Investors are cautioned not to assume that all of measured or indicated resources will ever be converted into reserves. We seek safe harbor. For further information on ACOR, please visit our website at www.aussieoil.com, e-mail acorltd@suddenlink.net or call: 1-254-442-2638 (Office) 1-800-290-8342 (Toll Free in the United States) -4-
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"second", "tranche", "of", "financing", "at", "US$", "0.35", "per", "share", "and", "provide", "guidance", "on", "current", "and", "future", "operations", "in", "Australia", ".", "HIGHLIGHTS", "o", "Acquisition", "of", "a", "100", "%", "working", "interest", "in", "4", "oilfields", "with", "independently", "estimated", "remaining", "recoverable", "resources", "between", "3", ".", "8", "million", "barrels", "and", "6", ".", "6", "million", "barrels", "(", "1", ")", ".", "o", "Acquisition", "of", "a", "50", "%", "working", "interest", "in", "1", "oilfield", "with", "independently", "estimated", "remaining", "recoverable", "resources", "of", "100,000", "barrels", "net", "to", "the", "Company1", "o", "Closing", "of", "two", "financings", "for", "gross", "total", "proceeds", "of", "approximately", "US$", "1.915 million", "o", "Addition", "of", "Bill", "Petrie Sr.", "and", "Jesse", "Meidl", "to", "the", "Company", "'s", "Board", "of", "Directors", ",", "and", "retirement", "of", "Robert", "Kamon", "from", "the", "Company", "'s", "Board", "of", "Directors", "(", "1", ")", "Per", "report", "dated", "August", "2007", "by", "CDS", "Data", "Services", "Pty", "Ltd", ".", "SURAT", "BASIN", "ACQUISITION", "-", "SIGNIFICANT", "REMAINING", "RECOVERABLE", "OIL", "ACOR", "has", "acquired", "a", "100", "%", "working", "interest", "in", "PL", "18", ",", "PL", "40", ",", "and", "a", "50", "%", "working", "interest", "in", "PL", "280", "are", "located", "in", "the", "Bowen", "/", "Surat", "Basin", "in", "Queensland", "Australia", ".", "This", "basin", "was", "home", "to", "the", "first", "oil", "discovery", "in", "Australia", ",", "and", "is", "currently", "the", "focus", "of", "significant", "coal", "-", "seam", "gas", "exploration", "and", "production", "activity", "by", "others", ".", "The", "assets", "acquired", "by", "ACOR", "include", "5", "oilfields", ":", "Yellowbank", "Creek", ",", "Thomby", "Creek", ",", "Louise", ",", "McWhirter", ",", "Narrows", "and", "Beardmore", ".", "These", "fields", "were", "developed", "in", "the", "1970", "'", "s", "and", "1980", "'s", ",", "and", "have", "collectively", "produced", "approximately", "7", "-", "10", "%", "of", "the", "estimated", "oil", "originally", "in", "place", "(", "\"", "OOIP", "\"", ")", ".", "ACOR", "believes", "that", "up", "to", "50", "%", "of", "the", "OOIP", "is", "potentially", "recoverable", "through", "the", "application", "of", "well", "-", "established", "enhanced", "recovery", "techniques", "including", "downspacing", ",", "horizontal", "drilling", ",", "and", "reservoir", "pressure", "maintenance", "through", "waterflooding", ".", "-", "1", "-", "In", "2007", ",", "the", "vendors", "of", "the", "Surat", "assets", "(", "the", "\"", "Vendors", "\"", ")", "obtained", "an", "independent", "resource", "report", "by", "CDS", "Data", "Services", "Pty", "Ltd", ".", "(", "\"", "CDS", "Report", "\"", ")", "to", "assess", "the", "remaining", "recoverable", "oil", "resources", "in", "the", "5", "fields", ".", "The", "CDS", "Report", "provided", "a", "range", "of", "3.8 million", "barrels of oil", "equivalent", "to", "6", ".", "7", "million", "barrels", "of", "remaining", "recoverable", "oil", "resources", ".", "Since", "2007", ",", "there", "has", "been", "no", "significant", "investment", "in", "the", "fields", "as", "the", "Vendors", "were", "unsuccessful", "in", "securing", "the", "necessary", "capital", "to", "develop", "the", "remaining", "oil", "resources", "(", "See", "\"", "Cautionary", "Statements", "\"", "below", ")", ".", "The", "fields", "were", "recently", "producing", "4", "barrels of oil", "per", "day", "(", "bopd", ")", "of", "high", "quality", "51", "(", "degree", ")", "oil", ",", "which", "is", "sold", "at", "a", "premium", "of", "approximately", "US$", "8.50", "above", "Brent", "crude", "oil", "price", ",", "or", "a", "premium", "of", "approximately", "US$", "24.00", "above", "West", "Texas", "Intermediate", "crude", "oil", "price", ".", "POST", "-", "CLOSING", "ACOR", "CAPITAL", "STRUCTURE", "Post", "-", "closing", ",", "ACOR", "currently", "has", "50,000,000", "shares", "issued", "and", "outstanding", ".", "ACOR", "has", "agreed", "to", "hold", "an", "annual", "and", "special", "meeting", "of", "shareholders", "as", "soon", "as", "practicable", ",", "in", "order", "to", ",", "among", "other", "things", ",", "amend", "the", "authorized", "share", "capital", "of", "the", "Company", "to", "provide", "for", "an", "unlimited", "number", "of", "shares", ".", "Upon", "such", "amendments", "taking", "effect", "and", "in", "accordance", "with", "the", "terms", "of", "the", "share", "exchange", "agreement", "dated", "November", "17", ",", "2011", "(", "the", "\"", "Share", "Exchange", "Agreement", "\"", ")", "among", "ACOR", ",", "1629518", "Alberta", "Ltd", ".", "and", "certain", "other", "parties", "thereto", ",", "the", "Company", "will", "issue", "an", "additional", "69,065", "shares", "of", "the", "Company", "to", "Bill", "Petrie", "Sr", ",", "Bill", "Petrie", "Jr", ",", "and", "Jesse", "Meidl", ",", "along", "with", "the", "issuance", "of", "5,000,000", "Share", "Purchase", "Warrants", "of", "ACOR", "(", "the", "\"", "Warrants", "\"", ")", "to", "certain", "persons", "in", "accordance", "with", "the", "Share", "Exchange", "Agreement", ".", "The", "Warrants", "will", "have", "a", "strike", "price", "of", "US$", "0.25", "per", "share", ",", "and", "will", "only", "vest", "if", "the", "Company", "trades", "at", "a", "price", "above", "US$", "1.00", "per", "share", "for", "10", "consecutive", "days", ",", "with", "a", "total", "of", "100,000", "ACOR", "shares", "trading", "during", "the", "10", "day", "period", ",", "and", "expire", "24", "months", "after", "closing", ".", "The", "Company", "has", "agreed", "to", "pay", "the", "Vendors", "US$", "3.0 million", "within", "12", "months", "of", "the", "closing", "of", "the", "Acquisition", "(", "the", "\"", "Deferred", "Consideration", "\"", ")", ".", "The", "Vendors", "have", "secured", "a", "first", "lien", "over", "PL", "18", ",", "PL", "40", ",", "and", "PL", "280", ".", "The", "Company", "intends", "to", "secure", "a", "reserve", "based", "lending", "facility", "to", "refinance", "the", "Deferred", "Consideration", ",", "which", "does", "not", "accrue", "interest", "or", "other", "charges", "within", "12", "months", "of", "closing", ".", "NEW", "DIRECTORS", "The", "Board", "of", "ACOR", "are", "pleased", "to", "add", "two", "experienced", "oil", "industry", "executives", ":", "William", "Petrie Sr.", "and", "Jesse", "Meidl", ".", "Mr", ".", "Petrie", "has", "in", "excess", "of", "35", "years", "'", "experience", "as", "a", "petroleum", "geologist", ",", "primarily", "in", "Western", "Canada", ".", "He", "began", "his", "career", "with", "Mobil", "Oil", ",", "leaving", "after", "several", "years", "to", "join", "the", "independent", "sector", ".", "He", "has", "been", "involved", "as", "President", "and", "Director", "for", "a", "number", "of", "public", "and", "private", "oil", "and", "gas", "companies", ".", "In", "these", "positions", "he", "was", "responsible", "for", "generating", ",", "evaluating", ",", "and", "successfully", "exploiting", "oil", "and", "gas", "exploration", ",", "development", ",", "and", "acquisition", "opportunities", "throughout", "North", "America", ".", "-", "2", "-", "Mr", ".", "Meidl", "has", "over", "15", "years", "of", "experience", "in", "the", "oil", "and", "gas", "sector", ".", "He", "is", "Chief", "Financial", "Officer", "of", "a", "private", "international", "energy", "company", ",", "headquartered", "in", "London", ",", "England", ".", "Prior", "thereto", ",", "he", "was", "an", "investment", "banker", "in", "the", "International", "Oil", "&", "Gas", "group", "of", "Thomas", "Weisel", "Partners", "in", "London", "(", "Now", "Stifel", "Nicolas", ")", ".", "Mr", ".", "Meidl", "was", "previously", "the", "Chief", "Financial", "Officer", "for", "Arsenal", "Energy", "Inc", ".", ",", "an", "international", "exploration", "company", "listed", "on", "the", "Toronto", "Stock", "Exchange", ",", "which", "held", "production", "assets", "in", "Canada", "and", "the", "USA", "and", "exploration", "assets", "in", "Egypt", ",", "Colombia", "and", "Uzbekistan", ".", "He", "qualified", "as", "a", "Chartered", "Accountant", "with", "KPMG", "in", "Calgary", ",", "where", "he", "specialized", "in", "oil", "and", "gas", "exploration", "and", "production", "and", "services", ".", "He", "also", "holds", "the", "ICAEW", "Corporate", "Finance", "qualification", "and", "a", "B", ".", "Comm", ".", "degree", "from", "the", "University", "of", "Saskatchewan", "(", "Canada", ")", ".", "The", "Company", "also", "advises", "that", "Robert", "Kamon", "has", "retired", "from", "the", "Board", ",", "and", "has", "also", "relinquished", "his", "duties", "as", "Corporate", "Secretary", ".", "Mr", ".", "Kamon", "was", "a", "co", "-", "founder", "of", "ACOR", "and", "through", "his", "efforts", "and", 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",", "scheduling", ",", "re", "-", "scheduling", "and", "other", "factors", "which", "may", "cause", "the", "actual", "results", ",", "performance", ",", "estimates", ",", "projections", ",", "resource", "potential", "and", "/", "or", "reserves", ",", "interpretations", ",", "prognoses", ",", "schedules", "or", "achievements", "of", "the", "Corporation", ",", "or", "industry", "results", ",", "to", "be", "materially", "different", "from", "any", "future", "results", ",", "performance", "or", "achievements", "expressed", "or", "implied", "by", "such", "statements", ".", "Such", "factors", "include", ",", "among", "others", ",", "those", "described", "in", "the", "Corporations", "'", "annual", "reports", "on", "Form", "40", "-", "F", "or", "Form", "20", "-", "F", "on", "file", "with", "the", "U", ".", "S", ".", "Securities", "and", "Exchange", "Commission", "(", "\"", "SEC", "\"", ")", ".", "-", "3", "-", "Users", "are", "cautioned", "that", "these", "values", "represent", "resources", ",", "and", "not", "reserves", "as", "defined", "by", "the", "SEC", ".", "Under", "SEC", "standards", ",", "mineralization", "may", "not", "be", "classified", "as", "a", "reserve", "unless", "the", "determination", "has", "been", "made", "that", "the", "mineralization", "could", "be", "economically", "and", "legally", "produced", "or", "extracted", "at", "the", "time", "the", "reserve", "determination", "is", "made", ".", "Mineral", "resources", "that", "are", "not", "mineral", "reserves", "do", "not", "have", "demonstrated", "economic", "viability", ".", "Investors", "are", "cautioned", "not", "to", "assume", "that", "all", "of", "measured", "or", "indicated", "resources", "will", "ever", "be", "converted", "into", "reserves", ".", "We", "seek", "safe", "harbor", ".", "For", "further", "information", "on", "ACOR", ",", "please", "visit", "our", "website", "at", "www.aussieoil.com", ",", "e", "-", "mail", "acorltd@suddenlink.net", "or", "call", ":", "1", "-", "254", "-", "442", "-", "2638", "(", "Office", ")", "1", "-", "800", "-", "290", "-", "8342", "(", "Toll", "Free", "in", "the", "United", "States", ")", "-", "4", "-" ]
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830483-000101041214000212-oakridgeglobalenergysolution
EX-99 5 oakridgeglobalenergysolution.htm PRESS RELEASE DATED DECEMBER 11, 2014 Oakridge Global Energy Solutions Announces Execution of Letter of Intent to Acquire Controlling Interest in Leclanché SA Oakridge Global Energy Solutions Announces Execution of Letter of Intent to Acquire Substantial Interest in Leclanché S.A. MELBOURNE, Fla.--(BUSINESS WIRE)--Dec. 11, 2014--Oakridge Global Energy Solutions, Inc. (OTC: OGES), a cutting-edge technological leader in solid-state battery systems, today announced the execution of a binding Letter of Intent to acquire controlling interest in Leclanché S.A., a Swiss share company. Under the terms of the agreement, Oakridge will acquire from Precept Fund Management SPC 11,000,000 shares of Leclanché. Traded on the SIX Swiss Exchange, the value of the transaction was estimated at approximately $45 million on December 5, 2014, the date when the Letter of Intent was executed, based solely on the Purchase Price of Leclanché's shares in the Letter of Intent rather than the higher quoted price for such shares. "We at Precept are very excited with the enormous growth potential of Oakridge based on its focused approach over the past 12 months to its core business of high quality specialist lithium ion prismatic battery manufacturing for both the defense and the civilian markets", said Steve Barber, the Chairman and Chief Investment Officer of the Company's major shareholder, Precept Fund Management SPC. "As a result, we have decided to consolidate all of our strategic Lithium ion battery manufacturing investments under Oakridge from this point on, most especially given the announced plans for Oakridge to move its listing from the OTC BB to the Capital Market of NASDAQ in the near term". Founded in 1909 in Yverdon-les-Bains, Switzerland, Leclanché S.A. is the company that originally invented the lead acid battery used throughout the world for starter motor batteries, and one of the oldest continuously operating names in the global battery business and is believed to be the largest battery manufacturer in Europe. Mr. Barber continued, "Having Oakridge step into Precept's shoes as the major shareholder of such an august old battery manufacturing name as Leclanché S.A. will not only enable Oakridge to more directly capitalize on the previously announced strategic alliance between the two companies for Lithium ion technology interchange, by virtue of it being Leclanche's major shareholder and only battery industry shareholder, but will also represent an important strategic industry investment for Oakridge in Leclanché and its new Lithium Titanate energy storage technology and ceramic safety separator technology, with a view to furthering Oakridge's execution of its previously announced industry consolidation "vertical investment" strategy". Additional information can be accessed in our 8-K Current Report dated December 5, 2014, which was filed with the Securities and Exchange Commission on December 11, 2014. FORWARD-LOOKING STATEMENT DISCLAIMER This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "may", "ongoing", "plan", "potential", "predict", "project", "should", "will", "would", or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the EDGAR Archives of the Securities and Exchange Commission at www.sec.gov. Press Contacts: Ben Jackson ir@oakridgeenergytech.com 213.674.6700
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"company", ".", "Under", "the", "terms", "of", "the", "agreement", ",", "Oakridge", "will", "acquire", "from", "Precept", "Fund", "Management", "SPC", "11,000,000", "shares", "of", "Leclanché", ".", "Traded", "on", "the", "SIX", "Swiss", "Exchange", ",", "the", "value", "of", "the", "transaction", "was", "estimated", "at", "approximately", "$", "45 million", "on", "December", "5", ",", "2014", ",", "the", "date", "when", "the", "Letter", "of", "Intent", "was", "executed", ",", "based", "solely", "on", "the", "Purchase", "Price", "of", "Leclanché", "'s", "shares", "in", "the", "Letter", "of", "Intent", "rather", "than", "the", "higher", "quoted", "price", "for", "such", "shares", ".", "\"", "We", "at", "Precept", "are", "very", "excited", "with", "the", "enormous", "growth", "potential", "of", "Oakridge", "based", "on", "its", "focused", "approach", "over", "the", "past", "12", "months", "to", "its", "core", "business", "of", "high", "quality", "specialist", "lithium", "ion", "prismatic", "battery", "manufacturing", "for", "both", "the", "defense", "and", "the", "civilian", "markets", "\"", ",", "said", "Steve", "Barber", ",", "the", "Chairman", "and", "Chief", "Investment", "Officer", "of", "the", "Company", "'s", "major", "shareholder", ",", "Precept", "Fund", "Management", "SPC", ".", "\"", "As", "a", "result", ",", "we", "have", "decided", "to", "consolidate", "all", "of", "our", "strategic", "Lithium", "ion", "battery", "manufacturing", "investments", "under", "Oakridge", "from", "this", "point", "on", ",", "most", "especially", "given", "the", "announced", "plans", "for", "Oakridge", "to", "move", "its", "listing", "from", "the", "OTC", "BB", "to", "the", "Capital", "Market", "of", "NASDAQ", "in", "the", "near", "term", "\"", ".", "Founded", "in", "1909", "in", "Yverdon", "-", "les", "-", "Bains", ",", "Switzerland", ",", "Leclanché", "S", ".", "A", ".", "is", "the", "company", "that", "originally", "invented", "the", "lead", "acid", "battery", "used", "throughout", "the", "world", "for", "starter", "motor", "batteries", ",", "and", "one", "of", "the", "oldest", "continuously", "operating", "names", "in", "the", "global", "battery", "business", "and", "is", "believed", "to", "be", "the", "largest", "battery", "manufacturer", "in", "Europe", ".", "Mr", ".", "Barber", "continued", ",", "\"", "Having", "Oakridge", "step", "into", "Precept", "'s", "shoes", "as", "the", "major", "shareholder", "of", "such", "an", "august", "old", "battery", "manufacturing", "name", "as", "Leclanché", "S", ".", "A", ".", "will", "not", "only", "enable", "Oakridge", "to", "more", "directly", "capitalize", "on", "the", "previously", "announced", "strategic", "alliance", "between", "the", "two", "companies", "for", "Lithium", "ion", "technology", "interchange", ",", "by", "virtue", "of", "it", "being", "Leclanche", "'s", "major", "shareholder", "and", "only", "battery", "industry", "shareholder", ",", "but", "will", "also", "represent", "an", 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877860-000087786013000002-ex99edison1212
EX-99 2 ex99edison1212.htm EXHIBIT 99: PRESS RELEASE ex99edison1212 Exhibit 99 Contact: Roger R. Hopkins, Chief Accounting Officer Phone: (615) 890-9100 NHI Sells New Jersey Facility For $23 Million MURFREESBORO, Tenn. - (December 28, 2012) National Health Investors, Inc. (NYSE:NHI) announced today it has sold its 148-bed, Edison, New Jersey senior living campus for $23 million to its current tenant, Sunrise Senior Living, pursuant to a purchase option between the parties. Billed revenue to NHI during 2012 was approximately $1.4 million. About National Health Investors National Health Investors, Inc. (NYSE: NHI) is a healthcare real estate investment trust specializing in financing healthcare real estate by purchase and leaseback transactions, RIDEA transactions and by mortgage loans. NHI's investments include independent living, assisted living, senior living campuses, skilled nursing facilities, medical office buildings, and hospitals. Find additional information about NHI at www.nhireit.com. Statements in this press release that are not historical facts are forward-looking statements. NHI cautions investors that any forward-looking statements may involve risks and uncertainties and are not guarantees of future performance. All forward-looking statements represent NHI's judgment as of the date of this release. Investors are urged to carefully review and consider the various disclosures made by NHI in its periodic reports filed with the Securities and Exchange Commission, including the risk factors and other information disclosed in NHI's Annual Report on Form 10-K for the most recently ended fiscal year. Copies of these filings are available at no cost on the SEC's web site at http://www.sec.gov or on NHI's web site at http://www.nhireit.com.
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1481832-000148183221000068-pressreleaseannouncingdisp
EX-99.1 2 pressreleaseannouncingdisp.htm PRESS RELEASE ANNOUNCING DISPOSITION OF OFFICE PORTFOLIO Document Preferred Apartment Communities, Inc. Completes Disposition of Substantial Majority of its Office Portfolio to Highwoods Properties, Inc. Atlanta, GA, July 29, 2021 Preferred Apartment Communities, Inc. (NYSE: APTS) ("PAC" or the "Company") closed on its previously announced disposition of a portfolio of five office properties and one office real estate loan investment to Highwoods Properties, Inc. (NYSE: HIW) for an aggregate purchase price of $645.5 million, which will result in net proceeds at closing of approximately $241.5 million, after the satisfaction of approximately $404.0 million of property level debt and other closing adjustments and costs. The closing of this transaction further simplifies PAC's investment focus with revenue going forward being derived primarily from its core Sunbelt multifamily investments. As part of the Highwoods transaction, and as more fully described in the Company's April 18, 2021 press release, PAC has elected to separately market Armour Yards and 251 Armour Yards (the "Armour Yards Portfolio") outside of the Highwoods transaction. On July 22, 2021, PAC entered into an agreement to sell the Armour Yards Portfolio to Northwood Investors. The buyer's contractual due diligence period has ended, and Northwood has posted an earnest money deposit that is non-refundable except in limited circumstances. The Armour Yards Portfolio transaction is subject to customary closing conditions and is expected to close later in the third quarter. Joel Murphy, PAC's Chairman and Chief Executive Officer, said: "The successful closing of the office portfolio transaction further builds upon our stated strategy to simplify our business platform which commenced in 2020 with the internalization of the external management structure and the sale of our entire student housing portfolio. We expect to utilize the cash proceeds generated from this sale (i) to continue to realign our balance sheet through calls and/or redemptions of our Series A preferred shares, (ii) to grow our core suburban Sunbelt Class A multifamily business through acquisitions and real estate loan investments, and (iii) for other corporate purposes, which may include redeeming additional preferred stock". Mr. Murphy continued, "Further, we are also pleased with the agreement with Northwood Investors to sell the Armour Yards Portfolio which demonstrates our ability to maximize the value of our few remaining office assets. As previously disclosed, our intention is to fully exit the office asset class through a disciplined and well-executed disposition process over time and the Armour Yards Portfolio sale is further tangible evidence of that intent". In connection with the transaction, JLL acted as real estate advisor, Goldman Sachs & Co. LLC acted as financial advisor, and King & Spalding LLP acted as legal advisor to PAC. About Preferred Apartment Communities, Inc. Preferred Apartment Communities, Inc. (NYSE: APTS) is a real estate investment trust engaged primarily in the ownership and operation of Class A multifamily properties, with select investments in grocery anchored shopping centers. Preferred Apartment Communities' investment objective is to generate attractive, stable returns for stockholders by investing in income-producing properties and acquiring or originating multifamily real estate loans. As of June 30, 2021, the Company owned or was invested in 117 properties in 13 states, predominantly in the Southeast region of the United States. Learn more at www.pacapts.com. Forward-Looking Statements This press release may contain 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. These statements may be identified by the use of forward-looking terminology such as "may", "trend", "will", "expects", "plans", "estimates", "anticipates", "projects", "intends", "believes", "goals", "objectives", "outlook" and similar expressions. These forward-looking statements include, but are not limited to, statements regarding expected use of proceeds. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements, including risks related to the closing of the transaction and timing thereof. These risks, uncertainties and contingencies include, but are not limited to, (a) the impact of the COVID-19 pandemic and related federal, state and local government actions on PAC's business operations and the economic conditions in the markets in which PAC operates; (b) PAC's ability to mitigate the impacts arising from COVID-19; (c) the closing of the sale of the Armour Yards Portfolio and (d) those disclosed in PAC's filings with the Securities and Exchange Commission. PAC undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law. Additional Information The SEC has declared effective the registration statement filed by the Company for each of our public offerings. Before you invest, you should read the final prospectus, and any prospectus supplements forming a part of the registration statement and other documents the Company has filed with the SEC for more complete information about the Company and the offering. In particular, you should carefully read the risk factors described in the final prospectus and in any related prospectus supplement and in the documents incorporated by reference in the final prospectus and any related prospectus supplement. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company or its dealer manager, Preferred Capital Securities, LLC, will arrange to send you a prospectus with respect to the Series A1/M1 Offering upon request by contacting John A. Isakson at (770) 818-4109, 3284 Northside Parkway NW, Suite 150, Atlanta, Georgia 30327. The final prospectus for the Series A1/M1 Offering, dated October 22, 2019, can be accessed through the following link: https://www.sec.gov/Archives/edgar/data/1481832/000148183219000097/a424b5-2019seriesamshares.htm SOURCE: Preferred Apartment Communities, Inc. Preferred Apartment Communities, Inc. John A. Isakson 770-818-4109 Chief Financial Officer Email: jisakson@pacapts.com Preferred Apartment Communities, Inc. Paul Cullen 770-818-4144 Executive Vice President-Investor Relations Email: InvestorRelations@pacapts.com
[ "EX", "-", "99", ".", "1", "2", "pressreleaseannouncingdisp", ".", "htm", "PRESS", "RELEASE", "ANNOUNCING", "DISPOSITION", "OF", "OFFICE", "PORTFOLIO", "Document", "Preferred", "Apartment", "Communities", ",", "Inc", ".", "Completes", "Disposition", "of", "Substantial", "Majority", "of", "its", "Office", "Portfolio", "to", "Highwoods", "Properties", ",", "Inc", ".", "Atlanta", ",", "GA", ",", "July", "29", ",", "2021", "Preferred", "Apartment", "Communities", ",", "Inc", ".", "(", "NYSE", ":", "APTS", ")", "(", "\"", "PAC", "\"", "or", "the", "\"", "Company", "\"", ")", "closed", "on", "its", "previously", "announced", "disposition", "of", "a", "portfolio", "of", "five", "office", "properties", "and", "one", "office", "real", "estate", "loan", "investment", "to", "Highwoods", "Properties", ",", "Inc", ".", "(", "NYSE", ":", "HIW", ")", "for", "an", "aggregate", "purchase", "price", "of", "$", "645.5 million", ",", "which", "will", "result", "in", "net", "proceeds", "at", "closing", "of", "approximately", "$", "241.5 million", ",", "after", "the", "satisfaction", "of", "approximately", "$", "404.0 million", "of", "property", "level", "debt", "and", "other", "closing", "adjustments", "and", "costs", ".", "The", "closing", "of", "this", "transaction", "further", "simplifies", "PAC", "'s", "investment", "focus", "with", "revenue", "going", "forward", "being", "derived", "primarily", "from", "its", "core", "Sunbelt", "multifamily", "investments", ".", "As", "part", "of", "the", "Highwoods", "transaction", ",", "and", "as", "more", "fully", "described", "in", "the", "Company", "'s", "April", "18", ",", "2021", "press", "release", ",", "PAC", "has", "elected", "to", "separately", "market", "Armour", "Yards", "and", "251", "Armour", "Yards", "(", "the", "\"", "Armour", "Yards", "Portfolio", "\"", ")", "outside", "of", "the", "Highwoods", "transaction", ".", "On", "July", "22", ",", "2021", ",", "PAC", "entered", "into", "an", "agreement", "to", "sell", "the", "Armour", "Yards", "Portfolio", "to", "Northwood", "Investors", ".", "The", "buyer", "'s", "contractual", "due", "diligence", "period", "has", "ended", ",", "and", "Northwood", "has", "posted", "an", "earnest", "money", "deposit", "that", "is", "non", "-", "refundable", "except", "in", "limited", "circumstances", ".", "The", "Armour", "Yards", "Portfolio", "transaction", "is", "subject", "to", "customary", "closing", "conditions", "and", "is", "expected", "to", "close", "later", "in", "the", "third", "quarter", ".", "Joel", "Murphy", ",", "PAC", "'s", "Chairman", "and", "Chief", "Executive", "Officer", ",", "said", ":", "\"", "The", "successful", "closing", "of", "the", "office", "portfolio", "transaction", "further", "builds", "upon", "our", "stated", "strategy", "to", "simplify", "our", "business", "platform", "which", "commenced", "in", "2020", "with", "the", "internalization", "of", "the", "external", "management", "structure", "and", "the", "sale", "of", "our", "entire", "student", "housing", "portfolio", ".", "We", "expect", "to", "utilize", "the", "cash", "proceeds", "generated", "from", "this", "sale", "(", "i", ")", "to", "continue", "to", "realign", "our", "balance", "sheet", "through", "calls", "and", "/", "or", "redemptions", "of", "our", "Series", "A", "preferred", "shares", ",", "(", "ii", ")", "to", "grow", "our", "core", "suburban", "Sunbelt", "Class", "A", "multifamily", "business", "through", "acquisitions", "and", "real", "estate", "loan", "investments", ",", "and", "(", "iii", ")", "for", "other", "corporate", "purposes", ",", "which", "may", "include", "redeeming", "additional", "preferred", "stock", "\"", ".", "Mr", ".", "Murphy", "continued", ",", "\"", "Further", ",", "we", "are", "also", "pleased", "with", "the", "agreement", "with", "Northwood", "Investors", "to", "sell", "the", "Armour", "Yards", "Portfolio", "which", "demonstrates", "our", "ability", "to", "maximize", "the", "value", "of", "our", "few", "remaining", "office", "assets", ".", "As", "previously", "disclosed", ",", "our", "intention", "is", "to", "fully", "exit", "the", "office", "asset", "class", "through", "a", "disciplined", "and", "well", "-", "executed", "disposition", "process", "over", "time", "and", "the", "Armour", "Yards", "Portfolio", "sale", "is", "further", "tangible", "evidence", "of", "that", "intent", "\"", ".", "In", "connection", "with", "the", "transaction", ",", "JLL", "acted", "as", "real", "estate", "advisor", ",", "Goldman", "Sachs", "&", "Co", ".", "LLC", "acted", "as", "financial", "advisor", ",", "and", "King", "&", "Spalding", "LLP", "acted", "as", "legal", "advisor", "to", "PAC", ".", "About", "Preferred", "Apartment", "Communities", ",", "Inc", ".", "Preferred", "Apartment", "Communities", ",", "Inc", ".", "(", "NYSE", ":", "APTS", ")", "is", "a", "real", "estate", "investment", "trust", "engaged", "primarily", "in", "the", "ownership", "and", "operation", "of", "Class", "A", "multifamily", "properties", ",", "with", "select", "investments", "in", "grocery", "anchored", "shopping", "centers", ".", "Preferred", "Apartment", "Communities", "'", "investment", "objective", "is", "to", "generate", "attractive", ",", "stable", "returns", "for", "stockholders", "by", "investing", "in", "income", "-", "producing", "properties", "and", "acquiring", "or", "originating", "multifamily", "real", "estate", "loans", ".", "As", "of", "June", "30", ",", "2021", ",", "the", "Company", "owned", "or", "was", "invested", "in", "117", "properties", "in", "13", "states", ",", "predominantly", "in", "the", "Southeast", "region", "of", "the", "United", "States", ".", "Learn", "more", "at", "www.pacapts.com", ".", "Forward", "-", "Looking", "Statements", "This", "press", "release", "may", "contain", "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", ".", "These", "statements", "may", "be", "identified", "by", "the", "use", "of", "forward", "-", "looking", "terminology", "such", "as", "\"", "may", "\"", ",", "\"", "trend", "\"", ",", "\"", "will", "\"", ",", "\"", "expects", "\"", ",", "\"", "plans", "\"", ",", "\"", "estimates", "\"", ",", "\"", "anticipates", "\"", ",", "\"", "projects", "\"", ",", "\"", "intends", "\"", ",", "\"", "believes", "\"", ",", "\"", "goals", "\"", ",", "\"", "objectives", "\"", ",", "\"", "outlook", "\"", "and", "similar", "expressions", ".", "These", "forward", "-", "looking", "statements", "include", ",", "but", "are", "not", "limited", "to", ",", "statements", "regarding", "expected", "use", "of", "proceeds", ".", "Because", "such", "statements", "include", "risks", ",", "uncertainties", "and", "contingencies", ",", "actual", "results", "may", "differ", "materially", "from", "the", "expectations", ",", "intentions", ",", "beliefs", ",", "plans", "or", "predictions", "of", "the", "future", "expressed", "or", "implied", "by", "such", "forward", "-", "looking", "statements", ",", "including", "risks", "related", "to", "the", "closing", "of", "the", "transaction", "and", "timing", "thereof", ".", "These", "risks", ",", "uncertainties", "and", "contingencies", "include", ",", "but", "are", "not", "limited", "to", ",", "(", "a", ")", "the", "impact", "of", "the", "COVID", "-", "19", "pandemic", "and", "related", "federal", ",", "state", "and", "local", "government", "actions", "on", "PAC", "'s", "business", "operations", "and", "the", "economic", "conditions", "in", "the", "markets", "in", "which", "PAC", "operates", ";", "(", "b", ")", "PAC", "'s", "ability", "to", "mitigate", "the", "impacts", "arising", "from", "COVID", "-", "19", ";", "(", "c", ")", "the", "closing", "of", "the", "sale", "of", "the", "Armour", "Yards", "Portfolio", "and", "(", "d", ")", "those", "disclosed", "in", "PAC", "'s", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "PAC", "undertakes", "no", "obligation", "to", "update", "these", "forward", "-", "looking", "statements", "to", "reflect", "events", "or", "circumstances", "after", "the", "date", "hereof", "or", "to", "reflect", "the", "occurrence", "of", "unanticipated", "events", ",", "except", "as", "may", "be", "required", "by", "law", ".", "Additional", "Information", "The", "SEC", "has", "declared", "effective", "the", "registration", "statement", "filed", "by", "the", "Company", "for", "each", "of", "our", "public", "offerings", ".", "Before", "you", "invest", ",", "you", "should", "read", "the", "final", "prospectus", ",", "and", "any", "prospectus", "supplements", "forming", "a", "part", "of", "the", "registration", "statement", "and", "other", "documents", "the", "Company", "has", "filed", "with", "the", "SEC", "for", "more", "complete", "information", "about", "the", "Company", "and", "the", "offering", ".", "In", "particular", ",", "you", "should", "carefully", "read", "the", "risk", "factors", 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"October", "22", ",", "2019", ",", "can", "be", "accessed", "through", "the", "following", "link", ":", "https://www.sec.gov/Archives/edgar/data/1481832/000148183219000097/a424b5-2019seriesamshares.htm", "SOURCE", ":", "Preferred", "Apartment", "Communities", ",", "Inc", ".", "Preferred", "Apartment", "Communities", ",", "Inc", ".", "John", "A", ".", "Isakson", "770", "-", "818", "-", "4109", "Chief", "Financial", "Officer", "Email", ":", "jisakson@pacapts.com", "Preferred", "Apartment", "Communities", ",", "Inc", ".", "Paul", "Cullen", "770", "-", "818", "-", "4144", "Executive", "Vice", "President", "-", "Investor", "Relations", "Email", ":", "InvestorRelations@pacapts.com" ]
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1360604-000129993308001673-exhibit3
EX-99.1 4 exhibit3.htm EX-99.1 EX-99.1 Contact: Julia McCartney, 714.667.8252, ext. 230 julia.mccartney@grubb-ellis.com Grubb & Ellis Healthcare REIT Acquires Epler Parke Building B in Indianapolis SANTA ANA, Calif. (March 28, 2008) - Grubb & Ellis Healthcare REIT, Inc. today announced the acquisition of Epler Parke Building B in Indianapolis. Located at 5550 South East St., Epler Parke Building B is a single story multi-tenant medical office building consisting of approximately 34,000 square feet of gross leaseable area. Built in 2004 on approximately four acres, the 95 percent leased property offers 196 parking spaces and is accessible by Interstates 465 and 74, as well as State Highway 31 and Highway 37. "Epler Parke Building B's location in the expanding south Indianapolis market adds to the attractiveness of this acquisition", said Danny Prosky, Vice President of Acquisitions for Grubb & Ellis Healthcare REIT. "The property is located near Community Hospital South, one of the area's leading medical centers, and in a region where demand for healthcare services is growing. This is an ideal combination for Grubb & Ellis Healthcare REIT". Community Hospital South recently launched a $130 million, 194,000-square-foot expansion that will include a new five-story patient tower, an expansion of the hospital's surgical services, renovation of all existing units to private room, an expanded lobby and additional outpatient services. The expansion follows the 2007 openings of Community Hospital South's new emergency department and the renovation of the on-campus Indiana Surgery Center South. According to Community Health Network, a not-for profit health system with more than 70 sites of care throughout central Indiana, which includes Community Hospital South, the expansion is in response to growing demand for medical services in the region. Grubb & Ellis Healthcare REIT also owns Epler Parke Building I, along with Southpointe Office Park, medical buildings located just three miles south of Epler Parke Building B. According to Prosky, this regional clustering of properties should enhance stockholder value. Epler Parke Building B was acquired utilizing the line of credit held by Grubb & Ellis Healthcare REIT. As of March 14, 2008, Grubb & Ellis Healthcare REIT has sold approximately 25.9 million shares of its common stock, excluding the shares issued under its distribution reinvestment plan, for approximately $259 million through its initial public offering. The initial public offering began in the third quarter of 2006. Grubb & Ellis Healthcare REIT offers a monthly distribution of 7.25 percent per annum and as of March 24, 2008, has made 24 geographically-diverse acquisitions valued at approximately $468 million. About Grubb & Ellis Grubb & Ellis Company (NYSE: GBE), one of the largest and most respected commercial real estate services companies, is the sponsor of Grubb & Ellis Healthcare REIT, Inc. With more than 130 owned and affiliate offices worldwide, Grubb & Ellis offers property owners, corporate occupants and investors comprehensive integrated real estate solutions, including transaction, management, consulting and investment advisory services supported by proprietary market research and extensive local market expertise. Grubb & Ellis and its subsidiaries are leading sponsors of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including tax-deferred 1031 tenant-in-common (TIC) exchanges, public non-traded real estate investment trusts (REITs) and real estate investment funds. As of December 31, 2007, nearly $3 billion in investor equity has been raised for these investment programs. The company and its subsidiaries currently manage a growing portfolio of more than 216 million square feet of real estate. In 2007, Grubb & Ellis was selected from among 15,000 vendors as Microsoft Corporation's Vendor of the Year. For more information regarding Grubb & Ellis Company, please visit www.grubb-ellis.com . FORWARD-LOOKING LANGUAGE This press release contains certain forward-looking statements with respect to the growing demand for healthcare services, the importance that the property adds to the Grubb & Ellis Healthcare REIT portfolio, and the enhancement of stockholder value. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management's intentions, beliefs, expectations, plans or predictions of the future, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: uncertainties regarding changes in the healthcare industry; uncertainties relating to changes in general economic and real estate conditions; uncertainties relating to the economy of the Indianapolis, Indiana area; the strengths and financial condition of Epler Parke Building B and Community Hospital South; the uncertainties relating to the implementation of our real estate investment strategy; and other risk factors as outlined in the company's prospectus, as amended from time to time, and as detailed from time to time in our periodic reports, as filed with the Securities and Exchange Commission.
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1287213-000110465916133703-a16-15024_1ex99d1
EX-99.1 4 a16-15024_1ex99d1.htm EX-99.1 Exhibit 99.1 For further information contact: Douglas Dynamics, Inc. Bob McCormick 414-362-3868 investorrelations@douglasdynamics.com DOUGLAS DYNAMICS COMPLETES ACQUISITION OF ASSETS OF DEJANA TRUCK & UTILITY EQUIPMENT COMPANY July 18, 2016 - Milwaukee, Wisconsin - Douglas Dynamics, Inc. (NYSE: PLOW), North America's premier manufacturer of vehicle attachments and equipment, today announced that it has successfully completed the acquisition of substantially all the assets of Dejana Truck & Utility Equipment Company, Inc. and certain related entities (Dejana) for $206 million, including a $26 million performance earn out provision, subject to post-closing adjustments. The signing of the definitive purchase agreement for the acquisition was previously announced on June 16, 2016. Douglas Dynamics believes the acquisition significantly strengthens its position as a premier manufacturer and up fitter of vehicle attachments and equipment. Adding the Dejana business is expected to diversify the Company's revenue streams and reduce the influence of weather on the overall business going forward. Headquartered in Kings Park, New York, Dejana is a premier up fitter of Class 4-6 trucks and other commercial work vehicles in the Eastern U.S. Dejana is also a leading specialized manufacturer of storage solutions for trucks and vans and cable pulling equipment for trucks. Dejana maintains seven manufacturing and up fit facilities and currently employs approximately 500 people in five states. For the trailing twelve months ending March 31, 2016, Dejana generated net sales of $145 million. About Douglas Dynamics Home to the most trusted brands in the industry, Douglas Dynamics is North America's premier manufacturer of vehicle attachments and equipment. For more than 65 years, the Company has been innovating products that not only enable people to perform their jobs more efficiently and effectively, but also enable businesses to increase profitability. Our commitment to continuous improvement enables us to consistently produce the highest quality products and drive shareholder value. The Douglas Dynamics portfolio includes snow and ice management attachments sold under the FISHER®, WESTERN®, HENDERSON® and SNOWEX® brands. Additional information is available at www.douglasdynamics.com. Forward Looking Statements This press release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These statements include information relating to future events, future financial performance, strategies, expectations, competitive environment, regulation, product demand, the payment of dividends, and availability of financial resources. These statements are often identified by use of words such as "anticipate", "believe," "intend", "estimate", "expect", "continue", "should", "could", "may", "plan", "project", "predict", "will" and similar expressions and include references to assumptions and relate to our future prospects, developments and business strategies. Such statements involve known and unknown risks, uncertainties and other factors that could cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the potential for Dejana not to achieve projected financial performance, unanticipated challenges related to the integration of the Dejana business and unexpected costs or liabilities related to the acquisition of Dejana, as well as those discussed in the section entitled "Risk Factors" in our annual report on Form 10-K for the year ended December 31, 2015. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. In addition, the forward-looking statements in this release speak only as of the date hereof and we undertake no obligation, except as required by law, to update or release any revisions to any forward-looking statement, even if new information becomes available in the future. 2
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1356711-000135671108000006-ex_99-1
EX-99 2 ex_99-1.htm EXHIBT 99-1, PRESS RELEASE Exhibit 99.1 INVESTOR NEWS For Immediate Release AZEK Building Products and Composatron Combination Completed Thursday, March 6, 2008 AZEK Building Products, a subsidiary of CPG International Inc. ("CPG") and a leading supplier of premium, low maintenance building products, completed the acquisition of Composatron Manufacturing Inc. ("Composatron") on February 29th. On February 11th, CPG signed a definitive agreement to acquire 100% of the outstanding stock of Composatron. Composatron, located outside Toronto, Canada, is a privately held manufacturer of Premier and Trademark Railing Systems utilizing a polyvinyl chloride ("PVC") and wood flour composite and co-extruded PVC capstock. The products have the subtle texture of painted wood and are ICC code listed. The purchase price for the acquisition was approximately CAD $30 million, subject to working capital adjustments (with additional payments if certain financial targets are met in 2008). To finance the acquisition and CPG's related fees and expenses, the sources of funds included $25 million (or approximately CAD $24.5 million) of borrowings under a Term Loan together with cash from the Company's operations. About CPG International Headquartered in Scranton, Pennsylvania, CPG International is a manufacturer of market-leading brands of highly engineered, premium, low-maintenance, building products for residential and commercial markets designed to replace wood, metal and other traditional materials in a variety of construction applications. The Company's products are marketed under several brands including AZEK® Trim and Mouldings, AZEK® Deck, Santana Products, Comtec Industries, Capitol, EverTuff™, TuffTec™, Hiny Hider® and Celtec®, as well as many other brands. For additional information on CPG please visit our web site at WWW.CPGINT.COM.
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33185-000114420412070042-v331021_ex99-1
EX-99.1 2 v331021_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 1550 Peachtree Street, N.W. Atlanta, Georgia 30309 NEWS RELEASE Contact: Jeff Dodg Tim Klein Investor Relations Media Relations (404) 885-8804 (404) 885-8555 jeff.dodge@equifax.com tim.klein@equifax.com Equifax Completes Acquisition of CSC Credit Services Assets ATLANTA, December 28, 2012 - Equifax Inc. (NYSE: EFX) announced the completion of the acquisition of certain business assets and the operations of CSC Credit Services, Inc., a subsidiary of Computer Sciences Corporation (NYSE: CSC) following satisfaction of all closing conditions of the asset purchase agreement. Equifax announced on December 3 that it entered into a definitive purchase agreement with respect to this acquisition. Headquartered in Houston, TX, CSC's credit services business provides consumer credit services and related information to banks, mortgage companies, retail establishments, the automotive industry, medical entities, utility companies and other users of financial and credit information. CSC owns consumer credit files in 15 U.S. states covering approximately 20 percent of the U.S. population. CSC has been Equifax's largest credit affiliate since 1988. Equifax has been processing CSC's credit information and selling those files nationally since that time. About Equifax (www.equifax.com) Equifax is a global leader in consumer and commercial information solutions, providing businesses of all sizes and consumers with information they can trust. We organize and assimilate data on more than 500 million consumers and 81 million businesses worldwide, and use advanced analytics and proprietary technology to create and deliver customized insights that enrich both the performance of businesses and the lives of consumers. Headquartered in Atlanta, Equifax operates or has investments in 18 countries and is a member of Standard & Poor's (S&P) 500® Index. Its common stock is traded on the New York Stock Exchange under the symbol EFX . For more information, please visit www.equifax.com. Forward-Looking Statements This document may contain forward-looking statements. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of Equifax and the information contained in this release. These factors include the ability to integrate successfully the purchased assets and operations within Equifax or to realize synergies from such integration; costs related to the acquisition; the economic environment of the industries in which Equifax operates; and other risk factors discussed in Equifax's public reports filed with the SEC. Equifax assumes no duty whatsoever to update these forward-looking statements or to conform them to future events or developments. ###
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1065728-000136110607000014-ableenergy_8k-ex9901
EX-99.1 3 ableenergy_8k-ex9901.txt PRESS RELEASE EXHIBIT 99.1 ABLE ENERGY, INC. PRESS RELEASE COMMON STOCK SYMBOL: ABLE.PK FOR IMMEDIATE RELEASE ABLE ENERGY ANNOUNCES CEO CHANGE AND BUSINESS COMBINATION ROCKAWAY, NEW JERSEY (May 30, 2007) - Able Energy, Inc. ("Able") announced today that it is about to complete its business combination with All American Plazas ("AAP"), its largest stockholder. This business combination will result in Able Energy acquiring and operating eleven multi-use truck stop plazas owned by AAP. Able is also pleased to announce today that Gregory D. Frost is terminating his leave of absence from Able and returning to serve as Able's CEO and Chairman. This business combination was approved by more than a two-thirds majority of Able's disinterested stockholders at a special meeting of Able's stockholders held on August 29, 2006. Able will assume certain of AAP's debt as a part of the combination. Able will issue to AAP 10 million restricted shares of its common stock in consideration for the combination. In addition, Able will issue 1,666,667 shares, which will be held in escrow. In the event that Able's Board, in exchange for additional consideration from AAP, agrees to assume AAP's obligations as to certain convertible debentures it had previously issued, then the escrowed shares will be issued to the debenture holders that elect to convert their debentures to Able common stock, with any remaining escrowed shares to be released to AAP. The Board's determination to assume the convertible debentures will be based on whether or not the debenture holders elect to convert their respective debentures into shares of Able's common stock and the additional consideration to be provided by AAP. In the event that the debenture holders do not elect to convert or the Board does not agree to assume the debenture obligations, then all of the shares held in escrow will be released to AAP. After Able issues the shares to AAP, Able will have 14,808,090 shares of common stock issued and outstanding (which includes the 1,666,667 shares held in escrow), of which 11 million shares (not including the shares held in escrow), or approximately 74.3% of Able's outstanding shares, will be owned by AAP. The closing price of Able's common stock on Tuesday, May 29, 2007 was $1.62. Both AAP and its controlling stockholder have agreed to a voting lock-up of the shares that AAP holds in Able regarding election of member's of Able's Board until such time as AAP and its majority stockholder no longer hold a majority of Able's issued and outstanding shares of common stock. Mr. Frost stated that, "I am excited about resuming my duties as CEO. We are very pleased by the overwhelming support of our shareholders in approving the AAP acquisition and energized by the prospect of combining our Company with AAP's assets. The combination will result in an increase of Able's annualized revenues from $75 million to approximately $270 million and provide Able with revenue year-round. The combination will also enable us to cross-market all of our energy products while at the same time reducing our operating costs. The AAP facilities will provide Able with additional distribution points for the sale of home heating oil, bioheat, and biodiesel fuel to commercial and residential customers". Able is a holding company for five operating subsidiaries, which are engaged in the retail distribution of, and the provision of services relating to home heating oil, diesel fuel, kerosene, and in addition, Able provides complete HVAC installation and repair. This announcement includes forward-looking statements based on current expectations. Opinions, forecasts, projections or statements other than statements of historical fact, are forward-looking statements that involve risks and uncertainties. Although Able Energy, Inc. (the "Company") believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that such expectations will prove to be correct. Actual results may differ materially due to a number of reasons, including without limitation, regulatory approvals, the possibility of continuing operating losses, the costs of future or current projects, the Company's ability to integrate the assets of All American Plazas, Inc., the ability to adapt to rapid technological change, the receipt and fulfillment of new orders for current products, the timely introduction and market acceptance of new products and the ability to establish and maintain strategic partner relationships, competition, general market conditions, and other risks detailed in the Company's filings with the Securities and Exchange Commission. You can find the Company's filings with the Securities and Exchange Commission at WWW.ABLEENERGY.COM or at WWW.SEC.GOV. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. For information contact: Gregory D. Frost, CEO or Christopher Westad, President (973) 625-1012
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1107563-000114420408038798-v119228_ex99-2
EX-99.2 3 v119228_ex99-2.htm Exhibit 99.2 Press Release Source: Sinoenergy Corporation Sinoenergy Corporation Sells Giant Power International for $10.68 Million Monday June 30, 8:00 am ET BEIJING, June 30 /Xinhua-PRNewswire-FirstCall/ - Sinoenergy Corporation (OTC Bulletin Board: SNEN - News; "Sinoenergy" or the "Company"), a manufacturer of compressed natural gas (CNG) vehicle and gas station equipment, developer of CNG processing capabilities, and builder and operator of retail CNG filling stations in the People's Republic of China, today announced that it signed an agreement ("Agreement") to sell its ownership of Giant Power International, Limited ("GPI") to Greka SNU, Ltd. ("Greka") for $10.68 million in cash. The transaction will be closed by the end of June 2008. Sinoenergy acquired 100% of the stock in GPI for $8.75 million in January 2008. GPI is a Hong Kong based holding company that invests in CNG processing and wholesaling businesses located in China. Joint with PetroChina Hengran Petro-Gas Company Limited, GPI invested in four CNG processing and wholesaling businesses in the cities of Zhengzhou in Henan province, Wuhu in Anhui province, Nanjing, and Nanjing Xixia in Jiangsu province, each of which owns a large-scale CNG wholesale processing plant. GPI directly or indirectly owns stakes ranging from 9% to 35% in these four processing and wholesaling businesses. Greka, a China based mining company, is a wholly owned subsidiary of Green Dragon Gas Ltd. (AIM: GDG), a Chinese oil and gas company. Greka's principal activities are oil and gas exploration, development and production. Its operations focus on coal bed methane and liquefied natural gas. According to the Agreement, upon the completion of the transaction, Greka committed to grant priority to Sinoenergy to purchase natural gas from GPI invested mother stations in Zhengzhou and Anhui at the fair market price; and Sinoenergy agreed to have the priority to sell its CNG container and related equipment to Greka at the fair market price. Both commitments have a term of three years unless extended by the parties. "We will invest all the money we receive from this sale into developing our own CNG processing plants and our retail CNG filling station network in Central and Eastern China", said Mr. Bo Huang, CEO of Sinoenergy Corporation. "Selling GPI will not affect our ability to operate a network of retail CNG filling stations because in 2007 we obtained annual natural gas supply quotas of 400 million cubic meters from Sino-Pec and 120 million cubic meters from Petro-China. Also, the mutual agreement between Greka and Sinoenergy to share each other's advantages in material and product procurement process will benefit our CNG container and relevant equipment manufacturing business". About Sinoenergy Corporation Sinoenergy is a manufacturer of compressed natural gas (CNG) vehicle and gas station equipment. The Company designs and manufactures a wide variety of pressure containers for use in different industries including the petroleum and chemical industries, the metallurgy and electricity generation industries, and the food and brewery industries. Along with developing CNG processing capabilities for itself, the Company builds and operates retail CNG filling stations in Central and Eastern China. Safe Harbor Statement This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, future changes in the wholesale and retail price for CNG for vehicles in China; changes in policy by the national, provincial and municipal government of the PRC regarding CNG prices, the CNG vehicle industry, the construction and operation of retail CNG filling stations and related issues; the Company's ability to raise additional capital to finance the Company's activities; the effectiveness, profitability, and the marketability of its products; the future trading of the common stock of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. For more information, please contact: Sinoenergy Corporation Mr. Anlin Xiong, Vice President Phone: +86-10-8493-2965 Ext 860 Email: anlinxiong@sinoenergycorporation.com Web: http://www.sinoenergycorporation.com CCG Elite Investor Relations Inc. Mr. Crocker Coulson, President Phone: +1-646-213-1915 (New York) Email: crocker.coulson@ccgir.com Web: http://www.ccgelite.com
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"\"", "Agreement", "\"", ")", "to", "sell", "its", "ownership", "of", "Giant", "Power", "International", ",", "Limited", "(", "\"", "GPI", "\"", ")", "to", "Greka", "SNU", ",", "Ltd", ".", "(", "\"", "Greka", "\"", ")", "for", "$", "10.68 million", "in", "cash", ".", "The", "transaction", "will", "be", "closed", "by", "the", "end", "of", "June", "2008", ".", "Sinoenergy", "acquired", "100", "%", "of", "the", "stock", "in", "GPI", "for", "$", "8.75 million", "in", "January", "2008", ".", "GPI", "is", "a", "Hong", "Kong", "based", "holding", "company", "that", "invests", "in", "CNG", "processing", "and", "wholesaling", "businesses", "located", "in", "China", ".", "Joint", "with", "PetroChina", "Hengran", "Petro", "-", "Gas", "Company", "Limited", ",", "GPI", "invested", "in", "four", "CNG", "processing", "and", "wholesaling", "businesses", "in", "the", "cities", "of", "Zhengzhou", "in", "Henan", "province", ",", "Wuhu", "in", "Anhui", "province", ",", "Nanjing", ",", "and", "Nanjing", "Xixia", "in", "Jiangsu", "province", ",", "each", "of", "which", "owns", "a", "large", "-", "scale", "CNG", "wholesale", "processing", "plant", ".", "GPI", "directly", "or", "indirectly", "owns", "stakes", "ranging", "from", "9", "%", "to", "35", "%", "in", "these", "four", "processing", "and", "wholesaling", "businesses", ".", "Greka", ",", "a", "China", "based", "mining", "company", ",", "is", "a", "wholly", "owned", "subsidiary", "of", "Green", "Dragon", "Gas", "Ltd", ".", "(", "AIM", ":", "GDG", ")", ",", "a", "Chinese", "oil", "and", "gas", "company", ".", "Greka", "'s", "principal", "activities", "are", "oil", "and", "gas", "exploration", ",", "development", "and", "production", ".", "Its", "operations", "focus", "on", "coal", "bed", "methane", "and", "liquefied", "natural", "gas", ".", "According", "to", "the", "Agreement", ",", "upon", "the", "completion", "of", "the", "transaction", ",", "Greka", "committed", "to", "grant", "priority", "to", "Sinoenergy", "to", "purchase", "natural", "gas", "from", "GPI", "invested", "mother", "stations", "in", "Zhengzhou", "and", "Anhui", "at", "the", "fair", "market", "price", ";", "and", "Sinoenergy", "agreed", "to", "have", "the", "priority", "to", "sell", "its", "CNG", "container", "and", "related", "equipment", "to", "Greka", "at", "the", "fair", "market", "price", ".", "Both", "commitments", "have", "a", "term", "of", "three", "years", "unless", "extended", "by", "the", "parties", ".", "\"", "We", "will", "invest", "all", "the", "money", "we", "receive", "from", "this", "sale", "into", "developing", "our", "own", "CNG", "processing", "plants", "and", "our", "retail", "CNG", "filling", "station", "network", "in", "Central", "and", "Eastern", "China", "\"", ",", "said", "Mr", ".", "Bo", "Huang", ",", "CEO", "of", "Sinoenergy", "Corporation", ".", "\"", "Selling", "GPI", "will", "not", "affect", "our", "ability", "to", "operate", "a", "network", "of", "retail", "CNG", "filling", "stations", "because", "in", "2007", 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"industries", ",", "and", "the", "food", "and", "brewery", "industries", ".", "Along", "with", "developing", "CNG", "processing", "capabilities", "for", "itself", ",", "the", "Company", "builds", "and", "operates", "retail", "CNG", "filling", "stations", "in", "Central", "and", "Eastern", "China", ".", "Safe", "Harbor", "Statement", "This", "announcement", "contains", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "safe", "harbor", "provisions", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "All", "statements", "other", "than", "statements", "of", "historical", "fact", "in", "this", "announcement", "are", "forward", "-", "looking", "statements", ",", "including", "but", "not", "limited", "to", ",", "future", "changes", "in", "the", "wholesale", "and", "retail", "price", "for", "CNG", "for", "vehicles", "in", "China", ";", "changes", "in", "policy", "by", "the", "national", ",", "provincial", "and", 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"crocker.coulson@ccgir.com", "Web", ":", "http://www.ccgelite.com" ]
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1416876-000157570515000059-ex99_1
EX-99.1 2 ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 FIRST CHOICE HEALTHCARE ANNOUNCES ADDITION OF CRANE CREEK SURGERY CENTER TO ITS GROWING NETWORK OF MEDICAL CENTERS OF EXCELLENCE IN FLORIDA MELBOURNE, FL - (Market Wired) - November 2, 2015 - First Choice Healthcare Solutions, Inc. (OTCQB:FCHS) ("FCHS," "First Choice" or the "Company"), a diversified holding company focused on delivering clinically superior, patient-centric, multi-specialty care through state-of-the-art medical centers of excellence, today announced that Melbourne, Florida-based Crane Creek Surgery Center ("Crane Creek") has joined First Choice's growing network of Medical Centers of Excellence in the State of Florida. Established in 2009, Crane Creek is an AAAHC accredited facility dedicated to delivering excellent, ambulatory surgical care in a convenient, comfortable outpatient environment. The modern 18,000+ square foot facility is located in Melbourne, Florida within the Crane Creek Medical Center building, which is also home to Osler Medical and The B.A.C.K. Center. Crane Creek's facility houses four state-of-the-art operating rooms and a procedure room; with capacity and capability to host 4,000-5,000 orthopaedic, spine, interventional pain and general surgical procedures each year. First Choice's newly formed subsidiary CCSC Holdings, Inc. ("CCSC Holdings") acquired a 40% interest in Crane Creek. The other owners are CCSC TBC Group, LLC ("TBC Group"), owned by Richard Hynes, M.D., FASC and Devin Datta, M.D.; and Blue Chip Surgical Center Partners , which develops and manages 17 world class ambulatory surgery centers across the United States. Drs. Hynes and Datta are both affiliated with The B.A.C.K. Center , a First Choice medical center of excellence in Melbourne, Florida. Blue Chip Surgical Center Partners President Jay Rom stated, "We are thrilled to be affiliated with First Choice and to be part of the First Choice Healthcare network of medical centers. With the addition of First Choice and the ongoing affiliation with The B.A.C.K. Center, Crane Creek Surgery Center will continue to be a center of excellence for spine, orthopaedic and interventional pain care. Moreover, based on average orthopaedic revenue per case benchmarks established for ambulatory surgery centers of this size, we look forward to working closely with our partners to optimize the revenue growth opportunity for Crane Creek, which has the capacity and capability to reach and exceed $10-$15 million each year". Together, CCSC Holdings and TBC Group own 75% interest in Crane Creek. In accordance with the Crane Creek Restated and Amended Operating Agreement, CCSC Holdings will exercise sufficient control over the business of Crane Creek that will allow First Choice to treat it as a variable interest entity, effective October 1, 2015. As a result, First Choice will include the financial results of Crane Creek in its consolidated financial statements in accordance with generally accepted accounting principles as if it were a wholly-owned subsidiary. Dr. Hynes has been appointed as Crane Creek's Medical Board president and as medical director. Christian Romandetti, First Choice Chairman and CEO, added, "We are very pleased to again be expanding our network of centers of excellence serving Florida's Space Coast. Crane Creek represents a truly ideal complement to our orthopaedic, spine, neurology and interventional pain care medical operations in the region, allowing us to strategically redirect surgical cases stemming from both First Choice Medical Group and The B.A.C.K. Center to Crane Creek. In addition, providing our valued patients with greater comfort, convenience and direct access to superb outpatient surgical facilities will go a long way in helping us to ensure that positive outcomes are consistently optimized, and medical costs are contained. 2015 is definitely proving to be banner year for First Choice, and we couldn't possibly be any prouder or more excited about what the future holds for our Company." For more detailed information and terms of the transaction, please refer to the related Form 8-K to be filed with the U.S. Securities & Exchange Commission today and accessible at www.sec.gov . About First Choice Healthcare Solutions, Inc. Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) is actively engaged in developing a network of multi-specialty medical centers of excellence throughout the southeastern U.S., which are distinguished as premier destinations for clinically superior, patient-centric care. Serving Florida's Space Coast, FCHS' Centers of Excellence include First Choice Medical Group of Brevard (FCMG), which specializes in the delivery of neurological and musculoskeletal medicine, and ancillary services; Brevard Orthopaedic Spine & Pain Center, Inc., dba The B.A.C.K. Center, which focuses on orthopaedic spine and interventional pain medicine; and Crane Creek Surgery Center, an AAAHC accredited outpatient surgical center which hosts orthopaedic, spine, interventional pain and general surgical procedures. FCHS' commercial real estate interests are managed by its wholly owned subsidiary, FCID Holdings, Inc. For more information, please visit www.myfchs.com, www.myfcmg.com, www.thebackcenter.net and www.cranecreeksurgerycenter.com . Safe Harbor Statement Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of First Choice Healthcare Solutions, Inc. Such forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events. For additional information, please contact: Investor Relations at WallStreetWriter 407-878-5945 or FCHS@wallstreetwriter.com
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1053352-000110465907049383-a07-17151_1ex99d1
EX-99.1 7 a07-17151_1ex99d1.htm EX-99.1 Exhibit 99.1 HERITAGE COMMERCE CORP For additional information, contact: Rebecca Levey , SVP Marketing Direct: (408) 494-4513 For Immediate Release: June 20, 2007 Heritage Commerce Corp Completes Acquisition of Diablo Valley Bank SAN JOSE, California - June 20, 2007 - Heritage Commerce Corp (NASDAQ: HTBK), parent company of Heritage Bank of Commerce, today announced the completion of its acquisition of Diablo Valley Bank, (OTCBB: DBVB). The combined banks now have over $1.3 billion in assets and 11 banking offices. "We welcome Diablo Valley Bank's customers, employees and shareholders to the Heritage family", said Walter Kaczmarek, President and Chief Executive Officer of Heritage Commerce Corp. "While the Diablo name will change to Heritage Bank of Commerce, Diablo Valley Banking Region , its core values of integrity, efficient service, relationship building and service to the community will not. We will remain focused on building solid banking relationships and being good corporate neighbors as we continue providing the personal service that has become a tradition at both banks". The transaction is valued at approximately $65,400,000, including payments for cancellation of options for Diablo Valley Bank common stock. Diablo Valley Bank shareholders are receiving a per share consideration of $23.00, as the average closing price for Heritage Commerce Corp's common stock for the 20 trading days ending five trading days prior to closing was valued at $23.8970. Accordingly, Heritage Commerce Corp is paying approximately $24,000,000 in cash and issuing 1,732,298 shares of Heritage Commerce Corp's common stock in exchange for all outstanding Diablo Valley Bank shares and stock options. The exchange ratio for the Heritage Commerce Corp stock is 0.9625. Prior to closing, Diablo Valley Bank redeemed all of its outstanding Series A Preferred Stock for an aggregate of approximately $6,700,000 cash (including dividend payments). About Heritage Commerce Corp Heritage Commerce Corp, a bank holding company established in February 1998, is the parent company of Heritage Bank of Commerce, established in 1994 and headquartered in San Jose with offices in Los Gatos, Fremont, Danville, Morgan Hill, Gilroy, Mountain View, and Los Altos Heritage Bank of Commerce is also an SBA Preferred Lender, operating from offices in San Jose, Chico, Fremont, Clovis, Jackson, Elk Grove, and Watsonville, California. Forward-Looking Statements Disclaimer Discussions contained or incorporated by reference in this filing or the exhibits that are not statements of historical fact are forward-looking statements that involve risks and uncertainties including, with out limitation, (i) statements relating to the benefits of the proposed merger of Heritage Bank of Commerce and Diablo Valley Bank (the "Merger"), including future financial and operating results, cost savings, enhanced revenues and the accretion / dilution to reported earnings that may be realized from the Merger, (ii) statements regarding certain Heritage Bank of Commerce and Diablo Valley Bank goals and expectations with respect to earnings, earnings per share, revenue, expenses and the growth rate in such items, as well as other measures of economic performance, including statements relating to estimates of credit quality trends, and (iii) statements preceded by, followed by or that include the words "may, "could", should, "would", believe", "anticipate", "estimate", "expect", "intend", "plan", or similar expressions. These statements are based on current beliefs and expectations of the management of Heritage Commerce Corp and/or Diablo Valley Bank and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the risk that the business of Diablo Valley Bank will not be integrated successfully or will be more difficult, time-consuming or costly than expected; deposit attrition and other disruption from the Merger making it more difficult to maintain relationships with customers, employees or suppliers; the risk that synergies from the Merger may not be fully realized or may take longer to realize than expected; competition and its effect on pricing, spending, third-party relationships and revenues; the strength of the United States Economy in general, competition in the financial services market for both deposits and loans as well as regional and general economic conditions; and Heritage's ability to successfully complete consolidation and conversion activities, incorporate acquisitions into its operations, retain key employees, increase its customer base, achieve cost savings and successfully generate commercial, consumer and real estate loans. Additional factors that may affect future results are contained in Heritage's filings with the SEC, which are available at the SEC's web site http://www.sec.gov, including in Heritage's Annual Report on Form 10-K for the year ended December 31, 2006, under the heading "Risk Factors." Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. All subsequent written and oral forward-looking statements or other matters attributable to Heritage Commerce Corp or Heritage Bank of Commerce or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Heritage undertakes no responsibility to update or publicly revise any forward-looking statements to reflect subsequent events or circumstances.
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"Valley", "Bank", "'s", "customers", ",", "employees", "and", "shareholders", "to", "the", "Heritage", "family", "\"", ",", "said", "Walter", "Kaczmarek", ",", "President", "and", "Chief", "Executive", "Officer", "of", "Heritage", "Commerce", "Corp", ".", "\"", "While", "the", "Diablo", "name", "will", "change", "to", "Heritage", "Bank", "of", "Commerce", ",", "Diablo", "Valley", "Banking", "Region", ",", "its", "core", "values", "of", "integrity", ",", "efficient", "service", ",", "relationship", "building", "and", "service", "to", "the", "community", "will", "not", ".", "We", "will", "remain", "focused", "on", "building", "solid", "banking", "relationships", "and", "being", "good", "corporate", "neighbors", "as", "we", "continue", "providing", "the", "personal", "service", "that", "has", "become", "a", "tradition", "at", "both", "banks", "\"", ".", "The", "transaction", "is", "valued", "at", "approximately", "$", "65,400,000", ",", "including", "payments", "for", "cancellation", 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"outstanding", "Series", "A", "Preferred", "Stock", "for", "an", "aggregate", "of", "approximately", "$", "6,700,000", "cash", "(", "including", "dividend", "payments", ")", ".", "About", "Heritage", "Commerce", "Corp", "Heritage", "Commerce", "Corp", ",", "a", "bank", "holding", "company", "established", "in", "February", "1998", ",", "is", "the", "parent", "company", "of", "Heritage", "Bank", "of", "Commerce", ",", "established", "in", "1994", "and", "headquartered", "in", "San", "Jose", "with", "offices", "in", "Los", "Gatos", ",", "Fremont", ",", "Danville", ",", "Morgan", "Hill", ",", "Gilroy", ",", "Mountain", "View", ",", "and", "Los", "Altos", "Heritage", "Bank", "of", "Commerce", "is", "also", "an", "SBA", "Preferred", "Lender", ",", "operating", "from", "offices", "in", "San", "Jose", ",", "Chico", ",", "Fremont", ",", "Clovis", ",", "Jackson", ",", "Elk", "Grove", ",", "and", "Watsonville", ",", "California", ".", "Forward", "-", "Looking", "Statements", "Disclaimer", "Discussions", "contained", "or", "incorporated", "by", "reference", "in", "this", "filing", "or", "the", "exhibits", "that", "are", "not", "statements", "of", "historical", "fact", "are", "forward", "-", "looking", "statements", "that", "involve", "risks", "and", "uncertainties", "including", ",", "with", "out", "limitation", ",", "(", "i", ")", "statements", "relating", "to", "the", "benefits", "of", "the", "proposed", "merger", "of", "Heritage", "Bank", "of", "Commerce", "and", "Diablo", "Valley", "Bank", "(", "the", "\"", "Merger", "\"", ")", ",", "including", "future", "financial", "and", "operating", "results", ",", "cost", "savings", ",", "enhanced", "revenues", "and", "the", "accretion", "/", "dilution", "to", "reported", "earnings", "that", "may", "be", "realized", "from", "the", "Merger", ",", "(", "ii", ")", "statements", "regarding", "certain", "Heritage", "Bank", "of", "Commerce", "and", "Diablo", "Valley", "Bank", "goals", "and", "expectations", "with", "respect", "to", "earnings", ",", "earnings", "per", "share", ",", "revenue", ",", "expenses", "and", "the", "growth", "rate", "in", "such", "items", ",", "as", "well", "as", "other", "measures", "of", "economic", "performance", ",", "including", "statements", "relating", "to", "estimates", "of", "credit", "quality", "trends", ",", "and", "(", "iii", ")", "statements", "preceded", "by", ",", "followed", "by", "or", "that", "include", "the", "words", "\"", "may", ",", "\"", "could", "\"", ",", "should", ",", "\"", "would", "\"", ",", "believe", "\"", ",", "\"", "anticipate", "\"", ",", "\"", "estimate", "\"", ",", "\"", "expect", "\"", ",", "\"", "intend", "\"", ",", "\"", "plan", "\"", ",", "or", "similar", "expressions", ".", "These", "statements", "are", "based", "on", "current", "beliefs", "and", "expectations", "of", "the", "management", "of", "Heritage", "Commerce", "Corp", "and", "/", "or", "Diablo", "Valley", "Bank", "and", "are", "subject", "to", "significant", "risks", "and", "uncertainties", ".", "Actual", "results", "may", "differ", "materially", "from", "those", "set", "forth", "in", "the", "forward", "-", "looking", "statements", ".", "The", "following", "factors", ",", "among", "others", ",", "could", "cause", "actual", "results", "to", "differ", "from", "those", "set", "forth", "in", "the", "forward", "-", "looking", "statements", ":", "the", "risk", "that", "the", "business", "of", "Diablo", "Valley", "Bank", "will", "not", "be", "integrated", "successfully", "or", "will", "be", "more", "difficult", ",", "time", "-", "consuming", "or", "costly", "than", "expected", ";", "deposit", "attrition", "and", "other", "disruption", "from", "the", "Merger", "making", "it", "more", "difficult", "to", "maintain", "relationships", "with", "customers", ",", "employees", "or", "suppliers", ";", "the", "risk", "that", "synergies", "from", "the", "Merger", "may", "not", "be", "fully", "realized", "or", "may", "take", "longer", "to", "realize", "than", "expected", ";", "competition", "and", "its", "effect", "on", "pricing", ",", "spending", ",", "third", "-", "party", "relationships", "and", "revenues", ";", "the", "strength", "of", "the", "United", "States", "Economy", "in", "general", ",", "competition", "in", "the", "financial", "services", "market", "for", "both", "deposits", "and", "loans", "as", "well", "as", "regional", "and", "general", "economic", "conditions", ";", "and", "Heritage", "'s", "ability", "to", "successfully", "complete", "consolidation", "and", "conversion", "activities", ",", "incorporate", "acquisitions", "into", "its", "operations", ",", "retain", "key", "employees", ",", "increase", "its", "customer", "base", ",", "achieve", "cost", "savings", "and", "successfully", "generate", "commercial", ",", "consumer", "and", "real", "estate", "loans", ".", "Additional", "factors", "that", "may", "affect", "future", "results", "are", "contained", "in", "Heritage", "'s", "filings", "with", "the", "SEC", ",", "which", "are", "available", "at", "the", "SEC", "'s", "web", "site", "http://www.sec.gov", ",", "including", "in", "Heritage", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "year", "ended", "December", "31", ",", "2006", ",", "under", "the", "heading", "\"", "Risk", "Factors", ".", "\"", "Readers", "should", "not", "place", "undue", "reliance", "on", "the", "forward", "-", "looking", "statements", ",", "which", "reflect", "management", "'s", "view", "only", "as", "of", "the", "date", "hereof", ".", "All", "subsequent", "written", "and", "oral", "forward", "-", "looking", "statements", "or", "other", "matters", "attributable", "to", "Heritage", "Commerce", "Corp", "or", "Heritage", "Bank", "of", "Commerce", "or", "any", "person", "acting", "on", "their", "behalf", "are", "expressly", "qualified", "in", "their", "entirety", "by", "the", "cautionary", "statements", "above", ".", "Heritage", "undertakes", "no", "responsibility", "to", "update", "or", "publicly", "revise", "any", "forward", "-", "looking", "statements", "to", "reflect", "subsequent", "events", "or", "circumstances", "." ]
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1169770-000141588913001298-ex99-07022013_120711
EX-99 2 ex99-07022013_120711.htm Secconnect.com First PacTrust Bancorp , Inc. Completes Acquisition of The Private Bank of California - First PacTrust ' s total assets exceed $3 billion with branches throughout Southern California and loan production offices in five western states. - The Private Bank of California merged into First PacTrust ' s subsidiary Beach Business Bank, with the resulting bank named The Private Bank of California. - Transaction is expected to be immediately accretive to core earnings. IRVINE, California, July 1, 2013 - First PacTrust Bancorp, Inc . (Nasdaq: BANC) ( " First PacTrust " ), the multi-bank holding company for Pacific Trust Bank and Beach Business Bank ( " Beach " ), today announced that First PacTrust has completed the acquisition of The Private Bank of California. The acquisition was accomplished by merging The Private Bank of California into Beach. Upon closing of the transaction, Beach was renamed " The Private Bank of California. " Steven Sugarman , C hief E xecutive O fficer of First PacTrust , stated " We are thrilled to welcome The Private Bank of California and its talented employees to our organization. The closing of this transaction is an important step for First PacTrust, which now exceeds $3 billion in consolidated assets . First PacTrust is increasingly well positioned to serve the banking needs of the most attractive depositors in the most desirable markets of Los Angeles, Orange and San Diego counties. " FIG Partners, LLC act ed as financial adviser to First PacTrust and Wachtell, Lipton, Rosen & Katz serv ed as legal counsel for this transaction. Milestone Advisors act ed as financial adviser to The Private Bank of California and King, Holmes, Paterno & Berliner, LLP serv ed as its legal counsel. About First PacTrust Bancorp Based in Irvine, Calif., First PacTrust Bancorp, Inc. is the multi-bank holding company of Pacific Trust Bank and The Private Bank of California , with assets that exceed $3 billion operating banking offices in California ' s Los Angeles, Orange, San Diego and Riverside counties, and loan production offices in California, Arizona, Oregon, Montana and Washington. Forward-Looking Statements This press release includes forward-looking statements within the meaning of the " Safe-Harbor " provisions of the Private Securities Litigation Reform Act of 1995. These statements are necessarily subject to risk and uncertainty and actual results could differ materially from those anticipated due to various factors, including those set forth from time to time in the First PacTrust ' s filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements and the First PacTrust undertakes no obligation to update any such statements to reflect circumstances or events that occur after the date on which the forward-looking statement is made. Source: First PacTrust Bancorp, Inc. Investor Relations Inquiries: First PacTrust Bancorp, Inc. Richard Herrin, 949-236-5300
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201461-000110465909071058-a09-35708_1ex99d1
EX-99.1 3 a09-35708_1ex99d1.htm EX-99.1 Exhibit 99.1 NEWS FOR IMMEDIATE RELEASE December 18, 2009 Contacts: Financial/Investors Christopher J. Carey, City National, 310.888.6777 Chris.Carey@cnb.com Media Cary Walker, City National, 213.673.7615 (cell: 213.447.8269) Cary.Walker@cnb.com City National Acquires Banking Operations of Imperial Capital Bank Adds $3.4 Billion in Assets and $2.2 Billion in Deposits LOS ANGELES - City National Corporation (NYSE: CYN) today announced that its wholly owned subsidiary, City National Bank, has acquired the banking operations of La Jolla, Calif.-based Imperial Capital Bank in a purchase and assumption agreement with the Federal Deposit Insurance Corporation (FDIC). City National will acquire approximately $3.4 billion in assets and approximately $2.2 billion of deposits, including $500 million of core deposits, as of September 30, 2009. Imperial Capital Bank's $2.6 billion in loans will be subject to a loss-sharing agreement with the FDIC. City National expects the acquisition to be immediately accretive to earnings per share. "Imperial Capital Bank is a very good fit for City National, given that eight of its nine locations are in communities we serve", said Chief Executive Officer Russell Goldsmith. "When we complete the integration, Imperial Capital's clients will benefit from the much greater capabilities and services of City National, and the clients of City National will enjoy the added convenience of an expanded branch network. In addition, we're pleased to contribute to the increased stability of the banking system with an acquisition that will enable City National to become a somewhat larger and more efficient and profitable company". Today's acquisition announcement follows a decision by the California Department of Financial Institutions to close Imperial Capital and appoint the FDIC as receiver. Imperial Capital's $2.2 billion of deposits include $500 million in core deposits and $1.7 billion in certificates of deposit. Its assets include $2.6 billion in loans, which consist of approximately $1.6 billion in multi-family residential loans, $600 million in commercial real estate and commercial and industrial loans, and $400 million in construction loans. - more - Imperial Capital Bank's nine branches will reopen for normal business hours on Monday, December 21. They will continue to operate under Imperial Capital's name until the company's systems are merged with those of City National Bank in the first half of 2010. Until then, Imperial Capital's clients should use the same branches they do today. Imperial Capital's depositors will benefit from the strength and soundness of City National Bank, and their deposit accounts will remain insured by the FDIC, just as they were before the acquisition. Imperial Capital's clients will retain complete access to their money, and they may continue to write checks and use their ATM and debit cards. Checks drawn on Imperial Capital Bank will continue to be processed. Loan customers should continue to make their payments as usual. ABOUT CITY NATIONAL Headquartered in Los Angeles, City National is backed by $18.4 billion in total assets. The company provides banking, investment and trust services through 64 offices, including 16 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada and New York City. City National and its eight majority-owned investment affiliates manage or administer $53.4 billion in client investment assets, including nearly $35 billion under direct management. For more information about City National, visit the company's Website at cnb.com. ABOUT IMPERIAL CAPITAL Imperial Capital Bank was organized in 1974, and today it offers personal and business banking products and services through branch locations in San Francisco, Encino, Glendale, Beverly Hills, Costa Mesa, and San Diego, California; Carson City and Las Vegas, Nevada; and Baltimore, Maryland. Its parent company, Imperial Capital Bancorp, trades over-the-counter under the symbol "IMPC." For more information on Imperial Capital Bancorp, go to www.icbancorp.com. SAFE-HARBOR LANGUAGE This news release contains forward-looking statements about the company, for which the company claims the protection of the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's knowledge and belief as of today and include information concerning the company's possible or assumed future financial condition, and its results of operations, business and earnings outlook. These forward-looking statements are subject to risks and uncertainties. A number of factors, some of which are beyond the company's ability to control or predict, could cause future results to differ materially from those contemplated by such forward-looking statements. These factors include (1) continuation or worsening of current recessionary conditions, (2) continued volatility and disruption in the functioning of financial markets, including the 2 capital and credit markets, (3) significant changes in banking laws or regulations, including without limitation, broad-based restructuring of financial industry regulation and as a result of the Emergency Economic Stabilization Act and the creation of and possible amendments to the Troubled Asset Relief Program (TARP), and rules and regulations issued thereunder, including the TARP Standards for Compensation and Corporate Governance, (4) the ongoing budget crisis in the State of California, (5) continued weakness in the real estate market, including the markets for commercial and residential real estate, which may affect, among other things, the level of nonperforming assets, charge-offs and provision expense, (6) continued volatility in equity, fixed income and other market valuations, (7) changes in market rates and prices which may adversely impact the value of financial products including securities, loans, deposits, debt and derivative financial instruments, and other similar financial instruments, (8) changes in the interest rate environment and market liquidity which may reduce interest margins and impact funding sources, (9) increased competition in the company's markets, (10) changes in the financial performance and/or condition of the company's borrowers, including changes in levels of unemployment, changes in customers' suppliers, and other counterparties' performance and creditworthiness, (11) a substantial and permanent loss of either client accounts and/or assets under management at the company's investment advisory affiliates or its wealth management division, (12) changes in consumer spending, borrowing and savings habits, (13) soundness of other financial institutions which could adversely affect the company, (14) increases and required prepayments in Federal Deposit Insurance Corporation premiums due to market developments and regulatory changes, (15) protracted labor disputes in the company's markets, (16) earthquake, fire or other natural disasters affecting the condition of real estate collateral, (17) the effect of acquisitions and integration of acquired businesses and de novo branching efforts, (18) the impact of changes in regulatory, judicial or legislative tax treatment of business transactions, (19) changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or regulatory agencies, and (20) the success of the company at managing the risks involved in the foregoing. Forward-looking statements speak only as of the date they are made, and the company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the statements are made, or to update earnings guidance, including the factors that influence earnings. For a more complete discussion of these risks and uncertainties, see the company's Annual Report on Form 10-K for the year ended December 31, 2008 and particularly Part I, Item 1A, titled "Risk Factors". # # # 3
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"by", "$", "18.4 billion", "in", "total", "assets", ".", "The", "company", "provides", "banking", ",", "investment", "and", "trust", "services", "through", "64", "offices", ",", "including", "16", "full", "-", "service", "regional", "centers", ",", "in", "Southern", "California", ",", "the", "San", "Francisco", "Bay", "Area", ",", "Nevada", "and", "New", "York", "City", ".", "City", "National", "and", "its", "eight", "majority", "-", "owned", "investment", "affiliates", "manage", "or", "administer", "$", "53.4 billion", "in", "client", "investment", "assets", ",", "including", "nearly", "$", "35 billion", "under", "direct", "management", ".", "For", "more", "information", "about", "City", "National", ",", "visit", "the", "company", "'s", "Website", "at", "cnb.com", ".", "ABOUT", "IMPERIAL", "CAPITAL", "Imperial", "Capital", "Bank", "was", "organized", "in", "1974", ",", "and", "today", "it", "offers", "personal", "and", "business", "banking", "products", "and", "services", "through", 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"'s", "knowledge", "and", "belief", "as", "of", "today", "and", "include", "information", "concerning", "the", "company", "'", "s", "possible", "or", "assumed", "future", "financial", "condition", ",", "and", "its", "results", "of", "operations", ",", "business", "and", "earnings", "outlook", ".", "These", "forward", "-", "looking", "statements", "are", "subject", "to", "risks", "and", "uncertainties", ".", "A", "number", "of", "factors", ",", "some", "of", "which", "are", "beyond", "the", "company", "'s", "ability", "to", "control", "or", "predict", ",", "could", "cause", "future", "results", "to", "differ", "materially", "from", "those", "contemplated", "by", "such", "forward", "-", "looking", "statements", ".", "These", "factors", "include", "(", "1", ")", "continuation", "or", "worsening", "of", "current", "recessionary", "conditions", ",", "(", "2", ")", "continued", "volatility", "and", "disruption", "in", "the", "functioning", "of", "financial", "markets", ",", "including", 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"of", "the", "company", "'s", "borrowers", ",", "including", "changes", "in", "levels", "of", "unemployment", ",", "changes", "in", "customers", "'", "suppliers", ",", "and", "other", "counterparties", "'", "performance", "and", "creditworthiness", ",", "(", "11", ")", "a", "substantial", "and", "permanent", "loss", "of", "either", "client", "accounts", "and", "/", "or", "assets", "under", "management", "at", "the", "company", "'s", "investment", "advisory", "affiliates", "or", "its", "wealth", "management", "division", ",", "(", "12", ")", "changes", "in", "consumer", "spending", ",", "borrowing", "and", "savings", "habits", ",", "(", "13", ")", "soundness", "of", "other", "financial", "institutions", "which", "could", "adversely", "affect", "the", "company", ",", "(", "14", ")", "increases", "and", "required", "prepayments", "in", "Federal", "Deposit", "Insurance", "Corporation", "premiums", "due", "to", "market", "developments", "and", "regulatory", "changes", ",", "(", "15", ")", "protracted", "labor", "disputes", "in", "the", "company", "'s", "markets", ",", "(", "16", ")", "earthquake", ",", "fire", "or", "other", "natural", "disasters", "affecting", "the", "condition", "of", "real", "estate", "collateral", ",", "(", "17", ")", "the", "effect", "of", "acquisitions", "and", "integration", "of", "acquired", "businesses", "and", "de", "novo", "branching", "efforts", ",", "(", "18", ")", "the", "impact", "of", "changes", "in", "regulatory", ",", "judicial", "or", "legislative", "tax", "treatment", "of", "business", "transactions", ",", "(", "19", ")", "changes", "in", "accounting", "policies", "or", "procedures", "as", "may", "be", "required", "by", "the", "Financial", "Accounting", "Standards", "Board", "or", "regulatory", "agencies", ",", "and", "(", "20", ")", "the", "success", "of", "the", "company", "at", "managing", "the", "risks", "involved", "in", "the", "foregoing", ".", "Forward", "-", "looking", "statements", "speak", "only", "as", "of", "the", "date", "they", "are", "made", ",", "and", "the", "company", "does", "not", "undertake", "to", "update", "forward", "-", "looking", "statements", "to", "reflect", "circumstances", "or", "events", "that", "occur", "after", "the", "date", "the", "statements", "are", "made", ",", "or", "to", "update", "earnings", "guidance", ",", "including", "the", "factors", "that", "influence", "earnings", ".", "For", "a", "more", "complete", "discussion", "of", "these", "risks", "and", "uncertainties", ",", "see", "the", "company", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "year", "ended", "December", "31", ",", "2008", "and", "particularly", "Part", "I", ",", "Item", "1A", ",", "titled", "\"", "Risk", "Factors", "\"", ".", "#", "#", "#", "3" ]
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1011290-000114036112002491-ex99_1
EX-99.1 4 ex99_1.htm EXHIBIT 99.1 ex99_1.htm Exhibit 99.1 ARES MANAGEMENT, CANADA PENSION PLAN INVESTMENT BOARD AND GOLD/SCHIFFER FAMILY COMPLETE ACQUISITION OF 99¢ ONLY STORES City of Commerce, CA- January 13, 2012 - 99¢ Only Stores® (NYSE: NDN) (the "Company") today announced the completion of its acquisition by affiliates of Ares Management LLC, Canada Pension Plan Investment Board ("CPPIB") and the Gold/Schiffer Family for $22.00 per share in cash. The transaction was approved by the affirmative vote of more than 82.46% of the outstanding shares of the Company's common stock at a special meeting of shareholders held on January 12, 2012. The Company's common stock will be delisted from the New York Stock Exchange. Lazard Freres & Co. LLC acted as financial advisor to the Special Committee of the Company, and Morrison & Foerster LLP acted as the Special Committee's legal counsel. Guggenheim Securities, LLC and Skadden, Arps, Slate, Meagher & Flom LLP acted as advisors to the Gold/Schiffer family. RBC Capital Markets, BMO Capital Markets and Deutsche Bank Securities provided committed financing for the transaction. Proskauer Rose LLP acted as legal advisor to the acquirer and Ares, and Torys LLP acted as legal advisor to CPPIB. Munger, Tolles & Olson LLP acted as counsel to the Company. About the Company Founded in 1982, 99¢ Only Stores® currently operates 292 extreme value retail stores consisting of 214 stores in California, 36 in Texas, 29 in Arizona, and 13 in Nevada. 99¢ Only Stores® emphasizes quality name-brand consumables, priced at an excellent value, in convenient, attractively merchandised stores. Over half of the Company's sales come from food and beverages, including produce, dairy, deli and frozen foods, along with organic and gourmet foods. About Ares Management LLC Ares Management LLC is a global alternative asset manager and SEC registered investment adviser with approximately $47 billion of committed capital under management and approximately 480 employees as of December 31, 2011. The firm is headquartered in Los Angeles with professionals also located across the United States, Europe and Asia and has the ability to invest in all levels of a company's capital structure - from senior debt to common equity. The firm's investment activities are managed by dedicated teams in its Private Equity, Private Debt and Capital Markets investment platforms. Ares Management was built upon the fundamental principle that each platform benefits from being part of the greater whole. This multi-asset class synergy provides its professionals with insights into industry trends across the globe, access to significant deal flow and the ability to assess relative value. The Ares Private Equity Group pursues majority or shared-control investments, principally in middle market companies with strong business franchises and in situations where its capital can serve as a catalyst for growth. Ares Management's private equity senior partners average more than 20 years of experience investing in, controlling, advising, and restructuring companies. For additional information, visit www.aresmgmt.com. About Canada Pension Plan Investment Board CPPIB is a professional investment management organization that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 17 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, inflation-linked bonds, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in London and Hong Kong, CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At September 30, 2011, the CPP Fund totaled C$152 billion, of which C$25 billion was invested in private equity. For more information about CPPIB, please visit www.cppib.ca. Contacts : For 99¢ Only Stores: Angela Thurstan, (323) 881-1272 For Ares Management LLC: Bill Mendel, Mendel Communications, (212) 397-1030, bill@mendelcommunications.com For Canada Pension Plan Investment Board: Linda Sims, Director, Media Relations, (416) 868-8695, lsims@cppib.ca
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830736-000117091805000656-ex99-1c
EX-99 13 ex99-1c.txt EX-99.1 EXHIBIT 99.1 FOR IMMEDIATE RELEASE XTRANA, INC. AND ALPHA INNOTECH CORPORATION ANNOUNCE CLOSING OF REVERSE MERGER TRANSACTION, 1-FOR-10 REVERSE STOCK SPLIT AND NAME CHANGE October 4, 2005 -- XTRANA, Inc. (OTCBB: XTRN) and Alpha Innotech Corporation announced the closing, effective of as October 3, 2005, of the previously announced reverse merger transaction. Pursuant to an Agreement and Plan of Merger, Alpha Innotech Corporation was merged with a wholly-owned subsidiary of Xtrana, with Alpha Innotech Corporation being the surviving operating entity and becoming a wholly-owned subsidiary of Xtrana. As a result of the closing, the historical business operations of Alpha Innotech will comprise Xtrana's principal business operations going forward. Alpha Innotech was founded in 1992 and is headquartered in San Leandro, California. Alpha Innotech develops, manufactures and markets digital imaging and detection systems for the life science research and drug discovery markets. Alpha Innotech's goal is to combine instruments, reagents and bioinformatics software to offer integrated modular technology platforms for the electrophoresis, functional genomics, proteomics and cell analysis markets. Alpha Innotech had revenues of $10.5 million for the fiscal year ended December 31, 2004 and expects revenues to increase at least 15% for the year ending December 31, 2005 as compared to the prior year. Pursuant to the merger, all outstanding capital stock of Alpha Innotech Corporation was converted into the right to receive shares of Xtrana common stock and all outstanding Alpha Innotech Corporation stock options and warrants were converted into options and warrants to purchase Xtrana common stock. As a result of the merger, the former Alpha Innotech shareholders now hold approximately 83% of the outstanding common stock of the combined company and stockholders who held Xtrana common stock immediately prior to the merger now hold approximately 17% of the issued and outstanding common stock (excluding options and warrants). Alpha Innotech shareholders approved the merger earlier this month by written consent. Xtrana stockholders approved the merger at the annual stockholders meeting held yesterday. Additional information about the merger transaction, and Alpha Innotech Corporation, can be found in Xtrana's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on August 12, 2005. In connection with the closing of the merger, Haseeb Chaudhry was appointed as the Chief Executive Officer of the Company and Darryl Ray, PhD, was appointed as the President, Chief Operating Officer and Acting Chief Financial Officer. In addition, in connection with the closing of the merger, the following directors were appointed as members of the Board of Directors: Haseeb Chaudhry, Darryl Ray, PhD, Nagesh Mahtre, PhD, and William Snider, in addition to two continuing directors of Xtrana, Michael D. Bick, Ph.D. and James H. Chamberlain. "We are very pleased with the results of the vote", stated Darryl Ray, President of the combined company. "We believe the merger will provide Alpha Innotech access to additional resources needed to implement our plans to grow our business through the introduction of innovative products for the life science and drug discovery markets". REVERSE STOCK SPLIT AND NAME CHANGE In connection with the merger, Xtrana shareholders also approved a one-for-ten reverse stock split and a proposal to change the name of the corporation from Xtrana, Inc. to Alpha Innotech Corp. The reverse stock split and name change were effective yesterday pursuant to a Certificate of Amendment to the Company's Certificate of Incorporation filed with the Delaware Secretary of State. The post-reverse-stock-split common stock of the Company is anticipated to start trading on the NASD Over-the-Counter Bulletin Board under the name Alpha Innotech Corp. on October 6, 2005. FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements (identified by the words "estimate", "anticipate", "expect", "believe", and similar expressions), which are based upon management's current expectations and speak only as of the date made. These forward-looking statements are subject to risks, uncertainties and factors that could cause actual results to differ materially from the results anticipated in the forward-looking statements and include, but are not limited to, the timing of the introduction and success of new products by Alpha Innotech Corporation, Alpha Innotech Corporation's growth prospects, as well as other factors discussed in Xtrana's latest SEC Reports on Form 8-K, Form 10-KSB and Forms 10-QSB. CONTACT: Darryl Ray President Alpha Innotech Corporation (510) 483-9620 Dray@aicemail.com
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858800-000092708917000351-pr
EX-99.1 3 pr.htm PRESS RELEASE EXHIBIT 99.1 Emclaire Financial Corp 612 Main Street ♦ Emlenton, PA 16373-0046 Phone: (844) 767-2311/FAX: (724) 867-9326 P R E S S R E L E A S E RELEASE DATE: CONTACT: Monday, October 2, 2017 William C. Marsh Chairman, President and Chief Executive Officer Emclaire Financial Corp Phone: (844) 800-2193 Email: investor.relations@farmersnb.com Emclaire Financial Corp Announces Completion of its Acquisition of Northern Hancock Bank and Trust Co. Emlenton, PA, October 2, 2017 - Emclaire Financial Corp (NASDAQ: EMCF) (Emclaire), the parent holding company of The Farmers National Bank of Emlenton (Farmers National), announced today that, as of September 30, 2017, they have completed the acquisition of Northern Hancock Bank and Trust Co., Newell, West Virginia (Northern Hancock). The transaction has expanded Emclaire's franchise into Hancock County, West Virginia and increased Emclaire's consolidated total assets and total deposits to approximately $750 million and $629 million, respectively. The merger is expected to be immediately accretive to Emclaire's earnings for the remainder of 2017, excluding one-time charges, and 6% accretive to 2018 earnings and higher in future years. No additional capital was needed to complete the transaction and Emclaire and Farmers National remain "well-capitalized" institutions for regulatory purposes. William C. Marsh, Chairman, President and Chief Executive Officer of Emclaire and Farmers National, stated, "We are pleased to welcome all Northern Hancock depositors and customers to the Emclaire family. We are excited to expand our franchise into the upper panhandle of West Virginia and look forward to building upon and enhancing the customer relationships that Northern Hancock developed over the years. We believe we can provide Northern Hancock customers with a broader array of banking services, including expanded commercial and consumer lending capabilities and a more robust array of depository products and services. The acquisition of Northern Hancock, near the proposed Shell cracker plant in adjacent Beaver County, along with the recent opening of our new full-service banking office in Aspinwall, Pennsylvania (a Pittsburgh suburb) reflects our strategy to profitably grow our banking franchise in desirable contiguous markets". Mark A. Mangano, President and Chief Executive Officer of Northern Hancock, said, "We are pleased to have joined forces with Emclaire and Farmers National. We are excited about the new products and services that will be available to our customers". Silver, Freedman, Taff & Tiernan LLP, Washington, DC acted as legal counsel to Emclaire in the transaction. Keevican, Weiss, Bauerle & Hirsh, LLC, Pittsburgh, Pennsylvania acted as legal counsel and Renaissance Partners, LLC acted as financial advisor to Northern Hancock. Emclaire Financial Corp Press Release Page 2 About Emclaire Financial Corp Emclaire Financial Corp is the parent company of The Farmers National Bank of Emlenton, an independent, nationally chartered, FDIC-insured community bank headquartered in Emlenton, Pennsylvania, operating 18 full service offices in Pittsburgh and in Venango, Butler, Clarion, Clearfield, Crawford, Elk, Jefferson and Mercer counties, Pennsylvania as well as Hancock county, West Virginia. Emclaire's common stock is quoted on and traded through the NASDAQ Capital Market under the symbol "EMCF". For more information, visit Emclaire's website at "www.emclairefinancial.com". Forward-looking Statements: This release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements do not relate strictly to historical or current facts. Forward-looking statements reflect management's current views and estimates of future economic circumstances, industry conditions, company performance and financial results. They often include the words "believe", "expect", "anticipate", "intend", "plan", "estimate" or words of similar meaning, or future or conditional verbs such as "will", "would", "should", "could" or "may." Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors - many of which are beyond our control - could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Forward-looking statements regarding the transaction are based upon currently available information. Actual results could differ materially from those indicated in forward-looking statements. Among other factors, actual results may differ from those described in forward-looking statements due to: the anticipated benefits from the proposed transaction are not realized in the time frame anticipated or at all as a result of changes in general economic and market conditions, interest rates, laws and regulations and their enforcement, and the degree of competition in our markets; the ability to promptly and effectively integrate the businesses of the companies; the reaction of the companies' customers to the transaction; diversion of management time on merger-related issues; changes in asset quality and credit risk; the inability to sustain revenue and earnings; and competitive conditions. Emclaire's Annual Report on Form 10-K and other reports filed with the SEC describe some additional factors which could cause actual conditions, events or results to differ significantly from those described in forward-looking statements. Forward-looking statements speak only as of the date they are made. Copies of Emclaire's reports filed with the SEC are available in the Financial Information section of Emclaire's website, www.emclairefinancial.com. We do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made or to reflect the occurrence of unanticipated events.
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"earnings", "and", "higher", "in", "future", "years", ".", "No", "additional", "capital", "was", "needed", "to", "complete", "the", "transaction", "and", "Emclaire", "and", "Farmers", "National", "remain", "\"", "well", "-", "capitalized", "\"", "institutions", "for", "regulatory", "purposes", ".", "William", "C", ".", "Marsh", ",", "Chairman", ",", "President", "and", "Chief", "Executive", "Officer", "of", "Emclaire", "and", "Farmers", "National", ",", "stated", ",", "\"", "We", "are", "pleased", "to", "welcome", "all", "Northern", "Hancock", "depositors", "and", "customers", "to", "the", "Emclaire", "family", ".", "We", "are", "excited", "to", "expand", "our", "franchise", "into", "the", "upper", "panhandle", "of", "West", "Virginia", "and", "look", "forward", "to", "building", "upon", "and", "enhancing", "the", "customer", "relationships", "that", "Northern", "Hancock", "developed", "over", "the", "years", ".", "We", "believe", "we", "can", "provide", "Northern", "Hancock", 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1466085-000156459021060503-irt-ex991_6
EX-99.1 3 irt-ex991_6.htm EX-99.1 irt-ex991_6.htm Exhibit 99.1 Independence Realty Trust and Steadfast Apartment REIT Complete Strategic Merger PHILADELPHIA, PA and IRVINE, CA, December 16, 2021 -- (BUSINESS WIRE) -- Independence Realty Trust, Inc. (NYSE: IRT) ("IRT") and Steadfast Apartment REIT, Inc. ("STAR") today announced the completion of the merger transaction between the two companies, forming a combined company with an equity market capitalization of approximately $5.6 billion and a total enterprise value of approximately $8.3 billion, as of market close on December 15, 2021. The transaction was previously approved by both companies' stockholders at their respective special meetings held on December 13, 2021. The combined company, headquartered in Philadelphia, Pennsylvania, will retain the Independence Realty Trust name and will trade under the existing ticker symbol "IRT" on the New York Stock Exchange. "We are excited to announce the successful completion of our merger with STAR, together forming a leading public multifamily REIT focused on the high-growth U.S. Sunbelt region", said Scott F. Schaeffer, IRT's Chairman and CEO. "Our combined company creates a best-in-class operating platform, further redevelopment opportunities and notable economies of scale in markets where we expect to benefit from strong growth fundamentals. We remain on-track to generate approximately $28 million in annual synergies and realize the immediate accretion to Core FFO per share. Our future is bright as we unite two high-quality portfolios in attractive non-gateway markets, and look to strengthen and expand our business, while delivering long-term value for our stakeholders". Leadership and Organization Concurrently with the completion of the merger, the number of directors on IRT's Board of Directors was increased to 10, and five incumbent directors of the STAR Board of Directors, Stephen R. Bowie, Ned W. Brines, Ana Marie del Rio, Ella S. Neyland and Thomas H. Purcell, joined the following five incumbent directors of the IRT Board of Directors, Scott F. Schaeffer, Richard D. Gebert, Melinda H. McClure, DeForest Blake Soaries Jr., and Lisa Washington. Scott F. Schaeffer continues to serve as CEO and Chairman of the Board of Directors. James J. Sebra continues to serve as Chief Financial Officer of the combined company. Farrell Ender continues to serve as President of the combined company. Jessica Norman, formerly IRT's Executive Vice President and General Counsel, serves as Chief Legal Officer of the combined company. Ella S. Neyland, formerly STAR's President, Chief Financial Officer and Treasurer, joined the combined company as its Chief Operating Officer. The Merger As a result of the merger, each former share of STAR common stock has been converted into 0.905 shares of newly issued IRT common stock, and cash in lieu of fractional shares. On a pro forma basis former STAR common stockholders hold approximately 47% of the combined company's common equity, with continuing IRT common stockholders holding approximately 53% of the combined company. Portfolio Optimization and Capital Allocation Update As part of the merger, IRT identified nine assets to sell in order to manage market concentrations. In the fourth quarter of 2021, five assets were sold, two from the legacy IRT portfolio and three from STAR, while the remaining four legacy IRT assets are expected to be disposed of during the first quarter of 2022. IRT expects to receive total gross proceeds of approximately $404 million for the nine assets sold, representing an economic cap rate of approximately 3.8%. Proceeds from these non-core asset sales, along with proceeds received from IRT's July forward equity offering totaling approximately $271.8 million will be used to pay down debt of the combined company. Advisors Barclays is acting as lead financial advisor and BMO Capital Markets is acting as financial advisor, and Troutman Pepper Hamilton Sanders LLP is acting as legal advisor to IRT. RBC Capital Markets and Robert A. Stanger & Co. are acting as financial advisors, and Morrison & Foerster LLP is acting as legal advisor to STAR. About IRT Independence Realty Trust (NYSE: IRT) is a real estate investment trust that owns and operates multifamily apartment properties across non-gateway U.S. markets, including Atlanta, Dallas, Louisville, Memphis, Raleigh and Tampa. IRT's investment strategy is focused on gaining scale within key amenity rich submarkets that offer good school districts, high-quality retail and major employment centers. IRT aims to provide stockholders attractive risk-adjusted returns through diligent portfolio management, strong operational performance, and a consistent return on capital through distributions and capital appreciation. More information may be found on IRT's website www.irtliving.com . Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. These forward-looking statements, which are based on current expectations, estimates and projections about the industry and markets in which the combined company operates and beliefs of and assumptions made by IRT management, involve uncertainties that could significantly affect the financial results of the combined company. Words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", and variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. Such forward-looking statements include, but are not limited to, statements about the anticipated benefits of the merger, including future financial and operating results, and the combined company's plans, objectives, expectations and intentions. All statements that address financial and operating performance, events or developments that we expect or anticipate will occur or be achieved in the future are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: risks related to the impact of COVID-19 and other potential future outbreaks of infectious diseases on our financial condition, results of operations, cash flows and performance and those of our residents as well as on the economy and real estate and financial markets; changes in market demand for rental apartment homes and pricing pressures, including from competitors, that could limit our ability to lease units or increase rents or that could lead to declines in occupancy and rent levels; uncertainty and volatility in capital and credit markets, including changes that reduce availability, and increase costs, of capital; inability of tenants to meet their rent and other lease obligations and charge-offs in excess of our allowance for bad debt; legislative restrictions that may delay or limit collections of past due rents; risks endemic to real estate and the real estate industry generally; impairment charges; the effects of natural and other disasters; delays in completing, and cost overruns incurred in connection with, our value add initiatives and failure to achieve projected rent increases and occupancy levels on account of the initiatives; any effects of the completion of the merger, including failure to realize the cost savings, synergies and other benefits expected to result from the merger; the ability to successfully integrate the IRT and STAR businesses; unexpected costs of REIT qualification compliance; unexpected changes in our intention or ability to repay certain debt prior to maturity; inability to sell certain assets within the time frames or at the pricing levels expected; costs and disruptions as the result of a cybersecurity incident or other technology disruption; and share price fluctuations those additional risks and factors discussed in reports filed with the Securities and Exchange Commission by IRT from time to time, including those discussed under the heading "Risk Factors" in our most recently filed reports on Forms 10-K and 10-Q. We undertake no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as may be required by law. Independence Realty Trust, Inc. Contact Edelman Financial Communications & Capital Markets Ted McHugh and Lauren Torres 917-365-7979 IRT@edelman.com Source: Independence Realty Trust, Inc.
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3116-000110465920111583-tm2032215d1_ex99-1
EX-99.1 2 tm2032215d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Press Release Akorn Successfully Completes Sale to Lenders and Exits Chapter 11 Protection Company positioned to enter its next phase of growth with new ownership and a more sustainable capital structure LAKE FOREST, Ill., Oct. 1, 2020 -- Akorn, a leading specialty pharmaceutical company ("Akorn" or the "Company") , today announced the successful completion of its sale to certain of the Company's term loan lenders, which was approved by the United States Bankruptcy Court for the District of Delaware (the " Bankruptcy Court ") on September 2, 2020. This milestone marks the culmination of Akorn's Chapter 11 cases, with the Company well-positioned to continue to fulfill its mission to improve patients' lives through the quality, availability and affordability of its products. In tandem with the completion of the sale, Akorn's long-term debt has been cut by more than half, and the Company has secured a revolving credit line to ensure a stronger balance sheet and operating flexibility as it looks to enter a new phase of growth. Doug Boothe, Akorn's President and Chief Executive Officer, commented, "Today marks the start of an exciting new chapter for Akorn. We are moving forward with significantly reduced debt, better cash flow, strong operations and a diverse product portfolio that positions Akorn well for long-term growth and a brighter future in the years to come. Our ability to achieve the goals we set at the beginning of our restructuring process is a testament to the hard work and support of our associates, as well as the dedicated partnership of our lenders, customers and suppliers throughout this process". Following the official completion of the transaction, Akorn is now operating as a private entity under the legal name of Akorn Operating Company LLC. Cautionary Note Regarding Forward-Looking Statements This press release includes statements that may constitute "forward-looking statements", including those regarding the Company's long-term business plan and outlook. A number of important factors could cause actual results of the Company and its subsidiaries to differ materially from those indicated by such forward-looking statements and readers should not place undue reliance on the Company's forward-looking statements. These forward-looking statements are based on information, plans and estimates at the date of this release. The Company undertakes no obligation to update any forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes. About Akorn: Akorn develops, manufactures and markets specialty pharmaceuticals, including prescription, consumer health and animal health products. As an industry leader in branded and generic products in alternate dosage forms such as ophthalmics, injectables, oral liquids, otics, topicals, inhalants and nasal sprays, we focus each day on our mission to improve lives, through the quality, availability and affordability of our products. Additional information is available on Akorn's website at www.akorn.com . Media: Akorn@fticonsulting.com
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1013237-000143774916034838-ex99-1
EX-99.1 3 ex99-1.htm EXHIBIT 99.1 ex99-1.htm Exhibit 99.1 News Release For Immediate Release Contact: Rachel Stern FactSet Research Systems Inc. 203.810.1000 FactSet Completes Sale of Market Metrics Business and Updates Fourth Quarter Fiscal 2016 Guidance NORWALK, Conn., July 5, 2016 - FactSet Research Systems Inc. (NYSE:FDS) (NASDAQ:FDS), a leading provider of integrated financial information and analytical applications, today announced it has completed the sale of its market research business, consisting of Market Metrics and Matrix Solutions, to Asset International, a portfolio company of Genstar Capital. Upon completion of the sale on July 1, 2016, FactSet received $165 million in cash, less certain adjustments including, among others, a customary working capital adjustment. Upon the achievement of certain growth targets over the next two years by the market research business that has been sold, FactSet would be entitled to an additional earn-out of $10 million. Updated Business Outlook for the Fourth Quarter of Fiscal 2016 The following forward-looking statements reflect FactSet's expectations as of today's date. Given the risk factors, uncertainties and assumptions discussed below, actual results may differ materially. FactSet does not intend to update its forward-looking statements until its next quarterly results announcement, other than in publicly available statements. Fourth Quarter Fiscal 2016 Expectations: ● Revenues are expected to range between $286 million and $292 million. ● GAAP operating margin is expected to range between 31.0% and 32.0%. Adjusted operating margin is expected to range between 32.5% and 33.5%. ● The annual effective tax rate is expected to range between 28.0% and 29.0%. ● GAAP diluted EPS should range between $1.61 and $1.65. Adjusted EPS is expected to range between $1.68 and $1.72. The midpoint of the adjusted EPS range represents 12.6% growth over the prior year. $120 Million Accelerated Share Repurchase Program On July 1, 2016 FactSet entered into an accelerated share repurchase agreement with Bank of America, N.A. ("BofA") to repurchase $120 million of FactSet's common stock. This agreement was entered into pursuant to FactSet's previously announced $165 million share repurchase program approved by FactSet's Board of Directors on May 19, 2016. FactSet expects to receive from BofA approximately 0.6 million shares of FactSet's common stock on July 5, 2016. At final settlement of the agreement, which is expected to occur no later than the first quarter of fiscal 2017 and may occur earlier in certain circumstances, BofA may be required to deliver additional shares of common stock to FactSet, or, under certain circumstances, FactSet may be required to deliver shares of its common stock or may elect to make a cash payment to BofA, with the number of shares to be delivered or the amount of such payment based on the volume-weighted average price of FactSet's common stock during the term of the transaction and subject to adjustments pursuant to the terms of the agreement. About FactSet FactSet delivers the world's best insight and information to investment professionals through superior analytics, service, content, and technology. More than 63,000 users make smarter investment decisions with FactSet's desktop analytics, mobile applications, and comprehensive data feeds. FactSet is also an honoree of Fortune's 100 Best Companies to Work For and a Best Workplace Award recipient in the United Kingdom and France. FactSet is listed on the New York Stock Exchange and NASDAQ (NYSE:FDS | NASDAQ:FDS). 1 News Release For Immediate Release Contact: Rachel Stern FactSet Research Systems Inc. 203.810.1000 Forward-looking Statements This news release contains forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development, market position, subscriptions, expected expenditures and financial results are forward-looking statements. Forward-looking statements may be identified by words like "expects", "anticipates", "plans", "intends", "projects", "should", "indicates", "continues", "subscriptions" and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in FactSet's filings with the Securities and Exchange Commission, particularly its latest annual report on Form 10-K and quarterly reports on Form 10-Q, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to: the current status of the global economy; the ability to integrate newly acquired companies and businesses; the stability of global securities markets; the ability to hire qualified personnel; the maintenance of the Company's leading technological position; the impact of global market trends on the Company's revenue growth rate and future results of operations; the negotiation of contract terms with corporate vendors, data suppliers and potential landlords; the retention of key clients; the successful resolution of ongoing audits by tax authorities; the continued employment of key personnel; the absence of U.S. or foreign governmental regulation restricting international business; and the sustainability of historical levels of profitability and growth rates in cash flow generation. 2
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850261-000114420417022859-v465350_ex99-1
EX-99.1 4 v465350_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Sorrento Therapeutics Announces Closing of its Acquisition of Virttu Biologics SAN DIEGO, April 28, 2017 - Sorrento Therapeutics, Inc. (NASDAQ: SRNE, "Sorrento") announced today the closing of a transaction whereby its cellular therapy focused subsidiary, TNK Therapeutics, Inc. ("TNK"), has acquired Virttu Biologics Limited ("Virttu"). As announced by Sorrento on November 16, 2016, TNK and Virttu entered into a binding term sheet setting forth the terms and conditions by which TNK would purchase all of the issued and outstanding equity of Virttu. In consideration for the acquisition, Virttu equity holders received an aggregate of 797,081 shares of common stock of Sorrento based on a $5.55 price per share and reimbursement of certain legal fees and will be eligible to receive an additional approximately $20 million in stock of TNK shares should TNK close a third party equity financing of at least $50 million in proceeds within 12 months of the closing of this transaction. If a financing in TNK has not occurred within 12 months of the closing of this transaction, the equity holders of Virttu will be issued an aggregate of approximately 3,600,000 of Sorrento common stock based on a $5.55 price of Sorrento common stock. Additionally, Virttu will be eligible to receive two additional milestone payments of up to $10 million based on the two first marketing authorizations of Seprehvir® to occur in the US, EU or Japan. Each of the two marketing authorization milestone payments will be for $5 million payable in cash, Sorrento common stock, the common stock of another publicly traded company, or a combination thereof to be determined by TNK at the time that a regulatory milestone is triggered. Virttu, based in Glasgow, Scotland, is a privately-held biopharmaceutical company focused on the development of oncolytic virus therapy for the treatment of cancer. Virttu's lead product candidate Seprehvir® (HSV1716) is derived from a modified version of the common human herpes simplex virus (HSV-1). Seprehvir® has been designed with the ability to specifically target and destroy tumor cells while also stimulating an anti-tumor T-cell mediated immune response. As part of its global clinical program, Seprehvir® has been administered to over 100 adult and pediatric patients in a variety of solid tumors including glioblastoma, mesothelioma, melanoma, head and neck cancer, pediatric sarcomas and pediatric neuroblastomas. Sorrento believes that a key advantage of Seprehvir®, as compared to other HSV based oncolytic therapies, is that it has been safely administered systemically, intravenously, intratumorally and by loco-regional infusion to specifically tailor the therapy to a patient's needs. In the 5 completed Phase I studies, Seprehvir® was well tolerated, with fever, fatigue and lethargy reported as mild (Grade 1 and 2) and transient. There were no major toxicities associated with Seprehvir® and no reactivations of latent HSV infection. "With the acquisition of Virttu, we are adding another clinical-stage asset to our pipeline of immunotherapies. Due to its unique characteristics, we believe Seprehvir® has the potential for broad therapeutic application across various cancer indications and will be synergistic with TNK and Sorrento clinical candidates, including our checkpoint inhibitors and cellular therapies. We are currently evaluating both monotherapy and antibody combination studies utilizing Seprehvir® in both adult and pediatric patients as well as seeking regulatory guidance for this program. We expect to initiate a Phase II clinical study of Seprehvir® after these discussions." said Dr. Henry Ji, President and CEO of Sorrento. "We believe in Seprehvir® and its ability to treat and help cancer patients worldwide. I would like to thank the inventor of the technology, Professor Moira Brown OBE, our dedicated scientists and my investors. We are very pleased that Sorrento will be our partner in taking Seprehvir® to the next phase of its journey, to become an approved treatment against cancer" said David Crossland, investor in Virttu. "We are delighted to announce the completion of TNK's acquisition of Virttu. The combination of our oncolytic backbone combined with Sorrento's extensive G-MAB™ fully human antibody library represents a powerful union for the next generation of multi-modality immunotherapies. We look forward to working closely on developing Seprehvir®'s approval pathway and moving our next generation into the clinic" Daniel Young, Chief Commercial Officer of Virttu. About Sorrento Therapeutics, Inc. Sorrento is an antibody-centric, clinical stage biopharmaceutical company developing new treatments for immuno-oncology, inflammation and autoimmune diseases. Sorrento's lead product candidates include immunotherapies focused on the treatment of both solid tumors and hematological malignancies, as well as late stage pain products. About TNK Therapeutics, Inc. TNK Therapeutics is a subsidiary of Sorrento Therapeutics that is focused on the development and commercialization of cellular therapies to address unmet medical needs in oncology. TNK technologies harness the adaptive and innate immune system by reprogramming immune cells to recognize and efficiently kill cancer cells. TNK's most advanced cellular therapy is T-007, a proprietary, second generation anti-CD38 CAR-T therapy, which is in IND-enabling studies for the treatment of multiple myeloma. T-007 is based on a fully human anti-CD38 mAb derived from Sorrento's G-MAB antibody library. Forward-Looking Statements This press release and any statements made for and during any presentation or meeting contain forward-looking statements related to Sorrento Therapeutics, Inc. and its subsidiaries under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995 and subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements regarding the developments of and prospects for the field of oncolytic therapies and Virttu Biologic's technologies and products, including Seprehvir®; Sorrento's expectations for its technologies and acquisitions; Sorrento's expectations for any of its clinical programs and studies; Sorrento's and its subsidiaries' prospects; and other matters that are described in Sorrento's most recent periodic reports filed with the Securities and Exchange Commission, including Sorrento's Annual Report on Form 10-K for the year ended December 31, 2015, as amended, and Quarterly Report on Form 10-Q for the quarter ended September 30, 2016, including the risk factors set forth in those filings. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release and we undertake no obligation to update any forward-looking statement in this press release except as required by law. Sorrento® and the Sorrento logo are registered trademarks of Sorrento Therapeutics, Inc. All other trademarks and trade names are the property of their respective owners. Logo - http://photos.prnewswire.com/prnh/20150105/167173LOGO SOURCE: Sorrento Therapeutics, Inc. © 2017 Sorrento Therapeutics, Inc. All Rights Reserved. Contacts: Kevin Herde Executive Vice President & Chief Financial Officer Tel: (858) 210-3736 kherde@sorrentotherapeutics.com Miranda Toledano Executive Vice President, Corporate Development Tel: (858) 210-3700 mtoledano@sorrentotherapeutics.com
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"common", "stock", "based", "on", "a", "$", "5.55", "price", "of", "Sorrento", "common", "stock", ".", "Additionally", ",", "Virttu", "will", "be", "eligible", "to", "receive", "two", "additional", "milestone", "payments", "of", "up", "to", "$", "10 million", "based", "on", "the", "two", "first", "marketing", "authorizations", "of", "Seprehvir", "®", "to", "occur", "in", "the", "US", ",", "EU", "or", "Japan", ".", "Each", "of", "the", "two", "marketing", "authorization", "milestone", "payments", "will", "be", "for", "$", "5 million", "payable", "in", "cash", ",", "Sorrento", "common", "stock", ",", "the", "common", "stock", "of", "another", "publicly", "traded", "company", ",", "or", "a", "combination", "thereof", "to", "be", "determined", "by", "TNK", "at", "the", "time", "that", "a", "regulatory", "milestone", "is", "triggered", ".", "Virttu", ",", "based", "in", "Glasgow", ",", "Scotland", ",", "is", "a", "privately", "-", "held", "biopharmaceutical", "company", "focused", "on", "the", "development", "of", "onco", "lytic", "virus", "therapy", "for", "the", "treatment", "of", "cancer", ".", "Virttu", "'s", "lead", "product", "candidate", "Seprehvir", "®", "(", "HSV1716", ")", "is", "derived", "from", "a", "modified", "version", "of", "the", "common", "human", "herpes", "simplex", "virus", "(", "HSV", "-", "1", ")", ".", "Seprehvir", "®", "has", "been", "designed", "with", "the", "ability", "to", "specifically", "target", "and", "destroy", "tumor", "cells", "while", "also", "stimulating", "an", "anti", "-", "tumor", "T", "-", "cell", "mediated", "immune", "response", ".", "As", "part", "of", "its", "global", "clinical", "program", ",", "Seprehvir", "®", "has", "been", "administered", "to", "over", "100", "adult", "and", "pediatric", "patients", "in", "a", "variety", "of", "solid", "tumors", "including", "glioblastoma", ",", "mesothelioma", ",", "melanoma", ",", "head", "and", "neck", "cancer", ",", "pediatric", "sarcomas", "and", "pediatric", "neuroblastomas", ".", "Sorrento", "believes", "that", "a", "key", "advantage", "of", "Seprehvir", "®", ",", "as", "compared", "to", "other", "HSV", "based", "onco", "lytic", "therapies", ",", "is", "that", "it", "has", "been", "safely", "administered", "systemically", ",", "intravenously", ",", "intratumorally", "and", "by", "loco", "-", "regional", "infusion", "to", "specifically", "tailor", "the", "therapy", "to", "a", "patient", "'s", "needs", ".", "In", "the", "5", "completed", "Phase", "I", "studies", ",", "Seprehvir", "®", "was", "well", "tolerated", ",", "with", "fever", ",", "fatigue", "and", "lethargy", "reported", "as", "mild", "(", "Grade", "1", "and", "2", ")", "and", "transient", ".", "There", "were", "no", "major", "toxicities", "associated", "with", "Seprehvir", "®", "and", "no", "reactivations", "of", "latent", "HSV", "infection", ".", "\"", "With", "the", "acquisition", "of", "Virttu", ",", "we", "are", "adding", "another", "clinical", "-", "stage", "asset", "to", "our", "pipeline", "of", "immunotherapies", ".", "Due", "to", "its", "unique", "characteristics", ",", "we", "believe", "Seprehvir", "®", "has", "the", "potential", "for", "broad", "therapeutic", "application", "across", "various", "cancer", "indications", "and", "will", "be", "synergistic", "with", "TNK", "and", "Sorrento", "clinical", "candidates", ",", "including", "our", "checkpoint", "inhibitors", "and", "cellular", "therapies", ".", "We", "are", "currently", "evaluating", "both", "monotherapy", "and", "antibody", "combination", "studies", "utilizing", "Seprehvir", "®", "in", "both", "adult", "and", "pediatric", "patients", "as", "well", "as", "seeking", "regulatory", "guidance", "for", "this", "program", ".", "We", "expect", "to", "initiate", "a", "Phase", "II", "clinical", "study", "of", "Seprehvir", "®", "after", "these", "discussions", ".", "\"", "said", "Dr", ".", "Henry", "Ji", ",", "President", "and", "CEO", "of", "Sorrento", ".", "\"", "We", "believe", "in", "Seprehvir", "®", "and", "its", "ability", "to", "treat", "and", "help", "cancer", "patients", "worldwide", ".", "I", "would", "like", "to", "thank", "the", "inventor", "of", "the", "technology", ",", "Professor", "Moira", "Brown", "OBE", ",", "our", "dedicated", "scientists", "and", "my", "investors", ".", "We", "are", "very", "pleased", "that", "Sorrento", "will", "be", "our", "partner", "in", "taking", "Seprehvir", "®", "to", "the", "next", "phase", "of", "its", "journey", ",", "to", "become", "an", "approved", "treatment", "against", "cancer", "\"", "said", "David", "Crossland", ",", "investor", "in", "Virttu", ".", "\"", "We", "are", "delighted", "to", "announce", "the", "completion", "of", "TNK", "'s", "acquisition", "of", "Virttu", ".", "The", "combination", "of", "our", "onco", "lytic", "backbone", "combined", "with", "Sorrento", "'s", "extensive", "G", "-", "MAB", "™", "fully", "human", "antibody", "library", "represents", "a", "powerful", "union", "for", "the", "next", "generation", "of", "multi", "-", "modality", "immunotherapies", ".", "We", "look", "forward", "to", "working", "closely", "on", "developing", "Seprehvir", "®", "'s", "approval", "pathway", "and", "moving", "our", "next", "generation", "into", "the", "clinic", "\"", "Daniel", "Young", ",", "Chief", "Commercial", "Officer", "of", "Virttu", ".", "About", "Sorrento", "Therapeutics", ",", "Inc", ".", "Sorrento", "is", "an", "antibody", "-", "centric", ",", "clinical", "stage", "biopharmaceutical", "company", "developing", "new", "treatments", "for", "immuno", "-", "oncology", ",", "inflammation", "and", "autoimmune", "diseases", ".", "Sorrento", "'s", "lead", "product", "candidates", "include", "immunotherapies", "focused", "on", "the", "treatment", "of", "both", "solid", "tumors", "and", "hematological", "malignancies", ",", "as", "well", "as", "late", "stage", "pain", "products", ".", "About", "TNK", "Therapeutics", ",", "Inc", ".", "TNK", "Therapeutics", "is", "a", "subsidiary", "of", "Sorrento", "Therapeutics", "that", "is", "focused", "on", "the", "development", "and", "commercialization", "of", "cellular", "therapies", "to", "address", "unmet", "medical", "needs", "in", "oncology", ".", "TNK", "technologies", "harness", "the", "adaptive", "and", "innate", "immune", "system", "by", "re", "programming", "immune", "cells", "to", "recognize", "and", "efficiently", "kill", "cancer", "cells", ".", "TNK", "'s", "most", "advanced", "cellular", "therapy", "is", "T", "-", "007", ",", "a", "proprietary", ",", "second", "generation", "anti", "-", "CD38", "CAR", "-", "T", "therapy", ",", "which", "is", "in", "IND", "-", "enabling", "studies", "for", "the", "treatment", "of", "multiple", "myeloma", ".", "T", "-", "007", "is", "based", "on", "a", "fully", "human", "anti", "-", "CD38", "mAb", "derived", "from", "Sorrento", "'s", "G", "-", "MAB", "antibody", "library", ".", "Forward", "-", "Looking", "Statements", "This", "press", "release", "and", "any", "statements", "made", "for", "and", "during", "any", "presentation", "or", "meeting", "contain", "forward", "-", "looking", "statements", "related", "to", "Sorrento", "Therapeutics", ",", "Inc", ".", "and", "its", "subsidiaries", "under", "the", "safe", "harbor", "provisions", "of", "Section", "21E", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", "and", "subject", "to", "risks", "and", "uncertainties", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "those", "projected", ".", "Forward", "-", "looking", "statements", "include", "statements", "regarding", "the", "developments", "of", "and", "prospects", "for", "the", "field", "of", "onco", "lytic", "therapies", "and", "Virttu", "Biologic", "'s", "technologies", "and", "products", ",", "including", "Seprehvir", "®", ";", "Sorrento", "'s", "expectations", "for", "its", "technologies", "and", "acquisitions", ";", "Sorrento", "'s", "expectations", "for", "any", "of", "its", "clinical", "programs", "and", "studies", ";", "Sorrento", "'s", "and", "its", "subsidiaries", "'", "prospects", ";", "and", "other", "matters", "that", "are", "described", "in", "Sorrento", "'s", "most", "recent", "periodic", "reports", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", ",", "including", "Sorrento", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "the", "year", "ended", "December", "31", ",", "2015", ",", "as", "amended", ",", "and", "Quarterly", "Report", "on", "Form", "10", "-", "Q", "for", "the", "quarter", "ended", "September", "30", ",", "2016", ",", "including", "the", "risk", "factors", "set", "forth", "in", "those", "filings", ".", "Investors", "are", "cautioned", "not", "to", "place", "undue", "reliance", "on", "these", "forward", "-", "looking", "statements", ",", "which", "speak", "only", "as", "of", "the", "date", "of", "this", "release", "and", "we", "undertake", "no", "obligation", "to", "update", "any", "forward", "-", "looking", "statement", "in", "this", "press", "release", "except", "as", "required", "by", "law", ".", "Sorrento", "®", "and", "the", "Sorrento", "logo", "are", "registered", "trademarks", "of", "Sorrento", "Therapeutics", ",", "Inc", ".", "All", "other", "trademarks", "and", "trade", "names", "are", "the", "property", "of", "their", "respective", "owners", ".", "Logo", "-", "http://photos.prnewswire.com/prnh/20150105/167173LOGO", "SOURCE", ":", "Sorrento", "Therapeutics", ",", "Inc", ".", "©", "2017", "Sorrento", "Therapeutics", ",", "Inc", ".", "All", "Rights", "Reserved", ".", "Contacts", ":", "Kevin", "Herde", "Executive", "Vice", "President", "&", "Chief", "Financial", "Officer", "Tel", ":", "(", "858", ")", "210", "-", "3736", "kherde@sorrentotherapeutics.com", "Miranda", "Toledano", "Executive", "Vice", "President", ",", "Corporate", "Development", "Tel", ":", "(", "858", ")", "210", "-", "3700", "mtoledano@sorrentotherapeutics.com" ]
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88205-000110465915067759-a15-20300_1ex99d1
EX-99.1 7 a15-20300_1ex99d1.htm EX-99.1 Exhibit 99.1 SPX Completes Spin-Off of FLOW Business To Begin Trading on the New York Stock Exchange Under New Ticker Symbol CHARLOTTE, N.C., Sept. 28, 2015 /PRNewswire/ - SPX Corporation (NYSE:SPXC) today announced that it has completed the spin-off of SPX FLOW, Inc. and will begin trading today on the New York Stock Exchange under the symbol "SPXC". SPX Corporation is led by non-executive Chairman, Patrick O'Leary and President and Chief Executive Officer, Gene Lowe. " Today marks a significant milestone in the long history of our Company and also the beginning of a new chapter as we work to grow, advance and redefine SPX Corporation", said Mr. O'Leary. "Going forward, we will have greater strategic flexibility and will also have an increased ability to attract an investor base suited to our Company's specific operational and financial characteristics". Mr. Lowe added, "W e are well-positioned with established product brands and leading positions in HVAC, Detection and Measurement and Power markets. We have a strong track record of innovation with the majority of our products designed to meet our customers' need for higher efficiency and productivity. As we move forward, we are focused on driving profitable growth, aligning our cost structure, enhancing our portfolio and executing disciplined capital allocation actions". Mr. Lowe is joined by an experienced executive team who bring extensive industry knowledge and strong functional and operational skills to SPX Corporation. They include: · Scott Sproule - Vice President, Chief Financial Officer and Treasurer · Randy Data - President, South Africa and Global Operations · John Swann - President, Weil-McLain, Marley Engineered Products and Radiodetection · John Nurkin - Vice President, Secretary and General Counsel · Tausha White - Vice President and Chief Human Resources Officer · Brian Mason - President, SPX Transformer Solutions · J.B. Ballard - President, TCI and Flash Technologies · Darren Dickson - President, Genfare · Rick Bowling - President, Power Generation · Vivek Dhir - Vice President, Marketing and Business Development About SPX Corporation: Based in Charlotte, North Carolina, SPX Corporation is a leading supplier of highly engineered HVAC products, detection and measurement technologies and power equipment. With operations in about 20 countries, SPX Corporation has approximately $2 billion in annual revenues and approximately 6,000 employees worldwide. SPX Corporation is listed on the New York Stock Exchange under the ticker symbol, "SPXC". For more information, please visit www.spx.com. Investor Contact: Paul Clegg, Vice President, Finance and Investor Relations Phone: 980-474-3704 E-mail: Paul.Clegg@spx.com SOURCE SPX Corporation.
[ "EX", "-", "99", ".", "1", "7", "a15", "-", "20300", "_", "1ex99d1", ".", "htm", "EX", "-", "99", ".", "1", "Exhibit", "99", ".", "1", "SPX", "Completes", "Spin", "-", "Off", "of", "FLOW", "Business", "To", "Begin", "Trading", "on", "the", "New", "York", "Stock", "Exchange", "Under", "New", "Ticker", "Symbol", "CHARLOTTE", ",", "N", ".", "C", ".", ",", "Sept.", "28", ",", "2015", "/", "PRNewswire", "/", "-", "SPX", "Corporation", "(", "NYSE", ":", "SPXC", ")", "today", "announced", "that", "it", "has", "completed", "the", "spin", "-", "off", "of", "SPX", "FLOW", ",", "Inc", ".", "and", "will", "begin", "trading", "today", "on", "the", "New", "York", "Stock", "Exchange", "under", "the", "symbol", "\"", "SPXC", "\"", ".", "SPX", "Corporation", "is", "led", "by", "non", "-", "executive", "Chairman", ",", "Patrick", "O'Leary", "and", "President", "and", "Chief", "Executive", "Officer", ",", "Gene", "Lowe", ".", "\"", "Today", "marks", "a", "significant", "milestone", "in", "the", "long", "history", "of", "our", "Company", "and", "also", "the", "beginning", "of", "a", "new", "chapter", "as", "we", "work", "to", "grow", ",", "advance", "and", "redefine", "SPX", "Corporation", "\"", ",", "said", "Mr", ".", "O'Leary", ".", "\"", "Going", "forward", ",", "we", "will", "have", "greater", "strategic", "flexibility", "and", "will", "also", "have", "an", "increased", "ability", "to", "attract", "an", "investor", "base", "suited", "to", "our", "Company", "'s", "specific", "operational", "and", "financial", "characteristics", "\"", ".", "Mr", ".", "Lowe", "added", ",", "\"", "W", "e", "are", "well", "-", "positioned", "with", "established", "product", "brands", "and", "leading", "positions", "in", "HVAC", ",", "Detection", "and", "Measurement", "and", "Power", "markets", ".", "We", "have", "a", "strong", "track", "record", "of", "innovation", "with", "the", "majority", "of", "our", "products", "designed", "to", "meet", "our", "customers", "'", "need", "for", "higher", "efficiency", "and", "productivity", ".", "As", "we", "move", "forward", ",", "we", "are", "focused", "on", "driving", "profitable", "growth", ",", "aligning", "our", "cost", "structure", ",", "enhancing", "our", "portfolio", "and", "executing", "disciplined", "capital", "allocation", "actions", "\"", ".", "Mr", ".", "Lowe", "is", "joined", "by", "an", "experienced", "executive", "team", "who", "bring", "extensive", "industry", "knowledge", "and", "strong", "functional", "and", "operational", "skills", "to", "SPX", "Corporation", ".", "They", "include", ":", "·", "Scott", "Sproule", "-", "Vice", "President", ",", "Chief", "Financial", "Officer", "and", "Treasurer", "·", "Randy", "Data", "-", "President", ",", "South", "Africa", "and", "Global", "Operations", "·", "John", "Swann", "-", "President", ",", "Weil-McLain", ",", "Marley", "Engineered", "Products", "and", "Radiodetection", "·", "John", "Nurkin", "-", "Vice", "President", ",", "Secretary", "and", "General", "Counsel", "·", "Tausha", "White", "-", "Vice", "President", "and", "Chief", "Human", "Resources", "Officer", "·", "Brian", "Mason", "-", "President", ",", "SPX", "Transformer", "Solutions", "·", "J", ".", "B", ".", "Ballard", "-", "President", ",", "TCI", "and", "Flash", "Technologies", "·", "Darren", "Dickson", "-", "President", ",", "Genfare", "·", "Rick", "Bowling", "-", "President", ",", "Power", "Generation", "·", "Vivek", "Dhir", "-", "Vice", "President", ",", "Marketing", "and", "Business", "Development", "About", "SPX", "Corporation", ":", "Based", "in", "Charlotte", ",", "North", "Carolina", ",", "SPX", "Corporation", "is", "a", "leading", "supplier", "of", "highly", "engineered", "HVAC", "products", ",", "detection", "and", "measurement", "technologies", "and", "power", "equipment", ".", "With", "operations", "in", "about", "20", "countries", ",", "SPX", "Corporation", "has", "approximately", "$", "2 billion", "in", "annual", "revenues", "and", "approximately", "6,000", "employees", "worldwide", ".", "SPX", "Corporation", "is", "listed", "on", "the", "New", "York", "Stock", "Exchange", "under", "the", "ticker", "symbol", ",", "\"", "SPXC", "\"", ".", "For", "more", "information", ",", "please", "visit", "www.spx.com", ".", "Investor", "Contact", ":", "Paul", "Clegg", ",", "Vice", "President", ",", "Finance", "and", "Investor", "Relations", "Phone", ":", "980", "-", "474", "-", "3704", "E", "-", "mail", ":", "Paul.Clegg@spx.com", "SOURCE", "SPX", "Corporation", "." ]
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1322866-000110465913054568-a13-16502_1ex99d4
EX-99.4 8 a13-16502_1ex99d4.htm EX-99.4 Exhibit 99.4 Kodiak Oil & Gas Corp. Completes Williston Basin Acquisition; Announces Expanded Credit Facility July 12, 2013 Kodiak Oil & Gas Corp. (NYSE: KOG), an oil and gas exploration and production company with primary assets in the Williston Basin of North Dakota, today announces the closing of the previously announced acquisition of core Bakken and Three Forks producing properties and undeveloped leasehold in the Williston Basin from Liberty Resources ("Liberty"), a Denver-based private oil and gas company. Included in the acquisition are approximately 42,000 net leasehold acres and net production of approximately 5,600 barrels of oil equivalent per day (average net production for June 2013) located in McKenzie and Williams Counties, N.D. The acquired leasehold includes 35 controlled drilling spacing units, based upon 1,280-acre units, and is 90% held by production. The southern Williams County lands, approximating 14,000 net acres, are adjacent to Kodiak's core Polar area. An additional 25,000 net acres are located in McKenzie County to the west of the Company's Koala and Smokey areas. Kodiak has also assumed Liberty's contract for one drilling rig, which has 13 months remaining on its term. The announced purchase price for the asset package was $660 million. Post-closing adjustments were $52 million, including $31 million in working capital items and $21 million of cash flow adjustments to reflect the acquisition's March 1, 2013 effective date. The Company paid an additional $20 million for acquisition costs associated with increased working interests acquired by Liberty subsequent to the effective date. Including today's acquisition, Kodiak's leasehold position in the Williston Basin is now approximately 196,000 net acres. Expanded Credit Facility The Company funded the acquisition through borrowings under its revolving credit facility. In connection with the acquisition and reflecting year-to-date completion activities, Kodiak and its lending group, led by Wells Fargo Bank, N.A., entered into an amendment to the Company's amended and restated credit agreement to increase the Company's borrowing base and aggregate commitments under its existing senior secured revolving line of credit facility to $1.1 billion. This compares to the prior-level borrowing base of $650 million. Upon closing of the acquisition, the Company's borrowings under the credit facility were $976 million. The Company continues to evaluate all available financing alternatives to support its capital requirements. About Kodiak Oil & Gas Corp. Denver-based Kodiak Oil & Gas Corp. is an independent energy exploration and development company focused on exploring, developing and producing oil and natural gas primarily in the Williston Basin in the U.S. Rocky Mountains. For further information, please visit www.kodiakog.com. The Company's common shares are listed for trading on the New York Stock Exchange under the symbol: "KOG". Forward-Looking Statements This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements in this document include statements regarding the Company's expectations as to the anticipated benefits of the acquisition transaction, expectations regarding the Company's operational, exploration and development plans. expectations regarding drilling plans, the Company's expectations regarding its anticipated capital requirements and its 2013 capital budget, and expectations regarding production, revenues, cash flows and recoveries. Factors that could cause or contribute to such differences include, but are not limited to, fluctuations in the prices of oil and gas, uncertainties inherent in estimating quantities of oil and gas reserves and projecting future rates of production and timing of development activities, competition, operating risks, acquisition risks, liquidity and capital requirements, the effects of governmental regulation, adverse changes in the market for the Company's oil and gas production, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. For further information, please contact: Mr. Lynn A. Peterson, CEO and President, Kodiak Oil & Gas Corp. +1-303-592-8075 Mr. Trevor P. Seelye, CFA, Director of Financial Planning & Investor Relations +1-720-399-3282 Mr. David P. Charles, Sierra Partners LLC +1-303-757-2510 x11
[ "EX", "-", "99", ".", "4", "8", "a13", "-", "16502", "_", "1ex99d4", ".", "htm", "EX", "-", "99", ".", "4", "Exhibit", "99", ".", "4", "Kodiak", "Oil", "&", "Gas", "Corp", ".", "Completes", "Williston", "Basin", "Acquisition", ";", "Announces", "Expanded", "Credit", "Facility", "July", "12", ",", "2013", "Kodiak", "Oil", "&", "Gas", "Corp", ".", "(", "NYSE", ":", "KOG", ")", ",", "an", "oil", "and", "gas", "exploration", "and", "production", "company", "with", "primary", "assets", "in", "the", "Williston", "Basin", "of", "North", "Dakota", ",", "today", "announces", "the", "closing", "of", "the", "previously", "announced", "acquisition", "of", "core", "Bakken", "and", "Three", "Forks", "producing", "properties", "and", "undeveloped", "leasehold", "in", "the", "Williston", "Basin", "from", "Liberty", "Resources", "(", "\"", "Liberty", "\"", ")", ",", "a", "Denver", "-", "based", "private", "oil", "and", "gas", "company", ".", "Included", "in", "the", "acquisition", "are", "approximately", "42,000", "net", "leasehold", "acres", "and", "net", "production", "of", "approximately", "5,600", "barrels of oil", "equivalent", "per", "day", "(", "average", "net", "production", "for", "June", "2013", ")", "located", "in", "McKenzie", "and", "Williams", "Counties", ",", "N", ".", "D", ".", "The", "acquired", "leasehold", "includes", "35", "controlled", "drilling", "spacing", "units", ",", "based", "upon", "1,280", "-", "acre", "units", ",", "and", "is", "90", "%", "held", "by", "production", ".", "The", "southern", "Williams", "County", "lands", ",", "approximating", "14,000", "net acres", ",", "are", "adjacent", "to", "Kodiak", "'s", "core", "Polar", "area", ".", "An", "additional", "25,000", "net acres", "are", "located", "in", "McKenzie", "County", "to", "the", "west", "of", "the", "Company", "'s", "Koala", "and", "Smokey", "areas", ".", "Kodiak", "has", "also", "assumed", "Liberty", "'", "s", "contract", "for", "one", "drilling", "rig", ",", "which", "has", "13", "months", "remaining", "on", "its", "term", ".", "The", "announced", "purchase", "price", "for", "the", "asset", "package", "was", "$", "660 million", ".", "Post", "-", "closing", "adjustments", "were", "$", "52 million", ",", "including", "$", "31 million", "in", "working", "capital", "items", "and", "$", "21 million", "of", "cash", "flow", "adjustments", "to", "reflect", "the", "acquisition", "'s", "March", "1", ",", "2013", "effective", "date", ".", "The", "Company", "paid", "an", "additional", "$", "20 million", "for", "acquisition", "costs", "associated", "with", "increased", "working", "interests", "acquired", "by", "Liberty", "subsequent", "to", "the", "effective", "date", ".", "Including", "today", "'s", "acquisition", ",", "Kodiak", "'s", "leasehold", "position", "in", "the", "Williston", "Basin", "is", "now", "approximately", "196,000", "net acres", ".", "Expanded", "Credit", "Facility", "The", "Company", "funded", "the", "acquisition", "through", "borrowings", "under", "its", "revolving", "credit", "facility", ".", "In", "connection", "with", "the", "acquisition", "and", "reflecting", "year", "-", "to", "-", "date", "completion", "activities", ",", "Kodiak", "and", "its", "lending", "group", ",", "led", "by", "Wells", "Fargo", "Bank", ",", "N", ".", "A", ".", ",", "entered", "into", "an", "amendment", "to", "the", "Company", "'", "s", "amended", "and", "restated", "credit", "agreement", "to", "increase", "the", "Company", "'s", "borrowing", "base", "and", "aggregate", "commitments", "under", "its", "existing", "senior", "secured", "revolving", "line", "of", "credit", "facility", "to", "$", "1.1 billion", ".", "This", "compares", "to", "the", "prior", "-", "level", "borrowing", "base", "of", "$", "650 million", ".", "Upon", "closing", "of", "the", "acquisition", ",", "the", "Company", "'s", "borrowings", "under", "the", "credit", "facility", "were", "$", "976 million", ".", "The", "Company", "continues", "to", "evaluate", "all", "available", "financing", "alternatives", "to", "support", "its", "capital", "requirements", ".", "About", "Kodiak", "Oil", "&", "Gas", "Corp", ".", "Denver", "-", "based", "Kodiak", "Oil", "&", "Gas", "Corp", ".", "is", "an", "independent", "energy", "exploration", "and", "development", "company", "focused", "on", "exploring", ",", "developing", "and", "producing", "oil", "and", "natural", "gas", "primarily", "in", "the", "Williston", "Basin", "in", "the", "U", ".", "S", ".", "Rocky", "Mountains", ".", "For", "further", "information", ",", "please", "visit", "www.kodiakog.com", ".", "The", "Company", "'s", "common", "shares", "are", "listed", "for", "trading", "on", "the", "New", "York", "Stock", "Exchange", "under", "the", "symbol", ":", "\"", "KOG", "\"", ".", "Forward", "-", "Looking", "Statements", "This", "press", "release", "includes", "statements", "that", "may", "constitute", "\"", "forward", "-", "looking", "\"", "statements", ",", "usually", "containing", "the", "words", "\"", "believe", "\"", ",", "\"", "estimate", "\"", ",", "\"", "project", "\"", ",", "\"", "expect", "\"", "or", "similar", "expressions", ".", "These", "statements", "are", "made", "pursuant", "to", "the", "safe", "harbor", "provisions", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Forward", "-", "looking", "statements", "inherently", "involve", "risks", "and", "uncertainties", "that", "could", "cause", "actual", "results", "to", "differ", "materially", "from", "the", "forward", "-", "looking", "statements", ".", "Forward", "looking", "statements", "are", "statements", "that", "are", "not", "historical", "facts", "and", "are", "generally", ",", "but", "not", "always", ",", "identified", "by", "the", "words", "\"", "expects", "\"", ",", "\"", "plans", "\"", ",", "\"", "anticipates", "\"", ",", "\"", "believes", "\"", ",", "\"", "intends", "\"", ",", "\"", "estimates", "\"", ",", "projects", "\"", ",", "\"", "potential", "\"", "and", "similar", "expressions", ",", "or", "that", "events", "or", "conditions", "\"", "will", "\"", ",", "\"", "would", "\"", ",", "\"", "may", "\"", ",", "\"", "could", "\"", "or", "\"", "should", "\"", "occur", ".", "Forward", "-", "looking", "statements", "in", "this", "document", "include", "statements", "regarding", "the", "Company", "'s", "expectations", "as", "to", "the", "anticipated", "benefits", "of", "the", "acquisition", "transaction", ",", "expectations", "regarding", "the", "Company", "'", "s", "operational", ",", "exploration", "and", "development", "plans", ".", "expectations", "regarding", "drilling", "plans", ",", "the", "Company", "'s", "expectations", "regarding", "its", "anticipated", "capital", "requirements", "and", "its", "2013", "capital", "budget", ",", "and", "expectations", "regarding", "production", ",", "revenues", ",", "cash", "flows", "and", "recoveries", ".", "Factors", "that", "could", "cause", "or", "contribute", "to", "such", "differences", "include", ",", "but", "are", "not", "limited", "to", ",", "fluctuations", "in", "the", "prices", "of", "oil", "and", "gas", ",", "uncertainties", "inherent", "in", "estimating", "quantities", "of", "oil", "and", "gas", "reserves", "and", "projecting", "future", "rates", "of", "production", "and", "timing", "of", "development", "activities", ",", "competition", ",", "operating", "risks", ",", "acquisition", "risks", ",", "liquidity", "and", "capital", "requirements", ",", "the", "effects", "of", "governmental", "regulation", ",", "adverse", "changes", "in", "the", "market", "for", "the", "Company", "'s", "oil", "and", "gas", "production", ",", "dependence", "upon", "third", "-", "party", "vendors", ",", "and", "other", "risks", "detailed", "in", "the", "Company", "'s", "periodic", "report", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "For", "further", "information", ",", "please", "contact", ":", "Mr", ".", "Lynn", "A", ".", "Peterson", ",", "CEO", "and", "President", ",", "Kodiak", "Oil", "&", "Gas", "Corp", ".", "+", "1", "-", "303", "-", "592", "-", "8075", "Mr", ".", "Trevor", "P", ".", "Seelye", ",", "CFA", ",", "Director", "of", "Financial", "Planning", "&", "Investor", "Relations", "+", "1", "-", "720", "-", "399", "-", "3282", "Mr", ".", "David", "P", ".", "Charles", ",", "Sierra", "Partners", "LLC", "+", "1", "-", "303", "-", "757", "-", "2510", "x11" ]
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905428-000114420405031602-v027179_ex99-1
EX-99.1 3 v027179_ex99-1.txt Euroweb Acquires Navigator Group, a Hungary-Based IT Services Firm, for $10 Million Friday October 7, 11:21 am ET BUDAPEST, Hungary--(BUSINESS WIRE)--Oct. 7, 2005--Euroweb International Corp. (Euroweb) (Nasdaq:EWEB - News), today is proud to announce that Euroweb and Euroweb Hungary Rt. (Euroweb Hungary), a wholly owned subsidiary of Euroweb, completed the USD$10,000,000 acquisition of 100% of Navigator Group (Navigator), a Hungary-based provider of IT outsourcing, applications development, and IT consulting services. Navigator was acquired from Marivaux Investments Limited and Graeton Holdings Limited. Further information on Navigator and details of the acquisition can be located in the Form 8-K's that have been filed with the SEC. Csaba Toro, Chief Executive Officer of Euroweb International Corp., said, "We are very pleased that the acquisition of Navigator was completed on such a timely basis. We believe this acquisition may be a key element in our future plans to redirect our company into new markets. Navigator will serve as our platform into the vast world of IT services, and we intend to aggressively seek additional opportunities in this industry". Moshe Schnapp, President of Euroweb International Corp., commented, "The decision to acquire Navigator is a step toward implementing our strategy as stated by Csaba. This is a fresh new market for Euroweb. We see great opportunities to expand this first major landmark deal into the IT sector and see this acquisition of Navigator as a significant milestone for our company and our shareholders. Euroweb intends to be a major player in the consolidation of the IT industry in Hungary". For more information about the Company go to: www.euroweb-international.com. About Euroweb Euroweb International owns and operates Internet Services Providers and value added services in Hungary and Romania through its wholly owned subsidiaries Euroweb Hungary Rt. and Euroweb Romania S.A. Euroweb's common stock is traded on the Nasdaq SmallCap Market under the symbol "EWEB". "SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 This press release contains forward-looking statements that involve risks and uncertainties. The statements in this Release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause Euroweb International Corp's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions. ---------- Contact: Euroweb International Corp. Kriszta Hollo, +36-1-88-97-101 or Osprey Partners Mike Mulshine, +1 732-292-0982 osprey57@optonline.net ---------- Source: Euroweb International Corp.
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1415404-000141540419000039-ex991satspressrelease
EX-99.1 2 ex991satspressrelease.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 EchoStar Announces Completion of the Spin-Off and Merger of its BSS Business EchoStar Shareholders Entitled to Receive the Consideration in the Transaction Receive DISH Class A Common Stock, No Action Required Englewood, CO, September 10, 2019 - EchoStar Corporation (NASDAQ:SATS) ("EchoStar") announced today the completion of its previously announced spin-off and subsequent merger with DISH Network Corporation (NASDAQ:DISH) ("DISH") of the portion of its business that manages, markets and provides (i) broadcast satellite services primarily to DISH, Dish Mexico, S. de R.L. de C.V. and their respective subsidiaries and (ii) telemetry, tracking and control services to satellites owned by DISH and a portion of EchoStar's other businesses, and certain related assets and business operations (the "BSS Business"). The transaction was announced on May 20, 2019 and a record date of August 19, 2019 was announced on August 9, 2019. The transaction is structured in a manner intended to be tax-free to EchoStar and its stockholders. Mike Dugan, President and CEO of EchoStar said: "The conclusion of this transaction enables EchoStar to focus on the growing broadband market and other strategic opportunities". Under the previously disclosed terms of the transaction, each holder of shares of Class A or Class B common stock of EchoStar who was entitled to receive the consideration in the transaction received one share of common stock of EchoStar BSS Corporation ("Newco"), a wholly-owned subsidiary of EchoStar that owned and operated the BSS Business as of the closing, for each share of EchoStar Class A or Class B common stock (together, the "EchoStar Common Stock") held by such holder (the "Distribution"). Immediately following the completion of the Distribution, BSS Merger Sub Inc., a direct wholly-owned subsidiary of DISH was merged with and into Newco (the "Merger"), with Newco continuing as a wholly-owned subsidiary of DISH. As a result of the Distribution and the Merger, in addition to retaining the shares of EchoStar common stock they currently own, each EchoStar stockholder who was entitled to receive the consideration in the transaction received 0.23523769 shares of DISH Class A common stock for each share of common stock of Newco they received in the Distribution. No fractional shares of DISH Class A common stock were issued in the Merger, and instead, EchoStar stockholders who were entitled to receive the consideration in the transaction will receive cash in lieu of any fractional shares of DISH Class A common stock. No action is required by EchoStar stockholders to receive the shares of DISH Class A common stock they are entitled to in the Merger. EchoStar stockholders are not required to surrender their shares of EchoStar Common Stock or pay for any shares of DISH Class A common stock that they receive and will retain all of their shares of EchoStar Common Stock and their associated rights. Two-Way trading for EchoStar and DISH Stock EchoStar has been advised by Nasdaq that from the day following the record date for the Distribution until the close of business today, there have been two markets in EchoStar Class A common stock on the Nasdaq: a "regular way" market under the ticker "SATS" (where a stockholder sells both its shares of EchoStar Class A common stock and its right to shares of DISH Class A common stock that it received in connection with the closing of the Merger) and an "ex-distribution" market under the ticker "SATSV" (where a stockholder sells only its shares of EchoStar Class A common stock). EchoStar has also been informed by Nasdaq that from the day following the record date until the close of business today an EchoStar stockholder can also continue to sell its right to DISH Class A common stock that it received in connection with the closing of the Merger under the Nasdaq ticker symbol "DISHV." Starting tomorrow, the "SATSV" and "DISHV" markets will be discontinued. In all cases, investors are encouraged to consult with their financial advisors regarding the specific implications of any sales of EchoStar Class A common stock stock through the close of business today. About EchoStar EchoStar Corporation (NASDAQ: SATS) is a premier global provider of satellite communications solutions. Headquartered in Englewood, Colo., and conducting business around the globe, EchoStar is a pioneer in secure communications technologies through its Hughes Network Systems and EchoStar Satellite Services business segments. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. When used in this release, the words "believe", "anticipate", "estimate", "expect", "intend", "project", "plans", and similar expressions and the use of future dates are intended to identify forward looking statements. Although management believes that the expectations reflected in these forward looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. The forward looking statements may include those regarding any matter set forth in this document or any of the exhibits incorporated herein. These forward looking statements involve risks and uncertainties that could cause actual results to differ materially from those predicted in any such forward looking statements. Such factors include, but are not limited to, adverse effects on the market price of DISH's Class A common stock, adverse effects on the market price of EchoStar's Class A common stock and on EchoStar's operating results for any reason, including, without limitation, because of a failure to realize the expected benefits of a transaction, significant transaction costs and/or unknown liabilities, any lawsuits filed in connection with a transaction and general economic and business conditions that affect EchoStar or DISH following the transaction. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made. These statements are subject to certain risks, uncertainties, and assumptions. For additional information on these and other factors that could affect EchoStar's forward looking statements, see EchoStar's filings with the SEC, including EchoStar's most recently filed Annual Report on Form 10-K for the year ended December 31, 2018 and subsequent Quarterly Reports on Form 10-Q and other documents EchoStar files with the SEC from time to time. The forward looking statements speak only as of the date made, and EchoStar expressly disclaims any obligation to update these forward-looking statements. Contacts: EchoStar Investor Relations Deepak Dutt +1 (301) 428-1686 deepak.dutt@echostar.com Terry Brown +1 (303) 728-5179 Terry.Brown@echostar.com EchoStar Corporate Communications Sharyn Nerenberg +1 (301) 428-7124 sharyn.nerenberg@echostar.com 2
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1455271-000129993310003127-exhibit6
EX-99.1 7 exhibit6.htm EX-99.1 EX-99.1 1551 N. Tustin Avenue, Suite 300 Santa Ana, CA 92705 714.667.8252 main 714.667.6860 fax www.gbe-reits.com/healthcare2 Contact: Damon Elder Phone: 714.975.2659 Email: damon.elder@grubb-ellis.com Grubb & Ellis Healthcare REIT II Acquires Cape Girardeau Long-Term Acute Care Hospital in Missouri CAPE GIRARDEAU, Mo. (Aug. 18, 2010) - Grubb & Ellis Healthcare REIT II, Inc. today announced that it has acquired Cape Girardeau Long-Term Acute Care Hospital, a single-story, 26,000-square-foot, Class A single-tenant facility in Cape Girardeau. The acquisition closed on Aug. 12. Located at 3255 Independence St., approximately 115 miles to the south of St. Louis and 170 miles to the north of Memphis, Cape Girardeau Long-Term Acute Care Hospital is within one-and-a-half miles of the 258-bed St. Francis Medical Center, the region's largest acute care facility and a significant source of referral patients. Construction of a 208,000-square-foot combined Heart Hospital and Cancer Institute is currently underway at the medical center. "Cape Girardeau Long-Term Acute Care Hospital is the first of a four property portfolio of long-term acute care hospitals we are in the process of acquiring under a long-term sale leaseback agreement", said Danny Prosky, president and chief operating officer. "The addition of these long-term care centers further diversifies Grubb & Ellis Healthcare REIT II, from both a geographic and asset mix perspective, and provides stable income for at least the next fifteen years". Built in 2006, Cape Girardeau Long-Term Acute Care Hospital is leased by Landmark Holdings of Missouri, LLC, which signed a long-term lease through 2025. Creative Health Capital, LLC represented the seller, White Oaks Real Estate Investments, LLC, an unaffiliated third party, in the transaction. Grubb & Ellis Healthcare REIT II financed the acquisition using cash proceeds received from its offering and $6,500,000 in borrowings under its line of credit with Bank of America, N.A. About Grubb & Ellis Healthcare REIT II Grubb & Ellis Healthcare REIT II, Inc. intends to qualify as a real estate investment trust that seeks to preserve, protect and return investors' capital contributions, pay regular cash distributions, and realize growth in the value of its investments upon the ultimate sale of such investments. Grubb & Ellis Healthcare REIT II is seeking to raise up to approximately $3 billion in equity and to acquire a diversified portfolio of real estate assets, focusing primarily on medical office buildings and other healthcare-related facilities. Grubb & Ellis Healthcare REIT II is sponsored by Grubb & Ellis Company (NYSE: GBE). Grubb & Ellis is one of the largest and most respected commercial real estate services and investment companies in the world. Grubb & Ellis Company's 6,000 professionals in more than 100 company-owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors. The firm's transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise. Through its investment subsidiaries, the company is a leading sponsor of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including publicly registered non-traded real estate investment trusts (REITs), mutual funds, separate accounts and other real estate investment funds. For more information, visit www.grubb-ellis.com . * * * This release contains certain forward-looking statements (under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) with respect to the success of Cape Girardeau Long-Term Acute Care Hospital, its stable income, construction of the Heart Hospital and Cancer Institute, and whether its proximity to St. Francis Medical Center is beneficial. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: the strength and financial condition of Cape Girardeau Long-Term Acute Care Hospital and its tenant; uncertainties relating to the financial strength of Cape Girardeau Long-Term Acute Care Hospital, St. Francis Medical Center and the local economy of the city of Cape Girardeau; uncertainties relating to changes in general economic and real estate conditions; uncertainties regarding changes in the healthcare industry; the uncertainties relating to the implementation of our real estate investment strategy; and other risk factors as outlined in the company's prospectus, as amended from time to time, and as detailed from time to time in our periodic reports, as filed with the U.S. Securities and Exchange Commission. Forward-looking statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. THIS IS NEITHER AN OFFER TO SELL NOR AN OFFER TO BUY ANY SECURITIES DESCRIBED HEREIN. OFFERINGS ARE MADE ONLY BY MEANS OF A PROSPECTUS OR OFFERING MEMORANDUM. ###
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56047-000114036117035494-ex99_1
EX-99.1 4 ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 KIRBY CORPORATION Contact: Brian Carey 713-435-1413 FOR IMMEDIATE RELEASE KIRBY CORPORATION COMPLETES THE PURCHASE OF STEWART & STEVENSON LLC AND REPORTS ON THE IMPACT OF HURRICANES HARVEY AND IRMA Houston, Texas (September 13, 2017) - Kirby Corporation ("Kirby") (NYSE: KEX) today announced the closing of the acquisition of substantially all of the assets and businesses of Stewart & Stevenson LLC ("Stewart & Stevenson") for approximately $756.5 million, before post-closing adjustments. The purchase was funded with 5.7 million shares of Kirby common stock valued at $366.6 million and $377.0 million in cash through Kirby's revolving credit facility, as well as assumed debt of $12.9 million. The cash consideration includes an adjustment for working capital due to increased receivables and inventory, and the assumed debt is for additional property. Kirby also announced today that Hurricanes Harvey and Irma caused little damage to Kirby vessels and minor flooding to one facility. David W. Grzebinski, Kirby's President and Chief Executive Officer, commented on Stewart & Stevenson, "We are pleased to welcome the employees of Stewart & Stevenson to Kirby, and are excited to begin realizing the benefits of the combined distribution and services business. While purchase price allocations are not final, we expect the transaction to be $0.02 - $0.04 per share accretive to 2017 fourth quarter earnings. The market continues to develop favorably as reflected by the increase in working capital levels. However, the full benefit from the earnings contribution is likely to be partially offset in the quarter by one-time integration and transaction-related expenses. We will include a more definitive earnings assessment of Stewart & Stevenson in our 2018 full year guidance on our fourth quarter earnings call in January". Regarding Hurricanes Harvey and Irma, Mr. Grzebinski said, "I commend all of our operations and vessel personnel who saw us through the hurricanes safely, and I am grateful for the support work of our shoreside staff. Though many of our colleagues have experienced significant damage to their homes and property, we are thankful that all Kirby employees and their families emerged unharmed from the storms". Commenting on the hurricanes' impact to Kirby's operations, Mr. Grzebinski stated, "Harvey has significantly dislocated normal supply and distribution routes in our inland barge business. Ports from Corpus Christi to Houston started closing on August 23 rd , and began reopening on September 1 st . The storm also disrupted over 50% of U.S. petrochemical capacity and over 25% of refinery capacity, though many plants have returned to normal operations. Irma has also significantly disrupted our offshore business". Mr. Grzebinski continued, "We expect lost revenues and costs associated with recovery efforts for both hurricanes to impact third quarter earnings by $0.06 - $0.08 per share. For Harvey, the lost revenues have been partially offset by an increase in our vessel utilization as the U.S. Gulf Coast petrochemical and refinery complex returns to normal operations. As such, we believe third quarter earnings results will fall within our previously provided guidance range, although towards the low end after the negative impact from the storms". 1 Statements contained in this press release with respect to the future are forward-looking statements. These statements reflect management's reasonable judgment with respect to future events. Forward-looking statements involve risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors, including cyclical or other downturns in demand, significant pricing competition, unanticipated additions to industry capacity, changes in the Jones Act or in U.S. maritime policy and practice, fuel costs, interest rates, weather conditions and timing, magnitude and number of acquisitions made by Kirby. Forward-looking statements are based on currently available information and Kirby assumes no obligation to update any such statements. A list of additional risk factors can be found in Kirby's annual report on Form 10-K for the year ended December 31, 2016 filed with the Securities and Exchange Commission. Kirby Corporation, based in Houston, Texas, is the nation's largest domestic tank barge operator transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts, and in Alaska and Hawaii. Kirby transports petrochemicals, black oil, refined petroleum products and agricultural chemicals by tank barge. Kirby also operates offshore dry-bulk barge and tugboat units engaged in the offshore transportation of dry-bulk cargoes in the United States coastal trade. Through the distribution and services segment, Kirby provides after-market service and parts for engines, transmissions, reduction gears, and related equipment used in oilfield services, marine, power generation, on-highway, and other industrial applications. Kirby also rents equipment including generators, fork lifts, pumps, and compressors for use in a variety of industrial markets, and manufactures and remanufactures oilfield service equipment, including pressure pumping units, for land-based oilfield service customers. 2
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"of", "Kirby", "common", "stock", "valued", "at", "$", "366.6 million", "and", "$", "377.0 million", "in", "cash", "through", "Kirby", "'s", "revolving", "credit", "facility", ",", "as", "well", "as", "assumed", "debt", "of", "$", "12.9 million", ".", "The", "cash", "consideration", "includes", "an", "adjustment", "for", "working", "capital", "due", "to", "increased", "receivables", "and", "inventory", ",", "and", "the", "assumed", "debt", "is", "for", "additional", "property", ".", "Kirby", "also", "announced", "today", "that", "Hurricanes", "Harvey", "and", "Irma", "caused", "little", "damage", "to", "Kirby", "vessels", "and", "minor", "flooding", "to", "one", "facility", ".", "David", "W", ".", "Grzebinski", ",", "Kirby", "'s", "President", "and", "Chief", "Executive", "Officer", ",", "commented", "on", "Stewart", "&", "Stevenson", ",", "\"", "We", "are", "pleased", "to", "welcome", "the", "employees", "of", "Stewart", "&", "Stevenson", "to", "Kirby", ",", "and", "are", "excited", "to", "begin", "realizing", "the", "benefits", "of", "the", "combined", "distribution", "and", "services", "business", ".", "While", "purchase", "price", "allocations", "are", "not", "final", ",", "we", "expect", "the", "transaction", "to", "be", "$", "0.02", "-", "$", "0.04", "per", "share", "accretive", "to", "2017", "fourth", "quarter", "earnings", ".", "The", "market", "continues", "to", "develop", "favorably", "as", "reflected", "by", "the", "increase", "in", "working", "capital", "levels", ".", "However", ",", "the", "full", "benefit", "from", "the", "earnings", "contribution", "is", "likely", "to", "be", "partially", "offset", "in", "the", "quarter", "by", "one", "-", "time", "integration", "and", "transaction", "-", "related", "expenses", ".", "We", "will", "include", "a", "more", "definitive", "earnings", "assessment", "of", "Stewart", "&", "Stevenson", "in", "our", "2018", "full", "year", "guidance", "on", "our", "fourth", "quarter", "earnings", "call", "in", "January", "\"", ".", "Regarding", "Hurricanes", "Harvey", "and", "Irma", ",", "Mr", ".", "Grzebinski", "said", ",", "\"", "I", "commend", "all", "of", "our", "operations", "and", "vessel", "personnel", "who", "saw", "us", "through", "the", "hurricanes", "safely", ",", "and", "I", "am", "grateful", "for", "the", "support", "work", "of", "our", "shoreside", "staff", ".", "Though", "many", "of", "our", "colleagues", "have", "experienced", "significant", "damage", "to", "their", "homes", "and", "property", ",", "we", "are", "thankful", "that", "all", "Kirby", "employees", "and", "their", "families", "emerged", "unharmed", "from", "the", "storms", "\"", ".", "Commenting", "on", "the", "hurricanes", "'", "impact", "to", "Kirby", "'s", "operations", ",", "Mr", ".", "Grzebinski", "stated", ",", "\"", "Harvey", "has", "significantly", "dislocated", "normal", "supply", "and", "distribution", "routes", "in", "our", "inland", "barge", "business", ".", "Ports", "from", "Corpus", "Christi", "to", "Houston", "started", "closing", "on", "August", "23", "rd", ",", "and", "began", "reopening", "on", "September", "1", "st", ".", "The", "storm", "also", "disrupted", "over", "50", "%", "of", "U", ".", "S", ".", "petrochemical", "capacity", "and", "over", "25", "%", "of", "refinery", "capacity", ",", "though", "many", "plants", "have", "returned", "to", "normal", "operations", ".", "Irma", "has", "also", "significantly", "disrupted", "our", "offshore", "business", "\"", ".", "Mr", ".", "Grzebinski", "continued", ",", "\"", "We", "expect", "lost", "revenues", "and", "costs", "associated", "with", "recovery", "efforts", "for", "both", "hurricanes", "to", "impact", "third", "quarter", "earnings", "by", "$", "0.06", "-", "$", "0.08", "per", "share", ".", "For", "Harvey", ",", "the", "lost", "revenues", "have", "been", "partially", "offset", "by", "an", "increase", "in", "our", "vessel", "utilization", "as", "the", "U", ".", "S", ".", "Gulf", "Coast", "petrochemical", "and", "refinery", "complex", "returns", "to", "normal", "operations", ".", "As", "such", ",", "we", "believe", "third", "quarter", "earnings", "results", "will", "fall", "within", "our", "previously", "provided", "guidance", "range", ",", "although", "towards", "the", "low", "end", "after", "the", "negative", "impact", "from", "the", "storms", "\"", ".", "1", "Statements", "contained", "in", "this", "press", "release", "with", "respect", "to", "the", "future", "are", "forward", "-", "looking", "statements", ".", "These", "statements", "reflect", "management", "'s", "reasonable", "judgment", "with", "respect", "to", "future", "events", ".", "Forward", "-", "looking", "statements", "involve", "risks", "and", "uncertainties", ".", "Actual", "results", "could", "differ", "materially", "from", "those", "anticipated", "as", "a", "result", "of", "various", "factors", ",", "including", "cyclical", "or", "other", "downturns", "in", "demand", ",", "significant", "pricing", "competition", ",", "unanticipated", "additions", "to", "industry", "capacity", ",", "changes", "in", "the", "Jones", "Act", "or", "in", "U", ".", "S", ".", "maritime", "policy", "and", "practice", ",", "fuel", "costs", ",", "interest", "rates", ",", "weather", "conditions", "and", "timing", ",", "magnitude", "and", "number", "of", "acquisitions", "made", "by", "Kirby", ".", "Forward", "-", "looking", "statements", "are", "based", "on", "currently", "available", "information", "and", "Kirby", "assumes", "no", "obligation", "to", "update", "any", "such", "statements", ".", "A", "list", "of", "additional", "risk", "factors", "can", "be", "found", "in", "Kirby", "'s", "annual", "report", "on", "Form", "10", "-", "K", "for", "the", "year", "ended", "December", "31", ",", "2016", "filed", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "Kirby", "Corporation", ",", "based", "in", "Houston", ",", "Texas", ",", "is", "the", "nation", "'s", "largest", "domestic", "tank", "barge", "operator", "transporting", "bulk", "liquid", "products", "throughout", "the", "Mississippi", "River", "System", ",", "on", "the", "Gulf", "Intracoastal", "Waterway", ",", "coastwise", "along", "all", "three", "United", "States", "coasts", ",", "and", "in", "Alaska", "and", "Hawaii", ".", "Kirby", "transports", "petrochemicals", ",", "black", "oil", ",", "refined", "petroleum", "products", "and", "agricultural", "chemicals", "by", "tank", "barge", ".", "Kirby", "also", "operates", "offshore", "dry", "-", "bulk", "barge", "and", "tugboat", "units", "engaged", "in", "the", "offshore", "transportation", "of", "dry", "-", "bulk", "cargoes", "in", "the", "United", "States", "coastal", "trade", ".", "Through", "the", "distribution", "and", "services", "segment", ",", "Kirby", "provides", "after", "-", "market", "service", "and", "parts", "for", "engines", ",", "transmissions", ",", "reduction", "gears", ",", "and", "related", "equipment", "used", "in", "oilfield", "services", ",", "marine", ",", "power", "generation", ",", "on", "-", "highway", ",", "and", "other", "industrial", "applications", ".", "Kirby", "also", "rents", "equipment", "including", "generators", ",", "fork", "lifts", ",", "pumps", ",", "and", "compressors", "for", "use", "in", "a", "variety", "of", "industrial", "markets", ",", "and", "manufactures", "and", "remanufactures", "oilfield", "service", "equipment", ",", "including", "pressure", "pumping", "units", ",", "for", "land", "-", "based", "oilfield", "service", "customers", ".", "2" ]
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883902-000088390221000043-a20210809exh992
EX-99.2 3 a20210809exh992.htm EX-99.2 Document Exhibit 99.2 Summary of Unaudited Pro Forma Financial Information On August 9, 2021, Cornerstone Building Brands, Inc. (the "Company") closed the sale of its Insulated Metal Panels ("IMP") business to Nucor Insulated Panel Group, Inc. and Vulcraft Canada, Inc. (collectively, the "Purchasers") in a cash transaction for $1 billion, subject to customary adjustments. The sale included products sold under the Metl-Span and CENTRIA brands. The results of the IMP business were previously reported in the Commercial segment. The unaudited pro forma consolidated statements of operations for the year ended December 31, 2020 and the six months ended July 3, 2021 give effect to the sale as if it had occurred on January 1, 2020. The unaudited pro forma consolidated balance sheet as of July 3, 2021 assumes the sale occurred on July 3, 2021. The unaudited pro forma consolidated financial statements have been derived from historical financial statements prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and are presented based upon information currently available and certain assumptions the Company believes are reasonable. The unaudited pro forma consolidated financial statements are presented to comply with Article 11 of Regulation S-X and follow prescribed SEC regulations. The unaudited condensed consolidated pro forma financial statements do not purport to present what the Company's results would have been had the disposition actually occurred on the dates indicated or to project what the Company's results of operations or financial position would have been for any future period. The prescribed regulations limit pro forma adjustments to those that are directly attributable to the disposition on a factually supported basis. Consequently, the Company was not permitted within the pro forma consolidated financial statements to allocate to the IMP business any indirect corporate overhead or costs, such as administrative corporate functions. As a result, such costs are not reflected in the pro forma adjustments. The pro forma adjustments are described in the notes to the unaudited consolidated pro forma financial statements. The unaudited condensed consolidated pro forma financial statements have been prepared for informational purposes and should be read together with the historical consolidated financial statements and related notes of Cornerstone Building Brands, Inc. included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and its Quarterly Report on Form 10-Q for the fiscal quarter ended July 3, 2021. 1 CORNERSTONE BUILDING BRANDS, INC. PRO FORMA CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited) July 3, 2021 Cornerstone Building Brands Pro Forma Adjustments Cornerstone Building Brands Pro Forma ASSETS Current assets: Cash and cash equivalents $ 88,978 $ 1,000,000 (a) $ 1,088,978 Restricted cash 6,224 - 6,224 Accounts receivable, net 613,193 - 613,193 Inventories, net 549,736 - 549,736 Income taxes receivable 46,358 - 46,358 Investments in debt and equity securities, at market 2,695 - 2,695 Prepaid expenses and other 88,942 - 88,942 Assets held for sale 390,025 (357,330) (b) 32,695 Total current assets 1,786,151 642,670 2,428,821 Property, plant and equipment, net 568,901 - 568,901 Lease right-of-use assets 272,366 - 272,366 Goodwill 1,107,758 - 1,107,758 Intangible assets, net 1,488,426 - 1,488,426 Deferred income taxes 2,178 - 2,178 Other assets, net 28,283 - 28,283 Total assets $ 5,254,063 $ 642,670 $ 5,896,733 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Current portion of long-term debt $ 26,000 $ - $ 26,000 Accounts payable 266,067 - 266,067 Accrued compensation and benefits 75,966 - 75,966 Accrued interest 21,406 - 21,406 Accrued income taxes 6,560 211,629 (d) 218,189 Current portion of lease liabilities 68,198 - 68,198 Other accrued expenses 280,236 14,084 (c) 294,320 Liabilities held for sale 75,927 (65,756) (b) 10,171 Total current liabilities 820,360 159,957 980,317 Long-term debt 3,180,759 - 3,180,759 Deferred income taxes 233,602 - 233,602 Long-term lease liabilities 205,530 - 205,530 Other long-term liabilities 334,565 - 334,565 Total long-term liabilities 3,954,456 - 3,954,456 Stockholders' equity: Common stock 1,261 - 1,261 Additional paid-in capital 1,265,887 - 1,265,887 Accumulated deficit (757,413) 482,713 (d) (274,700) Accumulated other comprehensive loss, net (30,064) - (30,064) Treasury stock, at cost (424) - (424) Total stockholders' equity 479,247 482,713 961,960 Total liabilities and stockholders' equity $ 5,254,063 $ 642,670 $ 5,896,733 2 CORNERSTONE BUILDING BRANDS, INC. PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) Six Months Ended July 3, 2021 Cornerstone Building Brands Pro Forma Adjustments Cornerstone Building Brands Pro Forma Net sales $ 2,667,153 $ (155,287) (e) $ 2,511,866 Cost of sales 2,095,696 (127,483) (e) 1,968,213 Gross profit 571,457 (27,804) 543,653 Selling, general and administrative expenses 316,686 (20,310) (e) 296,376 Intangible asset amortization 93,011 (3,220) (e) 89,791 Restructuring and impairment charges, net 6,490 (193) (e) 6,297 Strategic development and acquisition related costs 3,252 13,316 (c),(e) 16,568 Income from operations 152,018 (17,397) 134,621 Interest income 140 (48) (e) 92 Interest expense (103,957) - (103,957) Foreign exchange gain (loss) 203 (427) (e) (224) Loss on extinguishment of debt (42,234) - (42,234) Other income (expense), net 830 (241) (e) 589 Income before taxes 7,000 (18,113) (11,113) Benefit for income taxes (272) (4,642) (f) (4,914) Net income (loss) 7,272 (13,471) (6,199) Net income allocated to participating securities (93) - - Net income (loss) applicable to common shares $ 7,179 $ (13,471) $ (6,199) Income (loss) per common share: Basic $ 0.06 $ (0.05) Diluted $ 0.06 $ (0.05) Weighted average number of common shares outstanding: Basic 125,683 125,683 Diluted 126,469 126,469 3 CORNERSTONE BUILDING BRANDS, INC. PRO FORMA CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) Year Ended December 31, 2020 Cornerstone Building Brands Pro Forma Adjustments Cornerstone Building Brands Pro Forma Net sales $ 4,617,369 $ (309,844) (e) $ 4,307,525 Cost of sales 3,567,049 (211,678) (e) 3,355,371 Gross profit 1,050,320 (98,166) 952,154 Selling, general and administrative expenses 579,200 (39,047) (e) 540,153 Intangible asset amortization 180,994 (8,661) (e) 172,333 Restructuring and impairment charges, net 34,120 (2,069) (e) 32,051 Strategic development and acquisition related costs 19,341 416 (e) 19,757 Goodwill impairment 503,171 - 503,171 Income (loss) from operations (266,506) (48,805) (315,311) Interest income 1,364 (98) (e) 1,266 Interest expense (213,610) (3) (e) (213,613) Foreign exchange gain (loss) 1,068 (337) (e) 731 Other income (expense), net 469 (594) (e) (125) Income (loss) before income taxes (477,215) (49,837) (527,052) Provision (benefit) for income taxes 5,563 (12,725) (f) (7,162) Net income (loss) (482,778) (37,112) (519,890) Net income allocated to participating securities - - - Net income (loss) applicable to common shares $ (482,778) $ (37,112) $ (519,890) Income (loss) per common share: Basic $ (3.84) $ (4.14) Diluted $ (3.84) $ (4.14) Weighted average number of common shares outstanding: Basic 125,562 125,562 Diluted 125,562 125,562 Notes to pro forma consolidated financial statements (a)Reflects proceeds received upon closing of the IMP Sale. (b)Reflects the disposition of the assets and liabilities of the IMP business (see the Assets and Liabilities Held for Sale schedule below). (c)Reflects the fee payable for the advisory services that was contingent upon the close of the IMP Sale. (d)Reflects the preliminary gain on the IMP Sale of approximately $708.4 million ($496.8 million, net of tax) less the advisory fee of approximately $14.1 million described in (c) above. 4 July 3, 2021 (in thousands) Proceeds from sale of the IMP business $ 1,000,000 Net assets (see Assets and Liabilities Held for Sale schedule below) (291,574) Preliminary gain on sale 708,426 Accrued income taxes (211,629) Preliminary gain on sale, net of tax 496,797 Advisory fee (14,084) Amount recorded in accumulated deficit $ 482,713 (e)Reflects the elimination of revenues and expenses directly attributable to the IMP Sale. (f)Reflects the estimated income tax effect of the pro forma adjustments using an annual effective tax rate of approximately 25.6% and 25.5% for the six months ended July 3, 2021 and fiscal year ended December 31, 2020, respectively. Assets and Liabilities Held for Sale July 3, 2021 (in thousands) Carrying amounts of major classes of assets held for sale: Accounts receivable, net $ 56,166 Inventories, net 52,995 Prepaid expenses and other 5,561 Total current assets 114,722 Property, plant and equipment, net 49,423 Lease right-of-use assets 9,841 Goodwill 121,464 Intangible assets, net 60,623 Other assets 1,257 Total assets held for sale $ 357,330 Carrying amounts of major classes of liabilities held for sale: Accounts payable $ 15,955 Accrued compensation and benefits 6,138 Short-term lease liabilities 2,685 Other accrued expenses 16,416 Total current liabilities 41,194 Deferred income taxes 13,606 Long-term lease liabilities 8,490 Other long-term liabilities 2,466 Total non-current liabilities 24,562 Total liabilities held for sale $ 65,756 Net assets $ 291,574 5
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1087934-000102048807000028-ucn-ex99_pressrel
EX-99 2 ucn-ex99_pressrel.htm UCN, Inc. Exhibit 99.1 Press Release UCN Closes on the Purchase of ScheduleQ Workforce Management Software inContact® the first unified contact distribution / workforce management solution in the hosted contact center market Salt Lake City, February 15, 2007 - UCN, Inc. (OTCBB:UCNN) the leading provider of all-in-one, off-premises contact handling technology services delivered over the UCN VoIP network, today announced it closed on the purchase of ScheduleQ, LLC, of Salt Lake City, acquiring its on-demand workforce management (WFM) software solution. Under the terms of the agreement, the acquisition price consists of cash, stock and notes. At closing, UCN will pay ScheduleQ liabilities of $256,324. ScheduleQ owners will receive 108,912 shares of UCN restricted common stock and a non-interest bearing note of $360,676 with a term of four years. Additionally, over a four-year period, UCN will pay a minimum of $100,000 and a maximum of up to $982,000 in earn-outs based on an agreed dollar amount per each user license sold during that period. ScheduleQ CEO, Drew Judkins said: "ScheduleQ's goal from the beginning was to develop a relationship with a provider of on-demand, hosted ACD technology. We selected UCN because the two products easily exchange data, leading to a complimentary solution that will benefit customers. UCN is an innovative market leader in the hosted space with an established sales force, enabling our two companies to immediately focus on selling a unified solution". "With this agreement, combined with the announcement earlier this week of our Echo purchase, UCN immediately enters the fast growing $1 billion workforce optimization market, becoming the first on-demand provider to offer unified technology for contact distribution, workforce scheduling and management, and customer satisfaction survey and analysis tools", said UCN CEO, Paul Jarman. Advantages of the acquisition include: - The new product enables UCN to increase potential revenue per customer - The ability to close new customers faster with the ScheduleQ product - The product addresses the labor management needs of a wide range of contact centers from 20 to more than 1000 agents. It is especially valuable for those who need to manage a distributed workforce. - Becomes a key component in the UCN All-in-One inContact® offering About UCN, Inc. UCN (OTCBB: UCNN) is the leading provider of all-in-one, off-premises contact handling services that improve the customer contact experience and the productivity of those handling the contacts. InContact® includes an integrated suite of core contact handling applications, including contact routing, interactive menus, database integration, reporting, monitoring, recording, administration, and workforce optimization applications, including a scheduling and tracking tool and an automated customer satisfaction survey and reporting system. InControl™ is a unique, rapid application development tool that enables inContact customers to develop highly flexible, customized business contact handling processes in record time. To learn more about UCN visit www.ucn.net. ### Safe Harbor Statement Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 : All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates,""expects", "intends", "plans", "predicts", "believes", "seeks", "estimates", "may", "will", "should", "would", "could", "potential,""continue", "ongoing", similar expressions, and variations or negatives of these words and include, but are not limited to, statements regarding projected results of operations and management's future strategic plans. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. The risks and uncertainties referred to above include, but are not limited to, risks associated with our business model; our ability to develop or acquire, and gain market acceptance for new products, including our new sales and marketing and voice automation products, in a cost-effective and timely manner; the gain or loss of key customers; competitive pressures; our ability to expand operations; fluctuations in our earnings as a result of the impact of stock-based compensation expense; interruptions or delays in our hosting operations; breaches of our security measures; our ability to protect our intellectual property from infringement, and to avoid infringing on the intellectual property rights of third parties; and our ability to expand, retain and motivate our employees and manage our growth. Further information on potential factors that could affect our financial results is included in our Annual Report on Form 10-K, quarterly reports on Form 10-Q, and in other filings with the Securities and Exchange Commission. The forward-looking statements in this release speak only as of the date they are made. We undertake no obligation to revise or update publicly any forward-looking statement for any reason. General Contact : Jan Johnson UCN, VP of Marketing 801-320-3263 jan.johnson@ucn.net Investor Contact : Liolios Group Inc. Scott Liolios or Ron Both 949-574-3860 scott@liolios.com
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",", "and", "to", "avoid", "infringing", "on", "the", "intellectual", "property", "rights", "of", "third", "parties", ";", "and", "our", "ability", "to", "expand", ",", "retain", "and", "motivate", "our", "employees", "and", "manage", "our", "growth", ".", "Further", "information", "on", "potential", "factors", "that", "could", "affect", "our", "financial", "results", "is", "included", "in", "our", "Annual", "Report", "on", "Form", "10", "-", "K", ",", "quarterly", "reports", "on", "Form", "10", "-", "Q", ",", "and", "in", "other", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "The", "forward", "-", "looking", "statements", "in", "this", "release", "speak", "only", "as", "of", "the", "date", "they", "are", "made", ".", "We", "undertake", "no", "obligation", "to", "revise", "or", "update", "publicly", "any", "forward", "-", "looking", "statement", "for", "any", "reason", ".", "General", "Contact", ":", "Jan", "Johnson", "UCN", ",", "VP", "of", "Marketing", "801", "-", "320", "-", "3263", "jan.johnson@ucn.net", "Investor", "Contact", ":", "Liolios", "Group", "Inc", ".", "Scott", "Liolios", "or", "Ron", "Both", "949", "-", "574", "-", "3860", "scott@liolios.com" ]
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1392960-000139390508000145-cnsv_ex99-5
EX-99.5 6 cnsv_ex99-5.htm UNAUDITED PRO-FORMA COMBINED BALANCE SHEET AND STATEMENTS OF OPERATIONS OF CONSOLIDATION SERVICES, INC. FOR THE THREE MONTHS ENDED MARCH 31, 2008 Consolidation Services, Inc Exhibit 99.5 Consolidation Services, Inc. UNAUDITED CONDENSED COMBINED PRO FORMA BALANCE SHEET Consolidation Buckhorn Services Resources Adjusted Inc. LLC Combined Pro Forma ProForma As of March 31, 2008 Totals Adjustments AJE Totals ASSETS Current Assets: Cash $ 450,643 $ 314 $ 450,957 $ (450,000) [4] $ 957 Accounts receivable - - - - - Deposits 105,000 - 105,000 (50,000) [4] 55,000 Other current assets - - - - - Total Current Assets 555,643 314 555,957 (500,000) 55,957 1,500,000 [4] Fixed Assets, Net: 184,469 1,028,173 1,212,642 1,535,704 [1] 4,248,346 TOTAL ASSETS $ 740,112 $ 1,028,487 $ 1,768,599 $ 2,535,704 $ 4,304,303 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 3,854 $ 62,254 $ 66,108 $ (66,108) [3] $ - Related party payable 115,000 - 115,000 - 615,000 Notes payable - - - 500,000 [4] 500,000 Total Current Liabilities 118,854 62,254 181,108 433,892 615,000 Long-Term Liabilities: Notes payable - - - 500,000 [4] 500,000 Total Long-Term Payables - - - 500,000 500,000 Total Liabilities 118,854 62,254 181,108 933,892 1,115,000 Stockholders' Equity: Preferred stock - - - - - - Common stock 11,497 - 11,497 1,094 [1] 12,591 - Additional paid-in capital 814,239 - 814,239 2,098,906 [1] 2,816,894 (162,359) [2] 66,108 [3] Minority interest - 1,128,592 1,128,592 (564,296) [1] 564,296 Accumulated deficit (204,478) (162,359) (366,837) 162,359 [2] (204,478) Total Stockholders' Equity 621,258 966,233 1,587,491 1,601,812 3,189,303 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 740,112 $ 1,028,487 $ 1,768,599 $ 2,535,704 $ 4,304,303 [1] To record the issuance of 1,093,750 shares of common stock in the acquisition of a 50% interest in Buckhorn Resources, LLC [2] To eliminate accumulated defict of Buckhorn Resources, LLC [3] To record payment of accounts payable by owners of Buckhorn Resources LLC as a contribution to capital [4] To record payment of $1,500,000 in the acquisition of a 50% interest in Buckhorn Resources, LLC Consolidation Services, Inc. UNAUDITED CONDENSED COMBINED PRO FORMA STATEMENT OF OPERATIONS Consolidation Buckhorn Pro-Forma Services Resources Adjusted Inc. LLC Combined Combined For the Three Months Ended March 31, 2008 Totals Adjustments Totals REVENUES Sales revenue $ - $ - $ - $ - $ - Other revenue - - - - - Total Revenues - - - - - COST OF SALES - - - - - GROSS PROFIT - - - - - OPERATING EXPENSES General and administrative 27,961 6,534 34,495 - 34,495 Depreciation and amortization - - - - - Total Costs and Expenses 27,961 6,534 34,495 - 34,495 OPERATING LOSS (27,961) (6,534) (34,495) - (34,495) OTHER INCOME (EXPENSE) Interest expense - - - - - Other income - - - - - Total Other Income (Expense) - - - - - NET LOSS $ (27,961) $ (6,534) $ (34,495) $ - $ (34,495)
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1121439-000095014409002881-g18390exv99w1
EX-99.1 4 g18390exv99w1.htm EX-99.1 EX-99.1 Exhibit 99.1 AMICAS SUCCESSFULLY COMPLETES TENDER OFFER FOR SHARES OF EMAGEON INC. BOSTON - April 2 - /PRNewswire - First Call/ - AMICAS, Inc. [Nasdaq: AMCS] a leader in radiology and medical image and information management solutions, today announced the successful completion of the tender offer by its wholly-owned subsidiary AMICAS Acquisition Corp. for shares of common stock of Emageon Inc. [Nasdaq: EMAG]. The tender offer expired at 12:00 midnight (Eastern Time) on Wednesday, April 1, 2009. The depositary for the tender offer has advised AMICAS that shareholders of Emageon have tendered and not withdrawn a total of approximately 18,882,734 shares of Emageon common stock. These shares represent approximately 88% percent of the outstanding shares of Emageon. AMICAS Acquisition Corp. has accepted for payment all Emageon shares tendered in the offer. AMICAS also announced that AMICAS Acquisition Corp. intends to exercise its "top-up" option in accordance with the previously announced merger agreement with Emageon. The exercise of the top-up option will allow AMICAS Acquisition Corp. to increase its share ownership percentage of Emageon through the purchase of newly-issued shares of Emageon common stock at the tender offer price. As a result, AMICAS Acquisition Corp. will own more than 90 percent of the outstanding shares of Emageon common stock and intends to effect a short-form merger as promptly as practicable, without the need for a meeting of Emageon shareholders. In the merger, AMICAS Acquisition Corp. will acquire all other Emageon shares (other than those as to which holders properly exercise dissenters' rights) at the same $1.82 per share price, without interest and less any required withholding taxes, that was paid in the tender offer. As a result of the merger, Emageon will become a wholly-owned subsidiary of AMICAS and Emageon shares will cease to be traded on The NASDAQ Global Market. About AMICAS, Inc. AMICAS, Inc. ( www.amicas.com ) is a leader in radiology and medical image and information management solutions. The AMICAS One Suite™ of products provides a complete, end-to-end solution for imaging centers, ambulatory care facilities, and radiology practices. Acute care and hospital clients are provided with a fully integrated, hospital information system-independent PACS that features advanced enterprise workflow support and scalable design. Complementing the AMICAS solution suite is AMICAS Professional Services™, a set of client-centered professional and consulting services that assist our customers with a well-planned transition to a digital enterprise. CONTACTS: Paul Merrild Vice President, Marketing 617.779.7704 pmerrild@amicas.com Kevin Burns Senior Vice President and CFO 617.779.7855 kburns@amicas.com
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1114200-000095013406009204-c05145exv99w1
EX-99.1 3 c05145exv99w1.htm PRESS RELEASE exv99w1 DATE: May 9, 2006 FOR IMMEDIATE RELEASE AMERICAN MEDICAL SYSTEMS ACQUIRES SOLARANT MEDICAL IN TARGETING OFFICE-BASED STRESS URINARY INCONTINENCE SOLUTIONS Development Efforts will Focus on Radiofrequency Technology as an Incisionless Incontinence Therapy Option MINNEAPOLIS, May 9, 2006 - American Medical Systems Holdings, Inc. (NASDAQ: AMMD) today reported its acquisition of Solarant Medical, Inc., a privately funded company focused on the development of minimally invasive therapies for women who suffer from stress urinary incontinence. The purchase price is comprised of an initial payment and the potential for future payments linked to certain key milestones including FDA approval of the therapy and the establishment of reimbursement codes applicable to both the hospital and office settings. The former Solarant shareholders would also receive an earnout based on revenues achieved during the first three years in the event of product commercialization. In addition to these acquisition payments, AMS previously funded $1.0 million of Solarant's development efforts. Specific details of this acquisition will be filed with the SEC on Form 8-K. Martin J. Emerson, President and Chief Executive Officer of American Medical Systems, commented, "Office-based incontinence therapy will be the means by which physicians will ultimately reach a significantly greater number of the 80 million women around the world suffering from stress incontinence. We at AMS are eager to actively advance the development activities to this end based upon the solid foundation of the Solarant intellectual property portfolio and product concepts". About American Medical Systems American Medical Systems, headquartered in Minnetonka, Minnesota is a diversified supplier of medical devices and procedures to cure erectile dysfunction, benign prostatic hyperplasia, incontinence, menorrhagia, prolapse and other pelvic disorders in men and women. These disorders can significantly diminish one's quality of life and profoundly affect social relationships. In recent years, the number of people seeking treatment has increased markedly as a result of longer lives, higher quality-of-life expectations and greater awareness of new treatment alternatives. American Medical Systems' products reduce or eliminate the incapacitating effects of these diseases, often through minimally invasive therapies. The Company's products were used to provide approximately 170,000 patient cures in 56 countries during 2005. Forward-Looking Statements Statements about the Company's market opportunities, future products, sales and financial results are forward-looking statements subject to risks and uncertainties such as the timing and success of new product introductions; physician acceptance, endorsement, and use of the Company's products; regulatory matters; competitor activities; changes in and adoption of reimbursement rates; potential product recalls and other risks and uncertainties described in the Company's Annual Report on Form 10-K for the year ended December 31, 2005 and its other SEC filings. Actual results may differ materially from anticipated results. More information about the Company and its products can be found at its website www.AmericanMedicalSystems.com and in the Company's Annual Report on Form 10-K for 2005 and its other SEC filings. Contact: Carmen Diersen Executive Vice President and Chief Financial Officer 952-930-6495 Carmen.Diersen@AmericanMedicalSystems.com Marty Emerson President and Chief Executive Officer 952-930-6334 Marty.Emerson@AmericanMedicalSystems.com
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"and", "women", ".", "These", "disorders", "can", "significantly", "diminish", "one", "'s", "quality", "of", "life", "and", "profoundly", "affect", "social", "relationships", ".", "In", "recent", "years", ",", "the", "number", "of", "people", "seeking", "treatment", "has", "increased", "markedly", "as", "a", "result", "of", "longer", "lives", ",", "higher", "quality", "-", "of", "-", "life", "expectations", "and", "greater", "awareness", "of", "new", "treatment", "alternatives", ".", "American", "Medical", "Systems", "'", "products", "reduce", "or", "eliminate", "the", "incapacitating", "effects", "of", "these", "diseases", ",", "often", "through", "minimally", "invasive", "therapies", ".", "The", "Company", "'s", "products", "were", "used", "to", "provide", "approximately", "170,000", "patient", "cures", "in", "56", "countries", "during", "2005", ".", "Forward", "-", "Looking", "Statements", "Statements", "about", "the", "Company", "'s", "market", "opportunities", ",", "future", 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"www.AmericanMedicalSystems.com", "and", "in", "the", "Company", "'s", "Annual", "Report", "on", "Form", "10", "-", "K", "for", "2005", "and", "its", "other", "SEC", "filings", ".", "Contact", ":", "Carmen", "Diersen", "Executive", "Vice", "President", "and", "Chief", "Financial", "Officer", "952", "-", "930", "-", "6495", "Carmen.Diersen@AmericanMedicalSystems.com", "Marty", "Emerson", "President", "and", "Chief", "Executive", "Officer", "952", "-", "930", "-", "6334", "Marty.Emerson@AmericanMedicalSystems.com" ]
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1744894-000110465918066380-a18-39635_1ex99d1
EX-99.1 11 a18-39635_1ex99d1.htm EX-99.1 Exhibit 99.1 SIRIUS GROUP BECOMES PUBLIC COMPANY VIA BUSINESS COMBINATION WITH EASTERLY ACQUISITION CORP.; COMPLETES PRIVATE PLACEMENT; ANNOUNCES NEW MAJORITY-INDEPENDENT BOARD OF DIRECTORS - Sirius Group is a global, multi-line insurance and reinsurance group founded in 1945 with over 1,800 clients in over 140 countries- Hamilton, Bermuda and New York, NY - November 5, 2018 - Sirius International Insurance Group, Ltd. ("Sirius Group"), a global multi-line insurance and reinsurance group, announced that it has closed the previously announced business combination with Easterly Acquisition Corp. ("Easterly"), pursuant to which a wholly owned subsidiary of Sirius Group merged with and into Easterly, and Easterly became a wholly owned subsidiary of Sirius Group (the "Merger"). Pursuant to the Merger, shares of Easterly's common stock were exchanged for Sirius Group's common shares at a value equal to 1.05x Sirius Group's adjusted diluted GAAP book value per share as of September 30, 2018 (the "Merger Price"), and public warrants issued by Easterly to acquire shares of Easterly common stock were converted into warrants issued by Sirius Group to acquire Sirius Group common shares. Each share of Easterly common stock was exchanged for 0.609 of a Sirius Group common share. Sirius Group's common shares will be traded on the Nasdaq Global Select Market under the symbol "SG" beginning on November 6, 2018. Sirius Group has applied to list its public warrants on the OTCQX International market. In connection with the Merger, affiliated funds of Gallatin Point Capital, The Carlyle Group, Centerbridge Partners, L.P. and Bain Capital Credit purchased $205 million of Series B preference shares and $8 million of common shares of Sirius Group at the Merger Price. These investors received warrants valued at $10 million in the aggregate that are exercisable for a period of five years after the issue date at a strike price equal to 125% of the Merger Price. In addition, employees and "friends and family" of Sirius Group purchased $16 million of Sirius Group common shares at the Merger Price. Sirius Group also announced that it reconstituted its board of directors as of the closing of the Merger. In addition to its existing independent directors, Meyer (Sandy) Frucher, Vice Chairman of Nasdaq, Inc.; and Robert (Rob) L. Friedman, a private investor and former Chief Investment Officer of the Mutual Series group of funds, Alain Karaoglan, former Chief Operating Officer of Voya Financial, Inc.; Rachelle Keller, a former Managing Director of Citibank, NA; and James (Jim) Rogers, an international investor, author and financial commentator, have joined Sirius Group's board. These independent directors will serve alongside Allan L. Waters, Chairman and CEO of Sirius Group; and Feng (Laurence) Liao, CEO of CMIG International Holding Pte. Ltd., Sirius Group's principal equity holder following the Merger. Effective as of the closing of the Merger, Sirius Group's board of directors is comprised of a majority of independent directors in accordance with Nasdaq listing standards and each of the audit & risk management, compensation and nominating & governance committees are comprised entirely of independent directors. "This is a watershed day for Sirius Group" said Allan Waters, CEO and Chairman. "A public listing, increased shareholder diversification led by four globally recognized investment firms, and a strong, independent board will benefit all stakeholders and add fuel to our future growth". Sirius Group was represented by Sidley Austin LLP and Easterly was represented by Hogan Lovells US LLP. Citigroup Global Markets Inc. acted as financial advisor to Sirius Group. About Sirius Group Sirius Group is a Bermuda-based holding company with (re)insurance operating companies in Bermuda, Stockholm, New York and London. Established in 1945, Sirius Group, utilizing its unique global branch network, provides multi-line insurance and reinsurance in over 140 countries. Sirius Group wrote gross written premiums of $1.4 billion in 2017 utilizing disciplined and professional underwriting, superior risk evaluation and best-in-class pricing technology. Sirius Group's subsidiaries provide multi-line (re)insurance capacity, including lead capacity for property, accident & health and other exposures. Additional information is available at Sirius Group's website, located at www.siriusgroup.com. About Easterly LLC Easterly LLC is a private asset management holding company that has interests in boutique investment management firms. Easterly's core expertise is in acting as a principal to grow business platforms. Easterly enhances businesses as a partner through capital formation, corporate development, and strategic implementation activities. Easterly's principals have a proven track record of delivering outperformance to both public and private investors across a variety of sectors. For more information about Easterly, please visit Easterly's website at www.easterlycapital.com. About Easterly Acquisition Corp. Easterly Acquisition Corp. is a Special Purpose Acquisition Company sponsored by Easterly Acquisition Sponsor, LLC, an affiliate of Easterly LLC, for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or assets. Easterly Acquisition Corp. completed its initial public offering in August 2015, raising $200 million in cash proceeds. Easterly Acquisition Corp.'s officers and certain of its directors are affiliated with Easterly LLC. For more information about Easterly Acquisition Corp., please visit its website at www.easterlyacquisition.com. Forward-Looking Statements This communication 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, including statements about the growth prospects of Sirius Group. Forward-looking statements are typically identified by words such as "plan", "believe", "expect", "anticipate", "intend", "outlook", "estimate", "forecast", "project", "target", "continue", "could", "may", "might", "will", "possible", "potential", "predict", "should", "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements are based on the current expectations of the management of Sirius Group and are inherently subject to uncertainties and changes in circumstance and their potential effects and speak only as of the date of this communication. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, Sirius Group's exposure to unpredictable catastrophic and casualty events and unexpected accumulations of attritional losses; increased competition from existing insurers and reinsurers and from alternative capital providers, such as insurance-linked funds and collateralized special purpose insurers; decreased demand for Sirius Group's insurance or reinsurance products, consolidation and cyclical changes in the insurance and reinsurance industry; the inherent uncertainty of estimating loss and loss adjustment expenses reserves, including asbestos and environmental reserves, and the possibility that such reserves may be inadequate to cover Sirius Group's ultimate liability for losses; a decline in Sirius Group's operating subsidiaries' ratings with rating agencies; the limited liquidity and trading of Sirius Group's securities following the Merger; the ability to recognize the anticipated benefits of the Merger; costs related to the Merger and Sirius Group's status as a publicly traded company; and other factors identified in Sirius Group's Registration Statement on Form S-4 filed with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the assumptions made by the management of Sirius Group prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Except to the extent required by applicable law or regulation, Sirius Group undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this communication. Contact: Michael Papamichael Investor Relations (212) 312-0219
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1479681-000160706221000039-ex99_1
EX-99.1 5 ex99_1.htm EXHIBIT 99.1 CLINIGENCE HOLDINGS announces the successful acquisitions of accountable healthcare america, inc. and AHP Management, inc. to form one of the nation's leading technology-enabled population health management companies ATLANTA, GA − (PRNewswire) - March 2, 2021 - Clinigence Holdings, Inc. ("Clinigence" or the "Company") (OTC: CLNH), a pioneer in clinical data integration, clinical quality reporting and population health analytics, today announced the successful acquisitions of Accountable Healthcare America, Inc. ("AHA"), a leading medical management platform company and provider network in Florida, and AHP Management, Inc. ("AHP"), a management services organization and provider network in California. The newly combined company, which will be renamed Accountable Healthcare America and will be headquartered in Ft. Lauderdale, Florida, brings together three leading, complementary healthcare organizations to form one of the nation's leading technology-enabled, risk-bearing population health management companies. The transactions were approved by the Boards of Directors of all three companies. Based in Ft. Lauderdale, Florida and founded in 2017 by industry veterans with a combined 125 years of experience in the Medicare managed care space, AHA is a leading medical management platform company that currently has an investment in one of the most successful accountable care organizations with approximately 16,000 Medicare members through a network of over 65 providers. Through its investment AHA provides a suite of services for its providers, including care coordination, high-risk care managers, documentation improvement and medical coding programs, medical management best practices programs, health management programs such as annual wellness visits and chronic care management, and performance improvement plans. Based in Los Angeles, California and founded in 2000, AHP Management, Inc.'s affiliated medical group, AHP IPA, currently provides care for 22,065 patients, including approximately 1800 Medicare Advantage patients, through a network of 141 primary care physicians and 660 specialists. AHP Management's affiliated medical group, AHP IPA, has become a variable interest entity ("VIE") of Clinigence in order to be compliant with California's corporate practice of medicine regulations. The combination of the three companies fuses one of the leading healthcare information technology companies with two leading medical management companies to form a unique, scalable operating platform that is well positioned for the ongoing transition of U.S. healthcare from fee-for-service payments to value-based reimbursements, including full-risk, global capitation models. The platform also addresses another major theme in U.S. healthcare: faced with mounting costs, shifting regulations and burdensome billing, reporting and technology requirements, many physicians and medical groups have been selling their practices to larger hospital systems. The strategy of the combined company is to be one of the few, preeminent technology-enabled national medical groups by acquiring and/or operating medical groups, independent practice associations ("IPAs"), accountable care organizations ("ACOs"), management services organizations ("MSOs") and individual practices, allowing providers to focus on providing the best quality of care to their patients. Under the terms of the two merger agreements, Clinigence will issue newly-issued shares of common stock, on a fully-diluted pro rata basis, to the equity holders of AHP and AHA in exchange for 100% of the outstanding equity securities of AHP and AHA. The former AHP equity holders will own 45% of Clinigence's issued and outstanding common stock, the former AHA equity holders will own 35% of Clinigence's issued and outstanding common stock, and the former Clinigence equity holders will own 20% of Clinigence's issued and outstanding common stock, in each case on a fully-diluted, as converted basis as of immediately prior to the transactions. Warren Hosseinion, M.D., the Co-Founder and former CEO of NASDAQ-listed Apollo Medical Holdings and current Chairman of Clinigence, will serve as Chairman and CEO of the combined company. Fred Sternberg, Founder and CEO of AHA and Co-Founder and former CEO of publicly-listed Metropolitan Health Networks, which was subsequently sold to Humana for $850 million, will serve as President. The Board of Directors will consist of ten directors: seven from Clinigence, five of which are independent, one from AHA and one from AHP. One new independent director has been added to the Board: Randall Stern, Founding Member and Chairman of the Investment Committee of Boone Opportunity Lenders, an independent sponsor in Greenwich, CT, that manages investment funds and provides capital for companies seeking to complete acquisitions, management buyouts and recapitalizations. One Board Observer is also being added: Oded Levy, Co-Founder, President and Managing Partner of Blue Ox Healthcare Partners, a private equity firm in New York City that invests in healthcare companies. "We are excited to announce the strategic mergers with AHA and AHP to create one of the leading technology-enabled population health management companies in the country. We expect to be an active participant in the consolidation of our industry", stated Warren Hosseinion, M.D., Chairman and Chief Executive Officer. "We believe that combining our three companies will give us the necessary scale, leadership, technology and intellectual capital to succeed in today's U.S. healthcare delivery market. And as stated before, our goal is to seek to list our common stock on the Nasdaq Capital Market". Proposed Timeline for Listing of Common Stock on Nasdaq Clinigence intends to apply for listing on Nasdaq as soon as practicable. The process is expected to take 4-6 months to complete, but could take longer. There can be no assurance that the company will be able to list its common stock on Nasdaq. Name Change and Trading Symbol Update The Company intends to change its name to Accountable Healthcare America and to apply for a new ticker symbol. Copies of the merger agreements in their entirety and the Form 8-K report may be accessed at www.sec.gov. About Clinigence Holdings, Inc. Clinigence Holdings, a fully reporting, publicly-held company, is a leading healthcare information technology company providing an advanced, cloud-based platform that enables healthcare organizations to provide value-based care and population health management. The Clinigence platform aggregates clinical and claims data across multiple settings, information systems and sources to create a holistic view of each patient and provider and virtually unlimited insights into patient populations. For more information, please visit www.clinigencehealth.com. Information on our website does not comprise a part of this press release. Safe Harbor: Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Act of 1995. When used in this press release, the words or phrases "will likely result", "expected to", "will continue", "anticipated", "estimate", "projected," "intend", "goal", or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to, economic conditions, dependence on management, dilution to shareholders, lack of capital, changes in laws or regulations, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth, demand for products and services of the Company, newly developing technologies, its ability to compete, conflicts of interest in related party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition, the inability of the Company to obtain or maintain the listing of the post-acquisition company's ordinary shares on Nasdaq following the Merger, and the ability of the Company to obtain additional financing. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release. FOR ADDITIONAL INFORMATION: Clinigence Holdings, Inc. Mike Bowen Chief Financial Officer Via email at mike.bowen@ahahealthcare.net 1
[ "EX", "-", "99", ".", "1", "5", "ex99", "_", "1", ".", "htm", "EXHIBIT", "99", ".", "1", "CLINIGENCE", "HOLDINGS", "announces", "the", "successful", "acquisitions", "of", "accountable", "healthcare", "america", ",", "inc", ".", "and", "AHP", "Management", ",", "inc", ".", "to", "form", "one", "of", "the", "nation", "'s", "leading", "technology", "-", "enabled", "population", "health", "management", "companies", "ATLANTA", ",", "GA", "−", "(", "PRNewswire", ")", "-", "March", "2", ",", "2021", "-", "Clinigence", "Holdings", ",", "Inc", ".", "(", "\"", "Clinigence", "\"", "or", "the", "\"", "Company", "\"", ")", "(", "OTC", ":", "CLNH", ")", ",", "a", "pioneer", "in", "clinical", "data", "integration", ",", "clinical", "quality", "reporting", "and", "population", "health", "analytics", ",", "today", "announced", "the", "successful", "acquisitions", "of", "Accountable", "Healthcare", "America", ",", "Inc", ".", "(", "\"", "AHA", "\"", ")", ",", "a", "leading", "medical", "management", "platform", "company", "and", "provider", "network", "in", "Florida", ",", "and", "AHP", "Management", ",", "Inc", ".", "(", "\"", "AHP", "\"", ")", ",", "a", "management", "services", "organization", "and", "provider", "network", "in", "California", ".", "The", "newly", "combined", "company", ",", "which", "will", "be", "renamed", "Accountable", "Healthcare", "America", "and", "will", "be", "headquartered", "in", "Ft", ".", "Lauderdale", ",", "Florida", ",", "brings", "together", "three", "leading", ",", "complementary", "healthcare", "organizations", "to", "form", "one", "of", "the", "nation", "'s", "leading", "technology", "-", "enabled", ",", "risk", "-", "bearing", "population", "health", "management", "companies", ".", "The", "transactions", "were", "approved", "by", "the", "Boards", "of", "Directors", "of", "all", "three", "companies", ".", "Based", "in", "Ft", ".", "Lauderdale", ",", "Florida", "and", "founded", "in", "2017", "by", "industry", "veterans", "with", "a", "combined", "125", "years", "of", "experience", "in", "the", "Medicare", "managed", "care", "space", ",", "AHA", "is", "a", "leading", "medical", "management", "platform", "company", "that", "currently", "has", "an", "investment", "in", "one", "of", "the", "most", "successful", "accountable", "care", "organizations", "with", "approximately", "16,000", "Medicare", "members", "through", "a", "network", "of", "over", "65", "providers", ".", "Through", "its", "investment", "AHA", "provides", "a", "suite", "of", "services", "for", "its", "providers", ",", "including", "care", "coordination", ",", "high", "-", "risk", "care", "managers", ",", "documentation", "improvement", "and", "medical", "coding", "programs", ",", "medical", "management", "best", "practices", "programs", ",", "health", "management", "programs", "such", "as", "annual", "wellness", "visits", "and", "chronic", "care", "management", ",", "and", "performance", "improvement", "plans", ".", "Based", "in", "Los", "Angeles", ",", "California", "and", "founded", "in", "2000", ",", "AHP", "Management", ",", "Inc", ".", "'s", "affiliated", "medical", "group", ",", "AHP", "IPA", ",", "currently", "provides", "care", "for", "22,065", "patients", ",", "including", "approximately", "1800", "Medicare", "Advantage", "patients", ",", "through", "a", "network", "of", "141", "primary", "care", "physicians", "and", "660", "specialists", ".", "AHP", "Management", "'s", "affiliated", "medical", "group", ",", "AHP", "IPA", ",", "has", "become", "a", "variable", "interest", "entity", "(", "\"", "VIE", "\"", ")", "of", "Clinigence", "in", "order", "to", "be", "compliant", "with", "California", "'s", "corporate", "practice", "of", "medicine", "regulations", ".", "The", "combination", "of", "the", "three", "companies", "fuses", "one", "of", "the", "leading", "healthcare", "information", "technology", "companies", "with", "two", "leading", "medical", "management", "companies", "to", "form", "a", "unique", ",", "scalable", "operating", "platform", "that", "is", "well", "positioned", "for", "the", "ongoing", "transition", "of", "U", ".", "S", ".", "healthcare", "from", "fee", "-", "for", "-", "service", "payments", "to", "value", "-", "based", "reimbursements", ",", "including", "full", "-", "risk", ",", "global", "capitation", "models", ".", "The", "platform", "also", "addresses", "another", "major", "theme", "in", "U", ".", "S", ".", "healthcare", ":", "faced", "with", "mounting", "costs", ",", "shifting", "regulations", "and", "burdensome", "billing", ",", "reporting", "and", "technology", "requirements", ",", "many", "physicians", "and", "medical", "groups", "have", "been", "selling", "their", "practices", "to", "larger", "hospital", "systems", ".", "The", "strategy", "of", "the", "combined", "company", "is", "to", "be", "one", "of", "the", "few", ",", "preeminent", "technology", "-", "enabled", "national", "medical", "groups", "by", "acquiring", "and", "/", "or", "operating", "medical", "groups", ",", "independent", "practice", "associations", "(", "\"", "IPAs", "\"", ")", ",", "accountable", "care", "organizations", "(", "\"", "ACOs", "\"", ")", ",", "management", "services", "organizations", "(", "\"", "MSOs", "\"", ")", "and", "individual", "practices", ",", "allowing", "providers", "to", "focus", "on", "providing", "the", "best", "quality", "of", "care", "to", "their", "patients", ".", "Under", "the", "terms", "of", "the", "two", "merger", "agreements", ",", "Clinigence", "will", "issue", "newly", "-", "issued", "shares", "of", "common", "stock", ",", "on", "a", "fully", "-", "diluted", "pro", "rata", "basis", ",", "to", "the", "equity", "holders", "of", "AHP", "and", "AHA", "in", "exchange", "for", "100", "%", "of", "the", "outstanding", "equity", "securities", "of", "AHP", "and", "AHA", ".", "The", "former", "AHP", "equity", "holders", "will", "own", "45", "%", "of", "Clinigence", "'s", "issued", "and", "outstanding", "common", "stock", ",", "the", "former", "AHA", "equity", "holders", "will", "own", "35", "%", "of", "Clinigence", "'s", "issued", "and", "outstanding", "common", "stock", ",", "and", "the", "former", "Clinigence", "equity", "holders", "will", "own", "20", "%", "of", "Clinigence", "'s", "issued", "and", "outstanding", "common", "stock", ",", "in", "each", "case", "on", "a", "fully", "-", "diluted", ",", "as", "converted", "basis", "as", "of", "immediately", "prior", "to", "the", "transactions", ".", "Warren", "Hosseinion", ",", "M", ".", "D", ".", ",", "the", "Co", "-", "Founder", "and", "former", "CEO", "of", "NASDAQ", "-", "listed", "Apollo", "Medical", "Holdings", "and", "current", "Chairman", "of", "Clinigence", ",", "will", "serve", "as", "Chairman", "and", "CEO", "of", "the", "combined", "company", ".", "Fred", "Sternberg", ",", "Founder", "and", "CEO", "of", "AHA", "and", "Co", "-", "Founder", "and", "former", "CEO", "of", "publicly", "-", "listed", "Metropolitan", "Health", "Networks", ",", "which", "was", "subsequently", "sold", "to", "Humana", "for", "$", "850 million", ",", "will", "serve", "as", "President", ".", "The", "Board", "of", "Directors", "will", "consist", "of", "ten", "directors", ":", "seven", "from", "Clinigence", ",", "five", "of", "which", "are", "independent", ",", "one", "from", "AHA", "and", "one", "from", "AHP", ".", "One", "new", "independent", "director", "has", "been", "added", "to", "the", "Board", ":", "Randall", "Stern", ",", "Founding", "Member", "and", "Chairman", "of", "the", "Investment", "Committee", "of", "Boone", "Opportunity", "Lenders", ",", "an", "independent", "sponsor", "in", "Greenwich", ",", "CT", ",", "that", "manages", "investment", "funds", "and", "provides", "capital", "for", "companies", "seeking", "to", "complete", "acquisitions", ",", "management", "buyouts", "and", "recapitalizations", ".", "One", "Board", "Observer", "is", "also", "being", "added", ":", "Oded", "Levy", ",", "Co", "-", "Founder", ",", "President", "and", "Managing", "Partner", "of", "Blue", "Ox", "Healthcare", "Partners", ",", "a", "private", "equity", "firm", "in", "New", "York", "City", "that", "invests", "in", "healthcare", "companies", ".", "\"", "We", "are", "excited", "to", "announce", "the", "strategic", "mergers", "with", "AHA", "and", "AHP", "to", "create", "one", "of", "the", "leading", "technology", "-", "enabled", "population", "health", "management", "companies", "in", "the", "country", ".", "We", "expect", "to", "be", "an", "active", "participant", "in", "the", "consolidation", "of", "our", "industry", "\"", ",", "stated", "Warren", "Hosseinion", ",", "M", ".", "D", ".", ",", "Chairman", "and", "Chief", "Executive", "Officer", ".", "\"", "We", "believe", "that", "combining", "our", "three", "companies", "will", "give", "us", "the", "necessary", "scale", ",", "leadership", ",", "technology", "and", "intellectual", "capital", "to", "succeed", "in", "today", "'s", "U", ".", "S", ".", "healthcare", "delivery", "market", ".", "And", "as", "stated", "before", ",", "our", "goal", "is", "to", "seek", "to", "list", "our", "common", "stock", "on", "the", "Nasdaq", "Capital", "Market", "\"", ".", "Proposed", "Timeline", "for", "Listing", "of", "Common", "Stock", "on", "Nasdaq", "Clinigence", "intends", "to", "apply", "for", "listing", "on", "Nasdaq", "as", "soon", "as", "practicable", ".", "The", "process", "is", "expected", "to", "take", "4", "-", "6", "months", "to", "complete", ",", "but", "could", "take", "longer", ".", "There", "can", "be", "no", "assurance", "that", "the", "company", "will", "be", "able", "to", "list", "its", "common", "stock", "on", "Nasdaq", ".", "Name", "Change", "and", "Trading", "Symbol", "Update", "The", "Company", "intends", "to", "change", "its", "name", "to", "Accountable", "Healthcare", "America", "and", "to", "apply", "for", "a", "new", "ticker", "symbol", ".", "Copies", "of", "the", "merger", "agreements", "in", "their", "entirety", "and", "the", "Form", "8", "-", "K", "report", "may", "be", "accessed", "at", "www.sec.gov", ".", "About", "Clinigence", "Holdings", ",", "Inc", ".", "Clinigence", "Holdings", ",", "a", "fully", "reporting", ",", "publicly", "-", "held", "company", ",", "is", "a", "leading", "healthcare", "information", "technology", "company", "providing", "an", "advanced", ",", "cloud", "-", "based", "platform", "that", "enables", "healthcare", "organizations", "to", "provide", "value", "-", "based", "care", "and", "population", "health", "management", ".", "The", "Clinigence", "platform", "aggregates", "clinical", "and", "claims", "data", "across", "multiple", "settings", ",", "information", "systems", "and", "sources", "to", "create", "a", "holistic", "view", "of", "each", "patient", "and", "provider", "and", "virtually", "unlimited", "insights", "into", "patient", "populations", ".", "For", "more", "information", ",", "please", "visit", "www.clinigencehealth.com", ".", "Information", "on", "our", "website", "does", "not", "comprise", "a", "part", "of", "this", "press", "release", ".", "Safe", "Harbor", ":", "Certain", "statements", "and", "information", "included", "in", "this", "press", "release", "constitute", "\"", "forward", "-", "looking", "statements", "\"", "within", "the", "meaning", "of", "the", "Federal", "Private", "Securities", "Litigation", "Act", "of", "1995", ".", "When", "used", "in", "this", "press", "release", ",", "the", "words", "or", "phrases", "\"", "will", "likely", "result", "\"", ",", "\"", "expected", "to", "\"", ",", "\"", "will", "continue", "\"", ",", "\"", "anticipated", "\"", ",", "\"", "estimate", "\"", ",", "\"", "projected", ",", "\"", "\"", "intend", "\"", ",", "\"", "goal", "\"", ",", "or", "similar", "expressions", "are", "intended", "to", "identify", "\"", "forward", "-", "looking", "statements", "\"", "within", "the", "meaning", "of", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ".", "Such", "statements", "are", "subject", "to", "certain", "risks", ",", "known", "and", "unknown", ",", "and", "uncertainties", ",", "including", "but", "not", "limited", "to", ",", "economic", "conditions", ",", "dependence", "on", "management", ",", "dilution", "to", "shareholders", ",", "lack", "of", "capital", ",", "changes", "in", "laws", "or", "regulations", ",", "the", "effects", "of", "rapid", "growth", "upon", "the", "Company", "and", "the", "ability", "of", "management", "to", "effectively", "respond", "to", "the", "growth", ",", "demand", "for", "products", "and", "services", "of", "the", "Company", ",", "newly", "developing", "technologies", ",", "its", "ability", "to", "compete", ",", "conflicts", "of", "interest", "in", "related", "party", "transactions", ",", "regulatory", "matters", ",", "protection", "of", "technology", ",", "lack", "of", "industry", "standards", ",", "the", "effects", "of", "competition", ",", "the", "inability", "of", "the", "Company", "to", "obtain", "or", "maintain", "the", "listing", "of", "the", "post", "-", "acquisition", "company", "'s", "ordinary", "shares", "on", "Nasdaq", "following", "the", "Merger", ",", "and", "the", "ability", "of", "the", "Company", "to", "obtain", "additional", "financing", ".", "Such", "factors", "could", "materially", "adversely", "affect", "the", "Company", "'s", "financial", "performance", "and", "could", "cause", "the", "Company", "'s", "actual", "results", "for", "future", "periods", "to", "differ", "materially", "from", "any", "opinions", "or", "statements", "expressed", "within", "this", "press", "release", ".", "FOR", "ADDITIONAL", "INFORMATION", ":", "Clinigence", "Holdings", ",", "Inc", ".", "Mike", "Bowen", "Chief", "Financial", "Officer", "Via", "email", "at", "mike.bowen@ahahealthcare.net", "1" ]
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1041803-000104180310000025-ex99_1
EX-99.1 2 ex99_1.htm COLOMBIA REAL ESTATE PURCHASE AGREEMENT ex99_1.htm PriceSmart, Inc. Announces Purchase Agreement for Real Estate in Colombia San Diego, CA (June 28, 2010) - PriceSmart, Inc. (NASDAQ: PSMT) (www.pricesmart.com) today announced that on June 18, 2010 it entered into an agreement to acquire approximately 19,500 square meters of property located in Barranquilla, Colombia, upon which PriceSmart anticipates constructing its first warehouse club in Colombia. The transaction, which is subject to certain contingencies, is currently planned to close late this calendar year. PriceSmart currently anticipates opening the Barranquilla warehouse club in the summer, 2011. About PriceSmart PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Central America and the Caribbean, selling high quality merchandise at low prices to PriceSmart members. PriceSmart now operates 27 warehouse clubs in 11 countries and one U.S. territory (five in Costa Rica; four each in Panama and Trinidad; three in Guatemala, two each in Dominican Republic, El Salvador and Honduras; and one each in Aruba, Barbados, Jamaica, Nicaragua and the United States Virgin Islands). This press release may contain forward-looking statements concerning the Company's anticipated future revenues and earnings, adequacy of future cash flow and related matters. These forward-looking statements include, but are not limited to, statements containing the words "expect", "believe", "will", "may", "should", "project", "estimate", "scheduled", and like expressions, and the negative thereof. These statements are subject to risks and uncertainties that could cause actual results to differ materially, including the following risks: the Company's financial performance is dependent on international operations which exposes the Company to various risks; any failure by the Company to manage its widely dispersed operations could adversely affect the Company's business; the Company faces significant competition; the Company may encounter difficulties in the shipment of and risks inherent in the importation of merchandise to its warehouse clubs; the Company is exposed to weather and other natural disaster risks associated with international operations; declines in the economies of the countries in which the Company operates its warehouse clubs would harm its business; a few of the Company's stockholders own nearly 40% of the Company's voting stock, which may make it difficult to complete some corporate transactions without their support and may impede a change in control; the loss of key personnel could harm the Company's business; the Company is subject to volatility in foreign currency exchange; the Company faces the risk of exposure to product liability claims, a product recall and adverse publicity; a determination that the Company's long-lived or intangible assets have been impaired could adversely affect the Company's future results of operations and financial position; and the Company faces increased compliance risks associated with compliance with Section 404 of the Sarbanes-Oxley Act of 2002; as well as the other risks detailed in the Company's SEC reports, including the Company's Annual Report on Form 10-K filed pursuant to the Securities Exchange Act of 1934 on November 9, 2009. We assume no obligation and expressly disclaim any duty to update any forward-looking statement to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events. For further information, please contact Robert E. Price, Principal Executive Officer (858) 551-2336.
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764039-000114420406008445-v036864_ex99-1
EX-99.1 2 v036864_ex99-1.txt Exhibit 99.1 Simclar, Inc. Announces Agreement to Acquire Litton Systems, Inc.'s Interconnect Assembly Business Hialeah, FL--February 27, 2006- Simclar, Inc. (NASDAQ:SIMC), a multi-plant electronics contract manufacturer, announced today that it has completed the acquisition of certain assets of the Northrop Grumman-owned Litton Interconnect Technologies assembly business in the US into Simclar Interconnect Technologies, Inc., a newly-formed wholly owned subsidiary of Simclar, Inc. The purchase price for the assets was $16 million, financed through a credit facility with the Bank of Scotland. As part of the same transaction, Simclar, Inc.'s parent company, Simclar Group Limited has also acquired certain assets of the Litton Interconnect Technologies assembly business in the UK and China through its subsidiary Simclar Interconnect Technologies Limited. Litton Interconnect Technologies' assembly business is a world-leading supplier of high-performance backplane interconnect solutions to major blue-chip customers in markets as diverse as network, wireline and wireless infrastructure, defense and electronic data processing. Backplane interconnect systems form the core of high-end electronic systems and provide the means for power distribution and data communications between electronic sub-system building blocks. Simclar, Inc. Chairman, Sam Russell, commented: "We are pleased the acquisition has been completed and excited about the major source of competitive advantage we are able to offer our customers as a result of this transaction. The combination of our advanced backplane interconnect solutions with our capabilities to supply printed circuit board assemblies, metal fabrication, cabling solutions and higher level assemblies will create a valuable one-stop-shop for OEM system design and integration needs". Simclar, Inc. has six North American manufacturing locations and 30 years experience providing contract manufacturing of electronic and electro-mechanical products for OEMs. Statements in this news release, which relate to other than strictly historical facts, such as statements about the Company's plans and strategies, expectations for future financial performance, and markets for the Company's products and services are forward-looking statements. The words "believe", "expect," "anticipate", "estimate", "project", and similar expressions identify forward-looking statements that speak only as of the date hereof. Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from historical or anticipated results due to many factors including, but not limited to, the Company's customer concentration, debt covenants, competition, and other risks detailed in the Company's most recent Annual Report on Form 10-K and other Securities and Exchange Commission filings. The Company undertakes no obligation to publicly update or revise any forward-looking statements. Visit Simclar, Inc. at its website, http://www.simclar.com for more information about the Company. Contact: Simclar, Inc., Hialeah Marshall Griffin, 937-220-9777
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1515816-000117152014000791-ex99-1
EX-99.1 2 ex99-1.htm PLYMOUTH INDUSTRIAL REIT ACQUIRES SEVEN PROPERTIES Exhibit 99.1 PLYMOUTH INDUSTRIAL REIT ACQUIRES SEVEN PROPERTIES BOSTON, MA , December 8, 2014-Plymouth Industrial REIT, Inc. (the "Company"), a self-managed industrial property real estate company, announced today that it has closed on acquisitions consisting of seven warehouse distribution and light industrial properties. The acquisitions total approximately 1.35 million rentable square feet, for an aggregate purchase price of approximately $60 million. The acquisitions the Company closed are as follows: · A portfolio of three warehouse distribution properties located in the Cincinnati, Ohio metropolitan area and Florence, Kentucky. The properties consist of three buildings with approximately 576,801 rentable square feet and are 100% leased under triple net leases. · A light industrial property that is located in Newnan, Georgia, has approximately 194,000 rentable square feet and is 100% leased under triple net leases. · A light industrial/distribution property that is located in Portland, Maine, has approximately 200,625 rentable square feet and is 100% leased under triple net leases. · A light industrial/distribution property that is located in Ginsburg, Ohio, has approximately 255,570 rentable square feet and is 100% leased under triple net leases. · A light industrial property that is located in Marlton, New Jersey has approximately 156,280 rentable square feet and is 97% leased under triple net leases. Jeff Witherell, the Company's CEO commented, "We are pleased with our ability to close these additional seven properties into our portfolio to further diversify our geographic footprint". About Plymouth Industrial REIT Plymouth Industrial REIT is a full service, vertically integrated, self-administered and self-managed Maryland corporation focused on the acquisition and management of single and multi-tenant distribution centers, warehouses and light industrial properties, primarily located in secondary and select primary markets across the Eastern half of the U.S. and Texas. The Company owns and operates, or has interests in, twenty one light industrial, warehouse or distribution properties located in six states with an aggregate of approximately 5,000,000 rentable square feet. The Company conducts business through an UPREIT structure in which its properties are owned by Plymouth Industrial OP, LP, a Delaware limited partnership (the "operating partnership'), directly or through wholly-owned subsidiaries of the operating partnership. Forward-Looking Statements Matters discussed in this news release regarding our future plans are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are often identified by the words "intend," "believe", "positioned", "estimate", "project", "target", "plan," "goal", "assumption", "continue", "expect", "future", "anticipate," and other similar expressions, whether in the negative or the affirmative, that are not statements of historical fact. These forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, and assumptions that are difficult to predict, and you should not place undue reliance on our forward-looking statements. Our actual results and timing of certain events could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including, but not limited to, those discussed from time to time in our reports filed with the Securities and Exchange Commission, including our Form 10-K for the fiscal year ended December 31, 2013 and our quarterly reports on Form 10-Q. All forward-looking statements and the internal projections and beliefs upon which we based our expectations included in this release are made only as of the date of this release and may change. While we may elect to update forward-looking statements at some point in the future, we expressly disclaim any objection to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
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1053650-000143774917021104-ex_102425
EX-99.1 4 ex_102425.htm EXHIBIT 99.1 ex_102399.htm Exhibit 99.1 Cooke Inc. acquires Omega Protein Corporation SAINT JOHN, NEW BRUNSWICK, CANADA and HOUSTON, TEXAS, USA - December 19, 2017 - Cooke Inc. ("Cooke"), a New Brunswick company and parent of Cooke Aquaculture Inc., today announced the completion of its acquisition of Omega Protein Corporation (NYSE: OME) ("Omega Protein"), a nutritional product company and a leading integrated provider of specialty oils and specialty protein products. Under terms of the transaction, Cooke has acquired all outstanding shares of Omega Protein for $22 per share in cash, or a total value of approximately $500 million USD. "The acquisition of Omega Protein will help further diversify the supply side of our business and supports our strategy of responsible growth as a leader in seafood production", said Glenn Cooke, CEO of Cooke Inc. "We are bringing together two innovative fishery teams with a passion for delivering superior products, service, and value to our customers in a safe and environmentally sustainable manner". Cooke Aquaculture Inc. has achieved Best Aquaculture Practices (BAP) certification for our North and South American salmon aquaculture operations. BAP is the world's only aquaculture certification program that covers the entire production chain (hatcheries, feed mills, farms and processing plants). Omega Protein is on track to be approved by the Marine Stewardship Council (MSC). The MSC is the only wild-capture fisheries certification and ecolabelling program that meets best practice requirements set by both the United Nations Food and Agriculture Organization (UNFAO) and ISEAL, the global membership association for sustainability standards. Omega Protein is a century-old nutritional product company that develops, produces and delivers healthy products throughout the world to improve the nutritional integrity of foods, dietary supplements and animal feeds. Omega Protein's mission is to help people lead healthier lives with better nutrition through sustainably sourced ingredients such as highly-refined specialty oils, specialty protein products and nutraceuticals. The Company operates seven manufacturing facilities located in the United States, Canada and Europe. Prior to the closing of the acquisition, the Company operated more than 30 vessels to harvest menhaden, a fish abundantly found in the Atlantic Ocean and Gulf of Mexico. Going forward, these vessels will be operated by Alpha VesselCo Holdings, Inc. " With over 1,000 employees and a purchase price of $500 Million USD, Omega Protein is the largest acquisition in the 32-year history of Cooke", added Glenn Cooke. "We started our family-operated company in 1985 and through the hard work of our employees have grown to become a fully integrated global seafood leader offering a wide array of farmed and wild-caught products to customers around the world". www.cookeseafood.com www.truenorthseafood.com -1- The animal feed ingredients produced by Omega Protein are an important component in Cooke Aquaculture 's production of healthy Atlantic salmon, making this acquisition a strategic move that greatly enhances Cooke's vertical integration. The Cooke family of companies includes global aquaculture divisions under Cooke Inc. and its wholly-owned subsidiary Cooke Aquaculture Inc. as well as a Canadian aquaculture division operated by its affiliate, Kelly Cove Salmon Ltd. The company also includes seafood divisions under Cooke Seafood USA, Inc. and Icicle Seafoods, Inc. Cooke Aquaculture Inc. is a vertically-integrated aquaculture corporation based in Blacks Harbour, New Brunswick, Canada with salmon farming operations in Atlantic Canada, the United States (Maine and Washington), Chile and Scotland as well as seabass and seabream farming operations in Spain. Aquaculture operations include land-based juvenile production, marine farms, processing and distribution facilities and a global sales and marketing team as well as a full value chain service and supply sector. In 2015, the Cooke family entered the wild fishery, creating Cooke Seafood USA, Inc. which acquired Wanchese Fish Company, Inc. In 2016, the family expanded its investments in the wild fisheries through their acquisitions of Icicle Seafoods, Inc., in the USA and the assets of Fripur S.A., the largest fishing company in Uruguay. With the acquisition of Omega Protein, the Cooke family of companies now employ approximately 6, 000 people world-wide. CONTACTS: Joel Richardson , VP Public Relations, Cooke Inc. (506) 721-1093, Joel.Richardson@cookeaqua.com Ben Landry, Director of Public Affairs, Omega Protein Corporation 713-623-0060, publicaffairs@omegaprotein.com www.cookeseafood.com www.truenorthseafood.com -2-
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"over", "1,000", "employees", "and", "a", "purchase", "price", "of", "$", "500 Million", "USD", ",", "Omega", "Protein", "is", "the", "largest", "acquisition", "in", "the", "32", "-", "year", "history", "of", "Cooke", "\"", ",", "added", "Glenn", "Cooke", ".", "\"", "We", "started", "our", "family", "-", "operated", "company", "in", "1985", "and", "through", "the", "hard", "work", "of", "our", "employees", "have", "grown", "to", "become", "a", "fully", "integrated", "global", "seafood", "leader", "offering", "a", "wide", "array", "of", "farmed", "and", "wild", "-", "caught", "products", "to", "customers", "around", "the", "world", "\"", ".", "www.cookeseafood.com", "www.truenorthseafood.com", "-", "1", "-", "The", "animal", "feed", "ingredients", "produced", "by", "Omega", "Protein", "are", "an", "important", "component", "in", "Cooke", "Aquaculture", "'s", "production", "of", "healthy", "Atlantic", "salmon", ",", "making", "this", "acquisition", "a", "strategic", "move", "that", 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"Cooke", "family", "of", "companies", "now", "employ", "approximately", "6", ",", "000", "people", "world", "-", "wide", ".", "CONTACTS", ":", "Joel", "Richardson", ",", "VP", "Public", "Relations", ",", "Cooke", "Inc", ".", "(", "506", ")", "721", "-", "1093", ",", "Joel.Richardson@cookeaqua.com", "Ben", "Landry", ",", "Director", "of", "Public", "Affairs", ",", "Omega", "Protein", "Corporation", "713", "-", "623", "-", "0060", ",", "publicaffairs@omegaprotein.com", "www.cookeseafood.com", "www.truenorthseafood.com", "-", "2", "-" ]
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1041657-000104165708000015-exhibit99-1
EX-99.1 3 exhibit99-1.htm PRESS RELEASE exhibit99-1.htm NEWS RELEASE April 10, 2008 Contact: Peter D. Thompson, EVP and CFO FOR IMMEDIATE RELEASE (301) 429-4638: pthompson@radio-one.com Washington, DC Radio One, Inc. Announces the Acquisition of Social Media Network Community Connect Inc. WASHINGTON, DC - Radio One, Inc. (NASDAQ:ROIAK and ROIA) today announced that it has acquired the social networking company, Community Connect Inc. for a transaction price of approximately $38.0 million dollars. Community Connect Inc. ("CCI"), which owns and operates a number of social networking brands under its umbrella including BlackPlanet.com, MiGente.com, and AsianAve.com, is the leading online niche social-networking company. With over 20 million members it is the 4th most visited U.S. social networking property/publisher. (Hitwise January 2008). "CCI is an innovator and pioneer in social networking", says Alfred Liggins, III, Radio One's CEO and President. "We believe that they are a great complement to our existing radio, TV, and online properties". This acquisition is another example of Radio One, Inc.'s continued strategy of diversification outside of the radio broadcasting space in order to deliver a more holistic approach to targeting African Americans. Radio One purchased GIANT, a magazine targeting Urban consumers, in December, 2006 and has an interest in the African-American targeted cable network, TV ONE. This acquisition gives Radio One a strong foothold in the ever growing social networking and multicultural online space. "We will be the clear number one in the African-American online space", said Mr. Liggins. Analyst eMarketer predicts that by 2011, $4.1 billion will be spent worldwide for social network advertising, a dramatic increase from the $480 million spent in 2006. In 2008 alone, global ad spend in the social networking arena is expected to increase 75% year over year, amounting to $2.1 billion (eMarketer, Social Network Marketing: Ad Spending and Usage, December 2007). "This is a great opportunity to take CCI to the next level", said Ben Sun, President and Founder of CCI. "Radio One reaches over 20 million people every week in radio, TV, print and online, giving us the opportunity to capitalize on cross-platform opportunities for our brands that will truly benefit our members and advertisers". "CCI's management team recognizes that the Internet is less about single destinations and more about connecting people, around touchpoints of culture and lifestyles. They have built incredible loyalty among their members," said Tom Newman, President of Radio One's Interactive division. Upon closing the transaction current President and Founder Ben Sun will continue to run CCI and will report to Tom Newman. Community Connect Inc. has approximately 100 employees and is headquartered in New York City. Rothschild, Inc. acted as financial advisor to Radio One in connection with the transaction. Bear, Stearns & Co. Inc. acted as financial advisor to Community Connect Inc. in connection with the transaction. Radio One, Inc. (www.radio-one.com) is one of the nation's largest radio broadcasting companies and the largest radio broadcasting company that primarily targets African-American and urban listeners. Pro forma for recently announced transactions, Radio One owns and/or operates 53 radio stations located in 16 urban markets in the United States. Additionally, Radio One owns Magazine One, Inc. (d/b/a Giant Magazine) (www.giantmag.com), interests in TV One, LLC (www.tvoneonline.com), a cable/satellite network programming primarily to African-Americans and Reach Media, Inc. (www.blackamericaweb.com), owner of the Tom Joyner Morning Show and other businesses associated with Tom Joyner. Cautionary Note Regarding Forward-Looking Statements: This press release includes 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. Forward-looking statements represent management's current expectations and are based upon information available to Radio One at the time of this release. These forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond Radio One's control, that may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Radio One does not undertake to update any forward-looking statements.
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"alone", ",", "global", "ad", "spend", "in", "the", "social", "networking", "arena", "is", "expected", "to", "increase", "75", "%", "year", "over", "year", ",", "amounting", "to", "$", "2.1 billion", "(", "eMarketer", ",", "Social", "Network", "Marketing", ":", "Ad", "Spending", "and", "Usage", ",", "December", "2007", ")", ".", "\"", "This", "is", "a", "great", "opportunity", "to", "take", "CCI", "to", "the", "next", "level", "\"", ",", "said", "Ben", "Sun", ",", "President", "and", "Founder", "of", "CCI", ".", "\"", "Radio", "One", "reaches", "over", "20", "million", "people", "every", "week", "in", "radio", ",", "TV", ",", "print", "and", "online", ",", "giving", "us", "the", "opportunity", "to", "capitalize", "on", "cross", "-", "platform", "opportunities", "for", "our", "brands", "that", "will", "truly", "benefit", "our", "members", "and", "advertisers", "\"", ".", "\"", "CCI", "'s", "management", "team", "recognizes", "that", "the", "Internet", "is", "less", "about", "single", 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1442626-000114420414020010-v373557_ex99-2
EX-99.2 10 v373557_ex99-2.htm EXHIBIT 99.2 Bluerock Residential Growth REIT, Inc. Announces Sale of Creekside Property, Appointment of Treasurer and Updates to Corporate Governance Documents Company Release - 4/1/2014 [ INSERT TIME ] NEW YORK--(BUSINESS WIRE)-Bluerock Residential Growth REIT (NYSE MKT: BRG) (the "Company") today announced the sale by BR Creekside, LLC, a special-purpose entity in which the Company holds a 24.706% indirect equity interest, of The Reserve at Creekside Village, a 192-unit garden-style apartment community located in Chattanooga, Tennessee. The Creekside property was sold to SIR Creekside, LLC, an unaffiliated third party, for $18,875,000, subject to certain prorations and adjustments typical in a real estate transaction. After deduction for payment of the existing mortgage indebtedness encumbering the Creekside property in the approximate amount of $13.5 million and payment of closing costs and fees, excluding disposition fees of approximately $69,946 deferred by the Company's former advisor, the sale of the Creekside property generated net proceeds to the Company of approximately $1.2 million based on its proportionate ownership therein. The Company today also announced its entry into an Underwriting Agreement with Wunderlich Securities, Inc., as representative of the underwriters, on March 28, 2014, in connection with the pricing of its initial public offering, as previously announced by the Company, of 3,448,276 shares of Class A common stock, at a price to the public of $14.50 per share, for a total of approximately $44.4 million of net proceeds after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company. In addition, the Company today announced that on March 26, 2014, its Board of Directors appointed Christopher J. Vohs, age 37, to serve as the Treasurer of the Company, effective as of March 19, 2014. The Company further announced today that on March 26, 2014, the Company amended and restated its charter pursuant the Second Articles of Amendment and Restatement of the Company, as previously authorized and approved by the Company's Board of Directors on December 16, 2013 and approved by the stockholders of the Company at a special meeting of the stockholders held on January 23, 2014. The Company also announced today that on March 26, 2014, the Company further amended its charter to provide for a 2.264881-to-1 reverse stock split of its issued and outstanding Class B common stock, and to decrease the par value of such Class B common stock from $0.02264881 per share to $0.01 per share. In addition, the Company announced that on March 31, 2014, the Company further amended its charter to provide for a 1.0045878-to-1 reverse stock split of its issued and outstanding Class B common stock, and to decrease the par value of such Class B common stock from $0.010045878 per share to $0.01 per share. The Company today also announced that effective March 26, 2014, its Board of Directors adopted a second amendment and restatement to the Bylaws of the Company. In addition, the Company announced today that in conjunction with its review of its corporate governance policies in connection with its initial public offering, effective March 26, 2014, its Board of Directors amended the Company's Code of Ethics originally adopted on January 14, 2009, which will now be referred to as the "Code of Business Conduct and Ethics." The Code of Business Conduct and Ethics describes the standards of conduct for all employees, officers and directors of the Company, and for all employees, members, officers and directors of the Company's manager and of Bluerock Real Estate, L.L.C. who provide services to the Company.The Company also announced today that effective as of March 26, 2014, its Board of Directors adopted and approved the Company's code of conduct for its senior executive and financial officers, which will be referred to as the "Code of Ethics for Senior Executive and Financial Officers". These items were addressed and disclosed by the Company in a Current Report on Form 8-K filed today with the Securities and Exchange Commission. About Bluerock Residential Growth REIT, Inc. Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) is a real estate investment trust formed to acquire a diversified portfolio of institutional-quality apartment properties in demographically attractive growth markets throughout the United States. The Company has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes. Forward Looking Statements This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward looking statements are based upon the Company's present expectations, but these statements are not guaranteed to occur. For example, the pricing of the initial public offering may imply that the offering will close, but the closing is subject to certain conditions customary in transactions of this type and may be delayed or may not occur at all. In addition, the underwriters' option to purchase additional shares may imply that this option will be exercised; however, the underwriters are not under any obligation to exercise this option, or any portion of it, and may not do so. Investors should not place undue reliance upon forward looking statements. For further discussion of the factors that could affect outcomes, please refer to the "Risk Factors" section of the prospectus.
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1546640-000119312516582209-d177489dex991
EX-99.1 4 d177489dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 The ADT Corporation Announces the Closing of the Previously Announced Transaction with Protection 1, an Affiliate of Certain Funds Managed By Affiliates of Apollo Global Management, LLC CHICAGO, NEW YORK and BOCA RATON, Fla., May 2, 2016 - The ADT Corporation (NYSE: ADT) ("ADT"), a leading provider of monitored security, interactive home and business automation and related monitoring services in the United States and Canada, today announced the successful completion of the previously announced transaction with Protection 1, an affiliate of certain funds (the "Apollo Funds") managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, "Apollo") (NYSE: APO). On February 16, 2016, ADT and Prime Security Services Borrower, LLC (with its subsidiaries, "Protection 1"), a leading full-service business and home security company in the United States also owned by the Apollo Funds, announced that ADT and Protection 1 had entered into a merger agreement whereby upon completion of the transaction, ADT stockholders were entitled to receive $42.00 per share in cash in exchange for their shares of ADT common stock, which when combined with Protection 1, represents an aggregate transaction value of approximately $15 billion. As a result of the transactions, ADT's common stock is no longer trading on the New York Stock Exchange, effective today, and will be delisted. As previously announced, the headquarters of the combined company will remain in Boca Raton, FL, and the combined company will operate primarily under the ADT brand. "We are enthusiastic about the combined potential of two of the most respected firms in the industry residing under one brand, ADT", said Timothy J. Whall, CEO of the combined business. "Protection 1 has long been known for its customer service, its ability to grow organically and through key acquisitions and today, we combine those strengths with ADT's brand presence and expertise to form a new ADT in a move that will create the most significant customer offering in the industry in both the residential and commercial sectors, with customers as the ultimate benefactors of this partnership. I look forward to leading this new, powerful brand. Going forward, we will provide market leading products and services, all fueled by innovation and differentiated customer service". "We are pleased that our efforts to build ADT into a business with strong foundations have enabled us to maximize value for our stockholders", said Naren Gursahaney, former President and CEO of ADT. "I thank our talented and dedicated associates for their hard work and contributions that have made ADT a leader in the security and alarm monitoring services business and that have positioned ADT for this favorable outcome, and also thank our customers for their continued loyalty and support". "We are thrilled about the completed acquisition of ADT which will enhance our funds' position in the large and growing electronic security monitoring and home automation sector", said Marc Becker, Senior Partner at Apollo. "We look forward to working alongside the Company's dedicated employees and business partners to drive innovation and support future growth". Goldman, Sachs served as lead financial advisor to ADT and BofA Merrill Lynch also served as financial advisor to ADT. Barclays, Deutsche Bank, Citigroup Global Markets Inc. and RBC Capital Markets, LLC served as financial advisors to Apollo and Protection 1 and provided debt financing. PSP Investments Credit USA LLC also provided debt financing. An affiliate of Koch Equity Development LLC, the investment and acquisition subsidiary of Koch Industries, Inc. ("Koch"), provided $750 million of preferred equity financing. Simpson Thacher & Bartlett LLP served as legal advisor to ADT. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to Protection 1 and Apollo. Milbank, Tweed, Hadley & McCloy LLP served as legal advisor to Koch. About ADT The ADT Corporation is a leading provider of security and automation solutions for homes and businesses in the United States and Canada. ADT's broad and pioneering set of products and services, including ADT Pulse ® interactive home and business solutions, and health services, meet a range of customer needs for today's active and increasingly mobile lifestyles. Headquartered in Boca Raton, Florida, ADT helps provide peace of mind to over 6.5 million customers and employs approximately 17,000 people at 200 locations. More information is available at www.adt.com . About Apollo Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management of approximately $170 billion as of December 31, 2015 in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, visit www.agm.com . About Protection 1 Protection 1 was acquired by Prime Security Services Borrower, LLC in mid-2015 as the flagship for Apollo's entrance into the alarm monitoring services industry, with a simultaneous acquisition of ASG Security, which has been effectively integrated into Protection 1. Protection 1 is a premier full-service business and home security company in the U.S. that provides installation, maintenance, and monitoring of single-family home security systems, business security systems and multi-family security systems. Protection 1 serves over 2 million customers and employs over 4,000 people in more than 90 office locations and five UL Certified monitoring centers across the country. For more information about Protection 1, visit www.P1newsroom.com . Media Contacts For Apollo Global Management: Apollo Global Management, LLC Gary M. Stein, 212-822-0467 Head of Corporate Communications gstein@apollolp.com or Rubenstein Associates, Inc. for Apollo Global Management, LLC Charles Zehren, 212-843-8590 czehren@rubenstein.com For Protection 1: Jennifer Webb, 212-221-1616 Coltrin & Associates Jennifer_webb@coltrin.com For ADT: Jason Shockley, 561-322-7235 Vice President, Corporate Communications jshockley@adt.com
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"common", "stock", ",", "which", "when", "combined", "with", "Protection", "1", ",", "represents", "an", "aggregate", "transaction", "value", "of", "approximately", "$", "15", "billion", ".", "As", "a", "result", "of", "the", "transactions", ",", "ADT", "'s", "common", "stock", "is", "no", "longer", "trading", "on", "the", "New", "York", "Stock", "Exchange", ",", "effective", "today", ",", "and", "will", "be", "delisted", ".", "As", "previously", "announced", ",", "the", "headquarters", "of", "the", "combined", "company", "will", "remain", "in", "Boca", "Raton", ",", "FL", ",", "and", "the", "combined", "company", "will", "operate", "primarily", "under", "the", "ADT", "brand", ".", "\"", "We", "are", "enthusiastic", "about", "the", "combined", "potential", "of", "two", "of", "the", "most", "respected", "firms", "in", "the", "industry", "residing", "under", "one", "brand", ",", "ADT", "\"", ",", "said", "Timothy", "J", ".", "Whall", ",", "CEO", "of", "the", "combined", "business", ".", "\"", "Protection", "1", "has", "long", "been", "known", "for", "its", "customer", "service", ",", "its", "ability", "to", "grow", "organically", "and", "through", "key", "acquisitions", "and", "today", ",", "we", "combine", "those", "strengths", "with", "ADT", "'s", "brand", "presence", "and", "expertise", "to", "form", "a", "new", "ADT", "in", "a", "move", "that", "will", "create", "the", "most", "significant", "customer", "offering", "in", "the", "industry", "in", "both", "the", "residential", "and", "commercial", "sectors", ",", "with", "customers", "as", "the", "ultimate", "benefactors", "of", "this", "partnership", ".", "I", "look", "forward", "to", "leading", "this", "new", ",", "powerful", "brand", ".", "Going", "forward", ",", "we", "will", "provide", "market", "leading", "products", "and", "services", ",", "all", "fueled", "by", "innovation", "and", "differentiated", "customer", "service", "\"", ".", "\"", "We", "are", "pleased", "that", "our", "efforts", "to", "build", "ADT", "into", "a", "business", "with", "strong", "foundations", "have", "enabled", "us", "to", "maximize", "value", "for", "our", "stockholders", "\"", ",", "said", "Naren", "Gursahaney", ",", "former", "President", "and", "CEO", "of", "ADT", ".", "\"", "I", "thank", "our", "talented", "and", "dedicated", "associates", "for", "their", "hard", "work", "and", "contributions", "that", "have", "made", "ADT", "a", "leader", "in", "the", "security", "and", "alarm", "monitoring", "services", "business", "and", "that", "have", "positioned", "ADT", "for", "this", "favorable", "outcome", ",", "and", "also", "thank", "our", "customers", "for", "their", "continued", "loyalty", "and", "support", "\"", ".", "\"", "We", "are", "thrilled", "about", "the", "completed", "acquisition", "of", "ADT", "which", "will", "enhance", "our", "funds", "'", "position", "in", "the", "large", "and", "growing", "electronic", "security", "monitoring", "and", "home", "automation", "sector", "\"", ",", "said", "Marc", "Becker", ",", "Senior", "Partner", "at", "Apollo", ".", "\"", "We", "look", "forward", "to", "working", "alongside", "the", "Company", "'s", "dedicated", "employees", "and", "business", "partners", "to", "drive", "innovation", "and", "support", "future", "growth", "\"", ".", "Goldman", ",", "Sachs", "served", "as", "lead", "financial", "advisor", "to", "ADT", "and", "BofA", "Merrill", "Lynch", "also", "served", "as", "financial", "advisor", "to", "ADT", ".", "Barclays", ",", "Deutsche", "Bank", ",", "Citigroup", "Global", "Markets", "Inc", ".", "and", "RBC", "Capital", "Markets", ",", "LLC", "served", "as", "financial", "advisors", "to", "Apollo", "and", "Protection", "1", "and", "provided", "debt", "financing", ".", "PSP", "Investments", "Credit", "USA", "LLC", "also", "provided", "debt", "financing", ".", "An", "affiliate", "of", "Koch", "Equity", "Development", "LLC", ",", "the", "investment", "and", "acquisition", "subsidiary", "of", "Koch", "Industries", ",", "Inc", ".", "(", "\"", "Koch", "\"", ")", ",", "provided", "$", "750 million", "of", "preferred", "equity", "financing", ".", "Simpson", "Thacher", "&", "Bartlett", "LLP", "served", "as", "legal", "advisor", "to", "ADT", ".", "Paul", ",", "Weiss", ",", "Rifkind", ",", "Wharton", "&", "Garrison", "LLP", "served", "as", "legal", "advisor", "to", "Protection", "1", "and", "Apollo", ".", "Milbank", ",", "Tweed", ",", "Hadley", "&", "McCloy", "LLP", "served", "as", "legal", "advisor", "to", "Koch", ".", "About", "ADT", "The", "ADT", "Corporation", "is", "a", "leading", "provider", "of", "security", "and", "automation", "solutions", "for", "homes", "and", "businesses", "in", "the", "United", "States", "and", "Canada", ".", "ADT", "'s", "broad", "and", "pioneering", "set", "of", "products", "and", "services", ",", "including", "ADT", "Pulse", "®", "interactive", "home", "and", "business", "solutions", ",", "and", "health", "services", ",", "meet", "a", "range", "of", "customer", "needs", "for", "today", "'s", "active", "and", "increasingly", "mobile", "lifestyles", ".", "Headquartered", "in", "Boca", "Raton", ",", "Florida", ",", "ADT", "helps", "provide", "peace", "of", "mind", "to", "over", "6", ".", "5", "million", "customers", "and", "employs", "approximately", "17,000", "people", "at", "200", "locations", ".", "More", "information", "is", "available", "at", "www.adt.com", ".", "About", "Apollo", "Apollo", "is", "a", "leading", "global", "alternative", "investment", "manager", "with", "offices", "in", "New", "York", ",", "Los", "Angeles", ",", "Houston", ",", "Chicago", ",", "Bethesda", ",", "Toronto", ",", "London", ",", "Frankfurt", ",", "Madrid", ",", "Luxembourg", ",", "Mumbai", ",", "Delhi", ",", "Singapore", ",", "Hong", "Kong", "and", "Shanghai", ".", "Apollo", "had", "assets", "under", "management", "of", "approximately", "$", "170 billion", "as", "of", "December", "31", ",", "2015", "in", "private", "equity", ",", "credit", "and", "real", "estate", "funds", "invested", "across", "a", "core", "group", "of", "nine", "industries", "where", "Apollo", "has", "considerable", "knowledge", "and", "resources", ".", "For", "more", "information", "about", "Apollo", ",", "visit", "www.agm.com", ".", "About", "Protection", "1", "Protection", "1", "was", "acquired", "by", "Prime", "Security", "Services", "Borrower", ",", "LLC", "in", "mid", "-", "2015", "as", "the", "flagship", "for", "Apollo", "'s", "entrance", "into", "the", "alarm", "monitoring", "services", "industry", ",", "with", "a", "simultaneous", "acquisition", "of", "ASG", "Security", ",", "which", "has", "been", "effectively", "integrated", "into", "Protection", "1", ".", "Protection", "1", "is", "a", "premier", "full", "-", "service", "business", "and", "home", "security", "company", "in", "the", "U", ".", "S", ".", "that", "provides", "installation", ",", "maintenance", ",", "and", "monitoring", "of", "single", "-", "family", "home", "security", "systems", ",", "business", "security", "systems", "and", "multi", "-", "family", "security", "systems", ".", "Protection", "1", "serves", "over", "2", "million", "customers", "and", "employs", "over", "4,000", "people", "in", "more", "than", "90", "office", "locations", "and", "five", "UL", "Certified", "monitoring", "centers", "across", "the", "country", ".", "For", "more", "information", "about", "Protection", "1", ",", "visit", "www.P1newsroom.com", ".", "Media", "Contacts", "For", "Apollo", "Global", "Management", ":", "Apollo", "Global", "Management", ",", "LLC", "Gary", "M", ".", "Stein", ",", "212", "-", "822", "-", "0467", "Head", "of", "Corporate", "Communications", "gstein@apollolp.com", "or", "Rubenstein", "Associates", ",", "Inc", ".", "for", "Apollo", "Global", "Management", ",", "LLC", "Charles", "Zehren", ",", "212", "-", "843", "-", "8590", "czehren@rubenstein.com", "For", "Protection", "1", ":", "Jennifer", "Webb", ",", "212", "-", "221", "-", "1616", "Coltrin", "&", "Associates", "Jennifer_webb@coltrin.com", "For", "ADT", ":", "Jason", "Shockley", ",", "561", "-", "322", "-", "7235", "Vice", "President", ",", "Corporate", "Communications", "jshockley@adt.com" ]
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1357459-000117184321002819-exh_991
EX-99.1 4 exh_991.htm EXHIBIT 99.1 Exhibit 99.1 Leading BioSciences Closes Merger with Seneca Biopharma and Set to Begin Trading on Nasdaq as PALI The combined company, Palisade Bio, Inc., is expected to commence trading on the Nasdaq Capital Market under the ticker symbol "PALI" on April 28, 2021 Concurrent $20.0 million private placement led by Altium Capital Conference call and live webcast tomorrow at 11:00 AM ET CARLSBAD, Calif., April 27, 2021 - Leading BioSciences, Inc. a late-stage biopharma company advancing therapies for acute and chronic gastrointestinal (GI) complications, today announced the closing of its previously announced merger transaction with Seneca Biopharma, Inc. ("Seneca"). Seneca shareholders previously approved the transaction. The combined, publicly traded company will operate under the name Palisade Bio, Inc. ("Palisade Bio" or the "Company"), and its common stock is expected to commence trading on the Nasdaq Capital Market on April 28, 2021, under the ticker symbol "PALI". In addition, the Company has announced the closing of the previously announced private placement led by Altium Capital that included $20.0 million in cash plus the cancelation of outstanding principal and interest pursuant to the notes previously issued to the investor. "This merger marks a tremendous milestone for all stakeholders in the newly formed Palisade Bio, a now publicly listed company with a promising pipeline of oral therapies for GI complications," said Tom Hallam, Ph.D., chief executive officer of Palisade Bio. "We are thrilled to have the added financial flexibility provided by Seneca and the private placement financing as we advance our drugs through clinical development. Our lead asset, LB1148, has already demonstrated efficacy signals in clinical trials that we believe may support a potential paradigm shift in the restoration of post-operative GI function following a wide range of common surgeries. There are more than six million of these procedures annually in the U.S. Now, as the combined company, Palisade Bio, we plan to build on this momentum with multiple clinical data readouts planned over the next 12 to 18 months". Leading BioSciences Inc.'s management team will lead the merged company, Palisade Bio, following completion of the merger transaction. Palisade Bio will focus on developing therapeutics for broad GI disorders and complications. The Company's lead asset, LB1148, is a patent-protected oral formulation of a protease inhibitor that neutralizes the activity of digestive proteases released from the gut during surgery. LB1148 has demonstrated the potential to improve restoration of normal GI function following major surgery and reduce certain postoperative complications such as abdominal adhesions. The FDA has granted LB1148 Fast Track Designation for treating postoperative GI dysfunction in pediatric patients who undergo open-heart surgery based on its potential to treat this serious condition, positioning LB1148 for potential accelerated approval and priority review. Palisade expects to initiate a Phase 2/3 study of LB1148 for the treatment of postoperative GI dysfunction associated with pediatric cardiovascular surgery and report Phase 2 data read-outs in GI surgery by year-end 2021. Conference Call and Webcast Details: Management will host a conference call and webcast with slides at 11:00 AM Eastern Time on Wednesday, April 28, 2021, for investors regarding this announcement with details as follows: Dial in (domestic): 877-407-9208 International: 201-493-6784 Conference ID: 13719417 Webcast: http://public.viavid.com/index.php?id=144763 The archived webcast will be available on the Investors section of the Palisade Bio website. About LB1148 LB1148 is an oral formulation of a broad-spectrum serine protease inhibitor designed to neutralize the activity of potent digestive proteases released from the gut during surgery. Evidence suggests that the release of digestive proteases contributes to the temporary loss of normal gastrointestinal function and formation of postoperative adhesions. By inhibiting the activity of these digestive proteases, LB1148 has the potential to prevent damage to GI tissues, accelerate the time to return of normal GI function, and shorten the duration of costly post-surgery hospital stays. About Palisade Bio, Inc. Palisade Bio is a late-stage biopharma company advancing therapies that help patients with acute and chronic gastrointestinal complications stemming from post-operative digestive enzyme damage. Palisade Bio's innovative lead asset, LB1148, is a Phase 3-ready protease inhibitor with the potential to both reduce abdominal adhesions and help restore bowel function following surgery. Positive data from Phase 2 trials of LB1148 demonstrated safety and tolerability as well as a statistically significant improvement in return to bowel function and decrease in length of stay in ICU and hospital compared to placebo. Palisade Bio believes that its investigational therapies have the potential to address the myriad health conditions and complications associated with chronic disruption of the gastrointestinal epithelial barrier. For more information, please go to www.palisadebio.com Advisors to the Transaction Solebury Trout LLC acted as financial advisor to Seneca for the transaction and Silvestre Law Group, P.C. served as legal counsel to Seneca. Evolution Venture Partners acted as financial advisor to Leading BioSciences, and Cooley LLP served as legal counsel to Leading BioSciences. Forward Looking Statements This communication contains "forward-looking" statements, including, without limitation, statements related to the anticipated benefits of the transactions contemplated by the merger and the private placement financing and the related transactions, the anticipated trading of the combined company's stock on the Nasdaq Capital Market, and statements related to Palisade's development programs. Any statements contained in this communication that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements are based upon Palisade's current expectations. Forward-looking statements involve risks and uncertainties. Palisade's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, related to the Company's ability to advance its preclinical programs and the uncertain and time-consuming regulatory approval process. Additional risks and uncertainties can be found in Seneca's Registration Statement on Form S-4 initially filed with the SEC on December 23, 2020, as amended. Palisade expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Palisade's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. Palisade Bio Media Relations Contact: Darren Opland, Ph.D. LifeSci Communications darren@lifescicomms.com Palisade Bio Investor Relations Contact: Corey Davis, Ph.D. LifeSci Advisors cdavis@lifesciadvisors.com Corporate Contact: Justin Stege, Ph.D. justin.stege@palisadebio.com
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1444363-000095010315002601-dp54905_ex9901
EX-99.1 2 dp54905_ex9901.htm EXHIBIT 99.1 Exhibit 99.1 GAIN Capital completes acquisition of City Index BEDMINSTER, N.J., April 1, 2015 /PRNewswire/ -- GAIN Capital Holdings, Inc. (NYSE: GCAP) (the "Company" or "GAIN Capital") today announced it has completed the acquisition of City Index (Holdings) Limited ("City Index"), a leading online trading firm specializing in contracts for difference (CFDs), forex and UK spread betting. The combination of GAIN Capital and City Index creates a global leader in online trading, operating two market-leading brands in GAIN's FOREX.com, a top retail forex brand globally, and City Index, a premier CFD and spread bet brand. The combined company will have over $1.1 billion in customer assets with annual trading volumes of more than $3 trillion. "The closing of this transaction marks another major milestone in the growth of GAIN Capital and we are excited by the complementary strengths that have been brought together through this combination", commented Glenn Stevens, CEO of GAIN Capital. "The scale, scope of products and geographies served and market leading technology provided by the combined company provides us with an excellent platform for continued growth and success", Mr. Stevens concluded. The aggregate purchase price was approximately US$148 million, consisting of approximately US$36 million in cash (which reflects approximately US$21 million of excess regulatory capital at City Index), 5,319,149 shares of Company common stock and US$60 million in convertible loan notes issued by the Company. The net purchase price paid was approximately US$77 million, reflecting US$71 million of cash on City Index's balance sheet as of the closing date. About GAIN Capital GAIN Capital Holdings, Inc. (NYSE: GCAP) is a global provider of online trading services. GAIN Capital's innovative trading technology provides market access and highly automated trade execution services across multiple asset classes to a diverse client base of retail and institutional investors. GAIN Capital is headquartered in Bedminster, New Jersey, with a global presence across North America, Europe and the Asia Pacific regions. For further company information, visit www.gaincapital.com .
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1800-000110465910007120-a10-3480_1ex99d1
EX-99.1 3 a10-3480_1ex99d1.htm EX-99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE Abbott Completes Acquisition of Solvay Pharmaceuticals ABBOTT PARK, Ill., Feb. 16, 2010 - Abbott today announced that it has completed its EUR 4.5 billion ($6.2 billion) acquisition of Belgium-based Solvay Pharmaceuticals, providing Abbott with a large and complementary portfolio of pharmaceutical products and expanding Abbott's presence in key global emerging markets. Media: Melissa Brotz 847-935-3456 Based on the timing of the close, Abbott expects the acquisition to add approximately $2.9 billion to Abbott's 2010 total reported sales, the majority outside the U.S., and add approximately $500 million to Abbott's annual pharmaceutical R&D investment. Tracy Sorrentino 847-937-8712 Financial: John Thomas 847-938-2655 "The acquisition of Solvay Pharmaceuticals is a key part of Abbott's strategy to bolster our presence in key markets and deliver sustainable, industry-leading growth", said Miles D. White, chairman and chief executive officer, Abbott. "In addition to taking both Abbott and Solvay products into new and expanding markets, the acquisition enhances our R&D investment, providing Abbott with the opportunity to drive future pharmaceutical growth". Larry Peepo 847-935-6722 Abbott has a strong portfolio of specialty pharmaceuticals and Solvay brings successful, consistently performing products - including branded generics - that will further diversify Abbott's pharmaceutical business and provide significant growth opportunities. These products complement Abbott's presence and expertise in specialty markets such as cardiovascular disease, neuroscience and gastroenterology, and include treatments for men's and women's hormonal health, and exocrine pancreatic insufficiency (inability to properly digest food), which is associated with several underlying conditions including cystic fibrosis and chronic pancreatitis. - more - Page 2 "The combination of Solvay and Abbott's pharmaceutical businesses will enable Abbott to attain leadership in key emerging markets, where there is significant opportunity for branded generics," said Olivier Bohuon, executive vice president, Pharmaceutical Products Group, Abbott. "The addition of Solvay Pharmaceuticals is the catalyst for Abbott's growth and leadership in this area, and will ensure Abbott has the infrastructure, reach and product offerings to continue meeting the needs of patients around the world". Solvay Pharmaceuticals is now part of Abbott's global Pharmaceutical Products Group. Werner Cautreels, chief executive officer of Solvay Pharmaceuticals, will serve in a transitional role and will then leave the company. The impact of the Solvay Pharmaceuticals acquisition has been reflected in Abbott's previously issued earnings-per-share guidance for the first-quarter and full-year 2010. As previously disclosed, the transaction also includes payments of up to EUR 300 million if certain sales milestones are met between 2011 and 2013. About Abbott Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs approximately 83,000 people and markets its products in more than 130 countries. Abbott's news releases and other information are available on the company's website at www.abbott.com. Abbott Forward Looking Statement Some statements in this news release may be forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. Abbott cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Economic, competitive, governmental, technological and other factors that may affect Abbott's operations are discussed in Item 1A, "Risk Factors", to our Annual Report on Securities and Exchange Commission Form 10-K for the year ended Dec. 31, 2008, and are incorporated by reference. Abbott undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments. # # #
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913277-000114420414045177-v384604_ex99-1
EX-99.1 2 v384604_ex99-1.htm EX-99.1 Black Diamond Completes Sale of Gregory Mountain Products for $84.1 Million - Divestiture Solidifies Strategic Pivot to Focus on Core and Fastest-Growing Brands - SALT LAKE CITY, Utah - July 23, 2014 - Black Diamond, Inc. (NASDAQ: BDE) (the "Company" or "Black Diamond"), a leading global supplier of innovative active outdoor performance equipment and apparel, has completed the asset sale of its Gregory Mountain Products, LLC ("Gregory") brand for $84.1 million to Samsonite LLC. The divestiture represents an integral part of Black Diamond's plan to focus on its core brands, including POC and Black Diamond apparel. Black Diamond has used a portion of the proceeds from the sale to pay down its debt with Zions Bank and plans to reinvest the remainder to support the continued growth and long-term development of its core brands. "Closing the sale of Gregory marks a critical point in our strategic pivot initiated last fall", said Peter Metcalf, president and CEO of Black Diamond. "We believe that we are now positioned for enhanced growth from our core and fastest-growing brands". The Company has realized net proceeds of approximately $68.4 million after fees, expenses and taxes. The Company previously had approximately $26.7 million of outstanding debt under its credit facility with Zions Bank as of March 31, 2014, which was paid-off in full with the closing of the transaction. The Company plans to provide revised second half and full year guidance when it reports its second quarter results in August 2014. Rothschild served as financial advisors and Kane Kessler, P.C. served as legal advisors to Black Diamond for the divestiture. About Black Diamond, Inc. Black Diamond, Inc. is a global leader in designing, manufacturing and marketing innovative active outdoor performance equipment and apparel for climbing, mountaineering, backpacking, skiing, cycling and a wide range of other year-round outdoor recreation activities. The Company's principal brands, Black Diamond®, POC™ and PIEPS™, are iconic in the active outdoor, ski and cycling industries and linked intrinsically with the modern history of these sports. Black Diamond is synonymous with performance, innovation, durability and safety that the outdoor and action sport communities rely on and embrace in their active lifestyle. Headquartered in Salt Lake City at the base of the Wasatch Mountains, the Company's products are created and tested on some of the best alpine peaks, slopes, crags, roads and trails in the world. These close connections to the Black Diamond lifestyle enhance the authenticity of the Company's brands, inspire product innovation and strengthen customer loyalty. Black Diamond's products are sold in approximately 50 countries around the world. For additional information, please visit the Company's websites at www.blackdiamond-inc.com, www.blackdiamondequipment.com , www.pocsports.com or www.pieps.com . Page 1 of 2 Forward-Looking Statements Please note that in this press release we may use words such as "appears", "anticipates", "believes", "plans", "expects", "intends," "future", and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to, the overall level of consumer spending on our products; general economic conditions and other factors affecting consumer confidence; disruption and volatility in the global capital and credit markets; the financial strength of the Company's customers; the Company's ability to implement its growth strategy, including its ability to organically grow each of its historical product lines, its new apparel line and its recently acquired businesses; the Company's ability to successfully integrate and grow acquisitions; the Company's exposure to product liability or product warranty claims and other loss contingencies; stability of the Company's manufacturing facilities and foreign suppliers; the Company's ability to protect trademarks and other intellectual property rights; fluctuations in the price, availability and quality of raw materials and contracted products; foreign currency fluctuations; our ability to utilize our net operating loss carryforwards; and legal, regulatory, political and economic risks in international markets. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release, and speak only as of the date hereof. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release. Company Contact: Warren B. Kanders Executive Chairman Tel 203-428-2000 warren.kanders@bdel.com or Peter Metcalf Chief Executive Officer Tel 801-278-5552 peter.metcalf@bdel.com Investor Relations: Liolios Group, Inc. Scott Liolios or Cody Slach Tel 949-574-3860 BDE@liolios.com Page 2 of 2
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"after", "fees", ",", "expenses", "and", "taxes", ".", "The", "Company", "previously", "had", "approximately", "$", "26.7 million", "of", "outstanding", "debt", "under", "its", "credit", "facility", "with", "Zions", "Bank", "as", "of", "March", "31", ",", "2014", ",", "which", "was", "paid", "-", "off", "in", "full", "with", "the", "closing", "of", "the", "transaction", ".", "The", "Company", "plans", "to", "provide", "revised", "second", "half", "and", "full", "year", "guidance", "when", "it", "reports", "its", "second", "quarter", "results", "in", "August", "2014", ".", "Rothschild", "served", "as", "financial", "advisors", "and", "Kane", "Kessler", ",", "P", ".", "C", ".", "served", "as", "legal", "advisors", "to", "Black", "Diamond", "for", "the", "divestiture", ".", "About", "Black", "Diamond", ",", "Inc", ".", "Black", "Diamond", ",", "Inc", ".", "is", "a", "global", "leader", "in", "designing", ",", "manufacturing", "and", "marketing", "innovative", "active", "outdoor", "performance", "equipment", "and", "apparel", "for", "climbing", ",", "mountaineering", ",", "backpacking", ",", "skiing", ",", "cycling", "and", "a", "wide", "range", "of", "other", "year", "-", "round", "outdoor", "recreation", "activities", ".", "The", "Company", "'s", "principal", "brands", ",", "Black", "Diamond", "®", ",", "POC", "™", "and", "PIEPS", "™", ",", "are", "iconic", "in", "the", "active", "outdoor", ",", "ski", "and", "cycling", "industries", "and", "linked", "intrinsically", "with", "the", "modern", "history", "of", "these", "sports", ".", "Black", "Diamond", "is", "synonymous", "with", "performance", ",", "innovation", ",", "durability", "and", "safety", "that", "the", "outdoor", "and", "action", "sport", "communities", "rely", "on", "and", "embrace", "in", "their", "active", "lifestyle", ".", "Headquartered", "in", "Salt", "Lake", "City", "at", "the", "base", "of", "the", "Wasatch", "Mountains", ",", "the", "Company", "'s", "products", "are", "created", "and", 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1431959-000119312521203407-d189140dex992
EX-99.2 6 d189140dex992.htm EX-99.2 EX-99.2 Exhibit 99.2 META ® Closes Transaction and Commences Trading on NASDAQ HALIFAX, NS / ACCESSWIRE / June 28, 2021 / Meta Materials Inc. (the "Company" or "META ® ") (NASDAQ: MMAT) a developer of high-performance functional materials and nanocomposites, today announced closing of the business combination with Torchlight Energy Resources ("Torchlight"), which was effective at 12:01 AM EDT. Please visit the investors section of our website to view the Shareholder Letter for more details about our technology, markets, and applications. "After ten years of scientific discovery and application development, META is now the first NASDAQ-listed metamaterials company, joining the world's premier exchange for technology companies", noted George Palikaras, META's founding President and CEO. "We are very excited to showcase how metamaterials "go beyond" conventional materials and chemistry, to offer new and highly sustainable solutions with semiconductor precision, at kilometer scale". "As a result of the transaction and our recent ATM offerings, META now has over $160 million in cash and a virtually debt free balance sheet with approximately 285 million shares issued and outstanding after the 2 to 1 reverse split. From here, we believe we can now comfortably support our near and long-term growth initiatives", said Ken Rice, CFO and EVP of META. Upon closing, the following operational changes were effected. The executives of the combined company, Meta Materials Inc., include George Palikaras, President and CEO, and Ken Rice, Chief Financial Officer and Executive Vice President. Torchlight's CEO, John Brda, will remain as an advisor to manage the disposal of the Company's oil and gas assets. The board of directors was expanded to seven members, including Ram Ramkumar, Chairman, George Palikaras, Allison Christilaw, Maurice Guitton, Ken Hannah, Steen Karsbo, and Eric Leslie. The corporate headquarters are located at the META facility in Nova Scotia, Canada. The Company has additional facilities in Pleasanton, CA, London, UK, and Zürich, Switzerland. In connection with the transaction, Roth Capital Partners acted as financial advisor for Torchlight and Stikeman Elliott LLP, K&L Gates LLP, and Axelrod & Smith as legal advisors; Meta Materials engaged Hamilton Clark and Cormark Securities as financial advisors and Fasken Martineau DuMoulin LLP and Wilson Sonsini Goodrich & Rosati P.C. as legal advisors. META management will hold a webcast on Tuesday, July 6th, at 1PM EDT, to discuss recent events and future growth initiatives of Meta Materials Inc. To register click here . About Meta Materials Inc. META ® delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. Our achievements have been widely recognized, including being named a Global Cleantech 100 company. Learn more at www.metamaterial.com . Forward Looking Information This press release includes forward-looking information or statements within the meaning of Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, regarding the Company and its business, which may include, but are not limited to, statements with respect to the business strategies and execution with the current cash on the Company's balance sheet, product development and operational activities of the Company. Often but not always, forward-looking information can be identified by the use of words such as "potential", "predicts", "projects", "seeks", "plans", "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", "should", "would" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of the Company and are based on assumptions and subject to risks and uncertainties. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including risks related to the management and potential divestiture of the assets in the Company's oil and gas business, the potential benefits of the Company being publicly listed on the Nasdaq Capital Market, the potential benefits of the transaction with Torchlight Energy Resources Inc. to the Company's stockholders, the research and development projects of the Company, the market potential of the Company's products, the investment priorities and manufacturing plans of the Company, the scalability of the Company's production ability, the technology industry, market strategic and operational activities, and management's ability to manage and operate the business. More details about these and other risks that may impact the Company's businesses are described under the heading "Risk Factors" in the Company's Form 10-Q filed with the SEC on May 14, 2021, in the Company's Form 10-K filed with the SEC on March 18, 2021, and in subsequent filings made by Meta Materials with the SEC, which are available on SEC's website at www.sec.gov. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by law. Contact Mark Komonoski Senior Vice President Integrous Communications Phone: 1-877-255-8483 Email: ir@metamaterial.com Media inquiries: media@metamaterial.com Page | 2
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"achievements", "have", "been", "widely", "recognized", ",", "including", "being", "named", "a", "Global", "Cleantech", "100", "company", ".", "Learn", "more", "at", "www.metamaterial.com", ".", "Forward", "Looking", "Information", "This", "press", "release", "includes", "forward", "-", "looking", "information", "or", "statements", "within", "the", "meaning", "of", "Canadian", "securities", "laws", "and", "within", "the", "meaning", "of", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", ",", "as", "amended", ",", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", ",", "and", "the", "Private", "Securities", "Litigation", "Reform", "Act", "of", "1995", ",", "regarding", "the", "Company", "and", "its", "business", ",", "which", "may", "include", ",", "but", "are", "not", "limited", "to", ",", "statements", "with", "respect", "to", "the", "business", "strategies", "and", "execution", "with", "the", "current", "cash", "on", "the", "Company", "'s", "balance", "sheet", ",", "product", "development", "and", "operational", "activities", "of", "the", "Company", ".", "Often", "but", "not", "always", ",", "forward", "-", "looking", "information", "can", "be", "identified", "by", "the", "use", "of", "words", "such", "as", "\"", "potential", "\"", ",", "\"", "predicts", "\"", ",", "\"", "projects", "\"", ",", "\"", "seeks", "\"", ",", "\"", "plans", "\"", ",", "\"", "expect", "\"", ",", "\"", "intends", "\"", ",", "\"", "anticipated", "\"", ",", "\"", "believes", "\"", "or", "variations", "(", "including", "negative", "variations", ")", "of", "such", "words", "and", "phrases", ",", "or", "statements", "that", "certain", "actions", ",", "events", "or", "results", "\"", "may", "\"", ",", "\"", "could", "\"", ",", "\"", "should", "\"", ",", "\"", "would", "\"", "or", "\"", "will", "\"", "be", "taken", ",", "occur", "or", "be", "achieved", ".", "Such", "statements", "are", "based", "on", "the", "current", "expectations", "and", "views", "of", "future", "events", "of", "the", "management", "of", "the", "Company", "and", "are", "based", "on", "assumptions", "and", "subject", "to", "risks", "and", "uncertainties", ".", "Although", "the", "management", "of", "the", "Company", "believes", "that", "the", "assumptions", "underlying", "these", "statements", "are", "reasonable", ",", "they", "may", "prove", "to", "be", "incorrect", ".", "The", "forward", "-", "looking", "events", "and", "circumstances", "discussed", "in", "this", "release", "may", "not", "occur", "and", "could", "differ", "materially", "as", "a", "result", "of", "known", "and", "unknown", "risk", "factors", "and", "uncertainties", "affecting", "the", "Company", ",", "including", "risks", "related", "to", "the", "management", "and", "potential", "divestiture", "of", "the", "assets", "in", "the", "Company", "'s", "oil", "and", "gas", "business", ",", "the", "potential", "benefits", "of", "the", "Company", "being", "publicly", "listed", "on", "the", "Nasdaq", "Capital", "Market", ",", "the", "potential", "benefits", "of", "the", "transaction", "with", "Torchlight", "Energy", "Resources", "Inc", ".", "to", "the", "Company", "'s", "stockholders", ",", "the", "research", "and", "development", "projects", "of", "the", "Company", ",", "the", "market", "potential", "of", "the", "Company", "'s", "products", ",", "the", "investment", "priorities", "and", "manufacturing", "plans", "of", "the", "Company", ",", "the", "scalability", "of", "the", "Company", "'s", "production", "ability", ",", "the", "technology", "industry", ",", "market", "strategic", "and", "operational", "activities", ",", "and", "management", "'s", "ability", "to", "manage", "and", "operate", "the", "business", ".", "More", "details", "about", "these", "and", "other", "risks", "that", "may", "impact", "the", "Company", "'s", "businesses", "are", "described", "under", "the", "heading", "\"", "Risk", "Factors", "\"", "in", "the", "Company", "'s", "Form", "10", "-", "Q", "filed", "with", "the", "SEC", "on", "May", "14", ",", "2021", ",", "in", "the", "Company", "'s", "Form", "10", "-", "K", "filed", "with", "the", "SEC", "on", "March", "18", ",", "2021", ",", "and", "in", "subsequent", "filings", "made", "by", "Meta", "Materials", "with", "the", "SEC", ",", "which", "are", "available", "on", "SEC", "'s", "website", "at", "www.sec.gov", ".", "Although", "the", "Company", "has", "attempted", "to", "identify", "important", "factors", "that", "could", "cause", "actual", "actions", ",", "events", "or", "results", "to", "differ", "materially", "from", "those", "described", "in", "forward", "-", "looking", "statements", ",", "there", "may", "be", "other", "factors", "that", "cause", "actions", ",", "events", "or", "results", "to", "differ", "from", "those", "anticipated", ",", "estimated", "or", "intended", ".", "Accordingly", ",", "readers", "should", "not", "place", "undue", "reliance", "on", "any", "forward", "-", "looking", "statements", "or", "information", ".", "No", "forward", "-", "looking", "statement", "can", "be", "guaranteed", ".", "Except", "as", "required", "by", "applicable", "securities", "laws", ",", "forward", "-", "looking", "statements", "speak", "only", "as", "of", "the", "date", "on", "which", "they", "are", "made", "and", "the", "Company", "does", "not", "undertake", "any", "obligation", "to", "publicly", "update", "or", "revise", "any", "forward", "looking", "statement", ",", "whether", "as", "a", "result", "of", "new", "information", ",", "future", "events", ",", "or", "otherwise", ",", "except", "to", "the", "extent", "required", "by", "law", ".", "Contact", "Mark", "Komonoski", "Senior", "Vice", "President", "Integrous", "Communications", "Phone", ":", "1", "-", "877", "-", "255", "-", "8483", "Email", ":", "ir@metamaterial.com", "Media", "inquiries", ":", "media@metamaterial.com", "Page", "|", "2" ]
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1397183-000114420411026326-v220995_ex99-1
EX-99.1 3 v220995_ex99-1.htm Unassociated Document For Immediate Release May, 5 2011 Iveda Solutions Completes MEGAsys Taiwan Acquisition Mesa, AZ (May 5, 2011) - Iveda Solutions (OTCBB:IVDA) announced today that the Taiwan Foreign Investment Committee Agency approved the company's acquisition of Sole-Vision Technologies, doing business as MEGAsys Taiwan. "This is a very important milestone for Iveda Solutions, officially marking our entry into the Asian market", says David Ly, President and CEO of Iveda Solutions. MEGAsys is a Taiwanese company specializing in deploying video surveillance systems for airports, commercial buildings, government customers, data centers, shopping centers, hotels, banks, and Safe City initiatives in Taiwan and other neighboring countries. Iveda Solutions provides enterprise-class cloud-based video surveillance to commercial and government entities in the US and Mexico. The union of the two companies is a win-win strategy. MEGAsys now has Iveda Solutions' expertise in cloud-based video surveillance and access to the US markets for its products, while Iveda Solutions gains access not only to Asian markets, but Asian manufacturers, engineering expertise, and other suppliers. "Over the last few months, we have been working with Iveda Solutions' management team on the acquisition and have initiated some joint projects with them. The experience has been great and we are confident that our decision to merge with Iveda Solutions will prove to be very rewarding for both companies", says I.H. Shiau, President of MEGAsys. MEGAsys becomes a wholly-owned subsidiary of Iveda Solutions and will retain its existing management team and employees. The company will continue to operate independently on the day-to-day basis, but will adhere to Iveda Solutions' policies and overall company goals. "In the next few months, we will concentrate on integrating MEGAsys' accounting system, learning their operations, while identifying new business opportunities and leveraging each other's strengths", says Ly. About Iveda Solutions Iveda Solutions, Inc. - (OTCBB:IVDA) is the premier online surveillance technology innovator and Managed Video Services provider. Based in Mesa, AZ and incorporated in 2005, the company develops and markets enterprise-class video hosting and real-time remote surveillance services. Iveda Solutions has a SAFETY Act Designation by the Department of Homeland Security as a Qualified Anti-Terrorism Technology provider. For more information call 800-385-8618 or visit www.ivedasolutions.com. About MEGAsys Taiwan Sole-Vision Technology, doing business as MEGAsys Taiwan, was founded in 1998 by a group of sales and R&D professionals from Taiwan Panasonic Company. The company designs and integrates electronic security and surveillance products, software, and services. For more information visit http://www.tdi-megasys.com/english/ This news release contains forward-looking statements. Actual results could vary materially from those expected due to a variety of risk factors. The Company's business is subject to significant risks and uncertainties discussed more thoroughly in Iveda Solutions' SEC filings, including but not limited to, its report on Form 10-K for the year ended December 31, 2010 and its subsequently filed quarterly reports on Form 10-Q. All forward-looking statements made herein are qualified by such risk factors and readers are advised to read such factors carefully. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Contact: Iveda Solutions Phone: 480 307-8700 Fax: 480 248-3237 www.ivedasolutions.com Luz A. Berg Public Relations lberg@ivedasolutions.com Steve Wollach Investor Relations swollach@ivedasolutions.com
[ "EX", "-", "99", ".", "1", "3", "v220995", "_", "ex99", "-", "1", ".", "htm", "Un", "associated", "Document", "For", "Immediate", "Release", "May", ",", "5", "2011", "Iveda", "Solutions", "Completes", "MEGAsys", "Taiwan", "Acquisition", "Mesa", ",", "AZ", "(", "May", "5", ",", "2011", ")", "-", "Iveda", "Solutions", "(", "OTCBB", ":", "IVDA", ")", "announced", "today", "that", "the", "Taiwan", "Foreign", "Investment", "Committee", "Agency", "approved", "the", "company", "'s", "acquisition", "of", "Sole", "-", "Vision", "Technologies", ",", "doing", "business", "as", "MEGAsys", "Taiwan", ".", "\"", "This", "is", "a", "very", "important", "milestone", "for", "Iveda", "Solutions", ",", "officially", "marking", "our", "entry", "into", "the", "Asian", "market", "\"", ",", "says", "David", "Ly", ",", "President", "and", "CEO", "of", "Iveda", "Solutions", ".", "MEGAsys", "is", "a", "Taiwanese", "company", "specializing", "in", "deploying", "video", "surveillance", "systems", "for", 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"months", ",", "we", "have", "been", "working", "with", "Iveda", "Solutions", "'", "management", "team", "on", "the", "acquisition", "and", "have", "initiated", "some", "joint", "projects", "with", "them", ".", "The", "experience", "has", "been", "great", "and", "we", "are", "confident", "that", "our", "decision", "to", "merge", "with", "Iveda", "Solutions", "will", "prove", "to", "be", "very", "rewarding", "for", "both", "companies", "\"", ",", "says", "I", ".", "H", ".", "Shiau", ",", "President", "of", "MEGAsys", ".", "MEGAsys", "becomes", "a", "wholly", "-", "owned", "subsidiary", "of", "Iveda", "Solutions", "and", "will", "retain", "its", "existing", "management", "team", "and", "employees", ".", "The", "company", "will", "continue", "to", "operate", "independently", "on", "the", "day", "-", "to", "-", "day", "basis", ",", "but", "will", "adhere", "to", "Iveda", "Solutions", "'", "policies", "and", "overall", "company", "goals", ".", "\"", "In", "the", "next", "few", "months", ",", "we", "will", "concentrate", "on", "integrating", "MEGAsys", "'", "accounting", "system", ",", "learning", "their", "operations", ",", "while", "identifying", "new", "business", "opportunities", "and", "leveraging", "each", "other", "'", "s", "strengths", "\"", ",", "says", "Ly", ".", "About", "Iveda", "Solutions", "Iveda", "Solutions", ",", "Inc", ".", "-", "(", "OTCBB", ":", "IVDA", ")", "is", "the", "premier", "online", "surveillance", "technology", "innovator", "and", "Managed", "Video", "Services", "provider", ".", "Based", "in", "Mesa", ",", "AZ", "and", "incorporated", "in", "2005", ",", "the", "company", "develops", "and", "markets", "enterprise", "-", "class", "video", "hosting", "and", "real", "-", "time", "remote", "surveillance", "services", ".", "Iveda", "Solutions", "has", "a", "SAFETY", "Act", "Designation", "by", "the", "Department", "of", "Homeland", "Security", "as", "a", "Qualified", "Anti", "-", "Terrorism", "Technology", "provider", ".", "For", "more", "information", "call", "800", "-", "385", "-", "8618", "or", "visit", "www.ivedasolutions.com", ".", "About", "MEGAsys", "Taiwan", "Sole", "-", "Vision", "Technology", ",", "doing", "business", "as", "MEGAsys", "Taiwan", ",", "was", "founded", "in", "1998", "by", "a", "group", "of", "sales", "and", "R", "&", "D", "professionals", "from", "Taiwan", "Panasonic", "Company", ".", "The", "company", "designs", "and", "integrates", "electronic", "security", "and", "surveillance", "products", ",", "software", ",", "and", "services", ".", "For", "more", "information", "visit", "http://www.tdi-megasys.com/english/", "This", "news", "release", "contains", "forward", "-", "looking", "statements", ".", "Actual", "results", "could", "vary", "materially", "from", "those", "expected", "due", "to", "a", "variety", "of", "risk", "factors", ".", "The", "Company", "'s", "business", "is", "subject", "to", "significant", "risks", "and", "uncertainties", "discussed", "more", "thoroughly", "in", "Iveda", "Solutions", "'", "SEC", "filings", ",", "including", "but", "not", "limited", "to", ",", "its", "report", "on", "Form", "10", "-", "K", "for", "the", "year", "ended", "December", "31", ",", "2010", "and", "its", "subsequently", "filed", "quarterly", "reports", "on", "Form", "10", "-", "Q", ".", "All", "forward", "-", "looking", "statements", "made", "herein", "are", "qualified", "by", "such", "risk", "factors", "and", "readers", "are", "advised", "to", "read", "such", "factors", "carefully", ".", "The", "Company", "undertakes", "no", "obligation", "to", "publicly", "release", "the", "result", "of", "any", "revisions", "to", "these", "forward", "-", "looking", "statements", ",", "which", "may", "be", "made", "to", "reflect", "events", "or", "circumstances", "after", "the", "date", "hereof", "or", "to", "reflect", "the", "occurrence", "of", "unanticipated", "events", ".", "Contact", ":", "Iveda", "Solutions", "Phone", ":", "480", "307", "-", "8700", "Fax", ":", "480", "248", "-", "3237", "www.ivedasolutions.com", "Luz", "A.", "Berg", "Public", "Relations", "lberg@ivedasolutions.com", "Steve", "Wollach", "Investor", "Relations", "swollach@ivedasolutions.com" ]
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1128353-000094583606000044-ex991-form8k071306
EX-99.1 3 ex991-form8k071306.txt EX-99.1 EX-99.1 ENERTECK CORPORATION 10701 Corporate Drive Suite 150, Stafford, Texas 77477 Press Release Contact: Dwaine Reese Chief Executive Officer (281)240-1787 ENERTECK CORPORATION ANNOUNCES THE COMPLETION OF ITS ACQUSITION OF THE ENERBURN TECHNOLOGY AND ASSETS Stafford, Texas, July 19, 2006. EnerTeck Corporation (OTC Bulletin Board: ETCK) (the "Company") today announced the closing of the previously announced acquisition of the EnerBurn technology and associated assets from the owner of Ruby Cat Technology, LLC. As a result of this acquisition, EnerTeck has completed the transformation from a sales organization to a fully integrated manufacturer and distributor of EnerBurn, the company's flagship diesel fuel additive. The closing of this acquisition provides EnerTeck with the proprietary technology to manufacture EnerBurn. Dwaine Reese, CEO of the Company, commented "This transaction has closed at an extremely opportune time in the life-cycle of EnerTeck. With new customer orders and reorders for EnerBurn accelerating, we are delighted to offer even more benefits to our customers by supplying top quality product without sacrificing service." Mr. Reese further commented "The margin on in-house produced product is significantly higher than that on externally manufactured product, thus we firmly believe we will see enhanced profitability going forward. The company continues to benefit from increasing domestic demand and has increased its capacity with this acquisition. In addition, we have received numerous inquiries from international sources and our next phase of growth should capitalize on converting that interest to firm orders". Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words "anticipate", "believe", "estimate", "plan", "intend" and "expect" and similar expressions, as they relate to EnerTeck Corporation, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, such factors discussed in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005. Except as required by the Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward- looking statements to reflect events or circumstances after the date hereof or for any other reason.
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14707-000001470713000025-bws8k0520133x99_1
EX-99.1 3 bws8k0520133x99_1.htm EXHIBIT 99.1 bws8k0520133x99_1.htm Exhibit 99.1 News Contact: Investors: Peggy Reilly Tharp (314) 854-4134, ptharp@brownshoe.com Media: Kelly Malone (314) 854-4093, kmalone@brownshoe.com Brown Shoe Company Announces Sale of Avia and Nevados Company Retaining Ryka ST. LOUIS, May 14, 2013 - Brown Shoe Company, Inc. (NYSE: BWS, brownshoe.com) today announced it has sold Avia and Nevados for $74 million, with the transaction closing immediately. Galaxy Brand Holdings, Inc. acquired the Avia and Nevados brands, while Brown Shoe Company is retaining Ryka, and other brands, and plans to use the proceeds from the sale to pay down debt. Brown Shoe Company acquired Avia and Nevados as part of its American Sporting Goods (ASG) acquisition completed in February 2011 for $145 million and assumed debt. In October of 2011, the company sold the AND 1 brand, which was also part of the ASG acquisition, for $55 million. "Although we were not actively marketing Avia for sale, it's a great brand with a strong heritage that appealed to Galaxy Brand Holdings. As a result, they made an offer which we believe is in the best interest of our shareholders to accept", said Diane Sullivan, president and chief executive officer of Brown Shoe Company. "We're excited about continuing to expand and strengthen the Ryka brand, which is the most integral and relevant part of the ASG acquisition for Brown Shoe Company". "We are excited by the tremendous potential in both Avia and Nevados, and look forward to building on their foundations in the athletic and outdoor space", said Eddie Esses, chief executive officer of Galaxy Brand Holdings. "Both brands enjoy a loyal consumer base, and we are committed to continuing a tradition of serving all of our retail partners with innovative, high-quality products. We see significant opportunity -- in both domestic and international markets -- to drive the growth and continued development of these brands". The realignment and integration related costs associated with this transaction are expected to result in a charge of $15 million to $17 million in fiscal 2013, or approximately $0.28 to $0.33 per diluted share on a GAAP basis. Of this amount, $11 million to $13 million is expected to be non-cash. Brown Shoe Company will announce its first quarter 2013 financial results before market open on Wednesday, May 29. Company executives will host a financial analyst call at 9:00 a.m. ET that day, to discuss first quarter earnings and to provide a general business update. The dial-in number for financial analysts in North America is (877) 217-9089 or (706) 679-1723 for international analysts, and the conference ID is 70291031 . To participate, please dial in a few minutes before the scheduled time. Employees, the media and the public are invited to listen to the call at investor.brownshoe.com/news/events . A replay of the call will be available through Wednesday, June 12, 2013, by dialing (855) 859-2056 in North America (404) 537-3406 internationally and using the conference ID 70291031 . A webcast replay will also be archived for a limited period at investor.brownshoe.com/news/events/archive . # # # Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 This press release contains certain forward-looking statements and expectations regarding the company's future performance and the performance of its brands. Such statements are subject to various risks and uncertainties that could cause actual results to differ materially. These risks include (i) changing consumer demands, which may be influenced by consumers' disposable income, which in turn can be influenced by general economic conditions; (ii) intense competition within the footwear industry; (iii) rapidly changing fashion trends and purchasing patterns; (iv) customer concentration and increased consolidation in the retail industry; (v) political and economic conditions or other threats to the continued and uninterrupted flow of inventory from China, where Brown Shoe Company relies heavily on manufacturing facilities for a significant amount of their inventory; (vi) the ability to recruit and retain senior management and other key associates; (vii) the ability to attract, retain and maintain good relationships with licensors and protect intellectual property rights; (viii) the ability to secure/exit leases on favorable terms; (ix) the ability to maintain relationships with current suppliers; (x) compliance with applicable laws and standards with respect to lead content in paint and other product safety issues; (xi) the ability to source product at a pace consistent with increased demand for footwear; and (xii) the impact of rising prices in a potentially inflationary global environment. The company's reports to the Securities and Exchange Commission contain detailed information relating to such factors, including, without limitation, the information under the caption Risk Factors in Item 1A of the company's Annual Report on Form 10-K for the year ended February 2, 2013, which information is incorporated by reference herein and updated by the company's Quarterly Reports on Form 10-Q. The company does not undertake any obligation or plan to update these forward-looking statements, even though its situation may change. About Brown Shoe Company Brown Shoe Company is a $2.6 billion, global footwear company whose shoes are worn by people of all ages, from all walks of life. Our products are available virtually everywhere - in the nearly 1,300 Famous Footwear and Naturalizer retail stores we operate, in hundreds of major department and specialty stores, on 14 branded ecommerce sites, and on many additional third-party retail websites. Through our broad range of products, we serve three key market segments. Our Family brands - Famous Footwear, Famous.com, and shoes.com - are one-stop-shopping destinations for high quality, affordable styles for a family's every occasion. Active people who want comfort, style and performance can look to our Healthy Living brands - Naturalizer, Dr. Scholl's Shoes, LifeStride and Ryka. Our Contemporary Fashion brands - Via Spiga, Vera Wang, Vince, Sam Edelman, Franco Sarto, Carlos Santana and Fergie Footwear - keep fashionistas in step with the latest trends. At Brown Shoe Company, we inspire people to feel good and live better... feet first! About Galaxy Brand Holdings, Inc. Galaxy Brand Holdings, Inc. is a New York-based brand acquisition and development firm recently founded by a team of industry veterans. The company was formed to acquire brands and other intellectual property in the apparel, footwear and accessory markets, which have broad, global, consumer appeal.
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1353487-000114420414063866-v392467_ex99-1
EX-99.1 2 v392467_ex99-1.htm EXHIBIT 99.1 News Release Investor Contacts: KCSA Strategic Communications Philip Carlson / Brad Nelson +1 212.896.1233 / +1 212.896.1217 pcarlson@kcsa.com / bnelson@kcsa.com MagneGas Acquires Independent Fuel Distribution Company Company Acquires Equipment Sales and Service, Inc. of Florida TAMPA, FL - 10/27/14 -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), a technology company that counts among its inventions a patented process that converts liquid waste into a hydrogen-based fuel, announced today that it has completed the acquisition of Equipment Sales and Service, Inc. ("ESSI") of Clearwater, Florida. ESSI is an established industrial gas distribution company with estimated 2014 gross revenues of almost $2 million earned through the sales of industrial gases and related products. MagneGas has purchased this established local industrial gas distributor to provide a platform to further MagneGas® fuel sales and expand its customer product availability. The Company believes that the purchase of ESSI will allow more rapid market penetration to grow recurring sales of MagneGas® fuel while offering a wider range of services to industrial, metalworking, and fabrication customers. Established more than 20 years ago, this distributor is one of the largest independently owned gas distribution companies in the area offering a broad range of welding gas products and services. Magnegas purchased 100% of the outstanding stock of ESSI in exchange for $3 million in cash paid at the closing. The acquisition is expected to bring the overall MagneGas fuel division to a breakeven level in 2015. "Having founded ESSI over 20 years ago based on customer service, I am pleased to see that it will stay independent with a Company such as MagneGas that is focused customer satisfaction and innovation. I am excited to have found an independent Company that is growing and cares about its customers as much as I do", stated Robert Ficocelli, Founder and CEO, Equipment Sales and Service, Inc. "After acquiring this local well-established gas distributor, we are now entering the next phase of our expansion into the industrial, metal working, and fabrication markets. This purchase will provide a springboard to introduce and sell Magnegas2® fuel to a wider audience of customers around the Tampa Bay area", stated Ermanno Santilli, CEO of MagneGas Corporation. "Separately, we have purchased a nearby industrial building which will allow for the expansion of MagneGas headquarters as we continue to attract customers and partners from around the world". The MagneGas IR App is now available for free in Apple's App Store for the iPhone or iPad http://bit.ly/AfLYww and at Google Play http://bit.ly/Km2iyk for Android mobile devices. To be added to the MagneGas investor email list, please email pcarlson@kcsa.com with MNGA in the subject line. About MagneGas Corporation Founded in 2007, Tampa-based MagneGas Corporation (NASDAQ: MNGA) is a technology Company that counts among its inventions, a patented process that converts liquid waste into hydrogen based fuels. The Company currently sells MagneGas® into the metal working market as a replacement to acetylene. It is also selling equipment for the sterilization of bio-contaminated liquid waste for various industrial and agricultural markets. In addition, the Company is developing a variety of ancillary uses for MagneGas® fuels utilizing its high flame temperature for co-combustion of hydrocarbon fuels and other advanced applications. For more information on MagneGas®, please visit the Company's website at www.MagneGas.com. FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.
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"acquisition", "of", "Equipment", "Sales", "and", "Service", ",", "Inc", ".", "(", "\"", "ESSI", "\"", ")", "of", "Clearwater", ",", "Florida", ".", "ESSI", "is", "an", "established", "industrial", "gas", "distribution", "company", "with", "estimated", "2014", "gross", "revenues", "of", "almost", "$", "2 million", "earned", "through", "the", "sales", "of", "industrial", "gases", "and", "related", "products", ".", "MagneGas", "has", "purchased", "this", "established", "local", "industrial", "gas", "distributor", "to", "provide", "a", "platform", "to", "further", "MagneGas", "®", "fuel", "sales", "and", "expand", "its", "customer", "product", "availability", ".", "The", "Company", "believes", "that", "the", "purchase", "of", "ESSI", "will", "allow", "more", "rapid", "market", "penetration", "to", "grow", "recurring", "sales", "of", "MagneGas", "®", "fuel", "while", "offering", "a", "wider", "range", "of", "services", "to", "industrial", ",", "metalworking", ",", "and", "fabrication", "customers", ".", "Established", "more", "than", "20", "years", "ago", ",", "this", "distributor", "is", "one", "of", "the", "largest", "independently", "owned", "gas", "distribution", "companies", "in", "the", "area", "offering", "a", "broad", "range", "of", "welding", "gas", "products", "and", "services", ".", "Magnegas", "purchased", "100", "%", "of", "the", "outstanding", "stock", "of", "ESSI", "in", "exchange", "for", "$", "3 million", "in", "cash", "paid", "at", "the", "closing", ".", "The", "acquisition", "is", "expected", "to", "bring", "the", "overall", "MagneGas", "fuel", "division", "to", "a", "breakeven", "level", "in", "2015", ".", "\"", "Having", "founded", "ESSI", "over", "20", "years", "ago", "based", "on", "customer", "service", ",", "I", "am", "pleased", "to", "see", "that", "it", "will", "stay", "independent", "with", "a", "Company", "such", "as", "MagneGas", "that", "is", "focused", "customer", "satisfaction", "and", "innovation", ".", "I", "am", "excited", "to", "have", "found", "an", "independent", "Company", "that", "is", "growing", "and", "cares", "about", "its", "customers", "as", "much", "as", "I", "do", "\"", ",", "stated", "Robert", "Ficocelli", ",", "Founder", "and", "CEO", ",", "Equipment", "Sales", "and", "Service", ",", "Inc", ".", "\"", "After", "acquiring", "this", "local", "well", "-", "established", "gas", "distributor", ",", "we", "are", "now", "entering", "the", "next", "phase", "of", "our", "expansion", "into", "the", "industrial", ",", "metal", "working", ",", "and", "fabrication", "markets", ".", "This", "purchase", "will", "provide", "a", "springboard", "to", "introduce", "and", "sell", "Magnegas2", "®", "fuel", "to", "a", "wider", "audience", "of", "customers", "around", "the", "Tampa", "Bay", "area", "\"", ",", "stated", "Ermanno", "Santilli", ",", "CEO", "of", "MagneGas", "Corporation", ".", "\"", "Separately", ",", "we", "have", "purchased", "a", "nearby", "industrial", "building", "which", "will", "allow", "for", "the", "expansion", "of", "MagneGas", "headquarters", "as", "we", "continue", "to", "attract", "customers", "and", "partners", "from", "around", "the", "world", "\"", ".", "The", "MagneGas", "IR", "App", "is", "now", "available", "for", "free", "in", "Apple", "'s", "App", "Store", "for", "the", "iPhone", "or", "iPad", "http://bit.ly/AfLYww", "and", "at", "Google", "Play", "http://bit.ly/Km2iyk", "for", "Android", "mobile", "devices", ".", "To", "be", "added", "to", "the", "MagneGas", "investor", "email", "list", ",", "please", "email", "pcarlson@kcsa.com", "with", "MNGA", "in", "the", "subject", "line", ".", "About", "MagneGas", "Corporation", "Founded", "in", "2007", ",", "Tampa", "-", "based", "MagneGas", "Corporation", "(", "NASDAQ", ":", "MNGA", ")", "is", "a", "technology", "Company", "that", "counts", "among", "its", "inventions", ",", "a", "patented", "process", "that", "converts", "liquid", "waste", "into", "hydrogen", "based", "fuels", ".", "The", "Company", "currently", "sells", "MagneGas", "®", "into", "the", "metal", "working", "market", "as", "a", "replacement", "to", "acetylene", ".", "It", "is", "also", "selling", "equipment", "for", "the", "sterilization", "of", "bio", "-", "contaminated", "liquid", "waste", "for", "various", "industrial", "and", "agricultural", "markets", ".", "In", "addition", ",", "the", "Company", "is", "developing", "a", "variety", "of", "ancillary", "uses", "for", "MagneGas", "®", "fuels", "utilizing", "its", "high", "flame", "temperature", "for", "co", "-", "combustion", "of", "hydrocarbon", "fuels", "and", "other", "advanced", "applications", ".", "For", "more", "information", "on", "MagneGas", "®", ",", "please", "visit", "the", "Company", "'s", "website", "at", "www.MagneGas.com", ".", "FORWARD", "-", "LOOKING", "STATEMENTS", "This", "press", "release", "contains", "forward", "-", "looking", "statements", "as", "defined", "within", "Section", "27A", "of", "the", "Securities", "Act", "of", "1933", ",", "as", "amended", ",", "and", "Section", "21E", "of", "the", "Securities", "Exchange", "Act", "of", "1934", ",", "as", "amended", ".", "These", "statements", "relate", "to", "future", "events", ",", "including", "our", "ability", "to", "raise", "capital", ",", "or", "to", "our", "future", "financial", "performance", ",", "and", "involve", "known", "and", "unknown", "risks", ",", "uncertainties", "and", "other", "factors", "that", "may", "cause", "our", "actual", "results", ",", "levels", "of", "activity", ",", "performance", ",", "or", "achievements", "to", "be", "materially", "different", "from", "any", "future", "results", ",", "levels", "of", "activity", ",", "performance", "or", "achievements", "expressed", "or", "implied", "by", "these", "forward", "-", "looking", "statements", ".", "You", "should", "not", "place", "undue", "reliance", "on", "forward", "-", "looking", "statements", "since", "they", "involve", "known", "and", "unknown", "risks", ",", "uncertainties", "and", "other", "factors", "which", "are", ",", "in", "some", "cases", ",", "beyond", "our", "control", "and", "which", "could", ",", "and", "likely", "will", ",", "materially", "affect", "actual", "results", ",", "levels", "of", "activity", ",", "performance", "or", "achievements", ".", "Any", "forward", "-", "looking", "statement", "reflects", "our", "current", "views", "with", "respect", "to", "future", "events", "and", "is", "subject", "to", "these", "and", "other", "risks", ",", "uncertainties", "and", "assumptions", "relating", "to", "our", "operations", ",", "results", "of", "operations", ",", "growth", "strategy", "and", "liquidity", ".", "We", "assume", "no", "obligation", "to", "publicly", "update", "or", "revise", "these", "forward", "-", "looking", "statements", "for", "any", "reason", ",", "or", "to", "update", "the", "reasons", "actual", "results", "could", "differ", "materially", "from", "those", "anticipated", "in", "these", "forward", "-", "looking", "statements", ",", "even", "if", "new", "information", "becomes", "available", "in", "the", "future", ".", "For", "a", "discussion", "of", "these", "risks", "and", "uncertainties", ",", "please", "see", "our", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "Our", "public", "filings", "with", "the", "SEC", "are", "available", "from", "commercial", "document", "retrieval", "services", "and", "at", "the", "website", "maintained", "by", "the", "SEC", "at", "http://www.sec.gov", "." ]
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832370-000107261307001093-exh99-1_15158
EX-99.1 5 exh99-1_15158.txt PRESS RELEASE EXHIBIT 99.1 ------------ SEMOTUS SELLS FINANCIAL WIRELESS ASSETS TO STOCKGROUP PENDING MERGER WITH CITYTALK, INC. CONTINUES TO MOVE FORWARD LOS GATOS, CA - MAY 9, 2007 - Semotus Solutions, Inc. (AMEX:DLK), an innovative leader of software solutions for enterprise mobility, today announced that it has signed an agreement to sell its wireless financial information assets to Stockgroup Systems, Ltd. (OTCBB: SWEB, TSX-V: SWB). Semotus expects to benefit over the next two years through a revenue share agreement, leveraging Stockgroup's strength in the financial market niche. Commenting on the asset sale, Anthony LaPine, CEO of Semotus, stated: "I am pleased to have found a home for our legacy financial products. I am looking forward to working with Marcus New, the President and CEO of Stockgroup, and his talented team. This sale will enable Semotus to focus on our flagship product -- HiplinkXS -- and the completion of our pending merger with CityTalk". Mr. New, President and CEO of Stockgroup, commented: "Stockgroup expects to achieve significant synergy with the combination of the Semotus financial products with those recently acquired from TCS. We look forward to a rewarding and continuing relationship with Semotus to maximize the revenue these products will contribute to both companies". The asset sale was completed with the approval of CityTalk and will not have a negative affect on the pending merger between CityTalk and Semotus. Semotus is currently in the process of responding to various comments and questions from the US Securities and Exchange Commission about the offering documents to be used in connection with the proposed merger with CityTalk. Customers of Semotus' wireless financial data services should not see any change to their service. All of Semotus' wireless financial data services will continue to run uninterrupted during the transition to Stockgroup, and the financial data currently being provided through these services is expected to remain the same. ABOUT SEMOTUS SOLUTIONS, INC. Founded in 1993, Semotus Solutions (AMEX:DLK) is a provider of software for the mobile enterprise, connecting people to critical business systems, information and processes. Semotus has a Fortune 1000 customer base including Lockheed Martin, Blue Cross Blue Shield, Coca-Cola, Hewlett Packard, Nextel Communications, JP Morgan Chase and The United Nations. Semotus Solutions' software provides mobility, convenience, efficiency and profitability in the areas of workforce automation, finance, health care and m-commerce. For more information, please visit the following web sites: www.semotus.com; www.hiplinkwireless.com; www.clickmarks.com; www.xb.com. ABOUT STOCKGROUP INFORMATION SYSTEMS INC. StockgroupTM is a financial media company focused on user-generated content and collaborative technologies. The Stockgroup platform for web-based portfolio management, financial content and wireless market data is licensed to top North American brokerage firms and media companies. The Stockgroup platform is also extended through StockHouse.com, a leading online financial portal owned and operated by Stockgroup. StockHouse.com is home to BullBoardsTM message board - Canada's largest community of active investors. Recognized for its engaged audience, StockHouse.com provides a sought-after demographic for advertisers. To find out more about Stockgroup (OTCBB: SWEB, TSX-V: SWB), visit our website at www.stockgroup.com, or contact: Steve Gear Director of Capital Markets Stockgroup Information Systems Inc. Ph: 604.288.2861 / 1.800.650.1211 # # # This press release may be deemed to be solicitation material in respect of the proposed merger with Citytalk, Inc. In connection with the proposed transaction, Semotus plans to file a definitive proxy statement with the SEC. Investors and security holders of Semotus are advised to read the DEFINITIVE proxy statement and any other relevant documents filed with the SEC when they become available because those documents will contain important information about the proposed transaction. The final, definitive proxy statement will be mailed to shareholders of Semotus. The preliminary proxy statement is, and the definitive proxy statement and other relevant documents will be, available for free at the SEC's web site at http://www.sec.gov. Free copies of the preliminary proxy statement, the definitive proxy statement, when it becomes available, and Semotus' other filings with the SEC may also be obtained from Semotus. Free copies of Semotus' filings may be obtained by directing a request to Semotus Solutions, Inc., 718 University Ave., Suite 202, Los Gatos, CA 95032 Attention: Secretary. Semotus and its respective directors, executive officers and other members of its management and employees may be deemed to be soliciting proxies from Semotus' shareholders in favor of the proposed transaction. Information regarding Semotus' directors and executive officers is available in Semotus' proxy statement for its 2006 annual meeting of stockholders, which was filed with the SEC on July 26, 2006. Additional information regarding the interests of such potential participants is included in the preliminary proxy statement filed with the SEC on March 19, 2007 and will be included in the definitive proxy statement, when it becomes available. This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "intends", "believes", and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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1638287-000110465919076916-a19-28294_1ex99d1
EX-99.1 9 a19-28294_1ex99d1.htm EX-99.1 Exhibit 99.1 Gemphire Therapeutics Announces Expected Closing Date of Merger with NeuroBo Pharmaceuticals Ann Arbor, Mich., December 30 2019 - The pending merger between Gemphire Therapeutics Inc. (NASDAQ:GEMP) and NeuroBo Pharmaceuticals, Inc. is currently expected to close after market hours today, Monday, December 30, 2019, subject to satisfaction or waiver of all closing conditions. As previously announced, Gemphire's stockholders voted to approve the proposals required to complete the merger transaction. In connection with these approvals, the Board of Directors of Gemphire has approved a reverse stock split of Gemphire's common stock at a ratio of one new share for every 25 shares outstanding, which is expected to become effective immediately prior to the consummation of the merger. Immediately following the closing, the combined company will be renamed "NeuroBo Pharmaceuticals, Inc.", and is expected to begin trading on The Nasdaq Capital Market on a post-reverse stock split basis under the new ticker symbol "NRBO" on Tuesday, December 31, 2019. Forward-Looking Statements Statements contained in this press release regarding matters that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning the structure, timing and completion of the reverse stock split, proposed merger with NeuroBo, and listing on The Nasdaq Capital Market. The parties may not actually achieve the proposed merger or otherwise carry out the intentions or meet the expectations or projections disclosed in our forward-looking statements, and you should not place undue reliance on these forward-looking statements. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon Gemphire and NeuroBo's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with the ability to consummate the proposed merger. Risks and uncertainties facing Gemphire and NeuroBo are described more fully in Gemphire's periodic reports and the Form S-4 registration statement filed with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Gemphire undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made. Gemphire Contact: Ashley Robinson LifeSci Advisors LLC (617) 535-7742 NeuroBo Contact: Nicole Franklin Racepoint Global (617) 624-3264 nfranklin@racepointglobal.com
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1122380-000114420405006644-v013831_ex99-1
EX-99.1 13 v013831_ex99-1.txt PRESS RELEASE Source: Thomas Equipment Inc. THOMAS EQUIPMENT INC. COMPLETES SIGNIFICANT STRATEGIC ACQUISITION OF PNEUTECH INC. AND ITS SUBSIDIARIES Monday February 28, 6:55 pm ET PNEUTECH INC. BECOMES WHOLLY OWNED SUBSIDIARY OF THOMAS EQUIPMENT INC. CENTREVILLE, New Brunswick--(BUSINESS WIRE)--Feb. 28, 2005-- Thomas Equipment Inc. ("Thomas") (OTCBB:TEQI - News), www.thomas-equipment.com, today announced that it completed its acquisition of Pneutech Inc. ("Pneutech") and Pneutech's wholly owned subsidiaries, www.pneutech-rousseau.com. Thomas acquired one hundred percent of Pneutech's outstanding stock in a stock for stock exchange. Pneutech is primarily a manufacturer of hydraulic systems and is a strategic supplier to Thomas. In the fiscal year ending October 31, 2004, Pneutech and its subsidiaries had revenue of approximately C$65,000,000. Pneutech's business units include: Pneutech Inc. http://www.pneutech.ca Rousseau Controls Inc. http://www.rousseaucontrols.com/ Samsung Industry Co. Ltd. http://www.ss-ind.com/ Hydramen Fluid Power Limited http://www.hydramen.com/ Pneutech Inc. was formed in 1973 and has over thirty-two years of experience in the field of fluid power and specializes in the design engineering, manufacturing and distribution of pneumatic and hydraulic systems and components for all automation and motion control applications. Pneutech's manufacturing and distribution facilities are located in Montreal, Toronto, Quebec City, Chicoutimi, Trois-Rivieres and British Columbia. Rousseau Controls Inc. was formed in 1948 to serve a growing need for fluid power components in the Montreal area. Once the company was established and a complete line of components obtained for representation, it became apparent that customers also required application engineering assistance. Thus, the manufacturing department, including an engineering group, was formed. The corporation increased its research and development activities in 1988 in order to maintain and improve its competitive position. Samsung Industry Co. Ltd. was formed in 1995 as a pump and valve manufacturing company. Today its focus is the manufacturing and distribution of spiral wound metal gaskets and packing material. The Products of S.S.I. are gaining recognition from both domestic and foreign industrial markets. They are manufactured on the basis of alert and cautious "Quality Guaranty System" which is applied to all processes. S.S.I.'s spirit of craftsmanship continuously improves and develops new technologies to ensure the production of new and superior products. Hydramen Fluid Power Limited is a manufacturer of precision and custom cylinders for both mobile and industrial product applications. With the use of its state-of-the-art CNC machines, Hydramen core competencies include the production of heavy duty cylinders with pressures up to 5000 P.S.I. In addition, Hydramen is a distributor for leading manufacturers of fluid power components and products. In addition, the current directors of Thomas assumed similar positions with Pneutech. "The Pneutech acquisition is a key element in our overall strategy of building synergistic businesses with revolutionary technology." said Clifford Rhee, President and CEO of Thomas. "In addition, Pneutech recently completed and opened a state of the art plant in Busan, South Korea. With a modest capital expenditure budget, this plant will accommodate a substantial portion of the new orders resulting from our recently announced OEM Agreement with Hyundai Heavy Industries. We are now poised for continued expansion, both through acquisitions and via organic growth. Our mission is to make Thomas a leading international manufacturer in all of its product lines." TEQI Chairman David M. Marks stated: "This acquisition is integral to our overall acquisition strategy in this space. Cliff and I are confident that we will create tremendous shareholder value, as we continue to build the Thomas business." Thomas' counsel, Sichenzia Ross Friedman Ference LLP, http://www.srff.com/, represented it in the transaction. About Thomas Equipment Inc. ("TEQI"): Thomas Equipment Inc., www.thomas-equipment.com, www.thomasequipment.net and www.thomasloaders.com, Thomas is an innovative and technologically advanced global manufacturer of a full line of skid steer and mini skid steer loaders as well as attachments, mobile screening plants and six models of mini excavators. Thomas distributes its products through a worldwide network of distributors and wholesalers. In addition, Thomas manufactures specialty industrial and construction products and a complete line of potato harvesting and handling equipment. Safe Harbor Statement Under the Private Securities Litigation Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of TEQI could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rate and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may", "will," "should", "expect", "plan", "anticipate", "believe", "estimate", "predict," "potential" or "continue", the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors see the risk factors associated with our Company, review our SEC filings. ------------ Contact: New-School Communications, LLC Media: Blois Olson, 651-221-1999 www.new-school.com or Redwood Consultants, LLC Investors: Jens Dalsgaard, 415-884-0348
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12239-000141588913001803-ex99-1
EX-99 3 ex99-1.htm PRESS RELEASE DATED SEPTEMBER 10, 2013 ex99-1.htm Exhibit 99.1 Spherix Announces Closing of Acquisition of North South Holdings - Appointment of Anthony Hayes as new CEO TYSONS CORNER, VA--(Marketwired - September 10, 2013) - Spherix Incorporated (NASDAQ: SPEX) ("Spherix" or the "Company") -- an intellectual property development company -- today announced that it closed on the acquisition of North South Holdings Inc. (hereinafter "North South"), previously announced on April 2, 2013. In addition, Spherix reported that it received NASDAQ approval for continued listing on the NASDAQ exchange. Anthony Hayes, former CEO of North South, will take over as CEO of Spherix. Mr. Hayes commented, "We are very pleased to finalize the merger and we look forward to continuing to build a strong NASDAQ company for our shareholders". North South, which is now part of Spherix, owns a patent portfolio consisting of 224 patents in the fields of wireless communications, satellite, solar, radio frequency and pharmaceutical distribution. North South is already managing its patent portfolio and has filed patent infringement litigation against T-Mobile USA and two lawsuits related to pharmaceutical distribution. North South's portfolio adds both breadth and scope to the group of patents in the mobile communication sector recently acquired from Rockstar Consortium. About Spherix Spherix Incorporated was launched in 1967 as a scientific research company. Spherix presently offers a diversified commercialization platform for protected technologies. The company continues to work on life sciences and drug development and presently is exploring opportunities in nutritional supplement products relying on its D-Tagatose natural sweetener as a GRAS ingredient. Spherix is committed to advancing innovation by active participation in all areas of the patent market. Spherix draws on portfolios of pioneering technology patents to partner with and support product innovation. Through its recently announced acquisition of several hundred patents Spherix intends to expand its activities in wireless communications and telecommunication sectors including antenna technology, Wi-Fi, base station functionality, and cellular. No assurance can be given that the Company's patents or efforts seeking to license or enforce any patents will be successful, generate income or result in profits for the Company. Forward Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may", "might", "will", "should", "believe", "expect", "anticipate", "estimate", "continue", "predict", "forecast", "project", "plan", "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law. Contact : Spherix Incorporated Investor Relations Phone: (703) 992-9325 Email: info@spherix.com
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"forward", "looking", "statements", "are", "based", "upon", "current", "estimates", "and", "assumptions", "and", "are", "subject", "to", "various", "risks", "and", "uncertainties", ",", "including", "without", "limitation", "those", "set", "forth", "in", "the", "Company", "'s", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", "(", "the", "\"", "SEC", "\"", ")", ",", "not", "limited", "to", "Risk", "Factors", "relating", "to", "its", "patent", "business", "contained", "therein", ".", "Thus", ",", "actual", "results", "could", "be", "materially", "different", ".", "The", "Company", "expressly", "disclaims", "any", "obligation", "to", "update", "or", "alter", "statements", "whether", "as", "a", "result", "of", "new", "information", ",", "future", "events", "or", "otherwise", ",", "except", "as", "required", "by", "law", ".", "Contact", ":", "Spherix", "Incorporated", "Investor", "Relations", "Phone", ":", "(", "703", ")", "992", "-", "9325", "Email", ":", "info@spherix.com" ]
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1102643-000119312505023643-dex991
EX-99.1 2 dex991.htm PRESS RELEASE DATED FEBRUARY 3, 2005. Press Release dated February 3, 2005. Exhibit 99.1 FOR IMMEDIATE RELEASE Investor Contact: Media Contact: Robert S. Schneider Maria F. Slippen U.S.I. Holdings Corporation U.S.I. Holdings Corporation 914-749-8502 914-749-8511 rschneider@usi.biz maria.slippen@usi.biz U.S.I. Holdings Corporation Closes Acquisition of Summit Global Partners BRIARCLIFF MANOR, N.Y., February 3, 2005 - U.S.I. Holdings Corporation ("USI"), (NASDAQ: USIH) today announced the closing of the previously announced acquisition of Dallas, TX headquartered Summit Global Partners ("SGP"). Terms of the transaction were not disclosed. Established in 1996, SGP is, according to published sources, the 14th largest privately held insurance brokerage firm in the United States. SGP specializes in risk management and employee benefits for middle market companies throughout the U.S. with offices in Texas, Florida, Illinois, California, Tennessee, New Mexico and Michigan. SGP is expected to contribute approximately $66 million of revenues to USI on an annual basis. David L. Eslick, USI's Chairman, President and CEO, said, "USI is committed to growth through acquisitions of strong agencies with quality professionals that strengthen our existing geographic footprint and enable us to provide the highest quality service to our clients locally and nationally. The synergies created by the combination of USI and SGP will benefit the clients of both companies through expanded and enhanced product offerings and increased efficiencies. I am pleased to officially welcome Jeff Pan, Jeff Haynes, Jack Wagner and the entire SGP team and look forward to working together to exceed our clients' expectations". Joseph R. Wiedemann, Chairman of Summit Global Partners, said, " With the completion of this transaction with USI, our goal of offering enhanced insurance and professional services to our clients has been achieved, and we have increased our ability to form strategic relationships. Working as a team, the employees of SGP and USI will leverage their skills and resources to deliver the highest quality products and services to current and potential clients". This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", "will" or words of similar meaning and include, but are not limited to, statements about the acquisition and the expected future business and financial performance of USI resulting from and following the acquisition. These statements are based on management's current expectations and are inherently subject to uncertainties and changes in circumstances. Detailed information about the factors that could cause actual results to differ materially from those described in the forward-looking statements is contained in USI's filings with the SEC. All forward-looking statements included in this press release are made only as of the date of this press release, and USI does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which USI hereafter becomes aware. About U.S.I. Holdings Corporation Founded in 1994, USI is a leading distributor of insurance and financial products and services to businesses throughout the United States. USI is headquartered in Briarcliff Manor, NY, and operates out of 63 offices in 19 states. Additional information about USI may be found at www.usi.biz.
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"acquisition", "of", "Dallas", ",", "TX", "headquartered", "Summit", "Global", "Partners", "(", "\"", "SGP", "\"", ")", ".", "Terms", "of", "the", "transaction", "were", "not", "disclosed", ".", "Established", "in", "1996", ",", "SGP", "is", ",", "according", "to", "published", "sources", ",", "the", "14th", "largest", "privately", "held", "insurance", "brokerage", "firm", "in", "the", "United", "States", ".", "SGP", "specializes", "in", "risk", "management", "and", "employee", "benefits", "for", "middle", "market", "companies", "throughout", "the", "U", ".", "S", ".", "with", "offices", "in", "Texas", ",", "Florida", ",", "Illinois", ",", "California", ",", "Tennessee", ",", "New", "Mexico", "and", "Michigan", ".", "SGP", "is", "expected", "to", "contribute", "approximately", "$", "66 million", "of", "revenues", "to", "USI", "on", "an", "annual", "basis", ".", "David", "L", ".", "Eslick", ",", "USI", "'s", "Chairman", ",", "President", "and", "CEO", ",", "said", ",", "\"", "USI", 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1615346-000110465915066529-a15-19998_1ex99d1
EX-99.1 3 a15-19998_1ex99d1.htm EX-99.1 Exhibit 99.1 Landmark Infrastructure Partners LP Announces 5 th Acquisition of Real Property Interests from Sponsor, Landmark Dividend LLC El Segundo, California, September 22, 2015 (GLOBE NEWSWIRE) - Landmark Infrastructure Partners LP (the "Partnership") (NASDAQ: LMRK) today announced that it has acquired 65 tenant sites located in 24 states from its sponsor, Landmark Dividend LLC ("Landmark"), for total consideration of $20.3 million. This acquisition is expected to be immediately accretive to the Partnership's distributable cash flow. Highlights of the transaction: · The assets acquired by the Partnership consist of 50 wireless communication, 13 outdoor advertising and 2 renewable power generation sites; · The wireless communication, outdoor advertising and renewable power generation assets are expected to contribute approximately 77%, 22% and 1%, respectively, of the total forecasted annual rents; · The portfolio is 100% occupied and includes: (i) 74% of annual rents from Tier 1 tenants (large, publicly-traded companies with national footprints); (ii) an average annual escalator of 2.9%; and (iii) average remaining real property interest and lease terms of 91 years and 19 years (including remaining renewal options), respectively; · The assets being acquired are not part of the assets subject to the Partnership's right of first offer (ROFO) with affiliates of Landmark. Currently, the Partnership has a right of first offer on more than 800 assets with Landmark affiliates; · The Partnership is acquiring the assets with borrowings under its existing revolving credit facility. The Partnership's Chief Executive Officer, Tim Brazy, said, "We are excited to announce the Partnership's fifth acquisition from Landmark this year. Since the beginning of the year, we have acquired 512 tenant sites for total consideration of approximately $170 million, an increase in tenant sites of over 73% since our initial public offering in November of last year. We remain highly confident in our ability to grow distributable cash flow per unit and increase our distributions to unitholders". The terms of the acquisition were approved by the Board of Directors of the General Partner of the Partnership, based on the approval and recommendation of the Conflicts Committee, which is comprised entirely of independent directors. The Conflicts Committee was advised by Duff & Phelps Corporation, its financial advisor, and Akin Gump Straus Hauer & Feld LLP, its legal counsel. About Landmark Infrastructure Partners LP The Partnership is a growth-oriented master limited partnership formed to acquire, own and manage a portfolio of real property interests that the Partnership leases to companies in the wireless communication, outdoor advertising and renewable power generation industries. Headquartered in El Segundo, California, the Partnership's real property interests consist of a diversified portfolio of long-term and perpetual easements, tenant lease assignments and fee simple properties located in 45 states and the District of Columbia, entitling the Partnership to rental payments from leases on approximately 850 tenant sites as of June 30, 2015. Cautionary Note Regarding Forward Looking Statements Disclosures in this press release contain certain forward-looking statements within the meaning of the federal securities laws. Statements that do not relate strictly to historical or current facts are forward-looking. These statements contain words such as "possible", "if", "will", "expect" and "assuming" and involve risks and uncertainties including, among others that our business plans may change as circumstances warrant. These statements are often based upon various assumptions, many of which are based, in turn, upon further assumptions, including historical operating trends made by the management of the Partnership. Although the Partnership believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies, which are difficult or impossible to predict and are beyond its control, the Partnership cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions. Accordingly, readers should not place undue reliance on forward-looking statements as a prediction of actual results. Examples of forward-looking statements in this press release include the discussion of the expected accretion associated with the dropdown transaction, average annual escalators and potential acquisitions from our sponsor. For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, please refer to the "Risk Factors" section of contained in the Partnership's filings with the U.S. Securities and Exchange Commission, including the Partnership's annual report on Form 10-K for the year ended December 31, 2014. Any forward-looking statements in this press release are made as of the date of this press release and the Partnership undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or of which the Partnership becomes aware, after the date hereof, unless required by law. CONTACT: Marcelo Choi Vice President, Investor Relations (310) 598-3173 ir@landmarkmlp.com
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"lease", "terms", "of", "91", "years", "and", "19", "years", "(", "including", "remaining", "renewal", "options", ")", ",", "respectively", ";", "·", "The", "assets", "being", "acquired", "are", "not", "part", "of", "the", "assets", "subject", "to", "the", "Partnership", "'", "s", "right", "of", "first", "offer", "(", "ROFO", ")", "with", "affiliates", "of", "Landmark", ".", "Currently", ",", "the", "Partnership", "has", "a", "right", "of", "first", "offer", "on", "more", "than", "800", "assets", "with", "Landmark", "affiliates", ";", "·", "The", "Partnership", "is", "acquiring", "the", "assets", "with", "borrowings", "under", "its", "existing", "revolving", "credit", "facility", ".", "The", "Partnership", "'s", "Chief", "Executive", "Officer", ",", "Tim", "Brazy", ",", "said", ",", "\"", "We", "are", "excited", "to", "announce", "the", "Partnership", "'s", "fifth", "acquisition", "from", "Landmark", "this", "year", ".", "Since", "the", "beginning", "of", "the", "year", ",", "we", "have", "acquired", "512", "tenant", "sites", "for", "total", "consideration", "of", "approximately", "$", "170 million", ",", "an", "increase", "in", "tenant", "sites", "of", "over", "73", "%", "since", "our", "initial", "public", "offering", "in", "November", "of", "last", "year", ".", "We", "remain", "highly", "confident", "in", "our", "ability", "to", "grow", "distributable", "cash", "flow", "per", "unit", "and", "increase", "our", "distributions", "to", "unitholders", "\"", ".", "The", "terms", "of", "the", "acquisition", "were", "approved", "by", "the", "Board", "of", "Directors", "of", "the", "General", "Partner", "of", "the", "Partnership", ",", "based", "on", "the", "approval", "and", "recommendation", "of", "the", "Conflicts", "Committee", ",", "which", "is", "comprised", "entirely", "of", "independent", "directors", ".", "The", "Conflicts", "Committee", "was", "advised", "by", "Duff", "&", "Phelps", "Corporation", ",", "its", "financial", "advisor", ",", "and", "Akin", "Gump", "Straus", "Hauer", "&", "Feld", "LLP", ",", "its", "legal", "counsel", ".", "About", "Landmark", "Infrastructure", "Partners", "LP", "The", "Partnership", "is", "a", "growth", "-", "oriented", "master", "limited", "partnership", "formed", "to", "acquire", ",", "own", "and", "manage", "a", "portfolio", "of", "real", "property", "interests", "that", "the", "Partnership", "leases", "to", "companies", "in", "the", "wireless", "communication", ",", "outdoor", "advertising", "and", "renewable", "power", "generation", "industries", ".", "Headquartered", "in", "El", "Segundo", ",", "California", ",", "the", "Partnership", "'s", "real", "property", "interests", "consist", "of", "a", "diversified", "portfolio", "of", "long", "-", "term", "and", "perpetual", "easements", ",", "tenant", "lease", "assignments", "and", "fee", "simple", "properties", "located", "in", "45", "states", "and", "the", "District", "of", "Columbia", ",", "entitling", "the", "Partnership", "to", "rental", "payments", "from", "leases", "on", "approximately", "850", "tenant", "sites", "as", "of", "June", "30", ",", "2015", ".", "Cautionary", "Note", "Regarding", "Forward", "Looking", "Statements", "Disclosures", "in", "this", "press", "release", "contain", "certain", "forward", "-", "looking", "statements", "within", "the", "meaning", "of", "the", "federal", "securities", "laws", ".", "Statements", "that", "do", "not", "relate", "strictly", "to", "historical", "or", "current", "facts", "are", "forward", "-", "looking", ".", "These", "statements", "contain", "words", "such", "as", "\"", "possible", "\"", ",", "\"", "if", "\"", ",", "\"", "will", "\"", ",", "\"", "expect", "\"", "and", "\"", "assuming", "\"", "and", "involve", "risks", "and", "uncertainties", "including", ",", "among", "others", "that", "our", "business", "plans", "may", "change", "as", "circumstances", "warrant", ".", "These", "statements", "are", "often", "based", "upon", "various", "assumptions", ",", "many", "of", "which", "are", "based", ",", "in", "turn", ",", "upon", "further", "assumptions", ",", "including", "historical", "operating", "trends", "made", "by", "the", "management", "of", "the", "Partnership", ".", "Although", "the", "Partnership", "believes", "that", "these", "assumptions", "were", "reasonable", "when", "made", ",", "because", "assumptions", "are", "inherently", "subject", "to", "significant", "uncertainties", "and", "contingencies", ",", "which", "are", "difficult", "or", "impossible", "to", "predict", "and", "are", "beyond", "its", "control", ",", "the", "Partnership", "can", "not", "give", "assurance", "that", "it", "will", "achieve", "or", "accomplish", "these", "expectations", ",", "beliefs", "or", "intentions", ".", "Accordingly", ",", "readers", "should", "not", "place", "undue", "reliance", "on", "forward", "-", "looking", "statements", "as", "a", "prediction", "of", "actual", "results", ".", "Examples", "of", "forward", "-", "looking", "statements", "in", "this", "press", "release", 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1176373-000110465919035696-a19-11488_1ex99d1
EX-99.1 12 a19-11488_1ex99d1.htm EX-99.1 Exhibit 99.1 News Release CONTACT: Roni Imbeaux Vice President, Finance and Investor Relations 404-407-1104 rimbeaux@cousins.com COUSINS PROPERTIES CLOSES MERGER WITH TIER REIT ATLANTA- (June 14, 2019) - Cousins Properties (NYSE: CUZ) announced today the closing of its stock-for-stock merger with TIER REIT, Inc. (NYSE: TIER). Shares of TIER common stock will be de-listed after the close of trading today. About Cousins Properties Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office towers located in high-growth Sun Belt markets. Founded in 1958, Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing, and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets and opportunistic investments. For more information, please visit www.cousins.com. Cautionary Statement Regarding Forward-Looking Information In addition to historical information, this communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on current expectations, estimates and projections about the industry and markets in which Cousins operates and beliefs of and assumptions made by Cousins management, involve uncertainties that could significantly affect the financial or operating results of the combined company. Words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", "will", "should", "may", "projects", "could", "estimates" or variations of such words and other similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature, but not all forward-looking statements include such identifying words. Such forward-looking statements include, but are not limited to, projections of earnings and statements of plans for future operations or expected revenues. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. For example, these forward-looking statements could be affected by factors including, without limitation, risks associated with (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, (v) the potential liability for a failure to meet regulatory requirements, including the maintenance of real estate investment trust status, (vi) availability of financing and capital, (vii) changes in demand for developed properties, (viii) risks associated with achieving expected revenue synergies or cost savings, (ix) material changes in the dividend rates on securities or the ability to pay dividends on common shares or other securities, (x) potential changes to tax legislation, (xi) adverse changes in financial condition of joint venture partner(s) or major tenants, (xii) risks associated with the acquisition, development, expansion, leasing and management of properties, (xiii) significant costs related to uninsured losses, condemnation, or environmental issues, (xiv) the ability to retain key personnel, and (xv) those additional risks and factors discussed in reports filed with the Securities and Exchange Commission by Cousins from time to time, including those discussed under the heading "Risk Factors" in our most recently filed reports on Form 10-K and 10-Q. Except to the extent required by applicable law or regulation, Cousins disclaims any duty to update any forward-looking statements contained in this communication or to otherwise update any of the above-referenced factors.
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1552845-000151597118000172-exhibit991
EX-99 3 exhibit991.htm EXHIBIT 99.1 Exhibit 99.1 Exhibit 99.1 Future Healthcare of America Completes Share Exchange Transaction of Natur Holding Europe's first hi-tech health food and beverage company Natur is set to revolutionize the Natural juice and snack market Amsterdam, The Netherlands, November 15, 2018 - Future Healthcare of America, (OTC: FUTU) (the "Company") today announced the consummation of its share exchange transaction with of Natur Holding B.V., a Netherlands-based company ("Natur"). Natur is Europe's first hi-tech health food and beverage company with a mission to revolutionize natural juice and snack consumption, allowing consumers to afford a better quality of life through natural and functional nutrition. With 100% natural/organic, non-GMO juices and snacks that contain no additives or preservatives, Natur focuses on the premium branded segment in which consumers are increasingly moving towards healthier alternatives, embracing the "snackification" trend. Natur's distribution channels include leading retailers, foodservice partners, online subscription models, and its own European flagship retail stores. Ellen Berkers, CEO/CFO of the Company, stated, "This transaction is indeed a giant step forward for Natur and gives us the potential to expand in the natural juice and snack market globally, including in the United States. At onset however, our focus will continue to be on the European marketplace. We are also pleased that Chris Spencer, former President of the Company, will remain onboard as a director to help facilitate the transaction". The Company's Chief Commercial Officer (CCO), Robert Jan van Olm, added, "With the funds raised from Alpha Capital Anstalt, this transition will enable Natur to start fulfilling its ambitions of becoming a major supplier of all natural healthy food and beverage products and to offer our customers a "farm to fridge" experience with top quality juices and healthy snacks. Our innovative methods and technologies are a key component of our competitive differentiation and success". In an exchange of securities transaction, Natur became a wholly owned subsidiary of the Company. The former shareholders of Nature received the equivalent of 215,759,999 shares of the common stock of the Company, which was issued in part as shares of common stock and in part as voting, convertible shares of Series B Preferred Stock. The Series B Preferred Stock will convert on a one for one basis into common stock once the Company increases its authorized capital, which it plans to do promptly. The Natur shareholders will have a controlling position among the shareholders of the Company immediately after the exchange transaction. Also, to be allocated to Natur management under an equity award program will be an additional 16,240,000 shares of common stock. In connection with the acquisition of Natur, the Company entered into several agreements with Alpha Capital Anstalt, a Liechtenstein Anstalt ("Alpha"). Alpha purchased 2,469.131 shares of non-voting, convertible Series A Preferred Stock, each share convertible into approximately 33,000 shares of common stock at the rate of $.030303. Alpha also purchased two warrants, one exercisable for 33,000,000 shares at $.060606 per share and one exercisable for 6,000,000 shares at $.15 per share. The aggregate purchase price for the Series A Preferred Stock and the two warrants was $2,000,000 in cash and conversion of approximately $769,000 of principle debt and interest due Alpha from the Company under a prior loan agreement. Prior to the acquisition of Natur, Alpha also cancelled approximately $651,000 of principle debt and interest due from the Company. These transactions eliminated $1,420,000 of principle debt and interest of the Company and improved its balance sheet. Alpha has also agreed to reimburse up to $100,000 of the liabilities of the Company existing at the closing date. About Natur Holding B.V. Natur pioneers the most advanced and emerging hi-tech health methodologies developing and utilizing innovative technologies to ensure its juices remain stable and fresh with an extended shelf life which is longer than many competing products. This approach uniquely delivers value to all retailers and customers. Natur intends to remain on the forefront of new all-natural products, embracing personalized nutrition and envisions being the leader of the new integrated field of healthy personalized nutrition enhancing one's quality of life by utilizing the powers of nature. Their slogan is: Naturalicious = natural & delicious. About Future Healthcare of America Future Healthcare of America, prior to the Natur transaction, provided home healthcare and healthcare staffing services. Forward-Looking Statements All statements in this release that are not based on historical fact are "forward-looking statements." While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties, some of which are described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our Annual Report on Form 10-K, which can be found on the SEC's website at www.sec.gov. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
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1554594-000155116314000089-ex991blvdproilandgasapr14201
EX-99 2 ex991blvdproilandgasapr14201.htm Converted by EDGARwiz A.C. Simmonds and Sons Inc., (BLVD Holdings Inc.) Acquires Vertility Oil & Gas TORONTO, ONTARIO--(Marketwired - April 14, 2014) - A. C. Simmonds and Sons Inc., (BLVD Holdings Inc. (the "Company") (OTCQB:BLVO) - Today John G. Simmonds, Chairman and CEO of A. C. Simmonds and Sons Inc. is pleased to announce the acquisition of Vertility Oil & Gas. Through acquisitions and joint ventures, Vertility Oil & Gas, headed by Mr. Rabea Allos, President, is focused in the Middle East market and Iraq where oil production is expected to grow from 3 million to 12 million barrels per day by 2017. To meet the demand to upgrade and expand infrastructure, Vertility Oil & Gas is procuring equipment, products and services and engaging in projects in the upstream, midstream and downstream sectors. Projects include oil well services, pipeline, power generation and distribution, water and wastewater, petrochemical, refining, and equipment process technology industries. " Mr. Allos is a dedicated professional and I am delighted to welcome him to the team " , said John Simmonds. " Rabea has over thirty years of experience as a Civil Engineer in the Middle East, Europe, and Canada. " " Vertility Oil & Gas recently acquired, and will be marketing a revolutionary product, OilStic in the Middle East market, " said Mr. Allos. " This addresses environmental issues surrounding thousands of oil ponds in the region through a revolutionary invention that completely separates oil from water. There is great potential for this market and our strong ties with the Middle East banking community assures significant available funding to finance projects. " Mr. Allos has worked closely with a number of Canadian companies with global presence, to develop business in the Middle East, in particular Iraq. He has a broad network of market contacts with industry players, government agencies and financial institutions. Vertility Oil & Gas has assembled a seasoned team of executives, local contractors, technical staff and affiliates with extensive experience in the Iraqi oil and gas industry, through long established relationships with buyers in the different state owned companies and the major international oil companies. About A. C. Simmonds and Sons The Company has initiated the process to change its name from BLVD Holdings Inc., (BLVO) to A.C. Simmonds and Sons Inc., The Company is a publicly traded company which is now focused on acquiring profitable businesses for expansion and development. John G. Simmonds began his career with A.C. Simmonds and Sons (Canada), now in its 96th year. He co-founded the largest Canadian golf course operation and has successfully grown companies and built effective teams. Mr. Simmonds has served as chairman and board director of several public companies. Forward-looking Statements Note: This press release contains "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. The Company cannot provide assurances that the matters described in this press release will be successfully completed or that the company will realize the anticipated benefits of any transaction. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management's ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the company's ability to retain key management and employees; intense competition and the company's ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in the Company's SEC filings. The Company undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with the Company's business, please refer to the risks and uncertainties detailed from time to time in the Company's SEC filings. This release does not constitute an offer for sale of securities. Contact Information A.C. Simmonds and Sons Inc. (changing its name from BLVD Holdings Inc.) Don Fenton 416-434-3681
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1324404-000110465910019790-a10-7288_7ex99d1
EX-99.1 2 a10-7288_7ex99d1.htm EX-99.1 Exhibit 99.1 NEWS NEWS NEWS CF INDUSTRIES COMPLETES EXCHANGE OFFER FOR TERRA INDUSTRIES Acquisition of Terra Industries to be Completed on April 15, 2010 DEERFIELD, IL, April 15, 2010 - CF Industries Holdings, Inc. (NYSE: CF) announced today that it has successfully completed its exchange offer for Terra Industries Inc. common stock and will complete the acquisition of Terra today, resulting in Terra becoming a wholly-owned subsidiary of CF Industries. As of the expiration of the subsequent offering period, Terra stockholders had tendered a total of 92,230,296 shares, representing approximately 92.1% of Terra's outstanding common stock. The subsequent offering period expired at 5:00 p.m., New York City time on April 14, 2010. All shares that were validly tendered in the exchange offer have been accepted for payment. As CF Industries now owns more than 90% of the outstanding shares of Terra common stock, CF Industries will complete the acquisition of Terra on April 15, 2010 through the short-form merger procedure under Maryland law, without a vote or meeting of Terra's stockholders. In the merger, each outstanding share of Terra common stock not tendered and purchased in the exchange offer will be converted into the right to receive $37.15 in cash and 0.0953 of a share of CF Industries common stock, less any required withholding taxes and without interest, which is the same amount per share that was offered and paid in the exchange offer. As of today, Terra common stock will cease trading on the New York Stock Exchange. Contact Terry Huch Senior Director, Investor Relations and Corporate Communications 847-405-2515 - thuch@cfindustries.com About CF Industries CF Industries Holdings, Inc., headquartered in Deerfield, Illinois, is the holding company for the operations of CF Industries, Inc. CF Industries is a global leader in nitrogen and phosphate fertilizer manufacturing and distribution, serving both agricultural and industrial customers. CF Industries operates world-class nitrogen fertilizer manufacturing complexes in the central United States and Canada; conducts phosphate mining and manufacturing operations in Central Florida; and distributes fertilizer products through a system of terminals, warehouses, and associated transportation equipment located primarily in the Midwestern United States. The company also owns 50 percent interests in KEYTRADE AG, a global fertilizer trading organization headquartered near Zurich, Switzerland; GrowHow UK Limited, a fertilizer manufacturer in the United Kingdom; and an ammonia facility in The Republic of Trinidad and Tobago. Additional information on CF Industries is found on the company's website at www.cfindustries.com. 1 Forward-Looking Statements Certain statements contained in this press release may constitute "forward-looking statements." All statements in this press release, other than those relating to historical information or current condition, are forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from such statements. Risks and uncertainties relating to the transaction include: uncertainty of the expected financial performance of CF Holdings following completion of the transaction; CF Holdings' ability to comply with the covenants in indebtedness related to the transaction and to make payments under such indebtedness when due; CF Holdings' ability to consummate an equity offering following the closing of the transaction; CF Holdings' ability to achieve the cost-savings and synergies contemplated by the transaction within the expected time frame; CF Holdings' ability to promptly and effectively integrate the businesses of Terra and CF Holdings; and disruption from the transaction making it more difficult to maintain relationships with customers, employees or suppliers. Additional risks and uncertainties include: the relatively expensive and volatile cost of North American natural gas; the cyclical nature of our business and the agricultural sector; the global commodity nature of our fertilizer products, the impact of global supply and demand on our selling prices, and the intense global competition in the consolidating markets in which we operate; conditions in the U.S. agricultural industry; risks involving derivatives; weather conditions; our inability to predict seasonal demand for our products accurately; the concentration of our sales with certain large customers; the impact of changing market conditions on our Forward Pricing Program; the reliance of our operations on a limited number of key facilities and the significant risks and hazards against which we may not be fully insured; reliance on third party transportation providers; risks associated with joint ventures; risks associated with expansion of our business, including unanticipated adverse consequences and the significant resources that could be required; future regulatory restrictions and requirements related to greenhouse gas emissions, climate change or other environmental requirements; potential liabilities and expenditures related to environmental and health and safety laws and regulations; our potential inability to obtain or maintain required permits and governmental approvals or to meet financial assurance requirements; acts of terrorism; difficulties in securing the supply and delivery of raw materials we use and increases in their costs; losses on our investments in securities; loss of key members of management and professional staff; the international credit crisis and global recession; and the other risks and uncertainties included from time to time in our filings with the SEC. Except as required by law, we undertake no obligation to update or revise any forward-looking statements. ### 2
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57725-000095012404005049-k89037exv99w1
EX-99.1 3 k89037exv99w1.txt MAY 5, 2004 PRESS RELEASE EXHIBIT 99.1 CONFIDENTIAL TREATMENT REQUESTED BY LANNETT COMPANY, INC. MAY 5, 2004 PRESS RELEASE LANNETT(R) COMPANY, INC ANNOUNCES THE SIGNING OF A CONTRACT WITH JEROME STEVENS PHARMACEUTICAL, INC. PHILADELPHIA, PA -- May 5, 2004 -- LANNETT(R) COMPANY, INC. (AMEX: LCI) announced that it has signed a contract with Jerome Stevens Pharmaceutical, Inc. (JSP), its primary supplier, for three of JSP's products. Effective immediately, Lannett and JSP have executed a contract that provides Lannett with exclusive distribution rights in the United States for the current line of JSP products. Lannett has been distributing a number of JSP products for the past two years without a formal agreement. The agreement is for a period of ten years. Under the terms of the contract, Lannett will have exclusive purchase and distribution rights for the following JSP products: Butalbital, with Aspirin, Caffeine and Codeine Phosphate capsules, Digoxin tablets, Levothyroxine Sodium tablets, and Unithroid(R) tablets. Lannett has previously sold these products for JSP; and the parties have agreed to memorialize the terms amid a growing business relationship. In exchange for the exclusive distribution rights, Lannett will grant JSP four million (4,000,000) shares of Lannett's authorized, unissued common stock. Lannett has also agreed to file a registration statement registering the shares. "The execution of this supply and distribution agreement has solidified our ongoing supply of the JSP products. The JSP line has become an integral part of our business. We have been successful in opening many new customer accounts with the JSP products. It was important for us to memorialize the business terms of the supply from JSP because of the importance of these products on our overall results of operations. We believe the investment made in this contract will benefit the Company and its shareholders, and CONFIDENTIAL TREATMENT REQUESTED BY LANNETT COMPANY, INC. assure Lannett of continued business growth and penetration in the generic drug industry", said Arthur Bedrosian, Lannett's President. "We value our relationship with Lannett and look forward to many more years together. We intend to hold the shares of Lannett common stock issued to us as an investment, as we believe in the long range growth and the future of the Company " said Jerry Steinlauf, JSP's President. Among the JSP products included in the agreement, Levothyroxine Sodium Tablets contributes the greatest amount to Lannett's sales, and has the strong potential to further increase Lannett's future sales. Levothyroxine Sodium Tablets are used to treat hypothyroidism and other thyroid disorders. It is one of the most prescribed drugs in the United States with over 13 million patients. With its distribution of this product, Lannett competes in a market which is currently controlled by 2 branded Levothyroxine Sodium tablet products--Abbott Laboratories' Synthroid(R), Monarch Pharmaceutical's Levoxyl(R). JSP's Unithroid(R) was the first FDA approved (August 2000) Levothyroxine Sodium Tablet formulation. Both Synthroid(R) and Levoxyl(R) were approved by the FDA in the following years. The U.S. market for Levothyroxine Sodium Tablets is estimated to be approximately $1.3 billion in annual sales. Currently, Synthroid(R) and Levoxyl(R) control the majority of this market. However, JSP has applied to the FDA, through supplements to its NDA, to approve its product's bioequivalence to both Synthroid(R) and Levoxyl(R). If the FDA approves JSP's supplemental applications, Lannett expects the sales of its marketed Levothyroxine product to increase, relative to the market size of the two dominant brands. Lannett's common stock trades on the American Stock Exchange under the symbol "LCI". For more information, please call Investor Relations at 215-333-9000. THIS PRESS RELEASE CONTAINS CERTAIN STATEMENTS OF A FORWARD-LOOKING NATURE RELATING TO FUTURE EVENTS OR FUTURE BUSINESS PERFORMANCE. ANY SUCH CONFIDENTIAL TREATMENT REQUESTED BY LANNETT COMPANY, INC. STATEMENTS THAT REFER TO LANNETT'S ESTIMATED OR ANTICIPATED FUTURE FINANCIAL RESULTS, FUTURE INVENTORY LEVELS, FUTURE COMPETITION OR PRICING, FUTURE LEVELS OF OPERATING EXPENSES, PRODUCT DEVELOPMENT EFFORTS OR PERFORMANCE, OR OTHER NON-HISTORICAL FACTS ARE FORWARD-LOOKING AND REFLECT LANNETT'S CURRENT PERSPECTIVE OF EXISTING TRENDS AND INFORMATION. THESE STATEMENTS INVOLVE RISKS AND UNCERTAINTIES THAT CANNOT BE PREDICTED OR QUANTIFIED AND, CONSEQUENTLY, ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. SUCH RISKS AND UNCERTAINTIES INCLUDE, AMONG OTHERS, THE UNCERTAINTY THAT ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THE PRELIMINARY RESULTS DESCRIBED IN THIS PRESS RELEASE, RATES OF SALE OF CUSTOMER INVENTORIES, THE SUCCESS OF LANNETT'S PRODUCT DEVELOPMENT ACTIVITIES AND THE TIMELINESS WITH WHICH REGULATORY AUTHORIZATIONS AND PRODUCT ROLL-OUT MAY BE ACHIEVED, MARKET ACCEPTANCE OF LANNETT'S PRODUCTS AND THE IMPACT OF COMPETITIVE PRODUCTS AND PRICING, THE AVAILABILITY ON COMMERCIALLY REASONABLE TERMS OF RAW MATERIALS AND OTHER THIRD PARTY SOURCED PRODUCTS, SUCCESSFUL COMPLIANCE WITH EXTENSIVE, COSTLY, COMPLEX AND EVOLVING GOVERNMENTAL REGULATIONS AND RESTRICTIONS, EXPOSURE TO PRODUCT LIABILITY AND OTHER LAWSUITS AND CONTINGENCIES, AND OTHER RISKS AND UNCERTAINTIES DETAILED IN LANNETT'S MOST RECENT FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION, INCLUDING BUT NOT LIMITED TO: LANNETT'S ANNUAL REPORT AND FORM 10-KSB FOR THE YEAR ENDED JUNE 30, 2003. ###
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1350593-000135059318000069-exhibit991-krauszacquisiti
EX-99.1 2 exhibit991-krauszacquisiti.htm EXHIBIT 99.1 Exhibit EXHIBIT 99.1 FOR IMMEDIATE RELEASE December 3, 2018 Mueller Water Products Announces Completion of Acquisition of Krausz Industries, Ltd. ATLANTA - December 3, 2018 Mueller Water Products, Inc. (NYSE: MWA) today announced that it has completed the previously announced purchase of Krausz Industries, Ltd. and certain affiliates for $140 million, subject to adjustments for acquired cash, a working capital true up, and other items. Additional details about the acquisition will be discussed during Mueller Water Products' first quarter earnings call. About Mueller Water Products Mueller Water Products, Inc. (NYSE:MWA) is a leading manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. Our broad product and service portfolio includes engineered valves, fire hydrants, metering products and systems, leak detection and pipe condition assessment. We help municipalities increase operational efficiencies, improve customer service and prioritize capital spending, demonstrating why Mueller Water Products is Where Intelligence Meets Infrastructure®. For more information about Mueller Water Products, visit www.muellerwaterproducts.com. Mueller refers to one or more of Mueller Water Products, Inc., a Delaware corporation ("MWP"), and its subsidiaries. MWP and each of its subsidiaries are legally separate and independent entities when providing products and services. MWP does not provide products or services to third parties. MWP and each of its subsidiaries are liable only for their own acts and omissions and not those of each other. MWP brands include Mueller®, Echologics®, Hydro Gate®, Hydro-Guard®, Jones®, Mi.Net®, Milliken®, Pratt®, Singer®, and U.S. Pipe Valve & Hydrant. Please see muellerwp.com/brands to learn more. Investor Contact: Whit Kincaid 770-206-4116 wkincaid@muellerwp.com Media Contact: Yolanda Kokayi 770-206-4131 ykokayi@muellerwp.com
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1537435-000153743517000074-ex991-tgenadgemergercomple
EX-99.1 2 ex991-tgenadgemergercomple.htm PRESS RELEASE Exhibit TECOGEN AND AMERICAN DG COMPLETE MERGER WALTHAM, MA (May 18, 2017)-Tecogen Inc. (Nasdaq: TGEN), ("Tecogen"), a leading manufacturer of clean energy products, and American DG Energy Inc., (NYSE MKT: ADGE), ("ADGE") an On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and fitness facilities, announced today that their respective stockholders have voted to approve the adoption of the amended merger agreement (the " Merger Agreement"), dated November 1, 2016, as subsequently amended, among Tecogen, ADGE and Tecogen.ADGE Acquisition Corp., a wholly-owned subsidiary of the Company ("Merger Sub"). Pursuant to the Merger Agreement, the Merger Sub will merge with and into ADGE, with ADGE as the surviving entity, and therefore ADGE will become a wholly-owned subsidiary of Tecogen (the "Merger"). Approximately 98.95% of the Tecogen shares present at Tecogen's Special Meeting of Stockholders voted in favor of the adoption of the Merger Agreement, which represented approximately 54.94% of Tecogen's total outstanding shares of common stock as of April 24, 2017, the record date. For ADGE, approximately 98.76% of the ADGE shares present at ADGE's Special Meeting of Stockholders voted in favor of the adoption of the Merger Agreement. The shares present represented approximately 70.92% of ADGE's total outstanding shares of common stock as of April 24, 2017, the record date. The Merger became effective today, May 18, 2017, approximately 4:00 P.M. EST. ADGE shareholders will receive notices from Continental Stock Transfer, Tecogen's exchange agent, regarding the process of exchanging their ADGE stock for shares of Tecogen common stock. About Tecogen Tecogen® Inc. designs, manufactures, markets, and maintains high efficiency, ultra-clean cogeneration products including natural gas engine-driven combined heat and power, air conditioning systems, and water heaters for residential, commercial, recreational and industrial use. Tecogen is known for cost efficient, environmentally friendly and reliable products for distributed power generation that, through patented technology, nearly eliminate criteria pollutants and significantly reduce a customer's carbon footprint. Tecogen's natural gas powered cogeneration systems (also known as combined heat and power or "CHP") are efficient because they drive electric generators or compressors, which reduce the amount of electricity purchased from the utility while recovering the engine's waste heat for water heating, space heating, and/or air conditioning at the customer's building. Tecogen manufactures three types of CHP products: Cogeneration units that supply electricity and hot water including the InVerde® 100, InVerde e+®, CM-75 and CM-60; Chillers that provide air-conditioning and hot water marketed under the TECOCHILL® brand name; and Ilios® branded high-efficiency water heaters. Tecogen's CHP products are sold directly to customers by our in-house marketing team, and by established sales agents and representatives, including ADGE. About American DG Energy ADGE installs, owns, operates and maintains complete distributed generation, or DG systems or energy systems, and other complementary systems at customer sites and sell electricity, hot water, heat and cooling energy under long-term contracts at prices guaranteed to the customer to be below conventional utility rates. As of December 31, 2016, ADGE had 92 installed energy systems, representing an aggregate of approximately 5,445 kilowatts, or kW, 41.6 million British thermal units, or MMBtu's, of heat and hot water and 4,500 tons of cooling. kW is a measure of electricity generated, MMBtu is a measure of heat generated and a ton is a measure of cooling generated. Tecogen Media & Investor Relations Contact Information: John N. Hatsopoulos P: (781) 622-1120 E: John.Hatsopoulos@Tecogen.com
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1041514-000106299308003850-exhibit99-1
EX-99.1 2 exhibit99-1.htm PRESS RELEASE DATED AUGUST 28, 2008 Filed by sedaredgar.com - Net1 UEPS Technologies Inc. - Exhibit 99.1 Exhibit 99.1 Net1 Announces Acquisition of BGS Smart Card Systems Johannesburg, South Africa (August 28, 2008) - Net 1 UEPS Technologies, Inc. ("Net1" or the "Company") (NASDAQ: UEPS) today announced that it has acquired 80.1% of BGS Smartcard Systems AG ("BGS"), an Austrian private company that provides smart card-based payment systems to banks, enterprises and government authorities in Russia, Ukraine, Uzbekistan, Mongolia, Vietnam, India and Oman. BGS' system, Dual Universal Electronic Transactions, or DUET, was developed by BGS as a derivative of the first version of Net1's UEPS technology that Net1 licensed to BGS in 1993. BGS' largest customer is Sberbank, the largest financial institution in Russia, which owns the remaining 19.9% of BGS. In the acquisition, Net1 paid the selling shareholders approximately €71.5 million in cash and issued certain shareholders an aggregate of 40,134 shares of Net1 common stock. Net1's management believes that the acquisition of BGS offers numerous potential strategic benefits, including the following: Increasing Net1's revenues from providing its financial services and value-added products to a new cardholder base. BGS has historically employed a business model which focused on selling its product offering into various countries. In contrast, Net1's service-based business model focuses on generating continuing revenues from its cardholder base through transaction-based fees, financial services and value-added products. Management believes that the geographical footprint of BGS is now large enough to allow Net1 to overlay its service-based model onto the various DUET systems operating in Russia and other countries, thereby creating new revenue streams for BGS and system operators. Enhancing Net1's product offering by leveraging technology platforms and IT development resources. Management believes that Net1's technological leadership in fields such as biometric identification and in the integration of its UEPS technology with GSM will allow Net1 to create new business opportunities for BGS such as national identification, voting and welfare distribution systems and cell phone-based payment solutions. Further, the addition of BGS' skilled human resources in the information technology area should greatly assist Net1 in the ongoing development of its technologies and maintenance of its existing systems. Increasing the depth of the management team with the addition of experienced executives. Leonid Delberg and Richard Schweger have led BGS since 1997 and have over 25 years of combined experience in the smart card industry. Messrs. Delberg and Schweger will continue as senior executives of BGS and oversee its expansion and integration with Net1. The Company believes that the expertise and experience of BGS' senior management will greatly assist Net1 in its global expansion initiatives. Accelerating the rollout of UEPS in Russia and other new territories. There is little geographical overlap in our and BGS' operations and thus, the acquisition offers Net1 the opportunity to establish relationships in countries where management believes there are exciting opportunities for the implementation of its technology but where Net1 has minimal current relationships. Management believes that having a local partner is important to the success of international implementation of Net1's systems. Thus, management further believes that Sberbank, through its leading market position in Russia, can offer Net1 its extensive business network to implement Net1's complete suite of products there and will be motivated to do so by virtue of its continued participation as a shareholder in BGS. "We are incredibly excited about the acquisition of BGS as it represents another significant milestone in the implementation of our international expansion strategy", said Dr. Serge Belamant, Net1's Chairman and Chief Executive Officer. "We can now introduce the UEPS and our full suite of products and services in Russia and other countries where we have not operated to date and provide all their citizens with access to a new range of financial products and services made possible by our UEPS technology. The addition of Leonid Delberg and Richard Schweger, with their many years of experience in the smart card payment industry, to our already talented management team will undoubtedly help us grow the business in these and other countries". Leonid Delberg, Chairman and CEO of BGS, added, "Net1, with its rich history of technological innovation, offers BGS a unique opportunity to expand the types of products and services that we can provide to our customers. We very much look forward to working with Serge and the rest of his team to capitalize on the synergies of our payment technologies". Net1 financed the cash portion of the purchase price of the BGS shares with the proceeds of bank financing which it expects to repay within the next several months from its cash reserves. The Company is in the process of listing its shares on the JSE Limited. The listing will result in the conversion into common stock of all of Net1's convertible preferred stock and will allow its main South African operating subsidiary to repay certain inter-company loans extended to it by Net 1 in connection with the 2004 Aplitec acquisition. The funds provided by the repayment of these loans will be used to repay the bank facility. About Net1 ( www.net1ueps.com ) Net1 provides its universal electronic payment system, or UEPS, as an alternative payment system for the unbanked and under-banked populations of developing economies. The company believes that it is the first company worldwide to implement a system that can enable the estimated four billion people who generally have limited or no access to a bank account to enter affordably into electronic transactions with each other, government agencies, employers, merchants and other financial service providers. To accomplish this, Net1 has developed and deployed the UEPS. This system uses secure smart cards that operate in real-time but offline, unlike traditional payment systems offered by major banking institutions that require immediate access through a communications network to a centralized computer. This offline capability means that users of Net1's system can enter into transactions at any time with other cardholders in even the most remote areas so long as a portable offline smart card reader is available. In addition to payments and purchases, Net1's system can be used for banking, health care management, international money transfers, voting and identification. Net1 also focuses on the development and provision of secure transaction technology, solutions and services. Its core competencies around secure online transaction processing, cryptography and integrated circuit card (chip/smart card) technologies are principally applied to electronic commerce transactions in the telecommunications, banking, retail, petroleum and utilities market sectors. These technologies form the cornerstones of the "trusted transactions" environment of Prism, a South African based subsidiary of the company, and provide the Company with the building blocks for developing secure end-to-end payment solutions. About BGS ( www.bgssmartcard.com ) BGS is an Austrian company whose core business consists of developing and integrating smart card-based offline and online financial transaction systems. Since 1993, BGS has implemented tailor-made smart card-based payment solutions, focusing on emerging economies and in cooperation with banks, enterprises and government authorities. BGS is headquartered in Vienna, Austria, and has subsidiaries in India and Russia, and a branch office in the Ukraine. Distributors are located in Asia, Central and South America, the Commonwealth of Independent States and the Middle East. BGS employs more than 100 people worldwide, including 75 staff members in the research and development and the technical division. BGS' approach is to offer its customers an adaptive and flexible turnkey solution which encompasses modular smart card and back-office solutions, hardware, consulting services, product customization and integration, installation, system implementation and technical support and training. Forward-Looking Statements This announcement contains forward-looking statements that involve known and unknown risks and uncertainties. A discussion of various factors that could cause the Company's actual results, levels of activity, performance or achievements to differ materially from those expressed in such forward-looking statements are included in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise any of these statements to reflect future circumstances or the occurrence of unanticipated events. Contact William Espley at Net1 Investor Relations at: Telephone: 1-604-484-8750 Toll Free: 1-866-412-NET1 (6381)
[ "EX", "-", "99", ".", "1", "2", "exhibit99", "-", "1", ".", "htm", "PRESS", "RELEASE", "DATED", "AUGUST", "28", ",", "2008", "Filed", "by", "sedaredgar.com", "-", "Net1", "UEPS", "Technologies", "Inc", ".", "-", "Exhibit", "99", ".", "1", "Exhibit", "99", ".", "1", "Net1", "Announces", "Acquisition", "of", "BGS", "Smart", "Card", "Systems", "Johannesburg", ",", "South", "Africa", "(", "August", "28", ",", "2008", ")", "-", "Net", "1", "UEPS", "Technologies", ",", "Inc", ".", "(", "\"", "Net1", "\"", "or", "the", "\"", "Company", "\"", ")", "(", "NASDAQ", ":", "UEPS", ")", "today", "announced", "that", "it", "has", "acquired", "80", ".", "1", "%", "of", "BGS", "Smartcard", "Systems", "AG", "(", "\"", "BGS", "\"", ")", ",", "an", "Austrian", "private", "company", "that", "provides", "smart", "card", "-", "based", "payment", "systems", "to", "banks", ",", "enterprises", "and", "government", "authorities", "in", "Russia", ",", "Ukraine", ",", "Uzbekistan", ",", "Mongolia", ",", "Vietnam", ",", "India", "and", "Oman", ".", "BGS", "'", "system", ",", "Dual", "Universal", "Electronic", "Transactions", ",", "or", "DUET", ",", "was", "developed", "by", "BGS", "as", "a", "derivative", "of", "the", "first", "version", "of", "Net1", "'s", "UEPS", "technology", "that", "Net1", "licensed", "to", "BGS", "in", "1993", ".", "BGS", "'", "largest", "customer", "is", "Sberbank", ",", "the", "largest", "financial", "institution", "in", "Russia", ",", "which", "owns", "the", "remaining", "19", ".", "9", "%", "of", "BGS", ".", "In", "the", "acquisition", ",", "Net1", "paid", "the", "selling", "shareholders", "approximately", "€", "71.5 million", "in", "cash", "and", "issued", "certain", "shareholders", "an", "aggregate", "of", "40,134", "shares", "of", "Net1", "common", "stock", ".", "Net1", "'s", "management", "believes", "that", "the", "acquisition", "of", "BGS", "offers", "numerous", "potential", "strategic", "benefits", ",", "including", "the", "following", ":", "Increasing", "Net1", "'s", "revenues", "from", "providing", "its", "financial", "services", "and", "value", "-", "added", "products", "to", "a", "new", "cardholder", "base", ".", "BGS", "has", "historically", "employed", "a", "business", "model", "which", "focused", "on", "selling", "its", "product", "offering", "into", "various", "countries", ".", "In", "contrast", ",", "Net1", "'s", "service", "-", "based", "business", "model", "focuses", "on", "generating", "continuing", "revenues", "from", "its", "cardholder", "base", "through", "transaction", "-", "based", "fees", ",", "financial", "services", "and", "value", "-", "added", "products", ".", "Management", "believes", "that", "the", "geographical", "footprint", "of", "BGS", "is", "now", "large", "enough", "to", "allow", "Net1", "to", "overlay", "its", "service", "-", "based", "model", "onto", "the", "various", "DUET", "systems", "operating", "in", "Russia", "and", "other", "countries", ",", "thereby", "creating", "new", "revenue", "streams", "for", "BGS", "and", "system", "operators", ".", "Enhancing", "Net1", "'s", "product", "offering", "by", "leveraging", "technology", "platforms", "and", "IT", "development", "resources", ".", "Management", "believes", "that", "Net1", "'s", "technological", "leadership", "in", "fields", "such", "as", "biometric", "identification", "and", "in", "the", "integration", "of", "its", "UEPS", "technology", "with", "GSM", "will", "allow", "Net1", "to", "create", "new", "business", "opportunities", "for", "BGS", "such", "as", "national", "identification", ",", "voting", "and", "welfare", "distribution", "systems", "and", "cell", "phone", "-", "based", "payment", "solutions", ".", "Further", ",", "the", "addition", "of", "BGS", "'", "skilled", "human", "resources", "in", "the", "information", "technology", "area", "should", "greatly", "assist", "Net1", "in", "the", "ongoing", "development", "of", "its", "technologies", "and", "maintenance", "of", "its", "existing", "systems", ".", "Increasing", "the", "depth", "of", "the", "management", "team", "with", "the", "addition", "of", "experienced", "executives", ".", "Leonid", "Delberg", "and", "Richard", "Schweger", "have", "led", "BGS", "since", "1997", "and", "have", "over", "25", "years", "of", "combined", "experience", "in", "the", "smart", "card", "industry", ".", "Messrs", ".", "Delberg", "and", "Schweger", "will", "continue", "as", "senior", "executives", "of", "BGS", "and", "oversee", "its", "expansion", "and", "integration", "with", "Net1", ".", "The", "Company", "believes", "that", "the", "expertise", "and", "experience", "of", "BGS", "'", "senior", "management", "will", "greatly", "assist", "Net1", "in", "its", "global", "expansion", "initiatives", ".", "Accelerating", "the", "rollout", "of", "UEPS", "in", "Russia", "and", "other", "new", "territories", ".", "There", "is", "little", "geographical", "overlap", "in", "our", "and", "BGS", "'", "operations", "and", "thus", ",", "the", "acquisition", "offers", "Net1", "the", "opportunity", "to", "establish", "relationships", "in", "countries", "where", "management", "believes", "there", "are", "exciting", "opportunities", "for", "the", "implementation", "of", "its", "technology", "but", "where", "Net1", "has", "minimal", "current", "relationships", ".", "Management", "believes", "that", "having", "a", "local", "partner", "is", "important", "to", "the", "success", "of", "international", "implementation", "of", "Net1", "'s", "systems", ".", "Thus", ",", "management", "further", "believes", "that", "Sberbank", ",", "through", "its", "leading", "market", "position", "in", "Russia", ",", "can", "offer", "Net1", "its", "extensive", "business", "network", "to", "implement", "Net1", "'s", "complete", "suite", "of", "products", "there", "and", "will", "be", "motivated", "to", "do", "so", "by", "virtue", "of", "its", "continued", "participation", "as", "a", "shareholder", "in", "BGS", ".", "\"", "We", "are", "incredibly", "excited", "about", "the", "acquisition", "of", "BGS", "as", "it", "represents", "another", "significant", "milestone", "in", "the", "implementation", "of", "our", "international", "expansion", "strategy", "\"", ",", "said", "Dr", ".", "Serge", "Belamant", ",", "Net1", "'s", "Chairman", "and", "Chief", "Executive", "Officer", ".", "\"", "We", "can", "now", "introduce", "the", "UEPS", "and", "our", "full", "suite", "of", "products", "and", "services", "in", "Russia", "and", "other", "countries", "where", "we", "have", "not", "operated", "to", "date", "and", "provide", "all", "their", "citizens", "with", "access", "to", "a", "new", "range", "of", "financial", "products", "and", "services", "made", "possible", "by", "our", "UEPS", "technology", ".", "The", "addition", "of", "Leonid", "Delberg", "and", "Richard", "Schweger", ",", "with", "their", "many", "years", "of", "experience", "in", "the", "smart", "card", "payment", "industry", ",", "to", "our", "already", "talented", "management", "team", "will", "undoubtedly", "help", "us", "grow", "the", "business", "in", "these", "and", "other", "countries", "\"", ".", "Leonid", "Delberg", ",", "Chairman", "and", "CEO", "of", "BGS", ",", "added", ",", "\"", "Net1", ",", "with", "its", "rich", "history", "of", "technological", "innovation", ",", "offers", "BGS", "a", "unique", "opportunity", "to", "expand", "the", "types", "of", "products", "and", "services", "that", "we", "can", "provide", "to", "our", "customers", ".", "We", "very", "much", "look", "forward", "to", "working", "with", "Serge", "and", "the", "rest", "of", "his", "team", "to", "capitalize", "on", "the", "synergies", "of", "our", "payment", "technologies", "\"", ".", "Net1", "financed", "the", "cash", "portion", "of", "the", "purchase", "price", "of", "the", "BGS", "shares", "with", "the", "proceeds", "of", "bank", "financing", "which", "it", "expects", "to", "repay", "within", "the", "next", "several", "months", "from", "its", "cash", "reserves", ".", "The", "Company", "is", "in", "the", "process", "of", "listing", "its", "shares", "on", "the", "JSE", "Limited", ".", "The", "listing", "will", "result", "in", "the", "conversion", "into", "common", "stock", "of", "all", "of", "Net1", "'s", "convertible", "preferred", "stock", "and", "will", "allow", "its", "main", "South", "African", "operating", "subsidiary", "to", "repay", "certain", "inter", "-", "company", "loans", "extended", "to", "it", "by", "Net", "1", "in", "connection", "with", "the", "2004", "Aplitec", "acquisition", ".", "The", "funds", "provided", "by", "the", "repayment", "of", "these", "loans", "will", "be", "used", "to", "repay", "the", "bank", "facility", ".", "About", "Net1", "(", "www.net1ueps.com", ")", "Net1", "provides", "its", "universal", "electronic", "payment", "system", ",", "or", "UEPS", ",", "as", "an", "alternative", "payment", "system", "for", "the", "unbanked", "and", "under", "-", "banked", "populations", "of", "developing", "economies", ".", "The", "company", "believes", "that", "it", "is", "the", "first", "company", "worldwide", "to", "implement", "a", "system", "that", "can", "enable", "the", "estimated", "four", "billion", "people", "who", "generally", "have", "limited", "or", "no", "access", "to", "a", "bank", "account", "to", "enter", "affordably", "into", "electronic", "transactions", "with", "each", "other", ",", "government", "agencies", ",", "employers", ",", "merchants", "and", "other", "financial", "service", "providers", ".", "To", "accomplish", "this", ",", "Net1", "has", "developed", "and", "deployed", "the", "UEPS", ".", "This", "system", "uses", "secure", "smart", "cards", "that", "operate", "in", "real", "-", "time", "but", "offline", ",", "unlike", "traditional", "payment", "systems", "offered", "by", "major", "banking", "institutions", "that", "require", "immediate", "access", "through", "a", "communications", "network", "to", "a", "centralized", "computer", ".", "This", "offline", "capability", "means", "that", "users", "of", "Net1", "'s", "system", "can", "enter", "into", "transactions", "at", "any", "time", "with", "other", "cardholders", "in", "even", "the", "most", "remote", "areas", "so", "long", "as", "a", "portable", "offline", "smart", "card", "reader", "is", "available", ".", "In", "addition", "to", "payments", "and", "purchases", ",", "Net1", "'s", "system", "can", "be", "used", "for", "banking", ",", "health", "care", "management", ",", "international", "money", "transfers", ",", "voting", "and", "identification", ".", "Net1", "also", "focuses", "on", "the", "development", "and", "provision", "of", "secure", "transaction", "technology", ",", "solutions", "and", "services", ".", "Its", "core", "competencies", "around", "secure", "online", "transaction", "processing", ",", "cryptography", "and", "integrated", "circuit", "card", "(", "chip", "/", "smart", "card", ")", "technologies", "are", "principally", "applied", "to", "electronic", "commerce", "transactions", "in", "the", "telecommunications", ",", "banking", ",", "retail", ",", "petroleum", "and", "utilities", "market", "sectors", ".", "These", "technologies", "form", "the", "cornerstones", "of", "the", "\"", "trusted", "transactions", "\"", "environment", "of", "Prism", ",", "a", "South", "African", "based", "subsidiary", "of", "the", "company", ",", "and", "provide", "the", "Company", "with", "the", "building", "blocks", "for", "developing", "secure", "end", "-", "to", "-", "end", "payment", "solutions", ".", "About", "BGS", "(", "www.bgssmartcard.com", ")", "BGS", "is", "an", "Austrian", "company", "whose", "core", "business", "consists", "of", "developing", "and", "integrating", "smart", "card", "-", "based", "offline", "and", "online", "financial", "transaction", "systems", ".", "Since", "1993", ",", "BGS", "has", "implemented", "tailor", "-", "made", "smart", "card", "-", "based", "payment", "solutions", ",", "focusing", "on", "emerging", "economies", "and", "in", "cooperation", "with", "banks", ",", "enterprises", "and", "government", "authorities", ".", "BGS", "is", "headquartered", "in", "Vienna", ",", "Austria", ",", "and", "has", "subsidiaries", "in", "India", "and", "Russia", ",", "and", "a", "branch", "office", "in", "the", "Ukraine", ".", "Distributors", "are", "located", "in", "Asia", ",", "Central", "and", "South", "America", ",", "the", "Commonwealth", "of", "Independent", "States", "and", "the", "Middle", "East", ".", "BGS", "employs", "more", "than", "100", "people", "worldwide", ",", "including", "75", "staff", "members", "in", "the", "research", "and", "development", "and", "the", "technical", "division", ".", "BGS", "'", "approach", "is", "to", "offer", "its", "customers", "an", "adaptive", "and", "flexible", "turnkey", "solution", "which", "encompasses", "modular", "smart", "card", "and", "back", "-", "office", "solutions", ",", "hardware", ",", "consulting", "services", ",", "product", "customization", "and", "integration", ",", "installation", ",", "system", "implementation", "and", "technical", "support", "and", "training", ".", "Forward", "-", "Looking", "Statements", "This", "announcement", "contains", "forward", "-", "looking", "statements", "that", "involve", "known", "and", "unknown", "risks", "and", "uncertainties", ".", "A", "discussion", "of", "various", "factors", "that", "could", "cause", "the", "Company", "'s", "actual", "results", ",", "levels", "of", "activity", ",", "performance", "or", "achievements", "to", "differ", "materially", "from", "those", "expressed", "in", "such", "forward", "-", "looking", "statements", "are", "included", "in", "the", "Company", "'s", "filings", "with", "the", "Securities", "and", "Exchange", "Commission", ".", "The", "Company", "undertakes", "no", "obligation", "to", "revise", "any", "of", "these", "statements", "to", "reflect", "future", "circumstances", "or", "the", "occurrence", "of", "unanticipated", "events", ".", "Contact", "William", "Espley", "at", "Net1", "Investor", "Relations", "at", ":", "Telephone", 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1361983-000119312521262764-d184873dex991
EX-99.1 4 d184873dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 ORBCOMM ANNOUNCES COMPLETION OF ACQUISITION BY GI PARTNERS Transaction well-positions Company to continue driving innovation and long-term strategic growth in the industrial IoT Rochelle Park, NJ, September 1, 2021 - ORBCOMM Inc., a global provider of Internet of Things (IoT) solutions, today announced the completion of its acquisition by GI Partners, a leading US-based private investment management firm, in an all-cash transaction that values ORBCOMM at approximately $1.1 billion, including net debt. Under the terms of the transaction, which was announced on April 8, 2021, ORBCOMM stockholders will receive $11.50 in cash per outstanding share of common stock, representing a premium of approximately 52% to ORBCOMM's closing share price on April 7th and a 50% premium over the 90-day volume-weighted average share price through that date. The transaction was approved by ORBCOMM stockholders on July 8, 2021. Effective today, ORBCOMM is a privately-held company, and its common stock is no longer listed on the Nasdaq Stock Market. "ORBCOMM's partnership with GI Partners represents an exciting new chapter for the Company's continued leadership in the industrial IoT," said Marc Eisenberg, ORBCOMM's Chief Executive Officer. "As a privately held company, we will have the resources and flexibility to accelerate growth by enhancing our operations, fast-tracking innovation, entering new markets, and focusing on customer success". "ORBCOMM's best-in-class IoT solutions are integral to some of the world's largest enterprises, and we are confident that our strategic investments will build on the Company's impressive market position and help them achieve the pivotal next phase of growth," said Mark Prybutok, Managing Director of GI Partners. "GI Partners and ORBCOMM are aligned on our go-forward strategy, and we will hit the ground running with Marc and the ORBCOMM team on the significant value-creation opportunities we have identified to drive growth and innovation in high-potential IoT markets", said Brendan Scollans, Managing Director of GI Partners. PJT Partners and Raymond James served as financial advisors to ORBCOMM, and Milbank LLP served as legal counsel. Evercore served as financial advisor to GI Partners, and Simpson Thacher & Bartlett LLP and Morgan, Lewis & Bockius LLP served as legal counsel. About ORBCOMM Inc. ORBCOMM is a global leader and innovator in the industrial Internet of Things, providing solutions that connect businesses to their assets to deliver increased visibility and operational efficiency. The company offers a broad set of asset monitoring and control solutions, including seamless satellite and cellular connectivity, unique hardware and powerful applications, all backed by end-to-end customer support, from installation to deployment to customer care. ORBCOMM has a diverse customer base including premier OEMs, solutions customers and channel partners spanning transportation, supply chain, warehousing and inventory, heavy equipment, maritime, natural resources, and government. For more information, visit www.orbcomm.com . You can also connect with ORBCOMM at https://blog.orbcomm.com , on Twitter at @ORBCOMM_Inc, at https://www.linkedin.com/company/orbcomm or https://www.youtube.com/c/ORBCOMM_Inc . About GI Partners Founded in 2001, GI Partners is a private investment firm based in San Francisco, California. The firm has raised over $28 billion in capital from leading institutional investors around the world to invest in its private equity, real estate, and data infrastructure strategies. The private equity team invests primarily in companies in the Healthcare, IT Infrastructure, Services, and Software sectors. The real estate team invests across a broad range of platforms and strategies. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information on GI Partners and its portfolio, please visit www.gipartners.com . ORBCOMM Contacts For Corporate Relations: For Trade Media: Michelle Ferris Sue Rutherford Senior Director of Corporate Communications VP of Marketing +1 703.462.3894 +1 613.290.1169 ferris.michelle@orbcomm.com rutherford.sue@orbcomm.com investorrelations@orbcomm.com mediarelations@orbcomm.com GI Partners Media Contacts Chris Tofalli Gretchen Robinson Chris Tofalli Public Relations LLC GI Partners Chris@tofallipr.com grobinson@gipartners.com
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1408146-000106299317004403-exhibit99-1
EX-99.1 2 exhibit99-1.htm EXHIBIT 99.1 Scandium International Mining Corp.: Exhibit 99.1 - Filed by newsfilecorp.com NEWS RELEASE TSX: SCY October 10, 2017 NR 17-8 www.scandiummining.com SCANDIUM INTERNATIONAL CLOSES SHARE EXCHANGE TRANSACTION WITH SCANDIUM INVESTMENTS LLC. Reno, Nevada, October 10, 2017 - Scandium International Mining Corp . ( TSX:SCY ) ("Scandium International" or the "Company" ) is pleased to announce that it has closed the share exchange transaction with Scandium Investments LLC ("SIL"), as approved by the SCY shareholders at a Special Meeting on September 11, 2017, and as a result, has acquired the 20% interest in EMC Metals Australia Pty Ltd ("EMC-A") previously held by SIL. The Company now holds 100% ownership of EMC-A, which is the Company's Australian subsidiary that holds a 100% interest in both the Nyngan and Honeybugle Scandium Projects, located in New South Wales, Australia. Pursuant to the share exchange transaction, the Company issued SIL 57,371,565 common shares of the Company in return for acquiring SIL's share interest in EMC-A. These newly issued common shares represent 20% of the total issued common shares of the Company, on a post-transaction basis. HIGHLIGHTS: SCY exchanged 57,371,565 common shares to secure a 100% interest in the Nyngan and Honeybugle scandium projects in NSW, Australia, SIL exchanged their 20% direct project stake for a 20% SCY common share interest, Transaction considered non-dilutive to existing SCY shareholders, SIL becomes the largest single Company shareholder, and Two members of SIL, Peter Evensen and R. Christian Evensen, join the SCY Board as board members immediately. Ownership of 100% of the Company's scandium projects provides significant advantages for the development of the Nyngan Scandium Project. In particular, SIL and the Company agreed that consolidating 100% ownership of Nyngan and Honeybugle would potentially allow for a wider array of project financing structures at either EMC-A or individual project level, and would optimize the cost of capital for the Nyngan Scandium Project. In connection with the transaction, SIL nominees Mr. Peter Evensen and Mr. R. Christian Evensen have been appointed to the Company's Board of Directors. As Board members, Peter and Chris Evensen can contribute their funding expertise more directly and effectively to the entire project, fully aligning the interests of SIL and the Company, benefiting the development program, and in turn benefiting all Company shareholders. Pursuant to the transaction, the Company also issued 1,459,080 common shares to SIL, as an adjustment payment for the 20% portion of a revenue-based royalty on Nyngan/Honeybugle that was excluded from SIL's share in the project interests. George Putnam, CEO of Scandium International Mining Corp. commented: " On behalf of the entire SCY Board, we welcome Peter and Chris to the team, and look forward to their contributions towards our goal of building the first-ever primary scandium mine at Nyngan. We firmly believe in the value of this project and the exciting possibilities we have to deliver significant volumes of scandium product to waiting global markets". SIL's Report on Ownership of Shares of the Company On October 10, 2017, pursuant to the transaction, in accordance with Canadian regulatory requirements, SIL reports that it acquired an aggregate of 58,830,645 common shares of the Company, representing approximately 20.4% of the issued and outstanding common shares of the Company. Of those shares, a total of 57,371,565 shares were issued at a price of $0. 34 per share, for a total deemed value of C$19,506,332.10 and 1,459,080 common shares were issued at a price of $0.35 per share, for a total deemed value of C$510,678. Immediately prior to the foregoing acquisition, SIL owned and/or had control over 3,549,160 common shares of the Company. As a result of the foregoing acquisition, SIL owns and/or has control over 62,379,805 common shares of the Company, representing approximately 21.4% of the total issued and outstanding common shares of the Company. This represents a 1657% change in SIL's ownership of common shares. SIL does not own or have any control over any warrants of the Company. SIL acquired the securities in connection with a transaction between the Company, SIL and EMC Australia Pty Ltd., as disclosed in the information circular of the Company dated August 4, 2017, and has no present intention to dispose of or acquire further securities of the Company. SIL may, in the future, participate in financings and/or acquire or dispose of securities of the Company in the market, privately or otherwise, as circumstances or market conditions warrant. ABOUT SCANDIUM INTERNATIONAL MINING CORP. The Company is focused on developing its Nyngan Scandium Project, located in NSW, Australia, into the world's first scandium-only producing mine. The project has received all key approvals, including a mining lease, necessary to proceed with project construction. The Company filed a NI 43-101 technical report in May 2016, titled "Feasibility Study - Nyngan Scandium Project" . That feasibility study delivered an expanded scandium resource, a first reserve figure, and an estimated 33.1% IRR on the project, supported by extensive metallurgical test work and an independent, 10-year global marketing outlook for scandium demand. For inquiries to Scandium International Mining Corp, please contact: Edward Dickinson Tel: (775) 233-7328 Email: info@scandiummining.com This press release contains forward-looking statements about the Company and its business. Forward looking statements are statements that are not historical facts and include, but are not limited to statements regarding any future development of the project. The forward-looking statements in this press release are subject to various risks, uncertainties and other factors that could cause the Company's actual results or achievements to differ materially from those expressed in or implied by forward looking statements. These risks, uncertainties and other factors include, without limitation risks related to the availability of financing project development, demand for scandium, the contributions of new directors; uncertainties associated with the results of production as described in the feasibility study; and other factors identified in the Company's SEC filings and its filings with Canadian securities regulatory authorities. Forward-looking statements are based on the beliefs, opinions and expectations of the Company's management at the time they are made, and other than as required by applicable securities laws, the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change.
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",", "and", "as", "a", "result", ",", "has", "acquired", "the", "20", "%", "interest", "in", "EMC", "Metals", "Australia", "Pty", "Ltd", "(", "\"", "EMC", "-", "A", "\"", ")", "previously", "held", "by", "SIL", ".", "The", "Company", "now", "holds", "100", "%", "ownership", "of", "EMC", "-", "A", ",", "which", "is", "the", "Company", "'s", "Australian", "subsidiary", "that", "holds", "a", "100", "%", "interest", "in", "both", "the", "Nyngan", "and", "Honeybugle", "Scandium", "Projects", ",", "located", "in", "New", "South", "Wales", ",", "Australia", ".", "Pursuant", "to", "the", "share", "exchange", "transaction", ",", "the", "Company", "issued", "SIL", "57,371,565", "common", "shares", "of", "the", "Company", "in", "return", "for", "acquiring", "SIL", "'s", "share", "interest", "in", "EMC", "-", "A", ".", "These", "newly", "issued", "common", "shares", "represent", "20", "%", "of", "the", "total", "issued", "common", "shares", "of", "the", "Company", ",", "on", "a", "post", "-", 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