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FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORERule 8.3 of the Takeover Code (the “Code”) 1. KEY INFORMATION (a) Full name of discloser:Investec Wealth & Investment(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named. N/A(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree Idox Plc(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:N/A(e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure26th February 2021(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state “N/A”NO 2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security. (a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any) Class of relevant security: InterestsShort positionsNumber%Number%(1) Relevant securities owned and/or controlled:8,186,9881.85% (2) Cash-settled derivatives: (3) Stock-settled derivatives (including options) and agreements to purchase/sell: TOTAL:8,186,9881.85% All interests and all short positions should be disclosed. Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions). (b) Rights to subscribe for new securities (including directors’ and other employee options) Class of relevant security in relation to which subscription right exists: Details, including nature of the rights concerned and relevant percentages: 3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in. The currency of all prices and other monetary amounts should be stated. (a) Purchases and sales Class of relevant securityPurchase/sale Number of securitiesPrice per unit Ordinary Shares Sale 364,000 71.2p (b) Cash-settled derivative transactions Class of relevant securityProduct descriptione.g. CFDNature of dealinge.g. opening/closing a long/short position, increasing/reducing a long/short positionNumber of reference securitiesPrice per unit (c) Stock-settled derivative transactions (including options) (i) Writing, selling, purchasing or varying Class of relevant securityProduct description e.g. call optionWriting, purchasing, selling, varying etc.Number of securities to which option relatesExercise price per unitTypee.g. American, European etc.Expiry dateOption money paid/ received per unit (ii) Exercise Class of relevant securityProduct descriptione.g. call optionExercising/ exercised againstNumber of securitiesExercise price per unit (d) Other dealings (including subscribing for new securities) Class of relevant securityNature of dealinge.g. subscription, conversionDetailsPrice per unit (if applicable) 4. OTHER INFORMATION (a) Indemnity and other dealing arrangements Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none” N/A (b) Agreements, arrangements or understandings relating to options or derivatives Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:(i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:If there are no such agreements, arrangements or understandings, state “none” N/A (c) Attachments Is a Supplemental Form 8 (Open Positions) attached?NO Date of disclosure:1st March 2021 Contact name:Phil Beardwell Chartered FCSITelephone number:020 7597 1356 Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@disclosure.org.uk. The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129. The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.
EXCLUSIVE: Ampersand Fiction, the TV drama wing of Paris-based sales company Ampersand, is teaming with Russia’s 1-2-3 Production and GPM Entertainment Television to handle international distribution on crime thriller series The Dead Lake, which was a hit for Netflix in 2020. Directed by Roman Prygunov (Dukhless) and written by Roman Kantor, the scriptwriter behind the Netflix […]
Iranian lawmakers on Monday visited an impoverished southeastern province that has been roiled by recent unrest, state-run media reported, the government's most visible step yet to address rising popular resentment in the region. Five members of parliament, including from the influential committee for national security and foreign policy, arrived in the province of Sistan and Baluchestan to investigate the turmoil, state-run IRNA news agency reported. Last week, border guards shot at fuel smugglers trying to cross into Iran from Pakistan, killing at least two and sparking protests across the city of Saravan.
Asensus Surgical, Inc. (NYSE American: TRXC) (formerly TransEnterix, Inc.), a medical device company that is digitizing the interface between the surgeon and patient to pioneer a new era of Performance-Guided Surgery, announced today that Anthony Fernando, President and Chief Executive Officer, and Shameze Rampertab, Executive Vice President and Chief Financial Officer, will participate in the H.C. Wainwright Virtual Global Life Sciences Conference taking place March 9 and March 10, 2021.
KX Jin explains Facebook's strategy of promoting accurate information about the pandemic and removing debunked claims.
Hyperscale datacenters can be termed as a facility owned by the companies to offer cloud spaces for cloud computing and big data storage. It has at least 500 storage cabinets covering 10,000 Sq. Ft of space and has over 5,000 servers conected with an ultra-high-speed fiber network and offers with infrastructural cost to the end-user.New York, March 01, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hyperscale Datacenter Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06028501/?utm_source=GNW - Data in the recent past was considered as the foundation of an emerging economy. Almost all enterprises are using more data than what they did before and will probably consume even more data in the future. This rapidly increasing generation of data has to be stored and accessed from somewhere.- This reality has driven the rise of hyperscale data centers, which are a super-sized version of the mission-critical facilities that consist of the servers powering the Internet. Increasing cloud workloads have influenced companies like Amazon Web Services, Google, Microsoft, Facebook, and Apple to invest huge sums, around USD 1 billion to USD 3 billion, in a single campus to bring out the utmost efficiency.- The upsurge of hyperscale computing is all about businesses and their association with their data and IT operations. Companies/enterprises do not want to spend millions of dollars to build and operate a data center.- Some of the key drivers that are directly influencing the hyperscale data center growth are cloud computing, software platforms, social media, and content delivery. Social media has evolved to be a powerful tool, with over 2.28 billion users worldwide, generating volumes of data in the form of blogs, tweets, updates, images, and videos.- According to Cisco Systems, the global IP data traffic increased from 96,054 petabytes per month in 2016 to 150,910 petabytes per month in 2018 and is anticipated to reach 278,108 petabytes per month by 2021.- Further, the growing volume of Big Data across the business eco-system is gaining maturity. A recent study by Accenture in May 2018 stated that 79% of enterprise executives agreed that companies that do not embrace Big Data would lose their competitive position and are expected to face extinction. Currently, 83% of enterprises pursue Big Data projects to seize a competitive edge.- The emergence of Data-as-a-Service (DaaS) is also an indication of the increasing penetration of data across end users, an area still in the early stages of formalization, according to Oracle. Also, the number of data providers, particularly in web-sourced data, is constantly increasing, adding to the growth of the market.Key Market TrendsEnterprises to Hold Major Share- In recent times, workloads in large enterprises are being consolidated into larger and more efficient facilities, and it has become commonplace for hyperscale companies like Amazon Web Services, Google, Facebook, Microsoft, and Apple to invest USD 1 billion to USD 3 billion in a single campus.- This trend is part of the larger densification of America’s IT infrastructure, which will include data centers in many new and unexpected places.- The upsurge of hyperscale computing is all about businesses and their association with their data and IT operations. Enterprises do not want to spend millions of dollars to build and operate a data center.- Further, the growing volume of Big Data across the business eco-system is gaining maturity. A recent study by Accenture in May 2018 stated that 79% of enterprise executives agreed that companies that do not embrace Big Data would lose their competitive position and are expected to face extinction. Currently, 83% of enterprises pursue Big Data projects to seize a competitive edge. This has increased the demand for hyperscale data centers among the enterprises.United States to Dominate the Market- The United States has continued its growth in data center infrastructure solutions. Modular data center investments in tier-2 cities is expected to drive the installation of center facilities, especially for local users, which is driving the growth of the data center cooling market.- In the United States, the rate of adoption of cloud-based computing is rapidly increasing, owing to which, data centers are increasing in the country. According to Credit Suisse, the United States accounts for the highest number of hyperscale data centers worldwide, by holding about 40% in the country.- Several efforts have been made by the United States to modernize its infrastructure. In a plan to achieve this, the US Army is planning to spend up to USD 249 million to deploy private cloud computing services and data centers. General Dynamics HP and Northrop Grumman are among the service providers selected for the Army Private Cloud contract, which will provide cloud computing services to consolidate data centers using a secure private cloud.- Businesses in the United States stand to benefit from the data centers because fir purposes of the US Federal Communications Commission compliance certification, the data center is considered one unit (rather than several discrete systems). This will result in cost benefits and convenience, thereby lessening the burden on users.- The United States is home to many tech giants, such as Apple, Amazon, Microsoft, and Facebook, offering hyperscale data centers. Also, the volume of Big Data is tremendously increasing; moreover, companies are adopting new strategies to ascend several data centers.- The companies in the country are extensively investing in AI infrastructure, which demands the need for immediate processing of vast amounts of data being acquired on a real-time basis. Also, the governments in the region are taking initiatives to adopt upcoming technologies. In February 2019, the US government announced the Artificial Intelligence Initiative to prioritize AI investments in research and development, increase access to federal data and models for that research, and prepare workers to adapt to the era of AI.Competitive LandscapeThe market for hyperscale datacenters is highly consolidated because of the dominance by a few key companies in the market. Also, the barrier for new entrants is high due to the requirement of the high initial cost to enter into the market. These are companies that are continuously investing in making strategic partnership and acquisition to gain more market share. Some of the recent developments by the companies are listed below.- January 2020- Microsoft Corporation announced a partnership with AT&T for enabling next-generation solutions on the edge. The partnership is aimed at enabling new 5G, cloud, and edge computing solutions to drive enterprise capabilities for companies around the world.- September 2019 - EdgeConneX, a data center solution provider, declared a partnership with Lume to leverage its Cloud Anyware services. The partnership enables the company to accomplish goals like bringing its cloud solutions to the Edge, local and highly proximate to its enterprise customers.Reasons to Purchase this report:- The market estimate (ME) sheet in Excel format- 3 months of analyst supportRead the full report: https://www.reportlinker.com/p06028501/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________ CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001
Futures rose solidly. The stock market rally faces a big test after heavy losses last week. Here's what investors should be doing now.
Dublin, March 01, 2021 (GLOBE NEWSWIRE) -- The "5G IoT Market Share, Size, Trends, Industry Analysis Report, By Radio Technology; By Range; By Vertical; By Regions; Segment Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering. The global 5G IoT market size is expected to reach USD 11.35 billion by 20275G network provides a smooth communication and networking functions and works under a wireless high-frequency technology. In addition, the technology provides an advanced, improved flexibility of wireless services, higher network speed, and reduced latency. IoT devices such as wireless sensors, computer devices, software, actuators, and others largely depend on prompt communication and data transfer services, which is provided through this technology.Moreover, it offers improved flexibility of wireless services and are largely dependent on instant communication & data transfer provided through 5G technology. It plays a vital role in the evolution of communication as well as in the businesses and society in the market. For instance, in order to obtain measurements from a boiler or other equipment in manufacturing industry, 5G IoT offers ultra-reliable communications for several time-sensitive communications processes.Increased demand for manufacturing & adoption of this technology will not only provide reliable networks but also deliver fantastic secure connection for Industrial IoT by assimilating security into the network architecture. Moreover, factors such as rise in demand for processing of collected data via sensors, analyzing, and real-time tracking of business operations & other activities across several industrial sectors are some of the other factors fueling the market growth. Furthermore, with providing backing operations that require real-time access to data changes instantly and increased demand for ultra-low latency from numerous sectors are some of the factors driving the market growth.However, lack of research and innovation and high upfront costs for infrastructural establishment are limiting the market growth. On the contrary, consumer landscape and changing business environment are expected to provide lucrative opportunities to the global market in the upcoming years. For instance, in 2019, Microsoft has announced a partnership with AT&T, which is a multinational conglomerate holding company in order to unlock 5G scenarios via its Azure Edge Zones. In addition, the partnership aimed at operating and extending its service using 5G and LTE networks. The Azure Private Edge Zones solutions helps in providing high-security applications such as factory IoT & robotics management, private smart grid for hospitals, among others.Market participants such as Anritsu, AT&T, Bell Canada, BT Group, Ericsson, Etisalat, Huawei, Juniper Networks, Inc., Nokia, Palo Alto Networks, Inc., Qualcomm Technologies, Inc., Rogers, Sierra Wireless, Singtel, Sprint, Syniverse Technologies LLC, Telefonica, Telenor Group, Telstra, Telus, Verizon, and Vodafone, among others. are some of the key players operating in the global market.Key players in the market are focusing on launching new products & developing existing offering and have adopted various strategies to expand their foothold in the market. Also, governments in countries such as U.S., South Korea, China, Japan, among others are expected to largely adopt & implement 5G IoT technology in the coming years. For instance, Nokia and Korea Telecom (KT) has collaborated to conduct trails of 5G NFV and network slicing which will allow to provide innovative services, including virtual reality, smart factory, IoT use cases and connected cars. Qualcomm Technologies, Inc. recently announced 212 LTE IoT modem, single mode, NB2 IoT chipset which allows for less power consumption.Key Topics Covered: 1. Introduction2. Executive Summary3. Research Methodology4. 5G IoT Market Insights4.1. 5G IoT - Industry snapshot4.2. 5G IoT Market Dynamics4.2.1. Drivers and Opportunities4.2.1.1. Surge in installation of 5G networks4.2.1.2. Favorable government initiatives4.2.2. Restraints and Challenges4.2.2.1. Operational issues4.3. Porter's Five Forces Analysis4.4. PESTLE Analysis4.5. 5G IoT Market Industry trends5. 5G IoT Market Assessment by Radio Technology5.1. Key Findings5.2. Introduction5.3. 5G NR Standalone Architecture5.4. 5G NR Non- Standalone Architecture6. 5G IoT Market Assessment, by Range6.1. Key Findings6.2. Introduction6.3. Short Range IoT Devices6.4. Wide Range IoT Devices7. 5G IoT Market Assessment by Vertical7.1. Key Findings7.2. Introduction7.3. Manufacturing7.4. Energy & Utilities7.5. Government7.6. Healthcare7.7. Transportation & Logistics7.8. Mining8. 5G IoT Market Assessment by Geography8.1. Key findings8.2. Introduction8.2.1. 5G IoT Market Assessment, By Geography, 2020-2027 (USD Million)9. Competitive Landscape9.1. Expansion and Acquisition Analysis9.1.1. Expansion9.1.2. Acquisitions9.2. Partnerships/Collaborations/Agreements/Exhibitions10. Company Profiles AnritsuAT&TBell CanadaBT GroupEricssonEtisalatHuaweiJuniper Networks Inc.NokiaPalo Alto Networks Inc.Qualcomm Technologies Inc.RogersSierra WirelessSingtelSprintSyniverse Technologies LLCTelefonicaTelenor GroupTelstraTelusVerizonVodafone For more information about this report visit https://www.researchandmarkets.com/r/7qnmr9 CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Cantargia AB ("Cantargia") will participate at several international investor conferences during March to present the company, the drug candidates CAN04 and CAN10 and future plans. For details, see below.
These gorgeous species will help to filter out toxic chemicals
ATLANTA (AP) _ Cardlytics, Inc. (CDLX) on Monday reported a fourth-quarter loss of $6.8 million, after reporting a profit in the same period a year earlier. On a per-share basis, the Atlanta-based company said it had a loss of 24 cents. The results fell short of Wall Street expectations.
A reward system for kidnappers is fuelling mass abductions of students in northern Nigeria.
Police say 6-year-old James Robert Hutchinson was killed and thrown into the Ohio River. His mother, Brittany Gosney, and her boyfriend are charged.
The state of New York is awaiting Governor Andrew Cuomo's next move after he denied sexual harassment claims by a second accuser and also conceded some of his actions might have been inappropriate.
Earnings Conference Call at 10am PST (1pm EST) Today VANCOUVER, British Columbia, March 01, 2021 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (NYSE: EXK; TSX: EDR) released today its financial results for the fourth quarter and year ended December 31, 2020. The Company operates three silver-gold mines in Mexico: the Guanaceví mine in Durango state, the Bolañitos mine in Guanajuato state and the El Compas mine in Zacatecas state. All dollar ($) amounts are reported in United States dollars (US$). Bradford Cooke, Endeavour CEO, commented, “While 2019 was operationally the most challenging in our 16-year history as a producing company, 2020 was perhaps one of the most satisfying. Notwithstanding a government mandated two-month suspension of mining operations due to the COVID pandemic, we delivered higher production and lower costs at each of our three operating mines in 2020.” “Lower costs coupled with higher metal prices drove significantly higher revenues, cash flow and earnings, which turned positive for the first time in three years thanks to our very strong performance in Q4, 2020. The operational turn-around programs implemented in 2019 have been a big success operationally and financially, a testament to the hard work, skill, passion and persistence of our operations team.” “We remain alert regarding the COVID pandemic in Mexico and diligent with all our health and safety protocols, continuing to prioritize our employees’ safety as a key goal. I am pleased to report that Guanacevi, our largest mine, posted a second consecutive year with more than 1 million hours worked without a lost time accident.” 2020 Fourth Quarter Highlights Gross Sales: $61.2 million, up 81% from $34.6 million in Q4, 2019 on the sale of 1.4 million ounces (oz) of silver and 13,850 oz gold at average realized prices of $24.76 per oz silver and $1,885 per oz gold.Cash Flow: $21.6 million from operations before working capital changes, up from negative $7.9 million in 2019, mine operating cash flow before taxes(1) was $30.2 million up from $4.9 million in Q4 2019.Net Income: $19.9 million ($0.13 per share), up from a net loss of $17.9 million in Q4, 2019, Q4 2020 EBITDA was $24.3 million.Metal Production: 1,117,289 oz silver and 12,586 oz gold for 2.1 million oz silver equivalent (AgEq), up 25% compared to 1,705,751 oz AgEq in Q4, 2019 using an 80:1 silver:gold ratio.Cash Cost(1): $6.83 per oz silver payable net of gold credits, down 50% from $13.63 per oz in Q4, 2019. Direct cost per tonne increased due to higher royalty payments and third-party ore purchased at the Guanaceví mine, partly offset by lower costs at the Bolanitos and El Compas mines. Excluding royalties and special mining duties, operating cost per tonne declined in Q4, 2020 due to improved productivity.All-in Sustaining Cost (AISC)(1): $18.52 per oz silver payable net of gold credits, down 20% from $23.20 per oz in Q4, 2019. 2020 Full Year Highlights Gross Revenue: $140.3 million, up 15% from $121.7 million in 2019 on the sale of 3.5 million oz of silver and 35,519 oz gold at average realized prices of $21.60 per oz silver and $1,846 per oz gold. Cash Flow: $28.8 million from operations before working capital changes, up from negative $8.9 million in 2019, mine operating cash flow before taxes(1) was $56.2 million up from $14.9 million in 2019.Net Income: $1.2 million ($0.01 per share), up from a net loss of $48.1 million in 2019, full year EBITDA(1) was $29.4 million. Metal Production: 3,513,767 oz silver and 37,139 oz gold for 6.5 million oz AgEq, down 9% from 7.1 million oz AgEq in 2019 using an 80:1 silver:gold ratio primarily due to the suspension of operations at the El Cubo mine on November 30, 2019.Cash Cost(1): $5.55 per oz silver payable net of gold credits, down 57% from $12.85 per oz in 2019. All-in Sustaining Cost(1): $17.59 per oz silver payable net of gold credits, down 17% from $21.19 per oz in 2019. Direct cost per tonne increased due to higher royalty payments and toll ore purchases at the Guanaceví mine, partly offset by lower costs at the Bolanitos and El Compas mines. Excluding royalties and special mining duties, operating cost per tonne declined due to improved productivity. Balance Sheet: Year-end cash balance was $61.1 million, working capital was $70.4 million. Only long term debt consist of equipment loans of $6.1 million used to upgrade our mobile fleet. Raised net $25.3 million in proceeds from an ATM equity offering in the first seven months of 2020 with a new ATM of $60 million currently in place and available for use.Guanacevi Continued to Outperform: Operating costs increased due to purchasing more toll ore from small miners, while the higher prices and profitability increased royalty payments and special mining duties. Delivered free cash flow of $20.8 million.Bolanitos Continued to Improve: Higher prices and improved profitability resulted in higher special mining duties which increased direct costs per tonne. Direct operating costs improved from 2019 due to increased productivity in 2020. Delivered free cash flow of $3.2 million.El Compas Costs Improved: Cost profile improved compared to prior quarters, while throughput remained steady. Terronera Pre-Feasibility Study Finalized: Represents the Company’s next core asset with a low CAPEX, low operating costs, short payback period and exceptional financial returns, feasibility study now half way towards completion in Q3, 2021.Expanded Land Position and Resumed Greenfields Exploration at Terronera: Acquired two adjacent mineral concessions spanning 4,959 hectares, covering multiple mineralized vein structures, and resumed drilling of untested veins.Delivered Positive Brownfields Exploration Results: Drilling continued to intersect high-grade gold-silver mineralization in the Santa Cruz vein at Guanacevi, the Melladito and San Bernabe veins at Bolanitos, and the Misie and Calicanto veins in the El Compas district. (1) Mine operating cash flow, direct cost per tonne, direct operating cost per tonne, cash costs and all-in sustaining costs are non-IFRS measures. Please refer to the definitions in the Company’s Management Discussion & Analysis. Financial Overview In 2020, revenue, net of smelting and refining costs, increased 18% to $138.4 million as sharply higher metal prices were partly offset by 9% lower silver equivalent production year on year. Mine operating cash flows, operating cash flows, earnings and EBITDA all substantially increased compared to 2019. Net earnings improved to $1.2 million compared to a net loss of $48.1 million in 2019, including $19.9 million earnings in Q4, 2020. A Company-wide review of operations in early 2019 identified several opportunities to improve operating performance. As a result, management initiated multiple remedial measures including changes of mine-site management and mining contractors, changes to shift and contractor supervision, renting used mining equipment, leasing new mining equipment and reducing the work force. The goal of these remedial measures was to improve safety, boost productivity, reduce operating costs and generate free cash flow. Management notes that the remedial measures had a positive impact on mine operating performance, the operational turn-arounds were completed last year and the benefit of these initiatives was realized in the second half of 2020. These improvements accommodated increased health protocols and new government restrictions related to the COVID-19 global pandemic (COVID-19), including the temporary suspension of mining operations in April and May of 2020. Direct costs per tonne in 2020 increased 4%, to $114.57 compared with 2019 due to higher royalties, special mining duties and toll ore purchases offset by improved productivity at the Guanaceví and Bolañitos operation, the depreciation of the Mexican Peso and the exclusion of the El Cubo operation, which suspended activities in Q4, 2019. Direct operating cost per tonne, which excludes royalties and special mining duties, was 6% lower at $101.17 per tonne compared to $107.96 per tonne in 2019. Consolidated cash costs per oz, net of by-product credits, decreased 57% to $5.55 primarily due to higher ore grades and higher a realized gold price that increased the by-product credit compared to 2019. All-in sustaining cost decreased 17% to $17.59 per oz in 2020 as a result of lower operating costs partly offset by higher corporate general and administrative costs and increased capital expenditures to accelerate mine development. General and administrative costs increased $2.7 million primarily due to a $3.5 million expense related the mark to market of deferred share units. Financial Results (Consolidated Statement of Operations Appended Below) For the year ended December 31, 2020, the Company generated net revenue totalling $138.4 million (2019 - $117.4 million). During the year, the Company sold 3,460,638 silver oz and 35,519 gold oz at realized prices of $21.60 and $1,846 per oz respectively, compared to sales of 4,054,652 oz silver and 39,151 oz gold at realized prices of $16.29 and $1,422 per oz respectively in 2019. Cost of sales for 2020 was $111.1 million, a decrease of 18% over the cost of sales of $134.8 million for 2019. The 18% decrease in cost of sales was primarily related to the 21% decrease in tonnes processed and the depreciation of the Mexican Peso while cost cutting and efficiency measures implemented during 2019 were partly offset by inefficiencies of the suspension and re-start of activities due to COVID-19 and higher royalty expense with the rising prices. Royalties increased 301% to $8.2 million due to higher realized prices and the increased mining of the high grade El Curso property at the Guanacevi operation which is subject to significantly higher royalty rates. Mine operating earnings was $27.3 million compared to a loss of $17.4 million in 2019. Excluding depreciation and depletion of $28.1million (2019 - $31.5 million), stock-based compensation of $0.3 million (2019- $0.2 million) and the inventory write off of $0.4 million (2019- $0.6 million) mine operating cash flow before taxes was $56.2 million in 2020 (2019 – $14.9 million). Operating losses before taxes was $0.8 million (2019 – loss of $43.9 million) after exploration expenditures of $9.8 million (2019 – $12.0 million), general and administrative expense of $12.7 million (2019 – $10.0 million), care and maintenance expense for the shutdown of the El Cubo mine of $3.0 million and $2.2 million in care and maintenance costs related to the temporary suspension of the Guanaceví, Bolañitos and El Compas operations due to COVID-19 in Q2, 2020. In 2020, the operating loss included impairments, net of impairment reversals, of non-current assets of $0.4 million related the value in use estimates of the Guanacevi and El Compas operations. The operating loss for 2019 included a severance expense of $4.6 million related to the suspension of operations at El Cubo at the end of 2019. There was an income tax recovery of $2.2 million in 2020 compared to an income tax expense of $4.1 million in 2019. The $2.2 million tax recovery is comprised of $3.0 million in current income tax expense (2019 - $2.7 million) and $5.2 million in deferred income tax recovery (2019- $1.4 million deferred income tax expense). The current income tax expense consists of $2.0 million of special mining duty taxes and $1.0 million of income taxes. In 2019, the Company did not pay special mining duty due the losses generated at the operations. The deferred income tax recovery of $5.2 million is primarily due recognition loss carry forwards as the future profitability of the Guanacevi operation has significantly increased with the recent increase in reserve estimates. Conference Call A conference call to discuss these results will be held today, Monday, March 1st at 10am PST (1pm EST). To participate in the conference call, please dial the numbers below. No pass-code is necessary. Toll-free in Canada and the US: 1-800-319-4610 Local Vancouver: 604-638-5340 Outside of Canada and the US: +-604-638-5340 A replay of the conference call will be available by dialing 1-800-319-6413 in Canada and the US (toll-free) or +604-638-9010 outside of Canada and the US. The required pass-code is 5891#. The replay will also be available on the Company’s website at www.edrsilver.com. The complete financial statements and Management’s Discussion & Analysis can be viewed on the Company’s website, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. All shareholders can receive a hard copy of the Company’s complete audited financial statements free of charge upon request. To receive this material in hard copy, please contact Galina Meleger, Director Investor Relations at 604-640-4804, toll free at 1-877-685-9775 or email at gmeleger@edrsilver.com About Endeavour Silver – Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates three high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders. SOURCE Endeavour Silver Corp. Contact Information: Galina Meleger, Director Investor RelationsToll free: (877) 685-9775Tel: (604) 640-4804Email: gmeleger@edrsilver.comWebsite: www.edrsilver.com Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn Cautionary Note Regarding Forward-Looking Statements This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding Endeavour’s anticipated performance in 2021 including changes in mining operations and production levels, the impact of COVID-19 and the timing and results of various activities. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to changes in production and costs guidance, national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices, operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, challenges to the Company’s title to properties; the impact of COVID-19, as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information. ENDEAVOUR SILVER CORP.COMPARATIVE HIGHLIGHTS Three Months Ended December 312020 HighlightsYear Ended December 3120202019% Change20202019% ChangeProduction1,117,289939,51119%Silver ounces produced3,513,7674,018,735(13%)12,5869,57831%Gold ounces produced37,13938,907(5%)1,108,848923,54020%Payable silver ounces produced3,482,0943,951,923(12%)12,3149,39731%Payable gold ounces produced36,39238,003(4%)2,124,1691,705,75125%Silver equivalent ounces produced(1)6,484,8877,131,295(9%)6.8313.63(50%)Cash costs per silver ounce(2)(3)5.5512.85(57%)14.5820.43(29%)Total production costs per ounce(2)(4)14.0120.73(32%)18.5223.20(20%)All-in sustaining costs per ounce(2)(5)17.5921.19(17%)237,389236,5310%Processed tonnes757,160954,886(21%)105.07110.64(5%)Direct operating costs per tonne(2)(6)101.17107.96(6%)129.66113.4714%Direct costs per tonne(2)(6)114.57110.094%14.8315.19(2%)Silver co-product cash costs(7)12.9714.18(9%)1,1291,312(14%)Gold co-product cash costs(7)1,1091,238(10%)Financial60.733.581%Revenue(11) ($ millions)138.4117.418%1,419,0371,050,15735%Silver ounces sold3,460,6384,054,652(15%)13,85010,80328%Gold ounces sold35,51939,151(9%)24.7617.4542%Realized silver price per ounce21.6016.2933%1,8851,50725%Realized gold price per ounce1,8461,42230%19.9(17.9)211%Net earnings (loss) ($ millions)1.2(48.1)102%20.8(3.8)649%Mine operating earnings (loss) ($ millions)27.3(17.4)257%30.24.9519%Mine operating cash flow ($ millions)(8)56.214.9277%21.6(7.9)375%Operating cash flow before working capital changes(9)28.8(8.9)424%24.3(4.8)603%Earnings before ITDA(10) ($ millions)29.4(11.1)364%70.438.483%Working capital ($ millions)70.438.483%Shareholders0.13(0.13)199%Earnings (loss) per share – basic0.01(0.36)103%0.14(0.06)250%Operating cash flow before working capital changes per share(9)0.19(0.07)600%157,536,658140,054,88512%Weighted average shares outstanding150,901,598135,367,12911% The above highlights are key measures used by management, however they should not be the sole measures used in determining the performance of the Company’s operations. The related definitions and reconciliations are contained in the Management Discussion and Analysis. ENDEAVOUR SILVER CORP.CONSOLIDATED STATEMENTS OF CASH FLOWS(expressed in thousands of U.S. dollars) Years ended December 31, December 31, 2020 2019 Operating activities Net earnings (loss) for the year $1,159 $(48,066) Items not affecting cash: Share-based compensation 3,003 3,195 Depreciation, depletion and amortization 28,863 32,050 Impairment of non-current assets, net 424 - Deferred income tax expense (recovery) (5,206) 2,358 Unrealized foreign exchange loss (gain) (1,032) (100)Finance costs 1,357 602 Write off of IVA receivable - 151 Write off of mineral properties - 45 Write down of warehouse inventory - 233 Write down of inventory to net realizable value 405 576 Loss on asset disposal 86 43 Loss (gain) on other investments (233) 19 Net changes in non-cash working capital 10,138 (684)Cash from (used in) operating activities 38,964 (9,578)Investing activities Proceeds on disposal of property, plant and equipment 190 11 Mineral property, plant and equipment expenditures (25,539) (21,519)Intangible asset expenditures - (280)Purchase of short term investments (5,497) - Proceeds from disposal of marketable securities 1,032 - Redemption of (investment in) non-current deposits - 3 Cash used in investing activities (29,814) (21,785)Financing activities Repayment of loans payable (3,229) (1,343)Repayment of lease liabilities (183) (247)Interest paid (918) (391)Public equity offerings 26,367 23,557 Exercise of options 6,910 343 Share issuance costs (1,112) (716)Deferred financing costs (294) - Cash from (used in) financing activities 27,541 21,203 Effect of exchange rate change on cash and cash equivalents 1,024 152 Increase (decrease) in cash and cash equivalents 36,691 (10,160)Cash and cash equivalents, beginning of the year 23,368 33,376 Cash and cash equivalents, end of the year $61,083 $23,368 This statement should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2020 and the related notes contained therein. ENDEAVOUR SILVER CORP.CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (expressed in thousands of US dollars, except for shares and per share amounts) Years ended December 31, December 31, 2020 2019 Revenue $138,461 $117,421 Cost of sales: Direct production costs 74,101 100,482 Royalties 8,154 2,034 Share-based payments 330 195 Depreciation, depletion and amortization 28,136 31,495 Write down of inventory to net realizable value 405 576 111,126 134,782 Mine operating earnings (loss) 27,335 (17,361) Expenses: Exploration 9,756 12,001 General and administrative 12,715 9,980 Care and maintenance costs 5,233 - Impairment of non-current assets, net 424 - Severance costs - 4,589 28,128 26,570 Operating earnings (loss) (793) (43,931) Finance costs 1,357 602 Other income (expense): Write off of IVA receivable - (151)Foreign exchange (1,553) 101 Investment and other 2,649 579 1,096 529 Earnings (loss) before income taxes (1,054) (44,004)Income tax expense (recovery): Current income tax expense 2,993 2,702 Deferred income tax expense (recovery) (5,206) 1,360 (2,213) 4,062 Net earnings (loss) and comprehensive earnings (loss) for the year $1,159 $(48,066) Basic earnings (loss) per share based on net earnings $0.01 $(0.36)Diluted earnings (loss) per share based on net earnings $0.01 $(0.36) Basic weighted average number of shares outstanding 150,901,598 135,367,129 Diluted weighted average number of shares outstanding 154,039,714 135,367,129 This statement should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2020 and the related notes contained therein. ENDEAVOUR SILVER CORP.CONSOLIDATED STATEMENTS OF FINANCIAL POSITION(expressed in thousands of US dollars) December 31, December 31, 2020 2019 ASSETS Current assets Cash and cash equivalents $61,083 $23,368 Other investments 4,767 69 Accounts and other receivable 20,144 18,572 Income tax receivable 52 4,378 Inventories 16,640 13,589 Prepaid expenses 2,284 3,302 Total current assets 104,970 63,278 Non-current deposits 591 606 Deferred financing costs 294 - Non-current IVA receivable 2,676 2,048 Deferred income tax asset 12,753 7,136 Intangible assets 492 975 Right-of-use leased assets 861 1,337 Mineral properties, plant and equipment 87,955 88,333 Total assets $210,592 $163,713 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable and accrued liabilities $27,764 $19,775 Income taxes payable 3,038 1,947 Loans payable 3,578 2,958 Lease liabilities 173 164 Total current liabilities 34,553 24,844 Loans payable 6,094 5,917 Lease liabilities 921 1,074 Provision for reclamation and rehabilitation 8,876 8,403 Deferred income tax liability 1,077 682 Total liabilities 51,521 40,920 Shareholders' equity Common shares, unlimited shares authorized, no par value, issued and outstanding 157,924,708 shares (Dec 31, 2019 - 141,668,178 shares) 517,711 482,170 Contributed surplus 9,662 11,482 Retained earnings (deficit) (368,302) (370,859)Total shareholders' equity 159,071 122,793 Total liabilities and shareholders' equity $210,592 $163,713 This statement should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2020 and the related notes contained therein.
Phoenix, AZ, March 01, 2021 (GLOBE NEWSWIRE) -- InnSuites Hospitality Trust (NYSE American: IHT) IHT CLEAN ENERGY DIVERSIFICATION PROGRESS InnSuites Hospitality Trust (IHT) reported fiscal 2021 second quarter revenues of approximately $1 million for the three months May 1, 2020 to July 31, 2020 compared to revenues of approximately $1.54 million for the same prior year period. Basic earnings per share for the three months ended July 31, 2020 was ($0.14) compared with ($0.05) for the three months ended July 31, 2019. This decline was largely attributable to the negative impact of the Covid-19 virus pandemic. In 2019, InnSuites Hospitality Trust (IHT) made an initial $1 million bond diversification investment convertible into 1 million shares of privately held UniGen Power, Inc. (UPI), a company developing a patented high profit potential new efficient clean energy generation innovation. In addition to the initial investment which could be converted into 1 million UPI shares, IHT also holds 2 Million warrants convertible into an additional 2 million UPI shares, which could result in IHT holding an approximate 25% ownership in UPI in the future. IHT is informed that UPI has made positive progress to date on development of this innovation, with the first Prototype scheduled to be operational on or before June 30, 2021. James Wirth, President /CEO /chairman of IHT cautioned of the challenges of any new innovation but indicated confidence in the technical team based in Detroit and in the encouraging progress over the last 14 months despite the Covid-19 pandemic. Hospitality industry results for IHT for the second fiscal quarter of Fiscal 2021, reflected the continued economic and travel industry slowdown caused by the Virus and various travel and lockdown restrictions. The sense of IHT Management, according to James Wirth President, CEO, and Board Chairman, is that the IHT stock is trading below its true underlying value based on IHT stock being closely held, the company capitalization being small, recent substantial profits coming from asset sales well above low book value, as well as IHT continuing assets held at low book values believed to have substantially higher market value, indicating substantial future profit potential. The Trust strategy of pursuing the highly promising UniGen diversification, and/or a larger reverse merger partner seeking a NYSE American listing is progressing. For more information, visit www.innsuitestrust.com. Forward-Looking Statements With the exception of historical information, the matters discussed in this news release may include “forward-looking statements” within the meaning of the federal securities laws. All statements regarding IHT’s review and exploration of potential strategic, operational and structural alternatives and expected associated costs and benefits are forward-looking. Actual developments and business decisions may differ materially from those expressed or implied by such forward-looking statements. Important factors, among others, that could cause IHT’s actual results and future actions to differ materially from those described in forward-looking statements include the uncertain outcome, impact, effects and results of IHT’s review of strategic, operational and structural alternatives, IHT’s success in finding potential qualified purchasers for its hospitality real estate, or a reverse merger partner, and other risks discussed in IHT’s SEC filings. IHT expressly disclaims any obligation to update any forward-looking statement contained in this news release to reflect events or circumstances that may arise after the date hereof, all of which are expressly qualified by the foregoing, other than as required by applicable law. FOR FURTHER INFORMATION:Marc Berg, Executive Vice President 602-944-1500 email: mberg@innsuites.com INNSUITES HOTEL CENTRE1730 E. NORTHERN AVENUE, #122Phoenix, Arizona 85020Phone: 602-944-1500
-- VAZALORE is the first ever liquid-filled aspirin capsule with an innovative delivery platform indicated as a pain reliever, fever reducer and for aspirin therapy in vascular indications – -- U.S. commercial launch of VAZALORE planned for third quarter 2021 -- SPARTA, N.J., March 01, 2021 (GLOBE NEWSWIRE) -- PLx Pharma Inc. (NASDAQ: PLXP) (“PLx” or the “Company”) is a late-stage specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform designed to provide more effective and safer products. PLx announced today that the U.S. Food and Drug Administration (“FDA”) approved supplemental new drug applications (“sNDAs”) for its lead products, VAZALORE™ 325 mg and VAZALORE™ 81 mg (referred to together as “VAZALORE”), the first ever novel, liquid-filled aspirin capsule. “The approval of the VAZALORE sNDAs marks a significant milestone that brings us closer to providing an innovative aspirin to millions of patients who need reliable and predictable antiplatelet therapy,” stated Natasha Giordano, President and Chief Executive Officer of PLx. “We are delighted that the FDA approved both sNDAs for VAZALORE, and we are eager to implement our commercial launch plans later this year. We look forward to introducing VAZALORE to the medical community and to patients who can benefit from this breakthrough technology designed to reduce the risk of stomach injury,” concluded Giordano. In October 2020, the Company submitted separate supplemental new drug applications (“sNDAs”) for each dose strength. The submissions were considered chemistry and manufacturing control (“CMC”) filings as they included information on a change in formulation and the new manufacturing site for VAZALORE 325 mg and a new product strength for the 81 mg dose. The submission for the 325 mg dose also contained the results of a clinical study, demonstrating VAZALORE's bioequivalence to immediate-release aspirin, further supporting the change in formulation. The submission for the 81 mg dose builds off the information in the original approved new drug application, as well as the recent sNDA submitted for VAZALORE 325 mg. About VAZALORE VAZALORE is an FDA-approved liquid-filled aspirin capsule that provides patients with vascular disease and diabetic patients who are candidates for aspirin therapy based on physician recommendation, with fast, reliable and predictable platelet inhibition as compared to enteric-coated aspirin. It also reduces the risk of stomach erosions and ulcers, as compared to immediate-release aspirin, common in an acute setting. About PLx Pharma Inc.PLx Pharma Inc. is a late-stage specialty pharmaceutical company focused on its clinically-validated and patent-protected PLxGuard™ drug delivery platform to provide more effective and safer products. The PLxGuard drug delivery platform works by targeting the release of active pharmaceutical ingredients to various portions of the gastrointestinal (GI) tract. PLx Pharma believes this has the potential to improve the absorption of many drugs currently on the market or in development, and to reduce the risk of stomach erosions and ulcers associated with certain drugs. To learn more about PLx Pharma Inc. and its pipeline, please visit www.plxpharma.com. Forward-Looking Statements Any statements made in this press release relating to future financial or business performance, conditions, plans, prospects, trends, or strategies and other financial and business matters, including without limitation, the prospects for commercializing or selling any products or drug candidates are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, when or if used in this press release, the words “may,” “could,” “should,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “predict” and similar expressions and their variants, as they relate to PLx may identify forward-looking statements. PLx cautions that these forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Important factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including the failure by PLx to secure and maintain relationships with collaborators; risks relating to clinical trials; risks relating to the commercialization, if any, of PLx’s proposed product candidates (such as marketing, regulatory, product liability, supply, competition, and other risks); dependence on the efforts of third parties; dependence on intellectual property, risks that PLx may lack the financial resources and access to capital to fund proposed operations. Further information on the factors and risks that could affect PLx’s business, financial conditions and results of operations are contained in PLx’s filings with the U.S. Securities and Exchange Commission (“SEC”), which are available at www.sec.gov. Other risks and uncertainties are more fully described in PLx’s Form 10-K for the year ended December 31, 2019 filed with the SEC on March 13, 2020, and in other filings that PLx has made or will make going forward. The forward-looking statements represent PLx’s estimate as of the date hereof only, and PLx specifically disclaims any duty or obligation to update forward-looking statements. Contact Investor Relations:Lisa M. Wilson, In-Site Communications, Inc.T: 212-452-2793E: lwilson@insitecony.com Source: PLx Pharma Inc.
Suzhou Medilink Therapeutics Ltd. (Medilink), a global biotech company focusing on next-generation antibody-drug conjugate Research & development, announced the closing of a $50 million series A financing, to accelerate its innovative pipeline development and to support its unique conjugate technology platform. The financing includes a series-A1 round led by Apricot Capital, and a series-A2 round co-led by Loyal Valley Capital and Qiming Venture Partners.
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