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NEW YORK, April 21, 2021 (GLOBE NEWSWIRE) -- Staffing 360 Solutions, Inc. (NASDAQ: STAF) (“Staffing” or “the Company”), a staffing company executing an international buy-integrate-build strategy through the acquisition of staffing organizations in the United States and the United Kingdom, today announced it has entered into a securities purchase agreement with certain institutional investors in connection with a private placement of 4,697.6328 shares of Series F convertible preferred stock (the “Series F Preferred Stock”) at a price of $1,000 per share and warrants to purchase upon to an aggregate of 7,829,388 shares of common stock at an exercise price of $0.60 per share (the “Warrants”). The Company expects to receive gross proceeds from the private placement of approximately $4.7 million. The offering is expected to close on or about April 23, 2021, subject to satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The Series F Preferred Stock is convertible into an aggregate of approximately 7,829,388 shares of common stock at a conversion price of $0.60 per share, subject to certain ownership limitations, upon the Company amending its certificate of incorporation to provide for the full conversion of the Series F Preferred Stock, the full exercise of the Warrants and the satisfaction of the minimum bid requirements of the Nasdaq Capital Market (the “Amendment Date”). The Series F Preferred Stock is only entitled to dividends in the event dividends are paid on the Company's common stock and will not have any preferences over the Company's common stock, including liquidation rights. The Warrants are exercisable upon the later of the Amendment Date and six months following the closing of the private placement, and will expire five years following the date that the Warrants first become exercisable. Staffing intends to use $1,000,000 of the net proceeds received from the offering for working capital purposes and the remaining proceeds will be used to repay existing debt and/or redeem shares of Series E Convertible Preferred Stock. The offer and sale of the foregoing securities are being made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws. Accordingly, the securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. Under an agreement with the investors, the Company is required to file an initial registration statement with the Securities and Exchange Commission (the “SEC”) covering the resale of the shares of the Company’s common stock underlying the Series F Preferred Stock and the Warrants no later than 30 days after today and to use best efforts to have the registration statement declared effective as promptly as practical thereafter, and in any event no later than 60 days after the Amendment Date. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state. About Staffing 360 Solutions, Inc.Staffing 360 Solutions, Inc. is engaged in the execution of an international buy-integrate-build strategy through the acquisition of domestic and international staffing organizations in the United States and United Kingdom. For more information, visit www.staffing360solutions.com. Forward-Looking StatementsThis press release contains forward-looking statements, which may be identified by words such as “expect,” “look forward to,” “anticipate” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified, and include, among others, the satisfaction of the conditions to the closing of the private placement and the consummation thereof, statements regarding the intended use of net proceeds from the private placement; consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation; the Company’s ability to retain the listing of its common stock on the Nasdaq Capital Market; the geographic, social and economic impact of COVID-19 on the Company’s ability to conduct its business and raise capital in the future when needed; weakness in general economic conditions and levels of capital spending by customers in the industries the Company serves; weakness or volatility in the financial and capital markets, which may result in the postponement or cancellation of customer capital projects or the inability of the Company’s customers to pay the Company’s fees; the termination of a major customer contract or project; delays or reductions in U.S. government spending; credit risks associated with the Company’s customers; competitive market pressures; the availability and cost of qualified labor; the Company’s level of success in attracting, training and retaining qualified management personnel and other staff employees; changes in tax laws and other government regulations, including the impact of health care reform laws and regulations; the possibility of incurring liability for the Company’s business activities, including, but not limited to, the activities of the Company’s temporary employees; the Company’s performance on customer contracts; negative outcome of pending and future claims and litigation; government policies, legislation or judicial decisions adverse to the Company’s businesses; the Company’s ability to access the capital markets by pursuing additional debt and equity financing to fund its business plan and expenses on terms acceptable to the Company or at all; the Company’s ability to achieve loan forgiveness under Paycheck Protection Program; and the Company’s ability to comply with its contractual covenants, including in respect of its debt agreements, as well as various additional risks, many of which are now unknown and generally out of the Company’s control, and which are detailed from time to time in reports filed by the Company with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. The Company does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. Investor Relations Contacts:Terri MacInnis, VP of IRBibicoff + MacInnis, Inc.(818) 379-8500 x2terri@bibimac.com
The "Market Spotlight: Renal Disease" report has been added to ResearchAndMarkets.com's offering.
FORT WILLIAM FIRST NATION, Ontario, April 21, 2021 (GLOBE NEWSWIRE) -- Wataynikaneyap Power is pleased to announce that the Wataynikaneyap Power Transmission Project has been chosen as a 2021 Clean50 Top Project award winner. Clean50 Top Projects are chosen annually based on their innovation, their ability to inform, and inspire other Canadians. The Wataynikaneyap Power Transmission Project is an unprecedented First Nations-led project to build approximately 1,800 kilometres of transmission lines in Northwestern Ontario to connect 17 remote First Nations communities to the provincial transmission grid for the first time. The project will reinforce the existing transmission grid to Pickle Lake and bring reliable energy to the communities. Communities’ current diesel generated energy is insufficient, resulting in load restrictions and power outages. Inadequate power supply is lowering the quality of life, and dramatically limiting the expansion of remote First Nations communities. Connection to the power grid will provide cleaner and more reliable power to the population. The Wataynikaneyap Power Transmission Project is expected to result in over 6.6 million tonnes of avoided GHG emissions over forty years, by replacing approximately 25 million litres/year of diesel usage. "We are proud of this recognition as a Clean50 Top Project. Connection to the Ontario power grid will not only reduce diesel usage and transport - with stable, clean power available, communities are enabled to grow and improve community infrastructure and further community development including business and economic opportunities. Importantly, this huge undertaking is being led by First Nations, who currently own 51% of the infrastructure being built on their homelands along with their partners,” said Margaret Kenequanash, CEO of Wataynikaneyap Power. Eliezer Mckay, Chair of First Nations Limited Partnership, remarks, “When our first community was connected to the power grid for the first time, in December 2018, it was a remarkable thing. We are on schedule to hook up the remaining communities by 2023. This project is only possible through the cooperation, patience, and support of our 24 First Nation owners, who share the vision of building and owning a transmission line to bring reliable power to their communities. Meegwetch to the land stewards and First Nation communities for their continued support of the Wataynikaneyap Power Project.” “We are proud to bring our utility experience to the Wataynikaneyap Transmission Power Project as we work with our First Nations partners to realize collective clean energy goals in Ontario’s north,” said David Hutchens, President and CEO, Fortis Inc. “The project is the largest First Nations majority-owned infrastructure project in the history of Canada, one which will bring many socio-economic benefits to the 17 First Nations communities who will be connected to the main electricity grid in Ontario for the first time.” The Top Project of the year will be voted for at the 2021 Clean50 Summit from votes cast by both incoming and alumni members of the Clean50. Due to COVID-19, the Clean50 Summit and the celebration of this year’s Clean50 honourees has been postponed to an in-person gathering on September 30, 2021 in Toronto, Ontario. For the Wataynikaneyap Power Transmission Project’s Clean50 award coverage, visit: https://clean50.com/projects/wataynikaneyap-power-project-connecting-24-first-nations-wataynikaneyap-power-fortisontario/. For more information on the Clean50, please visit https://clean50.com/. About Wataynikaneyap PowerWataynikaneyap Power is a licensed transmission company, regulated by the Ontario Energy Board, and majority-owned by a partnership of 24 First Nation communities in partnership with Fortis Inc. and other private investors. The 24 First Nation communities also established Opiikapawiin Services to lead the community engagement and participation for Wataynikaneyap Power LP. FortisOntario Inc., a wholly owned subsidiary of Fortis Inc., acts as the project manager through its wholly owned subsidiary, Wataynikaneyap Power PM Inc. To connect remote First Nations communities to the electrical grid, Wataynikaneyap Power will develop, manage construction, and operate approximately 1,800 kilometres of transmission lines in northwestern Ontario. For further information, please visit: www.wataypower.ca About First Nation Limited Partnership First Nation Limited Partnership (FNLP) is a partnership of 24 First Nations in Northwestern Ontario working together to connect 17 remote communities currently powered by diesel generation stations. FNLP was established in 2015 to be the ownership and control of the participating First Nations’ interest in Wataynikaneyap Power LP. The 51% interest in Wataynikaneyap Power LP is equally owned by each of the 24 First Nation communities and FNLP will maintain their ability to increase their ownership to 100% over time. For additional information, please visit: www.oslp.ca or www.wataypower.ca. About FortisFortis is a well-diversified leader in the North American regulated electric and gas utility industry, with 2020 revenue of $8.9 billion and total assets of $55 billion as at December 31, 2020. The Corporation's 9,000 employees serve utility customers in five Canadian provinces, nine U.S. states and three Caribbean countries. Fortis shares are listed on the TSX and NYSE and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedar.com, or www.sec.gov. About Delta Management Group / Canada’s Clean50Leading sustainability and clean tech search firm Delta Management Group in 2011 founded, and remains the steward of the Canada’s Clean50 awards. The awards were created to annually identify, recognize and connect 50 sustainability leaders, 10-20 Emerging Leaders and Top Projects from every sector of Canadian endeavor. The firm also annually convenes the Clean50 Summit, in order to facilitate understanding, collaboration and innovation in the fight to keep human caused climate impacts below 1.5 degrees. Media ContactsKristine Carmichael, Director of Corporate and Customer ServicesFortisOntario Inc.(905) 994-3637Kristine.Carmichael@fortisontario.comMary Kita, Manager, CommunicationsWataynikaneyap Power(807) 631-7503Mary.Kita@wataypower.ca
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Tokyo Olympic organisers indicated on Wednesday they would delay making a decision on the limit for spectators in venues, possibly until June, as a resurgence in coronavirus cases complicates planning. Games organisers decided last month that international spectators would not be allowed into Japan, and had said they would decide in April on how many domestic spectators would be allowed into venues. But Tokyo 2020 President Seiko Hashimoto told a news conference the decision would take more time while they study the coronavirus situation in the country.
Israeli cyber intelligence firm NSO negotiated with the Jordanian government in recent months on a deal to sell new spying technology, two sources briefed on the matter tell me.Why it matters: The Jordanian intelligence services surveil terrorist groups, but they also monitor opposition activists and crack down on domestic criticism of King Abdullah II.Get market news worthy of your time with Axios Markets. Subscribe for free.Driving the news: The sources say the negotiations between NSO and the Jordanian government started late last year, and a delegation of the company’s senior executives and technology experts traveled to Amman.They gave a presentation to Jordanian officials, including from the General Intelligence Directorate, and demonstrated the capabilities of the new technology.According to one source, the technology related to new spyware for collecting intelligence and other technology to monitor messaging services.One source said a contract was signed, but a second said it was unclear if the deal was finalized.An NSO spokesperson told me: "As a long-standing matter of policy, we do not comment on our contacts with states. The above is not being deemed as a confirmation of the alleged facts.”The big picture: The negotiations took place in the months leading up to the latest domestic crisis in the kingdom, during which former Crown Prince Hamzah bin Hussein was put under house arrest over an alleged coup attempt.Jordanian security services monitored his communications for months and allegedly spied on his meetings with tribal leaders.Flashback: According to press reports, NSO has done business with the Jordanian government in the past. Haaretz reported last year that NSO uses the code name “Jaguar” for Jordan in internal documents.Worth noting: NSO came under harsh criticism in recent years over the use of its Pegasus spyware by several clients around the world to surveil human rights activists, opposition figures, reporters and political rivals.In October 2019, Facebook sued NSO over the alleged use of Pegasus to hack 1,400 WhatsApp accounts, including those of 100 human rights activists and journalists. NSO rejects the allegations.The Guardian reported last month that the Department of Justice had renewed a probe involving NSO.More from Axios: Sign up to get the latest market trends with Axios Markets. Subscribe for free
Expanding payment and communication options strengthens customer satisfaction and loyalty.FOLSOM, Calif., April 21, 2021 (GLOBE NEWSWIRE) -- One Inc, a digital payments platform provider for insurance companies and managing general agencies (MGAs), is pleased to announce Responsive Auto Insurance Company (Responsive Auto) has successfully implemented the One Inc Digital Payments Platform. Headquartered in Plantation, Florida, Responsive Auto provides highly rated, affordable personal auto coverage to South Florida residents through a simple, straightforward purchasing experience. Responsive Auto sought to expand payment options, optimize the customer experience, and further streamline and modernize the insurance purchasing process – for both customers and internal staff – by implementing a new digital payments solution. “Our customers are our top priority, and we strive to do everything possible to make the insurance experience as efficient and easy as possible,” said Tim Nee, COO of Responsive Auto. “By expanding payment options and enhancing digital engagement opportunities, policyholders get to choose how they are most comfortable communicating their needs. We chose One Inc because the platform’s design and functionality provide an experience around payments that is truly frictionless for insureds and insurers alike.” In addition to the customer-facing advantages, Responsive Auto is leveraging the One Inc Digital Payments Platform for a more efficient reporting process and for reconciling transactions with the company’s current policy management systems. The improved reporting and reconciliation process will not only speed time to close, but also save the company significant time and operational resources. “Responsive Auto is continuously raising the bar for customer service in insurance,” said Christopher W. Ewing, CEO of One Inc. “Our digital payments platform allows them to offer a modern customer experience by making the whole payments process easier and more convenient. We look forward to working closely with Responsive Auto, continuing to enhance their payments capabilities as we move ahead.” About One Inc One Inc is modernizing the insurance industry through a unified and frictionless payment experience. Focusing only on the insurance industry, One Inc helps carriers transform their operations by reducing costs, increasing security, and optimizing customer experience. The comprehensive end-to-end digital payments platform provides expanded payment options, multi-channel digital communications, and rapid digital claim payment, even for the most complex insurance use cases. As one of the fastest growing digital payments platforms in the insurance industry, One Inc manages billions of dollars per year in premiums and claims payments. For more information, please visit www.oneinc.com Media Contact:Jennifer OverhulseSt. Nick Media Servicesjen@stnickmedia.com859-803-6597
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