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Yahoo Finance’s Julie Hyman and Brian Sozzi speak with Smartsheet CEO Mark Mader about the company’s Q3 earnings.
Yahoo Finance’s Julie Hyman and Brian Sozzi speak with Smartsheet CEO Mark Mader about the company’s Q3 earnings.
An attorney for Houston Texans quarterback Deshaun Watson on Monday accused the 22 women who have filed lawsuits alleging they were sexually assaulted or harassed by the NFL player during massages of lying, claiming their assertions are based on an avalanche of false accusations.
Baseball fans are streaming games in record numbers through the first three weeks of the season.
CHICAGO, April 19, 2021 (GLOBE NEWSWIRE) -- R1 RCM Inc. (NASDAQ: RCM), a leading provider of technology-driven solutions that transform the patient experience and financial performance of healthcare providers, today announced the appointment of David Dill, president and chief executive officer of LifePoint Health, to the company’s board of directors, effective April 18, 2021. “We are honored to welcome David to our board,” said Alex Mandl, lead director of R1’s board. “David brings valuable insights to the board through his years of extensive leadership, operations and financial experience in healthcare. I look forward to working with him and driving continued success for R1.” David Dill is a veteran healthcare leader with more than 30 years of finance, operations and management experience. He joined LifePoint in 2007 as executive vice president and chief financial officer and served as president and chief operating officer from 2009 to 2018. Before joining LifePoint, Dill was executive vice president of Fresenius Medical Care North America and chief executive officer in the East Division of Fresenius Medical Care Services. He is a former chairman of the board for the Federation of American Hospitals (FAH) and currently serves as a member of the FAH’s board and executive committee. Dill is also incoming chair of the board of directors for the Nashville Health Care Council and a member of the board of trustees for the Murray State University Foundation. “I’m excited to join R1’s board during such a pivotal time for healthcare,” said Dill. “R1’s innovation and leadership in transforming one of the most critical administrative functions is highly beneficial for the industry, and I look forward to contributing my perspectives as I work with the board and management team.” “We are very pleased to have David join R1’s board,” said Joe Flanagan, president and CEO of R1. “His experience as a successful leader of one of the largest health systems in the country will be invaluable in shaping R1’s future as we continue to grow the company and develop new solutions for our customers and the patients they serve. David’s breadth of experience builds on the immense talent and expertise of our board today, and we look forward to the continual evolution of our board through leadership and diversity across multiple dimensions.” About R1 RCM R1 is a leading provider of technology-driven solutions that transform the patient experience and financial performance of hospitals, health systems, and medical groups. R1’s proven and scalable operating models seamlessly complement a healthcare organization’s infrastructure, quickly driving sustainable improvements to net patient revenue and cash flows while reducing operating costs and enhancing the patient experience. To learn more, visit: r1rcm.com. R1 RCM Contacts: Investor Relations: Atif Rahim312.firstname.lastname@example.org Media Relations: Natalie Joslin678.email@example.com
Not for distribution to U.S. news wire services or for dissemination in the United States TORONTO, April 19, 2021 (GLOBE NEWSWIRE) -- Apolo III Acquisition Corp. (“Apolo”) (TSXV: AIII.P) is pleased to announce that, further to its news release dated March 8, 2021, it has entered into a definitive business combination agreement dated April 19, 2021 (the “Business Combination Agreement”) with Playmaker Capital Inc. (“Playmaker”) and 2830125 Ontario Inc. (“Apolo Subco”), a wholly-owned subsidiary of Apolo, incorporated, pursuant to the provisions of the Business Corporations Act (Ontario) (the “OBCA”) in connection with the proposed business combination of Apolo and Playmaker, which transaction (the “Qualifying Transaction”) is intended to constitute Apolo’s “Qualifying Transaction” (within the meaning of Policy 2.4 – Capital Pool Companies of the TSX Venture Exchange (the “Exchange”)). The Business Combination Agreement provides for, among other things, a three-cornered amalgamation (the “Amalgamation”) pursuant to which, among other things: (a) Playmaker will amalgamate (the “First Amalgamation”) with Apolo Subco, (b) all of the post-Playmaker Consolidation (as described below) common shares of Playmaker (each, a “Playmaker Consolidation Share”) outstanding immediately prior to the First Amalgamation will be cancelled and, in consideration therefor, the holders thereof will receive post-Apolo Consolidation (as described below) common shares of Apolo (each, an “Apolo Consolidation Share”) on the basis of one (1) Playmaker Consolidation Share for one (1) Apolo Consolidation Share, and (c) the entity resulting from the amalgamation between Playmaker and Apolo Subco will subsequently amalgamate (the “Second Amalgamation”) with Apolo under the OBCA (the “Resulting Issuer”), and the Apolo Consolidation Shares outstanding immediately prior to the Second Amalgamation will be exchanged for the common shares of the Resulting Issuer (each, a “Resulting Issuer Share”) on the basis of one (1) Apolo Consolidation Share for each one (1) Resulting Issuer Share. After giving effect to the Qualifying Transaction, the shareholders of Playmaker will collectively exercise control over Apolo. Prior to or on completion of the Amalgamation (the “Effective Time”), it is intended that: (i) the outstanding common shares of Apolo (each, an “Apolo Share”) will be consolidated (the “Apolo Consolidation”) on the basis of one (1) Apolo Consolidation Share for each 4.54 pre-Apolo Consolidation Apolo Shares, (ii) common shares of Playmaker (each, a “Playmaker Share”) will be consolidated (the “Playmaker Consolidation”) on the basis of one (1) Playmaker Consolidation Share for every 2.5 pre-Playmaker Consolidation Playmaker Shares, (iii) Apolo will change its name to “Playmaker Capital Inc.”, and (iv) provided the Escrow Release Conditions (as defined below) are satisfied, each Subscription Receipt (as defined below) will automatically convert into one Playmaker Consolidation Share prior to the Effective Time. Completion of the proposed Qualifying Transaction is subject to, among other things, receipt of all necessary regulatory and shareholder approvals. The Business Combination Agreement The Business Combination Agreement contemplates that, among others, the following conditions precedent be met prior to the Effective Time, including, but not limited to, (a) acceptance by the Exchange and receipt of other applicable regulatory approvals; (b) completion of the Subscription Receipt Financing (as defined below); (c) receipt of the requisite approvals of the shareholders of Apolo (the “Apolo Shareholders”) with respect to the Apolo Consolidation, adoption of a new stock option plan (in such form as requested by Playmaker, acting reasonably) (the “Stock Option Plan”), the director appointments agreed upon by Apolo and Playmaker (the “Director Appointments”) and adoption of an advance notice by-law; (d) receipt of the requisite approvals of the shareholders of Playmaker with respect to the Playmaker Consolidation and the Amalgamation; (e) no adverse material change in the business, affairs, financial condition or operations of Playmaker or Apolo having occurred between the date of entering into the Business Combination Agreement and the closing date of the Qualifying Transaction; and (f) dissent rights shall have been exercised in respect of no more than 5% of the issued and outstanding Playmaker Shares. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all. The Amalgamation will not constitute a Non-Arm’s Length Qualifying Transaction (as such term is defined in the policies of the Exchange). No person who or which is a Non-Arm’s Length Party (as such term is defined in the policies of the Exchange) of Apolo has any direct or indirect beneficial interest in the share capital of Playmaker or its assets prior to giving effect to the Amalgamation and no such person is an insider of Playmaker. Similarly, there is no known relationship between or among any person who or which is a Non-Arm’s Length Party of Apolo and any person who or which is a Non-Arm’s Length Party to Playmaker. If all conditions to the implementation of the Amalgamation have been satisfied or waived, Apolo and Playmaker will carry out the Amalgamation. Pursuant to the terms of the Amalgamation, it is expected that the following security conversions, exercise and issuances will occur among Apolo, Playmaker and the securityholders of Playmaker at or prior to the Effective Time: the Apolo Shares being consolidated on the basis of one (1) post-Apolo Consolidation Apolo Share for every 4.54 pre-Apolo Consolidation Apolo Shares;an aggregate of 23,875,000 options (the “Founder Options”) collectively held by Relay Ventures Fund III L.P., Relay Ventures Parallel Fund III L.P. Jordan Gnat and JPG Investments Inc. to acquire an equal number of Playmaker Shares at a price of US$0.00001 per Playmaker Share will be exercised;all issued and outstanding Class A Preferred Shares of Playmaker shall be converted to Playmaker Shares (subject to applicable adjustment for the Playmaker Consolidation);the Playmaker Shares (excluding the Playmaker Shares to be issued upon conversion of the Subscription Receipts and conversion of the Playmaker Debentures (as defined below)) being consolidated on the basis of one (1) Playmaker Consolidation Share for every 2.5 pre-Playmaker Consolidation Shares;the Subscription Receipts being exchanged, without additional consideration or further action, into Playmaker Consolidation Shares upon satisfaction of the Escrow Release Conditions;the 5.0% convertible debentures (the “Playmaker Debentures”) in an aggregate principal amount of $12,500,000 issued in connection with the acquisition of Futbol Sites LLC and Odenton Company S.A. by Playmaker on March 3, 2021 will be converted into Playmaker Consolidation Shares at a price equal to the greater of (i) $0.10 per Playmaker Consolidation Share, and (ii) 80% of the per-share price attributed to the Playmaker Consolidation Shares in connection with the Qualifying Transaction;each Broker Warrant (as defined below) to be issued to the Agents (as defined below) in connection with the Subscription Receipt Financing outstanding immediately prior to the Effective Time shall be exchanged for Resulting Issuer Share purchase warrants (the “Resulting Issuer Broker Warrants”) such that the holders of such Resulting Issuer Broker Warrants will be entitled to the purchase of one Resulting Issuer Share per one Resulting Issuer Broker Warrant;Apolo will acquire all of the issued and outstanding Playmaker Consolidation Shares such that all issued and outstanding Playmaker Consolidation Shares, including those issued in exchange for the Subscription Receipts and those issued on conversion of the Playmaker Debentures, will be exchanged, without additional consideration or further action, for Resulting Issuer Shares on the basis of one (1) Playmaker Consolidation Share for one (1) Resulting Issuer Share;each stock option of Playmaker (other than the Founder Options) and each warrant of Playmaker outstanding immediately prior to the Effective Time, whether vested or not vested, shall be cancelled and exchanged for comparable securities of the Resulting Issuer ( “Resulting Issuer Options” and “Resulting Issuer Warrants”) on economically equivalent terms, subject to adjustments contemplated by the Business Combination Agreement; andeach stock option of Apolo outstanding immediately prior to the Effective Time, whether vested or not vested, shall be cancelled and exchanged for Resulting Issuer Options on economically equivalent terms, subject to adjustments contemplated by the Business Combination Agreement. Immediately following the Effective Time, the Resulting Issuer is expected to have 178,813,069 Resulting Issuer Shares, 7,014,200 Resulting Issuer Options, 730,800 Resulting Issuer Warrants and 1,575,600 Resulting Issuer Broker Warrants issued and outstanding. As of the Effective Time, the current Apolo Shareholders will hold an aggregate of approximately 1,892,000 Resulting Issuer Shares, representing approximately 1.1% of the Resulting Issuer Shares. Immediately following the Effective Time, Playmaker is expected to hold 128,921,069 Resulting Issuer Shares (or approximately 72.1%) and the holders of Subscription Receipts (as defined below) are expected to hold 48,000,000 Resulting Issuer Shares (or approximately 26.8%) of the total issued and outstanding Resulting Issuer Shares. Trading of the Apolo Shares was halted on April 6, 2020 as a result of the failure of Apolo to complete a Qualifying Transaction within 24 months of its listing on the Exchange, and is currently suspended and will remain suspended until completion of the Qualifying Transaction. Trading of the Apolo Shares will not resume prior to the completion of the Qualifying Transaction. About Apolo Apolo was incorporated under the OBCA and is a capital pool company within the meaning of the policies of the Exchange. Apolo has not commenced operations and has no assets other than cash. Apolo’s principal business is the identification and evaluation of assets or businesses with a view to completing a “Qualifying Transaction” under Exchange Policy 2.4 – Capital Pool Companies. About Playmaker Playmaker is a privately held company incorporated under the OBCA on July 16, 2019. Playmaker is headquartered in Toronto and Miami and is a digital sports media company that lives at the intersection of sports, gaming, media, and technology. Playmaker is building a collection of premier sports media brands, curated to deliver highly engaged audiences of sports fans to sports betting companies, leagues, teams and advertisers. Playmaker is focused on the immediately profitable portion of the iGaming ecosystem and is rolling up digital sports media assets and technology to create an ecosystem of highly engaged sports fans that Playmaker plans to monetize with sports betting companies, leagues, teams, and advertisers. Upon the closing of the Qualifying Transaction, it is expected that no other person will own, direct, or control, directly or indirectly, 10% or more of the issued and outstanding Resulting Issuer Shares other than as disclosed below: Name of ShareholderNature of OwnershipNumber of Common SharesPercentage of Issued and Outstanding – Non-DilutedPercentage of Issued and Outstanding – Fully DilutedRelay Ventures Fund III L.P.Of record and Beneficially30,734,58617.2%16.3%Relay Ventures Parallel Fund III L.P.Of record and Beneficially2,242,5791.3%1.2%JPG Investments Inc.Of record and Beneficially26,948,56215.1%14.3% Summary of Financial Information A summary of certain financial information for Playmaker, after giving effect to Playmaker’s recent acquisition of Futbol Sites LLC and Odenton Company S.A., disclosed in accordance with Exchange policies, is included in the table below: Income Statement DataDecember 31, 2020 (CDN $)December 31, 2019 (CDN $)Total Revenues8,382,0856,472,348Operating Income2,245,2352,160,007Net Income2,073,3111,966,918Balance Sheet Data Total Assets39,932,51731,304,319Total Long-Term Liabilities30,185,75930,694,972Working Capital1,651,194(4,471,990) Note: (1) The information above includes the pro forma results of the following (a) Playmaker audited financial figures for the year ended December 31, 2020 and for the period from July 16, 2019 (date of incorporation) to December 31, 2019; (b) Futbol Sites LLC audited financial figures for the years ended December 31, 2020 and 2019; and (c) Odenton Company S.A. audited financial figures for the years ended December 31, 2020 and 2019.Further financial information will be included in the Disclosure Document (as defined under Exchange Policy 2.4 – Capital Pool Companies) to be prepared in connection with the Qualifying Transaction which will be available for review on Apolo’s SEDAR profile at www.sedar.com. Proposed Directors and Senior Management Team Upon the closing of the Qualifying Transaction, it is anticipated that Jordan Gnat, Jake Cassaday, John Albright, Sebastian Siseles, Wayne Purboo, Mark Trachuk, and Maryann Turcke will constitute the board of directors of the Resulting Issuer. It is also anticipated that the new senior management team of the Resulting Issuer will be comprised of Jordan Gnat (Chief Executive Officer), Michael Cooke (Chief Financial Officer) and Federico Grinberg (Executive Vice President). The following are brief resumes of the currently proposed directors and senior officers of the Resulting Issuer following the Qualifying Transaction: Jordan Gnat, Chief Executive Officer and Director Jordan Gnat is founder and Chief Executive Officer of Playmaker which is a game-changing platform that sits at the nexus of Sports, Media, Gambling and Technology that is marrying an ecosystem of sports fans across multiple channels with product tools to create outsized fan value and loyalty for sports betting companies, advertisers and sports leagues around the world. Prior to founding Playmaker, Mr. Gnat was Group Senior Vice President of The Stars Group (the parent company of PokerStars) and Chief Commercial Officer of FOX Bet (2018-2020). Mr. Gnat was Senior Vice-President, Strategic Business Development at Scientific Games (2011-2018), President & Chief Executive Officer of Boardwalk Gaming and Entertainment (2004-2011), Executive Vice-President Kilmer Van Nostrand Company Limited (2002-2011), and President & Chief Executive Officer Midnorthern Group (May 1994-2002). Mr. Gnat is currently on the Board of Directors of Lazydays RV (NASDAQ:LAZY) and is a member of the Board of Directors of the Hospital for Sick Children Foundation in Toronto and a member of the Jewish Foundation of Toronto Board of Trustees. Mr. Gnat was previously named one of Canada's “Top 40 Under 40" honourees. John Albright, Director John Albright is a Co-Founder and Managing Partner of Relay Ventures as well as Co-Founder and Board Member of Alate Partners and Playmaker. Mr. Albright has over 20 years of experience helping entrepreneurs shape their vision and capital plans for long-term, sustainable growth. Mr. Albright’s tenure in finance spans both venture capital and private equity, where he has assisted entrepreneurs through all stages of the startup lifecycle, from seed financing to IPO and M&A. His ability to work alongside company management teams and offer guidance around hiring, governance, and scaling has been vital to the success of Relay’s investments. Mr. Albright is a Chartered Financial Analyst (CFA) and received his Bachelor of Business Administration degree from the Schulich School of Business. Mr. Albright is also on the Board of ecobee, Touchbistro, theScore, Blue Ant Media and the Centre for Aging and Brain Health Innovation. Jake Cassaday, Director Jake Cassaday is a Partner at Relay Ventures. Mr. Cassaday’s background in product management and marketing provides a strong understanding of rapid product development and go-to market strategy. He supports deal sourcing, due diligence, and portfolio management at Relay. Prior to joining Relay, Mr. Cassaday was actively involved in the startup and venture community during his time at the Rotman School of Management MBA program as a member of the Creative Destruction Lab (CDL), and as VP of the Rotman Entrepreneurship and Venture Capital Association. Previous to Rotman, Mr. Cassaday managed product development and marketing as a Global Brand Manager for tech brands at Spin Master. Mr. Cassaday holds an MBA from the University of Toronto, Rotman School of Management and a BA from McGill University. Sebastian Siseles, Director An Argentine entrepreneur with an MBA from the University of Pittsburgh, Sebastián Siseles has a background in law specializing in corporate finance and M&A and has taken post-graduate courses at the Buenos Aires Stock Exchange and the Southwestern University School of Law on International Business Transactions. Mr. Siseles is the current VP of International at Freelancer.com, the largest freelancing and crowdsourcing marketplace by number of users and jobs posted. Prior to joining Freelancer, Mr. Siseles cofounded multiple Internet and communications companies and has also served as President, Director, General Counsel, and COO in different Internet and non-technology companies, while being part of a prestigious corporate law firm in Argentina. Wayne Purboo, Director Wayne Purboo is an accomplished executive and serial entrepreneur with over 25 years of experience in the media and telecom industries. Mr. Purboo has a range of experience in software development, systems engineering, sales, product, finance and management. He played significant roles in the creation of three highly valuable startups. Mr. Purboo was co-founder and CEO of QuickPlay Media, a cloud-native company that powered video services for Tier 1 streaming providers. Under his leadership, QuickPlay was successfully acquired by AT&T in 2016. Mr. Purboo was also part of the executive team that led a successful exit of Solect Technology Group which was acquired by Amdocs in 2000. At Amdocs, Mr. Purboo spent three years as the CTO of the IP Division. Amdocs is a multinational corporation which specializes in software and services for communications, media, and financial services providers and digital enterprises. Mr. Purboo most recently added direct to consumer understandings for carrier grade products for video and broadband at AT&T where he was responsible for a portfolio that included DIRECTV, Uverse, and NFL Sunday Ticket. Over the years, Mr. Purboo’s success has been recognized by numerous professional and academic institutions including Canada’s Top 40 under 40, Deloitte Fast 50, Canada’s Spotlight Awards, and most recently by the University of the West Indies - Vice Chancellor’s Award. He has also been active on the boards and advisory of Virgin Unite, Toronto International Film Festival, Arundo, Evergent, Print Parts, and Cellwand. Mark Trachuk, Director Mark Trachuk currently serves as a director of Almonty Industries Inc. and was previously the General Counsel and Corporate Secretary of Entertainment One Ltd., a global entertainment studio that specializes in the development, acquisition, production, financing, distribution and sales of entertainment content. Entertainment One was listed on the Premium List of the London Stock Exchange (LSE:ETO) and was a member of the FTSE 250 prior to being acquired by Hasbro Inc. in December 2019. Prior to joining Entertainment One, Mr. Trachuk was a Senior Partner in the Business Law Group at Osler, Hoskin & Harcourt LLP in Toronto where he practiced corporate and securities law with an emphasis on mergers, acquisitions and strategic alliances. Mr. Trachuk has chaired Osler’s International Practice Group, Corporate Practice Group and Corporate Finance Practice Group. Mr. Trachuk holds a B.A. in Economics from Carleton University, an LL.B. from the University of Ottawa and an LL.M. from the London School of Economics. He also holds the ICD.D designation from the Institute of Corporate Directors. Mr. Trachuk is called to the bar in Ontario and British Columbia and is a solicitor in England and Wales. Maryann Turcke, Director Maryann Turcke is the former Chief Operating Officer of the National Football League (NFL). In such position, she oversaw all facets of the operation including marketing, technology, NFL Films, NFL Network and NFL Digital Content and Operations. She also oversaw the corporate functions including Human Resources, Public Relations, and Government Relations. Prior to her promotion to Chief Operating Officer, she was the President of the NFL Network. Ms. Turcke was formerly President of Bell Media, Canada’s premier multimedia company with leading assets in television, radio, out-of-home advertising, and digital media. Renowned for a wide breadth of executive leadership roles and team building skills, Ms. Turcke was previously Group President, Media Sales, Local TV and Radio, where she leveraged Bell Media properties and brands across all platforms to support its strong position in the competitive advertising marketplace. Under her leadership, Bell Media built on its position as the country’s top multimedia company, with innovations in TV and on-demand content as well as continued investment to ensure Canadians have the very best choice in primetime programs and coverage of live events, news, and sports on TV, radio, and digital platforms. Prior to joining Bell Media, Ms. Turcke was Executive Vice-President of Bell Field Operations, leading Bell’s team of 12,000 installation and service technicians in delivering Fiber TV, Internet, and other Bell residential and business services. Ms. Turcke joined Bell in 2005 as VP, Customer Experience and Operations for Small and Medium Business. In 2018, Ms. Turcke was named one of Adweek’s most Powerful Women in Sports. She has also been named one of Toronto Life’s 50 Most Influential People of 2016, a member of the Women’s Executive Network Hall of Fame, and named the 2015 Woman of the Year by Women in Communications and Technology. Ms. Turcke is Chair of the Smith School of Business and on the capital campaign for Queen’s Faculty of Engineering and Applied Science. Ms. Turcke holds a Bachelor of Civil Engineering from Queen’s University, a Master of Engineering from the University of Toronto, and a Master of Business Administration from Queen’s. Michael Cooke, Chief Financial Officer Michael Cooke brings over a decade of leadership experience leading the finance teams at multiple successful start-ups. Mr. Cooke is the former Chief Financial Officer of Ritual, a social ordering app that taps networks of coworkers and colleagues for fast and easy pick up and pay at a wide variety of local restaurants and coffee shops. Michael obtained his CPA, CA designation with KPMG LLP. Federico Grinberg, Executive Vice President Federico Grinberg began his career in Buenos Aires, Argentina as an internet entrepreneur, and has been working with Sports Fans Sites and Communities since 1998. Ten years later, in 2008 he co-founded Futbol Sites (and led the opening of new markets for FSN, such as Brazil, Chile, Colombia, Mexico and the United States). Since 2014 he has overseen the global strategy of the company from their offices in Miami, Florida. Proposed Qualifying Transaction As the proposed Qualifying Transaction is not a “Non-Arm’s Length Qualifying Transaction” (within the meaning of Policy 2.4 of the Exchange), the Qualifying Transaction does not require approval of the Apolo Shareholders. However, the Apolo Consolidation, the approval of the Stock Option Plan, and the Director Appointments, will require the approval of Apolo Shareholders by special resolution at Apolo’s annual and special meeting of Apolo Shareholders (the “Apolo Meeting”) to be held on May 26, 2021, prior to the completion of the proposed Qualifying Transaction. Due to changes recently announced by the Exchange to its Capital Pool Company program and changes to the Exchange’s Policy 2.4 – Capital Pool Companies, which became effective on January 1, 2021 (the “New CPC Policy”), Apolo intends to implement certain amendments to further align its policies with the New CPC Policy. In addition, under the New CPC Policy, the Company is permitted to implement certain other changes from the former CPC Policy without obtaining shareholder approval. As a result, the Company wishes to have the option to take advantage of all the changes under the New CPC Policy that do not require shareholder approval. Pursuant to the New CPC Policy, in order for Apolo to align certain of its policies with the New CPC Policy, it is required to obtain the approval of disinterested shareholders of Apolo (“Disinterested Shareholders”). As a result, the Company will be seeking such approval at the Meeting for the following matters: (i) to remove the consequences of failing to complete a “Qualifying Transaction” (as defined in Policy 2.4 – Capital Pool Companies) within 24 months of Apolo’s date of listing on the Exchange (the “Listing Date”); and (ii) to amend certain provisions of Apolo’s escrow agreement dated March 13, 2018 among Apolo, Computershare Investor Services Inc. and certain securityholders of Apolo (the “Escrow Agreement”). Removal of the Consequences of Failing to Complete a Qualifying Transaction within 24 Months of the Listing Date Under the Exchange’s Policy 2.4 – Capital Pool Companies (as at June 14, 2010) (the “Former CPC Policy”) there were certain consequences if a qualifying transaction is not completed within 24 months of the Listing Date. These consequences include a potential for the Apolo Shares to be delisted or suspended, or, subject to the approval of the majority of the Company’s shareholders, transferring Shares to list on the NEX and cancelling certain seed shares. The New CPC Policy has removed these consequences assuming Disinterested Shareholder approval is obtained. The Company intends to ask Disinterested Shareholders to approve the removal of such consequences at the Meeting, as it will permit Apolo to complete the Qualifying Transaction with Playmaker, and thus is beneficial to all interested parties. Amendments to the Escrow Agreement Apolo intends to ask Disinterested Shareholders to approve Apolo making certain amendments to the Escrow Agreement, including allowing Apolo’s escrowed securities to be subject to an 18 month escrow release schedule as detailed in the New CPC Policy, rather than the current 36 month escrow release schedule in the Former CPC Policy. Under the New CPC Policy, if approved by Disinterested Shareholders at the Meeting, all escrowed securities of Apolo will be released from escrow in accordance with the following schedule: Release DatesPercentage of Total Escrowed Securities to be ReleasedDate of Final Qualifying Transaction Exchange Bulletin25%Date 6 months following Final Qualifying Transaction Exchange Bulletin25%Date 12 months following Final Qualifying Transaction Exchange Bulletin25%Date 18 months following Final Qualifying Transaction Exchange Bulletin25%TOTAL100% Further details with respect to the matters to be approved at the Apolo Meeting will be contained in the information circular prepared in connection with Apolo Meeting which will be available for review on Apolo’s SEDAR profile at www.sedar.com. Playmaker Private Placement On April 1, 2021, Playmaker completed a private placement of subscription receipts (the “Subscription Receipts”) comprised of (i) the brokered sale of Subscription Receipts through Canaccord Genuity Corp. (the “Lead Agent”), as lead agent, Echelon Wealth Partners Inc., Eight Capital, PI Financial Corp. and Scotia Capital Inc. (together with the Lead Agent, the “Agents”) and (ii) the non-brokered sale of Subscription Receipts, pursuant to which an aggregate of 48,000,000 Subscription Receipts were issued at a price of $0.50 per Subscription Receipt (the “Issue Price”) for aggregate gross proceeds to Playmaker of $24,000,000 (the “Subscription Receipt Financing”). The Subscription Receipts were created and issued pursuant to the terms of a subscription receipt agreement (the “Subscription Receipt Agreement”) between Odyssey Trust Company, as subscription receipt agent and escrow agent (the “Escrow Agent”), Playmaker, and the Lead Agent, on its own behalf and on behalf of the Agents. Each Subscription Receipt will be automatically converted, without payment of additional consideration or further action by the holder thereof, into one Playmaker Consolidation Share, subject to adjustment in certain events, immediately before the completion of the Qualifying Transaction upon the satisfaction or waiver of certain Escrow Release Conditions (as defined in the Subscription Receipt Agreement) at or before 5:00 p.m. (Toronto time) on the date that is 120 days following the closing date of the Subscription Receipt Financing (the “Escrow Release Deadline”). In consideration for their services in connection with the Subscription Receipt Financing, the Agents (i) received a cash commission equal to 6.0% of the aggregate gross proceeds of the brokered portion of the Subscription Receipt Financing (other than in respect of proceeds from sales to persons on a “president’s list”, for which a reduced commission of 3.0% was payable) (the “Cash Fee”), and (ii) will receive compensation warrants entitling the Agents to subscribe for that number of Resulting Issuer Shares in an amount equal to 6.0% of the total number of the Subscription Receipts sold (other than in respect of sales to persons on a “president’s list”, for which the Agents shall be entitled to that number of warrants equal to 3.0% of the number of Subscription Receipts sold) (the “Broker Warrants”). On closing of the Subscription Receipt Financing, the gross proceeds from the Subscription Receipt Financing less 50% of the Cash Fee, as well as the expenses of the Agents incurred in connection with the Subscription Receipt Financing (the “Escrowed Proceeds”) were delivered to and are held by the Escrow Agent and have been invested pursuant to the terms of the Subscription Receipt Agreement (the Escrowed Proceeds, together with all interest and other income earned thereon, are referred to herein as the “Escrowed Funds”). The remaining 50% of the Cash Fee will be released from escrow and delivered to the Agents from the Escrowed Funds and the balance of the Escrowed Funds will be released from escrow to Playmaker upon satisfaction of the Escrow Release Conditions at the Escrow Release Deadline. In the event that (i) the Escrow Release Conditions are not satisfied on or before the Escrow Release Deadline, unless extended by the Lead Agent, acting reasonably, or (ii) prior to the Escrow Release Deadline, Playmaker advises the Lead Agent or publicly announces that it does not intend to, or will be unable to, satisfy the Escrow Release Conditions or that the Qualifying Transaction has been terminated or abandoned, holders of the Subscription Receipts shall be entitled to receive from the Escrow Agent and the Escrow Agent shall pay to each holder of Subscription Receipts an amount equal to the aggregate Issue Price of the Subscription Receipts held by them plus their pro rata share of any interest earned thereon, net of any applicable withholding tax in accordance with the Subscription Receipt Agreement, and all of the Subscription Receipts shall be cancelled. If the amount of the Escrowed Funds, including all interest thereon, would not be sufficient to satisfy any such payment, then pursuant to the Subscription Receipt Agreement, Playmaker will be required to deposit an additional amount, sufficient to satisfy the shortfall, with the Escrow Agent prior to the time at which the payment is required. Following the Qualifying Transaction, it is intended that the net proceeds from the Subscription Receipt Financing will be used to fund strategic growth initiatives. The remaining funds are expected to be used for working capital and general corporate purposes. There may be circumstances where, for sounds business reasons, the net proceeds are reallocated for different purposes. Sponsorship of the Amalgamation Sponsorship in the context of a Qualifying Transaction is required by the Exchange unless exempt in accordance with Exchange Policy 2.2. Apolo will seek a waiver from the Exchange's sponsorship requirements if no exemption is available in accordance with Exchange Policy 2.2. There is no guarantee that Apolo will obtain a waiver if sought from the Exchange's sponsorship requirements. Further Information Apolo will provide further details in respect of the Qualifying Transaction in due course by way of a subsequent news release, however, Apolo will make available to the Exchange, all information, including financial information, as may be requested or required by the Exchange. For further information, please contact: Playmaker Capital Inc.Jordan GnatChief Executive OfficerE-mail: firstname.lastname@example.orgApolo III Acquisition Corp.Jeff HergottCorporate SecretaryE-mail: email@example.com All information contained in this news release with respect to Apolo and Playmaker was supplied by the respective party, for inclusion herein, without independent review by the other party, and each party and its directors and officers have relied on the other party for any information concerning the other party. Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange requirements, majority of the minority shareholder approval. The Qualifying Transaction cannot close until the required Apolo Shareholder approval is obtained. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular of Apolo or the Disclosure Document (as defined under Exchange Policy 2.4 – Capital Pool Companies) to be prepared in connection with the Qualifying Transaction (the “Filing Document”), any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Resulting Issuer should be considered highly speculative. The Exchange has not in any way passed upon the merits of the proposed Qualifying Transaction and has neither approved nor disapproved the contents of this news release. Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Cautionary Statement Regarding Forward Looking Information This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Apolo and Playmaker with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding: (i) expectations regarding whether the Qualifying Transaction will be consummated, including whether conditions to the consummation of the Qualifying Transaction will be satisfied including, but not limited to, the necessary regulatory approvals and the timing associated with obtaining such approvals, if at all; (ii) the business plans and expectations of the Resulting Issuer; and (iii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of Playmaker, Apolo or the Resulting Issuer, as applicable, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to Playmaker, Apolo and the Resulting Issuer, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect Apolo and Playmaker’s respective management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects Playmaker’s current beliefs and is based on information currently available to Playmaker and Apolo and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the impact of the COVID-19 pandemic on the Qualifying Transaction, Apolo, Playmaker or the Resulting Issuer; completion of the Amalgamation; satisfying the conditions precedent and covenants in the Business Combination Agreement; satisfying the requirements of the Exchange with respect to the Qualifying Transaction; meeting the minimum listing requirements of the Exchange, and anticipated and unanticipated costs and other factors referenced in this news release and the Filing Document, including, but not limited to, those set forth in the Filing Document under the caption “Risk Factors”. Although Playmaker and Apolo have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this news release and, other than as required by law, Apolo and Playmaker disclaim any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Apolo and Playmaker have attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Apolo and Playmaker do not intend, and do not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
MENLO PARK, Calif., April 19, 2021 (GLOBE NEWSWIRE) -- 180 Life Sciences Corp. (NASDAQ: ATNF) (“180 Life Sciences” or the "Company"), a clinical-stage biotechnology company focused on the development of novel drugs that fulfill unmet needs in inflammatory diseases, fibrosis and pain, announced today that it received an expected letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it has not yet filed its Annual Report on Form 10-K for the year ended December 31, 2020 (the “2020 Form 10-K”) with the Securities and Exchange Commission (the “SEC”). The Nasdaq notification letter has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Capital Market. The Company filed amended and re-stated financial statements of its predecessor, KBL Merger Corp. IV, for the periods ended June 30, 2020 and September 30, 2020, on February 5, 2021, and, in addition, filed an amended post-merger Current Report on Form 8-K on February 18, 2021. As a result, the Company was unable to complete the preparation of its December 31, 2020 financial statements, for audit by its independent auditors, on a timely basis. Additionally, on April 12, 2021, the SEC issued a statement regarding accounting and reporting considerations for warrants issued by Special Purpose Acquisition Companies. The Company is in the process of reviewing that SEC statement and assessing the implications, if any. As a result of these two matters, our auditors are in the process of their audit of our December 31, 2020 financial statements, and it will be completed as soon as practical. Nasdaq indicated that the Company has 60 calendar days, or until June 15, 2021, to file the 2020 Form 10-K with the SEC. If the Company is unable to file the 2020 Form 10-K with the SEC by June 15, 2021, the Company intends to submit a plan to regain compliance with the Nasdaq Listing Rules on or prior to that date. If Nasdaq accepts the Company’s plan, then Nasdaq may grant an extension of up to 180 calendar days from the due date of the 2020 Form 10-K, or until October 12, 2021, to regain compliance. However, there can be no assurance that Nasdaq will accept the Company’s plan to regain compliance or that the Company will be able to regain compliance within any extension period granted by Nasdaq. If the Company fails to timely regain compliance with Nasdaq’s listing rules, the common stock of the Company will be subject to delisting on the Nasdaq Capital Market. We are continuing to work diligently to finalize and file the 2020 Form 10-K as soon as possible within the timeline prescribed by Nasdaq. About 180 Life Sciences Corp. 180 Life Sciences Corp. is a clinical-stage biotechnology company focused on the development of novel drugs that fulfill unmet needs in inflammatory diseases, fibrosis and pain by leveraging the combined expertise of luminaries in therapeutics from Oxford University, the Hebrew University and Stanford University. 180 Life Sciences is leading the research into solving one of the world’s biggest drivers of disease – inflammation. The Company is driving groundbreaking studies into clinical programs, which are seeking to develop novel drugs addressing separate areas of inflammation for which there are no effective therapies. The Company’s primary platform is a novel program to treat fibrosis using anti-TNF (tumor necrosis factor). Forward-Looking Statements This press release includes "forward-looking statements", including information about management’s view of the Company’s future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the “Act”). Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements and factors that may cause such differences include, without limitation, statements relating to expectations regarding the capitalization, resources, and funding of the Company; expectations with respect to future performance, growth and anticipated acquisitions; the continued listing of the Company on The NASDAQ Stock Market; the ability of the Company to execute its plans to develop and market new drug products and the timing and costs of these development programs; estimates of the size of the markets for its potential drug products; potential litigation involving the Company or the validity or enforceability of the intellectual property of the Company; global economic conditions; geopolitical events and regulatory changes; the expectations, development plans and anticipated timelines for the Company's drug candidates, pipeline and programs, including collaborations with third parties; access to additional financing, and the potential lack of such financing; and the Company’s ability to raise funding in the future and the terms of such funding. These risk factors and others are included from time to time in documents the Company files with the Securities and Exchange Commission, including, but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks, as well as in the definitive proxy statement/prospectus that the Company filed in connection with the recent merger. These reports and filings are available at www.sec.gov. All subsequent written and oral forward-looking statements concerning the Company or other matters and attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, including the forward-looking statements included in this press release, which are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, except as otherwise provided by law. Investors: Jason AssadDirector of IR180 Life Sciences Corp(678) 570-6791Jassad@180lifesciences.com Media Relations: David SchullDavid.Schull@russopartnersllc.com(212) 845-4271
Guy Outen, Chair of the Board and Craig Nicol, Managing Director, Chief Executive Officer and Founder, Graphene Manufacturing Group Ltd. ("GMG" or the "Company") (TSXV: GMG), and their team joined Arne Gulstene, Head, Company Services, TMX Group, to celebrate the Company's new listing on TSX Venture Exchange and close the market.
OTTAWA — The federal Liberal government plans to spend more than $18 billion over the next five years to try to narrow the socio-economic gap between Indigenous and non-Indigenous people and to help these communities fight the COVID-19 pandemic. Finance Minister Chrystia Freeland said in her budget speech the government has made progress in righting the historic wrongs in Canada’s relationship with Indigenous Peoples, but a lot of work remains be done. "It's important to note that Indigenous Peoples have led the way in battling COVID," Freeland said. "Their success is a credit to Indigenous leadership and self-governance." In its 2021 budget blueprint, the government says the new funding for Indigenous Peoples will address inequalities they continue to face in Canada and advance reconciliation with First Nations, Inuit and the Métis. The government says Indigenous communities have faced extraordinary health challenges since the start of the pandemic and continue to be vulnerable to the novel coronavirus and its variants. The budget pledges to provide Indigenous communities with an additional $1.2 billion this fiscal year to support their response to COVID-19 pandemic including money to hire nurses, provide mental health assistance, address food insecurity and support children. Prime Minister Justin Trudeau's government has announced more than $4 billion in COVID-19 funding for Indigenous communities and organizations supporting them since the beginning of the pandemic. Part of Monday's budget pledge is $1.4 billion over five years to maintain essential health care services for First Nations and Inuit, to continue work to transform First Nations health systems and to respond to the health impacts of climate change. The government promises to provide $1 billion over five years to increase funding under the First Nations child and family services program. The budget also promises to invest an additional $2.2 billion over five years to address the roots of the tragedy of missing and murdered Indigenous women and girls. The government proposes to spend more than $6 billion for infrastructure in Indigenous communities including funding for clean water projects, housing and other community infrastructure projects. Trudeau’s government has failed to deliver on its 2015 promise to end all drinking water advisories in First Nations communities by March 2021. As of April 9, 52 long-term drinking water advisories remain in effect in 33 First Nation communities across the country. The government says it’s still committed to ending all remaining advisories without providing a new deadline. This report by The Canadian Press was first published April 19, 2021. ------This story was produced with the financial assistance of the Facebook and Canadian Press News Fellowship. Maan Alhmidi, The Canadian Press
The Central and Eastern Europe Fund, Inc. (NYSE: CEE) and The New Germany Fund, Inc. (NYSE: GF) (each, a "Fund," and, collectively, the "Funds") announced today that the Annual Meeting of Stockholders for each Fund will be held at 10:00 a.m., Eastern time on June 24, 2021 at the offices of DWS Investment Management Americas, Inc., 875 Third Avenue, New York, New York 10022. As part of precautions regarding the coronavirus or COVID-19, the meeting will be held virtually via live webcast this year. Details on how to participate in the virtual meeting will be included in the proxy statement for the meeting. Holders of shares of common stock of record of the Funds at the close of business on April 30, 2021 are entitled to vote at the meeting and any postponements or adjournments thereof. At the meeting, stockholders of the Fund will consider the election of Directors and approval of auditors.
Rebates required under Obamacare could put hundreds of dollars back in your pocket.
Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of the purchasers of the securities of Arcimoto Inc. (NASDAQ: FUV), between February 14, 2018 and March 22, 2021, inclusive (the "Class Period"). The lawsuit seeks to recover damages for Arcimoto investors under the federal securities laws.
The European Equity Fund, Inc. (NYSE: EEA) (the "Fund") announced today that the Annual Meeting of Stockholders for the Fund will be held at 10:30 a.m., Eastern time on June 24, 2021 As part of precautions regarding the coronavirus or COVID-19, the meeting will be held virtually via live webcast this year. Details on how to participate in the virtual meeting will be included in the proxy statement for the meeting. Holders of shares of common stock of record of the Fund at the close of business on April 30, 2021 are entitled to vote at the meeting and any postponements or adjournments thereof. At the meeting, stockholders of the Fund will consider the election of Directors and approval of auditors. In addition, stockholders of the Fund will be asked to consider a stockholder proposal if it is properly presented at the meeting. Details of the proposal will be set forth in a proxy statement expected to be mailed to stockholders in May.
Triton Digital Releases the Latest U.S. Podcast Report for the March 2021 Reporting Period
15 startups part of global development of the future of foodNEW YORK, April 19, 2021 (GLOBE NEWSWIRE) -- Big Idea Ventures, the global leader in early stage investment in the food technology sector, with accelerators in New York and Singapore and soon in Paris, today revealed its third cohort taking part in accelerator programs. The group includes 15 early-stage startups working in the plant-based and cell-based industries, innovating new technologies for a successful shift toward a more sustainable food system. “This group of startups has been incredible to work with in the New Protein Fund,” said Andrew D. Ive, founder and general managing partner of Big Idea Ventures. “All of these companies are addressing real world challenges and represent some of the most promising innovations in the food and agriculture sectors.” Big Idea Ventures’ New Protein Fund is dedicated to seed and early stage investments in plant-based and cell-based food, ingredient and technology companies, targeted to raise $50 million since its launch in 2019. From a company creating whole muscle seafood through fermentation to one working on edible cutlery to reduce waste, BIV’s third cohort is focused on sustainably feeding a growing world population. These entrepreneurs are looking to tap into growing market opportunities across the alternative protein landscape. The 15 companies in the third cohort include:New York Accelerator • AquaCultured Foods — seafood alternative using microbial fermentation• The Frauxmagerie — plant-based cheese using cultures without dairy• Innocent Meat — B2B cell-based meat production system• incrEDIBLE — edible cutlery to reduce single-use plastics• Blue Ridge Bantam — Cell-based ground & whole-cut turkey• New Breed Meats — plant-based burgers, grounds & sausages that beat competitors’ on nutrition and taste• Plant Ranch — authentic plant-based Mexican meats Singapore Accelerator • Angie’s Tempeh — tempeh fermentation technology to create protein-rich foods• Animal Alternative Technologies — cell-based meat services including bioreactors and software• [Stealth Mode] — novel food ingredients with micro biorefinery • GreenGourmet Foods — plant-based dairy • Haofood — alternative chicken protein from peanut focused on the Asian market• MAD Foods — plant-based beverage Hybrid Accelerator (participants in both Singapore and New York) • Wellme — plant-based yogurt • Meat. The End — production technique to replicate meat-like mouthfeel and taste Over a five-month period, BIV works side by side with each company to help prepare them for growth and scale. BIV brings world-class mentors, advisors and investors to review and consult with each of the portfolio companies on their businesses. Industry connections are made so that each company can make sure its products are prepared to scale. During the pandemic, BIV has continued to provide topnotch mentorship through the use of connective technology. About Big Idea VenturesBig Idea Ventures (BIV) is solving the world's greatest challenges by supporting the world’s best entrepreneurs. Big Idea Ventures develops the most globally strategic funds delivering significant investor returns while addressing real world challenges. BIV is focused on alternative protein with its New Protein Fund, and innovations in the food industry to solve challenges in waste, water use, plastic use and carbon dioxide with its Generation Food Fund. www.bigideaventures.com Media ContactBig Idea Ventures NYC Program Manager | Kitty Liang firstname.lastname@example.org
agilon health, inc. (NYSE: AGL), which partners with primary care physicians to unlock value-based healthcare delivery, announced the closing of its initial public offering of 53,590,000 shares of its common stock at the public offering price of $23.00. The number of shares offered and sold by agilon health included the full exercise of the underwriters’ option to purchase up to an additional 6,990,000 shares of common stock. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other expenses payable by agilon health, were approximately $1,233 million.
Turquoise Hill Resources Ltd. ("Turquoise Hill" or the "Company") today announced first quarter 2021 production for Oyu Tolgoi LLC ("Oyu Tolgoi") and provided an update on the Oyu Tolgoi mine.
The Russian military said Monday that its airstrike killed about 200 militants in eastern Syria. Rear Adm. Alexander Karpov, the head of the Russian military's Reconciliation Center in Syria, said Russian warplanes hit two militant hideouts northeast of Palmyra. Karpov said in a statement carried by Russian news agencies that the air raid killed some 200 militants and destroyed 24 vehicles and about 500 kilograms (over 1,100 pounds) of ammunition and explosives.
Chatham-Kent’s arenas may be getting a sprucing up worth more than $880,000, despite “failure in the future” for the aging infrastructures. Chatham-Kent’s staff presented council with a report at a recent meeting recommending that it’s facilities, some as old as 70 years, get upgrades. The 2021 Arena Capital Asset Lifecycle projects are valued at a total of $888,950. The report does not include the cost for each individual arena’s renovation in order to ensure a competitive bidding process for contractors. With no luck on provincial funding for Chatham-Kent’s multi-sports complex concept with a twin-pad arena, the municipality is stuck with what it's got for the time being. At the meeting, East Kent Coun. Anthony Ceccacci asked staff how the aging arenas would hold up in catastrophic failures and if there were contingency plans in place. “We've gone through that in great detail with all of our arenas. And we have a number of concerns that over the next 10 years we estimate in order to keep these facilities running we'll have to spend in the neighbourhood of $19 million. So that's about an average $2 million per arena,” said Thomas Kelly, general manager of Infrastructure And Engineering Services. The oldest arena in need of an upgrade is Wallaceburg Memorial, built in 1948. The youngest arena is the Chatham Thames Campus built in 1991. Kelly said the biggest concerns are the concrete in seven of the 10 arenas with potential repairs that could run in excess of $1 million. The repairs would come out of the assess management plan which is currently underfunded, Kelly said. “We will have a situation where one day the concrete floor will fail. And as a result we'll have to replace the entire structure. So, when that happens, we will definitely have our facilities down, and the option to avert that is to proactively start to take the floors, one at a time every year,” Kelly said. Jenna Cocullo, Local Journalism Initiative Reporter, The Chatham Voice
TORONTO — North American stock markets slipped from record highs to start the trading week as investors paused while they wait to see if earnings results in the coming weeks meet lofty expectations. "We have reached record highs on Friday so I think investors are just taking a break, taking a pause, and they're waiting for the earnings results that we're going to see this week and next week," said Pierre Cleroux, chief economist for the Business Development Bank of Canada. The S&P/TSX composite index closed down 146.90 points to 19,204.42 after climbing as high as 19,380.68 on Friday. In New York, all three stock markets lost ground after the Dow Jones industrial average and S&P 500 set new records. The Dow lost 123.04 points at 34,077.63 and the S&P 500 was down 22.21 points at 4,163.26. The tech-heavy Nasdaq composite was down 137.57 points at 13,914.77. The tech sector was down in Canada and the U.S. after a few strong weeks. Shares of Shopify Inc. decreased 5.2 per cent while Lightspeed POS Inc. was 3.6 per cent lower. The U.S. tech sector was hurt from a 3.7 per cent decrease in Tesla shares after two people in Texas were killed in a crash of one of its models. Cleroux doesn't see Monday's move in the sector to be worrying. "I don't think it's a reverse of trend. I think it's just the fact that these stocks have been increasing so much over the last few weeks so the investors are taking a break and waiting to see the earnings." Monday's federal budget might provoke some market reaction on Tuesday, while good economic data has helped the strong market performances of late, he said in an interview. Investor sentiment has been supported in the U.S. by high numbers of COVID-19 vaccinations that are expected to be a key element of economic growth. The first quarterly earnings last week from U.S. banks were very strong, raising expectations for the first quarter as a whole. "If the results are as positive as expected, I think the market will continue to be good, while if the opposite, we'll have a tough week," said Cleroux. The Canadian economy has been resilient despite the pandemic as employment has almost entirely recovered from losses last year. On Monday, the annual pace of housing starts soared 21.6 per cent in March compared with February, according to Canada Mortgage and Housing Corp.'s latest report. The results didn't directly impact the stock market but was positive news about the economy, said Cleroux. Nine of the 11 major sectors of the TSX were lower on the day, with only consumer staples and telecommunications higher. Besides technology, materials, energy and industrials were among the biggest laggards. Materials dropped 0.76 per cent on lower gold prices. The June gold contract was down US$9.60 at US$1,770.60 an ounce and the May copper contract was up seven cents at nearly US$4.24 a pound. Energy was also impacted by a decrease in crude oil prices after the commodity's recent acceleration. The June crude contract was up 24 cents at US$63.43 per barrel and the May natural gas contract was up 6.9 cents at US$2.75 per mmBTU. Whitecap Resources Inc. was down 3.1 per cent while Vermilion Energy Inc. lost 1.8 per cent and Seven Generations Energy Ltd. was down 1.4 per cent. The Canadian dollar traded for 79.88 cents US compared with 79.98 cents US on Friday. This report by The Canadian Press was first published April 19, 2021. Companies in this story: (TSX:WCP, TSX:VET, TSX:VII, TSX:SHOP, TSX:LSPD, TSX:GSPTSE, TSX:CADUSD=X) Ross Marowits, The Canadian Press
TORONTO — The Ontario government rejected efforts to support essential workers with paid sick leave Monday while admitting its now-reversed moves to close playgrounds and grant police sweeping enforcement powers had been a mistake. Health experts and advocates have been calling on the government to bring in paid sick days and shut down non-essential workplaces for weeks, saying the measures could help the province fight soaring COVID-19 cases that are threatening to overwhelm the health-care system. The Progressive Conservatives rejected Opposition motions on both issues, with government House Leader Paul Calandra saying he expected the federal government to announce further enhancements to their sick-day program. "We expect that those changes will include a paid vaccination day for essential workers, and that it will include an elimination of the gap between when workers apply and receive benefits," he said. "We're anxiously awaiting (that)." Calandra also said some of the restrictions announced by Premier Doug Ford on Friday had been a mistake but had been introduced to limit public gatherings and mobility. "We made a decision based on trying to really get people to realize just how important it is that they stay home," Calandra said. "(It was) poorly communicated, poorly executed, and ultimately, I think we made the right decision in turning back on that." Among the measures announced Friday were a closure of all playgrounds as well as an order giving police the right to stop anyone to ask why they were out and request their home address. Both were rolled back over the weekend. The co-chair of Ontario's COVID-19 science advisory table said he nearly resigned out of "desperation" on Friday when he saw that the province had not followed some of his group's most basic recommendations, including advice on protecting essential workers. Dr. Peter Juni said the science table did not recommend closing playgrounds or giving police wide-ranging enforcement powers and had instead recommended paid sick days for essential workers and the temporary closure of more non-essential workplaces. "This pandemic has been, and will be even more so in the future, a pandemic of essential workers and their families," he said in an interview. "If we do not support and protect essential workers and their families appropriately, the challenges will continue." Asked Monday if Ontario needs to close more non-essential businesses, the province's top doctor said it is something the government could look at. "What some people may not think is essential, someone else may say 'that is so essential,' and the people want that service available to them," said Dr. David Williams. "So it's not a clear-cut answer in some people's minds." NDP Leader Andrea Horwath, who had presented the motions on paid-sick leave and the closure of non-essential workplaces, said Ford's government was failing the province. "ICUs are overrun, and people with COVID-19 are laying in hospital hallways in agony. More people will get sick, and many will die if we don't put powerful public health measures in place right away," she said. Toronto's top doctor said Monday that Ontario needs provisions that allow workers to self-isolate and avoid spreading the virus to others. "This includes paid sick days – even on a temporary emergency basis, so that people can afford to stay home if they're sick," Dr. Eileen de Villa said. "The science supports this. As well, we need measures that will meaningfully limit transmission to make it harder for the virus to spread." Liberal Leader Steven Del Duca called for Ford to resign. "Doug Ford is the worst premier in Ontario history at a time when leadership matters the most," he said in a statement. "He should resign now before he makes things any worse." Green party Leader Mike Schreiner said Ford's government had "lost the trust and confidence of the people of Ontario." Ontario reported 4,447 new cases of COVID-19 on Monday and 19 more deaths linked to the virus. There are currently 2,202 people hospitalized across the province due to COVID-19, with 755 people in intensive care units and 516 on a ventilator, according to government data. The pressure on the health-care system comes as the province announced Sunday that residents 40 and older would be able to get Oxford-AstraZeneca vaccines at pharmacies and doctors' offices starting on Tuesday. Ford's office said Monday, however, that the province had been advised that delivery of Oxford-AstraZeneca shots expected for later this month may be delayed. "As we look to expand our rollout of AstraZeneca to younger age groups and into more pharmacies, any delays to vaccine shipments would be devastating for Ontario right now," Ford said in a statement. This report by The Canadian Press was first published April 19, 2021. Shawn Jeffords, The Canadian Press
Intigold Mines Ltd. – (the "Company" or "Intigold") advises that it has completed the acquisition (the "Transaction") of Calibri Resources Inc. ("Calibri"), a private British Columbia company. In accordance with the terms of the Transaction, Calibri has amalgamated with a wholly-owned subsidiary of the Company, 1293173 B.C. Ltd. ("Subco") pursuant to the terms of an amalgamation agreement among Intigold, Calbiri and Subco.