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WeedMD to Trade on the TSX Venture Exchange

27 April 2017 - 7:14am

TORONTO, April 27, 2017 (GLOBE NEWSWIRE) -- WeedMD Inc. (TSX-V:WMD) (“WeedMD” or the “Company”) is pleased to announce the Company will begin trading on the TSX Venture Exchange under the symbol WMD when the market opens today.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/6ca3ad0e-935e-4c6e-aaa0-607095da5cd7

“Listing on the TSX Venture Exchange represents another important milestone for WeedMD and our corporate growth plan, providing liquidity for our existing shareholders, providing access to a budding investor base that is interested in the cannabis sector, and positioning WeedMD to raise capital to fund future growth opportunities,” said Bruce Dawson-Scully, CEO of WeedMD.

WeedMD is a licensed producer of medical cannabis under the ACMPR and plans to be Canada’s first producer focused on the long-term and retirement sector by leveraging the Company’s deep industry relationships and expertise. Management believes senior patients represent a significantly higher value market segment than typical ACMPR patients. This is due in large part to consistent treatment schedules and the cost-effective nature of patient acquisition and servicing associated with long-term care facilities.

“Based on our decades of experience in senior care, WeedMD management’s goal is to provide safe and effective alternatives to symptom management for seniors,” said CEO Bruce Scully.

WeedMD operates in a fully retrofitted 26,000 sq. ft. indoor facility in Aylmer, Ontario, on four (4) acres of land and has an option to acquire four (4) acres of neighboring land, which combined could support the construction of more than 220,000 sq. ft. of new production space. With $6.0 million in working capital and building permits approved, WeedMD is strategically positioned to deliver on its next phase of growth.

In addition to listing on the TSX Venture Exchange, WeedMD is executing on several value-generating licensing and business milestones in the near future, including:

  • Sales License: WeedMD has completed the review and inspection process with Health Canada and is currently awaiting results that, if approved, would allow it to sell dried flower product to patients. The Company expects to receive its sales license in the second quarter of 2017.
  • Commercial Extraction Laboratory: WeedMD will commence building out a commercial extraction laboratory and expects construction to be completed in the second quarter of 2017.
  • Extracts Production License: WeedMD will apply for an amendment to its ACMPR license to allow the Company to begin medical cannabis oil production upon the successful completion and buildout of its extracts lab. Assuming buildout of the lab in Q2/17, WeedMD expects to receive an amendment allowing for extract production in the summer of 2017.
  • Expansion Plan: With building permits approved and in place, WeedMD’s next phase of growth – expanding from 26,000 sq. ft. to over 220,000 sq. ft. The Company has an additional 100 acres of nearby land for potential future expansion, and is actively looking at alternatives to accelerate go-to-market as Canada’s recreational market is expected to launch on or before July 1, 2018.

“I would like to thank our management and the entire WeedMD team for their tremendous commitment and efforts over the past years. We’re very excited to introduce WeedMD to the public markets and to expand our shareholder base, especially now ahead of a number of exciting milestones and catalysts that will advance the growth of our company as we execute on our corporate strategy,” said Chairman Michael Kraft.

In connection with the Company’s Qualifying Transaction (as defined by the policies of the TSX Venture Exchange), the Company issued 116,667 shares to Eight Capital as consideration for its sponsorship report prepared with respect to the transaction.

For more information, access our investor presentation on our website here. Also, please see the filing statement as posted on SEDAR on March 31, 2017 here with respect to our qualifying transaction with Aumento Capital V Corp.

About WeedMD Inc.

WeedMD Inc. is a licensed producer of medical cannabis pursuant to the Access to Cannabis for Medical Purposes Regulations (ACMPR). WeedMD operates a 26,000 square foot, scalable production facility in Aylmer, Ontario with four acres of property for future expansion. WeedMD is focused on providing consistent, quality medicine to the long-term care and assisted living markets in Canada through its comprehensive platform developed exclusively for that industry. WeedMD is dedicated to educating healthcare practitioners and furthering public understanding of the role medical cannabis can play as a viable alternative to prescription medication in relieving a variety of chronic medical conditions and illnesses.

Follow WeedMD On:

https://www.facebook.com/weedmd/
https://www.linkedin.com/company-beta/5020743/
https://twitter.com/WeedMD 
https://www.instagram.com/weedmd/

To learn more, visit us at www.weedmd.com

Forward-Looking Information

This press release contains forward-looking information based on current expectations. Statements about the date of trading of the Company's common shares on the Exchange and final regulatory approvals, among others, are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

CONTACT: For further information, please contact: WeedMD Inc. Keith Merker, Chief Financial Officer Tel: 519-765-2440 Ext. 222 Email: keith@weedmd.com
Categories: State

John Marshall’s Center for Real Estate Law Examines the Impact of Medical Marijuana on Real Estate

26 April 2017 - 10:36am

Chicago, April 26, 2017 (GLOBE NEWSWIRE) -- Medical marijuana is now legal in 30 states, including Illinois. So what is the effect of this growing industry on real estate?

John Marshall Law School’s Center for Real Estate Law convened a panel of national experts including lawyers, real estate developers, investors and medical marijuana entrepreneurs to discuss the impact at its “Marijuana’s Disruptive Effects” event on April 18.

“Peter Eisenberg (’00) and John Collins, principals of Clark Street Real Estate brainstormed with me nearly a year ago about disruptive forces in the real estate industry and in the law. The legalization of medical marijuana is a disruptive force to other long-legal drug companies and to those distributing alcohol and tobacco as well.  As a ‘disruptive innovation’ from illegal to legal the industry calls for a response from communities where the cultivation and distribution of medical marijuana occur,” said John Marshall Law School Professor Celeste Hammond, Director of the Center for Real Estate.

“In what has been called a ‘legality innovation’ the law will respond. In addition to impact on both public/government and private land use restriction, real estate attorneys will help to support the role of banks, title insurance,  and the real estate that serve as leasing sites for marijuana to grow and be sold.  There will be implications even for climate change as the newly legal industry requires huge amounts of water and energy. The disruption is more exciting and more important than I imagined,” said Hammond.

In a wide-ranging discussion, the panelists agreed that legalized marijuana usage for medicinal and recreational purposes will continue to grow nationwide and advised audience members to keep abreast of changes in federal and state laws to knowledgeably participate in the industry.

The panelists also discussed the importance of learning how to navigate zoning and land use regulations. Since most zoning and land use regulations were drafted before legalized cannabis was contemplated, lawyers, entrepreneurs and real estate professionals need to understand both the laws and creative ways to operate around existing codes, the experts said.

Commercial, retail and industrial leases also pose a thicket of issues. Because cannabis is so highly regulated, the panelists advised audience members to scrutinize leases because standard provisions may conflict with regulations for cannabis. The panelists also discussed how banking laws can impact the payment of rent and security deposits. “You don’t want to be paid with a duffel bag full of cash,” Robert Sistek, the chief financial officer of Innovative Industrial Properties, said about a very real problem businesses in the legalized cannabis industry face.

Joining Sistek on the panel were Jason Divelbiss of the Hagerstown, Maryland law firm Divelbiss & Wilkinson; Bryna Dahlin of the Chicago law firm Rollman & Dahlin; Bob Morgan of the Chicago law firm Much Shelist; and Pete Kadens, the chief executive officer of Green Thumb Industries. John Collins, a principal of Clark Street Real Estate in Chicago, served as the moderator.

 

About the Center for Real Estate Law at The John Marshall Law School

The Center for Real Estate Law is dedicated to educating and training the next generation of real estate attorneys and real estate professionals in the substance and practice of commercial real estate law. In addition to providing our degree candidates with a superior education in a transactional context, we are committed to promoting research and scholarship in the field of commercial real estate and practice.

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/5546fc26-5a4d-4da8-8839-abe34e5139e8

CONTACT: The John Marshall Law School 312 -427-2737 jchanen@jmls.edu
Categories: State

Lubrizol Announces Winners of TPU DesignFEST

25 April 2017 - 6:01am

 

CLEVELAND, April 25, 2017 - The Lubrizol Corporation's Engineered Polymers business announces the winners of its premiere TPU DesignFEST challenge. Held on April 24, 2017, the competition was conducted in collaboration with the newly chartered Outdoor Product Design & Development (OPDD) Department at Utah State University.

Lubrizol created TPU DesignFEST to help students gain real-world design experience by working in teams to apply creativity and practical research to the design of performance-oriented sports and outdoor recreational applications that incorporate Lubrizol's innovative TPU (thermoplastic polyurethane) material solutions including BounCell-X(TM) TPU high performance foams and Estane® TPU TRX for high traction. Student teams competed for cash prizes and public recognition by using these innovative new products at the core of their designs for demanding, high performance applications such as footwear, apparel, sporting goods, outdoor equipment / gear and accessories. 

Congratulations to the winning teams:

  • 1st Place - Padded sports gloves with enhanced cushioning and wear-resistant grip  
    • Ryan Anderson
    • Nathan Larsen
  • 2nd Place - Skateboarding shoes with superior impact absorption and abrasion resistance
    • Logan Reese
    • Tyler Stewardson
  • 3rd Place - Medical crutches with improved comfort, cushioning and grip
    • Russ Jones
    • Zach Wootton

 "We are excited to announce the winners of the initial TPU DesignFEST contest," says Kenneth Kim, global sports and recreation market development manager, Lubrizol Engineered Polymers. "TPU DesignFEST was a great opportunity to challenge students to envision and explore the exciting possibilities for TPU in the next generation of outdoor products, while competing for cash prizes and skill development to enhance their education and future career development.

Lubrizol's innovative TPU technologies, such as BounCell-X(TM) TPU high performance foams and Estane® TPU TRX for high traction, are versatile, high-quality polymer solutions that offer critical-to-quality benefits to a wide-range of applications."

TPU DesignFEST entries were judged by a panel of industry experts who assessed each design on the basis of performance, practicality, aesthetics and sustainability. A special thank you to all the judges who participated in TPU DesignFEST:

  • Derek Campbell, Engineering Director - CamelBak® Products, LLC
  • Patrick Choe, Vice President, Product Development - Sperry® (Wolverine Worldwide)
  • David Grace, Hard Goods Validation Manager - Burton® Snowboards
  • Emily Walzer, Editor, Textile Insight - Formula4Media®
  • Julie Shlepr, Business Development Director - Lubrizol Engineered Polymers
  • Peter Jung, Application Development Scientist - Lubrizol Engineered Polymers    

Utah State University's Outdoor Product Design and Development program is the first such four-year bachelors degree of its kind, having been guided by input from industry leaders such as Black Diamond®, Cabelas®, Patagonia® and Northwest River Supplies®.  Launched in 2016, the program trains tomorrow's leaders in soft and hard goods, with an emphasis on hands-on learning, internships, and a mix of design, materials and business training.

About Lubrizol Engineered Polymers
Lubrizol Engineered Polymers offers one of the broadest portfolios of engineered polymers available today including resins that are bio-based*, recyclable**, light stable, flame retardant, adhesive, chemically resistant, optically clear and fast cycling. Our technology crosses many industries and applications, including surface protection, power and fluid systems, sports and recreation, wearable devices, electronics and automotive. For more information, visit www.lubrizol.com/engineeredpolymers or contact engineeredpolymers@lubrizol.com.

About The Lubrizol Corporation
The Lubrizol Corporation, a Berkshire Hathaway company, is a technology-driven global company that combines complex, specialty chemicals to optimize the quality, performance and value of customers' products while reducing their environmental impact. It produces and supplies technologies to customers in the global transportation, industrial and consumer markets. These technologies include lubricant additives for engine oils, driveline and other transportation-related fluids, industrial lubricants, as well as additives for gasoline and diesel fuel. In addition, Lubrizol makes ingredients and additives for home care and personal care products and specialty materials encompassing polymer and coatings technologies, with polymer-based pharmaceutical and medical device solutions. Our products for the oilfield market include technologies for exploration, production and transportation.

With headquarters in Wickliffe, Ohio, Lubrizol owns and operates manufacturing facilities in 17 countries, as well as sales and technical offices around the world. Founded in 1928, Lubrizol has approximately 9,000 employees worldwide. Revenues for 2015 were $7 billion. For more information, visit Lubrizol.com.

* Bio-based content as certified in accordance with ASTM D-6866.
** Recyclability is based on access to a readily available standard recycling program that supports such materials. Products may not be recyclable in all areas.

Media Contact
Michael Priola
+1-216-447-5697

Websites:
www.lubrizol.com
www.lubrizol.com/engineeredpolymers

# # #

Categories: State

Irving A. Backman and SARC GLOBAL Celebrate Earth Day 2017 with Breakthrough Technologies to Deliver Clean Drinking Water to the World

21 April 2017 - 1:50pm

DEDHAM, MA and NEWBURYPORT, MA--(Marketwired - Apr 21, 2017) - Irving A. Backman, internationally renowned benefactor of sustainability and advanced technology initiatives and the leader of The DATT Group (Developers of Advanced Technology Today) celebrates Earth Day 2017 (April 22) in conjunction with SARC GLOBAL, creators of breakthrough engineered solutions to the world's shortage of drinkable water.

While two-thirds of Earth is covered by water, the amount of healthy drinking water is shrinking dramatically because of chemical and industrial pollution, a continually worsening situation throughout our lakes, rivers, ponds, multiple recreational areas, oceans, harbors and all seaports that can no longer be tolerated. 

Irving A. Backman & Associates and the DATT Group, in concert with SARC Global, are bringing to market breakthrough technologies to remediate or decontaminate the current supply of safe drinking water. 

Toxic substances such as bacteria, parasites, heavy metals used in mining industries such as mercury and cyanide, gold, and precious metals can be identified in advance and removed, producing potable or clean drinking water for human consumption and industrial usage. 

New, Low-weight Portable Water Remediation and Purification System (WRPS)

A small WRPS unit, approximately 5 to 6 cubic feet and weighing only 75 to 100 pounds, can process up to 25,000 gallons of contaminated water per day. Systems exceeding One Million gallons daily are equally scalable

Availability of the WRPS within the second quarter of 2017 means clean, drinkable water can be available anywhere in the world -- from the deserts of Africa to the jungles of South America. Additionally, separation and collection of high value minerals, oils or chemicals will also now become possible without the use of any costly chemicals or environmentally questionable materials.

Advanced Technology to Conquer the Worldwide Catastrophe of Dirty Ballast Water

The worsening problem of ballast water common to all marine vessels demands new thinking and approaches to keep the oceans and ports clean. A typical large container ship or bulk carrier contains up to a million gallons of ballast water. Unfortunately, as ballast water is either discharged or brought onboard to maintain proper balance, a wide variety of pollutants are dumped into the ocean. Invasive species, organic materials, bacteria, and toxic chemicals are polluting the world's oceans as well as every harbor and seaport at an alarming rate.

Titled DABB, (Decontamination and Bioremdiation of Ballast) the organization has created a sophisticated engineered solution for dealing with this global crisis. It utilizes advanced filtration and fluid separation technology without the use of costly traditional filters membranes and toxic chemicals and is a major step forward in combatting pollution of the oceans and our treasured harbors and ports.

About Irving A. Backman & Associates, LLC and the DATT Group (Developers of Advanced Technology Today)

For almost four decades, Mr. Backman has led a team of scientists, developers, entrepreneurs and business professionals dedicating their intellectual resources and skills for the advancement of earth-friendly technologies relating to the reduction of global warming and climate change.

Irving A. Backman & Associates, LLC is headquartered in Dedham, MA. 

Visit www.iabackman.com

Categories: State

National General to Host Investor Day in New York City on Thursday, May 18, 2017

21 April 2017 - 11:00am

NEW YORK, April 21, 2017 (GLOBE NEWSWIRE) -- National General Holdings Corp. (Nasdaq:NGHC) today announced that it will host an Investor Day to be held at the Four Seasons Hotel New York Downtown on Thursday May 18, 2017.  Members of senior management will present from 10:00 AM ET to 3:00 PM ET.

A live webcast will be available on National General’s investor relations website at http://ir.nationalgeneral.com/events.cfm.  A replay of the webcast will be available following the event.

For additional information, please contact Christine Worley, Director of Investor Relations.

About National General Holdings Corp.
National General Holdings Corp., headquartered in New York City, is a specialty personal lines insurance holding company. National General traces its roots to 1939, has a financial strength rating of A- (excellent) from A.M. Best and provides personal and commercial automobile, homeowners, umbrella, recreational vehicle, motorcycle, supplemental health, and other niche insurance products.

CONTACT: Investor Contact Christine Worley Director of Investor Relations Phone: 212-380-9462 Email: Christine.Worley@NGIC.com
Categories: State

Manhattan Associates Reports First Quarter 2017 Performance

20 April 2017 - 3:05pm

ATLANTA, April 20, 2017 (GLOBE NEWSWIRE) -- Leading Supply Chain Commerce Solutions provider Manhattan Associates, Inc. (NASDAQ:MANH) today reported GAAP diluted earnings per share for the first quarter ended March 31, 2017 of $0.40 compared to $0.38 in Q1 2016, on record license revenue of $22.8 million and total revenue of $143.5 million. Non-GAAP adjusted diluted earnings per share was $0.42 in both Q1 2017 and Q1 2016.

“Our first quarter results reflect the balance between strong license fee performance and retail macro challenges. Q1 represents another record license quarter with solid pipeline activity in all three regions against a strong comparable. Our Professional Services business continues to experience headwinds muting solid financial performance across all other key metrics,” said Eddie Capel, president and chief executive officer of Manhattan Associates.

“We expect that retail market headwinds will persist throughout 2017 as many retailers address strategic challenges with enterprise transformation. While those transformations bring opportunities for Manhattan, they can also slow decision making.  Given the outlook, we have lowered our revenue expectations for the year while maintaining our earnings per share guidance. More importantly, we continue to be very bullish on the market opportunity ahead of us and are investing significant energy and capital into innovation and advancing the world’s leading suite of Supply Chain Commerce solutions to extend our market leadership in 2017 and beyond.”

FIRST QUARTER 2017 FINANCIAL SUMMARY:

  • GAAP diluted earnings per share was $0.40 in Q1 2017, compared to $0.38 in Q1 2016.
  • Adjusted diluted earnings per share, a non-GAAP measure, was $0.42 in both Q1 2017 and Q1 2016.
  • Consolidated total revenue was $143.5 million in Q1 2017, compared to $149.9 million in Q1 2016. License revenue was $22.8 million in Q1 2017, compared to $20.6 million in Q1 2016.
  • GAAP operating income was $41.7 million in Q1 2017, compared to $43.1 million in Q1 2016.
  • Adjusted operating income, a non-GAAP measure, was $46.3 million in Q1 2017, compared to $47.9 million in Q1 2016.
  • Cash flow from operations was $61.3 million in Q1 2017, compared to $40.4 million in Q1 2016. Days Sales Outstanding was 53 days at March 31, 2017, compared to 63 days at December 31, 2016.
  • Cash and investments totaled $101.3 million at March 31, 2017, compared to $95.6 million at December 31, 2016.
  • During the three months ended March 31, 2017, the Company repurchased 1,003,868 shares of Manhattan Associates common stock under the share repurchase program authorized by the Board of Directors, for a total investment of $50.0 million. In April 2017, the Board of Directors authorized the Company to repurchase up to an aggregate of $50 million of the Company’s common stock.

SALES ACHIEVEMENTS:

  • Recognized license revenue of $1.0 million or more on four new contracts during Q1 2017.
  • Completed software license wins with new customers such as: Aldi South, David Jones, Esselunga, Everything But Water, Fenix Outdoor International, GER Innflutningur, PFD Food Services, Restaurant Brands International and Xiamen Tianma Micro-Electronics.
  • Expanded relationships with existing customers such as: 1912, Alliance Healthcare, Belk, Carolina Logistics Services, Chico’s, Dentsply International, Essilor of America, Fasteners for Retail, Five Below, Gunze Distribution, Hayneedle, Kurt Geiger, Langham Logistics, LeSaint Logistics, Nortek, Paul Smith, Precision Planting, PT Lion Super Indo, Recreational Equipment, Redmart, Ryder Integrated Logistics, Sonae, Southern Glazer’s Wine & Spirits, Staples, Telebrands Corporation, The Container Store, The Jay Group, The Honest Company, Ulta Beauty, UPS Supply Chain, UWT Logistics and West Coast Distribution.

2017 GUIDANCE

Manhattan Associates provides the following revenue and diluted earnings per share guidance for the full year 2017:

  Guidance Range - 2017 Full Year
  ($'s in millions, except EPS)$ Range
 % Growth Range
                    Total revenue - current guidance$606  $620   0%   3%                     Total revenue - previous guidance$622  $632   3%   5%                     Diluted earnings per share (EPS):                 GAAP EPS - current guidance$1.77  $1.81   3%   5%   Equity-based compensation, net of tax 0.12   0.12           Purchase amortization, net of tax -   -           Adjusted EPS(1) - current guidance$1.89  $1.93   1%   3%                     GAAP EPS - previous guidance$1.74  $1.78   1%   3%   Equity-based compensation, net of tax 0.15   0.15           Purchase amortization, net of tax -   -           Adjusted EPS(1) - previous guidance$1.89  $1.93   1%   3%                                       (1) Adjusted EPS is a Non-GAAP measure which excludes the impact of equity-based compensation   and acquisition-related costs, and the related income tax effects of both.                                      

Manhattan Associates currently intends to publish, in each quarterly earnings release, certain expectations with respect to future financial performance. Those statements, including the guidance provided above, are forward looking. Actual results may differ materially. Those statements, including the guidance provided above, do not reflect the potential impact of mergers, acquisitions or other business combinations that may be completed after the date of the release.

Manhattan Associates will make its earnings release and published expectations available on its website (www.manh.com). Following publication of this earnings release, any expectations with respect to future financial performance contained in this release, including the guidance above, should be considered historical only, and Manhattan Associates disclaims any obligation to update them.

CONFERENCE CALL

The Company’s conference call regarding its first quarter financial results will be held today, April 20, 2017, at 4:30 p.m. Eastern Time. Investors are invited to listen to a live webcast of the conference call through the investor relations section of Manhattan Associates' website at www.manh.com. To listen to the live webcast, please go to the website at least 15 minutes before the call to download and install any necessary audio software.

For those who cannot listen to the live broadcast, a replay can be accessed shortly after the call by dialing +1.855.859.2056 in the U.S. and Canada, or +1.404.537.3406 outside the U.S., and entering the conference identification number 85400037 or via the web at www.manh.com. The phone replay will be available for two weeks after the call, and the Internet webcast will be available until Manhattan Associates’ second quarter 2017 earnings release.

GAAP VERSUS NON-GAAP PRESENTATION

The Company provides adjusted operating income, adjusted net income and adjusted diluted earnings per share in this press release as additional information regarding the Company’s historical and projected operating results. These measures are not in accordance with – or alternatives to – GAAP, and may be different from non-GAAP operating income, non-GAAP net income and non-GAAP earnings per share measures used by other companies. The Company believes that the presentation of these non-GAAP financial measures facilitates investors’ ability to understand and compare the Company’s results and guidance, because the measures provide supplemental information in evaluating the operating results of its business, as distinct from results that include items that are not indicative of ongoing operating results, and because the Company believes its peers typically publish similar non-GAAP measures. This release should be read in conjunction with the Company’s Form 8-K earnings release filing for the three months ended March 31, 2017. 

Non-GAAP adjusted operating income, adjusted income tax provision, adjusted net income and adjusted diluted earnings per share exclude the impact of equity-based compensation and acquisition-related costs and the amortization thereof – all net of income tax effects. Reconciliations of the Company’s GAAP financial measures to non-GAAP adjustments are included in the supplemental information attached to this release.

ABOUT MANHATTAN ASSOCIATES

Manhattan Associates is a technology leader in supply chain and omni-channel commerce. We unite information across the enterprise, converging front-end sales with back-end supply chain execution. Our software, platform technology and unmatched experience help drive both top-line growth and bottom-line profitability for our customers. 

Manhattan Associates designs, builds and delivers leading edge cloud and on-premise solutions so that across the store, through your network or from your fulfillment center, you are ready to reap the rewards of the omni-channel marketplace. For more information, please visit www.manh.com.

This press release contains “forward-looking statements” relating to Manhattan Associates, Inc.  Forward-looking statements in this press release include the information set forth under “2017 Guidance.” Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: uncertainty about the global economy, delays in product development, competitive pressures, software errors, information security breaches and the risk factors set forth in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. Manhattan Associates undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results.

MANHATTAN ASSOCIATES, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Income
(in thousands, except per share amounts)
     Three Months Ended March 31,   2017  2016   (unaudited)  (unaudited) Revenue:        Software license $22,773  $20,607 Services  108,833   116,263 Hardware and other  11,883   12,990 Total revenue  143,489   149,860 Costs and expenses:        Cost of license  2,240   3,152 Cost of services  49,743   51,904 Cost of hardware and other  9,638   9,757 Research and development  14,225   14,706 Sales and marketing  11,789   12,588 General and administrative  11,872   12,448 Depreciation and amortization  2,262   2,206 Total costs and expenses  101,769   106,761 Operating income  41,720   43,099 Other (loss) income, net  (371)  520 Income before income taxes  41,349   43,619 Income tax provision  13,125   16,139 Net income $28,224  $27,480          Basic earnings per share $0.40  $0.38 Diluted earnings per share $0.40  $0.38          Weighted average number of shares:        Basic  69,973   72,630 Diluted  70,247   73,020 


MANHATTAN ASSOCIATES, INC. AND SUBSIDIARIES
Reconciliation of Selected GAAP to Non-GAAP Measures
(in thousands, except per share amounts)
     Three Months Ended March 31,   2017  2016          Operating income $41,720  $43,099 Equity-based compensation (a)  4,472   4,688 Purchase amortization (c)  107   107 Adjusted operating income (Non-GAAP) $46,299  $47,894                   Income tax provision $13,125  $16,139 Equity-based compensation (a)  1,632   1,734 Tax benefit of stock awards vested (b)  1,968   - Purchase amortization (c)  39   40 Adjusted income tax provision (Non-GAAP) $16,764  $17,913                   Net income $28,224  $27,480 Equity-based compensation (a)  2,840   2,954 Tax benefit of stock awards vested (b)  (1,968)  - Purchase amortization (c)  68   67 Adjusted net income (Non-GAAP) $29,164  $30,501                   Diluted EPS $0.40  $0.38 Equity-based compensation (a)  0.04   0.04 Tax benefit of stock awards vested (b)  (0.03)  - Purchase amortization (c)  -   - Adjusted diluted EPS (Non-GAAP) $0.42  $0.42          Fully diluted shares  70,247   73,020 

(a) Adjusted results exclude all equity-based compensation, to facilitate comparison with our peers and for the other reasons explained in our Current Report on Form 8-K filed with the SEC on the date hereof. Equity-based compensation is included in the following GAAP operating expense lines for the three months ended March 31, 2017 and 2016:

   Three Months Ended March 31,    2017  2016           Cost of services  $1,141  $1,279 Research and development   720   754 Sales and marketing   667   685 General and administrative   1,944   1,970 Total equity-based compensation  $4,472  $4,688 

(b) During the first quarter of 2017, we adopted Accounting Standards Update (ASU) 2016-09, Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting, to improve the accounting for employee share-based payments. Under the new guidance, all excess tax benefits and certain tax deficiencies are recognized as income tax expense or benefit in the income statements on a prospective basis, rather than recorded in additional paid-in capital. The adjustment represents the excess tax benefits of the stock awards vested during the period. Excess tax benefits occur when the amount deductible for an award of equity instruments on our tax return is more than the cumulative compensation cost recognized for financial reporting purposes. As discussed above, we excluded equity-based compensation from adjusted non-GAAP results to be consistent with other companies in the software industry.  Therefore, we also excluded the related tax benefit generated upon their vesting. 

(c) Adjustments represent purchased intangibles amortization from prior acquisition. Such amortization is excluded from adjusted results to facilitate comparison with our peers, to facilitate comparisons of the results of our core operations from period to period and for the other reasons explained in our Current Report on Form 8-K filed with the SEC on the date hereof.


MANHATTAN ASSOCIATES, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(in thousands, except share and per share data)
     March 31, 2017  December 31, 2016   (unaudited)     ASSETS        Current Assets:        Cash and cash equivalents $89,208  $95,615 Short-term investments  12,051   - Accounts receivable, net of allowance of $3,900 and $3,595, respectively  84,076   100,285 Prepaid expenses and other current assets  14,759   11,118 Total current assets  200,094   207,018          Property and equipment, net  16,525   17,424 Goodwill, net  62,230   62,228 Deferred income taxes  898   2,867 Other assets  7,595   7,603 Total assets $287,342  $297,140          LIABILITIES AND SHAREHOLDERS' EQUITY        Current liabilities:        Accounts payable $11,213  $12,052 Accrued compensation and benefits  18,866   20,700 Accrued and other liabilities  11,929   12,510 Deferred revenue  70,751   63,457 Income taxes payable  17,057   8,924 Total current liabilities  129,816   117,643          Other non-current liabilities  9,658   10,131          Shareholders' equity:        Preferred stock, no par value; 20,000,000 shares authorized, no shares issued or outstanding in 2017 and 2016  -   - Common stock, $0.01 par value; 200,000,000 shares authorized; 69,443,299 and 70,233,955 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively  694   702 Retained earnings  161,175   184,558 Accumulated other comprehensive loss  (14,001)  (15,894)Total shareholders' equity  147,868   169,366 Total liabilities and shareholders' equity $287,342  $297,140 


MANHATTAN ASSOCIATES, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Cash Flows
(in thousands)
     Three Months Ended March 31,   2017  2016   (unaudited)  (unaudited) Operating activities:        Net income $28,224  $27,480 Adjustments to reconcile net income to net cash provided by operating activities:        Depreciation and amortization  2,262   2,206 Equity-based compensation  4,472   4,688 Loss on disposal of equipment  20   3 Tax benefit of stock awards exercised/vested  -   5,023 Excess tax benefits from equity-based compensation  -   (5,023)Deferred income taxes  2,531   1,747 Unrealized foreign currency loss (gain)  104   (61)Changes in operating assets and liabilities:        Accounts receivable, net  16,553   13,554 Other assets  (3,939)  (228)Accounts payable, accrued and other liabilities  (4,063)  (12,186)Income taxes  8,172   2,044 Deferred revenue  6,940   1,179 Net cash provided by operating activities  61,276   40,426          Investing activities:        Purchase of property and equipment  (789)  (1,906)Net (purchases) maturities of investments  (11,630)  1,418 Net cash used in investing activities  (12,419)  (488)         Financing activities:        Purchase of common stock  (56,619)  (57,791)Proceeds from issuance of common stock from options exercised  -   18 Excess tax benefits from equity-based compensation  -   5,023 Net cash used in financing activities  (56,619)  (52,750)         Foreign currency impact on cash  1,355   208          Net change in cash and cash equivalents  (6,407)  (12,604)Cash and cash equivalents at beginning of period  95,615   118,416 Cash and cash equivalents at end of period $89,208  $105,812          

MANHATTAN ASSOCIATES, INC.
SUPPLEMENTAL INFORMATION

1.    GAAP and Adjusted earnings per share by quarter are as follows:

   2016  2017    1st Qtr  2nd Qtr  3rd Qtr  4th Qtr  Full Year  1st Qtr GAAP Diluted EPS  $ 0.38  $0.46  $0.47  $0.42  $1.72  $0.40 Adjustments to GAAP:                          Equity-based
  compensation    0.04   0.03   0.03   0.04   0.14   0.04 Tax benefit of stock awards vested    -   -   -   -   -   (0.03)Purchase amortization    -   -   -   -   -   - Adjusted Diluted EPS  $ 0.42  $0.49  $0.50  $0.46  $1.87  $0.42 Fully Diluted Shares    73,020   72,228   71,743   71,148   72,060   70,247                            

2.    Revenues and operating income by reportable segment are as follows (in thousands):

   2016  2017    1st Qtr  2nd Qtr  3rd Qtr  4th Qtr  Full Year  1st Qtr Revenue:                         Americas  $128,807  $131,018  $130,099  $123,660  $513,584  $113,115 EMEA   15,686   18,185   15,078   17,333   66,282   23,360 APAC   5,367   5,689   7,036   6,599   24,691   7,014    $149,860  $154,892  $152,213  $147,592  $604,557  $143,489                           GAAP Operating Income:                         Americas  $37,454  $44,126  $46,213  $37,154  $164,947  $28,713 EMEA   4,439   6,854   4,822   5,945   22,060   10,754 APAC   1,206   1,288   2,549   2,257   7,300   2,253    $43,099  $52,268  $53,584  $45,356  $194,307  $41,720                           Adjustments (pre-tax):                         Americas:                         Equity-based
  compensation  $4,688  $3,495  $3,541  $4,210  $15,934  $4,472 Purchase amortization   107   108   107   108   430   107    $4,795  $3,603  $3,648  $4,318  $16,364  $4,579                           Adjusted non-GAAP
  Operating Income:                         Americas  $42,249  $47,729  $49,861  $41,472  $181,311  $33,292 EMEA   4,439   6,854   4,822   5,945   22,060   10,754 APAC   1,206   1,288   2,549   2,257   7,300   2,253    $47,894  $55,871  $57,232  $49,674  $210,671  $46,299                           

3.    Our services revenue consists of fees generated from professional services and customer support and software enhancements related to our software products as follows (in thousands):

   2016  2017    1st Qtr  2nd Qtr  3rd Qtr  4th Qtr  Full Year  1st Qtr Professional services  $84,506  $86,992  $84,843  $77,097  $333,438  $75,457 Customer support and
  software enhancements   31,757   32,841   34,424   34,826   133,848   33,376 Total services revenue  $116,263  $119,833  $119,267  $111,923  $467,286  $108,833                           

4.    Hardware and other revenue includes the following items (in thousands):

   2016  2017    1st Qtr  2nd Qtr  3rd Qtr  4th Qtr  Full Year  1st Qtr Hardware revenue  $8,761  $9,554  $6,543  $9,070  $33,928  $7,559 Billed travel   4,229   4,874   4,770   4,474   18,347   4,324 Total hardware and
  other revenue  $12,990  $14,428  $11,313  $13,544  $52,275  $11,883                           

5.    Impact of Currency Fluctuation

The following table reflects the increases (decreases) in the results of operations for each period attributable to the change in foreign currency exchange rates from the prior period as well as foreign currency gains (losses) included in other income, net for each period (in thousands):

   2016  2017    1st Qtr  2nd Qtr  3rd Qtr  4th Qtr  Full Year  1st Qtr Revenue  $(810) $(474) $(784) $(1,425) $(3,493) $(1,547)Costs and expenses   (1,292)  (702)  (782)  (1,028)  (3,804)  (789)Operating income   482   228   (2)  (397)  311   (758)Foreign currency gains
  (losses) in other income   165   331   (72)  211   635   (646)   $647  $559  $(74) $(186) $946  $(1,404)                          

Manhattan Associates has a large research and development center in Bangalore, India.  The following table reflects the increases (decreases) in the financial results for each period attributable to changes in the Indian Rupee exchange rate (in thousands):

   2016  2017    1st Qtr  2nd Qtr  3rd Qtr  4th Qtr  Full Year  1st Qtr Operating income  $682  $459  $259  $159  $1,559  $(70)Foreign currency (losses)
  gains in other income   (109)  212   (44)  159   218   (320)Total impact of changes
  in the Indian Rupee  $573  $671  $215  $318  $1,777  $(390)                          

6.    Other income includes the following components (in thousands):

   2016  2017    1st Qtr  2nd Qtr  3rd Qtr  4th Qtr  Full Year  1st Qtr Interest income  $335  $329  $281  $216  $1,161  $293 Foreign currency gains
  (losses)   165   331   (72)  211   635   (646)Other non-operating
  income (expense)   20   (6)  1   (11)  4   (18)Total other income (loss)  $520  $654  $210  $416  $1,800  $(371)                          

7.    Capital expenditures are as follows (in thousands):

   2016  2017    1st Qtr  2nd Qtr  3rd Qtr  4th Qtr  Full Year  1st Qtr Capital expenditures  $1,906  $2,201  $1,358  $1,378  $6,843  $789                           

8.    Stock Repurchase Activity (in thousands):

   2016  2017    1st Qtr  2nd Qtr  3rd Qtr  4th Qtr  Full Year  1st Qtr Shares purchased under
  publicly-announced
  buy-back program  892   552   420   957   2,821   1,004 Shares withheld for taxes
  due upon vesting of
  restricted stock  163   -   3   1   167   131 Total shares purchased   1,055   552   423   958   2,988   1,135 Total cash paid for shares
  purchased under
  publicly-announced
  buy-back program $48,499  $34,995  $24,998  $49,901  $158,393  $49,978 Total cash paid for shares
  withheld for taxes due
  upon vesting of restricted
  stock  9,292   26   158   64   9,540   6,641 Total cash paid for shares
  repurchased  $57,791  $35,021  $25,156  $49,965  $167,933  $56,619                           

9.     As mentioned in footnote b to the reconciliation of selected GAAP to Non-GAAP Measures, during the first quarter of 2017, we adopted ASU 2016-09 Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting. Had we adopted the guidance during the first quarter of 2016, the cash provided by operating activities and cash used in financing activities for the three months ended March 31, 2016 as compared to March 31, 2017 would have been as follows:

   2016  2017    1st Qtr  1st Qtr           Net cash provided by operating activities, as stated  $40,426  $61,276 Add: excess tax benefit from equity-based
  compensation 5,023   - Revised net cash provided by operating activities  $45,449  $61,276           Net cash used in financing activities, as stated  $(52,750) $(56,619)Less: excess tax benefit from equity-based
  compensation (5,023)  - Revised net cash used in financing activities  $(57,773) $(56,619)          


CONTACT: Contact: Dennis Story Chief Financial Officer Manhattan Associates, Inc. 770-955-7070 dstory@manh.com Beverly McDonald Senior Director, Corporate Marketing Manhattan Associates, Inc. 678-597-6528 bmcdonald@manh.com
Categories: State

The Finnish Competition and Consumer Authority has approved the transaction between Kesko and Yamaha

20 April 2017 - 7:31am

KESKO PRESS RELEASE 20.04.2017 AT 15.30 1(1)

The Finnish Competition and Consumer Authority has approved the transaction between Kesko and Yamaha

The Finnish Competition and Consumer Authority (FCCA) has approved the transaction in which Konekesko Ltd, a Kesko Corporation subsidiary, sells its Yamarin boat business to Inhan Tehtaat Oy Ab, a subsidiary owned by Yamaha Motor Europe N.V. At the same time, the transfer of the representation of Yamaha's recreational machinery in Finland from Konekesko Ltd to Yamaha Motor Europe N.V. has been approved.

In its decision given on 20 April 2017, the FCCA has approved the transaction in which Kesko sells its Yamarin boat business and representation of Yamaha in Finland. There are no conditions imposed on the completion of the transaction in the decision.

On 19 December 2016, Kesko Corporation announced in a stock exchange release that it would sell its Yamarin boat business and Yamaha representation in Finland. The transaction includes Konekesko Ltd's Yamarin boat business, the import of Yamaha products and the representations of certain other brands.

Kesko's objective is to have the transaction completed no later than the third quarter.

Further information:
Antti Meriläinen, SVP, Kesko's agricultural and machinery trade, antti.jo.merilainen@kesko.fi, tel. +358 105 320 492
Riikka Toivonen, Head of Financial Communications, riikka.toivonen@kesko.fi, tel. +358 105 323 495

DISTRIBUTION

Main news media

www.kesko.fi

 

Categories: State

National General Holdings Corp. to Announce 2017 First Quarter Results on May 8, 2017

19 April 2017 - 12:00pm

NEW YORK, April 19, 2017 (GLOBE NEWSWIRE) -- National General Holdings Corp. (NASDAQ:NGHC) announced today that it plans to release 2017 first quarter results before the market opens on Monday, May 8, 2017. At 11:00 AM ET that morning, Chief Executive Officer Barry Karfunkel and Chief Financial Officer Mike Weiner will review results and discuss business conditions via a conference call that may be accessed as follows:

       Toll-Free U.S. Dial-in: 888-267-2845  International Dial-in:973-413-6102  Conference Entry Code:          170847  Webcast Registration: http://ir.nationalgeneral.com/events.cfm 

A replay of the conference call will be accessible from 2:00 PM ET on Monday, May 8, 2017 to 11:59 PM ET on Monday, May 22, 2017 by dialing either 800-332-6854 (toll-free) within the U.S. or 973-528-0005 outside the U.S. and entering passcode 170847. In addition, a replay of the webcast can also be retrieved at http://ir.nationalgeneral.com/events.cfm.

About National General Holdings Corp.
National General Holdings Corp., headquartered in New York City, is a specialty personal lines insurance holding company. National General traces its roots to 1939, has a financial strength rating of A- (excellent) from A.M. Best, and provides personal and commercial automobile, homeowners, umbrella, recreational vehicle, motorcycle, supplemental health, and other niche insurance products.

CONTACT: Investor Contact Christine Worley Director of Investor Relations Phone: 212-380-9462 Email: Christine.Worley@NGIC.com
Categories: State

Marijuana Retailer and Producer Kaya Holdings’ 10-K Reports 200% Revenue Increase, New Licenses and First Vehicles to Launch Kaya Car™ Home Delivery Service Fleet

18 April 2017 - 8:15am

FORT LAUDERDALE, Fla., April 18, 2017 (GLOBE NEWSWIRE) -- Kaya Holdings, Inc. (OTCQB:KAYS), announced that it has disclosed fiscal year 2016 results of operations by filing its Annual Report on Form 10-K for the year ended December 31, 2016 with the SEC.  Results of operations in the Form 10-K show that for 2016, KAYS’ 2016 revenues were just under $1 million, a year-over-year increase of approximately 200% in comparison to 2015.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/5ce196b1-6565-4669-9334-40c7179fab56

During 2016, KAYS operated two Kaya Shack™ retail outlets in Portland and South Salem, Oregon, respectively, the second of which in Salem is KAYS’ initial Kaya Shack™ Marijuana Superstore. Since the results reported in the 2016 10-K, KAYS opened its third retail outlet and second Kaya Shack™ Marijuana Superstore in North Salem, Oregon in March 2017 and anticipates opening its fourth retail outlet and third Kaya Shack™ Marijuana Superstore in Central Salem within the next 30-60 days.

Additionally, KAYS reported that they expect their Portland, Oregon location (Kaya Shack #1) to have its OLCC Marijuana Retailer License activated within the next 2 weeks so that recreational sales can commence at that location, which has been limited to medical sales only since January 1 of this year as the new licensing regulations commenced. The activation of this OLCC License, in conjunction with the licensing and opening of the retail outlet in Central Salem, Oregon would bring KAYS to a total of 4 OLCC Licensed Kaya Shack™ retail marijuana stores able to serve both medical patients and recreational customers.

In a related announcement, KAYS confirmed that it has received licensure to operate an unlimited number of Kaya Car™ Home Delivery Vehicles in both Portland and Salem, Oregon and recently took delivery of its first four Fiat 500 cars to begin building their Kaya Car™ Home Delivery Service fleet. The cars are presently being customized with distinctive Kaya Shack™ vehicle wrapping featuring the Company’s branding logos and colors, and the Company is developing the Kaya Shack™ Delivery App for use by its customers to order “Fast, Free Delivery” of the complete line of both medical and recreational grade Kaya Shack™ cannabis products.

“We intend to initiate Kaya Car™ Home Delivery Service within the next 30-60 days, contemporaneously with a grand opening celebration for all four then OLCC-Licensed Kaya Shack™ retail marijuana stores and to commence to move to the next stage of branding and retail development,” stated KAYS’ CEO Craig Frank. “In addition to providing added value and convenience for our customers, extending visibility and building brand recognition for the Kaya Shack™ brand, we believe that Kaya Shack™ Home Delivery provides greater market penetration, by allowing sales throughout the geographic area that our stores are licensed in. There is no limit to the number of delivery vehicles that can service an individual area using just one store as a home base, so in effect we intend to use this service to construct dozens of additional “virtual” Kaya Shacks™ without the added costs of additional brick and mortar locations.”

A copy of the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, complete with pictures, store information and product testing as filed with the SEC, is available online at www.sec.gov.

About Kaya Holdings, Inc. (KAYS)

Kaya Holdings, Inc. (OTCQB:KAYS) owns and operates Kaya Shack™ legal marijuana dispensaries in Oregon as well as grow and manufacturing operations, which produce, distribute and/or sell premium legal cannabis products under the Company’s own brands, including flower, concentrates, and cannabis-infused baked goods and candies.  KAYS is the first publicly-traded U.S. company to own and operate legal marijuana dispensaries and a vertically integrated legal cannabis grow and manufacturing operation.

Important Disclosure

KAYS is planning execution of its stated business objectives in accordance with current understanding of State and Local Laws and Federal Enforcement Policies and Priorities as it relates to Marijuana (as outlined in the Justice Department's Cole Memo dated August 29, 2013), and plan to proceed cautiously with respect to legal and compliance issues. Potential investors and shareholders are cautioned that the Company will obtain advice of counsel prior to actualizing any portion of its business plan (including but not limited to license applications for the cultivation, distribution or sale of marijuana products, engaging in said activities or acquiring existing cannabis production/sales operations). Advice of counsel with regard to specific activities of KAYS, Federal, State or Local legal action or changes in Federal Government Policy and/or State and Local Laws may adversely affect business operations and shareholder value.

Forward-Looking Statements

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

For more information email info@kayaholdings.com or call 561-210-5784, or visit www.kayaholdings.com and sign up for investor updates.

Categories: State

VPR Brands, LP Announces 2016 Fourth Quarter and Full Year Results

18 April 2017 - 8:00am

FORT LAUDERDALE, Fla., April 18, 2017 (GLOBE NEWSWIRE) -- VPR Brands, LP (OTC Pink:VPRB) released 2016 fourth quarter and full year revenue and financials. 2016 revenue totaled $1,580,676, which represents a 4,620.85% increase over 2015 revenue of $342. For 2016, VPR Brands had a gross profit margin of 30.42%, gross profit of $480,852 and a net operating loss of $327,757.

Fourth quarter 2016 revenue totaled $972,322, representing a 59.82%​ increase over third quarter 2016 revenue of $608,354. Fourth quarter 2016 operating margins were down slightly compared to the third quarter 2016 to 29.03%, with $282,298 in gross profit and a net operating loss of $206,174.

“The acquisition we made in 2016 was a bold move that has added incremental business and value to the Company for the last half of 2016 and has given us a running start into 2017. We believe that the Company is now well positioned to take advantage of the growing cannabis market segment," said Kevin Frija, CEO of VPR Brands, LP. "We will continue to stay focused on our mission of building long-term value for the Company, both organically or through additional acquisitions that make sense for the Company."

“I couldn’t be more excited for our portfolio of brands, our team of people, our great clients, our strategic alliances and our growth potential within the rapidly expanding cannabis space. Although 2016 was a short year for us, I believe we have set a solid foundation for growth that we can build upon for years to come,” commented Daniel Hoff, COO of VPR Brands, LP.

Although our sales are not segregated by brand or product category, our primary revenue source is from vaporization devices specifically created for use with medical cannabis and recreational marijuana. These devices are specifically created for use with extract oils and concentrates which are vaped, providing optimal results and the best experience for patients and recreational users. Vaporizers are far more convenient and discrete compared to traditional cannabis use methods. These units are compact, easy to carry and concealable. Modern cannabis vaporizers do not emit distinct and lingering odors that are affiliated with traditional marijuana use. We believe that portable vaporizers as the fastest growing delivery mechanism for marijuana. Our team is currently working with other market leaders within cannabis growth and extraction to innovate and further educate the marketplace on its advantages.

About VPR Brands LP:
VPR Brands is a technology company; whose assets include issued U.S. and Chinese patents for atomization related products including technology for medical marijuana vaporizers and electronic cigarette products and components. The Company is also engaged in product development for the vapor or vaping market, including e-liquids, vaporizers and electronic cigarettes (also known as e-cigarettes) which are devices which deliver nicotine and or cannabis through atomization or vaping, and without smoke and other chemical constituents typically found in traditional products. For more information about VPR Brands, please visit the Company on the web at www.vprbrands.com.

Forward-Looking Statements:
This news release contains statements that involve expectations, plans or intentions, and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

CONTACT: Contact Information: VPR Brands, LP Kevin Frija CEO (954) 715-7001 info@vprbrands.com
Categories: State

Madison Paper Industries to sell its hydro power facilities in North America to Eagle Creek Renewable Energy

18 April 2017 - 12:31am

(UPM, Helsinki, 18 April 2017 at 8:30 EET) - Madison Paper Industries, a partnership of UPM and Northern SC Paper Corp., a subsidiary of The New York Times Company, has signed an agreement on the sale of its hydro power facilities to Eagle Creek Renewable Energy, LLC, a hydroelectric power producer, based in Morristown, NJ, USA.

The transaction is still subject to third party approvals. The parties have agreed not to disclose the purchase price.

"Eagle Creek is a well-known and experienced operator of hydroelectric power facilities in North America. The company focuses on CO2-friendly power production and has a long term focused business strategy in this sector. As an integral part of an energy company the hydro power facilities can be operated and developed in an optimal way," says Ruud van den Berg, Senior Vice President, Magazines, Merchants & Office, UPM Paper ENA.

"Eagle Creek is very pleased to broaden our footprint in central Maine. The Madison Paper Industries  hydroelectric portfolio represents an excellent opportunity to build out our operations in the region through the acquisition of a well-maintained, high quality set of hydro facilities," says Bud Cherry, CEO of Eagle Creek Renewable Energy.

For further information please contact:
Ruud van den Berg, Senior Vice President, Magazines, Merchants & Office, UPM Paper ENA tel. +49 151 1215 8310
Bernard H. Cherry, CEO, Eagle Creek Renewable Energy, LLC, tel. +1 973 998 8400

UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
media@upm.com

About Eagle Creek
Eagle Creek Renewable Energy is an owner, operator and developer of hydroelectric power projects.  Eagle Creek's projects provide clean energy to electricity consumers in North America while providing recreational opportunities and protecting historical resources and the environment. Eagle Creek was founded in 2010 to acquire, enhance, and operate small hydroelectric power facilities. Eagle Creek currently owns and operates a portfolio of approximately 180 MW of hydroelectric facilities across the United States.

About Madison Paper Industries
Madison Paper Industries is a partnership of UPM and Northern SC Paper Corp., a subsidiary of The New York Times Company.

About UPM Paper ENA
UPM Paper ENA (Europe and North America) is the world's leading producer of graphic papers, offering an extensive product range for advertising and publishing as well as home and office uses. The high performing papers and service concepts of UPM add value to our customers' businesses, while actively fulfilling demanding environmental and social responsibility criteria. With headquarters in Germany, UPM Paper ENA employs approximately 8,000 people. More about UPM Paper ENA and its products at www.upmpaper.com

About UPM
Through the renewing of the bio and forest industries, UPM is building a sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Paper ENA and UPM Plywood. Our products are made of renewable raw materials and are recyclable. We serve our customers worldwide. The group employs around 19,300 people and its annual sales are approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM - The Biofore Company - www.upm.com

Follow UPM on Twitter | LinkedIn | Facebook | YouTube | Instagram | upmbiofore.com

Categories: State

Acology’s Big First Quarter, Highlights of 10K in Letter to Shareholders

17 April 2017 - 7:00am

CORONA, Calif., April 17, 2017 (GLOBE NEWSWIRE) -- A Letter from CEO Curt Fairbrother

Dear Shareholders:

I’m pleased to announce that as a result of late-year product additions, and continued surges of our signature product, Acology (OTC:ACOL) sales have significantly accelerated beyond our initial projections for the first quarter of 2017. Acology sold nearly half as many products in the first quarter as in all of 2016. This is attributable to gains in both national and global distribution, the addition of new distributors and expansion in the Canadian market. We believe that these trends will continue and that 2017 will be a banner year for us.

Friday’s publication of our 10K tracks the steady growth of our company from its inception and the success we’ve had in maintaining consistently high gross margins.  By its nature the financial report is very conservative. It is worth noting that double-digit increases in year-to-year sales have been remarkably consistent.  From 2013 to the present we have seen our business grow by an astonishing 770%. Our manufacturing arm is at less than 45% of capacity and poised for increased production. Our debt is manageable and the opportunity to significantly diminish it has already presented itself. We will update our progress in this endeavor as it develops.

We have always prided ourselves on growing the business from the inside-out, sometimes to the disappointment of our shareholders. We had the foresight to understand the emphasis and importance of multi-functional packaging in the medical and recreational cannabis industry. Increasing our sales force, although one of the largest of our expenditures, was the result of our commitment to become a global presence, especially in Canada. Most of our revenue is invested back into our business. We remain committed to these principles; steady growth, continued product diversity, concentrated person-to-person sales and marketing and the assurance of outstanding customer service.

Thank you for your continued trust and support. Acology is extremely confident that 2017 will be a breakout year. There is every indication, despite some uncertainty on the federal level, that our industry will continue to grow and prosper. We will continue with our commitment to position Acology as the premiere compliant-packaging solution at the head of that industry.

Curt Fairbrother, CEO

For investor or sales information please visit Acology Inc. and D&C Distributors online or by phone. The company is located in their production and distribution facility at 1620 Commerce St. Corona, California, 92880.

Acology trades on the OTC under the call letters ACOL. The company’s websites are www.Acologyinc.com for the hospice and palliative care industry and www.themedtainer.com for the recreational and medical marijuana industry. Orders for Acology products can be taken online and by phone. Custom orders are especially welcome.  Please send all inquiries to info@acologyinc.com or call (844) ACOLOGY (844-226-5649). Ask for Jack Rein, National Services Director.  Acology can also be accessed through Twitter and Instagram at @Acologyinc

This press release includes statements that are covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events they are subject to risks and uncertainties and actual results for fiscal year 2016 and beyond could differ materially from the company’s current expectations. Forward-looking statements are identified by such words as “anticipates”, “projects”, “expects”, “planned”, “intends” and “believes” “estimate” “targets” and other similar expressions that indicate trends and future events. It is understood that investment entails risk on the part of the investor and could result in the loss of some or all his or her investment.

Categories: State

LKQ Corporation to Release First Quarter 2017 Results on Thursday, April 27, 2017

13 April 2017 - 9:00am

CHICAGO, April 13, 2017 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq:LKQ) will release first quarter 2017 financial results before the market opens on Thursday, April 27, 2017.

Conference Call Details

At 10:00 a.m. Eastern Time (9:00 a.m. Central Time) members of senior management will host a conference call and Webcast to discuss the Company's results. To access the investor conference call, please dial (877) 201-0168. International access to the call may be obtained by dialing (647) 788-4901.

Webcast and Presentation Details

The audio webcast and accompanying slide presentation can be accessed at www.lkqcorp.com in the Investor Relations section.

A replay of the conference call will be available by telephone at (416) 621-4642 or (800) 585-8367 for international calls. The telephone replay will require you to enter conference ID: 6722550#. An online replay of the audio webcast will be available on the Company's website. Both formats of replay will be available through May 11, 2017. Please allow approximately two hours after the live presentation before attempting to access the replay.

About LKQ Corporation

LKQ Corporation (www.lkqcorp.com) is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, Europe and Taiwan. LKQ offers its customers a broad range of replacement systems, components, equipment and parts to repair and accessorize automobiles, trucks, and recreational and performance vehicles.

CONTACT: Joseph P. Boutross LKQ Corporation Director, Investor Relations (312) 621-2793 jpboutross@lkqcorp.com
Categories: State

Community Management Corporation Sets Company Record With Four New Portfolio Additions in One Week

11 April 2017 - 9:05am

CHANTILLY, Va., April 11, 2017 (GLOBE NEWSWIRE) -- Associa companies Community Management Corporation and Select Community Services recently added four new clients in one week, a record for the Chantilly-based branches. The new additions are The Henry Condominiums in Alexandria, Willow Point Condominium in Falls Church, Brentwood Springs Homeowners Association in Round Hill, and Cascades Overlook Condominium in Sterling.

"It is always great to be able to announce record-setting performances by our team," said Community Management Corporation President Nick Mazzarella MBA, CMCA, PCAM, LSM. "I want to give a special thanks to our marketing team. Their collective hard work and dedication allowed this prosperous growth to happen. We're excited to bring our unsurpassed level of community management services to these four new communities."

The Henry Condominiums in Alexandria, Va. – These units are located in the heart of historic Alexandria, just a short distance from the Metro and all the shops, restaurants and night spots that make Alexandria unique. It also features a state-of-the-art fitness club, a rooftop terrace and courtyard with views of Washington D.C., a residents lounge with movie screening room, party room, and billiards room.

Willow Point Condominium in Falls Church, Va. – Willow Point is a small community with gorgeous pool, nestled among mature trees and backing up to an extensive forested area and stream. Adjacent to Falls Church High School and minutes from Providence Recreation Center, it offers easy access to both Route 50 and I-495.

Brentwood Springs Homeowners Association in Round Hill, Va. – Brentwood Springs is a planned 95-unit active adults residential community currently being developed in Loudoun County by Wormald Homes. It will consists of 71 estate single-family detached homes and 24 courtyard single-family detached homes. The community is located immediately adjacent to a brand new park consisting of walking paths, exercise stations, playgrounds and recreation fields.

Cascades Overlook Condominium in Sterling. Va. – The Cascades Overlook are situated on a beautifully landscaped location and are surrounded by shopping and dining. Conveniently located minutes from Dulles International Airport, Dulles Town Center and the local tech corridor, the Cascades Overlook also feature both indoor and outdoor recreational offerings.

Building and managing successful communities for more than 37 years, Associa is the worldwide leader in community management with over 10,000 employees operating more than 180 branch offices in the United States, Mexico, and Canada. Based in Dallas, Texas, our industry expertise, financial strength and innovation meet the unique needs of clients across the world with customized services and solutions designed to help communities achieve their vision. To learn more about Associa and its charitable organization, Associa Cares, go to www.associaonline.com or www.associacares.com.

Stay Connected:
Facebook: https://www.facebook.com/associa 
Twitter: https://twitter.com/associa 
LinkedIn: http://www.linkedin.com/company/associa 
Pinterest: http://pinterest.com/associa/ 
YouTube: http://www.youtube.com/associamarketing
Google+: https://plus.google.com/+Associaonline/

CONTACT: Andrew Fortin Phone: 214-716-3818 Email: afortin@associaonline.com
Categories: State

Brunswick Corporation : Brunswick Facilities Worldwide Achieve Safety Recognition

11 April 2017 - 6:06am

LAKE FOREST, Ill., April 11, 2017 - Brunswick Corporation (NYSE: BC) announced today the recipients of its safety award program for 2016.  The purpose of the program is to encourage, recognize and reward employees and facilities that have achieved outstanding safety performance through promoting and practicing safety awareness as well as identifying and eliminating risks, ultimately minimizing workplace incidents and injuries. 

All Brunswick manufacturing, engineering and distribution facilities worldwide are eligible for such recognition. For 2016, two facilities won the Chairman's Safety Award, and each will direct a $10,000 donation to a local charity of its choice.  The Chairman's Safety Award is selected and presented by Brunswick senior management to the most outstanding performers. 

The two facilities that have won the prestigious Chairman's Safety Award for 2016 include:

  • Oshkosh, Wis. - Mercury Marine, and
  • Fresno, Calif. -  Mercury Marine Regional Distribution Center.

Also for 2016, the Company is initiating the Brunswick Award for Sustained Safety Performance to acknowledge operations that consistently achieve among the highest safety performance levels over an extended period.  Five facilities were honored with this recognition, and will each direct a $2,500 donation to a local charity of its choice. They include:

  • Suzhou, People's Republic of China - Mercury Marine Plant 58
  • Edgewater, Fla. - Brunswick Commercial and Governmental Products
  • Juarez, Mexico - Mercury Plant 22
  • Taycheedah, Wis. - Mercury Racing Plant 36, and
  • Bangor, Northern Ireland - Whale.

Additionally, 17 other facilities were recognized with Distinguished Safety Awards for their 2016 safety performance.  The separate Distinguished Safety Award designation is achieved by meeting specific safety performance results, which include incident rates and other Brunswick criteria.  Those cited include:

  • Dandenong, Australia - Mercury Marine Regional Distribution Center
  • Dandridge, Tenn. - Brunswick Recreational Boats
  • Eagan, Minn. - Land 'N' Sea
  • Falmouth, Ky. - Life Fitness Hammer Strength
  • Fresno, Calif. - Mercury Marine Plant 75 Regional Distribution Center
  • Houston, Tex. - Land 'N' Sea
  • Kent, Wash. - Land 'N' Sea
  • Lowell, Mich. - Attwood
  • Medway, Mass. - Cybex
  • Merritt Island, Fla. - Brunswick Recreational Boats Sykes Creek
  • Miami, Fla. - Mercury Marine Plant 85 Regional Distribution Center
  • Milton, Ont., Canada - Mercury Marine Plant 20 Regional Distribution Center
  • Pompano Beach, Fla. - Land 'N' Sea
  • Princeville, Quebec, Canada - Freshwater Boats Princecraft
  • Reynosa, Mexico - Brunswick Recreational Boats
  • Shreveport, La. - Land 'N' Sea, and
  • Vonore, Tenn. - Brunswick Recreational Boats Tellico

In all, 37 facilities were cited by Brunswick for achieving no lost-time incidents during 2016, though 13 of those facilities did not meet all the criteria to qualify for further distinction.

"Safety is everyone's responsibility and concern at Brunswick.  Each day we strive to ensure the safety of our employees and the well-being of the communities in which they live and work.  Our congratulations to these facilities and their employees on their high standards and tremendous accomplishments," Brunswick Chairman and Chief Executive Officer Mark D. Schwabero said.

About Brunswick
Headquartered in Lake Forest, Ill., Brunswick Corporation's  leading consumer brands include Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Attwood, Garelick and Whale marine parts and accessories; Land 'N' Sea, Kellogg Marine, Payne's Marine and BLA parts and accessories distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern; Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group  and SCIFIT fitness equipment; InMovement products and services for productive well-being; and Brunswick billiards tables, accessories and game room furniture. For more information, visit http://www.brunswick.com.
###

Contact:   Daniel Kubera Director - Media Relations and Corporate Communications Phone:   847-735-4617 Email:    daniel.kubera@brunswick.com


Categories: State

Acology Joins Select Companies for Desert Festival

10 April 2017 - 7:30am

CORONA, Calif., April 10, 2017 (GLOBE NEWSWIRE) -- Acology Inc. (OTC:ACOL) will be joining Weedmaps as one of the preferred companies to exhibit during this coming weekend’s huge rock festival near Palm Springs.

As one of the fastest-growing companies on the west coast Acology, led by its signature product, The Medtainer™, will be one of the featured corporations at the exclusive Weedmaps Oasis. Global cannabis executives will be given samples of Acology’s imprinted products as they make their way through the exhibition experience and will have the opportunity to talk to Acology executives about its rapidly expanding business.

The 2-weekend desert Music and Arts Festival draws more than 200,000 fans every year for one of the largest big-name concert experiences in North America. Weedmaps’ Oasis plays host to some of the most influential and successful MMJ executives, music artists, entertainment figures and influencers in popular culture. Acology is very pleased to be one of the select cannabis companies to be included in this industry celebration and artistic experience.

For investor or sales information please visit Acology Inc. and D&C Distributors online or by phone. The company is located in their production and distribution facility at 1620 Commerce St., Corona, California, 92880.

Acology trades on the OTC under the call letters ACOL. The company’s websites are www.Acologyinc.com for the hospice and palliative care industry and www.themedtainer.com for the recreational and medical marijuana industry. Orders for Acology products can be taken online and by phone. Custom orders are especially welcome.  Please send all inquiries to info@acologyinc.com or call (844) ACOLOGY (844-226-5649). Ask for Jack Rein, National Services Director.  Acology can also be accessed through Twitter and Instagram at @Acologyinc

This press release includes statements that are covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events they are subject to risks and uncertainties and actual results for fiscal year 2016 and beyond could differ materially from the company’s current expectations. Forward-looking statements are identified by such words as “anticipates”, “projects”, “expects”, “planned”, “intends” and “believes” “estimate” “targets” and other similar expressions that indicate trends and future events. It is understood that investment entails risk on the part of the investor and could result in the loss of some or all his or her investment.

Categories: State

LKQ Corporation to Present at Upcoming Investor Conference

7 April 2017 - 9:00am

CHICAGO, April 07, 2017 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq:LKQ) today announced that members of its senior management will be presenting at the following investor conference:

Bank of America Merrill Lynch’s 2017 Auto Summit Conference   April 12, 2017JW Marriott Essex House, New York, New York    

Materials used during the presentations will be posted to the Company's website: www.lkqcorp.com on the day of the conferences.

About LKQ Corporation

LKQ Corporation (www.lkqcorp.com) is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, Europe and Taiwan. LKQ offers its customers a broad range of replacement systems, components, equipment and parts to repair and accessorize automobiles, trucks, and recreational and performance vehicles.

CONTACT: Joseph P. Boutross LKQ Corporation Director, Investor Relations (312) 621-2793 jpboutross@lkqcorp.com
Categories: State

MEDICAL AND LEGALIZED MARIJUANA USE IN RELATION TO HEART AND LUNG TRANSPLANTATION DISCUSSED AT ISHLT 37th ANNUAL MEETING AND SCIENTIFIC SESSIONS

6 April 2017 - 6:20pm

San Diego, April 06, 2017 (GLOBE NEWSWIRE) -- Today researchers presented information about the controversial issue of medical marijuana in relation to heart and lung transplantation at the 37th Annual International Society for Heart and Lung Transplantation (ISHLT) Meeting & Scientific Sessions, during Symposium 18: Weeding Out Fact from Fiction – the Highs and Lows of Marijuana Use in Transplant.  Specifically, presenters discussed potential impacts of legislation like California’s Assembly Bill 258, and additional issues concerning marijuana use in candidates for and recipients of heart or lung transplants.

The Medical Cannabis Organ Transplant Act passed in California in 2015 prohibits transplant centers from denying transplantation to medical marijuana users solely based on their use of marijuana. Currently, 23 states and the District of Columbia have passed some form of legislation legalizing the use of marijuana for medical or recreational use. During today’s discussion, researcher Lorriana Leard, MD, Associate Professor of Clinical Medicine at the University of California San Francisco delved into the implication of how doctors think about candidates given the legal considerations in some states.  

“The topic of cannabis use within the field of heart and lung transplantation has many unanswered questions,” said ISHLT 37th Annual Meeting and Scientific Sessions Program Chair and Board Member Jeffrey Teuteberg, MD. “There is little data on how the drug impacts patients either before or after heart and lung transplant”

University of Toronto Department of Medicine Associate Professor, Lianne Singer, MD shared that there is currently a ‘major’ knowledge gap about how cannabis affects transplanted hearts and lungs.  She noted that smoking cannabis is associated with some pulmonary and cardiac risks, but it is currently unknown whether transplant recipients are more vulnerable. Infections can be transmitted through contaminated marijuana or smoking with infected individuals, which can have serious consequences for post-transplant patients. Lastly, she discussed that cannabis has interesting effects on the immune system and posed the question – can it prevent/treat organ rejection.

ISHLT Heart Transplant Guidelines

Section 5.0 of the 2016 ISHLT Listing Criteria for Heart Transplantation, a guideline document created by ISHLT and its members, identifies that the use of medical and legalized marijuana still has many unknowns. The guidelines reference studies that showed concerns of “heightened predisposition to fungal infections” in organ transplantation, in patients using marijuana.

Further, the guidelines advise caution for transplant centers in listing candidates, unable to give up use of cannabis, or use it heavily, as it impairs cognitive function, which could lead to medication confusion post-transplant. At this time, the guideline recommends each center develop their own specific criteria for deciding candidacy for marijuana users.

About ISHLT

The International Society for Heart and Lung Transplantation (ISHLT) is a not-for-profit professional organization with more than 2,700 members from over 45 countries dedicated to improving the care of patients with advanced heart or lung disease through transplantation, mechanical support and innovative therapies via research, education and advocacy. For more information, visit www.ishlt.org

# # #

 

 

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/9f31504b-5758-4cda-9241-e7fbf0f8107b

CONTACT: Stephen Chavez International Society for Heart & Lung Transplantation 210-310-8215 stephen.d.chavez@gmail.com
Categories: State

Vega Biofuels to Host Cannabis Growers at 2017 Cannacon

6 April 2017 - 10:56am

NORCROSS, Ga., April 06, 2017 (GLOBE NEWSWIRE) -- Vega Biofuels, Inc. (OTCPink:VGPR) announced today that it will be hosting cannabis growers from several different states at the 2017 Cannacon in Santa Rosa, CA.   The April 20 event will include over 5,000 legal cannabis growers from all over the world.  Vega Biofuels will be showcasing the Company’s Biochar product. Biochar is a highly absorbent specially designed charcoal-type product primarily used as a soil enhancement for the agricultural industry to significantly increase crop yields. Biochar is made from timber waste using torrefaction technology and the Company’s patent pending torrefaction machine.  The introduction of Biochar into soil is not like applying fertilizer; it is the beginning of a process.  Most of the benefit is achieved through microbes and fungi.  They colonize its massive surface area and integrate into the Biochar and the surrounding soil, dramatically increasing the soil’s ability to nurture plant growth and provide increased crop yield.  Cannabis growers currently using Biochar as a soil enhancement have reported dramatic increases in plant production. 

Vega recently announced the Company has entered into an Agreement with an Alaska based grower to market the Company’s Biochar product throughout the state of Alaska through a Reseller Agreement with Vega.  Alaska recently approved the sale of both medical and recreational cannabis.  Vega is using this model as it markets to growers in other states.  

“The Reseller Agreements give us an opportunity to have an immediate presence in states that have legalized the manufacturing and sale of cannabis products,” stated Michael K. Molen, Chairman/CEO of Vega Biofuels, Inc. “The Santa Rosa Cannacon provides us with a tremendous opportunity to reach over 5,000 growers in one location.  The harvest reports that we are hearing are staggering and the return on investment for the growers is even greater.  We will post pictures and further information from the show as things develop.  The sale of Biochar to the cannabis industry will have a significant impact on our bottom line this year.”

For plants that require high potash and elevated pH, Biochar can be used as a soil amendment to significantly improve yield. Biochar can improve water quality, reduce soil emissions of greenhouse gases, reduce nutrient leaching, reduce soil acidity, and reduce irrigation and fertilizer requirements. Biochar was also found under certain circumstances to induce plant systemic responses to foliar fungal diseases and to improve plant responses to diseases caused by soil-borne pathogens. The various impacts of Biochar can be dependent on the properties of the Biochar, as well as the amount applied. Biochar impact may depend on regional conditions including soil type, soil condition (depleted or healthy), temperature, and humidity. Modest additions of Biochar to soil reduces nitrous oxide N2O emissions by up to 80% and eliminates methane emissions, which are both more potent greenhouse gases than CO2.

About Vega Biofuels, Inc. (OTCPink:VGPR):

Vega Biofuels, Inc. is a cutting-edge energy company that manufactures and markets a renewable energy product called Bio-Coal and a soil enhancement called Biochar, both made from timber waste using unique technology called torrefaction.  Torrefaction is the treatment of biomass at high temperatures under low oxygen conditions.  For more information, please visit our website at vegabiofuels.com.   

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release.

CONTACT: CONTACT: Vega Biofuels, Inc.: 800-481-0186 info@vegabiofuels.com vegabiofuels.com @vegabiofuels
Categories: State

1,200 Long-Distance Runners in the 2017 MARATHON DES SABLES to use SPOT Gen3 for Safety and Tracking

6 April 2017 - 8:30am

COVINGTON, La., April 06, 2017 (GLOBE NEWSWIRE) -- Globalstar Inc. (NYSE MKT:GSAT), and its subsidiary Globalstar Europe Satellite Services, LTD., announced today that all competitors in this year’s MARATHON DES SABLES (MDS) will carry a small, lightweight, SPOT Gen3 safety device on their backpack.

The SPOT Gen3 allows race organizers, support teams and supporters to precisely track each competitor’s location and its one-touch S.O.S. button allows competitors to request help at any time. The service is provided by Globalstar’s valued added reseller (VAR) partner and geolocation specialist WAA Tracking, and includes a geo-fencing feature that alerts organisers when a runner is straying off-course as they cross the vast Sahara Desert.

For the first time, WAA Tracking is making it possible for family and supporters to follow the race live and track the performances of chosen competitors. Viewers can see competitors’ rankings on each leg of the race. They are also notified by email when their chosen competitors approach the end of each stage so they can watch them cross the line live on the webcam.

The MDS, taking place from April 7th to 17th 2017, is a gruelling, seven day, 250km extreme foot race in high temperatures through Morocco. Competitors carry the bare minimum, including bedding and food. Thanks to SPOT’s accuracy, in last year’s race, the MDS team was able to precisely locate 22 competitors in distress and quickly dispatch rescue personnel to where it was needed. All race marshals also carry the small, rugged SPOT devices, and they will also be attached to security and medical vehicles, helicopters and even a camel.

Patrick Bauer, CEO and Founder of the MARATHON DES SABLES, commented, “This is the third year we have used SPOT Gen3 and WAA Tracking to ensure the safety of all our competitors and support teams. SPOT’s small size and reliability makes it a critical part of the race’s success by ensuring we can get help to any competitor within minutes and reduces the risk of them dropping out.”

“Every year, we work with WAA to enhance the tracking service provided to MDS organizers and supporters,” said Gary King, SPOT Regional Sales Manager EMEU, Globalstar. “Together our aim is to provide accurate GPS locations in near real time, keep competitors safe and enable speedy rescues when required.”
SPOT Gen3 retails for $149.95 and requires a service plan.

About SPOT LLC
SPOT LLC, a subsidiary of Globalstar, Inc., provides affordable satellite communication and tracking devices for recreational use. SPOT Global Phone uses the Globalstar network to transmit two-way voice and data communications. SPOT messaging devices use both the GPS satellite network and the Globalstar network to transmit text messages and GPS coordinates. Since 2007, SPOT has provided peace of mind by allowing customers to remain in contact completely independent of cellular coverage, having initiated over 5,000 rescues worldwide. For more information, visit FindMeSPOT.com.

Note that all SPOT products described in this press release are the products of SPOT LLC, which is not affiliated in any manner with Spot Image of Toulouse, France or Spot Image Corporation of Chantilly, Virginia. SPOT Connect is a trademark of Spot LLC. All other trademarks are the property of their respective owners. For more information, visit FindMeSPOT.com.

 

CONTACT: For media information, please contact: Globalstar and SPOT Samantha de Castro samantha.decastro@globalstar.com MARATHON DES SABLES Alban Colombel (+33) 6 42 46 00 96 press@marathondessables.com WAA Thierry Dedouche (+33) 6 62 36 66 88, thierry.dedouche@waa-ultra.com
Categories: State

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