A main national position-of-sale loan company in the substantial advancement photo voltaic and sustainable residence methods industries
Northampton, MA –Information Immediate– Fifth Third Bancorp
CINCINNATI, January 19, 2022 /3BL Media/ – Fifth Third Bancorp these days declared a definitive settlement to acquire Dividend Finance, a leading fintech stage-of-sale (POS) loan company, delivering funding answers for household renewable strength and sustainability-centered dwelling advancement.
“The addition of Dividend Finance to our renewable energy portfolio improves the scale of Fifth Third’s escalating digital provider capabilities and supports the Bank’s motivation to environmental leadership in economical companies,” reported Greg Carmichael, Fifth 3rd chairman and CEO. “Together, we will assist our clients with progressive, engineering-pushed monetary methods.”
Dividend Finance was launched in 2013 in San Francisco and is just one of the leading nationwide solar loan companies. With a vision of producing a more economical and sustainable environment by enabling far more investment decision in renewable power, Dividend pioneered a funding design to enhance the consequence for all parties and assist speed up the expansion of solar across the U.S. Dividend’s POS technologies platforms empower contractors and owners to easily accessibility funding for solar and house enhancement initiatives. LL Money is the bulk shareholder in Dividend Finance.
“The Dividend group shares Fifth Third’s motivation to solutions that boost customers’ life and has a powerful keep track of report of innovation, growth and fantastic client working experience,” mentioned Tim Spence, president of Fifth 3rd Financial institution. “We’re thrilled to add Dividend’s greatest-in-course lending expertise, which fulfills customers’ evolving preferences and allows them speed up their transition to a far more sustainable foreseeable future.”
“We are happy and excited to join the Fifth 3rd team. Their concentration on tech-pushed innovation and leadership on ESG issues is nicely recognized and will complement our society. Dividend’s capability to leverage the extensive harmony sheet, advantaged value-of-money and broader sources of Fifth 3rd will provide a remarkable edge to our consumers and help us to continue to speed up development,” explained Eric White, Dividend Finance CEO.
“We are very pleased to have supported and partnered with Dividend Finance all through their progress and take into consideration them to be a leader between their peers,” explained Raj Mundy, lover at LL Money and Government Chairman of Dividend Finance. “We are delighted to see the enterprise turn out to be component of the Fifth 3rd relatives, and self-assured that its development and momentum will be further more enabled by this transition.”
Giving a broad range of bank loan solutions across multiple proprietary POS platforms, Dividend Finance has created a one particular-cease resolution that permits contractors to provide the best financing working experience for their prospects. Dividend’s digital lending platform is created for customizability, offering contractors with the tools to acquire new organization and borrowers with a streamlined method for funding household improvement jobs. In addition to a sturdy contractor community and a leading technology platform, Dividend has a nationwide buyer footprint targeted on prime and tremendous-key borrowers.
Fifth Third is focused on 3 environmental sustainability tactics: decreasing the Bank’s environmental footprint, controlling local climate-linked risks and supporting our buyers and communities in the changeover to a extra sustainable foreseeable future. In 2020, Fifth Third set its first sustainable finance intention of $8 billion to be realized by 2025. This includes lending and financing for photo voltaic, wind, geothermal, biomass and hydropower. As a final result of this acquisition and Fifth Third’s present leadership situation in providing renewable options to commercial purchasers, Fifth 3rd is actively assessing a new sustainable financing target. Moreover, Fifth Third’s Environmental, Social and Governance (ESG) report outlines the Bank’s entire weather strategy.
The acquisition is matter to customary closing conditions, like regulatory approvals. Fifth Third currently expects the transaction to shut in the next quarter of 2022. Macquarie Cash served as financial advisor and Dentons served as lawful counsel to Dividend Finance.
About Dividend Finance
Dividend is a leading FinTech level-of-sale lender for house enhancement and photo voltaic financing options. Started in 2013, the Corporation companions with photo voltaic and house enhancement contractors throughout the U.S. to offer you a range of financing solutions through its proprietary level-of-sale platforms. Discover more by viewing www.dividendfinance.com.
About LL Money
Established in 2009, LL Money is an unbiased financial investment firm taking care of ~$2.9 billion for institutional and individual investors. The agency focuses on Fintech organizations, making each equity and financial debt investments. Because inception, LL has produced about $3.4 billion of financial commitment gains and distributed over $4 billion to investors.
About Fifth Third
Fifth 3rd Bancorp is a diversified money solutions enterprise headquartered in Cincinnati, Ohio, and the oblique father or mother business of Fifth 3rd Bank, National Association, a federally chartered establishment. As of December 31, 2021, the Corporation experienced $211 billion in property and operates 1,117 complete-services Banking Facilities, and 2,322 Fifth 3rd branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Ga, North Carolina and South Carolina. In full, Fifth 3rd supplies its buyers with entry to somewhere around 54,000 price-no cost ATMs throughout the United States. Fifth 3rd operates four major businesses: Professional Banking, Branch Banking, Shopper Lending, and Wealth & Asset Management. Fifth 3rd is among the the premier revenue professionals in the Midwest and, as of December 31, 2021, had $554 billion in belongings underneath treatment, of which it managed $65 billion for persons, companies and not-for-gain organizations by way of its Have faith in and Registered Financial commitment Advisory businesses. Investor information and push releases can be considered at www.53.com. Fifth Third’s frequent stock is traded on the NASDAQ® Global Pick out Marketplace beneath the symbol “FITB.”
GATINEAU, QC, Dec. 17, 2021 /CNW Telbec/ – Workers and businesses in the tourism and hospitality sector have been hit hard by the COVID-19 pandemic. The Government of Canada has a plan to support hard-hit sectors, help businesses adapt and thrive, and give Canadians the skills they need to find good jobs as our economy continues to recover.
Today, Minister of Employment, Workforce Development and Disability Inclusion, Carla Qualtrough, announced up to $67 million in funding to support Canada’s tourism and hospitality sector through the Sectoral Initiatives Program (SIP). This funding supports 24 projects that will help employers and industry stakeholders in the tourism and hospitality sector to attract and retain skilled workers, build capacity through training and resources, and remove barriers for groups – including women, youth, Indigenous peoples, newcomers, persons with disabilities and LGBTQ2 Canadians – that continue to be under-represented in the labour market. Projects will also provide training opportunities to workers who have been displaced by the COVID-19 pandemic and work to stimulate the economy in Indigenous communities.
Budget 2021 committed $1.78 billion over three years through several new initiatives that support the skills development and training of workers, and provide incentives for employers to hire and retain them. These measures will help create almost 500,000 new job and training opportunities for workers over the coming years. The Government of Canada had committed to creating over one million jobs, restoring employment to pre-pandemic levels, and this was achieved last month.
Quotes
“The Government is working closely with the tourism and hospitality sector to help address challenges they face as a result of the COVID-19 pandemic. The funding announced today helps businesses get back on their feet and attract and retain the skilled workers the tourism industry needs. Not only are we supporting Canadians who traditionally face barriers to the labour market and providing workers the support they need to find good jobs, we are also helping the tourism sector bounce back.” – Minister of Employment, Workforce Development and Disability Inclusion, Carla Qualtrough
“The Canadian tourism sector has been among the most impacted by COVID-19 and the economy of our country will not fully recover until tourism recovers. The funding announced today will help businesses address labour shortages by bringing in and keeping skilled workers, building capacity and ensuring inclusion and diversity in the tourism labour force. Canada’s tourism labour force is key – our welcoming workforce is one of our best assets and we’ll continue to work with partners to ensure they are even better positioned to safely welcome back guests when it is possible to do so.”
– Minister of Tourism and Associate Minister of Finance, Randy Boissonnault
Quick Facts
These 24 projects were selected through an open call for proposals process that ran from January 22, 2021 to March 4, 2021.
The tourism and hospitality sector has been one of the hardest hit sectors by the pandemic. According to the Conference Board of Canada’s Briefing: COVID-19 Impact on Tourism Sector Employment and Revenues, it is expected that employment in the sector will remain below 2019 levels until 2023.
Outbreaks of COVID-19 that resulted in lockdowns caused tourism employment to drop anywhere from 15{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to 23{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. As of April 2021, tourism employed 520,000 fewer workers than it had in February 2020, the last month before the pandemic reached Canada, an employment drop of over 25{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.
The tourism and hospitality sector is a significant source of employment for young workers and newcomers. In 2019, youth (persons age 15–24) held more jobs in tourism than any other age group, representing 34{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of Canada’s tourism workforce, and 28{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of tourism employees were immigrants or non-permanent residents
The Sectoral Initiatives Program will be integrated into the new Sectoral Workforce Solutions Program (SWSP), which received $960 million through Budget 2021 to support key sectors of the economy to implement industry-driven solutions to address current and emerging workforce needs.
The SWSP will help employers find skilled workers and connect Canadians with the training they need. It will also provide workers who have been displaced by the COVID-19 pandemic with training opportunities. This program will help businesses and workers prepare for workforce transitions in the rapidly changing green economy, address labour shortages in sectors like healthcare, and help our economy grow.
The SWSP will have an expanded scope for large-scale projects that offer a broader range of sector-focused activities, including training and upskilling, and developing solutions for workforce challenges.
The SWSP is anticipated to launch calls for proposals early in January 2022.
SAN FRANCISCO–(BUSINESS WIRE)–Embroker, the digital platform making it radically simple to get business insurance, today announced that it has surpassed an annual $100M premium run rate, a milestone that equates to more than 120{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} revenue growth year over year. The company also released other leadership milestones, including customer and employee growth, and expanded its executive team with a new CFO, Brian Acks.
The company’s growth represents the strength of its powerful digital business insurance platform that focuses on industry-specific coverage for the most complex and inefficient lines of insurance. Embroker applies modern data-driven underwriting models to assess risk, and create policies that better protect companies against that risk.
In addition to revenue growth, the company announced that it now serves more than 8,000 customers, spanning startups to publicly-listed multinational enterprises, and has more than doubled the size of its customer base over the last year. Embroker’s suite of digital insurance options include products like Directors and Officers (D&O), Employment Practice Liability (EPLI), Errors and Omissions (E&O), Cyber, Crime and others. Management liability products (D&O, EPLI) alone have experienced 3x growth in the past year.
Embroker is also delivering the highest level of customer satisfaction in the industry, with a Net Promoter Score (NPS) of 81. In addition to its online platform, Embroker offers in-house experts to guide customers through the process and to provide insight on risk management at key points in a company’s growth.
“Five years ago sophisticated digital business insurance didn’t exist. When Embroker was founded, we looked at the opportunity to build a better type of business insurance, thoroughly rejecting the legacy approach and instead modeling risk and designing products that cater to the needs of specific types of companies. Fast forward to 2021 and the market is wholeheartedly embracing Embroker’s intelligent digital platform, and we are delivering significant value to our growing base of customers,” said Matt Miller, CEO and Founder of Embroker. “It has been an impressive year of growth for the company, with new products and a strong growing team of experts. We’re looking forward to taking this momentum into 2022, adding new products and capabilities, and continuing to make business insurance more tailored, less expensive, and easier to purchase.”
Leadership Expansion
Accompanying the company’s growth is the continued expansion of its executive bench. Brian Acks, formerly head of finance at Vouch, is joining Embroker as its new CFO. Acks has over 15 years in the Commercial P&C insurance industry, including lengthy experience at CNA, a top 10 commercial insurer. Miller added that hiring Acks means the company is following through on growth plans that were first announced when the company raised $100M series C financing. In total, Embroker has raised over $140 million in funding.
“I have joined a team that believes as I do and is taking big, bold, disruptive steps in the insurtech industry,” Acks said. “I am looking forward to joining the team and driving our insurance strategy, innovation, and expansion together.”
Embroker is transforming commercial insurance by making it radically simple for businesses to get the right insurance at the best price. Embroker focuses on industry-specific coverage for the most complex and inefficient lines of insurance, such as Directors and Officers, Employment Practices Liability, Cyber, and Professional Liability. Embroker uses predictive modeling powered by proprietary technology to fully automate underwriting and make the buying process simple, fast, and more affordable. Through Embroker Access, Embroker provides partner agencies and wholesalers with the capability to offer all of Embroker’s industry-leading insurance products to their customers. Founded in 2015, Embroker is headquartered in San Francisco and has raised more than $140M in funding from leading Fintech and Insurtech investors.
CSG® (NASDAQ: CSGS), the leader in innovative customer engagement, revenue management and payments solutions, today announced that Rolland “Rollie” B. Johns, executive vice president and chief financial officer of the company, has shared plans to step down. Concurrently, Hai Tran has been appointed as the company’s new executive vice president and chief financial officer effective November 29.
Hai Tran, new CFO for CSG
“On behalf of the entire CSG team, I thank Rollie for his significant contributions and many years of service,” said Brian Shepherd, president and CEO for CSG. “Rollie has been a trusted and valuable business leader and partner to me, our Board, and our employees. Equally important, Rollie has built a strong global CFO team that is well positioned for continued success. We wish him all the best in his future endeavors.”
Shepherd added, “At the same time, I am very excited to announce the addition of Hai to Team CSG. Hai has a proven track record as a strategic, growth-oriented chief financial officer with deep public-company, global technology experience. He is a fantastic fit for CSG at this transformational juncture of our company’s history and will be instrumental in helping us passionately pursue our plans of becoming a more purpose-driven, higher growth, SaaS platform company.”
“I am honored to be appointed chief financial officer during this truly exciting time at CSG, as the company accelerates our strategic transformation,” said Tran. “CSG’s guiding principles and mission resonate deeply with me as we look to not only grow and diversify into new verticals, but also make ordinary customer and employee experiences extraordinary. Putting customers and employees at the center of everything we do will drive long-term and sustained value-creation for all of our stakeholders.”
Tran will be responsible for overseeing CSG’s global financial operations, including CSG’s finance, accounting, treasury, risk, and investor relations functions and will report directly to Shepherd.
Tran brings 30 years of finance and business experience, having most recently served as president and chief operating officer at Soc Telemed, the largest U.S. provider of acute care telemedicine services. Prior to that he has served as chief financial officer at a number of companies including Soc Telemed, BioScrip, Inc., Harris Healthcare Solutions and Catalyst Health Solutions.
Johns joined CSG in 2013 as chief accounting officer and since becoming CFO in 2018 has led CSG’s finance, accounting, treasury, risk, and investor relations functions.
About CSG
CSG is a leader in innovative customer engagement, revenue management and payments solutions that make ordinary customer experiences extraordinary. Our cloud-first architecture and customer-obsessed mindset help companies around the world launch new digital services, expand into new markets, and create dynamic experiences that capture new customers and build brand loyalty. For nearly 40 years, CSG’s technologies and people have helped some of the world’s most recognizable brands solve their toughest business challenges and evolve to meet the demands of today’s digital economy with future-ready SaaS platforms that drive exceptional customer experiences. With 5,000 employees in over 20 countries, CSG is the trusted technology provider for leading global brands in telecommunications, retail, financial services, government, and healthcare. Our solutions deliver real world outcomes to more than 900 customers in over 120 countries. To learn more, visit us at csgi.com and connect with us on LinkedIn and Twitter.
ANN ARBOR, MI / ACCESSWIRE / November 12, 2021 / Zomedica Corp. (NYSE American:ZOM) (“Zomedica” or “Company”), a veterinary health company creating point-of-care diagnostics products for dogs and cats, today reported consolidated financial results for the three and nine months ended September 30, 2021. Amounts, unless specified otherwise, are expressed in U.S. dollars and presented under accounting principles generally accepted in the United States of America (“U.S. GAAP”). Third quarter results do not include operations of PulseVet which were acquired on October 1, 2021.
Larry Heaton, Chief Executive Officer of Zomedica, stated that, “During the third quarter the team at Zomedica continued building the installed base of TRUFORMA® instruments through our Customer Appreciation Program (CAP), which provides select customers with an instrument at no charge as long as they agree to purchase assay cartridges. Customer response to this program has been encouraging, with 144 customers enrolled to date, and we plan to continue offering it through the end of the year. We expect revenue from these CAP program customers to build sequentially as they utilize cartridges currently available, and new ones as they are released to market. We continue to work with our partner, Qorvo Biotechnologies, to develop new assays for the TRUFORMA® instrument and expect to release several new assays to market in 2022.
Mr. Heaton continued, “Business development was an important focus of the Zomedica team during the third quarter, which led to the culmination of Zomedica’s first acquisition on October 1, 2021, when Pulse Veterinary Technologies (“PulseVet”) became a Zomedica Company. We’re excited about the opportunities to combine the sales and marketing efforts of the respective companies to broaden the introduction of PulseVet’s market-leading shock-wave therapy to the small animal market and the potential future opportunity to introduce TRUFORMA® technology into the equine market.”
“The third quarter reflected Zomedica’s dual approach to realizing growth – building the installed base of TRUFORMA® technology to produce organic growth, and active business development efforts through strategic investments to expand our product offerings, technologies and product development efforts. During the balance of the year, we’re continuing this strategy as we expand the sales and marketing teams and provide the training needed to effectively sell into the animal health marketplace.”
Summary Third Quarter 2021 Results
Zomedica recorded net loss and comprehensive loss for the three and nine months ended September 30, 2021 of approximately $6.3 million, or $0.01 per share, and approximately $15.1 million, or $0.05 per share, respectively, compared to a net loss and comprehensive loss of approximately $5.0 million, or $0.01 per share, and approximately $12.7 million, or $0.04 per share, for the three and nine months ended September 30, 2020.
Revenue for the three and nine months ended September 30, 2021 was $22,514 and $52,331, respectively, and resulted from the sale of our TRUFORMA® products and associated warranties. We commenced commercialization of TRUFORMA® on March 15, 2021 and accordingly have had only limited sales activity in the first three quarters of 2021.
Cost of revenue for the three and nine months ended September 30, 2021 was $17,899 and $59,433, respectively. As noted above, commercialization of TRUFORMA® commenced on March 15, 2021. We expect that cost of revenue will increase as we sell additional products in subsequent periods, inclusive of costs associated with PulseVet’s operations.
Research and development expense for the three and nine months ended September 30, 2021 was approximately $0.3 million and approximately $1.0 million, respectively, compared to approximately $2.7 million and $7.2 million for the three and nine months ended September 30, 2020, respectively, representing a decrease of approximately $2.4 million, or 89{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, over the prior three-month period and a decrease of approximately $6.2 million, or 86{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, for the prior nine-month period. The decrease in both periods was a result of an overall reduction in research and development costs related to TRUFORMA® as we completed development of the instrument and three of the first five assays and began transitioning to commercialization activities.
Selling, general and administrative expense for the three months ended September 30, 2021 was approximately $6.1 million, compared to approximately $2.3 million for the three months ended September 30, 2020, an increase of approximately $3.8 million, or 166{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. The increase primarily was due to an increase in share-based compensation expense, which was approximately $1.5 million for the three months ended September 30, 2021, compared to approximately $0.2 million for the comparable period in 2020. Other significant increases include professional fees of approximately $2.1 million relating to the PulseVet acquisition and increased fees associated with SEC compliance requirements, and salaries for administrative and sales personnel of approximately $0.4 million.
Selling, general and administrative expense for the nine months ended September 30, 2021 was approximately $14.6 million, compared to approximately $5.4 million for the nine months ended September 30, 2020, an increase of approximately $9.2 million, or 169{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. The increase primarily was due to an increase in share-based compensation expense, which was approximately $4.5 million for the nine months ended September 30, 2021, compared to approximately $0.5 million for the comparable period in 2020, as a result of stock option grants made during the first quarter of 2021. Other significant increases include professional fees of approximately $2.9 million, related primarily to the PulseVet acquisition, and the exchange of our Series 1 preferred stock, as well as increased fees associated with filings compliance requirements, salaries of approximately $1.1 million, regulatory fees incurred for the annual shareholders meeting of approximately $0.8 million largely as a result of administrative costs related to increases in the shareholder base, marketing, travel and office expense of approximately $0.3 million, and contracted expenditures of approximately $0.1 million.
Liquidity and Outstanding Share Capital
Zomedica had cash and cash equivalents of approximately $271.4 million as of September 30, 2021, compared to approximately $52 as of September 30, 2020. The increase in cash is mainly a result of the cash flows from financing activities, partially offset by cash flows used in operating and investing activities as discussed below. After giving effect to the acquisition of PulseVet, Zomedica had pro forma cash and cash equivalents of approximately $199.5 million as of September 30, 2021.As of September 30, 2021, Zomedica had shareholders’ equity of approximately $271.6 million.
Net cash used in operating activities for the nine months ended September 30, 2021 was approximately $9.4 million, compared to approximately $15.6 million for the nine months ended September 30, 2020, a decrease of approximately $4.2 million, or 40{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. The reduction in net cash used in operating activities resulted primarily from a $4.5 million non-cash stock compensation expense in the 2021 period, approximately $0.5 million in gains recognized on extinguishment of debt, a loss on disposal of property of $0.2 million, and an increase in accounts payable in the 2021 period of approximately $3.2 million. These amounts were offset in part by an increase in inventory purchases of approximately $1.9 million. Other non-cash activity in the 2021 period included amortization and depreciation of approximately $0.3 million.
Net cash used in investing activities for the nine months ended September 30, 2021 was approximately $0.3 million, compared to net cash provided of approximately $1.0 million for the nine months ended September 30, 2020, an increase in net cash used of approximately $1.3 million, or 134{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. The increase in net cash used in investing activities resulted from the receipt of cash from the modification of our lease in the first half of 2020, compared to investments of intangible and other property and equipment in the current period.
Net cash from financing activities for the nine months ended September 30, 2021 was approximately $219.1 million, compared to approximately $64.1 million for the nine months ended September 30, 2020, an increase of approximately $155.1 million, or 242{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. The increase resulted primarily from the sale of our equity securities in 2021 for total gross proceeds of approximately $199.5 million, cash received of approximately $32.1 million from warrant exercises, and cash received of approximately $1.4 million from stock option exercises, offset by stock issuance costs of approximately $14.3 million.
As of September 30, 2021, Zomedica had an unlimited number of authorized common shares with 979,738,168 common shares issued and outstanding.
As of November 12, 2021, Zomedica had 979,894,668 common shares issued and outstanding.
For complete financial results, please see Zomedica’s filings on EDGAR and SEDAR or visit the Zomedica website at www.ZOMEDICA.com.
About Zomedica
Based in Ann Arbor, Michigan, Zomedica (NYSE American: ZOM) is a veterinary health company creating products for companion animals by focusing on the unmet needs of clinical veterinarians. Zomedica’s product portfolio will include innovative diagnostics and medical devices that emphasize patient health and practice health. It is Zomedica’s mission to provide veterinarians the opportunity to increase productivity and grow revenue while better serving the animals in their care. For more information, visit www.ZOMEDICA.com.
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Reader Advisory
Except for statements of historical fact, this news release contains certain “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur and include statements relating to our expectations regarding future results. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date
the statements are made, including assumptions with respect to American economic growth, demand for the Company’s products, the Company’s ability to produce and sell its products, our ability to successfully integrate and operate the PulseVet business, the sufficiency of our budgeted capital and operating expenditures, the cost, adequacy and availability of supplies required for our operations, the satisfaction by our strategic partners of their obligations under our commercial agreements, our ability to realize upon our business plans and cost control efforts and the impact of COVID-19 on our business, results, and financial condition.
Our forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; uncertainty as to the timing and results of development work and verification and validation studies; uncertainty as to the timing and results of commercialization efforts, as well as the cost of commercialization efforts, including the cost to develop an internal sales force and manage our growth; uncertainty as to our ability to successfully integrate and operate the Pulse Vet business, uncertainty as to our ability to supply equipment and assays in response to customer demand; uncertainty regarding the cost, adequacy and availability of supplies required for our operations; uncertainty as to the likelihood and timing of any required regulatory approvals, and the availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; veterinary acceptance of our products; competition from related products; the level of expenditures necessary to maintain and improve
the quality of products and services; changes in technology and changes in laws and regulations; our ability to secure and maintain strategic relationships; performance by our strategic partners of their obligations under our commercial agreements, including product manufacturing obligations: risks pertaining to permits and licensing, intellectual property infringement risks, risks relating to any required clinical trials and regulatory approvals, risks relating to the safety and efficacy of our products, the use of our products, intellectual property protection, risks related to the COVID-19 pandemic and its impact upon our business operations generally, including our ability to develop and commercialize our products, and the other risk factors disclosed in our filings with the SEC and under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Investor Relations Contacts PCG Advisory Group Kirin Smith, President ksmith@pcgadvisory.com +1.646.823.8656
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE Solutions OR FOR DISSEMINATION IN THE UNITED STATES.
This news launch constitutes a “designated news release” for the functions of the Company’s prospectus nutritional supplement dated February 2, 2021 to its shorter variety foundation shelf prospectus dated January 27, 2021.
VANCOUVER, British Columbia, Nov. 09, 2021 (Globe NEWSWIRE) — HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HIVE) (FSE:HBF) (the “Company” or “HIVE”) is delighted to announce that it has entered into an agreement with Stifel GMP as lead underwriter and sole bookrunner to incorporate a syndicate of underwriters (the “Underwriters”), whereby the Underwriters will purchase, on a acquired-offer basis, 16,670,000 distinctive warrants of the Organization (the “Special Warrants”) at a value of $6.00 for each Special Warrant for aggregate gross proceeds to the Business of $100,020,000 (the “Offering”). The completion of the Offering will be subject matter to receipt of all needed regulatory and corporate approvals or consents.
The Corporation will grant the Underwriters an solution to increase the measurement of the Featuring by up to an extra 15{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of the Exclusive Warrants offered less than the Featuring, exercisable in entire or in section, at any time and from time to time up to 48 hrs prior to the Closing Day (as hereinafter outlined).
Each and every Unique Warrant shall entitle the holder thereof to acquire, matter to adjustment in particular situation and the Penalty Provision (as defined down below), and without payment of further thought, just one (1) device of the Enterprise (every single a “Unit”) on the training or considered exercise of each Exclusive Warrant. Every Unit shall consist of one (1) prevalent share of the Firm (a “Unit Share”) and one-50 percent (.5) of 1 typical share purchase warrant (each total prevalent share purchase warrant, a “Warrant”). Each Warrant will entitle the holder thereof to obtain just one frequent share of the Corporation (a “Warrant Share”) at a rate of $6.00 per Warrant Share for a period of time of 36 months following the closing of the Offering. The Unique Warrants will be exercisable by the holders thereof at any time following the Closing Day for no further consideration. All unexercised Special Warrants shall be considered exercised on behalf of, and with out any required action on the element of, the holders (which include payment of added consideration) on the previously of:
(i)
the second company day following the day on which a last receipt is obtained from the British Columbia Securities Commission (the “BCSC”), as principal regulator on behalf of the securities regulatory authorities in each Province of Canada, besides Québec , for a (last) small variety prospectus qualifying the distribution of the Unit Shares and Warrants to be issued on training of the Unique Warrants (the “Qualification Date”) and
(ii)
4:59 p.m. (Toronto time) on the date which is four months and a working day adhering to the Closing Day (the “Qualification Deadline”).
In the celebration the Qualification Date has not happened on or ahead of the day that is 45 days adhering to the Closing Day (the “Penalty Date”), every single outstanding Particular Warrant shall thereafter entitle the holder to obtain, on the physical exercise or considered exercise of just about every Unique Warrant, for no additional thought, 1.1 Units (the “Penalty Provision”).
The Enterprise anticipates the net proceeds of the Supplying will be applied for a program of data centre enhancement and miner / ASIC acquisition to boost hashrate by on just one Exahash for each 2nd, performing money needs and other normal company needs.
In thing to consider for their products and services, the Underwriters will get a money fee equivalent to 6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of the gross proceeds of the Giving.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any condition securities legislation, and accordingly, may possibly not be made available or offered in just the United States except in compliance with the registration needs of the U.S. Securities Act and applicable point out securities specifications or pursuant to exemptions therefrom. This press launch does not represent an offer to market or a solicitation to invest in any securities in any jurisdiction.
About HIVE Blockchain Systems Ltd.
HIVE Blockchain Systems Ltd. went public in 2017 as the very first cryptocurrency mining firm with a eco-friendly power and ESG technique.
HIVE is a advancement-oriented technology stock in the emergent blockchain marketplace. As a business whose shares trade on a major stock exchange, we are setting up a bridge in between the digital currency and blockchain sector and conventional money markets. HIVE owns state-of-the-artwork, environmentally friendly energy-powered facts centre amenities in Canada, Sweden, and Iceland, where by we resource only environmentally friendly electricity to mine on the cloud and HODL both of those Ethereum and Bitcoin. Because the beginning of 2021, HIVE has held in secure storage the the vast majority of its ETH and BTC coin mining benefits. Our shares present buyers with publicity to the functioning margins of digital forex mining, as very well as a portfolio of cryptocurrencies such as ETH and BTC. Due to the fact HIVE also owns tricky assets these kinds of as details centers and superior multi-use servers, we consider our shares supply traders an eye-catching way to acquire exposure to the cryptocurrency area.
We stimulate you to stop by HIVE’s YouTube channel below to understand far more about HIVE.
On Behalf of HIVE Blockchain Systems Ltd. “Frank Holmes” Government Chairman
For more information and facts you should make contact with:
Frank Holmes Tel: (604) 664-1078
Neither the TSX Undertaking Trade nor its Regulation Companies Service provider (as that term is described in guidelines of the TSX Undertaking Exchange) accepts accountability for the adequacy or accuracy of this news release
Ahead-Wanting Facts
Other than for the statements of historical reality, this information launch consists of “forward-searching information” within just the which means of the relevant Canadian securities legislation that is primarily based on expectations, estimates and projections as at the day of this news launch. “Forward-seeking information” in this information release incorporates, but is not confined to, statements with respect to facts about the Featuring and the use of proceeds, potential dilution and application of the Penalty Provision company objectives and objectives of the Business and other forward-hunting data about the intentions, programs and foreseeable future steps of the get-togethers to the transactions described herein and the phrases thereon.
Things that could bring about real effects to differ materially from people described in these forward-seeking details consist of, but are not minimal to, the volatility of the digital currency marketplace the Company’s capacity to correctly mine digital forex the Enterprise may perhaps not be able to profitably liquidate its latest electronic currency stock as demanded, or at all a materials decline in electronic forex price ranges may have a sizeable detrimental impact on the Company’s functions the volatility of electronic forex price ranges continued outcomes of the COVID-19 pandemic might have a materials adverse influence on the Company’s overall performance as offer chains are disrupted and avert the Business from carrying out its expansion ideas or running its property and other related challenges as far more completely set out in the registration statement of Corporation and other documents disclosed under the Company’s filings at www.sec.gov/EDGAR and www.sedar.com.
The forward-searching details in this news launch reflects the recent expectations, assumptions and/or beliefs of the Business dependent on info currently offered to the Firm. In connection with the ahead-searching facts contained in this information release, the Enterprise has created assumptions about the Company’s potential to comprehensive the Featuring the timing thereof and associated issues. The Enterprise has also assumed that no considerable gatherings take place outside of the Firm’s standard training course of organization. Though the Company thinks that the assumptions inherent in the forward-hunting information and facts are acceptable, ahead-wanting details is not a assure of long run overall performance and appropriately undue reliance should not be set on these details due to the inherent uncertainty therein.
