Posted by AGORACOM-JC
at 4:35 PM on Tuesday, April 16th, 2019
PyroGenesis
is one of Canada’s greatest small cap technology companies, with several
successful divisions that are succeeding both globally and at the highest
levels of business. The common denominator for each of them is the
company’s plasma torch technology. For example, 2 US Aircraft Carriers
(and 2 more on the way) have integrated Pyro’s plasma torch technology for
environmental applications. At $13 Billion per carrier now, one can only
imagine the hyper-stringent hoops PyroGenesis had to pass – which puts their
technology at the world class level.
In
addition to other equally impressive applications, the company’s 3D printing
(additive manufacturing) division has also achieved great success in the past
year, culminating with a mutually exclusive partnership agreement with Aubert
& Duval, a subsidiary of the ERAMET Group with 2017 sales of approximately
$CDN 5.4 Billion and assets of approximately $CDN 4.9 billion. For over
100 years, Aubert & Duval has been a world leader in industrializing
high-performance steel, super alloy, aluminum and titanium alloys. More
specifically, they are a recognized supplier of metal powders for additive
manufacturing, serving the Aerospace, Energy, Transport, Medical, Defense,
Automotive and other large scale, demanding markets.
Just
recently, for the second year in a row, the company was nominated for materials
company of the year at the 3D printing awards.
Today,
PyroGenesis announced the spinout of its 3D printing division in order to
unlock value for shareholders and become more attractive to institutional
investors that are strictly focused on 3D printing. In addition, the
company believes that uplisting will also make both the new company and the
existing company more attractive to institutional investors that are precluded
from investing on junior exchanges.
We were
proud to sit down with CEO, Peter Pascali, and discuss all the benefits and
implications of this major development. Grab your favourite drink, sit
back and watch this great interview!
Posted by AGORACOM-JC
at 1:33 PM on Tuesday, April 16th, 2019
Board of Directors is moving forward with the previously announced spin-off of PyroGenesis Additive, a division specializing in developing, commercializing and advancing plasma-atomized metal powder for the additive manufacturing industry.
Additionally, the Company is also considering uplisting its stock to a more senior exchange. Â
MONTREAL, April 16, 2019 — PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF) (FRA: 8PY), a high-tech company, (the “Company”, the “Corporation†or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, today announced that the Board of Directors is moving forward with the previously announced spin-off of PyroGenesis Additive, a division specializing in developing, commercializing and advancing plasma-atomized metal powder for the additive manufacturing (“AMâ€) industry. Additionally, the Company is also considering uplisting its stock to a more senior exchange. Â
Mr. P. Peter Pascali, President and CEO of PyroGenesis, provides this
update on today’s announcements in the following Q&A format. The
questions, for the most part, are derived from inquiries received from
investors, and analysts:
Q. The spin-off of PyroGenesis Additive. It has been a long time in the making.
A. Indeed it has, and for some very good
reasons. The space has been rocked with change and we had to ensure that
our investors received maximum return from the spin-off, and at values
management felt were fair. I believe that there has been no better time
than now to move forward with the spin-off. These strategic delays have
effectively increased shareholder’s value.
Q. Could you explain those reasons to readers who are new to the story?
A. Most certainly.
Almost three years to the day, in the spring of 2016, we announced
our intention to spin-off our additive manufacturing capabilities to
maximize shareholder value and increase options to the Company. The
original idea was to consider a small concurrent financing to fund the
immediate need which was essentially to have a first system in place
producing powders.
Between the announcement and September 2016, while we were weighing
the options and various structures the spin-off could take, GE announced
that they had acquired Arcam and Concept Laser (both manufacturers of
printers which make metal 3D parts).
GE’s acquisitions arguably disrupted the supply chain of titanium
powders to the industry with the indirect acquisition of a subsidiary of
Arcam which had become the dominant supplier of such powder to the
space. It was imperative that we understood the impact of these
acquisitions on our decision to spin-off before we moved forward.
Once we understood the impact of the acquisition on the market, we
decided to postpone the spin-off until our first powder production
system was assembled which was only a few months away. We then waited
until the ramp up was completed. These delays removed any doubts, in the
marketplace, that we could produce quality powders, and as such,
increased the value of the spin-off to current investors.
Given the reception of our powder by the market (in 2018, we were
nominated Materials Company of the Year at the 3D Printing Industry
Awards, which speaks to how much we had accomplished in such a short
time), we felt we were close to a key contract and/or a significant
relationship, and decided to wait until one or the other was in hand.
In the summer of 2018, discussions took place with Aubert & Duval
which lead to the joint press release of January 8, 2019 describing a
mutually exclusive relationship with respect to the distribution of
PyroGenesis’ titanium powder to the AM industry in Europe.
Given what has taken place, and what we know now, management has made
a strategic decision to spin-off PyroGenesis Additive at this time.
Q. Why spin-off PyroGenesis Additive in the first place?
A. There are a number of reasons, but they all boil down to one goal: simplicity.
The reason to spin-off PyroGenesis Additive is primarily to attract
an investor base best suited to their unique value proposition,
particular business operations, and financial characteristics, thereby
maximizing shareholders’ value and placing it in a better position to
generate revenues and develop strategic relationships than had it
remained part of the PyroGenesis stable of technologies.
The simpler an offering is the easier it is for analysts to understand and value it properly. As
it stands now PyroGenesis Additive is part of PyroGenesis Canada Inc’s
offerings which include Drosrite™, US Military, and Purevap™, just to
name a few, and as such makes it complicated to analyze. Add to this
that analysts typically specialize in one sector or another, and as such
may very well be able to fully value PyroGenesis’ Additive’s offering,
but would be hard pressed to do equal justice to PyroGenesis’ other
business lines, and you have a significantly undervalued group of
assets. Spinning one group off would unlock this value.
Simplifying an offering would also make it easier to attract
investment. There are large pools of money interested in investing in
the AM space, but have no desire to have their funds comingled with
unrelated business lines. A spin-off would assure them that such funds
would be used for AM alone.
Last but not least, a spin-off creates a well understood entity with which interested parties could joint venture or acquire. Bottom line: a spin-off creates simplicity, which in and of itself, increases interest, all to the benefit of shareholders.
Q. Any challenges in a spin-off?
A. There are many, but the two that I think
are key are timing and structure. The timing and structure of a
spin-off is critical to its survivability. The spin-off must be done in
a context where it can grow and mature, not much different from a young
adult leaving home.
It is management’s firm belief that given recent announcements, and
what we anticipate taking place in the near term, spinning-off
PyroGenesis Additive is now overdue.
Q. Are there any other factors motivating your decision to spin-off PyroGenesis Additive at this particular time?
A. Yes. There is a huge interest by our
partners to spin-off PyroGenesis Additive for all the reasons given
above. This is a major factor in our decision to move forward now.
Q. You also announced today that you are considering an uplisting. Could you describe what this means?
A. The Company’s stock currently trades on
the TSX Venture Exchange (“TSX-Vâ€). Although a good exchange it does
have its limitations. It may be a good place for a company to list
initially but, in time, a company should consider moving to a bigger and
better exchange. By bigger and better I mean one which will attract
more interest and as such attract greater investment which by default
would translate into a higher stock price. This is a natural progression
and the TSX-V boasts of the number of companies that have uplisted from
their platform.
I think it would be more appropriate to say that we are considering
which exchange to uplist on, rather than considering an uplisting. It
has already been decided that we have to become listed on a more senior
exchange, sooner than later.
Q. What would be the timing and what are the next steps?
A. Both uplistings and spin-offs require
regulatory approval and depending on the type and number of questions
from the regulators, will determine the time it takes to complete.
Assuming nothing out of the ordinary, either one could take 4-6 months.
Next steps would be to engage a Canadian based law firm, which we are
in the process of doing, and to engage an investment bank. We are
currently receiving proposals from investment bankers on both sides of
the border.
Q. What could delay the process?
A. As I said the process requires
regulatory review and approvals. There could be delays associated with
this. Other than that, funds. The process requires capital to complete
although a large part of it is success based and back-ended.
Q. Assuming money is not an object, and that the
regulatory approval process is not unduly burdensome, when are you
targeting these events to be completed?
A. Both in 2019, this year, but failing that, one this year and the other by Q1, 2020.
Q. Do you care to add any concluding remarks?
A. Yes, I would.
There has been a flurry of developments within our PyroGenesis
Additive segment. We started the year by announcing a significant
agreement with a multi-billion-dollar European Company to market our
powders to Europe on a mutually exclusive basis. This was followed by
our unveiling of our NexGen™ Plasma Atomization process with production
rates that shattered all published plasma atomization production rates.
Next, we announced that we had shipped specialty powders to a
government entity which was quickly followed by the announcement that we
had successfully produced titanium powders with the NexGen™. During
this time, we were also nominated for the second year in a row as
Materials Company of the Year at the 3D Printing Industry Awards 2019.
There is a consensus building that such news belongs on a better
platform. Management concurs, and is taking the necessary steps.
PyroGenesis Canada Inc., a high-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes and products. We provide engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, advanced materials (including 3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Our core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Our operations are ISO 9001:2015 certified, and have been since 1997. PyroGenesis is a publicly-traded Canadian Corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace. For more information, please visit www.pyrogenesis.com
This press release contains certain forward-looking statements,
including, without limitation, statements containing the words “may”,
“plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”,
“expect”, “in the process” and other similar expressions which
constitute “forward- looking information” within the meaning of
applicable securities laws. Forward-looking statements reflect the
Corporation’s current expectation and assumptions and are subject to a
number of risks and uncertainties that could cause actual results to
differ materially from those anticipated. These forward-looking
statements involve risks and uncertainties including, but not limited
to, our expectations regarding the acceptance of our products by the
market, our strategy to develop new products and enhance the
capabilities of existing products, our strategy with respect to research
and development, the impact of competitive products and pricing, new
product development, and uncertainties related to the regulatory
approval process. Such statements reflect the current views of the
Corporation with respect to future events and are subject to certain
risks and uncertainties and other risks detailed from time-to-time in
the Corporation’s ongoing filings with the securities regulatory
authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual
results, events, and performance may differ materially. Readers are
cautioned not to place undue reliance on these forward-looking
statements. The Corporation undertakes no obligation to publicly update
or revise any forward- looking statements either as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Neither the TSX Venture Exchange, its
Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) nor the OTCQB accepts responsibility for the
adequacy or accuracy of this press release.
Posted by AGORACOM-JC
at 11:30 AM on Tuesday, April 16th, 2019
Announced that the Board of Directors has approved the implementation of the necessary steps to spin-off PyroGenesis Additive,
A division specializing in developing, commercializing and advancing plasma-atomized metal powder for the additive manufacturing industry
MONTREAL, April 16, 2019 — PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF) (FRA: 8PY), a high-tech company, (the “Company”, the “Corporation†or “PyroGenesis”) that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, today announced that the Board of Directors has approved the implementation of the necessary steps to spin-off PyroGenesis Additive, a division specializing in developing, commercializing and advancing plasma-atomized metal powder for the additive manufacturing industry.
The terms of the spin-off are not yet agreed to, and will be
disclosed once they have been confirmed and approved by the Board.
Furthermore, it is expected that the spin-off will not represent more
than 50% of the assets of the Company.
“The reason to spin-off PyroGenesis Additive is primarily to attract
an investor base best suited to their unique value proposition,
particular business operations, and financial characteristics, thereby
maximizing shareholders’ value and placing it in a better position to
generate revenues and develop strategic relationships than had it
remained part of the PyroGenesis stable of technologies,†said Mr. P.
Peter Pascali, President and CEO of PyroGenesis. “A spin-off creates
simplicity which in and of itself increases interest, all to the benefit
of shareholders.â€
PyroGenesis Canada Inc., a TSX Venture 50® high-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes and products. We provide engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, advanced materials (including 3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Our core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Our operations are ISO 9001:2015 certified, and have been since 1997. PyroGenesis is a publicly-traded Canadian Corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace. For more information, please visit www.pyrogenesis.com
This press release contains certain forward-looking statements,
including, without limitation, statements containing the words “may”,
“plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”,
“expect”, “in the process” and other similar expressions which
constitute “forward- looking information” within the meaning of
applicable securities laws. Forward-looking statements reflect the
Corporation’s current expectation and assumptions and are subject to a
number of risks and uncertainties that could cause actual results to
differ materially from those anticipated. These forward-looking
statements involve risks and uncertainties including, but not limited
to, our expectations regarding the acceptance of our products by the
market, our strategy to develop new products and enhance the
capabilities of existing products, our strategy with respect to research
and development, the impact of competitive products and pricing, new
product development, and uncertainties related to the regulatory
approval process. Such statements reflect the current views of the
Corporation with respect to future events and are subject to certain
risks and uncertainties and other risks detailed from time-to-time in
the Corporation’s ongoing filings with the securities regulatory
authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com.
Actual results, events, and performance may differ materially. Readers
are cautioned not to place undue reliance on these forward-looking
statements. The Corporation undertakes no obligation to publicly update
or revise any forward- looking statements either as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Neither the TSX Venture Exchange, its
Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) nor the OTCQB accepts responsibility for the
adequacy or accuracy of this press release.
E-learning platforms are changing the Indian education landscape by addressing the demand-supply gap of both students as well as corporate employees by dispensing personalised learning outcomes, experts say.
Online learning has widened the scope of education and transcended it beyond classroom boundaries.
With high internet penetration in the last two years, it has taken over the traditional methods not just in the urban landscape but also in rural areas. The education system is evolving at a very fast pace, online education platform upGrad co-founder and MD Mayank Kumar said.
“With industries directly connecting with e-learning institutions
like ours, content has never been so up-to-date. All this put together
makes e-learning platforms complete, and students and working
professionals future-ready, in a matter of months,” he said.
Kumar noted that e-learning penetration in corporations is
increasing, regardless of the company’s size. Since class-based training
is more expensive, proportionately, for small and medium-sized firms,
these firms are increasingly recognising e-learning as a convenient and
cost-effective mode.
According to a report by KPMG, the Indian online education industry
will grow from 1.6 million users in 2016 to 9.6 million users by 2021.
“In the current scenario, professionals will be required to re-skill
themselves every 3-4 years to remain relevant in their evolving job
roles,” said Zairus Master, CEO, Shine Learning.com, which gives access
to certification courses from top global educational service providers.
At this scale, e-learning platforms are the only way forward.
Professionals will need to equip themselves with relevant skills before
their current skills become obsolete. Moreover, the government is
adopting a series of measures to bring a technological revolution to
accentuate e-learning which will ultimately lead to a major shift in the
Indian education sector, experts added.
“E-learning platforms are bringing a measurable difference in
students’ engagement and performance. It is reducing gaps in the
delivery of education and giving a new dimension to the education
space,” Pearson India Managing Director Vikas Singh said.
Posted by AGORACOM-JC
at 9:07 AM on Tuesday, April 16th, 2019
Announced the upcoming launch of its WASDPro eGaming and eSports streaming service www.wasdpro.tv.Â
WASDPro is a purpose built eGaming/eSports video streaming service built on the Peeks Social Platform.
Company’s goal for WASDPro is to capture and monetize a significant share of this growing market which currently produces 355bn minutes of eSports and gaming streams watched in 2017 — a 22% year over year increase compared to 2016.
TORONTO, April 16, 2019 — Peeks Social Ltd. (TSXV: PEEK; OTCQB: PKSLF) (“Peeks Social†or the “Companyâ€) is pleased to announce the upcoming launch of its WASDPro eGaming and eSports streaming service www.wasdpro.tv.Â
WASDPro is a purpose built eGaming/eSports video streaming service
built on the Peeks Social Platform. The Company’s goal for WASDPro is to
capture and monetize a significant share of this growing market which
currently produces 355bn minutes of eSports and gaming streams watched
in 2017 — a 22% year over year increase compared to 2016. WASDPro will
be based off of the Peeks Social Platform, which is a robust ecommerce
enabled, video streaming platform that provides broadcasters and content
creators with a wide variety of proprietary content monetization
services. Content creators can make money by charging their viewers
monthly subscription fees (Subscription Service), by receiving donations
from viewers (Tipping Service) and by charging viewers for access to
content (Paywall Service. In addition, the Peeks Social Platform
provides a proprietary AdShare Service. The AdShare service allows all
content creators to make money by selecting sponsored ads that run on
their video content. The AdShare network dynamically matches sponsors
with content creators and allows the content creators to select their
desired sponsors. The company shares its cost per impression-based
advertising revenues with the content creator; thereby allowing content
creators an effortless way to make free money.
The company believes that the unique features of the WASDPro service
will provide eGamers and their fans, with one of the most satisfying
eGaming streaming experiences in the industry today. According to
Goldman Sachs 3.5 billion people are online today and nearly 2.2 billion
are active video gamers. Video Gaming today is a US$180bn industry
projecting to grow at a 5% compounded annual growth rate. By 2022, the
relatively new eSports segment of the industry is projected to reach an
audience of 276,000,000 people similar in size to the National Football
League (NFL). Currently 50 colleges have varsity eSports teams and
discussions have been held for inclusion of eSports in the 2024 Paris
Olympics. Goldman Sachs has identified the opportunity for
live-streaming to monetize the growth of eSports in a way that few other
businesses can.
“We are extremely excited to add the WASDPro service to the Peeks
Social family of services. Our goal is to make WASDPro an industry
leading eGaming and eSports destination for: content creators, fans and
advertisers alike. We have been, and will continue to, work with content
creators, affiliates and other partners to ensure that WASDPro reaches
the global audience it deserves.†states Mark Itwaru, CEO and Chairman
of Peeks Social.
The WASDPro beta site will be available May 2019.
The Peeks Social app can be downloaded in either the Apple or Google app stores, or by visiting www.peeks.social. WASDPro is available at www.wasdpro.tv
Mark Itwaru Chairman & Chief Executive Officer 416-639-5339 [email protected]
David Vinokurov Director Investor Relations 416-716-9281 [email protected]
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) has reviewed or accepts responsibility for the adequacy or
accuracy of this Release
Posted by AGORACOM-JC
at 9:00 PM on Monday, April 15th, 2019
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HIVE Berlin: Jens Hilgers, Peter Warman Discuss Trends in Esports
Warman spoke about gatekeeping in the industry and the challenges of breaking in, and estimated that between himself and Hilgers, they have collectively taken more than 1,000 calls over the years from people who want to get into esports
At the HIVE esports business
conference in Berlin this week, influential minds from across the
industry gathered to discuss the future of esports. Before the
wide-ranging panels began, Jens Hilgers and Peter Warman took the stage
to explore some of the trends they’ve seen and expect to see in the
future.
Both are long-standing fixtures of the esports industry. Hilgers has spent more than two decades in esports, co-founding Turtle Entertainment and ESL
in 2000 and serving as its CEO until 2010, when he transitioned to the
role of chairman of the board until 2015. He has also co-founded G2 Esports and tools maker DOJO Madness , and is a founding partner in BITKRAFT Esports Ventures . Warman, meanwhile, is the CEO and founder of gaming and esports analytics firm Newzoo , which was established in 2007.
“Every single time that something like that has happened in history, it was the most important and most exciting times for me.â€
Warman spoke about gatekeeping in the
industry and the challenges of breaking in, and estimated that between
himself and Hilgers, they have collectively taken more than 1,000 calls
over the years from people who want to get into esports—whether it’s
startups, brands, media, or financial services. Carefully explaining the
industry to people who are outside of it is critical, although both
said that detailing the subject to government representatives is a less
enjoyable situation.
“You sometimes have to explain what
the hell is going on,†said Warman. Added Hilgers: “I try to avoid those
meetings… those are the most frustrating ones.â€
Many more people in recent years have
seen the boom around esports, said Warman, between the excitement
building around the industry and the money flowing into it. But
newcomers who think that esports is a completely new thing need to be
educated that it’s actually a long-running, gradually-maturing industry,
he said.
“We have to explain to people: this
esports thing—it’s been around for a long time,†said Warman. “It’s not
this ‘hockey stick’ expectation, new industry thing, but a very healthy
and growing business.â€
Amidst all of the excitement and
investment around the space, however, Warman and Hilgers both said that
people in the space need to manage expectations for incoming
stakeholders, in part to help avoid the possibility of a bubble. Warman
added that part of managing expectations is making it clear that the
rise of esports is not a standalone thing—that the underlying growth is
tied into the popularity gaming and other industries and technologies.
It’s also a matter of new generations growing up with gaming, esports,
and digital devices.
“You sometimes have to explain what the hell is going on.â€
“What I’ve been observing for the
last 23 years in my career,†said Hilgers, “is that when we see the
growth year-over-year in esports, it’s mostly driven by digital natives
growing up with video games and the paradigm of esports.â€
Looking back on his career to date,
Hilgers pointed to key games that have defined or redefined genres and
helped boost esports at that time. He noted the impact of Counter-Strike , World of Warcraft , and League of Legends in the past, and more recently Fortnite ,
as each raised the bar for its respective genre and the level of
competition and interest around it. If that kind of trend continues,
then Hilgers said that we could see another paradigm-shifting
competitive game in two to four years’ time that might draw even larger
numbers of players and viewers.
“Every single time that something
like that has happened in history, it was the most important and most
exciting times for me,†said Hilgers, “because these new, genre-defining
games truly elevated competitive multiplayer gaming and esports.â€
Warman pointed to the exponential
growth of both gaming and esports over the years compared to other types
of popular media. He said that the wider gaming industry’s evolving
focus on engaging fans, making them happy, and providing them free tools
before
expecting any kind of payment is helping to drive that. That’s seen
both with free-to-play games and freely-streamed esports tournaments and
related content.
“What makes us very special in games is we put time first before money,†he said. “That’s the secret sauce of our business.â€
“I think there’s going to be a generation of games going forward that
actually will start the design process by reflecting these assumptions
in the right way.â€
But there’s a fine line to walk, he
continued, as some people have more time than money, while others have
plenty of money and are willing to spend it within games. Creators in
both the game development and esports sides of the games industry need
to balance the accessibility on one end with premium features and
services on the other. “We are entertaining people who don’t want to
spend money or don’t have money, but have a lot of time,†said Warman.
“And people that have a shitload of money, and they will all spend it in
our game. One single environment has to serve both. Think about it:
that’s very, very hard.â€
Hilgers spoke about the impact of Fortnite
and how its success has come in part from breaking the mold of the
battle royale genre. It’s a competitive game, yes, but the colorful
experience is also more accessible and targeted at a less die-hard
audience. Games like Apex Legends, Call of Duty , and Overwatch have more of a hardcore fan base, he said, while some Fortnite players simply want to play casually and hang out with friends in the game. It has wide-ranging appeal.
When it comes to the next wave of
esports games, however, he said that developers need to consider the
viewing experience as much as the gameplay and moment-to-moment action.
“Having a game that is equally great to spectate and to watch as it is
to play the game will ultimately make for the best esports games,†said
Hilgers. He doesn’t believe that most games in the market now were built
with that kind of mentality, but that developers are learning lessons
from today’s games and their challenges, and that the next generation of
esports-ready titles will be better poised to deliver on both fronts.
“I think there’s going to be a
generation of games going forward that actually will start the design
process by reflecting these assumptions in the right way,†he said, “and
that will lead to a greater entertainment offering and elevate
esports.â€
Posted by AGORACOM-JC
at 2:23 PM on Monday, April 15th, 2019
Investment Highlights
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Kenbridge Ni Project (ON, Canada)
Advanced stage deposit remains open in three directions, is
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Preliminary Economic Assessment completed and updated returned robust project economics and operating costs including a NPV of C$253M and cash costs of US$3.47/lb of nickel net of copper credits.
Plans for Kenbridge include updating PEA,
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Posted by AGORACOM-JC
at 11:23 AM on Monday, April 15th, 2019
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Bithumb’s parent company receives $200 million investment from Japan’s ST Blockchain Fund
Bithumb’s parent company, Blockchain Exchange Alliance [BXA], received a massive $200 million in funding during its Series A round.
This huge sum was offered by Japan’s ST Blockchain Fund, reported Coin Telegraph.
Though based in Japan, ST Blockchain Fund interests investors from around the world, including Europe and the United States.
BXA is raising funds to take Bithumb to the international level. Bithumb, already one of the largest exchanges in South Korea, will expand in international markets with new trading pairs.
BXA’s press release read,
“The fund shared our vision of creating a global digital exchange
platform that can efficiently transfer value across borders with lower
costs, which was the key rationale behind this investment decision.â€
The news of massive funding comes in after Bithumb lost around $13
million in March following a hack. According to reports, this was
considered to be an inside job, done to deceive the company. However, in
the third-party public audit, Bithumb reassured investors that their
funds were in a secure storage.
Bithumb was also hacked in 2018, losing around $30 million. However,
the figure was later corrected to $17 million. The investment by ST will
be a much-needed impetus to Bithumb, an exchange that has been reeling
under major losses. It has been reported that the South Korean exchange
reported losses over $180 million since the price of Bitcoin dropped,
while it also had to lay off half of its staff last month.
The timing of the investment also falls in line with the rising
prices of cryptocurrencies, especially since Bitcoin has finally
breached the $5K mark.
Posted by AGORACOM-JC
at 9:11 AM on Monday, April 15th, 2019
Entered into a non-binding letter of intent dated April 12, 2019, to acquire a 25% ownership interest in five Mountain Mellow Alberta locations
Mountain Mellow management is in their final stage of AGLC approval, has secured two prime retail locations in the Province of Alberta and is in the process of securing a minimum of three more.
VANCOUVER, British Columbia, April 15, 2019 — BOUGAINVILLE VENTURES INC. (“Bougainville” or the “Company”) (CSE:BOG) is pleased to announce that it has entered into a non-binding letter of intent (the “LOI”) dated April 12, 2019, to acquire a 25% ownership interest in five (5) Mountain Mellow Alberta locations in exchange for cash and common shares of Bougainville Ventures, Inc.
Mountain Mellow management is in their final stage of AGLC approval,
has secured two (2) prime retail locations in the Province of Alberta
and is in the process of securing a minimum of three (3) more. Mountain
Mellow locations may be leased and/or owned and will have continuous
daily traffic of no less than 5,000 drive by vehicles per day.
Andy Jagpal, President of Bougainville says, “Bougainville has gained
a tremendous opportunity with Mountain Mellow to become the Premier
Cannabis retailer in Alberta. Mountain Mellow and Bougainville Ventures
are committed to providing the perfect consumer retail experience and
Mountain Mellow will add to the Bougainville strategy in its retail
expansion.â€
Pursuant to the terms of the LOI, the Company will acquire 25% of the
issued and outstanding common shares in the capital of Mountain Mellow
in exchange for Two hundred and Fifty Thousand ($250,000.00) Canadian
dollars plus Seven Hundred and Fifty thousand ($750,000.00) in common
shares share’s at a deemed share value as set at close of market on the
fifteenth (15) day after the opening of each AGLC approved and occupancy
permitted location, for an aggregate consideration of $5,000,000.
Bougainville has also secured the right of first refusal for any
additional locations garnered by Mountain Mellow management, terms of
which are to be determined in the Definitive Agreement.
The completion of the Definitive Agreement is limited to the
following; (i) the negotiation and execution of a definitive agreement,
(ii) completion of a satisfactory due diligence by Bougainville and
Mountain Mellow; and (iii) receipt of all required regulatory,
corporate, permits, Canadian Securities Exchange requirements and any
other conditions necessary to complete the transaction.
About Bougainville Ventures, Inc. Bougainville provides cannabis infrastructure and seed-to-sale services to I-502 tenant-growers leasing greenhouse facilities space and providing fully built-out, turnkey solutions and ancillary services including processing, cannabis expertise and marketing and sales resources. Greenhouse canopies provide a 50% saving in cultivation cost. Bougainville has 10,000 sq.ft., in near production in Oroville, WA.Â
For further information, please contact Andy Jagpal at [email protected] or by phone at 1-888-395-6399
Tags: CSE, Hemp, Marijuana, stocks, tsx, tsx-v, weed Posted in Bougainville Ventures | Comments Off on Bougainville $BOG.ca to Acquire an Interest in Five Alberta Retail Locations #Marijuana #Cannabis $WEED.ca $CGC $ACB $APH $CRON.ca $HEXO.ca $TRST.ca $OGI.ca
Posted by AGORACOM-JC
at 8:11 AM on Monday, April 15th, 2019
Company Cites Other Positive Financial Developments Which Include
Decrease in SG&A Expenses and Significant Improvements on Balance
Sheet
Total revenues of hempSMART™ products were $252,135 for the year ended Dec. 31, 2018, as compared to $26,830 from the prior year, representing a significant 840% increase year over year.
Gross profit for 2018 increased to $170,885, a 68% gross margin, compared to a gross margin of $12,536 for 2017, a 47% gross margin
Escondido, California–(April 15, 2019) – MARIJUANA COMPANY OF AMERICA INC. (OTCQB: MCOA) (“MCOA” or the “Company”), a vertically integrated hemp and cannabis corporation, is pleased to announce its financial results for the year ended Dec. 31, 2018, as reported in its annual report on Form 10-K.
2018 Financial Highlights
Total revenues of hempSMART™ products were $252,135 for the year
ended Dec. 31, 2018, as compared to $26,830 from the prior year,
representing a significant 840% increase year over year.
Net loss from operations decreased by 82% from $21,262,798 for the year ended Dec. 31, 2017, to $3,814,949 from the prior year.
Gross profit for 2018 increased to $170,885, a 68% gross margin,
compared to a gross margin of $12,536 for 2017, a 47% gross margin.
SG&A expenses, including non-cash items and one-time
transactional expenses, for 2018 decreased substantially by $17,292,265,
or 81%, to $3,980,493, compared to $21,272,758 for the prior year.
For the year ended Dec. 31, 2018, the Company realized the following
other one-time income items: Gain cancellation of debt of $1,500,000
and a gain of $560,000 from the change in value of its trading
securities investment in Global Payout. The Company also settled a debt
that resulted in a gain of $94,933.
Total assets increased by 70% from $1,129,958 in 2017 to $1,919,781
in 2018. This increase is due primarily to the increase in value of the
Company’s investment in Global Payout’s stock, which is accounted for
using the trading security method of accounting as well as an increase
in cash and inventory.
Total liabilities decreased by 56% from $11,447,710 for 2017 to
$5,053,887 for 2018. This decrease was largely due to the decrease in
liabilities related to warrants and joint venture obligations.
Cash used by operating activities for 2018 was $2,385,349, compared
to cash used for operating activities of $895,743 for 2017. Cash used by
investing was $686,458, compared to $1,176,919 for 2017. Cash provided
by financing activities for 2018 was $3,181,553, compared to $2,175,007
for 2017.
“I could not be prouder of the growth and accomplishments our company
and team members achieved in 2018,” said Don Steinberg, founder,
chairman and CEO of Marijuana Company of America. “Our industry
experienced unprecedented legislative developments, including Canada
going full adult use and the Farm Bill passing in the U.S. We are now
better positioned than ever to be a leader in the cannabis industry. Not
only did we expand our team, but we also launched our hempSMART sales
in Europe. We expect to complete and announce our acquisition of a
California marijuana manufacturing and distribution license shortly.
Upon completion, this acquisition will allow us to capture additional
market share, implementing a fully integrated cannabis model that
includes cultivation of hemp, distribution and manufacturing of
cannabis, and the retail delivery of our new Viva Buds brand.”
Jesus Quintero, CFO of Marijuana Company of America, said, “We are
very pleased with the strong financial results of 2018. Our financial
results were better than many other cannabis public companies in our
sector, which are still in the development stage and not yet producing
revenue. Marijuana Company of America, through our hempSMART brand, has
experienced a dramatic increase in sales, most of which occurred in
fourth quarter. This trend is continuing to grow in first and second
quarter of 2019. We think our shareholders are going to be very
satisfied with the execution of our highly aggressive growth and
restructuring plans in 2019.”
Further details about the Company’s financial results are available
in its annual report on Form 10K, which will be available in the
investor relations section of the Company’s website at www.marijuanacompanyofamerica.com.
MCOA is a corporation that participates in: (1) product research and
development of legal hemp-based consumer products under the brand name
“hempSMART™” that target general health and well-being; (2) an affiliate
marketing program to promote and sell its legal hemp-based consumer
products containing CBD; (3) leasing of real property to separate
business entities engaged in the growth and sale of cannabis in those
states and jurisdictions where cannabis has been legalized and properly
regulated for medicinal and recreational use; and (4) the expansion of
its business into ancillary areas of the legalized cannabis and hemp
industry as the legalized markets and opportunities in this segment
mature and develop.
About Our hempSMART Products Containing CBD
The United States Food and Drug Administration (FDA) has not
recognized CBD as a safe and effective drug for any indication. Our
products containing CBD derived from industrial hemp are not marketed or
sold based upon claims that their use is safe and effective treatment
for any medical condition as drugs or dietary supplements subject to the
FDA’s jurisdiction.
Forward-Looking Statements
This news release contains “forward-looking statements” that are
not purely historical and may include any statements regarding beliefs,
plans, expectations or intentions regarding the future. Such
forward-looking statements include, among other things, the development,
costs and results of new business opportunities, and words such as
“anticipate,” “seek,” “intend,” “believe,” “estimate,” “expect,”
“project,” “plan,” or similar phrases may be deemed “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. Actual results could differ from those projected in
any forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with new
projects, the future U.S. and global economies, the impact of
competition, and the Company’s reliance on existing regulations
regarding the use and development of cannabis-based products. These
forward-looking statements are made as of the date of this news release,
and we assume no obligation to update the forward-looking statements,
or to update the reasons why actual results could differ from those
projected in the forward-looking statements. Although we believe that
any beliefs, plans, expectations and intentions contained in this press
release are reasonable, there can be no assurance that any such beliefs,
plans, expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should also
refer to the risk factors disclosure outlined in our annual report on
Form 10-12G, our quarterly reports on Form 10-Q and other periodic
reports filed from time to time with the Securities and Exchange
Commission. For more information, please visit www.sec.gov.
For more information, please visit the Company’s websites at:
