Highlights:
OAKLAND, CA and TORONTO, Nov. 18, 2020 /CNW/ – Harborside Inc. (“Harborside” or the “Company”) (CSE: HBOR) (OCTQX: HBORF), a California-focused, vertically integrated cannabis enterprise, today reported its financial results for the period ending September 30, 2020 (“Q3 2020”). The Q3 2020 financial report and corresponding management’s discussion and analysis (collectively the “Q3 Filings”) are available for download from the Company’s investor website,investharborside.com, and on the Company’sSEDAR profile. Unless otherwise indicated, all dollar amounts in this press release are in U.S. dollars.
Management Commentary
“We’ve implemented strong operational improvements that have continued our progress towards long term profitability and sustained growth. Harborside continues to be one of the leaders in the Northern California market,” said Peter Bilodeau, Chairman, and interim Chief Executive Officer. “As our production capacity is expected to ramp up in early 2021, following the completion of the planned upgrades at our Salinas greenhouse facility, we expect to be well-positioned to accelerate our growth and continue to gain wholesale market share. I’m thrilled with how far Harborside has come this year and look forward to further growth in 2021.”(2)
Q3 2020 Financial Results and Highlights (2)(3)
| Q3 2020 | Q2 2020 | Q1 2020 | Q4 2019 | |
| Retail Revenues | $10,681,897 | $10,940,143 | $10,181,471 | $9,511,221 |
| Wholesale Revenues(a) | $8,890,723 | $5,208,439 | $4,456,775 | $2,185,701 |
| Total Gross Revenues(a) | $19,572,620 | $16,148,582 | $14,638,246 | $11,696,922 |
| Retail Gross Profit(e) | $5,353,429 | $5,601,565 | $5,219,890 | $4,903,947 |
| Wholesale Gross Profit(a)(e) | $5,360,764 | $2,435,952 | $787,964 | -$1,373,186 |
| Total Gross Profit(a)(e) | $10,714,193 | $8,037,517 | $6,007,854 | $3,530,761 |
| Retail Gross Margin(b)(e) | 50.10% | 51.20% | 51.30% | 51.60% |
| Wholesale Gross Margin(a)(e) | 60.30% | 46.80% | 17.70% | -62.80% |
| Total Gross Margin(e) | 54.70% | 49.80% | 41.00% | 30.20% |
| G&A/Professional Fees(c)(d) | $6,783,987 | $6,764,781 | $5,786,573 | $7,621,971 |
| Adjusted EBITDA(e) | $4,473,046 | $642,025 | $431,562 | -$2,796,178 |
| NOTES: |
| a. Not including excise taxes or biological asset adjustments. |
| b. Retail gross margin in Q1 2020 and Q2 2020 are slightly affected by additional expenditures on personal protective equipment and other safety measures due to the COVID-19 pandemic. Retail gross margin in Q2 2020 and Q3 2020 include additional pay for the Company’s front line workers and expenses relating to the impacts of the civil unrest in the Bay Area to certain of the Company’s retail stores. |
| c. Professional Fees for the fourth quarter of 2019 include approximately $953,000 in one-time fees and accruals for legal matters |
| d. Professional Fees for Q2 2020 and Q3 2020 include approximately $977,000 and $1,115,000, respectively, in one-time costs relating to the audits and restatements of certain of the Company’s previous financial statements. |
| e. This is a non-IFRS reporting measure. For a reconciliation of this to the nearest IFRS measure, see “Use of Non-IFRS Measures” and “Non-IFRS Measures” in the Company’s management discussion and analysis for September 30, 2020. |
Q3 2020 Financial Summary
During Q3 2020, Harborside generated total gross revenues of approximately $19.6 million. This represented 21.2% sequential growth over the second quarter of 2020 (“Q2 2020”) and a 42.9% year-over-year increase when compared to the approximately $13.7 million of gross revenues reported in the period ending September 30, 2019 (“Q3 2019”). Combined gross profit before excise taxes and adjustments for biological assets was approximately $10.7 million, an 85.8% year-over-year increase as compared to the $5.8 million reported in Q3 2019. On a year over year basis, combined gross margins increased from 42.1% in Q3 2019 to 54.7% in Q3 2020(1).
Harborside’s wholesale operations reported gross wholesale revenues of approximately $8.9 million, representing 70.7% sequential growth compared to Q2 2020 and a year-over-year increase of 169.4% as compared to the approximately $3.3 million in gross revenues reported for Q3 2019. The year-over-year increase in gross wholesale revenues was primarily due to improved harvest yields and production of premium flower, higher sales volumes, and higher average prices per pound at the Company’s 47-acre integrated production campus in Salinas, California (the “Salinas Facility”). As compared to gross wholesale revenues, wholesale gross margins increased from -22.1% in Q3 2019 to 60.3% in Q3 2020(1).
The Company’s retail operations generated revenues of approximately $10.7 million, a 2.8% increase as compared to the approximately $10.4 million realized in Q3 2019, with gross margins improving from 48.5% to 50.1% on a year-over-year basis, despite increased costs for safety and staffing related to COVID-19 and inventory losses experienced during the civil unrest that occurred in the Bay Area.(1) The year-over-year increase in retail revenue was driven primarily by the Company’s enhanced merchandising and pricing initiatives which resulted in, amongst other things, improved product mix, selected pricing changes and higher sell-through of internally produced products. Across Harborside’s retail stores in California, the Company’s branded products represented from 9 to 14 of the 25 top-selling SKUs in Q3 2020.
Total operating expenses for Q3 2020 were approximately $7.8 million, including $1.15 million in one-time costs related to the audit and restatement of prior year financials. This was a 7.5% year-over-year decrease when compared to approximately $8.5 million of costs incurred in Q3 2019. The year-over-year decrease in operating expenses is primarily related to a decrease in general and administrative expenses of $1.1 million to $4.1 million as compared to $5.2 million in Q3 2019, a decrease in allowance for credit losses of $0.3 million, and a decrease in write-downs of receivables, investments and advances of $1.3 million, as no impairments were recorded on any of the Company’s investments in Q3 2020.
During Q3 2020, the Company also recorded an income tax provision of $1.8 million, compared to $1.3 million in Q3 2019, based on estimated federal income taxes payable at period-end.
Operating Income for Q3 2020 was approximately $0.8 million, compared to an operating loss of approximately $3.6 million for Q3 2019. Net loss and comprehensive loss was $2.4 million, compared to a net loss and comprehensive loss of $1.9 million in Q3 2019, a 24.2% decrease on a year-over-year basis. The year over year decrease was due primarily to additional income tax provisions and related interest expense booked during Q3 2020.
Adjusted EBITDA(1) for Q3 2020 was approximately $4.5 million, compared to a negative EBITDA(1) of approximately $0.9 million for Q3 2019, with the year over year increase being driven largely by improved operating efficiencies and headcount reductions across the Company. See “Non-IFRS Financial Measures, Reconciliation, and Discussion.”
Q4 2020 and Full Year Expectations (2)(4)
The Company expects Q4 2020 gross revenues to follow a more historically typical seasonal pattern, with lower flower production and wholesale revenues, resulting in total combined gross revenues of $11 million to $12.5 million for the fourth quarter, with EBITDA(1) for the quarter close to breakeven. For the full year ended December 31, 2020, the Company expects gross revenues in the range of approximately $61 – $63 million, with Adjusted EBITDA(1) for the year in the range of 8 – 10% of revenues.
Liquidity and Cash Balance (2)(3)
As of September 30, 2020, Harborside had approximately $13.3 million in cash. The increase in cash balance since the second quarter of 2020 included a delay in payment of approximately $1.6 million of sales taxes that were due to the state of California. Payment of these taxes was postponed by the state as part of their COVID-19 business relief program and, in accordance with state guidelines, the funds were ultimately remitted at the end of October 2020.
Recent Operational Highlights
Wholesale Operations: Harborside recently announced planned cultivation facility upgrades at the Salinas Facility. The planned upgrades include, among other things, the installation of blackout curtains and supplemental LED grow lights at the Salinas Facility. Following the successful completion of these upgrades, the Company expects an approximately 50% increase in production, an expected approximately 10% increase in bulk wholesale revenue capacity, and an approximately 7% increase in the total productive capacity, on an annualized basis(2)(4). The upgrades are expected to be completed within the first quarter of 2021(2).
In furtherance of its brand strategies, Harborside announced that two of its award-winning in-house brands, Harborside Farms and Key, introduced new product offerings for the market. Key has added ‘Key Mini Pre-Rolls’, a pack of seven 0.5g strain specific pre-rolls, to its product suite. These mini pre-rolls use flower that is sustainably grown in Harborside’s state of the art greenhouses using proprietary techniques. Key also recently offered a new seasonal SKU, ‘Limited Edition Skeleton Key Mini Pre-Rolls’, a nighttime blend of G4 OG and Gelato 33 packed in seven 0.5g mini pre-rolls. Harborside Farms has also added ‘Harborside Farms Quarter Ounces’, which offers strain-specific and single-origin flower from Harborside Farms. The Company also recently commenced sales of clones grown at its Salinas Facility at all Harborside branded retail locations, including Desert Hot Springs.
Capital Markets: During Q3 2020, the Company commenced trading on the OTCQX under the ticker symbol of “HBORF” and, subsequent to the quarter end, Harborside received depository trade clearance (DTC) eligibility.
Acquisitions: Subsequent to Q3 2020, Harborside announced it had executed a definitive agreement with FGW Haight, Inc. (“FGW”) to acquire majority ownership FGW, which holds a dispensary license in the historic Haight-Ashbury District of San Francisco, where the Company expects to start operations in the second quarter of 2021(2).
Secured Indemnity
On November 17, 2020, the Company and its subsidiaries entered into a guaranty and security agreement to guarantee and secure the obligations of the Company to defend and to indemnify its directors and officers (collectively, the “Secured Indemnity“). The Secured Indemnity is intended to supplement coverage available under existing directors and officers insurance maintained by the Company in order to mitigate concerns about claims and potential claims against directors and officers and whether the available insurance applies to and will satisfy in full such claims and potential claims. The scale and complexity of the Company’s operations in a highly regulated sector requires that the directors and officers managing those operations be committed to the performance of their duties without undue or inappropriate distractions. In management’s view, concerns about claims and potential claims and adequacy of insurance may detract from the performance of the directors and officers involved in the Company’s operations or lead to their resignations, which would disrupt the Company’s business. The Board has therefore determined that it is in the best interests of the Company and its subsidiaries to enter into the Secured Indemnity in order to induce the directors and officers to perform their duties to the Company, provide comfort to the directors and officers involved in the Company’s operations and to encourage their ongoing services.
The Secured Indemnity constitutes a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101“). The Company is relying on the exemptions from the valuation and the minority approval requirements of MI 61-101 provided for in subsections 5.5(a) and 5.5 (b) and subsection 5.7(a) of MI 61-101, respectively, as the Company’s shares are not listed on specified markets and neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Secured Indemnity, in relation to the interested parties, will represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101.
For the latest news, activities, and media coverage, please visit the Harborside corporate website athttp://www.investharborside.com or connect with us onLinkedIn,Facebook, andTwitter.
About Harborside:
Harborside Inc., a vertically integrated enterprise with cannabis licenses covering retail, distribution, cultivation, nursery, and manufacturing, is one of the oldest and most respected cannabis companies in the world. Founded in California in 2006, Harborside was awarded one of the first six medical cannabis licenses granted in the United States. Today, the company operates three major dispensaries in the San Francisco Bay Area, a dispensary in the Palm Springs area outfitted with Southern California’s only cannabis drive-thru window, a dispensary in Oregon and an integrated cultivation/production facility in Salinas, California. Harborside continues to play an instrumental role in making cannabis safe and accessible to a broad and diverse community of California and Oregon consumers. Harborside is currently a publicly listed company, trading on the CSE under the ticker symbol “HBOR” and the OTCQX under the ticker symbol “HBORF”. Additional information regarding Harborside is available under Harborside’s SEDAR profile atwww.sedar.com.
Safe Space Technology™
TORONTO, ON / November 18, 2020 / Kontrol Energy Corp. (CSE:KNR)(OTCQB:KNRLF)(FSE:1K8) (“Kontrol” or “Company“) is pleased to provide an update on its BioCloud technology development.
“Our team continues to execute on the vision to create and bring to market a safe space technology,” says Paul Ghezzi, CEO of Kontrol.
Distribution Agreements
The Company intends to sell BioCloud directly to various potential customers. At the same time the Company is pursuing both exclusive and non-exclusive distribution channels for BioCloud sales. Kontrol is pleased to announce it has entered into two non-exclusive BioCloud distribution agreements. The distribution agreements cover Ontario and Saskatchewan.
The Company has also entered into discussions with various parties for potential industry exclusive distribution agreements which would require minimum unit quantity orders.
New Website
Kontrol has launched a new website for BioCloud. For more information please visit www.kontrolbiocloud.com.
Name Change
Kontrol Energy Corp. is in the process of changing its name to Kontrol Technologies Inc. The name change is anticipated to take place by the end of December 2020.
Cash on Hand
As of November 17, 2020, the Company has $3.8 Million of cash on hand.
About Kontrol BioCloud
BioCloud is a real-time analyzer designed to detect airborne viruses. It has been designed to operate as a safe space technology by sampling the air quality over time. With a proprietary detection chamber that can be replaced as needed, viruses are detected, and an alert system is created in the Cloud or over local intranet. BioCloud has been designed for spaces where individuals gather including classrooms, retirement homes, hospitals, mass transportation and others
BioCloud is not a medical device and the Company is not making any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus).
About Kontrol Energy
Kontrol Energy Corp. (CSE:KNR)(OTCQB: KNRLF)(FSE: 1K8) is a leader in the energy efficiency sector through IoT, Cloud and SaaS technology. With a disciplined mergers and acquisition strategy, combined with organic growth, Kontrol Energy Corp. provides market-based energy solutions to our customers designed to reduce their overall cost of energy while providing a corresponding reduction in greenhouse gas (GHG) emissions.
Kontrol Energy is one of Canada’s fastest growing companies in 2018 and 2019 as ranked by Canadian Business and Maclean’s.
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Additional information about Kontrol Energy Corp. can be found on its website at www.kontrolenergy.com and by reviewing its profile on SEDAR at www.sedar.com.
For further information, contact:
Paul Ghezzi, Chief Executive Officer
[email protected] or [email protected]
Kontrol Energy Corp.,
180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8
Tel: 905.766.0400, Toll free: 1.844.566.8123
Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.
Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated.
However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all, that technologies will not prove as effective as expected, that customers and potential customers will not be as accepting of the Company’s product and service offering as expected, and government and regulatory factors impacting the energy conservation industry. In particular, successful development and commercialization of the Kontrol BioCloud Analyzer are subject to the risk that the Kontrol BioCloud Analyzer may not prove to be successful in detecting the virus that causes COVID-19 effectively or at all, uncertainty of timing or availability of any regulatory approvals and Kontrol’s lack of track record in developing products for medical applications.
Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.
SOURCE: Kontrol Energy Corp.
VANCOUVER, British Columbia, Nov. 18, 2020 — Loop Insights Inc. (MTRX:TSXV) (RACMF:OTCQB) (the “Company” or “Loop”), a provider of contactless solutions and artificial intelligence (“AI”) to drive real-time insights, enhanced customer engagement and automated venue tracing to the brick and mortar space, is pleased to announce the Company has been selected to join the Impact Radius Marketplace (“Impact”), providing Loop with the opportunity to connect with and leverage marketing opportunities with Impact global brand partners such as Fanatics, Uber, Nike, Adidas, Airbnb, Levi’s and many more.
IMPACT RADIUS IS THE GLOBAL LEADER IN PARTNERSHIP AUTOMATION MANAGING OVER $50 BILLION IN E-COMMERCE SALES
Impact is the global leader in Partnership Automation and catalyst for the new Partnership Economy. Impact accelerates enterprise growth by automating the full partnership lifecycle for enterprise partnerships, with its Partnership Cloud™ managing over $50B in e-commerce sales and processing over $2B per year in payments to partners.
As a result of its enterprise focus, Impact follows a rigorous selection process. In evaluating and eventually selecting Loop, Impact assessed both the opportunity Loop could provide brand partners with millions of potential users, as well as, the data Loop could provide to brands and the ability to deliver real-time activations to sports fans both at venues and at home.
Loop Insights CEO Rob Anson stated : “Selection into the Impact Radius marketplace is another strong vote of confidence for Loop as we continue to grow our client base. The Impact Radius marketplace will provide Loop with access to leading brands from around the world who will be discovering our anticipated massive venue audiences, AI analytics, real-time engagement, and verified reviews for the very first time. We look forward to providing these brands with never before seen opportunities to create new revenue streams with Loop.”
PAVING THE LAST MILE TO THE CUSTOMER IS THE NEXT STAGE OF ENTERPRISE GROWTH
A commissioned study conducted by Forrester Consulting in 2020 on behalf of Impact Radius determined that companies with well-developed partnership programs grow faster and outperform their low-maturity peers on a number of key business metrics.
Specifically, clients of Impact are generating up to 25% of total enterprise revenue through partnerships, with partnership revenue as a channel growing by 50% or more year over year.
“With over 75% of world trade flowing indirectly, Forrester believes the third stage of enterprise growth will revolve around paving the last mile to the customer through partners and alliances.” (Jay McBain, Forrester, Principal Analyst Global Channels)
LOOP POSITIONED TO DRIVE AFFILIATE MARKETING OPPORTUNITIES, NEW REVENUE STREAMS THROUGH RETAIL INSIGHTS AND ENGAGEMENT PLATFORM
Through its AI-driven retail analytics and insights platform, Loop Insights is positioning itself to become a significant player in the e-commerce and affiliate marketing space. Placement in the Impact Radius marketplace will allow Loop to generate revenue through global brand affiliate marketing programs delivered directly to consumers through the Company’s Wallet pass technology.
By enabling direct-to-consumer (DTC) brand affiliate relationships, Loop will provide brands with new targeted marketing opportunities through AI-driven analytics and insights. The Company expects to generate high conversion rates for brands through its retail insights platform, which will drive brand engagement, clicks, and sales while also generating revenue for Loop, which receives up to 10% per retail transaction.
As announced in a press release dated November 12, 2020, Loop Insights’ Uklipz platform will allow the Company to provide additional marketing opportunities to Impact Radius clients through verified video reviews created by consumers. The reviews can then be purchased or analyzed by brands and retailers to drive further engagement and sales.
The Company is exceptionally confident our complete solution from DTC access to AI analytics to verified reviews will provide Impact global brand customers with a compelling new channel.
LOOP SELECTION TO IMPACT MARKETPLACE DELIVERS SIGNIFICANT VALUE TO CURRENT AND PROSPECTIVE CLIENTS
Moreover, Loop’s inclusion in the Impact Radius marketplace will deliver significant value to our own clients through optimized marketing opportunities. By gaining access to the Impact Radius marketplace, Loop will advance revenue-generating opportunities for both the Company and its expanding list of clients. Loop’s retail engagement platform offers direct 1:1 marketing opportunities to brands, providing both Loop and its client base with additional revenue streams at each purchase point.
Loop is set to showcase its affiliate marketing integration with its Engage service during the NCAA #BeachBubble in Fort Myers, Florida. Attendees using their All Access Wallet Pass for venue tracing will also receive personalized discounts and promotions tailored to the event. This will combine the safety and security of end-to-end rapid testing and notifications with enhanced personalized user engagement demonstrating Loop’s full solution stack during a live event.
According to TrueList, more than 80% of brands offer affiliate marketing programs today, with Affiliate Marketing responsible for 16% of global e-commerce sales.
According to Statista, affiliate marketing just in the USA is expected to generate almost $USD 9 Billion by 2022.
This press release is available on the Loop Insights Verified Forum on AGORACOM for shareholder discussion, questions and engagement with management https://agoracom.com/ir/LoopInsights
About Impact Radius
Impact is the global leader in Partnership Automation and catalyst for the new Partnership Economy. Impact accelerates enterprise growth by automating the full partnership lifecycle, including discovery, recruitment, contracting, engagement, fraud protection, optimization, and payment processing for enterprise partnerships. Impact’s Partnership Cloud™ manages over $50B in e-commerce sales and processes over $2B per year in payments to partners. Impact drives revenue growth for global enterprise brands such as Bass Pro Shops, Fanatics, Getty Images, Lenovo, Levi’s, Techstyle, and Ticketmaster. Founded in Santa Barbara, CA in 2008, Impact has grown to over 500 employees worldwide.
About Loop Insights
Loop Insights Inc. is a Vancouver-based Internet of Things (“IoT”) technology company that delivers transformative artificial intelligence (“AI”) automated marketing, contact tracing, and contactless solutions to the brick and mortar space. Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement. Its ability to integrate seamlessly into existing infrastructure, and customize campaigns according to each vertical, creates a highly scalable solution for its prospective global clients that span industries. Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia. Loop’s products and services are backed by Amazon’s Partner Network.
| For more information, please contact: | |
| Loop Insights Inc. | LOOP Website : www.loopinsights.ai |
| Rob Anson , CEO | Facebook: @LoopInsights |
| T : +1 877-754-5336 Ext. 4 | Twitter: @LoopInsights |
| E : [email protected] | LinkedIn: @LoopInsights |
Forward-Looking Statements/Information:
This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Loop’s control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Loop believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, Loop does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of Loop should be considered highly speculative. There can be no assurance that Loop will be able to achieve all or any of its proposed objectives.
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.
Kontrol Energy is the Google NEST of smart building technology, with a Blue Chip client base to prove it with the likes of Beyond Meat, Toyota, Oxford, Telus and Brookfield to name a few.
As a result, Kontrol is already achieving commercial success as follows:
TOTAL Q1 AND Q2
ADAPTING CORE TECH TO PROVIDE BLUE CHIP CUSTOMERS WITH REAL-TIME AIR DETECTION OF COVID-19 IN COMMERCIAL BUILDINGS
As a result of the COVID-19 pandemic and the needs of its blue chip customer base, Kontrol is adapting its core technologies team to development and commercialize its Kontrol BioCloud® analyzer, a wall-mounted technology which detects the presence of COVID-19 in the air of commercial buildings and triggers an alert system to provide real time notifications.
GEARING UP PRODUCTION FOR UP TO 20,000 UNITS PER MONTH
Initial expectations, based on lab testing completed to date, is that BioCloud will be effective in small to medium space settings with 3 or more people, and therefore would be suitable for areas such as classrooms, offices, airplanes, trains, buses, long-term care facilities and hospitals. The company is currently building a global supply chain with the goal of being able to supply 20,000 units per month.
The implications of the Kontrol BioCloud® analyzer could be enormous and could have a major impact on the global economy. Paul Ghezzi, CEO of Kontrol Energy has received calls from interested parties spanning the entire globe. In addition, mainstream media has taken notice:
Early tests suggest new Canadian technology could detect the coronavirus in the air Read More
Canadian firm develops tech to ‘detect COVID-19 in the air’; stock doubles Read More.
Kontrol Energy’s BioCloud Featured By Singapore’s IBI Times Read More
CSA APPROVAL RECEIVED ON NOVEMBER 5TH
On Novebmer 5th, KNR announced receipt of CSA standards approval for its BioCloud® technology.
“This is another important milestone for Kontrol and represents the continuing advancement of the BioCloud® technology,” says Paul Ghezzi, CEO Kontrol. “CSA is a Canadian standard for safety and is also accepted in jurisdictions outside Canada. In addition to CSA we continue to work on other important regional certifications including UL and CE for the United States and European markets respectively.”
UL STANDARDS APPROVAL RECEIVED NOVEMBER 12TH
“We continue to execute on the important milestones for commercialization of BioCloud,” says Paul Ghezzi, CEO of Kontrol. “With CSA and UL we now have standards approval that covers Canada, the United States and various other global regions. We continue to work towards CE standards certification which is primarily for the European market.”
DISCLAIMER: The Company has not made any express or implied claims that its product has the ability to eliminate, cure or contain the COVID-19 (or SARS-2 Coronavirus).
For more information about the company, please check out the Kontrol Energy hub on AGORACOM.
FULL DISCLOSURE: Kontrol Energy is an advertising client of AGORA Internet Relations Corp.
Toronto, Ontario–(Newsfile Corp. – November 17, 2020) – Red Light Holland Corp. (CSE: TRIP) (FSE: 4YX) (“Red Light Holland” or the “Company“) is pleased to announce that via its Scarlette Lillie Science and Innovation division, it has engaged RadixMotion Inc. (“RadixMotion“), an immersive technology company based in the State of Delaware, to design and develop a digital care program for people exploring microdosing. The program will accompany customers from the first time they encounter iMicrodose products in Smartshops via the iMicrodose Media Information Centre (“iMIC“) with an educational interactive augmented reality app. The core of the digital care program is a privacy first iMicrodose Journal, a web app where people can anonymously document their microdosing and receive data driven analytics that will help them make informed choices around their usage. The app will use Radix Motion’s expertise in biometric human pose data to give people feedback on whether microdosing has measurable effects on reducing their physiological tension or influences other features of their body posture. People using the digital care program will be able to opt in to share their anonymous data with the wider community allowing for substantial advancements in research.
“As access to psychedelics grows we want to provide people with the support they need to make the most out of microdosing via digital health mechanisms, which now includes our iMicrodose digital care program,” said Todd Shapiro, the Chief Executive Officer and Director of the Company. “While other companies in the sector are focused on clinical trials which take years to prove out, this approach of Scarlette Lillie, our science and innovation division, can have immediate benefits. We want to be a part of understanding psilocybin usage now as the mental health crisis is rampant. Gatekeepers can be limiting. We believe in working with informed consumers who are willingly sharing their data.”
‘Digital Health’ is defined as the convergence of digital technologies with health, healthcare, living, and society to enhance the efficiency of healthcare delivery and make it more personalized and precise. Scarlette Lillie is pleased to continue their partnership with Sarah Hashkes, CEO of RadixMotion – who published the first academic paper using the Predictive Coding frameworks to explain what psychedelics do to brains – to create a personalized iMicrodose Journal, a web-based app where people will be able to document their psilocybin use and they will be able to opt in to share their anonymous important data with the community which can then potentially be shared with scientific and medical experts. Microdosing research is at its infancy and this data has huge potential to increase Scarlette Lillie’s understanding rapidly.
“We are excited that our expertise in neuroscience and immersive technology is giving people tools to understand themselves and promoting responsible use of psychedelics. Red Light Holland’s and Scarlette Lillie’s care for their customers is a beacon of hope in the emerging psychedelic market. The consent based approach this program is taking around customers’ data and communicating with customers, we believe, is revolutionary and we hope many companies will follow this example. We are also excited about the AR aspect where customers can receive inspirational messages based on the latest research on wellness when they aim the app at iMicrodose products,” said Sarah Hashkes, CEO of RadixMotion and Scarlette Lillie’s Scientific Advisor. “But where it gets really exciting, as a scientific researcher in psychedelics, is if people do trust us and opt in to share their anonymous data with the community we will have a data set that can take microdosing research to a whole new level. The journal will immediately provide people with analytics about their microdosing so they can find what works best for them, but in the long run, Scarlette Lillie can hopefully use this data, including the unique biometric human pose data, to potentially find out what works best for people all over the world.”
Scarlette Lillie Science and Innovation estimates the total cost for the iMicrodose Digital Care Program, including Augmented Reality for the in-store iMic centres and the iMicrodose web-app Journal to be approximately USD$85,000. The completion of the Augmented Reality for the in-store iMIC remains on pace, expected to be launched before the end of 2020 and the iMicrodose web-app Journal is expected to be completed by RadixMotion and available by the end of Q1 2021.
About Red Light Holland Corp.
The Company is an Ontario-based corporation positioning itself to engage in the production, growth and sale (through existing Smart Shops operators and an advanced e-commerce platform) of a premium brand of magic truffles to the legal market within the Netherlands, in accordance with the highest standards, in compliance with all applicable laws.
For additional information on the Company:
Todd Shapiro
Chief Executive Officer & Director
Tel: 647-204-7129
Email: [email protected]
Website: https://redlighttruffles.com/
Vancouver, B.C., Nov. 17, 2020 (GLOBE NEWSWIRE) — Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) is focused on the exploration and development of flake graphite in Quebec for the new green economy. Lomiko is pleased to announce the Board of Directors has formed a Technical, Safety, and Sustainability Committee (“LTSSC”), reporting to the Board of Directors. At the time of formation, the LTSCC is comprised of A. Paul Gill, CEO, and two Independent Directors, Gabriel Erdelyi and Julius Galik.
LTSSC Committee Responsibilities
The LTSSC will oversee the assessment of the La Loutre Flake Graphite Property, and liaise with service providers, technical staff and stakeholders to put forward a series of crucial technical documents including, but not limited to, a Scope of Work (SOW), Graphite Characterization and Metallurgy, Response for Proposal (RFP) on a Preliminary Economic Assessment, and, if required, pre-feasibility, bulk samples, pilot plant, feasibility and construction plans. The Committee will govern the hiring of technical staff, liaise with extra-company agencies and representatives, and provide a conduit to the Board of Directors to make crucial decisions on the project.
Further additions to the Committee and the Lomiko team are anticipated and will be announced when confirmed.
Lomiko’s Near Term Goals
Graphite demand is expected to increase exponentially for the mined natural graphite material, as more is used in the production of spherical graphite for graphite in the anode portion of Electric Vehicle Lithium-ion batteries.
Lomiko completed a $ 750,000 financing October 23, 2020 and plans to work on its near-term goals:
1) Complete 100% Acquisition of the Property, currently 80% owned by Lomiko Metals.
2) Complete metallurgy and graphite characterization to confirm li-ion anode grade material.
3) Complete a Technical Report to confirm that the extent of the mineralization equals or surpasses the nearby Imerys Mine, owned by an international mining conglomerate.
A “technical report” means a report prepared and filed in accordance with this Instrument and Form 43-101F1 Technical Report, and includes, in summary form, all material scientific and technical information in respect of the subject property as of the effective date of the technical report;
4) Complete Preliminary Economic Assessment (PEA)
A PEA means a study, other than a pre-feasibility or feasibility study, that includes an economic analysis of the potential viability of mineral resources.
For more information on Lomiko Metals, Promethieus, review the website at www.lomiko.com, and www.promethieus.com, contact A. Paul Gill at 604-729-5312 or email: [email protected].
On Behalf of the Board
“A. Paul Gill”
Director, Chief Executive Officer
VANCOUVER, BC , Nov. 17, 2020 ELSE NUTRITION HOLDINGS INC. (TSXV: BABY) (OTCQB: BABYF) (FSE: 0YL) (“Else” or the “Company”) the plant-based baby, toddler and children nutrition company , is pleased to announce that as part of its mission to ensure its novel, plant-based toddler nutrition products will be accessible to health conscious families across North America , that it has now commenced shipping its Plant-Based Complete Nutrition for Toddlers to retail stores across the U.S.. The Company and its distribution partner, KeHE Distributors, has thus far activated five distribution centers in various regions across the U.S. This distribution will enable Else’s first product to very quickly be on the shelves of numerous U.S. retail stores, including a soon-to-be announced, national major grocery chain.
“We are so pleased that Else will be available to consumers on their favourite store shelves in advance of the Christmas holiday,” said Mrs. Hamutal Yitzhak , CEO and Co-Founder of Else. “We are making strong headway now, adding brick and mortar as a core sales vertical, to be complemented by our already-growing e-commerce and Amazon business verticals. We continue to extend our appreciation to KeHE Distributors for its early support of our brand, and anticipate early success and aggressive listings in 2021, as we develop our core retail accounts,” she added.
KeHE Distributors has nearly 70 years of experience servicing store owners and today has a network of over 16 distribution centers across North America . KeHE is one of the largest and most well regarded national fresh, natural and organic and specialty food distributors in North America . Else Nutrition’s agreement with KeHE Distributors secures a retail distribution path of Else’s ground-breaking plant-based toddler nutrition products to thousands of store shelves in the United States , and millions of consumers seeking plant-based alternatives for their children.
About Else Nutrition Holdings Inc.
Else Nutrition GH Ltd. is an Israel -based food and nutrition company focused on developing innovative, clean and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy, formula is a clean-ingredient alternative to dairy-based formula. Else Nutrition (formerly INDI) won the “2017 Best Health and Diet Solutions” award at the Global Food Innovation Summit in Milan . The holding company, Else Nutrition Holdings Inc., is a publicly traded company, listed as TSX Venture Exchange under the trading symbol BABY and is quoted on the US OTC Markets QX board under the trading symbol BABYF and on the Frankfurt Exchange under the symbol 0YL. Else’s Executives includes leaders hailing from leading infant nutrition companies. Many of Else advisory board members had past executive roles in companies such as Mead Johnson, Abbott Nutrition, Plum Organics and leading infant nutrition Societies, and some of them currently serve in different roles in leading medical centers and academic institutes such as Boston Children’s Hospital, Pediatrics at Harvard Medical School , USA , Tel Aviv University , Schneider Children’s Medical Center of Israel , Rambam Medical Center and Technion, Israel and University Hospital Brussels, Belgium .
For more information, visit: elsenutrition.com or @elsenutrition on Facebook and Instagram.
TSX Venture Exchange
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.
Caution Regarding Forward-Looking Statements
This press release contains statements that may constitute “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as “will” or similar expressions. Forward-looking statements in this press release include statements with respect to the anticipated dates for filing the Company’s financial disclosure documents. Such forward-looking statements reflect current estimates, beliefs and assumptions, which are based on management’s perception of current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. No assurance can be given that the foregoing will prove to be correct. Forward-looking statements made in this press release assume, among others, the expectation that there will be no interruptions or supply chain failures as a result of COVID 19 and that the manufacturing, broker and supply logistic agreement with the Company do not terminate. Actual results may differ from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which reflect management’s expectations only as of the date of this press release. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SPONSOR: Arctic Star Exploration is currently exploiting the Diagras Diamond Property, NWT. Adjoined by both Diavik and Ekati Mines, Arctic has combined known data on Diagras with modern Gravity and EM geophysical survey techniques to delineate viable Kimberlite targets. Arctic Star is currently preparing a drill program. CLICK HERE FOR MORE INFO
Another week, another huge diamond discovered in Botswana. But “huge” might do this stone a disservice, as it’s actually one of the five largest ever unearthed.
Canadian miner Lucara Diamond Corp has just announced the recovery of a 998-carat high white diamond at its Karowe mine in the southern African nation. The diamond is clivage, meaning it will have to be broken down before it can be processed into polished stones.
Lucara found the massive stone—which measures 2.6 inches x 1.9 inches x 1.8 inches—from direct milling of ore sourced from the south lobe of the mine, according to a press release. It’s just the latest noteworthy diamond discovery at the mine this year. Just in 2020 alone, Karowe has produced 31 diamonds greater than 100 carats, of which 10 are greater than 200 carats and two are greater than 500 carats. The other 500-plus carat stone is a 549-carat diamond named Sethynya that Lucara recently sold to Louis Vuitton.
Even before these recent discoveries, Karowe already had a reputation of producing giant stones. In 2015, the company found a 1,109-carat Lesedi La Rona which sold for $53 million, and shortly after that a 813-carat Constellation stone that went for $63 million, according to Bloomberg. And last year, the Lucara found a 1,758-carat—the second biggest on the planet—which it also sold to Louis Vuitton in February of this year.
“Lucara is extremely pleased with the continued recovery of large high-quality diamonds from the South Lobe of the Karowe mine,” CEO Eira Thomas said in a statement. “To recover two 500-plus carat diamonds in 10 months along with the many other high-quality diamonds across all the size ranges is a testament to the unique aspect of the resource at Karowe and the mine’s ability to recover these large and rare diamonds.”
It remains to be seen what will happen to the diamond now. Lucara did not immediately respond to a request for comment from Robb Report, but did say in the press release that it is evaluating potential steps forward with its cutting and polishing partner, HB Antwerp.
SOURCE: https://www.yahoo.com/lifestyle/998-carat-diamond-fifth-largest-223000002.html
VANCOUVER, BC , Nov. 16, 2020 – Put on your driving gloves, top off the tank, and get ready to experience the utter joy of Rocket League. TGS Esports Inc. ( “TGS” or the ” Company” ) (TSXV: TGS) has teamed up with Crimson Wings to host the 3rd season of the Women’s Car Ball Championship, the world’s premier Rocket League tournament explicitly held for women.
“The WCBC is an amazing showcase of women’s esports talent, and we’re helping to make it bigger and more exciting than ever,” said Spiro Khouri , founder and CEO of TGS Esports. “This is going to be an exciting partnership – tons of action, tons of fun, and some of the best casters and hosts around.”
On November 12 , the WCBC officially announced Season 3 which will kick off December 12 . This season features a partnership with Rocket League developer Psyonix who is already showing support by sharing the news of Season 3 among their network.
The 2020 WCBC features divisions in Europe and North America , pitting teams of three in a round-robin style tournament starting in December. The total prize pool for this season is $10,000 . Jeff “Hunted” Lowe will host the event. Casters include Deep “RJsaurus” Nadar, Andrew “Squidd” Riffe , Layla “TamashiiKanjou” Abbott, and more.
“In its first year of existence, WCBC has given women a solid footing in the world of competitive rocket league, and some tier-one esports organizations use it to scout talent and plan for their future,” said Chase “Kilk” Mitchell , founder and CEO of Crimson Wings Entertainment. “This season, we’re better and stronger than ever, and we’re so excited.”
As part of the kick off for the upcoming 3 rd season TGS and Crimson Wings will be holding two open tournaments for any female Rocket League teams. November 28 th will be open to any teams in Europe while December 5 th will be for North American based teams. Both open events will have a cash prize. More info is available at www.thegamingstadium.com .
“Women are a large and often overlooked segment of the esports community,” Khouri said. “Hosting the WCBC allows us to continue to support these players and to introduce our brand to new competitors.”
For more information, please visit www.thegamingstadium.com or discord.gg/tgs .
Corporate Update
Further to its news release of November 2, 2020 , the Company has agreed to pay a finder’s fee to Jameel Bharmal in connection with the proposed acquisition of Pepper Esports Inc. by the Company (the ” Acquisition “), subject to the approval of the TSXV. The finder’s fee is payable by the issuance of 3,870,968 warrants to purchase common shares of TGS at a price of $0.155 for a period of two years following closing of the Acquisition.
About TGS Esports Inc.
TGS Esports Inc. is an organization focused on creating the ultimate esports experience. TGS is made up of industry professionals with 20+ combined years in the space of tournament organization, league facilitation, and production. This experience combined with the proposed acquisition of Pepper Esports Inc. ( https://www.newswire.ca/news-releases/tgs-esports-announces-signing-of-definitive-agreement-to-acquire-leading-competitive-esports-platform-pepper-esports-804515174.html ) allows TGS to offer a full suite of tools needed for any player or tournament organizer in esports. TGS is also the owner of Canada’s first dedicated esports arena, The Gaming Stadium, located in Richmond, British Columbia , which opened in June 2019.
Neither 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.
On behalf of the Board of Directors
” Spiro Khouri “
Spiro Khouri , CEO
TGS Esports Inc.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including with respect to: the hosting of the Women’s Car Ball Championship tournament; the timing, format and prizes for the tournament; and the proposed acquisition of Pepper Esports Inc. and the finder’s fee payable in connection therewith. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. The risks include the following: the unknown magnitude and duration of the effects of the COVID-19 pandemic and other risks that are customary to transactions of this nature. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.
This press release is not an offer of the securities for sale in the United States . The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
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SOURCE TGS Esports Inc