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Day: November 20, 2020

Timber Pharmaceuticals Signs Waiver Agreement with Warrant Holders

WOODCLIFF LAKE, NJ, Nov. 20, 2020 (GLOBE NEWSWIRE) — NewMediaWire — Timber Pharmaceuticals, Inc. (“Timber” or the “Company”) (NYSE American: TMBR), a biopharmaceutical company focused on the development and commercialization of treatments for rare and orphan dermatologic diseases, today announced that it has signed waiver agreements with certain of its existing institutional investors. Effective as of November 19, 2020 (the “Effective Date”), Timber entered into waiver agreements (the “Waiver Agreements”) with each of the holders of its series A and series B warrants in which all the parties agreed to waive certain rights and amend certain provisions of the warrants and associated securities purchase agreement.Pursuant to the Waiver Agreements, the holders agreed to (i) waive certain provisions in the warrants...

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Dundee Precious Metals Reports Fatality at the Tsumeb Smelter in Namibia

TORONTO, Nov. 20, 2020 (GLOBE NEWSWIRE) — Dundee Precious Metals Inc. (TSX: DPM) (“DPM” or “the Company”) is deeply saddened to report a fatality at its Tsumeb smelter in Namibia. On Thursday, November 19, an employee sustained serious injuries while conducting maintenance activities in the waste processing plant. The Company immediately dispatched first responders and emergency services personnel; however, despite best efforts, the employee tragically succumbed to his injuries.“It is with a heavy heart that I am reporting this tragic loss. Our immediate focus is on the welfare of our employee’s family, as well as on our employees who have been impacted by this incident,” said David Rae, President and CEO. “The safety and well-being of our employees is our highest priority. This tragedy is a devastating reminder of the critical...

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SRHI Inc. Completes Customary Documentation Required under JRA

(all amounts expressed in US dollars)TORONTO, Nov. 20, 2020 (GLOBE NEWSWIRE) — (TSX: SRHI, SRHI.WT) – SRHI Inc. (the “Company” or “SRHI”) is pleased to announce that the Company and Minera Tres Valles SpA (“MTV”) have completed the customary documentation and formalization of terms under the Judicial Reorganization Agreement (“JRA”) between MTV, MTV’s senior lenders (“Lenders”) and the Company.MTV is the Company’s 70% owned producing copper mine in Salamanca, Chile.A summary of the financial commitments arising from the JRA (and as disclosed in prior press releases) is as follows:SRHI to Provide $10 Million to MTV by June 2021Up to $10 million secured second ranking debt to be financed from the Company’s cash resources (the “SRHI New Loan”)To be drawn down by MTV by June 2021Principal and interest subordinated to the senior...

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LEGACY ACQUISITION CORP. ANNOUNCES WARRANT AMENDMENTS

New York, NY, Nov. 20, 2020 (GLOBE NEWSWIRE) — Legacy Acquisition Corp. (NYSE: “LGC”) (“Legacy”), a publicly-traded Special Purpose Acquisition Company, announced today that, in connection with the previously announced business combination (the “Business Combination”) between Legacy and Onyx Enterprises Int’l, Corp. (“Onyx”), pursuant to the Business Combination Agreement (the “Business Combination Agreement”), dated September 18, 2020, by and among Legacy, Excel Merger Sub I, Inc., Excel Merger Sub II, LLC, Onyx and Shareholder Representative Services LLC, Legacy and its warrant agent, Continental Stock Transfer & Trust Company, a New York corporation (the “Warrant Agent”) entered into Amendment No. 1 to the Warrant Agreement, dated as of November 16, 2017 (“Warrant Amendment”).The Warrant Amendment provides that, subject to...

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LEGACY ACQUISITION CORP. ANNOUNCES FINAL RESULTS OF CASH TENDER OFFER FOR ITS CLASS A COMMON STOCK

New York, NY, Nov. 20, 2020 (GLOBE NEWSWIRE) — Legacy Acquisition Corp. (NYSE: “LGC”) (“Legacy”), a publicly-traded Special Purpose Acquisition Company, announced today the final results of its previously announced tender offer to purchase up to all 6,122,699 issued and outstanding shares of Class A common stock, par value $0.0001 per share (the “Class A Common Stock”), that were initially issued as part of units in Legacy’s initial public offering (such shares of Class A Common Stock, the “Public Shares”), at a purchase price of $10.5040 per Public Share, net to the seller in cash, without interest (the “Tender Offer”). The Tender Offer was made in connection with the previously announced business combination (the “Business Combination”) with Onyx Enterprises Int’l, Corp., a New Jersey corporation (“Onyx”), pursuant to the Business...

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HC2 Stockholders Approve Rights Offering Proposals

NEW YORK, Nov. 20, 2020 (GLOBE NEWSWIRE) — HC2 Holdings, Inc. (“HC2” or the “Company”) (NYSE:HCHC), a diversified holding company, announced today that, based on preliminary results, its stockholders have voted to approve (i) an amendment to the Company’s certificate of incorporation to increase the number of authorized shares of common stock of the Company to 160,000,000 shares and (ii) the conversion of up to 35,000 shares of Series B preferred stock of the Company in connection with the Company’s current $65 million rights offering (the “Rights Offering”). More than 94% of the votes cast supported both proposals.“We are very pleased that our stockholders resoundingly supported our Board and our strategy of long-term value creation for all HC2 stockholders,” stated Wayne Barr, Jr., HC2’s interim Chief Executive Officer. “On behalf...

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IEC Announces Fiscal 2020 Fourth Quarter and Year End Results

REVENUE OF $46.4 MILLION IN THE QUARTER; UP 5.7% YEAR OVER YEARGROSS MARGIN OF 14.5% IN THE QUARTERGENERATED $7.3 MILLION OF OPERATING CASH FLOW IN THE QUARTERNEWARK, N.Y., Nov. 20, 2020 (GLOBE NEWSWIRE) — IEC Electronics Corp. (Nasdaq: IEC) today announced results for the fiscal 2020 fourth quarter and year ended September 30, 2020 (“fiscal 2020”).IEC reported revenues of $46.4 million for the fourth quarter of fiscal 2020, an increase of 5.7% as compared to revenues of $43.9 million for the fourth quarter of the year ended September 30, 2019 (“fiscal 2019”). Gross profit for the fourth quarter of fiscal 2020 was $6.7 million, or 14.5% of sales, compared to gross profit of $6.4 million, or 14.6% of sales in the fourth quarter of fiscal 2019. Selling and administrative expenses were $3.8 million in the fourth quarter of fiscal 2020,...

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Gulf & Pacific Equities Corp. reports on Third Quarter Results with Revenue of $899,642

TORONTO, Nov. 20, 2020 (GLOBE NEWSWIRE) — Gulf & Pacific Equities Corp. (TSX-V: GUF) an established company focused on the acquisition, management and development of anchored shopping centres in Western Canada, reports a 18.5% decrease in revenues to $899,642 in the third quarter of 2020 from $1,103,183 at same period last year.Details of the nine and three months financial results for fiscal 2020 and 2019 under International Financial Reporting Standards (IFRS) as summarized below are also available at www.sedar.com or at the company’s website www.gpequities.com.About Gulf & Pacific Equities Corp.Gulf & Pacific Equities Corp. was incorporated under the laws of the Province of Alberta on April 8, 1998 and thereafter completed a public offering of common shares by prospectus dated June 26, 1998 (TSX-V: GUF). The Company acquires,...

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Immunotherapy Pioneer Prof. Carl H. June Joins AC Immune’s Board of Directors

Prof. June is a world authority on immune tolerance and adoptive immunotherapyAppointment reaffirms AC Immune’s scientific leadership in neurodegenerationLAUSANNE, Switzerland, Nov. 20, 2020 (GLOBE NEWSWIRE) — AC Immune SA (NASDAQ: ACIU), a Swiss-based, clinical-stage biopharmaceutical company with a broad pipeline focused on neurodegenerative diseases, today announced that Prof. Carl H. June, a world authority on mechanisms related to immune tolerance and adoptive immunotherapy in the fields of chronic inflammation and cancer, was elected to the Company’s Board of Directors, at an extraordinary shareholders’ meeting today.Prof. June is a true pioneer in the field of immunotherapy most well-known for his research into T cell therapies for the treatment of cancer, who, in 2020, was elected to the American Philosophical Society. His...

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