Day: December 14, 2020

Neovasc Receives Nasdaq Notification Regarding Minimum Bid Price Deficiency

VANCOUVER and MINNEAPOLIS, Dec. 14, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Neovasc Inc. (“Neovasc” or the “Company”) (Nasdaq, TSX: NVCN) announced today that it has received written notification (the “Notification Letter”) from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Rules for continued listing on the Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of US$1.00 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the closing bid price of the Company’s common shares for the 30 consecutive...

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Mudrick Capital Acquisition Corporation II Announces Closing of Underwriter’s Option to Purchase Additional Units in Connection with its Initial Public Offering

New York, New York, Dec. 14, 2020 (GLOBE NEWSWIRE) — Mudrick Capital Acquisition Corporation II (Nasdaq: MUDSU) (the “Company”) announced today that it closed the issuance of an additional 4,125,000 units pursuant to the exercise of the underwriter’s option in full to purchase additional units in connection with its initial public offering at $10.00 per unit, resulting in gross proceeds of $41,250,000 and bringing the total gross proceeds of the initial public offering to $316,250,000.The Company’s units are listed on the Nasdaq Capital Market (“Nasdaq”) and commenced trading under the ticker symbol “MUDSU” on December 8, 2020. Each unit consists of one share of the Company’s Class A common stock and one half of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at...

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Virco Reports Third Quarter Results

TORRANCE, Calif., Dec. 14, 2020 (GLOBE NEWSWIRE) — Virco Mfg. Corporation (NASDAQ: VIRC) today reported its financial results for the third fiscal quarter ended October 31, 2020.  Net sales and earnings continue to be negatively impacted by economic conditions driven by the COVID-19 pandemic.  Net sales for the third quarter were $56,741,000, a 15.3% decline from last year’s $66,998,000.  Through nine months, net sales were $133,625,000 versus $164,250,000 last year, a decline of 18.6%. Operating income for the third quarter declined by 8.5% compared to the prior year, although net income for the quarter improved 15.1% to $4,480,000 or $0.28 per diluted share from $3,892,000 or $0.25 per diluted share, reflecting the positive impact of operational expense controls and favorable tax benefits.Below are the condensed interim financial...

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WOW Unlimited Media Inc. Announces Closing of Second Tranche of Non-Brokered Private Placement of Unsecured Convertible Debentures

VANCOUVER, British Columbia, Dec. 14, 2020 (GLOBE NEWSWIRE) — WOW Unlimited Media Inc. (“WOW!” or the “Company”) (TSXV: WOW; OTCQX: WOWMF) is pleased to announce that it has closed the second tranche (the “Second Tranche Closing”) of its previously announced non-brokered private placement offering of unsecured subordinated convertible debentures (the “Debentures”) for gross proceeds of $2,061,000. On November 17, 2020 WOW! completed its first tranche ( the “First Tranche Closing”) of Debentures for gross proceeds of $2,639,000, for a total offering size of $4,700,000 (the “Offering”).Pursuant to the Second Tranche Closing, WOW! issued 2,061 Debentures at an issue price of $1,000 per $1,000 principal amount of Debentures.The Debentures were issued pursuant to the terms of a debenture indenture entered into between WOW! and Computershare...

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ZW Data Action Technologies Inc. Announces the Closing of $7.0 Million Registered Direct Offering

BEIJING, Dec. 14, 2020 (GLOBE NEWSWIRE) — ZW Data Action Technologies Inc.(NASDAQ:CNET) (“ZW Data” or the “Company”), an integrated online advertising, precision marketing and data analytics and other value-added services company, today announced the closing on December 14, 2020 of its previously announced registered direct offering of 4,320,989 shares of common stock and warrants to purchase up to 1,728,396 shares of common stock, at a purchase price of $1.62 per share and corresponding warrant. The warrants have a term of three years and are not be exercisable for the first six months from the date of issuance. The warrants have an exercise price of $2.03.The offering generated aggregate gross proceeds to the Company of approximately $7.0 million, before deducting fees to the placement agent and other estimated...

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CORRECTION – Prime Mining Corp.

VANCOUVER, British Columbia, Dec. 14, 2020 (GLOBE NEWSWIRE) — In a release issued earlier today by Prime Mining Corp. (the “Company”) (TSX.V: PRYM) (OTCQB: PRMNF) (Frankfurt: A2PRDW), please note multiple changes have been made throughout including but not limited to the period being identified as “Q2 2021” in the headline, rather than “Q2 2020” as originally issued. The corrected release follows:Prime Mining Reports Operating and Financial Results for Q2 2021Prime Mining Corp. (the “Company”) (TSX.V: PRYM) (OTCQB: PRMNF) (Frankfurt: A2PRDW) is pleased to report its operating and financial results for the second quarter of fiscal year 2021, ended October 31, 2020. Unless otherwise stated, all amounts are presented in Canadian dollars (“C$”).Prime Mining is focused on the development of the Los Reyes Gold-Silver Deposit in Sinaloa...

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Mesoblast Provides Topline Results From Phase 3 Trial of Rexlemestrocel-L for Advanced Chronic Heart Failure

NEW YORK, Dec. 14, 2020 (GLOBE NEWSWIRE) — Mesoblast Limited (Nasdaq:MESO; ASX:MSB), global leader in allogeneic cellular medicines for inflammatory diseases, today announced top-line results from the landmark DREAM-HF Phase 3 randomized controlled trial of its allogeneic cell therapy rexlemestrocel-L (REVASCOR®) in 537 patients with advanced chronic heart failure1.Over a mean 30 months of follow-up, patients with advanced chronic heart failure who received a single endomyocardial treatment with rexlemestrocel-L on top of maximal therapies had 60% reduction in incidence of heart attacks or strokes and 60% reduction in death from cardiac causes when treated at an earlier stage in the progressive disease process. Despite significant reduction in the pre-specified endpoint of cardiac death, there was no reduction in recurrent non-fatal...

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2020 estimated total dividend of $0.944, Firm Capital Mortgage Investment Corporation announces estimated special and regular dividend for December amounting to $0.086 per share

TORONTO, Dec. 14, 2020 (GLOBE NEWSWIRE) — Firm Capital Mortgage Investment Corporation (the “Corporation”) (TSX: FC) announces that its board of directors has declared its monthly cash dividend for December on its outstanding common shares of $0.078 per share. The Corporation also announces an estimated special year-end cash dividend (the “Special Dividend”) on its outstanding common shares of $0.008 per share. These cash dividends, totaling an estimated $0.086 per common share, are payable on January 15, 2021, to holders of common shares of record at the close of business on December 31, 2020.The precise amount of the Special Dividend will be confirmed prior to the payment date. The Special Dividend recognizes that the (estimated) annual income generated in 2020 is expected to exceed the regular monthly dividends paid...

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UAES and ROHM Hold Opening Ceremony for a Joint Laboratory on SiC Technology

Kyoto, Japan and Santa Clara, CA, Dec. 14, 2020 (GLOBE NEWSWIRE) — ROHM, together with Chinese Tier 1 comprehensive automotive manufacturer United Automotive Electronic Systems Co., Ltd. (UAES), recently held an opening ceremony announcing the establishment of a joint laboratory on SiC technology at UAES headquarters in Shanghai, China.SiC power devices are being increasingly adopted in the fields of electric vehicles, infrastructure, environment / energy, and industrial equipment. This is due, in large part, to the advantages they provide over silicon-based power devices such as IGBTs, including significantly reduced loss during both switching and conduction, along with support for higher temperature operation.Since 2015, UAES and ROHM have been collaborating and carrying out detailed technical exchanges on automotive applications...

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Primoris Services Corporation to Acquire Future Infrastructure Holdings, LLC to Establish Leading Platform in Telecommunication Services

DALLAS, Dec. 14, 2020 (GLOBE NEWSWIRE) — Primoris Services Corporation (NASDAQ Global Select: PRIM), (“Primoris” or the “Company”), a leading provider of specialty contracting services in North America, today announced that it has entered into a definitive merger agreement to acquire Future Infrastructure Holdings, LLC (“Future Infrastructure” or “FIH”) from Tower Arch Capital LLC (“Tower Arch”) and other interest holders in an all cash transaction valued at $620 million.Future Infrastructure is a leading provider of non-discretionary maintenance, repair, upgrade and installation services to the telecommunication, regulated gas utility and infrastructure end markets. For the last 12 months ended September 30, 2020, FIH generated total revenue of $342 million, total adjusted earnings before income tax, depreciation and amortization...

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