TORONTO and Knoxville, Tenn., Aug. 26, 2022 (GLOBE NEWSWIRE) — Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR, OTCQB: SAENF) announces it has filed its unaudited financial results for the three and six months ended June 30, 2022. The Company’s Financial Statements and related Management’s Discussion and Analysis are available under the Company’s profile at www.sedar.com.
“Solar Alliance remains on track for a record year in commercial solar,” said CEO Myke Clark. “The combination of revenue to date, the contracted backlog of projects that will be built before the end of the year and significant work-in-process support a record year for Solar Alliance as we focus on larger commercial and utility solar projects.”
“In addition to this growing backlog and revenue stream, we commenced construction on our two company-owned solar projects in New York. These projects will generate long-term recurring revenue once they are completed by the end of September,” continued Clark. “Our strong results are further supported by the recently passed climate legislation in the United States which is expected to drive long-term growth in the solar industry and contains several provisions that will directly benefit Solar Alliance and our customers.”
- Contracted project backlog exceeds $4,300,000. The projects in this backlog are expected to be built and recognized as revenue by the end of 2022.
- Revenue for the three months ended June 30, 2022, was $964,548 (Q2, 2021 – $1,420,885) as the company began constructing the large backlog of projects under contract.
- Expenses of $897,775 remained relatively stable (Q2, 2021 – $848,962) even as the Company increased backlog and construction activity.
- Net loss for the quarter of $208,254 (Q2, 2021 – $628,424).
- Accounts Receivable of $673,724 and Work in Process of $538,028 illustrate the increased rate of construction the Company is now experiencing as it constructs the $4,300,000 backlog of contracted projects.
- Addition of $353,174 to Company’s balance sheet representing the two New York solar projects which are now Solar Alliance owned assets. The amount represents the construction-in-progress at Q2, 2022 and will increase as construction is completed in Q3, 2022.
- Solar Alliance continued to successfully execute on its strategy to build, own and operate our own solar assets while also generating stable revenue through the sale and installation of solar projects to commercial and utility customers.
- 500-kilowatt, US$750,000 solar project – On May 9, 2022 the Company announced it has signed a contract to design and build a 500-kilowatt solar project for a commercial customer in Kentucky. The project, with a capital cost of US$750,000, will be powered by more than 1,000 Cat® solar modules and is expected to be completed by the end of 2022.
- Construction continued on several of Solar Alliance’s large projects, including the 500-kW project for Louisville Gas and Electric and Kentucky Utilities which commenced construction on March 14, 2022.
- Construction commenced on company-owned solar projects in New York. The two projects, which represent a combined 687-kW, are now under construction and are expected to being operating later this year. Once operational, the projects will provide recurring revenue under 30-year power purchase agreements with local municipalities. The two projects represent proof-of-concept for the Company’s asset ownership strategy and will form the basis for a growing portfolio of assets under ownership.
- Subsequent to Q2, on August 16, 2022 U.S. President Biden signed the Inflation Reduction Act (“IRA”), the largest climate bill in U.S. history. For Solar Alliance and the Company’s customers, the new legislation provides significant savings on solar systems through increased tax credits that can reach as high as 60% of a project’s capital costs. As a company that is 100% focused on the U.S. solar industry, Solar Alliance is well positioned to continue its growth in the commercial and utility solar sector supported by the IRA.
Here are the key objectives for the remainder of 2022:
- Development pipeline expansion. Solar Alliance is assessing opportunities to partner and/or acquire a larger pipeline of development-stage projects the Company may ultimately own and operate. The first two project acquisitions in New York State form a solid foundation for a more aggressive development and acquisition strategy.
- Construction of backlog. Despite global supply chain issues, the Company has secured the required materials for the contracted projects and anticipates converting all of the $4,300,000 in contracted backlog into revenue in 2022.
- Large solar system sales building backlog. The Company continues to target larger customers for third-party solar system sales and installation, similar to the 2.4 MW Bridgestone project and the 1 MW Knoxville utility project.
“Our key focus remains on executing our business plan and staying on track for what we see ahead as a record year in commercial solar growth. With the continued growth in the U.S. solar market and our growing market share in the U.S. Southeast, Solar Alliance remains a unique opportunity in the ESG investing space,” he added.
Myke Clark, CEO
For more information:
Myke Clark, CEO
About Solar Alliance Energy Inc. (www.solaralliance.com)
Solar Alliance is an energy solutions provider focused on residential, commercial and industrial solar installations. The Company operates in Tennessee, Kentucky, North/South Carolina and Illinois and has an expanding pipeline of solar projects. Since it was founded in 2003, the Company has developed $1 billion of renewable energy projects that provide enough electricity to power 150,000 homes. Our passion is improving life through ingenuity, simplicity and freedom of choice. Solar Alliance reduces or eliminates customers’ vulnerability to rising energy costs, offers an environmentally friendly source of electricity generation, and provides affordable, turnkey clean energy solutions.
Statements in this news release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, constitute Forward-looking statements. The words “would”, “will”, “expected” and “estimated” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the ability to raise sufficient capital, changes in economic conditions or financial markets, litigation, legislative or other judicial, regulatory and political competitive developments and technological or operational difficulties. Consequently, actual results may vary materially from those described in the forward-looking statements.
“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.”
Gold Terra Confirms High-Grade Intersection of 9.36 g/t Au Over 3 Metres in Winter Program of Mispickel Area, Yellowknife, NWT
VANCOUVER, BC / ACCESSWIRE / August 25, 2022 / Gold Terra Resource Corp. (TSXV:YGT); (Frankfurt:TX0); (OTCQX:YGTFF) (“Gold Terra” or the “Company”) today announced final assay results for all 19 drill holes totaling 6,011 metres drilled in the Mispickel area, including a higher-grade re-run assay for hole GTWL22-004 with reported visible gold (VG) and assays results for the remaining eleven (11) holes of the program. The 2022 drilling program has successfully extended gold mineralization in the Mispickel area with the addition of two new gold zones, MP-Ryan and Zone 14. Gold Terra plans to return to the area next winter with more drilling to infill and extend the three high grade zones identified to date. The Mispickel area, and multiple high grade zones are open in all directions.
Chairman and CEO, Gerald Panneton, commented, “The Mispickel area now has two additional new high-grade gold zones located north and west of the original main Mispickel area. The Mispickel area is strategically situated 20 kilometres north of Yellowknife and complements our flagship Con Mine Option Property where we are currently drilling at depth along the Campbell Shear south of the Con and on which an updated mineral resource estimate will be provided in September.”
Figure 1: Location map of Northbelt deposits and Mispickel MP-Ryan Zone
A summary of drill results for all 19 drill holes are shown in Table 1 below. New assay results are shown for holes GTWL22-001, 009 to 013 and 015 to 019. Previously released holes include GTWL22-002-008 and 014 with one new updated re-run assay for GTWL22-004.
Highlights include hole GTWL22-017 which intersected 5.17 g/t Au over 3 metres from 320-323 metres and an updated re-run assay result for hole GTWL22-004 which returned 9.36 g/t Au over 3 metres from 57-60 metres, including the sample containing the visible gold-bearing vein which graded 27.7 g/t Au over 1 metre.
Table 1 – Summary of Assay Intersections on Mispickel MP-Ryan Zone:
|Hole (*previously reported)||Comments||Intervals|
|GTWL22-001||low grades||Drilled on Drag Rust Zone 6km south of MP-Ryan along strike of possibly the same structure|
|GTWL22-002*||VG||20-24m: 19 g/t Au over 4m|
|GTWL22-003*||164-169m: 1.01 g/t Au over 5m
218-223m: 1.34 g/t Au over 5m
|GTWL22-004*||Sent for re-analysis
Best looking VG
|Updated new results:
57-60m: 9.36 g/t Au over 3m, including the sample containing the visible gold-bearing vein which graded 27.7 g/t Au over 1m
84.5-86m with 1.5m of 2.47 g/t Au and,
91.5-92.5m with 1m of 4.27 g/t Au
* Previously reported in the June 7, 2022 press release: 57-60m: 7.63 g/t Au over 3m, including the sample containing the visible gold-bearing vein which graded 22.5g/t Au over 1m
|GTWL22-005*||63-65m: 3.86 g/t Au over 2m|
|GTWL22-006*||183-184m: 2.11 g/t Au over 1m
259-260m: 2.46 g/t Au over 1m
|GTWL22-007*||New zone, VG||102-109m: 3.59 g/t Au over 7m including 8.02 g/t Au over 2m from 102-104m
147-151m: 1.65 g/t Au over 4m
310-311m: 1.90 g/t Au over 1m
|GTWL22-008*||78-84m grades 4.17g/t Au over 6 m, including 78-79m with 11.35g/t Au over 1 m and 83-84m with 11.8g/t Au over 1
0.74g/t Au over 9 m, including 1.75g/t Au over 3 m from 326-329m.
|GTWL22-009||71.5-74.5m: 1.25 g/t Au over 3 m
96-100m: 1.31 g/t Au over 4m
|GTWL22-010||Deep hole, shows weaker mineralization within the structure but still anomalous gold at depth||312-315m: 0.98 g/t Au over 3 m
464-470m: 0.63 g/t Au over 6 m
473-477m: 0.80 g/t Au over 4 m Including 0.33 g/t Au over 2 m
|GTWL22-011||255-262m: 0.39 g/t Au over 7 m|
|GTWL22-012||Widespread anomalous gold nearby large vein||237-262m: 0.59 g/t Au over 25m including 237-239m: 1.82 g/t Au over 2m; and 256-262m: 0.87 g/t Au over 6m|
|GTWL22-013||56-67m: 1.38 g/t Au over 11m including 2.01 g/t Au over 7m|
|GTWL22-014*||New High grade VG vein with pale colored gold||43-46m: 31.89g/t Au over 3m, including 69.4g/t Au over 1m|
|GTWL22-015||Large (3m) smokey quartz vein||92-94m: 0.98 g/t Au over 2m
99-107m: 0.89 g/t Au over 8m
220-223m: 0.77 g/t Au over 3m
|GTWL22-016||Good intersections||39-42m: 1.26 g/t Au over 3m within 11m of 0.65 g/t Au|
|GTWL22-017||Good intersection at 320-323m||51-53m: 1.29 g/t Au over 3m
158-161m: 1.06 g/t Au over 3m
320-323m: 5.17 g/t Au over 3m
|GTWL22-018||Encouraging veining and mineralization||88.9-95.1m: 1.66 g/t Au over 6.2m
278.75-279.25m: 2.48 g/t Au over 0.50m
|GTWL22-019||VG, evidence of zone at depth||179.5-183.5m: 4m of 2.88 g/t Au including 2.1m of 5.23 g/t Au from 181.5-183.6m|
The location of drill holes in the Mispickel MP-Ryan area are shown in the following Figure 2.
`Figure 2: Location of drill holes and high-grade zones in Mispickel area
The Mispickel area is a broad, steeply easterly dipping shear zone upwards of 200 metres wide. The host lithology of the Mispickel shear is interbedded argillite and siltstone for majority of the system (Footwall and Main Zone) and medium grained greywacke on the western end (Zone 14) and to the north.
Within this shear corridor, MP Ryan, Main, and Footwall zones contain smoky quartz veining with arsenopyrite, pyrite, pyrrhotite, ± sphalerite mineralization, in addition to visible gold mineralization. Quartz veins, which appear to be sub-vertical, range from sub-cm boudinaged veins to >1m smoky veins with coarse arsenopyrite mineralization. Alteration in the Main and Footwall zones is cryptic (e.i. thin bands of biotite and/or chlorite alteration) whereas the Hanging wall zone 14 contains sericite alteration surrounding mineralized veins. The zone 14 vein is 1.2 metres and different, consisting of white greyish quartz with visible gold. Only hole GTWL-22-14 intersected this new high-grade zone, and will required further drilling to evaluate its potential.
The purpose of this drill program was to expand the footprint of known mineralization. This involved drilling above and below known gold occurrences and drilling along-strike in the shear system. The program was successful at doing both: holes GTWL22-002 (20-24m: 19 g/t Au over 4m) and GTWL22-004 (57-60m: 9.36 g/t Au over 3m) expanded on known high-grade zones whereas holes GTWL22-007 (102-109m: 3.59 g/t Au over 7m) and GTWL22-014 (43-46m: 31.89 g/t Au over 3m) have intersected new zones along-strike to the north.
Of 19 holes drilled at Mispickel, 5 holes contained multi-meter zones of >25 gram-metre Au as shown in Table 2 below. Additionally, 11 holes intersected visible gold, signifying the endowment of this zone.
Table 2 – Greater than 25 gram-metre intervals at Mispickel :
|Hole ID||Interval||Grade||gram * meters|
|GTWL22-002||20-24m||19 g/t Au over 4m, incl. 73.9 g/t Au over 1m||76|
|GTWL22-004||57-60m||9.36 g/t Au over 3m, incl 27.7 g/t over 1m||28|
|GTWL22-007||102-109m||3.59 g/t Au over 7m, incl. 8.02 g/t au over 2m||25|
|GTWL22-008||78-84m||4.17 g/t Au over 7m, incl. 11.35 g/t Au over 1m and 11.8 g/t Au over 1m||25|
|GTWL22-014||43-46m||31.89 g/t Au over 3m, incl. 69.4 g/t Au over 1m||96|
Figure 3 below shows the Mispickel area trend with exploration targets to the north and south.
Figure 3: Additional Exploration Targets on the Mispickel trend
2022 Drill Program
The Company’s 2022 primary drilling program remains focused on testing the continuity of the mineralized zones within the Campbell shear south of the former Con Mine with the objective of adding high-grade ounces to the current 1.2 Moz inferred resources (see March 31, 2021 Technical Report). Following closure of the winter program, the company is continuing its drilling on the Campbell shear structure south of the former Con Mine which produced 6.1 Moz (1938-2003).
This news release reports new assay results from ten (10) drill holes totalling 3,402 metres from which 2623 core samples were assayed. Assays results range from non-detectable gold to a highest assay of 7.84g/t Au. The Company inserts certified standards and blanks into the sample stream as a check on laboratory Quality Control (QC). Drill core samples are cut by diamond saw at Gold Terra’s core facilities in Yellowknife. A halved core sample is left in the core box. The other half core is sampled and transported by GoldTerra personnel in securely sealed bags to ALS preparation laboratory (“ALS”) in Yellowknife. Samples prepared by ALS are shipped to ALS’s Vancouver facility for gold analysis. Gold assays of >3 g/t are re-assayed on a 30 g split by fire assay with gravimetric finish. Samples with visible gold are additionally assayed using a screen metallic method. ALS and is a certified and accredited laboratory service. ALS routinely inserts certified gold standards, blanks and pulp duplicates, and results of all QC samples are reported.
Drill holes were drilled at right angles to the structure hosting the mineralization and dip angles of holes were designed to intersect the zones as close to normal as possible. Zones reported here are interpreted to be approximately 90 percent true thickness.
The technical information contained in this news release has been reviewed and approved by Joseph Campbell, Chief Operating Officer, a Qualified Person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Gold Terra’s Yellowknife City Gold Project
The YCG project encompasses 800 sq. km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the six major high-grade gold camps in Canada. Being within 10 kilometres of the City of Yellowknife, the YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power, and skilled tradespeople. Gold Terra is currently focusing its drilling on the prolific Campbell shear, where 14 Moz of gold has been produced, and most recently on the Con Mine Option claims immediately south of the past producing Con Mine (1938-2003).
The YCG lies on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that host the former-producing high-grade Con and Giant gold mines. The Company’s exploration programs have successfully identified significant zones of gold mineralization and multiple targets that remain to be tested which reinforces the Company’s objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.
Visit our website at www.goldterracorp.com.
For more information, please contact:
Gerald Panneton, Chairman and CEO
Mara Strazdins, Manager of Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 ext 102
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.
Cautionary Note Regarding Forward-Looking Information
Certain statements made and information contained in this news release constitute “forward-looking information” within the meaning of applicable securities legislation (“forward-looking information“). Generally, this forward-looking information can, but not always, be identified by use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events, conditions or results “will”, “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotations thereof.
All statements other than statements of historical fact may be forward-looking information. Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. In particular, this news release contains forward-looking information regarding the current drilling on the Campbell Shear on the Newmont Con Mine Option potentially adding high grade ounces to the Company’s current YCG mineral resource, future planned drilling on the Con Mine Option area and the Company’s objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.
There can be no assurance that such statements will prove to be accurate, as the Company’s actual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in the “Risk Factors” section in the Company’s most recent MD&A and annual information form available under the Company’s profile at www.sedar.com.
Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof. Except as required under applicable securities legislation and regulations applicable to the Company, the Company does not intend, and does not assume any obligation, to update this forward-looking information.
The Power Play by The Market Herald Releases New Interviews with Trillion Energy and Nextech AR Solutions
VANCOUVER, BC / ACCESSWIRE / August 23, 2022 /The Power Play by The Market Herald has announced the release of new interviews with Trillion Energy and Nextech AR Solutions on their latest news.
The Power Play by The Market Herald provides investors with a quick snapshot of what they need to know about the company’s latest press release through exclusive insights and interviews with company executives.
Trillion Energy (CSE:TCF) announces drilling start date
Trillion Energy (TCF) has announced that the Uranus drilling rig is expected to arrive at the SASB natural gas field on August 29th. Final inspection and acceptance are anticipated on or about August 26th, then the rig will be hauled by marine ships to the SASB Gas field. CEO Arthur Halleran sat down with Daniella Atkinson to discuss the news.
For the full interview with Arthur Halleran and to learn more about Trillion Energy, click here
Nextech AR Solutions (CSE:NTAR) (OTCQB:NEXCF) reports record growth in 3D modelling
Nextech AR (NTAR) has reported its financial and operating results for the second quarter 2022 ending June 30, 2022. Highlights include 30 per cent Q2 sequential growth in ARR to almost $1,000,000. Nextech AR CEO Evan Gappelberg sat down with Daniella Atkinson to discuss the results.
For the full interview with Evan Gappelberg and to learn more about Nextech AR Solutions, click here
Interviews for The Power Play by The Market Herald are released daily. To learn more about the companies featured in The Power Play or to explore our other interviews visit The Power Play by The Market Herald.
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PharmaDrug Successfully Completes Key Milestone to Support cGMP Production of Clinical Lead Candidate PD-001, Its Patented, Orally Available Version of Cepharanthine for Oncology and Infectious Disease
- Completes qualification of all necessary analytical methodologies to support production of Cepharanthine-2HCL drug substance
- Clinical trial-scale production of cGMP Cepharanthine-2HCL drug substance scheduled for delivery in second half of September 2022
- Genvion Corporation formally engaged to conduct ICH-compliant stability, forced degradation and drug product manufacturing in support of IND filing and clinical requirements
Toronto, Ontario–(Newsfile Corp. – August 19, 2022) – PharmaDrug Inc. (CSE: PHRX) (OTCQB: LMLLF) (“PharmaDrug” or the “Company“), a specialty pharmaceutical company focused on the research, development and commercialization of psychedelics and other naturally-derived approved drugs, is pleased to announce that the Company has now completed the significant groundwork, including sourcing and characterization of bulk materials, preparation of reference standards and qualification of all necessary analytical methodologies to support multi-kilogram, cGMP production of cepharanthine-2HCL drug substance for use in the final drug product production of PD-001, its patented, orally bioavailable version of cepharanthine. Completion of this lot, slated for September 2022, significantly advances the Company’s efforts to support pre-clinical and clinical development, including to the commencement of potential Phase 2 clinical studies, for parallel indications in oncology and infectious disease. Consistent with these advancements, the Company has formally engaged Genvion Corporation to complete necessary ICH-compliant stability testing and forced degradation studies in support of future IND filings to the U.S. Food and Drug Administration (FDA). On behalf of the Company, Genvion Corporation will take receipt of the cGMP drug substance and complete all manufacturing efforts necessary to produce the orally bioavailable clinical drug product, PD-001.
Daniel Cohen, CEO and Chairman of PharmaDrug commented, “The sourcing and subsequent characterization of bulk materials, including generic cepharanthine, followed by the preparation of cGMP calibre analytical methodologies as required by the FDA represents the majority of the effort in this initial cGMP production initiative. With these activities now complete, we are positioned to initiate the cGMP manufacturing run of our lead candidate PD-001. Achieving this milestone represents an important inflection point in our preclinical and clinical development programs in oncology and infectious disease.”
Parallel Development Paths for Oncology and Infectious Disease Create Efficiency
Following submission of its Type B pre-IND meeting request and briefing package to the FDA, the Company received a written response regarding its clinical development plan for PD-001, as a potential oral antiviral pill for COVID-19 and variants of concern. PharmaDrug has executed on feedback, specifically as it related to necessary chemistry and manufacturing controls set forth by the regulator, to meaningfully advance its preclinical development programs for PD-001 as a potential treatment for infectious disease and oncology indications including prostate and esophageal cancers.
About PD-001 (Enteric-coated Oral Cepharanthine)
Cepharanthine is a natural product and an approved drug used for more than 70 years in Japan to successfully treat a variety of acute and chronic diseases. In clinical research, cepharanthine has been shown to exhibit multiple pharmacological properties including anti-oxidative, anti-inflammatory, immuno-regulatory, anti-cancer, anti-viral and anti-parasitic effects1,2. However, historically cepharanthine’s low oral bioavailability has represented a major obstacle to realizing its full clinical potential.
The Company is focused on advancing the clinical development of an improved and patented enteric-coated oral formulation of cepharanthine (PD-001) to treat responsive cancers and COVID-19. Compared to generic cepharanthine, PD-001 has been shown in rodent and non-rodent models to possess markedly improved oral bioavailability (more easily absorbed). These findings support the development of an orally administered formulation, and in so doing, removes the undesirable requirement for frequent intravenous dosing to maintain therapeutic levels of drug in circulation. The Company is endeavouring to develop an efficacious oral therapeutic to potentially improve outcomes for infectious disease and oncology applications.
Third-party Validated Studies Reveal Potential for Cepharanthine in Treating Cancer
PharmaDrug’s oncology program is based on cepharanthine’s known anti-cancer activities. Cepharanthine has been shown in over 160 peer-reviewed publications to inhibit cancer cell proliferation, induce cancer cell apoptosis (death) and restore cancer cell sensitivity to multiple unrelated classes of chemotherapy. Multidrug resistance continues to represent a considerable clinical challenge. As such, preclinical cancer studies aimed at elucidating the mechanisms that underly chemoresistance; including the critical role drug efflux pumps play in this phenomenon by reducing the intracellular concentration of chemotherapeutic drugs, are of particular interest to PharmaDrug. Cepharanthine has been shown in preclinical studies to potently reverse chemoresistance by downregulating expression of ABCB1, the transcript of which codes for multidrug resistance protein 1, (MDR1, aka P- glycoprotein). Importantly, several prior in vitro and in vivo studies have shown that cepharanthine-mediated reductions in ABCB1 expression restores cancer cell sensitivity to a range of chemotherapeutics including taxanes, vinca alkaloids and platinum-based drugs3–6.
PD-001 Demonstrates Benefit in IND-Enabling Prostate Cancer Study
A previous IND-enabling efficacy study commissioned by the Company demonstrated that a once-per-day oral regimen of PD-001, in combination with standard of care chemotherapy (SoC), cabazitaxel provided statistically significant benefit from day 10 through to the end of dosing (day 21). The degree of tumor growth inhibition improved for those groups receiving the combination of PD-001 and cabazitaxel versus cabazitaxel-alone, suggesting that PD-001 add-on therapy might provide clinically relevant adjunctive care options as an oral medication. Significantly, PD-001 delivered at doses of 3, 9, or 27 mg/kg/day combined with cabazitaxel (3mg/kg/Q3D) provided up to a 64% tumor growth inhibition compared to 37% noted for treatment with cabazitaxel alone. Addition of PD-001 to the SoC, cabazitaxel was found to improve tumor growth inhibition by 73% compared to cabazitaxel-alone. Study results were deemed to be highly statistically significant, with a p-value less than 0.001 (day 21). Importantly, the addition of PD-001 to cabazitaxel did not notably increase toxicity compared to cabazitaxel alone. Based on the data generated thus far, the Company has filed two recent provisional patent applications which support use of PD-001 plus cabazitaxel for primary, metastatic and chemotherapy-resistant prostate cancer. For reference to PharmaDrug’s ongoing efforts in the prostate cancer space please see previous press releases from April 19, March 9, Feb 1, 2022 and Nov 18, Oct 15, July 28, 2021.
PD-001 Demonstrates Benefit in IND-Enabling Esophageal Cancer Study
In addition to its ongoing investigations of PD-001 for prostate cancer, the Company plans to fully leverage the streamlined path to approval which comes by way of its granted FDA Orphan Drug Designation PD-001 for the treatment of esophageal cancer. The Company previously announced (June 16, 2022) that a once-per-day oral regimen of PD-001, in combination with a SoC chemotherapeutic drug, paclitaxel significantly reduced tumor volume and improved tumor inhibition at the scheduled end of dosing (day 28 post implantation) in its recently completed esophageal cancer efficacy study. Following 28 days of paclitaxel administration tumor volume was reduced by 53% compared to the untreated control group. Paclitaxel provided robust tumor growth inhibition in the early portion of the study, but during the second half, the rate of tumor growth tended to accelerate. This observation mirrors that which is often noted in the clinical treatment of esophageal cancer patients; with the development of chemoresistance often noted after a period of treatment. PD-001 delivered at a dose of 27 mg/kg/day combined with paclitaxel provided an improvement of 41% in tumor volume reduction beyond that of paclitaxel alone (day 28 post tumor implantation). This result was found to be statistically significant versus paclitaxel alone (p=0.0049). PD-001 (27 mg/kg/day) tended to provide tumor growth inhibition as early as day 17 post implantation (40% greater than paclitaxel alone), that peaked at day 20 (84% greater than paclitaxel alone). The Company has issued previous press releases related to the use of PD-001 for the treatment of esophageal cancer on Nov 18, Oct 15, July 28, 2021.
PD-001 For Infectious Disease, Including Covid-19
To date, several third party validated library screens of approved and investigational drugs have identified cepharanthine as a forerunner candidate molecule in the treatment SARS-CoV-2, the virus that causes COVID-197-9. In fact, cepharanthine has now been shown to be highly effective at blocking cell death following exposure to multiple different coronaviruses, including COVID-19, lab-attenuated SARS-CoV (original SARS) and the virus that causes Middle East respiratory syndrome (MERS)7-9.
In November 2021 an independent research group examined the potential of cepharanthine to limit the cytopathic effects of the South African COVID-19 variant, B.1.351. It was found that cepharanthine was at least 6-times more active against the South African variant strain than original SARS-CoV-2, and that cepharanthine was the most effective of all the drugs used in the in vitro screen that was perfomed8. Although the recent Omicron variant discovered in South African nations shares several features in common with the previous South African variant, B.1.351, it remains to be determined how well cepharanthine will perform at treating this emerging threat. Intriguingly, the same authors also noted that cepharanthine displayed significant potency with a favorable selectivity index for other RNA viruses including Zika and Ebola10. Despite the promising findings for cepharanthine noted above, translation into clinical application has thus far been hampered by the need for the generic formulation of the drug to be delivered by intravenous due to its intrinsically poor oral bioavailability.
As such, it is believed that the Company’s novel oral formulation of cepharanthine, PD-001 would be an ideal candidate to evaluate as a potential treatment for mild to moderate COVID-19. By leveraging its exclusive rights to U.S. Patent: 10,576,077, titled “Pharmaceutical Salt forms of Cepharanthine and Tetrandrine”, PharmaDrug intends to develop and commercialize PD-001 as an oral antiviral treatment for patients with mild to moderate SARS-CoV-2 infection.
How Cepharanthine May Work to Block Coronavirus Entry
In a recent peer reviewed manuscript cepharanthine was shown to display greater antiviral potency against SARS-CoV-2 than existing clinical development candidates remdesivir, lopinavir, favipiravir, nelfinavir and chloroquine7. Researchers identified a putative binding site on the surface of the SARS-CoV-2 spike protein known to facilitate viral docking with the human ACE2 receptor. Consistent with this mechanism of action, application of cepharanthine to cells exposed to SARS-CoV-2 fully blocked viral internalization and subsequent production of viral particles 24 hours post infection7.
The Company is not making any express or implied claims that its product has the ability to eliminate or cure COVID-19 (SARS-2 Coronavirus) at this time.
About PharmaDrug Inc.
PharmaDrug is a specialty pharmaceutical company focused on the research, development and commercialization of controlled-substances and natural medicines such as psychedelics and previously approved drugs. PharmaDrug owns 100% Sairiyo Therapeutics (“Sairiyo”), a biotech company that specializes in researching and reformulating established natural medicines with a goal of bringing them through clinical trials and the associated regulatory approval process in the US and Europe. Sairiyo is currently developing its patented reformulation of cepharanthine, a drug that has shown substantial third party validated potential for the treatment of infectious disease (including Covid-19) and rare cancers. Sairiyo is also conducting R&D in the psychedelics space for the treatment of non-neuropsychiatric conditions. The Company also owns 100% of Super Smart, a company building a vertically integrated retail business with the goal to elevate the use of functional mushrooms as natural based medicines.
For further information, please contact:
Daniel Cohen, Chairman and CEO
Caution Regarding Forward-Looking Information:
THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains “forward-looking information” within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budgets”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. In particular, this press release contains forward-looking information in relation to: the development and commercialization of cepharanthine, the timing of the clinical trial-scale production of cGMP Cepharanthine-2HCL the results of the Company’s research and development in the psychedelics space and the development of the Supersmart business. This forward-looking information reflects the Company’s current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to the ability of the Company to successfully execute on its plans for the Company and its affiliated entities; the ability to obtain required regulatory approvals and the Company’s continued response and ability to navigate the COVID-19 pandemic being consistent with, or better than, its ability and response to date.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; the actual results of the Company’s future operations; competition; changes in legislation affecting the Company; the ability to obtain and maintain required permits and approvals, the timing and availability of external financing on acceptable terms; lack of qualified, skilled labour or loss of key individuals; risks related to the COVID-19 pandemic including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions; and a deterioration of financial markets that could limit the Company’s ability to obtain external financing.
A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company’s disclosure documents on the SEDAR website at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulations under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. 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 the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward-looking information contained in this press release is expressly qualified by this cautionary statement. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, are subject to change after such date. However, the Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
- Bailly C. Cepharanthine: An update of its mode of action, pharmacological properties and medical applications. Phytomedicine. 2019 Sep;62:152956. doi: 10.1016/j.phymed.2019.152956. Epub 2019 May 10. PMID: 31132753; PMCID: PMC7126782.
- Rogosnitzky M, Danks R. Therapeutic potential of the biscoclaurine alkaloid, cepharanthine, for a range of clinical conditions. Pharmacol Rep. 2011;63(2):337-47. doi: 10.1016/s1734-1140(11)70500-x. PMID: 21602589.
- Saito T, Hikita M, Kohno K, Tanimura H, Miyahara M, Kobayashi M. Enhanced expression of the multidrug resistance gene in vindesine-resistant human esophageal cancer cells. Oncology. 1994 Sep-Oct;51(5):440-5. doi: 10.1159/000227380. PMID: 8052486.
- Zhou P, Zhang R, Wang Y, Xu D, Zhang L, Qin J, Su G, Feng Y, Chen H, You S, Rui W, Liu H, Chen S, Chen H, Wang Y. Cepharanthine hydrochloride reverses the mdr1 (P-glycoprotein)-mediated esophageal squamous cell carcinoma cell cisplatin resistance through JNK and p53 signals. Oncotarget. 2017 Nov 27;8(67):111144-111160. doi: 10.18632/oncotarget.22676. Erratum in: Oncotarget. 2021 Jan 05;12(1):61-62. PMID: 29340044; PMCID: PMC5762312.
- Huang CZ, Wang YF, Zhang Y, Peng YM, Liu YX, Ma F, Jiang JH, Wang QD. Cepharanthine hydrochloride reverses P glycoprotein-mediated multidrug resistance in human ovarian carcinoma A2780/Taxol cells by inhibiting the PI3K/Akt signaling pathway. Oncol Rep. 2017 Oct;38(4):2558-2564. doi: 10.3892/or.2017.5879. Epub 2017 Aug 4. PMID: 28791369.
- Zahedi P, De Souza R, Huynh L, Piquette-Miller M, Allen C. Combination drug delivery strategy for the treatment of multidrug resistant ovarian cancer. Mol Pharm. 2011 Feb 7;8(1):260-9. doi: 10.1021/mp100323z. Epub 2010 Dec 17. PMID: 21166459.
- Ohashi H, Watashi K, Saso W, Shionoya K, Iwanami S, Hirokawa T, Shirai T, Kanaya S, Ito Y, Kim KS, Nomura T, Suzuki T, Nishioka K, Ando S, Ejima K, Koizumi Y, Tanaka T, Aoki S, Kuramochi K, Suzuki T, Hashiguchi T, Maenaka K, Matano T, Muramatsu M, Saijo M, Aihara K, Iwami S, Takeda M, McKeating JA, Wakita T. Potential anti-COVID-19 agents, cepharanthine and nelfinavir, and their usage for combination treatment. iScience. 2021 Apr 23;24(4):102367. doi: 10.1016/j.isci.2021.102367. Epub 2021 Mar 26. PMID: 33817567; PMCID: PMC7997640.
- Chen CZ, Xu M, Pradhan M, Gorshkov K, Petersen JD, Straus MR, Zhu W, Shinn P, Guo H, Shen M, Klumpp-Thomas C, Michael SG, Zimmerberg J, Zheng W, Whittaker GR. Identifying SARS-CoV-2 Entry Inhibitors through Drug Repurposing Screens of SARS-S and MERS-S Pseudotyped Particles. ACS Pharmacol Transl Sci. 2020 Oct 19;3(6):1165-1175. doi: 10.1021/acsptsci.0c00112. PMID: 33330839; PMCID: PMC7586456.
- Fan HH, Wang LQ, Liu WL, An XP, Liu ZD, He XQ, Song LH, Tong YG. Repurposing of clinically approved drugs for treatment of coronavirus disease 2019 in a 2019-novel coronavirus-related coronavirus model. Chin Med J (Engl). 2020 May 5;133(9):1051-1056. doi: 10.1097/CM9.0000000000000797. PMID: 32149769; PMCID: PMC7147283.
- Zhang S, Huang W, Ren L, Ju X, Gong M, Rao J, Sun L, Li P, Ding Q, Wang J, Zhang QC. Comparison of viral RNA-host protein interactomes across pathogenic RNA viruses informs rapid antiviral drug discovery for SARS-CoV-2. Cell Res. 2021 Nov 4:1-15. doi: 10.1038/s41422-021-00581-y. Epub ahead of print. PMID: 34737357; PMCID: PMC8566969.
LOS ANGELES, Aug. 17, 2022 (GLOBE NEWSWIRE) — Foothills Exploration, Inc. (OTC: FTXP), including its direct and indirect subsidiaries, (“Foothills,” or the “Company”), an oil and gas exploration company focused on delivering the energy needs of today and tomorrow, released its second quarter review of its financial performance for the three months ended June 30, 2022.
The Company continued solid revenue growth with its second consecutive quarter of growing revenue and its asset base.
- Foothills reported a 72% increase in revenue to $468,000 during the three months ended June 30, 2022 (“Q2 2022”), compared to $271,000 for the previous quarter ended March 31, 2022 (“Q1 2022”).
- Foothills also reported a 182% increase in gross revenues to $739,000 during the six months ending June 30, 2022, compared to $262,000 for the same period last year.
- The ratio of operating expenses (excluding non-cash items) to revenue decreased 32% from 2.69 in 2021 compared to 1.84 for the six months ending June 30, 2022.
The Company demonstrated significant growth year over year with the addition of producing assets and higher commodity pricing. Please see Quarterly Report filed with OTC Markets on August 15, 2022.
The Company is also engaged in active discussions to settle and retire existing debt and warrants and to minimize further dilution moving forward. Any future dilution shall be for financing acquisitions accretive to earnings or for executing on the Company’s strategy.
Foothills’ Executive Chairman, Kevin J. Sylla, commented, “we are pleased to report that our second quarter 2022 results represent a significant improvement over prior year and we demonstrated solid growth over last quarter. We not only meaningfully increased production revenue, but we acquired assets in the Mid-Continent that provide us with multiple opportunities to grow our production profile in the near future, said Sylla. “Looking ahead, we plan to leverage our operational expertise and relationships to seek out underdeveloped and underappreciated assets to acquire that add to the reserve base, increase free cash flow, and which can add to our development inventory,” closed Sylla.
“The last two quarters demonstrate our ongoing commitment to building a strong, sustainable growth business to drive revenue and significant growth opportunities for shareholders,” said Bruno P. Allaire, the Company’s CEO. “Future transactions in our acquisitions pipeline will be in concert with our current strategy of increasing free cash flows and creating shareholder value,” continued Allaire. “Our main objective currently is working with operators in secondary basins to acquire non-core, stranded, and distressed properties at a substantial discount to intrinsic values where we can optimize the assets to unlock hidden value,” ended Allaire.
About the Company
Foothills Exploration, Inc. (“FTXP” or the “Company”), is an oil and gas exploration and development company focused on delivering the energy needs of today and tomorrow. The Company’s strategy is to build a balanced portfolio of assets through two core initiatives. The first initiative is to generate high-impact oil and gas exploration projects. The second is to invest in hydrogen and geothermal projects for a low carbon future through its New Energy Ventures division by identifying areas where the Company can contribute to a viable, realistic, and balanced future energy mix. For additional information please visit the Company’s website at www.foothillspetro.com.
All statements, other than statements of historical facts, included in this release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. These statements are based on certain assumptions we made based on management’s experience, perception of historical trends and technical analyses, current conditions, capital plans, drilling plans, production expectations, our ability to raise adequate additional capital, or enter into other financing arrangements to support our acquisition, development and drilling activities, anticipated future developments, and other factors believed to be appropriate and reasonable by management. When used in this release, words such as “will,” “possible,” “potential,” “believe,” “estimate,” “intend,” “expect,” “may,” “should,” “anticipate,” “could,” “plan,” “predict,” “project,” “profile,” “model,” “strategy,” “future” or their negatives or the statements that include these words or other words that convey the uncertainty of future events or outcomes, are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. In particular, statements, express or implied, concerning our future operating results and returns or our ability to acquire or develop proven or probable reserves, our ability to replace or increase reserves, increase production, or generate income or cash flows are forward-looking statements.
Forward-looking statements are not guarantees of performance. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. As a result, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all) or will prove to have been correct. We have had sporadic and limited revenue and our securities are subject to considerable risk. Investors are cautioned to review FTXP’s filings with the Securities and Exchange Commission for a discussion of risk and other factors that affect our business. Any forward-looking statement made by us in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development or otherwise, except as may be required by law. The Company intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
EVP of Finance
AmeraMex International, Inc. (OTCQB:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction, and forestry conservation, reported financial results for its second quarter ended June 30, 2022.
Statement of Operations for the Quarter Ended June 30, 2022
The Company reported revenue of approximately $2.4 million versus revenue of $4.9 million for the comparable 2021 quarter, a 62 percent decrease. Had all the equipment shipped as planned, the Sales of Equipment and Other Revenues would have been $5,066,746, $115,140 more than the comparable 2021 quarter. These delays in shipping were caused by back-ordered parts, interstate trucking delays and lack of availability of third-party shippers.
The Company is committed to getting the remaining machines shipped in the third quarter as well as continuing its ongoing sales efforts.
Gross profit for the quarter was $420,000, compared to gross profit of $970,000 for the comparable quarter. If the additional equipment had shipped, gross profit would have been approximately $3 million.
Gross profit as a percentage of sales, was 18 percent for the quarter compared to gross profit as a percentage of sales of 15 percent for the comparable quarter.
Net income for the quarter was $146,172 compared to net income of $78,000 for the comparable quarter. Prices of equipment have been adjusted to cover increased cost of goods sold and operating costs. Earnings per share were $0.01 for the quarter compared to $0.01 for the comparable 2021 quarter.
Statement of Operations for the Six-Month period June 30, 2022
The company reported revenue of approximately $7.3 million versus revenue of $10.3 million for the comparable 2021 period. The 26 percent decrease in Sales of Equipment and Other Revenues for the six-month period, is due to delays in shipping sold machines to customers. Had all sold machines shipped, Sales of Equipment and Other Revenues would have been approximately $9.6 million, a $750,000 increase over the comparable six-month period.
Gross profit for the period was $1.7 million compared to gross profit of $2.1 million for the comparable period. If the additional equipment had shipped, gross profit would have been $4.4 million.
Gross profit as a percentage of sales, was 23 percent for the period compared to gross profit as a percentage of sales of 21 percent for the comparable period.
Net income for the period was $404,489 compared to net income of $443,879 for the comparable period. Earnings per share were $0.03 for the period compared to $0.03 for the comparable 2021 period. Had all sold equipment been shipped, net income for the six-month period would have been $1.3 million with EPS of $0.08.
Balance Sheet for the Period Ended June 30, 2022
Current Assets rose 33 percent to $10.0 million while Total Assets increased $2.6 million due in part to a $4.2 million increase in Inventory.
Current Liabilities for the period have increased approximately $500,000 while Total Liabilities increased $2.7 million due in part to a $1.3 million Line of Credit.
About AmeraMex International
AmeraMex International sells, leases and rents heavy equipment to companies within multiple industries including construction, logistics, mining, and lumber. AmeraMex, with a US and international customer base, has over 30 years of experience in heavy equipment sales and service. Follow AmeraMex on Twitter @ammx_intl and visit the AmeraMex website, www.AMMX.net or www.hamreequipment.com for additional information and equipment videos.
This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as “believe,” “expect,” “anticipate,” “plan,” “potential,” “continue” or similar expressions. Such forward-looking statements include risks and uncertainties, and there are key factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Companys filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Companys control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Companys current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if added information becomes available in the future.
Contact DetailsMarty Tullio
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Sales and Marketing Veteran Brian Rashid Appointed Regional Sales Manager
DALLAS, TX, Aug. 11, 2022 (GLOBE NEWSWIRE) — viaNewMediaWire – NaturalShrimp, Inc. (OTCQB: SHMP), a Biotechnology Aquaculture Company that has developed and patented the commercially operational RAS (Recirculating Aquaculture System), today issued a marketing and sales update.
Live Shrimp Sales
The Company has established a regular live shrimp sales program with customers in Chicago (from the Webster City, IA facility) and San Antonio (from the La Coste, TX facility). These customers quickly sell the shrimp, rapidly increasing demand for more product. Deliveries are now increasing every week and NaturalShrimp’s distribution footprint will significantly increase in Austin and Dallas following recent successes in San Antonio.
Regional Sales Manager
NaturalShrimp also announced that Brian Rashid has been appointed Regional Sales Manager, where he will lead area sales and marketing efforts. Brian was born in San Antonio, Texas and currently lives in the hill country near Boerne. Brian attended Trinity University, where he majored in Business Management and Administration. He has spent his 19-year career in Sales and Marketing, the last 13 years of which he was the Director of Sales for a nationally recognized U.S. company. Brian brings extensive experience, both growing large customer-bases and managing key account relationships.
Dallas-based Harvest Select Retail On-Line Program
The Company has identified a location of interest in the Dallas Fort Worth area for its NaturalShrimp Distribution Center. The distribution center will enable NaturalShrimp to receive and process product for packaging and preparing shrimp for our online ordering and home delivery program. The Company is currently testing packaging of heads on fresh, frozen, and cooked shrimp. Chef Douwe Iedema will be heading up the NaturalShrimp Distribution Center along with offering his unique NaturalShrimp sauces and spices. The NaturalShrimp Distribution Center would make it possible for the Company to process thousands of pounds of shrimp not only for the home, but as a distribution hub for pickup and delivery to local chefs, as well as in-person purchasing and pick up to the general public.
“We are now seeing increasing sales for our live shrimp sales program and are currently in advanced talks to supply fresh product to a leading national wholesale food service distributor, starting in Texas,” said Gerald Easterling, CEO of NaturalShrimp. “To help lead these efforts, we have recently brought on a new sales manager, Brian Rashid. Brian has demonstrated his ability to build solid relationships and is a creative thinker who will ensure we deliver consistent quality product and benchmark service to our customers across multiple sales channels as we continue with our growth strategy.”
Marco Van Den Berg, Vice President of Sales, added, “Our key retail customers have confirmed that their overall consumer conversion rate, following several trial purchases, are increasing every week. Wild caught shrimp is not consistent and has many factors impacting supply. Our quality by far exceeds imported frozen wild caught or farmed product. However, delivering live product requires a steady supply that is consistent in size and quality, customer education and special attention to servicing our customers post-delivery. We believe we can continue to build the live market in the United States with customers that never purchased live because they couldn’t procure it consistently. We now have reputable restaurant chains seeking a point of differentiation, requesting Live and Fresh product in many of the fastest growing urban cities.”
NaturalShrimp, Inc. is a publicly traded aquaculture Company, headquartered in Dallas, with production facilities located near San Antonio, Texas and Webster City, Iowa. The Company has developed the first commercially viable system for growing shrimp in enclosed, salt-water systems, using patented technology to produce fresh, never frozen, naturally grown shrimp, without the use of antibiotics or toxic chemicals. NaturalShrimp systems can be located anywhere in the world to produce gourmet-grade Pacific white shrimp. For more information visitwww.naturalshrimp.com.
This press release contains a number of forward-looking statements that reflect management’s current views with respect to future events and financial performance. Forward-looking statements are projections in respect of future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. These statements include statements regarding the intent, belief or current expectations of us and members of our management team, as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risk and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks set forth in the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2021, any of which may cause our company’s or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in our forward-looking statements.
Investor Relations Contact
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MZ North America
Nextech AR Solutions Corp. (“Nextech” or the “Company”) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), a Metaverse Company and leading provider of augmented reality (“AR”) experience technologies and 3D modelling services for ecommerce brands is pleased to announce the launch of its ARitize Configurator as an upgrade to the ARitize 3D app in Shopify. This launch further cements the Company’s leadership position by offering one integrated solution for Shopify merchants. To date, the ARitize 3D app for Shopify has had a 40% conversion rate with 312 downloads, and 124 merchants in paid plan subscriptions. Adoption is growing in the Shopify community for 3D models, and it is anticipated that adding the Configurator option will only accelerate merchants’ adoption.
Watch a video of the ARitize Configurator – click here
Nextech AR CEO Evan Gappelberg commented, “Over the past several years, eCommerce sales have sky-rocketed on Shopify and Amazon. Customers are shopping more online and making more purchases online than ever before in new categories like furniture due to 3D models and AR. In my opinion, it is only a matter of time before all brands and businesses will need to shift and embrace new 3D modelling technologies to gain an edge over the competition. Brands must invest in 3D models, or they will risk being left behind by their competitors.” He continues, “We are seeing strong momentum in our business and are working with the largest ecomm Prime Marketplace as well as others who have a very large appetite for 3D models. We have what I believe is the highest-quality AI-powered 3D modelling and configuration technology that’s now available on Shopify which is another major ecommerce merchant platform.”
ARitize Configurator allows eCommerce sites to display multiple product variations from only one 3D model, which is all that’s needed to lay the groundwork for an extended product portfolio. With a single 3D model acting as the base, the Company’s technology has made it easy to swap and display all product options and customizations. Customers have the ability to interchange colors, parts, materials and textures in real-time 3D to suit their personal preferences. With the augmented reality feature, customers can also place the customized high quality 3D product in their home or desired location, to see how the product would look in their space. This allows customers to see customized products from every angle and position them appropriately prior to purchasing, leading to better purchasing decisions and greater buying confidence. This provides an exciting, immersive shopping experience that keeps customers more engaged, better informed, which has shown to generate up to a 94% increase in conversions and a 40% reduction in returns.1
With Nextech AR’s integrated ARitize Configurator technology now available in the ARitize 3D app in the Shopify merchant store, the Company provides a one-stop solution for eCommerce businesses, incorporating both 3D model making and product configurations. This makes the adoption of 3D/AR extremely easy, simple and affordable for Shopify merchants as they can subscribe for different plans which suit their needs and manage the app themselves from their merchant Shopify admin. The functionality is also seamless, as the ARitize 3D app holds an extension that allows Shopify merchants to embed a configurator onto their PDP without modifying code – allowing for an easy drag and drop wherever desired on the product page.
About ARitize Configurator
Nextech AR Solutions ARitize Configurator is one of the most advanced configuration products on the market today. It is a software extension of the award-winning ARitize 3D app that allows consumers, buyers, and sales reps to customize & preview high-quality 3D models of products they wish to purchase. The Configurator makes it easy for shoppers to change colors, parts and materials all in engaging real-time 3D.
Nextech AR Solutions is a global augmented reality company that is powering the metaverse. Its technology – including ARitize Configurator – helps businesses in a range of industries like eCommerce, advertising, packaging design, virtual events, digital learning achieve next-level interactivity. To learn more, visit https://www.nextechar.com/aritize-configurator
About Nextech AR
Nextech AR Solutions is the engine accelerating the growth of the Metaverse. Using breakthrough AI, Nextech AR is able to quickly, easily and affordably ARitize (transform) vast quantities and varieties of existing assets at scale making products, people and places ready for interactive 3D use, giving creators at every level all the essential tools they need to build out their digital AR vision in the Metaverse. Our platform agnostic tools allow brands, educators, students, manufacturers, creators, and technologists to create immersive, interactive and the most photo-realistic 3D assets and digital environments, compose AR experiences, and publish them omnichannel. With a full suite of end-to-end AR solutions in 3D Commerce, Education, Events, and Industrial Manufacturing, Nextech AR is in a unique position to meet the needs of the world’s biggest brands and all Metaverse contributors.
Nextech funds the development of its AR and Metaverse growth initiatives through its e-Commerce platforms, which currently generate most of its revenue. Nextech’s e-commerce platforms include: vacuumcleanermarket.com (“VCM”), infinitepetlife.com (“IPL”) and Trulyfesupplements.com (“TruLyfe”). VCM and product sales of residential vacuums, supplies and parts, and small home appliances sold on Amazon. These e-commerce platforms serve as an incubator for developing and testing Nextech’s leading edge AR, AI and machine learning applications for powering next-generation e-commerce technology.
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Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the completion of the transaction are subject to known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove to be accurate, as future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
Melbourne, FL, Aug. 08, 2022 (GLOBE NEWSWIRE) — Kona Gold Beverage, Inc. (OTCQB: KGKG), a holding company focused on product development in the better-for-you and hemp and CBD functional beverage sector is pleased to announce its subsidiary, Kona Gold LLC, has expanded its sales team with the hiring of a Wisconsin Territory Manager and a West Coast Region Territory Manager. Both hires have extensive beverage backgrounds and are already making an impact on sales within the Company. Kona Gold, whose distribution partners are primarily on the East Coast and Midwest of the United States, is excited to be expanding to the West Coast of the U.S. Within the last week, the Company has signed two new distribution partners, one in Nevada and one in California, which it will be announcing very soon.
Kona Gold Beverage continues to have record monthly and quarterly sales and anticipates that growth to continue through the rest of the year. By expanding its sales team and adding new distribution partners, the Company anticipates having a very strong second half of the year as it already has a record sales year in 2022.
“I’m very excited to announce the addition to our sales team with the recent hiring of our new West Coast Region Territory Manager, Brett Catanzaro, and our new Wisconsin Territory Manger, Mike Kardelis,” stated Robert Clark, CEO of Kona Gold Beverage, Inc. “Both gentlemen come to us with great experience in growing beverage brands and are already making a big impact on our team. I’m looking forward to them growing our Wisconsin market and expanding into California, Nevada, and other states on the western side of the United States.”
Kona Gold Beverage recently announced its second quarter gross revenue was the highest quarterly gross revenue in Company history. The Company’s subsidiaries combined gross revenue was approximately $1,230,000 for the second quarter with subsidiary breakdowns of approximately $955,000 from Gold Leaf Distribution LLC and approximately $275,000 from Kona Gold LLC. Kona Gold Beverage’s 2022 Q2 revenue is an increase of approximately 15% from the previous quarter and an increase of approximately 44% from the same quarter in 2021.
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About Kona Gold Beverage, Inc.
Kona Gold Beverage, Inc., a Delaware corporation, has created wholly-owned subsidiaries, Kona Gold LLC, HighDrate, LLC, and Gold Leaf Distribution, LLC. Kona Gold, LLC has developed a premium Hemp-Infused Energy Drink line; please visit its website at www.konagoldhemp.com. HighDrate, LLC has developed the beverage industry’s first CBD-Infused Energy Water, available in 6 delicious flavors; please visit its website at www.highdrateme.com. Gold Leaf Distribution, LLC was created to fill the Company’s distribution needs in markets that it wants to enter quickly; please visit its website at www.goldleafdist.com. Kona Gold Beverage, Inc. recently rebranded its Lemin Lemonade to Ooh La Lemin Lemonade; please visit its website at www.oohlalemin.com. Kona Gold and its family of companies are located on the east coast of Florida in Melbourne and in Greer and Conway South Carolina.
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The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may,” “will,” “should,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions. The Company may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. There can be no assurance that such statements will prove to be accurate. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company’s Registration Statement on Form S-1. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company’s control. The Company does not undertake any obligation to update publicly or to revise any statements in this release, whether as a result of new information, future events, or otherwise.
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