Join the world’s smartest futurist, Dr Richard Hames, and our very own fact explorer Danny Clayton, as we unpack some of Australia and the world’s most widely shared and searched conspiracy theories
Join the world’s smartest futurist, Dr Richard Hames, and our very own fact explorer Danny Clayton, as we unpack some of Australia and the world’s most widely shared and searched conspiracy theories
TPCO Holding Corp. ("The Parent Company" or the "Company") (NEO: GRAM.U) (OTCQX: GRAMF), today reported financial results for the first quarter ending March 31, 2021 ("Q1 2021"). The Company’s Q1 2021 financial results reflect the closing of the Company’s qualifying transaction on January 15, 2021. Prior to closing of the qualifying transaction, the Company was a special purpose acquisition company with no commercial operations. As such, reported sales figures for this quarter are expected to be lower than in future quarters due to the abridged operating period. All amounts are expressed in U.S. dollars.
The European Commission wants to propose in 2023 a more unified way of taxing companies in the European Union, hoping that such rules, which have failed to win support in the past, will stand a better chance if they follow global OECD solutions expected this year. The Commission will present a plan on Tuesday including this proposal and other measures for adjusting the EU's business taxation to make it more up to date with the modern world, where cross-border business, often carried out via the Internet, is commonplace. The deal is aimed at stopping governments competing with each other through lowering tax rates to attract investment and at creating a way to tax profits in countries where the customers are rather than where a company sets up its office for tax purposes.
(Bloomberg) -- A controversial mailbox outside an Amazon.com Inc. warehouse during a recent union election was modified by the U.S. Postal Service after a senior executive supported its installation, according to testimony at a hearing over the disputed vote.A USPS official told the hearing Monday that agency personnel removed a divider normally placed between the outgoing mail slot and the parcel slot. Photos displayed during the hearing also showed another missing divider that could potentially let someone collecting letters access outbound mail as well. The revelations followed testimony last week from an Amazon employee who said he saw company security guards use a key to open one of the mail boxes.The mailbox outside Amazon’s Bessemer, Alabama, facility is at the center of the Retail, Wholesale and Department Store Union’s bid to overturn its election loss there. Amazon says it requested the mailbox to provide a secure and convenient means for employees to vote, but the union says the mailbox gave Amazon the ability to spy on workers as they voted and created the appearance that the retail giant was involved in conducting the election.The National Labor Relations Board, which oversees union votes, started holding hearings last week on the RWDSU’s objections. Emails displayed during the Zoom hearing on Monday detailed the extent of Amazon’s campaign, which looped in senior USPS officials in Washington. In one email, an Amazon official said the mailbox’s installation was a top priority for senior leadership, including retail and logistics chief Dave Clark.“Please let me know where we stand on this -- this is a highly visible Dave Clark initiative,” Becky Moore, a senior manager at Amazon, wrote to USPS officials in late January, seeking an update on the company’s request. Another email indicated that Adam Baker, a vice president with Amazon’s transportation group, had “escalated” the request to Jacqueline Krage Strako, USPS’s chief commerce and business solutions officer, who reports to Postmaster General Louis DeJoy.Jay Smith, director of enterprise and key accounts for the USPS, testified on Monday that the postal service had determined it could not place a blue collection box outside the warehouse on a temporary basis. Instead, it decided to install a cluster box, a rectangular steel enclosure that contains multiple locked doors, a setup often found at apartment complexes or commercial buildings. Smith said it was the first time he was aware of USPS installing a cluster box at the request of a private customer.In early February, Smith informed Moore and Brian Palmer, a senior manager with Amazon’s public policy group in Washington, that USPS would install a cluster box outside the facility later that week. (Portions of the email exchanges, some of which were obtained in redacted form by the union through Freedom of Information Act requests, were reported last month by the Washington Post.)The cluster box appears from the outside to be divided into 14 compartments -- 12 numbered mailboxes for different recipients’ incoming mail, a compartment for outgoing mail and a larger compartment at the bottom right, normally used for parcels, labeled “1P.” Amazon employee Kevin Jackson testified last week that he saw the security guards open the box labeled “1P.”Smith said the divider between the outgoing mail slot and the parcel slot was removed to create more room for ballots.But images of the mailbox with all of its doors ajar shown during Monday’s hearing also appeared to indicate another modification: no divider between mailbox 12 and the outgoing mail compartment. According to the photos, a mail recipient who possessed a key to box 12 may have been able to access outgoing mail as well.During cross-examination by a lawyer representing Amazon, Smith said the company was not given a copy of the “arrow key” necessary to open the outgoing mail compartment, a key to the parcel box, or a key to box no. 12 for the purposes of accessing outgoing mail. Any effort to allow the company access to the compartment would have violated agency policy, he said.Smith did say that Amazon, as an addressee at the site, would have had keys to open whichever of the recipient mailboxes that it was assigned. It is unclear which box Amazon used. Smith said the installation of the cluster box, which had previously sat unused, was within postal service policy.Palmer subsequently asked Smith if it would be all right to place a “vote here” sticker above the outgoing mail slot, according to an email presented on Monday. Smith testified that he told Amazon it wasn’t possible. He added that he was surprised to learn, from images published in the Washington Post, that Amazon had erected a tent over the mailbox bearing the text “Speak for yourself! Mail your ballot here.”“I did not want to see anything else put around that box indicating that it was a vote,” Smith said.(Updates with details to mailbox modifications beginning in the first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Sue Bird had a good sense of humor about being the same age as a teammate's mom.
Ellington Financial Announces Estimated Book Value Per Common Share as of April 30, 2021
Fisker Inc. today announced its financial results for the first quarter ended March 31, 2021.
VANCOUVER, British Columbia, May 17, 2021 (GLOBE NEWSWIRE) -- MAG Silver Corp. (TSX / NYSE American: MAG) (“MAG” or the “Company”) announces the Company’s unaudited financial results for the three months ended March 31, 2021. For details of the unaudited condensed interim consolidated financial statements and Management's Discussion and Analysis for the three months ended March 31, 2021, please see the Company’s filings on SEDAR (www.sedar.com) or on EDGAR (www.sec.gov). All amounts herein are reported in $000s of United States dollars (“US$”) unless otherwise specified. HIGHLIGHTS – MARCH 31, 2021 AND EVENTS SUBSEQUENT TO THE QUARTER END OPERATIONAL Batch processing of mineralized material from development headings through the nearby Fresnillo plant continues at a targeted average nominal rate of 16,000 tonnes per month.Since August 2020, 108,254 tonnes have been processed, expected to: contribute cash-flow to offset some of the initial project capital; andsignificantly speed up project ramp-up due to the de-risking of Juanicipio’s metallurgical performance. As reported by the operator Fresnillo, the Juanicipio plant is expected to commence commissioning in Q4 2021, reaching 40 to 50% of its 4,000 tonnes per day (“tpd”) nameplate capacity by the end of 2021 and reaching 90 to 95% of its nameplate capacity in 2022. During Q1 2021, on a 100% basis: 36,395 tonnes of mineralized material processed through the Fresnillo plant;40% higher silver head grade (458 grams per tonne (“g/t”)) than the material processed in 2020 (328 g/t); and431,188 payable silver ounces, 631 payable gold ounces, 137 tonnes of lead and 199 tonnes of zinc sold. Pre-commercial production sales of $10,085 (net of treatment and processing costs) on a 100% basis less $1,886 in mining and transportation costs, netting $8,199 that was recorded as gross profit by the Juanicipio Joint Venture in Q1 2021. Positive progress was achieved during the quarter on the construction of the 4,000 tpd Juanicipio processing plant and civil works. Mechanical installation of the major processing equipment is nearly complete, and the construction is focused on completing the building envelope along with pipework and electrical/instrumentation installation. Mechanical completion of the SAG and ball mills expected in Q2 2021. A regularly updated photo gallery of construction progress at Juanicipio is available at https://magsilver.com/projects/photo-gallery/#photo-gallery.Underground development at Juanicipio is now over 37 km (23 miles) with preparation of the first production stope complete.Juanicipio capex is estimated at $440,000 (100% basis) as of January 1, 2018, less approximately $272,000 in development expenditures incurred from then to March 31, 2021 leaving approximately $168,000 of remaining initial capital on a 100% basis (MAG’s 44% estimated at $73,920) as at March 31, 2021. The cash required will be reduced by: Existing cash held in Minera Juanicipio as at March 31, 2021 ($3,067 on a 100% basis); andExpected cashflow generated from mineralized material being processed through the Fresnillo plant up until the Juanicipio plant commences commissioning in Q4 2021. A further 16,771 tonnes of development material were processed in April 2021. EXPLORATION In spite of temporary COVID-19 restrictions established by the Mexican Government in 2020, the full Juanicipio 2020 exploration program was completed as planned in 2020, drilling 33 holes and 27,900 metres. Full assays expected in Q2 2021. The 2021 Exploration program for Juanicipio is budgeted at $6 million on a 100% basis, to be evenly allocated between continued step-out and infill drilling of the Valdecañas Vein System (including independent targeting of the Venadas Vein family and the Anticipada Vein) and three principal target areas elsewhere in the Joint Venture ground.Deer Trail Project in Utah - Phase I drilling commenced in November, 2020 and is expected to be completed in Q2 2021 (assays and interpretations pending). COVID-19 Juanicipio operator, Fresnillo, has implemented a range of safety measures and monitoring procedures, consistent with World Health Organization and Mexican Government COVID-19 directives.In Q1 2021, Fresnillo, as operator, reported that commissioning of the Juanicipio processing plant is presently expected to commence in Q4 2021, a few months later than previously reported as some infrastructure contracts were delayed due to COVID-19 and COVID-19-related preventive measures implemented at site. LIQUIDITY AND CAPITAL RESOURCES As at March 31, 2021, MAG held cash and cash equivalents of $92,844 while Minera Juanicipio had cash on hand on a 100% basis of $3,067. CORPORATE Company continues to refresh its board, with the appointment of two new directors in Q1 2021: Appointed Susan Mathieu on January 13, 2021. Ms. Mathieu has more than twenty-five years of international mining experience encompassing due diligence, exploration, project development, permitting, construction and operational positions. Her mining experience covers the full spectrum from mine-site to corporate leadership roles in governance, environment, sustainability, community, health and safety, compliance and risk management programs and strategies. Prior to joining the MAG board, Ms. Mathieu was the Vice President, Environment and Sustainability with NexGen Energy, and previously held senior positions with Placer Dome, Falconbridge, Centerra Gold and Golder Associates.Appointed Tim Baker on March 31, 2021. Mr. Baker has substantial experience in operating international mines and projects. He was Executive Vice President and Chief Operating Officer of Kinross Gold Corporation prior to retiring in 2010. Prior to joining Kinross, he was with Placer Dome, where he held several key roles including Executive General Manager of Placer Dome Chile, Executive General Manager of Placer Dome Tanzania and Senior Vice President of the copper producing Compañia Minera Zaldivar. Mr. Baker is currently Chair of Golden Star Resources, a director of Sherritt International Corp. and serves on the Triple Flag Precious Metals Corp. Advisory Board. Mr. Baker has previously been a director on the boards of Augusta Resources Corp., Antofagasta PLC, Eldorado Gold Corp., Rye Patch Gold (later Alio Gold) and Pacific Rim Mining Corp.At the time Tim Baker was appointed, Richard Clark resigned from the board to focus on other professional responsibilities. JUANICIPIO PROJECT UPDATE Underground Mine Production Mineralized material from development is being batch processed, refined and sold on commercial terms at a targeted rate of 16,000 tonnes per month at the nearby Fresnillo plant 14 kilometres away. The resulting concentrate is treated in Torreon, Coahuila. This preproduction toll processing is expected to continue until the Juanicipio plant commences commissioning in Q4 2021. The actual amount of material processed on a monthly basis may vary due to the variability of mineralization encountered in the development headings from month to month. In the quarter ended March 31, 2021, 36,395 tonnes were batch processed, with an average silver head grade of 458 g/t (a 40% increase in silver head grade compared to the 328 g/t for development material processed in 2020). Total sales from the tonnes processed in Q1 2021, on a 100% basis, were 431,188 payable silver ounces, 631 payable gold ounces, 137 tonnes of lead and 199 tonnes of zinc. Provisional sales, net of processing and treatment costs totaled $10,085, and further costs incurred (including an applied mining cost and transportation costs) totaled $1,886 for a gross profit of $8,199 (see Table 1 below). The sales and treatment charges for tonnes processed in Q1 2021 were recorded on a provisional basis and will be adjusted based on final assay and pricing adjustments in accordance with the offtake contracts. Processing details are summarized in Table 1 below. Table 1: Q1 2021 Development Material Processed at Fresnillo’s Processing Plant (100% basis) QuantityAverage Per UnitAmountQ1 2020 (1)Silver (oz)(per oz)431,188 ounces$25.87$11,157 -Gold (oz)(per oz)631 ounces$1,728.59$1,090 -Lead (tonnes)(per lb)137 tonnes$0.88$267 -Zinc (tonnes)(per lb)199 tonnes$1.27$555 -Treatment and refining charges (“TCRCs”) and other processing costs$(1,838) -Provisional sales adjustment related to 2020 sales (2)$(1,146) -Net Sales $10,085 -Mining and transportation costs$(1,886) -Gross Profit$8,199 - (1) Underground mine production of development material commenced in August of 2020, so there are no comparable Q1 2020 results. (2) Provisional sales for 2020 were finalized in Q1 2021 resulting in negative adjustment to net sales revenue of $1,146. Since August 2020, a total of 108,254 tonnes of mineralized development material have been processed at the Fresnillo plant in advance of commissioning the Juanicipio plant. MAG and Fresnillo expect to secure several positive outcomes from this processing for the Juanicipio Project: generating cash-flow from production to offset some of the cash requirements of the initial project capital;de-risking the flotation process through a better understanding of the metallurgical characteristics and response of the Juanicipio mineralization;increased certainty around the geological block model prior to start-up of the processing plant; andallowing a faster and more certain ramp-up to the nameplate 4,000 tpd plant design. Processing Plant Construction and Commissioning In the quarter ended March 31, 2021, further positive progress was achieved on the construction of the Juanicipio processing plant and civil works. The plant foundations were completed, with plant fabrication continuing. The SAG and ball mills are now installed, and their mechanical completion is expected in Q2 2021. The lead and zinc flotation cell lines have been installed and are being connected to the hydraulic circuit. Construction of the initial tailings storage facility has also begun. Fresnillo, as operator, recently reported that commissioning of the Juanicipio processing plant is expected to commence in Q4 2021. The Juanicipio plant is expected to reach 40 to 50% of the nameplate 4,000 tpd capacity by the end of 2021 and 90-95% in 2022. In contrast, the 2017 PEA originally envisioned ramp-up to full production over 3 years after commissioning of the processing plant. The capex or pre-operative project capital cost on a 100% basis, as estimated from January 1, 2018 is $440,000. The initial capital already expended from January 1, 2018 to March 31, 2021 is approximately $272,000 leaving an estimated $168,000 of remaining initial capital (MAG’s 44% estimated remaining share is $73,920 as at March 31, 2021). This remaining funding requirement will be reduced by both: existing cash held in Minera Juanicipio as at March 31, 2021 ($3,067 on a 100% basis); and expected cash flows generated from mineralized development material processed at an average nominal rate of 16,000 tonnes per month through the Fresnillo processing plant until the Juanicipio plant is commissioned. Juanicipio Exploration Update On the exploration front, the Juanicipio 2020 exploration program was completed as planned in 2020, comprising a total of 33 drill holes and 27,900 metres drilled. Full assays are expected in Q2 2021. The 2021 Exploration program for Juanicipio is budgeted at $6 million, to be evenly allocated between continued step-out and infill drilling of the Valdecañas Vein System (including independent targeting of the Venadas Vein family and the Anticipada Vein) and three principal target areas elsewhere in the Joint Venture ground. Drilling of the Valdecañas Vein System began in January 2021 with four drill rigs (all assays pending), with a fifth expected mid-year depending on crew availability. Three of the drill rigs remain dedicated to Devico directional drilling. Permit applications for drilling the outlying targets have been submitted or are in the process of being generated pending surface access arrangements. Meanwhile, detailed mapping and sampling of these targets is underway. All aspects of the exploration work continue to be done under strict COVID-19 protocols (see COVID-19 below). DEER TRAIL PROJECT UPDATE Phase I surface-based core drilling program is approximately 70% complete at March 31, 2021, and is expected to be completed during Q2 2021 with assays and interpretations expected shortly thereafter. Follow-up Phase II drill targeting is being planned as interpretation of the incoming core and draft lab results are incorporated into the district geological model. COVID-19 Juanicipio Project The Juanicipio Project operator, Fresnillo, continues to closely monitor the spread of the virus and has implemented a range of safety measures in accordance with the World Health Organization and Mexican Government guidelines. These include stringent monitoring & hygiene, temperature screening and social distancing. Testing and contact tracing have been used to identify potential cases and prevent the spread of the virus. Fresnillo maintains an open dialogue with government officials at both the Federal and local level. Deer Trail Project Safety is one of MAG’s key core values and MAG has implemented strict COVID-19 protocols for the Deer Trail Project in line with guidance from governmental public health agencies. The Company established its COVID-19 response plan for Deer Trail in June 2020 with safety measures that include mandatory mask use, COVID-19 testing for contractors and employees prior to returning to site, temperature screening, employee health surveys, antibody rapid tests for team members to track exposure and social distancing. The Company continues to monitor the Utah Center for Disease Control and World Health Organization recommendations, updating the protocols in September 2020 and again in early January 2021. These updates include additional controls for positive result cases and a safe return to the workplace plan (post COVID-19). Most project employees and contractors have now been fully vaccinated. Qualified Person: Dr. Peter Megaw, Ph.D., C.P.G., has acted as the Qualified Person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the technical information in this release. Dr. Megaw has a Ph.D. in geology and more than 40 years of relevant experience focused on ore deposit exploration worldwide. He is a Certified Professional Geologist (CPG 10227) by the American Institute of Professional Geologists and an Arizona Registered Geologist (ARG 21613). Dr. Megaw is not independent as he is Chief Exploration Officer and a Shareholder of MAG. FINANCIAL RESULTS – THREE MONTHS ENDED MARCH 31, 2021 As at March 31, 2021, the Company had working capital of $94,923 (December 31, 2020: $94,513) including cash and cash equivalents of $92,844 (December 31, 2020: $94,008) and no long-term debt. As well, as at March 31, 2021, Minera Juanicipio had cash of $3,067 (MAG’s attributable 44% share of $1,349). The Company makes cash advances to Minera Juanicipio as ‘cash called’ by the operator Fresnillo, based on approved joint venture budgets. Subsequent to March 31, 2021, the Company advanced $23,716 to Minera Juanicipio representing 44% of a $53,900 cash call to fund process plant construction and further underground development of the Juanicipio property. The Company’s net loss for three months ended March 31, 2021 amounted to $3,662 or $(0.04)/share (March 31, 2020: $14,898 or $(0.17)/share). The Company recorded a 44% equity income pick-up of $632 (March 31, 2020: $4,687 equity loss pick-up) from Minera Juanicipio which included MAG’s 44% share of net income from the sale of pre-production development material (see Table 2 below). The Company recorded deferred income tax expense of $1,647 for the three months ended March 31, 2021 (March 31, 2020: $8,694) driven primarily by the non-cash devaluation of certain tax assets denominated in Mexican Pesos, as the Mexico Pesos devalued against the US dollar in the quarter. Share based payment expense (a non-cash item) recorded in the three months ended March 31, 2021 amounted to $1,193 (March 31, 2020: $478). Table 2: MAG’s Equity Pick-up from Minera Juanicipio March 31, 2021March 31, 2020Gross Profit from processing development material (see Table 1 above)$8,199 NilAdministrative expenses$(368) NilInterest and foreign exchange loss$(1,075) $(3,875) Net Income (Loss) before tax$6,756 $(3,875) Income tax expense (including deferred income tax)$(5,320) $(6,766) Net Income (Loss) for the period (100% basis)$ 1,436 $(10,651) MAG’s 44% equity pick-up$ 632 $(4,687) About MAG Silver Corp. (www.magsilver.com ) MAG Silver Corp. (MAG: TSX / NYSE A) is a Canadian development and exploration company focused on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district scale, silver-dominant projects in the Americas. Its principal focus and asset is the Juanicipio Project (44%), being developed in a Joint Venture partnership with Fresnillo Plc (56%), the Operator. Juanicipio is located in the Fresnillo Silver Trend in Mexico, the world's premier silver mining camp, and the Joint Venture is currently developing an underground mine and constructing a 4,000 tonnes per day processing plant which is expected to commence commissioning in Q4 2021. Underground mine production of development material commenced in Q3 2020, and an expanded exploration program is in place targeting multiple highly prospective targets both at Juanicipio by the Joint Venture and by MAG at the Deer Trail 100% earn-in project in Utah. Neither the Toronto Stock Exchange nor the NYSE American has reviewed or accepted responsibility for the accuracy or adequacy of this press release, which has been prepared by management. This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the US Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts are forward looking statements, including statements that address future mineral production, reserve potential, exploration drilling, exploitation activities and events or developments. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although MAG believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, changes in commodities prices, changes in mineral production performance, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions, political risk, currency risk and capital cost inflation. In addition, forward-looking statements are subject to various risks, including that data is incomplete and considerable additional work will be required to complete further evaluation, including but not limited to drilling, engineering and socio-economic studies and investment. The reader is referred to the Company’s filings with the SEC and Canadian securities regulators for disclosure regarding these and other risk factors. There is no certainty that any forward-looking statement will come to pass and investors should not place undue reliance upon forward-looking statements. Please Note: Investors are urged to consider closely the disclosures in MAG's annual and quarterly reports and other public filings, accessible through the Internet at www.sedar.com and www.sec.gov LEI: 254900LGL904N7F3EL14 CONTACT: For further information on behalf of MAG Silver Corp. Contact Michael J. Curlook, VP Investor Relations and Communications Phone: (604) 630-1399 Toll Free:(866) 630-1399 Website: www.magsilver.com Email: firstname.lastname@example.org
- April Property-Level Cash Flow of $3.8 Million -- Successfully Closed on the Sale of the Duane Street Hotel - PHILADELPHIA, May 17, 2021 (GLOBE NEWSWIRE) -- Hersha Hospitality Trust (NYSE: HT) (“Hersha” or the “Company”), owner of high-quality hotels in urban gateway markets and regional resort destinations, today announced operating results for April 2021 and the closing of the sale of the 43-room Duane Street Hotel. April Operating Results Property-level cash flow of $3.8 million, 15% above forecastCorporate-level cash burn of $3.2 million, including preferred dividends40% GOP margin for comparable portfolioResort portfolio continued its outperformance in April $4.2 million in absolute EBITDA generation41% weighted average EBITDA margin44% RevPAR growth at the Parrot Key Hotel & Villas26% RevPAR growth at the Sanctuary Beach Resort “Demand sequentially improved from March into April, highlighted by robust performance from our South Florida and Resort-oriented hotels. Results exceeded our expectations on both the top and bottom line as total portfolio revenue was 30% above our forecast at the beginning of the month. Strong demand, coupled with the stringent cost containment measures we have implemented across our hotels, led to 72% flow through in April. Thus far during the second quarter, we have seen early stages of the business travel recovery take shape, with many of our hotels housing guests in the Financial, Pharmaceutical, and Technology sectors with small corporate groups booked in the second half of the year. As cities continue to lift restrictions, we anticipate travel from both business and leisure customers to materially improve through the summer in our urban gateway markets,” stated Mr. Jay H. Shah, Hersha’s Chief Executive Officer. Duane Street Hotel DispositionHersha closed on the previously announced sale of the 43-room Duane Street Hotel in TriBeCa, NYC for $18.0 million or $419,000 per key. The transaction was executed at a 19.5x multiple and a 4.3% capitalization rate on 2019 Hotel EBITDA and net operating income, respectively. Proceeds from the sale were utilized to pay down debt. Mr. Shah continued, “Last week, we successfully closed on the sale of the Duane Street Hotel in New York City at an attractive price bringing the asset-disposition strategy we embarked on 9 months ago to equitize the portfolio to a conclusion. With all previously announced hotel sales completed, we are hyper focused on operational performance across our portfolio, which has generated robust results year-to-date. May performance month-to-date at our South Florida and West Coast hotels highlights our ability to maintain rate integrity in the early stages of the cycle, which will remain a critical component of the sector’s recovery as occupancies incrementally build through the balance of the year. We believe our purpose-built suite of hotels is best situated to capture this increased demand from both leisure and business travelers over the next several months and through the recovery.” Cushman and Wakefield served as advisor to Hersha Hospitality Trust on the sale of the Duane Street Hotel. Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high-quality hotels in urban gateway markets and regional resort destinations. The Company's 36 hotels totaling 5,802 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast. The Company's common shares are traded on The New York Stock Exchange under the ticker “HT.” For more information on the Company, and the Company’s hotel portfolio, please visit the Company's website at www.hersha.com Forward Looking StatementThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and, as such, may involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance to differ from those reflected in the forward-looking statement. For a description of factors that may cause the Company’s actual results or performance to differ from its forward-looking statements, please review the information under the heading “Risk Factors” included in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed by the Company with the Securities and Exchange Commission (“SEC”) and other documents filed by the Company with the SEC from time to time. Contact:Ashish Parikh, Chief Financial Officer Greg Costa, Director of Investor Relations Phone: (215) 238-1046
Shares of electric vehicle start-up Nikola (NASDAQ: NKLA) are down more than 80% from June 2020 highs after the company was called out for exaggerations and potential falsehoods about its business plans. Along with a letter of intent for sales of 100 trucks, the company revealed it continues to work to make hydrogen fuel a real potential growth engine for the truck maker. Nikola has released several items of interest for investors in recent weeks.
‘Tell him to start paying bills,’ one viewer wrote
Walmart, the world's largest retailer, will post quarterly results Tuesday morning, with the report set to show a wave of elevated consumer spending at the retailer in 2020 moderated slightly in the first three months of this year.
PHOENIX, May 17, 2021 (GLOBE NEWSWIRE) -- WillScot Mobile Mini Holdings Corp. (“WillScot Mobile Mini Holdings” or the “Company”) (Nasdaq: WSC), today announced that all 2015 Private Warrant holders have either exercised their warrants on a cashless basis in exchange for WSC common stock or agreed to have their warrants repurchased by the Company for cash. The holders received the number of shares of common stock they were entitled to receive under the terms of the warrant agreement upon a cashless exercise, or, in the case of repurchases, the dollar equivalent thereof, with no premium. The 2015 Private Warrants were issued by Double Eagle Acquisition Corp in connection with its IPO, prior to its combination with Williams Scotsman in 2017. Tim Boswell, Chief Financial Officer, commented, “Among the former holders of the 2015 Private Warrants, we are fortunate to have a supportive group of investors who are both enthusiastic about our long-term vision for WillScot Mobile Mini and fully aligned with our shareholders. The members of our board of directors who held Private Warrants elected to receive stock, and we issued a combination of stock and cash, under our $500 million share repurchase authority, to the other holders.” Boswell continued, “As these transactions occurred in the second quarter of 2021, we expect to report a final fair value adjustment related to our Common Stock Warrant Liability in our second quarter earnings, but we will no longer report a Common Stock Warrant Liability on our June 30th Balance Sheet or any warrant fair value adjustments in our Income Statement in future periods. This activity does not impact our operational performance indicators, our GAAP metrics above Operating Income, or our non-GAAP metrics.” The Company issued an aggregate of 2.9 million shares of common stock in connection with the cashless exercises and repurchased the balance of the 2015 Private Warrants for $20.7 million. As of May 17, 2021, the Company has 230,088,279 shares of common stock outstanding, 8,943,493 2018 Warrants outstanding, and no 2015 Public or Private Warrants outstanding. The remaining 2018 Warrants expire in November 2022. About WillScot Mobile Mini Holdings WillScot Mobile Mini Holdings trades on the Nasdaq stock exchange under the ticker symbol “WSC.” Headquartered in Phoenix, Arizona, the Company is a leading business services provider specializing in innovative flexible workspace and portable storage solutions. WillScot Mobile Mini services diverse end markets across all sectors of the economy from a network of approximately 275 branch locations and additional drop lots throughout the United States, Canada, Mexico, and the United Kingdom. Additional Information and Where to Find It Additional information can be found on the company’s website at www.willscotmobilemini.com Contact Information Investor Inquiries: Nick Girardinick.email@example.com Media Inquiries: Scott Junkscott.firstname.lastname@example.org
HireQuest, Inc. (Nasdaq: HQI), a national franchisor of on-demand, temporary, and commercial staffing services, today reported financial results for the first quarter ended March 31, 2021.
Park City Group Year-To-Date Net Income Increases 165% to $2.95 Million
Governor donated $500,000 and will establish trust for daughters with remainder after expenses
Stocks fell on Monday, resuming last week's declines as investors' concerns around rising inflation persisted.
Tiffany Pham Founder and CEO Mogul joined Yahoo Finance Live to break down the importance of workplace diversity and how they fill roles normally lacking diverse candidates.
A firefighter used a pole to pluck a wayward parrot off its perch on a window ledge in downtown Chicago on Sunday, to the delight of the crowd watching. (May 17)
First Quarter 2021 Revenue Increases 171% Year-Over-Year as Company Progresses with Monetization of Patented Technology CORSICANA, TX, May 17, 2021 (GLOBE NEWSWIRE) -- Midwest Energy Emissions Corp. (OTCQB: MEEC) ("ME2C Environmental" or the “Company”), a leading environmental technologies firm, has reported financial results for the first quarter ended March 31, 2021. Recent Highlights Entered into agreements with four major power producers and defendants named in initial litigation relating to ME2C patents; such agreements provide these parties a non-exclusive license to certain ME2C patentsSecured new supply agreement for mercury emissions capture business with large utility and current customer valued in excess of $2 million annuallyAnnounced new environmental technologies under development, including methane gas emissions capture, rare earth element (“REE”) extraction technologies, and water and soil remediation; pilot scale testing for REE extraction technologies and water and soil remediation to begin with energy industry partners in the near futureSecured multi-year contract extensions for mercury emissions capture business with two major utility customersRebranded trade name to ME2C Environmental to reflect the Company’s dedication more effectively in combatting climate change with a growing suite of proprietary emissions control technologiesStrengthened balance sheet by eliminating $1.85 million in convertible debt Corporate Update “The first quarter of 2021 signaled an incredibly strong start to what we believe will be a breakthrough year for ME2C as we make progress towards full monetization of our patented technologies across the U.S. coal-fired power fleet,” said Richard MacPherson, President & Chief Executive Officer of ME2C Environmental. “The new administration has driven a renewed impetus towards environmental regulatory compliance, driving strong inbound interest to our patented suite of emissions control solutions. We are well positioned to continue building a solid, recurring revenue base of strong margin licensing and supply agreements with tier-1 utilities nationwide. “Our litigation strategy in particular has been very successful thus far, having signed agreements with four major U.S. coal-fired producers named in the lawsuit. We are currently focused on maximizing this litigation strategy with the refined coal operators named as defendants in our 2019 lawsuit, and we believe the proprietary nature of our solutions supports a robust defense of our patents that could lead to significant monetization potential. Our intention is to be long-term business partners with utilities who rely on our processes and leverage our team’s deep knowledge and expertise to improve their plant efficiencies – creating cleaner, more sustainable communities for all. “While the mercury emissions capture business remains the foundation of our business today, we look forward to the testing of several new emissions control technologies in the near-term to round out our suite of solutions for the broader energy space. These state-of-the-art technologies - which focus on rare earth element capture, wastewater or soil remediation, and methane gas emissions control - offer promising solutions to the most pressing issues facing our world today. We are incredibly proud to be working on the forefront of the cleantech industry and look forward to creating sustainable value for our shareholders, our customers and their communities over the long-term,” concluded MacPherson. First Quarter 2021 Financial Results Total revenue in the first quarter of 2021 was $3.0 million, an increase of 171% from $1.1 million in the year-ago quarter. Such revenues were primarily derived from sorbent product sales which were $2.0 million and $1.1 for the three months ended March 31, 2021 and 2020, respectively. The increase from prior year is primarily due to the increase in capacity factor experienced by our EGU’s. Total costs and expenses in the first quarter of 2021 were $3.4 million compared to $2.9 million in the year-ago quarter. The increase in cost of sales is primarily attributable to the increase in sorbent product sales and legal fees. Net loss in the first quarter of 2021 was $0.4 million, or $(0.01) per basic and diluted share compared to a net loss of $1.8 million, or $(0.02) per diluted share, in the year-ago quarter. Adjusted EBITDA in the first quarter of 2021 was $69,000, compared to $(878,000) in the same year-ago period. About ME2C® Environmental ME2C Environmental (OTCQB: MEEC) is a leading environmental technologies company developing and delivering patented and proprietary emissions solutions to the global power industry. ME2C’s leading-edge services have been shown to achieve emissions removal at a significantly lower cost and with less operational impact than currently used methods, while maintaining and/or increasing power plant output and preserving the marketability of byproducts for beneficial use. ME2C Environmental is a trade name of Midwest Energy Emissions Corp. For more information, please visit http://www.me2cenvironmental.com/. Use of Non-GAAP Financial Measures To provide investors with additional information regarding our financial results, this press release includes references to Adjusted EBITDA, a Non-GAAP financial measure. We view Adjusted EBITDA as an operating performance measure and, as such, we believe that the GAAP financial measure most directly comparable to it is net income (loss). We define Adjusted EBITDA as net income adjusted for interest and financing fees, income taxes, depreciation, amortization, stock-based compensation, and other non-cash income and expenses. We believe that Adjusted EBITDA provides us an important measure of operating performance. Our use of Adjusted EBITDA has limitations as an analytical tool, and this measure should not be considered in isolation or as a substitute for an analysis of our results as reported under GAAP, as the excluded items may have significant effects on our operating results and financial condition. Additionally, our measure of Adjusted EBITDA may differ from other companies’ measure of Adjusted EBITDA. When evaluating our performance, Adjusted EBITDA should be considered with other financial performance measures, including various cash flow metrics, net income and other GAAP results. In the future, we may disclose different non-GAAP financial measures in order to help our investors and others more meaningfully evaluate and compare our future results of operations to our previously reported results of operations. Safe Harbor Statement With the exception of historical information contained in this press release, content herein may contain "forward-looking statements" that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified by using words such as "anticipate," "believe," "plan," "expect," "intend," "will," and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. Matters that may cause actual results to differ materially from those in the forward-looking statements include, among other factors, the gain or loss of a major customer, change in environmental regulations, disruption in supply of materials, capacity factor fluctuations of power plant operations and power demands, a significant change in general economic conditions in any of the regions where our customer utilities might experience significant changes in electric demand, a significant disruption in the supply of coal to our customer units, the loss of key management personnel, availability of capital and any major litigation regarding ME2C Environmental. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. ME2C Environmental does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Further information concerning issues that could materially affect financial performance related to forward-looking statements contained in this release can be found in ME2C Environmental’s periodic filings with the Securities and Exchange Commission. ME2C Environmental Contact:Stacey HyattCorporate Communications ME2C EnvironmentalMain: 614-505-6115 x-1001Direct: 404-226-4217 email@example.com Investor Relations Contact:Greg Falesnik or Brooks HamiltonMZ Group - MZ North America949-546-6326 MEEC@mzgroup.us www.mzgroup.us
REDUCE-IT® patients experienced substantial cardiovascular (CV) risk reduction with icosapent ethyl regardless of the presence or degree of dyslipidemia, as defined by various high TG plus low HDL-C levels Patients randomized to VASCEPA in EVAPORATE trial, in analyses of percent atheroma volume (PAV), had 55% lower coronary total plaque (TP) PAV and 61% lower coronary total non-calcified plaque (TNCP) PAV, compared with placebo Amarin to Webcast Discussion of Data Presented at ACC.21 Today, Monday, May 17, 2021 at 4:30 p.m., Eastern Time DUBLIN, Ireland and BRIDGEWATER, N.J., May 17, 2021 (GLOBE NEWSWIRE) -- Amarin Corporation plc (NASDAQ:AMRN) today announced the presentation of important VASCEPA® (icosapent ethyl) and its unique active ingredient-related scientific findings at ACC.21, the American College of Cardiology’s 70th Annual Scientific Session, held virtually from May 15 – 17, 2021, from a variety of academic collaborators based on research and analyses supported by Amarin. “Cardiovascular disease continues to be the leading cause of death worldwide, with the economic and societal burden increasing each year,” said Steven Ketchum, Ph.D., senior vice president, president of research & development, and chief scientific officer, Amarin. “As we strive to ease the strain on patients, their families, and healthcare systems around the world, we must continuously focus on the value that innovative therapies such as icosapent ethyl might offer at-risk patients. While we are proud that the clinical efficacy and safety of icosapent ethyl has been thoroughly reviewed and approved by regulatory authorities in the United States, Canada, and Europe as the only proven therapy for its indicated use in reducing cardiovascular risk, we are hopeful that our continued support of robust scientific presentation of the clinical effects and unique multifactorial mechanisms of action of icosapent ethyl will lead to a greater understanding and usage of this important product to help appropriate at-risk patients.” These presentations were on the following topics: REDUCE-IT® Clinical Data: “ICOSAPENT ETHYL REDUCES ISCHEMIC EVENTS IN PATIENTS WITH HIGH TRIGLYCERIDES AND LOW HIGH-DENSITY LIPOPROTEIN CHOLESTEROL LEVELS: REDUCE-IT HIGH TG/LOW HDL-C ANALYSES” – presented on behalf of all authors by Xiaowen Wang, M.D., Brigham and Women’s Hospital Heart and Vascular Center, Harvard Medical School, Boston, MA Highlights: Prespecified and post hoc analyses were conducted of first and total primary and key secondary endpoint events in REDUCE-IT patients with dyslipidemia, defined by the REDUCE-IT prespecified analysis levels of TG ≥200 and HDL-C ≤35 mg/dL, post hoc guideline-informed levels of TG ≥150 mg/dL and HDL-C <40/50 mg/dL (men/women), or post hoc STRENGTH inclusion criteria-informed levels of TG ≥180 and HDL-C <42/47 mg/dL (men/women). Compared with placebo, icosapent ethyl 4g/day significantly reduced first and total primary and key secondary endpoint events by approximately 30% to 40% in patients with dyslipidemia. Similar relative risk reductions were generally observed regardless of elevated TG, low HDL-C, or the combination thereof, suggesting that patients with or without dyslipidemia experience substantial cardiovascular (CV) risk reduction with icosapent ethyl therapy. “REDUCTION IN HEART FAILURE WITH ICOSAPENT ETHYL: INSIGHTS FROM REDUCE-IT HF” – presented on behalf of all authors by Deepak L. Bhatt, M.D., M.P.H., Brigham and Women’s Hospital Heart and Vascular Center, Harvard Medical School, Boston, MA (as described in a separate press release dated May 15, 2021 on Amarin’s website) Highlights: The REDUCE-IT HF analyses examined the effects of icosapent ethyl on the incidence of new heart failure by achieved on-treatment serum EPA levels in REDUCE-IT patients. New heart failure and new heart failure requiring hospitalization were prespecified tertiary endpoints and were not significant in the overall patient population. Post hoc analyses were conducted based on estimated average on-treatment EPA levels in patients in the icosapent ethyl group with available EPA measurements, as compared to patients in the placebo group with available EPA measurements; these analyses showed that new heart failure and new heart failure requiring hospitalization may be reduced in patients who achieve serum EPA levels higher than approximately 150 µg/mL, though this needs to be tested prospectively. EVAPORATE and Imaging: “EFFECT OF ICOSAPENT ETHYL ON PERCENT ATHEROMA VOLUME IN PATIENTS WITH ELEVATED TRIGLYCERIDES ON STATIN THERAPY: INSIGHTS FROM THE EVAPORATE TRIAL” – presented on behalf of all authors by Suvasini Lakshmanan, M.D., M.S., The Lundquist Institute at Harbor-UCLA Medical Center, Torrance, CA Highlights: The EVAPORATE trial sought to examine the anti-atherosclerotic effects of icosapent ethyl (IPE) (4g/day) as an adjunct to statins in patients with residually elevated triglycerides on serial Coronary Computed Tomography Angiography (CCTA) over 18 months. Percent atheroma volume (PAV) is identified as a robust prognostic marker of whole-heart atherosclerotic plaque characterization with CCTA. Sixty-eight patients (54% male, age 57.4± 9.2 years) who completed 18-month follow-up and with interpretable images were included in the coronary plaque analysis that revealed that those on IPE have 55% lower total plaque (TP) PAV and 61% lower total non-calcified plaque (TNCP) PAV, compared with placebo (p<0.01). IPE demonstrated significant reductions in coronary plaque burden on CCTA compared with placebo over 18 months. EVAPORATE provides crucial mechanistic insights on whole-heart atherosclerotic plaque burden that may explain the clinical benefits of IPE in REDUCE-IT. “ASSOCIATION OF BASELINE CORONARY PLAQUE BURDEN AND FRACTIONAL FLOW RESERVE DERIVED FROM CORONARY COMPUTED TOMOGRAPHY ANGIOGRAPHY (CCTA) IN THE EVAPORATE TRIAL” – presented on behalf of all authors by Suvasini Lakshmanan, M.D., M.S., The Lundquist Institute at Harbor-UCLA Medical Center, Torrance, CA Highlights: Atherosclerotic plaque burden and characteristics may affect vessel specific coronary physiology in high-risk patients. Forty-nine patients (49% female; age 57.2 ± 9.2 years) with interpretable images for Fractional Flow Reserve Computed Tomography (FFRCT) were included. Multivariable analyses revealed that fibrous, fibro-fatty, total non-calcified plaque, and total plaque volumes were independently associated with impaired mean distal FFRCT (p < 0.05) at baseline, associated with abnormal vessel specific hyperemic physiology as characterized by FFRCT in an asymptomatic cohort of high-risk patients enrolled in EVAPORATE. Mechanism of Action Insights: “EICOSAPENTAENOIC ACID (EPA) INCREASES HEME OXYGENASE-1 EXPRESSION IN ENDOTHELIAL CELLS UNDER CONDITIONS OF INFLAMMATION UNLIKE DOCOSAHEXAENOIC ACID (DHA)” – presented on behalf of all authors by R. Preston Mason, Ph.D., Brigham and Women’s Hospital, Boston, MA Highlights: Inducible heme oxygenase-1 (HO-1) catalyzes the degradation of heme into biliverdin, carbon monoxide and ferrous iron. These HO-1 products have potent antioxidant, vasodilatory and anti-inflammatory actions. Expression of HO-1 has been linked to nitric oxide (NO) bioavailability; a process influenced by the omega-3 fatty acid EPA. Endothelial cells (ECs) pretreated with EPA and DHA significantly down-/up-regulated expression of select proteins, compared with IL-6 alone. Only EPA upregulated inducible HO-1 by 150% (p = 0.02) and only EPA significantly increased NO release by 13% (p = 0.04) from these cells. These beneficial effects of EPA were not reproduced by DHA and may contribute to preserved vascular EC function and reduced CV risk as demonstrated in large outcome trials. “PLATELET ENDOTHELIAL CELL ADHESION MOLECULE-1 (PECAM-1) AND NITROXIDATIVE STRESS REDUCED BY EICOSAPENTAENOIC ACID (EPA) DURING CYTOKINE EXPOSURE IN ENDOTHELIAL CELLS” – presented on behalf of all authors by R. Preston Mason, Ph.D., Brigham and Women’s Hospital, Boston, MA Highlights: Platelet endothelial cell adhesion molecule-1 (PECAM-1) is widely expressed in multiple tissues, including vascular endothelial cells (ECs). In addition to its adhesive actions, PECAM-1 modulates diverse functions such as platelet activation, thrombosis, responses to shear stress and leukocyte migration. Cells pretreated with EPA and arachidonic acid (AA) significantly changed the expression of certain proteins, compared with IL-6 alone. Only EPA caused a pronounced decrease in PECAM-1 by 120% (p = 0.024) and only EPA significantly decreased ONOO− release by 17% (p = 0.045) relative to IL-6 alone from the ECs, unlike AA. These anti-inflammatory effects of EPA in vascular endothelium were not reproduced by AA and may contribute to its CV benefits at pharmacologic levels in clinical trials. Epidemiological Findings: “GLOBAL CARDIOVASCULAR RISK ASSESSMENT IMPROVES RISK STRATIFICATION FOR MAJOR ADVERSE CARDIAC EVENTS ACROSS A WIDE RANGE OF TRIGLYCERIDE LEVELS IN STATIN-TREATED INDIVIDUALS: INSIGHTS FROM THE KP REACH STUDY” – presented on behalf of all authors by Andrew P. Ambrosy, M.D., Kaiser Permanente San Francisco Medical Center, San Francisco, CA Highlights: The prognostic value of a global assessment of atherosclerotic cardiovascular disease (ASCVD) risk beyond triglyceride (TG) levels in statin-treated individuals has not been previously reported. KP REACH included all statin-treated adults at Kaiser Permanente Northern California between 2010-2017 with known ASCVD, a low-density lipoprotein cholesterol (LDL-C) of 41-100 mg/dL, and an available TG measurement. The Kaiser Permanente ASCVD Risk Estimator (KPARE) and ACC/AHA pooled cohort equation (PCE) were used to estimate 10-year ASCVD risk. Among 97,832 statin-treated individuals with prior ASCVD, the median (25th-75th) TG level was 116 (84-164) mg/dL. The overall rate of subsequent major adverse cardiovascular events (MACE) was 22 per 100 person-years. KPARE and the ACC/AHA PCE estimated 10-year ASCVD risk was significantly associated with MACE over the entire range of available TG measurements (all p<0.001). Adults treated for secondary prevention with a well-controlled LDL-C remain at high risk for recurrent ischemic events and a global assessment of ASCVD risk further improves risk stratification for MACE across a broad spectrum of TG levels. All analyses highlighted above were funded by Amarin. Brigham and Women’s Hospital receives research funding from Amarin for Dr. Bhatt’s work as the REDUCE-IT study Chair. Additional REDUCE-IT® and icosapent ethyl (EPA)-related topics presented at ACC.21 can be found here. Audio Webcast InformationAmarin will host an audio webcast today, Monday, May 17, 2021, at 4:30 p.m. ET to further discuss these and other VASCEPA-related findings presented during ACC.21, with replay available for a period of 14 days. The discussion will include various clinicians and scientists and will be moderated by Amarin’s chief medical officer, Craig Granowitz, M.D., Ph.D. To listen please register here, listen live on the investor relations section of the company's website at www.amarincorp.com, or via telephone by dialing 877-545-0320 within the United States, 973-528-0016 from outside the United States. A replay of the call will be made available for a period of two weeks following the conference call. To hear a replay of the call, dial 877-481-4010 within the United States, 919-882-2331, PIN: 41266. Any opinions or views expressed by the clinicians and scientists on the audio webcast are theirs alone. They have neither been scripted nor previewed by Amarin. While Amarin respects the scientific opinions of these clinicians and scientists, Amarin takes no responsibility for those opinions. Rather, this audio webcast is intended to provide summaries of recently presented scientific data for consideration by Amarin’s investors. About Amarin Amarin is an innovative pharmaceutical company leading a new paradigm in cardiovascular disease management. From our scientific research foundation to our focus on clinical trials, and now our commercial expansion, we are evolving and growing rapidly. Amarin has offices in Bridgewater, New Jersey in the United States, Dublin in Ireland, and Zug in Switzerland as well as commercial partners and suppliers around the world. We are committed to rethinking cardiovascular risk through the advancement of scientific understanding of the impact on society of significant residual risk that exists beyond traditional therapies, such as statins for cholesterol management. About Cardiovascular Risk Cardiovascular disease is the number one cause of death in the world. In the United States alone, cardiovascular disease results in 859,000 deaths per year.1 And the number of deaths in the United States attributed to cardiovascular disease continues to rise. In addition, in the United States there are 605,000 new and 200,000 recurrent heart attacks per year (approximately 1 every 40 seconds). Stroke rates are 795,000 per year (approximately 1 every 40 seconds), accounting for 1 of every 19 U.S. deaths. In aggregate, in the United States alone, there are more than 2.4 million major adverse cardiovascular events per year from cardiovascular disease or, on average, 1 every 13 seconds. Controlling bad cholesterol, also known as LDL-C, is one way to reduce a patient’s risk for cardiovascular events, such as heart attack, stroke or death. However, even with the achievement of target LDL-C levels, millions of patients still have significant and persistent risk of cardiovascular events, especially those patients with elevated triglycerides. Statin therapy has been shown to control LDL-C, thereby reducing the risk of cardiovascular events by 25-35%.2 Significant cardiovascular risk remains after statin therapy. People with elevated triglycerides have 35% more cardiovascular events compared to people with normal (in range) triglycerides taking statins. 3,4,5 About REDUCE-IT® REDUCE-IT was a global cardiovascular outcomes study designed to evaluate the effect of VASCEPA in adult patients with LDL-C controlled to between 41-100 mg/dL (median baseline 75 mg/dL) by statin therapy and various cardiovascular risk factors including persistent elevated triglycerides between 135-499 mg/dL (median baseline 216 mg/dL) and either established cardiovascular disease (secondary prevention cohort) or diabetes mellitus and at least one other cardiovascular risk factor (primary prevention cohort). REDUCE-IT, conducted over seven years and completed in 2018, followed 8,179 patients at over 400 clinical sites in 11 countries with the largest number of sites located within the United States. REDUCE-IT was conducted based on a special protocol assessment agreement with FDA. The design of the REDUCE-IT study was published in March 2017 in Clinical Cardiology.6 The primary results of REDUCE-IT were published in The New England Journal of Medicine in November 2018.7 The total events results of REDUCE-IT were published in the Journal of the American College of Cardiology in March 2019.8 These and other publications can be found in the R&D section on the company’s website at www.amarincorp.com. About VASCEPA® (icosapent ethyl) Capsules VASCEPA (icosapent ethyl) capsules are the first-and-only prescription treatment approved by the U.S. Food and Drug Administration (FDA) comprised solely of the active ingredient, icosapent ethyl (IPE), a unique form of eicosapentaenoic acid. VASCEPA was launched in the United States in January 2020 as the first and only drug approved by the U.S. FDA for treatment of the studied high-risk patients with persistent cardiovascular risk after statin therapy. VASCEPA was initially launched in the United States in 2013 based on the drug’s initial FDA approved indication for use as an adjunct therapy to diet to reduce triglyceride levels in adult patients with severe (≥500 mg/dL) hypertriglyceridemia. Since launch, VASCEPA has been prescribed over ten million times. VASCEPA is covered by most major medical insurance plans. In addition to the United States, VASCEPA is approved and sold in Canada, Lebanon and the United Arab Emirates. In Europe, in March 2021 marketing authorization was granted to icosapent ethyl in the European Union for the reduction of risk of cardiovascular events in patients at high cardiovascular risk, under the brand name VAZKEPA. Indications and Limitation of Use (in the United States)VASCEPA is indicated: As an adjunct to maximally tolerated statin therapy to reduce the risk of myocardial infarction, stroke, coronary revascularization and unstable angina requiring hospitalization in adult patients with elevated triglyceride (TG) levels (≥ 150 mg/dL) and established cardiovascular disease ordiabetes mellitus and two or more additional risk factors for cardiovascular disease. As an adjunct to diet to reduce TG levels in adult patients with severe (≥ 500 mg/dL) hypertriglyceridemia. The effect of VASCEPA on the risk for pancreatitis in patients with severe hypertriglyceridemia has not been determined. Important Safety Information VASCEPA is contraindicated in patients with known hypersensitivity (e.g., anaphylactic reaction) to VASCEPA or any of its components.VASCEPA was associated with an increased risk (3% vs 2%) of atrial fibrillation or atrial flutter requiring hospitalization in a double-blind, placebo-controlled trial. The incidence of atrial fibrillation was greater in patients with a previous history of atrial fibrillation or atrial flutter.It is not known whether patients with allergies to fish and/or shellfish are at an increased risk of an allergic reaction to VASCEPA. Patients with such allergies should discontinue VASCEPA if any reactions occur.VASCEPA was associated with an increased risk (12% vs 10%) of bleeding in a double-blind, placebo-controlled trial. The incidence of bleeding was greater in patients receiving concomitant antithrombotic medications, such as aspirin, clopidogrel or warfarin.Common adverse reactions in the cardiovascular outcomes trial (incidence ≥3% and ≥1% more frequent than placebo): musculoskeletal pain (4% vs 3%), peripheral edema (7% vs 5%), constipation (5% vs 4%), gout (4% vs 3%), and atrial fibrillation (5% vs 4%).Common adverse reactions in the hypertriglyceridemia trials (incidence >1% more frequent than placebo): arthralgia (2% vs 1%) and oropharyngeal pain (1% vs 0.3%).Adverse events may be reported by calling 1-855-VASCEPA or the FDA at 1-800-FDA-1088.Patients receiving VASCEPA and concomitant anticoagulants and/or anti-platelet agents should be monitored for bleeding. Key clinical effects of VASCEPA on major adverse cardiovascular events are included in the Clinical Studies section of the prescribing information for VASCEPA as set forth below: Effect of VASCEPA on Time to First Occurrence of Cardiovascular Events in Patients with Elevated Triglyceride levels and Other Risk Factors for Cardiovascular Disease in REDUCE-IT VASCEPAPlaceboVASCEPA vs PlaceboN =4089n (%)IncidenceRate(per 100patientyears)N = 4090n (%)IncidenceRate (per 100patientyears)Hazard Ratio(95% CI)Primary composite endpointCardiovascular death, myocardial infarction, stroke, coronary revascularization, hospitalization for unstable angina (5-point MACE)705(17.2)4.3901(22.0)5.70.75(0.68, 0.83)Key secondary composite endpointCardiovascular death, myocardial infarction, stroke (3-point MACE)459(11.2)2.7606(14.8)3.70.74(0.65, 0.83)Other secondary endpointsFatal or non-fatal myocardial infarction250(6.1)1.5355(8.7)2.10.69(0.58, 0.81)Emergent or urgent coronary revascularization216(5.3)1.3321(7.8)1.90.65(0.55, 0.78)Cardiovascular death 174(4.3)1.0213(5.2)1.20.80(0.66, 0.98)Hospitalization for unstable angina 108(2.6)0.6157(3.8)0.90.68(0.53, 0.87)Fatal or non-fatal stroke98(2.4)0.6134(3.3)0.80.72(0.55, 0.93) Includes adjudicated cardiovascular deaths and deaths of undetermined causality. Determined to be caused by myocardial ischemia by invasive/non-invasive testing and requiring emergent hospitalization. FULL U.S. FDA-APPROVED VASCEPA PRESCRIBING INFORMATION CAN BE FOUND AT WWW.VASCEPA.COM. Forward-Looking Statements This press release contains forward-looking statements, including statements regarding the potential impact of VASCEPA in various clinical uses. These forward-looking statements are not promises or guarantees and involve substantial risks and uncertainties. Among the factors that could cause actual results to differ materially from those described or projected herein include the following: uncertainties associated generally with research and development and clinical trials such as further clinical evaluations failing to confirm earlier findings. A further list and description of these risks, uncertainties and other risks associated with an investment in Amarin can be found in Amarin's filings with the U.S. Securities and Exchange Commission, including its most recent Quarterly Report on Form 10-Q. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Amarin undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. Amarin’s forward-looking statements do not reflect the potential impact of significant transactions the company may enter into, such as mergers, acquisitions, dispositions, joint ventures or any material agreements that Amarin may enter into, amend or terminate. Availability of Other Information About Amarin Investors and others should note that Amarin communicates with its investors and the public using the company website (www.amarincorp.com), the investor relations website (investor.amarincorp.com), including but not limited to investor presentations and investor FAQs, Securities and Exchange Commission filings, press releases, public conference calls and webcasts. The information that Amarin posts on these channels and websites could be deemed to be material information. As a result, Amarin encourages investors, the media, and others interested in Amarin to review the information that is posted on these channels, including the investor relations website, on a regular basis. This list of channels may be updated from time to time on Amarin’s investor relations website and may include social media channels. The contents of Amarin’s website or these channels, or any other website that may be accessed from its website or these channels, shall not be deemed incorporated by reference in any filing under the Securities Act of 1933. Amarin Contact InformationInvestor Inquiries:Investor RelationsAmarin Corporation plcIn U.S.: +1 (908) 719-1315 IR@amarincorp.com (investor inquiries) Solebury Troutamarinir@troutgroup.com Media Inquiries:CommunicationsAmarin Corporation plcIn U.S.: +1 (908) 892-2028 PR@amarincorp.com (media inquiries) AMARIN, REDUCE-IT, VASCEPA and VAZKEPA are trademarks of Amarin Pharmaceuticals Ireland Limited. VAZKEPA is a registered trademark in Europe and other countries and regions and is pending registration in the United States. ____________________1 American Heart Association. Heart Disease and Stroke Statistics—2020 Update: A Report From the American Heart Association. Circulation. 2020;141:e139-e596.2 Ganda OP, Bhatt DL, Mason RP, et al. Unmet need for adjunctive dyslipidemia therapy in hypertriglyceridemia management. J Am Coll Cardiol. 2018;72(3):330-343.3 Budoff M. Triglycerides and triglyceride-rich lipoproteins in the causal pathway of cardiovascular disease. Am J Cardiol. 2016;118:138-145. 4 Toth PP, Granowitz C, Hull M, et al. High triglycerides are associated with increased cardiovascular events, medical costs, and resource use: A real-world administrative claims analysis of statin-treated patients with high residual cardiovascular risk. J Am Heart Assoc. 2018;7(15):e008740.5 Nordestgaard BG. Triglyceride-rich lipoproteins and atherosclerotic cardiovascular disease - New insights from epidemiology, genetics, and biology. Circ Res. 2016;118:547-563.6 Bhatt DL, Steg PG, Brinton E, et al., on behalf of the REDUCE-IT Investigators. Rationale and Design of REDUCE‐IT: Reduction of Cardiovascular Events with Icosapent Ethyl–Intervention Trial. Clin Cardiol. 2017;40:138-148.7 Bhatt DL, Steg PG, Miller M, et al., on behalf of the REDUCE-IT Investigators. Cardiovascular Risk Reduction with Icosapent Ethyl for Hypertriglyceridemia. N Engl J Med. 2019;380:11-22.8 Bhatt DL, Steg PG, Miller M, et al., on behalf of the REDUCE-IT Investigators. Reduction in first and total ischemic events with icosapent ethyl across baseline triglyceride tertiles. J Am Coll Cardiol. 2019;74:1159-1161.