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LUCKIN COFFEE INVESTOR ALERT: Lawsuit Filed On Behalf of Shareholders, DEADLINE APPROACHING

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Boston, Massachusetts–(Newsfile Corp. – April 8, 2020) – Thornton Law Firm LLP alerts investors that a lawsuit has been filed on behalf of shareholders of Luckin Coffee (NASDAQ: LK). Investors who purchased the Company’s securities from May 17, 2019 through April 2, 2020 are encouraged to contact the firm before April 13, 2020 to learn more about their potential claims and legal rights. Investors may visit https://www.tenlaw.com/cases/LK. Shareholders may also contact Thornton Law Firm at shareholder@tenlaw.com, or call 617-531-3917. The deadline for LK investors to submit lead plaintiff applications is April 13, 2020. There is no minimum number of shares required to be a class member, and investors do not need to apply to be a lead plaintiff to be a member of the class.

FOR MORE INFORMATION, VISIT: https://www.tenlaw.com/cases/LK

On April 2, 2020, Luckin announced that it was suspending its Chief Operating Officer and several other employees for misconduct related to the fabrication of sales or transactions. In a press release, Luckin announced that it was forming a special committee of the Board of Directors to oversee an internal investigation into certain issues raised to the Board’s attention during the audit of the consolidated financial statements for the fiscal year ended December 31, 2019.

The Company’s press release stated: “The information identified at this preliminary stage of the Internal Investigation indicates that the aggregate sales amount associated with the fabricated transactions from the second quarter of 2019 to the fourth quarter of 2019 amount to around RMB 2.2 billion. Certain costs and expenses were also substantially inflated by fabricated transactions during this period.” The Company also stated: “As a result, investors should no longer rely upon the Company’s previous financial statements and earning releases for the nine months ended September 30, 2019 and the two quarters starting April 1, 2019 and ended September 30, 2019….”

Luckin Coffee investors who purchased LK securities between May 17, 2019 and April 2, 2020 that are interested to learn more about their potential claims and legal rights are encouraged to visit https://www.tenlaw.com/cases/LK. Shareholders may also contact Thornton Law Firm at shareholder@tenlaw.com, or call 617-531-3917.

FOR MORE INFORMATION: https://www.tenlaw.com/cases/LK

Thornton Law Firm’s securities attorneys are highly experienced in representing individual shareholders and institutional investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

CONTACT:
Thornton Law Firm LLP
State Street Financial Center
1 Lincoln Street
Boston, MA 02111

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54264

Tivity Deadline Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Tivity Health, Inc. To Contact The Firm

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New York, New York–(Newsfile Corp. – April 8, 2020) – Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Tivity Health, Inc. (NASDAQ: TVTY) (“Tivity” or the “Company”) of the April 27, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Tivity Health Inc.

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If you invested in Tivity stock or options between March 8, 2019 and February 19, 2020 and would like to discuss your legal rights, click here: http://www.faruqilaw.com/TVTY. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the Middle District of Tennessee on behalf of all those who purchased Tivity securities between March 8, 2019 and February 19, 2020 (the “Class Period”). The case, Strougo v. Tivity Health, Inc. et al., No. 3:20-cv-00165 was filed on February 25, 2020, and has been assigned to Judge Waverly D. Crenshaw, Jr.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) following the Nutrisystem Acquisition, Tivity’s Nutrition segment faced significant operational challenges; (2) the foregoing would foreseeably have a significant impact on Tivity’s revenues; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On February 19, 2020, Tivity issued a press release announcing the Company’s financial results for the fourth quarter and year ended December 31, 2019. Tivity disclosed, inter alia, that its “Nutrition segment had a disappointing end to 2019,” which included “a non-cash impairment charge of $(377.1) million,” contributing to a net loss for the Company of $272.8 million in the fourth quarter. Concurrently, Tivity announced the resignation of the Company’s Chief Executive Officer (“CEO”) Donato Tramuto (“Tramuto”), effective immediately. Discussing the Company’s financial results on an earnings call, the Company’s interim CEO, Robert Greczyn, stated that “[a]dmittedly, the nutrition business has not worked out as well as planned since the completion of the [Nutrisystem Acquisition] in March 2019.”

On this news, Tivity’s stock price fell from $22.93 per share on February 20, 2020 to $12.50 per share on February 21, 2020: a $10.43 or 45.49% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Tivity’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54246

Tupperware Deadline Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 in Tupperware Brands Corporation to Contact the Firm

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New York, New York–(Newsfile Corp. – April 8, 2020) – Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Tupperware Brands Corporation (NYSE:TUP) (“Tupperware” or the “Company”) of the April 27, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi logo

If you invested in Tupperware stock or options between January 30, 2019 and February 24, 2020 and would like to discuss your legal rights, click here: www.faruqilaw.com/TUP. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com

Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased Tupperware securities between January 30, 2019 and February 24, 2020 (the “Class Period”). The case, Bertrim v. Tupperware Brands Corporation et al, No. 20-cv-01798 was filed on February 25, 2020.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Tupperware lacked effective internal controls; (2) as a result, Tupperware would need to investigate Fuller Mexico’s accounting and liabilities; (3) consequently, Tupperware would be unable to timely file its annual report on Form 10-K for its fiscal year 2019; (4) Tupperware did not properly account for its accounts payable and accrued liabilities at Fuller Mexico; (5) Tupperware provided overvalued earnings per share guidance; (6) Tupperware would need relief from its $650 million Credit Agreement; and (7) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

Specifically, on February 24, 2020, after market hours, Tupperware issued a press release announcing that the Company would “file a Form 12b-25 Notification of Late Filing with the Securities and Exchange Commission to provide a 15-calendar day extension within which to file its Form 10-K for the fiscal year ended December 28, 2019”.

On this news, Tupperware’s stock price fell from $5.72 per share on February 24, 2020 to a closing price of $3.11 on February 25, 2020-a $2.61 or 45.63% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Tupperware’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54239

UGE Announces Q1 2020 Updates as Global Solar Experience Tops 400 MW

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Toronto, Ontario–(Newsfile Corp. – April 8, 2020) – UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) (the “Company” or “UGE”), a leader in commercial and community solar energy solutions, is pleased to announce that its global solar experience has surpassed 400MW, as one of many milestones reached in Q1 2020.

The following summarizes the Company’s milestones and other updates from Q1 2020. The Company experienced the strongest quarter in its history for new Confirmed Orders, driving a 50% growth in Company backlog, which now exceeds USD$45 million.

US Market

UGE’s US market continued to experience increased activity in Q1 2020. For projects in deployment, UGE reached final completion on a 100kW system in Long Island, New York, as well as mechanical completion on a 130kW project in Montvale, New Jersey. A second Montvale project is nearing the same milestone, which will be completed in Q2 2020.

Meanwhile, UGE confirmed eight new projects in the US, with an estimated project value of over USD$20 million. This was highlighted by UGE’s recent announcement, which included an agreement to develop, build, and finance its largest US project yet, a community solar project in Westchester, NY.

UGE also announced that it closed project financing for two New York-based projects. Interested New York City-based energy users are able to subscribe to the projects through the following URL: www.ugei.com/community-solar-marketplace.

Philippines Market

UGE’s momentum in the Philippines continued, as well. The Company reached final completion on four projects totaling 1.4MW, and substantial completion on two projects, both of which are expected to reach final completion by the end of Q2 2020.

UGE’s wholly-owned subsidiary, UGE Philippines, also signed agreements for two new projects in Q1 2020. The clients were Cebu Institute of Technology University, for a 97 kW solar energy system, and Lite Port Properties Inc., for a 200 kW project at a commercial mall complex in Bohol.

Engineering and Consulting Services

Meanwhile, UGE’s consulting division, “UGEngineering”, completed several assignments, both for external clients and UGE’s US and Philippines project development subsidiaries. The division completed assignments for three external clients, including Issued for Construction drawings for 18MW of projects in New York State and front end project engineering design in Ontario. In Q2 2020, the division looks to complete assignments for its first project located in California, repowering projects in Ontario, and microgrid projects in Africa, as well as the increasing list of projects for UGE’s US and Philippines subsidiaries.

UGE International

At the corporate level, UGE celebrated the 400MW milestone by recording its strongest quarter ever for Confirmed Orders at over USD$20 million, and estimates that its project backlog is now between USD$45-50 million. The Company also neared closure of its Canadian EPC subsidiary as creditors voted to accept UGE Canada RE Ltd’s proposal on February 14, 2020. Because of COVID-19, the court’s approval of the Proposal has been pushed back to a later date, to be determined. The Company also will release its 2019 audited financial statements before the end of April 2020.

Lastly, the Company continues to manage through the ramifications of COVID-19. Although construction progress has slowed based on local restrictions, each of the Company’s subsidiaries have proactively taken steps to temporarily decrease spending and will focus on accelerating schedules once such local restrictions are lifted. New project development continues at a rapid pace, as demonstrated by the significant number of new projects won in recent weeks. UGE expects to move several of these new projects into the construction phase before the end of the year.

About UGE International Ltd.

UGE delivers immediate savings to businesses through the low cost of solar energy. We help commercial and industrial clients become more competitive by providing low cost distributed renewable energy solutions at no upfront cost and maximum long-term benefit. With over 400MW of global experience, we work daily to power a more sustainable world. Visit us at www.ugei.com.

For more information, contact:
+1 917 720 5685
investors@ugei.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54237

Japan Gold Announces Positive Results from Geophysical Surveys at the Ohra-Takamine Gold Project

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Vancouver, British Columbia–(Newsfile Corp. – April 8, 2020) – Japan Gold Corp. (the “Company“) (TSXV: JG) (OTCQB: JGLDF) is pleased to announce encouraging results from geophysical work programs completed at its Ohra-Takamine Gold Project in southern Kyushu. Comprehensive programs completed during January and February, 2020 covered a substantial portion of the 8-kilometer Ohra-Takamine historic mine corridor and included controlled source audio-frequency magnetotellurics (“CSAMT”) and detailed ground-gravity geophysical surveys.

Highlights:

  • A 35 line-kilometer, grid-based, CSAMT geophysical survey was completed along a 4.2 kilometer portion of the Ohra-Takamine Mine corridor
  • The CSAMT geophysical survey at the Ohra-Takamine Project was undertaken to identify zones of sub-surface electrical resistivity and conductivity, representing silicification and clay alteration related to epithermal vein systems
  • Results of the CSAMT survey at Ohra-Takamine are very encouraging and have defined a number of linear kilometric-scale, contiguous resistive zones (CSAMT anomalies), locally extending to depth across the survey area
  • Prospect-scale gravity readings were collected over an 8 by 4 kilometer area with nominal 60 to 100 metre spacings along access roads and ridgelines and merged with Geological Survey of Japan gravity data to produce a new suite of processed gravity images
  • Results of the gravity survey define basement uplift or doming along a northeast oriented structural zone along which the mine corridor is hosted
  • Geophysical surveys completed to date are adding a vital third dimension to the epithermal targets at the Ohra-Takamine Project.

The Ohra-Takamine Gold Prospect lies within the highly gold endowed Southern Kyushu Epithermal Gold Province, and hosts five historic gold mines, the Matsuno, Urushi, Takamine, Ohra, and Aira Yamada Mines, which define a northeast oriented structural corridor, Figure 1. In excess of 11 million ounces of gold has been produced from high-grade low-sulphidation epithermal gold deposits in the province; notable producers include; the Hishikari Mine with 7.8 million ounces of gold produced to date at average grades of 30-40 g/t Au1; Kushikino Mine, 1.8 million ounces at 6.7 g/t Au; Yamagano Mine, 910,000 ounces at 17.4 g/t Au; and the Okuchi Mine with 714,000 ounces at 13.6 g/t Au2,3.

CSAMT Survey

A 35 line-kilometer, grid-based, controlled source audio-frequency magnetotellurics (CSAMT) geophysical survey was completed by Zonge Geophysics Pty. Ltd. during January and February 2020, over a 4.2 kilometer-length of the Ohra-Takamine Mine corridor. The survey comprises 22 individual, north-south orientated CSAMT grid lines varying from 1.5 to 1.8 kilometers in length, spaced 200 metres apart. The grid is staggered along an east-northeast orientation, parallel to the trend of the historic mine corridor and mapped alteration system.

Gravity Survey

Bouguer gravity data was acquired by Haines Surveys Pty. Ltd. during January and February 2020, over an approximate 8 by 4-kilometer area, centred on the Urushi-Takamine-Ohra mine corridor. 973 gravity station readings were acquired at nominal 60 to 100 metre spacings along access roads and ridgelines and merged with gravity data from the Geological Survey of Japan to produce a suite of processed gravity images; including a terrain corrected Bouguer anomaly map, first order trend removed, vertical derivative, Gaussian residual, Hanning filtered residual and horizontal gradient maps.

Conclusions from CSAMT and Gravity Geophysical Surveys

The CSAMT geophysical survey at the Ohra-Takamine Gold Project was undertaken to identify zones of sub-surface electrical resistivity and conductivity, representing silicification and clay alteration respectively, related to epithermal vein systems.

Results of the CSAMT survey at Ohra-Takamine are very encouraging and have defined a number of linear kilometric-scale, contiguous resistive zones (CSAMT anomalies), locally extending to depth across the surveyed area, Figure 2. In the eastern part of the grid, a contiguous, linear resistive zone is defined across multiple sections, coincident and parallel to the trend of mineralisation at the Takamine Mine and extending to the northeast, through and beyond the Ohra Mine. This resistive zone coincides with surface mapped hydrothermal clay alteration, which typically forms above and laterally around the upper portions of large epithermal vein systems. A similar, contiguous resistivity zone commences 600 meters to the east of the Urushi Mine, extending in a westerly direction below the mine to the edge of the CSAMT grid. The resistivity anomalies mapped along the Urushi Mine trend, occur largely below a veneer of younger volcanic ash cover and alluvium. Additional, linear resistivity anomalies have been defined to the north and south of the main mine corridor; their trends are both sub-parallel, and oblique, to the trend of the historical workings in these mines.

The definition of structural architecture and faulting which allows pathways for hydrothermal fluid flow, and subsequent quartz vein formation is a key factor in the interpretation of CSAMT results. With this in mind, detailed gravity surveying was undertaken to further define faulting. Initial findings from gravity show the Urushi, Takamine and Ohra Mines are located on the northwest shoulder of a prominent gravity ridge, Figure 3. The spatial relationship between gravity highs and the major low-sulphidation epithermal gold deposits in the province is well described in the literature, and uplift or doming of the underlying basement, producing gravity anomalies, is interpreted as a key factor in the development of deep-seated fracture pathways for hydrothermal fluid flow, and subsequent quartz vein development in these mines.

In the coming weeks the gravity data collected by the Company will undergo additional processing to contour rapid changes in gravity gradient, providing more definition of the fault architecture related to gold mineralisation.

Soil and Rock Chip Sampling

An extensive 6.4 by 3.3-kilometer grid-based soil sampling program comprising 1,470 soil and 188 rock samples was completed in March 2020 along the mine corridor, and recently dispatched for analysis. The samples will undergo gold and multi-element geochemical assay and spectral clay analysis and will be included in the compilation of a comprehensive geological, geochemical, and geophysical data set. Assay results from the soil and rock chip samples are expected within the next 4 weeks.

Geophysical surveys completed to date are adding a vital third dimension to the epithermal targets at the Ohra-Takamine Project. In the coming weeks, additional structural information from further gravity processing and systematic surface geochemical and alteration maps will provide vectors for ground truthing of anomalies, and refinement of new drill targets.

References

1 Sumitomo Metal Mining Co., LTD. website, production as of end of March 2019.
2 Watanabe Y, 2005. Late Cenozoic evolution of epithermal gold metallogenic provinces in Kyushu, Japan. Mineralium Deposita (2005) 40: pp 307-323
3 Garwin, S.G. et al. 2005. Tectonic setting, Geology, and gold and copper mineralization in the Cenozoic magmatic arcs of Southeast Asia and the West Pacific. Economic Geology 100th Anniversary Vol. pp 891-930

Qualified Person

The technical information in this news release has been reviewed and approved by Japan Gold’s Vice President of Exploration and Country Manager, Andrew Rowe, BAppSc, FAusIMM, FSEG, who is a Qualified Person as defined by National Instrument 43-101.

On behalf of the Board of Japan Gold Corp.

John Proust
Chairman & CEO

About Japan Gold Corp.

Japan Gold Corp. is a Canadian mineral exploration company focused solely on gold exploration across the three largest islands of Japan: Hokkaido, Honshu and Kyushu. The Company has a country-wide alliance with Barrick Gold Corporation to jointly explore, develop and mine certain gold mineral properties and mining projects. The Company holds a portfolio of 30 gold projects which cover areas with known gold occurrences, a history of mining and are prospective for high-grade epithermal gold mineralization. Japan Gold’s leadership team represent decades of resource industry and business experience, and the Company has recruited geologists, drillers and technical advisors with experience exploring and operating in Japan. More information is available at

Figure 1. Ohra-Takamine Gold Project, CSAMT and gravity geophysical survey locations on geology.

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Figure 2.
Ohra-Takamine Gold Project, CSAMT stacked pseudo-sections with mine locations.

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Figure 3.
Ohra-Takamine Gold Project, Terrain corrected Bouguer gravity FOTR image with mine locations.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54261

Benton Informed that Regency Gold Corp. has Completed Name Change to Clean Air Metals

Thunder Bay, Ontario–(Newsfile Corp. – April 8, 2020) – Benton Resources Inc. (TSXV: BEX) (‘Benton’ or ‘the Company’) is pleased to announce that it has been informed that further to its news release dated March 31, 2020, Regency Gold Corp. has now completed its company name change to Clean Air Metals Inc. (“Clean Air”) pursuant to its special meeting of shareholders held on March 31, 2020 and in accordance with the Canada Business Corporations Act. In addition, the listing committee of the TSX Venture Exchange has conditionally accepted Clean Air Metals’ previously announced proposed reverse takeover transaction, subject to certain conditions precedent. The transaction envisions completion of the definitive option agreement, pursuant to which Clean Air Metals will acquire from Benton the option to acquire a 100% interest in each of the Escape Lake property and the TBN property for approximately 24.6 million Clean Air Metals common shares as previously described in the Company’s news release dated January 10, 2020.

Abraham Drost, Clean Air Metals’ CEO, commented, “Shareholder approval for the change of the company’s name to Clean Air Metals Inc. is a watershed moment for the company. The company’s name change, combined with the recent conditional approval of the transaction by the listing committee of the TSX-V, creates a clear path to resumption of trading under the symbol AIR: TSX-V.”

Stephen Stares, President and CEO of Benton, added, “We are pleased to see the team at Clean Air Metals achieve these corporate and regulatory milestones and look forward to final acceptance from the TSX Venture Exchange and the resumption of trading. We feel the significant investment Benton will hold in Clean Air Metals will potentially offer Benton shareholders great value as their team advances these exciting PGE projects. PGE prices remain strong and Clean Air Metals has composed a dynamic team to take advantage of this.”

On behalf of the Board of Directors of Benton Resources Inc.,
“Stephen Stares”

Stephen Stares, President

About Benton Resources Inc.

Benton Resources is a well-funded Canadian-based project generator with a diversified property portfolio in Gold, Silver, Nickel, Copper, and Platinum group elements. Benton holds multiple high-grade projects available for option which can be viewed on the Company’s website. Many projects have an up-to-date 43-101 Report available.

Parties interested in seeking more information about properties available for option can contact Mr. Stares at the number below.

For further information, please contact:
Stephen Stares, President & CEO
Phone: 807-475-7474
Email: sstares@bentonresources.ca

Website: www.bentonresources.ca
Twitter: @BentonResources
Facebook: @BentonResourcesBEX

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.”

Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company’s prospects, properties and business detailed elsewhere in the Company’s disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company’s expectations or projections.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54248

Mosaic Capital Corporation Provides Operational and Liquidity Update and Announces Suspension of Common Share Dividends

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Calgary, Alberta–(Newsfile Corp. – April 8, 2020) – Mosaic Capital Corporation (TSXV: M) (TSXV: M.DB) (“Mosaic” or the “Company“) today provided an operational update on the impact of the novel coronavirus (“COVID-19”) pandemic on its businesses and initiatives the Company has taken to preserve liquidity.

Operations

Following the delivery of record financial performance in 2019, Mosaic benefited from strong operational momentum carrying into the first quarter of 2020 with portfolio results continuing to track ahead of budget. Additionally, Mosaic entered the second quarter of 2020 with a strong balance sheet characterized by approximately $25 million in cash, approximately $30 million available on its ATB credit facility and approximately $15 million available on its subsidiary-level operating credit facilities.

However, the current business environment is unstable and our outlook for the remainder of the year is opaque given the broad economic fallout that is expected from COVID-19 related disruptions. Mosaic senior management has been actively responding to potential operating challenges resulting from COVID-19 with the following:

  • Working with management of our subsidiaries to continuously assess what could be the ultimate impact on each underlying portfolio company;
  • Actively engaging with key customers and suppliers to meet their needs and orders;
  • Adjusting cost structures to prioritize necessary, fixed expenditures over variable and discretionary items;
  • Examining working capital and liquidity needs and preparing a plan to address any areas of concern;
  • Reviewing customer credit metrics and trends using internal and externally available credit tools; and
  • Building contingency plans for our operations as events unfold.

Liquidity and Suspension of Common Share Dividends

While Mosaic has not yet seen a significant degradation in financial results, management believes that maintaining prudent levels of liquidity will be important through this period of considerable uncertainty. In this regard, the Company has initiated the following two-pronged approach to manage liquidity, preserve underlying value and position Mosaic for success in the post-COVID-19 environment:

1) Mosaic’s board of directors has suspended the common share cash dividend effective immediately and will be exploring various alternatives including possible future stock dividends. This initiative will preserve approximately $1.1 million in cash liquidity per quarter.

2) Mosaic is engaging in discussions with its key financial partners regarding potential options to enhance near term liquidity.

“While precise modeling of potential financial outcomes is difficult in the current environment, we believe it is prudent to be as prepared as possible as we enter what could potentially be a challenging period. With Mosaic’s strong 2019 financial results, positive momentum into 2020, active operating approach and an appropriate level of support from our shareholders and financial partners, we are confident that Mosaic will manage the COVID-19 challenge successfully,” commented Mark Gardhouse, President and Chief Executive Officer of Mosaic.

ABOUT MOSAIC CAPITAL CORPORATION

Mosaic is a Canadian investment company that owns a portfolio of established businesses which span a diverse range of industries and geographies. Mosaic’s strategy is to create long-term value for its shareholders through accretive acquisitions, long-term portfolio ownership, sustained cash flows and organic portfolio growth. Mosaic achieves its objectives by maintaining financial discipline, acquiring businesses at attractive valuations, performing extensive acquisition due diligence, utilizing optimal transaction structuring and working closely with subsidiary businesses after acquisition.

FOR FURTHER INFORMATION PLEASE VISIT OUR WEBSITE OR CONTACT:

Cam Deller
Vice President, Corporate Development
Mosaic Capital Corporation
400, 2424 – 4th Street SW
Calgary, AB T2S 2T4

T: (403) 930-6576
E: cdeller@mosaiccapitalcorp.com
www.mosaiccapitalcorp.com

Reader Advisory

Forward-Looking Statements

This news release contains forward-looking information and statements within the meaning of applicable Canadian securities laws (herein referred to as “forward-looking statements“) that involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. All information and statements in this news release which are not statements of historical fact may be forward-looking statements. The words “believe”, “expect”, “intend”, “estimate”, “anticipate”, “project”, “scheduled”, and similar expressions, as well as future or conditional verbs such as “will”, “should”, “would”, and “could” often identify forward-looking statements. Forward-looking statements included in this news release include, but are not limited to:

  • the overall business strategy and objectives of Mosaic;
  • the Company’s ability to adjust cost structures;
  • the exploring of various alternative strategies to common share cash dividends including possible future stock dividends;
  • the broad economic fallout that is expected from COVID-19 related disruptions; and
  • the Company’s ability to successfully manage the impacts on its businesses of the COVID-19 pandemic.

Such statements or information, if any, are only predictions and reflect the current beliefs of management with respect to future events and are based on information currently available to management. Actual results and events may differ materially from those contemplated by these forward-looking statements due to these statements being subject to a number of risks and uncertainties. Undue reliance should not be placed on these forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.

By their nature forward-looking statements involve assumptions and known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other things contemplated by the forward-looking statements will not occur. A number of factors could cause actual results to differ materially from the results stated in the forward-looking statements, including, but not limited to, risks related to: the impacts of the COVID-19 on the economy generally and the Company’s businesses specifically; the pace of recovery following the COVID-19 outbreak cannot be accurately predicted and may be slow; there is no guarantee that monthly dividends on the Company’s dividends will be reinstated, and if reinstated, as to the timing thereof or what the amount of the monthly dividend will be; the suspension of monthly dividends may impact the market price of Mosaic’s publicly-traded securities; the exploring of various alternative strategies to common share cash dividends may not result in any success; general economic and business conditions; the failure to realize the anticipated benefits of Mosaic’s recent and future acquisitions; adverse fluctuations in commodity prices; competition for, among other things, capital, equipment and skilled personnel; the inability to generate sufficient cash flow from operations to meet current and future obligations; the inability to obtain required debt and/or equity capital on suitable terms for both near term and longer term liquidity; competition for acquisition targets; adverse weather conditions; seasonality and fluctuations in results; and limited diversification of Mosaic’s subsidiaries. Should any of the risks or uncertainties facing Mosaic and its subsidiaries materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance, activities or achievements could vary materially from those expressed or implied by any forward-looking statements contained in this news release.

Although Mosaic believes that the expectations represented by any forward-looking-statements contained herein are reasonable based on the information available to them on the date of this news release, management cannot assure investors that actual results, performance or achievements will be consistent with these forward-looking statements. Any forward-looking statements herein contained are made as of the date of this press release and Mosaic does not assume any obligation to update or revise them to reflect new information, events or circumstances, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54260

Crestview: Investor Announcement

Corporate Logo

Calgary, Alberta–(Newsfile Corp. – April 8, 2020) – Crestview Exploration (CSE: CRS) (FSE: CE7) (”Crestview” or the ”Company”) has been made aware by regulators in Canada, that buy recommendations and letters including unsolicited and unfounded forward-looking statements are being circulated by mail in Canada. Crestview advises all investors and potential investors, to properly verify the information provided by any individual and or third parties regarding buy recommendations. These verifications should include namely but not exclusively, verifying all sources, especially if said sources are inducing investors and or potential investors that the Company should be generating profits, while it is still an Exploration Company. Furthermore, the information discussed herein is not emanating directly or indirectly by the Company and should not be construed as such.

For better clarity and to the best of the Company’s knowledge, no Officers and or Directors were involved in disseminating this letter. Crestview has not paid any compensation nor has it requested for this analyst to endorse the Company nor its stock.

Investors can visit the Crestview website for up-to-date information pertaining to the Company and its mining assets.

About Crestview Exploration Inc:

The Rock Creek Project is a volcanic and sediment-hosted, epithermal precious metal property, which is adjacent to mines with historical production, situated in the Tuscarora Mountains of northern Elko County, Nevada. Together the property comprises 74 unpatented lode mining claims. The Tuscarora Mountains host the northern end of Carlin-trend mineralization, a cluster of major, large gold deposits.

For further information please contact:

Glen Watson, Chief Executive Officer
Tel: 1-604-803-5229
Email: Glen@crestviewexploration.com
www.crestviewexploration.com

Forward-Looking Information

This news release includes certain information that may be deemed “forward-looking information” under applicable securities laws. All statements in this release, other than statements of historical facts, that address acquisition of the Property and future work thereon, mineral resource and reserve potential, exploration activities and events or developments that the Company expects is forward-looking information. Although the Company believes the expectations expressed in such 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 statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include the results of the Company’s due diligence investigations, market prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company’s public filings at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54265

Sterling Deadline Alert: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 in Sterling Bancorp, Inc. to Contact the Firm

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New York, New York–(Newsfile Corp. – April 8, 2020) – Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”) of the April 27, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

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If you invested in Sterling stock or options between November 17, 2017 and December 8, 2019 and would like to discuss your legal rights, click here: www.faruqilaw.com/SBT. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com

Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the Eastern District of Michigan on behalf of all those who purchased Sterling common stock between November 17, 2017 and December 8, 2019 (the “Class Period”). The case, Oklahoma Police Pension and Retirement System v. Sterling Bancorp, Inc. et al., No. 2:20-cv-10490 was filed on February 26, 2020 and has been assigned to District Judge Arthur J. Tarnow.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements about the Company’s loan underwriting, risk management and internal controls, including repeatedly touting its strict underwriting, asset quality and the Advantage Loan Program.

On June 21, 2019, after the market closed, Sterling filed a Form 8-K signed by Board Chairman and CEO Thomas Lopp which disclosed that director Jon Fox, who served on the Audit and Risk Management Committee, had resigned from Sterling’s Board, effective immediately. Fox was replaced by Tom Minielly, who would also serve on the Audit and Risk Management Committee (only to resign six months later on December 19, 2019). The Company tried to temper the news, further stating in the 8-K: “Mr. Fox’s retirement and resignation was not due to any disagreement on any matter relating to the Company’s operations, policies or practices.”

On this news, the Company’s stock price fell from $10.06 per share on June 21, 2019 to $9.90 per share on June 24, 2019: a $0.16 or 1.59% drop.

Then, on December 9, 2019, the Company filed a Form 8-K disclosing that it was suspending its Advantage Loan Program due to an internal review of documentation on past loans. Specifically, the Form 8-K disclosed:

On December 9, 2019, Sterling Bank and Trust, FSB, Southfield, Michigan (the “Bank”), a wholly-owned subsidiary of Sterling Bancorp, Inc. (the “Company”) voluntarily and temporarily suspended its Advantage Loan program in connection with an ongoing internal review of the program’s documentation procedures. Management believes it is prudent to temporarily halt the program as it continues to audit documentation on past loans and puts in place additional systems and controls to ensure the Bank’s policies and procedures are followed on loans originated under the program. It is the Company’s intention to resume the Loan Program as soon as management is confident its stated policies and procedures are being followed. However, it is presently difficult to estimate how long this suspension might last. The Advantage Loan Program is a material component of the Bank’s total loan originations. While it is difficult to quantify the financial impact of the program’s temporary suspension, management anticipates a reduced level of near-term loan originations, slower overall loan portfolio growth, and less loan sales.

On this news, the Company’s stock price fell from $9.45 per share on December 6, 2019 to $7.29 per share on December 9, 2019: a $2.16 or 22.86% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Sterling’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54238

San Marco Completes Phase 1 Drilling at Buck Property, Central BC

Vancouver, British Columbia–(Newsfile Corp. – April 8, 2020) – San Marco Resources Inc. (TSXV: SMN) (“San Marco”) is pleased to announce that the previously announced Phase I diamond drilling program (March 17, 2020) has been completed at its 100% optioned gold/silver/zinc Buck property in north-central B.C.

The 1,806 metre drill program was centered in an area of historic mineralization and consisted of a total of five holes, with three collared in the Horseshoe Zone and two approximately 300 metres to the northwest in the Adit Zone (see Figure 1).

Highlights of the Phase I drill program include:

  • All five holes intersected mineralization from surface.
  • Three of the five holes intersected mineralization to depths in excess of 400 metres, which is approximately 150 metres below historic drilling depths.
  • Mineralization is hosted in highly altered and fractured volcanic breccias as disseminations, veins/veinlets, and mineralized fractures.
  • Initial logging suggests a large, highly altered gold/silver/zinc volcanic breccia system, open in all directions.

Drill hole locations are set out below in Table 1.

Hole ID Easting Northing Azimuth Dip Length (m)
BK20-001 654649 6019613 45o -55o 467
BK20-002 654625 6019637 30o -55o 431
BK20-003 654596 6019937 225o -45o 164
BK20-004 654593 6019934 180o -65o 296
BK20-005 654824 6019867 215o -50o 448
Total Length (m) 1806

Table 1. Phase I Drill Hole Locations at the Buck Property

The drill core samples are being processed by ALS Chemex in North Vancouver and results will be announced when available.

San Marco’s Executive Director, Bob Willis, commented “We are very excited to have completed our initial drill program at Buck. We look forward to analyzing the results and receiving assays, which will help guide planning of Phase II exploration. I thank the entire team for diligently completing this drill program ahead of schedule and on budget. During this time of COVID-19 awareness, I especially thank the front-line team of Coast Mountain Geological and JT Thomas Drilling, who operated under strict COVID-19 protocols and completed the program in a safe and healthy manner.”

Industry best practices were used for defining a QA/QC program where 5% of the sampling stream was controlled by industry recognized certified reference material (CRM’s) and blanks. When necessary, an additional 5% of QA/QC in the form of pulp and coarse reject duplicates were selected for laboratory verification. The drill core was mapped and logged in detail by geologists utilizing a logging approach designed by senior technical managers.

About San Marco

San Marco is a Canadian mineral exploration company actively pursuing world class gold, silver, zinc and copper projects with a focus in mining friendly jurisdictions in both British Columbia, Canada and Mexico.

The Company’s principal focus and asset is the recently optioned Buck Property in north-central British Columbia that has large tonnage gold-silver-zinc potential in a mining-friendly region that includes many former and current operating mines. In addition, the Company’s portfolio includes the several prospective, early stage exploration properties in Mexico.

San Marco is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.

For further information, contact:

Sharyn Alexander, M.Sc.
VP Technical Services

Nancy Curry
Corporate Communications

info@sanmarcocorp.com
www.sanmarcocorp.com

National Instrument 43-101 Disclosure

This news release has been approved by San Marco’s Executive Director, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has verified the data disclosed, including sampling, analytical and test data, underlying such technical information by reviewing the data and reports from previous exploration of the property which he believes to be accurate and were provided to San Marco by the optionors.

Forward Looking Information

Information set forth in this document may include forward-looking statements. While these statements reflect management’s current plans, projections and intents, by their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the control of San Marco Resources Inc. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on these forward-looking statements. San Marco’s actual results, programs, activities and financial position could differ materially from those expressed in or implied by these forward-looking statements.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54236