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Masan High-Tech Materials to forge a strategic alliance with Mitsubishi Materials: MMC to invest US$90 million for a 10% stake in MHT

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HO CHI MINH CITY, VIET NAM –  Media OutReach – 26 October 2020 –  Masan High-Tech Materials Corporation (“MHT” or the “Company”) signed definitive agreements to establish a strategic alliance in the tungsten industry with Mitsubishi Materials Corporation (“MMC”) with the objective of developing a leading, high-tech tungsten materials platform.

[View Image]

Modern plant line of Masan High-Tech Materials in Vietnam

As part of the strategic alliance, MMC will buy 109,915,542 newly issued ordinary shares via a private placement for a total cash consideration equivalent to US$90 million.

MHT’s chemical processing plant at Nui Phao polymetallic mineral mine


On completion of the transaction, MMC will own 10 per cent of the share capital of the Company and become the second largest shareholder.

After the transaction is completed, the parties will discuss developing a separate business unit to strengthen and unlock the synergies between their respective mid-stream tungsten platforms.

The ability to offer cutting edge solutions to customers and the strategic flexibility of being integrated across the value chain is a critical factor in delivering sustainable growth, and will continue to be a critical factor in the tungsten space.

MHT prides itself on delivering constantly improving and innovative product offerings. MHT is one of the only tungsten platforms that benefits from consistent supply of primary (concentrates) and secondary raw (recycled) materials that are then further processed into the finest quality oxides, powders, carbides, and chemicals. The success of MHT is underpinned by a combination world-class research and development with dedicated applications engineers who have a track record of delivering fine-tuned specifications to meet end customers’ evolving demands.

Post the H.C Starck (HCS) acquisition, a leading global mid-stream tungsten business, in June this year, MMC’s participation as a strategic partner is a validation of management’s transformation into a vertically integrated high-tech tungsten platform. MMC will add significant value as a strategic partner, and through the partnership the parties will be positioned to develop cutting-edge solutions for end customers that will accelerate growth, including:

1.     Establishing opportunities for joint collaboration and investment in revolutionary research and development of key technologies to enhance the parties’ respective high-tech tungsten portfolio;

2.     Enhancing the ability of both MMC and MHT to provide industry-leading quality and performance in their high-tech tungsten products going forward; and

3.     Strengthening the sales network in the Asia Pacific, which will broaden the consumption of MHT’s fine powders in the region.

Craig Bradshaw, Chief Executive Officer of MHT, said: “I am extremely proud that we are starting to realise our strategic vision. Forging a strategic alliance with MMC will certainly accelerate our vision to become an end-to-end global high-tech industrial materials platform. Our customers will benefit the most as this partnership will strengthen our capabilities to supply quality and innovative products and solutions.


“The alliance also positions MHT and HCS to build a mid-stream tungsten Asian franchise, which is the missing piece of our strategic puzzle. I am extremely excited and looking forward to developing a long-term, win-win partnership with MMC.

Makoto Shibata, Director and Chief Financial Officer of MMC, said: “We have set the tungsten business including the cemented carbide tool business to be one of the major pillars of our growth strategy. I am excited about the new collaboration which our investment in MHT will create and it will have a significant impact on our future.

Credit Suisse acted as the exclusive financial advisor to MHT.

The closing of the strategic investment is subject inter alia to certain regulatory approvals (including governmental approvals in Vietnam) and MHT shareholders’ approval.

 

CONTACTS

Investors/Analysts

Tanveer Gill

T: +84 28 6256 3862

E: [email protected]


Media

Ngan Vo

T: +84 989 363 769

E: [email protected]

ABOUT MASAN HIGH-TECH MATERIALS CORPORATION

Masan High-Tech Materials (MHT) is a subsidiary of Masan Group. The company, a leading supplier of critical minerals including tungsten, fluorspar and bismuth, is currently operating a world-class polymetallic mineral resource and chemical processing plant in northern Vietnam. Masan High-Tech Materials is also a leading international supplier of refractory technology metals to growth industrial sectors such as electronics, chemicals, automotive, medical technology, aviation and aerospace, energy and environmental technology from its own production locations in Europe, America and Asia. Masan High-Tech Materials’ vision is to show the world that a Vietnamese company can lead the transformation of the global tungsten market.

ABOUT MITSUBISHI MATERIALS CORPORATION

Mitsubishi Materials Group is an “integrated materials manufacturer.” Mitsubishi Materials Group meets customers’ needs by providing such basic materials as copper and cement. Mitsubishi Materials Group also manufactures and sells mechanical parts, electronic materials and components used in automobiles, home appliances etc., as well as the tools used to make them. Mitsubishi Materials Group is also involved in recycling and the energy business.

 

Mitsubishi Materials Group, under the corporate philosophy of “For People, Society and the Earth,” pursues the vision of “We will become the leading business group committed to creating a sustainable world through materials innovation, with the use of our unique and distinctive technologies, for People, Society and the Earth.” Going forward, Mitsubishi Materials Group will continue to build a richer society by making unique materials that meet customers’ needs and providing processing solutions best suited to each customer.

 

Forward-looking statements

This press release contains forward-looking statements regarding Masan High-Tech Materials’ expectations, intentions or strategies that may involve risks and uncertainties. These forward-looking statements, including Masan High-Tech Materials’ expectations, involve known and unknown risks, uncertainties and other factors, some of which are beyond Masan High-Tech Materials’ control, which may cause High-Tech Materials’ actual results with respect to operations, financial condition, performance, or achievements to be materially different from those expressed or implied by the forward-looking statements. You should not rely upon forward-looking statements as predictions, future events or promises of future performance.

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Khiron Reports Third Quarter 2020 Financial Results

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  • Company surpassed 5,600 patient prescriptions for its medical cannabis products in Colombia. Prescriptions filled increased over 450% in Q3 2020 over Q2 2020
  • Khiron declared a National Strategic Project by the Government of Colombia, simplifying and accelerating administration and processes for the Company in executing strategic projects in Colombia and for export
  • Subsequent to the quarter, the Company completed a bought deal financing on November 26, 2020, selling 32,200,000 units at a price of $0.45 per unit for aggregate gross proceeds of $14,490,000 CAD
  • Khiron signed partnerships with 15 clinics and health centres in Colombia, extending education and sales reach further across the country
  • As a result of the Company's Doctor ZereniaTM telehealth platform more than 25% of the Company's medical cannabis prescriptions came from outside of Bogota, expanding geographic presence of its Colombian clinics
  • Company achieved first sales of High CBD medical cannabis through private pharmacies in Peru. Additional approval received from Peru's drug regulatory authority for Company's High THC cannabis, with first prescriptions anticipated in Q1 2021
  • Expanded medical cannabis E-Learning platform to UK market in partnership with Medical Cannabis Clinicians Society (“MCCS”)
  • Entered an exclusive partnership with Rappi SAS, Latin America's largest home multi-vertical app platform to distribute the Company's CPG product portfolio, introducing Kuida products to Rappi users across the LatAm region
  • Signed agreement to distribute the Company's KuidaTM CBD skincare brand through pharmacy, beauty retail and online markets serving the Hong Kong territory, with first orders expected in Q4 2020
  • Prudent cash use of $5 million in Q3 2020, compared with $4 million in Q2 2020, $12 million in Q1 2020 and $10 million in Q4 2019

TORONTO, Nov. 30, 2020 /PRNewswire/ – Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN), (OTCQX: KHRNF), (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe, announced today its financial results for the quarter ended September 30, 2020. These filings are available for review on the Company's SEDAR profile at www.sedar.com All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.

Summary of Key Quarterly Financial Results

Canadian dollars

3 Months
ended Sept
30 2020

3 Months
Ended Sept 30
2019

9 Months
ended Sept
30 2020

9 Months
Ended Sept 30
2019

$

$

$

$

Revenues ('000s)

1,928

2,773

5,499

7,072

Gross profit before fair value adjustments ('000s)

323

593

1,079

1,388

General and administrative costs ('000s)

(5,341)

(4,330)

(15,719)

(12,264)

Net loss ('000s)

(6,715)

(10,621)

(21,665)

(28,143)

Adjusted EBITDA (1) ('000s)

(4,706)

(5,438)

(14,426)

(18,162)

Net loss per share (basic and diluted)

(0.06)

(0.09)

(0.19)

(0.29)

Weighted average shares outstanding ('000s)

117,644

113,997

116,937

97,448

1.

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization or in this case loss) is a non-IFRS measure calculated as net loss before tax as reported under International Financial Reporting Standards and adding back share-based compensation, fair value adjustments on biological asset, transaction fees, depreciation, interest expense and non-recurring items. Refer to the Company's MD&A for a reconciliation.

Discussion of Operations for the Three Months Ending September 30, 2020
The Company recorded a net loss of $6.7 million in the third quarter of 2020. This compares to a net loss of $10.6 million in the prior year third quarter. On an adjusted EBITDA basis Q3 2020 was a $4.7 million loss compared to the adjusted loss of $5.4 million in Q3 2019 (see Adjusted EBITDA for calculation).

Q3 2020 and the impact of COVID-19 – starting in March 2020, the Company's health centres experienced a decline in patient visits due to the Colombian government's strict quarantine regulations which required the Company to limit the number of patient visits and suspend surgeries. During Q3 2020, following the launch of teleconsultation services in April 2020 and the resumption of surgeries in May 2020, the number of patient services increased and have now surpassed levels observed at the beginning of the year, including complex services such as surgeries. The Company experienced a 12% increase in service revenues from Q2 2020. The Company experienced a 34% decline in service revenues in Q3 2020 compared to Q3 2019. The Company has maintained the cost cutting measures implemented during the second quarter.

Throughout Q3 2020, the Company sold increasing levels of both low- and high-THC medical cannabis through its health centres in Colombia and pharmacy partners. Revenue contributions were $0.1 million in the quarter, a 514% increase from Q2 2020 as prescriptions and sales accelerated on a weekly basis. Cultivation is increasingly focused on growing for commercial sales purposes and less on research and development. In Q3 2020, the Company capitalized $0.3 million in operating costs to inventory and recorded its fair value gain on biological assets of $0.6 million.

Management Commentary
“We have remained fully focused on our sales execution strategy in Q3, while continuing to prudently manage our cash position. Despite the significant impact of the global COVID-19 pandemic we have been able to advance across key sales metrics with our Colombian clinic services returning to pre-pandemic levels of 9,500 monthly consultations and surpassing 5,600 Khiron medical cannabis prescriptions filled. We welcome the rapid adoption of our Doctor ZereniaTM telehealth services which accounted for 55% of prescriptions through the end of October, including 25% from outside of Bogota. These are significant advancements in our Colombian business and provide us with proprietary data and experiences that we can adopt as we increase revenue opportunities and utilize towards improving the quality of lives of patients in Latin America,” comments Alvaro Torres, Khiron CEO and Director.

Webcast and Q&A
Khiron invites individual and institutional investors, as well as advisors and analysts, to attend a webcast and Q&A to discuss the Company's Q3 2020 financial statements and further activities.
DATE: Tuesday, December 1, 2020
TIME: 10:00am EST/7:00am PST
PRESENTERS: Alvaro Torres, CEO and Director, Joel Friedman, CFO, and Chris Naprawa, Chairman
FORMAT: Live 20 minutes presentation and Q&A session
REGISTER LINK: https://event.on24.com/wcc/r/2819768/9328DB919FFBB024F2CF5F4F5119285E

About Khiron Life Sciences Corp.
Khiron is a vertically integrated medical and CPG cannabis company with core operations in Latin America, and operational activity in Europe and North America.  Khiron is the leading cannabis company in Colombia and the first company licensed in Colombia for the cultivation, production, domestic distribution, and international export of both low and high THC medical cannabis products. The Company has presence in Mexico, Peru, Uruguay, Brazil, UK, Spain and Germany, where it is positioned to begin sales of medical cannabis.

Leveraging its first-mover advantage, and patient oriented approach, Khiron combines global scientific expertise, product innovation, agricultural infrastructure, wholly-owned medical clinics, and online doctor education programs to drive prescription and brand loyalty to address priority medical conditions. Its Wellbeing unit launched the first branded CBD skincare brand in Colombia, with KuidaTM now marketed in multiple jurisdictions in Latin America, the US and UK. The Company is led by Co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and Board of Directors.

Visit Khiron online at www.khiron.ca, investors.khiron.ca and on Instagram @khironlife.

Cautionary Notes

Forward-Looking Statements

This press release may contain certain “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Khiron undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Khiron, its securities, or financial or operating results (as applicable). Although Khiron believes that the expectations reflected in forward-looking statements in this press release are reasonable, such forward-looking statement has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Khiron's control, including the risk factors discussed in Khiron's Annual Information Form which is available on Khiron's SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. Khiron disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

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

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/khiron-reports-third-quarter-2020-financial-results-301181960.html

SOURCE Khiron Life Sciences Corp.

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Global Insurance Symposium Returns to Showcase Industry Trends & Future

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DES MOINES, Iowa, Nov. 30, 2020 /PRNewswire/ — The Global Insurance Symposium (GIS) announced its 2021 conference will be held on April 26–28. This event will host insurance professionals from around the world and will feature an extensive slate of dynamic panel discussions led by preeminent executives and dignitaries, interactive demonstrations of new technologies and opportunities for attendees to help shape the future of the industry.

Organizers will determine at the beginning of 2021 if the GIS will be a virtual, hybrid or in-person event at the Community Choice Credit Union Convention Center in Downtown Des Moines.

Presented by the Greater Des Moines Partnership, the Iowa Insurance Division, the Iowa Economic Development Authority and Iowa insurance firms, the event's host city boasts the highest concentration of insurance employment among metros in the United States. Since its inception in 2014, GIS has had thousands of attendees from 13 countries participate.

Des Moines is an insurance hub with nearly 80 insurance companies headquartered here and more than 200 insurance companies statewide,” said Jay Byers, CEO of the Greater Des Moines Partnership. “Whether the Global Insurance Symposium is held in-person, virtually or by a hybrid model, convening InsurTech and FinTech leaders and innovators will spur new ideas, collaborations and the sharing of best practices to help shape the future of insurance.”

The three-day symposium will offer opportunities for attendees to learn about insurance trends from state insurance commissioners, industry leaders, entrepreneurs and regulatory representatives, as well as network and explore avenues for growth with peers, both domestic and international.

Iowa Insurance Commissioner Doug Ommen noted, “This is a must-see event for those in or around the insurance industry. Whether you are a leader at an insurer, an interested regulator or an entrepreneur with a startup, there is something for everyone. The 2021 Global Insurance Symposium will help position leaders in the industry to meet current and upcoming challenges.”

In preparation for the 2021 Symposium, organizers are monitoring health guidelines and safety concerns as well as utilizing The Partnership's COVID-19 Rapid Response Hub and DSM Forward playbooks.

For more information, including forthcoming registration dates (early 2021) and the format of the 2021 Global Insurance Symposium, as well as sponsorship opportunities, please visit: globalinsurancesymposium.com.

Media Registration:
Members of the media are invited to attend the Global Insurance Symposium. To inquire, please contact Jon Lieb at [email protected].

About the Global Insurance Symposium:
Since its inception in 2014, the Global Insurance Symposium has hosted thousands of leading insurance and financial service professionals and regulatory authorities. During the GIS three-day event, attendees hear from the world's most renowned insurance experts and interact with fellow insurance industry colleagues from around the globe. The Global Insurance Symposium is presented by the Greater Des Moines Partnership, the Iowa Insurance Division, the Iowa Economic Development Authority and Iowa insurance firms. For more information, please visit globalinsurancesymposium.com.

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SOURCE Global Insurance Symposium

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ERF Wireless, Inc. Announces Delay in Effective Date of a Name Change and Reverse Split of Its Common Stock

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DALLAS, Nov. 30, 2020 /PRNewswire/ — ERF Wireless, Inc. (OTC PINK: ERFB) The Board of Directors announced today that the regulatory approval of the Company's name change to Zona Holdings, Inc. and the reverse split of its common stock has been delayed.  Additional information and a new effective date will be provided as soon as they are available.

About ERF Wireless, Inc.:

ERF Wireless, Inc. (www.erfwireless.com), founded in 2004 as a “Critical Communications Infrastructure Company”, has long been associated with the energy sector by and through its provision of wireless internet and other services in the exploration, drilling, and production phases of oil and gas.  All financials associated with the wholly-owned Zona Resources, Inc. oil and gas operations will be consolidated into the public ERF Wireless, Inc. holding company financials and would be expected be reflected in its common stock valuation for its public stockholders.

Forward Looking Statements: 

This press release contains forward-looking statements that involve numerous risks and uncertainties. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “potential,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in the Company's filings with OTC Markets.

Cision View original content:http://www.prnewswire.com/news-releases/erf-wireless-inc-announces-delay-in-effective-date-of-a-name-change-and-reverse-split-of-its-common-stock-301181954.html

SOURCE ERF Wireless, Inc.

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
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