Ryan Tannehill or Alex Smith: which QB is the better play in Week 11?
Ryan Tannehill or Alex Smith: which QB is the better play in Week 11?
We hereby announce that election of an employee representative to the board of directors of Gabriel Holding A/S was held on 30 November 2020. Sales Supporter in Customer Service, Quinten Van Dalm, has been re-elected as employee representative on Gabriel Holding A/S' board of directors for a 4-year period with appointment immediately after the company's annual general meeting on 10 December 2020. Attachment * Gabriel Holding AS - Announcement no 17 - Election of employee representative for the board of directors
Online reviews are an excellent way for property owners to get feedback on their vacation rentals. Reviews from past guests -- especially five-star ones -- are one of the best ways to attract new renters and keep your rental booked all season. A review aggregator can make a world of difference in your vacation property bookings.
PARIS, Dec 1 (Reuters) - "Chez Francoise" is a discreetly located venue near the French parliament whose visitors' book boasts signatures from former leaders including Nicolas Sarkozy and Francois Hollande. In late September, as a second wave of COVID-19 infection loomed, government scientific advisers wanted new restrictions on bars, restaurants and cafes. Fearing his business would suffer, Pascal Mousset, who owns Chez Francoise and four other restaurants in the French capital, decided to seek help from an old contact.
Angelo Ogbonna has hailed his manager David Moyes for transforming West Ham and taking them to fifth in the Premier League. Goals from the Italian defender and Jarrod Bowen saw the Hammers move to within one point of the Champions League places with a 2-1 win over Aston Villa last night. West Ham rode their luck in the second half and Villa striker Ollie Watkins missed a penalty before having an injury-time equaliser ruled out, after Ogbonna had pushed him into an offside position and the challenge was missed by VAR.
Verkkokauppa.com Oyj MANAGERS’ TRANSACTIONS December 1, 2020 at 14:00 EETVerkkokauppa.com Oyj - Managers' Transactions – SeikkuTransaction notification under Article 19 of EU Market Abuse Regulation.Person subject to the notification requirement Name: Seikku, Kai Position: Member of the Board ____________________________________________Issuer: Verkkokauppa.com Oyj LEI: 743700QZE6B52SHHTV75Notification type: INITIAL NOTIFICATION Reference number: 743700QZE6B52SHHTV75_20201201113146_13 ____________________________________________Transaction date: 2020-11-30 Instrument type: SHARE ISIN: FI4000049812 Nature of the transaction: ACQUISITIONTransaction details (1): Volume: 1,000 Unit price: 5.9800 EUR(2): Volume: 1,000 Unit price: 5.9800 EUR(3): Volume: 3,000 Unit price: 5.9800 EUR(4): Volume: 924 Unit price: 5.9900 EUR(5): Volume: 833 Unit price: 5.9900 EUR(6): Volume: 587 Unit price: 5.9900 EUR(7): Volume: 254 Unit price: 5.9800 EUR(8): Volume: 746 Unit price: 5.9800 EUR(9): Volume: 633 Unit price: 5.9700 EUR(10): Volume: 954 Unit price: 5.9700 EUR(11): Volume: 909 Unit price: 5.9700 EUR(12): Volume: 156 Unit price: 5.9700 EUR(13): Volume: 704 Unit price: 5.9700 EUR(14): Volume: 534 Unit price: 5.9800 EUR(15): Volume: 534 Unit price: 5.9800 EUR(16): Volume: 255 Unit price: 5.9800 EUR(17): Volume: 599 Unit price: 5.9800 EUR(18): Volume: 11 Unit price: 5.9800 EUR(19): Volume: 612 Unit price: 5.9800 EUR(20): Volume: 1,224 Unit price: 5.9800 EUR(21): Volume: 1,224 Unit price: 5.9800 EUR(22): Volume: 330 Unit price: 5.9800 EUR(23): Volume: 20 Unit price: 5.9800 EUR(24): Volume: 68 Unit price: 6.0200 EUR(25): Volume: 250 Unit price: 6.0200 EUR(26): Volume: 139 Unit price: 6.0200 EURAggregated transactions (26): Volume: 17,500 Volume weighted average price: 5.98047 EURFor more information: Mikko Forsell, CFO firstname.lastname@example.org Tel. +358 10 309 5555DISTRIBUTION: Nasdaq Helsinki Principal media www.verkkokauppa.comVerkkokauppa.com in shortVerkkokauppa.com is Finland’s most popular and most visited Finnish online retailer, with the aim to sell to products to its customer at probably always cheaper prices. Depending on the season, the Company markets, sells, and distributes some 60,000–70,000 products in 26 different main product categories through its webstore, retail stores, and network of pick-up points. The Company has four megastores: in Oulu, Pirkkala, Raisio, and Helsinki, in addition to which products can be collected at more than 3,000 pick-up points. Verkkokauppa.com was founded in 1992 and it is headquartered in Jätkäsaari, Helsinki. The Company’s shares are listed on the official list of Nasdaq Helsinki under the ticker symbol VERK.
Center-run study published in Pediatric Transplantation demonstrates the utility of AlloSure for identifying allograft rejectionSOUTH SAN FRANCISCO, Calif., Dec. 01, 2020 (GLOBE NEWSWIRE) -- CareDx, Inc. (Nasdaq: CDNA), a leading precision medicine company focused on the discovery, development, and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients and caregivers, announced the results from the first publication on the use of AlloSure in pediatric kidney transplant patients. The paper titled Donor-Derived Cell Free DNA (dd-cfDNA) for detection of Allograft Rejection in Pediatric Kidney Transplants was published by physicians from Cedars Sinai Medical Center and the University of Texas at Houston in the journal Pediatric Transplantation. This is the first publication on dd-cfDNA for pediatric patients, demonstrating the value of AlloSure to manage this high-need population. The study included 67 patients tested between October of 2017 and October of 2019 who underwent initial testing with AlloSure as part of routine monitoring or in response to clinical suspicion for rejection.“The conclusions of our study showed that AlloSure represents a non-invasive method for early detection of rejection in pediatric renal transplants,” said Dr. Dechu Puliyanda, the paper’s main author. “AlloSure is also highly predictive of histological rejection and superior to other indicators such as graft dysfunction or antibody positivity alone.”“We are glad to support transplant centers who manage pediatric patients, where long term outcomes become even more critical as these young recipients will likely need multiple transplants throughout their lives,” said Sham Dholakia, Senior Vice President, Medical Affairs and Clinical Operations for CareDx. “CareDx is dedicated to transplant patient care, and this recent publication expands the evidence for broad use in clinical management.”About CareDx CareDx, Inc., headquartered in South San Francisco, California, is a leading precision medicine solutions company focused on the discovery, development and commercialization of clinically differentiated, high-value healthcare solutions for transplant patients and caregivers. CareDx offers testing services, products, and digital healthcare solutions along the pre- and post-transplant patient journey, and is the leading provider of genomics-based information for transplant patients. For more information, please visit: www.CareDx.com.CONTACTS:CareDx, Inc. Sasha King Chief Marketing Officer 415-287-2393 email@example.comInvestor Relations Greg Chodaczek 646-924-1769 firstname.lastname@example.org
The Addition of Nine More Core Countries Reflects Company’s Response to Customer GrowthNEW YORK and LONDON, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Leading global payroll provider CloudPay today announced the addition of nine more core countries to its managed services solution. While some other global providers claim to process payroll in-house, few include core countries beyond the U.S., U.K. and Canada. CloudPay has once again expanded its core countries coverage (often referred to as “in-house” countries), with the inclusion of Argentina, Colombia, Costa Rica, India, Malaysia, Mexico, South Korea, Taiwan and Vietnam. Josep Elias, Chief Strategy Officer for CloudPay, explained, “CloudPay is different from other global payroll vendors that rely solely upon a network of in-country partners to handle payroll processing. Our managed services solution leverages technology with in-house support to improve operations and deliver accurate and compliant payroll to global workforces. Expanding our core countries, now up to 23 in total, means we’re able to process 75 percent of all customer payrolls through our core countries while relying on our robust in-country partner network for the rest.”Between 2013 and 2018, CloudPay operated in 14 core countries and relied on in-country partners for another 120+ countries. Over the last two years, the company focused intently on growing this presence while advancing its unified platform through investment in robotic process automation, real-time analytics and validation features. CloudPay plans to continue this momentum, aiming to reach 35 core countries by the end of 2021.CloudPay CEO Paul Bartlett commented, “Until recently, global payroll often meant in-country partners were doing the bulk of the work. CloudPay changed what global payroll means, offering a unique market proposition that combines our proprietary technology, cutting-edge automation, the latest in compliance with exceptional customer service around the world. The addition of these core countries reflects our mission to break boundaries, and it is something we intend to pursue aggressively in the coming quarters as we move two to three countries per quarter to our core countries model.”CloudPay has consistently achieved service levels of 99.9 percent accuracy and timeliness. The company is known for its commitment to real-time KPIs for continuous process improvement. To learn more about CloudPay Global Payroll Services, visit https://www.cloudpay.net/global-payroll-services.About CloudPayCloudPay delivers end-to-end managed global payroll and payment services to thousands of multinational organizations through a single, unified cloud solution. Recognized as a leader by industry analysts, and recipient of the 2020 Global Payroll Innovation Award, CloudPay’s solution ensures accurate, compliant payroll processing across 130+ countries. Backed by a global team with deep industry expertise and a commitment to excellence, CloudPay’s solution minimizes manual processes while helping to reduce operating costs. For details, please visit www.cloudpay.net. CONTACT: Note to editors: Trademarks and registered trademarks referenced herein remain the property of their respective owners. Media Contact: Kate Achille The Devon Group 732-706-0123 ext. 703 email@example.com
Industry leader continues successful growth strategy with 16th acquisitionTampa, FL, Dec. 01, 2020 (GLOBE NEWSWIRE) -- DAS Health Ventures, Inc., an industry leader in health IT and management, announced today it completed the acquisition of Randall Technology Services, LLC (RandallTech) a healthcare and managed IT company based in Amarillo, TX. As part of DAS’ growth strategy, this most recent expansion further strengthens their position in the US healthcare technology space.DAS Health actively serves more than 1,800 clients, and nearly 3,500 clinicians and 20,000 users nationwide, with offices in Florida, Nevada, New Hampshire and Texas, and a significant employee presence in 14 key states. This acquisition adds Allscripts® PM and EHR solutions to the DAS portfolio of supported products, and DAS Health has now added additional staff in Texas that will create opportunities for greater regional support of its entire solutions portfolio.“We are continuously growing and working towards providing additional benefits for new and existing clients.” stated David Schlaifer, DAS Health President and CEO. “We are excited to bring our additional suite of services to the RandallTech clients, and to bring the RandallTech solutions and team members into the DAS family, as we continue to strengthen our existing presence.”“We are thrilled to be joining the DAS Health family. This acquisition will provide new levels of support for our clients.” said Randy Whipple, Owner of Randall Technology Services; “I am confident that our clients and employees will have nothing but continuing success with DAS.”Randall Technology’s clients will gain an increased depth of support, and a substantially improved value proposition, as DAS Health’s award-winning offerings are robust, including managed IT / MSP services, practice management and EHR software sales, training, support and hosting, revenue cycle management (RCM), security risk assessments (SRA), cybersecurity, MIPS/MACRA reporting & consulting, mental & behavioral health screenings, chronic care management, telemedicine, and other value-based and patient engagement solutions. About DAS HealthDAS Health has been a leading provider of Health IT and management solutions and a trusted consultant to independent physician groups, hospitals and healthcare systems across North America since 2003. Headquartered in Tampa, FL, with regional offices in Las Vegas, New Hampshire and Texas, and employees in 14 states, DAS delivers superior Information Technology, MSP, RCM medical billing, value-based care, patient engagement, compliance, and practice management solutions for nearly 20,000 users nationwide. It includes representation and support of various Practice Management and EHR platforms, including NextGen® Office, Henry Schein MicroMD®, and now Allscripts®, and is the largest reseller of Aprima® and e-MDs’ Lytec, Medisoft, and Practice Partner solutions; providing numerous other services in conjunction with AdvancedMD®, Athenahealth®, eClinicalWorks™, GreenwayHealth™, and many other platforms. Visit DAShealth.com to learn more. www.DAShealth.com Aprima® is a registered trademark of Aprima Medical Software, Inc., an eMDs Company; eMDs, eMDs Plus, Lytec, Practice Partner and Medisoft are trademarks of eMDs, Inc. NextGen® Office is a registered trademark of QSI Management, LLC. MicroMD® is a registered trademark of Henry Schein Medical Systems, Inc. AdvancedMD® is a registered trademark of AdvancedMD, Inc. Athenahealth® is a registered trademark of Athenahealth, Inc. Allscripts® is a registered trademark of Allscripts Healthcare Solutions, Inc. eClinicalWorks™ is a trademark of eClinicalWorks, LLC. GreenwayHealth™ is a trademark of Greenway Health, LLC. Media ContactJulianne Porter | Vice President of Client Success Julianne.Porter@DAShealth.com | 813-774-9800 x 200
GREENWICH, Conn., Dec. 01, 2020 (GLOBE NEWSWIRE) -- XPO Logistics, Inc. (NYSE: XPO), a leading global provider of transportation and logistics solutions, today announced a companywide shoe drive to benefit the non-profit organization Soles4Souls. During the month of December, XPO employees will collect new or lightly used shoes to help Soles4Souls aid people living below the poverty line. The shoe drive expands on XPO’s support of Soles4Souls, following the company’s donations of supply chain services earlier this year."Today, on Giving Tuesday, we're launching our December shoe drive to help Soles4Souls bring comfort to children and adults in need," said LaQuenta Jacobs, XPO’s chief diversity officer. “We hope that everyone will celebrate this global day of generosity by making a difference in someone’s life through an act of kindness.”To learn more about Souls4Souls or provide support, please visit soles4souls.org.About XPO Logistics XPO Logistics, Inc. (NYSE: XPO) is a top ten global logistics provider of cutting-edge supply chain solutions to the most successful companies in the world. The company operates as a highly integrated network of people, technology and physical assets in 30 countries, with 1,499 locations and approximately 97,000 employees. XPO uses its network to help more than 50,000 customers manage their goods most efficiently throughout their supply chains. XPO's corporate headquarters are in Greenwich, Conn., USA, and its European headquarters are in Lyon, France. xpo.comAbout Soles4Souls Soles4Souls turns unwanted shoes and clothing into opportunity by putting them to good use: providing relief, creating jobs and empowering people to break the cycle of poverty. With locations across three continents, Soles4Souls has distributed more than 50 million pairs of shoes in 129 countries since 2006. soles4souls.orgMedia Contact XPO Logistics, Inc. Joe Checkler +1-203-423-2098 firstname.lastname@example.org
VANCOUVER, British Columbia, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Choom Holdings Inc. (“Choom” or the “Company”) (CSE: CHOO; OTCQB: CHOOF), a fast-expanding retail cannabis company that has established one of the largest store networks in Canada, is pleased to report its financial and operating results for the first quarter of fiscal 2021 ending September 30, 2020. First Quarter Financial Highlights: * Q1 2021 revenue of $6.1M • Increase of $2M and 50% over Q4 2020 revenue of $4.1M * Q1 2021 Gross Margin of 36.33% • Increase of 3.06% over Q4 2020 gross margin of 33.26% * Q1 2021 G&A of $1M or 15.74% of revenue • Versus $1.2M or 28.68% of revenue Q4 2020 * Q1 2021 Salary and Wages of $1.1M or 18.24% of revenue • Versus $0.8M or 20.17% of revenue Q4 2020First Quarter Divisional Highlights:Finance: Choom continues to make strides in our strategic path to profitability, increasing sales while right sizing expenditures, improving margins, and inventory efficiency through our centralized product team resulting in positive adjusted EBITDA 1 for the quarter of $35K.Operations: As we move forward with our new store growth strategy, ground has broken in Yaletown, Vancouver, with an opening set for January 2021. Additionally, a 4th development permit was secured in Vancouver, further creating defensibility amongst other national competitors.During the quarter, we re-opened the Westlock store location that had been previously closed due to COVID-19. Additionally, in Q2 we re-opened Camrose 48th, another location that was previously closed, bringing our open and operating store count to 14.Brand:Choom’s marketing vision receives industry recognition, with nominations for three prestigious awards by ADCANN this November: Storefront Brand of the Year, Marketer of the Year and Best Social Media of the year. Our digital development also continues as we enhance our industry-leading technology on Choom’s 2.0 digital platform, further positioning ourselves as a technology enabled Cannabis retailer, supporting our strategic pillar of creating a true omni-channel experience.Culture:The further centralization of our business model continues to attract top talent both at our store support center as well as at our retail locations. Work continues to bring key functions of our team in-house, reducing reliance and costs related to contractors and consultants, allowing for improved business support.About Choom™Choom™ is a fast-expanding retail cannabis company that has established one of the largest store networks in Canada. The Choom brand is inspired by Hawaii's “Choom Gang”—a group of buddies in Honolulu during the 1970's who loved to smoke weed—or as the locals called it, “Choom”. Evoking the spirit of the original Choom Gang, our brand caters to the Canadian market with the ethos of ‘cultivating good times’. Choom™ is focused on delivering an elevated customer experience through our curated retail environments, offering a diversity of brands for Canadians across a national retail network. Cautionary Statement on Forward-looking information This news release contains forward-looking information relating to the Company's proposed activities and other statements that are not historical facts. Forward-looking information relates to management's future outlook and anticipated events or results and includes statements or information regarding the future plans or prospects of the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. These factors include risks and uncertainties associated with or arising as a result of delays in obtaining or an inability to obtain required regulatory approvals, access to sufficient quantities of cannabis, the results of diligence investigations, the actions of third parties, the results of negotiations with third parties, developments in the cannabis sector, the ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays and other risks and uncertainties discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings, including those made with the CSE and applicable Canadian securities regulators. There can be no assurance that such forward looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. 1: Non-IFRS Measures – Adjusted EBITDA Adjusted EBITDA is a Non-IFRS metric used by management and does not have any standardized meaning prescribed by IFRS. The metric may not be comparable to similar measures presented by other companies. Management defines Adjusted EBITDA as the Income (loss) for the period, as reported, before accretion, interest, tax, share-based compensation, depreciation and amortization, impairment, gains and losses related to the disposition of tangible assets, debt extinguishments and professional fees associated with financing and acquisition activities. Management believes Adjusted EBITDA is a useful financial metric to assess its operating performance.NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTED RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. CONTACT: For additional information contact: Corey Gillon, CEO Telephone: 604-683-2509 Chris Bogart, President Telephone: 604-683-2509 email@example.com
VANCOUVER, British Columbia, Dec. 01, 2020 (GLOBE NEWSWIRE) -- DOSarrest Internet Security announced today that they have released a new version of its Cyber Attack Preparation Platform (CAPP). CAPP is a serve yourself portal allowing customers to test their DDoS protection services they have in place or to stress test their website’s software capability under load. The service has over 50 different types of DDoS attacks in stock, the latest version is a completely new software build of the backend to accommodate a larger and more powerful botnet along with resource management. This version of CAPP, has a new easy to use Wizard to help customers navigate and launch multiple different attacks on multiple targets simultaneously. The customer interface is also integrated into DOSarrest’s customer portal along with all of their other Internet security services.Some of the new attacks now available include: SSL Connection Overload, GRE Protocol Floods, Database Stress Testing, Variable ICMP Type Floods & Advanced TCP Table Exhaustion, Enhanced HTTP Attacks – Able to randomize User agents, URI’s, referrers and much more, all with a high number of concurrent connections. DOSarrest CTO Jag Bains comments, “It’s interesting to see how different systems react to attacks; CAPP not only shows you the traffic to the victim but also shows you the traffic response from the victim. A small attack to a target can actually produce a response back that’s 500 times larger.” Bains adds, “Every time a customer uses the service, they learn something new, sometimes it’s bad news; the good news is, it’s only a test.”CEO of DOSarrest, Mark Teolis states “Pretty much all of the new attacks and enhancements are a result of customer feedback over the last few years of operating the service first launched in 2018. Customers know they have weak or overcommitted resources, and they want test them to make sure they don’t fail.”About DOSarrest Internet Security: DOSarrest founded in 2007 in Vancouver, B.C., Canada serves a global client base and specializes in fully managed cloud based Internet security services including DDoS protection for websites, Network Infrastructure protection, Web Application Firewall (WAF), Traffic Analyzer as well as CAPP.More information at www.DOSarrest.com Media Contact: Julie Trudel Toll free CAD/US 1-888-818-1344 ext. 205 UK Freephone 0800-086-8812 ext. 205 CR@DOSarrest.com
Insurance industry veteran and actuarial expert Matthew Duke to lead the global Actuarial and Analytics Services practice at XceedanceBOSTON, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Xceedance, a global provider of strategic insurance consulting and technology servicing insurance organizations worldwide, today announced the expansion of its global Actuarial and Analytics Services practice, led by Matthew Duke, SVP and chief actuary. “Matthew looks at actuarial services from a business perspective first,” said Manish Khetan, COO of North America operations at Xceedance. “His approach to maximizing the value of the insurance actuarial function can be transformational for large companies looking to streamline and focus operations. Small to mid-size insurance companies, which may not have the bandwidth to truly take advantage of progressive actuarial services, can also benefit from the Xceedance offering.”Duke brings 15 years of leadership in actuarial and analytics disciplines, with expertise in strategy execution, facilitating organizational change, and solving business challenges via data-driven insights that directly impact profitability. He is a member of the American Academy of Actuaries (MAAA), an associate of the Casualty Actuarial Society (ACAS), recognized as an associate in reinsurance (ARe) by The Institutes, and attained his MBA from The Wharton School, University of Pennsylvania. Prior to joining Xceedance, Duke worked at Blackboard Insurance as head of pricing and growth analytics, where he developed actuarial pricing infrastructure, led state filing initiatives, redefined the role of an actuary, and recruited top talent. In addition to interim head of risk at Blackboard, Duke held positions at Freedom Mortgage, Guy Carpenter, Arch Insurance Group, and Travelers.The global Actuarial and Analytics Services capabilities of Xceedance have been expanded by Duke to better align with the strategic objectives and commitments of insurance organizations. The expanded capabilities, featuring advisory, consulting, and enablement services, include: * Staff Enablement * Technology Enablement * Pricing and Growth Analytics * Reserving and Claims Analytics * Data Sciences * Admitted Market Management“Xceedance has provided actuarial services to insurance companies for several years, building a foundation upon which an expanded practice with broader reach can be established,” said Duke. “I strongly believe the involvement of proficient actuaries at all levels of the insurance decision-making process can translate to real value on the profit and loss statement. In partnering with Xceedance, insurance organizations can have access to top-quality actuarial and analytics resources, not only for standard pricing and reserving work, but also to enable other functions which contribute to the goals and outcomes of a company’s strategic plan.”About Xceedance Xceedance (www.xceedance.com) is a global provider of strategic consulting and managed services, technology, data sciences, and blockchain solutions to insurance organizations. Domiciled in Bermuda, with offices in the United States, United Kingdom, Liechtenstein, Switzerland, Poland, India, and Australia, Xceedance helps insurers launch new products, drive operations, implement intelligent technology, deploy advanced analytic capabilities, and achieve business process optimization.Media Contact: Jennifer Overhulse Company: St. Nick Media Telephone: +1 859 803 6597 Email: firstname.lastname@example.org
BEIJING, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Wanda Sports Group Company Limited (the “Company”, and together with its consolidated entities, “Wanda Sports Group,” the “Group” or “we”) (NASDAQ: WSG), a leading global sports events, media and marketing platform, today announced its unaudited financial results for the third quarter ended September 30, 2020. Third Quarter 2020 Highlights: * Total revenue from continuing operations for the third quarter of 2020 was €91.2 million (US$107.0 million), representing a decrease of 42% year-over-year, primarily attributable to a decrease in revenue from the Spectator Sports and DPSS segments due to the broad effects of COVID-19 mitigation efforts. Excluding reimbursement revenue, total revenue was €90.7 million (US$106.4 million), a decrease of 41% over the third quarter of 2019. * Net profit for the period from continuing operations was €5.5 million (US$6.4 million), compared to a loss of €23.9 million in the third quarter of 2019. * Adjusted EBITDA from continuing operations was €29.5m million (US$34.6 million), representing an increase of 74% compared to €16.9 million in the third quarter of 2019. * The Group’s liquidity position remained solid in the third quarter of 2020. The Group had total cash and cash equivalents of €151.7 million (US$177.8 million) as of September 30, 2020. * The Group delivered a 30% increase in coverage across sub-Saharan Africa for the English Premier League, one of the world’s top football leagues, as the new season 2020/21 began on September 12 and runs until May 23. * The German Ski Association (DSV) and the Austrian Ski Association (ÖSV) have prolonged their exclusive marketing partnership for the annual Vierschanzentour-nee with the Group, for another four years until and including season 2025/26. This extension covers all marketing activities for the world’s biggest annual event in ski jumping. * The Group and Lega Basket Serie A (LBA) have agreed to an exclusive three-year partnership ahead of the presentation of the 2020/2021 Championship; the Group will be the exclusive marketing, sponsorship and digital rights partner starting from the 2020/21 season until the end of the 2022/23 season. Mr. Hengming Yang, Chief Executive Officer of Wanda Sports, commented, “Although we continue to experience extraordinary challenges and uncertainties as the pandemic disrupts our way of life across the globe, we are pleased to deliver the safe returns of some of the compelling regional events, including Italy's Serie A, the German Bundesliga and Premier League football matches with and without spectators. We remain actively committed in supporting our partners to achieve more sustainable sporting events now and in the future. In addition, our consistent achievements of long-term contractual prolongations and new business wins demonstrate our partners’ full trusts in our strategic vision and value creation, especially under the current challenging environment. Despite the continued low visibility in the near term, we remain optimistic about the demand for sporting media on a global basis, as we continue to focus on our strategic execution leveraging our global talents, assets and platform.”Mr. Brian Liao, Chief Financial Officer of Wanda Sports commented, “In the third quarter, we significantly recovered our business momentum from the preceding quarter, which reflected our resilient business model and the success of our stringent cost control measures across the organization. We delivered revenue of $107.0 million, primarily due to re-opening of certain sports events, representing 83.8% quarter-on-quarter increase compared to the second quarter of 2020. We also achieved an improved adjusted EBITDA of $34.6 million, with a quarter-on-quarter increase of 47.1% compared to the second quarter of 2020. While we are pleased of our progress in the third quarter on both the recovery of sporting events and the cost management efforts, we remain focused on our strategic initiatives for long-term values, and we remain cautious about the speed of recovery, in light of the potential tightening of COVID restrictions and the continued uncertainty in global economic outlook.”Third Quarter 2020 Business Highlights Core Business Segments:Spectator Sports In its Spectator Sports business for the third quarter of 2020, despite the disruptions due to the pandemic, the Group successfully resumed the delivery of a number of regional and national events, either behind closed doors, or with limited spectators, under strict health and hygiene protocols. In addition, the successful major contract extensions and new business wins further solidified the Group’s leading position as the partner of choice for major sports rights holders, world-class brands and media organizations around the world, despite the uncertainty of the operating environment.Key events * The Group delivered a 30% increase in coverage across sub-Saharan Africa for the English Premier League, one of the world’s top football leagues, as the new season 2020/21 began on September 12 and runs until May 23. Over 25 broadcasters across more than 20 territories will show one match a week on free-to-air television, including English, French or Portuguese commentary as well as dedicated services in local languages such as Swahili. * Italian Serie A and B season 2019/2020 were completed in August. As it has in the past, the Group advised on the distribution of the international feed and packaged the rights for broadcasters and digital media (including film, sound, text and imagery) for various platforms across all markets. Pre-produced magazine and highlight programming as well as additional footage, background information and interviews were also generated around the matches, creating increased international exposure for Italian club football. * Italian Serie A, the German Bundesliga and the English Premier League successfully began their new football season 2020/21 in September, also allowing a limited number of home spectators to return to the stadiums. In Italy, 1,000 spectators were permitted to watch the games onsite, while the German clubs were allowed to fill 20% of their normal stadium capacity. * Following a five-month hiatus due to the COVID-19 pandemic, the 2020 FIM Motocross World Championship returned to the hard sand circuit of Kegum in Latvia and continued across Europe to Faenza in Italy.Major Prolongations * The German Ski Association and the Austrian Ski Association have prolonged their exclusive marketing partnership for the annual Vierschanzentour-nee with the Group, for another four years until and including season 2025/26. This extension covers all marketing activities for the world’s biggest annual event in ski jumping. Moreover, the Group closed a four-year Presenting Sponsorship agreement for the event with bet-at-home, the sports betting provider, until the end of the 2023/24 season. * The Group successfully arranged a global partnership agreement extension between TCL, a consumer electronics company, and the International Basketball Federation (FIBA). The partnership will continue to cover all FIBA events for seasons 2020-2023 including the FIBA World Cup in 2023. A further extension was also closed by the Group between FIBA and sports good supplier Schelde Sports for backstop units until 2024. The multi-event partnership will cover FIBA's top-level international competitions including the FIBA Basketball World Cup 2023, FIBA Eurobasket 2022, and the basketball tournaments at the Paris 2024 Olympic Games. * The Group successfully extended a sponsorship agreement in which LIQUI MOLY, the German motor oil manufacturer, will be a partner of the EHF Champions League Men for the 2020/21 season. The sponsorship sees LIQUI MOLY featured on LED boards, floor stickers and across all advertising materials. * The Group and the Italian Winter Sports Federation (FISI) have extended their exclusive media rights partnership for all FIS World Cup events taking place in Italy through the end of the 2025/26 season. This renewal of the more than 20-year long partnership means the Group continues its role for the organization of production, broadcast and distribution of all FIS World Cup Alpine Skiing, Nordic Combined, Cross-Country Skiing, Ski Jumping, Snowboarding and Freestyle competitions. * The Norwegian Ski Federation has extended its exclusive international media rights agreement with the Group, for FIS World Cup events, including men's and women's alpine skiing, cross-country skiing, ski jumping and Nordic combined. This new five-year deal will run from 2021/22 to 2025/26. * The Nordic Entertainment (NENT) Group has closed a five-season agreement with the Group for Scottish Professional Football League (SPFL) broadcast rights, extending its coverage to 2024-25, and adding rights in Iceland for the first time to the prior coverage of Denmark, Finland, Norway and Sweden. The agreement is for rights to the top-tier Premiership, second-tier Championship and the League Cup. The Group holds the SPFL international distribution rights in a five-season deal from 2020-21 to 2024-25. * The Group recently renewed its long-running commercial agreement with the German Ice Hockey Federation (DEB) until the end of the 2023-24 season and continued to represent exclusive sponsorship and media rights, along with the merchandising rights, to Germany’s national teams. * The Group successfully extended an agreement for Pirelli, the Italian tire manufacturer, to continue to be the official tire supplier of the FIM Motocross World Championship until the end of the 2023 MXGP season.Key New Business Wins * The Group and Lega Basket Serie A (LBA) have agreed to an exclusive three-year partnership ahead of the presentation of the 2020/2021 Championship; the Group will be the exclusive marketing, sponsorship and digital rights partner starting from the 2020/21 season until the end of the 2022/23 season. The Group will manage sponsors at all LBA events including the regular season and playoff phases of the Serie A Championship, the Italian Cup 'Final Eight', the Italian Super Cup and the NextGen Cup, as well as non-competitive events exclusively managed by LBA. The agreement also covers the investment and implementation of a digital strategy aimed at growing LBA's digital channels, which includes post-production content creation of both recent and archived footage. * The Group successfully arranged several media rights partnerships after a competitive pitch process on behalf of the EHF: the EHF Champions League Men and the DELO EHF Champions League and European handball club competitions will be broadcast on DAZN in Austria, Germany, Spain and Switzerland for six seasons up until the end of the 2025/26 season; BTRC in Belarus has also reached an agreement to cover EHF club handball tournaments for the next three seasons; and Eurosport will be the exclusive broadcaster for all men's and women's European handball club competitions, including the EHF Champions League, in France and Poland. This six-year agreement will run until the end of the 2025/26 season. * The Group successfully facilitated an agreement in which FOKUS CLAN, one of Germany's top football esports organizations, will wear jerseys equipped by Adidas for the 2020/21 season. In addition, OUTFITTER, the online specialists for soccer, team sports and athleisure, has extended its agreement with FOKUS CLAN, providing merchandising and streetwear for the team and its fans. * The Group and the Italian Ice Sports Federation (FISG) have signed an exclusive six-year marketing, sponsorship and digital rights partnership running until the end of the 2025/26 season. The Group will manage sponsorship research and activation at both the federation level and for individual events in Italy and will develop a digital activation concept to elevate the presence of Italian ice sports on social and digital platforms. * The Group, as the exclusive media rights partner of the European Volleyball Confederation (CEV), has successfully secured a major media rights agreement with Polish broadcaster Polsat for the exclusive rights to broadcast the CEV Champions League Volley, CEV Volleyball Cup and CEV Volleyball Challenge Cup matches from the 2020/2021 to 2024/2025 seasons. Digital, Production, Sports Solutions (DPSS) * The World Curling Federation has agreed to a two-year contract extension on digital content production and social media strategy with the Group to further advance their audience growth in China ahead of the 2022 winter Olympic and Paralympic Games. * The Group closed several strategic deals, including an extension with PGA TOUR (digital products & platforms), new product builds for NASCAR, a new partnership with a European telco provider around the Group's fan engagement products as well as the creation of digital 5G-based in-venue experience for an European-based football association. * The Group launched a joint venture with Minute.ly, a video optimization startup. This new sport tech partnership will allow the Group to sell Minute.ly's technology as part of its offering to prospective and existing customers in Europe and the US, in order to increase user engagement and content outreach. * Eight rounds of Lega Serie A were delivered in July, in which the Group provided end-to-end media production service by handling the entire gamut of broadcast production and content creation across diverse platforms as well as media rights distribution, marketing and commercialization. * The Group has been appointed by France’s Ligue Football Professional (LFP) for host broadcast production quality and consultancy services for the seasons 2020/21 to 2024/25. * The Group has been appointed as the LED boards service provider for the FIFA Futsal World Cup Lithuania 2021.Mass ParticipationIn the third quarter, although many mass participation events were cancelled or postponed due to the pandemic, the Group did host a few successful events to provide participants with a stimulating outlet during the pandemic. * Megamarsch (50/100km walk/hike) in Mönchengladbach (Germany) took place with strict protective measures, staggered starting times, and limited participants for each starting time slots. The Group organized and managed the entire event. * The re-opening of Muddy Angel Run in September and the XLETIX Challenge in early October both took place in Berlin, Germany, in compliance of strict protection guidelines and hygiene measures. Both events signaled a return of mass sport events and showed that it is possible to host outdoor sports events during these extraordinary times. The Muddy Angel Run, held at the Karlshorst harness racing track, saw the return of more than half of the 2,900 registered participants. Similarly, the XLETIX Challenge in the Offroad Park Berlin Brandenburg hosted more than 50% of the 3,000 registrations on the day.China Business HighlightsIn the third quarter of 2020, almost all sports events were cancelled or postponed across China as a result of the pandemic. * The 2020 Shenyang Marathon Carnival was held online from August 27 to September 20, and was one of the largest online road races since the pandemic with over 370,000 participants across China. The online races included 3km, 5km, 10km, half-marathon, and marathon. The Group organized and managed the entire event. Third Quarter 2020 Financial ResultsRevenueTotal revenue for the third quarter of 2020 was €91.2 million (US$107.0 million), representing a decrease of 42% year-over-year, primarily attributable to a decrease in revenue from the Spectator Sports segments. Excluding reimbursement revenue1, total revenue was €90.7 million (US$106.4 million), a decrease of 41% over the third quarter of 2019.The following table sets forth a breakdown of revenue by segment for the periods indicated: Three Months Ended September 30, 2020 2019 (in millions, except percentages)USD EUR% of RevenueEUR% of RevenueYoY Change Core segments: Spectator Sports78.967.374% 105.867% (36%) DPSS24.320.723% 26.017% (20%) Mass Participation3.83.24% 25.416% (87%) Total Revenue 107.091.2100% 157.2100% (42%) DPSS excluding reimbursement revenue23.720.2 23.3 (13%) Total Revenue excluding reimbursement revenue106.490.7 154.5 (41%) Nine Months Ended September 30, 20202019 (in millions, except percentages)USD EUR% of RevenueEUR% of RevenueYoY Change Core segments: Spectator Sports287.8245.581% 438.075% (44%) DPSS66.556.718% 102.317% (45%) Mass Participation5.24.51% 46.68% (90%) Total Revenue 359.5306.7100% 586.9100% (48%) DPSS excluding reimbursement revenue64.955.3 72.0 (23%) Total Revenue excluding reimbursement revenue357.9305.3 556.6 (45%) _______________ 1 Reimbursement revenues represent revenue that has associated costs of a similar, generally matching, amount (reimbursement costs), thereby resulting in a negligible gross margin impact. * Spectator Sports: The decrease in revenue was primarily due to the cyclicality impact from FIBA Basketball World Cup 2019 and CEV EuroVolley 2019, as well as postponement or cancellation of events as a result of the COVID-19 mitigation efforts. These decreases partially offset increased revenue from the Italian football and DFB business. * DPSS: The decrease in revenue was primarily driven by the cyclicality effect from FIFA Women's World Cup 2019™ which partially offset the increased revenue from Italian football production business. * Mass Participation: The decrease in revenue was due to the cancellation of most scheduled events as a result of the COVID-19 mitigation efforts. There were three such events in the third quarter of 2020 compared to 45 events in the third quarter of 2019. The number of gross-paid athletes was 4,000 and 342,000 in the third quarter of 2020 and of 2019, respectively. Gross profit The following table sets forth a breakdown of gross profit and the corresponding gross margin by segment for the periods indicated: Three Months Ended September 30, 2020 2019 (in millions, except percentages)USDEUR Gross margin EURGross margin YoY Change in Gross Profit Core segments: Spectator Sports36.130.846% 32.631% (5%) DPSS8.97.636% 8.834% (14%) Mass Participation1.41.237% 10.642% (89%) Total Gross Profit46.439.643% 52.033% (24%) Nine Months Ended September 30, 20202019 (in millions, except percentages)USDEUR Gross margin EURGross margin YoY Change in Gross Profit Core segments: Spectator Sports125.8107.344% 132.030% (19%) DPSS28.023.842% 31.230% (24%) Mass Participation0.80.816% 18.940% (96%) Total Gross Profit154.6131.943% 182.131% (28%) * Spectator Sports: The decrease in gross profit was primarily due to the cyclicality impact as well as postponement or cancellation of events as mentioned above which partially offset the contribution from DFB business. * DPSS: The decrease in gross profit was primarily driven by the cyclicality effect from FIFA Women's World Cup 2019™ which partially offset the increased gross profit from Italian football production business. * Mass Participation: The decrease in gross profit was due to the cancellation of most scheduled events as a result of the COVID-19 mitigation efforts. Gross margin, or gross profit as a percentage of revenue, was 43%, compared with 33% in the corresponding quarter of 2019, primarily reflecting a higher weight of commission-model based business in football, which tends to have a higher gross margin.Personnel expenses were €23.1 million (US$27.1 million), compared with €34.5 million in the third quarter in 2019, primarily attributable to the decreased share-based compensation expenses as well as the Group’s strict cost control measures during the pandemic, such as streamlined labor force and salary reduction.Selling, office and administrative expenses were €6.1 million (US$7.2 million), compared with €9.6 million in the third quarter in 2019, mainly resulting from the rigorous cost saving plans including, among others, strict travel restrictions and reductions of marketing expenses.Depreciation and amortization expenses were €5.4 million (US$6.3 million), compared with €4.6 million in the third quarter in 2019.Other operating income, net was €13.6 million (US$16.0 million) compared with other operating expense, net of €1.4 million in the third quarter of 2019. The other operating income, net in the third quarter of 2020 was primarily contributed by a gain of €14.5 million from the disposal of the IRONMAN Group (subject to post-closing purchase price adjustment process).Finance costs were €10.7 million (US$12.6 million), compared with €20.6 million in the third quarter in 2019, primarily due to interest expense savings under the senior 364-day term loan facility entered into in March 2020, which was repaid in July 2020 following sale of the IRONMAN Group.Income tax was €3.4 million (US$3.9 million), compared with €5.8 million in the third quarter of 2019, primarily due to lower profit before tax.Profit for the period from continuing operations was €5.5 million (US$6.4 million), compared to a loss for the period of €23.9 million for the third quarter of 2019, principally resulting from the gain from disposal of the IRONMAN Group as well as savings in overhead expenses and finance costs which offset the decreased gross profit.Adjusted EBITDA from continuing operations was €29.5 million (US$34.6 million), compared to €16.9 million in the third quarter of 2019, principally resulting from the gain from the disposal of the IRONMAN Group as well as savings in overhead expenses which offset the decreased gross profit.Net profit for the Group (inclusive of discontinued operations) attributable to ordinary shareholders of Wanda Sports Group Company Limited was €1.6 million (US$1.8 million), compared to a net loss of €31.3 million in the third quarter of 2019. Excluding the gain from the disposal of the IRONMAN Group, the Group would have incurred a net loss of €13.0 million in the third quarter of 2020.Basic and diluted net profit for the Group (inclusive of discontinued operations) per American Depositary Share (“ADS”) were both €0.01 (US$0.01), compared to basic and diluted net loss per ADS of both €0.23 in the third quarter of 2019.Cash and cash equivalentsAs of September 30, 2020, the Group had total cash and cash equivalents of €151.7 million (US$177.8 million).IndebtednessAs of September 30, 2020, the Group had total interest-bearing liabilities of €409.5 million (US$480.0 million) compared to €685.2 million from continuing operations as of June 30, 2020, mainly attributable to partial repayment of the credit facility of Infront Sports & Media AG, as well as the full repayment of the Company’s existing 364-day facility from the proceeds of the sale of the IRONMAN Group.COVID-19 Business Operation & Outlook Despite the continued public health restrictions throughout the third quarter, overall economic activities of various markets around the world increased compared to the second quarter, and this in turn led the resumption of certain sporting events, which benefitted the Group. As a leading media and marketing partner, the Group continues to focus on the meticulous planning to safely re-open organized sports in different markets (even if without spectators at venues).In the Spectator Sports segment, its 2019/20 football season experienced delayed completion until August, with fewer games played, and without spectators. The 2020/21 season began in September, with the successful kickoffs of Italy's Serie A and the German Bundesliga matches, permitting a total of 1,000 spectators to watch the games onsite in Italy, while the German clubs could fill 20% of their normal stadium capacity. The Company currently expects no or very limited numbers of spectators for the 2020/21 football season.In Summer Sports, some postponed events are gradually being rescheduled. For example, the FIM MXGP Motocross World Championship resumed in August, though with fewer races. The Badminton World Federation Asia Open and World Tour Finals are already postponed to 2021, but the Women's European Handball Federation EURO Championship 2020 is still tentatively expected to take place in December of this year.The Group remains hopeful for its upcoming Winter Sports season, including the FIS World Cup and the IBU World Cup, but visibility is still relatively limited. Champions Hockey League (CHL) has already been cancelled for the 2020/21 season.The DPSS business activities have resumed in delivering eight rounds of Lega Serie A production, and the World Triathlon Hamburg races in the third quarter, as well as the delayed French Open (at Roland Garros) tournament that finally took place in September. The Group believes it is very well positioned to deliver digital transformation services and data-driven solutions for its clients.The Group’s on-going priority remains to ensure the safety and well-being of its athletes, employees, clients and key partners, while continue to be flexible in its full operation. Currently, some employees have returned to workplaces in compliance with the strict hygiene protocols as required by the respective public health authorities. Given the dedication and innovation of the employees, the Group continued to serve clients effectively in response to the profound global impact.The Group’s commitment to innovation also continues to be reflected in the industry recognition by the clients as the Group enables them in adapting agile marketing strategies and in reshaping their operations for a “new normal”. Some examples included the increased broadcast coverage and digital media for compelling delivery of English Premier League, German Bundesliga, as well as Italia Serie A and B, despite limited or no spectators on-site.The Group continues to maintain the financial flexibility of its business from both liquidity and cost management perspectives. After the closing of the IRONMAN transaction in the third quarter and applying a portion of the proceeds, the Group reduced its outstanding debt by 40% to $480.0 million. The Group continues to exercise tight cost control and comprehensive business reviews despite the recovery in the global activities in the third quarter. The Group has reduced the overall operating expenses by 33.7% year-over-year in the third quarter. The Group also expedited reviewing and optimizing procedures to minimize the negative impact on financials (e.g. reduction of headcount, hiring freeze, restricting travel and capex).Finally, the Group is cautious about the recent (post third quarter of 2020) new wave of lockdowns throughout the world as COVID-19 cases started to rise again. The Group continues to be vigilant in managing its operations and adapting its business execution, while remaining optimistic about the long-term opportunities within the global sport media and marketing sector, despite the relatively limited visibility in the near term.Liquidity The Company had total cash and cash equivalents of €151.7 million (US$177.8 million) from continuing operations at the end of the third quarter.Management is confident of the Group’s strong liquidity position and its disciplined approach in managing the ongoing capital requirementsOther Developments * After the sale of The IRONMAN Group was completed on July 17, 2020, the Group continues to operate IRONMAN® and IRONMAN® 70.3® triathlon series, Rock 'n' Roll Marathon Series® and Epic Series® off-road mountain bike series races in China under an exclusive event license agreement. * Business relations with German Football Association DFB were terminated in September by mutual agreement, and the resulting financial obligations have been settled. The DFB will now market the DFB Cup itself, but should the DFB decide at a later date to put the marketing rights out to public tender again, this tender will be open to all market participants, including the Group. * On September 30, 2020, the Group announced that its Board of Directors has received a preliminary non-binding proposal from Wanda Sports & Media (Hong Kong) Holding Co. Limited to acquire all of the outstanding Class A ordinary shares of the Group, including American depositary shares representing Class A Ordinary Shares (with every two ADSs representing three Class A Ordinary Shares), for US$2.50 in cash per ADS, or US$1.67 per Class A Ordinary Share. On October 6, 2020, the Group announced that the Board formed an independent committee consisting of its independent directors, Mr. Edwin Fung and Mr. Kenneth Howard Jarrett, to consider the proposal. On October 23, 2020, the Group announced that the independent committee retained Houlihan Lokey (China) Limited as its independent financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as its legal counsel. Despite the on-going review process, management continues to focus on strategic execution and daily operating performance. About Wanda Sports Group Wanda Sports Group is a leading global sports events, media and marketing platform with a mission to unite people in sports and enable athletes and fans to live their passions and dreams. Through its businesses, Infront and the Wanda Sports China, Wanda Sports Group has significant intellectual property rights, long-term relationships and broad execution capabilities, enabling it to deliver inspiring sports event experiences, creating access to engaging content and building inclusive communities. Wanda Sports Group offers a comprehensive array of events, marketing and media services through its three primary segments: Spectator Sports, Digital, Production, Sports Solutions (DPSS) and Mass Participation. Wanda Sport Group's full-service platform creates value for its partners and clients as well as other stakeholders in the sports ecosystem, from rights owners, to brands and advertisers, and to fans and athletes.Headquartered in China, Wanda Sports Group has more than 48 offices in 16 countries with over 1,000 employees around the world. For more information, please visit http://investor.wsg.cn/investor-relations.Use of Non-IFRS Financial MeasuresTo supplement our consolidated financial statements which are presented in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”), we also use Adjusted EBITDA as a non-IFRS financial measure. We present this non-IFRS financial measure because it is used by our management in evaluating our operating results and for financial and operational decision-making purposes. We define Adjusted EBITDA as net income excluding share-based compensation and other non-recurring expenses. We also believe that this non-IFRS financial measure provides useful information to investors and others in understanding and evaluating our consolidated results of operations in the same manner as our management and in comparing financial results across accounting periods and to those of our peer companies.Non-IFRS financial measures should not be considered in isolation or construed as an alternative to profit/(loss) from operations and net profit/(loss) or any other measure of performance, or as an indicator of our operating performance. Adjusted EBITDA may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to our data. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure. Reconciliation of Adjusted EBITDA and EBITDA, another non-IFRS financial measure, to the most directly comparable IFRS financial measure is set forth at the end of this release.Exchange Rate Information This press release contains translation of certain Euro (“€”) amounts into U.S. Dollar (“$”) at specified rates solely for the convenience of readers. Unless otherwise noted, all translations from Euro to U.S. dollar were made at the exchange rate of €0.8530 to US$1.00, the exchange rate on September 30, 2020 set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System.Safe Harbor Statement This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include but are not limited to management quotes and the Company's financial outlook. These forward-looking statements can be identified by terminology such as "will," "estimate," "project," "predict," "believe," "expect," "anticipate," "intend," "potential," "plan," "goal" and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements and, consequently, could be affected by the uncertain and unprecedented impact of COVID-19 on the Company's business and operations and the related impact on its liquidity needs. These forward-looking statements include, but are not limited to, statements about: the impact of the spread of COVID-19 and related mitigation efforts on the Company's business, operations and operating results; the Company's goals and strategies; the expected growth in the Company's industry; the Company's expectations regarding its ability to attract rights-in partners and monetize their rights through rights-out arrangements; changes in consumer behavior and consumer and corporate spending, including as a result of the COVID-19 crisis; the Company's ability to reach acceptable levels of engagement with its athletes following the COVID-19 crisis; the Company's future business development, results of operations and financial condition; competition in the Company's industry; general economic and business conditions, including as a result of the COVID-19 crisis; the outcome of discussions with rights owners and lenders to mitigate the impact of the effects of COVID-19 on the Group; and assumptions underlying or related to any of the foregoing as well as risks, uncertainties, and other factors described in "Risk Factors" and elsewhere in the Company's annual report on Form 20-F for the year ended December 31, 2019, which is available on the SEC's website at www.sec.gov. Additional information will be made available in future filings that the Company makes from time to time with the SEC.In addition, any forward-looking statements contained in this press release are based on assumptions that the Company's believes to be reasonable as of this date. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.For investor and media inquiries, please contact:Wanda Sports GroupEdith KwanTel: +86 (10) 8558 7456E-mail: email@example.comWANDA SPORTS GROUP COMPANY LIMITEDUNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS(Amounts in thousands of Euro (“€”) or, for convenience translation, thousands of U.S. Dollar (“$”), except for number of shares and per share data) For the three months ended For the nine months ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 $€ € $€ € Continuing operations Revenue 106,960 91,237 157,162 359,535 306,683 586,881 Cost of sales (60,547)(51,647) (105,210) (204,909)(174,787) (404,786) Gross profit 46,413 39,590 51,952 154,626 131,896 182,095 Personnel expenses (27,131)(23,143) (34,536) (88,013)(75,075) (88,376) Selling, office and administrative expenses (7,182)(6,126) (9,620) (25,444)(21,704) (29,407) Depreciation and amortization (6,318)(5,389) (4,576) (20,023)(17,080) (14,944) Other operating income/(expense), net 15,958 13,612 (1,415) 33,130 28,260 (484) Finance costs (12,562)(10,715) (20,611) (38,828)(33,120) (38,644) Finance income 1,168 996 193 2,549 2,174 1,041 Share of loss of associates and joint ventures 1 1 516 (64)(55) 506 Profit/(loss) before tax from continuing operations 10,347 8,826 (18,097) 17,933 15,296 11,787 Income tax (3,945)(3,365) (5,784) (10,104)(8,619) (13,303) Profit/(loss) for the period from continuing operations 6,402 5,461 (23,881) 7,829 6,677 (1,516) Discontinued operations Loss after tax for the period from discontinued operations (4,770)(4,069) (7,318) (69,728)(59,478) (13,754) Profit/(loss) for the period 1,632 1,392 (31,199) (61,899)(52,801) (15,270) Attributable to: Equity holders of the parent 1,832 1,563 (31,264) (61,022)(52,052) (16,678) Noncontrolling interests (200)(171) 65 (877)(749) 1,408 1,632 1,392 (31,199) (61,899)(52,801) (15,270) Earnings per share2: Basic profit/(loss) for the period attributable to ordinary equity holders of the parent 0.010.01 (0.15) (0.29)(0.25) (0.08) Diluted profit/(loss) for the period attributable to ordinary equity holders of the parent 0.010.01 (0.15) (0.29)(0.25) (0.08) Basic profit/(loss) for the period attributable to ADS holders of the parent 0.010.01 (0.23) (0.44)(0.38) (0.12) Diluted profit/(loss) for the period attributable to ADS holders of the parent 0.010.01 (0.23) (0.44)(0.38) (0.12) Earnings per share for continuing operations: Basic profit/(loss) for the period attributable to ordinary equity holders of the parent 0.030.03 (0.12) 0.04 0.04 (0.01) Diluted profit/(loss) for the period attributable to ordinary equity holders of the parent 0.030.03 (0.12) 0.04 0.03 (0.01) Basic profit/(loss) for the period attributable to ADS holders of the parent 0.050.04 (0.18) 0.06 0.05 (0.02) Diluted profit/(loss) for the period attributable to ADS holders of the parent 0.050.04 (0.18) 0.06 0.05 (0.02) _______________ 2 Basic and diluted earnings per share and profit attributable to ADS holders of the parent for the three months ended September 30, 2020 and 2019 were computed in the assumption that the Company had issued 23.8 million ADS, and the Company had approximately 209 million and 205 million ordinary shares issued and outstanding as at September 30, 2020 and 2019, respectively. WANDA SPORTS GROUP COMPANY LIMITED UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME(Amounts in thousands of Euro (“€”) or, for convenience translation, thousands of U.S. Dollar (“$”)) For the three months ended For the nine months ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 $€ € $€ € Profit/(loss) for the period 1,632 1,392 (31,199) (61,899)(52,801) (15,270) Other comprehensive income: Other comprehensive income to be reclassified to profit or loss in subsequent periods (net of tax): Net (loss)/gain on cash flow hedges (2,502)(2,134) 229 (10,347)(8,826) 133 Exchange differences on translation of foreign operations (2,979)(2,541) 26,304 1,768 1,508 17,835 Net other comprehensive (loss)/income to be reclassified to profit or loss in subsequent periods (5,481)(4,675) 26,533 (8,579)(7,318) 17,968 Other comprehensive income not to be reclassified to profit or loss in subsequent periods: Net remeasurement on defined benefit plans - - 12 - - - Net loss on equity instruments designated at fair value through other comprehensive income - - - (9,298)(7,931) - Net other comprehensive income/(loss) not to be reclassified to profit or loss in subsequent periods 12 (9,298)(7,931) - Other comprehensive (loss)/income for the period, net of tax (5,481)(4,675) 26,545 (17,877)(15,249) 17,968 Total comprehensive (loss)/income for the period, net of tax (3,849)(3,283) (4,654) (79,776)(68,050) 2,698 Attributable to: Equity holders of the parent (3,619)(3,087) (4,757) (78,750)(67,174) 779 Noncontrolling interests (230)(196) 103 (1,026)(876) 1,919 (3,849)(3,283) (4,654) (79,776)(68,050) 2,698 WANDA SPORTS GROUP COMPANY LIMITEDUNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION(Amounts in thousands of Euro (“€”) or, for convenience translation, thousands of U.S. Dollar (“$”)) September 30, 2020 December 31, 2019 $€ € ASSETS CURRENT ASSETS Cash and cash equivalents177,844151,701 163,225 Trade and other receivables287,675245,387 264,041 Accrued income1,5241,300 10,498 Contract assets28,69124,473 53,541 Inventories662565 9,395 Income tax receivables5,1084,357 13,594 Other assets76,91765,610 81,001 578,421493,393 595,295 Assets held for sale-- 8,125 578,421493,393 603,420 NONCURRENT ASSETS Longterm receivables11,3469,678 6,808 Investments in associates and joint ventures4,1723,559 3,277 Property, plant and equipment14,30212,200 26,294 Right of use assets30,53526,046 35,249 Intangible assets74,94763,930 486,933 Goodwill274,454234,109 537,585 Contract assets10,7429,163 10,268 Deferred tax assets20,92817,852 23,063 Other assets70,82260,411 63,164 512,248436,948 1,192,641 TOTAL ASSETS1,090,669930,341 1,796,061 WANDA SPORTS GROUP COMPANY LIMITEDUNAUDITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION(Amounts in thousands of Euro (“€”) or, for convenience translation, thousands of U.S. Dollar (“$”)) September 30, 2020 December 31, 2019 $€€ LIABILITIES CURRENT LIABILITIES Trade and other payables87,889 74,969 173,855 Interestbearing liabilities478,855 408,463 204,583 Lease liabilities8,993 7,671 10,041 Accrued expense56,538 48,227 69,846 Deferred income- - 5 Contract liabilities134,254 114,519 199,900 Other liabilities10,246 8,740 19,208 Income tax payable12,504 10,666 21,787 Provisions8,693 7,415 9,234 797,972 680,670 708,459 Liabilities directly associated with the assets held for sale- - 6,975 797,972 680,670 715,434 NONCURRENT LIABILITIES Interestbearing liabilities1,176 1,003 641,085 Lease liabilities22,647 19,318 29,154 Accrued expenses3,586 3,059 3,051 Contract liabilities10,464 8,926 17,271 Deferred tax liabilities22,015 18,779 99,202 Provisions3,295 2,811 3,936 Longterm payroll payables19,113 16,303 15,336 Other liabilities25,816 22,021 43,578 108,112 92,220 852,613 TOTAL LIABILITIES906,084 772,890 1,568,047 EQUITY Share capital1,782,903 1,520,816 1,520,816 Reserves(973,510)(830,404) (813,300) Accumulated deficit(627,507)(535,263) (483,211) Equity attributable to equity holders of the parent181,886 155,149 224,305 Noncontrolling interests2,699 2,302 3,709 TOTAL EQUITY184,585 157,451 228,014 TOTAL LIABILITIES AND EQUITY1,090,669 930,341 1,796,061 WANDA SPORTS GROUP COMPANY LIMITEDUNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS(Amounts in thousands of Euro (“€”) or, for convenience translation, thousands of U.S. Dollar (“$”)) For the three months ended For the nine months ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 $€ € $€ € NET CASH FLOWS USED IN OPERATING ACTIVITIES(15,156)(12,928) (24,493) 8,864 7,561 (23,676) NET CASH FLOWS FROM INVESTING ACTIVITIES358,315 305,643 (6,882) 319,974 272,938 (132,000) NET CASH FLOWS USED IN FINANCING ACTIVITIES(365,600)(311,857) (34,042) (295,081)(251,704) 97,957 NET DECREASE IN CASH AND CASH EQUIVALENTS(22,441)(19,142) (65,417) 33,757 28,795 (57,719) Cash and cash equivalents at beginning of the period196,421 167,547 186,505 191,354 163,225 177,048 Effect of foreign exchange rate changes, net(301)(257) 1,697 (4,113)(3,509) 3,456 Net increase/(decrease) in cash and cash equivalents recorded in assets held for sale4,165 3,553 - (43,154)(36,810) - CASH AND CASH EQUIVALENTS AT END OF PERIOD177,844 151,701 122,785 177,844 151,701 122,785 WANDA SPORTS GROUP COMPANY LIMITEDRECONCILIATION OF NON-IFRS MEASURE – IFRS Profit for the Period and Year to Adjusted EBITDA (unaudited) (Amounts in thousands of Euro (“€”) or, for convenience translation, thousands of U.S. Dollar (“$”)) For the three months ended For the nine months ended September 30, 2020 September 30, 2019 September 30, 2020 September 30, 2019 $€ € $€ € Continued operations Profit/(loss) for the period from continuing operations6,402 5,461 (23,881) 7,829 6,677 (1,516) Income tax3,945 3,365 5,784 10,104 8,619 13,303 Net interest expenses10,144 8,653 18,598 28,001 23,885 36,125 Depreciation and amortization6,318 5,389 4,576 20,023 17,080 14,944 EBITDA from continuing operations26,809 22,868 5,077 65,957 56,261 62,856 Share-based compensation(1)1,011 862 9,028 3,773 3,218 9,758 Expenses or charges relating to acquisition(2)- - - - - 503 Expenses or charges relating to IPO or financing(3)(50)(43) (267) 322 275 3,454 Restructure and disposal of investments/subsidiaries(4)5,792 4,941 - 4,621 3,942 - Loss on foreign exchange and derivatives, and other financial charges(5)1,250 1,066 1,820 8,278 7,061 1,478 Estimated client compensation relating to fraudulent activities(6)- - 1,269 - - 8,298 Expenses or charges relating to Sarbanes-Oxley compliance(7)- - - 522 445 - Remeasurement of contingent consideration(8)(202)(172) - (306)(261) - Net (gain)/loss on disposal of assets (9)(7)(6) - 96 82 - Expenses relating to shareholder class action lawsuit (10)2 2 - 169 144 - Adjusted EBITDA from continuing operations34,605 29,518 16,927 83,432 71,167 86,347 Discontinued operations Loss for the period from discontinued operations(4,770)(4,069) (7,318) (69,728)(59,478) (13,754) Net interest expense, income tax, depreciation and amortization(4)(3) 11,747 28,234 24,084 25,896 EBITDA from discontinued operations(4,774)(4,072) 4,429 (41,494)(35,394) 12,142 Adjustments (11)(2,889)(2,464) 17,913 9,278 7,914 24,053 Adjusted EBITDA from discontinued operations(7,663)(6,536) 22,342 (32,216)(27,480) 36,195 Adjusted EBITDA26,942 22,982 39,269 51,216 43,687 122,542 1. Share-based compensation consisted of share-based compensation and social insurance expenses. This item has been excluded as it is a non-recurring expense. 2. Represents expenses incurred for professional fees such as legal counsel, auditors, underwriters, valuation experts and consultants mainly in respect of acquisitions. 3. Represents professional fees of legal counsel, auditors, due diligence experts, consultants, and related expenses for our IPO and financing. 4. Represents expenses or costs incurred in the restructuring and disposal of investments and subsidiary companies. 5. Represents the loss on foreign exchange, derivative financial instruments at fair value through profit or loss, termination of the cross-currency swap and other financial charges. 6. Represents the amount estimated to be paid by Infront as compensation in connection with fraudulent activities presumably undertaken by a former senior employee of Infront. 7. Represents Sarbanes-Oxley Act consulting charges paid to third parties. 8. Represents fair value change of contingent consideration from business combination. 9. Represents net loss on disposal of property, plant and equipment and intangible assets. 10. Represents legal fees related to shareholder class action, voluntarily dismissed on May 18, 2020. 11. Represents mainly gain on foreign exchange and change in fair value of investments.
Figure 1 Nelligan drill hole plan map and highlighted 2020 assay results.MONTRÉAL, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Vanstar Mining Resources (“Vanstar” or the Company) today announces remaining assay results from the 2020 exploration diamond drilling program program completed by its partner IAMGOLD Corporation ("IAMGOLD") at its Nelligan joint venture project (IAMGOLD: 75%, Vanstar: 25%), located 60 kilometres southwest of Chibougamau, Quebec, Canada. The Company is reporting assay results from the final seven (7) diamond drill holes totaling 2,602 metres completed as part of the summer 2020 drilling program. Multiple drill holes returned substantial gold mineralization (up to 7.62 g/t AU) over broad widths. The assay results reported herein are provided in Table 1 below and include the following highlights: (A drill hole plan map is attached to this news release.)Renard West Zone: * Drill hole NE-20-161: 27.0 metres grading 1.11 g/t Au and 36.1 metres grading 1.13 g/t Au and 22.1 metres grading 1.07 g/t Au * Drill hole NE-20-164: 21.8 metres grading 2.00 g/t Au includes: 4.5 metres grading 5.80 g/t Au and 23.2 metres grading 1.72 g/t Au includes: 1.5 metres grading 6.81 g/t AuRenard Zone: * Drill hole NE-20-159: 33.0 metres grading 0.99 g/t Au and 18.0 metres grading 1.55 g/t Au * Drill hole NE-20-162: 17.3 metres grading 7.62 g/t Au (4.49 g/t when capped at 30 g/t) includes: 1.5 metres grading 66.1 g/t Au and 42.0 metres grading 1.15 g/t Au and 15.6 metres grading 1.39 g/t AuLiam Zone: * Drill hole NE-20-160: 8.5 metres grading 4.16 g/t Au includes: 1.3 metres grading 19.8 g/t AuThe Nelligan Gold project (on a 100% basis) hosts Inferred Mineral Resources containing 3.2 million ounces of gold grading 1.02 g/t Au (see news releases dated October 22, 2019 and February 18, 2020). The 2020 diamond drilling program was designed to infill selected areas of the deposit as well as step-out at depth and along strike at the Renard Zone to evaluate the potential for resource extensions.“We are excited to report these excellent results which are accretive to the existing resources estimate and once again demonstrate the potential of the vast gold-bearing hydrothermal system present on the Nelligan property. Our assessments to date lead us to believe that the Nelligan property contains a deposit that has the potential to become economic.’’ said Jonathan Hamel, Interim President and CEO of Vanstar. ‘’The next drilling campaign is expected to begin in January 2021. Our partner IAMGOLD has done excellent work and we are looking forward to the upcoming campaign on Nelligan”.In a separate press release, Craig MacDougall, Executive Vice President, Growth for IAMGOLD, stated: “These remaining results continue to demonstrate continuity of mineralization from the infill drill holes completed in the resource area, and importantly, also continue to demonstrate that mineralization extends well beyond the area of the current modeled resource to the west for at least 500 to 700 metres. The mineralization and associated alteration intersected to date along this western extension appears similar to that observed in the current estimated resource and has potential to expand existing project resources with additional drilling. I must congratulate the exploration team for their perseverance to safely and successfully complete the 2020 exploration program with the numerous challenges posed by the global COVID-19 crisis.”Next Steps With the results of the 2020 exploration drilling program now in hand, data compilation is underway to update the deposit model to help guide future drilling programs. Planning has commenced for the 2021 exploration program, which is expected to include continued drilling to expand the known resources.Additional metallurgical testing is also currently underway to provide further information and help confirm the metallurgical recoveries achieved from previous preliminary test work in order to further refine options for the process flow sheet parameters. Results of this testing program are expected in early 2021.Regional exploration activities and future exploration programs continue to be guided by the ongoing incorporation and compilation of exploration data to refine geological, geochemical and structural models to help identify and prioritize targets for evaluation on the large project land package.About the Nelligan ProjectThe Nelligan project is underlain by a portion of the Caopatina segment of the North Volcanic Zone of the Abitibi Belt of the Superior Province. The property is centered on the E-W Druillette syncline with sediments of the Caopatina Formation bounded to the north and to the south by volcanic rocks of the Obatogamau Formation. The North and South portions of the property are occupied by granodioritic to tonalitic intrusions. The project is transected by numerous regional and local structures and deformation zones which can be important in the localization of gold mineralization.Gold showings of the area are observed broadly as two styles of mineralization: 1) Quartz-sulphide vein type, and 2) disseminated sulphide (pyrite) mineralization in hydrothermally altered units. Mineralization observed on the Nelligan project is dominated by the latter and is characterized by hydrothermal alteration of the host meta-sedimentry units displaying variable carbonatization, sericite, phlogopite and pervasive silicification; and associated with widespread disseminated pyrite, varying from 1% to locally 15%, trace molybdenite and occasionally fine grains of visible gold. Mineralization associated with the estimated mineral resources has been intersected in drilling over a strike length of more than 1.5 kilometre, and to a depth of over 350 vertical metres.As of December 31, 2019, IAMGOLD reported (on a 100% basis) inferred mineral resources of 97.0 million tonnes grading 1.02 g/t Au for 3.2 million contained ounces (see news releases dated October 22, 2019 and February 18, 2020). In 2019 the Nelligan Gold Project was awarded the Discovery of the Year by the Association de l'Exploration Minière du Québec (“AEMQ”).The Nelligan Gold Project is held under an earn-in option to joint venture agreement with Vanstar (IAMGOLD: 75%; Vanstar: 25%) where IAMGOLD has a further option to acquire an additional interest of 5%, to hold an 80% interest in the Nelligan project by completing and delivering a Feasibility Study. Vanstar would then retain a 20% undivided non-contributory carried interest until the commencement of commercial production, after which: (1) the 20% undivided interest becomes participating; and (2) Vanstar will pay its attributable portion of the total development and construction costs to the commencement of commercial production from 80% of its share of any ongoing distributions from the Joint Venture. Vanstar will also retain a 1% NSR royalty on selected claims of the project. Table 1 Nelligan Project Drilling Results - 2020 Drilling program Hole No.UTM NAD83 Zone18AZDIPEOHfromToIntervalTrue Width (1)Au (2) (3)NOTE EastingNorthingElevation(°)(°)(m)(m)(m)(m)(m)(g/t) NE-20-159523028.825473798.75374.34330-50480.00201.00213.0012.0010.391.02RENARD ZONE 220.50226.506.005.200.78 234.00240.006.005.200.87 246.00279.0033.0028.580.99 Including (3) 253.50269.4015.9013.771.42 285.00292.507.506.500.85 304.75328.0023.2514.940.85 363.00364.501.500.962.70 376.50394.5018.0015.591.55 Including (3) 382.50391.509.007.792.58 464.10480.0015.9012.181.15 NE-20-160522937.005473541.05381.11330-5074.0046.5055.008.506.514.16LIAM ZONE Including (3) 52.7053.951.250.9619.75 NE-20-161522122.555473790.66372.10330-48432.0093.00120.0027.0017.361.11RENARD WEST ZONE Including (3) 100.35107.306.954.471.74 145.50154.509.006.360.56 160.50163.503.002.121.63 169.50205.6036.1025.531.13 Including (3) 192.20205.6013.409.481.63 222.10244.1522.0515.591.07 263.65265.151.501.063.41 296.30302.306.004.240.57 NE-20-162522949.825473719.62376.43330-50580.00119.27132.0012.7311.021.44ZONE 36 Including (3) 130.50132.001.501.238.32 189.71207.0017.2914.977.62 (4.49 capped at 30g/t)RENARD ZONE Including (3) 204.00205.501.501.2366.10 217.00234.0017.0013.020.95 265.50286.0020.5015.700.70 322.00340.1218.1213.880.51 348.00390.0042.0032.171.15 428.40444.0015.6011.951.39 491.60516.0024.4018.690.64 526.50530.6184.108.40.206 561.00564.003.002.601.75 NE-20-163 A, B522674.715473502.97376.92330-50181.50Abandonned due to excessive deviation NE-20-164521996.395473697.84375.04330-45450.00150.72172.5021.7814.002.00RENARD WEST ZONE Including (3) 155.00159.504.502.895.80 232.00247.0015.0011.490.58 265.50277.5012.009.190.50 286.50309.7023.2019.001.72 Including (3) 304.30305.801.501.236.81 336.00346.5010.508.600.83 354.00371.5517.5515.200.56 NE-20-165521569.415472937.62380.56330-48404.00No significant results 2,601.50 Notes: 1. True widths are estimated at 64 to 87% of the core interval. 2. Drill hole intercepts are calculated with a lower cut of 0.50 g/t Au and may contain lower grade interval of up to 5 metres in length. They are generally reported with a minimum g*m (or Metal factor) of 5. 3. Assays intervals are reported uncapped and capped at 30 g/t Au and high grade sub-intervals are highlighted. Figure 1 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0dadec41-c4f1-49e3-8a8f-1149ad9f4288This press release was read and approved by Mr. Gilles Laverdière, consulting geologist and qualified person under the NI 43-101 Canadian standard.The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the TSX Venture Exchange Policies) do not accept any responsibility for the truth or accuracy of its content. Source:Jonathan Hamel Interim President and CEO 514-907-9016 x113 firstname.lastname@example.org
* Capital to fund construction of RNA synthesis GMP facility in San Diego * Supports company’s goal of having 10 programs entered into clinical trials by 2024SUWON, Republic of Korea, Dec. 01, 2020 (GLOBE NEWSWIRE) -- OliX Pharmaceuticals, Inc. (KOSDAQ: 226950), a leading developer of RNAi therapeutics, announced today that it recently completed a capital raise of 41.5 billion won (approximately $37.2 million) to support the company’s U.S. expansion and advance its pipeline globally.The capital will fund construction of an RNA synthesis Good Manufacturing Practice (GMP) facility at the company’s San Diego site, which will initially produce investigational therapeutics in-house for clinical testing with the potential to manufacture commercial RNAi therapeutics in the future. The investment will also provide R&D and operating funds to advance the company’s core pipeline, including OLX101A for hypertrophic scars, OLX301A for age-related macular degeneration and OLX301D for subretinal fibrosis (both in collaboration with Laboratoires Théa outside Asia-Pacific) as well as advancing the company’s GalNAc-based liver therapeutic pipeline.The paid-in capital increase totalled 41.5 billion won (approximately $37.2 million) with 30% in common stocks (approximately $11.2 million) and 70% in convertible bonds (approximately $26 million). Investors included Kiwoom Investment, NH Investment & Securities, Aju IB Investment and Widwin Investment, all based in South Korea.“This capital investment strengthens our financial position and R&D programs, and we are excited to enter this next phase of growth as we strive to achieve our goal of having 10 programs entered into clinical trials by 2024,” said Dong Ki Lee, Ph.D., Founder and Chief Executive Officer. “We are grateful to the institutional investors who have shown confidence and a significant commitment to our company’s growth potential and future.”Asymmetric small interfering RNAAsymmetric small interfering RNA (asiRNA) is the next generation of RNAi therapeutics that offers efficient gene regulation. In comparison to existing siRNA therapeutics, OliX Pharmaceuticals’ asiRNA shows comparable gene silencing and significantly reduces siRNA-mediated side effects such as off-target gene silencing and immune stimulation.About OliX PharmaceuticalsOliX Pharmaceuticals is a clinical stage pharmaceutical company developing therapeutics against a variety of disorders by down-regulating expression of disease-causing genes, based on its own proprietary RNAi technology. The Company’s core RNAi platform, asymmetric siRNA (asiRNA), is a unique gene silencing technology based on RNA interference (RNAi), which is considered as the most efficient gene silencing technology. Based on asiRNA technology, OliX has developed cell penetrating asiRNA (cp-asiRNA), a therapeutic RNAi platform to effectively target locally administrable diseases, such as hypertrophic scar, dry and wet age-related macular degeneration (AMD), subretinal fibrosis, idiopathic pulmonary fibrosis (IPF), and neuropathic pain. OliX has also developed another therapeutic RNAi platform, GalNAc-asiRNA, to target a variety of liver diseases.To learn more about the company, visit: https://www.olixpharma.com/eng/ To learn more about RNAi technology, visit: https://www.olixpharma.com/eng/rnd/rnd01.phpMedia Contact:Jon Yu Westwicke/ICR PR Phone: +1.475.395.5375 email@example.com
President-elect Joe Biden's promise to end U.S. fossil fuel subsidies worth billions of dollars a year for drillers and miners could be hard to keep due to resistance from lawmakers in a narrowly divided Congress, including from within his own party. The challenge reflects just one of the obstacles that Biden will need to overcome as he seeks to usher in sweeping measures to combat climate change and transform the nation’s economy to net-zero emissions within three decades. Biden has said axing fossil fuel subsidies will generate money to help pay for his broader $2 trillion climate plan.
Jinhua, China, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the “Company” or “Kandi”) responded today to a report issued by Hindenburg Research with respect to Kandi and its operations. Hindenburg Research, as it disclosed, has taken a short position in shares of Kandi. Kandi believes that the report contains numerous errors, misstatements of historical facts, inaccurate conclusions, and superfluous opinions. Kandi takes seriously any accusations of impropriety and intends to address the key issues raised by the report. The Company plans to study the report in depth, isolate the key inaccuracies, and prepare detailed explanations that will be presented in the near future. About Kandi Technologies Group, Inc.Kandi Technologies Group, Inc. (KNDI), headquartered in Jinhua Economic Development Zone, Zhejiang Province, is engaged in the research, development, manufacturing, and sales of various vehicular products. Kandi conducts its primary business operations through its wholly-owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd. ("Kandi Vehicles") and its subsidiaries including Zhejiang Kandi Smart Battery Swap Technology Co., Ltd, SC Autosports, LLC (d/b/a Kandi America), the wholly-owned subsidiary of Kandi in the United States and Fengsheng Automobile Technology Group Co., Ltd (formerly known as Kandi Electric Vehicles Group Co., Ltd., the “Affiliate Company”). Kandi Vehicles has established itself as one of China's leading manufacturers of pure electric vehicle parts and off-road vehicles. In 2013, Kandi Vehicles and Geely Group, China's leading automaker, jointly invested in the establishment of the Affiliate Company in order to develop, manufacture and sell pure electric vehicle ("EV") products. Geely Group (including its affiliate) and Kandi Vehicles currently holds 78% and 22% of the equity interests in the Affiliate Company, respectively. The Affiliate Company has established itself as one of the driving forces in the development and the manufacturing of pure EV products in China. More information about KNDI is available on the Company's corporate website at http://www.kandivehicle.com. The Company routinely posts important information on its website. Safe Harbor StatementThis press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the applicable securities laws, the Company does not assume a duty to update these forward-looking statements. Follow us on Twitter: @ Kandi_Group Contacts: Kandi Technologies Group, Inc. Ms. Kewa Luo +1 (212) 551-3610 IR@kandigroup.comThe Blueshirt Group Mr. Gary Dvorchak, CFA firstname.lastname@example.orgMs. Susie Wang email@example.com
Razor Jacket is an Isolate Lab capable of producing up to 250 kilograms per month of 99.9% pure medical grade isolateDALLAS, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Rapid Therapeutic Science Laboratories, Inc. (OTC: RTSL) an SEC fully-reporting, growth-oriented aerosol manufacturing and marketing company focused on employing FDA-approved Metered Dose Inhaler (MDI) technology to deliver cannabinoid compounds, such as CBD, CBG, and CBN, announced today that it has closed on a transaction acquiring all of the assets of Razor Jacket, LLC based in Hillsboro, Oregon. The transaction is valued at $14 million in cash and stock which includes all potential future earnouts of $13.2 Million. An “isolate” is the ultra-pure form of any single cannabinoid, having no other chemical ingredients. This vertical acquisition assures RTSL the ability to manufacture “in house” any combination of CBD, CBG, CBN and/or terpenes up to a total of 250 kilograms a month of 99.9% pure isolate. Any isolate not consumed in RTSL’ primary products will be marketed as medical or pharmaceutical grade isolate directly to the health and wellness space. The new lab being relocated to North Texas assures RTSL can make more than 3,000,000 MDI units annually without outsourcing. Further, the acquisition will reduce RTSL’s cost of goods sold by approximately 50% per MDI unit.RTSL’s CEO, Donal R. Schmidt, Jr. states, “this acquisition does a lot for our growing company. We not only assure our supply of cannabinoids, but we pick up additional talent. Ryan Johnson is coming on as our COO responsible for marketing, and Frank Gill will be running the isolate lab. Both men are under three (3) year contracts. As such, we inherit a formidable marketing and scientific team with deep and important ties to the pharmaceutical space. With Ryan’s addition, I can concentrate more on strategic matters such as working on moving RTSL to a national exchange, exploring international manufacturing and initiating research.”RTSL’s new COO, Ryan Johnson states, “The first order of business is getting the new lab setup when it arrives from Oregon in about 30 days. We are taking steps to revamp our medical marketing process. During the recent Covid-19 pandemic, RTSL was able to ship about 8,000 units on a major contract; however, the remaining contact of 192,000 units has been abandoned by the distributor. The loss of business is something many business owners faced during this global pandemic. Looking forward, our projections for 2021 are to produce and sell over 2 Million MDI units, so we plan to rapidly scale up sales and production. Additionally, we are looking at filing three (3) patents in the near term and there will be more on this cutting-edge technology soon. As such, we have lots of work in front of us and it is an exciting time to be in this space.”About Rapid Therapeutic Science Laboratories, Inc. (OTC: RTSL)RTSL has developed and perfected a new method of formulating and manufacturing pressurized metered dose inhalers (pMDI) that contain and properly aerosolize proprietary formulae consisting of one or more cannabinoid compounds, such as CBD, CBG, and/or CBN. The Company’s Rxoid™ and nhāler product lines are manufactured in compliance with Good Manufacturing Practices (GMP), on FDA-listed equipment. Note that while cannabinoids such as CBD, CBG and CBN are not yet approved by the FDA, under the laws of Texas and of many other states, it is legal to consume, sell and export them to legal jurisdictions.Properly formulated MDI deliver Active Pharmaceutical Ingredients (API) (drugs, nutraceuticals or bioceuticals) through the pulmonary tract. An MDI is generally the most efficient delivery method for an API other than an IV. In addition, MDIs are less expensive than any other route of delivery, based on the net cost per bioactive mg as tested in blood serum levels. However, MDIs are expensive to formulate and difficult to manufacture in order to deliver cannabinoid compounds to the level required by the FDA and FTC truth in labelling laws. Ideally, a properly formulated, properly manufactured MDI containing cannabinoids will deliver exactly the same dose on its first use as well as its 100th use.RTSL’s MDIs are a safe and technically superior replacement for vape pens, mods and all-in-one products because they use no heat, function perfectly without using dangerous ingredients, and deliver a 98% bioavailable dose of CBD and/or cannabinoids directly to the systemic blood stream. This allows RTSL to manufacture a scientifically sound and superior alternative to all other cannabinoid vaping systems in a market estimated to be $5 billion in annual sales.RTSL products will continue to be sold directly to pharmacies, physicians and other healthcare providers who treat GAD, PTSD and other stress and anxiety disorders. nhāler can be purchased online at www.nhaler.com. Rxoid™ currently is unavailable to purchase as its website is being updated. RTSL also produces white label products for select commercial clients.Now RTSL is entering into the quickly evolving medical grade isolate manufacturing space. RTSL will manufacture CBD, CBG, CBN, and various other minor cannabinoids and terpenes under proprietary processes as it increases its ever growing list of formulas for support of various treatment regiments that physicians and health care providers are beginning to recommend in conjunction with more traditional mainstream medicationsWe encourage all individuals to do their own research regarding cannabinoids, the use of MDI and our products. RTSL makes no claims about therapeutic benefits of its products. None of our products are intended to diagnose, treat, cure, or prevent any disease. Always consult a physician prior to using any cannabinoid product. If you experience any adverse reaction stop use immediately and seek appropriate medical attention. RTSL’s products are not approved by the FDA or under the Food Drug & Cosmetics Act (FD&C Act).Visit our corporate website at www.rtslco.com.Forward-Looking Statements This press release may contain forward-looking statements. In particular, when used in the preceding discussion, the words “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of RTSL, its divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in filings made by RTSL with the Securities and Exchange Commission, including, but not limited to, in the “Risk Factors” sections in its Form 10-Ks and Form 10-Qs and in its Form 8-Ks, which we have filed, and file from time to time, with the U.S. Securities and Exchange Commission. These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on RTSL’s future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. RTSL cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.Contact: Donal (Don) R. Schmidt, Jr. Chairman and CEO firstname.lastname@example.org Phone: 800-497-6059 Fax: 877-676-8527
Achilles Therapeutics Appoints Robert Coutts as Chief Financial OfficerStevenage, UK 1 December 2020 – Achilles Therapeutics (“Achilles”), a clinical-stage biopharmaceutical company developing precision T cell therapies to treat multiple types of solid tumours, today announced the appointment of Robert Coutts as Chief Financial Officer. Robert has served as Finance Director at Achilles since the Company’s formation in 2017.“Robert has been part of the Achilles team since the beginning and I’m delighted to welcome him to his new role,” said Dr. Iraj Ali, CEO of Achilles Therapeutics. "Robert has deep expertise in building and developing operating businesses. His experience, leadership and commitment to the Company will be integral as our potentially transformative precision TIL therapy progresses in the clinic in multiple solid tumor indications.”“I have been fortunate enough to be a part of the Company's evolution over the last few years, and I look forward to continuing to support Iraj, the management team and Board in our efforts to develop much needed novel cancer therapies for patients,” said Robert Coutts, CFO of Achilles Therapeutics. “As the Company continues to advance its pipeline, the finance function will be an important strategic partner across the Company, including research and development, manufacturing and clinical operations."Prior to joining Achilles, Robert worked for Syncona Ltd leading the finance functions of new entities within its life science portfolio. He previously served in roles of increasing responsibility at the Wellcome Trust. Robert qualified as a chartered accountant with KPMG where he spent time in both their Audit and Transactions & Restructuring teams. He has an MSc in Management from Cass Business School and a BA in Politics, Philosophy and Economics from Oxford University.– Ends –Notes for Editors:About Achilles TherapeuticsAchilles Therapeutics is a clinical stage, biopharmaceutical company developing precision T cell therapies targeting clonal neoantigens: protein markers unique to the individual that are expressed on the surface of every cancer cell. The Company has two ongoing Phase I/IIa trials, the CHIRON trial in patients with advanced non-small cell lung cancer (NSCLC) and the THETIS trial in patients with recurrent or metastatic malignant melanoma. Achilles uses DNA sequencing data from each patient, together with the proprietary PELEUS™ bioinformatics platform, to identify clonal neoantigens specific to that patient, and then develop personalised T cell-based therapies specifically targeting those clonal neoantigens.For further information please visit the Company’s website at: www.achillestx.com. Further information:Achilles Therapeutics Dr Iraj Ali – Chief Executive Officer +44 (0)1438 906 906 email@example.comJulia Wilson – Head of Communications +44 (0)7818 430877 firstname.lastname@example.orgConsilium Strategic Communications Mary-Jane Elliott, Sukaina Virji, Melissa Gardiner +44 (0) 203 709 5000 email@example.com
MONTREAL, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Goodfood Market Corp. (“Goodfood” or “the Company”) (TSX: FOOD), a leading online grocery company in Canada, announced the closing of new bank financing totalling $46 million, including a $27.5 million revolving facility (up from $10 million), a $12.5 million term loan facility, and $6 million in additional short-term financing. The financing transaction was led by Desjardins Capital Markets with participation from Investissement Québec. Goodfood will use the funds to support the continued growth of the Company through expansion and automation capital expenditures, refinancing of existing credit facilities and general corporate purposes. The facilities feature flexible and improved financial conditions, including variable interest rates of banker’s acceptance rate plus 250 basis points, and come to maturity in November 2023.“We are thrilled to have gained access to increased debt financing to support our strategic plan. Combined with our cash balance, we now have access to more than $125M of liquidity, providing great flexibility to propel the business in its next phase of growth,” said Philippe Adam, Chief Financial Officer of Goodfood. “This non-dilutive financing with an attractive cost of capital also provides us with the means to continue to strategically manage our capital allocation and working capital,” concluded Mr. Adam.“As we continue to penetrate and gain market share in the online grocery industry, we are very pleased to count on the support of tremendous and supportive partners such as Desjardins and Investissement Québec,” added Jonathan Ferrari, Chief Executive Officer of Goodfood. “We are excited by the opportunity ahead of us and the favorable trends stemming from the acceleration of online grocery and meal solutions adoption by Canadians. With this financing transaction and our consistently strong execution, we are ideally positioned to cement our leadership in this high-growth market,” concluded Mr. Ferrari.ABOUT GOODFOOD Goodfood (TSX:FOOD) is a leading online grocery company in Canada, delivering fresh meal solutions and grocery items that make it easy for members from across Canada to enjoy delicious meals at home every day. Goodfood’s mission is to make the impossible come true, from farm to kitchen, by enabling members to complete their weekly meal planning and grocery shopping in minutes. Goodfood members have access to a unique selection of online products as well as exclusive pricing made possible by its world class direct-to-consumer fulfilment ecosystem that eliminates food waste and costly retail overhead. The Company’s main production facility and administrative offices are based in Montreal, Québec, with five additional production facilities located in the provinces of Québec, Ontario, Alberta, and British Columbia. A seventh production facility located in the province of Ontario is currently under construction and is scheduled to commence operations in 2021. As at August 31, 2020, Goodfood had 280,000 active subscribers. www.makegoodfood.caExcept where otherwise indicated, all amounts in this press release are expressed in Canadian dollars.For further information:Investors and Media Philippe Adam Chief Financial Officer (855) 515-5191 IR@makegoodfood.ca Roslane Aouameur Director, FP&A and Investor Relations (855) 515-5191 IR@makegoodfood.ca FORWARD-LOOKING INFORMATION This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking information includes, but is not limited to, information with respect to our objectives and the strategies to achieve these objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. This forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, and “continue”, as well as the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Forward-looking information is provided for the purposes of assisting the reader in understanding the Company and its business, operations, prospects and risks at a point in time in the context of historical and possible future developments and therefore the reader is cautioned that such information may not be appropriate for other purposes.Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those that are disclosed in, or implied by, such forward-looking information. These risks and uncertainties include, but are not limited to, the following risk factors which are discussed in greater detail under “Risk Factors” in the Company’s Annual Information Form for the year ended August 31, 2020 available on SEDAR at www.sedar.com: limited operating history, negative operating cash flow, food industry, quality control and health concerns, regulatory compliance, regulation of the industry, public safety issues, product recalls, damage to Goodfood’s reputation, transportation disruptions, product liability, ownership and protection of intellectual property, evolving industry, unionization activities, reliance on management, factors which may prevent realization of growth targets, competition, availability and quality of raw materials, environmental and employee health and safety regulations, online security breaches and disruption, reliance on data centers, open source license compliance, future capital requirements, operating risk and insurance coverage, management of growth, limited number of products, conflicts of interest, litigation, catastrophic events, risks associated with payments from customers and third parties, being accused of infringing intellectual property rights of others and, climate change and environmental risks. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, readers are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Certain assumptions were made in preparing the forward-looking information concerning the availability of capital resources, business performance, market conditions, and customer demand. In addition, information and expectations set forth herein are subject to and could change materially in relation to developments regarding the COVID-19 pandemic and its impact on product demand, labour mobility, supply chain continuity and other elements beyond our control. Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and we do not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.