The New Service Allows MBA Students to Get Answers to their Important Questions

LOS ANGELES, CA / ACCESSWIRE / July 31, 2017 / Grad Coach, a leading postgraduate support provider, is pleased to announce the launch of a free MBA Q&A service that allows MBA students to get answers to their burning questions, all at no cost.

To check out the new Q&A section and/or submit a question, please visit the Grad Coach website at https://grad.coach/qa/.

Derek Jansen, founder of Grad Coach, commenting on the rationale behind the service, said, “Through our coaching service, we’ve learned that many students have questions regarding assignment writing, research and general academic practice that are currently going unanswered – particularly for part-time and distance education-based students.” This inspired Jansen to develop the new Q&A service – so that MBA students can have a free and supportive place to go to get the answers that they need.

Submitting a question is easy; students simply need to fill out a short contact form along with their question on the Grad Coach website. Skilled and experienced MBA tutors and alumni then review the question and answer it in the form of a blog post or video.

To watch a recent YouTube video that answers the recently submitted question, “What’s the best way to manage referencing in my MBA assignments?” please check out https://www.youtube.com/watch?v=C0RrNu89oAM.

While Jansen and his team cannot guarantee that they will answer every single question that is submitted, they prioritize the questions that will provide the most value to the largest number of students. Students who submit a question are notified by email when the response is published, and the student’s personal details remain completely confidential.

The fact that Jansen and his team have found yet another way to help MBA students to succeed will not surprise the many satisfied people who have used the Grad Coach service. Since launching, Grad Coach has earned a well-deserved reputation for its knowledgeable and supportive assistance on a number of topics, as evidenced by the glowing reviews on their Facebook page.

“In short, we do whatever it takes to help students achieve their academic goals,” Jansen said.

“This includes everything from helping students understand technical concepts and theories, through to improving the quality of their academic writing, argument development and presentation, as well as optimising their general approach to studying, learning and writing.”

About Grad Coach:

Grad Coach provides personalized, 1-on-1 tutoring and support to MBA and social science Master’s students around the world. To learn more, visit https://grad.coach/.

Contact:

Derek Jansen
hello@grad.coach
0844055688

SOURCE: Grad Coach

ReleaseID: 470081

New Adult Use Program Establishes Massachusetts as a Regional Destination for Cannabis on the East Coast

DENVER, CO / ACCESSWIRE / July 31, 2017 / AmeriCann, Inc. (OTCQX: ACAN), an Agricultural-Technology company that is developing next generation sustainable, state-of-the-art medical cannabis cultivation properties, announced strong support for the landmark adult use cannabis bill signed by Massachusetts Governor Charlie Baker on July 28, 2017.

The new law implements the successful ballot measure approved by voters in November of 2016. Massachusetts is the first state in the eastern U.S. to legalize the adult use of marijuana.

AmeriCann’s flagship project, the Massachusetts Medical Cannabis Center (“MMCC”), is 47 miles from Boston in the midst of the rapidly growing Massachusetts medical cannabis market. The MMCC project is approved for 1 million square feet, which will be developed in phases and is expected to be one of the most technologically advanced cultivation facilities in the nation.

“We believe Massachusetts will be a dynamic developing cannabis market for many years, and that our MMCC project will become a center of excellence for quality, consistency and efficiency and play an important part in helping to provide the cannabis infrastructure the Commonwealth will require,” commented AmeriCann CEO Tim Keogh. “Our Company made a commitment in 2014 to make a major investment in the future of the Massachusetts cannabis market and it appears to have been a very good decision,” continued Mr. Keogh.

The Commonwealth currently lacks the infrastructure to support the anticipated demand. According to the Denver Post, Massachusetts has only several hundred thousand square feet of cultivation infrastructure, but will require several million additional square feet.

“Based on our first hand experience in Colorado we believe the bill Governor Baker signed is well-drafted and will usher in an exciting new industry in the Commonwealth that will have a number of benefits,” added Tim Keogh, a Massachusetts native and President and CEO of Colorado-based AmeriCann.

“As the industry develops it will create thousands of new jobs, hundreds of millions in much needed tax revenue and provide welcomed medical and other benefits for the residents of Massachusetts. And while tax revenue is what people focus on, the job creation is in many ways the more important driver for the economy,” continued Mr. Keogh.

Colorado implemented a program for adult use cannabis in 2014 and the results have exceeded all projections with 2017 cannabis sales in Colorado on a pace to exceed $1.5 billion, with tax contributions of over $250 million.

Massachusetts introduced a voter approved medical cannabis program in 2014 that has resulted in over 40,000 registered patients and is expected to generate over $100 million in sales in 2017. Industry experts believe with the addition of adult use, the Massachusetts cannabis market will expand to over $1.6 billion by 2021.

Besides Massachusetts, California, Maine, and Nevada also voted to legalize adult marijuana in November 2016. Nevada is the only state that has set a regulatory structure and commenced sales. In the first weekend of Adult-Use sales in Nevada its new program generated over $500,000 in tax revenue for the state and dispensaries were experiencing long lines and shortages of products for the 47 dispensaries that were open.

About AmeriCann

AmeriCann (OTCQX: ACAN) is a publicly traded Agricultural Technology (Ag-Tech) company that is developing a new generation of sustainable, state-of-the-art medical cannabis cultivation and processing properties.

AmeriCann, Inc. is a Certified B Corp, an acknowledgment of the company’s commitment to social and environmental ethics, transparency and accountability. AmeriCann became the first public cannabis company to earn this respected accreditation. More information about the Company is available at: www.americann.co or follow AmeriCann on Twitter @ACANinfo

About Massachusetts Medical Cannabis Center (MMCC)

The Massachusetts Medical Cannabis Center is approved for nearly 1,000,000 square feet of medical cannabis cultivation and processing in Freetown, Massachusetts. The state-of-the-art, sustainable, greenhouse project will consist of multiple planned phases for tenants in the Massachusetts medical marijuana market.

AmeriCann’s Cannopy System uniquely combines expertise from traditional horticulture, lean manufacturing, regulatory compliance and cannabis cultivation to create superior facilities and procedures. The company is planning to replicate the Canopy platform in additional states.

The first phase of the project consists of 160,000 sq. ft. of cultivation and processing infrastructure. AmeriCann can expand the first phase to approximately 600,000 sq. ft., based on patient demand.

About Solanna

AmeriCann has developed and owns “Solanna”, a new comprehensive line of nutraceutical-grade cannabis infused products. AmeriCann has created the brand, packaging concepts and invested significantly in Standard Operating Procedures and Good Manufacturing Practices to ensure safety, consistency and efficacy across the product offering.

The intellectual property for Solanna will be licensed by AmeriCann to regulated cannabis businesses and will initially focus on providing healthier alternatives to smoking that include:

Capsules
Topical lotions and balms
Sublingual tinctures
Oral dissolving film
Trans-dermal applications

The Company plans to expand the product line to include edible products, health drinks, and branded concentrates. The products are designed to allow consumers to manage dosage through micro-dosing and to improve efficacy by incorporating blends of other plants, essential oils and other supplements that enhance and compliment the benefits of cannabis.

The Solanna line of products will be offered exclusively through AmeriCann’s Preferred Partners.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project,” “prospects,” “outlook,” and similar words or expressions, or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could” are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional uncertainties that could impact the Company’s forward-looking statements, please see the Company’s recently filed Registration Statement on Form S-1, which the Company has filed with the SEC and which may be viewed at www.sec.gov.

Contact Information:

Corporate:

AmeriCann, Inc.
3200 Brighton Blvd. Unit 114
Denver, CO 80216
(303) 862-9000
info@americann.co
www.americann.co
@ACANinfo on Twitter

Investors:

Hayden IR
hart@haydenir.com
(917) 658-7878

SOURCE: AmeriCann, Inc.

ReleaseID: 470083

FORT LAUDERDALE, FL / ACCESSWIRE / July 31, 2017 / Attorneys with the Fort Lauderdale law firm Schlesinger Law Offices won the chance to re-try a lawsuit against R.J. Reynolds Tobacco Company and Philip Morris USA, Inc. after the Fourth District Court of Appeal reversed a jury verdict that originally favored the two tobacco companies.

The plaintiff behind the lawsuit, Fannie Collar, claims the defendants’ tobacco products caused her severe pulmonary health issues, which included the removal of a lung. Collar smoked for approximately 50 years.

After receiving a verdict in favor of the defendants during the first trial, the court of appeals determined that two conflicting rulings occurred during the original trial which were inherently inconsistent. The first ruling determined that Collar’s pulmonologist wasn’t qualified to state that she was addicted to nicotine, yet another ruling allowed the same doctor to state Collar could quit smoking if she was motivated enough. This disagreement triggered the Fourth District Court of Appeal’s reversal.

Attorney Jonathan Gdanski explained the decision reversing the verdict is both a significant and unique win in tobacco litigation, as many plaintiffs don’t live long enough to see their day in court let alone appeal adverse decisions.

“The court’s ruling gives us a fair chance to hold these tobacco companies liable and to properly present the facts to the jury,” said Gdanski.

Schlesinger Law Offices has been at the forefront of tobacco lawsuits in the state of Florida and nationwide since 1998, when the firm participated in the $260 billion master tobacco settlement. The firm’s attorneys have aggressively litigated on behalf of their clients and continue to hold tobacco companies responsible for both past and present deceptive marketing tactics. The firm is currently leading a class-action lawsuit against Reynolds American Inc. and Santa Fe Natural Tobacco Company for fraudulently advertising the popular American Spirit cigarettes as “organic,” “additive-free” and “natural” to imply they are healthier or less harmful than others.

SOURCE: Schlesinger Law Offices

ReleaseID: 470087

NEW YORK, NY / ACCESSWIRE / July 31, 2017 / Mercury General Corporation (NYSE: MCY) will be discussing their earnings results in their Q2 Earnings Call to be held July 31, 2017 at 1:00 PM Eastern Time.

To listen to the event live – visit https://www.investornetwork.com/company/1123.

Replay Information

The replay will be available online at https://www.investornetwork.com/company/1123.

About Investor Network

Investor Network (IN) is a new financial content community, serving millions of unique investors market information, earnings, commentary and news on the what’s trending. Dedicated to both the professional and the average traders, IN offers timely, trusted and relevant financial information for virtually every investor. IN is an Issuer Direct brand, to learn more or for the latest financial news and market information, visit www.investornetwork.com. Follow us on Twitter @investornetwork.

SOURCE: Investor Network

ReleaseID: 470080

VANCOUVER, BC / ACCESSWIRE / July 31, 2017 / Enertopia Corporation (OTCQB: ENRT) (CSE: TOP) (the “Company” or “Enertopia”) provides the following update. Ms. Bal Bhullar is resigning as CFO and Director of Enertopia effective July 31, 2017. Bal has been CFO of Enertopia for over 9 and half years. Bal will stay on as a consultant and we look forward to her continued support during the transition period. Robert McAllister will be named as interim CFO for what is expected to be a short period of time as the Company evaluates several candidates, and positions itself for long-term growth.

“Firstly, I wish to thank Ms. Bal Bhullar for her dedicated work for the last nine and half years. Bal is dedicating her time on her new natural supplement company and Enertopia wishes her nothing but the best as she moves her business forward.”

“I would like to take this opportunity to thank Robert McAllister and Enertopia for their continued support during my time with them. I have started my new business venture, KISMET Nutrients where I will be devoting much of my time and energy into. I wish the great team at Enertopia much success as they continue with their strategic plan in Lithium Technology,” stated Bal Bhullar.

“Secondly, I am happy to announce the board addition of Kristian Ross who has had a successful career in mineral exploration, development and production spanning the past four decades. Having known Kristian personally for over 20 years I know his meticulous attention to details in project development will be a big asset to Enertopia moving forward,” stated President Robert McAllister.

The Company expects to have a complete update on its exploration program shortly.

About Enertopia

Enertopia is concurrently working with water purification technology partner GWT using patent pending technology that is believed able to recover Lithium from brine solutions. The companies are currently in the planning phase for a much larger and expanded phase two of bench tests with the goal or achieving battery grade Lithium Carbonate. This is expected to result in the build out of a pilot plant that will be based on positive results.

Enertopia’s shares are quoted in Canada with symbol TOP and in the United States with symbol ENRT. For additional information, please visit www.enertopia.com or call Robert McAllister, the President at 1.250.765.6412.

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, potential and financing of its, mining projects, Lithium brine recovery technology, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions that are forward-looking statements. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements., foreign exchange and other financial markets; changes of the interest rates on borrowings; hedging activities; changes in commodity prices; changes in the investments and expenditure levels; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which Enertopia Corporation operates. There can be no assurance that the funds raised will have any positive impact on Enertopia. There is no assurance that the current bench test will be successful and other projects will be acquired. The User should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by Enertopia Corporation from time to time with regulatory authorities.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

SOURCE: Enertopia Corporation

ReleaseID: 470047

BEAUFORT, SC / ACCESSWIRE / July 31, 2017 / Coastal Banking Company Inc. (OTCQX: CBCO) (the “Company”), the holding company of CBC National Bank, which operates branches in Beaufort and Port Royal, S.C., and in Fernandina Beach, Ocala, and The Villages, Fla., today reported net income of $2.11 million, or $0.55 diluted earnings per common share, for the three months ended June 30, 2017. This compares to $1.54 million, or $0.46 in diluted earnings per common share, for the second quarter of 2016, an increase of $570,000. The diluted earnings per common share for both quarters reflect the acquisition of First Avenue National Bank (“FANB”) in Ocala, Florida, in early April 2016.

On a linked-quarter basis, the $2.11 million of net income in the second quarter of 2017 increased significantly from first quarter 2017 net income of $1.45 million, or $0.38 diluted earnings per common share.

For the first six months ending June 30, 2017, the Company reported net income of $3.56 million, or $0.94 diluted earnings per common share, an increase of $790,000 over the net income for the first six months of 2016 of $2.77 million, or $0.90 diluted earnings per common share.

Key performance highlights for the second quarter of 2017 include:

Continued shareholder value creation. Driven by strong earnings over the last four quarters, book value per share has risen to $15.20 at June 30, 2017, from $14.18 at Dec. 31, 2016, and $13.12 at June 30, 2016. The CBCO closing market price on June 30, 2017, was $17.55, up from $15.01 at Dec. 31, 2016.
Continued strong profitability. Second quarter 2017 net income increased by 36.7 percent over the second quarter of 2016, and 45.9 percent over the first quarter of 2017. Second quarter 2017 results featured more balanced net income for all three of the Company’s operating segments as compared to the second quarter of 2016: Community Banking earned $953,000 in 2017’s second quarter, up from $418,000 in 2016’s second quarter, SBA Lending earned $475,000 in the second quarter of 2017, up from $5,000 earned in the same period in 2016, and Mortgage Banking earned $1,242,000 in the second quarter of 2017, down from the robust earnings of $1,579,000 in the second quarter of 2016. Both Community Banking and SBA Lending outperformed the Company’s 2017 budget for both the second quarter and year to date.
Continued strong mortgage banking income. For the second quarter of 2017, $404.6 million in residential mortgage loans were sold, generating $4.52 million in total mortgage banking income, down from the robust second quarter of 2016, which had $521.9 million in volume and $4.92 million in mortgage banking income. However, sales volume and mortgage income were up strongly over first quarter 2017’s $346.6 million and $3.41 million, respectively. Additionally, mortgage banking has generated increased yields on sold loans throughout 2017, compared to 2016, as a result of strategic changes in its loan origination mix. Mortgage banking income is up $88,000 for the first six months of 2017 compared to the same period in 2016 despite sales volume being down $150 million from the same period last year.
Strong SBA originations and loan sales. SBA loan sale income in the second quarter of 2017 was $871,000, compared to $154,000 for the same period in 2016. For the second quarter of 2017, SBA Lending originated $7.7 million in loans and sold $8.0 million into the secondary market. In the second quarter of 2016, SBA Lending originated $5.2 million in loans and sold $1.5 million into the secondary market. The balance of SBA loans available for sale at June 30, 2017, was $35 million, slightly down from the end of the first quarter of 2017, but up over the $28 million balance at June 30, 2016.
Year-over-year growth in the balance sheet. The balance sheet grew $20.1 million, or 3.3 percent, from June 30, 2016, to June 30, 2017, with total assets of $635.8 million at June 30, 2017. The asset growth was driven by $21.7 million of increased portfolio loan balances. Since June 30, 2016, Mortgage portfolio loans grew $15.1 million, Community Banking portfolio loans grew $5.4 million and SBA portfolio loans grew $1.2 million. The Company’s balance sheet is well positioned for stable or increasing interest rates.
Strong 2017 and year-over-year deposit growth. Deposits have grown from $413.0 million at June 30, 2016, to $432.1 million at June 30, 2017, an increase of $19.1 million, or 4.6 percent. This year-over-year growth represents all organic growth, as the acquisition of FANB occurred in April 2016. The $19.1 million in growth has largely been composed of core retail DDA growth.
Steady to improving credit quality. The ratio of non-performing assets to assets decreased from 1.56 percent at June 30, 2016, to 1.48 percent at June 30, 2017. The ratio was 1.98 percent at Dec. 31, 2016. The allowance for loan losses was 1.33 percent of loans outstanding at June 30, 2017, up from 1.22 percent of loans outstanding at the end of June 2016. The allowance for loan losses was 1.47 percent at Dec. 31, 2016. Other real estate owned (OREO) declined to $5.0 million at June 30, 2017, from $5.1 million at both June 30, 2016, and Dec. 31, 2016. Net charge-offs were $183,000 for the second quarter of 2017, compared to net recoveries of $30,000 for the second quarter of 2016. Net charge-offs for the first six months of 2017 were $850,000, compared to $839,000 for the same period last year.
Strong capital ratios. Capital ratios for CBC National Bank remained strong, with a total risk-based capital ratio of 21.46 percent and a Tier 1 risk-based capital ratio of 20.20 percent at June 30, 2017, up from 19.96 percent and 18.70 percent, respectively, at June 30, 2016.
Continued improvement in efficiency ratio. The Company’s efficiency ratio for the second quarter of 2017 was 68.2 percent, compared to 77.3 percent for second quarter 2016. The Company’s efficiency ratio for the six months ended June 30, 2017, was 70.5 percent, compared to 76.1 percent for the same period in 2016.

“In the second quarter, we saw the continuation of a number of our strategic initiatives help drive shareholder value through the more diversified, robust and steady earnings they are combining to provide,” said Michael G. Sanchez, Chairman and Chief Executive Officer. “Book value per share was $15.20 at June 30, 2017, a 15.9 percent increase from $13.12 at June 30, 2016, and up 7.2 percent from $14.18 at Dec. 31, 2016. All three of our Company’s divisions are contributing strongly to our balanced core earnings, with both Community Banking and SBA Lending outperforming the Company’s 2017 budget for the second quarter and year to date. Community Banking earned $953,000 in the second quarter, more than double its earnings in the same period a year ago, fueled by the FANB acquisition. SBA Lending earned $475,000 in the second quarter of 2017 on strong originations and loan sales. We have adjusted our Mortgage Banking model to generate additional government loan production while relying less on brokered out loans, which has improved our already outstanding execution. The result is that Mortgage Banking income rose for the first six months of 2017, compared to the same period last year, despite a decrease in volume. Mortgage Banking earned $1,242,000 in the second quarter of 2017. We have also seen strong year-over-year deposit and balance sheet growth. Deposits have grown by $19.1 million from June 30, 2016, to the end of this year’s second quarter, largely owing to organic growth in core retail demand deposit accounts, which in turn decreases our reliance on higher cost deposits and improves our net interest margin. The balance sheet grew $20.1 million year over year on increased portfolio loan balances among all three divisions. Our balance sheet is well-managed and well-positioned to enable our Company to continue to perform strongly through a stable or rising interest rate environment.”

For the three months ended June 30, 2017, net interest income before the provision for loan losses was $5.29 million, an increase of 2.5 percent, from the $5.16 million for the quarter ended June 30, 2016. Net interest income increased from $9.10 million for the six months ended June 30, 2016, to $10.40 million for the six months ended June 30, 2017. This increase was due to the acquisition of FANB in April 2016, increased yields and growth in portfolio loans. The Company’s net interest margin increased from 3.95 percent for the three months ended June 30, 2016, to 4.09 percent for the same period in 2017. The net interest margin increased from 3.92 percent for the six months ended June 30, 2016, to 4.14 percent for the six months ended June 30, 2017.

Noninterest income was $5.80 million for the second quarter of 2017, comparable to the $5.84 million for the second quarter of 2016. Income on SBA loan sales and service charges on deposits for the second quarter of 2017 increased over last year’s second quarter, while income from mortgage loan sales and other income declined. The additional income on service charges on deposit accounts is due to the addition of FANB in April 2016, while the decline in other income is due to a bargain purchase gain recorded in April 2016 related to the FANB acquisition. For the six months ended June 30, 2017, noninterest income was $10.57 million, compared to $9.54 million for the six months ended June 30, 2016. The increase is primarily due to increased SBA and mortgage loan sales income and additional service charges on deposit accounts, partially offset by the recording of the bargain purchase gain mentioned above.

For the second quarter of 2017 noninterest expense was $7.57 million, a decrease of 10.9 percent from the $8.50 million for the second quarter of 2016. This decrease is primarily due to non-recurring FANB acquisition expenses incurred in the second quarter of 2016. For the six months ended June 30, 2017, noninterest expense was $14.79 million, an increase of 4.3 percent over the $14.18 million in noninterest expense for the first six months of 2016. The increase is due primarily to the year-to-date 2017 effect of the additional salaries, benefits and occupancy expenses from the FANB branches added in the second quarter of 2016, partially offset by the non-recurring acquisition expenses incurred in 2016, mentioned above.

Beginning in the fourth quarter of 2016, the Company changed its financial statement presentation to reclassify the direct lending costs incurred by its Mortgage segment’s National Retail Group against that group’s origination income. This change only affects noninterest income and noninterest expense as reflected above, and provides for a better reflection of the Company’s efficiency ratio. The Company’s financials for 2016 were restated for the change for comparability purposes. This change had no effect on the Company’s reported net income for 2017 or 2016.

“We continue to fine-tune the operations of each of our Company’s three divisions, and all three continue to contribute strongly to our ongoing robust and balanced core earnings,” said Sanchez. “Those strong earnings, in turn, continue to translate into strong shareholder value creation. It is gratifying to see initiatives including our FANB acquisition combine with organic deposit growth and strategic product-mix moves to contribute to our Company’s robust performance. Our capable, talented staff and management are executing our operating strategy at a high level, and we maintain the utmost confidence in their ability to continue to create strong shareholder value growth in successive quarters.”

About Coastal Banking Company Inc.

Coastal Banking Company Inc. is the $635.8 million-asset bank holding company of CBC National Bank, headquartered in Fernandina Beach, Fla., which provides a full range of consumer and business banking services through full-service banking offices in Fernandina Beach, Ocala, and The Villages, Fla., and Beaufort and Port Royal, S.C. The company’s residential mortgage banking division, headquartered in Atlanta, includes both traditional retail and wholesale lending groups, which together have lending offices in Florida, Georgia, Maryland, South Carolina, North Carolina, Illinois, Ohio and Tennessee. The company’s SBA lending division operates under SBA’s delegated authority, originating SBA, USDA and FSA loans throughout the southeastern United States. Headquartered in Fernandina Beach, its offices are located in Jacksonville, Ft. Myers, Tampa and Vero Beach, Fla., Greensboro, N.C., Atlanta and Beaufort.

The company’s common stock is publicly traded on the OTCQX Best Market under the symbol CBCO. The company was named to the OTCQX® Best 50 in both 2015 and 2016, an annual ranking of the top 50 U.S. and international companies traded on the OTCQX Best Market, based on equal weighting of one-year return and average daily dollar volume growth.

A current CBCO stock price quote and recent stock trading activity is available at http://www.otcmarkets.com/stock/CBCO/quote .

For complete 2016 audited annual financial results [click here].

For more information, please visit the company’s website, www.coastalbanking.com.

FORWARD-LOOKING STATEMENTS AND ASSOCIATED RISK FACTORS

This release contains forward-looking statements including statements relating to present or future trends or factors generally affecting the banking industry and specifically affecting Coastal’s operations, markets and products. Without limiting the foregoing, the words “believes,” “anticipates,” “intends,” “expects,” or similar expressions are intended to identify forward-looking statements. These forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected for many reasons, including, without limitation, changing events and trends that have influenced Coastal’s assumptions, but that are beyond Coastal’s control. These trends and events include (i) changes in the interest rate environment which may reduce margins, (ii) not achieving expected growth, (iii) less favorable than anticipated changes in the national and local business environments and securities markets, (iv) adverse changes in the regulatory requirements affecting Coastal, (v) greater competitive pressures among financial institutions in Coastal’s markets, (vi) greater loan losses than historic levels, and (vii) difficulties in expanding our banking operations into a new geographic market. All written or oral forward-looking statements are expressly qualified in their entirety by these cautionary statements. Coastal Banking Company Inc. undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.

For More Information Contact:

Michael G. Sanchez
Chairman & Chief Executive Officer
Coastal Banking Company Inc.
904-321-0400

Thomas J. Flournoy
EVP & Chief Financial Officer
Coastal Banking Company Inc.
904-321-2917

Coastal Banking Company

Consolidated Balance Sheet

June 30, 2017

6/30/2017
YTD

6/30/2016
YTD

12/31/2016

Consolidated

Consolidated

Consolidated

Assets

Cash and due from banks

$
11,105,535

$
7,163,423

$
7,956,004

Federal funds sold

224,000

103,894

387,123

Investment securities

40,537,393

29,013,435

24,760,056

Loans held for sale

141,664,093

154,328,774

92,009,241

Loans, gross

414,869,550

393,145,710

408,743,325

Less allowance

(5,509,635
)

(4,808,392
)

(5,990,733
)

Loans, net

409,359,915

388,337,318

402,752,592

Premises and equipment, net

13,468,510

13,741,240

13,604,166

Other real estate owned

5,017,505

5,146,302

5,061,661

Cash Surrender Value of Life Insurance

2,402,709

2,598,458

2,362,805

SBA Servicing Rights

1,514,559

1,457,880

1,403,431

Other assets

10,459,206

13,716,285

11,091,647

Total assets

$
635,753,425

$
615,607,009

$
561,388,726

Liabilities

DDA – non interest bearing

$
82,611,180

$
71,417,215

$
77,603,027

Interest bearing dda

177,350,869

176,221,999

174,112,178

Savings

17,331,118

14,406,114

15,618,336

Time

154,808,391

150,991,728

149,983,376

Total deposits

432,101,558

413,037,056

417,316,917

FHLB Advances & other borrowings

118,500,000

121,976,003

63,060,005

Senior Note Payable

8,416,667

9,416,667

8,916,667

Junior subordinated debentures

7,217,000

7,217,000

7,217,000

Other liabilities

13,664,560

16,769,958

13,162,845

Total liabilities

579,899,785

568,416,684

509,673,434

Stockholders’ equity

Common stock

36,735

35,957

36,475

Additional paid-in-capital

53,862,614

52,683,135

53,354,382

Retained earnings

1,691,581

(6,061,904
)

(1,870,203
)

Net unrealized gain (loss) – securities AFS

262,710

533,137

194,638

Total stockholders’ equity

55,853,640

47,190,325

51,715,292

Total liabilities and stockholders’ equity

$
635,753,425

$
615,607,009

$
561,388,726

CBC Bank Only

Consolidated Income Statement

June 30, 2017

6/30/2017
QTD

6/30/2016
QTD

6/30/2017
YTD

6/30/2016
YTD

12/31/2016 YTD

Consolidated

Consolidated

Consolidated

Consolidated

Consolidated

Interest Income:

Loans

6,054,389

5,944,222

11,869,280

10,453,130

$
22,709,121

Securities

220,373

207,191

426,550

400,892

805,347

Interest on Deposits

569

5,224

1,636

9,667

14,771

Federal funds sold

12,319

3,787

56,755

4,132

12,764

Total interest income

6,287,650

6,160,424

12,354,221

10,867,821

23,542,003

Interest Expense:

Deposits

693,383

617,191

1,370,399

1,029,110

2,422,894

Trust Preferred

55,674

48,812

110,274

98,369

480,556

Other

250,539

331,707

477,570

637,332

1,144,973

Total interest expense

999,596

997,710

1,958,243

1,764,811

4,048,423

Net interest income before provision for loan losses

5,288,054

5,162,714

10,395,978

9,103,010

19,493,580

Provision for loan losses

74,364

359,523

369,200

392,932

1,450,061

Net interest income after provision for loan losses

5,213,690

4,803,191

10,026,778

8,710,078

18,043,519

Operating income:

Service charges on deposits

145,095

65,242

386,964

140,529

860,338

Mortgage banking income

4,528,492

4,918,870

7,936,270

7,847,928

18,225,244

SBA loan income

870,790

153,975

1,895,833

734,120

1,962,023

Gain on sale of securities

42,763

–

42,763

–

18,373

Increase in cash surrender value of life insurance

20,142

20,252

40,020

41,918

83,584

Other income

193,857

685,271

270,443

775,552

1,536,287

Total operating income

5,801,139

5,843,610

10,572,293

9,540,047

22,685,849

Operating expenses:

Salaries and benefits

4,660,141

4,834,156

9,277,910

8,433,396

17,373,369

Net occupancy and equipment expense

888,561

848,778

1,670,469

1,428,020

3,147,188

Mortgage loan expense

187,276

145,321

280,665

272,536

703,285

Other real estate expense

171,735

88,971

156,786

106,961

616,676

Data processing/ATM expense

459,700

554,452

907,993

930,948

1,969,355

Audit Fees

197,848

117,293

328,112

211,670

769,158

Legal & professional fees

330,432

347,069

612,400

501,057

1,023,046

Director fees

117,675

104,900

222,925

179,000

403,550

Advertising

133,958

156,616

270,276

289,969

653,609

FDIC Insurance expense

55,588

81,000

99,657

162,000

239,506

OCC Examination fees

38,772

42,523

77,544

80,113

162,385

Other operating expense

324,167

1,182,352

887,247

1,585,173

2,681,879

7,565,853

8,503,431

14,791,984

14,180,843

29,743,005

Income before provision for income taxes

3,448,976

2,143,370

5,807,087

4,069,282

10,986,363

Provision for income taxes

1,335,627

597,230

2,245,303

1,305,198

4,030,577

Net income

$
2,113,349

$
1,546,140

$
3,561,784

$
2,764,084

$
6,955,786

Coastal Banking Company

Consolidated Financial Highlights

June 30, 2017

6/30/2017
QTD

6/30/2016
QTD

6/30/2017
YTD

6/30/2016
YTD

12/31/2016
YTD

Consolidated

Consolidated

Consolidated

Consolidated

Consolidated

$ Earnings

Net interest income

$
5,288,054

$
5,162,714

$
10,395,978

$
9,103,010

$
19,493,580

Provision for loan loss

$
74,364

$
359,523

$
369,200

$
392,932

$
1,450,061

Other income

$
5,801,139

$
5,843,610

$
10,572,293

$
9,540,047

$
22,685,849

Other expense

$
7,565,853

$
8,503,431

$
14,791,984

$
14,180,843

$
29,743,005

Pre-tax income

$
3,448,976

$
2,143,370

$
5,807,087

$
4,069,282

$
10,986,363

Taxes

$
1,335,627

$
597,230

$
2,245,303

$
1,305,198

$
4,030,577

Net income

$
2,113,349

$
1,546,140

$
3,561,784

$
2,764,084

$
6,955,786

Earnings per share (basic)

$
0.58

$
0.47

$
0.97

$
0.92

$
2.10

Earnings per share (diluted)

$
0.55

$
0.46

$
0.94

$
0.90

$
2.05

Performance Ratios

ROAA

1.53
%

1.10
%

1.31
%

1.12
%

1.29
%

ROAE

15.79
%

13.82
%

13.38
%

14.50
%

16.07
%

Net Interest Margin

4.09
%

3.95
%

4.14
%

3.92
%

3.85
%

Efficiency Ratio

68.23
%

77.26
%

70.54
%

76.07
%

70.52
%

Capital

Tier 1 leverage capital ratio

11.07
%

9.14
%

11.07
%

9.14
%

10.01
%

Common equity risk-based capital ratio

18.27
%

16.06
%

18.27
%

16.06
%

18.47
%

Tier 1 risk-based capital ratio

18.27
%

16.06
%

18.27
%

16.06
%

18.47
%

Total risk-based capital ratio

19.53
%

17.32
%

19.53
%

17.32
%

19.74
%

Book value per share

$
15.20

$
13.12

$
15.20

$
13.12

$
14.18

Tangible book value per share

$
14.61

$
12.44

$
14.61

$
12.44

$
13.57

Asset Quality

Other real estate owned

$
5,017,505

$
5,146,302

$
5,017,505

$
5,146,302

$
5,061,661

Net Charge-offs (recoveries)

$
182,800

$
(29,877
)

$
850,298

$
838,948

$
713,736

Net Charge-offs to average loans

0.04
%

-0.01
%

0.21
%

0.25
%

0.20
%

Allowance to total loans, net of LHFS

1.33
%

1.22
%

1.33
%

1.22
%

1.47
%

Nonaccrual Loans

$
4,365,335

$
4,477,476

$
4,365,335

$
4,477,476

$
6,070,027

Nonperforming assets to total assets

1.48
%

1.56
%

1.48
%

1.56
%

1.98
%

End of Period Balances

Assets

635,753,425

615,607,009

$
635,753,425

$
615,607,009

$
561,388,726

Portfolio Loans

414,869,550

393,145,710

$
414,869,550

$
393,145,710

$
408,743,325

Loans Held for Sale

141,664,093

154,328,774

$
141,664,093

$
154,328,774

$
92,009,241

Deposits

432,101,558

413,037,056

$
432,101,558

$
413,037,056

$
417,316,917

Borrowings

118,500,000

121,976,003

$
118,500,000

$
121,976,003

$
63,060,005

Shareholders’ Equity

55,853,640

47,190,325

$
55,853,640

$
47,190,325

$
51,715,292

Average Balances

Assets

$
554,626,142

$
565,666,017

$
549,417,364

$
497,529,296

$
540,525,290

Portfolio Loans

$
410,245,995

$
376,720,582

$
407,556,175

$
331,772,764

$
364,242,751

Loans Held for Sale

$
76,275,217

$
116,985,042

$
69,760,761

$
104,073,200

$
111,509,816

Deposits

$
431,559,425

$
408,115,210

$
426,412,789

$
351,353,485

$
385,102,055

Borrowings

$
40,815,179

$
84,625,387

$
41,066,038

$
80,203,915

$
83,230,853

Shareholders’ Equity

$
53,694,002

$
44,859,161

$
53,694,002

$
38,451,882

$
43,270,921

Average Shares

3,672,462

3,308,403

3,666,954

3,001,103

3,307,965

Stock Valuation

Closing Market Price (OTCQX)

17.55

12.99

$
17.55

$
12.99

$
15.01

SOURCE: Coastal Banking Company Inc.

ReleaseID: 470003

VANCOUVER, BC / ACCESSWIRE / July 31, 2017 / Jackpot Digital Inc. (the “Company” or “Jackpot”) (TSX-V: JP) (TSX-V: JP.WT) (OTCQB: JPOTF) (Frankfurt & Berlin Exchanges: LVH). Jackpot is pleased to announce that it has entered into a Sales Agency and Support Services Agreement with R2 Gaming, Inc. (“R2”). Under this agreement, R2 will serve as Jackpot’s exclusive sales and technical services partner across Canada for the Company’s electronic table games (“ETG”) products. R2 will also continue to provide technical services for Jackpot’s ETG clients in Ontario.

With a history going back to 1998, R2 Gaming is a premier product distribution and service company in Casino, Lottery and Community Gaming with a reputation for exceptional customer service. As a strategic partner for Tier 1 manufacturers, R2 Gaming provides sales, product management, and technical services for Gaming Operators, Crown Corporations, and Gaming Manufacturers. With offices and regulatory licenses in every Canadian Province, R2 Gaming enjoys strong brand recognition for world class service.

Through this agreement, R2 will market and license Jackpot’s electronic table games (“ETGs”) to casinos, card rooms, and other gaming venues across Canada. R2 will also provide customer support and technical support for Jackpot’s ETG products for its Canadian customers.

Mr. Jake Kalpakian, Jackpot President, and CEO, states, “We are excited to expand our relationship with R2 Gaming. As a leader in the Canadian gaming industry, R2 has the expertise and contacts to help us grow our ETG business quicker nationally across Canada with Jackpot Blitz™. We have high expectations for our ETG products to be placed in multiple jurisdictions across Canada, and R2 is well suited to help us achieve this quickly and successfully.”

Rocco DiPaola and Ravi Sharma, both founders and partners of R2 Gaming, state, ” Our customers have had so much success with Jackpot Digital’s previous products that we are thrilled about their next generation of electronic table game products. Jackpot Digital is a leader in this sector and it is very exciting to see them apply their innovation and technical expertise to create products that are not available from any other gaming manufacturer in this segment. We look forward to many more years as strategic partners.”

About Jackpot Digital Inc.

Jackpot Digital Inc. is a leading electronic table games manufacturer and mobile gaming provider for the cruise ship industry and regulated casino industry. The Company specializes in multiplayer gaming products, including poker and casino games, which are complimented by a robust suite of back-end tools for operators to efficiently control and optimize their gaming business.

For more information on the Company, please contact Jake H. Kalpakian, President and CEO, at (604) 681-0204 ext 6105, or visit the Company’s website at www.jackpotdigital.com.

On behalf of the Board of

Jackpot Digital Inc.

“Jake H. Kalpakian”
Jake H. Kalpakian
President & CEO

Trading in the securities of the Company should be considered speculative.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

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

Certain statements contained herein are “forward-looking”. Forward-looking statements may include, among others, statements regarding future plans, costs, objectives, economic or technical performance, or the assumptions underlying any of the foregoing. In this News Release, words such as “may”, “would”, “could”, “will”, “likely”, “enable”, “feel”, “seek”, “project”, “predict”, “potential”, “should”, “might”, “objective”, “believe”, “expect”, “propose”, “anticipate”, “intend”, “plan”, “estimate”, and similar words are used to identify forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those expressed or implied. Although management believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, projections and estimations, there can be no assurance that these assumptions, projections or estimations are accurate. Readers, shareholders, and investors are therefore cautioned not to place reliance on any forward-looking statements as the plans, assumptions, intentions or expectations upon which they are based might not occur.

SOURCE: Jackpot Digital Inc.

ReleaseID: 470019

HONG KONG, CHINA / ACCESSWIRE / July 31, 2017 / Takung Art Co., Ltd. (NYSE American: TKAT) (“Takung”), an online trading platform that facilitates art collectors and art-interested investors to obtain and trade shared ownership units in Asian and international fine arts, today announced that the Company, through its direct wholly-owned subsidiary HongKong Takung Assets and Equity of Artworks Exchange Co. Ltd., has entered into a strategic cooperation agreement with Huangshan Arts Association (the “Association”), a 200-member association that promotes the appreciation and understanding of traditional Hui culture artworks, including carvings, lacquerware, wickerwork, and the Wan’an compass. The Association is based in Huangshan City, China, where the United Nations Educational, Scientific and Cultural Organization (“UNESCO”) has identified two traditional Hui culture villages as World Heritage sites for their preservation of traditional Hui art, technology, and customs.

Under the terms of the agreement, which was signed on July 16, 2017, the Association will recommend, appraise, and value artworks to be listed on Takung’s unit trading platform and provide resources and support for road shows and exhibits. The works, in turn, will gain a greater audience by participating in Takung’s listing process, during which portfolios are marketed and promoted through road shows and exhibitions.

Mr. Mike Xiao, Chairman and CEO of Takung, commented, “We are pleased with this opportunity to work with the Huangshan Arts Association to bring its extensive collection of traditional Hui culture carvings to our platform and the world stage. By combining our resources and knowledge, our partnership will strengthen Takung’s standing as a leading and trusted provider of high quality artwork and fine arts while enabling our current 110,000 traders to invest in their rich cultural heritage. We look forward to further deepening our penetration into the arts market and educating the public about the Hui culture with the Association.”

“This collaboration is part of Takung’s larger efforts to bring more diversified artwork to the Takung unit trading platform through partnerships with leaders in the art industry. Along with the previously announced “A” tier portfolio category, Takung’s partnerships aim to attract new traders, increase trading liquidity, and improve the company’s top and bottom lines,” Mr. Xiao concluded.

About Takung Art Co., Ltd.

Takung Art Co., Ltd. operates a unique, proprietary online trading platform which facilitates art collectors and art-interested investors to gain and trade shared ownerships in Asian and international fine arts. Takung is headquartered in Hong Kong and operates primarily in Hong Kong through our direct wholly-owned subsidiary HongKong Takung Assets and Equity of Artworks Exchange Co. Ltd. and its two wholly-owned subsidiaries in Shanghai and Tianjin that facilitate service and support to its PRC-based traders on the Company’s platform. The Company’s online trading platform which converts the ownership of artworks into ownership units, enables China’s growing middle class to invest in fine art as an investment opportunity. For more information, please visit the Company’s website: http://ir.takungart.com/. The Company routinely posts important information on its website.

Forward-Looking Statements

This press release may contain projections or other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.

Contacts:

Takung Art Co., Ltd.
Mr. Leslie Chow
Phone: +852 31580977
Email: irmail@takungae.com

SOURCE: Takung Art Co., Ltd.

ReleaseID: 469969