Not for Distribution to U.S. Newswire Services or for Dissemination in the United States. Any Failure to Comply with This Restriction May Constitute a Violation of U.S. Securities Laws.

VANCOUVER, BC / ACCESSWIRE / January 31, 2019 / EastWest Bioscience Inc. (the “Company” or “EastWest”) (TSXV: EAST) is pleased to announce that it intends to complete a non-brokered private placement offering (the “Offering”) of a minimum 2,000,000 up to 6,666,667 units of the Corporation (“Units”) at a price of $0.15 per Unit for aggregate gross proceeds of a minimum $300,000 up to $1,000,000. Each Unit will consist of one common share in the capital of the Corporation (“Common Share”) and one-half of one share purchase warrant (“Warrant”), each Warrant entitling the holder thereof to purchase an additional Common Share at an exercise price of $0.20 per share for a period of two years from the date of closing.

Proceeds from the Offering will be used for working capital and general corporate purposes including payment of outstanding accounts payable. The Company may pay certain eligible finders a fee for introducing eligible participants to the Private Placement.

All of the Common Shares and Warrants issued pursuant to the private placement will be subject to a four-month hold period. The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

About EastWest BioScience Group

EastWest Bioscience is a seed-to-sale organization that offers world class manufacturing and premium hemp-based consumer goods. Since it was founded in 2016, EastWest continues to grow as a high-quality producer, manufacturer and distributor of multiple lines of premium hemp products. EastWest is strategically positioned in mainstream consumer markets with wholistic natural products and has developed distribution channels into mainstream stores and markets in Canada. The Company has a Health Canada licensed, GMP (Good Manufacturing Practices) certified manufacturing facility and produces premium brands offering natural products for a preventive care lifestyle. EastWest consumer product lines are divided into four distinct brands: 1) Natural Advancement – natural biopharmaceutical health supplements; 2) Earth’s Menu – all-natural hemp superfoods; 3) Natural Pet Science – pet food and pet supplements; and 4) Chanvre Hemp – all-natural health and beauty products. The organization will continue to focus on ongoing development of innovative, hemp-based consumer products through advanced science with clean, natural ingredients to complement its current product offerings.

ON BEHALF OF THE BOARD OF DIRECTORS
EASTWEST BIOSCIENCE GROUP

“Rodney Gelineau”
Co-Founder, Chief Executive Officer, President and Director

For further information, please visit www.eastwestbioscience.com or contact EastWest Bioscience Investor Relations at 1-647-394-7383 or email us at investors@eastwestscience.com.

Reader Advisory

This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking, including statements with respect to the use of proceeds from the Private Placement. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

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

SOURCE: EastWest Bioscience Inc.

ReleaseID: 534151

SEATTLE, WA / ACCESSWIRE / January 29, 2019 / In 2019 being seen is everything. Entrepreneurs and Public Figures are taking their hard earn dollars to market their brands on Instagram, Facebook, and Youtube. However, experts weigh in that none of those outlets are as effective as getting featured in major publications and podcasts.

Today’s experts explain their success and projects they are working on:

Jonathan Medina

Jonathan Medina is the Managing PR specialist at Influencer Press that manages publicity for Influencers and for a few clients worth over $100M.

With no client acquisition specialist, Jonathan has been able to book prospects on his calendar all year long while making his first high 5 figure month in only 3 months of ever being in the online marketing space.

Jonathan Medina grew up in a small town called Grandview where the estimated population of the town was around 10,000 people.

Usually, in small towns, it’s almost impossible to dream about ”the life” because you don’t see the fancy cars, the nice clothes, big mansions.

But only 3 months into online marketing what it would take most of us years – Jonathan accomplished in a few months.

He hit his first ever 5 figure month to now he’s being featured as a top PR specialist on major publications like Entrepreneur and Nasdaq. Media is important to get verified on Facebook and Instagram therefore, media is his focus.

Josue Arteaga

Josue Arteaga is the COO of Influencer Press and Manufacturing Influencers. Named as a prodigy and maverick of PR by both Inc and Entrepreneur magazine. Worked with over a 100 millionaires/high performing entrepreneurs by the age of 20.

Business prodigy and Grandview
raised

entrepreneur

, Josue Arteaga, runs the operations of one of the most exclusive PR companies, Manufacturing Influencers. His clients range from some of the world’s richest and most famous public figures. Managing the brands and press of the influencers of tomorrow, the team at Manufacturing Influencers, are one of today’s top PR firms, focusing on helping clients reach their end result with their brands through PR.

”Our methodology is that PR is the single biggest growth hack to building that indestructible brand that you want. What happens when you build that brand organically vs paid ads? Warmer leads, warmer intros. The buyer’s journey is shorter. That’s why you see all of the top people in their space like Sam Ovens, The Omnipresent Guy himself, Scott Oldford, Tai Lopez share out their PR because it builds that trust with a new audience. That’s why Chris Winfield gets on major TV segments because he can create a 7 figure business through that alone.” says Arteaga.

At 18 years old he started his PR business landing clients such as

instagram
Famous Tonio Skits. By the age of 19, he tripled his business well over 6 figures. At 20 he scaled to $50,000 a month and has been featured on numerous major publications.

”If you want something the universe will test you on how much you want it. If you want to be on major publications you’re going to have to think of new and creative ways to reach journalist and reporters.”

Nathan Ray Ortega

Nathan Ray Ortega is the Founder of Influencer Podcasts he helps Millionaires, Influencers, and other highly respected individuals, by getting them

booked
on podcasts to share their powerful stories to impact the lives of thousands to millions of people worldwide

But at the beginning, Nathan had to do endless free work for three years, within those years, he had 16 different jobs at the age of 20, was homeless sleeping in a car with his pregnant girlfriend, changing in public park bathrooms. Eventually, he figured out the only way he would be able to start charging for his services would be to work with the most powerhouse entrepreneurs that many people respect in order to gain the rub off effect.

Eventually, Nathan became the go-to guy for getting people

booked
on podcasts, he has been able to silver tongue his way in building a strong network and has enabled him to work with the top entrepreneurs current to date such as Ed Mylett net worth of 400 million and made the 50 under 50

list
in Forbes, Danny Morel who runs 40 million dollars worth of businesses, Sam Bakhtiar who made 53 million in revenue in the year 2018

Therefore he has been able to bring out a voice in every personal brand and business that has enabled tremendous results for his clients and anyone looking to become a guest on any show such as, giving them a unique voice that can be heard worldwide, to gaining credibility, building a cold following, allowing them to create and share social proof through their interviews, and helping business owners close more deals through the power of becoming a podcast guest.

Julio Martinez

Julio Martinez is the Operations Manager at Influencer Press which manages press release for influencers and entrepreneurs worth well over 100M.

With only a high school diploma and a hard work ethic, he knew he was supposed to be a part of something greater.

While working with Influencer Press he has secured features for high-end entrepreneurs on the most prestigious publications around the world.

”Entrepreneurs worldwide come to us because they know they will receive the results and exposure they need to become a powerhouse in their industry,” explains Martinez.

Having great content and a large following base is a step towards social media verification, but Martinez knows that the key is to also have a handful of features on various publications under your belt because that will secure that blue check mark everyone desires.

Samuel Madera

Samuel Madera is the Chief Strategy Officer at Influencer Press who has helped several entrepreneurs earning over 7-8 Figures obtain the right media exposure they need in order to take their personal brands and businesses to the next level.

After earning his bachelor’s degree in media and communications from the University of Washington Bothell, he has made himself known in the world of public relations. Helping CEO’s and influencers place their name as one of the best in their industries using the power of

press.

”Obtaining press is only half of the journey. The rest of the journey is teaching my clients to leverage every bit of press linked to their name in order to gain more exposure through other forms of media besides press. Press is only a visual if you don’t use it to its full potential. If you want to be known as the best in your industry, remember that people won’t give you a nickname because you ask them to give it to you. They need sources that will make their claim true.”

Several people get the press but don’t use it to their advantage. Then they begin to find

press
to be pointless. It’s about using it as leverage to gain more media exposure and increase the value in yourself and your business.

Usually, someone would much rather buy the product with a five-star rating over a product with a two-star rating. With

press
, it’s no different. If someone’s services or personal brand is linked to several press pieces and other forms of media such as podcasts or television, then most likely their business will be preferred over a business that’s missing press.

Contact:

influencerpodcasts@gmail.com

SOURCE: Influencer Podcasts

ReleaseID: 533931

NEW YORK, NY / ACCESSWIRE / January 31, 2019 / On January 24th, 2019, Ms. Sherry Li, CEO of Thompson Education Center, was honored to have been invited to the 10th Annual Ivy Football Association Dinner. “The
Ivy Football Association was founded in 2000 to honor and celebrate Ivy League football and its rich tradition of producing many graduates who have become leaders in their chosen fields or professions, including government, law, medicine, business, the arts, education, and religion.”

The ceremony hosted by Chris Berman, Brown University graduate, and Jack Ford, Yale University graduate, awarded the Ivy Trophy to the current Yale and Princeton team coaches. The dinner introduced Bushnell Award Winners and the “2019 Ivy Football Association Honorees”. Eight honorees graduated from Eight Ivy League Universities. In recognition of their roles as a member of a former football team, they also earn extraordinary achievements in their career field after graduation. The eight honorees are Mr. William O’Brien from Brown, Mr. Paul McCormick from Columbia, Mr. George Arangio from Cornell, Mr. Hon. John Carney from Dartmouth, Mr. Joe Azelby from Harvard, Mr. Gavin O’Connor from UPenn, Mr. Jason Garret from Princeton, and Mr. Kevin Czinger from Yale.

Among all the honorees, Mr. Gavin O’Connor delivered a very moving speech that touched everyone’s heart. Like the movies he directed, he can always get people’s attention. Thompson Education Center‘s CEO, Ms. Sherry Li knows one of the honorees, Joe Azelby. As CEO of JP Morgan’s Global Real Assets Group, Joe led an assets management team with 500 professionals in it to manage $95 billion in assets around the world. In his speech, with his great sense of humor, he shared some of his real life stories. All of the honoree speeches made the dinner fun and left participants with vivid memories of the dinner.

“The Ivy
League is the most diverse intercollegiate conference in the country with more than 8,000 student-athletes competing each year. Sponsoring conference championships in 33 men’s and women’s sports and averaging more than 35 varsity teams at each school, the Ivy League provides more intercollegiate athletic opportunities per school than any other conference in the country.” The eight universities of the Ivy League are Brown University, Columbia University, Cornell University, Dartmouth University, Harvard University, University of Pennsylvania, Princeton University and Yale University. They “share a rich history of success and influence in college athletics, dating back to the origins of intercollegiate competition. Ivy League institutions have won 287 team national championships and 579 individual national championships since intercollegiate competition began.”

CEO of Thompson
Education Center, Ms. Sherry Li had an in-depth conversation and discussion with William G. Primps, Ivy Football Association Dinner Chairman, and Alexander Tennant, chairman of Board of Education and PhD in Education at Harvard University, plans to set up Thompson Ivy League Advisory Board for offering students with various Ivy League sports and education program. Also, TEC plans to provide application counseling, exam preparation and tutoring for the students by “The Butler Method
International”, a “comprehensive educational consulting company – with expertise in admissions counseling” and is “one of the premier university admissions advisors.” Mr. Matt Butler is the founder and CEO of the company. After graduating from Harvard University, Mr. Butler specialized in admission counseling.

Thompson
Education Center plans to launch the Ivy League Sports Week to provide students with an opportunity to participate in a one-week sports training at the Ivy League Universities. Students will receive training from coaches at different schools, and the sports include football, basketball, soccer, baseball, lacrosse, track & field, etc. Sports Week will be named after the university that provides coaching and training resources and will be held at that school. For example, students attend Harvard Football Sports Week at Harvard University, or Columbia Basketball Sports Week at Columbia University.

Thompson Education Center – A High-End Education Community in Sullivan County, NY: http://thompsoneducationcenternews.com

Thompson Education Center to Offer Classes and Programs to Alleviate Nursing Shortage: https://finance.yahoo.com/news/thompson-education-center-offer-classes-151000942.html

Thompson Education Center Announces Plans for Performing Arts Center: http://finance.yahoo.com/news/thompson-education-center-announces-plans-215500406.html

Contact Information:

ThompsonEducationCenterNews.com
http://thompsoneducationcenternews.com
contact@thompsoneducationcenternews.com

SOURCE: Thompson Education Center

ReleaseID: 534142

VANCOUVER, BC / ACCESSWIRE / January 31, 2019 / EVITRADE Health Systems Corp. (CSE: EVA, OTCQB: EVAHF) (the “Company” or “Evitrade”) hereby announces that effective January 31, 2019 it has mutually terminated and unwound the previously announced transaction and underlying agreement with Tree Chest Safety Corp. (“TCS”) for the acquisition of TCS by Evitrade. Post-closing due diligence on the integration of TCS into Evitrade’s corporate structure revealed matters that the parties could not agree upon resulting in the failure to fully effect closing of the transactions under the agreement between the parties including the issuance of any securities and/or cash consideration to TCS shareholders for the acquisition. No cash or securities have been paid or issued with respect of the transaction between TCS and Evitrade by either party, and the parties have unwound the transactions related to the acquisition and terminated their agreement for the same. As of the date of this press release, TCS is not a subsidiary of Evitrade.

Management of Evitrade believe that the contemplated transaction was no longer in line with the business and commercialization strategies of the Company leading to the mutual termination of the agreement and unwinding of the transactions contemplated therein between the parties.

For more information, please contact:

Sydney Au, Director
EVITRADE Health Systems Corporation
(formerly Auxellence Health Corporation)
Email info@evahealthsystems.com
Website http://www.evahealthsystems.com
CSE Micro-site: http://thecse.com/en/listings/technology/evitrade-health-systems-corp US OTC Markets (OTCQB): http://www.otcmarkets.com/stock/EVAHF/news

About EVITRADE Health (CSE: EVA, OTCQB: EVAHF)

EVITRADE Health Systems Corp. (formerly Auxellence Health Corp.), is a Technology company specializing in the Life Sciences sector looking to deliver effective health solutions with a higher degree of predictability and consistency. The Company is focused in four main areas, Autonomous Medical Care, Molecular Biology, Nutraceutical Solutions and Genetic Selection. Through its Focus on Autonomous Medical Care, the Company offers a physiologically interactive computing platform that integrates medical devices and artificial intelligence applications into a fully automated, personal health management system for hypertension, arrhythmia, diabetes, and obesity.

Disclaimers

This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither the Canadian Securities Exchange (CSE or CNSX Markets), nor its Regulation Services Provider (as that term is defined in policies of the CSE), or any other regulatory authority accepts responsibility for the adequacy or accuracy of this release. The Company does not undertake to update this news release unless required by applicable law.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.

SOURCE: EVITRADE Health Systems Corp.

ReleaseID: 534148

MISSISSAUGA, ON / ACCESSWIRE / January 31, 2019 / Redishred Capital Corp. (“Redishred”) (TSX-V: KUT) has granted options to certain non-management Directors of the Company as part of an annual retainer for Board compensation. The options are to purchase an aggregate of common shares as set forth below.

Effective January 30, 2019, Redishred has granted 124,050 stock options, at a price of $0.62, with 33.33% of the options vesting upon execution, 33.33% vesting on the one year anniversary of the grant and 33.33% vesting on the two year anniversary of the grant. The stock option grants have a life of five years, expiring on January 29, 2024.

About Redishred Capital Corp.

Redishred Capital Corp. is the owner of the PROSHRED® trademarks and intellectual property in the United States and Internationally. PROSHRED® shreds and recycles confidential documents and proprietary materials for thousands of customers in the United States in all industry sectors. PROSHRED® is a pioneer in the mobile document destruction and recycling industry and has the ISO 9001:2015 certification. It is PROSHRED®’s vision to be the ‘system of choice’ and provide shredding and recycling services on a global basis. PROSHRED® currently services over 40 markets in the United States. Redishred Capital Corp. grants PROSHRED® franchise businesses in the United States and by way of license arrangement in the Middle East. Redishred Capital Corp. also operates seven corporate shredding businesses directly. The Company’s plan is to grow its business by way of both franchising and the acquisition and operation of document destruction businesses that generate stable and recurring cash flow through a scheduled client base, continuous paper recycling and concurrent unscheduled shredding service.

FOR FURTHER INFORMATION PLEASE CONTACT:

Redishred Capital Corp. (TSX.V – KUT)
Jeffrey Hasham, MBA, CA
Chief Executive Officer
Jeffrey.hasham@redishred.com
www.redishred.com
Phone: (416) 849-3469 Fax: (905) 812-9448

or,

Redishred Capital Corp. (TSX.V – KUT)
Kasia Pawluk, CA
Chief Financial Officer
kasia.pawluk@redishred.com
www.redishred.com
Phone: (416) 204-0076 Fax: (905) 812-9448

Note: Neither 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 release.

This news release contains forward looking statements that reflect the current expectations of management of Redishred and Redishred’s future results, performance, achievements, prospects and opportunities. Wherever possible, words such as “may”, “will”, “estimate”, “believe”, “expect”, “intend” and similar expressions have been used to identify these forward looking statements. These statements reflect current beliefs and are based on information currently available to management of Redishred. Forward looking statements necessarily involve known and unknown risks and uncertainties. A number of factors, including those discussed in the 2017 management discussion and analysis under “Risk Factors”, could cause actual results, performance, achievements, prospects or opportunities to differ materially from the results discussed or implied in the forward looking statements. These factors should be considered carefully and a reader should not place undue reliance on the forward looking statements. There can be no assurance that the expectations of management of Redishred will prove to be correct. Readers are cautioned that such forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from these statements. Redishred can give no assurance that actual results will be consistent with these forward-looking statements.

SOURCE:Redishred Capital Corp.

ReleaseID: 534140

WASHINGTON, DC / ACCESSWIRE / January 31, 2019 / A bipartisan bill introduced in the U.S. House advances global shark conservation by ensuring that all shark and ray products imported into the United States meet the same high ethical and sustainability standards required of American fishermen. The bill has broad support from conservation groups, zoos, aquariums and the fishing industry.

The Sustainable Shark Fisheries and Trade Act of 2019 (SSFTA), H.R. 788, introduced by Rep. Daniel Webster (R-FL), and co-sponsored by Reps. Ted Lieu (D-CA), Bill Posey (R-FL), José Serrano (D-NY), among others, creates a transparent certification program for countries seeking to import shark products into the United States, modeled on similar laws that protect sea turtles and marine mammals across the globe. A companion bill is expected soon in the Senate; Sen. Marco Rubio (R-FL) introduced a similar bill in the last Congress.

Nations wishing to take advantage of the U.S. market for shark and ray products must prove they have an effective prohibition on the reprehensible and wasteful practice of shark finning, and have shark and ray management policies comparable to those under the Magnuson-Stevens Act.

Unlike legislation (H.R. 737) from Rep. Gregorio Kilili Camacho Sablan (D-NMI), which bans all trade of shark fins in the United States, the Sustainable Shark Fisheries and Trade Act creates incentives for improving shark conservation globally. The SSFTA punishes bad actors in other parts of the world while allowing responsible fishermen in the U.S. and elsewhere to realize the maximum value of their carefully managed and scientifically limited annual catch.

”Fishing is a long-standing profession and treasured American pastime, and particularly important in Florida,” said Rep. Webster. ”Our responsibility is to balance the needs of the industry with conservation. This bill recognizes the sacrifices American fishermen have made to rebuild and sustain our shark populations and calls on others to meet these same high standards.”

”We thank the Congressmen for introducing the Sustainable Shark Fisheries and Trade Act,” said Tad Mask, regional director of the Southeastern Fisheries Association in Tallahassee, Florida. ”The bill promotes shark conservation and the successful model of American shark management, without threatening law-abiding U.S. fishermen.”

”The idea of a fin ban comes as a first step in environmental groups ultimate goal of ending all shark fishing,” said Greg DiDomenico, director of the Garden State Seafood Association. ”The same groups pushing Rep. Sablan’s bill are also calling for an end to shark
fishing tournaments. Supporting sensible shark conservation measures, like Rep. Webster’s, should be a common goal of the commercial and recreational fishing communities.”

U.S. shark fisheries are among the best managed in the world. In a paper published last year, Dr. David Shiffman, a Liber Ero Postdoctoral Research Fellow at Simon Fraser University, and Dr. Robert Hueter, Director of the Center for Shark Research at Mote Marine Laboratory, wrote that the U.S. ”has some of the most sustainable shark fisheries on Earth” and called the U.S. ”a model of successful management.”

Shark finning, the cruel practice of removing a shark’s fins at sea and discarding the rest of the shark, has been banned in the United States with industry support since the 1990s. Currently, when a shark is landed, the fins are left naturally attached.

The Sustainable Shark Alliance has long argued for the importance of obtaining the maximum value by fully utilizing the limited catches U.S. fishermen are allowed. A U.S. ban on the sale of fins deprives coastal communities of much needed income, while mandating waste of a valuable and culturally important resource.

”The answer to the problem of shark finning is not ‘reverse shark finning,’ by destroying the shark fins that are legally harvested,” said the Alliance’s counsel, Shaun Gehan. ”It is to stop shark overfishing and waste of much needed shark protein in all the world’s shark fisheries. The SSFTA moves us in that direction.”

Prior versions of the Sustainable Shark Fisheries and Trade Act have been supported by commercial fishing industry groups, including but not limited to the Garden State Seafood Association, Southeastern Fisheries Association, North Carolina Fisheries Association, Directed Sustainable Fisheries, and Louisiana Shrimp Association; environmental groups, such as the Wildlife Conservation Society; and zoo and aquarium facilities, such as Mote Marine Laboratory, Palm Beach Zoo, SeaWorld, Zoo Miami Foundation and the Florida Aquarium. The Florida Fish and Wildlife Conservation Commission has also written in support of approach.

About the Sustainable Shark Alliance

The Sustainable Shark Alliance (SSA) is a coalition of shark fishermen and seafood dealers that advocates for sustainable U.S. shark fisheries and supports well-managed and healthy shark populations. The SSA stands behind U.S. shark fisheries as global leaders in successful shark management and conservation.

PRESS CONTACT

Bob Vanasse
bob@stoveboat.com
(202) 333-2628

SOURCE: Saving Seafood

ReleaseID: 534137

TORONTO, ON / ACCESSWIRE / January 31, 2019 / Tsodilo Resources Limited (TSX Venture Exchange: TSD) (“Tsodilo” or the “Company”) wishes to announce that effective today, Dr. Michiel CJ de Wit will be stepping down as Tsodilo’s President and Chief Operating Officer and from the Board of Directors.

The Board would like to sincerely thank Mike for his many contributions during his tenure and is pleased to further announce that Dr de Wit has agreed to remain closely associated with the Company in an ongoing role as a technical advisor.

Dr. de Wit commented, “I have enjoyed working as Tsodilo’s President and COO for almost a decade, during which time, Tsodilo has established Botswana’s first and only iron resource which the Company is actively exploring avenues of exploiting. Alongside this, the Company has expanded the Cu, Co, and Au exploration activities in northwest Botswana and shown this area to exhibit great potential for mineralization and future discoveries. The first phase of the BK16 evaluation kimberlite project in the Orapa kimberlite field was successfully completed and has become an exciting milestone for the Company and is consistent with the Company’s approach of tackling large projects by doing quality work in an efficient and timely fashion. I am confident that the Company’s projects will continue to move forward under the direction of Dr. Alistair Jeffcoate who has worked alongside me for the past 5 years”.

About Tsodilo Resources Limited

Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond and metal deposits at its Bosoto (Pty) Limited (“Bosoto”) and Gcwihaba Resources (Pty) Limited (“Gcwihaba”) projects in Botswana and its Idada 361 (Pty) Limited (“Idada”) project in Barberton, South Africa. The Company has a 100% stake in Bosoto (Pty) Ltd. which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana and the PL216/2017 diamond prospection license also in the OKF. The Company has a 100% stake in its Gcwihaba project area consisting of seven metal (base, precious, platinum group, and rare earth) prospecting licenses all located in the North-West district of Botswana. Additionally, Tsodilo has a 70% stake in Idada Trading 361 (Pty) Limited which holds the gold and silver exploration license in the Barberton area of South Africa. Tsodilo manages the exploration of the Gcwihaba, Bosoto and Idada projects.

This press release may contain forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements pertaining to the use of proceeds, the impact of strategic partnerships and statements that describe the Company’s future plans, objectives or goals) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in equity markets, changes in general economic conditions, market volatility, political developments in Botswana and surrounding countries, changes to regulations affecting the Company’s activities, uncertainties relating to the availability and costs of financing needed in the future, exploration and development risks, the uncertainties involved in interpreting exploration results and the other risks involved in the mineral exploration business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, uncertainties relating to availability and cost of funds, timing and content of work programs, results of exploration activities, interpretation of drilling results and other geological data, risks relating to variations in the diamond grade and kimberlite lithologies; variations in rates of recovery and breakage; estimates of grade and quality of diamonds, variations in diamond valuations and future diamond prices; the state of world diamond markets, reliability of mineral property titles, changes to regulations affecting the Company’s activities, delays in obtaining or failure to obtain required project approvals, operational and infrastructure risk and other risks involved in the diamond exploration and development business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty.

Neither the TSX Venture Exchange (“TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company’s control, which may cause actual results or performance to differ materially from those currently anticipated in such statements.

FOR FURTHER INFORMATION PLEASE CONTACT:

James M. Bruchs
Head Office
Website

Chairman and Chief Executive Officer
Telephone +1 416 572 2033
http://www.TsodiloResources.com

JBruchs@TsodiloResources.com
Facsimile + 1 416 987 4369

SOURCE: Tsodilo Resources Limited

ReleaseID: 534102

SALINAS, CA / ACCESSWIRE / January 31, 2019 / 1st Capital Bank (OTC PINK: FISB) reported unaudited net income of $1.94 million for the three months ended December 31, 2018, compared to net income of $182 thousand for the three months ended December 31, 2017 and net income of $1.74 million for the three months ended September 30, 2018, the immediately preceding quarter. Earnings per share were $0.38 (diluted), compared to $0.34 (diluted) for the prior quarter.

Unaudited net income for the year ended December 31, 2018 increased 126.1% to $6.43 million, compared to $2.84 million for the year ended December 31, 2017. Additionally, pre-tax income for 2018 rose significantly to $8.86 million, 45.1% above 2017’s pre-tax income of $6.11 million. Earnings per share were $1.25 (diluted) for the year ended December 31, 2018, compared to $0.56 (diluted) for the year ended December 31, 2017.

“We are pleased to report record levels of assets and net income for 2018. Our strong local deposit base funded the continued growth in our loan portfolio,” said Thomas E. Meyer, President and Chief Executive Officer. “The benefits of lower income tax rates in 2018 resulting from the Tax Cuts and Jobs Act of 2017 were also evident in our results,” Meyer added.

Net interest margin increased from 3.89% in the third quarter of 2018 to 4.01% in the fourth quarter of 2018. Net interest income before provision for loan losses for the three-month period ended December 31, 2018 was $6.13 million, an increase of $236 thousand, or 4.0%, compared to $5.89 million recognized in the three-month period ended September 30, 2018. On a year-over-year basis, quarterly net interest income before provision for loan losses increased $1.01 million, or 19.7%, from $5.12 million recognized in the fourth quarter of 2017.

For the year ended December 31, 2018, net interest income before provision for loan losses increased 18.8%, from $19.1 million in the year ended December 31, 2017 to $22.7 million in the year ended December 31, 2018. The Bank’s annual net interest margin expanded from 3.50% in 2017 to 3.86% in 2018. Growth in average loans outstanding, which increased $50.7 million, or 12.2%, from $415.9 million in 2017 to $466.6 million in 2018, made up the bulk of growth in average interest-earning assets, which increased $40.7 million, or 7.4%, from $547.6 million in 2017 to $588.3 million in 2018.

In the fourth quarter of 2018, core loan growth was concentrated in the commercial real estate portfolio which organically grew $3.1 million, or 1.2%, from $252.3 million as of September 30, 2018 to $255.4 million as of December 31, 2018, and commercial and industrial loans increased $73 thousand to $38.7 million as of December 31, 2018. Over the same period, the single-family residential portfolio, which consists primarily of purchased loans, increased $3.5 million, or 2.4%, from $147.2 million as of September 30, 2018 to $150.7 million as of December 31, 2018. Overall, the loan portfolio increased $59.4 million, or 13.9%, on an annual basis from $428 million as of December 31, 2017 to $487 million as of December 31, 2018, and increased $2.8 million or 0.6% in the fourth quarter of 2018.

“Our annual operating results reflect 6.5% growth in our core commercial and industrial and commercial real estate portfolios during 2018, which was complemented by purchases of high quality single-family residential loans” said Thomas E. Meyer, President and Chief Executive Officer. ” We have recently announced the addition of several highly experienced relationship bankers, who we believe will further enhance our relationship banking model. We see good lending opportunities in our key markets, while adhering to our credit discipline.”

Total deposits increased $12.6 million, or 2.3%, to $560.5 million as of December 31, 2018, from $547.9 million as of September 30, 2018, and increased $34.4 million, or 6.5%, from $526.1 million as of December 31, 2017. The Bank’s cost of funds increased from 0.12% for the year ended December 31, 2017 to 0.15% for the year ended December 31, 2018, reflecting increases in certificate of deposit costs during the second half of 2018.

“Our noninterest-bearing deposits made up 50.3% of our total deposits at December 31, 2018 and are the primary driver of our continued low cost of funds,” said Michael J. Winiarski, Executive Vice President and Chief Financial Officer, “although we expect deposit pricing pressure to continue into 2019.”

NET INTEREST INCOME BEFORE PROVISION FOR CREDIT LOSSES

Net interest income before provision for credit losses was $6.13 million in the fourth quarter of 2018, an increase of $1.01 million, or 19.7%, compared to $5.12 million in the fourth quarter of 2017 and an increase of $236 thousand, or 4.0%, compared to $5.89 million in the third quarter of 2018.

Average earning assets were $606.2 million during the fourth quarter of 2018, an increase of 0.95% compared to $600.5 million in the third quarter of 2018. The yield on earning assets was 4.18% in the fourth quarter, compared to 4.05% in the third quarter of 2018, primarily due to an increase in the yield on loans from 4.45% to 4.60%; and secondly, to an increase in the yield of the investment portfolio from 2.26% to 2.48%. The average balance of the investment portfolio decreased $374 thousand, from $70.2 million in the third quarter of 2019 to $69.8 million in the fourth quarter of 2018, reflecting normal amortization and prepayments on the Bank’s investments in mortgage-backed securities and collateralized mortgage obligations, offset by $4.1 million in investment purchases.

The cost of interest-bearing liabilities increased to 0.36% during the fourth quarter of 2018, from 0.30% during the third quarter of 2018, and 0.22% during the fourth quarter of 2017. The average balance of interest-bearing liabilities increased from $271.2 million in the fourth quarter of 2017 to $307.6 million in the third quarter of 2018 and decreased to $284.9 million in the fourth quarter of 2018. The Bank experienced normal seasonal fluctuations in deposits, particularly from larger depositors, and managed its leverage ratio, primarily with Promontory Interfinancial Network’s Insured Cash Sweep program, which had off-balance sheet quarter-end balances of $25.6 million, $109.0 million, and $61.0 million in the fourth quarter of 2017 and the third and fourth quarters of 2018, respectively. These funds may be moved back into the Bank’s deposit portfolio at the Bank’s discretion. The average balance of noninterest-bearing demand deposit accounts (“DDAs”) increased from $249.5 million, or 44.8% of total deposits, in the third quarter of 2018 to $276.9 million, or 49.3% of total deposits, in the fourth quarter of 2018. The Bank’s overall cost of funds increased, from 0.11% in the fourth quarter of 2017 to 0.17% in the third quarter of 2018 and 0.18% in the fourth quarter of 2018.

PROVISION FOR CREDIT LOSSES

The provision for credit losses is a charge against current earnings in an amount determined by management to be necessary to maintain the allowance for loan losses at a level sufficient to absorb management’s estimate of probable incurred credit losses inherent in the loan portfolio as of the balance sheet date in light of losses historically incurred by the Bank and adjusted for qualitative factors associated with the loan portfolio.

For the year ended December 31, 2018, the Bank recorded a provision for loan losses of $120 thousand, compared to a provision for loan losses of $175 thousand in the year ended December 31, 2017. In the fourth quarter of 2018, the Bank recorded a provision for loan losses of $100 thousand, compared to no provision in the third quarter of 2018, and a provision of $65 thousand in the fourth quarter of 2017. The fourth quarter provision was recorded primarily to recognize increased uncertainty in the overall economy, evidenced by the declining stock market and weakening markets internationally.

The changes in the provision reflect the growth of the portfolio, changes in the mix of loan types within the portfolio and their respective loss histories, as well as management’s assessment of the amounts expected to be realized from certain loans identified as impaired. Impaired loans totaled $3.0 million at December 31, 2018, compared to $3.3 million at September 30, 2018, and $5.2 million at December 31, 2017.

At December 31, 2018, non-performing loans were 0.56% of the total loan portfolio, compared to 0.60% at September 30, 2018 and 0.06% at December 30, 2017. The Bank recorded net recoveries of $13 thousand in the fourth quarter of 2018, compared to recoveries of $12 thousand during the third quarter of 2018 and the fourth quarter of 2017, respectively. At December 31, 2018, the allowance for loan losses was 1.35% of outstanding loans, compared to 1.33% at September 30, 2018 and 1.49% at December 31, 2017, respectively.

NON-INTEREST INCOME

Annual non-interest income increased 72.1%, from $1.16 million in the year ended December 31, 2017 to $1.99 million in the year ended December 31, 2018. Non-interest income recognized in the fourth quarter of 2018 was $541 thousand, including $59 thousand in gain on sale of Small Business Administration (“SBA”) guaranteed loans, compared to $471 thousand in the third quarter of 2018, which did not include a gain on sale. This represents an increase of $70 thousand, or 14.9%, compared to third quarter of 2018, and an increase of $230 thousand, or 73.9%, compared to the fourth quarter of 2017.

Management has been actively seeking to increase non-interest income across a range of sources, including account analysis fees, lockbox service fees, and mortgage brokerage fees. On an annual basis, the increase in non-interest income included a 22.9% increase in service charges on deposits, including lockbox and analysis fees, from $243 thousand to $299 thousand, a 26.8% decrease in gain on sale of loans, from $266 thousand to $194 thousand, and a 201.6% increase in other income, from $426 thousand to $1.29 million for the years ended December 31, 2017 and 2018, respectively. The increase in other income was attributable to increases in mortgage brokerage fees from $21 thousand to $80 thousand for 2017 and 2018, respectively, as well as an increase of $759 thousand in fees associated with its participation in the ICS reciprocal and one-way sell deposits program.

NON-INTEREST EXPENSES

Non-interest expenses decreased $83 thousand, or 2.1%, to $3.89 million in the fourth quarter of 2018, compared to $3.97 million for the third quarter of 2018, and increased $312 thousand, or 8.72%, compared to $3.57 million recognized in the fourth quarter of 2017. Salaries and benefits increased $41 thousand, or 1.65%, from $2.48 million in the third quarter of 2018 to $2.52 million in the fourth quarter of 2018.

For the year ended December 31, 2018, non-interest expenses were $15.57 million, an increase of $1.55 million, or 11.1%, compared to $14.02 million recognized in the year ended December 31, 2017. Salaries and benefits increased $1.36 million, or 15.6%, from $8.71 million to $10.07 million over the same period, reflecting an increase in average headcount from 78 employees for the year ended December 31, 2017 to 83 employees for the year ended December 31, 2018, as well as increases in insurance and benefit costs. These increases reflect the hiring primarily of loan production and underwriting personnel, including new regional leaders and additionally a new compliance manager. The Bank’s professional services expense decreased $172 thousand, or 23.8%, to $550 thousand in 2018, from $722 thousand in 2017, primarily because of the reduction in regulatory compliance consulting fees resulting from the aforementioned new full-time compliance manager.

The efficiency ratio (non-interest expenses divided by the sum of net interest income before provision for loan losses and non-interest income) was 58.3% for the fourth quarter of 2018, compared to 62.4% for the third quarter of 2018 and 65.8% for the fourth quarter of 2017. Annualized non-interest expenses as a percent of average total assets were 2.48%, 2.56%, and 2.49% for the fourth quarter of 2018, the third quarter of 2018, and the fourth quarter of 2017, respectively.

PROVISION FOR INCOME TAXES

The Bank’s effective book tax rate was 27.7% in the fourth quarter of 2018, compared to 27.3% for the third quarter of 2018 and 89.8% for the fourth quarter of 2017. The higher effective rate in the fourth quarter of 2017 reflected a $913 thousand increase in income tax expense resulting in an adjustment to the Bank’s net deferred tax assets resulting from the lowering of the corporate tax rate from 35% to 21% during December, 2017.

About 1st Capital Bank

The Bank’s primary target markets are commercial enterprises, professionals, real estate investors, family business entities, and residents along the Central Coast Region of California. The Bank provides a wide range of credit products, including loans under various government programs such as those provided through the U.S. Small Business Administration (“SBA”) and the U.S. Department of Agriculture (“USDA”). A full suite of deposit accounts is also furnished, complemented by robust cash management services. The Bank operates full service branch offices in Monterey, Salinas, King City, and San Luis Obispo. The Bank’s corporate offices are located at 150 Main Street, Suite 150, Salinas, California 93901. The Bank’s website is www.1stCapital.bank. The main telephone number is 831.264.4000. The primary facsimile number is 831.264.4001.

Member FDIC / Equal Opportunity Lender / SBA Preferred Lender

Forward-Looking Statements

Certain of the statements contained herein that are not historical facts are “forward-looking statements” within the meaning of and subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may contain words or phrases including, but not limited, to: ” believe,” “expect,” “anticipate,” “intend,” “estimate,” “target,” “plans,” “may increase,” “may fluctuate,” “may result in,” “are projected,” and variations of those words and similar expressions. All such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that might cause such a difference include, among other matters, changes in interest rates; economic conditions including inflation and real estate values in California and the Bank’s market areas; governmental regulation and legislation; credit quality; competition affecting the Bank’s businesses generally; the risk of natural disasters and future catastrophic events including terrorist related incidents and other factors beyond the Bank’s control; and other factors. The Bank does not undertake, and specifically disclaims any obligation, to update or revise any forward-looking statements, whether to reflect new information, future events, or otherwise, except as required by law.

This news release is available at the www.1stCapital.bank internet site for no charge.

For further information, please contact:

Thomas E. Meyer

or

Michael J. Winiarski

President and Chief Executive Officer

Chief Financial Officer

831.264.4057 office

831.264.4014 office

Tom.Meyer@1stCapitalBank.com

Michael.Winiarski@1stCapitalBank.com

1ST CAPITAL BANK
CONDENSED FINANCIAL DATA
(Unaudited)
(Dollars in thousands, except per share data)

December 31,

September 30,

June 30,

December 31,

Financial Condition Data1

2018

2018

2018

2017

Assets

Cash
and due from banks

$
6,476

$
5,408

$
5,078

$
7,727

Funds held at the Federal Reserve Bank2

45,625

33,571

45,124

56,249

Time
deposits at other financial institutions

–

996

996

1,743

Available-for-sale securities, at fair value

70,263

68,154

71,102

74,927

Loans receivable held for sale

–

1,000

1,000

–

Loans receivable held for investment:

Construction / land (including farmland)

21,353

22,396

16,866

16,301

Residential 1 to 4 units

150,677

147,205

140,124

115,340

Home
equity lines of credit

8,008

7,853

6,655

8,832

Multifamily

53,181

53,984

56,101

51,983

Owner occupied commercial real estate

62,976

65,628

64,048

67,326

Investor commercial real estate

139,261

131,736

128,289

105,196

Commercial and industrial

38,745

38,672

45,051

51,663

Other loans

13,189

17,127

16,956

11,292

Total loans

487,390

484,601

474,090

427,933

Allowance for loan losses

(6,548
)

(6,435
)

(6,423
)

(6,378
)

Net
loans

480,842

478,166

467,667

421,555

Premises and equipment, net

2,087

2,109

2,239

2,308

Bank
owned life insurance

7,866

7,813

7,759

7,654

Investment in FHLB3 stock, at cost

3,163

3,163

3,163

3,163

Accrued interest receivable and other assets

5,965

6,255

5,512

4,905

Total
assets

$
622,287

$
606,635

$
609,640

$
580,231

Liabilities and shareholders’ equity

Deposits:

Noninterest bearing demand deposits

$
281,695

$
248,036

$
247,247

$
261,705

Interest bearing checking accounts

33,144

35,274

31,693

35,082

Money market deposits

129,064

139,037

144,069

107,101

Savings deposits

99,340

109,530

117,155

110,058

Time
deposits

17,254

16,010

12,717

12,130

Total deposits

560,497

547,887

552,881

526,076

Accrued interest payable and other liabilities

2,625

2,344

2,093

2,163

Shareholders’ equity

59,165

56,404

54,666

51,992

Total
liabilities and shareholders’ equity

$
622,287

$
606,635

$
609,640

$
580,231

Shares outstanding

5,105,784

5,041,058

5,035,423

5,014,577

Nominal and tangible book value per share

$
11.59

$
11.19

$
10.86

$
10.37

Ratio
of net loans to total deposits

85.79
%

87.27
%

84.59
%

80.13
%

1 = Loans receivable held for investment are presented according to definitions applicable to the regulatory Call Report.
2 = Includes cash letters in the process of collection settled through the Federal Reserve Bank.
3 = Federal Home Loan Bank

1ST CAPITAL BANK
CONDENSED FINANCIAL DATA
(Unaudited)
(Dollars in thousands, except per share data)

Three Months Ended

December 31,

September 30,

June 30,

December 31,

Operating Results Data

2018

2018

2018

2017

Interest and dividend income

Loans

$
5,611

$
5,448

$
5,093

$
4,769

Investment securities

436

404

382

313

Federal Home Loan Bank stock

107

54

54

56

Other

236

222

143

130

Total interest and dividend income

6,390

6,128

5,672

5,268

Interest expense

Interest bearing checking

4

3

3

5

Money market deposits

134

123

81

70

Savings deposits

81

80

74

64

Time
deposits

41

28

14

9

Total interest expense on deposits

260

234

172

148

Interest expense on borrowings

–

–

–

–

Total interest expense

260

234

172

148

Net
interest income

6,130

5,894

5,500

5,120

Provision for loan losses

100

–

–

65

Net
interest income after provision

for
loan losses

6,030

5,894

5,500

5,055

Noninterest income

Service charges on deposits

78

78

72

68

BOLI
dividend income

53

54

53

55

Gain
on sale of loans

59

–

65

82

Other

351

339

407

106

Total noninterest income

541

471

597

311

1ST CAPITAL BANK
CONDENSED FINANCIAL DATA
(Unaudited)
(Dollars in thousands, except per share data)

Three Months Ended

December 31,

September 30,

June 30,

December 31,

2018

2018

2018

2017

Noninterest expenses

Salaries and benefits

2,523

2,482

2,583

2,194

Occupancy

292

299

288

282

Data
and item processing

193

204

197

183

Professional services

119

161

132

168

Furniture and equipment

116

137

123

120

Provision for unfunded loan

commitments

10

4

–

17

Other

633

682

683

611

Total noninterest expenses

3,886

3,969

4,006

3,575

Income before provision for income taxes

2,685

2,396

2,091

1,791

Provision for income taxes

745

654

581

1,609

Net
income

$
1,940

$
1,742

$
1,510

$
182

Common Share Data1

Earnings per common share

Basic

$
0.38

$
0.35

$
0.30

$
0.04

Diluted

$
0.38

$
0.34

$
0.29

$
0.04

Weighted average common shares outstanding

Basic

5,081,260

5,038,340

5,028,336

5,008,614

Diluted

5,166,613

5,147,292

5,130,832

5,097,412

1 = Earnings per common share and weighted average common shares outstanding have been restated to reflect the effect of the 7% stock dividend to shareholders of record November 21, 2018 and paid December 14, 2018.

1ST CAPITAL BANK
CONDENSED FINANCIAL DATA
(Unaudited)
(Dollars in thousands, except per share data)

Twelve Months Ended

December 31,

December 31,

Operating Results Data

2018

2017

Interest and dividend income

Loans

$
20,921

$
17,860

Investment securities

1,590

1,131

Federal Home Loan Bank stock

273

235

Other

774

536

Total interest and dividend income

23,558

19,762

Interest expense

Interest bearing checking

15

16

Money market deposits

411

308

Savings deposits

305

260

Time
deposits

92

36

Total interest expense in deposits

823

620

Interest expense on borrowings

3

–

Total interest expense

826

620

Net
interest income

22,732

19,142

Provision for loan losses

120

175

Net
interest income after provision for loan losses

22,612

18,967

Noninterest income

Service charges on deposits

299

243

BOLI
dividend income

212

221

Gain
on sale of loans

194

266

Other

1,285

426

Total noninterest income

1,990

1,156

1ST CAPITAL BANK
CONDENSED FINANCIAL DATA
(Unaudited)
(Dollars in thousands, except per share data)

Twelve Months Ended

December 31,

December 30,

2018

2017

Noninterest expenses

Salaries and benefits

10,069

8,712

Occupancy

1,169

1,057

Data
and item processing

791

726

Professional services

550

722

Furniture and equipment

502

485

Provision for unfunded loan commitments

8

36

Other

2,654

2,280

Total noninterest expenses

15,743

14,018

Income before provision for income taxes

8,859

6,105

Provision for income taxes

2,428

3,260

Net
income

$
6,431

$
2,845

Common Share Data1

Earnings per common share

Basic

$
1.28

$
0.57

Diluted

$
1.25

$
0.56

Weighted average common shares outstanding

Basic

5,042,023

4,962,200

Diluted

5,138,947

5,039,172

1 = Earnings per common share and weighted average common shares outstanding have been restated to reflect the effect of the 7% stock dividend to shareholders of record November 21, 2018 and paid December 14, 2018.

1ST CAPITAL BANK
CONDENSED FINANCIAL DATA
(Unaudited)
(Dollars in thousands)

December 31,

September 30,

June 30,

December 31,

Asset Quality

2018

2018

2018

2017

Loans past due 90 days or more and accruing

interest

$
–

$
–

$
–

$
–

Nonaccrual restructured loans

–

–

–

–

Other nonaccrual loans

2,711

2,906

198

255

Other real estate owned

–

–

–

–

$
2,711

$
2,906

$
198

$
255

Allowance for loan losses to total loans

1.35
%

1.33
%

1.35
%

1.49
%

Allowance for loan losses to nonperforming loans

241.53
%

221.44
%

3,243.94
%

2,501.18
%

Nonaccrual loans to total loans

0.56
%

0.60
%

0.04
%

0.06
%

Nonperforming assets to total assets

0.44
%

0.48
%

0.03
%

0.04
%

Regulatory Capital and Ratios

Common equity tier 1 capital

$
59,565

$
57,166

$
55,240

$
52,097

Tier
1 regulatory capital

$
59,565

$
57,166

$
55,240

$
52,097

Total regulatory capital

$
65,177

$
62,747

$
60,673

$
57,161

Tier
1 leverage ratio

9.55
%

9.35
%

9.35
%

9.14
%

Common equity tier 1 risk based capital ratio

13.30
%

12.83
%

12.74
%

12.91
%

Tier
1 risk based capital ratio

13.30
%

12.83
%

12.74
%

12.91
%

Total risk based capital ratio

14.55
%

14.09
%

14.00
%

14.16
%

Three Months Ended

December 31,

September 30,

June 30,

December 31,

Selected Financial Ratios1

2018

2018

2018

2017

Return on average total assets

1.24
%

1.12
%

1.03
%

0.13
%

Return on average shareholders’ equity

13.33
%

12.38
%

11.25
%

1.38
%

Net
interest margin

4.01
%

3.89
%

3.84
%

3.68
%

Net
interest income to average total assets

3.91
%

3.80
%

3.74
%

3.56
%

Efficiency ratio

58.26
%

62.36
%

65.70
%

65.83
%

1 = All Selected Financial Ratios are annualized other than the Efficiency Ratio.

Three Months Ended

December 31,

September 30,

June 30,

December 31,

Selected Average Balances

2018

2018

2018

2017

Gross loans

$
484,041

$
480,621

$
459,931

$
431,144

Investment securities

69,778

70,152

70,500

73,586

Federal Home Loan Bank stock

3,163

3,163

3,163

3,163

Other interest earning assets

49,212

46,534

41,454

44,568

Total interest earning assets

$
606,194

$
600,470

$
575,048

$
552,461

Total assets

$
622,259

$
615,388

$
590,041

$
569,812

Interest bearing checking accounts

$
36,273

$
34,883

$
34,207

$
36,702

Money market deposits

124,924

140,443

124,057

112,179

Savings deposits

106,889

117,023

120,962

109,936

Time
deposits

16,828

15,216

12,763

12,368

Total interest bearing deposits

284,914

307,565

291,989

271,185

Noninterest bearing demand deposits

276,866

249,488

241,852

243,874

Total deposits

$
561,780

$
557,053

$
533,841

$
515,059

Borrowings

$
–

$
–

$
–

$
1

Shareholders’ equity

$
57,751

$
55,858

$
53,844

$
52,365

1ST CAPITAL BANK
CONDENSED FINANCIAL DATA
(Unaudited)
(Dollars in thousands)

Twelve Months Ended

December 31,

December 31,

Selected Financial Ratios

2018

2017

Return on average total assets

1.07
%

0.51
%

Return on average shareholders’ equity

11.67
%

5.65
%

Net
interest margin

3.86
%

3.50
%

Net
interest income to average total assets

3.77
%

3.41
%

Efficiency ratio

63.68
%

69.06
%

1 = All Selected Financial Ratios are annualized other than the Efficiency Ratio.

Twelve Months Ended

December 31,

December 31,

Selected Average Balances

2018

2017

Gross loans

$
466,572

$
415,893

Investment securities

71,063

74,408

Federal Home Loan Bank stock

3,163

3,093

Other interest earning assets

47,481

54,228

Total interest earning assets

$
588,279

$
547,622

Total assets

$
603,319

$
561,427

Interest bearing checking accounts

$
35,258

$
34,641

Money market deposits

126,268

120,229

Savings deposits

116,264

110,477

Time
deposits

14,352

12,908

Total interest bearing deposits

292,142

278,255

Noninterest bearing demand deposits

253,399

230,951

Total deposits

$
545,541

$
509,206

Borrowings

$
230

$
11

Shareholders’ equity

$
55,085

$
50,356

SOURCE: 1st Capital Bank

ReleaseID: 534123

VICTORIA, BC / ACCESSWIRE / January 31, 2019 / Erin Ventures Inc. (TSXV: EV) (OTCQB: ERVFF) (“Erin Ventures Inc.” or the “Company”) is pleased to announce that its common shares are now trading on the OTCQB Venture Market (“OTCQB”), a U.S. trading platform that is operated by OTC Markets Group in New York. The Company will trade on OTCQB under the symbol “ERVFF”; the Company’s common shares will continue to trade on the TSX Venture Exchange under the symbol “EV”.

OTCQB is a premier market for entrepreneurial and development stage U.S. and international companies that are committed to providing a high-quality trading and information experience for their U.S. investors. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process. The OTCQB Venture Market quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors.

On behalf of the Board of Directors,
Blake Fallis, General Manager

About Erin Ventures

Erin Ventures Inc. is an international mineral exploration and development company with boron assets in Serbia. Headquartered in Victoria, B.C., Canada, Erin’s shares are traded on the TSX Venture Exchange under the symbol “EV” and OTCQB Venture Market under the symbol “ERVFF”. For detailed information please see Erin’s website at www.erinventures.com or the Company’s filed documents at www.sedar.com.

For further information, please contact:

Erin’s Public Quotations

Erin Ventures Inc.
Blake Fallis, General Manager
Phone: 1-250- 384-1999 or 1-888-289-3746
info@erinventures.com
www.erinventures.com

Canada
TSX Venture: EV

Europe
Berlin: EKV

USA
OTCQB: ERVFF

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 release.

Forward Looking Statements:

Certain statements in this news release may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements concerning (i) the Agreement, (ii) Option 1; (iii) Option 2; (iii) anticipated approvals; (iv) the time to the exercise of Option 1 and Option 2; and (v) results of the completion of the transactions contemplated in this news release. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans” or “continue”, or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by such statements. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, the risks that: (1) the information provided to Erin by InvestCo turns out to be misleading, untrue or incomplete; (2) neither Option 1 nor Option 2 may be completed for any reason whatsoever, including that regulators may not approve the proposed Options; (3) the closings may not occur as scheduled or at all; and (4) Erin may not achieve the results currently anticipated. Although Erin believes that the expectations reflected in its forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because Erin can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified in this news release, assumptions have been made regarding and are implicit in, among other things, the timely receipt of required regulatory approvals. Details of the risk factors relating to Erin and its business are discussed under the heading “Risks and Uncertainties” in Erin’s most recent regulatory filings which are posted on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Erin and described in the forward looking information. The forward-looking information contained in this news release is made as of the date hereof and Erin undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

SOURCE: Erin Ventures Inc.

ReleaseID: 534120

This press release replaces the press release disseminated January 28, 2019 at 4:30PM ET. The press release did not contain the financial tables.

JASPER, IN / ACCESSWIRE / January 31, 2019 / SVB&T Corporation (OTCQX: SVBT), the parent company of Springs Valley Bank & Trust Company, has announced that the Corporation will transition from an annual to a quarterly dividend payout structure and will pay a quarterly cash dividend of $0.25 per share to all shareholders of record as of March 15, 2019, payable on or about April 15, 2019. This is a 5.26% annualized increase over the annual dividend paid in December 2018.

The book value of SVB&T Corporation’s stock was $72.71 per share as of December 31, 2018. The last reported trade of stock at the close of business on January 24, 2019 was $79.60 per share, and the number of outstanding shares was 559,136 as of the same date.

Net Income for the year ended December 31, 2018 increased by $696,000 or 20.16% to $4.1 million ($7.42 per diluted common share) over the same period in 2017. Total Interest Income for the year was $16.8 million, or 13.75% over the same period 2017. Total Interest Expense for the year was $3.9 million, or 50.51% over the same period 2017. Although the rising rate environment supported higher yields on SVB&T Corporation’s asset portfolio and the Corporation experienced healthy growth in its loan assets, the uptick in interest income was partially offset by the increase in SVB&T’s cost of funds resulting from both deposit base and borrowings. With regard to borrowings, $134,000 of the increase in Total Interest Expense resulted from the subordinated debt issuance in August of 2018. This resulted in Net Interest Income of $12.9 million, which was an increase of $731,000 or 6.01% over the same period 2017.

The 2017 Tax Cuts and Jobs Act reduced SVB&T Corporation’s 2018 federal corporate income tax rate from 34% to 21%. Federal income tax expense was $743,000 on taxable income of $4.9 million for the twelve month period ended December 31, 2018, compared to federal income tax expense of $1.1 million on taxable income of $4.6 million for the twelve month period ended December 31, 2017. The decrease in federal income tax expense accounted for approximately 53.02% of the $696,000 increase in Net Income from 2017 to 2018.

SVB&T Corporation ended the year with $305.9 million in Loans Net of Allowance for Loan Losses, a 7.26% increase over the balance at December 31, 2017. Total Deposits ended the year at $331.9 million, a 5.34% increase over Total Deposits as of December 31, 2017. Stockholder’s Equity ended the year at $40.7 million, an 8.74% increase over Stockholder’s Equity as of December 31, 2017.

Return on Average Assets (ROAA), Return on Average Equity (ROAE) and Capital Ratio remain very strong. This translates to 2018 ROAA of 1.05%, ROAE of 10.74% and Tangible Capital Ratio of 10.14%. Comparatively, SVB&T’s 2017 ROAA was 0.94%, ROAE was 9.53% and Tangible Capital Ratio was 9.82%.

For the 4th quarter of 2018, SVB&T Corporation saw earnings of $1.0 million increase by 22.04% over 4th quarter 2017. Total Interest Income of $4.4 million, or 15.43% over the same period 2017, was partially offset by increasing cost of funds as Total Interest Expense for the period was $1.1 million, or 57.30% over the same period 2017. This resulted in Net Interest Income of $3.3 million, which was an increase of $181,000 or 5.83% over the same period 2017.

Management and the Board are pleased with the operating results the Bank generated for the year despite continuing margin pressure from a rising interest rate environment. “2018 marks the 7th consecutive year of record financial performance (2012-2018) in the history of the 116-year old company,” stated President & CEO Jamie Shinabarger, adding, “All the favorable aforementioned performance metrics are great, but without a more visible, easy to use stock buy-sell platform, converting this performance to shareholder value would be challenging to say the least. SVB&T Corporation joining the OTCQX Market in mid-2018 was a major strategic move in pursuit of liquidity and shareholder value.” For the twelve month period ending December 31, 2018, the total return to shareholders was 22.64% (calculated by subtracting the December 31, 2017 book value of $65.23 from the closing market value on the OTCQX exchange at December 31, 2018 of $79.05, representing $13.82 per share in appreciation. In addition to appreciation, with a dividend of $0.95, a total dollar return equivalent over the period was $14.77 per share).

SVB&T Corporation is headquartered at 8482 West State Road 56, French Lick, Indiana 47432 with administrative offices at 1500 Main Street, Jasper, Indiana 47546. Springs Valley has two locations in both Dubois and Orange Counties. Its subsidiary, Springs Valley Bank & Trust Company, offers full-service bank and trust services. Springs Valley has products and services for all types of families and businesses, including checking and savings accounts, certificates of deposit, electronic services, online mortgage applications and a variety of other loan options. In addition, the company has a full-service trust department managed by experienced, talented professionals specializing in estate planning, tax planning and wealth management. Investment Services are also offered by a licensed, professional Springs Valley representative. More information can be found online at
www.svbt.bank. The company’s stock is traded on the OTCQX trading platform under ticker symbol SVBT (www.otcmarkets.com).

Information conveyed in this press release regarding SVB&T Corporation and its subsidiaries’ anticipated future performance is forward-looking and therefore involves risks and uncertainties that could cause the results or developments to differ significantly from those indicated in these statements. These risks and uncertainties include, but are not limited to, risks and uncertainties inherent in general and local banking as well as mortgage conditions, competitive factors specific to markets in which the company and its subsidiaries operate, future interest rate levels, changes in local real estate markets, legislative and regulatory decisions or capital market conditions and other factors.

Springs Valley Bank is a member of FDIC and is an Equal Housing Lender.

Selected Consolidated Financial Data of SVB&T Corporation
(In Thousands, Except Shares Outstanding and Per Share Data)

Unaudited

Audited

31-Dec

31-Dec

2018

2017

Assets

Cash
and Due From Banks

$
8,932

$
9,204

Interest Bearing Time Deposits

1,175

2,930

Fed
Funds Sold

7,068

9,366

Available for Sale Securities

55,644

51,678

Other
Investments

2,236

2,169

Loans
held for sale

150

707

Loans
net of allowance for loan losses

305,879

285,163

Premises and Equipment

5,273

5,521

Bank-owned Life Insurance

8,052

7,877

Accrued Interest Receivable

1,824

1,629

Foreclosed Assets Held for Sale

58

65

Other
Assets

4,663

4,523

Total Assets

400,954

380,832

Liabilities and Stockholders Equity

Non-interest bearling deposits

52,178

61,032

Interest bearing deposits

279,676

254,011

Borrowed Funds

19,710

24,149

Subordinated Debentures

5,000

0

Accrued interest payable and other liabilities

3,738

4,255

Total Liabilities

360,302

343,447

Stockholders’ equity – substantially restricted

40,652

37,385

Total Liabilities and Shareholders’
Equity

400,954

380,832

Three Months Ended

Twelve Months Ended

31-Dec

31-Dec

2018

2017

2018

2017

Operating Data:

Interest & Dividend Income

$
4,407

$
3,818

$
16,761

$
14,735

Interest Expense

1,120

712

3,859

2,564

Net Interest Income

$
3,287

$
3,106

$
12,902

$
12,171

Provision for Loan Loss

82

0

751

523

Net Interest Income after Provision for Loan Losses

$
3,205

$
3,106

$
12,151

$
11,648

Fiduciary activitities

688

718

2,901

2,900

Customer service fees

342

324

1,292

1,078

Increase in cash surender value of life insurance

44

45

174

178

Other
income

154

184

822

675

Total noninterest income

1,228

1,271

5,189

4,831

Salary & employee benefits

1,889

1,956

7,002

7,066

Occupancy

353

376

1,460

1,430

Data
processing

281

237

1,208

999

Deposit insurance premium

30

37

138

133

Professional fees

199

213

877

579

Other
expenses

475

480

1,763

1,707

Total noninterest expense

3,227

3,299

12,448

11,914

Income before Income Taxes

1,206

1,078

4,892

4,565

Income Tax Expense

176

234

743

1,112

Net
Income

$
1,030

$
844

$
4,149

$
3,453

Shares Outstanding

559,136

558,689

559,136

562,184

Average Shares – Basic

559,044

558,689

558,903

562,184

Average Shares – Diluted

559,136

559,136

559,136

562,649

Basic
Earnings per Share

$
1.84

$
1.52

$
7.42

$
6.14

Diluted Earnings per Share

$
1.84

$
1.52

$
7.42

$
6.13

Other
Data:

Yield
on all Interest-earning Average Assets

4.47
%

4.23
%

4.26
%

4.25
%

Cost
on all Interest-bearing Average Liabilities

1.29
%

0.73
%

0.94
%

0.71
%

Interest Rate Spread

3.18
%

3.50
%

3.32
%

3.54
%

Net
Interest Margin

3.44
%

3.66
%

3.51
%

3.70
%

Number of Full Service Banking Centers

4

4

4

4

Return on Average Assets (net income divided by average total assets)

1.02
%

0.90
%

1.05
%

0.94
%

Average Assets

$
402,346

$
376,712

$
395,942

$
368,526

Return on Average Equity (net income divided by average total equity)

10.43
%

9.15
%

10.74
%

9.53
%

Average Equity

$
39,522

$
37,043

$
38,629

$
36,212

Equity to Assets Ratio (EOP)

10.14
%

9.82
%

10.14
%

9.82
%

Book
Value per Share

N/A

N/A

$
72.71

$
66.92

Market Value per Share as of December 31, 2018 Close

N/A

N/A

$
79.05

N/A

SOURCE: SVB&T Corporation

ReleaseID: 534122