SUBIACO, WA / ACCESSWIRE / February 25, 2019 / Gold developer West African Resources Limited (ASX, TSXV: WAF) is pleased to report reserve definition drilling at the M1 South and M5 deposits is complete and all results have been received for the upcoming optimised feasibility study for the Sanbrado Gold Project, Burkina Faso.

Highlights

M1 South

3.5m at 13.3 g/t Au from 545m, including 0.5m at 57.4 g/t Au
2m at 18.9 g/t Au from 415m, including 1m at 33.8 g/t Au
1m at 85.8 g/t Au from 164m
3.5m at 41 g/t Au from 175m
6.5m at 61.8 g/t Au from 258.5m, including 3m at 132 g/t Au

M5

4m at 13.1 g/t Au from 238m including 1m at 48 g/t Au
4m at 10.3 g/t Au from 404m and 7m at 2.2 g/t Au from 416m
14m at 12 g/t Au from 510m including 1m at 49.9 g/t Au
1m at 17.9 g/t Au from 253m

– Reserve definition drilling completed at M1 South and M5 for optimised feasibility study
– Reserve update and optimised feasibility study on track for completion end Q1 2019
– Fully funded for development, construction underway, first gold pour scheduled for Q3 2020

Managing Director Richard Hyde commented:

“Reserve definition drilling has been completed for the upcoming feasibility study update for Sanbrado. High grade mineralisation has been confirmed with drilling returning 6.5m at 61.8 g/t Au from 258.5m, including 3m at 132 g/t Au.

“The Company is also on track to complete an optimised feasibility study incorporating reserve updates with increased plant throughput delivering higher annual gold production, by the end of Q1 2019.

“The Company is fully funded, construction is underway, and first gold production is scheduled for Q3 2020.”
Click here to view the ASX announcement

SOURCE: West African Resources Limited

ReleaseID: 536913

Not for Distribution to United States Newswire Services or for Dissemination in the United States

OTTAWA, ON / ACCESSWIRE / February 25, 2019 / InterRent Real Estate Investment Trust (TSX-IIP.UN) (“InterRent” or the “REIT”) today reported financial results for the fourth quarter and year-ended December 31, 2018 as well as appointment of new Trustee.

InterRent is pleased to announce the appointment of John Jussup to fill the vacancy that resulted from the resignation of Victor Stone from the Board. “John’s background and experience with Cognos and Bank of Canada as well as his previous board experience and knowledge of public markets and real estate make him an excellent addition to the Board of Trustees. On behalf of the Board, I would like to thank Mr. Stone for all his wonderful service and welcome Mr. Jussup to the Board,” said Paul Amirault, Chair of the Board of Trustees.

Mr. Stone served as a Trustee since the formation of the REIT in 2007 and has been a staunch supporter of the REIT since inception. Mr. Stone’s resignation is for personal health reasons. “Vic has been a tremendous resource for the REIT over the past 12 years as the REIT navigated through some difficult times. He has been not only a great mentor but also became a true friend,” said Mike McGahan, CEO.

Highlights

Operating revenues for the three months ended December 31, 2018, increased by 14.6%, or $4.4 million, to $34.1 million. Operating revenues for the year increased by 16.8%, or $18.3 million, to $127.3 million.
Operating revenues for the three months ended December 31, 2018 from the same property portfolio increased by 8.1%, or $2.1 million, to $27.9 million. Operating revenues from the same property portfolio for the year increased by 7.8%, or $7.7 million, to $106.4 million.
Average monthly rent per suite for the portfolio increased to $1,190 (December 2018) from $1,110 (December 2017), an increase of 7.2%. Average monthly rent from the same property portfolio increased by 8.0% to $1,191 per suite (December 2018) from $1,103 per suite (December 2017).
Occupancy for the overall portfolio was 96.6%, down 130 basis points (December 2018 compared to December 2017). Occupancy for the same property portfolio was 96.6% in December 2018 (no change relative to December 2017).
Net Operating Income (NOI) for the three months ended December 31, 2018 increased by $3.9 million, or 21.6%, to $22.3 million. NOI margin for the three months ended December 31, 2018 was 65.5%, up 370 basis points over the same period in 2017. NOI for the year increased by $16.0 million, or 24.3%, to $82.2 million. NOI margin for the year was 64.6%, up 390 basis points year-over-year.
Same property NOI for the three months ended December 31, 2018 increased by $2.6 million, or 16.2%, to $18.5 million. Same property NOI margin for the quarter was 66.3%, up 460 basis points over the same period in 2017. Same property NOI for the year-ended 2018 increased by $8.8 million, or 14.6%, to $69.6 million. Same property NOI margin for the full year was up 380 basis points year-over-year to 65.4%.
Funds From Operations (FFO) per fully diluted unit was $0.114 for the quarter (no change relative to Q4 2017) and $0.447 for the year, an increase of 5.4% over 2017.
Adjusted Funds From Operations (AFFO) per fully diluted unit was $0.101 for the quarter (no change relative to Q4 2017) and $0.391 for the year, an increase of 4.5% over 2017.
Debt-to-GBV ratio decreased significantly by 890 basis points from 47.8% (December 2017) to 38.9% (December 2018). This was due to a combination of: two equity financings in March 2019 and August 2019, resulting in net proceeds of $203.5 million; and, value created as a result of our repositioning program.
The weighted average interest rate on mortgage debt increased by 23 basis points from 2.81%, at December 31, 2017, to 3.04%, at December 31, 2018. Over the same period, the weighted average life to maturity has increased from 4.9 years to 6.0 years and mortgage debt backed by CMHC insurance has increased from 67% to 80%. Exposure to variable interest rate debt has decreased from 28% (December 2017) to approximately 13% (December 2018).
2018 was another active year for the REIT, with a total of 638 rental suites and two parcels of land in our core market acquired for $178.2 million. Subsequent to year-end the REIT has acquired a portfolio of 253 suites in Montreal for $59.0 million and disposed of the Sault Ste. Marie portfolio of 349 suites for $35.3 million.

Financial Highlights

Selected Consolidated Information
In $000’s, except per Unit amounts
and other non-financial data

3 Months
Ended
December
31, 2018

3 Months
Ended

December
31, 2017

Change

12 Months
Ended
December
31, 2018

12 Months
Ended
December
31, 2017

Change

Total suites

Average rent per suite (December)

Occupancy rate (December)

–

–

–

–

–

–

–

–

–

9,299

$1,190

96.6%

8,660

$1,110

97.9%

+7.4%

+7.2%

-130bps

Operating revenues

Net operating income (NOI)

NOI %

$34,062

22,312

65.5%

$29,710

18,356

61.8%

+14.6%

+21.6%

+370bps

$127,286

82,218

64.6%

$109,004

66,166

60.7%

+16.8%

+24.3%

+390bps

Same Property average rent per suite (December)

Same Property occupancy rate (December)

Same Property NOI

Same Property NOI %

–

–

18,474

66.3%

–

–

15,905

61.7%

–

–

+16.2%

+460bps

$1,191

98.0%

69,621

65.4%

$1,103

98.0%

60,771

61.6%

+8.0%

–

+14.6%

+380bps

Net Income

$42,188

$42,345

-0.4%

$168,297

$200,980

-16.3%

Funds from Operations (FFO)

FFO per weighted average unit – diluted

$12,474

$0.114

$9,645

$0.114

+29.3%

–

$44,910

$0.447

$34,662

$0.424

+29.6%

+5.4%

Adjusted Funds from Operations (AFFO)

AFFO per weighted average unit – diluted

$11,066

$0.101

$8,502

$0.101

+30.2%

–

$39,294

$0.391

$30,570

$0.374

+28.5%

+4.5%

Distributions per unit

$0.07083

$0.06525

+8.6%

$0.27333

$0.24750

+10.4%

Adjusted Cash Flow from Operations (ACFO)

$15,357

$12,080

+27.1%

$46,944

$38,162

+23.0%

Debt to GBV

–

–

–

38.9%

47.8%

-890bps

Interest coverage (rolling 12 months)

–

–

–

2.93x

2.76x

+0.17x

Debt service coverage (rolling 12 months)

–

–

–

1.81x

1.78x

+0.03x

Gross rental revenue for the year ended December 31, 2018 increased 16.2% to $126.0 million compared to $108.5 million for the prior year. Operating revenue for the year was up $18.3 million to $127.3 million, or 16.8% compared to the prior year. NOI for the twelve months ended December 31, 2017 amounted to $82.2 million or 64.6% of operating revenue compared to $66.2 million or 60.7% of operating revenue for 2017.

InterRent’s focus on recycling capital and growing its core markets of GTA (including Hamilton), Ottawa/NCR and Montreal has resulted in approximately 81% of InterRent’s suites now being located in these core markets.

For the same property portfolio, operating revenues for the year ended December 31, 2018 increased 7.8% to $106.4 million compared to $98.7 million for the prior year. Same property NOI for the twelve months ended December 31, 2018 amounted to $69.6 million or 65.4% of same property operating revenues compared to $60.8 million or 61.6% of same property operating revenues for 2017. These increases were largely the result of continued strong revenue growth combined with reductions in operating costs and utility costs as a percentage of operating revenue.

“We are pleased with the progress made in 2018 as we continue to assemble a best in class portfolio of properties and operating platform supported by a team that is eager to learn, grow and improve every day in order to better serve our customers,” said Mike McGahan, Chief Executive Officer of the REIT.

About InterRent

InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties. InterRent’s primary objectives are: (i) to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.

*Non-GAAP Measures

InterRent prepares and releases unaudited quarterly and audited consolidated annual financial statements prepared in accordance with IFRS (GAAP). In this and other earnings releases, as a complement to results provided in accordance with GAAP, InterRent also discloses and discusses certain non-GAAP financial measures, including Gross Rental Revenue, NOI, Same Property results, FFO, AFFO, ACFO and EBITDA. These non-GAAP measures are further defined and discussed in the MD&A dated February 25, 2019, which should be read in conjunction with this press release. Since Gross Rental Revenue, NOI, Same Property results, FFO, AFFO, ACFO and EBITDA are not determined by GAAP, they may not be comparable to similar measures reported by other issuers. InterRent has presented such non-GAAP measures as Management believes these measures are relevant measures of the ability of InterRent to earn and distribute cash returns to Unitholders and to evaluate InterRent’s performance. These non-GAAP measures should not be construed as alternatives to net income (loss) or cash flow from operating activities determined in accordance with GAAP as an indicator of InterRent’s performance.

Cautionary Statements

The comments and highlights herein should be read in conjunction with the most recently filed annual information form as well as our consolidated financial statements and management’s discussion and analysis for the same period. InterRent’s publicly filed information is located at www.sedar.com.

This news release contains “forward-looking statements” within the meaning applicable to Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. InterRent is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. A full description of these risk factors can be found in InterRent’s most recently publicly filed information located at www.sedar.com. InterRent cannot assure investors that actual results will be consistent with these forward looking statements and InterRent assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

For further information about InterRent please contact:

Mike McGahan
Chief Executive Officer
Tel: (613) 569-5699 Ext 244
Fax: (613) 569-5698
e-mail: mmcgahan@interrentreit.com

Brad Cutsey, CFA
President
Tel: (613) 569-5699 Ext 226
Fax: (613) 569-5698
e-mail: bcutsey@interrentreit.com

Curt Millar, CPA, CA
Chief Financial Officer
Tel: (613) 569-5699 Ext 233
Fax: (613) 569-5698
e-mail: cmillar@interrentreit.com

web site: www.interrentreit.com

SOURCE: InterRent Real Estate Investment Trust

ReleaseID: 536853

VANCOUVER, BC / ACCESSWIRE / February 25, 2019 / Eviana Health Corporation (“Eviana”. the “Company”) (CSE: EHC) (OTC: EVNNF) is pleased to announce a term sheet has been signed for a proposed transaction (the “hemp transaction”) whereby a wholly-owned Eviana subsidiary is to sell 155 metric tonnes (prior to sorting or initial processing) of industrial hemp located in Mladenovo, Serbia (the “hemp assets”) currently in inventory, to ICC International Cannabis Corp. (“ICC”) (CSE: WRLD.U) (FWB: 8K51) (OTC: KNHBF).

As consideration for the purchase of the hemp assets, ICC will issue 26,081,287 of its shares at a deemed price of US$0.35 per share, one-third of which will be subject to a four month and a day hold period, one-third to an eight month hold period, and the final third to a 12 month hold period,

The hemp transaction is conditional on the parties entering into an advisory services agreement whereby ICC will provide certain distribution and branding services to Eviana, an extraction tolling agreement whereby Eviana will convert the hemp assets into CBD concentrate, and the hemp transaction closing on or before March 31, 2019.

Access Alternative Group S.A. advised on the transaction on behalf of Eviana.

About Eviana

Eviana controls a Serbian industrial hemp license, which permits the cultivation, processing and sale of industrial hemp. Serbia has become an ideal destination to cultivate industrial hemp due to its fertile land parcels, access to established irrigation systems, low cost production, as well as an experienced agricultural workforce. Eviana has amassed total processed industrial hemp inventories of approximately 310 metric tonnes in 2018.

Eviana is mandated with delivering customized consumer health care products using natural hemp strains of cannabis sativa for CBD-based topical creams and products and cosmeceutical and nutraceutical merchandise.

About ICC

ICC International, through its subsidiaries, has operating assets and is developing a world-class platform for cultivation, extraction, formulation and distribution across the globe in the United Kingdom, Denmark, Poland, Switzerland, Germany, Macedonia, Bulgaria, Serbia, Croatia, Greece, Italy, Portugal, Malta, Colombia, Argentina, Australia, South Africa and Lesotho.

Disclaimer

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release. Not for distribution to U.S. news wire services or dissemination in the United States. This news release contains certain statements that constitute forward-looking statements as they relate to the Company and its management. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct. By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, the Company will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, the Company assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: risks of future legal proceedings, regulatory approval of the issuance of securities, and potential dilution.

SOURCE: Eviana Health Corporation

ReleaseID: 536847

VANCOUVER, BC / ACCESSWIRE / February 25, 2019 / The Wonderfilm Media Corporation (TSX-V: WNDR), (OTC PINK: WDRFF), (FRA: 25Y), (“Wonderfilm” or “Company”), a technology, media and entertainment company, is pleased to recognize and congratulate our newest producing partners and Oscar winning duo, Shaun Redick & Yvette Yates Redick on their success of ‘BlacKkKlansman’, which garnered the Best Adapted Screenplay Oscar at the 91st Academy Awards held on February 24, 2019. The award further solidifies Shaun & Yvette as industry leading producers whom are able to develop story ideas into silver screen successes. BlacKkKlansman’s Oscar win and nominations are tremendous follow-ups for Shaun and Yvette as their feature film, ‘Get Out’, won the Academy Award for Best Screenplay at last year’s award ceremony.

Shaun & Yvette’s company, Impossible Dream Entertainment (“iDream Ent.”), packaged and produced ‘BlacKkKlansman’, while the film was directed by the iconic and celebrated Spike Lee. This feature has currently surpassed a worldwide theatrical gross of approximately $90,000,000 USD. iDream Ent’s 2017 feature, ‘Get Out’, directed by filmmaker Jordan Peele for Universal Pictures, achieved an amazing worldwide theatrical gross of $255,000,000 USD.

“Shaun and Yvette have an exceptional eye for identifying exciting content and being able to transform those ideas into award winning, high grossing movies,” said Kirk Shaw, CEO of Wonderfilm. “In BlacKkKlansman’s case, the production duo optioned the book and oversaw development of the story into a screenplay alongside the director Spike Lee. It truly takes unique talent and rare skill to recognize an idea’s potential and further guide it through the process of becoming a feature film that gains multiple Oscar nominations. This year’s Oscar nod further demonstrates what I’ve known for years, that few producers match Shaun and Yvette’s creative and business acumen. Everyone at Wonderfilm looks forward to working with Shaun and Yvette this year on our combined movie slate.”

ABOUT WONDERFILM MEDIA

Wonderfilm is a leading publicly traded (TSX Venture Exchange) entertainment company with production offices in Los Angeles, corporate offices in Vancouver BC and its Asian distribution office in Seoul, South Korea. Founded by 4 producers, Kirk Shaw, Daniel Grodnik, Jeff Bowler and Bret Saxon, the Company’s core business is producing market-driven independent feature films and quality television series for multi-platform global exploitation. Current productions include the feature films, Moose (starring John Travolta) and Primal (starring Nicolas Cage.) Wonderfilm is a producer and distributor only for the projects disclosed. The legal ownership of movie productions are held in a special purpose legal entity held at arm’s length to the Company to facilitate for the qualification of various levels of domestic and foreign government tax credit incentives that are customary in the film and production business.

ABOUT KIRK SHAW

Over his 30-year career, Kirk’s producer credits exceed 230 movies and six series making him Hollywood’s second most prolific film producer in history. Best known for his business and financing prowess, Kirk has contributed his talents to both U.S. television series and feature films, including the Oscar winning, “The Hurt Locker.” Kirk’s worked with all major studios, plus many notable “A” list stars such as Charlize Theron, John Travolta, Woody Harrelson, Kim Basinger, John Cusack, Ray Liotta, Nicolas Cage, Thomas Jane and Cuba Gooding Jr. Among his many past successes, is the creation of Canada’s largest production company, Insight Film Studios, which in 2007 and 08 did $100 million consolidated revenue each year. To jump-start Wonderfilm’s production acquisitions and library exploitation, Kirk vended 46 completed movies into Wonderfilm.

Neither the TSX Venture Exchange Inc. (“Exchange”) nor its regulation services provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release

Cautionary Statements

This press release contains forward-looking statements that are subject to substantial risks, uncertainties and assumptions. All statements other than statements of historical fact contained in this press release are forward-looking statements. These statements often include words such as “believe,” “expect,” “target,” “anticipate,” “forecast,” “intend,” “plan,” “projects,” “seek,” “will,” “may” or similar expressions. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Wonderfilm’s control and Wonderfilm’s actual results could well differ materially from those stated or implied in forward-looking statements due to many various factors.

Although Wonderfilm believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward-looking statements. All such reflect the date made only. Wonderfilm undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further details, please see the Company’s documents filed on the System for Electronic Document Analysis and Retrieval at www.sedar.com.

Further Information

For further information, please contact:

Kirk Shaw
The Wonderfilm Media Corporation,
Chief Executive Officer
Telephone: (604) 638-4890
Email: info@wonderfilm.com

Prit Singh
Investor Relations
Telephone: 905-5107636
Email: psingh@thesiscapital.ca

SOURCE: The Wonderfilm Media Corporation

ReleaseID: 536848

CALGARY, AB and SAN ANTONIO, TX / ACCESSWIRE / February 25, 2019 / Emerald Bay Energy Inc. (TSX Venture: EBY, OTC: EMBYF) (the “Company” or “Emerald Bay”) announced today that drilling is complete and production casing has been set in the wildcat well at the Company’s Bauer prospect in South Texas.

About Emerald Bay

Emerald Bay Energy Inc. (TSX Venture: EBY, OTC: EMBYF) is an energy company with oil producing properties in Southwest Texas as well as non-operated oil and natural gas interests in Central Alberta, Canada. EBY is the operator of the Wooden Horse and Nash Creek Projects in Guadeloupe, Texas, where the Company currently now owns a 50.00% working interest those projects. Additionally, the Company owns and operates various working interests in the HugoCellR, Cotulla, and MarPat partnerships. The Company also owns 75% of Production Resources Inc., a South Texas oil company.

For all upcoming news releases, articles, comments and questions, to stay updated and speak with management about Emerald Bay Energy. Please JOIN our Investor Information Group at:
http://bit.ly/8020EBY

For further information, please contact:

Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000
Email: info@ebyinc.com
www.ebyinc.com

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.

SOURCE: Emerald Bay Energy Inc.

ReleaseID: 536843