VANCOUVER, BC / ACCESSWIRE / August 28, 2019 / Grande West Transportation Group Inc. (TSXV:BUS)(OTC PINK:GWTNF) (“Grande West” or the “Company”), a Canadian manufacturer of mid-sized multi-purpose transit vehicles for sale in Canada and the United States, announced today financial results for the second quarter ending June 30, 2019.

Second Quarter Highlights and Recent Developments

Bus revenue of $10,972,752 for the three months ended June 30, 2019 compared to $24,239,624 for the three months ended June 30, 2018
Aftermarket parts and other revenue of $906,109 for the three months ended June 30, 2019 compared to $1,054,670 for the three months ended June 30, 2018
Net loss of $434,507 for the three months ended June 30, 2019 compared to a net income of $1,991,450 for the three months ended June 30, 2018
Adjusted EBITDA of $347,468 for the three months ended June 30, 2019 compared to an adjusted EBITDA of $2,879,094 for the three months ended June 30, 2018 (see “Reconciliation of Net Earnings to Adjusted EBITDA”)
Deliveries of 25 Vicinity buses for the three months ended June 30, 2019 compared to 61 buses delivered for the three months ended June 30, 2018

Selected Quarterly and Periodic Information

The following table shows the financial results and liquidity of the Company for the second quarter ended June 30, 2019 and June 30, 2018.

The results of operations for these periods are not necessarily indicative of the results of operations to be expected in any given comparable period.

(unaudited)

3 months ended

June 30, 2019

$

3 months ended

June 30, 2018

$

Revenue

11,878,861

25,294,294

Gross margin

2,341,956

4,856,009

Net (loss) income

(434,507
)

1,991,450

Basic and diluted earnings per share

(0.01
)

0.03

The Company reports Q2 2019 results of 25 Vicinity buses delivered, revenue of $11,878,861, net loss of $434,507 and gross margin of $2,341,956, which was 20% of revenue. Results for the second quarter of 2018 were 61 buses delivered, revenue of $25,294,294, net income of $1,991,450 and gross margin of $4,856,009, which was 19% of revenue.

Backlog: Current total firm orders are for over 150 buses valued at over $55 million. Deliveries will vary from quarter to quarter to account for different build specifications, customer acceptance and revenue recognition.

Selected Liquidity Items

(unaudited)

June 30,

2019

$

December 31, 2018

$

Cash and cash equivalents

4,420,834

2,732,437

Working capital

16,372,602

16,921,864

Total assets

35,642,905

40,445,904

Non-current financial liabilities

2,669,504

2,404,022

Business Overview

Corporate Update

Grande West has delivered over 400 buses in the Canadian and U.S. markets and continues to deliver on its backlog of orders. The Company is the market leader in the mid-size bus category in Canada where it sells its Vicinity branded buses.

William Trainer, Grande West President and CEO, stated, “as previously announced, our main focus for 2019 and 2020 is on product line expansion and growing our backlog. We expect to achieve these goals through leveraging our strong engineering team and increased sales and marketing efforts in the U.S. The results for 2019 reflect the overall temporary softening of the market being realized in Canada for our industry. We continue to lead the market in Canada for new orders in our category and our pipeline for new potential sales in the U.S. has never been stronger. We have recently partnered with Spartan Specialty Chassis and Vehicles, a business unit of Spartan Motors Inc. (“Spartan”) to increase capacity and strengthen our manufacturing capabilities in the U.S. to facilitate the next stage of significant growth. After two consecutive years of record growth and significant achievements in many areas of our business, the outlook for Grande West growth remains very positive.”

We are fast tracking both our smaller crossover bus model and our electric propulsion system for our Vicinity buses. We will produce our first crossover bus, the Vicinity LT, before year end with delivered sales expected in 2020. Our first delivery of an electric bus is also planned for 2020.

Recent Developments

During the three months ended June 30, 2019, the Company delivered 19 buses to Quebec public transit customers. This is an important achievement for Grande West as Quebec is the second largest market in Canada with great potential for future orders.

In May of 2019, the Company announced it had entered into a vehicle assembly agreement with Spartan Specialty Chassis and Vehicles, a business unit of Spartan Motors Inc. (NASDAQ: SPAR), the North American Leader in specialty vehicle manufacturing and assembly for the commercial and retail vehicle industries, as well as for the emergency response and recreational vehicle markets.

Under the terms of the agreement, Spartan will manufacture Grande West’s Vicinity model buses, which will continue to satisfy the Federal Transit Administration’s (FTA) Buy America requirements and reduce potential tariff exposures. The Grande West Vicinity bus achieved best-in-class results from the FTA Model Bus Testing Program in Altoona, Pennsylvania, which measures structural durability and integrity, reliability, performance, maintainability, safety, noise, and fuel economy.

In August of 2019, the Company announced that William Trainer will assume the role, duties and responsibilities of CEO. Mr. Trainer founded the Company in 2008 and held the role of President and CEO through the development and initial high growth stages of the Company. Mr. Trainer had stepped down from the CEO position in February 2018 for personal reasons. Mr. Trainer replaces Jean-Marc Landry, who has worked with Grande West since 2013 as Vice President, Business Development before becoming CEO. The Company thanks Mr. Landry for his efforts over the past years and wishes him success in his future endeavours.

Outlook

Management expects to maintain its strong market segment leadership position in Canada and continue to make progress in the U.S. with private operators and public transit agencies. The external pressures to “right size” vehicles for its application and ridership levels along with the availability of funding and healthy economic conditions in Canada and the U.S. create an ideal environment for Grande West to prosper. Market conditions are right and the outlook for Grande West growth in the U.S. remains very positive.

In the last two years the Company achieved record revenues. We experienced a decline in the backlog during 2018 mainly due to lower order intake, which has impacted 2019 results. Bid activity during the first half of 2019 has been higher than the same period in 2018. We expect to see bid opportunities continue to increase throughout the year which should turn into revenue in 2020 and beyond. We are maintaining our strong leadership position in our market segment in Canada and we continue to make progress in the U.S. market. We received our first Buy America orders for delivery in 2019. Buy America orders are expected to increase during the last half of 2019 for deliveries in 2020.

Funding for transit in the U.S. and Canada is high and it is expected to remain high.

In the U.S. the Consolidated Appropriations Act was recently passed and continues historic funding levels with more than $16 billion for public transportation and intercity passenger rail. This legislation includes $13.4 billion for public transportation and $2.6 billion for intercity passenger rail grants and is $1.2 billion more than the previous FY 2019 FAST Act authorization levels.

In Canada in 2017, the federal government allocated $21.1 billion over 11 years to transit construction, expansion and rehabilitation.

Part of our strategic plan is to expand our product line by adding a 100% zero emission electric propulsion system to our existing Vicinity bus models and adding a smaller crossover bus model to our product lineup. The Vicinity electric bus will place Grande West in an excellent position to capture market share as the demand for zero emissions buses grows. Our crossover bus model will provide Grande West access to the high-end cutaway bus market segment. Municipalities of all sizes across Canada and the U.S. along with private operators in multiple sectors are looking for a more robust low floor accessible bus to replace their cutaways.

Aftermarket Parts sales are expected to continue to increase as Vicinity bus fleets get older and new vehicles are placed into service.

Tariffs and Surtaxes

Management continues to closely monitor negotiations and ongoing global trade discussions which may influence the Company. We are implementing purchasing, shipping and assembly modifications to best adapt to the current trade environment and by strengthening our U.S.-based operations and component sourcing.

Management currently expects an immaterial impact for 2019 for any market increases for our current deliverables. Any future component cost increases should be substantially recoverable through new RFPs or through producer price index (PPI) mechanisms in multiyear contracts.

Reconciliation of Net Earnings to Adjusted EBITDA

Management believes that Adjusted EBITDA is an important measure in evaluating the historical operating performance of the Company. However, Adjusted EBITDA is not a recognized earnings measure under IFRS and does not have a standardized meaning prescribed by IFRS. Accordingly, Adjusted EBITDA may not be comparable to similar measures presented by other issuers. Readers of this MD&A are cautioned that Adjusted EBITDA should not be construed as an alternative to net earnings or loss determined in accordance with IFRS as indicators of the Company’s performance, or cash flows from operating activities determined in accordance with IFRS as a measure of liquidity and cash flow. The Company defines and has computed EBITDA as earnings before interest, income taxes, depreciation and amortization, foreign exchange gains or losses, non-operating income and expenses, and share based compensation.

The following table reconciles net earnings or losses to Adjusted EBITDA based on the consolidated financial statements of the Company for the periods indicated.

3 months ended June 30, 2019

3 months ended June 30, 2018

6 months ended June 30, 2019

6 months ended June 30, 2018

(unaudited)

$

$

Net Comprehensive loss

(434,507
)

1,991,450

(1,114,907
)

2,411,659

Add back

Stock based compensation

224,900

371,541

446,150

677,277

Interest and finance costs

217,791

356,935

393,822

671,826

Foreign exchange (gain) loss

86,108

3,440

(34,455
)

571,643

Amortization

253,176

155,728

505,351

249,841

Adjusted EBITDA

347,468

2,879,094

195,961

4,582,246

Additional information is provided in the Financial Statements and Management’s Discussion and Analysis at http://sedar.com/.

A conference call for analysts and interested listeners will be held on Thursday, August 29 at 11:00 AM EST. The call-in number is (844) 602-0380 or (862) 298-0970, the webcast can be accessed at https://www.investornetwork.com/event/presentation/53361. A replay of the call will be available for 30 days at the webcast link or by calling (877) 481-4010 and entering PIN# 53361.

About Grande West Transportation Group

Grande West is a Canadian company that designs, engineers and manufactures mid-size multi-purpose transit vehicles for public and commercial enterprises. Grande West’s Best-in-Class heavy-duty Vicinity bus is available in 27.5’, 30’ and 35’ models powered by clean diesel or CNG designed with affordability, accessibility and global responsibility in mind. It costs significantly less than a regular 40 foot transit bus, is more maneuverable, burns less fuel and emits less harmful emissions. Grande West is now offering a new product which is the first Crossover Vehicle in the transit space – a medium-duty, monocoque-designed rear engine vehicle for delivery in 2020.

The Company has been successful in supplying Canadian municipal transportation agencies and private operators with new buses and is receiving follow-on orders in many Canadian transit agencies. Grande West is compliant to Buy America certification, and along with ABG, its exclusive US distributor, is actively pursuing opportunities in public and private transit fleet operations that would benefit from Grande West’s vehicles.

For further information please contact:

Grande West Transportation

John LaGourgue
VP Corporate Development
Ph: 1-604-607-4000
jlagourgue@grandewest.com
www.grandewest.com

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

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein, including without limitation, statements regarding the use of proceeds from the Private Placement, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.

Important factors that could cause actual results to differ materially from Grande West’s expectations include uncertainties relating to the receipt of final approval from the TSX-V; and other risk and uncertainties disclosed in Grande West’s reports and documents filed with applicable securities regulatory authorities from time to time. Grande West’s forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. Grande West assumes no obligation to update the forward-looking statements or beliefs, opinions, projections, or other factors, should they change, except as required by law.

SOURCE: Grande West Transportation Group Inc.

ReleaseID: 557793

LAKEWOOD, CO / ACCESSWIRE / August 28, 2019 / General Moly, Inc. (the “Company”) (NYSE American:GMO) (TSX:GMO), the only western-exchange listed, pure-play molybdenum mineral development company, announced today that it has engaged King & Spalding, widely recognized as one of the world’s leading law firms in international arbitration and litigation, to represent the Company in its dispute against Amer International Group Co., Ltd. (“Amer”) for Amer’s default under the amended Investment Securities Purchase Agreement (“Agreement”). (See News Release dated July 31, 2019.)

In connection with Amer’s default, the Company formally notified Amer that a Dispute exists between the parties as a result of Amer’s failure to purchase 20,000,000 shares of General Moly common stock for a purchase price of $10,000,000. On July 29, 2019, the Company provided formal notice to Amer that the conditions to closing of Tranche 3 under the Agreement had been satisfied, and that Amer would have two business days (until the close of business on Tuesday, July 30, 2019) to fund and close Tranche 3. Amer failed to fund and close Tranche 3.

The notification requires that one representative of each of the executive management of the parties be designated and authorized to attempt to settle the Dispute and the representatives are to meet in good faith to resolve the Dispute. If the designated representatives do not resolve the dispute within 10 business days after delivery of the Notice, the Dispute will be subject to resolution by binding arbitration, pursuant to the Agreement. Any arbitration is to be held in Hong Kong under the rules of the International Chamber of Commerce.

Bruce D. Hansen, Chief Executive Officer of General Moly, said, “We are very pleased to work with the attorneys at King & Spalding on this legal recourse. While we look forward to an opportunity to attempt to resolve the Dispute with Amer, we are mindful that the Dispute may need to be resolved in an arbitration. While we are confident in our position should the dispute move to arbitration, any award will likely not be available in the immediate future, if at all. We continue to seek immediate sources of liquidity, including evaluating potential strategic alternatives, working with the Company’s financial advisors XMS Capital Partners, Headwall Partners, and Odinbrook Global Advisors.”

About General Moly

General Moly is a U.S.-based, molybdenum mineral exploration and development company listed on the NYSE American, recently known as the NYSE MKT and former American Stock Exchange, and the Toronto Stock Exchange under the symbol GMO. The Company’s primary asset, an 80% interest in the Mt. Hope Project located in central Nevada, is considered one of the world’s largest and highest grade molybdenum deposits. Combined with the Company’s wholly-owned Liberty Project, a molybdenum and copper property also located in central Nevada, General Moly’s goal is to become the largest primary molybdenum producer in the world.

Molybdenum is a metallic element used primarily as an alloy agent in steel manufacturing. When added to steel, molybdenum enhances steel strength, resistance to corrosion and extreme temperature performance. In the chemical and petrochemical industries, molybdenum is used in catalysts, especially for cleaner burning fuels by removing sulfur from liquid fuels, and in corrosion inhibitors, high performance lubricants and polymers.

CONTACT:

Scott Roswell
(303) 928-8591
info@generalmoly.com
Website: www.generalmoly.com

SOURCE: General Moly, Inc.

ReleaseID: 557791

VANCOUVER, BC / ACCESSWIRE / August 28, 2019 / Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSXV:SGN) announces its financial results for the six months ended June 30, 2019.

During the six months ended June 30, 2019, Scorpio Gold raised gross proceeds of $7.0 million from the issuance of secured subordinated convertible debentures by way of a private placement which allowed the Company to eliminate its $6 million senior secured debt with Waterton Global Resources Management in exchange for an upfront payment of $3 million in cash, and resulted in increasing the Company’s ownership of the Mineral Ridge Gold Mine from 70% to 100%.

The Company is now focusing its efforts on re-engaging with lenders who had previously expressed interest in funding the proposed new processing facility at the Mineral Ridge project. This new facility will allow the Company to capture the value in the gold reserves contained in the heap leach pad and unmined portions of the mine. The Company sees potential to increase those resources by further exploration within and outside the area of operations. The Scorpio Gold operating team at Mineral Ridge has proved its excellence over the past eight years and once financed, will build and operate the new processing facility with an expected mine life of at least seven years.

On June 6, 2019, the Company announced the commencement of drilling at its 100% owned Goldwedge property located in Manhattan Nevada. The drilling program will focus on the Keystone-Jumbo claim block. The program calls for drilling of up to 29 exploration holes with the intention of building on historic drilling and previously reported surface sampling results (December 15, 2016 news release) within the Keystone-Jumbo claim block.

On June 24, 2019 the Company announced the receipt and approval of its Water Pollution Control Permit (WPCP), issued by the State of Nevada, that will allow Scorpio Gold to advance its exploration activities at Mineral Ridge.

Management expects to generate limited revenues from Mineral Ridge until approximately Q4 of 2019 from residual but diminishing gold recoveries from the leach pads and will use cash flow from the operation of the Mineral Ridge along with current cash on hand to fund the Company’s operations until further financing is raised.

This press release should be read in conjunction with the Company’s condensed interim consolidated financial statements for the six months ended June 30, 2019 and Management’s Discussion Analysis (“MD&A”) for the same period, available on the Company’s website at www.scorpiogold.com and under the Company’s SEDAR profile at www.sedar.com. All monetary amounts are expressed in US dollars unless otherwise specified. On April 15, 2019, the Company completed a 2 for 1 consolidation of its outstanding common shares. All share and per share amounts are shown on a post-consolidated basis retroactively throughout this news release.

OPERATION HIGHLIGHTS FOR THE SIX MONTHS ENDED JUNE 30, 2019 AND 2018

1,999 ounces of gold and 1,282 ounces of silver were produced at the Mineral Ridge mine, compared to 4,560 ounces of gold and 2,211 ounces of silver produced during 2018.

Revenue of $2.5 million, compared to $5.5 million during 2018.

Total cash cost per ounce of gold sold (1) of $1,324, compared to $849 during 2018.

Mine operating loss of $0.2 million, compared to earnings of $2.0 million during 2018.

Net earnings of $2.6 million ($0.04 basic and diluted per share), compared to earnings of $0.4 million ($0.01 basic and diluted per share) during 2018.

Adjusted net earnings (1) of $0.04 million ($0.00 basic and diluted per share), compared to earnings of $0.7 million ($0.01 basic and diluted per share) during 2018.

Adjusted EBITDA (1) of $0.4 million ($0.00 basic and diluted per share) compared to $1.2 million ($0.02 basic and diluted per share) million during 2018.

(1) This is a non-IFRS measure; please see Non-IFRS performance measures section.

About Scorpio Gold Corporation

Scorpio Gold holds a 100% interest in the Mineral Ridge gold mining operation located in Esmeralda County, Nevada. Mineral Ridge is a conventional open pit mining and heap leach operation. Mining at Mineral Ridge was suspended in November 2017; however, the Company continues to generate limited revenues from residual but diminishing recoveries from the leach pads. Scorpio Gold also holds a 100% interest in the advanced exploration-stage Goldwedge property in Manhattan, Nevada with a fully permitted underground mine and 400 ton per day mill facility. The Goldwedge mill facility has been placed on a care and maintenance basis and can be restarted immediately when needed.

Scorpio Gold’s Chairman, Peter J. Hawley, P.Geo., is a Qualified Person as defined in National Instrument 43-101 and has reviewed and approved the content of this release.

ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION

Brian Lock
Interim CEO

For further information contact:

Brian Lock, Interim CEO
Tel: (604) 889-2543
Email: block@scorpiogold.com

Chris Zerga, President
Tel: (604) 536-2711
Email: czerga@scorpiogold.com

Website: www.scorpiogold.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.

The Company relies on litigation protection for forward-looking statements. This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements regarding the Company’s plans with respect to the exploration of its Goldwedge project. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including risks involved in mineral exploration programs and those risk factors outlined in the Company’s Management Discussion and Analysis as filed on SEDAR. 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. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty thereof.

SOURCE: Scorpio Gold Corporation

ReleaseID: 557741

LOS ANGELES, CA / ACCESSWIRE / August 28, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Dropbox, Inc. (“Dropbox” or “the Company”) (NASDAQ:DBX) for false and misleading SEC filings.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.
310-301-3335
Cell: 424-303-1964
info@schallfirm.com
www.schallfirm.com

SOURCE: The Schall Law Firm

ReleaseID: 557787

Acquisition of Common Shares of Winston Gold Corp.

WINNIPEG, MANITOBA / ACCESSWIRE / August 28, 2019 / Joseph Carrabba (the “Acquiror”) has acquired (the “Acquisition”), through a private placement ownership and control of 2,700,000 units (the “Units”) of Winston Gold Corp. (CSE:WGC)(OTCQB:WGMCF) (the “Issuer”) at a price equal to $0.05 per Unit for an aggregate purchase price of $135,000. Each Unit is comprised of one common share (the “Common Share”) of the Issuer and one common share purchase warrant (the “Warrants”) of the Issuer. Each Warrant will entitle the holder to purchase one Common Share for a period of five years after the date of issuance of the Warrant, at a price equal to $0.10 per Common Share.

Prior to the Acquisition, the Acquiror had ownership and control of 22,042,817 Common Shares, 17,250,000 Warrants and 1,000,000 options of the Issuer (the “Options”) representing approximately 17.5% of the issued and outstanding Common Shares on a undiluted basis and assuming the exercise of Warrants and Options, approximately 28.0% of the issued and outstanding Common Shares on a partially-diluted basis.

Following the Acquisition, the Acquiror has ownership and control of 24,742,817 Common Shares, 19,950,000 Warrants and 1,000,000 Options representing approximately 15.6% of the issued and outstanding Common Shares on a undiluted basis and assuming the exercise of Warrants and Options, approximately 25.4% of the issued and outstanding Common Shares on a partially-diluted basis.

The Units were acquired for investment purposes. In pursuing such purposes, the Acquiror takes a long-term view of its investment. It reserves the right to formulate other plans or make other proposals, and take such actions with respect to its investment in the Issuer. Depending on market conditions and other factors, the Acquiror may acquire additional securities of the Issuer as the Acquiror may deem appropriate, whether in open market purchases, privately negotiated transactions or otherwise. The Acquiror may dispose of some or all of such securities. The Acquiror may also reconsider and change its plans or proposals relating to the foregoing.

“Joseph Carrabba”
JOSEPH CARRABBA

Key Largo, Florida

SOURCE: Winston Gold Corp.

ReleaseID: 557768

SAN DIEGO, CA / ACCESSWIRE / August 28, 2019 / ​​​​​​Zensun USA, Inc., a wholly-owned subsidiary of Zensun Sci & Tech Co. Ltd., Shanghai, announced that the investigation of NEUCARDIN®, its Recombinant human neuregulin-1 fragment, has received Fast Track designation from the U.S. Food and Drug Administration (FDA) for the potential treatment of Chronic Heart Failure (CHF). NEUCARDIN®, the lead drug candidate from the company’s cardiac therapy program, was also recently granted “priority review” for its conditional approval application in China by the National Medical Products Administration (NMPA) (formerly the CFDA).

Under the U.S. FDA Modernization Act of 1997, the Fast Track process was designed to facilitate the development and expedite the review of drug candidates intended to treat serious or life-threatening conditions and that demonstrate the potential to address unmet medical needs. A potential drug that receives Fast Track designation is eligible for Accelerated Approval, which provides for a potential approval by the FDA on the basis of a demonstrated effect on a surrogate endpoint deemed reasonably likely to predict clinical benefit, and Rolling Review, which facilitates the submission of individual sections of a New Drug Application (NDA) as they are completed for review by the FDA. Moreover, Fast Track designation for a potential drug may allow more frequent meetings between the sponsor and FDA to discuss the proposed development plan and ensure collection of appropriate data needed to support approval, as well as possibly more frequent written correspondence from FDA about such matters as the suitability of designs for proposed clinical trials. Many drugs that are eligible for Fast Track designation are also considered appropriate to receive Priority Review, an additional designation that may reduce the time required for FDA review.

“We are extremely pleased that the U.S. FDA has granted Fast Track designation to NEUCARDIN® for the possible treatment of chronic heart failure, recognizing that our first-in-class biologic drug candidate may address significant unmet medical needs in patients diagnosed with mild- to moderate-heart failure,” said Mingdong Zhou, Ph.D., Chief Executive Officer of Zensun Sci & Tech Co. Ltd. “The Fast Track designation may improve both the speed and quality of our development program for NEUCARDIN® as it facilitates our interactions with the U.S. FDA towards further evaluating the safety and efficacy of NEUCARDIN® in patients facing worsening heart failure.”

Background on Chronic Heart Failure and NEUCARDIN®

Heart failure is a highly prevalent disease that afflicts roughly 26 million people worldwide. Over 1 million new cases of heart failure are diagnosed each year in the U.S. and involve approximately $31 billion dollars spent in the U.S. on heart failure-related care annually. Heart failure is a disease of aging populations, and besides the U.S., areas including Europe and Asia are in crisis mode as the population is aging and the prevalence of heart failure is growing rapidly. Moreover, due to the shrinking number of drugs being developed for heart failure by sponsors, novel therapeutics in this disease area are dwindling and in dire need.

NEUCARDIN® is a recombinant human neuregulin-1 (rhNRG-1) fragment peptide of the neuregulin-1 beta 2 alpha isoform (rhNRG-1β2α), which is being developed as a parenteral (intravenous [IV] or subcutaneous [SC]) agent for the treatment of chronic heart failure (HF) with reduced ejection fraction (HFrEF). Recombinant hNRG-1β2α has been shown in animal models to activate the ErbB2/ErbB4 receptor tyrosine kinases expressed in cardiac myocytes to modulate gene and protein expression, promote sarcomere structural re-organization, increase cardiac contractility/relaxation and promote reverse ventricular remodeling in animal models of HF. To date, there are no approved chronic HF therapies that work directly through ErbB2/ErbB4 receptor tyrosine kinases in cardiac myocytes; therefore, NEUCARDIN® is a new molecular entity and novel “first-in-class” agent to treat a serious condition with unmet medical needs.

Zensun has met with the U.S. Food and Drug Administration’s Division of Cardiovascular and Renal Products during the U.S. End-of-Phase-2 meeting to discuss its progress in the development of NEUCARDIN® as a potential treatment for patients with CHF (HFrEF) and the company’s plans for its further development. In addition to a previous Phase-2 multicenter randomized placebo-controlled clinical trial in the U.S., Zensun Sci & Tech Co. is conducting an ongoing Phase-3 pivotal trial of NEUCARDIN® in China, and preparing for a U.S./multi-national Phase-3 trial; these studies are intended to support potential registration programs with the NMPA and U.S. FDA.

About Zensun Sci & Tech. Co. Ltd.

Zensun is a clinical-stage biopharmaceutical company with sites in China (Shanghai) and the USA (San Diego, CA) and focused on the discovery and development of novel therapeutics that modulate diseased organ function for the potential treatment of serious diseases and medical conditions. Zensun’s lead drug candidate, NEUCARDIN®, is a potential “First-in-Class” drug with mechanism of regulation of cardiac myosin light chain kinase (cMLCK) activity, as a prospective treatment for diseases and conditions associated with aging, cardiac function, or ischemia.

Additional information about Zensun can be obtained at www.zensunus.com (English) or www.zensun.com (Chinese).

This press release contains statements that reflect the company’s current beliefs and expectations about the future as of the respective dates indicated herein. The forward-looking statements herein are based on the company’s beliefs and expectations about the future and a number of assumptions about the company’s operations and the markets for the company’s products. The forward-looking statements are subject to a number of known and unknown factors, including factors beyond the company’s control, and are subject to significant risks and uncertainties which may cause the company’s actual results or performance to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are not a guarantee of future performance. Accordingly, you should not place undue reliance on such forward-looking statements or any forward-looking information. As noted above, the company and its directors, officers, employees, affiliates, advisers and representatives have no obligation and do not undertake to update or otherwise revise such opinions or forward-looking statements to reflect new information, events or circumstances that occur after the date of the document.

NEUCARDIN is a trademark of Zensun Sci. & Tech. Co. Ltd.

Media Contact:
Daniel Rines, Ph.D.
VP of Business Development
daniel.rines@zensunusa.com

SOURCE: Zensun USA, Inc.

ReleaseID: 557783

WINNIPEG, MANITOBA / ACCESSWIRE / August 28, 2019 / Winston Gold Corp. (“Winston Gold” or the “Corporation”) (CSE:WGC) (OTCQB:WGMCF) announces the closing of a non-brokered private placement (the “Private Placement”) consisting of 33,055,000 units (the “Units” ) at a purchase price of $0.05 per Unit to raise gross proceeds of $1,652,750.

Each Unit consists of one common share (a “Share” ) in the share capital of the Corporation and one share purchase warrant (a “Warrant” ). Each full Warrant will entitle the holder to purchase one additional Share in the share capital of the Corporation for a period of 5 years, at an exercise price of $0.10 per Share.

All securities issued in connection with the Private Placement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. A finder’s fee of $27,460 was paid and 549,200 finder’s warrants issued in connection with the Private Placement. Each finder’s warrant entitles the holder to purchase one additional Share in the share capital of the Corporation for a period of two years, at an exercise price of $0.10 per Share.

Insiders of the Corporation subscribed for an aggregate of 4,100,000 Units for gross proceeds of $205,000 under the Private Placement (the “Insider Subscriptions”). The Insider Subscriptions constitute “related party transactions” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). The Corporation has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101 in respect of the Insider Subscriptions.

The net proceeds from the Private Placement will be used for general corporate purposes and to advance the Winston gold project near Helena Montana.

In addition, the board of directors of the Corporation has granted a total 800,000 incentive stock options to certain consultants of the Corporation to purchase a total of 800,000 common shares at an exercise price of $0.07. The options expire on August 28, 2024.

About Winston Gold

Winston Gold is a junior mining company focused on advancing high-grade, low cost mining opportunities into production. Towards that end, the Corporation has acquired an underexplored and under-exploited gold/silver mining opportunity, being the Winston Gold project near Helena, Montana.

ON BEHALF OF THE BOARD OF DIRECTORS OF THE CORPORATION

For further information, please contact

Murray Nye, Chief Executive Officer
Suite 201-919 Notre Dame Avenue, Winnipeg, Manitoba, R3E 0M8 Canada
Telephone: (204) 989-2434 E-mail: murray@winstongold.com

The CSE has neither approved nor disapproved the information contained herein.

SOURCE: Winston Gold Corp.

ReleaseID: 557765

ARNPRIOR, ON / ACCESSWIRE / August 28, 2019 / Plaintree Systems Inc. (CSE:NPT) (“Plaintree” or the “Company”).

Quarterly Statements for the First Three Months of Fiscal 2020 ending June 30, 2019

Plaintree announced today that it has released its unaudited interim consolidated financial statements and related management discussions and analysis for the three months ended June 30, 2019.

During the first three months of fiscal 2020, Plaintree realized revenues of $3,491,694, a modest increase over first quarter of fiscal 2019 revenues of $3,394,751, after the removal of revenues in each period of the assets held for sale. Plaintree ended the quarter with net losses of $(289,013) compared to earnings of $120,619 during first quarter of fiscal 2019.

“Across the board, every Plaintree division/subsidiary was very busy” said David Watson CEO “ however a lot of our projects were front loaded as far as costs and workload which put downward pressure on profitability for the quarter.”

About Plaintree

Plaintree has two diversified product lines consisting of Specialty Structures and Electronics.

The Specialty Structures Division includes the former Triodetic Group with over 40 years of experience, is a design/build manufacturer of steel, aluminum and stainless steel specialty structures such as commercial domes, foundations for unstable soil conditions and flood zones, for free form structures, barrel vaults, space frames and industrial dome coverings and Spotton Corporation, a design and manufacturer of high end custom hydraulic and pneumatic valves and cylinders.

The Electronics Division includes the legacy Hypernetics and Summit Aerospace USA Inc. businesses. Hypernetics was established in 1972 and is a manufacturer of avionic components for various applications including aircraft antiskid braking, aircraft instrument indicators, solenoids, high purity valves and permanent magnet alternators. Summit Aerospace USA Inc. provides high precision machining to the aerospace and defense markets. Our facility includes 5 axis CNC precision machining of complex castings and large ring parts such as turbine and assembly shrouds as well as assembly & pressure seals. Summit will support requirements from concept, prototype and throughout production.

Plaintree’s shares are traded under the symbol “NPT”. Shareholders and Investors can access Company information on CSE’s website and receive full Company disclosure monthly. For more information on Plaintree or to receive stock quotes, complete with trading summaries, bid size and ask price, brokerage house participation, insider reports, news releases, disclosure information, and CSE and SEDAR filings, visit the CSE website at www.cnsx.ca or the Company’s website at www.plaintree.com.

Plaintree is publicly traded in Canada on the CSE (NPT) with 12,925,253 common shares and 18,325 class A preferred shares outstanding.

This press release may include statements that are forward-looking and based on current expectations. The actual results of the company may differ materially from current expectations. The business of the company is subject to many risks and uncertainties, including changes in markets for the company’s products, delays in product development and introduction to manufacturing and intense competition. For a more detailed discussion of the risks and uncertainties related to the company’s business, please refer to documents filed by the company with the Canadian regulatory authorities, including the annual report of the Company for the fiscal year ended March 31, 2019 and related management discussion and analysis.

Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

For further information: Lynn Saunders, CFO (613) 623-3434 x2223

SOURCE: Plaintree Systems Inc.

ReleaseID: 557782

TORONTO, CANADA / ACCESSWIRE / August 28, 2019 / As fires rage in the largest Rainforest in the world, global concern is mounting over the lack of preventative measures that could have been taken to avoid large-scale fires in the world’s most vital carbon store. The Amazonian Rainforest produces 20% of the world’s oxygen and is also home to approximately three million species of plants and animals and one million indigenous people.

EcoForests CEO Michael Ackerman has called on government officials to “learn from privately owned plantations where risk levels for fires are minimal.” With consistent pruning, cleaning, and organic fertilization to eliminate weeds that typically start forest fires, the risk is substantially lowered for fires to start and spread on a widespread basis.

Applying Lessons from the Private Sector to National Forests

A Hancock Timber Resource group study found that with $300 Billion invested in managed forests across the globe, less than .05% is affected by forest fire or flood. According to Ackerman, “Forestry investment plantations receive considerable checks-and-balances that care-taking and management of plantations is optimal. There is a need for additional resources and political willingness to improve the management of state-owned forestlands. With the technology and safety measures available today, the Amazon forest crisis should not be happening.”

An example of positive resource allocation and political willingness to protect its forestland is Honduras, which has recently made great strides to protect federal plantations. In 2013, Honduras became the first country in Latin America to initiate negotiations for a Voluntary Partnership Agreement (VPA) under the European Union’s Forest Law Enforcement, Governance and Trade (FLEGT) Action Plan to create systems that improve forest management and incentivize responsible operations. Similarly, Costa Rica, which lost about two-thirds of its Rainforest from 1950-1987 due to deforestation and government inaction, has doubled its forest cover in the last 30 years, after introducing stricter federal management policies.

Upcoming EcoForests Projects

As part of its Impact Investing mandate and commitment to sustainable forestry practices, EcoForests is excited to introduce several upcoming agricultural-forestry (“agroforestry”) projects in South America, with a focus on Ecuador and Colombia, two nations with strong forestry protection laws. These projects will each centre around the harvesting of cacao beans and continue EcoForests’ sustainable operating principles into the agroforestry sector.

About EcoForests

EcoForests is a boutique forestry investment management company that manages high-end tropical timber species on behalf of their global private and institutional investors, maximizing returns through a commitment to quality, technique, sustainability and security. Headquartered in Toronto, EcoForests has forestry operations in Central and South America with regional offices in Hong Kong, USA, Israel and UK.

ECOFORESTS OPINION: Michael Ackerman, CEO of EcoForests Asset Management (“EcoForests”) released statement supporting global outcry on inaction of current Brazilian government to prevent Amazonian forest fires, provides insight into lessons to be learned from private sector to avoid future fires.

For media inquiries, please contact:
Rachel Naiman
R.Naiman@ecoforests.ca

For investor inquiries, please contact:
Matthew Edwards
M.Edwards@ecoforests.ca

SOURCE: Ecoforests Asset Management

ReleaseID: 557780

NEW YORK, NY / ACCESSWIRE / August 28, 2019 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

3M Company (NYSE:MMM)

Investors Affected : February 9, 2017 – May 28, 2019

A class action has commenced on behalf of certain shareholders in 3M Company. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) 3M had vast internal evidence dating back decades confirming that polyfluoroalkyl substances (“PFAS”) are toxic (which was first publicly revealed in February 2018 by Minnesota’s Attorney General); (ii) 3M had a decades-long history of suppressing negative information and/or damaging data about PFAS; and (iii) 3M has legal exposure to state, county, and local governments and individuals around the country as a result of its knowledge and intentional concealment of the toxic harm caused by the use of PFAS.

Shareholders may find more information at https://securitiesclasslaw.com/securities/3m-company-loss-submission-form/?id=3235&from=1

Mallinckrodt Public Limited Company (NYSE:MNK)

Investors Affected : February 28, 2018 – July 16, 2019

A class action has commenced on behalf of certain shareholders in Mallinckrodt Public Limited Company. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Acthar posed significant safety concerns that rendered it a non-viable treatment for ALS; (ii) accordingly, Mallinckrodt overstated the viability of Acthar as an ALS treatment; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/mallinckrodt-public-limited-company-loss-submission-form/?id=3235&from=1

Curaleaf Holdings, Inc. (OTCMKTS:CURLF)

Investors Affected : November 21, 2018 – July 22, 2019

A class action has commenced on behalf of certain shareholders in Curaleaf Holdings, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Curaleaf, on its website and social media pages, marketed its CBD products to be used as drugs and dietary supplements, contrary to law; (2) Curaleaf also sold unapproved animal drugs on its website; (3) such conduct would result in a warning letter from the U.S. Food and Drug Administration; and (4) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/curaleaf-holdings-inc-loss-submission-form/?id=3235&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company’s stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm

ReleaseID: 557776