ATLANTA, GA / ACCESSWIRE / August 12, 2020 /  While the COVID-19 pandemic continues to challenge everyday life in unpredictable ways, it has especially disrupted retail shopping and changed the retail industry as we know it, indefinitely. Experts say that the pandemic has massively accelerated the growth of e-commerce 4-6 times, surging past 2019 holiday season levels. As most consumers are opting for online shopping versus brick-and-mortar, it's creating a new normal for retailers as the those that have always existed online thrive, and the retail giants struggle to keep up.

"We will see thousands of retailers continue to close their in-person stores in 2020, with some even filing for bankruptcy. Men's Wearhouse, Lord & Taylor, GNC, Microsoft and Nordstrom are just the tip of the iceberg. Without foot traffic, brick-and-mortar stores simply cannot drive the dollars necessary to rationalize staying open," said Deepak Agarwal, C-Suite executive and former CEO of NoMoreRack.com, a multicategory online retailer.

Web-Only Retailers Will Reign

While the majority of shopping is now e-commerce-based, only 11% of retail shopping was e-commerce just last year, according to eMarketer. With fundamental shifts in consumer behavior, web-only retailers are surpassing their competitors. These digital-first companies are able to scale as needed and are not affected by a diminishing or lack of foot traffic. Their digital and web presence often put the user experience first, as they see mobile shopping as a growing force. Brands who fail to give consumers a great mobile experience will get left behind. This includes your mobile storefront, in-app purchases, and mobile payment capabilities.

Consumer Expectations Continue to Soar

Consumers have access to more information and data than ever before. Gone are the days of clunky websites, or multiple clicks to purchase. Today's consumers not only expect higher quality, but faster service, and of course, free shipping. According to eMarketer, Google searches for "curbside" rose exponentially since the start of the pandemic.

"Today, retailers are not only forced to pivot to e-commerce but also to give consumers the ability to order ahead, pay in-app, and pick up orders from the convenience of their car," said Agarwal. "These service elements will be key to winning the upcoming holiday season."

Direct to Consumer as the Future

Retailers are also unexpectedly experiencing business model shifts as direct-to-consumer purchases rise. Brands like M.A.C. Cosmetics, who previously sold direct-to-consumer and via retailers (i.e. department stores), shifted their multi-sensory in-store experience into a digital brand experience in order to weather the COVID-19 storm. These brand experiences include virtual makeup try-ons, emulating the ability to try on different shades of types of makeup, all from the comfort of your home. Similarly, M.A.C, which is known for its professional make-up artists and previously offered in-store makeup services, digitized their makeup artist service. Today, customers are able to live chat with the over 20,000 M.A.C. makeup artists or even have one-on-one consultations.

As retailers begin planning for the 2020 holiday shopping season, consumers are optimistic about the turning tides and economic shifts expected. Regardless of what the post-COVID-19 world looks like, however, retailers who are able to adapt and shift are the ones who will be ready for consumers in the new normal of shopping.

"Today's more virtual economy requires retailers to shift as fast as possible. For those who are slow to do so, they will likely not have a very jolly holiday season," stated Agarwal.

Contact: Isys Caffey-Horne
Phone: 404-955-7133
Email: isys.caffeyhorne@stripereputation.com

SOURCE: Deepak Agarwal

ReleaseID: 601385

NEW YORK, NY / ACCESSWIRE / August 12, 2020 / Matthew Nickerson believes his product, VASO6, will ultimately bring about massive health transformations on a global scale.

Most entrepreneurs work toward the singular goal of bringing a business plan into existence in pursuit of wealth, while many others' sole motivation is in service of the greater good. These rare individuals work tirelessly to bring their vision to fruition knowing that the development of their products will positively impact the betterment of humanity. It is what drives them and ultimately sets them apart.

To become an entrepreneur is not that difficult. All you need is an idea. But to become an extraordinary entrepreneur you must hold fast to a global vision fueled by passion and purpose. Matthew Nickerson from the business of sports nutrition has an abundance of both

Matthew had a typical upbringing in a middle class family in America. He came to understand the value of persistence, determination and a relentless work ethic, qualities he attributes to his parents who worked hard to provide for their three children. His mother is a teacher and his father is a safety engineer and a former high school baseball coach.

Sportsmanship and the concept of teamwork came quite naturally to Matthew. His love for both could be seen at an early age. He excelled at everything he pursued including soccer, baseball, basketball, swimming, track and his favorite… football. As a student athlete, Matthew learned to channel his quiet nature and physical strength into sports. Sports allowed him to practice and perfect his competitive skills and leadership abilities, which served him well both on and off the field, and throughout his life.

Matthew became a two year starting quarterback in high school, and early in his senior year he led his team to a thrilling homecoming victory after scoring on a breakaway 74 yard touchdown run. Tragically, his hopes of a winning season came to an abrupt end due to a senseless act of gun violence. Matthew was shot in the chest at point blank range while intervening in an altercation where he placed himself directly in the line of fire to shield his classmate, saving his friend's life and nearly losing his own. Due to the extent of his injuries, he was unable to resume his high school football season, and was forced to finish his senior season on the sidelines. This traumatic event had a profound impact on Matthew, as he began to internalize how fleeting and fragile life can be. As a result he came to believe that one must strive to live a life of purpose, in the service of others, in the time we are given. That belief eventually led him into the vast field of health and wellness where he co-founded and launched his brand "VASO6".

After earning degrees in Sociology and Criminal Justice, Matthew began to dedicate his learning and performance to everything that could bring about positive change in people's lives. After graduation, he entered the field of Medical Device where he learned the work of product development in improving people's quality of life along with doctor and patient training and support, sales and service.

In 2014 Matthew made the decision to leave his career in Medical Device to venture out on his own. Matthew knew that in order to realize the changes he hoped to see across the nutritional life science space he would have to commit to the cause of positive quantifiable change and personally champion the direction of growth as a full time occupation. Matthew's goal in joining the health & wellness industry as an entrepreneur was to support animals and humans in living a healthier more enriched quality of life. Blending his roots as an athlete and his experience in Business to Business (B2B) sales and life science, he launched his all-natural green tea performance extract in hopes of creating health benefits for all. He also focused on proving the theories and hypotheses of his team, who were determined to dedicate their efforts into searching for treatments, advancements, remedies, and hopefully one day, cures!

VASO6 came into existence when Matthew realized that multiple health benefits could be provided by ingesting the extract of green tea supplements known by the trade name VASO6. VASO6 was primarily developed to enhance localized blood flow following a resistance exercise bout. The company focuses on research & development through clinical trials. The company's goal is to get VASO6 formulated into everything for both animal and human consumption as a specialty ingredient. They have already proven the various health benefits through a double blind human performance study versus placebo, which was conducted by the University of Auburn (https://jissn.biomedcentral.com/articles/10.1186/s12970-020-00358-5).

For Matthew, success is ultimately about bringing value to others. With his breakthrough innovation VASO6, he has garnered a reputation among his colleagues, vendors, suppliers, consumers, and Instagram followers as someone who is honest and down to earth. His unique mix of marketing and irreverent humor is blunt, authentic and entertaining. He often makes fun of himself in the process, admitting he loves to make people laugh. He's also established himself as one of the kindest, most approachable people you could ever hope to engage. Matthew makes time for everybody and treats every new encounter as a friend he hasn't met yet. He makes time to send personal responses to his followers because he cares about connecting with people from all around the world in hopes that he can inspire them to be the best version of themselves. In all of his encounters he tries to make someone's day a little brighter. He wants people to feel a genuine connection to him and his brand. Matthew says his customers and followers are a constant source of motivation and inspiration, and that they keep him focused and humble. He works to ensure that he can consistently deliver the quality experience they deserve.

There is already a lot of work in the pipeline for Matthew and VASO6. His labs are currently working on creating innovative and accessible products across all markets, worldwide. Their primary efforts are geared toward bringing a positive global disruption in the existing state of the nutrition industry including beverages, dietary supplements, functional foods, and nutraceuticals. One high priority initiative is to make the Energy drink market safer. "We have a preliminary human pilot study that is very exciting which shows we can potentially make energy drinks healthier. I call it 100% clean energy. We are actively looking to work with a partner on a human clinical study to prove our hypothesis." The focus of each of his projects is to back all innovations with human data along with a definite proof of concept.

In becoming a trusted and reputable brand, this talented entrepreneur strives to live up to his claims while creating a product line for the world to know, understand and find useful. Matthew hopes to support others in the belief in oneself in order to cause each individual to flourish and to live a happier and healthier life.

Before ending this interview Matthew wished to give a special acknowledgement to what he says is one of the most disruptive & essential startup Tech innovations in sports nutrition, Justin Hall, Founder of the @SupplementSnoop app. Be on the lookout for Supplement Snoop.

To visit Matthew C. Nickerson's official Instagram account, click here.

CONTACT:

Paula Henderson
646-736-2071
phendersonnews@gmail.com

About VIP Media Group:

VIP Media Group is a hybrid PR agency. Their diverse client base includes top-class entrepreneurs, public figures, influencers, and celebrities.

SOURCE: VIP Media Group

ReleaseID: 601479

ANGUILLA, BWI / ACCESSWIRE / August 12, 2020 / Kidoz Inc. (TSXV:KIDZ) (the "Company"), kid-tech software developer, owner of the KIDOZ Safe Advertising Network (www.kidoz.net), the KIDOZ Kid-Mode Operating System, the KIDOZ publisher SDK, and the Rooplay edu-games platform (www.rooplay.com), announced today its unaudited financial results for the second quarter ended June 30, 2020. All amounts are presented in United States dollars and are in accordance with United States Generally Accepted Accounting Principles.

Recent Kidoz Inc. highlights include:

Cash of $1,115,332 and working capital of $1,753,820 at June 30, 2020.
Q2 Total Revenue of $736,827 – 75% of Q1 Total Revenue of $983,979 despite COVID-19 advertising postponements
Reduced loss to ($361,399) in Q2 2020, a 10.5% improvement from a loss of ($403,924) in Q1 2020
A 20% improvement in EBITDA loss of ($197,057) in Q2 2020 from an EBITDA loss of ($246,954) in Q1 2020.
Cash provided by operating activities of $144,085 for the six months ended June 30, 2020.
Launch of pre-bid advertising system to increase KIDOZ Safe Advertising Network programmatic growth

"The second quarter of 2020 was executed by the Kidoz team completely working from home during COVID-19 lockdown," stated Eldad Ben Tora, Co-CEO. "As soon as the pandemic hit, we took company-wide cost containment measures to control costs throughout the organization, including salary reductions which enabled Kidoz to improve its financial performance for the quarter despite revenue declines. As we are a lean organization whose success depends on our execution of technical system development, we made the decision to not furlough or dismiss any employees during the quarter which has resulted in high productivity and high team moral. Our technical, sales, operations, and management teams have risen to the challenge of the pandemic and have proven resilience and ingenuity to deliver these results in a challenging climate."

"We experienced a decline in revenue during the quarter as COVID-19 forced retail stores to close, cinematic productions to be postponed, and advertisers to re-consider their marketing strategies in the short-term," said Jason Williams, Co-CEO. "While a decline in active campaigns is always challenging, the Kidoz team were successful in on-boarding many new advertisers, building some powerful new technology, and expanding the reach of its flagship product the Kidoz Safe Advertising Network. Confirmed by Appfigures, a third-party industry source, the Kidoz Software Development Kit (SDK) is installed on 50% more apps and used by 80% more app developers than it's nearest kid-focused competitor. In-Game advertising remains one of the strongest growth categories for digital advertising with industry predictions of a 300% growth over the next four years with the market growing from $13.8 billion USD in 2019 to $35 billion USD in 2024."

"Unlike its competitors, Kidoz is entirely focused on In-Game advertising solutions and is increasingly the preferred choice for game publishers and kids advertisers. Kidoz continues to increase the global reach of its sales teams through partnership strategies and is seeing much improved campaign activity on the network since the beginning of the third quarter. As advertisers return to the market after adjusting their strategies, In-Game ads are seeing an increase in popularity and the Kidoz management team is optimistic about the market, our products, and the chances for future financial success."

Second Quarter Financial Results

Total Current Assets as at June 30, 2020 were $2,408,973, compared to $3,469,904 as at December 31, 2019, and Total Current Liabilities as at June 30, 2020, were $655,153, compared to $1,277,399 as at December 31, 2019.

Total revenue, net of platform fees (to Apple, Google and Amazon) and withholding taxes, for the quarter ended June 30, 2020, decreased to $736,827, a decrease of 10% from revenue of $818,286 for the second quarter of 2019 and a decrease of 25% from revenue of $983,979 for the first quarter of 2020. Ad Tech advertising revenue increased to $611,709 for the quarter ended June 30, 2020, an increase of 6% from ad tech advertising revenue of $579,052 in the second quarter of 2019 and a decrease of 32% from ad tech revenue of $895,555 in the first quarter of fiscal 2020. Content revenue decreased to $125,118, for the quarter ended June 30, 2020, a decrease of 48% from revenue of $239,234 in the second quarter of 2019 and an increase of 41% from content revenue of $88,424 in the first quarter of fiscal 2020. The decrease in total revenue compared to the second quarter of fiscal 2019 and the first quarter of fiscal 2020 is due to COVID-19 where many advertising campaigns were postponed to the third and fourth quarters of fiscal 2020.

Selling and marketing expenses were $77,392 for the quarter ended June 30, 2020, a decrease of 19% over expenses of $95,639 in the second quarter of fiscal 2019 and a decrease of 33% over expenses of $115,707 in the first quarter of fiscal 2020. This decrease in sales and marketing expenses in the quarter ended June 30, 2020, compared to the second quarter of fiscal 2019 and the first quarter of fiscal 2020 is due to reduced sales expenses and the postponement of several marketing campaigns to save funds as a result of COVID-19.

General and administrative expenses consist primarily of premises costs for our offices, legal and professional fees, and other general corporate and office expenses. General and administrative expenses decreased to $106,568 for the quarter ended June 30, 2020, a decrease of 39% from costs of $174,977 for the second quarter of fiscal 2019 and a decrease of 26% from costs of $143,255 in the first quarter of fiscal 2020. The decrease in general and administrative expenses compared to the second quarter of fiscal 2019 and the first quarter of fiscal 2020, is due primarily to COVID-19, where the company reduced legal and administrative expenses.

Salaries, wages, consultants, and benefits decreased to $100,612 for the quarter ended June 30, 2020, a decrease of 30% compared to salaries, wages, consultants, and benefits of $144,284 in the second quarter of 2019 and a decrease of 26% compared to salaries, wages, consultants, and benefits of $136,240 in the first quarter of 2020. This decrease compared to the second quarter of fiscal 2019 and the first quarter of fiscal 2020, is due to the synergies realized from the acquisition of Kidoz Ltd. and a reduction in salaries as a result of COVID-19.

The Company does not capitalize its development costs. The Company expensed $241,130 in content and software development costs during the quarter ended June 30, 2020, a decrease of 7% compared to content and software development costs of $260,361 expensed during the second quarter of fiscal 2019 and a decrease of 15% in content and software development costs of $284,723 in the first quarter of fiscal 2020. The decrease compared to the second quarter of fiscal 2019 and the first quarter of fiscal 2020, is due to the decrease in development expenses as a result of COVID-19.

The net loss after taxation for the quarter ended June 30, 2020, amounted to ($361,399), a loss of ($0.00) per share, compared to a net loss of ($398,296) or ($0.00) per share in the quarter ended June 30, 2019 and compared to net loss of ($403,924) or ($0.00) per share in the quarter ended March 31, 2020. This decrease in total loss for the quarter compared to the second quarter of fiscal 2019 and the first quarter of fiscal 2020 is due to cost saving measures implemented as a result of COVID-19.

Earnings before interest; depreciation and amortization; stock-based compensation and impairment of goodwill ("EBITDA") for the period ended June 30, 2020, amounted to ($197,057), compared to EBITDA of ($394,134) in the period ended June 30, 2019 and compared to EBITDA of ($246,954) in the period ended March 31, 2020.

During the quarter ended June 30, 2020, we provided cash of $544,689 in operating activities compared to cash used in operating activities of ($650,438) in the same period in the prior year and cash used in operating activities of ($400,604) in the first quarter of fiscal 2020.

During the quarter ended June 30, 2020, we used cash of ($2,199) in investing activities compared to cash used in investing activities of ($37,960) in the same period in the prior year and cash used in investing activities of ($4,909) in the first quarter of fiscal 2020.

Net cash generated by financing activities was $27,330 in the quarter ended June 30, 2020. This compares to cash used in financing activity of ($140,656) in the same period in the prior year and cash used in financing activity of ($16,187) in the first quarter of fiscal 2020.

We had cash of $1,115,332 and working capital of $1,753,820 at June 30, 2020. This compares to cash of $967,212 and working capital of $2,192,505 at December 31, 2019.

For full details of the Company's operations and financial results, please refer to the Securities and Exchange Commission website at www.sec.gov or the Kidoz Inc. corporate website at https://investor.kidoz.net or on the www.sedar.com website.

About Kidoz Inc.

KIDOZ Inc. (TSXV:KIDZ) (www.kidoz.net) owns a popular Kid-Safe mobile network. Engaging more than 100 million kids a month across our leading mobile KidTech network, KIDOZ provides an essential suite of services that unites kids' brands, content publishers and families. Trusted by Disney, Hasbro, Lego and more, the KIDOZ Safe Ad Network helps the world's largest brands to safely reach and engage kids across thousands of mobile apps and sites. The KIDOZ OS solution helps carriers and brands such as Lenovo, Acer, and PBS Kids bring a kid-focused experience to their family devices, in a fully GDPR and COPPA compliant way. KIDOZ's Rooplay (www.rooplay.com) offers an interactive learning experience worldwide with original content featuring Moomin, Mr. Men, Little Miss, Mr. Bean and hundreds more kid-focused learning games.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by the company) contains statements that are forward-looking, such as statements relating to anticipated future success of the company. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the company. For a description of additional risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission. Specifically, readers should read the Company's Annual Report on Form 10-K, filed with the SEC on April 22, 2020, and the prospectus filed under Rule 424(b) of the Securities Act on March 9, 2005 and the SB2 filed July 17, 2007, and the TSX Venture Exchange Listing Application for Common Shares filed on June 29, 2015 on SEDAR, for a more thorough discussion of the Company's financial position and results of operations, together with a detailed discussion of the risk factors involved in an investment in Kidoz Inc.

For more information contact:

Henry Bromley
CFO
ir@kidoz.net
(888) 374-2163

SOURCE: Kidoz Inc.

ReleaseID: 601489

VANCOUVER, BC / ACCESSWIRE / August 12, 2020 / Mota Ventures Corp. (CSE:MOTA)(FSE:1WZ:GR)(OTC PINK:PEMTF) (the "Company") is pleased to announce that it will change its name from "Mota Ventures Corp." to "Thoughtful Brands Inc." and its ticker symbol from "MOTA" to "TBI". Subject to the approval of the Canadian Securities Exchange (the "CSE"), the Company expects the name change to take effect on August 14, 2020 when its common shares will begin trading on the CSE under the new name and new ticker symbol.

The Company's fundamental business continues to be the development and sale of natural health products through its eCommerce technology, with a focus on the CBD and psychedelic medicine sectors. The Company believes that the name and symbol change better reflect the success of its strategic growth and its drive to acquire and develop branded products and research initiatives in the natural health products space.

"The rebranding and new name represent our multi-faceted expansion and evolution strategies moving forward," said CEO Ryan Dean Hoggan. "The change also reflects our commitment to becoming a global leader in the natural products industry. We are already making pivotal progress in the space through our work in psychedelics research, as well as by making quality hemp-derived CBD products more accessible worldwide through our eCommerce technology platform-and yet we are just starting to scratch the surface."

The Company's rebranding is the latest of several recent developments, including its:

European expansion through a joint venture with Franchise Cannabis Corp. whereby the Company will sell and market Franchise-manufactured CBD, hemp and cosmetic products in the European Union, Switzerland, Norway and the UK, utilizing its well-established eCommerce platform. (July 2020)

Acquisition of Verrian, a German natural psychedelic development company with the goal of formulating treatments for addictions, including opioids and alcohol. The move propels the Company into the emerging psychedelic market and supports the Company's forays into the natural health sector beyond the CBD market. (June 2020)

No action is required by existing shareholders with respect to the name and ticker symbol change. Certificates representing common shares of Mota Ventures Corp. will not need to be exchanged as a result of the name change. The name change was approved by the board of directors on August 10, 2020.

About Mota Ventures

Mota Ventures is an established eCommerce technology company that researches, develops, markets and sells natural health products in North America and Europe. The Company has a strong focus on the CBD market, as well as the burgeoning psychedelic medicine sector. Through its direct-to-consumer digital platform, the Company offers multiple well-established hemp-CBD brands, including Nature's Exclusive, Sativida and Franchise. The Company also owns and operates a 110,000 square foot manufacturing facility in Radebeul, Germany, where its highly skilled team is currently conducting clinical studies utilizing naturally occurring psilocybin and other compounds found in psychedelics for the treatment of opiate addiction. The Company anticipates future opportunities to create proprietary psilocybin products as legislation related to psychedelics evolves. The Company continues to pursue the acquisition of additional revenue-producing natural health product brands and operations in both Europe and North America with the goal of establishing an international distribution network utilizing its powerful eCommerce technology platform.

ON BEHALF OF THE BOARD OF DIRECTORS
MOTA VENTURES CORP.

Ryan Hoggan
Chief Executive Officer

For further information, readers are encouraged to contact Joel Shacker, President & CEO at +604.423.4733 or by email at IR@motaventuresco.com or www.motaventuresco.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Cautionary Note Regarding Forward-Looking Statement

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws, including with respect to its plans to acquire additional revenue-producing natural health product brands and operations in both Europe and North America with the goal of establishing an international distribution network utilizing its eCommerce technology platform. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

SOURCE: Mota Ventures Corp.

ReleaseID: 601499

OAKVILLE, ONTARIO / ACCESSWIRE / August 12, 2020 / Spark Power Group Inc. (TSX:SPG), parent company of Spark Power Corp. ("Spark Power" or the "Company"), today announced its financial results for the three and six month periods ended June 30, 2020. All amounts are in Canadian dollars unless otherwise specified.

"I am very proud of our second quarter results," said Jason Sparaga, Co-CEO of Spark Power Corp. "The true measure of the quality of a team is performance under adversity – and we have weathered this unprecedented storm extremely well. We look forward to returning to our strategy, balancing organic growth, and pursuing acquisitions in our pipeline." Sparaga continued.

"We are seeing the early fruits of our efforts in building a fully integrated One Spark culture, leveraging the best of each of the outstanding companies we have acquired," said Andrew Clark, Co-CEO, Spark Power Corp. "The way our teams have come together over the past quarter gives me great confidence that we are on the right track. This experience has made us that much stronger," added Clark.

"I am very pleased with our financial performance over the past quarter," said Dan Ardila, CFO, Spark Power Corp. "While we endured a revenue shortfall, our early and aggressive actions – along with payments from both the CEWS and PPP programs – allowed us to support our employee base through the pandemic and enter the third quarter with the liquidity we now need to support our return to the growth trajectory of the three quarters preceding the pandemic."

Financial Highlights

Good results in Q2, in light of the significant effect of the pandemic on the economy.
Quarterly revenue of $46.3 million, as compared to $44.3 million from the comparable quarter in 2019 representing an increase of 4.7%.
On a proforma basis, revenue decreased by $8.9 million or 16.1%. Canadian sales were down $11.9 million or 24.3% in the quarter while U.S. sales increased $3.0 million or 46.4%.
Quarterly adjusted EBITDA of $9.1 million, as compared to $5.5 million from the comparable quarter in 2019 representing an increase of 66.0%.
On a proforma basis EBITDA grew $1.1 million or 13.3%
Recognized $8.0 million in subsidies under the Canada Emergency Wage Subsidy ("CEWS") program.
Gross margin, including the impact of the CEWS, increased in the second quarter to 34.5% as compared to 33.0% in the comparable quarter in 2019
Liquidity improved as draws on the Company's $30.0 million operating line decreased to $8.7 million, down from $23.3 million at March 31, 2020 and $17.4 million at December 31, 2019.

Business Highlights – Operational

Continued to prioritize the integration of core systems, sales processes, supply chain, and brand integration in the second quarter.
Management and operational teams continued to focus on the following three areas: health and safety, liquidity, and maintaining service to customers.
Focused on developing and implementing stringent health and safety procedures and protocols across the organization – for employees and customers safety – as jurisdictions began reopening at different speeds and with different rules across Canada and the US.

Held weekly leadership meetings to ensure health and wellness of employees, customers and our business.

Executed several large customer projects across all markets, despite COVID-19 impact.

Business Highlights – Corporate

Formally signed a revised financing agreement with our banking partner, The Bank of Montreal (BMO).

Focused on providing additional liquidity for the Company, including increased borrowing capacity, principal payment deferral, and covenant relief.

Announced that the Board of Directors is considering a restart of our strategic review process (which has since been confirmed as of August 4, 2020). The strategic review is to be conducted by the Special Committee, who have been authorized to identify, evaluate, and consider a broad range of alternatives available to the Company, focused on providing the necessary capital to execute on the Company's strategic plan.
Held Annual General Meeting (AGM) of the shareholders – received shareholder approval for all resolutions.

Quarterly Conference Call
Management is hosting an investor conference call and webcast tomorrow, August 13, 2020, at 8:30 a.m. ET to discuss its financial results in greater detail. To join by telephone dial: +1 (844) 407-9500 (toll-free in North America) or +1 (862) 298-0850 (local and international), with conference ID: 36594. To listen to a live webcast of the call, please visit the investor relations section of Spark Power's website at https://sparkpowercorp.com/about-us/investor-relations/. An archived replay of the webcast will be available following the conclusion of the call.

Please dial in or log on 10 minutes prior to the start time to provide sufficient time to register for the event.

Spark Power's Second-Quarter 2020 Interim Unaudited Condensed Consolidated Financial Statements and Notes of its Second-Quarter 2020 Management Discussion and Analysis are available on Spark Power's website at www.sparkpowercorp.com, and will be filed on SEDAR at www.sedar.com.

About Spark Power
Spark Power is the leading independent provider of end-to-end electrical contracting, operations and maintenance services, and energy sustainability solutions to the industrial, commercial, utility, and renewable asset markets in North America. We work to earn the right to be our customers' Trusted Partner in Power™. Our highly skilled and dedicated people, located in the communities we serve, combined with our knowledge of the power industry, technology expertise, and commitment to safety, ensures we deliver the right solutions that keep our customers' operations up and running today and better equipped for tomorrow. Learn more at www.sparkpowercorp.com.

Forward-Looking Statements
This news release may contain forward-looking statements (within the meaning of applicable securities laws) which reflect Spark Power's current expectations regarding future events. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate" and other similar expressions. The forward-looking statements in this press release include statements regarding the Company's opportunities for future growth, acquisitions, future liquidity and other statements that are not historical fact, and without limitation, includes statements by Messrs. Sparaga and Clark relating to COVID-19 and the business and team.

The forward-looking statements in this news release are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Several factors could cause actual results to differ materially from the results discussed in the forward-looking statements. Such factors include, among others: the ability of the Company to find a suitable strategic partner, potential buyer or participants for a financing; currency fluctuations; disruptions or changes in the credit or security markets; results of operations; and general developments, market and industry conditions. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, Spark Power assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Selected Consolidated Financial Information

 
Three Months Ended June 30,
 
 
 
 
 
Six months ended June 30,
 
 
 
 

 
2020
 
 
2019
 
 
% Change
 
 
2020
 
 
2019
 
 
% Change
 

Revenue

 
$
46,340
 
 
$
44,274
 
 
 
4.7
%
 
$
99,852
 
 
$
78,547
 
 
 
27.1
%

Gross Profit

 
 
15,981
 
 
 
14,587
 
 
 
9.6
%
 
 
29,304
 
 
 
26,050
 
 
 
12.5
%

Gross Profit Margin

 
 
34.5
%
 
 
32.9
%
 
 
 
 
 
 
29.3
%
 
 
33.2
%
 
 
 
 

Selling, General & Administration

 
 
11,615
 
 
 
11,872
 
 
 
-2.2
%
 
 
24,990
 
 
 
22,627
 
 
 
10.4
%

Income from Operations

 
$
4,366
 
 
$
2,715
 
 
 
60.8
%
 
$
4,314
 
 
$
3,423
 
 
 
26.0
%

EBITDA (1)

 
$
7,993
 
 
$
1,852
 
 
 
-331.6
%
 
$
13,373
 
 
$
5,079
 
 
 
-163.3
%

EBITDA Margin (1)

 
 
17.2
%
 
 
4.2
%
 
 
 
 
 
 
13.4
%
 
 
6.5
%
 
 
 
 

Adjusted EBITDA (1)

 
$
9,112
 
 
$
5,488
 
 
 
66.0
%
 
$
14,492
 
 
$
8,715
 
 
 
66.3
%

Adjusted EBITDA Margin (1)

 
 
19.7
%
 
 
12.4
%
 
 
 
 
 
 
14.5
%
 
 
11.1
%
 
 
 
 

Pro-forma Adjusted EBITDA (1)

 
$
9,112
 
 
$
8,039
 
 
 
13.3
%
 
$
14,492
 
 
$
12,793
 
 
 
13.3
%

Pro-forma Adjusted EBITDA Margin (1)

 
 
19.7
%
 
 
14.6
%
 
 
 
 
 
 
14.5
%
 
 
13.0
%
 
 
 
 

Pro-forma Revenue (1)

 
$
46,340
 
 
$
55,211
 
 
 
-16.1
%
 
$
99,852
 
 
$
98,485
 
 
 
1.4
%

 
 
Q2 2020
 
 
 
Q1 2020
 
 
 
Q4 2019
 
 
 
Q2 2019
 

Bank Indebtedness

 
$
13,711
 
 
$
28,256
 
 
$
21,597
 
 
$
16,385
 

Senior Secured Long-term Debt

 
$
67,265
 
 
$
61,281
 
 
$
62,516
 
 
$
44,911
 

Promissory Notes

 
$
13,488
 
 
$
16,213
 
 
$
16,213
 
 
$
13,082
 

Total Debt (2)

 
$
94,464
 
 
$
105,750
 
 
$
100,326
 
 
$
74,378
 

1 EBITDA, Adjusted EBITDA, Pro-forma Adjusted EBITDA, Adjusted EBITDA Margin, Pro-forma Adjusted EBITDA Margin and Pro-forma Revenue are non-IFRS measures. Refer to Non-IFRS measures for definitions of these terms.

2 Total debt includes Bank indebtedness, long-term debt and promissory notes.

The following table is a summary of Spark Power's results for the periods indicated:

(in $000's)

 
Three months ended June 30,
 
 
Six months ended June 30,
 

 
2020
 
 
2019
 
 
2020
 
 
2019
 

Revenue

 
$ 
46,340
 
 
$ 
44,274
 
 
$ 
99,852
 
 
$ 
78,547
 

Cost of sales

 
 
30,359
 
 
 
29,687
 
 
 
70,548
 
 
 
52,497
 

Gross profit

 
 
15,981
 
 
 
14,587
 
 
 
29,304
 
 
 
26,050
 

Selling, general and administrative expenses

 
 
11,615
 
 
 
11,872
 
 
 
24,990
 
 
 
22,627
 

Income from operations

 
 
4,366
 
 
 
2,715
 
 
 
4,314
 
 
 
3,423
 

Finance costs

 
 
(1,608
)
 
 
(1,308
)
 
 
(3,398
)
 
 
(2,597
)

Transaction costs

 
 
–
 
 
 
(536
)
 
 
–
 
 
 
(536
)

Reorganization and other non-recurring costs

 
 
(1,119
)
 
 
(1,000
)
 
 
(1,119
)
 
 
(1,000
)

Earn-out

 
 
–
 
 
 
(2,100
)
 
 
–
 
 
 
(2,100
)

Foreign exchange gain (loss)

 
 
(294
)
 
 
14
 
 
 
87
 
 
 
(28
)

 
 
(3,021
)
 
 
(4,930
)
 
 
(4,430
)
 
 
(6,261
)

Income (loss) before income taxes

 
 
1,345
 
 
 
(2,215
)
 
 
(116
)
 
 
(2,838
)

Income tax recovery (expense):

Current

 
 
(982
)
 
 
960
 
 
 
(1,696
)
 
 
1,436
 

Deferred

 
 
869
 
 
 
(886
)
 
 
1,369
 
 
 
(1,257
)

 
 
(113
)
 
 
74
 
 
 
(327
)
 
 
179
 

Net income (loss)

 
 
1,232
 
 
 
(2,141
)
 
 
(443
)
 
 
(2,659
)

Cumulative translation adjustment

 
 
216
 
 
 
–
 
 
 
(442
)
 
 
–
 

Comprehensive income (loss)

 
$ 
1,448
 
 
$ 
(2,141
)
 
$ 
(885
)
 
$ 
(2,659
)

EBITDA

 
 
7,993
 
 
 
1,852
 
 
 
13,373
 
 
 
5,079
 

EBITDA margin

 
 
17.2
%
 
 
4.2
%
 
 
13.4
%
 
 
6.5
%

Adjusted EBITDA

 
 
9,112
 
 
 
5,488
 
 
 
14,492
 
 
 
8,715
 

Adjusted EBITDA margin

 
 
19.7
%
 
 
12.4
%
 
 
14.5
%
 
 
11.1
%

Pro-forma Adjusted EBITDA

 
 
9,112
 
 
 
8,039
 
 
 
14,492
 
 
 
12,793
 

Pro-forma Adjusted EBITDA margin

 
 
19.7
%
 
 
14.6
%
 
 
14.5
%
 
 
13.0
%

Pro-forma Revenue

 
$ 
46,340
 
 
$ 
55,211
 
 
$ 
99,852
 
 
$ 
98,485
 

Investor and Regulatory Inquiries:
Dan Ardila
Chief Financial Officer
dardila@sparkpowercorp.com
+1 (905) 829-3336 x127

Media Inquiries:
Kim Samlall
Director, Marketing Communications
media@sparkpowercorp.com
+1 (905)-829-3336 x185

SOURCE: Spark Power Group Inc.

ReleaseID: 601443

TORONTO & NEW YORK / ACCESSWIRE / August 12, 2020 / Binovi Technologies Corp., (Binovi) (TSXV:VISN)(OTCQB:BNVIF), a leader in neuro-vision performance technology, today shared the key highlights from its Investor Conference call held Tuesday August 11th, 2020. The call, led by Chairman Terry Booth, CEO Adam Cegielski and Scientific Advisor Dr. Sandra Stoddard PhD, formally announced the Company's expansion in to the K-12 education sector, drawing attention to the great impact that professional-lead neuro-vision therapy and training can have on learning and reducing the global education gap.

"The plan in place for the next year truly exemplifies the shift necessary to grow the Binovi Platform to a Global and Noble product. Our team has worked tirelessly to develop and drive the commercial success of the platform, and the expansion into k-12 education is a natural evolution of the company's capabilities to enhance cognitive performance through vision training. The efforts reflect our long-term business strategy and goals," commented Terry Booth, Binovi Chairman.

Key Highlights from Binovi Investor Call:

Market Potential

Terry: "By targeting K-12, we're aiming to get Binovi into over 15,000 schools in Canada and over 130,000 schools in the United States."

Sandra: "I think [the rate of adoption] will skyrocket once we have the data in place about using Binovi. There's so much research that proves already that vision therapy does improve developmental domains, the reading skills of kids, but we want to be able to show unequivocally that Binovi Touch works."

Adam: "There are a lot of good tools out there, and there are a lot of companies that have built tools and they're selling their tools and they've done a good job on how they've built those tools and how they market those tools; they've been very focused and they've had market penetration success; We are a platform, a platform that can continuously add technology and expand. We've taken a more global approach in our product development."

Education Impact

Sandra: "Reading at grade level by grade 3 is the highest predictor for high school completion. We know that when kids complete high school it leads to so many more positive outcomes for them. In our field, we know that when kids don't graduate, it's close to 90% of kids that aren't graduating weren't able to read by grade 3."

Sandra: "Close to 80% of children that do have learning disabilities in the area of reading meet the criteria for accommodation convergence problems, which literature has shown to lead to issues with accuracy, comprehension, or fluency. We also know that the earlier that we can intervene with individuals, the earlier we can remediate the problem."

Sandra: "I am incredibly excited about utilizing this platform to really confirm that, if we can intervene early and help kids utilize vision therapy and remediate the vision difficulties, I'd like to be able to prove that it does have an impact on reading performance. If we can demonstrate that intervening early with these individuals can not only improve their ready ability but also improve their ability to attend; lots of kids that have been diagnosed with Attention Deficit Hyperactivity Disorder (ADHD) also have vision deficits, so the potential for to globally impact these young kids, not only from a reading perspective but from those attentional learning skills needed to be successful in life, this could be a game-changer for the education field."

Global Impact

Adam: "Over a billion people suffer from binocular issues."

Terry: "This is way bigger than cannabis; this is a huge opportunity for investors but also schools, kids, and athletes. This is something that affects millions of people."

Economic impact

Sandra: "Increasing the number of high school graduates in Canada by just 1% can save $7.7B; we see that not completing high school leads to higher rates of incarceration, lower levels of employment, more health issues."

Ease of Use

Terry: "Vision training can take as little as 15 minutes per day, supported at home."

Adam: "The infrastructure exists with support staff in schools and the goal is to use technology to link in with someone at the schools to be a centralized person within the school to work with teachers and simplifying the implementation."

Sandra: "Having been through a walkthrough of the Binovi Platform for vision therapy, I can say that it is very very easy to use. We'd probably have to make some changes to make it motivational to some of the younger kids, but it is easy to use, all platforms can be integrated into the Binovi Platform, so my data collection can be tracked using Binovi. iPads are familiar, so I can easily see it being adopted into the education system."

Telehealth

Adam: "Telehealth is a significant reality in the North American marketplace today; it's really a by-product of the advancement of technology and where we are today. We've traditionally been dealing with technology solutions that are impacting us in different ways. I think it's a unique opportunity now to converge all this technology into one spot. The education environment has never seen such dramatic changes in such a short period of time."

Adam: "Our CTO, Dr. Mithani, has been working extensively on understanding the necessary pieces that Binovi has to have in place, and to be honest we've been on top of this substantially even before COVID hit. We've been working towards these things."

Terry: "In our early discussions, Adam already had the plans in place to make sure that this was available through a telehealth platform. We needed to make this available to people from their homes, and it's become a far bigger piece of the puzzle."

"Binovi has the opportunity to be the global leader in how we shape the vision and brains of future generations. Looking ahead, we have implemented a number of initiatives to ensure the Company's continued growth, and to generate the best possible performance results during these unique times. We are fortunate to support dedicated product users, while relying upon the experience and knowledge of our team to lead us to the next summit," added Adam Cegielski, Binovi CEO

The expansion into education is in stride with the Company's "Global and Noble" initiatives directed towards accelerating the development of reading fundamentals.

Recent 2020 News Releases:

Binovi Transforming K-12 Global Education Through Guided Classroom Technology Resources

Terry Booth Schedules Investor Conference Call to Discuss Binovi's New Direction

White House Fellow (1990-91), Eric Phillips, Joins Binovi Technologies as Strategic Advisor

Binovi Technologies Secures VIMA Rev Strobe Lenses Through a Strategic Product Acquisition and Announces Private Placement

Late Filing of Annual Financial Statements:

The company also announces today that it anticipates additional delays in filing its financial statements for the year ended February 29, 2020 and the related management's discussion and analysis ("MD&A") and certifications (the "Annual Filings"). The Company has filed an application with the relevant securities authorities requesting that they issue a management cease trade order (an "MCTO").

As previously announced, the Company had relied upon the blanket relief provided by the Canadian Securities Administrators (the "CSA") in response to the COVID-19 pandemic to extend the filing deadline for the Annual Filings. Due to ongoing complications in collection of certain required data and documentation to complete the audit of the Company caused by COVID-19, the resulting restrictions in travel and limited access to facilities, the Company does not expect to be able to file the Annual Filings by their respective extended deadlines. The Company will work with its auditors to complete the audit of the Company's consolidated financial statements, and expects to file the Annual Filings by August 31, 2020.

Pursuant to National Policy 12-203 Management Cease Trade Orders ("NP 12-203"), the Company is requesting that an MCTO be issued. If granted, the MCTO will restrict all trading by the Company's Chief Executive Officer and Chief Financial Officer, and such other directors, officers and persons as determined by the applicable regulatory authorities, in the Company's securities. There is no certainty that such order will be granted.

An MCTO will not affect the ability of persons other than the directors, officers and insiders to trade in the Company's securities. An MCTO will remain in effect until the Annual Filings are filed or until it is revoked or varied. If an MCTO is not granted, the applicable regulatory authorities may issue a cease trade order against the Company for failure to file the Annual Filings within the prescribed time period.

Until the Company completes the Annual Filings, the Company will comply with the alternative information guidelines set out in National Policy 12-203 – Cease Trade Orders for Continuous Disclosure Defaults for issuers who have failed to comply with a specified continuous disclosure requirement within the times prescribed by applicable securities laws. The guidelines, among other things, require the Company to issue bi-weekly default status reports by way of a news release so long as the Annual Filings have not been filed.

For additional information on the Company, please visit https://www.binovi.com/investor-reports/

About Binovi Technologies Corp.

Binovi is a best-in-class neuro-visual performance platform designed to test, analyze, track, and report on individual cognitive performance. Binovi combines hardware, software, specialized expert knowledge, and unique data insights to deliver customized, one-on-one training and learning protocols ideal for K-12 Students, Vision Care Specialists, and Sports Performance testing and training. Designed for vision optimization and the enhancement of skills related to cognitive performance, Binovi provides measurable results in less time, and with less effort. Binovi is currently used in over 1,500 locations across 20 countries.

Terry Booth

Chairman

Adam Cegielski

Founder | CEO

Dr. Sandra Stoddard PhD

Scientific Advisor

Investor Relations

Email: invest@binovi.com

Toll-free: 1 (844) 866-6162

https://binovi.com/investors/

Forward looking information:

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com . The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

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: Binovi Technologies Corp.

ReleaseID: 601470

Financials for First Quarter of Fiscal Year 2021 ended June 30, 2020 will be released August 14, 2020

NORTHVALE, NJ / ACCESSWIRE / August 12, 2020 / Elite Pharmaceuticals, Inc. ("Elite" or the "Company") (OTCQB:ELTP), a specialty pharmaceutical company developing niche generic products, announced today that it will release its 2021 first quarter financial results on Friday, August 14, 2020. Elite's management will host a live conference call Monday, August 17 at 11:30 AM EDT to discuss the company's financial and operating results and provide a general business update. Stockholders may submit questions to the company prior to the call.

Conference Call Information

Date:

August 17, 2020

Time:

11:30 AM EDT

Dial- in numbers:

1-800-346-7359 (domestic)
1-973-528-0008 (international)

Conference number:

98840

Questions:

dianne@elitepharma.com by 7:00 PM EDT on Saturday, February 15, 2019

Audio Replay:

https://elite.irpass.com/events_presentations

About Elite Pharmaceuticals, Inc.

Elite Pharmaceuticals, Inc. is a specialty pharmaceutical company which develops niche generic products. Elite specializes in developing and manufacturing oral, controlled-release drug products. Elite owns multiple generic products which have been licensed to TAGI Pharma, Glenmark Pharmaceuticals, Inc., USA, and Lannett Company, Inc. Elite operates a GMP and DEA registered facility for research, development, and manufacturing located in Northvale, NJ.

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Including those related to the effects, if any, on future results, performance or other expectations that may have some correlation to the subject matter of this press release, readers are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, Elite's ability to obtain FDA approval of the transfers of the ANDAs or the timing of such approval process, delays, uncertainties, inability to obtain necessary ingredients and other factors not under the control of Elite, which may cause actual results, performance or achievements of Elite to be materially different from the results, performance or other expectations that may be implied by these forward-looking statements. These forward-looking statements may include statements regarding the expected timing of approval, if at all, of SequestOx™ by the FDA, and the actions the FDA require of Elite in order to obtain approval of the NDA. These forward-looking statements are not guarantees of future action or performance. These risks and other factors, including, without limitation, Elite's ability to obtain sufficient funding under the LPC Agreement or from other sources, the timing or results of pending and future clinical trials, regulatory reviews, and approvals by the Food and Drug Administration and other regulatory authorities and intellectual property protections and defenses, are discussed in Elite's filings with the Securities and Exchange Commission, including its reports on forms 10-K, 10-Q, and 8-K. Elite is under no obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

For Elite Pharmaceuticals, Inc.
Dianne Will, Investor Relations, 518-398-6222
Dianne@elitepharma.com
www.elitepharma.com

SOURCE: Elite Pharmaceuticals, Inc.

ReleaseID: 601468

WEST MELBOURNE, FL / ACCESSWIRE / August 12, 2020 / BK Technologies Corporation (NYSE American:BKTI), a holding company with an operating subsidiary that designs, manufactures and markets two-way radio communications equipment for public safety applications, today announced it has engaged Hayden IR, a highly recognized, national investor relations firm, to launch a comprehensive investor relations program.

John Struble, BK's Chairman of the Board commented, "We are focusing our attention on positioning BK as a growth company in the public safety markets. While we have grown revenue to over $40 million from less than $30 million only a few years ago, we are committed to pursuing further organic revenue growth while expanding our focus on strategic M&A opportunities outside of BK."

Tim Vitou, BK's President, commented "Over the past year, we have strengthened our finances and positioned BK Technologies for profitable growth. In Q2 alone we reported a reduction in total operating expenses by almost 25%; a savings of approximately $3.3 million. Furthermore, we recently completed the design of the first model in our new BKR family of products, which we anticipate will be available for sale during the second half of 2020. We believe it is an appropriate time to retain a national investor relations firm, to fully capitalize on these important milestones."

With offices in New York, Phoenix, Minneapolis, and San Diego, Hayden IR provides a comprehensive range of investor relations services to a growing list of clients. For more than two decades, Hayden IR has been a recognized leader in driving market recognition and creating sustainable competitive advantages for more than 150 micro- and small-cap companies. Hayden delivers expertise and professionalism in such areas as investor management, relationship building, awareness campaigns, online presence, and corporate identity.

James Carbonara, Partner of Hayden IR, commented, "BK Technologies represents an enduring, compelling, and scalable opportunity. They have been a leading nationwide provider of reliable public safety two-way radios for over 70 years. With new products launching, an overhauled and more efficient expense structure, and on the cusp of profitability, BK Technologies is poised to generate substantial shareholder value. Now is the time for a broader investor audience to take notice. The team at Hayden IR looks forward to significantly raising the visibility of this timely opportunity, with the professional investment community."

About BK Technologies
BK Technologies Corporation is an American holding company deeply rooted in the public safety communications industry, with its operating subsidiary manufacturing high-specification communications equipment of unsurpassed reliability and value for use by public safety professionals and government agencies. BK Technologies is honored to serve our public safety heroes with reliable equipment when every moment counts. The Company's common stock trades on the NYSE American market under the symbol "BKTI". Maintaining its headquarters in West Melbourne, Florida, BK Technologies can be contacted through its web site at www.bktechnologies.com or directly at 1-800-821-2900.

Company Contact:
Hayden IR
James Carbonara
james@haydenir.com
(646)-755-7412

SOURCE: BK Technologies Corporation

ReleaseID: 601471

VANCOUVER, BC / ACCESSWIRE / August 12, 2020 / Renaissance Gold Inc. (TSXV:REN)(OTCQB:RNSGF) ("RenGold" or the "Company") is pleased to announce that RenGold securityholders have approved the Company's previously announced plan of arrangement (the "Arrangement") with Evrim Resources Corp. ("Evrim") at the Special Meeting of RenGold shareholders, optionholders and warrantholders (the "Meeting") held today.

The Arrangement will result in RenGold and Evrim combining in a merger-of-equals, with Evrim acquiring all of the outstanding RenGold common shares (each, a "RenGold Share") through a share exchange transaction. Concurrently with the Arrangement, Evrim will change its name to Orogen Royalties Inc. ("Orogen"). Orogen will focus on project generation, consistent with the history of both Evrim and Renaissance, but with a renewed focus on organic royalty creation and royalty acquisition.

Under the terms of the Arrangement each RenGold Share will be exchanged for 1.2448 Evrim common shares (each, a "Evrim Share"), which will result in RenGold shareholders and Evrim shareholders immediately prior to the Arrangement each holding 50% of the issued and outstanding shares of Orogen immediately following the Arrangement. In addition, outstanding RenGold stock options and RenGold Share purchase warrants will be exchanged for replacement options to acquire Evrim Shares and replacement warrants to acquire Evrim Shares, each giving effect to the exchange ratio of 1.2448 Evrim Shares for each RenGold Share.

At the Meeting, the special resolution approving the Arrangement was approved by 99.99% of the votes cast by RenGold shareholders, RenGold optionholders and RenGold warrantholders present in person or by proxy (voting together as a single class). In addition, the Arrangement was approved by 99.98% of the votes cast by RenGold shareholders present in person or by proxy.

Completion of the Arrangement remains subject to approval of the Supreme Court of British Columbia and certain other customary closing conditions. The application for the final order of the Supreme Court of British Columbia is scheduled for August 17, 2020. Assuming that all conditions to closing of the Arrangement are satisfied or waived, the Arrangement is expected to become effective on or about August 18, 2020.

Additional information regarding the terms of the Arrangement is set out in RenGold's management information circular dated July 8, 2020, which is filed under the Company's SEDAR profile at www.sedar.com.

By: Robert Felder, President & CEO

For further information, contact:

Robert Felder 775-337-1545 or bfelder@rengold.com

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.

This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that RenGold expect to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.

Forward looking information relates to statements concerning the percentage of Evrim Shares held by RenGold shareholders following the Arrangement. This document also contains forward-looking statements regarding the anticipated completion of the Transaction and timing thereof. Forward-looking statements in this document are based on certain key expectations and assumptions made by RenGold and Evrim, including expectations and assumptions concerning the receipt, in a timely manner, of regulatory and stock exchange approvals in respect of the Transaction.

Although RenGold believe the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Furthermore, the extent to which COVID-19 may impact RenGold's business will depend on future developments such as the geographic spread of the disease, the duration of the outbreak, travel restrictions, physical distancing, business closures or business disruptions, and the effectiveness of actions taken in Canada and other countries to contain and treat the disease. Although it is not possible to reliably estimate the length or severity of these developments and their financial impact as of the date of approval of these condensed interim consolidated financial statements, continuation of the prevailing conditions could have a significant adverse impact on RenGold's financial position and results of operations for future periods.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of RenGold's management on the date the statements are made. Except as required by securities laws, RenGold undertake no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE: Renaissance Gold Inc.

ReleaseID: 601442