NEW YORK, NY / ACCESSWIRE / August 12, 2020 / Successful businesswoman Tracilea Young has had multiple business ventures flourish over the years. This is attributed to her natural characteristic of being mindful and determined to achieve success no matter what she does. As a mother of eight children, Tracilea was still able to succeed on the business front as well as raising her own children. She homeschooled her children for seventeen years, all while working on her network marketing business part-time. During this time, she also went to school to be a midwife, and eventually earned herself a spot on the million-dollar earner club.

She has achieved so much through her hard work and dedication and has become a true model of American success, equipped with all the business knowledge and experience that is necessary to succeed, as well as the burning passion and the drive to expand and scale her businesses into million-dollar establishments.

One of her fascinating business ventures has been a large plastic surgery and medical spa chain, one which she quickly made into a multi-million-dollar revenue earning company. After that venture, she moved on to help even more people by opening a chain of compassionate care medical clinics. Her clinics have helped over 39,000 people get all the compassionate care they need, providing so much value for all the people around her.

She also managed to keep working on her network marketing business part-time, amassing a solid network of people that do business with her. Most recently, she has delved into the CBD industry and is now the presidential founder and master director at Green Compass, Ltd.

Green Compass is where CBD consumers go to get the highest-quality CBD products on the market, some of which are USDA Certified Organic as well as a safety guarantee. Not only do they provide the best quality CBD products, they also provide the safety information, which most CBD suppliers do not. They put the safety of their customers first, taking extra steps to secure a Certificate of Analysis from an ISO17025 certified laboratory to give their customers some added confidence on Green Compass' products.

Tracilea first thought of delving into the CBD industry when she thought of her family. She had always wanted to connect the power of nature and wellness to her loved ones. This is why Green Compass does not compromise when it comes to providing the best quality products in the CBD market. With their organically grown hemp that they've put under strict cultivation and sustainability practices, their most loyal customers should be put at ease with how Green Compass takes care of their plants.

The farming team at Green Compass oversees their North Carolina farms with the utmost supervision. They consistently adhere to the purity and ethical standards that they have put up. They also make sure that other Green Compass affiliate farms follow the same standards, so they do not tarnish the brand that they've so carefully built.

Organically growing hemp is no easy matter. Luckily, Green Compass enjoys the challenge and is willing to give their customers the best quality products that they could ever dream of. Any harmful chemicals, herbicides, and pesticides are excluded from the Green Compass process, making their products extremely safe and reliable.

With the keen and meticulous eye of Tracilea Young at the helm of Green Compass, the CBD market is going to see a lot of improvements and success over the years. Though one thing's for sure, nobody else is doing it better than Tracilea Young and Green Compass.

Visit Tracilea Young's official website to keep posted on her latest business ventures.

Company: Tracilea Young

Email: mylifesparkles.com@gmail.com

Phone number: 831-247-3911

Website: www.mylifesparkles.com

SOURCE: Tracilea Young

ReleaseID: 601301

LOS ANGELES, CA / ACCESSWIRE / August 12, 2020 / Andrew Arteaga is regarded by many in the tattoo industry as one of the most skilled artists in the world. With an impressive celebrity clientele and thousands of completed pieces that will leave any viewer in awe, there is no question why Arteaga is noted among the elite.

Arteaga was raised in Santa Ana, California and stated that he has always had a passion for art since he was a child. Creativity has flowed from his mind for as long as he can remember, and he enjoys all forms of art, from music to drawn pieces. Growing up life was rather difficult for Andrew, as he was constantly surrounded by many negative influences. Many of his friends and family members had fallen victim to drug use, and he always felt as if he was trying to make ends meet. He often used his passion for art as an escape, and over time he became increasingly skilled at drawing. Arteaga's passion for music sparked his drive to create physical art, and throughout his time in middle school and high school he had won several drawing competitions. As Andrew's passion for art continued to grow, his family began discouraging his artistic aspirations as they did not believe it could translate to a "real" career. Discouraged and trying to make ends meet, Andrew became involved with the negative things around him. Ultimately, he found himself in trouble with the law and was sentenced to two years in jail.

Over the course of his two-year sentence, Andrew became fascinated with tattoos after receiving his first one and began studying everything having to do with the skill shortly after. He became a practicing tattoo artist over the remainder of his sentence; however, after his release he didn't pursue a career as a tattoo artist. Instead, he decided to go back to school to pursue a degree. After some time back in the regular world, Andrew's stepdad noticed the serious passion he had for art and gifted him with a tattoo kit. This gesture reignited Andrew's passion for tattooing, and he began practicing on an encouraging friend he met at school.

Arteaga continued working on his craft as a tattoo artist for eight years, and it was in his eighth year that he would finally get his big break. At the time, Arteaga was serving as an apprentice under famous tattoo artist Romeo Lacoste at his shop located in Los Angeles. While working at Lacoste's shop, Arteaga met and worked on a well-known rapper who he later became friends with. This produced what Arteaga refers to as a "snowball effect" and introduced him to a world of celebrity clients. Through his new connection and his impressive work, Arteaga quickly went on to work with celebrity clients such as Trippie Red, Smoke Purp, Jake Paul, and members of the Hype House, just to name a few. Since then, he has worked with numerous athletes, artists, actors, and so on.

Andrew Arteaga and Nyjah Huston

Arteaga is now a successful entrepreneur who is widely recognized on a global scale for his talents and long list of celebrity clients. He plans to continue growing his business, and believes he still has a substantial amount to accomplish. When asked what advice he would give to aspiring entrepreneurs he stated, "Dedication and consistency come hand in hand. No matter what your circumstances, or where you come from, there's always a way out. To do this successfully you must separate yourself from the life you currently have to elevate to the life that you aspire to live." Andrew Arteaga is on track to paving himself into the tattoo history books, and we would like to wish him the best in all of his future endeavors.

You can keep up with Andrew Arteaga and his incredible work on his Instagram.

SOURCE: BIGWORK Media

ReleaseID: 601300

VANCOUVER, BC / ACCESSWIE / August 12, 2020 / NeutriSci International Inc. ("NeutriSci" or the "Company") (TSXV:NU)(OTCQB:NRXCF)(FRANKFURT:1N9), an innovative technology company developing products for the nutraceutical industry, is pleased to announce that Cryopharm Corp. ("Cryopharm" – www.cryopharm.com), its US manufacturing and distribution partner; will begin the distribution of NeutriSci and Cryopharm's CBD & THC products into more than 90 dispensaries across Southern California the last week of August 2020. The distribution is expected to grow to over 350 dispensaries in Q4-2020.

NeutriSci's Zenstix™ and Kushtabs™, quick melting tabs activate faster when compared to other cannabis edibles, with a powerful and maximum allowable 10mg dose. Each stick contains 6 tablets in a child-resistant package. This calorie and sugar-free product comes in three flavors (Lemon Lime, Iced Pomegranate and Raspberry Lemonade).

Cryopharm's Marbl Melts™ represent an industry-first cannabis infused product; flavorful, micro dosed, rapidly dissolvable oral melts infused with THC & CBD. NeutriSci's core ingredients form the basis of Marbl Melts™, containing a clinically tested dosage providing on-set in as little as 12 minutes; compared to traditional cannabinoid infusion methods that often have incorrect dosages that can potentially take up to 120 minutes to become active. Marbl Melts™ are available in several unique offerings designed for specific uses such as sleep, energy, relaxation.

Glen Rehman, CEO of NeutriSci, stated, "Despite limited and reduced accessibility due to COVID-19, the California manufacturing facility has been able to gradually increase its production capacity to meet initial demands. Cryopharm has also been able to work with its network of distributors to secure initial orders and begin the distribution of the Zenstix and Kushtabs into Northern California as early as August 27th."

"Despite these trying and difficult times, we have been able to further the business and increase the growth potential by expanding our partner relationships. With the start of distribution in California, NeutriSci will generate revenue from our own line of THC products and we will also be realizing new revenue streams from licence partners like Cryopharm. While we continue to push forward in the tough US climate, we are grateful that we have made great progress in other parts of the world such as Japan. Our global business model has opened opportunities around the world; helping to insulate us from potential regional slowdowns and allowing us maintain our internal sales targets, reach profitability and increase shareholder value," Glen Rehman added.

About NeutriSci International Inc.

NeutriSci specializes in the innovation, production, and formulation of nutraceutical products. Established in 2009, NeutriSci's is building sustainable sales models with Convenience, Chain Drug, and Mass Market and Supermarket retailers for neuenergy®, the Company's natural energy and focus supplement that has at its core, the beneficial effects of blueberries. For more information, please visit: www.neutrisci.com.

On Behalf of the Board of Directors of

NEUTRISCI INTERNATIONAL INC.
Glen Rehman
CEO
Tel: (403) 264-6320

For investor inquiries, please contact investors@neutrisci.com

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

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

Statements in this press release have not been evaluated by the Food and Drug Administration. Products or ingredients are not intended to diagnose, treat, cure, or prevent any disease.

SOURCE: NeutriSci International Inc.

ReleaseID: 601276

Company to Advance Exploration on Newly Optioned Property from Abitibi Royalties Targeted to Begin in Late September

VANCOUVER, BC / ACCESSWIRE / August 12, 2020 / Victory Resources Corporation (CSE:VR)(FWB:VR61)(OTC PINK:VRCFF) ("Victory" or the "Company) is pleased to announce that the Company is advancing its exploration plan with the development of a work program for September 2020 on the Hammond Reef South Project, which adjoins Agnico Eagle's Hammond Reef Project in Northwestern Ontario.

Having optioned the Hammond Reef South property from Abitibi Royalties, announced on 10 August 2020, the Company is developing a work program for September of this year, which will include an extensive soil survey, mapping and magnetometer surveying, in anticipation of a drill program as early as Fall 2020, pending permitting.

Hammond Reef South Work Program Highlights

Victory developing work program aiming for September 2020 start
Work program will include:

Extensive Soil Sampling
Mapping and Prospecting
Magnetometer and IP Surveys

Work will focus on the North part of the property, emphasizing the area Southwest of the Osisko sampling, which was done just north of the property boundary
Victory is advancing the work program in anticipation of a drill program as early as Fall 2020

"Exploration on the property, carried out from 2009 to 2012, consisted of widely spaced prospecting traverses and limited soil sampling. Significant mineralization was found just north of the property boundary by Osisko," said Victory geologist, Mr. Helgi Sigurgeirson. "Anomalous samples from this local returned from 0.18 to 4.75 grams per tonne Au. The area of the property immediately to the southwest (i.e. along the usual trend of mineralization in the area) has had little exploration. Alteration and minor mineralization were located in other areas of the property as well, but the preliminary nature of the work has left much of the ground incompletely evaluated; leading to the recommendation for Victory's work program of mapping, soil sampling and magnetometer surveying."

The Hammond Reef South Project adjoins Agnico Eagle's Hammond Reef Project, which contains an open pit measured and indicated mineral resource of 208 million tonnes grading 0.67 gpt gold (containing 4.5 million ounces of gold), as well as open pit inferred mineral resource of 0.5 million tonnes grading 0.74 gpt gold (containing 12,000 ounces of gold), using a cut-off grade of 0.32 gpt, as of 31 December 2019 (see Agnico Eagle news release dated 13 February 2020 for further information). An Amended Environmental Assessment was submitted in January 2018 and the project subsequently received environmental approval from both Federal and Provincial agencies (see notice of approval dated 16 May 2019 on Agnico Eagle's website).

Scientific and technical information contained in this press release was reviewed and approved by Mr. Helgi Sigurgeirson, Victory geologist, and a "qualified person" under NI 43-101.

For further information, please contact:

Ivy Lu
Investor Relations
David Lane
President
Telephone: +1 (236) 317 2822
E-mail: IR@victoryresourcescorp.com

About Victory Resources Corporation

VICTORY RESOURCES CORPORATION (CSE: VR) is a publicly traded diversified investment corporation with mineral interests in North America. The company is also currently seeking other exploration opportunities, preferably in Canada.

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 release.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

SOURCE: Victory Resources Corporation

ReleaseID: 601259

ASHEVILLE, NC / ACCESSWIRE / August 12, 2020 / With so many people affected by financial crisis and the COVID-19 pandemic, it is difficult to say how investors can put extra money aside. However, there may be one necessary area in which investors might still want to put aside money: saving for long-term education. A Self-Directed Coverdell Savings Account is one vehicle through which investors can set aside that money, and according to a recent post at American IRA, there may be some ways investors can view this type of account during a crisis to better leverage this account.

For example, the post notes that the Self-Directed Coverdell Savings Account that contributions are not deductible. This means that after-tax dollars go into the Coverdell Savings Account. Typically, investing after-cash dollars means that investors have more options. When the investor needs to take distributions on the money within a Self-Directed Coverdell Savings Account, those distributions are "tax-free to the extent the amount of the distributions doesn't exceed the beneficiary's qualified education expenses," according to the IRS website.

The Self-Directed Coverdell Savings Account, according to the post, may not be the first priority for investors who have to suddenly think about how to make up for a sudden loss in income. This is particularly true because the Self-Directed Coverdell Savings Account uses post-tax money for its contributions. However, the limits on these contributions are relatively low. Investors who are worried about inflation, for example, may be able to put aside money into one of these accounts and have more confidence that when the time comes, there will be money present in the account to handle a wide variety of education expenses, including room and board.

"People need to know all of the options available to them," said Jim Hitt, CEO of American IRA. "The Self-Directed Coverdell Savings Account is one option. It's a powerful option for long-term investors."

For more information on Self-Directed Coverdell Savings Accounts, interested parties can visit the American IRA website at www.AmericanIRA.com. The site contains a dedicated page to such accounts at https://americanira.com/self-directed-coverdell-education-savings-account/. Additionally, media inquiries can be directed to 866-7500-IRA.

About:
American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.

The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $400 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.

As a Self-Directed IRA administrator, they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term "they" refers to American IRA, located in Asheville and Charlotte, NC and Atlanta, GA."

SOURCE: American IRA, LLC

ReleaseID: 599647

SECOND QUARTER 2020 RESULTS

CALGARY, AB / ACCESSWIRE / August 12, 2020 / Valeura Energy Inc. (TSX:VLE, LSE:VLU) ("Valeura" or the "Company"), the upstream natural gas company focused on the Thrace Basin of Turkey, reports its financial and operating results for the three and six month periods ended June 30, 2020.

Highlights from Q2 2020

A safe quarter, with no serious incidents and no reported cases of COVID-19 among Valeura personnel or contractors;
Resumption of normal office work and preparations underway to resume field operations in Q3, as pandemic-related restrictions are eased, but the Company remains vigilant to the COVID-19 situation;
A strong financial position, with net working capital surplus of US$33.2 million at June 30, 2020 (including US$30.5 million cash), and no debt;
Average Q2 2020 production of 561 boe/d which increased to at exit rate of 672 boe/d;
Realised prices unchanged on a Turkish Lira basis, equating to US$6.24/Mcf;
Revenue of US$1.9 million and average operating netbacks of US$18.33 per boe (excluding one-off costs for testing Devepinar-1 from operating costs);
Completion of a thorough desktop study of opportunities in the Company's conventional gas production business, with a development drilling programme expected to commence late 2020/early 2021; and
Extension of Valeura's three exploration licences at Banarli and West Thrace until June 27, 2022, and the engagement of Stellar Energy Advisors Limited with a mandate to secure a partner for the deep tight gas play.

Sean Guest, President and CEO commented:

"I am pleased to report a quarter that demonstrates the resilience of our business. We exited Q2 with our conventional gas production business ramping back up to volumes in the range of 672 Mcf/d, a continuing strong financial position, and fresh extensions to our key exploration licenses.

Despite the challenging circumstances the global oil and gas industry has faced during the last several months, our strategy remains intact and poised to deliver value for shareholders. We are resuming activities to improve the efficiency of our conventional gas business and are focused on increasing production to maximise value. We have a unique opportunity to layer inorganic growth into our strategy and are actively pursuing opportunities to build production growth from new sources. We continue to see our deep tight gas play as a key part of our long-term value story and have started our search for a new partner, while preparing in the background to resume appraisal activities, with new well locations selected, and extensions granted for our key exploration licences."

Financial and Operating Results Summary

Three Months Ended

June 30, 2020

Three Months Ended

March 31, 2020

Six Months Ended

June 30, 2020

Three Months Ended

June 30, 2019

Six Months Ended

June 30, 2019

Financial

(thousands of US$ except share amounts)

Petroleum and natural gas revenues

1,918

2,808

4,726

2,440

5,358

Adjusted funds flow (1)

339

52

391

774

1,115

Net loss from operations

(1,899)

(192)

(2,901)

(1,603)

(3,913)

Exploration and development capital

1,734

1,882

3,616

3,050

7,323

Net working capital surplus

33,231

34,054

33,231

39,825

39,825

Cash

30,469

32,554

30,469

38,536

38,536

Common shares outstanding

Basic

Diluted

86,584,989

94,988,323

86,584,989

94,988,323

86,584,989

94,988,323

86,584,989

92,406,655

86,584,989

92,406,655

Share trading (CDN$)

High

Low

Close

0.44

0.23

0.32

0.65

0.20

0.23

0.65

0.20

0.32

3.16

2.09

2.32

3.99

2.09

2.32

Operations

Production

Crude oil (barrels ("bbl")/d)

18

17

17

–

10

Natural Gas (one thousand cubic feet ("Mcf")/d)

3,260

4,200

3,730

4,202

4,344

boe/d

561

716

639

700

734

Average reference price

Brent ($ per bbl)

BOTAS Reference ($ per Mcf) (2)

29.70

6.37

50.44

7.17

40.24

6.76

–

6.49

66.07

6.79

Average realised price

Crude oil ($ per bbl)

Natural gas ($ per Mcf)

41.65

6.24

65.22

7.08

53.25

6.71

–

6.38

69.56

6.65

Average Operating Netback

($ per boe) (1)

15.27

24.95

20.70

21.34

23.40

Notes:

See the Company's Management's Discussion and Analysis for the three and six months ended June 30, 2020 and 2019 filed on SEDAR for further discussion.

(1) The above table includes non-GAAP measures, which may not be comparable to other companies. Adjusted funds flow is calculated as net income (loss) for the period adjusted for non-cash items in the statement of cash flows. Operating netback is calculated as petroleum and natural gas sales less royalties, production expenses and transportation.

(2) BOTAS regularly posts prices and its Level-2 Wholesale Tariff benchmark is shown herein as a reference price. See the Company's Annual Information Form for the year ended December 31, 2019 (the "AIF") filed on SEDAR for further discussion.

Net petroleum and natural gas sales in Q2 2020 averaged 561 boe/d, approximately 7% higher than the preliminary production figure disclosed in the Company's July 13, 2020 trading update announcement. Q2 production was 20% lower than Q2 2019, and 22% lower than Q1 2020 as a result of reduced customer demand for natural gas due to lower industrial activity caused by the COVID-19 pandemic and Turkish national holidays during the period. Production volumes have since recovered as industrial activity in Turkey normalises, resulting in an exit rate for Q2 of 672 boe/d.

Price realisations in Q2 2020 were effectively unchanged from Q1 2020 on a Turkish Lira basis. When expressed in US dollars this equates to US$6.24/Mcf, which is 2% lower than in Q2 2019, and 12% lower than the first quarter of 2020. Subsequent to the end of the quarter, BOTAS lowered Turkey's natural gas reference price (Turkish lira basis) by 10%, effective July 1, 2020.

Production revenue in Q2 2020 was US$1.9 million, a decrease of 21% relative to Q2 2019, and a decrease of 32% from Q1 2020. The decrease reflects the combined impact of lower production during the quarter and reduced gas price realisations, when expressed in US dollars.

Exploration and development capital spending was US$1.7 million in Q2 2020 comprised primarily of costs associated with drilling two shallow exploration commitment wells, Kuzey Atakoy-4 and Bati Sariyer-1 resulting in spending which was 8% less than the prior quarter.

Valeura's reported average operating netback in Q2 2020 was US$15.27/boe, which reflects the inclusion of one-off costs for production testing of the Devepinar-1 well as an operating expense (a requirement due to the well having associated proved plus probable (2P) reserves). If the one-off costs for testing Devepinar-1 were removed from operating costs, the Q2 2020 average operating netback would have been US$18.33/boe, which is 14% lower than Q2 of 2019, and 27% lower than Q1 2020, largely driven by the reduction in the realised price.

As of June 30, 2020, the Company had a net working capital surplus of US$33.2 million compared to US$34.1 million at March 31, 2020 primarily due to capital expenditure incurred in connection with drilling two shallow exploration commitment wells.

Strategy Update

Valeura is pursuing a three-pronged strategy intended to leverage the Company's assets, financial strength, and differentiated capabilities, toward delivering shareholder value. This strategy is crafted to provide immediate stability through the conventional gas production business, near- and mid-term growth through inorganic opportunities, and exposure to substantial long-term upside through the Company's tight gas play.

Conventional gas production business

Valeura intends to maximise the efficiency and near-term value of its producing conventional gas business through operations focused at converting reserves into production.

The Company's efforts to maintain gas production over the last two years has been both technically and commercially successful. Prior to the impact of COVID-19 related restrictions, Valeura's programme of well workovers and reperforations more than offset natural declines and generated an increase in production. Individual investments have generally delivered payback in the order of a few weeks or months. With most personnel now returning to normal work, the Company will resume this programme starting in Q3 2020 and will also conduct production testing to confirm the commerciality of its two recently drilled exploration wells.

The Company sees potential for further activity as it continues to commercialise its 7.9 million boe of 2P reserves, the majority of which relate to its conventional gas production business, and which were valued at US$66.1 million (net present value of future net revenue discounted at 10% after deducted taxes) as of December 31, 2019 by its external, independent reserves evaluator. During Q2 2020, Valeura completed a thorough desktop study of existing opportunities in its conventional gas business, which confirmed an inventory of 12 higher priority drilling locations that could be drilled in the near term. Several of these near-term locations will be submitted shortly to regulators for permitting, and the Company anticipates resuming an active development drilling programme around the end of 2020 or early 2021, subject to permits and procurement of requisite equipment and services.

Inorganic growth

Valeura is actively seeking opportunities to grow its business through the mergers and acquisitions market.

With an enviable financial position including US$33.2 million in working capital and no debt, the Company has capacity to layer in inorganic growth as part of its forward strategy. Valeura has engaged RBC Capital Markets to support certain deal opportunities and continues to believe conditions are favourable for the current environment to continue generating a flow of potential M&A targets.

In keeping with the management team's international expertise, the Company is focusing on the greater Mediterranean region, and has a strong preference for assets that generate near-term cash flow and provide opportunities for further development to ensure follow-on organic growth.

Deep gas upside

Valeura is continuing to pursue appraisal of its very large deep tight gas play.

Management regards the tight gas play as a core constituent of the Company's portfolio, and a material upside value proposition for shareholders. The government has recently approved extensions to its key exploration licences through to June 27, 2022, which offers ample time for the next phase of appraisal that in turn could position additional licence extensions of four years.

Valeura has a clear vision for how to execute the next phase of appraisal after having now integrated the significant learnings from the drilling and testing of the Inanli-1 and Devepinar-1 wells. The Company has observed that the best reservoir quality in all wells is encountered in the upper few hundred metres of the Kesan Formation. However, the best gas flow results have been achieved deeper in the wells, where the gas is very dry and flows without condensate and minimal water – as seen in the first production test in Inanli-1 at approximately 4,275 metres. The next appraisal wells will target sweet spots which have both of these characteristics; in particular, locations that are closer to the centre of the basin where the high quality reservoir at the top of the Kesan Formation is deeper, and therefore within the dry gas maturity window. Final well locations within this broader area will then focus on regions of more intense natural fracturing, as interpreted on 3D seismic data.

Well locations are currently being prepared for submission to the government for environmental approval to allow for drilling in the first half of 2021, along with joint venture partners.

Valeura intends to farm out a portion of its interest in the deep gas play, and has engaged Stellar Energy Advisors Limited, with a mandate to secure a partner with technical and commercial expertise suited to a tight gas appraisal play of this magnitude. The Company anticipates this process will run from late Q3 through at least Q4 2020. With the addition of a new partner, Valeura will be poised to resume appraisal activities rapidly.

Organisation Structure and COO Retirement

Valuera has adjusted its corporate organisation and reporting structure to enhance the efficiency of its production operations by delegating more autonomy to the in-country team. These changes are intended to free up senior management resources and reduce costs at the corporate centre, while equipping the local team to be nimble and decisive in executing day-to-day operations. This adjustment also creates a distributed organisational model which can be replicated for other potential assets in the future.

In connection with these changes, the Company has appointed a new Turkey Country Manager, and Valeura's Chief Operating Officer ("COO") Peter Sider, has opted to retire. Mr. Sider assumed the role of COO in Q4 2019 in order to ensure smooth ongoing operations during a busy phase of operations, after having previously held other senior roles with the Company. His contribution has led to a safe and reliable performance on both conventional production enhancement activities as well as the technically challenging deep unconventional testing programme. The directors and management team are all greatly appreciative for Mr. Sider's tireless efforts.

Annual Meeting

Valeura will hold an annual and special meeting of shareholders (the "Meeting") today, August 12, 2020 at 09:00 (Calgary time) in the Calgary Petroleum Club, 319-5th Ave. S.W., Calgary, Alberta, Canada. The meeting will include a business update presentation by Sean Guest, President and Chief Executive Officer.

The Company will be following all public health recommendations, including social distancing requirements at the Meeting due to the ongoing COVID-19 pandemic. Physical access will be restricted to registered shareholders and formally appointed proxyholders and any others will not be permitted to attend (including beneficial shareholders that hold their common shares through a broker or other intermediary).

Rather than attending in person, shareholders are strongly encouraged to listen to the Meeting proceedings via live webcast using the following link:

https://produceredition.webcasts.com/starthere.jsp?ei=1341355&tp_key=64b800beb7

For further information, please contact:

Valeura Energy Inc. (General and Investor Enquiries) +1 403 237 7102
Sean Guest, President and CEO
Heather Campbell, CFO
Robin Martin, Investor Relations Manager
Contact@valeuraenergy.com, IR@valeuraenergy.com

Canaccord Genuity Limited (Corporate Broker) +44 (0) 20 7523 8000
Henry Fitzgerald-O'Connor, James Asensio

CAMARCO (Public Relations, Media Adviser) +44 (0) 20 3757 4980
Owen Roberts, Monique Perks, Hugo Liddy, Billy Clegg
Valeura@camarco.co.uk

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SOURCE: Valeura Energy Inc.

ReleaseID: 601294

CONTINUED STRONG PERFORMANCE ACROSS ALL BUSINESS LINES DESPITE COVID-19 WITH AN INCRASE IN GROUP REVENUES OF 12%
IMPORTANT STRATEGIC EXPANSION INTO BUSINESS FIELDS OF GENE THERAPY AND ANTISENSE THERAPY INCLUDING FIRST ALLIANCES
FULL-YEAR 2020 GUIDANCE FOR REVENUES AND ADJUSTED EBITDA CONFIRMED AND INCREASED FOR UNPARTNERED R&D EXPENSES TO APPROX. € 45 M
WEBCAST AND CONFERENCE CALL TODAY AT 02.00 PM CEST

HAMBURG, GERMANY / ACCESSWIRE / August 12, 2020 / Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809) today announced its financial results for the first half-year of 2020.

OVERALL POSITIVE FINANCIAL PERFORMANCE REFLECTING GROWTH ACROSS ALL BUSINESS LINES

Significant Group revenue growth of 12% to € 231.0 m (H1 2019: € 207.1 m)
Revenue growth in both business segments: EVT Execute revenues up 16% to € 228.2 m (H1 2019: € 196.8 m); EVT Innovate revenues up 8% to € 44.6 m (H1 2019: € 41.2 m)
Adjusted Group EBITDA amounting to € 47.3 m (H1 2019: € 58.2 m)
Increased investments in unpartnered R&D of € 21.6 m (H1 2019: € 18.7 m)
Robust liquidity positon of € 275.7 m (31 December 2019: € 320 m)
No material impact by COVID-19 pandemic on overall financial and strategic development so far; slight delays in conclusion of contracts and milestone achievements

CONVINCING OPERATIONAL PROGRESS

Multiple new and extended drug discovery and development agreements
New 5-year contract with the US Environmental Protection Agency
Just – Evotec Biologics strengthens its position: contract with U.S. Department of Defense to develop and manufacture monoclonal antibodies for treatment and/or prevention of COVID-19 (after period-end)
Construction of first J.POD(R) biologics manufacturing facility in Seattle, WA, USA progressing well
Evotec partner Zogenix received marketing approval from FDA for FINTEPLA(R); Evotec as supporting long-term partner will supply commercial API (Active Pharmaceutical Ingredients)
Continued progress in co-owned pipeline, despite certain COVID-19 related delays
New QRbeta initiative based on Evotec's iPSC-based beta cell replacement therapy regained from Sanofi
New BRIDGE ("Autobahn Labs") and equity participations as well as successful follow-on financings

INCREASING EXPANSION OF INFRASTRUCTURE IN MULTIMODALITY

Establishment of new site Evotec GT in Austria, dedicated to gene therapy-based projects; multi-year gene therapy research alliance between Evotec GT and Takeda
Further expansion of Evotec's multimodality platform into Antisense Therapy through cooperation with Secarna Pharmaceuticals

CORPORATE

Virtual Annual General Meeting 2020 approved all proposed agenda items
Election of new Supervisory Board Member Mr Kasim Kutay
Acquisition of "Biopark By Sanofi SAS" in Toulouse making Evotec the full owner of the Toulouse site; rebranding of the site into "Campus Curie Toulouse" (after period-end)

GUIDANCE FOR FULL-YEAR 2020 CONFIRMED WITH REGARD TO REVENUES AND ADJUSTED EBITDA, HIGHER INVESTMENTS IN R&D PLANNED

Unchanged business outlook in terms of revenue and adjusted EBITDA, taking into account currently visible COVID-19 effects
Group Revenues from contracts with customers expected to range from € 440 – 480 m (2019: € 446.4 m)
Adjusted Group EBITDA expected to be in the range of € 100 – 200 m (2019: € 123.1 m)
Due to promising investments in EVT Innovate, increase of guidance for "unpartnered R&D" to approx. € 45 m (before approx. € 40 m)

STRONG FINANCIAL POSITION

Key figures of consolidated income statement & segment information
Evotec SE & subsidiaries – First six months of 2020

In T€

EVT
Execute

EVT
Innovate

Intersegment Eliminations
Transition3)
Evotec Group
H1 2020
Evotec Group
H1 2019

External revenues
177,145
44,626
–
9,218
230,989
207,088

Intersegment revenues
51,047
–
(51,047)
–
–
–

Gross margin in %
24.6
3.4
–
–
23.0
30.8

R&D expenses1)
(2,586)
(31,863)
4,653
–
(29,796)
(29,288)

SG&A expenses
(29,745)
(6,787)
–
–
(36,532)
(29,905)

Other operating
income (expenses), net
8,135
24,045
–
–
32,180
31,348

Operating result
31,988
(13,071)
–
–
18,917
24,036

 
 
 
 
–
 
 

Adjusted EBITDA2)
58,245
(10,977)
–
–
47,268
58,210

1) Thereof unpartnered R&D expenses of € 21.6 m in H1 2020 (H1 2019: € 18.7 m)
2) Before contingent considerations, income from bargain purchase and excluding impairments on goodwill, other intangible and tangible assets as well as the total non-operating result; adjusted for positive exchange rate effects in the amount of € 1.7 m, EBITDA amounts to € 45.6 m
3) Not allocated to segments: Revenues from recharges according IFRS 15

In the first six months of 2020 Evotec continued on its growth path: Group revenues from contracts with customers increased by 12% to € 231.0 m (H1 2019: € 207.1 m) due to a positive performance across all business lines, for the first time added revenues from Just – Evotec Biologics (€ 16.3 m) and despite the anticipated loss of payments of Sanofi for the Toulouse site (€ 7.5 m) from April 2020. Also, favourable exchange rate effects had a positive impact of € 2.4 m.

Thereof, base revenues accounted for € 223.2 m, an increase of 19% over the same period of the previous year (H1 2019: € 188.0 m), while revenues from upfront, milestone and licence payments decreased to € 7.8 m (H1 2019: € 19.1 m).

Due to the significant lower upfront, milestone and license payments as well as the anticipated expiring payments from Sanofi for the Toulouse site from April 2020 onwards, gross margin decreased to 23.0% (H1 2019: 30.8%).

In the first half-year of 2020, Evotec continued to strongly invest into its unpartnered R&D. Thus, the expenses for unpartnered R&D increased to € 21.6 m (H1 2019: € 18.7 m), mainly due to intensified research investments into oncology and platforms such as PanOmics and cell therapy. The lower partnered R&D expenses of € 8.2 m (H1 2019: € 10.6 m) were primarily related to the infectious disease portfolio. Whereas costs of the partnership with Sanofi in this area are predominantly reported as R&D expenses the full reimbursement by Sanofi is recognised under other operating income. Total R&D expenses of € 29.8 m nearly remained stable compared to 2019 (H1 2019: € 29.3 m).

The Group's selling, general and administrative ("SG&A") expenses for the first half-year of 2020 increased by 22% to € 36.5 m (H1 2019: € 29.9 m), which mainly resulted from the overall staff increase and the related costs as well as from transaction and integration cost from equity engagements, the consolidation of Just – Evotec Biologics and the founding of Evotec GT.

Other operating result in the first six months of 2020 amounted to € 32.2 m (H1 2019: € 31.3 m) and was mainly influenced by R&D tax credits as well as recharges of Sanofi for ID Lyon. Due to a change in the tax regulations in Italian legislation, total R&D tax credits grew less as expected compared to prior period.

The operating income decreased to € 18.9 m (H1 2019: € 24.0 m), mainly due to the significantly lower upfront, milestone and licence revenues. Most of the half-year milestones are expected to be only slightly delayed, but not lost.

The lower upfront, milestone and licence revenues also affected the adjusted Group EBITDA which decreased by 19% to € 47.3 m (H1 2019: € 58.2 m). Favourable exchange rate developments had a positive impact of approx. € 1.7 m on the adjusted Group EBITDA.

The net result in the first half-year of 2020 amounted to € 7.3 m (H1 2019: € 10.7 m).

Evotec's liquidity position in the first six months of 2020 continued to remain robust amounting to € 275.7 m (31 December 2019: € 320.0 m). The cash-outflow resulted mainly from the high investments in capex and equity investments.

CONVINCING OPERATIONAL PERFORMANCE IN BOTH BUSINESS SEGMENTS

In the first half of 2020, the EVT Execute segment continued its strong progress of the previous quarters.

Evotec signed multiple new drug discovery and development agreements, e.g. with Boston Pharmaceuticals and Ildong, as well as multiple undisclosed partners and extended or expanded existing long-term agreements (e.g. with Amgen, Takeda). Evotec's wholly-owned US subsidiary Cyprotex was again selected by the US Environmental Protection Agency (EPA) as its preferred service partner for the next five years. The contract is worth up to $ 13 m.

Evotec's fully-owned subsidiary Just – Evotec Biologics had a successful start with the J.POD(R) construction, progressing well, and its first J.POD(R) collaboration with MSD for the development of innovative technologies for the production of biologics of the highest quality. Further multiple new agreements were concluded (e.g. with ABL, Ology). After period-end, Just – Evotec Biologics entered into a partnership with the U.S. Department of Defense to develop and manufacture monoclonal antibodies (mAbs) for treatment and/or prevention of COVID-19. The contract with the DOD values up to $ 18.2 m.

Also, the Evotec Development Business showed very good performance and started strategic initiatives in the first half-year 2020, despite the extraordinary difficult circumstances especially at the Evotec site in Verona. In June 2020, Evotec's long-term partner Zogenix received its marketing approval from FDA for the company's drug FINTEPLA(R) for Dravet & LGS syndromes, securing 7-year orphan drug exclusivity for commercial exploitation in the US. Evotec will continue to be the commercial manufacturing partner of Zogenix.

In its second segment, EVT Innovate, Evotec was also very successful within the first half-year 2020.

Evotec expanded its leading position in iPSC (Induced pluripotent stem cells). After having regained the global development and commercialisation rights of the iPSC-based diabetes cell therapy programme from Sanofi, Evotec intends to move this programme forward within its QRbeta initiative. Multiple other unpartnered iPSC based initiatives showed very good progress in the first half-year 2020 (e.g. Retinal Diseases).

Evotec's long-term partner, Bayer AG, continues to advance its P2X3 antagonist BAY1817080, an asset originating from Evotec. The Phase IIa-PoC study had a positive outcome in patients with refractory chronic cough. Preparations for a Phase-IIb study in patients with refractory chronic cough are ongoing, as are preparations for further studies in additional indications.

Together with Samsara, Biocapital and KCK Evotec initiated "Autobahn Labs", a novel virtual early stage drug discovery incubator (BRIDGE) to design and execute an accelerated path to deliver transformational new therapies. Autobahn Labs already entered into a first-of-a-kind strategic collaboration with UCLA Technology Development Group to identify and advance the most promising areas of research.

Over the first half of 2020, Evotec continued to expand its strategy of generating upside through equity investments, e.g. in leon-nanodrugs, QUANTRO Therapeutics and Exscientia. Other equity participations were made as follow-on investments (e.g. Carrick) or small seed commitments (e.g. Cajal Neuroscience).

IMPORTANT STRATEGIC BUSINESS EXPANSION INTO NEW MODALITIES AND MARKETS

A very important step towards Evotec's long-term vision of becoming a fully modality-agnostic drug discovery and development partnership company was the establishment of the new site Evotec GT in Austria, dedicated to research and development of gene therapy-based projects. In April, Evotec GT signed a long-term research alliance with Takeda covering selected Takeda gene therapy projects for core therapeutic areas like oncology, rare diseases, neuroscience and gastroenterology.

In June 2020, Evotec signed a strategic partnership with Secarna Pharmaceuticals in the field of Antisense Therapy and already initiated a first project with the aim to establish a pipeline of co-owned antisense oligonucleotide therapies.

Already in the first quarter of 2020, Evotec entered into the field of formulation nanotechnology by signing a strategic partnership with the Munich-based company leon-nanodrugs.

CORPORATE

Evotec's shareholders at the virtual Annual General Meeting 2020 approved all proposals the Company's Management put to vote with the required majority. The shareholders elected a new Supervisory Board member: Mr Kasim Kutay, CEO of Novo Holdings A/S, succeeds Dr Michael Shalmi, who resigned from the Board.

In May, Kara Carter, Executive Vice President Infectious Disease of Evotec, was appointed as President of the International Society of the Antiviral Research (ISAR).

Shortly after period-end, on 01 July 2020 Evotec acquired the "Biopark By Sanofi SAS" in Toulouse including all land and buildings of the Sanofi site. The acquisition will allow Evotec to significantly expand its existing capacities at its Toulouse site and to secure further, long-term growth of its Toulouse-based operations. The site will be rebranded into "Campus Curie Toulouse".

FINANCIAL GUIDANCE 2020

At present, the management of Evotec confirms the financial guidance published in the 2019 Annual Report on 26 March 2020 and confirmed in the Q1 Quarterly Statement on 14 May 2020 with regard to revenues and adjusted EBITDA.

Due to additional very promising investments in innovative technology platforms and development candidates in EVT Innovate, Evotec plans to invest even more in research and development. For this reason, the forecast for "unpartnered R&D" has been raised from previously approx. € 40 m to now approx. € 45 m.

 
Guidance 2020
31 December 2019

Group revenues from contracts with customers
€ 440 – 480 m2)
€ 446.4 m

Unpartnered R&D expenses
Approx. € 45 m
€ 37.5 m

Adjusted Group EBITDA1)
€ 100 – 120 m3)
€ 123.1 m

1) EBITDA is defined as earnings before interest, taxes, depreciation, and amortisation of intangibles. Adjusted EBITDA excludes contingent considerations, income from bargain purchase and impairments on goodwill, other intangible and tangible assets as well as the total non-operating result

2) Projections are based on constant 2019 exchange rates

3) Despite increased R&D investments, the expected loss of the Sanofi payments for the Toulouse site after Q1 2020 and significantly ramping up the Just – Evotec Biologics business by investing in and building highly innovative J.POD(R) capacities in the USA

Webcast/Conference Call

The Company is going to hold a conference call to discuss the results as well as to provide an update on its performance. Furthermore, the Management Board will present an outlook for the fiscal year 2020. The conference call will be held in English.

Conference call details
Date: Wednesday, 12 August 2020
Time: 02.00 pm CEST (08.00 am EDT, 01.00 pm BST)

From Germany: +49 69 201 744 220
From France: +33 170 709 502
From Italy: +39 02 3600 6663
From the UK: +44 20 3009 2470
From the USA: +1 877 423 0830
Access Code: 17056811#

A simultaneous slide presentation for participants dialling in via phone is available at https://webcasts.eqs.com/evotec20200812/no-audio

Webcast details
To join the audio webcast and to access the presentation slides you will find a link on our home page www.evotec.com shortly before the event.

A replay of the conference call will be available for seven days after the conference and can be accessed in Europe by dialling +49 69 20 17 44 222 (Germany) or +44 20 3364 5150 (UK) and in the USA by dialling +1 844 307 9362. The access code is 315597273#. The on-demand version of the webcast will be available on our website: https://www.evotec.com/financial-reports.

NOTE
Just – Evotec Biologics (former Just.Bio) was acquired effective July 02, 2019 and was fully consolidated in the Group numbers from the respective date onwards. Furthermore, effective 01 April 2020, Evotec GT started its operations. Hence, numbers for the first half-year 2019 and 2020 are not fully comparable.

ABOUT EVOTEC SE
Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative product approaches with leading pharmaceutical and biotechnology companies, academics, patient advocacy groups and venture capitalists. We operate worldwide and our more than 3,000 employees provide the highest quality stand-alone and integrated drug discovery and development solutions. We cover all activities from target-to-clinic to meet the industry's need for innovation and efficiency in drug discovery and development (EVT Execute). The Company has established a unique position by assembling top-class scientific experts and integrating state-of-the-art technologies as well as substantial experience and expertise in key therapeutic areas including neuronal diseases, diabetes and complications of diabetes, pain and inflammation, oncology, infectious diseases, respiratory diseases, fibrosis, rare diseases and women's health. On this basis, Evotec has built a broad and deep pipeline of approx. 100 co-owned product opportunities at clinical, pre-clinical and discovery stages (EVT Innovate). Evotec has established multiple long-term alliances with partners including Bayer, Boehringer Ingelheim, Bristol-Myers Squibb, CHDI, Novartis, Novo Nordisk, Pfizer, Sanofi, Takeda, UCB and others. For additional information please go to www.evotec.com and follow us on Twitter @Evotec.

FORWARD LOOKING STATEMENTS
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.

Contact Evotec SE:
Gabriele Hansen, SVP Head of Global Communications & Marketing, Phone: +49.(0)40.56081-255, gabriele.hansen@evotec.com

SOURCE: Evotec AG via EQS Newswire

ReleaseID: 601290

VANCOUVER, BC / ACESSWIRE / August 11, 2020 / Doubleview Gold Corp. ("Doubleview") (TSXV:DBG)(OTC PINK:DBLVF)(FRANKFURT:1D4) is pleased to announce it has closed its first tranche of its previously announced non-brokered flow-through and non-flow-through private placement for gross proceeds of $1,074,019.

Under the first tranche, Doubleview has issued a total of 2,310,906 flow-through units (the "FT Units") at a price of $0.33 per flow-through unit for total gross proceeds of $762,599. Each FT Unit consists of one common share issued as a flow-through common share and one half of one non-transferable share purchase warrant (a "Warrant"), with each whole Warrant exercisable at $0.40 per share for a period of two years from the date of issue.

The Company also issued 1,415,545 units (the "Units") at a price of $0.22 per Unit for total proceeds of $311,420. Each Unit consists of one common share and one non-transferable share purchase warrant (a "Warrant"), with each Warrant exercisable at $0.40 per share for a period of two years from the date of issue.

The proceeds of the financing will be used for exploration work on the Hat Project and general administration.

The securities issued under the first tranche will be subject to restrictions on resale for 4 months and a day, pursuant to applicable Canadian securities laws and the rules of the TSX Venture Exchange.

About Doubleview Gold Corp

Doubleview Gold Corp, a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada, and is publicly traded on the TSX Venture Exchange [TSX-V: DBG]. Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. Doubleview's portfolio of strategic properties provides diversification and mitigates investment risk.

On behalf of the Board of Directors,
Farshad Shirvani, President & Chief Executive Officer

For further information please contact:

Doubleview Gold Corp
Vancouver, BC Farshad Shirvani
President & CEO
T: (604) 678-9587
E: corporate@doubleview.ca

To keep up with the current info on Doubleview, be sure to join our Telegram chat room: https://t.me/CasaDoubleview

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Doubleview cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Doubleview's control. Such factors include, among other things: risks and uncertainties relating to Doubleview's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Doubleview undertakes no obligation to publicly update or revise forward-looking information.

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: Doubleview Gold Corp.

ReleaseID: 601286

CALABASAS, CA, / ACCESSWIRE / August 11, 2020 / Unico American Corporation (NASDAQ:UNAM) ("Unico," or the "Company"), announced today that, its Board of Directors authorized a share repurchase program for up to $5 million of its outstanding common stock.

The share repurchase program is effective immediately and replaces the Company's existing share repurchase program. The purchases under the share repurchase program may be made from time to time in the open market, through block trades, 10b5-1 trading plans, privately negotiated transactions or otherwise and in accordance with applicable laws, rules and regulations. The timing and actual number of the shares repurchased will depend on a variety of factors including price, market conditions and corporate and regulatory requirements. The company intends to fund the share repurchases from cash on hand. The share repurchase program does not commit the company to repurchase shares of its common stock and it may be amended, suspended or discontinued at any time.

About Unico:

Headquartered in Calabasas, California, Unico is an insurance holding company whose subsidiaries underwrite and market property and casualty insurance, and transact health insurance, insurance premium financing and membership association services. Unico is publicly owned and traded on the Nasdaq Global Market under the symbol UNAM.

Notice Regarding Forward-Looking Statements. Certain statements in this press release are forward looking statements as defined under the Private Securities Litigation Reform Act of 1995 and the Company intends that such forward-looking statements are subject to safe harbors created thereby. These statements, which may be identified by words or phrases such as "anticipate," "appear," "believe," "estimate," ‘expect," ‘intend," "plan," "predict," "will," "may," "likely," "future," "should," "could," and "would" and similar words, are intended to identify forward-looking statements. In addition, any statements that refer to projections of the Company's future financial performance, trends in its business, or other characterizations of future events or circumstances are forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, risks related to changes in price and volume and the volatility of the Company's common stock; adverse developments affecting either or both of prices and trading of exchange-traded securities, including securities listed on the NASDAQ Stock Exchange; and unexpected or otherwise unplanned or alternative requirements with respect to capital investments of the Company. Additional risks and uncertainties faced by the Company are contained from time to time in the Company's filings with the U.S. Securities and Exchange Commission (SEC), including, but not limited to, the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, and its quarterly reports on Form 10-Q and current reports on Form 8-K, which you may obtain for free on the SEC's website at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company disclaims any intention or obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

CONTACT:

Michael Budnitsky
Chief Financial Officer
818-591-9800

SOURCE: Unico American Corporation

ReleaseID: 601277