EDMONTON, AB / ACCESSWIRE / November 25, 2020 / OneSoft Solutions Inc. (the "Company" or "OneSoft") (TSXV:OSS)(OTCQB:OSSIF), a North American developer of cloud-based business solutions, is pleased to announce its financial results for the financial quarter ended September 30, 2020 ("Q3 2020"). Please refer to the interim unaudited condensed Consolidated Financial Statements and Management's Discussion and Analysis ("MD&A") for the three and nine months ended September 30, 2020 filed on SEDAR at www.sedar.com for more information.

FINANCIAL SUMMARY FOR Q3 ENDED SEPTEMBER 30, 2020

The following table summarizes the quarter ended September 30, 2020, compared to September 30, 2019:

 
Three months ended
 
 
Nine months ended
 

(in C$,000, per share in C$)

 
Sept 30,
2020
 
 
Sept 30,
2019
 
 
Sept 30,
2020
 
 
Sept 30,
2019
 

 
$
 
 
$
 
 
$
 
 
$
 

Revenue

 
 
795
 
 
 
770
 
 
 
3,090
 
 
 
2,072
 

Gross profit

 
 
589
 
 
 
582
 
 
 
2,359
 
 
 
1,628
 

Net loss

 
 
(999
)
 
 
(664
)
 
 
(2,317
)
 
 
(2,481
)

Exchange gain (loss) on translation of foreign operations

 
 
3
 
 
 
(5
)
 
 
(18
)
 
 
13
 

Comprehensive loss

 
 
(996
)
 
 
(669
)
 
 
(2,335
)
 
 
(2,468
)

Weighted average common shares outstanding – basic and fully diluted (000)'s

 
 
114,975
 
 
 
112,539
 
 
 
114,246
 
 
 
107,727
 

Net loss per share

 
 
(0.01
)
 
 
(0.01
)
 
 
(0.02
)
 
 
(0.02
)

Adjusted EBITDA

 
 
(815
)
 
 
(475
)
 
 
(1,614
)
 
 
(1,690
)

Q3 2020 FINANCIAL METRICS

Revenue for the quarter ended September 30, 2020 ("Q3 2020") was $24,899 higher than in the same quarter last year (Q3 2019) and $175,528 higher than the quarter ended June 30, 2020, as more new inspection logs were ingested into and analyzed by our Cognitive Integrity ManagementTM ("CIM") software-as-a-service ("SaaS") solution.
The Company reported a Comprehensive loss of $995,525 for the current quarter, compared to a Comprehensive loss of $668,904 for the comparable period in the prior year. The increase is essentially due to having added personnel to accelerate research and development of new software functionality to increase the Company's value proposition and competitive advantage. The Comprehensive loss includes $206,868 non-cash expense ($224,575 in Q3 2019) consisting of amortization, depreciation and stock compensation expense.
At September 30, 2020, cash and short-term investments totaled $8.2 million ($10.5 million at December 31, 2019), working capital was $6.8 million ($8.2 million at December 31, 2019), and the Company has no debt. Assuming customers renew and pay their 2021 contracts with no negative changes and assuming no major changes in its current business strategies and cash consumption, the Company believes it has sufficient cash on hand to fund its business and growth strategies as envisioned.

OPERATIONAL HIGHLIGHTS

Generation of new sales leads, and sales activities were very active in Q3 2020, involving prospective customers in the U.S.A., South and Central America, and Australia. Our sales process is complex, as the disruption of legacy processes requires multiple approvals throughout the client organizations and protracts finalization of contracts. We commenced several new Production Trial projects in the quarter, which we anticipate will result in new commercial contracts for CIM use in the future. The Company continued to develop new functionality to incorporate data collected by various integrity and inspection methods for both piggable and non-piggable pipelines. We released the first of these new functions for private preview use on September 8, 2020, creating the ability to analyze and align additional data sets used in Direct Assessment ("DA") pipeline integrity methodologies. DA analysis is used for non-piggable pipelines, which represents the larger portion of pipelines in the U.S.A. DA functionality is expected to increase CIM utilization, and thereby future revenue growth.
Included in the Q3 2020 revenue was $43,292 from the completion of CIM test use cases involving customers' own data, including one completed in Australia, versus $nil in each of the prior 2 quarters.
The Company continued to investigate several OneBridge Innovation Lab projects during the quarter, including research and development of prototype products and joint ventures with clients and synergistic industry participants. Management anticipates that some of these efforts may materialize in the near-term.
In response to feedback from some prospective customers and reseller partners, the Company commenced development of an additional "pay as you go" pricing ("PAYG") model in Q3 that will be deployed in Q4. The PAYG model is priced higher than multi-year SaaS user agreements and includes a clickthrough user agreement rather than a signed contractual agreement. The PAYG pricing model is scalable for use for an individual integrity management project or for enterprise-wide use for all pipeline assets, making it advantageous for certain prospective customers who prefer to ease into CIM use to further validate CIM's capability beyond what they learn in Production Trial scenarios, including in some cases to assess CIM functionality for the most problematic pipeline segments.
On October 14, 2020, OneBridge Solutions Inc. announced that another North American-based pipeline operator, with unique operating circumstances, entered into a multi-year agreement to adopt CIM to manage its pipeline system. While most CIM usage to date has involved underground pipeline systems, this Client operates a pipeline designed to withstand harsh climatic environments, with segments of insulated pipeline mounted on above-ground pylons. This design creates unique operating challenges in aligning inline inspection data, which do not arise in conventional underground pipelines.

BUSINESS OUTLOOK

Global interest in our SaaS solutions continues to increase, with sales activities currently underway in the U.S.A., Canada, Australia, United Arab Emirates, Brazil, and Argentina. Numerous CIM Production Trials are in various stages of completion, which we anticipate will result in completed sales in future periods. Various business develop initiatives are also underway, with the objectives of recruiting CIM resellers and identifying new potential markets and revenue sources based on our solutions.

Given that the pandemic delayed sales, OneSoft will not achieve 100% year-over-year growth in Fiscal 2020 as was discussed in the Q1 2020 MD&A. Q3 revenue increased over Q3 2019 and Q2 2020 quarters, and we believe we are on track to realize a 50% year-over-year revenue increase in Fiscal 2020 over 2019, despite the business disruption and challenges. We believe the delayed sales may materialize in Fiscal 2021.

We are pleased with the progress being made to advance our technology and solutions and remain confident that our competitive moat continues to increase. Based on certain business development projects conducted in Q3, we have confirmed our belief that certain CIM functionality desired by customers has not been replicated by other leading industry vendors who chose to update their existing legacy systems, rather than design and develop, as we have, a born-in-the-cloud solution using machine learning, data science and cloud computing. Recent projects we have completed with some industry experts provide compelling data that support the high value proposition of using CIM versus other vendor solutions, details of which will be disclosed in upcoming industry white papers.

Given the Company's strong balance sheet with $8.25 million of cash and equivalents, no debt, our current cash burn rate, strong acceptance and validation of our solution by our customers, robust and increasing sales pipeline and potential Innovation Lab business development projects that are being progressed, we believe the Company is well-funded to pursue our business plans without raising additional capital to execute our current business growth plan as envisioned.

ON BEHALF OF THE BOARD OF DIRECTORS
ONESOFT SOLUTIONS INC.

Douglas Thomson
Chair

For more information, please contact

Dwayne Kushniruk, CEO
dkushniruk@onesoft.ca
780-437-4950

Sean Peasgood, Investor Relations
Sean@SophicCapital.com
647-494-7710

Forward-looking Statements

This news release contains forward-looking statements relating to the future operations and profitability of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expects", "believe", "will", "intends", "plans" and similar expressions. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Such forward-looking information is provided to deliver information about management's current expectations and plans relating to the future. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.

In respect of the forward-looking information and statements the Company has placed reliance on certain assumptions that it believes are reasonable at this time, including expectations and assumptions concerning, among other things: the impact of Covid-19 on the business operations of the Company and its current and prospective customers, the availability and cost of labor and services; the efficacy of its software; our interpretation based on various industry information sources regarding the total miles of pipeline in the USA and globally, which segments are piggable; our understanding of metrics, activities and costs regarding evaluation, inspection and maintenance is in alignment with various industry information sources and is reasonably accurate; that counterparties to material agreements will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; that there are no unforeseen material development or other costs related to current growth projects or current operations; the success of growth projects; future operating costs; interest and foreign exchange rates; planned synergies, capital efficiencies and cost-savings; the sufficiency of budgeted capital expenditures in carrying out planned activities; and no changes in applicable tax laws. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to many factors and risks. These include but are not limited to the risks associated with the industries in which the Company operates in general such as: costs and expenses; interest rate and exchange rate fluctuations; competition; ability to access sufficient capital from internal and external sources; and changes in legislation, including but not limited to tax laws.

Readers are cautioned that the foregoing list of factors is not exhaustive. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether because of new information, future events or otherwise, except as expressly required by Canadian securities law.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities within the United States. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act or other laws.

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

SOURCE: OneSoft Solutions Inc.

ReleaseID: 618302

VANCOUVER, BC and TORONTO, ON / ACCESSWIRE / November 25, 2020 / Fury Gold Mines Limited (TSX:FURY)(NYSE American:FURY)("Fury" or the "Company") is pleased to announce that it has commenced the exploration phase of its ongoing 50,000-metre drill program at its 100% owned Eau Claire project located in the Eeyou Istchee Territory in the James Bay region of Quebec. This phase of the drill program is designed to test a one-kilometre (km) down plunge extension of the Eau Claire deposit with the goal of significantly expanding the existing resource (Figure 1).

A Message from Mike Timmins, President & CEO

"We are continually identifying additional targets at the Eau Claire project, revealing increased potential along the deposit trend as our technical team refines these opportunites. The infill drill program has progressed to hole three, following encouraging performance and observations made on the first two holes. We look forward to receiving assay results, which are expected in the new year. The next few quarters will be very exciting for shareholders as we anticipate steady exploration results, demonstrate the potential of the Eau Claire asset package and convert on our initial growth strategies for Fury.

"Further updates on our Homestake Ridge targeting and Committee Bay exploration programs will follow in the coming months as we plan for a considerable year of large-scale exploration and development."

Eau Claire Exploration Drill Program

Approximately 12,000 metres have been allocated to the extension drill program to test a one-kilometre down plunge extension of the Eau Claire deposit. The first holes to be drilled are situated between 500 and 700 metres down plunge from the limit of the existing resource and between 400 and 700 metres down dip from the nearest historical drill hole. This target area is defined by the intersection of the mineralized Eau Claire and Snake Lake structures, as imaged in the recently acquired gradient array induced polarization survey, and provides a similar structural geometry that defines high-grade mineralization at the Eau Claire deposit (Figure 2).

A Message from Michael Henrichsen, SVP, Exploration

"We are excited to begin the exploration phase of our drill program at the Eau Claire project. By taking aggressive step-outs early we are looking to rapidly expand the deposit footprint and move towards a significant resource update. In addition, continued targeting along the 7km deposit trend is providing Fury with opportunities to discover significant new bodies of mineralization as we begin to tap into the geological potential of our land package."

Deposit Trend Targeting Update

Targeting along the deposit trend has focused on integrating Fury's recently acquired gradient array induced polarization data along with a newly inverted 3D magnetic survey, surface geology and surface geochemistry results. A major advancement in the targeting effort shows magnetic gradients imaging major structural breaks where there are numerous occurrences of surface gold mineralization (Figure 3). In addition, the imaged magnetic gradients are largely coincident with interpreted structures imaged from the gradient array induced polarization survey.

One significant target that Fury is advancing to drill stage is at the intersection of the mineralized Eau Claire deposit and the South Tonalite structures (Figure 3). This structural intersection occurs between approximately 300 and 500 metres in depth and has not yet been drilled. It is characterized by the following: 1) actinolite – tourmaline alteration in basalts with associated felsic dykes at the tonalite margin of the Eau Claire deposit structure with surface grab samples up to 2.6 g/t gold; and 2) quartz – tourmaline veining in basalts and sediments with associated felsic dykes along the South Tonalite structure with grab samples up to 7.8 g/t gold.

Additional gradient array induced polarization data collected has highlighted a structural intersection at the eastern margin of the Snake Lake mineralized structure (Figure 2). This zone of structural intersections demonstrates the potential to target high-grade mineralization along the Snake Lake corridor, which has seen limited historical drilling. Fury's technical team is advancing toward defining the potential plunge directions and high-grade target areas of the observed structural intersections.

Figure 1: Illustrates targets that will test a one-kilometre down plunge extension of the Eau Claire deposit. These target areas were derived from structural geometries associated with newly acquired gradient array IP data as well geological and geochemical information obtained up-dip from the target zones.

Figure 2: Illustrates newly defined structural intersections to the north of the Snake Lake mineralized structure as well the convergence of the Eau Claire and South Tonalite structures. Together these structural intersections provide Fury with two new target zones.

Figure 3: Illustrates the results of a newly inverted 3D magnetic survey that demonstrates that numerous major gold bearing structures are coincident with magnetic gradients. This represents a major advancement in targeting as it allows Fury to image these structures and their intersections at depth, as depictd by the dashed red ellipse.

David Rivard, P.Geo, Exploration Manager at Fury, is the Qualified Person who assumes responsibility for the technical disclosures in this press release.

ON BEHALF OF THE BOARD OF DIRECTORS OF FURY GOLD MINES LIMITED

Mike Timmins
President, CEO & Director

For further information on Fury Gold Mines Limited, please contact Natasha Frakes, Manager of Corporate Communications at (778) 729-0600, info@furygoldmines.com or visit www.furygoldmines.com.

About Fury

Fury Gold Mines Limited is a Canadian-focused exploration and development company positioned in three prolific mining regions across the country. Led by a management team and board of directors with proven success in financing and developing mining assets, Fury will aggressively grow and advance its multi-million-ounce gold platform through project development and potential new discoveries. Fury is committed to upholding the highest industry standards for corporate governance, environmental stewardship, community engagement and sustainable mining. For more information on Fury Gold Mines, visit www.furygoldmines.com.

Forward Looking Information and Additional Cautionary Language

This release includes certain statements that may be deemed "forward-looking statements". Forward looking information is information that includes implied future performance and/or forecast information including information relating to the growth plans and future results of Fury, and the timing and results of the drill program at Eau Claire. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different (either positively or negatively) from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers should refer to the risks discussed in the Company's Annual Information Form and MD&A for the year ended December 31, 2019 and subsequent continuous disclosure filings with the Canadian Securities Administrators available at www.sedar.com and the Company's registration statement on Form 40-F filed with the United States Securities and Exchange Commission and available at www.sec.gov.

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

SOURCE: Fury Gold Mines Limited

ReleaseID: 618318

VANCOUVER, BC / ACCESSWIRE / November 25, 2020 / Empress Royalty Corp. ("Empress" or the "Company") is pleased to announce it has acquired a 1% Net Smelter Return ("NSR") royalty on production from the Pinos gold and silver project ("Pinos" or "the Project") owned by Candelaria Mining Corp. ("Candelaria") (CAND).

"We are pleased to announce Empress has completed its first near-term cash producing investment with the NSR royalty on Candelaria's Pinos project in Mexico," stated Alexandra Woodyer Sherron, CEO and President of Empress. "We are delighted to be part of Candelaria's transition from developer to producer. This is the first investment in a Mexican royalty which was originated following the strategic alliance between Empress and Accendo Banco."

THE INVESTMENT & TRANSACTION

On November 24, 2020, Empress completed the acquisition of a combined 1% NSR royalty on Pinos for an aggregate consideration of US$1,500,000. The acquisition was a combination of a newly created 0.5% NSR royalty on the Pinos project from Candelaria for consideration of US$750,000 and the purchase of an additional 0.5% NSR royalty on the Project from an existing royalty holder on the same terms and conditions. Empress' royalties create a direct real property interest in the Project, that shall continue in perpetuity and registered against title.

THE PROJECT

The Pinos project, 100% owned by Candelaria, is located in the high-grade historical gold and silver district of the Zacatecas mining belt in north-central Mexico, just 67 kilometers northwest of San Luis Potosi. Zacatecas state, the second largest gold producing district in the country after Sonora, is a stable, mining-friendly state that includes Newmont Mining's Peñasquito mine and Capstone Mining's Cozamin mine. Pinos has excellent infrastructure with paved roads to the entry of the mine and electricity on-site.

The Pinos project consists of 29 concessions comprising 3,816 hectares which is roughly 17 kilometers worth of veins containing gold and silver. The veins have been mined historically to a depth of only 180 meters, due to reaching the water table, but mineralization has been shown to continue at depth.

The Pinos mining district dates back to the 17th century. It was one of two bonanza gold districts discovered by the Spanish. Towards the end of the 19th century, Cornish miners revived the district and continued mining throughout the Dorada or "Golden" era. Zacatecana Mining Company and Pachuca Mining Company then took over the project and operated in the district between 1920 and 1940.

Historical records indicate over 800,000 ounces of gold have been produced from the Pinos district with average grades of 30 to 50 gold g/t from 33 shafts located throughout the district. Candelaria currently has Indicated resource of 175,697 tonnes at a grade of 4.7 grams per tonne of gold equivalent estimated to contain 26,358 ounces of gold equivalent and the Inferred resource a further 529,267 tonnes at a grade of 4.6 grams per tonne gold equivalent estimated to contain 56,146 ounces of gold equivalent. The 2018 Preliminary Economic Assessment ("PEA") plans for average yearly production of ~12,700 ounces gold equivalent for a life of mine of seven years with potential for growth, at both depth and along strike, and it's estimated that 80% of the district has yet to be explored.

Pinos has all permits in-place for production and is currently being moved towards construction under its PEA and will begin construction of a 200 tonnes-per-day ("tpd") mining operation with a path to ramp-up to 400 tpd within two years of initial production.

As the final step to funding construction, on June 24, 2020, Candelaria reported it had closed a US$9.0 million medium term loan facility ("Facility") with Accendo Banco, S.A. ("Accendo Banco"). Funds advanced under the Facility will be used for financing construction of the Pinos project.

Further information on the Pinos project can be found in Candelaria's "NI 43-101 Preliminary Economic Assessment Study for the Pinos Project Zacatecas Mexico" (the "Pinos Technical Report") titled authored by Jose Antonio Olmedo, Geol. Eng., M.Sc. and David J. Salari, P. Eng., dated October 16, 2018 and effective September 13, 2018. The Pinos Technical Report was prepared in accordance with NI 43-101 and is available on Candelaria's company profile at www.sedar.com.

PUBLIC LISTING EVENT

Empress has submitted an application to be listed as an investment issuer on the TSX Venture Exchange (the "Exchange"), and the listing is subject to satisfying the Exchange that the Company meets applicable listing requirements and obtaining Exchange approval for the listing.

ABOUT EMPRESS ROYALTY CORP.

Empress Royalty is a new precious metals royalty and streaming company focused on the creation of unique financing solutions for mining companies. Empress has an existing portfolio of 13 gold royalties and is actively focused on finding industry partners with development and production stage projects who require additional non-dilutive capital. The Company has strategic partnerships with Endeavour Financial in London, Terra Capital in Australia and Accendo Banco in Mexico which allow Empress to not only access global investment opportunities but also bring unique mining finance expertise, deal structuring and access to capital markets. Empress is looking forward to continuously creating value for its shareholders through the proven royalty and streaming models.

ON BEHALF OF EMPRESS ROYALTY CORP.

Per: Alexandra Woodyer Sherron, CEO and President

For further information, please visit our website at www.empressroyalty.com or contact Alexandra Woodyer Sherron, CEO and President, by phone at +1.604.331.2080 or email at info@empressroyalty.com.

This news release contains statements about Empress' expectations regarding the Alliance Agreement which are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "believes", "anticipates", "aims to", "plans to" or "intends to" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Although Empress believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include Empress Royalty not being successful in or deciding not to pursue opportunities in the royalties business. The forward-looking statements contained in this news release are made as of the date hereof, and Empress undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law. Readers should not place undue reliance on forward-looking statements or information.

SOURCE: Empress Royalty Corp.

ReleaseID: 618286

DESTIN, FL / ACCESSWIRE / November 25, 2020 / Xtreme Fighting Championships and one of Western Europe's top broadcasters, Arena Sports, have extended their broadcast partnership after the success of XFC 43.

XFC 43 aired live on Nov. 11 on Arena Sports, a network of six channels in Bosnia and Herzegovina, Croatia, Macedonia, Montenegro, Serbia, and Slovenia. After proving to be a knockout for sports fans in the region, the next 12 XFC events will air live on Arena Sports.

XFC President Myron Molotky is excited to see his organization further establish itself as a worldwide force in combat sports. This announcement comes after it was announced Tuesday that XFC 43 will air on ProSieben, the largest broadcaster in Germany.

"Western Europe is one of the biggest hotbeds for combat sports fans in the world, so we're delighted to enter a long-term broadcast partnership with Arena Sports. If you enjoyed XFC 43 on Nov. 11, you're going to be blown away by what we have in store for the future."

About XFC
Xtreme Fighting Championships, Inc. (formerly Duke Mountain Resources, Inc.) is the first publicly traded premier international mixed martial arts ("MMA") organization with offices throughout the United States and South America, trading under the ticker symbol DKMR. Xtreme Fighting Championships ("XFC") is now partnered with NBC Sports in the United States, and has previously been carried on some of the largest open television broadcasters in Latin America – Rede TV! as well as HBO, ESPN, Esportes Interativo, Terra TV (the largest internet portal in the world), and UOL – the largest internet portal in Latin America, and premium cable & satellite television network. The XFC has had over 185 exclusively signed fighters, representing over 35+ countries worldwide with even more growth expected. Boasting the signing of The Next Generation of Male & Female Superstars, the XFC is known for entertaining fans with the most action packed MMA events both on television and in stadium venues. The Next Generation of MMA.

Press Contact:
Jen Wenk, APR
jenwenkpr@gmail.com
208.421.2919

SOURCE: Xtreme Fighting Championships, Inc.

ReleaseID: 618298

SAN JOSE, CA / ACCESSWIRE / November 25, 2020 / Avidbank Holdings, Inc. (the "Company") (OTC PINK:AVBH), a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and individuals primarily in Northern California, announced today that its Board of Directors has authorized a stock repurchase program that enables the Company to repurchase up to five percent (5%) or 307,780 shares of its outstanding common stock. The program has no expiration date.

"We are pleased that our balance sheet and financial performance has put us in a position to invest in our growth and maintain liquidity, while simultaneously providing us an opportunity to repurchase our shares," said Mark Mordell, Chairman and Chief Executive Officer of the Company.

Under the stock repurchase program, the Company may, from time to time, repurchase shares of its outstanding common stock in the open market, in privately-negotiated transactions or otherwise, subject to applicable laws and regulations. The extent to which the Company repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors including market conditions, regulatory requirements, availability of funds, and other relevant considerations, as determined by the Company. The Company may, at its discretion, begin, suspend or terminate repurchases at any time prior to the program's expiration, without any prior notice. Repurchases may also be made pursuant to a trading plan under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions. There is no obligation on the part of the Company to repurchase any shares of its common stock.

About Avidbank

Avidbank Holdings, Inc. (OTC PINK:AVBH), headquartered in San Jose, California, offers innovative financial solutions and services. We specialize in commercial & industrial lending, venture lending, asset-based lending, sponsor finance, real estate construction and commercial real estate lending. Avidbank provides a different approach to banking. We do what we say.

Forward-Looking Statement:

This news release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts, and generally include the words "believes," "plans," "intends," "expects," "opportunity," "anticipates," "targeted," "continue," "remain," "will," "should," "may," or words of similar meaning. While we believe that our forward-looking statements and the assumptions underlying them are reasonably based, such statements and assumptions, are, by their nature subject to risks and uncertainties, and thus could later prove to be inaccurate or incorrect. Accordingly, actual results could materially differ from forward-looking statements for a variety of reasons, including, but not limited to local, regional, national and international economic conditions and events and the impact they may have on us and our customers, and in particular in our market areas; ability to attract deposits and other sources of liquidity; oversupply of property inventory and deterioration in values of California real estate, both residential and commercial; a prolonged slowdown or decline in construction activity; changes in the financial performance and/or condition of our borrowers; changes in the level of non-performing assets and charge-offs; the cost or effect of acquisitions we may make; the effect of changes in laws and regulations (including laws, regulations and judicial decisions concerning financial reform, capital requirements, taxes, banking, securities, employment, executive compensation, insurance, and information security) with which we and our subsidiaries must comply; changes in estimates of future reserve requirements and minimum capital requirements based upon the periodic review thereof under relevant regulatory and accounting requirements; ability to adequately underwrite for our asset based and corporate finance lending business lines; our ability to raise capital; inflation, interest rate, securities market and monetary fluctuations; cyber-security threats including loss of system functionality or theft or loss of data; political instability; acts of war or terrorism, or natural disasters, such as earthquakes, or the effects of a pandemic; destabilization in international economies resulting from the European sovereign debt crisis; the effects of the Tax Cuts and Jobs Act; the timely development and acceptance of new banking products and services and perceived overall value of these products and services by users; changes in consumer spending, borrowing and savings habits; technological changes; the ability to increase market share, retain customers and control expenses; ability to retain and attract key management and personnel; changes in the competitive environment among financial and bank holding companies and other financial service providers; continued volatility in the credit and equity markets and its effect on the general economy; the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters; changes in our organization, management, compensation and benefit plans, and our ability to retain or expand our management team; the costs and effects of legal and regulatory developments including the resolution of legal proceedings or regulatory or other governmental inquiries and the results of regulatory examinations or reviews; our success at managing the risks involved in the foregoing items. We do not undertake, and specifically disclaim any obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law.

CONTACT:

Steve Leen
Executive Vice President and Chief Financial Officer
408-831-5653
sleen@avidbank.com

SOURCE: Avidbank Holdings, Inc.

ReleaseID: 618269

Jennychem has announced that all orders above £30 will qualify for free delivery across the UK, emphasising the need for using cleaning Chemicals amidst the current pandemic.

KENT, UK / ACCESSWIRE / November 25, 2020 / As the UK settles into a second lockdown amid a resurgence of COVID-19, a leading online industrial chemicals and cleaning chemicals store, Jennychem has announced free delivery on all orders £30 and above. A spokesperson for the online store said that demand for cleaning chemicals and PPE was at an all-time high, and most people were purchasing a wide range of anti bacterial and deep cleaning chemicals, often over £90 in value. The new free delivery offer will help people save money, especially on bulk orders.

Jennychem reported a surge in demand for cleaning chemicals early in 2020 when the pandemic first struck the UK. The online store reported that many cleaning chemicals were nearing low stock within the first few weeks. However, the company worked hard to keep up with demand as they manufacture 99% of the products they stock. That being said, the Jennychem was quoted as saying that owing to demand, prices are fluctuating, which is why people are urged to buy in bulk, which saves them from times when prices sharply increase owing to increased demand.

It is expected that demand for cleaning chemicals will increase with the present lockdown now being strictly enforced across the UK. However, thanks to Jennychem's free delivery and stock levels, it is possible for people to buy the chemicals they need without having to leave their homes.

Readers can browse through Jennychem's existing inventory of industrial chemical and regular cleaning chemicals here https://www.jennychem.com

When addressing supply issues of other online retailers, Jennychem's spokesperson said, "We are one of the few online retailers who manufacture our own products and are well stocked with just about every household and business chemical you will need. That's because we acted early on, and our supply chain is working overtime to ensure that stocks don't deplete unexpectedly."

When asked how the company can offer free delivery when others are charging more than ever before, Jennychem's spokesperson said, "The lockdown has made delivering items challenging. The price of delivery has also gone up. However, we're working with our partners to reduce the price of delivery, and that translates to free delivery for our customers who want to buy in bulk."

About the Company:

Jennychem is UK's leading online chemical manufacturer with a large selection of household and industrial chemicals for sale. Started in 1985, and despite being a growing family-owned business, the online store also has a sizeable inventory of COVID-19 specific sanitisation products for home and business owners at competitive prices.

Media Contact

Name: Reece
Company: Jennychem
Address: Street: Sortmill Rd, Snodland ME6 5UA, United Kingdom
Email: marketing@jennychem.com
Website: https://www.jennychem.com/

SOURCE: Jennychem

ReleaseID: 618340

NASHVILLE, TN / ACCESSWIRE / November 25, 2020 / Right now, in Nashville, Tennessee, one man is revolutionizing the city's nightlife scene and is on track to change the way fast money operates in cities nationwide. Rob Alverson is the founder of Mad Money ATMs, a company that provides Nashville businesses with ATMs at no charge to them. With the hope of expansion soon, Alverson is not only working to grow his own business but is also providing opportunities for growth to businesses all throughout the city of Nashville.

With Mad Money ATMs, businesses in Nashville are able to provide the option of an ATM to their customers without spending a dime. The process of these ATMs is set up so that people who use the ATM will also pay a small surcharge that goes to Mad Money ATMs. Alverson explained the company's process with the following example: "It's essentially recycling cash. Someone withdraws $20 from a machine and that $20 along with the surcharge fee gets sent to [Mad Money]," explains Alverson. The profits received by Alverson's company, then, is what is used to maintain already existing machines and keep up with the increased demand for new businesses.

Not only does Alverson enjoy the success he has been seeing with this company, but he also enjoys the value he can provide to other businesses. "Having an ATM in a business can allow them to go cash only or simply increase their foot traffic by having a machine," shared Alverson. "Also, I love the idea of passive income, essentially having our machines do the work for us." Operating in areas that see a high volume of people, Alverson's machines are usually found in bars and restaurants throughout Nashville's nightlife, but they are also found at gas stations, barbershops, and other small businesses.

Rob Alverson grew up in the city of Nashville and has had an affection for the city since he moved from Detroit as a child. With a knack for entrepreneurship, Alverson has pursued many different entrepreneurial ventures in his life to this point and, through trial and error, found success with Mad Money ATMs at age 25. "Be patient and consistent and understand it doesn't happen overnight. Step outside your comfort zone." These were the tips Alverson shared for how he stayed determined and dedicated to his career goals, but also what he recommends other aspiring entrepreneurs do.

Currently in the middle of the company's most successful year-to-date – during a global pandemic nonetheless – Alverson is expecting even better revenue in 2021 along with potential expansion outside of Nashville. Three years into his venture with Mad Money ATMs, Alverson has overcome rejection and his own self-doubt and replaced the negative energies in his life with a strong support system and a clear vision. Now, the young entrepreneur is poised to revolutionize small business nightlife nationwide.

Learn more about Mad Money ATMs here, and follow the brain behind the company, Rob Alverson, on Instagram.

CONTACT:
Email: info@lostboyentco.com

SOURCE: Lost Boy Entertainment

ReleaseID: 618253

ARCOLOGY NETWORK ACHIEVES MAJOR TECHNICAL MILESTONES TOWARD POTENTIAL COIN OFFERING

VANCOUVER, BC / ACCESSWIRE / November 25, 2020 / Codebase Ventures Inc. ("Codebase" or the "Company") (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is excited to announce that the Company's holding, Arcology, a cluster-computing powered AI blockchain ecosystem with unlimited scalability, is exploring a potential coin offering, following the results of its first Testnet where the Arcology team achieved major product development milestones.

A coin offering is a natural step to add to the Arcology roadmap based on the success of the first Arcology Testnet. Noting that scalability is single biggest obstacle of blockchain based systems, Arcology demonstrated significant capabilities on this front including:

Highly scalable: With a cluster of commodity computers Arcology has achieved very high results with 33,602 transactions per second (TPS) running complex smart contracts. (The TPS varies depends on number of machines used, the more the faster, which is a unique feature for Arcology. Preliminary results show TPS of 33,602 on a cluster of 12 machines running complex smart contracts, not simple money transfer)

Arcology withstood a very high workload for a prolonged period of time. Arcology has good stability.

The Smart contracts used in the test were written in native Solidity, which is the Ethereum programming language for developer applications on Ethereum network. Arcology has shown excellent compatibility with Ethereum.

"Arcology is designed as a platform for both public and private blockchains," says Arcology Founder and CEO, Mr. Laurent Zhang. Arcology's landscape consists of two independent and standalone platforms named Arcology Network (public) and Arcology Enterprise (private), which based on the same technology core. Arcology Network is a permission-less platform like Bitcoin or Ethereum, while Arcology Enterprise is targeting enterprise users requiring specific privacy features."

Arcology's coins are the native currency of the Arcology network, which mediate all the transactions happening on the platform. The Arcology coins serve some key roles for the network to work properly, including:

Users pay transaction fees for using the platform when the Mainnet is live.

Application developers would deploy their dAPPs on Arcology and earn a profit

Arcology coins would enable the holders to participate in the platform governance

The coin holders are entitled to take a certain percentage out of transaction fees

"As the Arcology team continues to push steadily on the technical side, we are investigating all aspects of a coin offering as a major step in our future," said Mr. Zhang. "Currently, on our roadmap, we are anticipating that the first coin offering would take place prior to the Mainnet going live in the coming months. We are investigating the most favourable approach, and considering all regulatory requirements toward an offering of between 5% – 10% of planned coins to eligible investors in the first coin offering."

For more information on Arcology, please visit the website at https://arcology.network/

About Codebase Ventures Inc.

Codebase Ventures Inc. invests early in great ideas in sectors that have significant upside. We seek the innovators who are establishing tomorrow's standards. We invest early, support those innovators, help take their ideas to market, and work tirelessly to help them realize their vision.

For further information, please contact:

George Tsafalas – Ivy Lu
Investor Relations
Telephone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
E-mail: IR@codebase.ventures

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: Codebase Ventures Inc.

ReleaseID: 618263