Author Archives: Accesswire

iCandy, Animoca Brands in Collaboration With 9Games, a Unit of Alibaba

MELBOURNE, AU / ACCESSWIRE / May 23, 2019 / iCandy Interactive Limited (ASX: ICI) (“iCandy” or the “Company”), developer and publisher of mobile games and digital entertainment for a global audience, is pleased to announce that it has entered into a Game Cooperation Agreement (the “Agreement”) with Animoca Brands Limited, a subsidiary of Animoca Brands Corporation Limited (“Animoca Brands”) and Guangzhou Aijuyou Information Technology Co. Ltd. (“9Games”), a unit of Alibaba digital media and entertainment business group.

The Agreement provides for the publishing, localization and marketing in Mainland China of iCandy’s mobile game ‘Groove Planet’ (the “Game”), which was acquired earlier from Animoca Brands, a substantial shareholder of iCandy. iCandy currently owns the exclusive global rights to the Game while Animoca Brands is the record holder of the ownership rights.

iCandy and Animoca Brands are set to reap the benefits of 9Games’ strong Chinese market presence, knowledge of Chinese consumer behaviour and established distribution channels. 9Games will localise and publish the Game for Android , while iCandy and Animoca Brands will provide the license and relevant technical support. 9Games and iCandy will share the revenue generated by the Game in the Chinese market on commercial terms that are in line with industry practice. Animoca Brands is entitled to a proportion of the revenue received by iCandy.

9Games’ Gaming Ventures

9Games has operated a mobile game distribution business based on its strong distribution capability in the Chinese game market and has set itself the mission to bring quality games from international markets into mainland China. The game distribution business is part of 9Games’ interest in expanding its mobile gaming business.

China possesses the largest gaming market in the world, with mobile games accounting for revenue of USD$ 20 billion in 2018 (Source: Statista). With this figure set to grow further in coming years, the country represents a lucrative market for mobile game developers.

Through this collaboration with 9Games, iCandy and Animoca Brands will benefit from access to Chinese game market through 9Games’ strong regional presence and established distribution channels.

Groove Planet is a unique music game

Groove Planet: a Unique Music Game

Groove Planet is a unique, critically acclaimed game that can be summarized as an alien world-building rhythm game that plays one’s music, analyzes each track using chord recognition technology, and uses the characteristics of each song to provide a unique music-based entertainment experience.

In Groove Planet, gamers build a highly stylized alien planetoid that they develop by skilfully tapping to the beat of music tracks in their own music library or from the Game’s rich soundtrack. Successful play generates musical notes that are used to upgrade the in-game virtual planetoid. Groove Planet gives everyone – regardless of musical ability – greater insight into the music they love while delivering a unique gaming experience.

Outlook

iCandy’s Chairman Mr. Kin W. Lau said, “iCandy is developing strong collaboration in the international gaming market. Groove Planet is an exciting and innovative music game, and we are very pleased with 9Games’ involvement in bringing the game into Mainland China. We also look forward to having more collaboration with 9Games, a unit of Alibaba digital media and entertainment business group.”

For further inquiries contact: ir@icandy.io

About iCandy Interactive

iCandy Interactive Limited (ASX: ICI) is an Australian publicly traded company that has its core business in the development and publishing of mobile games and digital entertainment for a global audience. iCandy Interactive runs a portfolio of mobile games that have been played by over 350 million mobile gamers worldwide and has won multiple awards in various coveted international events. For more info visit www.icandy.io

SOURCE: iCandy Interactive Ltd

ReleaseID: 546471

Eastern Sun Capital II Corp. Subscribes for Units of EA Education Group Inc. Pursuant to Private Placement

TORONTO, ON / ACCESSWIRE / May 23, 2019 / Eastern Sun Capital II Corp. (the “Acquiror”) acquired 8,000,000 units in EA Education Group Inc. (the “Company”) following the closing of the private placement offering at a price of $0.075 per unit (the “Offering”). Each unit comprised of one common share and one common share purchase warrant (“Warrants”) exercisable at $0.10 until May 22, 2024.

Following the closing of the Offering, Mr. YongBiao (“Winfield”) Ding, an insider of the Company and the control person of the Acquiror, along with the Acquiror jointly or in concert, controls approximately 28.62% of the issued and outstanding capital of the Company. In the event that the Acquiror exercises all of its Warrants, Mr. Ding and the Acquiror will jointly or in concert, control approximately 44.51% of the issued and outstanding capital of the Company.

This press release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related
Take-Over Bid and Insider Reporting Issues, which also requires an early warning report to be filed with regulatory authorities in each of the jurisdictions in which the Issuer is a reporting issuer containing information with respect to the foregoing matters (the “Early Warning Report”). A copy of the Early Warning Report will be filed on www.sedar.com.

For further information, please contact:

YongBiao (“Winfield”) Ding

Phone: 416-320-4388

Email: winfield@ding-ca.com

SOURCE: Eastern Sun Capital II Corp.

ReleaseID: 546458

Grupo Clarín Announces First Quarter 2019 Results (1Q19)

BUENOS AIRES, ARGENTINA / ACCESSWIRE / May 23, 2019 / Grupo Clarín S.A. (“Grupo Clarín” or the “Company”) (LSE: GCLA; BCBA: GCLA), the largest media company in Argentina, announced today its first quarter 2019 results. Figures in this report have been prepared in accordance with International Financial Reporting Standards(*) (“IFRS”) as of March 31, 2019, and are stated in Argentine Pesos (“Ps”), unless otherwise indicated.
(*) The Company’s Management has applied IAS 29 in the preparation of these financial statements (inflation adjustment) because Resolution 777/18, issued by the Comisión Nacional de Valores (“CNV”), establishes that the restatement will be applied to the financial statements.

Highlights (1Q19 vs.1Q18):

Total Revenues reached Ps. 4,108.7 million, a decrease of 17.7% compared to 1Q18, mainly due to lower advertising revenues in the Broadcasting and Programming and the Printing and Publishing segments.

Adjusted EBITDA (1) reached Ps. 241.4 million, a decrease of 4.6% compared to 1Q18, mainly driven by a lower EBITDA in the Digital Content and Other segment.

Grupo Clarín’s Adjusted EBITDA Margin (2) was 5.9% in March 2019, compared to 5.1% in 1Q18.

Income for the period totaled Ps. (285.9) million, a decrease compared to Ps. (63.7) million reported in 1Q18. Income for the period attributable to Equity Shareholders amounted Ps (221.1) million in March 2019 from Ps. (35.5) million in 1Q18, a decrease of 522.0%.

FINANCIAL HIGHLIGHTS

(millions of Ps)

1Q19

1Q18

% Ch.

Total Revenues

4,108.7

4,993.5

(17.7%)

Adjusted EBITDA (1)

241.4

253.0

(4.6%)

Adjusted EBITDA Margin (2)

5.9%

5.1%

16.0%

Income for the period

(285.9)

(63.7)

(349.1% )

Attributable to:

Equity Shareholders

(221.1)

(35.5)

(522.0%)

Non-Controlling Interests

(64.8)

(28.1)

(130.4% )

(1) We define Adjusted EBITDA is defined in this report as Total Revenues minus cost of sales (excluding depreciation and amortization) and selling and administrative expenses (excluding depreciation and amortization). We believe that Adjusted EBITDA is a meaningful measure of our performance. It is commonly used to analyze and compare media companies based on operating performance, leverage and liquidity. Nonetheless, Adjusted EBITDA is not a measure of net income or cash flow from operations and should not be considered as an alternative to net income, an indication of our financial performance, an alternative to cash flow from operating activities or a measure of liquidity. Other companies may compute Adjusted EBITDA in a different manner; therefore, Adjusted EBITDA as reported by other companies may not be comparable to Adjusted EBITDA as we report it.
(2) We define Adjusted EBITDA Margin as Adjusted EBITDA over Total Revenues.

For a full version of this earnings release with financial statements, go to: https://www.grupoclarin.com/ir.

CONTACT:

Investor Relations Contacts

In Buenos Aires:
Grupo Clarín S.A.
Agustín Medina Manson
Tel: +54 11 4309 7215
Email: investors@grupoclarin.com

In London:
Jasford IR
Alex Money
Tel: +44 20 3289 5300
E-mail: alex@jasford.com

In New York:
i-advize Corporate Communications
Melanie Carpenter
Tel: +1 212 406 3692
Email: clarin@i-advize.com

SOURCE: Grupo Clarín S.A.

ReleaseID: 546459

EA Education Announces Closing of Its Non-Brokered Private Placement

MARKHAM, ON / ACCESSWIRE / May 23, 2019 / EA Education Group Inc. (the “Company”) (CSE: EA) is pleased to announce that it has closed the private placement of 8,000,000 units of the Company at a price of $0.075 per unit for an aggregate of CAD$600,000 (the “Offering”). Each unit consists of one common share and one common share purchase warrant (“Warrant”). Each Warrant entitles the holder to acquire an additional common share of the Company at $0.10 until May 22, 2024. The Company may accept further subscription up to 10,000,000 units under this Offering until June 6, 2019, when the price protection period expires.

The proceeds of the Offering are for use in the Company’s general working capital and business development. The securities from this Offering are subject to a statutory hold period expiring on September 24, 2019. No finder’s fee has been paid for this Offering.

Eastern Sun Capital II Corp., a related party to an insider, subscribed to the entire Offering (the “Transaction”). All independent directors of the Company approved the Transaction. The Offering was a related party transaction within the meaning of Multilateral Instrument 61-101 (“MI 61-101”) and is exempt from valuation and minority shareholder approval requirements under section 5.5(b) and 5.7 (b) of MI 61-101.

About EA Education Group
Inc.

The Company is a Toronto-based provider of education services. On behalf of the Board of Directors:

“Wen Xu”
Chair of the Board

For further information, please contact:

Wen (Wendy) Xu
Phone: 647-556-3478
Email: wendy.eaedu@gmail.com

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

Certain statements in this news release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. All information and statements which are not historical fact constitute forward-looking information and, in many cases, can be identified by words such as “proposed”, “may”, “will”, “expect”, “intend”, “anticipate”, “believe”, “estimate”, “potential”, or other similar terminology. Forward-looking statements involve risks, assumptions, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of the Company may vary materially from those described in this press release. Accordingly, readers are advised not to place undue reliance on forward looking information. Except as otherwise required by law, the Company does not intend to and assumes no obligation to update or revise forward looking information, whether as a result of new information, plans, events or otherwise.

SOURCE: EA EDUCATION GROUP INC.

ReleaseID: 546447

Orsu Metals Files Maiden Inferred Mineral Resource Technical Report for Its Sergeevskoe Gold Project, Russia

VANCOUVER, BC / ACCESSWIRE / May 23, 2019 / Orsu Metals Corporation (TSX-V: OSU) (“Orsu” or the “Company”) has filed a technical report titled: “NI43-101 Technical Report on the Initial Mineral Resource Estimate for the Sergeevskoe Property, Zabaikalskiy Krai, Russian Federation” dated effective April 15, 2019 (the “Sergeevskoe Report”) to support the maiden resource announced on April 17, 2019.

Highlights:

An Inferred Mineral Resource of 25.09 million tonnes, grading 1.47 g/t gold and containing 1.19 Moz gold at a 0.5 g/t gold cut-off grade, was optimized into an open pit constrained by the license boundary at Sergeevskoe.

The Sergeevskoe Report was independently prepared by Wardell Armstrong International Ltd. (“WAI”) in accordance with the guidelines of the JORC Code (2012)/CIM Definitions Standards and NI 43-101 requirements and is filed on the Company’s profile on www.sedar.com and is also available on the Company’s website.

Based on the results, Orsu considers that there is a strong potential to grow the mineralization envelope at the Sergeevskoe Gold Project beyond that identified in this maiden Mineral Resource estimate. The mineralization is open both along the westward strike and downdip. In particular, there is a strong possibility to identify new mineralization at the western continuation of Klyuchi West and Intermediate domains, and only partly drill-tested mineralization in between these domains and Kozie domain. The western extension of Zone 23 remains open, with some gold mineralization recognized in historical holes and by Orsu during scout sampling at the Sergeeva prospect some 500 m west. Peak Klyuchi requires additional attention as a direct continuation of the Intermediate mineral domain. Kozie domain is also open westward, with gold mineralization intercepted in Orsu’s trench SKZTR17-11.

In addition, there are numerous occurrences of gold mineralization and geochemical/geophysical anomalies not yet tested by Orsu beyond the area of detailed works within the Company’s 7.6 square km license area of the Sergeevskoe project (see press release dated September 21, 2016).

Qualified Person

Alexander Yakubchuk, the Company’s Director of Exploration, Ph.D., MIMMM, a Qualified Person as defined by NI 43-101, has reviewed and approved the exploration information disclosures contained in this press release.

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

Cautionary Statement:

This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

ENDS

For further information, please contact:

Alexander Yakubchuk, Director of Exploration, Orsu Metals Corporation
Doris Meyer, Corporate Secretary, Orsu Metals Corporation
Tel: +1-604-536-2711 ext 6

SOURCE: Orsu Metals Corporation

ReleaseID: 546372

Bright Mountain Media, Inc. Announces Letter of Intent to Acquire S&W Media Group

BOCA RATON, FL / ACCESSWIRE / May 23, 2019 / Bright Mountain Media, Inc. (OTCQB: BMTM), a digital media holding company whose primary focus is connecting brands with consumers as a full advertising services platform, announced today that on April 21, 2019, it entered into a non-binding letter of intent (“LOI”) to acquire Slutzky & Winsham Ltd. d/b/a/ S&W Media Group (“S&W”) in a cash and stock transaction.

Based in Tel Aviv, S&W Media Group is a global, cross-screen video content delivery and monetization platform. S&W enables content owners and media properties alike with the ability to deliver precision based targeted content and advertising with proprietary machine learning data. S&W brings efficiency and value to media owners by enabling them to quickly build and grow their business across all screens around the world. S&W is a trusted and transparent platform verified by white ops, pixelate and powering the most premium direct and programmatic dollars across the globe and at scale.

The closing of the transaction is subject to a number of conditions precedent, including satisfactory due diligence by us and the execution of definitive agreements, including employment agreements with the principal officers and directors of S&W Media.

The purchase price for the transaction is $750,000 cash and up to 13,000,000 shares of our common stock of which 7,000,000 shares are payable at closing. The balance of 6,000,000 shares are payable over three years upon achieving certain forecasts, including the following:

(i) For 2019 – Revenues of $12,430,919 and EBIDTA of $715,193;
(ii) For 2020 – Revenues of $18,192,454 and EBIDTA of $1,932,283; and
(iii) For 2021 – Revenues of $19,404,498 and EBIDTA of $2,010,293.

Kip Speyer, Chairman and CEO of Bright Mountain Media, said, “Recognizing the global presence of S&W Media and its young, creative and aggressive leadership makes this acquisition, if consummated, a major game changer for us. We believe that a global presence with offices in Israel will permit us to accelerate our growth worldwide.” Together with the acquisition of Inform, Inc., if consummated, as previously reported, Mr. Speyer further stated, “We believe that the consolidation of our businesses will permit us to grow exponentially.”

“Today’s announcement with Bright Mountain is very exciting for us. We believe that the combination of our companies will facilitate our ability to take advantage of global opportunities and grow our combined company internally as well as with strategic acquisitions”, said Messrs. Slutzky and Winsham.

The LOI is non-binding and there are no assurances that Bright Mountain Media consummate the proposed acquisition of S&W Media Stockholders and investors should not place undue reliance on the LOI.

ABOUT BRIGHT MOUNTAIN MEDIA

Bright Mountain Media, Inc. (BMTM) is a digital media holding company whose primary focus is connecting brands with consumers as a full advertising services platform. Bright Mountain Media’s assets include an ad network, an ad exchange platform and 25 websites (owned and/or managed) that provide content, services and products. The websites are primarily geared for a young, male audience with several that focus on active, reserve and retired military audiences as well as law enforcement and first responders.

Additional information about Bright Mountain Media can be found at: https://www.brightmountainmedia.com.

Forward-Looking Statements for Bright Mountain Media, Inc.

This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties. Such forward-looking statements can be identified by the use of words such as ”should,” ”may,” ”intends,” ”anticipates,” ”believes,” ”estimates,” ”projects,” ”forecasts,” ”expects,” ”plans,” and ”proposes, ” and similar words. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to expectations of our ability to close the proposed acquisition of Inform, Inc., any the realization of any expected benefits from such transaction if closed. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in Bright Mountain Media, Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 as filed with the Securities and Exchange Commission on April 12, 2019 and our other filings with the SEC. Bright Mountain Media, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law.

PRESS CONTACTS

Bright Mountain Media:
Maria Montiglio
+1 (561) 998-2440
maria@brightmountainmedia.com

SOURCE: Bright Mountain Media, Inc.

ReleaseID: 546360

NeoGenomics To Attend The 16th Annual Craig-Hallum Institutional Investor Conference

FT. MYERS, FL / ACCESWIRE / May 23, 2019 / NeoGenomics, Inc. (NASDAQ: NEO), a leading provider of cancer-focused genetic testing services, today announced that Doug VanOort, Chief Executive Officer, Sharon Virag, Chief Financial Officer, and Bill Bonello, Chief Strategy and Corporate Development Officer, Director of Investor Relations, will be conducting one-on-one meetings with investors at the 16th Annual Craig-Hallum Institutional Investor Conference on Wednesday, May 29, 2019 in Minneapolis, MN.

About NeoGenomics, Inc.

NeoGenomics, Inc. specializes in cancer genetics testing and information services. The Company provides one of the most comprehensive oncology-focused testing menus in the world for physicians to help them diagnose and treat cancer. The Company’s Pharma Services division serves pharmaceutical clients in clinical trials and drug development.

Headquartered in Fort Myers, FL, NeoGenomics operates CAP accredited and CLIA certified laboratories in Ft. Myers and Tampa, Florida; Aliso Viejo, Carlsbad and Fresno California; Houston, Texas; Atlanta, Georgia; Nashville, Tennessee; Rolle, Switzerland, and Singapore. NeoGenomics serves the needs of pathologists, oncologists, academic centers, hospital systems, pharmaceutical firms, integrated service delivery networks, and managed care organizations throughout the United States, and pharmaceutical firms in Europe and Asia. For additional information about NeoGenomics, visit http://neogenomics.com/.

Forward Looking Statements

Certain information contained in this press release constitutes forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995, including the information set forth in the “Full-Year 2019 Financial Outlook”. These forward looking statements involve a number of risks and uncertainties that could cause actual future results to differ materially from those anticipated in the forward-looking statements as the result of the Company’s ability to continue gaining new customers, offer new types of tests, integrate its acquisition of the Genoptix business and otherwise implement its business plan, as well as additional factors discussed under the heading “Risk Factors” and elsewhere in the Company’s Annual Report on Form 10-K filed with the SEC on February 26, 2019, amended by a 10K/A filed with the SEC on May 8, 2019. As a result, this press release should be read in conjunction with the Company’s periodic filings with the SEC. In addition, it is the Company’s practice to make information about the Company available by posting copies of its Company Overview Presentation from time to time on the Investor Relations section of its website at http://ir.neogenomics.com/.

Forward-looking statements represent the Company’s estimates only as of the date such statements are made (unless another date is indicated) and should not be relied upon as representing the Company’s estimates as of any subsequent date. While the Company may elect to update forward-looking statements at some point in the future, it specifically disclaims any obligation to do so, even if its estimates change.

For further information, please contact:

NeoGenomics, Inc.
William Bonello
Chief Strategy and Corporate Development Officer
Director, Investor Relations
(239)690-4238 (w) (239)284-4314 (m)
bill.bonello@neogenomics.com

SOURCE: NeoGenomics, Inc.

ReleaseID: 546434

Thermon Schedules Fourth Quarter and Full Fiscal 2019 Earnings Conference Call – May 29, 2019

AUSTIN, TX / ACCESSWIRE / May 23, 2019 / Thermon Group Holdings, Inc. (NYSE: THR) (“Thermon”) will issue a press release reporting its consolidated financial results for the fourth quarter and full fiscal year ended March 31, 2019 before the market opens on Wednesday, May 29, 2019. Following the earnings release, members of the senior management team, including Bruce Thames, President and Chief Executive Officer and Jay Peterson, Chief Financial Officer, will host a conference call at 10:00 a.m. (Central Time), which will be simultaneously webcast on Thermon’s investor relations website (http://ir.thermon.com). Investment community professionals interested in participating in the question-and-answer session may access the call by dialing (877) 407-5976 from within the United States/Canada and (412) 902-0031 from outside of the United States/Canada.

Click here for direct access to the Investor Relations calendar and details for the upcoming webcast. A replay will be available on Thermon’s investor relations website after the conclusion of the call.

About Thermon

Through its global network, Thermon provides safe, reliable and mission critical industrial process heating solutions. Thermon specializes in providing complete flow assurance, process heating, temperature maintenance, freeze protection and environmental monitoring solutions. Thermon is headquartered in Austin, Texas. For more information, please visit www.thermon.com.

CONTACT:

Kevin Fox
(512) 690-0600
Investor.Relations@thermon.com

SOURCE: Thermon Group Holdings, Inc.

ReleaseID: 546265

Callitas Health, Inc. Announces Closing of Private Placements

NOT FOR ISSUANCE IN THE UNITED STATES

CINCINNATI, OH / ACCESSWIRE / May 23, 2019 / Callitas Health Inc. (CSE: LILY, OTCQB: MPHMF, FWB: T3F3), (the ”Company” or ”Callitas”), an integrated clinical-stage pharmaceutical development and OTC consumer goods marketing company, announced it has completed its recently announced non-brokered private placement. The Company issued 3,856,333 units at a price of $0.075 per unit, for gross proceeds of $289,225. Each unit consists of one common share and one warrant. Each warrant entitles the holder to purchase one additional common share at $0.10 for a period of two years from the date of closing. Securities issued pursuant to this financing are subject to trading restrictions until September 23, 2019.

The proceeds from the offering will be used for general working capital.

Concurrently with closing, the Company also paid finders fees consisting of $4,008 in cash, 239,067 shares and 292,507 two year warrants exercisable at $0.10.

The Company also wishes to update its situation in respect to a replacement auditor. While an audit firm has been identified, that firm has not yet formally accepted the position.

About Callitas Health: Formed in early 2015, Callitas Health Inc. is an integrated clinical-stage pharmaceutical development and OTC consumer goods marketing company, focused on developing innovative technologies for weight management, female sexual health and wellness, cannabis delivery technologies and other proprietary drugs. In addition to its recent acquisitions of C-103, a reformulation of Orlistat, Extrinsa and assets from 40J’s LLC, the Company successfully launched ToConceive in North America as a clinically proven option for couples struggling with the inability to conceive (www.toconceive.com), and is in the research and development and business development process for its other OTC products, CannaMint strips and orphan drug technologies. For more information visit www.callitas.com.

Contacts:
Callitas Health:
James Thompson, CEO, or
Callitas Investor Relations
Phone: +1 (859) 868-3131

TraDigitalIR:
Investor Relations – Kevin McGrath, Managing Director
Phone: +1 (646) 418-7002

Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words ”anticipate”, ”continue”, ”estimate”, ”expect”, ”may”, ”will”, ”project”, ”should”, ”believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements with respect to the regulatory approval and the commercialization of the rights to the Company’s biomedical & drug technologies. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com and the Company’s filings to the CSE at www.thecse.com. Such risk factors may cause the inability of the Company to successfully commercialize any of its biomedical technologies.

Notice regarding investigational devices: CannaMint Strips, C-103 and Extrinsa are investigational drugs or devices and are not currently available outside of approved clinical trials. Claims regarding the safety and efficacy of these devices have not been evaluated by Health Canada, the U.S. Food and Drug Administration, or any other international regulatory body. Neither the Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release that are not strictly historical are ”forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements.

SOURCE: Callitas Health Inc.

ReleaseID: 546421

24/7 Market News: CBD Market Expected to Reach $22 Billion

NEW YORK, NY / ACCESSWIRE / May 23, 2019 / When any company that creates a new niche and grows its revenues by 500%, from $4.1 billion to nearly $23 billion in just 15 years, it’s probably wise to even listen to analyst speculation about that company. In this case, Cowan published a 100-page CBD market analysis, in which analyst, Andrew Charles, stated, “Should the regulation of CBD oil as an additive to food/beverage change or craft/independent coffee shops find a way to comply with the existing regulation, we could envision Starbucks ultimately piloting the ingredient.”

When interviewed about the subject, on the Jim Cramer, on CNBC’s “Squawk on the Street”, Starbucks’ CEO, Kevin Johnson, stated that “right now it is all about Nitro”. However, when pressed by Cramer, who surely understands that this burgeoning market will grow to $22 billion even quicker than Starbucks, Johnson responded, “we are mindful of the trends, we’re mindful of how — I’ll say CBD oils and CBD is viewed as a health and wellness. And so, you know, we’re going to keep watching this. But right now, not on the road map.”

Celebrity branded CBD products are leading the way and the same is true for CBD drinks, with Willie Nelson branded CBD coffee and New Age Beverages’ Bob Marley linked line of beverages.

As the name suggests, Iconic Brands’ (OTCQB: ICNB) model is focused on creating celebrity branded drinks, like its Bellissima Prosecco organic wine with Christy Brinkley, so its recent 51% acquisition of Green Grow Farms allows Iconic to meld its strengths with the Hemp and CBD celebrity branding megatrend.

The company plans to utilize its Hempology division to create CBD infused beverages in a celebrity market that allowed George Clooney to sell his Casamigos Tequila for $1 billion and Dan Aykroyd to hit the 20 million bottles sold milestone, with his Crystal Head Vodka brand.

The CDB drink industry, naturally lends itself to activist celebrity endorsements, which can create dividends for shareholders, as we saw with Nike, when they promoted Collin Kaepernick. Despite the initial backlash, Nike added $6 billion in market cap from the move.

Iconic Brands already has the distribution in place and proven relationships to cultivate a new brand in this space and, based on past performance, should be able to quickly capitalize on the hemp based drink trend, opening the younger demographic door and expanding their generational footprint.

Some of the major liquor companies jumping into the CDB and hemp space include Heineken, which launched a line of Canna beverages, Molson Coors Brewing’s Hydropothecary joint venture, Aurora Cannabis’ Alcanna, Canada’s largest liquor retailer, agreement and of course the multi-billion dollar investment by industry leading Constellation Brands into Canopy Growth set the bar. The trend is clear as this multi-billion dollar industry develops.

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About 24/7 Market News

As a pioneer in digital financial market media, 24/7 Market News (24/7MN) is dedicated to the swift distribution of financial market news and information. 24/7 MN provides comprehensive corporate communications resources and tools to engage the investment community.

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24/7 Market News (24/7MN) is a third party publisher and news dissemination service provider that produces regular sponsored and non-sponsored reports, articles, stock market blogs, and newsletters covering equities listed on the NYSE, NASDAQ and micro-cap exchanges. 24/7MN holds no investment licenses and is NOT a financial advisory firm, investment adviser, analyst, or broker-dealer and does not undertake any activities that would require such registration. 24/7MN’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.

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24/7 Market News
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SOURCE: 24/7 Market News

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