Expanding Use of Utility Securitization is Focus of Analysts

NEW YORK, NY / ACCESSWIRE / March 28, 2019 / The Society of Regulatory Utility and Financial Analysts (SURFA) announced that Joseph Fichera will speak at its 51st annual meeting. The meeting will be held on Thursday, April 4-5, 2019 in New Orleans, Louisiana. Attendees include utility regulators, members of the financial community, utility executives and academia. This year’s conference will address ”Charting a Course Through Changing Utility Industry Conditions.” Mr. Fichera will lead a distinguished panel of experts to discuss investor-owned utility securitization.

”Utility securitization” is a complex Wall Street financing tool sometimes called ”ratepayer-backed bonds.” This type of bonds being issued for utility cost recovery are very different from typical utility bonds. They allow electric utilities to raise low-cost funds from investors as an alternative to their traditional bonds and equity. Utility securitization can directly lower the costs to customers and help avoid onerous electricity rate increases.

The SURFA panel will discuss the need for a strong degree of financial and regulatory expertise to ensure that ratepayers will benefit from the lowest financing costs. The securitization process is very different from traditional rate making.

As part of the securitization process, regulators will need to forgo their future regulatory oversight of the special securitization charges to enable the sale of the highest quality bond. However, standard incentives for a utility to minimize customer costs are not present because the securitized bonds are not direct obligations of the sponsoring utility and do not impact the utility’s debt coverage. Credit rating agency concerns play a critical role throughout the legislative, regulatory and securitization financing processes. While utility securitization can provide significant cost savings over traditional forms of recovery, these savings are not automatic.

Since 2001, utilities have raised $31 billion through securitization from private investors. As CEO of Saber Partners, Mr. Fichera has led advisory teams that have participated in 13 global utility securitization bond offerings. They have advised five state regulatory commissions overseeing the raising of $9.02 billion from investors involving 8 utilities.

At a public meeting of the Florida Public Service Commission, the state’s ratepayer representative (Office of the People’s Counsel) described Saber Partners’ work in overseeing a $1.294 billion securitization, as ”without question, instrumental in saving many millions of dollars for the customers in current and future costs through their dogged and expert advocacy to achieve the optimum lowest cost for customers at the outset.”

Today, legislators, regulators, consumers and environmental groups are discussing using securitization for new purposes like:

Paying for utility wildfire costs in California;
Accelerating the conversion of coal plants to clean energy in the West and mid-West;
Repairing hurricane damage to the electrical grid in the Carolinas.

The National Regulatory Research Institute (NRRI) also published an ”Insights” paper in January 2019 on securitization by Mr. Fichera.

Mark Cicchetti, President of SURFA and the Bureau Chief of Finance, Tax and Cost Recovery of the Florida Public Service Commission will moderate the discussion. The panel also includes Steven C. McNeal, Vice President of Finance at Entergy Corporation and James Hempstead, Managing Director, Global Project & Infrastructure Finance of Moody’s investors Services.

SURFA is a nonprofit corporation, founded in 1977 by financial analysts representing a cross-section of the regulatory process. These financial analysts representing government, the financial community, industry and academia founded the National Society of Rate of Return Analysts (NSRRA).

To register for the SURFA conference, click here.

Related Files

For Immediate Release SURFA 4-4-19 Final 4

Additional Links

Saber Partners, LLC

CONTACT:

Ashley Weathersby
Saber Partners, LLC, 212-461-2370
ashley@saberpartners.com

SOURCE: Saber Partners, LLC

ReleaseID: 540488

BURLINGTON, ON / ACCESSWIRE / March 28, 2019 / Memex Inc. (“Memex” or the “Company”) (TSX-V: OEE), a global leader in Industrial Internet of Things (“IIoT”) manufacturing productivity software, is pleased to announce it has finalized loan facilities arrangements with affiliates of G&G Private Capital (“G&G”) (for up to $1.4 million) and Officers of Memex (for up to $100 thousand) (collectively the “Lenders”), for a total of $1.5 million dollars (collectively, the “Loan”). The details of this now finalized Loan agreement were first announced February 26, 2019.

The first tranche of the loan, advanced March 28th, was for $750 thousand ($700 thousand from G&G and $50 thousand from Company Officers). Subsequent drawdowns could become available to the Company in April 2020 provided the Company achieves specific operational milestones related to bookings, revenue and operational performance and would be done in the same ratio between G&G and Company Officers. The proceeds of the Loan will be used by the Company to support ongoing operations and is secured by a first charge general security agreement against Company assets.

As previously announced, outstanding principal on the Loan bears interest at a rate of Royal Bank Prime Rate + 8% per annum payable in cash or, with a 35% premium to the cash price, payable in common shares of the Company (the “Shares”), the Shares being valued at the closing price of the Company’s Shares as traded on the TSX Venture Exchange on the last trading day preceding payment. Drawdown fees of 1.5% of the value of each tranche are payable at the time of drawdown, with a total of $11,250 being paid out already with the first tranche. No repayment of outstanding principal is required until April 2020, and the loan matures March 2022.

In connection with the initial tranche of the Loan, the Company issued the Lenders non-transferable Share purchase warrants (the “Warrants”) received a total of 3.75 million Warrants (3.5 million to G&G) exercisable at $0.05. The number of Warrants to be issued with any subsequent tranches would be equivalent to the number obtained by dividing ¼ (25%) of the drawdown amount by the closing price of the Company’s Shares as traded on the TSX Venture Exchange on the last trading day prior to the drawdown. These Warrants would have an exercise price equivalent to that trading value. Expiry of the Warrants would coincide with the maturity of the Loan.

“G&G’s engagement with Memex comes at a key moment in the company’s development,” said David McPhail, Memex’s CEO. “Operationally, while Memex is executing well on the metrics that matter-bookings, backlog, revenues, margins, and cash flow generation-we believe the share price does not currently reflect the improving trend in results reported in fiscal Q4 and confirmed in fiscal Q1.”

“Having now worked with their leadership team over the past month and developing a more in depth understanding of their business model and positioning within the Industrial Internet of Things (“IIoT”) marketspace G&G Private Capital is excited to be getting involved with Memex at this stage of their development” said Gregory Ellis, G&G Principal.

About G&G Private Capital:

G&G Private Capital Inc. (“G&G”), based in Toronto, Canada is an independent finance and investment company that provides private and public companies with debt and/or equity financing. G&G’s principals are experienced business people and former entrepreneurs focused on the capital and investments needs of high-growth technology companies. G&G works with profitable and near-profitable organizations and aligns itself with the long-term interests of its clients.

Options Grant to Sophic Capital:

As part of its ongoing capital markets advisory services arrangement with Sophic Capital (“Sophic”), on March 27, 2019 the Company granted Sophic 500,000 Stock Compensation Options (“Options”). These Options have an exercise value of $0.05, will vest in equal tranches over a twelve-month period, and expire in March 2022.

About Memex Inc.:

Established in 1992, Memex grew to be an industry leader in Industry Internet of Things (IIoT) through the development of MERLIN Tempus, an award-winning platform that delivers real-time, tangible increases in manufacturing productivity. Memex is on the leading edge of industry trends in computing power, machine connectivity, industry standards, advanced software technology, and manufacturing domain expertise.

Our persistent pursuit of innovative IIoT solutions led to a comprehensive understanding of the challenges manufacturers face. We made it our mission to, “successfully transform factories of today into factories of the future.” As the global leader in Machine to Machine (M2M) connectivity solutions, our hardware and software products create unparalleled visibility at all levels, from “Shop-Floor-to-Top-Floor.”

The MERLIN Tempus Suite provides effective quantification and management of Overall Equipment Effectiveness (OEE) by revealing hidden capacity using real-time objective data. Further, it offers sustainable benefits that enable world-class OEE such as reducing costs, incorporating strategies for continuous LEAN improvement, and boosting bottom-line financial performance. For more information, please visit: www.MemexOEE.com.

For investor inquiries please contact:

Ed Crymble, Chief Financial Officer
905-635-1540
investor.relations@memexOEE.com

David McPhail, President & CEO
905-635-1540
investor.relations@memexOEE.com

Sean Peasgood, Investor Relations
647-977-9264
sean@sophiccapital.com

Forward-Looking Statements

Statements relating to any subsequent drawdowns under the Loan are forward-looking statements. Any subsequent drawdowns will be subject to the Company achieving specific operational milestones primarily related to bookings, revenue and operational performance. There can be no guarantee that the Company will be able to achieve the milestones required for additional drawdowns. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The aforementioned forward-looking statements are made as of the date of this press release and, except as required by applicable securities legislation, MEMEX assumes no obligation to update publicly or revise these forward-looking statements to reflect subsequent information, events, or circumstances.

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.

SOURCE: Memex Inc.

ReleaseID: 540470

NEW YORK, NY / ACCESSWIRE / March 28, 2019 / Ducon Technologies Inc. (”Ducon USA”) announced today that it will place an order to procure certain proprietary equipment and detailed engineering with Ducon Infratechnologies Ltd. (BSE: 534674, NSE: DUCON) (”Ducon Infra”), Thane, India, for its recently announced 2×300 MW FGD order in China. The approximate value of this order will be INR 38cr.

Ducon FGD System Absorber

Ducon Infra acquired the seawater FGD, limestone FGD and Dry FGD technologies from Ducon USA, under a seven-year technology license agreement that ended in 2013. Ducon Infra is the only company in India that has successfully operating seawater and Limestone FGD systems on power plants for more than 8 years. Ducon Infra has a sweater FGD on a 500 MW power plant in Dahanu, Maharashtra since 2007, and a limestone FGD system on a 2x600MW power plant in Udupi, Karnataka since 2009.

If you have any questions or require further information, please feel free to contact:

Ducon Investor Relations:

Ron Kumar
Tel: +1-516-474-3100
Email: rkumar@ducon.com

Disclaimer: This press release contains forward-looking statements which are based on information available to the Company as of the date of this report and are based on management’s current views and assumptions. These forward-looking statements are conditioned upon and also involve a number of known and unknown risks, uncertainties, and other factors that could cause actual results, performance or events to differ materially from those anticipated by these forward-looking statements. Such risks, uncertainties, and other factors may be beyond the Company’s control and may pose a risk to the Company’s operating and financial condition. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

SOURCE: Ducon

ReleaseID: 540473

VANCOUVER, BC / ACCESSWIRE / March 28, 2019 / The Wonderfilm Media Corporation (TSXV: WNDR), (OTC PINK: WDRFF), (FRA: 25Y), (“Wonderfilm” or the “Company”), a technology, media and entertainment company, announced today that it has arranged a non-brokered private placement for gross proceeds of up to $750,000 (the “Offering”). The Offering will consist of the sale of up to 2,142,857 units (the “Units”) at a price of $0.35 per Unit. Each Unit will consist of one common share and one-half of one non-transferable share purchase warrant. Each whole warrant will be exercisable into one additional common share of the Company for a period of 2 years from the date of issue at a price of $0.50 per share.

The Company is proposing to pay a finder’s fee to finders that assist in procuring the proceeds of the Offering. Such Fee shall consist of a cash commission equal to 7% of the total subscription proceeds raised from persons introduced to the Company by the finder, and warrants (the “Finder’s Warrants”) equal to 7% of the number of Units subscribed for by persons introduced to the Company by the finder. Each two Finder’s Warrants will be exercisable to purchase one common share at $0.50 per share for a period of 24 months from closing.

Proceeds of the placement will be used for general working capital.

All securities issued under the Offering will be subject to a 4 month and one day hold period.

The Offering is subject to the acceptance of the TSX Venture Exchange.

ABOUT WONDERFILM MEDIA

Wonderfilm is a leading publicly traded (TSX Venture Exchange) entertainment company with production offices in Los Angeles, corporate offices in Vancouver BC and its Asian distribution office in Seoul, South Korea. Founded by 4 producers, Kirk Shaw, Daniel Grodnik, Jeff Bowler and Bret Saxon, the Company’s core business is producing market-driven independent feature films and quality television series for multi-platform global exploitation. Current productions include the feature films, Moose (starring John Travolta) and Primal (starring Nicolas Cage). Wonderfilm is a producer and distributor only for the projects disclosed. The legal ownership of movie productions are held in a special purpose legal entity held at arm’s length to the Company to facilitate for the qualification of various levels of domestic and foreign government tax credit incentives that are customary in the film and production business.

Neither the TSX Venture Exchange Inc. (“Exchange”) nor its regulation services provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Cautionary Statements

This press release contains forward-looking statements that are subject to substantial risks, uncertainties and assumptions. All statements other than statements of historical fact contained in this press release are forward-looking statements. These statements often include words such as “believe,” “expect,” “target,” “anticipate,” “forecast,” “intend,” “plan,” “projects,” “seek,” “will,” “may” or similar expressions. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Wonderfilm’s control and Wonderfilm’s actual results could well differ materially from those stated or implied in forward-looking statements due to many various factors.

Although Wonderfilm believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward-looking statements. All such reflect the date made only. Wonderfilm undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further details, please see the Company’s documents filed on the System for Electronic Document Analysis and Retrieval at www.sedar.com.

Further Information

For further information, please contact:

Kirk Shaw
The Wonderfilm Media Corporation,
Chief Executive Officer
Telephone: (604) 638-4890
Email: info@wonderfilm.com

Prit Singh
Investor Relations
Telephone: 905-5107636
Email: psingh@thesiscapital.ca

SOURCE: The Wonderfilm Media Corporation

ReleaseID: 540450

VANCOUVER, BC / ACCESSWIRE / March 28, 2019 / GGX GOLD CORP. (TSX.v: GGX) (OTCQB: GGXXF) (the “Company” or “GGX”) After GGX Gold released its high-grade tellurium results the company received numerous enquiries asking for information about Tellurium and its uses.

COD18-67: 129 g/t gold, 1,154 g/t silver and 823 g/t tellurium over 7.28-metre core length.
COD18-70: 107 g/t gold, 880 g/t silver and 640 g/t tellurium over 6.90-metre core length.

Tellurium Facts

Tellurium on list of 35 critical mineral commodities deemed critical to security and prosperity of the United States.
Pending tellurium shortages due to traditional recovery methods becoming obsolete.

Tellurium is a chemical element with symbol Te and atomic number 52. It is a brittle, rare, silver-white metalloid. It is extremely rare in the Earth’s crust, comparable to that of platinum.

The U.S. Geological Survey Fact Sheet, Tellurium —The Bright Future of Solar Energy explains that tellurium’s primary use is for manufacturing films essential to thin film photovoltaic solar cells. When alloyed with other elements such as cadmium, tellurium forms a compound that exhibits enhanced electrical conductivity. A thin film can efficiently absorb sunlight and convert it into electricity.

The past decade has seen an explosive growth in the production of thin film solar panels. According to Global Market Insights, thin film cadmium telluride solar panel production which today accounts for 40% of Tellurium consumption is expected to grow from $8 billion in 2016 to over $30 billion by 2024. At present there are dozens of large-scale solar farms built or underway throughout the world. These massive solar farms mainly utilize advanced thin film cadmium telluride technology. In addition, many corporations, institutions, schools and universities are building solar arrays.

Pictured below is a section of India’s giant Pavagada Solar Park. Covering an area of 13,000 acres and achieving an output of 2,700 Mega Watts, Pavagada is currently the world’s largest solar park.

In addition to its burgeoning use in the solar power industry and its metallurgical applications with copper and stainless steel, Tellurium is finding new uses in the semi-conductor industry for example in the new phase change memory chips developed by Intel.

As the use of Tellurium in thin film solar applications grows, governments and industry have expressed concerns about the supply of tellurium to meet future demand. Most of the world’s tellurium comes from copper refining. However, the United States Geological Survey (USGS) has noted that, due to declining copper grades worldwide, “New copper recovery processes…are being considered for implementation, but these methods do not recover tellurium. As a result, alternative sources for this critical element must be considered.”

David Martin, PGeo, a qualified person as defined by National Instrument 43-101 and consultant for GGX Gold, is responsible for the technical information contained in this news release.

On Behalf of the Board of Directors

Barry Brown, President,
604-488-3900
office@GGXgold.com

Investor Relations:

Mr. Jack Singh, 604-720-6598, ir@GGXgold.com

“We don’t have to do this,
we get to do this”
~The Crew

Forward Looking Statement

This News Release may contain forward-looking statements including but not limited to comments regarding the acquisition of certain mineral claims. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Revolver undertakes no obligation to update such statements, except as required by law.

Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates, including that: the current price of and demand for minerals being targeted by the Company will be sustained or will improve; the Company will be able to obtain required exploration licences and other permits; general business and economic conditions will not change in a material adverse manner; financing will be available if and when needed on reasonable terms; the Company will not experience any material accident; and the Company will be able to identify and acquire additional mineral interests on reasonable terms or at all. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; potential inability to find suitable acquisition opportunities and/or complete the same; and other risks and uncertainties listed in the Company’s public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

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

SOURCE: GGX Gold Corp.

ReleaseID: 540477