Recreation

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Niche Housing Markets Feeling the Effects of Low Inventory

8 August 2017 - 11:49am

MINNEAPOLIS, Aug. 08, 2017 (GLOBE NEWSWIRE) -- Today RE/MAX INTEGRA, Midwest released its 2017 Summer Recreational Properties Report providing insight into the latest trends in the recreational housing markets across Indiana, Minnesota and Wisconsin as the summer buying season reaches its peak. 

In almost every region, buyers are competing for fewer available homes in the recreational market, similar to buyers in the primary home market. There is a surplus of buyers in this post-recession era who are now able to afford to purchase recreational properties. The report, which profiles nine markets in the three Midwest states, identifies several major reasons why inventory is even tighter in 2017:

  • Baby boomers are starting to retire, and they are seeking out homes where they can relax but also have amenities for their children and grandchildren
  • Pre-retirement buyers are getting a head start on their post-retirement plans by purchasing second homes now with plans to move in full time in 2-5 years
  • Young families are looking for an escape from the city, and there is potential for significant rental income when they cannot use the recreational property themselves

“In order for buyers to find a home that fits within their budget for a recreational property, buyers might have to make concessions about size, location or amenities,” said Fiona Petrie, executive vice president and regional director for RE/MAX INTEGRA, Midwest. “We have seen low inventory in the primary home market, and now the recreational home market is no different – prices are escalating, and homes when priced right are selling rapidly – often with multiple offers. However, with the help of an experienced agent, it is possible to find your perfect property and stay within budget.” 

Rental potential, retirement planning and the fear that prices will continue to increase are all factors driving the recreational home market this summer, according to RE/MAX brokers surveyed and interviewed for the 2017 Summer Recreational Properties Report. 

Buyers who are hoping to get a good deal on a recreational property may want to hold off until summer ends. According to the RE/MAX brokers and agents surveyed, buyers can save 5-15 percent by waiting until fall to purchase a recreational property. But brokers and agents in some areas caution that trying to find a recreational property during the non-peak season may be more difficult, since the supply of homes is usually low.     

Click here to view the full 2017 Summer Recreational Properties Report.

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/b6662de9-8365-4d8a-bee4-62cea1588cd2

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/724fcb7c-9e4d-437a-b8e7-294315c3ae77

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/6bf405c0-f052-4bc4-b1a4-a6c39f9424f1

CONTACT: Keri Henke RE/MAX INTEGRA, Midwest 952.405.2493 khenke@remaxintegra.com Rachel Sorvig, APR Bose Public Affairs Group 317.684.5299 rsorvig@bosepublicaffairs.com
Categories: State

Premier Boat Dealership Trusts Dealer Spike for Better Website

8 August 2017 - 8:13am

Portland, OR, Aug. 08, 2017 (GLOBE NEWSWIRE) -- Boating Industry Top 100 Dealer Chatlee Boat & Marine has a lot to celebrate as it lives up to its nickname, “the South’s premier boat dealer.” That starts with the dealership’s celebration of its 50th anniversary this year.

The Sanford, North Carolina-based dealership, originally named Chatlee Sporting Goods, started in 1967 under the ownership of Robert Yow. In the beginning, the dealership carried mainly motorcycles, with only a few boats in stock. As the store grew, the number of marine units began to increase as well.

In the mid-1980s, Yow’s two sons Jeff and Robbie began to take over the business. With recreational, man-made Jordan Lake opening only a few miles away from the dealership, Harris Lake also near, and the Atlantic coast only a few hours away; a marine dealership just made sense. It was a smart move, and the Yow brothers created a strong business model to match. The brothers rebranded the dealership as Chatlee Boat & Marine. They moved quickly to replace each boat that was sold with a new one, and worked hard to build up equity over the years. The Yow brothers both still work at the dealership every day.  

“It’s absolutely still a family-run business,” says marketing manager Scott Knuth. “The cool thing about this dealership is that people don’t just come and go – we have guys who’ve worked here for thirty or forty years.” Chatlee Boat & Marine currently employs about thirty people full-time year-round, increasing to fifty or so with the part-time employees who join the team during the busy summer months.

In addition to family-centered values, Chatlee Boat & Marine’s company culture is centered on the golden rule – “Treat others as you’d like to be treated.” This dealership is not the type to pressure customers into buying or rush them through the process. The Chatlee team is very transparent with customers. “There are no offices or closed doors here,” says General Manager Chris Martin. “The owners are very accessible, just like the rest of the team. We try to make everything right.”

Both Knuth and Martin feel that longevity and a dedication to customer service have allowed Chatlee Boat & Marine to remain a powerful force in the marine industry for fifty years. The dealership’s partnership with Suzuki Marine, established in 2005, also helped accelerate the business.

“When we took Suzuki on, they weren’t very well-known for marine. We helped push their brand to the point that they have now signed on with other dealers and grown themselves,” Martin explains. “That goes for all of our manufacturers – we’ve developed personal relationships that are mutually beneficial.”  

Things were clearly going well for Chatlee Boat & Marine, but about one year prior to the September 2016 launch with Dealer Spike, the team was facing a lot of issues with their web provider.

“We had very limited ability to change things on the site – pictures, information on the homepage, and all that. We started looking at other sites to see what was attention-grabbing and interactive, and Dealer Spike really stood out to us,” Martin says.

The team is very pleased with the new website. In addition to better design and user interface, they can advertise sales specials and boat shows on the homepage and easily add quick updates. This has transformed the site into a tool for sales. “We’ve definitely seen the leads pick up,” says Martin.

Martin and Knuth knew that websites were important before partnering with Dealer Spike, but they had no idea how large of an impact the improved site would have on leads for their dealership. “Our website is vital,” Martin says. “Especially now with people having smartphones and iPads…you’ve got to have a good website to grab the customer. If you don’t, they’ll just pass you right over.” The team has seen a 211% average monthly increase in leads since September.  

“We are lucky to be able to say that some of the largest and most successful dealerships trust us for digital marketing strategy, and Chatlee Boat & Marine is no exception,” says Jay Mason, CEO of Dealer Spike. “These guys have their finger on the pulse of what’s trending in the marine industry, and they’re one of the best. We are glad to be able to help them maintain that status.”  

Although the Chatlee team does not currently utilize additional digital tools like search engine optimization and marketing (SEO and SEM), Martin says they are considering some add-ons as the busy summer months slow down. “We know online marketing isn’t going anywhere,” he says.

With their next boat show coming up August 18-20th in Raleigh, North Carolina, Chatlee Boat & Marine can easily promote the upcoming event on their website and allow prospects to check out inventory online beforehand. Having a well-managed and up-to-date website means that this premier boat dealership misses no opportunities for sales.


About Chatlee Boat & Marine

Chatlee Boat & Marine offers the newest models in a wide variety of top-in-class brands. Family owned and operated in Sanford, North Carolina, the dealership has six indoor showrooms totaling over 71,000 square feet – one of the largest inventories in the Southeast. Chatlee Boat & Marine has over 250 boats in stock at any time, with a boat for every budget.

http://www.chatleeboats.com/

 

About Dealer Spike Marine

Dealer Spike is a world-wide digital advertising company focused on helping dealers increase sales and service profitability through online digital advertising and training. We provide innovative, powerful, distinctive web solutions and tools to thousands of dealers worldwide. Our expertise comes from real-world dealership experience and a passion for listening and responding to our dealers' needs in the marketplace.

 

CONTACT: Press@DealerSpike.com 800.288.5917 x410 www.DealerSpikeMarine.com
Categories: State

Tractor Supply Company Declares Quarterly Dividend

8 August 2017 - 7:00am

BRENTWOOD, Tenn., Aug. 08, 2017 (GLOBE NEWSWIRE) -- Tractor Supply Company (NASDAQ:TSCO), the largest rural lifestyle retail store chain in the United States, today announced that its Board of Directors declared a quarterly cash dividend of $0.27 per share of the Company’s common stock.

The dividend will be paid on September 6, 2017, to stockholders of record as of the close of business on August 21, 2017.

About Tractor Supply Company
Founded in 1938, Tractor Supply Company is the largest rural lifestyle retail store chain in the United States. At July 1, 2017, the Company operated 1,630 Tractor Supply stores in 49 states and an e-commerce website at www.tractorsupply.com.  Tractor Supply stores are focused on supplying the lifestyle needs of recreational farmers and ranchers and others who enjoy the rural lifestyle, as well as tradesmen and small businesses.  Stores are located primarily in towns outlying major metropolitan markets and in rural communities.  The Company offers the following comprehensive selection of merchandise: (1) equine, livestock, pet and small animal products, including items necessary for their health, care, growth and containment; (2) hardware, truck, towing and tool products; (3) seasonal products, including heating, lawn and garden items, power equipment, gifts and toys; (4) work/recreational clothing and footwear; and (5) maintenance products for agricultural and rural use.

Tractor Supply Company also owns and operates Petsense, a small-box pet specialty supply retailer focused on meeting the needs of pet owners, primarily in small and mid-size communities, and offering a variety of pet products and services.  At July 1, 2017, the Company operated 160 Petsense stores in 26 states.  For more information on Petsense, visit www.petsense.com.

CONTACT: Kurt Barton, Chief Financial Officer Christine Skold, Vice President, Investor Relations and Corporate Communications (615) 440-4000 Investors: John Rouleau/Rachel Schacter, ICR Media: Alecia Pulman/Brittany Rae Fraser, ICR (203) 682-8200
Categories: State

General Cannabis Announces 2017 Second Quarter Results

7 August 2017 - 1:42pm

DENVER, Aug. 07, 2017 (GLOBE NEWSWIRE) -- General Cannabis Corp (OTCQB:CANN), the comprehensive national resource to the regulated cannabis industry, today announced financial results for the quarter ended June 30, 2017.

For the three months ended June 30, 2017, we reported our highest quarterly revenues on record of approximately $834,000, representing an increase of 19% in total revenues when compared to the three months ended June 30, 2016.  Total revenues for the six months ended June 30, 2017, increased 11% when compared to the six months ended June 30, 2016. 

  • These increases were driven by record revenues in our Operations segment, Next Big Crop, which had increased revenues of 403% and 239%, respectively, for the three and six months ended June 30, 2017, compared to the same periods for 2016.  As the number of states with regulated marijuana markets have increased, Next Big Crop has found a steady increase in demand for its services.
  • Our Marketing segment, Chiefton, also had record revenues during the three months ended June 30, 2017.   We continue to invest in this segment and are pleased to announce that Bryan Dehaven has rejoined Chiefton as a Managing Director. Chiefton’s growth over the last year has been driven by a strong increase in design services.  We expect to invigorate our own internal Chiefton Supply lines and pursue national growth of both divisions.
  • Offsetting these revenue increases, our Security segment, Iron Protection Group, experienced 31% and 24%, respectively, decreases in revenue during the three and six months ended June 30, 2017 when compared to 2016.  As previously discussed, IPG is impacted by the drop in wholesale cannabis prices in Colorado. As a result, IPG has become highly selective in rebuilding its Colorado client base and, unlike some competitors, does not extend credit to its customers.  While the impacts of this business decision had a negative impact on comparable revenues, over the June quarter we saw stabilization in our Colorado security division and are now seeing increased daily revenues and a broadened client base.  We expect IPG to see significant growth in California in the next year.

“Next Big Crop continues to generate record revenues in 2017,” said Robert Frichtel, Chief Executive Officer of General Cannabis. “With the expanded legalization of medical and recreational cannabis in numerous states, Next Big Crop’s services are in high demand to assist companies submitting applications to acquire licenses, and to provide operational consulting and products.  Chiefton also hit record revenue levels, as our design consulting team gains traction.”

“We are pleased that our diversified model continues to work well,” continued Frichtel.  “Next Big Crop continues to see opportunities nationwide.  We have recently hired a new managing director to drive the apparel side of Chiefton, which we think will dovetail well with our design business.  Iron Protection Group is expanding into California and is broadening the suite of services it provides to clients.”

“While operating expenses have increased year over year, we focused on managing discretionary spending in the second quarter compared to the first quarter,” Frichtel added.  “We will, however, continue to spend on infrastructure and people that will drive future profitability.  We are committed to building the best platform in the regulated cannabis industry and providing our customers with the highest quality services.”

“I am pleased with the performance of each of our operating divisions.  The synergies of the General Cannabis platform are becoming clear and we are poised to leverage our infrastructure in the next wave of national expansion.  Twenty-nine states, the District of Columbia, and the U.S. territories of Guam and Puerto Rico have enacted effective medical marijuana laws. Marijuana is legal and regulated for adults in eight states, and adult possession and limited home cultivation are legal in the District of Columbia.  We expect to take the skill sets we have developed over the past few years and take them to scale quickly.  Our national footprint and increasing expertise position General Cannabis to be the leader in regulated cannabis services.  We remain focused on acquisitions that fit this model”

Our full results can be found at www.generalcann.com/sec-filings/.

Financial Highlights

The following tables summarize our 2017 and 2016 second quarter results:


      Three months  ended June 30,  Percent    2017    2016   Change Segment Revenues    Security $364,306   $531,663   (31)%Marketing  69,535    66,014   5%Operations  365,900    72,801   403%Finance  33,864    31,464   8%   833,605    701,942   19%     Total costs and expenses  2,158,810    1,539,887   40%Operating loss  (1,325,205)   (837,945)  58%     Other (income) expense  (2,791,714)   498,526  Net income (loss) $1,466,509   $(1,336,471)      Income (loss) per share    Basic $0.07   $(0.09) Diluted  (0.05)   (0.09)      Six months  ended June 30,Percent   2017    2016 ChangeSegment Revenues    Security $789,444   $1,039,194   (24)%Marketing  113,822    115,161   (1)%
Operations  583,096    171,866   239%Finance  66,348    67,833   (2)%   1,552,710    1,394,054   11%     Total costs and expenses  5,065,037    3,240,564   56%Operating loss  (3,512,327)   (1,846,510)  90%     Other (income) expense  (7,150,651)   678,193  Net income (loss) $3,638,324   $(2,524,703)      Income (loss) per share    Basic $0.19   $(0.17) Diluted  (0.16)   (0.17)    

The significant change in the “Other (income) expense” category was due almost entirely to non-cash (gains) expenses associated with changes in the fair value of the warrants issued with our new debt.

“I am very pleased with the record revenues in the second quarter and optimistic about continued growth, particularly with Next Big Crop nationwide, Chiefton’s renewed focus on our apparel line, and Iron Protection Group’s expansion into California,” said Michael Feinsod, Executive Chairman of General Cannabis. “Our investment in people and infrastructure is beginning to provide returns. Our breadth of services and goods positions us for continued growth.”

Current Business Trends and 2017 Outlook

  • We estimate the following results for revenue in the third quarter of 2017:
    •  Security Segment should be steady or slightly above second quarter levels, with growth expected once we launch our operations in California.
    •  Marketing Segment should show significant growth over second quarter levels.
    •  Operations Segment should have steady revenues.
  • We expect to make more acquisitions in 2017. We are currently evaluating opportunities in all areas of regulated cannabis. We remain well capitalized and positioned to help businesses expand rapidly.
  • The trend towards state regulated marijuana is accelerating. All of our businesses continue to enjoy significant demand and we are expanding operations into additional states in 2017.
  • We are already working with clients in Arkansas, California, Maryland, Nevada, and Pennsylvania as they respond to new voter mandates. Next Big Crop has the skills and experience to assist operators and investors as they take advantage of regulated cannabis expansion into 29 states.
  • We have hired an experienced managing director to energize our Chiefton apparel business.

About General Cannabis Corp

General Cannabis Corp is the comprehensive national resource for the highest quality service providers available to the regulated cannabis industry. We are a trusted partner to the cultivation, production and retail sides of the cannabis business. We do this through a combination of strong operating divisions such as security, marketing, operational consulting and products, real estate and financing. As a synergistic holding company, our divisions are able to leverage the strengths of each other, as well as a larger balance sheet, to succeed. Our website address is www.generalcann.com.

Forward-looking Statements

This presentation contains forward-looking statements that relate to future events or General Cannabis’ future performance or financial condition. Such statements include statements regarding the opportunity for us to significantly expand our business; statements that we are well-positioned to acquire additional businesses or expand into new markets; statements that we expect to make more acquisitions; statements that we expect continued growth; statements that we are poised to continue relationship-based service; statements that we plan to continue our active business of helping licensed producers; statements regarding our expectation to invigorate our own internal Chiefton Supply lines and pursue national growth of both divisions; statements regarding our expectation that IPG will see significant growth in California in the next year; statements regarding driving the apparel side of Chiefton which we think will dovetail with our design business; statements regarding IPG expanding into California and broadening the suite of services it provides to clients; statements regarding future profitability; statements regarding leveraging our infrastructure in the next wave of national expansion; statements regarding taking the skill sets we have developed over the past few years and scaling quickly; statements regarding the ability of our national footprint and increasing expertise to position General Cannabis to be the leader in regulated cannabis services; our optimism about continued growth; statements regarding accelerating trends in state regulated marijuana; and statements regarding the estimates of results for revenue in the third quarter of 2017, including with respect to the Security Segment, Marketing Segment and Operations Segment

Any statements that are not statements of historical fact, such as the statements above and including statements containing the words “plans,” “anticipates,” “expects” and similar expressions, should also be considered to be forward-looking statements. These forward-looking statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as result of a number of factors, including those described from time to time in General Cannabis’ filings with the Securities and Exchange Commission. General Cannabis undertakes no duty to update any forward-looking statements made herein.

CONTACT: Contact Robert Frichtel CEO, General Cannabis Corp (303) 759-1300
Categories: State

National General Holdings Corp. Announces Dividends on Common and Preferred Stock

7 August 2017 - 1:15pm

NEW YORK, Aug. 07, 2017 (GLOBE NEWSWIRE) -- National General Holdings Corp. (NASDAQ:NGHC) today announced that its Board of Directors approved quarterly dividends on the company's common and preferred stock as follows:

  • A cash dividend on the company's common stock of $0.04 per share.
  • A cash dividend on the company's 7.50% Non-Cumulative Preferred Stock, Series A, in the amount of $0.46875 per share.
  • A cash dividend on the company's 7.50% Non-Cumulative Preferred Stock, Series B, in the amount of $18.75 per share (equivalent to $0.46875 per Depositary Share).
  • A cash dividend on the company's 7.50% Non-Cumulative Preferred Stock, Series C, in the amount of $18.75 per share (equivalent to $0.46875 per Depositary Share).

The dividends on the company’s common and preferred stock will be payable on October 16, 2017 to shareholders of record as of October 1, 2017. 

About National General Holdings Corp.

National General Holdings Corp., headquartered in New York City, is a specialty personal lines insurance holding company. National General traces its roots to 1939, has a financial strength rating of A- (excellent) from A.M. Best, and provides personal and commercial automobile, homeowners, umbrella, recreational vehicle, motorcycle, supplemental health, and other niche insurance products.

CONTACT: Investor Contact Christine Worley Director of Investor Relations Phone: 212-380-9462 Email: Christine.Worley@NGIC.com

Categories: State

Life Clips forms new division, CannabAscenda, to provide global sourcing, supply chain and logistics services to the cannabis industry

7 August 2017 - 8:21am

AVENTURA, Fla., Aug. 07, 2017 (GLOBE NEWSWIRE) -- Life Clips, Inc. (OTCQB:LCLP) (the “Company”) a provider of global sourcing, supply chain, logistics and sales and marketing services, announced today that it has formed a new division, CannabAscenda, to provide global sourcing services to the cannabis industry. The new Company will focus on products and paraphernalia that can be sourced anywhere in the world and provide total logistics solutions and sales and marketing services.

Commenting on the formation of CannabAscenda, Huey Long, CEO of LifeClips stated: “with the launch of our new business model and the recent acquisition of Ascenda, we have a natural platform to evolve into a global sourcing provider for many business lines and products. With the rapid growth and proliferation of medicinal and recreational cannabis, we can immediately source and provide higher quality and more cost effective products and paraphernalia than those currently on the market. Our global logistics solutions specialize in end to end delivery in highly regulated industries and our multi-channel sales and marketing team are experts in getting these products into the consumer’s hands.”

The Company will focus on providing the industry with sourcing and logistics solutions and sales and marketing solutions for products and paraphernalia only. The Company does not currently intend to grow, distribute or sell hemp.

Safe Harbor Statement

In addition to statements of current and historical fact, this Press Release contains forward-looking statements. The words "forecast," "will," "intend," "anticipate," "project," "expect," "should," "believe" and similar expressions are intended to identify forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained in this Press Release, we caution you that these statements are based on a combination of facts and factors currently known by Life Clips and its projections of the future, about which it cannot be certain. These forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors, including those discussed in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Life Clips' annual report on Form 10-Q and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission (the "SEC"), as well as matters discussed in Life Clips' financial statements and related notes and other filings with the SEC, which may cause its actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Accordingly, all forward-looking statements should be evaluated with an understanding of their inherent uncertainty. Except as required by law, Life Clips assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. All distribution agreements call for minimum quarterly quotas. There is a risk that the distributor will not meet these quarterly quotas. In the event the quotas are not met the agreements are in breech which could void the agreement. Therefore the dollar volumes may not be attained.

CONTACT: CONTACT INFORMATION: For Business, Marketing and Sales Huey Long Chief Executive Officer info@lifeclips.com Life Clips Investor Relations David Kugelman Atlanta Capital Partners, LLC (404) 856-9157 (866) 692-6847 Toll Free - U.S. And Canada dk@atlcp.com
Categories: State

Fairmount Santrol Announces Second-Quarter 2017 Results

3 August 2017 - 5:00am
  • Volumes of 3.3 million tons up 22% sequentially, including Proppant Solutions volumes of 2.6 million tons up 24% sequentially
  • Revenues of $233.2 million up 35% sequentially, with over 40% growth in Proppant Solutions revenues and solid 9% growth in Industrial and Recreational revenues
  • Net income of $10.5 million or $0.05 per diluted share
  • Adjusted EBITDA of $47.0 million, excluding $2.8 million of non-cash stock compensation expense and $0.4 million from the write-off of deferred financing costs

CHESTERLAND, Ohio, Aug. 03, 2017 (GLOBE NEWSWIRE) -- Fairmount Santrol (NYSE:FMSA), a leading provider of high-performance sand and sand-based product solutions, today announced results for the second quarter ended June 30, 2017.

Second-Quarter 2017 Results

Second-quarter 2017 revenues were $233.2 million, up 35% from $172.6 million in the first quarter of 2017 and up 104% from $114.2 million in the second quarter of 2016. Total Company volumes sold were 3.3 million tons for the quarter, up 22% from 2.7 million tons sold in the first quarter of 2017 and an increase of 68% from 2.0 million tons in the second quarter of 2016.

For second-quarter 2017, the Company had net income of $10.5 million, or $0.05 per diluted share, compared with a net loss of $11.6 million, or $(0.05) per diluted share, in the first quarter of 2017. Net loss for second-quarter 2016 was $87.9 million, or $(0.54) per diluted share.

Adjusted EBITDA for the second quarter of 2017 was $47.0 million, which excludes non-cash stock compensation expense of $2.8 million and $0.4 million from the write-off of deferred financing fees. Second-quarter 2017 Adjusted EBITDA includes $1.5 million in costs related to plant start-ups and $3.2 million of freight charges to move 1,200 railcars from storage and into the Company’s active fleet. First-quarter 2017 Adjusted EBITDA was $21.7 million and excluded non-cash stock compensation expense of $2.4 million, but included $0.9 million of start-up costs from plant reactivations. The Adjusted EBITDA loss for the second quarter of 2016 was $21.8 million, and excludes the impact from non-cash stock compensation expense and asset impairment charges totaling $94.5 million.  The second-quarter 2016 Adjusted EBITDA loss includes the impact of inventory write-downs, restructuring costs and professional fees of $16.8 million.

Jenniffer Deckard, President and Chief Executive Officer, said, “Our second-quarter results demonstrate our ability to capture growth, in both raw sand and coated proppants, from improving conditions in the oil & gas markets and to deliver solid, steady growth in our I&R segment.” Deckard continued, “We have prudently added capacity in our Proppant Solutions segment as customer demand has strengthened and pricing has improved, and we have leveraged our logistics network to deliver strong profitability growth in the second quarter.”

The Company recently announced plans for a new facility near Kermit, Texas, in the Permian basin that is expected to add 3 million tons of annual proppant sand production. The Kermit facility further broadens the Company’s product portfolio, and with the re-opening of the Shakopee, Minnesota, mine, will enable the Company to capitalize on growing market demand.

Business Segments

Proppant Solutions Segment

For the second quarter of 2017, Proppant Solutions volumes were 2.6 million tons, an increase of 24% compared with the first quarter of 2017 and up over 100% compared with the prior-year period. Raw proppant sand volumes were 2.4 million tons, a 25% sequential increase and a 95% increase compared with the same period a year ago. As incremental capacity was brought online from Brewer and Maiden Rock, the Company was able to capture additional market demand, which contributed to overall volume growth. However, supply remains tight, particularly for finer grades. Coated proppant volumes were 193,000 tons, a 20% increase compared with the first quarter of 2017 and a 133,000-ton increase from the prior-year period.

Proppant Solutions revenues were $198.8 million in second-quarter 2017, a 41% increase compared with $141.0 million in the first quarter of 2017 and a $117 million increase compared with $82.1 million in the second quarter a year ago. Proppant Solutions revenues were positively impacted by higher volumes and pricing, as well as by a mix shift toward in-basin sales. Average raw proppant sand pricing in second-quarter 2017 increased more than $8 per ton as compared to first-quarter 2017, based on a consistent mix.

Proppant Solutions gross profit increased to $54.4 million, or $21 per ton, in the second quarter of 2017 compared with $27.3 million, or $13 per ton, in the first quarter of 2017. Second-quarter 2017 Proppant Solutions gross profit includes $1.5 million of costs related to plant start-ups and $3.2 million of freight charges to move 1,200 railcars to the Company’s active fleet. The sequential improvement in Proppant Solutions gross profit is due to higher pricing and greater volumes, resulting in improved fixed cost leverage and higher gross margins. Gross profit for the segment in the second quarter of 2016 was a loss of $13.5 million and included $9.9 million of inventory write-downs.

Industrial and Recreational Products Segment

Industrial and Recreational volumes were 687,000 tons in second quarter 2017, up 15% from first-quarter 2017 and up 4% from the prior-year second quarter.

Revenues for the segment were $34.4 million in second quarter 2017, a 9% increase from $31.6 million in the first quarter and a 7% increase from $32.1 million for the second quarter 2016. The increase in revenue from the second quarter 2016 was primarily due to increased volumes, higher pricing versus the prior-year period and a modest mix shift toward value-added products. 

Industrial and Recreational gross profit was $15.7 million, or 46% of sales, in second-quarter 2017, compared with $13.5 million, or 43% of sales, in the first quarter of 2017. Gross profit for the segment in the second quarter of 2016 was $13.6 million, or 42% of sales, and included $0.4 million of inventory write-downs in the quarter.  The $2.1 million year-over-year improvement in gross profit was driven by higher fixed cost leverage and a mix shift toward higher-margin products.

Balance Sheet and Other Information

Through the first six months of 2017, net cash generated by operating activities was $54.2 million, which was largely due to higher profitability over the period, offset somewhat by an increase in working capital as a result of increased sales. Further, tax refunds of $16 million were received in the second quarter and are included in net cash generated by operating activities. Net cash used in financing activities in the first six months of 2017 was $57.0 million, primarily a result of the June 30, 2017, $50 million term debt pre-payment, as previously announced, as well as recurring scheduled debt service payments. Capital expenditures were $14.2 million for the six months ended June 30, 2017, which included $7.2 million spent in the second quarter.

As of June 30, 2017, cash and cash equivalents totaled $178.5 million, and total debt was $796.1 million, resulting in net debt of $617.6 million, representing a quarterly reduction in net debt of $16.9 million.

Michael Biehl, Executive Vice President and Chief Financial Officer, commented, “We are pleased by the opportunities our recently announced capacity expansion at Kermit provides for us and our customers. The lease structure has given us the flexibility to both invest in our business and continue the progress that we have made in optimizing our capital structure by prepaying $50 million in term debt. Our top priorities for the coming quarters will be to continue to reduce our net debt through free cash flow generation and to refinance our term debt that is due in September 2019, in addition to replacing our existing revolving credit facility, which expires in September 2018.”

Looking Forward

The Company recently announced plans for expansion in Kermit, Texas, to build a 3-million-ton annual-capacity plant with an anticipated operational start-up at the beginning of second-quarter 2018. The Company is also in the process of reopening its Shakopee, Minnesota, mine and sand processing plant, which is located on the Union Pacific railroad, with expectations to be operational by the end of the third quarter of 2017. The addition of these two mines will add approximately 3.7 million tons of annual processing capacity to the Company’s total mining footprint.

Full-year 2017 ongoing capital expenditures, excluding the new Kermit, Texas site, are still expected to be between $47 million to $50 million.  The Company estimates total capital expenditures and leasehold interest payments of $100 million to $110 million related to the Kermit site over the next 12 months. 

Deckard noted, “As we look to the remainder of 2017 and beyond, we expect proppant demand to grow across all basins, with a continued broad mix of product and grade distribution. Our strategy to expand our industry-leading product portfolio, our production capacity, and our comprehensive logistics network will keep us in an excellent position to meet the diverse needs of our customers and to benefit from the continued changes in market demand.”

Use of Certain GAAP and Non-GAAP Financial Measures

The Company defines EBITDA as net income before interest expense, income tax expense, depreciation, depletion and amortization. Adjusted EBITDA is defined as EBITDA before non-cash stock-based compensation, asset impairments, and certain other income or expenses. The Company believes EBITDA and Adjusted EBITDA are useful because they allow management to more effectively evaluate our operational performance and compare the results of our operations from period to period without regard to our financing costs or capital structure.

Conference Call

Fairmount Santrol will host a conference call and live webcast for analysts and investors today, August 3, 2017, at 10 a.m. Eastern Time to discuss the Company's 2017 second-quarter financial results. Investors are invited to listen to a live audio webcast of the conference call, which will be accessible on the Investor Relations section of the Company’s website. To access the live webcast, please log in 15 minutes prior to the start of the call to download and install any necessary audio software. An archived replay of the call will also be available on the website following the call. The call can also be accessed live by dialing (877) 201-0168 or, for international callers, (647) 788-4901. The conference ID for the call is 47489888. A replay will be available shortly after the call and can be accessed by dialing (800) 585-8367 or (416) 621-4642. The passcode for the replay is 47489888. The replay of the call will be available through August 10, 2017.

About Fairmount Santrol

Fairmount Santrol is a leading provider of high-performance sand and sand-based product solutions used by oil and gas exploration and production companies to enhance the productivity of their wells. The Company also provides high-quality products, strong technical leadership and applications knowledge to end users in the foundry, building products, water filtration, glass, and sports and recreation markets. Its expansive logistics capabilities include a wide-ranging network of distribution terminals and railcars that allow the Company to effectively serve customers wherever they operate. As one of the nation’s longest continuously operating mining organizations, Fairmount Santrol has developed a strong commitment to all three pillars of sustainable development, People, Planet and Prosperity. Correspondingly, the Company’s motto and action orientation is: “Do Good. Do Well.” For more information, visit FairmountSantrol.com.

Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent the Company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control that could cause actual results to differ materially from the results discussed in the forward-looking statements. These factors include: changes in prevailing economic conditions, including continuing pressure on and fluctuations in demand for, and pricing of, our products; loss of, or reduction in business from the Company’s largest customers or their failure to pay the Company; possible adverse effects of being leveraged, including interest rate, event of default or refinancing risks, as well as potentially limiting the Company’s ability to invest in certain market opportunities; the level of cash flows generated to provide adequate liquidity; our ability to successfully develop and market new products, including Propel SSP® and related products; our rights and ability to mine our property and our renewal or receipt of the required permits and approvals from government authorities and other third parties; our ability to implement and realize efficiencies from capacity expansion plans, facility reactivation and cost reduction initiatives within our time and budgetary parameters; increasing costs or a lack of dependability or availability of transportation services or infrastructure and geographic shifts in demand; changing legislative and regulatory initiatives relating to our business, including environmental, mining, health and safety, licensing, reclamation and other regulation relating to hydraulic fracturing (and changes in their enforcement and interpretation); silica-related health issues and corresponding litigation; seasonal and severe weather conditions; and other operating risks that are beyond our control.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in Fairmount Santrol Holdings Inc.’s filings with the Securities and Exchange Commission (“SEC”). The risk factors and other factors noted in our filings with the SEC could cause our actual results to differ materially from those contained in any forward-looking statement.

           Fairmount Santrol         Condensed Consolidated Statements of Income (Loss)         (unaudited)           Three Months Ended June 30, Six Months Ended June 30,    2017  2016   2017   2016                     (in thousands, except per share
amounts)

 (in thousands, except per share
amounts)

           Revenues $233,226 $114,249  $405,809  $259,707  Cost of goods sold (excluding depreciation, depletion,         and amortization shown separately)  163,136  114,129   294,888   232,593            Operating expenses         Selling, general and administrative expenses(A)  25,863  25,040   48,333   43,318  Depreciation, depletion and amortization expense  19,846  18,056   39,288   36,642  Asset impairments  -  90,578   -   90,654  Restructuring charges  -  1,155   -   1,155  Other operating expense (income)  355  (426)  (705)  (96) Income (loss) from operations  24,026  (134,283)  24,005   (144,559)           Interest expense, net  12,983  16,606   25,520   33,868  Other non-operating income  -  -   -   (5) Income (loss) before provision (benefit) for income taxes  11,043  (150,889)  (1,515)  (178,422)           Provision (benefit) for income taxes  520  (63,019)  (628)  (78,773) Net income (loss)    10,523     (87,870)    (887)    (99,649) Less: Net income attributable to the non-controlling interest  40  16   218   13  Net income (loss) attributable to Fairmount Santrol Holdings Inc. $  10,483  $  (87,886) $  (1,105) $  (99,662)           Earnings (loss) per share         Basic $0.05 $(0.54) $-  $(0.62) Diluted $0.05 $(0.54) $-  $(0.62)           Weighted average number of shares outstanding         Basic  224,015  161,647   223,878   161,547  Diluted  228,184  161,647   223,878   161,547            (A) - Stock compensation expense of $2,763 and $3,914 for the three months ended June 30, 2017 and 2016, respectively, and $5,179 and $5,567 for the six months ended June 30, 2017 and 2016, respectively, are included within selling, general, and administrative expenses.           


 Fairmount Santrol     Condensed Consolidated Statements of Cash Flows     (unaudited)       Six Months Ended June 30,    2017   2016          (in thousands)       Net loss $(887) $(99,649) Adjustments to reconcile net loss to net cash provided by (used in) operating activities:     Depreciation and depletion  35,508   34,284  Amortization  6,305   5,745  Reserve for doubtful accounts  (209)  1,954  Write-off of deferred financing costs  389   -  Asset impairments  -   90,654  Inventory write-downs and reserves  1,266   10,302  (Gain) loss on sale of fixed assets  (552)  35  Deferred income taxes and taxes payable  1,044   (59,913) Refundable income taxes  18,591   (15,535) Stock compensation expense  5,179   5,567  Change in operating assets and liabilities:     Accounts receivable  (44,602)  10,524  Inventories  (9,423)  3,500  Prepaid expenses and other assets  (991)  3,745  Accounts payable  11,024   298  Accrued expenses and deferred revenue  31,606   (4,450) Net cash provided by (used in) operating activities  54,248    (12,939)       Cash flows from investing activities     Proceeds from sale of fixed assets  1,216   3,918  Capital expenditures and stripping costs  (14,236)  (21,948) Earnout payments  (250)  -  Other investing activities  -   (150) Net cash used in investing activities  (13,270)  (18,180)       Cash flows from financing activities     Payments on long-term debt  (4,299)  (5,899) Prepayments on term loans  (50,000)  (69,580) Payments on capital leases and other long-term debt  (2,087)  (4,109) Proceeds from option exercises  536   2,007  Tax payments for withholdings on share-based awards exercised or distributed  (1,091)  (292) Tax effect of stock options exercised, forfeited, or expired  -   (1,297) Transactions with non-controlling interest  (22)  (551) Net cash used in financing activities  (56,963)  (79,721)       Change in cash and cash equivalents related to assets classified as held-for-sale  -   1,376  Foreign currency adjustment  443   (387) Decrease in cash and cash equivalents  (15,542)  (109,851)       Cash and cash equivalents:     Beginning of period  194,069    171,486   End of period $178,527   $61,635        


Fairmount Santrol    Condensed Consolidated Balance Sheets    (unaudited)      June 30, 2017 December 31, 2016       (in thousands)Assets    Current assets    Cash and cash equivalents $178,527  $194,069 Accounts receivable, net  123,753   78,942 Inventories, net  60,807   52,650 Prepaid expenses and other assets  5,628   7,065 Refundable income taxes  2,487   21,077 Total current assets  371,202   353,803      Property, plant and equipment, net  716,362   727,735 Deferred income taxes  1,244   1,244 Goodwill  15,301   15,301 Intangibles, net  92,524   95,341 Other assets  8,206   9,486 Total assets $1,204,839  $1,202,910      Liabilities and Equity    Current liabilities    Current portion of long-term debt $12,172  $10,707 Accounts payable  51,654   37,263 Accrued expenses and deferred revenue  48,912   26,185 Total current liabilities  112,738   74,155      Long-term debt  783,946   832,306 Deferred income taxes  7,839   7,057 Other long-term liabilities  43,311   38,272 Total liabilities  947,834   951,790      Equity    Common stock  2,423   2,422 Additional paid-in capital  298,038   297,649 Retained earnings  263,314   264,852 Accumulated other comprehensive loss  (18,190)  (19,002)Treasury stock at cost  (288,849)  (294,874)Non-controlling interest  269   73 Total equity  257,005   251,120 Total liabilities and equity $1,204,839  $1,202,910      


Fairmount Santrol          Segment Reports           (unaudited) Three Months Ended June 30, Six Months Ended June 30, Three Months Ended
March 31,
   2017  2016   2017  2016  2017             (in thousands, except volume amounts) (in thousands, except volume amounts) (in thousands, except
volume amounts)
            Volume (tons)          Proppant Solutions          Raw sand  2,393,647  1,230,077   4,314,480  2,643,325  1,920,833Coated proppant  193,242  59,826   354,740  172,530  161,498Total Proppant Solutions  2,586,889  1,289,903   4,669,220  2,815,855  2,082,331           Industrial & Recreational Products  686,831  661,244   1,282,209  1,248,422  595,378           Total volumes  3,273,720  1,951,147   5,951,429  4,064,277  2,677,709           Revenues          Proppant Solutions $198,812 $82,102  $339,805 $199,565 $140,993Industrial & Recreational Products  34,414  32,147   66,004  60,142  31,590Total revenues  233,226  114,249   405,809  259,707  172,583           Segment gross profit          Proppant Solutions  54,373  (13,529)  81,719  3,063  27,346Industrial & Recreational Products  15,717  13,649   29,202  24,051  13,485Total segment gross profit  70,090  120   110,921  27,114  40,831           


Fairmount Santrol          Non-GAAP Financial Measures            (unaudited) Three Months Ended June 30, Six Months Ended June 30, Three Months
Ended March 31,
   2017  2016   2017   2016   2017                       (in thousands)
 (in thousands)
 (in thousands)
                               Reconciliation of Adjusted EBITDA                     Net income (loss) attributable to Fairmount Santrol Holdings Inc. $10,483 $(87,886) $(1,105) $(99,662) $(11,588)Interest expense, net  12,983  16,606   25,520   33,868   12,537 Provision (benefit) for income taxes  520  (63,019)  (628)  (78,773)  (1,148)Depreciation, depletion, and amortization expense  19,846  18,056   39,288   36,642   19,442 EBITDA  43,832  (116,243)  63,075   (107,925)  19,243            Non-cash stock compensation expense(1)  2,763  3,914   5,179   5,567   2,416 Asset impairments(2)  -  90,578   -   90,654   - Write-off of deferred financing costs(3)  389  -   389   -   - Adjusted EBITDA $46,984 $(21,751) $68,643  $(11,704) $21,659 __________                     (1) Represents the non-cash expense for stock-based awards issued to our employees and outside directors.
           (2) Non-cash charges associated with the impairment of mineral reserves and other long-lived assets.           (3) Represents the write-off of deferred financing fees in relation to term loan prepayment.


CONTACT: Investor contacts: Indrani Egleston 440-214-3219 Indrani.Egleston@fairmountsantrol.com Matthew Schlarb 440-214-3284 Matthew.Schlarb@fairmountsantrol.com
Categories: State

Sea Oats Group Announces Opening of Five Town Center at Cinnamon Shore

2 August 2017 - 3:07pm

Mustang Island, Texas, Aug. 02, 2017 (GLOBE NEWSWIRE) -- Sea Oats Group today announced the spring 2018 opening of Five Town Center, the first mixed-use development at Cinnamon Shore, Mustang Island’s premier “new urbanism” resort living community.

“We are excited to lead the charge in bringing mixed-use development and exceptional retail to Mustang Island,” said Jeff Lamkin, CEO of Sea Oats Group, developers of Cinnamon Shore. “With Five Town Center, we will significantly increase the upscale retail and creative dining options available within a short stroll of Cinnamon Shore owners’ homes.”

Five Town Center will house several distinctive restaurants and retailers, including Max’s Coal Oven Pizzeria, a contemporary, inventive restaurant that will serve coal-fired New York-style pizza, fresh Italian pastas, salads, desserts and signature coal-fired chicken wings; The Bottle Shop, a boutique liquor shop featuring specialty liquors, unique wines and mixers; The Market, a small grocery offering fresh fruits, vegetables and specialty items; and an ice cream and candy shop, the name of which will be decided via a contest among local elementary school children. Already open nearby at the Kiera Pool is the C Bar Café, a poolside café serving lunch and dinner, with a full cocktail menu.

Nestled behind 300 feet of protective dunes and just minutes from Corpus Christi, Cinnamon Shore is the ultimate expression of coastal living. The vibrant, master-planned “new urban” development on Texas’ Coastal Bend promotes an environmentally friendly lifestyle by combining elegant housing, work spaces, retail amenities, and parks and recreational facilities in a highly livable, walkable seaside resort community. Nearby activities include links-style golfing, unique shopping, parasailing and charters, all effortlessly booked for residents and guests through Cinnamon Shores’ exclusive concierge services.

Over the past decade, Sea Oats Group has been one of the most successful developers of coastal properties in any market nationwide, including the Texas Gulf Coast, where the value of its beachfront portfolio is unequalled.

With phase I of Cinnamon Shore 85 percent sold out, Sea Oats Group last month announced it is embarking on a $1.3 billion, 300-acre expansion featuring distinctive new home designs and a wide array of appealing amenities. The phase II expansion will take place over 15 to 20 years and will more than quadruple the size of the existing community. It will encompass Cinnamon Shore South, an $800 million investment, and Cinnamon Shore Bay Shore, projected to be a $500 million buildout. Sea Oats Group envisions four primary pillars of distinction for phase II: (1) home craftsmanship and a lifestyle unrivaled on the Gulf Coast; (2) a dining district with dozens of restaurants to please any palate or mood; (3) enticing destination retail; and (4) a health and wellness center. 

 Phase II will include a 3,300-foot wide beachfront, maintained daily – almost three times the size of the beach at Cinnamon Shore North. Eventually, the development will lie on both sides of State Highway 361, about a mile south of Cinnamon Shore North, with a golf cart bridge enabling residents to easily access amenities on both sides of the roadway. Plans include multiple swimming pools and lakes to provide refuge and enhance the landscape. A key feature of phase II – an approximately 10-acre lake, one of the largest on the Texas Gulf Coast – will be encircled by a mile-long boardwalk. The development will also feature honeymoon cottages, town centers for retail within each phase and a boutique hotel opening in 2018. Site work is already underway, and Sea Oats Group expects to begin building homes on the property in mid- to late-2018.

“With Five Town Center, we are taking a significant step toward fulfilling our vision of making Cinnamon Shore an unparalleled place to live, work and play on Mustang Island,” said Lamkin. “Phase I has already been extremely well-received, but as we roll out our phase II plans over the next several months, we anticipate an exponential increase in interest in our development as an ultimate coastal destination.”

 Construction of Five Town Center will be completed in late 2017. Its retail establishments will open in the first quarter of 2018, in time for spring break.

 

###

About Cinnamon Shore

Cinnamon Shore is a pedestrian-friendly planned community nestled behind 300 feet of protective dunes on Mustang Island along the Texas Gulf Coast. It is the first “new urbanism” development for Sea Oats Group, which is fulfilling its vision of a traditional seaside village with a wide array of amenities and recreational facilities intertwined with beach cottages, luxury villas and vibrant town centers. Every detail of Cinnamon Shore is designed to embrace the natural ambience of Mustang Island and the slow-paced charm of a walking neighborhood. For more information, visit http://www.CinnamonShore.com, and follow us on Facebook, Instagram and Twitter (@CinnamonShore).

About Sea Oats Group

Sea Oats Group is one of the most successful developers of coastal properties in any market nationwide, including the Texas Gulf Coast, where the value of its beachfront portfolio is unequalled. The firm is dedicated to creating traditional neighborhood developments that provide residents with the highest possible quality of life, while preserving the integrity of the resort landscapes they occupy. By combining living spaces with retail areas in a walkable, connected plan, Sea Oats Group weaves together beautiful places to live, work and play. For more information, visit www.SeaOatsGroup.com.

 

 

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/327c3bc7-0f49-4c75-965d-c0bac29afc47

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/424d4c7e-85f7-47c8-a062-f5a014e14438

CONTACT: Lynn Darden Cinnamon Shore 512-363-5160 lynn@theprboutique.com
Categories: State

LKQ Corporation to Present at Upcoming Investor Conference

2 August 2017 - 9:00am

CHICAGO, Aug. 02, 2017 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq:LKQ) today announced that members of its senior management will be presenting at the following investor conference:

J.P. Morgan Auto Conference 2017                                                              August 9, 2017
J.P. Morgan Conference Center, New York, New York
           

Materials used during the presentation will be posted to the Company's website at www.lkqcorp.com in the Investor Relations section.

About LKQ Corporation

LKQ Corporation (www.lkqcorp.com) is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, Europe and Taiwan. LKQ offers its customers a broad range of replacement systems, components, equipment and parts to repair and accessorize automobiles, trucks, and recreational and performance vehicles.

CONTACT: Joseph P. Boutross LKQ Corporation Director, Investor Relations (312) 621-2793 jpboutross@lkqcorp.com
Categories: State

Pyramid Lake Paiute Tribe Environmental Department selects Locus Technologies for its environmental data management system software

1 August 2017 - 1:38pm

SAN FRANCISCO, CA--(Marketwired - August 01, 2017) - Locus Technologies (Locus), the industry leader in cloud-based EHS software, is pleased to announce that Pyramid Lake Paiute Tribe (PLPT) Environmental Department selected Locus EIM SaaS as its environmental data quality management and reporting software solution.

PLPT was looking for a way to streamline their current data management and reporting activities for the environmental data collected at their Reservation. The Pyramid Lake Paiute Tribes' Reservation is located thirty-five miles northeast of Reno, Nevada, in a remote desert area and includes the surface of a terminal desert lake, Pyramid Lake. Pyramid Lake is one of the most valuable assets of the Tribe and is entirely enclosed within the boundaries of the Reservation. Much of the economy on the Pyramid Lake Reservation is centered around fishing and recreational activities at Pyramid Lake. PLPT monitors and reports to US EPA on the environmental status of their natural resources under their Tribal Water Quality Standards. They are required to submit electronically via the Water Quality Exchange, or WQX framework, which is the mechanism for submitting data to the EPA STORET Data Warehouse.

PLPT needed a robust data system to manage a wide range of manual and automated sampling, the ability to seamlessly import internal and external analytical laboratory data, and, most importantly, a way to create push-button submittals in the exacting WQX format.

Locus EIM will automate environmental data management activities for PLPT and improve data reporting and visualization needs for their users, simplifying their current manual processes and meeting their complex compliance and regulatory submittal requirements. PLPT will also use Locus Mobile to capture field data at the source, streamlining data collection and processing for their key lake and river sampling.

Locus EIM is a comprehensive SaaS solution designed to manage critical environmental and sustainability data, helping all types of organizations to organize, manage, report, and visualize sampling, analytical, and subsurface data for compliance and assurance reporting. Locus EIM, teamed with Locus Mobile field application, is a viable solution well suited for the unique demands of natural resource environmental monitoring.

"Our mission is to help organizations like PLPT achieve their environmental stewardship goals by providing them with the software tools to control and streamline the overall process for management of all environmental data," said Wes Hawthorne, President of Locus. "With our recently released WQX export functionality, we have added yet another key tool that greatly and efficiently simplifies the complex process of required EPA reporting, while providing a robust software solution that will meet their needs for years to come."

About Pyramid Lake Paiute Tribe

The Pyramid Lake Paiute Tribe is governed by 10 Tribal Council members who are elected bi-annually in December and on staggered two-year terms. The tribe operates under the Indian Reorganization Act Constitution and By-Laws approved on January 26, 1936 by the Department of Interior.

The Pyramid Lake Paiute Tribe has a Government-to-Government Relationship with the Federal Government. Therefore, the Tribe contracts with or receives grants directly from Federal Agencies or the State of Nevada, to provide services to the Tribal members and residents of the Reservation. The revenue generated by the Tribe is used to support local Tribal government activities and to supplement the programs that provide direct services to the Tribal members or residents.

ABOUT LOCUS TECHNOLOGIES
Locus Technologies is a leading sustainability software company that has been helping companies achieve environmental and compliance business excellence since 1997. Public and private companies, such as Chevron, Honeywell, Monsanto, DuPont, and Los Alamos National Laboratory, rely on Locus to manage their water quality, air, and soil data to calculate emissions including greenhouse gases, discharges, and environmental impacts. Locus provides mobile and multi-tenant SaaS and PaaS (Software as a Service/Platform-as-a-service) software solutions to build end-user configurable solutions.

For more information, visit locustec.com or email info@locustec.com.

Contact Information:

MEDIA CONTACT
Dipali Shah
Locus Technologies
(650) 960-1640
info@locustec.com

Categories: State

Acology Eliminates Major Debt; Looks to Business Expansion

1 August 2017 - 7:30am

CORONA, Calif., Aug. 01, 2017 (GLOBE NEWSWIRE) -- Acology Inc. (OTCMKTS:ACOL) announced today that they extinguished a large portion of their present debt by retiring the company’s 3rd party conversion note and, for the first time in its’ history, have attained sole-possession of the company. The company now intends to use the leverage gained from reducing this considerable debt to continue with the aggressive projects planned for this year.

Several strategic projects currently in development, including the final negotiations to purchase EZ Health Solutions and expanding into the CBD and cannabis extract market, will become the focus of the expansion. The company’s debt-reduction also advances Acology’s plans to move to the OTC-QB. Plans to purchase new products and pursue ownership rights to various intellectual properties relating to the cannabis and pharmaceutical industries will now move forward. In addition, Acology’s plans for the remainder of 2017 include potential partnerships and investments in and with other companies. These objectives, once attained, would open new avenues for business expansion in both the healthcare and cannabis industries and fulfill the commitment made to investors to make this year the most profitable in history of the company.

Acology’s earnings have remained stable since the beginning of the year and have not been subject to the buffeting that other, similar companies have experienced. Acology management’s continued and growing confidence in the North American market has paid off with sharp earnings increases. There is good reason to believe, based on the analysis of industry experts, that the fluid US federal position towards the cannabis industry is beginning to stabilize and market increases will reflect that confidence.

For investor or sales information please visit Acology Inc. and D&C Distributors online or by phone. The company is located in their production and distribution facility at 1620 Commerce St. Corona, California, 92880.

Acology trades on the OTC under the call letters ACOL. The company’s websites are www.Acologyinc.com for the hospice and palliative care industry and www.themedtainer.com for the recreational and medical marijuana industry. Orders for Acology products can be taken online and by phone. Custom orders are especially welcome.  Please send all inquiries to info@acologyinc.com or call (844) ACOLOGY (844-226-5649). Ask for Jack Rein, National Services Director.  Acology can also be accessed through Twitter and Instagram at @Acologyinc

This press release includes statements that are covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events they are subject to risks and uncertainties and actual results for fiscal year 2016 and beyond could differ materially from the company’s current expectations. Forward-looking statements are identified by such words as “anticipates”, “projects”, “expects”, “planned”, “intends” and “believes” “estimate” “targets” and other similar expressions that indicate trends and future events. It is understood that investment entails risk on the part of the investor and could result in the loss of some or all his or her investment.

Categories: State

Madison Paper Industries concluded the sale of its hydro power facilities in North America to Eagle Creek Renewable Energy

1 August 2017 - 12:34am

(UPM, Helsinki, 1 August 2017 at 8:30 EET) - Madison Paper Industries, a partnership of UPM and Northern SC Paper Corp., a subsidiary of The New York Times Company, concluded the sale of its hydro power facilities to Eagle Creek Renewable Energy, LLC, a hydroelectric power producer, based in Morristown, NJ, USA on 31 July 2017.

The transaction was announced by Madison Paper Industries in April 2017.

For further information please contact:
Ruud van den Berg, Senior Vice President, Magazines, Merchants & Office, UPM Paper ENA tel. +49 151 1215 8310
Bernard H. Cherry, CEO, Eagle Creek Renewable Energy, LLC, tel. +1 973 998 8400,  www.eaglecreekre.com

UPM, Media Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
media@upm.com

About Eagle Creek
Eagle Creek Renewable Energy is an owner, operator and developer of hydroelectric power projects. Eagle Creek's projects provide clean energy to electricity consumers in North America while providing recreational opportunities and protecting historical resources and the  environment. Eagle Creek was founded in 2010 to acquire, enhance, and operate small to medium hydroelectric power facilities. Eagle Creek currently owns and operates a portfolio of over 200 MW of hydroelectric facilities across the United States. Eagle Creek is a privately owned entity with its largest investors being Power Energy Eagle Creek and Hudson Clean Energy Partners.

About Madison Paper Industries
Madison Paper Industries is a partnership of UPM and Northern SC Paper Corp., a subsidiary of The New York Times Company.

About UPM Paper ENA
UPM Paper ENA (Europe and North America) is the world's leading producer of graphic papers, offering an extensive product range for advertising and publishing as well as home and office uses. The high performing papers and service concepts of UPM add value to our customers' businesses, while actively fulfilling demanding environmental and social responsibility criteria. With headquarters in Germany, UPM Paper ENA employs approximately 8,000 people. More about UPM Paper ENA and its products at www.upmpaper.com

About UPM
Through the renewing of the bio and forest industries, UPM is building a sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Paper ENA and UPM Plywood. Our products are made of renewable raw materials and are recyclable. We serve our customers worldwide. The group employs around 19,300 people and its annual sales are approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM - The Biofore Company - www.upm.com

Follow UPM on Twitter | LinkedIn | Facebook | YouTube | Instagram | upmbiofore.com

Categories: State

Blue Buffalo to Support the National FFA Organization in Partnership with Tractor Supply Co.

31 July 2017 - 9:00am

WILTON, Conn., July 31, 2017 (GLOBE NEWSWIRE) -- Blue Buffalo (Nasdaq:BUFF) and Tractor Supply Co. have announced a promotional partnership to help raise funds in support of FFA and agricultural education.

For each 30-lb bag of Blue Buffalo Adult Chicken & Brown Rice, Adult Lamb & Brown Rice or Adult Large Breed Chicken & Brown Rice purchased at Tractor Supply stores nationwide from July 31st through October 1, 2017, Blue Buffalo will make a donation to the National FFA Organization.

The National FFA Organization provides leadership, personal growth and career success training through agricultural education to 649,355 student members who belong to one of the 7,859 local FFA chapters throughout the U.S., Puerto Rico and the U.S. Virgin Islands. The organization is also supported by 225,891 alumni members in 1,934 alumni chapters throughout the U.S.

About Blue Buffalo Company
Blue Buffalo, based in Wilton, CT, is the nation's leading natural pet food company, providing natural foods and treats for dogs and cats under its BLUE Life Protection Formula, BLUE Wilderness, BLUE Basics, BLUE Freedom and BLUE Natural Veterinary Diet lines. Paying tribute to its founding mission, the Company, through the Blue Buffalo Foundation, is a leading sponsor of pet cancer awareness and of critical research studies of pet cancer, including causes, treatments and the role of nutrition, at leading veterinary medical schools and clinics across the United States. For more information about Blue Buffalo, visit the Company’s website at www.BlueBuffalo.com

About Tractor Supply Company
Founded in 1938, Tractor Supply Company is the largest rural lifestyle retail store chain in the United States. At April 1, 2017, the Company operated 1,617 Tractor Supply stores in 49 states and an e-commerce website at www.tractorsupply.com. Tractor Supply stores are focused on supplying the lifestyle needs of recreational farmers and ranchers and others who enjoy the rural lifestyle, as well as tradesmen and small businesses.  Stores are located primarily in towns outlying major metropolitan markets and in rural communities.  The Company offers the following comprehensive selection of merchandise: (1) equine, livestock, pet and small animal products, including items necessary for their health, care, growth and containment; (2) hardware, truck, towing and tool products; (3) seasonal products, including heating, lawn and garden items, power equipment, gifts and toys; (4) work/recreational clothing and footwear; and (5) maintenance products for agricultural and rural use.
Tractor Supply Company also owns and operates Petsense, a small-box pet specialty supply retailer focused on meeting the needs of pet owners, primarily in small and mid-size communities, and offering a variety of pet products and services.  At April 1, 2017, the Company operated 152 Petsense stores in 26 states.  For more information on Petsense, visit www.petsense.com

About the National FFA
The National FFA Organization is a national youth organization of 649,355 student members as part of 7,859 local FFA chapters in all 50 states, Puerto Rico and the U.S. Virgin Islands. The organization is supported by 225,891 alumni members in 1,934 local FFA Alumni chapters throughout the U.S. The FFA mission is to make a positive difference in the lives of students by developing their potential for premier leadership, personal growth and career success through agricultural education. The National FFA Organization operates under a federal charter granted by the 81st United States Congress and it is an integral part of public instruction in agriculture. The U.S. Department of Education provides leadership and helps set direction for FFA as a service to state and local agricultural education programs. For more, visit the National FFA Organization online at FFA.org and on Facebook, Twitter and the official National FFA Organization blog.

CONTACT: Media Phil Cheevers VP, Communications 203-665-3234 media@bluebuff.com

Categories: State

HomeTrust Bank to Open Commercial Loan Production Office in Greensboro, N.C.

31 July 2017 - 7:30am

ASHEVILLE, N.C., July 31, 2017 (GLOBE NEWSWIRE) -- HomeTrust Bancshares, Inc. (the “Company”) (NASDAQ:HTBI), the holding company for HomeTrust Bank (“Bank”), has announced plans to open a Commercial Loan Production Office (“LPO”) in Greensboro, N.C. The new LPO will provide businesses in the greater Greensboro market with a full array of commercial banking services. 

“We’re pleased to welcome experienced, Greensboro-based commercial bankers to HomeTrust,” said Hunter Westbrook, EVP and Chief Banking Officer. “Entering the Greensboro market will represent the Bank’s seventh new metro market in the past four years, and is a natural geographic expansion to HomeTrust’s contiguous markets. This new LPO, which will focus on commercial and industrial (C&I) lending, will continue to enhance our positive momentum in commercial loan portfolio growth, which increased $400 million, or 53% in fiscal 2017, including $215 million in net organic growth and $185 million from our acquisition of TriSummit Bank in January 2017.”

Since HomeTrust Bank converted to stock in July 2012, the Company has completed four acquisitions, opened two other commercial LPOs, and acquired eight branches from Bank of America, which expanded its geographic footprint into Upstate South Carolina, East Tennessee, Southwest Virginia and Charlotte and Raleigh, North Carolina. As a result, the Company has grown its franchise from 20 to 42 banking locations, increased assets from $1.6 billion to $3.2 billion, increased loans from $1.2 billion to $2.4 billion and increased core deposits from $576 million to $1.6 billion.     

In the last twelve months, HomeTrust Bank has added ten new commercial loan officers and ten new mortgage loan officers to enhance its market share across its growing footprint.  As a result, net organic loan growth was over 14% for the fiscal year ended June 30, 2017 with total loan production of over $980 million, an increase of 41%. 

HomeTrust Bank | Greensboro Commercial Banking Team:

Robert D. Gray, Market President, SVP, brings over 20 years of commercial banking and client relationship management experience to HomeTrust.  He has lived in Greensboro for the majority of his adult life and has covered the Greensboro and Triad markets for much of his career, while also serving in various volunteer and community leadership roles. He began his career in banking immediately after graduating from college and has managed and developed successful commercial banking relationships in Greensboro. He currently serves on the boards of Greensboro Academy Charter School and Community Housing Solutions of Guilford County.  He is a volunteer for Campus Life Ministries in Greensboro, an active member of Gate City Rotary, a middle school leader for boys at Westover Church, and serves as a volunteer coach for multiple youth sports. Robert and his wife, Ginger, and their two children enjoy various outdoor recreational activities and spending time together with neighbors and friends.   

Jeffery Chad Davis, Commercial Relationship Manager, VP, is a native of North Carolina, and has served the banking needs of businesses and individuals in the Greensboro and Wilmington markets since 2006. He is a graduate of the University of North Carolina at Wilmington, Cameron School of Business with a Bachelor of Science degree in Business Administration, Finance. He is actively involved in his community and serves in numerous capacities at Mercy Hill Church where he and his family worship.

“Chad and I are pleased to be joining the HomeTrust Bank team,” said Robert Gray, Market President. “I believe our service and experience in the greater Greensboro market will benefit us as we look to establish a bank presence here, given the market disruptions caused by recent acquisitions of many community banks. We’re excited about building a team to serve the business community across multiple industry categories and supporting the citizens in various ways. We are already well positioned to accomplish this given the financial resources and support of HomeTrust Bank.”

About HomeTrust Bancshares, Inc.

HomeTrust Bancshares, Inc. is the holding company for HomeTrust Bank. As of June 30, 2017, the Company had assets of $3.2 billion. The Bank, founded in 1926, is a North Carolina state chartered, community-focused financial institution committed to providing value added relationship banking through 42 locations as well as online/mobile channels. Locations include: North Carolina (including the Asheville metropolitan area, the "Piedmont" region, Charlotte, and Raleigh), Upstate South Carolina (Greenville), East Tennessee (including Kingsport/Johnson City/Bristol, Knoxville, and Morristown) and Southwest Virginia (including the Roanoke Valley). The Bank is the 3rd largest community bank headquartered in North Carolina.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements often include words such as "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements are not historical facts but instead represent management's current expectations and forecasts regarding future events, many of which are inherently uncertain and outside of our control. Actual results may differ, possibly materially, from those currently expected or projected in these forward-looking statements. Factors that could cause our actual results to differ materially from those described in the forward-looking statements, include expected cost savings, synergies and other financial benefits from our acquisition of TriSummit might not be realized within the expected time frames or at all, and costs or difficulties relating to integration matters might be greater than expected; increased competitive pressures; changes in the interest rate environment; changes in general economic conditions and conditions within the securities markets; legislative and regulatory changes; and other factors described in HomeTrust's latest annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other documents filed with or furnished to the Securities and Exchange Commission-which are available on our website at www.hometrustbanking.com and on the SEC's website at www.sec.gov. Any of the forward-looking statements that we make in this press release or the documents we file with or furnish to the SEC are based upon management's beliefs and assumptions at the time they are made and may turn out to be wrong because of inaccurate assumptions we might make, because of the factors described above or because of other factors that we cannot foresee. We do not undertake and specifically disclaim any obligation to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. These risks could cause our actual results for fiscal 2018 and beyond to differ materially from those expressed in any forward-looking statements by, or on behalf of, us and could negatively affect our operating and stock performance.

WEBSITE: WWW.HOMETRUSTBANCSHARES.COM 

CONTACT: Contact: Robert Gray – Greensboro Market President; Robert.Gray@hometrustbanking.com; 336-392-0520 Dana L. Stonestreet – Chairman, President and Chief Executive Officer Tony J. VunCannon – Executive Vice President, Chief Financial Officer, and Treasurer 828-259-3939
Categories: State

Colorado Sales of Nutritional High’s "FLI" Brand Continues to Accelerate

31 July 2017 - 6:30am

TORONTO, July 31, 2017 (GLOBE NEWSWIRE) -- Nutritional High International Inc. (the "Company" or "Nutritional High") (CSE:EAT) (OTCQB:SPLIF) (FRANKFURT:2NU) is pleased to announce that Palo Verde LLC has secured Roots Rx as another dispensary to carry "FLI" branded products.

Palo Verde LLC ("Palo Verde"), the Company’s licensed tenant in Colorado, filled an order of FLI-branded vape pen cartridges for the Roots Rx dispensary at four locations - 400 E Hyman Ave A102, Aspen, CO; 40690 US-6, Avon, CO; 210 Edwards Village Blvd. B110, Edwards, CO; and 165 Southside Dr., Basalt, CO.

David Johnson, owner of Palo Verde commented - "We continue to be pleased with the accelerating sales at our Pueblo facility. Fostering the key distribution relationships with dispensary chains and securing new retail distribution channels are vital to increasing the market share. Starting off on a the strong foot by demonstrating superior quality products will subsequently drive re-orders, which would in turn translate into accelerating sales."

About Nutritional High International Inc.

Nutritional High is focused on developing, manufacturing and distributing products and nationally recognized brands in the marijuana-infused products industry, including edibles and oil extracts for nutritional, medical and adult recreational use. The Company works exclusively through licensed facilities in jurisdictions where such activity is permitted and regulated by state law.

For updates on the Company's activities and highlights of the Company's press releases and other media coverage, please follow Nutritional High on Facebook, Twitter, Instagram and Google+ or visit www.nutritionalhigh.com.

For further information, please contact:

David Posner, Chairman of the Board
Nutritional High International Inc.
647-985-6727
Email: dposner@nutritionalhigh.com

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such statements include submission of the relevant documentation within the required timeframe and to the satisfaction of the relevant regulators, completing the acquisition of the applicable real estate and raising sufficient financing to complete the Company's business strategy.  There is no certainty that any of these events will occur.  Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.

Company's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulation S under the U.S. Securities Act, absent registration, or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.

Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Categories: State

The Brilliant Encore to Ladera Ranch Living Arrives Today, July 29th

29 July 2017 - 12:00pm

LADERA RANCH, Calif., July 29, 2017 (GLOBE NEWSWIRE) -- The brilliant encore to the legacy of Ladera Ranch debuts today, July 29th, at the highly anticipated Model Grand Opening for Christopher Homes at Ladera Ranch. Doors open at 10 am this morning, when home shoppers will have their first opportunity to experience this stunning collection of 36 brand new homes that reflect the superior construction, architectural quality and timeless innovation that is the hallmark of every Christopher Homes neighborhood. Visitors will be enchanted as they tour two superbly appointed model homes, showcasing refreshingly modern floorplans by award-winning architects that include sweeping, open living spaces with large Great Rooms for socializing, gourmet kitchens with oversized islands, downstairs bedroom suites for visiting guests, lavish master suites, upper-level lofts, desirable California Rooms and the luxury of smart-home automation. The setting within Orange County’s premier master-planned community elevates the allure of homeownership even more, and guests are encouraged to explore the area where family-friendly parks, recreational amenities, hiking trails, and highly rated schools enhance the quality of daily life. To learn more about this coveted new-home opportunity, head to the Christopher Homes at Ladera Ranch Model Grand Opening today or visit www.christopher-homes.com for immediate details. 

“We are thrilled that the long-awaited debut of Christopher Homes at Ladera Ranch has arrived and today, homebuyers can finally experience what we know will be an extraordinary encore to Ladera Ranch’s rich legacy,” said Jaime Todd, Vice President of Sales and Marketing for Christopher Homes. “Join us today for model tours and get ready to plant your roots and thrive at this spectacular new neighborhood.”

Christopher Homes at Ladera Ranch presents two breathtaking residential designs that accommodate the current lifestyles and high expectations of today’s homebuyers. Voluminous floorplans span from approximately 2,820 to 2,934 square feet with four to five bedrooms, three to five baths and two-car garages. A number of gorgeous features and options distinguish these homes, such as charming porches, outdoor decks, versatile lofts, an optional outdoor kitchen at the California Room, optional fireplaces and more. Prices start from $1,020,000.

Lifestyles are enhanced by the dynamic Ladera Ranch setting, where residents have access to beautiful community clubhouses with pools, as well as tennis courts, tot lots, barbecues, miles of walking/hiking trails, a dog park, amenity-rich parks with sports complexes and water plunges, plus much more. The Shops at Mission Viejo provide upscale retail and dining fun while attractions like the Arroyo Trabuco Golf Club offers challenging play on the 18-hole championship length course.

Residents with children appreciate inclusion in the top-rated Capistrano Unified School District’s Oso Grande Elementary School, which is within walking distance of Christopher Homes at Ladera Ranch; the state-of-the-art Ladera Ranch Middle School; and the highly regarded San Juan Hills High School.

Christopher Development Group and Christopher Homes are privately held companies with offices in Newport Beach, California. Christopher Homes is known for residential building excellence. They have a 25-year history of building new homes and master-planned communities throughout Southern California. Founder, President and CEO Christopher Gibbs is directly responsible for building more than 15,000 new homes in communities including the Huntington SeaCliff planned communities in Huntington Beach, Westridge in La Habra and Rosedale in the San Gabriel Valley.

To visit the model homes and Sales Office at Christopher Homes at Ladera Ranch from the I-5 freeway, exit Crown Valley Parkway and head east. Turn right on O’Neill Drive and head south to the Sienna Parkway roundabout. Use the third exit on the roundabout onto Sienna Parkway and make your first right onto Hannah Lane to enter the community. Turn right onto Molly Loop and the model homes will be on your right.

From Ortega Highway, turn onto Antonio Parkway and head north. Turn left on O’Neill Drive and proceed to the Sienna Parkway roundabout. Use the first exit on the roundabout onto Sienna Parkway and make your first right onto Hannah Lane to enter the community. Turn right onto Molly Loop and model the homes will be on your right.

Those interested are encouraged to follow Christopher Homes on Facebook, Instagram and
YouTube. Visit www.christopher-homes.com for more information.

Prices are effective as of the date of publication.

CONTACT: CONTACT: Brittany Duhs – BrittanyD@HayesMartin.com (949) 417-1799
Categories: State

Ananda Hemp Endorses Industrial Hemp Farming Act of 2017

28 July 2017 - 3:05pm
  • Bill would legalize production of industrial and research hemp in the U.S.
  • Ananda Hemp, the first U.S.-licensed hemp producer, has advocated for legalization since 2013

CYNTHIANA, Ky., July 28, 2017 (GLOBE NEWSWIRE) -- Ananda Hemp, a manufacturer of legal, non-psychoactive hemp extract, today announced its endorsement of the Industrial Hemp Farming Act of 2017, which was introduced by Congressman James Comer (KY-01) today in the U.S. House of Representatives.

“We applaud the introduction of the Industrial Hemp Farming Act of 2017, which will further distinguish industrial hemp as a distinct product and enable states across the U.S. to benefit from the agricultural and manufacturing growth generated by the production of hemp,” said Eric Wang, Chief Executive Officer of Ananda Hemp. “Ananda Hemp was the first U.S. company to be licensed as a hemp producer under Section 7606 of the 2014 Farm Bill, and has since worked closely with the Kentucky Department of Agriculture to produce the most compliant and rigorously tested hemp-derived products on the market. We have led the charge for legalization since 2013, and are thankful that Congressman Comer and his bipartisan colleagues have taken steps to ensure a long life for the hemp industry in the U.S.”

“Industrial hemp has the potential to be a thriving industry in Kentucky and across the U.S. Since the hemp pilot program was introduced in 2014, Ananda Hemp has grown more than 1000 acres of hemp, created numerous local jobs and brought more than $10 million in economic investment into our state,” said Brian Furnish, Director of Global Production at Ananda Hemp, former chairman of the Kentucky Hemp Commission and an eighth-generation Kentucky farmer. “Unlike many other hemp products that use non-certified genetics or untraceable sources of cannabidiol from outside the U.S., our products are grown and manufactured in Kentucky and are traceable from seed to sale. The Industrial Hemp Farming Act is a significant step toward our goal of formalizing market clarity and legalizing hemp so that fully-compliant producers like Ananda Hemp can provide high-quality products to benefit people across the U.S.”

"I'm glad to file the Industrial Hemp Farming Act of 2017 after getting a bipartisan consensus of Congressmen on board,” said Congressman Comer. “This will be my priority legislation and I look very forward to working with Brian Furnish --just as we did in Kentucky-- to pass this important pro-hemp legislation."

The U.S. is the world's largest consumer of industrial hemp; however, American farmers are federally prohibited from growing hemp due to regulations set forth by the Controlled Substances Act (CSA). The CSA bans the production of cannabis species, which includes hemp and its cousin marijuana. While hemp and marijuana are derived from the same plant species, there are stark differences between the two.

Marijuana, which is typically grown indoors, is encouraged to become short and bushy, and to grow flowers that contain high amounts of the psychoactive cannabinoid tetrahydrocannabinol (THC). THC levels in marijuana flowers, which are harvested for recreational and medicinal use, can contain between 10 and 30 percent THC. Conversely, hemp is grown naturally outdoors to become tall and hardy plants. Hemp contains multiple nutrient rich terpenes, phytonutrients and cannabinoids, but is not psychoactive and contains less than 0.3 percent THC. The seed and stalk of hemp plants can be used for a range of products, from textiles to body care and nutritional supplements.

While the CSA is still a challenge for the cannabis industry, Section 7606 of the 2014 Farm Bill defines industrial hemp as distinct from marijuana. Section 7606 allows for specific growers and producers to grow, cultivate and commercially market hemp under an agricultural pilot program or other agricultural or academic research program. As a result, 31 states, including Kentucky, are legally allowed to grow hemp, but do so under highly restrictive conditions. 

The Industrial Hemp Farming Act exempts industrial hemp from the CSA’s definition of marijuana, creates a new category for hemp research at universities and state departments of agriculture, and allows for further commercialization of industrial hemp crops.

About Ananda Hemp

Ananda Hemp manufactures legal, non-psychoactive, full-spectrum hemp extract that harnesses the benefits of cannabinoids (CBD and several others). Derived from Kentucky-grown hemp, the full spectrum of CBD and other cannabinoids in Ananda Hemp’s Spectrum 200 oil, Spectrum 600 oil and Spectrum 900 softgels allows users to experience the benefits of the entourage effect of natural plants grown outdoors.

Ananda Hemp is a fully owned subsidiary of the Australian based company Ecofibre. Learn more at https://www.anandahemp.com.

CONTACT: Contacts                                                               John Ryan Director, Ananda Hemp 858-405-8615 john@anandahemp.com               Media: Laura Bagby                      6 Degrees Communications 312-448-8098 lbagby@6degreespr.com

Categories: State

Signal Bay Enters into Definitive Agreement to Acquire Viridis Analytics MA, LLC

27 July 2017 - 7:00am

Bend, OR, July 27, 2017 (GLOBE NEWSWIRE) -- Signal Bay, Inc. (OTCQB: SGBY) a leading provider of cannabis testing and advisory services announced today it has signed a definitive agreement to acquire Viridis Analytics MA, LLC., a cannabis testing laboratory located in Southborough, Massachusetts.  Financial terms were not disclosed.  The transaction is subject to customary closing conditions, and is expected to close no later than July 31, 2017.

CEO Mr. William Waldrop stated, "We are excited to complete the acquisition initially announced last month.   This will increase EVIO’s footprint to one of the fastest growing cannabis markets on the East Coast, and will provide a foundation for further expansion.  The ArcView group forecasts the Massachusetts cannabis industry could reach $1.1 billion by 2020.”

According to the Massachusetts Executive Office of Health and Human Services (EOHHS), May 31, 2017 report, there are currently 11 Registered Marijuana Dispensaries and 100 with provisional certificates awaiting approval to open.  Last November during the general election, voters overwhelming approved recreational marijuana which is currently targeted to be effective July 1, 2018.  Mr. Waldrop commented previously that EVIO Labs estimates the Massachusetts total lab testing market is expected to exceed $30 million by 2020.

“As the cannabis industry matures, accredited testing labs are becoming a mandatory part of the cannabis supply chain,” Mr. Waldrop continued, “This marks the third state in which EVIO Labs currently operates, and it plans to expand to several more states during the next two years.”

About Signal Bay

Signal Bay, Inc. (the “Company”) is an Oregon-based life sciences company. Through its three subsidiaries: EVIO Labs, Signal Bay Research, and Signal Bay Services, the Company provides analytical testing services, management advisory services and scientific research to the legal cannabis industry. The Company's EVIO Labs division operates state-of-the-art facilities and offers accredited testing methodologies to ensure the safety and quality of the nation's cannabis supply. Learn more at http://www.signalbay.com or the Company can be reached directly @ 1-888-544-EVIO.

Safe Harbor Statement

Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements. These forward-looking statements by their nature are estimates of future results only and involve substantial risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, our ability to complete our product testing and launch our product commercially, the acceptance of our product in the marketplace, the uncertainty of the laws and regulations relating to cannabis, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed from time to time in our reports filed with the Securities and Exchange Commission, available at www.sec.gov or www.signalbay.com

CONTACT: Investor Relations: investors@signalbay.com
Categories: State

Navient Foundation contributes $10,000 to Osterhout Free Library to support literacy skills for Luzerne County families

26 July 2017 - 8:14am

WILKES-BARRE, Pa., July 26, 2017 (GLOBE NEWSWIRE) -- Osterhout Free Library, one of the oldest libraries in Northeastern Pennsylvania, will undergo enhancements to help support the needs of area youth, thanks in part to a local employer’s support. As part of the Luzerne County Library System, the facility provides materials and services to children and families, enabling them to obtain information free of charge for their personal, educational, recreational and professional needs.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/24bdd088-822b-475d-bc56-2461c134eb8b

Navient Foundation, the company-sponsored philanthropic fund, announced a $10,000 contribution to help bolster the library’s literacy development pursuits, technology upgrades and genealogy and ancestry programs. The company’s foundation has supported the library since 2001.

“The Osterhout Free Library is proud to partner with the Navient Foundation to foster literacy development for children and young adults,” said Rick Miller, executive director, Osterhout Free Library. “The generous donation will enhance library services and literacy skills to preschool-aged children, teenagers, families and caregivers in the community, plus help struggling young readers improve their reading habits and skills.”

The library offers a variety of programs to support literacy development for children and young adults that may otherwise be inaccessible due to financial or employment barriers of parents. Programs include Mommy & Me, where mothers read to their child, as well as Read to a Dog, which helps children overcome reading and speech difficulties by reading to a canine companion. Contributions will help purchase new books and other materials to support these and other programs.

Poetry workshops and book discussions are also available to help promote literacy skills for adolescents. In addition, the library hosts Teen Night every Wednesday, offering activities to get teens involved with the library and community. Grant funds will assist in the purchase of new computers, books and gaming equipment to enhance the library’s experience for that age group.  

In addition, the company’s contribution will provide additional training for the library’s genealogy and ancestry programs, allowing access to family and local history.

“Our libraries are an important environment for nurturing literacy skills, such as reading and writing, and can be gateways to exploring other cultures and places unfamiliar to our own,” said Lisa Stashik, vice president, Navient. “We’re grateful to have the historic Osterhout Free Library in our community, enriching the lives of our residents day after day.”

Learn more about the Osterhout Free Library.

Connect with @Navient on Facebook, Twitter, LinkedIn and Medium.

About Navient
Navient (Nasdaq:NAVI) is a leading provider of asset management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels. The company helps its clients and millions of Americans achieve financial success through services and support. Headquartered in Wilmington, Delaware, Navient employs team members in western New York, northeastern Pennsylvania, Indiana, Tennessee, Texas, Virginia, and other locations. Learn more at navient.com.

CONTACT: Media: Nick LaMastra, 302-283-2964, nicholas.lamastra@navient.com
Categories: State

Unite Private Networks Announces Grand Island Small Cell Deployment

25 July 2017 - 9:30am

LINCOLN, Neb., July 25, 2017 (GLOBE NEWSWIRE) -- Unite Private Networks (UPN), a leading provider of high-capacity, fiber-based communication networks is pleased to announce a small cell expansion project in Grand Island, NE. The deployment is in support of a major wireless carrier.

The new infrastructure extends throughout the Fonner Park campus, home to the Nebraska State Fair. It adds to UPN’s already extensive fiber network in Grand Island, giving business customers more access to dark fiber or lit services that are scalable from 100 mbps to 100 gbps, as well as a suite of other products.

“The Grand Island small cells will improve 4G data connectivity, resulting in improved wireless voice, video and data services, allowing people to connect in areas they need it the most,” said Shannan Heinzle, Director of Carrier Sales at Unite Private Networks. “Small cell networks add capacity in targeted areas to improve in-building coverage, voice quality, reliability, and data speeds for local residents, businesses, first responders and visitors. For the Nebraska State Fair this means speedier business transactions, faster social media posts and the wireless capacity to support the many visitors that come to Grand Island.”

“Grand Island welcomes hundreds of thousands of business and recreational visitors to the community every year,” said Mary Berlie, Executive Vice President at the Grand Island Chamber. “We are excited to have Unite Private Networks expand their existing small cell installations in support of wireless carriers 4G data connectivity at the Fonner Park campus. This expansion will assist not only our visitors, but our existing business community to continue to connect during high traffic times.”

“As a result of this expansion we will be able to reach additional business customers in the Grand Island area,” said Cliff McDow, Regional Sales Director at UPN. “We look forward to providing Grand Island businesses even more access to the suite of UPN products, including Ethernet, wavelength services, Internet, and dark fiber.”

About Unite Private Networks: UPN provides high-bandwidth, fiber-based communications networks and services to schools, governments, carriers, data centers, hospitals, and enterprise business customers across a 20 state service area. Service offerings include dark and lit fiber, private line, metro-optical Ethernet, Internet access, data center services, and other customized solutions. Headquartered in Kansas City, MO, UPN has been providing customer focused communications solutions since 1998. For more information on UPN, please visit www.uniteprivatenetworks.com, or connect with us on Twitter and LinkedIn.

CONTACT: Media Contact: Brandi Tubb 816-903-9400 brandi.tubb@upnfiber.com
Categories: State

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