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Great Elm Capital Corp. Announces Acquisition of Majority Interest in Lenders Funding, LLC

Monday, September 20, 2021 - 9:05pm

WALTHAM, Mass., Sept. 20, 2021 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (we, us, our, or GECC,) (NASDAQ: GECC), a business development company, today announced that it has acquired a majority equity interest in Lenders Funding, LLC (Lenders Funding) a private funding and risk sharing source for factors and asset-based lenders.

Key Points: 
  • WALTHAM, Mass., Sept. 20, 2021 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (we, us, our, or GECC,) (NASDAQ: GECC), a business development company, today announced that it has acquired a majority equity interest in Lenders Funding, LLC (Lenders Funding) a private funding and risk sharing source for factors and asset-based lenders.
  • The proceeds from the transaction will be retained by Lenders Funding to help support the growth of the business.
  • Peter A. Reed, GECCs Chief Executive Officer, stated, We are pleased to announce the acquisition of a majority interest in Lenders Funding as we continue to weight our portfolio more heavily toward specialty finance.
  • Since its formation, Lenders Funding has worked with over 150 lenders and factors and have supplied several hundred million dollars in funding.

Shell signs agreement to sell Permian interest for $9.5 billion to ConocoPhillips

Monday, September 20, 2021 - 9:35pm

The transaction will transfer all of Shells interest in the Permian to ConocoPhillips, subject to regulatory approvals.

Key Points: 
  • The transaction will transfer all of Shells interest in the Permian to ConocoPhillips, subject to regulatory approvals.
  • Shells Permian business includes ownership in approximately 225k net acres with current production of around 175 thousand barrels equivalent per day.
  • In this announcement, Shell, Shell Group and Group are sometimes used for convenience where references are made to Royal Dutch Shell plc and its subsidiaries in general.
  • The term Shell interest is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

ConocoPhillips Announces Significant Enhancement to Multi-Year Plan with All-Cash Permian Asset Acquisition; Increases Ordinary Dividend; Improves 2030 Emissions Intensity Reduction Target

Monday, September 20, 2021 - 9:55pm

The actions include:

Key Points: 
  • The actions include:
    A complementary, highly accretive acquisition of Shell Enterprises LLCs prolific Delaware basin position for $9.5 billion in cash.
  • In conjunction with this transaction, the company also announced it will improve its Scope 1 and 2 GHG emissions intensity reduction targets.
  • The prior 2030 reduction target of 35-45% on a gross operated basis will be increased to 40-50%, versus a 2016 baseline, on both a net equity and gross operated basis.
  • The transaction will be funded from available cash while still retaining a significant level of cash on the balance sheet for general purposes.

Spirit AeroSystems Highlights Benefits of Digital Design and Advanced Manufacturing Solutions

Monday, September 20, 2021 - 9:11pm

Spirit AeroSystems, Inc. (Spirit or Spirit AeroSystems), a wholly owned subsidiary of Spirit AeroSystems Holdings, Inc. (NYSE: SPR), is highlighting the companys industry leading accomplishments in digital and advanced manufacturing solutions at the 2021 Air Force Association Air, Space and Cyber Conference.

Key Points: 
  • Spirit AeroSystems, Inc. (Spirit or Spirit AeroSystems), a wholly owned subsidiary of Spirit AeroSystems Holdings, Inc. (NYSE: SPR), is highlighting the companys industry leading accomplishments in digital and advanced manufacturing solutions at the 2021 Air Force Association Air, Space and Cyber Conference.
  • Spirit AeroSystems is helping customers transform production by connecting factories across design and production to orchestrate people and processes.
  • Digital engineering and advanced manufacturing are key components of Spirits defense diversification strategy and will remain core areas of investment going forward, Hein said.
  • With expertise in aluminum and advanced composite manufacturing solutions, the companys core products include fuselages, integrated wings and wing components, pylons, and nacelles.

Valaris Announces Jackup Contract Awards

Monday, September 20, 2021 - 9:30pm

Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") announced today that it has been awarded a contract with TAQA offshore the Netherlands for VALARIS JU-123, a heavy-duty harsh environment jackup.

Key Points: 
  • Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") announced today that it has been awarded a contract with TAQA offshore the Netherlands for VALARIS JU-123, a heavy-duty harsh environment jackup.
  • The contract is expected to commence in the fourth quarter of 2021 with an estimated minimum duration of 60 days.
  • In conjunction with this contract, VALARIS JU-123 will be upgraded with a selective catalytic reduction (SCR) system.
  • Valaris has also been awarded a one-well contract with Carnarvon Petroleum offshore Timor-Leste for VALARIS JU-107, a heavy-duty modern jackup.

SAIC Announces New Industry-Leading Employee Benefits For 2022

Monday, September 20, 2021 - 9:15pm

Science Applications International Corp. (NYSE: SAIC ) today announced a new array of expanded and additional employee benefits for calendar year 2022, designed to provide greater work flexibility, commemorate the Juneteenth holiday and enhance support for employees and their families.

Key Points: 
  • Science Applications International Corp. (NYSE: SAIC ) today announced a new array of expanded and additional employee benefits for calendar year 2022, designed to provide greater work flexibility, commemorate the Juneteenth holiday and enhance support for employees and their families.
  • I am proud that we are providing these market-leading benefits in support of the well-being of our employees and their families.
  • Beginning in 2022, SAIC is enhancing its employee benefits to include the following measures:
    Expanding flexible work In addition to supporting greater telecommuting and hybrid work options, SAIC is introducing a 4-day workweek and other alternative work schedule options for its employees.
  • SAIC is honored to be one of the first in the industry to recognize this historically significant day as a paid holiday.

Founder Jeff Maser Steps Down as CEO and Director and Joins Advisory Board; Richard Gillis Appointed as President and Chief Operating Officer, Tinley USA and Joins Newly Created Office of The CEO

Monday, September 20, 2021 - 8:37pm

The Company also announces that Founder and CEO, Jeff Maser, has stepped down from his role as CEO and director and will join the Companys advisory board.

Key Points: 
  • The Company also announces that Founder and CEO, Jeff Maser, has stepped down from his role as CEO and director and will join the Companys advisory board.
  • Prior to joining Tinley, Rick Gillis served as General Manager, Coca-Cola Enterprises for the Southwest US.
  • In this capacity, Mr. Gillis oversaw thousands of employees in multiple bottling, distribution and sales facilities for one of the companys largest regional business units.
  • He subsequently served as President of Youngs Market Company which, under his tenure, was the second-largest beverage alcohol distributor in the Western USA.

Logiq Joins Forces with Novaji Introserve to Offer Home Delivery and Mobile Fintech Services to Millions of Underserved and Unbanked in Nigeria

Monday, September 20, 2021 - 3:15pm

As a government-licensed value-added services and fintech provider, Novaji would deploy Logiqs GoLogiq and PayLogiq platforms to offer home delivery services, mobile digital wallet and point of sale, micro-lending, and other mobile fintech products and services.

Key Points: 
  • As a government-licensed value-added services and fintech provider, Novaji would deploy Logiqs GoLogiq and PayLogiq platforms to offer home delivery services, mobile digital wallet and point of sale, micro-lending, and other mobile fintech products and services.
  • About 56 million or 56% of Nigerian adults remained unbanked, while according to a recent survey , 81 percent now own a mobile phone.
  • This presents mobile financial services as the ideal pathway to bring more of the population into the national financial system.
  • Joining forces with Novaji marks our first foray into emerging markets outside of Indonesia, stated Logiq president, Brent Suen.

Veltex Corporation Appoints Thomas S. Bailey Chief Operating Officer

Monday, September 20, 2021 - 2:00pm

CHICAGO, Sept. 20, 2021 /PRNewswire/ -- Veltex Corporation -- OTC Markets symbol (VLXC) -- Veltex Corporation ("the Company") announced today the appointment of Thomas S. Bailey as Chief Operating Officer of the Company effective immediately.

Key Points: 
  • CHICAGO, Sept. 20, 2021 /PRNewswire/ -- Veltex Corporation -- OTC Markets symbol (VLXC) -- Veltex Corporation ("the Company") announced today the appointment of Thomas S. Bailey as Chief Operating Officer of the Company effective immediately.
  • Mr. Bailey will also join the Board of Directors of Veltex Medical, Inc., a wholly owned Delaware subsidiary of the Company.
  • Mr. Bailey worked in government relations for Spilman, Thomas and Battle, PLLC and is an active state and federal lobbyist.
  • Veltex Corporation, incorporated in Utah September 17, 1987, is a registered public holding corporation, which maintains its corporate headquarters in Chicago, Illinois.

Tombill Mines Confirms Continuance of the F-Zone Extension Over Its Flagship Property, Discovers New High Grade F2-Zone, and Starts Shallow Drilling

Monday, September 20, 2021 - 1:42pm

This program is focussed on the western strike extension of neighbouring Hardrock Project's robust F-Zone.

Key Points: 
  • This program is focussed on the western strike extension of neighbouring Hardrock Project's robust F-Zone.
  • Results since our press release of June 17, 2021:
    TB21-005B was drilled to test the F-Zone 50m above the TB21-005A intercept.
  • The drill hole intersected the F-Zone with 4.1m of 8.15 gpt gold with multiple VG specks.
  • This mineralized zone, the F2-Zone, had two very significant intervals with 2.0m at 13.88 gpt gold and 3.0m at 9.17 gpt gold.