NEWS

Rand Merchant Bank (RMB): African Risk is not Fairly Priced - Governments Should Take Advantage (By Miranda Abraham)

Retrieved on: 
Tuesday, November 7, 2023

Banks do this knowing that they will also be able to persuade other relationship banks to join the deal as well.

Key Points: 
  • Banks do this knowing that they will also be able to persuade other relationship banks to join the deal as well.
  • Difficulties in assessing risk: It can be difficult to assess the credit risk of African borrowers.
  • As a result of these factors, African risk is often not being priced fairly.
  • African banks and investors are desperate for assets and are very comfortable assessing and understanding sub investment grade African risk.

HII’s Newport News Shipbuilding Continues Hiring Push with Community Events

Retrieved on: 
Friday, November 3, 2023

NEWPORT NEWS, Va., Nov. 03, 2023 (GLOBE NEWSWIRE) -- HII’s (NYSE: HII) Newport News Shipbuilding division continues to make progress in the area of workforce development acceleration, and is meeting hiring demand for skilled trades positions through community outreach efforts and on-site hiring events.

Key Points: 
  • NEWPORT NEWS, Va., Nov. 03, 2023 (GLOBE NEWSWIRE) -- HII’s (NYSE: HII) Newport News Shipbuilding division continues to make progress in the area of workforce development acceleration, and is meeting hiring demand for skilled trades positions through community outreach efforts and on-site hiring events.
  • Additionally, attendees were able to tour the shipyard’s digital shipbuilding mobile experience trailer, interacting with the tools used by HII’s next generation workforce.
  • “As we continue to make intentional investments to meet our hiring needs, community events like this are instrumental to that effort.
  • The shipyard is hosting “Walk-in Wednesday” trade hiring events every Wednesday through Dec. 13.

Fairfax India Holdings Corporation: Third Quarter Financial Results

Retrieved on: 
Thursday, November 2, 2023

TORONTO, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Fairfax India Holdings Corporation (TSX: FIH.U) announces net earnings of $133.0 million in the third quarter of 2023 ($0.93 net earnings per diluted share), compared to net earnings of $112.6 million in the third quarter of 2022 ($0.79 net earnings per diluted share).

Key Points: 
  • The financial results are derived from financial statements prepared using the recognition and measurement requirements of International Financial Reporting Standards as issued by the International Accounting Standards Board ("IFRS"), except as otherwise noted, and are unaudited.
  • TORONTO, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Fairfax India Holdings Corporation (TSX: FIH.U) announces net earnings of $133.0 million in the third quarter of 2023 ($0.93 net earnings per diluted share), compared to net earnings of $112.6 million in the third quarter of 2022 ($0.79 net earnings per diluted share).
  • The company recorded a performance fee of $20.5 million for the third quarter of 2023 and at September 30, 2023 had accrued $82.6 million to the benefit of Fairfax Financial Holdings.
  • Fairfax India is in strong financial health, with cash and marketable securities of approximately $261 million.

Earthworks Announces Closing of Private Placement of Units for Gross Proceeds of $1.5 Million

Retrieved on: 
Thursday, November 2, 2023

VANCOUVER, British Columbia, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Earthworks Industries Inc. (TSXV:EWK) (the “Company”) is pleased to announce that it has closed its previously announced commercially reasonable efforts private placement offering of an aggregate of 7,500,000 units (the “Units”) at a price of $0.20 per Unit (the “Issue Price”) for aggregate gross proceeds of $1,500,000 (the “Offering”). Each Unit consists of one common share in the capital of the Company (each, a “Common Share”) and one common share purchase warrant of the Company (each, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one additional Common Share at a price of C$0.40, subject to adjustment in certain events, at any time until November 2, 2025.

Key Points: 
  • VANCOUVER, British Columbia, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Earthworks Industries Inc. (TSXV:EWK) (the “Company”) is pleased to announce that it has closed its previously announced commercially reasonable efforts private placement offering of an aggregate of 7,500,000 units (the “Units”) at a price of $0.20 per Unit (the “Issue Price”) for aggregate gross proceeds of $1,500,000 (the “Offering”).
  • The Company intends to use the net proceeds of the Offering for working capital, general corporate purposes, to pay outstanding accounts payable, and to pay a debt extension fee.
  • David Russell, an "insider" and Chief Financial Officer of the Company, has subscribed for 100,000 Units under the Offering for aggregate gross proceeds of $20,000.
  • The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101.

HII Reports Third Quarter 2023 Results

Retrieved on: 
Thursday, November 2, 2023

Record third quarter revenues of $2.8 billion, up 7.2% compared to third quarter 2022

Key Points: 
  • Record third quarter revenues of $2.8 billion, up 7.2% compared to third quarter 2022
    New contract awards of $5.4 billion, resulting in backlog of approximately $49 billion
    NEWPORT NEWS, Va., Nov. 02, 2023 (GLOBE NEWSWIRE) -- HII (NYSE:HII) reported third quarter 2023 revenues of $2.8 billion, up 7.2% from the third quarter of 2022, driven primarily by growth at its Mission Technologies and Ingalls Shipbuilding segments.
  • Operating income in the third quarter of 2023 was $172 million and operating margin was 6.1%, compared to $131 million and 5.0%, respectively, in the third quarter of 2022.
  • Segment operating income1 in the third quarter of 2023 was $187 million and segment operating margin1 was 6.6%, compared to $166 million and 6.3%, respectively, in the third quarter of 2022.
  • New contract awards in the third quarter of 2023 were $5.4 billion, bringing total backlog to approximately $49 billion as of September 30, 2023.

THE NEWS FORUM airs “BEHIND THE CURTAIN” about NHL’s elite players Saturday November 4 and Sunday November 5 at 8PM Eastern

Retrieved on: 
Thursday, November 2, 2023

The News Forum, is thrilled to announce the premiere of "BEHIND THE CURTAIN" as it takes you deep into the heart of the NHL's elite players.

Key Points: 
  • The News Forum, is thrilled to announce the premiere of "BEHIND THE CURTAIN" as it takes you deep into the heart of the NHL's elite players.
  • The documentary invites viewers to witness the grit, sweat, and dreams of professional athletes as they navigate the high-stakes world of elite sports.
  • Audiences across the nation are invited to witness this incredible story of passion, dedication, and community on November 4 and November 5 at 8PM Eastern on THE NEWS FORUM.
  • "We are incredibly excited to bring 'BEHIND THE CURTAIN' to our viewers," said Tore Stautland, CEO of The News Forum.

Brookfield Raises Record $6 Billion For Global Infrastructure Debt Investments

Retrieved on: 
Thursday, November 2, 2023

BROOKFIELD, NEWS, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Brookfield Asset Management (“Brookfield”) announced today the closing of its global infrastructure debt program, Brookfield Infrastructure Debt Fund III (“BID III” or the “Fund”).

Key Points: 
  • BROOKFIELD, NEWS, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Brookfield Asset Management (“Brookfield”) announced today the closing of its global infrastructure debt program, Brookfield Infrastructure Debt Fund III (“BID III” or the “Fund”).
  • With capital commitments exceeding $6 billion, including over $400 million in discretionary co-investment capital, BID III is the world’s largest private infrastructure debt fund.
  • Brookfield has committed $600 million to the Fund, underscoring the firm’s alignment of interests with other investors.
  • BID III has already deployed over 50% of its commitments, having made investments across its core infrastructure sectors, including the renewable power and data infrastructure sectors.

HII Increases Quarterly Dividend to $1.30 per Share

Retrieved on: 
Wednesday, November 1, 2023

NEWPORT NEWS, Va., Nov. 01, 2023 (GLOBE NEWSWIRE) -- HII (NYSE: HII) announced today that its Board of Directors has declared a quarterly cash dividend of $1.30 per share, a $0.06 increase over the $1.24 per share dividend paid in each of the prior four quarters.

Key Points: 
  • NEWPORT NEWS, Va., Nov. 01, 2023 (GLOBE NEWSWIRE) -- HII (NYSE: HII) announced today that its Board of Directors has declared a quarterly cash dividend of $1.30 per share, a $0.06 increase over the $1.24 per share dividend paid in each of the prior four quarters.
  • The $1.30 per share dividend will be payable on Dec. 8, 2023, to shareholders of record as of the close of business on Nov. 24, 2023.
  • HII is a global, all-domain defense provider.
  • As the nation’s largest military shipbuilder, and with a more than 135-year history of advancing U.S. national security, HII delivers critical capabilities extending from ships to unmanned systems, cyber, ISR, AI/ML and synthetic training.

Traction Uranium Amends LIFE Offering; Announces Additional Private Placement of Flow-Through Units

Retrieved on: 
Saturday, October 28, 2023

CALGARY, Alberta, Oct. 27, 2023 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTCQB: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) announces amendments to the terms of its non-brokered private placement financing pursuant to the listed issuer financing exemption (the “LIFE Exemption”) under Part 5A.2 of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”) previously announced on September 27, 2023 (the “LIFE Offering”); and further announces an additional non-brokered private placement of up to 5,714,285 flow-through units of the Company (the “FT Units”) for gross proceeds of up to $1,000,000 (the “FT Units Offering”).‎

Key Points: 
  • The net proceeds of the LIFE Offering are intended to be used to advance the Company’s three flagship uranium projects in the Athabasca Region and for other general corporate purposes.
  • Finders’ fees may be payable to eligible arm’s length persons with respect to certain subscriptions accepted by the Company.
  • Therefore, the securities issued in connection with the LIFE Offering will not be subject to resale restrictions in accordance with applicable Canadian securities laws.
  • The securities comprising the FT Units will be subject to a hold period expiring four months and one day from the date of the applicable closing of the FT Units Offering.

AgileAI Labs, Inc. Explodes onto the Enterprise Software Development Scene with the Launch of Spec2TestAI™ - Where Agile Meets Intelligence

Retrieved on: 
Thursday, October 26, 2023

AgileAI Labs, Inc., a leading Generative AI software development solutions company, announced the release of its premiere Defect Prevention Platform, Spec2TestAI™ on October 16, 2023.

Key Points: 
  • AgileAI Labs, Inc., a leading Generative AI software development solutions company, announced the release of its premiere Defect Prevention Platform, Spec2TestAI™ on October 16, 2023.
  • The launch of Spec2TestAI™ brings the first GenAI SaaS tool to market boasting up to a 40% cost reduction in Software Development Project costs.
  • "When project stakeholders don't have the tools they need to identify and prevent failures before the software lifecycle begins, all invested parties are adversely impacted," said Scott Aziz, Founder and Chief Technology Officer at AgileAI Labs, Inc. "Humans are good at analyzing things.
  • Spec2TestAI™, is a Defect Prevention Tool tackling the 4.3 Trillion Dollar software quality problem one project team at a time."