DRONE DELIVERY CANADA SIGNS AGREEMENT WITH UBC FOR REMOTE COMMUNITIES DRONE TRANSPORTATION INITIATIVE
TORONTO, ONTARIO – July 15th, 2021 – Drone Delivery Canada Corp. (TSXV: FLT; OTC QX: TAKOF; Frankfurt: A2AMGZ or ABB.F) (the “Company” or “DDC”) is pleased to announce that, with the assistance of its sales agent Air Canada (TSX: AC), it has signed a commercial, definitive agreement, effective July 15th, 2021, with the University of British Columbia (“UBC”) to deploy DDC’s patented drone delivery solution at the Stellat’en First Nation for UBC’s ‘Remote Communities Drone Transportation Initiative’ (“DTI”) program.
The project will enable defined-route deliveries utilizing DDC’s Sparrow drone and its DroneSpot® takeoff and landing zones as well as additional drone flight infrastructure as required. The solution will be used to transport a variety of cargo for the benefit of the Stellat’en First Nation and the Village of Fraser Lake, located in Central Northern British Columbia, Canada.
DDC is expected to commence deployment of site infrastructure summer of 2021 and expects to begin providing drone delivery services under the agreement in the second half of 2021. The term of the agreement is 12 months. This deployment will be DDC’s fourth First Nations project and its first in British Columbia.
All operations will be conducted in accordance with appropriate Canadian regulations. Flights will be remotely monitored by DDC from its Operations Control Centre located in Vaughan, Ontario.
“We’re pleased to have finalized our contract with Drone Delivery Canada and to be moving on to the next stage of this project. As we transition into a new phase of the COVID-19 pandemic, and with the risk of wildfires, we are looking forward to learning about how this innovative transportation technology can be used to meet community needs and help address inequities in access to health-care supplies and services,” said Dr. Michael Allard, Vice Dean, Health Engagement, UBC Faculty of Medicine.”
“Based on the isolated location of our community and the needs of our residents, drone transport may enhance our access to COVID-19 testing and medication without traveling and endangering other members of our community,” said Chief Robert Michell of the Stellat’en First Nation, located about 100 kilometres west of Prince George. “The futuristic potential of this initiative is exciting. With drone technology, there is so much you can do.”
“We are pleased to sign this definitive agreement with UBC for their ‘Remote Communities Drone Transportation Initiative’ at the Stellat’en First Nation. The UBC Faculty of Medicine is a recognized global leader and we applaud their initiative to embrace drone delivery to benefit First Nations communities. We also look forward to working with LifeLabs as an important partner in this project. LifeLabs will be supporting the project to ensure an end-to-end solution by participating in data evaluations, sample logistics and training,” said Michael Zahra, President CEO of DDC. “As an award-winning global leader, DDC is pleased with our continued business successes in the drone delivery industry.”
“Improved delivery times of essential supplies to remote locations can make all the difference in protecting the Stellat’en First Nation community and saving lives,” said Charles Brown, President and CEO of LifeLabs. “We are proud to be participating in this project that will also help to advance our knowledge for the future use of drone technology to transport clinical materials and samples for lab testing.”
Additionally, the Company is pleased to announce that it is working on the next generation Sparrow delivery drone, in response to market demand. The current Sparrow has been successfully implemented at numerous commercial projects and will continue to be commercially available. The next generation Sparrow is already well into development and is expected to have the same range of 30km and payload capability of 4.5kg, along with next generation motor technology, next generation battery technology, touchless cargo drop functionality, an optional public announcement system and an optional aircraft parachute. The new functionality is expected to further address customer demands and evolving regulatory requirements.
The Company expects to reallocate Robin XL engineering resources to focus on completing the next generation Sparrow and Condor development, testing and commercialization as priorities, based on expected market demand in Canada and internationally. The Company will look to complete the Robin XL commercialization as market demands may indicate.
LifeLabs is Canada’s leading provider of laboratory diagnostic information and digital health connectivity systems, enabling patients and health care practitioners to diagnose, treat, monitor, and prevent disease. We support 20 million patient visits annually and conduct over 100 million laboratory tests through leading edge technologies and our 6,000 talented and dedicated employees. We are a committed innovator in supporting Canadians to live healthier lives, operating Canada’s first commercial genetics lab, and the country’s largest online patient portal, with more than 5 million Canadians receiving their results online. LifeLabs is 100% Canadian owned by OMERS Infrastructure, the infrastructure investment manager of one of Canada’s largest defined benefit pension plans. Learn more at lifelabs.com .
Drone Delivery Canada Corp. is an ISO 9001 certified, award-winning drone technology company focused on the design, development, and implementation of its proprietary logistics software platform, using drones. The Company’s platform is used as a Software as a Service (SaaS) model for government and corporate organizations globally.
Drone Delivery Canada Corp. is a publicly listed company trading on the TSX.V Exchange under the symbol FLT, on the U.S. OTC QX market under the symbol TAKOF and on the Frankfurt exchange in Germany under the symbol A2AMGZ or ABB.F .
Investor Relations: Mr. Michael Zahra, President Chief Executive Officer, and Mr. Bill Mitoulas, Telephone: (416) 479-9547, Email: billm@dronedeliverycanada.com;
Media Relations: Mr. Nelson Hudes, Hudes Communications International, Telephone: (905) 660-9155, Email: nelson@hudescommunications.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. Such statements often address expected future business and financial performance, financial condition, and other matters, and often contain words or phrases such as “expect,” “may,” “can,” “believe,” “forecast,” “estimate,” “goal,” “target,” “will,” and other similar expressions, and variations or negatives of these words or phrases. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, market acceptance, and dependence upon regulatory approvals (both in Canada and internationally). Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward looking information. Except as may be required by applicable securities law, the parties undertake no obligation to update forward-looking information, whether as a result of new information, future events or otherwise.
DRONEDELIVERYCANADAANNOUNCES MULTIPLE AGREEMENTS FOR PROJECT AT EDMONTON INTERNATIONAL AIRPORT
TORONTO, ONTARIO – July 8th, 2021 – Drone Delivery Canada Corp. (TSXV: FLT; OTCQX: TAKOF; Frankfurt: A2AMGZ or ABB.F) (the “Company” or “DDC”) is pleased to announce that, with the assistance of its sales agent Air Canada (TSX: AC), it has entered into multiple commercial agreements executed by the Company on July 8th, 2021 (the “Agreements”) with each of Edmonton International Airport (“EIA”), Apple Express Courier Ltd and Ziing Final Mile Inc (“the Customers”) to deploy DDC’s patented drone delivery solution at Edmonton International Airport.
Pursuant to the terms of the Agreements, DDC will enable defined-route delivery from EIA to deliveries off airport property utilizing the Sparrow drone and its DroneSpot® takeoff and landing zones as well as additional drone flight infrastructure as required. The Customers will use DDC’s Sparrow delivery drone solution to transport a wide variety of cargo.
All operations will be conducted in accordance with appropriate Canadian regulations. Flights will be remotely monitored by DDC from its Operations Control Centre located in Vaughan, Ontario.
DDC will commence deployment of site infrastructure shortly and expects to begin providing drone delivery services under the commercial Agreements in Q3 of 2021. The Agreements provide for the payment from Customers of up-front fees and monthly fees for professional managed services for the project term of 12 months. This deployment will be the first use of an automatic delivery drone solution to provide B2B cargo delivery at Edmonton International Airport. It will be the Company’s first commercial contracts in Alberta and with courier companies.
The Customers envision expanding to further routes and utilizing the full fleet of DDC drones in the future, including the Robin XL and Condor.
“We are pleased that our partners have chosen Drone Delivery Canada as part of their mission to invest in new technology to advance the supply chain industry. To our knowledge, this is the first drone delivery project at a large-scale international airport anywhere in Canada. As an award-winning global leader, we are pleased to continue to advance our business, the industry overall and for our continued commercial success,” said Michael Zahra, President CEO of DDC.
“Edmonton International Airport knows that innovation is the key to future successes, and we can see that future in the sky ahead with Drone Delivery Canada and Air Canada Cargo. We look forward to working together with the regulatory agencies and our municipal partner Leduc County towards the safe operationalization of this project.” – Myron Keehn, Vice-President Air Service and Business Development, Edmonton International Airport.
“While the pandemic created an unprecedented spike in volume, we expect demand to continue, making advanced last-mile delivery systems paramount to meeting consumer expectations into the future. It’s energizing to be at the forefront of ecommerce, partnering with Drone Delivery Canada as an early adopter in drone technology. The knowledge and experience gained though this innovative program will benefit our customers in the new normal as restrictions begin to ease”, says Nasser Syed, CEO of same-day final mile service provider Apple Express.
“We’re excited to work with Drone Delivery Canada and unlock access for our clients to new and innovative technologies,” says Chris Higham, President and CEO of Ziing Final Mile Inc. “Our core competencies are centered around operational and environmental efficiencies, so this is a natural step in supporting our long-term vision.”
This announcement comes shortly after the Company recently announced on May 20th, 2021 being successfully selected by UBC for a First Nations project in British Columbia. UBC and DDC are working towards finalizing their commercial agreement shortly, for project implementation expected to commence in Q3 2021. The agreement is also expected to provide for the payment of an up-front fee and monthly fees for professional managed services for the expected project term of 12 months.
Edmonton International Airport is a self-funded, not-for-profit corporation whose mandate is to drive economic prosperity for the Edmonton Metropolitan Region. Edmonton Airports managed Edmonton International Airport (EIA), and owns and operates Villeneuve Airport (VA). EIA is Canada’s fifth-busiest airport by passenger traffic and the largest major Canadian airport by land area. EIA offers non-stop connections to destinations across Canada, the U.S., Mexico, the Caribbean, and Europe. EIA is a major economic driver and has attracted over $1.3 billion in investment to our property over the last few years. EIA’s Airport City Sustainability Campus is a living lab for accelerating the development, testing, implementation, and commercialization of technology. EIA’s Airport City Sustainability Campus propels new jobs, tourism, and economic diversification – and creates a destination in and around EIA, featuring entertainment, e-commerce, retail, hospitality, cargo/logistics, biopharma, light manufacturing and many other industries. For more information, please visit: www.flyeia.com
In 1985 Apple Express was established as a Toronto-based, local-delivery business. Strong leadership and a strategic vision enabled the company to achieve steady growth. With a view to the future, the company invested in emerging technology and infrastructure to service the world’s largest brands. Today, Apple Express provides its customers with strategic transportation and logistics services through the utilization of its people’s skills, processes, and technology. Its strategic goal is to take on and aggregate, more and more of its customers’ non-strategic processes, particularly as they relate to the “last mile” of their initial and ongoing relationship with their customers. Apple Express delivers highly customized, outsourced, SLA satisfaction and last-mile supply chain solutions for large healthcare, IT, and retail businesses. In 2016, Apple Express was acquired by a wholly owned subsidiary of bpost SA-NV, the Belgian-based international parcel and mail delivery service. For more information, please visit: www.appleexpress.com
Ziing Final Mile Inc. (Ziing) is a wholly owned Canadian company serving clients coast to coast. The Company is an asset light, same day and next day, final mile service provider focused on dedicated and distribution services in a wide range of industries. Ziing has expertise in routing, handling, and timely delivery that meets expectations for its clients and their customers by utilizing integrated, automated, and data-driven solutions. For more information, please visit: www.ziingfinalmile.ca
Drone Delivery Canada Corp. is an ISO 9001 certified, award-winning drone technology company focused on the design, development, and implementation of its proprietary logistics software platform, using drones. The Company’s platform is used in a Software as a Service (SaaS) model for government and corporate organizations globally.
Drone Delivery Canada Corp. is a publicly listed company trading on the TSX.V Exchange under the symbol FLT, on the U.S. OTC QX market under the symbol TAKOF and on the Frankfurt exchange in Germany under the symbol A2AMGZ or ABB.F .
Investor Relations: Mr. Michael Zahra, President Chief Executive Officer, and Mr. Bill Mitoulas, Telephone: (416) 479-9547, Email: billm@dronedeliverycanada.com;
Media Relations: Mr. Nelson Hudes, Hudes Communications International, Telephone: (905) 660-9155, Email: nelson@hudescommunications.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “forecast,” “estimate,” “goal,” “target,” “will,” and other similar words. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, market acceptance, and dependence upon regulatory approvals (both in Canada and internationally). Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward looking information. Except as may be required by applicable securities law, the parties undertake no obligation to update forward-looking information, whether as a result of new information, future events or otherwise.
DRONE DELIVERY CANADA AWARDED FIFTH PATENT FOR ITS PROPRIETARY DRONE DELIVERY SOLUTION
TORONTO, ONTARIO – July 7th, 2021 – Drone Delivery Canada Corp. (TSXV: FLT; OTC: TAKOF; Frankfurt: A2AMGZ or ABB.F) (the “Company” or “DDC”) is pleased to announce that on July 6th, 2021, the United States Patent Office granted U.S. Patent No. 11,053,021 for DDC’s U.S. Patent Application No. 15/796,214 titled ‘Unmanned Aerial Vehicle and Method for Indicating a Landing Zone’.
The patent is generally directed to DDC’s proprietary unmanned aerial vehicle (“UAV”) and a method of landing a UAV at a location. In particular, the patent is directed to a UAV that includes a light source for generating a light beam to define a pattern for a landing zone for the UAV. The light beam has a variable cone angle so that the landing zone indicated by the light source remains of substantially constant area as the UAV descends. A U.S. continuation application as well as a corresponding Canadian application are currently pending.
“We are pleased to announce our fifth United States Patent Office grant issued. This innovation could facilitate identifying an appropriate landing or cargo drop area on a variety of stationary or moving platforms and improve ground safety. As an innovation leader in the drone logistics industry, we continue to grow our intellectual property portfolio. And, with recently released customer announcements, we continue to mark commercial successes as well,” commented Michael Zahra, President CEO of Drone Delivery Canada. “On behalf of the Company, I would like to thank all of our dedicated staff who were integral to this patent accomplishment.”
DDC is currently seeking patent protection for other aspects of its technology.
Drone Delivery Canada Corp. is an ISO 9001 certified, award-winning drone technology company focused on the design, development, and implementation of its proprietary logistics software platform, using drones. The Company’s platform will be used as a Software as a Service (SaaS) model for government and corporate organizations globally.
Drone Delivery Canada Corp. is a publicly listed company trading on the TSX.V Exchange under the symbol FLT, on the U.S. OTCQX market under the symbol TAKOF and on the Frankfurt exchange in Germany under the symbol A2AMGZ or ABB.F .
Investor Relations: Mr. Michael Zahra, President Chief Executive Officer, and Mr. Bill Mitoulas, Telephone: (416) 479-9547, Email: billm@dronedeliverycanada.com;
Media Relations: Mr. Nelson Hudes, Hudes Communications International, Telephone: (905) 660-9155, Email: nelson@hudescommunications.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward Looking Information:
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “forecast,” “estimate,” “goal,” “target,” “will,” and other similar words. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, market acceptance, and dependence upon regulatory approvals (both in Canada and internationally). Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward looking information. Except as may be required by applicable securities law, the parties undertake no obligation to update forward-looking information, whether as a result of new information, future events or otherwise.
Michael Fasanello Joins BIG with AML, Global Sanctions, Risk Advisory Leadership Roles at Public and Private Institutions
VANCOUVER, British Columbia, June 29, 2021 — BIGG Digital Assets Inc. (“BIGG” or the “Company”) (CSE: BIGG, OTC: BBKCF, WKN: A2PS9W), owner of Blockchain Intelligence Group (blockchaingroup.io) (“BIG”), a leading developer of blockchain technology search, risk-scoring, and data analytics solutions, is pleased to announce the hire of Michael Fasanello, an AML and Global Sanctions subject matter expert (SME) from PNC Bank. Fasanello’s expertise will enhance BIG’s services and products for VASPs, financial institutions, and law enforcement agencies of all sizes. Mr. Fasanello holds a law degree in civil and criminal litigation.
“Global financial institutions are in a high-stakes game as they eye mass adoption of cryptocurrency. BIG gives confidence to businesses adopting cryptocurrency,” said Lance Morginn, President, BIG. “Michael Fasanello brings to BIG an unparalleled combination of public and private AML and global regulatory expertise to help guide BIG’s growth and create additional value for our clients around the world. Michael’s role demonstrates our commitment to growing BIG and further enhancing our product and service offering.”
At BIG, Fasanello will advise executive management on issues surrounding cryptocurrencies as the global markets and regulations evolve, lead insight on regulatory issues relating to cryptocurrencies, support new development of BIG’s Certified Cryptocurrency Investigator course (CCI), as well as lead training for public and private entities around the world.
Fasanello joins BIG from stints at the US Department of Treasury, PNC Bank, and First National Bank. At PNC, Fasanello was the Assistant Vice President of Anti-Money Laundering and Global Sanctions. Fasanello is an experienced compliance professional with over a decade of experience in the public and private sectors. He specializes in Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), global sanctions, and illicit finance, focusing on digital assets and blockchain intelligence space.
Fasanello served in various roles in the US Justice and Treasury Departments. During his work with FinCen, he advised the Office of Regulatory Policy in developing and interpreting federal regulations under the Bank Secrecy Act (BSA). Before that, Michael handled Global Economic Sanctions and embargo cases for the Treasury’s Office of Foreign Assets Control (OFAC).
The Company also reports that Robert Whitaker will be stepping down as COO to pursue new challenges in his professional career and within the cryptocurrency space. Mr. Whitaker’s last day is July 2, 2021.
Mr. Fasanello will take over a majority of Whitaker’s scope and responsibilities related to investigations, training, products, and services. William (Bill) J. Callahan III, previously announced, is taking over operational responsibilities.
“On behalf of the Board of BIGG, I would like to express our deep thanks and appreciation for Robert’s years of enthusiastic service, leadership, and dedication to BIG,” said CEO Mark Binns. “We wish Robert all the best in his future endeavours.”
The CSE does not accept responsibility for the adequacy or accuracy of this press release.
About BIGG Digital Assets Inc.
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG owns two operating companies: Blockchain Intelligence Group (blockchaingroup.io) and Netcoins (netcoins.ca).
Blockchain Intelligence Group (BIG) has developed a Blockchain-agnostic search and analytics engine, QLUE™, enabling Law Enforcement, RegTech, Regulators, and Government Agencies to visually track, trace and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified®, offers a risk score for cryptocurrencies, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements.
Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified® software at the heart of its platform and facilitates crypto trading via a self-serve crypto brokerage portal at Netcoins.app.
Certain statements in this release are forward-looking statements, which include completion of the search technology software and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIGG’s expectations include, consumer sentiment towards BIGG’s products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BIGG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIGG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The CSE does not accept responsibility for the adequacy or accuracy of the content of this Press Release.
1990 Bloor St W Condominium Building: “The High Park”
Presented by Baldo Minaudo, Broker, Real Estate Homeward. 416-564-0245
The High Park Condominiums
The High Park is a boutique condominium residence across from High Park on Bloor Street West at Parkview Gardens. A rare opportunity to live directly across from a 400 acre park and steps from Bloor West Village, Roncesvalles Village and the High Park station.
High Park
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Condo Unit:
This modern, chic, linear kitchen, open concept apartment comes with a one bedroom and a lifestyle you can enjoy. The modern design maximizes th 497 square feet of living space, but why be inside when you can enjoy High Park across the street or the building’s own workout room or rooftop deck and garden.
The High Park Condominium
Underground parking for 1 car and a storage locker are a plus. Unit includes:
Floor To Ceiling Windows.
Built-In Appliances. Parking Storage Locker.
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Presented by Baldo Minaudo, Broker, Real Estate Homeward. 416-564-0245
The High Park Neighbourhood
The iconc and well sought after High Park Neighbourhood is one of Toronto’s greatest destination for nature lovers, outdoor enthusiasts and those that enjoy active or contemplative lifestyles. An inspiration for writers and artists, the neighbourhood is marked by mature trees that line streets of mainly large single-family homes. Beautiful Tudor, Edwardian and Victorian-style homes from the late 1800 and early 1900’s remain, with some converted into multiple-family dwellings. Many still have the leaded glass, hardwood trim and flooring, which offer that sought after character.
A handful of high-rise rental-focused apartment buildings have long appealed to singles and couples wanting to move into the area. Newer condominium developments along Bloor have also broadened the area’s demographics. Stunning views overlooking the park and a maintenance-free lifestyle make condominiums like The High Park complex popular with downsizers as well.
Bidding wars are the norm in this desirable neighbourhood. Greatly popular schools, Toronto’s largest park and proximity to the Bloor subway line mean there is great demand for this residences in this neighbourhood.
High Park Neighbourhood Profile
Presented by Baldo Minaudo, Broker, Real Estate Homeward. 416-564-0245
BIGG Digital Assets Inc. Subsidiary Netcoins Announces Daily Revenue Grew 54% Month over Month in February 2021
Source: BIGG Digital Assets Inc.
VANCOUVER, British Columbia, March 02, 2021 (GLOBE NEWSWIRE) — BIGG Digital Assets Inc. (“BIGG” or the “Company”)(CSE: BIGG; OTCQX: BBKCF; WKN: A2PS9W), owner of Netcoins (Netcoins.ca) (“Netcoins”), the online cryptocurrency brokerage that makes it easy for Canadians to buy, sell, and understand cryptocurrency, is pleased to announce that February 2021 daily revenues grew by an impressive 54% Month over Month (MoM), and trading volumes set another consecutive monthly record.
Further, Netcoins would like to update shareholders with the following key metrics from February:
Monthly revenues hit a new record high of ~$1.25 million
Monthly Active Users has grown by 41% MoM
Assets Under Custody (AUC) has grown 69% MoM
Daily verified users (full KYC) grew by 49% MoM
Trading margins continue to track above 1%
Netcoins president, Mitchell Demeter, remarks “Despite February being a shorter month, Netcoins has continued to grow at an exceptionally fast pace. We are encouraged by all major metrics, particularly new customer onboarding – which increased by nearly 50% daily – which is the engine for future revenue and trading volume growth. As we head into March, we will continue to expand our marketing programs. I look forward to updating shareholders on our progress again soon.”
On behalf of the Board
Mark Binns CEO mark@biggdigitalassets.com T:+1.844.515.2646
About BIGG Digital Assets Inc.
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG owns two operating companies: Netcoins (netcoins.ca) and Blockchain Intelligence Group (blockchaingroup.io).
Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified® software at the heart of its platform and facilitates crypto trading via a self-serve crypto brokerage portal at Netcoins.app.
Blockchain Intelligence Group (BIG) has developed a Blockchain-agnostic search and analytics engine, QLUETM, enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually track, trace and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified®, offers a “risk score” for cryptocurrencies, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements.
Certain statements in this release are forward-looking statements, which include completion of the search technology software and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIGG’s expectations include, consumer sentiment towards BIGG’s products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations.
The forward-looking statements
contained in this press release are made as of the date of this press release. Except as required by law, BIGG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIGG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
The CSE and MetroActive do not accept responsibility for the adequacy or accuracy of the content of this Press Release.
UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 30, 2020 HEALTHIER CHOICES MANAGEMENT CORP.(Exact name of registrant as specified in its charter)
3800 N. 28th Way, #1Hollywood, Florida 33020(Address of Principal Executive Office) (Zip Code) (888) 766-5351(Registrant’s telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ? If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ? Explanatory Note This Amendment No. 1 on Form 8-K/A to the Form 8-K filed on November 30, 2020 is being filed solely for the purpose of filing Exhibit 99.2.
On November 30, 2020, Healthier Choices Management Corp. (“HCMC”) issued a press release announcing the filing of its patent infringement lawsuit against Philip Morris USA, Inc. and Philip Morris Products S.A. in the U.S. District Court for the Northern District of Georgia (the “Complaint”). The lawsuit alleges infringement on HCMC-owned patent(s) by the Philip Morris product known and marketed as “IQOS®”. Philip Morris claims that it is currently approaching 14 million users of its IQOS® product and has reportedly invested over $3 billion in their smokeless tobacco products. A copy of the press release is attached as Exhibit 99.1. The Complaint is attached as Exhibits 99.2 to this Current Report on Form 8-K and incorporated herein by reference.
(d) Exhibits.
1
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
2
EXHIBIT INDEX
exhibit99-2.htm HEALTHIER CHOICES MANAGEMENT CORP COMPLAINT FOR PATENT INFRINGEMENTZoom In Zoom Out
IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF GEORGIA
COMPLAINT FOR PATENT INFRINGEMENT Plaintiff Healthier Choices Management Corp. (“Healthier Choices”), by and through its undersigned counsel, brings this action for patent infringement against Defendants Philip Morris USA, Inc. (“Philip Morris USA”) and Philip Morris Products S.A. (“PMP”) (collectively, “Defendants”) and alleges as follows:NATURE OF ACTION
10,561,170 (“the ’170 patent”), arising under the United States patent laws, Title 35, United States Code §§ 100, et seq., including 35 U.S.C. § 271.
innovative products and methods for, inter alia, consumers’ use and enjoyment of tobacco products.
THE PARTIES
JURISDICTION AND VENUE
U.S.C. §§ 100, et seq., and this Court has subject matter jurisdiction over Healthier Choices’ patent infringement claims under 28 U.S.C. §§ 1331 and 1338(a).
Civil Procedure 4(k)(2). In addition, personal jurisdiction exists over PMP based on the fact that it is responsible for causing patent infringement to occur in the State of Georgia and this District.
for sale, selling, and instructing its customers to use the accused infringing product within this District.
District for the purpose of offering for sale, selling, using, and/or instructing its customers how to use the accused infringing product. On information and belief, Philip Morris USA owns and maintains retail establishments at the Lenox Square shopping center with an address of 3393 Peachtree Rd. NE, Atlanta, Georgia 30326, (Exh. E (IQOS® store locator identifying an IQOS® Store at Lenox Square in Atlanta, Georgia); Exh. F (IQOS® store location within the Lenox Square shopping center)) and at the Mall of Georgia shopping center with an address of 3333 Buford Dr., Space 1004, Buford, Georgia 30519 (Exh. G (IQOS® store locator identifying an IQOS® Store at the Mall of Georgia in Buford, Georgia); Exh. H (IQOS® store location within the Mall of Georgia)) for the purpose of offering for sale, selling, using, and/or instructing its customers how to use the accused infringing product. (Exh. D.) Philip Morris USA also offers for sale, sells, uses, and/or instructs consumers how to use the accused infringing products at dedicated kiosks it established and maintains within this District at retail establishments of multiple third parties (e.g., Walgreens, Quiktrip, and Kroger).
but have re-opened as of June 22, 2020. (See Exh. I (IQOS® store locations, including the Lenox Square Store and the Mall of Georgia Store, re-open on June 22, 2020).)
U.S.C. § 1400(b) because, inter alia, Philip Morris USA has regular and established places of business in the District. Further, Philip Morris USA uses its regular and established places of business in this District to offer for sale, sell, use, and/or instruct its customers to use the accused infringing product thereby committing, inducing, and/or contributing to acts of patent infringement in this District. (See Exh. D-I.)
THE ’170 PATENT
a battery, an electronic module, a combustible material reservoir, and a heating element fixed in the combustible material reservoir;combustible material loaded into the combustible material reservoir;wherein the pipe is structured to transmit an electric current from the battery to the heating element, the heating element initiating a combustion reaction in the combustible material reservoir.(Exh. A, col. 9:36 – col. 10:4.)
5. A method of at least partially combusting a combustible material for inhalation, comprising:providing an electronic pipe comprising a battery, an electronic module, a combustible material reservoir, and a heating element fixed in the combustible material reservoir;loading the combustible material into the combustible material reservoir;
activating the electronic pipe such that electric current is transmitted from the battery to the heating element;initiating, by way of the heating element, a combustion reaction in the combustible material reservoir, the combustion reaction at least partially combusting the combustible material.(Exh. A, col. 10:15-29.)
DEFENDANTS’ INFRINGING IQOS® PRODUCT
(Id. at 20-22 (Figure 2).)
are manufactured, offered for sale, sold, and adapted to be used with one another. None of the IQOS® Holder, Electronic Module, Heating Element, Rechargeable Battery and Charger, or Tobacco Stick is a staple article of commerce suitable for a substantial non-infringing use. Rather, the IQOS® Holder, Electronic Module, Heating Element, Rechargeable Battery and Charger, or Tobacco Stick were specifically designed and Defendants sought and obtained FDA regulatory approval for their use solely and exclusively as parts of the Accused Infringing Product, and they are imported, marketed, offered for sale, and sold by Defendants solely and exclusively in and/or for use with the Accused Infringing Product.
an “iQOS User Guide.” (See Exh. L and M, respectively.) Defendants, import, offer for sale, and sell the Accused Infringing Product with, and the Accused Infringing Product is used according to, the Quick Start Guide and User Guide, each of which instructs consumers to operate the IQOS® system in a manner that infringes at least one claim of the ’170 patent.
THE IMPORTATION, SALE, OFFER FOR SALE, AND DISTRIBUTION OF THE ACCUSED INFRINGING PRODUCT
COUNT IINFRINGEMENT OF U.S. PATENT NO. 10,561,170
information and belief the casing and support components of the Accused Infringing Product support and guide an IQOS® Tobacco Stick onto the heating blade (heating element) when it is inserted into the electronic pipe.
(Exh. L at 14.)
or under the doctrine of equivalents. (See, e.g., Exh. J at 40-41 (“the THS [Tobacco Heating System] aerosol contains substantially lower levels of HPHCs [Harmful and Potentially Harmful Constituents] compared to cigarette smoke.Importantly, nitrogen oxides (NOx) and carbon monoxide (CO), two important combustion markers, were reduced by over 97%.”).) Thus, on information and belief, while Defendants assert that the Accused Infringing Product does not cause combustion of the IQOS® Tobacco Sticks, Defendants’ own testing concludes that 97%, not 100%, of the harmful chemicals associated with combustion are eliminated by the Accused Infringing Product, and the presence of 3% of the two important combustion markers nitrogen oxides and carbon monoxide indicates that at least some combustion occurs when the Accused Infringing Product is operated as designed and intended by Defendants.
of each and every limitation of at least claim 1 of the ’170 patent under 35 U.S.C. §§ 271(b) and/or (c).
(Exh. K at 5; see also Exh. L, supra ¶ 44, at 14.) Therefore, on information and belief Defendants know and intend for consumers to operate the Accused Infringing Product in combination with the IQOS® Tobacco Sticks in a manner that satisfies this limitation of claim 5 literally or under the doctrine of equivalents.
to, after inserting an IQOS® Tobacco Stick into the Holder, turn on the Accused Infringing Product by means of a switch that “initiates the heating of the tobacco via the heating blade inserted into the tobacco plug.” (Exh. J at 23; Exh. L at 15.) Therefore, on information and belief Defendants know and intend for consumers to operate the Accused Infringing Product in combination with the IQOS® Tobacco Sticks in a manner that satisfies this limitation of claim 5 literally or under the doctrine of equivalents.
U.S.C. §§ 271(a), (b), and (c) in this Judicial District and elsewhere.
DEMAND FOR JURY TRIAL
Pursuant to Fed. R. Civ. P. 38, Healthier Choices hereby demands trial by jury in this action for all issues and claims so triable.PRAYER FOR RELIEF WHEREFORE, Healthier Choices respectfully requests the Court to enter judgment in its favor and grant the following relief:
———-Signature Page Follows———-
CERTIFICATE OF COMPLIANCE Pursuant to L.R. 7.1D, the undersigned counsel certify that the foregoing has been prepared in Times New Roman 14 point, one of the four fonts and points approved by the Court in L.R. 5.1C./s/ Lynnette D. Espy-Williams Lynnette D. Espy-Williams Georgia Bar No. 246106E-mail: lespy-williams@cozen.com External Resources:
Earlier today, the Government of Ontario announced that 27 public health regions will transition out of the shutdown?and into a revised and strengthened COVID-19 Response Framework: Keeping Ontario Safe and Open (the “Framework”) on Tuesday, February 16, 2021.
The four remaining public health regions, Toronto Public Health, Peel Public Health, York Region Public Health and North Bay Parry Sound District, will remain in the shutdown and the?Stay-at-Home order. They are anticipated to transition into the Framework on Monday, February 22, 2021.
Find out what level and which regional public measures are in place for your area on the OREA COVID-19 Information Hub.
Even with the Stay-at-Home order ceasing to apply in some regions as of Tuesday, February 16, everyone is strongly advised to continue to stay at home, avoid social gatherings, minimize travel between areas with different rules, and limit close contacts to their household.
How Does This Impact Real Estate?
If your public health unit region is in the levels Green-Prevent, Yellow-Protect and Orange-Restrict, open houses are permitted. While the option to host an open house is available to you, REALTORS® should continue to use digital and virtual technology first and to the greatest extent possible.
For regions that are under Stay-at-Home order, Red-Control and Grey-Lockdown, open houses are not permitted. Scheduled in-person showings are permitted, provided they follow all health and safety guidelines.
For guidance on Safe Open House Practices and Safe In-Person Showings Protocol, go to the OREA COVID-19 Information Hub.
As always, please stay tuned for future messages from OREA on government announcements and how they impact real estate in your region.
Thank you and stay safe.
Sincerely,
Sean Morrison OREA President
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.
Disclaimer
The information contained in this email is not meant to be relied upon as legal advice by REALTORS®, or others. Members wishing further clarity or advice should seek independent legal advice specific to their circumstances. Due to the quickly changing regulatory environment during the COVID-19 emergency, this information may not be current or accurate by the time it is read.
On February 1st, 2021, The Ontario government established the Home Construction Regulatory Authority (HCRA) to improve consumer protection.
A new and separate regulator for home builders and vendures has been established to ensure that the industry is held to professional standards. This is to provide greater confidence for buyers and owners of new homes by helping them be well-informed and better protected by:
Licensing of new home builders and vendors;
Expanding the existing Ontario Builder Directory to provide regulatory compliance and warranty information about builders and vendors across the province; and
Implementing a formal complaints process for the conduct of new home builders and vendors.
WHAT YOU SHOULD KNOW:
The Home Construction Regulatory Authority (HCRA) regulates new home builders and vendors in Ontario.
The HCRA is designated under the New Home Construction Licensing Act, 2017.
The creation of the HCRA as a separate authority addresses consumer concerns about potential conflicts of interest within Tarion, Ontario’s new home warranty and protection program administrator.
The Rebuilding Consumer Confidence Act, 2020, passed on July 14, 2020, promotes higher quality new home construction. It intends to reduce defects and new home warranty and protection claims, while better-protecting consumers from bad actors.
Tarion will administer Ontario’s new home warranty and protection program.
Together, the HCRA and Tarion will provide more robust consumer protection for Ontarians.
• Adjusted EPS1 reaches record levels of $0.71 for Q4 and $2.45 for 2020
• Repurchased 1.8 million shares in Q4 for $29.8 million, and 14.0 million shares in 2020 for $258 million
• Paid quarterly dividend of $0.18 a share, totalling $37.8 million in Q4 and $155.3 million in 2020
• Continued expansion of North American wealth management platform through six acquisitions with $25 billion in assets in Q4; total of 14 acquisitions in 2020 almost doubles wealth assets to $96 billion
• Total assets increased 19% in Q4 and 27% in 2020 to $231.5 billion
• Acquisition announced after quarter-end expected to increase U.S. assets to $58 billion, total assets to $261 billion
• Significantly diversified investor base through NYSE listing (ticker CIXX), successful U.S. debt issue that raised US$960 million
• Completed corporate rebranding which included the rollout of CI Global Asset Management and alignment of in-house investment team
All financial amounts in Canadian dollars unless otherwise stated.
TORONTO (February 11, 2021) – CI Financial Corp. (“CI”) (TSX: CIX, NYSE: CIXX) today released financial results for the quarter and year ended December 31, 2020.
“We delivered a very successful fourth quarter, capping a transformative year for CI,” said Kurt MacAlpine, CI Chief Executive Officer. “In 2020, we made great progress in executing on our strategic priorities of modernizing asset management, expanding wealth management, and globalizing the firm. While we are still in the early stages of executing our strategy, CI is a fundamentally different company than it was just a year ago.
“We have almost doubled the size of our wealth management business, reaching $96 billion at the end of the year, and quickly built a significant presence in the United States,” Mr. MacAlpine said. “Our assets in the U.S. alone are nearing $60 billion with the completion of five acquisitions in the fourth quarter and an agreement this January to acquire Segall Bryant Hamill, LLC of Chicago. The U.S. wealth management firms we acquired operate at strong margins and generated aggregate organic net new asset growth of 9% in 2020. These businesses are making important contributions to our results and we are committed to building on this progress in the coming year.
There’s more…
“We have diversified our investor base by listing on the New York Stock Exchange in November and issuing debt in the United States in December,” said Mr. MacAlpine. “With the re-opening of that offering in January, we have issued US$960 million in notes, demonstrating a high level of investor interest and confidence in CI and our strategy. While CI had no U.S. debt just two months ago, today over 50% of our bonds are issued in the U.S.
“In asset management, we have kept up the pace of enhancements to the business, rebranding CI Investments to CI Global Asset Management, and building on our leadership in alternative investments with the launch of the CI Galaxy Bitcoin Fund and, in January, launching a private equity product with Adams Street Partners for accredited investors,” Mr. MacAlpine said.
CI is the market leader in liquid alternatives in Canada, with $3.2 billion in assets under management in this category as at December 31, 2020, offered in both mutual fund and exchange-traded fund structures.
“We’re making these substantial investments in CI’s growth while achieving strong financial results, paying a quarterly dividend of $0.18 a share and continuing our share repurchase program,” Mr. MacAlpine said. “As a result of growing wealth management revenues and prudent cost management, our earnings per share, on an adjusted basis1, were $0.71 for the fourth quarter, the highest in the company’s history. For the year, adjusted earnings were $2.45, also a record high for the company.”
Financial results
CI reported earnings per share of $0.50 for the fourth quarter of 2020, compared to $0.62 in the previous quarter and $0.66 in the fourth quarter of 2019. Adjusted earnings per share1 for the fourth quarter were $0.71. This compares to adjusted earnings per share of $0.62 for the third quarter of 2020 and $0.66 for the same quarter a year ago. Adjusted earnings exclude a provision of $42.6 million ($55.8 million before tax) in the fourth quarter of 2020 for non-recurring items, including legal and restructuring charges, investment write-downs and losses from the early redemption of bonds.
For the year ended December 31, 2020, CI reported record adjusted earnings per share of $2.45, versus $2.41 for fiscal 2019. Adjusted earnings exclude provisions taken in the first and fourth quarters of 2020 and in the second quarter of 2019.
SGA expenses for the fourth quarter were $116.7 million, up from $108.8 million in the prior quarter and $113.8 million in the same quarter of 2019. The change reflects the inclusion of results of acquired companies in the fourth quarter of 2020, partially offset by continued cost reduction in other areas of the business.
CI generated $150.2 million in free cash flow1 during the fourth quarter, an increase of 4% from $143.9 million in the third quarter and a decrease from $168.3 million in the same quarter a year ago.
At December 31, 2020, total ending assets under management were $135.1 billion, representing an increase of 5% from September 30, 2020 and 3% from December 31, 2019. Core assets under management, which consists of assets managed by CI’s Canadian and Australian subsidiaries, were $129.6 billion at December 31, 2020, an increase of 5% from the previous quarter-end and a decline of 2% year over year. During the fourth quarter, U.S. assets under management grew by 16% to $5.5 billion.
Total Average Assets
Total average assets under management were $131.2 billion for the fourth quarter, up 2% from the third quarter and up 1% from the fourth quarter of 2019. Core average assets under management were $126.2 billion in the fourth quarter, compared to $124.6 billion for the previous quarter and $130.5 billion for the year-ago quarter.
Total wealth management assets as at December 31, 2020 were $96.5 billion, which represents an all-time year-end high for CI and an increase of $30.4 billion or 46% over September 30, 2020 and an increase of $46.0 billion or 91% year over year.
Canadian Wealth Management Assets
Canadian wealth management assets, at $67.3 billion, increased $16.1 billion or 31% during the quarter, reflecting net sales, market growth and the acquisition of Aligned Capital Partners Inc. in October 2020. Year over year, Canadian wealth management assets increased by 33%. This category also includes the assets of CI Assante Wealth Management (Assante Wealth Management (Canada) Limited), CI Private Counsel LP, CI Direct Investing (WealthBar Financial Services Inc.) and Virtual Brokers.
U.S. wealth management assets were $29.2 billion at December 31, 2020, up 96% from $14.9 billion over the quarter. The change reflects the addition during the quarter of five U.S. RIA firms: RGT Wealth Advisors, LLC, The Roosevelt Investment Group, LLC, Doyle Wealth Management, LLC, Stavis Cohen Private Wealth, LLC and Bowling Portfolio Management LLC. CI’s U.S. wealth management assets also include assets of Balasa Dinverno Foltz LLC, The Cabana Group, LLC, Congress Wealth Management, LLC, One Capital Management, LLC and Surevest, LLC.
CI posted $2.1 billion in overall net redemptions for the fourth quarter of 2020. CI’s Canadian retail business, excluding products closed to new investors, had $1.3 billion in net redemptions for the fourth quarter of 2020, an improvement of $0.2 billion from the third quarter of 2020 but an increase from $0.4 billion in net redemptions for the fourth quarter of 2019. CI’s Canadian institutional business had net redemptions of $0.9 billion for the fourth quarter of 2020, representing an improvement of $0.5 billion over the same quarter a year ago. Sales at GSFM were relatively flat, and CI’s U.S. RIA business had $0.3 billion in net sales. CI’s closed business, comprised primarily of segregated fund contracts that are no longer available for sale, had $0.2 billion in net redemptions for the quarter.
Capital allocation
In the fourth quarter of 2020, CI repurchased 1.8 million shares at a cost of $29.8 million (average cost of $16.96 per share) and paid $37.8 million in dividends at a rate of $0.18 a share.
The Board of Directors declared a quarterly dividend of $0.18 per share, payable on July 15, 2021 to shareholders of record on June 30, 2021. The annual dividend rate of $0.72 per share represented a yield of 4.2% on CI’s closing share price of $17.33 on February 10, 2021.
CI also completed the acquisition of Burlington, Ontario-based Aligned Capital, a full-service investment advisory firm with approximately $12.2 billion in assets and about 200 advisors across Canada.3
CI listed its common shares on the New York Stock Exchange as part of its strategy to globalize the company. CI expects the listing to enhance its corporate profile in the U.S., broaden its investor base and make CI’s shares more attractive to sellers as purchase consideration when making acquisitions in the U.S.
CI completed a US$700 million public offering of 3.200% notes due 2030. The offering allowed for the early redemption of the company’s $200-million principal amount of 2.775% debentures due November 2021, which was completed in January 2021. Also in January 2021, CI announced the US$260 million re-opening of the 3.200% notes, along with its intention to redeem the outstanding C$325 million aggregate principal amount of its 3.520% debentures due July 20, 2023.
CI expanded its partnership with d1g1t Inc. as part of CI’s strategy to modernize its technology platforms. The partnership is allowing CI to further develop advanced discretionary capabilities within its Assante Wealth Management business and is expected to help facilitate the integration of CI’s acquired U.S.-based RIAs firms by providing them access to the d1g1t platform.
CI continued to implement its corporate branding initiative, with the rebranding of CI Investments to CI Global Asset Management (“CI GAM”). As part of the rebranding, all legacy in-house investment management boutique brands are being phased out. Additionally, CI GAM has removed the compliance barriers between the in-house teams, allowing for increased collaboration and information sharing across the firm and allowing investors to benefit from the full spectrum of capabilities within CI GAM.
Recent product launches included CI Galaxy Bitcoin Fund in the fourth quarter and a private equity product with Adams Street Partners in early January 2021, available to accredited investors. The two funds, both offering innovative access to alternative investments, reflect one aspect of CI GAM’s drive to modernize its business.
Investment funds managed by CI GAM continued to receive industry recognition for risk-adjusted performance, receiving nine Canada Lipper Fund Awards from Refinitiv and 35 FundGrade A+® Awards for 2020 performance.
Following quarter-end:
CI announced an agreement to acquire Segall Bryant Hamill, LLC a leading high-net-worth-focused registered investment advisor and multi-office institutional investment management firm with US$23 Billion in assets, headquartered in Chicago. Once completed, the transaction is expected to double CI’s total U.S.-based assets to approximately $58 billion (US$46 billion)4.
Analysts’ conference call
CI will hold a conference call with analysts today at 9:00 a.m. Eastern Time, led by Chief Executive Officer Kurt MacAlpine and Chief Financial Officer Douglas Jamieson. The call and a slide presentation will be accessible through a webcast, which can also be reached through the Events section of the Investor Relations page on www.cifinancial.com. Alternatively, investors may listen to the discussion by calling 1-866-248-8441 or 647-792-1241 (Passcode: 6228002). A replay of the call will be available for one year following the presentation (Passcode: 6228002). The webcast will be archived in the Financials section of www.cifinancial.com.
Financial highlights
1 Free cash flow, net debt, adjusted net income, adjusted earnings per share and adjusted EBITDA are not standardized earnings measures prescribed by IFRS. Descriptions of these measures, as well as others, and reconciliations to the nearest IFRS measures, where necessary, are included in Management’s Discussion and Analysis available at www.cifinancial.com.
2 Trailing 12 months, calculated using adjusted net income.
3All asset levels as at December 31, 2020.
4 Based on assets for Segall Bryant Hamill, LLC and CI as at December 31, 2020.
CI Financial Corp. is an independent company offering global asset management and wealth management advisory services. CI’s primary asset management businesses are CI Global Asset Management (CI Investments Inc.) and GSFM Pty Ltd., and it operates in Canadian wealth management through Assante Wealth Management (Canada) Ltd., CI Private Counsel LP, Aligned Capital Partners Inc., CI Direct Investing (WealthBar Financial Services Inc.), and CI Investment Services Inc.
CI’s U.S. wealth management businesses consist of Balasa Dinverno Foltz LLC, Bowling Portfolio Management LLC, The Cabana Group, LLC, Congress Wealth Management, LLC, Doyle Wealth Management, LLC, One Capital Management, LLC, The Roosevelt Investment Group, LLC, RGT Wealth Advisors, LLC, Stavis Cohen Private Wealth, LLC and Surevest LLC.
CI is listed on the Toronto Stock Exchange under CIX and on the New York Stock Exchange under CIXX. Further information is available at www.cifinancial.com.
This press release contains forward-looking statements concerning anticipated future events, results, circumstances, performance or expectations with respect to CI Financial Corp. (“CI”) and its products and services, including its business operations, strategy and financial performance and condition. Forward-looking statements are typically identified by words such as “believe”, “expect”, “foresee”, “forecast”, “anticipate”, “intend”, “estimate”, “goal”, “plan” and “project” and similar references to future periods, or conditional verbs such as “will”, “may”, “should”, “could” or “would”. These statements are not historical facts but instead represent management beliefs regarding future events, many of which by their nature are inherently uncertain and beyond management’s control. Although management believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements involve risks and uncertainties. The material factors and assumptions applied in reaching the conclusions contained in these forward-looking statements include that the acquisition of Segall Bryant Hamill, LLC will be completed and its asset levels will remain stable, that the investment fund industry will remain stable and that interest rates will remain relatively stable. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market conditions, including interest and foreign exchange rates, global financial markets, changes in government regulations or in tax laws, industry competition, technological developments and other factors described or discussed in CI’s disclosure materials filed with applicable securities regulatory authorities from time to time. The foregoing list is not exhaustive and the reader is cautioned to consider these and other factors carefully and not to place undue reliance on forward- looking statements. Other than as specifically required by applicable law, CI undertakes no obligation to update or alter any forward-looking statement after the date on which it is made, whether to reflect new information, future events or otherwise.
CI Global Asset Management is a registered business name of CI Investments Inc.
This communication is provided as a general source of information and should not be considered personal, legal, accounting, tax or investment advice, or construed as an endorsement or recommendation of any entity or security discussed. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies.
This announcement is not an offer of securities for sale into the United States. Securities of CI Galaxy Bitcoin Fund have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.
FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see www.FundGradeAwards.com.
The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. For more information, see lipperfundawards.com.
