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GlobeNewswire

Zomedica Corp. Announces Full Exercise of Over-Allotment Option by Underwriter

ANN ARBOR, Mich., Feb. 16, 2021 (GLOBE NEWSWIRE) — Zomedica Corp. (NYSE American: ZOM), (“Zomedica” or the “Company”), a veterinary health company creating point-of-care diagnostics products for dogs and cats, today announced that the underwriter of its previously announced public offering of has exercised in full its over-allotment option to purchase an additional 13,697,368 common shares of Zomedica at a price to the public of $1.90 per share, less underwriting discounts and commissions. After giving effect to the full exercise of the over-allotment option, the gross proceeds are approximately $200.0 million, before deducting underwriting discounts and commissions and other offering expenses payable by Zomedica. H.C. Wainwright & Co. acted as the sole book-running manager for the offering. Zomedica intends to use the net proceeds from the offering for the continued development of its diagnostic platforms, including making milestone payments, if any, as they come due, under its existing license and collaboration agreements, for strategic acquisitions if and when they become available, and other general corporate and working capital purposes and may use a portion of the net proceeds to repurchase some or all of its outstanding Series 1 Preferred Shares, although no agreement has been reached with respect to the terms or conditions of any such repurchase. A shelf registration statement on Form S-3 (Registration No. 333-228926) relating to the securities being offered was filed with the Securities and Exchange Commission (“SEC”) and was declared effective on January 30, 2019. The offering was made only by means of a prospectus supplement and accompanying base prospectus. A final prospectus supplement and accompanying base prospectus relating to the offering were filed with the SEC and are available for free on the SEC’s website located at http://www.sec.gov. and may also be obtained by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by telephone at (646) 975-6996, or by email to placements@hcwco.com. The common shares are not being offered to residents of Canada or persons in Canada. The common shares were sold on the basis of prospectus exemptions under applicable Canadian securities laws. 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 these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. Any offer, if at all, will be made only by means of the prospectus supplement and accompanying base prospectus forming a part of the effective registration statement. About ZomedicaBased in Ann Arbor, Michigan, Zomedica (NYSE American: ZOM) is a veterinary health company creating products for dogs and cats by focusing on the unmet needs of clinical veterinarians. Zomedica’s product portfolio will include innovative diagnostics and medical devices that emphasize patient health and practice health. It is Zomedica’s mission to provide veterinarians the opportunity to increase productivity and grow revenue while better serving the animals in their care. For more information, visit www.ZOMEDICA.com. Follow Zomedica Email Alerts: http://investors.zomedica.comLinkedIn: https://www.linkedin.com/company/zomedica Forward-Looking Statements Except for statements of historical fact, this news release contains certain “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur and include statements relating to Zomedica’s expectations regarding the public offering. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: market and other conditions and the intended use of net proceeds from the public offering. There is uncertainty as to whether our strategies and business plans will yield the expected benefits; uncertainty as to the timing and results of development work and pilot and pivotal studies, uncertainty as to the likelihood and timing of regulatory approvals, availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; veterinary acceptance of our products; competition from related products; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; our ability to secure and maintain strategic relationships; risks pertaining to permits and licensing, intellectual property infringement risks, risks relating to future clinical trials, regulatory approvals, safety and efficacy of our products, the use of our product, intellectual property protection, risks related to the novel coronavirus disease 2019 (“COVID-19”) and its impact upon Zomedica’s business operations generally, including Zomedica’s ability to develop its diagnostic products, and the other risk factors disclosed in the prospectus supplement and the accompanying base prospectus as well as our filings with the Securities and Exchange Commission and under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information. Investor Relations Contact: PCG AdvisoryKirin Smith, Presidentksmith@pcgadvisory.com+1 646.863.6519

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ADRIAN WHITE: Canada’s investment crisis – Cape Breton Post

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Central bankers have slashed interest rates reducing borrowing costs to help keep businesses afloat. Governments continue to inject billions of dollars of borrowed money into their economies. In Canada, pandemic financial supports are nearing $500 billion. 

Low interest rates mean cheap money for all including our federal Liberal government which has driven debt to GDP ratios from 34 per cent in 2019 to near 100 per cent in 2021. 

Adrian White – Cape Breton Post

The amazing thing about cheap money today is that no one seems to care or even notice how much debt Canadians and our governments are accumulating. And there appears to be no urgency for repayment.  

Governments seem more than ready to throw money (our tax dollars) at Canadians whether they need it or not. As a result, they have enabled an unhealthy dependency on government (taxpayer) to solve everyone’s problems. That negatively impacts innovation, creativity and productivity in Canada. 

Soon we will have a federal budget. The first in almost two years. Rumours are afloat there will be lots more borrowed stimulus cash to reboot the economy as the pandemic subsides and vaccines get rolled out later this year.  

A major concern for most Canadians is the slow rollout of pandemic vaccines. We are all painfully aware that Canada has no domestic COVID-19 vaccine production and is totally dependent on foreign producers. 

There are a couple of reasons why Canada does not have large scale domestic vaccine production.  

First is Canada’s unfavourable patent protection laws which guarantee shorter windows of time for exclusive marketing of products developed in Canada by the manufacturer before generic production is allowed.  

This means when a drug company brings an approved drug to market after investing many years and billions of dollars in research and development, they may not have enough time to recover those large investment costs plus a reasonable profit before Canada allows generic production to compete with the drugmaker.  


” … the Americans are eating our lunch when it comes to attracting new capital investment dollars.” — Adrian White


Secondly, the income tax climate for large drug manufacturing corporations in Canada is not as favourable as it is in other countries such as the United States or India. 

To further emphasize Canada’s disadvantages as a place to do business let’s look at corporate investment in Canada over the last few years.  

A recent report, “From the Chronic to the Acute: Canada’s Investment Crisis” by the C.D. Howe Institute, tells a bleak story of a nation that will struggle to compete when it emerges from the COVID-19 pandemic.  

The study calculates that new investment in Canada per available worker has fallen to 58 cents for every dollar of investment in the U.S. In other words, the Americans are eating our lunch when it comes to attracting new capital investment dollars. This is a reflection of ill-founded policies on the part of our governments that drive investors away from Canada.  

That should be concerning for all Canadians. 

Over the past five years, the investment gap between Canada and other advanced countries has become “unprecedentedly” wide. By the middle of the past decade when the Liberal government took power it was 81 cents in Canada to every dollar spent in the OECD. That has shrunk to 60 cents now. That is a sure sign of a government working against you, not for you. 

The C.D. Howe Institute study looks at three kinds of investment: machinery and equipment, buildings and intellectual property (IP) that drives innovation. Of these, IP investment is by far the worst, sinking steadily since the mid-2000s to just 29 cents to the U.S. dollar in 2020. 

Why does it matter?  It’s another reason why Canada doesn’t have a world-class domestic vaccine producer. And Canada desperately needs capital investment to pay back the $1 trillion in government debt we are leaving our grandkids.  

It puts Canada at a competitive disadvantage to other advanced countries and increases the economy’s dependence on consumers for growth.  

For example, Canada now has an unhealthy dependence on the domestic housing market to stimulate its economy. The nation’s mortgage debt is now over $1.75 trillion which is scary. 2020 was the fastest year ever for mortgage debt growth due to cheap money availability. 

The prospect that Canadians will find themselves increasingly relegated to lower-value-added jobs relative to workers in the United States and OECD, who are raising their productivity and earnings faster, should encourage the Canadian government to take action on many fronts. There will be little investment in Canada’s “green economy” if we continue down this road. 

Government can’t influence all factors affecting business investment. But government can be supportive by investing in infrastructure, particularly oil pipelines, cutting business taxes, reviewing regulations that hamper competition, resolving international trade uncertainties and loosening inter-provincial trade restrictions.  

Can the current Liberal government figure this out? Let’s see if needed government policy changes show up in the next federal budget. If not, we will continue to lose traction in attracting new capital investment to Canada and the needed jobs that brings. And we still won’t have a world class vaccine producer based in Canada. 

Adrian White is CEO of NNF Inc., Business Consultants. He resides Sydney and Baddeck.

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Ghana to Invest $1 Billion to Replace Expensive Power Loans – BNN

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(Bloomberg) — Ghana will invest $1 billion this year to refinance loans contracted by private power producers, as it seeks to cut costs and curb ballooning debt in its energy sector.

The West African nation and some of the contractors agreed on the plan during the renegotiation of power deals that began in November 2019, a finance ministry spokesman said in an emailed response to questions. The investment will be done through the Ghana Infrastructure Investment Fund using proceeds from last year’s Eurobond sale, the ministry said.

Two of the 12 independent power producers have agreed to switch to gas, from heavy fuel oil, while another agreed to change its plant to a tolling structure. Together, those changes will save the government $5 billion in tariffs over the remaining life of the power contracts.

None of the companies has yet agreed to stop charging the government for energy it does not consume. Those obligations, under so-called take-or-pay clauses, have cost the government $500 million a year since 2017.

“Refinancing expensive debt on the books of the independent power producers will reduce the cost of power even further,” the spokesperson said. “In the coming months we can expect to see the money raised in last year’s Eurobond issuance being deployed to reduce the energy sector cost profile.”

Lenders usually charge a high risk premium to borrowers from Ghana’s energy sector because of a legacy debt problem, caused primarily by the inability of the state-owned power distribution company to collect all the revenue for the energy it sells. The annual revenue loss is estimated at $580 million. The national gas company cannot cover its costs because it reduced prices to power producers by 18% since March 2018 in a bid to lower consumer tariffs.

The government owes private power firms $750 million, after payments in December through February to clear half of the outstanding balance. Taking into account unpaid bills to fuel suppliers and legacy components, the sector debt could reach $12.5 billion by 2023 from $1.5 billion currently without measures to curb it, Matthew Opoku Prempeh, the nominee for the position of Minister for Energy, told lawmakers last month.

©2021 Bloomberg L.P.

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Why Now is Still a Good Time to Invest in Gold – Baystreet.ca

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The same catalysts that pushed it to about $2,089.20 in August 2020 are still in place. For one, there’s still a considerable amount of tension with China. Two, the House just passed the $1.9 trillion stimulus bill, which could lead to higher inflationary risk. Three, central banks seem likely to remain increasingly dovish with this current health scare. So it comes as no surprise that firms such as Citi appear to have a $2,500 price target. All of which could be positive catalysts for gold prices.

In addition, JP Morgan analyst Tyler Langton argues there’s support for current gold prices, as noted by Tip Ranks. He believes, “there is support for current prices, with gold and gold mines being seen as a hedge against ‘macro uncertainty.’ He believes that the main sources of support will be found in ‘real interest rates remaining lower for longer and CV-19 related stimulus measures continuing to expand central bank balance sheets.’”

Those are positive catalysts for companies such as ThreeD Capital Inc. (CSE:IDK)(OTC:IDKFF), K92 Mining Inc. (TSXV:KNT)(OTC:KNTNF), Spanish Mountain Gold Ltd. (TSXV:SPA)(OTC:SPAZF), and Benchmark Metals Inc. (TSXV:BNCH)(OTC:BNCHF).

Or, look at West Mining Corp. (CSE:WEST)(OTC:WESMF)

West Mining is an advanced stage exploration company focused on developing a district-scale gold project in one of the world’s premier mining jurisdictions. The company’s Kena Daylight Gold, Silver and Copper Project is located 10 KM south of Nelson, British Columbia in the 2nd largest gold district in British Columbia “The Golden Arc.”

The company just announced that it welcomed Sheldon Inwentash to the advisory board of West Mining Corp. Mr. Inwentash has more than 30 years of experience in the investment industry, and a deep understanding of progressive investment and financial management strategies, having been successfully investing for most of his career.

Sheldon previously held the position of Chairman for Mega Uranium Ltd., Executive Chairman of Northern Sphere Mining Corp., Partner at KBL Capital Corp., Principal at Enghouse Systems Ltd., Chairman & Chief Executive Officer of Pinetree Capital Ltd. (he founded the company in 2009), Chairman & Chief Executive Officer of Pinetree Capital Ltd. (Investment Management) (he founded the company in 2010), Chairman for Titan Uranium, Inc., Chief Executive Officer & Director at Mega Precious Metals, Inc., Principal at Aurelian Resources, Inc. and Principal at Southern Star Resources, Inc.

Nicholas Houghton, President & CEO commented: “We are very pleased to welcome Sheldon to our advisory board team. He has a wealth of mining experience in all aspects including finance, exploration and production. His wide range of expertise will be helpful in developing our projects and guiding West as a company.”

Mr. Inwentash co-founded Visible Genetics, the first commercial pharmacogenomics company, in 1994 and exited in 2001 to Bayer. Through two decades leading Pinetree Capital, Mr. Inwentash created significant shareholder value through early investments in Queenston Mining (acquired by Osisko Mining Corp. for $550-million), Aurelian Resources (acquired by Kinross for $1.2-billion) and Gold Eagle Mines (acquired by Goldcorp for $1.5- billion) to name a few.

Mr. Inwentash is also the founder, chairman and CEO of ThreeD Capital Inc. (CSE: IDK) an investment issuer focused on investing in six main verticals.  Though they are primarily early-stage companies, and therefore may have significant risk but at the same time, they have the ability to grow quickly and outperform.

Mr. Inwentash received an undergraduate degree from the University of Toronto and is a chartered accountant. In 2007, he was an Ontario finalist for the Ernst & Young entrepreneur of the year award. In 2012, Sheldon received an honorary degree, doctor of laws (LL.D) from the University of Toronto for his valuable leadership as an entrepreneur, his philanthropy, and inspirational commitment to making a difference in the lives of children, youth and their families. Mr. Inwentash and ThreeD Capital are both shareholders in West Mining Corp.

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for West Mining Corp. by a third party. We own ZERO shares of West Mining Corp. Please click here for full disclaimer.

Contact Information:
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