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Ocean Power Technologies Secures Contract for WAM-V to Offshore Contractor in Sub-Saharan Africa

Ocean Power Technologies Inc

Ocean Power Technologies CEO Philipp Stratmann joined Steve Darling from Proactive to announce that the company has secured a contract to deliver a WAM-V (Wave Adaptive Modular Vessel) to an Offshore Construction Contractor. The contract entails providing a spare vehicle system that can be assembled onsite. This WAM-V will be utilized to provide survey services for an offshore dredging project in Sub-Saharan Africa. Stratmann highlighted that this award builds on the recent commercial success of OPT’s vehicles in the offshore construction and energy industries. The contract also supports the company's recent expansion into Latin America, a region with a vibrant offshore energy industry. Additionally, the company is exploring the potential for ocean security applications. This contract marks a significant milestone for Ocean Power Technologies, reinforcing its position in the global offshore market and demonstrating the growing demand for its innovative WAM-V technology. The company's strategic focus on expanding its geographical footprint and diversifying its applications underscores its commitment to driving growth and delivering advanced solutions for offshore operations. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

June 05, 2024 01:39 PM Eastern Daylight Time

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Pegasus Resources Engages Dahrouge Geological for Comprehensive Geological Model Exploration

Pegasus Resources Inc.

Pegasus Resources' CEO, Chris Timmins, joined Steve Darling from Proactive to share significant developments in the company's exploration efforts. Timmins announced that Pegasus has engaged Dahrouge Geological Consulting to complete a preliminary geological model based on extensive geological mapping and sampling conducted at the Company's Energy Sands project located in Utah. This collaboration marks a pivotal step in Pegasus' strategy to advance its understanding and development of the Energy Sands project. Timmins elaborated on the successful outcomes of the recent ground program. The program provided a comprehensive geological map that includes a detailed analysis of lithologies, geological structure, mineralization styles, and controls. It also confirmed the presence of paleochannel structures that govern the uranium and vanadium mineralization on the property. These findings are critical as they enhance the company's understanding of the geological framework and potential resource distribution within the project area. Dahrouge Geological Consulting utilized the collected data in conjunction with the 2015 Utah Geological Survey regional map and stratigraphic column. This combination allowed for the construction of a robust preliminary geological model. This model will serve as a foundational tool to support Pegasus' permitting efforts for the planned drilling program set to commence in 2024. Timmins expressed confidence in the collaboration with Dahrouge, highlighting the consulting firm's expertise and the detailed nature of the geological model they produced. He emphasized that the model not only validates the initial exploration findings but also provides a clear pathway for future exploration and development activities. The geological model's development is expected to significantly enhance Pegasus' ability to attract potential investors and partners. It underscores the project's potential and lays the groundwork for a detailed drilling program aimed at defining and expanding the known mineral resources. Contact Details Proactive Canada +1 604-688-8158 action@proactiveinvestors.com

June 05, 2024 12:03 PM Eastern Daylight Time

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Comcast Directors Refuse to Disclose Political Donations, So Shareholder Does It for Them

NLPC

Ahead of its annual meeting on Monday, June 10, the directors for Comcast Corporation have had their past political campaign donations publicized on the Securities and Exchange Commission’s website, after the company refused to allow a vote on a shareholder proposal that requested transparency of that information. As the parent of major media organizations that include NBC, CNBC, MSNBC, Telemundo and Sky, Comcast has an outsized influence on global news reporting and opinion-forming for its massive audiences, predominantly in the Americas and in Europe. Late last year National Legal and Policy Center (NLPC), an investor in Comcast, had introduced a shareholder proposal to request the Board to implement a policy in which director candidates each year would be required to disclose their charitable donations and campaign contributions above certain amounts, going back five and 10 years, respectively. Citing several examples of Comcast’s past advocacy in support of controversial political news developments and issues from a left-leaning perspective, NLPC asked for greater transparency about the board’s worldviews via the disclosure of members’ past philanthropic and political donations. “Shareholders are uninformed about members’ ideological and political views,” the proposal stated. “Greater transparency is needed to allow shareholders to know whether our Board suffers partisan capture and therefore the group-think and ideological blinders that have cost some companies dearly in recent years.” However, not wanting shareholders to have the ability to vote on NLPC’s proposal – much less disclose its directors’ charity, candidate and political party support – Comcast asked the SEC for permission to exclude the resolution from its proxy statement, and therefore from its annual meeting. The SEC allowed the company to omit the proposal. Subsequently, NLPC filed a proxy memo with the SEC last month in which it opposed the election of all 10 director nominees, over their refusal to allow shareholders to vote on the measure. In addition to NLPC’s rationale for opposing the nominees, the proxy memo also includes some of the very information Comcast’s directors tried to conceal: their campaign contributions for federal races going back at least 10 years, extracted from Federal Election Commission records. “Comcast argued that it was improper for director nominees’ personal charity and campaign donations to be disclosed and should be off-limits,” said Paul Chesser, director of the Corporate Integrity Project for NLPC. “It’s a bogus argument, at least regarding state and federal races, as those contributions are required to be reported to state elections boards and the FEC, and to be made available to the public.” NLPC sponsored the same proposal for the annual meetings of Alphabet, Amazon and Home Depot as well. None of those companies opposed allowing a vote on director transparency at their meetings. “You might think Big Tech companies might be more reluctant to make such disclosures, but they were at least willing to allow their investors to weigh in on the issue,” Chesser added. “Meanwhile Comcast controls some of the most extensive and influential news gathering organizations in the world. Their Board owes it to their audiences, as well as their shareholders, to inform them where they stand ideologically.” Founded in 1991, the National Legal and Policy Center promotes ethics in public life through research, investigation, education and legal action. Contact Details National Legal and Policy Center Dan Rene +1 202-329-8357 drene@nlpc.org Company Website http://www.nlpc.org

June 05, 2024 11:10 AM Eastern Daylight Time

Zingly launches a bold AI-driven future of customer experience for a world beyond 1-800 calls and chatbots

Zingly

Ex-Avaya, Five9, Glia, and Talkdesk industry leaders join forces to revolutionize customer experience (CX) with the launch of Zingly, a Collaborative Customer Experience (CCX) Platform. The patented customer-facing technology combines GenAI, digital interactions, and telephony, providing infinite scale to enterprises, and hyper personalization to consumers, resulting in revenue acceleration and lasting customer relationships. With this launch, Zingly is today announcing it has raised a $10m seed funding round from Dell Technologies Capital, WestWave Capital, Scribble Ventures, Formus Capital, Geekdom Fund, Array Ventures, Firebolt Ventures, Burst Capital, and from leaders in the CX industry. Today, customers are still primarily required to call 800 numbers and punch numbers into an interactive voice response (IVR) whenever they need to communicate with businesses. For customers, phone calls are an outdated and frustrating experience, and for businesses, they’re an expensive and unscalable method of communication. Meanwhile, businesses are seeing 10x traffic on their website and apps while experiencing declining call center traffic. Technology advancements in CX have typically focused on operational savings driven by cloud migration and agent support tools, but have often neglected the end customer. Zingly rectifies this imbalance by providing customers with Zingly-Rooms™ —a patented, always-on space where customers can instantly connect and collaborate with businesses, eliminating the need for calls. This is driven by the company’s Generative AI product technologies, including Relationship-AI™ and Zingly-Buddy™. Zingly focuses on eliminating friction and accelerating engagement use cases like customer acquisition, onboarding, customer service and success, and many more. This is done through a modern no-code-low-code platform that integrates into any tech stack (CRM, existing contact center technologies, customer support systems, and core operations) and intelligently combines cutting-edge Generative AI, humans, and data. The end result is an innovative collaborative space that can scale to support service and sales operations for businesses of all sizes, while providing hyper-personalization for customers. Founded in 2021 by Gaurav Passi, a former executive at Avaya and Five9, Zingly was born out of a recognition that traditional contact center solutions were becoming obsolete. With global inflationary pressures driving up the cost per call and limiting scalability due to the finite number of agents, the need for industry disruption was clear. Passi teamed up with seasoned CX, CRM, and CCaaS leaders from Five9, Talkdesk, and Glia to launch Zingly. “Traditional contact center solutions are out of date and simply not personable for customers, or scalable for businesses. The math is clear, there are approximately 16.5 million call center agents globally handling potentially billions of customers. More importantly, the frustration and long wait times associated with traditional calling and rigid workflow-driven chatbots have created what we call a fear of reaching out (FORO) among customers. Our vision with Zingly is to destroy FORO and make it collaborative for customers and businesses to come together,” said Gaurav Passi, CEO and founder of Zingly. “Zingly represents a significant leap forward from the traditional trade-off between personalization and scalability in CX. While traditional calls are unscalable and conversational chatbots can feel too robotic, Zingly offers a new CX paradigm that is faster, cheaper, and more secure than both 1-800 numbers and conversational AI chatbots” added Gaurav Passi. Currently focusing on high-value industries such as financial services, healthcare, and product companies, Zingly is able to help organizations modernize their customer experience seamlessly by integrating with their existing technology stacks. As an example, Zingly is working with a Fortune 500 provider to engage with 5x more customers than traditional 1:1 phone conversations, while also reducing typical conversion time from 60 to 18 days, resulting in tens of millions of dollars of revenue uplift. Most importantly, it allowed them to innovate on top of their core infrastructure like Salesforce and Avaya without any disruption. “To truly revolutionize CX, it needed top industry leaders like those from Zingly to step back and fundamentally reimagine a new approach. Incremental improvements to CX were not enough. A deep technology solution intelligently combining data, GenAI, and humans, as well as a dedicated team of CX experts together with forward looking Fortune 500 design partners was required for such a revolution,” said Zeus Kerravala, Principal Analyst, ZK Research. “The vision presented by Zingly happens once in a decade. We are excited to partner with the team right from its inception”, said Gaurav Manglik of WestWave Capital. While Gokul Rajaram, Board Member at Coinbase and Pinterest, and former executive at DoorDash and Square added: “What I respect about Gaurav Passi as a leader and Zingly as a company is that they have had the same mission from day 1. They work closely with large complex enterprises to solve deep challenges, and as a result, have built the best platform to disrupt the much needed CX industry with clear ROI. This clarity of mission and singular focus has been a big reason for their continued success.” Looking ahead, Zingly is rapidly expanding its teams in data science and engineering, sales, and marketing with plans to double its headcount by the end of next year. On track to be driving millions of quality customer interactions this year, Zingly is accelerating its mission to help companies collaborate with their customers and build relationships bigger than business. About Zingly Zingly.ai is the new way for businesses to meet, onboard and build lasting relationships with customers. Built by industry insiders in collaboration with Fortune 500 service providers, Zingly is a faster, cheaper, more secure, and better-organized solution than today's chatbots and 1-800 calling, eliminating friction and accelerating use cases like customer acquisition, onboarding, and support. Zingly makes online customer experiences delightful and personal by intelligently combining GenAI + Humans + Data to provide infinite scale for businesses and hyper personalization for customers to drive revenue acceleration and create exceptional customer experiences. Zingly serves businesses across multiple industries including Banking and Financial Services, Insurance, Education, and Healthcare. Visit https://www.zingly.ai/ to learn more. About WestWave Capital Deep-Tech takes deep partnerships. Founded by former entrepreneurs, WestWave knows that founders need more than just capital. WestWave Capital invests in market defining pre-seed, seed and series A enterprise start ups. About Dell Technologies Capital DTC invests in determined early-stage founders who push the envelope on technology innovation for the enterprise, connecting them to the capital, expertise, and customers they need to take a company from start to scale. Since its inception in 2012, DTC has backed more than 150 startups, a list that notably includes Arista Networks, Cylance, DocuSign, Exotec, JFrog, MongoDB, Nasuni, Netskope, Nutanix, Nuvia, Redis, Xometry, and Zscaler. DTC has offices in Palo Alto (HQ), Boston, and Tel Aviv. About Scribble Ventures Scribble Ventures is an early-stage venture firm started by operators and investors from Instagram, Twitter, & A16z. We invest in Pre-Seed and Seed, and write initial checks of up to $1.5M. This allows Scribble to collaborate and co-invest with other angel investors and early-stage funds, so founders can bring the best partners into their round. We work closely with our founders alongside The Scribble Network - a curation of world-class operators across sectors and stages - for guidance on product, growth, hiring, fundraising, and more. We aren’t just investors to our founders - we are teammates. More info: scribble.vc About Formus Capital Formus Capital is a global technology investment firm backed by a network of family offices across various sectors & geographies. Our mission is to partner with exceptional, mission driven teams transforming industries and building world-impacting companies. About Geekdom Fund Geekdom Fund is a venture capital fund that invests in early stage tech startups led by the strongest founders. Our partners are in the trenches with our companies. Whether it be hiring, channel development, fundraising, executive coaching, or brainstorming sessions with your team, our goal is to help founders avoid costly mistakes and make high impact decisions. Array Ventures Array Ventures invests in founders passionate about solving problems for businesses. We partner from first round of your journey and help companies hone their go-to-market /10x growth journey. About Firebolt Ventures Firebolt Ventures is a venture capital firm focused on all things software (enterprise b2b application/infrastructure layers, fintech, consumer) to help extraordinary founders build enduring companies. We partner with founders early, invest throughout the lifecycle of the company and aim to be your most impactful investor. About Burst Capital Burst Capital invests in early-stage software and service companies, primarily those with marketplace and SaaS business models. As operators turned investors, we provide our portfolio company founders with on-call operating advice as we support their rapidly scaling businesses. Contact Details Zingly Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.zingly.ai/

June 05, 2024 10:00 AM Eastern Daylight Time

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VIVOPOWER’S TEMBO LAUNCHES THE FULL ELECTRIC TEMBO TUSKER WITH FIRST 50 COMMITTED ORDERS

VivoPower International PLC

Inaugural partner and customer trials have exceeded expectations Tembo has an initial commitment of 50 orders worth an estimated US$2.5m Tembo Tusker range complements current conversion kit program, offering more choice LONDON, June 5, 2024 – the NASDAQ listed B Corp, VivoPower International PLC (“VivoPower”) announced today that its electric vehicle subsidiary, Tembo e-LV B.V. (“Tembo”) has secured its first 50 committed orders for the Tembo Tusker, its full electric pick up utility vehicle (“Tembo Tusker”). The Tembo Tuskers come in both left-hand and right-hand configurations, with single and dual cab options available. They have a base range of 330 kilometres (with the option to extend to 1,000 kilometres), as well as a payload capacity of 1 tonne, and an unbraked towing capacity of 750 kilograms. Importantly they are priced at 15% below other comparable electric utility vehicles in the launch markets of Australia and New Zealand. The initial order of Tembo Tuskers is being prepared for delivery to partners and customers in Australia, with full on-road homologation expected to be granted by July 2024. The Tembo Tusker range will augment the Tembo conversion programs, increasing choices for Tembo’s B2B customer base and target market. Depending on where a fleet customer is in their fleet replacement cycle and/or depending on their strategic requirements and total cost of ownership considerations, Tembo will now be able to offer a choice of a full electric utility vehicle or a conversion of an existing utility vehicle. This expanded offering underscores Tembo's commitment to providing tailored solutions to meet the diverse requirements of its global customer base. More broadly, VivoPower’s strategic focus remains on delivering purpose-driven sustainable energy solutions to electrify B2B fleets, encompassing aftermarket solutions, charging, digital twins, software and data analytics, aligning with evolving market dynamics and regulatory frameworks. The Tembo Tuskers will accelerate the pathway to delivering on this. About VivoPower VivoPower is an award-winning global sustainable energy solutions B Corporation company focused on electric solutions for off-road and on-road customised and ruggedised fleet applications as well as ancillary financing, charging, battery and microgrids solutions. The Company’s core purpose is to provide its customers with turnkey decarbonisation solutions that enable them to move toward net-zero carbon status. VivoPower has operations and personnel covering Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates. About Tembo Tembo electric utility vehicles (EUVs) are the premier 100% electric solution for ruggedised and/or customised applications for fleet owners in the mining, agriculture, energy utilities, defence, police, construction, infrastructure, government, humanitarian, and game safari industries. Tembo provides safe, high-performance off-road and on-road electric utility vehicles that meet exacting standards of safety, reliability, and quality. Its core purpose is to provide safe and reliable electrification solutions for utility vehicle fleet owners globally, helping perpetuate useful life, reduce costs, maximise return on assets, meet ESG goals and activate the circular economy. Tembo is a subsidiary of the Nasdaq listed B Corporation, VivoPower International PLC. Forward-Looking Statements This communication includes certain statements that may constitute “forward-looking statements” for purposes of the U.S. federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterisations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the achievement of performance hurdles, or the benefits of the events or transactions described in this communication and the expected returns therefrom. These statements are based on VivoPower’s management’s current expectations or beliefs and are subject to risk, uncertainty, and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of VivoPower’s business. These risks, uncertainties and contingencies include changes in business conditions, fluctuations in customer demand, changes in accounting interpretations, management of rapid growth, intensity of competition from other providers of products and services, changes in general economic conditions, geopolitical events and regulatory changes, and other factors set forth in VivoPower’s filings with the United States Securities and Exchange Commission. The information set forth herein should be read in light of such risks. VivoPower is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements whether as a result of new information, future events, changes in assumptions or otherwise. Contact Details Shareholder Enquiries shareholders@vivopower.com Company Website https://vivopower.com/

June 05, 2024 09:25 AM Eastern Daylight Time

Direxion Launches META Single Stock Leveraged and Inverse ETFs

Direxion

Following their recent success with Single Stock Leveraged and Inverse ETFs, Direxion, a leading provider of tradeable and thematic ETFs, today announced the launch of an additional pair, which allow active traders to obtain magnified, or inverse, exposure to the daily performance of the common stock of Meta Platforms, Inc. through either the Direxion Daily META Bull 2X Shares ( Ticker: METU ) or Direxion Daily META Bear 1X Shares ( Ticker: METD ). “Although Meta has been around for over two decades, the company continues to evolve and innovate, cementing itself as a lasting leader in the tech space,” said Direxion Managing Director, Edward Egilinsky. “But that’s not without periods of short-term ebbs and flows, of which traders seek to take advantage.” Offering ground-breaking products built for active traders, Direxion’s pairs of Single Stock Leveraged and Inverse ETFs are meant to be used for short-term trading purposes. These ETFs should not be viewed as buy and hold investments, but rather trading tools for traders with a high-risk tolerance. In addition, unlike traditional ETFs, or even other levered and/or inverse ETFs, these ETFs track the price of a single stock rather than an index, eliminating the benefits of diversification. "With the launch of METU and METD, Direxion is the only provider to offer Single Stock ETF pairs for all of the Magnificent Seven,” Egilinsky added. “Traders may respond tactically to headline news, earnings reports, and market sentiment for the Magnificent Seven on an individual basis via our Single Stock suite, or collectively with our recently launched QQQU and QQQD, which provide exposure to a concentrated basket of the seven companies.” All Direxion leveraged and inverse ETFs are intended only for investors with an in-depth understanding of the risks associated with seeking leveraged investment results, and who plan to actively monitor and manage their positions. There is no guarantee these ETFs will meet their objective. Please visit the Direxion Leveraged and Inverse ETF Education Center, where you will find educational brochures, videos, and a self-paced online course to help you understand if leveraged ETFs are right for you. About Direxion: Direxion equips investors who are driven by conviction with ETF solutions built for purpose and fine-tuned for precision. These solutions are available for a broad spectrum of investors, whether executing short-term tactical trades, or investing in thematic strategies. Direxion’s reputation is founded on developing products that precisely express market perspectives and allow investors to manage their risk exposure. Founded in 1997, the company has approximately $42.3 billion in assets under management as of March 31, 2024. For more information, please visit www.direxion.com. There is no guarantee that the Funds will achieve their investment objectives. For more information on all Direxion Shares ETFs, go to www.direxion.com, or call us at 866.301.9214. An investor should carefully consider a Fund’s investment objective, risks, charges, and expenses before investing. A Fund’s prospectus and summary prospectus contain this and other information about the Direxion Shares. To obtain a prospectus and summary prospectus call 866-476-7523 or visit our website at direxion.com. A Fund’s prospectus and summary prospectus should be read carefully before investing. Investing in the funds involves a high degree of risk. Unlike traditional ETFs, or even other leveraged and/or inverse ETFs, these leveraged and/or inverse single stock ETFs track the price of a single stock rather than an index, eliminating the benefits of diversification. Leveraged and inverse ETFs pursue daily leveraged investment objectives, which means they are riskier than alternatives which do not use leverage. They seek daily goals and should not be expected to track the underlying stock’s performance over periods longer than one day. They are not suitable for all investors and should be utilized only by investors who understand leverage risk and who actively manage their investments. The Funds will lose money if the underlying stock’s performance is flat, and it is possible that the Bull Fund will lose money even if the underlying stock’s performance increases, and the Bear Fund will lose money even if the underlying stock’s performance decreases, over a period longer than a single day. An investor could lose the full principal value of his or her investment in a single day. Investing in the Funds is not the same as investing directly in META. Technology Sector Risk — The market prices of technology related securities tend to exhibit a greater degree of market risk and sharp price fluctuations than other types of securities. These securities may fall in and out of favor with investors rapidly, which may cause sudden selling and dramatically lower market prices. Technology securities may be affected by intense competition, obsolescence of existing technology, general economic conditions and government regulation and may have limited product lines, markets, financial resources, or personnel. Meta Platforms, Inc. Investing Risk — Meta Platforms, Inc. is subject to a number of risks related to: its product offerings; business operations and financial results; government regulation and enforcement; the ability to collect and use consumer data; data, security and intellectual property; and the dual class structure of the company’s common stock, which limits the ability of shareholders to influence corporate matters. Direxion Shares Risks – An investment in each Fund involves risk, including the possible loss of principal. Each Fund is non-diversified and includes risks associated with a Fund concentrating its investments in a particular security, industry, sector, or geographic region which can result in increased volatility. A Fund's investments in derivatives such as futures contracts and swaps may pose risks in addition to, and greater than, those associated with directly investing in securities or other investments, including imperfect correlations with underlying investments or the Fund's other portfolio holdings, higher price volatility and lack of availability. As a result, the value of an investment in a Fund may change quickly and without warning. Risks of the Funds include Effects of Compounding and Market Volatility Risk, Derivatives Risk, Counterparty Risk, Rebalancing Risk, Intra-Day Investment Risk, Market Risk, Industry Concentration Risk, Cash Transaction Risk, Indirect Investment Risk, and risks specific to the technology sector and internet company industry. Additional risks include, for the Direxion Daily META Bull 2X Shares, Leverage Risk and Daily Correlation Risk, and for the Direxion Daily META Bear 1X Shares, Shorting or Inverse Risk as well as Daily Inverse Correlation Risk. Please see the summary and full prospectuses for a more complete description of these and other risks of the Funds. Distributor: Foreside Fund Services, LLC. Contact Details Ditto Public Relations Danielle Black, SAE direxion@dittopr.co Company Website https://www.direxion.com/

June 05, 2024 09:00 AM Eastern Daylight Time

NMTC Funded 322 Projects, Nearly 60,000 Jobs Across the U.S. in 2023

New Markets Tax Credit Coalition

The New Markets Tax Credit Coalition today released its 2024 New Markets Tax Credit (NMTC) Progress Report, the 20 th edition of the report—providing analysis of NMTC activities in 2023. The report was prepared by the NMTC Coalition, a national membership organization of Community Development Entities (CDEs) and investors organized to advocate for the NMTC. Every year since 2005, the NMTC Coalition surveys CDEs about their work, delivering billions of dollars to businesses, creating jobs, and rejuvenating the parts of the country that have been left behind. The annual NMTC Progress Report presents the findings of the CDE survey and provides policymakers and practitioners with the latest trends and successes of the NMTC. “This report shows the NMTC is an efficient and powerful tool that drives impactful investments to low-income communities,” said Phil Glynn, NMTC Coalition Board Chair and President of Travois, a Certified B Corporation®️ focused exclusively on promoting housing and economic development for American Indian, Alaska Native and Native Hawaiian communities. “Two decades after its introduction, the NMTC remains one of the federal government’s most effective tools for job creation and economic stabilization. These investments create high quality, accessible jobs in the communities that need them most.” Report highlights include: JOBS AND INVESTMENT 322 projects totaling $7.6 billion received $4.5 billion in NMTC allocation (at a ten-year cost to the federal government of $1.17 billion). Projects generated 59,332 jobs in 2023, including 33,676 permanent full-time-equivalent (FTE) jobs and 25,656 construction jobs. The federal cost per job averaged under $20,000. AREAS TARGETED Projects in 49 states, the District of Columbia, and Puerto Rico. Severe Distress: 84.5 percent of NMTC financing went to severely distressed communities and 28.1 percent to non-metropolitan counties. A record 19 projects totaling $313.9 million in allocation (7.1 percent of all allocation) were in Indian Country or in majority-Native American, Native Hawaiian, or Native Alaskan census tracts. EQUITY PRICING NMTC equity pricing increased over the course of 2023. The median price reported was $.78, ranging from $.68 to $.92. COMPONENTS OF PROJECTS Jump-starting American Manufacturing: NMTC financing supported 89 manufacturing and industrial businesses with direct loans and equity investments for working capital, new equipment, or new or renovated industrial space, including shared, light industrial space for multiple manufacturing businesses. Real Estate: NMTC financing supported the construction or renovation of 13.5 million square feet of real estate and the construction or renovation of 1,132 homes and rental units targeted at low-to-moderate-income households. STRENGTHENING COMMUNITY ASSETS Expanding Access to Healthcare: The NMTC expanded healthcare access for residents of low-income communities through 89 projects. Those projects included 49 federally qualified health centers, safety-net hospitals, and free clinics. Expanding Access to Services: Sixty-one percent of projects (195) included at least one community facility, affordable housing, a nonprofit, or social service component. Those new community resources add up to nearly 350 nonprofits, health centers, childcare centers, libraries, community centers, and other community facilities and social service providers. Forty-two projects expanded access to vocational training, college and university facilities, financial education, support for entrepreneurs, or other adult education or workforce development programs. Project Selection Trends: In comparison to early in the program (2003-2010), in recent years (2018-2023), NMTC projects are much more likely to support healthcare, manufacturing, co-located social services, food banks, and services for people experiencing homelessness. This year, 80 CDEs participated in the survey. Their answers were supplemented by data from the Office of the Comptroller of the Currency, Open Corporate, Loopnet, annual reports, and other online materials from NMTC-financed businesses and nonprofits. “Over the course of two decades, the data show the NMTC not only delivers an unprecedented level of capital to low-income rural and urban communities, but it also creates much-needed jobs—helping individuals and families thrive and, in turn, grows those local economies where they live and work. In fact, since 2003, the NMTC has created more than one million jobs,” said Coalition spokesperson Bob Rapoza. The report showcases the importance of the NMTC in providing more than two decades worth of patient, flexible capital to businesses and projects located in distressed rural and urban communities, thereby creating jobs and growing business opportunities. The NMTC financing ranges from traditional industry and community sectors to new and cutting-edge technology. Projects and businesses that benefited from the Credit in the past year include manufacturing, healthcare, schools, and many others supporting childcare, youth, and families. Rapoza notes, “This report demonstrates that the NMTC has a 20-year track record of working, and Congress should, once and for all, expand and make the Credit permanent. It has the potential to positively impact communities across the country for decades to come.” About New Markets Tax Credit Program--The New Markets Tax Credit (NMTC) was enacted in 2000 to stimulate private investment and economic growth in low-income urban neighborhoods and rural communities that lack access to the patient capital needed to support and grow businesses, create jobs, and sustain healthy local economies. Since its inception, the NMTC has generated more than one million jobs. Today, due to the NMTC, over $135 billion is hard at work in underserved communities in all 50 states, the District of Columbia, and Puerto Rico. For more information, visit www.NMTCCoalition.org. Contact Details Greg Wilson +1 571-239-7474 gregwilsonpr@gmail.com Company Website https://nmtccoalition.org/

June 05, 2024 08:41 AM Eastern Daylight Time

Mainz Biomed (NASDAQ: MYNZ) Announces Positive Topline Results From Cancer Detection Studies, Including 92% Sensitivity Rate

Benzinga

By James Blacker, Benzinga Mainz Biomed NV (NASDAQ: MYNZ), a company that specializes in the early detection of cancer, recently shared encouraging topline results from a clinical study designed to test the next-generation version of its colorectal cancer screening tool, ColoAlert®. The company recently unveiled compelling findings from its most expansive group to date at the 2024 Annual Meeting of the American Society of Clinical Oncology (ASCO) in Chicago, Illinois, as well as virtually. The comprehensive examination consisted of 690 participants from 30 reputable gastroenterology facilities in Europe and the United States, and introduced previously unexplored and unreported specimens. The results underscored the effectiveness of Mainz Biomed's multimodal screening test, marking significant advancements in colorectal cancer detection. Notable figures include a sensitivity of 92.3% for colorectal cancer, a specificity of 90.1%, a sensitivity rate of 82.2% for advanced precancerous lesions, and an impressive high-grade dysplasia detection rate of 95.8%. With the success of this study, Mainz Biomed now plans to move forward with a major clinical trial in the U.S., which will involve up to 15,000 participants. If this next trial produces positive results, the company says its next-generation tool has the potential to disrupt the at-home colorectal cancer screening market by becoming a new gold standard. “The new data read-out demonstrates that our next generation product candidate for early-stage CRC detection utilizing mRNA biomarkers, a FIT test and a proprietary AI algorithm has consistently delivered high sensitivity and specificity for both advanced adenomas and colorectal cancer,” said Guido Baechler, CEO of Mainz Biomed, “These results represent a critical milestone on our path to launching our FDA PMA pivotal study ReconAAsense, which is planned to recruit up to 15,000 patients.” Why Early Detection Matters According to the American Cancer Society’s latest publication, the incidence of colorectal cancer has increased alarmingly since the mid-1990s, continuing to rise between 1% and 2% each year in people under the age of 55. Since the mid-2000s, the mortality rate among young people has increased at a similar rate. Colorectal cancer is the third most common cancer worldwide and the second leading cause of cancer-related deaths worldwide. However, it is also the most preventable, with early detection leading to survival rates above 90 %. About Mainz Biomed Founded in Germany, Mainz Biomed is becoming a leading global provider of easy-to-use diagnostic solutions for patients and healthcare providers everywhere. The company develops market-ready molecular genetic diagnostic solutions for life-threatening conditions. It is involved in the commercializing of its product portfolio in Europe, the United States and the rest of the world, and develops innovative products to quickly and reliably identify the early onset of several leading deadly conditions – such as pancreatic cancer and colorectal cancer. The company reports that its CE-IVD-cleared flagship product, ColoAlert, is the first DNA-based screening test for colorectal cancer in Europe, and that it is developing proprietary genetic testing methods for pancreatic cancer. For 2023, the company earned revenues of $895,479, which compared to revenues of $529,877 in 2022. What Sets ColoAlert Apart In a market with established players such as Cologuard from Exact Sciences Corporation (NASDAQ: EXAS), ColoAlert stands out as an innovative product that addresses the need for a convenient and user-friendly test. Mainz Biomed claims that ColoAlert is not only more effective than traditional blood tests at detecting precancerous polyps early but also detects more cases of colorectal cancer than other stool tests. As Mainz Biomed plans its upcoming major trial in the U.S., the company could be one to watch as a force in the fight against cancer. More information about the company can be found at mainzbiomed.com. Featured photo by Gerd Altmann on Pixabay. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

June 05, 2024 08:30 AM Eastern Daylight Time

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OncoCyte's Innovative Approach: Potential in Precision Diagnostics

RazorPitch OCX

Chronic conditions such as organ transplant rejection and cancer represent significant challenges in modern healthcare, demanding precise diagnostic tools for effective management and treatment. For organ transplant patients, the risk of graft rejection remains a persistent threat, necessitating continuous monitoring to ensure long-term success. Similarly, the complexity of cancer requires advanced diagnostics to tailor treatments to individual patients, optimizing therapeutic efficacy while minimizing adverse effects. Amidst these challenges, OncoCyte Corporation (NASDAQ: OCX ) has emerged as an innovative player in the precision diagnostics market. The company's tests enhance clinical outcomes for patients undergoing organ transplants and cancer treatments. With recent strategic partnerships and regulatory advancements, OncoCyte has spearheaded transformative advancements in the field. OCX’s product portfolio includes VitaGraft, a clinical blood-based test for monitoring solid organ transplants, and GraftAssure, a research-use-only test for the same purpose. Additionally, DetermaIO and DetermaCNI are designed for oncology applications, predicting responses to immunotherapies and monitoring therapeutic efficacy, respectively. Partnerships In April 2024, OCX partnered with Bio-Rad Laboratories (NYSE: BIO) to commercialize the GraftAssure assay. This agreement leverages Bio-Rad's extensive reach and expertise in the life sciences sector, facilitating the co-marketing of GraftAssure in the U.S. and Germany. Bio-Rad holds exclusive global distribution rights outside these regions. This collaboration is pivotal for scaling OncoCyte's operations and meeting the growing demand for transplant diagnostics. The partnership also includes an option for Bio-Rad to acquire IVD commercial rights upon FDA clearance, subject to specific milestones. This option comes with a second equity investment into OncoCyte, reflecting Bio-Rad's confidence in the product's market potential. Riggs noted, "The QX600 ddPCR platform, along with their expertise in the life science market, makes Bio-Rad a natural partner for our transplant technology." Financial Performance OncoCyte's Q1 2024 financial results indicate a strategic focus on commercialization and cost-efficiency. The company reported gross proceeds of $15.8 million from an equity private placement, including a significant investment from Bio-Rad. This funding is crucial for advancing OncoCyte's product pipeline and expanding its market presence. Operational efficiency is evident, with OncoCyte reducing its cash burn to $3.9 million, reflecting a capital-efficient business model. The collaboration with Bio-Rad and the anticipated commercial launch of GraftAssure RUO test kits in Asia, the U.S., and the EU are expected to drive revenue growth and broaden the company's market reach. Riggs remarked, "The collaboration with Bio-Rad is pivotal for the upcoming launch of our GraftAssure RUO transplant rejection diagnostic test kit and central to our mission of developing accessible point-of-care diagnostics and continuous innovation in transplant rejection monitoring." Publication in New England Journal of Medicine OCX announced a significant milestone on May 30, 2024, with the publication of promising data on VitaGraft Kidney in the New England Journal of Medicine. This phase 2 study highlights VitaGraft Kidney’s potential to revolutionize kidney transplant care by accurately monitoring graft health through measuring donor-derived cell-free DNA (dd-cfDNA). For investors, this development signals substantial market potential. VitaGraft Kidney's ability to monitor therapeutic efficacy and detect disease recurrence opens new revenue streams. This test could become a standard in post-transplant care, driving repeated testing and long-term revenue. VitaGraft Kidney addresses a critical unmet need. Up to 20.2% of kidney transplant patients develop antibody-mediated rejection (AMR) within 10 years, with no FDA-approved drugs currently available for AMR management. The combination of VitaGraft testing and felzartamab therapy offers a promising solution, potentially improving patient outcomes and healthcare efficiency. OCX CEO Josh Riggs emphasized the breakthrough nature of this study, stating, “This positions VitaGraft Kidney as a crucial tool in managing transplant health. Our recent partnership with Bio-Rad expands our capacity to deliver these innovative solutions globally.” Riggs highlighted the test’s competitive edge in detecting AMR up to 10 months earlier than current protocols, enhancing patient care, and strengthening OncoCyte’s market position. The findings will be presented at the 2024 American Transplant Congress on June 3, 2024. This presentation is expected to further validate VitaGraft Kidney’s clinical value and could act as a catalyst for broader market adoption. OncoCyte’s latest publication not only validates VitaGraft Kidney’s clinical potential but also strengthens the company’s market position. As OCX continues to innovate and expand its market reach, investors can anticipate significant growth opportunities in the precision diagnostics sector. Disclaimers: RazorPitch Inc. "RazorPitch" is not operated by a licensed broker, a dealer, or a registered investment adviser. This content is for informational purposes only and is not intended to be investment advice. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. 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June 05, 2024 07:00 AM Eastern Daylight Time

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