Categoría: Geovanny Vicente

Washington Fails American Cities, Threatens Economic Recovery

WASHINGTON, Dec. 22, 2020 /PRNewswire/ — Today, U.S. Conference of Mayors (USCM) President and Louisville Mayor Greg Fischer released the following statement in response to the congressional agreement on a coronavirus relief package:

WASHINGTON, Dec. 22, 2020 /PRNewswire/ — Today, U.S. Conference of Mayors (USCM) President and Louisville Mayor Greg Fischer released the following statement in response to the congressional agreement on a coronavirus relief package:

«Despite the clear evidence that shrinking revenue in cities across the country is leading to job loss and the reduction of critical services like public safety, Congress chose to turn its back on first responders, police, firefighters and other essential workers by failing to include direct fiscal assistance for all cities in its relief package. Congress has callously abandoned the very people who are the backbone of American cities and have served their communities on the frontlines with an indefatigable spirit for the last nine months.

«With support from economic voices on the right and the left, mayors from cities large and small – Republican, Democratic and Independent alike – have been sounding the alarm about the urgently needed fiscal assistance to position cities to drive, not drag, recovery. Congress’ refusal to acknowledge this reality will have significant consequences for our recovery, making it much harder for our economy to rebound.

«Millions of people are hurting today because of this pandemic, and it’s good news that relief is on the way for American families, small businesses, and the unemployed. But it is simply not good enough. The pandemic has shattered the budgets of local governments, and Washington’s unwillingness to help has cost people jobs and made communities less safe. 

«This cannot be the final act in response to this ongoing devastating pandemic. Mayors are now calling on, and counting on, President-elect Biden to put forth on day one of his administration an immediate proposal for emergency fiscal assistance for state and local governments to ensure that our frontline workers, the people who are keeping our nation going during this pandemic and economic recovery, are not left behind.»

About The United States Conference of Mayors — The U.S. Conference of Mayors is the official nonpartisan organization of cities with populations of 30,000 or more. There are nearly 1,400 such cities in the country today, and each city is represented in the Conference by its chief elected official, the mayor. Like us on Facebook at facebook.com/usmayors, or follow us on Twitter at twitter.com/usmayors.

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SOURCE U.S. Conference of Mayors

GFL Environmental Announces Closing of Senior Secured Notes and Repricing of Term Loan Facility

VAUGHAN, ON, Dec. 22, 2020 /PRNewswire/ – GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) («GFL» or the «Company») today announced the closing of its US$750.0 million principal amount of 3.500% senior secured notes due 2028 (the «Notes»). The net proceeds from the offering of the Notes (the «Notes Offering») were used repay a portion of amounts outstanding under the Company’s term loan facility due 2025 and to pay related fees and expenses. GFL also announced that it has…

VAUGHAN, ON, Dec. 22, 2020 /PRNewswire/ – GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) («GFL» or the «Company») today announced the closing of its US$750.0 million principal amount of 3.500% senior secured notes due 2028 (the «Notes»). The net proceeds from the offering of the Notes (the «Notes Offering») were used repay a portion of amounts outstanding under the Company’s term loan facility due 2025 and to pay related fees and expenses. GFL also announced that it has completed its repricing of the balance of the term loan facility, representing approximately US$1.31 billion, by reducing the LIBOR floor from 1.00% to 0.50%.

The Notes Offering, repayment of a portion of the term loan facility and the term loan repricing will extend the Company’s maturity profile and reduce its annual interest expense by an expected C$13.5 million.

«I am incredibly proud of what our employees have achieved this year», said Patrick Dovigi, Founder and CEO of GFL. «Even in the face of a global pandemic, we were able to execute on our growth strategy by delivering exceptional financial results, completing accretive acquisitions and reducing our cost of capital with a view to increasing our free cash flow. Raising US$750 million of 3.500% notes due 2028 to repay a portion of our term loan due 2025 and repricing the balance of our term loan are further examples of our commitment to execute on our long-term strategy.» Mr. Dovigi continued, «We have a very supportive group of institutional lenders and debt investors. Since completing our initial public offering earlier this year, we have successfully raised US$1.75 billion, at significantly better rates, to pay for acquisitions and retire more expensive debt.  We also repriced both our revolving credit facility and our term loan facility, making us one of the first North American public companies to reprice a term loan since March 2020.» Mr. Dovigi concluded, «We look forward to starting 2021 with a stronger balance sheet and focused on delivering on our mission to grow the Company, serve our customers safely and create shareholder value over the long-term.»

About GFL

GFL, headquartered in Vaughan, Ontario, is the fourth largest diversified environmental services company in North America, providing a comprehensive line of non-hazardous solid waste management, infrastructure & soil remediation and liquid waste management services through its platform of facilities throughout Canada and in 27 states in the United States. Across its organization, GFL has a workforce of more than 13,000 employees and provides its broad range of environmental services to more than 135,000 commercial and industrial customers and its solid waste collection services to more than 4 million households.

Forward-Looking Statements

This release includes certain «forward-looking statements», including statements relating to the Company’s growth strategy. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward looking terminology such as «plans», «targets», «expects» or «does not expect», «is expected», «an opportunity exists», «is positioned», «estimates», «intends», «assumes», «anticipates» or «does not anticipate» or «believes», or variations of such words and phrases or state that certain actions, events or results «may», «could», «would», «might», «will» or «will be taken», «occur» or «be achieved». In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management’s current beliefs, expectations, estimates and projections regarding future events and operating performance. Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by GFL as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the «Risk Factors» section of the Company’s final prospectus relating to its initial public offering dated March 2, 2020 and the Company’s other periodic filings with the SEC and the securities commissions or similar regulatory authorities in Canada. These factors are not intended to represent a complete list of the factors that could affect GFL. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. GFL undertakes no obligation to publicly update any forward-looking statement, except as required by applicable securities laws.

For more information, contact:

Patrick Dovigi

Founder and CEO

905-326-0101

pdovigi@gflenv.com

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SOURCE GFL Environmental Inc.

2020 Marks Explosive Growth for Digital Transformation Innovator PDFTron

Document processing leader powers the software that helps us get on with life

VANCOUVER, BC, Dec. 22, 2020 /PRNewswire/ – PDFTron Systems Inc., the world’s leading provider of document technology solutions for software developers, today announced that is has achieved 80%+ year-over-year bookings growth in 2020 fueled by product innovation, strategic acquisitions and go-to-market execution against the backdrop of a work-from-home-environment that accelerated digital…

Document processing leader powers the software that helps us get on with life

VANCOUVER, BC, Dec. 22, 2020 /PRNewswire/ – PDFTron Systems Inc., the world’s leading provider of document technology solutions for software developers, today announced that is has achieved 80%+ year-over-year bookings growth in 2020 fueled by product innovation, strategic acquisitions and go-to-market execution against the backdrop of a work-from-home-environment that accelerated digital transformation. PDFTron has driven a 3x growth in revenues since receiving a US $71 million strategic growth investment in May 2019 from Silversmith Capital Partners.

According to PDFTron CEO Catherine Andersz, «We are on a growth trajectory spurred by product innovation that drives the paper-to-digital transformation. Documents are core to how people work, transact business, and communicate in everyday life. The way healthcare records are shared, how sales contracts are signed, how evidence is presented in court, or how a teacher marks student homework – these are all examples of paper-reliant processes, accelerated into digital workflows in 2020. Throughout the year, we solidified our role as the backbone of this transformation, powering the software organizations and end-user consumers alike used to get on with life and work despite the incredible challenges of the year.»

Key 2020 milestones for the company included:

  • Triple-digit growth in the company’s SDK business.
  • Significant momentum in executing on the company’s inorganic category consolidation strategy with the acquisitions of ActivePDF, Iceni Technology, and BCL Technologies, which expanded the PDFTron platform and added more than 1,200 B2B customers.
  • Increased headcount by nearly 200% through aggressive talent recruiting and acquisition.
  • Significant growth of XODO, PDFTron’s consumer-focused document productivity and collaboration product, rising to 18M unique users and over 3M monthly active users. It remains the #1-rated, free PDF productivity app on the Google Play Store with a 4.7/5-star rating compared to Adobe Reader’s 4.6.
  • Prevented the printing of a massive volume of paper worldwide as paper-based processes were replaced by digital document collaboration powered by PDFTron in consumer, government and business activities.

Chances are that if you collaborated on a document in 2020, your digital document experience was powered by PDFTron. With a platform offering document viewing, editing, signature, annotation, collaboration, conversion, redaction, intelligent content extraction, and more, PDFTron powers hundreds of commonly-used software applications, such as DocuSign, Autodesk, Veeva Vault, Diligent Boards, and Trimble Navigation and is the underlying technology enabling internal digital transformation projects at State Street Corporation, FAA, BMW, Wells Fargo and the US Department of Human Health Services among many others. 

«What we’ve seen in 2020 is the rapid acceleration of a change that was already well underway. To drive productivity, better assess risk and become more environmentally responsible, business, government and consumers must digitize paper-based processes. We anticipate this is a new operating normal. In 2021, in the US alone, fully 25% of the workforce will work remotely, and by 2025, more than 36 million Americans will work from home permanently, up 87% over pre-pandemic levels*. Digital document processing is a critical enabler of this shift, and we see continued strong demand from enterprises, software makers and consumers,» added Craig Clark, CMO, PDFTron.

*Future Workforce Pulse Report, Upwork, December 15, 2020

About PDFTron Systems Inc.

Headquartered in Vancouver, BC, PDFTron is a premier global provider of high-performance document processing technology serving customers across a broad spectrum of industries. PDFTron’s market-leading SDK drives digital transformation and powers next generation software applications with dynamic document viewing, annotation, processing, and conversion capabilities, as well as advanced features such as document understanding, data extraction, and redaction. PDFTron technology supports all major platforms and dozens of unique file types, including support for PDF, MS Office, and CAD formats. For more information, visit www.pdftron.com.

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SOURCE PDFTron

Lawmakers Introduce Federal Legislation To Prevent Organ Transplant Discrimination

WASHINGTON, Dec. 22, 2020 /PRNewswire/ — The National Down Syndrome Society (NDSS), the leading human rights organization for all individuals with Down syndrome, applauds the introduction of the Charlotte Woodward Organ Transplant Discrimination Prevention Act to uphold the rights of qualified organ transplant candidates who have a disability.

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WASHINGTON, Dec. 22, 2020 /PRNewswire/ — The National Down Syndrome Society (NDSS), the leading human rights organization for all individuals with Down syndrome, applauds the introduction of the Charlotte Woodward Organ Transplant Discrimination Prevention Act to uphold the rights of qualified organ transplant candidates who have a disability.

People with physical and intellectual disabilities are barred from receiving a life-saving organ in many states.

Introduced by Congresswoman Jaime Herrera Beutler (R-WA) and Katie Porter (D-CA), the Charlotte Woodward Organ Transplant Discrimination Prevention Act prohibits discrimination against individuals based on their disability when seeking an organ transplant. This legislation would uphold and enforce rights established in the Americans with Disabilities Act of 1990.

«Despite federal protections, people with physical and intellectual disabilities are barred from receiving a life-saving organ in many states. This discrimination is a violation of their basic human rights,» said NDSS Director of Government Relations Ashley Helsing. «Passage of the Charlotte Woodward Organ Transplant Discrimination Prevention Act will save countless lives of people in dire need of transplants.»

If passed, the Charlotte Woodward Organ Transplant Discrimination Prevention Act will ensure that a person’s capacity to comply with post-transplant treatment requirements is not a significant reason to deny them a transplant procedure. Furthermore, this bill requires that health care providers make policies, practices and procedures accessible to qualified recipients with disabilities.

The bill is named for Charlotte Woodward, an advocate with Down syndrome and member of the NDSS staff who received a life-saving heart transplant nearly nine years ago. Since then, she has advocated tirelessly to ensure others with Down syndrome and other disabilities have the same access to transplants.

«As one of the very few people in the world with Down syndrome who has had the opportunity to receive a life-saving heart transplant, I am so very, very grateful that people with disabilities will have the same opportunity as I in the future,» said Charlotte Woodward, for whom the bill is named. «In the past, too many precious lives were lost due to discrimination in organ transplantation. I am so very, very thankful for the generosity of my heart donor and that of her loving family. Her gift has allowed me to live my life to the fullest and to go on to advocate for others to be able to do the same. The passage of this bill will be a monumental step towards a more just world, and I am proud to play a part in it.» 

«There are misconceptions that people with disabilities can’t manage the treatment needed after an organ transplant or wouldn’t benefit from such an operation – and those claims are simply not true,» Herrera Beutler said. «Charlotte Woodward is a wonderful woman with Down syndrome who is also the namesake for this legislative solution. Charlotte has been sharing her experience of successfully receiving and managing a heart transplant in order to put an end to this discrimination and help more people receive the life-saving gift of organ donation. I’m proud to introduce legislation with my colleague, Rep. Katie Porter, to ensure that people with disabilities aren’t turned away when they’re in need of life-saving organ transplant.»

State-level legislation enforcing non-discrimination policies for organ transplants has been passed in thirteen states, including California, New Jersey, Maryland, Massachusetts, Oregon, Delaware, Kansas, Ohio, Louisiana, Indiana, Virginia, Iowa and Missouri. This federal legislation would reinforce rights protected under the Americans with Disabilities Act and end-organ transplant discrimination across the country.

NDSS has resources available to assist those willing to support non-discrimination in organ transplantation for people with disabilities. For more information, please visit https://www.ndss.org/advocate/ndss-legislative-agenda/healthcare-research/nondiscrimination-in-organ-transplantation-laws-toolkit/.

About NDSS: 
The National Down Syndrome Society (NDSS) is the leading human rights organization for all individuals with Down syndrome. NDSS envisions a world in which all people with Down syndrome have the opportunity to enhance their quality of life, realize their life aspirations and become valued members of welcoming communities. Founded in 1979, NDSS supports and advocates for the Down syndrome community by focusing on three key areas of programming: Resources & Support, Policy & Advocacy and Community Engagement. Within these focus areas NDSS engages in various activities, events and programs such as the National Advocacy & Policy Center, which seeks to create systemic change through engaged advocacy; the National Buddy Walk® Program, which honors and celebrates individuals with Down syndrome in local communities across the world, and other initiatives that provide support, informational resources and community engagement opportunities for individuals with Down syndrome and those who support them. Visit www.ndss.org for more information about NDSS.  

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SOURCE National Down Syndrome Society

RWE concludes tax equity financing on Cranell Onshore Wind Farm

AUSTIN, Texas, Dec. 22, 2020 /PRNewswire/ —

Silvia Ortin, COO Onshore Wind and Solar PV…

AUSTIN, Texas, Dec. 22, 2020 /PRNewswire/ —

Silvia Ortin, COO Onshore Wind and Solar PV Americas, RWE Renewables: «The U.S. plays a key role in our strategy to expand our renewables business. In partnering with JPM Capital Corporation on tax equity financing for our Cranell onshore wind farm, we demonstrate that our high-quality projects are attractive investments to institutional investors. At the same time we are able to enhance our project’s value. We continue to move forward with substantial investment in rural areas across the U.S.»

RWE Renewables, one of the world’s leading renewable energy companies, has completed the successful tax equity financing of its 220-megawatt (MW) Cranell Onshore Wind Farm in Refugio County, Texas.

The company secured tax equity financing with JPM Capital Corporation upon the Cranell project achieving commercial operation in the third quarter of 2020.

«We are proud of our record of working hand-in-hand with the communities where our renewables projects are located, throughout our many years of experience in the U.S. onshore wind industry,» said Silvia Ortin, COO Onshore Wind and Solar PV Americas. «In addition to hiring many of the permanent positions from the local region, Cranell brings significant benefits to the local economy.»

During the next 30 years, Cranell is projected to generate more than $50 million in property taxes for Refugio County, Bee County, Woodsboro Independent School District, and Skidmore-Tynan Independent School District. This additional revenue will support essential county services and local schools.

The project is powered by 100 Vestas 2.2 MW turbines and will have the capacity to generate enough electricity to power more than 66,000 homes. With the addition of Cranell, RWE operates 25 onshore wind farms in the U.S. with a total installed capacity of more than 4,200 MW (RWE’s pro rata share is about 3,600 MW).

Cranell is the second of RWE’s U.S. onshore wind projects to come online this year with a remarkable safety record, going more than 434,000 work hours without a recordable safety incident. Already in March, Peyton Creek (151 MW), also in Texas, achieved commercial operation after completing construction incident-free.

RWE has, at the moment, almost 1 GW of onshore wind farms under construction in the U.S. The projects are located in Texas, Oklahoma, Ohio and New York State.

RWE constructs, owns and operates some of the highest performing wind, solar and energy storage projects in the U.S. As an established leader in renewables, RWE has recently entered into a joint venture, New England Aqua Ventus, focused on floating offshore wind in the state of Maine.

For more information, go to americas.rwe.com.

For further inquiries:

Matt Tulis                                 

Communication Manager

RWE Renewables                              

M +1 512 698 4043                           

E matthew.tulis@rwe.com            

RWE Renewables
RWE Renewables, the newest subsidiary of the RWE Group, is one of the world’s leading renewable energy companies. With around 3,500 employees, the company has onshore and offshore wind farms, photovoltaic plants and battery storage facilities with a combined capacity of approximately 9 gigawatts. RWE Renewables is driving the expansion of renewable energy in more than 15 countries on four continents. By the end of 2022, RWE Renewables targets to invest €5 billion net in renewable energy and to grow its renewables portfolio to 13 gigawatts of net capacity. Beyond this, the company plans to further grow in wind and solar power. The focus is on the Americas, the core markets in Europe and the Asia-Pacific region.

 

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SOURCE RWE Renewables

New Markets Tax Credit Receives Five-Year, $5 Billion Extension

WASHINGTON, Dec. 22, 2020 /PRNewswire/ — The Consolidated Appropriations Act of 2021,  passed by the House and Senate and expected to be signed by the President includes a five-year, $25 billion annual extension of the New Markets Tax Credit (NMTC), the largest extension in the history of the Credit. This allocation will go far to deliver resources to low-income and marginalized communities, creating jobs, increasing economic opportunity and improving lives at a…

WASHINGTON, Dec. 22, 2020 /PRNewswire/ — The Consolidated Appropriations Act of 2021,  passed by the House and Senate and expected to be signed by the President includes a five-year, $25 billion annual extension of the New Markets Tax Credit (NMTC), the largest extension in the history of the Credit. This allocation will go far to deliver resources to low-income and marginalized communities, creating jobs, increasing economic opportunity and improving lives at a time when the economic frailty of our underserved communities has never been more apparent. 

The NMTC, which faced expiration on December 31 after 20 years of success stories and strong bipartisan support, is one of only two tax extenders to receive a five-year extension. By providing $5 billion annually for 2021-2025, the Consolidated Appropriations Act of 2020 exceeds the $17.5 billion authorization included in the PATH Act of 2015.

The projected annual impact of $5 billion in New Markets Tax Credits includes an estimated 690 new manufacturing expansions and industrial projects; 275 mixed-use projects combining housing, commercial, and social services; 255 new or improved health clinics, hospitals, and medical offices; and 775 investments in daycare centers, Boys and Girls Clubs, and other community facilities. It will also generate an estimated 590,000 jobs.

Established in 2000 in the Community Renewal Tax Relief Act (P.L.106-554), the New Markets Tax Credit is a bipartisan effort to stimulate investment and economic growth in low-income urban neighborhoods and rural communities. Since then, the New Markets Tax Credit has financed more than 6,500 projects and created over one million jobs in all 50 states, the District of Columbia and Puerto Rico.

«As we celebrate the 20th anniversary of the New Markets Tax Credit this five year extension  is absolutely vital for many of America’s urban neighborhoods and rural communities that have been devastated by the impacts of the global COVID-19 pandemic  and will  provide  billions of dollars for high-impact, community revitalization projects businesses,» said Bob Rapoza, spokesperson for the NMTC Coalition. «No other federal tax incentive is generally available to economically distressed rural and urban communities to promote economic revitalization.  All NTMC financing goes to low-income areas, and 80 percent goes to the poorest communities in America, far exceeding statutory requirements. We appreciate the leadership of several Members of Congress in gaining this victory for communities, including Sens. Roy Blunt (R-MO) and Ben Cardin (D-MD) and Reps. Terri Sewell (D-AL), Tom Reed (R-NY). We also are grateful to Ways and Means Committee Chairman Richard Neal (D-MA) who is a longtime supporter of NMTC.»

«Communities have come to count on the NMTC as a source of low-cost capital for challenging projects that would not have been possible but-for the NMTC,» said NMTC Coalition President Yvette Ittu, the President of Cleveland Development Advisors. «Since its inception, the Credit has delivered well over $105 billion in flexible capital to farming towns and urban neighborhoods left outside the economic mainstream. During this difficult time for many communities that were already struggling, the NMTC provides a tremendous opportunity to create jobs, spread opportunity and help put America back on a solid financial footing.»

For examples of how the NMTC is making an impact in each state, see the NMTC Coalition’s newly released report, NMTC at Work in Communities Across America, featuring updated state statistics sheets on NMTC efficacy and more than 80 Tax Credit success stories.

About New Markets Tax Credit Program

The New Markets Tax Credit (NMTC) was enacted in 2000 in an effort 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 NMTC, more than $105 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: Ayrianne Parks
ayrianne@rapoza.org 
(202) 393-5225

 

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SOURCE New Markets Tax Credit Coalition

GridWise Alliance Applauds Congress For Passing Comprehensive Energy Bill

WASHINGTON, Dec. 22, 2020 /PRNewswire/ — The GridWise Alliance congratulates the Senate Energy and Natural Resources Committee, the House Energy and Commerce Committee, and the House Science, Space and Technology Committee for their diligent efforts in crafting a comprehensive energy bill that was approved by Congress as part of the comprehensive Omnibus Bill that passed through Congress late yesterday.

…

WASHINGTON, Dec. 22, 2020 /PRNewswire/ — The GridWise Alliance congratulates the Senate Energy and Natural Resources Committee, the House Energy and Commerce Committee, and the House Science, Space and Technology Committee for their diligent efforts in crafting a comprehensive energy bill that was approved by Congress as part of the comprehensive Omnibus Bill that passed through Congress late yesterday.

«The diverse GridWise membership led our industry’s voice in 2007 to help craft Title XIII in the last energy bill, EISA 2007,» GridWise Alliance CEO Steve Hauser said. «We are pleased that Congress has now updated Title XIII with new measures to address the climate crisis and economic growth.  Our industry is going through a transition to address the many improvements that we need to make, and this new legislation will help in that transition.»

This new energy bill contains a variety of important policies and programs within the package that will support the electricity industry’s ongoing efforts to modernize. The package outlines measures related to clean energy, promoting American manufacturing, improving energy efficiency, grid and supply chain security, as well as transportation and other electrification needs.

«We are particularly pleased with the emphasis it places on the Department of Energy to work more closely with industry» said Karen Wayland, Policy Advisor of the GridWise Alliance.  «GridWise and our members’ continued efforts have raised the visibility of many key challenges that are facing our industry.» 

The GridWise Alliance and its members believe that the electric grid and its supporting infrastructure is the foundational component of an advanced digital economy.  The changes we make to the electricity grid over the next decade are critical to decarbonizing our energy system. 

About GridWise Alliance
The GridWise Alliance represents the broad and diverse stakeholders that design, build, and operate the electric grid.  Since 2003, the GridWise Alliance has been at the forefront of educating key industry stakeholders on the critical need to modernize our nation’s electricity system. For more information about the GridWise Alliance, visit: www.gridwise.org.

Media Contact:
Richard O’Neill
Executive Director
GridWise Alliance
roneill@gridwise.org 
(202) 530-9740 

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SOURCE GridWise Alliance

Orea Completes Montagne d’Or Gold Project Modifications

VANCOUVER, BC, Dec. 22, 2020 /PRNewswire/ – Orea Mining Corp. («Orea» or the «Company») (TSX: OREA) (OTCQX: OREAF) (FRA: 3CG) is pleased to announce the completion of additional engineering and environmental studies for the development of the Montagne d’Or gold mine in French Guiana, France.

«This is a major milestone for permitting of Montagne d’Or, one of the top undeveloped gold deposits in…

VANCOUVER, BC, Dec. 22, 2020 /PRNewswire/ – Orea Mining Corp. («Orea» or the «Company») (TSX: OREA) (OTCQX: OREAF) (FRA: 3CG) is pleased to announce the completion of additional engineering and environmental studies for the development of the Montagne d’Or gold mine in French Guiana, France.

«This is a major milestone for permitting of Montagne d’Or, one of the top undeveloped gold deposits in the Guiana Shield» commented Rock Lefrançois, President & CEO of Orea.

The Montagne d’Or joint-venture (owned 44.99% by Orea and 55.01% by Nord Gold SE) launched additional engineering and environmental studies in early 2019 for project modifications and improvements subsequent to the bankable feasibility study completed in 2017 and public consultation held in 2018. The studies principally addressed mine design, access road layout, hybrid on-site power generation and quarry development for construction material. They also included additional fauna and flora inventories, geotechnical drilling, ground geophysical surveys, geochemical analysis and laboratory test work.

The complimentary studies, which involved a number of international and French and local consulting firms, are now substantially complete with final fauna and flora surveys over the selected Natural Compensation Site to be conducted in February 2021. The current schedule is to have all draft versions of the permitting dossiers to be completed by the end of December 2020 with final versions to be produced in the first quarter of 2021.

The principal components of the completed studies include:

  • Tailings storage facility redesign, lowering the height of retainment dams and dam break study;
  • On-site hybrid solar power generation, eliminating the environmental impacts of connecting the mine to the local power grid, which involved the construction of a 106-km aerial power line, reducing the overall carbon emissions of the project by 80%;
  • Waste management plan and waste rock storage redesign to avoid acid drainage;
  • Hydrogeological modelling, detailed water management, water balance and contact water pond design;
  • Quarry development for construction material and multi-criterion comparative analysis of the studied quarry site alternatives;
  • Detailed redesign of the 125 km access road from Saint-Laurent du Maroni, stormwater and safety devices, bridges, watercourse crossings, retaining walls and rehabilitation of abandoned sections;
  • Hazardous material transport study and supply, transport and storage of explosives;
  • Overall project mass balance and site closure and rehabilitation plan; and
  • Natural Compensation Site development.

About Montagne d’Or

Montagne d’Or is a permitting-stage open pit gold deposit that hosts Measured Mineral Resources of 10.3 Mt at 1.804 g/t (600,000 oz), Indicated Mineral Resources of 74.8 Mt at 1.350 g/t (3.25 Moz) and additional Inferred Mineral Resources of 20.2 Mt at 1.48 g/t gold (960,000 oz), prepared in accordance with the requirements of National Instrument 43-101 – Standards of Disclosure for Mineral Projects («NI 43-101«). The Mineral Resources are confined within a pit shell defined by a gold price of US$1,300/oz and a cut-off grade of 0.4 grams per tonne gold. Mineral Reserves have also been defined with Proven Mineral Reserves of 8.25 Mt at 1.99 g/t (530,000 oz) and Probable Mineral Reserves of 45.87 Mt at 1.50 g/t (2.2 Moz). The Proven and Probable Mineral Reserves were estimated using a gold price of US$1,200 per ounce at varied cut-off grades from 0.552 to 0.665 grams per tonne gold, dependent on lithological rock types, economics and estimated metallurgical recovery. Montagne d’Or ore can be readily processed to recover the contained gold and silver values using unit operations considered standard to the industry. It is a large and unique Paleoproterozoic gold-rich volcanogenic sulfide deposit, presently drill-defined over a strike extent of 2,300 meters and to a vertical depth of 200 to 250 meters.

Montagne d’Or is located in northwestern French Guiana, 180 kilometers west of the capital Cayenne and is accessed by 125 kilometers of laterite road from the commune of Saint-Laurent du Maroni, the second largest city in French Guiana. Nordgold first earned a 50.01% interest in the project in September 2017 by spending US$30 million and completing a Bankable Feasibility Study («BFS«). Nordgold then acquired an additional 5% interest pursuant to a share purchase agreement.

The 2017 BFS contemplates an open pit operation over a 12-year mine life. Highlights of the BFS at a gold price of US$1,250 per ounce are as follows:

  • After-tax Net Present Value (NPV) at a 5% discount rate: US$370 million
  • After-tax Internal Rate of Return (IRR): 18.7%
  • After-tax payback period: 4.1 years
  • Average annual gold production for years 1 to 10: 237,000 ounces
  • Average gold grade for years 1 to 10: 1.73 grams per tonne gold
  • All-In Sustaining Cost (AISC) for years 1 to 10: US$749 per ounce of gold
  • Initial capital expenditures (after surplus tax credit): US$361 million

The BFS economic model gold price sensitivity shows that the after-tax project NPV at a 5% discount rate changes approximately US$1.24 million for every US$1 change in gold price. At a gold price of US$1,500 per ounce, the NPV and IRR increase respectively to US$681 million and 26.7%.

Upside Potential of Montagne d’Or

There are several opportunities to increase the current Mineral Reserves and mine life within the designed resource pit. Approximately 2 million ounces of Mineral Resources are not converted to Mineral Reserves, which include Inferred Mineral Resources of 960,000 ounces of gold at average grade of 1.48 grams per tonne gold. Infill drilling has the potential to convert some of these Inferred Mineral Resources to higher resource classification categories.

There is also the potential to lower the cut-off grade used for the Mineral Reserve estimates, in consideration of the current higher gold price, which could convert some additional Indicated Mineral Resources into Mineral Reserves.

Limited drilling has been carried-out outside the resource pit. The 2017 drilling program was successful in confirming gold mineralization up to 400 meters on strike to the west (0.56 g/t gold over 58.1 meters, including 2.32 g/t gold over 9.0 meters) and at depth, 100 meters below the resource pit (0.92 g/t Au over 41.2 meters, including 1.92 g/t Au over 17.7 meters) (see Orea’s news release dated August 15, 2017).

For more information, see Orea’s news release titled «Columbus Gold Announces Positive Bankable Feasibility Study for Montagne d’Or Gold Project, French Guiana» dated March 20, 2017 and filed on SEDAR and the technical report prepared in accordance with the requirements of NI 43-101 titled «NI 43-101 Technical Report, Bankable Feasibility Study – Montagne d’Or Project, French Guiana» by SRK Consulting for Columbus Gold (now Orea Mining) and Nordgold with an Effective Date of March 6, 2017, and a report date of April 28, 2017, which was filed on SEDAR on April 28, 2017.

Qualified Person

Rock Lefrançois, President & Chief Executive Officer of Orea and Qualified Person under National Instrument 43-101, has reviewed this news release and is responsible for the technical information reported herein, including verification of the data disclosed.

About Orea Mining

Orea Mining is a leading gold exploration and development company operating in a prospective and underexplored segment of the Guiana Shield, South America. Its mission is to develop gold deposits with a reduced environmental footprint using innovative technologies, upholding the highest international standards for responsible mining. In French Guiana, Orea Mining holds a major interest in the world-class Montagne d’Or mine development project. It is also advancing the Maripa gold exploration project.

For more about Orea Mining visit the company’s website at www.oreamining.com.

ON BEHALF OF THE BOARD:

Rock Lefrancois
President & CEO

Forward-looking statements

Certain statements made herein, including statements relating to matters that are not historical facts and statements of the Company’s beliefs, intentions and expectations about developments, results and events which will or may occur in the future, constitute «forward looking information» within the meaning of applicable Canadian securities legislation («forward-looking statements»). Forward-looking statements relate to future events or future performance, reflect current expectations or beliefs regarding future events and are typically identified by words such as «anticipate», «could», «should», «expect», «seek», «may», «intend», «likely», «budget», «plan», «estimate», continue», «forecast», «believe», «predict», «potential», «target», «would», «might», «will», and similar words, expressions or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. These include, but are not limited to, statements and information regarding: the Company’s plans to construct and develop the Montagne d’Or project, including anticipated timing thereof; the satisfaction of regulatory requirements in respect of the permitting and construction of the Montagne d’Or project, including but not limited to, the submission and processing of mine permit applications, the timing thereof and the timing of completion of environmental and engineering studies; the Company’s ability to renew the concessions for the Montagne d’Or project and to comply with the conditions thereof; economic analysis for the Montagne d’Or project and related exploration objectives and plans; the conversion of mineral resources into mineral reserves and the conversion of inferred mineral resources into higher resource classification categories; the Company’s objective of become an emerging gold producer; the acquisition of exploration projects including terms of acquisition, exploration or development plans, intentions to acquire additional exploration or development interests and the implications thereof; future exploration and mine plans, objectives and expectations and corporate planning of the Company, future studies and environmental impact statements and the timetable for completion and content thereof and statements as to management’s expectations with respect to, among other things, the matters and activities contemplated in this news release.

Forward-looking statements are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such statements. Such assumptions and analyses are made by the Company’s management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are reasonable and appropriate in the circumstances. There can be no assurance that such statements will prove to be accurate. Forward-looking statements are based on numerous assumptions regarding present and future business strategies, local and global economic conditions, and the environment in which the Company will operate in the future, including compliance by the Company with regulatory and permitting requirements applicable in French Guiana, the sufficiency of Company’s working capital; the Company’s ability to secure additional funding for the continued exploration and development of its properties; the price of gold and other metals; and the Company’s ability to retain key personnel. You are hence cautioned not to place undue reliance on forward-looking statements.

Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, political and economic risks in France, political and economic risks in French Guiana, risks related to the renewal applications for the Concessions and the possible outcomes thereof; possible negative outcomes of the proceedings in the Administrative Court of Cayenne in French Guiana; regulatory risk including but not limited to unforeseen changes in regulatory requirements, the Company’s ability to enforce its contractual and other legal rights to explore and exploit its properties, risks related to exploration and development, permitting and licensing risk, the estimation of mineral resources and mineral reserves and related interpretations and assumptions, future profitability of the Company, the ability to obtain additional financing on a timely basis, the price of gold and marketability thereof, government regulations including with respect to taxes, royalties, land tenure and land use, title to the Company’s properties, currency exchange rates and fluctuations, environmental risks, dilution resulting from the issuance of additional securities of the Company, joint venture risks, reliance on Nord Gold SE as operator of the Montagne d’Or project, the availability of equipment, conflicts of interest, competition in the mining industry, uninsured risks, market fluctuations, global financial conditions, credit risk and risks arising from pandemics and epidemics such as the COVID-19 pandemic. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.

Readers are cautioned not to place undue reliance on forward-looking statements. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predicted outcomes will not occur. Events or circumstances could cause the Company’s actual results to differ materially from those estimated or projected and expressed in, or implied by, these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are included in the «Risk Factors» section in the Company’s annual information form dated December 11, 2020 for the year ended September 30, 2020 («AIF»).

Readers are further cautioned that the list of factors enumerated in the «Risk Factors» section of the AIF that may affect future results is not exhaustive. When relying on the Company’s forward-looking statements and information to make decisions with respect to the Company, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Furthermore, the forward-looking statements and information contained herein are made as of the date of this document and the Company does not undertake any obligation to update or to revise any of the included forward-looking statements or information, whether as a result of new information, future events or otherwise, except as required by applicable law. The forward-looking statements and information contained herein are expressly qualified by this cautionary statement.

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SOURCE Orea Mining Corp.

National Kidney Foundation Applauds Landmark Immunosuppressive Drug Coverage Legislation Passed in the U.S. Senate

NEW YORK, Dec. 22, 2020 /PRNewswire/ — «Today the U.S. Senate passed landmark immunosuppressive drug legislation, which has the potential to save the lives of kidney transplant patients throughout our nation.

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NEW YORK, Dec. 22, 2020 /PRNewswire/ — «Today the U.S. Senate passed landmark immunosuppressive drug legislation, which has the potential to save the lives of kidney transplant patients throughout our nation.

«The National Kidney Foundation applauds Senator Bill Cassidy (R-LA) and Senator Richard Durbin (D-IL) for their leadership in passing legislation to extend Medicare coverage of immunosuppressive drugs for kidney transplant patients. The legislation represents a significant change which will greatly help save patients’ lives and taxpayers money.

«The National Kidney Foundation sincerely thanks our grassroots advocates who have been fighting alongside us in support of this critical legislation for years.

«Kidney transplant patients must take immunosuppressive drugs for the life of their transplant to help prevent organ rejection. Skipping even one dose will increase the chance of organ failure. But when the current 36-month Medicare coverage for this life-saving medication ends, patients are forced to make a choice between paying for their transplant medications or paying the rent, it’s a choice nobody should have to make.

«We are grateful to Congressmen Ron Kind (D-WI) and Michael Burgess (R-TX) who introduced similar legislation in the House earlier this year, and for their leadership in ensuring bi-partisan support for this critically important legislation. 

«The National Kidney Foundation sincerely thanks the Administration for their strong backing of this legislation that will greatly help our nation’s kidney transplant recipients.»

For a patient’s perspective on how a lack of Medicare coverage for immunosuppressive drugs affects a family see Bobbie’s story.

About Kidney Disease
In the United States, 37 million adults are estimated to have chronic kidney disease (CKD)—and approximately 90 percent don’t know they have it.  1 in 3 adults in the U.S. is at risk for chronic kidney disease.  Risk factors for kidney disease include: diabetes, high blood pressure, heart disease, obesity, and family history. People who are Black or African American, Hispanic or Latino, American Indian or Alaska Native, Asian American, or Native Hawaiian or Other Pacific Islander are at increased risk for developing the disease. Black or African American people are almost 4 times more likely than Whites to have kidney failure. Hispanic or Latino people are 1.3 times more likely than non-Hispanics or Latinos to have kidney failure.

Approximately 750,000 Americans have irreversible kidney failure and need dialysis or a kidney transplant to survive. More than 500,000 of these patients receive dialysis at least three times per week to replace kidney function. Nearly 100,000 Americans are on the waitlist for a kidney transplant right now.  Depending on where a patient lives, the average wait time for a kidney transplant can be upwards of three to seven years. Living organ donation not only saves lives, it saves money. Each year, Medicare spends approximately $89,000 per dialysis patient and less than half, $35,000, for a transplant patient.

About National Kidney Foundation Living Organ Donation Resources:
THE BIG ASK: THE BIG GIVE platform, which provides nationwide outreach, is designed to increase kidney transplantation through training and tools that help patients and families find a living donor. It includes direct patient and caregiver support through our toll-free help line 855-NKF-CARES, peer mentoring from a fellow kidney patient or a living donor, online communities, an advocacy campaign to remove barriers to donation, and a multi-media public awareness campaign. All resources are free and designed to teach kidney patients, or their advocates, how to make a «big ask» to their friends, loved ones, or community to consider making a «big give,» a living organ donation. www.kidney.org/livingdonation.

The National Kidney Foundation (NKF) is the largest, most comprehensive and longstanding organization dedicated to the awareness, prevention and treatment of kidney disease. For more information about NKF visit www.kidney.org.

Facebook.com 
Twitter: @NKF 
www.kidney.org  

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SOURCE National Kidney Foundation

BIRD Energy to invest $7.15 Million in Cooperative Israel-U.S. Clean Energy Projects

TEL AVIV, Israel, Dec. 22, 2020 /PRNewswire/ — The U.S. Department of Energy (DOE) and Israel’s Ministry of Energy (MoE) along with the Israel Innovation Authority have selected eight clean energy projects to receive $7.15 million under the Binational Industrial Research and Development (BIRD) Energy program. The total value of the projects is $17.4 million, which includes <span…

TEL AVIV, Israel, Dec. 22, 2020 /PRNewswire/ — The U.S. Department of Energy (DOE) and Israel’s Ministry of Energy (MoE) along with the Israel Innovation Authority have selected eight clean energy projects to receive $7.15 million under the Binational Industrial Research and Development (BIRD) Energy program. The total value of the projects is $17.4 million, which includes $10.25 million in cost share from the companies selected for funding.

BIRD Energy began in 2009 as a result of the Energy Independence and Security Act of 2007. Since then, including the projects announced today, BIRD Energy has funded fifty-five (55) projects with a total government investment of approximately $42 million in addition to approximately $55 million in funds matched by the private sector. 

Each project is conducted by a U.S. and an Israeli partner. Selected projects address energy challenges and opportunities that are of interest to both countries and focus on commercializing clean energy technologies that improve economic competitiveness, create jobs and support innovative technologies and companies.

U.S. Secretary of Energy, Dan Brouillette, said: «The BIRD Energy program fosters collaboration between U.S. and Israeli companies that has produced real innovations in renewable energy and energy efficiency. This partnership continues to build bilateral relationships that will benefit our economies and environment for years to come.»

Israel’s Minister of Energy, Dr. Yuval Steinitz, said: «I am proud of the successful collaboration between Israeli and US companies, which is based on mutual trust and ground breaking innovation in the energy market. I hope that these R&D projects will bring us closer to an efficient and clean energy market. Government investment in R&D is important to help reach these goals, and as a recovery tool from the Coronavirus crisis we are experiencing now.»

Mr. Aharon Aharon, CEO, Israel Innovation Authority, said: «Promoting innovation in the field of energy is a joint goal of Israel and the US. We are therefore pleased to see the high level of engagement by industries in both countries. We wish success to the approved projects and look forward to the technological advancements they will make.»

Dr. Eitan Yudilevich, Executive Director of the BIRD Foundation, said: «The BIRD Energy program is a magnet that attracts companies interested in joint U.S.-Israel innovation with each company playing a synergistic role aimed at achieving and commercializing technological breakthroughs. Despite the significant hurdles posed by COVID-19, companies succeeded in submitting high quality collaborative proposals.»

The eight approved projects are:

  • Addionics IL Ltd. (Tel Aviv, Israel) and Saint-Gobain Ceramics & Plastics, Inc. (Northboro, MA) will develop high-power, high-capacity solid-state batteries with novel electrode components.
  • ECOncrete Tech Ltd. (Tel Aviv, Israel) and LafargeHolcim (US) Inc.  (Chicago, IL) will develop an eco-engineered concrete product for structurally sound scour protection and ecological uplift of offshore wind energy infrastructure. 
  • Eviation Tech Ltd. (Kadima, Israel) and AVL Powertrain Engineering, Inc. (Plymouth, MI) will develop electric aircraft battery.
  • POCellTech Ltd. (Caesarea, Israel)) and W7energy LLC (Wilmington, DE) will develop a low-cost fuel cell system based on hydroxide exchange membranes.
  • StoreDot Ltd. (Herzliya, Israel) and Nanoramic Laboratories (Boston, MA) will develop an ultra-fast charging power bank for mobile devices.
  • Tadiran Batteries Ltd. (Kiryat Ekron, Israel) and Hit Nano Inc. (Bordentown, NJ) will develop silicon anode, nickel rich cathode, high-energy high-safety AA Li-Ion Cell for industrial internet of things applications (IOT).
  • TurboGen (Ramat Gan, Israel) and En-Power Group (White Plains, NY) will develop next generation, heat and power solutions.
  • VisIC Technologies Ltd. (Nes Ziona, Israel) and Vepco Technologies (Chino, CA) will develop an 80kW Gallium Nitride (GaN) based dual motor drive power inverter for both plug-in and battery electric vehicles.

Projects that qualify for BIRD Energy funding must include one U.S. and one Israeli company, or a company from one of the countries paired with a university or research institution from the other. The partners must present a project that involves innovation in the area of energy and is of mutual interest to both countries.  BIRD Energy has a rigorous review process and selects the most technologically meritorious projects along with those that are most likely to commercialize and bring about significant impact. Qualified projects must contribute at least 50% to project costs and commit to repayments if the project leads to commercial success.

About the BIRD Foundation (www.birdf.com)

The BIRD (Binational Industrial Research and Development) Foundation works to encourage and facilitate cooperation between U.S. and Israeli companies in a wide range of technology sectors and offers funding to selected projects. The BIRD Foundation supports projects without receiving any equity or intellectual property rights in the participating companies or in the projects, themselves. BIRD funding is repaid as royalties from sales of products that were commercialized as a result of BIRD support. The Foundation provides funding of up to 50% of a project’s budget, beginning with R&D and ending with the initial stages of sales and marketing. The Foundation shares the risk and does not require repayment if the project fails to reach the sales stage.

Contact:
Limor Nakar-Vincent
Deputy Executive Director
of Business Development & BIRD Energy
BIRD Foundation
Limorn@birdf.com
Tel: 972-3- 6988-315

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SOURCE The BIRD Foundation