Archive for July, 2017

$DGSE Announces Letter of Intent for Accretive Acquisition of Pawn Businesses

DGSE Companies, Inc. (NYSE MKT:DGSE) (“DGSE” or the “Company”), a leading wholesaler and retailer of jewelry, diamonds, fine watches, and precious metal bullion and rare coin products, today announced that it has entered into a non-binding Letter of Intent to acquire the equity interests in National Pawn, Inc. (“National”) and its related affiliates. No definitive agreement has been reached, and there can be no assurance that a definitive agreement will be reached. DGSE’s Board of Directors’ approval is required in order to enter into such definitive agreement.

If a definitive agreement is reached, this acquisition would be expected to close in the 3rd quarter of 2017. DGSE expects the acquisition to bring promising revenue and earnings accretion to shareholders going forward.

National and its affiliates have a 27-store footprint, including stores in Arizona, North Carolina, Oklahoma and Texas. National is based in Austin, Texas. It was founded in 1993 by its current CEO, Courtland (Corky) L. Logue, Jr. (“Logue”). Logue has a long history in founding and operating pawnshops, including EZPAWN and EZCORP (NASDAQ: EZPW).

“We continue to explore new opportunities and agreements with potential partners who are excited about being a part of DGSE’s future. We believe this positions DGSE to generate an attractive, total shareholder return over the long term,” stated John Loftus, DGSE’s President, Chairman and Chief Executive Officer.

Elemetal Recycling Update.

As announced on April 19, 2017, DGSE has also entered into a non-binding Letter of Intent to acquire certain tangible personal-property assets of Elemetal Recycling, LLC from Elemetal, LLC. This transaction is progressing well, with DGSE working to complete requisite due diligence, financing and a definitive agreement.

Profits and Retail-Operations Update.

DGSE expects to post a profit in the second quarter of 2017 and show continued operational improvement, though there is still much to be done to build the business to its full potential and maximize shareholder value. DGSE anticipates getting smarter with each customer interaction, educating its sales staff on customers’ preferred products.

DGSE anticipates divesting its wholesale division Fairchild International and associated website, www.fairchildwatches.com, in the near term. The Company seeks to streamline its operations, focusing its fine-watch marketing and business in the retail sector. This retail concentration also provides an opportunity to earn the loyalty of more customers, strengthen our market position, and contribute to a winning strategy for our business going forward.

DGSE wholesales and retails jewelry, diamonds, fine watches, and precious metal bullion and rare coin products through its Charleston Gold & Diamond Exchange and Dallas Gold & Silver Exchange operations. In addition to its retail facilities in South Carolina and Texas, the Company operates websites which can be accessed at www.dgse.com and www.cgdeinc.com. The Company is headquartered in Dallas, Texas, and its common stock trades on the NYSE MKT exchange under the symbol “DGSE.”

This press release includes statements that may constitute “forward-looking” statements, including statements regarding the potential acquisitions of National and Elemetal Recycling, and entering into definitive agreements regarding the potential acquisitions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, negotiations regarding a definitive agreement, market conditions, and other risks detailed in the Company’s periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release except as required by law.

 

DGSE Companies,Inc.
Bret Pedersen, 972-587-4024
bpedersen@dgse.com

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$MZOR Sees Growth Horizon, Received 19 System Orders During Q2 2017

Mazor Robotics Ltd. (TASE:MZOR; NASDAQGM:MZOR), a pioneer and a leader in the field of surgical guidance systems, expects to report record revenue of approximately $15.4 million for the second quarter ended June 30, 2017. In the year-ago second quarter, Mazor reported revenue of $8.3 million. During the second quarter of 2017, the Company received a total of 19 system purchase orders. Sixteen of the purchase orders were for the Mazor X™ system from customers in the U.S., including seven trade-in orders from customers who had previously purchased Renaissance® systems. In addition, the Company received purchase orders for three Renaissance systems, including two in the international market and one in the U.S. market.

“Our second quarter performance reflects the market’s enthusiasm for the Mazor X system and demand continues to grow,” commented Ori Hadomi, Chief Executive Officer. “The sales momentum and the successful execution of our growth strategies, supported by ongoing product innovation and the recent leadership additions and organizational steps, position Mazor for sustainable growth.”

Mazor’s system backlog at the end of the second quarter was 14 systems, similar to the first quarter ended March 31, 2017. The backlog was adjusted to reflect a Mazor X system that was ordered in a previous quarter and subsequently cancelled in the 2017 second quarter. The Company expects to deliver these systems in the second half of 2017. The Company intends to report its financial results for the second quarter ended June 30, 2017 on August 1, 2017 and will issue a press release with the specific time, dial-in credentials and webcast details.

About Mazor

Mazor Robotics (TASE: MZOR; NASDAQGM: MZOR) believes in healing through innovation by developing and introducing revolutionary technologies and products aimed at redefining the gold standard of quality care. Mazor Robotics Guidance Systems enable surgeons to conduct spine and brain procedures in an accurate and secure manner. For more information, please visit www.MazorRobotics.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Any statements in this release about future expectations, plans or prospects for the Company, including without limitation, statements regarding the Company’s expectations and growth opportunities for 2017, the expected revenue for the second quarter of 2017, the amount of and timing of recording of additional revenue from backlog, the timing of reporting of second quarter financial results, and other statements containing the words “believes,” “anticipates,” “plans,” “expects,” “will” and similar expressions are forward-looking statements. These statements are only predictions based on Mazor’s current expectations and projections about future events. There are important factors that could cause Mazor’s actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Those factors include, but are not limited to, the impact of general economic conditions, competitive products, product demand and market acceptance risks, reliance on key strategic alliances, fluctuations in operating results, and other factors indicated in Mazor’s filings with the Securities and Exchange Commission (SEC) including those discussed under the heading “Risk Factors” in Mazor’s annual report on Form 20-F filed with the SEC on May 1, 2017 and in subsequent filings with the SEC. For more details, refer to Mazor’s SEC filings. Mazor undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in our expectations, except as may be required by law.

 

U.S. Contacts:
EVC Group
Investors
Michael Polyviou, 212-850-6020
mpolyviou@evcgroup.com
or
Doug Sherk, 646-445-4800
dsherk@evcgroup.com
or
Media
Thomas Gibson, 201-476-0322
tom@tomgibsoncommunications.com

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$CORI to Present Clinical Results from Alzheimer’s Study of Once-weekly Corplex

MENLO PARK, Calif., July 06, 2017  — Corium International, Inc. (Nasdaq:CORI), a commercial-stage biopharmaceutical company focused on the development, manufacture and commercialization of specialty transdermal products, today announced that Parminder “Bobby” Singh, Ph.D., Corium’s Chief Technology Officer and Vice President, Research and Development, will present the clinical results from a bioequivalence (BE) study of Corium’s once-weekly Corplex Donepezil product candidate at the Alzheimer’s Association International Conference 2017 (AAIC) in London, UK, on July 18, 2017.

The pilot BE study was a six-month, three-period, randomized crossover study comparing the steady-state pharmacokinetic profiles of once-daily oral Aricept® with two Corplex Donepezil transdermal patches that differed only in size.  Preliminary results from this study were reported on May 11, 2017.

Corium is planning to start its pivotal BE study later this year and remains on track to file a Section 505(b)(2) New Drug Application (NDA) for the product candidate in 2018.  The pivotal study will be a simpler, two-way crossover design compared to the three-way crossover pilot study.

Poster Presentation Details:

Steady-State Clinical Pharmacokinetics Demonstrating Once-weekly Corplex Donepezil Transdermal System as a Therapeutic Alternative to Daily Oral Aricept

  • Tuesday, July 18, 2017, 9:30 AM-4:15 PM
  • Location: The ExCeL London, S8
  • Session: P3-01 Therapeutics: Clinical
  • Poster #16129

About Corium

Corium International, Inc. is a commercial-stage biopharmaceutical company focused on the development, manufacture and commercialization of specialty pharmaceutical products that leverage the company’s broad experience with advanced transdermal and transmucosal delivery systems.  Corium has multiple proprietary programs in preclinical and clinical development, focusing primarily on the treatment of neurological disorders, with lead programs in Alzheimer’s disease.  Corium has developed and is the sole commercial manufacturer of seven prescription drug and consumer products with partners Mayne Pharma and Procter & Gamble.  The company has two proprietary transdermal platforms: Corplex™ for small molecules and MicroCor®, a biodegradable microstructure technology for small molecules and biologics, including vaccines, peptides and proteins.  In addition to its proprietary Alzheimer’s program, the company’s late-stage pipeline includes a contraceptive patch co-developed with Agile Therapeutics and additional transdermal products that are being developed with other partners.  For further information, please visit www.coriumgroup.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding our proprietary products and product candidates.  Forward-looking statements are based on management’s current expectations and projections and are subject to risks and uncertainties, which may cause Corium’s actual results to differ materially from the statements contained herein.  Further information on potential risk factors that could affect Corium’s business and its results are detailed in Corium’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, filed with the Securities and Exchange Commission (SEC) on May 12, 2017, and other reports as filed from time to time with the SEC.  Undue reliance should not be placed on forward-looking statements, especially guidance on future financial or operating performance, which speaks only as of the date they are made.  Corium undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events.

Corplex™ and MicroCor® are registered trademarks of Corium International, Inc. Aricept® is a registered trademark of Eisai R&D Management Co., Ltd.

Source: Corium

Investor and Media Contact:
SMP Communications
Susan M. Pietropaolo
susan@smpcommunications.com
(201) 923-2049
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$QVCA $QVCB $LVNTA $LVNTB to Acquire $HSNI

Liberty Interactive Corporation (“Liberty Interactive”) (Nasdaq: QVCA, QVCB, LVNTA, LVNTB) and HSN, Inc. (“HSNi”) (Nasdaq: HSNI) today announced that they have entered into an agreement whereby Liberty Interactive will acquire the 62% of HSNi it does not already own in an all-stock transaction.

“We are excited to announce the acquisition of HSNi. The addition of HSN will enhance QVC’s position as the leading global video eCommerce retailer. Every year they together produce over 55,000 hours of shoppable video content and have strong positions on multiple linear channels and OTT platforms,” said Greg Maffei, Liberty Interactive President and CEO. “The value of the combined QVC, HSNi and zulily will be further highlighted when later this year QVC Group becomes an asset-backed stock as part of the previously announced split-off of Liberty Ventures.”

“We’re thrilled to welcome the HSNi team to our company. HSNi founded the industry forty years ago and helped it grow with exciting initiatives like Shop By Remote and media integrations with leading content producers. By creating the leader in discovery-based shopping, we will enhance the customer experience, accelerate innovation, leverage our resources and talents to further strengthen our brands, and redeploy savings for innovation and growth,” said Mike George, QVC President and CEO. “As the prominent global video commerce retailer and North America’s third largest mobile and eCommerce retailer, the combined company will be well-positioned to help shape the next generation of retailing.”

“Joining the QVC Group will give us instant access to global consumer markets, a leadership team with deep expertise and a global perspective, and the opportunity to further strengthen our content-based brand portfolios in a changing retail landscape,” said Arthur C. Martinez, HSNi’s Chairman of the Board of Directors. “We have both been innovators in a growing and dynamic retail environment with a unique vision of what shopping should be, and as new technologies continue to change our everyday lives, together we can develop the next generation of shopping for the next generation of consumers.”

Liberty Interactive believes the acquisition of HSNi will provide the following benefits:

  • Increase scale, enhancing the competitive position of QVC Group
    • Meaningful synergies through cost reduction and revenue growth opportunities
  • Increased development of eCommerce, mobile and OTT platforms
  • Optimize programming across five U.S. networks
  • Cross marketing to better engage existing and potential customers
  • Financial optionality due to HSNi’s lower debt leverage

HSNi consists of HSN, a leading interactive multichannel retailer, and Cornerstone, which is comprised of leading home and apparel lifestyle brands including Ballard Designs, Frontgate, Garnet Hill, Grandin Road and Improvements. Post-closing, HSNi headquarters will remain in St. Petersburg and will be overseen by Mike George.

Liberty Interactive currently owns 38.2% of HSNi and, under the definitive agreement will acquire the remaining 61.8% stake, making it a wholly-owned subsidiary, attributed to the QVC Group tracking stock. HSNi shareholders will receive fixed consideration of 1.65 shares of Series A QVC Group common stock for every share of HSNi common stock. Based on the Series A QVC Group common stock’s closing price as of July 5, 2017 and the number of HSNi undiluted shares outstanding as of May 1, 2017, this equates to a total enterprise value for HSNi of $2.6 billion, an equity value of $2.1 billion, and consideration of $40.36 per HSNi share, representing a premium of $9.06 per share or 29% to HSNi shareholders, based on HSNi’s closing price on July 5, 2017.

Liberty Interactive intends to issue 53.4 million shares of QVC Series A common stock to HSNi shareholders. Pro forma, QVC Group total undiluted share count will be 504.3 million, comprised of 474.9 million shares of Series A common stock and 29.4 million shares of Series B common stock, with former HSNi shareholders, excluding Liberty Interactive, to own 10.6% of QVC Group’s undiluted equity and 6.9% of the undiluted voting power, based on the number of shares outstanding as of April 30, 2017. Following the completion of the transaction, Liberty Interactive expects to continue its repurchases of QVC Group common stock.

The acquisition of HSNi is expected to be completed by the fourth quarter of 2017. The completion of the acquisition is subject to certain customary conditions, including (i) the receipt of requisite regulatory approvals, including approval from the Federal Communications Commission and the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and (ii) approval by a majority of the outstanding voting power of HSNi shareholders. A voting agreement has been obtained from Liberty Interactive to vote its HSNi shares in-favor of the transaction. Approval of the Liberty Interactive stockholders is not required, and is not being sought, for the HSNi acquisition. Upon closing, the Liberty Interactive Board of Directors will be expanded by one to include a director from the HSNi Board of Directors; this director will be selected by Liberty Interactive.

The previously announced transaction between Liberty Interactive and General Communication, Inc. (“GCI”) and subsequent split-off of Liberty Ventures is expected to close later in 2017. Simultaneous with that closing, QVC Group, including wholly-owned subsidiaries QVC, Inc., zulily and HSNi (or, if the HSNi acquisition has not yet closed, following such closing), will become an asset-backed stock and Liberty Interactive will be renamed QVC Group, Inc. Neither the GCI acquisition nor the HSNi acquisition is conditioned on the completion of the other, and no assurance can be given as to which of these transactions will be completed first.

Allen & Company is serving as financial advisor and Baker Botts LLP is serving as legal advisor to Liberty Interactive.

Centerview Partners and Goldman Sachs Group, Inc. are serving as financial advisors and Davis Polk & Wardwell LLP is serving as legal advisor to the Special Committee of the Board of Directors of HSNi.

Important Notice: Liberty Interactive (Nasdaq: QVCA, QVCB, LVNTA, LVNTB) President and CEO, Greg Maffei, QVC President, CEO Mike George and HSN, Inc. (Nasdaq: HSNI) Office of the CEO and CFO, Rod Little , will discuss this transaction in a conference call which will begin at 9:00 a.m. (E.D.T.) on July 6, 2017. The call can be accessed by dialing (888) 394-8218 or (323) 701-0225, with participant passcode 1505706 at least 10 minutes prior to the start time. An accompanying presentation will be posted to the Liberty Interactive website prior to the call. The call will also be broadcast live across the Internet and archived on our website. To access the webcast go to http://www.libertyinteractive.com/events. Links to this press release will also be available on Liberty Interactive’s website.

Forward-Looking Statements

This communication includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “may,” “will,” “could,” “anticipate,” “estimate,” “expect,” “predict,” “project,” “future,” “potential,” “intend,” “plan,” “assume,” “believe,” “forecast,” “look,” “build,” “focus,” “create,” “work” “continue” or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. These forward-looking statements include, but are not limited to, statements about the proposed acquisition (the “proposed acquisition”) of HSNi by Liberty Interactive, the timing of the proposed acquisition and Liberty Interactive’s proposed transaction involving General Communication, Inc. (“GCI” and the “proposed GCI transaction”), the capitalization of the QVC Group following the proposed acquisition, the continuation of Liberty Interactive’s stock repurchase program, the realization of estimated synergies and benefits from the proposed acquisition and the proposed GCI transaction, business strategies, market potential, future financial prospects, new service and product offerings, the renaming of Liberty Interactive and other matters that are not historical facts. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, the expected timing and likelihood of completion of the proposed acquisition and the proposed GCI transaction, including the timing and satisfaction of conditions to these transactions that could reduce anticipated benefits or cause the parties to abandon the respective transaction, the ability to successfully integrate the businesses, risks related to disruption of management time from ongoing business operations due to the proposed acquisition, the risk that any announcements relating to the proposed acquisition could have adverse effects on the market price of the common stock of HSNi or Liberty Interactive, the risk that the proposed acquisition and its announcement could have an adverse effect on the ability of HSNi and Liberty Interactive to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally, market conditions conducive to stock repurchases, the risk of the amount of any future dividend HSNi may pay, and other factors. These forward-looking statements speak only as of the date of this communication, and Liberty Interactive and HSNi expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in Liberty Interactive’s or HSNi’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Please refer to the publicly filed documents of Liberty Interactive and HSNi, including the most recent Forms 10-K and 10-Q for additional information about Liberty Interactive and HSNi and about the risks and uncertainties related to the business of each of Liberty Interactive and HSNi which may affect the statements made in this communication.

No Offer or Solicitation

This communication relates to a proposed business combination between HSNi and Liberty Interactive. This announcement is for informational purposes only and nothing contained in this communication shall constitute an offer to buy or a solicitation of an offer to sell any securities or the solicitation of any vote in any jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Additional Information

Liberty Interactive stockholders, HSNi stockholders and other investors are urged to read the registration statement and the proxy statement/prospectus to be filed regarding the proposed acquisition and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information about the proposed acquisition. Any definitive proxy statement(s) (if and when available) will be mailed to stockholders of HSNi. Copies of these SEC filings are available free of charge at the SEC’s website (http://www.sec.gov). Copies of the filings together with the materials incorporated by reference therein are also available, without charge, by directing a request to Liberty Interactive Corporation, 12300 Liberty Boulevard, Englewood, Colorado 80112, Attention: Investor Relations, Telephone: (720) 875-5420. Copies of documents filed with the SEC by HSNi will be made available free of charge on HSNi’s website at http://www.hsni.com or by contacting HSNi’s Investor Relations Department at HSN, Inc., 1 HSN Drive, St. Petersburg, Florida 33729, Attention Investor Relations, Telephone: (727) 872-1000, email: ir@hsn.net.

In addition, nothing in this communication shall constitute a solicitation to buy or an offer to sell shares of GCI Liberty, GCI common stock or any of Liberty Interactive’s tracking stocks. The offer and issuance of shares in the proposed GCI transaction will only be made pursuant to GCI’s effective registration statement. Liberty Interactive stockholders, GCI shareholders and other investors are urged to read the registration statement and the joint proxy statement/prospectus to be filed regarding the proposed GCI transaction and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information about the proposed GCI transaction. Copies of these SEC filings will be available free of charge at the SEC’s website (http://www.sec.gov). Copies of the filings together with the materials incorporated by reference therein will also be available, without charge, by directing a request to Liberty Interactive Corporation, 12300 Liberty Boulevard, Englewood, Colorado 80112, Attention: Investor Relations, Telephone: (720) 875-5420. GCI investors can access additional information at ir.gci.com.

Participants in a Solicitation

The directors and executive officers of HSNi and other persons may be deemed to be participants in the solicitation of proxies from the holders of HSNi common stock in respect of the proposed acquisition. Information regarding the directors and executive officers of HSNi is available in its definitive proxy statement for HSNi’s 2017 Annual Meeting of Stockholders, which was filed with the SEC on April 10, 2017, and in the other documents filed after the date thereof by HSNi with the SEC. Investors may obtain additional information regarding the interests of such participants by reading the proxy statement/prospectus regarding the proposed transaction when it becomes available. Free copies of these documents may be obtained as described in the preceding paragraph.

In addition, the directors and executive officers of Liberty Interactive and GCI and other persons may be deemed to be participants in the solicitation of proxies in respect of proposals to approve the proposed GCI transaction. Information regarding the directors and executive officers of Liberty Interactive is available in its definitive proxy statement, which was filed with the SEC on April 20, 2017, and certain of its Current Reports on Form 8-K. Information regarding the directors and executive officers of GCI is available as part of its Form 10-K filed with the SEC on March 2, 2017. For other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be available in the proxy materials regarding the foregoing to be filed with the SEC. Free copies of these documents may be obtained as described above.

About Liberty Interactive Corporation

Liberty Interactive Corporation operates and owns interests in a broad range of digital commerce businesses. Those businesses are currently attributed to two tracking stock groups: the QVC Group and the Liberty Ventures Group. The businesses and assets attributed to the QVC Group (Nasdaq: QVCA, QVCB) consist of Liberty Interactive Corporation’s subsidiaries, QVC, Inc. and zulily, llc, and its interest in HSNi, Inc., and the businesses and assets attributed to the Liberty Ventures Group (Nasdaq: LVNTA, LVNTB) consist of all of Liberty Interactive Corporation’s businesses and assets other than those attributed to the QVC Group, including its interests in Liberty Broadband Corporation and FTD, Liberty Interactive Corporation’s subsidiary Evite, and minority interests in ILG, Lending Tree and Charter Communications.

About HSN, Inc.

HSN, Inc. (Nasdaq: HSNI) is a $3.5 billion interactive multichannel retailer with strong direct-to-consumer expertise among its two operating segments, HSN and Cornerstone. HSNi offers innovative, differentiated retail experiences on TV, online, via mobile devices, in catalogs, and in brick and mortar stores. HSN, a leading interactive multichannel retailer which offers a curated assortment of exclusive products combined with top brand names, now reaches approximately 91 million homes ( with live programming 364 days a year). HSN.com offers a differentiated digital experience by leveraging content, community and commerce. In addition to its existing media platforms, HSN is the industry leader in transactional innovation, including services such as HSN Shop by Remote®, the only service of its kind in the U.S., the HSN Shopping App for mobile handheld devices and HSN on Demand®. Cornerstone comprises leading home and apparel lifestyle brands including Ballard Designs®, Frontgate®, Garnet Hill®, Grandin Road® and Improvements®. Cornerstone distributes approximately 300 million catalogs annually, operates five separate digital sales sites and operates 17 retail and outlet stores.

 

Liberty Interactive Corporation
Shane Kleinstein
720-875-5420
or
QVC, Inc.
Colleen Rooney (Media)
484-701-1761
colleen.rooney@qvc.com
or
HSN, Inc.
Art Singleton (Analysts/Investors)
727-872-4941
Art.singleton@hsn.net
or
Jill Kermes (Media)
727-872-4390
Jill.kermes@hsn.net

Thursday, July 6th, 2017 Uncategorized Comments Off on $QVCA $QVCB $LVNTA $LVNTB to Acquire $HSNI

$FRSX Proof of Concept of Its Multispectral Advanced Driver Assistance System

Foresight Autonomous Holdings Ltd., a leading developer of Advanced Driver Assistance Systems (TASE and NASDAQ:FRSX), announced today that following a number of field tests conducted with a prototype, it has successfully completed proof of concept of its multispectral road traffic accident prevention system, which features both thermal and visible light cameras. In light of the emerging market demand for such products and the successful proof of concept completion, the company has decided to continue the rapid development of the system, which will include advanced image processing algorithms, and the consolidation, control and cross-checking of all data received from the system cameras. Foresight estimates that it will be able to complete development of a real-time demonstration within three months.

The new system is designed to provide multispectral vision capabilities, by combining four cameras operating at varying wavelengths (beyond human vision capabilities), thereby presenting a comprehensive solution for the front of the vehicle, which will detect all obstacles under any weather and lighting conditions, including complete darkness, smoke, haze, fog, rain and glare. Currently, the company is unaware of any other commercially available systems with these capabilities.

About Foresight

Foresight (TASE and NASDAQ: FRSX), founded in 2015 is a technology company engaged in the design, development and commercialization of Advanced Driver Assistance Systems (ADAS) based on 3D video analysis, advanced algorithms for image processing and artificial intelligence. The company, through its subsidiary, develops advanced systems for accident prevention, which are designed to provide real-time information about the vehicle’s surroundings while in motion. The systems are designed to alert drivers to threats that might cause accidents, resulting from traffic violations, driver fatigue or lack of concentration, etc., and to enable highly accurate and reliable threat detection while ensuring the lowest rates of false alerts. The company estimates that its systems will revolutionize ADAS by providing an automotive grade, cost-effective platform, and advanced technology.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, when Foresight describes emerging market demand for accident prevention systems, and that it will be able to complete development of a real-time demonstration of the multispectral Advanced Driver Assistance System within three months, it is using forward-looking statements. Because such statements deal with future events and are based on Foresight’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Foresight could differ materially from those described in or implied by the statements in this press release.

The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Foresight’s registration statement on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on June 1, 2017, and in any subsequent filings with the SEC. Except as otherwise required by law, Foresight undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

 

INVESTOR RELATIONS:
MS-IR LLC
Miri Segal-Scharia, 917-607-8654
CEO
msegal@ms-ir.com

Wednesday, July 5th, 2017 Uncategorized Comments Off on $FRSX Proof of Concept of Its Multispectral Advanced Driver Assistance System

$CLSN Completion of OVATION Study

  • 86% Objective Response Rate (ORR) in Phase IB Dose Escalating Study
  • 100% ORR and 100% R0 (Margin Negative) Surgical Resection Rate at Highest Dose Cohort
  • Increased Ratio of CD8+ Cells to Immunosuppressive T-cells Observed in 75% of Patients Indicating a Shift to a Pro-Immune Stimulatory Environment

LAWRENCEVILLE, N.J., July 05, 2017 — Celsion Corporation (NASDAQ:CLSN) today provided an update on its Phase Ib dose escalating clinical trial (the OVATION Study) combining GEN-1, the Company’s IL-12 gene-mediated immunotherapy, with neoadjuvant chemotherapy for the treatment of newly-diagnosed patients with Stage III and IV ovarian cancer followed by interval debulking surgery.

Enrollment Complete in the OVATION Study.  The last patient in the 4th dose cohort has completed their GEN-1 treatment which allows for a safety evaluation by the Company’s Data Safety Monitoring Board (DSMB) in mid-July.  The Company recently announced the latest clinical findings from the OVATION Study in a poster presentation at the American Society of Clinical Oncology (ASCO) 2017 Annual Meeting. The presentation summarized clinical findings and translational data from all fourteen patients treated in the trial to-date.

  • Of the fourteen patients treated to date, two (2) patients demonstrated a complete response, ten (10) patients demonstrated a partial response and two (2) patients demonstrated stable disease, as measured by RECIST criteria. This translates to a 100% disease control rate (DCR) and an 86% objective response rate (ORR).
  • Of the five patients treated in the highest dose cohort, there was a 100% objective response rate with one (1) complete response and four (4) partial responses.
  • Fourteen patients had successful resections of their tumors, with nine (9) patients (64%) having an R0 resection, which indicates a margin-negative resection in which no gross or microscopic tumor remains in the tumor bed.
  • Of the five patients treated at the highest dose cohort, all five patients (100%) experienced a R0 surgical resection.

“We have seen promising clinical findings including objective responses (CR and PR) in all patients at the highest dose cohort along with an 87.5% rate of R0 (margin-negative) resections in the two highest dose cohorts and a 100% rate of R0 resections in the highest dose cohort at time of debulking surgery.  Additionally, translational research data presented at ASCO demonstrates that GEN-1 is biologically active, producing beneficial cytokines and positively impacting T-cell population in the tumor,” said Dr. Nicolas Borys, Celsion’s senior vice president and chief medical officer. “We believe that GEN-1 may be stimulating the immune system to improve tumor control in these patients. We are currently evaluating the most cost-effective development program to continue our clinical evaluation of GEN-1 in subsequent ovarian cancer studies.”

Final translational research data for all patients on the study is being collected and will be available in the third quarter for evaluation by the Company’s Scientific Advisory Committee and leading experts from Roswell Park, Vanderbilt University, Washington University School of Medicine in St. Louis, University of Alabama, Medical College of Wisconsin and the University of Oklahoma. Previously reported preliminary translational research findings from the first four patient cohorts are summarized below:

  • The analysis of peritoneal fluid and blood samples collected immediately before and 24 hours after IP administration of multiple doses of GEN-1 (36, 47, 61, 79 mg/m²) and standard NACT (carboplatin every 21 days and Taxol weekly) shows clear evidence of IL-12 gene transfer by significant dose dependent increases in IL-12 levels and significant increases in IFN-gamma and decreases in VEGF levels.
  • The treatment-related changes in immune activating cytokines and pro-tumor VEGF levels followed a dose-dependent trend and were predominantly in the peritoneal fluid compartment with little to no changes observed in the patients’ systemic circulation.
  • The immuno-histochemical (IHC) analysis of tumor tissue collected before treatment (laparoscopy) and at debulking surgery after completion of eight GEN-1 weekly treatments showed increased infiltration of CD3+, CD4+ CD8+ T-cells into tumor tissue of several patients.  The most pronounced effects observed in the IHC analysis were decreases in the density of immunosuppressive T-cell signals (FoxP3, PD-1, PDL-1, IDO-1) in the tumor microenvironment.  The ratio of CD8+ cells to immunosuppressive cells was increased in approximately 75% of patients suggesting an overall shift in the immune environment to pro-immune stimulatory following treatment with GEN-1.  An increase in CD8+ to immunosuppressive T-cell populations is believed to be a good predictor of better overall survival.

“These translational research findings demonstrate that GEN-1 in ovarian cancer patients is biologically active and creates an immuno-stimulatory cytokine milieu in the peritoneal cavity in a dose-dependent manner and promotes a pro-immune T-cell population dynamic in the tumor micro-environment,” said Dr. Khursheed Anwer, Celsion’s executive vice president and chief science officer.  “These distinct immunological changes in local disease environment appear to translate into clinical benefit and warrant the continued development of our GEN-1 IL-12 immunotherapy as a potential adjuvant, in both first and second-line ovarian cancer.”

Progression Free Survival Update.  Of the seven patients who have received GEN-1 treatment over one year ago and are being followed, only one patient’s cancer has progressed after 11.7 months.  This compares favorably to the historical median progression free survival (PFS) of 12 months for newly-diagnosed patients with Stage III and IV ovarian cancer who undergo neoadjuvant chemotherapy followed by interval debulking surgery¹.  Of the remaining six patients who have been on the study for over one year, their average PFS is 15 months with the longest progression-free patient at 21 months.  None of the patients in the third or fourth dose cohorts have progressed to date.

“This progression-free survival trend adds to the impressive clinical findings seen across a number of meaningful measures used to assess ovarian cancer like an overall 86% objective tumor response rate and a greater than 60% R0 (margin-negative) surgical resection rate,” said Michael H. Tardugno, Celsion’s chairman, president and chief executive officer. “The consistency and robust nature of the data across all four cohorts and the encouraging clinical responses underscore the potential of GEN-1 to serve as an effective, safe IL-12 immunotherapy in ovarian cancer.”

Manufacturing Technology Transfer for GEN-1.  In order to support the future clinical development and global market strategy of GEN-1 in ovarian cancer, the Company initiated a Technology Transfer, Manufacturing and Commercial Supply Agreement (the “GEN-1 Agreement”) with a premier, global API manufacturer, Zhejiang Hisun Pharmaceutical Co. Ltd. (Hisun), in the second half of 2016.  Hisun and Celsion have completed several important technology transfer activities relating to the manufacture of GEN-1, including studies required by CFDA for site approval. The GEN-1 Agreement was initiated to pursue an expanded partnership for the technology transfer relating to the clinical and commercial manufacture and supply of GEN-1 for the greater China territory, with the option to expand into other countries in the rest of the world after all necessary regulatory approvals are in effect. The GEN-1 Agreement will help to support supply for both ongoing and planned clinical studies.

Key provisions of the GEN-1 Agreement are as follows:

  • The GEN-1 Agreement has targeted unit costs for clinical supplies of GEN-1 that are substantially competitive with the Company’s current suppliers.
  • Once approved, the cost structure for GEN-1 will support rapid market adoption and significant gross margins across global markets.

This strategy provides the Company with a high quality, affordable, cost effective supply for all global markets.

Publication Accepted.  The Company also reported that the manuscript for a previously completed trial conducted by the Gynecologic Oncology Group in recurrent ovarian cancer using Doxil® and GEN-1 has been accepted for publication in Gynecologic Oncology.  The manuscript describes positive clinical results from this study as summarized below:

  • This study enrolled 16 patients with platinum-resistant ovarian cancer and evaluated the safety, tolerability, biological activity and efficacy of weekly intraperitoneal GEN-1 administered in combination with Doxil®. Patients received Doxil® on day 1 and GEN-1 on days 1, 8, 15 and 22.  Cycles were repeated every 28 days until unacceptable toxicity or disease progression.
  • GEN-1 was well tolerated, with no dose limiting toxicities and no overlapping toxicities between GEN-1 and Doxil®.
  • The clinical findings demonstrated an overall clinical benefit of 57% for all treatment arms, with a partial response (PR) rate of 21% and a stable disease (SD) rate of 36%. The overall clinical benefit observed at the highest dose cohort in this difficult-to-treat patient population was 86%.

Recurrent, platinum resistant ovarian cancer patients have a poor prognosis. With these data along with other published, pre-clinical data, the Company considers this group to be a promising future population for a study of GEN-1 in combination with Avastin® and Doxil®.

About Celsion Corporation

Celsion is a fully-integrated oncology company focused on developing a portfolio of innovative cancer treatments, including directed chemotherapies, immunotherapies and RNA- or DNA-based therapies. The Company’s lead program is ThermoDox®, a proprietary heat-activated liposomal encapsulation of doxorubicin, currently in Phase III development for the treatment of primary liver cancer and in Phase II development for the treatment of recurrent chest wall breast cancer.  The pipeline also includes GEN-1, a DNA-based immunotherapy for the localized treatment of ovarian and brain cancers.  Celsion has two platform technologies for the development of novel nucleic acid-based immunotherapies and other anti-cancer DNA or RNA therapies.  For more information on Celsion, visit our website: http://www.celsion.com. (CLSN-G1 CLSN-OV)

Celsion wishes to inform readers that forward-looking statements in this release are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995.  Readers are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, unforeseen changes in the course of research and development activities and in clinical trials; the uncertainties of and difficulties in analyzing interim clinical data, particularly in small subgroups that are not statistically significant; FDA and regulatory uncertainties and risks; the significant expense, time, and risk of failure of conducting clinical trials; the need for Celsion to evaluate its future development plans; possible acquisitions or licenses of other technologies, assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Celsion’s periodic reports and prospectuses filed with the Securities and Exchange Commission.  Celsion assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.

¹ Wright AA, Bohlke K, Armstrong DK, et al: Neoadjuvant Chemotherapy for Newly Diagnosed, Advanced Ovarian Cancer: Society of Gynecologic Oncology and American Society of Clinical Oncology Clinical Practice Guideline.  J Clin Oncol 34, 2016.

Celsion Investor Contact

Jeffrey W. Church
Sr. Vice President and CFO
609-482-2455
jchurch@celsion.com
Wednesday, July 5th, 2017 Uncategorized Comments Off on $CLSN Completion of OVATION Study

$CERU Distributes Letter to Cerulean Stockholders

Cerulean Pharma Inc. (NASDAQ:CERU) and Daré Bioscience, Inc. today announced that Daré Founder and CEO Sabrina Martucci Johnson mailed the following letter to Cerulean stockholders of record at the close of business on June 9, 2017 outlining the Daré value proposition and requesting they vote FOR all of the management proposals at the upcoming special meeting of stockholders to be held on July 19, 2017:

Dear Cerulean Stockholder,

As the founder and CEO of Daré Bioscience, Inc. (“Daré”), I am excited by the prospect of Daré combining with Cerulean Pharma Inc. (“Cerulean”). Daré is a healthcare company committed to the development and commercialization of innovative products in women’s health. We believe a segment of this market is underserved, which gives us an opportunity to create value for stockholders.

The problem isn’t a lack of early innovation. The global donor community of foundations and governments has invested in early research to expand options, improve outcomes and advance global women’s health. Yet, promising candidates often fail to advance.

The problem isn’t commercialization. Pharmaceutical companies with established sales and marketing franchises in women’s health exist; however, many of these companies prefer to get involved in later stages of development, e.g., in pivotal trials or following an application for regulatory approval.

The problem is the gap in mid-stage development. We believe there is a gap between early innovation and commercialization in women’s health that creates an opportunity for Daré.

Our business model is to fill the gap. We intend to license the rights to novel product candidates (some of which have existing clinical data), advance their clinical development and, if successful, create a comprehensive global commercialization strategy in combination with established pharmaceutical partners.

Our product candidate, Ovaprene®, illustrates our business model. We intend to continue the clinical development of Ovaprene, which has completed a pilot postcoital test clinical trial with results published in the Journal of Reproductive Medicine in 2009. If the Cerulean stockholders approve the transactions proposed in the definitive proxy statement, Daré intends to commence a PCT clinical trial of Ovaprene® with CONRAD, a non-profit organization that oversaw the successful development and FDA approval of the Caya® diaphragm, the most recently approved barrier contraceptive device in combination with a locally-acting spermiostatic agent.

In connection with the proposed combination of Daré and Cerulean, Cerulean has filed with the SEC a definitive proxy statement that describes the combination in detail. Stockholders may obtain a copy of the definitive proxy statement without charge at the SEC’s website (http://www.sec.gov) or from Cerulean’s proxy solicitor. Before making any voting decision, I urge you to read the definitive proxy statement filed with the SEC June 19, 2017 and any other documents that may be filed with the SEC regarding the special meeting and the proposed transactions in their entirety because they contain or will contain important information about the proposed transaction, the combined business and Ovaprene. In addition, you are strongly encouraged to read the description of the transaction with Novartis starting on page 102 of the definitive proxy statement, as the cash from the sale of those assets will be an important source of funding for the operations of the combined company.

If Cerulean stockholders approve the transactions in the proxy, the management of Daré looks forward to having the opportunity to work on your behalf.

If you have any questions regarding the proposed transactions, or to obtain a copy of the definitive proxy statement free of charge, please contact Cerulean’s proxy solicitor, Morrow Sodali, at 1-800-662-5200.

Sincerely,

Sabrina Martucci Johnson
Founder and CEO
Daré Bioscience, Inc.

The Cerulean Board unanimously recommends stockholders vote “FOR” all of the following proposals to be considered at the special meeting:

  • To approve the sale of Cerulean’s Dynamic Tumor Targeting™ Platform technology pursuant to the terms of the Novartis Asset Purchase Agreement;
  • To approve the issuance of shares of Cerulean common stock pursuant to the terms of the Daré Stock Purchase Agreement;
  • To approve and adopt an amendment to Cerulean’s Restated Certificate of Incorporation to effect a reverse stock split of Cerulean common stock, at a ratio ranging from 1-for-10 to 1-for-20, as determined by the Cerulean Board; and,
  • To adjourn the special meeting to solicit additional votes to approve the Novartis Asset Sale Proposal, the Daré Share Issuance Proposal or the Reverse Stock Split Proposal, if necessary.

The full agenda for the special meeting is detailed in Cerulean’s definitive proxy statement, which has been filed with the Securities and Exchange Commission and mailed to all Cerulean stockholders of record as of June 9, 2017, the record date for the special meeting of Cerulean’s stockholders to approve the above proposals. Before making any voting decision, Cerulean stockholders are urged to read the definitive proxy statement and any other documents that may be filed with the Securities and Exchange Commission regarding the special meeting in their entirety because they contain or will contain important information about the above proposals.

How to Vote

If you are a stockholder of record, you can vote your shares in one of two ways: either by proxy or in person at the special meeting. If you chose to submit a proxy, you may do so by telephone, via the internet or by mail. If you hold shares of Cerulean common stock in multiple accounts, you should vote your shares as described in each set of proxy materials you receive. Cerulean recommends stockholders vote electronically or by phone. Please have your proxy card with you while voting.

You may transmit your proxy voting instructions via the Internet by accessing www.proxyvote.com and following the instructions. You may also transmit your proxy voting instructions by calling the telephone number specified on the proxy card. If you chose to vote via the Internet or phone, you do not have to return the proxy card.

For stockholders who still need assistance voting their shares, or have questions regarding the special meeting, please contact Cerulean’s proxy solicitation firm, Morrow Sodali, LLC either by telephone: (800) 662-5200 or email: cerulean.info@morrowsodali.com.

About Cerulean Pharma

Cerulean is a company previously focused on applying the Dynamic Tumor Targeting™ Platform to create nanoparticle-drug conjugates (NDCs) designed to selectively attack tumor cells, reduce toxicity by sparing the body’s normal cells, and enable therapeutic combinations.

For more information on the company, please visit www.ceruleanrx.com.

About Daré Bioscience

Daré Bioscience is a healthcare company committed to the development and commercialization of innovative products in women’s reproductive health. Daré believes there is an unmet need in the United States, in other developed countries, and in developing countries, for innovative product candidates that expand options, improve outcomes and are easy to use. Product development in women’s reproductive health is fragmented creating a potential opportunity for Daré. Daré’s goal is to fill the gap by taking products from innovation through development and believes its management team is well-suited to ensure Daré’s current and potential future product candidates and products advance and one day become commercially available. Daré’s founders, including its executive management team, bring experience in global women’s healthcare as well as success in prior ventures in funding, achieving regulatory approvals, partnering, and launching a number of products, including devices, therapeutics and diagnostics.

For more information on Daré, please visit www.darebioscience.com

Cautionary Note on Forward Looking Statements

This press release contains “forward-looking statements” regarding matters that are not historical facts, including statements relating to the expected timing and consummation of the transaction between Cerulean and Novartis and between Cerulean, Daré, and the stockholders of Daré, approval of the Novartis Transaction and Daré Transaction by Cerulean’s stockholders, the ability of the parties to satisfy other closing conditions of the proposed transactions, Daré’s expectations regarding the timing and availability of results from its clinical trials, the timing of commencement of manufacturing its products, and the safety and effectiveness of its products. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “hypothesize,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “would,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: whether Cerulean’s cash resources will be sufficient to fund the operations of Daré it will undertake following the closing; the uncertainties inherent in the initiation and completion of clinical trials; availability and timing of data from ongoing and future clinical trials and the results of such trials; whether preliminary results from a clinical trial will be predictive of the final results of that trial or whether results of early clinical trials will be indicative of the results of later clinical trials; whether the company will maintain its NASDAQ listing, expectations for regulatory approvals; and other factors discussed in the “Risk Factors” section of Cerulean’s Quarterly Report on Form 10-Q filed with the SEC on May 12, 2017, and in other filings that Cerulean makes with the SEC. In addition, any forward-looking statements included in this press release represent our views only as of the date of this release and should not be relied upon as representing our views as of any subsequent date. Cerulean specifically disclaims any obligation to update any forward-looking statements included in this press release.

 

For Cerulean Pharma Inc.
Morrow Sodali, 203-658-9400
Cerulean.info@morrowsodali.com
or
For Daré Bioscience, Inc.
Sabrina Martucci Johnson, 858-769-9145
innovations@darebioscience.com

Wednesday, July 5th, 2017 Uncategorized Comments Off on $CERU Distributes Letter to Cerulean Stockholders

$DCIX Agrees to Pay US$85.0 Million in Full and Final Settlement

ATHENS, Greece, July 05, 2017 — Diana Containerships Inc. (NASDAQ:DCIX), (the “Company”), a global shipping company specializing in the ownership of containerships, today announced that it has paid an aggregate of US$85.0 million for full and final settlement of its US$148.0 million secured loan facility with The Royal Bank of Scotland plc (“RBS”), entered into on September 10, 2015, which had an outstanding balance of US$128.9 million as of June 30, 2017.

The Company funded the refinancing of the RBS loan with aggregate proceeds of US$75.0 million under two new secured loan facilities with Addiewell Ltd., an unaffiliated third party, in the amount of US$35.0 million, and with Diana Shipping Inc. in the amount of US$40.0 million, together with available cash on hand of US$10.0 million.

The Company has refinanced its existing unsecured loan facility with Diana Shipping Inc., entered into on May 20, 2013, having an outstanding balance of US$42.6 million as of June 30, 2017. The principal amount of the new secured loan of US$82.6 million with Diana Shipping Inc. includes the existing loan and the new loan used to refinance the Company’s RBS loan.

The new loans, which are secured by first and second priority mortgages over the Company’s eleven containerships, each mature in eighteen (18) months and bear interest at the rate of 6% per annum for the first twelve (12) months scaled to 9% for the next three (3) months and further scaled to 12% for the remaining three (3) months of the loans. Additionally, there is a discount premium amount of US$10.0 million and US$5.0 million for the loans with Addiewell Ltd. and Diana Shipping Inc., respectively. The new loan facilities include financial and other covenants which stipulate the repayment of these facilities with proceeds from the sale of assets of the Company, proceeds from the issuance of new equity and proceeds from the exercise of existing warrants to purchase the Company’s Series B Convertible Preferred Shares.

Mr. Symeon Palios, Director, Chief Executive Officer and Chairman of the Board, commented that:

“We are very pleased with the full and final settlement of the RBS Loan which adds a substantial amount of equity value to the Company’s shareholders. In addition, the new loans will provide the Company the flexibility to take advantage of the improving market conditions of the containership segment, as well as to use alternative ways to reduce the leverage on its balance sheet.”

Diana Containerships Inc.’s fleet consists of 11 container vessels (6 Post-Panamax and 5 Panamax). A table describing the current Diana Containerships Inc. fleet can be found on the Company’s website, www.dcontainerships.com. Information included on the Company’s website does not constitute a part of this press release.

About the Company

Diana Containerships Inc. is a global provider of shipping transportation services through its ownership of containerships. The Company’s vessels are employed primarily on time charters with leading liner companies carrying containerized cargo along worldwide shipping routes.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for containership capacity, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.

Corporate Contact:
Ioannis Zafirakis
Director, Chief Operating Officer and Secretary
Telephone: +30-216-600-2400
Email: izafirakis@dcontainerships.com
Website: www.dcontainerships.com

Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Telephone: + 1-203-972-8350
Email: enebb@optonline.net
Wednesday, July 5th, 2017 Uncategorized Comments Off on $DCIX Agrees to Pay US$85.0 Million in Full and Final Settlement

$MKGI Expands Vacation Rental Inventory to Approximately 1.4 Million Instantly-Bookable Properties

WESTON, FL–(Jul 5, 2017) – Monaker Group (OTCQB: MKGI) has expanded the total number of instantly-bookable vacation rental properties available through its Monaker Booking Engine (MBE) to approximately 1.4 million units. The new properties are available today via NextTrip, the industry’s first travel service to offer all ALR properties as instantly bookable.

NextTrip is powered by the MBE, a new cloud-based technology platform that delivers ALR reservations that can be instantly confirmed. MBE delivers Monaker’s global ALR inventory via a flexible application program interface (API), which also supports the distribution of Monaker’s ALR products to B2B travel industry partners.

The newly available Alternative Lodging Rental (ALR) units are located primarily in Europe, which represents Monaker’s largest ALR market. They also include a number of new properties across North America and the first properties in Cuba. The type of new ALR properties are consistent with the existing inventory of private vacation homes, villas, chalets, apartments, condos and castles. Monaker continues to expand its ALR inventory as it works to complete the integrations of an additional 800,000 properties secured under contract.

“The addition of these new properties demonstrates that our MBE represents one of the most diverse and accessible ALR instant booking platforms for the travel industry with inventory of approximately 1.4 million unique units,” said Monaker CEO Bill Kerby. “Since the introduction of our proprietary booking engine last year, we’ve received growing interest by both product suppliers and potential distribution partners. This interest has been buoyed by strengthening consumer demand for instantly-bookable ALRs.”

“It’s important to note that not just a portion, but all of our properties are instantly bookable,” added Kerby. “Travelers today expect to book flights, car rentals and tour packages with an easy ‘point and click,’ and without any hassles or delays. Our MBE technology supports a special relationship to our properties, providing travelers complete assurance that their reservation has been set at the moment of click — no more waiting hours or days for a response from the property owner.”

Monaker has also completed integrations with certain key supply-side channel partners, which opens access to additional instantly-bookable resort residences. Resort residences typically offer comfortable residential style 1-4 bedroom units, with kitchens, living rooms, home furnishings and full access to resort amenities. These additional properties will become available later this year.

Given the long-standing industry need for instant booking ALR reservations, several leading travel service wholesalers, retailers and travel agency groups are currently working to integrate our MBE technology with their vacation and travel package distribution channels.

“We continue to work towards completing our distribution side integration with a major industry partner,” added Kerby. “We are also adding key enhancements to our NextTrip site, including an advanced small business travel platform, a travel agent section, and specialized artificial intelligence that will enable easier planning for business, groups and family travel.

Monaker is looking to take advantage of the growing demand for alternative lodging and the strong growth in digital travel sales. The ALR industry is expected to grow at more than 7% CAGR to $194 billion in 2021, according to Technavio, making it one of the fastest growing sectors of the travel industry. Meanwhile, worldwide digital travel sales will climb at a 9.7% CAGR to top $817 billion by 2020, says eMarketer.

The latest releases of the NextTrip mobile app for iOS and Android are available for download today.

About Monaker

Monaker Group is a technology-driven travel company focused on delivering innovation to alternative lodging rentals (ALR) market. The Monaker Booking Engine (MBE) delivers instant booking of more than 1.5 million vacation rental homes, villas, chalets, apartments, condos, resort residences and castles. MBE offers travel distributors and agencies an industry-first: a customizable instant booking platform for ALR. Monaker’s NextTrip.com B2C website, powered by the MBE, is the first to offer significant instantly-bookable ALR products along with mainstream travel products and services, all on a single site. NextTrip also features rich content, imagery and high-quality video to enhance a traveler’s booking experience and assist in the search, decision and buying process for both individuals and groups. For more information, visit www.monakergroup.com or www.nexttrip.com.

Important Cautions Regarding Forward Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties concerning the plans and expectations of Monaker Group. These statements are only predictions and actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, some of which are out of our control. The potential risks and uncertainties include, among others, or the expectations of future growth may not be realized. These forward-looking statements are made only as of the date hereof, and Monaker Group undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. All forward looking statements are expressly qualified in their entirety by the “Risk Factors” and other cautionary statements included in Monaker Group’s annual, quarterly and special reports, proxy statements and other public filings with the Securities and Exchange Commission (“SEC”), including, but not limited to, the Company’s Annual Report on Form 10-K for the period ended February 28, 2017 which has been filed with the SEC and is available at www.sec.gov.

Company Contact
Richard Marshall
Director of Corporate Development
Monaker Group
Tel: (954) 888-9779
rmarshall@monakergroup.com

Investor Relations Contact
Ronald Both or Grant Stude
CMA
Tel (949) 432-7557
rb@cma.bz

Wednesday, July 5th, 2017 Uncategorized Comments Off on $MKGI Expands Vacation Rental Inventory to Approximately 1.4 Million Instantly-Bookable Properties