Klondex Reports Fourth Quarter and Full Year 2016 Results; Achieves Record Quarterly and Annual Revenue

 
  
  
  
 
 Gold EquivalentOunces Produced(1)
 Production Cash Costs per Gold Equivalent Ounce Sold(1)
 Capital Expenditures (thousands)
2017 full year outlook
 Low
 High
 Low
 High
 Low
 High
Midas
  42,000
  45,000
 $925
 $950
 $11,000
 $12,000
Midas Mill
  –
  –
  –
  –
  4,000
  5,000
Fire Creek
  97,000
  100,000
  475
  500
  27,000
  29,000
Hollister(2)
  30,000
  35,000
  935
  960
  –
  –
 Nevada Total
  169,000
  180,000
  670
  700
  42,000
  46,000
True North(3)
  41,000
  45,000
  725
  750
  15,000
  16,000
 
  210,000
  225,000
 $680
 $710
 $57,000
 $62,000
 
   
   
   
   
   
   
 
  Low
  High
   
   
   
   
Corporate general and administrative (thousands)
 $15,000
 $17,000
   
   
   
   
Hollister development and project costs (thousands)
 $7,000
 $9,000
   
   
   
   
Regional exploration (thousands)
 $3,000
 $5,000
   
   
   
   
All-in costs per gold ounce sold(1) $1,070 $1,130            
(1) This is a non-GAAP measure; refer to the Non-GAAP Performance Measures section of this Press Release for additional detail.
(2) Hollister is an exploration stage mineral property and as such, production refers to the estimated quantities resulting from the process of extracting mineralized materials from the earth and treating that material in a mill.
(3) Based on an estimated CDN:US dollar exchange rate of 0.75:1.
 Klondex has not reconciled forward-looking 2017 full year non-GAAP performance measures contained in this press release to their most directly comparable GAAP measures, as permitted by Item 10(e)(1)(i)(B) of Regulation S-K. Such reconciliations would require unreasonable efforts at this time to estimate and quantify with a reasonable degree of certainty various necessary GAAP components, including for example those related to future production costs, realized sales prices and the timing of such sales, timing and amounts of capital expenditures, metal recoveries, and corporate general and administrative amounts and timing, or others that may arise during the year. These components and other factors could materially impact the amount of the future directly comparable GAAP measures, which may differ significantly from their non-GAAP counterparts.
Consolidated Financial Results of Operations
 
  
   
 
 
 Three months endedDecember 31,2016
  Year endedDecember 31,2016
 
Revenues
 $56,100
  $198,175
 
Cost of sales
   
    
 
 Production costs
  35,708
   106,389
 
 Depreciation and depletion
  9,128
   28,242
 
 Write-down of production inventories
  2,869
   2,869
 
 
  8,395
   60,675
 
Other operating expenses
   
    
 
 General and administrative
  4,368
   15,804
 
 Exploration
  4,502
   12,765
 
 Development and projects costs
  3,423
   8,953
 
 Asset retirement and accretion
  1,898
   2,653
 
 Business acquisition costs
  383
   2,253
 
 Provision for legal settlement
  751
   3,000
 
 Loss on equipment disposal
  17
   126
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Income from operations
  (6,947
)  15,121
 
Other income (expense)
   
    
 
 (Loss) gain on derivatives, net
  7,932
   (7,646
)
 Interest expense, net
  (1,390
)  (5,339
)
 Foreign currency gain, net
  2,873
   651
 
 Loss on debt extinguishment
  (519
)  (519
)
 Interest income and other, net
  (301
)  (244
)
Income before tax
  1,648
   2,024
 
 Income tax (expense)/benefit
  530
   (3,724
)
Net (loss) income
 $2,178
  $(1,700
)
 
   
    
 
Net (loss) income per share
   
    
 
 Basic
 $0.02
  $(0.01
)          Fourth quarter 2016
Fourth quarter Revenues reflect a quarterly high in terms of ounces sold, primarily due to higher tons mined at Fire Creek and Midas and commencing production at True North. Production costs and Depreciation and depletion also increased in the fourth quarter due to an increase in sales volumes. Write-down of production inventories in 2016 were recorded in the fourth quarter at Midas and True North due to lower period-end metal price levels and increases in production costs. Business acquisition costs were associated with the Hollister acquisition and Provision for legal settlement is related to litigation with a former employee.
Full year 2016
When compared to the prior year, 2016 Revenues increased as a result of increases in the number of gold ounces sold from higher tons mined at Fire Creek and Midas and commencing production at True North during the second half of 2016, the volumes of which were impacted by changes in average realized prices. Production costs and Depreciation and depletion increased from the prior period due primarily to an increase in sales volumes. General and administrative increased in 2016 due to increased staff levels at the corporate office, severance payments, and costs associated with our deferred share unit plan. Exploration spending was at Fire Creek and Midas while Development and projects costs were attributable to True North and Hollister.
Liquidity and Capital Resources
 
  
   
 
 
 Three months ended December 31, 2016
  Year endedDecember 31, 2016
 
Net (loss) income
 $2,178
  $(1,700
)
Net non-cash adjustments
  5,257
   36,003
 
Net change in non-cash working capital
  7,202
   10,967
 
 Net cash provided by operating activities
  14,637
   45,270
 
 Net cash used in investing activities
  (98,061
)  (159,693
)
 Net cash provided by financing activities
  2,182
   104,608
 
 Effect of foreign exchange on cash balances
  (2,263
)  (1,646
)
  Net decrease in cash
  (83,505
)  (11,461
)
  Cash, beginning of period
  131,141
   59,097
 
  Cash, end of period
 $47,636
  $47,636
            Fourth quarter 2016
Fourth quarter 2016 operating cash flows benefited from increases in ounce sales which were offset by lower average realized prices. The $98.1 million used in investing activities reflects the $80.0 million cash payment to complete the Hollister acquisition. Financing cash flows include the refinancing of the $12.0 million secured promissory note with a corresponding draw on the Revolver.
Full year 2016
During 2016 we generated $45.3 million of net operating cash flows which were positively impacted by higher production levels which increased the total cash margin from operations, offset by higher General and administrative, Exploration, and Development and projects costs. Cash used in investing activities included $100.0 million for acquisitions and $61.7 million for expenditures on mineral properties, plant and equipment. The issuance of share capital, which included a $95.7 million bought deal financing and option and warrant exercises, benefited our cash balances by $105.9 million and were slightly reduced for net debt borrowings and repayments.
Working capital and liquidity
We maintained our strong financial position and as of December 31, 2016, had total liquidity of $56.2 million, consisting of $33.2 million in working capital and $23.0 million of borrowing availability under our Revolver.
Fourth Quarter and Year To Date 2016 Summary Operational Results
 
  
 
 
 Three months ended December 31, 2016
 
Mine operations
 Fire Creek
  Midas
  Nevada Total(1)
  True North
  

  Total
 
Ore tons milled
  27,721
   53,809
   81,530
   63,962
  
   145,492
 
Average gold equivalent mill head grade (oz/ton)(2)
  1.07
   0.32
   0.58
   0.14
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   0.38
 
Average gold mill head grade (oz/ton)
  1.06
   0.21
   0.50
   0.14
  
   0.34
 
Average silver mill head grade (oz/ton)
  0.80
   7.87
   5.46
   –
 (4)
   3.06
 
Average gold recovery rate (%)
  93.8
%  93.5
%  93.7
%  93.4

   93.6
%
Average silver recovery rate (%)
  84.4
%  83.9
%  84.0
%  –
%(4)
   84.0
%
Gold equivalent produced (oz)(2)
  27,878
   15,549
   43,441
   8,445
  
   51,923
 
Gold produced (oz)
  27,613
   10,537
   38,150
   8,433
  
   46,583
 
Silver produced (oz)
  18,729
   355,317
   374,046
   853
  
   374,899
 
Gold equivalent sold (oz)(2)(3)
  27,347
   13,318
   40,680
   7,028
  
   47,745
 
Gold sold (oz)
  27,035
   8,354
   35,389
   7,016
  
   42,405
 
Silver sold (oz)
  22,103
   351,946
   374,049
   853
  
   374,902
 
Revenues and realized prices
   
    
    
    
  
    
 
Gold revenue (000s)
 $31,933
  $9,903
  $41,836
  $7,993
  
  $49,829
 
Silver revenue (000s)
  369
   5,888
   6,257
   14
  
   6,271
 
 Total revenues (000s)
 $32,302
  $15,791
  $48,093
  $8,007
  
  $56,100
 
Average realized gold price ($/oz)
 $1,181
  $1,185
  $1,182
  $1,139
  
  $1,175
 
Average realized silver price ($/oz)
 $16.69
  $16.73
  $16.73
  $16.41
  
  $16.73
 
Non-GAAP Measures
   
    
    
    
  
    
 
Production cash costs per GEO sold(2)(3)
 $474
  $993
  $644
  $1,686
  
  $797
 
All-in costs per gold ounce sold(3)
  n/a
   n/a
   n/a
   n/a
  
  $1,458
 
(1) Nevada Total includes Fire Creek and Midas.
(2) Gold equivalent measures are the gold measure plus the silver measure divided by a GEO ratio. GEO ratios are computed by dividing the average realized gold price per ounce by the average realized silver price per ounce received by us in the respective period and match the ratios used to determine the production cash costs per GEO sold. Refer to the Non-GAAP Performance Measures section of this Press Release for additional detail.
(3) This is a non-GAAP measure; refer to the Non-GAAP Performance Measures section of this Press Release for additional detail.
(4) The Company does not track this silver statistic at True North due to silver being immaterial to that operation.
 
 
  
 
 
 Year ended December 31, 2016
 
Mine Operations
 Fire Creek
  Midas
  Nevada Total(1)
  True North
  
  Total
 
Ore tons milled
  120,553
   190,982
   311,535
   95,710
  
   407,245
 
Average gold equivalent mill head grade (oz/ton)(2)
  0.91
   0.28
   0.52
   0.11
  
   0.43
 
Average gold mill head grade (oz/ton)
  0.90
   0.17
   0.45
   0.11
  
   0.37
 
Average silver mill head grade (oz/ton)
  0.77
   8.13
   5.28
   –
 (4)
   4.04
 
Average gold recovery rate (%)
  93.6
%  93.9
%  93.7
%  92.7

   93.6
%
Average silver recovery rate (%)
  86.6
%  86.7
%  86.7
%  –
%(4)
   86.7
%
Gold equivalent produced (oz)(2)
  102,383
   48,623
   151,007
   10,199
  
   161,289
 
Gold produced (oz)
  101,286
   29,824
   131,110
   10,187
  
   141,297
 
Silver produced (oz)
  80,593
   1,345,989
   1,426,582
   853
  
   1,427,435
 
Gold equivalent sold (oz)(2)(3)
  100,022
   50,977
   151,004
   8,028
  
   159,118
 
Gold sold (oz)
  98,723
   31,777
   130,500
   8,016
  
   138,516
 
Silver sold (oz)
  95,454
   1,374,685
   1,470,139
   853
  
   1,470,992
 
Revenues and realized prices
   
    
    
    
  
    
 
Gold revenue (000s)
 $123,403
  $39,783
  $163,186
  $9,329
  
  $172,515
 
Silver revenue (000s)
  1,623
   24,023
   25,646
   14
  
   25,660
 
 Total revenues (000s)
 $125,026
  $63,806
  $188,832
  $9,343
  
  $198,175
 
Average realized gold price ($/oz)
 $1,250
  $1,252
  $1,250
  $1,164
  
  $1,245
 
Average realized silver price ($/oz)
 $17.00
  $17.48
  $17.44
  $16.41
  
  $17.44
 
Non-GAAP Measures
   
    
    
    
  
    
 
Production cash costs per GEO sold(2)(3)
 $462
  $981
  $637
  $1,552
  
  $683
 
All-in costs per gold ounce sold(3)
  n/a
   n/a
   n/a
   n/a
  
  $1,335
 
(1) Nevada Total includes Fire Creek and Midas.
(2) Gold equivalent measures are the gold measure plus the silver measure divided by a GEO ratio. GEO ratios are computed by dividing the average realized gold price per ounce by the average realized silver price per ounce received by us in the respective period and match the ratios used to determine the production cash costs per GEO sold. Refer to the Non-GAAP Performance Measures section of this Press Release for additional detail.
(3) This is a non-GAAP measure; refer to the Non-GAAP Performance Measures section of this Press Release for additional detail.
(4) The Company does not track this silver statistic at True North due to silver being immaterial to that operation.
 Nevada operations
We achieved the full-year 2016 plan which entailed production growing from the first half to the second half of the year, as planned sequencing and ore development activities performed throughout the year contributed to quarter over quarter grade increases. As a result, consolidated gold equivalent mill head grades increased quarter over quarter in 2016 and were: 0.44 oz/ton in the first, 0.52 oz/ton in the second, 0.55 oz/ton in the third, and 0.57 oz/ton in the fourth. Production increased in 2016 to a record 151,007 GEOs. Full-year gold equivalent grades of 0.52 oz/ton in 2016 contributed to consistently low production cash costs per GEO of $637, resulting in a margin of $613 (or 49.0%) per ounce using average realized gold prices in 2016.
Canadian operations
We achieved True North’s full-year 2016 plan which entailed production commencing in the third quarter from reprocessing tailings and increasing in the fourth quarter when stockpiled ore processing began. Actual production of 10,187 gold ounces was in the middle of our expected range of 8,000 – 12,000 gold ounces.
Webcast and Conference Call
Klondex will report its 2016 financial results after market close on Thursday, March 23, 2017. A conference call and webcast will be held the following morning on Friday, March 24, 2017 at 10:30 am ET/7:30 am PT. The conference call telephone numbers are listed below:
Canada & USA Toll Free Dial In: 1-800-319-4610Toronto: +1 1-416-915-3239International: +1-604-638-5340
Callers should dial in 5 to 10 minutes prior to the scheduled start time and ask to join the Klondex call. The presentation materials will be available on the Company’s website and by webcast by clicking: http://services.choruscall.ca/links/klondex20170316.html.
About Klondex Mines Ltd. (www.klondexmines.com)
Klondex Mines Ltd. is a well-capitalized, junior-tier gold and silver mining company focused on mining, exploration, development, and production in a safe, environmentally responsible, and cost-effective manner. As of December 31, 2016, Klondex Mines Ltd. had 100% interests in three producing mines: (1) the Fire Creek mine and (2) the Midas mine and ore milling facility, both of which are located in the state of Nevada, USA, and (3) the True North gold mine and mill in Manitoba, Canada. The Company also has 100% interests in two recently acquired projects: (1) the Hollister mine and (2) the Aurora mine and ore milling facility, both of which are also located in Nevada, USA. During 2017 we expect our production to come from Fire Creek, Midas, and True North, and extracted from the Hollister Project under a bulk sampling program.
Cautionary Note Regarding Forward-looking Information
This news release contains certain information that may constitute forward-looking information or forward-looking statements under applicable Canadian and United States securities legislation (collectively, “forward-looking information”), including but not limited to the Company’s achievement of the full-year projections for ounce production and production costs, the Company’s ability to meet annual operations estimates, and the Company’s capital addition expenditures. This forward-looking information entails various risks and uncertainties that are based on current expectations, and actual results may differ materially from those contained in such information. These uncertainties and risks include, but are not limited to, the strength of the global economy; the price of gold; operational, funding and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; the degree to which mineral reserve estimates are reflective of actual mineral reserves; the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with underground operations; and the ability of Klondex to fund its substantial capital requirements and operations. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada and United States available at www.sedar.com and www.sec.gov, respectively. Readers are urged to read these materials. Klondex assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by law.
Non-GAAP performance measures
We have included the non-GAAP measures “Production cash costs per gold equivalent ounce sold” and “All-in costs per gold ounce sold” in this press release (collectively, the “Non-GAAP Measures”). These Non-GAAP Measures are used internally to assess our operating and economic performance and to provide key performance information to management. We believe that these Non-GAAP Measures, in addition to conventional measures prepared in accordance with GAAP, provide investors with an improved ability to evaluate our performance and ability to generate cash flows required to fund our business. These Non-GAAP Measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. These Non-GAAP Measures do not have any standardized meaning prescribed under GAAP, and therefore may not be comparable to or consistent with measures used by other issuers or with amounts presented in our financial statements.
Our primary business is gold production and our future development and current operations primarily focus on maximizing returns from such gold production. As a result, our Non-GAAP Measures are calculated and disclosed on a per gold or gold equivalent ounce basis.
Production cash costs per gold equivalent ounce sold
Production cash costs per gold equivalent ounce sold presents our cash costs associated with the production of gold equivalent ounces and, as such, non-cash depreciation and depletion charges are excluded. Production cash costs per gold equivalent ounce sold is calculated on a per gold equivalent ounce sold basis, and includes all direct and indirect operating costs related to the physical activities of producing gold, including mining, processing, third-party refining expenses, on-site administrative and support costs, royalties, and cash portions of net realizable value write-downs on production-related inventories (State of Nevada net proceeds and other such taxes are excluded). We believe that converting the benefits from selling silver ounces into gold ounces is helpful to analysts and investors as it best represents the way we operate, which is to maximize returns from gold production. Gold equivalent ounces are computed as the number of silver ounces required to generate the revenue derived from the sale of one gold ounce, using average realized selling prices (in thousands, except ounces sold and per ounce amounts):
 
  
 
 Three months ended December 31, 2016
 
 Fire Creek
 Midas
 Nevada Total
 True North
 Total
Average realized price per gold ounce sold
 $1,181
 $1,185
 $1,182
 $1,139
 $1,175
Average realized price per silver ounce sold
 $16.69
 $16.73
 $16.73
 $16.41
 $16.73
 Silver ounces equivalent to revenue from one gold ounce
  70.8
  70.9
  70.7
  69.4
  70.2
Silver ounces sold
  22,103
  351,946
  374,049
  853
  374,902
 GEOs from silver ounces sold
  312
  4,964
  5,291
  12
  5,340
Gold ounces sold
  27,035
  8,354
  35,389
  7,016
  42,405
 Gold equivalent ounces
  27,347
  13,318
  40,680
  7,028
  47,745
Production costs
 $12,961
 $12,815
 $25,776
 $9,932
 $35,708
Add: Write-down of production inventories (cash portion)
  –
  405
  405
  1,918
  2,323
 
 $12,961
 $13,220
 $26,181
 $11,850
 $38,031
 Production cash costs per GEO sold
 $474
 $993
 $644
 $1,686
 $797
 
   
   
   
   
   
 
  Year ended December 31, 2016
 
  Fire Creek
  Midas
  Nevada Total(1)
  True North
  Total
Average realized price per gold ounce sold
 $1,250
 $1,252
 $1,250
 $1,164
 $1,245
Average realized price per silver ounce sold
 $17.00
 $17.48
 $17.44
 $16.41
 $17.44
 Silver ounces equivalent to revenue from one gold ounce
  73.5
  71.6
  71.7
  70.9
  71.4
Silver ounces sold
  95,454
  1,374,685
  1,470,139
  853
  1,470,992
 GEOs from silver ounces sold
  1,299
  19,200
  20,504
  12
  20,602
Gold ounces sold
  98,723
  31,777
  130,500
  8,016
  138,516
 Gold equivalent ounces
  100,022
  50,977
  151,004
  8,028
  159,118
Production costs
 $46,246
 $49,599
 $95,845
 $10,544
 $106,389
Add: Write-down of production inventories (cash portion)
  –
  405
  405
  1,918
  2,323
 
 $46,246
 $50,004
 $96,250
 $12,462
 $108,712
 Production cash costs per GEO sold
 $462
 $981
 $637
 $1,552
 $683
(1) Nevada Total includes Fire Creek and Midas.
 All-in costs per gold ounce sold
Our calculation of all-in costs per gold ounce sold is consistent with the June 2013 guidance released by the World Gold Council, a non-regulatory, non-profit market development organization for the gold industry. All-in costs per gold ounce sold reflect the varying costs of producing gold over the life-cycle of a mine or project, including costs required to discover and develop new sources of production; therefore, capital amounts related to expansion and growth projects are included.
All-in costs per gold ounce sold includes all: (1) direct and indirect operating cash costs related to the physical activities of producing gold, including mining, processing, third-party refining expenses, on-site administrative and support costs, royalties, and cash portions of net realizable value write-downs on production-related inventories (2) general and administrative expenses, (3) asset retirement and accretion expenses, and (4) capital expenditures, the total of which is reduced for revenues earned from silver sales. Certain cash expenditures, including State of Nevada net proceeds and other related taxes, federal tax payments, and financing costs are excluded (in thousands, except ounces sold and per ounce amounts):
 
  
 
 Three months ended December 31, 2016
 
 NevadaTotal(1)
 True North
 Hollister,Aurora, andCorporate
 Total
Production costs
 $25,776
 $9,932
 $-
 $35,708
Add: Write-down of production inventories (cash portion)
  405
  1,918
  –
  2,323
 
  26,181
  11,850
  –
  38,031
General and administrative
   
   
   
  4,368
Exploration
   
   
   
  4,502
Development and projects costs
   
   
   
  3,423
Asset retirement and accretion
   
   
   
  1,898
Expenditures on mineral properties, plant and equipment
   
   
   
  15,874
Less: silver revenue
   
   
   
  (6,271)
 All-in costs
   
   
   
  61,825
Gold ounces sold
  35,389
  7,016
  –
  42,405
 All-in costs per gold ounce sold
   
   
   
 $1,458
(1) Nevada Total includes Fire Creek and Midas.
 
   
   
   
   
 
  Year ended December 31, 2016
 
  NevadaTotal(1)
  True North
  Hollister,Aurora, andCorporate
  Total
Production costs
 $95,845
 $10,544
 $-
 $106,389
Add: Write-down of production inventories (cash portion)
  405
  1,918
  –
  2,323
 
  96,250
  12,462
  –
  108,712
General and administrative
   
   
   
  15,804
Exploration
   
   
   
  12,765
Development and projects costs
   
   
   
  8,953
Asset retirement and accretion
   
   
   
  2,653
Expenditures on mineral properties, plant and equipment
   
   
   
  61,716
Less: silver revenue
   
   
   
  (25,660)
 All-in costs
   
   
   
  184,943
Gold ounces sold
  130,500
  8,016
  –
  138,516
 All-in costs per gold ounce sold
   
   
   
 $1,335
(1) Nevada Total includes Fire Creek and Midas. 
使用线上学习,学生可以从丰富的媒体资源中快速获取信息及网络上的各种资料。

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19. Preisverleihung der L’Oréal-UNESCO For Women in Science Awards − Ein Abend im Zeichen von Frauen, die die Welt verändern können

PARIS, March 23, 2017 /PRNewswire/ —
Gestern Abend fand die 19. Preisverleihung der L’Oréal-UNESCO For Women in Science Awards im Maison de la Mutualité in Paris statt. Viele internationale Vertreter der Wissenschaft haben fünf außergewöhnliche Frauen aus der Forschung und ihre Erfolge in den Naturwissenschaften gewürdigt. Die Veranstaltung wurde von Irina Bokova, Generaldirektorin der UNESCO, und Jean-Paul Agon, Vorsitzender und CEO von L’Oréal sowie Vorsitzender der L’Oréal-Stiftung, eröffnet. Das vollständige Pressedossier finden Sie hier:http://fondationloreal.com/documents/9e75d9f5-f216-4afa-95a5-ad4fd0747852/download?lang=en
(Photo: http://mma.prnewswire.com/media/480062/Loreal1.jpg )
(Photo: http://mma.prnewswire.com/media/480063/Loreal2.jpg )
(Photo: http://mma.prnewswire.com/media/480063/Loreal3.jpg )
(Photo: http://mma.prnewswire.com/media/480064/Loreal4.jpg )

(Photo: http://mma.prnewswire.com/media/480065/Loreal5.jpg )
Die Preisträgerinnen 2017: Frauen aus der wissenschaftlichen Elite
Die L’Oréal-UNESCO For Women in Science Awards 2017 würdigten fünf herausragende Wissenschaftlerinnen, ihre Erfolge und ihre Kreativität. Jede dieser Frauen wurde mit einem mit 100.000€ dotierten Preis ausgezeichnet. Damit sollen ihre wissenschaftlichen Beiträge in den Bereichen Quantenphysik, Naturwissenschaften und Astrophysik anerkannt und gewürdigt werden.
VISUELL
Diese Wissenschaftlerinnen aus fünf unterschiedlichen Kontinenten leisten einen bedeutenden Beitrag, um die Situation auf unserem Planeten zu verbessern:
Professor Niveen M. KHASHAB (Saudi-Arabien), für die Entwicklung neuer Nanopartikel zur Verbesserung der Früherkennung von Krankheiten.
Ihre Arbeit im Bereich analytischer Chemie könnte zu einer gezielteren und personalisierteren medizinischen Behandlung führen.
Professor Michelle SIMMONS (Australien), für ihre Pionierarbeit im Bereich ultraschneller Quantencomputer.
Ihre Arbeit an atomaren Transistoren könnte einen Beitrag zur Entwicklung zukünftiger Computer leisten.
网络教学的一大优势是可以随时随地进行学习,不再受制于时间和空间的限制。
Professor Nicola A. Spaldin (Schweiz), für die Entwicklung magnetischer Materialien zum Einsatz in elektronischen Geräten der nächsten Generation.
Ihre Forschung im Bereich multiferroischer Materialien könnte eine neue Generation von elektronischen Gerätebestandteilen hervorbringen.
Professor Maria Teresa Ruiz (Chile), für die Entdeckung einer neuen Art von Himmelskörper, zum Teil Stern und zum Teil Planet, verborgen in der Dunkelheit des Universums.
Ihre Beobachtungen von sogenannten braunen Zwergen kann dazu beitragen, die universelle Frage nach Leben auf anderen Planeten zu beantworten.
Professor Zhenan Bao (USA), für die Entwicklung von durch die menschliche Haut inspirierter elektronischer Materialien.
如何保障信息安全控制措施的有效性
Ihre Forschung im Bereich flexibler, dehnbarer und leitender Materialien kann dazu beitragen, die Lebensqualität von Patienten mit Prothesen verbessern.
Jean-Paul Agon hob in seiner Eröffnungsrede den Einfluss aller Wissenschaftlerinnen hervor, die in diesem Jahr ausgezeichnet wurden. “Nur wenn die wissenschaftliche Forschung im Dienst der Weltbevölkerung geteilt und kontrolliert wird ist sie in der Lage, die gewaltigen Herausforderungen des 21.Jahrhunderts zu bewältigen − und unsere Forscherinnen sind dafür der Beweis. Sie tragen zur großen Bedeutung der Wissenschaft bei.”
Kontakt: L’Oréal-Stiftung Ludivine DESMONTS-MORNET ludivine.desmonts-mornet@loreal.com +33-(0)1-47-56-77-47
UNESCO Vincent DEFOURNY v.defourny@unesco.org +33-(0)-1-45-68-12-11
Agence MATRIOCHKA für die L’Oréal-Stiftung Delphine HILAIRE delphine.hilaire@mtrchk.com +33-(0)-6-22-68-29-64
Carly NEWMAN carly.newman@mtrchk.com +33-(0)-6-65-00-41-66
SOURCE The L’Oréal Foundation
网络教学相比传统教学模式,更能培养学生信息获取、加工、分析、创新、利用、交流的能力。

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Olympia Financial Group Inc. Named one of Alberta’s Top Employers

CALGARY, ALBERTA–(Marketwired – March 23, 2017) – Olympia Financial Group Inc. (TSX:OLY) is pleased to announce that it has been named one of Alberta’s Top Employers.
Now in its 12th year, Alberta’s Top Employers is an editorial competition that recognizes the Alberta-based employers that lead their industries in offering exceptional places to work. Employers across the province were evaluated by the editors at Canada’s Top 100 Employers using the same criteria as the national competition: Physical Workplace; Work Atmosphere & Social; Health, Financial & Family Benefits; Vacation & Time-Off; Employee Communications; Performance Management; Training & Skills Development; and Community Involvement. Employers are compared to other organizations in their field to determine which offer the most progressive and forward-thinking programs. The annual competition is open to any employer with its head office in Alberta; employers of any size may apply, whether private or public sector.
About Olympia Financial Group Inc.

刘彩辞任京信通信独立非执行董事
信息时代,知识更新速度快,线上学习是终身教育体系的重要支撑。
Olympia conducts most of its operations through its wholly-owned subsidiary Olympia Trust Company, a non-deposit taking trust company. Olympia Trust Company is licensed to conduct trust activities in Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Newfoundland and Labrador, Prince Edward Island, New Brunswick and Nova Scotia. Olympia Trust Company administers self-directed registered accounts and offers foreign currency exchange services. OFGI also offers private health services plans through its wholly-owned subsidiary Olympia Benefits Inc., operates an ATM business through its wholly-owned subsidiary Olympia ATM Inc. and provides information technology services to exempt market dealers, registrants and issuers through its subsidiary Exempt Edge Inc.
Olympia’s common shares are listed on the Toronto Stock Exchange under the symbol “OLY”.
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Morocco, Longtime US Counterterrorism Ally, Attends Anti-ISIS Coalition Meeting in Washington

WASHINGTON–(BUSINESS WIRE)–Nasser Bourita, Morocco’s Minister Delegate of Foreign Affairs and Cooperation, was in Washington yesterday for a meeting of the Ministers of the anti-ISIS Global Coalition, convened by US Secretary of State Rex Tillerson to “review and accelerate the campaign for the lasting defeat of ISIS.” Morocco was the first Maghreb country to join the coalition, and was designated a non-NATO ally by President George W. Bush in 2004.
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“Together, we share a resolve to deal ISIS or Daesh a lasting defeat,” said Secretary Tillerson in his remarks. “Our coalition is united in stopping an ISIS resurgence, halting its global ambitions and discrediting its ideological narrative. And we’re ready to grow stronger and stay aggressive in this battle.”
Secretary Tillerson outlined four countermeasures to “stay ahead of” ISIS: persisting “with in-country counterterrorism and law enforcement operations”; “greater intelligence and information sharing within our own domestic intelligence agencies and among our nations”; combating “a warped interpretation of Islam”; and breaking “ISIS’s ability to spread its messages and recruit new followers online.”
The countermeasures shared by Secretary Tillerson reflect the many ways Morocco has sought to tackle extremism and the threat of terrorism over the past few years. In May 2015, the country strengthened its counterterrorism operations by creating the Central Bureau of Judicial Investigation to bring different elements of the security sector under a central institution. That same year, Morocco’s Parliament enacted laws to criminalize “joining, or attempting to join a terrorist group; receiving terrorist training; and terrorist recruiting.” In addition to the anti-terrorist activities of its security forces, Morocco is taking steps to block terrorists’ access to financial resources and monitor religious organizations to ensure that donations are not used to finance terrorist activities.
Morocco has been a strong proponent of greater intelligence sharing and maintains close intelligence relations with the US and countries throughout Europe and the Middle East. Following the November 2015 terrorist attacks in Paris, Morocco provided the intelligence that enabled French police to locate the mastermind of the attacks and arrest a Belgian national with direct links to the Islamist gunmen and bombers.
Morocco has also been at the front lines of the ideological battle against religious extremism. Since the early 2000s, the country has reorganized its religious structures—upgrading mosques, publishing an official bulletin of imams, creating a Directorate of Religious Education within the Ministry of Islamic Affairs, training both men and women as religious preachers, among other steps—to protect against radicalization. In a scathing rebuke of Islamic extremism, King Mohammed VI said in a speech delivered to the nation in August 2016, “Those who engage in terrorism, in the name of Islam, are not Muslims… They have strayed from the right path, and their fate is to dwell forever in hell.”

“The meeting was an opportunity to highlight the vision of His Majesty the King to fight the terrorist threat,” said Minister Bourita. “It is a multidimensional approach that includes preventive and repressive aspects.”
邢台市第一中学举行交互式电子白板应用培训
Representatives from all 68 member countries and organizations attended the meeting; from North Africa, Minister Bourita was joined by representatives from Egypt, Libya, and Tunisia.
The Moroccan American Center for Policy (MACP) is a non-profit organization whose principal mission is to inform opinion makers, government officials, and interested publics in the United States about political and social developments in Morocco and the role being played by the Kingdom of Morocco in broader strategic developments in North Africa, the Mediterranean, and the Middle East.
This material is distributed by the Moroccan American Center for Policy on behalf of the Government of Morocco. Additional information is available at the Department of Justice in Washington, DC.
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ON Semiconductor Takes a Leading Position within APEC 2017

TAMPA, Fla.–(BUSINESS WIRE)–ON Semiconductor (Nasdaq: ON), driving energy efficient innovations, has announced a significant involvement in APEC 2017, a flagship event for the global power electronics industry. During the event, senior members of ON Semiconductor’s technical teams will share key knowledge through a series of professional education and industry sessions. The sessions will cover topics relevant to today’s design engineering community, including:
EMI Filter Interactions with Switching Converters – Monday, March 27th, 8:30 a.m. – 12:00 p.m., Room 13/14
Conduction Band Control for High Efficiency and High Power Density Adapters – Tuesday, March 28th, 8:30 a.m. – 12:00 p.m., Room 18/19

Challenges in Modelling and Measuring IGBT Power Losses – Wednesday, March 29th, 2:00 p.m. – 5:25 p.m., Room 11
UVLO with Zero Static Power Consumption Power-on Reset Circuit in HVIC – Thursday, March 30th, 11:30 a.m., Ballroom B/C
Alongside the sessions, at the ON Semiconductor booth, engineers will have the opportunity to view demonstrations of leading technology – including some items being shown for the first time. Booth visitors will be able to test a new module within the existing Power Supply WebDesigner™ suite of online design tools. The Synchronous Buck Powertrain module offers complete powertrain design and analysis, including power MOSFETs, output inductor, output capacitor and optional snubber. The tool enables a complete design in minutes by simply entering system requirements and clicking “auto-complete,” or fine-tuning using the guided design flow through all design steps, loss and efficiency analysis, to the schematic, BOM and design report.
Other key demonstrations will include:
USB Type-C
Wall-to-Battery Contact Charging
IoT Development Kit (IDK) with PoE Shield
Arduino Motor Driver Modular Development Kit
Wide Band Gap Double-Pulse Tester
High Power Density & High Switching Frequency Adapter
Best-in-Class LLC Synchronous Rectification
Mid-Voltage Buck Converter (FAN6500xx)
100 V Bridge Power Stage for Cloud Power (FDMF8811)
Stop by ON Semiconductor’s booth (#1001) at 2017 APEC, March 26-30 in Tampa, Fla. ON Semiconductor experts will be at the booth all week to answer questions regarding the company’s solutions for energy efficient power innovations. Visit the website for more information about ON Semiconductor’s presence at APEC 2017.
网络安全应急资源调度平台
About ON Semiconductor
ON Semiconductor (Nasdaq: ON) is driving energy efficient innovations, empowering customers to reduce global energy use. The company is a leading supplier of semiconductor-based solutions, offering a comprehensive portfolio of energy efficient, power management, analog, sensors, logic, timing, connectivity, discrete, SoC and custom devices. The company’s products help engineers solve their unique design challenges in automotive, communications, computing, consumer, industrial, medical, aerospace and defense applications. ON Semiconductor operates a responsive, reliable, world-class supply chain and quality program, a robust compliance and ethics program, and a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe and the Asia Pacific regions. For more information, visit http://www.onsemi.com.
Follow @onsemi on Twitter.
网络教学能够培养学生良好的信息素养,把信息技术作为支持终身学习和合作学习的手段,为适应信息社会的学习、工作和生活打下必要的基础。
ON Semiconductor and the ON Semiconductor logo are registered trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders. Although the company references its website in this news release, information on the website is not to be incorporated herein.
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网络教学利用计算机网络为主要手段教学,是远程教学的一种重要形式,是利用计算机设备和互联网技术对学生实行信息化教育的教学模式。

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Voya High Income Floating Rate Fund and Voya Floating Rate Senior Loan Fund Announce Proposed Fund Merger and Unitholder Meetings

TORONTO, ONTARIO–(Marketwired – March 23, 2017) –
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
LOGiQ Asset Management Ltd. (TSX:LGQ) is pleased to announce that it intends to merge (the “Merger”) Voya High Income Floating Rate Fund and Voya Floating Rate Senior Loan Fund, resulting in Voya Floating Rate Senior Loan Fund being the continuing fund (the “Continuing Fund”) and Voya High Income Floating Rate Fund being the terminating fund (the “Terminating Fund” and together with the Continuing Fund, the “Funds”). LOGiQ Asset Management Ltd. (the “Manager”) is the manager of both Funds.
The proposed Merger is subject to unitholder approval. Separate special unitholder meetings (the “Meetings”) of both Funds are expected to be held concurrently on May 2, 2017. For the purposes of the Meetings, the record date is expected to be March 24, 2017. Upon receipt of all necessary approvals, it is expected that the Merger will be implemented on or about July 14, 2017. The Terminating Fund will be wound up as soon as reasonably practicable following the Merger.
网络教学能够培养学生良好的信息素养,把信息技术作为支持终身学习和合作学习的手段,为适应信息社会的学习、工作和生活打下必要的基础。
At the Meetings, unitholders of the respective Funds will be asked to consider and approve, among other things, the Merger and all related transactions. A notice and joint management information circular, which will include details of the matters to be considered at the Meetings, will be mailed to unitholders of the Funds and will be available on www.sedar.com.

让环安人员的培训工作变得轻松的视频课件以及在线教育服务
It is anticipated that unitholders of the Funds will benefit from the Merger due to reduced costs to unitholders, increased economies of scale, a larger asset base for the Continuing Fund and enhanced liquidity through expected higher trading volume on the Toronto Stock Exchange (“TSX”) of units of the Continuing Fund. In addition, Class U Unitholders of the Terminating Fund will benefit from a TSX listing of the Class U Units as the Class U Units of the Terminating Fund are not listed.
If the Merger is approved by unitholders of the Funds at the Meetings, unitholders of the Terminating Fund who do not wish to be part of the Merger will have the option to redeem their units for cash at net asset value as a special redemption right which will be granted prior to the Merger. Unitholders can wait until after the results of the Meetings are announced before choosing to exercise the special redemption right. The Merger will be effected at the net asset value of the Terminating Fund. The Merger is conditional upon the approval of unitholders of the Funds and the TSX.
The Class A Units of Voya High Income Floating Rate Fund are listed on the TSX under the symbol IHL.UN. The Class A Units of Voya Floating Rate Senior Loan Fund are listed on the TSX under the symbol ISL.UN. The Class U Units of Voya Floating Rate Senior Loan Fund are listed on the TSX under the symbol ISL.U
The Manager is a wholly-owned subsidiary of LOGiQ Asset Management Inc. (TSX:LGQ), (formerly: “Aston Hill Financial Inc.” (TSX:AHF)). LOGiQ Asset Management Inc. is a diversified asset management company with a suite of retail mutual funds, closed end funds, hedge funds and segregated institutional funds. LOGiQ Asset Management is headquartered in Toronto.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will”, “estimate” and similar expressions to the extent they relate to the Funds and the Manager. The forward-looking statements are not historical facts but reflect the current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Funds and the Manager believe that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither the Funds nor the Manager undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
网络教学利用计算机网络为主要手段教学,是远程教学的一种重要形式,是利用计算机设备和互联网技术对学生实行信息化教育的教学模式。

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Kroll Bond Rating Agency Assigns Preliminary Ratings to CGCMT 2017-P7

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 15 classes of the CGCMT 2017-P7 transaction (see ratings list below). CGCMT 2017-P7 is a $1.0 billion CMBS conduit transaction collateralized by 46 commercial mortgage loans secured by 58 properties.
The underlying collateral properties are located in 24 states, with three state exposures that each represents more than 10.0% of the pool balance: New York (20.7%), California (20.6%), and Ohio (13.9%). The pool has exposure to all of the major property types, with two that represent more than 10.0% of the pool balance: office (53.6%) and retail (18.6%). The loans have principal balances ranging from $2.5 million to $74.7 million for the largest loan in the pool, Mack-Cali Short Hills Office Portfolio (7.3%), a 572,168 sf Class-A suburban office complex located in Short Hills, New Jersey, approximately 25 miles west of New York City. The five largest loans, which also include 50 Broadway (6.0%), Key Center Cleveland (4.9%), Scripps Center (4.9%), and Cascade Village (4.9%), represent 28.0% of the initial pool balance, while the 10 largest loans represent 46.0%.
快讯:罗顿发展涨停 报于15.57元
KBRA’s analysis of the transaction incorporated our multi-borrower rating process that begins with our analysts’ evaluation of underlying collateral properties’ financial and operating performance, which determine KBRA’s estimate of sustainable net cash flow (KNCF) and KBRA value using our CMBS Property Evaluation Methodology. On an aggregate basis, KNCF was 6.5% less than the issuer cash flow. KBRA capitalization rates were applied to each asset’s KNCF to derive values that were, on an aggregate basis, 40.1% less than third party appraisal values. The pool has an in-trust KLTV of 99.5% and an all-in KLTV of 105.2%. The model deploys rent and occupancy stresses, probability of default regressions, and loss given default calculations to determine losses for each collateral loan, which are then used to assign our credit ratings.
To satisfy the US credit risk retention rules, this transaction will employ an “L-shaped” structure. A third party purchaser will purchase an “eligible horizontal residual interest” consisting of the Class E, F and G certificates and each of the sponsors will retain a portion of the “eligible vertical interest” represented by the VRR Interest.
For complete details on the analysis, please see our presale report, CGCMT 2017-P7 published today at www.kbra.com. The report includes our KBRA Comparative Analytic Tool (KCAT). KCAT is an easy to use, Excel based workbook that provides the following information:
KBRA Deal Tape – contains KBRA loan level details for every loan in the pool, and the ability for users to input adjustments to KNCF and KBRA Cap Rates and see the related impact on key deal metrics.
KBRA Credit Metrics Comparison Tool – Enables the user to compare the subject transaction to a user-defined transaction comp set. The feature provides many of the fields that are included in our CMBS Monthly Trend Watch publication.
Excel based property cash flow statements for the top 20 loans.
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  Preliminary Ratings Assigned: CGCMT 2017-P7

Class     Initial Class Balance     Expected KBRA Rating A-1         $18,129,000     AAA (sf) A-2         $94,881,000     AAA (sf) A-3         $250,000,000     AAA (sf) A-4         $289,834,000     AAA (sf) A-AB         $49,088,000     AAA (sf) A-S         $71,447,000     AAA (sf) X-A         $773,379,000     AAA (sf) B         $45,124,000     AA (sf) X-B         $45,124,000     AAA (sf) C         $47,631,000     A (sf) X-C         $47,631,000     AAA (sf) D         $57,659,000     BBB- (sf) X-D         $57,659,000     BBB- (sf) E         $27,576,000     BB- (sf) F         $10,028,000     B (sf) G         $41,363,974     NR VRR Interest(1)         $22,556,995     NR Notional balance To satisfy the US risk retention rules, a third party purchaser will purchase an “eligible horizontal residual interest” consisting of the Class E, F and G certificates and each of the sponsors will retain a portion of the VRR Interest, an “eligible vertical interest” in the transaction represented by a single security. (1) KBRA is not assigning a rating to the VRR Interest. However, on and after the closing date, each sponsor can exchange its portion of the VRR Interest into exchangeable classes of certificates. The anticipated exchangeable classes to be issued on the closing date and preliminary ratings of the rated classes are as follows: V-A, AAA(sf); V-B, AA(sf); V-C, A(sf); V-D, BBB-(sf); V-AB, AA(sf); V-C, A(sf); V-D, BBB-(sf). The exchangeable classes will continue to be retained by the sponsors as an eligible vertical interest in accordance with US risk retention rules.   Representations & Warranties Disclosure
All Nationally Recognized Statistical Rating Organizations are required, pursuant to SEC Rule 17g-7, to provide a description of a transaction’s asset-level representations, warranties and enforcement mechanisms set forth in the related offering documents when issuing credit ratings. KBRA’s disclosure for this transaction is contained in the report entitled CMBS: CGCMT 2017-P7 Representations & Warranties Disclosure Report.
Related publications (available at www.kbra.com):
CMBS: CGCMT 2017-P7 Pre-Sale ReportCMBS: U.S. CMBS Multi-Borrower Rating Methodology, published January 4, 2017CMBS Property Evaluation Methodology, published December 3, 2015Methodology for Rating Interest-Only Certificates in CMBS Transactions, published June 6, 2016
Follow us on Twitter!@KrollBondRating
About Kroll Bond Rating Agency
KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).
Contacts
在网络教学模式下,学生完全可以在家里报读你单位开设的课程,免去了劳途奔波,节省了时间和精力,极大的增加了学习的方便性,同时不乏现场教学中的互动和交流。

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BlueLinx Completes Three Property Sales

Sales Generate Approximately $18.4 Million in Debt Reduction– 2017 July Mortgage Obligation to be Fully Satisfied –
ATLANTA, March 23, 2017 (GLOBE NEWSWIRE) — BlueLinx Holdings Inc. (NYSE:BXC), announced today that it has completed the sale of its non-operating facility in Allentown, Pennsylvania. The Company has also sold its Fort Worth, Texas and Miami, Florida distribution facilities while simultaneously entering into leases with the new owners of the two respective facilities. BlueLinx intends to continue to use both facilities to serve its customers in the Dallas-Fort Worth and South Florida areas and surrounding markets. With these property sales and all others incurred since April 2016, BlueLinx will fully satisfy its July 2017 CMBS mortgage payment obligation of $60 million three months ahead of schedule. “Less than a year ago we announced our initiative to reduce the Company’s financial leverage and are delighted to share that we continue to successfully execute on our strategy to deleverage BlueLinx. We are exploring additional sale and leaseback transactions, alternative refinancing options as well as other real estate optimization strategies to continue to improve the Company’s leverage and financial strength,” said Mitch Lewis, President and Chief Executive Officer.
Susan O’Farrell, Senior Vice President and Chief Financial Officer added, “We are thrilled with the property sales we completed in the first quarter of 2017, enabling us to satisfy our July 2017 mortgage obligation ahead of schedule. The substantial remaining real estate portfolio value, which is well above our outstanding mortgage, should enable us to continue to deleverage our balance sheet, while providing us with potential future opportunities to extract that value for the benefit of our growth strategies.”
About BlueLinx Holdings Inc.BlueLinx Holdings Inc., operating through its wholly owned subsidiary BlueLinx Corporation, is a leading distributor of building and industrial products in the United States.  The Company is headquartered in Atlanta, Georgia and operates its distribution business through its broad network of distribution centers. BlueLinx is traded on the New York Stock Exchange under the symbol BXC. Additional information about BlueLinx can be found on its website at www.BlueLinxCo.com.
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Forward-looking StatementsThis press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to our ability to return to profitability, and our guidance regarding anticipated financial results. All of these forward-looking statements are based on estimates and assumptions made by our management that, although believed by BlueLinx to be reasonable, are inherently uncertain. Forward-looking statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of BlueLinx’s control that may cause its business, strategy or actual results to differ materially from the forward-looking statements. These risks and uncertainties may include, among other things: changes in the prices, supply and/or demand for products that it distributes, general economic and business conditions in the United States; the activities of competitors; changes in significant operating expenses; changes in the availability of capital and interest rates; adverse weather patterns or conditions; acts of cyber intrusion; and other factors described in the “Risk Factors” section in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, its Quarterly Reports on Form 10-Q, and in its periodic reports filed with the Securities and Exchange Commission from time to time.  Given these risks and uncertainties, you are cautioned not to place undue reliance on forward-looking statements. BlueLinx undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events, and changes in expectation or otherwise, except as required by law.
BlueLinx Contact Information:
Susan O’Farrell, SVP, CFO & Treasurer
BlueLinx Holdings Inc.
(770) 953-7000

Natalie Poulos, Investor Relations
BlueLinx Holdings Inc.
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(770) 953-7522
investor.relations@bluelinxco.com
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Cytori Reports Fourth Quarter and Full Year 2016 Business and Financial Results

SAN DIEGO, March 23, 2017 (GLOBE NEWSWIRE) — Cytori Therapeutics (NASDAQ:CYTX) (“Cytori” or the “Company”) today announced its fourth quarter and year-end 2016 financial results and provided updates on its corporate activity and clinical development. 
Fourth quarter and full year 2016 net loss allocable to common stockholders was $4.9 million, or $0.24 per share, and $22.0 million, or $1.28 per share, respectively. Operating cash burn for the fourth quarter and full year 2016 was approximately $4.2 million and $19.5 million, respectively. Cytori ended the year with approximately $12.6 million of cash and cash equivalents.
Selected Key Recent Highlights:
Completed enrollment of U.S. STAR pivotal/phase III trial for scleroderma hand dysfunction.Completed acquisition of Azaya Therapeutics assets, and initiated nanomedicine development programs.Reported 24 month publication of SCLERADEC-I reporting sustained benefit at 24 months across  multiple endpoints in patients with scleroderma hand dysfunction.Received U.S. FDA orphan drug designation for cryopreserved or centrally processed HabeoTM for treatment of hand manifestations of systemic scleroderma.Received U.S. Small Business Designation and related fee reductions. Q4 and year-end 2016 Financial Performance
Q4 2016 and year-end operating cash burn was $4.2 million and $19.5 million, compared to $4.5 million and $20.5 million for the same periods in 2015, respectively.Q4 2016 and year-end total revenues were $3.0 million and $11.4 million, compared to $3.4 million and $11.7 million for the same periods in 2015, respectively.Cash and debt principal balances at December 31, 2016 were approximately $12.6 million and $17.7 million, respectively.Q4 2016 net loss allocable to common stockholders was $4.9 million or $0.24 per share, compared to a net loss of $2.8 million or $0.25 per share (or a net loss of $5.4 million and $0.50 per share when excluding a non-cash credit charge of $2.7 million related to the change in fair value of warrant liabilities) for the same period in 2015.2016 net loss allocable to common stockholders was $22.0 million or $1.28 per share, compared to $19.4 million or $2.07 per share (or a net loss of $26.4 million or $2.81 per share, which excludes a non-cash charge of $7.7 million related to the change in fair value of warrant liabilities and a beneficial conversion feature charge for convertible preferred stock of $0.7 million) for the same period in 2015. “Our corporate priority and fundamental driver of stockholder value remains the focused and expeditious development of our late stage clinical pipeline and related commercial preparatory activities. In 2016, we continued our focus on operational efficiency and maintaining momentum in our clinical development programs, nonetheless we reduced our net losses by 20%” said Tiago Girao, VP of Finance and CFO of Cytori. “In 2017, we will continue to make appropriate preparations for commercial launch of HabeoTM in anticipation of receipt of STAR trial data, and we also intend to complete the manufacturing activities necessary to submit a marketing authorisation application (MAA) for our recently acquired nanoparticle doxorubicin, ATI-0918, to the European Medicines Agency (EMA). We will address ongoing capital requirements through targeted activities, including, but not limited to, further operational efficiency measures, tighter working capital management, increased revenue, accessing the capital markets as appropriate, and an intense focus on only those activities that we believe will maximize stockholder value creation, such as business development opportunities.”
Selected Key Anticipated Milestones:
Receive feedback from U.S. FDA regarding thermal burn IDE trial application (Q2)Complete contracting discussions with BARDA regarding their potential funding of our thermal burn trial (Q2)Report of 48-week US pivotal/phase III trial data for scleroderma hand dysfunction and preparation for US PMA filing (Q3)Complete manufacturing activities required for submission of an MAA to the EMA for our recently acquired nanoparticle doxorubicin (Q4) 2017 Financial Guidance
The Company expects full year 2017 operating cash burn to be higher than 2016, primarily due to the development of assets acquired from Azaya Therapeutics, as well as costs to be incurred in preparation of anticipated HabeoTM launch and the Company’s expansion of its development program for secondary Raynaud’s Phenomenon.
Operating cash burn forecasted to be within a range of $26 million to $29 million Management Conference Call Webcast
Cytori will host a management conference call at 5:30 p.m. Eastern Time today to further discuss its progress. The webcast will be available live and by replay two hours after the call and may be accessed under “Webcasts” in the Investor Relations section of Cytori’s website. If you are unable to access the webcast, you may dial in to the call at +1.877.402.3914, Conference ID: 9218454.
About Cytori
Cytori is a therapeutics company developing regenerative and oncologic therapies from its proprietary cell therapy and nanoparticle platforms for a variety of medical conditions. Data from preclinical studies and clinical trials suggest that Cytori Cell Therapy™ acts principally by improving blood flow, modulating the immune system, and facilitating wound repair. As a result, Cytori Cell Therapy™ may provide benefits across multiple disease states and can be made available to the physician and patient at the point-of-care through Cytori’s proprietary technologies and products. Cytori Nanomedicine™ is developing encapsulated therapies for regenerative medicine and oncologic indications using technology that allows Cytori to use the benefits of its encapsulation platform to develop novel therapeutic strategies and reformulate other drugs to optimize their clinical properties. For more information, visit www.cytori.com.
Cautionary Statement Regarding Forward-Looking Statements

This press release includes forward-looking statements that involve known and unknown risks and uncertainties. All statements, other than historical facts are forward looking statements. Such statements, including, without limitation, statements regarding anticipated commercial launch of our Habeo™ therapy; completion of manufacturing activities necessary to submit an MAA to the EMA for our ATI-0918 drug candidate; our strategy for addressing our capital requirements through various activities, including operational efficiencies, revenue growth and accessing the capital markets; receipt of feedback from the FDA on our thermal burn IDE, and related discussions with BARDA regarding our future contractual relationship with BARDA (and proposed BARDA funding of our thermal burn pilot trial); and our expected 2017 cash burn and reasons for the anticipated cash burn; are subject to risks and uncertainties that could cause our actual results and financial position to differ materially. Some of these risks include clinical, pre-clinical and regulatory uncertainties, such as those associated with conduct and completion of the Company-sponsored STAR trial and the proposed thermal burn trial, as well as the Company-supported, investigator-initiated ADRESU trial. Specifically, the Company faces risks in the collection and results of the STAR  and ADRESU trials, including the risks that clinical data from one or more of these clinical trials will fail to demonstrate safety or efficacy of our cellular therapeutics, and risks that insufficiently positive clinical data will adversely affect government funding, regulatory approval pathways and commercial prospects for Habeo, ECCI-50, DCCT-10 and the Company’s other potential cell therapy products. We also face risks that investigator-initiated trials using our Cytori Cell Therapy fail to fully enroll or otherwise are conducted in a manner that ultimately is injurious to our business.  We also face the risk that we will be unable to time successfully manufacture our ATI-0918 drug candidate in time to meet our projected timeline for submission of an MAA to the EMA, or at all.  We also face risks regarding execution of our managed access program (MAP) strategy in Europe, the Middle East and Africa (EMEA), including risks relating to oiurj efforts to ethically direct prospective scleroderma patients into our MAP program   Some of these risks also include risks relating to regulatory challenges the Company faces (including the U.S,, EU, China, Japan and its other key geographies) due to a number of factors including novelty of the Company’s technology and product offerings, changes in and /or evolution of regulatory approaches to cellular therapeutics like the Company’s in its key geographies, and similar matters. The Company also faces risks relating to achievement of the Company’s financial goals (including balancing capital requirements and meeting projected 2017 operating cash burn guidance). It is possible that the Company could face unexpected revenue shortfalls, expense increases or other occurrences that adversely affect our cash burn and cash management strategies.  Further the Company face risks pertaining to dependence on third party performance and approvals (including performance of investigator-initiated trials, outcome of FDA review of the Company’s proposed burn wound trial pursuant to its contract with BARDA, and outcome of the EMA’s review of our ATI-0918 MAA); performance and acceptance of the Company’s products in clinical studies/trials and in the marketplace (including commercial acceptance of the Company’s products in Japan and other markets where are products are commercially available, and similar risks); material changes in the marketplace that could adversely impact revenue projections (including changes in market perceptions of the Company’s products, and introduction of competitive products); unexpected costs and expenses that could adversely impact liquidity and shorten the Company’s current liquidity projections (which could in turn require the Company to seek additional debt or equity capital sooner than currently anticipated); the Company’s reliance on key personnel; the Company’s ability to identify and develop new programs or assets to expand the Company’s clinical pipeline; the right of the U.S. government (BARDA) to cut or terminate further support of the thermal burn injury program (including any decision by BARDA not to proceed with our proposed thermal burn trial, assuming FDA approval of the Company’s IDE submission); the Company’s abilities to capitalize on its internal restructuring and achieve break-even or profitability (or to continue to reduce our operating losses); and other risks and uncertainties described under the “Risk Factors” in Cytori’s Securities and Exchange Commission Filings, included in the Company’s annual and quarterly reports.
There may be events in the future that the Company is unable to predict, or over which it has no control, and its business, financial condition, results of operations and prospects may change in the future. The Company assumes no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made unless the Company has an obligation under U.S. Federal securities laws to do so.
  CYTORI THERAPEUTICS, INC.  CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED) (in thousands, except share and par value data)     As of December 31,   2016  2015 Assets        Current assets:        Cash and cash equivalents $12,560  $14,338 Accounts receivable, net of reserves of $167 and $797 in 2016 and 2015,  respectively  1,242   1,052 Restricted cash  350   — Inventories, net  3,725   4,298 Other current assets  870   1,555 Total current assets  18,747   21,243          Property and equipment, net  1,157   1,631 Restricted cash  —   350 Other assets  2,336   1,521 Intangibles, net  8,447   9,031 Goodwill  3,922   3,922 Total assets $34,609  $37,698 Liabilities and Stockholders’ Equity        Current liabilities:        Accounts payable and accrued expenses $5,872  $6,687 Current portion of long-term obligations, net of discount  6,629   — Joint venture purchase obligation  —   1,750 Total current liabilities  12,501   8,437          Deferred revenues  97   105 Long-term deferred rent and other  17   269 Long-term obligations, net of discount, less current portion  11,008   16,681 Total liabilities  23,623   25,492          Commitments and contingencies                 Stockholders’ equity:        Preferred stock, $0.001 par value; 5,000,000 shares  authorized; 13,500 shares issued; no shares outstanding in 2016 and 2015  —   — Common stock, $0.001 par value; 75,000,000 shares authorized; 21,707,890 and  13,003,893 shares issued and outstanding in 2016 and 2015, respectively  22   13 Additional paid-in capital  388,769   368,214 Accumulated other comprehensive income  1,258   996 Accumulated deficit  (379,063)  (357,017)Total stockholders’ equity  10,986   12,206 Total liabilities and stockholders’ equity $34,609  $37,698          
CYTORI THERAPEUTICS, INC.  CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME  (UNAUDITED) (in thousands, except share and per share data)      For the Three MonthsEnded December 31,   For the Twelve MonthsEnded December 31,     2016    2015    2016   2015              Product revenues  $1,466   $1,556   $4,656  $4,838 Cost of product revenues   945    791    2,715   3,186 Gross profit   521    765    1,941   1,652                     Development revenues:                   Government contracts and other   1,561    1,820    6,724   6,821     1,561    1,820    6,724   6,821 Operating expenses:                   Research and development   2,862    4,629    16,197   19,000 Sales and marketing   869    603    3,611   2,662 General and administrative   1,939    2,104    8,563   9,765 Change in fair value of warrant liabilities   —    (2,680)   —   (7,668)Total operating expenses   5,670    4,656    28,371   23,759 Operating loss   (3,588)   (2,071)   (19,706)  (15,286)                    Other income (expense):                   Loss on debt extinguishment   —    —    —   (260)Interest income   13    3    19   9 Interest expense   (644)   (702)   (2,592)  (3,379)Other income (loss), net   (699)   14    233   172 Total other expense   (1,330)   (685)   (2,340)  (3,458)Net loss  $(4,918)  $(2,756)  $(22,046) $(18,744)Beneficial conversion feature for                   convertible preferred stock   —    —    —   (661)Net loss allocable to common stockholders  $(4,918)  $(2,756)  $(22,046) $(19,405)                    Basic and diluted net loss per share allocable to common stockholders  $(0.24)  $(0.25)  $(1.28) $(2.07)                    Basic and diluted weighted average shares used in calculating net loss per share allocable to common stockholders   20,685,307    10,894,552    17,290,933   9,386,488                     Comprehensive loss:                   Net loss   (4,918)   (2,756)   (22,046)  (18,744)Other comprehensive income (loss) – foreign currency translation adjustments   583    (65)   262   296 Comprehensive loss  $(4,335)  $(2,821)  $(21,784) $(18,448)                 
CYTORI THERAPEUTICS, INC. CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) (in thousands)     For the Years EndedDecember 31,   2016  2015 Cash flows from operating activities:        Net loss $(22,046) $(18,744)Adjustments to reconcile net loss to net cash used in operating activities:        Depreciation and amortization  1,182   1,093 Amortization of deferred financing costs and debt discount  954   979 Joint Venture acquisition obligation accretion  24   365 Provision for doubtful accounts  —   (105)Provision for expired inventory  172   — Change in fair value of warrants  —   (7,668)Share-based compensation expense  1,080   2,041 (Gain) loss on asset disposal  (127)  8 Loss on debt extinguishment  —   260 Increases (decreases) in cash caused by changes in operating assets and liabilities:        Accounts receivable  (179)  328 Inventories  471   490 Other current assets  633   (637)Other assets  (764)  363 Accounts payable and accrued expenses  (673)  1,045 Deferred revenues  (8)  3 Long-term deferred rent  (252)  (289)Net cash used in operating activities  (19,533)  (20,468)         Cash flows from investing activities:        Purchases of property and equipment  (67)  (611)Expenditures for intellectual property  —   (13)Proceeds from sale of assets 131   11 Net cash provided by (used in) investing activities  64   (613)         Cash flows from financing activities:        Principal payments on long-term obligations  —   (25,032)Proceeds from long-term obligations  —   17,700 Debt issuance costs and loan fees  —   (1,854)Joint Venture purchase payments  (1,774)  (1,623)Proceeds from exercise of employee stock options and warrants  —   4,997 Proceeds from sale of common stock  21,467   29,054 Costs from sale of common stock  (2,084)  (2,370)Dividends paid on preferred stock  —   (75)Net cash provided by financing activities  17,609   20,797 Effect of exchange rate changes on cash and cash equivalents  82   — Net decrease in cash and cash equivalents  (1,778)  (284)Cash and cash equivalents at beginning of period  14,338   14,622 Cash and cash equivalents at end of period $12,560  $14,338            
CYTORI THERAPEUTICS CONTACT
Tiago Girao
保密意识淡薄带来的危害
+1.858.458.0900
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ir@cytori.com
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