Daily Archives: October 26, 2018

Government of Canada sets sights on transformative carbon-free energy technology in British Columbia

Investment will help create technology leading to 400 jobs and support innovation for emission-free and abundant energy

BURNABY, British Columbia, Oct. 26, 2018 (GLOBE NEWSWIRE) — In the face of global economic challenges, the Government of Canada is continuing to invest in innovative sectors such as clean technology to create well-paying middle-class jobs, grow Canada’s economy and address the world’s environmental challenges.

Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, together with the Honourable Harjit Singh Sajjan, Minister of National Defence, announced a $49.3-million investment in General Fusion, a clean technology company seeking to transform the world’s energy supply with safe, sustainable and economical fusion energy.

The funding will help General Fusion create technology leading to 400 new jobs and support its project to develop a first-of-its-kind large-scale prototype plant that will demonstrate a practical approach to commercializing affordable, abundant, safe and emission-free electricity from fusion energy. General Fusion’s technology has the potential to revolutionize how sustainable energy is generated and position British Columbia—and Canada—as a global leader in fusion technology.

Thanks in part to this federal investment through the Strategic Innovation Fund, General Fusion will expand its collaboration with post-secondary institutions and employ inclusive hiring practices as the company grows its workforce. As a result of this project, Canadians will see more intellectual property developed and retained in Canada.

Quotes

“General Fusion is working at the forefront of clean technology. It has the real potential to transform how the world generates abundant clean energy. This will help us reduce our environmental impacts. Our government is proud to invest in this innovative project to help create hundreds of middle-class jobs and position Canada as a world leader in fusion energy technology.”
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development

“Innovative companies such as General Fusion are a key part of our government’s plan to grow the economy and create well-paying middle-class jobs for British Columbians. As a leader in the development of safe, affordable and emission-free electricity, General Fusion is a testament to the kind of quality work that this region is capable of—and the quality talent that is right here in British Columbia.”
– The Honourable Harjit Singh Sajjan, Minister of National Defence

“General Fusion’s ground-breaking technology holds incredible promise in addressing climate change and revolutionizing global clean energy markets. Our government continues to support B.C. tech and innovation, and we are proud to have a world-leading company like General Fusion creating jobs in our strong and sustainable economy, because good jobs in B.C. mean a better life for people and their families.”
– The Honourable Bruce Ralston, B.C. Minister of Jobs, Trade and Technology

“This investment by Canada in General Fusion’s transformative clean energy technology is evidence of its commitment to meeting the country’s climate change goals while fostering truly sustainable growth—sustainable growth that will be powered by the disruptively competitive economics and environmentally responsible benefits of fusion energy. This Strategic Innovation Fund investment and Canada’s expectation for a financial return on this investment are a vote of confidence in General Fusion’s ability to successfully commercialize its technology and in our ability to deliver new jobs and new opportunities throughout British Columbia and across Canada. We are grateful to Canada for its long-standing support of the company, support that has helped General Fusion become the world’s most advanced private fusion technology venture.”
– Christofer Mowry, CEO, General Fusion

Quick facts

  • Fusion energy has been proven in laboratories, where closely contained fusion reactions release energy from superheated hydrogen gas, energy which can be captured and converted to electricity. Fusion results in no carbon dioxide emissions and does not produce high-level nuclear waste.
  • According to the International Atomic Energy Agency, in case of failure, fusion reactors automatically come to a halt within a few seconds, with no harmful effects being produced.
  • General Fusion will invest at least $150 million in Research and Development with the potential for over $250 million in additional investment for the construction of a demonstration plant.
  • Founded in 2002, General Fusion employs more than 70 people in Burnaby and is the only Canadian company working to commercialize fusion technology.
  • Clean technologies contributed over $26 billion, or 1.4%, to Canada’s GDP in 2016. Of this, approximately $8 billion is exported. Clean technologies also provide approximately 178,000 well-paying jobs.
  • This investment supports the Innovation and Skills Plan, the Pan-Canadian Framework on Clean Growth and Climate Change, as well as Canada’s commitments toward Mission Innovation, a global initiative of 23 countries and the European Union to dramatically accelerate global clean energy innovation.
  • General Fusion is one of hundreds of companies that the Clean Growth Hub has worked with to advance clean technology projects in Canada. The Hub’s team of experts from across government helps companies and researchers involved in clean technology projects identify the federal programs and supports most relevant to their needs.

About General Fusion

General Fusion is pursuing the fastest and most practical path to commercial fusion energy, and is based in Vancouver, BC, Canada and Washington, DC, USA. The company was established in 2002 and is funded by a global syndicate of leading energy venture capital firms, industry leaders, and technology pioneers, including: Chrysalix Energy Venture Capital, Bezos Expeditions, Khazanah Nasional Berhad, Cenovus Energy, Growthworks, Braemar Energy Ventures, BDC, Entrepreneurs Fund, SET Ventures, Sustainable Development Technology Canada, and The Strategic Innovation Fund. Learn more at www.generalfusion.com.

For more information:

Paul Sullivan
Office: +1 604 685 4742
Mobile: +1 604 603 7358
paul.sullivan@generalfusion.com

Media contact:

Nilani Logeswaran
A/Press Secretary
Office of the Minister of Innovation, Science and Economic Development
613-668-1794

Media Relations
Innovation, Science and Economic Development Canada
343-291-1777
ic.mediarelations-mediasrelations.ic@canada.ca
Strategic Innovation Fund

Follow Innovation, Science and Economic Development Canada on Twitter: @ISED_CA

Follow General Fusion

generalfusion.com

twitter.com/generalfusion

instagram.com/generalfusion

linkedin.com/company/general-fusion

facebook.com/generalfusion

SPG Law launches Group Action against Cathay Pacific following massive global data breach

LIVERPOOL, United Kingdom, Oct. 26, 2018 (GLOBE NEWSWIRE) — SPG Law has today announced that it will be launching a Group Action against Cathay Pacific following the airline’s announcement on Wednesday October 24th that 9.4 million customers’ personal data was compromised in one of the global travel industry’s most serious data breaches ever.

SPG Law will launch the Group Action following Cathay Pacific’s failure to offer financial compensation to individuals affected by the data breach for the inconvenience, distress and misuse of their personal information. Consumers around the world will be able to sign up to this claim, which will be brought in the High Court in London.

Cathay Pacific has admitted that it discovered suspicious activity on its network in March 2018 and, by early May 2018, the airline knew that unauthorised access to the personal data of millions of its customers had taken place.

To-date, Cathay Pacific has not offered to compensate individuals for direct financial losses or agreed to pay compensation for non-material damage despite being liable to do so for European customers under the General Data Protection Regulation (“GDPR”) that came into force in May 2018.

SPG Law Partner Tom Goodhead commented that: “It is shocking that it took Cathay Pacific nearly 6 months to admit this catastrophic data breach. The fact that passport numbers, historical travel information and other sensitive personal data was compromised has caused serious inconvenience and distress to millions of people around the world. Cathay Pacific is liable to compensate European claimants for non-material damage. GDPR and SPG Law will hold them to account.”

SPG Law estimates that each affected person may be able to claim up to GBP £1,800/USD $2,300 in compensation against Cathay Pacific and in some instances even more depending on the individual circumstances. SPG Law believes that a significant aggravating factor in this case will be the sensitive nature and extent of the personal data that was compromised.

Notes to editors:

  1. For further information, please visit www.spglaw.co.uk and www.cathaydatabreach.com .
  2. Cathay Pacific admitted on 24th October 2018 that the personal data of 9.4 million people has been compromised including: passenger name; nationality; date of birth; phone number; email; address; passport number; identity card number; frequent flyer programme membership number; customer service remarks; and historical travel information.
  3. SPG Law is a unique partnership of top UK and US lawyers who all have expertise in group litigation related to consumer, pharmaceutical and environmental cases. SPG Law opened offices in Liverpool and London in September 2018.
  4. SPG Law is already pursuing a group claim in the UK against British Airways and the German carmaker VW for misleading customers over its emissions figures.
  5. Press enquiries and interview requests:
    (e) spg@pagefieldglobalcounsel.com              (t) +44 (0)203 143 3595

Williams Scotsman to Announce Third Quarter 2018 Results on November 8, 2018

BALTIMORE, Oct. 26, 2018 (GLOBE NEWSWIRE) — WillScot Corporation (NASDAQ: WSC) (“Williams Scotsman”) today announced that it will release its third quarter 2018 financial results on Thursday, November 8, 2018 after the markets close.

President and Chief Executive Officer, Bradley Soultz, and Chief Financial Officer, Timothy Boswell will host a conference call and webcast on Friday, November 9, 2018 at 10:00 a.m. EST to discuss the results for the third quarter.

The live call can be accessed by dialing (855) 312-9420 (US/Canada toll-free) or (210) 874-7774 (International). A live webcast will also be accessible via the “Events & Presentations” section of the Company’s Investor Relations website https://investors.willscot.com. An archived version of the webcast will be available for 60 days following the call.

About WillScot Corporation

Headquartered in Baltimore, Maryland, WillScot Corporation is the public holding company for the Williams Scotsman family of companies in the United States, Canada and Mexico. WillScot Corporation trades on the NASDAQ stock exchange under the ticker symbol “WSC.” Williams Scotsman is the specialty rental services market leader providing innovative modular space and portable storage solutions across North America. It is the modular space supplier of choice for the construction, education, health care, government, retail, commercial, transportation, security and energy sectors. With over half a century of innovative history, organic growth and strategic acquisitions, its fleet comprises nearly 160,000 modular space and portable storage units managed through its network of over 120 locations.

Additional Information and Where to Find It

Additional information about Williams Scotsman can be found on the Williams Scotsman investor relations website at https://investors.willscot.com.

Contact Information

Investor Inquiries:

Mark Barbalato
investors@willscot.com

Media Inquiries:

Scott Junk
scott.junk@willscot.com

Neuralstem Announces $2.1 Million Registered Direct Offering

GERMANTOWN, Md., Oct. 26, 2018 (GLOBE NEWSWIRE) — Neuralstem, Inc. (Nasdaq:CUR), a biopharmaceutical company focused on developing novel treatments for nervous system diseases, today announced that it has entered into definitive agreements with institutional investors for the purchase of 3,000,000 shares of its common stock, at a purchase price per share of $0.70, in a registered direct offering. Additionally, Neuralstem has also agreed to issue to the investors unregistered warrants to purchase up to 3,000,000 shares of its common stock. The closing of the offering is expected to take place on or about October 29, 2018, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The warrants have an exercise price of $0.75 per share of common stock, will be exercisable commencing six months following the issuance date and will expire five and one-half years from the issuance date.

The gross proceeds to Neuralstem, before deducting placement agent fees and other offering expenses, are expected to be $2.1 million. Neuralstem intends to use the net proceeds from this offering to further its clinical and preclinical programs, and for general working capital.

The shares of common stock (but not the warrants or the shares of common stock underlying the warrants) are being offered by Neuralstem pursuant to a “shelf” registration statement on Form S-3 that was filed and declared effective by the Securities and Exchange Commission (“SEC”) on June 23, 2017 and the base prospectus contained therein (File No. 333-218608). The offering of the shares of common stock will be made only by means of a prospectus supplement and accompanying base prospectus that form a part of the registration statement.

A final prospectus supplement and accompanying base prospectus relating to the shares of common stock being offered will be filed with the SEC.  Copies of the final prospectus supplement and accompanying base prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, New York 10022, by phone at 646-975-6996 or e-mail at placements@hcwco.com.

The warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Neuralstem
Neuralstem is a clinical-stage biopharmaceutical company developing novel treatments for nervous system diseases of high unmet medical need. The Company has two lead development candidates:

  • NSI-566 is a neural stem cell therapy in clinical development for treatment of paralysis in stroke, for Amyotrophic Lateral Sclerosis (ALS) and for chronic spinal cord injury (cSCI).
  • NSI-189 is a small molecule in clinical development for major depressive disorder (MDD) and in preclinical development for Angelman syndrome, irradiation-induced cognitive impairment, Type 1 and Type 2 diabetes, and stroke.

Neuralstem’s diversified portfolio of product candidates is based on its proprietary neural stem cell technology.

Cautionary Statement Regarding Forward Looking Information
This news release contains “forward-looking statements” made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to future, not past, events and may often be identified by words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Specific risks and uncertainties that could cause our actual results to differ materially from those expressed in our forward-looking statements include risks inherent in the development and commercialization of potential products, uncertainty of clinical trial results or regulatory approvals or clearances, need for future capital, dependence upon collaborators and maintenance of our intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements. Additional information on potential factors that could affect our results and other risks and uncertainties are detailed from time to time in Neuralstem’s periodic reports, including its Annual Report on Form 10-K for the year ended December 31, 2017, and its Quarterly Report on Form 10-Q for the three and six months ended June 30, 2018 , filed with the Securities and Exchange Commission (SEC), and in other reports filed with the SEC. We do not assume any obligation to update any forward-looking statements.

Contact:
Argot Partners (Investor Relations)
212-600-1902
neuralstem@argotpartners.com