CALGARY, Alberta, June 22, 2017 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT Energy” or the “Company”) (TSX:SFD) (OTCQB:NSFDF) advises of the voting results for the election of its Board of Directors (the “Board”) at its annual and special meeting of shareholders (the “AGM”) which was held on June 21, 2017.

AGM Voting Results

Each of the five nominees proposed in the NXT Information Circular – Proxy Statement were elected as directors.  A total of 37,933,483 common shares (“Common Shares”) of the Company, representing approximately 70.43% of the outstanding Common Shares, were represented in person or by proxy at the AGM.  Detailed results of the vote are as follows:

These results reflect the votes of certain shareholders that gave rise to a significantly lower percentage of votes “For” Mr. Selby.  Upon receipt of these results, Mr. Selby met with a representative of these shareholders to review the matter.  The representative subsequently advised the Company that the aforementioned shareholders are now satisfied and fully support Mr. Selby as Lead Director of the Company.

In addition, the motions to approve the re-appointment of KPMG LLP as the Company’s auditors, the motion to adopt a Majority Voting Policy and the motion to approve NXT Energy’s Restricted Share Unit Plan were carried at the AGM. 

NXT Energy is a Calgary based company whose proprietary Stress Field Detection (“SFD^®“) survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method which can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs.  The SFD^® survey system enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential.  SFD^® is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc.  NXT Energy provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration.                                                  

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) nor the OTC QB Markets accept responsibility for the adequacy or accuracy of this release.

CONTACT: For further information, please contact:

Bev Stewart	
V-P Finance & CFO	
NXT Energy Solutions Inc.
403-206-0807	
nxt_info@nxtenergy.com
www.nxtenergy.com

Kin Communications
Investor Relations
1-866-684-6730 / 604-684-6730
sfd@kincommunications.com

HOLLAND LANDING, Ontario, June 23, 2017 (GLOBE NEWSWIRE) — Inscape (TSX: INQ), a leading designer and manufacturer of furnishings for the workplace, today announced its fourth quarter and annual financial results ended April 30, 2017.

Sales in the fourth quarter were 2.7% higher than the same quarter of last year. Benefits from the growth in the furniture segment and more favorable U.S. currency hedges were reduced by a decrease in the quarterly sales of the Walls segment and overall lower realized selling price. On a normalized U.S. exchange and realized selling price basis, sales in the current quarter of fiscal 2017 were about the same as the fourth quarter of last year. Sales in the Company’s fourth quarter are normally lower than other quarters due to slowdown of sales orders during the holidays and reduced number of working days compared to the first three quarters.

The fiscal 2017 annual sales of $95.3 million were 19.3% higher than the previous year’s $79.8 million. The increase of $15.4 million included $8.5 million U.S. exchange due to improved U.S. currency hedge rates. Both furniture and Walls segments recorded increase in sales.  On a normalized U.S. exchange and realized selling price basis, fiscal 2017 sales were up by 12.1%.

“We are very pleased with our continued progress in our strategic growth plan,” said Brian Mirsky, CEO.“As we enter our new fiscal year, our focus will be on operational execution to support our sales, marketing and product development efforts.”

The fourth quarter net loss of $2.1 million is below net income of $5.4 million in the same quarter of last year. The current quarter’s net loss included an unrealized derivative loss of $1.9 million, versus a gain of $7.5 million in the same quarter of last year relating to the change in the fair market value of outstanding U.S. currency hedge contracts. With the exclusion of the unrealized derivative loss/gain and other unusual items, the current quarter had an adjusted loss of $0.9 million compared with an adjusted loss of $1.3 million in the same quarter of last year; an improvement of $0.4 million. The improvement was mainly a result of higher U.S. currency hedge rates and lower SG&A.

Fiscal year 2017 ended with a net loss of $0.2 million, compared to a net loss of $1.3 million in fiscal year 2016. Similar to the quarterly results, both reporting periods had several unusual items that had very significant impact on the net loss. With the exclusion of these unusual items, current year adjusted net income was $3.3 million, compared with last year’s adjusted net loss of $5.0 million, an improvement of $8.3 million. The substantial increase in the year-over-year net income was attributable to favorable U.S. currency hedge rates, higher sales volume, lower fixed SG&A, partially offset by lower realized selling prices and higher raw material costs.

The adjusted income or loss is a non-GAAP measure, which does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other issuers.

The following is a reconciliation of net income and loss calculated in accordance with GAAP to the non-GAAP measure:

The fourth quarter gross profit as a percentage of sales of 26.5% was 1.1 percentage points higher than the same quarter of last year.  The cost of goods sold of the current quarter included a write down of obsolete and slow moving inventory of $0.3 million, or 1.5% of sales. In the prior year quarter, the cost of goods sold included a restructuring cost of $0.3 million, or 1.4% of sales.  The year-over-year increase of 1.1 percentage points in gross profit percentage was the result of gains from U.S. currency hedge rates partially offset by higher raw material costs, lower realized selling prices and the inventory write down.

Fiscal year 2017 gross profit as a percentage of sales increased 5.2 percentage points from last year’s 24.8% to the current year’s 30.0%. The cost of goods sold of the current quarter included a write down of obsolete and slow moving inventory of $0.4 million, or 0.4% of sales; and the $0.3 million restructuring cost in the previous year also represents 0.4% of fiscal 2016 sales. More favorable U.S. currency hedge rates and higher volumes in both Furniture and Walls segment were the main source of the gross profit improvement, which was reduced by lower realized selling prices and higher raw material costs.

SG&A for the quarter was 28.5% of sales, compared with last year’s 33.5%. The current quarter SG&A of $6.0 million was $0.8 million lower than the same quarter of last year, of which $0.5 million was due to a reduction in the market value of share-based compensation during the quarter when the Company share price moved down from $5.24 at the beginning of the quarter to $4.05 at the end of the quarter. The remaining $0.3 million decrease in SG&A consists mainly of lower salaries, benefits and year-end bonus adjustments.

SG&A for the year was 27.6% of sales versus 32.8% last year. The SG&A expense of $26.3 million was $0.2 million or 0.6% higher than last year, consisting of $0.6 million variable SG&A relating to higher sales volume, offset by decrease of $0.4 million in fixed SG&A. Last year’s higher fixed SG&A was mainly caused by a one-time settlement loss on the wind-up of one of the Company’s defined benefit pension plans and investment in West Elm Workspace with Inscape start-up costs.

At the previous fiscal year ended April 30, 2016, the Company recorded a valuation allowance of $7.0 million to derecognize the future income tax benefit of loss carry forwards as deferred tax assets. For the twelve-month period ended April 30, 2017, $0.9 million of the valuation allowance was utilized to reduce the Company’s income tax expense.

At the end of the fiscal year, the company was debt-free and had cash, cash equivalents and short-term investments totaling $11.5 million and an unused credit facility.

Fourth Quarter Call Details
Inscape will host a conference call at 8:30 AM EST on Friday, June 23, 2017 to discuss the company’s quarterly results. To participate, please call 1-800-920-2997 five minutes before the start time. A replay of the conference call will also be available from June 23, 2017 after 10:30 AM EST until 11:59 PM EST on June 30, 2017. To access the rebroadcast, please dial 1-800-558-5253 (Reservation Number 21852095).

Forward-looking Statements
Certain of the above statements are forward-looking statements that involve risks and uncertainties. Actual results could differ materially as a result of many factors including, but not limited to, further changes in market conditions and changes or delays in anticipated product demand. In addition, future results may also differ materially as a result of many factors, including: fluctuations in the company’s operating results due to product demand arising from competitive and general economic and business conditions in North America; length of sales cycles; significant fluctuations in international exchange rates, particularly the U.S. dollar exchange rate; restrictions in access to the U.S. market; changes in the company’s markets, including technology changes and competitive new product introductions; pricing pressures; dependence on key personnel; and other factors set forth in the company’s Ontario Securities Commission reports and filings.

About Inscape
Inscape has supported the evolution of the workspace since 1888. A versatile portfolio of systems, storage, walls and seating products addresses the diverse needs of today’s office with solutions that stand the test of time – built to last and inherently flexible. Dedicated to delivering innovative solutions with care and expertise, Inscape is here to help you make life at work better.

For more information, visit www.inscapesolutions.com.

Inscape Corporation
Notes to the Condensed Interim Consolidated Financial Statements                                       
Unaudited (in thousands except share and per share amounts)

1. General information

Inscape Corporation (the “Company”) is a limited company incorporated in Ontario, Canada, with Class B common shares listed on the Toronto Stock Exchange (TMX). The Company’s registered office is 67 Toll Road, Holland Landing, Ontario, Canada.

The Company is an office furniture manufacturer with production at two facilities in Canada and the United States in approximately 438,000 square feet of space. Inscape serves its customers through a network of authorized dealers.

2. Statement of compliance

These condensed interim consolidated financial statements are prepared in accordance with International Financial Accounting Standard (‘IAS’) 34 – Interim Financial Reporting.

These financial statements follow the same accounting policies as were used for the consolidated financial statements for the year ended April 30, 2017.

These financial statements were approved and authorized for issuance by the Board of Directors of the Company on June 22, 2017.

3. Critical accounting judgments and key sources of estimation uncertainty

In the application of the Company’s accounting policies, management is required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

3.1 Critical estimates and judgments in applying accounting policies

The following are the critical estimates and judgments that the management has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognized in the financial statements.

Critical judgments:

Allowance for doubtful accounts is based on management’s judgment and review of any known exposures, customer creditworthiness, and collection experience.

Reserve for inventory is based on the aging of inventory and management’s judgment of product life cycles in identifying obsolete items.

Identification of cash generating units for the purposes of performing impairment test of assets is based on management’s judgment of what constitutes the lowest group of assets that can generate cash flows largely independent of other assets.

Determination of the functional currency of the Company’s various reporting entities is based on management’s judgment of the currency environment of each entity.

Critical estimates:

Estimated useful lives and residual values of intangible assets, property, plant and equipment are based on management’s experience, the intended usage of the assets and the expected technological advancement that may affect the life cycle and residual values of the assets.

Defined benefit pension obligations are based on management’s best estimates on the long-term investment return on pension fund assets, the discount rate of obligations, mortality and the future rate of salary increase.

Liability for the Company’s performance share units is based on management’s best estimates on the Company’s financial performance during the vesting period of the performance share units.

Cash flow projections of the Company’s cash generating units for the purposes of performing an impairment test of assets are based on the Company’s best estimate of the range of business and economic conditions.

The Company computes an income tax provision in each of the jurisdictions in which it operates. Actual amounts of income tax expense are finalized upon filing and acceptance of the tax return by the relevant authorities, which occur subsequent to the issuance of the financial statements. The estimation of income taxes includes evaluating the recoverability of deferred tax assets based on an assessment of the ability to use the underlying future tax deductions before they expire against future taxable income. The assessment is based upon existing tax laws and estimates of future taxable income. To the extent estimates differ from the final tax returns; net earnings would be affected in a subsequent period.

The Company is subject to taxation in numerous jurisdictions. There are many transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. The Company maintains provisions for uncertain tax positions that it believes appropriately reflect its risk with respect to tax matters under active discussion, audit, dispute or appeal with tax authorities, or which are otherwise considered to involve uncertainty. These provisions are made using the best estimate of the amount expected to be paid based on a qualitative assessment of all relevant factors. The Company reviews the adequacy of these provisions at the end of the reporting period. It is possible that at some future date an additional liability could result from audits by taxing authorities. Where the final outcome of these tax-related matters is different from the amounts that were initially recorded, such differences will affect the tax provision in the period in which such determination is made.

4. Future Accounting Policy Changes
The following new standards, amendments, and interpretations that have been issued are expected to impact the Company, but are not effective for the fiscal year ending April 30, 2017, and accordingly, have not been applied in preparing the interim financial statements.  The Company is currently evaluating the impact of the adoption of these standards on its consolidated financial statements.

IFRS 2 Share-based Payments:
In June 2016, the IASB issued amendments to IFRS 2 Share-based Payment, clarifying how to account for the effects of vesting and non-vesting conditions on the measurement of cash-settled share-based payments, share-based payment transactions with a net settlement feature, and a modification to the terms and conditions that changes the classification of the transactions.  These amendments are effective for annual periods beginning on or after January 1, 2018, and though permitted, have not been adopted early.

IFRS 9 Financial Instruments:
In July 2014, the IASB issued the final version of IFRS 9 Financial Instruments, which united the various phases of the IASB’s project to replace IAS 39 Financial Instruments:  Recognition and Measurement as follows:

Classification and measurement – Financial assets are classified and measured based on the business model under which they are managed and the contractual cash flow characteristics of the financial assets.  Financial liabilities are classified in a similar manner as under IAS 39, except that financial liabilities measured at fair value will have fair value changes resulting from changes in the entity’s own credit risk recognized in Other Comprehensive Income instead of Net Income, unless this would create an accounting mismatch.

Impairment – The measurement of impairment of financial assets is based on an expected credit loss model.  It is no longer necessary for a triggering event to have occurred before credit losses are recognized.  IFRS 9 also includes new disclosure requirements for expected credit losses and credit risk.

Hedge accounting – The new general hedge accounting model more closely aligns hedge accounting with risk management activities undertaken by entities when hedging their financial and non-financial risk exposures.  It will provide more opportunities to apply hedge accounting to reflect actual risk management activities.

The standard also provides relief from the requirement to restate comparative financial statements for the effect of applying IFRS 9.  The standard is effective for reporting periods beginning on or after January 1, 2018, and though permitted, have not been adopted early.

IFRS 15 Revenue from Contracts with Customers:
In May 2014, the IASB issued IFRS 15 Revenue from Contracts with Customers, which establishes principles for reporting the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers.  It outlines a single comprehensive model on the core principle that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which an entity expects to be entitled in exchange for those goods and services.  IFRS 15 also contains enhanced disclosure requirements on the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers.  IFRS 15 is effective for annual periods beginning on or after January 1, 2018, and though permitted, has not been adopted early.

In April 2016, the IASB published clarifications to IFRS 15 which address three topics (identifying performance obligations, principal versus agent considerations, and licensing) and provide some transition relief for modified contracts and completed contracts.  The amendments are effective for annual periods beginning on or after January 1, 2018, and though permitted, have not been adopted early.

IFRS 16 Leases:
In January 2016, the IASB issued IFRS 16 Leases, specifying the recognition, measurement, presentation and disclosure requirements of leases.  The standard provides a single lessee accounting model, requiring lessees to recognize assets and liabilities for all leases unless the lease term is 12 months or less or the underlying asset has a low value.  Lessors continue to classify leases as operating or finance, with IFRS 16’s approach to lessor accounting substantially unchanged from its predecessor, IAS 17.  IFRS 16 is effective for annual reporting periods beginning on or after January 1, 2019, and though permitted, has not been adopted early.

5. Segment information

The Company’s revenue from continuing operations from customers by geographical location are detailed below.

The following is an analysis of the Company’s revenue and results from continuing operations by reportable segments, which are identified on the basis of internal reports about components of the Company that are regularly reviewed by the management in order to allocate resources to the segments and to assess their performance.

In determining the reportable segments, the Company takes into consideration the nature of the various products and services to see if their economic characteristics are similar, geographical areas, and the methods used to distribute the products and services.

Based on these factors, the Company concluded that there are three reportable segments in terms of geographical areas, namely U.S., Canada and other areas mainly due to differences in the currencies and the potential market size between U.S. and Canada, whereas the Company’s sales in other geographical areas are relatively low.

Based on the nature of products and services, the Company concluded that there are two reportable segments in terms of products, namely Furniture and Walls. Aggregated in the Furniture segment are Systems, Benching, Storage and Seating, including such products sold by Inscape as well as West Elm Workspace with Inscape. The aggregation is based on the similarity in those products’ functionalities, production or procurement process and method of distribution. Walls is a separate segment on its own due to the different nature of movable walls comparing to furniture, the production process and the installation services involved in the selling of movable walls.

Segment income or loss represents the income earned or loss incurred by each segment without allocation of unrealized foreign exchange and derivative gains and losses, investment income and income tax expense. This is the measure reported to the management for the purposes of resource allocation and assessment of segment performance.

6. Earnings per share

The earnings and weighted average number of shares used in the calculation of basic and diluted earnings per share are as follows:

Stock options are anti-dilutive and are therefore, not included in the computation of basic and diluted earnings per share for the three-month period ended April 30, 2017, the years ended April 30, 2017 and April 30, 2016.

7. Inventories

The cost of inventories recognized as cost of goods sold was $15,090 (2016 – $14,049) for the three-month period and $63,650 (2016 – $55,096) for the twelve-month period ended April 30, 2017.

The Company recorded an inventory write-down of $338 (2016 – $4) during the three-month period and $512 (2016 – $87) during the twelve-month period ended April 30, 2017.

8. Financial instruments

8.1 Capital risk management

The Company’s objectives when managing capital are to safeguard the entity’s ability to continue as a going concern, so that it can provide returns for shareholders and benefits for other stakeholders through growth in earnings.

Management defines capital as the Company’s total capital and reserves excluding accumulated other comprehensive income (loss) as summarized in the following table:

The Company manages its capital structure and makes modifications in response to changes in economic conditions and the risks associated with the underlying strategic initiatives. In order to maintain or adjust the capital structure, the Company may return capital to shareholders, or draw on its line of credit.

8.2 Foreign currency risk management

The Company’s activities expose it primarily to the financial risks of changes in the U.S. dollar exchange rates. The Company enters into a variety of derivative financial instruments to hedge the exchange rate risk arising on the anticipated sales of office furniture to the U.S. The use of financial derivatives is governed by the Company’s policies approved by the Board of Directors. Compliance with policies and exposure limits is reviewed by the Board on a regular basis. The Company does not enter into or trade financial instruments, including derivative financial instruments, for speculative purposes.

As at April 30, 2017, the Company had outstanding U.S. dollar hedge contracts with settlement dates from May 2017 to April 2019. The total notional amounts under the contracts are U.S $48,000 to $60,000 (2016 – $46,200 to $57,750). Dependent on the spot CAD/USD rate on each settlement date, the Company can sell U.S. dollars at rates ranging from $1.25 CAD/USD to $1.45 CAD/USD (2016 – $1.25 CAD/USD to $1.40 CAD/USD). These contracts had a mark-to-market unrealized loss of $2,217 (U.S. $1,624) as at April 30, 2017 (2016 – unrealized gain of $706 or U.S. $563), which was recognized on the consolidated statement of financial position as derivative liabilities. Any changes in the net gain or loss from the prior reporting period due to addition of forward contracts, movements in the U.S. currency exchange rate, reclassification of the unrealized gains or losses to realized income or loss are recognized on the consolidated statement of operations as unrealized gain or loss on derivatives of the year.

The following reconciles the changes in the fair value of the derivatives at the beginning and the end of the period:

Foreign currency sensitivity analysis

Based on the existing average U.S. currency hedge contract rates and the mix of U.S. dollar denominated sales and expenses for the twelve-month period ended April 30, 2017, a 5% change in the Canadian dollar against the U.S. dollar would have an impact of approximately $307 on the Company’s pre-tax earnings (2016 – $511). 

8.3 Interest rate risk management

The Company’s cash equivalents and short-term investments are subject to the risk that interest income will fluctuate because of changes in market interest rates. The Company manages the interest rate risk by investing in highly liquid financial instruments with staggered maturity dates. For the twelve-month period ended April 30, 2017, each 100 basis point variation in the market interest rate is estimated to result in a change of $40 in the Company’s investment income (2016 – $55).

8.4 Credit risk management

The Company’s cash and cash equivalents, short-term investments, trade accounts receivable and derivative assets are subject to the risk that the counter-parties may fail to discharge their obligation to pay the Company. The Company’s investment policy specifies the types of permissible investments, the minimum credit ratings required and the maximum balances allowed. The purchase of any securities carrying a credit rating below BBB for bonds or R1-Low for commercial paper is prohibited. Management reports to the Board of Directors quarterly the Company’s investment portfolios to demonstrate their compliance with the investment policy. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The Company has credit policies and procedures to manage trade accounts receivable credit risk by assessing new customers’ credit history, reviewing of credit limits, monitoring aging of accounts receivable and establishing an allowance for doubtful accounts based on specific customer information and general historical trends. Trade receivables consist of a large number of customers, spread across diverse industries and geographical areas. Ongoing credit evaluation is performed on the financial condition of accounts receivable. As at April 30, 2017, the allowance for doubtful accounts was $624 (April 30, 2016 – $609).

8.5 Liquidity risk management

Liquidity risk is the risk that the Company will encounter difficulty in meeting obligations associated with financial liabilities.

The Company is debt-free and has access to financing facilities which were unused at the end of the reporting period (2016: unused). The Company expects to meet its other obligations from operating cash flows and proceeds of maturing financial assets.

8.6 Fair value hierarchy

The following table provides an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 based on the degree to which the fair value is observable.

• Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active markets for identical assets or liabilities.
   
• Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).
   
• Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs).    

There were no transfers between Level 1, 2 and 3 in the periods.

9. Other long-term obligations

Other long-term obligations are comprised of the fair value of the Company’s stock-based compensation liabilities.

10. Related party transactions

Compensation of key management personnel

The following was the remuneration of directors and other members of key management personnel, including Chief Executive Officer, Chief Financial Officer, President of West Elm Workspace with Inscape Division, Senior VP Sales, VP Operations, VP Product Development and VP Human Resources. Compensation of the Chief Executive Officer and two directors are paid through companies they control.

During the year, the Company incurred expenses of $56 for the three-month period (2016 – $92) and $166 (2016 – $377) for the twelve month period to a related party for goods and services associated with the Company’s strategic initiatives.  The entity is deemed a related party because the President of West Elm Workspace with Inscape Division is a shareholder of that entity.

11. Income taxes

At the previous fiscal year ended April 30, 2016 the Company recorded a valuation allowance of $6,987 to derecognize the future income tax benefit of loss carryforwards as deferred tax assets. For the twelve-month period ended April 30, 2017, $927 of the $6,987 valuation allowance was utilized to reduce the Company’s income tax expense.

12. Contingent liability

In the ordinary course of business, the Company may be contingently liable for litigation and claims with customers, suppliers and former employees. On an ongoing basis, the Company assesses the likelihood of any adverse judgments or outcomes to these matters as well as potential ranges of probable costs and losses and a determination of the provision required, if any, for these contingencies is made after analysis of each individual issue. There are no material contingent liabilities as at April 30, 2017 (April 30, 2016 – nil).

CONTACT: Contact

Aziz Hirji, CPA, CA
Chief Financial Officer 
Inscape

T 905 836 7676 x 3351  
ahirji@inscapesolutions.com

VANCOUVER, British Columbia, June 23, 2017 (GLOBE NEWSWIRE) — MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (FKT:1MG) (OTC:MGXMF) is pleased to announce the appointment of Patrick Avery as Director of Petrolithium Business Development in Utah and Colorado. Mr. Avery will lead the Company’s North American subsidiary, Petrolithium Corporation of America, in developing its assets. The primary focus will be in permitting, infrastructure and logistics.

“We are pleased to have Pat Avery join our growing team,” said Marc Bruner Chairman of MGX Minerals. “His expertise will be a great asset as we continue to build our industry-first petrolithium fields in Utah and focus on operationalizing our water purification and mineral extraction technology with our oil and gas partners.” Additionally, he will be responsible for coordinating communication activities with various government and non-government stakeholder agencies.

Mr. Avery brings nearly 25 years of experience, having served in a wide range of roles and capacities in the mining, oil and gas, and agriculture industries. Mr. Avery has overseen refinery expansions in addition to completing oil and gas midstream work for major oil and gas companies. Mr. Avery also spent time at Intrepid Potash, located in close proximity to MGX’s Utah Petrolithium Project, where he oversaw the management of more than $200 million in engineering, environmental and compliance programs. As part of his role, he was responsible for revamping several potash processing facilities and navigating through complex permitting processes with numerous regulatory agencies. Prior to this, Mr. Avery held the role as Vice President of Santa Fe Pacific Pipelines, where he oversaw construction of a large project containing more than 3,300 miles of pipeline and 26 petroleum products terminal systems. He also has vast experience managing environmental affairs, ranging from wastewater management to compliance and safety, with an emphasis on water balance, re-use pollution prevention, air emissions and potable water distribution.

About MGX Minerals

MGX Minerals is a diversified Canadian resource company with interests in petrolithium, magnesium and silicon assets throughout North America. Learn more at www.mgxminerals.com.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains forward-looking information or forward-looking statements including the completion of the rights offering (collectively “forward-looking information”) within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “potentially” and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Company’s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company’s profile on SEDAR at www.sedar.com.

CONTACT: Contact Information
Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: www.mgxminerals.com

CALGARY, Alberta, June 23, 2017 (GLOBE NEWSWIRE) — International Frontier Resources Corporation (“IFR” or the “Company”) (TSX-V:IFR) (OTCQB:IFRTF) today announced that the Mexican energy regulator, the National Hydrocarbons Commission (CNH), has approved Tonalli Energia’s evaluation plan for Block 24 Tecolutla, which was part of the historic Round 1.3 tender process in Mexico’s energy reform. The evaluation plan outlines in detail the scheduled work program to develop Tecoluta.

“After many months of effort by our Mexican and Canadian team, we are pleased to achieve this major milestone,” said Steve Hanson, President and CEO of IFR. “We now await final approval of our drilling permit and have a clear path to spudding our first well and performing workovers.”

IFR was one of the first foreign companies to participate in the historic reform of Mexico’s oil and gas sector. Tecolutla was acquired through a 50-50 joint venture with Mexican petrochemical leader Grupo IDESA in last year’s onshore block auction.  Tonalli Energia assumed operatorship of the Tecolutla block from state-owned PEMEX.

ABOUT INTERNATIONAL FRONTIER RESOURCES

International Frontier Resources Corporation (IFR) is a Canadian publicly traded company with a demonstrated track record of advancing oil and gas projects. Through its Mexican subsidiary, Petro Frontera S.A.P.I de CV (Frontera) and strategic joint ventures, it is advancing the development of petroleum and natural gas assets in Mexico.

The Company’s shares are listed on the TSX Venture, trading under the symbol IFR, and on the OTCQB under the symbol IFRTF. For additional information please visit www.internationalfrontier.com.                                                                                       

“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility or accuracy of this release”. The Company seeks Safe Harbor.

CONTACT: FOR FURTHER INFORMATION

Steve Hanson – President and CEO   
(403) 618-7346 				
shanson@internationalfrontier.com	

or 

Tony Kinnon – Chairman               
(403) 607-6591
tkinnon@internationalfrontier.com

VANCOUVER, British Columbia, June 23, 2017 (GLOBE NEWSWIRE) — Alianza Minerals Ltd. (TSX-V:ANZ) (“Alianza” or the “Company”) has acquired new ground, by staking additional BLM Iode mining claims at the Company’s BP gold property, located 41 km (25 miles) northwest of the Bald Mountain Mine, Nevada. With the addition of the new claims, the property is now 1,149 hectares (2,840 acres) in size. Forty-eight (48) claims were added to cover prospective geology and anomalous multi-element pathfinder geochemistry.

Jason Weber, President and CEO of Alianza Minerals commented, “The southern extension of the Carlin Trend is emerging as an important region for sediment hosted gold exploration and BP is a key project for Alianza in this district. Recent work identified areas of anomalous geochemistry associated with new jasperoid occurrences and favourable structure that we have highlighted for follow up work. It was important that we extended our claim position to cover these areas.”

The BP property is a sediment-hosted gold target located in Elko County, 57 km south of Carlin. The property has had little previous gold exploration prior to a reconnaissance program in 2010 that identified gold-bearing jasperoid and anomalous gold and pathfinder geochemistry on surface. A 2016 field program identified potential structural conduits for mineralizing fluid flow as evidenced by anomalous pathfinder geochemistry and the presence of barite, clay alteration and limonite staining near the projected intersections of prominent structures.

Additional evidence of favourable structural setting is seen in the eastern portion of the property where repetition of the stratigraphy suggests a series of northeast trending structures. New jasperoid occurrences, elevated in gold and pathfinder geochemistry, were identified along the aforementioned structures in proximity to the projected intersection with northwest trending graben structures. Three areas have been identified for follow up in subsequent programs. Additional mapping, prospecting, soil and rock sampling and geophysical surveys are under consideration for 2017.

BP was acquired in 2013 as part of a package of properties from Almaden Minerals (TSX:AMM). Management is actively seeking a partner to advance BP, as well as its Bellview Property (13 km north of the Bald Mountain Mine), on the southern extension of the Carlin Trend.

About Alianza Minerals Ltd.

Alianza increases the chances of success in mineral exploration by using the “Prospect Generator” business model, focussing on gold and copper exploration in Latin America and Nevada.

The Company has 33.3 million shares issued and outstanding, and is listed on the TSX Venture Exchange (TSX-V:ANZ).  Mr. Jason Weber, BSc, P.Geo., Alianza’s President and CEO is a Qualified Person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.

For further information, contact:

Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications

Tel:  (604) 687-3520  
Fax: (888) 889-4874  

To learn more visit: www.alianzaminerals.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Statements in this NEWS release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements. 

OTTAWA, June 23, 2017 (GLOBE NEWSWIRE) — Orezone Gold Corporation (TSXV:ORE) is pleased to announce that all of the resolutions were passed at the annual and special meeting of shareholders held on June 21, 2017 including the re-election of the directors Joseph Conway, Patrick Downey, Michael Halvorson, Keith Peck and Ronald Batt as well as the re-approval of the 2016 Stock Option plan and Deloitte LLP being appointed auditors for the fiscal year ending December 31, 2017.

In accordance with the Company’s Stock Option Plan the Company has granted certain employees, executives and directors stock options to purchase up to an aggregate of 4,850,000 common shares, exercisable on or before June 23, 2027 at a strike price of $0.78 per common share.

About Orezone Gold Corporation

Orezone is a Canadian company with a successful gold discovery track record and recent mine development experience in Burkina Faso, West Africa. The Company owns a 90% interest in Bomboré, a fully permitted, undeveloped oxide gold deposit in West Africa, which is situated 85 km east of the capital city, adjacent to an international highway.

Additional information on Orezone Gold can be found at www.orezone.com and www.sedar.com.

For further information please contact Orezone at (613) 241‑3699 or Toll Free: (888) 673‑0663

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

OTTAWA, Ontario, June 23, 2017 (GLOBE NEWSWIRE) — L’impact du conflit en Afghanistan s’étend bien au-delà des champs de bataille et des bases militaires, bien au-delà de ce que nous voyons à la télévision et entendons aux nouvelles. Cela se rend jusque dans les salles familiales, les terrains de jeux et les écoles de notre pays. C’est là que la vie continue pour les enfants souvent oubliés des parents qui ont fait le sacrifice ultime au nom de notre pays.

La Canada Company a annoncé aujourd’hui que quatorze de ces enfants recevront le soutien qu’ils méritent depuis longtemps alors qu’ils sont reconnus comme les bénéficiaires de 2017 du Fonds des bourses d’études de la Canada Company (CCSF). Le Canada Company (CCSF) a été créé en 2007 au paroxysme du conflit en Afghanistan. Le Fonds accorde des bourses d’études postsecondaires à la fois aux enfants des membres de nos forces armées canadiennes et de nos réserves tués en service lors d’une mission militaire ou décédés par suicide attribué au service militaire depuis 2002.

« Je venais tout juste d’obtenir mon diplôme d’études secondaires quand mon père a été tué, et j’ai rapidement appris que, en tant que jeune enfant ou jeune adulte, l’impact de la perte si abrupte d’un parent militaire n’était pas seulement tragique, mais qu’elle entraîne également l’isolement », a déclaré Kirsten Hess Von Kruedener, une ancienne étudiante dont le père, major Paeta Hess-Von Kruedener, a été tué dans le sud du Liban en juillet 2006 alors qu’il servait au sein de l’Organisme des Nations Unies chargé de la surveillance de la trêve. « En tant que bénéficiaires du Canada Company (CCSF), nous faisons aussitôt partie d’un réseau d’amis qui ont partagé une expérience semblable. Nous sommes tous liés par le chagrin, mais nous sommes aussi plus forts grâce à notre communauté, et nous sommes en mesure de réfléchir ensemble pour rendre hommage à nos proches. »

En honorant l’héritage de leurs parents décédés, les anciens étudiants du Canada Company (CCSF) représentent des membres importants et actifs de leur communauté locale et illustrent l’impact décisif de l’éducation postsecondaire sur les jeunes. Cette année, la cérémonie spéciale inclura la reconnaissance de plusieurs anciens étudiants du Fonds des bourses d’études de la dernière décennie dont les vies ont été profondément touchées par l’aide financière et la communauté de soutien bienveillante favorisées par les bourses.

« Nous sommes fermement engagés à soutenir ces familles et à aider ces enfants du mieux que nous le pouvons », a déclaré Blake Goldring, fondateur et président du conseil d’administration de la Canada Company. « L’impact qu’ils ressentent est à la fois émotionnel et financier. Nous reconnaissons l’importance de leur fournir une aide financière et la valeur des études postsecondaires dans leur avenir. »

Les bénéficiaires du Fonds des bourses d’études de la Canada Company en 2017 sont :
Katherine Arnold, Pembroke, ON

Kristopher Beerenfenger, Oromocto, NB

Connor Bobbitt, Wolfville, NS

Elizabeth Bobbitt, Wolfville, NS

Jacob Elms, Kingston, ON

Chelsey Hendrickson, Lincoln, NB

Kari Anne Kruse, Fredericton, NB

Maude Mercier, Québec, QC

Kiera Mitchell, Edmonton, AB

Kestrel Musselman, Halifax, NS

Charles Parker, Courtice, ON

Sarah Stewart, Miramichi, NB

Elliott Webb, Kingston, ON

Samantha Webb, Montréal, QC

Faits importants sur le Fonds des bourses d’études de la Canada Company

• 400 000 $ ont été accordés depuis la création du Fonds
• 125 bourses ont été accordées à 42 étudiants
• Le montant total du Fonds est de 3 millions de dollars

Pour la Canada Company, un organisme de bienfaisance enregistré qui aide et défend ceux qui servent ou qui ont servi dans les Forces armées canadiennes, « le soutien émotionnel et profondément fondamental d’une bourse d’études est tout aussi important que le soutien financier que cette bourse offre à ses bénéficiaires », a déclaré la présidente de la Canada Company, Angela Mondou. « Ces enfants se donnent mutuellement des conseils d’orientation de carrière, du soutien scolaire, et ils nouent des relations significatives avec d’autres enfants qui ont vécu une situation semblable, et c’est quelque chose qu’ils apprécient grandement. »

Le Fonds des bourses d’études de la Canada Company s’efforce de constamment évoluer afin de répondre aux besoins de la famille militaire moderne, et est maintenant le plus grand Fonds de bourses d’études du genre dans le pays.

À propos de la Canada Company

La Canada Company est un organisme de bienfaisance enregistré, créé en 2006 par l’homme d’affaires canadien et colonel honoraire, Blake Goldring M.S.M., LL.D., CFA. La Canada Company est fière de servir notre pays à bien des égards, de célébrer nos héros militaires et leur famille ainsi que de favoriser un échange mutuellement avantageux entre les ressources militaires éprouvées et remarquables du Canada et notre innovateur milieu des affaires canadien, contribuant à créer un Canada meilleur.

Une société conceptrice de programmes de confiance, la Canada Company offre le Programme d’aide à la transition de la carrière militaire – le Programme PAT; accueille l’Échange de connaissances stratégiques et l’Échange national sur la transition; et finance des bourses d’études pour les enfants de militaires tués en service lors d’une mission active avec les Forces armées canadiennes. Pour en savoir davantage, visitez : CanadaCompany.ca.

CONTACT: Pour de plus amples renseignements, veuillez communiquer avec :
Alycia Walker
Alycia@republicstory.com
416 537-4444, poste 1008

OTTAWA, Ontario, June 23, 2017 (GLOBE NEWSWIRE) — The impact of the Afghanistan conflict extends far beyond the battlefields and military bases, beyond what we see on TV and hear about in the news. It goes into the family rooms, the playgrounds and the schools of our country. That is where the often forgotten children of parents who have made the ultimate sacrifice on behalf of our country go on with their lives. 

Canada Company today, announced fourteen of these children will be receiving the support they have long deserved when they are recognized as the 2017 recipients of the Canada Company Scholarship Fund (CCSF). The CCSF was established in 2007 at the height of the Afghanistan conflict. The Fund awards post-secondary education scholarships to children of our Canadian Armed Forces, both Forces and Reserves, who were killed while serving in an active role in a military mission or who died from suicide attributed to military service since 2002.

“I was just graduating from high school when my father was killed, and quickly learned that whether as a young child or a young adult, the impact of losing a parent in the military in such an abrupt way was not only tragic – but very isolating as well,” said CCSF alumni Kirsten Hess Von Kruedener, whose father, Major Paeta Hess-Von Kruedener, was killed in South Lebanon in July of 2006 while serving with the United Nations Truce Supervision Organization. “As CCSF recipients, we immediately become part of a network of friends who have shared this  similar experience. We are all bound by sorrow, but we’re strengthened by our community as well, and able to reflect together to honour our loved ones.”

Honouring the legacy of their fallen parent, CCSF alumni represent strong, contributing members of their local communities and exemplify the transformational impact of post-secondary education on young lives. This year, the special ceremony will include recognition of several Scholarship Fund alumni from the past decade whose lives have been deeply impacted by the financial relief and the nurturing community of support that the scholarship has fostered amongst its recipients. 

“We are firmly committed to supporting these families and helping these children in any way we can,” says Blake Goldring, Founder and Chair of Canada Company. “The impact they feel is both emotional and financial. We recognize the importance of providing them with monetary assistance and the value of a post-secondary education in their futures.”

The 2017 Canada Company Scholarship Fund recipients are:
Katherine Arnold, Pembroke, ON

Kristopher Beerenfenger, Oromocto, NB

Connor Bobbitt, Wolfville, NS

Elizabeth Bobbitt, Wolfville, VS

Jacob Elms, Kingston, ON

Chelsey Hendrickson, Lincoln, NB

Kari Anne Kruse, Fredericton, NB

Maude Mercier, Quebec City, QC

Kiera Mitchell, Edmonton, AB

Kestrel Musselman, Halifax, NS

Charles Parker, Courtice, ON

Sarah Stewart, Miramichi, NB

Elliott Webb, Kingston, ON

Samantha Webb, Montreal, QC

Canada Company Scholarship Fund Key Facts –

• $400,000 has been awarded since the Fund’s inception
• There have been 125 scholarships to 42 students
• The total amount of the Fund is $3 million

For Canada Company, a registered charity that assists and advocates for those serving or those who have served in the Canadian Armed Forces, “The deeply foundational and emotional support of the scholarship is just as important as the financial support that it offers its recipients,” says Canada Company president, Angela Mondou. “These kids give each other career advice, academic support and they build meaningful relationships with other kids who have faced a similar situation – and that’s something they value greatly.”

The Canada Company Scholarship Fund strives to continually evolve to meet the needs of the modern military family – and is now the largest scholarship fund of its kind in the country.

About Canada Company

Canada Company is a federally registered charity created in 2006 by Canadian businessman and Honorary Colonel, Blake Goldring M.S.M., LL.D., CFA. Canada Company takes pride in serving our country in many ways, celebrating our Military heroes, and their families, and fostering a mutually beneficial exchange between Canada’s remarkable military tested resources and our innovative Canadian business community – helping create a Better Canada.

A trusted Program Builder, Canada Company offers the Military Employment Transition – MET Program; hosts the National Transition Symposium and Strategic Knowledge Exchange; and funds Scholarships for children of military members killed while serving on an active mission with the Canadian Armed Forces. To learn more visit: CanadaCompany.ca.

CONTACT: For more information, please contact:
Alycia Walker
Alycia@republicstory.com
(416)537-4444, ext. 1008

TORONTO, June 23, 2017 (GLOBE NEWSWIRE) — Enwave USA, through affiliates of Enwave Energy Corporation (“Enwave“), is pleased to announce the completion of the acquisition of district energy systems in Los Angeles, Portland and Las Vegas.

The Los Angeles system has chilled water capacity of 35,300 tons of cooling and a 7.8 mile distribution network, serving hotels, office buildings and residential towers in the Bunker Hill and Century City neighborhoods.  Enwave also acquired two sizeable operation and maintenance contracts in Los Angeles as part of the transaction.

The Las Vegas system has a capacity of 187,600 pph of steam and 32,420 tons of cooling, serving one of the largest Resort-Hotel-Casinos on the main Las Vegas strip.

The Portland system has a chilled water capacity of 4,530 tons of cooling and a 2.5 mile distribution network, serving customers in the Brewery Blocks, a five-block shopping and professional district in downtown Portland.

Enwave has offered employment to all existing employees.

“The acquisition of these district energy systems allows Enwave to establish a presence in two attractive new markets, namely Los Angeles and Portland, while expanding our presence in Las Vegas,” stated John Peri, Enwave President and CEO. “We are excited to continue delivering clean, reliable and cost competitive energy solutions to the customers in these markets and look forward to expanding these systems over time.”

About Enwave

Enwave Energy Corporation, together with its affiliates, is a fully integrated, sustainable energy services provider owned by Brookfield Infrastructure and its institutional partners, with operations in Toronto, Chicago, Houston, Las Vegas, New Orleans, Seattle, Windsor, Los Angeles and Portland. In each community, Enwave operates highly efficient thermal energy plants that distribute steam, hot water and/or chilled water to customer buildings.

CONTACT: Contact

John Peri
Chief Executive Officer
Enwave Energy Corporation
Phone: 416-393-8025
Email: Jperi@enwave.com

TORONTO, June 23, 2017 (GLOBE NEWSWIRE) — Freshii Inc. (the “Corporation”) (TSX:FRII), a leader in the health-casual restaurant business, today announced the results of the vote on directors at its June 23, 2017 annual meeting of shareholders.

Each director nominee proposed in the Management Information Circular of the Corporation dated May 19, 2017 was elected as a director, without a vote by ballot being conducted, to hold office until the close of the next annual meeting of shareholders or until the director’s successor is elected or appointed. The Corporation received proxies with regard to voting on the eight (8) directors nominated for election, directing as set forth in the table below:

About Freshii

Eat. Energize. That’s the Freshii mantra. Freshii is a health-casual restaurant brand that serves fresh food designed to energize people on the go. With a diverse and completely customizable menu of breakfast, soups, salads, wraps, bowls, burritos, frozen yogurt, juices and smoothies served in an eco-friendly environment, Freshii caters to every taste and dietary preference.

Since it was founded in 2005, Freshii has opened hundreds of restaurants in cities and countries around the world. Freshii can be found in all location types from cosmopolitan cities, college campuses, suburban neighborhoods and malls to fitness clubs, airports and small towns.

Inquire about how to join the Freshii family: https://freshii.com/us/franchising.
Learn more about investing in Freshii: http://ir.freshii.com.
Learn about the Freshii brand: https://vimeo.com/195658178.
Find your nearest Freshii: http://www.freshii.com.
Follow Freshii on Twitter and Instagram: @freshii.

CONTACT: For further information contact:
Ed Yuen
ir@freshii.com
1.866.337.4265

VANCOUVER, British Columbia, June 23, 2017 (GLOBE NEWSWIRE) — Gray Rock Resources Ltd. (TSX.V:GRK) (“Gray Rock” or the “Company”) wishes to announce that it has granted incentive stock options for the purchase of 400,000 common shares at a price of $0.44 per share exercisable on or before June 23, 2022 to the directors of the Company.  The options are subject to the Company’s stock option plan.

For further information please contact Gray Rock Resources Ltd. at ph. (604) 682-3701, or log onto our website at www.grayrockresources.com

ON BEHALF OF THE BOARD

“David Wolfin“

_________________________________
David Wolfin
President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  

This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s periodic filings with Canadian securities regulators.  Such information contained herein represents management’s best judgment as of the date hereof based on information currently available.  The Company does not assume the obligation to update any forward-looking statement.

CONTACT: GRAY ROCK RESOURCES LTD.
Suite 900 – 570 Granville Street
Vancouver, BC   V6C  3P1
Ph: (604) 682-3701 ♦ Fax: (604) 682-3600
www.grayrockresources.com ♦ ir@grayrockresources.com 

TORONTO, June 23, 2017 (GLOBE NEWSWIRE) — FTI Foodtech International Inc. (TSX Venture:FTI) (“FTI”) announces that it has signed a Memorandum of Understanding (MOU) with iDroid USA Inc. (iDroid) of Philadelphia, PA.

The proposed agreement will have FTI purchase all assets and business activity of iDroid in exchange for common shares of FTI and stock options.

iDroid is a mobile technology company, that designs, develops and distributes versatile and  affordable mobile devices and services, including smartphones, tablets, wearables and mobile apps.  iDroid currently sells in the USA, Canada, Europe, the Middle East and East Africa.

Further details of the proposed agreement will be released once finalized and executed. 

The TSX Venture Exchange Inc. has neither approved nor disapproved the contents of this press release.

CONTACT: For further information, contact: William Hullah, President, FTI at (416) 444-1058

CALGARY, Alberta, June 24, 2017 (GLOBE NEWSWIRE) — Economic Developers Alberta (EDA) presented its economic opportunity assessment report, “Embracing the New Economic Realities: After the Wildfires,” to the Regional Municipality of Wood Buffalo (RMWB).

The report shines a spotlight on the state of the overall business sector within the region and reflects the voice of multi-tiered stakeholder groups, including their view of what is working, what needs improvement, and ultimately, recommendations for ways in which businesses, industry and the community can work collaboratively towards success.

It is a consolidation of feedback from over 200 business and stakeholder interviews; and includes over 50 immediate, short, medium and long-term recommendations specific to business and economic recovery and growth throughout the region. 

Earlier this year, EDA assembled a 10-member team of experts in economic development, recovery and resiliency; each of which brought a significant amount of knowledge and first-hand experience to the task at hand. 

This final report is a consolidation of their research and expertise in response to feedback they received during the business stakeholder process.  

“Upon immersing ourselves in the community, we quickly learned that the region’s economic landscape was already suffering from not one, but two major traumas: the May 2016 wildfire and the economic downturn of 2014-2016,” said Leann Hackman-Carty, EDA CEO. “While this qualitative report is not meant to be a strategic plan, it does incorporate a wide variety of economic development strategies, tactics and best practices in economic recovery to help the community rebuild with intention, while capitalizing on the tenacity and entrepreneurial drive of its residents and business owners.”

The long-term economic impacts of the 2016 wildfires may still not be known for many months and possibly years to come. What is known is that there will definitely be a new normal for the community. Out of the rubble comes opportunities for renewed growth that can very often take a community beyond where it was before. Today’s strategic commitment to business revitalization, economic recovery and regional resilience will positively impact this unique and potential-rich community for a long, healthy future.

Read the report at www.edaalberta.ca

About EDA: www.edaalberta.ca

CONTACT: Media Inquiries:
Leann Hackman-Carty, EDA CEO
Cell: (403)-807-7746
leann@edaalberta.ca

EDMONTON, Alberta, June 25, 2017 (GLOBE NEWSWIRE) — Over 300 people joined Alberta Together, Saturday, June 24, 2017 at the Black Knight Inn, in Red Deer, AB. During a lively interactive conversation, the current political landscape was discussed and how to foster the growth of the next generation of political leaders in Alberta. 

The attendees in the room took an electronic vote about where they would like to put their political energy going forward. 83% voted to build the Alberta Party. 

The meeting, which was open to the media, was attended by people from all political stripes and as well as newcomers to politics. 

“We were so thrilled with the number of people who came out to this event,” Katherine O’Neill, Alberta Together’s Executive Director said. “There’s a new generation of modern, inclusive people who are hungry for a positive political voice and we are going to build on that.” 

Speakers Included:
Pat Cochrane, President, Alberta Party
Greg Clark, Leader, Alberta Party
Kerry Cundal, Former Alberta Liberal Leadership Candidate
Stephen Mandel, Former Health Minister and Mayor of Edmonton
Emcees, Katherine O’Neill and Harman Kandola     

Alberta Together strives to shape and support a strong, positive and inclusive centrist political voice in our province that will be ready for the 2019 election. It is a not-for-profit organization that puts public service, pragmatic centrist principles and province-building at the top of its agenda.

CONTACT: Media contact:
Jenny Adams
The Adams Agency
P: 780.707.9101
E: jenny@theadamsagency.ca

VANCOUVER, British Columbia, June 26, 2017 (GLOBE NEWSWIRE) — Moovly Media Inc. (“Moovly” or the “Company“) (TSXV:MVY) announces that it has completed its previously announced non-brokered private placement of units (each, a “Unit“).  The Company issued 17,333,333 Units for gross proceeds of $2,600,000.  Each Unit is comprised of one common share in the capital of the Company (a “Common Share“) and one common share purchase warrant (a “Warrant“).  Each Warrant entitles the holder to purchase a Common Share at a price of $0.25 per share for a period of one year from the date of issuance. An insider of the Company participated in the private placement and acquired 200,000 Units.  All of the securities issued under the private placement will be subject to a four month resale restriction.  The completion of the proposed private placement remains subject to the final approval of the TSX Venture Exchange.

The Company plans to use the gross proceeds of the private placement as follows:

Although the Company intends to use the proceeds of the offering as described above, the actual allocation of net proceeds may vary from the uses set forth above, depending on future operations or unforeseen events of opportunities.

About Moovly

Moovly is a leading content blending* company with a suite of products and services for video content creation. Moovly solutions include a feature and asset rich editor called Moovly Studio for manually making content, video generators called Moovly Bots which automatically creating content based on templates and client data and a mobile app for capturing and presenting content on the go. Moovly Studio differentiates itself from its competitors in three critical dimensions: technological leadership, superior digital asset libraries, and flexible third party integration capability, thus providing users with everything they need to create content within one platform.

Moovly is affordable, intuitive and simple to use thus making it the leading choice to create great promotional or explainer videos, engaging presentations, interactive infographics and communications materials for businesses of any size, educational, government and non-profit organizations. Moovly’s certified security and privacy standards meet government, financial service and large enterprise requirements. At the same time, its ease of use, democratic pricing and social media integration make Moovly suitable for small businesses, entrepreneurs, freelancers and consumers alike.

Moovly Bots are easily customizable web applications suitable for agencies, brands and large membership organizations seeking to automate, customize and mass personalize engaging video based communications to their users, clients, fans, followers or members.

*Content blending is the process of combining a broad variety of media types (video, illustration, animation, sounds, music) from (Moovly) stock and own content sources while being able to customize, modify and create content thus resulting in totally new and unique content creations. 

As of the date of this press release, there is no material fact or material change related to the Company which has not been generally disclosed.  For additional information regarding Moovly, please refer to its website at www.moovly.com.

Reader Advisory

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this news release contains forward looking statements and information with respect to the proposed use of the net proceeds and the approval of the TSX Venture Exchange.  The forward-looking statements and information are based on certain key expectations and assumptions made by the Company.  Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Company can give no assurance that they will prove to be correct. 

By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed.  These risks and uncertainties, include, but are not limited to, the failure of Moovly to continue to commercialize its products or demand for its products decreases of disappears.  Other risk factors are set forth in detail in the Company’s Management Information Circular dated March 30, 2016 which is available for review under the Company’s corporate profile at www.sedar.com.  Some other risks and factors that could cause the results to differ materially from those expressed in the forward-looking information also include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, unanticipated operating events; failure to obtain any necessary third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital and skilled personnel; changes in tax laws; and the other factors.  Readers are cautioned that this list of risk factors should not be construed as exhaustive. 

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose.  The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities of the Company will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.

CONTACT: For further information please contact:

Brendon Grunewald
President, CEO and Director
Phone: +1 604-639-4457
Email:  bgrunewald@moovly.com

Dan Whittle 
Phone:  +1 604-639-4486
Email:  daniel.whittle@moovly.com

SAN JOSE, Calif., June 26, 2017 (GLOBE NEWSWIRE) — POET Technologies Inc. (the “Company” or “POET”) (OTCQX:POETF) (TSX Venture:PTK), a developer of opto-electronic fabrication processes for the semiconductor industry, has published a new slide presentation in the Investor Relations section of its website, which management intends to use as part of investor meetings this week to help raise awareness of the Company. Additionally, management plans to review these slides as part of the agenda at the upcoming Annual General Meeting scheduled for July 13, 2017, which will be webcast.

A copy of the slide presentation can be found on the Company’s website at http://www.poet-technologies.com/presentations-and-events.html

About POET Technologies Inc.
POET (Planar Opto-Electronic Technology) and its subsidiaries are developers of opto-electronic and photonic fabrication processes, devices and products. The company’s vision is to enable the integration of photonics and electronics through both monolithic and hybrid approaches to design and packaging. Integration is fundamental to increasing functional scaling and lowering the cost of current photonic solutions that drive applications in data communications, consumer products and industrial sensing. Leveraging both Gallium Arsenide (GaAs) and Indium Phosphide (InP) technology platforms, POET believes that its advanced processes for active photonic devices and innovative passive components provide a unique and differentiated combination that will enable substantial improvements in component cost, size and performance over current photonic solutions. More information may be obtained at www.poet-technologies.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

120 Eglinton Avenue, East, Suite 1107, Toronto, ON, M4P 1E2- Tel: 416-368-9411 – Fax: 416-322-5075

CONTACT: Shareholder Contact:
Shelton Group
Brett L. Perry
Leanne K. Sievers
E: sheltonir@sheltongroup.com

Toronto, June 26, 2017 (GLOBE NEWSWIRE) —

Many families are encouraging their kids to get outside into the garden. Gardening can benefit children’s health and well-being and impact their attitudes towards learning, the environment, nutrition and so much more.

Gardening has become easier and more accessible for kids, thanks in part to innovative plastic gardening tools and equipment that are readily available at many home or garden stores.

Want to start gardening with the kids? Here are a few gardening tips for kids to get you started:

Gardening Tip for Kids #1: Go Vertical

No backyard? No problem. Create an urban oasis on virtually any wall with vertical gardening, made possible by innovative plastic products that allow plants to grow above the ground. Known also as “green walls” or “living walls,” vertical gardens consist of a collection of plants that grow up a wall or other vertical surface, both indoors and outdoors.

For example, Woolly Pockets are flexible, breathable gardening containers designed for use on just about any wall (as well as floors and tabletops). The felt pockets are made entirely from recycled plastic bottles attached to a moisture barrier made from 60% recycled plastic. Some schools short on space are installing vertical gardens on walls and chain-link fences in only a few hours.

Gardening Tip for Kids #2: Use Plastic Containers

Even if there’s no room for a garden, kids can still enjoy growing and harvesting fresh vegetables. Container gardens are easy to manage, can be as large or small as space permits and allow experimentation with different plants, soils and environmental conditions, indoors and out. Plastic containers are ideal for this type of gardening—they are lightweight and easier to move than heavier pots and reusable many times. And in some locations, depending on the local program and kind of container, they can even be recycled. Check out some of these cool examples of container gardens.

Gardening Tip for Kids #3: Enjoy the Feathered Friends

Most kids love wildlife. They can encourage feathered friends to visit the garden for many seasons with an inviting, durable bird house constructed of recycled plastic. It’s also easy to create bird houses from plastic bottles! Reusing and recycling plastics helps reinforce the environmental lessons of gardening.

Gardening Tip for Kids #4: From Mint to Marjoram, Start from Seeds

Kids can reuse plastic nursery pots and seedling trays to grow herbs year round. Lightweight plastic pots and trays are convenient and easy to move around to capture the sun.

Gardening Tip for Kids #5: Get a Group Together

Most kids enjoy playing in the dirt with their buddies. Gathering friends to create a garden makes the mess into success, turning dirt time into an educational and fun activity. You can even garden at school.

Gardening Tip for Kids #6: Make a Gardening Chore Chart

Many children benefit from the structure of regular, meaningful chores. Daily watering? Weekly weeding? Pest patrol? These simple tasks allow kids to play a genuine role in caring for the garden.

Gardening Tip for Kids #7: Sharing is Caring – Grow Your Own Gifts

A garden takes on special meaning for kids when its fruits can be shared. Sharing a bouquet of flowers with a friend or teacher … planting a row of vegetables specifically for a food pantry or ministry … inviting friends for harvest time … all great ways to cultivate a garden and caring kids.

Find more kids gardening tips and ideas at KiddieGardens.com.

Today’s intelligent plastics are vital to the modern world. These materials enhance our lifestyles, our economy and the environment.  For more information, visit www.intelligentplastics.ca.

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/ba5a0d8f-e789-4e89-b177-dbb0d4326921

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/5a4787b2-c34e-4afd-a41a-02b35ebc7855

CONTACT: Darlene Gray
Intelligent Plastics 
905 678 7748 ext 239
dgray@plastics.ca

• Strong progress toward completion of the final Environmental Impact Statement (EIS) to be filed by the U.S. Army Corps of Engineers (the “Corps”), the lead permitting agency
• After encouraging results, Donlin Gold’s joint partners approved an $8-million drill program to collect geologic and geotechnical data to support ongoing optimization efforts
• With over $93 million in its treasury as of May 31, 2017; NOVAGOLD has sufficient funds to complete permitting, including the new drill program and planned optimization work at Donlin Gold

VANCOUVER, British Columbia, June 26, 2017 (GLOBE NEWSWIRE) — NOVAGOLD RESOURCES INC. (TSX:NG) (NYSE MKT:NG) today released its second quarter financial results and updates for its flagship 50%-owned Donlin Gold project in Alaska and its 50%-owned Galore Creek copper-gold-silver project in British Columbia.

Details of the financial results for the three and six months ended May 31, 2017 are presented in the consolidated financial statements and quarterly report filed on Form 10-Q with the SEC that will be available on the Company’s website at www.novagold.com, on SEDAR at www.sedar.com, and on EDGAR at www.sec.gov. All amounts are in U.S. dollars unless otherwise stated and all resource and reserve estimates are shown on a 100% project basis.

Second quarter highlights and achievements include the following:

• Donlin Gold continued to engage with the Corps and cooperating agencies to provide requested information, define alternatives to be analyzed in the final EIS and refine other permit review items to ensure orderly advancement of the final EIS, currently on track to be filed in early 2018
• Other Donlin Gold major permits and approvals were advanced with federal and state agencies:
  - The Pipeline and Hazardous Materials Safety Administration published a Public Notice seeking comments on the request for a special permit to construct the natural gas pipeline; the process closed with no substantive comments received.
  - The Alaska Department of Environmental Conservation, Division of Air Quality issued the draft Prevention of Significant Deterioration (PSD) permit for public comment; other than Donlin Gold’s proposed technical revisions, no substantive comments were received.
  - Donlin Gold filed several revised major state permit applications (e.g., integrated waste management permit and water discharge permit).
• Barrick Gold and NOVAGOLD are jointly advancing optimization efforts with an $8-million drill program to capitalize on the flexibility inherent in Donlin Gold’s unique characteristics of large size, superior grade and strong exploration potential:
  - Results-to-date in studies focused on enhancing project economics have been encouraging in highlighting a more cost-effective project execution that has the potential to substantially reduce up-front capital.
  - To this end, the approved drilling program was designed to collect geologic and geotechnical data to support these value-enhancing optimization efforts.
• Sustained community engagement and outreach efforts with local stakeholders and community partners, primarily in Southwest Alaska:
  - Completed multiple village meetings across the Yukon-Kuskokwim (Y-K) region.
  - Provided support during the 45th Iditarod Trail Sled Dog Race as a returning Principal Partner Sponsor.
  - Facilitated Aniak’s 4th Annual Academic Decathlon and Career Fair, supporting workforce and skills development initiatives.
  - Supported the Y-K region’s annual “Clean Up Green Up” community initiative and promoted summer safety through the “Kids Don’t Float” and “Alaska Boating Safety” campaigns.

President’s Message

Donlin Gold Project

For the past five years, NOVAGOLD has been focusing its resources on one unwavering strategy: to advance and de-risk its flagship Donlin Gold project in order to provide the most attractive way for our stakeholders to profit from the next phase of the long-term bull market in gold. I am proud to report that, year-after-year, we have been successful in executing on our stated objectives without interruption, and what we believe is the most important gold development project in the world is making material and indeed exciting progress on all fronts.

In 2017, our goals are threefold: first, to continue our positive engagement with federal and state agencies to advance permitting; second, to work as a team with our partner Barrick Gold on enhancing the value of the project by completing work, including a new drill program, to advance the optimization effort that has yielded positive results; and third, to maintain excellent working relationships with our community partners and local stakeholders via our continued outreach efforts. When one has a unique asset such as Donlin Gold, it takes true dedication, collaboration, trust and respect among all stakeholders to successfully move the project forward to completion. Our progress to date is a testament to the joint commitment we share with Barrick, as well as the strong partnerships we have developed with Calista Corporation (the owner of mineral rights), The Kuskokwim Corporation (the owner of surface rights) and with members of the local communities. While we have already delivered tangible social, economic and environmental benefits to all of the project’s local stakeholders, we expect to deliver a great deal more in the future. There can be no doubt that the best is yet to come.

Activities in the second quarter of 2017 were focused on advancing the Donlin Gold final EIS. Donlin Gold continued to meet with the Corps and cooperating agencies to ensure that all requested information needed for the final EIS is delivered in a complete and timely fashion. We also provided assistance in defining alternatives to be analyzed in the final EIS and ensuring that permit review processes are aligned with the EIS schedule.  The final EIS remains on track for filing in early 2018. In addition to the EIS process, Donlin Gold advanced other major state and federal permit applications and approvals. In April, the Pipeline and Hazardous Materials Safety Administration published a Public Notice seeking comments on Donlin Gold’s request for a special permit to construct the natural gas pipeline. The comment period closed on June 2, 2017 and no substantive comments were received. The Alaska Department of Environmental Conservation, Division of Air Quality, also issued the draft Prevention of Significant Deterioration (PSD) permit for public comment. The comment period for the draft PSD closed on May 12, 2017, again with no substantive comments other than Donlin Gold’s requested technical revisions. The Donlin Gold team has also filed several revised major state permit applications, such as the integrated waste management permit and water discharge permit. It is encouraging to see that all of these permitting activities remain very much on track.

Our team fully appreciates the importance of an asset like Donlin Gold, particularly in the context of an industry starved for company-making high-quality gold operations with the scale and cost structure to deliver lasting economic benefits for decades to come. With 39,000,000 ounces of gold endowment established in a measured and indicated resource that grades an impressive 2.2 grams per tonne, and a unique exploration upside potential exemplified by the fact that the currently-designed pit occupies only three kilometers of an eight-kilometer mineralized belt, Donlin Gold has the potential to enter a select pantheon of world-class operations that will be the definition of a great gold mine. Simply put, Donlin Gold is in a league of its own, particularly if you add the fact that the property is located in the geo-politically safe jurisdiction of Alaska, the second largest gold producing U.S. State and one which enjoys a time-honored tradition of respect for, and commitment to, the mining sector. The project’s strong attributes are manifested in its unique ability to produce approximately 1,500,000 ounces per year at an average all-in-sustaining cost (AISC) of $532 per ounce (with cash costs projected to average $411/ounce) during the first five years, and 1,100,000 ounces of gold per year at an AISC of $735 per ounce (with cash cost projected to average $635/ounce) over its projected 27-year life. We appreciate that we have a one-of-a-kind development opportunity on our hands and continue to work diligently to realize its extraordinary potential.

We are not, however, resting on our laurels. To that end, Barrick and NOVAGOLD recently announced a jointly-funded $8-million (100% basis) drill campaign to further optimize the project. This program, focused on collecting geologic and geotechnical data to support ongoing Donlin Gold optimization efforts, was developed as a direct consequence of encouraging results achieved from the evaluations completed to-date by technical experts from both partners. The work focused on ways to capitalize on the flexibility inherent in Donlin Gold’s unique characteristics, identifying opportunities such as employing modular construction, automation of certain mining activities and implementation of innovative ideas for infrastructure development and logistics, among others, which will continue to be thoroughly assessed. Any enhancements to the execution plan would be reflected in an updated feasibility study that will also incorporate updated input costs. We are confident that the new program should provide us with valuable data which will help develop this exceptional project in a cost-effective manner.

Galore Creek Project

In the second quarter 2017, Galore Creek continued to advance technical studies to further optimize project design. We opened a section of the camp where a team primarily consisting of representatives of the Tahltan First Nations contract employees is supporting scheduled care and maintenance efforts. As a sizable, high-quality deposit that, when built, is expected to be one of the largest and lowest-cost copper mines in Canada, we have no doubt that Galore Creek is a company-making project all on its own. In light of its potential to yield material value to our shareholders, we continue to explore opportunities to monetize all or part of our 50% interest so that we might re-deploy our resources toward the advancement of our flagship project, Donlin Gold.

Stakeholder Engagement

It is our belief that earning a social license to operate must be based on a solid foundation and thorough understanding of the language, values and culture of the people in the regions where our projects are located. This philosophy guides our efforts to establish and maintain strong ties with our projects’ regional and community partners – building working relationships that now span over 20 years, and which we expect to last much, much longer. In the second quarter, Donlin Gold completed a number of village meetings across the Y-K region, providing project status updates and responding to queries from local residents. In March, Donlin Gold was a returning Principal Partner Sponsor of the 45th Iditarod Trail Sled Dog Race and provided support throughout the race, a world renowned endurance event that pays tribute to Alaska’s history and the role the sled dog played in reaching remote communities during the gold rush. Congratulations to all of the mushers who participated in this year’s race with special recognition to Pete Kaiser, who is from the region near the Donlin Gold project and finished in 9th place. Additionally, Donlin Gold supported Aniak’s 4th Annual Academic Decathlon and Career Fair that provides skill development workshops for students in grades 7 through 12. Two other important initiatives that Donlin Gold participated in are the Y-K region’s annual “Clean Up Green Up” that encourages communities to pick up waste that accumulated over the winter months, as well as the “Kids Don’t Float” and “Alaska Boating Safety” campaigns which promote summer safety. Through Galore Creek, we continued to support various local Tahltan community initiatives.

Balance Sheet

We continue to guard our treasury and remain financially strong. With over $93 million in cash and term deposits as of May 31, 2017, we are able to keep our focus on completing permitting activities at Donlin Gold, as well as advance the optimization work with Barrick which includes our recently approved drill program.  For the year, I’m genuinely pleased to report that the budget has been increased by $4 million to take into account the additional optimization work and drill program at Donlin Gold that will take place over the remainder of the year. We now anticipate a total cash budget of $27 million in 2017, of which $12 million has been spent as of the end of the second quarter.

In conclusion, I would like to thank our shareholders and stakeholders for their tremendous support and trust; our project teams for their hard work, dedication and expertise in the excellent management of our quality assets; the governments, Native Corporations and First Nations of the jurisdictions where we operate; and finally, our Board of Directors for its shareholder-friendly and value-focused vision as we work together to realize the tremendous opportunity that NOVAGOLD represents for all of us.

Gregory A. Lang
President & CEO

Financial Results

(1) Includes share-based compensation expense of $2,049 and $1,869 in the second quarter of 2017 and 2016, respectively, and $5,974 and $6,577 in the first six months of 2017 and 2016, respectively.

Loss from operations in the second quarter increased from $7.4 million in 2016 to $7.6 million in 2017 and decreased for the first six months from $16.9 million in 2016 to $16.5 million in 2017. General and administrative expenses were higher in the second quarter of 2017 due to higher share-based compensation costs for stock options compared to the prior year quarter. The year-to-date decrease in loss from operations is primarily due to the timing of share-based compensation costs for stock options compared to the prior year.

Net loss in the second quarter decreased from $9.1 million ($0.03 per share) in 2016 to $8.5 million ($0.03 per share) in 2017 and decreased for the first six months from $19.1 million ($0.06 per share) in 2016 to $18.6 million ($0.06 per share) in 2017. Net loss decreased for the first three and six months due to lower operating costs and a favorable $1.0 million net change in foreign exchange gains and losses, partially offset by higher interest expense on the promissory note payable to Barrick.

Liquidity and Capital Resources

Cash, cash equivalents and term deposits decreased by $4.7 million and $11.8 million in the second quarter and first six months of 2017, respectively. Cash used to fund Donlin Gold and Galore Creek in the second quarter and first six months was consistent with the prior year quarter, $3.1 million in cash was provided from a reduction in term deposits. The decrease in cash for the first six months was primarily due to lower withholding taxes paid on vested performance share units. The Company elected to deliver full shares to executives in the first quarter of 2017 to reduce the use of cash. No cash was used in financing activities in the first six months of 2017 or 2016. The term deposits are denominated in U.S. dollars and held at Canadian chartered banks.

2017 Outlook

For the full year, we now to expect to spend approximately $27 million, including $11 million for general and administrative costs, $14 million to fund our share of expenditures at the Donlin Gold project, and $2 million at the Galore Creek project.

NOVAGOLD will continue to focus on five primary goals in 2017: advance the Donlin Gold project toward a construction/ production decision; maintain strong relationships with all stakeholders; continue to enhance the value of the Galore Creek project and monetize if warranted; safeguard our treasury; and promote a strong safety culture.

Conference Call & Webcast Details

NOVAGOLD’s conference call and webcast to discuss these results will take place on June 27, 2017 at 8:00 am PT (11:00 am ET). The webcast and conference call-in details are provided below.

The webcast will be archived on NOVAGOLD’s website for one year.  To request a transcript of the call, please send us an email to info@novagold.com.

About NOVAGOLD

NOVAGOLD is a well-financed precious metals company focused on the permitting and development of its 50%-owned Donlin Gold project in Alaska, one of the safest mining jurisdictions in the world. With approximately 39 million ounces of gold in the measured and indicated resource categories, inclusive of proven and probable reserves (541 million tonnes at an average grade of approximately 2.2 grams per tonne), Donlin Gold is regarded to be one of the largest, highest grade, and most prospective known gold deposits in the world. According to the Second Updated Feasibility Study (as defined below), once in production, Donlin Gold is expected to produce an average of more than one million ounces per year over a 27-year mine life on a 100% basis. The Donlin Gold project has substantial exploration potential beyond the designed footprint which currently covers only three kilometers of an approximately eight-kilometer long gold-bearing trend. Current activities at Donlin Gold are focused on permitting, optimization studies, community outreach and workforce development in preparation for the construction and operation of this top tier asset. NOVAGOLD also owns 50% of the Galore Creek copper-gold-silver project located in northern British Columbia. According to the 2011 Pre-Feasibility Study (as defined below), once in production, Galore Creek is expected to be the largest copper mine in Canada, a tier-one mining jurisdiction. NOVAGOLD anticipates selling all or a portion of its interest in Galore Creek and would apply the proceeds toward the development of Donlin Gold. With a strong balance sheet, NOVAGOLD is well positioned to stay the course and take Donlin Gold through permitting.

Scientific and Technical Information

Scientific and technical information contained herein with respect to Donlin Gold is derived from the “Donlin Creek Gold Project Alaska, USA NI 43-101 Technical Report on Second Updated Feasibility Study” compiled by AMEC with an effective date of November 18, 2011, as amended January 20, 2012  (the “Second Updated Feasibility Study”).  Kirk Hanson, P.E., Technical Director, Open Pit Mining, North America, (AMEC, Reno), and Gordon Seibel, R.M. SME, Principal Geologist, (AMEC, Reno) are the Qualified Persons responsible for the preparation of the independent technical report, each of whom are independent “qualified persons” as defined by NI 43-101.

Certain scientific and technical information contained herein with respect to Galore Creek is derived from the technical report entitled “Galore Creek Project British Columbia NI 43-101 Technical Report on Pre-Feasibility Study” dated effective July 27, 2011 (the “2011 Pre-Feasibility Study”). The Qualified Persons responsible for the preparation of the independent technical report are Greg Kulla, P. Geo., Principal Geologist (AMEC Americas Limited), and Jay Melnyk, P. Eng. (AMEC Americas Limited), each of whom are independent “qualified persons” as defined by NI 43-101.

Clifford Krall, P.E., who is the Mine Engineering Manager for NOVAGOLD and a “qualified person” under NI 43-101, has approved the scientific and technical information related to the Donlin Gold and Galore Creek projects contained in this press release.

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, the timing of permitting and potential development of Donlin Gold, statements relating to NOVAGOLD’s future operating and financial performance, outlook, and the potential sale of all or part of NOVAGOLD’s interest in Galore Creek are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. These forward-looking statements may include statements regarding the 2017 outlook; exploration potential of Donlin Gold; perceived merit of properties; anticipated timing and content of an updated feasibility study; anticipated permitting timeframes; exploration results and budgets; mineral reserve and resource estimates; work programs; capital expenditures; timelines; strategic plans; completion of transactions; market prices for precious and base metals; or other statements that are not statements of fact. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from NOVAGOLD’s expectations include the uncertainties involving the need to obtain permits and governmental approvals; the need for additional financing to explore and develop properties and availability of financing in the debt and capital markets; uncertainties involved in the interpretation of drilling results and geological tests and the estimation of reserves and resources; the need for continued cooperation with Barrick Gold Corporation and Teck Resources Limited for the continued exploration and development of the Donlin Gold and Galore Creek properties, respectively; the need for cooperation of government agencies and native groups in the development and operation of properties; risks of construction and mining projects such as accidents, equipment breakdowns, bad weather, non-compliance with environmental and permit requirements, unanticipated variation in geological structures, ore grades or recovery rates; unexpected cost increases, which could include significant increases in estimated capital and operating costs; fluctuations in metal prices and currency exchange rates; and other risk and uncertainties disclosed in NOVAGOLD’s Annual Report filed on Form 10-K for the year-ended November 30, 2016 with the United States Securities and Exchange Commission, Canadian securities regulators, and in other NOVAGOLD reports and documents filed with applicable securities regulatory authorities from time to time. NOVAGOLD’s forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made. NOVAGOLD assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

Cautionary Note to United States Investors

This press release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Unless otherwise indicated, all resource and reserve estimates included in this press release have been prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and the Canadian Institute of Mining, Metallurgy and Petroleum (CIM)—CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (“CIM Definition Standards”). NI 43-101 is a rule developed by the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission (SEC), and resource and reserve information contained herein may not be comparable to similar information disclosed by U.S. companies. In particular, and without limiting the generality of the foregoing, the term “resource” does not equate to the term “reserves”. Under U.S. standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. The SEC’s disclosure standards normally do not permit the inclusion of information concerning “measured mineral resources”, “indicated mineral resources” or “inferred mineral resources” or other descriptions of the amount of mineralization in mineral deposits that do not constitute “reserves” by U.S. standards in documents filed with the SEC. Investors are cautioned not to assume that all or any part of “measured” or “indicated resources” will ever be converted into “reserves”. Investors should also understand that “inferred mineral resources” have a great amount of uncertainty as to their existence and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of the “inferred resources” will ever be upgraded to “indicated resource”, “measured resource”, or “mineral reserve” status. Under Canadian rules, estimated “inferred mineral resources” may not form the basis of feasibility or pre-feasibility studies except in rare cases. Investors are cautioned not to assume that all or any part of an “inferred mineral resource” exists or is economically or legally mineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in-place tonnage and grade without reference to unit measures. The requirements of NI 43-101 for identification of “reserves” are also not the same as those of the SEC, and reserves reported by NOVAGOLD in compliance with NI 43-101 may not qualify as “reserves” under SEC standards. Neither Donlin Gold nor Galore Creek have known reserves, as defined under SEC Industry Guide 7.  Accordingly, information concerning mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.

CONTACT: NOVAGOLD Contacts:
Mélanie Hennessey
Vice President, Corporate Communications

Erin O’Toole
Senior Stakeholder Relations Specialist

604-669-6227 or 1-866-669-6227

VANCOUVER, British Columbia, June 26, 2017 (GLOBE NEWSWIRE) — Metallis Resources Inc. (TSX-V:MTS) (“Metallis” or the “Company”) further to its news release dated April 6, 2017 and May 8, 2017, the Company has closed the second and final tranche of its private placement raising  proceeds of $157,320. This is in addition to the $338,980 raised in the first tranche, for total proceeds of $496,300.

The Company has issued 874,000 Units at a price of $0.18 per Unit. Each $0.18 Unit consists of one (1) common share of the Company (each, a “Share”) and one-half (1/2) of one non-transferable share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable for the purchase of one (1) additional Share at a price of $0.35 per Share for a period of two (2) years.

All warrants issued in connection with this financing are subject to an acceleration clause. If in the two year period and after the expiry of the 4 month hold period, the Company may accelerate the expiry date to 30 days after the last of ten (10) consecutive days if and whereby the closing price of the Company’s shares is greater than or equal to $0.50 per share.

All securities issued under the private placement are subject to a hold period expiring four months and one day from the date of issuance pursuant to applicable Canadian securities laws and the rules of the TSX Venture Exchange. The closing of the Private Placement is subject to TSX Venture Exchange approval. Directors and management subscribed for $46,800 of the second tranche closing.

Proceeds from the private placement will be used for general working capital and the 2017 exploration program. The exploration program will be carried out in two phases over the course of the summer.

On behalf of the Board of Directors:

/s/ “Fiore Aliperti”
Chief Executive Officer, President and Director

For further information:
Tel: 604-688-5077
Email: info@metallisresources.com
Web: www.metallisresources.com

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This Press Release may contain statements which constitute ‘forward-looking’ statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including quarterly and annual Management’s Discussion and Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX-V Stock Exchange has neither approved nor disapproved the contents of this news release.

CALGARY, Alberta, June 26, 2017 (GLOBE NEWSWIRE) — Critical Control Energy Services Corp. (“Critical Control” or the “Corporation”) (TSX:CCZ) is providing an important update to investors buying common shares of the Corporation.

Critical Control has proposed a plan of arrangement (the “Plan of Arrangement”), the details of which are contained in an information circular dated May 26, 2017 (the “Information Circular”) mailed to all shareholders of record as of May 25, 2017 for the Corporation’s Annual and Special Meeting of Shareholders to be held on June 29, 2017, and in press releases dated May 11, 2017, June 13, 2017, and June 20, 2017.

Under the proposed Plan of Arrangement, all shareholders must return a properly completed Letter of Transmittal and Election Form to Computershare Trust Company of Canada at its principal offices in Calgary or Toronto prior to the election deadline of 10:00 am (Calgary time), June 27, 2017 (the “Election Deadline”). Any shareholder who holds their common shares in a brokerage account, must contact their broker to advise their election such that the broker can complete the Letter of Transmittal and Election Form on their behalf prior to the Election Deadline.

All holders of common shares who have failed to elect to keep their common shares or exchange them for preferred shares by the Election Deadline, is at risk of having some or all of their common shares exchanged for preferred shares under the proposed Plan of Arrangement (the “Automated Coversion”).

ALL PURCHASERS OF COMMON SHARES OF THE CORPORATION TAKE NOTE:

1. ALL TRADES THAT SETTLE BEFORE THE ELECTION DEADLINE AND FOR WHICH THE PURCHASER FAILS TO MAKE A VALID ELECTION PRIOR TO THE ELECTION DEADLINE; AND
    
2. ALL TRADES THAT SETTLE AFTER THE ELECTION DEADLINE AND PRIOR TO THE COMPLETION OF THE PROPOSED PLAN OF ARRANGEMENT;

ARE ALL SUBJECT TO THE AUTOMATED CONVERSION.

About Critical Control

Critical Control provides solutions for the collection, control and analysis of measurement and operational data related to oil and gas wells across North America.  We provide services to capture the data, cloud-based software to visualize and manage it and the business intelligence to make quicker and more informed operational decisions.

CONTACT: For further information 
Alykhan Mamdani
President & CEO
Tel (403) 705-7500