News Article | May 25, 2017
Environmental Specialties, Inc. (ESI), the largest contracted installer of geosynthetic materials in the United States, is pleased to welcome David Nolting to its team as Corporate Health and Safety Manager. “We created this new position because it continues to demonstrate our deep commitment to lead with safety in every aspect of our business,” stated ESI President Mark Dillon. “David has an extensive background in the power industry and as a Certified Utility Safety Administrator will certainly enhance our already strong, industry-leading safety record.” In this role, Nolting will ensure that ESI’s safety program continues to set the bar for the rest of the industry. With Nolting as a dedicated safety resource, ESI will continue to put safety first throughout all phases of every project – from bid review through installation to completion. Nolting has held various safety positions throughout the last 28 years with extensive experience in the power, pipeline and construction markets. He graduated from Loyola University with a Bachelor of Criminal Justice and a Master of Science and Psychology. About Environmental Services, Inc. Environmental Specialties International, Inc. (ESI) is the largest contracted installer of geosynthetic materials in the United States. The company has installed nearly 2 Billion square feet of geosynthetics, involving more than 2,000 projects in all 50 states. ESI provides geosynthetic material supply and installation services to the municipal solid waste, hazardous waste, power, petrochemical, mining, water, aqua/agriculture and other related industries. The company also fabricates, installs, and provides design support for High-Density Polyethylene (HDPE) plastic pipe systems for the transportation of water, leachate and gas. For more information visit http://www.esiliners.com
News Article | February 15, 2017
TORONTO, ONTARIO--(Marketwired - Feb. 13, 2017) - Denison Mines Corp. ("Denison" or the "Company") (TSX:DML)(NYSE MKT:DNN) is pleased to announce the closing of its previously announced financing arrangement with Anglo Pacific Group PLC ("APG"), and its wholly owned subsidiary Centaurus Royalties Ltd. ("Centaurus"), for aggregate gross proceeds to Denison of CAD$43,500,000 (the "Financing"). The Financing is comprised of (1) a 13-year limited recourse lending arrangement involving a loan from APG to 9373721 Canada Inc. ("SPV"), and a further loan from SPV to Denison Mines Inc. ("DMI") (the "SPV Loan"), each for CAD$40,800,000 (collectively, the "Lending Arrangement"), and (2) CAD$2,700,000 in proceeds from the sale, to Centaurus, of a stream equal to Denison's 22.5% share of the proceeds from the toll milling of certain Cigar Lake ore by the McClean Lake mill, once throughput from the McClean Lake mill exceeds 215 million lbs U O , from ore received from the Cigar Lake mine on or after July 1, 2016 (the "Stream Arrangement"). DMI and SPV are both wholly owned subsidiaries of Denison. Each of APG, Centaurus, SPV and DMI have satisfied all conditions precedent to the Financing and the funding of the gross proceeds has been confirmed. Following the completion of the Financing, Denison continues to own its 22.5% strategic interest in the McClean Lake Joint Venture ("MLJV"), including the fully licensed and operating McClean Lake uranium mill, which is situated in the infrastructure rich eastern portion of the Athabasca Basin in northern Saskatchewan. Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan. Including its 60% owned Wheeler River project, which hosts the high grade Phoenix and Gryphon uranium deposits, Denison's exploration portfolio consists of numerous projects covering over 350,000 hectares in the infrastructure rich eastern Athabasca Basin. Denison's interests in Saskatchewan also include a 22.5% ownership interest in the McClean Lake joint venture, which includes several uranium deposits and the McClean Lake uranium mill, which is currently processing ore from the Cigar Lake mine under a toll milling agreement, plus a 25.17% interest in the Midwest deposit and a 63.01% interest in the J Zone deposit on the Waterbury Lake property. Both the Midwest and J Zone deposits are located within 20 kilometres of the McClean Lake mill. Denison is also engaged in mine decommissioning and environmental services through its Denison Environmental Services division and is the manager of Uranium Participation Corp., a publicly traded company which invests in uranium oxide and uranium hexafluoride. Certain information contained in this press release constitutes "forward-looking information", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation concerning the business, operations and financial performance and condition of Denison. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "believes", or the negatives and/or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". In particular, this press release contains forward-looking information pertaining to the following: the closing of the Financing, the material terms of the Financing and the anticipated use of proceeds and Denison's ability to derive the anticipated benefits thereof. Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. Denison believes that the expectations reflected in this forward-looking information are reasonable but there can be no assurance that such statements will prove to be accurate and may differ materially from those anticipated in this forward looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the "Risk Factors" in Denison's Annual Information Form dated March 24, 2016 available under its profile at www.sedar.com and in its Form 40-F available at www.sec.gov/edgar.shtml. These factors are not, and should not be construed as being, exhaustive. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this press release to conform such information to actual results or to changes in its expectations except as otherwise required by applicable legislation. Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Mineral Resources: This press release may use the terms "measured", "indicated" and "inferred" mineral resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable.
News Article | March 1, 2017
SAN JOSE, Calif., March 01, 2017 (GLOBE NEWSWIRE) -- Skyline Healthcare Center, a 253 bed skilled nursing facility in San Jose, recently received a prestigious gold designation by the California Nursing Home Quality Care Collaborative Recognition Program. Health Services Advisory Group, a Medicare Quality Innovation Network-Quality Improvement Organization that is funded by the Centers for Medicare & Medicaid Services is tasked with spearheading the National Nursing Home Quality Care Collaborative in California. The Collaborative is a five-year project that runs through July 31, 2019 and focuses on supporting the adoption of Quality Assurance and Performance Improvement in skilled nursing facilities through collaborative learning and action networks. Each participant facility receives a composite score comprised of 13 long-stay quality measures that represent larger systems within the long-term care setting. Skyline Healthcare Center achieved a composite score which earned the facility a gold designation. “Skyline Healthcare Center is an example of the great things that can be accomplished when skilled nursing facilities commit to clinical and service excellence,” said Christine Zack, Executive Vice President, Chief Strategy Officer, for Mariner Health Central, Inc. “Recognizing that patients and their families are often introduced to skilled nursing facilities during a particularly stressful chapter in their lives, Mariner Health Central remains committed to providing the necessary support to its client skilled nursing facilities to facilitate the prioritization of quality empathetic care above all else. While the entire Skyline Healthcare Center team received this designation because they have demonstrated an unwavering commitment to the patient experience, Joseph Colcol, the facility Administrator, is particularly deserving of this recognition.” Mr. Colcol, who has a Bachelor of Science in Mechanical Engineering, started his career in healthcare as a Mechanical Plant Supervisor for a hospital in the Philippines. In 1991, he moved to the United States and worked as an Environmental Services Manager for a skilled nursing facility from Monday through Friday, working weekends as a maintenance man at a second facility while also working full time for the United States Postal Service as a Mail Handler. Mr. Colcol worked all three jobs for almost eight years but always wanted to become a Licensed Nursing Home Administrator. Mr. Colcol stated “I thought that to be a good Administrator, I should pursue nursing and squeeze it in between my hectic work schedule.” All of Mr. Colcol’s hard work paid off when he graduated in 2001 with honors and passed the LVN board exam. At that time, he gave up working for the Postal Service and continued working as an Environmental Services Manager in the morning and an LVN at night. During that time period, he worked as a Charge Nurse, a Treatment Nurse, an MDS Assistant, and finally a Director of Staff Development. Mr. Colcol further noted “I was lucky to have Administrators who asked me to cover for other Departments when they were on vacation and I took advantage of learning what their job entails.” In 2008, after giving an in-service on Activities of Daily Living in an Administrator and Director of Nurses meeting, Mr. Colcol was asked if he was interested in an open Administrator position in Hayward. Eventually, Mr. Colcol became the Administrator of Skyline Healthcare Center where he won Administrator of the Year two years in a row and the facility was also given a Presidential Award for immediately helping victims of calamity during the recent hurricane in the Philippines. Today, Mr. Colcol remains committed to his patients, his employees and the long term care industry and affirms that “with all the changes in the healthcare industry, one thing remains constant at Skyline Healthcare Center. . . Quality of Care." About Mariner Health Central, Inc. Mariner Health Central, Inc. operates under the trade name Mariner Health Care and provides operational, clinical and administrative support services to skilled nursing facilities in California. Mariner Health Central’s client facilities offer skilled nursing, rehabilitation, social and nutritional services, activity programs, and other related services.
News Article | February 15, 2017
TULSA, OK--(Marketwired - February 14, 2017) - RJD Green ( : RJDG), announced the first franchise sale of the Silex Interiors, an operation of the Silex Holdings Division of RJD Green Inc. As part of the $600 billion dollar construction industry sector, Silex Holdings Division looks to expand its market presence with the launch of their franchise segment. As a franchisor, the ability to expand will require far less capital and provide faster growth, increased profitability, and increased organizational leverage. RJD Green Inc. announced the awarding of its initial franchise to be located in Tulsa Oklahoma. Ron Brewer, CEO of RJD Green Inc. states, "Our initial franchise is part of the Master Franchise Agreement awarded to Silex Franchise Services, Inc., and will be located in Tulsa Oklahoma. This initial Silex franchise will be the franchise model in regards to facility and operations for other units that will be brought forward in full launch in 2017 and 2018." Brewer further stated; "From our Officers and Directors franchising experience, we feel that all the components required for a unique franchising opportunity have been established, which allows a franchisee to acquire a real nuts and bolts industrial business opportunity that will require business management and sales capabilities only. From establishing the initial franchise, our focus will be to bring forward four to eight additional franchise locations in our first twelve months of franchising the Silex Interiors opportunity. By launching the Silex franchising opportunity, we continue to implement our growth plan for Silex Holdings by expanding our market segments, and creating a faster growth rate of revenues and profitability." Clay Cooley, spokesperson for Silex Franchise Services said; "We are excited to be on the ground floor of this franchise opportunity as a Master Franchisee. We expect to generate over $1,000,000 in revenue in year one and over $2,000,000 in year two revenue. We have executed a management agreement with Silex Holdings for the operation of our first unit. We feel this is an excellent profit opportunity for both parties creating a win-win business opportunity." The Company operates as a holding company with a focus of acquiring and managing assets and companies. RJD Green operates in three divisions: RJD Green Healthcare Services Division, which holds interest in IoSoft Inc, a company that provides discrete payment technologies, services and software that can be integrated into targeted offerings for healthcare provider networks, hospitals, healthcare payers and individual providers: Earthlinc Environmental Services Division, which provides green environmental services and technologies; Silex Holdings Division, which is engaged in specialty construction and industrial manufacturing and fills a market niche between the Home Depots and local contractors. Silex offers installed granite/other counter tops, cabinets and related products to the residential builder, commercial contractor, remodel contractor and retail customer. Visit http://www.rjdgreen.com This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events of future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluation such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
News Article | February 22, 2017
NORWELL, Mass.--(BUSINESS WIRE)--Clean Harbors, Inc. (“Clean Harbors”) (NYSE: CLH), the leading provider of environmental, energy and industrial services throughout North America, today announced financial results for the fourth quarter and year ended December 31, 2016. Revenues for the fourth quarter of 2016 were $692.1 million, compared with $713.0 million in the same period a year ago. Income from operations was $21.9 million in the fourth quarter of 2016, compared with $25.5 million in the same period in 2015. Fourth-quarter 2016 net loss was $12.7 million, or $0.22 per share, which included non-cash tax-related valuation allowances totaling $9.6 million. The Company reported an adjusted net loss for the fourth quarter of 2016 of $3.4 million, or $0.06 per share. Net income for the fourth quarter of 2015 was $0.6 million, or $0.01 per diluted share. Net loss and adjusted net loss results for the fourth quarter of 2016 and net income results for the fourth quarter of 2015 included pre-tax integration and severance costs of $5.9 million and $4.5 million, respectively. Adjusted EBITDA (see description below) in the fourth quarter of 2016 was $95.9 million, or a margin of 13.9%, compared with $97.2 million, or a margin of 13.6%, in the same period of 2015. “Our fourth-quarter results were largely in line with our expectations,” said Alan S. McKim, Chairman, President and Chief Executive Officer. “On the top line, we saw strong revenue growth from our Safety-Kleen business, which helped offset year-end weakness in the energy and industrial markets that affected several other segments. Adjusted EBITDA came in at the lower end of our range, primarily due to higher-than-expected severance costs incurred as we accelerated some cost reductions planned for 2017. Despite the lower revenue, our gross margin in the quarter was 150 basis points higher than a year ago as a result of our comprehensive cost-reduction efforts.” Beginning with the fourth quarter of 2016, Clean Harbors has reduced the number of its reportable segments. SK Environmental Services and Kleen Performance Products have been combined into a single reporting segment called ‘Safety-Kleen.’ This reflects the increasing interdependencies between these businesses, highlighted by the Company’s OilPlus™ closed-loop initiative and the recent appointment of David Vergo as President of Safety-Kleen. In addition, the Company’s Oil and Gas Field Services and Lodging Services businesses are now shown on a combined reporting basis under the heading ‘Oil, Gas and Lodging Services.’ “In the fourth quarter, our Safety-Kleen segment continued its strong top-line performance, increasing revenues by 15% and profitability by 35%. This growth was supported by higher base oil and lubricant pricing and acquisitions. Revenues from Technical Services declined from a year ago due to industrial weakness, project deferrals and reduced year-end customer spending. Incinerator utilization was strong – increasing to 90% – while our fourth-quarter landfill volumes fell 28% from those in the prior year. Within Industrial and Field Services, we increased profitability despite lower revenue resulting from the sale of our Catalyst Services business and weakness in Western Canada. The year-over-year slowdown in energy markets continued to pressure our Oil, Gas and Lodging Services business,” McKim said. Revenues for 2016 were $2.76 billion, compared with $3.28 billion in 2015. Revenues in 2015 included approximately $314 million of large-scale emergency response projects. GAAP net loss for 2016 was $39.9 million, or $0.69 per share, which included the non-cash tax-related valuation allowances primarily related to Canadian operations totaling $22.6 million, a $34.0 million non-cash goodwill impairment charge and a $15.4 million gain on sale of a business. This compared with net income for 2015 of $44.1 million, or $0.76 per diluted share, which included a $30.0 million non-cash goodwill impairment charge. Excluding the negative tax impacts, goodwill impairment charges and gain on sale of a business, the Company reported an adjusted net income for 2016 of $1.3 million, or $0.02 per diluted share, compared with $74.1 million, or $1.27 per diluted share, in 2015. Net loss and adjusted net income for 2016 included $24.4 million of pre-tax integration and severance costs; 2015 net income included $11.0 million of pre-tax integration and severance costs. Adjusted EBITDA (see description below) was $400.4 million in 2016, compared with $504.2 million in 2015. Adjusted EBITDA in 2015 included a contribution of approximately $76 million from large-scale emergency response projects. “The Company was severely impacted in 2016 by the deterioration in crude oil pricing which resulted in reduced lube oil prices, lower industrial production and further weakness in the North American energy marketplace,” McKim said. “Faced with these adverse market conditions, we focused our energies on controlling the areas we could, eliminating more than $100 million of costs over the course of the year. The Company also moved forward with several key strategic initiatives including the completion of seven acquisitions to support our OilPlus closed-loop direct sales model and our environmental businesses. Additionally, our team delivered the best safety performance in our history, improving our safety record for the fourth consecutive year, as we protected our employees, customers and communities.” “Through the first two months of 2017, we have seen positive signs across a number of our markets,” McKim said. “Energy markets are slowly improving, with crude oil prices recently stabilizing in the $50 range. This has led to an increase in rig counts. The rise in energy activity also has modestly increased base oil and lubricant prices, even during a seasonally slower period. We are starting to see a growing pipeline of potential projects for this year, and an improving industrial and energy environment should help spur customer spending, which has been constrained for the past several years. “The newest addition to our incinerator network became operational in early 2017 in El Dorado, Arkansas. This facility will provide a boost to Technical Services as we work toward maximizing its capacity in the years ahead. Our OilPlus closed-loop offering should grow steadily throughout 2017, following the national launch of our packaged lubricants in late 2016 and the introduction of bulk lubricants delivery in additional metropolitan areas this year. We also will continue our comprehensive cost-reduction efforts, including maximizing synergies from acquisitions, optimizing transportation and network efficiencies and internalizing more third-party spending,” McKim concluded. Based on its 2016 financial performance and current market conditions, Clean Harbors expects full-year 2017 Adjusted EBITDA in the range of $435 million to $475 million. A reconciliation of the Company’s Adjusted EBITDA guidance to net income guidance is included below. On a GAAP basis, the Company’s guidance is based on 2017 net income in the range of $4 million to $35 million. Adjusted net income for 2017, which includes the recognition of the non-cash tax benefits in Canada and valuation allowances, is in the range of $24 million to $48 million. A reconciliation of the Company’s Adjusted EBITDA guidance and adjusted net income to net income guidance is included below. Clean Harbors reports Adjusted EBITDA, which is a non-GAAP financial measure and should not be considered an alternative to net income or other measurements under generally accepted accounting principles (GAAP), but viewed only as a supplement to those measurements. The Company believes that Adjusted EBITDA provides additional useful information to investors since the Company’s loan covenants are based upon levels of Adjusted EBITDA achieved and the fact that management routinely evaluates the performance of its businesses based upon levels of Adjusted EBITDA. The Company defines Adjusted EBITDA consistently and in accordance with its existing credit agreement, as described in the following reconciliation showing the differences between reported net (loss) income and Adjusted EBITDA for the three months and years ended December 31, 2016 and 2015 (in thousands): This press release includes a discussion of income from operations adjusted for the goodwill impairment charge identified in the reconciliation provided below. This press release also includes a discussion of net (loss) income and (loss) earnings per share adjusted for the non-cash impact of unbenefited tax losses in Canada and valuation allowances, the goodwill impairment charge and gain on sale of business identified in the reconciliations provided below. The Company believes that discussion of these additional non-GAAP measures provides investors with meaningful comparisons of current results to prior periods’ results by excluding items that the Company does not believe reflect its fundamental business performance. The following shows the difference between income from operations to adjusted income from operations, net (loss) income to adjusted net (loss) income and (loss) earnings per share to adjusted (loss) earnings per share for the three months and years ended December 31, 2016 and 2015 (in thousands, except per share amounts): An itemized reconciliation between projected net income and projected Adjusted EBITDA is as follows: An itemized reconciliation between projected net income and projected adjusted net income is as follows: Clean Harbors will conduct a conference call for investors today at 9:00 a.m. (ET) to discuss the information contained in this press release. On the call, management will discuss Clean Harbors’ financial results, business outlook and growth strategy. Investors who wish to listen to the webcast and view the accompanying slides should visit the Investor Relations section of the Company’s website at www.cleanharbors.com. The live call also can be accessed by dialing 201.689.8881 or 877.709.8155 prior to the start of the call. If you are unable to listen to the live call, the webcast will be archived on the Company’s website. Clean Harbors (NYSE: CLH) is North America’s leading provider of environmental, energy and industrial services. The Company serves a diverse customer base, including a majority of the Fortune 500, across the chemical, energy, manufacturing and additional markets, as well as numerous government agencies. These customers rely on Clean Harbors to deliver a broad range of services such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services. Through its Safety-Kleen subsidiary, Clean Harbors also is North America’s largest re-refiner and recycler of used oil and a leading provider of parts washers and environmental services to commercial, industrial and automotive customers. Founded in 1980 and based in Massachusetts, Clean Harbors operates throughout the United States, Canada, Mexico and Puerto Rico. For more information, visit www.cleanharbors.com. Any statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans to,” “estimates,” “projects,” or similar expressions. Such statements may include, but are not limited to, statements about future financial and operating results, the Company’s planned carve-out and other statements that are not historical facts. Such statements are based upon the beliefs and expectations of Clean Harbors’ management as of this date only and are subject to certain risks and uncertainties that could cause actual results to differ materially including, without limitation, those items identified as “risk factors” in Clean Harbors’ most recently filed Form 10-K and Form 10-Q. Therefore, readers are cautioned not to place undue reliance on these forward-looking statements. Clean Harbors undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements other than through its filings with the Securities and Exchange Commission, which may be viewed in the “Investors” section of Clean Harbors’ website at www.cleanharbors.com.
News Article | February 22, 2017
THUNDER BAY, ONTARIO--(Marketwired - Feb. 22, 2017) - Benton Resources Inc. (TSX VENTURE:BEX) ("Benton" or "the Company") is pleased to announce that the Company and its joint venture partner Nordmin Engineering Ltd. ("Nordmin") have advanced with the Environmental Assessment (EA) process for its Cape Ray Gold Project ("Project") located in Southwestern Newfoundland approximately 20 kilometers northeast of Port aux Basques. Provincially, a Project Description report (PD) was submitted to the Government of Newfoundland's Environmental Assessment Division in late June of 2016 and was accepted immediately without additional information requests and subsequently posted on the NL EA project registry website. After a 45 day internal review and public comment period the province determined that an Environmental Impact Statement (EIS) would be required and Draft (EIS) Guidelines for the EA were received in early November and final EIS Guidelines issued in late December 2016. Provincial EA related information and project documents can be viewed at: http://www.env.gov.nl.ca/env/env_assessment/projects/Y2016/1851/index.html The Federal EA process is progressing as well and a PD was recently submitted to the Canadian Environmental Assessment Agency (CEAA) satisfying all the requirements of the Canadian Environmental Assessment Act (CEAA 2012) and associated regulations. The PD was posted on the CEAA EA Project Registry on January 19th, 2017 and is currently under federal review and public comment period with a decision on whether a federal EA would be required is anticipated within 45 days. Federal EA related information and project documents can be viewed at: http://www.ceaa-acee.gc.ca/050/details-eng.cfm?evaluation=80136 Baseline environmental studies are currently being planned to begin in the spring of 2017 and continue through the late fall or as long as necessary to complete the biophysical field programs to support the EIS. A consulting company in Newfoundland has been engaged to assist with the planning and successful completion of the federal and provincial EAs and preparation of the EIS for the Project. Further, through ongoing correspondence with CEAA and NL EA officials by Nordmin it has been confirmed that if required, one EIS can be prepared to satisfy both federal and provincial EA requirements, thus streamlining the process for completion. Preparation for environmental permitting for the project will take place concurrent with EA activities to facilitate an early completion of the permitting process once the Project is approved and all EA obligations have been met. "Support for this project has been overwhelming from the local municipality, the provincial regulatory authorities and other stakeholders. Wherever our staff travels in the local communities, be it the local hardware store, hotels, or restaurants, many citizens have approached us and voiced strong support for our Project," said Giovanni (John) Sferrazza, Director of Environmental Services at Nordmin. "This Project will also bring much needed economic benefits to this region of the province; our project team is fully aware of our corporate social responsibility and is absolutely committed to ensuring that this project is conceived and developed from the base principle that we will absolutely minimize any impact to the environment. We have had that as a cornerstone of our efforts to date and will continue in that commitment right into operations and closure," states Sferrazza. Nordmin is earning up to a 50% interest in 4 of the 6 Cape Ray deposits (see Benton PR January 20, 2015) owned by Benton by completing various work programs and project milestones as well as carrying Benton to a full feasibility study and arranging 50% of project financing to production. In February of this year, the companies released the results of updated positive preliminary economic assessment ("PEA") for their Cape Ray Gold Project (see PR Feb 09, 2017). The results of the PEA include a pre-tax net present value ("NPV") at a 7% discount rate of $82.2 million with a pre-tax internal rate of return ("IRR") of 40% and a post-tax NPV at a 7% discount rate of $56.9 million with a post-tax IRR of 34%. The reader should be cautioned that the PEA is preliminary in nature. It contains inferred mineral resources that are considered too speculative to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. The proposed 2017 drill campaign will help bring some of the inferred resources into indicated which will help with the confidence level of the project as we move towards the feasibility study. Benton Resources Inc is a well-funded Canadian-based junior with a diversified property portfolio in Gold-Silver, Nickel, Copper, and Platinum group elements. Clinton Barr, PGeo, Vice-President of Exploration for Benton Resources Inc., is the qualified person responsible for this release and has prepared, supervised and approved the preparation of the scientific and technical disclosure contained within the release. On behalf of the Board of Directors of Benton Resources Inc., THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
News Article | February 23, 2017
EDMONTON, ALBERTA and NEW YORK, NEW YORK--(Marketwired - Feb. 23, 2017) - Stantec (TSX:STN)(NYSE:STN) closed fiscal year 2016 with a 49.5% increase in gross revenue when compared to the end of 2015, primarily due to contributions from five strategic acquisitions completed in the year. The Company also achieved a 9.8% increase in EBITDA and a 15.5% increase in adjusted EBITDA year over year. When comparing Q4 16 to Q4 15, gross revenue increased 74.7% mainly due to contributions from acquisitions completed in 2015 and 2016 and a 2.2% increase in organic revenue in the Infrastructure business operating unit. EBITDA increased 51.8%, and adjusted EBITDA increased 41.3% due to an increase in gross margin as a percentage of net revenue. Net income increased 16.2%; diluted earnings per share decreased 3.7%; and adjusted diluted earnings per share increased 2.9%. Annual results were primarily impacted by the acquisition of MWH Global, Inc. (MWH), the completion of a common share offering, and the renegotiation of Stantec's credit facilities. Adjusted EBITDA for 2016 was affected by a decrease in gross margin as a percentage of net revenue. In addition, administrative and marketing expenses increased due to MWH-related acquisition costs, professional fees, integration-related administration labor expenses, severance costs, and retention and merit payments to retain key employees during integration periods following acquisitions. Net income and diluted earnings per share were impacted by increases in net interest expense, amortization of intangible assets, the number of shares outstanding, and a higher effective income tax rate. The year 2016 was a history-making one for Stantec. In May, the Company completed its largest-ever acquisition--MWH. Complementing this were strategic acquisitions of four other companies: Bury Holdings, Inc.; VOA Associates, Inc.; Edwards & Zuck; and Architecture / Tkalcic Bengert. Each organization adds strength in key regions and sectors. In particular, the MWH acquisition greatly expands Stantec's global reach, adds construction to its service offerings, and strengthens the Company's work in infrastructure design, environmental services, and the water sector. As of January 1, 2017, in recognition of MWH's well-respected water infrastructure business and Stantec's long history in the sector, Stantec created a new business operating unit: Water. "Water infrastructure design has been core to Stantec since we began. With the addition of MWH, we now offer top-tier design expertise to water clients around the world," says Stantec president and CEO, Bob Gomes. "Creating a separate business operating unit for Water provides a higher level of leadership and visibility and positions us well for growth." Within Stantec's existing Consulting Services business operating units, growth in 2016 was most significant in Infrastructure, Environmental Services, and Buildings, largely due to contributions from acquisitions. Infrastructure saw a gross revenue increase of 58.8% when comparing 2016 to 2015. Gross revenue for the Environmental Services business operating unit increased 12.4% in 2016 compared to 2015. The Buildings business operating unit achieved a 6.9% increase in gross revenue. Gross revenue for Energy & Resources remained stable year over year and increased by 23.0% when comparing Q4 16 to Q4 15. The Infrastructure business operating unit grew organically by 3.7% in 2016, partly offsetting the organic revenue retraction in the Energy & Resources, Environmental Services, and Buildings business operating units. Overall, in 2016, organic gross revenue retracted by 5.6%. Construction Services earned $645.2 million in gross revenue since the MWH acquisition on May 6, 2016. On February 22, 2017, Stantec declared a cash dividend of $0.125 per share--an increase of 11.1% over last quarter--payable on April 13, 2017, to shareholders of record on March 31, 2017. On Thursday, February 23, at 2:00 PM MST (4:00 PM EST), Stantec's 2016 fourth quarter and year end conference call and slideshow presentation will be broadcast live and archived in their entirety in the Investors section of stantec.com. Participants wishing to listen to the call via telephone can dial in toll-free at 1-866-222-0265 (Canada and the United States) or 416-642-5209 (international). Please provide the operator with confirmation code 8719872. Stantec's Annual General Meeting of Shareholders will be held on Thursday, May 11, 2017, at 10:30 AM MDT (12:30 PM EDT) at Stantec Centre, 10160 - 112 Street NW, Edmonton, Alberta, Canada. We're active members of the communities we serve. That's why at Stantec, we always design with community in mind. The Stantec community unites approximately 22,000 employees working in over 400 locations across 6 continents. Our work--engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, construction services, project management, and project economics, from initial project concept and planning through to design, construction, commissioning, maintenance, decommissioning, and remediation--begins at the intersection of community, creativity, and client relationships. With a long-term commitment to the people and places we serve, Stantec has the unique ability to connect to projects on a personal level and advance the quality of life in communities across the globe. Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media. Stantec's EBITDA, adjusted EBITDA, and adjusted diluted earnings per share are non-IFRS measures. For a definition and explanation of non-IFRS measures, refer to the Critical Accounting Estimates, Developments, and Measures section of the Company's 2016 Annual Report. Certain statements contained in this news release constitute forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding how strategic acquisitions completed in 2016 and a new business operating unit for Water position the Company for growth. Any such statements represent the views of management only as of the date hereof and are presented for the purpose of assisting the Company's shareholders in understanding Stantec's operations, objectives, priorities, and anticipated financial performance as at and for the periods ended on the dates presented and may not be appropriate for other purposes. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements since a number of factors could cause actual future results to differ materially from the expectations expressed in these forward-looking statements. These factors include, but are not limited to, the risk of an economic downturn, changing market conditions for Stantec's services, and the risk that the acquisitions contemplated in this news release will not achieve anticipated results. Investors and the public should carefully consider these factors, other uncertainties, and potential events, as well as the inherent uncertainty of forward-looking statements, when relying on these statements to make decisions with respect to our Company. For more information about how other material risk factors could affect results, refer to the Risk Factors section and Cautionary Note Regarding Forward-Looking Statements in our 2016 Annual Report. Stantec's 40-F has been filed with the SEC, and you may obtain this document by visiting EDGAR on the SEC website at sec.gov. You may obtain our complete audited annual consolidated financial statements and associated Management's Discussion and Analysis for the year ended December 31, 2016 (which form our 2016 Annual Report) by visiting EDGAR on the SEC website at sec.gov, on the CSA website at sedar.com, or at stantec.com. Alternatively, you may obtain a hard copy of the 2016 Annual Report free of charge from our Investor Contact noted below. - Continued, Consolidated Statements of Financial Position and Consolidated Statements of Income attached -
News Article | February 23, 2017
HOUSTON, Feb. 23, 2017 (GLOBE NEWSWIRE) -- Sharps Compliance Corp. (Nasdaq:SMED) announced today that David P. Tusa, President and Chief Executive Officer, will be presenting at Gabelli & Company’s 3rd Annual Waste & Environmental Services Symposium, to be held at the Andaz 5th Avenue Hotel in New York City on Thursday, March 16, 2017. Headquartered in Houston, Texas, Sharps Compliance is a leading full-service national provider of comprehensive waste management services including medical, pharmaceutical and hazardous. Its key markets include healthcare facilities, pharmaceutical manufacturers, home healthcare providers, assisted living / long-term care, surgery centers, retail pharmacies and clinics, and the professional market which is comprised of physicians, dentists and veterinary practices. The Company's flagship product, the Sharps Recovery System, is a comprehensive solution for the containment, transportation, treatment and tracking of medical waste and other used healthcare materials. The Company also offers its route-based pick-up service in an eleven (11) state region of the Northeast portion of the United States as well as Texas and Louisiana. More information on the Company and its products can be found on its website at: www.sharpsinc.com
News Article | February 22, 2017
OKLAHOMA CITY, Feb. 22, 2017 /PRNewswire/ -- Oklahoma Environmental Services (OES) added Robert Lassiter to their team as testing services manager. Lassiter provides preventative below and above ground petroleum storage tank testing to businesses regulated by the Oklahoma Corporation Commi...
News Article | February 20, 2017
Environmental Specialties, Inc. (ESI), the largest contracted installer of geosynthetic materials in the United States, today announced the launch of an updated website designed to provide an improved user experience. In addition to the cleaner and more attractive design, a key feature of the site is the addition of a large project profile gallery that can be filtered by markets and solutions to help site visitors grasp the full extent of ESI services and applications. The more than 30 featured projects range from a geosynthetic liner system installation at a South Carolina gold mine to a geosynthetic base liner and cap system at a Superfund site in Texas to a Solid Waste Association of North America award-winning synthetic turf closure system in Florida. Filter options for viewing projects include the following industries: Solid Waste, Coal Combustion Residuals, Industrial, Mining, Aqua and Agriculture and Other. Users also have an option to sort by solutions including geosynthetic closure systems, geosynthetic liner systems and HDPE pipe and fabrication. The website is optimized for viewing on mobile devices with pages that load quickly and navigation that is easy to use and view on a smartphone or tablet. Visitors to the site can also stay informed on the latest company activities and news with a feed that provides a quick snapshot from the home page. We invite you to visit the updated site at http://www.esiliners.com About Environmental Services, Inc. Environmental Specialties International, Inc. (ESI) is the largest contracted installer of geosynthetic materials in the United States. The company has installed nearly 2 Billion square feet of geosynthetics, involving more than 2,000 projects in all 50 states. ESI provides geosynthetic material supply and installation services to the municipal solid waste, hazardous waste, power, petrochemical, mining, water, aqua/agriculture and other related industries. The company also fabricates, installs, and provides design support for High-Density Polyethylene (HDPE) plastic pipe systems for the transportation of water, leachate and gas. For more information visit http://www.esiliners.com