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News Article | February 23, 2017
Site: www.businesswire.com

WAYNE, Pa.--(BUSINESS WIRE)--Teleflex Incorporated (NYSE: TFX) (the “Company”) today announced financial results for the fourth quarter and year ended December 31, 2016. Fourth quarter 2016 net revenues were $513.9 million, an increase of 6.1% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, fourth quarter 2016 net revenues increased 6.9% over the year ago period. Fourth quarter 2016 GAAP diluted earnings per share from continuing operations decreased 31.4% to $1.29, as compared to $1.88 in the prior year period. The financial results for the quarter reflect non-cash impairment charges, net of tax of $26.1 million related to the Company's Semprus technology, which was somewhat offset by a related reversal of contingent consideration liabilities, net of tax of $8.3 million. As such, the net non-cash, after-tax impact associated with these items was $17.8 million. Fourth quarter 2016 adjusted diluted earnings per share from continuing operations increased 6.0% to $2.13, compared to $2.01 in the prior year period. Full year 2016 net revenues were $1,868.0 million, an increase of 3.2% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, full year 2016 net revenues increased 4.1% over the prior year. Full year 2016 GAAP diluted earnings per share from continuing operations increased 1.4% to $4.98, as compared to $4.91 in the prior year. Full year 2016 adjusted diluted earnings per share from continuing operations increased 16.0% to $7.34, compared to $6.33 in the prior year. “Teleflex delivered a strong finish to 2016 with revenue growth above our most recently provided guidance,” said Benson Smith, Chairman and Chief Executive Officer. “During the fourth quarter, each of our segments delivered solid performances, resulting in constant currency revenue growth of 6.9% and the attainment of an adjusted operating margin of 25.0%." Added Mr. Smith, "As we turn to 2017, thanks to stability in our end-markets, a robust product pipeline and the completion of the acquisition of Vascular Solutions ahead of our initial timetable, Teleflex is poised to deliver double-digit constant currency revenue growth and significant adjusted margin and adjusted earnings per share expansion." The following table provides information regarding net revenues in each of the Company's reportable operating segments and all of its other operating segments for the three months ended December 31, 2016 and December 31, 2015 on both a GAAP and constant currency basis. The discussion below the table of the principal factors behind changes in net revenues for the three months ended December 31, 2016 as compared to the prior year period applies to both GAAP revenue and constant currency revenue, although GAAP revenue also was affected by foreign currency exchange rate fluctuations, as indicated in the "Foreign Currency" column of the table. Vascular North America fourth quarter 2016 net revenues were $95.7 million, an increase of 5.9% compared to the prior year period on both a GAAP and constant currency basis. The increase in revenue was largely due to higher sales volumes of both existing and new products and price increases. Surgical North America fourth quarter 2016 net revenues were $48.3 million, an increase of 12.2% compared to the prior year period on both a GAAP and constant currency basis. The increase in revenue was largely due to higher sales volumes of both new and existing products and price increases. Anesthesia North America fourth quarter 2016 net revenues were $54.9 million, an increase of 8.5% compared to the prior year period on both a GAAP and constant currency basis. The increase in revenue was largely due to higher sales volumes of both existing and new products. EMEA fourth quarter 2016 net revenues were $135.7 million, an increase of 0.4% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, fourth quarter 2016 net revenues increased 3.0% compared to the prior year period. The constant currency revenue increase was largely due to higher sales volumes of both existing and new products, somewhat offset by a decline in the average selling prices of certain products. Asia fourth quarter 2016 net revenues were $73.0 million, an increase of 5.4% compared to the prior year period on both a GAAP and constant currency basis. The increase in revenue was largely due to higher sales volumes of both new and existing products and price increases. OEM and Development Services (“OEM”) fourth quarter 2016 net revenues were $45.3 million, an increase of 19.8% compared to the prior year period. Excluding the impact of foreign currency exchange rate fluctuations, fourth quarter 2016 net revenues increased 20.0% compared to the prior year period. The constant currency revenue increase was largely due to higher sales volumes of existing products and revenues generated by acquired businesses. OTHER FINANCIAL HIGHLIGHTS AND KEY PERFORMANCE METRICS Depreciation expense, amortization of intangible assets and deferred financing charges for 2016 totaled $128.3 million compared to $125.3 million for the prior year. Cash and cash equivalents at December 31, 2016 were $543.8 million compared to $338.4 million at December 31, 2015. Net accounts receivable at December 31, 2016 were $272.0 million compared to $262.4 million at December 31, 2015. Net inventories at December 31, 2016 were $316.2 million compared to $330.3 million at December 31, 2015. On a GAAP basis, revenues in 2017 are expected to increase 10.0% to 11.5% over the prior year, reflecting the anticipated 2.5% unfavorable impact of foreign currency exchange rate fluctuations. On a constant currency basis, the Company estimates that revenues for full year 2017 will increase 12.5% to 14.0%, which includes the impact of Vascular Solutions which is expected to contribute approximately 8.5% to 9.0%. The Company expects full year 2017 GAAP diluted earnings per share from continuing operations to be between $5.04 and $5.08. The Company expects adjusted diluted earnings per share from continuing operations to be between $8.00 and $8.15 for full year 2017, representing an increase of 9.0% to 11.0% over 2016, reflecting our expectation of an approximately 4.1% negative impact from foreign currency exchange rate fluctuations. As previously announced, Teleflex will comment on its financial results on a conference call to be held today at 8:00 a.m. (ET). The call will be available live and archived on the company’s website at www.teleflex.com and the accompanying presentation will be posted prior to the call. An audio replay will be available until March 28, 2017 at 11:59pm (ET), by calling 855-859-2056 (U.S./Canada) or 404-537-3406 (International), Passcode: 65576607. References in this release to the impact of foreign currency exchange rate fluctuations on adjusted diluted earnings per share include both the impact of translating foreign currencies into U.S. dollars and the impact of foreign currency exchange rate fluctuations on foreign currency denominated transactions. In the discussion of segment results, "new products" refers to products we have sold for 36 months or less, and "existing products" refers to products we have sold for more than 36 months. Certain financial information is presented on a rounded basis, which may cause minor differences. Segment results and commentary exclude the impact of discontinued operations. This press release includes certain non-GAAP financial measures, which include: Adjusted diluted earnings per share. This measure excludes, depending on the period presented (i) restructuring and other impairment charges; (ii) certain losses and other charges, including, for 2016, charges primarily related to facility consolidation and acquisition costs, net of reversals related to contingent consideration liabilities and the gain on sale of assets and, for 2015, charges related to facility consolidations, net of reversals related to contingent consideration liabilities, the medical device excise tax and a litigation verdict against the Company with respect to a non-operating joint venture; (iii) amortization of the debt discount on the Company’s convertible notes; (iv) intangible amortization expense; (v) loss on extinguishment of debt; and (vi) tax benefits resulting primarily from (1) the expiration of applicable statutes of limitations for prior year returns and/or the resolution of audits or filing of amended returns with respect to prior tax years, and (2) tax law changes affecting the Company's deferred tax liability. In addition, the calculation of diluted shares within adjusted earnings per share gives effect to the anti-dilutive impact of the Company’s convertible note hedge agreements, which reduce the potential economic dilution that otherwise would occur upon conversion of the Company’s senior subordinated convertible notes (under GAAP, the anti-dilutive impact of the convertible note hedge agreements is not reflected in diluted shares). Constant currency revenue growth. This measure excludes the impact of translating the results of international subsidiaries at different currency exchange rates from period to period. Management believes these measures are useful to investors because they eliminate items that do not reflect Teleflex’s day-to-day operations and, as a result, they facilitate comparisons of financial results exclusive of items that can fluctuate in a manner that may not reflect the performance of our business. In addition, management believes that the calculation of non-GAAP diluted shares is useful to investors because it provides insight into the offsetting economic effect of the convertible note hedge against conversions of the convertible notes. Management uses these financial measures for internal managerial purposes, when publicly providing guidance on possible future results, and to assist in our evaluation of period-to-period comparisons. These financial measures are presented in addition to results presented in accordance with generally accepted accounting principles (“GAAP”) and should not be relied upon as a substitute for GAAP financial measures. Tables reconciling historical adjusted diluted earnings per share to historical GAAP earnings per share are set forth below. Tables reconciling constant currency net revenues to GAAP net revenues and reconciling forecasted non-GAAP measures to the most directly comparable forecasted GAAP measures are set forth above. (A) In 2016, "other impairment charges" included (1) a pre-tax, non-cash $41.0 million impairment charge and $14.9 million reduction in related deferred tax liabilities in connection with the Company's Semprus technology; and (2) $2.4 million in pre-tax, non-cash impairment charges related to two properties, one of which was classified as an asset held for sale and $0.7 million reduction in related deferred tax liabilities. In 2015, there were no "other impairment charges." (B) In 2016, losses and other charges, net related primarily to reversals related to contingent consideration liabilities, including $8.3 million related to the Company's Semprus technology, somewhat offset by acquisition and facility consolidation costs. In 2015, losses and other charges, net related primarily to facility consolidations and reflect reversals of previously recorded charges related to contingent consideration liabilities and the medical device excise tax. (C) The tax adjustment represents a net benefit resulting primarily from (1) the expiration of applicable statutes of limitations for prior year returns and/or the resolution of audits or filing of amended returns with respect to prior tax years, and (2) tax law changes affecting our deferred tax liability. (D) Adjusted diluted shares are calculated by giving effect to the anti-dilutive impact of the Company’s convertible note hedge agreements, which reduce the potential economic dilution that otherwise would occur upon conversion of the Company's convertible notes. Under GAAP, the anti-dilutive impact of the convertible note hedge agreements is not reflected in diluted shares. (A) In 2016, "other impairment charges" included (1) a pre-tax, non-cash $41.0 million impairment charge and $14.9 million reduction in related deferred tax liabilities in connection with the Company's Semprus technology; and (2) $2.4 million in pre-tax, non-cash impairment charges related to two properties, one of which was classified as an asset held for sale and $0.7 million reduction in related deferred tax liabilities. In 2015, there were no "other impairment charges." (B) In 2016, losses and other charges, net related primarily to facility consolidation and acquisition costs, net of reversals related to contingent consideration liabilities, including $8.3 million related to the Company's Semprus technology, and the gain on sale of assets. In 2015, losses and other charges, net related primarily to facility consolidation costs and reflects reversals of previously recorded charges related to contingent consideration liabilities, the medical device excise tax and a litigation verdict against the Company with respect to a non-operating joint venture. (C) The tax adjustment represents a net benefit resulting primarily from (1) the expiration of applicable statutes of limitations for prior year returns and/or the resolution of audits or filing of amended returns with respect to prior tax years, and (2) tax law changes affecting our deferred tax liability. (D) Adjusted diluted shares are calculated by giving effect to the anti-dilutive impact of the Company’s convertible note hedge agreements, which reduce the potential economic dilution that otherwise would occur upon conversion of the Company's convertible notes. Under GAAP, the anti-dilutive impact of the convertible note hedge agreements is not reflected in diluted shares. Teleflex is a global provider of medical technologies designed to improve the health and quality of people’s lives. We apply purpose driven innovation - a relentless pursuit of identifying unmet clinical needs - to benefit patients and healthcare providers. Our portfolio is diverse, with solutions in the fields of vascular and interventional access, surgical, anesthesia, cardiac care, urology, emergency medicine and respiratory care. Teleflex employees worldwide are united in the understanding that what we do every day makes a difference. For more information, please visit teleflex.com. Teleflex is the home of Arrow®, Deknatel®, Hudson RCI®, LMA®, Pilling®, Rusch® and Weck® - trusted brands united by a common sense of purpose. This press release contains forward-looking statements, including, but not limited to, forecasted 2017 GAAP and constant currency revenue growth and GAAP and adjusted diluted earnings per share. Actual results could differ materially from those in the forward-looking statements due to, among other things, conditions in the end markets we serve, customer reaction to new products and programs, our ability to achieve sales growth, price increases or cost reductions; changes in the reimbursement practices of third party payors; our ability to realize efficiencies and to execute on our strategic initiatives; changes in material costs and surcharges; market acceptance and unanticipated difficulties in connection with the introduction of new products and product line extensions; product recalls; unanticipated difficulties in connection with the consolidation of manufacturing and administrative functions, including as a result of difficulties with various employees, labor representatives or regulators; the loss of skilled employees in connection with such initiatives; unanticipated difficulties, expenditures and delays in complying with government regulations applicable to our businesses; the impact of government healthcare reform legislation, including possible repeal, modification or replacement of the Patient Protection and Affordable Care Act; our ability to meet our debt obligations; changes in general and international economic conditions, including fluctuations in foreign currency exchange rates and the impact of the United Kingdom's vote to leave the European Union; and other factors described or incorporated in our filings with the Securities and Exchange Commission, including our most recently filed Annual Report on Form 10-K.


News Article | February 27, 2017
Site: www.marketwired.com

SAN FRANCISCO, CA--(Marketwired - February 27, 2017) - Sedgwick LLP is pleased to announce that Maggie T. Watkins has joined the firm as its chief marketing officer. She will lead the firm's international marketing and business development initiatives from its Kansas City office. With more than 25 years of professional services marketing expertise, Watkins is highly regarded as a law firm marketing thought leader whose strategic and innovative approaches garner exceptional results. Watkins joins Sedgwick after consulting with professional services companies throughout the U.S. in the areas of marketing, business development, management, training and coaching. She has also served as CMO for three AmLaw 200 law firms and a global publicly traded consulting firm, President and CEO of an international law firm association, and has worked at the executive level at several accounting firms. "For today's law firm, business development and marketing are critical to future growth and must be fully integrated with the firm's strategic planning and operations," said Sedgwick Chair Michael Healy. "Maggie brings years of experience creating, implementing and revitalizing innovative marketing programs as well as building and leading high-performing teams. We are excited to have her join the Sedgwick team and expand our marketing and business development efforts." Watkins is a recognized leader in law firm marketing, having served as the past chair of the international Legal Marketing Association (LMA). She is the former chief business development and marketing officer for Bradley Arant Boult Cummings where she oversaw the business development and marketing efforts of 500 attorneys in eight offices. Watkins held the same position at Best Best & Krieger LLP where she built successful business development, marketing and communications strategies for the firm's 225 lawyers in nine officers. She is the former president and chief executive officer of Meritas, a global alliance of 175 independent law firms located in 80 countries. Watkins also has held senior-level positions with The National University System, the second largest nonprofit institution of higher education in California and LECG, a publicly traded global expert services and consulting firm with 34 offices in 15 countries. Watkins earned her Bachelor of Arts degree from the University of California, Los Angeles. A passionate community and industry volunteer, she has received numerous awards for her non-profit service and support. About Sedgwick LLP Sedgwick LLP provides trial, appellate, litigation management, counseling, risk management and transactional legal services to the world's leading companies. With offices in Austin, Chicago, Dallas, Kansas City, London, Los Angeles, Miami, New York, Newark, Orange County (Calif.), San Francisco, Seattle and Washington, D.C., and an affiliated office in Bermuda, Sedgwick's collective experience spans the globe and virtually every industry. For more information about Sedgwick, its lawyers and the services it provides, visit www.sedgwicklaw.com.


NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Karmin Exploration Inc. ("Karmin" or the "Company") (TSX VENTURE:KAR)(LMA:KAR) is pleased to announce that it has closed its previously-announced non-brokered private placement financing (the "Offering") of 15,200,000 units ("Units") of Karmin for aggregate gross proceeds of CDN$3,800,000 (the "Offering"). As disclosed in the Company's press release dated January 12, 2017, each Unit was sold at a price of CDN$0.25 and consists of one Karmin common share (each a "Common Share") and one-half of one common share purchase warrant (each whole, a "Warrant"). Each Warrant is exercisable to acquire one Common Share at a price of CDN$0.35 per Common Share for a period of three years from closing of the Offering. All securities issued in the Offering are subject to a four-month hold from the date of issuance. Karr Securities Inc. ("Karr") subscribed for 8,312,000 Units in the Offering. Prior to closing of the Offering, Karr owned an aggregate of 14,353,727 Common Shares (representing approximately 23.5% of Karmin's issued Common Shares). Following closing of the Offering, Karr owns 29.7% (or 33.34% in the event that Karr exercised all of its convertible securities of the Company) of the Company's issued and outstanding Common Shares. As a result of its shareholdings, pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), the purchase by Karr of Units under the Offering was a "related party transaction". The Company was exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Offering in reliance of sections 5.5(a) and 5.7(a), respectively, of MI 61-101, as the fair market value of the Units to be acquired under the Offering by Karr did not exceed 25% of Karmin's market capitalization. The gross proceeds of the Offering will be used to repay an aggregate of CDN$3,586,971 in long term debt due to Karr and another major shareholder of the Company, and for general working capital. The Common Shares are listed on the TSX Venture Exchange and trade under the symbol "KAR". The principal business of Karmin is to acquire, explore and develop resource properties in Brazil and Peru. Karmin owns 30% of the Aripuanã Zinc Project, one of the largest undeveloped zinc projects in Brazil. The Aripuanã Zinc Project covers a mineralized massive-sulphide district that includes five areas of mineralization (Ambrex, Arex, Babaçú, Massaranduba and Mocoto) over a 25- kilometre strike length. Votorantim owns 70% of the Aripuanã zinc project, but assumes 100% of the project costs until the completion of a bankable feasibility study. Karmin also owns 100% interest in: (a) the Aripuanã Gold-Silver Project, which encompasses the gold and silver mineralization associated with near-surface oxidized portions of numerous massive-sulphide deposits in the 820-square-kilometre Aripuanã Zinc Project in north-western Brazil; and (b) the 25-square-kilometre Cushuro Gold Project located in the world-class Alto Chicama gold-mining district of northern Peru. This news release contains forward-looking statements that are based on the belief of management and reflect Karmin's current expectations. Forward-looking statements include, but are not limited to, possible events and statements. The words "plans," "expects," "is expected," "scheduled," "estimates," "forecasts," "projects," "intends," anticipates," or "believes," or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would," "might," or "will be taken," "occur," and similar expressions identify forward-looking statements. The forward-looking statements and information in this press release include, but are not limited to, information relating to the business plans of Karmin and the closing of the Offering. Such statements and information reflect the current view of Karmin with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information. The forward-looking statements contained in this news release are made as of the date of this news release. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Except as required by law, Karmin disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Karmin undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.


News Article | February 21, 2017
Site: www.businesswire.com

WAYNE, Pa.--(BUSINESS WIRE)--Liam Kelly, President and COO, Teleflex Incorporated (NYSE: TFX), is scheduled to speak at the Raymond James 38th Annual Institutional Investors Conference at the JW Marriott Grande Lakes in Orlando, Florida on Tuesday, March 7, 2017 at 3:25 p.m. (ET). A live audio webcast of the conference presentation, along with the accompanying slide presentation, will be available on the investor portion of the Teleflex website at www.teleflex.com. Teleflex is a global provider of medical technologies designed to improve the health and quality of people’s lives. We apply purpose driven innovation – a relentless pursuit of identifying unmet clinical needs – to benefit patients and healthcare providers. Our portfolio is diverse, with solutions in the fields of vascular and interventional access, surgical, anesthesia, cardiac care, urology, emergency medicine and respiratory care. Teleflex employees worldwide are united in the understanding that what we do every day makes a difference. For more information, please visit teleflex.com. Teleflex is the home of Arrow®, Deknatel®, Hudson RCI®, LMA®, Pilling®, Rusch® and Weck® – trusted brands united by a common sense of purpose.


News Article | February 15, 2017
Site: cen.acs.org

Gravitational waves are curious entities described as “ripples in spacetime” that radiate for billions of light-years as they traverse the universe. Albert Einstein predicted their existence in 1916 in his general theory of relativity. But it took a century until scientists were able to confirm that prediction experimentally. Last year, researchers reported that the ultrasensitive LIGO detectors, one of which is located in Livingston, La., the other in Hanford, Wash., finally detected these elusive waves (Phys. Rev. Lett. 2016, DOI: 10.1103/PhysRevLett.116.061102). In his theory, Einstein described gravity in terms of warped spacetime. Some physicists like to depict that warping like the way a trampoline sags under the weight of a heavy bowling ball. If someone rolled a second, lighter ball across the warped trampoline, that ball would orbit and spiral in toward the heavier one, in a manner similar to the effects of gravity on celestial bodies. The 100-year-old theory predicts that as gargantuan bodies such as supernovae and black holes accelerate because of gravity, they will emit vast amounts of energy and generate gravitational waves that propagate through the universe, sometimes passing through Earth. So over the course of several years starting in 2008, the team of more than 1,000 scientists from California Institute of Technology, Massachusetts Institute of Technology, and many other research centers overhauled LIGO’s equipment. These improvements included replacing the mirrors with new advanced ones coated in that thin layer of metal oxides. To understand why that 2-µm-thick coating played such an important role in spotting gravitational waves, consider the measurement that LIGO’s instruments were tasked with. Like Fourier Transform infrared (FTIR) spectrometers, LIGO’s detectors send light through a beam splitter that directs the two beams along a pair of arms oriented 90° apart. But unlike benchtop FTIRs, which use centimeter-sized interferometers, the arms in LIGO’s instruments measure a whopping 4 km. And the LIGO detectors don’t probe molecules. They’re designed instead to measure with extreme accuracy momentary subatomic-scale changes in the length of one arm relative to the other. Here’s how LIGO detects those events. A 120-mm-wide beam of laser light bounces back and forth between a pair of mirrors suspended at both ends of the 4-km arms. A portion of the bouncing beams combine and travel to a photodetector. In the absence of gravitational waves, the beams interfere destructively, yielding no signal. A tiny change in the relative lengths of the arms results in constructive interference, leading, in principle, to signals that can be detected. But actually measuring those signals requires heroic effort in eliminating multiple tiny sources of noise, says LIGO chief detector scientist Peter K. Fritschel. For example, the bouncing laser beam can heat and deform the mirrors ever so slightly and can cause them to move a tiny distance. Heavier mirrors are less prone to generating those types of noise than lighter ones. So during the overhaul, the LIGO team replaced the original 11-kg mirrors with wider, thicker 40-kg fused silica ones. And they upgraded the equipment that prevented environmental vibrations and seismic activity from jostling the mirrors. They also sought the best coatings possible to ensure the mirrors remain exceptionally reflective to keep the light trapped in the interferometer arms. Doing so maintains the beams’ intensity, thereby maximizing the chance of detecting tiny gravitational wave signals. “The coatings present their own set of challenges and have multiple constraints that need to be addressed,” Fritschel stresses. For example, the material must minimize losses resulting from absorption and the scattering caused by room temperature molecular vibrations in the coating—thermal noise. And the material must be compatible with technologies that apply thin coatings. Working with LMA, a specialty coatings research center based at Claud Bernard University Lyon 1, in France, the team decided to apply a total of 30 alternating layers of SiO and TiO -doped Ta O . Those two materials pair well for this application, Fritschel explains, because in addition to their low absorption, they exhibit a large difference in index of refraction, which enhances the coating’s reflectivity. Doping with TiO further boosts the difference in index of refraction. LMA deposited the films via ion-beam sputtering, which produced ultrasmooth coatings on the mirror surfaces. Various tests show that LIGO’s overhaul improved its sensitivity for detecting gravitational wave signals by roughly a factor of three, according to Gregory M. Harry, an American University physicist and former chair of the LIGO optics working group. The researchers then scrutinized the signals, which were detected nearly simultaneously by the twin instruments on opposite sides of the U.S. They concluded that they had detected gravitational waves that were generated 1.3 billion years ago as two black holes—roughly 29- and 36-times the mass of the sun—merged, forming a single black hole. LIGO statisticians cautioned the team that it might take months to detect another event. But the next one occurred just two weeks later. Those signals were less convincing, Harry says, so the team did not publish the results. With those first big successes behind them, the LIGO team is eager to learn more about gravitational waves and black holes, as well as possibly detect neutron-star mergers and other astrophysical events that generate the spacetime ripples. And to do that, they want to further improve their equipment, including the mirror coatings. That may come from advances in molecular-level understanding of the coatings, which remains an area with several unanswered questions.


TORONTO, ONTARIO--(Marketwired - Feb. 22, 2017) - Duran Ventures Inc. (TSX VENTURE:DRV)(LMA:DRV) ("Duran" or the "Company") is pleased to announce that it has entered into a letter of intent ("LOI") to sell the Company's Don Pancho polymetallic silver-lead-zinc project ("Don Pancho" or the "Project") located in the Department of Lima, Peru, to Tartisan Resources Corp. ("Tartisan") for cash consideration of $50,000 CDN and 500,000 shares of Tartisan. Duran will also receive an additional 500,000 shares of Tartisan as certain Project milestones are achieved by Tartisan, and will retain a 2% Net Smelter Royalty ("NSR") in the Project of which 1% can be purchased by Tartisan for $500,000 CDN. The parties intend to replace the LOI with a definitive agreement (the "Definitive Agreement") containing industry standard terms and conditions no later than March 31, 2017, following a due diligence review by both parties. The Don Pancho project is located in a prolific polymetallic mineral belt in Central Peru. Trevali Mining Corporation's Santander Silver-Lead-Zinc mine is located 9 kilometers to the east of the Project. The World Class Iscaycruz and Yauliyacu Polymetallic Mines operated by Glencore-Xstrata plc are located 50 kilometres to the north-northwest of the Project. Buenaventura's Silver-Lead-Zinc Uchucchacua Mine is located 63 kilometres north of the Project. The Don Pancho project was optioned to a third party in 2012 and returned 100% to Duran in late 2014 after completing six holes totaling 2,021 metres of diamond drilling. New geological information and modeling suggests that a different drilling direction is warranted, which should greatly enhance the Project's potential. The Project was well managed with regards to an extensive database and leaving a good relationship with the local community. The Company is pleased to enter into this transaction with Tartisan, which follows Duran's business model as a "Cash and Project Generator". The Company will continue to benefit from successful exploration and development on Don Pancho by Tartisan. Jeffrey Reeder, CEO of Duran, states "We are pleased to enter into this LOI with Tartisan for the sale of our Don Pancho project. Tartisan is well established in Peru and is in a position to advance this Project, allowing Duran to continue to benefit in the success of Don Pancho. Duran will continue to grow its business in Peru by adding multiple revenue streams, including vending and joint venturing prospective properties such as Don Pancho to third parties." The closing of the transaction is subject to a number of conditions including the entering into of the Definitive Agreement, the satisfactory completion of due diligence review by the parties, receipt of all required approvals and consents including all regulatory approval, and satisfaction of other customary closing conditions. The transaction cannot close until the required approvals are obtained. The Company is also pleased announce that it is continuing to process mineral at its 80% owned Aguila Norte mineral processing plant in Northern Peru. After successful processing of third party mineral, the Company is now processing 100% owned mineral and is now confident to enter into agreements with third parties to purchase additional mineral for processing. Jeffrey Reeder, P.Geo., and a qualified person as defined in National Instrument 43-101, is responsible for all technical information contained in this news release. Duran Ventures Inc. is a Canadian exploration company focused on mineral processing and the exploration and development of precious and base metal properties in Peru. Duran Ventures Inc. is a Canadian resource company listed on the TSX Venture Exchange and the Bolsa de Valores de Lima: Symbol "DRV" 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. Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. We use words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward looking statements and forward-looking information.


News Article | February 23, 2017
Site: www.businesswire.com

WAYNE, Pa.--(BUSINESS WIRE)--Teleflex Incorporated (NYSE: TFX) announced today that its Board of Directors declared a quarterly cash dividend of thirty-four cents ($0.34) per share of common stock. The dividend is payable March 15, 2017 to shareholders of record at the close of business on March 3, 2017. The company offers a Dividend Reinvestment & Direct Stock Purchase and Sale Plan. For information about the Plan, call 1-877-842-1572 (toll free), or log on to www.amstock.com to make an initial purchase. Additional information about Teleflex can be obtained from the company’s website at www.teleflex.com. Teleflex is a global provider of medical technologies designed to improve the health and quality of people’s lives. We apply purpose driven innovation – a relentless pursuit of identifying unmet clinical needs – to benefit patients and healthcare providers. Our portfolio is diverse, with solutions in the fields of vascular and interventional access, surgical, anesthesia, cardiac care, urology, emergency medicine and respiratory care. Teleflex employees worldwide are united in the understanding that what we do every day makes a difference. For more information, please visit teleflex.com. Teleflex is the home of Arrow®, Deknatel®, Hudson RCI®, LMA®, Pilling®, Rusch® and Weck® – trusted brands united by a common sense of purpose.


News Article | February 17, 2017
Site: www.businesswire.com

WAYNE, Pa.--(BUSINESS WIRE)--Teleflex Incorporated (NYSE: TFX), a leading global provider of medical technologies for critical care and surgery, announced today the completion of its previously announced acquisition of Vascular Solutions, Inc. On December 2, 2016, the two companies announced a definitive agreement for Teleflex to acquire all of the issued and outstanding shares of Vascular Solutions common stock for $56.00 per share, in cash. Vascular Solutions is an innovative medical device company that focuses on developing clinical solutions for minimally invasive coronary and peripheral vascular procedures. As previously announced, the combination is expected to meaningfully accelerate the growth of Teleflex’s vascular and interventional businesses by its entry into the coronary and peripheral vascular market, as well as increased cross-portfolio selling opportunities to both Teleflex and Vascular Solutions customer bases. Teleflex will provide additional details on the transaction, including an update to its fiscal year 2017 financial outlook as a result of this transaction, on its fourth quarter and full year 2016 investor conference call. The call will be held at 8:00 a.m. (ET) on Thursday, February 23, 2017. The call can be accessed through a live audio webcast on the company’s website, www.teleflex.com. An audio replay of the call will also be available on the website from February 23, 2017 at 11:00 a.m. (ET) to February 28, 2017 at 11:59 p.m. (ET) by calling 855-859-2056 (U.S./Canada) or 404-537-3406 (International), Passcode: 65576607. Teleflex is a global provider of medical technologies designed to improve the health and quality of people’s lives. We apply purpose driven innovation - a relentless pursuit of identifying unmet clinical needs - to benefit patients and healthcare providers. Our portfolio is diverse, with solutions in the fields of vascular and interventional access, surgical, anesthesia, cardiac care, urology, emergency medicine and respiratory care. Teleflex employees worldwide are united in the understanding that what we do every day makes a difference. For more information, please visit teleflex.com. Teleflex is the home of Arrow®, Deknatel®, Hudson RCI®, LMA®, Pilling®, Rusch® and Weck® - trusted brands united by a common sense of purpose. Vascular Solutions, Inc. is an innovative medical device company that focuses on developing unique clinical solutions for coronary and peripheral vascular procedures. The company’s product line consists of more than 90 products and services that are sold to interventional cardiologists, interventional radiologists, electrophysiologists and vein specialists through its direct U.S. sales force and international independent distributor network. All listed trademarks are the property of Vascular Solutions, Inc. This press release contains forward-looking statements, including, but not limited to, statements related to expected benefits to Teleflex from the acquisition, including acceleration of revenue growth, anticipated accretion to adjusted margins and adjusted earnings per share and longer-term benefits resulting from Vascular Solutions’ R&D pipeline and Teleflex’s international distribution network; expected transaction synergies; expectations with respect to return on invested capital resulting from the acquisition; Teleflex’s expectations with respect to its long-term debt to adjusted EBITDA levels; and Teleflex’s expectations with respect to increased cross-portfolio selling opportunities. Actual results could differ materially from those in the forward-looking statements due to, among other things, unanticipated difficulties and expenditures in connection with integration programs; customer and shareholder reaction to the transaction; risks associated with the financing of the transaction; disruption from the transaction making it more difficult to maintain business and operational relationships; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to the proposed acquisition; changes in general and international economic conditions, including fluctuations in foreign currency exchange rates and the impact of the United Kingdom's vote to leave the European Union; and other factors described or incorporated in our filings with the Securities and Exchange Commission (“SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2015.


WAYNE, Pa.--(BUSINESS WIRE)--Teleflex Incorporated (NYSE: TFX), a leading global provider of medical technologies for critical care and surgery, announced today that Benson Smith will retire from his position as Chief Executive Officer, effective on December 31, 2017. Mr. Smith, a Teleflex Board member since 2005, will continue to serve as Teleflex’s Chairman of the Board. He has been nominated by Teleflex’s Board of Directors to serve for another three year term if elected by Teleflex’s stockholders at the 2017 annual meeting to be held in May, 2017. “I want to thank the Board of Directors, along with all of our employees and shareholders, for the opportunity to serve on the executive management team at Teleflex,” said Mr. Smith. “When I began my tenure as CEO in 2011, Teleflex was completing its transition from a diversified industrial company, and I’m proud that in less than a decade we have been able to successfully grow into our current position as a leading global provider of medical devices. I have tremendous confidence in my colleague, Liam Kelly, and the talented executives that we have been able to attract and develop at Teleflex, and I look forward to Teleflex’s continued success under Liam’s leadership and strategic guidance.” Liam Kelly, who currently serves as Teleflex’s President and Chief Operating Officer, has been named by the Teleflex Board of Directors to succeed Mr. Smith as Chief Executive Officer following Mr. Smith’s retirement. “I’m grateful to Benson for his years of leadership as CEO, under which Teleflex has continuously expanded and improved its capabilities as a diversified, global provider of medical technologies, and I’m excited by the prospect of leading Teleflex through the Company’s next stage of growth and development,” said Mr. Kelly. Teleflex is a global provider of medical technologies designed to improve the health and quality of people’s lives. We apply purpose driven innovation - a relentless pursuit of identifying unmet clinical needs - to benefit patients and healthcare providers. Our portfolio is diverse, with solutions in the fields of vascular and interventional access, surgical, anesthesia, cardiac care, urology, emergency medicine and respiratory care. Teleflex employees worldwide are united in the understanding that what we do every day makes a difference. For more information, please visit teleflex.com. Teleflex is the home of Arrow®, Deknatel®, Hudson RCI®, LMA®, Pilling®, Rusch® and Weck® - trusted brands united by a common sense of purpose. This press release contains forward-looking statements, including, but not limited to, statements related to the occurrence of, and arrangements related to, Mr. Smith’s retirement as, and Mr. Kelly’s designation as, Teleflex’s Chief Executive Officer.. Actual results could differ materially from those in the forward-looking statements due to, among other things, the stockholder vote at Teleflex’s 2017 annual meeting and other factors described or incorporated in our filings with the Securities and Exchange Commission (“SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2015.


News Article | February 28, 2017
Site: www.businesswire.com

WAYNE, Pa.--(BUSINESS WIRE)--Benson Smith, Chairman and Chief Executive Officer, Teleflex Incorporated (NYSE:TFX), is scheduled to speak at Barclays Global Healthcare Conference at the Loews Miami Beach Hotel in Miami, Florida, on Tuesday, March 14, 2017 at 2:35 pm (ET). A live audio webcast of the conference presentation, along with the accompanying slide presentation, will be available on the investor portion of the Teleflex website at www.teleflex.com. Teleflex is a global provider of medical technologies designed to improve the health and quality of people’s lives. We apply purpose driven innovation – a relentless pursuit of identifying unmet clinical needs – to benefit patients and healthcare providers. Our portfolio is diverse, with solutions in the fields of vascular and interventional access, surgical, anesthesia, cardiac care, urology, emergency medicine and respiratory care. Teleflex employees worldwide are united in the understanding that what we do every day makes a difference. For more information, please visit teleflex.com. Teleflex is the home of Arrow®, Deknatel®, Hudson RCI®, LMA®, Pilling®, Rusch® and Weck® – trusted brands united by a common sense of purpose.

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