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News Article | February 28, 2017
Site: globenewswire.com

(Oslo, 28 February 2017) Saga Tankers ASA ("Saga", OSE: SAGA) reported a net asset value (NAV) of NOK  784 million at the end of the fourth quarter of 2016, corresponding to NOK 2.95  per share, excluding minority interests and with Vallhall valued at book value. By the end of fourth quarter, Saga had a cash balance of NOK 439 million and no long term debt, except the real estate financing related to the holding in Vallhall. The positive development in available for sale reserves of NOK 9.7 million, classified as other comprehensive income, is the net effect of positive return on investment in Pareto Bank and negative effect on investments in Vistin Pharma ASA and Nel ASA. Financial assets are adjusted to market value according to IFRS. SD Standard Drilling Plc is  (46.2% ownership) an associate and recognized according to the equity method. Vallhall Arena is a subsidiary. For further information, please contact: By end of first quarter the largest investments in Saga Tankers ASA were: NEL ASA is the first dedicated hydrogen company on the Oslo Stock Exchange. Since its foundation in 1927, NEL Hydrogen has a proud history of development and continual improvement of hydrogen plants. Nel's main products are hydrogen production plants for industry and energy applications, hydrogen fueling stations for the transport sector, and power-to-gas/power-to-power solutions for the renewable industry. The company also holds a number of patents related to tests for early detection and diagnosis of diseases. For further information: www.nelhydrogen.com Vistin Pharma is a Norwegian pharmaceutical company producing Active Pharmaceutical Ingredients (APIs) and solid dosage forms for the global pharmaceutical industry. The company has key positions in the Metformin and Opioids markets, and a strong foundation for creating a highly efficient CMO business (contract manufacturing of tablets).  Solid growth potentials exist in all the business segments. The spin-off from Weifa facilitates new growth opportunities due to a narrower business scope, increased visibility and being able to pursue own strategic agendas without the risk of compromises across business units. Pareto Bank is a leading niche player within project financing. The bank has main focus on financing of real estate, securities and corporate, shipping and offshore. Pareto Bank is a compact organization with 35 employees, short decision lines, and an efficient credit decision process. The main geographical real estate exposure is in Oslo and Akershus. Financing of securities is mainly related to listed stocks. Pareto Bank also finance small and medium size corporate, primarily related to a project or M&A. Further Pareto Bank finance some segments within the shipping and offshore industry. Vallhall Arena is Oslo's largest indoor arena, centrally located at Helsfyr in Oslo with good public transportation connections. Several hotels are also located close to the arena. The arena was built in 2001. The cost was approximately NOK 130 million whereof NOK 80 million was funded by debt and NOK 55 million was funded by equity from owners. The arena has about 9 000 square meter expanse. The arena is well-known for its high quality indoor soccer hall and is used by school children, as well as professionals. The arena is also leased out for events such as exhibitors, seminars, concerts and other events requiring facilities that Vallhall Arena can offer. Having sold all initial rig contracts, the strategy of the company has changed to being an investment company within the oil and gas service sector. Main assets are currently cash holdings and investments within the PSV segment. The company currently owns 100% of three large-size PSV's and have ownership in 13 mid-size PSV's bringing the total fleet of party and/or fully owned vessels to 16. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


News Article | November 29, 2016
Site: globenewswire.com

(Oslo, 29 November 2016) Saga Tankers ASA ("Saga", OSE: SAGA) reported a net asset value (NAV) of NOK  808 million at the end of the third quarter of 2016, corresponding to NOK 2.89  per share, excluding minority interests and with Vallhall valued at book value. By the end of third quarter, Saga had a cash balance of NOK 551 million and no long term debt, except the real estate financing related to the holding in Vallhall. The positive development in available for sale reserves of 27 million, classified as other comprehensive income, is mainly related to positive return on investments in Vistin Pharma ASA, Nel ASA and Pareto Bank ASA. There have been no substantial changes in the Saga's investment portfolio during the quarter Financial assets are adjusted to market value according to IFRS. SD Standard Drilling Plc is  (46.2% ownership) an associate and recognized according to the equity method. Vallhall Arena is a subsidiary. For further information, please contact: By end of first quarter the largest investments in Saga Tankers ASA were: NEL ASA is the first dedicated hydrogen company on the Oslo Stock Exchange. Since its foundation in 1927, NEL Hydrogen has a proud history of development and continual improvement of hydrogen plants. NEL is a global supplier of hydrogen solutions, covering the entire value chain from hydrogen production technologies to hydrogen refuelling stations for fuel cell electric vehicles. NEL Fueling is a leading manufacturer of H2Station® hydrogen refuelling stations that provides fuel cell electric vehicles with the same fast fuelling and long range as conventional vehicles today. For further information: www.nelhydrogen.com Vistin Pharma is a Norwegian pharmaceutical company producing Active Pharmaceutical Ingredients (APIs) and solid dosage forms for the global pharmaceutical industry. The company has key positions in the Metformin and Opioids markets, and a strong foundation for creating a highly efficient CMO business (contract manufacturing of tablets).  Solid growth potentials exist in all the business segments. The spin-off from Weifa facilitates new growth opportunities due to a narrower business scope, increased visibility and being able to pursue own strategic agendas without the risk of compromises across business units. Pareto Bank is a leading niche player within project financing. The bank has main focus on financing of real estate, securities and corporate, shipping and offshore. Pareto Bank is a compact organization with 33 employees, short decision lines, and an efficient credit decision process. The main geographical real estate exposure is in Oslo and Akershus. Financing of securities is mainly related to listed stocks. Pareto Bank also finance small and medium size corporate, primarily related to a project or M&A. Further Pareto Bank finance some segments within the shipping and offshore industry. Vallhall Arena is Oslo's largest indoor arena, centrally located at Helsfyr in Oslo with good public transportation connections. Several hotels are also located close to the arena. The arena was built in 2001. The cost was approximately NOK 130 million whereof NOK 80 million was funded by debt and NOK 55 million was funded by equity from owners. The arena has about 9 000 square meter expanse. The arena is well-known for its high quality indoor soccer hall and is used by school children, as well as professionals. The arena is also leased out for events such as exhibitors, seminars, concerts and other events requiring facilities that Vallhall Arena can offer. Having sold all initial rig contracts, the strategy of the company has changed to being an investment company within the oil and gas service sector. Main assets are currently cash holdings and investments within the PSV segment. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


News Article | December 15, 2016
Site: www.businesswire.com

Nel Hydrogen Solutions, a division of Nel ASA (OSE:NEL), has been awarded a contract by Uno-X Hydrogen AS (Uno-X Hydrogen) to build the first H2Station® in Bergen, Norway. “Uno-X Hydrogen is developing a world-class hydrogen network in Norway and we are exited to initiate the roll-out in Bergen and the Norwegian West Coast. This brings us one step closer to enabling hydrogen transportation between all the major cities in Norway. In addition, there is a strong regional demand for hydrogen solutions in Bergen, where hydrogen cars have already been deployed and are simply waiting at the harbor for fueling stations to be finalized,” says Jacob Krogsgaard, Senior Vice President of Nel Hydrogen Solutions. The new H2Station® will be the first of two new hydrogen fueling stations in Bergen. The contract has a value of approximately EUR one million, and will be deliverd during the second quarter of 2017. The contract award brings Nel´s 2016 year-to-date order intake to approximately NOK 135 million. Nel is a global, dedicated hydrogen company, delivering optimal solutions to produce, store and distribute hydrogen from renewable energy. We serve industries, energy and gas companies with leading hydrogen technology. Since its foundation in 1927, Nel has a proud history of development and continual improvement of hydrogen plants. Our hydrogen solutions cover the entire value chain from hydrogen production technologies to manufacturing of hydrogen fueling stations, providing all fuel cell electric vehicles with the same fast fueling and long range as conventional vehicles today. Uno-X Hydrogen AS is a joint venture, owned by Uno-X, Nel and Praxair with 41 %, 39 % and 20 %, respectively. The joint venture will build a network of hydrogen refueling stations, where fuel cell electric vehicles (FCEVs) can operate between all the major cities in Norway. The stations will be deployed in cities like Oslo, Bergen, Trondheim, Stavanger, Kristiansand, along with corresponding corridor locations. The target is that FCEVs can drive between the most populated cities in Norway within 2020. This information was brought to you by Cision http://news.cision.com


Solver Adds Several New Customers in October, Continuing Notable Momentum for BI360 as Leading BI and CPM Tool Solver, Inc., the global leader in web- and Excel-based Business Intelligence for mid-market ERP systems, today released the list of added BI360 customers in October 2016. Los Angeles, CA, November 12, 2016 --( Some of the new customers in October 2016 included Southern Baptist Theological Seminary, Warrior Met Coal, LLC, GlynLyon, Thybar Corporation, Tobago Regional Health Authority, Native Trails, Inc., Virginia Housing Development Authority, NEL America, Inc., Empres Healthcare, KidKraft, Pixius Communications, Sammuel Hubbard Shoe Company LLC, International Trademark Association, Blue Sky Therapy, IMA, Health Group Management, Lion of Africa Insurance, Brattleboro Retreat, and Carolina Beverage Corporation. These deals were won by the authorized BI360 reselling partner network supported by Solver’s sales team. "The month of October built on the momentum and growth we saw in Q2, expanding and deepening the impact BI360 is having both domestically and internationally,” said Nils Rasmussen, Solver’s CEO. “This is important growth as we continue to cultivate an ecosystem of partners and customers that can help drive the launch of our BI360 Cloud offering in the first half of 2017. Meanwhile, we’re proud that BI360 continues to make reporting, budgeting, analysis and data warehousing easier and more accessible for professionals at all levels of an organization.” About Solver Solver provides BI360, the leading mid-market Business Intelligence suite for Microsoft Dynamics AX, GP, NAV, SL, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, Epicor, Intacct, Acumatica, NetSuite and other ERP systems. Solver is a Microsoft Gold ISV Partner and the winner of the Microsoft BI Partner of Year Award and has a presence on the Gartner Group CPM Magic Quadrant. BI360 is sold through a worldwide network of resellers and is ideal for companies looking to find a user-friendly, yet highly functional Reporting, Budgeting, Dashboard, and Data Warehouse solution to give them deep insight and actionable information across all facets of their organization. For any questions, visit Solver's website or contact Solver at info@solverglobal.com. Los Angeles, CA, November 12, 2016 --( PR.com )-- Solver, Inc., the global leader in web and Excel-based Business Intelligence for mid-market ERP systems, today released the list of added BI360 customers in October 2016. The month included a record-breaking number of new customers, related to excitement building for BI360’s move to the Cloud and a record-breaking attendance for the company’s annual user conference in August, BI360 Focus 2016. As the current version of BI360 continues to resonate due to easy-to-use, dynamic, self-service Business Intelligence and Corporate Performance software solutions, the developing move to the Cloud has proven to be exciting for prospective and current customers alike.Some of the new customers in October 2016 included Southern Baptist Theological Seminary, Warrior Met Coal, LLC, GlynLyon, Thybar Corporation, Tobago Regional Health Authority, Native Trails, Inc., Virginia Housing Development Authority, NEL America, Inc., Empres Healthcare, KidKraft, Pixius Communications, Sammuel Hubbard Shoe Company LLC, International Trademark Association, Blue Sky Therapy, IMA, Health Group Management, Lion of Africa Insurance, Brattleboro Retreat, and Carolina Beverage Corporation. These deals were won by the authorized BI360 reselling partner network supported by Solver’s sales team."The month of October built on the momentum and growth we saw in Q2, expanding and deepening the impact BI360 is having both domestically and internationally,” said Nils Rasmussen, Solver’s CEO. “This is important growth as we continue to cultivate an ecosystem of partners and customers that can help drive the launch of our BI360 Cloud offering in the first half of 2017. Meanwhile, we’re proud that BI360 continues to make reporting, budgeting, analysis and data warehousing easier and more accessible for professionals at all levels of an organization.”About SolverSolver provides BI360, the leading mid-market Business Intelligence suite for Microsoft Dynamics AX, GP, NAV, SL, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, Epicor, Intacct, Acumatica, NetSuite and other ERP systems. Solver is a Microsoft Gold ISV Partner and the winner of the Microsoft BI Partner of Year Award and has a presence on the Gartner Group CPM Magic Quadrant. BI360 is sold through a worldwide network of resellers and is ideal for companies looking to find a user-friendly, yet highly functional Reporting, Budgeting, Dashboard, and Data Warehouse solution to give them deep insight and actionable information across all facets of their organization.For any questions, visit Solver's website or contact Solver at info@solverglobal.com.


News Article | November 10, 2016
Site: www.prweb.com

Northeast Laboratory Services, Inc. a Maine based Prepared Culture Media Manufacturer and Full Service Analytical Laboratory is excited to announce the addition of Hannah Roberts to its Manufacturing Division Sales Team. Ms. Roberts will be responsible for driving revenue through customer retention and new customer relations, as well as sales leadership. Ms. Roberts received her Bachelors of Science in Business Administration with a concentration in Marketing at Merrimack College in North Andover, MA and also studied abroad at the American University of Rome in Rome, Italy. Her past positions include Local Marketing Coordinator at TideSmart Global in Falmouth and Assistant Media Planner at Yellin McCarron Media Management in Boston. She also gained valuable experience as Sales and Media Planner Intern at the Portland Seadogs, MLB. Melissa Higgins, Northeast Laboratory Services, Inc. VP and CFO, states "We are very excited to welcome Hannah to our team at Northeast Laboratory Services. The hiring of Hannah allows us to connect with our customers in person, to enhance our customer relationships, and be the face of NEL for all that come into contact with her." Northeast Laboratory Services, Inc. has been specializing in the production of prepared culture media for over 40 years, and continues to grow its customer base. NEL offers a wide variety of products in tubes, bottles, culture plates, and vials and specializes in custom formulations to meet their customer's specifications. Northeast Laboratory Services prepared culture media manufacturing facility is located in Winslow, ME. This location also houses two analytical divisions offering environmental chemistry and microbiology testing services. A second location in Portland, Maine offers food testing services as well as analysis of radon and asbestos.


TORONTO, ONTARIO ET MONTREAL, QUEBEC--(Marketwired - 14 fév. 2017) - DIFFUSION INTERDITE AUX ÉTATS-UNIS OU PAR L'ENTREMISE DE SERVICES DE NOUVELLES DES ÉTATS-UNIS. Le Fonds de placement immobilier Edgefront (TSX CROISSANCE:ED.UN) (le « FPI Edgefront ») et le Fonds de placement immobilier Nobel (TSX CROISSANCE:NEL.UN) (le « FPI Nobel ») ont annoncé aujourd'hui qu'ils avaient conclu une convention d'arrangement sans lien de dépendance (la « convention d'arrangement ») en vue de créer un FPI diversifié doté de 36 immeubles commerciaux situés partout au Canada. L'entité issue du regroupement bénéficiera d'une superficie locative brute totalisant 2,1 millions de pieds carrés et d'actifs d'une valeur comptable brute totalisant environ 300 millions de dollars. On prévoit que, une fois la fusion réalisée, la société issue du regroupement prendra le nom de « Fonds de placement immobilier Nexus » (le « FPI Nexus »). Selon les modalités de la convention d'arrangement, le FPI Edgefront et le FPI Nobel se proposent de structurer la fusion et de la mettre en œuvre au moyen d'un plan d'arrangement prévoyant l'acquisition du FPI Nobel par le FPI Edgefront (l'« arrangement ») en vertu de la Loi canadienne sur les sociétés par actions, aux termes duquel les porteurs de parts du FPI Nobel recevront, pour chaque part de fiducie du FPI Nobel qu'ils détiennent (les « parts de Nobel »), 1,67 part de fiducie du FPI Edgefront (les « parts d'Edgefront »), soit environ 17 453 726 parts d'Edgefront au total. Tous les autres porteurs de titres convertibles en parts de Nobel recevront des titres équivalents du FPI Edgefront convertibles en parts d'Edgefront ou auront le droit de convertir leurs titres convertibles en parts d'Edgefront, pour un total d'environ 1 662 540 parts d'Edgefront additionnelles, aux mêmes conditions financières. On prévoit que l'arrangement constituera une opération de roulement avec report d'impôt pour les résidents canadiens. Kelly Hanczyk, président et chef de la direction du FPI Edgefront, a dit : « La fusion avec le FPI Nobel est une occasion très intéressante pour nos porteurs de parts. Nous voyons plusieurs secteurs où nous pourrons réaliser des synergies et des économies de coûts entre nos deux portefeuilles. En outre, l'ajout de RFA Capital à titre de porteur de parts et de partenaire stratégique supplémentaire aidera le FPI issue du regroupement à repérer des occasions d'acquisition de grande qualité grâce à son vigoureux portefeuille de biens immobiliers. Nous sommes persuadés que nos porteurs de parts profiteront des occasions de création de valeur qui seront réalisées grâce à un portefeuille d'actifs élargi et plus diversifié. » Jean Teasdale, président et chef de la direction du FPI Nobel, a déclaré : « Cette fusion représente une occasion de refondre la marque du FPI Nobel et de créer un nouveau FPI canadien diversifié ayant un accès accru aux capitaux, une portée géographique étendue et un nouveau partenaire stratégique, TriWest. Le FPI Edgefront possède un portefeuille d'immeubles industriels vigoureux et diversifié, comptant des locataires de qualité et des baux à long terme. Nous sommes enthousiastes à l'idée de regrouper Edgefront et nos immeubles commerciaux situés partout au Québec. » Les conseils des fiduciaires du FPI Edgefront et du FPI Nobel estiment que la fusion procurera des avantages substantiels aux porteurs de parts, notamment les suivants : L'équipe de la haute direction et le conseil des fiduciaires du FPI Nexus profiteront de l'expérience et de la compétence étendues des deux sociétés. M. Kelly Hanczyk et M. Jean Teasdale assureront la direction du FPI Nexus et seront nommés cochefs de la direction de la société issue du regroupement, et M. Robert Chiasson deviendra le chef des Finances. Le conseil des fiduciaires du FPI Nexus sera composé des deux cochefs de la direction, de trois représentants du FPI Edgefront, y compris le président du conseil, et de deux représentants du FPI Nobel. L'opération sera assujettie à l'obtention de l'approbation des porteurs de parts du FPI Nobel et du FPI Edgefront aux assemblées extraordinaires de leurs porteurs de parts respectifs, qui devraient avoir lieu à la fin du mois de mars 2017. Les sociétés prévoient mettre à la poste les circulaires de sollicitation de procurations par la direction dès que possible. L'opération est également assujettie à l'approbation des organismes de réglementation (y compris la Bourse de croissance TSX), à l'approbation de l'arrangement par les tribunaux, à l'obtention des consentements requis et aux autres conditions de clôture usuelles. Si toutes les conditions de clôture sont remplies ou font l'objet d'une renonciation, on prévoit que l'arrangement sera réalisé en avril 2017. Les deux sociétés ont convenu, sous réserve des conditions usuelles, de ne pas solliciter d'autres offres ou propositions d'acquisition, d'accorder un droit d'égaler toute proposition supérieure reçue et non sollicitée et de verser des frais de rupture réciproques de 2,0 millions de dollars ou de rembourser des frais pouvant atteindre 1,0 million de dollars dans certaines circonstances stipulées. La convention d'arrangement sera disponible sur SEDAR, à www.sedar.com. Un exemplaire des circulaires de sollicitation de procurations par la direction du FPI Edgefront et du FPI Nobel et de certains documents connexes sera envoyé à chacun des porteurs de parts et déposé auprès des autorités en valeurs mobilières du Canada et sera disponible sur SEDAR. Les porteurs de parts sont invités à examiner les renseignements détaillés contenus dans ces documents et à exercer leur droit de vote à leurs assemblées respectives. Recommandations du conseil des fiduciaires et du comité spécial de Nobel Le conseil des fiduciaires du FPI Nobel a approuvé à l'unanimité l'arrangement et recommande aux porteurs de parts du FPI Nobel de voter en faveur de l'arrangement. D'après la recommandation d'un comité spécial de fiduciaires indépendants et considérant certains autres facteurs, le conseil des fiduciaires du FPI Nobel a conclu que la contrepartie devant être reçue par les porteurs de parts du FPI Nobel dans le cadre de l'arrangement était équitable, du point de vue financier, et que l'arrangement était au mieux des intérêts du FPI Nobel. Le conseil des fiduciaires du FPI Nobel a reçu un avis de son conseiller financier, Trimaven Capital Advisors, suivant lequel la contrepartie devant être reçue par les porteurs de parts du FPI Nobel dans le cadre de l'arrangement était équitable, du point de vue financier, pour les porteurs de parts du FPI Nobel. RFA, conjointement avec RFA Nobel LP qui est le porteur de parts le plus important du FPI Nobel, contrôlant 7 624 333 parts du FPI Nobel, soit environ 72,5 % des parts avec droit de vote du FPI Nobel en circulation, a conclu une convention de soutien et de blocage à l'appui de l'arrangement. En outre, chacun des fiduciaires et des membres de la haute direction du FPI Nobel, qui sont collectivement propriétaires véritables d'environ 1,1 % des parts avec droit de vote du FPI Nobel en circulation ou exercent un contrôle sur une telle proportion de ces titres, a l'intention d'exercer les droits de vote rattachés à ses parts en faveur de l'arrangement. Recommandations du conseil des fiduciaires et du comité spécial d'Edgefront Le conseil des fiduciaires du FPI Edgefront a approuvé à l'unanimité l'arrangement et recommande aux porteurs de parts du FPI Edgefront de voter en faveur de l'arrangement. D'après la recommandation d'un comité spécial de fiduciaires et considérant certains autres facteurs, le conseil des fiduciaires du FPI Edgefront a conclu que la contrepartie devant être versée par le FPI Edgefront dans le cadre de l'arrangement était équitable, du point de vue financier, pour les porteurs de parts du FPI Edgefront et que l'arrangement était au mieux des intérêts du FPI Edgefront. Le conseil des fiduciaires du FPI Edgefront a reçu un avis de son conseiller financier, Desjardins Marché des capitaux, suivant lequel la contrepartie devant être versée par le FPI Edgefront dans le cadre de l'arrangement était équitable, du point de vue financier, pour les porteurs de parts du FPI Edgefront. TriWest, qui est le porteur de parts le plus important du FPI Edgefront, contrôlant 10 957 374 parts du FPI Edgefront, soit environ 26 % des parts du FPI Edgefront en circulation, a conclu une convention de soutien à l'appui de l'arrangement. En outre, chacun des fiduciaires et des membres de la haute direction du FPI Edgefront, qui sont collectivement propriétaires véritables d'environ 11 % des parts du FPI Edgefront en circulation ou exercent un contrôle sur une telle proportion de ces titres, a l'intention d'exercer les droits de vote rattachés à ses parts en faveur de l'opération. Desjardins Marché des capitaux agit en qualité de conseiller financier du FPI Edgefront dans le cadre de l'opération proposée et Blake, Cassels & Graydon s.e.n.c.r.l./s.r.l. agit en qualité de conseiller juridique pour le compte du FPI Edgefront. Trimaven Capital Advisors agit en qualité de conseiller financier du comité spécial des fiduciaires indépendants du FPI Nobel relativement à l'opération proposée et Osler, Hoskin & Harcourt s.e.n.c.r.l./s.r.l. agit en qualité de conseiller juridique pour le compte du FPI Nobel. Le FPI Edgefront et le FPI Nobel tiendront une conférence téléphonique conjointe le 15 février 2017 à 13 h, heure de l'Est, à l'intention des membres des milieux financiers afin de discuter de la fusion. Les participants peuvent se joindre à la conférence téléphonique en composant l'un ou l'autre des numéros suivants : Numéro d'identification de la conférence : 21846754 Numéro sans frais en Amérique du Nord : (800) 708-3128 Avant la tenue de la conférence téléphonique, les deux sociétés publieront sur leur site Web respectif une présentation portant sur la fusion à l'intention des investisseurs. Le FPI Edgefront est une fiducie de placement immobilier axée sur la croissance, résolue à créer de la valeur pour ses porteurs de parts grâce à l'acquisition, à la propriété et à la gestion d'immeubles industriels situés sur les marchés primaires et secondaires d'Amérique du nord. À l'heure actuelle, le FPI est propriétaire d'un portefeuille de 20 immeubles comportant une superficie locative d'environ 1 180 000 pieds carrés. Le FPI Nobel est une fiducie de placement immobilier à capital ouvert non constituée en personne morale régie par les lois de la province de Québec. Il a été créé dans le but d'acquérir des immeubles à revenu et d'en être propriétaire. Le FPI se concentre sur l'acquisition d'immeubles de commerce de détail commerciaux, d'immeubles de commerce de détail à vocation mixte, d'immeubles industriels et d'immeubles de bureaux situés sur les marchés primaires de la province de Québec et du Canada. À l'heure actuelle, le FPI Nobel est propriétaire, en totalité ou en partie, directement ou indirectement, de seize immeubles situés au Québec comportant une superficie locative brute de plus de 869 000 pieds carrés. Le présent communiqué renferme des énoncés prospectifs au sujet du FPI Nobel et du FPI Edgefront. Les énoncés prospectifs se reconnaissent généralement à l'emploi de verbes ou d'expressions comme « s'attendre à », « anticiper », « croire », « pouvoir », « escompter », « estimer », « viser », « avoir l'intention de », « prévoir », « pouvoir », « projeter », « devoir », « être susceptible(s) de » et d'expressions semblables. Ils reflètent les estimations, opinions et hypothèses actuelles, qui reposent sur la perception qu'ont le FPI Nobel et le FPI Edgefront des tendances historiques, de la situation actuelle et d'événements futurs anticipés, ainsi que sur d'autres facteurs qui, de l'avis de la direction, sont appropriés dans les circonstances. Les estimations, opinions et hypothèses du FPI Nobel et du FPI Edgefront sont, de par leur nature, assujetties à des incertitudes et à des éventualités considérables, notamment d'ordre commercial, économique et concurrentiel, en ce qui a trait aux événements futurs, et elles sont donc susceptibles d'être révisées. Ni le FPI Nobel ni le FPI Edgefront ne peuvent garantir que ces estimations, opinions et hypothèses s'avéreront exactes. Les énoncés prospectifs exprimés dans le présent communiqué portent notamment sur ce qui suit : la mesure dans laquelle on s'attend à ce que l'opération contribue positivement au FPI Nexus; la situation financière du FPI Nexus, ainsi que son portefeuille d'immeubles, ses flux de trésorerie et ses perspectives de croissance à la suite de la réalisation de l'opération; certains avantages d'ordre stratégique et les synergies eu égard aux marchés des capitaux, à l'exploitation, à la concurrence et aux coûts; les avantages attendus pour les porteurs de parts du FPI Nobel et du FPI Edgefront; l'exécution prévue de la convention d'arrangement, la clôture de l'opération proposée et le calendrier prévu de celle-ci; le roulement avec report d'impôt de l'arrangement pour les résidents canadiens; le conseil et l'équipe de direction après la réalisation de l'opération proposée et l'obtention des approbations requises des porteurs de parts, et les dates proposées pour la tenue des assemblées des porteurs de parts. Bon nombre de risques et d'incertitudes pourraient faire en sorte que les résultats réels diffèrent sensiblement des estimations, des opinions et des hypothèses qu'expriment ou que laissent entendre les énoncés prospectifs, notamment les suivants : les facteurs liés à l'économie et aux marchés propres au secteur immobilier; les facteurs généraux liés à l'économie et aux marchés; la situation des marchés immobiliers locaux; les taux d'intérêt; les possibilités d'accès à du financement par capitaux propres et par emprunt; les gains d'efficience et les coûts d'exploitation; les facteurs d'ordre fiscal; la dépendance à l'égard du personnel clé; les besoins de financement additionnels, la réglementation gouvernementale; la réglementation environnementale et les responsabilités à l'égard de l'environnement; la concurrence; les risques non couverts par des assurances; les poursuites; les conflits d'intérêts touchant les fiduciaires et les dirigeants, et les risques associés à l'opération. Les lecteurs sont avisés que l'énumération de facteurs qui précède n'est pas exhaustive. D'autres risques et incertitudes dont le FPI Nobel et le FPI Edgefront n'ont actuellement pas connaissance ou jugent à l'heure actuelle sans importance pourraient aussi faire en sorte que les résultats ou les événements réels diffèrent sensiblement de ceux qu'expriment leurs énoncés prospectifs. Des renseignements supplémentaires sur ces facteurs ainsi que sur d'autres facteurs susceptibles d'influer sur les activités ou les résultats financiers du FPI Nobel et du FPI Edgefront figurent dans les documents déposés par le FPI Nobel et le FPI Edgefront auprès des autorités en valeurs mobilières compétentes et peuvent être consultés sur le site Web de SEDAR, au www.sedar.com. Rien ne garantit que l'opération proposée aura lieu, ni que les avantages stratégiques ou les synergies en matière d'exploitation, de concurrence et de coûts se matérialiseront. L'opération proposée est assujettie à diverses approbations réglementaires et à la réalisation de certaines autres conditions, notamment l'approbation des porteurs de parts du FPI Nobel et du FPI Edgefront, et rien ne garantit que ces approbations seront obtenues ou que ces conditions seront remplies. L'opération proposée pourrait être modifiée, restructurée ou annulée. Les énoncés prospectifs contenus dans le présent communiqué sont dans leur intégralité expressément donnés sous réserve de la présente mise en garde. Tous les énoncés prospectifs contenus dans le présent communiqué sont exprimés à la date du présent communiqué. Le FPI Nobel et le FPI Edgefront ne s'engagent pas à mettre à jour ces énoncés prospectifs advenant, notamment, des renseignements ou des faits nouveaux, à moins que la loi ne les y oblige. Le présent communiqué contient de l'information fournie par le FPI Nobel et le FPI Edgefront. Les renseignements sur le FPI Nobel et le FPI Edgefront qui figurent dans le présent communiqué ont, selon le cas, été fournis soit par le FPI Nobel, soit par le FPI Edgefront. Même si le FPI Nobel et le FPI Edgefront n'ont connaissance d'aucun fait pouvant indiquer que les renseignements fournis sur l'autre sont incomplets ou inexacts, ni l'un ni l'autre n'assume de responsabilité quant à l'exactitude ou à l'exhaustivité de ces renseignements. Ni la Bourse de croissance TSX ni son fournisseur de services de réglementation (au sens attribué à ce terme dans les politiques de la Bourse de croissance TSX) ne sont responsables de la qualité ou de l'exactitude du présent communiqué.


NOT FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION THROUGH UNITED STATES NEWS OR WIRE SERVICES. Edgefront Real Estate Investment Trust (TSX VENTURE:ED.UN) ("Edgefront REIT") and Nobel Real Estate Investment Trust (TSX VENTURE:NEL.UN) ("Nobel REIT") announced today that they have entered into an arm's length arrangement agreement (the "Arrangement Agreement") to create a diversified REIT with 36 commercial properties located across Canada. The combined entity will total 2.1 million square feet of GLA with a combined gross book value of assets of approximately $300 million. Upon completion of the merger, the combined company is expected to be renamed Nexus Real Estate Investment Trust ("Nexus REIT"). Under the terms of the Arrangement Agreement, Edgefront REIT and Nobel REIT propose to structure and implement the merger by way of Edgefront REIT acquiring Nobel REIT through a plan of arrangement ("Arrangement") pursuant to the Canada Business Corporations Act whereby unitholders of Nobel REIT will receive, for each trust unit of Nobel REIT held ("Nobel Units"), 1.67 trust units of Edgefront REIT ("Edgefront Units"), or approximately 17,454,227 Edgefront Units in total. All other holders of securities that are convertible into Nobel Units will receive equivalent securities of Edgefront REIT that will be convertible into Edgefront Units, or will be entitled to convert their convertible securities into Edgefront Units totalling up to an additional approximately 1,662,540 Edgefront Units, upon the same financial conditions. The Arrangement is expected to occur on a tax-deferred rollover basis for Canadian residents. Kelly Hanczyk, President and CEO of Edgefront REIT, commented: "The merger with Nobel REIT is a very attractive opportunity for our unitholders. We see several synergies and cost saving areas between our two portfolios. Furthermore, the addition of RFA Capital as another strategic unitholder and partner will assist the larger combined REIT in identifying high quality acquisition opportunities through their robust pipeline of real estate assets. We are confident that our unitholders will benefit from the value creation opportunities that will be realized through an expanded and more diversified asset base." Jean Teasdale, President and CEO of Nobel, stated: "This merger represents an opportunity to rebrand Nobel REIT and create a new diversified Canadian REIT with improved access to capital, a larger geographic footprint and a new strategic partner with TriWest. Edgefront REIT has a strong, diversified industrial real estate portfolio, with quality tenants and long-term leases in place. We look forward to combining Edgefront with our commercial properties across Quebec." The Boards of Trustees of Edgefront REIT and Nobel REIT believe the merger will provide substantial benefits to unitholders, including the following: The senior executive team and the Board of Trustees of Nexus REIT will draw from the extensive experience and expertise of both companies. Mr. Kelly Hanczyk and Mr. Jean Teasdale will assume the leadership of Nexus REIT and be appointed co-Chief Executive Officers of the combined company, and Mr. Robert Chiasson will become Chief Financial Officer. The Board of Trustees of Nexus REIT will be comprised of the two co-Chief Executive Officers, three nominees from Edgefront REIT, including the Chairman, and two nominees from Nobel REIT. The transaction will be subject to unitholder approval of both Nobel REIT and Edgefront REIT at special meetings of each of their unitholders that are expected to be held in late March 2017. The companies intend to mail the special meeting management proxy circulars as soon as practicable. The transaction is also subject to regulatory approvals (including the approval of the TSX Venture Exchange), court approvals of the Arrangement, required consents and other customary closing conditions. Assuming all closing conditions are met or waived, the Arrangement is expected to be completed in April 2017. Both companies have agreed, subject to customary conditions, not to solicit other offers or acquisition proposals, to provide a right to match any superior proposal received on an unsolicited basis, and to pay a reciprocal break fee of $2.0 million or to reimburse expenses up to $1.0 million in certain specified circumstances. The Arrangement Agreement will be available on SEDAR at www.sedar.com. Copies of Edgefront REIT's and Nobel REIT's management proxy circulars and certain related documents will be sent to unitholders and filed with the Canadian securities regulators and will also be available on SEDAR. Unitholders are encouraged to review the detailed information contained in such documents and vote at their respective meetings. The Board of Trustees of Nobel REIT has unanimously approved the Arrangement and recommends that Nobel REIT unitholders vote in favour of the Arrangement. Based on the recommendation of a special committee of independent trustees and certain other factors, the Board of Trustees of Nobel REIT has determined that the consideration to be received by Nobel REIT unitholders pursuant to the Arrangement is fair, from a financial point of view, and that the Arrangement is in the best interests of Nobel REIT. Nobel REIT's Board of Trustees has received an opinion from its financial advisor, Trimaven Capital Advisors, that the consideration to be received by unitholders of Nobel REIT pursuant to the Arrangement is fair, from a financial point of view, to unitholders of Nobel REIT. RFA, together with RFA Nobel LP, which is Nobel REIT's largest single unitholder controlling 7,624,333 Nobel REIT units, or approximately 72.5% of the outstanding Nobel REIT voting units, has entered into a voting support and lock-up agreement supporting the Arrangement. In addition, each of the trustees and senior management of Nobel REIT who combined beneficially own or control approximately 1.1% of the outstanding Nobel REIT voting units, intends to vote their units in favour of the Arrangement. The Board of Trustees of Edgefront REIT has unanimously approved the Arrangement and recommends that Edgefront REIT unitholders vote in favour of the transaction. Based on the recommendation of a special committee of trustees and certain other factors, the Board of Trustees of Edgefront REIT has determined that the consideration to be paid by Edgefront REIT pursuant to the Arrangement is fair, from a financial point of view to unitholders of Edgefront REIT, and that the Arrangement is in the best interests of Edgefront REIT. Edgefront REIT's Board of Trustees has received an opinion from its financial advisor, Desjardins Capital Markets, that the consideration to be paid by Edgefront REIT pursuant to the Arrangement is fair, from a financial point of view, to unitholders of Edgefront REIT. TriWest, which is Edgefront REIT's largest single unitholder, controlling 10,957,374 Edgefront REIT units, or approximately 26% of the outstanding Edgefront REIT units, has entered into a voting support agreement supporting the Arrangement. In addition, each of the trustees and senior management of Edgefront REIT, who combined beneficially own or control approximately 11% of the outstanding Edgefront REIT units, intends to vote their units in favour of the transaction. Desjardins Capital Markets is acting as financial advisor to Edgefront REIT in connection with the proposed transaction and Blake, Cassels & Graydon LLP was engaged as counsel to act on behalf of Edgefront REIT. Trimaven Capital Advisors is acting as financial advisor to the special committee of independent trustees of Nobel in connection with the proposed transaction and Osler, Hoskin & Harcourt LLP was engaged as counsel to act on behalf of Nobel REIT. Edgefront REIT and Nobel REIT will host a joint conference call on February 15, 2017 at 1:00 p.m. Eastern Time for members of the investment community to discuss the merger. Participants may join the conference call using the following call-in details: An investor presentation regarding the merger will be made available on the respective websites of both companies before the call. Edgefront REIT is a growth oriented real estate investment trust focused on increasing unitholder value through the acquisition, ownership and management of industrial properties located in primary and secondary markets in North America. The REIT currently owns a portfolio of 20 properties comprising approximately 1,180,000 square feet of rentable area. Nobel REIT is an unincorporated open-ended real estate investment trust governed by the laws of the Province of Québec. Nobel REIT has been created for the purpose of acquiring and owning income producing properties. The REIT focuses on acquiring commercial retail, mixed-used retail, industrial and office properties in the primary markets in the Province of Québec and Canada. Nobel REIT currently owns, in whole or in part, directly or indirectly, sixteen properties located in Québec, comprising more than 869,000 square feet of gross leasable area. This news release contains forward-looking statements about Nobel REIT and Edgefront REIT. Forward-looking statements are typically identified by words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "strive", "will", "may", "potential" and "should" and similar expressions. Forward-looking statements reflect current estimates, beliefs and assumptions which are based on Nobel REIT's and Edgefront REIT's perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. Nobel REIT's and Edgefront REIT's estimates, beliefs and assumptions are inherently subject to significant business, economic, competitive and other uncertainties and contingencies regarding future events and, as such, are subject to change. Nobel REIT and Edgefront REIT can give no assurance that such estimates, beliefs and assumptions will prove to be correct. Forward-looking statements in this news release contain those relating to: the extent to which the transaction is expected to be accretive to Nexus REIT; Nexus REIT's financial position following the completion of the transaction and its property portfolio, cash flow and growth prospects; certain strategic benefits, and capital markets, operational, competitive and cost synergies; the expected benefits to unitholders of both Nobel REIT and Edgefront REIT; the expected execution of the Arrangement Agreement, closing of the proposed transaction and the expecting timing of such; tax-deferred rollover basis of the Arrangement for Canadian residents; the board and management team following completion of the proposed transaction and the receipt of the necessary unitholder approvals and the proposed timing of the unitholder meetings. Numerous risks and uncertainties could cause actual results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements, including, but not limited to: economic and market factors specific to the real estate industry; general economic and market factors; local real estate conditions; interest rates; the availability of equity and debt financing; efficiencies and operating costs; tax related matters; reliance on key personnel; additional funding requirements; governmental regulations; environmental regulation and liability; competition; uninsured risks; litigation; trustees' and officers' conflicts of interest; and the risks associated with the transaction. Readers are cautioned that the foregoing list of factors is not exhaustive. Other risks and uncertainties not presently known to Nobel REIT and Edgefront REIT or that Nobel REIT and Edgefront REIT presently believe are not material could also cause actual results or events to differ materially from those expressed in its forward-looking statements. Additional information on these and other factors that could affect the operations or financial results of Nobel REIT or Edgefront REIT are included in documents filed by Nobel REIT and Edgefront REIT with applicable securities regulatory authorities and may be accessed through the SEDAR website at www.sedar.com. There can be no assurance that the proposed transaction will occur or that the anticipated strategic benefits and operational, competitive and cost synergies will be realized. The proposed transaction is subject to various regulatory approvals and the fulfillment of certain other conditions, including approval of unitholders of Nobel REIT and Edgefront REIT, and there can be no assurance that any such approvals will be obtained and/or any such conditions will be met. The proposed transaction could be modified, restructured or terminated. The forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement. All forward-looking statements in this press release are made as of the date of this press release. Nobel REIT and Edgefront REIT do not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required by law. This news release contains information provided by each of Nobel REIT and Edgefront REIT. The information concerning each of Nobel REIT and Edgefront REIT contained in this news release has been provided by Nobel REIT and Edgefront REIT, as applicable. Although neither Nobel REIT nor Edgefront REIT has knowledge that would indicate that any of information about the other is untrue or incomplete, neither Nobel REIT nor Edgefront REIT assumes any responsibility for the accuracy or completeness of information about the other. 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.


News Article | April 4, 2016
Site: www.greencarcongress.com

« NREL researchers develop novel technique to characterize thermal performance to help develop next-gen electronic components | Main | U Copenhagen team discovers “reverse photosynthesis” process for the breakdown of biomass for fuels or chemicals production » H2 Logic, a subsidiary of NEL ASA, has entered into a contract for the purchase of a facility in Herning, Denmark for the development of a new large-scale production plant for hydrogen refueling stations. The factory will have an annual capacity to manufacture hydrogen refueling stations sufficient to support 200,000 new Fuel Cell Electric Vehicles (FCEV) annually. With a total investment of NOK ~85 million (US$10.25 milion), including contingency, NEL intends to convert the facility into a state-of-the-art volume production facility for refueling stations based on lean manufacturing principles. When ramp-up and plant optimization is complete, the facility will have a name-plate production capacity of up to 300 refueling stations per year. Leading global car manufacturers are introducing FCEVs into more markets and plan for growth in volumes towards 2020 and beyond. This requires an adequate capacity for manufacturing of hydrogen refueling stations to support a wider roll-out of hydrogen infrastructure. The new production facility in Denmark will be prepared for the next generation refueling technology (H2Station) that will offer advances in areas such as increased refueling capacity and performance, reduced footprint and potential for significant cost reductions. The new H2Station technology has been designed for lean volume manufacturing which is essential to achieve sufficient scale benefits. In contrast to many others, NEL is approaching the refueling station business in a mature and professional way. Even if a refueling station is relatively complex, it is just another piece of equipment that has to have a small footprint, high uptime, and low cost of ownership. This can only be achieved through modular design, standardization and volume production based on lean manufacturing principles – this is how we will add value to our customers. Since 2011, H2 Logic has gained experience with volume manufacturing of hydrogen refueling stations, however, at a smaller scale. This has resulted in a market share in Europe of more than 30%. H2 Logic will start to relocate to the new facility in the second half of 2016, and will complete the rebuild and relocation during 2017. The company has also secured 9000 m2 of expansion area adjacent to the Herning facility.


News Article | April 18, 2016
Site: www.greencarcongress.com

Logic A/S (H2 Logic), a subsidiary of NEL ASA (NEL), launched the H2Station CAR-200, a hydrogen refueling station (HRS) that triples the fueling capacity while reducing the footprint to one-third of the current generation. CAR-200 features a new dispenser designed solely for hydrogen fueling. With the size of only one-third of a conventional dispenser it can be placed right next to gasoline. CAR-200 provides a peak rush-hour capacity of up to 100 kg in 3 hours on one fueling hose—similar to that at conventional gas stations, enabling a flexible scaling of capacity as demand grows. Storage can be dimensioned to address a daily fueling demand of up to 200 kg per day and any hydrogen supply configuration. The CAR-200 builds on the operational legacy of the former CAR-100, which is used in multiple countries across Europe and has a documented high performance with close to 99% availability. The station is designed for lean volume manufacturing at the world’s largest factory for hydrogen refueling stations. When ramp-up and plant optimization is complete, the facility will have a name-plate production capacity of up to 300 refueling stations per year, sufficient for refueling 200,000 new fuel cell electric vehicles annually. The new CAR-200 dispenser can be located up to 50 meters away, which enables flexible integration of hydrogen alongside other fueling products, even at very compact sites. The new refueling station can be supplied by centralized hydrogen production delivered by truck, as well as onsite production of hydrogen, enabling NEL to deliver a complete solution to the customer. Delivery of CAR-200 to the first customers will commence during the second half of 2016.


News Article | November 2, 2016
Site: www.businesswire.com

OSLO, Norway--(BUSINESS WIRE)--Regulatory News: Nel ASA (Nel) (OSE:NEL) will announce its third quarter 2016 report on Wednesday 16 November at 07:00 CET and will host an open presentation at 08:00 CET. Location: Hotel Continental, Oslo, Norway Time: 16 November 2016 at 08:00 CET Presenter: Jon André Løkke, Chief Executive Officer Language: Norwegian The presentation will be broadcasted live at www.nel-hydrogen.com and can also be viewed at http://webtv.hegnar.no/presentation.php?webcastId=4009

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