News Article | May 10, 2017
Telecom Argentina ('Telecom') - (NYSE: TEO; BASE: TECO2), one of Argentina's leading telecommunications companies, announced today a Net Income of P$1,966 million for the first quarter ended March 31, 2017, or +110.3% when compared to 1Q16. Net income attributable to Telecom Argentina amounted to P$1,955 million (+111.4% vs. 1Q16). During 1Q17, Consolidated Revenues increased by 18.2% to P$14,726 million (+P$2,271 million vs. 1Q16), mainly fueled by Retail Fixed Voice + Internet and Mobile Services in Argentina. Moreover, Operating Income reached P$2,893 million (+P$896 million or +44.9% vs. 1Q16). As of March 31, 2017, mobile clients amounted to 21.8 million. Third Parties Revenues amounted to P$10,215 million (+13.3% vs. 1Q16) thanks to a commercial strategy of innovation that boosts the consumption of mobile internet services through an updated offer of plans suitable for all market segments. As of March 31, 2017, Personal reached 19.3 million subscribers in Argentina, where postpaid clients represented 34% of the subscriber base. In 1Q17, Third Parties Revenues reached P$9,562 million (+P$1,154 million or +13.7% vs. 1Q16) while Service Revenues (excluding equipment sales) amounted to P$8,109 million (+25.7% vs. 1Q16), with 45.4% corresponding to mobile internet revenues (vs. 34.1% as in 1Q16), as Mobile Internet Revenues amounted to P$3,678 million (+67.0% vs. 1Q16). Revenues from Retail Postpaid reached P$4,833 million (+29.4% vs. 1Q16), while Revenues from Retail Prepaid amounted to P$2,352 million (+10.2% vs. 1Q16). Meanwhile, equipment sales decreased by -25.8% vs. 1Q16, reaching P$1,453 million, equivalent to 15.2% of total revenues. The average monthly revenue per user ('ARPU') amounted to $133.4 during 1Q17 (+27.8% vs. 1Q16), due to higher data consumption. During 1Q17, and in order to continue promoting the evolution towards the 4G service experience, actions were taken to push the update of devices through the launch of new handsets at affordable prices and with financing plans, that complements the offer of commercial plans that include larger quotas of data. At the same time, during the summer season, the Company continued with its disruptive offer for the prepaid customers, allowing them to use unlimited whatsapp without consuming their data quota during certain days, depending on the amount of the recharge. For those customers who traveled abroad, a differential offer in international service was presented: "data passport", providing an accessible alternative for the control of roaming consumptions. These commercial initiatives were supported, in terms of infrastructure, with the rapid deployment of Personal´s 4G / LTE network, which as of the first quarter reached 826 locations throughout the country from La Quiaca to Ushuaia, with an average population coverage of 93% in capital cities. As part of its entertainment strategy associated to music, Personal organized a new edition of the Personal Fest Summer, presenting shows in Mar de Plata, Córdoba, Corrientes, Salta and Rosario. The event, with the participation of well known bands and artists, who performed through different locations, reached more than 200,000 attendees in the 5 editions and more than 600,000 live streaming viewers through its website. Finally, as part of the actions that intend to position the brand in association with sports, Personal accompanied as official sponsor, for the second year in a row, the Argentine Rugby Union in the Super Rugby international tournament, where the Jaguars (Argentina's team) participate. The sponsorship includes associated promotional offers. As of March 31, 2017, Núcleo's subscriber base reached 2.5 million clients. Prepaid and postpaid customers represented 82% and 18%, respectively. Núcleo generated revenues from Third Parties equivalent to P$653 million during 1Q17 (+7.4% vs. 1Q16). Internet revenues amounted to P$285 million (+33.2% vs. 1Q16) representing 45.3% of 1Q17 service revenues (vs. 39.1% in 1Q16). During 1Q17, Revenues generated by Fixed Services amounted to P$4,489 million, +31.8% vs. 1Q16; with Data Revenues growing +18.5% vs. 1Q16, influenced by the variation of the FX rate that underperformed inflation as a significant part of these sales are tied to the evolution of the peso-to-dollar exchange rate, and due to a variation of the exchange rate that was lower than inflation, while Voice + Internet revenues increased by +35.1% vs. 1Q16. Total Voice + Internet revenues reached P$3.676 million in 1Q17 (+35.1% vs. 1Q16). This increase is explained mainly by the migration of more than 1 million customers to bundled packs that include both services, in order to achieve higher levels of customer loyalty and churn reduction. Retail Voice + Internet amounted P$3.328 million (+40.8% vs. 1Q16), while Wholesale Voice + Internet reached P$348 million (-2.2% vs. 1Q16). It is worth to mention that during 1Q17, price increases came into effect in both corporate and residential segments for the fixed voice. As a result, the average monthly revenue billed per user ('ARBU') reached P$134.1 in 1Q17, +65.8% vs. 1Q16. As of March 31, 2017, Telecom reached 1.7 million ADSL accesses. These connections represented 44.5% of Telecom's fixed lines in service. In addition, ADSL ARPU reached P$331.3 in 1Q17, +33.1% when compared to 1Q16 while the monthly churn rate decreased reaching 1.3% in 1Q17 vs. 1.4% in 1Q16. Clients with ultra broadband or UBB services (speeds of 15Mb or higher) currently represent 13% of the total customer base as of 1Q17. Data revenues (services mainly offered to Corporate and Government segments) amounted to P$813 million (+P$127 million or +18.5% vs. 1Q16), that evidence the strong position of Telecom as an integrated ICT provider. This increase was mainly due to FX rate variations that affected those contracts that are adjusted by the $/U$S exchange rate and due to the increase in the number of clients. Consolidated Operating Costs totaled P$11,849 million in 1Q17, an increase of P$1,372 million, or +13.1% vs. 1Q16 (including 'Results on disposal of PP&E and write-down of PP&E' that resulted in a loss of P$72 million in 1Q17 vs. a loss of P$30 million in 1Q16). It is worth to mention that this overall increase is below inflation levels or Revenue growth, which allowed a significant increase in the Company's EBITDA. This was a result of a higher level of efficiency in cost management. Higher costs are mainly associated to the effect of a highly competitive environment in the mobile and Internet businesses, the impact of higher direct and indirect labor costs, the increase in fees for services related to the price adjustment in supplier contracts, increases in taxes and fees with regulatory authorities, in bad debt expenses and higher D&A, that were partially offset by lower cost of handsets sold and commissions, among others. The cost breakdown is as follows: - Employee benefit expenses and severance payments totaled P$2,739 million (+26.0% vs. 1Q16), mainly affected by increases in salaries to unionized and non‐unionized employees together with the associated social security contributions. Finally, total employees at the end of the period amounted to 15,766. - Interconnection costs and other telecommunication charges (including TLRD, Roaming, Interconnection, international settlement charges and lease of circuits) amounted to P$791 million, +11.9% vs. 1Q16. This increase resulted mainly from higher costs related to TLRD. - Fees for services, maintenance, materials and supplies amounted to P$1,359 million (+24.3% vs. 1Q16), mainly due to costs' increases in software maintenance in the fixed segment and systems' licenses in the mobile segment, higher costs related to the deployment of sites in the mobile network and higher storage costs. Higher costs recognized to suppliers in both mobile and fixed segments also explain the increase. - Taxes and fees with regulatory authorities reached P$1,390 million (+15.1% vs. 1Q16), impacted mainly by higher revenues, by higher municipal taxes, as well as higher bank debit and credit taxes related to collection flows and payments to suppliers. - Commissions (Commissions paid to agents, prepaid card commissions and others) totaled P$912 million (+2.5% vs. 1Q16). Decrease in commissions (considered before SAC, P$1,151 million in 1Q17 vs. P$1,231 million in 1Q16) is mainly due to a reduction in commissions paid to commercial channels, associated with lower levels of additions as well as lower handset sales. Agent commissions capitalized as SAC amounted to P$239 million (-29.9% vs. 1Q16). - Cost of handsets sold totaled P$1,160 million (-22.6% vs. 1Q16), this decrease was mainly due to a reduction in quantities of handsets sold partially offset by higher cost per device. Deferred costs from SAC amounted to P$13 million (-62.9% vs. 1Q16). Lower deferred costs were derived from lower equipment sales during the quarter. - Advertising amounted to P$223 million (+16.1% vs. 1Q16), due to new advertising campaigns launched by the Group. - Depreciation and Amortization reached P$1,673 million (+21.7% vs. 1Q16). PP&E depreciation amounted to P$1,190 million (+27.5% vs. 1Q16) resulting from the incorporation of assets related to the investment plan that the Group has been executing; the amortization of SAC and service connection costs that totaled P$391 million (+15.7% vs. 1Q16); the amortization of 3G/4G licenses that amounted to P$85 million (-13.3% vs. 1Q16), due to the extension in the duration of the license as the 700MHz band remains partially unavailable, and the amortization of other intangible assets that reached P$7 million (+16.7% vs. 1Q16). - Other Costs totaled P$1,530 million (+16.9% vs. 1Q16), of which Bad debt expenses reached P$342 million (+34.1% vs. 1Q16), mainly influenced by the financing plans for the sale of handsets in the mobile business, representing 2.9% of consolidated costs and 2.3% of consolidated revenues, increase that was partially offset by a decrease on VAS costs that totaled P$283 million (-27.4% vs. 1Q16), due new controls implemented in the platform that manages these contents so as to assure the customers' acceptance of the service. Net Financial Results totaled a gain of P$124 million, an improvement of P$681 million vs. 1Q16. This was mainly due to lower financial costs generated by a lower loss in net financial interests of P$216 million in 1Q17 (+P$94 million vs. 1Q16) and positive results on losses of FX results net of NDF instruments for P$290 million in 1Q17 (vs. a loss of P$420 million in 1Q16) mainly due to the peso appreciation that occurred since December 2016. Meanwhile, gains on mutual funds and other investments amounted to P$67 million (-P$129 million vs. 1Q16). As of March 31, 2017, Net Debt Financial Position (Cash, Cash Equivalents and financial Investments minus Loans) totaled P$3,023 million, a decrease of P$271 million when compared to the Net Financial Position as of March 31, 2016, mostly due to an increase in operating cash flow during 1Q17; highlighting this improvement that occurred both by an increase in EBITDA and by a greater efficiency in working capital management. During 1Q17, the Company invested P$1,678 million (-11.8% vs. 1Q16). Of this amount, P$643 million were allocated to Fixed Services and P$1,035 million to Mobile services, focusing on projects that maximize network capacity and on the development of products and services that contribute to address the customers needs that today demand for connectivity and data availability. In relative terms, Capex reached 11.4% of consolidated revenues vs. 15.3% in 1Q16. In February, the Telecom Group put into commercial service the core of its mobile network with NFV (Network Function Virtualization) infrastructure. The Company became one of the pioneers in Latin America to enter the world of convergent virtualized networks. This qualitative leap from the technological point of view, along with the modernization that is being performed in the overall network infrastructure, will allow innovation in products and services, and to improve the user experience so as to support a high quality service to the customers. Moreover, in April 2017, the Company's new charging system was implemented, a tool that allows us to quickly adapt to market needs in a flexible and less time-consuming manner, as well as to innovate with new product schemes. This milestone implies a modernization of Personal's network, which increases its capacity and security, generating substantial improvements in the customer experience. On March 17, 2017, the Company received notice from its indirect controlling shareholder Sofora Telecomunicaciones S.A. ("Sofora"), who informed that its shareholders had expressed their wish that the Board of Directors of Sofora as well as the ones of its subsidiaries Nortel Inversora S.A. ("Nortel"), Telecom Argentina S.A. ("Telecom Argentina") and Telecom Personal S.A. ("Telecom Personal") evaluate a corporate reorganization at the head of Telecom Argentina S.A. as the surviving company, aiming to conclude this reorganization during the current year. This project seeks to simplify the shareholding structure of Telecom Argentina in line with international standards and market practices. In this context, it has been agreed that Sofora amortizes, in the terms of Article 223 of the General Corporate Law No. 19,550, the shares owned by W de Argentina Inversiones S.A. ("WAI") as follows: (i) 17% of the capital stock of Sofora in the first place and (ii) once the corresponding regulatory requirements have been met, the remaining 15% of WAI's stake in Sofora. Once both amortizations are realized, Fintech Telecom LLC will control 100% of the share capital of Sofora consolidating all the economic and corporate rights of the Company. Moreover, on March 31, 2017, the Board of Directors of Telecom Argentina S.A., Sofora Telecomunicaciones S.A., Nortel Inversora S.A. and Telecom Personal S.A. approved the Preliminary Merger Agreement by which they agree that Telecom Argentina will absorb by merger Nortel, Sofora and Telecom Personal, in accordance with the terms of Sections 82 and 83 of the General Corporate Law, and ad referendum of the corporate and regulatory approvals established in said Commitment. Resulting from the Reorganization and effective as of the Reorganization Effectiveness Date: (i) all the assets and liabilities of the Absorbed Companies shall be transferred to the Surviving Company at the values included in the respective Special-Purpose Unconsolidated Financial Statements, causing Telecom Argentina to acquire ownership of all rights and to assume all obligations and liabilities of any nature of Telecom Personal, Sofora and Nortel including (ii) Telecom Argentina shall be the successor of all activities of Telecom Personal, Sofora and Nortel. Regarding the aforementioned corporate reorganization and in order to facilitate the merger process by concentrating the entire capital stock of the Absorbed Company (Telecom Personal) under the ownership of the Surviving Company (Telecom Argentina), The Board of Directors of Nortel and Telecom Argentina approved on March 31, 2017 the sale of 120,000 shares of Telecom Personal, held by Nortel, to Telecom Argentina, for the amount of P$ 4,000,000, -. As a consequence of this transaction, as of March 31, 2017, Telecom Argentina owns 100% of Telecom Personal. Finally, The Board of Directors of the Company, resolved to summon a General Ordinary and Extraordinary Shareholders' Meeting of Telecom Argentina to be held on May 23, 2017 on the first call, in order to consider the corporate reorganization described herein and the documentation approved by the Board of Directors. The General Ordinary and Extraordinary Shareholders' Meeting held on April 27, 2017 has adopted the following resolutions, among others: On October 4, 2016, Núcleo's Board of Directors authorized the execution of the shares purchase option that TU VES S.A (Chile) granted to Núcleo in order to acquire the controlling interest in TUVES Paraguay ('Tuves'). On October 6, 2016 Tuves' shareholders accepted Núcleo's proposal for executing the shares purchase option (70% Tuves' total capital), being subject to the CONATEL's previous approval. On April 11, 2017, by Resolution No. 460/2017, the Board of Directors of CONATEL authorized TU VES S.A. (Chile) to transfer in favor of Núcleo 350 shares of Tuves that represent 70% of its capital. With this authorization given by CONATEL, Núcleo will proceed to close the transaction in the terms agreed with the sellers during the second quarter of 2017. On April 7, 2017, Personal and the Inter-American Investment Corporation ("IIC"), a member of the Inter-American Development Bank ( "IDB") Group, signed a loan agreement ("IIC Loan") for an amount of US$100 million and for a six year period, payable in 8 equal half-yearly installments starting the first on the 24th month, with a 6 month LIBO rate + 400bp. The funds of this loan will be allocated to deploy the 4G network and for financing working capital and other financial needs. Telecom is the parent company of a leading telecommunications group in Argentina, where it offers, either itself or through its controlled subsidiaries local and long distance fixed-line telephony, cellular, data transmission and Internet services, among other services. Additionally, through a controlled subsidiary, the Telecom Group offers cellular services in Paraguay. The Company commenced operations on November 8, 1990, upon the Argentine government's transfer of the telecommunications system in the northern region of Argentina. Nortel Inversora S.A. ("Nortel"), which acquired the majority of the Company from the Argentine government, holds 54.74% of Telecom's issued common stock. Nortel is a holding company whose common stock (approximately 78% of capital stock) is owned by Sofora Telecomunicaciones S.A. Additionally, Nortel capital stock is comprised of preferred shares that are held by minority shareholders. As of March 31, 2017, Telecom continued to have 984,380,978 shares issued and 969,159,605 shares outstanding. For more information, please contact Investor Relations: This document may contain statements that could constitute forward-looking statements, including, but not limited to, the Company's expectations for its future performance, revenues, income, earnings per share, capital expenditures, dividends, liquidity and capital structure; the effects of its debt restructuring process; the impact of emergency laws enacted by the Argentine Government; and the impact of rate changes and competition on the Company's future financial performance. Forward-looking statements may be identified by words such as "believes," "expects," "anticipates," "projects," "intends," "should," "seeks," "estimates," "future" or other similar expressions. Forward-looking statements involve risks and uncertainties that could significantly affect the Company's expected results. The risks and uncertainties include, but are not limited to, the impact of emergency laws enacted by the Argentine government that have resulted in the repeal of Argentina's Convertibility law, devaluation of the peso, various changes in restrictions on the ability to exchange pesos into foreign currencies, and currency transfer policy generally, the "pesification" of tariffs charged for public services, the elimination of indexes to adjust rates charged for public services and the Executive branch announcement to renegotiate the terms of the concessions granted to public service providers, including Telecom. Due to extensive changes in laws and economic and business conditions in Argentina, it is difficult to predict the impact of these changes on the Company's financial condition. Other factors may include, but are not limited to, the evolution of the economy in Argentina, growing inflationary pressure and evolution in consumer spending and the outcome of certain legal proceedings. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as the date of this document. The Company undertakes no obligation to release publicly the results of any revisions to forward-looking statements which may be made to reflect events and circumstances after the date of this press release, including, without limitation, changes in the Company's business or to reflect the occurrence of unanticipated events. Readers are encouraged to consult the Company's Annual Report on Form 20-F, as well as periodic filings made on Form 6-K, which are filed with or furnished to the United States Securities and Exchange Commission for further information concerning risks and uncertainties faced by Telecom. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/telecom-argentina-sa-announces-consolidated-first-quarter-results-for-fiscal-year-2017-1q17-300455699.html
News Article | April 17, 2017
AUCKLAND, NEW ZEALAND--(Marketwired - April 11, 2017) - Vista Entertainment Solutions (VES), the leading provider of cinema software for the global theatrical market and a subsidiary of Vista Group International (NZX: VGL) ( : VES and its French business partner Côté Ciné Group (CCG) have reached a key milestone in introducing Vista Cinema, its core cinema operations product, in France -- the fourth largest cinema market globally. In its first implementation for a local French circuit, Vista Cinema has now gone live across all four cinema sites of the Ciné-Movida circuit. Ciné-Movida is a new customer for CCG/Vista Cinema and the installation coincides with a major refurbishment of Cine-Movida's largest site (Méga Castillet) in Perpignan. In addition, Veezi, VES' cinema management software for independent exhibitors, has been implemented at a Virtual Reality (VR) site for the MK2 circuit in France. It's the most recent win for Veezi at a VR facility and confirms that VR experiences represent an exciting new segment for Veezi in Europe and the USA. "These signings reflect our growing impact on the French cinema market," said Mischa Kay, Managing Director, VES for EMEA. "France is such a vital and important part of the global theatrical business and boasts some of the world's most avid filmgoers. We're thrilled to be expanding our footprint there and providing bottom line-enhancing software for circuits throughout the country." About Vista Group International: Vista Group International (Vista Group) is a public company, listed on both the New Zealand and Australian stock exchanges (NZX: VGL) ( : VGL). Vista Group provides cinema management, film distribution and customer analytics software to companies across the global film industry. Cinema management software is provided by Vista Entertainment Solutions, the core business of the Group. Movio (authority in moviegoer data analytics), Veezi (cloud-based SaaS software for the Independent Cinema Market), MACCS International (film distribution software), Numero (box office reporting software for film distributors and cinemas), Cinema Intelligence by Share Dimension (business intelligence solutions), Powster (creative studio and marketing platform for movie studios) and Flicks (moviegoer 'go to' portal for movie information) provide products that leverage the success of this platform into other parts of the film industry; from production and distribution, to cinema exhibition through to the moviegoer experience. Vista Group has over 500 staff across nine offices in New Zealand (Auckland headquarters), Sydney, Los Angeles, Dallas, London, the Netherlands, Romania and China.
News Article | April 17, 2017
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 12, 2017) - Millennial Lithium Corp. (TSX VENTURE:ML)(FRANKFURT:A3N2)(OTCQB:MLNLF) ("Millennial" or the "Company") is pleased to report favorable results from a geophysical survey at their Cauchari East Project in the Cauchari-Olaroz basin of Jujuy Province, Argentina. Results of the survey show continuity of known lithium-bearing brine aquifers into and likely throughout Millennial's property. The 100% owned Cauchari East Project covers an area of 2,990 hectares on the eastern side of the Cauchari-Olaroz Salar, adjacent to the Orocobre/Advantage Cauchari Project and the Lithium Americas/SQM advanced-stage Cauchari-Olaroz Project. In March, Millennial engaged Tecnología y Recursos (TyR), a Salta-based geophysics consulting group, to conduct a 10 station Vertical Electrical Sounding (VES) survey over Cauchari East. The survey identified a sharp contrast between high resistivity upper zones and low resistivity (conductive) lower zones. Low electrical resistivity in this type of survey can be indicative of brine-bearing sediments. Technical reports from adjacent properties controlled by Lithium America's Corp., confirm that the brine-bearing aquifer is related to a low resistivity horizon. These horizons under Cauchari East are likely the continuation of the known brine-bearing aquifers of the Olaroz and Cauchari basins. Measurements taken from most survey stations demonstrate good potential for continuous lithium brine mineralization. A north-south profile over the northern property block identifies a continuous 72 to 105 metre thick conductive layer extending from productive aquifers of the present-day Olaroz salar. As that layer extends into the southern block of Cauchari East, it thickens beyond the capacity of the VES survey to detect the lower resistive zone. An east-west profile in the southern block further supports continuity with the Cauchari basin aquifers. In addition, the profile identifies what appears to be a structurally confined sub-basin containing the deep conductive zone continuous with the north-south profile. The complete report can be found on the company's website. "The results of the Cauchari East geophysics affirm that lithium brine-bearing aquifers beneath the present day Cauchari-Olaroz salars are related to an older, larger salar footprint. From the data we conclude that the aquifers extend beneath more recent alluvial cover. These results clearly justify an investment in a drill program at Cauchari East," stated Iain Scarr, Chief Operations Officer. Permitting for a drill program is underway and the required public consultations and Jujuy Government approvals are anticipated to be completed in the second quarter of 2017. Millennial also reports it has made the 2nd payment, totaling $500,000 USD and 500,000 common shares, to acquire its 100-per-cent interest in the Pastos Grandes project. This property, which is part of Millennial's larger land holdings, consists of 1,200 hectares of prospective lithium brine exploitation concessions in the Pastos Grandes Salar in Salta, Argentina. This news release has been reviewed by Iain Scarr, AIPG CPG., COO of the Company and a qualified person as that term is defined in National Instrument 43-101. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 an applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of USD$ for Cdn$, fluctuations in the market for lithium, changes in exploration costs and government royalties or taxes in Argentina and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.
News Article | November 16, 2016
Electronic toll collection system is an automated system, eliminating manual operations by toll payers and receivers. The global ETC market is expected to steer towards a strong double-digit growth rate in the coming five years (2015-2020). The primary drivers of the upcoming growth comprise the need to save travel time, cashless travel facility, the need to stop/minimize the traffic congestion and fast toll transaction. However, factors like high installation cost and a high dependence on government are hindering the growth of this market to some extent. The ETC market is expected to continue its rapid expansion to meet the surging demand for an improved, safe and secure infrastructure. The ETC system provides fast, efficient and cost-effective services. They have easy to operate buttons with a user-friendly design. They are also beneficial for traffic agencies and companies as these systems eliminate the need for multiple toll plazas, acting as a cost-saving factor for road operator agencies. Electronic toll collection systems have a positive impact on the environment as it reduces the amount of exhaust emitted from vehicles during start-up and stop at manual toll booths. The ETC market can be categorised into products, technologies, applications and geographies. Transponders, antennae, communication systems, treadles, inductive loops, scanning devices, weigh-in-motion devices, cameras and film storage devices are some of the major products of the system. An electronic toll collection system consists of various subsystems, such as automatic vehicle identification (AVI), automatic vehicle classification (AVC), back-office &integration and violation enforcement system (VES). These subsystems are useful for specific functions -AVI for vehicle identification, AVC for vehicle classification, toll collection transaction by integrating the back-office and payment system and VES to reduce unpaid tolls, by vehicle imaging. On the basis of technologies, the ETC market can be segmented into various categories, such as radio-frequency identification (RFID), dedicated short-range communications (DSRC), video analytics, global navigation satellite system (GNSS) and global positioning system (GPS).Currently RFID and DSRC are the leading technologies. On the other hand, the GNSS and GPS are expected to show a high growth rate in following five years (2015-2020). Based on applications, the ETC market can be categorized into segments like highway, urban and bridges. Undoubtedly, ETC systems have been installed majorly on highways, but installation in urban areas and on bridges has a bright future opportunity. Geographically, the ETC market can be segmented into North America, Latin America, Asia Pacific, Japan, Western Europe, Eastern Europe, and Middle East & Africa. Present market scenario represents a strong presence of ETC system in the US, Canada and Mexico in North America, South Korea, Taiwan, Thailand, Malaysia, Hong Kong, Philippines and Singapore in Asia Pacific, and the UK, Ireland, Portugal, France, Germany, Italy and Spain in Europe. Some of the key players in the ETC market are Honeywell International, Inc., Transurban, Transtoll Pty Ltd., Transcore Holdings, Inc., Toll Collect GmbH, TRMI Systems Integration, Sensor Dynamics, Xerox Corporation, 3M, Connect East, EFKON, SAIC, DENSO, Q-Free, Mitsubishi Heavy Industries, Ltd., Perceptics, Thales Group and Kapsch TrafficCom AG. The ETC ecosystem participants offer a wide range of solutions, such as software services and system integration and toll system operations including maintenance, payment handling and revenue assurance. It is the future solution to alleviating traffic congestion problems.
News Article | February 15, 2017
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 9, 2017) - Argentina Lithium & Energy Corp. (TSX VENTURE:LIT)(FRANKFURT:OAY1)(WKN:A0RK7E)(OTCQB:PNXLF) ("Argentina Lithium" or the "Company") is pleased to report that it has secured the necessary permits to complete detailed exploration work at the Arizaro Lithium Project ("the Project") on the Arizaro Salar in Salta Province, Argentina. The Company is now mobilizing equipment to create access routes on the 20,500 hectare property. Detailed exploration work is expected to commence in mid-February. This will include both near-surface geochemical sampling and a Vertical Electric Sounding (VES) geophysical survey to delineate conductive zones at depth that may host lithium-bearing brines. Data from this first stage of the program will be used to define targets for a drill program that is planned for early in the second quarter of 2017. "We are excited to be taking the first step in a systematic exploration program to investigate the Arizaro Project for lithium-rich brines," said Nikolaos Cacos, President and C.E.O. "At the same time we are initiating baseline environmental studies and community engagement programs, in anticipation of drilling, and potentially resource delineation, later this year." The Company has the option to earn a 100% interest in the Arizaro Lithium Brine Project, including 20,500 hectares in the central core of the Arizaro Salar, the largest in Argentina and third largest in the "Lithium Triangle". Very little historic exploration work has been done on the Arizaro Salar, however the central area is interpreted to have the geologic conditions and thickness to be the most prospective for quality brine resources. Furthermore, the Arizaro Salar benefits from a strategic location for infrastructure, including: a railway that connects to the deep water port of Antofagasta, nearby advanced mining projects that are expected to bring significant development of access routes and power, and the availability of water for development. For additional information on the Project please see the Company website www.argentinalithium.com. The contents of this news release have been reviewed and approved by David Terry, Ph.D., P.Geo. Dr. Terry is a Director of the Company and a Qualified Person as defined in National Instrument 43-101. ON BEHALF OF THE BOARD Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements.
News Article | February 21, 2017
VANCOUVER, B.C., Feb. 21, 2017 (GLOBE NEWSWIRE) -- NRG Metals Inc. (“NRG” or the “Company”) (TSX-V:NGZ) (OTC Pink:GPOFF) (Frankfurt:OGPN). The Company is pleased to announce the expansion of the Carachi Pampa Lithium Project located in Catamarca Province, Argentina (the “Project”), to a total of 29,182 hectares, which now comprises most of the Carachi Pampa basin, and can now be classed as “district scale” sized project. All documentation has been accepted for filing by the TSX Venture Exchange (the “Exchange”), and the common shares of the Company will resume trading Tuesday, February 21, 2017. The Project is now comprised of five contiguous claim groups. The Luz Maria Claim Group, which was the first acquisition signed by the Company, and resulted in a Fundamental Acquisition and trading halt as per Exchange policy, was re-negotiated on terms similar to the additional acquisitions. During the trading halt, Company management sought to consolidate the entire basin into one project area. Four other contiguous claim packages, the Beatriz, La Fortuna, Padre José María and Sofía claim groups were optioned. Initial payments for the entire package collectively total USD$172,911 and 100,000 shares, with no further payments due until the completion of a drill program and receipt of results satisfactory to the Company. Upon the receipt of satisfactory results, the Company will make payments totaling USD$535,000, the issuance of an additional 100,000 shares and to enter into definitive agreements for the property package. Further payments to the owners will result in a total purchase price of USD$6,717,911 over a 54 month period (full details are available at the Company’s website, www.nrgmetalsinc.com). The Company will file the amended agreement for the Luz Maria Claim Group, and the additional projects, as an exempt transaction. The Project is situated 40 kilometers south of the town of Antofagasta de la Sierra, Catamarca, at approximately 3,000 meters elevation. This region of Argentina is host to the Hombre Muerto Salar where FMC is producing approximately 20,000 tonnes of lithium carbonate equivalent per year and Galaxy Resources’ is developing the large Sal de Vida project (the Company cautions these deposits may not be indicative of mineralization at the Carachi Pampa Paleo Salar; further exploration is required). There is a provincial road within 10 kilometers of the Project area, and local support services are located nearby. A National Instrument 43-101 Technical Report (the “Report”) entitled “Technical Report on the Carachi Pampa Lithium Project, Catamarca Province, Argentina”, completed by Rojas y Asociados Mining Consultants of Mendoza, Argentina, has been accepted by the Exchange and filed on SEDAR. The full Report is available at the Company’s website at www.nrgmetalsinc.com. Details of the Report include the results of a surface Vertical Electrical Survey (“VES”). The VES geophysical survey was conducted by Conhidro S.R.L. (“Conhidro”) from Catamarca and Salta, Argentina. This method has been used extensively in Argentina to successfully delineate potential brine zones below surface. Based on the VES resistivity data, four separate zones or units with distinct resistivity characteristics were identified (Figure 1). The first three units are characterized by relatively high resistivity and are therefore not likely to contain brine. However, the fourth unit has extremely low resistivity, which is characteristic of brine zones. The fourth zone, which is shown in pink in the figure referenced below, was the target of the investigation. It is a highly conductive zone with resistivity values that range from 0.1 to 1.4 ohm/m and is interpreted by Conhidro to represent a zone of saturated brines. The zone begins at a depth of 70 meters in the southwest portion of the claim group, and it dips to a depth of 300 meters to the north northeast part of the claim group. The zone is at least 150 meters thick, and it is open at depth and in all directions laterally. An attachment accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/ef84cce6-6858-4cbc-9580-1a0090cf8861 The Report establishes the Project as a property of merit, and recommends an exploratory drill program. An environmental impact assessment has been completed and filed with the relevant governmental authorities to obtain a permit to drill the Project. Company management has initiated a bid process for the first phase of drilling on the Project. Proposals have been received and are under review. All environmental studies necessary to obtain drill permission have been completed and filed. Dr. Arthur Darryl Drummond, P.Eng., who is a member of the Association of Professional Engineers of British Columbia (Lic. #5778), and a Qualified Person as defined in National Instrument 43-101 has prepared, and supervised the preparation of this press release and approves the technical and scientific disclosure of the press release. Resumption of trading in the Company’s shares is expected to occur on Tuesday, February 21, 2017 at market open following the issuance of the Exchange bulletin. On Behalf of the Board of Directors, The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release. This news release contains certain “forward- looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this news release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this news release. We seek safe harbor.
News Article | November 28, 2016
NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES Neo Lithium Corp. ("Neo Lithium" or the "Company") (TSX VENTURE: NLC) has received initial geophysical results from Conhidro SRL on the high-grade lithium northern target. The northern target encompasses a high-grade area that extends for approximately 14 km in length and 3 km in width with an average lithium concentration of 895 mg/l and potassium concentration of 7,694 mg/L (please refer to Neo Lithium's press release dated July 20th, 2016). Vertical Electrical Sounding (VES) was completed in twelve stations, which represent about 40% of the total geophysical program being undertaken covering approximately 50% of the northern target. Results show that this portion of the salar is composed of three main layers, consisting of: the upper highly conductive layer that has a thickness of 6 metres to 60 metres, the second intermediate conductive layer which has a thickness of 60 metres to 240 metres, and the third more resistive layer is below 240 metres. The three layers are interpreted to be the upper saturated brine layer, the intermediate semi-saturated brine layer and the deeper compact halite core layer. Drilling will begin during the first week in December down to 250 metres to test all three layers, which will encompass brine sampling at discrete 10 metre intervals using packers to isolate each layer, core sampling to test drainable porosity of each unit as well as down-hole geophysics to carry electrical logging and gamma ray down the hole. Drilling will be completed in batteries of 4 wells located approximately 25 metres from each other to carry out pump tests of the confined and unconfined aquifers. Neo Lithium Corp. is quickly becoming the most prominent new name in lithium brine exploration by virtue of its quality 3Q project and experienced team. Already well capitalized, Neo Lithium is rapidly advancing its newly discovered 3Q project -- a unique high-grade lithium brine lake and salar complex in the Latin America's Lithium Triangle. The 3Q project is located in the Province of Catamarca, the largest lithium producer in Argentina. The Project covers approximately 35,000 ha and the salar complex within this area is approximately 160 km2. Recent exploration results indicate a high-grade lithium target (895 mg/l average lithium concentration) in the northern portion of the salar complex extending for approximately 14x3 km with the combined lowest magnesium and sulphate impurities in the industry. Low impurities are a key factor in traditional low cost evaporation techniques for final lithium carbonate production. Hot springs on the property with elevated lithium content are part of the recharge system of the salar complex. The technical team that discovered this unique salar complex is one of the most experienced in the modern era in lithium salars, having discovered and led the technical work, including resource definition and full feasibility study that established the Cauchari lithium salar as the third largest lithium brine resource in the world. Additional information regarding Neo Lithium Corp. is available on SEDAR at www.sedar.com under the Company's profile. Waldo Perez, Ph.D, P.Geo., the CEO and President of Neo Lithium Corp. is the Qualified Person who approved the scientific and technical disclosure in the news release. Geophysical Survey is being conducted by a reputable independent contractor Conhidro SRL using a CGEG DUK A2 equipment with stainless steel electrodes located at a maximum distance of 1300 metres. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way approved nor disapproved the contents of this press release. Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements. Such statements include but are not limited to, statements as to the achievable concentrations of lithium from the 3Q's Project's brine, that test results are indicative of future results, the sufficiency and suitability of available land for pond construction, the suitability of brine from the 3Q Project for lithium carbonate production and the process therefor, and the future construction of pilot ponds and the timing therefor. Generally, forward-looking statements can be identified by the use of words such as "plans", "expects" or "is expected", "scheduled", "estimates" "intends", "anticipates", "believes", or variations of such words and phrases, or statements that certain actions, events or results "can", "may", "could", "would", "should", "might" or "will", occur or be achieved, or the negative connotations thereof. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such statements. Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended and undue reliance should not be placed on forward-looking statements
News Article | February 15, 2017
NEW YORK, NY--(Marketwired - Feb 14, 2017) - MoviePass, the nation's largest theatrical subscription service, has announced a strategic collaboration with Vista Group International (Vista). Vista company Vista Entertainment Solutions (VES) is the leading global provider of cinema management software solutions servicing 12,000 screens, representing +40% of the U.S. market. Today's announcement will allow theatre owners and chains nationwide that use the VES ticketing solution to take advantage of full API integration with MoviePass' growing subscription service. By integrating MoviePass directly into the VES ticketing software, participating theaters will be able to offer MoviePass members enhanced features and new capabilities on mobile devices. These features include: "We have seen the data and firmly believe in the future of subscription in the theatrical space. The model brings enormous benefits for exhibitors, distributors and moviegoers alike, and with our collaboration with MoviePass, we will be working alongside them to help bring this concept to mainstream adoption," said Derek Forbes, Chief Operating Officer at Vista. "MoviePass was the early pioneer in this space and we believe that it will play a critical role in changing how the next generation of consumers go to the movies." With $11bn annul spend on Movie tickets plus an equal amount of concessions, MoviePass' subscription model has become the de facto standard in driving a lift in theater attendance month-over-month. Exhibitors integrated with MoviePass have shown a 100% lift in attendance behavior, 123% lift in concession spend and 50% lift on midweek attendance at theaters. MoviePass members also represent the future of movie going, with 75% of its user base under the age of 35 years old (See: Mather Research Report). "As we embark on our next phase of growth, we couldn't be more excited about collaborating with an organization such as Vista Entertainment Solutions. Today's joint announcement will be a major step forward in reinventing the theatrical experience for every part of the food chain. In combination with MoviePass' attractive pricing plans and compelling market drivers for exhibitors, studios, concession providers and other partners, we believe Vista will be a significant distribution platform that will allow us to catalyze the theatrical space. We are confident that our aligned incentives will lead to a long and profitable relationship with Vista," said Mitch Lowe, CEO of MoviePass. "Not only does our data show that MoviePass members go to the movies twice as often, but they also increase attendance to lower profile films, which often lack the marketing budgets of the big blockbusters." About Vista Group International Vista Group International (Vista Group) is a public company listed on both the New Zealand and Australian stock exchanges (NZX & ASX: VGL). Vista Group provides cinema management, film distribution and customer analytics software to companies across the global film industry. Cinema management software is provided by Vista Entertainment Solutions, the core business of the Group. Movio (data analytics), Veezi (cloud-based SaaS software for the Independent Circuit Market), MACCS International (film distribution software), Numero (box office reporting software for film distributors and cinemas), Cinema Intelligence by Share Dimension (business intelligence solutions), and Powster (creative studio and marketing platform for movie studios), provide products that leverage the success of this platform into other parts of the film industry; from production and distribution, to cinema exhibition through to the moviegoer experience. Vista Group has over 500 staff across nine offices in New Zealand (Auckland headquarters), Sydney, London, Los Angeles, the Netherlands, Romania and Shanghai. About MoviePass MoviePass is a technology company dedicated to enhancing the exploration of cinema. As the nation's premier movie-theater subscription service, MoviePass provides film enthusiasts with a variety of subscription options to enhance their movie-going experience. The service, now accepted at more than 98% of theaters across the United States, is the nation's largest theater network. Visit: www.moviepass.com
News Article | February 22, 2017
Strategic Marketing Firm to sponsor an executive leadership summit with the purpose of stimulating mid-market growth DALLAS, TX--(Marketwired - February 22, 2017) - Chief Outsiders, LLC, the nation's leading marketing consulting firm comprised solely of C-level marketing executives, is sponsoring the Dallas/Fort Worth Vistage Executive Summit (VES) on Thursday, February 23, 2017 from 7:15 a.m. to 4:00 p.m.at the Irving Convention Center. This year's theme of Driving Dynamic Decisions will allow DFW leaders (or Chief Problem Solvers) to gain insights to make better decisions by refining their instincts, improving their judgement and expanding their perspectives. As national sponsors of Vistage, DFW VES is one of 100 Vistage events that Chief Outsiders sponsors. Those representing Chief Outsiders at their booth this year at the Dallas/Fort Worth event are: Chief Outsiders is comprised of more than 50 experienced, fractional CMOs, and almost half of them participate in Vistage groups. Among the workshops presented to Vistage and other groups is Chief Outsiders CEO Art Saxby's "What's the Difference Between Sales and Marketing?" This program walks executives through a process of applying specific market insights to a company's sales and marketing functions, as a means of maximizing business growth opportunities. (The basis of the workshop comes from Saxby's blog of the same title, which remains the most read Chief Outsiders blog.) Chief Outsiders -- ranked as one of the Inc. Magazine's fastest growing privately held companies in the U.S. -- has several certified Vistage speakers who actively speak to Vistage groups, other CEO groups and universities. Pete Hayes, Principal at Chief Outsiders, is a certified Convene Speaker who will be speaking to a group of 200 CEOs at The Alternative Board (TAB) in March and a group of 700 at the C12 National Conference in September. The #1 Amazon Best Selling book The Growth Gears, co-authored by Chief Outsiders CEO Art Saxby and Principal Pete Hayes, helps fellow CEOs better understand the types of insights, strategies and tactical details that are "must-haves" in a well-designed growth plan. "Saxby and Hayes provide smart, practical advice for anyone leading a company in today's increasingly complex world," said Vistage CEO Sam Reese about The Growth Gears. "Their market-based approach challenges CEOs to venture outside the four walls of their organizations to better understand the values, attitudes and behaviors of those responsible for growing today's companies-their customers." What Chief Outsiders Clients in Dallas/Fort Worth Are Saying Two of Chief Outsiders Dallas/Fort Worth clients talk about the value Chief Outsiders offers its clients. "The visual impact of our new trade show booth and its larger-than-life photo wall convey the overall company brand that elicits emotion and is nothing less than show stopping," remarked David Baker, Partner at Aereos. "The result of the management team working with Chief Outsiders has increased employee excitement, industry awareness, booth traffic, orders and revenue." See the case study on how Chief Outsiders helped Kings III Emergency Communications division, SoloProtect, launch a new safety solution to grow recurring revenue. For additional information about companies who trust Chief Outsiders as their premier source for business growth acceleration, click here. Chief Outsiders, LLC is a nationwide "Executives-as-a-Service" firm, helps grow mid-sized companies from coast-to-coast with more than 50 part-time, or fractional, Chief Marketing Officers (CMOs) engaged coast-to-coast. Unlike other strategic marketing and management consulting firms, each CMO has held a position of VP Marketing or higher at one or more operating companies. Chief Outsiders have served on the executive team of over 300 client companies to drive growth strategy and execution plans for a fraction of the cost of a full time executive. Because of its market-based growth plans, quality of leadership and experienced team, Chief Outsiders was recently listed by Inc Magazine as one of the 1,000 fastest growing privately held companies in the US (in the top 25 in Houston), and was recognized for the Houston Business Journal's Fast 100. Chief Outsiders' CEO Art Saxby and Principal Pete Hayes are the co-authors of "The Growth Gears: Using a Market-Based Framework to Drive Business Success," an Amazon #1 best-seller for business owners and CEOs.
News Article | February 17, 2017
Azov VES planning to build 90MW wind farm in the Rostov region, in the southern part of the country