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TORONTO, ONTARIO--(Marketwired - May 16, 2017) - Ascendant Resources Inc. (TSX VENTURE:ASND) ("Ascendant" or the "Company") is very pleased to announce that Mr. Guillermo Kaelin will stand for election to the Company's Board of Directors at the upcoming Annual and Special Meeting of shareholders to be held on June 21st, 2017. Mr. Kaelin is a capital markets professional with over 18 years of experience in private equity, investment banking, research and public securities. Mr. Kaelin is currently the Head of Latin America of Appian Capital Advisory LLP and focuses on originating investments, structuring transactions and selecting management teams within Latin America. Previously, Mr. Kaelin served as a Managing Director with Arias Resource Capital Management LP ("ARCM"), a mining focused Private Equity Fund which he joined in 2008. Prior to joining ARCM, Mr. Kaelin spent several years with the Investment Banking Division of JP Morgan in New York within its Metals & Mining Group. Previously, he was with Banco Wiese Sudameris in Peru as both a credit officer and a senior research analyst. Mr. Kaelin has an MBA from the University of Chicago, an MS in Finance from ESAN (Peru) and a BS in Industrial Engineering from the Universidad de Lima. He served as a Director for Sierra Metals and Chairman of the Board for Sociedad Minera Corona, and currently is a Board Member and Advisor of W Capital (Peruvian Investment Fund). Chris Buncic, President and CEO of Ascendant commented: "We are delighted to nominate Mr. Kaelin for election to the Board at the upcoming shareholder meeting, as his experience in the analysis and execution of both private and public mining transactions will be a great asset to Ascendant as the Company embarks on an aggressive growth trajectory." Mark Brennan, Executive Chairman of Ascendant commented: "On behalf of the entire Board, I am very pleased to welcome the nomination of Mr. Kaelin to Ascendant's Board of Directors. Aside from his extensive contact base and mining knowledge globally and in Latin America that will be very useful to Ascendant moving forward, Mr. Kaelin brings a strong analytical eye to the table." Further details of the Annual and Special Meeting of shareholders can be found on the Company's SEDAR profile at www.sedar.com and will be included in a Management Information Circular, which is expected to be mailed to shareholders on or about May 30, 2017. Ascendant Resources Inc. is a mining issuer focused on its flagship operating asset, the producing El Mochito zinc, silver and lead mine in west-central Honduras in which the Company has a 100% interest. El Mochito has been in almost continuous production since 1948. More broadly, the Company evaluates producing and advanced development stage mineral resource acquisition opportunities in North, South and Central America, on an ongoing basis. The Company's common shares are listed on the TSX Venture Exchange under the symbol "ASND". For more information on Ascendant Resources, please visit our website at www.ascendantresources.com. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information is based on reasonable assumptions that have been made by Ascendant as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Ascendant to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the uncertainty of election of Guillermo Kaelin to the Company's Board of Directors: production statistics; ore grades; tonnes milled; recovery rates; operating costs; the timing and amount of estimated future production; capital expenditures; the impact of general business and economic conditions; the ability of the Company to increase production; the arrival of new equipment; problems inherent to the marketability of base and precious metals; industry conditions, including fluctuations in the price of base and precious metals, fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Ascendant; stock market volatility; competition; and such other factors described or referred to elsewhere herein, including unanticipated and/or unusual events. Many such factors are beyond Ascendant's ability to control or predict. Although Ascendant has attempted to identify important factors that could cause actual outcomes to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate as actual outcomes and future events could differ materially from those reliant on forward-looking information. All of the forward-looking information given in this press release is qualified by these cautionary statements and readers are cautioned not to put undue reliance on forward-looking information due to its inherent uncertainty. Ascendant disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. This forward-looking information should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.


On Friday, shares in New York-based Empire State Realty Trust Inc. recorded a trading volume of 760,320 shares, which was lower than their three months average volume of 852,120 shares. The stock ended the day 1.60% higher at $20.96. Shares of the Company, which focuses on owning, managing, operating, and acquiring office and retail properties in Manhattan and the greater New York metropolitan area, are trading at a PE ratio of 55.30. Empire State Realty Trust's stock has advanced 0.05% in the last one month and 2.97% in the previous three months. Furthermore, the stock has gained 12.17% in the past one year. The Company's shares are trading above its 200-day moving average by 2.86%. Furthermore, shares of Empire State Realty Trust have a Relative Strength Index (RSI) of 47.48. Free research report on ESRT is available at: New York-based Drive Shack Inc.'s stock finished Friday's session 1.24% lower at $3.97 with a total volume of 403,286 shares traded. Shares of the Company, which operates as a real estate investment trust in the US, are trading at a PE ratio of 3.83. The Company's shares are trading below its 50-day and 200-day moving averages by 3.56% and 6.51%, respectively. Drive Shack's stock has an RSI of 40.53. The complimentary research report on DS can be downloaded at: New York-based Resource Capital Corp.'s stock advanced 1.79%, to close the day at $9.66. The stock recorded a trading volume of 259,657 shares. Resource Capital's shares have gained 3.09% in the last one month and 13.11% in the previous three months. The Company's shares are trading 5.25% above its 50-day moving average. Additionally, shares of the Company, which focuses on the origination, holding, and management of commercial mortgage loans and other commercial real estate-related debt investments in the US, have an RSI of 63.25. Visit us today and access our complete research report on RSO at: On Friday, shares in Philadelphia, Pennsylvania-based RAIT Financial Trust ended the session 1.82% lower at $2.70 with a total volume of 486,655 shares traded. RAIT Financial Trust's shares have advanced 0.08% in the past one year. The stock is trading 11.87% below its 50-day moving average and 13.55% below its 200-day moving average. Moreover, shares of the Company, which operates as a self-managed and self-advised REIT, have an RSI of 32.51. Get free access to your research report on RAS at: Stock Callers (SC) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. SC has two distinct and independent departments. 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News Article | August 10, 2017
Site: globenewswire.com

NEW YORK, Aug. 10, 2017 (GLOBE NEWSWIRE) -- Resource Capital Corp. (NYSE:RSO) (the “Company”) today announced that it plans to offer $125.0 million aggregate principal amount of convertible senior notes due 2022 in an underwritten public offering (the “Notes”). The Company expects to grant the underwriters a 30-day option to purchase up to an additional $18.75 million aggregate principal amount of the Notes in connection with the offering solely to cover over-allotments. The Notes will be senior unsecured obligations of the Company. The interest rate and offering price are to be determined by negotiations between the Company and the underwriters of the offering. The Company intends to use the net proceeds from the offering to repurchase a portion of its 6.00% convertible senior notes due 2018 and its 8.00% convertible senior notes due 2020 through privately negotiated transactions, open market purchases or otherwise. The amount, timing and price at which such repurchase transactions may be effected will be in the sole discretion of the Company. Although the Company intends to use the net proceeds from this offering to repurchase a portion of the 2018 notes and 2020 notes, the Company does not have the right to call any such notes prior to their maturity, and, therefore, the Company may not be successful in repurchasing any such notes. Any remaining net proceeds of the offering will be used for general corporate purposes. Credit Suisse Securities (USA) LLC is acting as bookrunner for the offering.  JMP Securities LLC is acting as co-manager for the offering. A registration statement relating to the Notes has been declared effective by the Securities and Exchange Commission (the “SEC”). The offering is being made only by means of a prospectus supplement and accompanying base prospectus. Copies of the prospectus supplement and the related prospectus for the proposed offering, when available, may be obtained by contacting Credit Suisse Prospectus Department at One Madison Avenue, New York, New York 10010, by email at newyork.prospectus@credit-suisse.com or by telephone at 1-800-221-1037. This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. Resource Capital Corp. is a real estate investment trust that is primarily focused on originating, holding and managing commercial mortgage loans and other commercial real estate-related debt investments. The Company is externally managed by Resource Capital Manager, Inc., which is an indirect wholly-owned subsidiary of C-III Capital Partners LLC, a leading commercial real estate investment management and services company engaged in a broad range of activities. This press release includes statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements made in this release include, but may not be limited to, this offering and expectations regarding the use of proceeds from this offering. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. Investors are cautioned not to rely unduly on any forward-looking statements and urged to carefully consider the risks identified under the captions “Risk Factors,” “Forward-Looking Statements” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s public filings with the SEC. Resource Capital Corp. undertakes no obligation to update or revise any forward-looking statement to reflect new or changing information or events.


News Article | August 10, 2017
Site: globenewswire.com

NEW YORK, Aug. 10, 2017 (GLOBE NEWSWIRE) -- Resource Capital Corp. (NYSE:RSO) (the “Company”) today announced that it priced $132,161,000 aggregate principal amount of its 4.50% convertible senior notes due 2022 (the “Notes”), including $110,000,000 in an underwritten public offering and an additional $22,161,000 in exchange for the same amount of outstanding convertible notes of the Company.  In addition, the Company granted the underwriters a 30-day option to purchase up to an additional $11,589,000 aggregate principal amount of the Notes in connection with the public offering, solely to cover over-allotments, if any. The Notes will be senior unsecured obligations of the Company. The offering is expected to close on August 16, 2017, subject to the satisfaction of certain customary closing conditions. Interest on the Notes will be payable semiannually in arrears on February 15 and August 15 of each year, beginning on February 15, 2018; and the Notes will mature on August 15, 2022 unless earlier repurchased or converted. Upon conversion, holders of the Notes will receive shares of the Company’s common stock, cash or a combination of cash and shares, at the Company’s election. If the Company undergoes a “fundamental change” (as defined in the prospectus supplement relating to the Notes), subject to certain conditions, holders of the Notes may require the Company to repurchase for cash all or part of such holders’ Notes.  The fundamental change repurchase price for the Notes will be 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, up to, but excluding, the fundamental change repurchase date. At any time prior to the close of business on the business day immediately preceding the maturity date, holders may convert any or all of their Notes into shares of the Company’s common stock at the applicable conversion rate. Any conversion of Notes into shares of the Company’s common stock will be subject to certain ownership limitations (as more fully described in the prospectus supplement relating to the Notes).  The initial conversion rate for each $1,000 principal amount of the Notes is approximately 78.2473 shares of common stock, equivalent to a conversion price of approximately $12.78 per share of common stock, which is a 20% premium to the closing price of the Company’s common stock on August 10, 2017.  The Company may not redeem the Notes prior to the maturity date. The Company intends to use the net proceeds from the offering to repurchase a portion of its 6% convertible senior notes due 2018 and its 8% convertible senior notes due 2020.  Any remaining net proceeds of the offering will be used for general corporate purposes. Credit Suisse Securities (USA) LLC is acting as bookrunner for the offering.  JMP Securities LLC is acting as co-manager for the offering. A registration statement relating to the Notes has been declared effective by the Securities and Exchange Commission (the “SEC”). The offering is being made only by means of a prospectus supplement and accompanying base prospectus. Copies of the prospectus supplement and the related prospectus for the proposed offering, when available, may be obtained by contacting the Credit Suisse Prospectus Department at One Madison Avenue, New York, New York 10010, or by email at newyork.prospectus@credit-suisse.com or by telephone at 1-800-221-1037. This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes, nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. Resource Capital Corp. is a real estate investment trust that is primarily focused on originating, holding and managing commercial mortgage loans and other commercial real estate-related debt investments. The Company is externally managed by Resource Capital Manager, Inc., an indirect wholly-owned subsidiary of C-III Capital Partners LLC, a leading commercial real estate investment management and services company engaged in a broad range of activities. This press release includes statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements made in this release include, but may not be limited to, this offering and expectations regarding the use of proceeds from this offering. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. Investors are cautioned not to rely unduly on any forward-looking statements and urged to carefully consider the risks identified under the captions “Risk Factors,” “Forward-Looking Statements” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s public filings with the SEC. Resource Capital Corp. undertakes no obligation to update or revise any forward-looking statement to reflect new or changing information or events.


News Article | August 3, 2017
Site: globenewswire.com

NEW YORK, Aug. 02, 2017 (GLOBE NEWSWIRE) -- Resource Capital Corp. (NYSE:RSO) reported results for the three and six months ended June 30, 2017. The following table summarizes RSO's CRE loan activities and fundings of previous commitments, at par, for the three, six and twelve months ended June 30, 2017 (in millions, except percentages): At July 31, 2017, RSO's liquidity consisted of two primary sources: At June 30, 2017, RSO’s book value per common share was $14.12, a decrease from $14.17 per common share at December 31, 2016.  The decrease in book value over the six month period was attributable to the following: dividends paid of $0.10 per common share (decrease); $0.04 per common share attributable to the vesting of restricted stock (decrease); $0.08 per common share resulting from market adjustments on available-for-sale securities and interest rate hedges (decrease); and net income of $0.17 per common share (increase). Total stockholders’ equity at June 30, 2017, which measures equity before accounting for non-controlling interests, was $705.4 million, of which $270.1 million was attributable to preferred stock. Total stockholders’ equity at December 31, 2016 was $704.3 million, of which $270.1 million was attributable to preferred stock. The following table summarizes the amortized cost and net carrying amount of RSO's investment portfolio at June 30, 2017, classified by asset type (in thousands, except percentages): The following schedules of reconciliations and supplemental information at June 30, 2017 are included at the end of this release: RSO is a real estate investment trust that is primarily focused on originating, holding and managing commercial mortgage loans and other CRE-related debt investments. RSO has historically made other commercial finance investments. RSO is externally managed by Resource Capital Manager, Inc., an indirect wholly-owned subsidiary of Resource America, Inc ("Resource America").  In September 2016, Resource America was acquired by C-III Capital Partners LLC, a leading CRE investment management and services company engaged in a broad range of activities. For more information, please visit RSO's website at www.resourcecapitalcorp.com or contact investor relations at pkamdar@resourcecapitalcorp.com. Statements made in this release may include forward-looking statements, which involve substantial risks and uncertainties.  RSO's actual results, performance or achievements could differ materially from those expressed or implied in this release.  The risks and uncertainties associated with forward-looking statements contained in this release include those related to: For further information concerning these and other risks pertaining to the forward-looking statements contained in this release, and to the general risks to which RSO is subject, see Item 1A, "Risk Factors" included in its Annual Report on Form 10-K for the year ended December 31, 2016 and the risks expressed in other of its public filings with the Securities and Exchange Commission. RSO cautions you not to place undue reliance on any forward-looking statements contained in this release, which speak only as of the date of this release.  All subsequent written and oral forward-looking statements attributable to RSO or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this release.  Except to the extent required by applicable law or regulation, RSO undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Furthermore, certain non-GAAP financial measures are discussed in this release.  RSO's presentation of this information is not intended to be considered in isolation of or as a substitute for the financial information presented in accordance with GAAP.  Reconciliations of these non-GAAP financial measures to the most comparable measures prepared in accordance with GAAP are set forth in Schedule I of this release and can be accessed through RSO's filings with the SEC at www.sec.gov. The remainder of this release contains RSO's unaudited consolidated balance sheets, unaudited consolidated statements of operations, a reconciliation of GAAP net income (loss) to core earnings, a summary of securitization performance statistics, RSO's strategic plan update and supplemental information regarding RSO's CRE loan portfolio and loans held for sale. RESOURCE CAPITAL CORP. AND SUBSIDIARIES RECONCILIATION OF GAAP NET INCOME (LOSS) TO CORE EARNINGS (unaudited) Beginning with the three months and year ended December 31, 2016, RSO uses Core Earnings as a non-GAAP financial measure to evaluate its operating performance.  RSO previously used Adjusted Funds from Operations as a non-GAAP measure of operating performance. Core Earnings exclude the effects of certain transactions and GAAP adjustments that RSO believes are not indicative of its current CRE loan portfolio and other CRE related investments and operations.  Core Earnings exclude income (loss) from all non-core assets, such as Commercial Finance, Middle Market Lending, Residential Mortgage Lending, legacy CRE loans and other non-CRE assets designated as assets held for sale at the initial measurement date.(1) Core Earnings is defined as GAAP net income (loss) allocable to common shareholders, excluding (i) non-cash equity compensation expense, (ii) incentive fees payable to our external manager, (iii) unrealized gains and losses, (iv) non-cash provisions for loan losses, (v) non-cash impairments on securities, (vi) non-cash amortization of discounts or premiums associated with borrowings, (vii) net income or loss from a limited partnership interest owned at the initial measurement date, (viii) net income or loss from non-core assets,(2) (ix) real estate depreciation and amortization and (x) foreign currency gains or losses. Core Earnings may also be adjusted periodically to exclude certain one-time events pursuant to changes in GAAP and certain non-cash items. Core Earnings does not represent net income or cash generated from operating activities and should not be considered as an alternative to GAAP net income or as a measure of liquidity under GAAP.  RSO's methodology for calculating Core Earnings may differ from methodologies used by other companies to calculate similar supplemental performance measures, and, accordingly, its reported Core Earnings may not be comparable to similar performance measures used by other companies. The following table provides a reconciliation from GAAP net income allocable to common shares to Core Earnings for the periods presented (in thousands, except per share data): We have five operating segments: Commercial Real Estate Debt Investments; Commercial Finance; Middle Market Lending; Residential Mortgage Lending; and Corporate & Other. The Commercial Real Estate Debt Investments operating segment includes our activities and operations related to commercial real estate loans and commercial real estate-related securities. The Commercial Finance operating segment includes our activities and operations related to syndicated corporate loans, syndicated corporate loan-related securities and direct financing leases. The Middle Market Lending operating segment includes our activities and operations related to the origination and purchase of middle market corporate loans. The Residential Mortgage Lending operating segment includes our activities and operations related to originating and servicing residential mortgage loans and investments in residential mortgage-backed securities.  The Corporate & Other segment includes corporate level interest income, interest expense, inter-segment eliminations not allocable to any particular operating segment and general and administrative expense. As part of our plan to exit non-CRE businesses, the entire Middle Market Lending and substantially all of the Residential Mortgage Lending segments are reported as discontinued operations.  The following table presents a reconciliation of GAAP net income (loss) to Core Earnings for the three months ended June 30, 2017 presented by operating segment (in thousands, except per share data): The following table sets forth the distributions made by and coverage test summaries for RSO's securitizations for the periods presented (in thousands): In November 2016, the board of directors approved the Plan, pursuant to which RSO is focused on making CRE debt investments going forward.  The Plan includes disposing of certain non-core businesses and investments and underperforming legacy CRE loans ("Identified Assets"), as well as maintaining a dividend policy based on sustainable earnings. As part of the Plan, certain Identified Assets were reclassified as discontinued operations ("Discops") and/or assets held for sale ("AHFS") during the fourth quarter of 2016.  The following table delineates these disposable investments by business segment and details the current net book value of the businesses and investments included in the Plan (in millions): The following table presents information on RSO's allowances for loan losses and its loans held for sale portfolio for the periods indicated (based on amortized cost): The following table presents CRE loan portfolio statistics at June 30, 2017 (based on carrying value):


NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES US$1,850,000 in advance funding from Corcoran spinoff transaction received to date of the US$2,000,000 total Preparation for gold production continues on track at Dufferin mine and mill; test milling of low grade materials yielded 87% recovery of gold in gravity concentrates; high grade materials yielded 96% recovery Resource Capital Gold Corp. (TSX VENTURE: RCG) ("RCG" or the "Company") is pleased to announce that the Board of Directors has appointed Mr. Greg Gibson, currently the President and CEO of Sprott Mining Company, to its Board of Directors. Mr. Gibson will replace Dr. Michael G. Nelson, who will join the Company's Advisory Board. The Company would like to thank Dr. Nelson for his service on the Board of Directors and looks forward to his continued assistance in an advisory capacity. In addition to serving as a member of the Board of Directors, Mr. Gibson will also chair the Company's Technical Committee and will assist the Company in its imminent start up operations at the Dufferin Mine and in the activities of ramping up the operations to full capacity. Mr. Gibson is President and CEO of Sprott Mining and Jerritt Canyon Gold LLC. He has more than 30 years' experience in the mining industry as a miner, mine manager, director, CEO and President. Greg's experience has focused on gold and copper mines primarily in Canada, US, and Australia. He successfully led Trelawney Mining and Exploration as President, CEO and director from an early explorer to the $608 million sale to IAMGOLD in 2012. Greg is Chairman and Interim CEO of Metanor Resources Inc. A director of Ascot Resources, Sprott Mining Inc., and Jerritt Canyon Canada. "We are very pleased to welcome Greg Gibson to our Board of Directors, who will bring us tremendous mine development experience to add to our existing staff experience," said George S. Young, CEO of RCG. "While the final preparations at Dufferin for the commencement of operations have been substantially completed, Greg will be instrumental in the smooth ramp up from the initial operating level toward full production rates at the mine and the mill. Once we have completed that ramp up, we will be in an excellent position to immediately commence development at the Forest Hill and Tangier properties with the experience gained at Dufferin. Preliminary Economic Assessments on those projects are already underway." RCG is also pleased to announce that it has received a total to date of US$1,850,000 in advance funding toward the total cash amount of US$2,000,000 for the sale of the Corcoran project. With the receipt of these funds and the recent receipt of the mining lease for the Dufferin project from the Nova Scotia Department of Natural Resources, preparations for commencement of full operations at its Dufferin Gold Mine and Mill ("Dufferin Project") continue on track.1 Test milling operations of both low grade and high grade materials have been successfully carried out at Dufferin. Gold recoveries from the low grade materials of 87% were generated following initial testing and adjustments in the mill circuits. Recoveries of 96% of contained gold were generated from test milling of the high grade materials. Final adjustments are being made to the mill, in particular to the gravity table and in the processes for cleaning of the gravity concentrations prior to the pouring of gold bars for sale. About Resource Capital Gold and the Dufferin Project Resource Capital Gold Corp. is developing the high-grade Dufferin Gold Mine and mill in Nova Scotia, with initial gold production from test milling achieved in March 2017. The Dufferin project covers 1,684 hectares in 104 mineral claims which contain more than 14 east-west trending "saddle reef" quartz vein gold-bearing structures, each with free-milling gold. The stacked gold reefs are open at depth and extend along trend for over 4.7 kilometers. The Company is also advancing the Tangier and Forest Hill gold projects and is preparing preliminary economic assessments ("PEA's") on both. Forest Hill is an advanced gold project with a drilled gold resource. Gold was discovered in 1893, followed by production, which up to 1916 produced 26,792 ounces at an overall recovered grade of 16.6 g/t Au. In the 1980s, a 230-m shaft was sunk and approximately 94,000 tonnes of ore mined. A total of 10 km of underground workings exist on the project, along with 249 surface drill holes totaling 34,413 m and 127 underground drill holes totaling 7,267 m. The project comprises 1,840 hectares in 115 exploration claims. Steeply dipping stratabound quartz veins on the south limb of the east-west trending Forest Hill anticline contain free-milling gold. Numerous veins have been encountered on the property, and they have been tracked for over 600 m along strike and 250 m down dip with excellent continuity demonstrated by drilling and mine workings. The project shows very good grades, and bulk sampling during the 1980s returned grades between 9.2 g/t Au and 13.8 g/t Au for diluted ore, with 94.9% overall recovery, of which 74.2% recovery was attained by gravity methods alone. The expansion potential at Forest Hill is very good, with mineralization open at depth along the entire mineralized system. Tangier was the site of the first gold discovery in Nova Scotia in 1860. Total historic gold production up to 1919 is estimated at 29,000 ounces at a recovered grade of 17.5 g/t Au. The property saw several phases of bulk sampling during the 1980s and 1990s, the best of which was 2,578 tonnes with a recovered grade of approximately 16 g/t Au. A total of 211 surface and underground drill holes have been completed on the property. Past mining activities have developed 3,300 m of underground workings. The mine sits on a project area of 1,904 hectares in 119 exploration claims. The Tangier gold deposit is situated along the east-west trending Tangier anticline, a structure that has been traced for 7.3 km. Within this anticline, two sections totaling 1.4 km have been explored with drilling and past mining, which demonstrate good continuity of gold-bearing quartz veins to depths of 300 m. Gold-bearing quartz veins have been identified over a total strike length of 3.4 km on the property. This work has identified 70 or more gold-bearing quartz veins, demonstrating an extensive mineralized system. Mineralization at Tangier consists of coarse flake gold and nuggets in generally stratabound quartz veins up to 1.5 meters thick containing calcite and up to 5% sulfide minerals, including pyrite, pyrrhotite, arsenopyrite, sphalerite, and galena. The characteristics of the mineralization indicate that the deposit is an orogenic gold deposit, similar to the Dufferin Mine and others in Nova Scotia's Meguma Terrane. The scientific and technical data contained in this news release was reviewed and approved by Michael P. Gross, M.Sc., P.Geo., who is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. On behalf of the Board of Directors of Resource Capital Gold Corp. 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 contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about the Company's plans to conclude the sale of the Corcoran project including the share dividend (there is no assurance that AUSAG will successfully complete an initial public offering in Australia or list on the ASX or become a reporting issuer in Canada and dual list on a Canada stock exchange), and the Company's plans for Dufferin. and the respective timing for completion of any activities to further such plans, the results of the PEA and the ability of the Company to achieve those results, including capital and operating costs, mine life, anticipated internal rate of return and net present value, payback period, ramp-up periods, production costs, production parameters, recovery rates, assumptions on which the PEA is based including metal prices and exchange rates, and the Company's prospects for growth and the ability to attain such growth. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including, without limitation, risks as a result of the Company having a limited operating history, uncertainty as to the ability to achieve the results described in the PEA as the PEA is preliminary in nature and may have a wide variance from actual results, risks from making a production decision without any feasibility study completed on the Company's properties, uncertainty regarding the inclusion of inferred mineral resources in the mineral resource estimate which are too speculative geologically to be classified as mineral reserves, uncertainty regarding the ability to convert any part of the mineral resource into mineral reserves, uncertainty involving resource estimates and the ability to extract those resources economically, or at all, uncertainty involving drilling programs and the Company's ability to expand and upgrade existing resource estimates, any applicable regulatory processes and actions, risks applicable to mining operations generally, and risk as a result of the Company being subject to certain covenants with respect to its activities by creditors, as well as other risks. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. 1 The Company is not basing its production decision on a feasibility study of mineral reserves demonstrating economic and technical viability; as a result there is increased uncertainty and economic and technical risks of failure associated with its production decision.


News Article | May 12, 2017
Site: www.marketwired.com

ROAD TOWN, BRITISH VIRGIN ISLANDS--(Marketwired - May 12, 2017) - Talon Metals Corp. ("Talon" or the "Company") (TSX: TLO) reported a net loss for the three months ended March 31, 2017 of $1.9 million or $0.01 per share (basic and diluted), which was primarily the result of the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan and administration expenses. This compares to net income for the three months ended March 31, 2016 of $1.8 million or $0.01 per share (basic and diluted), which was primarily the result of the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan, offset by administration expenses and a loss on investments. Capitalized exploration costs and deferred expenditures on the Tamarack Nickel-Copper-PGE Project for the three months ended March 31, 2017 amounted to $1.0 million. This compares to $21.2 million for the three months ended March 31, 2016. The total capitalized exploration cost on the Tamarack Nickel-Copper-PGE Project to March 31, 2017 amounts to $38.1 million. Condensed Consolidated Interim Financial Statements for the three months ended March 31, 2017 and 2016, together with Management's Discussion and Analysis, have been filed on SEDAR and are available at www.sedar.com. Talon is a TSX-listed company focused on the exploration and development of the Tamarack Nickel-Copper-PGE Project in Minnesota, USA (which comprises the Tamarack North Project and the Tamarack South Project). The Company has a well-qualified exploration and mine management team with extensive experience in project management.


News Article | May 9, 2017
Site: www.marketwired.com

NEW YORK, NY--(Marketwired - May 9, 2017) - Resource Capital Corp. ( : RSO) (the "Company"), a real estate investment trust focused on originating, holding and managing commercial mortgage loans and other commercial real estate-related debt investments, today announced that Matthew J. Stern has been appointed as its President. Mr. Stern brings a wealth of corporate finance, transactional and business development expertise to this new role. He will oversee day-to-day operations, growth initiatives, corporate finance planning and broadening the Company's relationships with capital sources. Mr. Stern is a Senior Managing Director of Island Capital Group LLC ("Island Capital"), a leading international real estate merchant bank, and its portfolio company C-III Capital Partners LLC ("C-III"). C-III has owned the Company's external manager since C-III acquired Resource America, Inc. ("Resource America") in September 2016. Mr. Stern led C-III's deal team overseeing the acquisition, and he has served as an Executive Vice President of Resource America since the transaction closed. "We are excited to welcome Matt Stern as our new President. He is a key member of the C-III team, and we believe his valuable skillset and in-depth knowledge of the Company make him exceptionally qualified for the role," said Andrew L. Farkas, Chairman of Resource Capital Corp., C-III and Island Capital. "Matt's appointment as President underscores our commitment to fully leverage the expertise and resources of the C-III platform to grow and improve the Company." Mr. Stern, age 43, joined C-III and Island Capital in 2010, and he is a senior member of their investment banking, corporate finance and business development teams. Prior to joining C-III and Island Capital, Mr. Stern served as Managing Director of the investment banking and corporate finance group at Centerline Capital Group ("Centerline" and now Hunt Mortgage Group), where he was responsible for Centerline's mergers and acquisitions and corporate finance functions. Before joining Centerline in 2006, Mr. Stern worked in the Global Mergers & Acquisitions Group at Lehman Brothers Holdings Inc., focusing on mergers and acquisitions, capital markets and finance transactions. Resource Capital Corp. is a real estate investment trust that is primarily focused on originating, holding and managing commercial mortgage loans and other commercial real estate-related debt investments. The Company is externally managed by Resource Capital Manager, Inc., which is an indirect wholly-owned subsidiary of C-III, a leading commercial real estate investment management and services company engaged in a broad range of activities. More information about the Company can be found on its website at www.resourcecapitalcorp.com or by contacting Marketing and Investor Relations at pkamdar@resourcecapitalcorp.com.


News Article | May 9, 2017
Site: www.marketwired.com

Resource Capital Corp. ( : RSO) reported results for the three months ended March 31, 2017. The following table summarizes RSO's CRE loan activities and fundings of previous commitments, at par, for the three and 12 months ended March 31, 2017 (in millions, except percentages): At April 30, 2017, RSO's liquidity consisted of two primary sources: At March 31, 2017, RSO's book value per common share was $14.16, a decrease from $14.17 per common share at December 31, 2016. The decrease in book value over the three month period was attributable to the following: dividends paid of $0.05 per common share (decrease); $0.05 per common share of expense attributable to the vesting of restricted stock (decrease); and net income of $0.09 per common share (increase). Total stockholders' equity at March 31, 2017, which measures equity before accounting for non-controlling interests, was $706.4 million, of which $270.1 million was attributable to preferred stock. Total stockholders' equity at December 31, 2016 was $704.3 million, of which $270.1 million was attributable to preferred stock. The following table summarizes the amortized cost and net carrying amount of RSO's investment portfolio at March 31, 2017, classified by asset type (in thousands, except percentages): The following schedules of reconciliations and supplemental information at March 31, 2017 are included at the end of this release: RSO is a real estate investment trust that is primarily focused on originating, holding and managing commercial mortgage loans and other commercial real estate-related debt investments. RSO has historically made other commercial finance investments. RSO is externally managed by Resource Capital Manager, Inc., an indirect wholly-owned subsidiary of Resource America, Inc. In September 2016, Resource America was acquired by C-III Capital Partners LLC, a leading commercial real estate investment management and services company engaged in a broad range of activities. For more information, please visit RSO's website at www.resourcecapitalcorp.com or contact investor relations at pkamdar@resourcecapitalcorp.com. Statements made in this release may include forward-looking statements, which involve substantial risks and uncertainties. RSO's actual results, performance or achievements could differ materially from those expressed or implied in this release. The risks and uncertainties associated with forward-looking statements contained in this release include those related to: For further information concerning these and other risks pertaining to the forward-looking statements contained in this release, and to the general risks to which RSO is subject, see Item 1A, "Risk Factors" included in its Annual Report on Form 10-K and the risks expressed in other of its public filings with the Securities and Exchange Commission. RSO cautions you not to place undue reliance on any forward-looking statements contained in this release, which speak only as of the date of this release. All subsequent written and oral forward-looking statements attributable to RSO or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this release. Except to the extent required by applicable law or regulation, RSO undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Furthermore, certain non-GAAP financial measures are discussed in this release. RSO's presentation of this information is not intended to be considered in isolation of or as a substitute for the financial information presented in accordance with GAAP. Reconciliations of these non-GAAP financial measures to the most comparable measures prepared in accordance with GAAP are set forth in Schedule I of this release and can be accessed through RSO's filings with the SEC at www.sec.gov. The remainder of this release contains RSO's unaudited consolidated balance sheets, unaudited consolidated statements of operations, a reconciliation of GAAP net income (loss) to core earnings, a summary of securitization performance statistics, RSO's strategic plan update and supplemental information regarding RSO's CRE loan portfolio and loans held for sale. RESOURCE CAPITAL CORP. AND SUBSIDIARIES RECONCILIATION OF GAAP NET INCOME (LOSS) TO CORE EARNINGS (in thousands, except per share data) (unaudited) Beginning with the three months and year ended December 31, 2016, RSO uses Core Earnings as a non-GAAP financial measure to evaluate its operating performance. RSO previously used Adjusted Funds from Operations as a non-GAAP measure of operating performance. Core Earnings exclude the effects of certain transactions and GAAP adjustments that RSO believes are not indicative of its current CRE loan portfolio and other CRE related investments and operations. Core Earnings exclude income (loss) from all non-core assets, such as Commercial Finance, Middle Market Lending, Residential Mortgage Lending, legacy CRE loans and other non-CRE assets designated as assets held for sale at the initial measurement date.(1) Core Earnings is defined as GAAP net income (loss) allocable to common shareholders, excluding (i) non-cash equity compensation expense, (ii) incentive fees payable to our external manager, (iii) unrealized gains and losses, (iv) non-cash provisions for loan losses, (v) non-cash impairments on securities, (vi) non-cash amortization of discounts or premiums associated with borrowings, (vii) net income or loss from a limited partnership interest owned at the initial measurement date, (viii) net income or loss from non-core assets,(2) (ix) real estate depreciation and amortization and (x) foreign currency gains or losses. Core Earnings may also be adjusted periodically to exclude certain one-time events pursuant to changes in GAAP and certain non-cash items. Core Earnings does not represent net income or cash generated from operating activities and should not be considered as an alternative to GAAP net income or as a measure of liquidity under GAAP. RSO's methodology for calculating Core Earnings may differ from methodologies used by other companies to calculate similar supplemental performance measures, and, accordingly, its reported Core Earnings may not be comparable to similar performance measures used by other companies. The following table provides a reconciliation from GAAP net income allocable to common shares to Core Earnings for the periods presented (in thousands, except per share data): We have five operating segments: Commercial Real Estate Debt Investments; Commercial Finance; Middle Market Lending; Residential Mortgage Lending; and Corporate & Other. The Commercial Real Estate Debt Investments operating segment includes our activities and operations related to commercial real estate loans and commercial real estate-related securities. The Commercial Finance operating segment includes our activities and operations related to syndicated corporate loans, syndicated corporate loan-related securities and direct financing leases. The Middle Market Lending operating segment includes our activities and operations related to the origination and purchase of middle market corporate loans. The Residential Mortgage Lending operating segment includes our activities and operations related to originating and servicing residential mortgage loans and investments in residential mortgage-backed securities. The Corporate & Other segment includes corporate level interest income, interest expense, inter-segment eliminations not allocable to any particular operating segment and general and administrative expense. As part of our plan to exit non-CRE businesses, the entire Middle Market Lending and substantially all of the Residential Mortgage Lending segments are reported as discontinued operations. The following table presents a reconciliation of GAAP net income (loss) to Core Earnings for the three months ended March 31, 2017 presented by operating segment (in thousands, except per share data): The following table sets forth the distributions made by and coverage test summaries for RSO's securitizations for the periods presented (in thousands): In November 2016 the board of directors approved the Plan, pursuant to which RSO is focused on making CRE debt investments going forward. The Plan includes disposing of certain non-core businesses and investments and underperforming legacy CRE loans ("Identified Assets"), as well as maintaining a dividend policy based on sustainable earnings. As part of the Plan, the Identified Assets were reclassified as discontinued operations ("Discops") and/or assets held for sale ("AHFS") during the fourth quarter of 2016. The following table delineates these disposable investments by business segment and details the current net book value of the businesses and investments included in the Plan. RESOURCE CAPITAL CORP. AND SUBSIDIARIES SUPPLEMENTAL INFORMATION (in thousands, except percentages) The following table presents information on RSO's allowances for loan losses and its loans held for sale portfolio for the periods indicated (based on amortized cost): The following table presents CRE loan portfolio statistics at March 31, 2017 (based on carrying value):


News Article | May 12, 2017
Site: www.marketwired.com

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES Resource Capital Gold Corp. (TSX VENTURE: RCG) ("RCG" or the "Company") announces that it is issuing this news release to update the information contained in its news release titled "Resource Capital Gold Sets Record Date of May 15, 2017 for Share Dividend From Sale of Corcoran Silver Project" dated May 03, 2017 related to the Company issuing a dividend of shares it will hold in AUSAG Resources Pty Ltd ("AUSAG"). The Company has determined to postpone setting the record date for this dividend until such time as AUSAG has completed its initial public offering and lists on the Australian Securities Exchange. On behalf of the Board of Directors of Resource Capital Gold Corp. 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 contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about the use of proceeds of the Financing. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

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