Month: March 2018

immunoprecise

Immunoprecise Antibodies Delivers Record Quarterly Revenue of $1.723 Million and Increases Gross Margins To 54%

Immunoprecise Antibodies Delivers Record Quarterly Revenue of $1.723 Million and Increases Gross Margins To 54%

Canada NewsWire

VICTORIA, March 28, 2018

VICTORIA, March 28, 2018 /CNW/ – IMMUNOPRECISE ANTIBODIES LTD. (the “Company” or “IPA”) (TSX Venture: IPA, OTC PINK: IPATF) today reports its financial results for the third quarter ended January 31, 2018.  The financial statements and related management’s discussion and analysis (“MD&A”) can be viewed on SEDAR at www.sedar.com.

During the three months ended January 31, 2018 the Company achieved record quarterly revenue of $1,723,308 compared to $510,835 in 2017. This represents a 237% increase in revenue and stems from the acquisition of U-Protein Express B.V. (“U-Protein”) and the Company’s ability to grow its capacity in its core business and expand its market share to Europe.  Additionally, the Company’s gross margin percentage has increased to 54% from 24% in 2017 as a result of integration and efficiency investments and shifting our services towards toward higher margin offerings such as RMAT (Recombinant Monoclonal Antibody Technology) and humanized antibody production.

The Company recorded a net loss of $1,211,591 during the three months ended January 31, 2018, compared to $4,437,261in 2017.  The net loss in 2017 was mostly due to a listing expense of $3,847,160 related to the completion of the reverse takeover transaction.  This was a one-time, non-cash expense.  The Company’s net loss in 2018 is mostly attributed to one-time costs for items such as systems development, business development and operational efficiencies.  Additionally, the Company incurred non-recurring M&A costs in connection with its acquisitions and investments.

“The Company has had significant increases in organic growth with a healthy pipeline of recurring and new, therapeutic antibody clients, and we also anticipate that, similar to UPE, near-term acquisition activity will be immediately accretive, with a positive impact on the group of companies’ revenues and earnings,” commented Jennifer Bath, CEO of the Company. “We predict the positive revenue trajectory will continue.”

The Company’s continued focus is to aggressively expand its share of the antibody therapeutics market by becoming a leading, integrated antibody solutions company addressing all aspects of the therapeutic antibody discovery value chain through the application of conventional, novel, and advanced technologies.  We have begun strategic investments and acquisitions to obtain the most comprehensive offering and to corner the market in the most promising of these technologies.

The U-Protein acquisition added a state-of-the-art laboratory, licenses, intellectual property, and strong customer relationships in Europe. U-Protein continues to grow its revenues and serves as an accretive investment.

On March 16, 2018, the Company announced that it has entered into the definitive share purchase agreement to acquire all of the issued and outstanding shares of ModiQuest Research B.V. (“Modiquest”) (see news release dated March 16, 2018). The Company anticipates that the transaction will be closed within a few days.

The Company continues to realize on the Board’s commitment to grow globally through strategic acquisition.  To date, the Company announced entering into Letters of Intent to acquire or strategically invest in Crossbeta Biosciences B.V., Preclinics GmbH, and Single Cell Technology Inc. which are still currently in discussion and due diligence.

About ImmunoPrecise Antibodies Ltd.

Immunoprecise is a full-service, therapeutic antibody discovery company focused on the next generation of antibody discovery, to deliver the most therapeutically-relevant antibodies, in a shorter period of time, with the highest probability of succeeding to clinical trials.

The Company operates from state of the art laboratory facilities located at the Vancouver Island Technology Park in Victoria, British Columbia which house its tissue culture and molecular facilities as well as an animal care unit, and is a member of the Canadian Council for Animal Care and in association with U-Protein Express B.V. its subsidiary laboratory operation in Life Science Incubator, Utrecht Science Park, Utrecht, the Netherlands.

The services offered to customers include the development of wild-type and humanized mouse and rat monoclonal antibodies and recombinant rabbit monoclonal antibodies against a wide spectrum of antigens, as well as polyclonal antibodies, immunologically-based assays, recombinant protein manufacturing, and advanced solutions to challenges faced by clients in antibody-related research and development.  In addition, cryopreservation services are provided for the storage of valuable biological materials including hybridoma clones, plasmid constructs, and cell lines. The antibodies produced by the Company target a wide variety of therapeutic, diagnostic and research applications.

Forward Looking Information

This news release contains statements that, to the extent they are not recitations of historical fact, may constitute “forward-looking statements” within the meaning of applicable Canadian securities laws. The Company uses words such as “may”, “would”, “could”, “will”, “likely”, “expect”, “believe”, “intend” and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments. However, whether actual results and developments will conform to the Company’s expectations and predictions is subject to any number of risks, assumptions and uncertainties.  Many factors could cause the Company’s actual results to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors include, among other things, the Company closing its acquisitions, and such risks and uncertainties described in the Company’s management discussion and analysis for the period ended January 31, 2018 which can be accessed at www.sedar.com. The “forward-looking statements” contained herein speak only as of the date of this press release and, unless required by applicable law, the Company undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.

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.

SOURCE ImmunoPrecise Antibodies Ltd.

 

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Brisio Innovations Announces Private Placement

Brisio Innovations Announces Private Placement

Vancouver, British Columbia–(Newsfile Corp. – March 27, 2018) – Brisio Innovations Inc. (CSE: BZI), (the “Company“) announces that it intends to complete a non-brokered private placement financing (the “Financing“) of a minimum of 18,571,428 shares (each, a “Share“) at a price of $0.35 per Share for gross proceeds of a minimum of $6,500,000 (the “Financing“).

The Company may pay finders a fee in cash and/or share purchase warrants in connection with the Financing.

The proceeds of the Financing will be used for the Company’s acquisition of NameSilo LLC and working capital purposes.

On behalf of the Board

Paul Andreola
President, CEO and Director
Phone: (604) 644-0072
paul@brisio.com
www.brisio.com

Disclaimer for Forward-Looking Information

Certain statements in this press release related to the proposed Financing are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the Company’s ability to complete the Financing and the use of proceeds thereof. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The CSE has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this release.

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Lite Access Awarded Rural Fibre Optic Deployment Contract from Gigaclear for West Oxfordshire, United Kingdom

Lite Access Awarded Rural Fibre Optic Deployment Contract from Gigaclear for West Oxfordshire, United Kingdom

VANCOUVER, March 23, 2018 /PRNewswire/ — LITE ACCESS TECHNOLOGIES INC. (the “Company”) (TSX VENTURE: LTE) (OTC PINK: LTCCF) is pleased to announce that Gigaclear plc (“Gigaclear”) has awarded the Company a rural fibre optic deployment contract to bring ultrafast, full fibre broadband to up to 10,000 homes in West Oxfordshire, United Kingdom. The total expected value of this award is upwards of $29,000,000 with completion of the works anticipated by the end of 2019.

 

Carlo Shimoon, CEO of Lite Access, stated, “This is a watershed moment for our Company and validates the premium quality of our work and ramp up in the UK over the past year. Our cutting-edge fibre deployment technologies are ideally suited for this rural environment and we expect to expand our strategic relationship with Gigaclear in support of their growing rural fibre coverage. We could not be more excited about this first, of what we expect will be many, opportunities. We are pleased with the direction the Company is heading, our growth potential, and ensuring that we remain a world leader in this industry to unlock the full fibre future in the UK and elsewhere.”

About Gigaclear

Gigaclear is dedicated to building and operating ultrafast, pure Fibre-to-the-Premises broadband networks in rural Britain. It offers Gigabit services to over 60,000 homes and businesses to date across Berkshire, Buckinghamshire, Cambridgeshire, Essex, Hertfordshire, Gloucestershire, Kent, Leicestershire, Lincolnshire, Northamptonshire, Oxfordshire, Rutland and Worcestershire. Gigaclear builds networks using commercial investment but it has also been awarded contracts in 2017 as part of the Government subsidised BDUK rural broadband programme in Devon, Essex, Gloucestershire, Herefordshire, Northamptonshire, Somerset and Wiltshire. For more information, refer to Gigaclear’s website: https://www.gigaclear.com/

About Lite Access

Lite Access Technologies Inc. is a world leader in the use of innovative and proven micro/narrow trenching technologies, alternate methods of deployment and specialist products which transform the cost the network deployment for telecommunications operators. Lite Access has successfully deployed or enabled deployment of thousands of kilometres of broadband networks throughout North America and the United Kingdom as well as South America, Africa, Australia and Asia.

As part of its suite of services Lite Access provides clients with integrated solutions or select components for the design and implementation of fibre optic networks.  Lite Access’ products have been deployed in many high-profile communication networks including Olympic facilities, military and government, numerous communities throughout the United Kingdom, the USA and Canada as well as global telecommunications companies that have adopted Lite Access as the “solution of choice” for the least invasive, most cost effective and future-proof fibre optic connectivity available.

Lite Access’ installation technology and proprietary products extend a network provider’s ability to deliver true broadband connectivity directly to end-users, such as homes, businesses, government and educational institutions, and emergency response facilities. Lite Access remains flexible and innovative in its commitment to provide global clients and partners with the most cost effective and proven fibre connectivity solutions available.

Forward Looking Information

This news release contains statements that, to the extent they are not recitations of historical fact, may constitute “forward-looking statements” within the meaning of applicable Canadian securities laws. Lite Access uses words such as “may”, “would”, “could”, “will”, “likely”, “expect”, “believe”, “intend” and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by Lite Access in light of its experience and its perception of historical trends, current conditions and expected future developments. However, whether actual results and developments will conform to Lite Access’ expectations and predictions is subject to any number of risks, assumptions and uncertainties.  Many factors could cause Lite Access’ actual results to differ materially from those expressed or implied by the forward-looking statements contained in this news release. Such factors include, among other things: the projected value of the contract award from Gigaclear, and risks and uncertainties described in Lite Access’s most recent Management Discussion & Analysis (MD&A) for the period ended December 31, 2017 which can be accessed at www.sedar.com. The “forward-looking statements” contained herein speak only as of the date of this press release and, unless required by applicable law, Lite Access undertakes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.

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.

Lite Access Technologies Inc.: Carlo Shimoon, CEO, Phone: 1-604-247-4704, Unit 5 – 20678 Duncan Way, Langley, BC V3A 7A3, www.liteaccess.com; For investor relations please contact: Rob Gamley, Phone: 1-604-689-7422, Email: rob@contactfinancial.com, Contact Financial Corp., 810 – 609 Granville St., Vancouver, BC V7Y 1G5

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Brisio Innovations to Acquire NameSilo, LLC, Plans to List as a Separate Public Company

Brisio Innovations to Acquire NameSilo, LLC, Plans to List as a Separate Public Company

Vancouver, British Columbia–(Newsfile Corp. – March 7, 2018) – Brisio Innovations Inc. (CSE: BZI) (OTC Pink: NTCEF) (the “Company“) is pleased to announce that it has signed a definitive share purchase agreement (the “Definitive Agreement”) with NameSilo, LLC (“NameSilo”) whereby the Company has agreed to acquire all of the issued and outstanding securities of NameSilo (the “Transaction”).

With a priority of no interruption to existing customers or NameSilo’s growth trajectory, the Transaction will not impact the existing operations of NameSilo and the founders, who are also the owner/operators of NameSilo and who will continue in their current roles and continue operating the business. Further, there are no planned changes to the system infrastructure or operational policies of the business.

NameSilo is a low-cost provider of domain name registration and management services, and is an ICANN-accredited registrar. NameSilo is a high growth registrar with nearly 1.5 million domains under management, and over 85,000 customers from approximately 160 countries. According to RegistrarOwl.com, which provides domain registrar industry statistics from ICANN, NameSilo is the 6th-fastest growing registrar in the world based on percentage growth of new registrations, and 6th-fastest growing registrar in the world when based on net new registrations, behind household names such as Google, GoDaddy and Alibaba.

“We are excited to enter this new phase of the NameSilo journey,” said Michael Goldfarb, founder and Managing Member of NameSilo. “We couldn’t be happier to find a partner with a track record of success like Brisio, and we look forward to working with them to build upon the success of NameSilo. Our customers and partners will continue to receive the same excellent service they are accustomed to and they will enjoy the benefits of access to additional resources that will be made available.”

NameSilo recorded approximately US$11.1 million in annual recurring billings in 2017 up from US$6.9 million in 2016. It has grown its domain names under management from approximately 745,000 domains at the beginning of 2017 to over 1.35 million today, a growth rate of over 65% versus industry averages of approximately 7%. Additionally, NameSilo maintains a customer retention rate of approximately 87%.

Under the terms of the Definitive Agreement, the Company will acquire all of the securities of NameSilo and, in consideration of which, the Company will pay a total of US$9,511,500 (the “Purchase Price”) to the members of NameSilo (the “NameSilo Members”). The closing of the Transaction is anticipated to be July 2, 2018.

Further, NameSilo Members will be entitled to certain earnout payments provided that the business achieves a specified EBITDA. All earnout payments will be made no later than August 15, 2018 and will be payable in cash and shares.

After completion of the Transaction, the Company intends to spin-out NameSilo as a separately listed entity on a Canadian stock exchange. The board of directors of the Company will provide further details on the proposed spin-out on closing of the Transaction.

CEO Paul Andreola states, “We are extremely pleased to have found a world class company that meets our criteria of high growth, profitability, high customer retention and customer satisfaction. We look forward to working with the NameSilo team to continue to build the brand and provide their customers outstanding value and service and to meet their ongoing needs.”

The Transaction is subject to customary conditions contained in the Definitive Agreement as well as approval of the stock exchange, and the Company completing sufficient financing to satisfy the Purchase Price. If the Company is unable to close the transaction, the Company will be required to pay a break fee to NameSilo.

 

 

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