UPDATE – Index Exchange Announces Three Management Hires Across Global Markets

NEW YORK, NY—(Marketwired – November 14, 2016) – Index Exchange announced today that it has expanded its management team across global markets. The appointments include Luke Fenney in London as VP, Publisher Development; Melissa Gallo in New York as Senior Director, Client Services; and Ward Flock as Managing Director of Index's West Coast region. The new management hires follow the addition of over 100 employees in the past year and the expansion of all six offices across the U.S., U.K. and Canada.

“As Index continues to grow at a rapid pace, we're expanding our management team to ensure that we can continue to support our clients and partners in the best and most efficient way possible,” said Andrew Casale, President and CEO of Index Exchange. “Luke, Melissa and Ward bring significant and varied experience to the table, and we know they'll be integral to our mission of improving the marketplace and bettering the ecosystem for media companies, marketers and end–users alike.”

Fenney joins Index from Rubicon Project where he most recently served as Global VP of Customer Experience. During his seven–year tenure at Rubicon, Fenney oversaw several different parts of the business including Seller Cloud, Yield Management and Programmatic Demand. In his new role, he'll be tasked with developing and growing publisher relationships across EMEA, aligning with buy–side counterparts, and steering Index's growing presence in the market.

“I was drawn to Index's excellent product offering, transparent business model, and the company's deep alignment with publishers,” said Fenney. “I'm excited about growing the company's presence in the European market and to join them at this stage of their international expansion.”

Gallo joins Index from the IAB where she most recently served as Senior Director, Product and oversaw programmatic and data initiatives for the IAB Tech Lab. There, she was responsible for continued development of the OpenRTB protocol, the launch of the Modernizing Measurement Task Force and member engagement. At Index, Gallo will be responsible for managing the client services team to drive seamless executions, improve revenues and master efficiencies for Index's partners.

Gallo said, “I jumped at the opportunity to join Index Exchange because I not only believe in their product but also in their core values of transparency and fairness. My goal is to continue to put our clients first by taking service to the next level.”

Flock has over 20 years of ad tech and digital media experience and most recently served as Senior Director, Publisher Platforms at AppNexus. As Managing Director of Index's West Coast operations, Ward will build and grow existing relationships with publishers and enterprise sellers along with buyers in the market while overseeing the growth of Index's footprint within the region.

Said Flock, “Header bidding has rolled–into the programmatic channel with great force, and Index Exchange is leading the trend. I can't think of a better time to join the winning team at Index — a team that is solely focused on publishers without any conflict of interest.”

Fenney and Flock will report into SVP of Partner Development, Alex Gardner. Gallo will report into VP of Partner Success, Steve Sullivan.

About Index Exchange

Index Exchange is the principled ad exchange and a true technology organization with over two–thirds of our staff residing in engineering. Built on the pillars of neutrality, openness, and the most reliable technology, we aspire to be the exchange that media companies can trust. With no other business interests to divide our attention, our sole focus remains connecting media companies with premium demand at massive scale. This allows us to partner with the biggest names in ad tech to develop great technology together with media companies in mind. For more information, follow us @IndexExchange.

Gran Colombia Gold Announces Third Quarter and First Nine Months 2016 Results; Expecting Over 144,000 Ounces of Annual Gold Production for 2016 at an AISC Below $850 per Ounce

TORONTO, ON—(Marketwired – November 14, 2016) – Gran Colombia Gold Corp. (TSX: GCM) announced today the release of its unaudited condensed consolidated financial statements and accompanying management's discussion and analysis (MD&A) for the three and nine months ended September 30, 2016. All financial figures contained herein are expressed in U.S. dollars unless otherwise noted.

Third Quarter and First Nine Months 2016 Highlights

  • Gran Colombia's adjusted EBITDA increased to $19.7 million in the third quarter of 2016 bringing the total adjusted EBITDA for the first nine months of 2016 to $49.6 million, a 74% increase over the same period last year. See the Company's MD&A for the computation of this non–IFRS measure. The increased adjusted EBITDA in the third quarter of 2016 led to improved operating cash flow which in turn enabled the Company to continue to take further steps to reduce overdue local financial obligations for amounts owing to suppliers, equity and wealth taxes. The Company also received $4.0 million of overdue VAT refunds in October 2016 that will applied to reduce liabilities within its working capital deficit in the fourth quarter of 2016.
  • Gold production in the third quarter of 2016 totalled 39,111 ounces, up 14% from the third quarter of 2015, bringing the total for the first nine months of 2016 to 108,829 ounces, a 25% improvement over the first nine months last year led by strong performance at its Segovia Operations. With another 13,088 ounces produced in October, the Company is increasing its annual production guidance for 2016 to a total of 144,000 to 150,000 ounces of gold.
  • A total of $17.2 million aggregate principal amount of 2018 Debentures (TSX: GCM.DB.U) were converted by holders in the third quarter of 2016 into 132.1 million common shares. In addition, Gran Colombia repurchased and cancelled $0.8 million aggregate principal amount of 2018 Debentures and $0.8 million aggregate principal amount of 2020 Debentures (TSX: GCM.DB.V) under the Normal Course Issuer Bids (“NCIBs”) launched on July 21, 2016. To date, debt conversions and repurchases under the NCIBs have reduced the aggregate principal amount of Gran Colombia's senior debt by approximately 18%. The Company currently has 277,727,323 common shares issued and outstanding. Aggregate principal amounts of the 2018 and 2020 Debentures issued and outstanding are $49.7 million and $102.5 million, respectively. The NCIBs are being funded by excess cash flow being deposited into sinking funds for the Senior Debentures. There is currently a balance of $1.1 million in the sinking funds.
  • Revenue of $51.2 million in the third quarter of 2016, up 30% over the third quarter last year, reflects the stronger spot gold prices in the third quarter of 2016 and the increased gold production this year that contributed to a 10% increase in gold ounces sold. This brings total revenue for the first nine months of 2016 to $133.7 million, up 32% over the first nine months last year.
  • Gran Colombia's total cash costs and all–in sustaining costs (“AISC”) increased to $728 per ounce and $884 per ounce, respectively, in the third quarter of 2016. The third quarter 2016 total cash costs reflected the impact on cash costs of the civil strike at Segovia in September, additional charges related to previous reductions in Segovia's workforce and the adverse impact of lower production at Marmato on its cash cost on a per ounce basis in the current quarter. The third quarter 2016 AISC included an expected increase in capital expenditures associated with the exploration, development and mechanization programs at the Segovia Operations. With total cash costs and AISC averaging $699 per ounce and $832 per ounce, respectively, for the first nine months of 2016, the Company has narrowed its guidance for the 2016 annual averages for total cash costs to a range from $700 to $720 per ounce and for AISC to a range from $825 to $850 per ounce. See the Company's MD&A for the computation of these non–IFRS measures.
  • The net income attributable to shareholders was $8.1 million, or $0.03 per share, for the third quarter of 2016 compared with $6.7 million, or $0.28 per share, in the third quarter of 2015. For the first nine months of 2016, net income attributable to shareholders amounted to $19.0 million, or $0.12 per share, compared with $6.4 million, or $0.27 per share, in the first nine months last year.
  • Adjusted net income attributable to shareholders was $8.1 million, or $0.03 per share, in the third quarter of 2016 compared with $2.0 million, or $0.08 per share, in the third quarter of last year. For the first nine months of 2016, adjusted net income attributable to shareholders was $12.2 million, or $0.08 per share, compared with $1.8 million, or $0.08 per share, in the first nine months last year. See the Company's MD&A for the computation of this non–IFRS measure. The increase in adjusted EBITDA, net of an increase in income taxes, in 2016 was the primary driver behind the improved adjusted net income results this year.

Lombardo Paredes Arenas, Chief Executive Officer of Gran Colombia, commenting on the Company's results for the first nine months of 2016, said, “With another quarter of solid operating results, we have been able to firm up our guidance for the full year. We now expect to produce over 144,000 ounces of gold in 2016, a 23% increase over last year. We also expect that our annual AISC for 2016 will be below $850 per ounce compared with $863 per ounce in 2015. The increased level of operating cash flow we are generating is continuing to be dedicated toward improving our balance sheet through reductions in our working capital deficit and to buy back our senior debt through the NCIBs.”

Financial and Operating Summary

A summary of the financial and operating results for the third quarter and first nine months of 2016 and 2015 follows:

         
    Third Quarter   Nine Months
    2016   2015   2016   2015
                         
Operating data:                        
  Gold produced (ounces)     39,111     34,339     108,829     86,807
  Gold sold (ounces)     39,017     35,501     107,605     87,356
  Average realized gold price ($/oz sold)   $ 1,296   $ 1,090   $ 1,225   $ 1,142
  Total cash costs ($/oz sold) (1)     728     644     699     737
  All–in sustaining costs ($/oz sold) (1)     884     789     832     867
                   
Financial data ($000's, except per share amounts):                  
  Revenue   $ 51,224   $ 39,267   $ 133,708   $ 101,198
  Adjusted EBITDA (1)     19,712     13,260     49,597     28,439
  Net income attributable to shareholders     8,072     6,679     18,963     6,405
  Basic and diluted income per share     0.03     0.28     0.12     0.27
  Adjusted net income attributable to shareholders (1)     8,103     1,993     12,211     1,840
  Basic and diluted adjusted income per share (1)     0.03     0.08     0.08     0.08
                         
                  September 30,     December 31,
                  2016     2015
                         
Balance sheet ($000's):                        
  Cash and cash equivalents               $ 3,106   $ 3,004
  Cash in trust for Senior Debentures (2)                 1,117    
  Senior debt (3)                 80,220     100,740
  Other debt, including current portion                 2,115     3,012
                         
  1. Refer to “Additional Financial Measures” in the Company's MD&A.
  2. Represents amounts deposited into sinking funds for the 2018 and 2020 Debentures, net of cash used for the NCIBs.
  3. Represents carrying amounts, which are at a discount to principal amounts, for the 2018 and 2020 Debentures at September 30, 2016 and for the Gold and Silver Notes at December 31, 2015. Refer to Company's Interim Financial Statements for additional details regarding the 2018 and 2020 Debentures.

Segovia Operations

Third quarter 2016 gold production at the Segovia Operations totalled 33,552 ounces, up 20% from the third quarter a year ago, despite some disruption to the Company's operations in the latter part of September due to a civil strike as previously announced. The Company processed an average of 790 tonnes per day ('tpd”) with head grades averaging 14.51 g/t at Segovia in the third quarter of 2016, an improvement from 599 tpd at an average head grade of 16.14 g/t in the third quarter a year ago. For the first nine months of 2016, gold production at the Segovia Operations totalled 91,435 ounces, up 32% from the first nine months last year. As of the end of September 2016, the trailing 12 months' gold production from the Segovia Operations totalled 115,303 ounces. With another 11,173 ounces produced in October, the Company now expects its gold production at Segovia to total from 120,000 to 126,000 ounces for the full year 2016, up from a total of 92,894 ounces produced in 2015.

Segovia's total cash costs, which increased to $672 per ounce in the third quarter of 2016, were adversely impacted by the processing of higher cost contract miner material and lower grade stockpiles during the labour disruption in late September 2016 and an increase in its provision for costs to settle labour claims associated with its previous workforce reductions. For the first nine months of 2016, Segovia's total cash costs averaged $652 per ounce, down 7% from the first nine months last year.

Marmato Operations

At the Marmato Operations, tonnes processed averaged 966 tpd in the third quarter of 2016, up 11% compared with the third quarter last year. This helped to partially mitigate the impact of lower head grades, which averaged 2.40 g/t in the third quarter this year, and lower mill recovery on gold production which amounted to 5,559 ounces in the third quarter of 2016, down 13% from the third quarter a year ago. For the first nine months of 2016, gold production at the Marmato Operations totalled 17,394 ounces, down 2% from the first nine months last year. As of the end of September 2016, the trailing 12 months' gold production from the Marmato Operations totalled 23,576 ounces. With another 1,915 ounces produced in October, the Company expects to produce close to 24,000 ounces at its Marmato Operations for the full year 2016.

The adverse impact of lower gold production on cash costs on a per ounce basis and an increase in production taxes as a result of the increase in spot gold prices were the primary contributors to the increase in Marmato's total cash costs per ounce in the third quarter of 2016 to $1,094 per ounce. For the first nine months of 2016, Marmato's total cash costs averaged $963 per ounce, up 11% from the first nine months last year.

Outlook

With a total of 121,917 ounces of gold produced through the first ten months of 2016 and an expectation that the trend in monthly production from the Segovia Operations will continue for the balance of the year, the Company is increasing its annual gold production guidance for 2016 to a range of 144,000 to 150,000 ounces.

Total cash costs averaged $699 per ounce in the first nine months of 2016 and is expected to average between $700 and $720 per ounce for the full year. The Company reported its AISC for the first nine months of 2016 of $832 per ounce, including sustaining capital expenditures of $89 per ounce and G&A expenses of $42 per ounce. The Company anticipates that its average AISC for the full year will be between $825 and $850 per ounce, below the initial guidance range of $850 to $950 per ounce for 2016 as certain capital expenditures associated with the expansion and mechanization of the Segovia Operations are continuing to be evaluated and will be taken forward into the 2017 mine plan update.

The strategic review process announced on September 16, 2016, led by GMP Securities L.P., is ongoing. At this time, there can be no assurance as to what, if any, strategic alternatives might be pursued by the Company. The Company does not intend to disclose further details with respect to its review of strategic alternatives unless and until the Board of Directors has approved a specific transaction or otherwise determines that further disclosure is warranted.

Webcast

As a reminder, the Company will host a conference call and webcast on Tuesday, November 15, 2016 at 9:00 a.m. Eastern Time to discuss the results.

Webcast and call–in details are as follows:

Live Event link: http://edge.media–server.com/m/p/d9fhybnu
Toronto & International: 1 (514) 841–2157
North America Toll Free: 1 (866) 215–5508
Colombia Toll Free: 01 800 9 156 924
Conference ID: 43623958

A replay of the webcast will be available at www.grancolombiagold.com from Tuesday, November 15, 2016 until Thursday, December 15, 2016.

About Gran Colombia Gold Corp.

Gran Colombia is a Canadian–based gold and silver exploration, development and production company with its primary focus in Colombia. Gran Colombia is currently the largest underground gold and silver producer in Colombia with several underground mines in operation at its Segovia and Marmato Operations. Gran Colombia is in the midst of an expansion and modernization project at its Segovia Operations.

Additional information on Gran Colombia can be found on its website at www.grancolombiagold.com and by reviewing its profile on SEDAR at www.sedar.com.

Cautionary Statement on Forward–Looking Information:

This news release contains “forward–looking information”, which may include, but is not limited to, statements with respect to anticipated business plans or strategies. Often, but not always, forward–looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward–looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gran Colombia to be materially different from any future results, performance or achievements expressed or implied by the forward–looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward–looking statements are described under the caption “Risk Factors” in the Company's Annual Information Form dated as of March 30, 2016, which is available for view on SEDAR at www.sedar.com. Forward–looking statements contained herein are made as of the date of this press release and Gran Colombia disclaims, other than as required by law, any obligation to update any forward–looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward–looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward–looking statements.

Talon Metals Reports Third Quarter 2016 Results

ROAD TOWN, BRITISH VIRGIN ISLANDS—(Marketwired – November 14, 2016) – Talon Metals Corp., (“Talon” or the “Company”) (TSX: TLO) reported net income for the three months ended September 30, 2016 of $0.1 million or nil per share (basic and diluted), which was primarily the result of a gain on the fair value revaluation of the Resource Capital Fund VI L.P. unsecured convertible loan, offset by administration expenses. This compares to net income of $1.3 million or $0.01 per share (basic and diluted) for the same period in the prior year, which was primarily the result of a gain on the sale of a net smelter returns royalty that the Company held over the São Jorge Gold Project, offset by administration expenses.

The Company's net loss for the nine months ended September 30, 2016 was $0.2 million or nil per share (basic and diluted). This compares to a net loss of $0.7 million or $0.01 per share (basic and diluted) for the same period in the prior year.

Capitalized exploration costs and deferred expenditures on the Tamarack Nickel–Copper–PGE Project for the nine months ended September 30, 2016 amounted to $21.7 million. This compares to $13.9 million for the same period in the prior year. The total capitalized exploration cost on the Tamarack Nickel–Copper–PGE Project to September 30, 2016 amounts to $37.0 million.

Condensed Consolidated Interim Financial Statements for the three and nine months ended September 30, 2016 and 2015, together with Management's Discussion and Analysis, have been filed on SEDAR and are available at www.sedar.com.

About Talon

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.

For additional information on Talon, please visit the Company's website at www.talonmetals.com or contact:

Marquee Energy Ltd. Announces Successful Appeal of Order of Court Decision and Provides Update Regarding Transaction With Alberta Oilsands

CALGARY, AB—(Marketwired – November 14, 2016) –

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Marquee Energy Ltd. (“Marquee” or the “Company“) (TSX VENTURE: MQL) provides the following update regarding the proposed acquisition of Marquee by Alberta Oilsands Inc. (“AOS“) (TSX VENTURE: AOS) through a plan of arrangement involving Marquee, its shareholders and AOS (the “Arrangement“), and the related appeal (the “Appeal“) by Marquee of the order (the “Order“) of the Court of Queen's Bench of Alberta (the “Court“) as previously disclosed in Marquee's news releases of September 20, 2016 and October 11, 2016.

On November 9, 2016, the Court of Appeal of Alberta heard the Appeal by Marquee and today it advised counsel that the Appeal will be allowed with reasons to follow. As a result of this decision, AOS will not be required to hold a shareholders meeting to obtain approval of the Arrangement.

Earlier today Marquee shareholders approved the Arrangement at a special meeting of Marquee shareholders. Marquee intends to seek a final order from the Court in respect of the Arrangement as soon as reasonably practical and closing of the Arrangement is expected to occur shortly thereafter, subject to the approval of the TSX Venture Exchange and the satisfaction or waiver of certain additional customary closing conditions contained in the arrangement agreement between Marquee and AOS dated August 19, 2016.

ABOUT MARQUEE

Marquee Energy Ltd. is a Calgary based, junior energy company focused on high rate of return light oil development and production. Marquee is committed to growing the company through exploitation of existing opportunities and continued consolidation within its core area at Michichi. The Company's shares are traded on the TSX Venture Exchange under the trading symbol “MQL” and on the OTC marketplace under the symbol “MQLXF”. A corporate presentation and additional information about Marquee may be found on its website www.marquee–energy.com and in its continuous disclosure documents filed with Canadian securities regulators on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.

ADDITIONAL ADVISORIES

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.

FORWARD–LOOKING STATEMENTS OR INFORMATION

Certain statements included or incorporated by reference in this news release may constitute forward–looking statements under applicable securities legislation. Such forward–looking statements or information typically contain statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, or similar words suggesting future outcomes or statements regarding an outlook. Specific forward—looking statements or information in this news release include statements with respect to the receipt of regulatory approvals, the anticipated timing of seeking and receiving a final order from the Court in respect of the Arrangement involving Marquee, its shareholders and AOS, and the anticipated timing of closing the Arrangement.

Forward looking statements involves significant known and unknown risks and uncertainties, some of which are beyond the control of the Company, which could cause actual results to differ materially from those anticipated. For a description of these risks and uncertainties and assumptions upon which they are based, please refer to “Cautionary Notice Regarding Forward–Looking Statements and Information” in the management information circular dated August 23, 2016. The circular is available on the Company's profile on SEDAR at www.sedar.com.

Although the Company believes that the expectations in such forward–looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward–looking statements. As such, readers are cautioned not to place undue reliance on the forward–looking statements, as no assurance can be provided as to future results, levels of activity or achievements. The forward–looking statements and information contained in this news release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward–looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward–looking information contained in this news release is expressly qualified by this cautionary statement.

ViaDerma, Inc. Enters the (MMJ) or Medical Marijuana industry with a Patent Pending CBD Delivery System as California Votes for Expanded Uses of Cannabis

LOS ANGELES, CA—(Marketwired – November 14, 2016) – ViaDerma, Inc. (OTC PINK: VDRM), a specialty pharmaceutical company devoted to bringing new products to market, announced today the Patent Pending use of its innovative transdermal system for the delivery of (CBD's) Calanoids and (THC) Tetrahydrocannabinol for the treatment of several diseases. The transdermal system can deliver through topical skin absorption to localized areas and directly into the blood stream. The Patent application using the combination of CBD's and THC with the delivery system was filed in 2014. The Patent Pending transdermal system can deliver medications and nutrients into the body through the skin. For example, a person with a migraine headache can place the CBD and THC combined with the delivery compound and apply to the neck with immediate absorption into the bloodstream through the corroded artery. ViaDerma, Inc. is also in the clinical testing stages of an anti–aging topical solution, topical pain medication, a topical for male–pattern baldness, and a topical designed to boost male libido.

On November 8th, medical and recreational marijuana was passed in several states that voted on medical marijuana provisions, in what is turning out to be, the biggest electoral victory for marijuana reform since 2012. The use of CBD's is known for the reduction of inflammation and for the treatment of several diseases, such as, nicotine addiction, fibromyalgia, Cohn's disease, schizophrenia, migraine headaches, pain management for cancer and Multiple Sclerosis.

ViaDerma also has Viabecline, a topical liquid tetracycline–based antibiotic that uses a patent–pending innovative transdermal delivery system that can convert oral medication active ingredients into topical drugs. The drug is FDA–registered as a first aid antibiotic to help prevent skin infection in minor cuts, scrapes, and burns, but importantly, has also shown to be effective in fighting more harmful forms of staphylococcus aureus infections, which are commonly known as 'staph infections.' Without the introduction of novel antibiotic treatments, infections can spread and sometimes become life threatening.

Market for the following Drugs:

Topical antibiotics– $6 billion/year
Toenail antifungal drugs– $3 billion/year
Diabetic amputations– $3 billion/year
Global acne– $2.8 million in 2009, estimates of $3.02 billion by 2016
Psoriasis– $2.4 billion in 2010, estimates of over $7.3 billion by 2015
Eczema– $2.5 billion in 2014

ViaDerma sees the use of CBD's along with our Proprietary transdermal delivery system for the treatment and continuing studies look very promising and demonstrate efficacy in terms of treating several unrelated diseases. “We are enthusiastic about the results we have achieved to date in terms of the anecdotal feedback we have received from the medical community,” said Dr. Christopher Otiko, ViaDerma's founder and CEO.

About ViaDerma, Inc.
ViaDerma, Inc. (OTC PINK: VDRM) is a publicly traded specialty pharmaceutical company committed to bringing new products to market and licensing its innovative technology to current leaders in the pharmaceutical industry in a wide variety of therapeutic areas. ViaDerma's lead product, TetraStem™, uses an innovative transdermal delivery method that allows for application of active ingredients in a topical form. This patent–pending dual carrier transdermal technology may be applied in products within the medical and cosmetic markets. For more information, please visit: www.viadermalicensing.com.

Forward–Looking Statements
Forward–Looking Statements certain statements in this release that are not historical facts are “forward–looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified using words such as “anticipate,” “believe,” “expect,” “future,” “may,” “will,” “would,” “should,” “plan,” “projected,” “intend,” and similar expressions. Such forward–looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward–looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors. We assume no obligation to update the information contained in this news release.

DirectCash Payments Inc. Announces Results of Operations for the Three and Nine Months Ended September 30, 2016

CALGARY, AB—(Marketwired – November 14, 2016) – DirectCash Payments Inc. (“DCPayments” or the “Company”) (TSX: DCI) today announced consolidated financial results for the three and nine months ended September 30, 2016.

Highlights for the Nine Months ended September 30, 2016:

  • Successfully acquired the Australian retail ATM and managed services ATM business from First Data Resources Australia Limited and CashCard Australia Limited, comprising approximately 3,500 ATMs for cash consideration of A$55 million
  • Entered into a bridge loan facility agreement for a $70 million non–revolving bridge loan facility
  • Entered into a second vault cash rental agreement in Australia with a A$180 million limit maturing in 18 months to fund the vault cash usage of the ATM business acquired in Australia
  • Subsequent to the quarter, announced a definitive agreement under which Cardtronics plc would acquire DCPayments for a purchase price of $19.00 per share, expected to close in the first quarter of 2017

Management's Commentary

“We are pleased with our Australian acquisition of First Data's retail ATM network and managed service business, adding approximately 3,500 additional ATMs, as well as our ability to create value for shareholders with our proposed acquisition by Cardtronics,” said Jeffrey Smith, DCPayments' President and Chief Executive Officer.

Summary financial and operating results for the three and nine months ended September 30, 2016 are set forth below and complete copies of the Company's consolidated Financial Statements and Management's Discussion & Analysis (“MD&A”) are available on SEDAR at (www.sedar.com).

Summary Operating and Financial Results

             
     Three months ended     Nine months ended   
    September 30     September 30  
    2016     2015     2016     2015  
Summary operating results                                
Active ATM terminals(1)     21,617       21,824       21,617       21,824  
ATM transactions, thousands     33,616       35,195       98,130       98,626  
Other services transactions, thousands(2)     87,776       89,842       260,700       257,453  
                                 
    Three months ended     Nine months ended  
    September 30     September 30  
    2016     2015     2016     2015  
Summary financial results                                
($ thousands, except for per share amounts)                                
Gross profit   $ 33,433     $ 35,586     $ 98,928     $ 102,178  
Gross profit margin(3)     45.8 %     47.1 %     46.9 %     48.3 %
Adjusted EBITDA(4)     15,685       18,626       47,784       52,293  
  Adjusted EBITDA margin(5)     21.5 %     24.7 %     22.6 %     24.7 %
Realized loss (gain) on foreign exchange     1,478       (1,155 )     1,168       (1,754 )
Normalized EBITDA(6)     17,163       17,471       48,952       50,539  
Net loss     (3,992 )     (3,601 )     (5,474 )     (6,034 )
  Per share, basic and diluted     (0.23 )     (0.21 )     (0.31 )     (0.35 )
Dividends declared     6,312       6,324       18,937       18,988  
  Dividends declared per share     0.36       0.36       1.08       1.08  
Total assets   $ 408,904     $ 364,369     $ 408,904     $ 364,369  
Total debt(7)     297,977       214,223       297,977       214,223  
Cash     (26,042 )     (17,752 )     (26,042 )     (17,752 )
Net debt(8)   $ 271,935     $ 196,471     $ 271,935     $ 196,471  
Common shares outstanding, end of period     17,534       17,556       17,534       17,556  
                                 

1DCPayments has included statistics only for sites that recorded a transaction in the last calendar month of the period indicated and excluded approximately 3,500 ATMs acquired from First Data on September 30, 2016.
2DCPayments has included the Financial Institution customers' transactions, point of sale transactions, debit and credit cards transactions.
3Gross profit margin means gross profit expressed as a percentage of Revenue.
4An additional GAAP measure – see definition under “Additional GAAP Measure”.
5A non–GAAP measure – see definition under “Non–GAAP Measures”.
6Normalized EBITDA is calculated as Adjusted EBITDA less realized loss (gain) on foreign exchange.
7Total debt is calculated as long–term debt including current portion and other current debt but excluding unamortized transaction costs, as at the end of the period.
8Net debt is calculated as total debt less cash.

The increase in total debt from September 30, 2015 to September 30, 2016 was mainly due to: $70 million bridge loan facility drawn to fund the purchase price payable for the First Data Acquisition, pay fees and expenses incurred in connection with the acquisition and fund necessary ATM upgrades and expenses related to the First Data Acquisition. In addition, the Company needed to fund the $12.5 million CashStore settlement payout ($10.0 million paid in Q4 2015 and $2.5 million paid in April 2016), the Canadian acquisition of $4.0 million in Q4 2015 and the GRG acquisition of A$1.9 million in Q1 2016. The increase in total debt was partially offset by significant repayments made during the periods demonstrating management's efforts in debt reduction and financing cost control. The net debt for September 30, 2016 increased by $75.5 million to $271.9 million from $196.5 million at September 30, 2015 for the reasons described above.

Outlook

Effective September 30, 2016, DCPayments acquired the ATM business and assets of First Data Resources Australia Limited and Cashcard Australia Limited (collectively “First Data”). The assets includes First Data's Australian retail ATM and managed services ATM business, comprising approximately 3,500 ATMs and associated contracts in the Australian market for cash consideration of A$55 million including taxes, subject to customary closing purchase price adjustments.

On October 3, 2016, Cardtronics plc (“Cardtronics”) and the Company announced a definitive agreement under which Cardtronics would acquire DCPayments. The purchase price of $19.00 per share includes the assets of First Data's retail ATM and managed services ATM business in Australia which closed on September 30, 2016. The acquisition by Cardtronics is expected to close in the first quarter of 2017 and subject to shareholder approval at a special meeting of shareholders scheduled for December 2, 2016 as well as certain covenants and conditions contained in the agreement between the parties.

Conference Call

A conference call will be held on Tuesday, November 15, 2016 at 10:00 a.m. Mountain Standard Time (MST) to review third quarter 2016 results. Jeffrey J. Smith, President & CEO, Patrick W. Moriarty, Chief Financial Officer, and Amanda J. Gallacher, Vice President, Corporate Strategy & Acquisitions, will host the call. The financial results, and an accompanying presentation, will be available on the Company's website at www.directcash.net prior to the conference call.

DCPayments invites participants to listen to the webcast of the conference call by entering: http://www.gowebcasting.com/8226 in your web browser.

To participate in the Q&A session, please call the conference operator by dialing toll–free 1–866–225–6564 or locally 1–416–340–2219. A replay of the conference call will be available until Tuesday, November 22, 2016 by dialing toll–free 1–800–408–3053 or locally 1–905–694–9451 and entering passcode 1487930.

Additional GAAP Measure:

DCPayments has presented adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) as a subtotal in its condensed consolidated statement of operations and comprehensive income (loss). Adjusted EBITDA is an important measure utilized by management in assessing the financial performance of the Company relative to its operating plans and budgets. It is also the measurement utilized by the holders of the Company's long–term debt, as described in note 5 to the condensed consolidated interim financial statements, in calculating financial covenants. The Company has presented Adjusted EBITDA prior to unrealized foreign exchange gains and losses and non–recurring other gains (loss). The Company utilizes this presentation of Adjusted EBITDA because it is consistent with the definition of EBITDA under DCPayments' credit facility agreement. DCPayments has also presented Adjusted EBITDA prior to the deduction for acquisition–related expenses. These expenses relate only to business combinations which are complex, require the pre–approval of the Company's lenders and are financed utilizing long–term debt or the issue of equity or a combination thereof. Costs incurred on recurring asset acquisitions are not considered acquisition–related expenses and are included with other expenses in the condensed consolidated statement of operations and comprehensive income (loss). The Company's Adjusted EBITDA may differ from similar computations as reported by other issuers and, accordingly, may not be comparable to Adjusted EBITDA as reported by such issuers. The Company has provided a reconciliation between Adjusted EBITDA and net income (loss) which is disclosed in the MD&A for the three and nine months ended September 30, 2016.

Non–GAAP Measures:

There are a number of financial calculations that are not defined performance measurements under GAAP but which DCPayments believes are useful and accepted performance measurements utilized by the investing public in assessing the overall financial performance of the Company and to compare cash flows between entities.

Adjusted EBITDA margin:

Adjusted EBITDA margin means Adjusted EBITDA expressed as a percentage of Revenue.

Adjusted EBITDA per share:

Adjusted EBITDA per share is calculated on the same basis as net income (loss) per share, utilizing the basic and diluted weighted average number of common shares outstanding during the period presented.

Funds from operations and funds from operations per share:

DCPayments calculates funds from operations as net income (loss) plus or minus depreciation, amortization, deferred income taxes expense (recovery), non–cash finance costs, unrealized foreign exchange gains (losses), non–recurring other gains (loss) and other non–cash charges and after provision for productive capital maintenance expenditures (see discussion below). Funds from operations per share is calculated on the same basis as net income (loss) per share, utilizing the basic and diluted weighted average number of common shares outstanding during the period presented. Readers are cautioned that funds from operations cannot be assured to continue at equivalent levels in the future. DCPayments' funds from operations and funds from operations per share may differ from similar computations as reported by other issuers and, accordingly, may not be comparable to funds from operations and funds from operations per share as reported by such issuers. The reconciliation between funds from operations and net income (loss) is disclosed in the “Funds from Operations” discussion in the MD&A for the three and nine months ended September 30, 2016.

Productive capital maintenance expenditures:

DCPayments differentiates capital expenditures between growth and productive capital maintenance. There is no such distinction under GAAP, however DCPayments believes it is important to differentiate between them. Maintenance capital expenditures, excluding non–recurring maintenance capital, represent an adjustment to funds from operations while growth capital does not.

Maintenance capital expenditures are defined as expenditures required to service and maintain DCPayments' existing productive capacity, while growth capital is expended to increase DCPayments' productive capacity by adding additional sources of revenue not currently in existence. Current measures of productive capacity that DCPayments utilizes include ATMs and debit terminals under contract. Maintenance capital expenditures include software and hardware upgrades to existing infrastructure, ATM and debit terminal equipment upgrades necessary to meet changing regulatory requirements, minor contract extension incentives including replacement of equipment under existing or renewed contracts, and fleet vehicle purchases and upgrades. Examples of growth capital expenditures include the acquisition of a competitor's assets, the cost of an ATM in a new location, or technology costs related to new sources of revenue.

Readers are cautioned that the Company's computation of maintenance capital expenditures may differ from similar computations as reported by other issuers and, accordingly, may not be comparable to productive capital maintenance expenditures as reported by such issuers.

Funds from operations payout ratio:

Funds from operations payout ratio means dividends declared as a percentage of funds from operations.

Non–cash working capital:

Non–cash working capital is not a defined GAAP measure. DCPayments calculates changes in non–cash working capital as changes during a reporting period in current assets (excluding cash, cash in circulation, cash in escrow and restricted funds) and current liabilities (excluding bank overdraft, restricted funds and current portion of long–term debt).

Dividends:

Shareholders of DCPayments receive monthly payments in the form of dividends. Dividends are funded by the generation of funds from operations of the business. All of the income generated at the level of the various subsidiaries of the Company is taxed by applicable government authorities with the remaining after–tax funds either being retained by the subsidiary or distributed up to the Company where it can be made available for payment of dividends by DCPayments. Continued future distribution of dividends (and the amount of any dividends) is subject to DCPayments' Board of Directors approval. DCPayments' Board of Directors is not obligated to distribute all net available cash as dividends to shareholders.

Forward Looking Information:

This press release offers our assessment of DCPayments' future plans and operations and contains “forward–looking information” relating to future events as defined under applicable Canadian securities legislation.

The Company's actual results or performance could differ materially from those expressed in, or implied by, this forward–looking information. DCPayments can give no assurance that any of the events anticipated will transpire or occur or, if any of them do, what benefits or costs we will derive from them. Forward–looking statements are subject to numerous risks and uncertainties, certain of which are beyond DCPayments' ability to control, including but not limited to general economic conditions, interest rates, foreign currency rates, consumer spending, borrowing trends and regulatory changes to name a few. Additional risks and uncertainties are described in DCPayments' Annual Information Form for the year ended December 31, 2015 which is available at www.SEDAR.com.

The forward–looking information contained in this press release is expressly qualified by this cautionary statement. Certain statements that contain words such as “could”, “may”, “believe”, “should”, “expect”, “will”, “intends”, “plan”, “anticipates”, “potential”, “estimates”, “continues” or similar words relating to matters that are not historical facts constitute “forward–looking information” within the meaning of applicable Canadian securities legislation.

Forward–looking information and statements contained in this press release include statements related to DCPayments' anticipated acquisition of the Company by Cardtronics, ability to upgrade ATMs for EMV compliance, anticipated growth in business, operations and product offerings in our various business segments in the Americas, Australasia and Europe, ability to manage its existing business while focusing on adding new products and services, ability to further diversify domestic customer relationships and expand internationally intention and ability to complete quality accretive acquisitions at reasonable multiples on a go forward basis as opportunities arise, ability to provide consistent cash dividends, ability to drive growth, increase our margins and maintain per ATM profitability, expansion of DCPayments' merchant base through new and innovative products and services, the expectation that the Company will realize positive results from launching DCC and implementing surcharge increases in international markets, ability to realize on expected synergies and ability to realize significant economies of scale and cost savings on acquisitions, ability to continue to acquire long–term recurring services contracts and negotiate renewals thereof in advance of their expiry, ability to maintain current customer relationships, ability to add product offerings in the markets we operate in, ability to diversify both domestically and internationally, ability to increase the servicing of customer relationships and increase our sales presence with other clients, the anticipated benefits of acquisitions, the expectation that acquisitions will be accretive to funds from operations per share in the first fiscal year following the transaction, or at all, and the sufficiency of funds generated from operations to fund the business.

Readers are cautioned that our expectations, estimates, projections and assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward–looking statements. With respect to forward–looking statements contained within this Press Release, expectations are based on our current strategic plan and management forecasts, the historical financial performance and operational data of acquired entities, our existing contracts schedule, forecast and budgeted projections of increased capital expenditures required based on management's view of the age of capital assets currently in use by DCPayments.

The assumptions and estimates relating to the forward–looking information referred to above are updated quarterly and except as required by law, we do not undertake to update any other forward–looking information.

Additional information about DCPayments is available on SEDAR (www.sedar.com) or DCPayments' website at www.directcash.net.

Join Pulse Larsen Antennas at Africa Com

VANCOUVER, WA—(Marketwired – November 14, 2016) – Pulse Larsen Antennas will be showcasing its cutting edge antenna products at Africa Com November 15–17 2016 in Cape Town South Africa at The International Convention Centre.

Pulse Larsen Antennas will be exhibiting at Africa Com, the premier Pan–African communications event. Comprising a high–level conference program and separately co–located networking exhibition.

Olivier Robin, General Manager will attend Africa Com to welcome patrons and answer questions. “We are eager to showcase our plans for 2017 to include Utilities Metering and Automotive products,” said General Manager Olivier Robin.

Pulse Larsen Antennas invites you to join us at Booth P–28 at Africa Com located in the Cape Town Convention Centre to learn more about IoT, Transportation, DAS, Public Safety and Critical Communications.

Image Available: http://www.marketwire.com/library/MwGo/2016/11/14/11G122031/Images/bOOTH_P–28–e11ee2c800e2a1869c4696cce672a8c4.JPG

AirBoss Announces 3rd Quarter 2016 Results and Dividend

NEWMARKET, ON—(Marketwired – November 14, 2016) – AirBoss of America Corp. (TSX: BOS)

Q3 2016 Highlights (versus Q3 2015):

(In US dollars)

  • Declares quarterly dividend of C$0.065 per common share
  • Free Cash Flow increased 43.1% to $5.0 million ($0.21 per share)
  • Announces new leadership in Automotive division
  Three months ended   Nine months ended
  September 30   September 30
(In thousands of US dollars) 2016 2015   2016 2015
Net Sales 66,666 77,513   204,588 231,333
Gross profit 11,478 15,131   37,715 41,997
EBITDA(1) 7,269 8,403   25,334 21,304
Adjusted EBITDA(1) 7,550 8,347   26,073 27,267
Net income 3,115 4,036   12,421 9,594
(In US dollars, except shares)          
Net income per share (EPS)          
  –Basic 0.13 0.18   0.54 0.42
  –Diluted 0.13 0.17   0.53 0.41
Adjusted EPS(1)          
  –Basic 0.15 0.17   0.57 0.61
  –Diluted 0.14 0.17   0.55 0.60
Common shares outstanding (millions)          
  –Basic 23.1 23.0   23.1 23.0
  –Diluted 23.5 23.6   23.6 23.5

Dividend

The Board of Directors of the Company has approved a quarterly dividend of CAD $0.065 per common share, to be paid on January 12, 2017 to shareholders of record at December 31, 2016.

Consolidated Results

Consolidated net sales in the quarter were 14.0% lower than in Q3 2015, reflecting decreases across all business segments. For the year to date, consolidated net sales were 11.6% lower than the same period in 2015, with decreases in net sales at Rubber Compounding and Engineered Products offsetting a slight increase at Automotive. The decrease in sales compared to 2015 largely reflects continued weakness in demand from various segments of our customer base and, in Rubber Compounding, lower raw material pricing. Adjusted EBITDA (which adjusts for share–based compensation expense) of $7.6 million in the quarter was 9.5% lower than Q3 2015.

The Company's operations continue to generate strong cash, with free cash flow (defined as net cash provided by operating activities less capital expenditures for the period) increasing 43.1% to $5.0 million ($0.21 per share) in the quarter and increasing 39.2% to $14.3 million ($0.62 per share) for the year to date, compared to 2015. As a result, with over $21 million in cash and cash equivalents, $60 million in undrawn availability under its credit facilities and a net debt to TTM EBITDA ratio of 1.6x, the Company enters the fourth quarter in robust financial condition.

Segment Results

At Rubber Compounding, gross profit decreased to $4.1 million for the quarter largely as a result of a $6.0 million decrease in net sales, which was driven by a 13.0% decrease in raw material prices (where savings are passed along to the customer) and by a 27.3% decrease in volume (measured in pounds shipped) from the same period in 2015. Volume levels remain negatively impacted by softness primarily in the conveyor belt and mining segments and our chemical distribution business, as well as a large decrease in conventional tolling volumes. These decreases were partially offset by improvements in the off–the–road (OTR), retread and niche tolling segments, as well as in the third party automotive and defense segments.

Net sales at Automotive for the quarter decreased by 7.0% over Q3 2015. This change from the prior year period is primarily due to the end of production under a large muffler hanger program in the period, for which equivalent new replacement programs have not yet commenced. Management has been actively seeking to minimize the impact between the completion of sizable production programs and the commencement of production on newer programs by seeking additional opportunities in the market place. Gross profit for the quarter declined $1.7 million to $4.8 million (representing 13.9% of net sales), was driven by the aforementioned decrease in net sales as well as an inventory adjustment of $0.6 million in the quarter. Year to date, net sales increased 1.4% over the same period in 2015, largely due to increased demand in the dampers and bushings offsetting weakness in other product segments.

At our Engineered Products division, net sales were down $2.3 million in the third quarter when compared to the same period in 2015. Within Engineered Products, an increase in net sales in the industrial products business was more than offset by the decrease in net sales in the defense business, reflecting the completion in 2015 of an overboot contract and lower sales of the Extreme Cold Weather boots and PAPRs, partially offset by increased sales of gloves.

New Automotive Leadership

The Company is also pleased to announce that Bradley A. Berghouse will assume the role of division president on November 28 following the retirement of Doug Reid, who moves into an advisory role within Automotive after serving the last three years as division president. Mr. Berghouse brings with him more than 25 years of U.S. and global management experience, having provided sales, operational and fiscal leadership in various automotive and other manufacturing businesses. Mr. Berghouse is a welcome addition to the AirBoss executive team.

Outlook

For the remainder of 2016, we expect pressure on net sales to continue across all our divisions. The conditions behind the softness experienced by customers in the conveyor belt, oil & gas, mining and industrial market segments and within our chemical distribution business in Rubber Compounding and in the industrial products business of Engineered Products will remain through the end of 2016. Automotive sales for the rest of 2016 will be in line with the recent third quarter results. The outlook for our defense business for the rest of the year remains unchanged from the prior quarter.

Despite current market conditions, AirBoss remains in a strong position to benefit over the long term. In addition to maintaining a solid balance sheet, we are implementing further continuous improvement and cost control initiatives, and are structuring our businesses to consolidate and centralize certain functions to optimize the utilization of our assets across our businesses. The Company is continuing to invest in key leadership resources to further improve productivity and build best practices across the organization which, together with our efforts to expand and diversify our businesses, will position it well for profitable growth opportunities and enable it to adapt to any further market volatility.

A conference call to discuss the quarterly results is scheduled for 9:00 a.m. Eastern on Tuesday November 15, 2016. Please follow the link on our website or at www.marketwired.com under webcasts or dial in to the following numbers: 416–340–2220 or Toll Free:1–866–225–6564. Direct Replay Access number: 1–800–408–3053, pass code: 3796488.

AirBoss of America Corp. is a group of complementary businesses using compounding technology and engineering expertise to create value for its customers. With a capacity to supply over 250 million pounds of rubber annually, AirBoss Rubber Compounding is one of North America's largest custom rubber compounding companies. AirBoss Engineered Products is a world leader in the supply of life saving products for the military and essential calendered, extruded and moulded products for a broad range of applications. AirBoss Flexible Products is a leading supplier of innovative anti–vibration solutions to the North American automotive market. The Corporation's shares trade on the TSX under the symbol BOS. Visit www.airbossofamerica.com.

Note (1): Non – IFRS Financial Measures: EBITDA, Adjusted EBITDA, Free Cash Flow and Adjusted EPS do not have any standardized meanings prescribed by IFRS. Such measures are neither required by, nor calculated in accordance with IFRS, and therefore are considered Non–IFRS financial measures. The Company discloses EBITDA and Free Cash Flow, financial measurements used by interested parties and investors to monitor the ability of an issuer to generate cash from operations for debt service, financing working capital and capital expenditures and paying dividends. It should not be considered as an alternative to, or more meaningful than net income (or any other IFRS financial measure) as an indicator of the Company's performance. Because EBITDA excludes some, but not all, items that affect net income, the EBITDA and Adjusted EBITDA presented by the Company may not be comparable to similarly titled measures of other companies. A reconciliation of EBITDA and Adjusted EBITDA to net income is presented below.

Adjusted EPS represents the net income per share for the period, before deduction for share–based compensation expenses for the period and related tax effect.

  Three Months ended   Nine Months ended
  September 30   September 30
In thousands of US dollars 2016 2015   2016 2015
Net income 3,115 4,036   12,421 9,594
Finance costs 670 556   2,177 1,472
Depreciation and amortization of intangible assets 2,559 2,670   7,678 6,969
Income tax expense 925 1,141   3,058 3,269
EBITDA 7,269 8,403   25,334 21,304
           
Add back:          
Share–based compensation expenses 281 (56 ) 739 5,963
Adjusted EBITDA 7,550 8,347   26,073 27,267

AIRBOSS FORWARD LOOKING STATEMENT DISCLAIMER

Certain statements contained or incorporated by reference herein, including those that express management's expectations or estimates of future developments or AirBoss' future performance, constitute “forward–looking statements” within the meaning of applicable securities laws, and can generally be identified by words such as “will”, “may”, “could” “expects”, “believes”, “anticipates”, “forecasts”, “plans”, “intends” or similar expressions. These statements are not historical facts but instead represent management's expectations, estimates and projections regarding future events and performance.

Forward–looking statements are necessarily based upon a number of opinions, estimates and assumptions that, while considered reasonable by management at the time the statements are made, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies. AirBoss cautions that such forward–looking statements involve known and unknown contingencies, uncertainties and other risks that may cause AirBoss' actual financial results, performance or achievements to be materially different from its estimated future results, performance or achievements expressed or implied by those forward–looking statements. Numerous factors could cause actual results to differ materially from those in the forward–looking statements, including without limitation: impact of general economic conditions; its dependence on key customers; cyclical trends in the tire and automotive, construction, mining and retail industries; sufficient availability of raw materials at economical costs; weather conditions affecting raw materials, production and sales; AirBoss' ability to maintain existing customers or develop new customers in light of increased competition; AirBoss' ability to successfully integrate acquisitions of other businesses and/or companies or to realize on the anticipated benefits thereof, changes in accounting policies and methods, including uncertainties associated with critical accounting assumptions and estimates; changes in the value of the Canadian dollar relative to the US dollar; changes in tax laws and potential litigation; ability to obtain financing on acceptable terms; environmental damage caused by it and non–compliance with environmental laws and regulations; potential product liability and warranty claims and equipment malfunction. This list is not exhaustive of the factors that may affect any of AirBoss' forward–looking statements.

All of the forward–looking information in this press release is expressly qualified by these cautionary statements. Investors are cautioned not to put undue reliance on forward–looking statements. All subsequent written and oral forward–looking statements attributable to AirBoss or persons acting on its behalf are expressly qualified in their entirety by this notice. Forward–looking information contained herein is made as of the date of this press release and, whether as a result of new information, future events or otherwise, AirBoss disclaims any intent or obligation to update publicly these forward–looking statements except as required by applicable laws. Risks and uncertainties about AirBoss' business are more fully discussed in the Management's Discussion and Analysis of Financial Condition and Results of Operations in the 2015 Annual Report to Shareholders under the heading “Risk Factors”.