Sirona Biochem Announces Convertible Note Financing

VANCOUVER, BC—(Marketwired – January 31, 2017) – Sirona Biochem Corp. (TSX VENTURE: SBM) (FRANKFURT: ZSB) (XETRA: ZSB) announced today a non–brokered private placement (the “Private Placement”) of convertible notes (“Notes”) for gross proceeds of up to $600,000. Each Note will be convertible at the option of the holder into one common share of the company at a conversion price of $0.18 per share during the 18 month term of the Notes.

The Notes will mature in 18 months from the date of issuance and bear interest at the rate of 12% per annum, payable quarterly, until the Notes are converted or repaid. The company will be entitled to repay the principal amount of the Notes, together with accrued and unpaid interest, at any time commencing four months after the date of issuance, subject to giving the holders prior notice thereof to permit holders to convert during the notice period. The Notes are unsecured and transferable, subject to resale restrictions under applicable securities laws and TSX Venture Exchange requirements.

Sirona Biochem intends to use the net proceeds from the Private Placement for general working capital, and to support the company's efforts to secure a licensing agreement for its skin lightening compound, TFC–1067. The company is expecting to receive a term sheet for a licensing transaction for TFC–1067 in Q1 2017 but there can be no assurances that a licensing agreement will be entered into on terms acceptable to Sirona Biochem or at all. The Company may pay fees of 7% in cash to qualified finders.

All securities issued in connection with the private placement will be subject to a statutory hold period of four months commencing from the date of issuance of the Notes. Closing of the private placement is subject to customary conditions, including TSX Venture Exchange acceptance.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

In addition, the Company announces an extension to the term of 8,865,970 common share purchase warrants (the “Warrants”) originally issued on March 6, 2014. The warrants were issued as part of a private placement. The expiry dates will be extended as follows:

March 6, 2014

   
Number of Warrants: 8,865,970
Original Expiry Date of Warrants: March 6, 2017
New Expiry Date of Warrants: April 30, 2017
Exercise Price of Warrants: $0.20
   

All other terms of the Warrants will remain unchanged.

About Sirona Biochem Corp.

Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.

Sirona's compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona's laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Sirona Biochem cautions you that statements included in this press release that are not a description of historical facts may be forward–looking statements. Forward–looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward–looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Sirona Biochem's forward–looking statements due to the risks and uncertainties inherent in Sirona Biochem's business including, without limitation, statements about: a third party potential licensees of TFC–1067 may not deliver a term sheet to the company in Q1 2017 or at all; the company may not be able to negotiate a license agreement with a potential licensees of TFC–1067 on terms acceptable to Sirona Biochem; the progress and timing of its clinical trials are uncertain; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing products; unexpected adverse side effects or inadequate therapeutic efficacy of the company's or licensed products that could delay or prevent product development or commercialization; the scope and validity of patent protection for the company's or licensed products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Sirona Biochem does not assume any obligation to update any forward–looking statements except as required by law.

Hillard Heintze Closes Out 2016 with Robust Annual Growth of 33 Percent, a Vibrant New Fourth Practice and a Surge in its Workforce

CHICAGO, IL—(Marketwired – January 31, 2017) – Hillard Heintze announced today that its 2016 fiscal year, which ended on December 31, 2016, included excellent performance results and achievement of new record–setting internal benchmarks and milestones. “We have had another exceptional year,” says Chief Executive Officer Arnette Heintze, “one driven purely by organic growth and our team's disciplined and unwavering focus on continuing to build on our business's core fundamentals.”

  • Revenue for the year was 33 percent higher than 2015 and represented a cumulative annual growth rate (CAGR) of 72.9% since the firm's formation in 2004.
  • Due to a surge in demand and several back–to–back wins of large, multi–year contracts from Fortune 100 companies and major U.S. federal agencies, the company invested in its long–standing services in threat assessment and workplace violence prevention to create a fourth core area of focus — the Threat and Violence Risk Management Practice.
  • Hillard Heintze recruited and hired more people in 2017 than during any other year since inception, expanding its workforce by 38 percent — with extremely low turnover — through the hiring of 17 new team members.
  • After steady improvement over several years, the company's average proposal win rate rose to 67 percent across all four practices, including an average proposal win rate of 72 percent for the Security Risk Management Practice.
  • On December 31, 2016, the company's pipeline of new opportunities totaled $33,535,974.
  • During its first year of following up all completed projects with a brief Client Survey Questionnaire, the company achieved an average Client Satisfaction Rating (CSR) of 9.2 on a rating scale of 1 to 10, with 10 as the highest possible score.

The company has also continued to be recognized as a thought leader across all practice areas as evidenced by the number of invitations to speak and participate at industry–related and company events. These included invitations to speak at major industry events such as those hosted by ASIS International, the International Security Management Association (ISMA), Major League Baseball (MLB), the International Association of Chiefs of Police (IACP), the National Organization of Black Law Enforcement Executives (NOBLE), Financial Executives International (FEI), National Criminal Justice Association (NCJA), American Management Association (AMA) and Bureau of National Affairs (BNA), as well as new thresholds in the number of press mentions, press releases and published articles.

“This past year, 2016, was a tremendous success for us on so many levels,” says Heintze. “We have been building our capabilities since well before we were ranked as an Inc. 500–5000 awardee three years in a row and named by the Initiative for a Competitive Inner City's annual list of the 100 fastest–growing inner city firm in the United States. We have been aggressively recruiting and retaining top–tier talent, defining and refining our policies and practices, focusing obsessively on quality and recently, bringing many more efficiencies to our operations. We're really seeing that pay off now and have already begun executing our robust strategy for 2017.”

About Hillard Heintze
As one of the leading security risk management and investigations firms in the United States, Hillard Heintze protects people, performance, interests and reputations. The firm's core practices — Security Risk Management, Threat & Violence Risk Management, Investigations and Law Enforcement Consulting — provide insight, deliver assurance and instill confidence worldwide. Headquartered in Chicago, Hillard Heintze also has operations in Washington D.C., Maryland, Virginia, Florida, New York, Michigan and California as well as operating capabilities across North and South America, Europe, the Middle East, Africa, Russia and Asia.

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Survey finds variability in MS treatment preferences among individual patients, and among stakeholder groups

WESTPORT, CT—(Marketwired – January 31, 2017) – Real Endpoints, LLC (RE), a data and analytics firm focusing on assessing and quantifying pharmaceutical value, has just completed an extensive literature review and survey to tease out how different stakeholder groups assess the value of current multiple sclerosis (MS) therapies.1

Key findings of the literature review and survey are two–fold:

  • Providers and payers value MS therapies differently than people treated for MS and
  • People with MS often view the value of MS therapies differently than each other.

Conclusions

Preliminary results of the survey and literature review indicate that population–level judgments of value may not capture the variability in preferences and treatment effect among individual MS patients, payers and physicians (further research should be done to confirm these findings). Additionally, potential disparity may exist between judgments of value used at the payer level to determine coverage of MS treatments, and what MS patients would define as valuable in their own treatment decision–making.

This variability should be taken into account in healthcare decision–making, on the payer, provider and patient level. Furthermore, any tool, such as a value framework, used to quantify the value of an MS treatment should transparently define the differences in preferences and treatment goals.

Key Findings

  • Multiple sclerosis patients define value differently than payers and physicians. For example: patients ascribe highest value to a drug's effect on MS symptoms (such as fatigue and walking difficulty) relative to other attributes around a drug's efficacy; payers and physicians are more concerned with disease progression, effect on relapse rate and effect on severity of relapses.
  • Overall, patients were more concerned about a drug's safety characteristics (e.g., severity of side–effects, interactions with other medications) than were payers or physicians.
  • In the economic realm, patients were far more concerned with out–of–pocket costs than payers, who were primarily concerned about the drug's effect on healthcare services needed to treat MS.
  • Patient preferences were highly diverse. In most categories, patient opinions were more varied than those of either physicians or payers.
  • MS is difficult to treat and remains a poorly understood, extremely varied disease whose course, or treatment response, is difficult to predict in an individual patient.

Background & Methodology

A team of trained academic and non–academic clinicians and researchers reviewed over 300 research articles from scientific literature around disease heterogeneity, patient preference, and disease economics in multiple sclerosis.

To solicit response on stakeholder preferences in MS treatment 90 individuals were surveyed including thirty people diagnosed with MS, 30 payers, and 30 neurologists who treat MS.

The survey was based upon RE's RxScorecard™ drug–value assessment framework, a fully transparent, evidence–based tool that comparatively “scores” drugs that treat a particular disease.

Detailed documentation will be released in the near future, including full synthesis and reporting of collected survey data and literature review, description of methodology, and incorporation of findings into RxScorecard and potentially other frameworks to help transparently define value from the points of view of multiple stakeholders, including patients, physicians and payers.

About Real Endpoints

Real Endpoints (RE) is a healthcare information and analytics company that prepares healthcare providers, payers and pharmaceutical companies for the value–based healthcare economy. For information contact Viviana Ramos at vramos@realendpoints.com.

Learn more at www.realendpoints.com

1 The project was funded by the Pharmaceutical Research and Manufacturers of America (PhRMA).

Distinct Infrastructure Group Announces Hiring of Corporate Development Executive

TORONTO, ON—(Marketwired – January 31, 2017) – Distinct Infrastructure Group Inc. (“Distinct” or the “Company”) (TSX VENTURE: DUG) (OTCQX: DSTFF) is pleased to announce that Mr. William Nurnberger has joined Distinct as Vice President, Corporate Development. Mr. Nurnberger has over 20 years' experience across a wide range of industries including civil construction, energy services, mining, windfarm development and forestry. William has held senior positions in start–up organizations and in business development roles at larger firms. Most recently, William was VP of Portfolio Operations for a publicly traded private equity firm, overseeing a diversified portfolio of companies.

Mr. Nurnberger brings strong expertise, working with management and operations teams to grow and diversify businesses, as well as originating complimentary mergers and acquisitions.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This news release contains “forward–looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward–looking statements can be identified by the use of forward–looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or 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”. Distinct is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Distinct cannot assure investors that actual results will be consistent with these forward–looking statements and Distinct assumes no obligation to update or revise the forward–looking statements contained in this release to reflect actual events or new circumstances.

CHC Helicopter Celebrates 70 Years of Serving Customers around the World

DALLAS, TX—(Marketwired – January 31, 2017) – CHC Group (OTC PINK: HELIQ) (the “Company” or “CHC”) today announced the beginning of a year–long celebration of the operator's 70–year history since its humble beginnings as a crop dusting operation in British Columbia in April of 1947. CHC traces its roots back to Carl Agar, A.H. “Barney” Bent and Al Stringer, the three Canadian Air Force veterans who founded Okanagan Air Services on April 18, 1947. Over the next seven decades, CHC evolved from a single helicopter to a global leader in offshore transport, search and rescue, utility and emergency medical services.

“Our entire team recognizes that we are standing on the shoulders of some of the giants in the rotorcraft industry,” said Karl Fessenden, president and CEO of CHC Helicopter. “We recognize, appreciate and value the achievements that have helped build our legacy, and appreciate the contributions from our leadership and the many men and women who have worked hard across our business and over many years to support our customers.”

Okanagan Air Service took delivery of its first aircraft in August 1947, and Carl Agar perfected the utility use of helicopters in rugged and remote mountainous terrain. By 1950, Okanagan was supporting the world's largest year–round helicopter–supported construction project located in northern Canada.

As Okanagan Air Services grew, it was renamed to Okanagan Helicopters Limited in 1952. The company expanded into the oil and gas sectors and operations expanded north to the Arctic Islands, east to Newfoundland and then south to the United States. By the late 1950s, Okanagan was one of the largest and most experienced helicopter operators in the world.

Okanagan flew its first international contract in Central Asia in 1963, its first twin–engine IFR offshore crew change flight in the North Sea in 1965, and its first offshore flights to drilling platforms off North America's the Pacific and Atlantic coasts in 1967 and 1969 respectively. During the 1970s and 1980s, Okanagan's expertise was in high demand, winning international oil and gas contracts in more than two–dozen nations, including the People's Republic of China.

In 1987, Craig Dobbin's Sealand Helicopters merged with Okanagan Helicopters and Toronto Helicopters to create the Canadian Holding Company, which later became CHC. From this platform, the company continued to explore global merger and acquisition opportunities, including a 1994 merger with British International Helicopters, the 1999 acquisition of Norway's Helikopter Services Group (including the original Bond Helicopters in the UK, Court Helicopters in South Africa and Australia's Lloyd Helicopters) and the 2004 acquisition of Schreiner Aviation Group of the Netherlands which had operations in Europe, Africa and Asia. In 2005, CHC partnered with Brazilian Helicopter Services (BHS) to further expand its capabilities into Latin America. Each of these companies also have their own rich histories that CHC will honor throughout the year.

In 2004, CHC created two distinct divisions: Helicopter Services, which covered global operations and Heli–One, the world's largest independent helicopter maintenance, repair and overhaul (MRO) provider. Today, both divisions continue to serve customers around the world across six continents. Each year more than one million people rely on CHC aircraft to help them safely reach their destinations.

“We are proud of CHC's rich history and are proud of our culture which recognizes and appreciates the various opportunities that have allowed us to become the global operators we are today. In the coming months, we will share additional stories, people, images and moments from our 70–year history with our customers, employees and others,” said Fessenden. “We are proud to look back on our heritage, especially as we prepare to move into a new era for CHC in the coming weeks. We also encourage everyone who has their own CHC moments and stories to share their memories as well.”

About CHC
CHC Helicopter, celebrating 70 years of safety, innovation and service, is a global leader in enabling customers to go further, do more and come home safely, including oil and gas companies, government search–and–rescue agencies and organizations requiring helicopter maintenance, repair and overhaul services. Learn more at http://www.chc.ca/.

Cautionary Note on Forward–Looking Statements
This press release and other statements that we may make contain forward–looking statements. Forward–looking statements are statements that are not historical facts and include statements about our expectations for the timing and execution of our restructuring plan, our future financial condition and future business plans and expectations, the effect of, and our expectations with respect to, the operation of our business, adequacy of financial resources and commitments and operating expectations during the pendency of our court proceedings. Such forward–looking statements are based upon the current beliefs and expectations of our management, but are subject to risks and uncertainties, which could cause actual results and/or the timing of events to differ materially from those set forth in the forward–looking statements. These risks and uncertainties are detailed from time to time in our filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10–K for the year ended April 30, 2016 and its quarterly report for the period ended July 31, 2016. The Company's filings with the Securities and Exchange Commission are available at www.sec.gov. You are urged to consider these risks and other factors carefully in evaluating the forward–looking statements herein and are cautioned not to place undue reliance on such forward–looking statements, which are qualified in their entirety by this cautionary statement. The forward–looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update such forward–looking statements to reflect subsequent events or circumstances. No assurances can be given that our efforts to effectively reorganize under Chapter 11 of the Bankruptcy Code will ultimately be successful or that we will succeed in strengthening our balance sheet or increase our financial flexibility. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Nothing in this press release shall constitute a solicitation of any holders of any of our indebtedness or our securities or an offer to buy or sell, or a solicitation of an offer to buy or sell, any securities of the Company. Any securities that may be offered pursuant to our Chapter 11 proceedings will not be or have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Sherritt Announces 2016 Production Results and 2017 Guidance

TORONTO, ON—(Marketwired – January 31, 2017) –

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Sherritt International Corporation (“Sherritt”) (TSX: S) today announces its metals, oil & gas, and power production results for 2016 and 2017 guidance as follows:

  • Nickel production is forecast to increase in 2017, especially in the Ambatovy Joint Venture (“Ambatovy”) where full year production rates are expected to be in line with fourth quarter 2016 performance.
  • 2016 Unit Operating Costs and capital spending will be provided in the fourth quarter and year end 2016 financial reporting expected to be released on February 16, 2017 after markets close.
  • This is the first year in which Sherritt is providing a 2017 outlook for Unit Operating Costs. Net Direct Cash Costs are expected to be similar to 2016 levels at the Moa Joint Venture (“Moa JV”) and lower at Ambatovy as production rates increase.
  • Unit Operating Cost guidance figures are based on by–product and input commodity price assumptions for 2017, which are subject to change during the year, as cobalt, fertilizers, sulphur, West Texas Intermediate crude and fuel oil prices are typically volatile.
  • Total spending on capital is expected to be higher in 2017, reflecting exploratory drilling in Block 10 and additional capital at Ambatovy for additional mining fleet equipment and mine development works.
       
  2016 2016 2017
Production volumes(1) Guidance(2) Actual Guidance
Nickel, finished (tonnes, 100% basis)      
  Moa Joint Venture 32,500–33,000 32,928 33,000–34,000
  Ambatovy Joint Venture 40,000–42,000 42,105 48,000–52,000
  Total 72,500–75,000 75,033 81,000–86,000
         
Cobalt, finished (tonnes, 100% basis)      
  Moa Joint Venture 3,300–3,800 3,694 3,500–3,800
  Ambatovy Joint Venture 2,900–3,300 3,273 3,800–4,100
  Total 6,200–7,100 6,967 7,300–7,900
         
Oil – Cuba (gross working–interest, bopd) 15,000 15,452 11,500–12,500
Oil and Gas – All operations (net working–interest, boepd) 9,200 9,483 6,400–7,000
         
Power (GWh, 33⅓% basis) 860 894 850–900
Power (GWh, 100% basis) 2,580 2,682 2,550 – 2,700
(1) Nickel and cobalt production are presented on a 100% basis. Sherritt's share varies by business unit, with the Moa JV being a 50% joint venture, Ambatovy a 40% investment in an associate, and Power a 33⅓% interest.
(2) All 2016 guidance figures are as of Q3 2016 except the Moa JV, which is as of November 29, 2016.

2016 finished nickel and cobalt production from the Moa JV were both at the high end of the last published guidance, although fourth quarter production was impacted by downtime following the reported bridge collapse in November.

Ambatovy production in the fourth quarter was 12,778 tonnes finished nickel (100% basis), a strong quarter that contributed to the overall yearly production of 42,105 tonnes finished nickel. Ambatovy's full year 2016 PAL throughput rate was 78%, with refinery nickel production being 70% of capacity.

Cuba Gross working–interest (GWI) oil production of 15,452 bopd in 2016 reflects natural reservoir declines, with the decline continuing throughout 2017. Cuba GWI oil production guidance for the current year does not include any production from the wells in Block 10. Drilling and testing of the first well is currently scheduled to be completed in the first quarter, followed by the drilling and testing of the second well in the second half of 2017. Budgeted expenditures for Block 10 drilling and testing activities will account for approximately 75% of the expected capital spending this year for Oil and Gas. Test results from these two wells will determine whether or not Sherritt will proceed with commercialization of the Block. If results are successful, the revenue associated with the 2017 production will be accounted for only when commercialization of Block 10 is approved which is expected in the first quarter 2018.

Annual power production of 894 GWh (Sherritt's share) was approximately 4% higher than 2016 guidance, in a year when a pipeline was constructed earlier than budgeted which delivers additional gas. In addition, Energas received approval in December 2016 from the Cuban Executive Committee to extend the contract term of the Varadero power facilities (173 MW total installed capacity) to 2023 which was to terminate in 2018. Unit operating costs in 2017 are also expected to improve due to lower gas turbine maintenance.

   
Unit Operating Costs 2017
  Guidance
Metals (NDCC, US$ per pound)  
  Moa Joint Venture 3.20–3.70
  Ambatovy Joint Venture 3.10–3.70
Total 3.14–3.70
   
Oil and Gas – Cuba (unit operating costs, C$ per barrel) 11.00–12.00
   
Power (unit operating costs, C$ per MWh) 18.75–19.50
   

Comparing the two Metals business unit NDCC guidance ranges, Moa generally experiences more seasonality between quarters, given the higher proportion of fertilizer sales and their corresponding average realized prices. Moa also has a higher ratio of cobalt to nickel resulting in a higher cobalt credit. Moa quarterly NDCC values over the past two years have fluctuated by as much as $1.00/lb or more over the course of a year. Aside from cobalt and fertilizer credits, Moa's Mining, Processing and Refining costs are most sensitive to sulphur prices, followed by fuel oil and natural gas prices. Although the cost benefit of the newly commissioned acid plant is expected in 2017, this benefit is offset to some degree by higher forecasted energy prices and higher planned maintenance spending, including a biannual acid plant shutdown and a return to a regular duration for the annual refinery shutdown. In addition, the mine site management continues to address grade decline over the last decade, longer haulage distances as well as higher percentage rock and deleterious element content in the ore. These issues are being addressed as part of the ongoing mine planning initiatives, and are factored into 2017 Net Direct Cash Cost guidance.

The Ambatovy range of NDCC expectations is sensitive to sulphur costs and any unexpected negative impacts to production.

The Oil and Gas Unit Operating Cost guidance for 2017 is higher than 2016 which is attributable to lower production.

     
  2016 2017
Spending on capital (US$ millions / (C$ millions)) Guidance(1) Guidance(2)
Metals – Moa Joint Venture (50% basis), Fort Site (100% basis) US$38 US$28   (38)
Metals – Ambatovy Joint Venture (40% basis) US$25 US$45   (61)
         
Oil and Gas US$27 US$55   (73)
         
Power (33⅓% basis) includes US$4M 2016 Service Concession US$5 US$1   (2)
         
Spending on capital (excluding Corporate) US$95 US$129   (173)
(1) All 2016 guidance figures are as of Q3 2016.
(2) Assuming a 1.34 US$/C$ exchange rate.

    Spending on capital for 2017 (US–dollar denominated) is anticipated to be higher than the 2016 guidance levels, with most of the increase supporting the Oil and Gas growth plan. Lower capital spending at the Moa JV, which is consistent with 2016 levels excluding the Acid Plant, is offset by higher spending at Ambatovy required for additional mining fleet equipment and mine development works.

    The Oil and Gas 2017 capital program consists of (i) completion of the first Block 10 well and the drilling of a second well (US$25 million), (ii) equipment to support drilling in Block 10 (US$18 million) and (iii) the shooting of seismic on Block 8A (US$7 million), which was deferred in 2016 but is required to satisfy the commitment expenditure on the block.

    About Sherritt

    Sherritt, which is celebrating its 90th anniversary in 2017, is the world leader in the mining and refining of nickel from lateritic ores with projects and operations in Canada, Cuba and Madagascar. The Corporation is the largest independent energy producer in Cuba, with extensive oil and power operations across the island. Sherritt licenses its proprietary technologies and provides metallurgical services to mining and refining operations worldwide. The Corporation's common shares are listed on the Toronto Stock Exchange under the symbol “S”.

    Source: Sherritt Investor Relations

    Forward–Looking Statements

    This press release contains certain forward–looking statements. Forward–looking statements can generally be identified by the use of statements that include such words as “believe”, “expect”, “anticipate”, “intend”, “plan”, “forecast”, “likely”, “may”, “will”, “could”, “should”, “suspect”, “outlook”, “projected”, “continue” or other similar words or phrases. Specifically, forward–looking statements in this document include, but are not limited to, statements set out in this press release relating to the Extension.

    Forward–looking statements are not based on historic facts, but rather on current expectations, assumptions and projections about future events, including matters relating to the proposed Extension; availability of governmental, court, regulatory and third party approvals; and certain corporate objectives, goals and plans for 2017. By their nature, forward–looking statements require the Corporation to make assumptions and are subject to inherent risks and uncertainties. There is significant risk that predictions, forecasts, conclusions or projections will not prove to be accurate, that those assumptions may not be correct and that actual results may differ materially from such predictions, forecasts, conclusions or projections.

    The Corporation cautions readers of this press release not to place undue reliance on any forward–looking statement as a number of factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed in the forward–looking statements. These risks, uncertainties and other factors include, but are not limited to the risks and uncertainties set out in the Management's Discussion & Analysis of the Corporation for the period ending December 31, 2016 and the Corporation's Annual Information Form dated December 31, 2016, each of which are available on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive and should be considered in conjunction with the risk factors described in this press release and in the Corporation's other documents filed with the Canadian securities authorities.

    The Corporation may, from time to time, make oral forward–looking statements. The Corporation advises that the above paragraph and the risk factors described in this press release and in the Corporation's other documents filed with the Canadian securities authorities should be read for a description of certain factors that could cause the actual results of the Corporation to differ materially from those in the oral forward–looking statements. The forward–looking information and statements contained in this press release are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any oral or written forward–looking information or statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward–looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.

Mobio Announces Management Change

VANCOUVER, BC—(Marketwired – January 31, 2017) – Mobio Technologies Inc. (TSX VENTURE: MBO), (“Mobio” or the “Company“) today announces that its Chief Financial Officer, Kevin Rathbun, has resigned his position to pursue other interests effective January 31, 2017. Mobio has appointed Sheri Rempel Wennberg as CFO effective February 1, 2017. Mr. Rathbun will assist in a smooth transition of duties to Ms. Rempel and will remain available as a consultant to the Company.

“I would like to thank Kevin for making this transition as smooth as possible and wish him continued success in his future endeavours,” said Mobio CEO Laurie Baggio.

Ms. Rempel has more than 25 years of experience with multiple reporting issuers in financial reporting, regulatory compliance, internal control and corporate finance activities. She is currently CFO of NU2U Resources Inc., Serengeti Resources Inc., and Fantasy 6 Sports Inc., among other companies.

“Sheri is very familiar with our company and the industry within which we work,” says Mr. Baggio. “She has proven experience and is an excellent addition to our team.”

About Mobio Technologies Inc.

Mobio is a publicly traded company on the TSX Venture Exchange, headquartered in Vancouver, BC, and runs Strutta.com Media Inc. Strutta is a social promotions platform that helps marketers bring potential customers from stranger to fan to customer, and Strutta's Promotions API provides a technology platform that facilitates social media competitions and campaigns for global brands. For more information visit www.mobio.net.

CAUTIONARY NOTE REGARDING FORWARD–LOOKING STATEMENTS. Other than statements of historical fact, all statements included in this news release, including, without limitation, statements regarding future plans and objectives of Mobio are forward–looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by Mobio are those risks described herein and from time to time, in the filings made by Mobio with Canadian securities regulators. Those filings can be found on the Internet at: http://www.sedar.com.

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METRO OPTIC AND I.C.E DATACENTERS announce that the services of ThinkTel, the business services division of Distributel, offering Microsoft ExpressRoute, Microsoft 365 and Skype for Business

MONTREAL, QC—(Marketwired – January 31, 2017) – I.C.E DATACENTERS (Interconnection & Colocation for Enterprise), a neutral and independent provider of network–centric datacenters, and Metro Optic, their business unit specializing in the ownership and operation of fiber optics, are pleased to announce a new agreement with ThinkTel, the business services division of Distributel. ThinkTel is a provider of advanced voice and data services for SMEs, large enterprises and wholesale service providers, including SIP Trunking, Microsoft Office 365, ExpressRoute, and Microsoft Enterprise telephony solutions. These services will be directly available at the I.C.E Datacenters Interconnection Center located at 875 St–Antoine W. in Montreal and the Toronto datacenter in Markham, Ontario.

“We are proud to welcome ThinkTel to our interconnection center and community and to provide our customers and suppliers with access to the essential services offered by ThinkTel. We are confident that ThinkTel will meet the ever–growing need for voice and data cloud services over private links with high quality and competitive prices for our customers and prospects,” said Benoit Pineault, Vice President of Business Development, I.C.E Datacenters and Metro Optic.

ThinkTel is the first service provider to be independently certified to meet Microsoft's demanding standards for SIP Trunking and is one of the first providers to fully integrate advanced voice functionality with Lync, now known as Skype for Business, in local or hosted environments.

“We are very pleased to announce our presence at Metro Optic with ThinkTel services. This partnership will allow us to offer our SIP Trunking services, as well as leverage our expertise in Skype for Business and enterprise telephony solutions directly with both the carriers and their customers,” said Matt Stein, CEO of Distributel. “In addition, as an ExpressRoute partner ThinkTel will also offer bandwidth with QoS straight to the Microsoft cloud.”

As an expert in SIP protocol (industry standard protocol for business VoIP service), ThinkTel has become an engine of innovation within the business telephony industry. Their telecommunications network has points of presence in Toronto, Montreal, Edmonton and Vancouver, giving ThinkTel the largest coverage vs. competing local exchange carriers in Canada.

About Distributel: Established in 1988, Distributel is a leading national, independent telecommunications provider offering residential high–speed internet, television and home phone services in Canada. With offices across the country and a national network, Distributel continues to forge new partnerships and bring innovative solutions to the market. ThinkTel, the Business Services Division of Distributel, is a provider of advanced voice and data services for the SMB, Enterprise and Wholesale markets throughout Canada. As a top Microsoft Solutions Partner and a Cisco PMP, the Business Service division has become a driving innovation force in the industry. For more information, visit: www.distributel.ca or www.thinktel.ca. SOURCE: Distributel Communications Limited

About I.C.E Datacenters: I.C.E Datacenters (Interconnection & Colocation for the Enterprise) operates multiple datacenter sites and interconnection hubs in Canada. These include a leading interconnection site at 875 St–Antoine O. in Montreal. Another flagship facility for Colocation and Interconnection recently opened in Toronto (Markham). I.C.E combines deep datacenter expertise serving enterprises and cloud operators in the U.S. and Canada with know–how in operating high–speed fiber networks. I.C.E serves 150+ clients including global network providers, Fortune 500 companies in industry, e–commerce, financial services and healthcare, the government, cloud providers, ISPs, content providers and CDNs across its datacenter and fiber network in Canada. www.icedatacenters.com

About Metro Optic: METRO OPTIC is an independent provider of datacenter–neutral high–speed fiber solutions. Since its inception, Metro Optic offers specialized telecommunications services and solutions to medium– and large–sized businesses, telecom carriers, cloud operators, wholesalers and datacenter operators. Its carrier–neutral datacenter at 875 St–Antoine O. is the fiber–densest interconnection center in Montreal. www.metrooptic.com