Power3 Medical Products, Inc. (OTCBB:PWRM), a leading proteomics company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases, disclosed that Power3 has signed a definitive agreement to acquire all of the stock of Rozetta-Cell Life Sciences, Inc. Power3 plans to effectuate the acquisition of Rozetta-Cell by merging Rozetta-Cell with and into Power3, with Power3 remaining as the surviving company in the merger. The acquisition of Rozetta-Cell is expected to be completed in October or November 2010.
Rozetta-Cell is a medical biotechnology company that focuses on the delivery and imaging of stem cells during therapy. The company has a robust intellectual property portfolio and has created numerous products for adult stem cell therapy that are ready for market globally. Rozetta-Cell also has several collaborations in process through which it is partnering with industry-leading adult stem cell research companies and adult stem cell vendors.
"We are very excited to be acquiring Rozetta-Cell Life Sciences," stated Ira L. Goldknopf, President and Chief Scientific Officer of Power3 Medical Products, Inc. "Rozetta-Cell brings us a tremendous amount of complementary adult stem cell therapy technology, know-how and experience. With the addition of Rozetta-Cell, Power3 will significantly strengthen its IP portfolio in a major growth market by merging regenerative medicine with the technologies that we are using to identify disease-specific protein biomarkers and develop them into screening and diagnostic tests to address unmet medical needs."
Completion of the merger is subject to customary closing conditions, including receipt by the parties of all necessary board and shareholder approvals and third party consents. There can be no assurance that these conditions will be met or that the merger will be completed.
Power3 Medical Products, Inc. is a leading bio-technology company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases such as Alzheimer's disease, Parkinson's disease and amyotrophic lateral sclerosis (commonly known as ALS or Lou Gehrig's disease).
Majestic Gold Corp. (TSX.V:MJS)(FSE:MJT) is pleased to announce its financial and operating results for the second quarter ended March 31, 2010. Majestic generated gold revenue of $1,730,392 derived from the sale of 1,531.8oz Au, and incurred a total operating cost of $1,467,325 and no additional exploration cost. Majestic reported a net loss of $502,128, and the operating loss for the period was negligible, at $24,480. The main adjustments leading to the second quarter net loss were: non-controlling interest expense of $111,274, loss on foreign exchange of $131,045, and interest and financing cost of $170,036.
On a consolidated basis, Majestic's financial position has significantly improved when compared to the same period in 2009. As a result of the sale of its Sawayaerdun Project, Majestic reported working capital of $3,037,399 for its second quarter, compared to a working capital deficit of $4,882,075 for the corresponding period in 2009. As soon as practical, management intends to use the funds due from the sale of the Sawayaerdun project to repay its outstanding loan and to further develop the Song Jiagou Mine.
Rod Husband, P.Geo, and President of Majestic Gold, stated, "We are extremely pleased with the results of the second quarter and we look forward to becoming a positive cash flow company in the near future. Our immediate focus is on improving efficiency at the mine, repaying our outstanding loan (which will significantly reduce our expenses), and closing of the acquisition of the outstanding 40% interest at Song Jiagou."
Subsequent to recommencing mining operations at Dahedong Smelter mills at their designed capacity of 1,400 tpd, Majestic signed an agreement to acquire the remaining 40% of Yantsai Zhongia Mining Enterprise ("JVCo"). Majestic is currently fast tracking operation at the Song Jiagou Mine through expansion of milling capacity, improving infrastructure, and developing pit models, mine plans and pre-feasibility studies based on its recently announced revised resource estimate, which will be used to initially expand production to 5,000 tpd.
SeaBright Holdings, Inc (NYSE:SBX) announced that it will participate in the FBR Capital Markets 2010 Fall Investor Conference to be held November 30, 2010 at The Grand Hyatt New York Hotel, Park Avenue at Grand Central, New York City. John G. Pasqualetto, SeaBright's Chairman, President and CEO, and Scott H. Maw, CFO, will provide a presentation at 10:30 a.m. in the Imperial Room (room 2, conference level).
SeaBright Holdings, Inc., through its subsidiaries, provides multi-jurisdictional workers compensation insurance to customers in the maritime, alternative dispute resolution, and state act markets in the United States. It offers insurance coverage for prescribed benefits that employers are required to provide to their employees, who may be injured in the course of their employment.
Navigant Consulting Inc. (NYSE:NCI) announced that Christine Malcolm has joined its Healthcare practice as a Managing Director and West Coast Healthcare Leader in San Francisco. She brings significant expertise in the healthcare sector particularly with assisting healthcare provider organizations in responding to healthcare reform.
I am delighted about the addition of our new expert to the healthcare team, stated Dave Zito, Managing Director and head of Navigant's Healthcare Practice. Christine's skills immediately enhance our West Coast presence, which abounds with senior staff with a full range of specializations including strategy and performance improvement, mergers and acquisitions, facilities, managed care, revenue cycle, coding documentation and state and federal payers."
Navigant Consulting, Inc., a specialty consulting firm, provides services to companies in addressing the challenges of uncertainty, risk, distress, and significant change. It offers various professional services, such as dispute, investigative, financial, operational and business advisory, risk management, regulatory advisory, strategy, economic analysis, and transaction advisory solutions.
A. H. Belo Corporation (NYSE:AHC) announced that Douglas G. Carlston, a Class I Director of the Company since December 2007, resigned at the conclusion of meeting of the Board of Directors. Carlston's term was due to expire at the Company's annual meeting of shareholders in 2012. Carlston joined Belo Corp.'s Board of Directors in July 2007 and subsequently became a director of A. H. Belo Corporation when Belo Corp. spun off its newspapers in February 2008.
Carlston said, It has been a high privilege to serve on the board of one of America's great media companies. Changes in my personal situation make frequent absences from home more difficult, and I need to alter my outside business commitments accordingly. I leave knowing that A. H. Belo is in good hands and that the Company will continue its impressive rebound from the economic doldrums which affected all U. S. newspapers in 2008 and 2009.
A. H. Belo Corporation, together with its subsidiaries, operates as a news and information company primarily in the United States. The company owns and operates four daily newspapers and associated Web sites. Its newspapers include The Dallas Morning News, The Providence Journal, The Press-Enterprise, and the Denton Record-Chronicle that publish local, state, national, and international news. The company also engages in the direct mail, and commercial printing and distribution businesses. In addition, A. H. Belo Corporation, through its joint venture interest in Classified Ventures, LLC, operates three online businesses, including cars.com, apartments.com, and homegain.com.
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