TORONTO: Australis Capital Inc. (AUSA) has entered into an agreement to acquire Passport Technology Inc., leveraging Passport’s international footprint in brick and mortar casinos with AUSA’s Cocoon Technology serving cannabis dispensaries in North America and AUSA’s Paytron Merchant Services. In connection with and contingent on completion of the Passport Acquisition, AUSA also announces a non-brokered…
Choom’s Ontario expansion continues with its first Toronto location
VANCOUVER: Choom, who has secured an extensive national retail footprint, continues to build momentum after the successful opening of its latest flagship location in Vancouver, with plans to replicate its success in Toronto. Choom has strategically chosen the young, creative, and bustling neighborhood of Liberty Village, next to the downtown core of Toronto. The village…
Algernon receives ethics approval for U.S. sites for human study of ifenprodil for covid-19
VANCOUVER: Algernon Pharmaceuticals Inc., a clinical stage pharmaceutical development company, has received ethics approval from a central institutional review board for U.S. study sites for its multinational Phase 2b/3 human study of NP-120 (Ifenprodil) for COVID-19. Ifenprodil is an NMDA receptor antagonist specifically targeting the NMDA-type subunit 2B. The Company has also signed agreements with…
U.S. insurance companies’ exposures to commercial mortgage loans crossed $522bn
OLDWICK: According to insurance sector rating agency AM Best, the U.S. life/annuity (L/A) insurance companies continued to increase their exposures to commercial mortgage loans in 2019 and now hold more than $522 billion, up significantly from $382 billion in 2015. The Best’s Special Report, titled, “Commercial Mortgage Loans Increasing, Credit Quality Decreasing,” notes that U.S….
London Life International Reinsurance assigned strong ratings with stable outlook
OLDWICK: Rating agency AM Best has assigned a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of “aa” to London Life International Reinsurance Corporation (LLIRC) (Barbados). The outlook assigned to the Credit Ratings is stable. London Life is rated as part of the group rating for The Canada Life Assurance Company…
AM Best affirms credit ratings of Samsung Fire & Marine Insurance of Europe Limited
LONDON: AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” of Samsung Fire & Marine Insurance Company of Europe Limited (SFME) (United Kingdom). The outlook of these Credit Ratings is stable. The ratings reflect SFME’s balance sheet strength, which AM Best categorises as very strong,…
Performance bond demand spotlights differences between approaches of European and US models
LONDON: European governments need to seriously consider the behavioural consequences of different performance bond models for government investment projects, especially as they embark on projects to kick-start COVID-19-affected economies. In its new Best’s Special Report, “Performance Bonds—Demand Spotlights Different Approaches”, AM Best notes that the difference between European and U.S. performance bond formats reflect a…
Virgin Hyperloop and Spirit AeroSystems announce collaboration agreement
LOS ANGELES: Spirit AeroSystems has joined in partnership with Virgin Hyperloop as it prepares to move towards a commercial product. The collaboration will help to solidify the hyperloop prototype utilizing Spirit Aerosystems engineers, fabricators, builders, supply chain and certification experts, and technicians. “As one of the most credible aerospace-grade structures companies in the world, Spirit…
CapitaLand gears up for tenants’ return to its business parks and offices in Singapore
SINGAPORE: Singapore’s safe reopening underway, CapitaLand is working collaboratively with its ecosystem partners to safeguard the work space community at its business parks and offices against COVID-19. It is proactively leveraging the Group’s digital platforms such as CapitaStar@Work and Capita3Eats, and harnessing tech innovations such as contactless technologies, to help tenants adapt to the post-COVID-19…
Chesterfield Resources commences percussion drilling in Cyprus
LONDON: Chesterfield Resources Plc, the copper and gold mineral exploration company, has commenced percussion drilling on a series of locations in its Troodos West licence area in Cyprus. Percussion drilling is a cost-effective and rapid method to investigate targets at depths of up to 200 meters. Rock chips from percussion drilling yield strong data for…
AWS announces Amazon Honeycode
SEATTLE: Amazon Web Services (AWS) announced Amazon Honeycode, a fully managed service that allows customers to quickly build powerful mobile and web applications – with no programming required. Customers who need applications to track and manage things like process approvals, event scheduling, customer relationship management, user surveys, to-do lists, and content and inventory tracking no…
US Army places additional orders with Adacel for Air Traffic Control common simulator program
PERTH: Adacel Technologies Limited, an industry leader in advanced air traffic management solutions and simulation training systems, announced the US Army purchased over 60 Adacel simulators to further support its Air Traffic Control Common Simulator (ACS) Program. The contract, valued at approximately $2.8 million, includes software and hardware support. “We welcome the opportunity to continue…