OLDWICK: Global rating agency AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aa+” of Massachusetts Mutual Life Insurance Company and its life/health subsidiaries, C.M. Life Insurance Company and MML Bay State Life Insurance Company (both domiciled in Enfield, CT). Concurrently, AM Best has affirmed the…
Jason Industries enters restructuring support agreement with lenders
MILWAUKEE: Jason Industries Inc. has entered into a restructuring support agreement with certain of its senior secured lenders. The Agreement outlines a comprehensive restructuring plan that will ultimately deleverage the Company’s balance sheet by $250 million and anticipates that the Company’s vendors, suppliers, and customers will remain unaffected by the transaction. Upon implementation of certain…
InnoCan Pharma commences commercial production of its CBD-integrated products in Portugal
CALGARY: InnoCan Pharma Corporation has commenced commercial production of its Derma CBD line in Portugal. Nir Avram the company’s Chief Technology Officer commented: “The unique patent pending formulation of Relief & Go CBD Spray is comprised of CBD isolate as anti inflammatory, magnesium as muscle relaxants and menthol and camphor as analgesics to provide temporary…
CREST sells Toodoggone mineral claims and acquires shares of Volatus Capital
VANCOUVER: Crest Resources Inc. has entered into an agreement to sell its 100% interest in the Lion’s Den and Peak gold properties as well as its rights to acquire two additional mineral claims in the Toodoggone region of north-western British Columbia to Volatus Capital Corp. for consideration of $35,000 cash; 3,750,000 common shares of Volatus,…
AgraFlora takes steps to obtain additional EU-GMP quality cannabis for German distribution
VANCOUVER: AgraFlora Organics International’s wholly owned subsidiary Farmako GmbH has entered into a binding supply term sheet with ZenPharm Ltd to enter into a supply agreement which is expected to be completed in the coming weeks. Under the conditions of the Term Sheet, ZenPharm will supply EU-GMP quality medical cannabis flower cultivated by Zenabis to…
AM Best affirms credit ratings of CMB Wing Lung Insurance Company
HONG KONG: Rating agency AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of CMB Wing Lung Insurance Company Limited. The outlook of these Credit Ratings (ratings) is stable. The ratings reflect CMBWLI’s balance sheet strength, which AM Best categorises as very strong, as well…
SpectrumOne applies for trademark protection in the EU
OSLO, NORWAY: SpectrumOne AB has today applied for trademark protection in the EU. The company has several ongoing dialogues with partners operating at European level. Hosni Teque-Omeirat, CEO of SpectrumOne saud, “This is an important step in showing our partners in existing dialogues our ambition and drive to drive our cooperation internationally. In our partner…
Key industrial parks unveiled in Hainan free-trade port
HAIKOU: A batch of key industrial parks were unveiled on June 3 in China’s island province of Hainan, in an effort to promote the construction of the Hainan free-trade port. The 11 key parks around the island cover three major fields, including tourism, modern services and advanced technologies. “The industrial parks are important areas to…
Lonza appoints Pierre-Alain Ruffieux as new Chief Executive Officer
BASEL, SWITZERLAND: The Board of Lonza announced today that Pierre-Alain Ruffieux has been appointed Chief Executive Officer effective 1 November 2020. Prior to that he held roles of increasing seniority at Novartis and has over 20 years’ experience in biopharmaceuticals. Albert Baehny, Chairman of the Board said: “The Board is delighted to have appointed someone…
Mobilicom selected to join AI 5G consortium
MELBOURNE: Mobilicom Limited has been selected to join the WIN (Wireless Intelligent Networks) Consortium to execute a project during calendar year 2020 valued at more than $4 million. The WIN Consortium is funded by the Israel Innovation Authority and is expected to be extended through 2021 and beyond. Mobilicom’s share in the project is valued…
Kiwi insurer Tower gives back $7.2m to customers
SYDNEY: Kiwi insurer, Tower, has confirmed that it will be refunding customers $7.2m, due to the lower cost of car claims during the COVID-19 lockdown period. Tower CEO, Richard Harding, said that every customer would be refunded part of the car insurance premiums they paid during the level three and four lockdowns. “We’re a Kiwi…
Regional express increases flights in response to QantasLink increases
PERTH: Regional Express (Rex) has announced that it will increase its flying schedule in response to QantasLink’s actions to more than double its flights to ports that are in competition with Rex. From 6 July 2020, Rex will be providing daily weekday return services to these competitive routes and will also provide twice-daily return services…