Researchers discover cell-type-specific link between alternative splicing and autoimmune disease inheritance
As President-elect Donald Trump reshuffles his cabinet wish list, Florida Gov. Ron DeSantis seems to be moving closer to the halls of the Pentagon, that is if Trump's embattled first choice for the job flames out. Pete Hegseth's nomination continues to be clouded by troubling allegations raising serious concerns about his suitability for one of the country's most critical roles. That said, on Friday Trump made his first public show of support for Hegseth, according to ABC News since the scandals began to flood the airwaves. “Pete Hegseth is doing very well. His support is strong and deep,” Trump wrote on his social media platform. “He was a great student — Princeton/Harvard educated — with a Military state of mind. He will be a fantastic, high energy, Secretary of Defense Defense [typo in original text], one who leads with charisma and skill," wrote Trump who added that Hegseth is a "WINNER." But then Trump invited someone else (DeSantis) to the upcoming annual Army-Navy college football game, reported Fox News on Friday. Which means? Read Also: Trump To Swap Hegseth For DeSantis? Here’s What Polymarket Odds For Defense Secretary Pick Show While not a defense stalwart though he did offer to send Florida troops to the Texas border to stop the flow of drugs and immigrants from Mexico, DeSantis served as a Navy Judge Advocate General (JAG) officer and deployed to Iraq, making him comparatively qualified by Trump standards, which seem to prioritize loyalty and optics over skill and experience. In Florida, DeSantis has been riding high since the defeat of the constitutional amendment to legalize cannabis, which he fought against tooth and nail despite widespread public support for legalization, which included Trump’s endorsement that no doubt irked the governor. Advocates argue DeSantis’ resistance to cannabis reform not only stifled economic opportunities in the state but also ignored the will of many Floridians. For an amendment to be adopted in Florida, it must receive 60% of the vote. The cannabis amendment received 57% — a majority, but no cigar. The cannabis angle could become relevant given the growing recognition of legalization as a bipartisan issue. For a potential Secretary of Defense nominee, opposition to marijuana reform could complicate relations within the states — 38 and counting — and nations where cannabis is embraced for its medical, social and economic benefits. Now Read : Trump’s DEA Drama: He Didn’t Quit, I Fired Him — A Tale Of Pastors, Pandemic And Hurt Feelings © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Guest Opinion: Musk and Ramaswamy have their work cut out for themTottenham star DEACTIVATES his social media account after abuse from fans for post in aftermath of Chelsea def - Daily MailFormer Rep. Matt Gaetz said Friday that he will not be returning to Congress after withdrawing his name from consideration to be attorney general under President-elect Donald Trump amid growing allegations of sexual misconduct. “I’m still going to be in the fight, but it’s going to be from a new perch. I do not intend to join the 119th Congress,” Gaetz told conservative commentator Charlie Kirk, adding that he has “some other goals in life that I’m eager to pursue with my wife and my family.” The announcement comes a day after Gaetz, a Florida Republican, stepped aside from the Cabinet nomination process amid growing fallout from federal and House Ethics investigations that cast doubt on his ability to be confirmed as the nation’s chief federal law enforcement officer. The 42-year-old has vehemently denied the allegations against him. Gaetz's nomination as attorney general had stunned many career lawyers inside the Justice Department, but reflected Trump's desire to place a loyalist in a department he has marked for retribution following the criminal cases against him. Hours after Gaetz withdrew, Trump nominated Pam Bondi, the former Florida attorney general, who would come to the job with years of legal work under her belt and that other trait Trump prizes above all: loyalty. It's unclear what's next for Gaetz, who is no longer a member of the House. He surprised colleagues by resigning from Congress the same day that Trump nominated him for attorney general. Some speculated he could still be sworn into office for another two-year term on Jan. 3, given that he had just won reelection earlier this month. But Gaetz, who has been in state and national politics for 14 years, said he's done with Congress. “I think that eight years is probably enough time in the United States Congress," he said.
Jaipur, Dec 9 (IANS): A special session on sustainable mining was held on Monday at the Jaipur Exhibition and Convention Centre (JECC) in Sitapura, on the inaugural day of the Rising Rajasthan Global Investment Summit 2024. The session, titled ‘Sustainable Mining: Safeguarding the Future,’ brought together leading experts and policymakers to discuss the latest trends and challenges in resource conservation, decarbonisation, and the adoption of eco-friendly practices. Key topics included the role of AI-driven innovations and renewable energy in transforming the mining sector. Rajasthan Chief Minister Bhajan Lal Sharma highlighted the importance of the mining sector in the state, stating: "Our mining industry currently employs around 35 lakh people. We've also introduced a new M-Sand policy that is environmentally friendly and offers an alternative to high-quality building materials. This policy removes previous constraints such as the three-year experience requirement and a three-crore turnover condition for establishing units. "To support these units, we’ve introduced provisions for benefits under the Rajasthan Investment Promotion Scheme 2024." Union Minister of Coal and Mines, G. Kishan Reddy, emphasised the Government of India's commitment to self-reliance on mineral resources, stating: "Self-reliance on minerals is a central goal of Vision 2047. Under the leadership of Prime Minister Modi, transformative reforms in the minerals sector have boosted production and enabled states to realize their full potential." Kishan Reddy praised Rajasthan's leadership in mineral extraction and technology, noting: "Rajasthan is a key player in India's mineral security, producing 52 out of 82 commercial minerals. It is the sole producer of critical minerals like zinc and silver, underscoring its national importance." He also lauded Rajasthan's forward-looking Minerals Policy 2024, which focuses on exploring critical minerals and streamlining the auction process, saying: "This progressive policy will strengthen resource security and promote sustainable exploration, aligning with India’s vision for a self-reliant, resource-secure future." T. Ravikanth, Principal Secretary, Mines & Petroleum, government of Rajasthan, shared the state's commitment to sustainable mining through policies like the Sand Policy 2024, Star Rating for Minor Minerals, and incentives for recovering metals from mining tailings. The session focused on advanced technologies and practices that minimise mining's ecological impact, with panelists discussing AI-driven predictive analytics, autonomous mining trucks, renewable energy integration, and mineral waste recycling. Topics also included decarbonisation initiatives, resource conservation, and sustainable social infrastructure development. Prominent personalities attending the event included Arun Misra, CEO of Hindustan Zinc Ltd & Executive Director at Vedanta Ltd.; Dr. Ranjit Rath, Chairman & Managing Director of Oil India Ltd.; David Joseph Finn, GM, Head of HZL GEOTECH Mining Operations; Andrew Hall, Director/CEO of Australian Mining Consultants; and Akshaydeep Mathur, Secretary General of the Federation of Mining Associations of Rajasthan.The New York Rangers have made a move post-Jacob Trouba, and the first order of business was to sign goalie Igor Shesterkin . It was reported by NHL Insider Kevin Weekes that GM Chris Drury and the New York Rangers have signed Shesterkin to an eight-year contract. The deal is reported to pay between $11.5 Million to $12 Million AAV for the superstar goalie. Igor Shesterkin has been the Rangers #1 goalie since the exodus of Henrik Lundqvist. He's being paid handsomely for his efforts in the net, which helped push the team to the Eastern Conference finals in 2023-2024. This season, Shesterkin's been a reliable backstop, as he's played 18 games for the Rangers this season, with an 8-9-1 record, 3.05 GAA, and an .908 save percentage. He's done his best to shoulder the burden of one of the weakest Rangers teams constructed and maintained a save percentage above .900 all the while. With ex-Captain Jacob Trouba out, the Rangers found an extra $8 Million to allocate to signing their Vezina Trophy-winning goalie. This deal puts him above the Montreal Canadiens' Carey Price $10.5 Million dollar deal as the highest-paid goalie in the NHL. He will wear a Blueshirt for the next season, and will hopefully be the one to backstop them to a Stanley Cup championship. This article first appeared on NY Rangers Insider and was syndicated with permission.
Clinical and regulatory success in 2024 expected to drive value in 2025 CRANFORD, N.J. , Dec. 27, 2024 /PRNewswire/ -- Citius Pharmaceuticals, Inc. ("Citius Pharma" or the "Company") (Nasdaq: CTXR ), a biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products today reported business and financial results for the fiscal full year ended September 30, 2024 . Fiscal Full Year 2024 Business Highlights and Subsequent Developments Achieved U.S. Food and Drug Administration (FDA) approval of LYMPHIRTM (denileukin diftitox-cxdl), an immunotherapy for the treatment of adults with relapsed or refractory cutaneous T-cell lymphoma (CTCL); Advanced manufacturing, marketing and sales activities in preparation for commercial launch of LYMPHIR in the first half of 2025; Completed the merger of Citius Pharma's oncology subsidiary with TenX Keane to form Citius Oncology, Inc., a standalone publicly traded company which began trading on the Nasdaq exchange under the ticker symbol CTOR on August 13, 2024 ; Supported two investigator-initiated trials to explore LYMPHIR's potential as an immuno-oncology combination therapy being conducted at the University of Pittsburgh Medical Center and the University of Minnesota ; Shared interim trial results with the clinical community at the Society for Immunotherapy of Cancer Conference (SITC) of University of Pittsburgh Medical Center's Phase I trial of LYMPHIR with checkpoint inhibitor pembrolizumab; and, Met primary and secondary endpoints in the Phase 3 Pivotal Trial of Mino-Lok ® , demonstrating a statistically significant improvement in time to catheter failure of infected catheters compared to other physician-selected anti-infective lock solutions. Financial Highlights Cash and cash equivalents of $3.3 million as of September 30, 2024 ; R&D expenses were $11.9 million for the full year ended September 30, 2024 , compared to $14.8 million for the full year ended September 30, 2023 ; G&A expenses were $18.2 million for the full year ended September 30, 2024 , compared to $15.3 million for the full year ended September 30, 2023 ; Stock-based compensation expense was $11.8 million for the full year ended September 30, 2024 , compared to $6.6 million for the full year ended September 30, 2023 ; and, Net loss was $39.4 million , or ($5.97) per share for the full year ended September 30, 2024 compared to a net loss of $32.5 million , or ($5.57) per share for the full year ended September 30, 2023 . "In fiscal year 2024 we drove tremendous progress in our pipeline. It was a transformative year, marked by our first FDA approval and significant clinical milestones. The approval of LYMPHIRTM and the positive Phase 3 results for Mino-Lok® underscore our commitment to developing innovative therapies. Our team successfully responded to FDA comments related to the biologics license application for LYMPHIR and ultimately gained FDA approval. Productive engagement with the FDA regarding the positive results of our Phase 3 Mino-Lok® trial and Phase 2 Halo-Lido trial clarified our next steps for both programs. We anticipate continued engagement with the agency in the coming year and look forward to their guidance. Additionally, we are exploring strategic partnerships and licensing opportunities to maximize the potential of our portfolio and bring these important therapies to market efficiently," stated Leonard Mazur , Chairman and CEO of Citius Pharma. "Looking ahead, our priorities for fiscal year 2025 include launching LYMPHIRTM through our majority-owned subsidiary, Citius Oncology, driving the clinical and regulatory strategies for Mino-Lok® and Halo-Lido, fortifying our financial position, and applying a disciplined approach to resource allocation. We expect to launch LYMPHIR in the first half of 2025 and distribute CTOR shares to Citius Pharma shareholders by the end of the year, pending favorable market conditions. Our goal remains to deliver value for patients, healthcare providers, and shareholders. With a clear vision and a strong team, we are well-positioned to execute on our mission of bringing innovative therapies to market," added Mazur. FULL YEAR 2024 FINANCIAL RESULTS: Liquidity As of September 30, 2024 , the Company had $3.3 million in cash and cash equivalents. As of September 30, 2024 , the Company had 7,247,243 common shares outstanding, as adjusted for the 1-for-25 reverse stock split of the Company's common stock, effected on November 25, 2024 . During the year ended September 30, 2024 , the Company received net proceeds of $13.8 million from the issuance of equity. The Company expects to raise additional capital to support operations. Research and Development (R&D) Expenses R&D expenses were $11.9 million for the full year ended September 30, 2024 , compared to $14.8 million for the full year ended September 30, 2023 . The decrease in R&D expenses primarily reflects the completion of the Halo-Lido trial and completion of activities related to the regulatory resubmission for LYMPHIR, offset by shutdown costs associated with the end of the Phase 3 trial for Mino-Lok. We expect research and development expenses to decrease in fiscal year 2025 as we continue to focus on the commercialization of LYMPHIR through our majority-owned subsidiary, Citius Oncology and because we have completed the Phase 3 trial for Mino-Lok. General and Administrative (G&A) Expenses G&A expenses were $18.2 million for the full year ended September 30, 2024 , compared to $15.3 million for the full year ended September 30, 2023 . The increase was primarily due to costs associated with pre-launch and market research activities associated with LYMPHIR. General and administrative expenses consist primarily of compensation costs, professional fees for legal, regulatory, accounting and corporate development services, and investor relations expenses. Stock-based Compensation Expense For the full year ended September 30, 2024 , stock-based compensation expense was $11.8 million as compared to $6.6 million for the prior year. The increase of $5.2 million is largely due to the grant of options under the Citius Oncology stock plan. Stock-based compensation expense under the Citius Oncology stock plan was $7.5 million during the year ended September 30, 2024 , compared to $2.0 million for the year ended September 30, 2023 , as the plan was initiated in July 2023 . For the years ended September 30, 2024 and 2023, stock-based compensation expense also includes $47,547 and $130,382 , respectively, for the NoveCite stock option plan. In fiscal years 2023 and 2024, we granted options to our new employees and additional options to other employees, our directors, and consultants. Net loss Net loss was $39.4 million , or ($5.97) per share for the year ended September 30, 2024 , compared to a net loss of $32.5 million , or ($5.57) per share for the year ended September 30, 2023 , as adjusted for the reverse stock split. The increase in net loss reflects an increase in operating expense of $5.3 million offset by a decrease of $1.6 million in other income. Operating expense increased due to increases in stock-based compensation and general and administrative expenses, which were offset by decreased research and development expense. About Citius Pharmaceuticals, Inc. Citius Pharma is a biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products. In August 2024 , the FDA approved LYMPHIRTM, a targeted immunotherapy for an initial indication in the treatment of cutaneous T-cell lymphoma. Citius Pharma's late-stage pipeline also includes Mino-Lok®, an antibiotic lock solution to salvage catheters in patients with catheter-related bloodstream infections, and CITI-002 (Halo-Lido), a topical formulation for the relief of hemorrhoids. A Pivotal Phase 3 Trial for Mino-Lok and a Phase 2b trial for Halo-Lido were completed in 2023. Mino-Lok met primary and secondary endpoints of its Phase 3 Trial. Citius Pharma is actively engaged with the FDA to outline next steps for both programs. For more information, please visit www.citiuspharma.com . Forward-Looking Statements This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are made based on our expectations and beliefs concerning future events impacting Citius Pharma. You can identify these statements by the fact that they use words such as "will," "anticipate," "estimate," "expect," "plan," "should," and "may" and other words and terms of similar meaning or use of future dates. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated, and, unless noted otherwise, that apply to Citius Pharma are: our ability to raise additional money to fund our operations for at least the next 12 months as a going concern; our ability to commercialize LYMPHIR through our majority-owned subisity and any of our other product candidates that may be approved by the FDA; the estimated markets for our product candidates and the acceptance thereof by any market; the ability of our product candidates to impact the quality of life of our target patient populations; risks related to research using our assets but conducted by third parties; risks relating to the results of research and development activities, including those from our existing and any new pipeline assets; our ability to maintain compliance with Nasdaq's continued listing standards; our dependence on third-party suppliers; our ability to procure cGMP commercial-scale supply; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; uncertainties relating to preclinical and clinical testing; the early stage of products under development; market and other conditions; risks related to our growth strategy; patent and intellectual property matters; our ability to identify, acquire, close and integrate product candidates and companies successfully and on a timely basis; government regulation; competition; as well as other risks described in our Securities and Exchange Commission ("SEC") filings. These risks have been and may be further impacted by any future public health risks. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements. Risks regarding our business are described in detail in our SEC filings which are available on the SEC's website at www.sec.gov , including in Citius Pharma's Annual Report on Form 10-K for the year ended September 30, 2024 , filed with the SEC on December 27, 2024 , as updated by our subsequent filings with the SEC. These forward-looking statements speak only as of the date hereof, and we expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law. Investor Contact: Ilanit Allen [email protected] 908-967-6677 x113 Media Contact: STiR-communications Greg Salsburg [email protected] -- Financial Tables Follow – SOURCE Citius Pharmaceuticals, Inc.
Manchester City boss Pep Guardiola reiterated that “everyone is innocent until proven guilty” as he responded to comments from Jose Mourinho about winning “cleanly and fairly”. Towards the end of Sunday’s 2-0 loss at Liverpool, Guardiola was subjected to chants that he would be “sacked in the morning” from Reds fans and responded by holding up six fingers, to represent the number of Premier League titles he has won with City. Two days later, when was asked about former Chelsea boss Mourinho holding up three fingers before being axed by Manchester United in 2018, he said: “I hope not in my case. Maybe in the end we are quite similar, (and I’m) like Jose. But he won three, I won six.” City were charged with 115 alleged breaches of top-flight financial rules in February 2023, and with failing to co-operate with the subsequent investigation. The club have denied the charges and an outcome is expected next year. Asked about Mourinho’s remarks at his pre-match press conference ahead of Saturday’s trip to Crystal Palace, Guardiola said: “It was a joke. But he’s another one in the huge list that they want the team being in, I don’t know, League One or the Conference. “I would say to Jose the same – we are innocent until proven guilty, and after that we will see what happens. It is what it is. It was completely a joke. “I think both with our teams, him with Chelsea, myself with Man City, we can sit at the table with Sir Alex Ferguson and Arsene Wenger (who won 13 league titles with United and three with Arsenal respectively), right? For the many, many titles we won. “It is another one from the huge list in this country and more around the world that want us at the bottom. “It’s OK, it’s fine. I’ve said many times wait for the sentence and everyone, especially in democracy, is innocent until proven guilty. Right? So we’ll wait, and after we’ll see.” As well as the six league titles, City’s haul of silverware since Guardiola took charge in 2016 includes two FA Cups and four League Cups, and he has also overseen them winning the Champions League, Super Cup and Club World Cup. Guardiola was asked if he had ever envisaged it being as good as it has been when he arrived at the club, and the former Barcelona and Bayern Munich head coach said: “No. I remember many people say ‘he wins because it’s Barcelona with Leo Messi and the other ones’, I had to prove it in England. OK, we did it.” The result at Anfield was a sixth defeat in a seven-game winless run for City, and fourth league loss in a row – a sequence they then ended with Wednesday’s 3-0 home victory over Nottingham Forest. The champions currently lie fourth, nine points behind Arne Slot’s leaders Liverpool, and Guardiola said: “We broke that bad run. Always it’s not easy when you don’t win for a long time, and now you break it and we have to try to continue with the players, the spirit we show, and we’ll see what happens.” The last two matches have seen Stefan Ortega play in goal, with Ederson on the bench, and asked what the latter had to do to get back in the team, Guardiola said: “He needs the manager to select him. This is what he needs, it’s simple.”Trump asks Supreme Court to delay TikTok ban so he can weigh in after he takes office
Unai Emery felt his Aston Villa side restored confidence by returning to winning ways with a 3-1 victory over Brentford in the Premier League. Morgan Rogers’ fourth goal of the season, an Ollie Watkins penalty and Matty Cash’s finish put Villa 3-0 up after 34 minutes. Mikkel Damsgaard pulled one back for Brentford in the second half but the damage had been done as Villa ended their eight-match winless run in all competitions. Emery was relieved to end the unwanted streak but quickly turned his attention to the next fixture against Southampton on Saturday. “We broke a spell of bad results we were having,” the Villa boss said. “We started the first five or 10 minutes not in control of the game but then progressively we controlled. “Today we achieved those three points and it has given us confidence again but even like that it’s not enough. We have to keep going and think about the next match against Southampton on Saturday. “The message was try to focus on each match, try to forget the table. How we can recover confidence and feel comfortable at home. Today was a fantastic match.” Tyrone Mings returned to the starting line-up in the Premier League for the first time since August 2023. Emery admitted it has been a long road back for the 31-year-old and is pleased to have him back. He added: “Mings played in the Champions league but it’s the first time in the league for a year and three months. “I think he played fantastic – he might be tired tomorrow but will be ready for Saturday again. “It was very, very long, the injury he had. His comeback is fantastic for him and everybody, for the doctor and physio and now he’s training everyday.” Brentford fell to a sixth away defeat from seven games and have picked up only a solitary point on the road this season. They have the best home record in the league, with 19 points from seven matches, but they have the joint worst away record. Bees boss Thomas Frank is confident form will improve on the road. He said: “On numbers we can’t argue we are better at home than away, but on numbers it’s a coincidence. I think two of the seven away games have been bad. “The other games we performed well in big spells. I’m confident at the end of the season we will have some wins away from home.” Frank felt Villa should not have been given a penalty when Ethan Pinnock brought Watkins down. He added: “I want to argue the penalty. I don’t think it is (one). I think Ollie kicked back and hit Ethan, yes there is an arm on the shoulder but threshold and all that – but that’s not the reason we lost.”Why Miami’s Pop-Tarts Bowl appearance is important even after missing College Football Playoff
Upstart Holdings chief legal officer sells $446,284 in stock
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WALTHAM, Mass.--(BUSINESS WIRE)--Dec 6, 2024-- Vicarious Surgical Inc. (“Vicarious Surgical” or the “Company”) (NYSE: RBOT, RBOT WS), a next-generation robotics technology company seeking to improve lives by transforming robotic surgery, today announced the pending departure of William Kelly, its Chief Financial Officer (CFO), to pursue other career opportunities, after nearly four years of dedicated service with the Company. Mr. Kelly has served as Vicarious Surgical’s CFO since January 2021. He will assist the Company to ensure minimal disruption and a successful transition of responsibilities prior to his departure, which is slated for January 2, 2025. “On behalf of the Company and Board, I want to extend my sincerest gratitude to Bill for his significant contribution over the last few years,” said Adam Sachs, Co-Founder and Chief Executive Officer. “Bill has been an incredible asset to Vicarious Surgical, and we wish him all the best in his future endeavors.” Mr. Kelly added “My tenure at Vicarious Surgical has been a period of significant progress and accomplishment, both for the Company and for me personally. I am deeply grateful for the opportunities I have been afforded and the collaborative spirit of the entire team. I depart with immense pride in our collective achievements and unwavering confidence in the Company's continued success under its strong leadership.” The Company has initiated a CFO succession process and will provide updates as appropriate. About Vicarious Surgical Founded in 2014, Vicarious Surgical is a next generation robotics company, developing a unique disruptive technology with the multiple goals of substantially increasing the efficiency of surgical procedures, improving patient outcomes, and reducing healthcare costs. The Company’s novel surgical approach uses proprietary human-like surgical robots to virtually transport surgeons inside the patient to perform minimally invasive surgery. The Company is led by an experienced team of technologists, medical device professionals and physicians, and is backed by technology luminaries including Bill Gates, Vinod Khosla’s Khosla Ventures, Innovation Endeavors, Jerry Yang’s AME Cloud Ventures, Sun Hung Kai & Co. Ltd and Philip Liang’s E15 VC. The Company is headquartered in Waltham, Massachusetts. Learn more at www.vicarioussurgical.com . Forward-Looking Statements This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. The company’s actual results may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. All statements other than statements of historical facts contained herein, are forward-looking statements that reflect the current beliefs and expectations of management. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside Vicarious Surgical’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the ability to maintain the listing of Vicarious Surgical’s Class A common stock on the New York Stock Exchange; the approval, commercialization and adoption of Vicarious Surgical’s initial product candidates and the success of its single-port surgical robot, called the Vicarious Surgical System, and any of its future product candidates and service offerings; changes in applicable laws or regulations; the ability of Vicarious Surgical to raise financing in the future; the success, cost and timing of Vicarious Surgical’s product and service development activities; the potential attributes and benefits of Vicarious Surgical’s product candidates and services; Vicarious Surgical’s ability to obtain and maintain regulatory approval for the Vicarious Surgical System, and any related restrictions and limitations of any approved product; the size and duration of human clinical trials for the Vicarious Surgical System; Vicarious Surgical’s ability to identify, in-license or acquire additional technology; Vicarious Surgical’s ability to maintain its existing license, manufacture, supply and distribution agreements; Vicarious Surgical’s ability to compete with other companies currently marketing or engaged in the development of products and services that Vicarious Surgical is currently marketing or developing; the size and growth potential of the markets for Vicarious Surgical’s product candidates and services, and its ability to serve those markets, either alone or in partnership with others; the pricing of Vicarious Surgical’s product candidates and services and reimbursement for medical procedures conducted using its product candidates and services; the company’s estimates regarding expenses, revenue, capital requirements and needs for additional financing; Vicarious Surgical’s financial performance; economic downturns, political and market conditions and their potential to adversely affect Vicarious Surgical’s business, financial condition and results of operations; Vicarious Surgical’s intellectual property rights and its ability to protect or enforce those rights, and the impact on its business, results and financial condition if it is unsuccessful in doing so; and other risks and uncertainties indicated from time to time in Vicarious Surgical’s filings with the SEC. Vicarious Surgical cautions that the foregoing list of factors is not exclusive. The company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Vicarious Surgical does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. View source version on businesswire.com : https://www.businesswire.com/news/home/20241206242926/en/ CONTACT: Investors Kaitlyn Brosco Vicarious Surgical Kbrosco@vicarioussurgical.com Media Inquiries media@vicarioussurgical.com KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: MEDICAL SUPPLIES TECHNOLOGY OTHER HEALTH HEALTH ROBOTICS HEALTH TECHNOLOGY OTHER TECHNOLOGY MEDICAL DEVICES HOSPITALS SURGERY HARDWARE SOURCE: Vicarious Surgical Inc. Copyright Business Wire 2024. PUB: 12/06/2024 04:05 PM/DISC: 12/06/2024 04:05 PM http://www.businesswire.com/news/home/20241206242926/enOfficial Results Confirm Mahama’s Victory in Ghana’s 2024 Presidential ElectionTORONTO, Dec. 27, 2024 (GLOBE NEWSWIRE) -- Clear Blue Technologies International Inc. (TSXV: CBLU) (FRANKFURT: OYA) (OTCQB: CBUTF) (“ CBLU ” or the “ Company ”) today announces that as a result of strong support from its secured lenders, its shareholders, customers, suppliers, employees and convertible debenture holders and other creditors and investors, it has initiated a proposed package of financial restructuring which should position the company well to embrace the opportunities in front of it in 2025 and beyond. The Package consists of the following: A Shares for Debt Transaction to convert existing convertible debentures, shareholder loans, and other creditor amounts into equity. A Private Placement to raise additional working capital funds. A share consolidation of 6:1 to meet certain TSX Venture Exchange (“ TSXV ”) regulatory requirements. A cost reduction program within the Company to reduce operating expenses and R&D investments. “Clear Blue is strongly positioned to address North American and African Telecom and Smart City opportunities. It is a leader in its target markets and now has 4 proven products, each with strong growth potential. The last 3 years of Covid, war, inflation, interest rate hikes and related events have held the Company back from being able to capitalize on this opportunity. As a result of this financial restructuring, the Company can now move forward and focus on the opportunity in front of it,” said Miriam Tuerk, Co-Founder and CEO of Clear Blue. “A community builds a company, and the Clear Blue community has stepped forward at this stage to support the Company in a big way. We cannot thank everyone enough for their contribution and willingness to work together to achieve this milestone.” Details of the above are provided below: The Company will be entering into debt settlement agreements with certain debenture holders and other creditors to settle an aggregate of approximately $8.77 million indebtedness that will be converted into units of the Company, with each unit comprised of one common share and one common share purchase warrant at a price per common share of $0.03, with each warrant exercisable for 24 months at a strike price of $0.05 (the “ Shares for Debt Transaction ”). If $8.77 million indebtedness is settled then an aggregate of 292,438,847 common shares and 272,503,847 warrants will be issued on closing. The completion of the Shares for Debt Transactions is subject to a number of conditions, including the approval of the TSXV. Upon finalizing agreements with all creditors, the Company will issue a subsequent news release outlining the precise amount of debt settled and the number of units issued on closing. Alongside the Shares for Debt Transaction, the Company has also initiated a non-brokered private placement on identical terms to the Shares for Debt Transaction, with units of the Company to be issued comprised of one common share and one common share purchase warrant at a price per common share of $0.03, with each warrant exercisable for 24 months at a strike price of $0.05 (the “ Private Placement ”, and together with the Shares for Debt Transaction, the “ Transactions ”), for gross proceeds of up to $2 million. The net proceeds from the Private Placement will be used for working capital and general corporate purposes. If the maximum of $2 million is raised, an aggregate of 66,666,666 common shares and 66,666,666 warrants will be issued on closing the Private Placement. The Company also announces a plan to proceed with a consolidation of its issued and outstanding common shares on the basis of six (6) pre-consolidation shares for each one (1) post-consolidation share (the “ Consolidation ”). The Company believes that the Consolidation is in the best interests of shareholders as it will allow the Company to complete the Transactions in accordance with abiding by TSXV policies as well as enhance the marketability of the common shares. Accordingly, the Company plans to hold a special meeting of shareholders on or around the beginning of March 2025, prior to which time an information circular will be sent to shareholders containing additional details pertaining to the Consolidation. No fractional shares will be issued as a result of the Consolidation. Any fractional shares resulting from the Consolidation will be rounded down to the next whole common share. The initial closings of the Transactions are expected to occur on or before December 31, 2024, or such other date as the creditors, investors and the Company may agree upon, and are subject to the completion of formal documentation and the Company receiving all necessary regulatory approvals, including the approval of the TSXV. The securities issued pursuant to the Transactions will be subject to a hold period of four months and one day from the issuance date in accordance with applicable securities laws. Insiders may participate in the Transactions and the participation of insiders will be considered a related party transaction subject to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“ MI 61-101 ”). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(b) and 5.7(1)(a) of MI 61-101 on the basis that no securities of the Company are listed on specified markets and the fair market value of the debt being settled by interested parties does not exceed 25% of the Company’s market capitalization. Additionally, the Company announces that it entered into a promissory note dated September 30, 2024, pursuant to which, Miriam and John Tuerk, directors and officers of the Company, collectively loaned the Company the principal amount of $994,704 (the “ Loan ”). The Loan is repayable on January 1, 2026, without interest. The lenders are control persons and directors and officers of the Company, and accordingly, the Loan constitutes a “related party transaction” pursuant to MI 61-101. The Loan is exempt from the formal valuation and minority shareholder approval requirements of 61-101. The Company is exempt from the formal valuation requirement contain in section 5.5(b) of MI 61-101 as the Company does not have securities listed on a specified stock exchange. The Loan is further exempt from the minority shareholder approval requirement pursuant to section 5.7(1)(a) of MI 61-101 as the fair market value of Loan is less than 25% of the Company’s market capitalization. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", as such term is defined in Regulation S promulgated 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. For more information, contact: Miriam Tuerk, Co-Founder and CEO +1 416 433 3952 investors@clearbluetechnologies.com www.clearbluetechnologies.com/en/investors About Clear Blue Technologies International Clear Blue Technologies International, the Smart Off-GridTM company, was founded on a vision of delivering clean, managed, “wireless power” to meet the global need for reliable, low-cost, solar and hybrid power for lighting, telecom, security, Internet of Things devices, and other mission-critical systems. Today, Clear Blue has thousands of systems under management across 37 countries, including the U.S. and Canada. (TSXV: CBLU) (FRA: 0YA) (OTCQB: CBUTF) Legal Disclaimer Neither 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. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated 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. Forward-Looking Statement This press release contains certain "forward-looking information" and/or "forward-looking statements" within the meaning of applicable securities laws. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Clear Blue’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Clear Blue's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "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 may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information contained herein may include, but is not limited to, information concerning the Company's current and future financial position. By identifying such information and statements in this manner, Clear Blue is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Clear Blue to be materially different from those expressed or implied by such information and statements. An investment in securities of Clear Blue is speculative and subject to several risks including, without limitation, the risks discussed under the heading "Risk Factors" in Clear Blue's listing application dated July 12, 2018. Although Clear Blue has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. In connection with the forward-looking information and forward-looking statements contained in this press release, Clear Blue has made certain assumptions. Although Clear Blue believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release. All subsequent written and oral forward- looking information and statements attributable to Clear Blue or persons acting on its behalf is expressly qualified in its entirety by this notice. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated 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.