Connect with us

/home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153
">
Warning: Undefined array key 0 in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153

Warning: Attempt to read property "cat_name" on null in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 153

Front Yard Residential Announces Board Refreshment and a Review of Strategic Alternatives

Published

on

Reading Time: 6 minutes

Forms Board Committee of Independent Directors to Explore Strategic
Alternatives and Retains Independent Financial Advisor to Support Process

Agrees to Appoint Leland Abrams and Lazar Nikolic, Who Possess Strong
Single-Family Market Experience and REIT Expertise, as Independent
Directors Immediately Following 2019 Annual Meeting

CHRISTIANSTED, U.S. Virgin Islands–(BUSINESS WIRE)–Front Yard Residential Corporation (“Front Yard” or the “Company”)
(NYSE: RESI) today announced several new strategic initiatives that it
believes will position Front Yard for ongoing success and support its
efforts to maximize value for all stockholders. In conjunction with
these new initiatives, Front Yard announced it has reached an agreement
with Snow Park Capital Partners and certain of its affiliates
(collectively “Snow Park”) with respect to its director nominees and
certain other matters.

Board Refreshment

Advertisement
Stake.com

Front Yard has agreed to appoint two new independent directors, Leland
Abrams and Lazar Nikolic, to the Company’s Board of Directors (the
“Board”) immediately following the Company’s Annual Meeting of
Stockholders on May 23, 2019 (the “Annual Meeting”). Concurrently, David
B. Reiner will be retiring from the Board. With these changes, Front
Yard’s Board will increase from seven to eight directors, seven of whom
are independent. Snow Park has agreed to vote for Front Yard’s entire
slate of director nominees at the Company’s upcoming annual meeting and
to withdraw its proxy contest.

Formation of Board Committee to Explore Strategic Alternatives

Front Yard has been executing on a strategy to unlock what we believe is
imbedded value in our assets and platform. Despite these efforts, Front
Yard does not believe its current share price accurately reflects the
value of the company. To maximize value for shareholders, Front Yard
also announced that the Board will form a committee, comprised of
independent directors, including one of Mr. Abrams or Mr. Nikolic (the
“Committee”), to explore strategic alternatives. The Committee intends
to review strategic alternatives available to Front Yard, including,
without limitation, the potential internalization of the asset
management function, the potential termination of the asset management
agreement with Altisource Asset Management Corporation and the potential
sale of the Company. Deutsche Bank Securities Inc. has been retained as
an independent financial advisor to assist in the exploration of a full
range of strategic alternatives. Front Yard intends to update its
stockholders on further developments after the Committee concludes its
review of strategic alternatives, or it has otherwise determined that
disclosure is appropriate.

Agreement with Snow Park

As described in more detail in Front Yard’s Current Report on Form 8-K
to be filed today with the Securities and Exchange Commission, Front
Yard entered into an agreement with Snow Park that provides for the
appointment of Messrs. Abrams and Nikolic to the Front Yard Board, Snow
Park’s withdrawal from the proxy contest and Snow Park’s agreement to
customary standstill provisions, among other items.

Advertisement
Stake.com

George Ellison, Front Yard’s Chief Executive Officer, stated: “These
initiatives are the result of constructive dialogue between the Company
and its stockholders. We welcome Leland and Lazar to the Board and look
forward to working with them to achieve our goals. Our new directors
bring additional experience, independence and fresh perspectives, which
we expect will help Front Yard deliver superior stockholder returns.”

Rochelle Dobbs, Chair of Front Yard’s Board said, “The Front Yard Board
is focused on continuing to execute on our strategy, reviewing all
strategic alternatives and driving stockholder value. We are pleased to
add Leland and Lazar to our other experienced and highly qualified
nominees. We will work together to drive sustainable growth and enhance
value for all Front Yard stockholders. Additionally, we thank David for
his outstanding service and significant contributions to the Company and
wish him well in his future endeavors.”

Jeffrey Pierce, Managing Partner of Snow Park, added: “Our recent
discussions with the Board have been positive and productive. Snow Park
is pleased that Leland and Lazar will be able to add their strong
single-family market experience and valuable REIT insights to the Front
Yard Board. As the Board carries out its assessment of strategic
alternatives, we believe the addition of new directors and fresh
perspectives will enhance efforts to maximize stockholder value.”

Director Biographies

Leland Abrams

Advertisement
Stake.com

Leland Abrams, age 36, has served as a Fund Manager at Wynkoop, LLC
(“Wynkoop”), an investment fund manager, since September 2016. Mr.
Abrams has played an active role in supporting his firm’s efforts in the
single-family residential market, including with respect to portfolio
management and transactions. Prior to joining Wynkoop, Mr. Abrams was a
RMBS Sector Manager for Candlewood Investment Group, LP, an alternative
asset management firm focused primarily on credit opportunities where he
was responsible for overseeing approximately half of its structured
credit investments, from November 2010 until April 2016. From 2008 until
2010, Mr. Abrams was a structured mortgage and esoteric ABS trader and
credit analyst at United Capital Markets, Inc., a secondary market maker
concentrating on asset backed and mortgage backed securities. Mr.
Abrams’ RMBS experience afforded him the opportunity to develop unique
insight into the fundamentals and operating realities of the
single-family market. Prior to that, Mr. Abrams was a credit analyst and
trader on the proprietary credit trading desk at Dresdner Bank, A.G., a
mid-size investment banking firm offering brokerage services and
investment products, from 2005 until 2008. Mr. Abrams holds a B.A. in
Economics from Bucknell University.

Lazar Nikolic

Lazar Nikolic, age 39, is the founder and has served as managing member
of both JPL Advisors LLC and JPL Management Services LLC, which are
providers of investment management services to private funds, since
January 2016. He also previously founded and ran MVC Real Estate, a
single-family residential market investment vehicle that acquired and
managed rentals in one the country’s largest home markets, from 2013 to
2019. Mr. Nikolic’s current responsibilities at JPL include portfolio
management, investment analysis and risk management, and he currently
focuses on RMBS, structured credit, m-REITs, e-REITs, closed-end funds,
specialty finance companies and special situations. From September 2009
until December 2015, Mr. Nikolic was a portfolio manager at Adler & Co.,
a family office. Prior to that, Mr. Nikolic was a hedge fund analyst at
Alpha Beta Capital Management LLC, an investment advisor, from 2007
until 2009. Previously, Mr. Nikolic served as a software engineer at
Bloomberg L.P., a privately held financial, software, data and media
company, from 2003 until 2007. Mr. Nikolic holds an M.S. in Math-Finance
from New York University’s Courant Institute as well as a B.S. in both
Mathematics and Computer Science from Lafayette College.

About Front Yard

Front Yard is an industry leader in providing quality, affordable rental
homes to America’s families. Our homes offer exceptional value in a
variety of suburban communities that have easy accessibility to
metropolitan areas. Front Yard’s tenants enjoy the space and comfort
that is unique to single-family housing, at reasonable prices. Our
mission is to provide our tenants with houses they are proud to call
home. Additional information is available at www.frontyardresidential.com.

Advertisement
Stake.com

About Snow Park

Snow Park Capital Partners, LP is a privately-held investment manager
that specializes in investing in publicly-traded real estate securities
across the capital structure. Based in New York City and founded by
Jeffrey Pierce, the firm focuses on producing strong risk-adjusted
returns for a diverse investor base of public institutions, private
entities and qualified individual clients.

Forward-Looking Statements

The information in this press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended, regarding management’s beliefs, estimates,
projections, anticipations and assumptions with respect to, among other
things, the Company’s financial results, future operations, business
plans and investment strategies, industry and market conditions and the
future composition of the Company’s Board. These statements may be
identified by words such as “anticipate,” “intend,” “expect,” “may,”
“could,” “should,” “would,” “plan,” “estimate,” “target,” “seek,”
“believe” and other expressions or words of similar meaning. We caution
that forward-looking statements are qualified by the existence of
certain risks and uncertainties that could cause actual results and
events to differ materially from what is contemplated by the
forward-looking statements. Factors that could cause our actual results
to differ materially from these forward-looking statements may include,
without limitation, our ability to implement our business strategy; our
ability to make distributions to stockholders; our ability to acquire
SFR assets for our portfolio, including difficulties in identifying
assets to acquire; the impact of changes to the supply of, value of and
the returns on SFR assets; our ability to successfully integrate newly
acquired properties into our portfolio of SFR properties; our ability to
successfully operate our internal property manager and perform property
management services for our SFR assets at the standard and/or the cost
that we anticipate; our ability to transition property management for
the SFR properties currently managed by third party property managers to
our internal property management platform; our ability to predict our
costs; our ability to effectively compete with our competitors; our
ability to apply the proceeds from financing activities or non-rental
real estate owned asset sales to target SFR assets in a timely manner;
our ability to sell non-rental real estate owned properties on favorable
terms and on a timely basis or at all; the failure to identify
unforeseen expenses or material liabilities associated with asset
acquisitions through the due diligence process prior to such
acquisitions; changes in the market value of our SFR properties and real
estate owned; changes in interest rates; our ability to obtain and
access financing arrangements on favorable terms or at all; our ability
to maintain adequate liquidity; our ability to retain our engagement of
Altisource Asset Management Corporation; the failure of our third party
vendors to effectively perform their obligations under their respective
agreements with us; our failure to maintain our qualification as a REIT;
our failure to maintain our exemption from registration under the
Investment Company Act; the impact of adverse real estate, mortgage or
housing markets; the impact of adverse legislative, regulatory or tax
changes; and other risks and uncertainties detailed in the “Risk
Factors” and other sections described from time to time in our current
and future filings with the Securities and Exchange Commission. In
addition, financial risks such as liquidity, interest rate and credit
risks could influence future results. The foregoing list of factors
should not be construed as exhaustive.

The statements made in this press release are current as of the date of
this press release only. The Company undertakes no obligation to
publicly update or revise any forward-looking statements or any other
information contained herein, whether as a result of new information,
future events or otherwise, except as required by law.

Advertisement
Stake.com

Contacts

Investors:
Robin N. Lowe
Chief Financial Officer
(345)
815-9919
[email protected]

Media
(for Front Yard):
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter
& Co.
(212) 257-4170
[email protected]

Media
(for Snow Park):
Profile
Greg Marose/Charlotte Kiaie
(347)
343-2999
[email protected]

Advertisement
Stake.com

Warning: Undefined array key 0 in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 493

Warning: Attempt to read property "cat_ID" on null in /home/grassnews/public_html/wp-content/themes/zox-news/parts/post-single.php on line 493

Cannabis

Rodedawg (OTC: RWGI) Launches TikTok Shop to Expand into Global E-Commerce Market

Published

on

Continue Reading

Billion

Industrial Hemp Market Soars from $6.6 Billion to $25.7 Billion by 2034, Fueled by Sustainable Innovation

Published

on

industrial-hemp-market-soars-from-$66-billion-to-$25.7-billion-by-2034,-fueled-by-sustainable-innovation

Industrial Hemp Playing Key Role in Carbon Sequestration and Soil Remediation Aligning with Sustainable Farming Practices

ROCKVILLE, Md., June 12, 2024 /PRNewswire/ — Based on a new research report by Fact.MR, worldwide sales of Industrial Hemp Market are estimated to reach US$ 6.6 billion in 2024. By 2034, this market is anticipated to skyrocket to a staggering US$ 25.7 billion, driven by a steady CAGR of 14.5% from 2024 onward.

Demand for industrial hemp is skyrocketing as more and more industries recognize its versatile and sustainable properties. Once overlooked, this remarkable crop is now being embraced for its myriad uses across various sectors. From textiles and construction materials to biofuels and nutritional supplements, hemp’s applications are seemingly endless.

Environmentally conscious consumers are driving much of this demand, as hemp requires minimal pesticides and herbicides, making it an eco-friendly choice for sustainable farming. Its ability to sequester carbon dioxide and remediate contaminated soil further adds to its appeal. Moreover, hemp’s durability, lightweight nature, and renewable qualities make it an attractive alternative to traditional materials in manufacturing.

Request a Sample of this Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=3989

Advertisement
Stake.com

As awareness of hemp’s benefits continues to spread, industries are investing in research and development to unlock its full potential. With its multi-faceted applications and sustainable credentials, industrial hemp is poised to become a cornerstone of the green economy, meeting the growing demand for environmentally responsible products and practices.

Key Takeaways from the Market Study:

  • Based on nature, sales of organic hemp are estimated to reach a valuation of $3.2 billion in 2024.
  • The market in Mexico is evaluated to expand at a CAGR of 13.6% from 2024 to 2034.
  • Revenue from sales of industrial hemp in East Asia is projected to reach $5.9 billion by the end of 2034.
  • The South Korean market is evaluated to reach a valuation of $1.4 billion by the end of 2034.
  • North America is analyzed to hold a global market share of 24.3% by 2034.

“Use of industrial hemp in textiles, medicines, and food, coupled with global sustainability trends, is creating opportunities for suppliers. Governments worldwide are collaborating to boost global hemp distribution,” says a Fact.MR analyst.

Increasing Awareness of Therapeutic Potential of Hemp in Medical Applications

Once relegated to the fringes, industrial hemp is rapidly emerging as a sustainable wonder crop, fueling a wave of cutting-edge innovations across diverse industries. As researchers and entrepreneurs unlock its vast potential, hemp is proving to be a versatile and eco-friendly resource, paving the way for exciting new products and applications.

The automotive industry is also exploring the use of hemp fibers as a reinforcement material for lighter, stronger, and more sustainable car parts. These natural fiber composites could reduce vehicle weight, improving fuel efficiency and reducing emissions.

Advertisement
Stake.com

In the field of biotechnology, scientists are harnessing the unique properties of hemp to develop innovative products. For instance, researchers are exploring the use of hemp-derived compounds, such as cannabidiol (CBD), for their potential therapeutic applications in various medical conditions.

Japan’s Industrial Hemp Market Poised for Rapid Growth

The industrial hemp market in Japan is projected to grow at a compound annual growth rate (CAGR) of 15.1% from 2024 to 2034, with the country expected to hold a 29.4% market share by the end of the period.

Increased investment in research is crucial for unlocking the full potential of industrial hemp. Research efforts may focus on improving hemp genetics for higher yield and quality, optimizing cultivation practices, and exploring innovative applications such as advanced nanomaterials or pharmaceuticals. This investment fosters innovation and establishes a foundation for the hemp industry’s long-term growth and competitiveness in an ever-evolving market.

Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=3989

Advertisement
Stake.com

Expanding Opportunities in the United States Industrial Hemp Market

The industrial hemp market in the United States offers abundant opportunities for stakeholders to broaden their product portfolios. Beyond traditional uses like textiles and oils, there is significant potential for hemp-based products to evolve into biodegradable polymers, eco-friendly packaging, and even biofuels. This diversification, a prominent trend in the industrial hemp market, not only targets emerging markets but also positions hemp as a versatile and sustainable resource with applications across various industries.

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the industrial hemp market for 2019 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on nature (organic, conventional), product type (fiber, seeds), and end use (food & beverages, consumer textiles, personal products, industrial applications, hemp CBD, supplements, other consumer products), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).

Advertisement
Stake.com

Check out More Related Studies Published by Fact.MR Research:

Hemp-Based Products Market is expected to reach $1.8 billion in 2023 and jump to a size of $16.2 billion by 2033.

Cannabis Infused Drinks Market is predicted to race ahead and end up at US$ 8.7 billion by 2032.

Ready-to-use Therapeutic Food Market to surge from $459.9M in 2024 to $800.6M by 2034, driven by 5.7% CAGR, marking substantial growth.

Specialty Fat and Oil Market will hit $85.94 billion by 2034 with a 4.6% Annual Growth Rate.

Advertisement
Stake.com

Baking Ingredient Market is set to reach $41.48 billion by 2034, Driven by 6.5% Annual Growth Rate.

Infant Milk Formula Market: From Growth Spurts to Baby Boom – Projected Surge to $22.35 Billion by 2034.

About Us:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.

With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape. 

Advertisement
Stake.com

Contact:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team[email protected]
Follow Us: LinkedIn | Twitter | Blog

 

View original content:https://www.prnewswire.co.uk/news-releases/industrial-hemp-market-soars-from-6-6-billion-to-25-7-billion-by-2034–fueled-by-sustainable-innovation-302170602.html

Continue Reading

Innocan

Innocan Pharma Announces Successful Preliminary Safety Evaluation of LPT-CBD in Minipigs

Published

on

innocan-pharma-announces-successful-preliminary-safety-evaluation-of-lpt-cbd-in-minipigs

HERZLIYA, Israel and CALGARY, AB, June 11, 2024 /PRNewswire/ — Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (“Innocan” or the “Company”), a pioneer in the pharmaceutical and biotechnology industries, is pleased to announce the success and conclusion of a preliminary safety evaluation of Innocan’s single injection and sustained-release LPT-CBD conducted on minipigs. The animals demonstrated excellent drug tolerance and did not exhibit any drug-related adverse events.

 

 

Recognized by the FDA as an excellent model for toxicology, small breeds of miniature domestic pigs known as minipigs share strong similarities with humans in crucial aspects such as drug metabolism, skin structure, genetics, and physiological mechanisms. In this preliminary safety study, minipigs received a single subcutaneous injection of LPT-CBD and were closely monitored for pharmacokinetics and basic safety parameters over one month. Encouragingly, the animals all exhibited good drug tolerance and did not manifest any drug-related adverse reactions.

“We are thrilled with these findings, which further underpin the safety profile of LPT-CBD following a single injection,” commented Dr. Eyal Kalo, the R&D Director of Innocan Pharma. “With each new data point collected for LPT-CBD, we make significant strides in our quest to revolutionize patient care through sustained-release therapy. Our efforts to continuously gather data to fully characterize LPT-CBD are paramount in our journey towards its ultimate approval.”

Advertisement
Stake.com

Professor Chezy Barenholz the CSO of Innocan Pharma added, “These results are immensely gratifying and hold significant promise as they highlight the characteristics of LPT-CBD in a physiological setting similar to humans.”

The study involved administering three ascending doses of LPT-CBD via subcutaneous injection in minipigs, followed by comprehensive monitoring of pharmacokinetics and safety parameters for 28 days. Throughout the study, the minipigs demonstrated excellent drug tolerance, as evidenced by blood clinical parameters whithin normal range, healthy appetite, and normal behavior. These findings are consistent with prior safety evaluations conducted with LPT-CBD on diverse animal models including goats and dogs, affirming the drug’s favorable tolerability profile following both single and repeated use.

Grant of Restricted Share Units                                                                                                 

The Company has granted an aggregate of 290,000 restricted share units (each, an “RSU“) to consultants. Each RSU entitles the recipient to receive one common share of the Company (a “Common Share“) on vesting. A total of 150,000 RSUs vest on May 30, 2024, and 140,000 RSUs vest on September 30, 2024. The RSUs and the underlying Common Shares are subject to a statutory hold period of four months and one day expiring on October 1, 2024.

Innocan also announces that it granted 2,380,000 stock options to employees and consultants to the Company. These options have a strike price of $0.28, with various vesting periods up to 12 months. All options expire on May 30, 2029.

Advertisement
Stake.com

About Innocan Pharma:

Innocan is a pharmaceutical tech company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies comprises with cannabinoids science, to treat various conditions to improve patients’ quality of life. This segment involves two drug delivery technologies: (i) LPT CBD-loaded liposome platform facilitating exact dosing and the prolonged and controlled release of CBD into the blood stream. The LPT delivery platform research is in the preclinical trial phase for two indications: Epilepsy and Pain Management. In the Consumer Wellness segment, Innocan develops and markets a wide portfolio of innovative and high-performance self-care products to promote a healthier lifestyle. Under this segment Innocan has established a Joint Venture by the name of BI Sky Global Ltd. that focuses developing on advanced targeted online sales. https://innocanpharma.com/

Contact Information:

For Innocan Pharma Corporation:
Iris Bincovich, CEO
+1 5162104025
+972-54-3012842
+442037699377
[email protected] 

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Advertisement
Stake.com

Caution Regarding Forward-Looking Information

Certain information set forth in this news release, including, without limitation, the Company’s plans for human trials of its LPT-CBD platform, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan’s control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of production and distribution arrangements.

Forward-looking information is subject to various risks and uncertainties that could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: global and local (national) economic, political, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and potential disruption of relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import/export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner). The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release. A comprehensive discussion of other risks that impact Innocan can be found in Innocan’s public reports and filings which are available under Innocan’s profile at www.sedarplus.ca.

Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.

Logo: https://mma.prnewswire.com/media/2046271/3968398/Innocan_Pharma_Corporation_Logo.jpg

Advertisement
Stake.com

Cision View original content:https://www.prnewswire.co.uk/news-releases/innocan-pharma-announces-successful-preliminary-safety-evaluation-of-lpt-cbd-in-minipigs-302169232.html

Continue Reading
Advertisement
Stake.com

Latest news

Trending on Grassnews

GrassNews.net: Your premier portal for the latest developments in the cannabis industry. We provide timely news, insightful analysis, and in-depth features on everything from legislation changes and business trends, to scientific research and lifestyle topics. Stay informed and navigate the rapidly evolving cannabis landscape with GrassNews.net..

Contact us: [email protected]

Editorial / PR Submissions

Copyright © 2007 - 2024 Hipther Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania