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TIBA Parking Introduces the “Engaged Parking Experience” New Product Suite, Transforming and Modernizing Off-Street Parking Operations

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COLUMBUS, Ohio–(BUSINESS WIRE)–#PARCS–In response to parking operators’ and owners’ demands to modernize their
operations, increase revenue and profitability, and a global shift
towards increased security initiatives, TIBA is launching its new
“Engaged Parking Experience” product suite and will display it at the
IPMI Conference & Expo. The new product suite includes new lane and
payment equipment, cloud solutions for PARCS management, a new
mobile-based platform for digital operators, and a cross-brand parking
intelligence service. The suite allows operators to reduce overall
operational costs, increase efficiency, simplify installation and
serviceability, and increase security of systems.

TIBA’s new X60 hardware family, to be unveiled at IPMI, is a key part of
the Engaged Parking Experience. Designed around a completely new, modern
parking-specific processor, the new hardware is highly secure,
exceptionally fast, flexible, and includes the largest transaction
storage volume. The X60 uses native TCP/IP communication, but can also
support Rs485 protocol allowing a complete mix-and-match solution
between TIBA’s current hardware line and the new hardware family,
protecting TIBA’s customers’ investment in lane equipment. The
extra-large touch screen allows a more sophisticated user interaction
with dynamic rate displays, multiple payment options and a personalized
experience. The X60 also provides a ticketless, frictionless experience
but has the capacity to hold the largest ticket roll in the industry. A
built-in pin-hole camera and VoIP intercom complete the engaged
experience.

TIBA’s PARCS management software can be operated both in the cloud as
well as installed in a traditional on-premise server. TIBA is also
adding a new SPARK layer, on top of the SmartPark management software,
allowing operators to centrally manage all their devices from the cloud
and receive prioritized alerts to a central control room. The wealth of
capabilities that was built by TIBA in its 30 years of experience in
parking is maintained in the new products, but is now available for both
the on-premise implementation and in a cloud environment.

TIBA will also be launching ParkBlue, a mobile based digital operator
platform that allows owners and operators to launch mobile parking
services to monthly parkers and transient drivers. ParkBlue features a
complete mobile app for both iOS and Android that allows drivers to
register to the digital parking service, insert their payment details,
and locate, select and navigate to their preferred parking facility.
Using the app and the mobile phone Bluetooth functionality, drivers can
enter and exit facilities, and pay through the app. Behind the scenes, a
complete digital PARCS back-end cloud platform manages the IoT Bluetooth
devices that can be installed on any gate, regardless of the PARCS
technology in the facility. The cloud platform also manages prices,
provides parking analytics and intelligence, and manages registered
drivers and payments.

The complete Engaged Parking Experience includes TIBA’s Parking
Intelligence (PI) Cloud Service. Designed specifically for parking, this
advanced module automatically aggregates data from multiple PARCS
facilities and presents actionable analysis to facility managers. Using
intuitive visualization of both real-time and historical data, for
occupancy, revenue, and drivers’ behavior, PI can identify trends and
inefficiencies in parking operations.

“As parking operators and drivers enter the new age of cloud computing
and connected cars, they expect new systems to fulfill new requirements
without having to massively replace the existing install base. TIBA has
taken this into consideration and provides, inherently, a mix-and-match
solution where equipment from different generations, along with Parking
Intelligence, enables operators to go digital. This allows our operators
to safely transition to the newest generation and benefit from the new
engaged parking experience,” said Moshe David, CEO of TIBA. “We want our
customers to have it all, at a decent price, with a personal touch, and
without losing the 30+ years of experience and know-how we have put into
our systems.”

“We are excited for the opportunity to expose TIBA’s new technology to
our customers,” said Chris Archer, CEO of Associated Time & Parking
Controls. “As a Value-Added Reseller, we have been asked by our
customers to provide cross-platform solutions that allow operators to
engage their drivers, use business intelligence to improve their
experience and ultimately increase revenues and profitability. Only TIBA
has the right set of tools to support these initiatives today and in the
future!”

About TIBA Parking Systems: For 30 years, TIBA has provided
innovative solutions for the parking market, resulting in reliable,
user-friendly products that lower the price of initial acquisition and
the cost of ongoing maintenance. TIBA has successfully implemented this
through a focus on software development, while continuing to enhance and
support its reliable hardware platforms. This allows owners to keep the
capital investment down while still enjoying the latest software
functionality. With extensive global experience, TIBA’s robust, scalable
architecture enables parking operators to keep pace with the latest
trends in centralized operations, automated smart facilities, web
reservations and mobile payments. TIBA’s flexible software grants
parking operators to be IoT-connected and leverage big data to increase
revenue. TIBA’s agile integrations with third party systems empower
parking operators to be an integral part of the growing Smart Cities
ecosystem.

TIBA serves parking operators and owners globally, across diverse
industries such as hotels & hospitality, airports, universities,
shopping centers, hospitals & medical centers, and local, state &
federal governments. For more information about TIBA Parking Systems,
visit www.tibaparking.com.

Contacts

Sarah Kahler | Marketing Manager
Sarah.Kahler@tibaparking.com
www.tibaparking.com

Cannabis

Valens expands Exclusive Licence Agreement to Bring Leading Cannabis-Infusion Technology to New International Markets

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Valens GroWorks Corp. (TSXV: VGW) (OTCQX: VGWCF) (the “Company” or “Valens“), a cannabinoid-based product company with industry leading extraction, next generation cannabinoid delivery formats and an ISO 17025 accredited analytical lab, is pleased to announce that it has entered an amended manufacturing and sales licence agreement with SōRSE Technology Corporation (“SōRSE“) which grants Valens an exclusive licence for CanadaEuropeAustralia and Mexico to use the proprietary SōRSE emulsion technology (“the Technology“) to produce, market, package, sell and distribute cannabis-infused products (the “Agreement“).

“This Agreement shows Valens’ commitment to invest and broaden its IP portfolio and enable its customers to bring differentiated, next generation products to market,” said Jeff Fallows, President of Valens. “As we move into “Cannabis 2.0” in Canada, we believe the products that offer consistent, high quality and predictable user experiences, like those we are able to create with SōRSE, will capture the lion’s share of attention and be the hallmark for brand development in a strict regulatory environment. With this expanded agreement in place, we have extended this opportunity for our existing customers to key international markets and at the same time established a platform for international consumer brands to add high quality, cannabis infused products to their portfolios.”

The SōRSE Emulsion Technology

The SōRSE emulsion technology transforms cannabis oil into water-soluble forms for use in beverages, edibles, topicals and other consumer products without the burden of cannabis taste, colour or smell. The Technology allows these cannabis infused products to maintain potency when heated, chilled or frozen and provides a number of other key advantages as well, including: (1) a faster observed onset time compared to other infused beverages and edibles, (2) a significant reduction of offset time, (3) an ability to use lower doses of cannabinoids due to the enhanced bioavailability provided by the Technology, and (4) increased consistency and stability with some product formulations achieving more than one-year shelf stability with no evidence of separation.

“We are proud to expand our partnership with Valens and leverage their near-term access to various global markets,” says Howard Lee, CEO of SōRSE. “Over the last year, our team of more than 40 plus professionals has continued to actively focus on creating and developing innovative, desirable products and formats of consumption for cannabis consumers. As emulsion technology becomes more popular through new delivery methods such as ingestion, transdermal, topical and more, it is imperative that quality and safety in consumption leads all innovation in this sector. This is a shared value and mandate that our teams at SōRSE and Valens both prioritize. We look forward to continuing this working relationship with Valens and introducing our award-winning emulsion technology to the global markets.”

Geographic Expansion

The Agreement grants Valens an exclusive licence to use the Technology in CanadaEuropeAustralia and Mexico (except in respect of medical applications requiring clinical trials) during the initial 5-year term, subject to certain performance milestones. This increases the addressable market from 37 million in the current Canada only agreement to 700 million people in the new Agreement, an increase of almost 20x. Furthermore, the Agreement provides a framework for Valens to obtain rights to establish non-exclusive agreements to sell cannabis-infused products using the Technology in the U.S. market and other markets, globally.

Bolstering “Cannabis 2.0” Platform

With the expanded exclusivity, Valens and its white label clients are positioned to not only succeed in the Canadian market, but also in the rapidly emerging legal cannabis and hemp-derived CBD markets in EuropeAustraliaMexico and beyond. The Agreement adds to the Company’s leading white label product offerings across numerous “Cannabis 2.0” categories such as beverages, edibles, transdermal products and more, enabling Valens to better serve its current and future partners.

“We have seen incredible interest from our current and potential clients regarding the SōRSE emulsion technology and we are thrilled to finalize the expanded licence agreement with SōRSE,” said Tyler Robson, CEO of Valens. “We expect the expanded exclusive territory will provide our clients with improved visibility and greater opportunity as they look to build global businesses around cannabis-infused products over the long term.

This is an exciting time in the evolution of ingestible cannabis products such as beverages and edibles. Historically, ingestible products have been lacking the necessary technology to provide a consistent, predictable experience, ultimately giving little reason to consume in this manner. At Valens, we expect that properly formulated, extract-based cannabis products, and infused beverages in particular, could disrupt many established beverage categories such as soft drinks, sports drinks, value-added water and alcohol, the latter of which has a monthly spend per capita that is roughly 16 times higher compared to legal cannabis spend in Canada. We believe the ability to plan an occasion and predict the outcome of use will be a game changer in the market and be the catalyst to bring about the full market potential of cannabis infused beverages and edibles, globally.”

Future White Label Services

The Agreement furthers the existing relationship between Valens and SōRSE and enables Valens to produce and sell SōRSE’s portfolio of branded products in Canada and the other exclusive markets at the option of the Company. These branded products include Happy Apple, a cannabis-infused sparkling cider and Major, a cannabis-infused fruit drink, both recognized as top selling cannabis beverages in the State of Washington, Pearl20, a cannabis-infused food and beverage mixer, and the Utopia line of cannabis-infused sparkling water, among others.

Agreement Summary

The consideration at closing for the exclusivity in the expanded geography was US$10 million, comprised of US$6 million in cash and US$4 million to be issued in common shares of the Company (the “Common Shares“). The Agreement carries an initial 5-year exclusive term with a 2-year renewal of the exclusivity, subject to certain performance milestones related to operational and financial achievements (the “Milestones“). As part of the Agreement, Valens will transfer to SōRSE royalty payments calculated as a percentage of sales (the “Royalty Payments“) and the Royalty Payments will be subject to an annual minimum of $2 million over the 5-year term. The Agreement also provides for a continuation of the Agreement on a non-exclusive basis after the 2-year renewal, subject to annual minimum royalty payments.

All Common Shares pursuant to the Agreement were issued at an indicative price of CDN$3.0471, being the volume-weighted average price of the Common Shares on the TSX Venture Exchange (“TSXV“) for the ten (10) trading days ending December 9, 2019. The Agreement remains subject to approval from the TSXV. All Common Shares issued in connection with the Agreement will be subject to a restricted period of four months and one day. There are no finders’ fees payable by the Company in connection with the Agreement.

 

SOURCE Valens GroWorks Corp.

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Cannabis

Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Energy Transfer LP, Grubhub, Aurora Cannabis, and The RealReal and Encourages Investors to Contact the Firm

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Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, reminds investors that class action lawsuits have been commenced on behalf of stockholders of  Energy Transfer LP (NYSE: ET), Grubhub, Inc. (NYSE: GRUB), Aurora Cannabis, Inc. (NYSE: ACB), and The RealReal, Inc. (NASDAQ: REAL). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

Energy Transfer LP (NYSE: ET)

Class Period: February 25, 2017 to November 11, 2019

Lead Plaintiff Deadline: January 20, 2020

On November 12, 2019, the Associated Press reported that Energy Transfer’s Mariner East pipeline project was under investigation by the Federal Bureau of Investigation (“FBI”). Citing interviews with current and former state employees, the Associated Press reported that the FBI’s investigation “involves the permitting of the pipeline, whether [Pennsylvania Governor Tom] Wolf and his administration forced environmental protection staff to approve construction permits and whether Wolf or his administration received anything in return.”

On this news, Energy Transfer’s stock price fell $0.81 per share, or 6.77%, over the following two trading sessions, closing at $11.16 per share on November 13, 2019.

The complaint, filed on November 20, 2019, alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) Energy Transfer’s permits to conduct the Mariner East pipeline project in Pennsylvania were secured via bribery and/or other improper conduct; (ii) the foregoing misconduct increased the risk that the Company and/or certain of its employees would be subject to government and/or regulatory action; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

 

SOURCE Bragar Eagel & Squire, P.C.

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Cannabis

iX Biopharma secures Australian cannabis manufacture licence

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Specialty pharmaceutical company iX Biopharma Ltd (SGX:42C) (“iX Biopharma” or, together with its subsidiaries, “the Group”) is pleased to announce today that its wholly-owned subsidiary, iX Syrinx (“Syrinx”), has been awarded a cannabis manufacture license from the Australian Office of Drug Control under the Narcotics Drugs Act 1967. Under the said licence, the Group is permitted to manufacture and supply extracts and tinctures of cannabis and cannabis resins.

This marks a significant milestone for the Group. Syrinx operates a TGA cGMP certified facility and holds import and export licences for cannabis and State poisons licences; together with the newly granted cannabis manufacture licence, the Group is now able to fully participate in the global medicinal cannabis business.

Importantly, the Group will be able to manufacture and distribute its newly formulated Xativa™ sublingual cannabis wafers in Australia through the Australian Special Access Scheme and in overseas markets. Xativa™ leverages on iX Biopharma’s novel and patented WaferiX™ technology to improve the speed and level of absorption and predictability of effect of medicinal cannabis. Xativa™ provides patients with a more elegant and discreet way to consume medicinal cannabis compared to existing dosage forms for cannabis such as joints, vapes and tinctures, and hence offers a superior user experience. The Group has received feedback from physicians in Australia that the advantages of Xativa™ and its differentiation from the rest of the market offerings are clear and highly desired.

Produced via iX Biopharma’s proprietary freeze-drying technique, the porous and amorphous WaferiX™ matrix holding the active CBD molecules is designed to collapse quickly within the sublingual space. The actives are then transported rapidly across the sublingual membrane into the blood vessels for a rapid onset of action.

“Globally, the use of cannabis for the treatment of a wide range of medical conditions has been growing at an exponential pace. The grant of the cannabis manufacturing licence has come at a most opportune time, allowing us to manufacture, distribute and promote Xativa™ as the gold standard in medicinal cannabis delivery, thereby charting a new growth trajectory for the Group,” said Ms Eva Tan, Director of Corporate and Commercial Strategy of iX Biopharma.

 

SOURCE iX Biopharma Ltd

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