Official R4I http://officialr4i.com/ Fri, 22 Oct 2021 03:42:13 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://officialr4i.com/wp-content/uploads/2021/07/icon-8-70x70.png Official R4I http://officialr4i.com/ 32 32 Green Light Metals Inc.Announces Completion of Asset Purchase Transaction with Aquila Resources Inc. and Closing of Private Placement https://officialr4i.com/green-light-metals-inc-announces-completion-of-asset-purchase-transaction-with-aquila-resources-inc-and-closing-of-private-placement/ https://officialr4i.com/green-light-metals-inc-announces-completion-of-asset-purchase-transaction-with-aquila-resources-inc-and-closing-of-private-placement/#respond Thu, 21 Oct 2021 20:24:47 +0000 https://officialr4i.com/green-light-metals-inc-announces-completion-of-asset-purchase-transaction-with-aquila-resources-inc-and-closing-of-private-placement/

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Toronto, Ontario – (Newsfile Corp. – October 21, 2021) – Green Light Metals Inc. (the “Society“) is pleased to announce that on October 4, 2021 it closed the previously announced transaction (the “Transaction“) to acquire a 100% interest in the Bend and Reef assets located in Wisconsin, United States, from Aquila Resources Inc. (“Aquilas“).

Purchase of Bend and Reef assets

In connection with the Transaction, the total consideration of $ 7,000,000 payable to Aquila consisted of:

  • Initial cash consideration of $ 2.1 million, of which $ 1 million was advanced as a deposit upon execution of the letter of intent regarding the transaction in June 2021 and the remaining $ 1.1 million have been paid at closing; and
  • A non-interest bearing promissory note (“Promissory note“) of the Company in the principal amount of $ 4.9 million. The promissory note will become due and payable by the Company on the earlier of the following dates: (i) December 31, 2022 (the”Due date“); or (ii) immediately before the completion of an initial public offering or other transaction which results in the shares of the Company (or of a successor entity) being listed on the stock exchange as that freely negotiable securities (a “Public transaction“).

If the promissory note becomes due and payable in a public transaction, the promissory note will be settled by way of

  • $ 900,000 in cash; and
  • The issuance of this number of Company shares equal to $ 4 million divided by the price per share at which the Company’s shares are issued in connection with the financing of the public transaction.

If the company does not complete a public transaction by the maturity date, then the promissory note will be satisfied by issuing a number of company shares equal to $ 4.9 million divided by the price per share to which the company issued shares of its most recent financing before the maturity date.

As part of the Transaction, the Company and Aquila also entered into an investor rights agreement under which, among other things, Aquila received the right to participate in future equity financings carried out by the Company as well as the rights of appointment in respect of a member of the board of directors of the Company, in each case provided that Aquila continues to maintain a specified continuing interest in the Company.

Change of officers and directors

In connection with the completion of the Transaction, Stephen Sandusky, Branden Keast, Riley Keast and James Ward have resigned their positions as directors and officers of the Company and have been replaced by the following: (i) Dan Colton – Chief management, president and director; (ii) Bill Johnson – Director; and (iii) Andrew Robert Ware – Director, effective October 4, 2021. Barry Hildred and Stephen Donohue remain directors of the Company. Additionally, as part of a shared services agreement with Aquila, on October 6, 2021, the directors of the Company appointed David Carew as Vice President, Corporate Development and Investor Relations and Corporate Secretary. and Stephanie Malec as Interim Chief Financial Officer.

Private placement

In accordance with the Transaction, the Company is pleased to announce that on September 29, 2021 and October 14, 2021, it closed, without intermediary, a private placement of 7,527,509 ordinary shares in the capital of the Company (“Ordinary actions“) at a purchase price of $ 0.30 per common share for gross proceeds of $ 2,258,252.70 (the”OfferA portion of the net proceeds of the offering was used to pay the cash portion of the purchase price of the transaction.

Finder’s fees of up to 5% in cash have been paid by the Company to certain registrants in connection with the placement. The common shares issued in connection with the placement are subject to a legal hold period of four months plus one day from the date of completion of each closing date of the placement, in accordance with applicable securities legislation.

As part of the closing of the placement, 1,199,150 common shares were subscribed for by related parties of the Company (as that term is defined in National Instrument 61-101 – Protection of holders of minority securities in special transactions (“MI 61-101The participation of related parties in the Offer constitutes a “related party transaction” within the meaning of NI 61-101. The Company avails itself of the exemptions from the formal minority assessment and approval requirements of NI 61-101 based on a determination that the fair market value of the Offer does not exceed $ 2,500,000 and the fact that the Company is not listed on a specified market as set out in section 5.5 (b) of NI 61-101.

For further information relating to the Company, please see the Company’s profile on the SEDAR website at www.sedar.com.

For more information please contact:

Green Light Metals Inc.

Dan Colton
President and CEO, Director
(612) 839-8286
dancolton@greenlightmetals.com

David Carew
Vice-President, Corporate Development and Investor Relations
(416) 786-4867
dave@greenlightmetals.com

Forward-looking information

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “intend”, “may”, “will”, “expect” and similar expressions and statements relating to matters which are not historical facts are intended to identify forward-looking information and is based on current beliefs or assumptions about the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information concerning the main uses of the proceeds of the offering. Various assumptions or factors are generally applied in drawing conclusions or making the forecasts or projections set forth in forward-looking information. These assumptions and factors are based on the information currently available to the Company. Material facts and assumptions include the intended use of proceeds remaining in the best interests of the Company. The Company cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this press release is made as of the date hereof and the Company is not obligated to update or revise the forward-looking information, whether as a result of new information, future events or otherwise, unless required by securities laws. Due to the risks, uncertainties and assumptions contained in this document, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Do not distribute to US Newswire Services or broadcast in the United States. Any breach of this restriction may constitute a violation of United States securities laws.

THE SECURITIES OFFERED HAVE NOT BEEN REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES WITHOUT REGISTRATION OR EXEMPTION FROM REGISTRATION REQUIREMENTS . THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO PURCHASE OR THAT THERE WILL BE NO SALE OF THE SECURITIES IN A STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE ILLEGAL.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100510


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Parson steps up efforts to prosecute journalist who discovered security breach in state site • Missouri Independent https://officialr4i.com/parson-steps-up-efforts-to-prosecute-journalist-who-discovered-security-breach-in-state-site-missouri-independent/ https://officialr4i.com/parson-steps-up-efforts-to-prosecute-journalist-who-discovered-security-breach-in-state-site-missouri-independent/#respond Thu, 21 Oct 2021 12:05:09 +0000 https://officialr4i.com/parson-steps-up-efforts-to-prosecute-journalist-who-discovered-security-breach-in-state-site-missouri-independent/

Governor Mike Parson escalated his war with the St. Louis Post-Dispatch on Wednesday when his political operation posted a video doubling down on his attack on a reporter who informed the state that a state website revealed teachers’ social security numbers.

The video is produced by Uniting Missouri, a political action committee created by Parson supporters to support his 2020 election campaign. The PAC continues to collect and spend large sums of money to promote Parson’s political agenda. It operates without Parson’s direct contribution to its activities.

“The St. Louis Post-Dispatch is outright politics,” reads the ad. “Exploiting personal information is a sordid excuse for journalism. “

The announcement comes less than a week after Parson’s widely criticized demand for a investigation and prosecution of the journalist who discovered the security breach on a state website, as well as “everyone involved.” Parson read a statement calling the reporter a “hacker” to reporters gathered outside his Missouri Capitol office last Thursday, then left without answering questions.

John Hancock, president of Uniting Missouri, declined to discuss details of the video.

The Post-Dispatch did not respond to a call and email on Wednesday requesting a response to the video.

In the incident which enraged Parson, a Post-Dispatch reporter discovered that the social security numbers of teachers, administrators and counselors were visible in the HTML code of a publicly accessible site operated by the Department of Education. state education. The HTML code is programming that tells the computer how to display a web page.

The newspaper informed of the status of the problem and promised not to publish any articles until the problem was resolved.

“We stand behind our reporting and our reporter who did everything right,” said Ian Caso, editor of Post-Dispatch. in an article in his journal. “It is unfortunate that the governor chose to put the blame on the journalists who discovered the website problem and brought it to the attention of DESE.”

Parson said the Missouri State Highway Patrol will investigate and Cole County District Attorney Locke Thompson has been notified.

Thompson said on Wednesday he had not received any investigative reports from the patrol and expected none until the investigation was completed.

I don’t have any sort of timetable as to how long the investigation will take, “he wrote in an email to The Independent.

The patrol did not respond to an email requesting information on the status of the investigation.

$ 50 million in prize money

The video continuing the attack on the Post-Dispatch was posted online as Democrats on the House Budget Committee continued to question Parson’s estimate. that it will take $ 50 million to respond “to this one incident and divert workers and resources from other state agencies.”

The public school and education employee retirement system responded to a different potential data exposure on September 11 by providing the 350,000 members with credit monitoring, identity theft protection, and banking services. a call center through a contract with Experian, according to Dearld Snider, the agency’s executive director.

The cost of this response was just under $ 600,000.

State Representative Peter Merideth, D-St. Louis said the only thing lawmakers were told would come from the $ 50 million cited by Parson in the latest security breach would be credit protection and a call center for around 100,000 educators.

And since there is likely a great overlap between people who have degrees registered with the Department of Education and those who are members of the pension system, Merideth believes the final cost will be far from the $ 50 million figure of By its.

The pension system does not include employees of public schools in St. Louis or Kansas City, and it would only include those employed in private and parish schools if they had previously worked in public education.

“I wouldn’t be surprised if it was less than $ 100,000 for credit monitoring,” Merideth said.

The biggest cost, he said, will be to study the state’s computer systems and upgrade them to provide better service and security.

“It’s not about what the reporter did,” Merideth said, “it’s about the vulnerability and the outdated systems that we have.”

Kelli Jones, spokesperson for the governor, did not respond to requests for information on the cost estimate used by Parson.

The Missouri National Education Association said it is still trying to figure out exactly what happened, both with the data found by the Post-Dispatch and the potential loss of data in the retirement system, the door said. -says Mark Jones.

“It’s important that we take data security as seriously as physical security,” Jones said.

The union did not join Parson’s call to sue the reporter.

“Nothing tells me,” Jones said, “that the reporter did anything other than act ethically within the bounds of good journalism.”


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Championship transfer rumors: Pundit advises Newcastle United to sell former Blackpool lender, Aston Villa become latest Premier League side to oust Potters star https://officialr4i.com/championship-transfer-rumors-pundit-advises-newcastle-united-to-sell-former-blackpool-lender-aston-villa-become-latest-premier-league-side-to-oust-potters-star/ https://officialr4i.com/championship-transfer-rumors-pundit-advises-newcastle-united-to-sell-former-blackpool-lender-aston-villa-become-latest-premier-league-side-to-oust-potters-star/#respond Thu, 21 Oct 2021 08:45:00 +0000 https://officialr4i.com/championship-transfer-rumors-pundit-advises-newcastle-united-to-sell-former-blackpool-lender-aston-villa-become-latest-premier-league-side-to-oust-potters-star/

Blackpool ended up 2-0 after 21 minutes last night but had a brilliant second half comeback that saw Owen Dale and Jerry Yates (2) bring the score to 3-2 at the full-time whistle.

The win means the Seasiders have lost just one of their last five games and now sit 12th – a touching distance from the top six.

Neil Critchley’s side will now face local rivals Preston North End this weekend in their attempt to qualify for the play-offs – Preston currently struggling towards the end of the table with just one win in their last seven league games.

Here are today’s best championship rumors …


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Digital asset developments: U.S. Commodity Futures Trading Commission says tether is a commodity https://officialr4i.com/digital-asset-developments-u-s-commodity-futures-trading-commission-says-tether-is-a-commodity/ https://officialr4i.com/digital-asset-developments-u-s-commodity-futures-trading-commission-says-tether-is-a-commodity/#respond Thu, 21 Oct 2021 01:09:29 +0000 https://officialr4i.com/digital-asset-developments-u-s-commodity-futures-trading-commission-says-tether-is-a-commodity/

20 October 2021

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On Friday, October 15, 2021, the Commodity Futures Trading Commission (CFTC) issued a Tether Order against the issuers of the Tether Token (USDT), a leading stablecoin, and sentenced these issuers to a fine of $ 41 million for making false or misleading statements about maintaining sufficient fiat currency reserves to support each USDT “one to one”.[1] In doing so, the CFTC asserted that USDT is a “commodity” within the meaning of the Commodity Exchange Act (CEA).

The Tether order is important for a few reasons. First, this is the United States’ first coercive action against a major stablecoin. Second, the CFTC has now asserted that it has some enforcement power over stablecoins, just as the Biden administration prepares its regulatory approach to digital currencies in general and stablecoins in particular. Securities and Exchange Commission (SEC) Chairman Gary Gensler said earlier this year that he believed certain stable coins, such as those backed by securities, to be securities,[2] and the president’s financial markets task force will soon release a report on stablecoins.[3] Third, the CFTC’s assertion that USDT is a commodity indicates that stablecoins backed by fiat currency are not securities and therefore are not directly subject to the jurisdiction of the SEC.

CFTC legal authority

Although the CFTC is primarily a regulator of the markets for commodity futures and derivatives such as swaps, it has some executive power over commodities in the spot markets (that is to say, cash products). Section 6 (c) (1) of the Commodity Exchange Act states that it is “unlawful for any person, directly or indirectly, to use or employ, or attempt to use or employ, in as part of an exchange or contract for the sale of any merchandise in interstate commerce,. . . any device or device of manipulation or deception, in violation of the rules and regulations that the Commission will promulgate. “[4] The CFTC has promulgated regulations in accordance with section 6 (c) (1), which make it illegal to make intentional or reckless statements or omissions “in connection with.” . . any contract for the sale of any goods in interstate commerce.[5] When enacting this regulation, the CFTC stated that “[it] wait[ed] exercise authority under paragraph 6 (c) (1) to cover transactions related to futures or swaps, or commodity prices in interstate commerce, or where fraud or manipulation has the potential to ” affect the commodity, futures or spot swap markets or participants in these markets.[6]

Attachment order

Prior to the Tether order, the CFTC had claimed that certain digital assets were commodities.[7] The Tether order definitely declares that USDT is a commodity (and, in dicta, asserts that bitcoin, ether, and litecoin are commodities as well). He then alleges that the issuers of the USDT made material inaccuracies under Article 6 (c) (1) of the CEA and its implementing regulations as to whether the USDT was backed by reserves of currency exchange and whether that reserve would undergo regular professional audits, and issuers made significant omissions regarding the timing of one of the reserve reviews that USDT issuers performed.[8] Without admitting or denying the findings and conclusions of the CFTC, the issuers of the USDT consented to the entry of a cease and desist order and a civil fine of $ 41 million.[9]

Conclusion

The recent past has seen explosive growth in digital asset markets, as regulators around the world seek to catch up. In the United States, the challenge has been, in the absence of new legislation, to ensure that digital asset transactions fit into existing regulatory regimes. Much of the initial regulation was at the state level; most federal financial regulators first attempted to regulate through law enforcement. Now, however, there is the possibility of overlapping federal regulations, especially when it comes to stablecoins. The Tether Order comes at a time when the media has reported that the U.S. Department of the Treasury will be working with U.S. financial regulators to release a general report on stablecoins, including how stablecoins should be regulated. And while the CFTC has taken its position on USDT, it is still unclear how other US regulators will view stablecoins and other digital assets.

_____________________________

[1] In Tether Holdings Limited, Tether Operations Limited, Tether Limited and Tether International Limited, CFTC Docket No. 22-04 (15 Oct 2021), available at https://www.cftc.gov/media/6646/enftetherholdingsorder101521/download.

[2] Gary Gensler, SEC Chairman, “Remarks Before the Aspen Security Forum” (August 3, 2021).

[3] See, for example, Michelle Price, “Explaining: How US Regulators Crack Down on Cryptocurrencies,” Reuters, September 24, 2021.

[4] 7 USC § 9 (1).

[5] 17 CFR § 180.1 (a) (2).

[6] CFTC, Final Rules: Prohibition of the use, or attempted use, of manipulative and deceptive devices and prohibition of price manipulation, 76 Fed. Reg. 41 398, 41 401 (July 14, 2011).

[7] See, for example, In re Coinflip, Inc., CFTC n ° 15-29, 2015 WL 5535736, at * 2 (September 17, 2015) (indicating that bitcoin is correctly defined as a commodity within the meaning of the CEA).

[8] Attachment command at 8-9.

[9] Also on October 15, the CFTC entered into a consent order with Bitfinex, a leading digital currency exchange that has numerous management and operational lockdowns with USD Tether issuers, for allegedly allowing US customers who don’t were not eligible contract participants to engage in leveraged, margin or funded commodity transactions that were not carried out in a designated contract market (that is to say, a futures exchange registered with the CFTC) in violation of CEA requirements, and acting as a futures dealer (FCM) without being registered as such with the CFTC. The CFTC further claimed that Bitfinex violated a 2016 CFTC order that ordered it to cease and desist from such activity. Without admitting or denying the CFTC’s findings and conclusions, Bitfinex consented to the entry of the new cease-and-desist order and a fine of $ 1 million. See In the iFinex Inc. case, BFXNA Inc. and BFXWW Inc., CFTC Docket No. 22-05 (Oct 15, 2021), available at https://www.cftc.gov/media/6651/enfbfxnaincorder101521/download.


The following Gibson Dunn attorneys helped prepare this client update: Arthur Long and Jeffrey Steiner.

Gibson Dunn attorneys are available to answer any questions you may have regarding these developments. Please contact the Gibson Dunn lawyer you normally work with, the author, or any of the following members of the firm’s Financial Institutions practice group:

Matthew L. Biben – New York (+1 212-351-6300, mbiben@gibsondunn.com)
Michael D. Bopp – Washington, DC (+1 202-955-8256, mbopp@gibsondunn.com)
Stéphanie Brooker – Washington, DC (+1 202-887-3502, sbrooker@gibsondunn.com)
Mr. Kendall Day – Washington, DC (+1 202-955-8220, kday@gibsondunn.com)
Mylan L. Denerstein – New York (+1 212-351-3850, mdenerstein@gibsondunn.com)
William R. Hallatt – Hong Kong (+852 2214 3836, whallatt@gibsondunn.com)
Michelle M. Kirschner – London (+44 (0) 20 7071 4212, mkirschner@gibsondunn.com)
Arthur S. Long – New York (+1 212-351-2426, long@gibsondunn.com)
Matthew Nunan – London (+44 (0) 20 7071 4201, mnunan@gibsondunn.com)
Jeffrey L. Steiner – Washington, DC (+1 202-887-3632, jsteiner@gibsondunn.com)

© 2021 Gibson, Dunn & Crutcher srl

Lawyer Advertising: The accompanying documents have been prepared for general information purposes only and are not intended to provide legal advice.


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How to sell a property in a seller’s market https://officialr4i.com/how-to-sell-a-property-in-a-sellers-market/ https://officialr4i.com/how-to-sell-a-property-in-a-sellers-market/#respond Wed, 20 Oct 2021 18:00:43 +0000 https://officialr4i.com/how-to-sell-a-property-in-a-sellers-market/

After all, many market commentators are currently describing the Australian real estate market as a sellers’ market – arguably a fabulous time to sell your home or investment property.

Not only will your days in the market likely be fewer, it also means you can get multiple offers, which can potentially increase the selling price of your property.

Don’t know what a seller’s market means? Do not worry. Read this article to find out what it means to be in a seller’s market and how you can take advantage of it.

What is a sellers market?

Basically, a seller’s market is created when demand exceeds supply. In a seller’s market, properties take less time to sell and buyers have to compete for a property.

In Australia, the unprecedented seller’s market is driven by record levels of demand from buyers exceeding the number of properties available on the market. The country’s historically low interest rates have also prompted many Australian buyers to enter the market, far outstripping the available inventory of properties for sale.

Due to the shortage of supply, many buyers are forced to join bidding wars. During bidding wars, buyers will make competing bids and raise the price, usually above what the seller originally asked for.

Competitive market conditions often cause buyers to spend more than they would on a property. Therefore, sellers have the opportunity to increase their asking prices. Additionally, the increased interest means buyers have almost no power to negotiate properties and are more willing to pay for a property as is.

And while this is good news for sellers, you will still need to be strategic if you want to sell your property for the highest possible price.

How to spot if your local market is a seller’s market

Here are some signs to look out for to know if you are in a seller’s market:

  • Properties sell for high prices.
  • The sale prices are higher than the listing prices – in some cases significantly higher than the listing price.
  • The percentage of successful sales and auction closeout rates are above average.
  • The general economy is showing strong signs of growth.
  • The number of properties on the market is low compared to previous months or years.
  • Low and falling days of properties on the market.
  • Vendors in the area usually don’t offer any incentives or discounts.

Tips for selling your property in a seller’s market

You might be thinking that all you have to do is stick a sign in the yard or list your property online and let the market take care of the rest.

While it may be easier to sell in a seller’s market, there are things you can do to make sure you’re getting the best price for your property.

1. Keep your price fair.

We understand that with homebuyers willing to pay just about anything to get a piece of the real estate pie, it makes sense to raise your selling price above the average market value of your property. .

However, most real estate experts would advise you to keep your price competitive. Setting your selling price at or slightly below fair market value can encourage multiple exposures and you are likely to attract more interested buyers. If you receive multiple bids, a bidding war can ensue, which can cause the asking price to increase.

2. Prepare your property for sale.

Remember that in a sellers market, buyers are desperate for a property and are often willing to ignore cosmetic flaws and are even willing to pay a hefty repair bill. A seller in a hot market has a better chance of selling a home “as is” without having to make major updates.

Before deciding to make any major fixes to the property prior to listing, it is recommended that you have a discussion with your real estate agent to assess comparable properties in your neighborhood. If you end up overcapitalizing on your renovations and repairs, you risk losing more money than you can make with the sale.

If you want to get multiple offers on your property right after you put it up for sale, home staging is probably the best way to do this. In a seller’s market, buyers need to act quickly and are motivated by first impressions and emotions.

There is no better way to make someone fall in love with your home than to stage it. Giving your property a “wow” factor will make it stand out from the rest of the bunch and give it an even better edge over any other homes that might be on the market at the same time.

If you can’t afford to stage, at the bare minimum, the property should be decluttering and thoroughly cleaned from top to bottom in preparation for screenings.

3. Prepare for several offers.

You need to have a game plan ready in case buyers argue over your property. If you receive a lot of offers, review each offer with your agent to determine which one is best for you.

Sellers are often so focused on choosing the highest bid that they fail to consider the financial strength of every buyer. However, the higher dollar amount does not always win.

Once all the offers are received, take notes on each offer so that they are easier to compare. Don’t just focus on the price offered, but also other factors, such as:

  • The amount of the money deposit.
  • Whether the offer is entirely cash – or, if funded, the type of funding offered.
  • Deposit amount.
  • Waiver of standard buyer inspections or contingencies.
  • Seller costs, including possible proposal to cover closing costs by the buyer.
  • Unusual requests or allowances.

For example, a buyer may be willing to pay significantly more than your asking price, but include several contingencies in their offer, such as closing cost assistance. On the other hand, another buyer may offer a little less than the asking price, but not asking for anything more or trying to negotiate for something else.

4. Ensure pre-approval.

Don’t be blinded by unrealistic offers. After all, all that glitters is not gold. Just because a buyer says they’ll pay a certain amount for your home doesn’t mean they’ll be able to get those funds. Remember that lenders will not allow buyers to borrow more than the estimated value of your home.

The last thing you want is to take an unrealistic offer and be forced to put your house back on the market when the deal fails. For all buyers who need financing, make sure they have been pre-approved for a loan.

Pre-approval requires that buyers’ finances and credit history be checked, making it much more likely that they can ultimately get a loan for a specific amount of money. Meanwhile, prequalification is just an estimate of buyers’ finances.

5. Be aware of the contingencies.

Be on the lookout for offers that include contingencies. Offers with stipulations, such as mortgage contingencies, home sale contingencies, appraisal contingencies, and inspection contingencies, allow buyers to opt out of sales contracts if certain conditions are not met.

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Last updated: October 20, 2021

Posted: October 21, 2021


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AlphaNorth Asset Management – Winner of the 1st prize for performance over 5 years https://officialr4i.com/alphanorth-asset-management-winner-of-the-1st-prize-for-performance-over-5-years/ https://officialr4i.com/alphanorth-asset-management-winner-of-the-1st-prize-for-performance-over-5-years/#respond Tue, 19 Oct 2021 22:01:00 +0000 https://officialr4i.com/alphanorth-asset-management-winner-of-the-1st-prize-for-performance-over-5-years/

October 19, 2021 6:01 PM EDT


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Maximize returns for investors over the long term

Toronto, Ontario – (Newsfile Corp. – October 19, 2021) – AlphaNorth Asset Management won three awards at the 14e Annual Canadian Hedge Fund Awards. The AlphaNorth Partners fund won 1st place for the “Best annualized return over 5 years” (June 30, 2016 – June 30, 2021) for its flagship hedge fund, the AlphaNorth Partners fund. The AlphaNorth Partners Fund achieved annualized returns of 40.3% over the 5-year period against its benchmark, the S & P / TSX Growth Index, which returned 5.6% on the same period. The AlphaNorth Partners fund also received 2sd place for the “Best annualized return over 3 years” and 3rd place for “Best one-year return”.

Steve Palmer, Chief Investment Officer and Portfolio Manager of AlphaNorth, said: “It is gratifying to be recognized as the best Canadian hedge fund for its superior performance over 5 years, in addition to the outstanding performance over the shorter periods. one and three years. We take a long-term perspective and encourage our investors not to sweat the short-term volatility that can be high in the small-cap space. AlphaNorth’s investment philosophy focuses on maximizing returns for our long-term investors rather than minimizing short-term volatility.

“AlphaNorth’s success is built on investing in small caps which have historically significantly outperformed all other asset classes,” said Joey Javier, Managing Partner.

Launched in December 2007, the AlphaNorth Partners Fund is a long-term, small-cap hedge fund with a primary focus on Canadian companies. The investment objective is to achieve industry-leading long-term capital growth through superior selection of primarily Canadian securities. AlphaNorth believes that superior long-term returns can be achieved by exploiting the inefficiencies of the Canadian small-cap universe through careful stock selection on both a long and short basis. The company combines both a bottom-up and top-down strategy in selecting investments with the best risk / return characteristics. AlphaNorth uses a variety of technical analysis techniques, which have proven to be effective, to help synchronize buy / sell decisions. The AlphaNorth Partners fund is accessible to qualified investors.

To learn more about AlphaNorth Asset Management, contact info@alphanorthasset.com or by visiting www.alphanorthasset.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100232


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Carnival to sell $ 1.5 billion in junk bond as cruises return to the water https://officialr4i.com/carnival-to-sell-1-5-billion-in-junk-bond-as-cruises-return-to-the-water/ https://officialr4i.com/carnival-to-sell-1-5-billion-in-junk-bond-as-cruises-return-to-the-water/#respond Tue, 19 Oct 2021 16:52:53 +0000 https://officialr4i.com/carnival-to-sell-1-5-billion-in-junk-bond-as-cruises-return-to-the-water/

(Bloomberg) – Carnival Corp. increased the size of its junk-bond sale to $ 2 billion, just over a week after the cash-intensive cruise operator increased the size of a leveraged loan deal which helped the company reduce its borrowing costs.

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Its offer of 7.5-year unsecured notes, against an initial target of $ 1.5 billion, is expected to be valued later Tuesday at a yield of 6%, according to people with knowledge of the matter, who have asked not to. be identified to discuss a private transaction. . Order books were due to close at 2:45 p.m. in New York.

The company refinances expensive debt and pushes back the maturities. The proceeds from today’s sale will be used to make scheduled principal payments on debt in 2022 and for general corporate purposes, the people added.

The cruise line is focused on “cleaning the runway” of short-term debt maturities as it works to get all ships back on the water, said Jody Lurie, analyst at Bloomberg Intelligence. Management has forecast higher cash consumption in the fourth quarter with a return to positive free cash flow by the middle of next year.

“Carnival removes all obstacles to normalcy,” said Lurie.

While the Miami-based company has said it plans to put its entire fleet back to sea by spring 2022, it is still burning money as travel picks up. Carnival’s long-term debt stood at $ 28 billion at the end of the third quarter, up from $ 9.7 billion at the end of 2019.

The oversized deal follows a $ 2.3 billion loan sale earlier this month, which was also increased by $ 1.5 billion and helped the cruise ship operator replace the expensive 11.5% debt issued near the onset of the pandemic. The financing costs for the new loan were closer to 4%.

According to Bloomberg Intelligence calculations, Carnival has already cut interest charges by more than $ 250 million through loan refinancing this year. Its ability to refinance itself at a lower cost shows both investor optimism for the cruise industry and the lack of opportunities in a market still driven by liquidity.

Today’s deal would make Carnival the second-largest issuer of junk bonds by dollar volume this year, behind T-Mobile US Inc., according to data compiled by Bloomberg.

If the company is indeed able to return to pre-pandemic operations and generate positive cash flow next year, its obligations could tighten relative to those of competitor Royal Caribbean Cruises Ltd., which is currently trading slightly. more, said Lurie.

Read more: $ 2.4 Billion Carnival Rides Refi Wave Due 2022: Credit React

Bank of America Corp. manages the sale of the new offer.

(Updates with increased sizing throughout and expected performance in second paragraph.)

Bloomberg Businessweek Most Read

© 2021 Bloomberg LP


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5 ways to get a higher social security salary https://officialr4i.com/5-ways-to-get-a-higher-social-security-salary/ https://officialr4i.com/5-ways-to-get-a-higher-social-security-salary/#respond Tue, 19 Oct 2021 14:30:00 +0000 https://officialr4i.com/5-ways-to-get-a-higher-social-security-salary/

Social security and savings are two main sources of retirement income. The more you can increase both, the better off you will be in your later years. The good news is that you actually have several options for increasing the amount of your Social Security checks.

Taking any (or all) of these five steps can help you end up with larger retirement benefits, which should give you more financial freedom once you run out of paychecks.

Image source: Getty Images.

1. Climb the career ladder

The more income you have during your career, the more your Social Security benefits can increase.

Every year you pay taxes on your income up to a defined maximum income called the basic salary limit (which most people do not reach). The Social Security Administration records the amount of income you have been taxed on and this becomes part of your work record.

The income in your work record is then adjusted for inflation and the SSA calculates an average monthly salary using the 35 years that your income was highest. The benefits correspond to a percentage of this average salary. This means that the more money you can earn each year, the higher your benefits will ultimately be.

Earning more money comes from developing better professional skills and advancing in your profession. So if you want more Social Security income, make sure that your career path gives you the opportunity to steadily increase your income.

2. Work longer

The longer your employment history, the more potential years of earnings you could have included when your average salary is calculated by the SSA.

If you don’t have a 35-year career, your average salary will include a few years of $ 0 earnings. If your career lasts exactly 35 years – or is only 36 or 37 years – then most or all of your working years will fall into your average. This is true even if you’ve had a few years where your earnings weren’t very high because you were just starting out or were unemployed part of the time.

If you’ve climbed the career ladder and earn more later in life, working for several extra years can have a significant impact on the amount of your Social Security checks. With more years of work potentially to be included in your average salary calculation, some of those lower paid years end up being excluded.

3. Claim your late benefits

Seniors who wait until the age of 70 to begin their Social Security checks receive higher monthly benefits than those who apply for benefits earlier. The retirement benefit program is designed that way.

Retirees have a choice of when to start benefits and can claim them between the ages of 62 and 70. But early filers are subject to a reduction in benefits while late filers earn an increase. If you want a higher Social Security income, you will have to wait so that you can earn the deferred retirement credits that translate to the highest possible monthly check.

4. Develop a complaints strategy with your spouse

Married couples should consider all of the different ways to claim social security, especially if one partner has earned more than the other. If a lower-income spouse starts their checks earlier, the higher-income spouse can allow their benefits to increase. This could sometimes lead to a higher lifetime income for the couple.

This is just one of dozens of different approaches senior couples could take. Make sure you explore them all and decide which combination of ranking strategies is right for you.

5. Claim all the benefits you can

Most people are familiar with Social Security retirement benefits. But there are others as well, including Supplemental Security Income for disabled and low-income seniors with limited financial resources.

Chat with representatives from the Social Security Administration and go over all the different types of benefits you may be entitled to to make sure you’re maximizing your income.

By taking these steps, you will hopefully receive many Social Security benefits throughout your retirement. This money can go a long way in ensuring that you can live a comfortable life without serious financial worries in your later years.


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Noront agrees to sell to Wyloo Metals, says bid is greater than BHP https://officialr4i.com/noront-agrees-to-sell-to-wyloo-metals-says-bid-is-greater-than-bhp/ https://officialr4i.com/noront-agrees-to-sell-to-wyloo-metals-says-bid-is-greater-than-bhp/#respond Mon, 18 Oct 2021 19:23:17 +0000 https://officialr4i.com/noront-agrees-to-sell-to-wyloo-metals-says-bid-is-greater-than-bhp/

Sudbury –

Noront Resources Ltd. announced on Monday that he had accepted the conditions with Australian Wyloo Metals to acquire up to 100% of the shares of Noront for C $ 0.70 in cash.

In a statement, Noront said the offer is greater than BHP offers C $ 0.55 per share and represents better value for shareholders.

If the deal goes through, current shareholders can sell their shares at 70 cents each, or keep them and continue as common shareholders.

Noront CEO Alan Coutts said the company’s board of directors has determined that Wyloo’s offer is superior.

“Based on an assessment by the Special Committee and its advisers, Noront’s board of directors has determined that the Wyloo Metals proposal represents superior value to our shareholders, compared to the BHP offer,” said Coutts said in the release.

However, BHP has the right to match the offer within five days. If the company decides not to match, Wyloo Metals will loan Noront $ 23 million to fund, among other things, $ 13 million payable to BHP for ending its takeover offer for the company.

Currently, Wyloo currently owns approximately 37.25% of Noront’s common stock.

Noront is focused on the development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and world-class chromite deposits including Blackbird, Black Thor and Big Daddy, all located in the lowlands of James Bay in Ontario, into an emerging metals camp known as the Ring of Fire.

Noront has announced its intention to build a chromite smelter in Sault Ste. Married.


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Middle Class Americans Are Poor in Assets: Report https://officialr4i.com/middle-class-americans-are-poor-in-assets-report/ https://officialr4i.com/middle-class-americans-are-poor-in-assets-report/#respond Mon, 18 Oct 2021 19:14:20 +0000 https://officialr4i.com/middle-class-americans-are-poor-in-assets-report/

Middle class households in the United States have few financial assets and the median amounts held are well below the assets needed to fund a secure retirement, according to the National Institute for Retirement Security, a Washington-based nonprofit research and education group.

In 2019, middle-class millennials owned only 14% of their generation’s financial assets, middle-class Gen Xers 8% of their generation’s financial assets, and baby boomers only 6%.

“In America, the middle class can no longer afford to retire,” said Tyler Bond, the group’s research director. “Middle-class Americans face strong economic inequality, with ownership of financial assets highly concentrated among the wealthy. Retirement prospects for many… are bleak at best. ”

For middle-class millennial households in 2019, the average financial assets held were $ 17,802 and the median was $ 7,800. Generation X middle-class households had average financial assets of $ 62,944 and median financial assets of $ 39,000. For middle-class baby boomers, the average amount of financial assets held was $ 93,298 in 2019, while the median was only $ 51,700.

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