All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (“Gibson” or the “Company”) is pleased to announce the extension and amendment of a long-term contract at its Gateway Terminal (“Gateway” or the “Terminal”) with an existing customer that refreshes the initial contract term, with further renewal options beyond that date. The extension includes contracting additional loading windows and increasing contracted capacity per loading window, resulting in fixed Gateway revenue from this customer increasing by approximately 40%. Gibson has also sanctioned dredging at Gateway, to be completed in early 2025, which will enable customers to load 10%+ more volume, the maximum allowable in Corpus Christi, directly on Very Large Crude Carriers and Suezmax vessels thereby reducing customer shipping time and cost. “Today’s announcement marks a significant milestone for Gibson as we deliver upon our key Gateway acquisition objectives,” said Curtis Philippon, President & Chief Executive Officer. “It is exciting to see our original customers renewing and expanding their position while welcoming new customers at the Terminal, demonstrating the strong demand for Gateway’s attractive export capabilities. Customer demand, combined with excellent operational performance and the benefits of capital improvements, including the Cactus II connection and dredging projects, has Gibson on track to achieve our previously provided guidance on EBITDA growth earlier than anticipated. We now expect Gateway to achieve its EBITDA run rate growth target of 15 – 20% by Q4 2025.” Growth Capital Guidance The Company also announced its 2025 growth capital guidance of up to $150 million, including $100 million of growth capital to be deployed predominantly at Gateway, and the remainder focused on other projects at and around other Gibson facilities currently being assessed in a disciplined manner. Gibson would also note that it has completed its assessment of the previously announced Waste-to-Energy Project proposal and has reached a negative final investment decision. Replacement Capital Guidance Gibson’s Board of Directors approved the allocation of $60 million of replacement capital expenditures, including $20 million of capital related to turnarounds at both the Moose Jaw facility and select terminal assets. Cost Focus Campaign Gibson has also commenced an ambitious cost focus campaign to decrease costs on a run rate basis by the end of 2025 by greater than $25 million to ensure the Company is efficient and competitive, and well positioned for growth moving forward. To date, approximately $5 million of savings have already been realized. Funding Position With this capital budget, Gibson is fully-funded and expects to remain within its Financial Governing Principles with the benefit of growing stable Infrastructure cash flows in 2025. At the end of the third quarter of 2024, the Company's Net Debt to Adjusted EBITDA ratio ( 1) of 3.2x was just below the midpoint of its 3.0x – 3.5x target range and its Dividend Payout ratio (1) of 65% was below its 70% – 80% target range. “We will remain focused on the disciplined deployment of growth capital in 2025, as well as adhering to our key governing principles and capital allocation philosophy”, said Sean Brown, Senior Vice President and Chief Financial Officer. “We expect to deploy up to $200 million between growth capital and share repurchases. With a growth capital program of $100 to $150 million, anticipated repurchases are between $50 and $100 million in 2025.” About Gibson Gibson is a leading liquids infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of liquids and refined products. Headquartered in Calgary, Alberta, the Company’s operations are located across North America, with core terminal assets in Hardisty and Edmonton, Alberta, Ingleside and Wink, Texas, and a facility in Moose Jaw, Saskatchewan. Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange. For more information, visit www.gibsonenergy.com . (1) Net debt to adjusted EBITDA ratio and dividend payout ratio are non-GAAP financial ratios. See the “Specified Financial Measures” section of this release. Forward-Looking Statements Certain statements contained in this press release constitute forward-looking information and statements (collectively, forward-looking statements) including, but not limited to, statements concerning Gibson's expectations of growth capital expenditures and replacement capital expenditures in 2025 and the location and use of such deployment, Gibson's ability to sanction projects that are in support of such expenditures and the timing thereof, Gibson's ability to grow Infrastructure cashflows throughout 2025, adherence to Gibson's current governing principles and capital allocation philosophy, Gibson's share repurchase program and expectation to repurchase shares in 2025, Gibson’s expectations regarding the return of capital to shareholders, the timing thereof and conditions upon which Gibson would do so, the forecast operating and financial results of Gibson, where applicable, the resulting commercial capabilities of the dredging project and Cactus II connection project, Gibson’s cost reduction capabilities and ability to realize cost reductions and expectations and targets for EBITDA, cash flows, distributable cash flow, debt and Net Debt to Adjusted EBITDA and Dividend Payout ratios. All statements other than statements of historical fact are forward-looking statements. The use of any of the words ‘‘anticipate’’, ‘‘plan’’, ‘‘contemplate’’, ‘‘continue’’, ‘‘estimate’’, ‘‘expect’’, ‘‘intend’’, ‘‘propose’’, ‘‘might’’, ‘‘may’’, ‘‘will’’, ‘‘shall’’, ‘‘project’’, ‘‘should’’, ‘‘could’’, ‘‘would’’, ‘‘believe’’, ‘‘predict’’, ‘‘forecast’’, ‘‘pursue’’, ‘‘potential’’ and ‘‘capable’’ and similar expressions are intended to identify forward-looking statements. The forward-looking statements reflect Gibson's beliefs and assumptions with respect to, among other things, future market conditions, the accuracy of financial and operational projections of Gibson, Gibson's future operating and financial results, ability to meet growth capital and replacement capital expenditure targets, continued adherence to Gibson's governing principles and capital allocation philosophy, the ability to place incremental infrastructure projects into service and the timing thereof and the ability to return capital to shareholders and the timing thereof. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including, without limitation, risks inherent to Gibson's business generally and risks relating to historical and future financial results as it relates to Gibson's financial condition or results. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. The Company does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, the risks and uncertainties described in “Forward-Looking Information” and “Risk Factors” included in the Company's Annual Information Form and Management's Discussion and Analysis (“MD&A”), each dated February 20, 2024 and the Company’s MD&A for the three and nine months ended September 30, 2024 and 2023, each as filed on SEDAR+ and available on the Gibson website at www.gibsonenergy.com . Specified Financial Measures This press release refers to certain financial measures that are not determined in accordance with GAAP, including non-GAAP financial measures and non-GAAP financial ratios. Readers are cautioned that non-GAAP financial measures and non-GAAP financial ratios do not have standardized meanings prescribed by GAAP and, therefore, may not be comparable to similar measures presented by other entities. Management considers these to be important supplemental measures of the Company’s performance and believes these measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in industries with similar capital structures. For further details on these specified financial measures, including relevant reconciliations, see the "Specified Financial Measures" section of the Company’s MD&A for the three and nine months ended September 30, 2024 and 2023, which is incorporated by reference herein and is available on Gibson's SEDAR+ profile at www.sedarplus.ca and Gibson's website at www.gibsonenergy.com . a) Adjusted EBITDA Noted below is the reconciliation to the most directly comparable GAAP measures of the Company’s segmented and consolidated adjusted EBITDA for the three and nine months ended September 30, 2024, and 2023: b) Distributable Cash Flow The following is a reconciliation of distributable cash flow from operations to its most directly comparable GAAP measure, cash flow from operating activities: (1) Acquisition and integration costs adjusted on an incurred basis. c) Dividend Payout Ratio d) Net Debt to Adjusted EBITDA Ratio For further information, please contact: Investor Relations: (403) 776-3077 investor.relations@gibsonenergy.com Media Relations: (403) 476-6334 communications@gibsonenergy.com
Strategic Moves and Future Potential Drive ON Semiconductor’s Recovery Prospects Despite ON Semiconductor’s challenging year, which saw its stock decline by over 20%, many investors are eyeing the company for its promising potential. While the broader tech sector boomed, ON faced a tumultuous period primarily due to sluggish demand in North America and Europe and ongoing inventory challenges. Nonetheless, the company is positioned for a promising rebound, fueled by its leadership in silicon carbide technology. This material is crucial for utility-scale solar solutions and China’s burgeoning electric vehicle market. Furthermore, ON Semiconductor is expanding its influence in AI data centers with advanced sensing and power solutions. The company’s robust alliances with industry giants underscore its resiliency and growth potential. A major multi-year agreement with Volkswagen promises to revolutionize EV performance through innovative power solutions. Additionally, a strengthened partnership with DENSO Corporation marks over a decade of collaboration in enhancing vehicle safety and intelligence, a testament to ON’s commitment to advanced driver assistance technologies. Expanding its technological reach, ON Semiconductor recently invested $115 million to acquire Qorvo’s cutting-edge Silicon Carbide JFET technology. This strategic acquisition bolsters ON’s EliteSiC portfolio and complements its energy-efficient solutions for AI and EV markets. Despite these advancements, ON still faces macroeconomic challenges and weaker-than-expected growth in certain areas, which have kept investors cautious. The projected declines in revenue and earnings for 2024 further emphasize the need for strategic patience. While uncertainties loom, ON maintains a Hold ranking, suggesting potential investors might benefit from awaiting clearer skies before diving in. ON Semiconductor’s Strategic Recovery: Innovations and Future Trends ON Semiconductor, a key player in the semiconductor industry, is navigating a difficult financial period characterized by a 20% decline in stock value over the past year. This downturn comes amidst a broader tech sector boom, presenting both challenges and opportunities for the company. Innovations in Key Technologies At the heart of ON Semiconductor’s recovery strategy is its leadership in silicon carbide (SiC) technology. SiC plays a critical role in advancing utility-scale solar solutions and supporting the burgeoning electric vehicle (EV) sector in China. The company’s investment in this area is expected to drive future growth, especially given the increasingly crucial role of sustainable and efficient technologies in the global market. In addition to SiC, ON Semiconductor is making strides in AI data centers through cutting-edge sensing and power solutions. These advancements cater to the rising demand for sophisticated technologies in the AI realm, particularly as data centers seek energy-efficient solutions. Strategic Alliances and Acquisitions ON Semiconductor’s robust partnerships with major industry players further underscore its potential for recovery and growth. A notable multi-year agreement with Volkswagen is poised to enhance EV performance significantly. This partnership focuses on innovative power solutions that could revolutionize how electric vehicles operate. Furthermore, ON Semiconductor’s long-standing relationship with DENSO Corporation, which spans more than a decade, highlights its commitment to enhancing vehicle safety and intelligence through advanced driver assistance technologies. In a strategic move to expand its technological capabilities, ON Semiconductor invested $115 million to acquire Qorvo’s Silicon Carbide JFET technology. This acquisition is a strategic addition to ON’s EliteSiC portfolio, which aims to strengthen the company’s position in the AI and EV markets by offering energy-efficient solutions. Market Challenges and Predictions Despite these strategic advancements, ON Semiconductor is not without its challenges. The company is contending with macroeconomic pressures and slower-than-expected growth in certain markets. Projections for 2024 indicate potential declines in revenue and earnings, suggesting that strategic patience will be necessary for the company and its investors. The current Hold ranking for ON Semiconductor implies that prospective investors might benefit from waiting for a clearer market outlook before making investment decisions. However, the company’s strong strategic foundations and focus on cutting-edge technology position it well for future success once these challenges are navigated. Conclusion ON Semiconductor’s strategic moves in leveraging silicon carbide technology and enhancing its portfolio through key acquisitions and partnerships underscore its potential for recovery and growth. While current economic and market conditions present obstacles, the company’s investments in sustainable technology and AI data center solutions position it well for long-term success. For more information on ON Semiconductor’s innovations and strategic direction, visit ON Semiconductor .
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zkMe Network Celebrates Second Anniversary, Announces Strategic Ecosystem Rewards Program for 2025 12-02-2024 11:58 PM CET | Business, Economy, Finances, Banking & Insurance Press release from: Getnews / PR Agency: LianPR Image: https://www.getnews.info/uploads/8c93e174729b63b281265de5934ee77c.jpg zkMe [ https://www.zk.me/ ] Network celebrates its second anniversary with significant ecosystem growth and technological advancement, marking the occasion with the launch of a strategic ecosystem rewards program and plans for a comprehensive tokenomics model in 2025. As a decentralized identity infrastructure powered by zero-knowledge proofs, zkMe provides private and secure identity verification with enhanced data protection. The platform enables users to authorize multi-chain applications with a single verification, serving as an all-in-one identity solution across chains.Through its decentralized node network, zkMe Network ensures transparent verification processes while allowing users to maintain control of their data and earn rewards from credential sharing. As the Web3 industry navigates increasing regulatory requirements, with the EU's MiCA regulations taking effect in 2025, zkMe's zero-knowledge proof technology continues to set the standard for privacy-preserving compliance solutions. The platform's innovative approach has earned recognition from leading investment firms, securing over $6 million in total funding, including a recent $4 million seed round led by Multicoin Capital with participation from OKX Ventures and Robot Ventures. "In the digital age, privacy data may be your most valuable personal asset," states Alex Scheer, Founder and CEO of zkMe. Born in Germany, Alex's vision for data sovereignty emerged from deep reflection on digital privacy. "Every day, we leave digital footprints through transactions, investments, and social interactions in the blockchain ecosystem. While these activities create value, they can also become vulnerabilities that expose our personal information. This profound understanding of digital privacy challenges drove our team to establish zkMe as a global privacy solution," Alex explains. Perhaps what's most striking about zkMe is the team's approach to building. "Think of us as modern digital craftsmen," Alex shares with enthusiasm. "We have the precision of German engineering but move at Web3 speed. While others might focus on crafting fancy narratives, we hands-on build identity infrastructure that deploys advanced identity solutions across 20+ major blockchain networks. Self-sovereign identity, value-generating data sharing, and decentralized privacy are not just goals-they're our foundations." In crypto, you need to be fast AND flawless - that's the standard we've set for ourselves." This patient, methodical approach has served them well in an industry often characterized by hype cycles. The team's market assessment quickly proved accurate. "The market response has been remarkable," Alex explains. "We're seeing users actively seek out our privacy-preserving solution, especially given their growing concerns about identity data breaches. Leading investors have also recognized this potential, backing our vision with their support. These strong signals confirm what we believed from the start - that decentralized identity verification would become essential for the future of Web3." zkMe has established partnerships with more than 70 Web3 projects across various sectors, including Real-World Asset (RWA) integration, On-and-Off-ramps platforms such as Plume and Xion Global, as well as DeFi and Gaming Infrastructure projects like KyberSwap, Hinkal, Singularity, and CARV. The platform's mobile application has reached 33,090 downloads and processed over 660,000 user attestations, demonstrating strong user adoption and market demand. The company's technological infrastructure features several key innovations: Zero-knowledge proofs (ZKP): A decentralized identity network powered by zero-knowledge proofs, enabling private verification while meeting compliance requirements Reusable credentials: An all-in-one identity verification solution that unlocks multi-chain application access with just one verification zkMe Identity Network [ https://www.zk.me/zkkyc]: A decentralized network that ensures transparent verification processes while allowing users to control their data and earn rewards from credential sharing Looking ahead to 2025, zkMe will introduce a comprehensive tokenomics model that aligns ecosystem value with participant contributions. The platform has developed a strategic framework that focuses on three key pillars: * Early supporters will receive ecosystem rewards through a structured incentive mechanism * Active users will gain priority rights in future value distribution events * Data contributors will benefit from a sustainable value-sharing system The robust technological foundation enables zkMe to deliver unique value across the entire Web3 ecosystem. For users, the platform ensures true data sovereignty, enabling both secure verification and value capture through reusable credentials. Projects benefit from streamlined compliance infrastructure that dramatically reduces KYC costs while eliminating data breach risks. Meanwhile, developers can leverage a comprehensive SDK and API suite for rapid ecosystem integration and expansion. As zkMe marks its second anniversary milestone, the platform acknowledges the crucial role of community support in its development journey. The upcoming year promises to be transformative, as the maturation of tokenomics and decentralized governance structures will usher in a season of unprecedented rewards for early contributors. Through these concrete actions, zkMe demonstrates that in this era of possibilities, privacy and compliance are not mutually exclusive choices but complementary forces driving industry advancement. "We're not just solving current identity verification challenges," Alex emphasizes, outlining a grander vision. "Through self-sovereign identity management, users will actively match services and discover opportunities, truly creating value from their own data. This embodies the real spirit of Web3 - decentralization and anonymity while giving users complete control over their digital assets and identity data." About zkMe zkMe builds zk Identity Oracles [ https://www.zk.me/identity-oracle ] for truly decentralized & anonymous cross-chain credential verifications. No personal information is ever processed by anyone but the user themselves. Data leaks & misuse by the service provider are impossible; full interoperability & reusability result in a superior ID solution. zkMe is the only FATF compliant KYC provider to be fully decentralized, offering a full suite of products from anti-bit/anti-sybil, to KYC and more. Contacts: Email: contact@zk.me Website: www.zk.me [ http://www.zk.me/ ] Twitter: @zkme_ [ https://x.com/zkme_ ] Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements. Media Contact Company Name: ZkMe Contact Person: Johnny Chan Email: Send Email [ http://www.universalpressrelease.com/?pr=zkme-network-celebrates-second-anniversary-announces-strategic-ecosystem-rewards-program-for-2025 ] State: Hong Kong Country: China Website: http://www.zk.me This release was published on openPR.
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x YouTube Video Listen to our archived episodes: Pandora | LibSyn | YouTube Support the show: Patreon | PayPal: 1x or monthly | Square Cash * David Waldman didn’t write the rules, but he might be the last one to remember what they all are . Christmas has come early for Trump. Billionaire Secret Santa rules are simple : bring a million bucks . Also, it’s no secret who’s playing Santa this year. Donald can sit on Santa Musk’s lap all he wants, but the naughty boys and girls who threaten Santa’s elves in China will find a primary challenge in their stockings. Musk expects Trump to immediately fire all non-essential employees and rehire them over at DOGE. The Trump doctrine (aka, Sein Kampf ) involves gunboat money laundering in Panama , while around the world tariffs replace thumb breaking. Here such heavy-handed extortion tactics are not required as everyone seems eager to break their own thumbs in advance. Clarence Thomas needs an emotional support billionaire to live with the stigma of cruel people constantly mocking his graft . Fani Willis didn’t deserve to be disqualified from prosecuting Trump in Georgia, and yet she was . The archivist and deputy archivist of the United States said that the Equal Rights Amendment cannot be certified without further action by Congress. But did Joe Biden think to call Colleen Shogan “ unhinged ” and suggest that she is in an affair with William Bosanko , then maybe dox them both? Worth a try!Happy holidays from Bad Bunny, who announced Thursday he will release a new album Jan. 5. “Debí Tirar Más Fotos,” which translates to “I should have taken more photos,” is his sixth studio album and follows in his tradition of releasing new music on unexpected dates. His debut album, 2018’s “X 100PRE,” arrived around Christmas and 2020’s “El Último Tour del Mundo” near Thanksgiving. The January release date is just before “Día de Reyes,” or Three Kings Day, and is a Sunday — unlike the industry’s standard Friday release date. The Puerto Rican musician announced the news on Instagram in a short video featuring filmmaker Jacobo Morales. He also released a new single, “PIToRRO DE COCO.” A day before, Bad Bunny teased a 17-track list on social media, with each song titled “BOMBA,” perhaps in reference to the Puerto Rican musical style and dance. “Debí Tirar Más Fotos” follows 2023’s “Nadie Sabe Lo Que Va a Pasar Mañana” (“Nobody Knows What Will Happen Tomorrow”), which was met with mixed reviews. On that album, Bad Bunny’s reggaeton offerings were limited, returning instead to the Latin trap of “X 100PRE” in songs like “MONACO” and “GRACIAS POR NADA.” The announcement caps a busy year for El Conejo Malo. Bad Bunny made headlines after he threw his support behind Vice President Kamala Harris shortly after a comedian at Donald Trump’s Madison Square Garden rally made crude jokes about Latinos and called Puerto Rico a “floating island of garbage.” He also canvassed North America on his “Most Wanted Tour,” which made The Associated Press’ list of the best concerts of the year.
Happy holidays from Bad Bunny, who announced Thursday he will release a new album Jan. 5. “Debí Tirar Más Fotos,” which translates to “I should have taken more photos,” is his sixth studio album and follows in his tradition of releasing new music on unexpected dates. His debut album, 2018’s “X 100PRE,” arrived around Christmas and 2020’s “El Último Tour del Mundo” near Thanksgiving. The January release date is just before “Día de Reyes,” or Three Kings Day, and is a Sunday — unlike the industry’s standard Friday release date. The Puerto Rican musician announced the news on Instagram in a short video featuring filmmaker Jacobo Morales. He also released a new single, “PIToRRO DE COCO.” A day before, Bad Bunny teased a 17-track list on social media, with each song titled “BOMBA,” perhaps in reference to the Puerto Rican musical style and dance. “Debí Tirar Más Fotos” follows 2023’s “Nadie Sabe Lo Que Va a Pasar Mañana” (“Nobody Knows What Will Happen Tomorrow”), which was met with mixed reviews. On that album, Bad Bunny’s reggaeton offerings were limited, returning instead to the Latin trap of “X 100PRE” in songs like “MONACO” and “GRACIAS POR NADA.” The announcement caps a busy year for El Conejo Malo. Bad Bunny made headlines after he threw his support behind Vice President Kamala Harris shortly after a comedian at Donald Trump’s Madison Square Garden rally made crude jokes about Latinos and called Puerto Rico a “floating island of garbage.” He also canvassed North America on his “Most Wanted Tour,” which made The Associated Press’ list of the best concerts of the year.