Tag: New Jersey

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Business

Berkley One grows presence in the Mid-Atlantic and Midwest with state and product expansions

MORRISTOWN, N.J. — (BUSINESS WIRE) — #AlwaysMovingForward–Berkley One (a Berkley Company), an insurance provider for modern, sophisticated individuals and families, is growing its presence in the Mid-Atlantic with the addition of Maryland as an active state for personal insurance. Ahead of the collector vehicle and boating seasons, the provider is also expanding Berkley One Classics in three states and Recreational Marine in five states.

“We’re filling in the map quickly,” states Kathy Tierney, President of Berkley One. “And in a way that not only broadens our footprint to more states but deepens it with an expanded product portfolio, including recreational marine and collector vehicle solutions.” Tierney adds, “As a growing organization, we remain focused on working with and for our agents and clients to help them keep moving forward.”

In Maryland, Berkley One offers its full complement of personal insurance solutions including insurance for homes, condos and rentals, automobiles, fine art and collectibles, excess liability, flood and excess flood and recreational marine.

Collector Vehicle, offered through Berkley One Classics, has expanded to Colorado, Kansas and Missouri and Recreational Marine has been added in Illinois, Michigan, New Hampshire, Vermont and Wisconsin. These solutions are offered through agents with a Classics or Recreational Marine appointment with Berkley One.

Berkley One’s current footprint includes Arizona, Colorado, Connecticut, Florida, Georgia, Illinois, Maryland, Massachusetts, Michigan, Minnesota, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Texas, Vermont, Virginia and Wisconsin. Collector Vehicle is available as a stand-alone product in Iowa, Kansas, Missouri, Nebraska, North Dakota and South Dakota and Recreational Marine is available as a stand-alone product in Maine.

About Berkley One: Berkley One is a member company of Berkley, one of the nation’s premier commercial property casualty insurance providers, whose insurance company members are rated A+ (Superior) by A. M. Best Company. Founded in 1967, W. R. Berkley Corporation conducts business worldwide through more than 50 operating units and reported $8.8 billion of gross premiums written in 2020.

Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued.

Contacts

Christoph Ritterson

Berkley One

312-586-4298

critterson@berkleyone.com

Categories
Business

New Jersey Resources board of directors declares quarterly dividend

WALL, N.J. — (BUSINESS WIRE) — The board of directors of New Jersey Resources (NYSE: NJR) unanimously declared a quarterly dividend on its common stock of $.3325 per share. The dividend will be payable on July 1, 2021 to shareowners of record as of June 16, 2021.

The company is committed to providing value to its shareowners with a competitive return and has paid quarterly dividends continuously since its inception in 1952.

About New Jersey Resources

New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:

  • New Jersey Natural Gas, NJR’s principal subsidiary, operates and maintains over 7,500 miles of natural gas transportation and distribution infrastructure to serve over half a million customers in New Jersey’s Monmouth, Ocean, Morris, Middlesex and Burlington counties.
  • NJR Clean Energy Ventures invests in, owns and operates solar projects with a total capacity of more than 357 megawatts, providing residential and commercial customers with low-carbon solutions.
  • NJR Energy Services manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.
  • Storage & Transportation serves customers from local distributors and producers to electric generators and wholesale marketers through its ownership of Leaf River Energy Center and the Adelphia Gateway Pipeline Project, as well as our 50 percent equity ownership in the Steckman Ridge natural gas storage facility, and our 20 percent equity interest in the PennEast Pipeline Project.
  • NJR Home Services provides service contracts as well as heating, central air conditioning, water heaters, standby generators, solar and other indoor and outdoor comfort products to residential homes throughout New Jersey.

NJR and its nearly 1,200 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.

For more information about NJR:

www.njresources.com.

Follow us on Twitter @NJNaturalGas.

“Like” us on facebook.com/NewJerseyNaturalGas.

NJR-D

Contacts

Media:
Michael Kinney

732-938-1031

mkinney@njresources.com

Investors:
Dennis Puma

732-938-1229

dpuma@njresources.com

Categories
Business

The Birch Group acquires four-building portfolio in Short Hills for $255M — One of the largest commercial deals in N.J.’s recent history

Company continues calculated expansion in Northern NJ with off-market deal in affluent Short Hills submarket

 

SHORT HILLS, N.J. — (BUSINESS WIRE) — The Birch Group, a privately-held commercial real estate investor, owner and operator, today announced the $255-million acquisition of a prominent four-building portfolio in Short Hills, N.J. The off-market acquisition comes on the heels of the company’s recent $77-million portfolio purchase in Morristown, and further cements its focus on acquiring prime value-add office assets across the suburbs of Northern N.J.


The 843,300-square-foot portfolio comprises four Class A office buildings located at 51, 101, 103 and 150 JFK Parkway in the affluent Short Hills submarket, widely recognized as one of the most prestigious and iconic suburban office regions in New Jersey. Cushman & Wakefield represented Mack-Cali Realty Corporation (NYSE:CLI), the seller in the transaction, and is also being retained by The Birch Group as the exclusive office leasing agent for the properties. With the acquisition, The Birch Group has now acquired over $750 million of commercial office assets since 2019.

“This portfolio offers a unique opportunity to reposition historically high-performing properties back to best-in-class assets, which is a hallmark of The Birch Group’s strategy. Short Hills is known for its incomparable prestige that manifests in heightened expectations among the regional tenant base,” said The Birch Group CEO and Founder Mark Meisner. “A one-size-fits-all approach to asset management doesn’t work in this submarket, and our focus will be on enacting tailored improvement strategies to create enduring value for our tenants and investors alike.”

The portfolio, which represents The Birch Group’s first foray into the Short Hills submarket, has a storied history of attracting and retaining blue chip tenants. Currently 80% leased to an impressive roster of 22 tenants, The Birch Group targeted the portfolio as a unique repositioning opportunity. The properties’ unrivaled trophy quality and preeminent Short Hills address has drawn the likes of Citibank, Investors Bank, KPMG, Bank of America, UBS, Dun & Bradstreet, Morgan Stanley and Wells Fargo — all current tenants.

Situated directly off Route 24, the properties offer regional connectivity to the Garden State Parkway, I-78, and the NJ Turnpike with immediate access to a highly skilled executive labor base in Short Hills, the wealthiest town in N.J. and the sixth wealthiest town in the United States. The buildings are further complemented by an expanding, walkable mixed-use amenity base that includes convenient access to the high-end Mall at Short Hills, a 4-Diamond Hilton Hotel, Canoe Brook Country Club, and The Upton — a recently completed upscale residential development by Roseland Residential Trust. The Mall at Short Hills is New Jersey’s premier shopping destination, offering unrivaled access to the state’s most extraordinary collection of quality retail including four of the world’s most prestigious department stores along with 150 specialty shops, restaurants, cafes and entertainment options.

The Birch Group will employ its unique value-add strategy for the portfolio, complementing $15.2 million of recently completed renovations at the properties by previous ownership, in addition to a newly constructed parking deck at 150 JFK Parkway. To this end, The Birch Group has tapped world-renowned commercial design firm Gensler to lead the design enhancements.

“During the pandemic, there has been a demographic shift to the suburbs and the migration of this talent pool represents an extraordinary opportunity to meet the demand for high-quality office assets in prime New Jersey markets,” Meisner added. “Short Hills is among one of the most prestigious suburban locales and it has consistently achieved above average rents in New Jersey, while maintaining the highest occupancy rates within the market.”

Each of the properties are located in the high-growth Route 24 Corridor, which is ideally situated near affluent residential communities including Short Hills, Millburn, Summit, Livingston, Chatham and Florham Park. Short Hills alone is home to 35% of N.J.’s billionaires, boasting a $1.475 million average home price and access to a top-level talent base, which has traditionally drawn consistent interest from high caliber Fortune 500 companies and leaders across industries spanning medical, finance, education and technology.

“These properties are situated within proximity to New Jersey’s most highly sought-after residential areas, which has long enabled them to attract a nationally recognized roster of blue chip tenants,” said David Bernhaut, executive vice chairman of Cushman & Wakefield of New Jersey, Inc. “The Short Hills cache has been instrumental in attracting wealth management, consulting, accounting and legal firms, as well as the headquarters of Dun & Bradstreet and Investors Savings Bank. These companies have chosen Short Hills due to its unparalleled local and regional highway access, proximity to private country clubs, high-end hospitality, and other conveniences that you simply can’t find in other submarkets.”

The four-building portfolio is located less than 15 miles from Newark Liberty International Airport, and within easy reach of NJ Transit’s Summit Station, which provides tenants and visitors with an easy commute to Manhattan via the Midtown Direct train line.

About The Birch Group

The Birch Group is a privately-held commercial real estate investor, owner and operator with a singular ability to uncover opportunity and create enduring value for partners, tenants and investors. Since 2014, we have deliberately expanded our portfolio of income-generating properties to include more than 3.8 million square feet of value-add office assets in strategic markets that demonstrate sound fundamentals and growth potential.

The Birch Group takes the long view, employing a methodical approach to investment in the pursuit of institutional-quality assets that consistently outperform any market cycle. For each property, we listen to the needs of existing and future tenants and enact tailored improvement and marketing strategies to create workplace environments that help them prosper. For more information, visit: https://birchgroupllc.com/

Contacts

MEDIA:
Christian Rizzo

Antenna Group

christian.rizzo@antennagroup.com

Categories
Business Education Technology

Newark Public Schools to install 4,500+ Odorox air and surface sanitation systems to help students and faculty return to the classroom safely

Powered by PYURE Technology, and proven to kill the COVID-19 virus, Odorox machines will operate in the district’s PK-12 classrooms, offices and high-traffic areas.

 

NEWARK, N.J. — (BUSINESS WIRE) — To welcome students and faculty back into the classroom with confidence, Newark Public Schools announced that it awarded a contract to Bio-Shine Inc., based in Spotswood, New Jersey, to install more than 4,500 Odorox air purifiers in PK-12 classrooms, offices and other high-traffic areas throughout the district. Odorox, powered by PYURE Technology, is a hydroxyl-generating air and surface purification system that makes indoor air safe to breathe and surfaces safe to touch.


The COVID-19 pandemic reinforced the importance of good air and surface hygiene in schools. In addition to Newark Public Schools’ strict COVID-19 protocols and sanitation procedures, Odorox adds a crucial layer of protection. Powered by PYURE Technology, Odorox replicates the way sunlight sanitizes the air outside by generating and diffusing the same natural cleansing agents indoors. This technology has been proven to destroy SARS-CoV-2, the virus that causes COVID-19, and is safe to use 24/7 around people, plants and animals.

“The district has made every possible effort to prepare our schools for the safe return of students and staff to in-person instruction, and this is one example of those efforts. Our city has seen high positivity rates, so we’re being extremely cautious and taking guidance from Newark Department of Health Director Dr. Mark Wade in our reopening strategy,” said Roger León, Superintendent of Newark Public Schools. “Our priority is the health and safety of our students and staff. We’re confident that we are able to resume in-person instruction in Newark’s public school system, and our buildings will be safe.”

Beyond its ability to kill the COVID-19 virus, Odorox is effective against viral seasonal infections like the flu and common colds, as well as norovirus and other gastrointestinal viruses. It also destroys airborne mold spores; cleanses the air of allergens, volatile organic compounds (VOCs) and other irritants; and eliminates odors.

“As head of facilities, I know the central system indoor air quality control systems are working, but it’s not something that the people occupying those spaces every day can see. What’s great about Odorox is that you can see the machine working in the room and that brings peace of mind to students, parents and staff,” said Steve Morlino, Executive Director of Facilities Management for Newark Public Schools. “But the true value is that it does what it says it does – it kills the COVID-19 virus; thoroughly disinfects porous and non-porous surfaces; eliminates VOCs and other irritants from the air; and much more. We will do anything we can to create a healthier, more comfortable learning environment in our schools.”

“This equipment is great for schools because there is very little maintenance required and it is extremely energy efficient. PYURE’s hydroxyl-generating technology does not require contaminants within a room to pass through a processing chamber in the machine for it to achieve its 99% efficacy rate in sanitizing the air and surfaces,” said Jason Teigman, Executive Director of Sales at Bio-Shine, Newark Public Schools’ distributor of Odorox. “This is also why Odorox is able to work so quickly. There’s one filter on the unit to protect the components from dust, dirt and debris. Otherwise, as long as the unit is turned on, hydroxyls are being generated and dispersed by the machine into the air and onto surfaces.”

In addition to the 4,500 Odorox machines, Newark Public Schools’ COVID-19 protocols include, but are not limited to, the following:

  • Masks are mandatory at all times inside school buildings
  • Plexiglass sneeze guards are installed on desks and all classrooms are equipped with disinfecting supplies, extra masks and gloves
  • Signage is posted reminding people to practice social distancing, wear a mask and wash their hands
  • Free breakfast and snacks are provided at school, and at early dismissal, students are given a grab-and-go lunch option to avoid congregations in lunch rooms
    • Food is also available for students’ families as well, if needed
  • Many of the faculty and staff have been vaccinated and the rest are encouraged to get vaccinated as well
    • The district has hosted several events at Barringer High School to administer vaccinations
  • On March 24, Newark Public Schools announced a partnership with Ginkgo Bioworks to provide weekly pooled COVID-19 testing for all students and faculty in each classroom
  • Strict access restrictions require any non-student or faculty member authorized to enter a Newark public school building to provide a negative COVID result
  • Daily ingress procedures require all faculty, students and authorized visitors to:
    • Answer the CDC’s required COVID-19 screening questions
    • Step into a shoe sanitizing station to disinfect and clean their shoes, then onto an extraction mat to remove excess moisture
    • Check their temperatures
    • Apply a hand sanitizing agent
  • Students are assigned a Monday-Tuesday or Thursday-Friday schedule
    • Wednesdays are reserved for thorough cleanings and sanitization

Other sanitation and facility upgrades made by Newark Public Schools in response to the pandemic include, but are not limited to:

  • Electrostatic sprayers for disinfecting porous and non-porous surfaces
  • Kaivac No Touch Bathroom Cleaning Machines
  • Air intake grilles are fully open to continuously flush buildings with fresh air and MERV filter ratings have been upgraded where appropriate.

In order to test the effectiveness of all COVID response measures, Newark Public Schools instituted air quality control and testing protocols that include, but are not limited to:

  • Reflective light meter to test surfaces for microscopic living cells on surfaces
  • Ion tester
  • Regular CO2 measurement and monitoring
  • O3 and oxidant meters
  • More frequent air filter changes

For more information about Newark Public Schools’ response to COVID-19 and back-to-school protocols, www.nps.k12.nj.us.

For more information about Odorox air purifiers, PYURE Technology and how they are helping to ensure the safe return to the classroom, email OdoroxAir@Bio-Shine.com.

All media requests can be directed to odoroxpr@antennagroup.com.

About The PYURE Company

The PYURE Company, formerly known as HGI Industries, designs, manufactures and markets commercial air purifiers that sanitize air and surfaces. PYURE’s innovative, patented technology replicates the way sunlight sanitizes the outdoor environment by safely generating and diffusing hydroxyls and organic oxidants indoors. PYURE markets products that destroy pathogens and improve air quality – from portable devices treating hundreds of square feet to HVAC-integrated solutions with sensor driven, integrated process controls treating hundreds of thousands of square feet. PYURE products can be purchased directly or through authorized distributors. Founded in 2007, The PYURE Company is a privately-owned enterprise with corporate headquarters and manufacturing facilities located in Boynton Beach, Florida. For more information, visit www.pyureco.com.

Contacts

Victoria Woodside

Antenna Spaces

odoroxpr@antennagroup.com
646-779-5572

Categories
Business Local News Technology

RtBrick completes another cashflow positive year

Routing software pioneer adds Tier-1 deployment to its list of 2020/21 achievements

PRINCETON, N.J. — (BUSINESS WIRE) — RtBrick Inc has completed its financial year, which ran from April 2020 through to March 2021. The company completed another cashflow positive year, alongside achieving some notable milestones, and cemented its position as one of the networking industry’s most important industry pioneers.

The year marked the live deployment of its software in Deutsche Telekom’s broadband network in Germany, following a successful pilot. Europe’s largest carrier is now using RtBrick’s BNG (Broadband Network Gateway) routing software to provide broadband services in Germany at speeds up to 1Gbps.

RtBrick also added support for IPTV services, surpassed the scale limitations of conventional routers using multithread processing, and added new APIs to its software, allowing operators greater control over their networks.

“This year has seen some significant achievements for RtBrick, including a major customer deployment, new products and features,” said Pravin S Bhandarkar, CEO and founder of RtBrick. “Despite the challenges presented by the global pandemic, when we transitioned to a remote working organization, we have maintained a strong engineering presence and augmented the team in strategic areas.”

The end of the financial year culminated in the announcement of a new Consolidated BNG (Broadband Network Gateway) for deployment in more remote locations.

RtBrick was also recognized as finalists in three prestigious industry awards – Leading Lights Most Innovative Telecoms Product, Broadband Awards Best Fixed Access Solution and Computing Technology Product Awards for Infrastructure Product of The Year.

To learn more about RtBrick’s leading disaggregated solution for broadband networks, check out our website here.

About RtBrick

RtBrick has pioneered carrier routing software that runs on off-the-shelf hardware. It has applied the same approach to networks that the huge ‘cloud-natives’ have used to build and operate their web-scale IT services. RtBrick is a privately held company, with staff located in India, Europe and the USA.

Contacts

Media

Justin Ordman

Red Lorry Yellow Lorry

rtbrick@rlyl.com
857 217 2886

Categories
Healthcare

Cresco Labs’ Sunnyside Dispensary releases new survey finding 25% of Americans now consume cannabis; consumption up 56% since 2018

New findings suggest the COVID-19 pandemic, combined with expanded state legalization, has attracted new consumers to the category and accelerated cannabis acceptance and adoption.

  • YouGov study indicates the number of current cannabis consumers has increased 56% within just two years compared to the 16% of Americans who reported current consumption in 2018.
  • 23% of current consumers say they tried cannabis for the first time within the past year.
  • More than half of cannabis consumers say they will purchase or try a new product or format this 420, indicating that the holiday is becoming increasingly focused on exploration and trial.

 

CHICAGO —  (BUSINESS WIRE) — Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or the “Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, released the results of a survey today showing one in four Americans currently consume cannabis, reporting they’ve tried some form of cannabis within the past twelve months. That’s a significant increase since 2018* when just 16% of U.S. adults reported current consumption, representing a 56% increase in just two years. What’s more, 23% of current cannabis consumers say they tried cannabis for the first time over the past year, suggesting the COVID-19 pandemic, combined with expanded state legalization, has rapidly accelerated cannabis acceptance and adoption in America.

 

These findings are part of a national study conducted by global public opinion and data company YouGov in partnership with Sunnyside, the national retail dispensary brand of Cresco Labs. The study, conducted in March 2021, examined cannabis consumption, attitudes and purchase behaviors of nearly 5,000 Americans representative of the U.S. population.

Key findings from the study indicate that cannabis is attracting new consumers from a variety of demographics:

  • 44% of cannabis-consuming parents with children under 18 tried it for the first time in the past year.
  • 43% of Seniors (65+) who consume cannabis tried it for the first time in the past year.
  • Men and women are consuming cannabis equally as often during the year, month, week or day.
  • 62% of women believe that the 420 holiday is no longer only for “stoners” or heavy cannabis consumers.
  • 62% of parents who consume cannabis believe celebrating 420 has become more acceptable.

“We were curious to learn how current conditions have impacted consumer attitudes and cannabis consumption behaviors ahead of what we expect to be an unprecedented 420 celebration,” said Cris Rivera, SVP of Customer Experience at Cresco Labs. “Whether it’s the stressors of a global pandemic, quality of life enhancement, or increased accessibility due to expanded state legalization, the industry is ready to meet these new consumers to introduce them to its precisely dosed lab-tested products, safe and professional packaging, and welcoming retail locations.”

New Mexico became the 18th state to enact legislation to regulate cannabis for adult use, on the heels of adult-use legalization announcements from New York, New Jersey and Virginia. A total of 37 states and the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands have approved comprehensive, publicly available medical cannabis programs.

According to YouGov, people’s cannabis preferences vary by region:

  • The Northeast is the most likely (64%) to consume cannabis for anxiety/stress relief.
  • People in the South and West Coast consume cannabis for social occasions more than the rest of the country.
  • The South is more likely (32%) to consume cannabis for intimacy than the rest of the country.
  • The Midwest (61%) is consuming edibles and beverages more than the rest of America.
  • 74% of Midwestern consumers, and 64% of all cannabis consumers, believe if more people embraced cannabis, the world would be a better place.

As cannabis legalization continues to sweep the U.S, beliefs and behaviors surrounding 420, once considered a “stoner holiday,” are shifting to become much more mainstream and inclusive.

How will America celebrate 420 this year?

  • 57% of cannabis consumers view 420 as a national day of rest, relaxation and wellness.
  • 50% of people 21-54 will try or will consider trying a new product on 420 this year.
  • 60% of young cannabis consumers (21-34) plan to try out a new form of cannabis on 420.
  • 57% of cannabis consuming parents with children under 18 plan to try a new form of cannabis on 420.
  • 46% of men plan to try a new product on 420, while 25% of men plan to shop deals.
  • 20% of women are planning a day of wellness.
  • 53% of cannabis consumers plan to celebrate 420 with others this year, either in person or virtually.

“As one of America’s leading retailers of medical and adult-use cannabis products, we are on a mission to normalize and professionalize the shopping experience so consumers feel comfortable and confident adding cannabis to their everyday wellness,” said Rivera. “We believe 420 should be a mainstream and inclusive holiday, and this data set shows that people all over America are planning to embrace it in new ways this year.”

With 32 dispensaries across seven states including Illinois, Arizona, and Massachusetts, Sunnyside offers one of the largest selections of cannabis on the market—including premium flower, vapes, edibles, concentrates, and medicinal products from the most trusted brands in the cannabis industry. The company is offering discounts, special promotions, and door prizes as its locations across the U.S. Please visit Sunnyside.shop for more details.

* As reported by the National Survey on Drug Use and Health, 2018.

About Cresco Labs

Cresco Labs is one of the largest vertically integrated, multi-state cannabis operators in the United States. Cresco is built to become the most important company in the cannabis industry by combining the most strategic geographic footprint with one of the leading distribution platforms in North America. Employing a consumer-packaged goods (“CPG”) approach to cannabis, Cresco’s house of brands is designed to meet the needs of all consumer segments and includes some of the most recognized and trusted national brands including Cresco, Remedi, High Supply, Cresco Reserve, Good News Wonder Wellness Co., FloraCal and Mindy’s Chef Led Artisanal Edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside, Cresco’s national dispensary brand, is a wellness-focused retailer designed to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco provides the industry’s first national comprehensive Social Equity and Educational Development (SEED) program designed to ensure that all members of society have the skills, knowledge and opportunity to work in and own businesses in the cannabis industry. Learn more about Cresco Labs at www.crescolabs.com.

Forward Looking Statements

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as, ‘may,’ ‘will,’ ‘should,’ ‘could,’ ‘would,’ ‘expects,’ ‘plans,’ ‘anticipates,’ ‘believes,’ ‘estimates,’ ‘projects,’ ‘predicts,’ ‘potential’ or ‘continue’ or the negative of those forms or other comparable terms. The Company’s forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to those risks discussed under “Risk Factors” in the Company’s Annual Information Form for the year ended December 31, 2020 expected to be filed on March 26, 2021, and other documents filed by the Company with Canadian securities regulatory authorities; and other factors, many of which are beyond the control of the Company. Readers are cautioned that the foregoing list of factors is not exhaustive. Because of these uncertainties, you should not place undue reliance on the Company’s forward-looking statements. No assurances are given as to the future trading price or trading volumes of Cresco Labs’ shares, nor as to the Company’s financial performance in future financial periods. The Company does not intend to update any of these factors or to publicly announce the result of any revisions to any of the Company’s forward-looking statements contained herein, whether as a result of new information, any future event or otherwise. Except as otherwise indicated, this press release speaks as of the date hereof. The distribution of this press release does not imply that there has been no change in the affairs of the Company after the date hereof or create any duty or commitment to update or supplement any information provided in this press release or otherwise.

Contacts

Media:
Jason Erkes, Cresco Labs

Chief Communications Officer

press@crescolabs.com

Investors:
Jake Graves, Cresco Labs

Manager, Investor Relations

investors@crescolabs.com

For general Cresco Labs inquiries:
312-929-0993

info@crescolabs.com

Categories
Business Sports & Gaming

DraftKings named first Official Sportsbook and Daily Fantasy Partner of the Professional Fighters League

DraftKings Will Leverage PFL’s Proprietary SmartCage Technology to Deliver Unique Prop Bets and Innovative Season-Driven Gaming Opportunities to Fans   

PFL MMA 2021 season premieres on Friday, April 23 in primetime across ESPN networks and streaming platforms

NEW YORK — (BUSINESS WIRE) — The Professional Fighters League (PFL) today announced a new, multi-year partnership that designates DraftKings Inc. as the “Official Sportsbook and Daily Fantasy Partner of the PFL.” To start the season, wagering on PFL fights via DraftKings will be available for fans across the country, pending regulatory approvals.


The multi-faceted partnership will give MMA, daily fantasy and sports betting fans a truly unique viewing and gaming experience utilizing PFL’s proprietary SmartCage technology. PFL is the first in combat sports to capture and distribute real-time fighter data and analytics, which are integrated into each broadcast and across the league’s digital and social channels and include metrics like punch speed, fighter tracking, kick speed, heart rate and caloric burn. This data will eventually allow for innovative and distinctive prop bets. For example, fans will be able to place a wager on whether or not a fighter will land a strike exceeding 25 MPH.

“We’re thrilled to partner with DraftKings as we look to advance the sport by delivering a premium and unique betting and gaming experience to the millions of passionate MMA fans in the US,” said Peter Murray, CEO of the PFL. “The PFL’s win and advance season format combined with our proprietary SmartCage fight data and analytics offer unmatched prop bets and gaming opportunities. MMA’s league is back with our season debut this Friday, April 23 in primetime on ESPN2, ESPN+ and ESPN Deportes.”

As Official Sportsbook and Daily Fantasy Partner of the PFL, live odds will be integrated into each event broadcast across ESPN networks and streaming platforms, as well as during PFL’s pre-fight show presented by DraftKings and hosted by former college basketball player and ESPN media personality, Jonathan Coachman, alongside former MMA fighter Ian Parker. Additionally, DraftKings will offer cash prizes coupled with PFL-branded pools tied to the league’s regular season, playoffs and championship events. These offerings expand on the 2019 PFL Championship Pick’Em game, which garnered over 30,000 submissions and featured six, million-dollar world title fights on New Year’s Eve.

“We are excited to further our relationship with the Professional Fighters League as their first official betting and daily fantasy partner,” said Ezra Kucharz, Chief Business Officer of DraftKings. “MMA is mainstream. The fan is young, loyal, passionate, and engaged, and PFL delivers an innovative product. We look forward to bringing a premium betting and fantasy experience to this growing audience in what is a monumental partnership for combat sports and the gaming industry.”

DraftKings’ logos will also be featured in and around the cage, and DraftKings has exclusive rights to utilize PFL logos and “Official Partner” branding for advertising and promotions. Additionally, PFL and DraftKings will collaborate on exclusive, themed content across their social and digital platforms.

Since its inception in 2018, Professional Fighters League has quickly established itself as the No. 2 MMA company in the world. The league has experienced tremendous YoY growth across digital channels – 68% follower increase on Instagram, 30% total audience growth across digital and a 200% social engagement spike.

With the addition of world-class talent – from elite fighters to established business executives – and partnering with industry-leading brands such as Anheuser-Busch InBev, GEICO, CarParts.com and Socios, the PFL continues to accelerate its global expansion. Sports fans across more than 160 countries around world will be able to tune in to the league’s highly anticipated return on April 23 in Atlantic City, NJ.

Sports betting regulations are still being finalized across the country, and users will only be able to access these offerings in states where sports betting is legal.

About Professional Fighters League

Professional Fighters League (PFL) is the first and only to present MMA in the sports-season format where individual fighters compete in Regular Season, Playoffs, and Championship. PFL is the innovation leader with the PFL SmartCage delivering viewers on-screen fight analytics and real-time prop bets. PFL Roster is second to none with 25% of its fighters ranked in the top 25 in their weight-class. All PFL 2021 Season events are live in primetime on ESPN2/ESPN+ in the U.S. (typically on Thursdays), as well as on leading broadcast and streaming outlets in 160 countries worldwide.

For more info visit www.PFLmma.com and follow PFL on Instagram (@PFLmma), Twitter (@PFLMMA), and Facebook (/PFLmma).

About DraftKings

DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for 50+ operators in 17 countries. DraftKings’ Sportsbook is live with mobile and/or retail betting operations in the United States pursuant to regulations in Colorado, Illinois, Indiana, Iowa, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Tennessee, Virginia and West Virginia. DraftKings’ daily fantasy sports product is available in 8 countries internationally with 15 distinct sports categories. DraftKings is the official daily fantasy partner of the NFL, MLB, NASCAR, PGA TOUR and UFC as well as an authorized gaming operator of the NBA and MLB, an official betting operator of the PGA TOUR and the official betting operator of UFC. DraftKings also owns Vegas Sports Information Network, Inc. (VSiN), a multi-platform broadcast and content company.

Forward-Looking Statements

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings’ Securities and Exchange Commission filings. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contacts

Loren Mack

pfl@dkcnews.com
media@draftkings.com

@DraftKingsNews

Categories
Business Technology

Demotech affirms financial stability rating assigned to Gateway Insurance Company

JERSEY CITY, N.J. — (BUSINESS WIRE) — #FSR—Buckle, a tech-enabled financial services company, announced the Financial Stability Rating® (FSR) of A, Exceptional, assigned to its licensed carrier, the Gateway Insurance Company, has been affirmed by Demotech, Inc., based on year-end 2020 results. FSRs are a leading indicator of the financial stability of property and casualty insurers and title underwriters. Last year, Buckle announced the acquisition and recapitalization of Gateway, including its 47 state insurance licenses.

“Buckle’s mission is to serve the emerging middle class and providers to the gig economy with our inclusive, digital financial services platform,” said Kristi Matus, CFO and COO of Buckle. “We are pleased to receive this affirmation from Demotech, allowing Buckle to continue working toward our vision of helping gig workers to achieve economic freedom through our insurance products that provide excellent coverage at fair prices.”

This level of FSR is assigned to insurers who possess exceptional financial stability related to maintaining positive surplus regarding policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves (L&LAE), and realistic pricing.

FSRs summarize Demotech’s opinion of the financial stability of an insurer regardless of general economic conditions or the phase of the underwriting cycle. FSRs utilize statutory financial data based on insurance accounting principles prescribed or permitted by the National Association of Insurance Commissioners (NAIC). Since 1989, FSRs of A or better have been accepted by the major participants in the secondary mortgage marketplace.

About Demotech, Inc.

Demotech, Inc. is a financial analysis firm specializing in evaluating the financial stability of regional and specialty insurers. Since 1985, Demotech has served the insurance industry by assigning accurate, reliable, and proven Financial Stability Ratings® (FSRs) for Property & Casualty insurers and Title underwriters. FSRs are a leading indicator of financial stability, providing an objective baseline of the future solvency of an insurer. Demotech’s philosophy is to review and evaluate insurers based on their area of focus and execution of their business model rather than solely on financial size. Demotech was the first to review and rate independent regional and specialty insurers. Demotech’s consistently increasing list of accreditations and acceptances has resulted in rating and reviewing more than 400 insurers operating in the U.S. Visit www.demotech.com for additional information.

About Buckle

Buckle provides a financial services platform that focuses on insurance, credit, and advocacy for the gig economy. The company is reinventing the insurance model to more efficiently manage risk, supporting the entire ecosystem of drivers, fleets, and transportation network platforms to help everyone achieve economic freedom. Connect with Buckle on Facebook, Twitter and LinkedIn. Visit www.buckleup.com.

All trademarks recognized.

Contacts

Tracy Wemett

BroadPR

+1-617-868-5031

tracy@broadpr.com

Categories
Business Technology

NICE revolutionizes digital smart self-service with the launch of CXone Expert following the acquisition of MindTouch

CXone Expert is the industry’s first digitally fluent self-service solution combining data, AI and knowledge management, turning bots into smart digital agents

HOBOKEN, N.J. — (BUSINESS WIRE) — #NICE—NICE (Nasdaq: NICE) today announced the launch of CXone Expert, following the acquisition of MindTouch Inc., a San Diego-based leader in cloud-based knowledge management software for customer experience. CXone Expert is a comprehensive artificial intelligence (AI)-powered knowledge management solution that reduces friction by projecting personalized content to customers seeking self-service while injecting crucial insights throughout the customer journey. CXone Expert eliminates the frustration with today’s self-service experience by infusing AI and data, turning bots into smart AI-based agents.

When communicating with customer service organizations, today’s consumers expect choice and flexibility similar to what they enjoy with friends and family. CXone Expert brings effortless self-service experiences through the digital channels customers turn to first, from mobile applications and search engines to chatbots and websites by surfacing the right content when, where and how they want it. The solution provides a seamless experience all the way to human assistance by giving agents the full context and power to see the customer’s journey and create an intelligent, constructive conversation.

“We face a new breed of next-generation consumers who live in a digital world,” said Paul Jarman, NICE CXone CEO. “They want smart self-service, and they would like to get things done digitally on their own if they can. With CXone Expert, we are helping companies apply smart self-service best practices using AI technology to meet consumer demand for faster, more convenient experiences.”

According to the 2020 NICE CXone Customer Experience (CX) Transformation Benchmark, Consumer Wave, 8 in 10 consumers are more willing to do business with companies that offer self-service options, yet only 61 percent agree that companies are offering easy, convenient self-service. When rating self-service channels, only one-third of consumers are highly satisfied. Moreover, half of consumers who start with self-service report they are transferred to a live agent. Two-thirds of those who are transferred say they need to repeat the information they previously provided in the self-service channel. CXone Expert helps close that gap by showing agents what customers have searched for and seen prior to submitting a case, offering a truly seamless omnichannel experience.

CXone takes a holistic approach to improving both agent and customer experiences, helping organizations of all sizes modernize and remain agile and resilient in today’s increasingly digital landscape. CXone provides the most comprehensive digital-first omnichannel offering in the Contact Center as a Service market, as the first and only platform unifying best-in-class omnichannel routing, analytics, workforce optimization, automation, and artificial intelligence on an open cloud foundation.

About NICE

NICE (Nasdaq: NICE) is the world’s leading provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions. www.nice.com

Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Jarman, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the “Company”). In some cases, such forward-looking statements can be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” “estimate,” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions, including as a result of the COVID-19 pandemic; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company’s products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners; cyber security attacks or other security breaches against the Company; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company’s reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.

Contacts

Corporate Media Contact
Christopher Irwin-Dudek, +1 201 561 4442, ET, chris.irwin-dudek@nice.com

Investors
Marty Cohen, +1 551 256 5354, ET, ir@nice.com

Categories
Business

AM Best places credit ratings of members of Lancer Insurance Group under review with developing implications following merger announcement

OLDWICK, N.J. — (BUSINESS WIRE) — AM Best has placed under review with developing implications the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of Lancer Indemnity Company (Long Beach, NY), Lancer Insurance Company (Chicago, IL) and Lancer Insurance Company of New Jersey (Ewing, NJ) (collectively referred to as the Lancer Insurance Group).

This Credit Rating (rating) action follows the recent announcement that Lancer Insurance Group will combine with Core Specialty Insurance Holdings, Inc. (Core Specialty) through a cash and stock deal, structured as a merger. Core Specialty’s subsidiaries include StarStone Specialty Insurance Company and StarStone National Insurance Company (both domiciled in Wilmington, DE).

While Lancer Indemnity Company is a member of the Lancer Insurance Group, it is not being sold and is not part of the merger agreement. Post close, Lancer Indemnity Company will no longer be part of the group or reinsured by Lancer Insurance Company, from which its rating was derived. Separately, AM Best will assign a stand-alone rating to Lancer Indemnity Company once the merger is complete.

The merger was unanimously approved by both companies’ Board of Directors and is expected to complete during the third quarter of 2021, subject to customary regulatory approvals. The under review with developing implications status reflects the potential execution risks associated with the two group’s merging, the need for AM Best to fully assess the financial and operational impacts of the merger, its impact on Lancer Indemnity Company as a separately rated stand-alone entity and the potential synergies recognized from this transaction.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Daniel J. Ryan
Senior Director
+1 908 439 2200, ext. 5325
daniel.ryan@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Edward J. Zonenberg
Senior Financial Analyst
+1 908 439 2200, ext. 5135
edward.zonenberg@ambest.com

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com