Stock Markets
SaskPower, Westinghouse and Cameco Sign MOU to Explore Reactor and Fuel Supply Potential
SASKATOON, Saskatchewan–(BUSINESS WIRE)–Saskatchewan Power Corporation (SaskPower), Westinghouse Electric Company (Westinghouse) and Cameco (NYSE:) Corporation (Cameco) (TSX: CCO; NYSE: CCJ) have signed a memorandum of understanding (MOU) to evaluate the potential of Westinghouse’s nuclear reactor technology and the associated nuclear fuel supply chain required for Saskatchewan’s future clean power needs.
The MOU will explore technical and commercial pathways to deploy Westinghouse’s reactor technology, including the advanced AP1000 ® reactor and AP300™ small modular reactor (SMR), for long-term electricity supply planning. The framework includes evaluation of a Saskatchewan-based nuclear supply chain to support nuclear energy projects, including fuel. It also identifies opportunities to collaborate on nuclear research, development and workforce training in partnership with Saskatchewan’s post-secondary institutions.
SaskPower is expected to make its final investment decision in 2029 whether to proceed with constructing Saskatchewan’s first SMR facility. The utility intends to use Saskatchewan uranium in any reactor constructed in the province.
Leveraging knowledge from organizations that have significant expertise in the nuclear industry is critical to ensure we make responsible, informed decisions around our power future, said Rupen Pandya, President and CEO of SaskPower. Collaborating on nuclear fuel supply and evaluating various technologies will only serve to enhance our current small modular reactor development work and planning around workforce and the future of Saskatchewan’s power system.
The AP1000 reactor is in operation in the U.S. and China, where it is setting operational performance and availability records. It has been selected for the nuclear energy programs in Poland, Ukraine and Bulgaria, and is also under consideration at multiple other sites in Central and Eastern Europe, the United Kingdom (UK), India and North America.
The AP300 modular reactor is the only SMR based on an advanced, large Generation III+ reactor already in operation globally. Westinghouse is targeting design certification by 2027 and for first construction to begin by 2030, with the operating unit planned to be available in the early 2030s. The AP300 SMR has been selected by the UK’s Great British Nuclear program and is under further customer consideration in Europe and North America.
Westinghouse is proud to work with SaskPower to share our industry-leading nuclear technology expertise in support of the province’s clean energy needs, said Patrick Fragman, Westinghouse President and CEO. Our globally deployed advanced AP1000 reactor provides demonstrated superior economic performance and availability, and our AP300 small modular reactor is based on this proven and licensed technology. We look forward to helping SaskPower bring carbon-free electricity to Saskatchewan for generations to come.
Cameco has a proud history and a significant presence in Saskatchewan, from our world-class uranium operations to our large and growing provincial workforce to our long-standing partnerships with northern Indigenous communities, said Tim Gitzel, President and CEO of Cameco. We look forward to assessing the potential role Cameco and Westinghouse could play in decarbonizing Saskatchewan’s power grid, an ambitious and important goal for the province’s future.
About SaskPower
Recognized as one of Saskatchewan’s Top Employers and one of Canada’s Best Diversity Employers, SaskPower is the principal electrical utility for Saskatchewan, serving over a half million customers across an extensive geographic area. Founded in 1929, SaskPower is headquartered in Regina and employs over 3,000 employees across Saskatchewan. SaskPower is committed to enabling growth in the province and continuing economic reconciliation with Indigenous Peoples “ winning several awards and achieving the Canadian Council for Aboriginal Business Progressive Aboriginal Relations (PAR) Gold Status multiple times.
About Westinghouse
Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world’s operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook (NASDAQ:), LinkedIn and Twitter.
About Cameco
Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.
Caution Regarding Forward-Looking Information and Statements
This news release includes statements and information about the expectations of SaskPower, Cameco and Westinghouse for the future, which we refer to as forward-looking information. Forward-looking information is based on our current views, which can change significantly, and actual results and events may be significantly different from what we currently expect. Examples of forward-looking information in this news release include: the expectation that under the MOU the parties will explore pathways to deploy Westinghouse’s reactor technology, including evaluation of a Saskatchewan-based nuclear supply chain; expected opportunities to collaborate on nuclear research, development and workforce training with Saskatchewan’s post-secondary institutions; the expected timing of SaskPower’s final investment decision whether to proceed with constructing the SMR facility, and its intention to use Saskatchewan uranium in any reactor constructed in the province; SaskPower’s expectation that collaboration will enhance its small modular reactor development work, and planning around workforce and the future of Saskatchewan’s power system; the expected dates for design certification, commencement of construction and operating unit availability for the AP300 modular reactor; the anticipated ability of SaskPower to bring carbon-free electricity to Saskatchewan for generations to come; and the assessment of the role that Cameco and Westinghouse could play in decarbonizing Saskatchewan’s power grid. Material risks that could lead to different results include: the risk that the MOU will not result in a successful exploration of pathways to deploy Westinghouse’s reactor technology; the risk that expected opportunities to collaborate on nuclear research, development and workforce training with Saskatchewan’s post-secondary institutions may not be realized; the risk that SaskPower’s final investment decision regarding the SMR facility may not be made when expected; the possibility that SaskPower may not be able to use Saskatchewan uranium to the extent expected; the possibility that collaboration may not enhance SaskPower’s small modular reactor development work and planning to the extent expected; the risk that expected dates for design certification, commencement of construction and operating unit availability for the AP300 modular reactor may not be achieved; the risk that SaskPower may not be able to provide carbon-free electricity to the extent expected; and the risk that Cameco or Westinghouse may not be able to play their expected roles in decarbonizing Saskatchewan’s power grid. In presenting the forward-looking information, we have made material assumptions which may prove incorrect about: our ability to work collaboratively to complete the evaluations and other goals of the MOU; SaskPower’s ability to achieve its various expected target dates and utilize Saskatchewan uranium; and the ability of SaskPower to provide carbon free electricity to the extent expected, and of Cameco and Westinghouse to play their expected roles in decarbonizing Saskatchewan’s power grid. Forward-looking information is designed to help you understand our current views, and it may not be appropriate for other purposes. We will not update this information unless we are required to by securities laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240616503146/en/
Inquiries
SaskPower:
Scott McGregor
media line: 306-536-2886
mediarelations@saskpower.com
Westinghouse:
Brian McCrone
445-289-0409
Brian.McCrone@westinghouse.com
Cameco (investor inquiries):
Rachelle Girard
306-956-6403
rachelle_girard@cameco.com
Cameco (media inquiries):
Veronica Baker
306-385-5541
veronica_baker@cameco.com
Source: Cameco
Stock Markets
BioAge Labs (BIOA) Azelaprag Trial Halt Raises Questions About Pre-IPO Disclosures – Hagens Berman
San Francisco, California–(Newsfile Corp. – December 25, 2024) – On December 9, 2024, just months after conducting an initial public offering in September 2024, BioAge Labs, Inc. (NASDAQ: BIOA) made the startling announcement that it was discontinuing a Phase 2 study for its lead product, azelaprag, intended to treat metabolic diseases such as obesity.
Hagens Berman has opened an investigation and urges investors in BioAge who purchased shares in the company’s IPO or on the open market and suffered substantial losses to submit your losses now.
Visit: www.hbsslaw.com/investor-fraud/bioa
Contact the Firm Now: BIOA@hbsslaw.com
844-916-0895
BioAge Labs, Inc. (BIOA) Investigation:
The investigation is focused on the propriety of BioAge’s disclosures about the safety data and other matters related to azelaprag, which the company said in its IPO documents has been “well-tolerated in 265 individuals across eight Phase 1 clinical trials.”
BioAge’s disclosures came into question after the market closed on December 6, 2024, when the company announced the discontinuation of the STRIDES Phase 2 clinical trial evaluating azelaprag in combination with tirzepatide for the treatment of obesity. BioAge said that liver transaminitis was observed in patients receiving azelaprag.
This news drove the price of BioAge shares down almost 80% on December 9, 2024.
“We’re focused on whether BioAge was transparent to investors about the azelaprag safety profile before the December 6 announcement,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in BioAge and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the BioAge investigation, read more »
Whistleblowers: Persons with non-public information regarding BioAge should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email BIOA@hbsslaw.com.
# # #
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235182
Stock Markets
Celsius Holdings (CELH) Hit with Investor Class Action Amid Accusations of Oversold Inventory to Pepsi- Hagens Berman
CELH Investors with Losses Encouraged to Contact the Firm
San Francisco, California–(Newsfile Corp. – December 25, 2024) – Celsius Holdings (NASDAQ:), Inc. (NASDAQ: CELH) and certain of its C-Suite officers are embroiled in a securities class action lawsuit, claiming they misrepresented and concealed crucial information about the company’s financial performance, especially concerning its key customer, PepsiCo (NASDAQ:).
Hagens Berman is investigating the allegations and urges investors in Celsius who purchased shares and suffered substantial losses to submit your losses now.
Class Period: Feb. 29, 2024 – Sept. 4, 2024
Lead Plaintiff Deadline: Jan. 21, 2025
Visit: www.hbsslaw.com/investor-fraud/celh
Contact the Firm Now: CELH@hbsslaw.com
844-916-0895
Celsius Holdings, Inc. (CELH) Securities Class Action (WA:):
The lawsuit alleges that during the Class Period, Celsius failed to disclose to investors several critical points:
- Oversold Inventory: Celsius significantly oversold inventory to Pepsi beyond demand, leading to a potential drastic reduction in future purchases.
- Declining Sales: As Pepsi depleted its overstock, Celsius’ sales were projected to decline, impacting its financial health and outlook.
- Unsustainable Sales Rates: The sales rates to Pepsi were unsustainable and created a misleading impression of the company’s performance.
- Misleading Metrics: Consequently, Celsius’ business metrics and financial prospects were overstated
The situation came to light on May 28, 2024, when Celsius’ stock price plummeted nearly 13% following reports from Nielsen indicating slowed sales growth. Analysts highlighted the possibility of significantly reduced sales as Pepsi cut back its inventory.
The stock took another hit on September 4, 2024, dropping over 11% after a company presentation revealed a shortfall of $100 million to $120 million in Pepsi orders compared to the previous year. It was also disclosed that Pepsi had held several million excess cases over the last 18 months.
These revelations have led shareholder rights firm Hagens Berman to investigate the allegations.
“We’re investigating whether Celsius deliberately painted an overly optimistic picture of its relationship with Pepsi, misleading investors about the true state of its financial health and sales sustainability,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Celsius and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the Celsius case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding Celsius Holdings should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email CELH@hbsslaw.com.
# # #
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235180
By Ank Kuipers
PARAMARIBO (Reuters) -Suriname’s fugitive former President Desi Bouterse has died aged 79, the country’s government said on Wednesday, almost a year after he fled authorities to avoid jail following his conviction over the murder of 15 political activists in 1982.
“The government has been informed through the family and its own investigations of the passing of Mr. D. Bouterse, ex-President of the Republic of Suriname,” Foreign Minister Albert Ramdin told Reuters.
The former leader died on Tuesday, the government said, without confirming where, or even in which country. Last week Surinamese authorities raided his home – where supporters gathered to pay their respects on Wednesday morning – but did not find him.
Surinamese President Chan Santokhi, who investigated the case as a police commissioner and later as justice minister, expressed condolences to Bouterse’s family and urged calm in a statement.
“In the spirit of the holiday season and year-end, the president calls on all to remain dignified and calm, maintain peace and order and engage in prayer in the spirit of these special days,” the statement said.
Bouterse dominated politics in the tiny South American country for decades, leading a coup in 1980 and finally leaving office in 2020.
In 2019 he and six others were convicted for their role in the 1982 murders of 15 leading government critics – including lawyers, journalists, union leaders, soldiers and university professors – for which Bouterse received a 20-year prison sentence.
Bouterse had claimed the murdered men were connected to a planned invasion of the former Dutch colony.
Following years of legal back and forth, Bouterse was ordered to report to prison in January but he did not show up on the appointed date.
Though Bouterse avoided prison by going on the run, Reed Brody, a U.S. war crimes prosecutor who monitored the case for the International Commission of Jurists, said justice had caught up with the convicted former president before he died.
“Thanks to the victims’ relatives and their supporters who never gave up, Bouterse will go down in history as a convicted murderer,” Brody said.
The former president’s family will make a statement later on Wednesday, members of his political party told journalists.
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