Ship traffic Due to arrive today SHIP FROM PORT APL Sentosa Los Angeles OAK Chesapeake Highway Long Beach BNC Dorado Leader Mazatlan, Mexico SFO Ever Lyric Los Angeles OAK Global Mermaid Nanjing, China SCK Humber Bridge Los Angeles OAK Hyundai Shanghai Long Beach OAK London Express Long Beach OAK Maersk Antares Los Angeles OAK NYK Diana Los Angeles OAK NYK Rigel Vancouver, B.C. OAK Due to depart today SHIP TO PORT Ever Lasting Tacoma OAK President Eisenhower Yokohama, Japan OAK YM Maturity Keelung, Taiwan OAK Source: S.F. Marine Exchange Reported by SFGate 20 hours ago.

Ship traffic Due to arrive today SHIP FROM PORT Ever Lasting Los Angeles OAK President Eisenhower Los Angeles OAK YM Maturity Los Angeles OAK Due to depart today SHIP TO PORT APL Danube Hong Kong OAK Columbia Highway Portland RCH CSCL South China Sea Xingang, China OAK Kauai Honolulu OAK MSC Katrina Vostochnyy, Russia OAK San Diego Bridge Busan, South Korea OAK Source: S.F. Marine Exchange Reported by SFGate 20 hours ago.

KEMP, Texas, Nov. 29, 2018 (GLOBE NEWSWIRE) -- Larson Electronics, a Texas-based company with over 40 years of experience spearheading the industrial lighting sector, announced the release of a temporary work area LED light string for mining or tunnel locations, consisting of 130 LED lamps producing a total of 136,500 lumens. This temporary string light is designed for high output illumination and daisy chain connections across a total length of 1,300 feet away from the power source, ideal for tunnels and underpasses.The WAL-SL-MJ-130-LED-10.4-L22 temporary tunnel LED string light features 130 A19 style LED lamps with 10 feet of 10/4 SOOW cable between each lamp, creating a string light that stretches 1,300 feet in length. Each light is a mason jar style lamp equipped with a high output 10-watt LED suitable for standard and low voltage applications. Each LED screws into an E26 lamp socket and is enclosed in a birdcage style metal guard with a housing made of copper-free aluminum and fitted with a tempered glass diffuser. Each LED light produces 1,050 lumens of light for a total of 136,500 lumens of bright white illumination.

This unit is connected to a 277V power source with an integrated five-foot line-in cable that also comes with five feet of output whip. This string light features quick disconnects every 325 feet and operators are provided access to L22-30P and L22-30C cord caps for electrical connections. A maximum of 15 stringers can be daisy chained together with 10-foot whips terminated in twist lock connectors. This is enough string lights for a total length of over 6,000 feet, incredible length for temporary tunnel applications.

With wet area approval, this string light can be used in damp underground locations and features rear-mounted brackets for easy hanging and a hook eyelet on the back of each lamp for easy positioning overhead.

*About Larson Electronics LLC: *Larson Electronics LLC is a manufacturer of industrial lighting equipment and accessories. The company offers an extensive catalog of industry-grade lighting and power distribution products for the following sectors: manufacturing, construction, food processing, oil and gas, military, marine and automobile. Customers can benefit from the company’s hands-on, customized approach to lighting solutions. Larson Electronics provides expedited service for quotes, customer support and shipments.

*For further information, please contact:*

Rob Bresnahan, President and CEO

Toll-free: 1-888-351-2363

Int’l: 214-616-6180

Fax: 903-498-3364

E-mail: sales@larsonelectronics.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a0acc582-8927-458e-afa1-4a43df0532e7 Reported by GlobeNewswire 17 hours ago.

Canada's National Energy Board was instructed by the courts to hear out First Nation concerns, as well as effects the pipeline expansion would have on orcas and marine environment. Reported by Seattle Times 16 hours ago.

Westboro, MA-based data destruction equipment manufacturer partners with Habitat for Humanity to support local veteran family

WESTBOROUGH, Mass. (PRWEB) November 29, 2018

On November 28, 2018, Security Engineered Machinery Co., Inc. (SEM), global leader in high security information end-of-life solutions, participated in Operation Playhouse, a unique program offered through Habitat for Humanity Metrowest/Greater Worcester. Operation Playhouse enables local businesses and organizations to build and donate a custom playhouse to benefit the children of local veterans and military personnel. The one-day event culminated with the presentation of the firetruck-themed playhouse to United States Marine Corps Operation Iraqi Freedom combat veteran Richard Brown and his family.

The event started at 9am onsite at SEM corporate headquarters in Westboro. SEM employees volunteered to participate in various tasks including painting, constructing, roofing, and decorating the playhouse as well as building accessories. Several authentic firetruck items were donated by the Boston and Dunstable fire departments for use in the playhouse. The construction was overseen by David Hamilton, Community Program Manager for Habitat for Humanity. Veteran Richard Brown and his family, from Dunstable, MA, arrived at 3:30pm to receive the playhouse. Nicholas Cakounes, Executive Vice President of SEM, made the presentation.

“Veterans have a special place in our heart here at SEM,” said Mr. Cakounes. “We are filled with gratitude to those who have served our country and protect our freedom, so giving back in some small way through Operation Playhouse was an absolute honor.”

“This event was incredibly special to me personally,” added Korean War Veteran Leonard Rosen, who is SEM’s founder and Chairman of the Board. “Mr. Brown selflessly served his country, ensuring our rights and freedom. That is a debt we can never repay, so we were thrilled to be able to do something to bring joy to him and his family.”

SEM is a veteran-owned company whose primary client base is the United States Federal Government and its entities, including all branches of the United States Military.

About SEM
Security Engineered Machinery Co., Inc. (SEM) provides comprehensive end-of-life solutions for the protection of sensitive information in government and commercial markets. SEM’s reputation as the authority in high security information sanitization was earned through over 50 years of technical innovation, intellectual curiosity, and unrelenting integrity. By fostering a supportive, team-centric environment focused on talent retention and client satisfaction, SEM is recognized as the undisputed leader in depth of expertise, industry excellence, and reliability. SEM data destruction devices are the premier high security choice available on the market today. For more information, please visit http://www.semshred.com. Reported by PRWeb 16 hours ago.

MONTREAL, Nov. 29, 2018 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF), a TSX Venture 50® high-tech company, (the "Company", the “Corporation” or "PyroGenesis") a Company that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, is pleased to announce today its financial and operational results for the third quarter ended September 30, 2018.“Results to date reflect both a decrease in revenues and increase in expenses in large part due to the Company’s decision to redeploy assets from paying projects to nonpaying projects with the goal of meeting certain benchmark/tests which would enable the Company to enter strategic relationships with significant market players,” said Mr. P. Peter Pascali, President and CEO of PyroGenesis Canada Inc. “We have seen the first results of this with the recently announced signing with a Japanese corporation (Revenues > Can$5.4 Billion; Profit > Can$2.0 Billion; Assets > Can$25 Billion; Subsidiaries & Affiliates: > 400) to move forward to jointly toll DROSRITE^TM worldwide. We fully expect to have similar success within our additive manufacturing sector (3D Printing) within the ensuing weeks.”

Q3, 2018 results reflected the following highlights:

· Revenues of $1.1MM in Q3, 2018, a decrease of 46% from $2.MM posted in Q3, 2017;
· Gross margin of 23% a decrease of 34.1% over the same period in Q3, 2017;
· A Modified EBITDA loss of $1.6MM compared to a Modified EBITDA gain of $91K over the same period in Q3, 2017;
· Backlog of signed contracts as of the date of this writing is $6.7MM;
· Cash on hand on September 30, 2018 was $1.8MM (December 31, 2017: $623K).

The following is a summary of PyroGenesis’ main activities.

*Synopsis:*

· Powder Production:

· Nominated “Materials Company of the Year” at the 3D Printing Industry Awards 2018,
· Contracted for an order of 10 tons (minimum) of titanium powders,
· Recommended by leading 3D Printer OEM to their customers as titanium powder supplier;
· Strategic commercial discussions with 3D printer manufacturers, distributors, and end-users continue.
· New Additive Manufacturing metal powder production facility
· AS9100D Certified
· Discussions with significant players to accelerate market penetration
· DROSRITE™:

· Construction of second demonstration unit in progress; Completion expected over the next two (2) months,
· Enters the Zinc Market; first DROSRITE™ zinc paid-for-demonstration,
· Second DROSRITE™ Furnace System Completed,
· Embraces Tolling Strategy; Signing with multi-billion-dollar Japanese corporation to move forward to jointly toll with DROSRITE™
· HPQ:

· HPQ secures financing for the balance of the project;
· Pilot Plant in progress after significant improvements.
 

· US Military:

· Interest for two (2) US Aircraft Carrier systems received ($10-12MM); Order expected Q1-2019,
· Seeking to establish a presence in the USA to, amongst other things, better serve the US Military’s needs.
 

· Torch/Equipment Sales:

· PyroGenesis continues to address interest for plasma torch/equipment,
· Announced $745,000 Plasma Torch System Contract with a European Entity

A) DROSRITE™:

As the Company positioned itself, during 2017, to become a significant powder producer to the Additive Manufacturing industry, it also successfully positioned its DROSRITE^TM furnace system to become a fully commercial product line in and of its own right.

2017 saw the commercial acceptance of PyroGenesis’ patented DROSRITE™ system with, not only an acceptance of its first commercial sale, but a subsequent re-order by the same client at a higher price. Since that time a separate client has ordered 2 additional systems, the Company’s demonstration system is fully booked and a second is being constructed.

PyroGenesis originally focused on selling systems by aggressively targeting both primary aluminum smelters, as well as tertiary casting producers worldwide. During this time the Company also added zinc recovery from dross as a target market.

At the request of several smelters, PyroGenesis started to consider tolling arrangements. A tolling service agreement is one in which a smelter provides dross to a third party to be processed either on or off-site. In our case, PyroGenesis would provide a tolling service using its proprietary DROSRITE^™ system to process the dross and recover valuable metals for a fee. The benefits would be shared with the smelter.

It quickly became apparent to the Company that the best way to maximize the return from its DROSRITE™ product line would be to enter into tolling service agreements with smelters. 

PyroGenesis is currently in various stages of negotiating tolling service agreements with four (4) different smelters for a total of eleven (11) 5,000 tpd DROSRITE^TM furnace systems dedicated to tolling. Each 5,000 tpd DROSRITE^TM furnace system has the potential to generate approx. $3.7 million of annual recurring benefits.  

Tolling has become the most important element in PyroGenesis’ overall strategy. It provides for higher recurring revenues over a longer period of time. With long term contacts in hand, it also de-risks the technology from the customary threats, which a strategy of selling systems alone would be challenged with.

In order to accelerate this tolling strategy, the Company announced on November 6^th, 2018 that it had signed with a Japanese multi-billion-dollar corporation (Revenues > Can$5.4 Billion; Profit > Can$2.0 Billion; Assets > Can$25 Billion; Subsidiaries & Affiliates: > 400) to move forward to jointly toll worldwide. It is expected that this arrangement, with a large multi-national corporation, who has the experience, organizational depth, balance sheet, and credibility required to execute this strategy, will accelerate our time to market. 

B) Powder Production:

2018 became the year in which the Company went from relative obscurity within the additive manufacturing industry, to being nominated “Materials Company of the Year” at the 3D Printing Industry Awards. 

Not only, during this period,  did the Company successfully assemble and commission its first metal powder production system, but also (i) successfully delivered orders for Titanium and Inconel powders, all while still in the ramp up phase, (ii) generated new, game changing, IP which provides for more control over particle size distribution, with little to no waste, while increasing powder production even further, and (iii) entered into several NDA’s with significant players in the industry (end users, printer manufacturers, and distributors) all with a view of providing sample orders, repeat orders, long term orders, contract R&D, and/or strategic partnerships for long term powder supply contracts, some with a view to a possible acquisition. Given the level of activity, and the prospect of significant orders in the near term, management decided to order the long lead items for two powder production systems, both of which were scheduled to be fully operational before the end of September 2018-beginning of October 2018. There were additional small delays as personnel were reallocated to more important needs, the nature of which should be disclosed by year end. We now expect these systems to be operational over the next few weeks. These units will incorporate some of the cutting-edge IP that has recently been developed and/or is in development. We expect these units will cost significantly less to manufacture, generate higher production rates, and provide greater control over particle size distributions.

Of note, although the Company’s strategic plan has always been based on its existing IP, know-how, and system (the economics of which remain true to this day), management has decided to leverage off of its significant advantage in plasma technology and dedicate certain limited assets to increasing its IP base with the goal of further significantly reducing capital and operating costs of the powder production system while at the same time improving production rates even further. PyroGenesis is confident that these goals once achieved will significantly impact the build out strategy for the better.

The Company’s press release dated May 17^th, 2018 (which announced a commercial agreement for a minimum order of 10,000 kg of Titanium powder over two years from Asia), together with those issued on August 14^th and 20^th (which announced results of powder testing by a top OEM as well as their recommendation to their clients to use such powder), has underscored the need for PyroGenesis to be even more focused than ever before on addressing market demand for its powder.

The Company decided to have, at the ready, an optimum industrialization plan for multiple powder production units (in multiples of 1, 3, and 5 units), to be executed on the back of a significant take-or-pay contract. This has now been completed and the Company is continuing to look at ways to accelerate the technological advances mentioned above.

PyroGenesis has mentioned on several occasions that the Company has been looking to partner with significant players in the industry who bring credibility to its product offering, provide a strong balance sheet plus the integrity that comes with working in the industry for many years, all with the sole purpose of accelerating PyroGenesis’ market penetration with a quality product.

This strategy of teaming up with significant players has worked well for the Company in dealings with the US Military for its waste management vertical, and it is expected that the recently announced relationship with a multi-billion-dollar Japanese trading house will work equally well for the DROSRITE™ product line. In both cases these partnerships not only provided validation of PyroGenesis’ product lines, but also provided a strong balance sheet, and a knowledge and business depth within their respective industries.

Management believes that the Company is in the final days/weeks of concluding a similar arrangement with a global player in the AM industry and expects something definitive to be signed by year end.

C) US Military:

Originally it was thought that just one new US Aircraft Carrier would be ordered in 2018, with an estimated value of approximately $6MM, but the interest is now for two, for an estimated value of between $10-12 MM. This contract is now expected Q1 2019.

The chemical warfare destruction unit, that PyroGenesis developed for a consortium involving various groups within the US military, and was in the process of being tested, continues to have its schedule delayed accommodating other unrelated testing needs by the group. This testing timeline is out of the Company’s control.

Revenues from military contracts in 2017 were over $4,300,000, mainly related to providing technical support, training services and sale of spare parts. Over the past three years, revenues from military contracts have typically represented more than $2,000,000 per year of PyroGenesis’ revenues. As the PAWDS technology becomes fully operational on US Navy ships, management expects the level of recurring revenues from the sale of parts and services to increase over the next 2 to 5 years.

The Company is looking at ways to establish a presence in the USA to, amongst other things, better serve the US Military’s needs arising from having multiple systems in operation.

D) HPQ:

On August 2^nd, 2016, PyroGenesis announced that it had signed contracts totaling $8,260,000 with HPQ Silicon Resources Inc., formally Uragold Bay Resources Inc. (“HPQ”) for the sale of IP and to provide a pilot system to produce high purity silicon metal directly from quartz. Of particular note, if successful, PyroGenesis benefits from a 10% royalty on all revenues derived from the use of this system by HPQ, subject to annual minimums.

E) Torch/Equipment Sales:

Consistent with the Company’s overall strategy to (i) remain focused on reducing PyroGenesis’ dependency on long-cycle projects by developing a strategic portfolio of volume driven, high margin/low risk products that resolve specific problems within niche markets and doing so by introducing these plasma-based technologies to industries that have yet to consider such solutions, and (ii) to actively target recurring revenue opportunities that will generate a growing, and profitable, regular cash flow to the Company, the Company continues to market its torch/equipment capabilities and expects this to start becoming a revenue contributor, with its recurring revenue stream, in the very near future. The recent torch sale announced on October 23^rd, 2018 is a good example of this.

PyroGenesis has one of the largest concentrations of plasma expertise in the world, with over 250 years of accumulated technical experience and supporting patents, combined with unique relationships with major universities performing cutting edge plasma research and development, positions the Company well to execute its strategies.

Management’s focus will continue to be to generate an improved mix of short and long-term projects that will, in turn, facilitate operational and financial planning. Repeat orders for the same, or similar, products will further result in the standardization of manufacturing processes which will lead to improved gross margins.

*Financial Summary *

*Revenue *

PyroGenesis recorded revenue of $1,097,726 in the third quarter of 2018 (“Q3, 2018”), representing a decrease of 46% compared with $2,026,557 recorded in the third quarter of 2017 (“Q3, 2017”). Revenues recorded in Q3, 2018 were generated primarily from:

1. the development of a process to convert Silica into high purity Silicon metal;
2. the manufacture and sale of a DROSRITE™ System;
3. support services related to PAWDS-Marine Systems supplied to the US Navy.

*Cost of Sales and Services and Gross Margins *

Cost of sales and services was $845,575 in Q3, 2018, representing a decrease of 3% compared with $870,352 in Q3, 2017.

In Q3, 2018 cost of direct materials and manufacturing overhead decreased to $23,845 (Q3, 2017: $153,988), $163,951 (Q3, 2017: $279,656) respectively, while subcontracting increased to $291,817 (Q3, 2017 - $9,123).

The gross margin for Q3, 2018, was $252,151, or 23% of revenue. This compares with a gross margin of $1,156,205 (57.1% of revenue) for Q3, 2017.

The type of contracts being executed and the nature of the project activity during any given quarter has a significant impact on both the overall level of cost of sales and services reported in a period, as well as the composition of the cost of sales and services, as the mix between labor, materials and subcontracts may be significantly different.

*Selling, General and Administrative Expenses *

Included within Selling, General and Administrative expenses (“SG&A”) are costs associated with corporate administration, business development, project proposals, operations administration, investor relations and employee training.

SG&A expenses for Q3, 2018 excluding the costs associated with share-based payments (a non-cash item in which options vest over a four-year period), were $1,696,158, representing an increase of 68% compared with $1,009,044 reported for Q3, 2017.

The increase in SG&A expenses in Q2, 2018 over the same period in 2017 is mainly attributable to the net effect of:

· an increase of 48% in employee compensation,
· an increase of 187% for professional fees, primarily due to an increase in consulting fees,
· an increase of 18% in office and general expenses, due to an increase in courses, seminar, computers and internet expenses,
· travel costs decreased by 11%, due to less travels abroad,
· depreciation on property and equipment increased by 58%, primarily due to an increase in plant and equipment assets. The asset under development in Q3, 2018 will begin to be depreciated when the asset is available or ready for use,
· government grants increased by 337% due to higher level of activities supported by such grants and,
· other expenses increased by 106%, primarily due to higher cost of freight and shipping.

Separately, share based payments increased by 34% in Q3, 2018 over the same period in 2017 as a result of the vesting structure of the stock option plan including the stock options offered on July 3, 2018.

*Research and Development (“R&D”) Costs*

The Company incurred $177,405 of R&D costs in Q3, 2018, compared with $82,951 in Q3, 2017, representing an increase of 114%.

In addition to internally funded R&D projects, the Company also incurred R&D expenditures during the execution of client funded projects. These expenses are eligible for Scientific Research and Experimental Development (“SR&ED”) tax credits. SR&ED tax credits on client funded projects are applied against cost of sales and services (see “Cost of Sales” above). Investment tax credits recorded against cost of sales are primarily related to client funded projects that qualify for tax credits from the provincial government of Quebec. Qualifying tax credits decreased to $106,188 in Q3, 2018, compared with $88,336 in Q3, 2017. This represents an increase of 20%. The Company continues to make investments in research and development projects involving strategic partners and government bodies.

*Inventory*       

The Company’s inventory increased by $2,889 in Q3, 2018, compared with Nil in the same period in 2017.

*Net Comprehensive Loss *

The loss from operations and comprehensive loss for Q3, 2018 was $2,758,835 compared to $360,083 in Q3, 2017 representing an increase of 665% year-over-year.

The increase in net comprehensive loss in Q3, 2018 compared to the same period in 2017 is primarily attributable to a decrease in revenue of $928,831 and by the factors described above, which have been summarized as follows:

1. a decrease in cost of sales and services totaling $24,777 in Q3, 2018;
2. an increase of SG&A expenses of $738,790 arising in Q3, 2018 as explained above;
3. an increase in R&D expenses of $94,454 primarily due to research and development in Q3, 2018 on plasma atomization;
4. an increase in net finance costs of $661,454 in Q3, 2018 due to a decrease in the fair value of investments of $655,651.        

*EBITDA *

The EBITDA loss in Q3, 2018 was $2,538,215 compared with an EBITDA loss of $161,420 for Q3, 2017, representing an increase of 1472%. The increase in the EBITDA loss in Q3, 2018 compared with the same period in 2017 is primarily attributable to lower revenues, an increase in comprehensive loss of $2,398,752, an increase in depreciation on property and equipment of $15,828, and an increase in finance charges of $6,129 in Q3, 2018.

Adjusted EBITDA loss in Q3, 2018 was $2,334,831 compared with an Adjusted EBITDA loss of $9,712 for Q3, 2017. The increase of $2,325,119 in the Adjusted EBITDA loss in Q3, 2018 is mainly attributable to the increased EBITDA loss of $2,376,795, and an increase of $51,676 in share-based payments.

Modified EBITDA loss in Q3, 2018 was $1,578,081 compared with a Modified EBITDA gain of $91,387 for Q3, 2017. The increase of $1,669,468 in the Modified EBITDA loss in Q3, 2018 is mainly attributable to the increase in the Adjusted EBITDA loss of $2,325,119 and a decrease in the change in fair value of investments of $655,651.

*Liquidity *

The Company has incurred, in the last several years, operating losses and negative cash flows from operations, resulting in an accumulated deficit of $48,523,228 and a negative working capital of $3,651,136 as at September 30, 2018 (December 31, 2017 - $43,200,708 and $9,403,370 respectively). Furthermore, as at September 30, 2018, the Company’s current liabilities and expected level of expenses for the next twelve months exceed cash on hand of $1,833,036 (December 31, 2017 - $622,846). The Company has relied upon external financings to fund its operations in the past, primarily through the issuance of equity, debt, and convertible debentures, as well as from investment tax credits.

As at September 30, 2018, the Company had cash on hand of $1,833,036 and negative working capital of $3,651,133 compared with a cash balance of $622,846 and negative working capital of $9,403,370 as at December 31, 2017.

Revenue generated from active projects does not yet produce sufficient positive cash flow to fund operations. However, based on current backlog of $6.7MM at November 28, 2018, together with the pipeline of prospective new projects, cash flow from operations are expected to become positive in the very near future.

*About PyroGenesis Canada Inc.*

PyroGenesis Canada Inc., a TSX Venture 50^® high-tech company, is the world leader in the design, development, manufacture and commercialization of advanced plasma processes and products. We provide engineering and manufacturing expertise, cutting-edge contract research, as well as turnkey process equipment packages to the defense, metallurgical, mining, advanced materials (including 3D printing), oil & gas, and environmental industries. With a team of experienced engineers, scientists and technicians working out of our Montreal office and our 3,800 m^2 manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. Our core competencies allow PyroGenesis to lead the way in providing innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. Our operations are ISO 9001:2015 and AS9100D certified, having been since 1997. PyroGenesis is a publicly-traded Canadian Corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace. For more information, please visit www.pyrogenesis.com

This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "in the process" and other similar expressions which constitute "forward- looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Corporation's current expectation and assumptions and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Corporation with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Corporation's ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Corporation undertakes no obligation to publicly update or revise any forward- looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the OTCQB accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc.

For further information please contact: Clémence Bertrand-Bourlaud, Marketing Manager/Investor Relations, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com  

RELATED LINKS: http://www.pyrogenesis.com/ Reported by GlobeNewswire 12 hours ago.

(2018-11-30) Kitron has entered into an agreement with API Technologies Corp. to acquire its EMS division in the United States. The acquisition marks a substantial strengthening of Kitron's position in the US market.

"The transaction will significantly strengthen our position in the US market, particularly within the defence industry. Important customers have wanted us to expand our presence in the US, and we think this is a great opportunity to do so," said Peter Nilsson, CEO of Kitron.

The operations of the EMS division are highly complementary to Kitron's existing operations and are expected to provide added value to current operations, in particular in the United States. The division's main focus is on defence, aerospace, medical/industrial, and communications/consumer, and it is well aligned with Kitron's overall strategy. The business is located in Windber, Pennsylvania, close to Kitron's current US facility in Johnstown, Pennsylvania, with approximately 100 employees operating a total of six production lines and a facility of approximately 10 000 square meters. Total revenues in 2017 amounted to approximately USD 30 million.

"We have studied this business carefully over time and see great potential for integrating the API EMS division with the Kitron group, having EMS as its core business. It has a very interesting customer base, a promising order book and a highly skilled staff. We expect the division to generate an operating profit on a stand-alone basis going forward, and see substantial potential for further profitability improvements by joining forces with Kitron and increasing utilization," Mr Nilsson said.

The purchase price is USD 15.9 million in cash, equal to net asset value, which is financed through existing bank arrangements. Closing is expected to take place in the first quarter of 2019, subject to necessary governmental approvals. Kitron expects the transaction to be earnings neutral in 2019 and earnings enhancing in 2020 and beyond.

Please refer to the attached detailed stock exchange announcement for more information regarding the transaction.

*For further information, please contact:*
Peter Nilsson, President and CEO, tel. +47 94 84 08 50
Cathrin Nylander, CFO, tel: +47 900 43 284
E-mail: investorrelations@kitron.com

*Kitron* is one of Scandinavia's leading electronics manufacturing services companies for the Energy/Telecoms, Industry, Defence, Medical devices and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenues of approx. NOK 2.4 billion in 2017 and has about 1,450 employees. www.kitron.com

This information is subject to the disclosure requirements set out in section 5 -12 of the Norwegian Securities Trading Act, and section 3-4 of the Oslo Stock Exchange continuing obligations for listed companies.

*Attachment*

· Attachment - Extended Stock exchange notice.pdf Reported by GlobeNewswire 9 hours ago.

Jakarta (AFP) Nov 30, 2018

Residents on a string of coral-fringed islands off Jakarta's coast are battling a tidal wave of trash, with more than 40 tons of rubbish collected daily over the past week, an official said. Indonesian authorities have deployed an army of staff and a fleet of boats to help clear rubbish-infested shorelines and surrounding waters, underscoring the Southeast Asian archipelago's mammoth marine Reported by Terra Daily 8 hours ago.

Dublin, Nov. 30, 2018 (GLOBE NEWSWIRE) -- The "Global Inventory Tags Market Analysis & Trends - Industry Forecast to 2027" report has been added to *ResearchAndMarkets.com's* offering.

The Global Inventory Tags Market is poised to grow strong during the forecast period 2017 to 2027

Some of the prominent trends that the market is witnessing include online shopping and growing e-commerce companies, innovations in inventory management solutions and demand for advanced inventory tracking and management solutions.

The study provides historical market data for 2015, 2016 revenue estimations are presented for 2017 and forecasts from 2018 till 2027. The study focuses on market trends, leading players, supply chain trends, technological innovations, key developments, and future strategies. With comprehensive market assessment across the major geographies such as North America, Europe, Asia Pacific, Middle East, Latin America and Rest of the world the report is a valuable asset for the existing players, new entrants and the future investors.

*Scope of the Report*· Based on the Technology, the market is divided into Barcodes, Radio Frequency Identification Device and Other Technologies. Radio Frequency Identification Device segment is further divided into Low Frequency RFID, High Frequency RFID, and Ultra High Frequency RFID. Other Technologies are further segmented into QR codes, Tags.
· Based on the Label Type, the market is divided into plastic, vinyl, Paper, Metal and Other Label Types. Metal segment is further divided into Stainless Steel, Aluminum. Other label types are divided into Cloth Labels, Glass Labels.
· Depending on Printing Technology, the market is segmented into Digital Printing, Flexography Printing, Lithography Printing, Screen Printing, Gravure Printing, Letterpress Printing, Offset Printing and Other Printing Technologies. Other Printing Technologies are again divided into Direct Thermal Printing, Thermal Transfer Printing.
· On the basis of End Users, the market is divided into Industrial, Retail, Transportation & Logistics and Other End Users. Other end users are further divided into Marine, Aerospace, SME's and Military Warehouses. This industry report analyzes the market estimates and forecasts of all the given segments on global as well as regional levels presented in the research scope.

*Report Highlights:*

· The report provides a detailed analysis on current and future market trends to identify the investment opportunities
· Market forecasts till 2027, using estimated market values as the base numbers
· Key market trends across the business segments, Regions and Countries
· Key developments and strategies observed in the market
· Market Dynamics such as Drivers, Restraints, Opportunities and other trends
· In-depth company profiles of key players and upcoming prominent players
· Growth prospects among the emerging nations through 2027
· Market opportunities and recommendations for new investments

*Key Topics Covered:*

*1 Market Outline*
1.1 Research Methodology
1.2 Market Trends
1.3 Regulatory Factors
1.4 Application Analysis
1.5 End User Analysis
1.6 Strategic Benchmarking
1.7 Opportunity Analysis

*2 Executive Summary*

*3 Market Overview*
3.1 Current Trends
3.1.1 Online Shopping And Growing E-Commerce Companies
3.1.2 Innovations In Inventory Management Solutions
3.1.3 Demand For Advanced Inventory Tracking And Management Solutions
3.1.4 Growth Opportunities/Investment Opportunities
3.2 Drivers
3.3 Constraints
3.4 Industry Attractiveness

*4 Inventory Tags Market, By Technology*
4.1 Barcodes
4.2 Radio Frequency Identification Device
4.2.1 Low Frequency RFID
4.2.2 High Frequency RFID
4.2.3 Ultra High Frequency RFID
4.3 Other Technologies
4.3.1 QR codes
4.3.2 Tags

*5 Inventory Tags Market, By Label Type*
5.1 Plastic
5.2 vinyl
5.3 Paper
5.4 Metal
5.4.1 Stainless Steel
5.4.2 Aluminum
5.5 Other Label Types
5.5.1 Cloth Labels
5.5.2 Glass Labels

*6 Inventory Tags Market, By Printing Technology*
6.1 Digital Printing
6.2 Flexography Printing
6.3 Lithography Printing
6.4 Screen Printing
6.5 Gravure Printing
6.6 Letterpress Printing
6.7 Offset Printing
6.8 Other Technologies
6.8.1 Direct Thermal Printing
6.8.2 Thermal Transfer Printing

*7 Inventory Tags Market, By End User *
7.1 Industrial
7.2 Retail
7.3 Transportation & Logistics
7.4 Other End Users
7.4.1 Marine
7.4.2 Aerospace
7.4.3 SME's
7.4.4 Military Warehouses

*8 Inventory Tags Market, By Geography*

*9 Key Player Activities*
9.1 Acquisitions & Mergers
9.2 Agreements, Partnerships, Collaborations and Joint Ventures
9.3 Product Launch & Expansions
9.4 Other Activities

*10 Leading Companies*· Honeywell International
· Hewlett-Packard Company
· 3M
· Avery Dennison Corporation
· Alien Technology
· Brady
· Tyco Sensormatic
· Confidex
· Checkpoint Systems
· Invengo Technology
· Motorola Solutions
· NXP Semiconductors
· SATO
· SMARTRAC
· General Data
· Zebra Technologies Corporation

For more information about this report visit https://www.researchandmarkets.com/research/djjrxs/global_inventory?w=12
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT:
CONTACT: ResearchAndMarkets.com
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
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Related Topics: Supply Chain Management Reported by GlobeNewswire 6 hours ago.

Dublin, Nov. 30, 2018 (GLOBE NEWSWIRE) -- The "Global Sulfur Recovery Technology Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2018 To 2026" report has been added to *ResearchAndMarkets.com's* offering.

The global Sulfur Recovery Technology market accounted for US$ 1,576.7 Mn in 2017, expanding at a CAGR of 9.0% from 2018 to 2026.

*Market Insights*

Sulfur is recovered majorly as a byproduct of oil & gas industry. Sulfur is removed from coal gasification process so as to prevent catalyst poisoning and corrosion formation among downstream component. Moreover, the recovered sulfur has multiple end-use applications such as in fertilizers, rubbers, pharmaceuticals and cosmetics industries amongst Others'. Therefore, growing demand for sulfur has prompted the refining industry to move towards sulfur recovery processes such as ultra-desulfurization for gasoline and diesel.

The stringent environmental regulations and rise of contaminated gas containing oxides of sulfur has led to adoption of better technologies among oil and gas industry worldwide. Industry leaders such as Jacobs have devised Super Claus and EuroClaus technologies which exhibit sulfur recovery rate of 99.5% to 99.8%.

The Super Claus Process is designed to overcome the major disadvantage of Claus Process (sulfur recovery efficiency of up to 95%). New emission regulations, growing demand for sulfur recovery has further led to the adoption of Super Claus Process. Sulfur compounds are present naturally in crude oil and therefore exists in their derivatives. Sulfur in gasoline hampers the effectiveness of emission control systems thereby further contributing to air pollution.

Shipping is the dominant emission source of sulfur as it has resulted from the combustion of marine fuels. Shipping industry is the largest consumer of lowest grades of fuel thus contributing to maximum share of release of harmful/toxic gases into the environment. These emissions have been regulated by International Maritime Organization (IMO) through the International Convention for the Prevention of Pollution from Ships (MARPOL).

These regulations have mitigated emissions by means of changing fuel type or exhaust gas cleaning systems. Sulfur recovery through a multistage process involves high operational expenditure. Thus, cost factor has been a major restraint holding back the growth of the sulfur recovery market. Refineries are adopting specialized tail gas treatment recovery process which in turn serves as opportunity for the market during the forecast period from 2018 to 2026.

The global Sulfur Recovery Technology market has been segmented by technology, source of recovery, capacity and geography. In 2017, Claus process segment dominated the global sulfur recovery technology market by technology. Growing requirement of single stage Claus plants to expand into corresponding multi-stage plants owing to the strict environmental regulations is mainly driving the market. In terms of source of recovery, oil & gas segment held the largest revenue share in 2017.

In terms of capacity, Up-to 100 t/d held major share of the global sulfur recovery technology market. In terms of geography, Asia Pacific is the most prominent market and held the largest market share in terms of value in the global sulfur recovery technology market. Increasing government and environmental regulations followed by increasing adoption of this technology in China is mainly driving the Sulfur Recovery Technology market in this region.*Key Topics Covered:*
Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.4 Market Segmentation

Chapter 2 Executive Summary
2.1 Overview
2.2 Market Snapshot: Global Sulfur Recovery Technology Market
2.3 Global Sulfur Recovery Technology Market Value, by Technology, 2017 (US$ Mn)
2.4 Global Sulfur Recovery Technology Market Value, by Source of Recovery, 2017 (US$ Mn)
2.5 Global Sulfur Recovery Technology Market Value, by Capacity, 2017 (US$ Mn)
2.6 Global Sulfur Recovery Technology Market Value, by Geography, 2017 (US$ Mn)

Chapter 3 Market Overview
3.1 Introduction
3.2 Market Dynamics
3.2.1 Market Drivers
3.2.1.1 Stringent Environmental Regulations for Sulfur Emission
3.2.1.2 Adoption of Advanced in Sulfur Recovery Technologies, in Oil and Gas Sector
3.2.2 Challenges
3.2.2.1 High Operational Expenditure Associated with Multistage Claus Process
3.2.3 Opportunities
3.2.3.1 Refineries are Adopting Specialized Tail Gas Treatment Recovery Process
3.2.3.2 Growing Demand for Sulfur among End-Application Industries
3.3 Impact Analysis of Drivers, Challenges and Opportunities During the Forecast Period
3.4 Attractive Investment Proposition, by Geography,
3.5 Market Positioning of Key Players

Chapter 4 Global Sulfur Recovery Technology Market, by Technology
4.1 Overview
4.2 Claus Process
4.3 Tail Gas Treatment
4.4 Others' (Tail Gas Incineration, Liquid RedOX Sulfur Removal & Recovery, etc.)

Chapter 5 Global Sulfur Recovery Technology Market, By Source Of Recovery
5.1 Overview
5.2 Oil & Gas
5.3 Other Source (Sulfur Mining, Coal Gasification, etc.)

Chapter 6 Global Sulfur Recovery Technology Market, by Capacity
6.1 Overview
6.2 Up to 100 t/d' (tons per day)
6.3 101-200 t/d (tons per day)
6.4 201-300 t/d (tons per day)
6.5 Above 300 t/d' (tons per day)

Chapter 7 Global Sulfur Recovery Technology Market, by Geography

Chapter 8 Company Profiles
8.1 Jacobs Engineering Group Inc.
8.2 The Linde Group
8.3 Exxon Mobil Corporation
8.4 Royal Dutch Shell Plc
8.5 John Wood Group Plc.
8.6 Amec Foster Wheeler
8.7 Black & Veatch Holding Company
8.8 Chiyoda Corporation
8.9 Fluor Corporation
8.10 Gtc Technology Us, Llc
8.11 Chicago Bridge & Iron Company N.V.
8.12 Basf Se
8.13 Praxair, Inc
8.14 Phoenix Equipment CorporationFor more information about this report visit https://www.researchandmarkets.com/research/dq65rx/global_1_57?w=12
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT:
CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Oil Reported by GlobeNewswire 6 hours ago.

Dublin, Nov. 30, 2018 (GLOBE NEWSWIRE) -- The "Global Krill Oil Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2018 To 2026" report has been added to *ResearchAndMarkets.com's* offering.

The global market for krill oil was pegged at US$ 282.8 Mn in 2017 growing with a CAGR of 13.1% during the forecast period from 2018 to 2026.

Rising benefits of krill oil for various applications such as fortified food & beverages, animal feed, dietary supplements, pharmaceuticals, and others expected to expand the growth of krill oil market during the forecast period.

Distribution is a key success factor in the current krill oil industry. Rising competition and comparatively slow market growth rate of the krill oil market has compelled companies to focus on increasing product penetration. Supermarkets, drugstores, mass merchandisers, etc. play an important role in the distribution of krill oil products. Rising consumer demands for green products is driving the shift from niche distribution channels to mainstream mass retailers. Mass merchandisers such as Wal-Mart and Target are introducing krill oil products into their retail chain.

Moreover, supermarkets such as Loblaws and Safeway are also expanding their product range. This has resulted in a sharp increase in sales of these products. At present, even if the krill oil products are making inroads in drug stores, pharmacies and mass-market retailers, the specialist retail outlets still constitute the major share in the market. Mass merchandisers such as Wal-Mart, Target etc. and supermarkets such as Safeway, Loblaws etc. account for the higher market share through the sale of krill oil products.

Rising health consciousness as well as avoiding unhealthy food intake expected to strengthen the demand for krill oil and the market growth during the forecast period. Apart from this, rising demand for omega 3 fatty acids and consumption of nutritious diet anticipated to foster the demand for krill oil all over the world in upcoming years. At present, European region captured the maximum value share of krill oil market and anticipated to dominate over the forecast period.

Rising awareness related to benefits of consuming krill oil along with increasing demand by various companies in pharmaceutical and dietary supplement segment projected to boost the demand for krill oil in Asia Pacific region and will expand the growth of the market during the forecast period. Rising acceptance of fish oil alternatives, which is growing at a CAGR of 5.8% globally from 2018 to 2026 and expected to surpass market value of US$ 3.7 Bn by 2026, is further likely to impel the growth of global krill oil market during the forecast period.

At present, the krill oil market is highly consolidated. There are many brands present in the market but very few have significant market share. Various strategies are adopted by companies to maintain their dominance in the market. Large multinationals are following similar pricing strategies and distribution channels.

*Key Topics Covered:*

*Chapter 1 Preface*
1.1 Report Scope and Description
1.1.1 Study Purpose
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.4 Market Segmentation

*Chapter 2 Executive Summary*
2.1 Market Snapshot: Global Krill Oil Market
2.1.1 Global Krill Oil Market, by Product Type, 2017 (US$ Mn)
2.1.2 Global Krill Oil Market, by Application, 2017 (US$ Mn)
2.1.3 Global Krill Oil Market, by Distribution Channel, 2017 (US$ Mn)
2.1.4 Global Krill Oil Market, by Geography, 2017 (US$ Mn)

*Chapter 3 Krill Oil: Market Dynamics and Future Outlook*
3.1 Introduction
3.2 Market Dynamics
3.2.1 Market Drivers
3.2.1.1 Availability of the products in various distribution channels
3.2.1.1 Rise in health awareness among the consumer
3.2.1.2 Rising demand for supplements
3.2.2 Market Challenges
3.2.2.1 The high manufacturing costs coupled with yield problems associated with extraction of pure krill oil
3.2.2.2 Presence of substitutes including omega fatty acid supplements
3.2.3 Market Opportunities
3.2.3.1 Strong demand from emerging economies
3.2.3.2 Rising demand from the end consumer segments
3.3 Attractive Investment Proposition, by Geography,
3.4 Market Positioning of Key Players,

*Chapter 4 Global Krill Oil Market, by Product Type*
4.1 Overview
4.2 Global Krill Oil Market Value Share, by Product Type, 2017 & 2026 (Value %)
4.3 Liquid
4.4 Tablet

*Chapter 5 Global Krill Oil Market, by Application*
5.1 Overview
5.2 Fortified Food & Beverages
5.3 Animal Feed
5.4 Dietary Supplements
5.5 Pharmaceuticals
5.6 Others

*Chapter 6 Global Krill Oil Market, by Distribution Channel*
6.1 Overview
6.2 Supermarkets/Hypermarkets
6.3 Departmental Store
6.4 Pharmacy Store
6.5 Online Store
6.6 Others

*Chapter 7 Krill Oil Market by Geography, 2016 - 2026*

*Chapter 8 Company Profiles*· Aker BioMarine AS
· Azantis Inc.
· Daeduck FRD Inc.
· Enzymotec Ltd.
· Neptune Wellness Solutions
· Norweigan Fish Oil
· NutriGold Inc.
· NWC Naturals Inc.
· Olympic Seafood AS
· Qingdao Kangjing Marine Biotechnology Co Ltd.
· RB LLC.
· Rimfrost AS.

For more information about this report visit https://www.researchandmarkets.com/research/rtlgd2/global_3_7?w=12
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT:
CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Vitamins and Dietary Supplements, Oils and Fats Reported by GlobeNewswire 5 hours ago.

[Monitor] Kampala -Insurance Regulatory Authority (IRA) will focus on implementing marine insurance in 2019. Reported by allAfrica.com 6 hours ago.

*Highlights for the quarter vs Q3 FY18:*· Revenues of $1,394.2 million, an increase of $167.7 million or 13.7%;
· Net income of $90.2 million, an increase of $20.2 million, which resulted in a diluted earnings per share of $0.92, an increase of $0.25 per share;
· Normalized net income^[1] of $102.9 million, a decrease of $0.7 million, which resulted in a normalized diluted earnings per share ^[1] of $1.04, an increase of $0.05 per share;
· N.A. Powersports retail for Q3 is outpacing the industry and grew 6% vs same period last year, or 16% when excluding snowmobile;
· The Company introduced the Can-Am Ryker, a new three-wheeled vehicle platform. With its lower purchase point, the Can-Am Ryker is designed to bring the on-road experience to more people;
· The Company acquired 100% of Triton Industries Inc. (“Triton”) located in Lansing, Michigan (United States), a pontoon manufacturer selling under the Manitou brand.

VALCOURT, Québec, Nov. 30, 2018 (GLOBE NEWSWIRE) -- BRP Inc. (TSX:DOO; NASDAQ: DOOO) today reported its financial results for the three- and nine-month periods ended October 31, 2018. All financial information is in Canadian dollars unless otherwise noted. The complete financial results are available at www.sedar.com, as well as in the Quarterly Reports section of BRP’s website.

“We posted another record quarter with sustained demand for our products. Consumer demand for BRP’s powersports line-up was also strong this quarter with retail up by more than 25% for both side-by-side vehicles (SSV) and personal watercraft (PWC) in North America. This performance is a testament to our relentless focus on executing on our strategic priorities and on bringing the most innovative products to market”, said José Boisjoli, President and CEO.

"The fundamentals of our business are robust, we continue to drive operational excellence, and are thus well positioned to be very competitive despite the current potential headwinds caused by current market inflationary pressure. The diversified BRP product portfolio and line-up has never been as strong and the degree of positive engagement from our dealers is very high. We are excited by our momentum and are committed on delivering another record year of normalized EPS growth of 30% to 35%", concluded Boisjoli.

*Highlights for the Three- and Nine-Month Periods Ended October 31, 2018*

*Revenues *increased by $167.7 million, or 13.7%, to $1,394.2 million for the *three-month* period ended October 31, 2018, compared with $1,226.5 million for the corresponding period ended October 31, 2017. The revenue increase was mainly due to higher wholesale in Year-Round Products and a favourable foreign exchange rate variation of $31 million.

The Company's North American retail sales for powersports vehicles and outboard engines increased by 5% for the three-month period ended October 31, 2018 compared with the three-month period ended October 31, 2017. The increase was mainly due to SSV and PWC, partially offset by a decrease in snowmobiles sales.

As at October 31, 2018, North American dealer inventories for powersports vehicles and outboard engines increased by 8% compared to October 31, 2017. The increase was primarily driven by higher side-by-side inventory to meet demand for our line-up.

*Gross profit* increased by $36.9 million, or 11.5%, to $356.8 million for the *three-month* period ended October 31, 2018, compared with $319.9 million for the corresponding period ended October 31, 2017. The gross profit increase includes a favourable foreign exchange rate variation of $6 million. Gross profit margin percentage decreased by 50 basis points to 25.6% from 26.1% for the three-month period ended October 31, 2017. The decrease was primarily due to an unfavourable product mix, partially offset by a higher volume of SSV and PAC sold.

*Operating expenses* increased by $32.3 million, or 19.3%, to $199.7 million for the *three-month* period ended October 31, 2018, compared with $167.4 million for the three-month period ended October 31, 2017. This increase was mainly attributable to higher general and administrative as well as higher selling and marketing expenses. The higher general and administrative expense is mainly due to costs related to the modernization of information systems and higher variable employee compensation expenses.

*Revenues* increased by $511.4 million, or 15.8%, to $3,737.9 million for the *nine-month* period ended October 31, 2018, compared with $3,226.5 million for the corresponding period ended October 31, 2017. The revenue increase was primarily attributable to higher wholesale of Year-Round Products and Seasonal Products and a favourable foreign exchange rate variation of $12 million.The Company's North American retail sales for powersports vehicles and outboard engines increased by 10% for the nine-month period ended October 31, 2018 compared with the nine-month period ended October 31, 2017, mainly due to an increase in SSV and PWC.

*Gross profit* increased by $155.5 million, or 20.4%, to $918.5 million for the *nine-month* period ended October 31, 2018, compared with $763.0 million for the corresponding period ended October 31, 2017. The gross profit increase includes a favourable foreign exchange rate variation of $7 million. Gross profit margin percentage increased by 100 basis points to 24.6% from 23.6% for the nine-month period ended October 31, 2017. The increase was primarily due to a higher volume of SSV, PWC and PAC sold and to favourable pricing.

*Operating expenses* increased by $69.4 million, or 13.8%, to $572.4 million for the *nine-month* period ended October 31, 2018, compared with $503.0 million for the nine-month period ended October 31, 2017. The increase was mainly attributable to higher selling and marketing expenses to support launch of various products as well as higher general and administrative expenses.

*Net Income data* * * * *      
* * * * * *      
  *Three-month periods ended*     *Nine-month periods ended*  
(in millions of Canadian dollars) *October 31,
*2018**   *October 31,*
*2017*     *October 31,*
*2018*   *October 31,*
*2017*  
  * * Restated ^[1]     * * Restated ^[1]  
        * *  
*Revenues by category ^[2]* * * * *   * *  
*Powersports*                          
Year-Round Products *$* *562.4*   $ 464.4     *$* *1,643.0*   $ 1,300.9  
Seasonal Products   *490.9*     475.6       *1,225.9*     1,116.7  
Powersports PAC and OEM Engines   *201.8*     179.1       *504.8*     472.4  
*Marine*   *139.1*     107.4       *364.2*     336.5  
*Total Revenues*   *1,394.2*     1226.5       *3,737.9*     3,226.5  
Cost of sales   *1,037.4*     906.6       *2,819.4*     2,463.5  
*Gross profit*   *356.8*     319.9       *918.5*     763.0  
As a percentage of revenues   *25.6* *%*   26.1 %     *24.6* *%*   23.6 %
*Operating expenses* * *     * *  
Selling and marketing   *86.8*     77.3       *248.8*     219.8  
Research and development   *51.6*     47.4       *158.2*     146.0  
General and administrative   *58.0*     38.4       *155.8*     126.0  
Other operating expenses   *3.3*     4.3       *9.6*     11.2  
*Total operating expenses*   *199.7*     167.4       *572.4*     503.0  
*Operating income*   *157.1*     152.5       *346.1*     260.0  
Net financing costs   *16.9*     15.4       *54.7*     39.9  
Foreign exchange (gain) loss on long-term debt   *10.2*     31.7       *69.0*     (5.9 )
*Income before income taxes*   *130.0*     105.4       *222.4*     226.0  
Income tax expense   *39.8*     35.4       *77.8*     56.9  
*Net income* *$* *90.2*   $ 70.0     *$* *144.6*   $ 169.1  
Attributable to shareholders *$* *90.3*   $ 69.9     *$* *144.3*   $ 168.7  
Attributable to non-controlling interest *$* *(0.1* *)* $ 0.1     *$* *0.3*   $ 0.4  
* * * *     * *  
*Normalized EBITDA ^[3]* *$* *203.2*   $ 189.7     *$* *474.0*   $ 374.0  
*Normalized net income ^[3]* *$* *102.9*   $ 103.6     *$* *222.8*   $ 169.3  

^[1]  Restated to reflect the adoption of IFRS 15 “Revenue from contracts with customers” and IFRS 9 “Financial instruments” standards as explained in Note 20 of the unaudited condensed consolidated interim financial statements for the three- and nine-month periods ended October 31, 2018.
^[2]  Comparative figures have been modified to reflect the new categories of revenues following the acquisition of Alumacraft and Triton and the creation of the Marine Group.
^[3]  See “Non-IFRS Measures” section.

*QUARTERLY REVIEW BY SEGMENT**Powersports*

*Year-Round Products*

Revenues from Year-Round Products increased by $98.0 million, or 21.1%, to $562.4 million for the three-month period ended October 31, 2018, compared with $464.4 million for the corresponding period ended October 31, 2017. The increase resulted mainly from a higher volume of SSV sold and a favourable foreign exchange rate variation of $21 million, partially offset by an unfavourable product mix of SSV sold.

North American Year-Round Products retail sales increased on a percentage basis in the low-teen range compared with the three-month period ended October 31, 2017.

*Seasonal Products*

Revenues from Seasonal Products increased by $15.3 million, or 3.2%, to $490.9 million for the three-month period ended October 31, 2018, compared with $475.6 million for the corresponding period ended October 31, 2017. The increase was driven by a higher volume of PWC sold and from a favourable foreign exchange rate variation of $5 million, partially offset by an unfavourable product mix of snowmobiles sold.

North American Seasonal Products retail sales decreased by low-single digits compared with the three-month period ended October 31, 2017.

*Powersports PAC and OEM Engines*

Revenues from Powersports PAC and OEM Engines increased by $22.2 million, or 12.3%, to $202.2 million for the three-month period ended October 31, 2018, compared with $180.0 million for the corresponding period ended October 31, 2017. The increase was mainly attributable to a higher volume of SSV and PWC parts and accessories.

*Marine*

Revenues from Marine increased by $29.5 million, or 25.4%, to $145.8 million for the three-month period ended October 31, 2018, compared with $116.3 million for the corresponding period ended October 31, 2017. The increase was mainly due to the acquisition of Alumacraft and Triton, partially offset by a lower volume of outboard engines sold.

North American outboard engine retail sales decreased on a percentage basis in the low-teen range compared with the three-month period ended October 31, 2017.

*DECLARATION OF DIVIDEND*

On November 29, 2018, the Company’s Board of Directors declared a quarterly dividend of $0.09 per share for holders of its multiple voting shares and subordinate voting shares. The dividend will be paid on January 11, 2019 to shareholders of record at the close of business on December 28, 2018. The payment of each quarterly dividend remains subject to the declaration of that dividend by the Board of Directors. The actual amount, the declaration date, the record date and the payment date of each quarterly dividend are subject to the discretion of the Board of Directors.

*Fiscal Year 2019 Guidance*

The table below sets forth BRP’s financial guidance for Fiscal Year 2019 when compared to actual results for Fiscal Year 2018, as revised to reflect the adoption of new IFRS 9 Financial instruments and IFRS 15 Revenue from contracts with customers standards effective as of February 1, 2018. The financial guidance targets have been adjusted as follows:

*Financial Metric* *FY18*
*Results
*^*(Restated)[1]* *FY19 Guidance[4] vs FY18 Restated[1]*  
Revenues * * * *  
Year-Round Products $ 1,810.0   *Up 20% to 23%*
(previously up 18% to 21%)  
Seasonal Products $ 1,553.9   *Up 10% to 13%*
(previously up 9% to 12%) * *
Powersports PAC and OEM Engines $ 659.7   Up 3% to 7%  
Marine $ 428.9   Up 15% to 20%  
*Total Company Revenues* $ 4,452.5   *Up 13% to 17%*
(previously up 12% to 16%)  
*Normalized* *EBITDA^[2]* $ 536.2   Up 20% to 22%  
Effective Tax Rate^[2][3]   26.9 % *26.5% to 27.0% *
(previously up 26.5% to 27.5%)  
*Normalized Earnings per Share – Diluted^[2]* $ 2.27   *Up 30% to 35%* ($2.96 to $3.06)
(previously up $2.94 to $3.06)  
Net Income   239.1   $230M to $240M (assuming an Fx loss on long-term debt of $69.0M)  

Other guidance:

· Expecting *~$175M of Depreciation Expense* compared to $149M in FY18, *~$63M of Normalized Net Financing Costs* and *~100.0M shares*
· *Expecting Capital Expenditures of ~$315M to $330M in FY19* compared to $230M in FY18

[1]  “Restated to reflect the adoption of IFRS 15 “Revenue from contracts with customers” and IFRS 9 “Financial instruments” standards as explained in Note 20 of the unaudited condensed consolidated interim financial statements for the three- and nine-month periods ended October 31, 2018. FY18 figures have not been audited.
[2]  See “Non-IFRS Measures” section
[3]  Effective tax rate based on Normalized Earnings before Normalized Income Tax
[4]  Please refer Forward-Looking Statements at the end of this release for a summary of key assumptions and important risk factors underlying the FY19 guidance

The above targets are based on a number of economic and market assumptions the Company has made in preparing its Fiscal Year 2019 financial guidance, including assumptions regarding the performance of the economies in which it operates, foreign exchange currency fluctuations, market competition and tax laws applicable to its operations. The Company cautions that the assumptions used to prepare the forecasts for Fiscal Year 2019, although reasonable at the time they were made, may prove to be incorrect or inaccurate. In addition, the above forecasts do not reflect the potential impact of any non-recurring or other special items or of any new material commercial agreements, dispositions, mergers, acquisitions, other business combinations or other transactions that may be announced or that may occur after November 29, 2018. The financial impact of such transactions and non-recurring and other special items can be complex and depends on the facts particular to each of them. We therefore cannot describe the expected impact in a meaningful way or in the same way we present known risks affecting our business. Accordingly, our actual results could differ materially from our expectations as set forth in this news release. The outlook provided constitutes forward-looking statements within the meaning of applicable securities laws and should be read in conjunction with the "Caution Concerning Forward-Looking Statements" and “Key Assumptions” sections.*Conference Call and Webcast Presentation*

Today at 9 a.m. (ET), BRP Inc. will host a conference call and webcast to discuss BRP's FY2019 third-quarter results released this morning. The call will be hosted by José Boisjoli, President and CEO, and Sébastien Martel, CFO. To listen to the English-only conference call by phone (event number 4296044), please dial 514-392-0235 or 800-564-3880 (toll-free in North America). Click for international dial-in numbers.

The Company’s third-quarter FY2019 MD&A, financial statements and webcast presentation are posted in the Quarterly Reports section of BRP’s website.

*About BRP
*We are a global leader in the world of powersports vehicles and propulsion systems built on over 75 years of ingenuity and intensive consumer focus. Our portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am on- and off-road vehicles, Alumacraft and Manitou boats, Evinrude and Rotax marine propulsion systems as well as Rotax engines for karts, motorcycles and recreational aircraft. We support our lines of product with a dedicated parts, accessories and clothing business to fully enhance your riding experience. With annual sales of CA$4.5 billion from over 100 countries, our global workforce is made up of around 10,500 driven, resourceful people.

www.brp.com
@BRPNews

Ski-Doo, Lynx, Sea-Doo, Evinrude, Rotax, Can-Am, Alumacraft, Manitou and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.

*CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
*Certain information included in this release, including, but not limited to, statements relating to our Fiscal Year 2019 financial outlook (including revenues, gross profit margin, operating expenses, Normalized EBITDA, Effective Tax Rate, Normalized net income and Normalized earnings per share), statements relating to the declaration and payment of dividends, statements relating to the proposed increase in production capacity of the Company and other statements that are not historical facts, are “forward-looking statements” within the meaning of Canadian securities laws. Forward-looking statements are typically identified by the use of terminology such as “may”, “will”, “would”, “should”, “could”, “expects”, "forecasts", “plans”, “intends”, “trends”, “indications”, “anticipates”, “believes”, “estimates”, “outlook”, “predicts”, “projects”, “likely” or “potential” or the negative or other variations of these words or other comparable words or phrases. Forward looking statements, by their very nature, involve inherent risks and uncertainties and are based on several assumptions, both general and specific. BRP cautions that its assumptions may not materialize and that economic conditions could render such assumptions, although reasonable at the time they were made, subject to uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of the Company or the powersports industry to be materially different from the outlook or any future results or performance implied by such statements. Key assumptions used in determining forward-looking information are set forth below.

*KEY ASSUMPTIONS
*The Company made a number of economic and market assumptions in preparing its forward-looking statements contained in this press release. The Company is assuming reasonable industry growth ranging from flat to high-single digits, moderate market share gains in Year-Round Products and Seasonal Products and constant market share for the Marine Group. The Company is also assuming interest rates increasing modestly, currencies remaining at near current levels and inflation in line with central bank expectations in countries where BRP is doing business.

In addition, many factors could cause the Company’s actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the following factors, which are discussed in greater detail under the heading “Risk Factors” of its Annual Information Form: impact of adverse economic conditions on consumer spending; decline in social acceptability of the Company’s products; fluctuations in foreign currency exchange rates; high levels of indebtedness; unavailability of additional capital; unfavourable weather conditions; seasonal sales fluctuations; inability to comply with product safety, health, environmental and noise pollution laws; large fixed cost base; inability of dealers and distributors to secure adequate access to capital; supply problems, termination or interruption of supply arrangements or increases in the cost of materials; competition in product lines; inability to successfully execute growth strategy; international sales and operations; failure of information technology systems or security breach; loss of members of management team or employees who possess specialized market knowledge and technical skills; inability to maintain and enhance reputation and brands; significant product liability claim; significant product repair and/or replacement due to product warranty claims or product recalls; reliance on a network of independent dealers and distributors; inability to successfully manage inventory levels; intellectual property infringement and litigation; inability to successfully execute manufacturing strategy; covenants in financing and other material agreements; changes in tax laws and unanticipated tax liabilities; deterioration in relationships with employees; pension plan liabilities; natural disasters; failure to carry proper insurance coverage; volatile market price for BRP’s subordinate voting shares; conduct of business through subsidiaries; significant influence by Beaudier Inc. and 4338618 Canada Inc. (together the “Beaudier Group”) and Bain Capital Luxembourg Investments S. à r. l. (“Bain Capital”); and future sales of BRP’s shares by Beaudier Group, Bain Capital, directors, officers or senior management of the Company. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully.

BRP undertakes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable laws. In the event that BRP does update any forward-looking statement, no inference should be made that BRP will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

*NON-IFRS MEASURES
*This press release makes reference to certain non-IFRS measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company’s results of operations from management’s perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. The Company uses non-IFRS measures including Normalized EBITDA, Normalized net income, Normalized income tax expense, Normalized effective tax rate, Normalized basic earnings per share and Normalized diluted earnings per share.

Normalized EBITDA is provided to assist investors in determining the financial performance of the Company’s operating activities on a consistent basis by excluding certain non-cash elements such as depreciation expense, impairment charge and foreign exchange gain or loss on the Company’s long-term debt denominated in U.S. dollars. Other elements, such as restructuring costs, may also be excluded from net income in the determination of Normalized EBITDA as they are considered not being reflective of the operational performance of the Company. Normalized net income, Normalized income tax expense, Normalized effective tax rate, Normalized basic earnings per share and Normalized diluted earnings per share, in addition to the financial performance of operating activities, take into account the impact of investing activities, financing activities and income taxes on the Company’s financial results.

The Company believes non-IFRS measures are important supplemental measures of financial performance because they eliminate items that have less bearing on the Company’s financial performance and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS measures. The Company also believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of companies, many of which present similar metrics when reporting their results. Management also uses non-IFRS measures in order to facilitate financial performance comparisons from period to period, prepare annual operating budgets, assess the Company’s ability to meet its future debt service, capital expenditure and working capital requirements and, also, as a component in the determination of the short-term incentive compensation for the Company’s employees. Because other companies may calculate these non-IFRS measures differently than the Company does, these metrics are not comparable to similarly titled measures reported by other companies.

Normalized EBITDA is defined as net income before financing costs, financing income, income tax expense (recovery), depreciation expense and normalized elements. Normalized net income is defined as net income before normalized elements adjusted to reflect the tax effect on these elements. Normalized income tax expense is defined as income tax expense adjusted to reflect the tax effect on normalized elements and to normalize specific tax elements. Normalized effective tax rate is based on Normalized net income before Normalized income tax expense. Normalized earnings per share - basic and Normalized earnings per share – diluted are calculated respectively by dividing the Normalized net income by the weighted average number of shares – basic and the weighted average number of shares – diluted. The Company refers the reader to the “Selected Consolidated Financial Information” section of this MD&A for the reconciliations of Normalized EBITDA and Normalized net income presented by the Company to the most directly comparable IFRS measure.

*Reconciliation Tables* * * * *        
* * * * * *        
The following table presents the reconciliation of Net income to Normalized net income ^[1] and Normalized EBITDA ^[1].
  *Three-month periods ended*   *Nine-month periods ended* *Year ended*
(in millions of Canadian dollars) *October 31,*
*2018* *October 31,*
*2017*   *October 31,*
*2018* *October 31,*
*2017* *January 31,*
*2018*
 
  * * Restated ^[2]   * * Restated ^[2] Restated ^[2]
        * *    
*Net income* *$* *90.2*   $ 70.0     *$* *144.6*   $ 169.1   $ 239.1  
Normalized elements * *     * *    
Foreign exchange (gain) loss on long-term debt   *10.2*     31.7       *69.0*     (5.9 )   (53.3 )
Transaction costs and other related expenses   *0.5*     —       *1.7*     —     —  
Restructuring and related costs ^[3]   *0.1*     —       *0.9*     —     2.9  
Loss on litigation ^[4]   *0.3*     —       *1.1*     5.7     5.9  
Transaction costs on long-term debt   *—*     2.1       *8.9*     2.1     2.1  
Pension plan past service gains   *—*     —       *(1.4* *)*   —     —  
Depreciation of intangible assets related to business combinations   *0.5*     —       *0.5*     —     —  
Other elements   *1.9*     0.5       *1.1*     0.5     1.5  
Income tax adjustment   *(0.8* *)*   (0.7 )     *(3.6* *)*   (2.2 )   47.3  
*Normalized net income ^[1]*   *102.9*     103.6       *222.8*     169.3     245.5  
Normalized income tax expense ^[1]   *40.6*     36.1       *81.4*     59.1     90.2  
Financing costs adjusted ^[1] [5]   *17.3*     13.8       *48.1*     39.7     53.5  
Financing income adjusted ^[1] [5]   *(0.4* *)*   (0.5 )     *(1.5* *)*   (1.9 )   (2.2 )
Depreciation expense adjusted ^[1] [6]   *42.8*     36.7       *123.2*     107.8     149.2  
*Normalized EBITDA ^[1]* *$* *203.2*   $ 189.7     *$* *474.0*   $ 374.0   $ 536.2  
* * * *     * *    
Weighted average number of shares – diluted   *98,619,401*     104,227,543       *100,141,531*     109,459,535     107,917,087  
Normalized earnings per share – diluted ^[1]   *1.04*     0.99       *2.22*     1.54     2.27  

^[1]  See “Non-IFRS Measures” section.
^[2]  Restated to reflect the adoption of IFRS 15 “Revenue from contracts with customers” and IFRS 9 “Financial instruments” standards as explained in Note 20 of the unaudited condensed consolidated interim financial statements for the three- and nine-month periods ended October 31, 2018.
^[3]  The Company is involved, from time to time, in restructuring and reorganization activities in order to gain flexibility and improve efficiency. The costs related to these activities are mainly composed of severance costs and retention salaries. 
^[4]  The Company is involved in patent infringement litigation cases with one of its competitors.
^[5]  Adjusted for transaction costs on long-term debt and NCIB gains and losses in net income.
^[6]  Adjusted for depreciation of intangible assets acquired through business combinations.

*For media enquiries: * * For investor relations:*
   
Catherine Moreau Philippe Deschênes
Senior Advisor, Media Relations Manager Treasury and Investor Relations
Tel.: 514.231.2118 Tel.: 450.532.6462
catherine.moreau@brp.com philippe.deschenes@brp.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/c023f78a-cf3b-4ff4-a7b7-4a8477c6011f Reported by GlobeNewswire 5 hours ago.

Toronto, Canada, Nov. 30, 2018 (GLOBE NEWSWIRE) -- Many of us love animals, whether it’s the comfort of our pets, the fascination with wildlife roaming the planet or the beauty of ocean dwellers. Yet, around the globe animals face distress, abuse and suffering. They are the forgotten victims in natural disasters and they endure human cruelty and neglect when forced to entertain tourists or accidentally become tangled up in discarded or lost fishing gear.

World Animal Protection, a top rated charity in Canada, works to stop the suffering of animals worldwide and during the holiday season, those who care about animals can help by purchasing a World Animal Gift. With over 35 gifts to choose from, they make great presents for animal lovers, while having a lasting impact for animals.

Gifts include helping dogs in developing countries where they are often killed because people fear they have rabies. Up to 10 million dogs globally are killed inhumanely every year because of this fear and other conflict with humans. To date, we have saved more than a million dogs from this fate by vaccinating them against rabies, including this sweet girl named Bruno.

The charitable gifts improve lives for other innocent creatures too. Like Maya the bear  in Pakistan. Maya was sold on the black market to her owner as a frightened cub who used her as “entertainment” to earn a living. She was brutally trained to “dance” for tourists.

World Animal Protection, along with the Pakistan Bioresource Research Centre (BRC) managed to rescue Maya. And more recently, three adorable bear cubs. They are all now living happy, healthy lives at the Balkasar bear sanctuary in Pakistan. Sadly, countless bears worldwide still need to be rescued.

That’s why World Animal Gifts are significant, so more animals like Bruno and Maya can be saved.

“These gifts are perfect for animal lovers. And it’s a chance to give something back to animals who give us so much. A delicious fruit basket can go to a rescued bear. Another gift can improve the health of stray dogs or protect Canadian marine animals from lost fishing gear. These gifts are life-saving and mean so much to animals around the world,” says Josey Kitson, Executive Director for World Animal Protection.

There are many great gifts to choose from:

Help A Best Friend*–* Help vaccinate 50 dogs against rabies for $50.You’ll save their lives and help them live in harmony with their community.

Open Young Hearts– This gift is for the kids on your list who will change the world. Inspire young animal lovers with a $55 gift that protects their favourite creatures like dogs and turtles. 

Provide a Festive Feast – For $45 you can feed rescued animals from a natural disaster, for one week including cats and dogs.

Give Comfort and Joy-Your gift of $165 allows mother pigs to move around naturally instead of being confined in small cages. 

Health for the Holidays - Provide two rescued bears with vital medication for $35. This helps keep them healthy and strong on the road to recovery.

*How it works:*

*∙*Visit WorldAnimalGifts.ca and choose from a variety of life-saving gifts

∙Personalize your free eCard or download a PDF for your loved one

*∙*Protect animals around the world 

*About World Animal Protection:*

World Animal Protection, formerly known as the World Society for the Protection of Animals (WSPA), is active in more than 50 countries. From our offices around the world, we work with businesses, governments, local partners and animal welfare organizations to find practical ways to prevent animal suffering worldwide. www.worldanimalprotection.ca

-30-

For further information, images and interviews with spokespeople please contact Nina Devries, Media Manager for World Animal Protection. 

*Attachment*

· WorldAnimalProtection_Maya_WAG

CONTACT: Nina Devries
World Animal Protection
1 416 369 0044 ext. 100
ninadevries@wordlanimalprotection.ca Reported by GlobeNewswire 5 hours ago.

A senior Hong Kong marine official who ordered staff to ignore a life jacket law before the deadly 2012 Lamma ferry disaster has failed to clear his name but won a shorter sentence, which resulted in his immediate release on Friday. So Ping-chi, 61, was jailed for 16 months in June 2016 for misconduct in public office. A District Court judge at the time found the former assistant director of the Marine Department had seriously misconducted himself by wilfully instructing subordinates not to... Reported by S.China Morning Post 5 hours ago.

BBC Local News: Isle of Man -- The Douglas lifeboat assisted in the search for a car reported "missing" from Marine Drive. Reported by BBC Local News 4 hours ago.

2019 Backlog is Currently ~ $13 Million and Growing

ST. JOHN’S, Newfoundland, Nov. 30, 2018 (GLOBE NEWSWIRE) -- Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF) announced it has filed its financial results for the third quarter ended September 30, 2018. Additional information concerning the Company, including its unaudited condensed consolidated interim financial statements and related management’s discussion and analysis (“MD&A”) for the quarter ended September 30, 2018, can be found at www.sedar.com. Unless otherwise stated, all dollar amounts are Canadian dollar denominated.  *Q3 2018 Financial Highlights*

· Revenue was $1.6 million for the quarter as compared to $1.6 million in the year ago quarter. Year-to-date revenues were $5.2 million as compared to $2.0 million in the same period of 2017 driven by delivery of KATFISH™ and AquaPix® sensors to military and commercial customers*.*
· Net loss was $1.0 million as compared to net income of $0.1 million in the year ago quarter. Year-to-date, net loss was $1.8 million versus a net loss of $1.7 million in the year ago quarter.
· Financial results, for the first time, include the consolidation of Kraken Power GmbH, a subsidiary that Kraken has a 19.9% equity interest in but expects to increase to 75% by year end 2018.
· Kraken exited the quarter with a cash balance of $1.6 million, as compared to cash indebtedness of $0.3 million at December 31, 2017. The Company’s $0.3 million line of credit is unused.
· At quarter-end, Kraken had $0.9 million of contribution agreements to draw upon from the National Research Council of Canada Industrial Research Assistance Program and Innovate Newfoundland and Labrador.

*Q3 2018 Notable Operational Highlights*

· Formed a strategic partnership with Ocean Infinity and subsequently received the first purchase order of $2.5 million with an expected follow on purchase order for $6.5 million. This order is for deep sea pressure tolerant batteries that will be supplied using Kraken Power’s pressure tolerant gel encapsulation technology.
· Announced formation of Kraken’s Acoustic Signal Processing Group with a Toronto-based team having 80+ years of combined experience that will focus on anti-submarine warfare signal processing software applications. Kraken won its first contract for this group, a 12-month software contract valued at approximately $1 million, with an international defense contractor.
· Announced Cooperative Research and Development Agreements with both the Naval Undersea Warfare Center (NUWC) – Division Newport and the National Oceanic and Atmospheric Administration (NOAA).
· Successfully demonstrated KATFISH™ at the U.S. Navy’s annual, invite-only Advanced Naval Technology Exercise (ANTX) event. Kraken and ThayerMahan successfully demonstrated the SeaScout® Expeditionary Seabed Mapping and Intelligence System. The SeaScout® system incorporates several industry-leading modules: KATFISH™, actively stabilized towfish with Synthetic Aperture Sonar; TENTACLE®, intelligent all-electric winch; real time sea-floor secure imagery transmission to cloud-based storage; cloud-based data analytics and machine learning for automated change detection. U.S. Navy Vice Admiral Michael Connor (retired), ThayerMahan’s President and CEO, said, “I’m very pleased that during ANTX ThayerMahan and Kraken demonstrated superior resolution and range relative to competing systems costing many times more; live streaming of target detection results to remote maritime operations centers at sea and ashore; excellent area coverage rates, real-time performance and ease of operation for the sailor. There is no doubt in my mind that SeaScout® offers a compelling price and performance advantage to competitive systems.”
· Kraken received $1 million from exercise of previously issued common share purchase warrants.
· Kraken delivered a KATFISH™ Towed Synthetic Aperture Sonar Platform to an Israeli customer. This KATFISH will be used in mine hunting applications with the customer’s Unmanned Surface Vessel (USV).

*CEO Comments *

“With a growing backlog, high quality customers, industry leading technology at the right price, and the support of our investor and strategic partner, Ocean Infinity, we are very pleased with our progress,” said Karl Kenny, Kraken’s President and CEO. “We see significant opportunities with our sensors and underwater robotic platforms in military and commercial markets. As such, we expect strong momentum to continue. We also expect additional opportunities to emerge for Kraken from the $300+ million funding available to the Ocean Supercluster. We will be submitting a multi-year, $30 million proposal called OceanVision™ to provide ultra-high definition seabed maps and subsea asset data to a wide range of Ocean Supercluster stakeholders including oil and gas, fisheries, science, transport, defence and others.”

*Subsequent Highlights Since September 30 Quarter End*

· *Acceleration of Ocean Infinity battery order and advance payments. *In November, Kraken announced that Ocean Infinity has issued a $6.5 million purchase order to Kraken for deep sea batteries. Under a $9 million deep-sea battery contract announced on August 1, 2018, Ocean Infinity issued an initial $2.5 million purchase order with the next $6.5 million purchase order expected in Q1 2019. Ocean Infinity has since accelerated the delivery schedule, with all battery shipments now planned to start at the end of 2018 and finishing in Q3 2019.
 
· Kraken will deliver batteries for five new Kongsberg Hugin Autonomous Underwater Vehicles (AUVs) recently purchased by Ocean Infinity, for integration at the manufacturer’s facility in Norway. With the change in scheduling, these new vehicles will take some of the delivery slots initially intended for replacement of existing AUV fleet batteries. As such, Kraken expects a follow-on order from Ocean Infinity in the second half of 2019 for additional batteries and spares, beyond the initial $9 million contract. 
 
· *Early Exercise of Warrants.* Since the end of Q3, Kraken has received almost $0.6 million from the early exercise of approximately 2.1 million warrants set to expire in April 2019.  To date, Kraken has received $835,666 in cash from the early exercise of 2,785,553 warrants which had an exercise price of $0.30 and were set to expire in April 2019. There remains approximately 3.1 million warrants with the same terms, which would generate another $0.9 million in cash for the Company if exercised.
 
· *$0.5 million contract win with DRDC.* In November, Public Works and Government Services Canada, issued a contract valued at $468,000 to Kraken. The end user is the Canadian Department of National Defence (DND). Under the contract, Kraken will provide testing, repairs, integration and upgrading of an AquaPix® INSAS sensor originally sold to DND for integration on the Artic Explorer Autonomous Underwater Vehicle in 2014.
 
· *Partnership with Leeway Marine.* In October Kraken announced a co-operation agreement with Leeway Marine where both companies will work together to integrate Kraken’s SeaScout® Expeditionary Seabed Mapping and Intelligence Systems onboard Leeway’s Striker high speed patrol vessel to create world’s fastest Minehunting & Hydrographic Patrol Vessel.

*Q**4** 2018** Outlook and Beyond*

We see significant opportunities with our sensors and underwater robotic platforms in military and commercial markets. We continue to believe that the significant investments we have made in new products and business development will open large new contracts to us over the coming year. In the meantime, we are working hard to execute efficiently on our existing backlog of approximately $13 million, most of which will be executed in 2019. This backlog excludes several contracts where we have been notified that we will be awarded and are working on the Statement of Work and/or Purchase Order terms. These total more than $4 million and are expected to get added to our backlog within the next 3 to 4 months. As such, we expect strong momentum to continue.

· *Commercial and Research *– We expect successful conclusion in December of the $750,000 PRNL project that was announced in Q4 2017. This project was focused on demonstration of Kraken’s SeaVision® 3D underwater laser imaging sensor and associated software. Kraken expects to deliver its first commercial version of SeaVision® to a European customer in Q4. Kraken expects its first battery delivery to Ocean Infinity at the end of Q4. During the quarter and subsequent to quarter end, Kraken completed several demonstrations for offshore oil and gas companies for applications such as subsea asset integrity inspection. We have given numerous presentations and technology demonstrations to participants in the offshore wind and marine renewables market and expect both our KATFISH™ and SeaVision® products to gain traction in these markets. Our German team at Kraken Robotik GmbH have started to ramp work on the ARIM and ROBOVAS contracts that Kraken was awarded mid-year. These are focused on autonomy software and our SeaVision® product.
 
· *Military - *On track for delivery of AquaPix® sonar sensor to a leading military customer in Q4. This $0.5 million contract was announced in Q2 2018. In addition, Kraken is involved in several active pursuits across North American and European Navies. These include responses to RFPs as various navies upgrade their mine-hunting sonars.  While Kraken is teamed with large defense contractors in these pursuits, in two cases so far, Kraken has been down-selected to a qualified finalist. Contracts are expected to be awarded to the bid winners in 2019.
 
· *Ocean Supercluster Project* – On November 16, 2018, the Ocean Supercluster announced that it had finalized its funding agreement with the Government of Canada for $153 million to be matched by industry for a total funding pool of over $300 million. Kraken has been developing a project called OceanVision™ and is preparing to submit a detailed proposal for Ocean Supercluster funding. OceanVision™ is a $30 million three-year initiative to provide ultra-high definition seabed and subsea asset data using our AquaPix® Synthetic Aperture Sonar and SeaVision® 3D laser imaging sensors deployed from Kraken’s various underwater robotic platforms. These datasets will be used to enhance machine learning and predictive analytics in the digital ocean economy. The project will provide benefits across a wide range of Ocean Supercluster constituents including oil and gas, fisheries, science, transport, defence and others. Kraken has been developing the OceanVision™ project over the past year and believes it has support from several key stakeholders. The OceanVision™ project will be used to further develop the system infrastructure, data sharing and business model development that will enable Kraken to offer its Robotics-as-a-Service to the global market.  It is expected that first project awards will be announced in Q1 2019. While there is no guarantee Kraken will be awarded funding for this project, management believes the OceanVision™ project is well positioned to meet the goals and requirements for Supercluster funding proposals. 

*ABOUT KRAKEN ROBOTICS INC.*
Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company that is dedicated to the production and sale of software-centric sensors and underwater robotic systems. The company is headquartered in St. John’s, Newfoundland with offices in Dartmouth, Nova Scotia; Toronto, Ontario; Bremen, Germany; and Boston, Massachusetts. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter. For more information, please visit www.krakenrobotics.com, www.krakenrobotik.de, www.krakenpower.de. Find us on social media on Twitter (@krakenrobotics), Facebook (@krakenroboticsinc) and LinkedIn.

Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. 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. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release.

For further information, please contact:

Greg Reid, Chief Financial Officer
(416) 818-9822
greid@krakenrobotics.com

Sean Peasgood, Investor Relations
(647) 955-1274
sean@sophiccapital.com

Glenda Leyte, Marketing Manager
(709) 757-5757 extension 288
gleyte@krakenrobotics.com Reported by GlobeNewswire 2 hours ago.

The National Marine Fisheries Service is reportedly planning to approve "incidental harassment authorizations" to allow five  -More-  Reported by SmartBrief 2 hours ago.

New York, Nov. 30, 2018 (GLOBE NEWSWIRE) -- Beazley has appointed Reese Lever as the company’s US marine underwriter in the South West region.

Reese joins Beazley’s office in Houston, Texas, from QBE where he was a vice president, marine, based in the same city.

A seasoned all lines marine underwriter, he is responsible for the development of the portfolio in the South West US. He will be targeting growth across a wide range of marine classes including primary and excess marine liabilities, hull and P&I.

He previously held senior underwriting roles at Zurich and Great American Insurance. This followed a career as a deck officer with Military Sealift Command and he is a graduate of United States Merchant Marine Academy in New York.

Stephen Vivian, head of US marine at Beazley, said: “It is a pleasure to welcome Reese to our team, as we continue to build out our US marine platform. Along with his product knowledge and underwriting experience, Reese will leverage his relationships with producers and brokers to develop a comprehensive, profitable book of marine business in the region.”

Note to editors:

Beazley plc (BEZ.L) is the parent company of specialist insurance businesses with operations in Europe, the US, Canada, Latin America, Asia and Australia. Beazley manages six Lloyd’s syndicates and in 2017 underwrote gross premiums worldwide of $2,344 million. All Lloyd’s syndicates are rated A by A.M. Best. 

Beazley’s underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd’s.

Beazley is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business. 

For more information please go to: www.beazley.com

BZPR_301118

CONTACT: Deborah Kostroun
Ketchum
201-403-8185
deborah.kostroun@ketchumzito.com Reported by GlobeNewswire 2 hours ago.

KEMP, Texas, Nov. 30, 2018 (GLOBE NEWSWIRE) -- Larson Electronics, a Texas-based company with over 40 years of experience spearheading the industrial lighting and power equipment sectors, announced the release of a portable power distribution panel offering a three-phase voltage of 208Y/120V and a 100-amp main circuit breaker. This unit allows operators to safely tap into power from generators and direct grid power.The MGP-208Y.120V-100MB-3PH-20X5.20A portable breaker panel is designed to operate with 208Y/120V three-phase voltage through a 100-amp main circuit breaker panel. This durable power distribution panel can power 120V equipment with ease via 20, 20-amp, 1-pole, 125V breakers protecting 125V duplex GFCI receptacles. This unit comes equipped with 20 feet of #4-4c/3w Type W cord to feed power into the main circuit breaker panel.

The MGP-208Y.120V-100MB-3PH-20X5.20A has a main load center that is protected via a 100-amp load center with breakers and is mounted inside the NEMA 3R enclosure. The power transformer and load center/distribution assembly are mounted on a standard upright steel dolly cart style frame with two run-flat tires.

These units are available up to 150KVA and can be equipped with skis or trailer mounted. This unit has can be modified for a variety of needs upon request. Suitable applications include indoor or outdoor use, construction sites, plant maintenance, plant turnarounds, hazardous location operations, shows, exhibits, shipyard operations and more.

*About Larson Electronics LLC: *Larson Electronics LLC is a manufacturer of industrial lighting equipment and accessories. The company offers an extensive catalog of industry-grade lighting and power distribution products for the following sectors: manufacturing, construction, food processing, oil and gas, military, marine and automobile. Customers can benefit from the company’s hands-on, customized approach to lighting solutions. Larson Electronics provides expedited service for quotes, customer support and shipments.

*For further information, please contact:*

Rob Bresnahan, President and CEO

Toll-free: 1-888-351-2363

Int’l: 214-616-6180

Fax: 903-498-3364

E-mail: sales@larsonelectronics.com

Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/ac8ee858-77ad-4914-9dd5-0f5aa3003f3e

http://www.globenewswire.com/NewsRoom/AttachmentNg/c9643b82-5d4a-4142-a99e-d1743d2aa838

http://www.globenewswire.com/NewsRoom/AttachmentNg/b59b1bc3-7c18-44e2-adeb-3a0016f71a15 Reported by GlobeNewswire 1 day ago.