Shifts narrative from “stop gathering” to “if you are going to gather, gather responsibly; here’s how”.

TORONTO--(BUSINESS WIRE)--A year ago, then 22 year old Lauren Holmes saw a spike in social media activity leading up to the May 24 long weekend showing youth in Ontario partying in large groups that was clearly not in line with social gathering restrictions in place at the time. In response, through her idea agency, Munchkin Media Group, she launched partyresponsibly.ca, the first national initiative dedicated to helping stop the spread of COVID-19 by raising awareness of responsible partying behavior among young adults 19+ while social gathering restrictions were in place.

Now, twelve months later with the pandemic still raging, vaccinations being added to the mix, and the summer “high season” for social contact among young adults nearly upon us once again, Lauren is launching a new initiative, gatherresponsibly.ca, aimed at the broader and now bigger issue (relative to the spread of COVID-19) of “gatherings” vs “parties” among young adults.

“If your province or region is under a stay-at-home order or in a lockdown, the most responsible way to gather is not to gather at all. If your province or region is not under a stay-at-home order or in a lockdown then as a young adult you are probably wondering how you can gather responsibly under whatever restrictions are in effect”, commented Ms. Holmes.

Gatherresponsibly.ca provides simple and easy to digest do’s and don’ts as to how to gather responsibly in a positive and engaging manner.

“Social media is clearly showing that young adults know they can’t do the big party thing at this point, and that they are shifting to planning smaller gatherings for the May 24 weekend and throughout the summer. Messaging needs to adapt to this shift and give guidance to young adults as to how to gather responsibly in an environment where with vaccinations progressing through the summer, there may be a tendency to let their guard down when they really cannot”, continued Ms. Holmes.

About Munchkin Media Group

Munchkin Media Group is an idea agency launched in 2018 by Lauren Holmes with four areas of focus (Munchkin Media, Munchkin Marketing, Munchkin Publishing and Munchkin Concepts). Initiatives have included the launch of partyresponsibly.ca, and the Canadian Student-Athlete Association.

Lauren Holmes
lauren@munchkinmediagroup.com
365-773-1282

Wattpad, the world’s leading social storytelling platform, and WEBTOON, the global leader in webcomics, are now both Naver brands, with a combined global monthly audience of more than 166 million people

Acquisition sets up Wattpad for continued growth and global leadership, including new investments in user initiatives to help Wattpad authors build an international audience and make money

Wattpad plans to grow its team by nearly 100 people in 2021

TORONTO & SEOUL--(BUSINESS WIRE)--Naver, South Korea’s internet conglomerate, and Wattpad, the global multi-platform entertainment company for original stories and a leading social storytelling platform, today announced that Naver has completed its acquisition of Wattpad in a cash and stock transaction valued at more than an estimated USD $600 million.

The company will remain headquartered in Canada under the continued leadership of founders Allen Lau and Ivan Yuen. CEO & co-founder Allen Lau will report to WEBTOON CEO Jun Koo Kim.

As part of the Naver family of world-class brands, Wattpad will focus on its continued growth and innovations, expanding its teams and developing new initiatives to reward writers on the platform. Wattpad will grow its teams by nearly 50% in 2021, adding close to 100 new roles in engineering, marketing, content, and other parts of the company to continue to execute its vision to entertain and connect the world through stories.

The acquisition strengthens Naver’s leadership in social storytelling and entertainment, adding Wattpad’s expertise in machine learning, IP discovery, and data-backed TV and film development to Naver’s world-class roster of entertainment and content brands like WEBTOON. Wattpad’s core app will continue to operate independently, while exploring new ways to collaborate with WEBTOON and other Naver brands.

With a global community of more than 90 million people--including five million writers--who have written more than one billion uploads on the platform, Wattpad is a global leader in social storytelling and entertainment. Wattpad’s creator-first approach to nurturing and supporting reading and writing communities has helped authors around the world build a global audience and make money on the platform. The company recently celebrated a key milestone: since launching in 2019, writers in Wattpad’s Paid Stories program have earned more than a million dollars. Along with sponsored brand partnerships, and TV, film, and book adaptations, Wattpad Paid Stories are just one of a growing number of paths for Wattpad writers to earn money from their work.

Wattpad has created a new type of online writing influencer, catapulting a new generation of authors to international fame. The company’s Story DNA Machine Learning technology has revolutionized the art and science of understanding and finding great stories to adapt for TV, film, or to publish as books.

As previously announced, the acquisition will align Wattpad with Naver’s WEBTOON, and the company's monthly average of 76 million users around the world. Together, these two leading comics, entertainment, and storytelling companies, will reach a combined global monthly audience of more than 166 million people. WEBTOON is home to some of the biggest names in webcomics, including Lore Olympus, Rachel Smythe's Eisner Award-nominated series. WEBTOON Studios has worked with The Jim Henson Company; Crunchyroll; Vertigo Entertainment - the production company behind the IT franchise and The Lego Movie; Bound Entertainment - the global studio led by Snowpiercer and Okja producer Samuel Ha.

“Wattpad has created something truly unique: an engaged, positive global community of people who share a passion for great stories,” said Seong-Sook Han, CEO of Naver. "Through this acquisition, it is expected that the synergy between WEBTOON and Wattpad will be even greater. Gen Z around the world have fallen in love with storytelling platforms like Wattpad and WEBTOON. With a growing global user base of Gen Z readers and writers on Wattpad and WEBTOON, combined with hundreds of millions of incredible stories to fuel on-screen hits, Naver is quickly becoming an important player in the global entertainment and content market.”

“Wattpad has redefined writing in the digital era, creating new ways for indie authors to build a global audience and make money,” said WEBTOON founder and CEO, Jun Koo Kim. “We’re thrilled to have Wattpad join Naver and WEBTOON, aligning our teams and global communities to create more opportunities for writers everywhere.”

“We founded Wattpad with a vision to entertain and connect the world through stories,” said Allen Lau, CEO & co-founder, Wattpad. “By joining the Naver family of companies, we’re continuing that vision, with more resources and expertise to grow our global community and help writers everywhere achieve their dreams. Alongside Naver and WEBTOON, we’re positioned for faster growth and continued innovation to support writers and transform publishing and entertainment around the world.”

Wattpad announced a series of high profile innovations and global entertainment successes in Q1 2021. In March, Wattpad Brand Partnerships launched Wattpad Brand Originals, a new branded entertainment offering to develop branded TV series, films, podcasts, and digital media projects from hit Wattpad stories.

Wattpad’s award-winning work in TV, film, and publishing is transforming the global entertainment industry, using machine learning, audience insights, and data-backed development to create hit TV shows, films, and published books. Wattpad Books publishes a new generation of diverse authors and stories the world needs to read, combining art and science to find the trends, genres, and writers that will shape the future of publishing.

The company’s studio division, Wattpad Studios, currently has 90 TV and film projects in development with partners around the world, including the upcoming Netflix Original film with Nostromo Pictures, A Través de mi Ventana, based on Ariana Godoy’s 176 million read Wattpad sensation of the same name; and Blair Holden’s The Bad Boy's Girl, currently being developed as a film with the legendary Leone Film Group. Wattpad’s Vidio Original series Turn On, from Vidio, Wattpad, and Screenplay Films, broke records to become Vidio’s most-watched series so far in 2021, with 10 million views and a second season greenlight.

Among Wattpad’s growing slate of hit TV and film projects is the People’s Choice Award-winning After, from Voltage Pictures. The story began on Wattpad, accumulating more than one billion reads on the platform before becoming an international best-seller and film franchise. After also won three Teen Choice Awards in 2019, and the sequel After We Collided was an indie hit in 2020. Four additional films in the franchise are in production or development, for a total of six planned films in the After series.

ABOUT NAVER

Naver invests in the pursuit of transformation and innovation of technology platforms and is devoted to shared growth by connecting global users and partners. Founded in 1999, Naver is Korea’s largest information technology company. Naver operates Korea’s No.1 search engine and largest e-commerce platform, and is a leading provider of fintech services, digital content and cloud services to a global community. Naver cultivates a culture of ‘Founder-type leaders’ who continue to launch innovative mobile applications, including LINE (Japan’s No.1 messaging app), WEBTOON and SNOW. In 2018, Naver was ranked as the 9th most innovative company by Forbes and top 6th Future 50 company by Fortune magazine.

ABOUT WATTPAD

Wattpad’s vision is to entertain and connect the world through stories. Wattpad’s flagship app is a leading social storytelling platform, home to a community of more than 90 million people who spend over 23 billion minutes a month engaged in original stories. Wattpad’s Story DNA Machine Learning technology allows the company to discover stand-out stories among more than one billion uploads written on the platform. Wattpad Studios and Wattpad Books are transforming entertainment and publishing, using data-backed insights to turn Wattpad stories into books, films and TV shows. Wattpad Brand Partnerships help brands build deep engagement with Gen Z consumers. The company is proudly based in Toronto, Canada. Learn more at company.wattpad.com.

Wattpad
Kiel Hume, Director of PR & Communications
Kiel@wattpad.com; 1-416-908-3604

Naver
Jungyoon Cha
jungyoon.cha@navercorp.com

SAINT-EUSTACHE, Quebec--(BUSINESS WIRE)--HGreg has been named a 2021 winner of the Canada’s Best Managed Companies program, a national designation that recognizes companies that have excelled in areas of strategy, innovation, financials, culture and commitment to achieving sustainable growth. The 2021 Best Managed program award winners are among the best-in-class of Canadian owned and managed companies with revenues exceeding $25 million. Now in its 28th year, Canada’s Best Managed Companies remains one of the country’s leading business awards programs recognizing Canadian-owned and managed companies for innovative, world-class business practices.

“Receiving this award is a significant achievement, especially during times such as these,” says John Hairabedian, president and CEO of HGreg, one of the fastest growing automotive groups in North America. “It’s a testament to the good work of associates and a sign that we’re living up to our mission of redefining the car buying experience.”

The past year has been one of innovation and growth for HGreg – branded as HGrégoire in Quebec, HGreg.com in the U.S. The company recently expanded into the west coasts of Florida (Tampa) and the U.S. (Los Angeles), earned the titles of best-selling Nissan dealership in both Canada and the U.S. and started accepting payment by cryptocurrency.

Applicants of Canada’s Best Managed Companies program are evaluated by an independent judging panel comprised of representatives from program sponsors in addition to special guest judges. 2021 Best Managed companies share commonalities that include enabling a remote workforce, making employee health a top priority, acting with an increased sense of purpose and social responsibility, and a significantly heightened focus on cash flow.

2021 winners of the Canada’s Best Managed Companies award will be honoured at a virtual gala. The Best Managed virtual symposium will address leading-edge business issues that are key to the success of today’s business leaders. The Best Managed program is sponsored by CIBC, Canadian Business, Smith School of Business and TMX Group.

About HGreg

Founded in 1993, HGreg- which includes both HGregoire and HGreg.com- is committed to simplifying the car buying process through its core values of excellence in customer service, transparency, smart use of technology and a refreshing customer-focused philosophy. Supported by a passionate team of more than 1,900 car lovers, HGreg operates 32 dealerships in North America, including 20 in Quebec, offering both pre-owned and new vehicles. For more information visit hgregoire.com.

About Canada’s Best Managed Companies

Canada’s Best Managed Companies continues to be the mark of excellence for Canadian-owned and managed companies with revenues over $25 million. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on four levels: 1) Canada’s Best Managed Companies new winner (one of the new winners selected each year); 2) Canada’s Best Managed Companies winner (award recipients that have re-applied and successfully retained their Best Managed designation for two additional years, subject to annual operational and financial review); 3) Gold Standard winner (after three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully retained their award for 4-6 consecutive years); 4) Platinum Club member (winners that have maintained their Best Managed status for seven years or more). Program sponsors are CIBC, Canadian Business, Smith School of Business, and TMX Group. For more information, visit www.bestmanagedcompanies.ca.

Noémia L’Heureux-Daigneault
HGreg
(450) 472-7272, ext. 1183
noemia@hgregoire.com

Tia Giannone
Torchia Communications
(514) 999-1732
tia@torchiacom.com

Leading lifestyle travel brand seeking to expand licensing capabilities and develop consumer products

ORLANDO, Fla.--(BUSINESS WIRE)--Travel + Leisure Group, the newly established business line under Travel + Leisure Co. (formerly Wyndham Destinations; NYSE: TNL), launched a new brand licensing business to create a line of premium consumer products leveraging the iconic Travel + Leisure brand. Brand licensing will expand the company’s capacity to bring the Travel + Leisure brand to life through consumer products and services.

“Travel + Leisure is one of the most iconic names in travel, and as the new stewards of the brand, our goal at Travel + Leisure Group is to thoughtfully develop this brand beyond inspiration and into curated products and services that travelers can feel, touch and experience firsthand,” said Noah Brodsky, president of Travel + Leisure Group and chief brand officer for Travel + Leisure Co. “As we look towards the evolution of this storied brand, brand licensing will play a pivotal role in bringing our vision to life to expand our brand into new and unique areas.”

Travel + Leisure Group provides products and services developed to inspire travelers. The company is expanding beyond the pages of Travel + Leisure magazine by utilizing its expert-curated multi-platform content with the recent launch of the online travel gateway BookTandL.com, a new subscription travel club set to launch this summer, as well as consumer products like the Travelpro® x Travel + Leisure luggage collection.

Travel + Leisure Group’s brand licensing efforts will be spearheaded by veteran licensing expert Phil Raso, who joins the company in a newly created role as Director of Brand Licensing. Raso will be responsible for creating Travel + Leisure Group’s brand licensing long-term growth plan, developing its consumer products portfolio and expanding the company’s retail footprint.

“Travel + Leisure’s 50 years of expertise in the travel space opens us up to some incredible licensing opportunities. We can leverage that history and bring travel enthusiasts a multitude of purposeful products to serve their travel dreams,” said Raso. “Imagine Travel + Leisure not only inspiring your vacation ideas but also being with you throughout your journey— it is a thrilling prospect that we are eager to develop.”

Before joining the Travel + Leisure Group, Raso oversaw the licensed industrial products and publishing categories at Caterpillar Inc. He was instrumental in launching multiple products including the world’s strongest shovel, rugged coolers, and a line of award-winning smartphones. He has also actively served on various committees and benchmarking teams for the Society of Product Licensors Committed to Excellence (SPLiCE) trade organization.

For more information about Travel + Leisure Group and licensing opportunities, visit the Travel + Leisure Group page.

About Travel + Leisure Group

Travel + Leisure Group offers travelers a way to turn vacation inspiration into exceptional experiences through the top online and print travel content, online travel subscription and booking services, and branded consumer products all together in one place. This business provides a suite of products and services to inspire travelers with Travel + Leisure’s trusted expert multi-platform content, including subscription travel clubs, online travel gateway BookTandL.com, and brand licensing agreements. Learn more at https://www.travelandleisureco.com/us/en/our-brands/travel-leisure-group.

Media Contact:
Christina Baez
(786) 860-9305
Media@wyn.com

Company Achieves Third Consecutive Quarter of Improvement in Net Sales Trend; Strong Operating Performance Drives Increases in Margin and Free Cash Flow, Enabling Further Debt Reduction

SUSSEX, Wis.--(BUSINESS WIRE)--Quad/Graphics, Inc. (NYSE: QUAD) (“Quad” or the “Company”), today reported results for the first quarter of 2021.

Recent Highlights

• Achieved third consecutive quarter of improvement in net sales decline rate since the height of the pandemic.
• Achieved margin expansion and new business wins in agency solutions and print, while continuing to align costs to demand environment.
• Increased cash from operating activities to $73 million and Free Cash Flow to $56 million, up from $45 million and $16 million in 2020, respectively.
• Reduced Net Debt by $61 million during the first quarter and improved the Debt Leverage Ratio to 3.24x at March 31, 2021.
• Maintained strong liquidity position with up to $463 million in unused capacity under Quad’s revolving credit agreement and $81 million of cash on hand.

“We are very pleased with our performance during the first quarter,” said Joel Quadracci, Chairman, President & CEO of Quad. “Our team achieved a third straight quarter of improvement in net sales decline rate, increased our adjusted EBITDA margin, and drove higher cash flows. These positive trends included new business wins in agency solutions and print, reflecting how well our integrated marketing solutions offering is resonating in the marketplace. We remain focused on growing segment share and managing costs to drive strong cash flow, which will enable further debt reduction.

“We continue to leverage our commitment to client focus, platform excellence, innovation, strong culture and social purpose to accelerate our competitive position as a worldwide marketing solutions partner. Our integrated marketing platform creates superior value for our clients by helping them reduce the complexity of working with multiple agency partners and vendors, increase efficiencies, and improve marketing spend effectiveness across all channels. Our state-of-the-art offering and commitment to innovation has allowed us to establish and expand relationships with valued brands across top-performing verticals, including consumer technology, healthcare, finance and consumer-packaged goods. Our offering includes robust research capabilities to help brands and marketers better understand the drivers of consumer engagement and their purchasing journey, built on sound data and analytics. Recently, we announced our expanded partnership with Package InSight, an organization that studies brand packaging performance, consumer attention and shelf impact, to enhance this differentiating aspect of our offering.

“We will continue to remain nimble and adapt to the rapidly evolving demand landscape as the economy re-opens. We will remain disciplined in how we manage all aspects of our business, including taking advantage of value-creating opportunities that will help accelerate our transformation into higher margin products and services, and enhance our financial strength and create shareholder value. Notably, our strong culture and values include an enduring focus on social and environmental matters, and the benefit that this focus brings to the company and the communities we serve. For example, our comprehensive and sustainable diversity, equity and inclusion strategy is a moral and business imperative as it will ensure we attract and retain the talent we need to successfully compete and grow as a trusted marketing solutions partner. Similarly, our long-standing focus on conserving raw materials, minimizing waste and recycling make a meaningful impact on both the environment and the value we create.”

Summary Results

Results for the three months ended March 31, 2021, include:

• Net Sales — Net sales were $706 million in the first quarter of 2021, down 14% from the same period in 2020, primarily due to the economic impact from the COVID-19 pandemic, and ongoing print industry volume pressures. The first quarter decline represents a third quarter of sequential revenue improvement during the pandemic, as compared to a 21% decline in the fourth quarter of 2020, a 28% decline in the third quarter of 2020 and a 38% decline in the second quarter of 2020.

• Net Earnings (Loss) From Continuing Operations — Net earnings from continuing operations were $10 million or $0.19 diluted earnings per share in the first quarter of 2021, an increase of $19 million compared to the first quarter of 2020, which recorded a net loss of $9 million or $0.17 diluted loss per share.

• Adjusted EBITDA — Adjusted EBITDA was $66 million in the first quarter of 2021, as compared to $75 million in the same period in 2020, while Adjusted EBITDA margin improved to 9.3% in 2021, as compared to 9.2% in 2020. The variance in Adjusted EBITDA to prior year reflects the impact of the net sales decline and $18 million of nonrecurring benefits realized in 2020, including a $12 million benefit from a change in the hourly production employee vacation policy, and a $6 million benefit in the cost of worker’s compensation claims from improved production safety procedures. These impacts were partially offset by savings from cost reduction initiatives. Adjusted EBITDA margin improved 15 basis points driven by cost savings initiatives more than offsetting the relative percentage decline in sales.

• Net Cash Provided by Operating Activities — Net cash provided by operating activities increased by $28 million to $73 million in the first quarter of 2021, as compared to $45 million in the same period in 2020, primarily due to improvements in working capital.

• Free Cash Flow — Free Cash Flow increased by $40 million to $56 million in the first quarter of 2021, as compared to $16 million in the same period in 2020, primarily due to higher net cash provided by operating activities as described above and a $12 million decrease in capital expenditures.

Dave Honan, Executive Vice President and CFO, concluded: “Our commitment to disciplined cost management and productivity improvements drove a higher Adjusted EBITDA margin and, when combined with new agency and print business wins, helped us deliver solid financial results despite the impact of the pandemic. This included a substantial increase in our Free Cash Flow, which enabled us to reduce Net Debt by $61 million and improve our Debt Leverage Ratio to 3.24x. We will continue to use our strong Free Cash Flow, in addition to proceeds from asset sales, to further reduce debt, and we expect to further improve our Debt Leverage Ratio to be at or near 3.0x by the end of 2021.”

Quarterly Conference Call

Quad will hold a conference call at 10 a.m. ET on Wednesday, May 5, to discuss first quarter 2021 results. As part of the conference call, Quad will conduct a question and answer session. Investors are invited to email their questions in advance to IR@quad.com.

Participants can pre-register for the webcast by navigating to https://dpregister.com/sreg/10155015/e6ee4a26aa. Participants will be given a unique PIN to gain immediate access to the call on May 5, bypassing the live operator. Participants may pre-register at any time, including up to and after the call start time.

Alternatively, participants without internet access may dial in on the day of the call as follows:

• U.S. Toll-Free: 1-877-328-5508
• International Toll: 1-412-317-5424

An audio replay of the call will be posted on the Investors section of Quad’s website shortly after the conference call ends. In addition, telephone playback will also be available until June 5, 2021, accessible as follows:

• U.S. Toll-Free: 1-877-344-7529
• International Toll: 1-412-317-0088
• Replay Access Code: 10155015

Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, our current expectations about the Company’s future results, financial condition, sales, earnings, free cash flow, margins, objectives, goals, strategies, beliefs, intentions, plans, estimates, prospects, projections and outlook of the Company and can generally be identified by the use of words or phrases such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “plan,” “foresee,” “project,” “believe,” “continue” or the negatives of these terms, variations on them and other similar expressions. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results to be materially different from those expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company’s expectations and judgments and are subject to a number of risks and uncertainties, many of which are unforeseeable and beyond our control.

The factors that could cause actual results to materially differ include, among others: the negative impacts the coronavirus (COVID-19) has had and will continue to have on the Company’s business, financial condition, cash flows, results of operations and supply chain, as well as the global economy in general (including future uncertain impacts); the impact of decreasing demand for printed materials and significant overcapacity in the highly competitive environment creates downward pricing pressures and potential underutilization of assets; the impact of digital media and similar technological changes, including digital substitution by consumers; the impact of fluctuations in costs (including labor and labor-related costs, energy costs, freight rates and raw materials) and the impact of fluctuations in the availability of raw materials; the inability of the Company to reduce costs and improve operating efficiency rapidly enough to meet market conditions; the impact of the various restrictive covenants in the Company’s debt facilities on the Company’s ability to operate its business, as well as the uncertain negative impacts COVID-19 may have on the Company’s ability to continue to be in compliance with these restrictive covenants; the impact of increased business complexity as a result of the Company’s transformation to a marketing solutions partner; the impact negative publicity could have on our business; the failure to successfully identify, manage, complete and integrate acquisitions, investment opportunities or other significant transactions, as well as the successful identification and execution of strategic divestitures; the failure of clients to perform under contracts or to renew contracts with clients on favorable terms or at all; the impact of changing future economic conditions; the fragility and decline in overall distribution channels; the impact of changes in postal rates, service levels or regulations; the failure to attract and retain qualified talent across the enterprise; the impact of regulatory matters and legislative developments or changes in laws, including changes in cyber-security, privacy and environmental laws; significant capital expenditures may be needed to maintain the Company’s platforms and processes and to remain technologically and economically competitive; the impact of risks associated with the operations outside of the United States, including costs incurred or reputational damage suffered due to improper conduct of its employees, contractors or agents; the impact of an other than temporary decline in operating results and enterprise value that could lead to non-cash impairment charges due to the impairment of property, plant and equipment and intangible assets; the impact on the holders of Quad’s class A common stock of a limited active market for such shares and the inability to independently elect directors or control decisions due to the voting power of the class B common stock; and the other risk factors identified in the Company’s most recent Annual Report on Form 10-K, which may be amended or supplemented by subsequent Quarterly Reports on Form 10-Q or other reports filed with the Securities and Exchange Commission.

Except to the extent required by the federal securities laws, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Non-GAAP Financial Measures

This press release contains financial measures not prepared in accordance with generally accepted accounting principles (referred to as Non-GAAP), specifically Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, Net Debt, Debt Leverage Ratio and Adjusted Diluted Earnings (Loss) Per Share From Continuing Operations. Adjusted EBITDA is defined as net earnings (loss) attributable to Quad common shareholders excluding interest expense, income tax expense (benefit), depreciation and amortization, restructuring, impairment and transaction-related charges, (loss) earnings from discontinued operations, net of tax, net pension income, loss (gain) on debt extinguishment, equity in (earnings) loss of unconsolidated entity, the Adjusted EBITDA for unconsolidated equity method investments (calculated in a consistent manner with the calculation for Quad) and net earnings (loss) attributable to noncontrolling interests. Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by net sales. Free Cash Flow is defined as net cash provided by operating activities less purchases of property, plant and equipment. Debt Leverage Ratio is defined as total debt and finance lease obligations less cash and cash equivalents (Net Debt) divided by the last twelve months of Adjusted EBITDA. Adjusted Diluted Earnings (Loss) Per Share From Continuing Operations is defined as earnings (loss) from continuing operations before income taxes and equity in (earnings) loss of unconsolidated entity excluding restructuring, impairment and transaction-related charges, loss (gain) on debt extinguishment, and adjusted for income tax expense at a normalized tax rate, divided by diluted weighted average number of common shares outstanding.

The Company believes that these Non-GAAP measures, when presented in conjunction with comparable GAAP measures, provide additional information for evaluating Quad’s performance and are important measures by which Quad’s management assesses the profitability and liquidity of its business. These Non-GAAP measures should be considered in addition to, not as a substitute for or superior to, net earnings (loss) as a measure of operating performance or to cash flows provided by operating activities as a measure of liquidity. These Non-GAAP measures may be different than Non-GAAP financial measures used by other companies. Reconciliation to the GAAP equivalent of these Non-GAAP measures are contained in tabular form on the attached unaudited financial statements.

About Quad

Quad (NYSE: QUAD) is a worldwide marketing solutions partner that leverages its 50-year heritage of platform excellence, innovation, strong culture and social purpose to create a better way for its clients, employees and communities. The Company’s integrated marketing platform helps brands and marketers reduce complexity, increase efficiency and enhance marketing spend effectiveness. Quad provides its clients with unmatched scale for client on-site services and expanded subject expertise in marketing strategy, creative solutions, media deployment (which includes a strong foundation in print) and marketing management services. With a client-centric approach that drives the Company to continuously evolve its offering, combined with leading-edge technology and single-source simplicity, the Company has the resources and knowledge to help a wide variety of clients in multiple vertical industries, including retail, publishing, consumer technology, consumer packaged goods, financial services, insurance, healthcare and direct-to-consumer. Quad has multiple locations throughout North America, South America and Europe, and strategic partnerships in Asia and other parts of the world. For additional information visit www.QUAD.com.

The Condensed Consolidated Statements of Cash Flows include the cash flows related to the United States Book business for the three months ended March 31, 2020.

______________________________

The segment information contained in the above table does not include the operating results related to the United States Book business for the three months ended March 31, 2020.

Investor Relations Contact
Katie Krebsbach
Investor Relations Lead, Quad
414-566-4247
kkrebsbach@quad.com

Media Contact
Claire Ho
Director of Corporate Communications, Quad
414-566-2955
cho@quad.com

The company aims to launch 50 community brands and hire 250 journalists and creators by 2023

VICTORIA, British Columbia--(BUSINESS WIRE)--Strong communities and trusted news sources are needed more than ever before. A new company is ready to breathe life into the media industry and it's targeting local communities.

Launching today is Overstory Media Group (OMG), an independent media company that delivers high-quality, fact-based journalism and storytelling. OMG provides tools, resources and financial support to help brands and journalists create in their community.

OMG is founded by Farhan Mohamed, former Editor-in-Chief and co-owner of Daily Hive, and tech entrepreneur Andrew Wilkinson. Mohamed helped grow Daily Hive from a passion project to a fully operating newsroom across Canada reaching 6.5 million people monthly. Wilkinson is the Co-founder of Tiny, a Canadian technology holding company that owns businesses like MetaLab, Dribbble, Girlboss, and WeCommerce.

The company already has an established and growing network of community-based brands in its ecosystem including Capital Daily, Vancouver Tech Journal, Fraser Valley Current, Burnaby Beacon, and Decomplicated. Its community creators are award-winning journalists, producers, creatives, and curious minds all of whom have joined the company in its journey to create meaningful change and fill in the gaps in community journalism.

“Our media network is a collective of like-minded individuals who care deeply about their community and the stories that drive them. Communities are transforming and the pandemic has shown us that more than ever before, people are searching for ways to connect,” says Farhan Mohamed, Co-founder & CEO, OMG. “We intend to help people find common ground through storytelling. In an era of news fatigue, we believe that informed communities are empowered communities and that content is best delivered by the people within them.”

“I’ve always loved the news and wanted to give back to my community of Victoria, so in 2019, I set out to recreate the local newspaper in digital form by creating a simple daily newsletter focused on my hometown. Today, Capital Daily has nearly 50,000 subscribers in a city with a population of 400,000,” says Andrew Wilkinson, Co-founder & Executive Chairman, OMG. “Now through OMG, we get to help others create in their community - whether connected by geography, industry, or interests.”

With Mohamed at the helm, the company aims to expand across Canada and abroad, launch 50 community brands by 2023 and hire 250 journalists under its roster. With a suite of 10 successful brands already under its belt, they're well on their way.

“When I try to persuade talented journalists to join the Capital Daily team, I tell them, ‘This is the place where you can write the stories your editor won’t let you write,’” says Jimmy Thomson Managing Editor, Capital Daily. “OMG is encouraging us to think this way: we don’t chase the bouncing ball, we step back and ask how we can meaningfully add something to the conversation. That’s what journalists want to do, and it’s largely missing from the media landscape today.”

“We look forward to continuing to expand and support our resilient network of brands who are bridging gaps in our communities,” added Mohamed. “We encourage anyone with a budding idea and interest in the work we’re doing in communities to connect with us.”

About Overstory Media Group (OMG)

Overstory Media Group (OMG) is an independent Canadian media company with a network of more than 10 brands and growing across all digital platforms. The OMG community is a collective of more than 30 full-time employees including award-winning journalists, producers, creatives and creators, delivering thoughtful content to hundreds of thousands people, each day. Our storytelling and highly-engaged audience provides our partners fresh ways to tell their stories and connect with communities around the world.

For more information, visit: www.omgmedia.com

OMG Media Relations
Jesse Paterson
416 577 2970
press@omgmedia.com

ManageEngine OpManager, Corvil Analytics, and Progress WhatsUp Gold are the 2021 Network Monitoring Emotional Footprint Champions.

TORONTO--(BUSINESS WIRE)--SoftwareReviews, a division of IT research and advisory firm Info-Tech Research Group, has published its 2021 Network Monitoring Emotional Footprint Awards, naming three vendors as Champions. The following vendors are champions according to the feedback provided by their users via SoftwareReviews’ comprehensive online survey.

ManageEngine OpManager
Corvil Analytics
Progress WhatsUp Gold

“You can’t manage what you can’t see. And while network monitoring software has always been critical to understanding where anomalies and outages occur, what’s driving them, and how they can be resolved with minimal impact to the business, the pandemic has made this an even more crucial capability for any organization in any sector,” says Mark Tauscheck, vice president, IT research infrastructure, Info-Tech Research Group. “Organizations want and need solutions that allow them to improve network performance even as the environment around them becomes increasingly complex. Our Emotional Footprint Report reinforces the importance of choosing the network monitoring solution that aligns most closely with the organization’s specific needs and illustrates how vendors continue to improve their offerings in this mission-critical market.”

SoftwareReviews’ Net Emotional Footprint measures high-level user sentiment. It aggregates emotional ratings from 25 provocative questions, creating a powerful indicator of the overall user feeling toward the vendor and the product.

ManageEngine OpManager, with a Net Emotional Footprint of +92, performed exceptionally in many categories, exceeding user expectations in being caring and showing integrity. Corvil Analytics, with a Net Emotional Footprint of +90, excelled in being respectful and efficient. Progress WhatsUp Gold, with a Net Emotional Footprint of +85, performed well in being altruistic.

In general, Network Monitoring software users responded most favorably when asked about vendors’ service experience and quality and effectiveness of service– and were most dissatisfied with vendors over-promising to deliver.

What Is the Emotional Footprint Diamond?

The Emotional Footprint Diamond illustrates the customer experience with software vendors and a complex relationship spanning procurement, implementation, service, and support. The Net Emotional Footprint of a vendor is a result of aggregated emotional response ratings in the areas of service, negotiation, product impact, conflict resolution, and strategy and innovation, creating a powerful indicator of overall user feeling toward the vendor and its product from the software user’s point of view. The data published in the Emotional Footprint Diamond is collected from real end-users through authentic software review surveys and meticulously verified. The survey uses standard net promoter scoring (positive percentage minus negative percentage) to arrive at the Net Emotional Footprint score. These skillfully crafted survey questions are informed by two decades of IT research and advisory. Vendors with top user scores receive the Emotional Footprint Award. The Emotional Footprint Awards, an initiative proudly founded in 100% user-review data, is free of traditional components such as market presence and analyst opinion, which are opaque in nature and may be influenced by vendor pressure, financial or otherwise.

About SoftwareReviews:

SoftwareReviews is a division of Info-Tech Research Group, an IT research and advisory firm established in 1997. Backed by two decades of IT research and advisory experience, SoftwareReviews is a leading source of expertise and insight into the enterprise software landscape and client-vendor relationships. By collecting real data from IT and business professionals, the SoftwareReviews methodology produces detailed and authentic insights into the experience of evaluating and purchasing enterprise software.

Indrani Ray
Vice President, Communications and Brand
irayghosal@infotech.com
647.574.9559

VANCOUVER, British Columbia--(BUSINESS WIRE)--#AI--Knowledge management and library automation software developer Lucidea is once again sponsoring the Special Libraries Association’s exciting virtual interactive learning experience on April 29^th. As Presenting Sponsor of the InfoTrends event, they invite you to join them and your fellow librarians and information professionals to enjoy expert speakers, engaging discussions, and networking opportunities.

Lucidea is a long-time active supporter of librarians, knowledge managers, and other information professionals, and is proud to sponsor this new InfoTrends experience, designed as it is to explore emerging technologies, as well as new search and discovery strategies and tools.

It is Lucidea’s hope that their integrated library system and knowledge management software is helping mitigate the effects of the current pandemic on organizations, collections, and the profession.

Lucidea specialists look forward to interacting with you in their Virtual Booth, featuring powerful ILS and KM products SydneyEnterprise, GeniePlus, and Inmagic Presto. See why so many librarians choose Lucidea’s library automation and knowledge management systems for their libraries of all sizes and budgets. When you visit Lucidea’s Virtual Booth, you can enter to win a Kindle, download free content—like whitepapers and eBooks from Lucidea Press—or watch free webinars presented by experts including Stephen Abram, Stan Garfield, and Jean O'Grady.

In the meantime, contact them with any questions at 604-278-6717 or www.lucidea.com

Mark Maslowski
Marketing Manager
604-278-6717
mmaslowski@lucidea.com

Industry pays tribute to agency CEO’s outstanding leadership and recognizes Klick Ventures with Vision Award

TORONTO & NEW YORK--(BUSINESS WIRE)--Klick Health today proudly announced that its Chief Executive Officer Lori Grant was named 2021 Industry Person of the Year at Med Ad News’ 32nd Annual Manny Awards. Held virtually last night, the Manny Awards also recognized Klick Ventures with the Vision Award.

Med Ad News described Grant as “a highly regarded thought leader and proactive problem solver,” who, “has been instrumental in building Klick’s thriving client roster, client services teams, and in the company’s overall growth and success.”

Klick Co-Founder and Chairman Leerom Segal said, “Over the past 15 years, Lori has continued to amaze, inspire, and lead our organization in ways that are so remarkable. I am proud to call Lori a mentor, a confidante, an inspiration, and most importantly, a friend who I would trust with anything. Lori knows how to ask the tough questions and she’s equally comfortable making tough decisions, but always with a warm and kind heart.”

“Thank you to Med Ad News for this great honor,” Grant said in her pre-recorded acceptance speech, acknowledging that her work in healthcare is her life’s passion. “Honors like this do not come based on singular achievements, but on the collective achievements of many people, so I want to extend a huge thank you to my Klick family. The pandemic has brought to the forefront the importance of health, healthcare, and our industry...People are openly discussing what we can do to ensure the overall health of our wider communities. And people have a new appreciation for healthcare workers, frontline emergency room staff, and the entire healthcare community.”

People-first champion and highly regarded thought leader
A people-first champion, Grant has over 30 years of strategic leadership and healthcare marketing industry expertise on both the client and agency sides. She was named CEO in December 2019 after serving as President for six years. Then in early March 2020, she and her leadership team made the unprecedented decision to move to work from home, ahead of the curve, to protect the health and safety of Klicksters, their families, and their clients, when others suggested they were overreacting to the threat of COVID-19.

Klick Chief Creative Officer Rich Levy wrote in his nomination of Grant, “She has steered our valiant ship through what has been the most turbulent storm in our lifetimes, all the while leading our business through ongoing significant growth, demonstrating what a people-first culture is really all about, and further illustrating just how different Klick is.”

As a highly regarded industry thought leader, Grant sits on the Google Health Advisory Board, Canada’s Most Admired Corporate Cultures’ Board of Governors, and the Digital Health Coalition Advisory Board. She has also been recognized on the Women Executive Network’s (WXN) Top 100 Most Powerful Women in Canada, PharmaVOICE 100 Most Inspiring People in Health, Medical Marketing + Media’s (MM+M) inaugural “Hall of Femme,” and she has been named a PM360 ELITE Mentor.

Vision Award-winner Klick Ventures was honored for its progressive thinking and mandate. As the company’s health innovation-focused venture group, it builds on over two decades of partnering with life science companies to commercialize their businesses successfully. With a unique approach backed by proven playbooks and a highly experienced integrated team, Klick Ventures partners with investors to get ideas investment-ready and create commercial upside. It also partners with entrepreneurs to incubate their ideas and help ensure commercial success. For instance, Ventures played a foundational role in disrupting the non-emergency medical transportation model by co-founding and incubating Circulation, which was successfully built and exited in under two years.

For more than three decades, the Manny Awards have paid tribute to the creative work of agencies serving the healthcare market, their people, and their contributions to the industry.

About Klick Health
Klick Health is the world’s largest independent commercialization partner for life sciences. For over two decades, Klick has been laser-focused on developing, launching, and supporting life sciences brands to maximize their full market potential. Klick was named Large Agency of the Year for 2020 by Medical Marketing + Media (MM+M), marking its ninth Agency of the Year industry award in nine years. Follow Klick Health on Twitter at @KlickHealth. For more information on joining Klick, go to careers.klick.com.

About Klick Group
The Klick Group of companies—Klick Health (including Klick Katalyst), Klick Media Group, Klick Applied Sciences (including Klick Labs), Klick Consulting, Klick Ventures, and Sensei Labs—is an ecosystem of brilliant talent collectively working to maximize their people and clients’ full potential. Established in 1997, Klick has teams in New York, Philadelphia, Toronto, and across North America. Klick has consistently been named a Best Managed Company and Great Place to Work. In 2020, the company was recognized with 14 Best Workplace awards, including Best Workplaces for Women, Best Workplaces for Inclusion, Employee-Recommended Workplaces, Most Admired Corporate Cultures, and FORTUNE’s Best Places to Work in New York.

For media inquiries:
Marisa McWilliams, Manager, Communications & PR
pr@klick.com
416-214-4977

Sheryl Steinberg, VP, Communications
pr@klick.com
416-214-4977

TORONTO--(BUSINESS WIRE)--Postmedia Network Canada Corp. (“Postmedia” or the “Company”) today released financial information for the three and six months ended February 28, 2021.

“Our second quarter represents continued progress on our strategy with measured optimism for the future,” said Andrew MacLeod, President and Chief Executive Officer, Postmedia. “Across our organization, our teams are working together to accelerate our transformation, grow our audiences and architect new digital models to monetize. The reduction of debt and leverage remains a core focus and management expects to further reduce first lien debt by an additional $17 million through mandatory payments by the end of May. This would result in a decline of over 70% of our first lien debt from $225 million to $67 million since our 2016 recapitalization. It is our collective hope that an end to the global pandemic is closer than further and it is Postmedia’s commitment to continue delivering thought-provoking journalism that Canadians rely upon and strong platform solutions for businesses.”

Updates from the Quarter

• Constraining Costs – In the quarter we realized a 19.7% reduction in operating costs¹, which includes the impact of initiatives implemented in the quarter that are expected to result in approximately $5 million of net annualized cost savings.
• Preserving Liquidity – Cash management, including the impact of cost savings and government assistance, has resulted in an unrestricted cash balance of $52.8 million as at February 28, 2021.
• Maximizing Revenue – Second quarter revenue was down 21.0% from the same period in the prior year with revenue trends showing modest improvement each quarter since the start of the pandemic.

Second Quarter Operating Results

Revenue for the quarter was $106.0 million as compared to $134.2 million in the same period in the prior year, representing a decrease of $28.2 million or 21.0%. The revenue decline was primarily due to decreases in print advertising revenue of $14.7 million or 29.3% and digital revenue of $6.2 million or 20.9%. Print circulation revenue decreased by $5.6 million or 11.6%.

Total operating expenses excluding depreciation, amortization, impairment and restructuring decreased $31.0 million or 24.1% for the quarter, relative to the same period in the prior year. The decrease was a result of lower compensation expense and newspaper circulation volumes as well as the implementation of various cost reduction initiatives. Included in the operating expense decrease is the impact of a compensation expense recovery of $5.7 million related to CEWS, partially offset by a decrease in compensation recovery related to journalism tax credits of $0.3 million.

Operating income before depreciation, amortization, impairment and restructuring of $8.3 million in the quarter represents an increase of $2.9 million relative to the same period in the prior year. The increase is due to a decrease in operating expenses excluding depreciation, amortization, impairment and restructuring partially offset by decreases in total revenue Included in the operating expense decreases is the impact of the compensation expense recoveries related to CEWS and journalism tax credits.

Net earnings in the quarter ended February 28, 2021 were $0.7 million, as compared to a net loss of $12.8 million in the same period in the prior year. The change was primarily the result of gains on derivative financial instruments and foreign exchange in the three months ended February 28, 2021, the increase in operating income before depreciation, amortization, impairment and restructuring as well as decreases in depreciation and amortization expenses partially offset by impairment expense of $7.0 million in the three months ended February 28, 2021, and an increase in interest and restructuring expenses.

Year-to-Date Operating Results

Revenue for the six months ended February 28, 2021 was $222.9 million as compared to $290.8 million in the same period in the prior year, a decrease of $67.9 million or 23.3%. The revenue decline was primarily due to decreases in print advertising revenue of $35.3 million or 30.9% and decreases in digital revenue of 16.9 million or 25.9%. Print circulation revenue declined $11.9 million or 12.0%.

Total operating expenses excluding depreciation, amortization, impairment, settlement gains and restructuring decreased $66.5 million or 25.2% for the six months ended February 28, 2021, relative to the same period in the prior year. The decrease was a result of lower compensation expense and newspaper circulation volumes as well as the implementation of various cost reduction initiatives. Included in the operating expense decrease is the impact of a compensation expense recovery of $12.3 million related to CEWS, partially offset by a decrease in compensation recovery related to journalism tax credits of $1.2 million.

Operating income before depreciation, amortization, impairment and restructuring of $25.5 million in the quarter represents a decrease of $1.3 million or 5.0% relative to the same period in the prior year. The decrease is due to the decrease in total revenue partially offset by decreases in operating expenses. Included in the operating expense decreases is the impact of the compensation expense recoveries related to CEWS and journalism tax credits.

Net earnings in the six months ended February 28, 2021 were $53.5 million, as compared to a net loss of $15.8 million in the same period in the prior year. The change was primarily the result of a non-cash settlement gain related to employee benefit plans of $63.1 million, gains on derivative financial instruments and foreign exchange in the six months ended February 28, 2021, decreases in depreciation, amortization and restructuring expenses partially offset by impairment expense of $20.5 million in the six months ended February 28, 2021, the decrease in operating income depreciation, amortization, impairment, settlement gains and restructuring and an increase in interest expense.

COVID-19 Update

The COVID-19 pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus including travel bans, self-imposed quarantine periods and social distancing that have caused disruption to businesses resulting in an economic slowdown. The Company is generally exempt from mandates requiring closures of non-essential businesses and therefore has been able to continue operations, however, advertising revenue declines have accelerated as a result of the COVID-19 pandemic and related government measures. On April 11, 2020, the Government of Canada passed CEWS to support employers facing financial hardship as measured by certain revenue declines as a result of the COVID-19 pandemic. CEWS currently provides a reimbursement of compensation expense to June 5, 2021, provided the applicant has met the applicable criteria. During the three and six months ended February 28, 2021, the Company recognized a recovery of compensation expense of $5.7 million and $13.3 million, respectively, and in total has recognized $52.4 million related to CEWS since the program was announced. As at February 28, 2021, the Company has a receivable related to CEWS in the amount of $4.0 million.

Debt Repayment

Subsequent to February 28, 2021, the Company gave notice to its first-lien noteholders of its intention to redeem $9.6 million of first-lien debt on April 30, 2021 with the proceeds of asset sales. In addition, as required pursuant to the semi-annual excess cash flow requirement contained in the first-lien notes indenture the excess cash flow for the six months ended February 28, 2021 was $7.3 million which is expected to be used to redeem a portion of first-lien debt by May 8, 2021. After these aggregate redemptions of approximately $17 million the Company will have approximately $67 million of first-lien debt outstanding of the original $225.0 million that was issued in October 2016.

Business Transformation Initiatives

During the three months ended February 28, 2021, the Company implemented initiatives related to compensation expense reductions, real estate rationalization, production efficiencies and other transformation programs, which are expected to result in approximately $5 million of net annualized cost savings.

The Company intends to continue to identify and undertake ongoing cost reduction initiatives in an effort to address revenue declination in the legacy print business.

Additional Information

Additional information, including financial statements and management’s discussion and analysis can be found on the Company’s website at www.postmedia.com/investors-governance/quarterly-filings or on SEDAR at www.sedar.com.

Note: All dollar amounts are expressed in Canadian dollars unless otherwise specified.

About Postmedia Network Canada Corp.

Postmedia Network Canada Corp. (TSX:PNC.A, PNC.B) is the holding company that owns Postmedia Network Inc., a Canadian newsmedia company representing more than 120 brands across multiple print, online, and mobile platforms. Award-winning journalists and innovative product development teams bring engaging content to millions of people every week whenever and wherever they want it. This exceptional content, reach and scope offers advertisers and marketers compelling solutions to effectively reach target audiences. For more information, visit www.postmedia.com.

Forward-Looking Information

This news release may include information that is “forward-looking information” under applicable Canadian securities laws. The Company has tried, where possible, to identify such information and statements by using words such as “believe,” “expect,” “intend,” “estimate,” “anticipate,” “may,” “will,” “could,” “would,” “should” and similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance. Forward-looking statements in this news release include statements with respect to the impact of the COVID-19 pandemic on the Company’s business, the implementation and results of the Company’s transformation initiatives, continued benefits of historical results into future periods, the realization of anticipated cost savings, the receipt of anticipated government assistance and the identification and undertaking of ongoing cost savings initiatives. By their nature, forward-looking information and statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These risks and uncertainties include, among others: competition from digital and other forms of media; the effect of economic conditions on advertising revenue; the ability of the Company to build out its digital media and online businesses; the failure to maintain current print and online newspaper readership and circulation levels; the realization of anticipated cost savings; possible damage to the reputation of the Company’s brands or trademarks; possible labour disruptions; possible environmental liabilities, litigation and pension plan obligations; fluctuations in foreign exchange rates and the prices of newsprint and other commodities.

In addition, we are subject to the risk and uncertainties related to the COVID-19 pandemic. The pandemic has resulted in governments worldwide enacting emergency measures to combat the spread of the virus including travel bans, self-imposed quarantine periods and social distancing that have caused disruption to businesses resulting in an economic slowdown. We are generally exempt from mandates requiring closures of non-essential businesses and therefore have been able to continue operations however, advertising revenues have declined as a result of COVID-19 pandemic and related government measures. The outbreak of contagious illness such as this can impact our operations in a number of ways including quarantined employees, travel restrictions, temporary closure of our facilities, a decrease in demand for advertising, as well as interruptions to our supply chain, including temporary closure of supplier facilities. Given the high level of uncertainty surrounding the duration of the COVID-19 pandemic it is difficult to reliably estimate its potential impact on the financial condition and results of our business. We are continuing to address the current challenges related to the COVID-19 pandemic and monitoring these challenges as they evolve so as to minimize this risk however it could have a material adverse effect on our business, financial condition, results of operations, liquidity and cash flow. For a complete list of our risk factors please refer to the section entitled “Risk Factors” contained in our annual management’s discussion and analysis for the years ended August 31, 2020 and 2019. Although the Company bases such information and statements on assumptions believed to be reasonable when made, they are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry in which the Company operates, may differ materially from any such information and statements in this press release. Given these risks and uncertainties, undue reliance should not be placed on any forward-looking information or forward-looking statements, which speak only as of the date of such information or statements. Other than as required by law, the Company does not undertake, and specifically declines, any obligation to update such information or statements or to publicly announce the results of any revisions to any such information or statements.

Postmedia Network Canada Corp.
Consolidated Statements of Operations
(UNAUDITED)

Postmedia Network Canada Corp.
Consolidated Statements of Financial Position
(UNAUDITED)

Postmedia Network Canada Corp.
Consolidated Statements of Cash Flows
(UNAUDITED)

¹ Operating expenses excluding depreciation, amortization and restructuring as adjusted for the impact of the Canada Emergency Wage Subsidy (“CEWS”).

Media Contact
Phyllise Gelfand
Vice President, Communications
(647) 273-9287
pgelfand@postmedia.com

Investor Contact
Brian Bidulka
Executive Vice President and Chief Financial Officer
(416) 383-2325
bbidulka@postmedia.com

RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Ironshore Pharmaceuticals Inc. (“Ironshore”), a wholly owned subsidiary of Highland Therapeutics Inc. and a leader in the commercialization of novel treatments for Attention-Deficit/Hyperactivity Disorder (“ADHD”), today announced the publication of an original paper in the Journal of Child and Adolescent Psychopharmacology (“JCAP”) that describes new data showing the effect of JORNAY PM® (methylphenidate HCl) extended-release capsules CII on caregiver strain as measured by the Caregiver Strain Questionnaire (“CGSQ”). The data are derived from a Phase 3 clinical trial in child and adolescent patients with ADHD. The journal article provides the first validation of the CGSQ to measure caregiver strain over a preceding three-week period. JORNAY PM was approved in August 2018 by the U.S. Food and Drug Administration (FDA) for the treatment of ADHD in patients 6 years and older.

The publication, titled Effect of Delayed-Release and Extended-Release Methylphenidate on Caregiver Strain and Validation of Psychometric Properties of the Caregiver Strain Questionnaire: Results from a Phase 3 Trial in Children with Attention-Deficit/Hyperactivity Disorder, is available online at https://home.liebertpub.com/publications/journal-of-child-and-adolescent-psychopharmacology/29 and can be accessed by clicking here.

Commenting on the publication, Dr. Bev Incledon, Chief Scientific Officer for Ironshore Pharmaceuticals & Development, Inc. added, “We are delighted to be sharing new clinical data for JORNAY PM with the medical community. Importantly, improvements were seen in CGSQ scores for caregivers of patients being treated with JORNAY PM relative to placebo, but also compared with scores at screening (58.4% of participants were treated with a prior stimulant medication, although it was unknown whether the doses of prior medications were optimized). We believe this reflects the extended duration of effect of JORNAY PM, which has been shown in clinical trials to provide symptom control in the early morning through to the evening, typically the times when family interactions occur.”

Dr. Randy Sallee, Ironshore’s Chief Medical Officer said, “A child’s ADHD, even when treated pharmacologically, has an impact on the entire family and it is caregivers that bear much of the burden associated with their child’s inability to complete routine tasks in the early morning and evenings. In the study, caregivers of children treated with three weeks of JORNAY PM versus placebo reported statistically significant reductions in CGSQ scores (p<0.001), indicating reduced strain. Discussion of caregiver strain related to ADHD can create an opportunity for providers to assess and optimize treatment outcomes that may affect the whole family.”

The clinical trial, HLD200-108, was a phase 3, three-week, randomized, double blind, multicenter, placebo-controlled, forced-dose titration trial of JORNAY PM in children aged 6–12 years with ADHD. Caregiver strain, as measured by the CGSQ was included as a secondary endpoint in the trial. A total of 161 patients were included in the intent-to-treat population.

Further, post hoc psychometric analyses showed CGSQ to be a reliable and valid measure of strain in caregivers of children with ADHD.

JORNAY PM is the first product to leverage the novel DELEXIS^® delayed-release and extended-release drug delivery technology. DELEXIS technology capitalizes upon the slow absorption rate of the colon, which has different absorption qualities relative to the stomach and upper intestine. The DELEXIS technology provides two functional film coatings: the first layer delays the initial release of drug for up to 10 hours while the second layer helps to control the rate of release of the active pharmaceutical ingredient from the time the patient awakens the next morning, throughout the day and into the evening.

JORNAY PM is the first and only stimulant medication that is dosed in the evening and has demonstrated improved ADHD symptom control in the early morning, throughout the day and during the evening time period in two pivotal Phase 3 trials.

About ADHD

ADHD is among the most common childhood psychiatric conditions with behavioral symptoms fluctuating throughout the day. It is usually first diagnosed in childhood and often lasts into adulthood. Children with ADHD may have trouble paying attention, controlling impulsive behaviors, or be overly active. Many home-based difficulties for children and adolescents with ADHD occur during the early morning routine (i.e., before the school day begins).

About JORNAY PM

Developed by Ironshore Pharmaceuticals & Development, Inc., JORNAY PM is a central nervous system (CNS) stimulant prescription medicine used for the treatment of Attention Deficit Hyperactivity Disorder (ADHD) in people six years of age and older. JORNAY PM may help increase attention and decrease impulsiveness and hyperactivity in people six years of age and older with ADHD. It is not known if JORNAY PM is safe and effective in children under six years of age.

JORNAY PM is dosed once daily in the evening and should be initiated at 8:00 p.m. Timing of administration of JORNAY PM may be adjusted between 6:30 p.m. and 9:30 p.m. to optimize the tolerability and the efficacy the next morning and throughout the day. The recommended starting dose for patients 6 years and older is 20 mg once daily in the evening. Dosage may be titrated weekly in increments of 20 mg per day up to maximum daily dose of 100 mg. The mean optimized dose required to improve symptoms from the time the patient wakes up, throughout the day and into the evening in children 6-12 years old was 67 mg in Study 1 and 68.1 mg in Study 2. The relative bioavailability of JORNAY PM (given once a day) compared to the same daily dose of a methylphenidate immediate-release oral product (given 3 times a day) in adults is approximately 74%. JORNAY PM is primarily absorbed in the colon which may contribute to the reduced bioavailability of the drug. JORNAY PM is not interchangeable on a milligram-per-milligram basis with other methylphenidate formulations.

Please see additional dosing information in the full prescribing information for JORNAY PM at http://ironshorepharma.com/labeling.pdf.

IMPORTANT SAFETY INFORMATION

WARNING: ABUSE AND DEPENDENCE

CNS stimulants, including JORNAY PM, other methylphenidate-containing products, and amphetamines, have a high potential for abuse and dependence. Assess the risk of abuse prior to prescribing and monitor for signs of abuse and dependence while on therapy.

CONTRAINDICATIONS

• Known hypersensitivity to methylphenidate or other components of JORNAY PM. Hypersensitivity reactions such as angioedema and anaphylactic reactions have been reported in patients treated with methylphenidate products.
• Concurrent treatment with a monoamine oxidase inhibitor (MAOI), or use of an MAOI within the preceding 14 days because of the risk of hypertensive crisis.

WARNINGS AND PRECAUTIONS

• Serious Cardiovascular Reactions: Sudden death, stroke, and myocardial infarction have been reported in adults treated with CNS stimulants at recommended doses. Sudden death has been reported in pediatric patients with structural cardiac abnormalities and other serious heart problems taking CNS stimulants at recommended doses for ADHD. Avoid use in patients with known structural cardiac abnormalities, cardiomyopathy, serious heart arrhythmias, coronary artery disease, and other serious cardiac problems.
• Blood Pressure and Heart Rate Increases: CNS stimulants may cause an increase in blood pressure and heart rate. Monitor all patients for hypertension and tachycardia.
• Psychiatric Adverse Reactions: CNS stimulants may exacerbate symptoms of behavior disturbance and thought disorder in patients with a pre-existing psychiatric disorder and may induce a manic or mixed episode in patients with bipolar disorder. In patients with no prior history of psychotic illness or mania, CNS stimulants, at recommended doses, may cause psychotic or manic symptoms.
• Priapism: Prolonged and painful erections, sometimes requiring intervention, have been reported with methylphenidate products in both pediatric and adult patients. Priapism has also appeared during a period of drug withdrawal. Immediate medical attention should be sought if signs or symptoms of prolonged penile erections or priapism are observed.
• Peripheral Vasculopathy, including Raynaud’s Phenomenon: CNS stimulants used to treat ADHD are associated with peripheral vasculopathy, including Raynaud’s phenomenon. Careful observation for digital changes is necessary during treatment with ADHD stimulants.
• Long-Term Suppression of Growth: CNS stimulants have been associated with weight loss and slowing of growth rate in pediatric patients. Monitor height and weight at appropriate intervals in pediatric patients.

ADVERSE REACTIONS

• Based on accumulated data from other methylphenidate products, the most common (>5% and twice the rate of placebo) adverse reactions for pediatric patients and adults are: appetite decreased, insomnia, nausea, vomiting, dyspepsia, abdominal pain, weight decreased, anxiety, dizziness, irritability, affect lability, tachycardia, and blood pressure increased.
• Additional adverse reactions (≥5% and twice the rate of placebo) in pediatric patients 6 to 12 years treated with JORNAY PM: headache, psychomotor hyperactivity, and mood swings.

PREGNANCY AND LACTATION

• CNS stimulant medications, such as JORNAY PM, can cause vasoconstriction and thereby decrease placental perfusion.
• The developmental and health benefits of breastfeeding should be considered along with the mother's clinical need for JORNAY PM and any potential adverse effects on the breastfed infant from JORNAY PM or from the underlying maternal condition. Monitor breastfeeding infants for adverse reactions, such as agitation, insomnia, anorexia, and reduced weight gain.

Please visit http://ironshorepharma.com/labeling.pdf for additional important safety information and the Full Prescribing Information, including Boxed Warning, for JORNAY PM.

About Ironshore Pharmaceuticals Inc.

Ironshore Pharmaceuticals Inc. commercializes innovative, patient-centric treatment options to improve the lives of patients and caregivers. Based in North Carolina, Ironshore Pharmaceuticals Inc. is responsible for the sales, marketing and distribution of pharmaceutical products within the US. Ironshore Pharmaceuticals Inc. is a wholly owned subsidiary of Highland Therapeutics Inc. based in Toronto, Canada.

About Ironshore Pharmaceuticals & Development, Inc.

Ironshore Pharmaceuticals & Development, Inc., based in Grand Cayman, develops novel therapeutics by leveraging its proprietary drug-delivery technology, DELEXIS®. Ironshore Pharmaceuticals & Development, Inc. is a wholly owned subsidiary of Highland Therapeutics Inc. based in Toronto, Canada.

Forward-Looking Statements

This press release contains forward-looking information, which reflects Ironshore’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Ironshore’s control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. These forward-looking statements are made as of the date of this press release and, except as expressly required by applicable law, Ironshore assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Nelson Isabel
(647) 260-7875

Produced by Atomic Cartoons, Thunderbird Entertainment’s Kids and Family Division, the Interactive Special Starts Streaming April 6, 2021 on Netflix

Graphic Novel from Max Brallier and Penguin Young Readers Debuts April 6, 2021

VANCOUVER, British Columbia--(BUSINESS WIRE)--Atomic Cartoons (Atomic), the Kids and Family Division of Thunderbird Entertainment Group (TSXV:TBRD, OTC:THBRF), and Penguin Young Readers, along with Max Brallier, are proud to announce two new milestones in The Last Kids on Earth franchise. An interactive special episode of the Daytime Emmy Award-winning animated series will begin streaming today, April 6, 2021 on Netflix. Also available on store shelves today is The Last Kids on Earth: Thrilling Tales from the Tree House, the first-ever graphic novel in the bestselling series.

In the interactive special, titled “Happy Apocalypse to You,” when Jack, Dirk and Quint try to throw June a birthday party, it turns into an action-packed thrill ride. Viewers will use their remote controls to decide what the gang will do as they encounter angry wretches, ferocious maulers, fearsome octogrutes, zombies and more, on the way to the birthday extravaganza. This is a chance for fans of the series to help make June’s birthday a blast, but not get eaten in the process. To produce the interactive episode, Atomic leveraged interactive Netflix technology that requires viewers to make choices using their remote control to advance the story. To view the interactive special trailer, click here.

“With audiences calling the shots, we can’t wait to see what kind of adventures – and calamities – they’ll cook up for Jack, June, Quint and Dirk in this thrilling interactive special episode of The Last Kids on Earth,” said Matthew Berkowitz, Chief Creative Officer of Thunderbird and Atomic Cartoons, and Series Executive Producer. “We have been so honored by the response our series has received so far, and we’re excited to see how fans of The Last Kids on Earth enjoy having the power – and responsibility – of deciding the fates of their favorite characters on screen!”

In its latest book installment, Thrilling Tales from the Tree House, fans get their first chance to experience The Last Kids on Earth in the form of a graphic novel. The kids and their monster buddies are hanging out in their tree house, when Jack launches into an epic, totally-heroic, super-rad story of one of his many post-apocalyptic adventures. Of course, after he’s finished, everyone’s eager to one-up his tale with a story of their own. Soon, Quint, Dirk, June and Skaelka, and even Globlet, regale the group with sometimes outrageous, often hilarious details of their action-packed escapades during the Monster-Zombie Apocalypse.

This graphic novel includes six brand new The Last Kids on Earth short stories by Max Brallier, featuring full-color art by Anoosha Syed, Xavier Bonet, Lorena Alvarez, Jay Cooper, Christopher Mitten and The Last Kids on Earth series illustrator Douglas Holgate. Their stories are capped off by a special double-length feature, which will finally reveal the mysterious whereabouts of two villainous villains to prep readers for the seventh book in the series, coming Fall 2021.

"The behind-the-scenes journey that brought The Last Kids on Earth to life on screen has been incredible. And now, together with Atomic Cartoons, we’re taking another exciting step forward, giving viewers the power to control the destiny of their favourite characters,” said Max Brallier, author of the book series and creator of the animated series. “And being able to time the streaming premiere of our new interactive episode with the launch of the next book in the series, means we’re able to offer fans a double whammy of excitement, laughter and – of course – zombies and monsters.”

The Last Kids on Earth is a New York Times and USA Today bestselling book series. The IP was acquired by Thunderbird Entertainment in 2017. The animated Netflix series debuted in September 2019 with a special 66-minute episode that went on to win a 2020 Emmy Award in the category of “Outstanding Special Class Program.” Season Two began streaming in April 2020, and Season Three launched in October 2020. The series features a star-studded voice cast, including Mark Hamill, Rosario Dawson, Catherine O’Hara, Keith David, Bruce Campbell, Garland Whitt, Montse Hernandez and Charles Demers, in addition to Nick Wolfhard voicing the lead character Jack Sullivan.

The franchise also has launched a toy and merchandise line based on the series with Jakks Pacific, and a T-Shirt line with Hot Topic. A video game based on the series is currently in production with Outright Games, set to be available in 2021.

ABOUT THUNDERBIRD ENTERTAINMENT GROUP

Thunderbird Entertainment Group is a global award-winning, full-service multiplatform production, distribution and rights management company, headquartered in Vancouver, with additional offices in Los Angeles, Toronto, and Ottawa. Thunderbird creates award-winning scripted, unscripted, and animated programming for the world’s leading digital platforms, as well as Canadian and international broadcasters. Thunderbird’s vision is to produce high quality, socially responsible content that makes the world a better place. The Company develops, produces, and distributes animated, factual, and scripted content through its various divisions, including Thunderbird Kids and Family (Atomic Cartoons), Thunderbird Factual and Scripted (Great Pacific Media), and a division dedicated to global distribution and consumer products. Thunderbird is on Facebook, Twitter, and Instagram at @tbirdent. For more information, visit: www.thunderbird.tv.

ABOUT ATOMIC CARTOONS

Atomic Cartoons, the Kids and Family Division of Thunderbird Entertainment Group (TSXV:TBRD, OTC:THBRF), is an artist-driven, multifaceted studio that includes some of North America's most creative animators, directors, producers, and writers. With studios in Vancouver, Ottawa and Los Angeles, Atomic produces content for partners around the globe, including the Emmy Award-winning series Beat Bugs (2017, 2019) and The Last Kids on Earth (2020), and the Peabody Award and Television Critics Association Award-winning Molly of Denali (2020), which also won a Kidscreen Award for Best Inclusivity (2021). Thunderbird and Atomic also have a division dedicated global distribution and consumer products. Atomic is on Facebook, Twitter and Instagram at @AtomicCartoons. For more information, visit www.atomiccartoons.com.

ABOUT PENGUIN RANDOM HOUSE

Penguin Random House, the world's largest trade book publisher, is dedicated to its mission of nourishing a universal passion for reading by connecting authors and their writing with readers everywhere. The company, which employs more than 10,000 people globally, was formed on July 1, 2013, by Bertelsmann and Pearson. As of April 1, 2020, Bertelsmann is full owner of the company. With more than 300 imprints and brands on six continents, Penguin Random House comprises adult and children's fiction and nonfiction print and digital English- German- and Spanish-language trade book publishing businesses in more than 20 countries worldwide. With over 15,000 new titles, and more than 600 million print, audio and eBooks sold annually, Penguin Random House's publishing lists include more than 80 Nobel Prize laureates and hundreds of the world's most widely read authors.

Thunderbird Entertainment and Atomic Cartoons Media Relations:
Julia Smith, Finch Media
+1 604.803.0897
julia@finchmedia.net

Thunderbird Investor Relations:
Glen Akselrod, Bristol Capital
+1 905.326.1888 ext 1
glen@bristolir.com

Penguin Young Readers Media Relations:
Jennifer Dee, Publicity Manager
+1 212.414.3536
jdee@penguinrandomhouse.com

New findings show the number of videos shared by businesses increased by 135% year-over-year fueled by user-generated videos within sales teams, High Tech firms, Financial Services and Professional Services

KITCHENER, Ontario--(BUSINESS WIRE)--Vidyard, the leading video platform for businesses, has released its 2021 Video in Business Benchmark Report revealing the latest trends and benchmarks in video content creation, user-generated video, viewer engagement and video performance in business. By analyzing primary data from more than 750,000 videos published by more than 1,500 businesses during 2020, the new report shares insights on how video is being used across different industries, company sizes, and business roles, and how the use and effectiveness of video compares to previous years’ reports.

Findings from the new report show that the move to a digital-first business world accelerated the use of video by marketing, sales and customer experience teams, particularly in industries where in-person customer interactions were previously the norm. The number of videos published overall more than doubled in 2020, up 135% from the previous year, with a significant surge starting in April when businesses began adapting to remote sales and digital-first marketing strategies. Of note, Financial Services organizations increased their video output by 129% while those in Education increased by more than 200% compared to the previous year.

“In today’s remote business world, it’s harder than ever to connect with customers and colleagues in ways that are authentic, personal and truly impactful,” said Tyler Lessard, Chief Video Strategist and VP Marketing at Vidyard. “The exponential growth in the adoption of both produced video content and user generated videos reflects its growing importance as a way to educate audiences, share key messages and build relationships in a digital world.”

User-Generated Videos Soar in Popularity in Sales and Financial Services

While the number of professionally produced videos by businesses increased year-over-year despite production challenges imposed by the pandemic, the most significant area of growth came from the rising adoption of user-generated video (UGV). Most commonly created by client-facing sales and customer service professionals using webcams or screen recordings, UGVs represented 60% of all videos shared by businesses studied in the report. While users in High Tech markets created the most UGVs for the second straight year, customer-facing teams in Financial Services, Professional Services, Entertainment and Education were close followers, representing the greatest year-over-year gains in this area.

"In a world where you have no choice but to communicate digitally, personalization is key to breaking through the clutter. Not just superficial personalization like adding a name to an email, but creating one-of-a-kind, meaningful communication for every customer that is truly personal and human," said Eric Hansen, SVP of Brand and Digital Marketing at Advisor Group, one of the largest networks of independent wealth management firms in the United States.

"Instead of our typical lengthy text-based emails, our sales teams began using Vidyard to send personalized 30-second videos to their clients and prospects,” added Hansen. “As soon as we started using these short videos, our engagement and response rates increased by more than 400%, proving how impactful user generated videos can be."

Key Findings from the 2021 Report

Some of the key findings and year-over-year trends from the 2021 Video-in-Business Benchmark Report include:

• Total number of videos published increased by 135% year-over-year
• 40% of all videos published were produced/uploaded while 60% were user-generated
• Businesses in High Tech were the most prolific video creators for the fourth consecutive year, averaging 583 new videos per business over the 12-month period
• The greatest year-over-year acceleration in the use of video came from Financial Services (129% increase) and Education (209% increase)
• Top industries for the creation of user-generated content were High Tech, Financial Services, Professional Services, Entertainment and Education
• 75% of videos created by companies with less than 200 employees were user-generated, while only 45% of the videos created within organizations with greater than 600 employees were user-generated
• The average length of all videos analyzed was roughly 6 minutes, representing a 50% increase in average length from the previous year

Long-Form Video Returns to the Spotlight

The average length of all videos analyzed increased by roughly 50% year-over-year, from 4 minutes in 2019 to 6 minutes in 2020. This represents the first year since the launch of this report in 2016 that the average video length increased compared to the previous year. While 60.3% of all videos published in 2020 were less than 2 minutes in length (compared to 74% in 2019), 10.5% were more than 20 minutes, a significant jump from just 6% the previous year. This increase in the amount of long-form video content may be the result of a growing number of on-demand webinars and presentation recordings in response to the shift to remote work and online events.

For more insights on video trends and to dive deeper into the data, please download the complete 2021 Video in Business Benchmark Report or refer to the additional resources below.

Additional Resources:

• Read the key findings blog post for more insights and interpretations
• See the Video in Sales Benchmarks Infographic
• See the Video Marketing Benchmarks Infographic

About Vidyard

Vidyard helps businesses and professionals connect with their audiences in a whole new way through engaging, personalized, and measurable video experiences. Through its global video hosting and analytics platform, Vidyard empowers businesses like LinkedIn, Zycus, League, Stanley Black & Decker, and others to transform their approach to marketing, sales, and corporate communications. Vidyard helps any business professional create and share custom videos to deliver their message in a more personal and impactful way through its free and pro tools. Thousands of businesses and millions of people around the world rely on Vidyard for their video needs. Sign up for Vidyard for free at https://www.vidyard.com/free.

Media Contact:
Joshua Swarz, Big Valley Marketing for Vidyard
press@vidyard.com

VANCOUVER, British Columbia--(BUSINESS WIRE)--#BlueFire--Graffiti Games Ltd. (the “Corporation” or "Graffiti Games"), a leading video game publisher, is pleased to provide a Corporate Update and announces a non-brokered private placement.

Corporate Update

Blue Fire Video Game Release
Graffiti Games, a leading video game publisher, is pleased to provide an update on the Blue Fire video game, which was released in partnership with Argentina-based Robi Studios. The game was released to chart-topping results and much fanfare, propelling the 3D action-adventure platformer to No. 6 in “Best Sellers” in the Nintendo eShop and the No. 1 spot in Steam’s “New and Trending” section.

Subsequent to its release in early February 2021, Blue Fire has earned additional accolades, including:

• No. 6 in “Best Sellers” in the Nintendo eShop
• No. 1 in Steam’s “New Releases”
• Top-4 title in the eShop’s “Featured” section
• No. 1 Steam community recommended game
• Featured release on Nintendo.com
• More than 600,000+ views of the game’s launch trailers
• More than 730 million launch week media and social impressions

Blue Fire is available on the Nintendo Switch™ as a console exclusive and on PC for $19.99 USD. The game will launch on additional consoles and as a physical retail edition in the coming months.

“Robi Studios worked tirelessly to create a high-quality game for the community to enjoy, which is reflected in Blue Fire’s chart-topping success and sales, both of which allowed us to recoup the development costs within the first 24 hours,” said Alex Josef, CEO of Graffiti Games. “It’s great to see our model of backing and partnering with emerging talent in the game development space continue to gain momentum and we look forward to continued success for Blue Fire and our other titles as we move forward.”

In Blue Fire, players embark on an extraordinary adventure through the desolate kingdom of Penumbra to discover the hidden secrets of this long-forgotten land. Explore mystical temples, where players will need to master the art of movement to survive increasingly difficult 3D platforming challenges. Along the adventure, players will slash their way through diverse adversaries, encounter survivors, collect valuable items, take on strange quests and more.

For more information regarding Blue Fire please visit Graffiti’s Twitter page, Robi’s Twitter page or the Blue Fire Discord.

2020 Highlights
Graffiti Games had a strong 2020 and achieved several, major company objectives, including:

• 10 titles released to date (23 SKUs)
• 10 percent year-over-year growth in revenue
• More than 200,000 game units sold across all platforms
• More than 30 global distribution partners, including Steam, Nintendo, Sony, Microsoft, Google Stadia, and Amazon

2021 Highlights and Beyond
Graffiti has achieved several, major objectives already in 2021, including:

• Secured first physical retail distribution deal that will see Blue Fire available in major brick and mortar retailers, including GameStop and Best Buy
• Secured first Asian distribution deal for territories outside of Japan
• Secured two new titles for launch in 2022

Non-Brokered Private Placement

The Corporation announces that it intends to complete a non-brokered private placement of up to 5,000,000 common shares of the Corporation at a price of $0.30 per share for aggregate gross proceeds of up to $1,500,000.

The proceeds of the private placement will be used for general operating purposes and working capital.

Media Assets
Trailer for Blue Fire: https://www.youtube.com/watch?v=R0wPny3_8nQ

About Graffiti Games
Graffiti Games is a North American video game publisher comprised of industry OGs with a powerful, global distribution network encompassing both digital and physical retail partners across the world to maximize sales potential. As of March 2021, Graffiti Games has released 10 titles across 23 SKUs. To find out more about Graffiti and our portfolio please visit www.graffitigames.com.

About Robi Studios
Robi Studios is a game development company based in Cordoba, Argentina. We're a young and very passionate team dedicated to game development on PC and console. To find out more about Robi Studios please visit https://www.robistudios.com/.

Cautionary Statements

Statements in this press release may contain forward-looking. The words "will," "anticipate," believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Corporation. Readers are cautioned that assumption used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Corporation. The Corporation does not have any obligation to update or revise any forward-looking statements except as expressly required by applicable securities laws.

Press: press@graffitigames.com

Investor Relations: Ben Leung
investors@graffitigames.com

VANCOUVER, British Columbia--(BUSINESS WIRE)--#ILS--Lucidea, parent company to a full portfolio of market-leading knowledge management, collections management, and library automation solutions will soon release PrestoWorks and PrestoWorks Publisher—their next generation upgrades for Inmagic DB/TextWorks users, and also two fantastic standalone choices for knowledge management and Web publishing.

DB/TextWorks clients should know that PrestoWorks, based on the award-winning Inmagic Presto platform, delivers the capabilities of the Windows-based DB/TextWorks product exclusively as a Web-based, Software-as-a-Service (SaaS) application. With PrestoWorks, DB/TextWorks clients will now be able to leverage the latest technology, and enjoy a new user interface, purpose-built workflows, enhanced security, robust functionality and exciting additional capabilities.

PrestoWorks and PrestoWorks Publisher are robust KM and Web-publishing solutions that all information professionals seeking to upgrade their knowledge management capabilities—and dramatically expand user engagement and their Web presence—need to see.

PrestoWorks features that appeal to everyone include:

• 24/7/365 access from anywhere, via any device, via the Web
• Modern Web-based user interface with support for customization
• Advanced search and discovery—find critical knowledge assets undiscoverable by traditional methods, without searching
• Reporting and analytics—enable evidence-based decisions and strategies

PrestoWorks benefits:

• Eliminate the effort and expense of local updating and maintenance; always run the latest version
• Easily configurable without relying on/waiting for overstretched IT resources
• Enhanced data security, reliable permissions management
• Ability to scale up as and when functional needs and requirements grow

PrestoWorks and PrestoWorks Publisher will be available in early Q3. If you are interested in learning more, or have any other questions about Lucidea’s products, contact them at 604-278-6717 for more information.

About Lucidea:

Lucidea is the market-leading developer of a full portfolio of world class KM and library automation solutions including Inmagic Presto, DB/TextWorks, Sydney Enterprise, and GeniePlus, along with comprehensive museum and archival collections management systems Argus, CuadraSTAR SKCA, Eloquent Archives, and ArchivEra.

Mark Maslowski
Marketing Manager
604-278-6717
mmaslowski@lucidea.com

VANCOUVER, British Columbia--(BUSINESS WIRE)--#CMS--Lucidea, developer of ArchivEra and Argus and leader in innovative heritage institution collections management software, will participate in the DAM Asia-Pacific conference on March 24, 2021.

Lucidea invites you to visit their collections management specialists in their virtual exhibit booth. Learn about capabilities that support digital visitor engagement and expanded curation to delight and educate your audience, as well as innovative options that elevate your strategy of going beyond traditional collections management to showcase your collections online.

See the latest updates to Argus and ArchivEra, chat about your organization’s CMS needs and strategy, download free eBooks from museum and archives experts Rachael Cristine Woody and Margot Note, check out Lucidea’s “Renew & Rebuild” promotion with significant benefits for new and existing clients, and enter to win an iPad.

For further information about ArchivEra and Argus, visit https://lucidea.com, phone 604 278 6717, or email sales@lucidea.com.

Mark Maslowski
Marketing Manager
604-278-6717
mmaslowski@lucidea.com