COLUMBUS, Ohio, March 31, 2021 (GLOBE NEWSWIRE) -- Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) and certain of its direct and indirect wholly owned subsidiaries (collectively, the "Company") today announced that, in connection with its creditor protection proceedings under the Companies' Creditors Arrangement Act and previously announced sale and investment solicitation process, the Company completed the sale transaction (the “Transaction”) contemplated by the second amended and restated acquisition agreement (the “Acquisition Agreement”) dated as of December 17, 2020 among the Company, All Js Greenspace LLC and Capital Transfer Agency in its capacity as the debentureholder trustee of the Company’s (A) US$45,500,000 aggregate principal amount of 15.00% secured convertible debentures that matured May 17, 2020 and (B) US$23,717,000 aggregate principal amount of 5.00% secured convertible debentures maturing in 2024. The Transaction was structured as a credit bid. The Company no longer has any operating assets or active business. Ernst & Young Inc. (“E&Y”), the Court-appointed monitor of the Company will assist with the wind-down of the Company’s remaining affairs. A copy of the Acquisition Agreement is available on the website maintained by E&Y at www.ey.com/ca/ggbi. The Company does not expect to issue any further press releases. For investor relations inquiries, please contact:Kent KiffnerGeneral CounselGreen Growth Brands Inc.email@example.com
Portland General Electric reported better-than-expected fourth-quarter earnings. Additionally, the utility company's 2021 earnings outlook came in ahead of analysts’ estimates. Portland GE’s (POR) 4Q earnings of $0.57 per share dropped 16.2% year-over-year but beat the consensus estimates of $0.41 per share. The company's 2020 adjusted earnings rose 15.1% year-over-year to $2.75 per share and topped the Street’s estimates of $1.70 per share. Revenues of $2.15 billion exceeded the consensus estimates by $30 million in 2020 and grew 1% year-over-year, on the back of a recovery in energy demand. The company’s CEO Maria Pope said, “Improved technology helped reduce costs, as our team learned to overcome the challenges brought on by the pandemic.” Portland GE initiated 2021 guidance with earnings expected in the range of $2.55-$2.70 per share, which at the midpoint came in higher than analysts’ projections of $2.60 per share. The company maintained its long-term earnings growth target of 4%-6%. (See Portland GE stock analysis on TipRanks). Earlier on Jan. 12, KeyBanc analyst Sophie Karp upgraded Portland GE to Buy from Hold. In a note to investors, the analyst said that she believes that the stock is heavily discounted at current levels. Karp maintained a price target of $49 (17% upside potential) for the stock. Shares have dropped about 30.1% over the past year. Meanwhile, TipRanks’ Hedge Fund Trading Activity tool shows that confidence in Portland GE is currently Very Positive as 4 hedge funds increased their cumulative holdings in POR by 665.5K shares in the last quarter. Related News:DTE Energy’s 4Q Earnings Outperform As Natural Gas Demand Picks UpFrontline 4Q Sales Sink 48% On Weak Oil Tanker DemandApplied Materials Posts Blowout Quarter; Shares Gain 5% More recent articles from Smarter Analyst: Kaleyra To Snap Up mGage For $215M; Street Sees 54% Upside Stifel Financial Buys North Atlantic Capital’s Future Venture Investment Business AG Mortgage Spikes 18% After 4Q Sales Crush Estimates Essent Group Misses 4Q Earnings Estimates; Street Stays Bullish
NEW YORK, NY / ACCESSWIRE / February 19, 2021 / Portland General Electric Co. (NYSE:POR) will be discussing their earnings results in their 2020 Fourth Quarter Earnings call to be held on February 19, 2021 at 11:00 AM Eastern Time.