NuStar Logistics, L.P., a wholly owned operating subsidiary of NuStar Energy L.P. (NYSE: NS) ("NuStar Energy”), announced today that it plans to conduct an offering of senior notes pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission ("SEC”). The notes will be fully and unconditionally guaranteed by NuStar Energy, as parent guarantor, and NuStar Pipeline Operating Partnership L.P., a wholly owned operating subsidiary of NuStar Energy, as affiliate guarantor. The net proceeds from the offering are expected to be used for the repayment of indebtedness, including (1) all amounts outstanding under NuStar Logistics, L.P.’s term loan agreement and the related repayment premium and (2) a portion of borrowings outstanding under NuStar Logistics, L.P.’s revolving credit agreement. Amounts repaid under NuStar Logistics, L.P.’s revolving credit agreement may be reborrowed and used for the payment of $300 million aggregate principal amount of NuStar Logistics, L.P.’s 6.75% senior notes due 2021 at their maturity and for general partnership purposes.
Citigroup Global Markets Inc., BofA Securities, Inc., J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, Barclays Capital Inc., BBVA Securities Inc., BMO Capital Markets Corp., Mizuho Securities USA LLC, MUFG Securities Americas Inc., PNC Capital Markets LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., TD Securities (USA) LLC, Truist Securities, Inc. and U.S. Bancorp Investments, Inc. are acting as book-running managers for the offering. Comerica Securities, Inc. is acting as co-manager for the offering. A copy of the prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 831-9146. You may also obtain these documents for free when they are available by visiting the SEC’s website at www.sec.gov.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering may be made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
NuStar Energy, a publicly traded master limited partnership based in San Antonio, is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar Energy currently has approximately 10,000 miles of pipeline and 75 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids. NuStar Energy’s combined system has approximately 75 million barrels of storage capacity, and NuStar Energy has operations in the United States, Canada and Mexico.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements regarding future events, including the timing, and expected use of proceeds from the offering. All forward-looking statements are based on NuStar Energy’s beliefs as well as assumptions made by and information currently available to NuStar Energy. These statements reflect NuStar Energy’s current views with respect to future events and are subject to various risks, uncertainties and assumptions. These risks, uncertainties and assumptions are discussed in NuStar Energy’s 2019 annual report on Form 10-K and subsequent filings with the SEC. NuStar Energy undertakes no obligation to update or revise any forward-looking statement except as may be required by applicable law.
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A Ramsey County District Court judge today found that the Minnesota Pollution Control Agency (MPCA) did not engage in any procedural irregularities in connection with the processing of the National Pollutant Discharge Elimination System (NPDES) permit for the NorthMet copper-nickel-precious metals project, according to Poly Met Mining, Inc., a wholly owned subsidiary of PolyMet Mining Corp. (together "PolyMet” or the "company”) TSX: POM; NYSE American: PLM.
In his decision, Judge John H. Guthmann rejected the allegations that MPCA engaged in a systematic effort to keep evidence out of the administrative record. Those allegations had been made by the relators Fond du Lac Band of Lake Superior Chippewa, WaterLegacy, Minnesota Center for Environmental Advocacy, Center for Biological Diversity and Friends of the Boundary Waters Wilderness. Judge Guthmann made his findings after presiding over a seven-day hearing in St. Paul in January and extensive briefing from the parties.
Judge Guthmann found no evidence that the MPCA attempted to suppress EPA comments. Indeed, the court observed that the process for PolyMet’s permit involved "significantly more interaction between the EPA and the MPCA than with the usual NPDES permit.” The court determined that "[a]t no time did the MPCA try to discourage or prevent the EPA from submitting written comments on either the pre-proposed permit or the final permit.” The court found that MPCA’s effort to reach an agreement with EPA to delay making written comments on a draft NorthMet NPDES permit until sometime after the public notice period did not constitute a procedural irregularity. The court concluded that the MPCA exceeded the requirements of the Memorandum of Agreement between EPA and MPCA.
The district court’s conclusion that no procedural irregularities occurred in the processing of PolyMet’s permit will be incorporated into the broader challenge to that permit currently pending before the court of appeals. In that case, environmental groups and the Fond du Lac Band have challenged the MPCA’s decision to issue the permit and its denial of a contested-case hearing. The court of appeals will decide the schedule for briefing and oral argument.
"We are pleased with the district court’s ruling and look forward to defending the challenge to the water permit currently pending in the court of appeals,” said Jon Cherry, chairman, president and CEO. "We remain confident the water quality permit meets all applicable standards and will ultimately be upheld by the courts.”
The district court decision comes on the heels of the Minnesota Supreme Court this spring granting the company’s and regulators’ petitions to review court of appeals’ rulings on its Permit to Mine, dam safety and air quality permits. The Minnesota Supreme Court recently scheduled oral argument in the Permit to Mine appeal for October 13, 2020.
PolyMet is a mine development company that owns 100% of the NorthMet Project, the first large-scale project to be permitted within the Duluth Complex in northeastern Minnesota, one of the world’s major, undeveloped mining regions. NorthMet has significant proven and probable reserves of copper, nickel and palladium – metals vital to global carbon reduction efforts – in addition to marketable reserves of cobalt, platinum and gold. When operational, NorthMet will become one of the leading producers of nickel, palladium and cobalt in the U.S., providing a much needed, responsibly mined source of these critical and essential metals.
Located in the Mesabi Iron Range, the project will provide economic diversity while leveraging the region’s established supplier network and skilled workforce, and generate a level of activity that will have a significant effect in the local economy. For more information: www.polymetmining.com.
This news release contains certain forward-looking statements concerning anticipated developments in PolyMet’s operations in the future. Forward-looking statements are frequently, but not always, identified by words such as "expects,” "anticipates,” "believes,” "intends,” "estimates,” "potential,” "possible,” "projects,” "plans,” and similar expressions, or statements that events, conditions or results "will,” "may,” "could,” or "should” occur or be achieved or their negatives or other comparable words. These forward-looking statements may include statements regarding the ability to receive environmental and operating permits, job creation, and the effect on the local economy, or other statements that are not a statement of fact. Forward-looking statements address future events and conditions and therefore involve inherent known and unknown risks and uncertainties. Actual results may differ materially from those in the forward-looking statements due to risks facing PolyMet or due to actual facts differing from the assumptions underlying its predictions.
PolyMet’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and PolyMet does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations and opinions should change.
Specific reference is made to risk factors and other considerations underlying forward-looking statements discussed in PolyMet’s most recent Annual Report on Form 40-F for the fiscal year ended December 31, 2019, and in our other filings with Canadian securities authorities and the U.S. Securities and Exchange Commission.
The Annual Report on Form 40-F also contains the company’s mineral resource and other data as required under National Instrument 43-101.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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Use of micro ScoutCam 8.0 HD marks the customized visual solutions leader’s second in-flight achievement with the U.S. space agency
OMER, Israel, Oct. 23, 2020 (GLOBE NEWSWIRE) -- Medigus Ltd. (Nasdaq:MDGS) (TASE:MDGS), a technology company engaged in advanced medical solutions and innovative internet technologies, today announced it was informed by ScoutCam Inc. (OTCQB: SCTC) Medigus’ subsidiary (50.1%) and a leading developer and manufacturer of customized visual solutions and supplementary technologies, about the success of its micro ScoutCam 8.0 HD in NASA’s third Robotic Refueling Mission (RRM3), which was officially used in-orbit on October 19th-22st, 2020.
The micro camera serves as the borescope camera on NASA’s Visual Inspection Poseable Invertebrate Robot 2 (VIPIR2), a robotic, multi-capability inspection tool, which was launched to the International Space Station on December 5, 2018. Custom-developed for NASA between 2015 and 2016, micro ScoutCam 8.0 HD features one module consisting of HD camera and illumination.
NASA’s RRM3 builds on the first two phases of International Space Station technology demonstrations that tested tools, technologies, and techniques to refuel and repair satellites in orbit. The second phase of the Robotic Refueling Mission utilized micro ScoutCam 1.2, the first generation of the company’s minuscule video camera.
“We are thrilled that micro ScoutCam 8.0 HD was a success in NASA’s RRM3 mission," said Yaron Silberman, Chief Executive Officer of ScoutCam. “We strive to provide our customers with cutting-edge, custom technologies, and are pleased with our second success with NASA, as tools like micro ScoutCam 8.0 could be used to aid in the replenishment of vital supplies in space. We are especially proud that the continued collaboration is the result of an official global tender bid with the United States Government, where ScoutCam’s technology was selected over that of other companies."
“During the test phase, micro ScoutCam 8.0 HD outperformed its already successful first-generation predecessor,” said Professor Benad Goldwasser, ScoutCam’s Chairman of the Board. “The improvement showcased ScoutCam’s ability to evolve with our changing technologies and provide our customers with the solution they need to further their goals. We are extremely pleased with the outcome and the partnership overall.”
In addition to its miniature size, the versatile micro ScoutCam 8.0 HD camera features state of the art customizable optics and noteworthy image quality. The waterproof device is also able to adapt in a variety of extreme temperatures, and withstand various vibrations, radiation and vacuums.
Medigus is traded on the Nasdaq Capital Market and the TASE (Tel Aviv Stock Exchange). To learn more about the company’s advanced technology, please visit www.medigus.com.
Cautionary Note Regarding Forward Looking Statements
This press release may contain statements that are “Forward-Looking Statements,” which are based upon the current estimates, assumptions and expectations of the company’s management and its knowledge of the relevant market. The company has tried, where possible, to identify such information and statements by using words such as “anticipate,” “believe,” “envision,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “will,” “would,” “could,” “should,” “continue,” “contemplate” and other similar expressions and derivations thereof in connection with any discussion of future events, trends or prospects or future operating or financial performance, although not all forward-looking statements contain these identifying words. For example, the company is using forward-looking statements when it discusses the use of tools like micro ScoutCam 8.0 to aid in replenishing vital supplies in space, and ScoutCam’s ability to evolve with its changing technologies and provide its customers with the solution they need to further their goals. These forward-looking statements represent company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved, due to inter alia the spread of COVID-19 as well as the restriction deriving therefrom. By their nature, Forward-Looking Statements involve known and unknown risks, uncertainties and other factors which may cause future results of the company’s activity to differ significantly from the content and implications of such statements. Other risk factors affecting the company are discussed in detail in the company’s filings with the Securities and Exchange Commission. Forward-Looking Statements are pertinent only as of the date on which they are made, and the company undertakes no obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future developments or otherwise. Neither the company nor its shareholders, officers and employees, shall be liable for any action and the results of any action taken by any person based on the information contained herein, including without limitation the purchase or sale of company securities. Nothing in this press release should be deemed to be medical or other advice of any kind.