Family Dollar Stores (FDO) Reports Compliance With FTC'S Second Requests (DLTR) Oct 21, 2014 05:26PM

Family Dollar Stores, Inc. (NYSE: FDO) announced today that it has certified substantial compliance with the Federal Trade Commission’s (“FTC’s”) Request for Additional Information and Documentary Materials (“Second Request”), dated September 8, 2014, regarding the proposed acquisition (“Proposed Merger”) of Family Dollar by Dollar Tree, Inc. (“Dollar Tree”) (NASDAQ: DLTR). Pursuant to a timing agreement governing the schedule for the remainder of the FTC staff’s investigation, Family Dollar understands that Dollar Tree expects to certify substantial compliance with the FTC by November 7, 2014. The 30-day HSR waiting period will expire 30 days after both parties certify substantial compliance, unless terminated earlier by the FTC or extended by an agreement among the parties and the FTC.

Family Dollar has also announced that it has certified substantial compliance with the October 10, 2014 Second Request issued by the FTC in connection with Dollar General Corporation’s (“Dollar General’s”) (NYSE: DG) unsolicited conditional tender offer to acquire all of the outstanding common stock of Family Dollar. Family Dollar has received no information from Dollar General about when it intends to comply with its own Second Request, nor whether Dollar General intends to enter into a timing agreement with the FTC. The 30-day HSR waiting period associated with Dollar General’s unsolicited conditional offer will expire 30 days after both parties certify substantial compliance, unless terminated earlier by the FTC or extended by an agreement among the parties and the FTC. Family Dollar continues to believe, based on its discussions with the FTC staff, that the FTC review of the Dollar General tender offer will continue well into 2015.

Family Dollar is committed to cooperating with the FTC’s investigations of both transactions, and providing all of the necessary information from Family Dollar for the FTC to advance its review of both potential transactions as promptly as practicable.


Himax Technologies (HIMX) Said Google (GOOG) Decided Not to Exercise Option for Additional Investment Oct 21, 2014 05:22PM

Himax Technologies, Inc. (Nasdaq: HIMX) announced that Google Inc. has decided not to exercise its previously issued purchase option to make an additional investment into Himax's subsidiary, Himax Display Inc. ("HDI"). Himax has been authorized by Google to make the following statement: "Google continues to work closely with Himax as a strategic partner on future technologies and products and will remain a board observer."

Subsequent to Google's first round investment in the Company's HDI subsidiary in October 2013, Himax has formed a strategic partnership with Google whereby Himax is the provider of liquid crystal on silicon ("LCOS") microdisplay technology that Google has recognized as the technology of choice for head-mounted displays (HMD) such as Google Glass. Since the third quarter of 2013, HDI has been expanding capacity and further enhancing production capabilities to meet demand for our LCOS product line.

"Google is one of the world's leading technology companies and innovators," stated Jordan Wu, President and Chief Executive Officer of Himax. "Despite Google's decision not to exercise its investment option in our HDI subsidiary, our continued close partnership with Google is invaluable as we aim to become a leading supplier to wearable technology companies and help to make the future of wearable products a reality. The on-going development and collaboration between Google and HDI validates our LCOS technology as the most superior and best suited microdisplay for wearable devices such as Google Glass," concluded Mr. Wu.

Founded in 2004, Himax Display, Inc. has focused on developing commercial applications for LCOS technologies, in-house manufacturing expertise and production lines with proven, high-volume shipment track records. Over the last few years, HDI has devoted its research and development of its LCOS technology for new applications of head-mounted display and other wearable computing applications.


Blue Earth, Inc. (BBLU) Responds to Short Seller Pump Stopper Oct 21, 2014 05:21PM

Blue Earth, Inc. (NASDAQ: BBLU) (Company) a renewable/alternative energy and energy efficiency services company, responded today to false statements and allegations made by the Pump Stopper in Seeking Alpha.

"Response by Johnny R. Thomas, CEO of Blue Earth, to False Statements of "The Pump Stopper".

This posting compiles selective information in a false and misleading manner to maliciously advance, we believe, a "short agenda" for personal gain. Responding to all of the falsehoods and innuendos would dignify the author with more credibility than deserved.

1. Fraud Allegations at ABTX: A class action suit was filed against ABTX and management. The lawsuit was DISMISSED with prejudice. The law firm that spearheaded the lawsuit, Milberg Weiss, was disbanded and certain principals went to jail for their illegal activities in initiating and pursuing such lawsuits. In America, any one can file an allegation and any one can make misleading and false accusations as this disreputable party has done. Filing does not make them true. Consider the financial motive of the author as he panics investors into selling to cover short positions and reap huge profits.

2. BBLU has hired multiple stock promoters: Investor Relations outreach is an important and critical fiduciary duty of management. There is a difference between investor relations and "stock promoters" as implied by the author. Investors should be aware that the Company provided the exchanges with every investor relations contract as part of a full disclosure during the up listing process.

3. Multiple accounting red flags: This is a favorite of rumormongers and liars. Two S-1 registration statements have been declared effective over the past two years, most recently on May 15, 2014. In both cases there was a full SEC review of our financial statements and business descriptions. There have been no accounting changes since that full review.

4. Current auditor PCAOB deficiencies: Our current auditors were picked carefully to find quality auditors at reasonable rates. They were selected because they have an excellent PCAOB track record and because they are a network affiliate of the McGladrey group. This selection is consistent with many early stage companies that seek to upgrade their auditors as they prepare for an exchange listing. Investors that desire to evaluate the truth of the Pump Stopper are encouraged to compare the number and magnitude of PCAOB comments in the files of the big four audit firms against those of our auditors.

5. CHP business already failing with due diligence turning up serious regulatory issues: CHP is environmentally a "clean" energy solution that reduces the carbon footprint of the customer and saves the customer money on their energy costs. It is a proven technology that is favored by regulations, contrary to the false statements in the posting.

6. Traffic business has apparently already failed: This product is a new product that was only introduced into the market place in May. The response has been good, as measured by sales to date.

7. Law Enforcement Investigation: The Company is not aware of any prior or current investigation and believes the recent full review of securities filings and the recent exchange up-listing support this belief.

8. Freedom of Information letter: This is a form letter that is generated in response to such requests. This letter is in no way an indication that an investigation is either occurred or is on-going. Please read the following quote from the letter. "It is the general policy of the Commission to conduct its investigations on a non-public basis. Thus subject to the provisions of FOIA, the commission does not disclose the existence or non-existence of an investigation…"

9. Summary Statement: Management has been involved in public markets for approximately 30 years. We pride ourselves on our corporate governance and public company management. We have never had a re-statement or an allegation of wrong doing by a regulatory body. The Company is investigating what actions can be taken against parties that spread false allegations for their personal gain at the expense of our shareholders and our Company."


Lake Shore Gold (LSG) Reports Drilling Results from Timmins West Mine Oct 21, 2014 05:20PM

Lake Shore Gold Corp. (NYSE: LSG) today announced results from 48 holes totaling 13,916 metres ("m") of exploration drilling at the Timmins West Mine. The holes being reported represent the bulk of the 20,000 m exploration program announced in January 2014. 40 holes (9,540 m) were designed to test the S2 Fold Nose, a second fold nose structure similar to the main Timmins Deposit fold nose which hosts most of the Deposit's existing reserves, as well as depth extensions of the Ultramafic and Footwall zones between the 790 and 1050 m levels. An additional eight widely-spaced holes (4,376 m) were drilled to explore the contact between the Timmins Deposit and Thunder Creek. All drilling was completed from five main platforms at the Timmins Deposit located on the 750, 790 and 830 levels.

Tony Makuch, President and CEO of Lake Shore Gold, commented: "Today's results from drilling in the S2 Fold Nose confirm the presence of elevated gold values and identify opportunities for extensions and new areas of gold mineralization. The S2 Fold Nose is a high potential exploration target with similar characteristics to the Deposit's main fold nose structure. Intersecting high-grade mineralization in both the North and South limbs of the S2 Fold Nose is very encouraging, with additional drilling now planned for the purpose of proving continuity of the zones in both limbs.

"Today's results come two weeks after we announced the intersection of wide, high-grade mineralization in the 144 Gap. A review of the geology at Thunder Creek and 144 increasingly suggests that there may be multiple lenses of gold mineralization southwest of Thunder Creek extending into the 144 Gap with the potential for additional deposits further along the Thunder Creek-144 Trend. Considering recent drill results at both Timmins Deposit and Thunder Creek, we are increasingly optimistic about the potential to identify new resources at Timmins West Mine as more work is completed. Given the proximity of new mineralization in the S2 Fold Nose and Thunder Creek to existing mine development (between 100 and 700 m), the Company is planning to establish exploration drifts into these areas as part of a more aggressive underground exploration program."

Significant intercepts from the North Limb and nose of the S2 Fold Nose include 12.32 grams per tonne ("gpt") over 9.3 m, including 27.7 gpt over 3.3 m in 830-044, 5.57 gpt over 11.6 m in 750-045 and 11.72 gpt over 9.7 m, including 28.84 gpt over 1.6 m, in 790-056. These results were obtained in areas near the 890 Level along strike of existing resource blocks.

Significant intercepts from the South Limb near the 790 Level include 12.85 gpt over 5.4 m, including 23.50 gpt over 3.0 m, in 790-150, 3.79 over 8.3 m in 790-152, 23.73 gpt over 5.0 m, including 98.40 gpt over 1.0 m, in 790-153, 7.82 over 3.6 m in 790-156 and 4.08 gpt over 4.0 m in 790-158. Most of the holes were drilled on two cross sections east of existing resource blocks with the mineralized zones remaining open to the east.

Drilling below current resource shapes for the Footwall and Ultramafic zones between the 790 and 850 levels also returned significant intersections. Among these intercepts are 6.28 gpt over 4.2 m in 750-013, 38.56 gpt over 3.1 m in 790-089, 14.80 gpt over 4.9 m in 790-114 and 7.10 gpt over 5.50 m in 790-092.

Interpretation of the new data suggests mineralization occurs within a series of lenses surrounding the S2 Fold Nose with variable sizes and grades. Tighter-spaced drilling is planned in order to more fully assess the resource potential of both the North and South limbs.

Eight widely-spaced holes (4,376 m) were also drilled to explore along the contact between the Timmins and Thunder Creek deposits. No significant gold values were intersected from this drilling.

In conjunction with an ongoing surface drill program at the 144 Property, the Company has conducted a review of the geology between the Thunder Creek Deposit and the discovery holes announced 770 metres to the west (see press release issued October 7, 2014). Results of this review indicate that the Thunder Creek Deformation Zone has been offset by local faulting with there being no significant testing below the 700 m level. The review also indicates excellent potential for multiple porphyry intrusions and additional gold mineralization immediately southwest of Thunder Creek along the Thunder Creek-144 Trend. Surface drilling to further evaluate this potential is in progress.

Qualified Person

The Qualified Person ("QP") for Lake Shore Gold's drill program at the Highway 144 Property is Senior Vice-President Exploration, Eric Kallio, P.Geo. who, as a QP, has prepared or supervised the preparation of the scientific or technical information for the property and verified the data disclosed in this press release. Mr. Kallio is an employee of Lake Shore Gold.

Quality Control

Lake Shore Gold has implemented a quality-control program to ensure best practice in the sampling and analysis of the drill core. Assays have been completed using a standard fire assay with a 30-gram aliquot. For samples that return a value greater than 10 grams per tonne gold, the sample is fire assayed with a gravimetric finish. Select zones with visible gold are tested by pulp metallic analysis. NQ size drill core is saw cut and half the drill core is sampled in standard intervals. The remaining half of the core is stored in a secure location. The drill core is transported in security sealed bags for preparation at ALS Minerals Preparation facility located either in Sudbury, ON, or to Val d'Or Quebec and the pulps are subsequently shipped to the ALS Minerals assay laboratory facility in Val d'Or, Quebec (or rarely in North Vancouver, B.C for fire assay. These ALS Minerals facilities are all registered ISO 9001-2008 (CERT-0051527). The Val d'Or assay laboratory is SCC ISO/IEC 17025:2005 Accredited (#689) and the North Vancouver, BC assay laboratory is also SCC ISO/IEC 17025:2005 Accredited (#579).


Vertex Pharma (VRTX) Affirms FDA Panel Approval of KALYDECO for R117H Mutation of CF Oct 21, 2014 04:48PM

Vertex Pharma (NASDAQ: VRTX) announced that the U.S. Food and Drug Administration’s Pulmonary Allergy Drugs Advisory Committee (PADAC) voted 13-2 to recommend approval of KALYDECO (ivacaftor) in people with cystic fibrosis (CF) ages 6 and older who have the R117H mutation in the cystic fibrosis transmembrane regulatory (CFTR) gene, which is the indication being reviewed by the FDA.

“Today’s recommendation is a positive and important step toward making ivacaftor available for people ages 6 and older with the R117H mutation,” said Jeffrey Chodakewitz, M.D., Senior Vice President and Chief Medical Officer at Vertex.

Advisory committees provide the FDA with independent scientific and medical advice on safety, effectiveness and appropriate use of potential new medicines. The FDA is not bound by the committee's recommendation, but often follows its advice. The FDA is expected to make a decision on the approval of ivacaftor by December 30, 2014 under the Prescription Drug User Fee Act (PDUFA).

Cystic fibrosis is caused by a defective or missing CFTR protein resulting from mutations in the CFTR gene. KALYDECO is currently approved to treat more than 2,600 people ages 6 and older in North America, Europe and Australia who have specific mutations in the CFTR gene. In the United States, these mutations include G551D, G178R, S549N, S549R, G551S, G1244E, S1251N, S1255P and G1349D. In people with the R117H mutation, the CFTR protein reaches the cell surface but does not function properly. Approximately 500 people ages 6 and older have this mutation in the United States.

INDICATION AND IMPORTANT SAFETY INFORMATION FOR KALYDECO® (ivacaftor)

Ivacaftor (150 mg tablets) is indicated for the treatment of cystic fibrosis (CF) in patients age 6 years and older who have a G551D mutation in the CFTR gene.

In the United States, ivacaftor is also indicated for the treatment of CF in patients age 6 and older who have one of the following mutations in the CFTR gene: G1244E, G1349D, G178R, G551S, S1251N, S1255P, S549N, or S549R. In Canada, ivacaftor is indicated for these same mutations and additionally for G970R.

Ivacaftor is not effective in patients with CF with 2 copies of the F508del mutation (F508del/F508del) in the CFTR gene. The safety and efficacy of ivacaftor in children with CF younger than 6 years of age have not been established.

Elevated liver enzymes (transaminases; ALT and AST) have been reported in patients receiving ivacaftor. It is recommended that ALT and AST be assessed prior to initiating ivacaftor, every 3 months during the first year of treatment, and annually thereafter. Patients who develop increased transaminase levels should be closely monitored until the abnormalities resolve. Dosing should be interrupted in patients with ALT or AST of greater than 5 times the upper limit of normal. Following resolution of transaminase elevations, consider the benefits and risks of resuming ivacaftor dosing.

Use of ivacaftor with medicines that are strong CYP3A inducers, such as the antibiotics rifampin and rifabutin; seizure medications (phenobarbital, carbamazepine, or phenytoin); and the herbal supplement St. John's Wort, substantially decreases exposure of ivacaftor and may diminish effectiveness. Therefore, co-administration is not recommended.

The dose of ivacaftor must be adjusted when used concomitantly with strong and moderate CYP3A inhibitors or when used in patients with moderate or severe hepatic disease.

Ivacaftor can cause serious adverse reactions including abdominal pain and high liver enzymes in the blood. The most common side effects associated with ivacaftor include headache; upper respiratory tract infection (the common cold), including sore throat, nasal or sinus congestion, and runny nose; stomach (abdominal) pain; diarrhea; rash; and dizziness. These are not all the possible side effects of ivacaftor. A list of the adverse reactions can be found in the product labeling for each country where ivacaftor is approved. Patients should tell their healthcare providers about any side effect that bothers them or does not go away.

Please see KALYDECO U.S. Prescribing Information, EU Summary of Product Characteristics, Canadian Product Monograph, Australian Consumer Medicine Information and Product Information, Swiss Prescribing Information and Patient Information, and the New Zealand Datasheet and Consumer Medicine Information.


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