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Remark Holdings Enters into Debt Exchange Agreement with Mudrick Capital Management, L.P., Resolving All Previous Default Issues

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Remark Holdings and Mudrick enter into an agreement that allows for the exchange of Mudrick’s currently non-convertible notes payable from Remark for convertible notes payable that allow Mudrick to participate in Remark’s equity upsideMudrick can convert the current $19 million of debt and accrued interest into Remark’s common stock reducing the debt on Remark’s balance sheet

LAS VEGAS, Aug. 7, 2024 /PRNewswire/ — Remark Holdings, Inc. (OTCQX: MARK), a leading provider of AI-powered computer vision analytics, smart city, and smart agent solutions today announced that it has entered into a debt exchange agreement with Mudrick Capital Management L.P. that resolves Remark’s events of default concerning the existing non-convertible notes payable that the company issued to Mudrick by exchanging such non-convertible notes payable for notes payable convertible into shares of the company’s common stock reducing the debt on Remark’s balance sheet.

“We are pleased to enter into a win-win agreement with Remark because the company has outlined a clear business plan over the next 24 months that gives us the confidence to enter into this exchange agreement. The agreement resolves all currently-outstanding events of default, but more importantly, as we convert the debt to equity, Remark’s balance sheet will be strengthened and we will be able to participate in Remark’s future potential. The recent sales and marketing partnerships announced with Intel, Microsoft, Nvidia, and Oracle coupled with a cutting-edge product roadmap, support a strong pipeline for the second half of 2024 and beyond, as Remark’s AI products are sold by the salespersons and in the marketplaces of such heavy hitters in the industry. Previously, we successfully worked with other attractive risk-reward opportunities such as AMC Entertainment, whose balance sheet had been temporarily impaired despite strong business prospects. Remark perfectly fits our investment thesis for finding similar attractive risk-reward opportunities,” says Jason Mudrick, President of Mudrick Capital.

“We want to thank Mudrick Capital for working with us while we built our business to the point at which we can all experience the fruits of our labor based on the vision established 10 years ago. Together, we turned our financial challenges into opportunities and now Remark begins the process of transforming our balance sheet to capitalize on our exciting future in AI. As we reduce our debt and increase our shareholder equity, we intend to re-list on a national exchange in the fall,” said Kai-Shing Tao, Chairman and CEO of Remark Holdings.

About Mudrick Capital Management, L.P.

Mudrick Capital Management, L.P. is an SEC-registered investment management firm specializing in stressed and distressed credit investing in the U.S. and European credit markets with offices in New York and London. Mudrick manages approximately $3.3 billion as of December 31, 2023, on behalf of a diverse group of sophisticated global institutional investors. Mudrick Capital focuses on opportunities across the corporate capital structure to find investments with attractive risk-reward ratios. The goal is to provide equity-like returns with credit-like risk and volatility in an uncorrelated fashion.

Founded in 2009, Mudrick Capital has deployed over $12 billion across over 300 investments since inception. The team of seasoned research professionals, led by Chief Investment Officer Jason Mudrick, has over 180 years of combined investing experience and collectively has served on over 200 boards of directors and creditors’ committees. https://www.mudrickcapital.com/about

About Remark Holdings, Inc.

Remark Holdings, Inc. (OTCQX: MARK) is the AI-powered analytics platform that brings valuable insights to the video feeds provided by current cameras and computer vision solutions through its integrated suite of AI tools that help organizations understand their customer behavior and demographics while providing real-time alerts to predetermined inspection and security parameters. Remark’s international team of sector-experienced professionals has created award-winning GDPR-compliant and CCPA-compliant video analytics solutions that service the government agencies, hospitality, public safety, retail, and transportation sectors. Remark has established sales and marketing relationships with Intel, Microsoft, Nvidia, and Oracle. The company’s headquarters are in Las Vegas, Nevada, USA, with operational offices in New York and international offices in London, England. For more information, please visit our home page at www.remarkholdings.com

Forward-Looking Statements

This press release may contain forward-looking statements, including information relating to future events, future financial performance, strategies, expectations, competitive environment, and regulations. Words such as “may,” “should,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar expressions, as well as statements in the future tense, identify forward-looking statements. These statements involve known and unknown risks, uncertainties, and other factors, including those discussed in Part I, Item 1A. Risk Factors in Remark Holdings’ Annual Report on Form 10-K and Remark Holdings’ other filings with the SEC. Any forward-looking statements reflect Remark Holdings’ current views with respect to future events, are based on assumptions, and are subject to risks and uncertainties. Given such uncertainties, you should not place undue reliance on any forward-looking statements, which represent Remark Holdings’ estimates and assumptions only as of the date hereof. Except as required by law, Remark Holdings undertakes no obligation to update or revise publicly any forward-looking statements after the date hereof, whether as a result of new information, future events or otherwise.

Company Contact 

Fay Tian
Vice President of Investor Relations
Remark Holdings
F.Tian@remarkholdings.com
(+1) 626-623-2000

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SOURCE Remark Holdings, Inc.

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Aleut Achieves Prestigious CMMI Level 3 Certification in Four Key Domains

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January 9, 2025

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RESTON, Va., Jan. 9, 2025 /PRNewswire/ — Aleut Federal LLC (Aleut) proudly announces it has earned Capability Maturity Model Integration (CMMI) Level 3 certification in four key domains: Development (CMMI-DEV), Services (CMMI-SVS), Security (CMMI-SEC), and People Management (CMMI-PPL). This significant achievement highlights Aleut’s commitment to operational excellence and its ability to deliver high-quality, efficient and secure solutions. It demonstrates Aleut’s strength in optimizing product development, improving service delivery, enhancing security, and aligning workforce management to drive performance and engagement. 

CMMI, developed by the globally recognized CMMI Institute, is a framework for assessing and improving organizational performance. Achieving Level 3 certification affirms that Aleut’s processes are clearly defined, consistently applied, and supported by robust standards, tools, and methodologies. This milestone underscores the company’s ongoing dedication to operational excellence, mitigating risk, and delivering measurable performance success.

“This certification shows our customers that Aleut doesn’t just meet their mission-critical needs – we excel at it,” said Nick Trzcinski, President of Aleut Federal. “We are committed to continuous improvement, innovation, and delivering exceptional value. Aleut is a partner our customers can trust.”

Aleut’s CMMI Level 3 certification enhances its ability to deliver high-quality outcomes across all projects while optimizing efficiency and minimizing risks. Complemented by the company’s ISO 9001 certification for quality management, these achievements reinforcing Aleut’s adherence to internationally recognized standards, solidifying its position as a reliable and innovative partner for federal clients.

To read Aleut Federal’s CMMI Appraisal, click here.

ABOUT ALEUT FEDERAL
Aleut Federal LLC, a holding company within The Aleut Corporation’s federal services portfolio, is an Alaska Native-owned enterprise delivering vital services to the U.S. government across four primary sectors: Technology, Mission Support, Environmental, and Construction. Established under the Alaska Native Claims Settlement Act (ANCSA) of 1971, The Aleut Corporation is one of 12 regional Alaska Native corporations. Aleut Federal’s subsidiaries, including Small Business Administration (SBA) certified 8(a) program participants and Small Disadvantaged Business (SDB) entities, bring specialized capabilities to meet the diverse needs of federal agencies.

By achieving CMMI Level 3 certification, Aleut Federal strengthens its standing as an industry leader, driving performance excellence while delivering mission-focused solutions with unmatched quality and efficiency.

Contact:
Berlyn Martin
Aleut Federal, LLC
Phone: 276-244-3319

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SOURCE Aleut Federal, LLC

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Lowell Observatory Scientists to Present New Research at American Astronomical Society Winter Meeting- Including New and Unexpected Insights on Planet Formation

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January 9, 2025

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Lowell Observatory researchers will join more than 3,000 astronomers at AAS245 in Maryland from January 12-16, 2025

FLAGSTAFF, Ariz., Jan. 9, 2025 /PRNewswire/ — The American Astronomical Society’s winter meeting is the largest annual gathering of astronomers in the United States, and Lowell Observatory will be well-represented this year. Executive Director Dr. Amanda Bosh and Director of Science Dr. Gerard van Belle—both of whom just stepped into their positions—lead a contingency of more than a dozen scientists and support staff attending the meeting.

Lowell Observatory will be in attendance at Exhibitor Booth 521, with its astronomers, postdocs, predocs, and other researchers available to discuss their latest science research. Of particular note, Postdoctoral Fellow Taylor Kutra will share unexpected new ways planets may form, based on a study of a binary star system in Taurus that she leads. Kutra will present her findings during both a Tuesday (January 14) science session and Thursday (January 16) press conference.

Other Lowell Observatory scientists will present on topics including comets, asteroids, the Sun and Sun-like stars, exoplanets, a variety of star types, dwarf irregular galaxies, and space-based interferometry.

Bosh says, “The winter meeting of the AAS is a critical opportunity for astronomers at all stages of their careers to share their latest research and interact with colleagues from around the world. Lowell Observatory is pleased to send a strong contingency of our science team to actively participate in this year’s meeting in National Harbor.”

Media are welcome to attend AAS245 in person. A limited virtual attendance option is also available, with live access to press conferences, plenary talks, select town halls, and a virtual oral session. See https://aas.org/meetings/aas245/press.

AAS245 website: https://aas.org/meetings/aas245

AAS245 Presentations by Lowell Observatory Scientists: Full Schedule Here

About Lowell Observatory
Founded in 1894, Lowell Observatory in Flagstaff, Arizona, is a renowned nonprofit research institution. It is the site of historic and groundbreaking discoveries, including the first evidence of the expanding universe and the discovery of Pluto. Today, Lowell’s astronomers utilize global ground-based and space telescopes, along with NASA spacecraft, for diverse astronomical and planetary science research. The observatory hosts over 100,000 annual visitors for educational tours, presentations, and telescope viewing through a suite of world-class public telescopes.

View original content to download multimedia:https://www.prnewswire.com/news-releases/lowell-observatory-scientists-to-present-new-research-at-american-astronomical-society-winter-meeting–including-new-and-unexpected-insights-on-planet-formation-302347343.html

SOURCE Lowell Observatory

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CRTC consults on market dynamics within Canada’s broadcasting system

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January 9, 2025

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OTTAWA, ON and GATINEAU, QC, Jan. 9, 2025 /CNW/ – Today, the CRTC is taking another step forward to implement the modernized Broadcasting Act (the Act) by launching a public consultation on market dynamics within Canada’s broadcasting system.

Through this consultation, the CRTC will explore the dynamics between small, medium and large broadcasters, television service providers and online streaming services. The goal is to help ensure that Canada’s broadcasting system is sustainable, fair and competitive.

The CRTC is welcoming comments until February 24, 2025. Interested persons can participate by:

filling out the online form;writing to the Secretary General, CRTC, Ottawa, Ontario K1A 0N2;sending a fax to 819-994-0218.

As part of this consultation, the CRTC will hold a public hearing starting on May 12, 2025.

All comments will form part of the public record and will inform the CRTC’s decision.

The launch of today’s consultation follows a number of recent actions the CRTC has taken to implement the modernized Act. To find out more, check out the CRTC’s regulatory plan.

Quick facts

The CRTC is an independent quasi-judicial tribunal that regulates the Canadian communications sector in the public interest. The CRTC holds public consultations on telecommunications and broadcasting matters and makes decisions based on the public record.First Nations, Inuit, and Métis peoples and Indigenous organizations requiring assistance submitting comments, including oral interventions, can contact the CRTC’s Indigenous Relations Team.

Associated links

Participate in the consultationRegulatory PlanModernizing Canada’s broadcasting framework

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SOURCE Canadian Radio-television and Telecommunications Commission

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