Armanino Foods of Distinction, Inc. Appoints New CEO
Ms. Jurgens is a proven leader who has deep experience growing branded businesses, an established track record with large foodservice and retail customers and success scaling companies globally. These experiences position her to lead Armanino Foods into its next phase of growth and expansion.
Ms. Jurgens most recently served as Chief Sales Officer at Bonduelle Americas, where she led the $650 million fresh business. In the last two years, through a strategy of customer acquisition, innovation, expansion, and cost management, she successfully guided Bonduelle Americas branded business to its largest share gains in five years thereby driving greater profitability.
Prior to Bonduelle America, Jurgens was the President of North America and Global Chief Growth Officer for Beyond Meat, where she grew the international business by developing global partnerships with McDonalds and YUM Brands. She worked to expand Beyond Meat's brand in the US through a PepsiCo joint venture in plant-based jerky, achieving a dominant market share in one year. Earlier in her career, Jurgens spent 16 years with PepsiCo where she partnered with some of the largest retailers in the US, including Walmart, Target and Sam's Club. She also spent time leading the operations of Frito-Lay's largest region which generated over $3B in annual revenue. Ms. Jurgens has received many industry honors, including being named to Fortune's 'Most Powerful Women – Next Gen'.
Douglas R. Nichols, Chairman of the Board, stated, "The Board is thrilled to welcome Deanna Jurgens as our new President and CEO. Ms. Jurgens' extensive food industry experience speaks for itself—her leadership roles at Bonduelle Americas and Beyond Meat have consistently delivered growth, innovation, and strong customer partnerships. Her strategic vision and proven ability to scale brands globally make her exceptionally well-suited to lead Armanino Foods into its next phase of growth and innovation. I also want to express my sincere appreciation to Director James Ford for his exceptional leadership throughout the CEO search process, and to Al Banisch and Tony Muscato for their diligent evaluation of the many outstanding candidates."
Mr. Nichols concluded, 'We see this decision to hire Deanna as a new future building on a great passionate past.'
Ms. Jurgens stated, 'I'm honored and excited to take on the role of CEO to lead Armanino into its next phase of prosperity. This company has an incredible foundation of growth, and I look forward to working with our talented team, suppliers and customers to further broaden our company, build on the Armanino tradition and extend our success well into the future.'
Armanino Foods of Distinction, Inc. is an international food company that manufactures and markets frozen Italian specialty food items to the foodservice, retail, and industrial markets. In addition to a classic Basil Pesto, Armanino offers other flavors and sauces including Cilantro, Dried Tomato & Garlic, Roasted Red Bell Pepper, Southwest Chipotle, Artichoke, Roasted Garlic, Light Basil Pesto, Chimichurri, Harissa, Bolognese, and Alfredo. Armanino's organic line includes classic Basil Pesto. Finally, Armanino Foods also offers cheese shakers, frozen pastas, and meatballs.
Cautionary Statements Regarding Forward-Looking Information
Statements in this news release regarding our expectations and beliefs about our future financial performance and trends in our markets are 'forward-looking statements' as defined in the Private Securities Litigations Reform Act of 1995. Forward-looking statements often include the words 'believe,' 'expect,' 'anticipate,' 'intend,' 'plan,' 'estimate,' 'project,' or words of similar meaning, or future or conditional verbs such as 'will,' 'would,' 'should,' 'could,' or 'may.'
The forward-looking statements in this news release regarding our future financial performance are based on current information and because our business is subject to several risks and uncertainties, actual operating results in the future may differ significantly from the future financial performance expected at the current time. Those risks and uncertainties may include, among others: economic factors affecting consumer confidence and discretionary spending and reducing the consumption of food prepared away from home; the extent and duration of the negative impact of the COVID-19 pandemic and its consequences on the Company; cost inflation/deflation and commodity volatility; competition; reliance on third party suppliers and interruption of product supply or increases in product costs; changes in the Company's relationships with customers and group purchasing organizations; the Company's ability to increase or maintain the highest margin portions of the Company's business; achievement of expected benefits from cost savings initiatives; increases in fuel costs; changes in consumer eating habits; cost and pricing structures and other governmental regulation, including actions taken by national, state and local governments to contain and/or respond to the COVID-19 pandemic and its consequences; product recalls and product liability claims; and our reputation in the industry. The forward-looking statements contained in this press release speak only as of the date of this press release and are based on information and estimates available to the Company at this time. We undertake no obligation to update or revise any forward-looking statements, except as may be required by law.
The best source of information on the company is the OTC Markets website (http://www.otcmarkets.com/stock/AMNF/company-info).
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Stay Connected For more information about Avicanna, visit our website or contact Ivana Maric by email at info@ Cautionary Note Regarding Forward-Looking Information and Statements This news release contains 'forward-looking information' within the meaning of applicable securities laws. Forward-looking information contained in this news release may be identified by the use of words such as, 'may', 'would', 'could', 'will', 'likely', 'expect', 'anticipate', 'believe', 'intend', 'plan', 'forecast', 'project', 'estimate', 'outlook' and other similar expressions. Forward-looking information contained in this news release includes, without limitation, statements related to the Offering, the use of proceeds of the Offering, the receipt of all approvals of the Toronto Stock Exchange in connection with the Offering, statements with respect to the Company's future business operations, the opinions or beliefs of management and future business goals. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company's annual information form dated April 11, 2025, filed with the Canadian securities regulators and available under the Company's profile on SEDAR+ at The statements in this news release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Hemisphere Energy Announces 2025 Second Quarter Results, Declares Quarterly Dividend, and Provides Operations Update
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Please visit the source.] Quarterly Dividend Hemisphere is pleased to announce that its Board of Directors has approved a quarterly base cash dividend of $0.025 per common share in accordance with the Company's dividend policy. The dividend will be paid on September 12, 2025 to shareholders of record as of the close of business on August 29, 2025. The dividend is designated as an eligible dividend for income tax purposes. Operations Update With significant volatility in the economy and oil markets earlier this year, Hemisphere elected to defer the majority of its capital spending into the latter third of the year. With relatively flat base production, the Company has focused on balance sheet strength and shareholder returns through its share buyback program, base quarterly dividends, and the announcements of two special dividends year-to-date. The Company's drilling program is now scheduled to commence late in the third quarter. 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The presentation will be livestreamed on EnerCom's website at (Confluence C) and archived on Hemisphere's website at About Hemisphere Energy Corporation Hemisphere is a dividend-paying Canadian oil company focused on maximizing value-per-share growth with the sustainable development of its high netback, ultra-low decline conventional heavy oil assets through polymer flood enhanced oil recovery methods. Hemisphere trades on the TSX Venture Exchange as a Tier 1 issuer under the symbol 'HME' and on the OTCQX Venture Marketplace under the symbol 'HMENF'. For further information, please visit the Company's website at to view its corporate presentation or contact: Don Simmons, President & Chief Executive Officer Telephone: (604) 685-9255 Email: [email protected] Website: Forward-looking Statements Certain statements included in this news release constitute forward-looking statements or forward-looking information (collectively, 'forward-looking statements') within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as 'anticipate', 'continue', 'estimate', 'expect', 'forecast', 'may', 'will', 'project', 'could', 'plan', 'intend', 'should', 'believe', 'outlook', 'potential', 'target' and similar words suggesting future events or future performance. In particular, but without limiting the generality of the foregoing, this news release includes forward-looking statements including that Hemisphere's drilling program is now scheduled to commence late in the third quarter and will include several development wells in Atlee Buffalo in addition to at least one new well in Marsden, which will test a second oil-bearing zone on Hemisphere's lands; that Hemisphere may adjust capital spending depending on oil market volatility; that Hemisphere is in a unique position to act on potential acquisition opportunities and continued shareholder returns; and that a dividend will be paid September 12, 2025 to shareholders of record as of the close of business on August 29, 2025. Forward‐looking statements are based on a number of material factors, expectations or assumptions of Hemisphere which have been used to develop such statements and information but which may prove to be incorrect. Although Hemisphere believes that the expectations reflected in such forward‐looking statements or information are reasonable, undue reliance should not be placed on forward‐looking statements because Hemisphere can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: the current and go-forward oil price environment; that Hemisphere will continue to conduct its operations in a manner consistent with past operations; that results from drilling and development activities are consistent with past operations; the quality of the reservoirs in which Hemisphere operates and continued performance from existing wells; the continued and timely development of infrastructure in areas of new production; the accuracy of the estimates of Hemisphere's reserve volumes; certain commodity price and other cost assumptions; continued availability of debt and equity financing and cash flow to fund Hemisphere's current and future plans and expenditures; the impact of increasing competition; the general stability of the economic and political environment in which Hemisphere operates; the general continuance of current industry conditions; the timely receipt of any required regulatory approvals; the ability of Hemisphere to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of the operator of the projects in which Hemisphere has an interest in to operate the field in a safe, efficient and effective manner; the ability of Hemisphere to obtain financing on acceptable terms; field production rates and decline rates; the ability to replace and expand oil and natural gas reserves through acquisition, development and exploration; the timing and cost of pipeline, storage and facility construction and expansion and the ability of Hemisphere to secure adequate product transportation; future commodity prices; currency, exchange and interest rates; regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which Hemisphere operates; and the ability of Hemisphere to successfully market its oil and natural gas products. The forward‐looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results or events to defer materially from those anticipated in such forward‐looking statements including, without limitation: changes in commodity prices; changes in the demand for or supply of Hemisphere's products, the early stage of development of some of the evaluated areas and zones; unanticipated operating results or production declines; changes in tax or environmental laws, royalty rates or other regulatory matters; changes in development plans of Hemisphere or by third party operators of Hemisphere's properties, increased debt levels or debt service requirements; inaccurate estimation of Hemisphere's oil and gas reserve volumes; limited, unfavourable or a lack of access to capital markets; increased costs; a lack of adequate insurance coverage; the impact of competitors; and certain other risks detailed from time‐to‐time in Hemisphere's public disclosure documents, (including, without limitation, those risks identified in this news release and in Hemisphere's Annual Information Form). The forward‐looking statements contained in this news release speak only as of the date of this news release, and Hemisphere does not assume any obligation to publicly update or revise any of the included forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. Non-IFRS and Other Financial Measures This news release contains the terms adjusted funds flow from operations, free funds flow, capital expenditures, operating field netback, operating netback, and working capital/net debt, which are considered 'non-IFRS financial measures' and any of these measures calculated on a per boe basis, which are considered 'non-IFRS financial ratios'. These terms do not have a standardized meaning prescribed by IFRS. Accordingly, the Company's use of these terms may not be comparable to similarly defined measures presented by other companies. Investors are cautioned that these measures should not be construed as an alternative to net income (loss) or cashflow from operations determined in accordance with IFRS and these measures should not be considered more meaningful than IFRS measures in evaluating the Company's performance. a)Adjusted funds flow from operations ('AFF') (Non-IFRS Financial Measure and Ratio if calculated on a per share or boe basis): The Company considers AFF to be a key measure that indicates the Company's ability to generate the funds necessary to support future growth through capital investment and to repay any debt. AFF is a measure that represents cash flow generated by operating activities, before changes in non-cash working capital and adjusted for decommissioning expenditures and may not be comparable to measures used by other companies. The most directly comparable IFRS measure for AFF is cash provided by operating activities. AFF per share is calculated using the same weighted-average number of shares outstanding as in the case of the earnings per share calculation for the period. A reconciliation of AFF to cash provided by operating activities is presented as follows: [This table cannot be displayed. Please visit the source.] b)Free funds flow ('FFF') (Non-IFRS Financial Measure): Calculated by taking adjusted funds flow and subtracting capital expenditures, excluding acquisitions and dispositions. Management believes that free funds flow provides a useful measure to determine Hemisphere's ability to improve returns and to manage the long-term value of the business. [This table cannot be displayed. Please visit the source.] c)Capital Expenditures (Non-IFRS Financial Measure): Management uses the term 'capital expenditures' as a measure of capital investment in exploration and production assets, and such spending is compared to the Company's annual budgeted capital expenditures. The most directly comparable IFRS measure for capital expenditures is cash flow used in investing activities. A summary of the reconciliation of cash flow used in investing activities to capital expenditures is set forth below: [This table cannot be displayed. Please visit the source.] d)Operating field netback (Non-IFRS Financial Measure and Ratio if calculated on a per boe basis): A benchmark used in the oil and natural gas industry and a key indicator of profitability relative to current commodity prices. Operating field netback is calculated as oil and gas sales, less royalties, operating expenses, and transportation costs on an absolute and per barrel of oil equivalent basis. These terms should not be considered an alternative to, or more meaningful than, cash flow from operating activities or net income or loss as determined in accordance with IFRS as an indicator of the Company's performance. e)Operating netback (Non-IFRS Financial Measure and Ratio if calculated on a per boe basis): Calculated as the operating field netback plus the Company's realized gain (loss) on derivative financial instruments on an absolute and per barrel of oil equivalent basis. f)Working Capital/Net debt (Non-IFRS Financial Measure): Closely monitored by the Company to ensure that its capital structure is maintained by a strong balance sheet to fund the future growth of the Company. Working capital/Net debt is used in this document in the context of liquidity and is calculated as the total of the Company's current assets, less current liabilities, excluding derivative financial instruments, decommissioning obligations, lease liabilities, and tax provisions, and including any bank debt. There is no IFRS measure that is reasonably comparable to working capital/net debt. The following table outlines the Company calculation of working capital/net debt: [This table cannot be displayed. Please visit the source.] g)Supplementary Financial Measures and Non-IFRS Ratios 'Adjusted Funds Flow from operations per basic share' is comprised of funds from operations divided by basic weighted average common shares. 'Adjusted Funds Flow from operations per diluted share' is comprised of funds from operations divided by diluted weighted average common shares. 'Annual Free Funds Flow' is comprised of free funds flow from the current three-month period multiplied by four. 'Operating expense per boe' is comprised of operating expense, as determined in accordance with IFRS, divided by the Company's total production. 'Realized heavy oil price' is comprised of heavy crude oil commodity sales from production, as determined in accordance with IFRS, divided by the Company's crude oil production. 'Realized natural gas price' is comprised of natural gas commodity sales from production, as determined in accordance with IFRS, divided by the Company's natural gas production. 'Realized combined price' is comprised of total commodity sales from production, as determined in accordance with IFRS, divided by the Company's total production. 'Royalties per boe' is comprised of royalties, as determined in accordance with IFRS, divided by the Company's total production. 'Transportation costs per boe' is comprised of transportation expense, as determined in accordance with IFRS, divided by the Company's total production. The Company has provided additional information on how these measures are calculated in the Management's Discussion and Analysis for the year ended December 31, 2024 and the interim period ended June 30, 2025, which are available under the Company's SEDAR+ profile Oil and Gas Advisories Any references in this news release to initial production rates (including as a result of recent water or polymer flood activities) are useful in confirming the presence of hydrocarbons; however, such rates are not determinative of the rates at which such wells will continue production and decline thereafter and are not necessarily indicative of long-term performance or ultimate recovery. While encouraging, readers are cautioned not to place reliance on such rates in calculating the aggregate production for the Company. Such rates are based on field estimates and may be based on limited data available at this time. A barrel of oil equivalent ('boe') may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf:1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In addition, given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value. Definitions and AbbreviationsTo view the source version of this press release, please visit
