News Briefs | Week of Jan. 27
January 30, 2017
Fennemore Craig, a law firm with an office in Reno, has partnered with ROSS Intelligence, as one of the first leading national law firms to engage artificial intelligence (AI) resources to enhance legal research.
The firm will use the artificial intelligence resource in the areas of intellectual property and bankruptcy with further development expected in the areas of tax as well as labor and employment.
Fennemore Craig is currently one of only five law firms of the 175 law firm members of the International Legal Technology Association to partner with ROSS.
Peg's Glorified Ham n Eggs
Peg's Glorified Ham n Eggs, a breakfast and lunch restaurant, has opened a new location at 198 Lemmon Dr. in Reno. It will be open daily from 6:30 a.m. to 2 p.m.
This is the seventh location for the family owned and operated restaurant. Peg's last new location to open was in Carson City over a year ago.
For more information, visit http://www.eatatpegs.com.
One Nevada Credit Union
One Nevada Credit Union, the largest locally owned, federally insured Credit Union in the state, was ranked as the sixth most popular credit union on Twitter, according to the Financial Brand, a national digital publication focused on marketing and strategy issues.
One Nevada has over 13,500 followers on Twitter and has seen a large increase in followers and engagement over the last year. The credit union uses Twitter to interact with members, promote financial literacy, and support community events.
The Financial Brand's list is determined by the number of all-time followers for the fourth quarter of 2016.
Jimmy Beans Wool
Jimmy Beans Wool leased 20,236 square feet at 4850 Joule St. in Reno. Greg Ruzzine of SVN represented the tenant. Dan Oster with the Reno office of NAI Alliance represented the landlord, Christie Perez.
Greater Nevada Credit Union
Greater Nevada Credit Union, headquartered in Carson City and with branches throughout northern Nevada, was recognized by The City of Reno by declaring Tuesday Jan. 24 as "Greater Nevada Credit Union Day."
The proclamation acknowledges the credit union's USDA Lender of the Year Award, the first given to any Nevada based financial institution or credit union.
GNCU was also recognized for its community support to organizations such as Special Olympics of Northern Nevada, Habitat for Humanity, and Salvation Army; and ongoing sponsorship of the University of Nevada Marching Band and Greater Nevada Field.
Myths and Mountains
Incline Village and the Reno/Tahoe area's educational travel company, Myths and Mountains, has been named in Wendy Perrin's 2017 WOW List of Trusted Travel Experts for another year. Both Founder Toni Neubauer and Vice President Allie Almario are on the List; Toni as the expert for Nepal, Bhutan and Myanmar; Allie for Ecuador and the Galapagos Islands.
A complete listing of trips for 2017 is available on http://www.mythsandmountains.com.
The Douglas County Board of County Commissioners will meet in a workshop setting in early February to update the Douglas County Strategic Plan. The Commission is encouraging citizen participation in a survey to capture community insight.
Input from residents and business owners in Douglas County will be a critical part of the planning process. Information collected during the survey will be provided to the Commissioners during their planning workshop in February.
To access the link, go to: http://www.peakdemocracy.com/portals/123/forum_home and can be found under the Open Douglas icon.
Family Quick Care Clinic
Family Quick Care Clinic, a medical practice with offices in Reno and Sparks, took advantage of an attractive SBA loan rate of just 4.093 percent in securing $337,500 in financing to purchase its new clinic at 518 Pyramid Way in Sparks.
The Nevada State Development Corporation helped facilitate SBA 504 financing with Heritage Bank of Nevada. Established in 2006 by Dr. Ryan P. Zeller, the clinic focuses on the growing population of uninsured and underinsured local residents.
Family Quick Care Clinic also has a location at 411 E. Taylor Street in Reno.
US Geomatics, Inc.
US Geomatics, Inc., a Nevada-based corporation providing professional land surveying and mapping services for public and private businesses, has purchased a building at 1071 Haskell Street in Reno.
The location will also serve as new company headquarters.
To finance the $275,000 project, US Geomatics earned an SBA loan arranged through Nevada State Development Corporation. Heritage Bank of Nevada also participated in the financing.
Dynamic Isolation Systems, a company that protects structures from earthquake damage, is holding an event to give visitors the chance to see some of the company's pressure and computer-controlled machines.
The event will be on Wednesday, Feb. 8, from 5:30 – 7:30 p.m. at 885 Denmark Drive, Suite 101 in McCarran. General admission is $25, $15 for NCET members and $10 for children under 18 accompanied by parent or guardian. There's a $10 service charge at the door.
For more information, contact NCET at 775-453-0130 or email info@NCET.org.
The Reno location of U-Haul ranks No. 25 among the U-Haul Top 25 U.S. Growth Cities for locations with a population of more than 50,000.
U-Haul locations in Reno saw 51 percent of one-way truck rental customers coming into the city as opposed to leaving. Reno had a 4 percent decrease in one-way truck arrivals year-over-year, while departures dropped 3 percent over the same span.
Growth rankings are calculated by the net gain of arriving U-Haul one-way trucks over departing one-way U-Haul trucks for the calendar year.
While migration trends do not correlate directly to population or economic growth, U-Haul growth data is an effective gauge of how well cities are attracting and maintaining residents.
Barrick Gold Corp.
Barrick Gold Corp., announced preliminary full-year gold production of 5.52 million ounces for 2016, at the high end of the company's guidance of 5.52-5.55 million ounces. The company produced 1.52 million ounces of gold in the fourth quarter.
Cost of sales applicable to gold is expected to be at the low end of their guidance range of $800-$850 per ounce for 2016.
Full-year all-in sustaining costs are expected to be at or slightly below the low end of the full-year guidance range of $740-$775 per ounce of gold.
Preliminary full-year copper production was 415 million pounds, also in line with production guidance of 380-430 million pounds for 2016. Copper production in the fourth quarter was 101 million pounds.
Full-year cost of sales applicable to copper is expected to be $1.35-$1.55 per pound for 2016, with all-in sustaining costs of $2-$2.20 per pound.
The company's 2016 year-end financial statements and MD&A are expected to be issued on Feb. 15.
Taxpayers living in rural communities should be aware of the Earned Income Tax Credit (EITC) and correctly claim it if they qualify.
The EITC is a federal income tax credit for working people who earned $53,505 or less for 2016 and meet certain eligibility requirements. Those who qualify and claim the credit could pay less federal tax, pay no tax or even get a tax refund.
An eligible taxpayer must have earned income from employment or running or owning a business or farm and meet basic rules.
Eligibility also depends on family size, but single workers without a qualifying child who earn under $20,430 may qualify for a smaller credit.
Also, certain disability payments may qualify as earned income for EITC purposes. To get the credit, taxpayers must file a tax return, even if they do not owe any tax or are not otherwise required to file.
Quaterra Resources Inc.
Quaterra Resources Inc., and its subsidiary Singatse Peak Services LLC announced a 2017 drill program of at least 15 drill holes to test targets throughout the company's 51-square-mile land package located in the historic Yerington District of Nevada.
Freeport-McMoRan Nevada LLC has agreed to make accelerated option payments of up to $1.5 million. SPS has determined that these will be used to fund the 2017 drill program.
Freeport Nevada is a wholly owned subsidiary of Freeport Minerals Corp., which in turn is a wholly owned subsidiary of Freeport-McMoRan Inc.
Pacific Ridge Exploration Ltd.
Pacific Ridge Exploration Ltd., has closed the Fyre Lake option to BMC Minerals that was announced on Dec. 28, 2016.
In addition to the initial $25,000 deposit, BMC has now paid the remaining $50,000 signing payment and the initial $300,000 option payment.
Total consideration payable to the company to exercise the option is $2,575,000 in the case of the one-year option or $3,095,000 in the case of the two year option
In addition, a bonus payment of $1,000,000 is payable to the company if the option is exercised and if and when BMC's Kudz Ze Kayah property has reached commercial production for one year.
BMC has been granted two options effective as of the closing. The first, a one year option whereby, in order to maintain and exercise the option, in addition to the $375,000 payment already made, it must pay the company $2,200,000 no later than one year after closing, or the second, a two year option whereby, in order to maintain and exercise the option, in addition to the $375,000 payment already made, it must pay the company $300,000 no later than one year after closing and $2,420,000 no later than two years after closing.
Gold Standard Ventures Corp.
Gold Standard Ventures Corp., announced assay results from 15 holes drilled at the recently discovered North Dark Star gold deposit and the Main Dark Star deposit on its 100 percent-owned/controlled Railroad-Pinion Project in Nevada's Carlin Trend.
International Game Technology PLC announced that its subsidiary, IGT Global Solutions Corporation would undertake a $15 million expansion to house a new, state-of-the-art instant ticket press at its Lakeland, Fla., facility.
The new servo-controlled TRESU press will increase IGT's printing capacity by approximately 30 percent.
The unemployment rate during December in Reno/Sparks stood at 4.2 percent while Carson stood at 5.3 percent according a report by Nevada's Department of Employment, Training and Rehabilitation.
However, these rates represent declines on 1.3 percent in Reno/Sparks and 1.4 percent in Carson City, respectively.
The eWomenNetwork Reno/Carson/Tahoe Chapter's January event, "Safe to succeed: Accessing your innate brilliance for business," will take place 5 to 7:30 p.m. Wednesday, Feb. 15, at Hidden Valley Country Club, 3575 E. Hidden Valley Drive in Reno. Doors open and networking begins at 4:45 p.m..
This month's presenter is Gary Salyer, Ph.D., who is the creator of the Succeeding the Rights Way Process.
The evening includes eWomenNetwork's Accelerated Networking dinner and a business expo. No-host wine and beer are available.
Cost for the event is $42.50 for eWomenNetwork members, $52.50 for non-members and $62.50 for late registration beginning February 12.
Vendor tables are available.
For more information or to register for this event, visit http://www.ewomennetwork.com/chapter/reno, or call 775-747-2726.
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