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IBCAP releases 2025 Annual Report highlighting growth, legal wins and technology innovation
IBCAP Lab automation, membership expansion, notable lawsuits and sports rights protection victories underscore a year of progress in the Coalition’s fight against piracy
DENVER, May 29, 2025 (GLOBE NEWSWIRE) -- The International Broadcaster Coalition Against Piracy (IBCAP) has released its 2025 Annual Report, touting the key advancements driven by IBCAP over the past year in addressing piracy worldwide.
“Since our last member meeting in May 2024, IBCAP has expanded its reach by developing proprietary automation software to detect and remove VOD content from pirate IPTV services and set-top boxes – a tool that greatly enhances our ability to remove pirated movies and series,” said Chris Kuelling, executive director of IBCAP. “We also added DIRECTV, NHK and RAI as new members, bringing a major U.S. distributor, and the leading broadcasters from Japan and Italy to our growing coalition. In addition, our teams made major strides enhancing sports piracy enforcement and continuing to hold non-compliant service providers and hosting providers accountable through targeted legal action.”
Report highlights include:
Industry-Leading Advancements in Automation: IBCAP’s engineering team has advanced its industry-leading tools to automate monitoring of STB and IPTV services and issue takedown notices. The latest development, a VOD-focused tool, automatically detects infringing content, captures evidence of U.S.-based violations and sends DMCA takedown notices to infringing services, CDNs and hosting companies, leading to the global removal of illegal streams. Looking ahead, IBCAP plans to offer this cutting-edge automation technology to non-members and other organizations to expand its impact across the industry and globally.
Membership Expansion: New members, DIRECTV, NHK and RAI extend IBCAP’s protection to focus on mainstream American content and the Japanese and Italian-language markets.
Litigation against CDNs and Hosting Providers: IBCAP coordinated significant legal actions against hosting providers Virtual Systems and Innetra. These complaints followed a $3 million settlement with Datacamp Limited, which has led to increased compliance with IBCAP takedown notices and a measurable rise in pirate stream removal rates.
Sports Piracy Enforcement: IBCAP continues to have an industry-leading deterrent and takedown effect on cricket piracy.
During the IPL 2024 tournament, IBCAP disrupted 6,723 streams and more than 2.1 million views on Facebook Live streams worldwide.
During the 2024 T20 Cricket World Cup tournament, the IBCAP lab removed 3783 streams and disrupted more than 1 million views on Facebook Live streams worldwide.
Action Against Major Pirate Services: IBCAP coordinated the filing of a lawsuit in April 2025 against Lemo TV and Kemo IPTV.
Related pirate services accounted for nearly 30% of all unauthorized streams detected on STB and IPTV services monitored by the IBCAP lab in the first quarter of 2025.
The lawsuit seeks more than $25 million in statutory damages and a broad injunction to shut down this service.
The IBCAP 2025 Annual Report can be found here. For more information about IBCAP membership, visit https://www.ibcap.org/membership.
About IBCAP
International Broadcaster Coalition Against Piracy, Inc. (IBCAP) is a coalition of leading international and U.S. content owners, broadcasters, and distributors representing more than 220 television channels from the U.S. and around the world. As the largest anti-piracy organization focused on illicit services offering multicultural content, the nonprofit organization proactively monitors and identifies unauthorized video services, collects evidence, and assists with legal actions and criminal investigations against organizations and individuals engaging in pirate activities. IBCAP coordinates with government agencies and law enforcement both in the U.S. and abroad, reports suspected infringers to the appropriate authorities, initiates investigations, and promotes the prosecution of persons or companies that participate in the illegal distribution of its members’ video content. More information is available at www.IBCAP.org. Follow us on LinkedIn.
Contact: Kendra WesterkampC4Spark for IBCAPKendra@C4Spark.com+1-720-261-2300
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New pork campaign and market conditions poised to revive domestic demand
Export market risks highlight opportunity for the pork industry to reconnect with US consumers
DENVER, May 29, 2025 (GLOBE NEWSWIRE) -- The U.S. pork industry is charting a new course to engage with American consumers and boost domestic demand as trade policy and global market dynamics threaten the pace of export sales. Pork producers have relied heavily on global demand in recent years. Nearly one-quarter of all U.S. pork was sold to international buyers in 2024. Continued success in the export market hangs in the balance as China trims imports of U.S. goods and trade conflicts curb global sales among other key buyers.
While global pork consumption has edged upward, U.S. per capita consumption has been flat for more than 50 years at 50 lbs. on average, according to the USDA. That trails annual beef and chicken consumption, which exceeds 60 lbs. and 100 lbs., respectively. The pork industry is aiming to gain ground with a new consumer marketing program, “Taste What Pork Can Do.” Focusing on flavor and featuring a wide variety of recipes and convenient cooking techniques, the campaign encourages U.S. consumers to reimagine the possibilities of pork for at-home meals.
According to a new report from CoBank’s Knowledge Exchange, the campaign represents the beginning of what could be a “new pork” on U.S. consumers’ plates. The next opportunity could be reevaluating hog genetics in an effort to match the campaign’s emphasis on flavor. Taste continues to be one of the top drivers influencing consumer meat purchases, as evidenced by sales of the most popular pork product, bacon.
“If the U.S. consumer is to truly reimagine pork, some fairly significant changes may be required over time,” said Brian Earnest, lead animal protein economist with CoBank. “Recalibrating the genetic hog makeup and showcasing different cuts at retail and through food service could be in order. Utilizing pork in a new way could help find the pork equivalent of a beef T-bone or rib-eye for a richly flavored, premium-priced offering.”
The industry’s consolidation era twenty years ago sent the U.S. hog sector down a path of value, efficiency and appeasing comparisons to “other categories” of meat. The lean hog formulation adopted by the broad bulk of U.S. producers has largely influenced the pork U.S. consumers see today. However, consumers’ views regarding fat content have evolved and health concerns about fat have subsided. A refreshed approach to hog genetics that focuses on fat content, flavor and consumer preferences over production efficiencies may be necessary to meaningfully grow domestic demand.
Bacon has been the most popular pork item in the U.S. for the last 10 years, with strong demand supporting higher pricing. Sausage-type items and pizza toppings like pepperoni have also gained strong consumer demand. Values for pork trim used in sausage making have climbed accordingly. Historically, averaging less than $40 per cwt., pork trim for sausage surged to more than $80 per cwt. for the first time in 2022.
Unlike chicken breasts and beef burgers, U.S. consumers frequently find it difficult to cook “the perfect pork chop.” While pork loins and hams offer exceptional value, they lack the benefit of convenience compared to smaller pork cuts. New pork product variations that offer both convenience and enhanced flavor may be key to helping consumers reimagine pork.
Despite the challenges associated with broadening pork’s appeal with domestic consumers, Earnest said the industry is in a strong position. “With supplies ample and wallets tight, pork has never been in a better position to grow its market share with U.S. consumers. Pork is on a new path and it’s an exciting time for the industry.”
Read the report, Pork’s Opportunity to Reconnect with U.S. Consumers Has Never Been Bigger.
About CoBank
CoBank is a cooperative bank serving vital industries across rural America. The bank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states. The bank also provides wholesale loans and other financial services to affiliated Farm Credit associations serving more than 78,000 farmers, ranchers and other rural borrowers in 23 states around the country.
CoBank is a member of the Farm Credit System, a nationwide network of banks and retail lending associations chartered to support the borrowing needs of U.S. agriculture, rural infrastructure and rural communities. Headquartered outside Denver, Colorado, CoBank serves customers from regional banking centers across the U.S. and also maintains an international representative office in Singapore.
CONTACT: Corporate Communications
CoBank
800-542-8072
news@cobank.com
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Invest529 Launches Smart Start Giveaway to Celebrate 529 Day with $25 Contribution
One-day-only offer on May 29 encourages families to start saving early for education
Richmond, Va., May 29, 2025 (GLOBE NEWSWIRE) -- The cost of higher education is on the rise, and Invest529 is helping families across the country take the first step toward saving for their children’s future with its “Smart Start”Giveaway.
For one day only (May 29), get a $25 contribution when you open a new Invest529 account.
May 29 is recognized nationally as 529 Day, a chance to remind people of how important it is to plan for a loved one’s higher education costs and to raise awareness of the benefits 529 accounts offer in helping individuals and families save.
Visit Invest529.com for more information about Invest529 and to read the "Smart Start" Giveaway official terms and conditions.
About Invest529℠:Invest529 helps make education more accessible and affordable for families and individuals. With more than $107.4 billion in assets under management and 3.1 million accounts as of April 30, 2025, Invest529 is the largest 529 plan in the country. The program includes two flexible, affordable, tax-advantaged options—Invest529 and CollegeAmerica®—as well as the early commitment scholarship program, SOAR Virginia®, all designed to support students of any age in achieving their higher education goals. To learn more about education savings options from Invest529, visit Invest529.com or call 1-888-567-0540 to request program materials. These materials include information about Virginia529 programs, including investment objectives, risks, charges, expenses and other important details. Please read them carefully before investing. All investments involve risk, including the possible loss of principal. Invest529 recommends that prospective participants consult with a financial, tax, or legal advisor regarding the implications of opening an account. For non-Virginia residents: Before investing, consider whether your or your beneficiary’s home state offers state tax or other benefits—such as financial aid, scholarship opportunities, or creditor protection—that may only be available through that state’s qualified tuition program. ©2025 Invest529. All rights reserved.
CONTACT: Devon Copeland
Commonwealth Savers
804-225-2452
dcopeland@commonwealthsavers.com
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Free Antibody Validation: Boster Bio Launches New Service to Advance Research Reproducibility
Pleasanton, May 29, 2025 (GLOBE NEWSWIRE) -- Pleasanton, California -
With Boster Bio's latest promotion, scientists globally enjoy free access to antibody validation to boost research accuracy.
Boster Biological Technology, a leading provider of high-quality antibodies and ELISA kits, has announced a new promotion offering free antibody validation for its PicoBand antibody line. This initiative is designed to help scientists worldwide enhance research reliability by eliminating guesswork in antibody selection, allowing researchers to verify antibody specificity before purchase.
The PicoBand product line includes ultra-sensitive antibodies optimized for Western blotting (WB), immunohistochemistry (IHC), flow cytometry, and other key applications. Through this free Picoband antibody validation program, researchers can receive validation data for their antibody of interest, improving reproducibility in life sciences research.
"For decades, scientists have been forced to gamble on antibodies that might not work, leading to a waste of time, money, and resources. With our free PicoBand validation program, we're flipping the script. Not only can researchers now verify antibody performance before they commit, but submitting a request takes only two minutes and saves researchers days in lab work," said CJ Xia, founder of Boster Bio.
Antibodies are critical tools in biomedical research, but inconsistent quality and lack of validation have led to reproducibility challenges. Boster Bio's free antibody validation program addresses this issue by providing documented proof of antibody performance without expending time and resources in the lab. Each batch undergoes strict quality control and is presented in detailed datasheets with experimental results.
Boster Bio's validation service addresses a longstanding industry issue—the inconsistent quality of antibodies. Researchers can choose from over 8,000 PicoBand antibodies, with the option to request validation on over 500 sample types, including human, mouse, rat, monkey, and zebrafish. Each antibody undergoes multi-application validation, covering WB, IHC, IF, ELISA, flow cytometry, and immunoprecipitation to ensure compatibility with diverse experimental needs.
This initiative underscores Boster Bio's commitment to transparency, accountability, and reproducibility in life sciences research, reinforcing its position as an innovator in reliable antibody production. Unlike typical vendors, Boster Bio's no-strings-attached policy allows researchers to verify performance data upfront, eliminating guesswork and costly trial-and-error purchases.
For more information, visit the website at https://www.bosterbio.com/
Founded in 1993, Boster Biological Technology has built a reputation for high-affinity antibodies, ELISA kits, and protein analysis tools, products widely used globally in academic, pharmaceutical, and biotech research. Promoting the free antibody validation aligns with Boster Bio's mission to support the scientific community with dependable reagents, providing clients with antibody validation before purchase.
For decades, scientists have been forced to gamble hundreds or thousands of dollars on antibodies that might not even work and had to rely on reputation, citations, and gut instinct to pick reagents, resulting in unreliable data, weeks of wasted time, and little support.
"At Boster Bio, our mission is to move the antibody industry into its next stage. We're not offering a free sample, but starting a movement. It's a fundamental rethinking of what it means to support scientific discovery. When vendors take responsibility for antibody performance upfront, scientists can focus on what matters most—discovery," added Xia.
This initiative underscores the company's commitment to transparency and reproducibility in life sciences. By providing free Picoband antibody validation, Boster Bio empowers labs to conduct experiments confidently, reducing wasted resources and accelerating discoveries. Scientists worldwide can leverage this program to access high-affinity, batch-consistent antibodies backed by documented proof of specificity.
Specializing in antibodies, ELISA kits, and protein research tools, Boster Biological Technology is committed to delivering high-quality products. With the recent unveiling of its manifesto for antibody accountability, Boster Bio is offering free antibody validation services to meet the client's experiment settings. More than just a promotion, this program is designed to raise industry standards, redefining how antibodies are evaluated and adopted to ensure continued scientific rigor and customer success.
About the Company:
Boster Biological Technology is a global leader in antibody production and immunoassay solutions, serving academic, pharmaceutical, and biotech researchers. Based in Pleasanton, CA, the company contributes significantly to accelerating scientific discovery through innovative reagents and exceptional service. Boster Bio is committed to transparency and reproducibility, offering free antibody validation in WB, IHC, IF, flow cytometry, IP, and ELISA, ensuring researchers receive fully characterized reagents.
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For more information about Boster Biological Technology, contact the company here:
Boster Biological TechnologyCJ Xia(888) 466-3604sales@bosterbio.com3942 Valley Ave, Pleasanton, CA 94566, USA
CONTACT: CJ Xia
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The Gross Law Firm Reminds NET Power, Inc. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of June 17, 2025 – NPWR
NEW YORK, May 29, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of NET Power, Inc. (NYSE: NPWR).
Shareholders who purchased shares of NPWR during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/net-power-inc-loss-submission-form/?id=150528&from=3
CLASS PERIOD: June 9, 2023 to March 7, 2025
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Net Power was unlikely to complete its first utility-scale plant, Project Permian, on schedule and the project was likely to be significantly more expensive than defendants had represented, because of, inter alia, supply chain issues and numerous site- and region-specific challenges; (ii) accordingly, defendants’ projections regarding the time and capital needed to complete Project Permian were unrealistic; (iii) the increased time and capital needed to complete Project Permian were likely to have a significant negative impact on the Company’s business and financial results; and (iv) as a result, defendants’ public statements were materially false and misleading at all relevant times.
DEADLINE: June 17, 2025 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/net-power-inc-loss-submission-form/?id=150528&from=3
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of NPWR during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is June 17, 2025. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:The Gross Law Firm15 West 38th Street, 12th floorNew York, NY, 10018Email: dg@securitiesclasslaw.com Phone: (646) 453-8903
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Class Action Filed Against Strategy Incorporated (MSTR) Seeking Recovery for Investors – Contact The Gross Law Firm
NEW YORK, May 29, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Strategy Incorporated (NASDAQ: MSTR).
Shareholders who purchased shares of MSTR during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/strategy-incorporated-loss-submission-form/?id=150526&from=3
CLASS PERIOD: April 30, 2024 to April 4, 2025
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) the anticipated profitability of the Company’s bitcoin-focused investment strategy and treasury operations was overstated; (ii) the various risks associated with bitcoin’s volatility and the magnitude of losses Strategy could recognize on the value of its digital assets following its adoption of ASU 2023-08 were understated; and (iii) as a result, defendants’ public statements were materially false and misleading at all relevant times.
DEADLINE: July 15, 2025 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/strategy-incorporated-loss-submission-form/?id=150526&from=3
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of MSTR during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is July 15, 2025. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:The Gross Law Firm15 West 38th Street, 12th floorNew York, NY, 10018Email: dg@securitiesclasslaw.com Phone: (646) 453-8903
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The Gross Law Firm Reminds Shareholders of a Lead Plaintiff Deadline of July 8, 2025 in Compass Diversified Lawsuit – CODI
NEW YORK, May 29, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Compass Group Diversified Holdings, LLC (NYSE: CODI).
Shareholders who purchased shares of CODI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/compass-diversified-loss-submission-form/?id=150530&from=3
CLASS PERIOD: May 1, 2024 to May 7, 2025
ALLEGATIONS: According to the complaint, throughout the class period, defendants failed to disclose to investors that Compass lacked effective internal controls over its financial reporting; that Compass failed to disclose critical information regarding Lugano Holding, Inc. (“Lugano”) which kept undisclosed financing arrangements and exhibited irregularities in its sales, cost of sales, inventory and accounts receivable; and that, as a result of the foregoing, defendants’ positive statements about the Company’s financial reporting were materially misleading. The truth emerged on May 7, 2025, after the market closed, the Company announced that its financial statements for fiscal 2024 could no longer be relied upon due to an ongoing internal investigation into its subsidiary, Lugano. Specifically, Compass reported that its Audit Committee launched an investigation over “concerns about how Lugano was potentially financing inventory.” The Company also announced that it intends to delay the filing of its first quarter 2025 Form 10-Q. Further, effective May 7, 2025, Lugano’s founder and CEO, Moti Ferder, resigned from Lugano and will not receive any severance compensation. Following this news, the price of Compass’ common stock declined dramatically. From a closing market price of $17.25 per share on May 7, 2025 to $6.55 per share on May 8, 2025.
DEADLINE: July 8, 2025 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/compass-diversified-loss-submission-form/?id=150530&from=3
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of CODI during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is July 8, 2025. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:The Gross Law Firm15 West 38th Street, 12th floorNew York, NY, 10018Email: dg@securitiesclasslaw.com Phone: (646) 453-8903
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The Gross Law Firm Reminds Krispy Kreme, Inc. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of July 15, 2025 – DNUT
NEW YORK, May 29, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Krispy Kreme, Inc. (NASDAQ: DNUT).
Shareholders who purchased shares of DNUT during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/krispy-kreme-inc-loss-submission-form/?id=150531&from=3
CLASS PERIOD: February 25, 2025 to May 7, 2025
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) demand for Krispy Kreme products declined materially at McDonald’s locations after the initial marketing launch; (2) demand at McDonald’s locations was a driver of declining average sales per door per week; (3) the partnership with McDonald’s was not profitable; (4) the foregoing posed a substantial risk to maintaining the partnership with McDonald’s; (5) as a result, the Company would pause expansion into new McDonald’s locations; and (6) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
DEADLINE: July 15, 2025 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/krispy-kreme-inc-loss-submission-form/?id=150531&from=3
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of DNUT during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is July 15, 2025. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:The Gross Law Firm15 West 38th Street, 12th floorNew York, NY, 10018Email: dg@securitiesclasslaw.com Phone: (646) 453-8903
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Wolters Kluwer to acquire global legal software provider Brightflag
PRESS RELEASE
Wolters Kluwer to acquire global legal software provider Brightflag
Alphen aan den Rijn – May 29, 2025 – Wolters Kluwer Legal & Regulatory has signed an agreement to acquire Brightflag, a fast-growing, cloud-based provider of AI-powered legal spend and matter management software, for approximately €425 million in cash. The acquisition will strengthen Wolters Kluwer Legal & Regulatory’s presence among mid-size corporations in the U.S. and Europe. Wolters Kluwer Legal & Regulatory ELM Solutions traditionally serves large corporations and their law firms.
Founded in 2014, Brightflag is an AI-powered legal operations platform designed to streamline matter management, control legal spend, and enhance collaboration between corporate legal departments and outside counsel. The company has 155 full-time employees who will join Wolters Kluwer’s Legal & Regulatory division.
Martin O’Malley, CEO of Wolters Kluwer Legal & Regulatory: “Today’s legal professionals require innovative solutions that drive greater efficiency while optimizing their legal matters and spend. We are excited to welcome Brightflag to Wolters Kluwer, where together we will continue to lead the way in AI-powered legal technology tailored to the evolving demands of corporate legal departments."
Ian Nolan, CEO and Co-Founder of Brightflag: “Since our founding, Brightflag has been committed to revolutionizing legal spend and matter management through AI-driven innovation. Wolters Kluwer shares our vision for leveraging advanced technology to enhance legal operations, and we look forward to working with the Wolters Kluwer Legal & Regulatory team to accelerate the future of legal solutions.”
In 2024, Brightflag revenues increased 36% to reach approximately €22 million (un-audited), and, as of April 2025, the company had attained €27 million of ARR (annual recurring revenue). Brightflag revenues are approximately 95% recurring in nature and approximately 60% from U.S. customers. The acquisition is expected to achieve a return on invested capital (ROIC) at or above Wolters Kluwer’s after tax weighted average cost of capital (8%) in its fifth full year of ownership. In the near term, the acquisition is expected to have an immaterial impact on Wolters Kluwer adjusted earnings. The transaction is subject to customary closing conditions and is expected to be completed in June 2025.
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About Wolters KluwerWolters Kluwer (EURONEXT: WKL) is a global leader in information solutions, software and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services.
Wolters Kluwer reported 2024 annual revenues of €5.9 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,900 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.
Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX, Euro Stoxx 50 and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).
For more information about Wolters Kluwer, please visit: www.wolterskluwer.com or follow us on LinkedIn, Facebook, YouTube and Instagram.
About BrightflagBrightflag’s AI-powered enterprise legal management (ELM) platform provides Chief Legal Officers, General Counsel, and heads of legal operations with visibility into work and spend, tools that improve productivity, and insights needed to operate strategically. Brightflag customers benefit from automatic monthly software updates and a proactive, consultative customer service team whose mission is to make them better month after month and year after year.
Media
Investors/Analysts
Stefan Kloet
Meg Geldens
Associate Director
Vice President
Global Communications
Investor Relations
press@wolterskluwer.com
ir@wolterskluwer.com
m: +31 612 223 657
Forward-looking Statements and Other Important Legal InformationThis report contains forward-looking statements. These statements may be identified by words such as “expect”, “should”, “could”, “shall” and similar expressions. Wolters Kluwer cautions that such forward-looking statements are qualified by certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors which could cause actual results to differ from these forward-looking statements may include, without limitation, general economic conditions; conditions in the markets in which Wolters Kluwer is engaged; conditions created by pandemics; behavior of customers, suppliers, and competitors; technological developments; the implementation and execution of new ICT systems or outsourcing; and legal, tax, and regulatory rules affecting Wolters Kluwer’s businesses, as well as risks related to mergers, acquisitions, and divestments. In addition, financial risks such as currency movements, interest rate fluctuations, liquidity, and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive. Wolters Kluwer disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Elements of this press release contain or may contain inside information about Wolters Kluwer within the meaning of Article 7(1) of the Market Abuse Regulation (596/2014/EU).
Trademarks referenced are owned by Wolters Kluwer N.V. and its subsidiaries and may be registered in various countries.
Attachment
2025.05.29 Wolters Kluwer to acquire global legal software provider Brightflag
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Galantas Report Financial Results for the Quarter Ended March 31, 2025
TORONTO, May 29, 2025 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (the ‘Company’) is pleased to announce its unaudited financial results for the Quarter ended March 31, 2025.
Financial Highlights
Highlights of the first quarter 2025 results, which are expressed in Canadian Dollars, are summarized below:
All figures denominated in Canadian Dollars (CDN$)
Quarter EndedMarch 31
2025
2024
Revenue
$
0
$
0
Cost and expenses of operations
$
(14,935)
$
(17,332)
Loss before the undernoted
$
(14,935)
$
(17,332)
Depreciation
$
(89,792)
$
(106,226)
General administrative expenses
$
(1,087,488)
$
(1,173,035)
Foreign exchange gain (loss)
$
243,500
$
119,127
Unrealized gain / (loss) on derivative fair value adjustment
$
365,290
$
(523,850)
Net (Loss) for the quarter
$
(1,225,116)
$
(653,616)
Working Capital Deficit
$
(17,274,760)
$
(11,290,856)
Cash loss from operating activities before changes in non-cash working capital
$
(51,250)
$
(495,610)
Cash at March 31, 2025
$
729,387
$
1,288,200
Sales revenue for the quarter ended March 31, 2025 amounted to $ Nil compared to revenue of $ Nil for the quarter ended March 31, 2024. Shipments of concentrate commenced during the third quarter of 2019. Concentrate sales provisional revenues totalled US$ Nil for the first quarter of 2025 compared to US $ 207,000 for the first quarter of 2024. Until the mine commences commercial production, the net proceeds from concentrate sales are being offset against development assets.
The Net Loss for the quarter ended March 31, 2025 amounted to $ 1,225,116 (2024: $ 653,616) and the cash outflow from operating activities before changes in non-cash working capital for the quarter ended March 31, 2025 amounted to $51,250 (2024: $432,610).
The Company had a cash balance of $729,387 at March 31, 2025 compared to $1,288,200 at March 31, 2024. The working capital deficit at March 31, 2025 amounted to $17,274,760 compared to a working capital deficit of $11,290,856 at March 31, 2024.
Safety is a high priority for the Company and we continue to invest in safety-related training and infrastructure. The zero lost time accident rate since the start of underground operations continues. Environmental monitoring demonstrates a high level of regulatory compliance.
The detailed results and Management Discussion and Analysis (MD&A) are available on www.sedar.com and www.galantas.com and the highlights in this release should be read in conjunction with the detailed results and MD&A. The MD&A provides an analysis of comparisons with previous periods, trends affecting the business and risk factors.
Qualified PersonThe financial components of this disclosure have been reviewed by Alan Buckley (Chief Financial Officer), the exploration and geological components by Sarah Coulter and the production and permitting components by Brendan Morris (COO), qualified persons under the meaning of NI. 43-101. The information is based upon local production and financial data prepared under their supervision.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including revenues and cost estimates, for the Omagh Gold project. Forward-looking statements are based on estimates and assumptions made by Galantas in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Galantas believes are appropriate in the circumstances. Many factors could cause Galantas’ actual results, the performance or achievements to differ materially from those expressed or implied by the forward looking statements or strategy, including: gold price volatility; discrepancies between actual and estimated production, actual and estimated metallurgical recoveries and throughputs; mining operational risk, geological uncertainties; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign involvement; speculative nature of gold exploration; dilution; competition; loss of or availability of key employees; additional funding requirements; uncertainties regarding planning and other permitting issues; and defective title to mineral claims or property. These factors and others that could affect Galantas’s forward-looking statements are discussed in greater detail in the section entitled “Risk Factors” in Galantas’ Management Discussion & Analysis of the financial statements of Galantas and elsewhere in documents filed from time to time with the Canadian provincial securities regulators and other regulatory authorities. These factors should be considered carefully, and persons reviewing this press release should not place undue reliance on forward-looking statements. Galantas has no intention and undertakes no obligation to update or revise any forward-looking statements in this press release, except as required by law.
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Enquiries
Galantas Gold Corporation Mario Stifano – CEO Email: info@galantas.com Website: www.galantas.com Telephone: 001 416 453 8433
Grant Thornton UK LLP (Nomad)Philip Secrett, Harrison Clarke, Elliot Peters:Telephone: +44(0)20 7383 5100
SP Angel Corporate Finance LLP (AIM Broker) David Hignell, Charlie Bouverat (Corporate Finance)Grant Barker (Sales and Broking)Telephone: +44(0)20 3470 0470
The post Galantas Report Financial Results for the Quarter Ended March 31, 2025 appeared first on ForexTV.
Unaudited interim results for the three-month period ended 31 March 2025
Unaudited interim results for the three-month period ended 31 March 2025
Serabi Gold plc (“Serabi” or the “Company”) (AIM:SRB, TSX:SBI, OTCQX:SRBIF), the Brazilian focused gold mining and development company, is pleased to release its unaudited results for the three-month period ended 31 March 2025 (all financial amounts are expressed in U.S. dollars unless otherwise indicated).
HIGHLIGHTS
Gold production for Q1-2025 of 10,013 ounces (Q1-2024: 9,007 ounces).
Cash held at 31 March 2025 of $26.5 million (31 December 2024: $22.2 million).
EBITDA for the three-month period of $12.4 million (Q1-2024: $4.7 million).
Post-tax profit for the three-month period of $8.8 million (Q1-2024: $3.6 million).
Profit per share of 11.58 cents (Q1-2024: 4.80 cents).
Net cash inflow from operations for the three-month period (after mine development expenditure of $1.6 million and pre operating costs of $1.5 million) of $7.1 million (Q1-2024: $0.3 million inflow after mine development expenditure and pre operating costs of $1.6 million).
Average gold price of $2,908 per ounce received on gold sales during the three-month period (Q1-2024: $2,081).
Cash Cost for the quarter of $1,269 per ounce (Q1-2024: $1,461 per ounce).
All-In Sustaining Cost for the three-month period to March 2025 of $1,636 per ounce (Q1-2024: $1,859 per ounce).
The full interim statements together with commentary can be accessed on the Company’s website using the following LINK.
Colm Howlin, CFO, Commented
“Q1 2025 marked a strong start to the year, continuing the positive momentum from H2-2024. Gold production for the quarter totalled 10,013 ounces, representing an 11% increase on Q1-2024. This was driven by higher feed grades at both Palito and Coringa, supported by the first full quarter of operations at the Coringa classification plant.
The strong operational performance contributed to cash generation of $4.2 million in the quarter, increasing the Group’s cash position to $26.5 million at 31 March 2025, up from $22.2 million at 31 December 2024. The average realised gold price for the quarter was $2,908 per ounce, compared to $2,407 per ounce for the fiscal 2024 year.
We also commenced our 2025 exploration programme, with $9 million allocated for the year and a similar commitment anticipated for 2026. Drilling activity is now underway at both Palito and Coringa. Early drill results from the programme have been encouraging. We look forward to providing an exploration update in the oncoming weeks.”
Overview of the financial results
Reported revenues and costs reflect the ounces sold in each period and as a result total revenues and costs for the three-month period are higher than the corresponding period in 2024. In Q1-2025, the Group reported revenue and operating costs related to the sale of 9,699 ounces in the period (10,013 ounces produced). This compares to sales reported of 9,007 ounces in Q1-2024.
Whilst the Company benefited from an improving gold price throughout the first quarter of 2025, the most material uplift occurred only in March, with the USD gold price rising to $2,996 and averaging $2,908 for the quarter, compared to a current spot price of approximately $3,300 per ounce. This contributed to a Q1 average gold price in Brazilian Real of BRL17,018. In Q1-2025, the average USD gold price increased by 18% in comparison to Q1-2024 ($2,908 in Q1-2025 vs $2,469 in Q1-2024).
BRL strengthened during Q1-2025, with the USD:BRL rate moving from 6.19 at 31 December 2024 to 5.74 at 31 March 2025. This strengthening limited the extent to which the stronger USD gold price translated into local currency margins.
The Group delivered a strong start to 2025 with an 11% increase in production year-on-year, driven by significant grade improvements at both Palito (+32%) and Coringa (+8%). Coringa’s first full quarter of classification plant operations contributed meaningfully to the grade uplift, while development at new zones across both sites and a ramped-up $9 million brownfield exploration programme with a focus on doubling our resource at Palito Complex and Coringa, position the Group well for continued growth.
Cash balances at the end of March 2025 were $26.5 million, in comparison to the cash balances at the end of December 2024 of $22.2 million. On 6 January 2025 the Company fully repaid its $5.0 million unsecured loan arrangement with Itau Bank in Brazil which carried an interest coupon of 8.47 per cent. On 22 January 2025, the Group secured a new $5.0 million loan from Banco Santander. The Banco Santander loan is repayable as a bullet payment on 21 January 2026 and carries an interest coupon of 6.16%. The Company had a net cash balance at the end of Q1-2025 (after interest bearing loans and lease liabilities) of $20.9 million (31 December 2024: net cash $16.2 million).
Key Financial Information
SUMMARY FINANCIAL STATISTICS FOR THE THREE-MONTHS ENDING 31 MARCH 2025
3 months to31 March 2025$(unaudited)
3 months to31 March 2024$(unaudited)
Revenue
27,593,363
20,246,400
Cost of sales
(13,138,165)
(13,556,599)
Gross operating profit
14,455,198
6,689,801
Administration and share based payments
(2,006,445)
(1,984,990)
EBITDA
12,448,753
4,704,811
Depreciation and amortisation charges
(1,834,773)
(1,046,561)
Operating profit before finance and tax
10,613,980
3,658,250
Profit after tax
8,769,759
3,637,563
Earnings per ordinary share (basic)
11.58c
4.80c
Average gold price received ($/oz)
$2,908
$2,081
As at31 March 2025$(unaudited)
As at31 December 2024$(audited)
Cash and cash equivalents
26,504,939
22,183,049
Net funds (after finance debt obligations)
21,168,759
16,341,245
Net assets
120,008,729
104,181,654
Cash Cost and All-In Sustaining Cost (“AISC”)
3 months to 31 March 2025
3 months to 31 March 2024
12 months to 31 December 2024
Gold production for cash cost and AISC purposes (ounces)
10,013
9,007
37,520
Total Cash Cost of production (per ounce)
$1,269
$1,461
$1,326
Total AISC of production (per ounce)
$1,636
$1,859
$1,700
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018.
The person who arranged for the release of this announcement on behalf of the Company was Andrew Khov, Vice President, Investor Relations & Business Development.
Enquiries
SERABI GOLD plcMichael Hodgson t +44 (0)20 7246 6830Chief Executive m +44 (0)7799 473621
Colm Howlin Chief Financial Officer m +353 89 6078171
Andrew Khov m +1 647 885 4874Vice President, Investor Relations & Business Development e contact@serabigold.com
www.serabigold.com
BEAUMONT CORNISH LimitedNominated Adviser & Financial AdviserRoland Cornish / Michael Cornish t +44 (0)20 7628 3396
PEEL HUNT LLPJoint UK BrokerRoss Allister / Georgia Langoulant t +44 (0)20 7418 9000
TAMESIS PARTNERS LLPJoint UK BrokerCharlie Bendon/ Richard Greenfield t +44 (0)20 3882 2868
CAMARCOFinancial PR - EuropeGordon Poole / Emily Hall t +44 (0)20 3757 4980
HARBOR ACCESS Financial PR – North AmericaJonathan Patterson / Lisa Micali t +1 475 477 9404
Forward-looking statementsCertain statements in this announcement are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ‘‘believe’’, ‘‘could’’, “should” ‘‘envisage’’, ‘‘estimate’’, ‘‘intend’’, ‘‘may’’, ‘‘plan’’, ‘‘will’’ or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements.
Qualified Persons StatementThe scientific and technical information contained within this announcement has been reviewed and approved by Michael Hodgson, a Director of the Company. Mr Hodgson is an Economic Geologist by training with over 35 years' experience in the mining industry. He holds a BSc (Hons) Geology, University of London, a MSc Mining Geology, University of Leicester and is a Fellow of the Institute of Materials, Minerals and Mining and a Chartered Engineer of the Engineering Council of UK, recognizing him as both a Qualified Person for the purposes of Canadian National Instrument 43-101 and by the AIM Guidance Note on Mining and Oil & Gas Companies dated June 2009.
NoticeBeaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.
Neither the Toronto Stock Exchange, nor any other securities regulatory authority, has approved or disapproved of the contents of this news release.
See www.serabigold.com for more information and follow us on X @Serabi_Gold
The following information, comprising, the Income Statement, the Group Balance Sheet, Group Statement of Changes in Shareholders’ Equity, and Group Cash Flow, is extracted from the unaudited interim financial statements for the three months to 31 March 2025.
Statement of Comprehensive IncomeFor the three-month period ended 31 March 2025.
For the three months ended31 March
2025
2024
(expressed in US$)
Notes
(unaudited)
(unaudited)
CONTINUING OPERATIONS
Revenue (from continuing operations)
27,593,363
20,246,400
Cost of sales
(13,138,165)
(13,556,599)
Depreciation and amortisation charges
(1,834,773)
(1,046,561)
Total cost of sales
(14,972,938)
(14,603,160)
Gross profit
12,620,425
5,643,240
Administration expenses
(1,978,239)
(1,942,740)
Share-based payments
(67,714)
(53,883)
Gain on disposal of fixed assets
39,508
11,633
Operating profit
10,613,980
3,658,250
Other income – exploration receipts
2
—
339,854
Other expenses – exploration expenses
2
—
(312,518)
Foreign exchange (loss)/gain
70,426
(34,566)
Finance expense
3
(110,974)
(174,605)
Finance income
3
206,078
141,555
Profit before taxation
10,779,510
3,617,970
Income and other taxes
4
(2,009,751)
19,593
Profit after taxation(1)
8,769,759
3,637,563
Other comprehensive income (net of tax)
Exchange differences on translating foreign operations
6,989,602
(1,780,928)
Total comprehensive profit for the period(1)
15,759,361
1,856,635
Profit per ordinary share (basic)
5
11.58c
4.80c
Profit per ordinary share (diluted)
5
11.58c
4.80c
(1) The Group has no non-controlling interest and all profits are attributable to the equity holders of the Parent Company
Balance Sheet as at 31 March 2025
(expressed in US$)
As at31 March 2025 (unaudited)
As at31 March 2024 (unaudited)
As at31 December 2024(audited)
Non-current assets
Deferred exploration costs
21,710,728
20,075,458
18,839,836
Property, plant and equipment
60,650,590
52,662,606
53,593,723
Right of use assets
4,957,791
5,006,117
4,287,020
Taxes receivable
5,396,180
3,734,309
6,246,352
Deferred taxation
2,532,594
1,736,077
1,878,081
Total non-current assets
95,247,883
83,214,567
84,845,012
Current assets
Inventories
15,649,258
13,999,674
13,115,648
Trade and other receivables
2,841,707
4,024,896
2,533,450
Prepayments and accrued income
3,553,485
3,181,024
2,220,463
Cash and cash equivalents
26,504,939
11,056,317
22,183,049
Total current assets
48,549,389
32,261,911
40,052,610
Current liabilities
Trade and other payables
12,772,721
7,808,639
9,695,560
Interest bearing liabilities
5,336,180
5,689,805
5,841,804
Accruals
462,371
401,939
419,493
Total current liabilities
18,571,272
13,900,383
15,956,857
Net current assets
29,978,117
18,361,528
24,095,753
Total assets less current liabilities
125,226,000
101,576,095
108,940,765
Non-current liabilities
Trade and other payables
1,928,799
4,249,115
2,809,243
Provisions
3,037,979
2,568,287
1,839,916
Interest bearing liabilities
250,493
56,126
109,952
Total non-current liabilities
5,217,271
6,873,528
4,759,111
Net assets
120,008,729
94,702,567
104,181,654
Equity
Share capital
11,213,618
11,213,618
11,213,618
Share premium reserve
36,158,068
36,158,068
36,158,068
Option reserve
289,327
229,456
221,613
Other reserves
20,110,100
16,708,285
19,486,684
Translation reserve
(71,470,163)
(63,561,669)
(78,459,765)
Retained surplus
123,707,779
92,954,809
115,561,436
Equity shareholders’ funds
120,008,729
94,702,567
104,181,654
The interim financial information has not been audited and does not constitute statutory accounts as defined in Section 434 of the Companies Act 2006. Whilst the financial information included in this announcement has been compiled in accordance with International Financial Reporting Standards (“IFRS”) this announcement itself does not contain sufficient financial information to comply with IFRS. The Group statutory accounts for the year ended 31 December 2024 prepared in accordance with international accounting standards in conformity with the requirements of the Companies Act 2006 will be filed with the Registrar of Companies before 30 June 2025. The auditor’s report on these accounts was unqualified and did not contain a statement under Section 498 (2) or 498 (3) of the Companies Act 2006.
Statements of Changes in Shareholders’ EquityFor the three-month period ended 31 March 2025
(expressed in US$)
(unaudited)
Sharecapital
Sharepremium
Share option reserve
Other reserves (1)
Translation reserve
Retained Earnings
Total equity
Equity shareholders’ funds at 31 December 2023
11,213,618
36,158,068
175,573
15,960,006
(61,780,741)
91,065,525
92,792,049
Foreign currency adjustments
—
—
—
—
(1,780,928)
—
(1,780,928)
Profit for the period
—
—
—
—
—
3,637,563
3,637,563
Total comprehensive income for the period
—
—
—
—
(1,780,928)
3,637,563
1,856,635
Transfer to taxation reserve
—
—
—
748,279
—
(748,279)
—
Share option expense
—
—
53,883
—
—
—
53,883
Equity shareholders’ funds at 31 March 2024
11,213,618
36,158,068
229,456
16,708,285
(63,561,669)
93,954,809
94,702,567
Foreign currency adjustments
—
—
—
—
(14,898,096)
—
(14,898,096)
Profit for the period
—
—
—
—
—
24,182,155
24,182,155
Total comprehensive income for the period
—
—
—
—
(14,898,096)
24,182,155
9,284,059
Transfer to taxation reserve
—
—
—
2,778,399
—
(2,778,399)
—
Share based incentives lapsed in period
—
—
(202,871)
—
—
202,871
—
Share based incentive expense
—
—
195,028
—
—
—
195,028
Equity shareholders’ funds at 31 December 2024
11,213,618
36,158,068
221,613
19,486,684
(78,459,765)
115,561,436
104,181,654
Foreign currency adjustments
—
—
—
—
6,989,602
—
6,989,602
Profit for the period
—
—
—
—
—
8,769,759
8,769,759
Total comprehensive income for the period
—
—
—
—
6,989,602
8,769,759
15,759,361
Transfer to taxation reserve
—
—
—
623,416
—
(623,416)
—
Share option expense
—
—
67,714
—
—
—
67,714
Equity shareholders’ funds at 31 March 2025
11,213,618
36,158,068
289,327
20,110,100
(71,470,163)
123,707,779
120,008,729
(1) (1) Other reserves comprise a merger reserve of US$361,461 and a taxation reserve of US$19,748,639 (31 December 2024: merger reserve of US$361,461 and a taxation reserve of US$19,125,223).
Condensed Consolidated Cash Flow StatementFor the three-month period ended 31 March 2025
For the three monthsended31 March
2025
2024
(expressed in US$)
(unaudited)
(unaudited)
Operating activities
Post tax profit for period
8,769,759
3,637,563
Depreciation – plant, equipment and mining properties
1,834,773
1,046,561
Net financial (income)/expense
(165,530)
67,616
(Gain)/loss on asset disposals
(39,508)
(11,633)
Provision for taxation
2,009,751
(19,593)
Share-based payments
67,714
53,883
Taxation paid
(1,931,751)
(15,354)
Interest paid
(380,770)
(392,268)
Foreign exchange loss
182,387
67,747
Changes in working capital
Increase in inventories
(1,907,662)
(349,744)
(Increase)/decrease in receivables, prepayments and accrued income
(1,071,364)
1,881,445
Decrease in payables, accruals and provisions
2,852,038
(686,484)
Net cash inflow from operations
10,219,837
1,900,441
Investing activities
Purchase of property, plant and equipment and assets in construction
(1,601,149)
(438,985)
Mine development expenditure
(1,626,214)
(1,589,627)
Pre-operational project expenditure
(1,535,853)
Geological exploration expenditure
(1,525,508)
(149,584)
Proceeds from sale of assets
49,508
11,908
Interest received
206,078
134,723
Net cash outflow on investing activities
(6,033,138)
(2,031,565)
Financing activities
Receipt of short-term loan
5,000,000
5,000,000
Repayment of short-term loan
(5,153,577)
(5,000,000)
Payment of finance lease liabilities
(141,654)
(255,245)
Net cash outflow from financing activities
(295,231)
(255,245)
Net increase / (decrease) in cash and cash equivalents
3,891,468
(386,369)
Cash and cash equivalents at beginning of period
22,183,049
11,552,031
Exchange difference on cash
430,422
(109,345)
Cash and cash equivalents at end of period
26,504,939
11,056,317
Notes
Basis of preparation
These interim condensed consolidated financial statements are for the three-month period ended 31 March 2025. Comparative information has been provided for the unaudited three-month period ended 31 March 2024 and, where applicable, the audited twelve-month period from 1 January 2024 to 31 December 2024. These condensed consolidated financial statements do not include all the disclosures that would otherwise be required in a complete set of financial statements and should be read in conjunction with the 2024 annual report.The condensed consolidated financial statements for the periods have been prepared in accordance with International Accounting Standard 34 “Interim Financial Reporting” and the accounting policies are consistent with those of the annual financial statements for the year ended 31 December 2024 and those envisaged for the financial statements for the year ending 31 December 2025.
Accounting standards, amendments and interpretations effective in 2024
The Group has not adopted any standards or amendments in advance of their effective date. The following new amendment has been issued by the IASB and is effective for annual periods beginning on or after 1 January 2025:
Amendments to IAS 21 – The Effects of Changes in Foreign Exchange Rates: Lack of ExchangeabilityThe amendments provide guidance for determining the spot exchange rate when exchangeability between two currencies is lacking. They clarify when a currency is considered exchangeable and introduce a methodology for estimating an appropriate exchange rate when necessary. The Group does not expect a material impact on its financial statements from these amendments.No other standards or amendments are expected to be effective in 2025.
Certain new accounting standards and interpretations have been published that are not mandatory for the current period and have not been early adopted. These standards are not expected to have a material impact on the Company’s current or future reporting periods.
These financial statements do not constitute statutory accounts as defined in Section 434 of the Companies Act 2006.
(i) Going concern
At 31 March 2025 the Group held cash of US$26.5 million which represents an increase of US$4.3 million compared to 31 December 2024.
On 7 January 2024, the Group completed a US$5.0 million unsecured loan arrangement with Brazilian bank Itau which carried a fixed interest coupon of 8.47 per cent. The loan was repaid as a bullet payment on 6 January 2025. On 22 January 2025, the Group completed a further US$5.0 million unsecured loan arrangement with a different Brazilian bank (Santander) which carries a fixed interest coupon of 6.16 per cent. This loan is repayable on 16 January 2026.
Management prepares, for Board review, regular updates of its operational plans and cash flow forecasts based on their best judgement of the expected operational performance of the Group and using economic assumptions that the Directors consider are reasonable in the current global economic climate. The current plans assume that during 2025 the Group will continue gold production from its Palito Complex operation as well as increase production from the Coringa mine and will be able to increase gold production to exceed the levels of 2024.
The Directors will limit the Group’s discretionary expenditures, when necessary, to manage the Group’s liquidity.
The Directors acknowledge that the Group remains subject to operational and economic risks and any unplanned interruption or reduction in gold production or unforeseen changes in economic assumptions may adversely affect the level of free cash flow that the Group can generate on a monthly basis. The Directors have a reasonable expectation that, after taking into account reasonably possible changes in trading performance, and the current macroeconomic situation, the Group has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the Financial Statements.
2. Other Income and Expenses
Under the copper exploration alliance with Vale announced on 10 May 2024, the related exploration activities undertaken by the Group under the management of a working committee (comprising representatives from Vale and Serabi), were funded in their entirety by Vale during Phase 1 of the programme. Following the completion of Phase 1, Vale advised the Group, in April 2025, that it did not wish to continue the exploration alliance.
Exploration and development of copper deposits is not the core activity of the Group and further funding beyond the Phase 1 commitment would be required before a judgment could be made as to a project being commercially viable. There is a significant cost involved in developing new copper deposits and it is unlikely that, without the financial support of a partner, the Group would independently seek to develop a copper project in preference to any of its existing gold projects and discoveries. As a result, both the funding received from Vale and the related exploration expenditures has been recognised through the income statement. As this is not a principal business activity of the Group these receipts and expenditures are classified as other income and other expenses.
3. Finance expense and income
3 months ended31 March 2025(unaudited)
3 months ended31 March 2024 (unaudited)
US$
US$
Interest expense on unsecured loan
(79,011)
(141,647)
Interest expense on finance leases
(14,287)
(14,036)
Interest expense on short term trade loan
(17,676)
(18,922)
Total finance expense
(110,974)
(174,605)
Interest income
206,078
134,723
Gain on revaluation of hedging derivatives
—
6,832
Total finance income
206,078
141,555
Net finance (expense)
95,104
(33,050)
4. Taxation
The Group has recognised a deferred tax asset to the extent that the Group has reasonable certainty as to the level and timing of future profits that might be generated and against which the asset may be recovered. The deferred tax liability arising on unrealised exchange gains has been eliminated in the three-month period to 31 March 2025 reflecting the stronger Brazilian Real exchange rate at the end of the period and resulting in deferred tax income of US$466,264 (three months to 31 March 2024 – income of US$674,185).
The Group has also incurred a tax charge in Brazil for the three-month period of US$2,475,989 (three months to 31 March 2024 tax charge - US$654,592).
5. Earnings per Share
3 months ended 31 March 2025(unaudited)
3 months ended 31 March 2024(unaudited)
Profit attributable to ordinary shareholders (US$)
8,769,759
3,637,563
Weighted average ordinary shares in issue
75,734,551
75,734,551
Basic profit per share (US cents)
11.58c
4.80c
Diluted ordinary shares in issue (1)
75,734,551
75,734,551
Diluted profit per share (US cents)
11.58c
4.80c
(1) At 31 March 2025 there were 3,357,649 conditional share awards in issue (31 March 2024 - 2,814,541). These are subject to performance conditions which may or not be fulfilled in full or in part. These CSAs have not been included in the calculation of the diluted earnings per share.
6. Post balance sheet events
There has been no item, transaction or event of a material or unusual nature likely, in the opinion of the Directors of the Company to affect significantly the continuing operation of the entity, the results of these operations, or the state of affairs of the entity in future financial periods.
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SEON Accelerates APAC Growth Amid Rising Demand for Unified Fraud and AML Solutions
SEON to showcase latest fraud prevention and AML innovations at SiGMA Asia
AUSTIN, Texas and SINGAPORE, May 28, 2025 (GLOBE NEWSWIRE) -- SEON, a global leader in digital fraud prevention and compliance, today announced rapid growth across the Asia-Pacific region, driven by increasing demand for its unified, real-time fraud and AML solutions.
New APAC clients such as Salmon Group Ltd, CryptoGaming.com and Forever Network have adopted SEON’s Know Your User (KYU) and Know Your Customer (KYC) capabilities to navigate escalating fraud risks across the region’s complex digital landscape.
To support this momentum, SEON has expanded its team with technical, sales and support specialists in Singapore and Jakarta, providing clients with localized expertise and faster response times.
“APAC presents both extraordinary opportunity and operational complexity,” said Tamas Kadar, Co-founder and CEO, SEON. “The mix of advanced digital economies and rapidly growing markets creates a fragmented risk environment, and legacy point solutions can’t keep pace. Our unified platform delivers real-time visibility and protection across the entire customer journey.”
As digital threats and regulatory requirements grow throughout the region, businesses face mounting pressure to verify identities, manage payment risk and maintain compliance, without compromising user experience. SEON addresses these challenges with an AI-driven platform that combines digital footprint analysis, device intelligence and real-time analytics to detect and prevent fraud proactively.
"SEON has quickly become one of the most effective and user-friendly fraud detection tools we’ve used to date. Its ability to provide real-time insights, coupled with detailed device tracking and risk scoring, has greatly improved how we identify and respond to suspicious activity,” said Pauline Liu, Compliance Officer, TitanFX. “The platform is user-friendly, making it easy for both new and experienced team members to navigate and act swiftly. SEON has already proven to be a smart and dependable solution for our fraud monitoring needs."
"Our regional clients are increasingly prioritizing fraud prevention platforms that can handle APAC's payment complexity and varied identity verification methods," said Troy Nyi Nyi, Senior Vice President and GM, SEON. "The iGaming, fintech and retail sectors in particular are seeking solutions that can operate across multiple jurisdictions without requiring separate tools for each market, which is why they’re turning to SEON.”
SEON will showcase its latest innovations at SiGMA Asia, taking place June 2-4 in Manila (Booth 1082). During the event, Troy Nyi Nyi, Senior Vice President and GM, SEON, will speak on "Beyond Defense: Leveraging Fraud Prevention as a Competitive Edge," sharing practical insights for iGaming and fintech leaders.
About SEONSEON helps risk teams detect and stop fraud and money laundering while ensuring regulatory compliance. By combining real-time digital footprint analysis, device intelligence and AI-driven rules, SEON empowers over 5,000 businesses globally to prevent threats before they occur. With integrated fraud prevention and AML capabilities, SEON operates from Austin, London, Budapest and Singapore. Learn more at seon.io.
MediaPress@seon.io
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CORRECTION — AIP Realty Trust Announces First Quarter 2025 Results
VANCOUVER, British Columbia, May 28, 2025 (GLOBE NEWSWIRE) -- In a release issued earlier today by AIP Realty Trust (TSXV:AIP.U), please note that the year in the headline should read "2025" instead of "2024". The corrected release follows:
AIP Realty Trust (the “Trust” or “AIP Realty”) (TSXV:AIP.U) today announced its financial results for the three months ended March 31, 2025. All dollar amounts are stated in U.S. dollars.
Q1 2025 Highlights
The demand for light industrial flex facilities is continuing to drive rental rate increases, and the Eagle Court property is demonstrating robust leasing momentum. While the Trust aims to minimize vacancies and has been successful in this endeavor, unit turnover provides an opportunity to update suite revenue per square foot and bring it in-line with current market conditions. New leases signed in 2025 at Eagle Court have seen an average 19% increase in suite revenue per square foot.
Investment property revenue was $124,232 for the three months ended March 31, 2025, compared to $151,042 in the same period in 2024, a decrease of $26,810, or 18%. The decline in investment property revenue was mainly due to a decline in parking revenue from a 2024 lease expiration that included a large parking agreement component and normal turnover that resulted in the scheduled vacancy of two units starting in February 2025. Both vacant units were released at higher rates to new tenants that moved in mid-March 2025.
Investment property operating expense for the three months ended March 31, 2025 increased to $64,742, compared to $48,602 for the three months ended March 31, 2025, an increase of $16,140, or 33%. The increase in investment property operating expense was primarily due to the variable nature of maintenance and repair expense, as the Trust took advantage of the scheduled vacancies in the first quarter of 2025 to perform maintenance on its parking lot and property-wide fire system, which resulted in over $14,000 of additional expense in the first quarter of 2025 compared to 2024. As a result, overall investment property net rental income for the three months ended March 31, 2025 was $59,490, compared to $102,440 for the three months ended March 31, 2024, a decline of $42,950, or 42%.
Effective February 12, 2025, the Trust completed a fourth tranche of a non-brokered private placement (the “Financing”) and issued 5,200,000 Preferred Units at a price of $0.50 per Preferred Unit for aggregate gross proceeds of $2,600,000. The Trust paid $160,000 in finder’s fees to a non-related third party in connection with the fourth tranche of the Financing. The Trust intends to use the proceeds of the Financing and Plymouth Transaction for working capital and general corporate purposes.
On March 10, 2025, the Trust entered into a term sheet and mandate letter with a leading US banking institution to serve as the administrative agent and sole lead arranger of a senior first mortgage, secured, interest-only credit facility (the “Facility”). The total Facility will be for $300,000,000, with the initial amount being $100,000,000. The Facility will be subject to an accordion option whereby the Trust shall have the right to increase the Facility by an amount equal to an additional $200,000,000.
Additionally on March 10, 2025, the Trust announced an Off-Balance Sheet Development JV whereby it entered into a non-binding term sheet between the Trust and a significant financial institutional group (the “JV Partner”), pursuant to which the Trust and the JV Partner will form a joint venture entity (the “Joint Venture”), governed by a joint venture agreement to be negotiated by the parties. The Joint Venture will serve as an off-balance sheet development vehicle to construct new AllTrades SIBS facilities across the Sunbelt states, which the Trust will then acquire outright upon completion and leasing stabilization.
Selected Financial Information
Three Months Ended
March 31, 2025
March 31, 2024
Investment property revenue
$
124,232
$
151,042
Investment property operating expenses
(64,742
)
(48,602
)
Investment property net rental income
59,490
102,440
Trust expense
(1,480,425
)
(481,285
)
Fair value adjustment to investment property
91,403
1,375
Net loss and total comprehensive loss
$
(1,329,532
)
$
(377,740
)
March 31, 2025
December 31, 2024
(unaudited)
(audited)
Investment property
$
6,092,924
$
5,992,598
Cash
$
664,650
$
519,601
Project debt (net of debt discount)
$
2,896,346
$
2,920,352
Accounts payable and accrued expenses
$
7,121,233
$
6,670,515
Units outstanding
4,924,448
4,924,448
The foregoing is a summary of selected information for the three months ended March 31, 2025 and 2024 and is qualified in its entirety by, and should be read in conjunction with, the Trust’s condensed interim consolidated financial statements and management discussion and analysis for the three months ended March 31, 2025 and 2024. These documents are available on SEDAR+ at www.sedarplus.com, and on the Trust’s website at www.aiprealtytrust.com.
Related party disclosures
The executive management team of the Trust is the same executive management team as AllTrades.
Outlook and Subsequent Events
Through its agreement with AllTrades, the Trust has been granted an exclusive right to purchase all AllTrades’ completed and leased facilities, as well as any facilities in development. This includes 13 properties subject to forward purchase agreements, including six DFW-area facilities already completed or nearing completion, and seven additional facilities on which development has commenced or is ready to commence. Development on these facilities was funded with equity capital from AllTrades and Trinity Investors, a $7 billion Dallas-based real estate private equity investor. In addition, AllTrades is actively planning the next tranche of facilities in DFW and Houston, TX.
As previously disclosed in March 2024, the Board of Trustees continues to explore the execution of its business plan and relationship with AllTrades and anticipates closing the AllTrades Transaction by the end of the third quarter 2025. The Trust is currently engaged in advanced discussions with several leading banks who have shown interest in serving as lead investment banker of the syndicate members to the Concurrent Financing in connection with the AllTrades Transaction.
About AIP Realty Trust
AIP Realty Trust is an unincorporated, open ended mutual fund trust with a growing portfolio of AllTrades branded SIBS light industrial flex facilities focused on small businesses and the trades and services sectors in the U.S. These properties appeal to a diverse range of small space users, such as contractors, skilled trades, suppliers, repair services, last-mile providers, small businesses and assembly and distribution firms. They typically offer attractive fundamentals including low tenant turnover, stable cash flow and low capex intensity, as well as significant growth opportunities. With an initial focus on the Dallas-Fort Worth market, AIP plans to roll out this innovative property offering nationally. AIP holds the exclusive rights to finance the development of and to purchase all the completed and leased properties built across North America by its development and property management partner, AllTrades Industrial Properties, LLC. For more information, please visit www.aiprealtytrust.com.
For further information from the Trust, contact:Leslie WulfExecutive Chairman(214) 679-5263les.wulf@aiprealtytrust.com
Or
Greg VorwallerChief Executive Officer(778) 918-8262greg.vorwaller@aiprealtytrust.com
Cautionary Statement on Forward-Looking Information
This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of AIP Realty Trust with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding, future acquisitions by the Trust, the ability to obtain regulatory and unitholder approvals and other factors. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the commencement of development on certain of the AllTrades facilities, proposed financing activity, proposed acquisitions, regulatory or government requirements or approvals, the reliability of third-party information and other factors or information. Such statements represent the Trust’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Trust, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward- looking statements. These forward-looking statements are made as of the date hereof and are expressly qualified in their entirety by this cautionary statement. The Trust does not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release is not an offer of securities for sale in the United States. The securities may not be offered or sold in the United States absent registration or an exemption from registration under U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”). The Trust has not registered and will not register the securities under the U.S. Securities Act. The Trust does not intend to engage in a public offering of their securities in the United States.
Source: AIP Realty Trust
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Cyclic Olefin Polymer Market worth $1.54 billion by 2029, at a CAGR of 6.5%, says MarketsandMarkets™
Delray Beach, FL, May 28, 2025 (GLOBE NEWSWIRE) -- The Cyclic Olefin Polymer Market is projected to reach USD 1.54 billion by 2029 from USD 1.12 billion in 2024, at a CAGR of 6.5% during the forecast period, as per the recent study by MarketsandMarkets™. The cyclic olefin polymer (COP) market is growing steadily due to its unique combination of optical clarity, chemical resistance, and mechanical strength, making it a preferred material across multiple industries. COPs offer high transparency, low birefringence, excellent moisture barrier properties, and superior heat resistance, making them ideal for optical lenses, smartphone displays, medical vials, and diagnostic devices. Their low dielectric constant and high thermal stability drive adoption in 5G communication, automotive LiDAR, and advanced electronics. Additionally, COP’s lightweight nature, dimensional stability, and biocompatibility position it as a superior alternative to glass and conventional plastics in pharmaceutical, packaging, and high-performance engineering applications.
The North American copper tube market is undergoing significant change with advancements in technology, regulatory changes, and changing industry needs. Technologically, the market is experiencing a shift toward MicroGroove technology, where smaller-diameter, inner-grooved copper tubes are used to improve the efficiency of heat exchange. The design not only enhances energy efficiency but also allows for the use of natural refrigerants by lowering the total charge of refrigerant needed in systems. In addition, improved manufacturing processes, including extrusion and rolling, have made it possible to manufacture seamless copper tubes with consistent dimensions, which enhance structural strength and optimal performance in HVAC systems.
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Browse in-depth TOC on “Cyclic Olefin Polymer Market”
223 - Market Data Tables 52 – Figures 233 - Pages
List of Key Players in Cyclic Olefin Market:
Mitsui Chemicals, Inc. (Japan)
Polyplastics Co., Ltd. (Japan)
Sumitomo Bakelite Co., Ltd. (Japan)
JSR Corporation (Japan)
Borealis AG (Austria)
Polysciences, Inc. (US)
Biosynth (Switzerland)
Tuoxin Technology (Quzhou) Co., Ltd. (China)
Zeon Corporation (China)
China Petrochemical Development Corporation (China)
Drivers, Opportunities and Challenges in Cyclic Olefin Polymer Market:
Drivers: Growing demand in healthcare and pharmaceuticals industry
Restraint: High production cost of cyclic olefin polymers
Opportunity: Increasing use of cyclic olefin polymers in optical applications
Challenge: Volatility of raw material prices
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Key Findings of the Study:
Copolymer is projected to have the largest market share in 2029
Electrical & electronics segment to have the second highest market share in the cyclic olefin polymer market
Asia Pacific to be the largest market during the forecast period
The cyclic olefin polymer market, by type, is segmented into homopolymers and copolymers. Homopolymers, made from a single type of monomer, provide higher purity, excellent optical clarity, and superior chemical resistance, making them ideal for high-end optical applications, medical devices, and precision electronics. Copolymers, formed by polymerizing two or more monomers, offer greater flexibility, impact resistance, and tailored thermal properties, making them suitable for packaging, automotive components, and high-frequency electronic materials. With rising demand for high-performance materials in advanced technologies, both types are driving market growth across diverse industries.
The cyclic olefin polymer market, by process type is segmented into injection molding, extrusion, blow molding and others. Injection molding enables the production of high-precision optical lenses, medical components, and electronic parts due to its excellent dimensional stability and intricate mold detailing. Extrusion is widely used for films, sheets, and high-barrier packaging as COPs offer superior moisture resistance, clarity, and chemical stability. Blow molding is ideal for pharmaceutical vials, diagnostic containers, and specialty bottles, leveraging COP’s lightweight, impact resistance, and sterility. With growing demand for high-performance polymers in healthcare, electronics, and packaging, these advanced processing methods are expanding COP’s market reach.
The cyclic olefin polymer market, by end-use industry type is segmented into packaging, automotive, healthcare & medical, food & beverages, electrical & electronics, chemicals, opticals and others. In packaging, COPs offer excellent moisture barriers and durability, making them ideal for pharmaceutical vials, food containers, and sterile medical packaging. The automotive sector benefits from COP’s lightweight, low birefringence, and heat resistance, enhancing LiDAR systems, HUDs, and sensor covers. In healthcare & medical, COPs provide biocompatibility, sterilization resistance, and clarity, making them essential for diagnostic devices, syringes, and labware. Food & beverage applications leverage COP’s non-reactivity and superior barrier properties for preserving freshness and extending shelf life. The electrical & electronics industry uses COPs in 5G components, high-frequency circuit boards, and optical films due to their low dielectric constant and high thermal resistance. In chemicals, COP’s solvent resistance and mechanical strength support specialty containers and industrial applications. The optical industry relies on COP’s low birefringence and clarity for camera lenses, displays, and optical films. With increasing demand across these sectors, COPs continue to drive innovation and market expansion.
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The Asia-Pacific region stands out as a major growth hub for the cyclic olefin polymer (COP) market, driven by rapid industrialization, technological advancements, and increasing demand for high-performance materials across various sectors. The region’s expanding healthcare, electronics, automotive, and packaging industries are fueling the adoption of COPs due to their superior optical properties, low moisture absorption, excellent chemical resistance, and high thermal stability. As governments invest in infrastructure and advanced manufacturing, and as multinational companies shift production to Asia, the demand for COPs continues to surge. Additionally, favorable government policies, rising consumer awareness, and increased R&D investments in advanced materials are contributing to market expansion. China, being the largest manufacturing powerhouse in the region, plays a crucial role in the COP market. The country's strong electronics and semiconductor industry is driving the demand for COPs in display panels, optical films, and high-frequency circuit materials. With the rapid expansion of 5G networks, electric vehicles (EVs), and advanced medical technologies, the need for high-performance polymers like COPs is rising significantly. Additionally, China's growing pharmaceutical sector, along with its leadership in drug delivery systems and medical device manufacturing, is accelerating COP adoption in syringes, diagnostic consumables, and biopharmaceutical packaging. The government’s push for domestic innovation and self-sufficiency in high-performance materials further strengthens the COP market. Japan remains a leading innovator in specialty polymers, with established COP manufacturers like Mitsui Chemicals, Zeon Corporation, and JSR Corporation. The country’s advanced medical sector, precision optics industry, and strong semiconductor market create high demand for COP-based materials. Japan’s aging population and its emphasis on high-quality medical devices are fueling COP usage in medical packaging, drug delivery systems, and diagnostic instruments. Additionally, Japan’s dominance in OLED displays and imaging technologies ensures steady demand for low-birefringence and high-transparency COPs in optical applications. The country’s automotive sector, especially in autonomous driving technologies, is also boosting the use of COPs in LiDAR sensors and vehicle lighting systems. India is emerging as a strong market for COPs, particularly in pharmaceuticals, medical devices, and sustainable packaging. The country’s booming pharmaceutical industry, driven by rising healthcare investments, regulatory reforms, and increasing demand for high-quality drug packaging, has led to greater adoption of COPs in vials, pre-filled syringes, and diagnostic devices. India’s expanding food & beverage sector, combined with a shift toward sustainable and high-barrier packaging materials, is further propelling the demand for COP-based packaging solutions. Additionally, India’s Make in India initiative and government incentives for electronics manufacturing are supporting the growth of COP applications in consumer electronics and high-performance polymers for electrical components. South Korea, home to global electronics giants like Samsung and LG, is a key market for COPs in display technologies, semiconductor packaging, and optical films. The country’s leadership in OLED and flexible display technologies has increased demand for COPs due to their superior optical clarity and low thermal expansion properties. Additionally, South Korea’s growing EV and battery manufacturing sector is driving COP applications in lightweight sensor housings and insulation components. The country’s government initiatives to promote advanced materials and semiconductor research further create opportunities for COP manufacturers. Overall, Asia-Pacific is a major driver of the global COP market, with China, Japan, South Korea, and India playing pivotal roles in expanding its applications. The region’s fast-paced industrial growth, strong technological advancements, increasing healthcare investments, and booming electronics sector are key factors contributing to the market’s expansion. With rising demand for lightweight, high-performance, and sustainable materials, COPs are poised to experience significant growth in medical, electronics, automotive, and packaging applications. As companies continue to innovate and governments push for self-reliant supply chains, the Asia-Pacific region will remain a critical market for cyclic olefin polymers in the years to come.
Browse Adjacent Markets Resins and Polymers Market Research Reports & Consulting
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Nxera Pharma Notes Neurocrine Biosciences Presents New Positive Data from Phase 2 Study of NBI-1117568 in Adults with Schizophrenia at American Society of Clinical Psychopharmacology 2025
Tokyo, Japan and Cambridge, UK, 29 May 2025 – Nxera Pharma Co., Ltd. (“Nxera” or “the Company”; TSE 4565) notes that Neurocrine Biosciences, Inc. announced that it had presented new positive data from the Phase 2 study of NBI-1117568 in adults with schizophrenia at the American Society of Clinical Psychopharmacology (ASCP) 2025 Annual Meeting in Scottsdale, Arizona.
For more information, please read Neurocrine’s announcement (link).
–END–
About Nxera PharmaNxera Pharma is a technology powered biopharma company in pursuit of new specialty medicines to improve the lives of patients with unmet needs in Japan and globally.
We have built an agile, new-generation commercial business in Japan to develop and commercialize innovative medicines, including several launched products, to address this high value, large and growing market and those in the broader APAC region.
Behind that, and powered by our unique NxWave™ discovery platform, we are advancing an extensive pipeline of over 30 active programs from discovery through to late clinical stage internally and in partnership with leading pharma and biotech companies. This pipeline of potentially first- and best-in-class candidates is focused on addressing major unmet needs in some of the fastest-growing areas of medicine across neurology/neuropsychiatry, metabolic diseases and immunology and inflammation.
Nxera employs approximately 400 talented people at key locations in Tokyo and Osaka (Japan), London and Cambridge (UK), Basel (Switzerland) and Seoul (South Korea) and is listed on the Tokyo Stock Exchange (ticker: 4565).
For more information, please visit www.nxera.life LinkedIn: @NxeraPharma | X: @NxeraPharma | YouTube: @NxeraPharma
Enquiries:
Nxera – Media and Investor RelationsShinya Tsuzuki, VP, Head of Investor RelationsShinichiro Nishishita, VP Investor Relations, Head of Regulatory DisclosuresMaya Bennison, Communications Manager+81 (0)3 5962 5718 | +44 (0)1223 949390 |IR@Nxera.life
MEDiSTRAVA (for International Media)Mark Swallow, Frazer Hall, Erica Hollingsworth+44 (0)203 928 6900 | Nxera@medistrava.com
Forward-looking statementsThis press release contains forward-looking statements, including statements about the discovery, development, and commercialization of products. Various risks may cause Nxera Pharma Group’s actual results to differ materially from those expressed or implied by the forward looking statements, including: adverse results in clinical development programs; failure to obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialize products and services; difficulties or delays in obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialization activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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FOBI AI Inc. Announces Sale of German Subsidiary
Vancouver, BC, May 28, 2025 (GLOBE NEWSWIRE) -- FOBI AI Inc. (FOBI:TSXV) (FOBIF:OTCQB) (“Fobi” or the “Company”) announces that it has entered into a share purchase agreement dated May 28, 2025 (the “Agreement”), with an arm’s length third party purchaser (the “Purchaser”), whereby pursuant to the Agreement, FOBI will sell to the Purchaser all of its shares in Fobi AI Germany GmbH (the “Acquired Company”, its wholly owned German subsidiary (the “Transaction”).
Pursuant to the Agreement, the Purchaser will pay to FOBI an aggregate of EUR 1,540,000.00 consisting of a cash purchase price in the amount of EUR 1,400,000.00 (the “Purchase Price”) and an additional purchase price in the amount of EUR 140,000.00, which will be paid by the Purchaser to the Acquired Company on behalf of FOBI after assumption by the Purchaser of FOBI’s obligations to pay such amount per the License (as defined below).
Pursuant to the Agreement, the Acquired Company will grant FOBI a license (the “License”) to use the “Passcreator Software” for the payment of an aggregate price of EUR 140,000. Such payment obligation will be assumed by the Purchaser pursuant to the Agreement. The License will be non-exclusive, worldwide, irrevocable and sublicensable. The term of the License will be 48 months after closing of the Transaction, without the right to terminate during these 48 months.
Rob Anson, CEO of Fobi, shared: "The sale of our German subsidiary was a strategic decision designed to fuel Fobi’s future growth without any further dilution to shareholders. This move is anticipated to immediately strengthens our financial position, secures full licensing rights, and enables us to accelerate progress in other key focus areas.
Over the past six months, we’ve been preparing Fobi for its next evolution in terms of sharpening our focus and strategically aligning with the transformative shifts in AI and Web3. Today’s announcement sets the stage for the Company’s advancements ahead."
No finders fee will be paid pursuant to the Agreement. The Transaction remains subject to the approval of the TSX Venture Exchange.
The Company is currently subject to an ongoing failure-to-file cease trade order ordered by the British Columbia Securities Commission on November 1, 2024 (the "FFCTO"). The FFCTO is applicable to the securities of the Company. The Transaction involves a sale of the securities of the Acquired Company, being a private German limited liability company not publicly listed on any stock exchange.
About Fobi
Founded in 2017 in Vancouver, Canada, Fobi is a leading AI and data intelligence company that provides businesses with real-time applications to digitally transform and future-proof their organizations. Fobi enables businesses to action, leverage, and monetize their customer data by powering personalized and data-driven customer experiences, and drives digital sustainability by eliminating the need for paper and reducing unnecessary plastic waste at scale.
Fobi works with some of the largest global organizations across retail & CPG, insurance, sports & entertainment, casino gaming, and more. Fobi is a recognized technology and data intelligence leader across North America and Europe, and is the largest data aggregator in Canada's hospitality & tourism industry.
For more information, please contact:
Fobi AI Inc.
Fobi Website: www.fobi.ai
Rob Anson, CEO
Facebook: @ Fobiinc
T : +1 877-754-5336 Ext. 3
Twitter: @ Fobi_inc
E: ir@fobi.ai
LinkedIn: @ Fobiinc
Forward Looking Statements/Information:
This news release contains certain statements which constitute forward-looking statements or information, including statements regarding the terms of the Transaction, the timing of the closing of the Transaction, and other statements characterized by words such as “anticipates,” “may,” “can,” “plans,” “believes,” “estimates,” “expects,” “projects,” “targets,” “intends,” “likely,” “will,” “should,” “to be”, “potential” and other similar words, or statements that certain events or conditions “may”, “should” or “will” occur. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company’s control, including, without limitation, market competition, the impact of general economic and industry conditions, competition, stock market volatility, BCSC and Exchange approval conditions, and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: Fobi not receiving approval of the Exchange with respect the Transaction; and changes to volatile exchange rates, market conditions, market competition and other economic and market factors. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans, operations, and results, levels of activity or achievements.
The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of the Company should be considered highly speculative. There can be no assurance that the Company will be able to achieve all or any of its proposed objectives.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The post FOBI AI Inc. Announces Sale of German Subsidiary appeared first on ForexTV.
CF Energy Announces Financial Results for the Three-month period ended March 31, 2025
TORONTO, May 28, 2025 (GLOBE NEWSWIRE) -- CF Energy Corp. (TSX-V: CFY) (“CF Energy” or the “Company”, together with its subsidiaries, the “Group”), an energy provider in the People’s Republic of China (the ”PRC” or “China”), announces that the Company has filed its unaudited interim consolidated financial results for the three-month period ended March 31, 2025.
The unaudited condensed interim consolidated financial statements and Management’s Discussion and Analysis (“MD&A”) can be downloaded from www.sedarplus.com or from the Company's website at www.cfenergy.com.
The unaudited condensed interim consolidated financial statements have been prepared in conformity with IFRS Accounting Standards as issued by the International Accounting Standards Board (“IASB”) (collectively, “IFRS Accounting Standards”). This news release contains financial terms that are non-IFRS Accounting Standards (“non-GAAP”) financial measures.
Results for the three-month period ended March 31, 2025 (“Q1 2025”)
Continuing Operations
In millions
Q1 2025
Q1 2024
Change
%
Q1 2025
Q1 2024
Change
(except for % figures)
RMB
RMB
RMB
CAD
CAD
CAD
Continuing Operations
Revenue
105.0
149.0
(44.0)
-30%
20.7
28.0
(7.3)
Gross Profit
24.5
32.7
(8.2)
-25%
4.8
6.1
(1.3)
Gross Profit Margin
23.3%
21.9%
1.4%
Net Profit
1.6
9.9
(8.3)
-84%
0.3
1.9
(1.6)
Adjusted net Profit [non-GAAP]
1.4
9.9
(8.5)
-85%
0.3
1.9
(1.6)
EBITDA
21.9
29.6
(7.7)
-26%
4.3
5.6
(1.3)
Adjusted EBITDA [non-GAAP]
21.7
29.6
(7.9)
-27%
4.3
5.6
(1.3)
Revenue in Q1 2025 was RMB105.0 million (approx. CAD20.7 million), a decrease of RMB44.0 million (approx. CAD7.3 million), or 30%, from RMB149.0 million (approx. CAD28.0 million) for the three-month period ended March 31, 2024 (“Q1 2024”).
Revenue decrease in Q1 2025 reflected the bulk sales of pipeline gas to a gas supplier of a power plant in the Guangdong Province which was not repeated in Q1 2025. Excluding such bulk sales in Q1 2024, revenue in Q1 2025 remained at a similar level as that for Q1 2024.
Gross profit in Q1 2025 was RMB24.5 million (approx. CAD4.8 million), a decrease of RMB8.2 million (CAD1.3 million) or 25% from RMB32.7 million (approx. CAD6.1 million) in Q1 2024. Overall gross margin in Q1 2025 was 23.3%, an increase of 1.4 percentage points from 21.9% in Q1 2024.
As the bulk sales in Q1 2024 were at relatively competitive prices with very low gross margin which had a dilutive effect on the overall gross profit and margin in Q1 2024. On a comparable basis, excluding such bulk sales in Q1 2024, gross profit in Q1 2025 decreased by RMB7.9 million (approx. CAD1.6 million), or 24%, from RMB32.4 million (approx. CAD6.4 million) in Q1 2024 to RMB24.5 million (approx. CAD4.8 million) in Q1 2025 and gross profit margin in Q1 2025 decreased by 6.6 percentage points from 29.9% in Q1 2024 to 23.3% in Q1 2025.
The overall drop in gross profit margin in Q1 2025 as compared to the comparable gross profit margin in Q1 2024 was mainly attributable to the increase in the purchase price of pipeline gas and the low profit margin from urban gas pipeline facility renovation project with local government, which was offset by the narrowing of the negative margin of the Integrated Smart Energy segment in Q1 2025 as the number of users and their usage increased in the period.
In millions
Q1 2025
Q1 2024
Change
%
Q1 2025
Q1 2024
Change
(except for % figures)
RMB
RMB
RMB
CAD
CAD
CAD
Continuing Operations
Net profit for the period
1.6
9.9
(8.3)
-84%
0.3
1.9
(1.6)
Non-recurring items
Government financial assistance
(0.2)
-
(0.2)
100%
(0.0)
-
(0.0)
Adjusted net profit for the period (non-GAAP)
1.4
9.9
(8.5)
-85%
0.3
1.9
(1.6)
Net profit in Q1 2025 was RMB1.6 million (approx. CAD0.3 million), a decrease of RMB8.3 million (approx. CAD1.6 million) from RMB9.9 million (approx. CAD1.9 million) in Q1 2024. On a comparable basis, after excluding the government financial assistance of RMB0.2 million (approx. CAD0.0 million), the adjusted net profit in Q1 2025 (non-GAAP) was RMB1.4 million (approx. CAD0.3 million), a decrease of RMB8.5 million (approx. CAD1.6 million), or 85% from RMB9.9 million in Q1 2024.
Basic earnings per share (“EPS”) in Q1 2025 from continuing operations was RMB0.05 (CAD0.01) per share, a decrease of RMB0.13 (CAD0.02), as compared to RMB0.18 (CAD0.03) per share in Q1 2024.
In millions
Q1 2025
Q1 2024
Change
%
Q1 2025
Q1 2024
Change
(except for % figures)
RMB
RMB
RMB
CAD
CAD
CAD
Continuing Operations
EBITDA for the period
21.9
29.6
(7.7)
-26%
4.3
5.6
(1.3)
Non-recurring items
Government financial assistance
(0.2)
-
(0.2)
100%
(0.0)
-
(0.0)
Adjusted EBITDA for the period (non-GAAP)
21.7
29.6
(7.9)
-27%
4.3
5.6
(1.3)
EBITDA (non-GAAP) in Q1 2025 was RMB21.9 million (approx. CAD4.3 million), a decrease of RMB7.7 million (approx. CAD1.3 million), or 26%, from RMB29.6 million (approx. CAD5.6 million) in Q1 2024. After excluding the government financial assistance of RMB0.2 million (approx. CAD0.0 million), the adjusted EBITDA in Q1 2025 (non-GAAP) was RMB21.7 million (approx. CAD4.3 million), a decrease of RMB7.9 million (approx. CAD1.3 million), or 27% from RMB29.6 million in Q1 2024 on a comparable basis.
Company Outlook
While the Company is ambitious in its goal to become the largest clean energy service solutions provider and carbon asset management company in Hainan, we recognize the economic and political instability in the world and will be cautious in our investments in the next few years. That being said, the need for CF Energy to become a clean energy service solutions provider rather than just a natural gas distributor is more important than ever. The natural gas industry faces a variety of challenges ranging from regulatory impacts to market dynamics, and in the competitive and shifting landscape, we must evolve to embrace the changes and plan ahead.
Distributed Smart Energy Ecosystem – What We Achieved:
CF Energy Corp. has developed from a traditional natural gas company into a comprehensive energy solutions provider that aims to incorporate its smart energy system and battery swapping network via energy storage technology to create a highly integrated and efficient framework for sustainable energy management.
CF Energy’s Haitang Bay integrated smart energy project and Meishan project are examples of standalone distributed energy system with advanced grid technologies that enable real-time monitoring and responsive energy distribution based on demand and supply conditions. Through ice storage technology, the Haitang Bay integrated smart energy system was founded.
We have entered the field of electrochemical energy storage for cost reduction and energy conservation through the mode of battery swapping in new energy vehicles. The battery pack also serves as a power storage unit, if scaled to a network, can also be considered a distributed energy system. Incorporating battery storage into an energy system provides flexibility and enhances system stability. Strategically placed storage systems, both at utility-scale and distributed sites, ensure energy availability across the network, especially in remote or critical areas. The CF Energy battery swap station network in Sanya already successfully provides an energy storage and distribution network for the EV taxis in Sanya city.
Combining deep cultivation in the energy storage field of ice and electrochemical energy storage technology, vigorously expanding cooperation with companies in the industry, relying on the customer base of the natural gas company, further promoting the application of industrial and commercial energy storage.
Distributed Smart Energy Ecosystem – What We Are Currently Doing:
The company is working with partners in the IoT (internet of things), and cloud services field to create an efficient EMS (energy management system) that connects the standalone distributed smart energy systems with various energy storage technologies (including battery storage). - IoT Devices and Sensors are deployed across all components of the energy system—solar panels, energy storage units, battery swapping stations, and consumer endpoints. They collect real-time data on energy production, storage levels, battery health, and consumption patterns. Using historical data and machine learning models, the EMS can predict demand spikes, potential system disruptions, and optimal energy production schedules. This helps in preemptive management, reducing wastage, and increasing system reliability.
This interconnected ecosystem facilitates a sustainable, resilient, and efficient energy landscape, capable of reducing carbon footprints and promoting the use of clean energy technologies. Integrated software and management platforms monitor and control the flow of energy throughout the ecosystem. They optimize when to store energy, when to release it, and how to efficiently distribute it across various needs. CF Energy’s integrated system operates on a cycle of data-driven decision-making where sensors collect data, the EMS analyzes and makes decisions, and commands are sent to adjust production, storage, or distribution. This smart, interconnected ecosystem not only supports current energy needs but also scales to meet future demands and technological advancements.
By adopting an open market model, we aim to further attract upstream/midstream clean energy enterprises and improve the design, implementation, and operation of regional energy management roles. Further improve the integration of relevant supply chains, from the production end of upstream related equipment to equipment integrators, and finally in the development of relevant software and equipment operation and maintenance, forming a closed-loop chain involving production, sales, and maintenance.
Distributed Smart Energy Ecosystem – Vision Moving Forward:
In the past five years, the Company has successfully established itself in the district energy and renewable energy space. The Haitang Bay smart energy centralized cooling project was the Company’s first venture into energy management services and despite setbacks during COVID-19, the project is now successfully in operation, reducing the overall carbon footprint of the Haitang Bay area. CF Energy is also one of the few companies in China to successfully operate battery swap station networks. Our goal for entering the battery swap business has always been in testing viability in district energy storage via station and battery packs. CF Energy’s stations also incorporate solar panel installation to optimize the energy usage of the stations.
The Company envisions the smart energy centralized cooling for hotels, battery swap stations, and operates as a virtual power plant with active end user participation. The combined energy capacity from the cooling system, battery swap stations, and possibly additional storage units, can act as a virtual power plant, providing grid services such as peak shaving, load balancing, and frequency regulation.
The Company is working to integrate a demand response system where hotels and other end users can opt-in to adjust their energy usage during peak periods in response to incentives. For example, shifting non-essential power usage to off-peak hours. EV owners can charge their vehicles during off-peak hours to benefit from lower rates and reduce grid strain during high-demand periods. Alternatively, V2G (Vehicle to Grid) concept allows EVs to return energy to the grid during peak times, effectively using the vehicle’s battery as a grid resource. Furthermore, utilizing a platform for energy trading that allows surplus energy (from renewable sources and stored energy) to be sold back to the grid or shared among participants will add additional revenue stream and encouraging sustainable practices. The integration must connect all components through a smart grid that enables two-way communication between the energy providers and consumers. This integration allows for real-time monitoring, control, and optimization of energy flows.
The traditional core business of CF Energy will also be integrated into this system, utilize the flexibility and high-energy density of natural gas to balance and support the renewable components of the system, especially during peak demands or intermittent renewable supply. The combined heat and power (CHP) design is already a part of the Haitang Bay project, with the aim to simultaneously generate electricity and thermal energy from natural gas. The electricity can support the grid or local energy needs, while the thermal energy is used directly for hotel heating or to augment the centralized cooling system via absorption chillers.
Using natural gas turbines or engines to provide additional power generation capacity, especially during periods when renewable energy sources are insufficient. This can ensure continuous operation of critical infrastructure without interruption.
By integrating these elements, CF Energy works to establish the model of a distributed energy system that can effectively operate as a centralized cooling and heating provider for end consumers, a battery swap station network, and a virtual power plant, all while engaging end users to participate actively in energy management. This not only enhances energy efficiency and sustainability but also creates a cooperative ecosystem that benefits all participants economically and environmentally.
About CF Energy Corp. (Previously known as: Changfeng Energy Inc.)
CF Energy Corp. is a Canadian public company currently traded on the Toronto Venture Exchange (“TSX-V”) under the stock symbol “CFY”. It is an integrated energy provider and natural gas distribution company (or natural gas utility) in the PRC. CF Energy strives to combine leading clean energy technology with natural gas usage to provide sustainable energy to its customer base in the PRC.
CONTACT INFORMATION
Yongqiang (Shawn) ShanChief Financial OfficerYongqiang.shan@changfengenergy.cn
Charles WangSecretary of the Boardzhaoyu.wang@changfengenergy.cn
Frederick WongDirector of the Boardfred.wong@changfengenergy.cn
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements and forward-looking information (collectively, “Forward-Looking Statements”). All statements, other than statements of historical fact, included or incorporated by reference in this document are Forward-Looking Statements, including statements regarding activities, events or developments that the Company expects or anticipates may occur in the future (including, without limitation, no significant adjustments to the gas selling price and charges for related services imposed by the relevant PRC government, the tourism industry continues to recover from COVID-19 impact and no delay in the development of the electric vehicle battery swap stations, the Haitang Bay Integrated Smart Energy Project or the Meishan Project). These Forward-Looking Statements can be identified by the use of forward-looking words such as “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe” or “continue” or similar words or the negative thereof. No assurance can be given that the plans, intentions or expectations or assumptions upon which these Forward-Looking Statements are based will prove to be correct and such Forward-Looking Statements included in this news release should not be unduly relied upon. Although management believes that the expectations represented in such Forward-Looking Statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such Forward-Looking Statements are not a guarantee of performance and involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such Forward-Looking Statements. These factors include, without limitation, no significant and continuing adverse changes in general economic conditions or conditions in the financial, tourism, and gas distribution and electric vehicle markets or delays in the development of key projects. Readers are cautioned that all Forward-Looking Statements involve risks and uncertainties, including those risks and uncertainties detailed in the Company’s filings with applicable Canadian securities regulatory authorities, copies of which are available at www.sedar.com. The Company urges readers to carefully consider those factors. The Forward-Looking Statements included in this news release are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any Forward-Looking Statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. This news release contains future oriented financial information and financial outlook information (collectively, "FOFI") (including, without limitation, statements regarding expected average production), and are subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraph. The FOFI has been prepared by management to provide an outlook of the Company's activities and results, and such information may not be appropriate for other purposes. The Company and management believe that the FOFI has been prepared on a reasonable basis, reflecting management's reasonable estimates and judgments, however, actual results of operations of the Company and the resulting financial results may vary from the amounts set forth herein. Any FOFI speaks only as of the date on which it is made, and the Company disclaims any intent or obligation to update any FOFI, whether as a result of new information, future events or results or otherwise, unless required by applicable laws.
Non-GAAP Financial Measures
This news release contains financial terms that are non-GAAP financial measures, such as EBITDA, Adjusted EBITDA and Adjusted Net Profit. These financial measures, together with measures prepared in accordance with IFRS Accounting Standards, provide useful information to investors and shareholders, as management uses them to evaluate the operating performance of the Company. The Company's determination of these non-GAAP measures may differ from other reporting issuers, and therefore are unlikely to be comparable to similar measures presented by other companies. Further, these non-GAAP measures should not be considered in isolation or as a substitute for measures of performance or cash flows prepared in accordance with IFRS Accounting Standards. These financial measures are included because management uses this information to analyze operating performance and liquidity. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The post CF Energy Announces Financial Results for the Three-month period ended March 31, 2025 appeared first on ForexTV.
AIP Realty Trust Announces First Quarter 2024 Results
VANCOUVER, British Columbia, May 28, 2025 (GLOBE NEWSWIRE) -- AIP Realty Trust (the “Trust” or “AIP Realty”) (TSXV:AIP.U) today announced its financial results for the three months ended March 31, 2025. All dollar amounts are stated in U.S. dollars.
Q1 2025 Highlights
The demand for light industrial flex facilities is continuing to drive rental rate increases, and the Eagle Court property is demonstrating robust leasing momentum. While the Trust aims to minimize vacancies and has been successful in this endeavor, unit turnover provides an opportunity to update suite revenue per square foot and bring it in-line with current market conditions. New leases signed in 2025 at Eagle Court have seen an average 19% increase in suite revenue per square foot.
Investment property revenue was $124,232 for the three months ended March 31, 2025, compared to $151,042 in the same period in 2024, a decrease of $26,810, or 18%. The decline in investment property revenue was mainly due to a decline in parking revenue from a 2024 lease expiration that included a large parking agreement component and normal turnover that resulted in the scheduled vacancy of two units starting in February 2025. Both vacant units were released at higher rates to new tenants that moved in mid-March 2025.
Investment property operating expense for the three months ended March 31, 2025 increased to $64,742, compared to $48,602 for the three months ended March 31, 2025, an increase of $16,140, or 33%. The increase in investment property operating expense was primarily due to the variable nature of maintenance and repair expense, as the Trust took advantage of the scheduled vacancies in the first quarter of 2025 to perform maintenance on its parking lot and property-wide fire system, which resulted in over $14,000 of additional expense in the first quarter of 2025 compared to 2024. As a result, overall investment property net rental income for the three months ended March 31, 2025 was $59,490, compared to $102,440 for the three months ended March 31, 2024, a decline of $42,950, or 42%.
Effective February 12, 2025, the Trust completed a fourth tranche of a non-brokered private placement (the “Financing”) and issued 5,200,000 Preferred Units at a price of $0.50 per Preferred Unit for aggregate gross proceeds of $2,600,000. The Trust paid $160,000 in finder’s fees to a non-related third party in connection with the fourth tranche of the Financing. The Trust intends to use the proceeds of the Financing and Plymouth Transaction for working capital and general corporate purposes.
On March 10, 2025, the Trust entered into a term sheet and mandate letter with a leading US banking institution to serve as the administrative agent and sole lead arranger of a senior first mortgage, secured, interest-only credit facility (the “Facility”). The total Facility will be for $300,000,000, with the initial amount being $100,000,000. The Facility will be subject to an accordion option whereby the Trust shall have the right to increase the Facility by an amount equal to an additional $200,000,000.
Additionally on March 10, 2025, the Trust announced an Off-Balance Sheet Development JV whereby it entered into a non-binding term sheet between the Trust and a significant financial institutional group (the “JV Partner”), pursuant to which the Trust and the JV Partner will form a joint venture entity (the “Joint Venture”), governed by a joint venture agreement to be negotiated by the parties. The Joint Venture will serve as an off-balance sheet development vehicle to construct new AllTrades SIBS facilities across the Sunbelt states, which the Trust will then acquire outright upon completion and leasing stabilization.
Selected Financial Information
Three Months Ended
March 31, 2025
March 31, 2024
Investment property revenue
$
124,232
$
151,042
Investment property operating expenses
(64,742
)
(48,602
)
Investment property net rental income
59,490
102,440
Trust expense
(1,480,425
)
(481,285
)
Fair value adjustment to investment property
91,403
1,375
Net loss and total comprehensive loss
$
(1,329,532
)
$
(377,740
)
March 31, 2025
December 31, 2024
(unaudited)
(audited)
Investment property
$
6,092,924
$
5,992,598
Cash
$
664,650
$
519,601
Project debt (net of debt discount)
$
2,896,346
$
2,920,352
Accounts payable and accrued expenses
$
7,121,233
$
6,670,515
Units outstanding
4,924,448
4,924,448
The foregoing is a summary of selected information for the three months ended March 31, 2025 and 2024 and is qualified in its entirety by, and should be read in conjunction with, the Trust’s condensed interim consolidated financial statements and management discussion and analysis for the three months ended March 31, 2025 and 2024. These documents are available on SEDAR+ at www.sedarplus.com, and on the Trust’s website at www.aiprealtytrust.com.
Related party disclosures
The executive management team of the Trust is the same executive management team as AllTrades.
Outlook and Subsequent Events
Through its agreement with AllTrades, the Trust has been granted an exclusive right to purchase all AllTrades’ completed and leased facilities, as well as any facilities in development. This includes 13 properties subject to forward purchase agreements, including six DFW-area facilities already completed or nearing completion, and seven additional facilities on which development has commenced or is ready to commence. Development on these facilities was funded with equity capital from AllTrades and Trinity Investors, a $7 billion Dallas-based real estate private equity investor. In addition, AllTrades is actively planning the next tranche of facilities in DFW and Houston, TX.
As previously disclosed in March 2024, the Board of Trustees continues to explore the execution of its business plan and relationship with AllTrades and anticipates closing the AllTrades Transaction by the end of the third quarter 2025. The Trust is currently engaged in advanced discussions with several leading banks who have shown interest in serving as lead investment banker of the syndicate members to the Concurrent Financing in connection with the AllTrades Transaction.
About AIP Realty Trust
AIP Realty Trust is an unincorporated, open ended mutual fund trust with a growing portfolio of AllTrades branded SIBS light industrial flex facilities focused on small businesses and the trades and services sectors in the U.S. These properties appeal to a diverse range of small space users, such as contractors, skilled trades, suppliers, repair services, last-mile providers, small businesses and assembly and distribution firms. They typically offer attractive fundamentals including low tenant turnover, stable cash flow and low capex intensity, as well as significant growth opportunities. With an initial focus on the Dallas-Fort Worth market, AIP plans to roll out this innovative property offering nationally. AIP holds the exclusive rights to finance the development of and to purchase all the completed and leased properties built across North America by its development and property management partner, AllTrades Industrial Properties, LLC. For more information, please visit www.aiprealtytrust.com.
For further information from the Trust, contact:Leslie WulfExecutive Chairman(214) 679-5263les.wulf@aiprealtytrust.com
Or
Greg VorwallerChief Executive Officer(778) 918-8262greg.vorwaller@aiprealtytrust.com
Cautionary Statement on Forward-Looking Information
This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of AIP Realty Trust with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding, future acquisitions by the Trust, the ability to obtain regulatory and unitholder approvals and other factors. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the commencement of development on certain of the AllTrades facilities, proposed financing activity, proposed acquisitions, regulatory or government requirements or approvals, the reliability of third-party information and other factors or information. Such statements represent the Trust’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Trust, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward- looking statements. These forward-looking statements are made as of the date hereof and are expressly qualified in their entirety by this cautionary statement. The Trust does not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release is not an offer of securities for sale in the United States. The securities may not be offered or sold in the United States absent registration or an exemption from registration under U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”). The Trust has not registered and will not register the securities under the U.S. Securities Act. The Trust does not intend to engage in a public offering of their securities in the United States.
Source: AIP Realty Trust
The post AIP Realty Trust Announces First Quarter 2024 Results appeared first on ForexTV.
CORRECTION! KALDVIK AS (KLDVK): Announcement of Q1 2025 results and new refinancing package
KALDVIK AS (KLDVK) reports operating income in Q1 of EURm 48.4 (EURm 31.1), while the operating profit/loss before fair value adjustment of biomass and production tax was positive of EURm 9.8 (EURm 2.4).
Harvest amounted to 6,383 tonnes in Q1 2025 (3,986 tonnes)
Web cast will be at 09:00 (CEST)/ 07:00 Icelandic time on 28 May 2025 on the following link: www.kaldvik.is/live
NEW REFINANCING PACKAGE
Further, Kaldvik has initiated a process to refinance the company through a new debt package and equity and has received confirmation of a new and improved bank financing package from its existing lenders.
In connection with the refinancing, it is a condition for the new financing that the company raises a net cash amount of approx. EUR 45 million in new equity. The company is in the process of launching such an equity raise, with strong backing from its majority shareholder, Austur Holding AS.
Attached is the presentation and report for Q1 2025, which also includes further information on the refinancing package. An updated company presentation has also been uploaded to the company's website www.kaldvik.is.
Kaldvik, 28 May 2025
Contact: Robert Robertsson, CFO of KALDVIK AS: +354 843 0086(mobile)
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Róbert Róbertsson, CFO of Kaldvik AS, on 28 May 2025 at 07:00 CEST.
Attachments
Kaldvik Q1 2025 presentation
Kaldvik Q1 2025 Report
The post CORRECTION! KALDVIK AS (KLDVK): Announcement of Q1 2025 results and new refinancing package appeared first on ForexTV.
Zweig Group announces the 2025 Hot Firm List
The award honors the 100 fastest-growing AEC firms in the US and Canada
Fayetteville, AR, May 28, 2025 (GLOBE NEWSWIRE) -- Zweig Group, the leading provider of management consulting, research, and education for the architecture, engineering, and construction industry, is proud to announce the 2025 Hot Firm List, honoring the 100 fastest-growing AEC firms in the United States and Canada. These companies have outperformed the economy and their peers to become industry leaders through a combination of strategic growth, strong leadership, and commitment to innovation.
Topping the 2025 Hot Firm List is Verdantas, claiming the number one spot for the first time. Certerra makes an impressive debut in second place, followed by Salas O’Brien in third – continuing its streak as one of the industry’s fastest-growing firms. Bowman Consulting Group and Grace round out the top five, demonstrating exceptional growth and strategic leadership in a competitive market.
“The 2025 Hot Firms are a reflection of the strength and resilience of the AEC industry,” said Chad Clinehens, president and CEO of Zweig Group. “These companies have achieved remarkable growth while navigating market shifts, talent shortages, and increased competition. Their success highlights the value of strategic leadership, strong culture, and the ability to adapt and innovate.”
Firms were ranked based on a score that combined three-year revenue growth in both dollar and percentage terms. To be eligible, firms must have earned at least $500,000 in gross revenue in 2021, at least $1 million by 2024, and have derived at least 50 percent of that revenue from the AEC industry.
Winners will be honored at a black-tie gala during Zweig Group’s 2025 ElevateAEC Conference in San Antonio, Texas, September 9-11, 2025. Learn more or register here.
See the full list of 2025 Hot Firm winners here.
See all 2025 award winners here!
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About Zweig Group
Zweig Group, four times on the Inc. 500/5000 list, is the industry leader and premiere authority in AEC firm management and marketing, the go-to source for data and research, and the leading provider of customized learning and training. Zweig Group exists to help AEC firms succeed in a complicated and challenging marketplace through services that include Mergers & Acquisitions, Strategic Planning, Valuation, Executive Search, Board of Director Services, Ownership Transition, Marketing & Branding, and Business Development Training. The firm has offices in Dallas and Fayetteville, Arkansas. Subscribe to the Zweig Group's weekly newsletter, The Zweig Letter, and receive insights delivered straight to your inbox.
CONTACT: Sara Parkman
Zweig Group
800.466.6275
sparkman@zweiggroup.com
The post Zweig Group announces the 2025 Hot Firm List appeared first on ForexTV.
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