This collaboration will help replenish groundwater in key river basins in North and South Carolina by providing farmers with cutting-edge technology to improve irrigation efficiency.
SAN FRANCISCO, CA / ACCESS Newswire / May 29, 2025 / Google and Arable are expanding their collaboration in water replenishment efforts by bringing Arable’s in-field irrigation technology to hundreds of fields across North and South Carolina. The project will support the Edisto-Santee River Basin in South Carolina and the Catawba and Pee Dee Basins in North Carolina. This initiative aims to help farmers make precise irrigation decisions using Arable’s crop intelligence platform, while contributing to Google’s goal of replenishing more water than it consumes by 2030.
Google is funding the use of Arable’s technology on 20,000 acres across both states, aiming to save more than 500 million gallons of water annually over an eight-year period. This is expected to have a significant positive impact on groundwater in some of the most at-risk river basins and aquifers in North and South Carolina, aligning environmental goals with farmer profitability and resilience. Scaling irrigation water-use efficiency will deliver multiple benefits to the region, including improved water availability & quality, farmer training on new technology, enhanced on-farm profitability, and reduced greenhouse gas emissions.
“As a soil scientist, I’ve seen firsthand how efficient irrigation protects both our natural resources and our farm productivity,” said Dalton Buchanan, Soil Scientist at the Division of Soil and Water Conservation with the NC Department of Agriculture & Consumer Services. “In North Carolina, smart water use isn’t just good stewardship – it’s essential for long-term agricultural success.”
“Supporting responsible and sustainable water use in agriculture is essential for the long-term health of ecosystems and communities,” said Suzie Shin, Data Center Sustainability Programs Manager at Google. “With data center campuses in both North Carolina and South Carolina, we’re proud to build on our work with Arable to bring this solution to a region we have called home for nearly 20 years.”
Technology That Drives Impact
Arable’s technology and impact have recently been recognized by TIME Magazine, which named it to its 2025 America’s Top GreenTech Companies list, and by Fast Company, which included Arable in its 2025 ranking of the World’s Most Innovative Companies. These honors underscore the company’s role in advancing climate-smart agriculture through actionable, in-field data.
The Arable platform integrates weather, crop, soil, and irrigation data into a single, easy-to-use system, accessible through mobile and web applications. This empowers growers to optimize irrigation decisions based on exactly how much water their crop needs at all times, while improving productivity and operational efficiency.
Results from Arable and Google’s ongoing collaboration in Nebraska and other similar projects have shown that farmers are able to quickly adopt new technology and see real results in reducing groundwater use at scale, while also improving their operations. Approaches such as this that bring together farmers and provide them the tools they need to support and inform their decisions are vital for replenishing groundwater resources across the agricultural system.
“By combining reliable, real-time data with intuitive decision tools, we’re helping farmers do more with less-less water, less energy, and less risk,” said Jim Ethington, CEO at Arable. “We’re excited to bring much needed technology to a region where the need is high and impact to farmers and ecosystems can be significant.”
Looking Ahead
This expanded collaboration marks another step forward in aligning agricultural innovation with environmental stewardship. By combining Google’s commitment to water stewardship with Arable’s advanced crop intelligence technology, the initiative not only supports individual growers but also contributes to the long-term sustainability of the Carolinas’ vital water systems. With training and support built into the program, participating farmers will be equipped to make lasting changes that benefit both their operations and the environment-setting a replicable model for farmer-led, corporate-sponsored water stewardship across the country.
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About Arable Arable is the leader in climate and water smart agriculture, helping to transform agronomic decision-making through cutting-edge technology. Forward-thinking organizations in over 50 countries rely on Arable to help them be more productive and sustainable.
Arable integrates state-of-the-art IoT technology, machine learning, AI and advanced modeling to convert in-field weather, crop, soil, and irrigation data into real-time, actionable insights. Users are empowered to make informed, proactive decisions that reduce risk and optimize agricultural practices.
Focused on shaping the future of agriculture and water, Arable powers transformative initiatives such as large-scale irrigation optimization that conserve hundreds of millions of gallons of water, and agricultural weather intelligence networks supporting thousands of underserved smallholder farmers around the world.
Consistently recognized for its groundbreaking innovations and impact, Arable is proud to be listed among America’s fastest-growing private companies on the Inc. 5000, ranked #1 in Agtech on TIME’s list of top sustainability-focused companies in agriculture, and featured in Fast Company’s “Most Innovative Companies” list. For more information, visit https://www.arable.com/
STONY BROOK, NY / ACCESS Newswire / May 29, 2025 / Applied DNA Sciences, Inc. (NASDAQ:APDN) (“Applied DNA” or the “Company”), a leader in PCR-based DNA technologies, today announced that it will effect a 1-for-15 reverse stock split of its issued and outstanding common stock. The Reverse Stock Split will become effective at 12:01 a.m. Eastern Time on June 2, 2025, and Applied DNA common stock will begin trading on a split-adjusted basis on The Nasdaq Capital Market (the “Nasdaq”) as of the commencement of market open that same day.
Applied DNA common stock will continue to trade on The Nasdaq Capital Market under the symbol “APDN” following the reverse stock split, with a new CUSIP number of 03815U607. The CUSIP number for the Company’s book entry warrants will not change.
After the effectiveness of the reverse stock split, the number of outstanding shares of common stock will be reduced from approximately 7.8 million (as of the date of this press release) to approximately 519 thousand. The total authorized number of shares will not be reduced. Proportional adjustments will be made to the number of shares of common stock issuable upon exercise or vesting of the Company’s outstanding stock options, restricted stock units, and warrants, as well as the applicable exercise or conversion prices, and to the number of shares issuable under the Company’s equity incentive plans and other existing agreements. No fractional shares will be issued in connection with the reverse stock split, and fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share. There will be no change in the par value of $0.001 per share of the common stock as a result of the reverse stock split.
As previously disclosed, at an annual meeting of stockholders held on May 22, 2025, the Company’s stockholders voted to approve a proposal granting the Company’s Board of Directors the discretion to amend the Company’s certificate of incorporation to effect a reverse stock split of the Company’s common stock at a ratio in the range from one-for-five to one-for-fifty. The Company’s Board of Directors approved a 1-for-15 reverse stock split on May 27, 2025. The reverse stock split is primarily intended to bring the Company into compliance with the $1.00 minimum bid price requirement for maintaining its listing on Nasdaq. There is no guarantee that the Company will meet the minimum bid price requirement, and even if it does, there is no guarantee that it will be able to meet all additional requirements for continued listing on Nasdaq.
Applied DNA’s transfer agent, Equiniti Trust Company, will provide information to stockholders regarding their stock ownership following the reverse stock split. Stockholders holding their shares in book-entry form or through a bank, broker, or other nominee do not need to take any action in connection with the reverse stock split. Their accounts will be automatically adjusted to reflect the number of shares owned. Beneficial holders are encouraged to contact their bank, broker, or other nominee with any procedural questions.
About Applied DNA Sciences
Applied DNA Sciences is a biotechnology company developing technologies to produce and detect deoxyribonucleic acid (“DNA”). Using the polymerase chain reaction (“PCR”) to enable both the production and detection of DNA, we operate in two business markets: (i) the enzymatic manufacture of synthetic DNA for use in the production of nucleic acid-based therapeutics and the development and sale of a proprietary RNA polymerase (“RNAP”) for use in the production of mRNA therapeutics; and (ii) the detection of DNA and RNA in molecular diagnostics and genetic testing services.
The statements made by Applied DNA in this press release may be “forward-looking” in nature within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe Applied DNA’s future plans, projections, strategies, and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of Applied DNA. These forward-looking statements are based largely on the Company’s expectations and projections about future events and future trends affecting our business and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements, including statements regarding the effective date of the reverse stock split and the trading of the common stock on a split-adjusted basis, the Company’s ability to timely implement the reverse stock split, the Company’s belief that the reverse stock split will allow the Company to regain compliance with Nasdaq listing standards, its goal to position the company for long term-growth and value creation, and the potential to achieve that goal, and regarding the future success of its LineaDNA™ and LineaIVT™ platforms. Actual results could differ materially from those projected due to the Company’s history of net losses, limited financial resources, substantial doubt regarding its ability to continue as a going concern, unknown future demand for its biotherapeutics products and services, the unknown amount of revenues and profits that will result from our LineaDNA and/or LineaIVT platforms, the fact that there has never been clinical trial material and/or a commercial drug product produced utilizing the LineaDNA and/or LineaIVT platforms, the unknown amount of revenues and profits that will result from its clinical laboratory testing services, as well as various other factors detailed from time to time in Applied DNA’s SEC reports and filings, including its Annual Report on Form 10-K filed on December 17, 2024, its Quarterly Reports on Form 10-Q filed on February 13, 2025, and May 15, 2025, and other reports it files with the SEC, which are available at www.sec.gov. Applied DNA undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date hereof or to reflect the occurrence of unanticipated events, unless otherwise required by law.
Terra Innovatum’s SOLO(TM) Micro-Modular Reactor Offers Safe, Affordable, and Reliable 24/7 Power Without Refueling for 15 Years Using Off-the-Shelf Readily Available Commercial Components and Licensed LEU Fuel
NEW YORK CITY, NEW YORK / ACCESS Newswire / May 29, 2025 / Terra Innovatum Srl (“Terra Innovatum,” or the “Company”), a developer of micro-modular nuclear reactors, today announced the submission of its response to the New York State Energy Research and Development Authority’s (“NYSERDA”) Advanced Nuclear Request for Information (“RFI”). The submission outlines plans for selecting a potential test reactor site for the Company’s first-of-a-kind micro-modular reactor, SOLO™, intent to establish a designated production unit, and further commercial deployment opportunities to support the state’s zero-emissions electricity target by 2040. Unlike conventional reactors, the compact footprint, modular design, and ability to operate for 15 years without refueling make SOLO™ well-suited for integration into local energy systems.
In Picture: Rendering of 3 SOLOTM units covering an area of approximately 3,600sqft in a public plaza (totaling 3MWe – 12MWt with Co-Generation).
“We believe SOLO™ represents a pivotal advancement in clean energy infrastructure,” said Alessandro Petruzzi – Co-founder & CEO of Terra Innovatum. “As electricity demand accelerates, driven by AI, data centers, and industrial manufacturing, solutions like SOLO™ will be critical to delivering reliable, zero-carbon power without placing additional strain on the grid. We are excited to showcase the promise of our technology in addressing the urgent energy needs for New York State and look forward to the opportunity to engage with NYSERDA on a potential test reactor site and deployment framework. Importantly, our response to NYSERDA marks the first of many steps toward deploying scalable, plug-and-play energy solutions across the U.S. and beyond. With its low-cost design, 24/7 output, and 15-year fuel cycle, SOLO™ is uniquely positioned to meet the needs of communities, government entities, and businesses seeking energy certainty in an increasingly electrified world.”
In Picture: Rendering of 500 SOLOTM units covering a total of 500 MWe – 2,000 MWt (Co-Generation) energy deployment.
Giordano Morichi – Partner, Chief Business Development Officer & Investor Relations at Terra Innovatum continued: “We see SOLO™ as a transformative and strategic opportunity for New York State to become a national leader in deploying advanced nuclear technologies that enhance energy security, grid resilience, and climate justice. Designed for real-world application, SOLO™ leverages a proven supply chain built entirely on licensed components that have been widely used in the nuclear industry for over 60 years. This approach eliminates the timing and cost risks associated with unlicensed fuels or research-phase technologies with no commercial availability. SOLO™’s inherently safe architecture, scalable deployment model, and cost certainty uniquely positions it to power the State’s industrial hubs, manufacturing sites, ports, transit systems, and data centers, while also revitalizing underserved urban and rural communities. It enables local energy independence, supports sustainable construction, and strengthens resilient infrastructure. In doing so, SOLO™ offers the Empire State a carbon-free, economically competitive energy backbone to meet New York clean energy goals at scale.”
“Safety is our top priority,” affirmed Cesare Frepoli – Co-Founder, COO & Director of Regulatory Affairs at Terra Innovatum. “The compact footprint of SOLO™-approximately 30 ft x 30 ft-combined with its modularity and embedded safeguards, allows for seamless integration in a wide range of environments without the need for expansive emergency planning zones. Its innovative reactor core design is gas cooled by helium, incorporates licensed, off-the-shelf components and utilizes non-proliferant low-enriched uranium (LEU) fuel, which significantly reduces regulatory risk and enhances safety. There is also no water involved in the system, eliminating the risk of hydrogen generation or explosion. Additionally, on top of the various redundancies, the reactor’s inherently low thermal output ensures it operates well below fuel melting thresholds, further reinforcing its passive safety profile,” Dr. Frepoli concluded.
SOLO™ can be deployed across a wide range of environments-including dense urban centers, critical infrastructure corridors, and remote industrial zones-without compromising public security. Its use of non-proliferant, licensed nuclear fuel and embedded safeguards ensures a secure and compliant solution. SOLO™ can be a powerful asset in supporting New York State’s clean energy leadership while simultaneously reinforcing grid resilience, advancing environmental and energy priorities, and driving long-term, sustainable economic growth.
Guided by New York’s Climate Leadership and Community Protection Act, which targets a zero-emissions electricity sector by 2040, NYSERDA’s RFI seeks innovative nuclear solutions to support the state’s energy transformation. Terra Innovatum’s proposal outlines potential deployment scenarios for SOLO™, including site considerations, partners, timeline, and use cases. The Company remains open and eager to engage further with NYSERDA to help advance the role of advanced nuclear energy in New York’s grid.
Recent Highlights
Terra Innovatum recently announced a proposed business combination with GSR III Acquisition Corp., positioning the Company to accelerate its mission of delivering zero-carbon, cost-efficient, and reliable power. SOLO™ is the first micro-modular reactor designed for operation on widely available Low-Enriched Uranium (LEU) and is built using commercial off-the-shelf components, enabling a simplified regulatory pathway and reduced construction timelines. Earlier this year, Terra Innovatum submitted its regulatory engagement plan to the U.S. Nuclear Regulatory Commission (NRC), a critical step toward its targeted first commercial deployment in 2028.
ABOUT NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY (NYSERDA)
NYSERDA offers objective information and analysis, innovative programs, technical expertise, and support to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce reliance on fossil fuels. A public benefit corporation, NYSERDA has been advancing energy solutions and working to protect the environment since 1975.
ABOUT TERRA INNOVATUM & SOLOTM
Terra Innovatum is a pioneering force in the energy sector, dedicated to delivering innovative and sustainable power solutions. Terra Innovatum plans to leverage cutting-edge nuclear technology through the SOLO™ Micro-Modular Reactor (SMR™) to provide efficient, safe, and environmentally conscious energy. With a mission to address global energy shortages, Terra Innovatum combines extensive expertise in nuclear industry design, manufacturing, and installation licensing to offer disruptive energy solutions. Committed to propelling technological advancements, Terra Innovatum and SOLO™ are dedicated to fostering prosperity and sustainability for humankind.
It is anticipated that SOLO™ will be available globally within the next three years. Conceptualized in 2018 and engineered over six years by experts in nuclear safety, licensing, innovation, and R&D, SOLO™ addresses pressing global energy demands with a market-ready solution. Built from readily available commercial off-the-shelf components, the proven licensing path for SOLO™ enables rapid deployment and minimizes supply chain risks, ensuring final cost predictability. Designed to adapt with evolving fuel options, SOLO™ supports both LEU+ and HALEU, offering a platform ready to transition to future fuel supplies.
SOLO™ will offer a wide range of versatile applications, providing CO2-free, behind-the-meter, and off-grid power solutions for data centers, mini-grids serving remote towns and villages, and large-scale industrial operations in hard-to-abate sectors like cement production, oil and gas, steel manufacturing, and mining. It also has the ability to supply heat for industrial applications and other specialized processes, including water treatment, desalination and co-generation. Thanks to its modular design, SOLO™ can easily scale to deliver up to 1GW or more of CO2-free power with a minimal footprint, making it an ideal solution for rapidly replacing fossil fuel-based thermal plants. Beyond electricity and heat generation, SOLO™ can also contribute to critical applications in the medical sector by producing radioisotopes essential for oncology research and cancer treatment.
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval.
In connection with the business combination, a Dutch public limited liability company (“Pubco”), GSR III Acquisition Corp. (“GSRT”) and Terra Innovatum s.r.l. (“Terra Innovatum” and, together with GSRT and Pubco, the “Registrant Parties”) have filed with the SEC a registration statement on Form S-4 (the “Registration Statement”), which includes a preliminary prospectus of Pubco relating to the offer of securities to be issued in connection with the business combination, and a preliminary proxy statement of GSRT to be distributed to holders of GSRT’s ordinary shares in connection with GSRT’s solicitation of proxies for a vote by GSRT’s shareholders with respect to the Business Combination and other matters described in the Registration Statement. The Registrant Parties also plan to file other documents with the SEC regarding the business combination. After the Registration Statement has been declared effective by the SEC, a definitive proxy statement/prospectus will be mailed to the shareholders of GSRT. INVESTORS OF THE REGISTRANT PARTIES ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS CONTAINED THEREIN (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND ALL OTHER DOCUMENTS RELATING TO THE BUSINESS COMBINATION THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION.
Investors will be able to obtain free copies of the proxy statement/prospectus and other documents containing important information about the Registrant Parties once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov. In addition, the documents filed by GSRT may be obtained free of charge by written request to GSRT at 5900 Balcones Drive, Suite 100, Austin TX 78731.
PARTICIPANTS IN THE SOLICITATION
Each of the Registrant Parties, and their respective directors and executive officers, may be considered participants in the solicitation of proxies with respect to the potential transaction described in this communication under the rules of the SEC. Information about the directors and executive officers of GSRT is set forth in GSRT’s filings with the SEC. Information regarding other persons who may, under the rules of the SEC, be deemed participants in the solicitation of the shareholders in connection with the potential transaction and a description of their direct and indirect interests will be set forth in the Registration Statement (and will be included in the proxy statement/prospectus) and other relevant documents when they are filed with the SEC. These documents can be obtained free of charge from the sources indicated above.
FORWARD LOOKING STATEMENTS
The statements contained in this press release that are not purely historical are forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding our expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on GSRT and the other Registrant Parties. There can be no assurance that future developments affecting GSRT and the other Registrant Parties will be those that we have anticipated. These forward-looking statements speak only as of the date this press release is delivered and involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreements with respect to the Business Combination; (2) the outcome of any legal proceedings that may be instituted against GSRT, any of the Registrant Parties, the combined company or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (3) the inability to complete the Business Combination due to the failure to obtain approval of the shareholders of GSRT or the SEC’s declaration of the effectiveness of the Registration Statement (which will include the proxy statement/prospectus contained therein) to be filed by the Registrant Parties or to satisfy other conditions to closing; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (5) the ability of Pubco to meet stock exchange listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of Terra Innovatum as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the Business Combination, including the reorganization described in the business combination agreement; (9) changes in applicable laws or regulations; (10) the possibility that the Registrant Parties or the combined company may be adversely affected by other economic, business, and/or competitive factors; (11) the amount of redemption requests made by GSRT shareholders and (12) other risk factors described herein as well as the risk factors and uncertainties described in the Form S-4 and GSRT’s other filings with the SEC, as well as any further risks and uncertainties to be contained in the proxy statement/prospectus filed after the date hereof. In addition, there may be additional risks that neither GSRT nor any of the other Registrant Parties presently know, or that GSRT or the other Registrant Parties currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this communication should be regarded as a representation by any person that the forward- looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made.
None of GSRT, the other Registrant Parties, or any of their respective affiliates, officers, employees or agents, makes any representation or warranty, either express or implied, in relation to the fairness, reasonableness, adequacy, accuracy, completeness or reliability of the information, statements or opinions, whichever their source, contained in this press release or any oral information provided in connection herewith, or any data it generates and accept no responsibility, obligation or liability (whether direct or indirect, in contract, tort or otherwise) in relation to any of such information. GSRT, the other Registrant Parties and their respective affiliates, officers, employees and agents further expressly disclaim any and all liability relating to or resulting from the use of this press release and any errors therein or omissions therefrom. Further, the information contained herein is preliminary, is provided for discussion purposes only, is only a summary of key information, is not complete and is subject to change without notice.
In addition, the information contained in this press release is provided as of the date hereof and may change, and neither GSRT nor the other Registrant Parties undertakes any obligation to update or revise any forward- looking statements, whether as a result of new information, inaccuracies, future events or otherwise, except as may be required under applicable securities laws.
TAMPA, FLORIDA / ACCESS Newswire / May 29, 2025 / Wellgistics Health, Inc. (NASDAQ:WGRX), a healthcare infrastructure company transforming the prescription drug ecosystem, today announced its preliminary inclusion in the Russell 2000 and Russell 3000 Indexes, as part of the 2025 Russell US Indexes annual reconstitution. FTSE Russell released the preliminary list of additions and deletions to the Russell 2000 and Russell 3000 Indexes on Friday, May 23, with final inclusion expected to take effect following the close of the U.S. equity market on Friday, June 27, 2025.
The Russell 3000 Index encompasses the 3,000 largest U.S. companies by market capitalization, representing approximately 98% of the investable U.S. equity market. The Russell 2000 Index is a subset of the Russell 3000, measuring the performance of the small-cap segment. These indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.
“Wellgistics Health’s preliminary inclusion in the Russell 2000 and Russell 3000 indexes marks an important milestone in our company’s journey,” said Brian Norton, CEO of Wellgistics Health. “This recognition enhances our visibility among the broader investment community, supports increased institutional interest and ownership in our stock, and serves as strong validation of our team’s ability to execute on our business plan and drive value to our shareholders.”
About Wellgistics Health
Wellgistics Health, Inc. is a publicly traded healthcare infrastructure company redefining how medications move, are priced, and reach patients. The company operates across pharmaceutical distribution, prescription technology, and clinical fulfillment-connecting over 150 direct manufacturer contracts to a nationwide network of over 6,000 independent pharmacies.
Wellgistics Health provides real-time prescription hub services, compliance-driven logistics, and patient-first fulfillment solutions, while equipping pharmacies with integrated financial, clinical, and digital tools. Its end-to-end platform supports a broad range of therapeutic areas from specialty-lite to chronic maintenance medications by eliminating friction, accelerating reimbursements, and enabling direct, transparent connections between manufacturers, providers, pharmacies, and patients.
This press release may contain forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When Wellgistics Health uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. These forward-looking statements include, without limitation, Wellgistics Health’s statements regarding Wellgistics Health’s strategy and descriptions of its future operations, prospects, and plans, including without limitation its plan in connection with certain financings and cryptocurrencies and outlook and actions with respect to incurring future expenses. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from Wellgistics Health’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other risks detailed in our reports and statements filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in Wellgistics Health’s filings with the SEC, which are available for review at www.sec.gov.
Investor Relations Contact: Skyline Corporate Communications Group, LLC Scott Powell, President 1177 Avenue of the Americas, 5th Floor New York, NY 10036 Office: (646) 893-5835 Email: info@skylineccg.com
INDIANAPOLIS, INDIANA / ACCESS Newswire / May 29, 2025 / Dan O’Toole, CEO of Arrive AI (NASDAQ:ARAI), an autonomous delivery network anchored by patented AI-powered Arrive Points™, is scheduled to take part in a fireside chat at the “2025 Virtual Tech Conference: Discover the Innovations Reshaping Tomorrow” Presented by Maxim Group LLC on Tuesday, June 3, 2025, at 12 noon EDT.
The rapid evolution of technology is paving the way for disruption across all industries, including healthcare, drones, consumer IoT, business solutions, gaming & entertainment, and more. Maxim’s 2025 Virtual Tech Conference participants will explore how emerging growth companies are expanding their use of Quantum Computing and Artificial Intelligence (AI) to position themselves for the future. Maxim Senior Analysts will facilitate engaging dialogues with CEOs and key management of diverse companies who have their attention on technology and how it will impact and grow their business.
Arrive AI, which made its public debut on the Nasdaq in May, makes autonomous delivery work, ensuring security and chain-of-custody to the intended recipients at the right time. O’Toole’s fireside chat will focus on how Arrive AI is removing friction in the delivery industry with its patented, autonomous delivery network anchored by patented AI-powered Arrive Points™, the various problems it solves, the autonomous delivery ecosystem and regulations that affect it.
The chat will be live on M-Vest. Audience members must register to attend. A video replay will be available shortly afterward. To attend, sign up to become an M-Vest member. Click here to learn more and reserve your seat
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About Maxim Group LLC
Maxim Group LLC is a full-service investment banking, securities and wealth management firm headquartered in New York. The Firm provides a full array of financial services including investment banking; private wealth management; and global institutional equity, fixed-income and derivatives sales & trading, equity research and prime brokerage services. Maxim Group is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB) and is a member of FINRA SIPC, and NASDAQ. To learn more about Maxim Group, visit maximgrp.com
About Arrive AI
Arrive AI’s patented Autonomous Last Mile (ALM) platform enables secure, efficient delivery to and from a smart, AI-powered mailbox, whether by drone, ground robot or human courier. The platform provides real-time tracking, smart logistics alerts and advanced chain of custody controls to support shippers, delivery services and autonomous networks. By combining artificial intelligence with autonomous technology, Arrive AI makes the exchange of goods between people, robots and drones frictionless and convenient. Its system integrates with smart home devices such as doorbells, lighting and security systems to streamline the entire last-mile delivery experience. Learn more at www.arriveai.com and see our press kit here.
This news release and statements of Arrive AI’s management in connection with this news release or related events contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements (including statements related to the closing, and the anticipated benefits to the Company, of the private placement described herein) related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would”, “optimistic” or “may” and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors which may be beyond our control. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. Potential investors should review Arrive AI’s Registration Statement for more complete information, including the risk factors that may affect future results, which are available for review at www.sec.gov. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.
VANCOUVER, BC / ACCESS Newswire / May 29, 2025 / CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) (“CoTec” or the “Company”) is pleased to announce that it has filed its unaudited interim condensed consolidated financial statements and the accompanying management discussion and analysis (“MD&A”) for the three months ended March 31, 2025. The financial statements and MD&A can be accessed under the Company’s SEDAR profile at www.sedarplus.ca .
Julian Treger, CoTec CEO commented; “CoTec had an exceptional start to the year. Our main priority for the quarter was the continued roll-out of HyProMag USA, our Joint Venture U.S. based rare earth elements (“REE”) magnet recycling and permanent magnet manufacturing Project. HyProMag USA selected its preferred bidder for engineering, procurement and construction management (“EPCM”) services, culminating in the engagement of PegasusTSI Inc. (“Pegasus”) and BBA USA Inc. (“BBA”) and the commencement of the detailed design and engineering phase shortly after quarter-end. We have also expanded the scope of the detailed engineering to include three HPMS [i] vessels and initiated concept studies for further expansion and complementary “Long Loop” Recycling.”
“The Project will play a key role in supporting the U.S. strategy of reshoring manufacturing capability, reducing dependence on foreign magnets and rare earths, which is a top priority for the Trump administration. The increased production capacity could also allow the flexibility to produce a wider range of products and specialist magnets, further improving both financial returns and the Project’s ability to become a supplier of choice. HyProMag USA is continuing its ongoing discussions with high-ranking officials in the U.S. Government regarding financial support and project acceleration. The HPMS process remains extremely cost competitive and has independently quantified its exceptionally low CO 2 footprint compared to industry alternatives.
“CoTec secured two new complementary critical mineral technologies targeting the use of Multi-Gravity Technology for the recovery of ultra fine iron and manganese and a joint collaboration with McGill University, Québec, Canada (“McGill”) “WaveCracker TM ” which will investigate extended applications of microwave technologies with the aim of improving low-carbon, economic recovery of valuable metals from a range of mineral targets, with a starting focus on copper recoveries particularly in advanced sulphide leaching application.”
“CoTec believes the significant strategic and commercial value presented by our 60.3 % direct and indirect stake in HyProMag USA combined with the value of our Lac Jeannine project and our other investments, far exceed our current share price. We are encouraged by recent improvements in our share price, but our market valuation still significantly lags the recent uplift in our REE peer group and the disconnect between our share price and the intrinsic value of our assets remains material. We are working hard to address this matter through various investor outreach programs which have been initiated.”
The Company announced a comprehensive loss for the quarter of $1,7 million mainly driven by G&A expenses of $709k and non-cash foreign exchange losses on equity investments and share based compensation of $200k and $269k respectively.
Highlights for the quarter include:
Operational
Invested US$148,500, and US$132,071 into MagIron LLC (“MagIron”) on February 4, 2025, and on March 25, 2025, respectively to maintain its undiluted equity interest
Completed the selection process and commenced negotiations with Pegasus and BBA for their engagement to provide EPCM services for HyProMag USA project with an engagement contract signed on April 20, 2025. Environment and permitting studies will be supported by U.S.-based Weston Solutions, Inc.
Commenced Project WaveCracker TM with McGill University, Québec, targeting the application of microwave technology to accelerate sulphide copper leaching
Entered exclusivity and collaboration agreement with Salter for the use of its multi-gravity technology for the recovery of ultra fine iron and manganese
HyProMag USA expanded detailed design and engineering phase to include three hydrogen processing of magnet scrap (“HPMS”) vessels and initiate concept studies for further expansion, including long loop recycling
HyProMag USA completed independent ISO-Compliant Product Carbon Footprint Study with Minviro Limited (“Minviro”). Minviro confirmed an exceptionally low CO 2 footprint of 2.35 kg CO 2 eq. per kg of NdFeB cut sintered block
Corporate
Executive informational overview report on the Company released by Crystal Research Associates LLC. on February 18, 2025
Drew down $500k on January 6, and February 6, 2025, respectively on the Kings Chapel Convertible Loan Agreement
Agreed an amendment to the Convertible Loan Agreement with Kings Chapel International Limited on February 28, 2025. Pursuant to the amendment, the principal amount available to the Company under the Convertible Loan Agreement was increased by up to $2.5 million. All other terms remain unchanged
Drew down an additional $500 under the Kings Chapel Convertible Loan Agreement on March 5, and March 19, 2025, respectively
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About CoTec
CoTec is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange (“TSX-V”) and the OTCQB and trades under the symbols CTH and CTHCF respectively. CoTec Holdings Corp. is a forward-thinking resource extraction company committed to revolutionizing the global metals and minerals industry through innovative, environmentally sustainable technologies and strategic asset acquisitions. With a mission to drive the sector toward a low-carbon future, CoTec employs a dual approach: investing in disruptive mineral extraction technologies that enhance efficiency and sustainability while applying these technologies to undervalued mining assets to unlock their full potential. By focusing on recycling, waste mining, and scalable solutions, the Company accelerates the production of critical minerals, shortens development timelines, and reduces environmental impact. CoTec’s strategic model delivers low capital requirements, rapid revenue generation, and high barriers to entry, positioning it as a leading mid-tier disruptor in the commodities sector.
Statements in this press release regarding the Company and its investments which are not historical facts are “forward-looking statements” which involve risks and uncertainties, including statements relating to the roll out of its HyProMag USA and Lac Jeannine projects and its investment in Salter, as well as management’s expectations with respect to other current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements, due to known and unknown risks and uncertainties affecting the Company, including but not limited to resource and reserve risks; environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social disruptions. For further details regarding risks and uncertainties facing the Company please refer to “Risk Factors” in the Company’s filing statement dated April 6, 2022, a copy of which may be found under the Company’s SEDAR profile at www.sedar.com. The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release and are encouraged to read the Company’s continuous disclosure documents which are available on SEDAR at www.sedar.com.
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 news release.
Gold equivalent production of 11,163 Gold Equivalent Ounces (“GEO”) for Q1
Full year guidance of 55,000-60,000 GEO maintained
Adjusted EBITDA of $4.8 million for Q1, 2025 and Cash balance over US$20m
Management to host conference call on 29th of May, 11AM EDT
TORONTO, ON / ACCESS Newswire / May 29, 2025 / Cerrado Gold Inc. (TSX.V:CERT)(OTCQX:CRDOF)(FRA:BAI0) (“Cerrado” or the “Company“) announces its operational and financial results for the first quarter (“Q1/25”) including its Minera Don Nicolas (“MDN“) gold mine in Santa Cruz Province, Argentina, and its Mont Sorcier High Purity DRI Iron Project in Quebec.
Production results for MDN were previously released on April 15, 2025. The Company’s financial results are reported and available on SEDAR+ (www.sedarplus.com) and the Company’s website (www.cerradogold.com).
Q1/25 MDN Operating Highlights
Q1/25 production of 11,163 GEO and AISC of $1,932/oz
Unit costs set to decline as production increases (target US$1,500-1,700)
Q1/25 Adjusted EBITDA of $4.8 million
Record heap leach production of 6,897 GEO During the Quarter
Secondary crusher operational and underground development started
Operational results for the first quarter saw gold production in line with Q1/24, with the heap leach operation reaching a new production record of 6,897 GEO for the quarter. The expanded crusher is now fully operational and the quantity of ore being placed on the pad has increased. With higher gold prices, the CIL plant continues to process lower-grade stockpiles and is planned to continue processing low grade stockpiles through Q2/25, after which it will be blended with new high-grade material from the underground mining operations which will increase the average grade throughput at the mill.
Mark Brennan, CEO and Chairman commented, “The results from the first quarter demonstrate robust and improving production from our Heap leach operations; delivering strong cashflow to support our growth initiatives. We have successfully expanded and improved our crushing capacity at MDN, which will yield greater production and cashflows moving forward. Likewise, the preparation for underground development and production have added costs but will add to our production and cash flows starting in July. The strong cash flow combined with our cash balance has enabled us to continue to pay down debt at MDN, and will allow us to continue to deploy capital at our high-grade Mont Sorcier DRI iron project and our well advanced and highly prospective Lagoa Salgada Project.”
Operating Results for the Quarter
The addition of the new crusher circuit was completed just after quarter end, providing increased ore availability to the pad. While supporting higher production, additional crushing facilities are also expected to reduce the feed size to the pad and thus improve recoveries. As the reduced size feed and larger pad stockpiles are leached, it should lead to higher production rates and unit costs are expected to decline as a result.
Post quarter end saw the initiation of activities at our underground operation. The Paloma pit has been dewatered, orders for long lead items have been placed and initial development of the portal commenced in May. The development of the underground remains on schedule for initial production during the 3rd quarter of this year.
Cerrado has continued to make improvements to its balance sheet during the quarter. The cash balance remained strong at over US$20m as at March 31, 2025, while debt levels and payables continued to fall. The Company recently announced it had made the final payment to the Sellers of its MDN property, reducing an additional US$5m in debt.
The focus at MDN remains to ramp up production rates at its heap leach operation to 4,000-4,500 GEO per month, initiate underground production from the Paloma area in Q3, and ramp up a new targeted exploration program across our 330k Ha property targeted to increase resources and mine life. The Company is well positioned to continue its debt and payables reduction program at MDN as well as to fund future development and exploration at MDN and push forward its development projects in Quebec and in Portugal. In Portugal, we aim to complete the optimized feasibility study in Q3 and reach a construction decision by year end. In Quebec, work on advancing the feasibility study for the Mont Sorcier High grade iron project formally commenced during the quarter and remains on target for completion in Q1/2026.
Q1 Financial Performance
Table 1. Q1 2025 Operational and Financial Performance
The Company produced 11,163 gold equivalent ounces (“GEO”) during the three months ended March 31, 2025, as compared to 11,204 GEO for the three months ended March 31, 2024. Production is consistent with the prior year period. In the period ended March 31, 2025, heap leach production was significantly higher compared to prior year due to 36% higher gold head grade, 53% higher recovery and 462,000 additional tonnes placed on the pad. This was offset by a 6,136 ounce decrease in production from the CIL operation as the Company’s focus moved towards heap leach operations in 2025 and the plant only processed low grade ore in Q1 2025.
The Company generated revenue of $28.8 million for the three months ended March 31, 2025, from the sale of 10,992 ounces of gold and 42,623 ounces of silver at an average realized price per gold ounce sold of $2,520. For the three months ended March 31, 2024, the Company generated revenue of $20.4 million from the sale of 10,120 ounces of gold 18,749 ounces of silver. Revenue is higher for the three months ended March 31, 2025 as compared to the three months ended March 31, 2024, due primarily to higher production and the average realized gold price.
Cost of sales for the three months ended March 31, 2025, were $26.6 million as compared to $23.6 million for the three months ended March 31, 2024. The Company incurred $3.0 million higher production costs for the three months ended March 31, 2025 due to higher costs of equipment rentals, and higher labour costs in 2025 as compared to 2024.
Total cash costs (including royalties) per ounce sold was $1,902 per ounce in the three months ended March 31, 2025, as compared to $2,042 per ounce for the three months ended March 31, 2024 a $140 per ounce or 7% decrease (refer to reconciliation of Non-IFRS performance metrics). The decrease is a result of higher ounces sold in 2025 as compared to 2024.
Net loss from continued and discontinued operations for the three months ended March 31, 2025, was $4.2 million as compared to a net loss of $7.3 million for the three months ended March 31, 2024. The decrease in net loss is primarily a result of $8.4 million increase in metal sales, $0.4 million decrease in general and administrative expenses, offset by higher depreciation expense of $2.1 million and an increase in loss on remeasurement of MDN stream obligation of $1.4 million.
The Company incurred general and administrative expenses of $2.1 million for the three months ended March 31, 2025, as compared to $2.4 million of general and administrative expenses incurred during the three months ended March 31, 2024. The decrease was primarily as result of a decrease in stock-based compensation of $0.6 million, and professional fees of $0.1 million for the three months ended March 31, 2025.
Other loss of $3.7 million during the three months ended March 31, 2025, includes finance expense of $2.1 million and loss on fair value remeasurement of MDN stream obligation of $3.3 million offset by finance income of $0.9million and foreign exchange gain of $0.9 million.
Hedging Program
On April 26, 2025 the Company extended its limited hedging program with Ocean Partners UK Ltd. The hedge is constructed as a zero-cost collar with lower and upper boundaries of US$3,100 and US$3,250 per ounce respectively. The hedging volume is for 2,000 ounces per month for a period of 7 months beginning May 2025 and terminating on December 2025. With the expanded hedging program, the Company is focused on ensuring more than sufficient cash flows to further enhance its balance sheet and support funding requirements for its various growth projects.
Outlook
Entering the second quarter of 2025 and beyond, Cerrado’s MDN Heap Leach operations are set to benefit from the completion of its crushing infrastructure to grow and improve production. Higher gold prices have enabled the plant to remain operational by processing lower grade stockpiles through March and April. The underground operations have begun and production is expected to begin in Q3.
As noted in the Press Release dated April 15, 2025, the Company raised its 2025 annual production guidance to 55,000 – 60,000 GEO. AISC costs are expected to be modestly higher than previously anticipated with an AISC of between $1,500 – $1,700 per GEO. The increased costs are the result of the inclusion of underground mining, ongoing processing of low-grade ores and continued inflationary pressure in Argentina.
A new Exploration initiative began in Q1 with the focus on growing the known resources at MDN beyond those outlined in the recent Mineral Resource Estimate (“MRE”). The focus remains on defining high grade-near surface targets that can readily be brought into the mine plan, underground exploration and a regional program to better understand the potential of known anomalies on the significant land package Cerrado holds at MDN. Drilling is expected to commence in early June.
At the Mont Sorcier high grade and high purity DRI iron project operated by Cerrado’s wholly owned subsidiary Voyager Metals Inc., work continued to advance the project with several workstreams related to permitting, social license and the initiation of the Feasibility Study which is targeted to be completed during Q1 2026. The high quality of the concentrate, grading over 67% iron, from the Mont Sorcier project is well positioned to support growing demand from the global Green Steel transition due to the reduced emissions generated by steel producers using high grade concentrates.
The Company recently closed the acquisition of all of the outstanding common shares of Ascendant Resources Inc. not already owned by the Company. The Company will continue to advance the Lagoa Salgada VMS project through several key workstreams, including the ongoing metallurgical test work, which is currently on track to be completed towards the end of Q2 2025, completion of the optimized feasibility study by Q3 2025 and advancing the approval in the Environment Impact Assessment, expected to be received in June. The Company remains focused on advancing the Project to reach a construction decision , which is currently expected by year end.
Conference Call Details
Cerrado Management will host a conference call on May 29, 2025, at 11:00 AM EDT to discuss the Q1 Financial and Operational results. The presentation for the call can be found on the investor page on Cerrado Gold’s website at cerradogold.com. Call details are as follows:
Pre-Registration for Conference Call
Participants can preregister for the conference by navigating to:
Participants will receive dial-in numbers to connect directly upon registration completion.
Those without internet access or unable to pre-register may dial in by calling:
PARTICIPANT DIAL IN (TOLL FREE): 1-833-752-3576
PARTICIPANT INTERNATIONAL DIAL IN: 1-647-846-8340
Review of Technical Information
The scientific and technical information in this press release has been reviewed and approved by Andrew Croal P.Eng, Chief Technical Officer for Cerrado Gold, who is a Qualified Person as defined in National Instrument 43-101.
About Cerrado
Cerrado Gold is a Toronto-based gold production, development, and exploration company. The Company is the 100% owner of the producing Minera Don Nicolás and Las Calandrias mine in Santa Cruz province, Argentina. In Portugal, the Company holds an 80% interest in the highly prospective Lagoa Salgada VMS project through its position in Redcorp – Empreendimentos Mineiros, Lda. In Canada, Cerrado Gold is developing its 100% owned Mont Sorcier Iron project located outside of Chibougamou, Quebec..
In Argentina, Cerrado is maximizing asset value at its Minera Don Nicolas operation through continued operational optimization and is growing production through its operations at the Las Calandrias heap leach project. An extensive campaign of exploration is ongoing to further unlock potential resources in our highly prospective land package in the heart of the Deseado Masiff.
In Portugal, Cerrado focused on the exploration and development of the highly prospective Lagoa Salgada VMS project located on the prolific Iberian Pyrite Belt in Portugal. The Lagoa Salgada project is a high-grade polymetallic project, demonstrating a typical mineralization endowment of zinc, copper, lead, tin, silver, and gold. Extensive exploration upside potential lies both near deposit and at prospective step-out targets across the large 7,209-hectare property concession. Located just 80km from Lisbon and surrounded by exceptional infrastructure, Lagoa Salgada offers a low-cost entry to a significant exploration and development opportunity, already showing its mineable scale and cashflow generation potential.
In Canada, Cerrado holds a 100% interest in the Mont Sorcier Iron project, which has the potential to produce a premium iron ore concentrate over a long mine life at low operating costs and low capital intensity. Furthermore, its high grade and high purity product facilitates the migration of steel producers from blast furnaces to electric arc furnaces, contributing to the decarbonization of the industry and the achievement of sustainable development goals.
For more information about Cerrado please visit our website at: www.cerradogold.com.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This press release contains statements that constitute “forward-looking information” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements contained in this press release include, without limitation, statements regarding the business and operations of Cerrado, anticipated continued improvements in operating results and working capital position, expectations regarding the CIL plant processing lower grade stockpiles, the potential for improvement at MDN’s heap leach operation, expectations regarding improvements in operating costs at MDN including AISC, additional capacity being added at the heap leach operation, the potential of and timing for the anticipated underground operation at MDN the anticipated timing of completing the feasibility study at the Mont Sorcier project, the potential for a construction decision at Lagoa Salgada by year end and the expected timing and likelihood of receiving approval of the environmental impact assessment at Lagoa Salgada.. In making the forward- looking statements contained in this press release, Cerrado has made certain assumptions. Although Cerrado believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release. Except as required by law, Cerrado disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS.
CASCAIS, PORTUGAL / ACCESS Newswire / May 29, 2025 / Pulsar Helium Inc. (AIM:PLSR)(TSXV:PLSR)(OTCQB:PSRHF) (“Pulsar” or the “Company“), the helium project development company, is pleased to announce its financial and operating results for the six months ended March 31, 2025 (the “Period“).
Selected financial and operational information is outlined below and should be read in conjunction with the Company’s unaudited consolidated financial statements and related management’s discussion and analysis (the “MD&A“) for the Period, which are available on the Company’s website at www.pulsarhelium.com and the Company’s SEDAR+ profile at www.sedarplus.ca.
All figures are in US dollars (“US$“) unless otherwise stated.
The Company’s primary focus is the exploration and development of the Topaz Project, located in northern Minnesota, USA, close to the Canadian border. The Company’s assets within the Topaz Project comprise leases of private mineral rights over a total of 5,979 gross acres in Minnesota, where the State of Minnesota passed new helium-targeted legislation in May 2024 providing increased certainty of developing the project. The Topaz Project comprises primarily helium (with the gas not being a by-product of hydrocarbon production), representing a more sustainable development project.
Operational Highlights in the Period
On January 13, 2025, the Company announced the successful completion of the deepening operation for the Jetstream #1 appraisal well. The drilling operation reached total depth (“TD”) of 5,100 feet (1,555 metres) on January 11, 2025, successfully penetrating the entire interpreted helium-bearing reservoir and beyond.
On February 3, 2025, the Company announced the successful completion of a drilling operation at the Jetstream #2 appraisal well, reaching total depth of 5,638 feet (1,718 metres) on February 1, 2025. Mud log data reported helium levels up to 3.5%, which were proved to be contaminated with air and uncontaminated samples, once collected, are expected to report higher and truer levels.
On February 20, 2025, the Company announced that down-hole testing equipment is scheduled to mobilise to site on February 24, 2025. The tools consist of an optical televiewer and LithoScanner, both of which will be run on both the Jetstream #1 and #2 appraisal wells. These tests will further refine the Company’s understanding of the reservoir properties and production potential.
On April 28, 2025, the Company announced that pressure and flow testing operations were conducted on the Jetstream #1 and Jetstream #2 appraisal wells with well-head pressure at both being highly encouraging, reaching 122 pounds per square inch gauge (“PSIG”) at Jetstream #1 and 151 PSIG at Jetstream #2. Well-head pressure at Jetstream #2 is greater than Jetstream #1 was in February 2024 (145 PSIG) when it achieved a flow rate of 821,000 cubic feet per day, under well-head compression.
During flow testing activities, it was discovered that drilling fines (rock dust) created by the air drilling method (that pulverizes the rock) were present within fractures and partially coating the wellbore wall. The creation of drilling fines is commonplace when air drilling. Although gas flow may be restricted, pressure communication still occurs (albeit also constrained) which is why the Company was unaware of the restricted flow until testing commenced.
The Company has performed a preliminary clean-up on both wells to mobilise the drilling fines, achieving improved flow results, demonstrating that the drilling fines are mobile and can be removed. Despite the currently restricted conditions, stable and consistent flow rates were achieved with both wells flowing natural flow and on compression.
Further flow testing of both wells will commence when clean-up is complete and the drilling fines have been removed.
Financial Summary for the Period
Loss for the Period was $7,118,554 and comprises:
Administration costs of $1,955,208 (which includes non-cash share-based compensation of $299,943 and non-cash depreciation of $26,489).
Exploration and evaluation expenditures of $5,771,409 relate to the deepening of Jetstream #1 and drilling of Jetstream #2 at the Topaz project as described above.
Listing fees of $355,003 related to Admission.
A non-cash gain on revaluation of warrant liability of $963,006.
Funding and Cash Position: $1,659,888 at March 31, 2025.
On October 18, 2024, the Company’s common shares commenced trading (the “Admission“) on the AIM market of the London Stock Exchange plc (“AIM“) under the symbol PLSR. Concurrent with Admission, the Company completed of a total gross funding of £5 million which included the £1.125 million cornerstone investment completed in August 2024.
On January 9 and March 21, 2025, the Company completed a brokered private placement, in two tranches, for gross proceeds of $2,427,498 which included participation from high net worth and institutional investors from the USA, including University Bancorp, Inc. (“University Bancorp“) that now holds 4.93% of the issued and outstanding common shares of the Company.
In April 2025, the Company entered into a project financing facility line of credit note with University Bancorp, pursuant to which University Bancorp has extended the Company a $4,000,000 project finance facility (the “Facility“). In April and May, 2025, the Company drew, in aggregate, $2,000,000 of the Facility.
Selected Financial Results
Six months ended March 31, 2025
Six months ended March 31, 2024
Statement of Loss:
Revenue
$Nil
$Nil
Net loss
$
7,118,554
$
20,092,828
Basic and diluted loss per common share
$
0.06
$
0.24
Financial Position:
Total assets
$
2,941,370
$
2,910,871
Total liabilities
$
5,349,970
$
15,247,063
* During the Period, the Company recorded a non-cash gain on revaluation of warrant liability of $963,066 (2024 – loss of $13,037,216)
Thomas Abraham-James, President & CEO of Pulsar, commented: “We are extremely encouraged by the progress made at the Topaz Project during the first half of 2025. The successful drilling and flow testing of both Jetstream #1 and #2 appraisal wells, along with the positive well-head pressures recorded, reinforce the significant potential of our Topaz primary helium project. With the support of recent project financing and ongoing technical advancements, Pulsar is well-positioned to unlock further value for our shareholders and advance towards sustainable helium production.”
Marketing Engagement and Clarification on Marketing Engagement
The Company also announces the engagement of Oak Hill Financial Inc. (the “Oak Hill Engagement“).
Oak Hill Financial Inc. (“Oak Hill“) is a Toronto, Ontario, Canada based capital market advisory firm that provides advisory and capital markets services to private and public growth companies. The Company signed an agreement with Oak Hill on May 28, 2025, for a monthly fee of CAD$7,200, to be paid in cash, with the services commencing on June 2, 2025 (the “Effective Date“), and expiring 3 (three) months from the Effective Date, after which the agreement will renew on a month to month basis unless terminated by either party with five (5) days’ notice. Oak Hill has advised the Company that it does not hold any securities of or other interest in the Company. Oak Hill and the Company are unrelated and unaffiliated entities.
The Oak Hill Engagement remains subject to the approval of the TSX Venture Exchange.
Further to the Company’s news release dated April 7, 2025 which included an announcement of the Company’s engagement of VSA Capital Limited (“VSA Capital“), the Company advises that it engaged VSA Capital on April 4, 2025, and not on April 1, 2025, as previously disclosed. The Company also clarifies that it paid VSA Capital the £5,000 annual cash fee in full and in advance of VSA Capital providing services to the Company. All other terms relating to the engagement between the Company and VSA Capital remain unchanged and are as previously disclosed.
On behalf Pulsar Helium Inc. “Thomas Abraham-James” President, CEO and Director
*OAK Securities is the trading name of Merlin Partners LLP, a firm incorporated in the United Kingdom and regulated by the UK Financial Conduct Authority.
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the AIM market of the London Stock Exchange and the TSX Venture Exchange with the ticker PLSR, as well as on the OTCQB with the ticker PSRHF. Pulsar’s portfolio consists of its flagship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each.
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.
Qualified Person Signoff
In accordance with the AIM Note for Mining and Oil and Gas Companies, the Company discloses that Thomas Abraham-James, President, CEO and Director of the Company has reviewed the technical information contained herein. Mr. Abraham-James has approximately 20 years in the mineral exploration industry, is a Chartered Professional Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM CP (Geo)), a Fellow of the Society of Economic Geologists and a Fellow of the Geological Society of London.
Forward-Looking Statements
This news release and the interview contains forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, statements relating to the completion of the private placement, the independent resource estimate for helium and CO2 at Topaz; the potential of CO2 as a valuable by-product of the Company’s future helium production; the potential impact of deepening Jetstream #1 and the potential impact of such deepening on the next iteration of the resource estimate; the potential impact of the results of Jetstream #2; and the potential for future wells. Forward-looking statements may involve estimates and are based upon assumptions made by management of the Company, including, but not limited to, the Company’s capital cost estimates, management’s expectations regarding the availability of capital to fund the Company’s future capital and operating requirements and the ability to obtain all requisite regulatory approvals.
No reserves have been assigned in connection with the Company’s property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its activities, which are principally directed toward the future exploration, appraisal and development of its assets, and potential acquisition of property interests in the future. Un-risked Contingent and Prospective Helium Volumes have been defined at the Topaz Project. However, estimating helium volumes is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that estimated volume. Estimates may alter significantly or become more uncertain when new information becomes available due to for example, additional drilling or production tests over the life of field. As estimates change, development and production plans may also vary. Downward revision of helium volume estimates may adversely affect the Company’s operational or financial performance.
Helium volume estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates are imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new information or techniques become available. As further information becomes available through additional drilling and analysis the estimates are likely to change. Any adjustments to volume could affect the Company’s exploration and development plans which may, in turn, affect the Company’s performance. The process of estimating helium resources is complex and requires significant decisions and assumptions to be made in evaluating the reliability of available geological, geophysical, engineering, and economic date for each property. Different engineers may make different estimates of resources, cash flows, or other variables based on the same available data.
Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, that Pulsar may be unsuccessful in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that drill costs may be higher than estimates and the potential for delays in the commencement of drilling; commodity prices; health, safety and environmental factors; and other factors set forth above as well as under “Cautionary Note Regarding Forward Looking Statements and Market and Industry Data” and “Risk Factors” in the Final Prospectus dated July 31, 2023 filed on the Company’s profile on www.sedarplus.ca. Forward-looking statements contained in this news release are as of the date of this news release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release and interview are expressly qualified in their entirety by this cautionary statement.
TORONTO, ON / ACCESS Newswire / May 28, 2025 / SPETZ INC. (the “Company” or “Spetz“) (CSE:SPTZ)(OTC PINK:DBKSF) is pleased to announce that it has held the closing of the first tranche of its previously announced non-brokered private placement (the “Private Placement“) at which it issued 14,702,617 units (the “Units“) at a price of $0.50 per Unit, for gross proceeds of $7,351,308.50. Each of the Units is comprised of one common share and one-half of a common share purchase warrant (the “Warrants“) of Spetz. Each whole Warrant entitles its holder to acquire one additional common share of Spetz at a price of $0.75 for a period of 24 months from the closing date. The Private Placement was described in the press releases of the Company disseminated on March 24, 2025 and May 12, 2025. The net proceeds from the Private Placement will be used for general working capital purposes, validator expansion, and growth initiatives within the blockchain infrastructure sector.
“We’re excited to announce the closing of this first tranche and the strong support we’ve received from a high-caliber group of investors,” said Mitchell Demeter, CEO and Director of Spetz Inc and Sonic Strategy. “These funds will enable the Company to acquire Sonic tokens, launch validator infrastructure to help secure the Sonic network, and deploy capital into DeFi strategies within the Sonic ecosystem. We’re especially pleased to have participation from key backers including Canaccord Genuity Financial, Russell Star, previously of DeFi Technologies, Haywood Securities, and Sonic Labs.”
Additional closings of the Private Placement may be held until June 23, 2025, subject to the issuance of a maximum of an additional 5,297,383 Units at a price of $0.50 per Unit, for total maximum additional gross proceeds of $2,648,691.50.
In connection with the Private Placement, Spetz paid cash commissions to seven (7) securities dealers in an aggregate amount of $315,812. In addition, Spetz granted non-transferable finders’ warrants (the “Finder’s Warrants”) to seven (7) securities dealers entitling them to acquire up to an aggregate of 719,524 additional common shares of Spetz at a price of $0.75 per share for a period of 24 months form the closing date.
All of the foregoing securities are subject to a hold period of four months and day expiring on September 29, 2025.
Related Party Transaction
Michael Kron, a director of the Company, purchased 100,000 Units at a price of $0.50 per Unit for a consideration of $50,000 (representing approximately 0.22% of the issued and outstanding common shares of the Company following the closing of the Private Placement). Immediately after the closing of the Private Placement, Mr. Kron owned, directly, 115,704 common shares of the Company, 50,000 Warrants and 10,000 stock options of the Company.
Mr. Kron is considered a “related party” and an “insider” of the Company for the purposes of applicable securities laws and stock exchange rules. The subscription and issuance of Units to Mr. Kron constitute a related party transaction, but is exempt from the formal valuation and minority approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) as the Company’s securities are not listed on any stock exchange identified in Section 5.5(b) of MI 61-101 and that the fair market value of the Units issued to Mr. Kron under the Private Placement, does not exceeds 25% of the Company’s market capitalization. The Company did not file a material change report with respect to the participation of Mr. Kron at least 21 days prior to the closing of the Private Placement as Mr. Kron’s participation was not determined at that time.
Mr. Kron, a director of the Company, has disclosed his interest to the Board of the Directors of the Company pursuant to Section 132 of the Business Corporations Act (Ontario) to the effect that he may participate in the Private Placement and subscribe to Units. The terms of the Private Placement and the agreements relating thereto were submitted to and unanimously approved by way of a written resolution adopted by all the directors of the Company other than Mr. Kron. Mr. Kron did not vote on the resolution to approve the Private Placement and the agreements relating thereto. The remaining directors determined that the Private Placement was in the best interest of the Company.
About Spetz Inc. Spetz Inc. is a multinational technology company operating at the intersection of AI-driven marketplaces and blockchain infrastructure. The Company owns and operates the Spetz application, an AI-powered platform connecting consumers with service providers, as well as Sonic Strategy, a blockchain staking and infrastructure company supporting the Sonic ecosystem.
NEITHER THE CANADIAN SECURITIES EXCHANGE, NOR THEIR REGULATION SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Cautionary Note Regarding Forward-looking Statements Certain information herein constitutes “forward-looking information” under Canadian securities laws, reflecting management’s expectations regarding objectives, plans, strategies, future growth, results of operations, and business prospects of the Company. Words such as “may”, “plans,” “expects,” “intends,” “anticipates,” “believes,” and similar expressions identify forward-looking statements, which are qualified by the inherent risks and uncertainties surrounding future expectations.
Forward-looking statements are based on a number of estimates and assumptions that, while considered reasonable by management, are subject to business, economic, and competitive uncertainties and contingencies. The Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from projected outcomes. Factors influencing these outcomes include economic conditions, regulatory developments, competition, capital availability, and business execution risks. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including, the closing of additional tranches of the Private Placement, how the Company will use of the net proceeds of the Private Placement or if any Warrants or Finder’s Warrants will ever be exercised.
The forward-looking information contained in this press release represents Spetz’s expectations as of the date of this release and is subject to change. Spetz does not undertake any obligation to update forward-looking statements, except as required by law.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction. None of the securities issued in the Private Placement will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act.
Company has been notified that HHS will terminate Moderna’s award for late-stage development of pre-pandemic influenza vaccines
CAMBRIDGE, MA / ACCESS Newswire / May 28, 2025 / Moderna, Inc. (NASDAQ:MRNA) today announced positive interim data from a Phase 1/2 clinical study (NCT05972174) evaluating the safety and immunogenicity of its investigational pandemic influenza vaccine, mRNA-1018, in approximately 300 healthy adults aged 18 years and older. The interim results focus on a vaccine candidate targeting the H5 avian influenza virus subtype.
The Company had previously expected to advance the program to late-stage development with the U.S. Department of Health and Human Services (HHS); however, today Moderna received notice that HHS will terminate the award for the late-stage development and right to purchase pre-pandemic influenza vaccines.
“While the termination of funding from HHS adds uncertainty, we are pleased by the robust immune response and safety profile observed in this interim analysis of the Phase 1/2 study of our H5 avian flu vaccine and we will explore alternative paths forward for the program,” said Stéphane Bancel, Chief Executive Officer of Moderna. “These clinical data in pandemic influenza underscore the critical role mRNA technology has played as a countermeasure to emerging health threats.”
The Phase 1/2 study evaluated a two-dose regimen of Moderna’s investigational avian influenza vaccine. mRNA-1018 demonstrated a rapid, potent and durable immune response. At baseline, pre-existing immunity was minimal, with only 2.1% of participants showing hemagglutination inhibition (HAI) antibody titers ≥1:40, an HAI titer considered to correlate with protection. At Day 43, three weeks after the second vaccination, 97.8% of participants achieved titers ≥1:40 with a 44.5-fold increase of titers from baseline.
The investigational vaccine was generally well-tolerated, with no dose-limiting tolerability concerns observed. Most solicited adverse reactions were Grade 1 or 2 and did not increase significantly with number of doses or between first and second doses. Further data is expected to be submitted for presentation at an upcoming scientific meeting.
Moderna will explore alternatives for late-stage development and manufacturing of the H5 program consistent with the Company’s strategic commitment to pandemic preparedness.
About Moderna
Moderna is a leader in the creation of the field of mRNA medicine. Through the advancement of mRNA technology, Moderna is reimagining how medicines are made and transforming how we treat and prevent disease for everyone. By working at the intersection of science, technology and health for more than a decade, the company has developed medicines at unprecedented speed and efficiency, including one of the earliest and most effective COVID-19 vaccines.
Moderna’s mRNA platform has enabled the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases and autoimmune diseases. With a unique culture and a global team driven by the Moderna values and mindsets to responsibly change the future of human health, Moderna strives to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: the clinical development of mRNA-1018, the safety and immunogenicity data from the Phase 1/2 study; the cancellation of the development contract for Moderna’s pandemic flu program by the U.S. Department of Health and Human Services; and the exploration of alternative paths for development of the vaccine program. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading “Risk Factors” in Moderna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in subsequent filings made by Moderna with the U.S. Securities and Exchange Commission, which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date of this press release.
