Cypher Metaverse Inc. (CSE:CODE) ("CODE" or the "Company") announces today that it has entered into settlement agreements that will see $149,215 of debt settled by the issuance of 1,755,470 shares at a deemed price of $0.085, and the Company's balance sheet much improved
No finders fees will be paid. The securities issued will be subject to a four-month and one-day hold period from closing.
Certain insiders participated in respect to accrued and unpaid fees and expenses. The Company is relying on exemptions contained in NI 61-101 from minority approval and valuation requirements for related party transactions.
About Cypher Metaverse Inc.
Cypher Metaverse Inc. seeks early-stage investments in emerging technology sectors, including the blockchain ecosystem, fintech and the metaverse. The Company identifies such opportunities and applies its relationships and capital to advance its interests.
The Company's head office is located at 1780-355 Burrard Street, Vancouver, BC, V6C 2C8. The common shares of CODE ("CODE Common Shares") are currently listed on the CSE and CODE is a reporting issuer in the provinces of British Columbia, Alberta and Ontario.
Cautionary Statement Regarding Forward-Looking Information
Statements in this press release regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such forward-looking information can be generally identified by terms such as "may", "expect", "estimate", "anticipate", "intend", "believe", and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future, and readers are cautioned that such forward-looking statements may not be appropriate for other purposes. By its nature, this forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions may not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities may not be achieved. These risks and uncertainties include but are not limited to those identified and reported under the Company's disclosure documents available on its SEDAR+ profile at www.sedarplus.com.
Contact Information
For further information please contact:
Brian Keane, Director
Cypher Metaverse Inc.
Phone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
E-mail: info@cypher-meta.com
www.cypher-meta.com
Neither the CSE nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: Cypher Metaverse Inc.
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Cypher Metaverse Inc. (CSE:CODE) ("CODE" or the "Company") is pleased to announce that it is continuing in assisting the financing for the acquisition of Agapi Luxury Brands Inc. ("Agapi"). The secured bridge loan entered between CODE and Agapi on May 10, 2023, has been increased from $600,000 to $950,000 of which $886,692 has been advanced to date to advance Agapi's business plan and growth initiatives
Agapi continues to expand its sales of its luxury cigars. After receiving Cypher shareholder approval for the acquisition of Agapi, Cypher and Agapi are completing their current financials statements and listing statement, after which it is anticipated that the exchange will provide their final consent to closing.
About Cypher Metaverse Inc.
CODE seeks early-stage investments in emerging technology sectors, including the blockchain ecosystem, fintech and the metaverse. The Company identifies such opportunities and applies its relationships and capital to advance its interests.
The Company's head office is located at 1780-355 Burrard Street, Vancouver, BC, V6C 2C8, and its Common Shares are currently listed on the CSE. CODE is a reporting issuer in the Provinces of British Columbia, Alberta, and Ontario.
Contact Information
For further information, please contact:
Cypher Metaverse Inc.
Brian Keane - Director
Phone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the exploration and development of Agapi's products, the proposal to complete the Transaction and associated transactions, including statements regarding the terms and conditions of the Transaction the Exchange Ratio, the name change of the Company, the Private Placement, the use of proceeds of the Private Placement, the Bridge Loan and the proposed directors and officers of the Resulting Issuer. The information about Agapi contained in the press release has not been independently verified by CODE. Although CODE believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because CODE can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with the Transaction, the name change of the Company, the Private Placement, the appointment of the proposed directors and officers of the Resulting Issuer and associated transactions, that the ultimate terms of the Transaction, the Private Placement, the appointment of the proposed directors and officers of the Resulting Issuer and associated transactions will differ from those that currently are contemplated, and that the Transaction, the name change of the Company, the Private Placement, the appointment of the proposed directors and officers of the Resulting Issuer and associated transactions will not be successfully completed for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities). The terms and conditions of the Transaction may change based on CODE's due diligence and the receipt of tax, corporate and securities law advice for both CODE and Agapi. The statements in this press release are made as of the date of this press release. CODE undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of CODE, Agapi, their securities, or their respective financial or operating results (as applicable) except as required by securities laws.
SOURCE:Cypher Metaverse Inc.
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Cypher Metaverse Inc. (CSE:CODE) ("CODE" or the "Company") is please to announce that it has closed its previously announced non-brokered private placement of 2,325,000 units ("Units") at a price of $0.12 per Unit for aggregate gross proceeds of $279,000 (the "Financing
Under the Financing, each Unit consists of one common share in the capital of the Company ("Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant entitles the holder thereof to subscribe for one additional Common Share at a price of $0.15 for a period of two years from the date of closing, subject to the Company's option to accelerate the expiry date if the stock trades at $0.20 for ten trading days.
In connection with the Financing, the Company paid finder's fees to qualified finders in the amount of $18,755 and issued 156,300 broker warrants (the "Broker Warrants"). The Broker Warrants are subject to the same terms as the Warrants.
In accordance with the policies of the Canadian Securities Exchange (the "CSE") and applicable securities legislation, the Common Shares and Warrants comprising the Units will be subject to a four-month and one-day hold period.
The Company intends to use the net proceeds of the Financing for the acquisition of Agapi Luxury Brands Inc. ("Agapi"). Pursuant to the Company's agreement to loan Agapi funds as it works through the CSE's RTO process, the Company has now loaned Agapi a total of $886,692 to advance its business plan.
About Cypher Metaverse Inc.
CODE seeks early-stage investments in emerging technology sectors, including the blockchain ecosystem, fintech and the metaverse. The Company identifies such opportunities and applies its relationships and capital to advance its interests.
The Company's head office is located at 1780-355 Burrard Street, Vancouver, BC, V6C 2C8, and its Common Shares are currently listed on the CSE. CODE is a reporting issuer in the Provinces of British Columbia, Alberta, and Ontario.
Contact Information
For further information, please contact:
Cypher Metaverse Inc.
Brian Keane - Director
Phone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: Cypher Metaverse Inc.
News Provided by ACCESSWIRE via QuoteMedia
Cypher Metaverse Inc. (CSE:CODE) ("CODE" or the "Company") is pleased to announce that it is undertaking a non-brokered private placement of up to $400,000. The Company will issue up to 3,333,333 units at a price of $0.12 per unit. Each unit consists of one common share and one half of a common share warrant. Each whole warrant entitles the holder to subscribe for one additional common share for $0.15 for a period of 2 years from the date of closing, subject to the Corporation's option to accelerate the expiry date if the stock trades at $0.20 for 10 trading days
The Company intends to use the net proceeds of the Offering for general working capital and acquisition of Agapi Luxury Brands Inc.
The Company may pay qualified finders fees of up to 8% in cash and 8% in brokers warrants.
About Cypher Metaverse Inc.
Cypher Metaverse Inc. seeks early-stage investments in emerging technology sectors, including the blockchain ecosystem, fintech and the metaverse. The Company identifies such opportunities and applies its relationships and capital to advance its interests.
The Company's head office is located at 1780-355 Burrard Street, Vancouver, BC, V6C 2C8. The common shares of CODE ("CODE Common Shares") are currently listed on the CSE and CODE is a reporting issuer in the provinces of British Columbia, Alberta and Ontario.
For further information please contact:
Cypher Metaverse Inc.
Brian Keane - Director
Phone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
Neither the CSE nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: Cypher Metaverse Inc.
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Not for distribution to U.S. Newswire Services or for dissemination in the United States of America. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.
Cypher Metaverse Inc. (CSE: CODE) ("CODE" or the "Company") is pleased to announce that it has entered into a binding definitive agreement ("Definitive Agreement") dated August 29, 2023, in respect to a business combination (the "Transaction") with Agapi Luxury Brands Inc. ("Agapi"). It is expected that upon completion of the Transaction, the combined entity (the "Resulting Issuer") will meet the listing requirements for an industrial issuer under the policies of the CSE Venture Exchange (the "CSE"). The CSE has conditionally accepted the Transaction, and the Company will hold a shareholder meeting on December 1, 2023 to give its shareholders the opportunity to consider the Transaction and approve the same
Terms of the Transaction
The Transaction is expected to be completed by way of a share exchange, which will result in Agapi becoming a wholly-owned subsidiary of CODE.
Upon the satisfaction or waiver of the conditions set out in the Definitive Agreement, the following, among other things, will be completed in connection with the Transaction:
The Transaction is a non-arm's length transaction or a related party transaction pursuant to the policies of the CSE and NI 61-103 as the CEO of CODE is a significant shareholder of Agapi. As a result, CODE is being represented in these negotiations by a special committee made of up of independent directors. In addition the Company has commissioned an independent valuation of Agapi and will seek the approval of disinterested shareholders.
Private Placement Financing
In connection with and as a condition to the Transaction, Agapi intends to complete an equity financing of Agapi Common Shares for minimum gross proceeds of $750,000 (the "Private Placement"). It is expected that the issue price per Agapi Common Share will be $0.12. The Agapi Common Shares are expected to be sold to "accredited investors" and other parties pursuant to exemptions from prospectus requirements under Canadian securities laws.
The Private Placement is intended to be completed prior to or concurrently with closing of the Transaction. The net proceeds of the Private Placement will be used for working capital and general corporate purposes.
Conditions of the Transaction
Completion of the Transaction is subject to the satisfaction of customary closing conditions, including: (i) receipt of all required approvals and consents relating to the Transaction, including without limitation any approvals of the shareholders of CODE and Agapi as required by the CSE and under applicable corporate or securities laws; (ii) completion of the Private Placement; and (iii) the CSE's final approval for listing the shares of the Resulting Issuer.
Trading Halt
Trading in CODE Common Shares on the CSE will remain halted in compliance with the policies of the CSE. It is not expected that trading in the CODE Common Shares will resume prior to the Closing.
Filing Statement
In connection with the Transaction and in compliance with the policies of the CSE, CODE will file on SEDAR by September 29, 2023 the information circular which will contain details regarding the Transaction, CODE, Agapi and the Resulting Issuer, including proposed management of the Resulting Issuer. .
About Cypher Metaverse Inc.
Cypher Metaverse Inc. seeks early-stage investments in emerging technology sectors, including the blockchain ecosystem, fintech and the metaverse. The Company identifies such opportunities and applies its relationships and capital to advance its interests.
The Company's head office is located at 1780-355 Burrard Street, Vancouver, BC, V6C 2C8. The common shares of CODE ("CODE Common Shares") are currently listed on the CSE and CODE is a reporting issuer in the provinces of British Columbia, Alberta and Ontario.
CODE currently has 15,571,906 CODE Common Shares issued and outstanding and securities exercisable or exchangeable into 3,288,070 CODE Common Shares.
About Agapi Luxury Brands Inc.
Agapi's premium luxury branded cigars sold under the brand "Freud Cigar Co.", are exclusively handcrafted using the finest tobacco leaves that are carefully selected and aged to perfection, and artistically blended to produce an unforgettable smoking experience for the luxury consumer. The company has partnered with renowned industry veterans Eladio Diaz and Wiber Ventura with the aim to disrupt the luxury cigar segment. The company has successfully commercialized products in the US and international markets selling over 40,000 and 10,000 cigars in each respective market.
Agapi is a private company and was incorporated under the Business Corporations Act (British Columbia) on June 11, 2021. Agapi's head office is located at 1780-355 Burrard Street, Vancouver, BC, V6C 2C8.
Agapi currently has approximately 65,571,906 common shares ("Agapi Common Shares") issued and outstanding and securities exercisable or exchangeable into approximately 84,542,058 Agapi Common Shares .
For further information please contact:
Cypher Metaverse Inc. Corporate Communications
Brian Keane - Director
Phone: Toll-Free (877) 806-CODE (2633) or 1 (778) 806-5150
Agapi Luxury Brands Inc.
David Stadnyk, CEO
All information in this press release relating to Agapi has been provided by Agapi and is the sole responsibility of Agapi.
Cautionary Note
Completion of the Transaction is subject to a number of conditions, including but not limited to, CSE acceptance and if applicable pursuant to CSE requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.
The CSE has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release.
Neither the CSE nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the exploration and development of Agapi's products, the proposal to complete the Transaction and associated transactions, including statements regarding the terms and conditions of the Transaction the Exchange Ratio, the name change of the Company, the Private Placement, the use of proceeds of the Private Placement and the proposed directors and officers of the Resulting Issuer. The information about Agapi contained in the press release has not been independently verified by CODE. Although CODE believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because CODE can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that the parties will not proceed with the Transaction, the name change of the Company, the Private Placement, the appointment of the proposed directors and officers of the Resulting Issuer and associated transactions, that the ultimate terms of the Transaction, the Private Placement, the appointment of the proposed directors and officers of the Resulting Issuer and associated transactions will differ from those that currently are contemplated, and that the Transaction, the name change of the Company, the Private Placement, the appointment of the proposed directors and officers of the Resulting Issuer and associated transactions will not be successfully completed for any reason (including the failure to obtain the required approvals or clearances from regulatory authorities). The terms and conditions of the Transaction may change based on receipt of tax, corporate and securities law advice for both CODE and Agapi. The statements in this press release are made as of the date of this press release. CODE undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of CODE, Agapi, their securities, or their respective financial or operating results (as applicable) except as required by securities laws.
SOURCE: Cypher Metaverse Inc.
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Bitcoin Well Inc. (" Bitcoin Well " or the " Company ") ( TSXV: BTCW; OTCQB: BCNWF ), the non-custodial bitcoin business on a mission to enable independence, is pleased to announce that it has entered into an agreement with Haywood Securities Inc. (" Haywood ") to act as lead agent and sole bookrunner, together with a syndicate of agents (the " Agents "), in connection with a best-efforts private placement of up to approximately $2,000,000 convertible debenture units (the " Debenture Units ") at a price of $1,000 per Debenture Unit (the " Offering "). Each Debenture Unit shall consist of: (i) one 8% $1,000 principal amount unsecured convertible debenture (each, a " Debenture "); and (ii) 4,347 common share purchase warrants of the Company (each, a " Warrant ").
Further, the Company announces the purchase of approximately 7.53088112 BTC for $1,035,882.82 CAD at an average price of $137,551.34 CAD per bitcoin.
The Company intends to use the net proceeds from the Offering for working capital, general corporate purposes and for further additions to the strategic bitcoin reserve. The Offering is expected to close on or about December 17 , 2024, or such other date as the Company and Haywood may agree, each acting reasonably (the " Closing Date ").
"Adding bitcoin to the balance sheet feels great!" said Adam O'Brien, founder and CEO of the Company. "We look forward to closing a successful Offering which will afford us access to additional capital to add more bitcoin to our treasury. I am excited to offer our shareholders exposure to bitcoin alongside our growing bitcoin business. We have seen good growth so far this quarter and we expect that adding bitcoin to the balance sheet will continue to give the Company opportunities in the future."
The Debentures will bear interest of 8% per annum, payable semi-annually in arrears, on the first business day in July and January of each year, with the first interest payment to be made on July 2, 2025 (the " Interest Payment Date ") and maturing on the date that is 60 months following the Closing Date (the " Maturity Date "). The Company shall pay, on each Interest Payment Date, all interest in the form of common shares of the Company (the " PIK Interest Payment ") or in cash, at the sole discretion of the Company. In the event the Company elects to make a PIK Interest Payment, it shall deliver such number of Common Shares, within 10 business days of the Interest Payment Date, as is determined by dividing the accrued and unpaid interest due and payable on the Interest Payment Date by the 10 day volume weighted average trading price (" VWAP ") of the Common Shares on the TSX Venture Exchange (the " TSXV "), immediately preceding the Interest Payment Date.
The Debentures will be unsecured obligations of the Company and subordinated in right of payment to the prior payment in full of all secured indebtedness of the Company. The Debentures will rank pari passu with all existing subordinated debentures and all additional subordinated debentures issued by the Company from time to time. The Debentures will also be effectively subordinated to claims of creditors of the Company's subsidiaries except to the extent the Company is a creditor of such subsidiaries ranking at least pari passu with such other creditors.
Each $1,000 principal amount of Debentures will be convertible into 4,347 common shares of the Company (the " Common Shares ") at the option of the holder thereof, at a conversion price of $0.23 per Common Share (the " Conversion Price "), at any time prior to the close of business on the earlier of: (i) the Maturity Date; (ii) the business day immediately preceding the date fixed by the Company pursuant to the Debenture Conversion Notice (as hereinafter defined), and (iii) the business day immediately preceding the payment date if subject to repurchase pursuant to a change of control, subject to adjustment in certain circumstances pursuant to a trust indenture to be entered into between the Company and trust company. Beginning on the date that is four months and one day following the Closing Date, if the VWAP of the Common Shares on the TSXV is greater than $0.32 for a period of 10 consecutive trading days, the Company may, within 10 business days of the occurrence of such event, force the conversion of the Debentures by giving notice (the " Debenture Conversion Notice ") to the holders of the Debentures, and issuing a concurrent press release, and, in such case, the conversion date of the Debentures shall be the date specified by the Company in the Debenture Conversion Notice, provided such date shall not be less than 30 trading days following delivery of the Debenture Conversion Notice.
Each Warrant will be exercisable to acquire one Common Share for an exercise price of $0.30 for a period of 60 months following the Closing Date. If, at any time following the Closing Date and prior to the expiry date of the Warrants, the VWAP of the Common Shares on the TSXV is greater than $0.42 for a period of 10 consecutive trading days, the Company may, within 10 business days of the occurrence of such event, accelerate the expiry date of the Warrants by giving notice (the " Warrant Acceleration Notice "), and issuing a concurrent press release, and, in such case, the expiry date of the Warrants shall be the date specified by the Company in the Warrant Acceleration Notice, provided such date shall not be less than 30 trading days following delivery of the Warrant Acceleration Notice.
The Agents will have an option (the " Agent's Option ") to offer for sale up to an additional $300,000 of Debenture Units, by Haywood, on behalf of the Agents providing notice to the Company at any time up to 48 hours prior to the Closing Date.
The Company has agreed to (a) pay to the Agents a commission of 7% cash (3.5% in respect of presidents list orders); (b) issue to the Agents compensation options entitling the Agents to acquire that number of Debenture Units equal to 7% (3.5% in respect of presidents list orders) of the aggregate number of Debenture Units sold pursuant to the Offering at an exercise price of each such Debenture Unit of $1,000; and (c) issue to Haywood such number of Debenture Units as is equal to the greater of $100,000 and 7% of the gross proceeds of the Offering (3.5% in respect of presidents list orders) at a deemed price per such Debenture Unit of $1,000.
All securities issued pursuant to the Offering will be subject to a statutory hold period of four months and one day following the Closing Date. The Offering remains subject to certain conditions including, but not limited to, receipt of all necessary regulatory approvals, including the approval of the TSXV.
It is anticipated that certain directors of the Company will participate in the Offering for minimum gross proceeds of $500,000. Such participation will be considered to be a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The Company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the related party participation in the Offering as neither the fair market value (as determined under MI 61- 101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it will involve interested parties, is expected to exceed 25% of the Company's market capitalization (as determined under MI 61-101).
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities offered hereby have not been and will not be registered under the United States Securities Act of 1933, as amended (the " 1933 Act ") or any state securities laws and may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S under the 1933 Act) unless the securities have been registered under the 1933 Act and all applicable state securities laws, or are otherwise exempt from such registration.
About Bitcoin Well
Bitcoin Well is on a mission to enable independence. We do this by making bitcoin useful to everyday people to give them the convenience of modern banking and the benefits of bitcoin. We like to think of it as future-proofing money. Our existing Bitcoin ATM and Online Bitcoin Portal business units drive cash flow to help fund this mission.
Join our investor community and follow us on Nostr , LinkedIn , Twitter and YouTube to keep up to date with our business.
Bitcoin Well contact information
To book a virtual meeting with our Founder & CEO Adam O'Brien please use the following link: https://bitcoinwell.com/meet-adam
For additional investor & media information, please contact:
Tel: 1 888 711 3866
ir@bitcoinwell.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  .
Forward-looking information
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", or the negative thereof and similar expressions. Â All statements herein other than statements of historical fact constitute forward-looking information, including but not limited to statements in respect of: closing of the Offering; TSXV approval of the Offering; exercise of the Agent's Option; use of proceeds from the Offering; and Bitcoin Well's business plans, strategy and outlook. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Â Bitcoin Well actual results could differ materially from those anticipated in this forward-looking information as a result of inability to obtain TSXV approval, regulatory decisions, competitive factors in the industries in which Bitcoin Well operates, prevailing economic conditions, and other factors, many of which are beyond the control of Bitcoin Well.
Bitcoin Well believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be  correct  and such forward-looking information should not be unduly relied upon.  Any forward-looking information contained in this news release represents Bitcoin Well's expectations as of the date hereof, and is subject to change after such date. Bitcoin Well disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation. For more information, see the Cautionary Note Regarding Forward Looking Information found in the Bitcoin Well's quarterly Management Discussion and Analysis.
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(TheNewswire)
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Brossard, Quebec, November 29, 2024 TheNewswire - Charbone Hydrogen Corporation (TSXV: CH; OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE"), North America's only publicly traded pure-play green hydrogen company, today announced its financial and operating results for the third quarter of 2024, highlighted by a 23% year-over-year revenue increase and critical progress toward commencing green hydrogen production at its Sorel-Tracy facility in early 2025.
All necessary permits for the Sorel-Tracy facility have been obtained, and performance testing of electrolyzer components has been successfully completed, keeping the project on track for early 2025 production.
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Dave Gagnon, CEO of CHARBONE, touching the 1.75MW electrolyzer
Q3 2024 HIGHLIGHTS:
Spending decreased 11% to $1,741,149 in the nine-month period ending September 30, 2024 compared to $1,948,336 in the nine-month period ending September 30, 2023 (activities refocus and tightening of general and administrative expenses).
Revenue increased 23% to $261,228 in the nine-month period ending September 30, 2024 compared to $212,680 in the nine-month period ending September 30, 2023 (generated from the Wolf River acquisition on December 1, 2022).
The Company has closed a private financing for gross proceeds amounting to $1,504,627 ($849,622 in February 2024 and $655,005 in November 2024), Units for debt settlement of $352,214 and exercises of warrants/options of $452,345;
The Company also received an additional $100,000 in 2024 from Finexcorp secured convertible debentures at a deemed price of $0.10 and agreed on an extension of the $1.2 million CAD 14% (now 12%) secured convertible debentures maturity date that were issued by the Company in reducing significantly the current liabilities and with better terms; and
The Company made acquisitions of storage hydrogen equipment and upgraded its Sorel-Tracy electrolyzer capacity to 1.75MW.
Charbone's disciplined financial management, and strategic partnerships position the Company to deliver on its vision of creating a North American green hydrogen network. These advancements underscore its commitment to becoming a leader in the energy transition.
Located near Montreal, Quebec, CHARBONE's Sorel-Tracy Green Hydrogen Project will serve as the Company's flagship facility, giving CHARBONE a first-mover advantage with plans to commence production beginning of 2025.
"Management's efforts to shore up and strengthen our balance sheet have been focused and deliberate," said Benoit Veilleux, Chief Financial Officer and Corporate Secretary of CHARBONE . "Ongoing talks with strategic partners are advancing well to support and execute CHARBONE's growth potential with our financial partners and investors."
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Click Image To View Full Size
About Charbone Hydrogen Corporation
CHARBONE is an integrated green hydrogen company focused on creating a network of modular green hydrogen production facilities across North America. Using renewable energy, CHARBONE produces eco-friendly dihydrogen (H2) for industrial, institutional, commercial, and future mobility users. CHARBONE is currently the only publicly traded pure-play green hydrogen company, with shares listed on the TSX Venture Exchange (TSXV: CH); the OTC Markets (OTCQB: CHHYF); and the Frankfurt Stock Exchange (FSE: K47). For more information on Charbone Hydrogen and its projects, please visit www.charbone.com
Forward-Looking Statements
This news release contains statements that are "forward-looking information" as defined under Canadian securities laws ("forward-looking statements"). These forward-looking statements are often identified by words such as "intends", "anticipates", "expects", "believes", "plans", "likely", or similar words. The forward-looking statements reflect management's expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Corporation's Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
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 .
Contacts Charbone Hydrogen Corporation | ||||
Dave B. Gagnon | ||||
Chief Executive Officer and Chairperson of the Board | ||||
Telephone: | +1Â 438Â 844-7170 | |||
Email: | ||||
Daniel Charette | ||||
Chief Operating Officer | ||||
Telephone: | +1Â 438 800-4946 | |||
Email: | ||||
Benoit Veilleux | ||||
Chief Financial Officer and Corporate Secretary | ||||
Telephone: | +1Â 438 800-4991 | |||
Email: | ||||
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Brossard (Québec), le 29 novembre 2024 TheNewswire - CORPORATION CHARBONE HYDROGÈNE (TSXV: CH OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), la seule société d'Amérique du Nord cotée en bourse spécialisée dans l'hydrogène vert, a annoncé aujourd'hui ses résultats financiers et opérationnels pour le troisième trimestre de 2024, marqués par une augmentation de 23 % des revenus sur l'année précédente ainsi que des progrès essentiels vers le démarrage de la production d'hydrogène vert à son usine de Sorel-Tracy au début de 2025.
Tous les permis nécessaires pour l'usine de Sorel-Tracy ont été obtenus et les tests de performance des composantes de l'électrolyseur ont été complétés avec succès, ce qui permet de garder le cap pour une production au début de 2025.
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Dave Gagnon, PDG de CHARBONE, touche l'électrolyseur de 1,75MW
FAITS SAILLANTS T3 2024Â :
Les dépenses ont diminué de 11% à 1 741 149 $ dans la période de neuf mois se terminant le 30 septembre 2024 comparativement à 1 948 336 $ dans la période de neuf mois se terminant le 30 septembre 2023 (recentrage des activités et resserrement des frais généraux et administratifs).
Les revenus ont augmenté de 23% pour atteindre 261 228 $ dans la période de neuf mois se terminant le 30 septembre 2024, contre 212 680 $ dans la période de neuf mois se terminant le 30 septembre 2023 (générés par l'acquisition de Wolf River le 1 er décembre 2022).
La Société a clôturé des financements privés pour des produits bruts s'élevant à 1 504 627 $ (849 622$ en février 2024 et 655 005 $ en novembre 2024), des unités pour le règlement de dettes de 352 214 $ et l'exercice de bons de souscription/options pour 452 345 $ ;
La Société a également reçu un montant supplémentaire de 100 000 $ en 2024 de Finexcorp en débentures convertibles garanties à un prix réputé de 0,10 $ et convenu d'une prolongation de la date d'échéance des débentures convertibles garanties à 14 % (maintenant à 12 %) de 1,2 million de dollars canadiens qui ont été émises par la Société, réduisant considérablement les passifs à court terme et avec de meilleures conditions ; et
La Société a fait l'acquisitions d'équipement de stockage d'hydrogène et a augmenté la capacité de son électrolyseur de Sorel-Tracy à 1,75 MW.
La gestion financière rigoureuse de Charbone et ses partenariats stratégiques permettent à l'entreprise de concrétiser sa vision de créer un réseau nord-américain d'hydrogène vert. Ces avancées soulignent son engagement à devenir un leader de la transition énergétique.
Situé près de Montréal, au Québec, le projet d'hydrogène vert de Charbone à Sorel-Tracy servira d'installation phare de la société, donnant à Charbone un avantage de précurseur avec des plans pour commencer la production début 2025.
" Les efforts de la direction pour consolider et renforcer notre bilan ont été bien ciblés et délibérés , a déclaré Benoit Veilleux, Chef de la direction financière et secrétaire corporatif de Charbone. " Les discussions en cours avec des partenaires stratégiques progressent positivement pour supporter et concrétiser le potentiel de croissance de Charbone avec nos partenaires financiers et investisseurs. "
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À propos de Charbone Hydrogène Corporation
Charbone est une compagnie intégrée de production d'hydrogène vert axé sur la création d'un réseau nord-américain d'usines de production. En utilisant des énergies renouvelables, Charbone produit du dihydrogène (H2) respectueux de l'environnement pour les utilisateurs industriels, institutionnels, commerciaux et de la mobilité future. Charbone est présentement la seule société d'Amérique du Nord cotée en bourse spécialisée dans l'hydrogène vert avec ses actions listées sur la Bourse de croissance TSX (TSXV: CH); les marchés OTC (OTCQB: CHHYF); et la Bourse de Francfort (FSE: K47). Pour plus d'informations sur CHARBONE Hydrogen et ses projets, veuillez visiter www.charbone.com .
Énoncés prospectifs
Le présent communiqué de presse contient des énoncés qui constituent de « l'information prospective » au sens des lois canadiennes sur les valeurs mobilières (« déclarations prospectives »). Ces déclarations prospectives sont souvent identifiées par des mots tels que « a l'intention », « anticipe », « s'attend à », « croit », « planifie », « probable », ou des mots similaires. Les déclarations prospectives reflètent les attentes, estimations ou projections respectives de la direction de Charbone concernant les résultats ou événements futurs, sur la base des opinions, hypothèses et estimations considérées comme raisonnables par la direction à la date à laquelle les déclarations sont faites. Bien que Charbone estime que les attentes exprimées dans les déclarations prospectives sont raisonnables, les déclarations prospectives comportent des risques et des incertitudes, et il ne faut pas se fier indûment aux déclarations prospectives, car des facteurs inconnus ou imprévisibles pourraient faire en sorte que les résultats réels soient sensiblement différents de ceux exprimés dans les déclarations prospectives. Des risques et des incertitudes liés aux activités de Charbone peuvent avoir une incidence sur les déclarations prospectives. Ces risques, incertitudes et hypothèses comprennent, sans s'y limiter, ceux décrits à la rubrique « Facteurs de risque » dans la déclaration de changement à l'inscription de la Société datée du 31 mars 2022, qui peut être consultée sur SEDAR à l'adresse www.sedar.com; ils pourraient faire en sorte que les événements ou les résultats réels diffèrent sensiblement de ceux prévus dans les déclarations prospectives.
Sauf si les lois sur les valeurs mobilières applicables l'exigent, Charbone ne s'engage pas à mettre à jour ni à réviser les déclarations prospectives.
Ni la Bourse de croissance TSX ni son fournisseur de services de réglementation (tel que ce terme est défini dans les politiques de la Bourse de croissance TSX) n'acceptent de responsabilité quant à la pertinence ou à l'exactitude du présent communiqué.
Contacts
Pour de plus amples informations, veuillez contacter :
Dave B. G agnon | ||
Chef de la direction et président du conseil d'administration | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 438 844-7170 | ||
Courriel: dg@charbone.com | ||
Daniel Charette | ||
Chef de l'exploitation | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau : +1 438 800-4946 | ||
Courriel: dc@charbone.com | ||
Benoit Veilleux | ||
Chef de la direction financière et secrétaire corporatif | ||
Corporation Charbone Hydrogène | ||
Téléphone bureau: +1 438 800-4991 | ||
Courriel: bv@charbone.com |
Copyright (c) 2024 TheNewswire - All rights reserved.
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Forward Water Technologies Corp. (TSXV:FWTC) (the "Company" or "FWTC")) is pleased to announce that it has filed its condensed consolidated interim financial statements and related management's discussion and analysis for the nine months ended September 30, 2024. Copies of these financial statements and related management's discussion and analysis can be found on the Company's issuer profile at www.sedarplus.ca. All financial information in this news release is reported in Canadian dollars, unless otherwise indicated
Nine Months Ended September 30, 2024 Financial Highlights
On September 30, 2024, FWTC announced the successful closing of the business combination with Fraser Mackenzie Accelerator Corp. ("FMAC") and that the combined company will continue to conduct the business operated by FWTC. Pursuant to the transaction a wholly-owned subsidiary of FWTC amalgamated with FMAC and all of the issued and outstanding common shares of FMAC ("FMAC Shares") were exchanged for common shares of FWTC (post its 10 for 1 consolidation) at an exchange ratio of 0.95 FWTC shares for each FMAC Share (the "Exchange Ratio"). In addition, each outstanding option and warrant to purchase a FMAC Share was adjusted to entitle the holders thereof to purchase FWTC shares based on the Exchange Ratio. Upon completion of the transaction, the amalgamated corporation became a wholly owned subsidiary of FWTC.
As the former shareholders of FMAC control FWTC following the transaction, the transaction was accounted for as a reverse acquisition where FMAC is deemed to be the acquirer for accounting purposes. As a result, the condensed consolidated interim financial statements for the nine months ended September 30, 2024 represent the continuance of FMAC and reflect the identifiable assets acquired and liabilities assumed of FWTC at fair value. The results of operations of FWTC have not been included in the consolidated statements of loss as the transaction occurred on September 30, 2024. If the Transaction had occurred on January 1, 2024, management estimates that the consolidated revenue and net loss would have been $157,119 and $1,839,835 respectively for the nine months ended September 30, 2024.
Management Commentary
C. Howie Honeyman, Forward Water's CEO and President said, "The completion of the transaction with FMAC enables FWTC to accelerate its commercial efforts and lean into the developing sectors, especially as related to lithium brine processing. Further, the incoming board members provides FWTC with additional capital market expertise and strong financial leadership for the future."
Statement of Comprehensive Loss
Statement of Financial Position
Statement of Cash Flows
About Forward Water Technologies Corp.
Forward Water Technologies Corp. is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Forward Osmosis technology. The Company was founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors. In addition, the Company has initiated early stage R&D for the treatment of food and beverage process streams.
For more information, please visit www.forwardwater.com.
For more information or interview requests, please contact:
C. Howie Honeyman - Chief Executive Officer
howie.honeyman@forwardwater.com
416-451-8155
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 news release.
Forward-Looking Statements
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws including statements regarding expansion and uptake of the Company's technology and the ability for the Company to achieve its growth strategy and business plan. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, the ability to scale the technology and the adoption of the technology by potential customers.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information.
SOURCE:Forward Water Technologies Inc.
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Significant growth in wagers, revenue and gross margin
NorthStar Gaming Holdings Inc. (TSXV: BET) (OTCQB: NSBBF) ("NorthStar" or the "Company") today announced its financial results for the three- and nine-month periods ended September 30, 2024. All dollar figures are quoted in Canadian dollars.
"We delivered exceptional year-over-year growth across all key metrics in the third quarter, including a 69% increase in total wagers and a 63% boost in gross margin," said Michael Moskowitz, Chair and CEO of NorthStar. "Our consistent revenue growth and improved economies of scale have enabled gross margin to fully cover overhead costs–a significant milestone in our journey toward profitability. Additionally, marketing expenditures as a percentage of revenue have declined substantially, dropping from two-thirds last year to roughly half year-to-date, further demonstrating our continually improving operational efficiency and strategic focus."
Financial Highlights for the Third Quarter Ended September 30, 2024 ("Q3 2024"):
Financial Highlights for the Nine-Month Period Ended September 30, 2024 ("YTD 2024"):
Recent Operating Highlights:
Outlook
"The marketing investments and product launches we executed in Q3 have set us up for a strong finish to the year, as the fourth quarter is typically a seasonally robust period," said Mr. Moskowitz. "With the continued momentum in our business and operating leverage driving improved financial results, we are highly optimistic about our ability to deliver significant shareholder value in 2025."
Management is working diligently to secure additional funding and remains confident that the Company will be able to access the capital necessary to continue to support its growth strategy. The Company expects to provide an update in the coming weeks.
Q3 Corporate Update Webinar
On December 3, 2024, Michael Moskowitz will present an in-depth Corporate Update, including a discussion of the Company's Q3 Earnings, current operations and upcoming milestones. All investors and other interested parties are invited to register for the webinar at the link below.
Date: Tuesday, December 3rd, 2024
Time: 11am ET
Register: Webinar Registration
Management will be available to answer your questions following the presentation on the webinar platform. You may also submit your question(s) beforehand in the registration form linked above.
Extension of Strategic Marketing Agreement
The Company also announced that its wholly owned subsidiary, NorthStar Gaming (Ontario) Inc. ("NorthStar Ontario"), has agreed to extend its partnership with Playtech Software Limited ("Playtech Software") through the renewal of their previously announced strategic marketing agreement. Under the agreement, Playtech Software contributes services designed to accelerate NorthStar Ontario's player acquisition strategy in the province. The agreement was first implemented in June 2023 and renewed earlier this year, with Playtech Software contributing services valued at a total of $8 million through to October 31, 2024, representing a significant driver of NorthStar Ontario's growth over that period. The latest renewal, valued at up to $1 million, extends the agreement for two months through to December 31, 2024. Playtech Software will be reimbursed and compensated through a share of revenue from the income generated in connection with the marketing initiatives to which it contributes.
Additional Information
For additional information, please refer to Company's condensed consolidated interim financial statements for the three- and nine-month periods ended September 30, 2024, and the corresponding management's discussion and analysis ("MD&A"). These documents are available on SEDAR+ at www.sedarplus.ca, and on the Company's corporate website at www.northstargaming.ca.
About NorthStar
NorthStar proudly owns and operates NorthStar Bets, a Canadian-born casino and sportsbook platform that delivers a premium, distinctly local gaming experience. Designed with high-stakes players in mind, NorthStar Bets Casino offers a curated selection of the most popular games, ensuring an elevated user experience. Our sportsbook stands out with its exclusive Sports Insights feature, seamlessly integrating betting guidance, stats, and scores, all tailored to meet the expectations of a premium audience.
As a Canadian company, NorthStar is uniquely positioned to cater to customers who seek a high-quality product and an exceptional level of personalized service, setting a new standard in the industry. NorthStar is committed to operating at the highest level of responsible gaming standards.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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 press release.
Non-IFRS Financial Measures
Throughout this document, management uses certain non-IFRS financial measures and supplementary financial measures to evaluate the performance of the Company. The terms "Gross Gaming Revenue" "Total Wagers" and "Profit/(Loss) before marketing and other expenses" are non-IFRS financial measures. These measures are not recognized measures under International Financial Reporting Standards ("IFRS") and do not have a standardized meaning prescribed by IFRS and are, therefore, not necessarily comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management's perspective and to discuss NorthStar's financial outlook. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company's financial information reported under IFRS. We believe that securities analysts, investors and other interested parties frequently use non-IFRS measures, including industry metrics, in the evaluation of companies in our industry. Management also uses non-IFRS measures and industry metrics in order to facilitate operating performance comparisons from period to period, the preparation of annual operating budgets and forecasts and to determine components of executive compensation.
Total Wagers
Total Wagers is calculated as the total amount of money bet by customers in respect of bets that have settled in the applicable period. Total Wagers does not include free bets or other promotional incentives, nor money bet by customers in respect of bets that are open at period end. Total Wagers is used to provide investors with supplemental measures of our operating performance and thus highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures.
Gross Gaming Revenue
Gross Gaming Revenue is calculated as dollar amounts bet by customers less the dollar amounts paid out to the customers in respect of such bets which have settled in the applicable period.
Reconciliation of Non-IFRS Measures to IFRS Measures
In Q3 2024, the Company reported $8.6 million of Gross Gaming Revenue ($24.9 million in YTD 2024) and has provided a reconciliation to the most comparable IFRS financial measure (Revenue) as follows:
| $ Millions (unaudited) | Three months ended | Nine months ended | ||
| Sept 30, 2024 | Sept 30, 2023 | Sept 30, 2024 | Sept 30, 2023 | |
| Gross gaming revenue from wagered games | 8.4 | 5.5 | 24.1 | 15.4 |
| Bonuses, promotional costs and free bets | 1.9 | 0.9 | 4.7 | 2.7 |
| Sub-total Gaming revenue | 6.5 | 4.6 | 19.4 | 12.7 |
| Other revenue from managed services | 0.3 | 0.1 | 0.8 | 0.3 |
| Revenue | 6.8 | 4.7 | 20.2 | 13.0 |
Operating Results
Marketing expenses are a key driver of the business but are completely discretionary. Management considers "Profit/(Loss) before marketing and other expenses" to be a good indication of the extent to which the business' Gross Margin is in excess of its overhead costs, and therefore offsetting some portion of marketing expenses, reflecting improving economies of scale.
| $ Millions (unaudited) | Three months ended | Nine months ended | ||
| Sept 30, 2024 | Sept 30, 2023 | Sept 30, 2024 | Sept 30, 2023 | |
| Revenue | 6.8 | 4.7 | 20.2 | 13.0 |
| Cost of Revenues | ||||
| Gross Margin | 2.7 | 1.6 | 8.0 | 4.7 |
| General and administrative expenses | 2.7 | 2.2 | 7.4 | 7.6 |
| Profit/(Loss) before marketing and other expenses (1) | (0.1) | (0.5) | 0.6 | (3.0) |
| Marketing | 2.8 | 2.0 | 10.2 | 8.6 |
| Loss before other expenses (1) | (2.9) | (2.5) | (9.6) | (11.6) |
| Other expenses | 0.3 | 1.7 | 4.7 | 6.4 |
| Net loss | (3.2) | (4.2) | (14.3) | (18.0) |
(1) These measures are not defined by IFRS, do not have standard meanings and may not be comparable with other industries or companies.
Cautionary Note Regarding Forward-Looking Information and Statements
This communication contains "forward-looking information" within the meaning of applicable securities laws in Canada ("forward-looking statements"), including without limitation, statements with respect to the following: expected performance of the Company's business, expansion into new markets and future growth opportunities and expected benefits of transactions. The foregoing are provided for the purpose of presenting information about management's current expectations and plans relating to the future and allowing investors and others to get a better understanding of the Company's anticipated financial position, results of operations, and operating environment. Often, but not always, forward- looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. This forward-looking information is based on management's opinions, estimates and assumptions that, while considered by NorthStar to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward- looking information. Such factors include, among others, the following: risks related to the Company's business and financial position; risks associated with general economic conditions; adverse industry risks; future legislative and regulatory developments; the ability of the Company to implement its business strategies; and those factors discussed in greater detail under the "Risk Factors" section of the Company's most recent annual information form, which is available under NorthStar's profile on SEDAR+ at www.sedarplus.ca. Many of these risks are beyond the Company's control.
If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking statements. Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking statements. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents NorthStar's expectations as of the date specified herein, and are subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.
For further information:
Company Contact:
Corey Goodman
Chief Development Officer 647-530-2387
investorrelations@northstargaming.ca
Investor Relations:
RB Milestone Group LLC (RBMG)
Northstar@rbmilestone.com
[1] Represents a Non-IFRS financial measure. See "Non-IFRS Financial Measures" below for more information.
[2] Revenue includes managed services fees, and Gross Gaming Revenue net of bonuses, promotional costs and free bets.
[3] iGaming Ontario's FY 2024-25 Q2 Market Performance Report, October 24, 2024.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231456
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