Carbon Done Right Developments Inc. (TSXV: KLX) (FSE: Q1C0) (the "Company" or "Carbon Done Right"), a company that carries on the business of developing validated and verified carbon credits from afforestation and reforestation of degraded land areas and marine ecosystems, announces that its principal regulator, the British Columbia Securities Commission, has granted an extension to the existing management cease trade order granted on April 30, 2024 (the "MCTO") from June 30, 2024 to July 12, 2024. The MCTO was granted due to a delay in the filing of the audited consolidated financial statements for the year ended December 31, 2023, annual management's discussion and analysis for the same period and management certification of annual filings (collectively, the "Filings").
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![Sona Nanotech Elects New Board Chair and is Awarded Patent](https://investingnews.com/media-library/image.png?id=33698852&width=1200&height=796)
Sona Nanotech Elects New Board Chair and is Awarded Patent
Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company" or "Sona"), a nanotechnology company developing pre-clinical Targeted Hyperthermia Therapy for colorectal cancer, is pleased to announce the election as chair of the board, Mr. Mark Lievonen, CM, who joined the board of Sona in December 2020. Mr. Lievonen served as president of Sanofi Pasteur Limited from 1999 to 2016, during which time it became a billion-dollar enterprise in Canada, manufacturing over 50 million doses of vaccines for both domestic and international markets. A corporate director and principal of JML Advisory Services, Mr. Lievonen also co-chairs Canada's COVID-19 Vaccine Task Force.
Mr. Lievonen also serves on a number of public companies and not-for-profit boards, and as an advisor to other businesses and institutions. Mr. Lievonen succeeds Mr. Jim Megann, principal of Numus Financial, who will continue to serve as a director of Sona.
"I am pleased to take on this role at Sona as the Company moves towards pre-clinical studies for its important Targeted Hyperthermia Therapy, focusing first on colorectal cancer. I'm energized by Sona's work generating and assembling the pre-clinical study data necessary to secure support from regulators for clinical trials and I look forward to fully contributing towards this goal."
Also, as contemplated in the Company's March 2023 acquisition of Siva Therapeutics, Inc., Leonard Pagliaro, PhD, has been appointed to Sona's board of directors. Dr. Pagliaro has held senior R&D, business development, and management positions for companies including Eurofins and ThermoFisher Scientific following his academic career at the University of Washington and Carnegie Mellon University, and he holds a PhD in cell biology and biochemistry from Wesleyan University.
"We are fortunate to have someone with the life sciences credentials and commercial accomplishments of Mark to step into the role of chair as Sona progresses its development of an important advanced medical therapy. We continue to build a winning team with the skillsets necessary to guide this development, including the recent engagement of a senior medical device product development consultant with significant experience taking such products from inception all the way to commercialization. We are also pleased to benefit from the continued acumen of Jim Megann who has ably served as chair since 2019. On behalf of Sona, thank you to both Mark and Jim for their continuing contributions and welcome to Len Pagliaro, PhD.," Sona's CEO, David Regan, commented.
The Company is also pleased to announce a first territorial patent grant for its proprietary, toxin-free gold nanorod manufacturing process with a registration in South Korea. Patent applications for other major markets are pending.
Contact:
David Regan, CEO
+1-902-536-1932
david@sonanano.com
About Sona Nanotech Inc.
Sona Nanotech is a nanotechnology life sciences firm that has developed multiple proprietary methods for the manufacture of various types of gold nanoparticles. The principal business carried out and intended to be continued by Sona is the development and application of its proprietary technologies for use in multiplex diagnostic testing platforms that will improve performance over existing tests in the market. Sona Nanotech's gold nanorod particles are cetyltrimethylammonium ("CTAB") free, eliminating the toxicity risks associated with the use of other gold nanorod technologies in medical applications. It is expected that Sona's gold nanotechnologies may be adapted for use in applications, as a safe and effective delivery system for multiple medical treatments, subject to the approval of various regulatory boards, including Health Canada and the FDA.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This press release includes certain "forward-looking statements" under applicable Canadian securities legislation, including statements the prospects for the granting of patents and the successful development of advanced medical therapies. Forward-looking statements are necessarily based upon a number of assumptions or estimates that, while considered reasonable, are subject to 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, including the risk that Sona may not be able to successfully secure animal pre-clinical and human clinical studies, obtain sufficient clinical and other data to submit regulatory submissions, raise sufficient additional capital or develop the envisioned therapy. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Sona disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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Carbon Done Right Developments Inc. Announces Extension to MCTO
The Company continues to work diligently with its auditors and expects to file the Filings as soon as possible, and in any event no later than July 12, 2024.
The MCTO restricts the Company's Chief Executive Officer and the Chief Financial Officer from trading in the Company's securities but does not affect the ability of other shareholders, including the public, to trade in securities of the Company.
The Company confirms that it will continue to satisfy the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly default status reporting in the form of news releases for so long as it remains in default of the above noted filing requirements.
About Carbon Done Right
'Carbon Done Right' is a technology enabled rainforest planting company that carries on the business of developing validated and verified carbon credits from afforestation and reforestation of degraded land areas and marine ecosystems, including mangroves, for sale into international voluntary carbon markets. Carbon Done Right works upstream as a direct owner and operator of projects, addressing a key supply constraint in the current market and the rapidly growing demand for carbon credits in global voluntary and regulated markets. The Company achieves this by investing in the exploration, restoration and management of terrestrial and marine systems that can either be protected to enhance the sequestration of greenhouse gases or restored from a degraded status to fully productive ecosystems. Carbon Done Right draws on the experience of a senior executive team and board that provide access into key target jurisdictions through relationships in the mining and natural resources sectors, combined with decades of experience in carbon markets. The Company deploys capital at risk under various arrangements (including cooperation, assignment, and production sharing agreements) with large landowners and governments in various suitable jurisdictions around the world.
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.
For further information:
Carbon Done Right Developments Inc.
James Tansey, Chief Executive Officer
Suite 390, 1050 Homer Street
Vancouver, British Columbia V6B 2W9
Email: james.tansey@klimatx.com
Cautionary Statements
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "intends" "expects" and similar expressions which are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the MCTO and completion of the audit of the Company's annual financial statements. Carbon Done Right cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of Carbon Done Right. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Carbon Done Right. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release, and Carbon Done Right does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214947
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Reworld Launches ReCredit Program for Sustainable Carbon Offsets
Reworld™, a leader in sustainable waste solutions, is announcing the launch of ReCredit a groundbreaking program designed to help customers achieve their net-zero goals through the purchase of sustainable carbon offsets. Reworld™ processes nearly 10 percent of the United States' garbage, significantly reducing net carbon emissions by avoiding methane-generating landfills. This effort prevents over 40 million metric tons of greenhouse gases annually, equivalent to the amount sequestered by 48 million acres of forest—an area spanning eight U.S. states.
ReCredit is one of several key solutions introduced by Reworldâ„¢ in its April rebrand, designed to support businesses in reducing greenhouse gas emissions and advancing toward net-zero. This partner program strengthens its relationships and offers exclusive ReCredits to preferred Reworldâ„¢ partners, empowering them to manage their carbon footprint.
To qualify for this program, Reworldâ„¢ partners must demonstrate dedicated sustainability goals with tangible results. Its inaugural member is cleantech company, Carbonxt .
"Reworldâ„¢ is committed to reimagining waste as a resource through reducing, reusing, recycling, recovering and renewing materials. This approach keeps waste out of landfills and helps our partners reach their decarbonization goals faster," said Gagan Sood , Chief Strategy & Growth Officer at Reworldâ„¢.
"At Carbonxt, our focus is on achieving optimal environmental outcomes for the carbon we produce. Our collaboration with Reworldâ„¢ represents a significant stride in fulfilling this dedication to sustainability stewardship. Initiatives like ReCredit are instrumental in helping us manage our Scope 1 and 2 goals effectively to make meaningful progress towards net zero and set a precedent for others in the industry to follow," stated Dr. Regina Rodriguez , CEO of Carbonxt.
ReCredit is one of many solutions that Reworldâ„¢ customers leverage on their sustainability journeys.
To learn more about ReCredit and explore Reworldâ„¢ focused solutions, including ReDirect360â„¢ (Zero Waste-to-Landfill), ReKilnâ„¢ (Alternative Fuel Engineering), ReDropâ„¢ (Wastewater Treatment), and ReMove (Transportation and Logistics), please visit reworldwaste.com .
About Reworldâ„¢
Reworldâ„¢ is a leader in sustainable waste solutions, providing innovative and environmentally responsible services to a global community. Reworldâ„¢ is committed to advancing zero waste initiatives and supporting sustainability goals through state-of-the-art technologies that reimagine, reduce, reuse, recycle, recover and renew. For more information, visit www.reworldwaste.com .
About Carboxt
Carbonxt (ASX:CG1) is a cleantech company that develops, and markets specialized activated carbon products, focused on the capture of contaminants in industrial processes that emit substantial amounts of harmful pollutants. The company produces and manufactures powdered activated carbon and activated carbon pellets for use in industrial air purification, water/wastewater treatment and other liquid and gas phase markets.
Media Contacts
Nicolle Robles
Nrobles@reworldwaste.com
(862) 345-5245
Coyne PR
reworld@coynepr.com
(973) 588-2000
View original content: https://www.prnewswire.com/news-releases/reworld-launches-recredit-program-for-sustainable-carbon-offsets-302182495.html
SOURCE Reworld Holding Corporation
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HEMPALTA Introduces Biochar Derived from Industrial Hemp, Further Establishes Hemp Carbon Sequestration Activity, and Grants Stock Options
Newly public AgTech Company continues to push forward with modernization and diversification of the industrial hemp market
Hempalta Corp. (TSXV: HEMP) ("Hempalta" or the "Company"), an agricultural technology company focused on harnessing the immense potential of hemp, today announced a new biochar product derived from industrial hemp and shared a number of corporate updates, including a name change for its processing division, expansion of those operations, and the granting of stock options.
"We're constantly working to find new ways to use industrial hemp to develop products including our new biochar product which the market wants, and which benefits the environment. We've also been successfully broadening our business focus by developing a global platform that can leverage the high carbon sequestration aspect of industrial hemp to assist hemp farmers in monetizing carbon removal credits on the voluntary carbon market," said Darren Bondar, Hempalta's President and CEO.
New Biochar Product
Hempalta has been working to actively develop new hemp-based products to complement its current products retailing in the market with the goal of creating additional revenue streams. Current products include animal bedding, pet litter, garden mulch, and hurd for hempcrete, which is a sustainable building material.
The Company is introducing biochar derived from industrial hemp to the market. Made by recycling industrial hemp biomass processed at the Company's production facility in Calgary or onsite at farmers' fields, biochar is produced through a process called pyrolysis, which heats organic material at high temperatures at extremely low oxygen levels. This method traps carbon and creates a product that can be spread on agricultural fields, boosting soil organic carbon and supporting plant growth while continuing to sequester carbon and helping to generate high-value carbon credits.
Biochar presents an exciting opportunity for the Company and for farmers, allowing hemp and other plant and farm waste to be converted into a sustainable and valuable commodity that can generate revenue through carbon credits, which for high-quality biochar typically sell for US$200 per ton of CO2 sequestered.
Carbon Removal Credits Update
In May 2024, the Company acquired its 50.1% controlling interest in Hemp Carbon Standard Inc. ("HCS"), the world's leading carbon removal program for industrial hemp farming.
HCS has begun making progress in the sale of carbon removal credits to corporate clients and other buyers. This includes a recent agreement for the sale of 514 carbon removal units to Concordium, a Layer 1 blockchain with built-in ID verification.
HCS employs advanced methodologies and monitoring technologies to ensure precise carbon sequestration for industrial hemp, which not only removes CO2 from the atmosphere but also enhances soil health and supports regenerative agriculture. The approach helps guarantee transparency and integrity in carbon accounting and enables corporate buyers of HCS carbon credits to achieve their sustainability goals. By participating in the Voluntary Carbon Market (the "VCM"), industrial hemp farmers can diversify their revenue streams and make meaningful contributions to climate change mitigation.
To date in 2024, HCS has signed up 36 farms, over 184 sites, and 5,486 hectares (13,555 acres) in Canada, the United States, Ukraine, the United Kingdom, Spain, Portugal, and Australia - which is forecast to result in the removal of approximately 54,000 tonnes of CO2 from the atmosphere, creating an equal amount of high-integrity, nature-based carbon removal credits which the Company plans to sell through the VCM.
Name and Expansion of Processing Operations
The Company announced its subsidiary, Hempalta Inc., has changed its name to Hempalta Processing Inc. The new name better reflects the subsidiary's core business activity which is the processing of industrial hemp into consumer and commercial products at the Calgary production facility.
The Company also announced that expansion of the production facility by approximately 6,500 square feet is underway with preliminary required approvals achieved. The expansion will enable Hempalta Processing Inc. to increase processing capacity to meet the growing demand for hemp-based products.
Stock Option Grant
Hempalta has granted 1,825,000 stock options to its directors, officers, and employees pursuant to the Company's stock option plan. Each stock option is exercisable to purchase one common share in the capital of the Company at $0.17 per share until June 24, 2029. One-quarter of the stock options vested on the date of grant, one-quarter will vest one year following the date of grant, one-quarter will vest two years following the date of grant, and one-quarter will vest three years following the date of grant.
Outlook
"We're very pleased to be launching the biochar product derived from industrial hemp. It complements our existing suite of products, which includes animal bedding, pet litter, garden mulch, and hurd for hempcrete. Biochar offers environmental benefits by sequestering carbon and improving soil health. Additionally, we're positioned to play a unique role in the growing carbon credit marketplace with our suite of nature-based solutions, helping farmers and corporate clients achieve their sustainability goals," said Bondar. Hempalta's next quarterly financial results are due to be released in late August 2024.
Investor Updates
Stay updated on Hempalta's ongoing developments and investor announcements by subscribing to our mailing list. Click here to subscribe and join our community as we advance towards a greener future.
About Hempalta
Hempalta Corp. (TSXV: HEMP) is an agricultural technology company focused on harnessing the immense potential of hemp. The Company is pioneering the global hemp carbon credit industry and utilizing advanced agricultural technology to process industrial hemp at scale. Hempalta is the first company in Canada to introduce the creation and sale of hemp carbon removal credits in the Voluntary Carbon Market and offer corporate buyers the opportunity to secure such credits through its controlling interest in Hemp Carbon Standard Inc. Hempalta's products are made from hemp grown sustainably in Alberta and processed using a state-of-the-art processing plant at its production facility in Calgary, Alberta. The Company is led by passionate advocates for industrial hemp who have years of operations, manufacturing, marketing, consumer packaged goods, and retail sales experience. Hempalta has been named a Top 10 Startup by Platform Calgary's Launch Party and recognized as one of the 50 most investable clean technology companies by Foresight Canada. Learn more at www.hempalta.com.
HEMP TO BETTER THE PLANET.â„¢
For more information please contact:
Hempalta Corp.
Darren Bondar
President and CEO
Email: info@hempalta.com
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.
Forward-Looking Information
This news release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information is typically, but not always, identified by the use of words such as "will", "anticipated", "plans", "forecasted" and similar words, including negatives thereof, or other similar expressions concerning matters that are not historical facts. Forward-looking information in this news release includes, but is not limited to, statements regarding: the expansion of the production facility enabling Hempalta Processing Inc. to increase processing capacity to meet the growing demand for hemp-based products; the forecasted removal of over 54,000 tonnes of CO2 from the atmosphere by the farms and sites signed up by HCS so far; and the creation of an equal amount of high-integrity, nature-based carbon removal credits, and the plans of the Company to sell such carbon removal credits through the VCM. Such forward-looking information is based on various assumptions and factors that may prove to be incorrect, including, but not limited to, factors and assumptions with respect to: the ability of the Company to successfully implement its strategic plans and initiatives and the expected benefits therefrom; the anticipated benefits derived from the Company's controlling interest in HCS; the ability of farms and sites currently signed up by HCS to grow hemp; the ability of the Company to successfully complete the expansion of the production facility; and the ability of the Company to sell carbon removal credits through the VCM. Although the Company believes that the assumptions and factors on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that it will prove to be correct or that any of the events anticipated by such forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. Actual results may vary from those currently anticipated due to a number of factors and risks including, but not limited to: the risk that the expansion of the production facility will not be completed; risks associated with general economic conditions; conditions in the carbon credit markets; adverse industry events; the risk that farms and sites currently signed up by HCS will not grow or be able to grow industrial hemp as anticipated or at all; the risk that the Company may not be able to sell carbon removal credits as anticipated or at all; adverse weather conditions affecting the growth of hemp; future legislative, tax and regulatory developments; and the ability of management to execute its business strategy, objectives and plans. The forward-looking information included in this news release is made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise, except as required by applicable law.
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214258
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Soccer or Football? Northstar Gaming Poll Finds Most Canadians Unexpectedly Divided When Referring to the Game as Soccer or Football but the Friendly Debate Remains Uncapped
Three in five Canadians (60%) refer to the sport as soccer while less than a quarter (21%) refer to it as football or use both names interchangeably (18%).
Among Canadians who call the game soccer, the majority do so to distinguish the sport from North American football (71%), while a quarter use the name because their family and friends (24%) do.
NorthStar Gaming Holdings Inc. (TSXV: BET It's a wonderful time of year to be a fan of the beautiful game with marquee international tournaments taking place across different continents, including the Canadian squad kicking off their tournament tonight at 8:00 p.m. ET.
As national teams from around the world compete for glory on the pitch, Canada's biggest soccer fans will gather and cheer on their favourite teams for the next month.
Inspired by Canada's diverse fanbase, NorthStar Bets commissioned a national survey of 1,500 Canadians to identify how cultural differences impact the name they give to the sport and explore the passion behind why they call it soccer or football.
Key survey findings:
- Nearly two in five Canadians (38%) refer to the game as football because the game primarily uses feet.
- Three in five Canadians (60%) refer to the sport as soccer and not football.
- Canadians over 60 are two-thirds (68%) more likely to refer to the game as soccer and the least likely (16%) to call the game football compared to other generations.
- Those in Quebec are the least likely (13%) to refer to the game as football.
- Among Canadians who call the game soccer, most do so to distinguish it from North American football (71%) while a quarter do so because family and friends (24%) refer to it as such.
- Only a third (32%) of Canadians are aware of the historical and cultural reasons behind the different terms ''soccer'' and ''football'' with only 10 per cent very aware.
"The Beautiful Debate is a groundbreaking campaign celebrating the vibrant diversity of Canada's fanbase, which includes cultural backgrounds from around the world. This campaign highlights the nuances surrounding the name of the sport, igniting a profound sense of pride and loyalty among family, friends and fans," said Dante Anderson, VP Marketing, NorthStar Gaming. "The origins and history of soccer versus football span decades with a unique duality that both divides and unites. Our goal is to encourage fans to express their passion for the sport by fostering a spirited, friendly debate and invite Ontarians to cast their vote."
In addition to encouraging Ontario's biggest fans to cast their vote, NorthStar Bets is taking The Beautiful Debate one step further by allowing them to customize their betting experience to the "language" they prefer. On NorthStar Bets, users can now use a new "toggle" feature that will allow players to choose Soccer or Football (.CA only) for their gaming experience.
All NorthStar Bets players will also have access to robust wagering markets, alongside educational and insightful analysis related to matches taking place in global tournaments.
The first of its kind from NorthStar Bets, the brand will offer soccer fans, tournament viewers or passersby a unique engagement billboard located in downtown Toronto at the corner of College St. and Bathurst St. on Monday, June 24th, between 1-9 p.m. where Torontonians will be able to cast their vote live and watch as the scoreboard tallies up the results of The Beautiful Debate.
To experience the platform yourself, download the app or visit www.northstarbets.com (outside of Ontario) or www.northstarbets.ca (Ontario only).
The survey, conducted in June 2024, was in partnership with market research firm Maru/Blue from Maru Group and gathered insights from over 1,500 Canadians over the age of 19, with representation from every province.
About NorthStar
NorthStar Gaming Holdings Inc. ("NorthStar") (TSXV: BET) (OTCQB: NSBBF) proudly owns and operates NorthStar Bets, a made-in-Ontario casino and sportsbook gaming platform that provides players with a uniquely local, premier user experience. The NorthStar Bets sportsbook provides real-time news, stats, analysis and scores directly in the betting environment along with the most popular online casino games. NorthStar's subsidiary, Slapshot Media Inc., provides managed services to Northstarbets.com, an iGaming site owned and operated by the Abenaki Council of Wolinak.
A Canadian company, NorthStar is uniquely positioned to become a convergence leader in the intersection of sports media and sports wagering thanks to its partnerships and agreements with leading media companies. 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.
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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213665
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Forward Water Technologies Corp. and Fraser Mackenzie Accelerator Corp announce Advance of Secured Loan
Forward Water Technologies Corp. ("FWTC") (TSXV:FWTC) and Fraser Mackenzie Accelerator Corp. (the "MAC") (TSXV:FMAC.P) are pleased to announce that, further to their joint news release of May 14, 2024 announcing the proposed transaction between FWTC and FMAC (the "Transaction"), they continue to work to advance the Transaction
Loan Advance
FMAC has advanced to FWTC an additional $25,000 by way of a secured loan (the "FMAC Loan"). The FMAC Loan shares a pari passu security ranking with FMAC's previous loan of to FWTC of $25,000 and with loans previously advanced by existing FWTC shareholders FirstLine Venture Partners Corporation and Sustainable Chemistry Alliance. The FMAC Loan will mature on December 31, 2024 and will bear interest at a rate of 20% per annum commencing on the date that is 120 days following the entering into of the definitive agreement to be entered into in connection with the Transaction, with no interest being charged prior to such date. FMAC has obtained TSXV approval to loan up to $225,000 to FWTC (inclusive of the $25,000 FMAC Loan).
FWTC and FMAC continue to work towards execution of the definitive agreement. The Transaction is intended to be FMAC's qualifying transaction for purposes of TSX Venture Exchange ("TSXV") policies. FWTC, after completion of the Transaction, is referred to as the "Resulting Issuer".
Concurrent Financing
In conjunction with the Transaction, FMAC proposes to raise a minimum of $1,400,000 in gross proceeds from the sale of FMAC subscription receipts (each, a "Subscription Receipt") at a price of $0.15 per Subscription Receipt (the "Concurrent Financing Price"). Each Subscription Receipt will entitle the holder to receive one FMAC common share (an "FMAC Share") and one-half of a FMAC common share purchase warrant, each whole such warrant (an "FMAC Warrant") will entitle the holder to purchase one FMAC Share at an exercise price of $0.20 at any time prior to the third anniversary of the issuance of such warrant.
The Transaction is proposed to occur following a 10 for 1 consolidation of the FWTC common shares: (a) the FMAC Shares (including, for greater certainty, the FMAC Shares issued upon exercise of the Subscription Receipts) will be exchanged on an approximately one for one basis for common shares in the capital of FWTC ("Resulting Issuer Shares") and the FMAC Warrants will be exchanged on an approximately one for one basis for common share purchase warrants of FWTC ("Resulting Issuer Warrants ; and (b) the Resulting Issuer Shares will be listed on the TSXV. Assuming that $1,400,000 is raised in the Concurrent Financing, this will result in 97,127,920 pre-consolidation Resulting Issuer Shares (or 9,712,792 post-consolidation Resulting Issuer Shares) being issued to the investors in the concurrent financing on closing of the Transaction. The Concurrent Financing Price is equivalent to $0.0144 per FWTC Share on a pre-exchange, pre-consolidation basis, or $0.144 per FWTC Share on a pre-exchange, post-consolidation basis.
Further Information
For more information concerning the Transaction, see the Company's news release dated May 14, 2024. The parties will provide further details in respect of the Transaction in due course by way of press release in accordance with the requirements of the CPC Policy.
About Forward Water Technologies Corp.
Forward Water Technologies Corp. (TSX.V: FWTC) 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, DLE, mining, agriculture and ultimately municipal water supply and re-use market sectors.
FWTC has immediate plans to treat brine from the direct lithium extraction (DLE) sector using is mobile pilot equipment this summer in conjunction with its partners. This project will establish FWTC's iFOTM technology as a valuable component in producing lithium carbonate from aquifer sourced brines for use in applications such as electric vehicle (EV) battery production.
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.
About Fraser Mackenzie Accelerator Corp.
FMAC is a "capital pool company" which completed its initial public offering on February 22, 2023. The common shares of FMAC ("FMAC Shares") are listed for trading on the TSX Venture Exchange Inc. ("TSXV") under the stock symbol FMAC.P. FMAC has not commenced commercial operations and has no assets other than cash. It is intended that the Transaction, when completed, will constitute the "Qualifying Transaction" of FMAC pursuant to Policy 2.4 - Capital Pool Companies (the "CPC Policy") of the TSXV.
Contact Information:
Fraser Mackenzie Accelerator Corp.
Philip Benson, President & Chief Executive Officer
Email: pbenson@frasermackenzie.com
Telephone: 416-818-6163
Forward Water Technologies Corp.
C. Howie Honeyman, Chief Executive Officer
E-mail: howie.honeyman@forwardwater.com
Telephone: (519) 333-5888
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.
Caution Concerning Forward Looking Information
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward looking statements concerning the Transaction, the Concurrent Financing, the Consolidation, the ability of FWTC and FMAC to meet the conditions of the Transaction in the required timeframes, the execution of a Definitive Agreement, obtaining the necessary exemptions and approvals from the TSXV or other regulatory bodies, including the business, name and function of the Resulting Issuer and certain financial information and forecasts. FWTC and FMAC caution that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of FWTC and FMAC, including expectations and assumptions concerning the FWTC, FMAC, the Resulting Issuer, the Transaction, the timely receipt of all required shareholder, court (if applicable) and regulatory approvals (as applicable), including the acceptance of the TSXV, the satisfaction of other closing conditions in accordance with the terms of the Definitive Agreement, as well as other risks and uncertainties, including those described in FWTC and FMAC's respective disclosure documents available on SEDAR+ at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of FWTC and FMAC. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release, and neither FWTC nor FMAC undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
SOURCE:Forward Water Technologies Corp.
View the original press release on accesswire.com
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Retraction: Singular Research Initiates Coverage On Bitcoin Well
(TheNewswire)
Edmonton, Alberta June 14 2024 TheNewswire Bitcoin Well Inc. (" Bitcoin Well " or the " Company ") ( TSXV: BTCW; OTCQB: BCNWF ), the non-custodial bitcoin business on a mission to enable independence, at the request of CIRO wishes to retract the news release issued on June 14, 2024 titled "Singular Research Initiates coverage on Bitcoin Well with Buy Rating". The company did not pay for the report.
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 call this 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 , , and to keep up to date with our business.
Bitcoin Well contact information
For additional investor & media information, please contact:
Adam O'Brien
Tel: 1 888 711 3866
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, which 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. All statements herein other than statements of historical fact constitute forward-looking information including, but not limited to, statements in respect of 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 including, but not limited to, the risk factors described in Bitcoin Well's annual information form and management's discussion and analysis for the year ended December 31, 2023. 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. Bitcoin Well disclaims any intention or obligation to revise any forward-looking information, except as required by applicable securities legislation.
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