Latest news with #Cboe
Yahoo
a day ago
- Business
- Yahoo
Denarius Metals Closes Life Offering of Units for Gross Proceeds of Approximately CA$6.75 Million
Toronto, Ontario--(Newsfile Corp. - June 20, 2025) - Denarius Metals Corp. (Cboe CA: DMET) (OTCQX: DNRSF) ("Denarius Metals" or the "Company") announced today that it has closed its previously announced "best efforts" agency basis private placement (the "Offering") led by Stifel Nicolaus Canada Inc. (the "Agent"), issuing a total of 12,280,309 units (the "Units") at CA$0.55 per Unit for gross proceeds of CA$6,754,169.95. Each Unit consisted of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share of the Company at a price of CA$0.66 per common share at any time on or before June 20, 2030. This brings the Company's issued and outstanding common shares as of the current date to 121,791,730 common shares. The Company intends to use the net proceeds of the Offering to fund its projects in Spain, including the advancement of scoping and other studies, and site administration costs at its Lomero and Toral Projects, capital contributions related to certain restart activities and site administration costs at the Aguablanca Project, to fund certain exploration and development expenditures at its Zancudo Project in Colombia and for general corporate purposes and working capital of the Company. Following closing of the Offering, Serafino Iacono beneficially owns and controls 22,078,355 common shares (which represents approximately 18.13% of the Company's issued and outstanding common shares), 1,650,000 stock options, 7,784,650 unlisted warrants, CA$1,939,306 senior unsecured convertible debentures due 2029 and CA$6,554,520 unsecured convertible debentures due in 2030. Prior to closing the Offering, Mr. Iacono beneficially owned and controlled 22,078,355 common shares, representing approximately 20.16% of the Company's issued and outstanding common shares. Assuming full exercise of his stock options, unlisted warrants and senior unsecured convertible debentures, Mr. Iacono would have control and direction over 46,746,773 common shares, representing 31.92% of the then outstanding common shares on a partially diluted basis. Further to the Company's press release dated June 9, 2025, the Company has satisfied Cboe Canada's shareholder approval requirement and obtained written consent of at least 50% of the holders entitled to vote for approval of the Offering. The Units were offered to purchasers by way of the "listed issuer financing" exemption under Part 5A (the "LIFE Exemption") of National Instrument 45-106 - Prospectus Exemptions ("NI 45-106") in all the provinces of Canada other than Québec. Upon closing of the Offering, the Units are immediately freely tradeable under applicable Canadian securities legislation. In conjunction with the Offering, the Company paid a cash fee of 7% of the gross proceeds of the Offering and issued 859,621 broker warrants, each to the Agent. Each broker warrant entitles the Agent to purchase one common share of the Company at a price of CA$0.66 per common share at any time on or before June 20, 2030. Wildeboer Dellelce LLP acted as legal counsel to Denarius Metals and Miller Thomson LLP acted as legal counsel to the Agent. No U.S. Offering or Registration This news release does not constitute an offer to sell, or the solicitation of an offer to buy securities in any jurisdiction, including the United States, other than the provinces and territories of Canada. The securities offered pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "US Securities Act"), or the securities laws of any state of the United States. Such securities may not be offered or sold in the United States or to, or for the account or benefit of, any U.S. Person (as defined in Regulation S of the US Securities Act) or person in the United States except in a transaction exempt from or not subject to the registration requirements of the US Securities Act and applicable state securities laws. About Denarius Metals Denarius Metals is a Canadian junior company engaged in the acquisition, exploration, development and eventual operation of precious metals and polymetallic mining projects in high-grade districts in Colombia and Spain. Denarius Metals is listed on Cboe Canada where it trades under the symbol "DMET". The Company also trades on the OTCQX Market in the United States under the symbol "DNRSF". In Colombia, Denarius Metals recently commenced mining operations at its 100%-owned Zancudo Project, a high-grade gold-silver deposit, which includes the historic producing Independencia mine, located in the Cauca Belt, about 30 km southwest of Medellin. In Spain, Denarius Metals has interests in three projects focused on in-demand critical minerals. The Company owns a 21% interest in Rio Narcea Recursos, S.L. and is the operator of its Aguablanca Project, which has recently been recognized by the EU as a Strategic Project. The Aguablanca Project comprises a turnkey 5,000 tonnes per day processing plant and the rights to exploit the historic producing Aguablanca nickel-copper mine, located in Monesterio, Extremadura. Denarius Metals also owns a 100% interest in the Lomero Project, a polymetallic deposit located on the Spanish side of the prolific copper rich Iberian Pyrite Belt, approximately 88 km southwest of the Aguablanca Project, and a 100% interest in the Toral Project, a high-grade zinc-lead-silver deposit located in the Leon Province, Northern Spain. Additional information on Denarius Metals can be found on its website at and by reviewing its profile on SEDAR+ at Cautionary Statement on Forward-Looking Information This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to anticipated business plans or strategies, including the use of proceeds of the Offering. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Denarius Metals to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated March 31, 2025 which is available for view on SEDAR+ at Forward-looking statements contained herein are made as of the date of this press release and Denarius Metals disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. For Further Information, Contact: Michael DaviesChief Financial Officer(416) 360-4653investors@ NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES To view the source version of this press release, please visit
Mint
a day ago
- Business
- Mint
Fed's forecast ‘Fog' adds more clouds to stock market outlook
Federal Reserve Chairman Jerome Powell probably spoke for a lot of people on Wall Street when he explained to reporters how challenging it was to put together the central bank's new growth and inflation projections. 'Right now it's just a forecast in a very foggy time," Powell said after he and his colleagues trimmed their near-term gross economic growth estimates while nudging their inflation predictions higher. They also made no changes to their guidelines for at least two rate cuts between now and the end of the year. The so-called dot plot, which shows the rate path projections of 19 Fed officials, forecasts two quarter-point reductions this year. But it also was one estimate away from showing just one. Projections for 2026 were just as ephemeral: The median dot plot for next year shows one rate cut, but if one official had thought differently it could have been as high as three cuts. 'Remember, though … with uncertainty as elevated as it is no one holds these rate paths with a lot of conviction," Powell cautioned. 'Every outside forecaster and the Fed is saying that we expect a meaningful amount of inflation to arrive in the coming months and we have to take that into account. " If the man at the helm of the central bank guiding the world's largest economy is lacking the certainty needed to plot out the next six months, it's safe to say markets are in for a heck of a ride over the back half of the year. The S&P 500's solid spring rally already has stalled, with the benchmark now just 0.3% higher over the past month, and the average Wall Street forecast calls for only a modest advance by the end of the year. The Cboe's benchmark VIX volatility gauge, meanwhile, sits just a few ticks away from its highest levels since late May. Options traders are currently expecting daily swings for the S&P 500 of around 1.3%, or 78 points, over the next month. Senate lawmakers continue to tinker with a Republican tax-and-spending bill that will add an estimated $3.4 trillion to the federal deficit over the next decade. Sweeping tariffs put in place by President Donald Trump, which were then paused, then adjusted yet again, are still to pass through into the real economy. Higher oil prices from the escalating conflict between Israel and Iran, as well as America's role in it, are also set to stoke headline inflation pressures. 'Many global and domestic growth influences that stem from these issues will clearly matter," said Rick Rieder, chief investment officer of global fixed income at BlackRock. 'But other things are merely noise, so discerning the difference becomes crucial." That is a challenge for Powell, as well, who mentioned the word 'uncertainty" at least 14 different times during his press conference on Wednesday. He also added about 30 references to the 'tariffs" that are likely to drive inflation higher over the second half of the year. One thing he seemed more certain of, however, was the state of the job market. Powell said unemployment remains historically low, wage gains are moderating but outpacing inflation and 'indicators suggest that conditions are broadly in balance and consistent with maximum employment." But Powell also was bullish on the job market in June of last year, when dot plot projections called for just one rate cut over the next six months. Labor weakness ultimately propelled the Fed to deliver a full percentage point of cuts, including a 50-basis-point reduction within three months. 'We think the committee again is unduly sanguine about the outlook for the unemployment rate," said Samuel Tombs, chief U.S. economist at Pantheon Macroeconomics. That could play a huge role in the Fed's autumn forecasts, particularly if inflation begins to reheat just as the economy mellows into the doldrums and geopolitical risks intensify. 'Markets will need to be patient as we await incoming data that will reveal the extent to which tariffs will drive higher inflation and slower growth," said Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management. Write to Martin Baccardax at
Business Wire
2 days ago
- Business
- Business Wire
Greenland Resources Receives 30-Year Exploitation License for Molybdenum and Magnesium
NUUK, Greenland--(BUSINESS WIRE)--Greenland Resources Inc. (Cboe CA: MOLY | FSE: M0LY) and its fully owned Greenlandic subsidiary Greenland Resources A/S ('Greenland Resources' or the 'Company') is pleased to announce that today the Greenland's Minister for Business, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, together with Dr. Ruben Shiffman, Chairman of the Board of Directors of Greenland Resources, signed a 30-year exploitation permit for molybdenum and magnesium for the Company's Malmbjerg project in east Greenland (now defined as the Piiaaffik Høstakken). The Company can apply to extend the licence period up to 50-years. Naalakkersuisut's Minister for Business, Mineral Resources, Energy, Justice and Gender Equality, Naaja H. Nathanielsen, stated at the handover ceremony: "It is with great satisfaction that the Greenland Government can grant another exploitation permit to a mineral resources company. The progress we are experiencing in the mineral resources sector is good news for all of us. The mineral resources projects contribute to the Greenland Government's goal of a self-sustaining economy and local communities are served through job creation, tasks for the local business community and through the so-called IBA, which is a one-party agreement between the company, the municipality and the self-government that focuses on the local community. The exploitation permit to Greenland Resources comes shortly after they have entered into a 10-year offtake agreement with some of the largest steel companies in Europe. It is a sign of confidence in our mining industry in general, but also in Greenland Resources and their project. I look forward to continuing the collaboration with Greenland Resources A/S, and I wish us all congratulations and good work ethic." Naalakkersuisut's Minister for Social Affairs, Labour Market, Internal Affairs and Environment, Bentiaraq Ottesen, stated: "With the granting of the exploitation permit, Greenland Resources is taking an important step towards the development of their project. For Naalakkersuisut, it is important that mineral projects are carried out with respect and understanding for our nature and with a focus on both our environment and society. This requires openness, professionalism and a close dialogue with, and involvement of, the local communities. We know that mineral projects can influence the surroundings, and therefore mining projects must be carried out responsibly and with clear environmental frameworks. At the same time, in Naalakkersuisut we view it as positive that the project has the potential to create local jobs and contribute to economic development." Executive Chairman of the Board of Greenland Resources A/S, Dr. Ruben Shiffman, stated at the signing ceremony: 'We sincerely thank the government of Greenland. Our team has a good track record from previous mining projects on sustainable mining and providing wealth and prosperity to communities. Malmbjerg has the potential to generate close to US$1 billion in taxes during the 20-year life of the mine (according to our NI 43-101 Feasibility Study), can create critical infrastructure on the east coast, and provide people with new life skills. The project comes at a time of deglobalization and significant growth in defence expenditures. It will be able to supply around 25% of all EU molybdenum needs and 100% of defence applications (more than 80% of the metallic materials for defence require molybdenum). The EU is the second largest worldwide user of molybdenum, has large processing capacity and the best specialty steel products, but has no molybdenum extraction. Only one country currently supplies the EU with primary molybdenum, ideal for high performance steel and defence, and with magnesium vital for electric vehicle production. Malmbjerg will change this.' The Company will continue working on the remaining requirements that can be fulfilled subsequent to the grant of the exploitation license. Mining activities must commence no later than December 31, 2028, unless otherwise approved. The Company expects to provide a positive update soon on the debt and equity part of the capex financing strategy, including strategic investors. The Company's strategy focuses on servicing mainly the European Union ('EU') market. About Molybdenum and the EU The EU is the second largest molybdenum user worldwide, (around 122 million pounds of molybdenum per year, 19% of the global demand according to IMOA), has large processing capacity, produces the best specialty steel products worldwide but has no molybdenum extraction. Green energy technologies, steel and defence are the key drivers for market growth. When molybdenum is added to steel and cast iron, it enhances strength, hardenability, weldability, toughness, temperature strength, and corrosion resistance. To a greater degree, the EU steel dependent industries like automotive, construction, and engineering, represent around 18% of EU GDP. Greenland Resources strategically located Malmbjerg project has the potential to supply in and for the EU approximately 25% of the EU demand of environmentally friendly high-quality primary molybdenum from a responsible EU Associate country for decades to come, as well as 100% of EU defence molybdenum consumption. More than 80% of the metallic materials (including carbon and stainless steels) to be used for defence applications require molybdenum alloying. The primary molybdenum in the Malmbjerg project is ideal for EU defence and high-performance steel applications because of low deleterious elements and long-term security supply. The EU expects to increase defense expenditures from current 1.5% to around 4% of GDP. Primary molybdenum is only produced in China (87%) and the USA (13%), China imposed export controls on molybdenum and is now a net importer. Molybdenum is categorized as a critical and/or strategic mineral across the top five defence nations in the world: U.S., China, Russia, India, and South Korea. About Magnesium and the EU The EU uses around 145,000 tones of magnesium per year (15% of the global demand) but has no treatment facilities nor extraction. Electric vehicle production and sustainable manufacturing practices are key drivers for market growth. Magnesium is a light metal with a high strength-to-weight ratio, primarily utilized in the form of magnesium metal or magnesium compounds such as caustic-calcined magnesia, magnesium chloride, hydroxide and sulfates. Magnesium metal is primarily used as casting alloy in automotive and aerospace industries (64%), aluminum-base alloys for packaging and transportation (18%), and in the desulfurization of iron and steel (4%). Smelter production of magnesium metal in 2024 was 1 million metric tonnes, 85% coming from seawater, while smelter capacity worldwide is double. Also, approximately 75% of magnesium compounds serve industrial purposes including fertilizers, cattle feed, Epsom salts, heat-resistant bricks, de-icing etc. (USGS 2024). China produces 89% of the world magnesium and Europe sources 97% of its magnesium from China (EC, 2023). Qualified Person Statement The news release has been reviewed and approved by Mr. Jim Steel, M.B.A. a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 'Standards of Disclosure for Mineral Projects'. Greenland Resources Inc. Greenland Resources is a Canadian public company with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100% owned Climax type primary molybdenum deposit located in central east Greenland. The Project has also magnesium as a byproduct, a market dominated 89% by China. The Malmbjerg project is an open pit operation with an environmentally friendly mine design focused on reduced water usage, low aquatic disturbance and low footprint due to modularized infrastructure. The Malmbjerg project benefits from an NI 43-101 Definitive Feasibility Study completed by Tetra Tech in 2022, with an US$820 million capex and a levered after-tax IRR of 33.8% and payback of 2.4 years, using US$18 per pound molybdenum price. The Proven and Probable Reserves are 245 million tonnes at 0.176% MoS 2, for 571 million pounds of contained molybdenum metal. As the high-grade molybdenum is mined for the first half of the mine life, the average annual production for years one to ten is 32.8 million pounds per year of contained molybdenum metal at an average grade of 0.23% MoS 2, approximately 25% of EU total yearly consumption and 100% of EU defence needs. On byproduct magnesium, the project uses approximately 35,000 m 3 per day of saline water with around 900 ppm of magnesium and the Company is working on extracting magnesium from the saline water using innovative technologies. In addition, the molybdenum concentrate has a magnesium component. The Company is aiming to incorporate magnesium in the economics of the feasibility study. On June 19, 2025, The Company was awarded an exploitation license for molybdenum and magnesium. With offices in Toronto, the Company is led by a management team with an extensive track record in the mining industry and capital markets. For further details, please refer to our web site ( and our Canadian regulatory filings on Greenland Resources' profile at The Project is supported by the European Raw Materials Alliance (ERMA). ERMA is managed by EIT RawMaterials, an organization within the EIT, a body of the European Union. Forward Looking Statements This news release contains "forward-looking information" (also referred to as "forward looking statements"), which relate to future events or future performance and reflect management's current expectations and assumptions. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "hopes", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the award of the exploitation permit for molybdenum and magnesium for the Malmbjerg project and expected benefits to be received therefrom; mine permit matters; the Company's completion of remaining conditions of the exploitation permit; expected and estimate production from the Malmbjerg project and the extent to which such production may be able to meet the demand of the European Union; the impact of the exploitation permit and the Malmbjerg project on the population and broader economy and society of Greenland; taxes expect to result from the Malmbjerg project; expected uses of and demand for molybdenum and magnesium, in general and in particular regarding such minerals produced from the Malmbjerg project; expected future updates or disclosures from the Company regarding any of the foregoing; and the Company's objectives, goals or future plans. These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: future planned development and other activities on the Project; satisfactory completion of the Environmental Impact Assessment (EIA); successful completion of public consultation for the Social Sustainability Assessment (SIA); the ability to finance the Company including successfully concluding off-take arrangements, banking facilities and strategic investment; successful completion of the mining and closure plans and obtaining the permitting on the Project in a timely manner; no adverse changes to the planned operations of the Project; continued favourable relationships with local communities; current EU and other initiatives remaining in place into the future; expected demand for molybdenum and magnesium in the EU and abroad, including by companies that expressed an interest in purchasing molybdenum and magnesium; our mineral reserve estimates including magnesium and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the technical studies; estimated valuation and probability of success of the Company's projects, including the Malmbjerg molybdenum project; prices for molybdenum and magnesium remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects; capital decommissioning and reclamation estimates; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner or at all; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: favourable local community support for the Project's development; the projected demand for molybdenum and magnesium both in the EU and elsewhere, including by companies that expressed an interest in purchasing molybdenum and magnesium; the current initiatives and programs for resource development in the EU and abroad; the projected and actual status of supply chains, labour market, currency and commodity prices interest rates and inflation; the projected and actual status of the global and Canadian capital markets, fluctuations in molybdenum, magnesium and commodity prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar versus the Euro); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structure formations, cave-ins, flooding and severe weather); inadequate insurance, or the inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in Greenland, including environmental, export and import laws and regulations; legal restrictions relating to mining; risks relating to expropriation; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR+ in Canada (available at Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described, or intended. Investors are cautioned against undue reliance on forward-looking statements or information. These forward-looking statements are made as of the date hereof and, except as required by applicable securities regulations, the Company does not intend, and does not assume any obligation, to update the forward-looking information. Neither the Cboe Canada Exchange nor its regulation services provider accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Cision Canada
3 days ago
- Business
- Cision Canada
The INX Digital Company, Inc. Announces Update on Transaction with Republic
TORONTO and NEW YORK, June 18, 2025 /CNW/ - The INX Digital Company, Inc. (Cboe CA: INXD) (OTCQB: INXDF) (INXATS: INX) (" INX" or the " Company") announces that in connection with its previously announced plan of arrangement under section 288 of the Business Corporations Act (British Columbia) (" Arrangement") involving the Company, OpenDeal Inc. (d/b/a Republic) (" Republic") and Republic Strategic Acquisition Co LLC (the " Purchaser"), a wholly-owned subsidiary of Republic, MMCAP International SPC ("MMCAP"), the Company's largest shareholder, and Meni Benish, another significant shareholder of the Company (together, the " Additional Rollover Shareholders"), will enter into rollover agreements with Republic. Shy Datika, Founder and CEO of INX, Triple V (1999) Ltd. (" Triple V"), a company wholly-owned by Mr. Datika, the Additional Rollover Shareholders (collectively, the " Rollover Shareholders") and Republic collectively hold 40% of the common shares (" Shares") of the Company that are expected to be issued and outstanding at close. As a result, the rollover share limit has been achieved and, based on the current CAD:USD exchange rate, the consideration payable to shareholders of the Company (other than Republic or the Rollover Shareholders) under the Arrangement is expected to be US$0.2391 per Share (assuming full payment of the CVRs). 1 MMCAP will enter into a rollover agreement substantially in the form that was attached to the arrangement agreement dated April 3, 2025 between the Company, Republic and the Purchaser (as amended on May 6, 2025, the " Arrangement Agreement") and will enter into a simple agreement for future equity (a " SAFE") with Republic on closing. In accordance with advice received from its legal advisors, Rollover Shareholders who are Israeli residents for tax purposes and wish to be included in the Israeli tax pre-ruling request that is being sought by the Company, cannot enter into SAFEs. Instead, they must receive their consideration immediately upon completion of the Arrangement through a direct issuance of shares of Republic. As a result, Mr. Benish will enter into a form of rollover agreement that is in compliance with the requirements of the Israeli Tax Authority and provides that Mr. Benish will be issued, upon completion of the Arrangement, common shares of Republic that will be convertible into preferred C shares of Republic upon issuance of preferred C shares by Republic and subject to the approval of the Israeli Tax Authority. Since each of Mr. Datika and Triple V are Israeli residents for tax purposes, each of them will enter into amended and restated rollover agreements in a form similar to the form of rollover agreement that will be entered into by Mr. Benish. The Additional Rollover Shareholders will be excluded from the minority approval vote required under Canadian securities law. As of the record date, the Additional Rollover Shareholders beneficially own or exercise control or direction over, directly or indirectly, an aggregate of 49,248,761 Shares. As such, to the knowledge of the Corporation, after reasonable inquiry, of the 238,044,340 Shares issued and outstanding as of the record date, 100,811,068 Shares can be voted in respect of the minority approval vote. About the INX Group: INX provides regulated trading platforms for digital securities and cryptocurrencies. With a blend of traditional market expertise and a disruptive fintech approach, INX offers state-of-the-art solutions to modern financial challenges. The company is led by a dedicated team of business, finance, and technology veterans committed to redefining capital markets through blockchain technology and a disciplined regulatory approach. The INX Digital Company, Inc. is the holding company for the INX Group, which includes regulated trading platforms for digital securities and cryptocurrencies. The INX Group's vision is to be the preferred global regulated hub for digital assets on the blockchain. Our mission is to bring communities together and empower them with financial innovation. INX's journey began with the initial public token offering of the INX Token, in which it raised US$84 million. The INX Group is shaping the blockchain asset industry by working within a regulated environment under oversight from regulators like the SEC and FINRA. For more information, please visit the INX Group website here. About Republic: Headquartered in New York City, Republic is a global financial firm operating a network of retail-focused investment platforms and an enterprise digital advisory arm. With a deep track record of legal and technical innovation, Republic is known for providing access to new asset classes to investors of all types. Backed by Valor Equity Partners, Galaxy Interactive, HOF Capital, AngelList and other leading institutions, Republic boasts a global portfolio of over 2,000 companies and a community of nearly three million members in over 150 countries. More than $3 billion has been deployed through investment platforms, funds, and firms within the Republic family of companies with operations established in the US, the UK, EU, the UAE, and South Korea. For more information on Republic, visit All broker-dealer related securities activity is conducted by OpenDeal Broker LLC, an affiliate of OpenDeal Inc. and OpenDeal Portal LLC, and a registered broker-dealer, and member of FINRA | SiPC, located at 149 5th Avenue, 10th FL, New York, 10010 please check our background on FINRA's BrokerCheck and Form CRS here. *Any commission sharing agreements between INX and Republic are specifically between Republic's regulated entities - OpenDeal Portal LLC and OpenDeal Broker LLC. Cautionary Note Regarding Forward-Looking Information and Other Disclosures This press release contains statements that constitute "forward-looking information" (" forward-looking information") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates, and projections as of the date of this news release. Forward-looking information includes predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events, or performance and often uses phrases such as "expects", "anticipates", "plans", "believes", or variations of such words and phrases. Forward-looking information includes, but is not limited to, statements with respect to the Arrangement, including the execution of rollover agreements by the Additional Rollover Shareholders, the execution of an amended and restated rollover agreement by Mr. Datika and Triple V, the amount of consideration to be received by non-rollover shareholders under the Arrangement, and other statements that are not historical facts. INX has made certain assumptions in disclosing the forward-looking information contained in this press release, including the continued development of the INX trading platform, the ability to complete the Arrangement on the contemplated terms or at all, and that the conditions precedent to closing of the Arrangement can be satisfied. While INX believes the expectations reflected in such forward-looking information are reasonable, no assurance can be given that these expectations will prove correct. Known and unknown risks, uncertainties, and other factors may cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. Factors include the ability to complete the Arrangement on the contemplated terms or at all, that the conditions precedent to closing of the Arrangement can be satisfied, regulatory developments, market conditions for digital securities and cryptocurrencies, and general economic conditions. Readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, INX disclaims any intention and assumes no obligation to update or revise forward-looking information to reflect actual results or new information. Cboe Canada is not responsible for the adequacy or accuracy of this press release. This news release does not constitute an offer to sell or solicit an offer to buy any securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. SOURCE The INX Digital Company, Inc.
Cision Canada
5 days ago
- Business
- Cision Canada
SolarBank Advances Nova Scotia's Clean Energy Transformation with 2.4 MW Sydney Project in Canada
Part of Nova Scotia's Ambitious 80% Renewable Energy by 2030 Initiative Enables Renters and Homeowners to Access Solar Without Rooftop Installation $4.57 Million Investment in Local Clean Energy Infrastructure Second Community Solar Project by SolarBank in Atlantic Canada TORONTO, June 16, 2025 /CNW/ - SolarBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) ("SolarBank" or the "Company"), a North American energy infrastructure developer and asset owner, announces the continued execution of its community solar development pipeline with an update on its plans to develop a ground-mount solar power project known as the Sydney project (the "Project") totalling 2.4 MW DC located in Nova Scotia. This strategic project will generate approximately 2,730 MWh of clean energy annually—enough to power the equivalent of 221 homes for an entire year while eliminating approximately 1,900 tons of CO 2 emissions annually, equivalent to removing 415 cars from the road. The Project is owned by AI Renewable Flow-through Fund and SolarBank is the lead developer and builder for the Project. The Project has an estimated value of $4.57 million. SolarBank will partner with local Nova Scotia's trusted engineering firm, Trimac Engineering, to deliver the Project. SolarBank has been at the forefront of community solar development in the United States with over 50 MW of community solar projects completed and is proud to be deploying its expertise in Canada as the community solar market develops there. The Sydney project advances SolarBank's community solar portfolio with a $4.57 million project generating contracted revenues through multiple streams. As developer and EPC contractor for this 2.4 MW facility, SolarBank captures value while minimizing capital at risk through partnership with AI Renewable Flow-through Fund. With permits secured and interconnection underway, construction expected in Spring 2026 positions the Company to generate near-term EPC revenues while building long-term recurring income through O&M contracts. "This project underscores SolarBank's significant expertise and strategic vision in helping to drive Canada's renewable energy transformation," said Dr. Richard Lu, President and CEO of SolarBank. "With a proven track record of over a decade in community solar, commercial, and industrial projects, we're proud to provide solutions on Nova Scotia's ambitious renewable energy transition to deliver meaningful value for stakeholders and communities alike." The Sydney project alone will generate over $1.36 Million in electricity savings for local residents over its lifetime while creating local jobs and supporting the Province's net-zero goals This is SolarBank's second Community Solar project in Nova Scotia. The Canadian Federal government and the Province of Nova Scotia are very supportive of Community Solar, with a number of incentives, including the Smart Renewables and Electrification Pathways Program (SREPs), Indigenous-Led Clean Energy Stream, and the Low Carbon Communities program. Community solar is a cornerstone of Nova Scotia's bold commitment to achieve 80% renewable energy by 2030 and net-zero by 2035. As one of only four community solar contracts awarded under the program so far, the Sydney Project contributes to the 100 MW of planned solar additions that will help reduce fossil fuel reliance and drive local economic development. Unlike traditional rooftop systems, community solar allows renters, businesses, and homeowners to subscribe to the solar farm and receive bill credits and savings of $0.02/kWh —without installing any equipment. Project feeds directly into the local electricity grid and offers a flexible, accessible way for Nova Scotians to participate in the clean energy transition. The Project leverages SolarBank's proven execution capabilities and strategic partnerships. With over 100 MW of projects built and a 1+ GW development pipeline, SolarBank brings institutional-grade development expertise to Atlantic Canada. The Project's clear timeline ensures near-term EPC revenue generation, and positions SolarBank to obtain additional development contracts in the high-growth community solar market. Project Impact Summary: There are several risks associated with the development of the Project. The development of any project is subject to receipt of interconnection approval, receipt of a community solar contract, required permits, the continued availability of third-party financing arrangements for the Company and the risks associated with the construction of a solar power project. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in future projects no longer being economic. Please refer to "Forward-Looking Statements" for additional discussion of the assumptions and risk factors associated with the Projects and statements made in this press release. About SolarBank Corporation SolarBank Corporation is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the USA. The Company develops solar, Battery Energy Storage System (BESS) and EV Charging projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The Company maximizes returns via a diverse portfolio of projects across multiple leading North America markets including projects with utilities, host off-takers, community solar, and virtual net metering projects. The Company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built. To learn more about SolarBank, please visit This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. In particular and without limitation, this news release contains forward-looking statements pertaining to the Company's expectations regarding its industry trends and overall market growth; the Company's growth strategies the expected energy production from the solar power projects mentioned in this press release; the number of homes expected to be powered; the timeline for construction; the expected CO 2 reductions; the expected savings for local residents; expected revenues and benefits of the Project to the Company; the receipt of interconnection approval, permits and financing to be able to construct the Projects; the receipt of incentives for the Projects; and the size of the Company's development pipeline. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. In making the forward looking statements included in this news release, the Company has made various material assumptions, including but not limited to: obtaining the necessary regulatory approvals; that regulatory requirements will be maintained; general business and economic conditions; the Company's ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company's ability to attract and retain skilled staff; market competition; the products and services offered by the Company's competitors; that the Company's current good relationships with its service providers and other third parties will be maintained; and government subsidies and funding for renewable energy will continue as currently contemplated. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and the Company cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements. Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including those listed under "Forward-Looking Statements" and "Risk Factors" in the Company's most recently completed Annual Information Form, and other public filings of the Company, which include: the Company may be adversely affected by volatile solar power market and industry conditions; the execution of the Company's growth strategy depends upon the continued availability of third-party financing arrangements; the Company's future success depends partly on its ability to expand the pipeline of its energy business in several key markets; governments may revise, reduce or eliminate incentives and policy support schemes for solar and battery storage power; general global economic conditions may have an adverse impact on our operating performance and results of operations; the Company's project development and construction activities may not be successful; developing and operating solar projects exposes the Company to various risks; the Company faces a number of risks involving Power Purchase Agreements ("PPAs") and project-level financing arrangements; any changes to the laws, regulations and policies that the Company is subject to may present technical, regulatory and economic barriers to the purchase and use of solar power; the markets in which the Company competes are highly competitive and evolving quickly; an anti-circumvention investigation could adversely affect the Company by potentially raising the prices of key supplies for the construction of solar power projects; foreign exchange rate fluctuations; a change in the Company's effective tax rate can have a significant adverse impact on its business; seasonal variations in demand linked to construction cycles and weather conditions may influence the Company's results of operations; the Company may be unable to generate sufficient cash flows or have access to external financing; the Company may incur substantial additional indebtedness in the future; the Company is subject to risks from supply chain issues; risks related to inflation and tariffs; unexpected warranty expenses that may not be adequately covered by the Company's insurance policies; if the Company is unable to attract and retain key personnel, it may not be able to compete effectively in the renewable energy market; there are a limited number of purchasers of utility-scale quantities of electricity; compliance with environmental laws and regulations can be expensive; corporate responsibility may adversely impose additional costs; the future impact of any global pandemic on the Company is unknown at this time; the Company has limited insurance coverage; the Company will be reliant on information technology systems and may be subject to damaging cyberattacks; the Company may become subject to litigation; there is no guarantee on how the Company will use its available funds; the Company will continue to sell securities for cash to fund operations, capital expansion, mergers and acquisitions that will dilute the current shareholders; and future dilution as a result of financings. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
