Author: TSX Stocks

Until recently, the Canadian startup ecosystem quietly made its way on the global force with over 20 confirmed Canadian unicorns and more than thousand active startups in the tech space. As of 2025, Canada ranks 5th position in the Global Startup Ecosystem Index worldwide, with fintech, climate-tech, AI, and creator tools being the hottest sectors. Toronto, Vancouver, and Montreal are the primary hubs funding this growth.

Smaller than the U.S., Canada has its own unique advantage: things are comparatively cheap, there are great universities, and it offers access to the U.S. and international markets. Unlike in the U.S., Canadian unicorns usually scale globally from Day One and benefit from government support, R&D tax credits, as well as immigration-friendly policies that attract world-class talent.

In order to grow further, a lot of them decided to go public, which nets them capital at visibility expansion. This article focuses on Canadian unicorns that have stepped across public market shores, starting with Shopify and Nuvei, to name but a few.

Canadian Unicorns 

Unicorns are crucial factors in each national startup ecosystem, driving innovation, attracting investment, and inspiring young founders to dare dream and do. But what the term “unicorns” mean, they are privately held startups valued at over $1 billion. Canadian firms such as 1Password, Dapper Labs, SSENSE span across industries from blockchain to fashion e-commerce. Their success marks a big step forward in technology transformation in the future. 

1. Dapper Labs

Dapper Labs is a serious business of fun and games on the blockchain. Founded in 2018, the company pioneers in blockchain-based digital collectibles and NFTs (non-fungible tokens). It simply means that you have something like the rare card to prove your ownership. In this way, Dapper Labs creates block-chain-powered platforms and games focused on digital ownership, instead of physical possession. 

Its flagship products include CryptoKitties, NBA Top Shot, NFL ALL DAY, Disney Pinnacle. Whether it’s a cat, a sports moment, or a Disney pin of characters, Dapper Labs stores it and you can buy, sell, or trade them freely. 

The company doesn’t stop its journey by developing Flow blockchain, a fast, scalable, and developer-friendly blockchain designed for large-scale digital collectibles and apps. In 2025, Flow is experiencing an impressive growth in Q1, 2025. Dapper Labs is day-by-day solidifying its position in the field by expanding platforms, and strategic integrations. 

2. 1Password

Security is a must. And 1Password is making it simpler. It provides a secure platform to store and manage passwords, online identities, credit card info, secure notes and more confidential things.  The company supports all major platforms like Windows, macOS, Android, iOS, and browser extensions, making sure it reaches most of the customers. 

1Password ensures users’ online security by offering end-to-end encryption, so only users can get access to their data. It’s all dedicated to user-centric solutions. The company also offers strong password generation to create unique, hard-to-guess passwords. 

1Password stands out for its nonstop innovation. Products are continuously improved with Face ID support, and more useful integrations. Notably, in April 2025, it announced a next generation – Extended Access Management (XAM) which is powerful for organizations. You will have a 14-day trial before going for a subscription, but it’s worth paying for your security. 

3. Hopper 

If you’re struggling with your travel, from booking flights, seeking hotels, and much more. Hopper is one of the best companions that can help you with its technology. Its AI technology leverages data analytics and machine learning to help travelers save money and make smart booking decisions, whether it’s flight, hotel, car rental booking. 

Specifically, you will get the app, accessible to both iOS and Android, which can predict the best times to book flights and hotels. The app also provides price tracking, push notifications, and a color-coded calendar to show optimal booking times. With Hopper, we believe your travel is no longer stressful or hassle, it’s relaxed without time and energy saved. 

As reported in 2025, this online travel agency is targeting going public via an IPO and achieving a $10 billion valuation. This move will definitely help Hopper attract more significant investors and gain visibility in the field. 

4. SSENSE

SSENSE is a Canadian multi-brand luxury fashion and high-end streetwear retailer. Headquartered in Montreal, it now operates globally, delivering to 114 countries with websites in multiple languages. This comprehensive touch brings SSENSE closer to global customers.

It sells curated collections of luxury, streetwear, and avant-garde fashion from diverse brands like Versace, Valentino, Vans and many more. But it goes more than simply selling clothes, SSENSE combines e-commerce with an editorial platform featuring creative content on fashion, art,… to build brand identity. 

SSENSE also brings technology into its operation, using data analytics and machine learning to personalize shopping experiences and catch up with trends, rather than depending on traditional buyers.

5. PointClickCare

PointClickCare is a leading cloud-based healthcare software provider that revolutionize healthcare management and delivery for better outcomes and efficiency. Until now, it serves over 27.000 care providers, 3.600 ambulatory clinics, 2.800 hospitals and multiple government agencies. 

Its comprehensive SaaS platform specializes in electronic health records, care delivery management, financial management, compliance, and business intelligence. With these deep expertise, PointClickCare is confident to help your team automate administrative tasks, saving time to truly focus on patients. 

With strategic and notable partnerships during its operation, such as Pfizer, Carequality, Apploi, the platform has been improved on a daily basis, addressing more challenges and diversifying its portfolio.

6. Blockstream

Blockstream is a blockchain technology company that focuses on building Bitcoin-based financial infrastructure. It not only builds crypto-financial systems but also builds market efficiency with less reliance on trust. 

Its portfolio covers a wide range of products with different goals. For example, its AQUA Wallet helps users manage their bitcoin and liquid assets easily with buying and selling. Its Blockstream Satellite broadcasts the blockchain worldwide to provide access even in poor internet connectivity areas. 

Beyond its innovation in its expertise, Blockstream shares key strategic vision “The Future of Finance Runs on Bitcoin”, focusing on consumer, enterprise and institutional adoption. This vision directs and positions the company’s road to global presence. 

7. ApplyBoard 

Your education will definitely go easier with the help of ApplyBoard. With the mantra of “Your Future Goes Beyond Borders”, the platform connects international students with colleges, universities, and K-12 schools. By doing this, the application process is no longer stressful and heavy. 

 If you still wonder about which programs, its AI student-advising chatbot will help you to match with suitable programs based on academic background, preferences, and financial situation. Students are also allowed to apply to multiple programs and schools through a single application. 

ApplyBoard stands out for its claim of 95% of successful acceptance rates. And interestingly, every student can go for ApplyBoard for free, it’s a great opportunity to study abroad. In the future, ApplyBoard hopes to expand partnerships with more academic institutions at a global scale, thus, students can reach their dreams. 

8. Wealthsimple 

Wealthsimple is helping people of all ages and backgrounds achieve financial freedom. The company provides online investment management and financial services for everyday investors. Its products cover different aspects including Wealthsimple Invest, Wealthsimple Trade, Wealthsimple Save, and much more. 

Wealthsimple combines technology and human expertise to deliver simple, and affordable financial tools. It’s accessible for most of us, especially millennials and young investors, by offering low-cost services. 

It continuously expands products and services with AI integrations and innovative marketing, making things simpler and more human with emotional connection rather than technical jargon. 

9. Clearco 

Clearco, formerly Clearbanc, is a fintech company founded in 2015 in Toronto. It specializes in providing fast and flexible funding to online businesses, especially e-commerce, mobile app, and SaaS founders globally. The company is known for its quick process, using technology and data to make funding decisions often within only 24 to 48 hours. 

The process for businesses is not complicated at all. You only need to apply online with the platform, then wait for their assessment. Repayment is also very easy, which is adjusted automatically regarding your business performance. 

What makes Clearco differentiate itself from other competitors is its no equity dilution. Founders are allowed to keep full ownership and control of their companies, unlike traditional venture capital that requires you to give up shares. Clearco removes many barriers for founders who want to build businesses without too much stress. 

10. Trulioo

Trulioo is a Canadian technology company that specializes in global identity verification for both individuals and businesses. The company helps organizations verify the identities of over 5 billion people and 700 million business entities across the globe. 

Basically, the company provides a single, unified platform called GlobalGateway that connects to hundreds of data sources worldwide, including government records, credit bureaus, and social media. This vast amount of data allows businesses to verify customers anywhere. 

In June 2025, Trulioo is honored to be named in the 2025 Liminal “Link Index: Business and Entity Verification” (BEV) as a Leading Vendor. This recognizes its strong leadership position and as a motivation for innovation ahead.

11. Clio

Clio changes how legal personnel work by increasing efficiency, organization, and client orientation in law firms. It was among the first to introduce cloud-based solutions to the legal trade. Over 150,000 lawyers across more than 130 countries work with Clio today.

The platform offered by Clio allows law firms to use a single interface to administer everything that requires their attention-from intake to case management, billing, and document storage. Academically, it is integrated with more than 280 tools while internally it includes time tracking, trust accounting, and even auto-generated reminders. It is designed to take away administrative tasks from lawyers so that they can spend more time with their clients. 

Clio represents more than just software innovation for the future of legal practice. The Legal Trends Report shares knowledge with the industry, while the annual Clio Cloud Conference galvanizes the global legal tech community. Thanks to a flexible SaaS model, global presence, and affinity from Bar associations, Clio continues innovating legal practice.

12. Cohere 

Businesses use Cohere to wield powerful language AI to be efficient and work at swift speed. Its core mission revolves around the development of large language models for enterprise use, enhancing the usefulness of AI while keeping it secure and accessible.

Cohere’s platform supports various business tool options, ranging from AI assistants, smart search, multilingual chat, document analysis, etc. Cohere’s model families, such as Command and North, were built for flexibility. 

The company pushes forward for responsible AI with its nonprofit, Cohere For AI, working alongside partners such as Oracle and McKinsey. As practical solutions for AI are becoming more sought-after, Cohere is getting spotlighted for its strong tech combined with a thoughtful approach for business.

13. Ada 

Customer service and support can’t ask for simpler solutions with Ada. The company specializes in AI-powered customer service automation, especially conversational AI. It significantly helps enterprises to automate and improve customer support interactions across multiple channels and languages. 

This conversational AI platform is designed to support over 50 languages, whether you’re using chat, voice, or email. Companies are enabled to answer common questions 24/7, and resolve complex inquiries. But it doesn’t mean people are replaced, instead, the platform will escalate to human agents when needed. 

For better products, Ada uses a combination of proprietary AI models to power its agent, ensuring it feels human when interacting with customers. Thus, Ada is improving experiences for both customers and support teams. 

14. eSentire

eSentire has been on offer for remote 24/7 cybersecurity for organizations subject to the threats of today. It is currently becoming a Dedicated Managed Detection and Response platform, having secured over 2,000 companies in more than 80 countries. Its ambition is clear yet urgent: stop threats before they can disrupt business.

The organization is combining AI detection with expertized threat hunters and analysts for real-time response 24/7 features including MDR and XDR along with continuous threat exposure management and incident response services. eSentire slants well into the existing security stack, making it a forceful alternative for any business that lacks its own teams.

In March 2025, eSentire established a strategic partnership with Qylis – an innovator in data, AI and cybersecurity – to provide compliant cybersecurity solutions in India, thereby increasing its global influence and regulatory alignment. 

15. Xanadu

Xanadu, a quantum computing company based in Toronto and started in 2016, is building some of the world’s most complex photonic quantum computers – machines that use photons to process information. Its mission, both great and clear, is to put useful, fault-tolerant quantum computers in every user’s hands. 

The full-stack approach is what differentiates Xanadu; in other words, it builds everything from chips to the cloud platform on which users can run real quantum programs. Its open-source software library PennyLane is widely used by researchers in the quantum machine learning space. 

Pushing boundaries is what Xanadu does, but this company also helps to establish them. Some of the most forward technologies, open software, and international collaboration put Canada right at the forefront of unlocking the real potential of quantum computing.

16. Tenstorrent

Based in Toronto, Tenstorrent is a technology powerhouse building next-generation processors explicitly for AI and deep learning. It makes powerful chips to optimize computers for the training and running of more complex AI models in data centers or within smart devices. 

What differentiates Tenstorrent is its combination of custom chip design, specifically its Tensix cores, with open-source software and the RISC-V architecture that allows developers all over the world more control and performance than traditional alternatives. It’s the very principle of making AI more scalable, flexible, and accessible.

With significant capital funding and plans for a global push, Tenstorrent is in the business of selling its hardware and software and licensing its technology to third parties. It’s pushing the heaviest hitters in AI chips to bring smarter, faster tools for the industry to build the AI of tomorrow.

17. Freshbooks

FreshBooks offers a simple accounting solution that caters to small businesses, freelancers, and self-employed professionals. It helps users save time and get organized with tools for invoicing, expense tracking, time logs, payments, and project management.

The platform is most admired for its clean design, mobile-friendly experience, and accessibility to non-accountants. Among the automated features it offers are AI-powered invoicing and smart expense tracking. In 2020, the company acquired Mexican startup Facturama, to enter Latin America, marking an important milestone in the global expansion of FreshBooks.

Working on a subscription basis, FreshBooks reinvests in product improvements with an emphasis on customer feedback. Making what once was complex financial work into a pleasant experience allows small business owners to focus less on paperwork and more on running and growing their businesses.

18. Assent 

Located in Ottawa, Assent is helping global manufacturers build more ethical and sustainable supply chains. It was established in 2010 to support aerospace, electronics, and medical-device industries with multiple tools to manage risks such as forced labor, use of hazardous substances, and non-compliance with regulations.

Using its cloud platform, Assent enhances the supply chain data-gathering process, automates supplier engagement, and updates companies on ever-changing legislation like REACH, RoHS, and ESG standards. Assent takes its clients beyond basic compliance through advisory services and audits.

Assent makes complex compliance requirements easily grasped by cutting through legalese to create simple, actionable insights companies can use to preserve their brands and avoid crippling fines while becoming the world’s leaders in sustainability and responsible sourcing.

19. LayerZero Labs

LayerZero Labs is a Canadian tech company based in Vancouver that’s making it easier for different blockchains to work together. It was founded in 2021 and quickly gained attention for its innovative approach, reaching a $3 billion valuation in just a couple of years. With backing from big-name investors, it’s become one of Canada’s most talked-about players in the blockchain space.

At its core, LayerZero builds tools that help apps and services share data and digital assets across different blockchains. This means smoother experiences for people using crypto apps, things just work, no matter what network they’re on.

LayerZero is helping build a more open and connected internet for the future. It’s already supporting hundreds of networks and thousands of apps around the world. As more people look for simpler, safer ways to use blockchain technology, LayerZero is right there leading the charge from Canada.

20. The Sandbox

The Sandbox is a decentralized 3D metaverse where users are capable of creating, owning, and monetizing their virtual experiences. As a company under Animoca Brands, The Sandbox combines gaming, NFTs, and cryptocurrency, with its native SAND token powering all in-world transactions and governance.

In this world, players can purchase some virtual land (LAND) to build no-code games with the Game Maker and design digital assets with VoxEdit. The platform features an internal marketplace for trading NFTs, while some notable brands such as Snoop Dogg, Gucci, and Warner Music have entered the fold to give it a more mainstream vibe.

Backed by millions of users and over $90 million in funding, the Sandbox is one of the most famous Web3 gaming platforms. They empower creators, promote ownership, and change how we build, interact, and earn in virtual environments, bringing itself to the forefront of the emerging metaverse economy.

21. Neo Financial 

Being a Canadian fintech company based in Calgary, Neo Financial is reimagining the banking idea, nurturing and growing with the SkipTheDish founders from its birth in 2019. Today, it boasts over 750 employees and more than 1.3 million customers across Canada.

What sets Neo Financial apart is an unparalleled feeling of simplicity and modernity. Everything goes down digital-first: credit cards, savings accounts, investing – everything along with app-based management, no hidden fees, and some serious cashback rewards. 

Neo Financial brings the perfect combo of smart tech, lucrative rewards, and true customer care, and is now giving the big banks a run for their money. Backed with massive funding and a truly nationwide name, it rapidly became one of Canada’s top picks for everyday banking.

22. Nexii 

Nexii is a Canadian construction tech company taking on one of the world’s greatest challenges: sustainable building. Nexii very fast became a unicorn after rethinking the ways in which commercial buildings are designed and built. 

The buildings end up being assembled on-site five times faster, and with just a quarter of the usual emissions levels, thereby greatly reducing onsite waste. Having currently served big-name clients such as Starbucks and McDonald’s, Nexii hones in on energy efficiency, durability, and cost savings, helping its clients rip away from their sustainability targets without compromising on performance.

Nexii went through financial restructuring with a great refocus on efficiency and scale in 2024. Now from its Squamish operations, the company continues to build toward a greener construction future, supporting net zero through proven technology and renewed resolve.

Canadian Unicorns That Became Public Companies 

Canada has spawned several startups that passed the unicorn stage only to enter the stock market to procure firmer capital and create further advances. The companies are spread across e-commerce, fintech, publication, biotech, and edtech. Below are some of the most celebrated public Canadian unicorns, drawing most attention to Shopify and Nuvei.

1. Shopify 

Shopify, is one the world’s leading commerce platforms that enables retailers, entrepreneurs, and even global brands to build both online and offline stores. Each of key features are making the whole process easier, including building customizable content themes, secure payments, effective marketing, and more. 

The company went public in May 2015, listed on both New York Stock Exchange (NYSE) and the Toronto Stock Exchange (TSX). After going public, Shopify went through a significant growth of market cap, from ~$1.5 B in 2015 to >$200 B by 2021. This is thanks to the booming of e-commerce in the last few years. 

This giant player doesn’t want to stop there, it continuously integrates AI and machine learning to enhance the services. As of now, Shopify powers around 5 million stores worldwide for small entrepreneurs to global brands.

2. Lightspeed 

Lightspeed provides cloud-based POS (point of sale) and e-commerce software solutions for retail, hospitality, and golf industries. A unified commerce platform is used for managing sales, inventory, customer engagement, and payments, making it super effective to control everything just in one place. 

Helping small and medium sized businesses, with the aim to help these enterprises grow faster, Lightspeed combines cloud technology with AI-driven analytics to make the products more useful but still easy-to-use. 

Under the ticker LSPD, the company went public on the TSX in March 2019, this IPO marked Quebec’s first unicorn public listing. Then, in 2023, it was expanded to list on the NYSE in 2023. These moves for public listing provided capital for the company to strengthen financial position and pursue growth strategies. 

3. Kinaxis

As a provider of cloud-based supply chain management and sales and operations planning software, Kinaxis had evolved through several name changes before becoming the current one in 2005. 

Its flagship cloud platform for supply chain management is RapidResponse, with end-to-end visibility and real-time decision making. Supporting industries such as aerospace, automotive, consumer products, high-tech, and more, the company also provides AI-infused features which makes things easier to do.

The company decided to go public in 2014 under the ticker KSX. The 2014 IPO was a pivotal milestone, providing Kinaxis with capital to grow and increase market visibility and credibility.

4. D2L (Desire2Learn)

D2L makes every desire to learn more accessible for everyone. D2L is a global educational technology company, making software called Brightspace that helps teaching and learning online for all levels: schools, universities, and companies. 

Learning processes are powered by courses, tests, and materials, all on computers and mobile devices, making it very easy for students and those who are busy with tight schedules to be flexible. There are also smart tools with AI to personalize learning and grading, you will be taken care of dedicatedly. 

D2L went public on the Toronto Stock Exchange in November 2021 under the ticker DTOL. The IPO gave D2L money to improve their software faster and grow internationally. Since going public, D2L has added more AI features and bought companies to offer better tools.

5. Nuvei 

Nuvei, an international fintech company providing the technology that enables businesses to accept payments online, on-premises, and on the go is how Nuvei is described. Nuvei assists 50,000 merchants across nearly 200 markets and industries with various payment methods, currencies, and complementary platforms for fraud prevention.

Innovation and acquisitions of companies like SafeCharge and Smart2Pay have driven growth. Nuvei went public in 2020 on the TSX, raising IPO proceeds of $700 million, which set a record for the largest tech IPO ever in Canada up to that time. Nuvei proceeded to build presence worldwide, deepen technology investments, and enhance relationships with large clients.

Today, since rapid, secure, and flexible payment solutions are at the core of Nuvei services, they can position themselves as one of the biggest digital commerce partners worldwide-a testimony of how a Canadian parent company can in fact stand tall in the fast-paced global payments industry.

6. Thinkific

Thinkific is housed in Vancouver and helps people and businesses build and deliver courses over the Internet. Thinkific started as an easy way to share knowledge and has grown into a platform used by more than 35,000 creators, including solo entrepreneurs and global brands like Fiverr and Hootsuite.

Going public on the Toronto Stock Exchange was a pivotal moment for Thinkific, scaling it up like never before. Ever since the IPO, it has gone global with the rollout of AI-powered course creation tools and a rebrand sharp enough to match that growing influence. Today, Thinkific also helps businesses ramp revenues and engage customers through their educational offerings.

Thinkific essentially turns expertise into an opportunity. It makes online learning easy, accessible, and scalable, riding the wave with creators and learners worldwide. With the rising demand for digital education, Thinkific keeps evolving to stay ahead.

7. AbCellera

AbCellera is a Canadian organization that uses AI-based processes and high-level biology for the discovery of antibody-based medicines. The company gained worldwide recognition during the pandemic for the development of COVID-19 antibody treatments with Eli Lilly and has since carried out more than a hundred drug programs with other partners like Pfizer and Moderna.

After going public on the Nasdaq in December 2020 under the ticker ABCL, AbCellera invested in a drug pipeline of its own and opened a manufacturing facility that would sustain clinical development. The proceeds from the IPO continued to enable the company to expand the scope of its development programs and give greater focus to the longer-term programs addressing cancer, autoimmune diseases, and other conditions.

AbCellera today works at the intersection of AI-engineering-and-immunology for rapid drug discovery, making it one of the global biotech key players and charger for life sciences innovation in Canada.

Conclusion 

The Canadian tech scene is now a world innovation center, with unicorns in Canada making great strides in fintech, AI, biotech, and more. Several of these companies, such as Shopify, Nuvei, and AbCellera, have been converted from private startups into legitimate public companies that leveraged IPOs for further scaling, investing in R&D, and global expansion. Their stories offer a testimony of emerging Canadian startups becoming full-fledged businesses choosing to compete on the global stage.

This article keeps being refreshed to remain abreast of the latest happenings within Canada’s unicorn landscape, including future funding, IPO activity, and noteworthy exits. More Canadian unicorns will soon mature and take ship in the public markets.

VANCOUVER, British Columbia–(BUSINESS WIRE)–Jun 27, 2025–

Great Quest Gold Ltd. (“ Great Quest ” or the “ Company ”) (TSX-V: GQ) is pleased to announce that further to its news release dated May 14, 2025, it has entered into a definitive arrangement agreement dated June 26, 2025 (the “ Arrangement Agreement ”) with Lotus Gold Corporation (“ Lotus ”), pursuant to which Great Quest intends to acquire all of the issued and outstanding common shares of Lotus (the “ Lotus Shares ”) in exchange for newly issued common shares in the capital of Great Quest (“ GQ Shares ”) as an arm’s length transaction to be completed by way of a court-approved plan of arranged under the Business Corporations Act (British Columbia) (the “ BCBCA ”) (the “ Arrangement ”). Pursuant to the policies of the TSX Venture Exchange (the “ TSXV ”), the Arrangement will be considered a reverse takeover (the “ RTO ”) of the Company by Lotus, which will become a wholly-owned subsidiary of the resulting issuer (the “ Resulting Issuer ”) following completion of the Arrangement.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250626431996/en/

The Wadi Zeidun, Umm Samra, Siqdid, and Umm Salim mineral properties form the Eastern Desert Gold Project and are located at 600 km south-southeast of Cairo, Egypt.

Transaction Details

Pursuant to the Arrangement Agreement, the shareholders of Lotus will receive such number of common shares of the Resulting Issuer (the “ RI Shares ”) such that the former Lotus shareholders will own 63.3% of the issued and outstanding RI Shares and the number of RI Shares held by the former shareholders of Great Quest will equal 36.7%. The number of RI Shares issued as consideration shares to former holders of Lotus Shares will be determined following completion of the Bridge Financing (as defined below) and announced in a subsequent news release accordingly.

In accordance with the terms of the Arrangement Agreement, all outstanding warrants of Lotus will be exercisable to acquire RI Shares, in amounts and at exercise prices adjusted in accordance with the Arrangement Agreement. A subsequent news release will describe the valuation of Lotus.

Arrangement Agreement

The Arrangement will be subject to the following approvals:

• approval by the Supreme Court of British Columbia,
• requisite regulatory approval, including the approval of the TSXV; and
• the approval of the directors and the shareholders of each of Great Quest and Lotus.

Among other terms customary for a transaction of this nature, the Arrangement Agreement includes the following terms and conditions:

• A change of name of the Company to such name as is mutually agreed between Great Quest and Lotus and acceptable to the TSXV effective upon closing of the Arrangement (the “ Closing ”);
• a share consolidation of Great Quest on the basis of one post-consolidation GQ Share for every 30 pre-consolidation GQ Shares;
• completion of a bridge financing (the “ Bridge Financing ”) by Great Quest for gross aggregate proceeds of up to CAD$500,000, through the issuance of GQ Shares at a pre-Consolidation price of $0.025 per share, as further described in the Company’s news release dated June 16, 2025;
• directors and officers of Lotus and shareholders of Lotus holding 5% or more entering into support and voting agreements pursuant to which they have agreed to vote their Lotus Shares in favour of the Arrangement;
• each of Great Quest and Lotus will have a working capital deficit and long term debt (excluding non-cash liabilities) of no more than CAD$110,000 unless agreed otherwise by Lotus and Great Quest respectively in writing;
• Lotus will receive a title opinion regarding Great Quest’s Namibian mineral project; and
• Great Quest will receive a technical report in compliance with National Instrument 43-103 – Standards of Disclosure for Mineral Projects and a title opinion regarding Lotus’ Eastern Desert Gold Project in Eastern Egypt.

Trading in the GQ Shares has been halted since May 8, 2025 in accordance with the policies of the TSXV and will remain halted until such time as all required documentation in connection with the Arrangement has been filed with and accepted by, and permission to resume trading has been obtained from, the TSXV. There can be no assurance that trading of GQ Shares will resume prior to the completion of the Arrangement.

Shareholder Approvals

At a special meeting of the shareholders of Great Quest the (the “ GQ Meeting ”) to be held in accordance with the BCBCA, Great Quest will seek the approval of the RTO pursuant to the policies of the TSXV by an ordinary resolution passed by shareholders of Great Quest holding at least 51% of the issued and outstanding GQ Shares present in person or represented by proxy at the GQ Meeting.

At a special meeting of the shareholders of Lotus (the “ Lotus Meeting ”) to be held in accordance with the BCBCA, Lotus will seek the approval of the Arrangement by a special resolution passed by the shareholders of Lotus holding at least 66 2 / 3 % of the issued and outstanding Lotus Shares present in person or represented by proxy at the Lotus Meeting.

Lotus Advance

In connection with the Arrangement, Lotus will enter into a secured loan agreement with Great Quest for the loan amount of $300,000 (the “ Loan ”) bearing interest at 10% per annum, subject to conversion into GQ Shares at a pre-Consolidation price of $0.025 per share should the Arrangement not close by the November 30, 2025 deadline. Great Quest intends to use the funds from the Loan for its working capital requirements.

Bridge Financing

Further to Great Quest’s news release dated June 16, 2025, the Company intends to complete the Bridge Financing prior to the Closing. The Bridge Financing is subject to approval by the TSXV.

Resulting Issuer Board of Directors

Upon completion of the Arrangement, it is anticipated that the board of directors of the Resulting Issuer shall consist of the following persons:

Jed Richardson, Director

Jed Richardson brings a wealth of experience spanning a 25-year career in the mining and financial sectors. He has worked as a Research Associate at RBC Capital Markets and as a Research Analyst at Cormark/Sprott Securities, in addition to serving as a Mining Engineer for Alcan Aluminum. Jed has also served as Vice-President of Corporate Development for Verde Potash, Principal Consultant of Javelin Corporate Development Partners, and President and CEO of Trigon Metals. Joining Great Quest’s Board in 2010, he was appointed President & CEO in 2013, transitioning to the role of Executive Chairman in 2024. Jed holds a B.A.Sc. in Mineral and Geological Engineering from the University of Toronto.

Heye Daun, Director

Heye Daun is the co-founder and former President & CEO of Osino Resources. He is also the co-founder of the former Auryx Gold Corp. which advanced the Otjikoto gold project in Namibia until sale to B2Gold Corp for US$160m in 2011. As the former President & CEO of Ecuador Gold & Copper Corp. (“ EGX ”), Heye was instrumental in the formation of Lumina Gold Corp. through the C$200m merger of EGX with Odin Mining, before founding Osino Resources in 2015 with Alan Friedman. Heye is a mining engineer and MBA and has extensive experience in mining operations, working for Rio Tinto, AngloGold-Ashanti and Gold Fields, and stints in mining finance with South Africa’s Nedbank Capital and Old Mutual Investment Group. For the last 12 years Heye has been a successful public markets mining entrepreneur. Heye is a Director and also co-founder of Lotus.

Alan Friedman, Director

Alan Friedman is a South African-trained lawyer and public markets entrepreneur with significant success in a range of sectors such as mining, oil & gas, cannabis, e-gaming and others. As a result of being involved with North American public markets for over 20 years, his little black book is brimming with the Who-is-Who in Finance and Acquisitions and he has played an integral role in the financings and go-public transactions for many resource companies onto Toronto Stock Exchange and AIM. He is also a director of the Canada-Africa Chamber of Business. Alan is a Co-founder and Director of TSXV-listed Eco (Atlantic) Oil and Gas Ltd., and co-founder of Auryx Gold Corp and Osino Resources. Alan is a Director and also co-founder of Lotus.

Sponsorship

The Arrangement may require sponsorship under the policies of the TSXV unless a waiver from sponsorship is granted. Great Quest intends to apply for a waiver from sponsorship requirements of the TSXV in connection with the Arrangement. There can be no assurance that such waiver will ultimately be granted.

Eastern Gold Desert Project Descriptions

In two competitive international bid rounds, Lotus secured ten exploration sectors (blocks or licenses) across the Egyptian Eastern Desert. Subsequent renewal and relinquishment of blocks, as well as the addition of 5.5 blocks acquired from B2Gold brings the total land position to ±1,930 km 2 (roughly the equivalent of 11 blocks), as summarised below:

Exploration Agreement	Project Area	# of Exploration Sectors	Area (km 2 )
BR1 – Zeidun	Wadi Zeidun	±1.4 (after renewal)	253
BR1 – Umm Samra	Umm Samra	±1.3 (after renewal)	230
BR2 — Siqdid	Siqdid	3	483
(BR-1) Umm Salim	Umm Salim	5.5	963
Total		± 11	±1,930

Qualified Person (QP) Statements

Qualified Person David Underwood, BSc. (Hons) is Vice President Exploration of Lotus Gold Corporation and has reviewed and approved the scientific and technical information in this news release as it pertains to Lotus, and is a registered Professional Natural Scientist with the South African Council for Natural Scientific Professions (Pr. Sci. Nat. No.400323/11) and a Qualified Person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (” NI 43-101 “).

On behalf of the board of directors of Great Quest Gold Ltd.:

“Jed Richardson”

Chief Executive Officer and Executive Chairman

Further Information and Disclaimer

All information contained in this news release with respect to Great Quest and Lotus was supplied by the parties respectively, for inclusion herein, and each party and its directors and officers have relied on the other party for any information concerning the other party.

Completion of the Arrangement is subject to a number of conditions, including but not limited to, TSXV acceptance and, if applicable, pursuant to the requirements of the TSXV, disinterested shareholder approval. Where applicable, the Arrangement cannot close until any required shareholder approvals are obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Arrangement, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the Arrangement and has neither approved nor disapproved the contents of this press release.

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.

Cautionary Statements Regarding Forward Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the proposal to complete the Arrangement and associated transactions. Any such forward-looking statements may be identified by words such as “expects”, “anticipates”, “believes”, “projects”, “plans” and similar expressions. Readers are cautioned not to place undue reliance on forward-looking statements. Statements about, among other things, the completion and expected terms of the Arrangement, the Loan, the number of securities of the Company that may be issued in connection with the Arrangement and Bridge Financing, obtaining the requisite shareholder approval, Lotus’ strategic plans and the parties’ ability to satisfy closing conditions and receive necessary approvals, are all forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the Arrangement (including the name change and consolidation), the Loan, or the Financings will occur or that, if the Arrangement, and the Financings do occur, they will be completed on the terms described above. Great Quest and Lotus assume no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by applicable law.

View source version on businesswire.com:https://www.businesswire.com/news/home/20250626431996/en/

CONTACT: For more information, please contact:Great Quest Gold Ltd.

Jed Richardson, Executive Chairman

Email:IR@greatquest.com

(647)276-6002Lotus Gold Corporation

Mike Silver, Interim CEO

Email:msilver@lotusgold.ca

KEYWORD: NORTH AMERICA CANADA

INDUSTRY KEYWORD: MINING/MINERALS NATURAL RESOURCES

SOURCE: Great Quest Gold Ltd.

Copyright Business Wire 2025.

PUB: 06/27/2025 07:30 AM/DISC: 06/27/2025 07:30 AM

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Scotiabank Bahamas recently brought together a distinguished network of real estate professionals, attorneys and industry partners for an exclusive Mortgage Seminar & Cocktail Event designed to share insights, deepen collaboration and celebrate the achievements of top performers in the Bank’s Mortgage Referral Programme.

The Mortgage event featured expert-led discussions that explored key elements of the homeownership journey, including Scotiabank’s industry-leading mortgage offerings, innovative financing solutions, and its commitment to service excellence. Note worthy were the contributions real estate professionals, attorneys and industry partners make to the bank’s referral program.

The program has not only helped thousands realize their homeownership goals, with up to 95% financing available, but has also proven to be a valuable tool for industry partners to earn. Some realtors and brokers have referred up to $50 million in mortgage loans through the program, a testament to its success and the strong relationships the Bank maintains with its professional network.

During the evening, awards were presented to top-performing agents and brokers who consistently referred clients to Scotiabank and demonstrated unwavering support of the Bank’s mission to deliver quality financial solutions.

“We are proud to recognize and celebrate the professionals who play such a vital role in helping people achieve the dream of homeownership,” said Na-amah Barker, Director of Retail Banking and Small Business, Scotiabank Bahamas. “Their trust in Scotiabank, paired with their commitment to their clients, is what makes our Mortgage Referral Programme so impactful.”

Scotiabank continues to be the preferred bank for mortgages in The Bahamas, thanks to its competitive rates, flexible financing options, and a deeply knowledgeable team of mortgage specialists who provide personalized guidance every step of the way. Working in tandem with a trusted community of real estate agents, brokers, and legal advisors, the Bank ensures that clients experience a smooth and informed mortgage journey from pre-approval to closing.

“Our network of referral partners is more than just a channel, it’s a community,” added Barker. “By working together, we’re creating a stronger, more supportive real estate ecosystem that’s centered on helping Bahamians build generational wealth through property ownership.”

Monica Knowles, Broker at Realty One Group Bahamas, praised the initiative and emphasized its significance for the wider market. Scotiabank continues to be the institution of choice for funding when acquiring a home.

About Scotiabank

Scotiabank’s vision is to be our clients’ most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: “for every future,” we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at April 30, 2025), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on X @Scotiabank.

Scotiabank Bahamas recently brought together a distinguished network of real estate professionals, attorneys and industry partners for an exclusive Mortgage Seminar & Cocktail Event designed to share insights, deepen collaboration and celebrate the achievements of top performers in the Bank’s Mortgage Referral Programme.

The Mortgage event featured expert-led discussions that explored key elements of the homeownership journey, including Scotiabank’s industry-leading mortgage offerings, innovative financing solutions, and its commitment to service excellence. Note worthy were the contributions real estate professionals, attorneys and industry partners make to the bank’s referral program.

The program has not only helped thousands realize their homeownership goals, with up to 95% financing available, but has also proven to be a valuable tool for industry partners to earn. Some realtors and brokers have referred up to $50 million in mortgage loans through the program, a testament to its success and the strong relationships the Bank maintains with its professional network.

During the evening, awards were presented to top-performing agents and brokers who consistently referred clients to Scotiabank and demonstrated unwavering support of the Bank’s mission to deliver quality financial solutions.

“We are proud to recognize and celebrate the professionals who play such a vital role in helping people achieve the dream of homeownership,” said Na-amah Barker, Director of Retail Banking and Small Business, Scotiabank Bahamas. “Their trust in Scotiabank, paired with their commitment to their clients, is what makes our Mortgage Referral Programme so impactful.”

Scotiabank continues to be the preferred bank for mortgages in The Bahamas, thanks to its competitive rates, flexible financing options, and a deeply knowledgeable team of mortgage specialists who provide personalized guidance every step of the way. Working in tandem with a trusted community of real estate agents, brokers, and legal advisors, the Bank ensures that clients experience a smooth and informed mortgage journey from pre-approval to closing.

“Our network of referral partners is more than just a channel, it’s a community,” added Barker. “By working together, we’re creating a stronger, more supportive real estate ecosystem that’s centered on helping Bahamians build generational wealth through property ownership.”

Monica Knowles, Broker at Realty One Group Bahamas, praised the initiative and emphasized its significance for the wider market. Scotiabank continues to be the institution of choice for funding when acquiring a home.

About Scotiabank

Scotiabank’s vision is to be our clients’ most trusted financial partner and deliver sustainable, profitable growth. Guided by our purpose: “for every future,” we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at April 30, 2025), Scotiabank is one of the largest banks in North America by assets, and trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on X @Scotiabank.

US Bank Unveils ‘Deposit Token’; Exchange Launches Multiple Crypto Products

By Robert A. Musiala Jr.

According to recent reports, the largest bank in the U.S. has unveiled plans to pilot a so-called “deposit token,” JPMD, on the Ethereum layer-2 Base network. The JPMD token will reportedly be available initially only to approved institutional clients on one of the largest U.S. cryptocurrency exchanges. According to a white paper published by the bank’s blockchain unit, a “deposit token” such as JPMD is “commercial bank money,” or “[a] transferable token[s] issued on a blockchain by a licensed depository institution which evidence[s] a deposit claim against the issuer.”

The same U.S. cryptocurrency exchange that is reportedly being used for the JPMD token announced several new products recently. In a company blog post, the exchange announced a partnership with a major e-commerce platform that will allow retail consumers to pay e-commerce merchants using the USDC stablecoin.

In another blog post, the exchange announced the launch of its Crypto-as-a-Service (CaaS) offering. According to the blog post, among other things, the CaaS offering will help banks offer secure, regulated and scalable digital asset products for retail, wealth and institutional clients; provide crypto infrastructure that expands reach and capabilities for brokers and exchanges; and help payments firms enable USDC payments, 24/7 settlement solutions, treasury management, and fiat to crypto on and off ramps.

Finally, the same crypto exchange announced that it will launch its first credit card, the One Card, on the network of a major U.S. credit card issuer. According to a press release, the One Card will offer up to 4 percent bitcoin back on every purchase.

For more information, please refer to the following links:

Digital Asset Companies Announce Product Launches, Acquisitions

By Jonathan Cardenas

A major multinational fintech company recently announced the expansion of its partnership with a leading e-commerce platform. According to a press release, the expanded partnership will enable the platform’s merchant customers to accept payments in the USDC stablecoin. Through the partnership, the platform’s merchants will be able to receive stablecoin payments from their customers and will be able to either deposit the payments into a traditional bank account in local fiat currency or transfer the funds as USDC into an external crypto wallet.

According to recent reports, BUIDL, the tokenized money market fund of a major global asset manager, will soon become accepted as collateral on two major digital asset exchanges. The BUIDL token was initially launched on the Ethereum blockchain network in March 2024 in partnership with Securitize. According to reports, crypto traders who execute trades on the two exchanges will now be able to “post a yield-bearing, blockchain-native version of U.S. Treasurys to back trades.”

In a final development, a major stablecoin issuer recently announced that it has acquired a 32 percent equity stake in a Toronto stock exchange-listed gold mining company. According to reports, the acquisition is designed to enable the stablecoin issuer to integrate gold and other assets, such as bitcoin, into its ecosystem.

For more information, please refer to the following links:

GENIUS Act Stablecoin Legislation Passes US Senate

By Keith R. Murphy

On June 17, the U.S. Senate passed the bipartisan Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act with 68 votes, 18 of which came from Democrats.The GENIUS Act reportedly establishes a first-of-its-kind federal regulatory framework for dollar-pegged stablecoins, with goals including protecting consumers and strengthening national security. It also is reported to set guardrails for the industry, with protections including requirements for stablecoin issuers to maintain full-reserve backing, anti-money-laundering compliance, and monthly audits. An expected benefit of the GENIUS Act is that it will open the door to a wide range of stablecoin issuers, from banks and fintechs to major retailers that may be looking to launch stablecoins or to integrate them into existing payment systems, as noted in reports. According to a press release, Sen. Tim Scott, chairman of the Senate Banking Committee, noted that the GENIUS Act came about as the result of months of bipartisan, good-faith negotiations, which benefited from consultation with industry participants, legal and academic experts, and government stakeholders. The proposed legislation has been sent to the U.S. House of Representatives, which has been working on its own draft stablecoin bill.

For more information, please refer to the following links:

Blockchain Traceability Infrastructure Launches, Use Case Handbook Published

By Robert A. Musiala Jr.

A foundation dedicated to development of the Cardano network ecosystem recently announced the launch of Originate, “an open-source traceability infrastructure designed to verify product authenticity and support industry certifications.” According to a blog post, Originate is built for diverse industries and applications and “provides a scalable, cost-effective, and customizable foundation for verifying authenticity, enhancing trust, and expanding into new markets.”

In other news, the Global Blockchain Business Council recently released the 2025 edition of its 101 Real-World Blockchain Use Cases Handbook. The 302-page document discusses blockchain use cases in the areas of agriculture, commodities and energy; AI; entertainment and sports; finance; government; healthcare; infrastructure, custody and wallets; NFTs; standards; and supply chains.

For more information, please refer to the following links:

DOJ and NY State Actions Target Crypto Fraud Schemes, Iran Exchange Hacked

By Robert A. Musiala Jr.

The U.S. Department of Justice (DOJ) recently announced that it has filed a civil forfeiture complaint against more than $225.3 million in cryptocurrency. According to a DOJ press release, “The complaint alleges that the cryptocurrency addresses that held the over $225.3 million in cryptocurrency were part of a sophisticated blockchain-based money laundering network that executed hundreds of thousands of transactions and was used to conceal the nature, source, control, and ownership of proceeds derived from cryptocurrency investment fraud.” The DOJ press release acknowledged the assistance of a major stablecoin issuer in the investigation. The stablecoin issuer published its own statement, in which it indicated that the funds at issue in the DOJ forfeiture complaint were linked to an extensive “pig butchering” fraud operation that targeted individuals across multiple jurisdictions.

In a separate development, the State of New York Department of Financial Services announced that “a multi-agency long-term investigation resulted in the disruption of a fraudulent cryptocurrency investment scam that targeted members of the Russian community in Brooklyn and across the country.” According to a press release, as part of the action, “Court orders have led to the seizure of $140,000 worth of cryptocurrency, the freezing of approximately $300,000 worth of cryptocurrency, and the dismantling of a cluster of scam websites and registrar accounts.”

In a final notable item, according to reports, Iranian crypto exchange Nobitex was recently hacked for over $81 million in digital assets. According to reports, a pro-Israel hacker group has claimed responsibility for the hack.

For more information, please refer to the following links:

[View source.]

KELOWNA, BC / ACCESS Newswire / June 23, 2025 / Avant Brands Inc. (TSX:AVNT)(OTCQX:AVTBF)(FRA:1BU0) (“Avant” or the “Company”), a leading producer of innovative and award-winning cannabis products, is pleased to announce several significant developments that underscore the Company’s accelerating global growth strategy and strengthening market leadership across Canada.

Strategic International Supply Agreements Signed

Avant has entered into two multi-year international supply agreements serving the European medical cannabis market. Under the terms of the agreements, Avant will export up to 2,000 kilograms per year of GACP-certified, non-irradiated dried flower across several proprietary cultivars cultivated at its flagship Flowr and 3PL facilities.

These agreements further position Avant as a preferred supplier of high-grade flower into regulated international markets. These agreements were executed following rigorous quality assurance reviews and leverage Avant’s certifications under ICANN-GAP and GACP standards.

“These supply agreements are an important validation of Avant’s global credibility and our reputation for consistent quality,” said Norton Singhavon, Founder and CEO of Avant Brands. “They not only unlock substantial recurring revenue but also solidify our footprint across key international jurisdictions.”

Focused Product Expansion in Canada’s Largest Cannabis Market

Avant has reached a significant commercial milestone by securing over 30 new SKU listings for 2025 across Ontario and B.C. – two of Canada’s most competitive cannabis markets. This expansion spans the Company’s flagship brands, BLK MKT™ and Tenzo™, and represents one of the most focused and impactful portfolio deployments in Avant’s history.

Unlike broad-based listing pushes, these new SKUs were strategically submitted based on detailed whitespace analysis, category-level performance data, and evolving consumer demand signals. The result is a portfolio expansion that not only strengthens Avant’s retail presence but also positions the Company for growth in key high-potential segments (in both mid-tier and premium) – ranging from top-shelf dried flower, single & multi-pack whole flower pre-rolls and infused offerings, to innovative new formats tailored to shifting market dynamics.

“Canada is a strategic battleground, and this expansion confirms that our brands are resonating with both budtenders and consumers alike,” said Singhavon. “It’s a testament to our team’s ability to execute with precision – leveraging market intelligence, designing thoughtful products, and delivering with operational excellence.”

Product Innovation and Medical Relaunch

First-to-Market Innovations: Avant is among the first Canadian LPs to launch transparent packaging and premium 1.5g pre-rolls, leveraging recent regulatory amendments by Health Canada. These innovations reinforce Avant’s reputation as a category leader in design, quality, and consumer experience.

Avant Medical Relaunch: The Company’s medical division is being rebranded and relaunched as Avant Medical, with a renewed focus on serving Canadian patients and veterans. The new platform will offer enhanced access to premium cultivars at significantly more competitive pricing and will feature a refreshed product catalog exclusive to the medical channel.

Director Resignation

Avant also announces that Ms. Sylvia Lee has made the decision to resign from the Company’s Board of Directors. Ms. Lee has diligently served on the Board for more than four years and has been instrumental contributing her immense experience to Avant through key phases of growth and strategic transformation.

The Company would like to sincerely thank Ms. Lee for her dedication, guidance, and contributions to Avant, and wishes her continued success in all future endeavors.

Positioned for Sustained Growth

Taken together, these developments mark a pivotal moment in Avant’s growth trajectory. The Company is executing a disciplined and scalable strategy-focused on quality, brand equity, and global market access-that continues to translate into material commercial outcomes.

“As we continue to expand both internationally and domestically, our focus remains clear: to be the dominant player in the premium cannabis segment,” said Singhavon. “Our foundation is stronger than ever-and we are just getting started.”

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

About Avant Brands Inc.

Avant is an innovative, market-leading premium cannabis company. Avant has multiple operational production facilities across Canada, which produce high-quality, handcrafted cannabis products based on unique and exceptional cultivars.

Avant offers a comprehensive product portfolio catering to recreational, medical, and export markets. Our renowned consumer brands, including BLK MKT™, Tenzo™, Cognōscente™, flowr™ and Treehugger™, are available in key recreational markets across Canada. Avant’s products are distributed globally to Australia, Israel and Germany, with its flagship brand BLK MKT™ currently being sold in Israel. Additionally, Avant’s medical cannabis brand, GreenTec™, serves qualified patients nationwide through its GreenTec Medical portal and trusted medical cannabis partners.

Avant is a publicly traded corporation listed on the Toronto Stock Exchange (TSX: AVNT) and accessible to international investors through the OTCQX Best Market (OTCQX: AVTBF) and Frankfurt Stock Exchange (FRA: 1BU0). Headquartered in Kelowna, British Columbia, Avant operates in strategic locations including British Columbia, Alberta, and Ontario.

For more information about Avant, including access to investor presentations and details about its consumer brands, please visit www.avantbrands.ca.

For further inquiries, please contact:

Investor Relations at Avant Brands Inc.

1-800-351-6358

ir@avantbrands.ca

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This press release contains “forward-looking statements” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In particular, forward-looking statements in this release include, but are not limited to, statements regarding: the anticipated benefits and commercial impact of Avant’s international supply agreements; the expected annual export volumes of dried cannabis flower; the exclusivity arrangements and their potential to enhance brand presence in international markets; the projected growth in Ontario retail distribution; the expected performance of newly listed SKUs; the impact of product innovations including transparent packaging and premium 1.5g pre-rolls; the anticipated benefits of the Avant Medical rebrand and relaunch; and Avant’s overall ability to execute on its global growth strategy and strengthen its competitive positioning in both domestic and international markets.

Forward-looking statements are often, but not always, identified by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “may,” “will,” “potential,” “could,” “should,” “continue,” or similar expressions suggesting future outcomes or events. These statements are based on the current expectations, estimates, projections, beliefs, and assumptions of management and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control.

Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those expressed or implied in such statements. These risks include, but are not limited to: the ability of Avant to successfully fulfill the terms and volumes under international supply agreements; demand and pricing fluctuations in export markets; regulatory changes in Canada or in international jurisdictions that could impact cannabis exports or product approvals; the successful execution of new product launches; consumer acceptance and sell-through of new SKUs in Ontario and other provinces; the effectiveness and market reception of the Avant Medical relaunch; the reliability and scalability of Avant’s supply chain; competitive dynamics in the domestic and global cannabis industry; and other risks as detailed in the Company’s public filings on SEDAR+ at www.sedarplus.ca.

Readers are cautioned not to place undue reliance on forward-looking statements. Avant undertakes no obligation to update any forward-looking statements contained herein, except as required by applicable law. All forward-looking statements in this release are expressly qualified in their entirety by this cautionary statement.

SOURCE: Avant Brands Inc.

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The goal of rational investors is to maximize total return.

Total return is the complete return of an investment over a given time period. It includes all capital gains and any dividends or interest paid.

The 3 aspects of total return for stocks are:

• Dividends
• Change in earnings-per-share
• Change in the price-to-earnings multiple

We calculate expected total returns using the 3 aspects of total return for more than 600 securities in The Sure Analysis Research Database.

While we currently rate many of the stocks we cover as buys, due to expected annual returns above 10%, many are rated as holds due to mediocre returns.

Additionally, there are also plenty of stocks we currently rate as sells.

Typically, low (or negative) projected total return is due to overvaluation. Put simply, many of the stocks we rate as sells are overvalued, due to their high current valuations.

Buying overvalued stocks can result in low, or negative, future returns, even with a high dividend yield.

With that in mind, this article will cover 10 high dividend stocks we currently rate as sells according to their low projected total returns.

The list is sorted by annual expected returns over the next five years, from lowest to highest.

High Dividend Stock To Sell #10: H&R Real Estate Investment Trust (HRUFF)

• Annual Expected Return: -2.1%

H&R Real Estate Investment Trust holds a portfolio of 374 properties across Canada and the United States. The portfolio includes 26 residential properties with a total of 8,929 rental units, mainly focused on expanding its presence in the U.S. Sun Belt.

Moreover, the REIT owns 64 industrial properties in Canada and one in the U.S., totaling 8.2 million square feet of space. Additionally, H&R holds 16 office properties across North America, comprising 4.5 million square feet, and 34 retail properties in Canada along with 233 retail properties in the U.S., totaling 5.2 million square feet.

The company’s strategy these days focuses on residential and industrial assets, while reducing its exposure to office and retail sectors.

The REIT pays dividends monthly and reports its financials in CAD. All figures in this report have been converted to USD unless otherwise noted.

On May 14th, 2025, H&R Real Estate Investment Trust reported its Q1 results. The REIT posted total rental revenue of $148.1 million for the quarter, a decrease from $150.9 million in Q1 2024.

This drop reflects the impact of property dispositions and shifting portfolio composition. H&R’s Funds from Operations was $59.8 million, essentially flat compared to $59.8 million in Q1 2024.

Click here to download our most recent Sure Analysis report on HRUFF (preview of page 1 of 3 shown below):

High Dividend Stock To Sell #9: Sabine Royalty Trust (SBR)

• Annual Expected Return: -0.5%

Sabine Royalty Trust is an oil and gas trust set up in 1983 by Sabine Corporation. At initiation, the trust initially had an expected reserve life of 9 to 10 years but it has surpassed expectations by an impressive margin.

The trust consists of royalty and mineral interests in producing properties and proved oil and gas properties in Florida, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas. It is roughly 2/3 oil and 1/3 gas in terms of revenues.

The trust’s assets are static in that no further properties can be added. The trust has no operations but is merely a pass-through vehicle for royalties. SBR had royalty income of $82.6 million in 2024.

In early May, SBR reported (5/9/25) financial results for the first quarter of fiscal 2025. Production of oil grew 22% but production of gas dipped -1% over the prior year’s quarter. In addition, the average realized prices of oil and gas decreased -26% and -7%, respectively. As a result, distributable cash flow per unit declined -6%, from $1.27 to $1.19.

The outlook for this year is negative, as OPEC has begun to unwind its production cuts and intends to boost its output by 2.0 million barrels per day until the end of 2026.

Click here to download our most recent Sure Analysis report on SBR (preview of page 1 of 3 shown below):

High Dividend Stock To Sell #8: The Keg Royalties Income Fund (KRIUF)

• Annual Expected Return: 1.2%

The Keg Royalties Income Fund is a publicly traded income trust that earns revenue via a 4% royalty on the gross sales of Keg Steakhouse & Bar restaurants included in its Royalty Pool, rather than operating restaurants itself.

As of the end of March, the Fund’s Royalty Pool comprised 104 Keg locations across Canada and the U.S. Last year, the Fund generated $719.5 million in sales.

The Keg holds a strong market position in the full-service dining category, committed to upholding high standards of food quality and guest experience.

It reports financials in CAD, but we have converted all numbers in this report in USD unless otherwise noted. Shares trade on the Toronto Stock Exchange and OTC.

On May 7th, 2025, The Keg Royalties Income Fund reported its Q1 results for the three months ended March 31st, 2025. For the period, the 104 Keg restaurants in the Royalty Pool generated approximately $139.5 million in sales, reflecting a 6.9% increase from the comparable quarter of the prior year.

This rise was primarily driven by strong same-store sales growth of 9.2%, despite the closure of one restaurant.

Click here to download our most recent Sure Analysis report on KRIUF (preview of page 1 of 3 shown below):

High Dividend Stock To Sell #7: Peyto Exploration & Development (PEYUF)

• Annual Expected Return: 2.4%

Peyto Exploration & Development is a Canadian natural gas producer focused on the exploration and development of liquids-rich gas plays in Alberta’s Deep Basin.

The company is one of the lowest-cost natural gas producers in Canada and operates a vertically integrated model, handling drilling, completions, processing, and marketing in-house.

Peyto’s production is about 88% natural gas and 12% natural gas liquids, with a core emphasis on maximizing return on capital and maintaining low per-unit costs.

As of year-end 2024, Peyto held over 8.2 trillion cubic feet equivalent in proved plus probable reserves. It also maintains long-term marketing and hedging contracts to smooth cash flows and enhance price realizations across multiple North American hubs.

The company reports in financials in CAD. All figures in this report have been converted to USD unless otherwise noted.

On May 13th, 2025, Peyto posted its first-quarter results for the period ending March 31st, 2025. Revenue from natural gas and NGL sales including realized hedging gains rose by 7% to $255.1 million, driven by a 7% increase in production volumes, which offset flat pricing. The growth was largely due to strong well results from the Company’s capital program.

Click here to download our most recent Sure Analysis report on PEYUF (preview of page 1 of 3 shown below):

High Dividend Stock To Sell #6: Timbercreek Financial Corp. (TBCRF)

• Annual Expected Return: 3.1%

Timbercreek Financial is a Canadian non-bank lender specializing in shorter-duration, structured financing solutions for commercial real estate investors.

The company provides primarily first-mortgage loans for income-producing properties, including multi-residential, retail, industrial, and office assets.

Its loans are typically used for acquisition, redevelopment, or transitional financing, and are often repaid through term financing or asset sales.

Timbercreek’s portfolio is 100% commercial real estate-focused and highly urban, with about 92% of capital invested in Ontario, British Columbia, Quebec, and Alberta. Its lending model emphasizes conservative loan-to-value ratios (63.3% as of year-end 2024) and floating-rate loans with rate floors, providing downside protection and interest rate sensitivity.

All figures in this report have been converted in USD unless otherwise noted.

On May 5th, 2025, Timbercreek Financial reported its Q1 results for the period ending March 31st, 2025. Distributable income for the quarter was $11.1 million, or $0.14 per share, compared to USD $11.4 million, or $0.14 per share, in Q1 2024.

This reflected a slightly lower average portfolio yield and a modest increase in expected credit loss, offset by higher average portfolio balances.

Click here to download our most recent Sure Analysis report on TBCRF (preview of page 1 of 3 shown below):

High Dividend Stock To Sell #5: NorthWest Healthcare Properties (NWHUF)

• Annual Expected Return: 3.7%

Northwest Healthcare Properties is a globally diversified healthcare real estate investor and asset manager. Its footprint spans 172 income-producing properties across Canada, the U.S., Brazil, Europe, and Australasia.

The portfolio totals over 16 million square feet of gross leasable area, anchored by long-term, inflation-linked leases to high-quality healthcare operators.

The REIT also has a sizeable asset management business, overseeing $8.8 billion in AUM, of which $1.8 billion is owned directly and $4.0 billion managed through joint ventures. The REIT pays distributions on a monthly basis and reports its financials in CAD. All figures in this report have been converted to USD unless otherwise noted.

On May 14th, 2025, Northwest Healthcare REIT posted its Q1 results for the period ending March 31st, 2025. Revenue came in at $80 million, down 18% year-over-year due to significant asset sales.

Net operating income came in at $55.5 million, with occupancy holding at 96.4% and a 13.6-year WALE, supported by inflation-linked leases covering over 96% of rent.

Q1 FFO was $0.05 per unit, down from $0.08 last year, reflecting the smaller portfolio and ongoing deleveraging. During the quarter, the REIT sold $33.8 million of assets and used proceeds to repay over $478 million of debt, lowering its average interest rate to 5.33%.

Click here to download our most recent Sure Analysis report on NWHUF (preview of page 1 of 3 shown below):

High Dividend Stock To Sell #4: USA Compression Partners LP (USAC)

• Annual Expected Return: 4.0%

USA Compression Partners, LP is one of the largest independent providers of gas compression services to the oil and gas industry, with annual revenues of $950 million in 2024.

The partnership is active in several shale plays throughout the U.S., including the Utica, Marcellus, and Permian Basin. It focuses primarily on infrastructure applications, including centralized high-volume natural gas gathering systems and processing facilities, requiring large horsepower compression units.

It designs, operates, and maintains the compression units. USAC operate under fixed-fee, take-or-pay contracts, and does not have direct exposure to commodity prices.

USAC reported first quarter 2025 results on May 6th, 2025. Revenues for the quarter rose to $245 million compared to $229 million in Q1 2024. Distributable cash flow increased from $87 million to $89 million in Q1. The distribution was held steady at $0.525 per unit, in line with last year.

Distributable cash flow coverage was 1.44X for the quarter, compared to 1.41X last year. Revenue generating horsepower was up year-over-year to 3.56 million. Management reiterated its 2025 outlook for DCF and forecasts $350 million to $370 million.

Click here to download our most recent Sure Analysis report on USAC (preview of page 1 of 3 shown below):

High Dividend Stock To Sell #3: Pizza Pizza Royalty Corp. (PZRIF)

• Annual Expected Return: 4.0%

Pizza Pizza Royalty Corp. is a Canadian entity which collects and distributes a dividend stream based on royalties earned from the Pizza Pizza and Pizza 73 restaurant chains.

The company’s base reporting currency is Canadian Dollars, but this report will use U.S. Dollar figures except when otherwise noted.

Pizza Pizza Royalty Corp. receives income from 797 combined total restaurant locations across Canada under its two brands. More than 150 of these are non-traditional locations sited in public places such as universities and hospitals.

Pizza Pizza has outsized exposure to the province of Alberta thanks to its ownership of Pizza 73 which is centered in that province.

Pizza Pizza reported its Q1 2025 results on May 7th, 2025. Same store sales grew 1.2% in Q1 versus the prior year. While nothing extraordinary, this was a sequential improvement as Pizza Pizza had reported negative same store sales throughout 2024.

While revenues ticked up, so did expenses, leading to flattish results. EPS of 17 cents fell by 1% from the same period of the prior year.

Click here to download our most recent Sure Analysis report on PZRIF (preview of page 1 of 3 shown below):

High Dividend Stock To Sell #2: Northland Power (NPIFF)

• Annual Expected Return: 4.1%

Northland Power develops, builds, owns, and operates power generation assets, including offshore and onshore wind, solar, natural gas, and battery energy storage systems.

It also supplies energy through a regulated utility in Colombia. Northland manages 3.2 GW of gross operating capacity and has 2.4 GW in active construction across three projects: Hai Long (Taiwan), Baltic Power (Poland), and Oneida (Canada), with a broader development pipeline totaling about 10 GW.

Northland reports in CAD. All figures have been converted to USD unless otherwise noted. On May 13th, 2025, Northland Power reported its Q1 results for the period ending March 31st, 2025. Revenue declined 14% year-over-year to about $467 million, primarily due to exceptionally low wind conditions in Europe and a strong wind quarter the year prior, partially offset by higher contributions from North American onshore wind and natural gas assets.

Adjusted EBITDA fell 20% to approximately $260 million, reflecting weaker offshore wind production despite continued operational discipline. Net income fell to $80 million from $107 million a year earlier, driven by the same headwinds in offshore generation and derivative fair value changes.

Click here to download our most recent Sure Analysis report on NPIFF (preview of page 1 of 3 shown below):

High Dividend Stock To Sell #1: ARMOUR Residential REIT (ARR)

• Annual Expected Return: 4.3%

ARMOUR Residential invests in residential mortgage-backed securities that include U.S. Government-sponsored entities (GSE) such as Fannie Mae and Freddie Mac.

It also includes Ginnie Mae, the Government National Mortgage Administration’s issued or guaranteed securities backed by fixed-rate, hybrid adjustable-rate, and adjustable-rate home loans.

Unsecured notes and bonds issued by the GSE and the US Treasury, money market instruments, and non-GSE or government agency-backed securities are examples of other types of investments.

On April 23, 2025, ARMOUR Residential REIT reported its financial results for the first quarter of 2025. The company announced a GAAP net income available to common stockholders of $24.3 million, or $0.32 per common share.

Distributable earnings, a non-GAAP measure, were $64.6 million, equating to $0.86 per common share. Net interest income for the quarter stood at $36.3 million.

The average interest income on interest-earning assets was 5.00%, while the interest cost on average interest-bearing liabilities was 4.51%, resulting in an economic net interest spread of 1.88%. The company’s book value per common share decreased to $18.59 from $19.07 at the end of 2024, and the total economic return for the quarter was 1.26%.

Click here to download our most recent Sure Analysis report on ARMOUR Residential REIT Inc (ARR) (preview of page 1 of 3 shown below):

Final Thoughts & Additional Reading

High dividend stocks are naturally appealing on the surface, due to their high dividend yields.

But income investors need to make sure they do not fall into a dividend ‘trap’, meaning purchasing an overvalued stock solely due to its high yield.

There are other important factors when buying stocks, specifically the total return potential. Stocks with negative or low future returns should be sold, even when they offer a high dividend yield.

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More By This Author:

The 10 Highest Yielding Dividend Champions
3 High Yielding Dividend Champions Yielding Over 5%
15 Highest Yielding Utility Stocks

DeLisle Worrell.

ChatGPT has predicted the end-of-year prices of three major cryptocurrencies: XRP, Shiba Inu, and Bitcoin Cash.

The AI chatbot believes that $XRP can hit a high of $15, almost 600% up from its current price of $2.15. This could be thanks to increasing $XRP adoption and possible ETF approvals.

Recently, the Ontario Securities Commission (OSC) approved the launch of a spot XRP ETF on the Toronto Stock Exchange (TSX). Also, the SEC is expected to approve an $XRP ETF in the US as well.

Plus, around 2,700 wallets now hold more than 1M $XRP, which is the highest level of adoption seen to date. This shows increasing global corporate interest in the Ripple-based payment crypto.

Keep reading to find out GPT’s predictions for the other two tokens, our take on its predictive abilities, and why, despite being a good option for research, it doesn’t stack up to trading tools like Snorter Token, arguably the most powerful sniping bot on the market.

ChatGPT on Shiba Inu & Bitcoin Cash

ChatGPT believes Shiba may hit $0.00008–$0.00012 by the end of the year. The asset is currently trading at $0.00001160, which means it would see a 10x rise according to GPT’s prediction.

While it may seem steep, increasing adoption of Shiba’s Layer 2 solution, Shibarium, alongside token burn events may propel the coin to new highs.

On the other hand, GPT has made a more modest prediction for Bitcoin Cash ($BCH), expecting it to reach around $1,200-$1,500 by the end of 2025, a 3x increase from the current price of $464.

$BCH has already moved more than 30% in the last 2 months, showing good bullish momentum. So, it’s absolutely possible for the asset to close the year somewhere near to ChatGPT’s predictions.

While the predicted numbers may seem outrageous to some, they aren’t exactly unfathomable.

Crypto markets are known for their crazy directional moves, and with several bullish legislative and institutional signals flaring up, ChatGPT’s predictions may prove to be pretty accurate.

Here’s the kicker: while ChatGPT can provide pretty educated price analysis based on current market trends and sentiment, it can’t execute trades on your behalf, let alone keep you safe from any dangers that come with trading meme coins.

That’s where Snorter Bot, powered by the Snorter Token, becomes a sight to behold.

What is Snorter Token?

Snorter Token ($SNORT) is the crypto behind Snorter Bot, a new Telegram-based trading bot that aims to provide retail meme coin degens a level playing field alongside whales and institutions.

Snorter’s biggest selling point stands in its advanced trading tools and its ability to snipe the best meme coins as soon as they’re listed on exchanges.

This is a game-changing feature because early snipes are usually the ones that capture massive gains before the broader market tags along.

Another huge benefit of using Snorter Bot is low trading fees.

Unlike the competition, such as Banana Gun and Bonk Bot, which charge a minimum of 1%, Snorter Bot clamps it down to just 0.85%. Thanks to this, you’ll retain more of your profits when trading.

How Snorter Bot Keeps You Safe from Scams and Attacks

Snorter Bot’s security is top of the ladder, too. For starters, your swaps are routed through a private Solana RPC infrastructure, which ensures priority execution and front-running protection.

Snorter Bot also uses MEV-resistant relays, which will safeguard you against sandwich attacks.

For those unaware, sandwich attacks are incredibly dangerous and used by malicious actors to exploit price slippage, which ends up costing you more per transaction.

Is $SNORT the Best Crypto to Buy Now?

According to our $SNORT price prediction, the Snorter Token could be the next crypto to explode, seeing as it’s expected to surge 3,290% and reach $3.25 by 2030.

Much of this growth is down to Snorter’s trading features and tight security, which will keep the $SNORT token in high demand. However, we must also consider the potential of the overall crypto trading bot market.

It was valued at a whopping $1.2B in 2023. More importantly for our analysis, it’s expected to reach $4.5B by 2030, with a CAGR of 15.6%.

Another reason for Snorter’s exponential growth would be its Telegram roots. After all, it’s an insanely popular platform among traders, who make up a fair chunk to its 950M active monthly users.

So, in addition to giving you access to one of the best trading bots going around, buying $SNORT could also prove to be a good crypto flip once the token presale ends.

To learn more about the project, check out its whitepaper. You can also join its X and Instagram channels for regular updates and communication.

Disclaimer: While there’s no second-guessing $SNORT’s value proposition, bear in mind that investments in crypto are subject to market risks. Always do your own research before investing. This article isn’t financial advice.