Category: Canada

Teck Provides Update on Chile Operations Maintenance


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BriaCell Reports Robust Overall Survival and Clinical Benefit Data at ASCO 2025


BriaCell Reports Robust Overall Survival and Clinical Benefit Data at ASCO 2025 – Toronto Stock Exchange News Today – EIN Presswire




















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Custom Health Enters into Definitive Agreement to Complete Business Combination with Queue Ventures

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Vancouver, British Columbia–(Newsfile Corp. – May 30, 2025) – Custom Health, Inc. (“Custom Health“), a technology-enabled healthcare solutions company providing innovative products and services designed to improve the well-being of individuals across North America, has entered into a definitive arrangement agreement dated May 30, 2025 (the “Arrangement Agreement“) with Queue Ventures Ltd. (“Queue“). The transaction is expected to provide Custom Health with access to growth capital to support the expansion of its existing business model and operations.

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In connection with the Transaction, Custom Health and Queue have also entered into an engagement letter with Stifel Nicolaus Canada Inc. (“Stifel“) with respect to (the “Offering“) (i) a commercially reasonable best efforts private placement of up to 3,000,000 subscription receipts of Custom FundCo (as defined below) (“FundCo Subscription Receipts“) at a price per FundCo Subscription Receipt of US$10.00 for aggregate gross proceeds of up to US$30 million, and (ii) a debt financing of up to US$30 million or such other amount and on such terms as may be agreed between Stifel, Queue and Custom Health (the “Debt Financing“).

“This milestone is a testament to the power of our model, the trust of our partners, and the dedication of our team,” said Shane Bishop, CEO of Custom Health. “We’re proud to announce a definitive agreement to take Custom Health public on the TSX – a transformative step that reflects our mission to personalize care at scale. As a public company, we’re excited to expand access to our innovative care solutions, improve outcomes for more patients, and deliver value to all our stakeholders.”

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The Transaction

Under the Arrangement Agreement with (i) Custom Health, a corporation existing under the laws of Delaware, and Queue, (ii) Custom Merger Sub, Inc. (“Merger Sub“), a corporation existing under the laws of Delaware and a wholly-owned subsidiary of Queue that has been formed for the sole purpose of participating in and facilitating the Arrangement (as defined below), (iii) Queue BC Subco Inc. (“Queue Subco“), a corporation existing under the laws of British Columbia and a wholly-owned subsidiary of Queue that has been formed for the sole purpose of participating in and facilitating the Arrangement, and (iv) Custom Fundco Inc. (“Custom Fundco“), a corporation existing under the laws of British Columbia that has been formed for the sole purpose of participating in and facilitating the Arrangement by conducting the Offering (as defined below), pursuant to which, among other things, Queue proposes to acquire all of the issued and outstanding shares in the capital of Custom Health (the “Custom Shares“) by way of a statutory plan of arrangement (the “Arrangement“) under the Business Corporations Act (British Columbia) (the “Transaction“).

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Pursuant to the Arrangement Agreement, and upon the satisfaction or waiver of the conditions set out therein, the following, among other things, will be completed in connection with the consummation of the Transaction: (i) Custom Health will merge with Merger Sub pursuant to the provisions of the Delaware General Corporations Law (the “Merger”); (ii) Custom Fundco will amalgamate with Queue Subco pursuant to the provisions of the Business Corporations Act (British Columbia) (the “Amalgamation“); (iii) the company resulting from the Merger will become a wholly-owned subsidiary of Queue; (iv) the company resulting from the Amalgamation will convey its assets to Queue and be subsequently wound-up; and (v) the securityholders of Custom Health will hold substantially equivalent securities of Queue (following the Transaction, the “Resulting Issuer“).

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Resulting Issuer

Following the completion of the Transaction (“Closing“), the Resulting Issuer will operate as a health technology and solutions company. Closing is subject to a number of conditions, which include, among others, closing of the Offering, receipt of all necessary board, shareholder and regulatory approvals, including the conditional approval of the listing of the common shares of the Resulting Issuer (“Resulting Issuer Shares“) on the Toronto Stock Exchange (the “TSX“) (the “Listing“). The Listing will be subject to satisfying all of the TSX’s initial listing requirements as an Industrial/Technology issuer. Custom Health will also convene a meeting of its shareholders for the purposes of approving the Merger.

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Immediately prior to Closing, the Resulting Issuer is expected to change its name to “Custom Health Holdings Inc.” or such other name as may be agreed to by the parties and accepted by applicable regulators.

The Offering

Stifel shall act as lead agent and sole bookrunner in connection with the Offering. Stifel has also been granted an option (the “Agents’ Option“) to increase the size of the Offering by up to 15% which Agents’ Option shall be exercisable in whole or in part at any time for up to 48 hours prior to the closing of the Offering (the “Offering Closing Date“).

Each FundCo Subscription Receipt will automatically convert into one common share in the capital of Custom FundCo (each, a “FundCo Share“) upon satisfaction of certain escrow release conditions (the “Escrow Release Conditions“), subject to adjustment in certain events, at no additional cost to the holder as described in a subscription receipt agreement to be entered into by the parties and a mutually acceptable escrow agent. In connection with Closing, each FundCo Share received by holders of the FundCo Subscription Receipts shall then be converted into one Resulting Issuer Share pursuant to the Amalgamation.

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In the event that the Escrow Release Conditions are not satisfied prior to the date that is 180 days after the Offering Closing Date or such later date as mutually agreed, the escrow agent will return to holders of FundCo Subscription Receipts an amount equal to the aggregate issue price of the FundCo Subscription Receipts held by them and their pro rata portion of any interest earned thereon.

Subject to the receipt of all requisite approvals, the Offering is expected to be completed on or about July 15, 2025 or such other date to be determined between Custom Health, Queue and Stifel.

The Resulting Issuer intends to use the net proceeds from the Offering for working capital and general corporate purposes.

Following completion of the Transaction, the Resulting Issuer Shares received upon conversion of the FundCo Shares will not be subject to a statutory hold period in Canada.

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Sponsorship

Under the policies of the TSX, the parties to the Transaction will be required to engage a sponsor for the Transaction unless an exemption or waiver from this requirement can be obtained.

Disclosure Document

In connection with the Transaction, Queue will file a management information circular or other disclosure document under Queue’s profile on SEDAR+ at www.sedarplus.ca, which will contain details regarding the Transaction, the Arrangement, the Offering, the Debt Financing, Queue, Custom Health and the Resulting Issuer (including applicable financial statements).

In the event any of the conditions set forth above are not completed or the Transaction does not proceed, Queue will notify shareholders.

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This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

About Queue Ventures Ltd.

Queue was formed under the Business Corporations Act (British Columbia) on October 29, 2021 and is an unlisted reporting issuer in each of British Columbia and Alberta. Queue has no commercial operations and no assets other than cash.

About Custom Health

Custom Health provides a comprehensive technology-enabled medication management and managed care solution, resulting in 98%1 medication adherence for its patients across the United States and Canada. Custom Health is focused on serving poly-med patients with chronic conditions, representing an estimated market of 78 million2 adults in North America. These patients take multiple medications several times throughout the day and often struggle to adhere to their prescription regimen, presenting a significant challenge and costing the North American healthcare system an estimated US$550 billion per year3.

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Further Information

Queue and Custom Health plan to issue additional press releases providing further details in respect of the Transaction, the Offering, the Debt Financing and other material information as it becomes available.

This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

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As noted above, completion of the Transaction is subject to a number of conditions. 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 other disclosure document to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.

No stock exchange or regulatory authority has passed upon the merits of the Transaction or approved or disapproved of the contents of this news release.

All information contained in this news release with respect to Queue was supplied by Queue, and Custom Health and its directors and officers have relied on Queue for such information.

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Cautionary Note Regarding Forward-Looking Information

This press release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Queue and Custom Health with respect to the Transaction, the Offering, the Debt Financing, the Listing, and the future business activities and operating performance of the Resulting Issuer. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: expectations regarding whether the Transaction will be consummated and whether the Offering or Debt Financing will be completed, including whether conditions to the consummation of the Transaction and completion of the Offering and Debt Financing will be satisfied, the timing and terms for completing the Transaction and the Offering and Debt Financing, and expectations for the effects of the Transaction or the ability of the Resulting Issuer to successfully achieve business objectives.

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Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management of Queue and Custom Health’s management, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Queue and Custom Health believe that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. The reader should not place undue reliance on these forward-looking statements, as there can be no assurances that the plans, initiatives or expectations upon which they are based will occur. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability to consummate the Transaction and/or the Offering and Debt Financing; the ability of Custom Health to meet its obligations under its material agreements; the ability to obtain requisite regulatory and other approvals and the satisfaction of other conditions to the consummation of the Transaction and/or the Offering and Debt Financing on the proposed terms and schedule; investor demand and interest in the Offering and Debt Financing; the potential impact of the announcement or consummation of the Transaction and/or the Offering and Debt Financing on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the Transaction and/or the Offering and Debt Financing. This forward-looking information may be affected by risks and uncertainties in the business of Queue and Custom Health and market conditions.

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Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward- looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Queue and Custom Health have attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Queue and Custom Health do not intend, and do not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

________________________

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1 BMC Geriatrics, “Medication adherence support of an in-home electronic medication dispensing system for individuals living with chronic conditions: a pilot randomized controlled trial
2 CDC, “Prevalence of Multiple Chronic Conditions Among US Adults, 2018″; Statistics Canada; BMC, “Chronic disease multimorbidity among the Canadian population: prevalence and associated lifestyle factors“; Statista, “Resident population of Canada in 2022, by gender and age group
3 Sage Journals, “Cost of Prescription Drug-Related Morbidity and Mortality”; National Library of Medicine, “Cost-related nonadherence to prescription medications in Canada: a scoping review

# # #

Not for distribution to United States newswire services or for dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254059

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Enablence Technologies Inc. Announces Third Quarter Fiscal 2025 Financial Results

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Ottawa, Ontario–(Newsfile Corp. – May 30, 2025) – Enablence Technologies Inc. (TSXV: ENA) (“Enablence” or the “Company”), a leading provider of optical chips and sub systems that perform communications, sensing and computing datacom, telecom, automotive and artificial intelligence (AI) applications has filed its audited financial statements for the third quarter ending March 31, 2025 and related management’s discussion and analysis and certifications (collectively, the “Financial Statements”). Electronic copies of the Financial Statements are available on SEDAR (www.sedar.com) under Enablence’s issuer profile.

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Commenting on the Company’s third quarter, fiscal year 2025 performance, CEO, Todd Haugen stated, “The macro-economic outlook has been disrupted by recent, short-term geo-political events that impacted supply chain operations of Enablence and the industry at large. Despite the challenges posed by these extraordinary events, I am pleased to report that we have been able to minimize the global impact of these events on our operational plan for the time-being and can report another strong quarter. Consequently, we remain committed to the lower end of the previously stated guidance in respect of our revenue target for Fiscal Year 2025.”

“Our order book is strong, and we continue to grow revenue in our core datacom business which is strengthening in line with expectations,” said Haugen. “In addition, we are gaining new market share and customers in artificial intelligence and advanced vision businesses, especially in the LiDAR space as evidenced by the recent Light IC announcement unveiling the first FMCW chip for LiDAR applications. In terms of our strategic growth plan, I can report that demand continues to be strong across all three businesses – optical communications, optical sensing, and optical compute.”

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Financial Highlights

Enablence is pleased to provide the following highlights for the third quarter 2025FY (all dollar figures are expressed in thousands of United States dollars):

  • Revenue Growth: Revenue for the three months ended March 31, 2025 was $1,248 as compared to $412 for the same period in the prior year, an increase of $836 or 203%. For the nine months ended March 31, 2025, revenue was $2,869, up 294% from $977 in the same period last year​.
  • Gross Margin Improvement: The company’s gross margin declined by $172, with a reported gross margin of $(782) for the quarter, compared to $(610) in the previous year. While there was a nominal decline, the gross margin percentage improved significantly as capacity increased.
  • Net Loss Increase: Enablence reported a net loss of $3,023, compared to a $2,069 net loss in the same quarter last year, an increase of 46%. The slightly higher loss was driven by investments in Sales & Marketing, R&D​ and investments in capacity.
  • Improved Comprehensive Loss Position: The company’s comprehensive loss increased to $4,384 for the quarter, compared to $2,954 in the same period last year.
  • Stronger Cash Position: Enablence ended the quarter with $3,422 in cash and cash equivalents, a significant increase from $614 as of March 31, 2024, supporting its ongoing operations and future growth initiatives.
  • Continuing Investment: Investors injected another $4,528 in new funding over the period as the Company continues to invest in manufacturing capacity and R&D as its products continue to gain significant traction.

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Outlook

Based on the Company’s current business outlook, management expects the overall performance for Fiscal Year 2025 to be as follows:

  • Guidance in respect of our revenue target for FY25 remains $6M +/- $0.5M
  • Based on current updated projections, we expect to become gross margin positive in calendar year 2025.

The “Financial Highlights” above are qualified in their entirety by the Financial Statements, which are available on SEDAR (www.sedar.com) under Enablence’s issuer profile. For additional information on the Company, please refer to the investor presentation of the Company, which is available on Enablence’s website (www.enablence.com/investors) in the “Corporate – Investors” tab.

About Enablence Technologies Inc.

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Enablence is a publicly traded company listed on the TSX Venture Exchange (TSXV: ENA) that designs, markets and sells optical chips and sub systems, primarily in the form of planar lightwave circuits (PLC), on silicon-based chips for datacom, telecom, automotive and artificial intelligence (AI) applications. Enablence products serve a global customer base, primarily focused today on data center and other rapidly growing end markets. Enablence also works with customers that have emerging market uses for its technology, including medical devices, automotive LiDAR, and virtual and augmented reality headsets. In select strategic circumstances, the Company also uses its proprietary, non-captive fabrication plant in Fremont, California to manufacture chips designed by third party customers. For more information, visit: www.enablence.com.

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Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking statements regarding the Company based on current expectations and assumptions of management, which involve known and unknown risks and uncertainties associated with our business and the economic environment in which the business operates. All such statements are forward-looking statements under applicable Canadian securities legislation. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. These statements are based on current expectations that involve several risks and uncertainties which could cause actual results to differ from those anticipated. Although the Company believes that the expectations reflected in the forward-looking statements contained in this news release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. We caution our readers of this news release not to place undue reliance on our forward-looking statements as a few factors could cause actual results or conditions to differ materially from current expectations. Additional information on these and other factors that could affect the Company’s operations are set forth in the Company’s continuous disclosure documents that can be found on SEDAR (www.sedar.com) under Enablence’s issuer profile.

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Enablence does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether because of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/254075

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Featured Local Savings

TSX posts biggest monthly gain since November as political risk potentially peaks

TSX ends down 0.1% at 26,175.05

For the month, the index gains 5.4%

First-quarter GDP increases 2.2%

May 30 – Canada’s main stock index edged lower on Friday as energy and metal mining shares lost ground, but the index still posted its biggest monthly advance since November, helped by easing global trade tensions.

The Toronto Stock Exchange’s S&P/TSX composite index ended down 35.51 points, or 0.1%, at 26,175.05, its second straight day of declines after posting a record closing high on Wednesday. For May, the index was up 5.4%.

“I wouldn’t be surprised to see some consolidation after a big run, but intermediate-term the path of least resistance is up,” said Joseph Abramson, co-chief investment officer at Northland Wealth Management. “I think that political risk has peaked in terms of tariffs.”

The U.S. has suspended in recent weeks some of the sweeping tariffs it has imposed on goods from other countries, while Canada’s economy has fared better during the first few months of the global trade war than some economists had expected.

Canadian gross domestic product increased at an annualized rate of 2.2% in the first quarter, beating estimates for a gain of 1.7%.

The energy sector fell 1.8% on Friday as the price of oil settled 0.25% lower at $60.79 a barrel and after oil sands company MEG Energy said it evacuated all nonessential workers from its Christina Lake production facility in northern Alberta due to wildfires burning in the area. The company’s shares ended 2.8% lower.

The materials group, which includes metal mining shares, also lost ground as the price of gold dipped.

Heavily weighted financials added 0.2%, and were up 1.3% for the week in which Canada’s biggest banks reported quarterly earnings.

This article was generated from an automated news agency feed without modifications to text.

NFI Announces Pricing of $600 million Second Lien Notes Offering


NFI Announces Pricing of $600 million Second Lien Notes Offering – Toronto Stock Exchange News Today – EIN Presswire




















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Oilsands power play as producers ponder takeover (Business)

Strathcona Resources Ltd. has formally launched its takeover bid for fellow oilsands producer MEG Energy.

Its offer, open until Sept. 15, comprises 0.62 of a common share of Strathcona and $4.10 in cash for each MEG share it doesn’t already own.

MEG said Friday that its board as well as legal and financial advisers will consider the offer. A special committee of independent directors will assist in that review.

The target company is urging shareholders to take no action until it has made a recommendation, which it expects to do within 15 days.

Also Friday, Strathcona announced an equity commitment letter with Waterous Energy Fund, whose CEO Adam Waterous is executive chairman of Strathcona.

The fund owns almost 80 per cent of Strathcona shares, and the new investment is worth about $662 million.

“WEF’s major further investment in Strathcona reflects our view that more than eight years into building Strathcona, our best years are in front of us. As part of the offer, we are asking MEG shareholders to join us as fellow shareholders in Strathcona and trust the Strathcona team as stewards of their capital,” Waterous said in a release Friday.

“We therefore believe it is important that we eat our own cooking, ensuring no one will be more focused on increasing Strathcona’s value beyond current levels than WEF. We firmly believe Strathcona represents compelling value at this price with a large margin of safety, and that we and the partners in our fund will do very well over the long run.”

Strathcona announced its ambitions to snap up MEG earlier this month.

On a call with analysts at the time, Waterous said his company and MEG have assets so complementary they are like “doppelgangers” or “brothers from another mother.”

Strathcona and MEG both extract bitumen using steam-driven techniques in eastern Alberta and don’t have fuel refining or retail businesses like some bigger oilsands players.

Shortly before the MEG bid was announced, Strathcona signalled its plans to become a pure-play heavy oil company when it announced the sale of its Alberta shale natural gas operations in three separate deals for a total of $2.84 billion.

It also said it bought the Hardisty crude-by-rail terminal in Alberta for about $45 million.

Strathcona shares rose more than two per cent to $29.42 in Friday trading on the Toronto Stock Exchange. MEG shares fell almost two per cent to $24.53.

MEG’s stock has been trading higher than the value of the bid, suggesting investors believe a better offer might come along. Analysts have said competing bids may come from oilsands majors like Cenovus Energy Inc., Canadian Natural Resources Ltd. or Imperial Oil Ltd.

TSX slips as Trump says China violated tariff agreement

Canada’s main stock index slipped on Friday, as trade worries over U.S. President Donald Trump’s accusation in a social media post of China violating a tariff agreement offset positive sentiments about domestic economic growth.

“China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!,” Trump said on his Truth Social platform.

The Toronto Stock Exchange’s S&P/TSX composite index was down 0.3% at 26,133.45 points. However, for the week, the index was up 1.2%.

Global equities had initially rallied in the previous session, after the Court of International Trade ruled late on Wednesday to effectively block most levies imposed since January.

However, a U.S. federal appeals court temporarily reinstated Trump’s tariffs on Thursday, to consider the government’s appeal.

“People who were expecting to see some clarity in the market are going to be somewhat disappointed”, said Michael Sprung, president at Sprung Investment Management.

“When Trump says China has violated any sort of agreement the whole premise might be that he might do something retaliatory, which is going to be inflationary and harmful.”

Data showed, Canada’s economy grew faster than expected in the first quarter. But an increase in imports that led to inventory build-up, lower household spending and weaker final domestic demand showed that the economy was battling on the domestic front. Economists have warned that as tariffs continue on Canada, this trend will persist.

This comes ahead of the Bank of Canada’s rates decision next week. The market sees a 22% chance of a rate cut next week, down from 27% before GDP data.

The TSX has gained 5.4% so far in May and was set for its best month in six, boosted by investor optimism on easing of the global trade war earlier this month.

South of the border, U.S. consumer spending increased marginally in April as a rush to beat higher prices from import duties slowed.

On TSX, energy subindex fell 1.3% as oil prices headed for a second consecutive weekly loss.

Healthcare stocks fell 1.7%.

Cathedra Bitcoin Announces First Quarter 2025 Financial Results

(MENAFN– Newsfile Corp)
Toronto, Ontario–(Newsfile Corp. – May 30, 2025) – Cathedra Bitcoin Inc. (TSXV: CBIT) (OTCQB: CBTTF) (” Cathedra, ” the ” Company ,” or ” we “), a bitcoin company that develops and operates digital infrastructure assets with the goal of maximizing its per-share bitcoin holdings, today announces our first quarter (” Q1 “) financial results for 2025:

Q1 2025 Financial Highlights

  • Total revenues for the three months ended March 31, 2025, of C$6.5 million, compared to C$5.9 million during the three months ended March 31, 2024, an increase of 11%.

  • In March, we prepaid the outstanding C$5.7 million of principal on our 3.5% senior secured convertible debentures due November 11, 2025 (the ” Debentures “), for C$4.6 million of cash, representing a 20% discount to par (plus accrued interest). Additionally, the creditor surrendered for cancellation 10.9 million warrants to purchase subordinate voting shares at a price of C$0.12 per share until November 11, 2026.

  • To partially fund the repayment of the Debentures, we entered into a new loan for US$2.5 million, which is secured by approximately 50 of our bitcoin; carries interest at a rate of 13.0% per annum, payable monthly; and is interest-only until maturity on March 18, 2026.

  • Subsequent to quarter end, we repurchased and cancelled an additional 14,205,000 subordinate voting share purchase warrants for total cash consideration of US$75,002. These warrants also had an exercise price of C$0.12 and were set to expire in 2026 and 2027.

  • As of May 30, 2025, we hold approximately C$0.5 million of cash and C$7.6 million of bitcoin (52.5 bitcoin) for total liquidity of C$8.1 million. Our 52.46 bitcoin translates to approximately 6 satoshis (or “sats”) per share.

Q1 2025 Operating Highlights

  • In January, we announced a new 10-megawatt power purchase agreement in connection with a potential greenfield bitcoin mining data center development in Tennessee. This would mark our second site in Tennessee and is expected to achieve a cost of power of approximately US$30 per megawatt-hour. Upon final regulatory approvals, we intend to begin construction on the new site, which could be fully operational in as little as three months thereafter.

  • Also in January, we announced a new partnership with Synota Inc. (” Synota “), a software company that provides automated payments for C&I energy and hosting contracts to reduce financial risk and deliver consistent cash flow. Under the partnership, we utilize Synota’s tools to facilitate daily or weekly settlement of hosting bills, thereby improving cash flow cycles, reducing risk and simplifying back-office processes. This partnership has also added flexibility for Cathedra to accumulate bitcoin, by providing us the option to receive daily hosting payments in the form of U.S. dollars or bitcoin.

  • In March, we announced that Tirpitz Technology Holdco LLC (the ” JV “), a joint venture that owns and operates a 60-megawatt bitcoin mining data center in North Dakota (the ” North Dakota Facility “) and in which Cathedra holds a minority interest, entered into a binding agreement to sell 100% of the membership units in the JV to a third-party bitcoin miner for total cash consideration of approximately US$21.0 million. The agreement was contingent upon the completion of several performance milestones which were recently achieved, and we expect the transaction to close in the coming weeks (subject to closing conditions and customary regulatory approvals).

Management Commentary

“The first several months of 2025 have affirmed our all-weather strategy, under which we offer hosting services to third-party bitcoin miners while maintaining exposure to mining upside through our own fleet of machines and opportunistic profit-sharing arrangement with certain hosting clients,” remarked AJ Scalia, CEO of Cathedra. “During April, daily hash price hit lows of roughly US$40/PH, during which time the stability of our hosting business allowed us to continue operating without selling down our existing bitcoin strategy. In the weeks since, hash price has rallied nearly 50% as bitcoin has surged to new all-time highs, and we have benefited through our direct exposure to hash rate.

“We took important steps to optimize our capital structure, prepaying our outstanding convertible debt at a significant discount to its par value and cancelling a total of nearly 25 million warrants.

“Looking toward the future, we have contracted another 10 megawatts of power capacity at a new site in Tennessee, which would expand our data center portfolio by 33%. We continue work to expand this growth pipeline further.

“Finally, we recognize that obtaining a listing on a major U.S. stock exchange will meaningfully improve our liquidity, access to capital, and public profile, and continue to work toward bringing Cathedra’s shares to the deepest capital market in the world.”

About Cathedra Bitcoin Inc.

Cathedra Bitcoin Inc. develops and operates digital infrastructure assets across North America with the goal of maximizing its per-share bitcoin holdings. The Company hosts bitcoin mining clients across its portfolio of three data centers (30 megawatts total) in Tennessee and Kentucky and recently developed and sold a 60-megawatt data center in North Dakota, a joint venture in which Cathedra held a minority interest, closing of which is anticipated to occur in the second quarter of 2025. Cathedra also operates a fleet of proprietary bitcoin mining machines at its own and third-party data centers, producing approximately 400 PH/s of hash rate. Cathedra is headquartered in Vancouver and its shares trade on the TSX Venture Exchange under the symbol CBIT and in the OTC market under the symbol CBTTF.

At time of publishing, the Company holds approximately 52.5 bitcoin worth approximately US$5.5 million and amounting to approximately 6 satoshis (or “sats”) per share.

For more information about Cathedra, visit cathedra or follow Company news on Twitter at @CathedraBitcoin or on Telegram at @CathedraBitcoin .

Media and Investor Relations Inquiries

Please contact:

Antonin Scalia
Chief Executive Officer
+1 (604) 259-0607

Forward-Looking Statements

This news release contains certain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. The information in this release about future plans and objectives of the Company, are forward-looking information. Forward-looking information contained in this news release includes but is not limited to information concerning: the potential for and merits of the Kungsleden acquisition; the benefits of the strategy to become a developer and operator of high-density compute infrastructure for bitcoin mining and/or other potential end markets; and other statements regarding future plans and objectives of the Company. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made. The Company has also assumed that no significant events occur outside of its normal course of business.

Additionally, these forward-looking statements may be affected by risks and uncertainties in the business of Cathedra and general market conditions. Investors are cautioned that forward-looking statements are not based on historical facts but instead reflect Cathedra’s management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Cathedra believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: an inability successfully integrate the Kungsleden business on terms which are economic or at all; a failure to realize the expected benefits of the business plan to develop and operate high-density compute infrastructure for bitcoin mining and/or other potential end markets; the risks of an increase in the Company’s electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the potential adverse impact on the Company’s profitability; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; future capital needs and the ability to complete current and future financings, as well as capital market conditions in general; volatile securities markets impacting security pricing unrelated to operating performance; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation and the costs associated with compliance; unanticipated costs; changes in market conditions impacting the average revenue per MWh; and the risks and uncertainties associated with foreign markets. Additionally, the forward-looking statements contained herein may be affected by risks and uncertainties in the business of Cathedra and general market conditions. Please see the Company’s management information circular dated June 18, 2024 which is available for view the Company’s SEDAR+ profile on . Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. Readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.



To view the source version of this press release, please visit

SOURCE: Cathedra Bitcoin Inc.

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