Category: Canada

Global markets climbed on Monday and the euro rallied after US President Donald Trump kicked his threat to slap 50% tariffs on European Union goods into July, marking another temporary trade policy reprieve.

MSCI’s broadest index of world shares rose 0.2%. The pan-European stocks index, last up .9%, recovered to where it was trading before Trump on Friday unexpectedly called for 50% tariffs on European goods, saying negotiations with the region had become too sluggish.

On Sunday, Trump reversed course, pushing the deadline for tariffs to July 9 from June 1, after European Commission President Ursula von der Leyen said the 27-nation bloc needed more time to produce a deal.

Trump’s latest policy moves were a reminder to investors how quickly circumstances could change. Analysts have pointed out that investors are shifting their money out of US markets to Europe and Asia as they price in a possible US recession and a consequent global slowdown.

European stock markets rallied Monday after US President Donald Trump delayed 50-percent tariffs on the European Union until July 9 to give more time for negotiations.

Trump provided some relief Sunday by saying he was putting off the EU tariffs until July 9 after a “very nice call” with European Commission President Ursula von der Leyen, adding that officials will “rapidly get together and see if we can work something out”.

Von der Leyen vowed to move “swiftly” to reach a deal.

On Monday the Paris CAC 40 index closed 1.2 per cent higher while the Frankfurt gained 1.7 per cent.

London and Wall Street were closed for holidays, but US futures were higher while Asia struggled.

Analysts said the latest unexpected salvos from the White House highlighted the uncertain path investors are having to walk owing to the president’s volatile policy pivots.

“The stock market seems to dance to Trump’s tune: first a threat, then a pullback, quickly followed by a rebound as speculative investors anticipate a concession from the US president,” said Jochen Stanzl, chief market analyst at CMC Markets trading platform.

“This morning’s confirmation of such expectations reinforces the so-called ‘Trump Pattern’, which is increasingly seen as a successful strategy for risk-tolerant investors.” The dollar remained under pressure after dropping Friday.

Oil prices fluctuated and ended flat, with producers’ group OPEC+ expected this week to continue to raise production despite low prices, after pressure from Trump.

– Steel saga – Investors have also fretted over Trump’s economic policies, with US long-term government bond yields surging last week over concerns that his tax relief and spending cuts plan − which was approved by the House − will increase the US debt pile.

Traders are also looking ahead to Wednesday’s release of minutes from the Fed’s earlier May policy meeting, hoping for an idea about the central bank’s views on the economy.

That is followed by the Fed’s preferred measure of inflation − US personal consumption expenditures − on Friday.

In company news, shares in Seoul-listed Samsung rose almost one per cent despite Trump’s threat of tariffs on smartphone makers.

In Tokyo, Nippon Steel rallied as much as 7.4 per cent after Trump threw his support behind a new “partnership” between the Japanese firm and US Steel. It ended up 2.1 per cent. US Steel soared 21 per cent in New York on Friday.

In Europe, shares in steel giant ThyssenKrupp surged 8.7 per cent after the firm said it planned a major overhaul that will split the vast conglomerate into several standalone businesses.

Swedish carmaker Volvo rose more than two per cent after it announced it would cut 3,000 jobs as part of a $1.9 billion cost-cutting plan.

Separately, Canada’s main stock index surged on Monday, after US President Donald Trump extended the deadline for European Union trade talks, providing a brief respite to investor concerns over his erratic trade policies.

The Toronto Stock Exchange’s S&P/TSX composite index was up 0.6% at 25,024.83 points.

On Sunday, Trump backed away from his threat to impose 50% tariffs on EU imports to July 9 from June 1, after European Commission President Ursula von der Leyen said the 27-nation bloc needed more time to produce a deal.

However, despite global market sentiment steadying after new trade deals with the UK and China earlier this month, Trump’s sweeping tariffs and pauses since April 2 continue to generate uncertainty among investors and companies.

Agencies

(MENAFN– Newsfile Corp)
Toronto, Ontario–(Newsfile Corp. – May 26, 2025) – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) announces that an amendment to the Company’s restricted share unit plan (the “RSU Plan”) will be included in the matters to be presented to shareholders at the annual and special meeting of shareholders of Torex scheduled to be held on June 18, 2025 (the “Meeting”).

The RSU Amendment is being made in response to comments from a proxy voting advisory and corporate governance services firm (the“Proxy Advisory Firm”). The amendment to the RSU Plan, being the insertion of“amend this Section 5.02” as a new subsection (d) and the corresponding grammatical changes (the“RSU Amendment”), will expressly restrict Torex’s board of directors (the“Board”) from amending the amendment section of the RSU Plan. Although any amendment to the amendment section of the RSU Plan is currently subject to shareholder approval under the rules of the Toronto Stock Exchange (the“TSX”), the RSU Amendment addresses Proxy Advisory Firm’s concern that such rules could change in the future.

The RSU Amendment has been approved by the Board and, in accordance with the rules of the TSX, must be approved by shareholders at the Meeting in order to be effective. Accordingly, the RSU Amendment will be presented to shareholders at the Meeting as an addition to the resolution to approve all unallocated share units under the RSU Plan. Other than in respect of the RSU Amendment, management of the Company knows of no amendments, variations or other matters to come before the Meeting. For additional information about the Meeting, please refer to the management information circular dated May 7, 2025 in respect of the Meeting, which is available on SEDAR+ at and on the Company’s website at .

ABOUT TOREX GOLD RESOURCES INC.

Torex Gold Resources Inc. is an intermediate gold producer based in Canada, engaged in the exploration, development, and operation of its 100% owned Morelos Property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometres southwest of Mexico City.

The Company’s principal asset is the Morelos Complex, which includes the producing Media Luna Underground, ELG Underground, and ELG Open Pit mines, the development stage EPO Underground Project, a processing plant, and related infrastructure. Commercial production from the Morelos Complex commenced on April 1, 2016 and an updated Technical Report for the Morelos Complex was released in March 2022.

Torex’s key strategic objectives are: deliver Media Luna to full production and build EPO; optimize Morelos production and costs; grow reserves and resources; disciplined growth and capital allocation; retain and attract best industry talent; and industry leader in responsible mining. In addition to realizing the full potential of the Morelos Property, the Company is seeking opportunities to acquire assets that enable diversification and deliver value to shareholders.

FOR FURTHER INFORMATION, PLEASE CONTACT:

TOREX GOLD RESOURCES INC.

Jody Kuzenko
President and CEO
Direct: (647) 725-9982
…
Dan Rollins
Senior Vice President, Corporate Development & Investor Relations
Direct: (647) 260-1503
…

CAUTIONARY NOTES ON FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information also includes, but is not limited to, statements about: the RSU Amendment and it being presented to shareholders at the Meeting; and the Company’s key strategic objectives: deliver Media Luna to full production and build EPO; optimize Morelos production and costs; grow reserves and resources; disciplined growth and capital allocation; retain and attract best industry talent; and industry leader in responsible mining. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “objective”, “target”, “continue”, “potential”, “focus”, “demonstrate”, “belief” or variations of such words and phrases or statements that certain actions, events or results “will”, “would”, “could” or “is expected to” occur. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including, without limitation, risks and uncertainties associated with: the ability to upgrade mineral resources categories of mineral resources with greater confidence levels or to mineral reserves; risks associated with mineral reserve and mineral resource estimation; and those risk factors identified in the Company’s current technical report and the Company’s annual information form and management’s discussion and analysis or other unknown but potentially significant impacts. Forward-looking information is based on the assumptions discussed in the technical report and such other reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, whether as a result of new information or future events or otherwise, except as may be required by applicable securities laws. The Technical Report, AIF and MD&A are filed on SEDAR+ at and the Company’s website at .

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

SOURCE: Torex Gold Resources Inc.

MENAFN26052025004218003983ID1109595346

Canada’s main stock index edged lower on Friday, tracking global peers, amid renewed trade tensions sparked by U.S. President Donald Trump’s recommendation of 50% tariffs on European Union imports.

The Toronto Stock Exchange’s S&P/TSX composite index was down 0.13% at 25,821.36 points and set for its first weekly decline in seven weeks.

Global equities tumbled after Trump recommended tariffs on goods from the EU starting on June 1.

“It seems his (Trump) focus is turning towards the eurozone and less towards Canada now … Canadian indices are in positive territory on the year … so we’re doing quite well, relatively,” said Shiraz Ahmed, senior portfolio manager at Raymond James Ltd.

“The challenge is, it’s a very dynamic environment that continues to change on a daily basis,” he said.

On Thursday, the Republican-controlled U.S. House of Representatives passed a sweeping tax and spending bill, raising concerns about worsening fiscal outlook in the world’s biggest economy; the bill now heads to the Senate for approval.

Bank of Canada Governor Tiff Macklem said on Thursday that he expected second-quarter growth to be “quite a bit weaker” than the first quarter, and that it could be worse in subsequent quarters if the uncertainty around U.S. tariffs continued.

The central bank last month forecast annualized first-quarter GDP would be 1.8% but did not give any other projections, citing uncertainty over U.S. tariff policy.

Statistics Canada will release the first-quarter GDP data on May 30, a week before the central bank’s next interest rate decision.

On TSX, information and technology and healthcare stocks fell 1.1% and 1.2% respectively on Friday.

Metal miners’ shares gained 0.8% as gold prices rose 1%.

(MENAFN– Newsfile Corp)

Universal Digital and LongPoint enter into a partnership agreement to establish ETFs in Canada

Universal Digital and LongPoint have filed a preliminary prospectus seeking to list 2X leveraged single stock ETFs on Coinbase and MicroStrategy

Vancouver, British Columbia–(Newsfile Corp. – May 22, 2025) – Universal Digital Inc. (CSE: LFG) (FSE: 8R20) (the ” Company ” or ” Universal Digital “) is pleased to announce that it has entered into a partnership with LongPoint Asset Management Inc. (” LongPoint “) and filed a preliminary prospectus in connection with the proposed launch of two new leveraged exchange traded funds (the ” ETFs “). The proposed LFG Daily (2X) COIN Long ETF (the ” COIU ETF “) is designed to provide twice the daily performance of Coinbase Global Inc. (NASDAQ: COIN), and the proposed LFG Daily (2X) MSTR Long ETF (the ” MSTU ETF “) is designed to provide twice the daily performance of MicroStrategy Inc. (NASDAQ: MSTR). Both ETFs are proposed to be listed and traded in Canadian dollars.

The proposed ETFs are structured as alternative mutual funds and LongPoint will apply for the conditional listing approval of the ETFs on the Toronto Stock Exchange (the ” TSX “). The Company expects the COIU ETF to be listed under the ticker symbol “COIU” and the MSTU ETF to be listed under the ticker symbol “MSTU”.

The Company and LongPoint entered into a partnership agreement on 21 May 2025 to establish, operate and market Universal Digital branded ETF products in Canada. The Company has co-developed the ETFs with LongPoint and will act as a promoter and brand partner for the ETFs. LongPoint will serve as the investment fund manager and portfolio manager for the ETFs, leveraging its experience in ETF structuring, compliance, and operations.

The Company expects that the ETFs will be the first of their kind available for investors to purchase on a Canadian stock exchange. There is currently in excess of US$3.6 billion in assets invested in 2X long MSTR targeted ETFs in the U.S.A, and almost US$850 million in assets invested in 2X long COIN targeted ETFs in the U.S.A.

“We are proud to partner with LongPoint, an innovative ETF manager with a strong compliance and operational foundation,” said Tim Chan, Chief Executive Officer of Universal Digital. “Management of the Company believes these ETFs will offer Canadian investors unique access to amplified exposure of some of the most influential companies in the digital asset space and reflect our broader strategy to provide efficient investment vehicles that bridge traditional finance with Web3 innovation.”

“LongPoint is thrilled to be working with Universal Digital, with their expertise in digital assets, to develop the LFG ETFs and bring these novel products to the Canadian market. We know Canadians are actively using similar U.S. listed ETFs to trade these exposures, and once listed, these ETFs will provide an important option to add value for active Canadian investors,” said Steve Hawkins, CEO of LongPoint. “Working with Universal has also reinforced our belief regarding the benefits of our flexible ETF partnership platform, allowing our co-promoters to focus on their own areas of expertise while we oversee and administer the day-to-day operations of the ETFs.”

The preliminary prospectus dated May 20, 2025, containing important information relating to the ETFs, has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada. A copy of the preliminary prospectus is available on . Prospective investors cannot buy shares of the ETFs until the relevant securities commissions or similar authorities issue receipts for the final prospectus of the ETFs and the ETFs begin trading on the TSX.

About Universal Digital Inc.
Universal Digital Inc. is a Canadian investment company focused on digital assets, businesses and private and publicly listed entities that are involved in high-growth industries, with a particular focus on blockchain, cryptocurrencies and cryptocurrency technologies. The Company aims to provide shareholders with long-term capital growth through a diversified investment approach, and to participate in the transformation of global finance through the integration of digital asset strategies.

About LongPoint Asset Management Inc.
LongPoint delivers innovative ETF solutions designed to enhance the Canadian investing journey. With over 70 years of combined expertise in the ETF market, its dedicated team leverages deep industry connections and local insights to design, build and launch exceptional ETFs tailored for Canadian investors.

For further information contact:
Tim Chan
Chief Executive Officer and Director
Email: …
Phone: (289) 646-6252

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement regarding Forward Looking Information

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-Looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward-looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the launch of the ETFs; the structure and intended performance of the ETFs; the formation of the ETFs, including the designated names and ticker symbols of the ETFs; the listing of the ETFs on the TSX; the Company’s role in respect of the ETFs; the benefit of LongPoint and the Company’s involvement in the ETFs; and regulatory approvals of the ETFs.

These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: the Company and LongPoint may be unable to successfully launch the ETFs; the structure, formation and intended performance of the ETFs may differ from current expectations; the ETFs may not receive approval for listing on the TSX or other regulatory approvals; and the involvement of LongPoint and the Company in the ETFs may not provide the anticipated benefits.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company and LongPoint will proceed with the launch of the ETFs; the ETFs will be structured and formed as currently expected; the ETFs will operate under the anticipated names and ticker symbols of the ETFs; the ETFs will receive approval for listing on the TSX and other regulatory approvals; LongPoint and the Company’s knowledge and experience will add value to the formation and management of the ETFs.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

The ETFs are alternative mutual funds, and as such, the ETFs are permitted to invest in asset classes or use investment strategies that are not permitted for other types of mutual funds. The ETFs are highly speculative. The ETFs use a significant amount of leverage which magnifies gains and losses. They are intended for use in daily or short-term trading strategies by very knowledgeable, sophisticated investors. If you hold such an ETF for more than one day, your return could vary considerably from the ETF’s daily target return. The negative effect of compounding on returns is more pronounced when combined with leverage and daily rebalancing in volatile markets. The ETFs are not suitable for investors who do not intend to actively monitor and manage their investments.

The ETFs employ significant leverage, may experience amplified losses and should not be expected to return +200 of their daily target over any period of time other than daily. An investor in an LFG ETF could lose their entire investment within a single day if the market value of the respective common stock declines by 50% or more that day. The returns of the ETFs over periods longer than one day will likely differ in amount and possibly direction from their daily target for the same period. This effect is more pronounced for the ETFs as the volatility of the daily target and/or the period of time increases.

This material is for informational purposes only. This material is not intended to be relied upon as research, investment, or tax advice and is not an implied or express recommendation, offer or solicitation to buy or sell any security or to adopt any particular investment or portfolio strategy. Any views and opinions expressed do not take into account the particular investment objectives, needs, restrictions and circumstances of a specific investor and, thus, should not be used as the basis of any specific investment recommendation. Investors should consult a financial and/or tax advisor for financial and/or tax information applicable to their specific situation.

Commissions, management fees, performance fees and operating expenses may all be associated with an investment in the ETFs. The ETF are not guaranteed, their values change frequently, and past performance may not be repeated. The ETF Facts and prospectus contain important detailed information about the ETFs. Please read the relevant documents before investing.

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

SOURCE: Universal Digital Inc.

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