Category: Canada

American Rare Earths Limited (ASX: ARR | OTCQX: ARRNF)
American Rare Earths announced promising final assay results from their 2024 drilling at the Cowboy State Mine, Halleck Creek Project, revealing the highest Total Rare Earth Oxide (TREO) grades recorded. Key findings include multiple high-grade intersections, with the highest reaching 6,198 ppm TREO. This confirms Halleck Creek as a leading North American rare earth development. These results will aid in updating geological models and resource estimates, crucial for advancing the project towards pre-feasibility in 2025.

Barclays Plc (LSE: BARC)
Today, Barclays announced plans to establish a private banking booking center in Singapore by 2026. This move aims to leverage the region’s growing pool of ultra-high-net-worth individuals and global family offices.

Canaccord Genuity Group Inc. (TSX: CF)
Yesterday, Canaccord revealed its strategic review of its British wealth management operations, potentially leading to a sale or new investment. This review follows heightened regulatory scrutiny and rising operational costs in the UK.

Citigroup Inc. (NYSE: C):
Today, reports emerged that Citigroup is reducing its year-end promotions and limiting pay hikes to 15%. Separately, the bank filed a lawsuit against two former private bankers who joined a competitor, alleging misuse of confidential client information.

Exxon Mobil Corp. (NYSE: XOM)
At today’s Energy Intelligence Forum in London, Exxon noted that President-elect Trump’s proposed easing of land permits might temporarily boost production but emphasized the industry’s continued focus on capital discipline.

Global Uranium Corp. (CSE: GURN | OTCQB: GURFF)
Today, Global Uranium reported significant remediation progress at the Northwest Athabasca Joint Venture project. Groundwater assessments confirmed no contamination, reducing the site’s priority for further action. A winter drilling program is planned to target high-priority exploration zones.

Intel Corp. (NASDAQ: INTC)
Today, the U.S. Commerce Department finalized a $7.86 billion subsidy for Intel under the CHIPS Act to support domestic semiconductor manufacturing. Separately, Bloomberg reported waning interest from Qualcomm regarding Intel’s potential acquisition.

Manchester United Plc (NYSE: MANU)
Yesterday, Manchester United posted a smaller adjusted net loss for Q1 FY2025, citing cost reductions and favorable currency impacts. Revenue fell 9% to £143.1 million but aligned with fiscal 2025 projections.

NEO Battery Materials Ltd. (TSXV: NBM)
Yesterday, NEO Battery Materials Ltd. announced a webinar set for December 5, 2024, to discuss advancements in silicon anode technology, commercialization plans, partnerships, and strategies in the EV and battery markets.

Nord Precious Metals Mining Inc. (TSXV: NTH)
Yesterday, Nord Precious Metals announced plans to process high-grade silver tailings at Miller Creek under Ontario’s streamlined Recovery Permit framework. The initiative aligns with Ontario’s critical minerals strategy, leveraging new amendments to the Mining Act that eliminate closure plan requirements for tailings recovery. With demonstrated silver grades of up to 786,809 g/t in gravity concentrates and advanced gravity-flotation techniques achieving 70% recovery, Nord aims to unlock value from legacy mining sites while ensuring land remediation.

Panther Metals PLC (LSE: PALM)
Yesterday, Panther Metals announced the conversion of remaining loan notes worth £53,668 into 52,360 new ordinary shares priced at £1.025 each. These shares are slated for listing on the London Stock Exchange’s Main Market on November 28, 2024, at 8:00 a.m. Following this, the total issued share capital of Panther Metals will be 4,279,080 shares, with the same number of voting rights, none of which are held in treasury.

Poseida Therapeutics Inc. (NASDAQ: PSTX)
Today, Roche announced plans to acquire Poseida in a $1.5 billion deal, focusing on CAR-T cell therapies for blood cancers and autoimmune diseases. The acquisition is expected to close in Q1 2025.

UBS Group AG (SWX: UBSG)
Today, UBS’s Chinese joint venture partner plans to divest its 33% stake in UBS Securities, potentially allowing UBS to fully own the brokerage. The auction’s starting bid is $207.10 million.

Western Uranium & Vanadium Corp. (CSE: WUC | OTCQX: WSTRF)
Today, Western Uranium & Vanadium announced the appointment of Nathan Bishop as Lead Geologist, overseeing its drilling program at the Sunday Mine Complex (SMC). With nearly two decades of experience in copper mining and geophysics, Bishop will manage resource reporting, data validation, and expansion efforts. The company has adapted a new shift schedule and expanded its staff to accelerate development and resource expansion at the SMC.

Zoom Communications Inc. (NASDAQ: ZM)
Yesterday, Zoom raised its FY2025 revenue forecast to $4.65-$4.66 billion, anticipating demand for hybrid work solutions. The company also expanded its share repurchase program by $1.2 billion, reporting Q3 revenue of $1.18 billion.

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Investor.Coffee is published Monday through Thursday and reaches a global audience, delivering timely market insights and key company highlights. Stay informed with our in-depth coverage of North American and international markets.

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Publisher’s Note: Tracy Hughes uses a variety of sources for her daily market update series called Investor.Coffee. This series is intended to be a brief summary of daily market highlights that the Investor.News team finds interesting. This summary is meant to inspire research, investigation, and due diligence, and we encourage you to always seek licensed professional advice with any investment decision. While Tracy is a professional writer, she is not a licensed investment advisor. And yes, Tracy uses ChatGPT and other technology devices to help distill information and prioritize business data — while sipping her daily coffee! For more information email us [email protected].

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DMG Blockchain (NASDAQ: DMGGF), a Canadian BTC block reward miner, has announced the expansion of its operations following a fundraising campaign that netted the company $16 million.

DMG, which has a dual listing on the Toronto Stock Exchange and the Frankfurt Stock Exchange, channeled $5 million to purchase hydro miners from Bitmain. The miners have an efficiency of 15 J/TH, the company revealed in its press release.

“With our recent fundraising that added $16 million to DMG’s cash balance, we have immediately allocated approximately $7 million for the purchase of capital equipment to grow our business,” commented CEO Sheldon Bennett.

“We continue to seek the most effective ways to deploy this new capital to maximize return for shareholders.”

The latest investment comes from the purchase of 1 MW of hydro miners and six 1 MW containers, which the company expects to have fully installed by the end of this year. The newly ordered batch will then be installed by February 2025. Combined, the two batches will add 0.4 EH/s to the company’s hash rate. This will bring its total hash rate to 2.1 EH/s.

In addition to purchasing new miners, DMG will increase its investment in its subsidiary, which focuses on the custody of digital assets, to diversify its portfolio. Further, it plans to make investments in artificial intelligence (AI) infrastructure, following the playbook of every other BTC miner.

With AI being one of the most lucrative sectors in the tech world, many miners are either wholly pivoting from block reward mining to focus on AI—like Tether-backed Northern Data—or shifting some of the computing resources to serve AI companies, as Hive Digital (TSXV: HIVE | OTCQX: HVBTF | FSE: HBF) and Bitdeer (NASDAQ: BTDR) have done.

In DMG’s case, a recent partnership with the Malahat Nation is key to its AI ambitions. Malahat is an island region in British Columbia with a strong cultural identity.

The partnership, announced a month ago, aims to develop 30 MW of AI data centers on the island. In his comments, Bennett noted that the data centers are “not only advancing critical infrastructure but also empowering Indigenous communities to take a leading role in the future of technology.”

DMG won’t be the last BTC block reward miner to explore better fortunes with AI. The entire sector is built on the assumption that BTC will always rise since the cost of mining has outpaced the asset’s price in recent years. The miners have accumulated debt to increase their hash rate over the years as they stockpiled their BTC, waiting for the price to skyrocket so they could cash in. However, in the bear market, when creditors came calling, most miners could not cover their positions, and some industry giants like Core Scientific (NASDAQ: CORZW) had to file for bankruptcy.

Watch: Want to develop on BSV? Here’s how you can build with Mandala

DALLAS and TORONTO, Nov. 25, 2024 /PRNewswire/ — NexPoint Hospitality Trust (“NHT” or the “REIT“¹), (TSX-V: NHT.U) and NexPoint Diversified Real Estate Trust (NYSE: NXDT) (“NXDT“) today announced the execution of a definitive agreement (the “Merger Agreement“) on November 22, 2024, pursuant to which the REIT will be dissolved and its subsidiary entities merged with and into entities owned or controlled, directly or indirectly, by NXDT (the “Transaction“). Pursuant to the Transaction, each REIT unitholder (the “Unitholders“) will receive, for each trust unit of the REIT (a “Unit“), either US$0.36 cash per Unit or common shares of NXDT (the “NXDT Common Shares“) equal to the quotient of US$0.36 divided by the volume weighted average price of the NXDT Common Shares quoted on the New York Stock Exchange for the ten (10) trading days prior to closing of the Transaction. Subject to the satisfaction of all conditions precedent, the Transaction is expected to be completed in the first quarter of 2025. Upon closing of the Transaction, the REIT’s Units will be delisted from the TSX Venture Exchange (the “TSXV“). Raymond James Limited has entered into a voting and support agreement pursuant to which it has agreed to support and vote the Units it owns (beneficially or otherwise) or over which it exercises control or direction over, including on behalf of accounts over which it has discretionary authority, in favour of the Transaction.

Transaction Highlights

• The proposed price of US$0.36 per Unit represents a premium of approximately 2300% to the 30-day volume weighted average price per Unit on the TSXV ended November 22, 2024 of US$0.015;
• Unitholders who elect to receive cash for their Units will immediately realize a fair value for their investment and the payment in cash provides certainty of value for their Units;
• Unitholders who receive NXDT Common Shares will have the opportunity to participate in any increase in value of the REIT’s assets and the increase in value of the current assets of NXDT and are expected to have greater liquidity due to higher trading volumes in the NXDT Common Shares;
• The Transaction represents the best prospect for maximizing Unitholder value over the short to medium term given current and expected macroeconomic conditions in North America and their potential impact on the REIT;
• The REIT’s board of trustees (the “Board“), with James Dondero declaring his interest in the Transaction and abstaining, have approved the Transaction and recommend that Unitholders vote in favour of the Transaction; and
• Doane Grant Thornton LLP (“Doane Grant Thornton“), the Special Committee’s financial advisor, has provided a fairness opinion to the Special Committee that based upon and subject to the assumptions and limitations described in their opinion, the consideration to be received by Unitholders pursuant to the Transaction is fair, from a financial point of view, to such Unitholders.

Transaction Details

The Transaction is a “business combination” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“) as NXDT and its related entities, including entities controlled by James Dondero, own or exercise control or direction over approximately 82.86% of the outstanding Units of the REIT. Accordingly, the Transaction will be subject to the approval of at least (i) two-thirds (66 2/3%) of the votes cast by Unitholders present in person or represented by proxy at a special meeting of Unitholders (the “Meeting“) and (ii) the majority of Unitholders present in person or represented by proxy at the Meeting, excluding the votes of NXDT and James Dondero and affiliated entities, and any other Unitholders whose votes are required to be excluded for the purposes of “minority approval” under MI 61-101. Further details regarding the applicable voting requirements will be contained in a management information circular (the “Circular“) to be filed and mailed to Unitholders in connection with the Meeting to consider the approval of the Transaction. The Transaction is subject to other customary conditions, however, is not subject to a financing condition.

The Merger Agreement provides for, among other things, customary representations and warranties and non-solicitation covenants from the REIT, including “fiduciary out” provisions that allow the REIT to accept a superior proposal in certain circumstances and a five (5) business day “right to match period” in favour of NXDT. The Merger Agreement also provides for the payment of a termination fee of US$370,000 by the REIT or NXDT if the Transaction is terminated in certain specified circumstances.

The Merger Agreement will be available on the SEDAR+ website at www.sedarplus.ca within ten (10) days following the date of this press release.

Board of Trustees Recommendation and Fairness Opinion

The Board, with James Dondero declaring his interest in the Transaction and abstaining, after consultation with its financial and legal advisors, and on the recommendation of the Special Committee composed solely of independent trustees, has resolved to approve the Transaction and recommends that Unitholders vote in favour of the Transaction.

Doane Grant Thornton has provided a fairness opinion to the Special Committee that, based upon and subject to the assumptions and limitations described in their opinion, the consideration to be received by Unitholders pursuant to the Transaction is fair, from a financial point of view, to such holders.

Advisors

Goodmans LLP and BakerHostetler LLP are acting as legal counsel to the REIT and its subsidiaries. Winston & Strawn LLP is acting as legal counsel to NXDT and its subsidiaries. Doane Grant Thornton is acting as financial advisor to the Special Committee and has provided a fairness opinion. Goodmans is acting as legal counsel to the Special Committee.

NXDT Early Warning Disclosure

Prior to the Transaction, James Dondero, together with the persons and entities which are directly or indirectly controlled or deemed to be controlled by him including NXDT, beneficially owned or exercised control or direction over, 24,164,700 Units, representing an approximate 82.33% ownership interest in the REIT (81.75%, assuming conversion of all outstanding Class B units of the REIT’s operating partnership, NHT Operating Partnership, LLC (“Class B OP Units“)).

Assuming closing of the Transaction, James Dondero, together with the persons and entities which are directly or indirectly controlled or deemed to be controlled by him including NXDT, will beneficially own or exercise control or direction over, all of the outstanding Units and Class B OP Units.

About NHT

NexPoint Hospitality Trust is a publicly traded real estate investment trust, with its Units listed on the TSX Venture Exchange under the ticker NHT.U. NHT is focused on acquiring, owning and operating well-located real estate assets including, but not limited to, investments in life science and semiconductor manufacturing properties, but mainly focusing on hospitality properties in the United States that offer a high current yield and in many cases are underperforming assets with the potential to increase in value through investments in capital improvements, a market-based recovery, brand repositioning, revenue enhancements, operational improvements, expense inefficiencies, and exploiting excess land or underutilized space. NHT owns 7 branded properties sponsored by Marriott, Hilton and Hyatt, located across the U.S. NHT is externally advised by NexPoint Real Estate Advisors VI, L.P.

About NXDT

NexPoint Diversified Real Estate Trust (NYSE: NXDT) is an externally advised, publicly traded, diversified REIT focused on the acquisition, development, and management of opportunistic and value-add investments throughout the United States across multiple sectors where NexPoint and its affiliates have operational expertise. NXDT is externally advised by NexPoint Real Estate Advisors X, L.P. For more information, please visit nxdt.nexpoint.com.

Forward Looking Information

This news release includes forward-looking information within the meaning of applicable Canadian securities laws. In some cases, forward-looking information can be identified by the use of words such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “continue”, and by discussions of strategies that involve risks and uncertainties, certain of which are beyond the REIT’s and NXDT’s control. In this news release, forward-looking information includes, among other things, statements relating to expectations with respect to the timing and outcome of the Transaction and the anticipated benefits of the Transaction to the parties and their respective security holders. The forward-looking information is based on certain key expectations and assumptions made by each of the REIT and NXDT, including with respect to the structure of the Transaction and all other statements that are not historical facts. The timing and completion of the Transaction is subject to customary closing conditions, termination rights and other risks and uncertainties including, without limitation, required regulatory and unitholder approvals. Although management of each of the REIT and NXDT believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that any transaction, including the Transaction, will occur or that it will occur on the timetable or on the terms and conditions contemplated in this news release. The Transaction could be modified, restructured or terminated. Readers are cautioned not to place undue reliance on forward-looking information. Additional information on these and other factors that could affect the REIT are included in reports on file with Canadian securities regulatory authorities and may be accessed on the SEDAR+ website at www.sedarplus.ca. Additional factors that may affect NXDT’s business or financial results are described in the risk factors included in NXDT’s filings with the Securities and Exchange Commission (the “SEC“), including its Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

By its nature, such forward-looking information necessarily involves known and unknown risks and uncertainties that may cause actual results, performance, prospects and opportunities in future periods of the REIT and NXDT to differ materially from those expressed or implied by such forward-looking statements. Furthermore, the forward-looking statements contained in this news release are made as of the date of this news release and neither the REIT, nor NXDT, nor any other person assumes responsibility for the accuracy and completeness of any forward-looking information, and no one has any obligation to update or revise any forward-looking information, whether as a result of new information, future events or such other factors which affect this information, except as required by law.

No Offer or Solicitation

This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed transactions or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, the public offer will not be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by the use of the mails or by means or instrumentality of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction.

Additional Information and Where to Find It

This press release is being made in respect of the proposed transaction between NHT and NXDT. In connection with the proposed transaction, NXDT will file with the SEC a registration statement on Form S-4, which will include an information circular and prospectus, to register the NXDT Common Shares that will be issued to the Unitholders (the “Information Circular and Registration Statement“), as well as other relevant documents regarding the proposed transaction. INVESTORS ARE URGED TO READ IN THEIR ENTIRETY THE INFORMATION CIRCULAR AND REGISTRATION STATEMENT REGARDING THE TRANSACTION WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENT OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.

A free copy of the Information Circular and Registration Statement, as well as other filings containing information about NXDT, may be obtained at the SEC’s website (https://www.sec.gov). You will be able to obtain these documents, free of charge, from NXDT at https://nxdt.nexpoint.com or by emailing IR@nexpoint.com. 

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. 

Contact: 

Investor Relations

IR@nexpoint.com

Media Inquiries

MediaRelations@nexpoint.com

1398-4973-9792

^{__________________________________}

¹ In this release, “we,” “us,” “our,” “NHT,” and the “REIT,” each refer to NexPoint Hospitality Trust.

View original content to download multimedia:https://www.prnewswire.com/news-releases/nexpoint-hospitality-trust-to-be-acquired-by-nexpoint-diversified-real-estate-trust-302315443.html

SOURCE NexPoint Diversified Real Estate Trust

The appointment comes amid RioZim’s liquidity having shrunk by nearly 8% in its half-year performance for the period ended June 30, 2024, after losses widened by nearly 50% over the same period.

EMBATTLED miner, RioZim Limited’s (RioZim) has appointed Diedre Niehaus, as the head of its Legal, Human Resources and Administration with effect from July 1, 2024.

The appointment comes amid RioZim’s liquidity having shrunk by nearly 8% in its half-year performance for the period ended June 30, 2024, after losses widened by nearly 50% over the same period.

For the half-year period, RioZim recorded a loss of ZiG165,71 million, from a 2023 comparative of ZiG110,48 million.

The loss was attributed to a 27% decline in gold production for the period under review.

“The board of directors of RioZim Limited is pleased to announce the appointment of Ms Diedre Niehaus, as the Head of Legal, Human Resources and Administration with effect from the 1st July 2024,” RioZim said, in a statement on Monday.

“Ms Niehaus is a seasoned Legal Counsel who holds BComm (Law) and B-Proc LLB degrees (R.A.U) and is studying towards completing her LLM in International Trade and Investment Law. She has been engaged in the African mining/resources and oil & gas/energy sectors for the past 22 years, specialising in mining law, energy law, oil & gas law, general commercial law, mergers & acquisitions, and cross-border transactions.”

The last appointment by the board came last month when Srilatha Cherukuri was appointed as a non-executive director with effect from August 1, 2024.

Cherukuri is a registered chartered accountant with the Institute of Chartered Accountants of India and holds a Master of Commerce from Osmania University, Hyderabad.

Cherukuri has over 28 years of post-qualification experience specialising in audit, retail, airport, PPP, commercial real estate, and infrastructure with reputed companies.

RioZim said Niehaus has also worked as a transaction advisor in various jurisdictions throughout Africa, involving virtually all precious and base metals, heavy minerals, industrial minerals and the oil and gas sectors.

“She has held senior legal counsel and executive positions for resources companies listed on the AIM Market of London Stock Exchange and advised various international companies (NYSE, LSE, ASX, TSX and AIM listed) on the structuring of M&A transactions, tax issues, corporate, structured and project finance and cross-border transactions in the mining and oil & gas industry in Africa and the Middle East,” RioZim said.

“Diedre has served on the EXCO team of several mining houses such as Namakwa Diamonds, AREVA Resources (now Orano), AREVA Exploration Central Africa and Uranium One.”

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Groupe Dynamite Inc. says it has closed its initial public offering.

The Montreal-based firm behind the Garage and Dynamite retailers says the offering wound up oversubscribed.

As part of the offering, shareholders controlled by CEO Andrew Lutfy sold more than 14.3 million subordinate voting shares for $21 each, giving them aggregate gross proceeds of about $300 million.

The company’s shares closed at $20.32 on the Toronto Stock Exchange on Monday.

A syndicate of underwriters led by Goldman Sachs Canada, BMO Nesbitt Burns, RBC Dominion Securities and TD Securities were granted an overallotment option allowing them to purchase another 2.1 million in shares.

If the option is exercised, it will result in another $45 million in gross proceeds.

The underwriters have 30 days to decide whether to make use of the option.

Groupe Dynamite says the IPO was the first in Quebec in nearly three years and the first Canada has seen in the last year.

This report by The Canadian Press was first published Nov. 26, 2024.

Companies in this story: (TSX:GRGD)

Tara Deschamps, The Canadian Press