Category: Canada

(MENAFN– Newsfile Corp)
Toronto, Ontario–(Newsfile Corp. – May 27, 2025) – Cathedra Bitcoin Inc. (TSXV: CBIT) (OTCQB: CBTTF) (the ” Company ” or ” Cathedra “), a bitcoin company that develops and operates digital infrastructure assets with the goal of maximizing its per-share bitcoin holdings, is pleased is to announce the following conference appearances in the month of May.

Consensus 2025 (Toronto)

Earlier in the month of May, Cathedra President & COO Drew Armstrong spoke on panels at CoinDesk’s Consensus conference in Toronto on both Artificial Intelligence and High Performance Compute Strategies for Bitcoin Miners as well as Financing and Treasury Strategies . Recordings of the panels can be found online at .

Bitcoin 2025 (Las Vegas)

This week, on May 28^th, Drew Armstrong will be speaking again on a panel discussing Treasury Management at Bitcoin Magazine’s Bitcoin 2025 conference in Las Vegas at 11:30am local time. Any live webcasts and replays of the presentations will be shared on the Cathedra website at cathedra/news/events and on Twitter @CathedraBitcoin .

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 52.3 bitcoin worth approximately US$5.8 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, including statements about the closing of the sale of the Company’s minority interest in the 60-megawatt data center in North Dakota and the timing thereof are forward-looking information. Forward-looking information contained in this news release includes but is not limited to the goal of maximizing its per-share bitcoin holdings. 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: changes in the Company’s relationships, including with regulatory bodies, employees, customers and competitors; 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; the risks and uncertainties associated with foreign markets; the construction and operation of new facilities may not occur as currently planned, or at all; expansion of existing facilities may not materialize as currently anticipated, or at all; new miners may not perform up to expectations; revenue may not increase as currently anticipated, or at all; the ongoing ability to successfully mine Bitcoin is not assured; failure of the equipment upgrades to be installed and operated as planned; the availability of additional power may not occur as currently planned, or at all; risks associated with the completion of the sale of the Company’s minority interest in the 60-megawatt data center in North Dakota, including the inability to close such sale on contemplated terms, or at all; and the power purchase agreements and economics thereof may not be as advantageous as expected. Additionally, the forward-looking statements contained herein may be affected by risks and uncertainties in the business of Cathedra and general market conditions. For further information concerning these risks and uncertainties and other risks and uncertainties, please see the Company’s filings under the Company’s SEDAR+ profile on , including but not limited to the Company’s management information circular dated June 18, 2024 and the Company’s most recent interim and annual management discussion and analysis. 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 from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended and such changes could be material, including factors that are currently unknown to or deemed immaterial by the Company. 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.

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

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

SOURCE: Cathedra Bitcoin Inc.

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OTTAWA — InterRent Real Estate Investment Trust has signed a deal to be acquired by a group including executive chair Mike McGahan and Singapore sovereign wealth fund GIC for about $2 billion.

Under the agreement, CLV Group and GIC will pay InterRent unitholders $13.55 per unit in cash. The transaction is valued at a total of about $4 billion including the assumption of net debt.

InterRent units were up almost 15 per cent at $13.58 in midday trading on the Toronto Stock Exchange on Tuesday.

In addition to his role at InterRent, which owns residential properties in B.C., Ontario and Quebec, McGahan is the chief executive and controlling shareholder of CLV Group.

The deal requires approval of a two-thirds majority vote by unitholders as well as a majority vote by unitholders, excluding CLV Group, its affiliates and any other unitholders required to be excluded.

It also requires court and regulatory approvals, consents and approvals from Canada Mortgage and Housing Corp. and certain existing lenders and the satisfaction of other customary closing conditions.

The agreement includes a “go-shop period” lasting from Wednesday until July 6, during which InterRent can try and attract better offers.

“We are pleased to provide immediate and certain premium value to our unitholders through this all-cash transaction with CLV Group and GIC, while also allowing InterRent to solicit superior proposals through a go-shop period of 40 days,” said Brad Cutsey, InterRent’s CEO and trustee.

Toronto-based activist hedge fund Anson Funds became the largest investor in InterRent earlier this year with a nine per cent stake.

“While we are pleased to see the InterRent board take a concrete step toward closing its valuation discount, we will see how the go-shop process unfolds as we believe there is potential for more value to be realized,” Anson said in a statement after the acquisition was announced Tuesday.

This report by The Canadian Press was first published May 27, 2025.

Companies in this story: (TSX:IIP.UN)

The Canadian Press

OTTAWA — InterRent Real Estate Investment Trust has signed a deal to be acquired by a group including executive chair Mike McGahan and Singapore sovereign wealth fund GIC for about $2 billion.

Under the agreement, CLV Group and GIC will pay InterRent unitholders $13.55 per unit in cash. The transaction is valued at a total of about $4 billion including the assumption of net debt.

InterRent units were up $1.80 at $13.64 in trading on the Toronto Stock Exchange on Tuesday.

In addition to his role at InterRent, which owns residential properties in B.C., Ontario and Quebec, McGahan is the chief executive and controlling shareholder of CLV Group.

The deal requires approval of a two-thirds majority vote by unitholders as well as a majority vote by unitholders, excluding CLV Group, its affiliates and any other unitholders required to be excluded.

It also requires court and regulatory approvals, consents and approvals from Canada Mortgage and Housing Corp. and certain existing lenders and the satisfaction of other customary closing conditions.

This report by The Canadian Press was first published May 27, 2025.

Companies in this story: (TSX:IIP.UN)

The Canadian Press

(MENAFN– Newsfile Corp)
Vancouver, British Columbia–(Newsfile Corp. – May 26, 2025) – Altura Energy Corp. (TSXV: ALTU) (FSE: Y020) (the ” Company “) is pleased to announce that the Company and Haywood Securities Inc. (the ” Agent “), as sole agent and bookrunner, have agreed to increase the size of its previously announced commercially reasonable efforts brokered private placement from $1,500,000 to $1,985,500 (the ” Offering “). Under the upsized Offering, up to 19,855,000 units of the Company (the ” Units “) are to be issued at a price of $0.10 per Unit for gross proceeds to the Company of up to $1,985,500.

Each Unit will consist of one common share of the Company (a ” Common Share “) and one Common Share purchase warrant (a ” Warrant “). Each Warrant will entitle the holder thereof to purchase one Common Share (a ” Warrant Share “) at an exercise price of $0.25 at any time up to sixty months following the Closing Date (as defined herein). In the event that the closing price of the Common Shares on the TSX Venture Exchange (or such other stock exchange the Common Shares may be listed on from time to time) is equal to or greater than $0.75 for a period of twenty consecutive trading days (the ” Acceleration Event “), the Company may, within five trading days following the Acceleration Event, upon issuing a news release, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such news release.

The Units to be issued under the Offering will be offered by way of private placement pursuant to applicable exemptions from the prospectus requirements in each of the provinces of Canada, and in jurisdictions outside of Canada, excluding the United States, mutually agreed by the Company and the Agent, provided that no prospectus filing, registration or comparable obligation arises in such other jurisdiction.

The Offering is expected to close on or around June 11, 2025 or such other date as agreed upon between the Company and the Agent (the ” Closing Date “) and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The securities to be issued under the Offering will have a hold period of four months and one day from the Closing Date in accordance with applicable securities laws.

The net proceeds from the Offering will be utilized by the Company to repay existing indebtedness and for working capital and general corporate purposes.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

ABOUT ALTURA ENERGY CORP.

Altura Energy Corp. is an exploration and production company with interests in the prolific Holbrook basin of Arizona. For more information, please visit SEDAR+ ( ).

FOR FURTHER INFORMATION

Robert Johnston
CEO & Director
+1 604-609-6110

Forward Looking Statements

Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements”. Forward-looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.

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

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

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

SOURCE: Altura Energy Corp.

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The United States Department of Justice has quietly ended an investigation into Bombardier Aerospace selling CRJ1000ERs to Garuda Indonesia (GA, Jakarta Soekarno-Hatta) earlier last decade.

In a May 1, 2025, Toronto Stock Exchange filing, the aircraft manufacturer said it had received notification from the DOJ on April 1 that it had closed its investigation into that matter and a separate Azerbaijani railway equipment deal. The Garuda investigation had been underway since early 2020.

Between 2012 and 2015, Garuda Indonesia acquired eighteen CRJs via a corrupt procurement process that ultimately saw a former Garuda CEO and others charged and convicted in Indonesian courts. The misconduct extended beyond the Bombardier order, also ensnaring Airbus and Rolls-Royce.

“No charges were laid against the corporation or any of its directors, officers or employees,” the filing notes. Bombardier also initiated an internal investigation, which appears to be ongoing. The company did not respond to a request for comment.

Various US government departments have dropped several investigations in recent months, including a chronic-delays lawsuit against Southwest Airlines (WN, Dallas Love Field) kickstarted by former Secretary of Transportation Pete Buttigieg. A DOJ lawsuit against Boeing stemming from the B737 MAX crashes of 2018-19 is also likely to be settled out of court in the coming weeks.

This week’s first Market Factors outlines why inflation pressure would be so damaging to U.S. stocks, and later describes an upcoming smartphone killer device from former Apple design chief Jony Ive. The diversion covers a new study showing that people who grew up poor are treated as more trustworthy, and we’ll look ahead to important data announcements for the coming week.

Stocks

U.S. equities highly sensitive to rising rates

Apollo Global Management chief economist Torsten Slok observed Friday that the Magnificent Seven group of stocks were fueled by low interest rates. For evidence, his Exhibit A was that these companies stopped hiring as soon as rates started to climb.

The observation might seem banal at first glance because all stocks benefit from lower interest rates but it has important ramifications. The Mag Seven stocks are particularly sensitive to higher interest rates because they are growth stocks and thus long duration – the bulk of portfolio returns comes later as higher profit growth compounds investment gains. Dividend stocks, for instance, are short duration because the regular payouts puts more of the investment returns in portfolios sooner.

Mr. Slok believes tariffs, deglobalization and demographics are all inflationary and will put continual upwards pressure on interest rates. I would add concerns regarding U.S. federal finances, which are being blamed for sending the 30-year U.S. bond yield to an 18-year high.

The Magnificent Seven stocks are still 30 per cent of the S&P 500’s market capitalization and they will continue to drive the broader benchmark’s returns. Mr. Slok’s argument implies that the longer inflation pressure remains, the lower the returns for the seven stocks, and by extension the broader U.S. equity market, will be.

Valuation levels in the U.S. market aren’t ridiculous like 1999 but they are high relative to history. BofA Securities chief U.S. quantitative strategist Savita Subramanian’s work suggests that valuations imply that a decade of mediocre returns will begin at some point in the coming years (even if she also believes that higher valuations are justified in part by the improved profitability of modern businesses, but let’s not get sidetracked).

So where are we left? Continued inflation pressure and higher interest rates will limit U.S. equity returns and suggest that a longer period of weaker returns has begun. Domestic stocks will look more attractive by contrast.

Stocks

Another new gadget interests me

I’m interested in the new AI consumer device being developed by Jobs-era Apple design chief Jony Ive and OpenAI’s Sam Altman, even if I think the probability of it becoming a smartphone killer are in the single digits. Mr. Altman is reaching to create “the largest disruption to tech hardware since the 2007 launch of the iPhone.”

Asia-based tech industry insider Ming-Chi Kuo combed his sources in search of details on the device, which is expected to enter production in 2027. The device will be sensitive to its surroundings with cameras and microphones but have no screen. It will look a bit like an iPod Shuffle and is designed to be worn around the neck.

I thought Alexa and voice commands were going to take over the world a decade ago – I’m still waiting for a voice-controlled Excel – so maybe take my interest with a grain of salt. Still, I’m curious.

Diversions

Lower income households and trustworthiness

A new study published in the Journal of Personality and Social Psychology found that people trust those who grew up with less money over those that did. The study was detailed on the phys.org website.

The study featured 1,900 participants and multiple experiments. One trial involved participants gauging the trustworthiness of fictional profiles. Another involved a raffle where the subjects had to choose a trustee to hold the tickets.

The clear conclusion is that on average, people believe that those growing up in lower income households are more moral and trustworthy.

The essentials

Looking for our updates on market movers, analyst actions, stock technicals, insider trades and other daily, weekly and monthly insight? Click here to visit our Inside the Market page.

Globe Investor highlights

Hydro One is a hot stock. Too hot, argues David Berman. Meanwhile, David tries to answer the burning question, why even bother investing in telecom stocks?

Brian Belski, the chief investment strategist from BMO, thinks the days of TSX outperformance are over

Tim Shufelt reports on how Donald Trump triggered an exodus of foreign money from Canadian stocks

This Number Cruncher went looking for dependable dividend stocks that helped the CPP bolster its returns

Ken Fisher explains what’s behind the yield curve’s quiet re-steepening and the investment opportunities it presents

John Heinzl on the power dividend benefit nobody talks about

Tom Bradley looks at reasons why a stock might not perform as hoped

What’s up next

Domestic quarterly GDP for April will be released on May 30, the last major data point before the Bank of Canada makes its decision on interest rates, and economists expect a 0.1 per cent month over month expansion. Next Monday will see the release of the S&P Global Canada manufacturing PMI survey for May.

For earnings it’s all banks, all the time. Bank of Nova Scotia reports on Tuesday (average forecast is $1.556 per share on a pro forma) followed by National Bank ($2.402) and Bank of Montreal ($2.535) on Wednesday. On Thursday, CIBC ($1.885) and Royal Bank (3.196) announce profits.

In the U.S., a preliminary look at durable goods orders for April will be released on Tuesday where economists expect a sharp 8.7 per cent month-over-month decline. A loss of 0.3 per cent month over month is expected when annualized GDP for the first quarter is out on Thursday. Personal Income (0.3 per cent month over month gain for April predicted) and Personal Spending (0.2 per cent) will be reported Friday. ISM manufacturing and ISM manufacturing new orders will be released next Monday.

Nvidia Corp. headlines U.S. earnings reporting when it comes out on Wednesday (US$0.88 per share expected) along with Salesforce Inc. (US$2.549). Costco Wholesale Corp (US$4.238) profits will be announced on Thursday as will Dell Technologies Inc. (US$1.685).

See our full economic and earnings calendar here (You can bookmark the page – it gets updated weekly)

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.

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