Breaking
Retirement Daily Reporting
Author

admin

Browsing
Editor's pick

Video game maker Electronic Arts to be acquired for $52.5 billion

Editor's pick 4 Mins Read

Electronic Arts, maker of video games like “Madden NFL,” “Battlefield,” and “The Sims,” is being acquired for $52.5 billion in what could become the largest-ever buyout funded by private-equity firms.

The private equity firm Silver Lake Partners, Saudi Arabia’s sovereign wealth fund PIF, and Affinity Partners will pay EA’s stockholders $210 per share. Affinity Partners is run by President Donald Trump’s son-in-law, Jared Kushner.

PIF, which was already the largest insider stakeholder in Electronic Arts, will be rolling over its existing 9.9% stake in the company.

The commitment to the massive deal is inline with recent activity by Saudi Arabia’s sovereign wealth fund, wrote Andrew Marok of Raymond James.

“The Saudi PIF has been a very active player in the video gaming market since 2022, taking minority stakes in most scaled public video gaming publishers, and also outright purchases of companies like ESL, FACEIT, and Scopely,” he wrote. “The PIF has made its intentions to scale its gaming arm, Savvy Gaming Group, clear, and the EA deal would represent the biggest such move to date by some distance.”

Electronic Arts would be taken private and its headquarters will remain in Redwood City, California.

The total value of the deal eclipses the $32 billion price paid to take Texas utility TXU private in 2007.

If the transaction closes as anticipated, it will end EA’s 36-year history as a publicly traded company that began with its shares ending its first day of trading at a split-adjusted 52 cents.

The IPO came seven years after EA was founded by former Apple employee William “Trip” Hawkins, who began playing analog versions of baseball and football made by “Strat-O-Matic” as a teenager during the 1960s.

CEO Andrew Wilson has led the company since 2013 and he will remain in that role, the firms said Monday.

“Electronic Arts is an extraordinary company with a world-class management team and a bold vision for the future,” said Kushner, who serves as CEO of Affinity Partners. “I’ve admired their ability to create iconic, lasting experiences, and as someone who grew up playing their games — and now enjoys them with his kids — I couldn’t be more excited about what’s ahead.”

This marks the second high-profile deal involving Silver Lake and a technology company with a legion of loyal fans in recent weeks. Silver Lake is also part of a newly formed joint venture spearheaded by Oracle involved in a deal to take over the U.S. oversight of TikTok’s social video platform, although all the details of that complex transaction haven’t been divulged yet.

Silver Lake has also previously bought out two other well-known technology companies, the now-defunct video calling service Skype in a $1.9 billion deal completed in 2009, and a $24.9 billion buyout of personal computer maker Dell in 2013. After Dell restructured its operations as a private company, it returned to the stock market with publicly traded shares in 2018.

By going private, EA will be able to reprogram its operations without being subjected to the investment pressures and scrutiny that sometimes compel publicly held companies to make short-sighted decisions aimed at meeting quarterly financial targets. Although its video games still have a fervent following, EA’s annual revenues have been stagnant during the past three fiscal years, hovering from $7.4 billion to $7.6 billion.

Meanwhile, one of its biggest rivals Activision Blizzard was snapped up by technology powerhouse Microsoft for nearly $69 billion in 2023, while the competition from mobile video game makers such as Epic Games has intensified.

After being taken private, formerly public companies often undergo extensive cost-cutting that includes layoffs, although there has been no indication that will be the case with EA. After jettisoning about 5% of its workforce in 2024, EA ended March with 14,500 employees and then laid off several hundred people in May.

The deal is expected to close in the first quarter of 2027. It still needs approval from EA shareholders.

EA’s stock rose more than 5% before the opening bell.

This post appeared first on NBC NEWS

Keep Reading
Editor's pick

Charlie Javice sentenced to 7 years in prison for fraudulent $175M sale of aid startup

Editor's pick 4 Mins Read

Charlie Javice, the founder of a startup company that sought to dramatically improve how students apply for financial aid, was sentenced Monday to more than seven years in prison for cheating JPMorgan Chase out of $175 million by greatly exaggerating how many students it served.

Javice, 33, was sentenced in Manhattan federal court for her March conviction by Judge Alvin K. Hellerstein, who said she committed “a large fraud” by duping the bank giant in the summer of 2021. She made false records that made it seem the company, called Frank, had over 4 million customers when it had fewer than 300,000, Hellerstein found.

The judge said Javice had assembled a “very powerful list” of her charitable acts, which included organizing soup kitchens for the homeless when she was 7 years old and designing career programs for formerly incarcerated women.

In court papers, defense lawyers noted that Javice has faced extraordinary public scrutiny, reputational destruction and professional exile, “making her a household name” in the same way Elizabeth Holmes became synonymous with her blood-testing company, Theranos.

Defense attorney Ronald Sullivan told Hellerstein that his client was very different from Holmes because what she created actually worked, unlike Holmes, “who did not have a real company” and whose product “in fact endangered patients.”

In seeking a 12-year prison sentence for Javice, prosecutors cited a 2022 text Javice sent to a colleague in which she called it “ridiculous” that Holmes got over 11 years in prison.

Hellerstein largely dismissed arguments that he should be lenient because the acquisition pitted “a 28-year-old versus 300 investment bankers from the largest bank in the world,” as Sullivan put it.

Still, the judge criticized the bank, saying “they have a lot to blame themselves” after failing to do adequate due diligence. He quickly added, though, that he was “punishing her conduct and not JPMorgan’s stupidity.”

Sullivan said the bank rushed its negotiations because it feared another bank would acquire Frank first.

A prosecutor, Micah Fergenson, though, said JPMorgan “didn’t get a functioning business” in exchange for its investment. “They acquired a crime scene.”

Fergenson said Javice was driven by greed when she saw that she could pocket $29 million from the sale of her company.

“Ms. Javice had it dangling in front of her and she lied to get it,” he said.

Given a chance to speak, Javice said she was “haunted that my failure has transformed something meaningful into something infamous.” She said she “made a choice that I will spend my entire life regretting.”

Javice, sometimes speaking through tears, apologized and sought forgiveness from “all the people touched or tarnished by my actions,” including JPMorgan shareholders, Frank employees and investors, along with her family.

Javice, who lives in Florida, has been free on $2 million bail since her 2023 arrest.

At trial, Javice, a graduate of the University of Pennsylvania’s Wharton School of Business, was convicted of conspiracy, bank fraud and wire fraud charges. Her lawyers had argued that JPMorgan went after Javice because it had buyer’s remorse.

In her mid-20s, Javice founded Frank, a company with software that promised to simplify the arduous process of filling out the Free Application for Federal Student Aid, a complex government form used by students to apply for aid for college or graduate school.

Frank’s backers included venture capitalist Michael Eisenberg. The company said its offering, akin to online tax preparation software, could help students maximize financial aid while making the application process less painful.

The company promoted itself as a way for financially needy students to obtain more aid faster, in return for a few hundred dollars in fees. Javice appeared regularly on cable news programs to boost Frank’s profile, once appearing on Forbes’ “30 Under 30” list before JPMorgan bought the startup in 2021.

Javice was among a number of young tech executives who vaulted to fame with supposedly disruptive or transformative companies, only to see them collapse amid questions about whether they had engaged in puffery and fraud while dealing with investors.

In their pre-sentence submission, prosecutors wrote that they were requesting a lengthy prison sentence to send a message that fraud in the sale of startup companies is “no less blameworthy than other types of fraud and will be punished accordingly.”

Prosecutors added that the message was “desperately needed” because of “an alarming trend of founders and executives of small startup companies engaging in fraud, including making misrepresentations about their companies’ core products or services, in order to make their companies attractive targets for investors and/or buyers.”

This post appeared first on NBC NEWS

Keep Reading
Investing

Locksley Resources: High-grade Antimony & Rare Earths Prospects for US Critical Minerals Play

Investing 2 Mins Read

Locksley Resources (ASX:LKY,OTCQB:LKYRF,FSE:X5L) is a US-focused critical minerals company advancing high-grade rare earth elements (REEs) and antimony at its flagship Mojave project in California. Located just 1.4 kilometers from Mountain Pass — North America’s only producing REE mine — Locksley is strategically positioned to support the U.S. drive to onshore critical mineral supply chains, reduce dependence on China, and secure essential inputs for defense, clean energy, and advanced technologies.

The Mojave Project, Locksley’s flagship asset, is among the most strategically located critical minerals projects in the US Spanning 491 claims adjacent to MP Materials’ world-class Mountain Pass mine, Mojave offers Tier-1 infrastructure with highway access and proximity to Las Vegas. Drilling permits for REE and antimony targets are approved, and the 2025 exploration program is fully funded.

Company Highlights

  • US-focused Critical Minerals Strategy: Targeting antimony and rare earths, both on the US critical minerals list, at the Mojave project in California, within a federally prioritized supply chain hub.
  • Tier-1 Location: Just 1.4 km from the Mountain Pass mine, the only REE producer in the US, with highway access, infrastructure and proximity to major defense and technology industries.
  • Drill-ready and Fully Funded: Approvals secured for both antimony and REE drilling programs, with initial campaigns set for 2025.
  • Downstream Innovation: Partnership with Rice University to advance DeepSolv solvent-based processing technology for antimony and investigate applications in next-generation energy storage.
  • Government and Institutional Pathways: Positioned to benefit from US policies, Department of Defense initiatives, EXIM Bank financing and Department of Energy funding.

This Locksley Resources profile is part of a paid investor education campaign.*

Click here to connect with Locksley Resources (ASX:LKY,OTCQB:LKYRF,FSE:X5L) to receive an Investor Presentation

This post appeared first on investingnews.com

Keep Reading
Investing

Golconda Gold: Advancing Gold Production in Tier 1 Gold Jurisdictions in South Africa and the US

Investing 2 Mins Read

Golconda Gold (TSXV:GG) is a growth-focused junior producer with operations in prolific gold districts in South Africa and the US. Positioned as one of the sector’s highest-torque opportunities, Golconda offers investors profitable production, exposure to both gold and silver, and a disciplined, capital-efficient path to meaningful growth.

Golconda Gold is anchored by two cornerstone assets: Galaxy, its cash-flowing South African gold mine, and Summit, a high-grade silver-gold project in New Mexico set for restart. Together, they provide self-funded growth, U.S. exposure, and strong leverage to rising gold prices.

Galaxy, Golconda’s cornerstone asset, is a producing mine in South Africa’s prolific Barberton Greenstone Belt. The operation hosts 941,000 oz gold (M&I, 2.79 g/t) and 1.37 Moz inferred (2.62 g/t), supported by strong infrastructure and access to skilled mining services.

Company Highlights

  • Significant Production Growth: On track to triple production over three years at Galaxy while bringing Summit online in Q2 2026.
  • Summit Restart and Spin-out: Fully permitted past-producing mine in New Mexico, expected to restart in Q2 2026 and spin out as a standalone US-focused gold-silver producer in Q4 2026.
  • No Dilution Strategy: Growth funded through operating cash flow rather than equity raises, ensuring torque to gold without shareholder dilution.
  • Insider Alignment: Management and insiders control more than 40 percent of shares, aligning leadership directly with shareholder interests.
  • Jurisdictional Strengths: Operations in South Africa’s Barberton Greenstone Belt (long history of gold mining, strong infrastructure) and in the US southwest.
  • Exploration Upside: Both Galaxy and Summit hold substantial untested upside with additional ore bodies and underexplored zones.

This Goldconda Gold profile is part of a paid investor education campaign.*

Click here to connect with Goldconda Gold (TSXV:GG) to receive an Investor Presentation

This post appeared first on investingnews.com

Keep Reading
Investing

Copper Quest Exploration: Unlocking District-scale Copper Porphyry Systems in North America

Investing 2 Mins Read

Copper Quest Exploration (CSE:CQX, OTCQB:IMIMF, FRA:3MX) is focused on creating shareholder value through the exploration and development of its North American critical mineral portfolio, with more than 40,000 hectares across tier-one jurisdictions in Canada and the US.

In British Columbia, the company’s assets include the Stars copper-molybdenum discovery in the Bulkley Porphyry Belt, the Stellar property with historic showings and new anomalies, an earn-in on the Rip project, a large porphyry copper-molybdenum system, and the Thane Project in the Toodoggone Belt, prospective for copper-gold-molybdenum.

The Stars project is a 9,694-hectare, road-accessible copper-molybdenum property in the prolific Bulkley Porphyry Belt, home to past producers such as Imperial Metals’ Huckleberry mine and Newmont’s Equity Silver Mine. Stars is defined by a 5 × 2.5 km annular magnetic anomaly coincident with a mineralized monzonite intrusion. Drilling in 2018 confirmed a significant porphyry system at the Tana Zone, highlighted by intercepts of 0.466 percent copper over 195.1 meters from 23 meters, including 40 meters averaging nearly 1 percent copper, and 0.20 percent copper over 396.7 meters from 28 meters. All holes to date have returned copper levels well above background, with alteration, intrusive textures, and veining typical of productive porphyry systems.

Company Highlights

  • Large, Tier-one Land Position: More than 40,000 hectares across British Columbia’s Bulkley and Toodoggone Porphyry Belts, plus a newly acquired copper-gold porphyry project in Idaho, USA.
  • Flagship Discovery at Stars: Drill intercepts of 0.466 percent copper over 195.1 m confirm a fertile porphyry copper-molybdenum system with over 30 km of untested intrusive contacts.
  • Multiple Copper Systems: Canadian portfolio includes Stars, Stellar, Rip (earn-in up to 80 percent) and Thane, each offering district-scale potential in proven belts.
  • Idaho Acquisition: The Nekash copper-gold porphyry project in Lemhi County, Idaho, is a milestone acquisition aligned with its strategy to build a portfolio of highly prospective copper assets across North America.

This Copper Quest Exploration profile is part of a paid investor education campaign.*

Click here to connect with Copper Quest Exploration (CSE:CQX) to receive an Investor Presentation

This post appeared first on investingnews.com

Keep Reading
Investing

Golconda Gold

Investing 6 Mins Read

Investor Insight

With a growth-oriented strategy, Golconda Gold is positioning itself as one of the highest-torque junior gold producers in the sector with assets in prolific gold districts in South Africa and the US. For investors bullish on gold, Golconda is a unique opportunity: a profitable producer with meaningful growth ahead, exposure to both gold and silver, and the discipline to deliver shareholder value in a capital-efficient way.

Overview

Golconda Gold (TSXV:GG;OTCQB:GGGOF) is an unhedged gold producer and explorer with operations in South Africa and the United States. The company is focused on optimizing its current mining and processing operations, reducing costs, and growing organically while pursuing accretive acquisition opportunities.

Its growth story is underpinned by two cornerstone assets: Galaxy Gold, the company’s cash-flowing, long-life South African operation; and Summit, a high-grade silver-gold project in New Mexico poised for a restart. Galaxy provides a steadily growing, self-funded production base, while Summit is positioned as the next major catalyst for Golconda, broadening investor exposure to silver and US operations. These assets enable Golconda to deliver meaningful production growth without dilution, providing investors direct leverage to gold prices at a time when juniors remain undervalued relative to commodity prices.

With strong insider ownership and a disciplined approach to capital, Golconda offers investors a unique combination of operating stability, near-term growth and upside exploration potential.

Company Highlights

  • Significant Production Growth: On track to triple production over three years at Galaxy while bringing Summit online in Q2 2026.
  • Summit Restart and Spin-out: Fully permitted past-producing mine in New Mexico, expected to restart in Q2 2026 and spin out as a standalone US-focused gold-silver producer in Q4 2026.
  • No Dilution Strategy: Growth funded through operating cash flow rather than equity raises, ensuring torque to gold without shareholder dilution.
  • Insider Alignment: Management and insiders control more than 40 percent of shares, aligning leadership directly with shareholder interests.
  • Jurisdictional Strengths: Operations in South Africa’s Barberton Greenstone Belt (long history of gold mining, strong infrastructure) and in the US southwest.
  • Exploration Upside: Both Galaxy and Summit hold substantial untested upside with additional ore bodies and underexplored zones.

Key Projects

Galaxy Gold Mine

Galaxy is Golconda’s cornerstone asset and currently the company’s sole producing mine. Situated in the Barberton Greenstone Belt, one of South Africa’s most prolific gold districts with nearly 150 years of mining history, the mine benefits from established infrastructure, sealed-road access and proximity to skilled mining services. The property hosts a large resource base of 941,000 oz of gold in the measured and indicated categories grading 2.79 grams per ton (g/t), plus 1.37 million oz (Moz) inferred at 2.62 g/t.

Snapshot of Galaxy Gold Mine Operations

The operation is an underground, trackless mechanized mine, currently producing at a run rate of ~12,000 oz/year, with a multi-stage ramp-up plan to 25,000 oz/year by 2027 and up to 45,000 oz/year by 2028. Ore is processed through a 50,000 tonnes per month (tpm) crush-mill-float plant, which was refurbished with a new mill, concentrate tanks, and a filter press. The plant is already capable of handling the full ramp-up capacity, allowing it to expand with minimal capital outlay.

Galaxy produces a refractory gold concentrate sold directly to Ocean Partners, eliminating the need for BIOX or other complex high-capex processing routes. This low-risk sales model enables Galaxy to operate profitably and reinvest cash flow into mine development. The mine plan leverages both the Princeton and Galaxy ore bodies, with development into additional levels and ore bodies among the 21 known mineralized zones on the property. Over its history, Galaxy (formerly, the Agnes mine) has produced more than 1.3 Moz of gold, with current exploration drilling continuing to identify significant upside at depth and along strike.

Economically, Galaxy is highly accretive: at $3,000/oz gold, the operation generates an after-tax NPV5 percent of US$201 million, with life-of-mine free cash flow exceeding US$270 million on conservative assumptions. The operation has a projected all-in sustaining cost (AISC) of ~US$1,000/oz once ramp-up is complete, positioning it competitively within the global cost curve.

Summit Gold-Silver Mine and Banner Mill

The Summit mine, located in the Steeple Rock Mining District of southwestern New Mexico, is a high-grade past-producing underground operation. The New Mexico portfolio also includes the Banner mill, a 240 tpd flotation facility located 57 miles from Summit via paved highways and sealed roads. Golconda acquired the project from Waterton in 2021, along with a streamlined land package totaling ~4,000 acres of patented and unpatented claims.

Summit Mine and Banner Mills snapshot

Summit hosts a defined resource of 1.4 Moz silver and 26,000 oz gold in measured and indicated categories, plus 5.1 Moz silver and 74,000 oz gold inferred. The mine is fully permitted and is expected to restart in Q2 2026, with first concentrate production within 9 to 12 months. The restart strategy is fully funded internally from Galaxy cash flows, ensuring no dilution to shareholders.

The planned annual production profile targets ~10,000 oz gold and 444,000 oz silver at steady state, with an average AISC of US$1,600/oz gold equivalent. At $3,000/oz gold and $35/oz silver, Summit delivers an after-tax NPV5 percent of US$105 million, with cumulative free cash flow of ~US$135 million over its mine life. The project is structured to be spun out into a standalone US-only gold-silver producer by Q4 2026, broadening investor appeal and potentially unlocking a higher valuation multiple.

The Banner Mill 240-tpd flotation facility 57 miles from the Summit mine

Exploration upside at Summit is significant. The Billali Zone, northwest of the main deposit, has returned historical intercepts including 681 g/t silver and 9.38 g/t gold over 4.4 m and hosts a 1992 historical resource of 288,000 tonnes grading 121 g/t silver and 3.67 g/t gold. The nearby Mohawk Area features a 2,000 ft IP anomaly with drill intercepts including 1.5 m at 437.5 g/t silver and 9.34 g/t gold at depth. Both zones remain open and underexplored, providing clear potential to extend mine life and scale production.

Summit’s restart and planned spin-out will give Golconda a second producing asset in a Tier 1 jurisdiction, diversify its commodity mix with silver exposure, and broaden its investor base, while maintaining the company’s no-dilution philosophy.

Management Team

Ravi Sood – Chairman and CEO

Ravi Sood has more than 25 years of experience in capital markets and operations. He is the founder and former CEO of Navina Asset Management, and director of Elemental Altus Royalties and Sparq Systems. He founded and/or co-founded multiple companies in mining, energy and renewables.

Andrew Bishop – Chief Financial Officer

A chartered accountant with more than 22 years of financial and mining experience in Africa and North America, Andrew Bishop brings strong financial discipline and operational insight to Golconda. He was previously with Aureus Mining, Avesoro Resources and Golden Star.

Wayne Hatton Jones – Chief Operating Officer

Wayne Hatton Jones is a mining professional with 38 years of experience in Africa, Asia and Europe. He previously worked at Goldridge, Avocet, Randgold and Harmony. His expertise includes mine development, metallurgy and operations.

This post appeared first on investingnews.com

Keep Reading
Editor's pick

Trump says U.S. will impose new tariffs on heavy trucks, drugs and kitchen cabinets

Editor's pick 3 Mins Read

President Donald Trump on Thursday announced a new round of punishing tariffs, saying the United States will impose a 100% tariff on imported branded drugs, 25% tariff on imports of all heavy-duty trucks and 50% tariffs on kitchen cabinets.

Trump also said he would start charging a 30% tariff on upholstered furniture next week.

He said the new heavy-duty truck tariffs were to protect manufacturers from “unfair outside competition” and said the move would benefit companies such as Paccar-owned PCAR.O Peterbilt and Kenworth and Daimler Truck-owned DTGGe.DE Freightliner.

Trump has launched numerous national security probes into potential new tariffs on a wide variety of products.

He said the new tariffs on kitchen, bathroom and some furniture were because of huge levels of imports that were hurting local manufacturers.

“The reason for this is the large-scale ‘FLOODING’ of these products into the United States by other outside Countries,” Trump said, citing national security concerns about U.S. manufacturing.

The U.S. Chamber of Commerce urged the department not to impose new tariffs, noting the top five import sources are Mexico, Canada, Japan, Germany and Finland “all of which are allies or close partners of the United States posing no threat to U.S. national security.”

Mexico is the largest exporter of medium- and heavy-duty trucks to the United States. A study released in January said imports of those larger vehicles from Mexico have tripled since 2019.

Higher tariffs on commercial vehicles could put pressure on transportation costs just as Trump has vowed to reduce inflation, especially on consumer goods such as groceries.

Tariffs could also affect Chrysler-parent Stellantis STLAM.MI, which produces heavy-duty Ram trucks and commercial vans in Mexico. Sweden’s Volvo Group VOLVb.ST is building a $700 million heavy-truck factory in Monterrey, Mexico, set to start operations in 2026.

Mexico is home to 14 manufacturers and assemblers of buses, trucks, and tractor trucks, and two manufacturers of engines, according to the U.S. International Trade Administration.

The country is also the leading global exporter of tractor trucks, 95% of which are destined for the United States.

“We need our Truckers to be financially healthy and strong, for many reasons, but above all else, for National Security purposes!” Trump added.

Mexico opposed new tariffs, telling the Commerce Department in May that all Mexican trucks exported to the United States have on average 50% U.S. content, including diesel engines.

Last year, the United States imported almost $128 billion in heavy vehicle parts from Mexico, accounting for approximately 28% of total U.S. imports, Mexico said.

The Japanese Automobile Manufacturers Association also opposed new tariffs, saying Japanese companies have cut exports to the United States as they have boosted U.S. production of medium- and heavy-duty trucks.

This post appeared first on NBC NEWS

Keep Reading
Investing

Silo Wellness Submits CSE Listing Statement for Review of Born Defense Proposed Change of Business

Investing 4 Mins Read

Silo Wellness Inc. (CSE: SILO) (‘Silo’ or the ‘Company’), to be renamed Born Defense Inc., is pleased to announce that it has submitted its listing statement (the ‘Listing Statement’) with the Canadian Securities Exchange (the ‘CSE’) on September 26, 2025, for review in connection with its previously announced proposed change of business to an investment issuer focused on the defense and national security sectors.

The Listing Statement provides comprehensive disclosure regarding the Company’s business, assets, financial statements, management team, and strategic direction, and is a key step toward satisfying the CSE’s requirements for the resumption of trading of the Company’s common shares.

As previously disclosed, the Company intends to complete a name change to Born Defense Inc. and transition its primary business focus to defense innovation and national-security investments. Born’s strategy is grounded in Just War principles and the protection of individual liberty, a framework discussed at length in the Compony’s podcast interview with Dr. Eric Patterson, a leading scholar of the Just War tradition (‘Just War Doctrine with Dr. Eric Patterson,’ https://youtu.be/pBkZG9mZDMk). In that conversation, Dr. Patterson emphasized the classical criteria (legitimate authority, right intention, last resort, probability of success, proportionality, and discrimination) and how those ethics constrain power, guide deterrence, and inform responsible industrial stewardship. The submission of the Listing Statement is an important milestone in advancing this vision.

The Listing Statement also outlines recent measures undertaken by the Company to strengthen its financial position, including agreements to settle approximately CAD $4.4 million of debt through the issuance of common shares, significantly reducing liabilities and positioning the Company for its strategic transition. Upon CSE approval, this restructuring is expected to improve the balance sheet and align shareholder interests as the Company advances its change of business.

‘While this must go through the full regulatory process, I’m proud of how hard our team has worked to stabilize and strengthen the public vehicle by earning buy-in from creditors who have either agreed to convert their debt into shares or to middle- and long-term payment plans so initial financing can stretch further. I’m looking forward to feedback from the CSE on our business plan and intentions. Until then, we’ll prepare for the future with a steadfast goal of peace through strength. Now is the time to preserve civilization through strategic investment in the people trusted to responsibly steward these powerful defense technologies for the next generations.’ — Richard Craven, CEO, Born Defense

The Listing Statement will be made available on the Company’s profile on SEDAR+ once it has been accepted for filing by the CSE. Shareholders will also be provided with notice of any meeting required to approve the proposed change of business and related matters, in accordance with applicable securities laws and stock exchange requirements.

There can be no assurance as to the timing of completion of the CSE’s review process, the Company’s shareholder approval, or the resumption of trading of the Company’s securities.

About Born Defense

Silo Wellness (CSE: SILO) is a public company currently transitioning its operations into Born Defense Inc., a national security investment issuer committed to ethical defense finance guided by the Just War Doctrine. The company’s restructured business model centers on trade finance, strategic equity investments, and collateral-backed lending for pre-IPO and critical infrastructure ventures globally.

Contact Information

Mike Arnold, President
ir at borndefense (dot) com
541-359-3931
www.SiloWellness.com
www.BornDefense.com

Follow and amplify:

    Forward-Looking Statements

    This press release contains forward-looking statements under applicable securities laws. These statements relate to future events, financial performance, and operational expectations, including the objectives, prospective transaction, market conditions, and strategic plans.

    Forward-looking statements involve risks, uncertainties, and assumptions that may cause actual results to differ materially, including market conditions, regulatory changes, geopolitical factors, capital availability, and the timing and outcome of the CSE’s review of the Listing Statement. We undertake no obligation to update these statements except as required by law. Readers should not place undue reliance on forward-looking statements, which speak only as of their date.

    No Offer or Solicitation

    This press release is for informational purposes only and does not constitute an offer or solicitation to buy or sell securities. Any such offering will be made only in compliance with applicable laws and through authorized offering documents.

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268286

    News Provided by Newsfile via QuoteMedia

    This post appeared first on investingnews.com

    Keep Reading
    Investing

    Falco Resources

    Investing 12 Mins Read

    Investor Insight

    Falco Resources presents a compelling investment opportunity with its high-margin Horne 5 gold project, strong partnerships, and advancing path to construction in Quebec’s prolific Rouyn-Noranda mining camp.

    Overview

    Falco Resources (TSXV:FPC) is a Canadian company focused on developing gold and base metal projects in the Rouyn-Noranda region of Quebec. Rouyn-Noranda is an established mining camp with a long history of exploration and development. The Noranda mining camp has historically produced 19 million ounces (Moz) of gold and 2.9 billion pounds (Blbs) of copper, and yet it is still under-explored for gold.

    Falco’s principal property, Horne 5 project, holds 67,000 acres or nearly 67 percent of the total area of the entire mining camp and is located under the former Horne mine which produced 11.6 Moz of gold and 2.5 Blbs of copper. The 2021 feasibility study on the Horne 5 project suggests strong project economics with a total mine life of 15 years, after-tax NPV at 5 percent of US$761 million, and a payback period of 4.8 years, assuming gold prices at $1,600/oz. At the current gold prices of over $2,500/oz, the project economics will be even better.

    In 2024, significant milestones for the company include the operating lease and indemnity agreement (OLIA) with Glencore (LON:GLEN) and the Horne 5 project’s environmental impact assessment (EIA) admissibility. Falco Resources’ operating license and indemnity agreement (OLIA) with Glencore Canada will enable Falco to utilize a portion of Glencore’s lands. The agreement entails establishing a technical committee comprising two representatives from Glencore and two from Falco, tasked with safeguarding the uninterrupted operations of Glencore’s Horne copper smelter. Additionally, a parallel strategic committee will be formed. Glencore canl nominate one representative to join Falco’s board of directors.

    The successful completion of the OLIA, coupled with life-of-mine copper-zinc concentrate offtake agreements with Glencore, positions Falco to advance its Horne 5 project towards construction. The company is currently advancing with the permitting process for the project.

    Falco is continuing with the next steps related to obtaining government permits and financing for its Horne 5 project after the report filed by the Bureau d’audiences publiques sur l’environnement (BAPE). The BAPE examined the Falco Horne 5 mining project from a sustainable development perspective, requesting additional studies and analyses. More than 90 percent of the commission’s opinions related to the project have already been considered, planned or initiated.

    Company Highlights

    • Falco Resources is a Canadian explorer of base and precious metals focused on developing its mineral properties in the Rouyn-Noranda region in Quebec, Canada.
    • The company holds 67,000 acres of mining claims in the Rouyn-Noranda mining camp, accounting for nearly 67 percent of the entire mining camp.
    • Rouyn-Noranda has a long history of mining and exploration. The area has established infrastructure and has been host to 50 former producers, including 20 base metal mines and 30 gold mines.
    • Falco’s principal asset is the Horne 5 project which is a gold project with significant base metal by-products. It is located under the former Horne Mine which produced 11.6 Moz of gold and 2.5 billion pounds of copper from 1926 to 1976.
    • The Horne 5 is a world-class deposit containing 7.6 Moz gold equivalent in measured and indicated resources and 1.7 Moz gold equivalent in inferred resources, making it a top 5 gold development project in Canada by resource size.
    • The Horne 5 project represents a robust, high-margin, 15-year underground mining project with attractive economics. The 2021 feasibility study indicates after-tax NPV at 5 percent of US$761 million and after-tax IRR of 18.9 percent.
    • The operating lease and indemnity agreement (OLIA) with Glencore coupled with EIA admissibility receipt from the government body positions Falco to advance its Horne 5 project towards construction.

    Key Project

    Horne 5 Project

    The Horne 5 project is a world-class deposit located beneath the former Horne mine in the Rouyn -Noranda mining camp. Horne mine was operated by Noranda from 1926 to 1976 and produced 11.6 Moz of gold and 2.5 Blbs of copper. The Rouyn-Noranda mining camp has a rich exploration history having produced 19 Moz of gold and 2.9 Blbs of copper. The camp has hosted 50 producers including 20 base metal mines and 30 gold mines.

    The Horne 5 is a world-class deposit containing 6.1 Moz gold equivalent in proven and probable reserves, 7.6 Moz gold equivalent in measured and indicated resources, and 1.7 Moz gold equivalent in inferred resources making it a top 5 gold development project in Canada by resource size.

    The project boasts strong partners including Osisko Development, Osisko Gold Royalties, Glencore, and the Quebec Government. Osisko Development is a major shareholder in Falco Resources with a 16 percent stake, and the Quebec Government holds close to 7.5 percent stake in Falco.

    Aside from gold, Horne 5 has significant base metal by-products. As per the feasibility study, precious metals (gold + silver) account for 75.6 percent of the mining revenue, while base metals (copper and zinc), account for 24.3 percent of the total mine revenue.

    The 2021 updated feasibility study on the Horne 5 project indicates robust project economics. The feasibility study shows the project would generate an after-tax NPV at 5 percent of US$761 million and an after-tax IRR of 18.9 percent over the 15-year mine life. The production profile would average annual production of 220,300 oz gold over the life of the mine. Further, the study suggests significant copper and zinc by-product credits from the copper and zinc production, as well as the highly automated modern operations resulting in a low projected all-in sustaining cost (AISC) of $587/oz. Horne 5’s AISC is among the first quartile of global low-cost operations.

    Recent news flows including the OLIA with Glencore and the Horne 5 project’s EIA admissibility are significant milestones in the advancement of the project towards development.

    Falco Resources’ OLIA with Glencore Canada enables Falco to utilize a portion of Glencore’s lands. The agreement entails establishing a technical committee comprising two representatives from Glencore and two from Falco, tasked with safeguarding the uninterrupted operations of Glencore’s Horne copper smelter. Additionally, a parallel strategic committee will be formed. Glencore can nominate one representative to join Falco’s board of directors.

    The successful completion of OLIA coupled with life-of-mine copper-zinc concentrate offtake agreements with Glencore positions Falco to advance its Horne 5 project towards development. Further, the receipt of confirmation of the admissibility of its EIA for the Horne 5 project from the Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks is a significant milestone. It provides a path forward for the development of the project.

    Management Team

    Luc Lessard – President, Chief Executive Officer and Director

    Luc Lessard brings over 30 years of experience in the design, construction, and operation of mines. Before joining Falco, he held senior executive positions at Osisko Gold Royalties, Canadian Malartic GP (a joint venture of Agnico Eagle Mines and Yamana Gold), and Osisko Mining Corporation. At Osisko Mining Corporation, he oversaw the design, construction, and commissioning of the Canadian Malartic gold mine. Lessard has been involved in numerous surface and underground mining projects throughout his career. Lessard holds a bachelor’s degree in mining engineering from Laval University.

    Anthony Glavac – Chief Financial Officer

    Anthony Glavac has 25 years of experience in financial reporting, including over 15 years in the mining industry. Before joining Falco, he served as the director of financial reporting and internal controls at Dynacor Gold Mines and as the interim chief financial officer at Alderon Iron Ore. Glavac was previously the senior manager at KPMG, where he worked with a diverse portfolio of public and private companies, offering services such as audit, taxation, strategic advisory, and assistance with public offerings. Glavac is also engaged with other public companies within the mining sector.

    Helene Cartier – Vice-president Environment, Sustainable Development and Community Relations

    Helene Cartier possesses over 20 years of expertise in the environmental field. She began her mining career as part of the Cambior team before transitioning to the role of vice-president of environmental services and sustainable development at Osisko Mining. There, she played a pivotal role in the development and commissioning phases of the Canadian Malartic gold mine. She has served on the board of directors of several public and private companies.

    Mireille Tremblay – Vice-president Legal Affairs and Corporate Secretary

    Mireille Tremblay possesses more than 25 years of experience in business law, primarily in securities, mergers and acquisitions, corporate finance, and governance. Before joining Falco in January 2021 as the director of legal affairs, Tremblay served as a legal advisor to clients across diverse industries, including the mining sector. She advocated for companies and investors involved in mining transactions in Africa, notably during the construction of a gold mine in Burkina Faso and in negotiations with the Ivorian government. Additionally, she has represented numerous companies, underwriters, and investors in various contexts, including public offerings and private placement financings, both domestically and internationally. Tremblay holds a law degree from the University of Montreal.

    Mario Caron – Independent Chair

    Mario Caron is a mining executive with over 40 years of experience in the mining industry in senior executive and board positions. His experience was gained nationally and internationally in both underground and open pit operations. As CEO of public companies, he secured mining licenses and various permits in numerous jurisdictions. From 2016 to 2023, he was the Chairman of New Moly LLC. (formerly known as Alloycorp Mining), a privatized company since August 2016 with a molybdenum deposit in British Columbia. Caron received his Bachelor of Engineering, Mining at McGill University and is a retired member of the Association of Professional Engineers of Ontario and of the Ordre des ingénieurs du Québec.

    Alexander Dann – Non-independent Director

    Alexander Dann is a chartered professional accountant with over 30 years of experience leading financial operations and strategic planning for multinational public companies, primarily in the mining and manufacturing sectors. In February 2021, he was appointed chief financial officer and vice president, finance of Osisko Development. Before that, Dann served as chief financial officer of The Flowr Corporation from November 2017 to March 2020, where he successfully guided such corporation from a small private company to a TSX Venture Exchange publicly traded corporation. Prior to that, he was chief financial officer of Avion Gold and Era Resources until their acquisitions by Endeavour Mining Corporation and The Sentient Group, respectively. Dann also held senior finance roles with Falconbridge. (now part of Glencore Canada Corporation), Rio Algom Limited (now part of BHP Billiton) and Litens Automotive Partnership (a group within Magna International Inc.). Dann is the nominee of Osisko Development on the Corporation’s Board of Directors pursuant to the Investor Rights Agreement entered into between the Corporation and Osisko Development on November 27, 2020 (the “Investor Rights Agreement”). Dann obtained his Chartered Accountant designation in 1995 and holds a Bachelor’s degree in Business Administration from Université Laval in Québec City.

    Paola Farnesi – Independent Director

    Paola Farnesi is a senior financial professional with over 30 years of experience in corporate finance, financial reporting, M&A and risk management. She is currently vice president and treasurer of Domtar Corporation, responsible for negotiating and arranging $2.5 billion in corporate financings, overseeing an insurance portfolio of $50 billion in insurable values and managing the investments of pension fund assets of $8 billion. From 1994 to 2008, Farnesi held several other leadership positions at Domtar Corporation, including vice president of internal audit, where she was responsible for the implementation and subsequent compliance efforts related to Sarbanes-Oxley. Prior to joining Domtar Corporation, Farnesi worked at Ernst & Young for the assurance group in Montréal. Farnesi holds a Bachelor of Commerce and a Graduate degree in Public Accountancy from McGill University, is a member of the Chartered Professional Accountants of Québec and obtained the ICD.D designation from the Institute of Corporate Directors.

    Chantal Sorel – Independent Director

    Chantal Sorel is a corporate director. She has over 35 years of experience in general management with full profit and loss responsibility, project financing, project management, operations, strategic development, business development, mergers and acquisitions, in the industries of mining and metallurgy, power, infrastructure, industrial facilities, rail and transit. Sorel held the position of Vice President, Airport Infrastructures at Aéroports de Montréal from April 2023 to February 2024, after being an adviser to the airport from 2020 to 2023. Previously, she was executive vice president and managing director of capital at AtkinsRéalis (formerly known as the SNC-Lavalin Group) from 2016 to 2019 where she was responsible for the project financing and asset management of a $20 billion infrastructure and industrial asset portfolio. Sorel holds a degree in architecture from Université de Montréal and a master’s degree in project management from Université du Québec à Montréal and completed the Director Education Program jointly offered by the Institute of Corporate Directors, the McGill Executive Institute and the Rotman School of Management at the University of Toronto.

    Sean Roosen – Special Advisor

    Sean Roosen is a founder of Osisko Mining Corporation and played a central role in the discovery, financing, and development of the Canadian Malartic mine, one of Canada’s largest gold producers. He is currently executive chair and CEO of Osisko Development and previously served as founder, executive chair, and CEO of Osisko Gold Royalties. With more than 44 years of mining industry experience, he has been recognized globally for his leadership, including being named Mines and Money Americas’ “Best CEO in North America” (2017) and one of the “Top 20 Most Influential Individuals in Global Mining.” Roosen is a graduate of the Haileybury School of Mines.

    John Burzynski – Special Advisor

    John Burzynski is executive chair of Osisko Metals and former Chair, CEO, and director of Osisko Mining, where he led the discovery, development, and $2.2 billion sale of the Windfall gold project to Gold Fields Ltd. A co-founder of Osisko Mining Corporation, he was instrumental in the development and sale of the Canadian Malartic mine. With over 35 years of international mining experience, Burzynski has received multiple industry awards, including PDAC’s “Prospector of the Year” (2007, 2024) and the Northern Miner’s “Mining Man of the Year” (2009). He holds a B.Sc. (Honours) in geology from Mount Allison University and an M.Sc. in exploration and mineral economics from Queen’s University.

    This post appeared first on investingnews.com

    Keep Reading