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Beta Bionics Unveils $112.5 Million IPO Terms, Pioneers Autonomous Insulin Delivery Technology

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Beta Bionics’ iLet Bionic Pancreas is the first FDA-approved device to autonomously determine insulin doses using adaptive algorithms.
– The company plans to raise $112.5 million by offering 7.5 million shares at a price range of $14-$16, achieving a potential market cap of $577.35 million.
– Beta Bionics is part of a surge in biotech IPOs, reflecting investor confidence in transformative medical technologies.

Beta Bionics, the California-based innovator behind the iLet Bionic Pancreas, disclosed plans for a $112.5 million IPO, marking a pivotal moment in healthcare technology. The IPO terms, filed on January 22, 2025, outline the offering of 7.5 million shares priced between $14.00 and $16.00. At the midpoint of $15.00 per share, the company would achieve a market cap of approximately $577.35 million. Trading is set to commence on January 30, 2025, under the proposed ticker symbol “BBNX” on the NASDAQ.

The iLet Bionic Pancreas represents a groundbreaking advancement in diabetes management, being the first FDA-approved insulin delivery device to use adaptive closed-loop algorithms. This innovation enables the device to autonomously determine every insulin dose without requiring users to count carbohydrates, offering a significant improvement in the quality of life for individuals with Type 1 diabetes (T1D).

T1D affects approximately 1.8 million people in the U.S., all of whom rely on daily insulin replacement. The iLet system, cleared by the FDA for patients aged six and older in May 2023, targets this market with a vision to transform diabetes care. Despite its groundbreaking potential, Beta Bionics is currently unprofitable, reporting a net loss of $55.4 million on $53.1 million in revenue for the 12 months ending September 30, 2024.

The IPO, led by BofA Securities, Piper Sandler, Leerink, and Stifel, will provide the funding necessary for Beta Bionics to expand commercialization efforts and further develop its innovative technology. This initiative positions the company at the forefront of the intersection between healthcare and technology, emphasizing the growing demand for automated and personalized solutions in chronic disease management.

Beta Bionics’ IPO is part of a broader trend highlighting the growing prominence of biotech companies in public markets. With the rapid advancements in medical technology and increasing regulatory approvals, the biotech sector has emerged as a key driver of innovation. Biotech IPOs have gained momentum, reflecting strong investor interest in companies addressing critical healthcare needs with cutting-edge solutions.

In particular, biotech firms are increasingly leveraging public funding to accelerate the development and distribution of transformative therapies and devices. The promise of addressing unmet medical needs, coupled with advancements in artificial intelligence and biotechnology, has fueled optimism in the sector. Companies like Beta Bionics exemplify how public markets can empower medical innovation to scale, potentially improving millions of lives.

Investors are drawn to biotech IPOs not only for their market potential but also for their societal impact, as these companies strive to tackle some of the world’s most pressing healthcare challenges. Beta Bionics’ iLet device is a prime example of this trend, offering a glimpse into the future of automated, patient-centric care.

Take a moment to take a look at more emerging growth healthcare companies by taking a look at Noble Capital Markets’ Research Analyst Robert LeBoyer’s coverage list.

Release – P180 Acquires Sun Capital’s Majority Stake in Vince Holding Corp.

Posted on by aweinsoff@channelchek.com

Research News and Market Data on VNCE

01/22/2025

Vince Holding Corp. Significantly Reduces Debt

Brendan Hoffman Expected to Become CEO of Vince Holding Corp.

NEW YORK–(BUSINESS WIRE)– Vince Holding Corp., (NYSE: VNCE) (“VNCE” or the “Company”), a global contemporary retailer, today announced that P180, a new venture focused on accelerating growth and profitability in the luxury apparel sector, acquired a majority stake in VNCE (the “P180 Acquisition”) from affiliates of Sun Capital Partners, Inc. (collectively, “Sun Capital”).

In conjunction with the P180 Acquisition, Brendan Hoffman is expected to assume the role of Chief Executive Officer of VNCE effective on or around February 3, 2025, subject to finalization of his employment terms. With this transition, David Stefko is expected to step down as Interim CEO of VNCE and continue to serve on the VNCE Board of Directors. In addition, Matthew Garff resigned from the VNCE Board of Directors in connection with the P180 Acquisition.

“VNCE is the perfect partner for P180; the brand’s dominance in the luxury contemporary market aligns seamlessly with our acquisition strategy. In addition, as VNCE has evolved its operating model, we believe having access to the technology and team of CaaStle, founded by Christine Hunsicker, my co-founder at P180, will further advance the company’s momentum in driving improved profitability while enhancing its omni-channel experience.” Mr. Hoffman added, “Personally, I have a strong connection to the Vince brand, having served as VNCE CEO for five years. I am excited to lead the team again as we continue to unlock new growth opportunities, drive innovation, enhance the brand’s market position, and focus on monetizing the Company’s inventory to ensure continued long-term success.”

“P180’s acquisition represents a transformative opportunity for VNCE. With this transaction, we will gain the operational expertise and cutting-edge digital capabilities needed to drive the brand’s future success,” commented Michael Mardy, Chairman of VNCE. “On behalf of the Board and the organization, I would also like to thank Dave for stepping into the interim CEO role for the past year. Through his leadership, the company has continued to execute and deliver results by operating a healthier full price model. We are glad to have Dave remain on the Board and are excited to welcome Brendan back to lead the organization into its next chapter.”

This acquisition marks the third strategic deal for P180 since its inception in 2024 and follows its recent investment with the prestigious fashion label Altuzarra and digital partnership with the multi-brand premium retailer elysewalker.

VNCE Significantly Reduces Debt

Simultaneously with the P180 Acquisition, an indirectly wholly owned subsidiary of VNCE, V Opco, LLC (“V Opco”), amended its existing credit agreement (the “ABL Credit Facility”) with Bank of America, N.A. (“BofA”). The amendment consents to, among other things, the change in control in connection with the P180 Acquisition, as well as a partial pay down of the subordinated debt (“Sun Debt Facility”) with SK Financial Services, LLC, an affiliate of Sun Capital, through increased borrowings under the ABL Credit Facility. On the same day, V Opco paid $15 million to SK Financial Services, LLC using proceeds from the ABL Credit Facility, which resulted in a pay-down of $20 million under the Sun Debt Facility (the “Sun Debt Paydown”).

In addition, P-180 acquired and assumed $7 million of the loans (the “P-180 Assumed Loan”) outstanding pursuant to the Sun Debt Facility and immediately thereafter cancelled such $7 million (the “P-180 Debt Forgiveness”).

Following the Sun Debt Paydown and P-180 Debt Forgiveness, the outstanding principal amount of subordinated loans is reduced by approximately $27 million with $7.5 million remaining outstanding under the Sun Debt Facility, which will continue to accrue payment-in-kind interest in accordance with, and otherwise be subject to, the terms and conditions therein.

Immediately following the P-180 Acquisition, P180 beneficially owned approximately 65% of all outstanding shares of common stock of VNCE and affiliates of Sun Capital continue to beneficially own approximately 2% of the Company’s outstanding common stock.

As part of the terms to the transactions described above, P-180 agreed to reimburse the Company for certain fees and expenses incurred in connection with such transactions, including the Company’s legal fees as well as the consent fee to BofA.

About P180:

P180, a new venture co-founded by Christine Hunsicker (founder and CEO of CaaStle, Inc.) and Brendan Hoffman, is dedicated to driving brand and retailer profitability by providing operational expertise and access to leading industry resources, including CaaStle’s innovative monetization platform. P180’s core mission is to invest in or acquire brands and retailers that stand to benefit from digital expertise and inventory monetization.

About VNCE:

Vince Holding Corp. is a global retail company that operates the Vince brand women’s and men’s ready to wear business. Vince, established in 2002, is a leading global luxury apparel and accessories brand best known for creating elevated yet understated pieces for every day effortless style. Vince Holding Corp. operates 47 full-price retail stores, 14 outlet stores, and its e-commerce site, vince.com and through its subscription service Vince Unfold, www.vinceunfold.com, operated by CaaStle, as well as through premium wholesale channels globally. Please visit www.vince.com for more information.

Forward-Looking Statements: This document contains forward-looking statements under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, our planned transformation program and our current expectations about possible or assumed future results of operations of the Company and are indicated by words or phrases such as “may,” “will,” “should,” “believe,” “expect,” “seek,” “anticipate,” “intend,” “estimate,” “plan,” “target,” “project,” “forecast,” “envision” and other similar phrases. Although we believe the assumptions and expectations reflected in these forward-looking statements are reasonable, these assumptions and expectations may not prove to be correct and we may not achieve the results or benefits anticipated. These forward-looking statements are not guarantees of actual results, and our actual results may differ materially from those suggested in the forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, some of which are beyond our control, including, without limitation: our ability to successfully manage the transition of VNCE majority ownership to P180 and to execute P180’s strategies for the Company; our ability to execute and realize the enhanced profitability expectations of our planned transformation program; our ability to maintain the license agreement with ABG Vince, a subsidiary of Authentic Brands Group; ABG Vince’s expansion of the Vince brand into other categories and territories; ABG Vince’s approval rights and other actions; our ability to maintain adequate cash flow from operations or availability under our revolving credit facility to meet our liquidity needs; our ability to realize the benefits of our strategic initiatives; general economic conditions; further impairment of our goodwill; the execution and management of our direct-to-consumer business growth plans; our ability to make lease payments when due; our ability to maintain our larger wholesale partners; our ability to remediate the identified material weakness in our internal control over financial reporting; our ability to comply with domestic and international laws, regulations and orders; our ability to anticipate and/or react to changes in customer demand and attract new customers, including in connection with making inventory commitments; our ability to remain competitive in the areas of merchandise quality, price, breadth of selection and customer service; our ability to attract and retain key personnel; seasonal and quarterly variations in our revenue and income; our ability to mitigate system security risk issues, such as cyber or malware attacks, as well as other major system failures; our ability to optimize our systems, processes and functions; our ability to comply with privacy-related obligations; our ability to ensure the proper operation of the distribution facilities by third-party logistics providers; fluctuations in the price, availability and quality of raw materials; commodity, raw material and other cost increases; the extent of our foreign sourcing; our reliance on independent manufacturers; other tax matters; and other factors as set forth from time to time in our Securities and Exchange Commission filings, including those described under “Item 1A—Risk Factors” in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We intend these forward-looking statements to speak only as of the time of this release and do not undertake to update or revise them as more information becomes available, except as required by law.

This press release is also available on the Vince Holding Corp. website (http://investors.vince.com/).

VNCE Investor Relations Contact:
Caitlin Churchill
ICR, Inc.
Caitlin.Churchill@icrinc.com

P180 Media Contacts:
Jacqueline Renaud
Vice President
Lividini & Co.
Jacqueline@lividini.com

Morgan Tanacea
Senior Director
Lividini & Co.
Morgan@lividini.com

Source: Vince Holding Corp.

Release – Lucky Strike Entertainment to Report Second Quarter 2025 Financial Results on February 5, 2025

Posted on by aweinsoff@channelchek.com

Research News and Market Data on LUCK

01/22/2025

RICHMOND, Va.–(BUSINESS WIRE)– Lucky Strike Entertainment (NYSE: LUCK), one of the world’s premier operators of location-based entertainment, will report financial results for the second quarter of fiscal 2025 on Wednesday, February 5, 2025, before the U.S. stock market opens. Management will discuss the results via webcast at 10:00 AM ET on the same day.

The live webcast, replay, and results presentation will be available in the Events & Presentations section of the Lucky Strike Entertainment Investor Relations website at IR.LuckyStrikeEnt.com.

About Lucky Strike Entertainment

Lucky Strike Entertainment is one of the world’s premier location-based entertainment platforms. With over 360 locations across North America, Lucky Strike Entertainment provides experiential offerings in bowling, amusements, water parks, and family entertainment centers. The company also owns the Professional Bowlers Association, the major league of bowling and a growing media property that boasts millions of fans around the globe. For more information on Lucky Strike Entertainment, please visit IR.LuckyStrikeEnt.com.

IR@LSEnt.com

Source: Lucky Strike Entertainment Corporation

Release – Maple Gold Commences 10,000 Metre Phase I Drill Program at Douay and Provides 2025 Outlook for the Douay/Joutel Gold Project

Posted on by aweinsoff@channelchek.com

Research News and Market Data on MGMLF

Drill Now Turning to Expand and Upgrade Current Douay Mineral Resource and Test New Property-Wide Discovery Targets

January 22, 2025 7:00 AM EST | Source: Maple Gold Mines Ltd.

Vancouver, British Columbia–(Newsfile Corp. – January 22, 2025) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to provide an exploration update and 2025 outlook for its 100%-owned Douay Gold Project (“Douay“) and Joutel Gold Project (“Joutel“) (together, “Douay/Joutel” or the “Property“) located along the Casa Berardi-Douay Gold Trend in Québec, Canada (see Figures 1 and 2).

A 10,000-metre (“m“) Phase I diamond drilling program (the “Program“) has now commenced at Douay with an expected duration of three to four months. The location of the Douay mineralized zones and primary targets are shown in Figures 3 and 4. Key objectives of the Program include:

  • Targeting poorly drilled areas within Inferred Resources for conversion to Indicated Resources within the pit-constrained and underground resource domains;
  • Step-out drilling along strike, down-dip, and down-plunge to expand Inferred Resources
  • Step-out drilling from zones of high-grade gold mineralization within the underground Inferred Resources to demonstrate lateral and vertical continuity;
  • Targeting areas between modeled mineralized zones with geological continuity; and
  • Testing new targets developed during the compilation exercise of geological, geochemical and geophysical data.

Concurrent development initiatives are anticipated throughout 2025 to advance and de-risk the Douay deposit, including a review of the current Douay mineral resource estimate (“MRE“) and an evaluation of potential scenarios to optimize higher grade mineral resources that could be accessible via underground mining methods. An additional 3,000 m of diamond drilling is planned at Joutel in H2 2025 to extend the known high-grade gold mineralization along the past-producing Eagle-Telbel mine trend.

“We are excited to be drilling again at Douay with refocused attention on the higher-grade core of the deposit and its possible extensions both within and beyond our current drill pattern up to 500 m vertical depth,” stated Kiran Patankar, President and CEO. “Maple Gold’s technical team has accomplished a monumental task in compiling over 50 years of exploration data to generate new geological/structural/geochemical 3D models that have vastly improved our drill targeting. This work highlights the excellent exploration potential of Douay/Joutel, the importance of its location along the deep-seated Casa Berardi break, and the opportunity for the Property to host multiple gold deposits within a variety of geological settings. Our focus in 2025 will be executing a comprehensive exploration and development program that is aimed at delivering shareholder value through the drill bit and via project de-risking, while maintaining strict cost discipline across the Company.”

A total exploration budget of approximately $6.3 million has been established for 2025, including permitting, drilling, assaying, personnel, camp and site support costs. The 2025 work program will be fully funded from Maple Gold’s existing treasury.

Program Details

The Company is currently planning a minimum of 10,000 m of diamond drilling at Douay in 2025. Phase I drilling has now commenced with an expected duration of approximately three to four months (see Figures 3 and 4). The breakdown of the drilling metreage will be approximately: 70% dedicated to de-risking and expanding the Douay MRE through strategic infill and step-out holes (along strike and at depth); and 30% for the testing of new regional geological and geophysical targets along strike from the Douay MRE and north into the Taibi Group sediments along favourable structural breaks and lithologic contacts. The Company plans to complete infill drilling throughout the Douay MRE to convert Inferred Resources to Indicated Resources, potentially add new Inferred Resources within poorly drilled 100-200 m gaps between modeled mineral domains and target the down-plunge extensions of higher-grade zones outside the Douay MRE.

The Company plans to utilize all available data from its year-long data compilation exercise to initially target the shallow portions of the Douay mineralizing system (<500 m vertical depth) to fully understand the geometry of the known zones and outline key plunge directions (Phase I on Figure 4) before systematically stepping down-plunge and at depth (>500 m vertical depth) during a proposed second drilling phase (Phase II on Figure 4). This will allow the Company to control exploration risk and maximize exploration success.

The initial focus of Phase I drilling will be on the central portions of the Douay MRE targeting higher grade areas within the Porphyry Zone (comprised of West/Central/East portions), which is hosted within the Douay Intrusive Complex and includes some of the highest-grade assays returned on the Property (up to 2,888 grams/tonne (“g/t”) of gold (“Au”) over 0.5 m in historical drill hole DO-05-04). Other targets include: the 531 Zone which is hosted within mafic volcanic and folded interflow sedimentary rocks and includes one of highest-grade gold intersections reported by the Company in drill hole DO-21-310 which returned 8.8 g/t Au over 28.5 m, including 12.7 g/t Au over 10.0 m and 31.1 g/t Au over 0.5 m (see Company news release dated September 9, 2021); and the Main Zone which lies along the northern edge of the Douay Deformation Zone (“DDZ“) with gold mineralization hosted along the sheared graphitic contact between the Taibi Group volcaniclastic and sedimentary rocks to the north and Cartwright Hills Group mafic volcanic rocks to the south. Taibi Group sediments represent a promising new target area for the Company with the potential for sediment-hosted gold deposits along a major lithotectonic boundary similar to the Casa Berardi and Canadian Malartic deposits.

Douay/Joutel Exploration Update

Since the completion of its last drilling campaign in Spring 2023, the Company has focused on streamlining onsite operations, standardizing procedures, enhancing efficiencies, centralizing data management, optimizing workflow, and reducing overhead site costs. This effort has led to increased productivity from a revamped technical team that has reviewed historical drill core, compiled and digitized data, distinguished new geological and structural controls on gold mineralization, and developed vectors for targeting gold mineralization in the next phases of drilling.

Key tasks completed by the Maple Gold technical team include: re-logging of historical diamond drill core (>20,000 m); re-interpretation and preparation of drill hole cross-sections and level plans for all mineralized zones; updating and creating new robust 3D geological and structural models in Leapfrog software; updating of the Property-wide drill hole and geochemical databases with previously unincorporated historical data; layering of geological, structural, geochemical and geophysical data sets to generate new targets; and use of expert geochemical consultants to process multi-element assay data to identify potential pathfinder elements and ‘hot’ spots.

Key findings from the year-long data review and compilation exercise include:

  • The Casa Berardi Deformation Zone (the “CBDZ“) widens around Douay/Joutel resulting in complex zones along the DDZ of brittle and ductile deformation, subsidiary splays, NNE cross-faulting, and potential dextral rotation around the Douay Intrusive Complex resulting in Delta-type pressure shadows and possible structural traps for gold (see Figure 2).
  • A variety of host domains and rock types are favourable for gold mineralization including the Douay Alkaline Intrusion, Taibi Group sediments (including iron formations), Cartwright Hills Group basalts (including Fe-Rich tholeiitic komatiites), Temiskaming-style conglomerates, and structural breaks associated with major lithotectonic (volcanic-sedimentary) contacts.
  • Multiple styles and generations of mineralization are present at Douay/Joutel including Intrusion-Related Gold Systems (“IRGS“), multi-phase breccias, late orogenic gold, and synvolcanic-exhalative gold (Eagle-Telbel).
  • Gold mineralization is commonly associated with broad zones of albitization, Fe-carbonatization, silicification, hematization, fenitization, biotitization, and pyritization and alteration can be used as a key vector for gold mineralization.
  • The twelve (12) main mineralized zones all display a strong plunge geometry to the higher-grade gold mineralization, which varies from shallow to steep, and from southeast to southwest, possibly related to an earlier folding event. There also appears be a periodicity to the mineralized zones within the DDZ spaced 500 m to 1,000 m apart (see Figure 3).
  • There has been very limited drilling below 500 m vertical depth in comparison to other gold deposits in the Abitibi (East Gouldie/Odyssey, LaRonde) (see Figure 4).

Planned Douay Development Initiatives

The Company plans to review the current Douay MRE for the Project which currently contains both pit-constrained and underground Inferred and Indicated mineral resources to optimize higher grade resources that could be accessible via an underground mining scenario. Initial focus would include the Douay West zone which currently hosts Indicated mineral resources totaling 4.2 million tonnes (“Mt“) grading 2.13 g/t Au (containing 286,000 ounces of Au) and Inferred mineral resources totaling 3.7 Mt grading 1.39 g/t Au (containing 169,000 ounces of Au)1. Douay West also includes existing surface infrastructure constructed in 1995 including a headframe and mine hoist.

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Figure 1: Location of the Douay/Joutel (Eagle-Telbel) Property in the Abitibi Sub-Province, Québec

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3077/238051_a4fb077954474b5c_001full.jpg

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Figure 2: Plan view map showing generalized geology and mineralized zones at Douay/Joutel

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Figure 3: Plan view map showing location of Douay Mineralized Zones, 2025 Target Area and Drill Collars

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Figure 4: Composite longitudinal section showing location of Douay Mineralized Zones and 2025 Target Areas (in red) (note: comparison to other deposits for reference purposes only)

To view an enhanced version of this graphic, please visit:
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2024 Exploration Work Completed at Joutel and Morris VMS Project

In Q2 2024, the Company completed a 525 line-km airborne drone-magnetic geophysical survey over a detailed grid on the western portion of the Joutel gold project to assist in the development of new drill targets along the western strike extent of the Eagle-Telbel stratigraphy.

In Q3 2024, the Company completed a lithogeochemical sampling program over its Morris volcanogenic massive sulphide (“VMS“) project, located 29 km east of Matagami, Québec. The program focused on the felsic volcanic rocks of the key Watson Lake formation which is present on the Morris project and is known to host the major VMS deposits within the Matagami mining camp. The Summer 2024 sampling program highlighted several areas of highly altered rhyolite, and the Company is developing plans for follow-up work in 2025.

Qualified Person

Ian Cunningham-Dunlop, P.Eng., Vice President, Technical Services of Maple Gold and a qualified person (“QP“) as defined by Canadian National Instrument 43-101, has reviewed and approved the scientific and technical information related to exploration and Mineral Resource matters contained in this news release.

About the Douay/Joutel Gold Project

The Douay/Joutel Gold Project is located adjacent to Highway 109 in the heart of the Abitibi greenstone belt, Canada’s premier gold mining jurisdiction (see Figure 1). This large, 100%-owned land package includes the multi-million ounce2 Douay Gold Project and the past-producing, high-grade Joutel Gold Mine Complex3. The Property contains ~400 km2 of highly prospective geology (see Figure 2) within the influence of the major gold-bearing CDBZ. Gold mines in the immediate region include the Casa Berardi Gold Mine operated by Hecla Mining Company and the Detour Lake Gold Mine operated by Agnico Eagle Mines Ltd. (see Figure 1).

About Maple Gold

Maple Gold Mines Ltd. is a Canadian advanced exploration company focused on advancing its 100%-owned, district-scale Douay and Joutel gold projects located in Québec’s prolific Abitibi Greenstone Gold Belt. The Douay/Joutel projects benefit from exceptional infrastructure access and boast ~400 km2 of highly prospective ground including an established gold mineral resource at Douay with significant expansion potential as well as the past-producing Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property, a key part of the historical Joutel Mining Complex.

Maple Gold’s property package also hosts a significant number of regional exploration targets along a 55-km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the property ripe for new gold and polymetallic discoveries. The Company is currently focused on carrying out exploration and drill programs to grow mineral resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.com.

ON BEHALF OF MAPLE GOLD MINES LTD.

“Kiran Patankar”

Kiran Patankar, President & CEO

For Further Information Please Contact:

Mr. Kiran Patankar
President & CEO
Tel: 604.639.2536
Email: kpatankar@maplegoldmines.com

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 PRESS RELEASE.

Forward-Looking Statements and Cautionary Notes:

This news release contains “forward-looking information” and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,”, “strategy”, “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. Forward-looking statements in this news release include, but are not limited to, statements about the resource expansion and discovery potential across the Company’s gold projects, and its intention to pursue such potential, and the Company’s exploration work and results from current and future work programs. Although the Company believes that forward-looking statements in this news release are reasonable, it can give no assurance that such expectations will prove to be correct, as forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future events on the date the statements are made and involve a number of risks and uncertainties. Consequently, actual events or results could differ materially from the Company’s expectations and projections, and readers are cautioned not to place undue reliance on forward-looking statements. For a more detailed discussion of additional risks and other factors that could cause actual results to differ materially from those expressed or implied by forward-looking statements in this news release, please refer to the Company’s filings with Canadian securities regulators available on the System for Electronic Document Analysis and Retrieval Plus (SEDAR+) at www.sedarplus.ca or the Company’s website at www.maplegoldmines.com. Except to the extent required by applicable securities laws and/or the policies of the TSX Venture Exchange, the Company undertakes no obligation to, and expressly disclaims any intention to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

________________________
1 For additional details, see the technical report for the Douay gold project entitled “Technical Report on the Douay and Joutel Projects Northwestern Québec, Canada Report for NI 43-101” prepared by SLR Consulting (Canada) Ltd. with an effective date of March 17, 2022, and dated April 29, 2022.
2 The Douay Project contains Indicated Mineral Resources estimated at 10 million tonnes at a grade of 1.59 g/t Au (containing 511,000 ounces of gold), and Inferred Mineral Resources estimated at 76.7 million tonnes at a grade of 1.02 g/t Au (containing 2,527,000 ounces of gold). See the technical report for the Douay Gold Project entitled “Technical Report on the Douay and Joutel Projects Northwestern Québec, Canada Report for NI 43-101″ prepared by SLR Consulting (Canada) Ltd. with an effective date of March 17, 2022, and dated April 29, 2022.
3 The Eagle, Eagle West and Telbel Gold Mines at Joutel were in production from 1974 to 1993 and produced 1.1 million ounces of gold at an average grade of 6.5 g/t Au (Agnico Eagle Mines Ltd. website)

info

SOURCE: Maple Gold Mines Ltd.

Nvidia and Tech Stocks Rally After Trump’s $500 Billion Stargate AI Announcement

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Nvidia shares rose over 4%, pushing its market cap to $3.58 trillion after the Stargate AI project announcement.
– The $500 billion initiative aims to secure U.S. dominance in AI infrastructure and job creation.
– Tech stocks rallied broadly, with Microsoft, Oracle, Arm, and SoftBank posting significant gains.

Nvidia stock surged by more than 4% on Wednesday, marking a significant leap following President Donald Trump’s announcement of the massive $500 billion Stargate AI initiative. The project, set to revolutionize the U.S. artificial intelligence landscape, represents one of the largest investments in AI infrastructure to date. Stargate is backed by industry giants including SoftBank, OpenAI, Oracle, and MGX, with OpenAI naming Nvidia, Microsoft, and chip designer Arm as key technology partners. The project aims to deploy $100 billion immediately, with a staggering $500 billion planned over the next four years, primarily to build colossal data centers that will power next-generation AI technologies.

The announcement catalyzed a rally across the technology sector, with Nvidia’s market capitalization climbing to $3.58 trillion, surpassing Apple’s $3.35 trillion valuation. Other major players in the industry followed suit, with Microsoft shares gaining 3.71%, Oracle increasing by 5.5%, and Arm surging by over 15%. SoftBank, a major financial backer of Stargate, saw its stock jump nearly 11%. Companies closely tied to Nvidia’s ecosystem, such as server manufacturers Dell and Super Micro Computer, also posted substantial gains of 7% and 6%, respectively. The broader tech-heavy Nasdaq responded positively, with futures climbing 1.4%, signaling widespread investor enthusiasm for the project.

President Trump highlighted the significance of the Stargate initiative, describing the forthcoming data centers as “colossal structures” that will provide thousands of jobs while strengthening America’s technological edge. He emphasized the need to maintain U.S. leadership in AI development, particularly amid rising competition with China. The announcement comes in the wake of executive orders from the Biden administration aimed at curbing AI chip exports to China and accelerating the domestic buildout of AI infrastructure. The Stargate project is seen as a direct response to these geopolitical challenges, positioning the U.S. as a leader in both innovation and economic growth driven by AI.

Despite the optimism, the initiative is not without challenges. Nvidia recently faced hurdles when major clients, including Amazon, Google, and Meta, canceled orders for its Blackwell AI chips due to issues such as glitches and overheating. This, combined with U.S. government restrictions on the export of AI chips, has raised questions about the company’s ability to maintain its growth trajectory. Furthermore, Tesla CEO Elon Musk expressed doubts about OpenAI’s financial capacity to support the ambitious Stargate project. In a post on his social media platform X, Musk noted that OpenAI reported a $5 billion loss in 2024 despite generating $3.7 billion in revenue.

Analysts, however, remain optimistic about the long-term impact of Stargate. Dan Ives of Wedbush described the project as a “critical juncture” for AI development in the U.S. and a strategic move in the high-stakes competition with China. The Stargate initiative not only promises to reshape the AI landscape but also underscores the growing importance of artificial intelligence in geopolitics and global economic strategy. With plans to build advanced infrastructure and create thousands of jobs, the project has the potential to drive significant innovation and solidify the U.S.’s position as a global leader in technology.

Nutriband (NTRB) – Initiating Coverage With An Outperform Rating And $13 Price Target

Posted on by cpereira@noblefcm.com


Wednesday, January 22, 2025

Robert LeBoyer, Senior Vice President, Equity Research Analyst, Biotechnology, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

We Are Initiating Coverage With An Outperform Rating. Nutriband, Inc. is a pharmaceutical company developing transdermal patch technologies for drug delivery. Its proprietary technology, known as AVERSA, has abuse-deterrent features with important differences from other transdermal patches on the market. The lead product is AVERSA Fentanyl, an abuse-deterrent transdermal patch for delivering fentanyl that improves safety, compliance, and patient comfort.

Only One Clinical Trial Is Required For the 505 (b)(2) New Drug Application. AVERSA Fentanyl can follow the 505(b)(2) regulatory pathway with only a single Phase 1 clinical abuse potential study required to support the new label claims. We expect this study to begin in 1H25, announce results in 2H25, and file an NDA around YE2025 to early 2026.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Townsquare Media (TSQ) – Preliminary Q4 Results Appear Promising

Posted on by cpereira@noblefcm.com


Wednesday, January 22, 2025

Townsquare is a community-focused digital media and digital marketing solutions company with market leading local radio stations, principally focused outside the top 50 markets in the U.S. Our assets include a subscription digital marketing services business, Townsquare Interactive, providing website design, creation and hosting, search engine optimization, social media and online reputation management as well as other digital monthly services for approximately 26,800 SMBs; a robust digital advertising division, Townsquare IGNITE, a powerful combination of a) an owned and operated portfolio of more than 330 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data, and b) a proprietary digital programmatic advertising technology stack with an in-house demand and data management platform; and a portfolio of 321 local terrestrial radio stations in 67 U.S. markets strategically situated outside the Top 50 markets in the United States. Our portfolio includes local media brands such as WYRK.com, WJON.com, and NJ101.5.com and premier national music brands such as XXLmag.com, TasteofCountry.com, UltimateClassicRock.com and Loudwire.com.

Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.

Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Preliminary Q4 results. The company announced preliminary Q4 results that were in-line with previously issued guidance. The company expects Q4 revenue to be in the range of $117 million – $119 million and adj. EBITDA to be approximately $31 million. Notably, the company’s digital segment is expected to increase revenue by 11% over the comparable year-earlier period.

In line results. The Q4 preliminary results exceed our revenue estimate of $115.0 million, and our adj. EBITDA estimate of $30.4 million. Preliminary results and our Q4 and full year 2024 forecasts are illustrated in Figure #1 & Figure #2, respectively.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Comstock Inc. (LODE) – Strategic Agreement with Hexas Biomass Supports Liquid Fuels Innovation and Commercialization

Posted on by cpereira@noblefcm.com


Wednesday, January 22, 2025

Comstock (NYSE: LODE) innovates technologies that contribute to global decarbonization and circularity by efficiently converting under-utilized natural resources into renewable fuels and electrification products that contribute to balancing global uses and emissions of carbon. The Company intends to achieve exponential growth and extraordinary financial, natural, and social gains by building, owning, and operating a fleet of advanced carbon neutral extraction and refining facilities, by selling an array of complimentary process solutions and related services, and by licensing selected technologies to qualified strategic partners. To learn more, please visit www.comstock.inc.

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Agreement with Hexas Biomass. Comstock Fuels executed an agreement with Hexas Biomass Inc. to acquire an exclusive worldwide license to Hexas’ intellectual properties in liquid fuels applications, subject to certain pre-existing agreements and relationships. Moreover, Hexas will provide development services in connection with Comstock Fuels’ site development and innovation activities. Comstock Fuels will invest $500,000 in Hexas to be paid in four tranches on January 15, January 31, February 28, and March 31, 2025.

High yield energy crops. Hexas has developed a portfolio of proprietary intellectual properties supporting the propagation, production, harvesting, and processing of purpose-grown energy crops with yields exceeding 25 to 30 dry metric tons per acre per year, or about 4 to 7 times the yields of traditional forestry species. 


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Century Lithium Corp. (CYDVF) – Setting the Stage for an Anchor Sodium Hydroxide Off-take Agreement

Posted on by cpereira@noblefcm.com


Wednesday, January 22, 2025

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Paving the way for an off-take agreement. Century Lithium recently executed a non-binding memorandum of understanding (MOU) to formalize a multi-year off-take agreement with Orica Specialty Chemicals to purchase sodium hydroxide from Century Lithium’s wholly owned Angel Island project. Orica is a leading mining and infrastructure solutions provider, the largest producer of sodium cyanide, and a supplier of specialty mining chemicals to Nevada’s mining industry.

Initial term of five years. The contemplated off-take agreement will have an initial term of five years and a right of first offer for an additional five years. It would account for a large portion of the surplus sodium hydroxide produced during the early years of the Angel Island project’s operation. A definitive agreement will contain pricing terms.


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Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Release – Kratos Receives $34.8M Contract for Valkyrie Mission System Integration

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on KTOS

SAN DIEGO, Jan. 21, 2025 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a Technology Company in Defense, National Security and Global Markets, announced today a $34,856,449 award modification to a previously awarded cost-plus-fixed-fee contract from the U.S. Marine Corps. The expanded scope is to support the XQ-58A Unmanned Aerial Systems mission systems and subsystems integration for the Marine Air-Ground Task Force Unmanned Aerial System Expeditionary (MUX) Tactical Aircraft (TACAIR).

Since 2022, Kratos and its industry partner, Northrop Grumman, have been working with the U.S. Marine Corps to define operational requirements for the MQ-58 Valkyrie variant. The team recently demonstrated advanced collaborative capabilities during the Penetrating Affordable Autonomous Collaborative Killer Portfolio (PAACK-P) program, which is transitioning to MUX TACAIR in 2025. The modification contract provides the additional non-recurring engineering and material to support the planned spiral developmental efforts, as well as additional flight tests for the continuing capability enhancement of the Valkyrie system.

Work under this contract will be performed in Sacramento, California, Oklahoma City, Oklahoma, China Lake, California and Patuxent River, Maryland.

Col Derek Brannon, Director of the HQ USMC Cunningham Group, said, “The U.S. Marine Corps is at the vanguard of collaborative combat aircraft (CCA) development and intends to field an operational CCA squadron with a tactically relevant aircraft equipped with effective, affordable mission system payloads.”

Steve Fendley, President of Kratos Unmanned Systems Division, said, “The Valkyrie is validating the thesis that uncrewed system development and evaluation can be executed at a fraction of the cost and schedule required for manned military jet aircraft systems. The immediate takeaway is recognizing that uncrewed systems can be teamed in the very near term with existing fielded manned aircraft—reducing risk and increasing effectiveness and life of the manned systems long before replacement or next generation manned systems can be fielded, not to mention afforded. It’s an incredible opportunity.”

The Kratos XQ-58A Valkyrie is a high-performance, runway-independent tactical unmanned aerial vehicle capable of long-range flights at high-subsonic speeds. Combining affordability, survivability, long-range, high-subsonic speeds, maneuverability and ability to carry flexible mission kit configurations and mix of lethal weapons from its internal weapons bay and wing stations, the XQ-58A provides unmatched operational flexibility at an affordable price for multiple DoD customers.

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a technology, products, system and software company addressing the defense, national security, and commercial markets. Kratos makes true internally funded research, development, capital and other investments, to rapidly develop, produce and field solutions that address our customers’ mission critical needs and requirements. At Kratos, affordability is a technology, and we seek to utilize proven, leading-edge approaches and technology, not unproven bleeding edge approaches or technology, with Kratos’ approach designed to reduce cost, schedule and risk, enabling us to be first to market with cost effective solutions. We believe that Kratos is known as an innovative disruptive change agent in the industry, a company that is an expert in designing products and systems up front for successful rapid, large quantity, low-cost future manufacturing which is a value-add competitive differentiator for our large traditional prime system integrator partners and also to our government and commercial customers. Kratos intends to pursue program and contract opportunities as the prime or lead contractor when we believe that our probability of win (PWin) is high and any investment required by Kratos is within our capital resource comfort level. We intend to partner and team with a large, traditional system integrator when our assessment of PWin is greater or required investment is beyond Kratos’ comfort level. Kratos’ primary business areas include virtualized ground systems for satellites and space vehicles including software for command & control (C2) and telemetry, tracking and control (TT&C), jet powered unmanned aerial drone systems, hypersonic vehicles and rocket systems, propulsion systems for drones, missiles, loitering munitions, supersonic systems, space craft and launch systems, C5ISR and microwave electronic products for missile, radar, missile defense, space, satellite, counter UAS, directed energy, communication and other systems, and virtual & augmented reality training systems for the warfighter. For more information, visit www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 31, 2023, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Claire Burghoff
claire.burghoff@kratosdefense.com

Investor Information:
877-934-4687
investor@kratosdefense.com

Primary Logo

Source: Kratos Defense & Security Solutions, Inc.

Release – LODE: Comstock Fuels Executes Agreement with Hexas Biomass

Posted on by dburczyk@noblecapitalmarkets.com

Research News and Market Data on LODE

Combines Pioneering Bioleum Refining Process with High Yield Energy Crops to Create Perpetual “Drop-In Permian Basins” with the Capacity for Domestic Energy Dominance 

OKLAHOMA CITY, OKLAHOMA – JANUARY 21, 2025 – Comstock Inc. (NYSE American: LODE) today announced that its subsidiary, Comstock Fuels Corporation (“Comstock Fuels”), a leader in advanced lignocellulosic technologies, has executed an agreement with Hexas Biomass Inc. (“Hexas”), securing exclusive rights to Hexas’ intellectual properties in liquid fuels applications, subject to certain pre-existing agreements and relationships.  

Domestic Energy Dominance

Comstock Fuels delivers advanced lignocellulosic biomass refining solutions that set industry benchmarks for production of renewable BioleumTM fuels at market-leading yields of up to 140 gallons per dry metric ton of feedstock (on a gasoline gallon equivalent basis, or “GGE”), depending on feedstock, site conditions, and other process parameters.

Hexas has developed a suite of proprietary intellectual properties for the propagation, production, harvesting, and processing of purpose grown energy crops with proven yields exceeding 25 to 30 dry metric tons per acre per year, or about 4 to 7 times the yields of traditional forestry species. Hexas crops are specifically designed to thrive in diverse environments, including marginal or underutilized lands, that complement and enhance the current agricultural ecosystem without disrupting or competing with food production.

The combination of Comstock Fuels’ high yield Bioleum refining platform and Hexas’ high yield energy crops allows for the production of enough feedstock to produce upwards of 100 barrels of fuel per acre per year, effectively transforming marginal agricultural lands into perpetual “drop-in sedimentary oilfields” with the potential to dramatically boost domestic energy independence and expand and elevate rural economies while using regenerative agricultural practices. For comparison, producers of soy and corn only net about 2 and 10 barrels of biofuel per acre per year, respectively.

The New Standard in Oil

“The U.S. DOE has previously estimated that America can produce upwards of one billion tons per year of biomass for conversion into transportation fuels,” said Kevin Kreisler, Comstock Fuels’ chief technology officer. “That’s enough to produce more than 3 billion barrels of fuel per year with our refining solutions. Converting just 5% of America’s agricultural lands, or about 40 million acres, into profitable fuel farms with Hexas’ high yield energy crops would double that output with Bioleum fuels, thereby filling America’s entire annual oil demand for energy and transportation while contributing to extraordinary prosperity across rural American industrial and farming communities.”

Comstock Fuels plans to partner with oil producers and enable domestic energy dominance by directly building, owning, and operating a network of U.S. Bioleum Refineries. Comstock Fuels plans to demonstrate the remarkable economic and other incentives of its solutions at scale with a 75,000 metric ton per year commercial demonstration facility in Oklahoma, which is now also planned to include a local 5,000-acre fuel farm based on the Hexas energy crop technologies.

Transformative Development Opportunity

“At Hexas, we believe in making the highest and best use of natural resources,” added Wendy Owens, Hexas’ chief executive officer. “This includes providing industries with access to abundant, carbon negative, and ecologically positive feedstocks. Our philosophical and strategic alignment with Comstock leverages two quality-minded systems capable of sustainable, global, natural, social and financial impact. We are ready to integrate and deploy our capacity and solutions into what should quickly prove out to be a truly carbon negative impact in liquid fuels.”

“Including an embedded feedstock model in our system provides unprecedented benefits to our renewable fuel solutions, supply chains and partners,” added David Winsness, Comstock Fuels’ president. “While our solutions are designed to process most known forms of lignocellulosic biomass, the Hexas technologies now allow us to “anchor” each of our owned and licensed Bioleum Refineries with a captive, perpetual feedstock supply, ensuring the reliability, consistency, scale, and pricing needed to mitigate risk and maximize profitability. Existing project developers and producers should consider this announcement as an open call to partner with us to change their process technologies and elevate their solutions.”

Kreisler concluded, “Our ultimate ambition is to build shareholder value by systemically empowering agricultural, forestry, pulp and paper, renewable fuels, petroleum, energy, and mobility stakeholders to license and deploy our solutions across their respective industries at speeds that are far greater than any single company could ever achieve. We are laser focused on enabling that system, and we couldn’t be more excited to partner with Hexas and its remarkable team.” 

The new agreement also calls for a $500,000 strategic investment into Hexas from Comstock Fuels and for the two companies to execute a joint development agreement to collaborate on site development activities for planned Bioleum Refineries and further innovations for Comstock Fuels.

About Hexas Biomass Inc.

Hexas Biomass Inc. (“Hexas”) produces purpose grown plant-based feedstock solutions from proprietary varieties of a giant perennial grasses, including XanoGrass™ to produce XanoFiber™. XanoGrass™ is a perennial, fast growing, extremely high yielding biomass that is pest resistant, with remarkably wide climate and soil type adaptions that supplements traditional feedstocks at equal or better performances and lowers costs while leveraging existing infrastructures.

About Comstock Fuels Corporation

Comstock Fuels Corporation (“Comstock”) delivers advanced lignocellulosic biomass refining solutions that set industry benchmarks for production of cellulosic ethanol, gasoline, renewable diesel, sustainable aviation fuel (“SAF”), and other renewable fuels, with extremely low carbon intensity scores of 15 and market-leading yields of up to 140 gallons per dry metric ton of feedstock (on a gasoline gallon equivalent basis, or “GGE”), depending on feedstock, lignin content, site conditions, and other process parameters. Comstock plans to contribute to domestic energy dominance by directly building, owning, and operating a network of Bioleum Refineries in the U.S. to refine 50 million tons of biomass annually into 8 billion gallons of renewable fuel by 2035, starting with its first 75,000 TPY commercial demonstration facility in Oklahoma. Comstock also licenses its advanced refining solutions to third parties for additional production in the U.S. and global markets, including several recently announced and other pending projects. To learn more, please visit www.comstockfuels.com.

About Comstock Inc.

Comstock Inc. (NYSE: LODE) innovates and commercializes technologies that are deployable across entire industries to contribute to energy abundance by efficiently extracting and converting under-utilized natural resources, such as waste and other forms of woody biomass into renewable fuels, and end-of-life electronics into recovered electrification metals. Comstock’s innovations group is also developing and using artificial intelligence technologies for advanced materials development and mineral discovery for sustainable mining. To learn more, please visit www.comstock.inc.

Comstock Social Media Policy

Comstock has used, and intends to continue using, its investor relations link and main website at www.comstock.inc in addition to its Twitter, LinkedIn and YouTube accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.

Contacts

For investor inquiries:
RB Milestone Group LLC
Tel (203) 487-2759
ir@comstockinc.com

For media inquiries or questions:
Comstock Inc., Tracy Saville
Tel (775) 847-7573
media@comstockinc.com

Forward-Looking Statements

This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “estimate,” “project,” “plan,” “should,” “intend,” “may,” “will,” “would,” “potential” and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future explorations or acquisitions; future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.

Release – Townsquare Media, Inc. Reports Preliminary Estimated 2024 Results

Posted on by aweinsoff@channelchek.com

Research News and Market Data on TSQ

January 21, 2025

PURCHASE, N.Y., Jan. 21, 2025 (GLOBE NEWSWIRE) — Townsquare Media, Inc. (NYSE: TSQ) (“Townsquare”, the “Company,” “we,” “us,” or “our”) announced today preliminary estimated financial results for the fourth quarter and full year ended December 31, 2024.

“We are pleased to pre-announce our fourth quarter and full year 2024 estimated results that are directly in-line with the expectations and guidance we had previously outlined on our third quarter earnings call. We expect full year net revenue will be between $450 million and $452 million, within our guidance range of $448 million to $452 million. Therefore, we expect fourth quarter net revenue will be between $117 million and $119 million. In addition, we expect full year 2024 Adjusted EBITDA will be approximately $100 million, within our guidance range of $100 million to $101 million. Therefore, we expect fourth quarter Adjusted EBITDA will be approximately $31 million,” commented Bill Wilson, Chief Executive Officer of Townsquare Media, Inc. “As anticipated, our digital divisions had a very strong fourth quarter, as Townsquare Interactive returned to year-over-year revenue growth, and Digital Advertising net revenue accelerated to year-over-year growth rates in excess of +15%, helped by national digital advertising returning to revenue growth together with ongoing strength in our digital programmatic business. In total, we expect fourth quarter Digital revenue to increase approximately +11% year-over-year, and represent 52% of Townsquare’s net revenue in 2024, a true point of differentiation from others in local media, as we have evolved from a local broadcast radio company that was founded in 2010, to a Digital First Local Media Company with a world class team and a unique and differentiated strategy, assets, platforms and solutions. Further, we could not be more pleased to share that we are continuing to expand our Media Partnerships division, whereby we provide a white-label service that equips other local media companies with the digital advertising solutions that have driven Townsquare’s success. Following our October 2024 announcement that we partnered with SummitMedia, who operates in nine markets that do not overlap with Townsquare’s footprint, we have recently entered an agreement with another local media provider who operates in two additional non-overlapping markets. We expect that partnership to launch this summer.”

Mr. Wilson continued, “Given the cash generative nature of our business and our strong cash position, we were able to repurchase and retire approximately $12 million of our Senior Secured Notes in the fourth quarter (and $36 million in total in 2024), ending the year with $467 million of debt and $33 million of cash on hand. The combination of our healthy balance sheet, ongoing digital strength and momentum, Digital First Local Media strategy, and focus on markets outside of the Top 50 U.S. cities, reinvigorates my confidence in our business model and our path to long-term, sustainable growth and success.”

The information presented herein is based on internally available financial information that has not been audited or subject to regular period end closing procedures. As such, the financial guidance presented above reflects various assumptions and estimates based only upon information available to management as of the date hereof. This information should not be viewed as a substitute for full audited financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). As a result, while this information is presented with ranges and approximations that management considers to be reasonable, it remains in all cases subject to change pending finalization. It is very difficult to predict the impact of known factors and it is impossible for the Company to anticipate all factors that could affect its actual results. Actual results may differ materially from the estimates presented above due to developments or other information that may arise between now and the time the financial results for the fourth quarter and fiscal year are finalized. Therefore, you should not place undue reliance on estimated financial information provided herein, which speaks only as of the date hereof. Estimates of results are inherently uncertain and subject to change, and the Company does not undertake any obligation to update this information. The Company’s independent registered public accounting firm, BDO USA, P.C., has not audited, reviewed, compiled or performed any procedures with respect to any of the estimated financial information. Accordingly, BDO USA, P.C. does not express an opinion or any other form of assurance with respect thereto. The preliminary estimated financial information for the quarter and year ended December 31, 2024 is not necessarily indicative of the results to be achieved in any future period.

About Townsquare Media, Inc.

Townsquare is a community-focused digital media and digital marketing solutions company with market leading local radio stations, principally focused outside the top 50 markets in the U.S. Our assets include a subscription digital marketing services business, Townsquare Interactive, providing website design, creation and hosting, search engine optimization, social media and online reputation management as well as other digital monthly services for SMBs; a robust digital advertising division, Townsquare Ignite, a powerful combination of a) an owned and operated portfolio of more than 400 local news and entertainment websites and mobile apps along with a network of leading national music and entertainment brands, collecting valuable first party data and b) a proprietary digital programmatic advertising technology stack with an in-house demand and data management platform; and a portfolio of 345 local terrestrial radio stations in 74 U.S. markets strategically situated outside the Top 50 markets in the United States. Our portfolio includes local media brands such as WYRK.com, WJON.com and NJ101.5.com, and premier national music brands such as XXLmag.com, TasteofCountry.com, UltimateClassicRock.com, and Loudwire.com. For more information, please visit www.townsquaremedia.com, www.townsquareinteractive.com and www.townsquareignite.com.

Forward-Looking Statements
Except for the historical information contained in this press release, the matters addressed are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often discuss our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “aim,” “anticipate,” “estimate,” “expect,” “forecast,” “outlook,” “potential,” “project,” “projection,” “plan,” “intend,” “seek,” “believe,” “may,” “could,” “would,” “will,” “should,” “can,” “can have,” “likely,” the negatives thereof and other words and terms. Actual events or results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors. While it is impossible to identify all such factors, factors that could cause actual results to differ materially from those estimated by us include the impact of general economic conditions in the United States, or in the specific markets in which we currently do business including supply chain disruptions, inflation, labor shortages and the effect on advertising activity, industry conditions, including existing competition and future competitive technologies, the popularity of radio as a broadcasting and advertising medium, cancellations, disruptions or postponements of advertising schedules in response to national or world events, our ability to develop and maintain digital technologies and hire and retain technical and sales talent, our dependence on key personnel, our capital expenditure requirements, our continued ability to identify suitable acquisition targets, and consummate and integrate any future acquisitions, legislative or regulatory requirements, risks and uncertainties relating to our leverage and changes in interest rates, our ability to obtain financing at times, in amounts and at rates considered appropriate by us, our ability to access the capital markets as and when needed and on terms that we consider favorable to us and other factors discussed in “Risk Factors” and “Forward-Looking Statements” in our 2023 Annual Report on Form 10-K, for the year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”) on March 15, 2024, as well as other risks discussed from time to time in our filings with the SEC. Many of these factors are beyond our ability to predict or control. In addition, as a result of these and other factors, our past financial performance should not be relied on as an indication of future performance. The cautionary statements referred to in this section also should be considered in connection with any subsequent written or oral forward-looking statements that may be issued by us or persons acting on our behalf. The forward-looking statements included in this press release are made only as of the date hereof or as of the date specified herein. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Non-GAAP Financial Measures and Definitions
In this press release, we refer to Adjusted EBITDA, which is a financial measure that has not been prepared in accordance with GAAP.

We define Adjusted EBITDA as net income before the deduction of income taxes, interest expense, net, gain on repurchases of debt, transaction and business realignment costs, depreciation and amortization, stock-based compensation, impairments, net loss (gain) on sale and retirement of assets and other expense (income) net. This measure does not represent, and should not be considered as an alternative to or superior to, financial results and measures determined or calculated in accordance with GAAP. In addition, this non-GAAP measure is not based on any comprehensive set of accounting rules or principles. You should be aware that in the future we may incur expenses or charges that are the same as or similar to some of the adjustments in the presentation, and we do not infer that our future results will be unaffected by unusual or non-recurring items. In addition, this non-GAAP measure may not be comparable to similarly-named measures reported by other companies. Net income, the most directly comparable GAAP measure to Adjusted EBITDA, and a reconciliation of Adjusted EBITDA to net income are not included herein because we are not able to estimate certain components of these measures without unreasonable effort. In addition, the Company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors. The variability of the specified items may have a significant and unpredictable impact on our future GAAP results.

We use Adjusted EBITDA to facilitate company-to-company operating performance comparisons by backing out potential differences caused by variations in capital structures (affecting interest expense), taxation and the age and book depreciation of facilities and equipment (affecting relative depreciation expense), which may vary for different companies for reasons unrelated to operating performance. We believe that this measure, when considered together with our GAAP financial results, provides management and investors with a more complete understanding of our business operating results, including underlying trends, by excluding the effects of transaction costs, net loss (gain) on sale and retirement of assets, business realignment costs and certain impairments. Further, while discretionary bonuses for members of management are not determined with reference to specific targets, our board of directors may consider Adjusted EBITDA when determining discretionary bonuses.

Investor Relations
Claire Yenicay
(203) 900-5555
investors@townsquaremedia.com

Trump’s Tariff Plan: A Bold Shift in North American Trade Policy

Posted on by slightbourne@noblecapitalmarkets.com
Key Points:
– Trump plans 25% tariffs on Mexico and Canada starting February 1.
– Critics warn of inflation and trade retaliation risks.
– Supporters see tariffs as a tool to protect U.S. industries.

President Donald Trump has announced plans to impose 25% tariffs on Mexico and Canada starting February 1, signaling a dramatic shift in North American trade policy. The move, revealed during an Oval Office signing ceremony, marks a stark departure from the United States-Mexico-Canada Agreement (USMCA) established during Trump’s first term. This decision could lead to higher prices for American consumers and significant changes in trade dynamics with two of the United States’ largest trading partners.

The executive action signed by Trump directs federal agencies to investigate the causes of U.S. trade deficits, evaluate the impact of existing trade agreements, and explore ways to implement stricter trade policies. Among the areas of focus is the USMCA, which the administration will assess to determine whether the agreement adequately serves American workers and businesses. The action also emphasizes the administration’s commitment to reducing the flow of fentanyl and undocumented migrants into the U.S. by leveraging stricter trade measures.

Trump’s proposal to overhaul trade policy aligns with his “America First” agenda, which seeks to prioritize American manufacturers, farmers, and workers. In his inaugural address, Trump emphasized the need to shift the burden of taxation from American citizens to foreign nations through tariffs. The administration’s aim to establish an “External Revenue Service” to collect tariffs further underscores the president’s commitment to this vision. However, the exact mechanisms for implementing these sweeping changes remain under debate within the administration.

Critics argue that imposing such high tariffs could backfire, harming the U.S. economy and straining relationships with key trading partners. Mexico and Canada collectively accounted for 30% of all U.S. imports in 2024, and retaliatory tariffs could impact American exports, particularly in industries like agriculture, automotive, and manufacturing. Economists warn that these measures could also exacerbate inflation, raising costs for American consumers already grappling with economic pressures.

Proponents of the tariff plan argue that import taxes could serve as a strategic tool to protect domestic industries and strengthen the U.S. economy in the long run. Trump has historically used tariff threats to bring foreign nations to the negotiating table, achieving concessions in trade agreements. However, the administration’s current stance has sparked concerns about potential trade wars and the broader implications for global trade relations.

The ideological divide within Trump’s economic team reflects ongoing debates about the best approach to achieve the administration’s goals. Some advisers advocate for a gradual implementation of tariffs to allow time for negotiations, while others support immediate and comprehensive measures to send a strong message. The legal basis for the tariffs, including the possible use of emergency powers, remains a key area of discussion.

As the February 1 deadline approaches, businesses and consumers are bracing for the potential impact of these tariffs. Analysts predict higher costs for imported goods, including electrical devices, transportation equipment, and everyday consumer products. Retaliatory measures from Mexico and Canada could further disrupt supply chains and affect industries reliant on cross-border trade.

The ultimate success of Trump’s trade policy will depend on its execution and the administration’s ability to navigate the complexities of international trade. While the president remains committed to fulfilling his campaign pledges, the long-term consequences of these tariffs on the U.S. economy and global trade landscape remain uncertain. Investors, businesses, and consumers alike will be closely watching as the situation unfolds.