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.
Strong Q2 Results. The company reported strong Q2 results. Revenue of $119.9 million, and adj. EBITDA of $20.7 million, both easily surpassed our estimates of $97.0 million and $7.0 million, respectively, as illustrated in Figure #1 Q2 Results. Notably, management attributed the strong quarter to an increase in consumable in-app purchases, which are recognized during the quarter rather than being deferred over the average player life cycle of 28 months.
Key operating metrics. Bookings and monthly paying users (MPU) decreased by 14% and 18%, respectively, compared to the prior year period, but the decrease was expected as the company is focused on the quality of gameplay and not over-monetizing its user base. However, the company is showing signs of returning to growth as both average bookings per paying user (ABPPU) and MPUs increased sequentially from Q1. ABPPU increased from $90 in Q1’25 to $93 in Q2’25, and MPUs increased from 284,000 to 312,000 over the same period.
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.
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.
LIFE offering closed. Century Lithium closed the second and final tranche of its financing under the Listed Issuer Financing Exemption (LIFE). Together with the initial closing, the company issued a total of 15,785,833 units for aggregate gross proceeds of C$4,735,749.90. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of C$0.45 for a period of 60 months following the issuance of the units.
Use of net proceeds. Net proceeds from the financing will be used to complete an updated feasibility study for the company’s Angel Island Lithium Project, complete the project’s Plan of Operations, work towards National Environmental Policy Act (NEPA) compliance, and fund general working capital.
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.
Kraft Heinz is officially dismantling a decade-old experiment in consumer goods consolidation, announcing plans to split into two publicly traded companies. The breakup, slated for completion in the second half of 2026, will create one company focused on sauces and spreads and another dedicated to grocery staples and ready-to-eat meals.
The move reflects a growing trend among global consumer brands, which are abandoning the diversified conglomerate model in favor of sharper focus, simplified structures, and more direct accountability. For Kraft Heinz, the decision comes after years of lagging sales, weak innovation, and declining brand equity despite its stable of iconic products.
Investors reacted cautiously, sending shares down more than 7% in Tuesday trading. While the spinoff has long been anticipated, markets remain skeptical about whether separating the businesses can meaningfully address underlying challenges. Analysts suggest the split could unlock near-term value, but note that execution risks remain high, particularly as private-label competition intensifies and consumer preferences continue shifting toward fresher, healthier options.
The grocery division, which will include brands such as Oscar Mayer and Lunchables, will be led by current CEO Carlos Abrams-Rivera. The sauces and spreads business, housing household names like Heinz ketchup, Philadelphia cream cheese, and Kraft Mac & Cheese, will operate under new leadership yet to be appointed. Together, the two companies generated more than $25 billion in combined sales in 2024.
The separation is also the latest chapter in what has become one of the more disappointing large-scale mergers in recent memory. The 2015 tie-up of Kraft Foods and Heinz, engineered with backing from Warren Buffett’s Berkshire Hathaway and private equity firm 3G Capital, was initially valued at $45 billion. The strategy relied heavily on cost-cutting, but growth never materialized as hoped. Today, Kraft Heinz carries a market value closer to $33 billion, with shares losing roughly 60% since the merger.
Even Buffett, one of the original architects of the deal, has expressed regret over the outcome. While acknowledging that splitting the company could simplify operations, he suggested the decision is unlikely to fix long-standing performance issues without deeper changes. His investment firm recently booked a multibillion-dollar write-down on its stake in the company.
Strategically, management argues the breakup will allow each entity to prioritize resources, pursue innovation, and scale its most promising categories. The company estimates separation costs of up to $300 million, but believes efficiencies will offset much of the expense. Still, industry analysts caution that Kraft Heinz’s core problem—relevance with consumers—will not be solved by structural changes alone.
The decision comes as the packaged foods industry undergoes broad realignment. Rivals such as Nestlé and PepsiCo are also facing shareholder pressure to streamline portfolios and accelerate growth. Meanwhile, recent moves like Keurig Dr Pepper’s planned $18 billion takeover of JDE Peet’s illustrate how sector leaders are experimenting with restructuring to remain competitive.
For Kraft Heinz, the split represents both an admission of past missteps and a chance to reset its trajectory. Whether investors will ultimately view the move as a turning point or a temporary lift will depend on how successfully each business can adapt in a crowded, fast-changing marketplace.
CALGARY, AB, September 2, 2025 /CNW/ – InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to confirm that its Board of Directors has declared a monthly cash dividend of $0.09 per common share payable on September 30, 2025, to shareholders of record at the close of business on September 15, 2025. The monthly cash dividend is expected to be designated as an “eligible dividend” for Canadian federal and provincial income tax purposes.
About InPlay Oil Corp.
InPlay is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQX Exchange under the symbol IPOOF.
For further information please contact: Doug Bartole, President and Chief Executive Officer, InPlay Oil Corp., Telephone: (587) 955-0632; Darren Dittmer, Chief Financial Officer, InPlay Oil Corp., Telephone: (587) 955-0634
Luxembourg, Grand Duchy of Luxembourg, September 2, 2025 – (GLOBE NEWSWIRE) Codere Online (Nasdaq: CDRO / CDROW, the “Company”), a leading online gaming operator in Spain and Latin America, today announced that Oscar Iglesias, the Company’s Chief Financial Officer, notified the Company of his decision to step down from his role for personal reasons, effective upon the earlier of the completion of an orderly transition to his successor or December 31, 2025.
In connection with the transition and subject to shareholder approval, the Company’s Board of Directors (the “Board”) shall appoint Mr. Iglesias to the Board, where he formerly served between 2021 and 2023 and where he will remain actively engaged in driving Codere Online’s strategic direction.
Mr. Iglesias has been with Codere Online since 2021 and has played a central role in its growth and transformation. Among his many contributions, he was instrumental in leading the Company through its successful 2021 public listing via a merger with DD3 Acquisition Corp. II, thereby strengthening its capital position and enhancing its visibility in the market. Prior to that, Mr. Iglesias spent six years at Codere Group, Codere Online’s parent company, where he served as Global Head of Corporate Development and Deputy CFO.
“We are grateful to Oscar for his leadership and dedication over the past decade,” said Gonzaga Higuero, Chairman of the Board. “He has been a trusted partner and a driving force behind our journey from a private company to a Nasdaq-listed organization. We are pleased that he will remain closely involved with the Company as a member of our Board.”
Mr. Iglesias added: “I am very proud of what we have accomplished together, having successfully delivered on the plan we set out to investors in 2021. While I have made the personal decision to move on from a day-to-day role in the Company, I look forward to continue supporting Codere Online as both a Board member and shareholder of the Company.”
The Company has initiated a search process to identify a new Chief Financial Officer and is committed to a seamless transition.
About Codere Online Codere Online refers, collectively, to Codere Online Luxembourg, S.A. and its subsidiaries. Codere Online launched in 2014 as part of the renowned casino operator Codere Group. Codere Online offers online sports betting and online casino through its state-of-the art website and mobile applications. Codere currently operates in its core markets of Spain, Mexico, Colombia, Panama and Argentina. Codere Online’s online business is complemented by Codere Group’s physical presence in Spain and throughout Latin America, forming the foundation of the leading omnichannel gaming and casino presence.
About Codere Group Codere Group is a multinational group devoted to entertainment and leisure. It is a leading player in the private gaming industry, with four decades of experience and with presence in seven countries in Europe (Spain and Italy) and Latin America (Argentina, Colombia, Mexico, Panama, and Uruguay).
Forward-Looking Statements Certain statements in this document may constitute “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding Codere Online Luxembourg, S.A. and its subsidiaries (collectively, “Codere Online”) or Codere Online’s or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this document may include, for example, statements about Codere Online’s financial performance and, in particular, the potential evolution and distribution of its net gaming revenue; any prospective and illustrative financial information; and changes in Codere Online’s strategy, future operations and target addressable market, financial position, estimated revenues and losses, projected costs, prospects and plans.
These forward-looking statements are based on information available as of the date of this document and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing Codere Online’s or its management team’s views as of any subsequent date, and Codere Online does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
As a result of a number of known and unknown risks and uncertainties, Codere Online’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. There may be additional risks that Codere Online does not presently know or that Codere Online currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Some factors that could cause actual results to differ include (i) changes in applicable laws or regulations, including online gaming, privacy, data use and data protection rules and regulations as well as consumers’ heightened expectations regarding proper safeguarding of their personal information, (ii) the impacts and ongoing uncertainties created by regulatory restrictions, changes in perceptions of the gaming industry, changes in policies and increased competition, and geopolitical events such as war, (iii) the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities, (iv) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Codere Online operates, (v) the risk that Codere Online and its current and future collaborators are unable to successfully develop and commercialize Codere Online’s services, or experience significant delays in doing so, (vi) the risk that Codere Online may never achieve or sustain profitability, (vii) the risk that Codere Online will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all, (viii) the risk that Codere Online experiences difficulties in managing its growth and expanding operations, (ix) the risk that third-party providers, including the Codere Group, are not able to fully and timely meet their obligations, (x) the risk that the online gaming operations will not provide the expected benefits due to, among other things, the inability to obtain or maintain online gaming licenses in the anticipated time frame or at all, (xi) the risk that Codere Online is unable to secure or protect its intellectual property, and (xii) the possibility that Codere Online may be adversely affected by other political, economic, business, and/or competitive factors. Additional information concerning certain of these and other risk factors is contained in Codere Online’s filings with the U.S. Securities and Exchange Commission (the “SEC”). All subsequent written and oral forward-looking statements concerning Codere Online or other matters and attributable to Codere Online or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
U.S. Treasury yields rose sharply on Tuesday, September 2, 2025, as long-dated European bonds sold off and a busy slate of corporate debt offerings pressured markets. The 30-year Treasury yield approached the 5% mark, reflecting investor concern over the trajectory of U.S. monetary policy and broader economic conditions.
The move came as traders returned from the holiday weekend, digesting weak ISM manufacturing data that signaled softness in employment, overall activity, and prices paid, although new orders showed some recovery. Benchmark Treasury yields climbed roughly three basis points across the curve, with the 10-year and 30-year notes leading the advance. Block trades, including a large buyer of 10,000 10-year note contracts, helped stabilize yields near their session highs.
Yields in the United Kingdom and Europe also surged, contributing to pressure on U.S. debt markets. Analysts suggest that global long-term rates are recalibrating in response to rising inflation expectations abroad and uncertainties in policy direction. John Briggs, head of U.S. rates strategy at Natixis North America, noted that the 30-year approaching 5% is not a “magical number” but reflects genuine concerns about the path of long-dated bonds globally.
Investors are pricing in expectations for a potential Federal Reserve interest rate cut this month, though bets remain modest. Currently, futures indicate roughly 22 basis points of a quarter-point reduction at September’s meeting, with slightly more than two total quarter-point cuts priced by year-end. Analysts caution that the magnitude of easing will depend heavily on the August jobs report due Friday, which will offer a key read on the labor market and economic momentum.
The labor market is central to the Fed’s policy outlook. Governor Christopher Waller has expressed support for a 25-basis-point rate cut at the September meeting, but signaled that more aggressive easing could be warranted if employment data show pronounced weakness and inflation remains contained. Economists surveyed by Bloomberg anticipate August payrolls rose by only 75,000, with the unemployment rate inching up to 4.3%.
Kathy Jones, chief fixed income strategist at Charles Schwab, emphasized that Treasury yields are pricing in uncertainty about the Fed’s next moves. She highlighted the market’s sensitivity to coherent policy signals and the potential for the jobs report to influence the term premium, particularly in longer maturities.
The spike in yields has important implications for investors and corporations alike. Higher long-term rates increase borrowing costs for issuers and can weigh on equity valuations, particularly for growth and rate-sensitive sectors. Conversely, rate volatility may offer opportunities for fixed-income investors to adjust portfolios in anticipation of potential Fed easing.
Traders also note that September is historically a weak month for long-dated interest-rate exposure, which could compound volatility as markets digest both domestic and international developments. Any deviation from expectations in the jobs report or inflation metrics could sharply alter Treasury pricing and market sentiment.
As the week progresses, all eyes will be on Friday’s employment figures, which are expected to set the tone for the Fed’s September policy decision. Until then, Treasury markets remain on edge, balancing global pressures, domestic economic signals, and uncertainty around the central bank’s path forward.
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.
Second quarter financial results. Nicola Mining Inc. (OTCQB: HUSIF, TSX.V: NIM) reported net income of C$1,181,286, or C$0.01 per share, compared to a net loss of C$2,519,885, or C$(0.02) per share, during the second quarter of 2024. We had projected a net loss of C$1,077,068, or C$(0.01) per share. The variance to our estimate was mostly due to a revaluation gain on marketable securities. We increased our 2025 net income and EPS estimates to C$11,004,631 and C$0.06 per share, respectively, from C$7,582,855 and C$0.04. We updated our commodity price assumptions based on actual July and August pricing and CME futures settlements for the remainder of 2025 and 2026.
Merritt Mill is ramping up production. With 200 tonnes per day of capacity, Nicola’s Merritt Mill is transitioning to full commercial production and cash flow generation. Nicola expects to utilize 100% of the mill’s capacity by the end of the third quarter. In early July, the Merritt Mill began processing ore received from Talisker Resources’ (OTCQX: TSKFF, TSX: TSK) Bralorne project. In addition to processing ore for Talisker, ore is expected to be received during the third quarter from Blue Lagoon’s (OTCQB: BLAGF, CSE: BLLG) Dome Mountain gold mine, and from the Dominion Creek Gold Project, of which Nicola owns a 75% economic interest.
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.
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
2Q25 Results. MustGrow reported record second quarter revenue of $2.8 million in 2Q25, compared to no revenue in the same period last year. Revenue was driven by the NexusBioAg segment, although TerraSante sales amounted to $318,832. Gross margin improved to 20.9%, up from 14.3% in the first quarter of 2025. MustGrow recorded a net loss of $1.1 million, or a loss of $0.02/sh in 2Q25, compared to a net loss of $0.96 million, or a loss of $0.02/sh, in 2Q24.
TerraSante. Initial sales ramp up of TerraSante has begun, with $318,832 of sales in the quarter, or triple its full year 2024 sales. MustGrow sold out of its TerraSante inventory in the U.S during the quarter. The improved TerraSante sales were a key driver in gross margin improvement. MustGrow is working on producing more TerraSante to meet demand.
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.
U.S. stocks slipped on Friday as investors locked in profits heading into the long weekend, but the pullback wasn’t enough to erase August’s gains. The S&P 500 retreated 0.7% after notching a fresh record earlier in the week, while the Nasdaq Composite dropped 1.2% and the Dow Jones Industrial Average fell 123 points, or 0.3%.
Despite the losses, August remains another winning month for equities. The Dow is tracking a roughly 3% gain, the S&P 500 is up nearly 2%, and the Nasdaq has advanced more than 1%. That would mark the fourth consecutive month of gains for the broad market index, underscoring investor resilience even as inflation data and policy uncertainty remain in focus.
A key driver of Friday’s caution was the latest reading of the Federal Reserve’s preferred inflation gauge. Core Personal Consumption Expenditures (PCE) rose 2.9% year-over-year in July, matching expectations but accelerating from the prior month. The increase, the highest since February, highlighted ongoing price pressures just as the Fed prepares for its September policy meeting.
While inflation remains sticky, market consensus still points to a rate cut next month. Analysts note that the Fed is increasingly balancing inflation concerns against signs of cooling in the labor market. For now, many strategists believe the central bank will move forward with a cut, although the pace and magnitude of easing remain open questions.
Friday’s weakness also came against the backdrop of strong recent performance, leading some to view the decline as simple profit-taking. The S&P 500 had just closed above the 6,500 level for the first time, and investors often trim positions after fresh highs ahead of holiday weekends.
Earnings season added another layer to the cautious mood. Nvidia, which recently reported 56% revenue growth and reaffirmed its position at the center of the AI trade, slid 3% as traders digested headlines about China’s Alibaba developing a more advanced chip. The update raised questions about long-term competition and underscored the geopolitical risks surrounding U.S. technology exports.
Elsewhere, tariff worries resurfaced after Caterpillar warned of a potential $1.5 billion to $1.8 billion hit this year from new U.S. trade measures. Retailer Gap also flagged pressure on profits, highlighting how trade policy remains a headwind for corporate America.
Looking ahead, September looms as a potential test for the rally. Historically, the month has been the weakest for stocks, with the S&P 500 averaging a 0.7% decline since 1950, according to The Stock Trader’s Almanac. Bespoke Investment Group notes that the index has posted especially lackluster September performances over the past decade.
Still, momentum heading into the new month suggests investors are willing to look past near-term headwinds. With inflation cooling gradually, the Fed leaning toward easing, and earnings broadly holding up, the market may find support even as seasonal trends turn less favorable.
NEW YORK–(BUSINESS WIRE)–Vince Holding Corp., (NYSE: VNCE) (“VNCE” or the “Company”), a global contemporary retailer, today announced that it plans to report its second quarter 2025 financial results post-market on Wednesday, September 10, 2025. The Company also plans to hold a conference call to discuss its financial results on the same day at 4:30 p.m. ET. During the conference call, the Company may answer questions concerning business and financial developments, trends and other business or financial matters. The Company’s responses to these questions, as well as other matters discussed during the conference call, may contain or constitute information that has not been previously disclosed.
Those who wish to participate in the call may do so by dialing 833-470-1428, conference ID 030527. Any interested party will also have the opportunity to access the call via the Internet at http://investors.vince.com/. To listen to the live call, please go to the website at least 15 minutes early to register and download any necessary audio software. For those who cannot listen to the live broadcast, a recording will be available for 12 months after the date of the event. Recordings may be accessed at http://investors.vince.com/.
ABOUT VINCE HOLDING CORP. 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 44 full-price retail stores, 14 outlet stores, and its e-commerce site, vince.com, as well as through premium wholesale channels globally. Please visit www.vince.com for more information.
SASKATOON, Saskatchewan, Canada, August 29, 2025 – MustGrow Biologics Corp. (TSXV: MGRO; OTC: MGROF; FRA: 0C0) (the “Company” or “MustGrow“), is pleased to announce: (i) the closing of its previously annoucned non-brokered private placement of 3,059,731 units of the Company (each, a “Unit“) at a price of $0.70 per Unit for gross proceeds of approximately $2,141,812 (the “LIFE Offering“); (ii) the repricing of outstanding share purchase warrants issued pursuant to its January 16, 2025 private placement (the “Warrant Repricing“); and (iii) the settement of a shares for debt agreement to certain holders of unsecured convertible debentures issued pursuant to its January 16, 2025 private placement (the “Shares for Debenture Debt Settlement“).
LIFE Offering
Each Unit consists of (i) one common share of the Company (a “Share“) and (ii) one common share purchase warrant (a “Warrant“). Each whole Warrant will be exercisable for a period of 60 months from the date of closing and will entitle the holder thereof to purchase one additional Share (a “Warrant Share“) at an exercise price of $0.90 per Warrant Share.
The Company intends to use the net proceeds raised from the LIFE Offering for inventory production for its mustard-derived organic biofertility product TerraSanteTM, inventory for agricultural products to sell via its Canadian distribution platform NexusBioAg, and working capital and general corporate purposes.
Subject to the rules and policies of the TSX Venture Exchange (the “TSXV“), the securities issuable from the sale of Units to subscribers are not subject to a hold period under applicable Canadian securities laws. Insiders and certain consultants that participate in the LIFE Offering would be subject to a four-month hold period pursuant to applicable policies of the TSXV.
The Units sold pursuant to the LIFE Offering were offered in Canada pursuant to the listed issuer financing exemption from the prospectus requirement available under Part 5A of National Instrument 45-106 – Prospectus Exemptions as modified by Coordinated Blanket Order 45-935 Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the “LIFE Exemption“).
As consideration for services, certain eligible finders received (i) an aggregate cash fee equal to $86,332.60, being 6.0% of the gross proceeds of the LIFE Offering from investors introduced to the Company by such finders; and (ii) 123,318 non-transferable common share purchase warrants (the “Finder’s Warrants“) representing 6.0% of the aggregate number of Shares forming part of the Units issued to investors introduced to the Company by the finders. Each Finder’s Warrant will entitle its holder to purchase one Share (a “Finder Warrant Share“) at a price of $0.90 per Share for a 60-month period. The Finder Warrants and any Finder Warrant Shares issuable upon exercise thereof will be subject to a statutory hold period expiring four months and one day following the date of issue in accordance with applicable Canada securities laws.
Warrant Repricing
The Company, having received the consent from all the holders of outstanding common share purchase warrants (the “JanuaryWarrants“) issued pursuant to its January 16, 2025 private placement, has repriced an aggregate of 1,721,610 January Warrants. The January Warrants have an expiry date of January 16, 2030 and previously had an exercise price of $1.90.
The January Warrants will be deemed to be amended to adjust their exercise price to $0.90 per Share (the “Amended Warrants“). The Amended Warrants was also amended to include an acceleration provision whereby, if for any ten (10) consecutive trading days (the “Premium Trading Days“), the closing price of the Company’s Shares exceeds $1.08, the Amended Warrants’ expiry date will be accelerated such that holders will have thirty (30) calendar days to exercise the Amended Warrants (if they have not first expired in the normal course) (the “Acceleration Clause“). Any activation of the Acceleration Clause will be announced by news release and the 30-day period will commence seven (7) days after the last Premium Trading Day.
The Warrant Repricing is subject to the final approval of the TSXV.
Shares for Debenture Debt Settlement
The Company offered a shares for debt settlement to all holders of unsecured convertible debentures issued pursuant to its January 16, 2025 private placement (the “Debentures“), to settle the outstanding principal amount owing under the Debentures, in the aggregate amount of $2,385,000 in consideration for: (i) the issuance of up to an aggregate of up to approximately 3,407,134 Shares (factoring in rounding down the number of Shares issued to each Debenture holder) (the “Settlement Shares“) at a deemed price of $0.70 per Settlement Share, and (ii) a cash payment of all accrued and unpaid interest up to the date of issuance of the Settlement Shares.
The Settlement Shares are subject to a statutory hold period expiring four months and one day from the date of issuance, in accordance with applicable securities laws and TSXV policies.
The Shares-for-Debt Transaction is subject to the final approval of the TSXV.
MI 61-101 Compliance
Certain insiders of the Company participated in the LIFE Offering, purchasing an aggreagte of 285,716 Units. Any Units issued to insiders is be subject to a four month hold period pursuant to applicable policies of the TSXV, (ii) certain insiders of the Company participated in the Warrant Repricing (subject to the rules and policies of the TSXV), and (iii) certain insiders of the Company also participated in the Shares for Debenture Debt Settlement, and any Settlement Shares issued to insiders is subject to a four month hold period pursuant to applicable policies of the TSXV.
The issuance of Units to any insiders, the participation of any insiders in the Warrant Repricing, and the issuance of Settlement Shares to any insiders is considered a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). In respect of any such insider participation, the Company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(a), as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25% of the Company’s market capitalization.
About MustGrow
MustGrow Biologics Corp. is a fully-integrated provider of innovative biological and regenerative agriculture solutions designed to support sustainable farming. The Company’s proprietary and third-party product lines offer eco-friendly alternatives to restricted or banned synthetic chemicals and fertilizers. In North America, MustGrow offers a portfolio of third-party crop nutrition solutions, including micronutrients, nitrogen stabilizers, biostimulants, adjuvants and foliar products. These products are synergistically distributed alongside MustGrow’s wholly-owned proprietary products and technologies that are derived from mustard and developed into organic biocontrol and biofertility products to help replace banned or restricted synthetic chemicals and fertilizers. Outside of North America, MustGrow is focused on collaborating with agriculture companies, such as Bayer AG in Europe, the Middle East and Africa, to commercialize MustGrow’s wholly-owned proprietary products and technologies. The Company is dedicated to driving shareholder value through the commercialization and expansion of its intellectual property portfolio of approximately 109 patents that are currently issued and pending, and the sales and distribution of its proprietary and third-party product lines through NexusBioAg. MustGrow is a publicly traded company (TSXV-MGRO) and has approximately 58.9 million common shares issued and outstanding and 67.5 million shares fully diluted. For further details, please visit www.mustgrow.ca.
ContactInformation
Corey Giasson Director & CEO Phone: +1-306-668-2652 info@mustgrow.ca
MustGrow Forward-Looking Statements
Certain statements included in this news release constitute “forward-looking statements” which involve known and unknown risks, uncertainties and other factors that may affect the results, performance or achievements of MustGrow.
Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Forward-looking statements in this news release, including statements about: the intended use of proceeds of the LIFE Offering, and are subject to a number of risks and uncertainties that may cause the actual results of MustGrow to differ materially from those discussed in such forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, MustGrow. Important factors that could cause MustGrow’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include: risks relating to the Company’s ability to complete the proposed financing transactions on the terms and timeline contemplated herein, or at all, including the receipt of final approvals from the TSXV and satifiscation of other closing conditions, and those risks described in more detail in MustGrow’s Annual Information Form for the year ended December 31, 2024 and other continuous disclosure documents filed by MustGrow with the applicable securities regulatory authorities which are available on SEDAR+ at www.sedarplus.ca. Readers are referred to such documents for more detailed information about MustGrow, which is subject to the qualifications, assumptions and notes set forth therein.
Neither the TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.
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.
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.
A solid finish to the year. The company beat our fiscal Q4 revenue and adj. EBITDA estimates, culminating in a transitional fiscal full year 2025 with improving revenue trends. Total Q4 revenues of $318.0 million, beat our $292.0 million estimate, and adj. EBITDA of $88.7 million was better than our $83.0 million estimate.
Improving revenue trends. Same store revenues, while down 4.1%, reflecting sequential monthly improvement from the down 6% in April, negative 3% in May and flat in June. Management indicated that same store revenue trends were up over 1% in July.
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.
Fresh inflation data released Friday, August 29, 2025, showed that prices ticked higher in July but remained in line with forecasts, reinforcing expectations that the Federal Reserve will move forward with an interest rate cut in September.
The Personal Consumption Expenditures (PCE) Price Index, the Fed’s preferred inflation gauge, showed that core prices—excluding food and energy—rose 2.9% year-over-year, the highest since February and up from 2.8% in June. On a monthly basis, core PCE climbed 0.3%. The headline index increased 2.6% annually and 0.2% month-over-month.
While inflation is still running above the Fed’s 2% target, the pace was anticipated by markets, easing fears of a policy shift. Energy costs declined 2.7% from a year earlier, while food prices rose just 1.9%. Services remained the main driver of inflation, advancing 3.6% compared with a modest 0.5% increase in goods.
Despite higher prices, consumer activity remained resilient. Personal spending grew 0.5% in July, matching forecasts, while personal income rose 0.4%. The strength in household demand suggests that U.S. consumers continue to support the economy even as tariffs and price pressures persist.
The figures indicate that recent tariff measures imposed by President Donald Trump, including a 10% baseline levy on imports and reciprocal duties on key trading partners, are filtering through the economy but not yet significantly curbing demand.
While inflation remains slightly elevated, policymakers have shifted their focus to the labor market. Payroll data for July revealed slower job creation and downward revisions to previous months, raising concerns that employment growth may be softening more sharply than anticipated. Fed Chair Jerome Powell noted last week that both labor supply and demand are cooling, increasing the risk of higher unemployment.
Fed Governor Christopher Waller reiterated his support for a 25-basis-point cut in September, noting that downside labor risks outweigh modest inflation pressures. He added that he would consider a larger move if August employment data, due September 5, shows further weakening.
Markets continue to price in a strong likelihood of a September 17 rate cut, with traders expecting a quarter-point reduction. Analysts suggest that unless upcoming inflation releases—such as the Producer Price Index (PPI) and Consumer Price Index (CPI) in mid-September—surprise sharply to the upside, policymakers will move ahead with easing.
Equities remained under pressure following the release, with the S&P 500 down around 0.7% in midday trading. Treasury yields held firm, reflecting expectations for lower borrowing costs in the months ahead.
For investors, the Fed’s path suggests a supportive environment for equities, particularly small- and mid-cap firms that benefit most from lower financing costs. Fixed income markets may also find support as yields adjust lower. Meanwhile, commodities such as gold are likely to retain a bid, with lower rates reducing the opportunity cost of holding non-yielding assets.
The bottom line: while inflation remains above target, the Fed appears set to prioritize employment risks, keeping September’s policy meeting squarely on track for a rate cut.
