SIMPLY BETTER BRANDS ANNOUNCES NAME CHANGE TO TRUBAR INC. AND CHANGES TO MANAGEMENT
Effective today, Simply Better Brands Corp. has officially rebranded as TRUBAR Inc. and expects to begin trading on the TSXV under the new ticker symbol "TRBR" at the start of trading on or about May 26, 2025.
As part of the transition, the Company has appointed Kingsley Ward as Executive Chairman, focusing on capital markets and strategic initiatives, and Erica Groussman as Chief Executive Officer, leading brand operations and growth.
VANCOUVER, BC, May 21, 2025 /CNW/ - TRUBAR Inc. (formerly, Simply Better Brands Corp.) (" TRUBAR" or the " Company") (TSXV: SBBC) (OTCQX: SBBCF), a better-for-you snacking company focused on delivering high-quality, plant-based protein products with exceptional taste and made with clean, recognizable ingredients, is pleased to announce the Company has changed its name from "Simply Better Brands Corp." to "TRUBAR Inc.", aligning its corporate identity with its flagship brand and primary business focus, TRUBAR™.
The Company's common shares are expected to commence trading on the TSX Venture Exchange under the new name and new stock ticker symbol "TRBR" at the start of trading on or about May 26, 2025. In connection with the name change, the new CUSIP number for the common shares will be 89778A100 and the new ISIN number will be CA89778A1003.
The name change reflects the Company's evolution into a pure-play branded snacking business, focused entirely on the growth and expansion of TRUBAR™, one of North America's fastest-growing plant-based protein bar brands. The purpose of the rebrand is to align the Company's identity with its core business and consumer-facing brand, while reinforcing its commitment to building long-term shareholder value.
No action is required to be taken by shareholders with respect to the name change. Outstanding common share and warrant certificates bearing the old name of the Company are still valid and are not affected by the name and ticker symbol change.
Changes to Management
In connection with the rebrand to TRUBAR Inc., J.R. Kingsley Ward, who previously served as Chief Executive Officer and Chairman of the Company, will transition to Executive Chairman of TRUBAR, where he will focus on capital markets strategy and corporate development with the goal of driving long-term shareholder value alongside the leadership team. Erica Groussman, co-founder of TRUBAR™, will assume the role of Chief Executive Officer of TRUBAR, leading the brand's day-to-day operations, innovation, and growth strategy.
Kingsley Ward, Executive Chairman of TRUBAR, commented " This rebrand marks a pivotal moment for our company as we align our corporate identity with the brand driving our growth, TRUBAR™. It's more than a name change, it reflects our evolution into a focused, disciplined organization committed to scaling a standout brand in the better-for-you snacking space. With Erica leading day-to-day operations as CEO, and my focus shifting to capital markets and corporate strategy as Executive Chairman, we are well-positioned to build long-term shareholder value while continuing to deliver innovative, great-tasting products made with recognizable ingredients."
TRUBAR is proud to be led by an experienced management team with a track record of building and scaling consumer brands. The leadership team includes:
Laura Fremaine, Chief Financial Officer – Former Controller at VRG Capital, with over 15 years of extensive experience in operational oversight and financial reporting.
Kate McDevitt, Vice President of Sales — Over 20 years of sales experience, former Director of National Accounts at Red Bull, leading the brand's sales strategy.
Claire Ughetto, Vice President of Operations — Over 25 years of supply chain experience in CPG, former Global Supply Chain leader at Mars, Wrigley's, and Kimberly-Clark.
Luc Francillon, Vice President of Finance — Over 30 years of finance experience, former CFO of Mars Retail Group.
Natasha Port, Vice President of Marketing — Over 15 years of marketing experience, former marketing leader at Bai Beverages and Keurig Dr Pepper.
Fernando Massalin, Vice President Corporate Development and Investor Relations – Former Senior Associate at VRG Capital, bringing capital markets expertise and strategic advisory experience with over 10 years of capital markets experience.
Together, this experienced team brings a unique combination of expertise from some of the world's largest consumer packaged goods companies and financial leadership from VRG Capital. With this team, TRUBAR™ is positioned to accelerate its next phase of growth, expand its market presence, and drive continued innovation in the better-for-you snacking space.
About TRUBAR Inc.
TRUBAR Inc. is a better-for-you snacking company focused on delivering high-quality, plant-based protein products with exceptional taste and made with clean, recognizable ingredients. TRUBAR™, the Company's signature product line, is distributed through national retailers, club stores, and e-commerce platforms across North America. The Company is focused on expanding TRUBAR™'s presence throughout North America and select international markets.
For more information, visit: www.trubarinc.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 release.
Forward-Looking Information
Certain statements contained in this news release constitute "forward-looking information" and "forward looking statements" as such terms are used in applicable Canadian securities laws. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions, including, among others, that the Company's financial condition and development plans do not change as a result of unforeseen events, the tariff and regulatory climate in which the Company operates, and the Company's ability to execute on its business plans. Specifically, this news release contains forward-looking statements relating to, but not limited to: management's current expectations regarding the date the common shares of the Company are expected to commence trading on the TSX Venture Exchange under the new name and trading symbol, management's expectations regarding the strategic focus of the Company in 2025, expansion plans for TRUBAR's products, the success of the Company's marketing efforts, the Company's innovation and growth strategies, the impact of changes to the Company's management, and the retention of key personnel.
Forward-looking statements and information are subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking statements and information. Factors that could cause the forward-looking statements and information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, ability to obtain necessary regulatory approvals for proposed transactions, as well as the other risks and uncertainties applicable to the plant-based food, clean ingredient skincare and plant-based wellness or broader wellness industries and to the Company, and as set forth in the Company's annual information form for the year ended December 31, 2024 available under the Company's SEDAR+ profile at www.sedarplus.com.
The above summary of assumptions and risks related to forward-looking statements in this news release has been provided in order to provide shareholders and potential investors with a more complete perspective on the Company's current and future operations and such information may not be appropriate for other purposes. There is no representation by the Company that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
an hour ago
- Globe and Mail
Northstar Reports First Quarter 2025 Financial and Operating Results
CALGARY, AB , May 30, 2025 /CNW/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) (" Northstar" or the " Company") is pleased to announce our financial and operating results for the three-month period ended March 31 , 2025. Selected financial and operational information is set out below and should be read in conjunction with the Company's March 31, 2025 Condensed Interim Financial Statements and the related Management's Discussion and Analysis, which are available for review at or the Company's website at First Quarter 2025 Financial and Operational Highlights The first quarter of 2025 witnessed a number of significant developments and achievements, together with a few key funding achievements subsequent to the quarter-end, namely: Operational The Company successfully completed construction efforts of the Empower Calgary Facility; and Following the successful completion of construction, the Company began the important task of commissioning the Empower Calgary Facility. The Company's asphalt shingle reprocessing facilities are broadly broken into two main phases: (1) feedstock preparation and mechanical separation of aggregate, and (2) hydrocarbon treatment and processing. The Company successfully completed all commissioning efforts of the first phase and now continues to commission the second phase. Once those efforts are completed, the Empower Calgary Facility will be turned over to operations, currently scheduled for mid-year 2025. Plant Expansions - significant steps continued towards expansion efforts of the Company's business model, including: Empower Hamilton Facility – the Company executed a letter of intent with YORK1 Environmental Waste Solutions Ltd. to supply up to 10,000 tonnes of waste roofing shingles with an understanding to increase supply volumes through time. Execution of supply agreements represents a critical step in establishing a working facility. This first supply agreement followed closely on the announcement in late 2024 of the Company signing a letter of intent with the Great Lakes Port Management Inc., a subsidiary of the Hamilton-Oshawa Port Authority, for a long-term lease for an industrial zoned property located in Hamilton, Ontario as the site for the Company's planned facility in southwestern Ontario ; US Expansion – the Company continues to expend time and energy in the selection of a suitable site for our inaugural reprocessing facility in the United States . As has been previously communicated by the Company, selection criteria have focused on areas that represent an operational fit with the Company's strategic financial partner, TAMKO Building Products Inc.; and Empower Delta Facility – during the quarter, the Company successfully secured a fifteen-year lease at its existing Delta, British Columbia location. This paves the way to retro-fit the existing pilot facility at this location to a full-scale commercial facility. The site currently holds all necessary regulatory approvals and permits for light industrial operations, offering a future expansion opportunity with reduced timelines and costs associated with permitting and site development. Liquidity – commensurate with execution of the business plan, the Company successfully received proceeds under previously negotiated funding agreements, consisting of: $3.9 million from Emissions Reduction Alberta, subsequent to the quarter-end, upon completion of Milestone 2, which includes among other items, all major processing units installed and electrified and substantial completion as defined in the Builder's Lien Act; $617 thousand final draw subsequent to the quarter-end under the Business Development Bank $8.75 million non-revolving senior secured project loan facility; and $248 thousand received during the quarter from the exercise of existing stock options and warrants. Year-to-date, the Company has received $392 thousand from the exercise of stock options and warrants. Outstanding common shares as of May 29, 2025 totaled 137,051,985. Financial Results (CAD$, except per share amounts and common shares outstanding) Three Months Ended Mar. 31 FINANCIAL RESULTS 2025 2024 Loss and comprehensive loss 2,949,917 1,581,578 Per share - basic and diluted 0.02 0.01 Net cash flow used in operating activities 2,338,652 1,201,168 Per share - basic and diluted 0.02 0.01 Capital expenditures Capital expenditures 4,080,489 1,848,278 Liquidity & Capitalization Working capital (deficit) surplus (426,551) 3,440,770 7.95% senior secured non-revolving loan (1) 8,132,302 - Convertible debentures - principal amount (2) 9,505,000 5,700,000 Royalty debenture (3) 14,773,500 - Common shares outstanding Weighted average - basic and diluted 132,942,452 126,710,381 Outstanding, end of period 134,306,216 126,710,381 (1) As at March 31, 2025, the Company had drawn $8,132,302 from the BDC Financing, with $617,698 remaining undrawn. See Note 7 in the Company's Condensed Interim Consolidated Financial Statements as at March 31, 2025. (2) Since December 2022, the Company has entered into various financing arrangements through the issuance of convertible debentures in tranches, raising a total of $10,405,000 at interest rates varying between 10% and 12.5%. As at March 31, 2025, principal amounts totalling $9,505,000 remain outstanding, reflecting $900,000 of proceeds received in exchange for conversion into common shares. See Note 8 in the Company's Condensed Interim Consolidated Financial Statements as at March 31, 2025. (3) On September 13, 2024 the Company completed an agreement with CVW CleanTech Inc. ("CVW") pursuant to which CVW provided the Company with $14,000,000 in funding through a five-year 10.0% second secured convertible debenture (the "Royalty Debenture") convertible into revenue royalties on two future facilities. Balance includes the increase in fair value since inception. See Note 9 in the Company's Condensed Interim Consolidated Financial Statements as at March 31, 2025. About Northstar Northstar is a Canadian waste to value technology company focused on the sustainable recovery and reprocessing of asphalt shingles. Northstar developed and owns a proprietary design process for taking discarded asphalt shingles, otherwise destined for already over-crowded landfills, and extracts the liquid asphalt for use in new hot mix asphalt shingle manufacturing and asphalt flat roof systems while also extracting aggregate and fiber for use in construction products and other industrial applications. Focused on the circular economy, Northstar plans to reprocess used or defective asphalt shingle waste back into its three primary components for reuse/resale with its first commercial scale up facility in Calgary, Alberta . As an emerging innovator in sustainable processing, Northstar's mission aims at leading the recovery and reprocessing of asphalt shingles in North America that would otherwise be sent to landfill addressing numerous stakeholder objectives. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on For further information about Northstar, please visit On Behalf of the Board of Directors, President & CEO, Director Cautionary Statement on Forward-Looking Information Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. This press release may contain forward–looking information within the meaning of applicable securities legislation, which forward–looking information reflects the Company's current expectations regarding future events. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "aim", "objective" or similar expressions. Forward-looking statements in this press release include statements concerning: (i) Northstar's plans to reprocess used shingles into their component parts in the inaugural commercial facility in Calgary ; (ii) operations to commence mid-year 2025; (iii) the ability of the Company to expand into other regions, namely Hamilton, Ontario and the United States ; and (iv) Northstar's ability to become a leader in the recovery and reprocessing of asphalt shingles in North America . Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including: risks related to factors beyond the control of the Company; inability of the Company to execute on its business plans; the Company may require additional financing which may not be obtainable or on favourable terms; economic uncertainty; and the risks and uncertainties which are more fully described under the heading "Risk Factors" in the Company's annual and quarterly management's discussion and analysis and other filings with the Canadian securities regulatory authorities under the Company's profile on SEDAR+. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company does not undertake any obligation to update such forward–looking information whether because of new information, future events or otherwise, except as expressly required by applicable law. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, expected or aimed. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.
Cision Canada
an hour ago
- Cision Canada
BIOVAXYS ANNOUNCES CONSOLIDATION AND CONCURRENT BROKERED PRIVATE PLACEMENT OFFERING FOR GROSS PROCEEDS OF UP TO $3,000,000
VANCOUVER, BC, May 30, 2025 /CNW/ -- BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (" BioVaxys" or the " Company") announces a proposed consolidation of the common shares of the Company (the " Common Shares") on the basis of ten (10) pre-consolidation Common Shares for one (1) post-consolidation Common Share (the " Consolidation"), and a concurrent brokered private placement offering (the " Offering") consisting of a minimum of 5,714,285 units of the Company (each, a " Unit") at a post-Consolidation price of $0.35 per Unit for minimum gross proceeds of $2,000,000 and a maximum of 8,571,428 Units at a post-Consolidation price of $0.35 per Unit for maximum gross proceeds of up to $3,000,000. Consolidation The Company currently has 293,425,203 Common Shares issued and outstanding, and it is anticipated that immediately following the Consolidation, excluding Common Shares to be issued in connection with this Offering, the Company will have approximately 29,342,520 Common Shares issued and outstanding, prior to rounding of fractional Common Shares. The exercise or conversion price of the Company's convertible securities and the number of Common Shares issuable thereunder will also be proportionately adjusted upon completion of the Consolidation. No fractional Common Shares will be issued as a result of the proposed Consolidation. Any fractional Common Shares resulting from the proposed Consolidation will be rounded up in the case of a fractional interest that is one-half (1/2) of a Common Share or greater, or rounded down in the case of a fractional interest that is less than one-half (1/2) of a Common Share, to the nearest whole number of Common Shares, and no cash consideration will be paid in respect of fractional Common Shares rounded down to the nearest whole Common Share. The Company will issue a subsequent news release in respect of the proposed Consolidation to announce the effective date of the Consolidation, the new CUSIP and ISIN for the post-Consolidation Common Shares, and any other relevant details, and file all necessary documentation with the Canadian Securities Exchange (the " CSE") in respect of the proposed Consolidation. The post-Consolidation Common Shares will continue to trade on the CSE under the Company's existing name and trading symbol. The Consolidation remains subject to requisite approvals, including acceptance by the CSE. Offering The Company has entered into an agreement with D12 Capital Markets Inc. (" D12") and its affiliate, Foundation Markets Inc. to act as agents (the " Agents") in connection with the Offering. Completion of the Offering will be contingent upon the Company issuing a minimum of 5,714,285 Units at a post-Consolidation price of $0.35 per Unit for minimum gross proceeds of $2,000,000. Each Unit will consist of one (1) post-Consolidation common share in the capital of the Company (each, a " Post-Consolidation Common Share") and one (1) Post-Consolidation Common Share purchase warrant (each, a " Post-Consolidation Warrant"). Each Post-Consolidation Warrant will entitle the holder thereof to purchase one Post-Consolidation Common Share at a post-Consolidation price of $0.60 for a period of 36 months from the closing date of the Offering. The Company intends to use the net proceeds raised from the Offering for research and development, general corporate purposes and working capital. Upon successful closing of the Offering, the Agents will receive a cash commission equal to 8% of the gross proceeds committed to the Company from any party introduced by the Agents. Such payment shall be paid by the Company in equal share to the Agents as per their direction. Closing of the Offering is anticipated to occur on or about June 30, 2025, or such other date as the Company and the Agents may agree upon provided such date is on or before July 14, 2025. Closing of the Offering and payment of the Agents' commission are subject to the satisfaction of certain conditions, including, but not limited to, acceptance by the CSE. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (" NI 45-106"), the Units issuable under the Offering will be offered for sale to purchasers in all provinces and territories of Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. The securities to be issued pursuant to the sale of the Units under the Offering will not be subject to resale restrictions in accordance with applicable Canadian securities laws. There is an offering document dated May 30, 2025, related to the Offering that can be accessed under the Company's profile at and on the Company's website at Prospective investors should read this offering document before making an investment decision. This news release does not constitute an offer to sell or a solicitation of an offer to buy of any securities in the United States, or in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to available exemptions therefrom. About BioVaxys Technology Corp. BioVaxys Technology Corp. ( a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it's HapTenix© tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization for food allergy, and other immunological diseases. Through a differentiated mechanism of action, the DPX™ platform delivers instruction to the immune system to generate a specific, robust, and persistent immune response. The Company's clinical stage pipeline includes maveropepimut-S (MVP-S), based on the DPX™ platform, and in Phase IIB clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant Ovarian Cancer. MVP-S delivers antigenic peptides from survivin, a well-recognized cancer antigen commonly overexpressed in advanced cancers, and also delivers an innate immune activator and a universal CD4 T cell helper peptide. MVP-S has been well tolerated and has demonstrated defined clinical benefit in multiple cancer indications as well as the activation of a targeted and sustained, survivin-specific anti-tumor immune response. BioVaxys is also developing DPX™+SurMAGE, a dual-targeted immunotherapy combining antigenic peptides for both the survivin and MAGE-A9 cancer proteins to elicit immune responses to these two distinct cancer antigens simultaneously, DPX™-RSV for Respiratory Syncytial Virus, DPX+rPA for peanut allergy prophylaxis, and BVX-0918, a personalized immunotherapeutic vaccine using its proprietary HapTenix© 'neoantigen' tumor cell construct platform for refractive late-stage ovarian cancer. BioVaxys common shares are listed on the CSE under the stock symbol "BIOV" and trade on the Frankfurt Bourse (FRA: 5LB) and in the U.S. on the OTC Markets (OTCQB marketplace). For more information, visit and connect with us on X and LinkedIn. ON BEHALF OF THE BOARD Signed " James Passin" James Passin, Chief Executive Officer Phone: +1 740 358 0555 Cautionary Statements on Forward Looking Information This news release includes certain "forward-looking information" and "forward-looking statements" (collectively " forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operating or financial performance of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", or "should" occur or be achieved. Forward-looking statements in this news release relate to, among other things, the proposed Consolidation, including the ratio thereof and timing thereof, and the Offering, including the size and use of proceeds, and the timing and ability of the Company to close the Offering, including obtaining approval of the Offering from the CSE. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates, primarily the assumption that BioVaxys will be successful in developing and testing vaccines, that, while considered reasonable by BioVaxys, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies including, primarily but without limitation, the risk that BioVaxys' vaccines will not prove to be effective and/ or will not receive the required regulatory approvals. With regards to BioVaxys' business, there are a number of risks that could affect the development of its biotechnology products, including, without limitation, the need for additional capital to fund clinical trials, its lack of operating history, uncertainty about whether its products will complete the long, complex and expensive clinical trial and regulatory approval process for approval of new drugs necessary for marketing approval, uncertainty about whether its autologous cell vaccine immunotherapy can be developed to produce safe and effective products and, if so, whether its vaccine products will be commercially accepted and profitable, the expenses, delays and uncertainties and complications typically encountered by development stage biopharmaceutical businesses, financial and development obligations under license arrangements in order to protect its rights to its products and technologies, obtaining and protecting new intellectual property rights and avoiding infringement to third parties and their dependence on manufacturing by third parties. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability of the Company to complete the Consolidation and the Offering on the terms proposed or at all, and the ability to obtain necessary approvals, including the approval of the CSE. BioVaxys does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
Globe and Mail
2 hours ago
- Globe and Mail
Patagonia Gold First Quarter 2025 Financial Results
VANCOUVER, British Columbia, May 30, 2025 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. ('Patagonia' or the 'Company') (TSXV: PGDC) announces its financial results for the quarter ended March 31, 2025 ('Q1 2025'). The financial statements together with the related management's discussion and analysis are available on the Company's website and under the Company's profile on SEDAR+ at Highlights Generated revenue of US$1.2 million in Q1 2025. Produced 613 gold equivalent ounces (1) and sold 418 gold equivalent ounces (1) in Q1 2025. Incurred exploration expenditures of US$0.5 million in Q1 2025 including completion of: A total of 380 meters were drilled in 8 diamond drill holes at Calcatreu, specifically in the Piche Sur, Nelson Sur and Belen W targets - all of which are deemed to have mineral resource expansion potential. A total of 366.1 line-kilometers of geophysics was carried out on the target Masqui in the south of the main Calcatreu block. At La Valenciana, in the province of Santa Cruz, a total of 66 line-kilometers of ground magnetics surveying was completed and a total of 63 rock chip samples were collected from the Veta Principal during Q1 2025. A total of 401.9 line-kilometers of ground magnetics surveying was completed at La Josefina. The Company has commenced construction of the Company's Calcatreu heap leach facility in Rio Negro during Q1 2025. Completion of construction of Calcatreu is targeted for Q4 2025 with first leaching before the end of 2025. Notes: (1) Consisting of 387 gold and 21,060 silver ounces of production and 252 gold and 14,978 silver ounces sold, converted to a gold equivalent using a ratio of the average spot market price for the commodities each period. The ratio for three months ended March 31, 2025 was 90.05:1 (2024 – 88.70:1). Qualified Person's Statement Donald J. Birak, an independent consulting geologist, Registered Member of SME, Fellow of AusIMM, and qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information in this news release. About Patagonia Gold Patagonia Gold Corp. is a South America focused, publicly traded, mining company listed on the TSX Venture Exchange. The Company seeks to grow shareholder value through exploration and development of gold and silver projects in the Patagonia region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 375 properties in several provinces of Argentina and is one of the largest landholders in the province of Santa Cruz, Argentina. For more information, please contact: Christopher van Tienhoven, Chief Executive Officer Patagonia Gold Corp. T: +54 11 5278 6950 E: cvantienhoven@ FORWARD-LOOKING STATEMENTS This news release contains certain forward-looking statements, including, but not limited to, statements with respect to, among other things, mineral resource expansion potential; timing for completion of the heap leach facility and commencement of leaching; the advancement and development of gold and silver projects in the Patagonia region of Argentina; and the anticipated growth in shareholder value. Wherever possible, words such as 'may', 'will', 'should', 'could', 'expect', 'plan', 'intend', 'anticipate', 'believe', 'estimate', 'predict' or 'potential' or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
