First Solar agrees to sell production tax credits for $296.27M
In a regulatory 8-K filing, the company stated: 'On June 20, 2025 – effective date – First Solar (FSLR), Inc. entered into a Tax Credit Transfer Agreement with a leading financial institution. Pursuant to the Agreement, the Company agreed to sell to the Purchaser $311,858,186.10 of advanced manufacturing production tax credits generated by the production of certain module components in the United States and the sale of such components to third parties during the first part of 2025 pursuant to Section 45X of the Internal Revenue Code of 1986, as amended. Pursuant to the Agreement, the purchase price for such Tax Credits was $296,265,276.80, payable in a single installment on the Effective Date.'
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Business Upturn
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- Business Upturn
Jørgen Vig Knudstorp Nominated to Join NIKE, Inc. Board of Directors
By Business Wire India Published on June 25, 2025, 10:45 IST Beaverton, Ore., United States: NIKE, Inc. (NYSE:NKE) today announced Jørgen Vig Knudstorp has been nominated for election to its Board of Directors at the Company's 2025 annual meeting of shareholders, to be held on September 9, 2025. Mr. Knudstorp was President and Chief Executive Officer of the LEGO Group ('LEGO') from 2004 to 2016, Executive Chair of LEGO Brand Group from 2017 to 2023 and currently serves as Deputy Chair of the LEGO Foundation. He previously held various leadership positions at LEGO from 2001 to 2004. 'Jørgen's strong global experience with brand and digital marketing, strategy, and consumer products, as well as his development and fostering of culture and values, will make him an excellent addition to our board,' said Mark Parker, Executive Chairman of NIKE, Inc. 'We look forward to working with Jørgen during an exciting time for NIKE where we will unlock our next chapter of growth through innovative product and distinctive brand storytelling across an integrated marketplace.' Prior to joining LEGO, Mr. Knudstorp served as a management consultant at McKinsey & Company. He also holds a master's degree and a PhD in economics and business management from Aarhus University. Mr. Knudstorp is also the lead independent director of Starbucks Corporation and Partner and Executive Advisor of Innovation Endeavors. About NIKE, Inc. NIKE, Inc., headquartered in Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Converse, a wholly owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. For more information, NIKE, Inc.'s earnings releases and other financial information are available on the Internet at Individuals can also visit and follow NIKE on LinkedIn, Instagram and YouTube. View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash Business Wire India, established in 2002, India's premier media distribution company ensures guaranteed media coverage through its network of 30+ cities and top news agencies.
Business Wire
an hour ago
- Business Wire
E3 Lithium Outlines an Inaugural Measured and Indicated Mineral Resource Estimate of 5.0 Mt LCE for the Garrington District
BUSINESS WIRE)--E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), 'E3 Lithium' or the 'Company,' a leader in Canadian lithium, is pleased to release an updated mineral resource report for its Garrington District in central Alberta. The NI 43-101 Technical Report for the Garrington District Lithium Resource Estimate (the 'Garrington Report') outlines an updated Measured and Indicated mineral resource estimate of 5.0 million tonnes ('Mt') of lithium carbonate equivalent ('LCE'). Highlights: The Garrington District includes 273,449 hectares of land Measured and Indicated mineral resource estimate of 5.0 Mt LCE Inferred mineral resource estimate of 0.3 Mt LCE E3 Lithium's total Measured and Indicated mineral resources in Alberta is now 21.2 Mt LCE The Garrington District is located in south-central Alberta directly southwest of the city of Edmonton at the north end, and it extends southwest of Edmonton to the town of Sundre (Figure 1). Within the Garrington District, the Company's brine-hosted mineral rights cover approximately 155,236 hectares, leased from the crown, with the remaining area being unleased freehold mineral rights. The lithium concentrations on or near E3 Lithium's Land holdings range from 45 mg/L to 61 mg/L, with an average of 54mg/L. The property sits directly to the west of E3 Lithium's Bashaw District where the Company is currently developing its Clearwater Project. Similar to the Bashaw District, the Garrington District lithium brine deposit is hosted in the carbonate reef complex deposits of the Leduc Formation. 'Alberta's lithium resources stand out globally as some of the most significant in size, thanks to the scale of the brine aquifers in the province,' said Chris Doornbos, President and CEO of E3 Lithium. 'The resource update in the Garrington District highlights a separate region containing vast volumes of lithium-enriched brines to the west of our existing Bashaw District resources. E3 Lithium continues to focus our efforts on the development of the Clearwater Project and the additional Garrington resources expand our sizable inventory for long-term value creation.' The disclosure in this news release of scientific and technical information pertaining to the Garrington District has been reviewed and approved by Meghan Klein, Head of Reservoir Engineering, Americas of Sproule ERCE, and Alexey Romanov, PhD., Principal Geoscientist of Sproule ERCE. Both Ms. Klein, and Mr. Romanov are 'Qualified Person's' as defined under NI 43-101– Standards of Disclosure for Mineral Projects. The technical report will be available on the Company's website ( and SEDAR ( within 45 days of this announcement. Garrington District Brine Resource Estimate The Garrington Report follows from the NI 43-101 Technical Report for the North Rocky Property, effective October 27, 2017, which included a small subsection of the area encompassed in the Garrington Report. The Garrington mineral resource estimate has been calculated across the Garrington Lithium District and was developed as outlined below. First, data compilation and review of existing reports within the Garrington Lithium District were conducted. Then, a reservoir depositional framework was developed based on core descriptions and lithofacies analysis. Thirdly, petrophysical modeling on geophysical wireline logs, validated against core analysis where possible, was performed. Finally, geological models were generated and leveraged for reservoir volume calculations. The updated mineral resource estimate for the Garrington District is summarized in the table below. The mineral resource estimate is categorized as Measured, Indicated, and Inferred depending on geological confidence. 1. The Intervals reported follow the following definitions: Measured - evidence is sufficient to confirm geological, and grade or quality continuity between points of observation; Indicated - evidence is sufficient to assume geological, and grade or quality continuity between points of observation and Inferred - evidence is sufficient to imply but not verify geological, grade or quality continuity. 2. Based on LCE tonnage. 3. Brine Resource estimates are inclusive of unleased freehold mineral rights. Expand The mineral resource estimate was completed by a multi-disciplinary team led by E3 Lithium and supervised by Meghan Klein and Alexey Romanov of Sproule ERCE, acting as Qualified Persons using volumetric analysis based on geological parameters of reservoir geometry, effective porosity, permeability, and dissolved lithium concentrations. The mineral resource estimate benefited from a considerable amount of data compiled by the oil and gas industry and made public by the Government of Alberta. Key data sets used to determine reservoir brine parameters in the resource area include core plug analyses (porosity and permeability), and wireline logs geological and petrophysical interpretation (stratigraphic tops, lithology, volume of shale, and porosity). To calculate the brine volume for each zone within the Leduc Formation, the brine volume was exported from the geological model, incorporating three district brine saturations. The brine volume is multiplied by the lithium grade to calculate the Original Lithium in Place (OLIP) in tonnes of elemental lithium and in tonnes of lithium carbonate equivalent. Resource categorization reflects the confidence in both the data sets and the interpretations. Measured resources exist within the conceptual development area and are restricted to volumes exceeding a 6% porosity cut-off within a single connected geobody volume with lithium grade measurements. Indicated resources exist across the Garrington District and are restricted to volumes exceeding a 2% porosity cut-off within a single connected geobody with lithium grade measurements. Inferred resources make up all geobody volumes above the 2% porosity cut-off. With the updated Garrington Resource Estimate, E3 Lithium's total Measured and Indicated lithium resources in Western Canada are now in excess of 21 Mt LCE with an additional 2.9 Mt of Inferred resources. Included in this number is approximately 1.13 Mt of Proven and Probable mineral reserves in the Bashaw District that provide the basis for the Clearwater Project currently under development and outlined in the Pre-Feasibility Study published in July 2024. 1. Brine Resources are reported using the 2014 CIM definition standards, and are inclusive of those Brine Resources converted to Brine Reserves. Brine Resource estimates are inclusive of unleased freehold mineral rights. Expand ON BEHALF OF THE BOARD OF DIRECTORS Chris Doornbos, President & CEO E3 Lithium Ltd. About E3 Lithium E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated 1 as well as 0.3 Mt LCE Inferred mineral resources 2 in Alberta and 2.5 Mt LCE Inferred mineral resources 3 in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV8% of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV8% of USD 3.7 Billion with a 24.6% IRR 1. 1: The Clearwater Project NI 43-101 Pre-Feasibility Study, effective June 20, 2024, is available on the E3 Lithium's website ( and SEDAR+ ( 2: The mineral resource NI 43-101 Technical Report for the Garrington District Lithium Resource Estimate, effective June 25, 2025, identified 5.0 Mt LCE (measured and indicated) and 0.3 Mt LCE (inferred) and will be available on the E3 Lithium's website ( and SEDAR+ ( within 45 days of this news release. 3: The mineral resource NI 43-101 Technical Report for the Estevan Lithium District, effective May 23, 2024, identified 2.5 Mt LCE (inferred) and is available on the E3 Lithium's website ( and SEDAR+ ( Kevin Carroll, P. Eng., Chief Development Officer and a Qualified Person under National Instrument 43-101, has reviewed and approved the technical information contained on this news release. Forward-Looking and Cautionary Statements This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions or forward-looking information within the meaning of applicable securities laws. Forward-looking statements are frequently identified by such words as 'believe', 'may', 'will', 'plan', 'expect', 'anticipate', 'estimate', 'intend', 'project', 'potential', 'possible', 'could' and similar words referring to future events and results. Forward-looking statements are based on the current opinions, expectations, estimates and assumptions of management in light of its experience, perception of historical trends, and results of the Garrington Report, but such statements are not guarantees of future performance. In particular, this news release contains forward-looking information relating to: the mineral resource estimate at the Garrington District; timing of the availability and filing of the Garrington Report; the potential for future development and inventory expansion of the Clearwater Project and value creation; and the anticipated benefits of the foregoing. In preparing the forward-looking information in this news release, the Company has applied several material assumptions, including, but not limited to, the assumption that the Garrington Report will be delivered on the expected timeline and will not contain any material variations to the information contained in this news release; that activities relating to the Garrison District and the Company's other projects will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; ; that the current price and demand for lithium will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned activities on the Garrington District will be obtained in a timely manner and on acceptable terms; the continuity of the price of lithium; that the results of the mineral resource estimate will be delivered in a timely manner consistent with the Company's projected timelines; and that the results will be in line with management's expectations. All forward-looking information (including future-orientated financial information) is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company's brine, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in estimated mineral reserves or mineral resources; future prices of lithium and other metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; the Company's lack of operating revenues; currency fluctuations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; risks related to the results of the testing program not being in delivered in a timely manner and/or not being in line with management's expectations; competitive risks and the availability of financing, as described in more detail in our recent securities filings available under the Company's profile on SEDAR+ at Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
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What is student loan default?
Student loan default happens when the borrower does not make payments on their student loan, often for a few months or more. Having a student loan in default can cause your credit score to drop, your income to be garnished and your loan to come due in full immediately. To avoid the worst consequences, you can consider federal student loan rehabilitation or consolidation or negotiate a settlement for private student loans. Student loan default occurs when a borrower fails to pay their loans according to the terms of their loan agreement. The exact timeline varies depending on whether you have federal or private student loans. Defaulting on a student loan has serious consequences. Your entire loan balance may come due immediately, and you could have your wages or social security payments garnished. You will also become ineligible for forbearance, deferment and student loan forgiveness. When you miss your due date, your loan first becomes delinquent. Your student loan will remain delinquent until you pay the amount you owe, qualify for deferment or forbearance, change your repayment plan or enter default. Once your student loan payment is 90 days late, your student loan servicer will report your delinquency to the three credit bureaus — Experian, Equifax and TransUnion. From there, your loan will transition from delinquency to default on a timeline that depends on the type of student loans you have. With federal student loans, your loan is usually considered in default when you don't make your scheduled payments for 270 days. One exception is Perkins Loans, which can be considered default if you miss a single payment. With private student loans, you are usually considered in default after you miss three monthly payments or 90 days total. If your student loans become delinquent or past due, your loan company or servicer will likely notify you. You may receive a notice in the mail, a call from your servicer or an email with details on your late payment. Once your student loans enter default, you should see them listed on your credit reports. You can get free weekly credit reports from the three credit bureaus using You can also log in to the Federal Student Aid website to see the status of your federal student loans, including any information on past-due, delinquent or defaulted amounts. You could face multiple consequences if your loan enters default. Your credit score drops: Missed student loan payments can cause your credit score to drop by more than 100 points. A low credit score and a history of missed payments on your credit report can make it difficult to qualify for a car loan, mortgage or other loan in the future. And if you do qualify, you'll have less favorable interest rates and terms. You owe the entire balance immediately : With federal student loans, your entire unpaid balance and owed interest become immediately due through a process called 'acceleration.' You can have a portion of your income taken: If you default on federal student loans, the government can garnish a portion of your income, tax refund or social security benefits, leaving you with less money to live on. You lose borrower protections and access to federal student aid: Your federal loans will no longer be eligible for deferment or forbearance. You also won't be able to change your repayment plan. Additional federal student aid, like grants, will not be available either. You may be taken to court: Your private loan servicer can take you to court to collect. In addition, you will likely be on the hook for court costs, collection fees, attorney fees and extra costs associated with the collection process. You won't qualify for student loan forgiveness: While you're in default, you will not qualify for student loan forgiveness and any payment made while in default will not count toward forgiveness. However, you can become eligible again once you're out of default. Your academic transcript may be withheld: Your school may withhold your academic transcript until you get your student loans out of default. However, schools aren't allowed to withhold your transcript over defaulted-on federal loans. While all of this takes place, late fees and interest will continue to accrue on your debts, meaning the problem only gets worse — and more expensive. Defaulting on your student loans can impact your life and finances for years to come. If you are concerned that you may default or are having financial challenges, do not ignore the issue. Reach out to your loan servicer proactively and find out about your options for avoiding default. In addition to understanding student loan default, it's important to know how to turn the situation around. If you're already in default, there are ways to get back in good standing. Bankrate insight It is very difficult to get your federal student loans discharged in bankruptcy. Rehabilitation and consolidation are more reliable options. There are three main ways to get your federal student loans out of default: paying your entire loan balance in full, pursuing loan rehabilitation or applying for loan consolidation. Since most people cannot afford to pay their loans off in one lump sum, rehabilitation and consolidation are the only options most can consider. Federal loan rehabilitation starts with contacting your servicer. When you rehabilitate a federal Direct Loan or FFEL loan, you must: Make nine monthly payments as determined by your loan holder, each within 20 days of the due date, and agree to these terms in writing. Make all nine of the agreed-upon payments over 10 consecutive months. The monthly payment you make under loan rehabilitation typically equals 10 or 15 percent of your monthly discretionary income. According to the U.S. Department of Education, discretionary income is 'the difference between your annual income and 150 percent of the poverty guideline for your family size and state of residence.' Your monthly payment during the rehabilitation process could be as low as $5. After you complete rehabilitation, the record of default will be removed from your credit history, though late payments will remain. With federal student loan consolidation, you combine your existing federal student loans into one new one. To qualify for this plan for defaulted loans, you must do one of the following: Agree to enroll your new Direct Consolidation Loan in an income-driven repayment plan. Make three consecutive, voluntary, on-time, full monthly payments on the loan in default before consolidating. This option does not remove your default from your credit record. The rules are different for private student loans. If you have private student loans in default, you may be able to negotiate a settlement on your debt in collections. You could also try to work with your loan servicer to get up to date. Start by reaching out and explaining your situation. Some lenders might allow you to adjust your repayment plan to better fit your budget. Many with unmanageable private student loan debt reach out to a student loan lawyer for help. Another option is working with a certified credit counselor who can help you create a plan to repay your defaulted loans. Once you have taken steps to get your student loans out of default, it's important to avoid making the same mistakes again. Your best move is to make sure you have a monthly payment that you can afford without financial hardship. You can do this by: Looking into income-driven repayment plans that let you pay a percentage of your discretionary income on your loans for 20 to 25 years. Refinancing your student loans with a private lender to secure a lower interest rate and a more affordable payment. Though you should think twice before refinancing federal student loans since it means you'll lose access to federal benefits like income-driven repayment plans and student loan forgiveness programs. Using a student loan calculator to figure out the best rate, term or repayment plan that creates a monthly payment that comfortably fits into your budget. Also, set yourself up for success when it comes to planning for your student loan payments. This can mean starting a monthly budget that helps you plan for each of your bills and your average expenses, but it can also mean cutting discretionary spending so you have more wiggle room in your budget each month. Finally, you can also consider setting up your student loan payments to be sent in automatically so you never forget to pay. Student loan default carries serious consequences, like harm to your credit and possible wage garnishment. If you have federal student loans, you can get out of default through loan rehabilitation or consolidation. Your options with private student loans vary by lender. Contact your lender or loan servicer immediately to discuss your options if you've defaulted or are in danger of defaulting. If you need help negotiating with your lender or creating a plan to pay off your loans, consider working with a student loan lawyer or credit counselor. Can I remove unpaid student loans from my credit report? Unless you have rehabilitated federal student loans, negative marks caused by unpaid student loans will remain on your reports for at least seven years. Student loans are notoriously difficult to discharge in bankruptcy, and disputing them on your credit reports will not help, either. What happens if I cannot repay student loans? If you cannot repay your student loans now, you may want to look into federal deferment and forbearance. Both let you pause your student loan payments while you get back on your feet. Interest may still accrue during this time, but either type of relief can buy you time. Some private loans may offer deferment or help. It's important to research hardship assistance options when comparing private student loan lenders. Borrowers with these loans can reach out to their lender for relief options and alternative repayment plans. Can you go to jail for student loan default? Generally speaking, you cannot go to jail for defaulting on your student loans. However, your lender can, and likely will, sue you. On top of this, your credit score could take a significant hit, your wages could be garnished and you could end up owing a lot more in fees and interest over the long run. If there is a lawsuit, not complying with the court could result in an arrest warrant. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
