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CTV News
26 minutes ago
- CTV News
‘It's just horrible': Residents protest closure of RBC bank in West End
People are seen protesting on July 3, 2025, outside an RBC branch in the West End that is set to close. (Danton Unger/CTV News Winnipeg) A group of residents are protesting the impending closure of an RBC branch in the West End, saying its departure will leave a hole in the community. Sheila Hazzard has been living in the Spence neighbourhood for 55 years. She's been banking at the RBC on the corner of Sargent and Sherbrook for just as long. But that could soon change. 'It's just horrible when you think of it,' she said. 'I don't think they put a lot of thought into who was here and who wants to stay and bank here.' A spokesperson for RBC told CTV News the branch is set to merge with its Ellice Avenue location near Polo Park. 'Our branch network continually evolves and changes as we seek to serve our clients where and how they wish to conduct their banking. And in some circumstances, this may involve combining branches, relocating certain branches, or opening new ones,' the spokesperson said in a written statement. Its closure has left many residents in the area upset, prompting the protest Thursday. 'A lot of the businesses and the people who live here really need and use this bank,' said Cheryl Martens, an area resident who helped organize the protest. She said the location is the last remaining bank in the neighbourhood which services a large population of newcomers, seniors and low-income residents. It isn't the only location set to close. The RBC on Main Street and James Avenue is also shutting down this month. Martens noted with the closures, residents will either need to bank downtown or take a 20-minute bus ride to the Ellice location. 'It becomes a tax on the poor, because now it's a $7 bus round trip to be able to do your banking,' said Ralph Bryant, one of the residents who joined the protest. Health Minister Uzoma Asagwara, MLA for Union Station, said they have been banking at the Sargent location for years. They wrote a letter asking for the bank to stay open, but so far, they said they've received no response. 'We're hoping that they continue to listen, meet with the community, listen to seniors in the neighbourhood, understand how devastating the closure of this location would be for folks living in this community,' Asagwara said. 'Make the right choice here. RBC needs to stay in the neighbourhood, stay in Union Station and continue to be a part of our community in a positive way.' For Hazzard, she said if the branch does close, she will be switching banks after more than five decades as a client. But she is hopeful it won't come to that. 'No matter how late it is, I have hope until the hour has passed,' she said. The RBC spokesperson told CTV News that following the closure, clients can choose whatever branch is most convenient to them. They said RBC is committed to working one-on-one with clients who need support during the transition.
Globe and Mail
36 minutes ago
- Globe and Mail
Abcourt Closes US$ 8M Loan Facility to Start Sleeping Giant Mine
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. ROUYN-NORANDA, Quebec, July 03, 2025 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (' Abcourt ' or the ' Corporation ') (TSX Venture: ABI) (OTCQB: ABMBF) is pleased to announce that it has closed today (the ' Closing Date ') its previously announced secured financing facility (' Financing Facility ') with Nebari Natural Resources Credit Fund II, LP (' Nebari ' or the ' Lender ') in an amount of US$8 million (' Principal Amount ') for a 36-months period. Pascal Hamelin, President and CEO of Abcourt, commented: 'Closing this transaction with Nebari is a major step toward starting production at the Sleeping giant Mine. This investment of USD 8M of non-dilutive capital offers us solid operational flexibility going forward and allows the Company to develop the Sleeping Giant Mine toward a commercial production status. I would like to thank Nebari for working with us to realize the opportunity in this high-grade gold mine. With this Credit Facility in place, Abcourt is well funded to start the Sleeping Giant Mine'. Steven Bowles, Managing Director of the Lender, commented: "Nebari is pleased to partner with Abcourt Mines as it restarts its Sleeping Giant Mine. The depth of experience and level of preparedness of the Abcourt and Sleeping Giant teams give us the utmost confidence in their ability to bring the operation to its full potential and beyond." In accordance with the terms of the comprehensive credit agreement entered into between the Corporation and the Lender, interest will accrue on the Principal Amount based on a floating rate per annum equal to the sum of: (i) the three-month term SOFR (Secured Overnight Financing Rate) (the ' Term SOFR '), as determined on the first date of each calendar month; and (ii) 12 % per annum, provided that, if the Term SOFR is less than 4%, it shall be deemed to be 4%. The Financing Facility may be repaid prior to maturity after the first year, subject to a minimum prepayment amount of US$1,000,000 and the payment of a make-whole payment to provide the Lender with a 25% absolute return on the Principal Amount prepaid. The Corporation issued 87,040,000 non-transferable warrants (the ' Warrants ') to the Lender. Each Warrant is exercisable for one common share of the Corporation (a ' Warrant Share ') at an exercise price of $0.0625 per Warrant Share until July 3, 2028, subject to a pro-rata reduction if the Principal Amount is prepaid in whole or in part before July 3, 2026. In such case, a pro rata number of Warrants will have their term reduced to the later of July 3, 2026 and 30 days from the date of such Principal Amount reduction or repayment, in accordance with the policies of the TSX Venture Exchange (' TSXV '). The Warrants remain subject to the final approval of the TSXV. The Corporation also paid the Lender an arrangement fee in the amount of US$ 120,000 and, beginning the first full month after the Closing Date, will pay a monthly administration fee of US$ 2,500 until all amounts owed under the Financing Facility have been paid in full. The Corporation has entered into security arrangements with the Lender to register a first priority senior security, subject to certain permitted liens, on the universality of the Corporation's movable and immovable property, corporeal and incorporeal, present and future, of any nature whatsoever and wheresoever situated, including, real property interests, mining rights, inventory and equipment. With this Financing Facility in place, Abcourt will start the significant items needed to start producing gold in at the Sleeping Giant mine and mill, which in the coming months include: Building a sleep camp and kitchen at the mine site to lodge the workers, Continue the work in the tailing facilities to store the pulps for the coming years, Begin production in the upper level of the mine, Develop lower levels of mine to open new mining fronts. The Financing Facility was previously announced on April 10, 2025, June 18, 2025 and June 26, 2025. Finder's fees in an amount representing 1% of the Principal Amount are payable in cash to an arm's length third party in connection with the Financing Facility. All securities issued in connection with the Financing Facility are subject to a restricted period under applicable securities laws, ending on the date that is four months plus one day following the Closing Date. These securities have not been, nor will they be, registered under the U.S. Securities Act, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. ABOUT ABCOURT MINES INC. Abcourt Mines Inc. is a Canadian development company with properties strategically located in northwestern Québec, Canada. Abcourt owns the Sleeping Giant mine and mill, as well as the Flordin property, where it focuses its development activities. For more information about Abcourt Mines Inc., please visit our website at and view our filings under Abcourt's profile on Pascal Hamelin Dany Cenac Robert, Investor Relations President and CEO Reseau ProMarket Inc. T : (819) 768-2857 T : (514) 722-2276, # 456 Email: phamelin@ FORWARD-LOOKING STATEMENTS Certain information contained in this news release may constitute "forward-looking information" within the meaning of Canadian securities legislation. Generally, forward-looking information can be identified by using forward-looking terminology, such as "plans", "aims", "expects", "projects", "intends", "anticipates", "estimates", "could", "should", "likely", or variations of such words and phrases or statements specifying that certain acts, events or results "may", "should", "will" or "be achieved" or other similar expressions. Forward-looking statements, including the expectation of the Corporation with respect to the expected use of the proceeds from the Financing Facility and the final approval of the TSXV, are based on Abcourt's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause Abcourt's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements or information. Forward-looking statements are subject to business, economic and uncertainties and other factors that could cause actual results to differ materially from these forward-looking statements, including the relevant assumptions and risk factors set forth in Abcourt's public filings, which are available on SEDAR+ at Although Abcourt believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, there can be no assurance that these statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Except as required by applicable securities laws, Abcourt disclaims any intention or obligation to update or revise any such forward-looking statements or information, whether as a result of new information, future events or otherwise. 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.
Globe and Mail
36 minutes ago
- Globe and Mail
Mustang Energy Corp. Receives Exploration Permit for 914W Uranium Project
VANCOUVER, British Columbia, July 03, 2025 (GLOBE NEWSWIRE) -- Mustang Energy Corp. (CSE: MEC, OTC:MECPF, FRA:92T) (the ' Company ' or ' Mustang ') is pleased to announce it has received exploration permits from the Saskatchewan Government, allowing for ground-based exploration activities at the 914W Uranium Project (the ' Project ') south of the Athabasca Basin, Saskatchewan. The permit includes Crown Land Work Authorization, Aquatic Habitat Protection Permit, Forest Product Permit and Temporary Work Camp Permit. This authorizes Mustang to carry out mineral exploration activities such as trail construction, line-cutting, ground geophysical surveys, and diamond drilling. The approved permits are valid until April 30, 2028. As part of the permit conditions, Mustang will continue to engage with local communities to address any ongoing concerns and ensure sustainable project implementation. Consultation and environmental stewardship remains a priority, with specific measures to minimize disturbance and support reclamation efforts. Mustang purchased an interest in the Project pursuant to an option agreement (the ' Option Agreement ') with Skyharbour Resources Ltd. whereby Mustang may acquire a 75% interest in the Project by satisfying certain conditions. Please refer to the Company's news release dated November 13, 2024, as filed under the Company's SEDAR+ profile, for further details regarding the Option Agreement. About the 914W Uranium Project The Project consists of one claim covering 1,260 hectares. It is situated approximately 48 km southwest of Cameco's Key Lake Operation, offering favourable logistics and access via Highway 914. The Project is positioned within the Western Wollaston Domain, known for unconformity/basement hosted uranium mineralization. The Project hosts favorable geology with local graphite bearing assemblages. Immediately to the north of the 914W property is the Scurry Rainbow Zone E 1 and the Don Lake Trenches 2, where up to 1,288 ppm U was encountered in drill hole ML-1 1, and surface prospecting revealed up to 0.64% U 3 O 8 in a trench at Don Lake Zone E 2. While historical exploration conducted several geophysical and geological surveys over portions of the property, most of the Project remains underexplored. Mustang sees notable potential for advancing uranium and rare earth element (REE) exploration on this property. The Company advises that, notwithstanding the proximity of location, discoveries of minerals on or near the Scurry Rainbow Zone E, Don Lake Trenches, and Cameco's Key Lake Operation, and any promising results thereof are not necessarily indicative of the mineralization of, or located on the Project, or the Company's ability to commercially exploit the Project, or to locate any commercially exploitable deposits therefrom. The Company cautions investors on relying on this information as the Company has not confirmed the accuracy or reliability of the information. Figure 1: Location Map for the 914W Uranium Project, Northern Saskatchewan. 3 References 1. SMDI# 1961, Drill hole ML-1 or Scurry Rainbow E Zone, retrieved from: 2. SMDI# 1983, Don Lake Radioactive Zones C, D, and E, retrieved from: 3. Saskatchewan GeoAtlas, retrieved from: Qualifying Statement The scientific and technical information in this release has been reviewed and approved by Lynde Guillaume, Technical Advisor for Mustang Energy, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Ms. Guillaume is a Qualified Person as defined by National Instrument 43-101. About Mustang Energy Corp.: Mustang Energy Corp. is a Canadian mineral exploration company focused on the discovery and development of high-potential uranium and critical mineral assets. The company holds a portfolio of 147,153 hectares of strategically located properties in Saskatchewan's Athabasca Basin—one of the world's premier uranium districts. Mustang is advancing early-stage exploration through modern techniques and a disciplined, data-driven approach. The Company is committed to building long-term value through responsible exploration and a focus on high-impact targets in underexplored areas. For further information, please contact: Mustang Energy Corp. Attention: Nicholas Luksha, CEO and Director Phone: (604) 838-0184 Neither the CSE nor the Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as 'intends', 'believes' or 'anticipates', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'should', 'would' or 'occur'. This information and these statements, referred to herein as 'forward‐looking statements', are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the future potential of the Project and the completion of future work on the Project. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation the assumption that the Company will be able to continue exploring its properties given various environmental and economic factors outside of its control and that the Company will continue to maintain the Option Agreement in good standing. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
