Stingray Announces Election of Directors
Each of the following ten (10) nominees proposed by the Corporation was duly elected as director of the Corporation by the votes cast at the meeting. The results of the vote are as follows:
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Cision Canada
29 minutes ago
- Cision Canada
Invesque Inc. Reports Second Quarter 2025 Results
Significant Progress Highlighted on Previously Announced Asset Dispositions TORONTO, Aug. 7, 2025 /CNW/ - Invesque Inc. (TSX: IVQ.U) (TSX: IVQ) (the "Company") today reported its results for the three months and six months ended June 30, 2025. Second Quarter and Subsequent Highlights As previously disclosed, the Company closed on several sales transactions during and following the second quarter of 2025: On April 9, the Company sold a seniors housing asset in Syracuse, New York for US$25.1 million On June 3, the Company sold 20 seniors housing assets in Virginia and Pennsylvania and its majority ownership stake in Commonwealth Senior Living, LLC On July 14, the Company sold a seniors housing asset in Syracuse, New York for US$5.8 million On July 25, the Company sold ten memory care assets in Texas, Indiana, Arkansas and Michigan for US$83.2 million Additionally, as previously disclosed, the Company transitioned management of three memory care assets located in Texas and Arkansas to Constant Care Management Company and one seniors housing asset in Louisiana to Viva Senior Living. The Company expects that the new managers of these assets will stabilize operations and further drive financial results. "In addition to achieving attractive valuations on sale transactions completed year to date, we have utilized cash proceeds to materially decrease leverage and streamline our capital stack," commented Kari Onweller, EVP of Investments & Investor Relations for the Company. "We expect to make further progress on debt repayments during the remainder of this year." Financial Highlights ________________________________ 1 FFO is a measure used by management to evaluate operating performance. Please refer to the section "Non-IFRS Measures" in this press release for more information. 2 AFFO is a measure used by management to evaluate operating performance. Please refer to the section "Non-IFRS Measures" in this press release for more information. Balance Sheet and Portfolio Highlights ___________________________________ 3 Excludes one medical office building and 24 seniors housing assets held for sale as of December 31, 2024, and one medical office building and 14 seniors housing assets held for sale as of June 30, 2025 About Invesque The Company is a North American health care real estate company with an investment thesis focused on the premise that an aging demographic in North America will continue to utilize health care services in growing proportion to the overall economy. The Company currently capitalizes on this opportunity by investing in a portfolio of income-generating predominantly private pay seniors housing communities. The Company's portfolio includes investments primarily in independent living, assisted living, and memory care, which are operated under long-term leases, joint venture arrangements, and third-party management contracts. Forward-Looking Information This press release (this "Press Release") contains certain forward-looking information and/or statements ("forward-looking statements"), that reflect and are provided for the purpose of presenting information about management's current expectations and plans relating to the future, including, without limitation, statements regarding the Company's anticipated progress on debt repayments and that the new managers of certain assets will stabilize operations. Forward-looking information is typically identified by terms such as "anticipate," "believe," "continue," "expect," "expectations," "look," "may," "plan," "project," "should," "will," and other similar expressions that do not relate solely to historical matters and suggest future outcomes or events. Readers should not place undue reliance on forward-looking statements and are cautioned that forward-looking statements may not be appropriate for other purposes. Forward-looking information is generally based on a number of assumptions, opinions, and estimates, including, but not limited to: the Company will have the funds to continue to repay its debt and that the new managers will be in a position to stabilize operations of the applicable assets. While these assumptions, opinions, and estimates are considered by the Company to be appropriate and reasonable in the circumstances as of the date of this Press Release, they are subject to a number of known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: the Company not having the funds to repay a portion of its debt, including, without limitation, as a result of the failure or inability to sell assets, the failure of one or more of the new managers of certain assets to stabilize operations, and the risks described in the Company's current annual information form and management's discussion and analysis, available on SEDAR+ at which risks may be dependent on market factors and not entirely within the Company's control. Although management believes that it has a reasonable basis for the expectations reflected in these forward-looking statements, actual results may differ from those suggested by the forward-looking statements for various reasons. These forward-looking statements reflect current expectations of the Company as of the date of this Press Release and speak only as of the date of this Press Release. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers are cautioned not to place undue reliance on any such forward-looking statements, which are given as of the date hereof, and not to use such forward-looking statements for anything other than the intended purpose. Further, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements contained in this Press Release are expressly qualified by this cautionary statement. Non-IFRS Measures The Company reports its financial results in accordance with International Financial Reporting Standard ("IFRS"). Included in this Press Release are certain non-IFRS financial measures as supplemental indicators used by the Company's management to track the Company's performance. These non-IFRS measures are NOI, FFO, and AFFO. The Company believes that these non-IFRS financial measures provide useful information to both the Company's management and investors in measuring the financial performance and financial condition of the Company. These measures do not have a standardized meaning prescribed by IFRS and, therefore, may not be comparable to similar measures presented by other companies, nor should they be construed as an alternative to other financial measures determined in accordance with IFRS. For a full definition of these measures, please refer to the Financial Measures section of the March 31, 2025, MD&A available on the Company's website and on SEDAR+ at which information is incorporated herein by reference, and the full reconciliation to which are included below. FFO Tables Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Net income (loss) from continuing operations for the period $ 15,968 $ (15,128) $ 7,090 $ (20,962) Add/(deduct): Change in fair value of investment properties 7,708 7,585 13,235 3,493 Property taxes accounted for under IFRIC 21 (1,399) (1,609) 1,960 2,842 Depreciation and amortization expense 369 3,497 737 6,955 Amortization of tenant inducements 60 60 120 121 Accretion expense and amortization of non-cash adjustments to the 2016 Convertible Debentures — 2,383 — 4,531 Change in fair value of financial instruments 507 777 931 1,158 Transaction Costs 1,635 42 1,770 318 Loss on sale of property, plant and equipment (30,323) (18) (30,323) (26) Impairment of property, plant and equipment 11 454 21 1,830 Executive severance 492 3,060 492 3,060 Deferred income tax recovery — (716) — (1,605) Allowance for credit losses on loans and interest receivable 1,574 195 1,907 455 Change in non-controlling interest liability in respect of the above (2) (171) (3) (169) Adjustments for equity accounted entities 1,914 1,299 2,695 2,601 FFO from continuing operations $ (1,486) $ 1,710 $ 632 $ 4,602 FFO from discontinued operations (5) (286) (71) (674) Total FFO $ (1,491) $ 1,424 $ 561 $ 3,928 AFFO Tables Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 Cash flows provided by (used in) operating activities $ (9,963) $ (97) $ (9,766) $ 543 Change in non-cash working capital 2,346 (1,150) 4,828 2,364 Less: interest expense (6,187) (9,809) (13,717) (20,406) Less: change in non-controlling interest liability 52 (188) 28 (312) Plus: loss from joint ventures (2,736) (1,448) (3,919) (2,654) Plus: interest paid 13,853 9,926 21,295 19,340 Less: interest received (84) 46 (189) (124) Plus: debt extinguishment costs — — — (412) Plus: realized loss on currency exchange — 3 — 10 Plus: amortization of lease asset 10 (8) 20 28 Plus: non-cash portion of non-controlling interest expense — (170) — (156) Plus: adjustments for equity accounted entities 1,822 1,392 2,575 2,714 Plus: deferred share incentive plan compensation — (74) 2 (59) Plus: executive severance 492 3,060 492 3,060 Plus: interest expense 671 — 671 — Plus: bad debt at previously disposed properties 463 — 463 — Plus: property taxes accounted for under IFRIC 21 (123) — 246 Less: capital maintenance reserve (198) (372) (396) (744) AFFO $ 418 $ 1,111 $ 2,633 $ 3,192 SOURCE Invesque Inc.
The Market Online
an hour ago
- The Market Online
A paradigm shift in the development of the Mt Todd gold project
Today we're talking with Vista Gold (NYSEAM:VGZ)(TSX:VGZ), a company pushing forward at full speed with Mt Todd, its flagship gold project in Australia. This article is disseminated in partnership with Vista Gold Corp., It is intended to inform investors and should not be taken as a recommendation or financial advice. The following is a transcription of the above video, and The Market Online has edited it for clarity . With a fresh Feasibility Study completed earlier this week and a packed 2025 game plan, this story's heating up fast. Frederick Earnest, President and CEO of Vista Gold, joins Coreena Robertson to share where things stand and where they're headed next. Coreena: Now, earlier this week you released impressive results from the new Mt Todd Feasibility Study. Please discuss some of the most important highlights of this study. Frederick: I think first of all with the change in size of the project, we substantially reduced the CapEx of the project. It's dropped almost 60%. The initial CapEx is now estimated to be US$425 million. We've taken some measures to raise the cutoff grade. The average grade of ore delivered to the mill is up 23% at 1.04 grams per ton for the first 15 years of the project. The NPV and IRR, we're just really pleased with those. We used a $2,500 gold price and are reporting an NPV5 of $1.1 billion with an IRR at that gold price of 27.8%. All in sustaining cost, just a little under $1,450 an ounce. So really, really good numbers. Coreena: Now in yesterday's investor conference call, you mentioned that a new study is in a paradigm shift in the development of Mount Todd. Please talk more about that. Frederick: For more than a decade, we've evaluated Mt Todd as a 50,000 ton per day operation, 17.5 million tons per year. We've decided that's just too big for us. And so, this new study looks at a project that is 15,000 tons per day, or 5.3 million tons per annum. That's a big shift right there. And so, in addition to right sizing the project, we've also taken some steps to have the right scope. Some things like, we've brought in contract mining. We've mentioned the prioritizing grade over tons. We're very pleased with the set of consultants that we worked with on this Feasibility Study. Many of whom are based in Australia. The study author GR Engineering Services ('GRES') has a tremendous track record of not only designing but engineering and building gold projects of similar scale in Western Australia. And I think that they bring an incredible amount of credibility to the study. And we've preserved the optionality. Not only have we evaluated this smaller project, but we've allowed the space for it to be expanded and at the same time, not killed ounces, that if a bigger company wants to look at this and evaluate a bigger project, it's still there. So, I think that we've added a new dimension and preserved all of the past excitement about the project. Coreena: Lots of options now, feasibility study first, but then what, what does next steps actually look like for Vista? Are you preparing for a financing push, a partner or straight into development? Frederick: The next 8 to 12 weeks are going to be really busy for us with trying to create broad awareness and interest in this project at a smaller scale. Obviously, we talked about options as far as development whether that's building it ourselves or joint venturing it, or whether it ends up being a transaction at a project level or a corporate level. The first thing is to really get out there on the street and talk about what we've done, what we've accomplished, the selling points of the project, and then we're going to have some work to do to evaluate and further those discussions. We started signing a number of confidentiality agreements several weeks ago. I expect that we'll be signing more. Doug Tobler, our CFO and I are headed to Diggers and Dealers. a big conference in Australia that'll be going on next week. And very excited for the opportunity to meet with some of our Australian gold producing peers and talk about a new Mt Todd Gold Project. Coreena: Now, a lot of juniors talk about value creation, but most don't have a project like Mt Todd to back it up. So, real talk. What needs to line up in 2025 for Vista Gold to finally get the re-rate you believe is coming? Frederick: Well, first of all, I'm counting on a continued strong gold price. I think that's one element that's just really, really important for us. But second of all, one of the things that would help us out immensely would be just a small shift in the focus of producers toward looking at development projects. We've seen tremendous interest in producers acquiring producers. I think that we're at the top of the list when it comes to development stage projects. We have a great project that's large, permits are in place for the large project. We just need a little shift in that the development stage projects are a good thing. I think just genuine interest from one or two companies would go a long ways with the investment community to help them see that this really is a project that can be built today. And then we've got a lot of hard work to do. We're not going to count on luck or anything like that. We know what we've got to do and we're ready to get after it. Join the discussion: Find out what the Bullboards are saying about Vista Gold Corp. and check out Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
Toronto Star
an hour ago
- Toronto Star
Quantum Biopharma Reports Strong Second Quarter with Increased Current and Total Assets, Conversion of all Debentures into Equity, Continued Exclusion of Going Concern, Tripling of Share Price during Quarter, over $500,000 USD Gain in Crypto Assets as of date of filing, and Near Elimination of Debt
TORONTO, Aug. 07, 2025 (GLOBE NEWSWIRE) — Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE: QNTM) (FRA: 0K91) ('Quantum BioPharma' or the 'Company'), is pleased to announce its financial and operational results for the second quarter ending June 30, 2025. Overall, the Company is in a strong position having increased its current and total assets, compared to the previous quarter; eliminated the entire debt liability associated with debentures issued in Q4 2024 and Q1 2025 by converting all debentures into equity; maintained its 'no going concern' status; seen greater than $500,000 USD appreciation in the value of its cryptocurrency reserves as of date of filing; and seen its stock price almost tripled from $7.71 USD at Q1 close March 31, 2025 to $20.25 USD at Q2 close June 30, 2025. Management believes that there is sufficient cash on hand to maintain basic operations beyond March 2027.
