
First Northern Community Bancorp Reports Second Quarter 2025 Net Income of $5.5 Million
Net income for the quarter ended June 30, 2025, was $5.5 million, or $0.35 per diluted share, up 23.6% compared to net income of $4.4 million, or $0.27 per diluted share, for the quarter ended June 30, 2024.
Total assets as of June 30, 2025, were $1.87 billion, a decrease of $16.0 million, or 0.9%, compared to June 30, 2024. Total net loans (including loans held-for-sale) as of June 30, 2025, were $1.06 billion, an increase of $14.1 million, or 1.3%, compared to total net loans (including loans held-for-sale) of $1.05 billion as of June 30, 2024. The increase in net loans was primarily driven by growth in commercial loans, which was partially offset by net reductions in commercial real estate, agricultural, and residential mortgage loans. Total deposits as of June 30, 2025, were $1.66 billion, a decrease of $43.8 million, or 2.6%, compared to June 30, 2024.
The Company continued to be 'well capitalized' under regulatory definitions, exceeding the 10% total risk-based capital ratio threshold as of June 30, 2025.
Commenting on the Company's second quarter financial results, First Northern Bank's President & Chief Executive Officer, Jeremiah Z. Smith, stated, 'We are pleased to report strong second quarter results, with net income increasing by 23.6% compared to the same quarter last year. Our net margin expanded to 3.85%, an increase of 19 basis points from 3.66%, driving a $1.0 million, or 6.1%, increase in net interest income when compared to the year prior. This improvement was due to higher yields on our loan and securities portfolios, along with disciplined deposit pricing that kept interest-bearing liability costs nearly flat during the quarter. We recorded no provision for credit losses in the quarter, due to the release of a $2.8 million specific reserve initially recorded during the first quarter of 2025. The release of specific provision was offset by an increase in pooled and unfunded reserves tied to loan growth and changes in economic forecasts.'
Commenting further, President & CEO Smith stated: 'We remain committed to improving shareholder value. During the first two quarters of the year, we repurchased 215,883 shares for total consideration of $2.2 million. Shareholders' equity improved from $187.8 million on March 31, 2025, to $194.9 million on June 30, 2025 - an increase of $7.1 million, or 3.8%, primarily driven by net income of $5.5 million and a $2.3 million improvement in accumulated other comprehensive loss for the quarter. As a result, book value per share increased $0.51 to $12.32 as of June 30, 2025, up 4.3% compared to March 31, 2025.'
Performance and operating highlights for the Company for the periods noted below included the following:
Three months ended
(in thousands, except per share and share data)
June 30,
2025
March 31,
2025
June 30,
2024
Return on average assets ('ROAA') (annualized)
1.18
%
0.79
%
0.95
%
Return on average equity ('ROAE') (annualized)
11.67
%
8.23
%
10.87
%
Pre-tax income
$
7,597
$
4,956
$
6,113
Net income
$
5,466
$
3,671
$
4,424
Net interest margin (annualized)
3.85
%
3.64
%
3.66
%
Cost of funds (annualized)
0.88
%
0.86
%
0.84
%
Efficiency ratio
58.91
%
66.62
%
58.98
%
Basic earnings per common share
$
0.35
$
0.23
$
0.28
Diluted earnings per common share
$
0.35
$
0.23
$
0.27
Weighted average basic common shares outstanding
15,606,764
15,650,176
15,949,825
Weighted average diluted common shares outstanding
15,811,754
15,879,822
16,149,929
Shares outstanding at end of period
15,818,328
15,897,929
16,178,149
Summary Results (Unaudited)
The following is a summary of the components of the Company's operating results for the periods indicated:
Three months ended
(in thousands)
June 30,
2025
March 31,
2025
$ Change
% Change
Selected operating data:
Net interest income
$
16,953
$
15,943
$
1,010
6.34
%
Provision for credit losses
—
850
(850
)
(100.00
)%
Non-interest income
1,537
1,453
84
5.78
%
Non-interest expense
10,893
11,590
(697
)
(6.01
)%
Pre-tax income
7,597
4,956
2,641
53.29
%
Provision for income taxes
2,131
1,285
846
65.84
%
Net income
$
5,466
$
3,671
$
1,795
48.90
%
Three months ended
(in thousands)
June 30,
2025
June 30,
2024
$ Change
% Change
Selected operating data:
Net interest income
$
16,953
$
15,978
$
975
6.10
%
Provision for credit losses
—
1,050
(1,050
)
(100.00
)%
Non-interest income
1,537
1,484
53
3.57
%
Non-interest expense
10,893
10,299
594
5.77
%
Pre-tax income
7,597
6,113
1,484
24.28
%
Provision for income taxes
2,131
1,689
442
26.17
%
Net income
$
5,466
$
4,424
$
1,042
23.55
%
Balance Sheet Summary (Unaudited)
(in thousands)
June 30,
2025
December 31,
2024
$ Change
% Change
Selected financial condition data:
Total assets
$
1,871,990
$
1,891,722
$
(19,732
)
(1.04
)%
Cash and cash equivalents
126,851
119,448
7,403
6.20
%
Total loans, net (including loans held-for-sale)
1,063,458
1,046,852
16,606
1.59
%
Total investments
593,550
633,853
(40,303
)
(6.36
)%
Total liabilities
1,677,105
1,715,390
(38,285
)
(2.23
)%
Total deposits
1,663,277
1,700,089
(36,812
)
(2.17
)%
Total shareholders' equity
194,885
176,332
18,553
10.52
%
Net Interest Income and Net Interest Margin (Unaudited)
The following table shows the components of net interest income and net interest margin for the quarterly periods indicated:
Three months ended
June 30, 2025
March 31, 2025
June 30, 2024
Assets
Interest-earning assets:
Certificates of deposit
15,112
157
4.17
%
15,868
161
4.11
%
17,081
171
4.03
%
Interest-bearing due from
Banks
85,828
1,010
4.72
%
70,468
727
4.18
%
130,963
1,913
5.87
%
Investment securities,
Taxable
560,021
4,137
2.96
%
587,332
4,348
3.00
%
519,789
3,088
2.39
%
Investment securities,
non-taxable
49,497
391
3.17
%
50,403
393
3.16
%
38,055
261
2.76
%
Other interest-earning
assets
10,808
250
9.28
%
10,518
272
10.49
%
10,518
267
10.21
%
Total average interest-
earning assets
1,765,847
20,574
4.67
%
1,777,148
19,503
4.45
%
1,757,508
19,530
4.47
%
Non-interest-earning assets:
Cash and due from banks
30,777
34,338
39,630
Premises & equipment, net
7,866
9,145
9,642
Interest receivable and other assets
53,556
52,755
59,523
Total average assets
$
1,858,046
$
1,873,386
$
1,866,303
Liabilities and Stockholders' Equity
Interest-bearing liabilities:
Interest-bearing transaction
deposits
$
383,761
693
0.72
%
$
385,953
$
691
0.73
%
$
371,657
622
0.67
%
Savings and MMDA's
447,276
1,602
1.44
%
451,198
1,550
1.39
%
425,601
1,272
1.20
%
Time, $250,000 and under
88,024
889
4.05
%
99,503
973
3.97
%
123,303
1,356
4.42
%
Time, over $250,000
51,942
362
2.80
%
44,028
346
3.19
%
34,605
302
3.51
%
FHLB advances
6,593
75
4.56
%
—
—
—
—
—
—
Non-interest-bearing
liabilities:
Non-interest-bearing
demand deposits
679,144
697,972
732,153
Interest payable and
other liabilities
13,505
13,919
15,737
Total average liabilities
1,670,245
1,692,573
1,703,056
Total average stockholders'
equity
187,801
180,813
163,247
Total average liabilities and
stockholders' equity
$
1,858,046
$
1,873,386
$
1,866,303
Net interest income and net
interest margin
$
16,953
3.85
%
$
15,943
3.64
%
$
15,978
3.66
%
(1) For disclosure purposes, yield/rates are annualized by dividing the number of days in the reported period by 365.
About First Northern Bank
First Northern Bank is an independent community bank that specializes in relationship banking. The Bank, headquartered in Solano County since 1910, serves Solano, Yolo, Sacramento, Placer, Colusa, and Glenn counties, as well as the west slope of El Dorado County. Experts are available in small business, commercial, real estate, and agribusiness lending, as well as mortgage loans. The Bank is an SBA Preferred Lender. Real estate mortgage and small-business loan officers are available by appointment at any of the Bank's 14 branches, including Dixon, Davis, West Sacramento, Fairfield, Vacaville, Winters, Woodland, Sacramento, Roseville, Auburn, Rancho Cordova, Colusa, Willows, and Orland. Non-FDIC insured Investment and Brokerage Services are also available at every branch location. First Northern Bank is rated as a Veribanc 'Green-3 Star Blue Ribbon' Bank and a '5-Star Superior' Bank by Bauer Financial for the earnings period ended March 31, 2025 ( www.veribanc.com) and ( www.bauerfinancial.com). For additional information, please visit thatsmybank.com or call (707) 678-7742. Member FDIC. Equal Housing Lender.
Forward-Looking Statements
This press release and other public statements may include certain 'forward-looking statements' about First Northern Community Bancorp and its subsidiaries (the 'Company'). These forward-looking statements are based on management's current expectations, including but not limited to statements about the Company's performance and focus on improving shareholder value, and are subject to certain risks, uncertainties and changes in circumstances. Actual results may differ materially from these expectations due to changes in global political, economic, trade, business, competitive, market and regulatory factors. More detailed information about these risk factors is contained in the Company's reports filed with the Securities and Exchange Commission on Forms 10-K and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ materially from those contained in the forward-looking statements. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's most recent reports on Form 10-K and Form 10-Q, and any reports on Form 8-K. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances arising after the date on which they are made. For further information regarding the Company, please read the Company's reports filed with the SEC and available at www.sec.gov.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Cision Canada
11 minutes ago
- Cision Canada
VVT Med Inc. Engages Independent Trading Group as Market Maker
TORONTO, Aug. 13, 2025 /CNW/ - VVT Med Inc. (TSXV: VVTM) (" VVT" or the " Company"), announces that it has entered into a market making service agreement (the " Agreement") with Independent Trading Group (" ITG") dated August 13, 2025. Pursuant to the Agreement, ITG will provide market-making services in accordance with TSX Venture Exchange (the " TSVX") policies and will trade shares of the Company on the TSXV and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company's common shares. The Agreement is subject to final approval from the TSXV. ITG will receive compensation of CAD$5,000 per month, payable monthly in advance. The Agreement is for an initial term of one month and will renew for additional one-month terms unless terminated. The Agreement may be terminated by either party with 30 days' notice. There are no performance factors contained in the Agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the Agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company. About Independent Trading Group Independent Trading Group (ITG) Inc. is a Toronto based CIRO dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors. About VVT Med Inc. VVT develops, manufactures, and commercializes minimally invasive, non-thermal, and non-tumescent solutions for the treatment of varicose veins. VVT's products offer several key competitive advantages over traditional alternatives, including faster treatment times, reduced pain without the need for anesthesia, and quicker recovery and results. Cautionary Note Regarding Forward-Looking Statements This news release contains statements that constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements in this document include, among others, statements with respect to the engagement of ITG including the duration and TSXV approval of such engagement. Such statements and information reflect the current view of the Company. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such 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 that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. 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. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.


Cision Canada
11 minutes ago
- Cision Canada
Denison Announces Pricing of Upsized US$300 Million Convertible Senior Notes Offering
TORONTO, Aug. 13, 2025 /CNW/ - Denison Mines Corp. (TSX: DML)(NYSE AMERICAN: DNN) ("Denison" or the "Company") announces that, on August 12, 2025, it upsized and priced its previously announced offering of convertible senior unsecured notes due 2031 (the "Notes") for an aggregate principal amount of US$300 million (the "Offering"). The Company has granted the initial purchasers of the Notes an option for a period of 13 days, beginning on, and including the date on which the Notes are first issued, to purchase up to an additional US$45 million aggregate principal amount of Notes. PDF Version View PDF The Notes will bear cash interest semi-annually at a rate of 4.25% per annum. The initial conversion rate for the Notes will be 342.9355 common shares of Denison ("Shares") per US$1,000 principal amount of Notes, equivalent to an initial conversion price of approximately US$2.92 per Share. The initial conversion rate represents a premium of approximately 35% relative to the closing sale price of the Shares on August 12, 2025 and is subject to adjustment in certain events. The Notes will be convertible into Shares, cash or a combination of Shares and cash, at the Company's election. Denison will have the right to redeem the Notes in certain circumstances and holders will have the right to require Denison to repurchase their Notes upon the occurrence of certain events. The Offering is expected to close, subject to customary closing conditions, on or about August 15, 2025. The Company intends to use the net proceeds from the Offering for expenditures to support the evaluation and development of the Company's uranium development projects, including the Wheeler River Uranium Project and general corporate purposes. Additionally, the Company intends to pay the purchase price of approximately US$30.75 million (or approximately US$35.36 million if the initial purchasers fully exercise their option to purchase additional Notes) for the capped call transactions described below with a portion of the net proceeds from the Offering or from existing cash on hand. In connection with the pricing of the Notes, Denison has entered into privately negotiated cash-settled capped call transactions with one or more of the initial purchasers of the Notes, their respective affiliates and/or other financial institutions (the "capped call counterparties"). The capped call transactions will cover, subject to anti-dilution adjustments substantially similar to those applicable to the Notes, the number of Shares that will initially underlie the Notes, assuming the initial purchasers do not exercise their option to purchase additional Notes. The cap price of the capped call transactions is initially US$4.32 per Share representing a premium of 100% above the last reported sale price of US$2.16 per Share on August 12, 2025 and is subject to certain adjustments under the terms of the capped call transactions. The capped call transactions are expected generally to reduce potential economic dilution upon conversion of the Notes and/or offset any cash payments that Denison could be required to make in excess of the principal amount of any converted Notes upon conversion thereof, as the case may be, with such reduction and/or offset subject to a cap. If the initial purchasers exercise their option to purchase additional Notes, Denison expects to use the net proceeds from the sale of additional Notes for general corporate purposes and additionally, the Company intends to use the net proceeds from the sale of the additional Notes or existing cash on hand to fund the cost of entering into additional capped call transactions with the capped call counterparties. In connection with establishing their initial hedges of the capped call transactions, the capped call counterparties have advised Denison that they or their respective affiliates expect to enter into various derivative transactions with respect to the Shares concurrently with, or shortly after, the pricing of the Notes, and may unwind these various derivative transactions and purchase Shares in open market transactions shortly after the pricing of the Notes. This activity could increase (or reduce the size of any decrease in) the market price of the Shares or the Notes at that time. In addition, the capped call counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to the Shares and/or purchasing or selling the Shares or other of Denison's securities in secondary market transactions following the pricing of the Notes and prior to the maturity of the Note (and are likely to do so during any observation period related to a conversion of a Note). This activity could also cause or avoid an increase or a decrease in the market price of the Shares or the Notes, which could affect a noteholder's ability to convert the Notes and, to the extent the activity occurs during any observation period related to a conversion of the Notes, it could affect the number of Shares and value of the consideration that noteholders will receive upon conversion of the Notes. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the NYSE American. The Notes issued in connection with the Offering and the Shares issuable upon the conversion of Notes will be subject to a statutory hold period in accordance with applicable securities legislation. The Company intends to rely on the Exemptions for Eligible Interlisted Issuer in accordance with section 602.1 of the TSX Company Manual. The Notes and the Shares issuable upon the conversion thereof have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), registered under any state securities laws, or qualified by a prospectus in any province or territory of Canada. The Notes and the Shares may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from registration under the Securities Act. The Notes will be offered only to "qualified institutional buyers" (as defined in Rule 144A under the Securities Act). Offers and sales in Canada will be made only pursuant to exemptions from the prospectus requirements of applicable Canadian provincial and territorial securities laws. This press release is neither an offer to sell nor the solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About Denison Denison is a uranium mining, exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. The Company has an effective 95% interest in its flagship Wheeler River Uranium Project, which is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region of northern Saskatchewan. In mid-2023, a feasibility study was completed for the Phoenix deposit as an ISR mining operation, and an update to the previously prepared 2018 Pre-Feasibility Study was completed for Wheeler River's Gryphon deposit as a conventional underground mining operation. Based on the respective studies, both deposits have the potential to be competitive with the lowest cost uranium mining operations in the world. Permitting efforts for the planned Phoenix ISR operation commenced in 2019 and are nearing completion with approval of the project's Environmental Assessment ("EA") received from the Province of Saskatchewan and Canadian Nuclear Safety Commission hearing dates set in the fall of 2025 for Federal approval of the EA and project construction license. Denison's interests in Saskatchewan also include a 22.5% ownership interest in the McClean Lake Joint Venture ("MLJV"), which includes unmined uranium deposits (with the mining at the McClean North deposit via the MLJV's Surface Access Borehole Resource Extraction (SABRE) mining method having commenced in July 2025) and the McClean Lake uranium mill (currently utilizing a portion of its licensed capacity to process the ore from the Cigar Lake mine under a toll milling agreement), plus a 25.17% interest in the Midwest Joint Venture's Midwest Main and Midwest A deposits, and a 70.55% interest in the Tthe Heldeth Túé ("THT") and Huskie deposits on the Waterbury Lake Property. The Midwest Main, Midwest A, THT and Huskie deposits are located within 20 kilometres of the McClean Lake mill. Taken together, Denison has direct ownership interests in properties covering ~384,000 hectares in the Athabasca Basin region. Additionally, through its 50% ownership of JCU (Canada) Exploration Company, Limited ("JCU"), Denison holds additional interests in various uranium project joint ventures in Canada, including the Millennium project (JCU, 30.099%), the Kiggavik project (JCU, 33.8118%), and Christie Lake (JCU, 34.4508%). In 2024, Denison celebrated its 70th year in uranium mining, exploration, and development, which began in 1954 with Denison's first acquisition of mining claims in the Elliot Lake region of northern Ontario. The Toronto Stock Exchange and NYSE American LLC neither approve nor disapprove the information contained in this press release. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Certain information contained in this press release constitutes 'forward-looking information' within the meaning of the applicable United States and Canadian legislation, concerning the business, operations and financial performance and condition of Denison. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'potential', 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes', or the negatives and/or variations of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' 'be taken', 'occur' or 'be achieved'. In particular, this press release contains forward-looking information pertaining to the following: statements relating to the Offering, including the option to purchase additional Notes, if any, the terms of the Notes, the anticipated timing for closing of the Offering, the anticipated use of proceeds and the intention to enter into capped call transactions; and expectations regarding Denison's joint venture ownership interests and agreements with third parties. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. Denison believes that the expectations reflected in this forward-looking information are reasonable but no assurance can be given that these expectations will prove to be accurate and results may differ materially from those anticipated in this forward-looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the factors discussed in Denison's Annual Information Form dated March 28, 2025 under the heading 'Risk Factors' or in subsequent quarterly financial reports. These factors are not, and should not be construed as being, exhaustive. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this press release. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this press release to conform such information to actual results or to changes in Denison's expectations except as otherwise required by applicable legislation.


Cision Canada
11 minutes ago
- Cision Canada
DeFi Technologies Announces Shareholder Call to Discuss Q2 2025 Financial Results
TORONTO, Aug. 13, 2025 /CNW/ - DeFi Technologies Inc. (the " Company" or " DeFi Technologies") (the " Company" or " DeFi Technologies") (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B), a financial technology company bridging the gap between traditional capital markets and decentralized finance ("DeFi"), today announced it will hold a shareholder call on Friday, August 15, 2025 at 12:00 p.m. EST to discuss its financial performance for the three-month period ended June 30, 2025. The call will follow the release of the Company's Q2 2025 financial statements after market close on Thursday, August 14, 2025. IMPORTANT – To register for the webcast see below: When: August 15, 2025 Time: 12:00 PM Eastern Time Topic: DeFi Technologies Q2 2025 Financials Register in advance for this webinar: After registering, you will receive a confirmation email containing information about joining the webinar. Learn more about DeFi Technologies at About DeFi Technologies DeFi Technologies Inc. (Nasdaq: DEFT) (CBOE CA: DEFI) (GR: R9B) is a financial technology company bridging the gap between traditional capital markets and decentralized finance (" DeFi"). As the first Nasdaq-listed digital asset manager of its kind, DeFi Technologies offers equity investors diversified exposure to the broader decentralized economy through its integrated and scalable business model. This includes Valour, which offers access to dozens of the world's most innovative digital assets via regulated ETPs; Stillman Digital, a digital asset prime brokerage focused on institutional-grade execution and custody; Reflexivity Research, which provides leading research into the digital asset space; Neuronomics, which develops quantitative trading strategies and infrastructure; and DeFi Alpha, the company's internal arbitrage and trading business line. With deep expertise across capital markets and emerging technologies, DeFi Technologies is building the institutional gateway to the future of finance. Follow DeFi Technologies on LinkedIn and X/Twitter, and for more details, visit DeFi Technologies Subsidiaries About Valour Valour Inc. and Valour Digital Securities Limited (together, " Valour") issues exchange traded products (" ETPs") that enable retail and institutional investors to access digital assets in a simple and secure way via their traditional bank account. Valour is part of the asset management business line of DeFi Technologies. For more information about Valour, to subscribe, or to receive updates, visit About Stillman Digital Stillman Digital is a leading digital asset liquidity provider that offers limitless liquidity solutions for businesses, focusing on industry-leading trade execution, settlement, and technology. For more information, please visit About Reflexivity Research Reflexivity Research LLC is a leading research firm specializing in the creation of high-quality, in-depth research reports for the bitcoin and digital asset industry, empowering investors with valuable insights. For more information please visit About Neuronomics AG Neuronomics AG is a Swiss asset management firm specializing in AI-powered quantitative trading strategies. By integrating artificial intelligence, computational neuroscience and quantitative finance, Neuronomics delivers cutting-edge solutions that drive superior risk-adjusted performance in financial markets. For more information please visit Cautionary note regarding forward-looking information: This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the financial results of the Company; the shareholder call; development of ETPs; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by DeFi Technologies and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited to the growth and development of decentralized finance and the digital asset sector; rules and regulations with respect to decentralized finance and digital assets; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 information 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 information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.