Ostrom Climate Reports Audited Year-End 2024 and Fiscal Q4 Financial Statements and Announces Leadership Changes
VANCOUVER, BC / ACCESS Newswire / April 30, 2025 / Ostrom Climate Solutions Inc. ('Ostrom' or the 'Company') (TSX-V:COO)(Frankfurt:9EAA), a leading provider of carbon project development and climate solutions, today announced its financial results for the fourth quarter and the full fiscal year ended December 31, 2024.
Fiscal 2024 was a transitional year for Ostrom Climate as the Company undertook an extensive restructuring and repositioning initiative. Against a backdrop of sector-wide volatility in the voluntary carbon markets, the Company made strategic investments in long-term project development and executed aggressive cost containment measures designed to right size the Company's cost structure, streamline operations, increase future operating leverage, and position Ostrom for sustainable, high-margin growth. Management actions taken during 2024 were focused on re-aligning the Company's structure and cost base with its long-term strategy to become a leading owner-developer of high-integrity carbon projects. The restructuring was designed to evolve from a consulting-heavy, low-margin model inherited from prior management, toward a scalable, asset-backed platform focused on high-integrity carbon project development and ownership.
Management Commentary
'Fiscal 2024 was a necessary reset for Ostrom Climate,' said Tejinder Virk, CEO of Ostrom Climate Solutions Inc. 'We aggressively restructured the Company, refocused our strategy, and invested heavily into building scalable project infrastructure, particularly through the development of our flagship Climate-Smart Rice project in the Philippines. While our trading and consulting businesses experienced cyclical softness, reflecting broader volatility in voluntary carbon markets, we materially reduced our fixed cost base to create operating leverage as markets recover.
This year marked a turning point: we secured a landmark Emission Reduction Purchase Agreement (ERPA) with a Fortune Global 500 buyer, advanced our presence in compliance carbon markets, and implemented stronger internal governance and financial oversight. While near-term results reflect the costs of transformation, we have taken deliberate steps to position Ostrom for sustainable, high-margin growth.
With a streamlined structure, an expanded leadership team, a new CFO onboard, and a sharper strategic focus on compliance and high-integrity carbon removal markets, Ostrom is entering 2025 with greater discipline, stronger foundations, and an unwavering commitment to delivering scalable, impactful climate solutions globally. As we scale, we also intend to deleverage as soon as possible-prioritizing the repayment of obligations incurred under previous management-using improved cash flow and disciplined capital allocation to strengthen our balance sheet, reduce financial risk, and unlock value for shareholders.'
Financial Highlights:
The fiscal year and fourth quarter financial results reflect a period of strategic realignment and restructuring, during which Ostrom exited unprofitable legacy consulting contracts, absorbed restructuring costs related to leadership changes, and reoriented its business model toward direct project development and ownership. Although the near-term financial performance was impacted, these changes were necessary to strengthen the Company's foundation and improve future scalability. In light of these changes, we present the fiscal and fourth quarter highlights summary below:
Fiscal Year Financial Highlights:
Fourth Quarter Financial Highlights:
Below is the fourth quarter financial highlights summary:
Operational and Strategic Developments
During Q4 2024, Ostrom Climate advanced the development of its flagship Climate-Smart Rice Project under the Upper Pampanga River Integrated Irrigation System (UPRIIS) in the Philippines. The Company continued to focus on feasibility assessments, stakeholder engagement, and early-stage development activities aligned with sustainable rice cultivation practices aimed at methane reduction. Significant investments were made in research and development, including fieldwork and project design, to support future issuance of high-quality Verified Emission Reductions (VERs) under international standards.
At the same time, the Company's Net Zero Solutions (NZS) and Carbon Intelligence Services (CIS) business lines continued to provide policy analysis, project feasibility studies, and MRV (monitoring, reporting, and verification) frameworks to both voluntary and compliance carbon market participants. These services helped maintain client engagement while Ostrom pivoted its strategic focus toward long-term project ownership.
Additionally, on September 12, 2024, Ostrom appointed Tejinder Virk as Chief Executive Officer. This leadership change was designed to accelerate the Company's shift toward building a scalable, recurring revenue model anchored in direct carbon project development.
'The Company's financial results for fiscal 2024 should be viewed in the context of this deliberate restructuring phase, with initiatives now in place to drive future margin expansion and revenue stability with our Carbon Project Development (CPD) business. In 2024, we invested approximately $1.7 million into project development activities, with a major focus on building the foundational infrastructure for our UPRIIS Climate-Smart Rice project,' said Tejinder Virk, CEO of Ostrom Climate Solutions Inc. 'A portion of these expenditures has been capitalized in accordance with IFRS accounting standards, reflecting the long-term value and recurring revenue potential we are building. We view these investments not simply as costs, but as critical groundwork for scaling our impact, delivering durable climate benefits, and creating significant shareholder value over the coming years.'
Ostrom entered into an ERPA with a Fortune Global 500 global corporation for UPRIIS in the Philippines. This agreement includes an advance payment for carbon credits to fund project development costs, which helps reinforce Ostrom's ability to assess risks, mitigate them, and execute this high-integrity carbon project. The ERPA relates to the purchase of VERs, which are independently verified carbon credits representing the reduction of one metric tonne of carbon dioxide equivalent (tCO2e). The first payment under this ERPA has been received as a prepayment against future VERs and becomes repayable if the Company is unable to deliver the credits under the terms of the ERPA. Due to confidentiality agreements, further details cannot be disclosed at this time.
UPRIIS has the potential to span over 100,000 hectares in Central Luzon, and is expected to generate high-quality carbon credits over its planned 21-year term, with compliance potential under Article 6 of the Paris Agreement. Proceeds from carbon credit sales will directly benefit local partners, including the local irrigation authorities and rice farmers.
Liquidity and Outlook
Like many participants in the voluntary and compliance carbon sectors, Ostrom has been impacted by recent sector-wide market volatility. Nevertheless, the Company remains confident in the long-term fundamentals of carbon markets and continues to pursue financing and revenue opportunities aligned with high-integrity, compliance-driven projects.
The Company ended Q4 2024 with $550,710 in cash, compared to $516,613 at the end of Q3 2024 and $1,347,522 at year-end 2023. Ostrom Climate remains focused on addressing liquidity challenges through ongoing strategic financing efforts, including engagement with carbon stream investors, project development partners, and other potential long-term capital providers. The Company is also actively pursuing a diversified revenue model that combines carbon project ownership with technical services and advisory offerings.
A key priority continues to be securing long-term, recurring revenue from high-quality VER projects while rationalizing operational expenditures, reducing non-core costs, and aligning internal resources with high-margin activities to support a path toward profitability and positive cash flow.
Changes to the Board of Directors and Appointment of new Chief Financial Officer
Ostrom is pleased to announce the appointment of Trevor Scott as Chief Financial Officer, effective immediately. Trevor brings over two decades of valuable senior financial leadership and experience across public and private enterprises spanning the clean technology, mining, security services, and healthcare sectors. He most recently served as CFO of Aeon Luxe, where he led Nasdaq listing preparations, and previously as CFO of Akanda Corp, where he oversaw its successful IPO and governance functions. Trevor also held CFO and board roles at Sportcor Technologies, Stallion Security, Chrometco, and Uranium One Africa. He began his career as an audit manager and consultant with KPMG, servicing notable clients such as Royal Caribbean, BMW and Siemens. He later moved onto a senior finance consultant role with MTN Group. A Chartered Accountant by profession, Trevor is recognized for his expertise in IFRS, corporate governance, and driving financial discipline across growth-stage and complex multinational businesses operating in a public company and stock exchange listed environment.
Tejinder Virk, CEO of Ostrom, commented: 'Trevor's appointment comes at a critical inflection point for Ostrom. His track record of leadership in both capital markets and operational finance will help us navigate our next phase of growth with discipline and clarity. As we work to strengthen our financial platform and build a global, diversified pipeline of high-integrity carbon projects, Trevor's insights will be instrumental. I'm excited to welcome him to the team.'
Ostrom also announced that Colin Haddock will be stepping down from his role as Interim Chief Financial Officer and will join the Company's Board of Directors effective immediately, subject to applicable regulatory approval. Colin played a critical role in stabilizing Ostrom's financial reporting systems and strengthening internal controls during a pivotal phase of the Company's evolution.
Tejinder Virksaid: 'We are deeply grateful to Colin for his steady leadership and tireless work as Interim CFO during a transformative period for Ostrom. His hands-on approach, financial discipline, and strategic perspective have been instrumental in building the stronger foundation we have today. We are thrilled that Colin will continue to bring his insight and energy to Ostrom as a board member. Colin is also the Chief Financial Officer at RC Morris Capital, an investment advisory, wealth management, and capital markets firm. His deep understanding of the business and finance will be invaluable as we move into our next phase of growth, and his support will ensure a seamless transition to our newly appointed CFO. We look forward to working closely with him as we execute our strategy and scale the business globally.'
The Company also announces that the Company's Board has granted an aggregate of 7,000,000 incentive stock options to officers and directors at a per share price of $0.05 for a period of five years from the date of grant. The stock options are subject to vesting provisions as set by the Company's Board. The options are being granted in recognition of leadership appointments and to align management incentives with long-term shareholder value creation.
Shifting Canadian Political Landscape and Implications for Carbon Markets
British Columbia Election Outcome and Future Opportunities
In 2024, British Columbia implemented its Output-Based Pricing System (BC OBPS) on April 1, replacing the CleanBC Industrial Incentive Program. This new emissions pricing framework introduced significant changes for industrial emitters, requiring them to adjust to new compliance obligations. The timing of this implementation coincided with the provincial general election held on October 19, 2024, where the BC New Democratic Party (NDP) secured a majority government . The overlap of regulatory changes and political events led to uncertainty among market participants, potentially delaying carbon offset purchases as clients assessed their compliance strategies under the new BC OBPS regime.
'We observed a noticeable hesitation in carbon offset transactions during this period,' said Tejinder Virk, CEO of Ostrom Climate Solutions Inc. 'Clients were navigating the complexities of the newly implemented BC OBPS while also monitoring the outcomes of the provincial election. This confluence of factors contributed to a delay in purchase commitments, impacting our sales in fiscal year 2024. However, with greater regulatory clarity now in place, we expect tailwinds for our business in 2025 as industrial emitters increasingly turn to companies like Ostrom to source high-quality, BC OBPS-compliant credits from qualifying projects, including the likes of Great Bear and Quadra Island'
The Company is proud to highlight the Quadra Island Forestland Conservation Project as one of the few carbon offset projects currently available that is fully compliant with BC OBPS. Ostrom has held the exclusive carbon offset marketing and sales rights for this project since 2016. Protecting over 400 hectares of at-risk forestland that would otherwise have been logged or developed, the project was validated under the BC Forest Carbon Offset Protocol (BC FCOP) and independently verified by KPMG Performance Registrar Inc. As a rare OBPS-compliant offering, Quadra Island provides regulated emitters with a credible, cost-effective pathway to compliance while demonstrating the power of carbon markets to drive ecosystem conservation. To inquire about purchasing these offsets, please contact [email protected].
Canadian Federal Election Outcome and Future Opportunities
On April 28, 2025, Canada held a snap federal election, resulting in a victory for the Liberal Party under the leadership of Mark Carney. Carney has assumed the role of Prime Minister, bringing with him a strong background in finance and climate policy. His administration has signaled a commitment to strengthening Canada's position in global carbon markets, which may open new avenues for industrial carbon projects and compliance market participation.
'The election of Prime Minister Carney presents a promising horizon for Canada's carbon markets,' stated Tejinder Virk. 'With a leader who understands the intricacies of climate finance, we anticipate enhanced support for industrial carbon initiatives. Ostrom, as a market leader in carbon project development and offset trading in Canada, is well-positioned to significantly capitalize on these emerging opportunities.'
Strategic and Operational Outlook
Over the past year, both voluntary and compliance carbon markets have faced significant headwinds, including macroeconomic uncertainty, shifting regulatory landscapes, and evolving buyer preferences toward direct project origination. This broader market turbulence has temporarily pressured carbon credit pricing, transaction volumes, and capital allocation across the sector. Despite these challenges, Ostrom's strategic pivot toward owning and developing high-quality, compliance-aligned carbon projects positions the Company to navigate this volatility prudently while building scalable, long-term value.
Ostrom is intensifying its strategic focus on compliance carbon markets, which are till projected to fuel the growth of global carbon markets to approximately $2.7 trillion by 2028, up from $978 billion in 2022, according to a report by Investcorp. This growth is driven by increasing regulatory mandates and corporate commitments to net-zero targets, underscoring the critical role of compliance markets in global decarbonization efforts. In Canada, Ostrom is well-positioned to capitalize on the newly implemented BC OBPS, as well as emerging opportunities from evolving compliance markets at the federal level. The Company's deep expertise in carbon project development-underscored by its track record on high-integrity projects such as those in Great Bear and Quadra Island-and its established operational presence in British Columbia uniquely position Ostrom to support regulated entities in meeting their compliance obligations through credible, verifiable carbon credits.
As a subset of global carbon markets, the global Carbon Dioxide Removal (CDR) market is projected to experience substantial growth, potentially reaching up to $100 billion annually between 2030 and 2035, according to Oliver Wyman. This anticipated expansion is driven by increasing corporate commitments to net-zero targets and the urgent need for effective carbon removal solutions. In alignment with these market dynamics, the Company is prioritizing the development of high-integrity carbon removal projects, initially focusing on forest carbon initiatives and expanding into complementary nature-based solutions such as biochar. These initiatives are designed to complement Ostrom's existing voluntary carbon market offerings and strengthen its presence in emerging global compliance markets.
The Company's trading and technical consulting businesses are subject to natural cyclical fluctuations, influenced by broader carbon market dynamics and regulatory developments. Ostrom's strategic pivot toward project ownership and compliance market engagement is intended to reduce earnings volatility over time while preserving the flexibility to capitalize on market rebounds through its advisory platforms. Management believes that by building a core portfolio of owned projects, Ostrom will be able to dampen the historical earnings volatility linked to advisory activities and voluntary carbon credit trading cycles.
To support these initiatives, Ostrom is also actively engaging with strategic financing partners to secure long-term revenue streams and accelerate project deployment across key geographies. A key milestone in this strategy was the recent execution of the ERPA with a Fortune Global 500 buyer for Ostrom's flagship UPRIIS rice methane reduction project in the Philippines. This landmark agreement not only validates the scalability and integrity of Ostrom's methodology but also signals growing institutional appetite for high-quality, nature-based carbon removals. By aligning its operational focus with the evolving demands of both voluntary and compliance carbon markets, Ostrom aims to deliver scalable impact at a global level and contribute meaningfully to long-term decarbonization and carbon neutrality goals.
Settlement of Company Debts
The Company also announces that, subject to acceptance by the TSX Venture Exchange and with the intent of preserving its cash resources for operations, it proposes issuing common shares at a deemed per share price of $0.035 in settlement of an aggregate of $117,500 in accrued debt as evidenced in its annual financial statements, owing to Farm Lane Holdings Limited, a company controlled by Tejinder Virk, and $20,000 to RCM Financial Services Inc., a company controlled by Christopher Morris, a director of the Company (collectively the 'Debt Settlors').
The debt owing to the Debt Settlors relates to consideration payable under the terms of amended and restated consulting agreements entered into between the Company and each of the Debt Settlors.
Shares proposed to be issued by the Company in settlement of the debt will be issued at a deemed per share price of $0.035 in accordance with the policies of the TSX Venture Exchange and will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable securities legislation.
The proposed issuance of shares by the Company to the Debt Settlors constitutes a related party transaction pursuant to the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ('MI 61-101"). The Company will avail itself of exemptions contained in section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101, in that the fair market value of the consideration for the transaction, insofar as it involves interested parties, does not exceed 25 per cent of the Company's market capitalization.
About Ostrom Climate Solutions Inc.
Ostrom is one of North America's leading providers of carbon project development and management services, climate solutions, and carbon credit marketing. Over the past 12 years, Ostrom has validated and verified forest carbon projects globally for voluntary and regulated markets, having developed 16 million acres of forest land for conservation and monetized over 10 million carbon credits. Based out of Vancouver, B.C., Canada, the Ostrom team has a global reach, has worked with over 200 organizations globally, including Fortune 500 companies, managed projects in partnership with indigenous stakeholders and has extensive on-ground experience in emerging markets.
Ostrom is focused on developing high-quality carbon projects that have a positive impact on the environment, local communities and biodiversity. Ostrom is publicly listed on the TSX Venture Exchange (COO) and the Frankfurt Stock Exchange (9EAA).
Please visit us at www.ostromclimate.com.
To receive corporate updates via e-mail, please subscribe here.
For more information regarding the Company, please contact:
Tejinder Virk
Chief Executive Officer
Ostrom Climate Solutions Inc.
322 Water St #400, Vancouver, BC V6B 1B6, Canada
Email: [email protected]
Neither 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.
Cautionary Statement Regarding Forward Looking Statements
This news release contains certain statements that may be deemed '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. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, 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.
SOURCE: Ostrom Climate Solutions Inc.
press release
Hashtags

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

Associated Press
24 minutes ago
- Associated Press
SonicStrategy Expands Sonic Holdings to 6M Tokens and Launches Institutional Validator
TORONTO, ON / ACCESS Newswire / June 12, 2025 / Spetz Inc. (dba SonicStrategy) (CSE:SPTZ)(OTC:DBKSF) is pleased to report continued progress in its digital asset accumulation and infrastructure rollout strategy. During the past week, the Company acquired an additional ∼2.0 million S tokens (the native token of the Sonic ecosystem), bringing its total Sonic holdings to just over 6 million tokens. These tokens were purchased on the open market, reinforcing the Company's strong conviction in Sonic as one of the most compelling Layer 1 ecosystems in blockchain today. In parallel, the Company has also purchased 3.7 BTC to be held as part of the long term corporate treasury strategy. The approximate total cost of these acquisitions was $1.5 million CAD. 'We continue to see compelling long-term value in Sonic and are building a strategic position to match that conviction,' said Mitchell Demeter, CEO and Director of Spetz. 'Accumulating over 6 million tokens at this early stage gives us a powerful foundation as the network scales. We are fully focused on building SonicStrategy into a leading institutional platform for validator operations, token accumulation, and DeFi participation.' SonicStrategy is also pleased to announce the official launch of its first institutional-grade validator on the Sonic blockchain. The validator is now publicly listed as Validator #45 - 'SonicStrategy | CSE: SPTZ | OTC: DBKSF' and can be viewed here. Validators are essential infrastructure on proof-of-stake blockchains like Sonic. They help process transactions, secure the network, and maintain consensus by verifying new blocks of data. In return, validators earn yield (rewards), making them a foundational piece of blockchain scalability and integrity. 'Launching our validator infrastructure is a significant milestone,' added Demeter. 'Not only does it generate stable yield on our own assets, but it also opens the door to scalable recurring revenue as we onboard other Sonic token holders to our validator.' The Company has staked a portion of its own tokens to the validator and is currently earning a 4.62% yield on this staked capital. In addition, SonicStrategy will be collaborating with other large ecosystem partners to grow the total delegation base to its validator, where the Company will earn 15% of the yield generated by third-party delegations. The Company also plans to begin deploying capital into DeFi strategies within the Sonic ecosystem in the coming days, which is expected to increase the blended yield across its digital asset portfolio to approximately 20%. The Company is working toward closing the second tranche of its $10 million financing, targeting a close date of June 18, 2025. The round is being conducted at a price of $0.50 per unit, with each unit consisting of one common share and one-half of a common share purchase warrant exercisable at $0.75. About Spetz Inc. (dba SonicStrategy) Spetz Inc. (dba SonicStrategy) (CSE:SPTZ)(OTC PINK:DBKSF) is the parent company of SonicStrategy Inc., a public-market gateway to the Sonic blockchain ecosystem. Spetz provides investors with compliant exposure to staking infrastructure and DeFi strategies across the Sonic network. Company Contacts: Investor Relations Email: [email protected] Mitchell Demeter Email: [email protected] NEITHER THE CANADIAN SECURITIES EXCHANGE, NOR THEIR REGULATION SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. Cautionary Note Regarding Forward-looking Statements Certain information herein constitutes 'forward-looking information' under Canadian securities laws, reflecting management's expectations regarding objectives, plans, strategies, future growth, results of operations, and business prospects of the Company. Words such as 'may', 'plans,' 'expects,' 'intends,' 'anticipates,' 'believes,' and similar expressions identify forward-looking statements, which are qualified by the inherent risks and uncertainties surrounding future expectations. Forward-looking statements are based on a number of estimates and assumptions that, while considered reasonable by management, are subject to business, economic, and competitive uncertainties and contingencies. The Company cautions readers not to place undue reliance on these statements, as forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from projected outcomes. Factors influencing these outcomes include economic conditions, regulatory developments, competition, capital availability, and business execution risks. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur. The forward-looking information contained in this press release represents Spetz's expectations as of the date of this release and is subject to change. Spetz does not undertake any obligation to update forward-looking statements, except as required by law. This press release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction. None of the securities issued in the Private Placement will be registered under the United States Securities Act of 1933, as amended (the '1933 Act'), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. We seek Safe Harbor. SOURCE: Spetz Inc press release
Yahoo
an hour ago
- Yahoo
Boralex Appoints Robin Deveaux as Executive Vice President and General Manager, North America
Robin Deveaux Hugues Girardin MONTREAL, June 12, 2025 (GLOBE NEWSWIRE) -- Boralex inc. ('Boralex' or the 'Company') (TSX: BLX) is pleased to announce the appointment of Robin Deveaux as Executive Vice President and General Manager, North America. He succeeds Hugues Girardin, who will retire on December 31, 2025. Until then, M. Girardin will act as Transition Advisor to senior management to ensure a smooth and effective handover of responsibilities. A seasoned finance professional, Robin Deveaux brings over 20 years of experience in the renewable energy and professional services sectors. He is being promoted to Executive Vice President and General Manager after having served as Vice President, Finance, and subsequently as Senior Vice President, Finance and Asset Management for North America at Boralex. Since joining Boralex, Robin has stood out for his inclusive leadership, strategic thinking, and ability to drive projects forward in a fast-evolving environment. These qualities will remain key in his new role, as the Company prepares to unveil its 2030 Strategy. 'I am honoured by the trust placed in me, and I approach this new challenge with a great deal of humility. I have deep respect for Hugues's accomplishments and for the expertise of our teams. Together, we will continue to drive our mission forward — with ambition, discipline, and a strong commitment to collaboration, proximity with the community, and excellence in project execution.,' said Robin Deveaux. See Robin Deveaux's full biography Following an outstanding 34-year career, Hugues Girardin leaves behind a strong and inspiring legacy. A key player in Boralex's growth, he played a major role in developing, building, and promoting the Company's assets. He was consistently driven by a commitment to strengthen community engagement, create lasting value for investors and stakeholders, and unite teams around a common vision. 'It has been a great source of pride to support Boralex's growth over the years and to contribute, in my role, to the development of increasingly innovative renewable energy projects that bring lasting benefits to the regions that host them. I'm pleased to pass the baton to Robin, whose leadership and vision are closely aligned with the Company's ambitions,' said Hugues Girardin. 'I want to sincerely thank Hugues for his unwavering dedication and outstanding contributions to our collective success. I also congratulate Robin on his appointment — his passion for our mission, combined with his expertise, will be tremendous assets for Boralex's future,' concluded Patrick Decostre, President and Chief Executive Officer of Boralex. About Boralex At Boralex, we have been providing affordable renewable energy accessible to everyone for over 30 years. As a leader in the Canadian market and France's largest independent producer of onshore wind power, we also have facilities in the United States and development projects in the United Kingdom. Over the past five years, our installed capacity has increased by more than 50% to 3.2 GW. We are developing a portfolio of projects in development and construction of more than 8 GW in wind, solar and storage projects, guided by our values and our corporate social responsibility (CSR) approach. Through profitable and sustainable growth, Boralex is actively participating in the fight against global warming. Thanks to our fearlessness, discipline, expertise and diversity, we continue to be an industry leader. Boralex's shares are listed on the Toronto Stock Exchange under the ticker symbol BLX. For more information, visit or Follow us on Facebook and LinkedIn. For more information MEDIA Camille LaventureSenior Advisor, Public Affairs and External CommunicationsBoralex inc.438 Photos accompanying this announcement are available at: Source: Boralex inc. 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
Yahoo
an hour ago
- Yahoo
Nine Mile Metals Receives NBJMAP Exploration Grant for California Lake East VMS Project
Toronto, Ontario--(Newsfile Corp. - June 12, 2025) - NINE MILE METALS LTD. (CSE: NINE) (OTC Pink: VMSXF) (FSE: KQ9) (the "Company" or "Nine Mile") is pleased to announce it has received a $ 40,000 grant from the New Brunswick Department of Natural Resources and Energy Development for continued exploration on the Company's California Lake East VMS Project. In April 2025, the Company submitted a proposal to the Department of Natural Resources and Energy Development Junior Mining Assistance Program (NBJMAP) for specific exploration on the California Lake East VMS Project, where previous drilling in 2022 confirmed the presence of a VMS system associated with Mineral occurrence 32S, on the north end of EarthEx Target #8 (Figure 1 below). This season's exploration is planned along the stratigraphic horizon and EM strong late time conductors, delineated by EarthEx, that defines the California Lake East VMS Trend (Target #6 and #8). Planned work will start with ground-based geophysics to define the prioritized drill targets to follow. Target #6 below, has been previously identified as a High Priority New Target and possibly the source to the previously announced successful VMS drill program at Target #8. Figure 1: California Lake East VMS Trend To view an enhanced version of this graphic, please visit: The NB government continues to be highly supportive and committed to the success of the mining community in the Bathurst Mining Camp. Each year the Junior Mining Assistance Program provides funding for the advancement of Selected Projects that meet their criteria of high interest to the advancement of the Camp. We are pleased to receive support again this year, from the Geological Survey Branch in Bathurst and advance our exploration Program at California Lake is on the heels of last year's significant grant received to advance the Wedge VMS Project. Utilizing the data collected and interpreted by EarthEx, the technical team, with the assistance of Apex Geoscience, will design an appropriate ground-based survey method to best define the conductive trend extending from Target 6 to Target 8. Apex, with previous experience in the Bathurst Mining Camp, will be integral in planning, the ground-based options including both fixed and moving loop Electromagnetics. The decision will follow a thorough compilation of all historic drill holes and the more recent results obtained by Nine Mile. "The team is looking forward to continuing our development of the California Lake East VMS Trend and test Target #6, the potential source of the Trend. We will track the trend mineralization from our drill program area at Target #8, expanding the VMS mineralization to the south, along the strong conductive trend, that leads to High Priority Target #6. Target #6 is a untested newly identified high priority target. Our technical team looks forward to commencing this project of high importance for Nine Mile Metals. We are grateful for the continued support from our NB Department of Natural Resources and our local mining community. Once again, we are honoured to receive this support," stated G. Lohman, V.P. Exploration. About Nine Mile Metals Ltd.: Nine Mile Metals Ltd. is a Canadian public mineral exploration Company focused on Critical Minerals VMS (Cu, Pb, Zn, Ag and Au) exploration in the renowned Bathurst Mining Camp (BMC), located in New Brunswick, Canada. The Company's primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East - West) VMS Project, and the Wedge VMS Project. The Company is focused on Critical Minerals Exploration, positioning itself for the boom in EV and green technologies requiring Copper, Silver, Lead and Zinc with a hedge on Gold. ON BEHALF OF NINE MILE METALS LTD. "Patrick J. Cruickshank, MBA"CEO and Director T: (506) 804-6117E: info@ Jonathan Holmes, DirectorT: (506) 800-0581E: jonathan@ Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Nine Mile. Forward-looking information is based on certain key expectations and assumptions made by the management of Nine Mile. In some cases, you can identify forward-looking statements by the use of words such as "will," "may," "would," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," "continue," "likely," "could" and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements in this press release include that its primary business objective is to explore its four VMS Projects: Nine Mile Brook VMS Project, California Lake VMS Project, the Canoe Landing Lake (East – West) VMS Project, and the Wedge VMS Project. Although Nine Mile believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Nine Mile can give no assurance that they will prove to be correct. The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release. To view the source version of this press release, please visit 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