A smart energy strategy that reinvests in growth while rewarding shareholders
From multilateral drilling success to firm gas sales contracts, this company is proving that smart energy investing isn't just a tagline, it's a playbook.
We caught up with Corey Ruttan, President and CEO of Alvopetro, to talk growth, gas, and how this company is staying profitable while scaling up.
The following is a transcription of the above video, and The Market Online has edited it for clarity
Lyndsay: Let's jump right in here if we can. I mean, with firm gas sales in Brazil up 41% in Q1 and long-term contracts locked in, how much running room remains in your current Brazilian infrastructure before capacity becomes a constraint?
Corey: Obviously we had a really nice increase in our Q1 sales volumes and our goal this year through our drilling program is to increase that production again by at least another 25%. And our strategic infrastructure that we've built is already equipped to accommodate that additional capacity.
Lyndsay: So then your 183-D4 well that encountered 61 meters of gas pay in Murucututu. How does this shift your view of the field's total productive potential and your near term development plans in Brazil?
Corey: That well was a follow up to our very successful well that we drilled last year, 183-A3. We brought that on production in the second half of last year. And as expected the 183-D4 well like you said, encountered the same caruacu sands but structurally up dip by over a hundred meters. So, we're very excited about that well, we're just starting the completion now and we would expect to have the well on production by the end of August. And then following up on that, we've got several additional follow up locations that we can drill from existing well pads that are already pipeline connected to our strategic infrastructure. So, I really think we're uniquely positioned to quickly convert the successes into production and cash flow.
Lyndsay: You've got high margin contracted natural gas sales in Brazil and a strong fiscal regime. What's the biggest competitive advantage you're leveraging in that market that investors might be overlooking then?
Corey: I think we're really fortunate to be operating in a very good environment that combines an excellent level of geological prospectivity with an attractive fiscal regime. Our realized natural gas prices are about US $11 per MCF. So, to put that in perspective, that's about three times what the US natural gas prices are and it's over 10 times what Canadian companies are realizing right now.
So, combine that with an effective royalty rate of about 6% and consider that we've got very low cost natural gas production. What it leads to is an industry leading operating net back margin that approaches about 90%. So on top of that, our project is eligible for a 15% income tax rate. So, this is about as good as it gets in our industry. And then like any business, if you have the highest margins, your business is stronger and more resilient.
That's really our advantage. What it allows us to do is generate more cash flow off the same amount of production relative to our peers and then that helps drive our capital allocation model that you mentioned earlier where we're looking to balance returns to stakeholders and organic growth. So, and then the other part of the equation is really the strategic infrastructure that we've invested in helps support that growth plan and we feel like we're really well positioned both in Brazil and now also in Canada to implement our growth objectives.
Lyndsay: I want to push that just a little bit further if we can and really uncover a lot more of that model that you've built around reinvesting roughly half of your cash flows into organic growth. I mean, how much of that capital is currently weighted towards advancing your Brazilian drilling profile versus scaling newer Canadian assets?
Corey: To put it in perspective, we added the Canadian growth platform on I think February 5th of this year. And I'm excited to say we've already drilled our first two wells. They were both on production by early April. So, it really shows how quickly you can move. We've just completed drilling the third well and the fourth well is going to be finished shortly. So, since February we've been investing in both opportunities in parallel, but from a capital expenditure perspective, we're probably still about three quarters of our capital is probably going to our Brazilian assets right now.
Lyndsay: So, then the remaining cash is returned to stakeholders. So, can you give us some details and tell us what investors can expect in terms of yield?
Corey: With the increase in production that we saw in the first quarter, we did increase our dividend by 11% up to US 10 cents per share quarterly. And we did just finish paying that for the second quarter here as well. So, at our current share price, that translates into a yield of over 9%. And as we mentioned earlier, our strategy is obviously to continue to grow our business and with continued success, my expectation is that we can continue to grow the dividend commensurate with that success.
Lyndsay: Corey, between price stability, infrastructure control and upside in untapped zones, what are the key catalysts right now in Brazil that investors should be watching for through the remainder of 2025?
Corey: I think it's Brazil and Canada quite frankly and I think it's really a continuation of what we've already been showing to start this year off. As mentioned, our latest well the 183-D4 well is expected to be completed and on production here in August. So, I think investors can look forward to those results and then the results from the additional follow up wells that would come after that in Canada. I think, you know, the results from the first two wells are extremely exciting.
They're well ahead of the expectations that we had set for ourselves when we entered into that opportunity and I hope investors can look forward to more of the same in that business, which is really off to a fantastic start.
You can find Alvopetro Energy on the Venture under the symbol V.ALV and you can learn more at their website alvopetro.com.
Join the discussion: Find out what everybody's saying about this stock on the Alvopetro Energy investor discussion forum, and check out the rest of Stockhouse's stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
26 minutes ago
- Cision Canada
CPP Investments Commits to $225 Million in Construction Financing for Ontario Data Centre
TORONTO, /CNW/ - Canada Pension Plan Investment Board (CPP Investments) today announced that it is providing funding to construct a 54 MW hyperscale expansion to a data centre in Cambridge, Ontario. CPP Investments will invest C$225 million in the project by way of a 50% interest in a construction loan, alongside Deutsche Bank Private Credit & Infrastructure, which served as the lead lender on this transaction and funded the remaining 50% of the loan. The data centre is being developed as a joint venture between Related Digital, a global, vertically integrated data centre development and investment platform, TowerBrook Capital Partners, an international investment management firm, and Ascent, a leader in planning, developing and operating data centres. The demand for hyperscale data centres in Toronto and the surrounding region is strong and the project has been pre-leased to a market-leading GPU-focused AI cloud compute provider on a long-term basis. "The rapid expansion of digital infrastructure—driven by accelerating demand for cloud services, data storage, and the transformative potential of artificial intelligence—is fueling strong growth in data centre development," said Geoffrey Souter, Head of Real Assets Credit. "CPP Investments has deep expertise in this sector and an investment in the construction financing of this project marks another milestone in advancing our global data centre strategy and strengthens our presence in the Canadian market." CPP Investments currently has data centre joint ventures and investments in key hubs globally, including North and South America, Asia Pacific, including Australia, and Europe, in addition to investments in publicly held companies that operate data centres in Canada and around the world. About CPP Investments Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Canada Pension Plan Fund in the best interests of the more than 22 million contributors and beneficiaries. In order to build diversified portfolios of assets, we make investments around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At March 31, 2025, the Fund totalled C$714.4 billion. For more information, please visit or follow us on LinkedIn, Instagram or on X @CPPInvestments. About Related Digital Founded by Related Companies, one of the most prominent, privately-owned real estate development firms in the United States, Related Digital is a vertically integrated data center development and investment platform. Related Digital combines Related Companies' 50-year+ track record of innovation and executing complex real estate and infrastructure projects with its expertise in real estate investing and developing large-scale clean energy solutions through its affiliated transmission line development and renewable energy business, energyRe. About TowerBrook Capital Partners TowerBrook champions founders, entrepreneurs and management teams as they grow and transform their companies, helping them become long-lasting leaders in their industries. Informed by deep industry expertise, it develops theses and then targets and invests with intentionality to build portfolios that deliver meaningful customer and shareholder value, and have a positive impact on society. TowerBrook invests through private equity, structured opportunities, growth & impact, and strategic partnerships, offering flexibility across the capital structure, and has over $23 billion of assets under management. It takes an entrepreneurial, multinational, single-team approach and since inception in 2001, has invested in more than 100 companies on both sides of the Atlantic. TowerBrook is the first mainstream private equity firm to be certified as a B Corporation, demonstrating leadership in commitment to responsible business practices.
Cision Canada
26 minutes ago
- Cision Canada
STAMPEDE DRILLING INC. ANNOUNCES 2025 SECOND QUARTER RESULTS
CALGARY, AB, July 31, 2025 /CNW/ - Stampede Drilling Inc. ("Stampede" or the "Corporation") (TSXV: SDI) announces today its consolidated financial and operational results for the three and six month periods ended June 30, 2025. The following press release should be read in conjunction with the December 31, 2024 audited consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS) applicable to the preparation of interim financial statements, under International Accounting Standard 34, Interim Financial Reporting (together, "IFRS Accounting Standards"), and the annual information form ("AIF") for the year ended December 31, 2024, as well as the unaudited condensed consolidated interim financial statements and notes for the three and six month periods ended June 30, 2025 and 2024 and management's discussion and analysis thereon. Additional information regarding Stampede, including the AIF, is available on SEDAR+ at All amounts or dollar figures are denominated in thousands of Canadian dollars except for number of drilling rigs, operating days, or unless otherwise noted. All share amounts are presented to the nearest thousand. Estimates and forward-looking information are based on assumptions of future events and actual results may vary from these estimates. See "Forward-Looking Information" in this press release for additional details. SECOND QUARTER 2025 OPERATIONAL HIGHLIGHTS Revenue of $6,009 – a decrease of $3,909 (39%) from $9,918 in the corresponding 2024 period. The decrease was primarily due to the decreased number of operating days. Gross Margin (1) of 16% – a decrease of 14% from 30% in the corresponding 2024 period. The decrease was primarily due to the reduction in operating days and revenue, along with an increase in repair and maintenance costs per day. Net Loss of $2,996 – a decrease of $748 (33%) from $2,248 in the corresponding 2024 period. The decrease was primarily due to an increase in depreciation offset by a recovery on deferred income tax expense compared to the corresponding period of 2024. Adjusted EBITDA (1) of ($609) – a decrease of $1,543 (165%) from $934 in the corresponding 2024 period. The decrease was primarily due to customer drilling program deferrals and operator consolidation, which resulted in a reduction in operating days and operating margin. Free Cash Flow (1) of ($2,301) – a decrease of $(1,460) (174%) from ($841) in the corresponding 2024 period, primarily due to a decrease in funds from operating activities compared to the corresponding 2024 period. Repurchase of 3,125 common shares – In the second quarter of 2025, the Corporation repurchased and cancelled 3,125 common shares under its normal course issuer bid ("NCIB"), representing 13.4% of its issued and outstanding common shares as at June 30, 2025, at a weighted average price per common share of $0.14, for total consideration of $438. The Corporation's NCIB expired on June 2, 2025. OUTLOOK Commodity pricing continued to be volatile throughout the second quarter of 2025. Ongoing geopolitical challenges affecting global energy supply and demand are expected to continue to impact commodity pricing, which we anticipate continuing for the back half of 2025 and into 2026. However, increased tidewater access for Canadian producers from the startup of the Trans Mountain pipeline expansion during 2024 and LNG Canada commencing operations in 2025 are anticipated to help alleviate some of these pressures. Despite the continued pressure on our customers 2025 capital budgets due to the continued commodity pricing volatility, Stampede had 14 out of its 17 marketable rigs operational during the first half of 2025. Stampede anticipates building on this positive momentum into the back half of 2025. On July 21, 2025, with the support of its banking syndicate, Stampede extended the term of its Credit Agreement (as defined herein) from September 20, 2026, to September 20, 2028. Under the Credit Agreement, the total $50 million facility remains unchanged consisting of a $20 million non-revolving term loan and two separate $15 million revolving credit facilities. The extension of the Credit Facilities (as defined herein) will allow Stampede to continue to pursue further growth opportunities and potential returns to our shareholders. (1) – Refer to "Non-GAAP and Other Financial Measures" for further information. FINANCIAL SUMMARY Three months ended, June 30 Six months ended, June 30 (000's CAD $ except per share amounts) 2025 2024 % Change 2025 2024 % Change Revenue 6,009 9,918 (39 %) 29,416 37,417 (21 %) Direct operating expenses 5,049 6,980 (28 %) 20,588 24,566 (16 %) Gross margin (1) 960 2,938 (67 %) 8,828 12,851 (31 %) Net (loss) income (2,996) (2,248) 33 % (1,559) 2,691 (158 %) Basic and diluted (loss) income per share (0.01) (0.01) nm (0.01) 0.01 nm Adjusted EBITDA (loss) (1) (609) 934 (165 %) 4,506 8,596 (48 %) Funds (used in) from operating activities (728) 905 (180 %) 4,373 8,516 (49 %) Free cash flow (1) (2,301) (841) nm 1,589 4,307 (63 %) Weighted average common shares outstanding (000's) 199,942 213,557 (6 %) 201,992 212,417 (5 %) Weighted average diluted common shares outstanding (000's) 199,942 213,557 (6 %) 201,992 212,728 (5 %) Capital expenditures 4,439 3,632 22 % 9,231 9,812 (6 %) Number of marketed rigs 17 19 (11 %) 17 19 (11 %) Drilling rig utilization (2) 15 % 20 % (5 %) 34 % 38 % (4 %) CAOEC industry average utilization (3) 30 % 30 % nm 42 % 40 % 2 % nm - not meaningful (1) Refer to "Non-GAAP and Other Financial Measures" for further information. (2) Drilling rig utilization is calculated based on operating days (spud to rig release). (3) Source: The Canadian Association of Energy Contractors ("CAOEC") monthly Contractor Summary. The CAOEC industry average is based on operating days divided by total available drilling days. DESCRIPTION OF STAMPEDE'S BUSINESS Stampede is an energy services company that provides premier contract drilling services in Western Canada. Stampede operates a fleet of 17 marketable telescopic double drilling rigs suited for most formations within the Western Canadian Sedimentary Basin ("WCSB"). The Corporation's head office is located in Calgary, Alberta with operations based out of Nisku, Alberta and Estevan, Saskatchewan. The Corporation's common shares trade on the TSX Venture Exchange (the "TSXV") under the symbol "SDI". RECENT DEVELOPMENTS On July 21, 2025, the Corporation entered into an amending agreement (the "First Amending Agreement") to its amended and restated credit agreement with Royal Bank of Canada and The Toronto-Dominion Bank originally made as of September 20, 2023 and amended and restated as of August 21, 2024 (as amended by the First Amending Agreement, the "Credit Agreement"), extending the term and limits of the Credit Agreement from September 20, 2026 to September 20, 2028. Under the Credit Agreement, the Corporation has an available limit of $20 million under a non-revolving term loan (the "Term Loan Facility"), $15 million under a revolving credit facility (the "Syndicated Facility") and $15 million under an additional revolving credit facility (the "Operating Facility", and collectively with the Term Loan Facility and the Syndicated Facility, the "Credit Facilities"). RESULTS FROM OPERATIONS FOR THE SIX MONTH PERIOD ENDED JUNE 30, 2025 (1) Refer to "Non-GAAP and Other Financial Measures" for further information. (2) Defined as contract drilling days, between spud to rig release. (3) Drilling rig revenue per day is calculated by revenue divided by drilling rig operating days. (4) Drilling rig utilization is calculated based on operating days (spud to rig release). (5) Source: The Canadian Association of Energy Contractors ("CAOEC") monthly Contractor Summary. The CAOEC industry average is based on Operating Days divided by total available drilling days. Revenue of $29,416 – a decrease of $8,001 (21%) from $37,417 in the corresponding 2024 period. The decrease was primarily driven by a 21% decrease in operating days compared to the corresponding period of 2024. Operating days of 1,031 – a decrease of 268 operating days (21%) from 1,299 operating days in the corresponding 2024 period. Operating days decreased due to customer consolidation and drilling program deferrals in the first half of 2025, resulting in lower drilling rig utilization compared to the corresponding period of 2024. Gross margin percentage of 30% – a decrease of 4% from 34% in the corresponding 2024 period. The gross margin decrease was primarily due to the reduction in operating days and revenue, along with an increase in repair and maintenance costs per day. Net loss of $1,559 – a decrease of $4,250 (158%) from $2,691 in the corresponding 2024 period. The decrease was primarily related to decreased Adjusted EBITDA, along with increased depreciation costs. General and administrative expenses of $5,035 – a decrease of $121 (2%) from $5,156 in the corresponding 2024 period. The decrease was primarily related to the decrease in share-based payments in the first half of 2025. Adjusted EBITDA of $4,506 – a decrease of $4,090 (48%) from $8,596 in the corresponding 2024 period. The decrease was primarily due to customer drilling program deferrals and operator consolidation resulting in a reduction in operating days and operating margin. RESULTS FROM OPERATIONS FOR THE THREE MONTH PERIOD ENDED JUNE 30, 2025 (1) Refer to "Non-GAAP and Other Financial Measures" for further information. (2) Defined as contract drilling days, between spud to rig release. (3) Drilling rig revenue per day is calculated by revenue divided by drilling rig operating days. (4) Drilling rig utilization is calculated based on operating days (spud to rig release). (5) Source: The Canadian Association of Energy Contractors ("CAOEC") monthly Contractor Summary. The CAOEC industry average is based on Operating Days divided by total available drilling days. Revenue of $6,009 – a decrease of $3,909 (39%) from $9,918 in the corresponding 2024 period. The decrease was primarily driven by a 34% decrease in operating days compared to the corresponding period of 2024. Operating days of 226 – a decrease of 117 operating days (34%) from 343 operating days in the corresponding 2024 period. Operating days decreased due to customer consolidation and drilling program deferrals in the second quarter of 2025, resulting in lower drilling rig utilization compared to the corresponding period of 2024. Gross margin percentage of 16% – a decrease of 14% from 30% in the corresponding 2024 period. The gross margin decrease was primarily due to the reduction in operating days and revenue, along with an increase in repair and maintenance costs per day. Net loss of $2,996 – a decrease of $748 (33%) from ($2,248) in the corresponding 2024 period. The decrease was primarily due to an increase in depreciation offset by a recovery on deferred income tax expense. General and administrative expenses of $1,918 – a decrease of $712 (27%) from $2,630 in the corresponding 2024 period. The decrease was primarily related to the decrease in share based compensation, worker compensation insurance and credit loss allowance in the second quarter of 2025. Adjusted EBITDA of ($609) – a decrease of $1,543 (165%) from $934 in the corresponding 2024 period. The decrease was primarily due to customer drilling program deferrals and operator consolidation resulting in a reduction in operating days and operating margin. NON-GAAP AND OTHER FINANCIAL MEASURES This press release contains references to (i) adjusted EBITDA, (ii) gross margin (iii) gross margin percentage, and (iv) free cash flow. These financial measures are not measures that have any standardized meaning prescribed by IFRS Accounting Standards and are therefore referred to as non-generally accepted accounting principles ("non-GAAP") measures. The non-GAAP measures used by the Corporation may not be comparable to similar measures used by other companies. (i) Adjusted EBITDA - is defined as "income from operations before interest income, interest expense, taxes, transaction costs, depreciation and amortization, share-based compensation expense, gains on asset disposals, impairment expenses, other income, foreign exchange, non-recurring restructuring charges, finance costs, accretion of debentures and other income/expenses, foreign exchange gain and any other items that the Corporation considers appropriate to adjust given the irregular nature and relevance to comparable operations." Management believes that in addition to net income, adjusted EBITDA is a useful supplemental measure as it provides an indication of the results generated by the Corporation's principal business activities prior to consideration of how these activities are financed, how assets are depreciated, amortized and impaired, the impact of foreign exchange, or how the results are affected by the accounting standards associated with the Corporation's stock-based compensation plan. Investors should be cautioned, however, that adjusted EBITDA should not be construed as an alternative to net income and comprehensive income determined in accordance with IFRS Accounting Standards as an indicator of the Corporation's performance. The Corporation's method of calculating adjusted EBITDA may differ from that of other organizations and, accordingly, its adjusted EBITDA may not be comparable to that of other companies. (ii) Gross margin - is defined as "Income from operations before depreciation of property and equipment". Gross margin is a measure that provides shareholders and potential investors additional information regarding the Corporation's cash generating and operating performance. Management utilizes this measure to assess the Corporation's operating performance. Investors should be cautioned, however, that gross margin should not be construed as an alternative to net income (loss) determined in accordance with IFRS Accounting Standards as an indicator of the Corporation's performance. The Corporation's method of calculating gross margin may differ from that of other organizations and, accordingly, its gross margin may not be comparable to that of other companies (iii) Gross margin percentage - is calculated as gross margin divided by revenue. The Corporation believes gross margin as a percentage of revenue is an important measure to determine how the Corporation is managing its revenues and corresponding cost of sales. The Corporation's method of calculating gross margin percentage may differ from that of other organizations and, accordingly, its gross margin percentage may not be comparable to that of other companies. The following table reconciles the Corporation's income from operations, being the most directly comparable financial measure disclosed in the Corporation's interim financial statements, to gross margin and gross margin percentage: (iv) Free cash flow - is calculated based on funds from operating activities less maintenance and sustaining capital, and interest and principal debt repayments. The Corporation uses this measure to assess the discretionary cash that management has to invest in growth capital, asset acquisitions, or return capital to shareholders. The Corporation's method of calculating free cash flow may differ from that of other organizations and, accordingly, its free cash flow may not be comparable to that of other companies. The following table reconciles the Corporation's funds from operating activities to free cash flow. FORWARD-LOOKING INFORMATION Certain statements contained in this press release constitute forward-looking statements or forward-looking information (collectively, "forward-looking information"). Forward-looking information relates to future events or the Corporation's future performance. All information other than statements of historical fact is forward-looking information. The use of any of the words "anticipate", "plan", "contemplate", "continue", "estimate", "expect", "intend", "propose", "might", "may", "will", "could", "should", "believe", "predict", and "forecast" are intended to identify forward-looking information. This press release contains forward-looking information pertaining to, among other things: the Corporation's performance; expectations associated with the Corporation's outlook, including among other things, anticipated commodity prices and the volatility thereof and potential mitigating factors, including the Trans Mountain pipeline expansion and LNG Canada commencing operations; expectations about industry activities and the impacts thereof on the Corporation; market conditions and corresponding rig utilization; the ability of the Corporation to pursue growth opportunities and potential returns to its shareholders; future projects and the anticipated benefits thereof to the Corporation; and factors impacting global energy supply. Forward-looking information is based on certain assumptions that Stampede has made in respect thereof as at the date of this press release regarding, among other things: the Corporation's ability to fully crew and contract its rigs; the success of the measures implemented by the Corporation to ensure the safe, efficient and reliable operations at each of its drilling sites; the effectiveness of the Corporation's financial risk management policies at ensuring all payables are paid within the pre-agreed credit terms; that the Corporation has adequate access to its credit facilities to provide the necessary liquidity needed to manage fluctuations in the timing of receipt and/or disbursement of operating cash flows; expectations regarding Stampede's share price; the impact of inflation, weather conditions, and expectations regarding the duration and overall impact of the continued conflicts in Ukraine and the Middle East; the ability of the Corporation to retain qualified staff; the ability of the Corporation to maintain key customers; the ability of the Corporation to obtain financing on acceptable terms; the belief that the Corporation's principal sources of liquidity will be sufficient to service its debt and fund its operations and other strategic opportunities; the ability to protect and maintain the Corporation's intellectual property; and the regulatory framework regarding taxes and environmental matters in the jurisdictions in which the Corporation operates. Forward-looking information is presented in this press release for the purpose of assisting investors and others in understanding certain key elements of the Corporation's financial results and business plan, as well as the objectives, strategic priorities and business outlook of the Corporation, and in obtaining a better understanding of the Corporation's anticipated operating environment. Readers are cautioned that such forward-looking information may not be appropriate for other purposes. While Stampede believes the expectations and material factors and assumptions reflected in the forward-looking information is reasonable as of the date hereof, there can be no assurance that these expectations, factors and assumptions will prove to be correct. Forward-looking information is not a guarantee of future performance and actual results or events could differ materially from the expectations of the Corporation expressed in or implied by such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information is subject to a number of known and unknown risks and uncertainties including, but not limited to: the condition of the global economy, including trade, inflation, the ongoing conflict in Ukraine, the Middle East and other geopolitical risks, including the imposition of tariffs and other non-tariff trade barriers; the condition of the crude oil and natural gas industry and related commodity prices; other commodity prices and the potential impact on the Corporation and the industry in which the Corporation operates, including levels of exploration and development activities; the impact of increasing competition; fluctuations in operating results; the ongoing significant volatility in world markets and the resulting impact on drilling and completions programs; foreign currency exchange rates; interest rates; labour and material shortages; cyber security risks; natural catastrophes; and certain other risks and uncertainties detailed under the heading "Risks and Uncertainties" in the Corporation's annual MD&A and under the heading "Risk Factors" in the Corporation's AIF, each dated March 13, 2025, for the year ended December 31, 2024, and from time to time in Stampede's public disclosure documents available at This list of risk factors should not be construed as exhaustive. Readers are cautioned that events or circumstances could cause actual results to differ materially from those predicted, forecasted, or projected. Statements, including forward-looking information, are made as of the date of this press release and the Corporation does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. All forward-looking information contained in this press release is expressly qualified by this cautionary statement.
Cision Canada
26 minutes ago
- Cision Canada
Northstar Announces 2025 Annual and Special General Meeting Results
CALGARY, AB, July 31, 2025 /CNW/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) (" Northstar" or the " Company") is pleased to announce that all matters put forward to its shareholders at the Company's annual general and special meeting of shareholders (the " Meeting") held on Tuesday, July 29, 2025 were duly approved. At the Meeting, the Company's shareholders approved the matters voted on, including: the re-election of the eight director candidates proposed by management; the reappointment of MNP LLP as auditors of the Company; and the approval of the Company's 2025 Equity Incentive Plan (the " Plan"). Approval of the Plan remains subject to the final approval of the TSX Venture Exchange. A total of 16,982,400 voting shares were represented and voted, in person or by proxy, at the Meeting, representing 10.2% of the Company's issued and outstanding eligible voting shares. About Northstar Northstar is a Canadian waste to value technology company focused on the sustainable recovery and reprocessing of asphalt shingles. Northstar developed and owns a proprietary design process for taking discarded asphalt shingles, otherwise destined for already over-crowded landfills, and extracts the liquid asphalt for use in new hot mix asphalt shingle manufacturing and asphalt flat roof systems while also extracting aggregate and fiber for use in construction products and other industrial applications. Focused on the circular economy, Northstar plans to reprocess used or defective asphalt shingle waste back into its three primary components for reuse/resale with its first commercial scale up facility in Calgary, Alberta. As an emerging innovator in sustainable processing, Northstar's mission aims at leading the recovery and reprocessing of asphalt shingles in North America that would otherwise be sent to landfill addressing numerous stakeholder objectives. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on For further information about Northstar, please visit On Behalf of the Board of Directors, Aidan Mills President & CEO, Director Cautionary Statement on Forward-Looking Information 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. The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. This press release may contain forward‐looking information within the meaning of applicable securities legislation, which forward‐looking information reflects the Company's current expectations regarding future events. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "aim", "objective" or similar expressions. Forward-looking statements in this press release include, but are not limited to, statements concerning: (i) Northstar's plans to reprocess used shingles into their component parts in the inaugural commercial facility in Calgary; and (ii) Northstar's ability to become a leader in the recovery and reprocessing of asphalt shingles in North America. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including: risks related to factors beyond the control of the Company; inability of the Company to execute on its business plans; the Company may require additional financing which may not be obtainable or on favourable terms; economic uncertainty; and the risks and uncertainties which are more fully described under the heading "Risk Factors" in the Company's annual and quarterly management's discussion and analysis and other filings with the Canadian securities regulatory authorities under the Company's profile on SEDAR+. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company does not undertake any obligation to update such forward‐looking information whether because of new information, future events or otherwise, except as expressly required by applicable law. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, expected or aimed. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.
