logo
Volt Lithium Announces Executive Team Appointment, AGM and Proposed Strategic Name Change, Prepares for Future U.S. Transition

Volt Lithium Announces Executive Team Appointment, AGM and Proposed Strategic Name Change, Prepares for Future U.S. Transition

Yahoo27-05-2025

CALGARY, Alberta, May 27, 2025 (GLOBE NEWSWIRE) -- Volt Lithium Corp. (TSXV: VLT | OTCQB: VLTLF | FSE: I2D) ('Volt' or the 'Company') is pleased to announce that Marty Scase, Volt's co-founder and Board member, has agreed to join the Volt management team as Executive Chairman. This leadership enhancement, combined with recent operational milestones, supports the Company's strategy to expand growth and commercial opportunities within the U.S. critical minerals sector. Volt also announces details of its upcoming annual and special meeting ('AGM'), including a proposal for a strategic name change and continued corporate focus on corporate presence and operations within the United States. These initiatives reflect the Company's ongoing strategic alignment with U.S. policies supporting U.S. domestic critical mineral production.
Annual and Special Meeting Details
Date: June 18, 2025
Time: 12:00 p.m. (MDT)
Location: Suite 1925, 639 – 5th Avenue SW, Calgary, Alberta T2P 0M9
The AGM agenda will include a proposal to change the Company's name to LibertyStream Infrastructure Partners Inc. Full meeting details, including director elections, auditor appointments, and incentive plan approvals, are provided in the Management Information Circular available on SEDAR+ (www.sedarplus.ca) and the Company's website.
Management Appointment
Volt is pleased to announce that Volt co-founder, co-inventor of Volt's extraction technology, and member of the Board, Marty Scase, has agreed to join the management team as Executive Chairman. Mr. Scase's transition to Executive Chairman reflects his increased daily involvement in advancing the Company's extraction technologies as Volt moves toward commercial production. As the Company continues its rapid growth path in the U.S., Mr. Scase will continue to drive Volt's overall strategy for innovation and technology development as it transitions to commercial operations.
'Alex and I started Volt with the goal of efficiently extracting lithium from oilfield brines,' commented Marty Scase. 'With the new LibertyStream name reflecting our broader ambition, I'm excited to deepen my involvement and support the team as we further develop our extraction capabilities and explore additional opportunities from the resources we process.'
'I'm very pleased Marty is joining the management team,' commented Alex Wylie, Volt's President and CEO. 'His commitment and experience have always been central to our technology's development. Marty stepping into this expanded role, alongside our new name, highlights our intent to broaden the applications of the infrastructure we are integrating in field operations.'
Corporate Update and Strategic Rationale
Following the commissioning of its Field Simulation Centre in Calgary in late 2023, Volt established collaborations with U.S. oil and gas operators, validating the effectiveness of its lithium extraction technology.
In May 2024, a partnership and investment from a Permian Basin operator facilitated the deployment of Volt's initial Generation 1 Field Unit in Texas. In September 2024, the Generation 1 unit was deployed and began processing 600 barrels of oil field brine per day. Subsequently, in January and February 2025, Volt successfully installed and began operating its Generation 5 Field Unit, which can now process over 10,000 barrels of oilfield brine per day.
Since its installation, Volt has completed over 300 test runs with the Generation 5 Unit, effectively identifying optimal operating parameters to support economically viable commercial-scale lithium production, even at relatively low lithium concentration levels in the brine.
Additionally, as previously referred to in Volt News Release dated December 10, 2024, Volt, in partnership with Wellspring Hydro, secured supportive governmental backing, including a U.S. $2.5 million grant from the State of North Dakota, underscoring alignment with U.S. critical mineral production initiatives.
With these U.S. partnerships, Volt's Generation 5 Field Unit now represents the largest known operational Direct Lithium Extraction (DLE) system processing oilfield brines in North America. The modular design of the system is specifically intended for efficient and cost-effective scalability, offering the potential to quickly respond to growing domestic demand.
Strategic U.S. Corporate Transition and Name Change
Building upon progress made through U.S. partnerships, Volt seeks shareholder approval to rename the company LibertyStream Infrastructure Partners Inc. The proposed name, LibertyStream Infrastructure Partners Inc., reflects the Company's strategic evolution toward becoming an essential infrastructure partner for the U.S. oil and gas industry, focused on unlocking domestic critical mineral resources and engaging effectively with U.S. domestic customers to support supply chain security.
Leverage participation in U.S. federal programs designed to strengthen domestic critical mineral production.
Align operations closely with U.S. strategic initiatives emphasizing innovation, domestic mineral production, and supply-chain resilience.
Volt's intended future transition to business primarily in the U.S. strategically positions the Company to align with favorable governmental policies and initiatives designed to enhance critical mineral supply.
Looking Ahead
With these foundational elements in place—proven technology, North America's largest operational DLE system processing oilfield brines, strategic U.S. partnerships, and a strengthened leadership team—Volt (to be LibertyStream Infrastructure Partners Inc. following shareholder approval in June 2025) is decisively advancing from demonstration to initial commercial-scale lithium production. Volt is now actively pursuing opportunities to meet the growing U.S. domestic demand for critical minerals and look forward to updating shareholders on our commercialization milestones. Further updates will be provided as additional commercialization milestones are achieved.
About Volt Lithium
Volt is a lithium development and technology company aiming to be one of North America's first commercial producers of lithium carbonates from oilfield brine. Our strategy is to generate value for shareholders by leveraging management's hydrocarbon experience and existing infrastructure to extract lithium deposits from existing wells, thereby reducing capital costs, lowering risks and supporting the world's clean energy transition. With four differentiating pillars, and a proprietary Direct Lithium Extraction ('DLE') technology and process, Volt's innovative approach to development is focused on generating the highest lithium recoveries with lowest costs, positioning us for future commercialization. We are committed to operating efficiently and with transparency across all areas of the business staying sharply focused on creating long-term, sustainable shareholder value. Investors and/or other interested parties may sign up for updates about the Company's continued progress on its website: https://voltlithium.com/.
Contact Information
For Investor Relations inquiries or further information, please contact:
Alex Wylie, President & CEOT: +1.403.830.5811E: info@voltlithium.com
Or
Bill McClain, Investor RelationsT: +1.604.773.9423E: info@voltlithium.com
Forward Looking Statements
This news release includes certain 'forward-looking statements' and 'forward-looking information' within the meaning of applicable Canadian securities laws. When used in this news release, the words 'anticipate', 'believe', 'estimate', 'expect', 'target', 'plan', 'forecast', 'may', 'will', 'would', 'could', 'schedule' and similar words or expressions, identify forward-looking statements or information. Statements, other than statements of historical fact, may constitute forward-looking information and include, without limitation, information with respect to the Company's anticipated operational milestones, the anticipated name change of the Company and transition to operations predominantly in the United States, the deployment of the Field Unit in the Permian Basin, the production of battery grade lithium by the Field Unit, and the commercial production of lithium from oilfield brine. With respect to the forward-looking information contained in this press release, the Company has made numerous assumptions. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies and may prove to be incorrect. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein including those known risk factors outlined in the Company's annual information form for the year ended June 30, 2024 and (final) short form base shelf prospectus dated July 20, 2023. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Comet Lithium to Launch 2025 Exploration Program at Triple L and Elmer East Properties, Targeting Copper-Nickel and Lithium Anomalies
Comet Lithium to Launch 2025 Exploration Program at Triple L and Elmer East Properties, Targeting Copper-Nickel and Lithium Anomalies

Yahoo

time27 minutes ago

  • Yahoo

Comet Lithium to Launch 2025 Exploration Program at Triple L and Elmer East Properties, Targeting Copper-Nickel and Lithium Anomalies

Highlights: Fieldwork to commence on June 13th at the Triple L and Elmer East properties, in collaboration with Dahrouge Geological Consulting Ltd. Intensive surface exploration program will include 35 traverses across high-priority targets. Triple L Property exploration will focus on refining MAG and TDEM anomalies using a Beep Mat to identify potential copper-nickel mineralization. The 17-day program will involve two experienced field teams, with Comet's VP of Exploration, Vincent Cardin-Tremblay, actively participating in the exploration efforts. ROUYN-NORANDA, QC, June 10, 2025 /CNW/ - Comet Lithium Corporation (TSXV: CLIC) (FSE: 8QY) ("Comet Lithium" or the "Corporation") is pleased to announce the launch of its 2025 Phase 1 Exploration Program, set to begin on June 13, 2025, on its 100%-owned Triple L and Elmer East properties in the Eeyou Istchee James Bay region of the province of Québec. Prospecting Program: A Targeted, First-Pass Program Comet's 17-day field campaign will be conducted in partnership with Dahrouge Geological Consulting Ltd., adding proven technical expertise to the Corporation's exploration efforts. Two experienced field teams will carry out investigation, detailed mapping, sampling, and traverses across 35 planned lines in areas deemed most prospective for mineralization (shown in red in Figures 1 to 5 below). Triple L Property High-priority targets at Triple L Property were identified and selected through the interpretation of 2024 high-resolution magnetic (MAG) and time-domain electromagnetic (TDEM) survey results, alongside satellite image interpretation. Several prospective anomalies will be investigated by the field team, with support from a Beep Mat to refine target detection for potential copper-nickel mineralization. These high-priority zones are highlighted in red on the maps (see Figure 1). Geophysical surveys are not definitive, and the results are still at an early stage of interpretation, with no guarantee of a mineral discovery. The Beep Mat is a portable electromagnetic survey instrument that continuously records subsurface readings as it is pulled along the ground by an operator. It emits a distinctive audible "beep" when a conductive body is detected within approximately three metres. Elmer East Property At the Elmer East Property, priority prospecting targets were identified via satellite image analysis. The high-priority zones, shown in red (Figure 2), represent areas where bedrock is most likely outcropping or sub-outcropping, with potential for lithium-bearing pegmatites. Several outcrops have been identified in the southern block of the Elmer East Property. "We're excited to kick off the 2025 exploration program at our Triple L and Elmer East properties," said Vincent Metcalfe, Chair and CEO of Comet Lithium. "This initial phase is a critical step in advancing our portfolio, and our systematic, first-pass approach is designed to efficiently evaluate multiple high-priority target areas. At Triple L, identifying copper-nickel showings is a key focus, and our early geophysical interpretation and satellite analysis have revealed highly promising anomalies. With the expertise of our field teams and partners, we're well positioned to uncover meaningful mineralization and unlock the broader potential of both properties." Qualified Person Vincent Cardin-Tremblay, P. Geo (ogq #1386, PGO #3347), registered in the Provinces of Québec, and Ontario is Vice President Exploration to Comet Lithium, is a qualified person under National Instrument 43‑101 – Standards of Disclosure for Mineral Projects. He has reviewed the technical contents of this news release and has approved the disclosure of the technical information contained herein. About Dahrouge Geological Consulting Ltd. Dahrouge Geological Consulting Ltd. Is a global mining and mineral exploration consulting group providing expertise in professional geological, logistical, and project management services through all stages of the mining value chain. Based in Edmonton, AB, CAN, Montreal, QC, CAN, and Denver, CO, USA, Dahrouge and its predecessor, Halferdahl and Associates, have advised and assisted clients in identifying, exploring, developing, and optimizing mineral projects and resources since 1971. About Comet Lithium Corporation Comet Lithium is a dynamic exploration company with a growing portfolio of highly prospective assets located in Québec, including several properties in the prolific James Bay District. The Company's land package includes the Liberty Property, located adjacent to Winsome Resources' Adina lithium discovery, and the Troilus East Property, positioned next to Troilus Gold's gold-copper project. Comet's strategy is focused on systematic exploration and unlocking the value of its diverse property portfolio through targeted fieldwork and strategic partnerships. Forward-Looking Statements This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Comet Lithium, or the assumptions underlying any of the foregoing. In this news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan", "estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including if any planned exploration programs on the Triple L and Elmer East Properties, including the planned phase 1 exploration program described in this press release, will occur, the timing to conduct such exploration program and the results of such exploration programs, and if it does so, what benefits Comet Lithium will derive from any such exploration programs. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Comet Lithium's control. These risks, uncertainties and assumptions include, but are not limited to the risks, uncertainties and assumptions described under "Financial Instruments" and "Risk and Uncertainties" in Comet Lithium's Annual Report for the fiscal year ended December 31, 2024, a copy of which is available on SEDAR+ at and could cause actual events or results to differ materially from those projected in any forward-looking statements. Comet Lithium does not intend, nor does it undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws. 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 the release. SOURCE Comet Lithium Corporation View original content to download multimedia:

Aja Health and Wellness Inc. Provides Update on Delay in Filing Financial Statements
Aja Health and Wellness Inc. Provides Update on Delay in Filing Financial Statements

Yahoo

time31 minutes ago

  • Yahoo

Aja Health and Wellness Inc. Provides Update on Delay in Filing Financial Statements

VANCOUVER, British Columbia, June 10, 2025 (GLOBE NEWSWIRE) -- Aja Health and Wellness Inc. ("Aja" or the "Company") (TSXV:Aja) announces that it is getting closer to filing its annual audited financial statements for the financial year ending December 31, 2024, including the related management's discussion and analysis and certifications from the CEO and CFO (the "Required Annual Filings"). On May 6, 2025, the Alberta Securities Commission (the "ASC") issued a management cease trade order (the "MCTO") because the Company was unable to file the Required Annual Filings in time to meet the April 30, 2025 filing deadline. Aja previously announced that the delay in filing the Required Annual Filings was due to the determination that the previously announced reverse takeover transaction, which closed on September 17, 2024, will be characterized as a series of acquisitions for accounting purposes. This characterization requires a valuation of the purchase price allocation to complete the audited financial statements for the financial year ending December 31, 2024. The Company has retained a valuator to complete the valuation and the valuation is in progress. The Company anticipates the valuation will be completed on or before July 4, 2025 and expects to file the Required Annual Filings on or before July 31, 2025. The ASC has approved the MCTO to be left in place until June 30, 2025. While the MCTO restricts all trading in securities of the Company by executive officers of the Company until the MCTO is no longer in effect, regular trading by current and future investors outside the Company continues as normal. The MCTO will be in effect until two full business days after the Required Annual Filings are filed. Until the Required Annual Filings are filed, the Company intends to satisfy the provisions of the Alternative Information Guidelines set out in National Policy 12-203 - Management Cease Trade Orders. Update on Filing of Interim Financial Statements As a result of the delay in filing the Required Annual Filings, Aja previously announced that it was unable to file its unaudited interim financial statements for the three months ended March 31, 2025, the management's discussion and analysis for the same period and management certifications of the interim filings (the "Interim Filings") by the filing deadline of May 30, 2025. Aja is working to complete the Interim Filings as soon as possible and expects the Interim Filings to be filed concurrently with the filing of the Required Annual Filings. On behalf of the Board of Directors "Sanjeev Parsad" Sanjeev ParsadPresident, CEO and Director The above may contain "forward-looking information" within the meaning of applicable securities laws. When used in this address, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, readers are cautioned to not place undue reliance on forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date of publication of this information and the Company undertakes no obligation to update such forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Furthermore, the Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Company. All forward-looking statements contained in this news release are expressly qualified by this cautionary further information, contact: Sanjeev Parsad, President and CEOPhone: (604) 678.9115Fax: (604) 678.9279E-mail: sparsad@

Stingray Reports Fourth Quarter and Full-Year Results for Fiscal 2025
Stingray Reports Fourth Quarter and Full-Year Results for Fiscal 2025

Yahoo

time32 minutes ago

  • Yahoo

Stingray Reports Fourth Quarter and Full-Year Results for Fiscal 2025

Sustained Momentum with a Third Year of Diversified Growth and Solid Financial Strength Fourth Quarter Highlights Organic growth of 16.1% year-over-year in Broadcast and Recurring Commercial Music Revenues; Revenues increased 14.8% to $96.0 million in the fourth quarter of 2025 from $83.7 million in the fourth quarter of 2024; Net income totaled $7.7 million, or $0.11 per share, in the fourth quarter of 2025 compared to a Net loss of $46.3 million, or $0.67 per share, in the same period in 2024; Adjusted EBITDA(1) grew 19.0% to $35.0 million in the fourth quarter of 2025 from $29.4 million in the fourth quarter of 2024. Adjusted EBITDA(1) by segment was $28.1 million, or 43.6% of revenues for Broadcasting and Commercial Music, $8.6 million or 27.3% of revenues for Radio, and $(1.7) million for Corporate; Adjusted Net income(1) improved to $18.6 million, or $0.27 per share, in the fourth quarter of 2025 from $15.4 million, or $0.22 per share, in the same period in 2024; Cash flow from operating activities decreased 10.3% to $39.7 million, or $0.58 per share(1), in the fourth quarter of 2025 from $44.3 million, or $0.64 per share(1), in the fourth quarter of 2024; Adjusted free cash flow(1) rose 17.8% to $18.4 million, or $0.27 per share, in the fourth quarter of 2025 from $15.6 million, or $0.23 per share, in the same period in 2024; Net debt to Pro Forma Adjusted EBITDA(1) ratio decreased to 2.28x compared to 2.76x last year; and Repurchased and cancelled 275,000 shares for a total of $2.3 million in the fourth quarter of 2025 compared to 57,600 shares for a total of $0.4 million in the same period in 2024. Full Year Highlights Organic growth of 12.3% year-over-year in Broadcast and Recurring Commercial Music Revenues; Revenues increased 12.0% to $386.9 million in 2025 from $345.4 million in 2024; Net income totaled $36.4 million, or $0.53 per share, in 2025 compared to a Net loss of $13.7 million, or $0.20 per share, in the same period last year; Adjusted EBITDA(1) improved 13.0% to $142.2 million in 2025 from $125.9 million in 2024. Adjusted EBITDA(1) by segment was $107.6 million or 42.3% of revenues for Broadcasting and Commercial Music, $42.1 million or 31.8% of revenues for Radio, and $(7.5) million for Corporate; Adjusted Net income(1) increased to $72.7 million, or $1.05 per share, in 2025 compared to $60.3 million, or $0.87 per share, in the same period last year; Cash flow from operating activities decreased 11.4% to $105.0 million, or $1.53 per share(1), in 2025 from $118.5 million, or $1.72 per share(1), in 2024; Adjusted free cash flow(1) rose 3.5% to $83.6 million, or $1.21 per share, in 2025 from $80.8 million, or $1.17 per share, in the same period last year; and Repurchased and cancelled 1,186,800 shares for a total of $9.1 million in 2025 compared to 557,500 shares for a total of $2.9 million in 2024. MONTREAL, June 10, 2025 (GLOBE NEWSWIRE) -- Stingray Group Inc. (TSX: RAY.A; RAY.B) (the 'Corporation'; 'Stingray'), an industry leader in music and video content distribution, business services, and advertising solutions, announced today its financial results for the fourth quarter and fiscal year ended March 31, 2025. Financial Highlights(in thousands of Canadian dollars, except per share data) Three months endedMarch 31 Twelve months endedMarch 31 2025 2024 % 2025 2024 % Revenues 96,008 83,665 14.8 386,891 345,428 12.0 Adjusted EBITDA(1) 35,027 29,423 19.0 142,199 125,855 13.0 Net income (loss) 7,655 (46,318) — 36,440 (13,741) — Per share – diluted ($) 0.11 (0.67) — 0.53 (0.20) — Adjusted Net income(1) 18,568 15,382 20.7 72,654 60,312 20.5 Per share – diluted ($)(1) 0.27 0.22 22.7 1.05 0.87 20.7 Cash flow from operating activities 39,720 44,263 (10.3) 105,040 118,526 (11.4) Adjusted free cash flow(1) 18,411 15,624 17.8 83,611 80,794 3.5(1) This is a non-IFRS measure and is not a standardized financial measure. The Corporation's method of calculating such financial measures may differ from the methods used by other issuers and, accordingly, the definition of these non-IFRS financial measures may not be comparable to similar measures presented by other issuers. Refer to 'Non-IFRS Measures' on page 5 of this news release for more information about each non-IFRS measure and refer to pages 6-7 for the reconciliations to the most directly comparable IFRS financial measures. Reporting on Stingray's fiscal 2025 and fourth quarter results, President, Co-Founder and CEO Eric Boyko stated: 'Fiscal 2025 was a highly successful year that checked many boxes in our profitable growth strategy. First, advertising revenues for our Broadcast and Recurring Commercial Music segment, which comprises our FAST channel and retail media advertising units, increased by more than 45% for a second consecutive year as advertisers increasingly relied on connected TVs to maximize their advertising dollars. Accordingly, we invested in our FAST channel platform in 2025, including the recent launch of channels like Cozy Café, Movie Music, Stargaze and Cityscapes, to position Stingray as the No. 1 supplier of musical and ambient channels for connected TVs. To take advantage of growing listening hours on FAST channels worldwide, we also introduced Stingray's Premium Connected TV Ad Inventory Network to enable alternative vendors to sell unsold inventory.' 'Second, our collaboration with IAB Canada and Leger to produce a breakthrough report about the evolution of in-store audio advertising in Canada has consolidated our standing as the de facto leader in this growing sector. We are true trailblazers in this market, evangelizing retailers about the untapped potential of in-store media ads, adding sales representatives and partners to increase inventory selling, and optimizing our pricing structure to improve monetization.' 'Third, double-digit organic growth for a second straight year reflects the judicious investment decisions Stingray has made to sustain revenue growth and drive profitability.' 'Finally, we reduced our net debt level by more than $27 million in 2025, closing the fiscal year with a Net Debt to Pro Forma Adjusted EBITDA ratio of 2.28 times and well within our target range.' 'In this encouraging context, Broadcasting and Commercial Music revenues increased 17.8% to $254.5 million in 2025, driven by higher FAST channel revenues, greater equipment and installation sales related to digital signage, and a positive foreign exchange impact,' Mr. Boyko added. 'Radio revenues improved 2.3% year-over-year to $132.3 million in 2025 mainly due to higher digital revenues. We are particularly pleased that our strategy to leverage the Radio sales team in Canada to sell in-store audio and video ads is beginning to deliver meaningful results. This latest facet of our plan helped to generate Radio revenue growth of nearly 4% in the fourth quarter despite a tight market environment.' 'Looking ahead to fiscal 2026, our capital allocation priorities are well-defined. We intend to sustain our momentum by re-investing in high-growth growth areas of our business; lowering our net debt level to a leverage ratio approaching 2.0 times; seeking acquisitions on an opportunistic basis; and continuing to reward shareholders with our well-established NCIB and dividend programs,' Mr. Boyko concluded. Fourth Quarter ResultsRevenues in the fourth quarter of 2025 increased $12.3 million, or 14.8%, to $96.0 million from $83.7 million in the fourth quarter of 2024. The growth was mainly due to an increase in FAST channel revenues and a positive foreign exchange impact. Revenues in Canada rose $1.2 million, or 2.7%, to $46.8 million from $45.6 million in the fourth quarter of 2024. The growth was mainly due to an increase in Radio revenue mostly driven by higher local sales. Revenues in the United States grew $11.8 million, or 45.0%, to $38.0 million from $26.2 million in the fourth quarter of 2024. The increase can be attributed to higher FAST channel revenues and a positive foreign exchange impact. Revenues in Other countries decreased $0.7 million, or 5.5%, to $11.2 million from $11.9 million in Q4 2024. The year-over-year decline was mainly due to lower in-store commercial revenues. Broadcasting and Commercial Music revenues in the fourth quarter of 2025 increased $11.2 million, or 20.9%, to $64.6 million from $53.4 million in the fourth quarter of 2024. The growth was primarily driven by higher FAST channel revenues and a positive foreign exchange impact. For the fourth quarter of 2025, Radio revenues improved $1.1 million, or 3.9%, to $31.4 million from $30.3 million in the same period of 2024. This increase was largely due to higher local revenues. Consolidated Adjusted EBITDA in the fourth quarter of 2025 increased $5.6 million, or 19.0%, to $35.0 million from $29.4 million in the fourth quarter of 2024. Adjusted EBITDA margin in the fourth quarter of 2025 rose to 36.5% from 35.2% in the same period last year. The increase in Adjusted EBITDA and Adjusted EBITDA margin was mainly due to higher revenues, partially offset by greater operating expenses related mainly to higher salaries. For the fourth quarter of 2025, net income totaled $7.7 million, or $0.11 per share, compared to a net loss of $46.3 million, or ($0.67) per share, in the fourth quarter of 2024. The variance was mainly due to a one-time impairment charge of $56.1 million on goodwill related to the Radio segment in the comparable period in 2024 and higher operating results in Q4 2025. These factors were partially offset by a foreign exchange loss and an unrealized loss on derivative financial instruments in the most recent quarter. Cash flow generated from operating activities amounted to $39.7 million in the fourth quarter of 2025 compared to $44.3 million in the fourth quarter of 2024. The decline was primarily due to a foreign exchange loss, higher income taxes paid, as well as greater acquisition, legal, restructuring and other costs. These factors were partially offset by improved operating results. Adjusted free cash flow generated in the fourth quarter of 2025 totaled $18.4 million compared to $15.6 million in the same period last year. The increase was mainly related to improved operating results, partially offset by higher income taxes paid. As of March 31, 2025, the Corporation had cash and cash equivalents of $14.0 million and credit facilities of $341.4 million. The credit facility consists of a $500 million revolving credit facility, of which $156.3 million was available. Full-Year ResultsFiscal 2025 revenues increased $41.5 million, or 12.0%, to $386.9 million from $345.4 million in 2024. The growth was largely due to higher FAST channel revenues, greater equipment and installation sales related to digital signage, and a positive foreign exchange impact. Adjusted EBITDA in fiscal 2025 improved by $16.3 million, or 13.0%, to $142.2 million from $125.9 million in 2024. Adjusted EBITDA margin in 2025 reached 36.8% compared to 36.4% in 2024. The increase in Adjusted EBITDA and Adjusted EBITDA margin was mainly driven by higher revenues, partially offset by greater operating expenses related mostly to higher salaries. Net income in fiscal 2025 totaled $36.4 million, or $0.53 per share, compared to a net loss of $13.7 million, or ($0.20) per share, in 2024. The variance was primarily due to a one-time impairment charge of $56.1 million on goodwill related to the Radio segment in the comparable period in 2024 and to higher operating results in 2025. These factors were partially offset by an unrealized loss on derivative financial instruments, a one-time settlement gain related to a trademark dispute in the comparable period in 2024, and a higher foreign exchange loss. Adjusted net income in fiscal 2025 amounted to $72.7 million, or $1.05 per share, compared to $60.3 million, or $0.87 per share, in 2024. The increase can mainly be attributed to higher operating results and lower interest expense, partially offset by a greater foreign exchange loss. Declaration of DividendThe Corporation declared a dividend of $0.075 per subordinate voting share, variable subordinate voting share and multiple voting share on March 25, 2025. The dividend will be payable on or around June 13, 2025, to shareholders on record as of May 30, 2025. The Corporation's dividend policy is at the discretion of the Board of Directors and may vary depending upon, among other things, our available cash flow, results of operations, financial condition, business growth opportunities and other factors that the Board of Directors may deem relevant. The dividends paid are designated as "eligible" dividends for the purposes of the Income Tax Act (Canada) and any corresponding provisions of provincial and territorial tax legislation. Business Highlights and Subsequent Events On April 15, 2025, the Corporation announce a partnership with Zoox, an autonomous mobility company. This collaboration enhances the rider experience in Zoox robotaxis with a diverse selection of curated music channels. On March 11, 2025, the Corporation announced the launch the launch of three of its popular FAST channels, Qello Concerts, Stingray Classica, and Movie Music, on Germany's largest TV platform for HD television. On February 5, 2025, the Corporation announced the launch of four new FAST (Free Ad-Supported Streaming TV) video channels. Cozy Café, Stargaze, and Movie Music have been selected by various platforms, including LG Channels, Samsung TV Plus, as part of their new channel offerings. On January 20, 2025, the Corporation announced the launch of five video channels on the ScreenHits TV in-car entertainment platform, available in Renault Grand Koleos, Nio and Porsche (Cayenne, Taycan, Panamera and 911) vehicles with upcoming plans for a worldwide release. On January 9, 2025, the Corporation announced that Samsung TV Karaoke, powered by the Stingray Karaoke app, has received the CES Innovation Award 2025 in the Content & Entertainment category. Conference CallThe Corporation will hold a conference call tomorrow, June 11, 2025, at 10:00 AM (ET) to review its financial results. Interested parties can join the call by dialing 289-514-5100 (Toronto) or 1-800-717-1738 (toll free). A rebroadcast of the conference call will be available until midnight, July 11, 2025, by dialing 289-819-1325 or 888-660-6264 and entering passcode 11999. About StingrayStingray (TSX: RAY.A; RAY.B), a global music, media, and technology company, is an industry leader in TV broadcasting, streaming, radio, business services, and advertising. Stingray provides an array of global music, digital, and advertising services to enterprise brands worldwide, including audio and video channels, 97 radio stations, subscription video-on-demand content, FAST channels, karaoke products and music apps, and in-car and on-board infotainment content. Stingray Business, a division of Stingray, provides commercial solutions in music, in-store advertising solutions, digital signage, and AI-driven consumer insights and feedback. Stingray Advertising is North America's largest retail audio advertising network, delivering digital audio messaging to more than 30,000 major retail locations. Stingray has close to 1,000 employees worldwide and reaches 540 million consumers in 160 countries. For more information, visit Forward-Looking InformationThis news release contains forward-looking information within the meaning of applicable Canadian securities law. Such forward-looking information includes, but is not limited to, information with respect to Stingray's goals, beliefs, plans, expectations, anticipations, estimates and intentions. Forward-looking information is identified by the use of terms and phrases such as "may", "would", "should", "could", "expect", "intend", "estimate", "anticipate", "plan", "foresee", "believe", and "continue", or the negative of these terms and similar terminology, including references to assumptions. Please note, however, that not all forward-looking information contains these terms and phrases. Forward-looking information is based upon a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Stingray's control. These risks and uncertainties could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors identified in Stingray's Annual Information Form for the year ended March 31, 2025, which is available on SEDAR at Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that Stingray anticipates will be realized or, even if substantially realized, that they will have the expected consequences or effects on Stingray's business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein is provided as of the date hereof, and Stingray does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law. Non-IFRS MeasuresThe Corporation believes that Adjusted EBITDA and Adjusted EBITDA margin are important measures when analyzing its operating profitability without being influenced by financing decisions, non-cash items and income taxes strategies. Comparison with peers is also easier as companies rarely have the same capital and financing structure. The Corporation believes that Adjusted Net income and Adjusted Net income per share are important measures as it shows stable results from its operation which allows users of the financial statements to better assess the trend in the profitability of the business. The Corporation believes that Adjusted free cash flow and Adjusted free cash flow per share are important measures when assessing the amount of cash generated after accounting for capital expenditures and non-core charges. It demonstrates cash available to make business acquisitions, pay dividend and reduce debt. The Corporation believes that Net debt and Net debt to Pro Forma Adjusted EBITDA are important to analyse the company's debt repayment capacity on an annualized basis, taking into consideration the annualized adjusted EBITDA of acquisitions made during the last twelve months. Each of these non-IFRS financial measures is not an earnings or cash flow measure recognized by International Financial Reporting Standards (IFRS) and does not have a standardized meaning prescribed by IFRS. This method of calculating such financial measures may differ from the methods used by other issuers and, accordingly, our definition of these non-IFRS financial measures may not be comparable to similar measures presented by other issuers. Investors are cautioned that non-IFRS financial measures should not be construed as an alternative to net income determined in accordance with IFRS as indicators of our performance or to cash flows from operating activities as measures of liquidity and cash flows. Reconciliation of Net income to Adjusted EBITDA, Adjusted Net income, LTM Adjusted EBITDA and Pro Forma Adjusted EBITDA 3 months 12 months (in thousands of Canadian dollars) March 31,2025Q4 2025 March 31, 2024Q4 2024 March 31,2025Fiscal 2025 March 31, 2024Fiscal 2024 Net income (loss) 7,655 (46,318 ) 36,440 (13,741 ) Impairment on goodwill – 56,119 – 56,119 Net finance expense 9,516 3,736 42,416 28,883 Change in fair value of investments 2 (106 ) (54 ) 18 Income taxes 977 3,639 10,982 16,030 Depreciation and write-off of property and equipment 1,941 1,183 8,090 8,342 Depreciation of right-of-use assets 1,020 1,192 4,097 4,420 Amortization of intangible assets 5,115 4,124 18,583 17,371 Share-based compensation 111 93 409 435 Performance and deferred share unit expense 5,640 4,711 10,181 6,841 Share of results of investments in associates (210 ) (354 ) 3,381 1,166 Gain on disposal of an investment (845 ) – (845 ) – Other income (24 ) – (24 ) – Acquisition, legal, restructuring and other expenses 4,129 1,404 8,543 (29 ) Adjusted EBITDA 35,027 29,423 142,199 125,855 Adjusted EBITDA margin 36.5% 35.2% 36.8% 36.4% Net income (loss) 7,655 (46,318 ) 36,440 (13,741 ) Adjusted for: Impairment on goodwill – 56,119 – 56,119 Unrealized loss (gain) on derivative instruments 1,010 (2,252 ) 9,267 (1,431 ) Amortization of intangible assets 5,115 4,124 18,583 17,371 Change in fair value of investments 2 (106 ) (54 ) 18 Share-based compensation 111 93 409 435 Performance and deferred share unit expense 5,640 4,711 10,181 6,841 Share of results of investments in associates (210 ) (354 ) 3,381 1,166 Gain on disposal of an investment (845 ) – (845 ) – Other income (24 ) – (24 ) – Acquisition, legal, restructuring and other expenses 4,129 1,404 8,543 (29 ) Income taxes on above noted adjustments (4,015 ) (2,039 ) (13,227 ) (6,437 ) Adjusted Net income 18,568 15,382 72,654 60,312 Average number of shares outstanding (diluted) 68,807 68,811 68,871 69,104 Adjusted Net income per share (diluted) 0.27 0.22 1.05 0.87 (in thousands of Canadian dollars) March 31,2025Fiscal 2025 March 31,2024Fiscal 2024 LTM Adjusted EBITDA 142,199 125,855 Permanent cost-saving initiatives 1,046 2,758 Adjusted EBITDA for the months prior to the business acquisition of The Coda Collection which are not already reflected in the results 150 – Pro Forma Adjusted EBITDA 143,395 128,613 Reconciliation of Cash Flow from Operating Activities to Adjusted Free Cash Flow 3 months 12 months (in thousands of Canadian dollars) March 31,2025Q4 2025 March 31, 2024Q4 2024 March 31,2025Fiscal 2025 March 31, 2024Fiscal 2024 Cash flow from operating activities 39,720 44,263 105,040 118,526 Add / Less : Acquisition of property and equipment (2,057 ) (2,351 ) (7,194 ) (7,812 ) Acquisition of intangible assets other than internally developed intangible assets (1,183 ) (355 ) (2,680 ) (1,231 ) Addition to internally developed intangible assets (1,371 ) (1,148 ) (5,184 ) (5,001 ) Interest paid (5,287 ) (6,641 ) (23,781 ) (25,927 ) Repayment of lease liabilities (954 ) (929 ) (4,295 ) (4,351 ) Net change in non-cash operating working capital items (17,094 ) (17,661 ) 6,663 5,983 Unrealized loss (gain) on foreign exchange 2,508 (958 ) 6,499 636 Acquisition, legal, restructuring and other expenses 4,129 1,404 8,543 (29 ) Adjusted free cash flow 18,411 15,624 83,611 80,794 Calculation of Net Debt and Net Debt to Pro Forma Adjusted EBITDA Ratio (in thousands of Canadian dollars) March 31, 2025 March 31, 2024 Credit facilities 341,365 338,712 Subordinated debt – 25,579 Cash and cash equivalents (13,984 ) (9,606 ) Net debt 327,381 354,685 Net debt to Pro Forma Adjusted EBITDA 2.28 2.76 Note to readers: Consolidated financial statements and Management's Discussion & Analysis of Operating Results and Financial Position are available on the Corporation's website at and on SEDAR at Contact InformationMathieu PéloquinSenior Vice-President, Marketing and CommunicationsStingray(514) 664-1244, ext. 2362mpeloquin@ 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

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store