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CBC
30 minutes ago
- CBC
Ontario to make Ring of Fire a special economic zone 'as quickly as possible': Ford
Ontario Premier Doug Ford says the province intends to designate the mineral-rich Ring of Fire as a special economic zone as quickly as possible. He says he and several ministers will consult all summer with First Nations about the new law that allows the Ontario government to suspend provincial and municipal rules before making the designation. The law seeks to speed up the building of large projects, particularly mines. First Nations are livid about the new law and say it tramples their rights and ignores their concerns. The province passed Bill 5 on Wednesday despite several weeks of First Nations protests throughout the province and at Queen's Park. Critics also say the bill guts protections for endangered and threatened species.
Globe and Mail
31 minutes ago
- Globe and Mail
$750 Million Market Projected to Reach $3.35 Billion Globally in 2034 for Abbreviated New Drug Application Filed on Preservative-Free IV Ketamine: NRx Pharmaceuticals, Inc. (Nasdaq: NRXP)
$NRXP Has $7.8 Million in Financing for Clinic Acquisitions and Purchase of Kadima Neuropsychiatry Institute as Treatment Model and Leading Investigative Site for Suicidal Depression / PTSD Developing NRX-101, an FDA-Designated Investigational Breakthrough Therapy for Suicidal Treatment-Resistant Bipolar Depression and Chronic Pain. Aiming to be the First FDA-Approved Medication to Treat Suicidal Depression Designed to Help Address the Needs of Over 13 Million Americans who Seriously Consider Suicide Each Year (CDC). Abbreviated New Drug Application Filed for Preservative-Free IV Ketamine. Current Ketamine Market Estimated at $750 Million and Projected to Reach $3.35 Billion Globally in 2034. $7.8 Million Debt Financing to Fuel NRXP HOPE Clinic Acquisitions with Universal Capital, LLC. Added to Previously Announced Term Sheet with a Strategic Investor, NRXP HOPE Funding of $10.3 Million is Planned in Near Term. Agreement to Purchase Kadima Neuropsychiatry Institute Expected to Serve as Clinical Model for Treatment Offerings Nationwide. Kadima is a Leading Investigative Site for CNS and Psychedelic Research, Having Served as the Lead Site in Nearly All Major Trials in This Space. Dr. David Feifel, Nationally Recognized Pioneer in Interventional Psychiatry to join as Chief Medical Innovation Officer. New Drug Application for Treatment of Suicidal Depression; Planned NDA for Accelerated Approval for Bipolar Depression in People at Risk of Akathisia. Patent Application Filed for NRX-100 Proprietary, Preservative Free Formulation of IV Ketamine. Patent expected to be Orange Book Listable. Waiver Exemption from Paying a $4.3 Million New Drug Application Fee Under Prescription Drug User Fee Act (PDUFA). Accepted Non-Binding Potential Terms to License and Distribute NRX-100 Drug Providing Over $300 Million in Milestones Plus Tiered Double-Digit Royalties. Application to Uplist to NASDAQ Global Market from NASDAQ Capital Market NRx Pharmaceuticals, Inc. (Nasdaq: NRXP) is a clinical-stage biopharmaceutical company developing therapeutics based on its NMDA platform for the treatment of central nervous system disorders, specifically suicidal bipolar depression, chronic pain and PTSD. NRXP is developing NRX-101, an FDA-designated investigational Breakthrough Therapy for suicidal treatment-resistant bipolar depression and chronic pain NRXP has partnered with Alvogen Pharmaceuticals around the development and marketing of NRX-101 for the treatment of suicidal bipolar depression. NRX-101 additionally has potential to act as a non-opioid treatment for chronic pain, as well as a treatment for complicated UTI. NRXP is working on a New Drug Application for NRX-100 (IV ketamine) in the treatment of suicidal depression, based on results of well-controlled clinical trials conducted under the auspices of the US National Institutes of Health and newly obtained data from French health authorities, licensed under a data sharing agreement. NRXP was awarded Fast Track Designation for development of ketamine (NRX-100) by the US FDA as part of a protocol to treat patients with acute suicidality. Intravenous ketamine is widely accepted as a standard of care for acute treatment of suicidal depression, in the absence of an FDA-labeled product; the only treatment currently approved by the FDA is electroconvulsive therapy (ECT). According to the CDC, 3.8 million Americans make a plan for suicide each year. This represents a $3-5 billion market at expected pricing. Based on the data in the trials referenced above, the Company's regulatory counsel encouraged the Company to file an NDA for suicidal depression for NRX-100. In a January 2025 report, respected investment analysis firm D. Boral Capital assigned NRXP a $31 Price Target. The full report may be viewed at this link: Abbreviated New Drug Application (ANDA) for Preservative-Free IV Ketamine On June 5th NRXP announced the transmission of its Abbreviated New Drug Application (ANDA) for electronic filing to the U.S. Food and Drug Administration (FDA) for NRX-100, its preservative-free IV ketamine formulation, for use in all existing approved indications such as anesthesia and pain management. NRXP anticipates filing a citizen's petition with the FDA to remove benzethonium chloride, a known neurotoxic and cytotoxic substance, from presentations of ketamine intended for intravenous use. NRXP believes that the preservative-free feature of NRX-100 will be deemed of benefit to patients because of the known toxicity of closely related benzalkonium chloride in current drug products. Preservatives were originally added to sterile injectable products in an era when a single vial of medication was used to treat multiple patients, a practice no longer allowed in US hospitals. NRXP has demonstrated that there is no need for such preservatives to maintain stability and sterility in ketamine presentations intended for single-patient use. Should the citizen's petition be granted, all formulations of ketamine sold in the US could face a regulatory requirement to be preservative free. $7.8 Million Debt Financing to Fuel NRXP HOPE Clinic Acquisitions On May 15th NRXP announced signing of a term sheet with Universal Capital, LLC to provide $7.8 million in acquisition capital to initiate subsidiary HOPE's planned national rollup of interventional psychiatry clinics, commencing with previously-announced acquisitions of Dura Medical, Kadima, and NeuroSpa. Together with proceeds of a previously announced strategic investment, this financing is anticipated to provide $10.3 million in acquisition capital. HOPE's three initial acquisitions represent best-in-class clinics that offer neuroplastic treatments including NRXP ketamine and transcranial magnetic stimulation (TMS) to treat patients with severe depression, PTSD, and related central nervous system conditions. Neuroplastic treatments represent a rapidly emerging class of interventions that cause the growth of new connections (synapses) between brain cells that have been shown in multiple clinical trials to relieve symptoms of depression and suicidality. The FDA has approved TMS devices for a number of indications and has approved a nasal form of ketamine for treatment resistant depression. HOPE's parent company, NRXP, is currently applying to the FDA for approval of intravenous preservative-free ketamine to treat suicidal depression. Agreement to Purchase Kadima Neuropsychiatry Institute; Foundational Acquisition for the NRXP HOPE Network of Interventional Psychiatry Clinics On May 13th NRXP announced signing of a definitive agreement to purchase the Kadima Neuropsychiatry Institute. Kadima is expected to serve as the clinical model for treatment offerings in NRXP HOPE-acquired clinics and is expected to continue its role as a leading investigative site for research into neuroplastic therapies including psychedelic medications, transcranial magnetic stimulation (TMS), and hyperbaric therapy. Kadima is one of California's flagship interventional psychiatry clinics and was among the first to bring ketamine treatment for central nervous system (CNS) disorders out of academic research settings and into clinical practice. The clinic offers a full range of treatments for suicidal depression, PTSD and other CNS disorders, including ketamine, Spravato, transcranial magnetic stimulation ("TMS") as well as medication management. Further, Kadima and David Feifel, MD PhD, Founder and Medical Director of Kadima, have served as leaders in clinical trial work on emerging therapies in CNS for top companies in the industry. Importantly, the clinic is profitable and is forecast to continue growth going forward. Dr. Feifel will join NRXP HOPE as its first Chief Medical Innovation Officer upon closing of the acquisition. Patent Application Filed for NRX-100 Proprietary, Preservative Free Formulation of IV Ketamine On May 5th NRXP announced the filing of a patent application for NRX-100, its preservative-free intravenous ketamine formulation for the treatment of suicidal depression. The application discloses pharmaceutical compositions, methods of treatment and methods of manufacture and currently includes twenty claims. While subject to the patent review process of the US Patent and Trademark Office, if granted, the patent would provide NRX-100 exclusivity into 2045. This patent filing builds on the NRXP recently initiated filing of an NDA for NRX-100 and its prior Fast Track Designation, with NRX-101, from the FDA. If granted, the patent will help protect the innovation behind this formulation as NRXP advances its commercialization strategy. "We are committed to delivering safer, more effective treatments for patients with suicidal depression," said Jonathan Javitt MD MPH, CEO of NRXP. "NRX-100 eliminates the need for benzethonium chloride, a compound with well-documented safety concerns, and reflects our belief that patients in crisis deserve therapies formulated with their long-term well-being in mind. With the recent FDA fee waiver now in place, we remain on track to complete our NDA submission this quarter — a critical step toward bringing this innovation to patients in need." FDA Award of Filing Fee Waiver for Upcoming NRX-100 (preservative free ketamine) New Drug Application to Treat Patients with Suicidal Depression On April 30th NRXP announced the grant of a filing fee waiver by the US Food and Drug Administration ("FDA") to exempt the Company from a $4.3 million fee to file its New Drug Application for NRX-100 (preservative-free ketamine). The waiver is granted at the discretion of the FDA to Small Business Entities and for drugs that are deemed to be necessary for Public Health. NRXP anticipates that this waiver enables the completion of its New Drug Application for NRX-100 with currently-available corporate resources. The NDA filing is anticipated by the end of the second quarter of this year (Q2 2025). Disclosure listed on the CorporateAds website Media Contact Company Name: NRx Pharmaceuticals, Inc. Contact Person: Matthew Duffy, Chief Business Officer Email: Send Email Phone: 484 254 6134 Address: 1201 Orange Street Suite 600 City: Miami State: Florida Country: United States Website:
Globe and Mail
31 minutes ago
- Globe and Mail
Silver Storm Closes First Tranche of Brokered Life Financing for Gross Proceeds of $10,541,050, Including Investment by Eric Sprott
Silver Storm Mining Ltd. (' Silver Storm ' or the " Company") (TSX.V: SVRS | FSE: SVR), is pleased to announce that it has closed the first tranche (the ' First Tranche ') of its previously announced best efforts brokered private placement for total gross proceeds of $10,541,050 (the ' Offering '), which includes the partial exercise of the agents' option. Under the Offering, the Company sold 81,085,000 units of the Company (each, a ' Unit ') at a price of $0.13 per Unit (the ' Offering Price '). Red Cloud Securities Inc. is acting as lead agent and bookrunner for the Offering and Ventum Financial Corp. is acting as co-agent (collectively, the ' Agents '). The Offering was originally announced on June 20, 2025, and subsequently updated on June 29, 2025, and June 30, 2025. The First Tranche included a $1,001,000 investment from current significant shareholder by Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him. Each Unit consists of one common share of the Company (each, a ' Unit Share ') and one common share purchase warrant (each a ' Warrant '). Each Warrant entitles the holder to purchase one common share (each, a ' Warrant Share ') at a price of $0.20 at any time on or before that date which is thirty-six (36) months from the date of issuance. The Units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (' NI 45-106 ') and in reliance on the Coordinated Blanker Order 45-935 – Exemptions From Certain Conditions of the Listed Issuer Financing Exemption (the ' Listed Issuer Financing Exemption '). The Unit Shares and Warrant Shares underlying the Units are not subject to any hold period under applicable Canadian securities legislation if sold to purchasers resident in Canada. The Units sold under the Offering to offshore and purchasers in the United States were sold in accordance with OSC Rule 72-503 - Distributions Outside Canada (' OSC Rule 72-503 '). The Units sold to purchasers in the United States will be made on a private placement basis pursuant to one or more exemptions from registration requirements of the United States Securities Act of 1933, as amended (the ' U.S. Securities Act '). The Company intends to use the net proceeds from the Offering for: (i) the procurement of mine processing flotation cells; (ii) to commence rehabilitation work of the La Parrilla processing facility including equipment purchase and refurbishment, labour and supplies; (iii) to order long lead items including deposits on mining equipment and ventilation fans; (iv) to fund ongoing operations for the next twelve months; and (v) for general corporate and working capital purposes, all as further detailed in the Amended and Restated Offering Document (as hereinafter defined). There is an amended and restated offering document relating to the Offering dated May 30, 2025 (the " Amended and Restated Offering Document") that can be accessed under the Company's profile at and on the Company's website at Prospective investors in the Offering should read the Amended and Restated Offering Document before making an investment decision. As consideration for their services in the First Tranche of the Offering, the Agents and Harbourfront Wealth Management LLC received an aggregate cash payment of $540,735 and 4,159,500 non-transferable common share purchase warrants (the ' Broker Warrants '). Each Broker Warrant is exercisable into one common share of the Company at the Offering Price for a period of thirty-six (36) months from the date of issuance. The Offering remains subject to the final approval of the TSX Venture Exchange (the ' TSXV '). The remaining Offering amount of up to $1,470,950 from the sale of up to 11,315,000 Units at the Offering Price has been allocated to subscribers and the Company is expecting to close the final tranche of the Offering within the coming days. Eric Sprott through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, and which holds greater than 10% of the Company's common shares, subscribed for 7,700,000 Units in the First Tranche of the Offering for an aggregate purchase price of $1,001,000 (the ' Insider Participation '). The Insider Participation will be considered a 'related party transaction' within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (' MI 61-101 '). The Company expects to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under MI 61-101 pursuant to section 5.5(a) and section 5.7(1)(a) of MI 61-101, on the basis that the Insider Participation does not exceed 25% of the fair market value of the Company's market capitalization. The Company did not file a material change report in respect of the Insider Participation at least 21 days before expected closing date of the Offering as the Insider Participation was not confirmed prior to the foregoing period. This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the U.S. Securities Act, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Silver Storm Mining Ltd. Silver Storm Mining Ltd. holds advanced-stage silver projects located in Durango, Mexico. In 2023 Silver Storm acquired of 100% of the La Parrilla Silver Mine Complex, a prolific past producing operation comprised of a 2,000 tpd mill as well as five underground mines and an open pit that collectively produced 34.3 million silver-equivalent ounces between 2005 and 2019. The Company also holds a 100% interest in the San Diego Project, which is among the largest undeveloped silver assets in Mexico. For more information regarding the Company and its projects, please visit our website at Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward Looking Statements: Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of the phrase 'forward-looking information' in the Canadian Securities Administrators' National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as 'believes', 'anticipates', 'expects', 'estimates', 'may', 'could', 'would', 'will', or 'plan'. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to: the intended use of proceeds of the Offering, the closing conditions of the Offering, statements with respect to the closing of the second tranche of the offering, including the timing and terms thereof, final TSXV approval of the Offering, statements with respect to the Insider Participation, including reliance on the MI 61-101 exemptions, the Company's plans and expectations for La Parrilla, and the ability to eventually place the La Parrilla Complex back into production. In making the forward-looking statements included in this news release, the Company have applied several material assumptions, including that the Offering will close on the anticipated terms or at all or may not close on the terms and conditions currently anticipated by the Company; that the Company will use the net proceeds of the Offering as anticipated; that the Company will receive all necessary approvals in respect of the Offering; the Company´s financial condition and development plans do not change because of unforeseen events, and management's ability to execute its business strategy and no unexpected or adverse regulatory changes with respect to La Parrilla, the decision to potentially place La Parrilla into production, other production related decisions or to otherwise carry out mining and processing operations, being largely based on internal non-public Company data and reports from previous operations and not based on NI 43-101 compliant reserve estimates, preliminary economic assessments, pre-feasibility or feasibility studies, resulting in higher risks than would be the case if a feasibility study were completed and relied upon to make a production decision. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein. Such forward-looking information represents managements best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
