Timbercreek Financial Announces 2025 Second Quarter Results
Q2 2025 Highlights1
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Cision Canada
30 minutes ago
- Cision Canada
Essa Pharma Inc. Announces US$80 Million Cash Distribution to Shareholders
SOUTH SAN FRANCISCO, Calif and VANCOUVER, Canada, Aug. 6, 2025 /CNW/ -- ESSA Pharma Inc. (" ESSA," or the " Company") (NASDAQ: EPIX) today announced that, following the Company's receipt of an order from the Supreme Court of British Columbia (the " Court") on August 5, 2025, authorizing a reduction in the capital of the common shares of the Company (the " Common Shares" and the holders of such Common Shares, the " Shareholders") and concurrent distribution to the Shareholders, the board of directors of the Company (the " Board") has approved a return of capital distribution in the aggregate amount of US$80,000,000 (the " Distribution") to the Shareholders as part of the discontinuance and winding-up of the business of the Company. The Distribution is scheduled to be paid on August 22, 2025, to Shareholders of record as of the close of business on August 19, 2025. The Distribution will occur prior to the special meeting of the Company's Shareholders, optionholders and warrantholders that is being held to consider and approve the Company's previously announced transaction with XenoTherapeutics, Inc. (" Xeno"), a non-profit biotechnology company, under which Xeno will acquire all of the issued and outstanding Common Shares (the " Transaction"), which meeting is expected to be held on September 10, 2025 (the " Special Meeting"). On August 5, 2025, the Company obtained an interim order from the Court authorizing the Special Meeting. In total, with the Distribution and the cash payable upon closing of the Transaction, each Shareholder is currently estimated to receive approximately US$1.91 per Common Share, exclusive of any contingent value rights payments Shareholders are entitled to receive pursuant to the Transaction. About ESSA Pharma Inc. ESSA is a pharmaceutical company that was previously focused on developing novel and proprietary therapies for the treatment of patients with prostate cancer. For more information, please visit Forward Looking Statement This communication, and any related oral statements, contains certain information which, as presented, constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, " forward-looking statements"). Forward-looking statements include, but are not limited to, statements that relate to future events and often address expected future business and financial performance, containing words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions and include, but are not limited to, statements regarding the proposed timing and completion of the Transaction, the amounts payable under the Transaction; the Company's application to the Supreme Court of British Columbia for a reduction of capital and cash distribution prior to the closing of the Transaction; the timing and receipt of securityholder, regulatory and court approvals of the Transaction; the satisfaction of the conditions to the completion of the Transaction and other statements that are not statements of historical facts. In this communication, these forward-looking statements are based on ESSA's current expectations, estimates and projections regarding, among other things, the expected date of closing of the Transaction and the potential benefits thereof, its business and industry, management's beliefs and certain assumptions made by ESSA, all of which are subject to change. Forward-looking statements are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of ESSA to control or predict, and which may cause ESSA's actual results, performance or achievements to be materially different from those expressed or implied thereby, including the consummation of the Transaction and the anticipated benefits thereof. Such statements reflect ESSA's current views with respect to future events, are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by ESSA as of the date of such statements, are inherently subject to significant medical, scientific, business, economic, competitive, regulatory, political and social uncertainties and contingencies. In making forward-looking statements, ESSA may make various material assumptions, including but not limited to (i) the completion of the Transaction on anticipated terms and timing, including obtaining required securityholder, regulatory and court approvals, and the satisfaction of other conditions to the completion of the Transaction; (ii) the potential for the date of the Special Meeting to change; (iii) potential litigation relating to the Transaction that could be instituted by or against ESSA, Xeno, XOMA Royalty Corporation or their respective directors or officers, including the effects of any outcomes related thereto; (iv) the risk that disruptions from the Transaction will harm ESSA's business, including current plans and operations; (v) the ability of ESSA to retain and hire key personnel; (vi) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Transaction; (vii) continued availability of capital and financing and rating agency actions; (viii) legislative, regulatory and economic developments affecting ESSA's business; (ix) the accuracy of ESSA's financial projections; (x) general business, market and economic conditions; (xi) certain restrictions during the pendency of the Transaction that may impact ESSA's ability to pursue certain business opportunities or strategic transactions; (xii) unpredictability and severity of catastrophic events, including but not limited to acts of terrorism, pandemics, outbreaks of war or hostilities, as well as ESSA's response to any of the aforementioned factors; (xiii) significant transaction costs associated with the Transaction; (xiv) the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xv) competitive responses to the Transaction; (xvi) the risks and uncertainties pertaining to ESSA's business, including those set forth in ESSA's Annual Report on Form 10-K dated December 17, 2024, under the heading "Risk Factors", a copy of which is available on ESSA's profile on EDGAR at and on SEDAR+ at and as otherwise disclosed from time to time on ESSA's EDGAR and SEDAR+ profiles; and (xvii) the risks and uncertainties that will be described in the proxy statement and management information circular for the Company's securityholders filed with the U.S. Securities and Exchange Commission (the " SEC," and such statement, the " Proxy Statement") available from the sources indicated above. These risks, as well as other risks associated with the Transaction, will be more fully discussed in the Proxy Statement. While the list of factors presented here is, and the list of factors to be presented in the Proxy Statement will be, considered representative, no such list should be considered a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material impact on ESSA's financial condition, results of operations, credit rating or liquidity. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and ESSA undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as may be required by applicable United States and Canadian securities laws. Readers are cautioned against attributing undue certainty to forward-looking statements. Important Additional Information and Where to Find It In connection with the proposed Transaction between ESSA, Xeno and XOMA Royalty Corporation, ESSA has filed with the SEC the preliminary Proxy Statement on July 31, 2025, the definitive version of which will be filed with the SEC and sent or provided to ESSA securityholders. ESSA may also file other documents with the SEC regarding the proposed Transaction. This document is not a substitute for the Proxy Statement or any other document which ESSA may file with the SEC or send or provide to ESSA securityholders in connection with the Transaction. INVESTORS AND SECURITYHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and securityholders may obtain free copies of the Proxy Statement and other documents that are filed or will be filed with the SEC by ESSA (when they become available) through the website maintained by the SEC at on SEDAR+ at or at ESSA's website at Participants in the Solicitation ESSA and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from ESSA's shareholders in connection with the proposed Transaction. Additional information regarding such participants, including a description of their direct or indirect interests, by security holdings or otherwise, can be found under the captions "THE ARRANGEMENT – Interests of the Company's Directors and Executive Officers in the Arrangement", "IMPORTANT INFORMATION ABOUT THE COMPANY – Security Ownership" and "INTERESTS OF THE COMPANY'S DIRECTORS AND EXECUTIVE OFFICERS IN THE ARRANGEMENT" contained in the preliminary Proxy Statement filed with the SEC on July 31, 2025. Information relating to the foregoing can also be found in ESSA's proxy statement for its 2025 annual meeting of shareholders, which was filed with the SEC on January 22, 2025 (the " Annual Meeting Proxy Statement"). To the extent holdings of securities by potential participants changed since the applicable "as of" date disclosed in the preliminary Proxy Statement, such information has been or will be reflected on ESSA's Statements of Change in Ownership on Forms 3 and 4 filed with the SEC. You may obtain free copies of these documents using the sources indicated above. or / Dan Moore [email protected] SOURCE ESSA Pharma Inc.
Cision Canada
30 minutes ago
- Cision Canada
CANTEX ANNOUNCES CLOSING OF FIRST TRANCHE OF A NON-BROKERED PRIVATE PLACEMENT
KELOWNA, BC, Aug. 6, 2025 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (OTCQB: CTXDF) (the " Company") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement (the " Offering"). The first tranche of the Offering consisted of 4,839,999 charity flow through units (" CFT Units") at $0.21 per CFT Unit and 5,731,372 hard units (" Units") at $0.14 per Unit for total gross proceeds of $1,818,791.87. Each CFT Unit is comprised of one flow through share and one non-flow through warrant. Each Unit is comprised of one common share and one non-flow through warrant. Each whole warrant issued in connection with the Offering entitles the holder to acquire one common share at a price of $0.21 for a term of three years. 0974052 B.C. Ltd. (" BC Ltd"), a company over which Dr. Charles Fipke, the Chairman and a control person of the Company exercises control and direction over, subscribed for 3,571,429 Units for a total subscription price of $500,000. The issuance of the Units to BC Ltd. constitutes a "related party transaction" as defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions (" MI 61-101"). The Company is relying on the exemption from valuation requirements and minority approval pursuant to subsections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, for the Insider participation in the Offering, as the value of the Units subscribed for does not represent more than 25% of the Company's market capitalization, as determined in accordance with MI 61-101. In connection with the closing of the first tranche of the Offering, the Company paid an aggregate cash finders' fee of $36,652 and issued an aggregate of 391,692 non-transferable finders' warrants (the " Finder's Warrants") to certain arm's length finders. Each Finder's Warrant entitles the holder to purchase one common share (a " Finder Share") at an exercise price of $0.21 per Finder Share for a period of three years from the date of issuance of the Finder's Warrant. Proceeds from the Offering will be used to fund qualified critical mineral exploration expenditures on the Company's North Rackla project in the Yukon and for general operations. The Offering remains subject to the acceptance of the TSX Venture Exchange. About Cantex Cantex is focused on its 100% owned 20,000 hectare North Rackla Project located 150 kilometers northeast of the town of Mayo in the Yukon Territory, Canada where high-grade massive sulphide mineralization has been discovered. Over 60,000 meters of drilling has defined high grade silver-lead-zinc-germanium mineralization over 2.3 kilometers of strike length and 700 meters depth. The mineralization remains open along strike and to depth. The Company is led by Dr. Charles Fipke, C.M., the founder of Ekati, Canada's first diamond mine. The technical information and results reported here have been reviewed by Mr. Chad Ulansky a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release. Signed, Chad Ulansky Chad Ulansky President and CEO Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE Cantex Mine Development Corp.
Cision Canada
30 minutes ago
- Cision Canada
BEACH REPORT ANNUAL PRODUCTION RESULTS, UPDATED RESERVES, AND PROPOSED FY26 DRILLING PROGRAM
Trading Symbol: NWX (TSX-V) VANCOUVER, BC, Aug. 6, 2025 /CNW/ - Newport Exploration Ltd ("Newport" or "the Company") provides an update on operations and reserves for licences in the Cooper Basin, Australia, over which the Company has a 2.5% gross overriding royalty ("GOR"). This information was reported by Beach Energy Ltd ("Beach") (ASX: BPT) in its 2025 Annual Report and FY25 Results Presentation, both dated 4 th August 2025. Beach reports on the Western Flank, which includes ex PEL's 91, 106 and 107, and the Udacha Block – PPL 280 which are subject to the Company's GOR, as well as licences ex PEL's 92, 104 and 111, over which the Company does not have a GOR. Production Beach report total Western Flank production for the year was 2.3 MMboe, a decrease of 33% from the prior year. The decrease in production was mainly due to natural field decline and production interruptions from flooding in the Western Flank. The Company will update shareholders as soon as it is in receipt of any specific production forecasts for the GOR licences. Reserves Beach report Western Flank reserves and contingent resources as at 30 th June, 2025. Categories presented for reserves are 1P reserves (Proved) and 2P reserves (Proved and Probable). Reported reserves have been independently audited by RISC Advisory in accordance with the definitions and guidelines contained within the Petroleum Resources Management System (PRMS) as set out in SPE Reserves Auditing Standards in Australia. Beach report the following Western Flank 1P reserves at 30 th June 2025: Oil – 4.7 MMboe (40% is attributable to the Company's GOR licences) Gas – 1.2 MMboe (100% is attributable to the Company's GOR licences) Beach report the following Western Flank 2P reserves at 30 th June 2025: Oil – 11.6 MMboe (37% is attributable to the Company's GOR licences) Gas – 1.5 MMboe (100% is attributable to the Company's GOR licences) FY26 Focus Beach are targeting the commencement of a 10-well oil appraisal and development campaign targeting undeveloped McKinlay/Birkhead reserves in the second half of FY26, subject to flood recovery and final approvals. Planned drilling would be across the Bauer, Callawonga, Kalladeina and Snatcher fields. The key focus on operating efficiencies and cost savings before progressing to a Final Investment Decision for the next oil exploration campaign. Newport has a 2.5% Gross Overriding Royalty ("GOR") over permits in the Cooper Basin, Australia, operated by Beach. There is no time limit or expiry date on the GOR assets, and no cost to the Company to retain them. Newport has no control over operating decisions made by Beach. Accordingly, this prevents the Company from commenting on Beach's operating plans going forward. The Company recommends that shareholders and potential investors access material information relevant to the Company as released independently by Beach and Santos Ltd in order to keep current during exploration, development and potential production of all the licences subject to the Company's GOR. The Company receives its GOR from Beach, which is not a reporting issuer in Canada, therefore Newport is not able to confirm if the disclosure satisfies the requirements of NI 51-101 - Standards of Disclosure for Oil and Gas Activities, or other requirements of Canadian securities legislation. The Company currently has 105,579,874 common shares issued and outstanding and approximately $2.5 million in the Treasury (comprised of cash, cash equivalents and short-term investments), and no debt. For further information contact: Ian Rozier, P. Eng (Non-Practising) Director and Chief Executive Officer +1 604 685 6851 [email protected] 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 accuracy or adequacy of this news release. Cautionary Statement on Forward-Looking Information This news release is intended to provide readers with a reasonable basis for assessing the future performance of the Company. The words "believe", "should", "could", "expect", "anticipate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule" and similar expressions identify forward-looking statements. Forward-looking statements may pertain to assumptions regarding the price of oil and fluctuations in currency markets (specifically the Australian dollar) and future dividend payments. Forward-looking statements are based upon a number of estimates and assumptions that, which are considered reasonable by the Company, are inherently subject to business, economic and competitive uncertainties and contingencies. Factors include, but are not limited to, the risk of fluctuations in the assumed prices of oil, the risk of changes in government legislation including the risk of obtaining necessary licences and permits, taxation, controls, regulations and political or economic developments in Canada, Australia or other countries in which the Company carries or may carry on business in the future, risks associated with developmental activities, the speculative nature of exploration and development, and assumed quantities or grades of reserves. Readers are cautioned that forward-looking statements are not guarantees of future performance. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those acknowledged in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws. © 2025 Newport Exploration Ltd.
