Barrick Gold Proposes Name Change to Reflect Its Copper Push
Barrick Gold Corp., the world's No. 2 gold producer, has proposed dropping 'gold' from its name as it expand its copper mining operations.
'We are proposing to change our name from Barrick Gold Corporation to Barrick Mining Corporation, to reflect the company's changing production profile,' the Canadian company said in a press release on Friday.
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Montfort Capital Announces First Quarter 2025 Financial Results and CFO Transition
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Financial Highlights Financial Highlights Three months endedMarch 31, 2025 Three months endedMarch 31, 2024 Revenue $ 713,694 $ 1,037,594 Expenses 1,899,4952,539,930 Net income loss from continuing operations (1,114,624)(1,455,342) Net loss from discontinued operations (3,817,603)(703,730) Basic and diluted loss per common share: from continuing operations (0.01)(0.02) from discontinued operations (0.04)(0.01) As at March 31, 2025 As at December 31, 2024 Loans receivable - net of allowance $ 189,297,041 $ 189,538,678 For the three months ended March 31, 2025, the Company delivered the following results: Loans receivable - net of allowance as at March 31, 2025 was flat compared to the balance at December 31, 2024, as loan growth in the Langhaus and Nuvo businesses was offset by a decline in the Pivot loan book. Total revenue decreased by $0.3 million or 31% compared to Q1 2024, primarily reflecting lower transaction fee income generated by the Pivot business. Total expenses decreased by $0.6 million or 25% compared to Q1 2024, as management's effort to improve operating efficiency has resulted in reduced staffing and other overhead costs. The net loss from continuing operations for the quarter was $1.1 million compared to a net loss of $1.5 million in Q1 2024, mainly reflecting the savings in operating expenses. The net loss from discontinued operations increased $3.1 million or 442% to $3.8 million compared to Q1 2024, driven by expected credit loss provisions in the Brightpath mortgage business that was sold subsequent to period end. "Our efforts to streamline operating expenses were evident this quarter as we saw a 25% reduction on a year over year basis" said Ken Thomson, CEO of Montfort. "As our core business units continue to grow and we make ongoing refinements to our cost structure, we are positioning our platform for sustainable future growth." CFO Transition Montfort also announced the upcoming departure of Mr. Josh Reusing, Chief Financial Officer for the Company. Mr. Reusing will be replaced by Mr. Sam Hall, effective June 20, 2025. "We'd like to thank Josh for his efforts in the CFO role during a challenging transition period for the Company and wish him well in his future endeavours" said Ken Thomson, CEO of Montfort. "We are also pleased to welcome Sam to the CFO position. Already a trusted senior leader at Montfort, Sam will now play an increased role in guiding the overall growth of the Company." This news release is qualified in its entirety by the Company's financial statements for the three months ended March 31, 2025 and the associated Management's Discussion & Analysis, which can be downloaded from the Company's profile on SEDAR+ at About Montfort Capital Corp. Montfort builds and manages private credit portfolios that have focused investing strategies for the institutional and accredited investors markets. 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Discontinued Operations The Brightpath business was sold subsequent to year end on April 2, 2025. Brightpath is a registered mortgage brokerage and mortgage administrator, administering a portfolio of first and second mortgages secured by residential properties.. As at December 31, 2024, the assets and liabilities of Brightpath are classified as held for sale and the operating results are included under discontinued operations. The TIMIA business unit was sold on November 1, 2024 and its operating results are included in discontinued operations. TIMIA originated, underwrote and serviced private-market loans in the technology space. TIMIA offered revenue-based investment to fast growing, business-to-business recurring revenue software businesses in North America. 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 news release. Forward-Looking Information Certain statements contained in this press release constitute "forward-looking information" and "forward-looking statements", collectively "forward looking statements". All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "designed", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These forward-looking statements include, but are not limited to: projected timing of profitability of the Company; growth of the Company's existing businesses; and the Company's ability to continue to operate as a going concern. This forward-looking information is based on a number of material factors and assumptions including, but not limited to: stable interest rates and financing costs remaining consistent with current market conditions; no material adverse changes in general economic conditions in key markets; competitive positioning remaining stable in the Company's target markets; Montfort retaining key personnel responsible for client acquisition and relationship management; stability in the competitive landscape of the Company's businesses with no disruptive new market entrants; credit spreads in private lending markets remaining consistent with current market conditions; no significant changes in asset valuations that would impact collateral values; continued demand for private credit; maintenance of current underwriting standards and loan approval processes; no material changes in loan origination channels or referral networks; continued effectiveness of the Company's credit risk assessment methodologies; ability to maintain current loan servicing capabilities and operational efficiencies; ability to maintain relationships with key capital providers, co-lenders and financial partners; and availability of external financing at reasonable rates These assumptions should be considered carefully by readers. The forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements. These risks and uncertainties include, but are not limited to: lower than expected revenue growth in the Company's core business segments; potential for increased competition that could compress profit margins; possibility of higher operating costs than forecasted; risk of economic downturn affecting demand for the Company's services; unforeseen regulatory changes impacting the Company's business model and/or cost structure; delays in realizing anticipated cost synergies or operational efficiencies; risk of market saturation limiting organic growth opportunities; failure to successfully execute planned expansion initiatives; possibility of increased competition in target markets; inability to attract or retain key talent needed for growth; technological changes that could disrupt existing business models; customer acquisition costs increasing beyond projected levels; and the Company being unable to continue as a going concern due to its inability to procure additional liquidity and / or financing on reasonable terms. We do not undertake to update any forward-looking information, except as, and to the extent required by, applicable securities laws. Based on current available information, the Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that those expectations will prove to be correct. The forward-looking statements in this press release are expressly qualified by this statement, and readers are advised not to place undue reliance on the forward-looking statements. SOURCE Montfort Capital Corp. View original content to download multimedia: Sign in to access your portfolio
Business Upturn
an hour ago
- Business Upturn
CEA Industries Posts Updated Investor Presentation
By GlobeNewswire Published on June 12, 2025, 01:35 IST Conference Call Scheduled for Today, June 11, 2025 at 4:30pm ET CEA Industries to Provide Business Update and Discuss Strategic Implications of Fat Panda Acquisition Louisville, Colorado, June 11, 2025 (GLOBE NEWSWIRE) — CEA Industries Inc. (NASDAQ: CEAD, CEADW) ('CEA Industries' or the 'Company'), today announced that it has published an updated investor presentation, now available on the Investor Relations section of its website. Management will host a live conference call today, June 11, 2025, at 4:30pm ET to outline the Company's new strategic priorities, including the recent acquisition of Fat Panda and the go-forward strategy to accelerate growth and enhance shareholder value. To access the conference call, please use the following information: CEA Industries management may utilize this presentation during upcoming meetings with analysts and investors. The posting of this presentation is being made pursuant to Regulation FD. About CEA Industries Inc. CEA Industries Inc. (NASDAQ: CEAD) is a growth-oriented company focused on building category-leading businesses in regulated consumer markets. With a focus on the high-growth, Canadian nicotine vape industry, one of the fastest-expanding segments of the global nicotine market, CEA Industries targets scalable operators with strong regulatory alignment, defensible market share, and high-margin business models. The Company provides capital, operational expertise, and strategic resources to accelerate retail expansion, strengthen e-commerce infrastructure, and drive long-term value creation in performance-driven sectors. For more information, visit Investor Contact: Sean Mansouri, CFA or Aaron D'SouzaElevate IR [email protected] (720) 330-2829 Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
3 hours ago
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Business leader says BC Ferries' hiring of Chinese shipyard is 'informed decision'
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