Auto Tariffs Stoke Layoff Angst in Canada's Once-Proud Motor City
Lines form early outside the food bank on Simcoe Street where customers load strollers with pasta and bags of bread. Homeless encampments dot the river trail. Inside local food joints like Ciao Amici, a lunch stop serving Italian specialties, conversations drift toward layoffs. On that front, there's a lot to talk about.
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Yahoo
23 minutes ago
- Yahoo
South Star Announces Closing of First Tranche of Private Placement, Extension and US$450,000 of Bridge Loans
VANCOUVER, British Columbia, Aug. 06, 2025 (GLOBE NEWSWIRE) -- South Star Battery Metals Corp. ('South Star' or the 'Company') (TSXV: STS) (OTCQB: STSBF), is pleased to announce that it that it has successfully completed an initial tranche of its non-brokered private placement (the 'Private Placement') of units (the 'Units') for gross proceeds of US$302,610 (CA$415,263.45). Proceeds from the Private Placement will be used for development and production, as well as corporate general working capital requirements. Additionally, the TSX Venture Exchange (the 'TSXV') has granted an extension to the closing time of the Private Placement. The extended date for final acceptance of the Private Placement is now August 22, 2025. Tranche 1 of the Private Placement consists of issuing 1,375,500 Units consisting of a common share priced at US$0.22 (CA$0.3019) and 1,375,500 common share purchase warrants. Each warrant is exercisable into one common share at a price of US$0.22 (CA$0.3019) for 5 years from the date of issue (the 'Warrants'). The Units issued pursuant to the Private Placement will be subject to a four-month hold period. Closing of the Private Placement is subject to customary closing conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. In connection with the Private Placement, the Company paid finder's fees of $4,296.60 and issued 19,530 non-transferable finder's warrants. Each finder's warrant is exercisable into one common share at a price of US$0.22 (CA$0.3019 for 5 years from the date of issue (the 'Finder's Warrants'). The Warrants and Finder's Warrants include an acceleration clause whereby, if at any time after the four-month hold period and before expiry, the daily volume-weighted average price of the Common Shares on the Exchange (or other principal exchange) equals or exceeds C$1.25 for ten (10) consecutive trading days, the Company may provide notice that all unexercised Warrants will expire 30 days after such notice. An Insider of the Company participated in the Private Placement for an aggregate amount of US$220,000 for 1,000,000 Units. The transaction with the insider constitutes a 'related party transaction' as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ('MI 61-101'). The Company is relying on the exemptions under section 5.5(a) and section 5.7(1)(a) from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of the Units issued to the related party and the consideration paid by the related party under the Private Placement does not exceed 25% of Company's market capitalization, as determined in accordance with MI 61-101. Furthermore, South Star announces that is has received bridge loans for gross proceeds of US$450,000. The bridge loans are intended to provide short term funding while the Company pursues closing the subsequent tranche of the private placement, as previously announced by the Company on July 3, 2025. The bridge loans are evidenced by unsecured promissory notes (the 'Notes'), which bear interest at 1% per month (12% per annum, compounded monthly) and mature on January 7, 2026 (the 'Maturity Date'), unless repaid earlier in accordance with their terms. The Company may prepay the Notes at any time without penalty. The Notes are subject to acceleration upon certain conditions, including the completion of subsequent debt financing of at least US$500,000 or equity financings totaling at least US$3,000,000 during the term. Upon acceleration, all outstanding principal and accrued interest become payable within 15 days of the applicable financing. Proceeds from the Notes will be used for general working capital purposes. US$450,000 of the bridge funding was provided by directors and officers of the Company, and accordingly the bridge loans constitute a "related party transaction" under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ('MI 61-101'). The Company is relying on exemptions from formal valuation and minority shareholder approval requirements under sections 5.5(a) and 5.7(1)(f) of MI 61-101, respectively, as the fair market value of the transaction does not exceed 25% of the Company's market capitalization, the Notes were provided on reasonable commercial terms and the transaction does not involve equity or voting securities. No finders' fees were paid in connection with the issuance of the Notes. The Notes are subject to approval by the TSX Venture Exchange (the 'Exchange'). This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the '') 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 SOUTH STAR BATTERY METALS CORP. South Star is a Canadian battery-metals project developer focused on the selective acquisition and development of near-term production projects in the Americas. South Star's Santa Cruz Graphite Project, located in Southern Bahia, Brazil is the first of a series of industrial- and battery-metals projects that will be put into production. Brazil is the second-largest graphite- producing region in the world with more than 80 years of continuous mining. Santa Cruz has at-surface mineralization in friable materials, and successful large-scale pilot-plant testing (> 30 tonnes) has been completed. The results of the testing show that approximately 65% of graphite concentrate is +80 mesh with good recoveries and 95%-99% graphitic carbon (Cg). With excellent infrastructure and logistics, South Star Phase 1 is ramping up commercial production with first sales shipped in May 2025. Santa Cruz is the first new graphite production in the Americas since 1996. South Star's second project in the development pipeline is strategically located in Alabama, U.S.A. in the center of a developing electric-vehicle, aerospace, and defense hub in the southeastern United States. The BamaStar Project includes a historic mine active during the First and Second World Wars. The vertically integrated production facilities include a mine and industrial concentrator in Coosa County, AL and a downstream value-add plant in Mobile, AL, which will be upgrading natural flake graphite concentrates from both Santa Cruz and BamaStar mines. A NI 43-101 Preliminary Economic Assessment demonstrates strong economic results with a pre-tax Net Present Value ("NPV8%") of US$2.4B and an Internal Rate of Return ("IRR") of 35%, as well as an after-tax NPV8% US$1.6B with an IRR of 27%. South Star has also received US$3.2 million grant commitment from the US Department of Defense Title III program to advance a feasibility study on the Bamastar project. South Star trades on the TSX Venture Exchange under the symbol STS, and on the OTCQB under the symbol STSBF. South Star is committed to a corporate culture, project execution plan and safe operations that embrace the highest standards of ESG principles, based on transparency, stakeholder engagement, ongoing education, and stewardship. To learn more, please visit the Company website at This news release has been reviewed and approved for South Star by Richard Pearce, P.E., a 'Qualified Person' under National Instrument 43-101 and President and CEO of South Star Battery Metals Corp On behalf of the South Star Board of Directors, MR. RICHARD L. PEARCE,President & Chief Executive Officer For additional information, please contact: South Star Investor Relations South Star Investor Relations Email: invest@ Phone: +1 (604) 706-0212 Website: Twitter: Facebook: LinkedIn: YouTube: South Star Battery Metals – YouTube CAUTIONARY STATEMENT Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release. FORWARD-LOOKING INFORMATION This press release contains 'forward-looking statements' within the meaning of applicable securities legislation. Forward- looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be 'forward -looking statements'. Forward-looking statements in this press release include, but are not limited to, statements regarding the issuance and terms of the promissory notes, including the proposed use of proceeds, anticipated repayment or prepayment, the potential for acceleration in connection with future financings, and the receipt of regulatory approvals; the Private Placement, including its expected closing, use of proceeds, and the potential acceleration of Warrants and Finder's Warrants; the commencement of production at the Santa Cruz Project; the scaling of operations; the advancement of the Alabama project; and the Company's overall strategy, plans, and future expectations. 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, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or 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
Forbes
25 minutes ago
- Forbes
Don't Miss Out: Earn 5,000 Aeroplan Points With Chase Sapphire Reserve Through August 18
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. The list of perks is growing for Chase Sapphire Reserve® cardholders. Cardholders can qualify for an Air Canada Aeroplan certificate and use the benefit to reduce the cost of their fare. Reserve cardholders will need to act fast, as the offer is only available through August 18. Chase Sapphire Reserve® cardholders automatically earn a 5,000-point Aeroplan certificate from Air Canada, eligible for redemption toward any cabin fare, when they register from August 5 to August 18. Earn 100,000 bonus points + $500 Chase Travel℠ promo credit after you spend $5,000 on purchases in the first 3 months from account opening. Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed. The offer is only available for the primary cardholder, not authorized users, with one certificate available per account. The certificate expires 365 days after it is deposited into the account, and it may take up to 14 days to appear in the Aeroplan account. The points may only be used toward new and direct bookings with the airline and can't be applied to current reservations. The value may not be split between multiple passengers. The certificate can't be transferred to other Aeroplan accounts, but cardholders can redeem the Aeroplan points to book travel for other passengers if they so desire. There are no restrictions on using the points only toward Air Canada flights, so the certificate may be redeemed on partner airlines as well. The certificate is redeemable toward award fares, meaning that a 10,000-point flight will be reduced to 5,000 with the certificate. Aeroplan regularly doles out its short-haul economy flights under 500 miles with partners like United Airlines starting at 6,000 points, making the flights just 1,000 points after redemption. Sapphire Reserve cardholders can make up the difference by transferring their Chase Ultimate Rewards points to Aeroplan at a 1:1 ratio. Should you need to cancel or change your award flight after redemption, the points will be returned to your account with their original expiration date. To sweeten the deal, Sapphire Reserve cardholders and authorized users can kick their heels back at select Air Canada Maple Leaf Lounges and Air Canada Cafés with one complimentary guest when flying on any Star Alliance carrier. Cardmembers must show their Sapphire Reserve card to enter, as well as an eligible departing same-day boarding pass on any Star Alliance member airline for themselves and each guest. It's a no-brainer if you plan on flying with the certificate redemption. Note that lounge access is not available for Chase Sapphire Reserve for Business℠ cardholders. Those who don't hold the Chase Sapphire Reserve® still have time to apply for the hefty travel card. Chase is currently offering a welcome bonus of 100,000 bonus points, plus a $500 Chase Travel℠ promo credit after spending $5,000 on purchases in the first three months from account opening. While the card recently saw a jump in its annual fee, from $550 to $795, the welcome offer provides immense value and can help offset the $245 increase. The card's $500 Chase Travel promo credit, coupled with the welcome bonus points, is enough to make the card worthwhile for any serious traveler, clocking in with a value of at least $1,500 in total travel. When booking select flights through Chase Travel℠ with a Sapphire Reserve card, points can be worth up to 2x when redeemed, thanks to Chase's Points Boost system, making the welcome bonus potentially doubly lucrative. Read more: Revamped Chase Sapphire Reserve: New Benefits And A 100k Point Bonus
Washington Post
25 minutes ago
- Washington Post
McEwen: Q2 Earnings Snapshot
TORONTO — TORONTO — McEwen Inc. (MUX) on Wednesday reported profit of $3 million in its second quarter. On a per-share basis, the Toronto-based company said it had net income of 6 cents. The gold and silver mining company posted revenue of $46.7 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on MUX at
