Sask. First Nation celebrating settlement with Ottawa over broken treaty promises
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Winnipeg Free Press
2 minutes ago
- Winnipeg Free Press
Takeaways from AP's report on Alaska Natives' response to oil and mining proposals
FAIRBANKS, Alaska (AP) — President Donald Trump's administration and its allies have pushed aggressively for drilling, mining and logging in Alaska. This has intensified long-standing debate over extraction projects in the nation's largest state, particularly within Alaska Native communities. Some view such projects as key to jobs and economic development. Others see them posing environmental risks as they've already faced severe fishing restrictions on the state's longest rivers due to a collapse in the salmon population. Scientists are unsure of the causes of the salmon collapse — which possibly include warming waters and commercial fishing — but opponents of extraction say its possible impacts could be similar in terms of endangering subsistence traditions and food sources. They say this risks, in turn, damaging their sacred connections to the land and to cultural traditions tied to fishing and hunting. How has the administration pushed for extraction projects? Trump signed an executive order on his first day in office in January seeking to 'maximize the development and production of the natural resources' in the state. Congress, in its recent budget bill, authorized an unprecedented four new sales of oil and gas leases in the coastal plain of the Arctic National Wildlife Refuge in northeast Alaska. It also authorized more sales in the National Petroleum Reserve-Alaska in the northern part of the state. Extraction proposals take years to become reality, if ever. Previous lease sales have generated limited interest, and the extent of oil reserves in the Arctic refuge remains uncertain. Members of Trump's Cabinet visited Alaska in June. They called for doubling the amount of oil coursing through its vast pipeline system and building a massive natural gas pipeline as its 'big, beautiful twin.' The administration is also boosting the proposed Ambler Mining District Industrial Access Project, which would include construction of a 200-mile road in wilderness areas and open the way for more mines. Private corporations are pursuing projects, some in collaboration with Alaska Native corporations — which sometimes are in conflict with their Indigenous shareholders — and landowners. One is an oil exploration project in the Yukon Flats. Another is a proposed major gold mine in southwestern Alaska, which would require a massive dam to contain millions of tons of chemical and mineral waste. Project proponents say the dam will be safely built, incorporating the surrounding geology and state-of-the-art design. Trump's policy shifts came even as he removed one of the most prominent Alaska Native names from the official map. He returned the federal name of 'Mount McKinley' to the largest mountain in Alaska and North America. For all their disputes over extraction, Native and Alaska political leaders were largely united in wanting to keep its traditional Athabascan name of Denali, which translates to 'the high one.' What are the views of Alaska Natives favoring such projects? They say the projects can be done safely and bring much-needed jobs and economic development. They say this enables Native communities to fund services while retaining their subsistence hunting, fishing and other cultural traditions. 'We find that balance,' said PJ Simon, first chief of the Allakaket Tribal Council. 'We don't want handouts by the federal government. We want to stand on our own two feet.' Regional and local Native-run corporations, with the mandate of pursuing economic development for the benefit of Native shareholders, are actively involved in extraction proposals. In some cases, they own land and mineral rights in areas eyed for drilling or mining. What about Alaska Natives opposing such projects? They fear large-scale drilling and mining will overwhelm their ancient subsistence traditions. They say any short-term profits will precede a long-term legacy of environmental impacts to rivers, tundra and hunting grounds. 'Our people have been stewards of this land for millennia, and we've taken that relationship seriously because we have to sustain our resources,' said Gloria Simeon of Bethel, a small regional hub in southwestern Alaska, and a member of the environmental advocacy group Mother Kuskokwim Tribal Coalition. Already, tribes are struggling with severe fishing restrictions on their longest rivers, the Yukon and Kuskokwim, because of a collapse in salmon populations, which they have relied on for generations. The salmon collapse has been blamed on such factors as commercial overfishing and climate change. But many fear that extractive industries will create similar and permanent damage to caribou, salmon and other traditional food sources. 'We're already dealing with salmon problems,' said Chief Brian Ridley of the Tanana Chiefs Conference, a Fairbanks-based coalition of Athabascan tribes across Interior Alaska that oppose proposed drilling projects and the Ambler road project. 'The concern is if we start going down this path anywhere along the Yukon or any of the rivers and there's a spill, would that completely eliminate all the salmon stocks?' He said it's not just theoretical. A mine disaster in Canada last year caused a massive release of cyanide-laced debris, which caused fears that contamination might spread. Such a mining accident in the Yukon watershed could 'really take all the gains that we've gotten of trying to get the fish stocks back and really put us back to zero,' Ridley said. Why are subsistence hunting and fishing so important? Alaska Native people have relied for generations on hunting and fishing to survive the brutal winters — and in modern times, as a healthier alternative to expensive groceries. Fish camps and caribou hunts are closely interwoven with cultural traditions, where elders transmit skills and stories to younger generations. 'Protecting the river and the land and the Earth is part of the partnership and the relationship that we have as caregivers,' said Simeon. Who are Alaska Natives? Alaska Natives consist of diverse cultural and language groups in the state, among them the Aleut, Athabascan, Iñupiat, Tlingit and Yup'ik. They widely share a history in the region dating back thousands of years. They also share cultural and spiritual traditions, including those closely associated with subsistence hunting, and a belief in a sacred connection to the land, water and wildlife. Specific practices vary, and many follow both traditional and Christian practices. More than 1 in 5 Alaskans identify as Alaska Native or American Indian alone or in combination with another racial group, the highest ratio of any state, according to 2020 U.S. Census figures. The 1971 Alaska Claims Settlement Act, which resolved long-standing land claims with the federal government, resulted in establishment of regional and local for-profit corporations run by Native leaders for the benefit of Native shareholders. In some cases, such corporations are involved in extraction projects that tribal coalitions from the same area oppose. ___ Associated Press religion coverage receives support through the AP's collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content.
National Post
2 minutes ago
- National Post
Libro Reports 30% Increase in Revenue for the First Half of 2025
Article content MONTREAL — Libro, a leading provider of reservation and guest management solutions for the hospitality industry, reported a 30% increase in revenue for the first half of the year, continuing the company's consistent and impressive growth trajectory. The Company expanded its customer base within Canada and the U.S. adding over 400 new merchant locations, including One Eyed Jack, Sushi Taxi, and most notably, Cora, the iconic Québec breakfast and lunch chain of restaurants. Article content Additionally, Libro has entered into a partnership agreement with U.S.-based Heartland, a Global Payments Company, to provide seamless integration with both Genius for Restaurants and the Global Payments' payment network. With over 750,000 customers using Heartland to provide the financial technology to make money, move money, manage employees, and engage their customers, Libro is proud to be the only Guest Experience and Reservation Platform currently integrated with Genius for Restaurants. Article content Libro debuted generative Artificial Intelligence (AI) features to help restaurant operators customize responses to guest reviews and draft marketing campaigns with minimal effort. Additionally, Libro rolled out its integration with Meta and TripAdvisor, allowing restaurants to incorporate guest reviews from both platforms to gain more online visibility and attract new customers. Article content At the completion of Q2 2025, over 11 million guests have been seated through the Company's platform. Libro's growing appeal and usability in the fine dining category can be reflected in the number of award-winning MICHELIN starred restaurants relying on Libro—including Alentours, Beba, and Tanière³. With a robust pipeline and additional features on the horizon, the Company continues solidifying its position as a leader in restaurant technology solutions. Article content 'Libro is becoming the platform of choice for both independent restaurants and larger hospitality chains that want control over their guest experience and their bottom line,' says Lorne Schwartz, President of Libro. 'The momentum we're gaining with multi-location brands and award-winning restaurants shows that the market is ready for a better, more effective alternative.' Article content Libro is one of North America's leading online guest experience solutions providing restaurants with an affordable, fully branded solution to fill tables, manage reservations, reduce no-shows, engage customers, and elevate the overall guest experience. The company's Software-as-a-Service (SaaS) platform empowers restaurateurs to control the entire online reservation experience, retain all customer information, and eliminate pricey commission models that often come with third-party reservation sites. Headquartered in Montreal, the Libro reservation platform is utilized at locations across Canada, the United States, and Europe. For more information, visit Article content Article content Article content
National Post
2 minutes ago
- National Post
Mogo Reports Positive Net Income and Strong Growth in Wealth and Payments in Q2 2025
Article content Article content Book Value of $81.6 Million ($3.41 per Share) as of Q2 2025 Article content Mogo reports in Canadian dollars and in accordance with IFRS Article content VANCOUVER, British Columbia — Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) ('Mogo' or the 'Company'), a digital wealth and payments business, today announced its financial and operational results for the second quarter ended June 30, 2025. Article content 'We continued to strengthen and expand our Intelligent Investing wealth platform during the second quarter,' said David Feller, Founder & CEO. 'The growth we're seeing reflects a shift in investor behavior – a growing preference for long-term discipline over short-term speculation. Our platform is designed to meet that shift head-on.' Article content 'We also began moving forward with our plan to enable crypto trading alongside equities,' added Feller. 'If approved, Mogo would become one of only two companies in Canada authorized to offer both asset classes through a single, integrated, regulated platform. This is not just a product expansion, it's the foundation for a structural moat.' Article content 'This was one of our strongest quarters ever; profitable, cash-flow positive, and increasingly aligned with our long-term capital strategy,' said Greg Feller, President & CFO. 'We began our Bitcoin treasury strategy in 2024, and in Q2 we expanded both its scale and strategic focus. Following the quarter, we increased our bitcoin holdings using proceeds from the approximately $14 million partial monetization of our WonderFi position. That's a real-time example of our dual-compounding strategy at work: combining long-term operational growth with strategic capital appreciation. With our remaining investment portfolio and our growing Bitcoin reserve, this approach is becoming a core pillar of our long-term shareholder value creation strategy.' Article content Growth in Core Business Article content Wealth Revenue increased 48% year-over-year. Payments Revenue increased 23% year-over-year. Adjusted Subscription & Services Revenue 4 growth accelerated to 13% year-over-year, up from 10% in Q1 2025. Rule of 40 5 (Adjusted Subscription & Services Revenue): 24.4 (13% growth + 11.4% margin), up from 16.4 in Q1 2025. Gross Profit of $12.2 million in Q2 2025, up from $11.8 million in Q2 2024. Gross margin expanded to 72.0% from 67.0%. Article content Strong Profitability and Cash Flow Article content Net Income of $13.5 million, driven by mark-to-market gains including $12.7 million from the revaluation of Mogo's WonderFi position, following the announced acquisition of WonderFi by Robinhood. Adjusted EBITDA 1 of $1.9 million (11.4% margin), up from $1.1 million in Q1 2025 and $1.4 million in Q2 2024. Operating Cash Flow of $0.9 million; $6.2 million before investment in loan receivables 1. Article content Platform and Member Growth Article content Total Members of 2.25 million, up 5% year-over-year. Assets Under Management reached a record $462 million, up 18% year-over-year. Article content Balance Sheet and Capital Position Article content Capital Allocation Strategy Article content Mogo's capital allocation strategy is focused on long-term shareholder value through disciplined operating reinvestment, opportunistic buybacks, and the strategic use of Bitcoin as a reserve asset. Bitcoin Treasury Strategy In July 2025, Mogo's board of directors approved a strategic initiative authorizing up to $50 million in Bitcoin allocations, reinforcing Mogo's conviction in Bitcoin as a long-term reserve asset and capital benchmark. This will be funded through excess cash and monetization of investments over time while maintaining operational liquidity. In June 2025, Mogo invested $1.0 million in Bitcoin ETFs and invested an additional $1.4 million in Bitcoin ETFs post quarter-end, further advancing its dual-compounding strategy that combines operating scale with a high-conviction Bitcoin reserve. Share Repurchase and Liquidity Management In Q2 2025, Mogo repurchased 523,091 shares (~2% of outstanding shares). Since June 2022, 1.64 million shares have been repurchased, representing 6.9% of current outstanding shares. Strategic Investments and Infrastructure In July 2025, Mogo acquired a 9% stake ($1.0 million) in Digital Commodities Capital Corp., a public issuer focused on Bitcoin and physical gold reserves. In July 2025, Mogo announced Bitcoin integration development across product lines: Operating and Regulatory Milestones Carta processed $2.8 billion in payments volume in Q2 2025, consistent with Q2 2024. Excluding the exited Canadian market, European payment volume increased 15% year-over-year, reflecting solid growth across core client accounts. In July, Mogo announced that it is seeking regulatory approval to offer crypto trading on its platform. This step marks a structural expansion of Mogo's evolution into an integrated, multi-asset investing platform. Strategic Transactions • In May 2025, Mogo's portfolio company WonderFi entered into a definitive agreement to be acquired by Robinhood. The transaction is expected to close in the second half of 2025. Article content Financial Outlook Article content Mogo reiterated its full-year financial guidance as previously communicated with its year-end results on March 20, 2025. Article content Outlook made by Mogo, constitutes forward-looking information within the meaning of applicable securities laws, and is based on a number of assumptions and subject to a number of risks. Actual results could vary materially as a result of numerous factors, including certain risk factors, many of which are beyond Mogo's control. Please see 'Forward-looking Statements' below for more information. Article content 1 Non-IFRS measure. For more information regarding our use of these non-IFRS measures and, where applicable, a reconciliation to the most comparable IFRS measure, see 'Non-IFRS Financial Measures' in the Company's MD&A for the period ended June 30, 2025. Article content 2 Includes cash and cash equivalents and restricted cash. Article content 5 Rule of 40 score is calculated by adding adjusted subscription and services revenue growth and adjusted EBITDA margin. Article content Conference Call & Webcast Article content Mogo will host a conference call to discuss its Q2 2025 financial results at 3:00 p.m. ET on August 7, 2025. The call will be hosted by David Feller, Founder and CEO, and Greg Feller, President and CFO. To participate in the call, dial (289) 514-5100 or (800) 717-1738 (International) using conference ID: 59110. The webcast can be accessed at Listeners should access the webcast or call 10-15 minutes before the start time to ensure they are connected. Article content Non-IFRS Financial Measures Article content This press release makes reference to certain non-IFRS financial measures. These measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. These measures are provided as additional information to complement the IFRS financial measures contained herein by providing further metrics to understand the Company's results of operations from management's perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. We use non-IFRS financial measures, including Adjusted EBITDA, Adjusted net loss and Cash provided by (used in) operating activities before investment in gross loans receivable, to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures. Our management also uses non-IFRS financial measures in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess our ability to meet our capital expenditure and working capital requirements. For more information, please see 'Non-IFRS Financial Measures' in our Management's Discussion and Analysis for the period ended June 30, 2025, which is available at Article content This news release contains 'forward-looking statements' within the meaning of applicable securities legislation, including statements regarding the Company's plans to launch crypto trading, the plans to apply for regulatory approval in respect of crypto trading and any receipt of such approval, Mogo's capital allocation strategy, Mogo's strategic initiatives in respect of its wealth management and the integration of cryptocurrency in respect thereof. Forward-looking statements are typically identified by words such as 'may', 'will', 'could', 'would', 'anticipate', 'believe', 'expect', 'intend', 'potential', 'estimate', 'budget', 'scheduled', 'plans', 'planned', 'forecasts', 'goals' and similar expressions. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at the time of preparation, are inherently subject to significant business, economic and competitive uncertainties and contingencies, and may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Mogo's growth, its ability to expand into new products and markets and its expectations for its future financial performance are subject to a number of conditions, many of which are outside of Mogo's control, including the receipt of any required regulatory approval. For a description of the risks associated with Mogo's business please refer to the 'Risk Factors' section of Mogo's current annual information form, which is available at Article content Article content and Article content Article content . Except as required by law, Mogo disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Article content About Mogo Article content Mogo Inc. Article content (NASDAQ:MOGO; TSX:MOGO) is on a mission to build the future of intelligent finance, empowering consumers to grow wealth through a suite of innovative financial products and a capital strategy anchored by Bitcoin. The company's platform combines digital wealth management and lending with a growing commitment to hard asset capital allocation. Mogo is publicly listed on the NASDAQ and TSX. Article content Article content Article content Article content Contacts Article content Investor Relations investors@ US Investor Relations Contact Lytham Partners, LLC Ben Shamsian New York | Phoenix shamsian@ (646) 829-9701 Article content Article content Article content
