CARRINGTON GROUP OF COMPANIES IS A WINNER OF THE CANADA'S BEST MANAGED COMPANIES GOLD DESIGNATION FOR 2025
EDMONTON, AB, May 15, 2025 /CNW/ - Carrington Group of Companies is honoured to be recognized as a gold winner of one of Canada's Best Managed Companies for 2025. Now in its 32nd year, the list recognizes privately owned and managed Canadian companies. This year's 494 recipients demonstrate outstanding achievements in strategic business transformation and operational resilience, positively impacting their workforce and communities, and driving economic growth.
As a proud Canadian family owned and operated company, Carrington Group of Companies has grown over 52 years to design, build and manage each development using an innovative approach, incorporating the latest technology and trends to deliver unsurpassed quality, service, affordability, and create lasting value for our customers. Our continuous investment in process improvement, collaboration and team development allows us to pivot as market and customer demands evolve.
"This achievement is a testament to our remarkable staff and trade partners who we work with daily," said Jason Theiss, CFO, Carrington Group of Companies. "We are honoured to be recognized for the fourth straight year of this prestigious business award. This recognition is a reflection of our wonderful team and our commitment to develop and maintain good long term business relationships that has allowed us to be recognized as one of Canada's Best Managed Companies for 2025. We share this recognition with all our employees and trade partners."
"Over the 32-year history of these awards, Canadian companies have shown resilience and adaptability through economic highs and lows, and this year is no different," said Lorrie King, national co-leader of Canada's Best Managed Companies program and partner with Deloitte Private. "We are honoured to recognize this year's Best Managed Companies across Canada, who excel in all aspects of their business. These companies all help drive Canada's productivity and innovation, which bolsters our economy, so it's important to recognize their accomplishments and showcase them as examples and inspiration to the broader business community."
These Best Managed Companies employ more than 556,000 people across the nation and achieved total sales of over $221,000,000,000 in the previous year, operating across a diverse range of industries, including consumer, energy, resources and industrials, financial services, technology, media, and telecommunications, life sciences and health care, and education, among others. Notably, 274 of the 494 companies are family-owned, underscoring the entrepreneurial spirit in Canada.
"We are honoured to support Canada's Best Managed Companies and the exceptional leaders who drive innovation and growth in their industries and local communities," said Blair Cowan, Executive Vice President, Commercial Banking at CIBC. "Together, we are fostering a vibrant business environment that encourages excellence and inspires future generations of entrepreneurs."
About Canada's Best Managed Companies
Canada's Best Managed Companies continues to be the mark of excellence for private Canadian-owned and managed companies. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on four levels: 1) Canada's Best Managed Companies new winner, one of the new winners selected each year; 2) Canada's Best Managed Companies winner, award recipients that have re-applied and successfully retained their Best Managed designation for two additional years, subject to annual operational and financial review; 3) Gold Standard winner, after three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully retained their award for 4-6 consecutive years; 4) Platinum Club member, winners that have maintained their Best Managed status for seven years or more. Program sponsors are Deloitte Private, CIBC, The Globe and Mail, and TMX Group. For more information, visit www.bestmanagedcompanies.ca.
About Carrington Group of Companies
Founded by Ken Ferchoff in 1973, he set out to build quality and affordable homes, and since then Carrington Group of Companies has grown to be a top, award-winning residential builder and developer in Western Canada. The original purchaser of Ken's first built home still resides there 50 years later, a true testament to Ken's commitment to building exceptional homes.
Our family-owned and operated company focuses on key facets of our industry to offer our clients housing throughout their entire life journey – single-family housing, multi-family housing, rental, retirement, and land.
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Cision Canada
27 minutes ago
- Cision Canada
Highly successful raising leaves FireFly with $135m to fund multi-pronged growth strategy
Proceeds from the raising to be used to accelerate exploration campaign with seven rigs to drive rapid value by increasing and upgrading the Mineral Resource while conducting mining studies FireFly has received firm commitments totalling approximately A$95m (before costs) via a charity flow-through offering, two-tranche institutional placement, and Canadian bought deal financing FireFly also intends to undertake a non-underwritten Share Purchase Plan to raise up to an additional A$5m (before costs) at the same offer price as the two-tranche institutional placement FireFly will receive an average price of A$1 per share in the raising, representing a discount of just 2.9% to the last sale price, after allowing for the Canadian flow-through premium PERTH, Australia, June 9, 2025 /CNW/ - FireFly Metals Ltd (ASX: FFM) (TSX: FFM) (FireFly or Company) is pleased to announce a highly successful equity raising which ensures the Company is set for substantial ongoing growth through its Green Bay Copper-Gold Project in Canada. FireFly has received firm commitments to raise up to ~A$95 million (before costs) by the issue of up to approximately 94.7 million fully paid ordinary shares in the Company (New Shares) under the Equity Raising (defined below). By utilising the Canadian flow-through provisions, the Company will receive an average price of A$1 per New Share, which is a discount of just 2.9% to the last sale price. FireFly Managing Director Steve Parsons said: "The overwhelming demand for the raising reflects the quality and growth outlook at Green Bay, our commitment to a multi-rig exploration campaign and the demand among global investors for top-shelf copper-gold projects. "The combination of the exceptional Green Bay asset, our proven exploration team and our A$135m cash war chest is the ideal recipe for growth. "This outlook is further enhanced by the shortage of such outstanding projects which can meet investors' surging appetite for copper-gold exposure". Equity Raising Details The equity raising will be completed in three parts (together, the Equity Raising), comprising: ~A$11.2 million (~C$10.0 million) charity flow-through placement to Canadian investors priced at approximately A$1.49 per New Share, which represents a 44.6% premium to FireFly's last closing price on Wednesday, 4 June 2025, and a 55.0% premium to the offer price under the Institutional Placement of A$0.96 per New Share (Charity Flow-Through Placement); ~A$54.9 million two-tranche institutional placement at the offer price of A$0.96 per New Share, which represents a 6.8% discount to FireFly's last closing price and a 7.2% discount to FireFly's 10-day volume weighted average price up to and including Wednesday, 4 June 2025 (Institutional Placement); and ~A$28.8 million (~C$25.8 million) fully underwritten Canadian bought deal offering with BMO Capital Markets. Concurrently with the Equity Raising, FireFly is also offering Eligible Shareholders (defined below) the opportunity to participate in a non-underwritten Share Purchase Plan (SPP) to raise up to an additional A$5,000,000 before costs (with the ability to accept oversubscriptions, at the discretion of the Company). Charity Flow-Through Placement The Company has received firm commitments under the Charity Flow-Through Placement to raise approximately C$10.0 million (~A$11.2 million) 1, before costs, through the issue of approximately 7.6 million New Shares at an issue price of approximately C$1.32 (A$1.49) per New Share (Flow-Through Shares) to be issued as Canadian "flow-through shares", which provide tax incentives to those investors for certain exploration expenditures that qualify under the Income Tax Act (Canada). Pursuant to a block trade agreement between PearTree Securities Inc. (PearTree) and Canaccord Genuity (Australia) Limited (Canaccord Genuity), Canaccord Genuity will facilitate the secondary sale of the Flow-Through Shares acquired by PearTree clients under the Charity Flow-Through Placement to sophisticated and professional investors by way of a block trade at A$0.96 per Flow-Through Share. The tax benefits associated with the Flow-Through Shares are available only to the initial investors (who are Canadian residents) and not to any other person who acquires the Flow-Through Shares through the on-sale or transfer of those Flow-Through Shares. _______________________________ 1 Based on an implied exchange rate of 0.8890. The Flow-Through Shares will be issued under the Company's existing placement capacity under ASX Listing Rule 7.1. Settlement of the New Shares under the Charity Flow-Through Placement is expected to occur on 13 June 2025 (followed by the block trade). The Flow-Through Shares will rank equally with the Company's existing ordinary shares on issue. A transaction specific prospectus under section 713 of the Corporations Act 2001 (Cth) (Corporations Act) will be issued in connection with the Charity Flow-Through Placement to facilitate secondary trading of the New Shares the subject of the Charity Flow-Through Placement. The Charity Flow-Through Placement has been facilitated by Canadian flow-through share exempt market dealer, PearTree, pursuant to a subscription and renunciation agreement with the Company. PearTree will not receive any fees or commission from the Company for its role with respect to the Charity Flow-Through Placement. Institutional Placement The Company has received firm commitments from sophisticated and professional investors under the Institutional Placement to raise approximately A$54.9 million (before costs) through the issue of approximately 57.2 million New Shares at an issue price of A$0.96 per New Share (Placement Shares). The Institutional Placement consists of approximately: 28.1 million New Shares to be issued under FireFly's existing placement capacity under ASX Listing Rule 7.1 to raise approximately A$26.9 million (before costs) (T1 Placement Shares); and 29.2 million New Shares to raise approximately A$28.0 million (before costs), subject to receipt of shareholder approval at a general meeting expected to be held in mid-July 2025 (T2 Placement Shares). Settlement of the T1 Placement Shares is expected to occur on or around Friday, 13 June 2025. Canadian Bought Deal Financing FireFly has entered into an agreement with BMO Nesbitt Burns Inc. (BMO), pursuant to which BMO has agreed to purchase, on a bought deal basis, 30,000,000 New Shares at a price of C$0.86 (A$0.96) per New Share for gross proceeds of C$25.8 million (approximately A$28.8 million) 2 (the Canadian Offering). The Company has also granted BMO an option, exercisable at the offering price (i.e. C$0.86 per New Share) for a period of 30 days following the closing of the Canadian Offering, to purchase up to an additional 3,000,000 New Shares to cover over-allotments, if any, and for market stabilization purposes. ______________________________ 2 Based on an implied exchange rate of 0.8958. The New Shares under the Canadian Offering are being offered in Canada by way of a short form prospectus in all of the provinces of Canada, except Quebec, and by way of private placement in the United States and offshore jurisdictions in accordance with applicable laws. The Canadian Offering is expected to close on or about 20 June 2025 and is subject to the Company receiving all necessary regulatory approvals. The New Shares the subject of the Canadian Offering will be issued under the Company's existing placement capacity under ASX Listing Rule 7.1. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Share Purchase Plan The Company is offering shareholders who were registered as a holder of Shares as at 5.00pm (AWST) on 4 June 2025 (Record Date) and whose registered address is in Australia or New Zealand (Eligible Shareholders) the opportunity to subscribe for a maximum of A$30,000 worth of fully paid ordinary shares in the Company (SPP Shares) at an issue price of A$0.96 per SPP Share (being the same price as the Institutional Placement), to raise up to A$5.0 million (before costs) under the SPP. The Company reserves the right to take oversubscriptions in accordance with the ASX Listing Rules and the Corporations Act. An SPP booklet containing further information in relation to the SPP, including the scale-back policy and other terms and conditions, is expected to be released on ASX and dispatched to Eligible Shareholders on or around 16 June 2025. Use of Funds The net proceeds of the Equity Raising and SPP will be primarily used for expenditure at the Green Bay Copper-Gold Project including underground development, Resource extension and infill drilling, regional and near mine exploration and drill testing, pre-construction and study works. The net proceeds will also be used for transaction costs and working capital. Advisers Canaccord Genuity is acting as Sole Lead Manager and Bookrunner to the Institutional Placement, and on the block trade component of the Charity Flow-Through Placement. Euroz Hartleys Limited and Argonaut Securities Pty Ltd are acting as Co-Managers to the Institutional Placement. BMO Capital Markets is acting as Sole Underwriter and Bookrunner to the Canadian Offering. Hamilton Locke is acting as Australian legal advisor to the Company and Osler, Hoskin & Harcourt LLP is acting as Canadian legal advisor to the Company. This announcement has been authorised by the Board of Directors. Indicative Timetable Key Event Date Trading halt lifted and trading resumes Tuesday, 10 June 2025 DvP Settlement of T1 Placement Shares issued under the Institutional Placement Friday, 13 June 2025 Settlement, Allotment and Trading of New Shares issued under the Charity Flow-Through Placement Friday, 13 June 2025 DvP Allotment and normal trading of T1 Placement Shares issued under the Institutional Placement Lodgement of SPP Offer booklet and SPP Offer opens Monday, 16 June 2025 Issue of New Shares under Canadian Offering Friday, 20 June 2025 Close of SPP offer Monday, 7 July 2025 Issue of SPP Shares Monday, 14 July 2025 General Meeting to approve the issue of T2 Placement Shares under the Institutional Placement Indicatively Mid-July 2025 Settlement, Allotment and Trading for T2 Placement Shares issued under the Institutional Placement Indicatively Mid-July 2025 and following the General Meeting The above timetable is indicative only and subject to change. The Company reserves the right to amend any or all of these dates and times without notice, subject to the Corporations Act, the ASX Listing Rules and other applicable laws. ABOUT FIREFLY METALS FireFly Metals Ltd (ASX, TSX: FFM) is an emerging copper-gold company focused on advancing the high-grade Green Bay Copper-Gold Project in Newfoundland, Canada, which is comprised of multiple assets, including the Ming underground mine and Little Deer exploration project. The Green Bay Copper-Gold Project currently hosts a Mineral Resource prepared in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012) and Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101) of 24.4Mt of Measured and Indicated Resources at 1.9% for 460Kt CuEq and 34.5Mt of Inferred Resources at 2% for 690Kt CuEq. The Company has a clear strategy to rapidly grow the copper-gold Mineral Resource to demonstrate a globally significant copper-gold asset. FireFly has commenced a 130,000m diamond drilling program. FireFly holds a 70% interest in the high-grade Pickle Crow Gold Project in Ontario. The current Inferred Resource stands at 11.9Mt at 7.2g/t for 2.8Moz gold, with exceptional discovery potential on the 500km 2 tenement holding. The Company also holds a 90% interest in the Limestone Well Vanadium-Titanium Project in Western Australia. For further information regarding FireFly Metals Ltd please visit the ASX platform (ASX:FFM) or the Company's website or SEDAR+ at Mineral Resources Estimate – Green Bay Project The Mineral Resource Estimate for the Green Bay Project referred to in this announcement and set out at Appendix A was first reported in the Company's ASX announcement dated 29 October 2024, titled "Resource increases 42% to 1.2Mt of contained metal at 2% Copper Eq" and is also set out in the Technical Reports for the Ming Copper Gold Mine, titled "National Instrument 43-101 Technical Report, FireFly Metals Ltd., Ming Copper-Gold Project, Newfoundland" with an effective date of November 29, 2024 and the Little Deer Copper Project, titled "Technical Report and Updated Mineral Resource Estimate of the Little Deer Complex Copper Deposits, Newfoundland, Canada" with an effective date of June 26, 2024, each of which is available on SEDAR+ at The Company confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate in the original announcement continue to apply and have not materially changed. Metal equivalents for the Mineral Resource Estimate mineralisation have been calculated at a copper price of US$8,750/t, gold price of US$2,500/oz and silver price of US$25/oz. Individual Mineral Resource grades for the metals are set out at Appendix A of this announcement. Copper equivalent was calculated based on the formula CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x 0.00822). Metallurgical factors have been applied to the metal equivalent calculation. Copper recovery used was 95%. Historical production at the Ming Mine has a documented copper recovery of ~96%. Precious metal metallurgical recovery was assumed at 85% on the basis of historical recoveries achieved at the Ming Mine in addition to historical metallurgical test work to increase precious metal recoveries. In the opinion of the Company, all elements included in the metal equivalent calculations have a reasonable potential to be sold and recovered based on current market conditions, metallurgical test work, and historical performance achieved at the Green Bay project whilst in operation. Mineral Resources Estimate – Pickle Crow Project The Mineral Resource Estimate for the Pickle Crow Project referred to in this announcement was first reported in the Company's ASX announcement dated 4 May 2023, titled "High-Grade Inferred Gold Resource Grows to 2.8Moz at 7.2g/t" and is also set out in the Technical Report for the Pickle Crow Project, titled "NI 43-101 Technical Report Mineral Resource Estimate Pickle Crow Gold Project, Ontario, Canada" with an effective date of November 29, 2024 available on SEDAR+ at The Company confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the Mineral Resource Estimate in the original announcement continue to apply and have not materially changed. COMPETENT PERSON / QUALIFIED PERSON All technical and scientific information in this announcement has been reviewed and approved by Group Chief Geologist, Mr Juan Gutierrez BSc, Geology (Masters), Geostatistics (Postgraduate Diploma), who is a Member and Chartered Professional of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Gutierrez is a Competent Person as defined in the JORC Code 2012 and a Qualified Person as defined in NI 43-101. FORWARD-LOOKING INFORMATION This announcement may contain certain forward-looking statements and projections, including statements regarding the Equity Raising, the SPP, and FireFly's plans, forecasts and projections with respect to its mineral properties and programs, including the use of proceeds of the Equity Raising and SPP and the completion and expected closings of the Equity Raising and SPP. Forward-looking statements may be identified by the use of words such as "may", "might", "could", "would", "will", "expect", "intend", "believe", "forecast", "milestone", "objective", "predict", "plan", "scheduled", "estimate", "anticipate", "continue", or other similar words and may include, without limitation, statements regarding plans, strategies and objectives. Although the forward-looking statements contained in this announcement reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, such forward-looking statements and projections are estimates only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of the Company, which may include changes in commodity prices, foreign exchange fluctuations, economic, social and political conditions, and changes to applicable regulation, and those risks outlined in the Company's public disclosures. The forward-looking statements and projections are inherently uncertain and may therefore differ materially from results ultimately achieved. For example, there can be no assurance that FireFly will be able to confirm the presence of Mineral Resources or Ore Reserves, that FireFly's plans for development of its mineral properties will proceed, that any mineralisation will prove to be economic, or that a mine will be successfully developed on any of FireFly's mineral properties. The performance of FireFly may be influenced by a number of factors which are outside of the control of the Company, its directors, officers, employees and contractors. The Company does not make any representations and provides no warranties concerning the accuracy of any forward-looking statements or projections, and disclaims any obligation to update or revise any forward-looking statements or projections based on new information, future events or circumstances or otherwise, except to the extent required by applicable laws. Green Bay Copper-Gold Project Mineral Resources Ming Deposit Mineral Resource Estimate Little Deer Mineral Resource Estimate GREEN BAY TOTAL MINERAL RESOURCE ESTIMATE 1. FireFly Metals Ltd Mineral Resources for the Green Bay Copper-Gold Project, incorporating the Ming Deposit and Little Deer Complex, are reported in accordance with the JORC Code 2012 and NI 43-101. 2. Mineral Resources have been reported at a 1.0% copper cut-off grade. 3. Metal equivalents for the Mineral Resource Estimate has been calculated at a copper price of US$8,750/t, gold price of US$2,500/oz and silver price of US$25/oz. Metallurgical recoveries have been set at 95% for copper and 85% for both gold and silver. CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x 0.00822). 4. Totals may vary due to rounding. SOURCE FireFly Metals Ltd.
Cision Canada
an hour ago
- Cision Canada
RIOT PLATFORMS, INC. REPORTS BENEFICIAL OWNERSHIP OF 14.3% IN BITFARMS LTD.
CASTLE ROCK, Colo., June 9, 2025 /CNW/ - Riot Platforms, Inc. (" Riot") issues this press release pursuant to Part 3 of Canadian National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and Part 5 of Canadian National Instrument 62-104 – Take-Over Bids and Issuer Bids in respect of Bitfarms Ltd. (" Company"). Riot announces that on June 9, 2025 it sold 1,748,200 common shares (the " Sold Shares") of the Company representing approximately 0.31% of the issued and outstanding Common Shares (the " Common Shares") of the Company (based on the information contained in the Company's management information circular filed on June 9, 2025 (the " Company's Circular"). The Sold Shares were sold through normal course sales on the Nasdaq Stock Market and other open market trades for a weighted average price of approximately US$0.90 per Sold Share (equivalent to approximately C$1.23 per Sold Share based on the daily exchange rate posted by the Bank of Canada on June 9, 2025 (the " Exchange Rate")) at a price range per Sold Share of approximately US$0.88 to US$0.92 (equivalent to approximately C$1.21 to C$1.26 based on the Exchange Rate) for an aggregate amount equal to US$1,576,351.94 (equivalent to approximately C$2,157,079.99 based on the Exchange Rate). Immediately prior to the sales of Common Shares giving rise to the issuance of this press release, Riot beneficially owned 81,249,679 Common Shares, representing approximately 14.61% of the issued and outstanding Common Shares (based on the information contained in the Company's Circular). Following completion of the aforementioned sales, Riot beneficially owned 79,501,479 Common Shares, representing approximately 14.30% of the issued and outstanding Common Shares as at the date hereof (based on the information contained in the Company's Circular). Riot intends to review its investment in the Company on a continuing basis and depending upon various factors, including without limitation, any discussion between Riot, the Company and/or the Company's Board of Directors and its advisors regarding, among other things, the Company's financial position and strategic direction, overall market conditions, other investment opportunities available to Riot, and the availability of securities of the Company at prices that would make the purchase or sale of such securities desirable, Riot may (i) increase or decrease its position in the Company through, among other things, the purchase or sale of securities of the Company, including through transactions involving the Common Shares and/or other equity, debt, notes, other securities, or derivative or other instruments that are based upon or relate to the value of securities of the Company in the open market or otherwise, (ii) enter into transactions that increase or hedge its economic exposure to the Common Shares without affecting its beneficial ownership of the Common Shares or (iii) consider or propose one or more of the actions described in subparagraphs (a) - (k) of Item 5 of Riot's early warning report filed in accordance with applicable Canadian securities laws. This press release is not meant to be, nor should it be construed as, an offer (or an intention to make an offer) to buy or the solicitation of an offer to sell any of the Company's securities. Riot will file the Early Warning Report in accordance with applicable securities laws, which will be available under the Company's profile at The head office of the Company is 110 Yonge Street, Suite 1601 Toronto, Ontario M5C 1T4. The address of Riot is 3855 Ambrosia Street, Suite 301, Castle Rock, CO 80109. For further information and to obtain a copy of the Early Warning Report, please see the Company's profile on the SEDAR+ website ( or contact Phil McPherson, Vice President, Capital Markets & Investor Relations, at (303) 794-2000 ext. 110. About Riot Platforms, Inc. Riot's (NASDAQ: RIOT) vision is to be the world's leading Bitcoin-driven infrastructure platform. Our mission is to positively impact the sectors, networks, and communities that we touch. We believe that the combination of an innovative spirit and strong community partnership allows the Company to achieve best-in-class execution and create successful outcomes. Riot, a Nevada corporation, is a Bitcoin mining and digital infrastructure company focused on a vertically integrated strategy. Riot has Bitcoin mining operations in central Texas and Kentucky, and electrical engineering and fabrication operations in Denver, Colorado, and Houston, Texas. For more information, visit Cautionary Note Regarding Forward Looking Statements Statements contained herein that are not historical facts constitute "forward-looking statements" and "forward-looking information" (together, "forward-looking statements") within the meaning of applicable U.S. and Canadian securities laws that reflect management's current expectations, assumptions, and estimates of future events, performance and economic conditions. Such forward-looking statements rely on the safe harbor provisions of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934 and the safe harbor provisions of applicable Canadian securities laws. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words and phrases such as "anticipate," "believe," "create," "drive," "expect," "forecast," "future," "growth," "intend," "hope," "opportunity," "plan," "potential," "proposal," "synergies," "unlock," "upside," "will," "would," and similar words and phrases are intended to identify forward-looking statements. Such forward-looking statements are not guarantees of future performance or actual results, and readers should not place undue reliance on any forward-looking statement as actual results may differ materially and adversely from forward-looking statements. Detailed information regarding the factors identified by the management of Riot, which they believe may cause actual results to differ materially from those expressed or implied by such forward-looking statements in this press release, may be found in Riot's filings with the U.S. Securities and Exchange Commission (the " SEC"), including the risks, uncertainties and other factors discussed under the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" of Riot's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 28, 2025, and the other filings Riot has made or will make with the SEC after such date, copies of which may be obtained from the SEC's website at All forward-looking statements contained herein are made only as of the date hereof, and Riot disclaims any intention or obligation to update or revise any such forward-looking statements to reflect events or circumstances that subsequently occur, or of which Riot hereafter becomes aware, except as required by applicable law.
Vancouver Sun
an hour ago
- Vancouver Sun
Opinion: Most Canadians don't support taxpayer subsidies for LNG
Proponents often claim that Canada's LNG will reduce global warming by displacing coal in other countries. However, we have run out of time for a 'transition fuel' if we're to meet the goals of the Paris Agreement. In this context, new LNG infrastructure isn't a climate solution, but rather a substitute for investment in clean energy. Luckily, the price of renewables has dropped dramatically, making this transition both feasible and affordable. LNG is also a bad economic bet. The International Energy Agency has projected that LNG capacity will exceed demand by the next decade, making new capital investments especially risky. This is presumably why private investors are wavering and looking to Canadian governments to subsidize their projects with public dollars. A daily roundup of Opinion pieces from the Sun and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Informed Opinion will soon be in your inbox. Please try again Interested in more newsletters? Browse here. A recent poll found that 56 per cent of respondents, both in B.C. and nationally, oppose multibillion-dollar public subsidies for foreign-owned LNG projects. Only 18 per cent of Canadians, and 22 per cent of British Columbians, are supportive while the rest are unsure. In B.C., where most LNG projects are proposed and LNG Canada will soon come online, people have other priorities for their tax dollars. In fact, supporting oil-and-gas is at the bottom of a list led by health care, housing, education, renewable energy and transit. The lack of public support for subsidizing fossil fuels has been consistent for years. In 2018, two-thirds of Canadians opposed subsidizing oil-and-gas, 41 per cent strongly. More than half remained unsupportive, even after being told oil-and-gas subsidies would create jobs and economic growth. In 2021, 62 per cent of Canadians wanted the federal government to stop fossil fuel subsidies and there was mounting frustration that the government hadn't acted on a 2015 campaign promise to do so. In 2023, the majority of Canadians felt that oil companies, not taxpayers, should foot the bill for the Trans Mountain pipeline expansion. Only 30 per cent of British Columbians supported subsidies for LNG. A 2023 poll found 96 per cent of Canadians felt the federal government should disclose subsidies for fossil fuels. That year, the government of Canada signed a joint ministerial statement at the UN climate talks that committed them to do just that by the end of 2024. There is still no inventory of fossil fuel subsidies in mid-2025, undermining Canadians' ability to understand where their tax dollars are going. Canada claims to be a global leader on climate change, yet we continuously fail to meet our climate targets. The main reason is that emissions growth from oil-and-gas production has offset progress in other areas. According to the UN Environment Programme , governments around the world, including Canada, are planning for continued fossil fuel production that will result in more than double the global emissions scientists advise are consistent with limiting warming to 1.5 C. Canada, unfortunately, is one the biggest funders of the fossil fuel industry globally. That includes billions of taxpayer dollars that the federal and B.C. governments have already committed to LNG in the form of direct subsidies, lower tax and electricity rates, and public loans. Canadian taxpayers have been footing the bill for fossil fuel developments that threaten our own climate, health and economy. In this critical moment, Canada's leaders should instead use public funds to support projects that advance Canada's economy and safety, not only today but for decades to come. Kathryn Harrison is professor of political science at the University of B.C. Cara Pike is co-founder and senior adviser to at Carleton University in Ottawa.
