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Yahoo
a day ago
- Business
- Yahoo
Carlyle Completes Sale of Newton Gold Project to Axcap Ventures Inc.
Vancouver, British Columbia--(Newsfile Corp. - June 3, 2025) - Carlyle Commodities Corp. (CSE: CCC) (FSE: BJ4) (OTC: CCCFF) ("Carlyle" or the "Company") is pleased to announce, that further to its news release dated May 26, 2025, it has closed its previously announced transaction with Axcap Ventures Inc. ("Axcap") to sell a 100% interest in its Newton Gold Project (the "Newton Project"), located in British Columbia, Canada (the "Transaction"), pursuant to the terms of the Mineral Property Purchase Agreement dated May 23, 2025 (the "Agreement"). Under the terms of the Agreement, in consideration of the Newton Project, Carlyle received aggregate consideration comprising cash, shares and warrants, as follows: $500,000 in cash payments; 500,000 common share purchase warrants of Axcap (the "Payment Warrants"), exercisable at $0.20 per share until June 3, 2028; 3,750,000 common shares of Axcap (the "Initial Payment Shares"); and Common shares of Axcap valued at $1,250,000 (the "Secondary Payment Shares") to be issued 12 months following closing of the Transaction at a 20-day VWAP leading up to the anniversary of the Transaction, subject to Canadian Securities Exchange minimum pricing requirements. Additionally, upon completion of certain milestones, as set forth below, Axcap will pay Carlyle the following consideration: Milestone Share Payment Cash Payment 2,000,000 oz Au (Measured or Indicated Resource) 2,500,000 shares $250,000 3,000,000 oz Au (Measured or Indicated Resource) 5,000,000 shares $250,000 Completion of NI 43-101 Pre-Feasibility Study 5,000,000 shares $500,000 Completion of Bankable Feasibility Study 10,000,000 shares $1,000,000 Pursuant to the terms of the Agreement, the Initial Payment Shares are subject to voluntary resale restrictions as follows: 25% will become freely tradable on August 3, 2025; an additional 25% will become freely tradable every two months thereafter, with the final 25% becoming freely tradable on June 3, 2026. The Secondary Payment Shares will also be subject to voluntary resale restrictions as follows: 25% will become freely tradable four months following the date of issuance; an additional 25% will become freely tradable each subsequent month, with the final 25% becoming freely tradable seven months after issuance. Additionally, the Payment Warrants, Initial Payment Shares, and Secondary Payment Shares are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws. Further, in connection with the Transaction Axcap paid a finder's fee by the issuance of 1,212,500 common shares of Axcap (the "Finder Shares") to an arm's length finder, which 587,500 Finder Shares was issued upon the closing of the Transaction and 625,000 Finder Shares will be issued upon issuance of the Secondary Payment Shares, subject to applicable securities laws and the policies of the CSE. The Finder Shares are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws. About Carlyle Carlyle is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties. Carlyle owns 100% of the Quesnel Gold Project located in the Cariboo Mining Division, 30 kilometers northeast of Quesnel in central B.C, holds the option to acquire 100% undivided interest in the Nicola East Mining Project, located approximately 25 kilometers east of the mining town of Merritt, B.C., and is listed on the CSE under the symbol "CCC", on the OTC Market under the ticker "CCCFF" and the Frankfurt Exchange under the ticker "BJ4". ON BEHALF OF THE BOARD OF DIRECTORS OF CARLYLE COMMODITIES CORP. "Morgan Good" Morgan GoodChief Executive Officer For more information regarding this news release, please contact: Morgan Good, CEO and Director T: 604-715-4751E: morgan@ W: FORWARD-LOOKING STATEMENTS This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of Carlyle regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the issuance of the Secondary Payment Shares and the milestone payments pursuant to the Agreement; the expected benefits of the Transaction to Carlyle; that Axcap will issue the remaining Finder Shares; or complete the disclosed Milestones and make the payments to Carlyle related thereto. These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: the benefits of the Transaction or the prospects of the Newton Project; managements expectations regarding the Newton Project may prove to be inaccurate; and adverse regulatory changes or other changes impacting Carlyle's business plans and ability to achieve its business objectives. In making the forward looking statements in this news release, Carlyle has applied several material assumptions, including without limitation, that: the Transaction will result in the benefits for Carlyle as currently anticipated by management; and that Carlyle will be able to carry out its business plans and achieve its business objectives, as currently anticipated by management. Although management of Carlyle has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. To view the source version of this press release, please visit
Irish Examiner
7 days ago
- Business
- Irish Examiner
Central Bank recorded loss of €795m last year
The Central Bank of Ireland made a loss of €795.4m last year as a consequence of using its balance sheet as a tool for monetary policy. Publishing its annual report, the CBI said the utilisation of its general risk provision brought the result to a nil profit for the year. Central Bank governor Gabriel Makhlouf said the bank's financial position remained robust, despite the losses. "These losses reflect the use of our balance sheet as a policy tool, and — over a number of years — the bank has built up substantial financial buffers in anticipation of such an eventuality," he said. He said the interest rate mismatch risk, which caused the loss, was anticipated and projected, and the Central Bank took a number of actions in recent years to mitigate the impact. As part of its assessment of the risk, a provision of €3bn was built up to cover anticipated losses. The bank's wide-ranging report covers various actions taken in 2024. "Over the course of the year, we put in place a new integrated approach to regulation and supervision, which involved significant internal reorganisation. "This, among other things, will enable us to better respond to the risk environment of the sectors we supervise and the consumers we work to protect," Mr Makhlouf said. Enforcement actions last year included a €1.2m fine for Goodbody Stockbrokers for failing to put in place an effective trade surveillance framework to monitor, detect and report suspicious orders and transactions. Waystone Fund Management was fined €393,512 for eight breaches, including failings in relation to due diligence, conflicts of interest, delegate oversight, risk management, valuation procedures and treating investors fairly. The Central Bank reprimanded and fined BlueSnap Payment Services Ireland Limited (BlueSnap) €324,240 for three breaches of the European Union (Payment Services) Regulations 2018, for failing to comply with its safeguarding obligations and failing to inform the Central Bank promptly of changes to the accuracy of information given at authorisation. Three Central Bank inquiries continued in 2024, including one related to former PTSB chief executive David Guinane, who in January was found to have participated in a failure by the bank in 2009 to act in the best interests of certain tracker mortgage customers, breaching consumer protection rules. Other actions by the Central Bank included issuing currency. Last year, the Central Bank issued 166 million banknotes, valued at €5.3bn, representing a 2% decrease on the 169 million banknotes issued in 2023. The Central Bank, acting as agent for the minister for finance, issued 63 million coins, value at €33m. Read More Irish household wealth reaches a new record of €1,247bn
Indian Express
28-05-2025
- Business
- Indian Express
Governor Thaawarchand Gehlot approves Karnataka gig workers' welfare ordinance, here's what it says
Karnataka Governor Thaawarchand Gehlot on Tuesday gave his assent to an ordinance that aims to protect the rights of platform-based gig workers in the state. The Karnataka Platform Based Gig Workers (Social Security and Welfare) Ordinance, 2025, extends to aggregators, including Swiggy, Zomato, Amazon, Ola and Uber, among others. The ordinance mandates platforms to pay a gig workers' welfare fee, set at 1 per cent to 5 per cent of the payout to gig workers per transaction. The state government will notify the exact fee structure for different categories of platforms within six months. The welfare fee must be collected by aggregators and deposited quarterly into the Karnataka Gig Workers Social Security and Welfare Fund. The state government will prescribe the collection method. The ordinance states that failure to deposit the welfare fee on time incurs a 12 per cent per annum simple interest penalty from the due date until payment. Additional non-compliance may result in fines of up to Rs 5,000 for the first violation, and Rs 1 lakh for subsequent violations. Payments into the fund, including the welfare fee, will support social security benefits such as income security during unemployment, sickness, maternity, or work-related injuries. The Board is restricted to using no more than 5 per cent of the fund for administrative costs, ensuring maximum allocation for worker welfare. All payments to gig workers and corresponding welfare fee deductions will be recorded in the soon-to-be-formed, state-administered Payment and Welfare Fee Verification System, monitored by the Karnataka Platform Based Gig Workers Welfare Board. As per the ordinance, aggregators must make payouts to gig workers as per the contract, with mandatory cycles of daily, weekly, bi-weekly, or monthly payments. The ordinance prohibits arbitrary termination of gig workers, requiring aggregators to provide written reasons and a 14-day notice, except in cases of bodily harm, where immediate action is allowed with a right to appeal. Aggregators and platforms must also register with the board within 45 days of the ordinance's commencement and provide transparent contracts with fair terms, including the right to refuse tasks. The ordinance mandates the establishment of the Karnataka Platform Based Gig Workers Welfare Board, headquartered in Bengaluru. The board will oversee the registration of gig workers and aggregators, monitor welfare fee collection, and implement social security schemes. It will also engage with workers' associations, ensure transparency, and provide recommendations to the state government for tailored schemes, especially for women and persons with disabilities. The board will be chaired by the minister in charge of the labour department, serving as the ex-officio chairperson. Other ex-officio members will include the additional chief secretary or principal secretary, or secretary to government from the labour department, and the information and technology department, or their nominees not below the rank of joint secretary. The commissioner of the commercial taxes department or a nominee not below the rank of joint commissioner is also an ex-officio member. Additionally, a chief executive officer appointed by the state government will act as the executive in charge of day-to-day functions and serve as the ex-officio member secretary of the board. The board will also have four representatives of gig workers and four representatives of aggregator platforms, all nominated by the state government. Furthermore, two members from civil society with experience in the gig economy or subject matter expertise will be nominated. A technical expert in data collection and IT systems may also be invited as a special invitee to provide inputs when necessary.
Qatar Tribune
12-05-2025
- Business
- Qatar Tribune
Qatar Islamic Bank wins top retail and SME bank awards
Tribune News Network Doha Qatar Islamic Bank has been named best retail bank in Qatar and best SME bank in Qatar at the MEED MENA Banking Excellence Awards 2025, reaffirming its position as a leading financial institution committed to innovation, customer excellence, and sustainable growth. The best retail bank in Qatar award reflects QIB's strong retail proposition built around accessibility, efficiency, and trust. The bank's success is grounded in a well-balanced strategy that integrates digital innovation with personalized support. With over 300 features and an intuitive user experience, the QIB Mobile App has become the preferred banking channel for QIB customers, offering a comprehensive and user-friendly platform for all their banking needs. The App offers customers the ability to have full control of their accounts, cards, and transactions and to fulfil all their banking requirements remotely. All citizens and residents in Qatar can open their first account in QIB within few minutes through the mobile app without the need to visit a branch. Existing QIB customers can open additional accounts, apply for personal financing and/or a Credit Card, instantly via the QIB Mobile App. Further strengthening its position as a digital leader, QIB has introduced new innovations beyond banking including the QIB Marketplace providing a diverse range of products and including a section for local SMEs to display & sell products. The Bank has also introduced the first Auto Marketplace in Qatar, also within its mobile app, enabling customers to browse, book a test drive, select and finance vehicles online. The best SME bank in Qatar award underscores QIB's comprehensive approach to supporting small and medium-sized enterprises. QIB offers a wide range of tailored Shari'a-compliant products and digital services, including online account opening, Corporate Internet Banking, and its Corporate Mobile App. The Bank has also introduced co-branded credit cards in partnership with Ooredoo, as well as a suite of payment solutions such as POS machines, Payment Gateway, and the SoftPOS App. These services are designed to simplify banking for SMEs, improve access to financing, and help businesses manage their cash flow more efficiently, supporting their growth and contribution to Qatar's economic diversification. QIB's continued investment in innovation, combined with its strong financial performance, has cemented its status as a market leader. For the three months ended 31 March 2025, QIB reported a net profit of QAR 985 million, a 3.1% increase over the same period last year. Total assets grew to QAR 212 billion, while the Bank maintained a cost-to-income ratio of 16.6%, the best in the Qatari banking sector. QIB also continued to demonstrate prudent risk management, with a non-performing financing assets ratio of 1.76% and a financing-to-deposit ratio well within regulatory limits. Commenting on the awards, Bassel Gamal, QIB's Group CEO, said: 'We are pleased to be recognized by MEED for our excellence in retail and SME banking. These awards reflect the strength of our digital strategy, our focus on innovation, and our customer-first mindset. We remain committed to delivering secure, convenient, and inclusive banking experiences that meet the needs of individuals and businesses across Qatar.' MEED, in partnership with GlobalData financial services publications Retail Banker International and Private Banker International, hosted the fourth edition of the MENA Banking Excellence Awards 2025. This year's awards program honored top-performing financial institutions across the Middle East and North Africa, spotlighting innovation, customer experience, and operational excellence across various banking segments.
Business Wire
12-05-2025
- Business
- Business Wire
Cotiviti Named Highest-Designated Leader by Everest Group in the Payment Integrity Solutions PEAK Matrix
SALT LAKE CITY--(BUSINESS WIRE)-- Cotiviti, a leader in data-driven healthcare solutions, has been named the highest-designated Leader by Everest Group in the Payment Integrity Solutions PEAK Matrix ® Assessment 2025. This recognition is a reflection of the combined market impact, vision, and capabilities delivered by Cotiviti's Payment Accuracy solutions. 'Cotiviti brings a comprehensive breadth of experience across payer types and addresses both pre and postpay needs through a comprehensive solution suite." Share 'As they strive to eliminate waste and ensure the accuracy and quality of their claims payments, health plans are increasingly looking for a payment accuracy partner that can deliver the breadth, depth, and scale they require across their numerous programs,' said Emad Rizk, M.D., president and CEO of Cotiviti. 'This achievement underscores Cotiviti's unwavering commitment to both prepayment and postpayment integrity as well as our market-leading client services, which eliminated over $9.5 billion in payment waste from the healthcare system in 2024 through the prevention of improper claims, which can enable those funds to be redirected toward appropriate member care and populations in need.' 'With healthcare fraud and billing errors costing the U.S. system billions of dollars annually, payers are intensifying efforts to adopt proactive payment integrity strategies that span the full claims lifecycle,' said Ankur Verma, vice president at Everest Group. 'Cotiviti brings a comprehensive breadth of experience across payer types and addresses both pre and postpay needs through a comprehensive solution suite. Its clients cite strong value, robust relationship management, and a deep commitment to performance as key differentiators. Investments in product innovation and the formalization of an AI Center of Excellence further aided in its positioning as a Leader in Everest Group's Payment Integrity Solutions PEAK Matrix ® Assessment 2025.' Everest Group's PEAK Matrix ® is a globally recognized assessment that evaluates organizations based on key factors such as vision, capabilities, functionality, talent availability, market success, impact, and cost-effectiveness. Cotiviti has been recognized as a Leader in payment integrity solutions for each of the three years that this assessment has been published. This year, the company earned the position of the highest-designated Leader, reflecting its continuous innovation, commitment to accuracy, and proven success in delivering value to clients. Cotiviti has been a leader in payment integrity for over 25 years and serves more than 100 payer clients with Payment Accuracy solutions, including top national health plans, regional and community plans, Blue Cross Blue Shield Plans, third-party administrators, CMS, and state Medicaid agencies. 'By offering full-service solutions across the payment continuum, driven by clinical expertise and advanced technologies including artificial intelligence and natural language processing, Cotiviti delivers total value, meaningful innovation, and deep expertise to each of our customers,' said Christopher Coloian, executive vice president of revenue and growth for Cotiviti. 'This recognition highlights what truly distinguishes Cotiviti: our differentiated technology, content and service model that underpins our clients' ability to administer benefits and accurately pay for services for their members.' Cotiviti's Payment Accuracy solutions include prepay claim editing and coding validation; fraud, waste, and abuse prevention and recovery; clinical coding validation; coordination of benefits; and data mining. Prepay claim editing customers also have access to Cotiviti's industry-leading cross-payer analytics and benchmarks, delivering claim and provider insights to empower health plans to make more informed payment policy decisions based on what's happening across the entire market. The Everest Group report offering an overview of Cotiviti's payment integrity solutions is available on Cotiviti's website for health plan professionals to download and read. About Cotiviti Cotiviti enables healthcare organizations to deliver better care at lower cost through advanced technology and data analytics, helping to ensure the quality and sustainability of how healthcare is delivered in the United States. Cotiviti's solutions are a critical foundation for healthcare payers in their mission to lower healthcare costs and improve quality through higher performing payment accuracy, quality improvement, risk adjustment, and consumer engagement programs. The company also supports the retail industry with data management and recovery audit services that improve business outcomes. For more information, visit Disclaimer Licensed extracts taken from Everest Group's PEAK Matrix ® Reports, may be used by licensed third parties for use in their own marketing and promotional activities and collateral. Selected extracts from Everest Group's PEAK Matrix ® reports do not necessarily provide the full context of our research and analysis. All research and analysis conducted by Everest Group's analysts and included in Everest Group's PEAK Matrix ® reports is independent and no organization has paid a fee to be featured or to influence their ranking. To access the complete research and to learn more about our methodology, please visit Everest Group PEAK Matrix ® Reports. Everest Group is a leading global research firm helping business leaders make confident decisions. Everest Group's PEAK Matrix ® assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, and products and solutions within various market segments. Likewise, providers of these services, products, and solutions, look to the PEAK Matrix ® to gauge and calibrate their offerings against others in the industry or market. Find further details and in-depth content at
