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Cision Canada
3 days ago
- Business
- Cision Canada
NameSilo Technologies Corp. Announces Q1 2025 Results
VANCOUVER, BC, May 30, 2025 /CNW/ - NameSilo Technologies Corp. (CSE: URL) (PINKSHEETS: URLOF) (the " Company"), one of the largest domain registrars in the world, is pleased to announce the financial results for the quarter ending March 31, 2025. The financial statements and related management's discussion and analysis ("MD&A") can be viewed on SEDAR+ at Financial Highlights of the Company: The Company's financial results in fiscal Q1 2025 are set forth below (all figures in Canadian dollars): 10th consecutive quarter and 7th year of consecutive revenue growth. 14 th consecutive quarter of net operating income. Record revenues of $15,872,636 for Q1 2025 as compared to $12,801,965 in Q1 2024, an increase of 24.0%. The increase in revenues for Q1 2025 was due to an increase in domains under management, marketplace revenues, and from the sale of ancillary services. Gross Profit of $4,132,472 or 26.0% of revenues in Q1 2025 vs $2,661,498 or 20.8% in Q1 2024. Highest gross margin in the Company's history. Operating income of $1,952,826 for Q1 2025 compared to $1,132,805 in Q1 2024 an increase of 72.4%. Net income of $1,622,623 in Q1 2025 compared to net income of $1,214,490 in Q1 2024 an increase of 33.6%. Adjusted EBITDA* of $1,987,836 for Q1 2025 as compared to $1,669,670 in Q1 2024 Total Bookings* of $17,469,320 in Q1 2025 compared to $13,984,557 in Q1 2024 an increase of 24.9%. Total deferred revenues of $33,067,351 as of March 31, 2025, vs $31,470,667 at December 31 2024. Cash and cash equivalents of $3,795,380. Investment, convertible loans totaling $4,607,758. "We continue to be extremely pleased with the ongoing growth of our operating business," commented Paul Andreola, CEO of NameSilo Technologies. "Q1 was another record quarter in terms of revenues and gross margin with a significant increase in free cash flow. We are excited about our future growth prospects and the continued progress of our investee companies. Namesilo Technologies has never been better positioned to grow and deploy capital in our existing portfolio companies, pursue new investment opportunities, as well as continue our share buy-back strategy. We would like to thank all our employees, customers and shareholders for their support and hard work." Kristaps Ronka, CEO, NameSilo LLC comments "Q1 2025 has been a foundational quarter for us. We've expanded our team strategically, increased efficiencies in our development processes, and integrated AI-assisted coding to significantly accelerate product rollout. On the support front, we've begun implementing a new framework to deliver platinum-level support to our largest customers. With product bundling finalized, we're excited to launch our first bundled campaigns this June—paving the way for even more value to our users." NameSilo LLC will focus on adding value-added products to offer customers a one-stop source for essential services related to their domains. The Company believes that these new products will further increase core revenues and margin growth for NameSilo, improve customer retention and improve the value proposition to the customer base. About NameSilo Technologies Corp. and NameSilo LLC NameSilo Technologies Corp. invests its capital in companies and opportunities which management believes are undervalued and have potential for significant appreciation. The company makes investments in both public and private markets and focuses on opportunities in a wide variety of industries excluding the resource and resource service sectors. NameSilo does not invest on behalf of any third-party and it does not offer investment advice. NameSilo LLC is a low-cost provider of domain name registration and management services. As an accredited ICANN registrar, NameSilo is one of the fastest growing domain registrars in the world with approximately 5.8 million active domains under management from approximately 160 countries. Disclaimer for Forward-Looking Information Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding potential future investments by the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward-looking statements. *Non-IFRS Financial Measure Readers are cautioned that "Adjusted EBITDA" and "total bookings" are measures not recognized under IFRS. Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, share-based compensation, restructuring costs, impairment charges and other non-recurring gains or losses. Management believes Adjusted EBITDA is a useful measure that facilitates period-to-period operating comparisons. Total bookings includes the full amount of cash received from new domain bookings, renewals and other related services. Whereas, under IFRS, the Company records revenue from domain booking and renewal fees on a straight-line basis over the life of the contract term. However, the Company's management believes that "total bookings" provides investors with insight into management's decision-making process because management uses this measure to run the business and make financial, strategic and operating decisions. Further, "total bookings" also provides useful insight into the Company's operating performance on a yearly basis. "Total bookings" do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that "Adjusted EBITDA" and "total bookings" are not an alternative to measures determined in accordance with IFRS and should not, on their own, be construed as indicators of performance, cash flow or profitability. SOURCE NameSilo Technologies Corp.
Malaysian Reserve
3 days ago
- Business
- Malaysian Reserve
Strathcona Resources Ltd. Commences Offer to Acquire MEG Energy Corp.
CALGARY, AB, May 30, 2025 /PRNewswire/ – Strathcona Resources Ltd. ('Strathcona') announced today that it has formally commenced its offer (the 'Offer') to acquire all of the issued and outstanding common shares of MEG Energy Corp. (TSX: MEG) ('MEG') not already owned by Strathcona or its affiliates for 0.62 of a common share of Strathcona ('Strathcona Share') and $4.10 in cash per common share of MEG ('MEG Share'). The notice and advertisement of the Offer has been placed for publishing in The Globe and Mail and Le Devoir, and the Offer is contained in the Offer to Purchase and Bid Circular (the 'Offer and Circular') and related documents, which will be filed today with the Canadian securities regulators on SEDAR+ under MEG's profile at and posted on Strathcona's website. The Offer and Circular will be made available to all MEG shareholders in accordance with applicable securities laws. The Offer is open for acceptance until 5 p.m. (Mountain Time) on Monday, September 15, 2025. Strathcona also announced the execution of an equity commitment letter with Waterous Energy Fund ('WEF'), the holder of 79.6% of the outstanding Strathcona Shares, through certain limited partnerships comprising Waterous Energy Fund III ('WEF III'), pursuant to which WEF III has committed to purchase an additional 21.4 million Strathcona Shares through subscription receipts, conditional upon completion of the Offer. Pursuant to the terms of the equity commitment letter, the investment will be completed at a subscription price of $30.92 per subscription receipt, being equivalent to the price of the Strathcona Shares on May 15, 2025 prior to Strathcona announcing its intention to make the Offer, equating to an incremental investment by WEF in Strathcona of approximately $662 million. To Strathcona's knowledge, this represents the largest investment at one time by a single shareholder, public or private, in the Canadian upstream oil and gas sector since 2014. Adam Waterous, Executive Chairman of Strathcona and CEO of WEF commented, 'WEF's major further investment in Strathcona reflects our view that more than eight years into building Strathcona our best years are in front of us. As part of the Offer, we are asking MEG shareholders to join us as fellow shareholders in Strathcona and trust the Strathcona team as stewards of their capital. We therefore believe it is important that we eat our own cooking, ensuring no one will be more focused on increasing Strathcona's value beyond current levels than WEF. We firmly believe Strathcona represents compelling value at this price with a large margin of safety, and that we and the partners in our fund will do very well over the long run.' Offer Details The Offer is subject to the satisfaction or, where permitted, waiver of certain conditions, including, without limitation: (a) there having been validly deposited under the Offer and not withdrawn more than 50% of the outstanding MEG Shares (and associated rights under MEG's shareholder rights plan), excluding any MEG Shares beneficially owned, or over which control or direction is exercised, by Strathcona or by any person acting jointly or in concert with Strathcona, which condition cannot be waived by Strathcona; (b) there having been validly deposited under the Offer and not withdrawn MEG Shares (and associated rights under MEG's shareholder rights plan) which represent, together with the MEG Shares held by Strathcona, at least 66⅔% of the outstanding MEG Shares (on a fully-diluted basis); (c) no material adverse change having occurred in respect of the business, affairs, assets, operations or prospects of MEG; (d) all required governmental, regulatory and stock exchange approvals, or expiry, waiver or termination of any waiting or suspension period imposed, with respect to the Offer, including, without limitation, pursuant to the Competition Act (Canada) and the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the approval of the TSX with respect to the issuance and listing of the Strathcona Shares issuable pursuant to the Offer, having been obtained; (e) the Registration Statement (as defined below) having become effective under the U.S. Securities Act (as defined below), and not becoming subject to a stop order or a proceeding seeking a stop order; (f) MEG not having taken certain actions that could reasonably be expected to reduce the anticipated economic value to Strathcona of the Offer or impair the ability of Strathcona to proceed with the Offer; (g) Strathcona having obtained the requisite approval of the Strathcona shareholders with respect to the issuance of the Strathcona Shares under the Offer pursuant to the rules of the TSX; and (h) other customary conditions. The Offer is not subject to any due diligence or financing condition, with the cash consideration payable under the Offer to be funded pursuant to a bridge financing commitment from a syndicate of lenders (the 'Bridge Financing Commitment'), subject to the terms and conditions of such financing. If the conditions of the Offer are satisfied or, where permitted, waived at the expiry time of the Offer and Strathcona takes up and pays for the MEG Shares validly deposited under the Offer, Strathcona intends to acquire any MEG Shares not deposited under the Offer through a compulsory acquisition pursuant to the Business Corporations Act (Alberta), if available, or to propose an amalgamation, statutory arrangement or other transaction for the purpose of MEG becoming, directly or indirectly, a wholly-owned subsidiary or affiliate of Strathcona, in each case for consideration per MEG Share at least equal in value to and in the same form as the consideration paid by Strathcona per MEG Share under the Offer. The exact timing and details of any such transaction will depend upon a number of factors, including, without limitation, the number of MEG Shares acquired pursuant to the Offer. Strathcona encourages MEG shareholders to read the full details of the Offer set forth in the Offer and Circular, which contains the full terms and conditions of the Offer and other important information as well as detailed instructions on how MEG shareholders can deposit their MEG Shares to the Offer. Shareholders who have questions or require assistance in depositing MEG Shares to the Offer should contact the Information Agent, Laurel Hill Advisory Group, by email at assistance@ or by phone at 1-877-452-7184 (Toll-Free). Copies of the Offer and Circular, once filed, will be available without charge on request from Strathcona by email at info@ or by phone at (403) 930-3000 or by contacting Laurel Hill Advisory Group per the instructions set forth above. In connection with the Offer, Strathcona will file relevant materials with the U.S. Securities and Exchange Commission (the 'SEC'), including a registration statement on Form F-10 (the 'Registration Statement') under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act'), which will include the Offer and Circular and other documents related to the Offer. This news release is not a substitute for the Registration Statement, the Offer and Circular or any other relevant documents filed with the applicable Canadian securities regulatory authorities or the SEC. MEG shareholders and other interested parties are urged to read the Registration Statement, the Offer and Circular, all documents incorporated by reference therein, all other applicable documents and any amendments or supplements to any such documents when they become available, because they will contain important information about Strathcona, MEG and the Offer. When they become available, the Registration Statement, Offer and Circular and other materials filed by Strathcona with the SEC will be available electronically without charge at the SEC's website at When available, the Registration Statement, Offer and Circular, documents incorporated by reference therein and other relevant documents may also be obtained on request without charge from Strathcona or by contacting Laurel Hill Advisory Group per the instructions set forth above. WEF III Equity Investment Details Pursuant to an equity commitment letter dated May 29, 2025, WEF III has committed to subscribe for and purchase 21.4 million subscription receipts of Strathcona ('Strathcona Subscription Receipts') at a price of $30.92 per Strathcona Subscription Receipt for aggregate proceeds to Strathcona of approximately $662 million (the 'WEF III Equity Investment'). Each Strathcona Subscription Receipt will entitle WEF III to receive, automatically upon, among other specified circumstances, the take-up of MEG Shares deposited under the initial deposit period for the Offer, one Strathcona Share. The Strathcona Shares issuable upon conversion of the Strathcona Subscription Receipts represent approximately 9.99% of the Strathcona Shares issued and outstanding as of May 29, 2025. The subscription price of the Strathcona Subscription Receipts and other terms and conditions of the WEF III Equity Investment were determined in accordance with the rules of the TSX with reference to the five-day volume weighted average price of the Strathcona Shares on the TSX immediately prior to and including May 29, 2025 and through negotiations between WEF III and a special committee comprised of independent directors of Strathcona (the 'Special Committee') that was established in connection with the WEF III Equity Investment. The subscription price of $30.92 per Strathcona Subscription Receipt is equal to the closing price of the Strathcona Shares on the TSX on May 15, 2025, prior to Strathcona announcing its intention to make the Offer, and reflects a 7% premium to the five-day volume weighted average price of the Strathcona Shares on the TSX immediately prior to and including May 29, 2025. The proceeds of the WEF III Equity Investment will be held in escrow by a subscription receipt agent and released to, or at the direction of, Strathcona concurrently upon Strathcona taking up MEG Shares at the expiration of the initial deposit period for the Offer, and will be used by Strathcona to reduce a portion of the amount funded under the Bridge Financing Commitment and pay a portion of the cash consideration payable under the Offer. In the event that Strathcona withdraws or terminates the Offer, and has not substantially concurrently entered into a definitive agreement to acquire MEG, the proceeds of the WEF III Equity Investment will be returned to WEF III. The completion of the WEF III Equity Investment is subject to the satisfaction or waiver of certain customary conditions and is expected to be completed no later than July 13, 2025, being the date that is 45 days from the date of the equity commitment letter. The Offer is not conditional on the closing of the WEF III Equity Investment. Strathcona Shareholder Approval Strathcona expects to issue up to an aggregate of approximately 145 million Strathcona Shares pursuant to the Offer, consisting of 143 million Strathcona Shares issuable for MEG Shares deposited pursuant to the Offer and 2 million Strathcona Shares issuable for the MEG Shares issued upon settlement of certain security-based compensation awards of MEG, representing, in the aggregate, approximately 68% of the 214,235,608 Strathcona Shares issued and outstanding as at the date hereof. Strathcona expects to issue an additional 21.4 million Strathcona Shares upon conversion of the Strathcona Subscription Receipts issued pursuant to the WEF III Equity Investment. Under Section 611 of the TSX Company Manual, the issuance of approximately 169.3 million Strathcona Shares (the 'Strathcona Share Issuance'), comprised of 145 million Strathcona Shares issuable in respect of the Offer, 21.4 million Strathcona Shares issuable in respect of the WEF III Equity Investment and 2.9 million Strathcona Shares to account for clerical and administrative matters as permitted under the rules of the TSX, requires the approval of Strathcona shareholders, as the maximum number of Strathcona Shares issuable pursuant to the Offer exceeds 25% of the total number of outstanding Strathcona Shares. Pursuant to Section 604(d) of the TSX Company Manual, WEF, as the holder of more than 50% of the votes attached to the outstanding Strathcona Shares, has delivered to the TSX its written consent for the issuance of up to 169.3 million Strathcona Shares in respect of the Strathcona Share Issuance in satisfaction of such shareholder approval requirement, in lieu of a duly called meeting of security holders. The TSX will generally not require further security holder approval for the issuance of up to, approximately, an additional 36.975 million Strathcona Shares, such number being 25% of the number of Strathcona Shares approved by security holders in connection with the Offer. The Offer is being effected at arm's length and the issuance of Strathcona Shares is not expected to materially affect control of Strathcona. Assuming acquisition of all MEG Shares under the Offer and any second stage transaction, and upon completion of the WEF III Equity Investment, WEF is expected to own approximately 51% of the then issued and outstanding Strathcona Shares. The WEF III Equity Investment and the Offer are expected to close not earlier than five business days after dissemination of this press release. Advisors Scotiabank and TD Securities are acting as exclusive financial advisors to Strathcona in connection with the Offer. Blake, Cassels & Graydon LLP and Skadden, Arps, Slate, Meagher & Flom LLP are acting as legal counsel to Strathcona in connection with the Offer. The Special Committee has engaged Torys LLP, and WEF has engaged Bennett Jones LLP, to act as their respective legal counsel in connection with the WEF III Equity Investment. Strathcona has also engaged Laurel Hill Advisory Group to act as strategic communications advisor and information agent in connection with the Offer. MEG shareholders may contact Laurel Hill Advisory Group by email at assistance@ or by phone at 1-877-452-7184 (Toll-Free). About Strathcona Strathcona is one of North America's fastest growing oil producers with operations focused on thermal oil and enhanced oil recovery. Strathcona is built on an innovative approach to growth achieved through the consolidation and development of long-life oil and gas assets. The Strathcona Shares are listed on the Toronto Stock Exchange (TSX: SCR). Website addresses are provided for informational purposes only and no information contained on, or accessible from, such websites is incorporated by reference in this news release unless expressly incorporated by reference. No Offer or Solicitation This news release is for informational purposes only and does not constitute an offer to buy or sell, or a solicitation of an offer to sell or buy, any securities. The Offer to acquire MEG Shares and issue Strathcona Shares in connection therewith is made solely by, and subject to the terms and conditions set out in, the Offer and Circular and accompanying letter of transmittal and notice of guaranteed delivery. The Offer and Circular and the related documents, contain important information about the Offer and should be read in its entirety by MEG shareholders. Forward-Looking Information This news release contains certain 'forward-looking information' within the meaning of applicable Canadian securities laws and 'forward-looking statements' within the meaning of applicable U.S. securities laws (collectively, 'forward-looking information') and are prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events, and is therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking information. Often, but not always, forward-looking information can be identified by the use of forward-looking words such as 'believes', 'plans', 'expects', 'intends' and 'anticipates', or variations of such words, and phrases or statements that certain actions, events or results 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking information contained in this news release includes, but is not limited to, the expected delivery of the Offer and Circular; statements regarding Strathcona's future performance and prospects, including that the best years of Strathcona are in front of it, Strathcona's intentions with respect to the financing of the cash consideration payable under the Offer, including the expected reduction of the Bridge Financing Commitment by virtue of the WEF III Equity Investment; expectations with respect to the terms and timing of the WEF III Equity Investment; Strathcona's intention to acquire any MEG Shares not deposited under the Offer for the purpose of MEG becoming, directly or indirectly, a wholly-owned subsidiary or affiliate of Strathcona. Although Strathcona believes that the expectations reflected by the forward-looking information presented in this news release are reasonable, the forward-looking information is based on assumptions and factors concerning future events that may prove to be inaccurate. Those assumptions and factors are based on information currently available to Strathcona about itself and MEG and the businesses in which they operate. Information used in developing forward-looking information has been acquired from various sources, including third party consultants, suppliers and regulators, among others. The material assumptions used to develop the forward-looking information herein include, but are not limited to: the ability of Strathcona to complete the combination of Strathcona and MEG, pursuant to the Offer or otherwise, integrate Strathcona's and MEG's respective businesses and operations and realize the anticipated strategic, operational and financial benefits and synergies from the acquisition of MEG by Strathcona; the conditions of the Offer will be satisfied on a timely basis in accordance with their terms; MEG's public disclosure is accurate and that MEG has not failed to publicly disclose any material information respecting MEG, its business, operations, assets, material agreements or otherwise; there will be no material changes to laws and regulations adversely affecting Strathcona's or MEG's operations or the Offer; and the availability of delivery services in respect of the mailing of the Offer and Circular. Because actual results or outcomes could differ materially from those expressed in any forward-looking information, readers should not place undue reliance on any such forward-looking information. By its nature, forward-looking information is based on assumptions and involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking information. Factors that could cause actual events to differ materially from those contemplated or implied by the forward-looking information in this news release include, but are not limited to, an inability to procure regulatory approvals in a timely manner or on terms satisfactory to Strathcona; new or changing laws and regulations (domestic and foreign); the risk of failure to satisfy the conditions to the Offer; the risk that the anticipated synergies and other benefits of the Offer may not be realized; and an inability to procure delivery services and the impacts caused by a postal strike. In addition, readers are cautioned that the actual results of Strathcona following the successful completion of the Offer may differ materially from the expectations expressed herein as a result of a number of additional risks and uncertainties. Some of these risks, uncertainties and other factors are similar to those faced by other oil and gas companies and some are unique to Strathcona. Strathcona's annual information form for the year ended December 31, 2024 and other documents filed by Strathcona with the applicable Canadian securities regulatory authorities (available under Strathcona's profile on SEDAR+ at further describe risks, material assumptions and other factors that could influence actual results. The forward-looking information contained in this news release is provided as of the date hereof and Strathcona does not undertake any obligation to update or to revise any of the forward-looking information included herein, except as required by applicable securities laws. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.
Cision Canada
3 days ago
- Business
- Cision Canada
Northstar Reports First Quarter 2025 Financial and Operating Results
CALGARY, AB, May 30, 2025 /CNW/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) (" Northstar" or the " Company") is pleased to announce our financial and operating results for the three-month period ended March 31, 2025. Selected financial and operational information is set out below and should be read in conjunction with the Company's March 31, 2025 Condensed Interim Financial Statements and the related Management's Discussion and Analysis, which are available for review at or the Company's website at First Quarter 2025 Financial and Operational Highlights The first quarter of 2025 witnessed a number of significant developments and achievements, together with a few key funding achievements subsequent to the quarter-end, namely: Operational The Company successfully completed construction efforts of the Empower Calgary Facility; and Following the successful completion of construction, the Company began the important task of commissioning the Empower Calgary Facility. The Company's asphalt shingle reprocessing facilities are broadly broken into two main phases: (1) feedstock preparation and mechanical separation of aggregate, and (2) hydrocarbon treatment and processing. The Company successfully completed all commissioning efforts of the first phase and now continues to commission the second phase. Once those efforts are completed, the Empower Calgary Facility will be turned over to operations, currently scheduled for mid-year 2025. Plant Expansions - significant steps continued towards expansion efforts of the Company's business model, including: Empower Hamilton Facility – the Company executed a letter of intent with YORK1 Environmental Waste Solutions Ltd. to supply up to 10,000 tonnes of waste roofing shingles with an understanding to increase supply volumes through time. Execution of supply agreements represents a critical step in establishing a working facility. This first supply agreement followed closely on the announcement in late 2024 of the Company signing a letter of intent with the Great Lakes Port Management Inc., a subsidiary of the Hamilton-Oshawa Port Authority, for a long-term lease for an industrial zoned property located in Hamilton, Ontario as the site for the Company's planned facility in southwestern Ontario; US Expansion – the Company continues to expend time and energy in the selection of a suitable site for our inaugural reprocessing facility in the United States. As has been previously communicated by the Company, selection criteria have focused on areas that represent an operational fit with the Company's strategic financial partner, TAMKO Building Products Inc.; and Empower Delta Facility – during the quarter, the Company successfully secured a fifteen-year lease at its existing Delta, British Columbia location. This paves the way to retro-fit the existing pilot facility at this location to a full-scale commercial facility. The site currently holds all necessary regulatory approvals and permits for light industrial operations, offering a future expansion opportunity with reduced timelines and costs associated with permitting and site development. Liquidity – commensurate with execution of the business plan, the Company successfully received proceeds under previously negotiated funding agreements, consisting of: $3.9 million from Emissions Reduction Alberta, subsequent to the quarter-end, upon completion of Milestone 2, which includes among other items, all major processing units installed and electrified and substantial completion as defined in the Builder's Lien Act; $617 thousand final draw subsequent to the quarter-end under the Business Development Bank $8.75 million non-revolving senior secured project loan facility; and $248 thousand received during the quarter from the exercise of existing stock options and warrants. Year-to-date, the Company has received $392 thousand from the exercise of stock options and warrants. Outstanding common shares as of May 29, 2025 totaled 137,051,985. Financial Results (CAD$, except per share amounts and common shares outstanding) Three Months Ended Mar. 31 FINANCIAL RESULTS 2025 2024 Loss and comprehensive loss 2,949,917 1,581,578 Per share - basic and diluted 0.02 0.01 Net cash flow used in operating activities 2,338,652 1,201,168 Per share - basic and diluted 0.02 0.01 Capital expenditures Capital expenditures 4,080,489 1,848,278 Liquidity & Capitalization Working capital (deficit) surplus (426,551) 3,440,770 7.95% senior secured non-revolving loan (1) 8,132,302 - Convertible debentures - principal amount (2) 9,505,000 5,700,000 Royalty debenture (3) 14,773,500 - Common shares outstanding Weighted average - basic and diluted 132,942,452 126,710,381 Outstanding, end of period 134,306,216 126,710,381 (1) As at March 31, 2025, the Company had drawn $8,132,302 from the BDC Financing, with $617,698 remaining undrawn. See Note 7 in the Company's Condensed Interim Consolidated Financial Statements as at March 31, 2025. (2) Since December 2022, the Company has entered into various financing arrangements through the issuance of convertible debentures in tranches, raising a total of $10,405,000 at interest rates varying between 10% and 12.5%. As at March 31, 2025, principal amounts totalling $9,505,000 remain outstanding, reflecting $900,000 of proceeds received in exchange for conversion into common shares. See Note 8 in the Company's Condensed Interim Consolidated Financial Statements as at March 31, 2025. (3) On September 13, 2024 the Company completed an agreement with CVW CleanTech Inc. ("CVW") pursuant to which CVW provided the Company with $14,000,000 in funding through a five-year 10.0% second secured convertible debenture (the "Royalty Debenture") convertible into revenue royalties on two future facilities. Balance includes the increase in fair value since inception. See Note 9 in the Company's Condensed Interim Consolidated Financial Statements as at March 31, 2025. About Northstar Northstar is a Canadian waste to value technology company focused on the sustainable recovery and reprocessing of asphalt shingles. Northstar developed and owns a proprietary design process for taking discarded asphalt shingles, otherwise destined for already over-crowded landfills, and extracts the liquid asphalt for use in new hot mix asphalt shingle manufacturing and asphalt flat roof systems while also extracting aggregate and fiber for use in construction products and other industrial applications. Focused on the circular economy, Northstar plans to reprocess used or defective asphalt shingle waste back into its three primary components for reuse/resale with its first commercial scale up facility in Calgary, Alberta. As an emerging innovator in sustainable processing, Northstar's mission aims at leading the recovery and reprocessing of asphalt shingles in North America that would otherwise be sent to landfill addressing numerous stakeholder objectives. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on For further information about Northstar, please visit On Behalf of the Board of Directors, Aidan Mills President & CEO, Director Cautionary Statement on Forward-Looking Information Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. This press release may contain forward–looking information within the meaning of applicable securities legislation, which forward–looking information reflects the Company's current expectations regarding future events. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "aim", "objective" or similar expressions. Forward-looking statements in this press release include statements concerning: (i) Northstar's plans to reprocess used shingles into their component parts in the inaugural commercial facility in Calgary; (ii) operations to commence mid-year 2025; (iii) the ability of the Company to expand into other regions, namely Hamilton, Ontario and the United States; and (iv) Northstar's ability to become a leader in the recovery and reprocessing of asphalt shingles in North America. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including: risks related to factors beyond the control of the Company; inability of the Company to execute on its business plans; the Company may require additional financing which may not be obtainable or on favourable terms; economic uncertainty; and the risks and uncertainties which are more fully described under the heading "Risk Factors" in the Company's annual and quarterly management's discussion and analysis and other filings with the Canadian securities regulatory authorities under the Company's profile on SEDAR+. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company does not undertake any obligation to update such forward–looking information whether because of new information, future events or otherwise, except as expressly required by applicable law. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, expected or aimed. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.
Yahoo
3 days ago
- Business
- Yahoo
Patagonia Gold First Quarter 2025 Financial Results
VANCOUVER, British Columbia, May 30, 2025 (GLOBE NEWSWIRE) -- Patagonia Gold Corp. ('Patagonia' or the 'Company') (TSXV: PGDC) announces its financial results for the quarter ended March 31, 2025 ('Q1 2025'). The financial statements together with the related management's discussion and analysis are available on the Company's website and under the Company's profile on SEDAR+ at Highlights Generated revenue of US$1.2 million in Q1 2025. Produced 613 gold equivalent ounces(1) and sold 418 gold equivalent ounces(1) in Q1 2025. Incurred exploration expenditures of US$0.5 million in Q1 2025 including completion of: A total of 380 meters were drilled in 8 diamond drill holes at Calcatreu, specifically in the Piche Sur, Nelson Sur and Belen W targets - all of which are deemed to have mineral resource expansion potential. A total of 366.1 line-kilometers of geophysics was carried out on the target Masqui in the south of the main Calcatreu block. At La Valenciana, in the province of Santa Cruz, a total of 66 line-kilometers of ground magnetics surveying was completed and a total of 63 rock chip samples were collected from the Veta Principal during Q1 2025. A total of 401.9 line-kilometers of ground magnetics surveying was completed at La Josefina. The Company has commenced construction of the Company's Calcatreu heap leach facility in Rio Negro during Q1 2025. Completion of construction of Calcatreu is targeted for Q4 2025 with first leaching before the end of 2025. Notes:(1) Consisting of 387 gold and 21,060 silver ounces of production and 252 gold and 14,978 silver ounces sold, converted to a gold equivalent using a ratio of the average spot market price for the commodities each period. The ratio for three months ended March 31, 2025 was 90.05:1 (2024 – 88.70:1). Qualified Person's Statement Donald J. Birak, an independent consulting geologist, Registered Member of SME, Fellow of AusIMM, and qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information in this news release. About Patagonia Gold Patagonia Gold Corp. is a South America focused, publicly traded, mining company listed on the TSX Venture Exchange. The Company seeks to grow shareholder value through exploration and development of gold and silver projects in the Patagonia region of Argentina. The Company is primarily focused on the Calcatreu project in Rio Negro and the development of the Cap-Oeste underground project. Patagonia, indirectly through its subsidiaries or under option agreements, has mineral rights to over 375 properties in several provinces of Argentina and is one of the largest landholders in the province of Santa Cruz, Argentina. For more information, please contact: Christopher van Tienhoven, Chief Executive OfficerPatagonia Gold Corp.T: +54 11 5278 6950E: cvantienhoven@ FORWARD-LOOKING STATEMENTS This news release contains certain forward-looking statements, including, but not limited to, statements with respect to, among other things, mineral resource expansion potential; timing for completion of the heap leach facility and commencement of leaching; the advancement and development of gold and silver projects in the Patagonia region of Argentina; and the anticipated growth in shareholder value. Wherever possible, words such as 'may', 'will', 'should', 'could', 'expect', 'plan', 'intend', 'anticipate', 'believe', 'estimate', 'predict' or 'potential' or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
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Strathcona Resources Ltd. Commences Offer to Acquire MEG Energy Corp.
CALGARY, AB, May 30, 2025 /CNW/ - Strathcona Resources Ltd. ("Strathcona") announced today that it has formally commenced its offer (the "Offer") to acquire all of the issued and outstanding common shares of MEG Energy Corp. (TSX: MEG) ("MEG") not already owned by Strathcona or its affiliates for 0.62 of a common share of Strathcona ("Strathcona Share") and $4.10 in cash per common share of MEG ("MEG Share"). The notice and advertisement of the Offer has been placed for publishing in The Globe and Mail and Le Devoir, and the Offer is contained in the Offer to Purchase and Bid Circular (the "Offer and Circular") and related documents, which will be filed today with the Canadian securities regulators on SEDAR+ under MEG's profile at and posted on Strathcona's website. The Offer and Circular will be made available to all MEG shareholders in accordance with applicable securities laws. The Offer is open for acceptance until 5 p.m. (Mountain Time) on Monday, September 15, 2025. Strathcona also announced the execution of an equity commitment letter with Waterous Energy Fund ("WEF"), the holder of 79.6% of the outstanding Strathcona Shares, through certain limited partnerships comprising Waterous Energy Fund III ("WEF III"), pursuant to which WEF III has committed to purchase an additional 21.4 million Strathcona Shares through subscription receipts, conditional upon completion of the Offer. Pursuant to the terms of the equity commitment letter, the investment will be completed at a subscription price of $30.92 per subscription receipt, being equivalent to the price of the Strathcona Shares on May 15, 2025 prior to Strathcona announcing its intention to make the Offer, equating to an incremental investment by WEF in Strathcona of approximately $662 million. To Strathcona's knowledge, this represents the largest investment at one time by a single shareholder, public or private, in the Canadian upstream oil and gas sector since 2014. Adam Waterous, Executive Chairman of Strathcona and CEO of WEF commented, "WEF's major further investment in Strathcona reflects our view that more than eight years into building Strathcona our best years are in front of us. As part of the Offer, we are asking MEG shareholders to join us as fellow shareholders in Strathcona and trust the Strathcona team as stewards of their capital. We therefore believe it is important that we eat our own cooking, ensuring no one will be more focused on increasing Strathcona's value beyond current levels than WEF. We firmly believe Strathcona represents compelling value at this price with a large margin of safety, and that we and the partners in our fund will do very well over the long run." Offer Details The Offer is subject to the satisfaction or, where permitted, waiver of certain conditions, including, without limitation: (a) there having been validly deposited under the Offer and not withdrawn more than 50% of the outstanding MEG Shares (and associated rights under MEG's shareholder rights plan), excluding any MEG Shares beneficially owned, or over which control or direction is exercised, by Strathcona or by any person acting jointly or in concert with Strathcona, which condition cannot be waived by Strathcona; (b) there having been validly deposited under the Offer and not withdrawn MEG Shares (and associated rights under MEG's shareholder rights plan) which represent, together with the MEG Shares held by Strathcona, at least 66⅔% of the outstanding MEG Shares (on a fully-diluted basis); (c) no material adverse change having occurred in respect of the business, affairs, assets, operations or prospects of MEG; (d) all required governmental, regulatory and stock exchange approvals, or expiry, waiver or termination of any waiting or suspension period imposed, with respect to the Offer, including, without limitation, pursuant to the Competition Act (Canada) and the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the approval of the TSX with respect to the issuance and listing of the Strathcona Shares issuable pursuant to the Offer, having been obtained; (e) the Registration Statement (as defined below) having become effective under the U.S. Securities Act (as defined below), and not becoming subject to a stop order or a proceeding seeking a stop order; (f) MEG not having taken certain actions that could reasonably be expected to reduce the anticipated economic value to Strathcona of the Offer or impair the ability of Strathcona to proceed with the Offer; (g) Strathcona having obtained the requisite approval of the Strathcona shareholders with respect to the issuance of the Strathcona Shares under the Offer pursuant to the rules of the TSX; and (h) other customary conditions. The Offer is not subject to any due diligence or financing condition, with the cash consideration payable under the Offer to be funded pursuant to a bridge financing commitment from a syndicate of lenders (the "Bridge Financing Commitment"), subject to the terms and conditions of such financing. If the conditions of the Offer are satisfied or, where permitted, waived at the expiry time of the Offer and Strathcona takes up and pays for the MEG Shares validly deposited under the Offer, Strathcona intends to acquire any MEG Shares not deposited under the Offer through a compulsory acquisition pursuant to the Business Corporations Act (Alberta), if available, or to propose an amalgamation, statutory arrangement or other transaction for the purpose of MEG becoming, directly or indirectly, a wholly-owned subsidiary or affiliate of Strathcona, in each case for consideration per MEG Share at least equal in value to and in the same form as the consideration paid by Strathcona per MEG Share under the Offer. The exact timing and details of any such transaction will depend upon a number of factors, including, without limitation, the number of MEG Shares acquired pursuant to the Offer. Strathcona encourages MEG shareholders to read the full details of the Offer set forth in the Offer and Circular, which contains the full terms and conditions of the Offer and other important information as well as detailed instructions on how MEG shareholders can deposit their MEG Shares to the Offer. Shareholders who have questions or require assistance in depositing MEG Shares to the Offer should contact the Information Agent, Laurel Hill Advisory Group, by email at assistance@ or by phone at 1-877-452-7184 (Toll-Free). Copies of the Offer and Circular, once filed, will be available without charge on request from Strathcona by email at info@ or by phone at (403) 930-3000 or by contacting Laurel Hill Advisory Group per the instructions set forth above. In connection with the Offer, Strathcona will file relevant materials with the U.S. Securities and Exchange Commission (the "SEC"), including a registration statement on Form F-10 (the "Registration Statement") under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), which will include the Offer and Circular and other documents related to the Offer. This news release is not a substitute for the Registration Statement, the Offer and Circular or any other relevant documents filed with the applicable Canadian securities regulatory authorities or the SEC. MEG shareholders and other interested parties are urged to read the Registration Statement, the Offer and Circular, all documents incorporated by reference therein, all other applicable documents and any amendments or supplements to any such documents when they become available, because they will contain important information about Strathcona, MEG and the Offer. When they become available, the Registration Statement, Offer and Circular and other materials filed by Strathcona with the SEC will be available electronically without charge at the SEC's website at When available, the Registration Statement, Offer and Circular, documents incorporated by reference therein and other relevant documents may also be obtained on request without charge from Strathcona or by contacting Laurel Hill Advisory Group per the instructions set forth above. WEF III Equity Investment Details Pursuant to an equity commitment letter dated May 29, 2025, WEF III has committed to subscribe for and purchase 21.4 million subscription receipts of Strathcona ("Strathcona Subscription Receipts") at a price of $30.92 per Strathcona Subscription Receipt for aggregate proceeds to Strathcona of approximately $662 million (the "WEF III Equity Investment"). Each Strathcona Subscription Receipt will entitle WEF III to receive, automatically upon, among other specified circumstances, the take-up of MEG Shares deposited under the initial deposit period for the Offer, one Strathcona Share. The Strathcona Shares issuable upon conversion of the Strathcona Subscription Receipts represent approximately 9.99% of the Strathcona Shares issued and outstanding as of May 29, 2025. The subscription price of the Strathcona Subscription Receipts and other terms and conditions of the WEF III Equity Investment were determined in accordance with the rules of the TSX with reference to the five-day volume weighted average price of the Strathcona Shares on the TSX immediately prior to and including May 29, 2025 and through negotiations between WEF III and a special committee comprised of independent directors of Strathcona (the "Special Committee") that was established in connection with the WEF III Equity Investment. The subscription price of $30.92 per Strathcona Subscription Receipt is equal to the closing price of the Strathcona Shares on the TSX on May 15, 2025, prior to Strathcona announcing its intention to make the Offer, and reflects a 7% premium to the five-day volume weighted average price of the Strathcona Shares on the TSX immediately prior to and including May 29, 2025. The proceeds of the WEF III Equity Investment will be held in escrow by a subscription receipt agent and released to, or at the direction of, Strathcona concurrently upon Strathcona taking up MEG Shares at the expiration of the initial deposit period for the Offer, and will be used by Strathcona to reduce a portion of the amount funded under the Bridge Financing Commitment and pay a portion of the cash consideration payable under the Offer. In the event that Strathcona withdraws or terminates the Offer, and has not substantially concurrently entered into a definitive agreement to acquire MEG, the proceeds of the WEF III Equity Investment will be returned to WEF III. The completion of the WEF III Equity Investment is subject to the satisfaction or waiver of certain customary conditions and is expected to be completed no later than July 13, 2025, being the date that is 45 days from the date of the equity commitment letter. The Offer is not conditional on the closing of the WEF III Equity Investment. Strathcona Shareholder Approval Strathcona expects to issue up to an aggregate of approximately 145 million Strathcona Shares pursuant to the Offer, consisting of 143 million Strathcona Shares issuable for MEG Shares deposited pursuant to the Offer and 2 million Strathcona Shares issuable for the MEG Shares issued upon settlement of certain security-based compensation awards of MEG, representing, in the aggregate, approximately 68% of the 214,235,608 Strathcona Shares issued and outstanding as at the date hereof. Strathcona expects to issue an additional 21.4 million Strathcona Shares upon conversion of the Strathcona Subscription Receipts issued pursuant to the WEF III Equity Investment. Under Section 611 of the TSX Company Manual, the issuance of approximately 169.3 million Strathcona Shares (the "Strathcona Share Issuance"), comprised of 145 million Strathcona Shares issuable in respect of the Offer, 21.4 million Strathcona Shares issuable in respect of the WEF III Equity Investment and 2.9 million Strathcona Shares to account for clerical and administrative matters as permitted under the rules of the TSX, requires the approval of Strathcona shareholders, as the maximum number of Strathcona Shares issuable pursuant to the Offer exceeds 25% of the total number of outstanding Strathcona Shares. Pursuant to Section 604(d) of the TSX Company Manual, WEF, as the holder of more than 50% of the votes attached to the outstanding Strathcona Shares, has delivered to the TSX its written consent for the issuance of up to 169.3 million Strathcona Shares in respect of the Strathcona Share Issuance in satisfaction of such shareholder approval requirement, in lieu of a duly called meeting of security holders. The TSX will generally not require further security holder approval for the issuance of up to, approximately, an additional 36.975 million Strathcona Shares, such number being 25% of the number of Strathcona Shares approved by security holders in connection with the Offer. The Offer is being effected at arm's length and the issuance of Strathcona Shares is not expected to materially affect control of Strathcona. Assuming acquisition of all MEG Shares under the Offer and any second stage transaction, and upon completion of the WEF III Equity Investment, WEF is expected to own approximately 51% of the then issued and outstanding Strathcona Shares. The WEF III Equity Investment and the Offer are expected to close not earlier than five business days after dissemination of this press release. Advisors Scotiabank and TD Securities are acting as exclusive financial advisors to Strathcona in connection with the Offer. Blake, Cassels & Graydon LLP and Skadden, Arps, Slate, Meagher & Flom LLP are acting as legal counsel to Strathcona in connection with the Offer. The Special Committee has engaged Torys LLP, and WEF has engaged Bennett Jones LLP, to act as their respective legal counsel in connection with the WEF III Equity Investment. Strathcona has also engaged Laurel Hill Advisory Group to act as strategic communications advisor and information agent in connection with the Offer. MEG shareholders may contact Laurel Hill Advisory Group by email at assistance@ or by phone at 1-877-452-7184 (Toll-Free). About Strathcona Strathcona is one of North America's fastest growing oil producers with operations focused on thermal oil and enhanced oil recovery. Strathcona is built on an innovative approach to growth achieved through the consolidation and development of long-life oil and gas assets. The Strathcona Shares are listed on the Toronto Stock Exchange (TSX: SCR). Website addresses are provided for informational purposes only and no information contained on, or accessible from, such websites is incorporated by reference in this news release unless expressly incorporated by reference. No Offer or Solicitation This news release is for informational purposes only and does not constitute an offer to buy or sell, or a solicitation of an offer to sell or buy, any securities. The Offer to acquire MEG Shares and issue Strathcona Shares in connection therewith is made solely by, and subject to the terms and conditions set out in, the Offer and Circular and accompanying letter of transmittal and notice of guaranteed delivery. The Offer and Circular and the related documents, contain important information about the Offer and should be read in its entirety by MEG shareholders. Forward-Looking Information This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of applicable U.S. securities laws (collectively, "forward-looking information") and are prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events, and is therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking information. Often, but not always, forward-looking information can be identified by the use of forward-looking words such as "believes", "plans", "expects", "intends" and "anticipates", or variations of such words, and phrases or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information contained in this news release includes, but is not limited to, the expected delivery of the Offer and Circular; statements regarding Strathcona's future performance and prospects, including that the best years of Strathcona are in front of it, Strathcona's intentions with respect to the financing of the cash consideration payable under the Offer, including the expected reduction of the Bridge Financing Commitment by virtue of the WEF III Equity Investment; expectations with respect to the terms and timing of the WEF III Equity Investment; Strathcona's intention to acquire any MEG Shares not deposited under the Offer for the purpose of MEG becoming, directly or indirectly, a wholly-owned subsidiary or affiliate of Strathcona. Although Strathcona believes that the expectations reflected by the forward-looking information presented in this news release are reasonable, the forward-looking information is based on assumptions and factors concerning future events that may prove to be inaccurate. Those assumptions and factors are based on information currently available to Strathcona about itself and MEG and the businesses in which they operate. Information used in developing forward-looking information has been acquired from various sources, including third party consultants, suppliers and regulators, among others. The material assumptions used to develop the forward-looking information herein include, but are not limited to: the ability of Strathcona to complete the combination of Strathcona and MEG, pursuant to the Offer or otherwise, integrate Strathcona's and MEG's respective businesses and operations and realize the anticipated strategic, operational and financial benefits and synergies from the acquisition of MEG by Strathcona; the conditions of the Offer will be satisfied on a timely basis in accordance with their terms; MEG's public disclosure is accurate and that MEG has not failed to publicly disclose any material information respecting MEG, its business, operations, assets, material agreements or otherwise; there will be no material changes to laws and regulations adversely affecting Strathcona's or MEG's operations or the Offer; and the availability of delivery services in respect of the mailing of the Offer and Circular. Because actual results or outcomes could differ materially from those expressed in any forward-looking information, readers should not place undue reliance on any such forward-looking information. By its nature, forward-looking information is based on assumptions and involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking information. Factors that could cause actual events to differ materially from those contemplated or implied by the forward-looking information in this news release include, but are not limited to, an inability to procure regulatory approvals in a timely manner or on terms satisfactory to Strathcona; new or changing laws and regulations (domestic and foreign); the risk of failure to satisfy the conditions to the Offer; the risk that the anticipated synergies and other benefits of the Offer may not be realized; and an inability to procure delivery services and the impacts caused by a postal strike. In addition, readers are cautioned that the actual results of Strathcona following the successful completion of the Offer may differ materially from the expectations expressed herein as a result of a number of additional risks and uncertainties. Some of these risks, uncertainties and other factors are similar to those faced by other oil and gas companies and some are unique to Strathcona. Strathcona's annual information form for the year ended December 31, 2024 and other documents filed by Strathcona with the applicable Canadian securities regulatory authorities (available under Strathcona's profile on SEDAR+ at further describe risks, material assumptions and other factors that could influence actual results. The forward-looking information contained in this news release is provided as of the date hereof and Strathcona does not undertake any obligation to update or to revise any of the forward-looking information included herein, except as required by applicable securities laws. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. View original content to download multimedia: SOURCE Strathcona Resources Ltd. View original content to download multimedia: Sign in to access your portfolio
