Vision Marine Technologies Announces Settlement of Outstanding Legal Claim
This resolution fully addresses a legal dispute, providing the Company with a clean capitalization structure. In addition, after the resolution Vision Marine believes it maintains a strong cash position, supporting the Company's liquidity to facilitate ongoing business operations, strategic initiatives, and prospective expansion efforts.
Alex Mongeon, CEO of Vision Marine, commented, "We are pleased to announce this resolution, which marks an important milestone for Vision Marine. This settlement allows us to fully focus on executing our strategic objectives and accelerating growth in the rapidly expanding electric marine sector."
About Vision Marine Technologies, Inc.
Vision Marine Technologies Inc. (NASDAQ:VMAR) designs and manufactures cutting-edge electric propulsion systems and complete electric boat solutions. The Company's flagship E-Motion™ 180E powertrain is a market-proven, purpose-built, high-voltage electric marine propulsion system powering vessels such as the V30 180 HP Electric Pontoon, now available for order. Vision Marine collaborates with industry-leading original equipment manufacturers to accelerate the adoption of powerful, maintenance-friendly electric boating solutions worldwide.
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements." These statements include, but are not limited to, expectations regarding the benefits of the new patent, its impact on future product development and original equipment manufacturer integrations, and Vision Marine's competitive position. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that could affect results are discussed in the Company's filings with the Securities and Exchange Commission. Vision Marine undertakes no obligation to update any forward-looking statements except as required by law.
Investor & Company Contact
Vision Marine TechnologiesBruce Nurse - Investor Relations(303) 919-2913bn@v-mti.com
Website: visionmarinetechnologies.comTwitter: @marine_visionFacebook: @VisionMarineTechnologiesInstagram: @visionmarine.technologiesYouTube: @VisionMarineTechnologies
SOURCE: Vision Marine Technologies Inc
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
VisionWave Technologies Inc. and Bannix Acquisition Corp. Complete Business Combination
VisionWave Holdings Inc. to Commence Trading on Nasdaq Under Ticker 'VWAV' VisionWave Technologies Inc. and Bannix Acquisition Corp. Have Closed the Business Combination on July 14, 2025 VisionWave Holdings Inc. Shares of Common Stock and Warrants Will Begin Trading on Nasdaq on July 15, 2025, Under Ticker Symbols 'VWAV' and 'VWAVW,' Respectively WILMINGTON, Del., July 14, 2025 (GLOBE NEWSWIRE) -- VisionWave Technologies Inc. ('VisionWave Technologies'), a defense development company focused on integrating advanced artificial intelligence and autonomous solutions across air, ground, and sea domains ranging from high-resolution radars and advanced vision systems to radio frequency sensing technologies seeking to redefine operational efficiency and precision for military and homeland security applications worldwide, today announced the successful completion of its business combination (the 'Business Combination') with Bannix Acquisition Corp. (Nasdaq: BNIX) ('BNIX'), a special purpose acquisition company, resulting in each of VisionWave Technologies and BNIX becoming a wholly-owned subsidiary of VisionWave Holdings Inc. ('VisionWave Holdings' or the 'Combined Company'). On July 15, 2025, VisionWave Holdings shares of common stock will commence trading on the Nasdaq Global Market under the trading symbol 'VWAV' and its warrants will trade on under the trading symbol 'VWAVW.' 'Completing the Business Combination and having our shares listed on the Nasdaq Global Market is a significant achievement for the VisionWave team, and we are grateful to our employees and partners who have supported us on this journey as we begin our next chapter as we seek to develop new and cutting technologies in the defense sector,' said Douglas Davis, Executive Chairman of VisionWave Holdings. 'We believe this milestone will provide us with the tools to develop our technology and implement our business plan. We are excited to continue to seek building value for all stakeholders.' 'This is a defining moment for VisionWave,' said Noam Kenig, Chief Executive Officer of VisionWave Holdings. 'As we enter the public markets, our focus is on accelerating innovation in defense-grade AI systems, pursuing strategic global partnerships, and delivering on contracts that will shape the next generation of military technologies. I'm honored to lead the company into this exciting new chapter.' Advisors Fleming PLLC served as legal counsel to BNIX. Law Office of Robert M. Yaspan served as legal counsel to VisionWave Technologies. RBSM LLP served as the Auditor to VisionWave Holdings. Donohoe Advisory Associate, LLC served as Listing Advisor to VisionWave Holdings. Marula Capital Group a registered FINRA advisor provided the Fairness Opinion to the Business Combination. I-Bankers Securities, Inc., the underwriter in the original IPO. About VisionWave Holdings Inc. VisionWave Holdings Inc. is at the forefront of revolutionizing defense capabilities by integrating advanced artificial intelligence (AI) and autonomous solutions across air, ground, and sea domains. Its state-of-the-art innovations— ranging from high-resolution radars and advanced vision systems to radio frequency (RF) sensing technologies are seeking to redefine operational efficiency and precision for military and homeland security applications worldwide. From tactical ground vehicles to precision weapon control systems, VisionWave leads the development of reliable, high-performance technologies that transform defense strategies and deliver superior results, even in the most challenging environments. With headquarters in the U.S. and strategic partnerships in Canada and the United Arab Emigrants, VisionWave is uniquely positioned to serve global markets, offering cutting-edge defense solutions that address the evolving needs of security forces across the world. For more corporate and product information, please visit our website About Bannix Acquisition Corp. Bannix Acquisition Corp. is a blank check company, also commonly referred to as a Special Purpose Acquisition Company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Forward-Looking Statements This press release includes 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as 'estimate,' 'plan,' 'project,' 'forecast,' 'intend,' 'will,' 'expect,' 'anticipate,' 'believe,' 'seek,' 'target' or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements also include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the estimated implied enterprise value of the Combined Company, VisionWave Holdings' ability to scale and grow its business, the advantages and expected growth of the Combined Company, the Combined Company's ability to source and retain talent, and the cash position of the Combined Company following closing of the Business Combination, as applicable. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of BNIX's and VisionWave Technologies' management and are not predictions of actual performance. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by these forward-looking statements. Although each of BNIX, VisionWave Technologies and VisionWave Holdings believes that it has a reasonable basis for each forward-looking statement contained in this press release, each of BNIX, VisionWave Technologies and VisionWave Holdings cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there are risks and uncertainties described in the definitive proxy statement/prospectus mailed to BNIX stockholders, and filed by the Combined Company with the SEC and other documents filed by the Combined Company or BNIX from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. BNIX, VisionWave Technologies and VisionWave Holdings cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, the ability to recognize the anticipated benefits of the Business Combination, costs related to the Business Combination, the risk that the Business Combination disrupts current plans and operations as a result of the announcement and consummation of the Business Combination, the outcome of any potential litigation, government or regulatory proceedings, and other risks and uncertainties, including those to be included under the heading 'Risk Factors' in the definitive proxy statement/prospectus mailed to BNIX stockholders, and those included under the heading 'Risk Factors' in the annual report on Form 10-K for the fiscal year ended December 31, 2024, of BNIX and in its subsequent quarterly reports on Form 10-Q and other filings with the SEC. There may be additional risks that BNIX, VisionWave Technologies and VisionWave Holdings presently do not know or that the parties currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of BNIX, VisionWave Technologies and VisionWave Holdings as of the date of this press release. Subsequent events and developments may cause those views to change. However, while BNIX, VisionWave Technologies and VisionWave Holdings may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of BNIX, VisionWave Technologies and VisionWave Holdings as of any date subsequent to the date of this press release. Except as may be required by law, BNIX, VisionWave Technologies and VisionWave Holdings do not undertake any duty to update these forward-looking statements. VisionWave Holdings Investor Relations: Douglas Davis, Executive Chairman of the Board(302) in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Elong Power Receives Nasdaq Notification of Non-Compliance With Listing Rule 5250(c)(1)
Beijing, China, July 14, 2025 (GLOBE NEWSWIRE) -- Elong Power Holding Limited ('Elong Power' or the 'Company') (Nasdaq: ELPW), a provider of high power battery technologies for commercial and specialty alternative energy vehicles and energy storage systems, today announced that it had received a notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC ('Nasdaq') stating that, because it had not yet filed its Form 20-F for the fiscal year ended December 31, 2024 (the 'Form 20-F'), it no longer complied with Nasdaq Listing Rule 5250(c)(1) (the 'Rule'), which requires that listed companies timely file all required periodic financial reports with the Securities and Exchange Commission (the "SEC"). The Company has 60 calendar days from receipt of the notice to submit to Nasdaq a plan to regain compliance with the Rule. If Nasdaq accepts the Company's plan, then Nasdaq may grant the Company an exception of up to 180 calendar days from the Form 20-F's due date, or until October 17, 2025. If Nasdaq does not accept the Company's plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel. The Company is working diligently on the Form 20-F and intends to file it within the time period specified above. The notice has no effect at this time on the listing of the Company's Ordinary Shares, which will continue to trade uninterrupted under the symbol 'ELPW'. However, if the Company fails to regain compliance with the Rule, the Company's common stock will be subject to delisting from Nasdaq. About Elong Power Elong Power Holding Limited, a Cayman Islands exempted company, is committed to the research and development, manufacturing, sales and service of high-power lithium-ion batteries for electric vehicles and construction machinery, as well as large-capacity, long-cycle lithium-ion batteries for energy storage systems. Elong Power is led by Ms. Xiaodan Liu, Elong Power's Chairwoman and CEO. Elong Power has a comprehensive product and technology system that includes battery cells, modules, system integration, and battery management system development, based on high-power lithium-ion batteries and battery system products for long-cycle energy storage devices. Elong Power offers advanced energy applications and full life cycle services. Its product portfolio includes products utilizing lithium manganese oxide and lithium iron phosphate, among others, to meet the needs of high-power applications and energy storage applications in various scenarios. Forward-looking Statements This press release may contain 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the benefits of the transaction, the anticipated timing of the transaction, the products offered by Elong Power and the markets in which it operates, and Elong Power's projected future results. These forward-looking statements generally are identified by the words 'believe,' 'project,' 'expect,' 'anticipate,' 'estimate,' 'intend,' 'strategy,' 'future,' 'opportunity,' 'plan,' 'may,' 'should,' 'will,' 'would,' 'will be,' 'will continue,' 'will likely result,' and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including, but not limited to: the ability of Elong Power to maintain the listing of its securities on Nasdaq; the fact that the price of Elong Power's securities may be volatile due to a variety of factors, including changes in the competitive and highly regulated industries in which Elong Power operates; variations in performance across competitors; changes in laws and regulations affecting Elong Power's business and changes in its capital structure; the ability to implement business plans, meet forecasts and other expectations; its need for substantial additional funds; the parties' dependence on third-party suppliers; risks relating to the results of research and development activities, market and other conditions; its ability to attract, integrate, and retain key personnel; risks related to its growth strategy; risks related to patent and intellectual property matters; and the ability to obtain, perform under and maintain financing and strategic agreements and relationships. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements. Risks regarding Elong Power's business are described in detail in Elong Power's SEC filings which are available on the SEC's website at including in Elong Power's Shell Company Report on Form 20-F and Elong Power's subsequent filings with the SEC. These forward-looking statements speak only as of the date hereof, and Elong Power expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law. Elong Power Investor Contact ir@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hamilton Spectator
an hour ago
- Hamilton Spectator
S&P/TSX composite hits new highs, U.S. markets up amid trade uncertainty
TORONTO - Canada's main stock index closed at a record high on Monday on strength in industrials and technology, while U.S. markets also rose. The S&P/TSX composite index was up 175.60 points at 27,198.85. U.S. stock indexes hung near their records on Monday after U.S. President Donald Trump's latest updates to his tariff plans, as speculation continues on Wall Street that he may ultimately back down. The S&P 500 edged up to pull within 0.2 per cent of its all-time high set on Thursday, finishing the day up 8.81 points at 6,268.56. The Dow Jones industrial average was up 88.14 points at 44,459.65, while the Nasdaq composite was up 54.80 points at 20,640.33. Trump announced plans over the weekend for 30 per cent tariffs on goods from Mexico and the European Union. They won't take effect until Aug. 1, the same date that Trump announced last week for updated tax rates on imports from Japan, South Korea and other countries — including Canada. 'Over the weekend, we heard the U.S. administration was talking about tariffs again. Which in the old days used to get people riled up,' said Michael Currie, senior investment adviser at TD Wealth. He added that it's important to note that many market-watchers aren't expecting tariffs to disappear, but there is 'more of a sense' that there will be negotiations and deals will occur. The latest postponements for Trump's tariffs allow more time for him to reach trade deals with other countries that could lower the rates and prevent some pain for international trade. They also feed into speculation that Trump may ultimately back down on his tariffs if they end up creating too much damage for the economy and for financial markets. 'About two (or) three months ago, when the U.S. came out and announced a certain amount of tariffs, instantly the EU was saying, 'Here's our counter tariffs.' And this time, they just said, 'No counter tariffs, let's just chat and negotiate,' Currie said. 'So it's a very, very different sentiment out there.' As the tech sector helped to power the TSX to new highs, shares of Thomson Reuters Corp. finished 7.74 per cent higher. Currie said it was unclear what was driving the share moves, since the Toronto-based company isn't scheduled to report earnings until Aug. 6. 'I'll just take it as very happy positive news, driving the TSX up, and it's a very widely held retail stock,' he said. Companies are also lining up to report how they performed during the spring. J.P. Morgan Chase and several other major U.S. banks will report their latest quarterly results on Tuesday. The Canadian dollar traded for 73.03 cents US compared with 73.08 cents US on Friday. The August crude oil contract was down US$1.47 at US$66.98 per barrel. The August gold contract was down US$4.90 at US$3,359.10 an ounce. This report by The Canadian Press was first published July 14, 2025. — With files from The Associated Press. Companies in this story: (TSX:GSPTSE, TSX:CADUSD, TSX: TRI)
