logo
DevvStream Announces Initial Crypto Treasury Portfolio and Appoints Custodian and Consultant

DevvStream Announces Initial Crypto Treasury Portfolio and Appoints Custodian and Consultant

Business Wire3 days ago
CALGARY, Alberta--(BUSINESS WIRE)--DevvStream Corp. (Nasdaq: DEVS) (' DevvStream ' or the ' Company '), a leading carbon management firm specializing in the development, investment, and sale of environmental assets, today announced the initial composition of its crypto treasury portfolio, along with the appointment of BitGo Trust Company (' BitGo ') as qualified custodian and FRNT Financial Inc as digital treasury consultant.
DevvStream is deploying a forward-looking crypto treasury strategy designed to combine institutional-grade liquidity with exposure to programmable sustainability, with real-world asset (' RWA ') tokenization as a core investment thesis. The Company's treasury portfolio will initially include Bitcoin ($BTC), Solana ($SOL), and DevvE ($DEVVE), representing its dual approach to its digital asset strategy.
Bitcoin ($BTC): Selected as the foundational asset of the digital economy, providing unparalleled security and market liquidity.
Solana ($SOL): Chosen for its exceptional transaction speed and large-scale ecosystem, offering stable yield and deep liquidity for treasury management.
DevvE ($DEVVE): A programmable digital asset that combines DeFi innovation and utility with the safety and security that traditional finance requires, enabling the Company's 'impact-layer tokenization' strategy.
'Our treasury model isn't just about holding crypto. It's about aligning capital with our mission,' said Sunny Trinh, CEO of DevvStream. 'Our mix of assets is designed to deliver institutional-grade efficiency and income, while bridging to sustainability tokenization and real-world asset integration. Together, they position DevvStream at the intersection of liquidity, innovation, and impact.'
DevvStream expects to continue expanding its digital asset portfolio as part of its broader strategy to fund sustainable infrastructure, tokenize real-world environmental assets, and provide investors with diversified exposure to the emerging digital–environmental economy.
About DevvStream
Founded in 2021, DevvStream is a leading carbon management firm specializing in the development, investment, and sale of environmental assets, energy transition, and innovative carbon management solutions. The Company's mission is to create alignment between sustainability and profitability, helping organizations achieve their climate initiatives while directly improving their financial health.
With a diverse approach to energy transition and carbon markets, DevvStream operates across three strategic domains: (1) an offset portfolio consisting of nature-based, tech-based, and carbon sequestration credits for immediate sale to corporations and governments seeking to offset their most difficult-to-reduce emissions; (2) project investment, acquisitions, and industry consolidation to extend the company's reach, allowing it to become a full end-to-end solutions provider; and (3) project development, where the company serves as project manager for eligible activities such as EV charging or renewable energy generation in exchange for a percentage of generated credits or I-RECs.
For more information, please visit www.devvstream.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this news release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and generally relate to future events, trends or DevvStream's future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as 'may', 'should', 'expect', 'intend', 'will', 'estimate', 'anticipate', 'believe', 'predict', 'potential' or 'continue', or the negatives of these terms or variations of them or similar terminology. These forward-looking statements include statements regarding DevvStream's intentions, beliefs, projections, outlook, analyses and current expectations concerning, among other things, DevvStream's ability to continue as a going concern and to realize the benefits of its recently completed business combination, DevvStream's ability to remain listed on Nasdaq, the volatility of the market price and the liquidity of DevvStream's common shares, the impact from future regulatory, judicial, legislative or regulatory changes in DevvStream's industry, the trends in the carbon credit markets, future performance and anticipated financial impacts of certain transactions by DevvStream or others, the growth and value of the global carbon credit or I-REC market traded value, the potential of carbon credits to provide carbon emission reductions and reduce carbon emissions to limit global warming, estimated CO2 capture, sequestration, decarbonization or storage capacities or potentials of different projects in which DevvStream is investing, DevvStream's opportunity pipeline and the ability of such opportunities to generate I-RECs, carbon credits, tax credits, or shared savings revenue each year, and the market growth and value of these markets, all of which are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to the risks set forth in the Company's most recent Form 10-K, 10-Q and other SEC filings which are available through EDGAR at WWW.SEC.GOV. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by DevvStream and its management are inherently uncertain and subject to material change. Given these risks, uncertainties, and other factors, you should not place undue reliance on these forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties.
These forward-looking statements are expressed in good faith, and DevvStream believes there is a reasonable basis for them. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and DevvStream is under no obligation, and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. Readers should carefully review the statements set forth in filings made by, or to be made by, DevvStream from time to time with the SEC and with the Canadian securities regulatory authorities. This news release is not an offer to sell or the solicitation of an offer to buy, any securities of DevvStream and this news release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in DevvStream. All subsequent written and oral forward-looking statements concerning DevvStream or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Phio Pharmaceuticals Announces Exercise of Warrants for Approximately $2.5 Million Gross Proceeds
Phio Pharmaceuticals Announces Exercise of Warrants for Approximately $2.5 Million Gross Proceeds

Yahoo

time2 minutes ago

  • Yahoo

Phio Pharmaceuticals Announces Exercise of Warrants for Approximately $2.5 Million Gross Proceeds

King of Prussia, Pennsylvania--(Newsfile Corp. - July 25, 2025) - Phio Pharmaceuticals Corp. (NASDAQ: PHIO), a clinical-stage siRNA biopharmaceutical company developing therapeutics using its proprietary INTASYL® gene silencing technology to eliminate cancer, today announced the entry into definitive agreements to exercise certain outstanding warrants to purchase up to an aggregate of 928,596 shares of common stock of the Company originally issued in December 2024 and January 2025, having exercise prices between $2.00 and $3.00 per share. Warrants to purchase 100,000 shares of common stock at the existing exercise price of $2.00 per share will be exercised at their existing exercise price of $2.00 per share and warrants to purchase 828,596 shares of common stock will be exercised at a reduced exercise price of $2.485 per share. The shares of common stock issuable upon exercise of the warrants are registered pursuant to effective registration statement on Form S-1 (No. 333-284381). The gross proceeds to the Company from the exercise of the warrants are expected to be approximately $2.5 million, prior to deducting placement agent fees and offering expenses. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. In consideration for the immediate exercise of the warrants for cash and the payment of additional $0.125 per new unregistered warrant (additional $232,149 in the aggregate, which are included in the gross proceeds to the Company), the exercising holders will receive new unregistered warrants to purchase shares of common stock in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the "1933 Act"). The new warrants will be exercisable for an aggregate of up to 1,857,192 shares of common stock, at an exercise price of $2.485 per share and will be immediately exercisable upon issuance and (i) will have a term of twenty-four months with respect to new warrants to purchase up to 1,538,596 shares of common stock and (ii) will have a term of five years with respect to new warrants to purchase up to 318,596 shares of common stock, in each case, following the effective date of the resale registration statement registering the shares of common stock issuable upon exercise of the new warrants. The offering is expected to close on or about July 28, 2025, subject to satisfaction of customary closing conditions. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes. The new warrants described above were offered in a private placement pursuant to an applicable exemption from the registration requirements of the 1933 Act and, along with the shares of common stock issuable upon their exercise, have not been registered under the 1933 Act, and may not be offered or sold in the United States absent registration with the SEC or an applicable exemption from such registration requirements. The securities were offered only to accredited investors. The Company has agreed to file a registration statement with the SEC covering the resale of the shares of common stock issuable upon exercise of the new warrants. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. About Phio Pharmaceuticals Corp. Phio Pharmaceuticals Corp. (NASDAQ: PHIO) is a clinical-stage siRNA biopharmaceutical company advancing its INTASYL® gene silencing technology focused on immuno-oncology therapeutics. Phio's INTASYL compounds are designed to enhance the body's immune cells to more effectively kill cancer cells. Phio's lead clinical program is an INTASYL compound, PH-762, that silences the PD-1 gene implicated in various forms of skin cancer. The on-going Phase 1b trial (NCT# 06014086) is evaluating PH-762 for the treatment of cutaneous squamous cell carcinoma, melanoma and Merkel cell carcinoma. PH-762 is a potential non-surgical treatment for skin cancers. For additional information, visit the Company's website, Forward-Looking Statements completion of the offering, the satisfaction of customary closing conditions related to the offering and the anticipated use of proceeds therefrom. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "intends," "believes," "anticipates," "indicates," "plans," "expects," "suggests," "may," "would," "should," "potential," "designed to," "will," "ongoing," "estimate," "forecast," "target," "predict," "could" and similar references, although not all forward-looking statements contain these words. Examples of forward-looking statements contained in this press release include, among others, the completion of the offering, the satisfaction of customary closing conditions related to the offering and the anticipated use of proceeds therefrom. These statements are based only on our current beliefs, expectations and assumptions and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results may differ materially from those indicated in the forward-looking statements as a result of a number of important factors, including, but not limited to, the impact to our business and operations by inflationary pressures, rising interest rates, recession fears, the development of our product candidates, results from our preclinical and clinical activities, our ability to execute on business strategies, our ability to develop our product candidates with collaboration partners, and the success of any such collaborations, the timeline and duration for advancing our product candidates into clinical development, the timing or likelihood of regulatory filings and approvals, the success of our efforts to commercialize our product candidates if approved, our ability to manufacture and supply our product candidates for clinical activities, and for commercial use if approved, the scope of protection we are able to establish and maintain for intellectual property rights covering our technology platform, our ability to obtain future financing, market and other conditions and those identified in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q under the caption "Risk Factors" and in other filings the Company periodically makes with the SEC. Readers are urged to review these risk factors and to not act in reliance on any forward-looking statements, as actual results may differ from those contemplated by our forward-looking statements. Phio does not undertake to update forward-looking statements to reflect a change in its views, events or circumstances that occur after the date of this release, except as required by law. Contact:Phio Pharmaceuticals Phillips: jphillips@ Affairs To view the source version of this press release, please visit Error 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

Saia beginning to shake off growing pains
Saia beginning to shake off growing pains

Yahoo

time2 minutes ago

  • Yahoo

Saia beginning to shake off growing pains

The 2025 first quarter could be the operational nadir for less-than-truckload carrier Saia. The company reported sequential improvement in second-quarter financial results on Friday as it appears to have a better handle on costs following a significant expansion to its terminal footprint. Saia (NASDAQ: SAIA) had 21 more facilities in the second quarter than it did a year ago. The added costs weighed on results as the carrier is still in the process of matching head count to volumes. The Johns Creek, Georgia-based company reported second-quarter earnings per share of $2.67 before the market opened on Friday. The result was 28 cents ahead of the consensus estimate and 81 cents better than the first quarter. However, on a year-over-year comparison, EPS was down $1.16, with the bulk of the deterioration tied to startup costs at new locations. Higher interest expense (debt used to fund the terminal purchases pushed net debt $125 million higher y/y) and a slightly higher tax rate combined for a 10-drag on the quarter. Tonnage comps get tougher after 22-month run Saia reported second-quarter revenue of $817 million, a less than 1% y/y decline but $9 million ahead of analysts' expectations. Tonnage increased 1% y/y, the result of a 3% decline shipments, which was offset by a 4% increase in weight per shipment. On a y/y comparison, tonnage was 4.4% higher in April, down 0.4% in May and off 0.8% in June. Tonnage is flat y/y so far in July. The y/y comparisons are now more formidable for Saia following 22 consecutive months of gains, which began just ahead of Yellow Corp.'s July 2023 collapse. Saia faces positive y/y comps ranging from mid-single- to low-double-digits for the rest of the year. The remaining third-quarter comps include y/y increases of 8% and 10% in August and September, respectively. The carrier noted an unfavorable sequential mix shift toward lighter, retail freight at national accounts. (Weight per shipment was down 2% from the first quarter.) Also, it had less freight originating in Los Angeles, which pushed length of haul 1% lower sequentially. Revenue per hundredweight, or yield, was down 2% y/y (1% lower excluding fuel surcharges). The y/y increase in shipment weights was a drag on the yield metric and only partially offset by a 1% y/y increase in length of haul. The carrier was also up against a plus-9% yield comp from a year ago. Contacts renewed 5.1% higher on average in the quarter, a step down from a 6.1% average in the first quarter. Contract renewals, too, are comping mid- to high-single-digit increases from a year ago. Operating ratio recovers from post-Covid-worst Q1/25 Saia reported a second-quarter operating ratio (inverse of operating margin) of 87.8%, which was 450 basis points worse y/y, but 330 bps better than the first quarter (the carrier's worst operating performance since the pandemic). The result was also 120 bps better than management's guidance. Cost per shipment was up 7.7% but revenue per shipment increased just 1.8%, a 590-bp negative spread. Cost per shipment was down 4% from the first quarter. Terminals opened less than three years operated at a mid-90s OR during the second quarter, which was an improvement from breakeven results in the first quarter. Most of the newer locations reported higher efficiency metrics. The new locations have also helped Saia reduce the number of shipment touches across the network. Salaries, wages and benefits expenses were 260 bps higher y/y as a percentage of revenue. The company implemented an annual wages-and-benefits increase of 4.1% in July 2024 but hasn't decided if an increase is in store for 2025. Head count was reduced 4.2% from March to June, which should begin to take some pressure off the expense line. Depreciation and amortization expense was up 130 bps y/y due to recent terminal investments. Purchased transportation expense declined 40 bps y/y. The company normally sees 100 to 200 bps of OR degradation from the second to third quarter. However, it hopes recent cost actions will allow it to minimize the degradation to just 100 bps this year. The OR guidance could be negatively impacted by roughly 75 bps if it decides to implement an annual compensation increase similar to last year. The loose guide implies an 88.8% OR in the third quarter, which would be 370 bps worse y/y. The company's long-term OR goal remains at sub-80%. In aggregate, Saia has inked deals to buy 31 terminals from defunct Yellow (OTC: YELLQ). Saia now operates a full-scale, national network of 213 terminals. Shares of Saia were up 5.6% at 2:46 p.m. EDT on Friday compared to the S&P 500, which was up 0.5%. More FreightWaves articles by Todd Maiden: Heartland Express books another loss in Q2 Knight-Swift's belt tightening offsets soft demand FedEx Freight gives shippers 'more time' to adjust to new LTL class rules The post Saia beginning to shake off growing pains appeared first on FreightWaves. Sign in to access your portfolio

Bitcoin Just Flashed a $5 Million Warning--Here's What Traders Are Betting on Next
Bitcoin Just Flashed a $5 Million Warning--Here's What Traders Are Betting on Next

Yahoo

time5 minutes ago

  • Yahoo

Bitcoin Just Flashed a $5 Million Warning--Here's What Traders Are Betting on Next

Bitcoin (BTC-USD) lost momentum on Friday, dropping to $114,762its lowest since July 11as investor appetite for risk assets softened. The pullback followed stronger-than-expected U.S. jobs data, which dented hopes for near-term Fed rate cuts. After hitting a record high of $123,205 earlier this month, fueled by optimism around U.S. regulation and institutional inflows, Bitcoin's rally has taken a breather. Ether traded flat, and XRP slipped roughly 3% in early New York hours. Rachael Lucas, crypto analyst at BTC Markets, noted that while the broader uptrend could still be intact, momentum has cooled and traders are cautious. Warning! GuruFocus has detected 7 Warning Signs with TSN. Some market watchers see the retreat as part of a broader consolidation phase rather than a breakdown. According to FxPro's Alex Kuptsikevich, the correction is healthy and necessary after recent highs. Even if the total crypto market cap falls back to $3.4 trilliondown from the $4 trillion peakit would still likely be viewed as profit-taking, not panic selling. That level remains a key threshold to watch for longer-term trend direction. The jobs data also ended a seven-day Asian equities rally, underscoring just how sensitive risk assets have become to shifting macro signals. Meanwhile, the derivatives market is flashing signs of rising caution. Prime broker FalconX reported a $5 million put option trade on Deribit, betting on Bitcoin falling to $110,000 by August 8. It's a notable hedge that reflects growing two-way risk. We expect to see further consolidation while Bitcoin remains below monthly trendline resistance, currently at around $125,000, said Tony Sycamore of IG Australia. That same level capped Bitcoin's last breakout attemptadding to the technical ceiling traders are watching as the next test of market conviction. This article first appeared on GuruFocus. Sign in to access your portfolio

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store