Opus One Gold Obtains 1.98 g/t Gold Over 11.9 m From Hole NO-25-21, at 400 Vertical Meters on Its Zone 1 Gold Discovery, Noyell Project
MONTREAL, July 29, 2025 (GLOBE NEWSWIRE) — Opus One Gold Corp (TSX-V: OOR) (the 'Company' or 'Opus One') is pleased to announce that drill hole NO-25-21 from the winter drilling program on its 100% owned Noyell project near the town of Matagami, Abitibi, Québec, Canada, returned 1.98 g/t Au over 11.9 m from 474.8 to 486.7 m. The mineralized interval represents a true width of approximately 10.6 m within the Zone 1 structure.
Hole NO-25-21 was drilled at an intermediate depth of 400 m in the eastern portion of Zone 1. This wide interval confirms the steep eastern plunge on Zone 1 which culminates with the excellent results obtained in hole NO-25-13, one of the deepest holes of the campaign so far (released in June). This hole was initially planned to intersect Zone 1 approximately 50 m deeper than it did but, strong deviation flattened the trajectory of the hole in an unusual fashion and the depth target was not attained. Nevertheless, this hole confirms the continuity of the mineralization in a key area of Zone 1.
Both holes NO-25-20 and NO-25-22 explored the eastern extension of Zone 1 at depths of 300 and 500 m. Both holes intersected Zone 1 but returned only marginal results.
These results were the last ones from the winter drilling program of 2025 on Noyell.
2025 Drill hole location and parameters are as follows:
2025 WINTER FINAL DRILLING RESULTS
Louis Morin, Opus One CEO commented: '
All results of the 2025 winter drilling program on Noyell have now been released. The program has been a real success and a game changer for Opus One. We have discovered a significant area of strong gold mineralization near surface and we have demonstrated that the mineralization extends from surface, below 20 m of overburden, down to at least 500 m vertical. In the weeks to come, we will finalize our review of the results and propose a new interpretation for Zone 1.'
Sample preparation, analysis and QAQC program
All core recovered is NQ size. All samples are described, labelled, cut (diamond saw) and bagged at Technominex' facilities in Rouyn-Noranda. Samples are then shipped to AGAT certified Laboratory in Val-d'Or for preparation. Sample pulps are then shipped to various AGAT laboratories in Canada for analysis. Samples are assayed for gold using by Fire Assay (50g), with ICP-OES Finish. All samples equal or above 10 g/t Au are submitted to ore grade gravimetric finish.
Opus One's QAQC program consists of one control sample inserted, at Technominex' facility, after 9 regular samples. Control samples consist of a certified blank and various gold grades certified material.
OPUS ONE Resources Inc.
Opus One Resources Inc. is a mining exploration company focused on discovering high quality gold and base metals deposits within strategically located properties in proven mining camps, close to existing mines in the Abitibi Greenstone Belt, north-western Quebec and north-eastern Ontario - one of the most prolific gold mining areas in the world. Opus One holds assets in the Val-d'Or and Matagami mineral districts.
An independent qualified person, Pierre O'Dowd P.Geo, has verified and approved the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in the written disclosure as required by section 3.1 and 3.2 of NI43-101.
Forward-Looking Statements
This news release contains statements that may constitute 'forward-looking information' within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Opus One, or the assumptions underlying any of the foregoing. In this news release, words such as 'may', 'would', 'could', 'will', 'likely', 'believe', 'expect', 'anticipate', 'intend', 'plan', 'estimate' and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including the anticipated exploration program on the project, the results of such exploration program, the development of the project and what benefits Opus One will derive from the project, the expected demand for lithium. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions, and other unpredictable factors, many of which are beyond Opus One's control.
These risks, uncertainties and assumptions include, but are not limited to, those described under 'Financial Instruments' and 'Risk and Uncertainties in Opus One's Annual Report for the fiscal year ended August 31
st
, 2024, a copy of which is available on SEDAR at
www.sedar.com
and could cause actual events or results to differ materially from those projected in any forward-looking statements. Opus One does not intend, nor does Opus One undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
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 the release.
For more information, please contact:
Louis Morin
Chief Executive Officer & Director
Tel.: (514) 591-3988
Michael W. Kinley, CPA, CA
President, Chief Financial Officer & Director
Tel: (902) 402-0388
info@OpusOneGold.com
Visit Opus One's website:
www.OpusOneGold.com
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/82a5858d-79b4-4281-b817-e88cf29cfe04
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growing at 8.15% CAGR - Exclusive Report by Towards Chemical and Materials Consulting
According to Towards Chemical and Materials, the global renewable natural gas market size is calculated at USD 15.50 billion in 2025 and is expected to reach around USD 31.37 billion by 2034, growing at a CAGR of 8.15% for the forecasted period. North America dominated the renewable natural gas market with a market share of 38.77% in 2024. Ottawa, July 30, 2025 (GLOBE NEWSWIRE) -- According to the new market research report ' the global renewable natural gas market size was reached at USD 14.33 billion in 2024 and is expected to be worth around USD 31.37 billion by 2034, a study published by Towards Chemical and Materials a sister firm of Precedence Research. Get All the Details in Our Solutions –Download Sample: The market is growing as increasing environmental regulation and carbon reduction mandates drive adoption, advances in technology for waste-to-gas conversion, and growing adoption in the transportation and energy sectors support solid long-term market growth. Renewable natural gas (RNG), or biomethane, is produced by upgrading biogas produced from organic waste feedstock's via landfills, agricultural waste, and wastewater treatment facilities. RNG is chemically equivalent to fossil natural gas, with the capability to be injected into fossil natural gas pipelines as well as providing a clean fuel option for the transportation industry. The market is gaining traction as decarbonization aspirations grow, and government policies supporting development of new energy sources increase alongside use of renewables and other energy alternatives. Sectors such as utilities, transportation and industrial manufacturing are looking to incorporate RNG into their operations as means of reducing emissions. Production costs are high, and this is creating issues for players along the circle of supply in lowering unit economics. Overall, it appears as though the market and financing for the renewable natural gas sector is set to expand as part of a circular economy. Renewable Natural Gas Market Major Trends What are the Major Trends in the Renewable Natural Gas Market? Advanced Upgrading Technologies- Membrane separation and pressure-swing adsorption methods are improving RNG purity and efficiency, which exponentially increase the feasibility of large-scale production and lowering costs associated with processing in general. Use in Transportation Fuel- Utilization of RNG is increasing in fleets and heavy-duty vehicles, as it is a low-carbon alternative to diesel, and gaining momentum, as policies backed by clean fuel standards and corporate emission goals promote the widespread use of RNG as an alternative fuel source. Government Incentives- Government incentives, in the form of tax credit programs, biofuels mandates, or renewable energy objectives, are leading to the quickened development of RNG projects and ultimately, progress toward a potential market, and experiences in Europe and the U.S. suggest this is an intriguing trend. Focus on Energy Security- RNG not only helps curb methane emissions but also adds a level of autonomy to local energy independence by converting the organic waste into a reliable, sources of new, renewable fuel because they are part of a circular economy model. Invest in Premium Global Insights Immediate Delivery Available @ Renewable Natural Gas Market Report Scope Report Attribute Details Market size value in 2025 USD 15.50 billion Revenue forecast in 2034 USD 31.37 billion Growth rate CAGR of 8.15% from 2025 to 2034 Historical data 2021 - 2024 Forecast period 2025 - 2034 Quantitative units Revenue in USD million/billion, Volume in Kilotons, and CAGR from 2025 to 2033 Report coverage Revenue forecast, competitive landscape, growth factors, and trends Segments covered By Feed Stock, By Application, By Region Key companies profiled Clean Energy Fuels Corp. (United States),Montauk Renewables, Inc. (United States), VERBIO Vereinigte BioEnergie AG (Germany) , Eni S.p.A. (Italy), TotalEnergies SE (France) , BP plc (United Kingdom) , Engie SA (France) , Orsted A/S (Denmark) , Technip Energies N.V. (France) , VARO Energy (Switzerland) , Gazprom PJSC (Russia) , FortisBC Energy Inc. (Canada) , Dominion Energy, Inc. (United States). North America Renewable Natural Gas Market Size to Hit USD 3.52 Billion by 2034 The North America renewable natural gas market size was valued at USD 2.19 billion in 2024, grew to USD 6.01 billion in 2025, and is expected to hit around USD 12.18 billion by 2034, growing at a compound annual growth rate (CAGR) of 8.16 % over the forecast period from 2025 to 2034. North America dominated the renewable natural gas market in 2024 because of the continuing focus on decarbonization, robust policy incentives, and large investments in clean energy infrastructure. Reforms to boost low-carbon fuels usage in transportation, utilities, and heavy industry are driving production of and adoption of RNG. Additionally, the increase in capital investment in landfill gas capture, and anaerobic digestion projects is driving growth. As well, support from the public sector and energy sector partnerships, and the agricultural sector, is keeping North America strong in development and deployment of RNG. Market Trends in U.S. The U.S. is leading in the North American renewable natural gas market because of enabling policies like the Renewable Fuel Standard (RFS), and California's Low Carbon Fuel Standard (LCFS). These policies support RNG production from landfill, wastewater treatment, and agricultural waste. Several states have rolled out RNG utility programs, and some of the largest fuels providers are now purchasing RNG to add in their transportation networks to reduce emissions. The U.S. is also home to the largest number of RNG projects from the private sector and distributed RNG projects from the public sector with strong involvement from the agricultural and waste sectors. In March 2025, SoCalGas (Southern California Gas Company), based in Los Angeles, has signed its first CPUC approved renewable natural gas (RNG) agreement under California's SB 1440 on March 18, 2025. The agreement, with Organic Energy Solutions, will harvest methane from industrial and food waste in San Bernardino for injection into the pipeline and will help advance the state's clean energy, and decarbonization objectives. Why Asia Pacific showing up as the Fastest Growing Region in Renewable Natural Gas Market? Asia Pacific expects the fastest growth in the renewable natural gas market during the forecast period, due to increased environmental awareness, rising energy demand, and desire to reduce dependency on fossil fuels. Investments in waste-to-energy projects are increasing, and urban centers including utility companies, are looking to RNG to deal with air pollution and waste management challenges. The demand for sustainable alternatives, imminent energy security related goals, and a ballooning population is promoting the application of RNG across sectors including transportation, power generation, and industrial uses; thus, resulting in Asia Pacific being a highly promising region for growth in the future. Market Trends China China's renewable natural gas industry development has been predominantly achieved with policy support and research-oriented assistance. An operating list of biogases to RNG plants in Heilongjiang province now includes 7 facilities producing nearly 50 million m³ annually from agricultural waste, with an additional 6 facilities under construction and adding 28 million m³ of capacity. In October 2024, the China Energy Engineering Group is developed an unprecedented integrated waste‑to‑fuel project in Heilongjiang province, which will incorporate biomass, wind, solar and hydrogen power, to produce 200,000 tons of green methanol and 300,000 tons of sustainable aviation fuel each year. These types of projects exemplify China's intent to implement clean energy technologies, aid resources in rural areas of the country, and create modern fuel from the energy sources. Renewable Natural Gas Market Growth Factor Is expansion of landfill methane recovery projects driving global Renewable Natural Gas growth? A major non‑regulatory driver of the renewable natural gas market is the rapid growth of landfill methane recovery and utilization projects. The U.S. EPA's Landfill Methane Outreach Program (LMOP) supports these projects with government technical assistance programs. The Landfill Methane Outreach Program run by the EPA has stated that at the end-of-2023 there were 135 RNG projects operating on agricultural sites and 102 projects based on landfills in the U.S. a considerable increase from previous years. The EPA's LMOP and its Global Methane Initiative also actively assist developing countries build capacity and technical skills in public private partnerships to duplicate RNG projects at municipal solid waste landfills, agricultural, and wastewater sources worldwide . As part of its duties under the Clean Air Act, the EPA pledged to develop 840 million gallons of cellulosic biofuel in 2023 and 1.38 billion gallons in in 2025. RNG fuels (such as liquefied or compressed RNG) are able to produce RINs under these regulations. These programs help get the funding, construction, and design of RNG projects moving faster to replicate and make good use of waste feedstocks on a commercial and sustainable scale globally. 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Gas Separation Membrane Market : The global gas separation membrane market size was valued at approximately USD 1.85 billion in 2024 and is projected to grow at a CAGR of 6.95% from 2025 to 2034, reaching a value of USD 3.62 billion by 2034. Bio-Renewable Chemicals Market : The global bio-renewable chemicals market size was valued at USD 15.11 billion in 2024 and is growing to approximately USD 39.01 billion by 2034, with a developing compound annual growth rate (CAGR) of 9.95% over the forecast period 2025 to 2034. Natural Aroma Chemicals Market : The global natural aroma chemicals market size was reached at USD 4.55 billion in 2024 and is estimated to surpass around USD 5.91 billion by 2034, growing at a compound annual growth rate (CAGR) of 2.65% during the forecast period 2025 to 2034. 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For this study, Towards Chemical and Materials has segmented the global Renewable Natural Gas Market By Feed Stock Landfill Wastewater Treatment Agricultural Waste Others By Application Vehicles Fuel Power Generation Pipeline Injection Others By Regional North America Europe Asia Pacific Latin America Middle East Africa Immediate Delivery Available | Buy This Premium Research Report@ About Us Towards Chemical and Materials is a leading global consulting firm specializing in providing comprehensive and strategic research solutions across the chemical and materials industries. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations. 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Fiverr Announces Second Quarter 2025 Results
Strong Q2 results: We delivered solid execution across Marketplace and Services segments, together with continued operational discipline. Marketplace revenue was led by strong growth across AI-related categories and continued momentum of Fiverr Pro's Managed Services, while the Services segment contributed to revenue upside, driven by cross-sell and upsell opportunities of value-added services. Rapid AI category expansion: AI-related services are booming, with surging demand especially around AI agents, workflow automation and vibe coding. Businesses of all sizes turn to freelancers on Fiverr to bridge the gap between AI technology and implementation. Continued momentum for Managed Services: Fiverr Pro's Managed Services is showing meaningful growth, driven by demand for high-value, larger transactions. Execution on full-scope projects with new high spenders and repeat clients remains solid, with more deals steadily coming in this quarter. 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Together with our continuous efforts in going upmarket, we are seeing encouraging growth trends for certain key verticals and high-value transactions,' said Micha Kaufman, founder and CEO of Fiverr. 'As AI continues to reshape how work is done, our freelancers are playing a crucial role in helping our customers navigate the rapidly changing technology landscape, and turning AI tools into real world business impact. We are uniquely positioned at the intersection of human and AI, making us the go-to platform for AI expertise.' "We delivered strong Q2 results as we continue to take a balanced approach between growth and profitability. Growth and innovation remain a top priority for us, especially at a time when AI is unlocking opportunities across almost every discipline. At the same time, we are committed to and confident in delivering our long-term targets for Adjusted EBITDA and free cash flow,' said Ofer Katz, President and CFO of Fiverr. 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GAAP gross margin in the second quarter of 2025 was 81.2%, a decrease of 190 basis points from 83.1% in the second quarter of 2024. Non-GAAP gross margin1 in the second quarter of 2025 was 84.5%, an increase of 10 basis points from 84.4% in the second quarter of 2024. GAAP net income in the second quarter of 2025 was $3.2 million, or $0.09 basic net income per share and diluted net income per share, compared to $3.3 million GAAP net income, or $0.09 basic net income per share and $0.08 diluted net income per share in the second quarter of 2024. Non-GAAP net income1 in the second quarter of 2025 was $27.4 million, or $0.75 basic non-GAAP net income per share1 and $0.69 diluted non-GAAP net income per share1, compared to $23.8 million non-GAAP net income1, or $0.63 basic non-GAAP net income per share1 and $0.58 diluted non-GAAP net income per share1, in the second quarter of 2024. 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Q3 2025 FY 2025 Revenue $105 - $110 million $425 - $438 million y/y growth 5% - 10% 9% - 12% Adjusted EBITDA(1) $21.5 - $23.5 million $84 - $90 million Conference Call and Webcast Details Fiverr's management will host a conference call to discuss its financial results on Wednesday, July 30, 2025, at 8:30 a.m. Eastern Time. A live webcast of the call can be accessed from Fiverr's Investor Relations website. An archived version will be available on the website after the call. To participate in the conference call, please register using the link here. About Fiverr Fiverr's mission is to transform the way the world creates and works together. We're shaping the future of work with the world's leading open platform, seamlessly connecting top talent and cutting-edge technology with businesses around the globe. From expert freelancers in over 750 skilled categories to best-in-class GenAI models and agents, Fiverr provides the most advanced and comprehensive talent and tools for digital services—helping businesses get mission-critical projects done fast and cost-effectively. From small businesses to Fortune 500 companies, millions trust Fiverr for projects in software and AI development, digital marketing, finance, business consulting, video animation, music, architecture, and more. 1 See 'Key Performance Metrics and Non-GAAP Financial Measures' and reconciliation tables at the end of this release for additional information regarding the non-GAAP metrics and Key Performance Metrics used in this release. Learn how to future-proof your business with exceptional talent and cutting-edge tools at Follow us on LinkedIn, Instagram, TikTok, and Facebook. Investor Relations:Jinjin Qianinvestors@ Press:Jenny Changpress@ Source: Fiverr International Ltd. CONSOLIDATED BALANCE SHEETS (In thousands) June 30, December 31, 2025 2024 (Unaudited) (Audited) Assets Current assets: Cash and cash equivalents $ 313,520 $ 133,472 Marketable securities 264,884 288,947 User funds 164,119 153,309 Bank deposits 146,000 144,843 Restricted deposit 1,315 1,315 Other receivables 40,392 34,198 Total current assets 930,230 756,084 Long-term assets: Marketable securities 23,770 122,009 Property and equipment, net 3,883 4,271 Operating lease right of use asset 3,829 5,122 Intangible assets, net 35,077 41,882 Goodwill 110,218 110,218 Other non-current assets 31,593 30,388 Total long-term assets 208,370 313,890 TOTAL ASSETS $ 1,138,600 $ 1,069,974 Liabilities and Shareholders' Equity Current liabilities: Trade payables $ 6,922 $ 5,533 User accounts 152,047 141,691 Deferred revenue 20,839 20,090 Other account payables and accrued expenses 64,930 57,167 Operating lease liabilities 2,827 2,608 Convertible notes, net 459,143 457,860 Total current liabilities 706,708 684,949 Long-term liabilities: Operating lease liabilities 1,547 2,747 Other non-current liabilities 25,481 19,628 Total long-term liabilities 27,028 22,375 TOTAL LIABILITIES $ 733,736 $ 707,324 Shareholders' equity: Share capital and additional paid-in capital 760,995 727,176 Accumulated deficit (362,207 ) (366,193 ) Accumulated other comprehensive income 6,076 1,667 Total shareholders' equity 404,864 362,650 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 1,138,600 $ 1,069,974 CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share data) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) Revenue $ 108,648 $ 94,663 $ 215,832 $ 188,187 Cost of revenue 20,384 16,024 40,780 31,472 Gross profit 88,264 - 78,639 175,052 - 156,715 Operating expenses: Research and development 23,994 21,855 47,621 45,488 Sales and marketing 44,844 41,324 92,234 83,476 General and administrative 21,415 17,764 42,381 34,215 Total operating expenses 90,253 80,943 182,236 163,179 Operating loss (1,989 ) (2,304 ) (7,184 ) (6,464 ) Financial income, net 6,554 8,502 13,879 15,163 Income before taxes on income 4,565 6,198 6,695 8,699 Taxes on income (1,377 ) (2,931 ) (2,709 ) (4,644 ) Net income attributable to ordinary shareholders $ 3,188 $ 3,267 $ 3,986 $ 4,055 Basic net income per share attributable to ordinary shareholders $ 0.09 $ 0.09 $ 0.11 $ 0.11 Basic weighted average ordinary shares 36,585,998 38,089,060 36,523,934 38,422,605 Diluted net income per share attributable to ordinary shareholders $ 0.09 $ 0.08 $ 0.11 $ 0.10 Diluted weighted average ordinary shares 37,499,304 38,755,863 37,617,438 39,180,421 CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) Cash flows from operating activities: Net income $ 3,188 $ 3,267 $ 3,986 $ 4,055 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 4,089 1,606 8,373 2,756 Amortization of premium and accretion of discount of marketable securities, net (1,530 ) (1,154 ) (1,597 ) (2,248 ) Amortization of discount and issuance costs of convertible notes 642 638 1,283 1,275 Shared-based compensation 14,055 18,438 29,809 37,458 Exchange rate fluctuations and other items, net (345 ) 55 (344 ) 166 Revaluation of Earn-out 4,067 - 7,329 - Changes in assets and liabilities: User funds 2,930 6,928 (10,810 ) (4,692 ) Operating lease ROU assets and liabilities 385 (177 ) 312 (275 ) Other receivables (3,942 ) (2,197 ) (3,511 ) (5,173 ) Trade payables 58 248 1,362 (580 ) Deferred revenue (1,163 ) (777 ) 749 1,118 User accounts (2,579 ) (6,632 ) 10,356 3,291 Other accounts payable and accrued expenses 5,264 (131 ) 6,287 4,134 Non-current liabilities 85 859 (71 ) 882 Net cash provided by operating activities 25,204 20,971 53,513 42,167 Investing Activities: Investment in marketable securities - - (55,652 ) (30,734 ) Proceeds from maturities of marketable securities 97,102 68,512 180,271 108,597 Investment in short-term bank deposits (500 ) (9,000 ) (2,000 ) (36,238 ) Proceeds from short-term bank deposits - 2,974 843 6,351 Acquisition of business, net of cash acquired - (9,163 ) - (9,163 ) Purchase of property and equipment (185 ) (309 ) (472 ) (687 ) Capitalization of internal-use software - - (661 ) (20 ) Net cash provided by investing activities 96,417 53,014 122,329 38,106 Financing Activities Repurchases of ordinary shares - (77,101 ) - (77,101 ) Proceeds from exercise of share options 2,101 1,388 2,579 1,830 Proceeds from withholding tax related to employees' exercises of share options and RSUs 2,349 441 1,288 220 Net cash provided by (used in) financing activities 4,450 (75,272 ) 3,867 (75,051 ) Effect of exchange rate fluctuations on cash and cash equivalents 345 (58 ) 339 (167 ) Increase (decrease) in cash, cash equivalents 126,416 (1,345 ) 180,048 5,055 Cash, cash equivalents at the beginning of period 187,104 190,074 133,472 183,674 Cash and cash equivalents at the end of period $ 313,520 $ 188,729 $ 313,520 $ 188,729 REVENUE BREAKDOWN (in thousands1) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Marketplace Revenue $ 74,689 $ 76,191 $ 152,363 $ 154,502 Annual Active Buyers 3,425 3,846 3,425 3,846 Annual Spend per Buyer $ 318 $ 290 $ 318 $ 290 Marketplace Take Rate 27.6 % 27.6 % 27.6 % 27.6 % Services Revenue $ 33,959 $ 18,472 $ 63,469 $ 33,685 Total Revenue $ 108,648 $ 94,663 $ 215,832 $ 188,187 for Annual Spend per Buyer and Marketplace Take Rate RECONCILIATION OF GAAP TO NON-GAAP GROSS PROFIT (In thousands, except gross margin data) Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 FY 2023 FY 2024 Unaudited (Audited) (Audited) GAAP gross profit $ 78,639 $ 80,735 $ 83,465 $ 86,788 $ 88,264 $ 299,529 $ 320,915 Add: Share-based compensation 499 514 445 423 403 2,497 2,136 Depreciation and amortization 791 2,415 3,198 3,164 3,155 3,253 7,017 Earn-out revaluation, acquisition related costs and other - 11 17 44 - - 28 Non-GAAP gross profit $ 79,929 $ 83,675 $ 87,125 $ 90,419 $ 91,822 $ 305,279 $ 330,096 Non-GAAP gross margin 84.4 % 84.0 % 84.0 % 84.4 % 84.5 % 84.5 % 84.3 % RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME AND NET INCOME PER SHARE (In thousands, except share and per share data) Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 FY 2023 FY 2024 Unaudited (Audited) (Audited) GAAP net income attributable to ordinary shareholders $ 3,267 $ 1,353 $ 12,838 $ 798 $ 3,188 $ 3,681 $ 18,246 Add: Depreciation and amortization 1,606 3,392 4,328 4,284 4,089 5,987 10,476 Share-based compensation 18,438 18,464 18,020 15,754 14,055 68,698 73,942 Earn-out revaluation, acquisition related costs and other 109 1,273 4,240 4,599 5,294 (359 ) 5,631 Convertible notes amortization of discount and issuance costs 638 640 640 641 642 2,541 2,555 Taxes on income related to non-GAAP adjustments (71 ) (290 ) (16,249 ) (380 ) (351 ) - (16,610 ) Exchange rate (gain)/loss, net (156 ) (221 ) 1,108 (642 ) 531 (131 ) 859 Non-GAAP net income $ 23,831 $ 24,611 $ 24,925 $ 25,054 $ 27,448 $ 80,417 $ 95,099 Weighted average number of ordinary shares - basic 38,089,060 35,435,532 35,658,287 36,019,143 36,585,998 38,066,203 36,984,757 Non-GAAP basic net income per share attributable to ordinary shareholders $ 0.63 $ 0.69 $ 0.70 $ 0.70 $ 0.75 $ 2.11 $ 2.57 Weighted average number of ordinary shares - diluted 40,909,724 38,359,853 38,947,644 39,446,707 39,653,165 41,304,907 39,994,015 Non-GAAP diluted net income per share attributable to ordinary shareholders $ 0.58 $ 0.64 $ 0.64 $ 0.64 $ 0.69 $ 1.95 $ 2.38 RECONCILIATION OF GAAP NET INCOME TO ADJUSTED EBITDA (In thousands, except Adjusted EBITDA margin data) Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 FY 2023 FY 2024 Unaudited (Audited) (Audited) GAAP net income $ 3,267 $ 1,353 $ 12,838 $ 798 $ 3,188 $ 3,681 $ 18,246 Add: Financial expenses (income), net (8,502 ) (6,881 ) (5,662 ) (7,325 ) (6,554 ) (20,163 ) (27,706 ) Taxes on income (tax benefit) 2,931 2,052 (13,054 ) 1,332 1,377 1,373 (6,358 ) Depreciation and amortization 1,606 3,392 4,328 4,284 4,089 5,987 10,476 Share-based compensation 18,438 18,464 18,020 15,754 14,055 68,698 73,942 Earn-out revaluation, acquisition related costs and other 109 1,273 4,240 4,599 5,294 (359 ) 5,631 Adjusted EBITDA $ 17,849 $ 19,653 $ 20,710 $ 19,442 $ 21,449 $ 59,217 $ 74,231 Adjusted EBITDA margin 18.9 % 19.7 % 20.0 % 18.1 % 19.7 % 16.4 % 19.0 % 1928 RECONCILIATION OF GAAP TO NON-GAAP OPERATING EXPENSES (In thousands) Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 FY 2023 FY 2024 Unaudited (Audited) (Audited) GAAP research and development $ 21,855 $ 22,424 $ 22,329 $ 23,627 $ 23,994 $ 90,720 $ 90,241 Less: Share-based compensation 5,897 5,273 5,563 4,730 4,129 24,310 23,569 Depreciation and amortization 193 190 247 265 313 799 831 Earn-out revaluation, acquisition related costs and other - 700 (672 ) 65 62 - 28 Non-GAAP research and development $ 15,765 $ 16,261 $ 17,191 $ 18,567 $ 19,490 $ 65,611 $ 65,813 GAAP sales and marketing $ 41,324 $ 42,970 $ 45,232 $ 47,390 $ 44,844 $ 161,208 $ 171,678 Less: Share-based compensation 3,389 3,605 3,162 2,246 1,369 13,304 13,592 Depreciation and amortization 553 721 770 716 550 1,601 2,308 Earn-out revaluation, acquisition related costs and other - 67 1,811 1,197 1,147 - 1,878 Non-GAAP sales and marketing $ 37,382 $ 38,577 $ 39,489 $ 43,231 $ 41,778 $ 146,303 $ 153,900 GAAP general and administrative $ 17,764 $ 18,817 $ 21,782 $ 20,966 $ 21,415 $ 62,710 $ 74,814 Less: Share-based compensation 8,653 9,072 8,850 8,355 8,154 28,587 34,645 Depreciation and amortization 69 66 113 139 71 334 320 Earn-out revaluation, acquisition related costs and other 109 495 3,084 3,293 4,085 (359 ) 3,697 Non-GAAP general and administrative $ 8,933 $ 9,184 $ 9,735 $ 9,179 $ 9,105 $ 34,148 $ 36,152 RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW (In thousands) Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 FY 2023 FY 2024 Unaudited (Audited) (Audited) Net cash provided by operating activities $ 20,971 $ 10,867 $ 30,034 $ 28,309 $ 25,204 $ 83,186 $ 83,068 Purchase of property and equipment (309 ) (290 ) (326 ) (287 ) (185 ) (1,053 ) (1,303 ) Capitalization of internal-use software - - (83 ) (661 ) - (60 ) (103 ) Free cash flow $ 20,662 $ 10,577 $ 29,625 $ 27,361 $ 25,019 $ 82,073 $ 81,662 Key Performance Metrics and Non-GAAP Financial Measures This release includes certain key performance metrics and financial measures not based on GAAP, including Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP net income (loss), non-GAAP net income (loss) per share, and free cash flow, as well as operating metrics, including marketplace Gross Merchandise Value or GMV, annual active buyers, annual spend per buyer and marketplace take rate. Some amounts in this release may not total due to rounding. All percentages have been calculated using unrounded amounts. As of the fourth quarter of 2024, we updated the definitions of annual active buyers, GMV, annual spend per buyer and marketplace take rate to align our supplemental revenue presentation, which disaggregates revenue into two components, marketplace revenue and services revenue. These metrics will now exclusively reflect the marketplace, as amounts related to services previously included in these metrics are deemed immaterial. We define each of our non-GAAP measures of financial performance, as the respective GAAP balances shown in the above tables, adjusted for, as applicable, depreciation and amortization, share-based compensation expenses, contingent consideration revaluation, acquisition related costs and other, income taxes, amortization of discount and issuance costs of convertible note, financial (income) expenses, net. Amortization of acquired intangible assets is excluded from the measures, however, the revenue from the acquired companies is included, and their assets actively contribute to revenue generation. Non-GAAP gross profit margin represents non-GAAP gross profit expressed as a percentage of revenue. We define non-GAAP net income (loss) per share as non-GAAP net income (loss) divided by GAAP weighted-average number of ordinary shares basic and diluted. We use free cash flow as a liquidity measure and define it as a net cash provided by operating activities less capital expenditures. We define GMV or marketplace Gross Merchandise Value as the total value of transactions ordered through our marketplace, excluding value-added tax, goods and services tax, service chargebacks and refunds. Annual active buyers on any given date is defined as buyers who have ordered a Gig on our marketplace within the last 12-month period, irrespective of cancellations. Annual spend per buyer on any given date is calculated by dividing our GMV within the last 12-month period by the number of annual active buyers as of such date. Marketplace take rate for a given period means marketplace revenue for such period divided by GMV for such period. When we refer in this release to the marketplace we refer to transactions conducted between buyers and freelancers on When we refer to the platform we refer to the marketplace and our additional services. Management and our board of directors use certain metrics as supplemental measures of our performance that are not required by, or presented in accordance with GAAP because they assist us in comparing our operating performance on a consistent basis, as they remove the impact of items not directly resulting from our core operations. We also use these metrics for planning purposes, including the preparation of our internal annual operating budget and financial projections, to evaluate the performance and effectiveness of our strategic initiatives and capital expenditures and to evaluate our capacity to expand our business. In addition, we believe that free cash flow, which we use as a liquidity measure, is useful in evaluating our business because free cash flow reflects the cash surplus available or used to fund the expansion of our business after the payment of capital expenditures relating to the necessary components of ongoing operations. Capital expenditures consist primarily of property and equipment purchases and capitalized software costs. Free cash flow should not be used as an alternative to, or superior to, cash from operating activities. In addition, Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP net income (loss) and non-GAAP net income (loss) per share as well as operating metrics, including GMV, annual active buyers, annual spend per buyer and marketplace take rate should not be considered in isolation, as an alternative to, or superior to net income (loss), revenue, cash flows or other performance measure derived in accordance with GAAP. These metrics are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. Management believes that the presentation of non-GAAP metrics is an appropriate measure of operating performance because they eliminate the impact of expenses that do not relate directly to the performance of our underlying business. These non-GAAP metrics should not be construed as an inference that our future results will be unaffected by unusual or other items. Additionally, Adjusted EBITDA and other non-GAAP metrics used herein are not intended to be a measure of free cash flow for management's discretionary use, as they do not reflect our tax payments and certain other cash costs that may recur in the future, including, among other things, cash requirements for costs to replace assets being depreciated and amortized. Management compensates for these limitations by relying on our GAAP results in addition to using Adjusted EBITDA and other non-GAAP metrics as supplemental measures of our performance. Our measures of Adjusted EBITDA, free cash flow and other non-GAAP metrics used herein are not necessarily comparable to similarly titled captions of other companies due to different methods of calculation. See the tables above regarding reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures. We are not able to provide a reconciliation of Adjusted EBITDA to net income (loss), the nearest comparable GAAP measure, and Adjusted EBITDA margin guidance for the third quarter of 2025, the fiscal year ending December 31, 2025, or the period ending December 31, 2027, because certain items that are excluded from Adjusted EBITDA and Adjusted EBITDA margin cannot be reasonably predicted or are not in our control. We are also not able to provide a reconciliation of free cash flow guidance for the three year period from 2024-2027 to cash from operating activities, the nearest comparable GAAP measure, because certain items that are reflected in free cash flow cannot be reasonably predicted or are not in our control. In particular, in the case of Adjusted EBITDA and Adjusted EBITDA margin, we are unable to forecast the timing or magnitude of share based compensation, amortization of intangible assets, impairment of intangible assets, income or loss on revaluation of contingent consideration, other acquisition-related costs, convertible notes amortization of discount and issuance costs and exchange rate income or loss, and in the case of free cash flow, we are unable to forecast property and equipment purchases and capitalized software costs, in each case, as applicable without unreasonable efforts, and these items could significantly impact, either individually or in the aggregate, GAAP measures in the Looking Statements This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our expected financial performance and operational performance including our long term targets and expectations, our business plans and strategy, the growth of our business, AI services and developments as well as statements that include the words 'expect,' 'intend,' 'plan,' 'believe,' 'project,' 'forecast,' 'estimate,' 'may,' 'should,' 'anticipate' and similar statements of a future or forward-looking nature. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: our ability to successfully implement our business plan within adverse economic conditions that may impact consumers, business spending and the demand for our services or have a material adverse impact on our business, financial condition and results of operations; our ability to attract and retain a large community of buyers and freelancers; our ability to generate sufficient revenue to maintain profitability or positive net cash flow generated by operating activities; our ability to maintain and enhance our brand; our dependence on the continued growth and expansion of the market for freelancers and the services they offer; our dependence on traffic to our websites; our ability to maintain user engagement on our websites and to maintain and improve the quality of our platform; our operations within a competitive market; political, economic and military instability in Israel, including related to the war in Israel; our ability and the ability of third parties to protect our users' personal or other data from a security breach and to comply with laws and regulations relating to data privacy, data protection and cybersecurity; our ability to manage our current and potential future growth; our dependence on decisions and developments in the mobile device industry, over which we do not have control; our ability to detect errors, defects or disruptions in our platform; our ability to comply with the terms of underlying licenses of open source software components on our platform; our ability to expand into markets outside the United States and our ability to manage the business and economic risks of international expansion and operations; our ability to achieve desired operating margins; our ability to comply with a wide variety of U.S. and international laws and regulations, including with regulatory frameworks around the development and use of AI; our ability to attract, recruit, retain and develop qualified employees; our reliance on Amazon Web Services; our ability to mitigate payment and fraud risks; our dependence on relationships with payment partners, banks and disbursement partners; and the other important factors discussed under the caption 'Risk Factors' in our annual report on Form 20-F filed with the U.S. Securities and Exchange Commission ('SEC') on February 19, 2025, as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC's website at In addition, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements that we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release are inherently uncertain and may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as predictions of future events. In addition, the forward-looking statements made in this release relate only to events or information as of the date on which the statements are made in this release. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated in to access your portfolio
Hamilton Spectator
7 hours ago
- Hamilton Spectator
Koryx Copper Files Final Short Form Prospectus in Connection With $17.4 Million Bought Deal Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, British Columbia, July 29, 2025 (GLOBE NEWSWIRE) — Koryx Copper Inc. ('Koryx' or the 'Company') (TSX-V: KRY) is pleased to announce that it has filed and been receipted for a final short form prospectus dated July 28, 2025 (the 'Prospectus') in connection with its previously announced 'bought deal' public offering of 16,563,200 common shares (the 'Offered Shares') of the Company at a price of C$1.05 per Offered Share (the 'Issue Price') for aggregate gross proceeds to the Company of C$17,391,360 (the 'Offering'), as further described in the news releases of the Company dated July 9 and 10, 2025. In addition, the Company also granted the Underwriters (as defined below) an option (the 'Over-Allotment Option'), exercisable in whole or in part at any time and from time to time for up to 30 days following closing date, to purchase up to an additional 2,484,480 at the Issue Price for additional gross proceeds of up to C$2,608,704. The Underwriters have exercised the Over-Allotment Option in full. In connection with the Offering, the Company has entered into an underwriting agreement with Stifel Canada, as lead underwriter and sole bookrunner (the 'Lead Underwriter'), for and on behalf of a syndicate of underwriters that includes Beacon Securities Limited, Haywood Securities Inc., Research Capital Corporation, BMO Nesbitt Burns Inc., Red Cloud Securities Inc. and Ventum Financial Corp. (together with the Lead Underwriters, the 'Underwriters'). Delivery of the Prospectus and any amendment will be satisfied in accordance with the 'access equals delivery' provisions of applicable securities legislation. The Prospectus is accessible on SEDAR+ ( under the Company's issuer profile. An electronic or paper copy of the Prospectus and any amendment may be obtained, without charge, from Stifel Canada by email at ECM@ by providing Stifel Canada with an email address or address, as applicable. The Prospectus contains important, detailed information about the Company and the Offering. Prospective investors should read the Prospectus before making an investment decision. The Offering is subject to certain conditions including, but not limited to, the conditional approval of the TSX Venture Exchange, which it has granted to the Company. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States. The securities described herein have not been, and will not be, registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available. About Koryx Copper Inc Koryx Copper Inc. is a Canadian copper development Company focused on advancing the 100% owned Haib Copper Project in Namibia whilst also progressing its two copper exploration licenses on the Zambian copper belt. Haib is a large, advanced (PEA-stage) copper/molybdenum porphyry deposit in southern Namibia with a long history of exploration and project development by multiple operators. More than 80,000m of drilling has been conducted at Haib since the 1970's with significant exploration programs led by companies including Falconbridge (1964), Rio Tinto (1975) and Teck (2014). Extensive metallurgical testing and various technical studies have also been completed at Haib to date. Additional studies are underway aiming to demonstrate Haib as a future long-life, low-cost, low-risk open pit, sulphide flotation copper project with the potential for additional copper production from heap leaching. Haib has a current mineral resource of 414Mt @ 0.35% Cu for 1,459Mt of contained copper in the Indicated category and 345Mt @ 0.33% Cu for 1136Mt of contained copper in the Inferred category (0.25% Cu cut-off). Mineralization at Haib is typical of a porphyry copper deposit and it is one of only a few examples of a Paleoproterozoic porphyry copper deposit in the world and one of only two in southern Africa (both in Namibia). Due to its age, the deposit has been subjected to multiple metamorphic and deformation events but still retains many of the classic mineralization and alteration features typical of these deposits. The mineralization is dominantly chalcopyrite with minor bornite and chalcocite present and only minor secondary copper minerals at surface due to the arid environment. Further details of the Haib Copper Project are available in the corresponding technical report titled, 'NI 43-101 Technical Report – August 2024 Mineral Resource Estimate for the Haib Copper Project, Namibia' dated effective August 31, 2024 (the 'Technical Report'). The Technical Report and other information is available on the Company's website at and under the Company's profile on SEDAR+ at . More information is available by contacting the Company: ON BEHALF OF THE BOARD OF DIRECTORS 'Heye Daun' , President & CEO Julia Becker Corporate Communications jbecker@ +1-604-785-0850 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. Cautionary Statement Regarding Forward-Looking Information This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Offering, the intended use of proceeds of the Offering, the Company's ability to complete the Offering on the terms announcing, the timing for completing the Offering, the Company's ability to obtain all necessary approvals, including the conditional approval of the TSX Venture Exchange, timing for completion of the Company's intended preliminary economic assessment (the 'PEA') of its Haib Copper Project and the potential projected or processing design capacity for annual copper concentrate production at its Haib Copper Project and the future or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management discussion and analysis. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
