logo
VIOR ANNOUNCES CORPORATE UPDATE

VIOR ANNOUNCES CORPORATE UPDATE

Globe and Mail03-03-2025
MONTREAL , /CNW/ - VIOR INC. (" Vior" or the " Corporation") (TSXV: VIO) (OTCQB: VIORF) (FRA: VL51) announces the resignation of Marian Moroney as Director of the Corporation, effective immediately. The Board of Directors and management team thank Ms. Moroney for her service, and the Corporation was fortunate to have benefited from Ms. Moroney's years of mining industry expertise.
, President, Chief Executive Officer and Director, commented: "I want to thank Marian for her help and contribution to Vior and to congratulate her for the new job appointment. We fully understand the requirements of her new role and wish her all the success in this new endeavor."
Following the recent financing closed on February 27, 2025 , the Corporation confirms that under its Investors Rights Agreement (" Agreement") with the Windfall Mining Group Inc., a wholly-owned subsidiary of Gold Fields Limited (" Gold Fields"), Gold Fields intends to exercise its right under the Agreement to designate in the near future one individual for appointment to the Corporation's Board of Directors. This will ensure continuity and provide additional strategic insights to support the Corporation's growth plan.
The Corporation further wishes to announce an amendment to its existing market making services agreement with Independent Trading Group Inc. (" ITG"), relating to market making services in accordance with the policies and guideline of the TSX Venture Exchange and all applicable legislation. The amendment, effective March 1, 2025 , includes a change in service fees to better align with the current market conditions and the Corporation's financial strategy. In consideration of the services provided by ITG, the Corporation will pay ITG a cash fee of $7,500 (plus applicable taxes), payable monthly in advance. (for more details on the market making services agreement with ITG, please refer to the Corporation's news release dated April 17, 2020 ).
ITG is an independent dealer-member of the Canadian Investment Regulatory Organization (CIRO) and has no interest directly or indirectly in the Corporation or its securities.
About Vior Inc.
Vior is a junior mineral exploration corporation based in the province of Québec, Canada, whose corporate strategy is to generate, explore, and develop high-quality mineral projects in the proven and favourable mining jurisdiction of Québec. Through the years, Vior's management and technical teams have demonstrated their ability to discover several gold deposits and many high-quality mineral projects. Vior is rapidly advancing its flagship Belleterre Gold Project which is a promising district-scale project that includes Québec's past-producing high-grade Belleterre gold mine.
www.vior.ca
SEDAR+: Vior Inc.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

SIMPLY SOLVENTLESS ANNOUNCES COMMENCEMENT OF HUMBLE GROW CO. RETROFIT EXPECTED TO INCREASE PRODUCTION TO 14,000KG OF CANNABIS PER YEAR & CLOSING OF ANC INC. PROM NOTE REPAYMENT AND AMENDMENT
SIMPLY SOLVENTLESS ANNOUNCES COMMENCEMENT OF HUMBLE GROW CO. RETROFIT EXPECTED TO INCREASE PRODUCTION TO 14,000KG OF CANNABIS PER YEAR & CLOSING OF ANC INC. PROM NOTE REPAYMENT AND AMENDMENT

Cision Canada

time3 hours ago

  • Cision Canada

SIMPLY SOLVENTLESS ANNOUNCES COMMENCEMENT OF HUMBLE GROW CO. RETROFIT EXPECTED TO INCREASE PRODUCTION TO 14,000KG OF CANNABIS PER YEAR & CLOSING OF ANC INC. PROM NOTE REPAYMENT AND AMENDMENT

CALGARY, AB, July 18, 2025 /CNW/ - Simply Solventless Concentrates Ltd. (TSXV: HASH) (" SSC") is pleased to announce that it has commenced the retrofit of its Humble Grow Co. (" Humble") facility (the " Retrofit"). SSC is also pleased to announce that it has closed the previously announced repayment and amendment of non-interest bearing promissory notes of up to $7.15 million due to the prior shareholders of ANC Inc. (" ANC"), comprised of a promissory note of $3.65 million (the " Promissory Note"), previously due May 31, 2025, and a earn-out note with up to $3.5 million outstanding, previously due October 31, 2025 (together with the Promissory Note, the " Notes"). Humble Retrofit Commencement The Retrofit is expected to increase cannabis production from approximately 8,000kg per year to approximately 14,000kg per year, and to increase annual revenue from approximately $9.6 million ($9.1 million net of intercompany revenue) to approximately $18.0 million ($16.0 million net of intercompany revenue) at current price levels. SSC expects that harvests from the Retrofit will commence in late 2025 or early 2026. Humble has performed well since being acquired due to our strong cultivation team, significant integration efforts, and substantial cost reductions. During Q2 2025, Humble generated revenue of approximately $2.4 million ($2.3 million net of intercompany revenue) and EBITDA of approximately $0.5 million ($0.5 million net of intercompany revenue and expenses). The Retrofit leverages this strong performance and the previously obtained proof of concept on expected production increases resulting from two years of trials. SSC does not expect an increase in Humble fixed operating costs because of the Retrofit. The Retrofit is expected to cost approximately $2.5 million. SSC is using a mix of equipment financing and cash flow from operations to fund the retrofit. SSC expects that it will receive rebates of between $0.5 million and $0.75 million from the Government of Manitoba, reducing the total expected capital cost for the Retrofit to between $1.75 million and $2.0 million. Jeff Swainson, President & CEO of SSC, stated: "We have been keen to proceed with the Retrofit since we acquired Humble, and we are now in the position to allocate cash flow from operations to the Retrofit. We look forward to reaping the rewards of this material increase in production in an environment with balancing supply and demand dynamics, and we thank Alexa Goertzen, Bobby Bains, and Thomas Facciolo for their great efforts in advancing this project." Closing of ANC Promissory Note Repayment & Amendment The Notes were originally issued on October 17, 2024 as partial consideration in connection with the acquisition by SSC of ANC. The Notes were repaid and amended as follows: Approximately $3.4 million of the Notes were repaid through the issuance of 6,875,000 common shares of SSC at $0.50 per common share (the " Equity Issuance"). The Equity Issuance was approved by the TSXV. $0.5 million of the Notes were discharged. $1.0 million of the Notes will be repaid in cash on or before June 3, 2026. $2.2 million of the Notes will be repaid in weekly cash payments averaging $21,370.19 over two years. Should SSC repay this balance by July 31, 2025, the remaining principal balance owing at that time will be reduced by $367,500. Should SSC repay this balance by December 31, 2025, the remaining principal balance owing at that time will be reduced by $245,000. The remaining Note is non-interest bearing. The Equity Issuance is subject to a hold period of four months and one day from the date of issuance. Jeff Swainson, SSC's President & CEO, stated: "We would like to thank ANC's prior shareholders for their belief in SSC as demonstrated by their desire to have approximately $3.4 million of their notes repaid in SSC shares at $0.50/share. This arrangement significantly improves SSC's balance sheet while reducing cash flow obligations, providing a strong foundation for future growth and the execution of our impactful business plan." Related Party Transaction James, Clarke, Thomas Facciolo and Tairance Rutter, insiders of SSC, received a portion of the Equity Issuance as parties to the amended Notes, which are considered "related party transactions" for the purposes of National Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101"). SSC was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 in reliance on section 5.5(a) and 5.7(1)(a) of MI 61-101. Further details are provided in a material change report filed by SSC on June 18, 2025. (1) All financial figures in the news release are unaudited. Actual results may differ from estimates. About Simply Solventless Concentrates Ltd. SSC is a public company incorporated under the Business Corporations Act (Alberta). SSC's mission is to provide pure, potent, terpene-rich ready to consume cannabis products to discerning cannabis consumers. For more information regarding SSC, please see This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects", "projected", "approximately" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward looking statements concerning the results of the Humble retrofit including Humble production volumes, revenue, EBITDA, fixed operating costs, sales prices, and capital costs, availability of equipment financing for Humble Retrofit, the potential to receive government rebates for the Humble Retrofit, and the supply demand environment for cannabis. SSC cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of SSC, including expectations and assumptions concerning SSC, the timing and market acceptance of products, competition in SSC's markets, SSC's reliance on customers, fluctuations in interest rates, SSC's ability to maintain good relations with its customers, employees and other stakeholders, changes in law or regulations, SSC's ability to protect its intellectual property, as well as other risks and uncertainties, including those described in SSC's filings available on SEDAR+ at The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of SSC. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release, and SSC does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law. Future Oriented Financial Information This press release contains future-oriented financial information and financial outlook information (collectively, "FOFI") about revenue, adjusted EBITDA and NNI of SSC, which are subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraphs. FOFI contained in this document was approved by management as of the date of this document and was provided for the purpose of providing further information about SSC's future business operations. SSC and its management believe that FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments, and represent, to the best of management's knowledge and opinion, SSC's expected course of action. However, because this information is highly subjective, it should not be relied on as necessarily indicative of future results. SSC disclaims any intention or obligation to update or revise any FOFI contained in this document, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned that the FOFI contained in this document should not be used for purposes other than for which it is disclosed herein. Differences in the timing of capital expenditures or revenues and variances in production estimates can have a significant impact on the key performance measures included in SSC's guidance. SSC's actual results may differ materially from these estimates. Non-IFRS Financial Measures This press release includes references to "EBITDA", which is not defined under International Financial Reporting Standards (IFRS). The intent of these non-IFRS measures is to provide additional useful information to investors and analysts. These non-IFRS measures do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other entities. As such, these non-IFRS measures should not be considered in isolation or used as a substitute for measures of performance prepared in accordance with IFRS. EBITDA is calculated as income before interest, taxes, depreciation and amortization expenses. EBITDA is considered a useful measure by management to understand profitability excluding the effects of capital structure, taxation and depreciation, but may not be appropriate for other purposes. EBITDA is not defined under IFRS and therefore should not be considered an alternative to, or more meaningful than net income (loss) and comprehensive income (loss). See the " Operations" section in SSC's management's discussion & analysis for the period Q1 2025, available on SEDAR+ at for a quantitative reconciliation of net income to adjusted EBITDA for that period. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Neither 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. SOURCE Simply Solventless Concentrates Ltd.

Fredericton opening 20-unit seniors housing complex this fall
Fredericton opening 20-unit seniors housing complex this fall

CTV News

time5 hours ago

  • CTV News

Fredericton opening 20-unit seniors housing complex this fall

David Hickey is pictured speaking at a lectern in front of housing development. (Source: Province of New Brunswick) A new public housing development in Fredericton will expand access to affordable housing, said the New Brunswick government in a news release Thursday. The 20-unit seniors complex on Charles Avenue is almost finished and expected to welcome residents in the fall, said the release. The units are coming when finding an affordable place to live is very challenging, said David Hickey, the minister responsible for the New Brunswick Housing Corporation. 'For a long time, government had gotten out of the business of building new homes,' Hickey said. 'Now it's great to see some of these new public housing developments preparing to accept new tenants.' Work is underway on 127 additional units at 13 sites across New Brunswick. Hickey also recently announced 22 new living spaces would be opening in Miramichi as part of three new housing developments. There are more than 4,600 public housing units in New Brunswick including close to 800 rural and Indigenous units. The housing corporation has several housing programs for renters and property owners. For more New Brunswick news, visit our dedicated provincial page.

Starlight U.S. Residential Fund Provides Update
Starlight U.S. Residential Fund Provides Update

Cision Canada

time6 hours ago

  • Cision Canada

Starlight U.S. Residential Fund Provides Update

Not for distribution to U.S. newswire services or for dissemination in the United States. TORONTO, July 17, 2025 /CNW/ - Starlight U.S. Residential Fund (TSXV: SURF.A) (TSXV: SURF.U) (the " Fund") announced the successful completion of a one-year extension maturing June 1, 2026 of the loan secured by the Fund's Sunlake Apartments property, a 268-suite Class "A" institutional quality multi-family property built in 2021 and located at 2700 Summershine St., Land O' Lakes, Florida 34638 (" Sunlake") (the " Extension"). Per the terms of the Extension, the loan is subject to certain conditions during the remaining loan term and bears interest-only payments at a fixed rate of 8.56% per annum with any debt service shortfall, as defined therein, being accrued and deferred until maturity. The Fund also previously announced that certain extension conditions for the loans secured by the Emerson at Buda property, a 304-suite Class "A" institutional quality multi-family property built in 2021 and located at 950 FM2001, Buda, Texas 78610 (" Buda" or the " Property"), were not achieved as of the initial maturity date of April 9, 2025. The Fund was pursuing good faith negotiations with the lenders to obtain a modification and extension of the loans secured respectively by the Property and by a pledge of the ownership interests (the " Pledged Interests"), in the entity that owns the Property. However, the Fund has now received a formal notice of an event of default (the " Notice") from one of the lenders (the " Lender") of the loans payable secured by the Pledged Interests. The Notice received expresses the Lender's right to demand repayment of the borrowings secured by the Pledged Interests. In the absence of a negotiated modification and extension of such loan, the Lender has the right to exercise the remedies available to it under the loan agreement, including a foreclosure of the of the Pledged Interests. If that remedy is exercised, the Lender would be able to foreclose on the Pledged Interests through a foreclosure sale process governed by the Uniform Commercial Code, resulting in the conveyance of the Pledged Interests to Lender, its designee or a third party purchaser at the foreclosure sale, with the proceeds of the sale applied to amounts owed to Lender under the loan. As at the date hereof, the Lender has not exercised any such remedies, however the Fund expects that the Lender may proceed with a foreclosure of the Pledged Interests as a result of having delivered the Notice. The loans secured by Buda do not carry cross-default provisions with any other property in the Fund. The Fund does not expect a material impact on its net asset value (as set out in the Management's Discussion and Analysis for the three months ended March 31, 2025) as a result of any remedies the lender may exercise. For additional information on the risks related to the Fund's ability to refinance or extend a loan at maturity, please refer to "Future Outlook" and "Liquidity and Capital Resources" in the Fund's Management's Discussion and Analysis for the three months ended March 31, 2025, which is available under the Fund's profile on FORWARD-LOOKING STATEMENTS This news release contains statements that may constitute forward-looking statements within the meaning of Canadian securities laws and which reflect the Fund's current expectations regarding future events, including the potential that the Lender exercises its remedies, a potential foreclosure of the Property, the proceeds from any sale of the Property and the impact on the Fund's net asset value. In some cases, forward-looking statements can be identified by terms such as "may", "might", "will", "could", "should", "would", "occur", "expect", "plan", "anticipate", "believe", "intend", "seek", "aim", "estimate", "target", "project", "predict", "forecast", "potential", "continue", "likely", "schedule", or the negative thereof or other similar expressions concerning matters that are not historical facts. The forward-looking statements in this news release involve risks and uncertainties, including those set forth in the Fund's materials filed with the Canadian securities regulatory authorities from time to time at Actual results could differ materially from those projected herein. Those risks and uncertainties include, among other things, risks disclosed in the Fund's management's discussion and analysis for the year ended December 31, 2024 and three months ended March 31, 2025, which is available under the Fund's profile on Information contained in forward-looking statements is based upon certain material assumptions that were applied in developing such forward-looking statements including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances, including that the net proceeds from the transaction will be used as described herein; Readers are cautioned against placing undue reliance on forward-looking statements. Except as required by applicable Canadian securities laws, none of the Fund or its manager undertake any 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 events. ABOUT STARLIGHT U.S. RESIDENTIAL FUND The Fund is a trust formed under the laws of Ontario for the primary purpose of indirectly acquiring, owning, and operating a portfolio of income producing multi-family and single family residential rental properties in the U.S. residential real estate market located primarily in Arizona, California, Colorado, Florida, Georgia, Idaho, Nevada, North Carolina, Oregon, South Carolina, Tennessee, Texas, Utah and Washington. The Fund now has interests in and operates a portfolio comprising interests in 1,597, Class "A" stabilized, income producing multi-family residential suites located in Tampa, Florida, Orlando, Florida, Austin, Texas, Phoenix, Arizona and Raleigh, North Carolina. ABOUT STARLIGHT INVESTMENTS Starlight Investments is a leading global real estate investment and asset management firm headquartered in Toronto, Ontario, Canada. A privately held owner, developer and asset manager of over 70,000 multi-residential suites and over 7 million square feet of commercial property space with CAD $30B AUM, Starlight offers a range of investment vehicles across various real estate strategies. Starlight's guiding mission is to balance its tenure with visionary curiosity to create positive impact for investors and communities alike. At Starlight, we invest with impact. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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