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Yahoo
2 hours ago
- Business
- Yahoo
Nexa Resources Reports Adjusted EBITDA Growth in Solid 2Q25 Performance
Adjusted EBITDA reached US$161 million, up 29% quarter-over-quarter, supported by higher smelting sales volume, stronger by-products sales volume and improved prices for copper, lead, silver and gold. Net income of US$13 million, reflecting operational improvements and strategic discipline. Cerro Pasco Integration Project advanced with construction permits for Phase I (Atacocha and El Porvenir), detailed engineering, and contractor mobilization. Luxembourg, Luxembourg--(Newsfile Corp. - July 31, 2025) - Nexa Resources (NYSE: NEXA), one of the world's leading zinc producers, reported Adjusted EBITDA of US$161 million in 2Q25, compared to US$125 million in 1Q25 and US$206 million in 2Q24. The quarter-over-quarter increase was mainly driven by higher smelting and by-products sales volumes and prices. The year-over-year decline primarily reflects higher operational costs, particularly at Cajamarquilla and at the Brazilian operations, along with lower smelting sales volume, which were partially offset by increased by-products contribution and favorable foreign exchange variations. The company also reported net income of US$13 million in 2Q25, compared to US$29 million in 1Q25 and a net loss of US$70 million in 2Q24. Despite a higher operating income in the quarter, the net income decrease versus 1Q25 was primarily driven by higher financial expenses in relation to a liability management initiative carried out early in the quarter, as well as lower financial income. Adjusted net income in the quarter amounted to US$37 million, totaling US$72 million in the first half of 2025. Net revenues in 2Q25 totaled US$708 million, up 13% from US$627 million in 1Q25. This increase was mainly attributed to higher smelting sales volume and increased by-products contribution, partially offset by lower zinc prices. Compared to 2Q24, net revenues decreased 4%, primarily due to lower zinc prices, copper and lead, along with reduced smelting sales volume. CAPEX totaled US$87 million in 2Q25, primarily allocated to sustaining investments, including mine development and operational maintenance. Of this amount, approximately US$17 million was invested in Phase I of the Cerro Pasco Integration Project, focused on the tailings pumping and piping system, totaling US$18 million in the first six months of the year, in line with our plan. Total consolidated CAPEX for the full-year 2025 guidance remains unchanged at US$347 million. During the quarter, Nexa made significant progress in its liability management strategy by issuing a US$500 million, 12-year bond with a 6.600% coupon rate. The proceeds were used to fund the early redemption of the remaining 2027 notes through a tender offer and subsequent make-whole call, as well as to repurchase approximately 72% of its outstanding 2028 notes. This initiative was designed to extend the company's debt maturity profile at a competitive cost, further strengthening its financial flexibility. The successful execution of this strategy reinforces investor confidence in Nexa's investment-grade profile. Commenting on the company's outlook, Ignacio Rosado, CEO of Nexa, said: "Looking ahead, we remain focused on operational excellence, disciplined capital allocation, and on being responsive and prepared to navigate global uncertainties. With intact long-term fundamentals and a portfolio of resilient assets, Nexa is well positioned to capitalize on both commodity market upturns and strategic investment opportunities. We maintain our commitment to safe, efficient operations and sustainable value creation for all stakeholders." Operational Performance In 2Q25, treated ore volume reached 3,285kt, remaining flat year-over-year. This volume reflects the gradual recovery from 1Q25 challenges, including the atypical heavy rainfall in Pasco, above-average water precipitation volumes at Aripuanã, and restricted access to high-grade zones at Vazante with delays that extended into early April. Zinc production reached 74kt in the quarter, up 9% quarter-over-quarter, reflecting improved performance across the Peruvian operations. Compared to 2Q24, zinc production decreased 12%, mainly due to lower output at Vazante and Aripuanã, in line with the revised 2025 guidance, partially offset by higher production at Atacocha and El Porvenir. Turning to other metals, copper production in 2Q25 reached 9kt, up 20% quarter-over-quarter, supported by higher volumes from Cerro Lindo and Aripuanã, and down 6% year-over-year, due to lower output at Cerro Lindo. Lead production totaled 15kt, a 20% increase compared to 1Q25, with positive contributions across all operations, while decreasing 9% year-over-year, mainly driven by lower production at Aripuanã and Cerro Lindo. Silver production amounted to 2.7 million ounces, up 12% quarter-over-quarter and down 6% from 2Q24. Zinc metal and oxide production totaled 139kt, up 5% quarter-over-quarter, supported by improved operational performance at Cajamarquilla and the successful implementation of recovery measures at Juiz de Fora following the December 2024 fire incident. Compared to 2Q24, production declined 9%, in line with the full-year 2025 sales guidance that anticipates an annual reduction of approximately 15kt compared to 2024, allowing us to navigate a volatile market environment and lower TCs (treatment charges). Zinc metal and oxide sales amounted to 145kt in 2Q25, up 12% quarter-over-quarter, mainly driven by higher production volumes at Cajamarquilla and Juiz de Fora, and higher zinc oxide output at Três Marias. Compared to 2Q24, sales decreased 2%, consistent with Nexa's strategic 2025 guidance. "Our mining operations regained momentum, following weather-related disruptions earlier in the year. We have adopted a prudent approach to revising full-year production and cost guidance as we prioritize operational stability, margin protection, and cash flow generation," remarked Mr. Rosado, highlighting the quarter's operational recovery. Growth strategy and asset portfolio In 2Q25, Nexa advanced on Phase I of the Cerro Pasco Integration Project, focused on upgrading the tailings pumping and piping systems to enhance operational efficiency and on extending the life of the mine complex. Key milestones achieved during the quarter included: (i) completing detailed engineering for tailings infrastructure at both El Porvenir and Atacocha; (ii) finalizing equipment procurement; (iii) securing construction permits; and (iv) initiating site preparation. Earthworks and civil works began in July, with completion expected by October. Preparatory work for Phase II, including technical assessments of the Picasso shaft and underground integration, continues according to plan. Nexa maintains a disciplined capital allocation framework, prioritizing sustaining investments, brownfield mineral exploration, and ESG and HS&E initiatives. The company remains focused on enhancing operational resilience and delivering long-term value through its most attractive assets and projects. ESG and Corporate Highlights In 2Q25, Nexa reaffirmed its commitment to safety, environmental stewardship, innovation, inclusive culture, and responsible governance. Across Brazil and Peru, the company implemented new initiatives focused on sustainability, decarbonization, stakeholder engagement, and financial resilience, reflecting its integrated approach to long-term value creation. Sustainability & Community Engagement: In April, Nexa published its 2024 Annual Sustainability Report, highlighting environmental, social, and financial achievements. That same month, the company hosted the second Aripuanã Water Seminar, fostering dialogue with local stakeholders and advancing the creation of the Aripuanã River Basin Committee. In Pasco, the San Juan de Milpo Sports Center was inaugurated to promote holistic education, health, and social inclusion. In May, Nexa signed cooperation agreements with associations near the Vazante mine - winners of its first Income Generation Social Call - supporting rural producers and boosting women's financial autonomy. Also in May, access to renewable energy was expanded in the Topará Valley (Ica) through a partnership with Triple Flag and support from the World Gold Council, installing six solar kits that benefit over 120 farming families near Cerro Lindo. Decarbonization & Innovation: In May, Nexa joined Brazil's largest charcoal forum to discuss bio-oil as a co-product of charcoal production, aligned with its decarbonization agenda. In June, the company signed a sector-wide MoU with eight mining companies during the 2025 Mining Innovation Summit to collectively eliminate CO₂e emissions. Also in June, Nexa launched SmartSupply, a digital solution to improve supply chain efficiency, already in testing in Brazil and soon to be implemented in Peru. In the same month, Nexa Brazil earned Gold Seal certification from the GHG Protocol Program (Fundação Getúlio Vargas) for its 2025 greenhouse gas inventory (base year 2024), recognizing its robust carbon reporting practices. Industry Leadership & Governance: In May, Nexa participated in the 2025 Sustainable Mining Conference (Chile), presenting the Morro Agudo exit case to highlight responsible mine closure practices. In June, the company engaged in key forums in Peru and Brazil, including AmCham Peru's Sustainability Forum (circular economy at Cajamarquilla) and Tailings Brazil 2025 (risk governance and dam safety). Also in June, Nexa hosted the Strategic Partners Meeting in Peru, with 134 representatives from 40 key contractor companies, reinforcing a culture of mutual trust and shared responsibility in safety. The company also celebrated LGBTQIAPN+ Pride Month across operations with initiatives promoting inclusion and respect. Financial & Corporate Milestones: On April 1st, Nexa raised US$500 million through a 12-year bond issuance at a competitive 6.600% coupon rate. The proceeds supported our proactive liability management strategy, including full redemption of 2027 notes and the repurchase of 72% of the outstanding 2028 notes. These transactions extended the company's debt maturity profile and enhanced its financial flexibility. On May 8th, Nexa held its Annual and Extraordinary Shareholders' Meetings, where all resolutions were approved, including a share premium reimbursement of US$13.4 million paid in June. About Nexa Nexa Resources is one of the world's leading zinc mining companies. Operating for over 65 years in the mining and metallurgy segments, Nexa has operations in Brazil and Peru, and offices in Luxembourg and the United States, supplying its products to every continent. Every day, its employees work with a commitment to building the mining that changes with the world, aiming for sustainability, innovation, and upholding the best safety practices, respect for people, and the environment. Since 2017, its shares have been traded on the New York Stock Exchange, with its majority shareholder being Votorantim S.A. For more information about Nexa and its ESG strategy and commitments, please visit our website. For a full version of the 2Q25 Earnings Release document, please visit our Investor Relations website at: For further information, please contact our teams: NEXA | Investor Relations NEXA | Communications & Corporate Affairs E-mail: ir@ E-mail: nexa@ 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
Associated Press
7 hours ago
- Business
- Associated Press
Marathon Des Sables Confirms Jordan as the 2025 Venue for the Fifth Year in a Row
Sports, culture, and hospitality merge in a global event that once again turns Jordan into an international stage for endurance, exploration, and unity. Amman, Jordan--(Newsfile Corp. - July 31, 2025) - In a major announcement for Jordan's tourism sector, Minister of Tourism and Antiquities, Lina Annab, and CEO of the Global Marathon Des Sables (MDS), Cyrilie Gauthier, held a press conference in Amman to officially launch the fifth international edition of the Marathon des Sables, scheduled to take place in Wadi Rum from November 1 to 8, 2025. [ This image cannot be displayed. Please visit the source: ] Marathon Des Sables confirms Jordan as the 2025 venue for the fifth year in a row To view an enhanced version of this graphic, please visit: The desert ultramarathon, organized by the Jordan Tourism Board (JTB) and Experience Jordan Adventures, is one of the world's most challenging endurance races, that brings together about 650 runners from across the European Union and beyond. The growth of this global event in Jordan has been a testament to the country's ideal setting and this year the event is expected to be the largest ever. Minister Annab said, 'Hosting the Marathon des Sables in Jordan for the fifth year in a row firmly cements our country's position as a premium adventure travel destination. Over the past decade, Jordan has made significant strides in shaping its adventure tourism landscape, investing in trails, infrastructure, and authentic experiences that connect visitors with our nature, culture, and heritage. From the world-renowned Jordan Trail, which spans more than 650 kilometers through diverse terrains and communities, to this iconic race set against the magnificent backdrop of Wadi Rum, Jordan continues to spotlight the richness and variety of its outdoor offerings.' Minister Annab concluded by extending her 'gratitude to the organizers of the Marathon des Sables, and to all the extraordinary runners joining us from around the world. We look forward to welcoming them this November and wish each participant the very best of luck on this extraordinary journey.' The CEO of MDS stated, 'MDS Jordan has become the crown jewel of our global series. Its extraordinary landscapes, unmatched hospitality, and the emotional connection it creates with runners from around the world have set a new benchmark for what adventure racing can be. But this is only the beginning. We believe this is the right country to grow, innovate, and build a long-term vision where sport, culture, and tourism intersect in a powerful way. Jordan has all the ingredients to become a global hub for our endurance events, and we are proud to be part of that journey.' Managing Director of the Jordan Tourism Board, Dr. Abdelrazzak Arabiyat, stated: 'We at the Jordan Tourism Board are proud to support world-class events like the Marathon des Sables. This event not only highlights Jordan's stunning landscapes, but also reflects our ongoing efforts to position the Kingdom as a leading destination for adventure tourism. Through such events, we welcome responsible travelers who are seeking authentic connections with nature, culture, and history. Events like this help visitors discover the true spirit of Jordan and the richness that makes our country truly unique.' Commenting on the occasion, CEO of Experience Jordan Adventures, Ayman Abd-AlKareem, said, 'As the official local partner, Experience Jordan Adventures is proud to continue hosting this iconic race, which brings together hundreds of international runners in a celebration of endurance, connection, and discovery.' He stressed the team's commitment to sustainability and community partnership in Wadi Rum, expressing gratitude for the ongoing support of the Ministry of Tourism, Aqaba Special Economic Zone Authority (ASEZA), and the Jordan Tourism Board in strengthening Jordan's position as a leading adventure travel destination. As a host of the Marathon des Sables, Jordan marks a milestone in its emergence as a leading destination for international sporting and adventure tourism. More than just a race, it offers a transformative experience that blends endurance, culture, and exploration against the breathtaking backdrop of Wadi Rum's desert landscapes. As global interest in adventure travel continues to rise, MDS Jordan positions the country at the forefront of this growing sector, attracting high-value international visitors and supporting the national tourism strategy by showcasing Jordan's natural beauty, heritage, and hospitality on the world stage. Contact: Mr. Alaa Alhindi Director of Communications [email protected] To view the source version of this press release, please visit
Yahoo
9 hours ago
- Business
- Yahoo
Group Eleven Closes C$5.75M Bought Deal Private Placement, Including Full Exercise of C$750,000 Underwriters' Option
Vancouver, British Columbia--(Newsfile Corp. - July 31, 2025) - Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) (the "Company") is pleased to announce the closing of its previously-announced "bought deal" private placement for aggregate gross proceeds of C$5,750,000 (the "Offering") through the issuance of 17,968,750 common shares of the Company (the "Common Shares") at a price of C$0.32 per Common Share. The Offering was completed pursuant to an underwriting agreement between the Company, and Cormark Securities Inc. and Beacon Securities Limited (together, the "Underwriters") and included the full exercise of the Underwriters' option. The Company intends to use the net proceeds from the Offering to expand the remaining funded exploration drill program at Ballywire from approximately 5,000m to approximately 25,000m, and for working capital and general corporate purposes. The Common Shares were offered and sold in Canada pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "LIFE exemption") and pursuant to the accredited investor exemption under section 2.3 of NI 45-106 (the "Accredited Investor exemption"). The Common Shares were also offered and sold in certain jurisdictions outside of Canada where there would be no prospectus filing or comparable obligation, ongoing reporting requirement or requisite regulatory or governmental approval in such jurisdictions. The Common Shares issued under the Offering to Canadian purchasers (other than in the province of Québec) and offshore purchasers pursuant to the LIFE exemption are not subject to a hold period, subject to the hold period imposed by the TSX Venture Exchange for an insider purchaser described below. The Common Shares issued under the Offering pursuant to the Accredited Investor exemption are subject to a hold period of four months and one day. In connection with the Offering, the Company paid the Underwriters an aggregate cash commission of C$314,550 and issued to the Underwriters an aggregate of 887,812 compensation warrants (the "Compensation Warrants"). Each Compensation Warrant is exercisable to acquire one Common Share at a price of C$0.32 until July 31, 2027, subject to adjustment in certain events. The Compensation Warrants are subject to a hold period of four months and one day. Glencore Canada Corporation ("Glencore") did not exercise its participation right, which was triggered by the Offering. Following completion of the Offering, Glencore holds an approximate 14.1% ownership interest in the Company. A director of the Company (the "Insider") acquired 156,250 Common Shares pursuant to the Offering. Participation by the Insider in the Offering was a "related party transaction" within the meaning of that term in Multilateral Instrument 61-101 - Protection of Minority Shareholders in Special Transactions ("MI 61-101"). The Company is relying on the exemptions from the formal valuation requirement set out in section 5.5(a) and the minority approval requirement set out in section 5.7(1)(a) of MI 61-101 on the basis that, at the time the Offering was agreed to, neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Offering, insofar as it involved interested parties, exceeded 25% of the Company's market capitalization. The Company did not file a material change report at least 21 days in advance of the closing of the Offering as the participation of the Insider in the Offering had not been confirmed at that time. The Common Shares issued to the Insider are subject to a hold period of four months under the policies of the TSX Venture Exchange. Qualified Person Technical information in this news release has been approved by Professor Garth Earls, Eur Geol, FSEG, geological consultant at IGS (International Geoscience Services) Limited, an independent 'Qualified Person' as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. About Group Eleven Resources Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) and (FSE: 3GE) is drilling the most significant mineral discovery in the Republic of Ireland in over a decade. The Company announced the Ballywire discovery in September 2022, demonstrating high grades of zinc, lead, silver, copper, germanium and locally, antimony. Key intercepts to date include: 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03) 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06) 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12) 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03) 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18) 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27) 12.0m of 1.4% Zn+Pb, 560 g/t Ag, 2.30% Cu and 0.17% Sb (25-3552-31), including 6.4m of 2.1% Zn+Pb, 838 g/t Ag, 3.72% Cu and 0.27% Sb (25-3552-31) 39.7m of 9.5% Zn+Pb, 131 g/t Ag and 0.27% Cu (25-3552-35) Ballywire is located 20km from Company's 77.64%-owned Stonepark zinc-lead deposit1, which itself is located adjacent to Glencore's Pallas Green zinc-lead deposit2. The Company's two largest shareholders are Michael Gentile (15.3%) and Glencore Canada Corporation (15.2% interest). Additional information about the Company is available at ON BEHALF OF THE BOARD OF DIRECTORSBart Jaworski, Chief Executive Officer E: | T: +353-85-833-2463 E: | T: 604-781-4915 Cautionary Note Regarding Forward-Looking Information This press release contains forward-looking information ("forward-looking statements") within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the use of proceeds from the Offering, the future results of operations, performance and achievements of the Company, including the Company drilling the most significant mineral discovery in the Republic of Ireland in over a decade. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company's public disclosure filings may be accessed via and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties. 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. 1 Stonepark MRE is 5.1 million tonnes of 11.3% Zn+Pb (8.7% Zn and 2.6% Pb), Inferred (Apr-17-2018)2 Pallas Green MRE is 45.4 million tonnes of 8.4% Zn+Pb (7.2% Zn + 1.2% Pb), Inferred (Glencore, Dec-31-2024) Not for distribution to U.S. news wire services or dissemination in the United States To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
California Nanotechnologies Announces Q1 2026 Results
Quarterly revenue of US$717K with significant improvements to customer concentration Adjusted EBITDA1 loss of US$151K and Positive Cash Flow from Operations of US$72K Manufacturing revenues excluding "green steel" customer increased US$350K or 156% YOY Los Angeles, California--(Newsfile Corp. - July 30, 2025) - California Nanotechnologies Corp. (TSXV: CNO) (OTCID: CANOF) ("Cal Nano" or the "Company") is pleased to announce revenues of US$716,553 for the quarter ended May 31, 2025. This represents a decrease of 59% compared to the prior year. Adjusted EBITDA1 was a loss of US$152,707 for the fiscal quarter ended May 31, 2025, compared with positive Adjusted EBITDA of US$754,467 in the prior year. Net loss for the fiscal quarter was US$447,887, compared to net income of US$696,042 in the prior fiscal year. The lower net income was mainly due to the lower revenues and gross profit, higher overhead from the Santa Ana manufacturing facility, and growth investments such as the recently announced ISO9001 certification. The previous year's fiscal quarter also benefited from a US$141,829 non-cash, unrealized gain on share purchase warrants2. Diluted earnings per share for the fiscal year was $0.00 compared to diluted earnings per share of $0.01 for the same period last year. The financial statements are available on SEDAR+ at and on the Company's website. "This quarter was impacted by a reduction in revenues from our green steel customer as previously disclosed," stated CEO Eric Eyerman. "In recent quarters, we have pursued efforts to diversify our customer base and transition to longer-term recurring commercial contracts. We saw progress from this initiative with manufacturing revenues, excluding the green steel client, growing 156% year-over-year and customer concentration down significantly. We expect revenue improvements in subsequent quarters as we ramp up business with existing customers and bring new ones online, with whom we are in advanced discussions." The decrease in revenues for Q1/FY2026 was primarily driven by both the slowdown in the green steel customer and a reduction in equipment deliveries. Revenues from the green steel customer and equipment deliveries were US$144,198, for the fiscal quarter, representing 20% of revenues. This is compared to US$1,526,410 for the same quarter in the prior fiscal year, representing 87% of revenues. Manufacturing revenues from all other customers were US$572,355, representing a 156% increase year-over-year and showcases the Company's efforts to build a more resilient revenue base. While we cannot predict when or if the green steel customer will resume their previous level of activities, Cal Nano is focused on improving the overall utilization of equipment and contribution margin with a larger portfolio of customers. As previously announced in April 2025, Cal Nano secured its first commercial production orders for its cryomilling technologies with Oerlikon Metco (US) Inc. and AbTech Industries Inc. Since the announcement, the Company has successfully delivered the first batches of product and expects to receive subsequent purchase orders from both companies. In addition, Cal Nano is in advanced discussions with existing and new customers for commercial production mandates spanning the automotive, defense, energy, and industrial sectors. For the remainder of FY2026, Cal Nano believes that it is well positioned to support potential growth with its key investments in personnel, capabilities, and over US$2 million in recent equipment purchases. As a result, the Company expects that Q2/FY2026 will show progress in the diversification and growth strategy, and result in improved revenue and adjusted EBITDA over Q1/FY2026. Financial Highlights Amounts in USD Three monthsendedMay 31, 2025 Three months endedMay 31, 2024 Period-over-period change Revenues 716,553 1,748,826 (59%) Cost of Goods Sold 308,492 599,153 (49%) Gross Profit 408,061 1,149,673 (64%) Gross Margin1 57% 65% (800bps) Net Income/(Loss) (447,887) 696,042 (164%) Income/(loss) Per Share -Diluted $0.00 $0.02 - Cash Flow from/(for) Operations 71,589 (283,520) 125% EBITDA1 (247,021) 874,941 (128%) Adjusted EBITDA1 (152,707) 754,467 (120%) About California Nanotechnologies Corp. At Cal Nano, we envision a world in which our advanced technologies are used to help make the most innovative products on this planet and beyond. With our unique expertise in processing metallurgic powders into parts, global leaders trust us to help push the boundaries of applied material science. Headquartered in Greater Los Angeles, California, Cal Nano hosts advanced processing and testing machinery and capabilities across two manufacturing facilities for materials research and production needs. Our customers range from Fortune 500 companies to startups with programs spanning aerospace, renewable energy, defense, and semiconductors. For further information, please contact: California Nanotechnologies Corp. Eric Eyerman, CEOT: +1 (562) 991-5211info@ Panolia Investor Relations Chow, Principal & FounderT: +1 (647) 598-8815brandon@ Non-IFRS Measures and Reconciliation of Non-IFRS Measures This press release makes reference to certain non-IFRS measures. These non-IFRS measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing a further understanding of results of operations of Cal Nano from management's perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the financial information of Cal Nano reported under IFRS. The Company uses non-IFRS measures such as EBITDA to provide investors with a supplemental measure of operating performance and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. Management also believes that securities analysts, investors and other interested parties frequently use non-IFRS measures in the evaluation of issuers. Management also uses non-IFRS measures in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess the Company's ability to meet its capital expenditure and working capital requirements. "EBITDA" means the earnings before interest, income taxes, depreciation, and amortization, where interest is defined as net finance costs as per the consolidated statement of comprehensive income. "EBITDA margin" means the earnings before interest, income taxes, depreciation, and amortization, where interest is defined as net finance costs as per the consolidated statement of comprehensive income as a percentage of total revenues. "Adjusted EBITDA" refers to earnings before interest, income taxes, depreciation, amortization, share-based compensation, and the unrealized gain on share purchase warrants, with interest defined as net finance costs as per the consolidated statement of comprehensive income. "Adjusted EBITDA margin" refers to earnings before interest, income taxes, depreciation, amortization, share-based compensation, and the unrealized gain or loss on share purchase warrants, with interest defined as net finance costs as per the consolidated statement of comprehensive income as a percentage of total revenues. Reconciliations and Calculations The tables set forth below provides a quantitative reconciliation of Gross Margin and EBITDA, which are Non-IFRS financial measures, to the most comparable IFRS measure disclosed in the Company's financial statements. The reconciliation of Non-IFRS measures to the most directly comparable measure calculated in accordance with IFRS is provided below where appropriate. Gross Margin Reconciliation Amounts in USD Three monthsendedMay 31, 2025 Three months endedMay 31, 2024 Revenues 716,553 1,748,826 Cost of Goods Sold 308,492 599,153 Gross Profit 408,061 1,149,673 Gross Margin 57% 65% EBITDA and Adjusted EBITDA Reconciliation Amounts in USD Three monthsendedMay 31, 2025 Three months endedMay 31, 2024 Net Income/(Loss) (447,887) 696,042 Depreciation & Amortization 173,635 115,547 Interest Expense 27,231 63,352 Income Tax Expense - - EBITDA (247,021) 874,941 EBITDA Margin (34%) 50% Share-based Compensation 95,566 21,355 Loss/(Gain) on Share Purchase Warrants (1,252) (141,829) Adjusted EBITDA (152,707) 754,467 Adjusted EBITDA Margin (21%) 43% Derivative Liability Recognition for Warrant Issuance under IFRS On October 30, 2023, the Company successfully closed an issuance of units comprising common shares and warrants, encompassing an aggregate of 5,000,000 warrants, each with an exercise price of CA$0.25. As a result of the Company reporting its financial results denominated in US dollars, and in adherence to the International Financial Reporting Standards (IFRS), the Company is required to report a derivative liability attributable to the aforementioned warrants. Consequently, the Company will recognize a non-cash charge or income inclusion on a quarterly basis, predicated upon the fluctuation in the market price of the Company's shares, until such time as the warrants either are exercised or expire. Reader Advisory Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to: future financial results, including anticipated profitability and/or lack thereof; statements about future plans, including statements about the planned expansion of the Company's manufacturing capacity, and new sites for the Company's production and headquarters; demand for the Company's services by current and future customers, including existing and future orders for the Company's SPS equipment and the anticipated revenue therefrom; and the expected future performance of the Company. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; a significant change in demand for the Company's services and products; industry conditions, governmental regulation, including environmental regulation; the effects of product development and need for continued technological change; the effect of government regulation and compliance on the Corporation and the industry; research and development risks; reliance on key personnel; operations in foreign jurisdictions; protection of intellectual property rights; contractual risk; third-party risk, risk of technological or scientific obsolescence; dependence of technical infrastructure; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR+ at Readers are cautioned that this list of risk factors should not be construed as exhaustive. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information. Neither 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. 1 Non-IFRS Measure2 See disclosure under "Derivative Liability Recognition for Warrant Issuance under IFRS" 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
Globe and Mail
2 days ago
- Business
- Globe and Mail
Imagen Network Expands Decentralized Infrastructure by Incorporating XRP for Fast Peer Transactions
XRP integration improves transaction speed and scalability for AI-powered social tools. Singapore, Singapore--(Newsfile Corp. - July 30, 2025) - Imagen Network (IMAGE), the decentralized AI social platform, has integrated XRP to accelerate peer-to-peer transactions and scale its intelligent social infrastructure. This enhancement supports real-time content delivery, creator engagement, and community interaction across Web3 applications. Advancing decentralized interaction through intelligent, real-time peer connectivity To view an enhanced version of this graphic, please visit: The adoption of XRP architecture enables low-latency transactions for reward distribution, AI service access, and identity-linked user activity. Imagen's AI systems can now operate more efficiently, connecting creators and communities with immediate value transfer and seamless wallet compatibility. This move strengthens Imagen's commitment to building a fast, scalable ecosystem for social expression, empowering developers to build AI-enhanced experiences backed by secure and interoperable financial tools. As Imagen evolves its personalization and moderation layers, XRP will serve as a foundational mechanism in supporting reliable and user-friendly payment rails. With growing demand for decentralized creative autonomy, Imagen Network's alignment with XRP reflects its broader vision of frictionless, intelligent interaction across the social web. About Imagen Network Imagen Network is a decentralized social platform that blends AI content generation with blockchain infrastructure to give users creative control and data ownership. Through tools like adaptive filters and tokenized engagement, Imagen fosters a new paradigm of secure, expressive, and community-driven networking.
