Latest news with #TORONTO
Globe and Mail
a day ago
- Business
- Globe and Mail
Fidelity Investments Canada ULC Announces Cash Distributions for Certain Fidelity ETFs and ETF Series of Fidelity Mutual Funds
TORONTO, July 22, 2025 /CNW/ - Fidelity Investments Canada ULC today announced the July 2025 cash distributions for the Fidelity ETFs (" Fidelity ETFs") and ETF Series of Fidelity mutual funds (" Fidelity Funds") listed below.
Reuters
3 days ago
- Business
- Reuters
Breakingviews - Stablecoins set up another Trump-Fed showdown
TORONTO, July 21 (Reuters Breakingviews) - Dollar-backed stablecoins could set up another showdown between the Federal Reserve and Donald Trump's administration. Firms like $55 billion Circle Internet Group, opens new tab(CRCL.N), opens new tab and Ripple, opens new tab hope to bypass traditional lenders by applying for bank licenses. But a bigger prize would be to bag a so-called master account with the central bank. The U.S. House of Representatives last week passed the GENIUS Act, which outlines how issuers of digital dollars will be regulated. Circle, Ripple and others must back tokens with high-quality liquid assets and publicly disclose their reserves. The hope is that it will give businesses the confidence to accept stablecoins for mainstream payments. Like most fintech startups, crypto firms are currently limited in how they operate. That's why fintechs generally team up with regulated banks to offer services in a practice popularly known as 'Rent-a-Charter'. This allows banks to lower the cost of acquiring new customers by 82.5% to 95%, according to, opens new tab Oliver Wyman, but keeps the fintech firms dependent. The GENIUS Act lets stablecoin issuers act as custodians of their own tokens, provided, opens new tab they are overseen by a federal regulator. That's one reason crypto firms are applying to the Office of the Comptroller of the Currency (OCC) to become banks. As well as saving on custody fees, licenses allow them to offer services like settling transactions and trades. The OCC began allowing this, opens new tab during Trump's first term in 2020, but under his successor Joe Biden regulators required, opens new tab them to seek permission. Only KKR-backed, opens new tab Anchorage Digital managed to get its application approved, opens new tab and keep it during that period. Now the industry expects more favorable treatment. The Biden-era requirement was rescinded, opens new tab in May, while the U.S. Senate this month confirmed Jonathan Gould, previously the top lawyer at crypto firm Bitfury, to head the OCC. An even bigger prize for crypto firms would be getting a so-called master account with the Fed. Ripple unit Standard Custody is seeking one, opens new tab. Such accounts allow firms to move even large sums through the Fedwire payment system quickly, rather than paying other banks. Yet the central bank has been conservative, opens new tab in approving such applications. It groups applicants based on whether they are insured by the Federal Deposit Insurance Corporation. Stablecoin issuers and crypto firms are in lower tiers. Jason Mikula of Fintech Business Weekly calculates, opens new tab the Fed has approved 86% of applications from FDIC-insured firms, but only 1 of 39 from lower-tier firms since 2022. It's hard to imagine the crypto industry won't put up another fight. Wyoming-based Custodia has launched an appeal, opens new tab after being denied an account. Trump has criticized Fed Chair Jerome Powell, complaining that interest rates are too high. The central bank's new top watchdog, Michelle Bowman, may be more open to easing some regulations. Even so, a flood of applications from crypto firms would test the Fed's willingness to swim with the pro-cryptocurrency tide.
Hamilton Spectator
3 days ago
- Sport
- Hamilton Spectator
Brewers sweep Dodgers, extend win streak to 10 games
LOS ANGELES (AP) — Abner Uribe retired Mookie Betts with the bases loaded for the final out, and the Milwaukee Brewers beat the Los Angeles Dodgers 6-5 on Sunday for their 10th straight victory. Shohei Ohtani hit a two-run homer for the Dodgers, but Isaac Collins snapped a sixth-inning tie with a two-run single as the Brewers finished 6-0 this season against the defending World Series champions. They extended their longest winning streak since 2021 by sweeping the NL West leaders for the second time in two weeks. Los Angeles has dropped 10 of 12 overall. Collins' two-out single to center field off reliever Lou Trivino (3-1) broke a 4-all tie and put Milwaukee ahead for good after a back-and-forth start. The Dodgers cut their deficit to a run in the ninth and loaded the bases with two outs, but Uribe got Betts to line out to center for his sixth major league save and second this year. Jose Quintana (7-3) allowed four runs over six innings for the win. Los Angeles starter Clayton Kershaw permitted five hits and three runs (two earned) in 4 1/3 innings. Ohtani launched his 34th homer of the season and Esteury Ruiz hit his first with the Dodgers. First baseman Freddie Freeman exited in the sixth after getting hit by a pitch on his left wrist. BLUE JAYS 8, GIANTS 6 TORONTO (AP) — Addison Barger hit a two-run home run, Vladimir Guerrero Jr. and George Springer added hit solo shots and Toronto beat San Francisco to complete a three-game sweep and match a franchise record with its 10th consecutive home win. Toronto also won 10 straight at home July 21-August 3, 1985. Toronto's current streak began with a four-game series sweep of the Yankees from June 30 to July 3, overtaking New York for the AL East lead. The Blue Jays followed that with a three-game sweep of the Los Angeles Angels. The Yankees and Blue Jays open a three-game series in Toronto on Monday. Since a three-game sweep of San Diego in late May, the Blue Jays have won 22 of 26 at home. Guerrero reached base three times and drove in two as Toronto improved to 12-3 in July. The series sweep was their eighth of the season. Toronto's José Berríos (6-4) allowed four runs and eight hits in 5 2/3 innings and won for the fourth time in six starts. Yariel Rodríguez finished for his second save in three chances. Ray (9-4) allowed five runs and five hits in 4 1/3 innings. The left-hander matched a season-high with five walks. PARDES 8, NATIONALS 1 WASHIGNTON (AP) — Xander Bogaerts hit a grand slam in the first inning, Elias Díaz also homered and San Diego routed Washington. Bogaerts hit the first pitch he saw from MacKenzie Gore (4-9) into the seats in left for his sixth homer of the season and eighth career grand slam. Jake Cronenworth had an RBI double to make it 5-0 before the Nationals batted. Padres starter Nick Pivetta (10-2) allowed one run in six innings while striking out five. Pivetta is 3-0 with a 0.57 ERA in his last five starts. The Padres improved to 54-45, winning two of the three in the weekend series and five of their last seven. Riley Adams homered in the fifth for Washington. The Nationals have lost 10 of 12 — going 2-7 under interim manager Miguel Cairo — to drop to 39-60. Díaz lined a two-run shot to left in the third to end Gore's outing. Gore tied his career high with eight runs allowed in a season-low 2 1/3 innings. San Diego center fielder Jackson Merrill was scratched due to illness about a half-hour before the game. GUARDIANS 8, ATHLETICS 2 CLEVELAND (AP) — David Fry had a career-high four RBIs, Gavin Williams struck out 11 and Cleveland defeated the Athletics to take the weekend series. Angel Martínez had three hits, including a home run to lead off the seventh inning, for the Guardians, who have won eight of 10 after a 10-game losing streak. Nick Kurtz had a pair of doubles for the Athletics, who have lost nine of their last 10 in Cleveland. Williams (6-4) tied a career high in going seven innings and got his first win since June 1. He is 2-1 in his last nine starts. The right-hander — who gave up one run and four hits — struck out five of the first six Athletics hitters he faced. It was his first double-digit strikeout game since Aug. 12, 2023, against Tampa Bay. Athletics starter Jeffrey Springs (8-7) had his two-game winning streak snapped after he allowed five runs and nine hits in four innings. WHITE SOX 7, PIRATES 2 PITTSBURGH (AP) — Miguel Vargas and Mike Tauchman hit back-to-back homers in a four-run first inning, and Chicago cruised to a victory over struggling Pittsburgh for its first series sweep this season. Vargas hit a three-run shot to open the scoring against Andrew Heaney, his 11th homer of the year but first since June 15. Tauchman followed by launching a drive that carried over the right-field stands and bounced into the Allegheny River. The White Sox became the last major league team to sweep a series this season as they sent the Pirates to their 11th loss in 12 games. Tauchman hit a two-run double in the fifth to chase Heaney and extend the lead to 7-1. Aaron Civale (2-6) got his first win in seven starts since being acquired from Milwaukee in a June 13 trade. He gave up one unearned run and three hits in six innings with six strikeouts. Vargas, Tauchman, Chase Meidroth and Michael A. Taylor each had two hits for the White Sox. Heaney (4-9) was tagged for seven runs and nine hits in four innings. The left-hander has lost six of seven decisions since May 26. YANKEES 4, BRAVES 2 ATLANTA (AP) — Aaron Judge hit his 36th home run of the season and tied Alex Rodriguez for sixth place in Yankees history as New York defeated Atlanta. Judge's solo homer in the first inning was his 351st with the Yankees, matching A-Rod and behind Babe Ruth (659), Mickey Mantle (536), Lou Gehrig (493), Joe DiMaggio (361) and Yogi Berra (358). Judge also scored from first on Jazz Chisholm Jr.'s double in the seventh and finished 1 for 4 with a walk and two runs scored. Marcus Strohman (2-1) worked six strong innings in his fourth start since returning from a knee injury. He gave up one run on five hits with four strikeouts and no walks in his longest outing of the season. Paul Goldschmidt was 1 for 3 with a walk, an RBI and a run scored, and Giancarlo Stanton was 3 for 5 with a run scored. Ronald Acuña Jr. hit a solo home run, his 13th, in the ninth off Devin Williams, who earned his 14th save for the Yankees. Matt Olson hit a 442-foot homer, his 18th, that hit the top of the Chop House in right field in the sixth inning for the Braves' other run. Atlanta's Grant Holmes (4-9) gave up three runs on seven hits in six innings. ROYALS 7, MARLINS 4 MIAMI (AP) — Kris Bubic pitched five shutout innings, Salvador Perez homered and doubled and Kansas City beat Miami to avoid a three-game sweep and end the Marlins' winning streak at four. Bubic (8-6) gave up three hits and a walk. Andrew Hoffmann came on in the ninth and gave up four runs — none earned — in two-thirds of an inning before Carlos Estévez got the final out for his 26th save. Perez hit his 15th homer of the season in the eighth. Kansas City took a 3-0 lead in the fourth, and made it 6-0 in the fifth. In the fourth, Bobby Witt Jr. scored on Maikel Garcia's sacrifice fly, Perez hit a ground-rule double and Jac Caglianone followed with a two-run double off starter Janson Junk (4-2). In the fifth, Jonathan India had a two-run double and Vinnie Pasquantino added an RBI sacrifice fly. Xavier Edwards and Agustín Ramírez each had two RBIs for Miami. METS 3, REDS 2 NEW YORK (AP) — Juan Soto dashed home with the go-ahead run in the eighth inning, beating a throw to the plate on Luis Torrens' sharp grounder to second base, and New York avoided a three-game sweep with a win over Cincinnati. Soto led off the inning by drawing a walk from Brent Suter (1-1) and went to third on Jeff McNeil's one-out double. With the infield playing in, Tony Santillan got Torrens to hit a hard grounder to second baseman Matt McLain, but Soto got an excellent jump and scored with a headfirst slide as the one-hop throw arrived. Ryne Stanek earned his second save with a scoreless ninth. Edwin Díaz (5-0) blew a save opportunity for the second time this season when he plunked Spencer Steer with a pitch to force home the tying run in the eighth. Díaz then struck out Tyler Stephenson to leave the bases loaded. Brandon Nimmo had an RBI single in the third and No. 9 hitter Luisangel Acuña gave the Mets a 2-1 lead with a run-scoring double in the fifth. RED SOX 6, CUBS 1 CHICAGO (AP) — Wilyer Abreu homered twice and drove in three runs, and Boston beat Chicago to avoid a series sweep. Alex Bregman also connected as Boston rallied after managing just one run in its first two games after the All-Star break. Garrett Crochet (11-4) pitched six effective innings in his fourth consecutive win. The Red Sox went ahead to stay when Trevor Story opened the seventh with a walk and Abreu hit a drive to right-center off Ryan Pressly (2-3) for his 19th homer. Bregman broke it open with a pinch-hit shot off Drew Pomeranz for a three-run homer in the eighth. Abreu tacked on a two-out solo drive against Ethan Roberts. It was Abreu's fourth multihomer game of the season and No. 5 for his career. He hit a total of 17 homers in his first two years in the majors. Boston improved to 12-3 in July. It had won 10 in a row going into the series. Chicago wasted a sharp performance by Cade Horton, who pitched 5 2/3 innings of two-hit ball. The Cubs had won five of six. Crochet allowed eight hits in his first start since July 12. The All-Star left-hander struck out five and walked two. Chicago scored its only run in the second. Pete Crow-Armstrong hit a leadoff double and Dansby Swanson followed with an infield single. After Crow-Armstrong was caught stealing third, Swanson raced home from second on Ian Happ's single to right. ANGELS 8, PHILLIES 2 PHILADELPHIA (AP) — Jose Soriano limited Philadelphia to two runs in seven innings, Taylor Ward had a three-run double and Los Angeles beat the Phillies for a series victory. Soriano (7-7) allowed six hits and struck out five. He was touched for a run in the second inning on an RBI single by Rafael Marchan, and the Phillies mustered little else until Otto Kemp's two-out home run in the sixth. The Angels scored five runs in the second against Ranger Suarez (7-4), who allowed six earned runs in 4 1/3 innings. Zach Neto singled in a run in the second, and Ward followed with his three-run double. LaMonte Wade Jr. homered in the sixth. He replaced Nolan Schanuel in the first after Schanuel was hit in the wrist by a pitch. TWINS 7, ROCKIES 1 DENVER (AP) — Royce Lewis hit two home runs — his first career multihomer game — and Joe Ryan struck out 11 in seven innings as Minnesota beat Colorado Rockies to prevent a three-game sweep. Coming off his first All-Star appearance, Ryan (10-4) gave up one run and five hits with no walks. The right-hander worked a scoreless fourth inning with two strikeouts in the All-Star Game last Tuesday night at Atlanta. Griffin Jax and Jhoan Duran each threw a scoreless inning of relief for the Twins. Matt Wallner hit a two-run homer off starter Germán Márquez (3-11) in the third and Harrison Bader added a solo shot for the Twins. ORIOLES 5, RAYS 2 TAMPA, Fla. (AP) — Jackson Holliday, Alex Jackson and Ryan O'Hearn homered to lead Baltimore to a rain-delayed win over Tampa Bay. The game at George M. Steinbrenner Field was delayed for 2 hours, 36 minutes before the seventh inning. Holliday hit his 13th homer of the season on the second pitch of the game from Tampa Bay's Ryan Pepiot (6-8). Jackson opened a three-run third with his first home run of the season, and O'Hearn's shot in the sixth was his 12th of the season. Gunnar Henderson capped Baltimore's outburst in the third inning with a two-run single. Trevor Rogers (3–1) allowed two runs on five hits over six innings while striking out three as the Orioles snapped a four-game skid. Closer Felix Bautista allowed his second run in his last 17 appearances in the ninth and got out of a bases-loaded jam by striking out Junior Caminero for his 19th save. Caminero had an RBI single in the third inning and Danny Jansen hit a solo homer, his 11th, in the fourth for the Rays. Ryan Pepiot (6–8) went six innings for Tampa Bay, giving up five runs on six hits. He struck out eight and walked one. DIAMONDBACKS 5, CARDINALS 3 PHOENIX (AP) — Eugenio Suárez homered twice for the second consecutive day and Merrill Kelly allowed two runs in six innings to help Arizona beat St. Louis. Suárez has six multihomer games this season — including a four-homer game on April 26 — and leads the majors with 20 home runs since June 1. He launched a three-run drive off starter Miles Mikolas (5-7) in the first inning and a solo shot in the third. The slugger leads the National League with 35 homers, one more than Dodgers superstar Shohei Ohtani, and his 85 RBIs are tops in the big leagues — two ahead of Seattle catcher Cal Raleigh. Yohel Pozo, Jordan Walker and Victor Scott II drew consecutive walks to load the bases for St. Louis with no outs in the fifth. Pozo scored on Brendan Donovan's groundout to make it 5-2, but Kelly (9-5) struck out Iván Herrera before Alec Burleson grounded out to end the threat. ASTROS 11, MARINERS 3 SEATTLE (AP) — Christian Walker hit a go-ahead solo homer in the sixth inning as Houston rallied from an early three-run deficit and beat Seattle to avoid a series sweep. Walker, who entered the game hitting .333 in July, hit his third homer of the month and 13th of the season to left field off Mariners All-Star Bryan Woo (8-5) . Two batters later, Taylor Trammell added his second homer of the season to double the Astros' lead. Trammell added a two-run double in the seventh inning. The Astros were resilient after falling behind 3-0 after three innings. They tied the game in the fifth on a fielding error by J.P. Crawford and a two-run double by Cam Smith . Houston starter Hunter Brown allowed three runs on six hits with seven strikeouts in four innings. Four relievers worked five shutout innings with right-hander Kaleb Ort (2-1) earning the win. TIGERS 2, RANGERS 1 ARLINGTON, Texas (AP) — Matt Vierling hit a tiebreaking single with two outs in the eighth inning and Detroit snapped a season-worst six-game losing streak by beating Texas. Vierling's base hit up the middle off Chris Martin (1-6) scored Gleyber Torres after the Rangers finally got something going against Tigers ace Tarik Skubal in the seventh. Skubal, the reigning AL Cy Young Award winner and starter in last Tuesday's All-Star Game, was cruising with a two-hit shutout heading into the seventh. He left with runners at the corners and two outs, and Adolis García scored on a wild pitch by Tyler Holton (5-3). Will Vest entered in the eighth and got four straight outs for his 16th save. Skubal struck out 11 and walked none on 105 pitches in his seventh double-digit strikeout game this season. Zach McKinstry singled home Wenceel Pérez in the second for Detroit's first run.
Winnipeg Free Press
3 days ago
- Sport
- Winnipeg Free Press
Brewers sweep Dodgers, extend win streak to 10 games
LOS ANGELES (AP) — Abner Uribe retired Mookie Betts with the bases loaded for the final out, and the Milwaukee Brewers beat the Los Angeles Dodgers 6-5 on Sunday for their 10th straight victory. Shohei Ohtani hit a two-run homer for the Dodgers, but Isaac Collins snapped a sixth-inning tie with a two-run single as the Brewers finished 6-0 this season against the defending World Series champions. They extended their longest winning streak since 2021 by sweeping the NL West leaders for the second time in two weeks. Los Angeles has dropped 10 of 12 overall. Collins' two-out single to center field off reliever Lou Trivino (3-1) broke a 4-all tie and put Milwaukee ahead for good after a back-and-forth start. The Dodgers cut their deficit to a run in the ninth and loaded the bases with two outs, but Uribe got Betts to line out to center for his sixth major league save and second this year. Jose Quintana (7-3) allowed four runs over six innings for the win. Los Angeles starter Clayton Kershaw permitted five hits and three runs (two earned) in 4 1/3 innings. Ohtani launched his 34th homer of the season and Esteury Ruiz hit his first with the Dodgers. First baseman Freddie Freeman exited in the sixth after getting hit by a pitch on his left wrist. BLUE JAYS 8, GIANTS 6 TORONTO (AP) — Addison Barger hit a two-run home run, Vladimir Guerrero Jr. and George Springer added hit solo shots and Toronto beat San Francisco to complete a three-game sweep and match a franchise record with its 10th consecutive home win. Toronto also won 10 straight at home July 21-August 3, 1985. Toronto's current streak began with a four-game series sweep of the Yankees from June 30 to July 3, overtaking New York for the AL East lead. The Blue Jays followed that with a three-game sweep of the Los Angeles Angels. The Yankees and Blue Jays open a three-game series in Toronto on Monday. Since a three-game sweep of San Diego in late May, the Blue Jays have won 22 of 26 at home. Guerrero reached base three times and drove in two as Toronto improved to 12-3 in July. The series sweep was their eighth of the season. Toronto's José Berríos (6-4) allowed four runs and eight hits in 5 2/3 innings and won for the fourth time in six starts. Yariel Rodríguez finished for his second save in three chances. Ray (9-4) allowed five runs and five hits in 4 1/3 innings. The left-hander matched a season-high with five walks. PARDES 8, NATIONALS 1 WASHIGNTON (AP) — Xander Bogaerts hit a grand slam in the first inning, Elias Díaz also homered and San Diego routed Washington. Bogaerts hit the first pitch he saw from MacKenzie Gore (4-9) into the seats in left for his sixth homer of the season and eighth career grand slam. Jake Cronenworth had an RBI double to make it 5-0 before the Nationals batted. Padres starter Nick Pivetta (10-2) allowed one run in six innings while striking out five. Pivetta is 3-0 with a 0.57 ERA in his last five starts. The Padres improved to 54-45, winning two of the three in the weekend series and five of their last seven. Riley Adams homered in the fifth for Washington. The Nationals have lost 10 of 12 — going 2-7 under interim manager Miguel Cairo — to drop to 39-60. Díaz lined a two-run shot to left in the third to end Gore's outing. Gore tied his career high with eight runs allowed in a season-low 2 1/3 innings. San Diego center fielder Jackson Merrill was scratched due to illness about a half-hour before the game. GUARDIANS 8, ATHLETICS 2 CLEVELAND (AP) — David Fry had a career-high four RBIs, Gavin Williams struck out 11 and Cleveland defeated the Athletics to take the weekend series. Angel Martínez had three hits, including a home run to lead off the seventh inning, for the Guardians, who have won eight of 10 after a 10-game losing streak. Nick Kurtz had a pair of doubles for the Athletics, who have lost nine of their last 10 in Cleveland. Williams (6-4) tied a career high in going seven innings and got his first win since June 1. He is 2-1 in his last nine starts. The right-hander — who gave up one run and four hits — struck out five of the first six Athletics hitters he faced. It was his first double-digit strikeout game since Aug. 12, 2023, against Tampa Bay. Athletics starter Jeffrey Springs (8-7) had his two-game winning streak snapped after he allowed five runs and nine hits in four innings. WHITE SOX 7, PIRATES 2 PITTSBURGH (AP) — Miguel Vargas and Mike Tauchman hit back-to-back homers in a four-run first inning, and Chicago cruised to a victory over struggling Pittsburgh for its first series sweep this season. Vargas hit a three-run shot to open the scoring against Andrew Heaney, his 11th homer of the year but first since June 15. Tauchman followed by launching a drive that carried over the right-field stands and bounced into the Allegheny River. The White Sox became the last major league team to sweep a series this season as they sent the Pirates to their 11th loss in 12 games. Tauchman hit a two-run double in the fifth to chase Heaney and extend the lead to 7-1. Aaron Civale (2-6) got his first win in seven starts since being acquired from Milwaukee in a June 13 trade. He gave up one unearned run and three hits in six innings with six strikeouts. Vargas, Tauchman, Chase Meidroth and Michael A. Taylor each had two hits for the White Sox. Heaney (4-9) was tagged for seven runs and nine hits in four innings. The left-hander has lost six of seven decisions since May 26. YANKEES 4, BRAVES 2 ATLANTA (AP) — Aaron Judge hit his 36th home run of the season and tied Alex Rodriguez for sixth place in Yankees history as New York defeated Atlanta. Judge's solo homer in the first inning was his 351st with the Yankees, matching A-Rod and behind Babe Ruth (659), Mickey Mantle (536), Lou Gehrig (493), Joe DiMaggio (361) and Yogi Berra (358). Judge also scored from first on Jazz Chisholm Jr.'s double in the seventh and finished 1 for 4 with a walk and two runs scored. Marcus Strohman (2-1) worked six strong innings in his fourth start since returning from a knee injury. He gave up one run on five hits with four strikeouts and no walks in his longest outing of the season. Paul Goldschmidt was 1 for 3 with a walk, an RBI and a run scored, and Giancarlo Stanton was 3 for 5 with a run scored. Ronald Acuña Jr. hit a solo home run, his 13th, in the ninth off Devin Williams, who earned his 14th save for the Yankees. Matt Olson hit a 442-foot homer, his 18th, that hit the top of the Chop House in right field in the sixth inning for the Braves' other run. Atlanta's Grant Holmes (4-9) gave up three runs on seven hits in six innings. ROYALS 7, MARLINS 4 MIAMI (AP) — Kris Bubic pitched five shutout innings, Salvador Perez homered and doubled and Kansas City beat Miami to avoid a three-game sweep and end the Marlins' winning streak at four. Bubic (8-6) gave up three hits and a walk. Andrew Hoffmann came on in the ninth and gave up four runs — none earned — in two-thirds of an inning before Carlos Estévez got the final out for his 26th save. Perez hit his 15th homer of the season in the eighth. Kansas City took a 3-0 lead in the fourth, and made it 6-0 in the fifth. In the fourth, Bobby Witt Jr. scored on Maikel Garcia's sacrifice fly, Perez hit a ground-rule double and Jac Caglianone followed with a two-run double off starter Janson Junk (4-2). In the fifth, Jonathan India had a two-run double and Vinnie Pasquantino added an RBI sacrifice fly. Xavier Edwards and Agustín Ramírez each had two RBIs for Miami. METS 3, REDS 2 NEW YORK (AP) — Juan Soto dashed home with the go-ahead run in the eighth inning, beating a throw to the plate on Luis Torrens' sharp grounder to second base, and New York avoided a three-game sweep with a win over Cincinnati. Soto led off the inning by drawing a walk from Brent Suter (1-1) and went to third on Jeff McNeil's one-out double. With the infield playing in, Tony Santillan got Torrens to hit a hard grounder to second baseman Matt McLain, but Soto got an excellent jump and scored with a headfirst slide as the one-hop throw arrived. Ryne Stanek earned his second save with a scoreless ninth. Edwin Díaz (5-0) blew a save opportunity for the second time this season when he plunked Spencer Steer with a pitch to force home the tying run in the eighth. Díaz then struck out Tyler Stephenson to leave the bases loaded. Brandon Nimmo had an RBI single in the third and No. 9 hitter Luisangel Acuña gave the Mets a 2-1 lead with a run-scoring double in the fifth. RED SOX 6, CUBS 1 CHICAGO (AP) — Wilyer Abreu homered twice and drove in three runs, and Boston beat Chicago to avoid a series sweep. Alex Bregman also connected as Boston rallied after managing just one run in its first two games after the All-Star break. Garrett Crochet (11-4) pitched six effective innings in his fourth consecutive win. The Red Sox went ahead to stay when Trevor Story opened the seventh with a walk and Abreu hit a drive to right-center off Ryan Pressly (2-3) for his 19th homer. Bregman broke it open with a pinch-hit shot off Drew Pomeranz for a three-run homer in the eighth. Abreu tacked on a two-out solo drive against Ethan Roberts. It was Abreu's fourth multihomer game of the season and No. 5 for his career. He hit a total of 17 homers in his first two years in the majors. Boston improved to 12-3 in July. It had won 10 in a row going into the series. Chicago wasted a sharp performance by Cade Horton, who pitched 5 2/3 innings of two-hit ball. The Cubs had won five of six. Crochet allowed eight hits in his first start since July 12. The All-Star left-hander struck out five and walked two. Chicago scored its only run in the second. Pete Crow-Armstrong hit a leadoff double and Dansby Swanson followed with an infield single. After Crow-Armstrong was caught stealing third, Swanson raced home from second on Ian Happ's single to right. ANGELS 8, PHILLIES 2 PHILADELPHIA (AP) — Jose Soriano limited Philadelphia to two runs in seven innings, Taylor Ward had a three-run double and Los Angeles beat the Phillies for a series victory. Soriano (7-7) allowed six hits and struck out five. He was touched for a run in the second inning on an RBI single by Rafael Marchan, and the Phillies mustered little else until Otto Kemp's two-out home run in the sixth. The Angels scored five runs in the second against Ranger Suarez (7-4), who allowed six earned runs in 4 1/3 innings. Zach Neto singled in a run in the second, and Ward followed with his three-run double. LaMonte Wade Jr. homered in the sixth. He replaced Nolan Schanuel in the first after Schanuel was hit in the wrist by a pitch. TWINS 7, ROCKIES 1 DENVER (AP) — Royce Lewis hit two home runs — his first career multihomer game — and Joe Ryan struck out 11 in seven innings as Minnesota beat Colorado Rockies to prevent a three-game sweep. Coming off his first All-Star appearance, Ryan (10-4) gave up one run and five hits with no walks. The right-hander worked a scoreless fourth inning with two strikeouts in the All-Star Game last Tuesday night at Atlanta. Griffin Jax and Jhoan Duran each threw a scoreless inning of relief for the Twins. Matt Wallner hit a two-run homer off starter Germán Márquez (3-11) in the third and Harrison Bader added a solo shot for the Twins. ORIOLES 5, RAYS 2 TAMPA, Fla. (AP) — Jackson Holliday, Alex Jackson and Ryan O'Hearn homered to lead Baltimore to a rain-delayed win over Tampa Bay. The game at George M. Steinbrenner Field was delayed for 2 hours, 36 minutes before the seventh inning. Holliday hit his 13th homer of the season on the second pitch of the game from Tampa Bay's Ryan Pepiot (6-8). Jackson opened a three-run third with his first home run of the season, and O'Hearn's shot in the sixth was his 12th of the season. Gunnar Henderson capped Baltimore's outburst in the third inning with a two-run single. Trevor Rogers (3–1) allowed two runs on five hits over six innings while striking out three as the Orioles snapped a four-game skid. Closer Felix Bautista allowed his second run in his last 17 appearances in the ninth and got out of a bases-loaded jam by striking out Junior Caminero for his 19th save. Caminero had an RBI single in the third inning and Danny Jansen hit a solo homer, his 11th, in the fourth for the Rays. Ryan Pepiot (6–8) went six innings for Tampa Bay, giving up five runs on six hits. He struck out eight and walked one. DIAMONDBACKS 5, CARDINALS 3 PHOENIX (AP) — Eugenio Suárez homered twice for the second consecutive day and Merrill Kelly allowed two runs in six innings to help Arizona beat St. Louis. Suárez has six multihomer games this season — including a four-homer game on April 26 — and leads the majors with 20 home runs since June 1. He launched a three-run drive off starter Miles Mikolas (5-7) in the first inning and a solo shot in the third. The slugger leads the National League with 35 homers, one more than Dodgers superstar Shohei Ohtani, and his 85 RBIs are tops in the big leagues — two ahead of Seattle catcher Cal Raleigh. Yohel Pozo, Jordan Walker and Victor Scott II drew consecutive walks to load the bases for St. Louis with no outs in the fifth. Pozo scored on Brendan Donovan's groundout to make it 5-2, but Kelly (9-5) struck out Iván Herrera before Alec Burleson grounded out to end the threat. ASTROS 11, MARINERS 3 SEATTLE (AP) — Christian Walker hit a go-ahead solo homer in the sixth inning as Houston rallied from an early three-run deficit and beat Seattle to avoid a series sweep. Walker, who entered the game hitting .333 in July, hit his third homer of the month and 13th of the season to left field off Mariners All-Star Bryan Woo (8-5). Two batters later, Taylor Trammell added his second homer of the season to double the Astros' lead. Trammell added a two-run double in the seventh inning. The Astros were resilient after falling behind 3-0 after three innings. They tied the game in the fifth on a fielding error by J.P. Crawford and a two-run double by Cam Smith. Houston starter Hunter Brown allowed three runs on six hits with seven strikeouts in four innings. Four relievers worked five shutout innings with right-hander Kaleb Ort (2-1) earning the win. TIGERS 2, RANGERS 1 ARLINGTON, Texas (AP) — Matt Vierling hit a tiebreaking single with two outs in the eighth inning and Detroit snapped a season-worst six-game losing streak by beating Texas. Thursdays Keep up to date on sports with Mike McIntyre's weekly newsletter. Vierling's base hit up the middle off Chris Martin (1-6) scored Gleyber Torres after the Rangers finally got something going against Tigers ace Tarik Skubal in the seventh. Skubal, the reigning AL Cy Young Award winner and starter in last Tuesday's All-Star Game, was cruising with a two-hit shutout heading into the seventh. He left with runners at the corners and two outs, and Adolis García scored on a wild pitch by Tyler Holton (5-3). Will Vest entered in the eighth and got four straight outs for his 16th save. Skubal struck out 11 and walked none on 105 pitches in his seventh double-digit strikeout game this season. Zach McKinstry singled home Wenceel Pérez in the second for Detroit's first run.
Business Wire
25-06-2025
- Business
- Business Wire
Arizona Sonoran Buys-down 0.64% of the Cactus Project Royalties
CASA GRANDE, Ariz. & TORONTO--(BUSINESS WIRE)-- Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) ('ASCU' or the 'Company'), an emerging U.S. copper developer, is pleased to announce that its subsidiaries have exercised their rights to buy-down 0.64% of certain net smelter returns royalties on the Cactus Project (collectively, the 'NSRs'; see FIGURE 1, outlined in yellow), ahead of the applicable July 10, 2025 exercise notice expiry dates. Total cash payments of US$8.91 million will be made to RG Royalties LLC, a subsidiary of Royal Gold Inc. (RLGD:NASDAQ) and Elemental Altus Royalties Corp. (ELE:TSXV), to reduce the aggregate percentage of the NSRs from 3.18% to a remaining 2.54% (collectively, the 'Buy-downs'). The Buy-downs are expected to close on or about August 12 th, 2025. Our team remains focused on the critical workstreams needed to position the Cactus Project as a lower risk, top-tier copper development project and among the best-positioned in North America to deliver copper cathode production. The Buy-downs continue the Company's royalty reduction strategy as it continues to optimize Project economics in advance of the Pre-Feasibility Study ('PFS') scheduled for completion later this year. The remaining 2.54% NSR applies to the Cactus West and Cactus East deposits as well as a portion of the Parks/Salyer deposit, outlined in yellow in FIGURE 1. In early Q2 2025, the Company's subsidiary had two historic ASARCO royalties (Nolles/Wagoner; each 5%) vacated by final judicial order. Additionally, in January, ASCU bought down a royalty on the BCE Property, covering a small portion of the Parks/Salyer deposit, from 1.5% to 0.5% for a cash payment of US$500,000 (PR dated JAN 6, 2025), as outlined in blue in FIGURE 1. The southern portion of the Parks/Salyer deposit outlined in white in FIGURE 1, formerly referred to as the MainSpring Property, is not subject to any royalties and comprises the first four years of production in a conceptual mine plan as contemplated by the 2024 Preliminary Economic Assessment ('2024 PEA'; see PR dated AUG 4, 2024 | Technical Report). George Ogilvie, ASCU President, CEO and Director commented, 'Upon completion of these Buy-downs, the collective reduction of Cactus Project royalties in 2025 will be a strategic milestone for the Company, set to strengthen Project economics, optimize future cash flows and return copper price upside to our shareholders, as projected in the 2024 PEA. Having just completed the $51.75 million bought deal financing, we now have the necessary runway to advance Cactus, with confidence and clarity, through PFS) and then Definitive Feasibility Study to an eventual Final Investment Decision, potentially in Q4 2026. Our team remains focused on the critical workstreams needed to position the Cactus Project as a lower risk, top-tier copper development project and among the best-positioned in North America to deliver copper cathode production, with a projected industry-leading capital intensity.' The Company's subsidiaries, Cactus 110 LLC and Arizona Sonoran Copper Company USA, Inc., have provided notice of exercise of their rights to buy‑down (i) Royal Gold's 2.5% NSR to 2.0% for US$7.0 million and (ii) Elemental Altus' 0.68% NSR to 0.54% for US$1.91 million, that will result in an aggregate reduction in Cactus Project royalties of 0.64% for aggregate payments of US$8.91 million. These NSRs were initially purchased in 2021 by funds of Tembo Capital and Resource Capital Funds, which each subsequently sold its NSRs to Royal Gold (December 2024) and Elemental Altus (September 2023), respectively. The Buy-downs are expected to close on or about August 12, 2025, following which Royal Gold will hold a 2.0% NSR and Elemental Altus a 0.54% on the Cactus Project (as shown in FIGURE 1, outlined in yellow). About the Cactus Project The Project is a lower risk brownfield open pit copper project with onsite permitted water wells, substation and transmission lines, neighbouring nationwide railroad, nearby nationwide highway and an on-site office with a team of 20 engineers and geologists advancing Cactus to PFS, scheduled for completion later this year. The PFS will build off the heap leach and solvent extraction and electrowinning operation, producing LME Grade A copper cathodes, as contemplated in the 2024 PEA. The 2024 PEA projected a low capital intensity of under $10,000 per ton and an unlevered life of mine free cash flow of approximately $7.3 billion, from annual average production of 116,000 short tons of copper cathode over the first 20 years. The 2024 PEA projected an after-tax net present value (8%) of $2.03 billion and internal rate of return of 24%, at a $3.90/lb copper price, and an increase to $2.9 billion and 30%, respectively, at a copper price of $4.50/lb. ASCU has appointed Hannam & Partners as project financial debt advisor for project financing. Upon completion of the PFS, the Cactus Project team will immediately advance required amendments of applicable state permits and initiate the Definitive Feasibility Study for completion ahead of a potential Final Investment Decision, potentially by Q4 2026. Neither the TSX nor the regulating authority has approved or disproved the information contained in this press release. About Arizona Sonoran Copper Company ( | ASCU is a copper exploration and development company with a 100% interest in the brownfield Cactus Project. The Project, on privately held land, contains a large-scale porphyry copper resource and a recent 2024 PEA proposes a generational open pit copper mine with robust economic returns. Cactus is a lower risk copper developer benefitting from a State-led permitting process, in place infrastructure, highways and rail lines at its doorstep and onsite permitted water access. The Company's objective is to develop Cactus and become a mid-tier copper producer with low operating costs, that could generate robust returns and provide a long-term sustainable and responsible operation for the community, investors and all stakeholders. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise. Cautionary Statements regarding Forward-Looking Statements and Other Matters Forward-Looking Statements All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute 'forward-looking statements' and 'forward-looking information' (collectively, 'forward-looking statements') within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'advancing', 'ahead', 'anticipated', 'assumptions', 'become', 'believes', 'commitment', 'conceptual', 'confidence', 'contemplated', 'continues', 'could', 'delivery', 'developer', 'emerging', 'estimates', 'exploration', 'eventual', 'expectation', 'feasibility', 'focused', 'future', 'generational', 'later', 'long-term', 'milestone', 'objectives', 'optimize', 'options', 'plan', 'positioned', 'potentially', 'pre-', 'projected', 'proposes', 'rights', 'risk', 'runway', 'scheduled', 'set to', 'strategy', 'studies', 'subject to', 'upside', and 'will', or variations of such words, and similar such words, expressions or statements that certain actions, events or results can, could, may, should, would, will (or not) be achieved, occur, provide, result or support in the future, or which, by their nature, refer to future events. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect. Forward-looking statements include those relating to the completion (or close) of the Buy-downs (including the timing thereof and resulting reductions in either such NSR individually and/or in the aggregate) and the implications thereof (including impacts on the cash flows and other economics of the Cactus Project, and any upside for shareholders, related to such Buy-downs and/or any other prior royalty reductions or royalties vacated); the impacts of the Company's royalty reduction strategy (including on Project economics), and any related strategic milestone; the impacts of the recently completed bought deal equity financing (including that such financing provides the necessary runway to advance the Cactus Project (including all Project-‑related workstreams) through Pre-Feasibility Study (or PFS) and then Definitive Feasibility Study to an eventual Final Investment Decision, potentially in Q4 2026, and any related confidence and clarity; any eventual Final Investment Decision (including timing thereof); ongoing and future workstreams (including those related to the PFS, and any permit amendments and Definitive Feasibility Study thereafter, or otherwise) and implications thereof (including positioning of the Cactus Project as to associated risk or ranking within Arizona or otherwise, and to deliver copper cathode production, with a projected industry-leading capital intensity); the risk of the Cactus Project; ongoing and future technical studies (including the current ongoing Pre-feasibility Study (or PFS) and any eventual Definitive Feasibility Study), moving forward with such study work (including related or other workstreams) and the timing, results or implications thereof (including any eventual Final Investment Decision); the results of the 2024 PEA (including risk, capital intensity, cash flow, net present value, or returns (including internal rate of return) and other economics, mine plan and production, and proposal of a generational open pit copper mine); the PFS and the Cactus Project contemplated thereby; project financing; the Company's strategic and other objectives (including commitment to disciplined execution and long-term value creation for our shareholders, and the Cactus Project becoming a significant producer of copper cathodes in Arizona and the U.S.); and the future plans or prospects of the Company (including sustainability of the Cactus Project and becoming a mid-tier copper producer). Although the Company believes that such statements are reasonable, there can be no assurance that those forward-looking statements will prove to be correct, and any forward-looking statements by the Company are not guarantees of future actions, results or performance. Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. The assumptions, estimates, expectations and opinions referenced, contained or incorporated by reference in this press release which may prove to be incorrect include those set forth or referenced in this press release, as well as those stated in the Company's prior press releases referenced herein (collectively, the 'Referenced PRs'), the technical report for the Cactus Project filed on August 27, 2024 (the '2024 PEA Technical Report'), the Company's Annual Information Form dated March 27, 2025 (the 'AIF'), Management's Discussion and Analysis (together with the accompanying financial statements) for the year ended December 31, 2024 and the quarter already ended in 2025 (collectively, the '2024-25 Financial Disclosure') and the Company's other applicable public disclosure (collectively, 'Company Disclosure'), all available on the Company's website at and under its issuer profile at Forward-looking statements are inherently subject to known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies and other factors include, among others, the 'Risk Factors' in the AIF, and the risks, uncertainties, contingencies and other factors identified in the Referenced PRs, the 2024 PEA Technical Report and the 2024-25 Financial Disclosure. The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers should consult the more complete discussion of the Company's business, financial condition and prospects that is provided in the AIF, the 2024-25 Financial Disclosure and other Company Disclosure. Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this press release (or as otherwise expressly specified) and ASCU disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements referenced or contained in this press release are expressly qualified by these Cautionary Statements as well as the Cautionary Statements in the AIF, the Referenced PRs, the 2024 PEA Technical Report and the 2024-25 Financial Disclosure. Preliminary Economic Assessments The Preliminary Economic Assessment (or 2024 PEA) referenced in this press release and summarized in the 2024 PEA Technical Report is only a conceptual study of the potential viability of the Cactus Project and the economic and technical viability of the Cactus Project has not been demonstrated. The 2024 PEA is preliminary in nature and provides only an initial, high-level review of the Cactus Project's potential and design options; there is no certainty that the 2024 PEA will be realized. For further detail on the Cactus Project and the 2024 PEA, including applicable technical notes and cautionary statements, please refer to the Company's press release dated August 7, 2024 and the 2024 PEA Technical Report, both available on the Company's website at and under its issuer profile at
