Carvana Co shares climbed 13% to $8.95 on Wednesday after the e-commerce platform for buying and selling used cars said it expects a first quarter loss of between $50 million and $100 million, compared with a loss of $348 million during the same period last year, even as the company experiences significantly lower sales.
Carvana also revealed plans to restructure some of its $9 billion debt load, offering noteholders the option to exchange their unsecured notes at a premium to current trading prices in exchange for new secured notes.
GameStop shares are up nearly 40% Wednesday after the video game retailer posted its first quarterly profit in two years, and its success brought other former meme stocks along for the ride.
At least for a minute, anyway.
To watch Major League Baseball (MLB) games on AppleTV+ this season will require a subscription to the service, Apple announced on Wednesday.
This is unlike last season when Apple made its weekly doubleheader Friday Night Baseball available for free to anyone with an Apple ID and access to the Apple TV+ app.
Southern Silver Exploration Corp (TSX-V:SSV, OTCQX:SSVFF) announced that Kirkham Geosystems Ltd has completed an update of its independent mineral resource estimate (MRE) on the Cerro Las Minitas project in Mexico.
The updated MRE, which incorporates results from 26 additional drill holes totaling 11,801.5 meters, significantly expands sulphide resources in the La Bocona deposit through the incorporation of the North Felsite zone into the resource model, the company said.
Parkland Corporation shares are higher Wednesday after an activist investor called for the company to sell off its Burnaby, British Columbia refinery.
Engine Capital LP wants the company to explore strategic alternatives for the company's “non-core assets” and focus on its fuel and convenience store business, according to a letter written to the company’s board of directors.
Nike Inc (NYSE:NKE) shares edged lower while the broader market was largely flat ahead of the Federal Reserve’s March interest rate decision despite the athletic apparel company’s latest results topping expectations.
After the market closed on Tuesday, the company posted diluted earnings per share of $0.79 on revenue of $12.39 billion, surpassing Wall Street forecasts of diluted earnings per share of $0.55 on revenue of $11.48 billion.
Analysts at Canaccord Genuity (TSX:CF, LSE:CF) and Stifel GMP have both repeated their ‘Buy’ rating for WELL Health Technologies after the digital health company posted stronger-than-anticipated fourth quarter results and upped its 2023 outlook.
WELL Health Technologies shares surged 8% on Tuesday after the company posted 4Q revenue of $156.5 million and gross adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $27.2 million.
Amati Global Investors said it has selected Digbee, an environmental, social and governance (ESG) disclosure platform dedicated to the mining sector, as the preferred ESG accreditation solution for its £90mln TB Amati Strategic Metals Fund.
Launched two years ago last week, the fund offers investors exposure to precious metals and those metals being used in global cleantech and other decarbonisation technologies.
"Alphabet Inc (NASDAQ:GOOG) is a great company with a lot of potential. It has a strong track record of innovation and growth, and it is well-positioned to continue to grow in the years to come. However, it is also a very expensive stock, and there is some risk that its growth could slow down in the future," says Bard, the new chatbot that is being unveiled by Alphabet.
Asked to write a critical analysis of Alphabet in the style of an investment columnist this is how Bard, a large language model or conversational AI chatbot, continued.
NEO Battery Materials Ltd, a low-cost silicon anode materials developer that enables rapid-charging lithium-ion batteries, said that it is advancing the construction process for its South Korean commercial plant.
The Vancouver-based company focused on electric vehicle (EV) lithium-ion battery materials also talked about material evaluation of further-enhanced silicon anodes, and strategic investments with US venture capital funds.
Los Andes Copper Ltd (TSX-V:LA) is undervalued following the release of a preliminary feasibility study for its Vizcachitas copper project in Chile, according to analysts at Stonegate Capital Partners.
The PFS showed ”‘very promising results,” setting the proven and probable reserves at 10.9 billion pounds of copper equivalent, increasing the amount of measured and indicated resources by 16% to 14.8 billion pounds and more than doubling the inferred resources to 15.4 billion pounds.
Amazon has launched its own TVs in the UK for the first time.
The eCommerce giant began building its own sets in 2021 but they were initially only available to customers in the United States.
TikTok’s CEO Shou Zi Chew plans to tell American lawmakers that the company is committed to user safety, data security, and keeping the platform free from Chinese government influence amid a push to ban the popular social media app in the United States.
Chew is set to answer questions about TikTok’s effects on its young user base and possible national security risks when he appears before the US House Committee on Energy and Commerce on Thursday.
Lobe Sciences Ltd (CSE:LOBE, OTCQB:LOBED) announced that its exclusive commercial manufacturing partner has received an initial 2023 quota for the company’s novel psilocin drug product (L-130) from the Drug Enforcement Administration (DEA).
"This is the final step of the DEA process which is required for the commercial production of Schedule 1 compounds for export for the conduct of human clinical trials,” CEO Philip Young said in a statement. “We are now in position to initiate two clinical studies within the next several months.”
Fidelity Minerals Corp has agreed to increase its ownership of Greensands Australia Pty Ltd to 75% from 50%.
Fidelity initially announced its purchase of 50% of the company in February. The other 25% is being acquired by Lions Bay Capital Inc, which is the largest shareholder of Fidelity.
Swiss authorities have limited bonus payments for Credit Suisse employees, penalizing bankers whose awards have already been hard hit by the bank’s recent share price dive.
The Swiss government said in a statement on Tuesday that it is “temporarily suspending” remuneration that has already been granted in the years up to 2022 but deferred, such as share awards.
Ultra Lithium Inc has announced assays for the first batch of channel sampling completed during fourth-quarter exploration work at its Forgan Lake Lithium Property in Ontario.
The channel sampling was completed at the Number 1 Pegmatite and other pegmatites on the property. The first two channels cut 10 meters of lithium pegmatites each with 1.81% and 1.29% lithium oxide, respectively. Anomalous values of other rare metals, including beryllium, cesium, niobium, rubidium and tantalum were also returned.
Golden Shield Resources (CSE:GSRI, OTCQB:GSRFF) Inc announced that it has entered into an agreement with Canaccord Genuity (TSX:CF, LSE:CF) Corp, in which Canaccord will act as an agent for the company to execute a private placement on a 'best efforts' basis to raise gross proceeds of up to C$3.5 million, through the issuance of up to 20 million Golden Shield Resources (CSE:GSRI, OTCQB:GSRFF) units at a price of C$0.175 per unit.
The gold exploration company said net proceeds from the offering will be used for exploration of its flagship Marudi property, including diamond drilling, aircore drilling, trenching, pitting, hand augering, mapping and sampling, and for general working capital.
Rakovina Therapeutics Inc (TSX-V:RKV) revealed that it is receiving advisory services and up to $122,865 in non-dilutive research and development funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).
The Vancouver, British Columbia-based company said the funding will support Rakovina’s scientists in the development of assays and animal models for evaluation of the company’s novel classes of DNA-damage response inhibitors with the goal of selecting one or more lead compounds for advancement to toxicology and/or Investigational New Drug (IND) enabling studies.
Casa Minerals Inc (TSX-V:CASA, OTC:CASXF) said it plans to drill nearly 5,000 metres this year at its Congress gold mine project in a bid to confirm the historic resource on the Arizona property.
The company told shareholders it will drill 20 holes averaging around 250 metres per hole.
BANXA Holdings Inc has struck a strategic partnership with BitMart, the premium global digital asset exchange, to unlock fiat-to-crypto on-and-off-ramping.
The collaboration will also advance cryptocurrency adoption in the Asia-Pacific (APAC) and Latin America (LATAM) regions, Banxa noted.
Givex Corp (TSX:GIVX, OTCQX:GIVXF) posted its financial results for the three-month period and fiscal year ending December 31, showing both revenue growth and a narrowed quarterly loss.
Quarterly revenue increased 40% year-over-year to $21.3 million from $15.2 million, and adjusted EBITDA improved 25% to $3 million from $2.4 million.
Vivakor Inc (NASDAQ:VIVK) has revealed its new-look board of directors.
In a statement, the company’s CEO James Ballengee told investors that the new directors bring “a wealth of experience and knowledge” across the clean technology and financial sectors.
Manchester United is preparing to receive multiple bids to buy the football club by tonight’s 9pm deadline.
The American Glazer family, who purchased United in 2005 for £790mln, want around £6bln for the club, which would be a new record for a sports club after the Denver Broncos were sold for £3.75bln last summer.
Fathom Nickel (CSE:FNI) Inc revealed that it has strategically acquired the Watts Lake mineral claims in Saskatchewan following an agreement with SKRR Exploration Inc in a cash and share deal.
The Calgary, Alberta-based exploration company, said Watts Lake consists of 24 mineral claims totalling 13,708 hectares that are entirely contiguous with Fathom's Gochager Lake nickel property.
Logiq Inc. (NEO:LGIQ.AQN, OTCQX:LGIQ) has highlighted its progress with a number of major corporate initiatives in a shareholder update.
“We have been preparing to report our 2022 results along with a detailed corporate update,” said Logiq CEO, Brent Suen in the update. “However, given the disclosure of a number of positive events over the past week, including the Form 4 filing of my large purchase of shares, we would like to take this opportunity to address some of the investor questions we’ve been receiving lately."
Aurion Resources Ltd (TSX-V:AU) said it has entered into a letter agreement with Red Cloud Securities Inc to act as lead agent and sole bookrunner on behalf of a syndicate of agents in connection with a fully marketed, private placement for the sale of up to 9,090,909 common shares of the company at a price of C$0.55 each for gross proceeds of up to C$5 million.
The company also said it has granted to the agents an option, exercisable in full or in part up to 48 hours prior to the closing of the offering, to sell up to an additional 1,818,181 offered shares at the offering price for additional gross proceeds of up to C$1 million.
Vicinity Motor Corp. (TSX-V:VMC) said it has received commitments for a non-brokered private placement of unsecured convertible debentures for gross proceeds of C$3.6 million.
"This private placement - supported by strategic investors with a lead order from Focus Asset Management - will accelerate production and deliveries, allowing us to monetize our US$150 million order backlog sooner," said William Trainer, founder and chief executive officer of Vicinity Motor in a statement.
Willow Biosciences Inc (TSX:WLLW, OTCQB:CANSF) has reported results showing record revenue in 4Q and full-year ended December 31, 2022, and, separately, said it and SUANFARMA have completed the development and manufacturing process in pilot scale for Willow's ingredient, Cannabigerol (CBG).
For the year ended December 31, 2022, Willow reported full-year revenue of $821,000 and $510,000 for the fourth quarter, marking the highest level of revenue for any quarterly or fiscal year in its history.
Gold Basin Resources Corporation (TSX-V:GXX) has announced preliminary results from the Phase 2 resource definition reverse-circulation (RC) drill program at the company's 100%-owned Gold Basin oxide gold project in north-western Arizona, which show multiple at- or near-surface oxide gold intercepts at the Red Cloud target over 40 metres (m) in thickness with grades exceeding 1 grams per ton (g/t) gold (Au).
In a statement, Colin Smith, CEO of Gold Basin commented: “Preliminary assays from Gold Basin’s first drill program at Red Cloud represent some of the best oxide gold results to date for the Company at the Project and are comparable with the Stealth Deposit drill intervals. The geology, grade, thickness, and shallow nature of the gold endowment suggest a potentially analogous and contiguous system to the high-grade Stealth Deposit, located 650 m along strike to the northwest.
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) has provided an update on the drilling activity at Rio Cravo Este (RCE) on the Tapir Block in the Llanos Basin of Colombia.
In a statement, Marshall Abbott, CEO of Arrow commented: "We are very encouraged by the initial production of RCE-4, the fifth well on the Tapir block, which has been completed in the C7-A and C7 Stringer zones with additional zones currently behind pipe. The RCE-4 well costs came in under budget and it was the quickest well drilled to date on the block."
Power Nickel Inc (TSX-V:PNPN) said it has received commitments to over-subscribe its previously announced private placement of up to 10 million flow-through (FT) units at a price of $0.50 each for aggregate gross proceeds of up to C$5 million.
"Despite Challenging market conditions our offering was extremely well received and we are pleased to advise that we will over-subscribe the financing. Nisk has been such a great project to work on and our advances at Nisk are recognized by the investment community. We would like to thank both old and new shareholders for their support,” commented Power Nickel CEO Terry Lynch in a statement.
ARway Corporation (CSE:ARWY, OTC:ARWYF) is building infrastructure to help people find their way in the real-world Metaverse.
It might sound like an oxymoron, but it isn’t. The company has developed a no-code spatial computing platform, headlined by augmented reality (AR) enhanced indoor navigation and wayfinding solutions that deliver step-by-step directions to users.
Falcon Oil & Gas Ltd (AIM:FOG, TSX-V:FO) shares rose on Wednesday morning following news of the successful completion of a 25-stage stimulation programme at the Amungee NW-2H (A2H) well in the Beetaloo Sub-Basin, Northern Territory, Australia.
The company said the A2H well was drilled to a total depth of 3,883 metres (m), including a 1,275m horizontal section within the Amungee Member B Shale (formerly known as the Middle Velkerri B-shale) by Falcon Oil & Gas Australia Limited’s joint venture partner, Tamboran (B1) Pty Limited in December 2022, with stimulation commencing in February 2023.
Euro Manganese Inc (ASX:EMN, TSX-V:EMN, OTCQX:EUMNF) has welcomed the European Commission’s proposed Critical Raw Materials Act (CRMA) published on March 16, 2023, which outlines how the European Union (EU) intends to ensure a secure and sustainable supply of critical raw materials that are essential in supporting the energy transition.
The company supports this proposed legislation and believes its Chvaletice Manganese Project in the Czech Republic is likely to benefit from it.
Corazon Mining Ltd (ASX:CZN) has identified three initial priority drill targets at its Miriam nickel sulphide and lithium project in the Eastern Goldfields region of Western Australia.
The targets identified to date are interpreted as three large ultramafic lava paleo-channels or paleo-depressions that may be favourable traps for nickel sulphide accumulation.
Phoenix Gold Fund Ltd of Kuala Lumpur, Malaysia, revealed that it has acquired an aggregate of three million common shares and three million share purchase warrants of Cabral Gold Inc under a non-brokered private placement. Phoenix Gold acquired the common shares at a price of 10 cents per share for a total purchase price of $300,000. Immediately prior to the acquisition, Phoenix Gold owned 13,605,286 common shares of the issuer, representing 8.97% of the issued and outstanding shares of the issuer. In addition, Phoenix Gold owned 2,047,890 share purchase warrants. If Phoenix Gold exercised all of its warrants, it would then have owned 15,653,176 common shares of the issuer, representing 10.18% of the issued and outstanding shares of the issuer on a partially diluted basis, assuming no further common shares of the issuer have been issued. As a result of the acquisition, Phoenix Gold now owns 16,605,286 common shares of the issuer, representing 8.91% of the issued and outstanding shares of the issuer on an undiluted basis. In addition, Phoenix Gold owns 5,047,890 share purchase warrants. If Phoenix Gold exercises all of its warrants, it would own 21,653,176 common shares of the issuer, representing 11.32% of the issued and outstanding shares of the issuer on a partially diluted basis, assuming no further common shares of the issuer have been issued. Phoenix Gold said it acquired the securities for investment purposes and has no present intention to dispose of securities of the issuer.
Tiziana Life Sciences Ltd said it has been notified that Gabriele Cerrone, its chairman and acting chief executive officer, purchased 8,000 common shares in the company at $0.89 per share, bringing his total holding to 38,701,237 common shares.
Plurilock Security Inc said that, through its wholly-owned subsidiary, Integra Networks Corporation, it has been approved for an increase to its existing C$1.5 million revolving line of credit dated July 29, 2022, from Pathward, National Association, a division of MetaBank NA for up to C$2.0 million, effective March 8 , 2023. “We are pleased to continue working alongside Pathward, National Association, by securing additional working capital to grow our organization,” said Ian L. Paterson, CEO of Plurilock. “We are seeing increased demand for cybersecurity products at Plurilock and the additional flexibility will assist us in accelerating our sales.” The proceeds of the loan will be used by Integra for working capital purposes. The loan is secured against all current and future assets of the company and Integra.
Numinus Wellness Inc has announced that it will participate in the Sequire Cannabis & Psychedelics Conference to be held virtually on Wednesday, April 5, 2023. Payton Nyquvest, founder and CEO of Numinus, will present at 10.00am ET / 7.00am. PT. To attend, interested parties can register via the following link: https://cannabis.sequireevents.com/. For more information about the conference, or to schedule a one-on-one meeting with Numinus' management, interested parties can email: invest@numinus.com.
BetterLife Pharma Inc announced that in its March 17, 2023 issue, Medical Xpress has published an article titled “Study hints at the promise of non-hallucinogenic LSD for treating mood disorders,” which is based on BetterLife’s lead candidate BETR-001 (2-bromo-LSD). The company said the Medical Xpress article describes and adds further comments to the positive data and extensive pharmacological characterization of BETR-001 performed by BetterLife in collaboration with several leading scientists in this field. “As highlighted in this article, BetterLife’s proprietary BETR-001 (patent pending) has significant therapeutic potential in neuro-psychiatric disorders. Importantly, BETR-001 has an improved safety profile compared with LSD,” BetterLife Pharma CEO Ahmad Doroudian said in a statement. “BETR-001 human clinical trials are projected to start following the completion of the IND-enabling studies,” he added.
G2 Energy Corp announced that it has closed the first tranche of a non-brokered private placement by issuing 25,836,000 company units, at a price of $0.02 per unit, for gross proceeds of $516,736.00. The company also said it issued 2,340,000 G2 Energy shares, at a deemed price of $0.05, to settle $117,000.00 in debt. Proceeds from the offering are intended to be used in connection with further settlement of debt including debenture holder Cloudbreak Discovery PLC and working capital purposes. Each unit consists of one company common share plus one common share purchase warrant, with each warrant entitling the holder to purchase one additional G2 Energy share for a period of 36 months from closing at an exercise price of $0.05 per share. As a subscriber to the private placement, Slawomir Smulewicz, a director and officer of G2, acquired indirectly, through Blue Amber Enterprise Ltd. 7,820,000 units. The securities issued pursuant to the first tranche of the private placement are subject to a statutory hold period of four months plus one day that expires on July 22, 2023.
Banxa Holdings Inc, a provider of on-and-off ramp solution for Web3, has provided an update on the progress of the ongoing audit process for its annual financial statements for the fiscal year ended June 30, 2022. The company has confirmation from RSM Canada that the process will be finalized by April 5, 2023 ET. The interim financial statements for its 1Q ended September 2022 and 2Q ended December 2022 for the fiscal year ending 2023 will be lodged shortly thereafter, said Banxa. Following the completion of the audit and the submission of the outstanding annual and interim financial statements, Banxa said it will apply to the British Columbia Securities Commission for a revocation of the failure-to-file cease trade order that has been in effect since November 3, 2022. Once the revocation order is granted, Banxa will contact the TSX Venture Exchange regarding the resumption of trading. Banxa said its day-to-day business operations have not been affected and it is advancing its product development and execution of key partnerships, which are having “a positive financial flow-on effect.” Banxa said it has no exposure to Silicon Valley Bank and Signature Bank, and only had a USD$110,000 exposure for operational reasons with Silvergate Bank that closed its operations last week. Banxa noted that it expects to receive 100% of its monies as it is fully insured by the FDIC.
Argentina Lithium & Energy Corp said it has engaged Michael Baybak and Company Inc to assist with marketing services, primarily writing services and potential services that constitute “investor relations activities.” The company said it will pay the consultant a monthly fee of US$7,000 from January 1, 2023, through to June 30, 2023. Argentina Lithium also granted 50,000 stock options to the consultant’s president to purchase 50,000 shares at an exercise price of $0.35 per share for a period of five years, expiring on December 8, 2027.