Toronto-Dominion Bank surpassed Royal Bank of Canada (TSX:RY) as the country’s top brand, according to Brand Finance PLC’s annual report on the most valuable and strongest Canadian brands.
TD’s brand value surged a whopping 27% to $27.5 billion, driven by a positive re-evaluation of its revenues and forecasts, while RBC saw its brand value fall 15% to $19.9 billion due to a dampened outlook and forecasted revenues.
Bed Bath & Beyond has warned it will likely go bankrupt if its last-ditch $300 million equity offering announced on Thursday fails.
"We expect that we will likely file for bankruptcy protection if we do not receive the proceeds from the offering of securities covered by this prospectus supplement,” the company said.
The Thursday indictment of Donald Trump has been good news for certain stocks connected to the former president.
Digital World Acquisition Corp, the special-purpose acquisition company merging with Trump Media to take it public, saw its shares rise more than 10% to $14.38. That company includes Truth Social, which Trump has used as his primary social network since his ban from Twitter.
Tesla has issued a voluntary recall of Semis manufactured with certain parking brake valve modules found to be defective just three months after the electric vehicle (EV) maker began deliveries of the highly anticipated, all-electric trucks.
Per filings with the National Highway Traffic Safety Administration, certain Tesla Semi trucks are equipped with a supplier-provided electronically controlled parking brake valve module that may intermittently fail to transition when the parking brake is engaged or disengaged, which could then result in the parking brakes not being set or released.
The number of global initial public offerings (IPOs) fell 8% with proceeds down 61% year-over-year in the first quarter of 2023, according to a new report by EY.
A total of 229 IPOs raised $US21.5 billion in the first quarter of the year.
Aurora Cannabis Inc (TSX:ACB, NASDAQ:ACB) shares jumped after it revealed that it had repurchased C$46.6 million (US$34.3 million) of its convertible senior notes at a total cost including accrued interest of $45.6 million (US$33.6 million) in cash, saving $2.6 million in annualized interest payments.
The Edmonton, Alberta-based cannabis company said that after the repurchase, it will have $103 million (US$76 million) of notes outstanding.
Benchmark oil prices are expected to continue rising this year, topping the $100 a barrel threshold, after clawing back much of the ground lost following the selloff sparked by fears over the banking sector, according to oil executives and analysts.
US crude extended its volatile run this week, logging its sharpest price gain in nearly six months. Oil prices rose more than 1% on Thursday, supported by lower US crude stockpiles and a halt to exports from Iraq's Kurdistan region.
Talon Metals Corp. (TSX:TLO), the majority owner and operator of the Tamarack Nickel project in central Minnesota, hailed the Biden Administration’s expected electric vehicle (EV) tax credit guidance on the battery component and critical mineral sourcing requirements of the Inflation Reduction Act.
The Inflation Reduction Act includes a provision that limits the $7,500 EV tax credit to vehicles that are assembled in North America. Beyond that, a certain percentage of each car’s battery components need to be built in North America, and critical minerals like nickel, lithium, copper, or phosphate need to be sourced from the US or a US free trade country, with these percentages increasing every year.
Shanta Gold’s first pour at the new Singida mine in Tanzania is a major milestone for the group, says house broker Liberum
“Site construction there started just over two years ago; delivered on time and on budget and avoiding the worst of the global inflation shock,” it added.
Citi has provided its reaction to the reported restructuring of Shell PLC (LSE:SHEL, NYSE:SHEL)’s energy transition business.
“The move looks like further confirmation of our view that European oil companies are moving away from renewables and focusing instead on industrial decarbonisation, a shift that we have termed Transition 2.0,” a note from American bank read.
Rogers Communications (NYSE:RCI) Inc has received the go-ahead from the Canadian government to acquire competitor Shaw Communications (TSX:SJR.B) Inc in a move that would create the second-largest telecommunications company in the country.
Approval of the $20 billion deal was announced by Industry Minister François-Philippe Champagne Friday morning in Ottawa, albeit with conditions.
Deutsche Bank has initiated coverage of Keywords Studios PLC (AIM:KWS, OTC:KYYWF), a technical and creative services provider to the global video games industry, with a hold rating and 2,700p price target.
George Brown at Deutsche Bank suggested that while the current downturn in video games may shrink the pool of projects that Keywords draws from in the near term, the impact in 2023 should be limited.
Barrick Gold Corporation’s subsidiary Barrick Niugini Limited, New Porgera Limited and the government of Papua New Guinea (PNG) have signed an agreement to resume operations at the Porgera gold mine, which were suspended in 2020.
Through the agreement, inked on Thursday, the parties committed to reopening the mine at the earliest opportunity, starting with filing for a special mining lease.
Steppe Gold Ltd (TSX:STGO, OTCQX:STPGF) told investors that its focus for 2023 will be to maximize oxide production from the substantial inventories on hand and aggressively move forward with the Phase 2 Expansion at its ATO mine in Mongolia.
Announcing its 2022 financial results, the Mongola-focused gold miner said discussions are advancing on financing for the expansion in parallel with plans to pursue a dual listing of its common shares on the Main Board of the Stock Exchange of Hong Kong Limited.
Recruiter.com Group Inc has announced its fourth quarter and full-year financial results, revealing growing revenue and a narrowing per-share loss in 2022.
Revenue for the year totaled $25.4 million, up 14% from $22.2 million in 2021. Net loss narrowed 36% to $1.22 per share from $1.90 a year earlier.
Harbor Custom Development Inc’s CEO Sterling Griffin said the company remains confident in its diversified portfolio and long-term success after navigating real estate market challenges during 2022.
“As we near completion of construction and continue to make progress with the rent up of our first wave of multi-family projects, we believe 2023 will be a new chapter for Harbor Custom Development,” Griffin said in a statement accompanying the company’s fourth quarter and full year 2022 financial results.
Blackberry (TSX:BB) shares spiked higher at the open on Friday after the Canadian software firm posted its fourth quarter and fiscal 2023 financial results.
After initially falling post-results in after-hours trading, Blackberry (TSX:BB) stock added 8.5% at US$4.35 just after the opening bell.
Globex Mining Enterprises Inc informed shareholders that Orford Mining (TSX-V:ORM) Corporation has reported drilling a possible new gold bearing horizon 150 meters (m) to the north of the South Gold Zone on the Joutel Eagle Property in Quebec.
Globex said hole 23-JE-007 intersected 1.3 grams per tonne (g/t) gold over 16.1m from 201m metres, including higher grade intervals of up to 4.5 g/t gold over 1.1m, in a previously untested area of the Joutel Eagle Property.
CD Projekt reported solid fourth-quarter results, demonstrating the power of the group's owned IPs and their transferability across entertainment media, analysts at Jefferies said as they confirmed their ‘Buy’ rating and 156 zloty price target for the company.
The Polish game developer currently trades at around 114 zloty.
Boeing Co plans to increase the rate production of its 737 MAX above its current output of 31 jets per month “very soon,” the company announced Thursday.
The airplane producer plans to increase monthly MAX production to 50 planes per month by the end of 2026, while ramping 787 production to 10 aircraft per month during the same period.
The US Federal Reserve’s preferred measure of inflation, the personal consumption expenditures (PCE) price index, rose less than expected last month, fueling hopes that the central bank’s aggressive rate hikes over recent months have helped ease price pressures.
The headline PCE price index rose 0.3% during February, below the expected 0.4%. For the 12 months to February, it rose 5%, below the 5.2% estimate.
A bill introduced by a bipartisan group of US Senators Thursday would take a bite out of Google and Facebook’s online advertising dominance.
The bill would prohibit large digital advertising companies from owning more than one part of the stack of services that connect advertisers with companies with space for advertisements.
PyroGenesis Canada Inc. (TSX:PYR, NASDAQ:PYR) has announced its results for the fourth quarter and fiscal year ended December 31, 2022, with the company’s CEO noting that the policy landscape for industrial decarbonisation continues to evolve in ways that will benefit the company.
“Forward leaning social sentiment has long been the major input driving public and corporate policy on matters like energy transition. Now, with political, structural, and economic forces quickly catching up, PyroGenesis sees itself in a privileged position of being asked not only to supply merchandise, but also directly help customers uncover new avenues for change and transition,” CEO P Peter Pascali said in a statement.
Jushi Holdings Inc (CSE:JUSH, OTCQX:JUSHF) has reported strong growth in fourth-quarter and full-year 2022 revenue despite what it described as a challenging backdrop for the industry.
The vertically integrated, multi-state cannabis operator said revenue increased by 17% to $76.8 million in the three months to December 31, 2022, taking full-year revenue 36% higher to $284.3 million.
Tiziana Life Sciences Ltd (NASDAQ:TLSA) has announced that positive data from a study of intranasal anti-CD3 monoclonal antibody (mAb) in an animal model of Alzheimer’s disease will be presented at an international conference this weekend.
It said Dr Howard Weiner, who is chairman of Tiziana’s Scientific Advisory Board, will present the data on April 1, 2023, at the AD/PD 2023 International Conference on Alzheimer’s and Parkinson’s Diseases and Related Neurological Disorders in Gothenburg, Sweden.
Amaroq Minerals Ltd (TSX-V:AMRQ, AIM:AMRQ) told investors it is planning an even more aggressive program this year following a successful 2022 during which it completed its most active exploration program to date.
Announcing results for the year to December 31, 2022, Amaroq CEO Eldur Olafsson commented: "2022 was a transformational year for Amaroq in terms of the repositioning of our business. We continue to carry out impactful surface sampling and geophysical studies, uncovering additional significant targets. Following our recent financing announcement, we now have the funding in place to bring Nalunaq onstream, and I look forward to providing updates as we progress with our development plans."
Huawei Technologies Co’s significant profit declines in 2022 have laid bare the immense weight of sanctions being felt on the Chinese multinational.
Having been cut off from the US semiconductor market, Google’s Android operating system and the UK 5G network in recent years, Huawei posed its biggest-ever operating profit decline of -65%, from 121bn yuan (US$17.6bn) in 2021 to 42bln yuan in 2022.
Nano One Materials Corp (TSX:NANO, OTC:NNOMF) said it finished the fourth quarter ended December 31, 2022, with working capital of $40.6 million and cash of $39.5 million.
A highlight during the financial year was the successful completion of its acquisition of Johnson Matthey Battery Materials Ltd’s 80,000 square-foot Candiac production facility in Montreal, the only existing North American lithium iron phosphate (LFP) production facility, the company said.
Generation Hemp Inc (OTCQB:GENH) said it has changed its formal name to Evergreen Sustainable Enterprises Inc and has been granted a new ticker symbol of EGSE as of the beginning of trading today, March 31, 2023.
With the company's strategic direction into sustainable projects, including sustainable energy assets starting with bitcoin mining utilizing hydroelectric power, and its continued operations in the sustainable hemp industry, the new name reflects the company's combined vision and mission.
First Republic executives are facing a regulatory probe in Massachusetts over their selling of shares in the run up to its recent struggles.
The state’s secretary of the commonwealth, William Galvin said First Republic had been ordered to court, as his office seeks details of its insider trading policies.
Here’s an interesting statistic: Bitcoin (BTC) has not seen two straight days of negative returns since 10 March, the day the financial markets went into a post-SVB meltdown and investors rushed to their respective safe havens.
It speaks to the resilience of the benchmark cryptocurrency in recent weeks, in the face of banking collapses and intense regulatory crackdowns on fiat-to-crypto on-ramps.
Twitter Inc (NYSE:TWTR) will exempt thousands of advertisers from monthly verification charges, as it looks to shore up revenues, hit since Elon Musk’s US$44bn October takeover.
Its largest advertisers will be let off a US$1,000 monthly verification charge, according to a document seen by the New York Times, including the 500 biggest names and 10,000 of the most-followed organisations which already boast a blue tick.
Apple Inc (NASDAQ:AAPL) has won an appeal after a US court upheld a patent tribunal’s ruling against VirnetX (NYSE-A:VHC).
The US Court of Appeals for the Federal Circuit affirmed a decision that invalidated two patents VirnetX (NYSE-A:VHC), a patent licensing company, had accused Apple of infringing.
Shares in Jersey Oil and Gas PLC (AIM:JOG, OTC:JYOGF) jumped 17% in early deals after the company revealed it was close to inking a farm-out deal with a “well-funded industry heavyweight”.
There was no guide to the identity of JOG’s potential new partner in the Greater Buchan Area (GBA), offshore northern Scotland.
Cloudbreak Discovery PLC (LSE:CDL, OTC:CDBDF) has reported results for the six months ended 31 December 2022, a period which saw the company refocus into energy royalty acquisitions, with its mineral activities transferred to wholly-owned subsidiary, Cloudbreak Exploration Inc.
In the results statement, Kyler Hardy, CEO and president of Cloudbreak Discovery, commented: “It has been a transformational period for the company. November’s corporate update saw the announcement of an exciting restructuring plan that will separate out the energy and mineral facets of the company into distinct areas that Cloudbreak can direct its capital and expertise into.
Chill Brands Group PLC (LSE:CHLL, OTCQB:CHBRF) said it has received an initial purchase order for its disposable nicotine-free vapour products.
The order has been placed from a new distributor operating in Florida and the surrounding areas and represents a "significant portion" of its existing vapour inventory.
Pantheon Resources PLC (AIM:PANR, OTC:PTHRF) chief executive Jay Cheatham described a period “of great achievement” as the Alaska oil explorer reported its interim results for the six months ended 31 December 2022.
It comes after the company confirmed the Alkaid discovery, with the completion of drilling and production testing the Alkaid-2 well which displayed better-than-expected reservoir deliverability (whilst encountering some operational challenges).
Wells Fargo & Company (NYSE:WFC) has been fined US$97.8mln by the Federal Reserve and the Treasury Department for facilitating transactions that violated US sanctions laws.
The bank reportedly allowed a foreign institution to process US$532mln in prohibited transactions on its Eximbills platform between 2010 and 2015.
HealthBeacon PLC (EURONEXT:HBCN, OTCQX:HBCNF) has reported a 30% increase in technology deployments as it released its preliminary results for the year ended 31 December 2022.
The Dublin-based health devices and software firm said it now had 14,756 units deployed, and a modest 2% revenue growth to €2.25mln.
CleanTech Lithium PLC (AIM:CTL, OTCQB:CTLHF) has reported record levels of activity across its three simultaneous drilling and development programmes in Chile.
Noting that the Chilean government is set to prioritise direct lithium extraction (DLE) projects for the development of future projects in the country, the exploration and development company said it fully supports the government's prioritisation due to the potential environmental and social benefits.
Electric truck maker Nikola Corp (NASDAQ:NKLA) is planning to sell shares to raise US$$100mln.
The EV group is taking a two-pronged approach: It will offer stock to the public at US$1.12 a share but also has an unnamed private investor on hand to pick up the slack if the offering doesn't reach its target.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) has told investors it is increasing its share placing in Zimbabwe and extending the deadline, due to higher-than-expected demand.
The deadline, which had been midday today, will now be extended by up to a week as existing and new Zimbabwean institutional shareholders wish to participate but require extra time to attend to their own administrative requirements, the company said in a statement.
Bens Creek Group PLC (AIM:BEN, OTC:BENCF) announced that it is to acquire a further 26% of the membership interests of BC Rail Holding, through its wholly owned subsidiary, Ben's Creek Carbon LLC, for a cash payment of US$169,000, taking its ownership to 52%.
The owner of a metallurgical coal mine in North America supplying the steel industry said the consideration is being satisfied from the company's existing cash resources.
Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) reported interim results showing it had US$2.1mln of cash at the end of December 2022 and said discussions with strategic investors to secure the funding required to allow the next steps to be delivered at the Phalaborwa rare earths project in South Africa are "progressing well".
During the period the company published the preliminary economic assessment of the project, which presented a base case NPV10 (net present value at a 10% discount rate) of US$627mln, with a payback period of only two years, and a full NPV10 of over US$1bn based on long-term rare earth price forecasts provided by Argus Media.
Billionaire entrepreneur Richard Branson’s satellite-launching company Virgin Orbit Holdings Inc (NASDAQ:VORB) has announced an 85% workforce reduction after failing to secure funding.
The news comes two weeks after the group, 75%-owned by Branson's Virgin Group, announced a pause on operations in an attempt to shore up finances, with it later reported to be hoping to secure a US$200mln lifesaving investment from Texas-based venture capitalist Matthew Brown.
Silver Mines Ltd (ASX:SVL, OTC:SLVMF) has reported a major upgrade to the mineral resource estimate at its Bowdens silver deposit in central New South Wales.
Based on extensive drilling work over the past five and a half years, the estimate now measures 200 million tonnes at 62 grams per tonne (g/t) of silver equivalent, representing a total of 396 million ounces of contained silver equivalent.
Power Nickel Inc said it has closed the first tranche of the private placement previously announced on March 13, 2023, issuing 3,418,000 flow-through (FT) units at a price of $0.50 each for gross proceeds of C$1,709,000. The company has received conditional TSX Venture Exchange approval for the private placement. "We are pleased to close the first Tranche of our previously announced $5,000,000 Private Placement. We expect to close the transaction balance in the next week," said Power Nickel CEO Terry Lynch. "Once again, we have benefited greatly by having our project in Quebec, where very favorable incentives exist for Critical Mineral projects like our NISK Nickel Sulfide project at Nemaska." The company intends to use the gross proceeds from the sale of the FT shares for exploration activities on the Company's NISK property located in Quebec and to incur eligible Canadian exploration expenses, within the meaning of the ITA, that will qualify for the federal 30% Critical Mineral Exploration Tax Credit. The company paid finder's fees of $102,500 in connection with the closing of the first tranche of the offering. It issued 205,080 broker warrants enabling the broker to purchase each unit for $0.50 until September 30, 2024.
Looking Glass Labs Ltd (LGL) said it has completed the sale of its subsidiary, GenZeroes Productions Inc, the GenX smart contract and all associated intellectual property to GZU Entertainment Inc. The purchaser’s team is led by Aleks Paunovic, an actor and producer as well as a cast member of GenZeroes; Rick Dugdale, a director and producer, and founder of Enderby Entertainment; and Neil Stevenson-Moore, the chief product officer of LGL. Concurrent with the closing of the proposed sale of the assets, Stevenson-Moore has resigned from the company to focus on developing GenZeroes as a member of the purchaser’s team. As consideration for the assets the company received a promissory note for C$800,000 bearing an interest rate of prime rate plus 1% and a five-year term to maturity, with the option by the purchaser to extend the term for an additional five years. The company shall also retain a 50% royalty in perpetuity on all net proceeds from the content owned by the entity GenZeroes Productions Inc, which relates to the already completed first season of the GenZeroes series.
Pure Gold Mining Inc has announced that the Supreme Court of British Columbia, on application by the company in its ongoing Companies’ Creditors Arrangement Act (CCAA) proceedings, has approved the appointment of Jonathan Singh as the company’s chief administrative officer (CAO), effective immediately. It is expected that following the planned departures of all other officers of the company on March 31, 2023, Singh will be the company’s sole officer and signing authority. In connection with the CAO appointment, PureGold also announced that all members of its board have each resigned as directors of the company, effective immediately. The changes are taking place in consultation with the company’s senior lender, a fund managed by Sprott Resource Lending Corp and the court-appointed monitor in the ongoing CCAA proceedings, KSV Restructuring Inc. The company expects that the trading of its common shares on the NEX Board of the TSXV Venture Exchange will be suspended following the resignation of its directors.
Voyageur Pharmaceuticals Ltd said it has filed its annual audited financial statements and management's discussion and analysis for the year ended Nov. 30, 2022, on SEDAR. The company also announced that, due to a shortfall in spending on the Frances Creek project, because of closures to the site over the past three years, it is liable for and has accrued a liability to the subscribers that participated in the private placements of flow-through share units that closed on December 31, 2020, and May 5, 2021. The site was closed due to COVID-19 in 2021, forest fires closed the area in 2022 and the Frances Creek forestry road was washed out in 2022 to 2023 and has not been repaired by the Province of British Columbia. The accrual is based on the indemnification clause in the flow-through subscription agreement requiring the company to reimburse shareholders for their tax liability resulting from the spending shortfall. The accrual amount was calculated on the highest marginal tax rate in Alberta (48%) applied to the total spending shortfall of $347,152 amounting to $166,633 liability to the company. The company is also liable for, and has accrued, interest and penalties to the Canada Revenue Agency, which amount to approximately $56,154.
OTC Markets Group Inc, the operator of regulated markets for 12,000 U.S. and international securities, has nnounced that Medinotec Inc, a US-based company with a primary investment in DISA Medinotec, has qualified to trade on the OTCQX Best Market under the symbol MDNC. The OTCQX Market provides investors with a premium US public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among US investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. “We are both proud and excited to have achieved this corporate milestone of being traded on the OTCQX Market. This represents the culmination of hard work and dedication of our management team to increase our exposure to financial markets and creating shareholder value while demonstrating our commitment to the highest corporate governance and reporting standards. I believe this will further support our endeavors in being a proud innovator and manufacturer of novel and quality minimally invasive surgical devices,” said Gregory Vizirgianakis, Chief Executive Officer of Medinotec. “Trading on OTCQX is the culmination of years of hard work, dedication and preparation which will allow Medinotec to execute its business plan to its fullest potential. Today marks the starting point of our journey as a publicly traded company and I am privileged and proud to form part of the team that will continue to grow the company and create shareholder value on a globally recognized platform, which is renowned for its high financial standards and stakeholder transparency,” added Pieter van Niekerk, chief financial officer of Medinotec.
Proactive Research analyst Ryan Long has issued a report on Sonoro Gold Corp which is looking to advance its Cerro Caliche Gold Project, in Sonora State, Mexico, into near-term production, targeting maiden production in 2024. The report can be accessed via the following link: https://www.proactiveinvestors.ca/companies/news/1010887/sonoro-gold-corp-near-term-gold-production-to-fund-regional-exploration-1010887.htm.
Mandalay Resources Corp announced that it has filed its Annual Information Form for the year ended December 31, 2022. The Annual Information Form can be accessed under the Company's profile at www.sedar.com and on the Company's website at www.mandalayresources.com. Mandalay has also filed an updated National Instrument 43-101 compliant Technical Report (NI 43-101) documenting its recent work at its Björkdal gold mine in Sweden. The Technical Report can be accessed under Mandalay's profile at www.sedar.com and on the company's website at www.mandalayresources.com.
Black Swan Graphene’s partnership with Nationwide Engineering Research & Development (NERD) and engineering consultancy Arup announced earlier this week has been recognized as a significant step toward the successful commercial deployment of graphene-enhanced concrete by the University of Manchester. The institution said in an article that the deal strengthens the growing commercial ecosystem around advanced materials for its Graphene Engineering Innovation Centre. The university’s article can be found here: https://www.manchester.ac.uk/discover/news/geic-partner-nerd-boosted-by-arup-and-black-swan-deals-on-concretene/.