Shares of General Motors Company (NYSE:GM) slid Tuesday after roughly 5,000 white-collar employees took advantage of a buyout program designed to shrink the automaker’s workforce.
The program is expected to cost the company about $1 billion this quarter, according to chief financial officer Paul Jacobson. Long-term, the move is part of a plan to eliminate $2 billion in structural costs by the end of 2024.
The National Basketball Association (NBA) will soon allow players to promote and invest in cannabis companies, according to a report by The Athletic.
Per the report, these measures will be included in a new seven-year collective bargaining agreement struck between the NBA and the National Basketball Players Association (NBPA) over the weekend, the details of which are yet to be made public.
G2 Energy Corp (CSE:GTOO, OTC:GTGEF) announced that a pair of its executives will be taking on new roles.
David Whitby, currently a director and president of the company, will take on the role of active chief operating officer. Gabriel Monteiro Queiroz, also a director, will step into the role of chief financial officer.
The Federal Reserve’s attempts to slow inflation may be having an impact, as job openings fell below 10 million in February for the first time in nearly two years.
The 9.93 million job openings were 632,000 lower than January’s downwardly revised figure, according to data released Tuesday by the Labor Department. It was also lower than the Street’s expected 10.4 million openings.
Gold has regained its glister, with the precious metal’s safe haven status reignited by recent problems in the global banking sector including the collapse of Silicon Valley Bank and Credit Suisse’s decline.
Weakness in the latest US economic data and rising expectations that the Federal Reserve may look to start cutting interest rates are the latest factors pushing gold towards its all-time high of $2,075, according to City Index and FOREX.com market analyst Fawad Razaqzada.
C3.ai shares fell more than 25% on Tuesday after short-seller Kerrisdale Capital alleged “serious accounting and disclosure issues” at the company.
The company used “highly aggressive accounting to inflate its income statement metrics in order to meet sell-side analyst estimates for revenue and certain profit metrics, and to conceal significant deterioration in its underlying operations,” Kerrisdale’s chief investment officer Sahm Adrangi alleged in a letter to Deloitte & Touche LLP, C3.AI’s auditor, per a Bloomberg report.
Ford Motor Company (NYSE:F) claimed that it was America’s best-selling brand after it revved up sales by 10.7% to 456,972 vehicles in the first quarter, driven by its F-Series Truck, iconic Broncos, Mustangs and electric vehicles.
The Detroit automaker reported that sales surged across Ford’s areas of strength: three-row SUVs up 47.6%, Bronco brand up 18.3%, Ford Pro Transit van up 86%, Mustang up 5.2% and electric vehicles up 41%.
ION Energy Ltd (TSX-V:ION, OTCQB:IONGF) is a 'Buy' for analysts at Couloir Capital as it makes progress at its projects in Mongolia - Baavhai Uul, and Urgakh Naran.
Noting that initial results of both projects returned a number of high-grade lithium highlights suggesting large base metal potential, the firm reiterated a 'Buy' rating and raised its fair value per share estimate to $1.45 per share from $1.12 per share, in a noted to clients.
Butterfly Network Inc shares added almost 30% after the company announced on Monday that its AI-enabled lung tool Auto B-line Counter has received 510(k) clearance from the US Food and Drug Administration (FDA).
The Auto B-line Counter may simplify how healthcare professionals evaluate adults with suspected diminished lung function and can potentially accelerate their ability to make informed treatment decisions at the point of care, Butterfly Network said in a statement.
Appia Rare Earths & Uranium Corp. (CSE:API, OTCQB:APAAF) said assay results from 2022 diamond drilling of various regional exploration targets at its 100%-owned Alces Lake rare earth elements (REEs) property in Northern Saskatchewan have further established Alces Lake as the company’s priority project.
The company said the Magnet Ridge West Target returned multiple intervals of a REE (monazite-bearing) mineralization over significant drill widths, including 15.78 metres (m) at 0.201% by weight total rare earth oxides (TREO) from hole 22-MRW-005; 6.29m at 0.253% by weight TREO from hole 22-MRW-006, and 10.12m at 0.145% by weight TREO from hole 22-MRW-009.
IGM Financial (TSX:IGM) Inc, a member of the Power Corporation of Canada (TSX:POW) group of companies, revealed that it has bought a 20.5% equity interest in Rockefeller Capital Management, a top US independent financial services advisory firm for US$622 million.
As a result, Winnipeg-based IGM, which is one of Canada's largest diversified wealth and asset management companies, is now Rockefeller's second largest shareholder, with Viking Global Investors remaining the lead shareholder.
First Phosphate Corp. (CSE:PHOS) plans to complete a non-brokered private placement for gross proceeds of up to $2 million or more, the company announced.
The plan is to issue up to 1.25 million flow-through units at a price of $0.80 per unit, with each unit including one common share and one half of one common share purchase warrant exercisable for $1.25.
Predictive Oncology Inc. (NASDAQ:POAI) announced the appointment of Dr. Christoph Reinhard to its scientific board to serve alongside other key thought leaders in their fields to guide the company’s scientific initiatives and growth strategy.
Dr Reinhard is a leader in oncology translational research, new technologies in drug development, and external innovation, the company said in a statement.
Voyageur Pharmaceuticals Ltd (TSX-V:VM, OTC:VYYRF) said it has completed comparative studies of its SmoothX barium contrast media versus ReadiCat 2% with taste test and computed tomography (CT) scans on patients.
Results of the double-blind testing showed that SmoothX was favoured on drinkability and taste by 75% of patients compared to 25% favouring the competing product, the company said in a statement.
BioHarvest Sciences Inc. (CSE:BHSC, OTC:CNVCF) announced the launch of its first major 2023 product marketing campaign centered around its flagship VINIA red grape supplement.
The campaign, titled “Real Stories” focuses on VINIA users and their experiences, and it will include aggressive digital and social media marketing to support advertising content on networks including Fox News, Hulu and TBN, the company said.
Thomson Reuters (NYSE:TRI) has announced it will return approximately US$2.2 billion from gross proceeds of about US$2.3 billion to shareholders after it sold some of its shares in the London Stock Exchange Group (LSEG).
The parent company of Reuters News said the money will be returned to shareholders through a cash distribution of US$4.67 per common share and a share consolidation, or reverse stock split, which will reduce the number of outstanding common shares on a basis that is proportional to the cash distribution.
Alkaline Fuel Cell Power Corp. (NEO:PWWR.AQN) (AFCP) said it will file late its annual financial statements, accompanying management’s discussion and analysis, as well as annual information form for the fiscal year ended December 31, 2022, due to delays to its audit.
This is due to staffing limitations and turnover with the company's foreign subsidiaries which resulted in delays to certain audit procedures and added complexities of auditing certain transactions during the financial year, AFCP said.
ChitogenX Inc (CSE:CHGX, OTCQB:CHNXF) has announced a non-brokered private placement offering of 12,500,000 units at a price of $0.20 each for gross proceeds of $2.5 million.
The Montreal-based clinical-stage regenerative medicine company said the total insider commitments in the new offering "currently stand at $0.7 million."
VR Resources Ltd (TSX-V:VRR, OTCQB:VRRCF) has announced a $2 million non-brokered private placement as it prepares for upcoming drill programs at its projects in northern Ontario.
The junior exploration company said the funds will be directed to drilling this spring for the initial micro-diamond evaluation at its Northway kimberlite breccia pipe discovery, and for infill drilling and metallogeny at the Hecla-Kilmer rare-earth elements (REE) critical mineral discovery.
Soma Gold Corp. (TSX-V:SOMA) told investors it achieved gold production of 6,796 gold equivalent (AuEq) ounces at its 100% owned El Bagre gold mine in Colombia in the first quarter of 2023.
The company said production was 99.2% of forecast despite a seven-day interruption during the general strike in the el Bagre region. It was also 32.6% ahead of the same period last year. The full-year forecast production for 2023 remains unchanged at 35,500 AuEq ounces, it added.
Nevada Silver Corporation (TSX-V:NSC) (NSC) has completed the acquisition of all the outstanding shares of North Star Manganese Inc (NSM) it did not already hold through its wholly-owned subsidiary Electric Metals (USA) Pty Limited (EML).
NSM closed the sale of 3,160,233 of its shares, representing 9.5% of its issued and outstanding shares on August 31, 2022. The other 90.5% of the outstanding shares continue to be held by EML.
Algernon Pharmaceuticals Inc. (CSE:AGN, OTCQB:AGNPF) said its subsidiary Algernon NeuroScience (AGN Neuro) has completed dosing of the second cohort in its escalating dose Phase 1 clinical study of an intravenous formulation of AP-188 (N,N-Dimethyltryptamine or DMT).
The company said AGN Neuro also reported that the safety review committee has approved moving the study forward with the final cohort at an escalated dose after observing no safety or tolerability issues.
Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) announced that Toggle3D has increased the converting power of its CAD to POLY importer by over 10 times, and is now able to convert manufacturing files over 1,000mb.
These new features will allow the company to close new revenue opportunities for enterprise-level manufacturers looking to unleash their CAD files for usage on the web. Toggle3D enables the conversion, texturing, customizing, and sharing of the highest quality 3D models at scale, using CAD files, and is creating an industry-leading solution for the $160 billion CGI market.
CULT Food Science Corp (CSE:CULT, OTCQB:CULTF) has announced the expansion of its pet food division through the launch of three new consumer brands.
The new brands will leverage cultivated ingredients in partnership with the company's portfolio companies, aiming to be a first mover in making cultured meat available for pets in North America.
ARway Corporation (CSE:ARWY, OTC:ARWYF) has announced the release of ARwayKit SDK Version 2.3, packed with significant upgrades and improvements aimed at enhancing AR experiences for users and expanding opportunities for developers.
These upgrades will address a wide range of markets, including retail, tourism, entertainment, and education, increasing ARway’s reach into the $44 billion Indoor Positioning and Navigation Market.
Usha Resources Ltd (TSX-V:USHA) said it has made the second acquisition of its planned expansion into the hard-rock pegmatite space in a continuation of its strategy to build an accretive portfolio complementary to its 100%-owned flagship Jackpot Lake Lithium Brine Project.
The company said it has executed an option with 2758145 Ontario Ltd., Peter Gehrels, and Allan George Onchulenko for the right to purchase The Nym Property, an undivided 100% interest in eight unpatented mining claims located in the Thunder Bay Mining Division of Ontario. Located near Atikokan, Ontario, the property is contiguous with the White Willow Lithium-Tantalum Property recently acquired by Usha and expands the existing 712 claim block to a total of 720 claims, adding 170 hectares to the 15,510 hectares the company has already optioned.
Progressive Planet Solutions Inc (TSX-V:PLAN) said a focus on higher-margin products as it reduces less profitable stock-keeping units (SKUs) is likely to pay off in its next financial year, resulting in positive underlying earnings (EBITDA).
The company reported revenue of $4.5 million for the three months ended January 31, 2023, down from $5.4 million in the prior quarter. Its gross margin reduced to 27% from 32% as a result of one-time events and costs related to the execution of its strategic growth plan to transition from low-margin to high-margin products that will improve EBITDA.
Givex Corp (TSX:GIVX, OTCQX:GIVXF) said it has signed a data-sharing agreement with Marketing Vitals that will allow mutual clients the opportunity to benefit from Marketing Vitals' industry-leading machine learning data analytics software.
"Our integration with Marketing Vitals allows us to provide a seamless connection with their technology," said Mo Chaar, chief commercial officer of Givex in a statement. "Our clients can use the fact-based data they are sitting on today to make smarter strategic decisions across every department."
Carlyle Commodities Corp (CSE:CCC, OTCQB:CCCFF) said it has received encouraging assays from its second drill hole at its 100% owned Newton Gold-Silver Project near Williams Lake, British Columbia.
The Newton Gold-Silver Project is a low sulphide epithermal system which remains open in multiple directions, within a highly prospective land package that is workable year-round.
ReVolve Renewable Power Corp (TSX-V:REVV) said the majority of installation and commissioning works have now been completed at its Battery Energy Storage System (BESS) project located in Cancun, Mexico, and it is expected to be fully operational and revenue-generating from May 1, 2023.
The 3.2MWh project, which is being installed at the site of a major hotel chain in Cancun, is the first BESS project signed under the company's new division, Revolve Renewable Business Solutions.
Activision Blizzard Inc (NASDAQ:ATVI) has been sued by the US Department of Justice (DoJ) alleging the salary cap for esports players in the Call of Duty and Overwatch leagues was anti-competitive.
The video game publisher agreed to settle the suit, the DoJ said overnight, which centred around its so-called 'competitive balance tax' system used by the leagues.
Kazia Therapeutics Ltd (ASX:KZA, NASDAQ:KZIA) is ready to showcase data for its paxalisib and EVT801 pipeline molecules to scientists from the American Association for Cancer Research (AACR) later this month.
The oncology-focused drug developer will present new data at the AACR’s annual meeting, scheduled to commence on April 14 in Orlando, Florida.
Love Pharma Inc said it has issued a total of 5,035,000 options under its incentive stock option plan to management, employees and consultants. Each option entitles the holder to subscribe for one common share of the company for $0.05 for up to a period of 5 years, subject to the terms of the Plan. The options will vest immediately upon issuance. The company also said it cancelled a total of 3,700,000 stock options (pre-consolidation) on December 1, 2022, including 1,375,000 to insiders as they were no longer serving their purpose in aligning the interest of the holders with those of shareholders.
Essex Minerals Inc announced that Elena Tanzola has stepped down as a director and chief financial officer of the company to pursue a career in portfolio management. The board thanked Tanzola for the dedication and expertise she brought to her role at Essex, and wished her the very best with her future endeavours. Vincent Savage, the company secretary of Essex's Australian subsidiaries, has agreed to join the board and take on the role of CFO for the company. Savage has over 35 years working in the building and mining industries, including 20 years working within the insolvency and business advisory sectors, leading mining company restructures throughout Australia. More recently, he has managed refinancing, reconstruction and development projects for mining and residential building companies in both Australia and internationally.
Plurilock Security Inc said it has appointed Jord Tanner as its chief information officer (CIO). In addition to the new role, Tanner will continue to serve as chief technology officer at Plurilock. As CIO, Tanner will be responsible for implementing best practices across all business units, realizing synergies, and unlocking operational efficiencies by deploying automation. He will focus on integrating internal processes and systems from recently acquired companies as well as implementing an ERP platform. “Jord Tanner has been an integral member of our management team and we are pleased to appoint him as Chief Information Officer,” said Ian L. Paterson, CEO of Plurilock. “His appointment will be instrumental to our strategy of maximizing cost-efficiencies while scaling up our operations across all business units that were recently acquired as a result of our M&A program. Overall, we aim to strengthen our infrastructure to unlock new synergies and drive growth.
Lobe Sciences Ltd announced that its CEO and executive chairman Philip Young will present at the SEQUIRE CANNABIS & PSYCHEDELICS CONFERENCE on April 5, 2023, at 10 AM EDT. Registration for the event is accessible via the following link: Sign up free.
Sidus Space Inc announced that it will be attending Space Symposium 2023, April 17 – 20, 2023, at the Broadmoor in Colorado Springs, Colorado. “We look forward to meeting with potential customers and business partners at this must-attend industry event,” Sidus Space CEO Carol Craig said in a statement. “Over 10,000 space professionals and decision makers attend Space Symposium each year, making it the perfect opportunity for us to expand our global reach as we enter a transformative period for our business with the upcoming launch of our first LizzeSat satellite,” Craig added. To book a meeting with Sidus' team click here.
Silver Range Resources Ltd announced that it proposes to issue a total of 148,770 shares to Paladin Geoscience Corp, a private company controlled by Michael Power, Silver Range's CEO, pursuant to a "Shares for Services Agreement". The proposed share issuance, which is subject to TSX Venture Exchange (TSXV) acceptance, is in partial consideration for geological consulting services provided to Silver Range by Paladin during the period October 1, 2022 through March 31, 2023. The shares are to be issued at deemed prices per share ranging from $0.0613 to $0.0744, being the market prices of Silver Range's shares as traded on the TSXV as calculated at the end of each month in which such services were provided, minus 50% of the discount permitted under applicable exchange policies. All consulting fees not paid for the issuance of Silver Range shares are paid in cash.
Perimeter Medical Imaging AI announced that it will report its financial and operating results for the year ended December 31, 2022 after the close of US financial markets on Tuesday, April 11, 2023 at 5 PM EDT. Dial-In Number: 1-877-704-4453; International Dial-In: 1-201-389-0920; Conference ID: 13737416; Audio Webcast: Register here (listen-only); Presenter: Perimeter Medical CEO Jeremy Sobotta. The conference call will also be broadcast live online through a listen-only webcast, which will be posted on the Investors section of the company's website. The webcast will be archived on the company's investor relations webpage for at least 90 days. A telephonic playback of the conference call will be available for 14 days after the conference call by calling 1-844-512-2921 or 1-412-317-6671 from abroad and referencing conference ID 13737416. The above listed dates and times are subject to change.
enCore Energy Corp announced that its chief operating officer, Peter Luthiger, testifies today before the Texas State House Committee on Natural Resources regarding two bills of importance to the uranium industry. Luthiger, who is also chairman of the Texas Mining and Reclamation Association (TMRA), testifies both on behalf of enCore and TMRA's Uranium Mining Committee. Bill HB 4119 would enhance the administrative procedure for permitting in-situ recovery (ISR) of uranium by clarifying the public's ability to participate in one fulsome and transparent hearing, while Bill HB 4120 would allow the Texas Council on Environmental Quality (TCEQ) staff to inspect a proposed well site using aerial or satellite imagery, or other appropriate sources, rather than conducting an on-site visit. The bills would make the administrative process more efficient, reduce staff time and conserve groundwater that would otherwise be consumed in reclamation activities during the permitting process. For more information about Texas State bills HB4119 and HB4120 please visit: HB 4119 https://capitol.texas.gov/tlodocs/88R/billtext/html/HB04119I.htm; HB 4120 https://capitol.texas.gov/tlodocs/88R/billtext/html/HB04120I.htm