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Small cap wrap: MustGrow Biologics, Northstar Gold, NEXE Innovations…

Crocs, Inc. (NASDAQ:CROX) reported better-than-expected first quarter results, beating Wall Street estimates for both revenue and adjusted earnings per share, while also raising its full-year outlook.

Crocs raised its full-year 2026 guidance, now expecting revenue to range from down 1% to up 1% year over year, compared with prior guidance calling for a slight decline.

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Hertz Global (NYSE:HTZ) shares jumped 22% to a three-month high on Thursday after the company unveiled a new fleet management subsidiary called Oro Mobility and named Uber Technologies as its first major partner in a push into autonomous robotaxi and driver-led rideshare operations.

The two companies have formed a pair of strategic fleet partnerships designed to advance Uber's autonomous robotaxi operations as well as its driver-led rideshare services.

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Sintana Energy Inc (TSX-V:SEI, OTCQB:SEUSF, FRA:3ZX1, AIM:SEI) is positioning itself for a catalyst-rich 2026 after a transformative year that expanded its footprint across the Atlantic margin, with new wells, seismic results, and potential farm-in agreements expected across its growing portfolio of offshore exploration assets.

"Few companies of our scale have a comparable level of exposure to substantial near-term value catalysts, positioning us to continue to deliver meaningful value for our shareholders," CEO Robert Bose and president Eytan Uliel wrote in the company's annual shareholder letter.

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Northstar Gold Corp. (CSE:NSG) has closed the first tranche of a non-brokered private placement of critical minerals flow-through common shares, raising gross proceeds of approximately C$300,000 to advance its Cam Copper project in Ontario.

The offering consisted of nearly 4.3 million flow-through shares priced at $0.07 per share, with proceeds designated for eligible Canadian exploration expenses to be renounced to subscribers no later than December 2026.

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374Water Inc (NASDAQ:SCWO, FRA:8LL) has released US government-backed test results demonstrating the performance of its AirSCWO technology in destroying PFAS, a group of persistent environmental contaminants.

The results stem from the company’s participation in a project led by the Defense Innovation Unit (DIU) and the Environmental Security Technology Certification Program (ESTCP), with independent evaluation and presentation by Arcadis.

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NEXE Innovations Inc (TSX-V:NEXE, OTC:NEXNF, FRA:FRA: NX5) reported third-quarter fiscal 2026 results Wednesday, highlighted by a post-quarter commitment from an undisclosed partner to transition its single-serve coffee pod volumes to NEXE's certified compostable platform.

The company said annual production is now anticipated to reach approximately 10 to 15 million compostable pods as a result of the new commitment, combined with growing volumes from its existing customer base.

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MustGrow Biologics Corp. (TSX-V:MGRO, OTCQB:MGROF, FRA:0C0) has reported a sharp increase in revenue for 2025 as it expanded its biological and regenerative agriculture offering.

For the year ended December 31, 2025, the company generated sales revenue of $8.3 million, up from $0.4 million in 2024, reflecting increased commercial activity, particularly for its TerraSante biofertility product in the United States.

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Shares in Built Cybernetics PLC (LSE:BUC) fell sharply after it announced it had raised around £570,000 before expenses to fund its smart buildings strategy, including software development, M&A costs and working capital.

The AIM-listed smart buildings group placed and subscribed for 37,999,994 new ordinary shares at 1.5p each, with the fundraising being conducted in two tranches. It also plans to raise up to a further £100,000 through a retail offer to existing shareholders via the Winterflood Retail Access Platform.

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AIM-quoted iodine specialist lifts H1 production guidance after posting record revenues, EBITDA and output for 2025

Shares in Iofina PLC (AIM:IOF, OTC:IOFNF), the iodine producer and specialty chemicals manufacturer, rose 17% to 37.72p after it said it had set its sights on capturing 5% of global iodine production within three to four years.

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Ceres Power Holdings PLC (LSE:CWR, OTC:CPWHF) shares rose 2.6% to 640p on Thursday, extending a remarkable run that has seen the Horsham-based clean energy technology developer's stock more than double in the past month, valuing the company at £1.24 billion.

The immediate catalyst was the announcement of an infrastructure partnership between Delta Electronics and Centrica, targeting the data centre market and energy-intensive industries across the UK and Europe, with solid oxide fuel cells (SOFCs) providing off-grid energy generation.

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Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) told investors that chairman John Kelly will step down from the role after next week’s annual general meeting, with independent non-executive director July Ndlovu lined up to succeed him.

The gold producer said the move forms part of its board succession plan. Ndlovu’s appointment as chairman remains subject to election by the board immediately after the AGM, which is scheduled for May 5, 2026.

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New drilling at FireFly Metals Ltd (ASX:FFM, TSX:FFM, OTC:MNXMF)'s Green Bay Copper-Gold Project in Newfoundland has reinforced the scale, grade and continuity of the project’s high-grade Core Zone ahead of a planned Mineral Resource Estimate update this quarter.

The update is expected to feed into the company’s Preliminary Economic Assessment (PEA), which remains on track for completion in mid-2026.

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Atlantic Lithium Ltd (AIM:ALL, ASX:A11, OTCID:ALLIF), in its quarterly activities report, highlighted that during the period, it had cleared a major permitting hurdle for what is expected to become the country’s first lithium mine, as Ghana’s Parliament has ratified the Mining Lease for its Ewoyaa Lithium Project.

The ratification represented formal approval for the mine and processing plant ,and enables the company to progress funding talks and continue work towards a project final investment decision.

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Coinsilium Group Limited (AQSE:COIN, OTCQB:CINGF, FRA:5CT), the Aquis-quoted digital asset venture builder, has entered into a strategic advisory agreement with Predictive Labs, a data intelligence platform targeting prediction markets and event-driven finance, deepening its relationship following a $150,000 convertible preference share investment announced in March.

Under the agreement, Coinsilium will provide Predictive Labs with strategic guidance across go-to-market strategy, financial structuring, capital formation and operational scaling, with chief executive Eddy Travia appointed as a named adviser to the company. The advisory fee may be settled in cash or shares.

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Imugene Ltd (ASX:IMU, OTC:IUGNF, FRA:ILA) has highlighted encouraging early clinical data and fresh funding in its March 2026 quarterly report, as the company sharpens its focus on its lead CAR T therapy, azer-cel.

The clinical-stage immuno-oncology company highlighted positive results from its Phase 1b trial, alongside a $16 million capital raising and upcoming exposure at a major global oncology conference.

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archTIS Ltd (ASX:AR9, OTCQB:ARHLF) has delivered strong March quarter growth, with progress across its NC Protect and Spirion platforms, new defence wins and completion of a key US Department of Defense software project.

archTIS has reported annual recurring revenue (ARR) of A$15.1 million for the March 2026 quarter, up 231% on the prior corresponding period, alongside total revenue of A$3.5 million, up 143%.

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Solis Minerals Ltd (TSX-V:SLMN, ASX:SLM, OTCQB:SLMFF, FRA:08WA) has sharpened its focus on lithium and copper growth across South America, advancing multiple projects in Brazil and Peru during the March quarter while lining up near-term drilling catalysts.

The company capped the period with a strategic move into Brazil’s hard-rock lithium sector, acquiring the Brazil Lithium Project in Minas Gerais shortly after quarter-end, adding to ongoing exploration at its Borborema project.

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Lindian Resources Ltd (ASX:LIN, OTC:LINIF) has fully entered construction mode at its flagship Kangankunde Rare Earths Project in Malawi while securing a downstream processing acquisition that reshapes its position in global rare earths supply chains.

During the March quarter, engineering contractor Obsideo mobilised to site and began civil works for the Stage 1 processing plant, marking a transition from early works to full-scale execution. The company continues to target first ore feed and initial concentrate production in November 2026.

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Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO, FRA:1NOR) has outlined a busy exploration runway across its Australian gold portfolio, with multiple drill programs under way or imminent following a March quarter focused on target generation and project advancement.

The release captures key activities from the March period and sets the stage for an increasingly active exploration phase through 2026.

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Percheron Therapeutics Ltd (ASX:PER, OTC:PERCF) progressed preparations for a planned phase II clinical trial of HMBD-002, its lead oncology program, during the March quarter, supported by a $2.2 million entitlement offer completed after the period end.

The funds are to be used to advance development of HMBD-002, a monoclonal antibody targeting the immune checkpoint regulator VISTA, with the trial planned for the second half of CY2026.

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Resolution Minerals Ltd (ASX:RML, OTCQB:RLMLF) has secured two diamond core drill rigs for a major Phase 2 drilling program at the Golden Gate area of its Horse Heaven Antimony-Tungsten-Gold-Silver Project in Idaho, US.

The program, backed by a recent $20 million advance, will start next week and comprise up to 13,700 metres, or 45,000 feet, of diamond core drilling across as many as 45 holes targeting both tungsten and gold mineralisation.

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Cyprium Metals Ltd (ASX:CYM, OTCQB:CYPMF) has strengthened its executive team with the appointment of seasoned copper executive Richard Holmes as chief development officer, as the company advances plans to restart its flagship Nifty Copper Complex in Western Australia.

Holmes brings extensive experience across exploration, development and portfolio strategy, most recently serving in the same role at Sandfire Resources, where he led exploration and business development initiatives across a global copper portfolio.

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Titan Minerals Ltd (ASX:TTM, OTC:TTTNF) delivered a 25% increase in gold and 19% increase in silver resources at its flagship Dynasty Gold Project in southern Ecuador in the March quarter, lifting the project’s mineral resource estimate to 65.6 million tonnes at 1.85 grams per ton (g/t) gold and 12.38 g/t silver for 3.9 million ounces of gold and 26.1 million ounces of silver.

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FireFly Metals Ltd (ASX: FFM, TSX: FFM) has completed the sale of its Ontario gold assets to Bellavista Resources Ltd (ASX: BVR), clearing the way for the company to focus more directly on its flagship Green Bay copper-gold project in Newfoundland, Canada.

The assets sold comprise FireFly’s 70% interest in the Pickle Crow Project and 100% of the Sioux Lookout Project. In return, FireFly has received 60 million Bellavista shares and contingent consideration of 50 million Bellavista performance rights.

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Orthocell Ltd (ASX:OCC, OTC:ORHHF) has achieved first commercial sales of its flagship nerve repair device Remplir™ in Canada, marking the start of revenue generation in the country’s estimated US$75 million nerve repair market.

The milestone follows Health Canada approval and distributor appointments in 2H CY25, which give Orthocell majority national coverage and a pathway to surgeon and hospital adoption across Canada.

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Tamboran Resources Corporation (NYSE:TBN, ASX:TBN, OTC:TBNRL, FRA:O8R) has completed the retail component of its entitlement offer, raising about A$24.8 million as part of a broader equity raise totalling approximately US$197.8 million (A$282.6 million).

The retail entitlement offer, priced at A$0.25 per new CDI on a 1-for-10 basis, closed on April 27 and attracted support from eligible shareholders, with applications received for roughly 22.8 million new CDIs and a further 3.2 million sought through oversubscriptions.

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