Market Signal Briefing

Revenue rose sharply in the second quarter, benefiting from the global push to adopt Windows 11 and the world's largest PC maker's growing server business amid the artificial-intelligence boom.

American Strategic Investment Co. (NYC) Q3 2025 Earnings Call November 19, 2025 6:00 PM EST

Company Participants

Curtis Parker
Nicholas Schorsch - Chief Executive Officer
Michael LeSanto - CFO, Principal Financial Officer, Principal Accounting Officer & Treasurer

Presentation

Operator

Greetings, and welcome to the American Strategic Investment Co.'s Third Quarter Earnings Call. [Operator Instructions] Please note, this conference is being recorded.

I would now like to turn the conference over to Curtis Parker, Senior Vice President. Thank you, Curtis. Over to you.

Curtis Parker

Thank you. Hello, everyone, and thank you for joining us for our third quarter 2025 earnings call. This event is also being webcast in the Investor Relations section of our website. Joining me today on the call to discuss the quarter's results are Nick Schorsch Jr., American Strategic Investment Co's Chief Executive Officer; and Michael LeSanto, the Chief Financial Officer.

The following information contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. Please review the forward-looking and cautionary statements section at end of the third quarter 2025 earnings release for various factors that could cause actual results to differ materially from forward-looking statements made during our call today. Should one or more of these risks or uncertainties materialize, actual results may differ materially from those expressed or implied by the forward-looking statements.

We refer all of you to our SEC filings, including the Form 10-K filed for the year ended December 31, 2024, filed on March 19, 2025, and all subsequent SEC filings for a more detailed discussion of the risks that could cause these differences.

Any forward-looking statements provided during this conference call are only made as of the date of this call. As stated in our SEC filings, the company disclaims any intent

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RGC Resources Inc. (RGCO - Free Report) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +60.00%. A quarter ago, it was expected that this company would post earnings of $0.02 per share when it actually produced earnings of $0.05, delivering a surprise of +150%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

RGC Resources, which belongs to the Zacks Oil and Gas - Refining and Marketing industry, posted revenues of $14.32 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.27%. This compares to year-ago revenues of $13.1 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

RGC Resources shares have added about 8.7% since the beginning of the year versus the S&P 500's gain of 12.5%.

What's Next for RGC Resources?While RGC Resources has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for RGC Resources was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.54 on $29 million in revenues for the coming quarter and $1.31 on $97 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Refining and Marketing is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the broader Zacks Oils-Energy sector, New Fortress Energy (NFE - Free Report) , is yet to report results for the quarter ended September 2025.

This company is expected to post quarterly loss of $0.89 per share in its upcoming report, which represents a year-over-year change of -1880%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

New Fortress Energy's revenues are expected to be $627.77 million, up 10.6% from the year-ago quarter.

Two months ago Nvidia CEO Jensen Huang and OpenAI CEO Sam Altman stood side by side in San Jose, California, to announce a historic agreement between the two leaders in artificial intelligence.

Nvidia would invest $100 billion over a number of years, starting in 2026, as OpenAI's AI supercomputing facilities come online, the duo said. The timing of the buildouts and the cost of each data center weren't disclosed.

But in Nvidia's quarterly financial report on Wednesday, the chipmaker reminded investors that there's a big difference between an announcement and a contract.

"There is no assurance that we will enter into definitive agreements with respect to the OpenAI opportunity or other potential investments, or that any investment will be completed on expected terms," Nvidia said in the risk factors section of its quarterly filing.

Nvidia has been on an investing binge of late, putting its ever-expanding cash hoard to use, and financially supporting companies that buy its graphics processing units, or GPUs. In addition to the OpenAI arrangement, Nvidia on Wednesday highlighted its $5 billion commitment to invest in Intel during the quarter and its agreement this week to invest up to $10 billion in Anthropic.

An OpenAI spokesperson didn't provide a comment but pointed to Huang's statements on the call, including his description of OpenAI as a "once-in-a-generation company" and his expectation that the investment will "translate to extraordinary returns."

"There is no assurance that any investment will be completed on expected terms, if at all," Nvidia said.

The key difference with OpenAI is the scale of the planned investment and the benchmarks that would need to be met for all the money to come through. A source told CNBC at the time of the announcement that an initial $10 billion would be available to OpenAI soon to help the company work towards deploying its first gigawatt of capacity.

Altman said recently that OpenAI will end the year on a $20 billion annualized revenue run rate, which is a massive number considering its flagship ChatGPT product is only three years old. Altman said the company expects to reach hundreds of billions of dollars in revenue by 2030. But that figure doesn't come anywhere close to covering the company's expenses.

In total, OpenAI has announced roughly $1.4 trillion in infrastructure spending with a number of partners as it seeks to continue building out its AI models and services. To get there, the company is reliant on outside capital.

Despite the uncertainty of the September agreement, Nvidia executives continue to sound bullish on the company's work with OpenAI. On Nvidia's earnings call, after the chipmaker reported a solid revenue and earnings beat along with stronger-than-expected guidance, CFO Colette Kress touted OpenAI's growth.

"OpenAI recently shared that their weekly user base has grown to 800 million, enterprise customers has increased to 1 million and that their gross margins were healthy," Kress said. She added that the two companies are "working on a strategic partnership" and that Nvidia is "focused on helping them build and deploy at least 10 gigawatts of AI data centers."

And Huang said, "Everything that OpenAI does runs on Nvidia today."

An OpenAI spokesperson didn't provide a comment, but pointed to Huang's commentary on the call, including his description of OpenAI as a "once-in-a-generation company" and his expectation that the investment will "translate to extraordinary returns."

There's no question that as OpenAI builds out data centers, it will keep spending money on Nvidia's chips. But OpenAI has also partnered with Nvidia rival Advanced Micro Devices, agreeing last month to deploy 6 gigawatts of AMD's Instinct GPUs over multiple years and across multiple generations of hardware, beginning in the second half of next year.

The AMD agreement has one critical component that Nvidia's lacks: signatures.

As part of the pact, the company has issued OpenAI a warrant for up to 160 million shares of the chipmaker's common stock, with vesting milestones tied to deployment volume and AMD's share price. That agreement was signed on Oct. 5, by AMD CFO Jean Hu and OpenAI CFO Sarah Friar.

— CNBC's MacKenzie Sigalos and Ashley Capoot contributed to this report.

November 19, 2025 7:31 PM EST | Source: Faruqi & Faruqi LLP
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses in aTyr to Contact Him Directly to Discuss Their Options

If you purchased or acquired securities in aTyr between January 16, 2025 and September 12, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

New York, New York--(Newsfile Corp. - November 19, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against aTyr Pharma, Inc. ("aTyr" or the "Company") (NASDAQ: ATYR) and reminds investors of the December 8, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating false and misleading statements and/or concealing material adverse facts concerning the efficacy of Efzofitimod, particularly, the drug's capability to allow a patient to completely taper their steroid usage. This caused Plaintiff and other shareholders to purchase aTyr's securities at artificially inflated prices.

In the EFZO-FIT study, efzofitimod failed to show any change in mean daily oral corticosteroid (OCS) dose at week 48, with the OCS dose reducing by an average of 2.79mg for 5.0 mg/kg efzofitimod compared to 3.52 mg for placebo. Complete steroid withdrawal was achieved for 52.6% of patients treated with 5.0 mg/kg efzofitimod versus 40.2% on placebo.

After aTyr Pharma released the results, its stock dropped by 83.25%, from a September 12th market close of $6.03 to a September 15th market close of $1.01.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding aTyr's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the aTyr Pharma class action, go to www.faruqilaw.com/ATYR or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Follow us for updates on LinkedIn, on X, or on Facebook.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275186

For the quarter ended October 2025, Palo Alto Networks (PANW - Free Report) reported revenue of $2.47 billion, up 15.7% over the same period last year. EPS came in at $0.93, compared to $0.78 in the year-ago quarter.

The reported revenue represents a surprise of +0.52% over the Zacks Consensus Estimate of $2.46 billion. With the consensus EPS estimate being $0.89, the EPS surprise was +4.49%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Palo Alto performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

RPO (Remaining Performance Obligation): $15.50 billion compared to the $15.47 billion average estimate based on six analysts.Revenue- Product: $434 million compared to the $423.19 million average estimate based on 13 analysts. The reported number represents a change of +22.7% year over year.Revenue- Subscription and support: $2.04 billion compared to the $2.04 billion average estimate based on 13 analysts. The reported number represents a change of +14.3% year over year.Revenue- Subscription and support- Support: $676 million versus the two-analyst average estimate of $651.71 million. The reported number represents a year-over-year change of +14%.Revenue- Subscription and support- Subscription: $1.36 billion versus $1.39 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +14.5% change.Product gross profit Non-GAAP: $348 million versus the nine-analyst average estimate of $333.92 million.Subscription and support gross profit Non-?GAAP: $1.55 billion compared to the $1.56 billion average estimate based on nine analysts.Subscription and support gross profit GAAP: $1.49 billion versus the two-analyst average estimate of $1.51 billion.Product gross profit GAAP: $345 million compared to the $333.26 million average estimate based on two analysts.View all Key Company Metrics for Palo Alto here>>>

Shares of Palo Alto have returned -6.3% over the past month versus the Zacks S&P 500 composite's -0.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

November 19, 2025 7:38 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - November 19, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of purchasers of securities of Freeport-McMoRan Inc. (NYSE: FCX) between February 15, 2022 and September 24, 2025, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 12, 2026 in the securities class action first filed by the Firm.

SO WHAT: If you purchased Freeport-McMoRan securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Freeport class action, go to https://rosenlegal.com/submit-form/?case_id=45553 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 12, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) Freeport-McMoRan did not adequately ensure safety at the Grasberg Block Cave mine in Indonesia; (2) the lack of proper safety precautions constituted a heightened risk that could foreseeably lead to the death of Freeport's workers; (3) this constituted an undisclosed heightened risk of regulatory, litigation, and reputational risk; and (4) as a result, defendants' statements about Freeport-McMoRan's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Freeport class action, go to https://rosenlegal.com/submit-form/?case_id=45553 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275225

In a significant financial maneuver, 170,000 Solana (SOL) tokens were withdrawn on November 18, 2025, suggesting that large investors, or “whales,” may be indicating confidence in the cryptocurrency's potential rebound. This move comes as the price of Solana hovers around $130, a point that some believe could represent its bottom and an opportunity for strategic accumulation.

Bitcoin miners spent the first half of November unloading coins into a falling market, but now it appears that they have quietly changed their course. On-chain data shows that miner wallets have shifted from net distribution back into net accumulation.

Bitcoin (BTC) price led the wider crypto market in bearish sentiment on Wednesday, November 19, 2025. The flagship coin dropped over 3% to hit a range low of about $88.5k before rebounding to trade around $90.5k at press time. 

The total crypto market cap dropped 3.5% to hover around $3.07 trillion, below its 2021 peak. As a result of the heightened bearish sentiment, more than $651 million was liquidated from crypto leveraged traders, with around $491 million involving long traders. 

Main Reasons Why Bitcoin Price is Likely to Lead A Major Crypto Bull Market SoonHigh capitulation of retail traders amid the stabilization of whale selling pressure According to on-chain data from CryptoQuant, Bitcoin traders and short-term holders have been on a selling spree. On the other hand, Bitcoin miners and long-term holders have not been selling their coins.

Based on historical data, Santiment has concluded that the crypto market often moves in the opposite direction of retail traders. With the notable capitulation of retail traders, a potential crypto rebound is more probable in the coming weeks.

Potential historical rhyme on post-U.S. government shutdownsAccording to James Thorne, the Chief Market Strategist at Wellington-Altus, Bitcoin is well-positioned to repeat its price action after the 2019 U.S. government shutdown. 

“Bitcoin bottomed on February 7, 2019, at $3300, 13 days after the U.S. government reopened (January 25, 2019). Then rallied from this low, rallies over the next five months to peak near $13,000 on June 26, 2019, 139 days after the shutdown ended. History rhymes,” Thorne noted.

Technical tailwindsFrom a technical analysis standpoint, the Bitcoin price has recently retested a crucial support level above $90k. After filling its daily CME gap above $92k, BTC price has signaled a potential rebound ahead.

Source: TradingView

Moreover, the daily Relative Strength Index (RSI) has dropped to its oversold levels.

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Bitcoin's historical reputation as a strong performer in November is being questioned this year after the cryptocurrency recorded a sharp decline, falling more than 10% in the past week and briefly dropping below $90,000. Despite its long-standing status as one of Bitcoin's best months, analysts say that seasonal averages may not reflect today's market conditions.

Journalist

Posted: November 20, 2025

Key Takeaways
How many U.S. Solana ETFs now exist?
Six issuers now compete in the space: BSOL [Bitwise], GSOL [Grayscale], VSOL [VanEck], FSOL [Fidelity], SOLC [Canary], and the newly launched TSOL [21Shares].

Which fund dominates the Solana ETF market?
Bitwise’s BSOL controls over 80% of the market share, with $478.40M in assets, while Grayscale’s GSOL holds second place at $99.97M.

21Shares has launched a new Solana ETF in the United States, expanding the fast-growing lineup of institutional investment vehicles tracking the Solana ecosystem. 

The fund, listed as TSOL on the Cboe BZX Exchange, becomes the sixth U.S.-listed Solana ETF, entering a market that has already accumulated more than $593 million in total assets.

The product charges a 0.21% fee and includes a staking component, allowing the fund to capture additional yield from SOL’s native staking rewards. 

TSOL arrives at a time when institutional demand for Solana exposure has accelerated, despite recent market volatility.

Solana ETF market now includes six issuers
With TSOL’s debut, the U.S. Solana ETF landscape now includes BSOL [Bitwise] with $478.40M in assets, GSOL [Grayscale] at $99.97M, VSOL [VanEck] at $9.16M, FSOL [Fidelity] at $5.38M, SOLC [Canary] at $818K, and the newly launched TSOL from 21Shares.

Before TSOL’s arrival, the five active ETFs together managed $593.73M, representing 0.76% of SOL’s market cap. 

Bitwise dominates the category with a market share of more than 80%, while Grayscale holds a distant second position, with approximately $100M.

TSOL’s launch expands the competitive landscape just as the category begins to show consistent inflow momentum.

ETF inflows remain strong despite market pullbacks
Data from SoSoValue show Solana ETFs recorded $30.09 million in net inflows on 18 November, pushing cumulative net inflows above $420M since launch.

Inflows have shown several sharp spikes throughout recent weeks. The category saw $70M surge on 28 October, followed by another $70M spike on 3 November, and most recently $30M on 18 November. 

These surges occurred even as SOL price briefly softened, suggesting institutional buyers used market dips to add exposure.

The steady rise in total net assets also reflects growing confidence in Solana’s ecosystem strength and its expanding presence in ETF portfolios.

A fast-accelerating race for Solana exposure
With six issuers now active, Solana has become the most competitive altcoin ETF category in the U.S. after Bitcoin and Ethereum. 

The pace of launches suggests asset managers view Solana as the next major on-chain ecosystem with meaningful institutional demand.

TSOL enters a market experiencing rising inflows, expanding staking infrastructure, and increasing institutional interest in high-throughput layer-1 blockchains. 

Its launch positions 21Shares as a direct competitor to Bitwise and Grayscale, while giving investors another low-fee option in a market that still appears early in its growth cycle.

As ETF flows continue to build and Solana’s on-chain activity remains strong, the category could attract significantly more institutional attention heading into 2026.

Solana declined on Tuesday, reaching $134 as the cryptocurrency extended its multi-day retreat to a 13.4% weekly loss, according to market data.

Summary

Solana extended its weekly decline to 13.4% after breaking below a key psychological support level, triggering automated selling.
Trading volume dropped 26.7%, and Solana is now trading below major short-term moving averages.
Analysts say the next major support lies near late-October levels; a reversal would require a daily close above the 7-day simple moving average to avoid further downside.

The digital asset broke below a key psychological price level that served as both support and resistance throughout the fourth quarter, according to technical analysis. The breakdown triggered automated selling and stop-loss orders, accelerating the decline toward the lower end of its recent trading range.

Trading volume for Solana (SOL) decreased 26.7% over 24 hours, indicating reduced market participation during the downturn. The decline occurred alongside broader cryptocurrency market weakness, driven by Bitcoin price pressure and exchange-traded fund outflows.

At last check late Wednesday, Solana was trading at around $134, down 4.6%.

Source: CoinGecko
Solana’s next real safety net
Solana has slipped beneath every major short-term moving average, and even the modest seven-day trend line is now acting as a ceiling rather than a floor. The MACD is still firmly in the red, though it’s beginning to curl upward — a hint that selling momentum may be losing steam.

Analysts say the charts are flashing clear breakdowns across both the 4-hour and daily timeframes. That leaves Solana leaning on its next real safety net: a support zone it last clung to in late October. If that level doesn’t hold, they warn, the slide could deepen.

A reversal would require a daily close above the seven-day simple moving average, according to technical analysts. Without reclaiming that level, price rallies are expected to face rejection and potential retreats toward prior support zones.

Short-term sentiment remains weak across the altcoin market. Solana’s recent ETF inflows and ecosystem developments have not offset the current market-driven decline, according to market observers.

Just this week, VanEck introduced a Solana ETF on Nasdaq, offering institutional access, with initial fees waived and staking rewards passed to investors. Grayscale launched a spot Solana fund in late October, quickly raising significant assets and sharing staking yields with investors after reducing fees.

The cryptocurrency is approaching oversold conditions on lower timeframes, though bulls must reclaim the seven-day simple moving average to invalidate the bearish technical structure, analysts said.

Accelerating demand for solana exposure is fueling a rapid expansion of new ETFs, highlighting strengthening institutional traction and staking-focused designs as 21shares pushes the momentum forward with its latest entry into an expanding market today.

Ripple’s XRP Ledger is reportedly undergoing a strategic shift amid calls from the community for native staking capabilities.

Summary

Zcash almost tripled in value in less than a month
According to Ran Neuner, there has been a coordinated push by key influencers
Tyler and Cameron Winklevoss, and Arthur Hayes recently spoke about Zcash

The development follows the recent launch of the Canary Capital ETF, which recorded significant trading volume on its first day, according to market data.

The two events indicate XRP is expanding beyond its traditional payments-focused operations toward broader investment applications, industry observers noted.

The XRP Ledger community has been discussing implementing native staking features, which would align the platform more closely with decentralized finance (DeFi) protocols currently operating on other blockchain networks.

Ripple has not issued an official statement regarding the timeline or technical specifications for potential staking implementation on the XRP Ledger.

Singing Canary’s praises
The Canary Capital ETF is one of the first exchange-traded funds focused on XRP, providing traditional investors with regulated exposure to the digital asset.

It generated $58 million in first-day trading, slightly surpassing Bitwise’s BSOL ETF, which launched last month with $57 million. The activity places XRPC among the top-performing ETFs of 2025, far ahead of most of the roughly 900 funds launched this year.

The fund’s debut came amid a shaky crypto market, with Bitcoin dipping below $99,000 and total market capitalization falling about 3.5% to $3.43 trillion. Yet trading in XRPC was robust, with $26 million exchanged in the first 30 minutes and over $36 million by mid-morning, including rapid transactions on Robinhood.

XRPC is a physical spot ETF holding only XRP, tracking the token’s price via the CME CF XRP-USD Reference Rate. The fund carries a 0.50% annual fee and uses Gemini Trust and BitGo Trust for custody.

Canary Capital, a Tennessee-based digital asset firm with prior Bitcoin, Ethereum, and HBAR ETFs, positions XRPC as a convenient way for institutions to access XRP’s utility in cross-border payments without managing wallets or custody. Analysts note that demand for payment-linked tokens is rising, as reflected in Canary’s HBAR ETF raising $70 million in its first week.

At last check, XRP was trading at around $2.10, down 5.4% for the day.

Source: CoinGecko

Bitcoin IRAs have attracted savers who treat price dips as entry points, using tax-deferred or tax-free structures to build BTC exposure over decades. Experts say younger investors and those with stable cash flow may benefit most, while retirees face higher volatility and behavior risk.

TL;DR

MNT’s circulating market value soared 189.8% QoQ, driven by integration with Bybit.
Mantle Network’s TVL grew 14%, led by the AGNI Automated Market Maker (AMM) protocol.
The partnership with Bybit transformed MNT into a platform asset with fee discounts and VIP benefits.

Mantle Network, a layer 2 chain focused on onchain finance, reported an exceptional quarter in Q3 2025. The MNT token showed impressive performance, with its circulating market capitalization soaring 189.8% Quarter-over-Quarter (QoQ), rising from $2.0 billion to $5.7 billion.

The price of MNT also increased by 199.8%. This strong growth is largely attributed to the deep integration the project has established with the Bybit exchange, where MNT was positioned as a central platform asset, improving liquidity and utility. The network, which uses an EVM-compatible optimistic rollup and EigenDA, continues to pursue its goal of being the ecosystem’s “liquidity chain.”

The impact of this strategy was notable across Mantle’s infrastructure. Mantle Network’s Total Value Locked (TVL) grew 14% in Q3, from $212.5 million to $242.3 million, driven primarily by AGNI, an Automated Market Maker (AMM) that recorded a 129.9% QoQ growth in its TVL.

Mantle’s robust treasury, valued at approximately $5.6 billion and community-owned, anchors an ecosystem that prioritizes Real World Assets (RWA), DeFi, and restaking. There was also an increase in user activity, with daily active addresses rising 334.6% and a 66.2% increase in quarterly revenues in USD.

The Transformation of MNT to a Central Asset on Bybit
The change in relationship with Bybit went beyond a simple listing. The partnership was formalized through a joint roadmap that transformed MNT into a platform asset for trading, VIP benefits, and institutional products.

Bybit listed 21 new MNT-quoted spot pairs and activated trading fee discounts of up to 25%. For institutional clients, the “MNT x Bybit Institutional” program was launched, which allows using MNT as collateral to unlock greater leverage and longer fixed-rate loan terms.

This deepening of MNT’s utility through a top-tier partner is the main driver behind Mantle Network’s growth, consolidating its modular approach and its commitment to sustainable and efficient liquidity in the onchain space.

Not for distribution to U.S. news wire services or dissemination in the United States.

MARKHAM, ONTARIO, Nov. 19, 2025 (GLOBE NEWSWIRE) -- Extendicare Inc. (“Extendicare” or the “Company”) (TSX: EXE) announced today that its wholly-owned home health care subsidiary, ParaMed Inc. (“ParaMed” or the “Purchaser”), has entered into a definitive agreement to acquire all of the equity interests of CBI Home Health LP and CBI (GP) 3 Inc. and their respective subsidiaries (collectively, “CBI Home Health”), from CBI Health LP and CBI GP Holdco Inc. (the “Acquisition”). The Acquisition will accelerate Extendicare’s services-focused growth strategy and strengthen its national leadership position.

The acquisition will be completed for a cash purchase price of $570.0 million, subject to customary adjustments, plus approximately $13.6 million in estimated lease liabilities in accordance with IFRS 16 – Leases (“IFRS 16”).

Acquisition Highlights

CBI Home Health is a national home health care company, delivering over 10 million hours of care annually across seven provinces, anchored by sizeable Ontario and Alberta operations.  Diversifies ParaMed’s geographic footprint and establishes a sizeable presence in the Alberta market.Enhances ParaMed’s capabilities through innovative care models, including service partnerships with hospitals and specialized community services.Highly complementary to Extendicare’s home health platform, adding scale to ParaMed’s technology platform to drive operating performance and significant IT and other cost synergies.Highly compelling financial profile: 8.4x Adjusted EBITDA multiple after giving effect to the expected post-Acquisition synergies of approximately $7.4 million, resulting in pro forma AFFO per share and earnings per share (fully diluted) accretion of 20% and 15%, respectively (as further described below).1Prudent financing plan resulting in 3.3x Pro forma Total Debt to Adjusted EBITDA as at September 30, 2025.2 In connection with the Acquisition, the Company further announced today that it has entered into an agreement with a syndicate of underwriters co-led by CIBC Capital Markets, as sole bookrunner, and BMO Capital Markets (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” private placement basis, 10.64 million common shares of Extendicare (the “Offered Shares”) at a price of $18.80 per share (the “Offering Price”), for gross proceeds of approximately $200 million (the “Offering”).

“Home care services play an important role in relieving pressure on the rest of the health care system. The combination of ParaMed and CBI Home Health brings together two outstanding teams to enhance access to community-based care across the country,” said Dr. Michael Guerriere, President and CEO of Extendicare. “This Acquisition accelerates the growth trajectory of our home health care segment, significantly enhancing our presence in Western Canada and adding innovative care models to broaden our service offerings. The deep bench of talent and scale of our combined operations will allow us to support more Canadians to live independently at home, while leveraging our technology platform to drive outstanding customer experience and significant cost synergies to deliver strong value for our customers and shareholders,” added Dr. Guerriere.

________________________
1 “Adjusted EBITDA” and “AFFO per share” are non-GAAP financial measures. See “Non-GAAP Measures” below. Based on CBI Home Health’s trailing twelve months (TTM) ended July 31, 2025 Adjusted EBITDA of $61.9 million, including adjustments for lease accounting policy alignment adjustments to EBITDA ($5.5 million) and lease liability ($13.6 million) related to facilities leases, net of Extendicare Quality of Earnings (“QoE”) EBITDA adjustments of $3.3 million. Per share amounts calculated based on fully-diluted shares outstanding as at September 30, 2025, including the 10,640,000 common shares of Extendicare to be issued in connection with the Offering (as defined below).
2 “Pro forma total debt to Adjusted EBITDA ratio” is a non-GAAP ratio. See “Non-GAAP Measures” below. Pro forma total debt to Adjusted EBITDA is based on the combined Extendicare and CBI Home Health third quarter 2025 (“Q3-25”) TTM results, including outstanding Extendicare letters of credit.

Acquisition Overview

CBI Home Health is the home health care subsidiary of CBI Health LP. It provides services in seven provinces and delivered over 10 million hours of care in 2024 (average daily volume of approximately 28,000 hours). CBI Home Health’s approximately 8,500 team members provide a comprehensive suite of publicly funded home health care services, including innovative care models such as hospital to home programs, integrated care provided by interdisciplinary teams and specialized community support services, in addition to the more traditional provincially funded home health care services.

CBI Home Health’s standalone financial performance for the twelve months ended July 31, 2025, generated revenue of approximately $477.9 million and Adjusted EBITDA3 of approximately $61.9 million (or approximately 12.9% Adjusted EBITDA margin3). Based on these results, the purchase price of $570.0 million and approximately $13.6 million in estimated lease liabilities in accordance with IFRS 16, represents an estimated purchase price multiple of 9.4x CBI Home Health’s Adjusted EBITDA. Extendicare expects to realize annualized run-rate synergies of approximately $7.4 million related to the integration of IT platforms and other cost synergies over the two-year period following closing of the Acquisition. Including the effect of these synergies, the implied purchase price multiple would be approximately 8.4x of CBI Home Health’s Adjusted EBITDA.

Given the complementary nature of ParaMed’s and CBI Home Health’s operations, Extendicare expects to realize further annualized run-rate synergies of approximately $5.0 to $7.0 million over a longer period of time as the Company deploys enhanced technology solutions to drive productivity gains in areas such as automated scheduling and front-line employee experience once CBI Home Health’s business has been fully integrated.

Closing of the Acquisition is subject to customary closing conditions, including receipt of consents from third parties, including Ontario Health atHome and Assisted Living Alberta, and regulatory approval pursuant to the Competition Act (Canada), and is not conditional on financing or due diligence. The Acquisition is anticipated to close in the first quarter of 2026.

________________________
3 “Adjusted EBITDA” and “Adjusted EBITDA margin” is a non-GAAP financial measure and a non-GAAP ratio, respectively. See “Non-GAAP Measures” below. Based on CBI Home Health TTM July 31, 2025 Adjusted EBITDA of $61.9 million, including adjustments for lease accounting policy alignment adjustments to EBITDA ($5.5 million) and lease liability ($13.6 million) related to facilities leases, net of Extendicare QoE EBITDA adjustments of $3.3 million.

Acquisition Financing

The Acquisition will be funded through a fully-committed $264.5 million upsizing to the Company’s existing senior secured credit facility, comprising: a $60.0 million increase to the Company’s existing revolving credit facility; a $204.5 million increase to the Company’s existing delayed draw term facility that will be fully drawn on closing; a new $150.0 million equity bridge facility that will backstop the Offering and will be reduced or cancelled in its entirety upon closing of the Offering; draws on the increased revolving credit facility; and cash on hand. Based on the above, and assuming that the Acquisition closed as at September 30, 2025, it is estimated that Extendicare’s pro forma total debt to Adjusted EBITDA4 as at September 30, 2025 would be 3.3x.

Additionally, the Company intends to use the proceeds from the Offering (net of Underwriters’ fees) of approximately $192 million to partially fund the Acquisition.

The Offered Shares will be offered by way of private placement to “accredited investors” in all provinces of Canada and in the United States on a private placement basis to “qualified institutional buyers” pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”). Closing of the Offering is expected to occur on or about December 3, 2025, subject to the approval of the Toronto Stock Exchange and customary closing conditions. The closing of the Offering is not conditional on closing of the Acquisition. In the event that the Acquisition does not ultimately close, Extendicare intends to use the net proceeds from the Offering to reduce its outstanding indebtedness, finance future growth opportunities, including acquisitions, and for general corporate purposes.

The Offered Shares have not been and will not be registered under the U.S. Securities Act, or under any state securities laws in the United States, and may not be offered, sold, directly or indirectly, or delivered within the United States except in certain transactions exempt from or not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy Offered Shares in the United States or in any other jurisdiction where such offer is or may be unlawful.

________________________
4 “Pro forma total debt to Adjusted EBITDA ratio” is a non-GAAP ratio. See “Non-GAAP Measures” below. Pro forma total debt to Adjusted EBITDA is based on the combined Extendicare and CBI Home Health results for TTM Q3-25, including outstanding Extendicare letters of credit.

Conference Call

Extendicare has posted an investor presentation and a pre-recorded management presentation online at www.extendicare.com under the “Investors/Events & Presentations” section.

Advisors

CIBC Capital Markets is acting as financial advisor and Torys LLP is acting as legal advisor to Extendicare in connection with the Acquisition and related financings. Blake, Cassels & Graydon LLP is acting as legal advisor to the Underwriters in connection with the Offering. TD Securities and Houlihan Lokey are acting as financial advisors and Stikeman Elliott LLP is acting as legal advisor to CBI Home Health in connection with the Acquisition. Canadian Imperial Bank of Commerce is acting as lead arranger and administrative agent under Extendicare’s credit facilities and McCarthy Tétrault LLP is acting as legal advisor to Canadian Imperial Bank of Commerce in connection with such credit facilities.

About Extendicare

Extendicare is a leading provider of care and services for seniors across Canada, operating under the Extendicare, ParaMed, Extendicare Assist, and SGP Purchasing Network brands. We are committed to delivering quality care to meet the needs of a growing seniors’ population, inspired by our mission to provide people with the care they need, wherever they call home. We operate a network of 99 long-term care homes (59 owned, 40 under management contracts), deliver approximately 13.5 million hours of home health care services annually, and provide group purchasing services to third parties representing approximately 152,100 beds across Canada. Extendicare proudly employs approximately 28,000 qualified, highly trained and dedicated team members who are passionate about providing high-quality care and services to help people live better.

Non-GAAP Measures

Certain measures used in this press release, such as “Adjusted EBITDA”, “Adjusted EBITDA margin”, “AFFO” and “Pro forma total debt to Adjusted EBITDA”, including any related per share amounts, are not measures recognized under GAAP and do not have standardized meanings prescribed by GAAP. These measures may differ from similar computations as reported by other issuers and, accordingly, may not be comparable to similarly titled measures as reported by such issuers. These measures are not intended to replace earnings (loss) from continuing operations, net earnings (loss), cash flow, or other measures of financial performance and liquidity reported in accordance with GAAP. Such items are presented in this press release because management believes that they are relevant measures of Extendicare’s operating performance and ability to pay cash dividends.

Management uses these measures to exclude the impact of certain items, because it believes doing so provides investors a more effective analysis of underlying operating and financial performance and improves comparability of underlying financial performance between periods. The exclusion of certain items does not imply that they are non-recurring or not useful to investors.

Detailed descriptions of these measures can be found in Extendicare’s Q3 2025 MD&A (refer to “Non-GAAP Measures”), which is available on SEDAR+ at www.sedarplus.ca and on Extendicare’s website at www.extendicare.com, and which is incorporated by reference in this press release.

Please see below for additional information related to certain of the Non-GAAP measures included herein:

“Pro forma total debt to Adjusted EBITDA” is a Non-GAAP ratio and is defined as total debt divided by Adjusted EBITDA. Total debt consists of all short-term and long-term credit facilities, mortgages and lease liabilities on the Company’s balance sheet, excluding deferred financing costs.

Reconciliations for certain non-GAAP measures included in this press release are provided below.

The following table provides a reconciliation of pro forma net operating income to Adjusted EBITDA.

 Extendicare Inc. CBI Home Health LP Extendicare Inc. (unaudited)
(thousands of dollars unless otherwise noted)Twelve months ending September 30, 2025(1) Out-of-
period
adjust-
ments(2)Adjusted twelve months ending September 30, 2025 Pro forma adjust-
ments(3) Pro forma adjusted twelve months ending September 30, 2025 Adjusted twelve months ending July 31, 2025(4) Pro
forma consolidatedRevenue1,589,938  (15,179)1,574,759  143,569  1,718,329  477,943  2,196,272 Operating expenses(1,365,014) 733 (1,364,281) (129,429) (1,493,710) (421,589) (1,915,299)Net operating income224,924  (14,445)210,479  14,140  224,619  56,353  280,973 IFRS 16 adjustment-  - -  476  476  5,504  5,980 Net operating income, IFRS 16 adjusted224,924  (14,445)210,479  14,616  225,095  61,857  286,952 Administrative costs(59,063) - (59,063) -  (59,063) -  (59,063)Adjusted EBITDA165,861  (14,445)151,416  14,616  166,032  61,857  227,889 Depreciation and amortization(35,168) - (35,168) (3,026) (38,194) (16,437) (54,632)Other expense (income)6,466  - 6,466  (647) 5,819  (839) 4,981 Share of profit from investment in joint ventures1,037  (567)470  -  470  -  470 Earnings before net finance costs and income taxes138,196  (15,012)123,184  10,943  134,127  44,581  178,708 Interest expense (net of capitalized interest)(18,448) - (18,448) (2,292) (20,740) (16,870) (37,609)Interest revenue5,844  - 5,844  (1,682) 4,162  (1,757) 2,405 Accretion(944) - (944) -  (944) -  (944)Loss on early redemption of convertible debentures(820) - (820) -  (820) -  (820)Fair value adjustments(2,399) - (2,399) -  (2,399) -  (2,399)Net finance costs(16,767) - (16,767) (3,974) (20,741) (18,626) (39,367)Earnings before income taxes121,429  (15,012)106,417  6,969  113,386  25,955  139,341 Current income tax expense(35,614) 3,971 (31,643) (2,221) (33,864) (6,878) (40,742)Deferred income tax recovery5,190  - 5,190  -  5,190  -  5,190 Total income tax expense(30,424) 3,971 (26,453) (2,221) (28,674) (6,878) (35,552)Net earnings91,005  (11,041)79,964  4,748  84,712  19,077  103,789 Earnings per basic share ($)1.077  (0.131)0.946  0.056  1.002  0.200  1.091 Earnings per diluted share ($)1.062  (0.129)0.933  0.055  0.989  0.198  1.077 Weighted Average Number of Shares            Basic (000's)84,524  84,524 84,524  84,524  84,524  95,164  95,164 Diluted (000's)85,688  85,688 85,688  85,688  85,688  96,328  96,328 
The following table provides a reconciliation of pro forma net earnings to FFO and AFFO.

 Extendicare Inc. CBI Home Health LP Extendicare Inc. (unaudited)
(thousands of dollars unless otherwise noted)Twelve months ending September 30, 2025(1) Out-of-
period
adjust-
ments(2)Adjusted twelve months ending September 30, 2025 Pro forma adjust-
ments(3) Pro forma adjusted twelve months ending September 30, 2025 Adjusted twelve months ending July 31, 2025(4) Pro
forma consolidatedNet earnings91,005  (11,041)79,964  4,748  84,712  19,077  103,789 Add (Deduct):            Depreciation and amortization35,168  - 35,168  3,026  38,194  16,437  54,632 Depreciation for FFEC (maintenance capex)(7,814) - (7,814) (2,348) (10,162) (12,136) (22,298)Depreciation for office leases(3,033) - (3,033) -  (3,033) (4,301) (7,334)Other expense (income)(6,466) - (6,466) 647  (5,819) -  (5,819)Loss on early redemption of convertible debentures820  - 820  -  820  -  820 Fair value adjustments2,399  - 2,399  -  2,399  -  2,399 Current income tax expense (recovery) on other expense (income) and FV adjustments(1,059) - (1,059) -  (1,059) -  (1,059)Deferred income tax recovery(5,190) - (5,190) -  (5,190) -  (5,190)FFO adjustments for joint ventures2,811  - 2,811  -  2,811  -  2,811 FFO108,641  (11,041)97,600  6,073  103,673  19,077  122,750 Amortization of deferred financing costs1,499  - 1,499  -  1,499  839  2,338 Accretion costs944  - 944  -  944  -  944 Non-cash share-based compensation393  - 393  -  393  -  393 Principal portion of government capital funding1,616  - 1,616  -  1,616  -  1,616 Additional maintenance capex(9,907) - (9,907) -  (9,907) 8,303  (1,604)AFFO adjustments for joint ventures(91) - (91) -  (91) -  (91)AFFO103,095  (11,041)92,054  6,073  98,127  28,219  126,346 Per Basic Share ($)            FFO1.285  (0.131)1.155  0.072  1.227  0.200  1.290 AFFO1.220  (0.131)1.089  0.072  1.161  0.297  1.328 Per Diluted Share ($)            FFO1.268  (0.129)1.139  0.071  1.210  0.198  1.274 AFFO1.203  (0.129)1.074  0.071  1.145  0.293  1.312  Notes:

(1) Represents the consolidated results of Extendicare for the twelve-month period ended September 30, 2025, as reported.
(2) Represents adjustments to revenue and operating expenses for the twelve-month period ended September 30, 2025, related to out-of-period retroactive funding adjustments and workers’ compensation rebates related to prior periods, net of tax at the current statutory tax rates currently or substantively enacted of 26.5%.
(3) Represents the adjustments to annualize the impact of: (i) the acquisition of the issued and outstanding shares of Closing the Gap Healthcare Group Inc. and certain affiliates (collectively, “Closing the Gap”) from the ultimate shareholders of Closing the Gap (the “CTG Transaction”) which closed on July 1, 2025; and (ii) the acquisition of nine Class C long-term care (“LTC”) homes acquired from the seller and certain of its affiliates that closed on June 1, 2025 and the related loss of management contracts related to these homes, and an additional 21 LTC homes sold on May 1, 2025 by the seller to a third party that were being managed by the Company (collectively, the “LTC Transactions”), as follows:

(i) Additional trailing nine months ended June 30, 2025, of the financial performance of Closing the Gap, including certain adjustments of $0.6 million related to differences in estimates and timing matters identified in the Company’s due diligence and assuming the purchase price was settled with a $55.0 million increase in the Company’s delayed draw term loan bearing interest at an estimated 5.24%, with the remainder funded with cash on hand. Results exclude any impact of the potential earn-out and do not give effect to potential costs savings or operating synergies; 
(ii) Additional eight-month impact of the nine LTC homes acquired on June 1, 2025, and the corresponding loss of the management contracts associated therewith and an additional seven-month impact of the loss of the management contracts for the 21 homes sold as of May 1, 2025. Estimated Revenue, NOI and AFFO derived from the actual results for the nine months ended September 30, 2024 for the nine LTC homes and associated management contracts lost and assuming the purchase price for the nine LTC homes was paid with cash on hand; and
(iii) the impact of the above adjustments, net of tax at the current statutory tax rates currently or substantively enacted of 26.5%.

(4) Reflects the Acquisition for a cash purchase price of $570.0 million, plus the assumption of approximately $13.6 million in estimated lease liabilities under IFRS 16, before customary net working capital and other closing adjustments. Assumes the purchase price is funded with $359.0 million of incremental revolver and delayed draw term loan debt bearing interest at an estimated 4.8%; the net proceeds from the Offering; and cash on hand. Pro forma adjustments are based on the unaudited TTM July 31, 2025 results of CBI Home Health, adjusted for estimated lease accounting adjustments under IFRS 16 of $5.5 million, certain adjustments related to differences in estimates and timing matters identified in the Company’s due diligence QoE of $3.3 million, and additional depreciation and amortization resulting from the preliminary purchase price allocation primarily related to the estimated recognition of customer contract and customer relationship intangible assets. Net earnings are adjusted for tax impacts based on the statutory tax rates currently or substantively enacted of 26.5%. Results exclude any impact of potential costs savings or operating synergies. Per share figures are based on 10,640,000 common shares of Extendicare to be issued in connection with the Offering.

Forward-Looking Statements
Certain statements contained in this press release may be considered “forward-looking information” as defined under applicable securities laws (“forward-looking statements”). Statements other than statements of historical fact contained in this press release may be forward-looking statements, including, without limitation, management’s expectations, intentions and beliefs concerning anticipated future events, results, circumstances, economic performance or expectations with respect to the Company, including, without limitation: statements regarding the Acquisition, the timing of its completion and financial impact therefrom (including anticipated post-Acquisition synergies and the timing of those synergies), the terms of the Offering, the timing of closing thereof and the intended use of proceeds therefrom, and Extendicare’s business operations, business strategy, growth strategy, results of operations and financial condition. Forward-looking statements can often be identified by the expressions “anticipate”, “believe”, “estimate”, “expect”, “intend”, “objective”, “plan”, “project”, “will”, “may”, “should” or other similar expressions or the negative thereof. These forward-looking statements reflect the Company’s current expectations regarding future results, performance or achievements and are based upon information currently available to the Company and on assumptions that the Company believes are reasonable. Actual results and developments may differ materially from results and developments discussed in the forward-looking statements, as they are subject to a number of risks and uncertainties.

Although forward-looking statements are based upon estimates and assumptions that the Company believes are reasonable based upon information currently available, these statements are not representations or guarantees of future results, performance or achievements of the Company and are inherently subject to significant business, economic and competitive uncertainties and contingencies. In addition to the assumptions and other factors referred to specifically in connection with these forward-looking statements, the risks, uncertainties and other factors that could cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by the forward-looking statements, include, without limitation, those risks, uncertainties and other factors identified in the Company’s regulatory filings with the Canadian securities regulators, including Extendicare’s current annual information form and management’s discussion and analysis, which are available on SEDAR+ at www.sedarplus.ca under the Company’s issuer profile. These risks and uncertainties include the following: the occurrence of a pandemic, epidemic or outbreak of a contagious illness, such as COVID-19; changes in the overall health of the economy and changes in government, both domestic and foreign; the availability and ability of the Company to attract and retain qualified personnel; changes in the health care industry in general and the long-term care industry in particular because of political, legal and economic influences; inflationary pressures and supply chain interruptions, in particular as they impact redevelopment; changes in regulations governing the health care and long-term care industries and the compliance by the Company with such regulations; changes in government funding levels for health care services; the ability of the Company to comply with and renew its government licenses and customer and joint venture agreements; changes in labour relations, employee costs and pay equity; changes in tax laws; resident care and class action litigation, including the Company’s exposure to punitive damage claims, increased insurance costs and other claims; the ability of the Company to maintain and increase resident occupancy levels and business volumes; changes in competition; changes in demographics; changes in interest rates; changes in the financial markets, which may affect the ability of the Company to refinance debt; and the availability and terms of capital to the Company to fund capital expenditures and acquisitions; changes in the anticipated outcome and benefits of proposed or actualized dispositions, acquisitions and development projects, including risks relating to the actual completion of proposed transactions. The forward-looking statements relating to the Acquisition and the benefits expected to be realized therefrom is subject to further risks regarding the possible failure to complete the Acquisition; potential inability of the Company to successfully integrate CBI Home Health’s business upon completion of the Acquisition; the potential failure to realize anticipated benefits from the Acquisition; unexpected costs or liabilities related to the Acquisition; or risks related to information provided by CBI Home Health.

The preceding reference to material factors or assumptions is not exhaustive. All forward-looking statements contained in this press release are qualified in their entirety by this forward-looking disclaimer. Although forward-looking statements contained in this press release are based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. Accordingly, readers should not place undue reliance on such forward-looking statements and assumptions as management cannot provide assurance that actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. The forward-looking statements speak only as of the date of this press release. Except as required by applicable securities laws, the Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Financial outlook and future-oriented financial information contained in this press release about prospective financial performance or financial position is based on assumptions about future events, including economic conditions and proposed courses of action, based on management’s assessment of the relevant information currently available. Readers are cautioned that any such financial outlook and future-oriented financial information contained herein should not be used for purposes other than for which it is disclosed herein. The prospective financial information included in this press release has been prepared by, and is the responsibility of, management and has been approved by management as of the date hereof. The Company and management believe that prospective financial information has been prepared on a reasonable basis, reflecting the best estimates and judgments, and represent, to the best of management’s knowledge and opinion, the Company’s expected course of action. However, because this information is highly subjective, it should not be relied on as necessarily indicative of future results. The preparation of any financial outlook is complex and is not necessarily susceptible to partial analysis or summary description and any attempt to do so could lead to undue emphasis on any particular factor or analysis. Furthermore, investors should not assume that any pro forma financial information included in this press release will be the actual financial position of the Company in the future.

Extendicare contact:
David Bacon, Executive Vice President and Chief Financial Officer
T: (905) 470-4000
E: [email protected]
www.extendicare.com

November 19, 2025 5:19 PM EST | Source: Faruqi & Faruqi LLP
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Significant Losses in Tvardi to Contact Him Directly to Discuss Their Options

If you suffered significant losses in Tvardi stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

New York, New York--(Newsfile Corp. - November 19, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Tvardi Therapeutics, Inc. ("Tvardi" or the "Company") (NASDAQ: TVRD).

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

On Monday, October 13, 2025, Tvardi Therapeutics, Inc. saw its shares plummet over 80% after disappointing preliminary data from the Phase 2 REVERT clinical trial of TTI-101 in idiopathic pulmonary fibrosis. The study was designed to assess safety, pharmacokinetics, and exploratory outcomes related to lung function. After reviewing the preliminary safety data and exploratory efficacy results, including changes in Forced Vital Capacity (FVC), the Company concluded that the study did not meet its goals. Preliminary data demonstrated patients' baseline characteristics were similar across treatment arms, with the exception of percent predicted FVC, which was lower in the placebo-treated patients compared to the TTI-101-treated arms.

To learn more about the Tvardi investigation, go to www.faruqilaw.com/TVRD or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275201

The renowned hedge fund, Renaissance Technologies, disclosed a sizable stake in Strategy (MSTR), signaling fresh quantitative interest in the bitcoin-heavy firm's equity.

NEW YORK, Nov. 19, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Telix Pharmaceuticals Ltd. (NASDAQ: TLX) between February 21, 2025 and August 28, 2025, both dates inclusive (the “Class Period”), of the important January 9, 2026 lead plaintiff deadline in the securities class action first filed by the Firm.

SO WHAT: If you purchased Telix securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Telix class action, go to https://rosenlegal.com/submit-form/?case_id=43778 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 9, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) defendants materially overstated the progress Telix had made with regard to prostate cancer therapeutic candidates; (2) defendants materially overstated the quality of Telix’s supply chain and partners; and (3) as a result, defendants’ statements about Telix’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Telix class action, go to https://rosenlegal.com/submit-form/?case_id=43778   or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

November 19, 2025 17:23 ET

 | Source:

Automotive Finco Corp.

Not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. 

TORONTO, Nov. 19, 2025 (GLOBE NEWSWIRE) -- Automotive Finco Corp. (NEX: AFCC-H) (the “Company”) today announced that it has filed condensed interim consolidated financial statements for the nine months ended September 30, 2025. The statements together with the Management Discussion and Analysis can be found on the Company’s SEDAR+ profile at www.sedarplus.ca.

Additionally, subsequent to September 30, 2025 the Partnership’s loan investment including all outstanding interest was paid. The total received was $26,608,540. Additional information can be found in the above-mentioned financial statements and Management Discussion and Analysis.

Given the repayment received, the Company is currently exploring strategic alternatives to return the majority of the cash to shareholders efficiently. The Company will provide updates to shareholders in due course.

About Automotive Finco Corp.

Automotive Finco Corp. is a finance company focused exclusively on the auto retail sector. In addition to its interest in Automotive Finance Limited Partnership, the Company may also pursue other direct investments and financing opportunities across the auto retail sector.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information please refer to the Company's website at www.autofincocorp.com or contact Shannon Penney, Chief Financial Officer, at [email protected] or (905) 619-4996.

OverActive Media Corp. (OAM:CA) Discusses Growth Strategy and AI-Powered Creator Monetization Platform November 19, 2025 1:00 PM EST

Company Participants

Babak Pedram - Chief Operating Officer
Adam Adamou - Co-Founder, Chief Strategy Officer & CEO

Presentation

Babak Pedram
Chief Operating Officer

Good afternoon, everyone, and thanks for joining us. Apologies for the few minutes of delay. We've been facing some technical issues, unfortunately.

To start, I'll give you a little overview of OverActive, and I'll pass the call to Adam. OverActive Media is a digital media and entertainment company with operations in Toronto, Madrid and Berlin. The company combines high-margin digital revenue streams, sponsorships, content licensing, creator monetization and in-game digital sales with ownership of 2 of the most valuable esports franchises in the world. With global partners Telefonica, Bell, Pepsi, Red Bull and AMD, OverActive is positioned as a scalable media platform backed by rare appreciating franchise assets. The company is listed on the TSX venture under the symbol OAM on the OTC under the symbol OAM CF and on the Frankfurt Exchange under the symbol 0RB.

Today, Mr. Adam Adamou, Co-Founder and CEO of OverActive will provide an overview of the business, including the company's growth strategy and clear road map for ActiveVoices, OverActive's proprietary AI-powered creator monetization platform. At the end of the session, we'll also address the questions investors have submitted by e-mail. Over to you, Adam.

Adam Adamou
Co-Founder, Chief Strategy Officer & CEO

All right. Thanks, Babak. First of all, let me start by apologizing if we were using the ActiveVoices platform instead of the Zoom platform, I think this presentation would go off without a hitch. One of the challenges that we're having with Zoom right now is that we have a number of slides here that require sound on your end. And we've got some ActiveVoices examples. Obviously, ActiveVoices is all about

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MSCI Inc. (MSCI) Global Technology, Internet, Media & Telecommunications Conference 2025 November 19, 2025 2:40 PM EST

Company Participants

Jorge Mina - Head of Analytics

Conference Call Participants

Ashish Sabadra - RBC Capital Markets, Research Division

Presentation

Ashish Sabadra
RBC Capital Markets, Research Division

I'm Ashish Sabadra, and I cover info services companies here at RBC. We are excited to host Jorge, Head of Analytics at MSCI thanks again for giving us this opportunity.

Jorge Mina
Head of Analytics

Thank you, Ashish. Great to be here.

Question-and-Answer Session

Ashish Sabadra
RBC Capital Markets, Research Division

I'll kick off the conversation with a question on GenAI because that has been the most topical question across our universe and at the tech conference, how do you think about the GenAI? One of the questions that we get is, obviously, the disintermediation risk. But then if you can also talk about the proprietary data, how deeply embedded you are within the workflows? And as well as talk about the monetization opportunity. So we'll first go with the top line and then we may talk about the efficiency part.

Jorge Mina
Head of Analytics

Yes. So we're very excited about GenAI in general, for both of those reasons. We think it will make us way more efficient than we are today and then have to talk about the things that we're doing in that regard. But we also think there's opportunities to expand ways in which our clients are using it, develop new products. And so lots and lots of opportunities that we see going forward.

So let me talk about internally first, how we're doing it because I think that's something that we've been doing for a very long time. Generally using standard leading products and embedding them in every part of what we do, certainly

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Federally chartered Anchorage Digital Bank is integrating Mezo’s BitcoinFi tools into its custody platform, giving institutions a compliant path to borrow against BTC.

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Mezo, a Bitcoin-native DeFi platform for BTC-backed borrowing and yield, has partnered with Anchorage Digital to bring low-cost stablecoin loans and short-term veBTC rewards to institutional clients.

The move gives public companies and digital asset treasuries a compliant on-ramp into Bitcoin-native finance.

Through Anchorage’s Porto wallet, institutions can borrow against their Bitcoin (BTC) at a fixed 1% rate using Mezo’s Bitcoin-backed stablecoin, MUSD, according to Wednesday’s announcement. 

The integration also adds short-term yield tools. Clients will be able to lock Bitcoin for a period of six to 30 days and receive veBTC. This tokenized position shares onchain network fees and offers higher rewards for longer commitments, along with governance rights over Mezo’s fee structure and economics.

Matt Luongo, CEO of Thesis and co-founder of Mezo, said:

“Mezo is realizing Hal Finney's vision for a Bitcoin banking experience that issues its own digital currency backed by Bitcoin, acting as banks did before they became nationalized.”Mezo is a Bitcoin-native finance protocol that lets users borrow, save and earn yield through onchain tools powered by MUSD. It was built by Thesis, a Bitcoin venture studio founded in 2014 that builds decentralized products and infrastructure.

Bitcoin-backed borrowing surges Bitcoin-backed borrowing has gained momentum in 2025, with a steady stream of new platforms and products emerging online. The trend is expected to grow sharply, with a February report from Osler, Hoskin & Harcourt estimating the market could surge to $45 billion by 2030.

Tether revealed yesterday that it has taken an undisclosed stake in Ledn, a Bitcoin-backed lending platform that offers consumer loans secured by crypto. In October, Ledn said it had originated $392 million in Bitcoin-backed loans during the third quarter of 2025.

In May, Cantor Fitzgerald teamed up with Maple Finance and FalconX to execute its first loan backed by Bitcoin, a move that underscored Wall Street’s growing push into crypto credit markets.

In July, Block Earner rolled out Bitcoin-backed home loans in Australia, providing buyers with a way to tap their BTC for up to half of a property’s value as housing prices continue to surge in the country.

Housing affordability index. Source: Chapman University reportMagazine: 2026 is the year of pragmatic privacy in crypto: Canton, Zcash and more