Market Signal Briefing

SummaryNvidia Corporation is poised for significant growth ahead of its Q3 ’26 earnings, supported by robust AI infrastructure demand and a strong industry position.Hyperscalers like Microsoft, Alphabet, and Amazon are driving record capital outlays for compute capacity, reinforcing NVDA’s durable growth trajectory despite some competition from custom chips.NVDA’s dominance in both the U.S. and China is bolstered by licensing wins and technical challenges faced by Chinese competitors, supporting optimistic revenue forecasts for eFY27.I reiterate a Strong Buy rating on NVDA with a $351/share target, due to resilient demand, refresh cycles, and continued AI data center expansion as key catalysts.Analyst’s Disclosure:I/we have a beneficial long position in the shares of NVDA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Key Takeaways FIS says traditional banks are best positioned to drive mainstream stablecoin adoption.Nearly 75% of consumers would try digital currency if offered by their primary bank.FIS trades at a forward P/E of 10.65X, below the industry average, with 2025 EPS growth expected.
Fidelity National Information Services, Inc. (FIS - Free Report) has released new research suggesting that traditional banks are best placed to drive stablecoin adoption. The report highlights that consumer trust in banks and their regulatory oversight could make them the natural bridge between digital currencies and mainstream finance. The research suggests that banks could leverage “tokenized deposits” to meet demand for faster, cheaper and always-on payment services without sacrificing trust or safety.

According to the survey of 1,000 U.S. consumers, almost 74.8% are willing to try a digital currency if offered by their primary bank, while only 3.6% said the same about unregulated providers. Payment frustrations are widespread, with 67.6% reported issues in the past six months: 41.9% cited slow online purchase processing, 35.3% high fees on money transfers and 30.2% card declines.

As such, trust and regulation are expected to play a key role in adoption. Around 42.4% cited security concerns and 42% are concerned about value volatility, which can be addressed through more stablecoin-related education.

About 77.4% of participants want stablecoins regulated like existing payment systems, while 66.3% said FDIC-style insurance would boost confidence.Nearly 52.7% of respondents would only seriously consider using stablecoins if at least 50% of merchants accepted digital currency, indicating that network effects matter.

Interestingly, only 11.9% viewed international money transfers as a primary use case, despite its rising popularity among payment giants like Visa Inc. (V - Free Report) and Mastercard Incorporated (MA - Free Report) . Instead, peer-to-peer transfers (45.1%) and online shopping (44.3%) emerged as the top potential drivers of adoption.

How Are Visa & Mastercard Incorporating Stablecoins?Visa recently launched a pilot program allowing instant payouts in USD-backed stablecoins, like USDC, through its Visa Direct platform. The initiative allows creators and gig workers to receive their earnings in digital currency directly to their crypto wallets.In April 2025, Mastercard unveiled its end-to-end capabilities for stablecoin transactions. It has joined the Global Dollar Network, a Paxos-led stablecoin consortium, which allows Mastercard partners to mint, redeem and distribute USDG under that network.

FIS’ Price Performance, Valuation and EstimatesShares of FIS have declined 18% year to date, underperforming the broader industry and the S&P 500 Index.

FIS YTD Price Performance Image Source: Zacks Investment Research

From a valuation standpoint, FIS trades at a forward price-to-earnings ratio of 10.65X, down from the industry average of 21.91X. FIS carries a Value Score of B.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for FIS’ 2025 earnings implies a 10.5% rise year over year, followed by 9% growth next year.

Image Source: Zacks Investment Research

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

FORT WORTH, Texas, Nov. 13, 2025 (GLOBE NEWSWIRE) -- SEGG Media Corporation (Nasdaq: SEGG, LTRYW) (“SEGG Media” or “the Company”) today announces it has signed a binding Letter of Intent (the “LOI”) to acquire Triggy.AI (“Triggy”), an artificial intelligence technology company specializing in dynamic ad‑revenue formats and gamified engagement solutions. The proposed acquisition is scheduled to close on or before November 28 and will represent a significant advancement in SEGG Media’s technology capabilities to strengthen recurring revenue, deepen audience engagement and scale monetization across its global digital ecosystem.

Founded more than five years ago by experienced gaming and sports‑technology entrepreneurs, Triggy has developed an advanced AI engine used by multiple international brands that drives engagement and advertising optimization for several international brands. Its proprietary platform delivers personalized, real‑time user interactions that increase dwell time, engagement, and conversion which contribute to predictable monthly recurring revenue from enterprise clients.

Integrating Triggy’s technology across SEGG Media’s portfolio, including flagship brands Sports.com, Lottery.com and Concerts.com, will strengthen the Company’s ability to deliver next-generation content formats, data‑driven advertising, and immersive fan experiences at scale.

Tim Scoffham, CEO of Sports.com Media Group and Lottery.com International, said:

“Dynamic and adaptive technology is essential to the future of SEGG Media. Adding Triggy enhances our ability to deliver responsive and personalized user experiences while equipping our partners with powerful monetization tools. This marks another major step in how we leverage AI to differentiate our digital ecosystem and unlock new revenue streams.”

Stefen Thurnberg, Founding Partner of Triggy, added:

“This is an exciting milestone for Triggy. Joining SEGG Media will give us the scale, reach, and strategic support to accelerate the evolution and impact of our technology across multiple global brands.”

Matt McGahan, President, CEO, and Chairman of SEGG Media, said:

“Artificial intelligence sits at the heart of SEGG Media’s long‑term strategy. Embedding AI into our core operations ensures we remain globally competitive, technologically differentiated, and focused on sustained shareholder value. Acquiring Triggy reinforces our commitment to investing in advanced technology that drives both innovation and profitability.”

The acquisition of Triggy will strengthen SEGG Media’s position at the intersection of sports, gaming, and entertainment technology. Triggy’s platform will serve as a foundational revenue engine powering higher CPMs, deeper user engagement, scalable SaaS-style recurring revenue, and cross-platform monetization opportunities across Sports.com, Concerts.com and Lottery.com.

About Triggy.AI

Triggy develops intelligent engagement and monetization tools for the sports and gaming industries. Its proprietary platform enables brands to drive audience participation and advertising performance through gamified content and adaptive interaction models.

About SEGG Media Corporation

SEGG Media (Nasdaq: SEGG, LTRYW) is a global sports, entertainment and gaming group integrating traditional assets with blockchain innovation. Through its portfolio of digital assets including Sports.com, Concerts.com and Lottery.com, the Company is focused on building immersive fan engagement, ethical gaming and AI-driven live experiences, SEGG Media is redefining how global audiences interact with the content they love.

For additional information, visit www.seggmediacorp.com.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to: the Company’s ability to secure additional capital resources; the Company’s ability to continue as a going concern; the Company’s ability to complete acquisitions; the Company’s ability to remain in compliance with Nasdaq Listing Rules; and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.

This press release was published by a CLEAR® Verified individual.

Key Takeaways New York, NY, November 13, 2025 – PRISM MediaWire (Press Release Service – Press Release Distribution) – Creatd, Inc. (OTCQB: CRTD) (“Creatd” or the “Company”) today announced that, as part of its strategic initiative to uplist to a national securities exchange, the Company has engaged Dawson James Securities, Inc.

NEXE Innovations Inc (TSX-V:NEXE, OTC:NEXNF) reported the successful delivery of more than 300,000 BPI-certified compostable coffee pods to its partner, Bridgehead Coffee, as part of the previously announced purchase order of 1.2 million pods supporting Bridgehead’s planned rollout in Costco stores across Ontario. 

The compostable and innovative materials company said it is the first partial delivery of the NEXE BPI-certified compostable coffee pods under the previously announced purchase order for Bridgehead’s planned Costco launch.  

“We believe this delivery demonstrates our ability to execute large-scale production and deliver fully compostable pods that meet the needs of our retail partners,” NEXE Innovations president Ash Guglani said in a statement.  

“We look forward to continuing to support Bridgehead as the rollout progresses.” 

The company noted that the delivery reflects NEXE’s continued commitment to meeting commercial demand and advancing sustainable packaging solutions at scale. 

November 13, 2025 9:35 AM EST | Source: Onyx Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - November 13, 2025) - Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF) ("Onyx" or the "Company") is pleased to announce a fully-funded 50,000-meter ("m") phase three expansion to the diamond drill program (the "Program") at its 100%-owned Munro-Croesus Project ("Munro-Croesus" or the "Project"), located 75 kilometers east of Timmins, Ontario (Figure 3).

The new 50,000-meter program, budgeted at $11 million and utilizing three drill rigs, follows a successfully completed 25,000 m campaign, (81 holes-36 reported to date). This marks the largest drill program in the property's history and one of the most significant ongoing exploration programs in the Timmins Gold Camp. With a strong cash position of approximately $31.4 million, Onyx is well positioned to continue unlocking the exceptional district-scale potential of the Munro-Croesus Project.

Summary of Corporate and Exploration Activities Completed to Date

Raised $41.6 million in 2025, through a combination of non-brokered and bought-deal private placements (see Company news releases dated May 22, June 6, October 2, and October 15, 2025).Two diamond drill rigs have been active since early May at the Argus North Zone, on the large 109 km2 Munro-Croesus Project, approximately two kilometres north of Highway 101 (Figure 3).Successfully completed the previously announced 25,000 m drill program, totaling 81 holes (see Company news release dated July 23, 2025). Results from 45 drill holes remain pending.Reported assay results for 36 drill holes to date (see Company news releases dated June 26, 2025, July 23, 2025, September 3, October 7, and October 22, 2205) and significant highlights include:69.6 m grading 3.4 g/t Au, in discovery hole MC24-163, including 34.5 m grading 5.4 g/t Au and 9.5 m grading 13.9 g/t Au91.0 m grading 1.8 g/t Au, in hole MC25-168, including32.0 m grading 4.0 g/t Au and 17.0 m grading 5.3 g/t Au59.7 m grading 2.5 g/t Au, in hole MC25-171, including 18.7 m grading 5.2 g/t Au52.2 m grading 2.2 g/t Au, in hole MC25-178, including5.2 m grading 5.1 g/t Au, AND 61.3 m grading 1.5 g/t Au, in hole MC25-178, including6.6 m grading 4.2 g/t Au66.8 m grading 1.4 g/t Au, in hole MC25-179, including4.0 m grading 6.6 g/t Au50.4 m grading 1.9 g/t Au starting at 6.1 m downhole, in hole MC25-180, including4.0 m grading 5.9 g/t Au91.0 m grading 1.1 g/t Au, in hole MC25-177, including4.0 m grading 4.6 g/t Au, AND 103.4 m grading 1.1 g/t Au, in hole MC25-177, including38.4 m grading 2.4 g/t Au139.1 m grading 0.8 g/t Au, in hole MC25-181, including 6.9 m grading 4.3 g/t Au99.5 m grading 1.5 g/t Au, in hole MC25-195, including 17.0 m grading 3.3 g/t Au71.0 m grading 1.3 g/t Au, in hole MC25-197, including8.3 m grading 3.9 g/t Au60.8 m grading 1.2 g/t Au, in hole MC25-200, including3.0 m grading 5.9 g/t AuStep-out drilling at Argus North continues to deliver broad zones of strong gold mineralization - 50 to over 100 metres thick, averaging more than 1 g/t au with consistent higher-grade intervals. Drilling has now traced the zone for over 100 metres along strike and from surface to depths exceeding 350 metres, with mineralization remaining open in all directions, highlighting significant expansion potential.These broad gold intercepts, combined with strong high-grade cores, compare favorably to other major deposits in the Timmins Camp, underscoring Argus North's potential as a material new gold discovery in the district.The exploration team is using advanced tools to analyze drill core in real time - studying rock structures and geochemistry to better understand how the gold is oriented and where higher-grade zones may extend.In July/August, the Company completed a mechanical stripping and sampling program near the collar of hole MC25-180 to expose the Argus North mineralization at surface. Continuous channel sampling returned strong results including 21.2 m grading 2.0 g/t Au and 15.4 m grading 2.2 g/t Au (see Company news release dated October 7, 2025). "This 50,000-metre program marks an important milestone for Onyx and underscores the exceptional potential we see at Munro-Croesus," said Brock Colterjohn, President & CEO of Onyx Gold. "Argus North has consistently delivered wide, continuous zones of gold mineralization that compare favourably to the best emerging discoveries in the Abitibi. With three rigs turning and more than $31 million in the treasury, we can execute this expanded program without dilution while maintaining flexibility to scale further as results warrant. This next phase will deepen our understanding of Argus North, test multiple kilometres of the underexplored Pipestone Fault and advance several high-priority targets across the very large property. We believe Munro-Croesus has the potential to become a cornerstone gold project within one of Canada's most prolific mining districts."

Summary of Exploration Activities Planned for Remainder of Q4-2025 and H2-2026

With approximately $31.4 million in cash, Onyx remains fully funded for all 2025-2026 exploration programs.The step-out drilling, detailed trench mapping and surface sampling completed at Argus North since May 2025 has resulted in a clearer understanding of the potential controls on gold mineralization including:the importance of the permissive mafic variolitic volcanic stratigraphy, proximal to the regional, camp-wide Pipestone Fault; the use of topographic and magnetic data to predict disruption, to that host horizon;the identification of key northeast trending structures and structural-geophysical-geochemical corridors (Figure 1);the presence of feldspar porphyry intrusions acting as fluid barriers and a minor host to gold mineralization; and, most importantly, the recognition of a variety of breccias (hyaloclastic, crackle, jigsaw, and polylithic) which provide permeability for fluid migration and gold accumulation. The new phase three 50,000 m Program at Munro-Croesus will utilize three drill rigs allocated as follows (see Figures 1 & 2):~36,000 m allocated to testing a three km trend of underexplored mafic variolitic basalts - the same unit that hosts the Argus Main and Argus North Zones. Key objectives of this drilling include: Expand Argus North along strike & plunge Test fault-offset blocks west of Argus NorthDrill along the Pipestone Fault for new high-grade plunge zones and bulk targets, including targets across quartz-feldspar porphyry intrusions in Porcupine sediments similar to neighbouring deposits such as Fenn-Gib.Drill test Argus West Drill Southeast of Argus Main on anomalous stratigraphyEvaluate and expand mineralization in Porcupine sediments along key structures~4,500 m will focus on extending GM Vein & Croesus Flow shoots onto the newly acquired Munro Mine ground~1,500 m testing Lalonde quartz-carbonate vein targets with known gold showings~2,5000 m will focus on testing the Flipper Zone where historical drilling returned broad zones of mineralization hosted within the Porcupine Sediments, including 42.6 m grading 1.0 g/t and 28.8 m grading 1.3 g/t Au, including 1.5 m grading 10.8 g/t Au

Figure 1 - Plan Map Highlighting Argus North Zone and Exploration Targets 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9800/274341_de3e71cd14814aff_001full.jpg

Figure 2 - Longitudinal Section highlighting Argus North Zone and Exploration Targets

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9800/274341_de3e71cd14814aff_002full.jpg

Figure 3 - Location of the Munro-Croesus Gold Project, Ontario

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9800/274341_de3e71cd14814aff_003full.jpg

Stock Options Granted

The Company announces the issuance of 300,000 stock options with an exercise price of $1.18 per share for the purchase of up to 300,000 shares of the Company. A 100,000-option portion of the stock options were granted to Chad Levesque Consulting, pursuant to the terms of an Investor Relations consulting agreement announced by the Company on June 24, 2015.

The Munro-Croesus Project

The Munro-Croesus Project is located along Highway 101 in the heart of the Abitibi greenstone belt, Canada's premier gold mining jurisdiction (Figure 3). This large, 100% owned land package includes the past-producing Croesus Gold Mine, which yielded some of the highest-grade gold ever mined in Ontario. Extensive land consolidation from 2020-2025 has unified the patchwork of patented and unpatented mining claims surrounding the Croesus Gold Mine into one coherent package and enhanced the project's exploration potential.

The Project covers 109 km2 of highly prospective geology within the influence of major gold-bearing structural breaks. Bulk-tonnage gold deposits located in the immediate region include the Fenn-Gib gold project being developed by Mayfair Gold Corp., and the Tower Gold Project being developed by STLLR Gold Inc.

About Onyx Gold

Onyx Gold Corp. is a Canadian exploration company focused on unlocking district-scale gold opportunities in two of the country's most prolific and proven mining jurisdictions - Timmins, Ontario, and Yukon Territory.

In the Timmins Gold Camp, Onyx controls an extensive portfolio anchored by the Munro-Croesus Property, host to the historic high-grade Croesus Mine and site of the Company's recent Argus North discovery - one of the most exciting new gold zones emerging in the camp. Complementing Munro-Croesus are two large, early-stage projects - Golden Mile, a 140 km² property situated just 9 km from Newmont's multi-million-ounce Hoyle Pond Mine, and Timmins South, a 187 km² land package strategically positioned around the Shaw Dome structure, offering exceptional discovery potential.

Beyond Ontario, Onyx holds a commanding land position across four properties in Yukon's Selwyn Basin, an area rapidly gaining recognition for new gold discoveries and growing exploration investment. The Company's King Tut Property sits approximately 50km south of Snowline Gold's Valley discovery and adjacent to Fireweed Metals's MacPass property.

Led by an experienced team with a strong track record of discovery, development, and value creation, Onyx Gold (TSXV: ONYX) (OTCQB: ONXGF) is well funded and committed to delivering shareholder value through disciplined exploration, strategic growth, and responsible resource development.

On Behalf of Onyx Gold Corp.

"Brock Colterjohn"
President & CEO

Additional Notes:

The Company maintains a robust QA/QC program that includes the collection and analysis of duplicate samples and the insertion of blanks and standards (certified reference material).

Ian Cunningham-Dunlop, P.Eng., Executive Vice President for Onyx Gold Corp. and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

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.

Fenn-Gib Gold Project and Tower Gold Project mineral resources compiled from public sources and are provided for general information purposes. Readers are cautioned that the Company has no interest in or right to acquire any interest in adjacent properties and they are not indicative of mineral deposits on the Company's properties or any potential exploration thereof. Cautionary and Forward-Looking Statements

Forward-looking statements include predictions, projections, and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the potential significance of results from the new Argus North discovery are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital, and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials, and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274341

TORONTO, ON / ACCESS Newswire / November 13, 2025 / Lahontan Gold Corp. (TSXV:LG)(OTCQB:LGCXF)(FSE:Y2F) (the "Company" or "Lahontan") is pleased to announce that the Federal Bureau of Land Management ("BLM") has published its Decision Record ("DR"), Finding of No Significant Impact ("FONSI"), and approval of the Company's Exploration Plan of Operations ("EPOO") for the Santa Fe Mine project, on the BLM's website: https://eplanning.blm.gov/eplanning-ui/home. This decision concludes the National Environmental Policy Act ("NEPA") Environmental Assessment ("EA") process and authorizes Lahontan to move forward with its greatly expanded exploration drilling and mine development program at Santa Fe.

The recently approved Exploration Plan of Operations ("EPOO") allows Lahontan to conduct exploration drilling across a 12.2 km² area of the Santa Fe Mine project, enabling the Company to test multiple new targets, well beyond the currently defined gold and silver resources (see map below)*. Previous Lahontan drilling programs focused on validating historical drill results, defining and expanding resources adjacent to the past-producing open pits, and collecting data to support detailed mine planning and scheduling.

With the EPOO in place, Lahontan can now initiate true exploration programs across the broader project area. The EPOO encompasses over 700 permitted drill holes targeting well-defined geologic and geochemical anomalies, as well as previously drilled areas that returned significant gold and silver intercepts that require follow-up drilling. Priority targets include the Pinnacles area, hosted in a similar geologic setting to Fortitude Gold's nearby Isabella Pearl Mine, as well as important historic drilling at the Guzzler target south of the Santa Fe open pit, along with multiple untested zones between the known resource areas at Santa Fe (see map below).

Map of the recently approved EPOO for Santa Fe. The yellow shading outlines the area included in the EPOO, dark red indicates the historic pits including the Isabella Pearl pit west of the project boundary, the red lines shows the surface projection of known gold and silver resources*.Kimberly Ann, Lahontan Gold Corp. Executive Chair, Founder, CEO, and President commented: "Receiving approval of the Santa Fe Mine project EPOO represents a landmark milestone for Lahontan. Until now, the Company's exploration activities were limited to a five-acre disturbance area, significantly restricting its ability to step out from known resources and fully assess the exploration potential of the Santa Fe Mine Project. With the approval of the EPOO, Lahontan can now explore a 12.2 km² area encompassing multiple well-defined geological and geochemical targets located between and adjacent to existing gold and silver resources. The expanded permit area also allows for drill testing of the historical heap leach pads, which may contain remnant mineralization of potential economic interest. This approval positions the Company to evaluate the broader gold and silver endowment of the Santa Fe Mine project and to unlock the full potential of its strategic land position in Nevada's Walker Lane. Lahontan would also like to thank the staff of the Carson City office of the BLM for their efficient and timely completion of the EPOO."

Map of exploration targets at the Santa Fe Mine Project.About Lahontan Gold Corp.

Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 28.3 km2 Santa Fe Mine project, had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing. The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq(48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report and note below*). The Company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. For more information, please visit our website: www.lahontangoldcorp.com

* Please see the "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project", Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company's website and SEDAR+. Mineral resources are reported using a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 g/t AuEq for non-oxide resources. AuEq for the purpose of cut-off grade and reporting the Mineral Resources is based on the following assumptions gold price of US$1,950/oz gold, silver price of US$23.50/oz silver, and oxide gold recoveries ranging from 28% to 79%, oxide silver recoveries ranging from 8% to 30%, and non-oxide gold and silver recoveries of 71%.

Qualified Person

Brian J. Maher, M.Sc., CPG-12342, is a "Qualified Person" as defined under Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release in respect of all technical disclosure other than the Mineral Resource Estimate as noted above.‎ Mr. Maher is Vice President-Exploration for Lahontan Gold and has verified the data disclosed in this news release, including the sampling, ‎‎analytical and test data underlying the disclosure.

On behalf of the Board of Directors

Kimberly Ann

Founder, CEO, President, and Director

FOR FURTHER INFORMATION, PLEASE CONTACT:

Lahontan Gold Corp.

Kimberly Ann
Founder, Chief Executive Officer, President, Director
Phone: 1-530-414-4400

Email:
[email protected]

Website: www.lahontangoldcorp.com

Cautionary Note Regarding Forward-Looking Statements:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com

SOURCE: Lahontan Gold Corp

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Key Takeaways Chord Energy posted Q3 adjusted earnings of $2.35 per share, beating the consensus estimate.Revenue of $1.31B exceeded expectations but declined from $1.45B in the prior-year period.Total output held steady at 280.9 MBoE/D as lower oil volumes offset stronger natural gas pricing.
Chord Energy Corporation (CHRD - Free Report) gained a marginal 0.7% since reporting better-than-expected third-quarter 2025 results on Nov. 4. Lower operating costs and favorable oil equivalent production probably backed the outperformance.

The exploration and production player reported third-quarter adjusted earnings of $2.35 per share, which beat the Zacks Consensus Estimate of $2.24. The bottom line, however, declined from the year-ago quarter’s level of $3.40.

Total quarterly revenues of $1,312.1 million beat the Zacks Consensus Estimate of $993.8 million. However, the top line decreased from the prior-year level of $1,450.5 million.

We’re now nearing the close of the earnings season, with energy giants like Exxon Mobil Corporation (XOM - Free Report) and Chevron Corporation (CVX - Free Report) already having reported. Both ExxonMobil and Chevron topped the Zacks Consensus Estimate for earnings. For more details, read our blogs: ExxonMobil Beats Q3 Earnings Estimates, Boosts Dividend Again & Chevron Q3 Earnings Beat Estimates as Production Hits Record.

Overall ProductionCHRD’s total production in the third quarter was 280.9 thousand barrels of oil equivalent per day (MBoE/D), almost in line with the 280.8 MBoE/D recorded a year ago.

Oil production (accounting for 55.4% of the total production) in the quarter amounted to 155.7 thousand barrels per day (MBbl/D), down from 158.8 MBbl/D registered in the year-ago period.

Natural gas production was 420.1 million cubic feet per day MMcf/D, down from 421.8 MMcf/D recorded a year ago.

Realized Prices (Excluding Derivative Realized)Average sales prices for natural gas increased to 81 cents per Mcf from 44 cents recorded a year ago.

The company’s oil price realization in the quarter was $63.59 per barrel (Bbl), lower than $73.51 a year ago.

Operating ExpensesTotal operating expenses decreased to $1,140.9 million from $1,174.6 million in the year-ago period.

Notably, lease operating costs were $248.6 million, up from $247.1 million recorded in the year-ago quarter. The purchased oil and gas expenses were $340.9 million, higher than the prior-year recorded figure of $329.6 million.

Capex & FinancialsIn the third quarter, Chord Energy spent $333.7 million on exploration & production and other operations. As of Sept. 30, 2025, CHRD had a total debt of $1.5 billion.

OutlookChord Energy’s production guidance for 2025 is in the band of 275.6 MBoE/D to 278.1 MBoE/D. For the December quarter, CHRD expects production in the band of 268.7 MBoE/D to 278.7 MBoE/D.

Moreover, the company, currently carrying a Zacks Rank #4 (Sell), projects full-year oil production of 153.8-154.8 MBbl/D. For the fourth quarter, CHRD expects oil production in the range of 149 MBbl/D to 153 MBbl/D. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

November 13, 2025 8:30 AM EST | Source: Maritime Resources Corp.
Vancouver, British Columbia--(Newsfile Corp. - November 13, 2025) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) ("New Found Gold" or the "Company") and Maritime Resources Corp. ( "Maritime Resources") (TSXV: MAE) are pleased to announce that they have closed their previously announced transaction whereby New Found Gold has acquired all of the issued and outstanding shares of Maritime Resources (the "Maritime Shares"), that it does not already own, by way of a statutory plan of arrangement pursuant to Division 5 of Part 9 of the Business Corporations Act (British Columbia) (the "Transaction").

In connection with the completion of the Transaction, Allen Palmiere joined the board of directors of New Found Gold (the "Board") and Melissa Render, President of New Found Gold resigned from the Board. All the directors and officers of Maritime Resources resigned from their positions.

Keith Boyle, Chief Executive Officer and Director of New Found Gold, stated: "In less than a year, New Found Gold has transformed from an early-stage exploration company to an emerging Canadian gold producer with camp-scale exploration potential. Today we see two high-quality assets, the Queensway Gold Project and the Hammerdown Gold Project, located in a Tier 1 jurisdiction with strong synergies, come together at a time of highly favourable gold prices. Under the guidance of an experienced new Board, the Company's management team of mine builders and operators are focused on the path to production and continuing to deliver shareholder value."

"The combined Company is now producing gold; we could not have gotten to this point without the support of our local communities. For this we give our thanks and look forward to continuing this journey with you," continued Mr. Boyle.

Paul Andre Huet, Chairman of New Found Gold, stated: "I am pleased to welcome Allen Palmiere to the Board. Allen brings a depth of operational, management and finance experience to the Company and his expertise on the Maritime Resources assets is of great value. On behalf of the Board and the entire company, I would also like to thank our President, Melissa Render for her service on the Board."

Garett Macdonald, President and CEO of Maritime Resources, stated: "We are pleased with the completion of the business combination and are excited for New Found Gold as it grows into Canada's newest mid-tier gold producer. I would like to recognize the efforts of Maritime's team who demonstrated determination and creativity to develop the Hammerdown Gold Project, as well as the solid support of our shareholders, local communities and the Province of Newfoundland and Labrador these past few years."

Under the terms of the arrangement agreement entered into by New Found Gold and Maritime Resources on September 4, 2025, each holder of Maritime Shares received 0.75 of a New Found Gold common share (each whole share, a "New Found Gold Share") in exchange for each Maritime Share (the "Exchange Ratio"). Immediately upon completion of the Transaction, existing New Found Gold shareholders and former Maritime Resources shareholders held approximately 69% and 31%, respectively, of the pro forma company on a fully-diluted in-the-money basis and Maritime Resources became a wholly-owned subsidiary of New Found Gold. New Found Gold will apply for Maritime Resources to cease to be a reporting issuer under applicable Canadian securities laws and the Maritime Shares will be delisted from the TSX Venture Exchange ("TSXV").

In accordance with the plan of arrangement, each option to purchase Maritime Shares (each, a "Maritime Option") was cancelled and exchanged for a replacement option to acquire from New Found Gold such number of New Found Gold Shares equal to the product of: (A) that number of Maritime Shares that were issuable upon exercise of such Maritime Option immediately prior to the effective time of the Transaction (the "Effective Time") and (B) the Exchange Ratio, at an exercise price per New Found Gold Share equal to the quotient determined by dividing: (X) exercise price per Maritime Share at which such Maritime Option was exercisable immediately prior to the Effective Time, by (Y) the Exchange Ratio. Pursuant to the plan of arrangement, each outstanding Maritime Share purchase warrant became exercisable for New Found Gold Shares issuable on exercise and adjusted in accordance with the Exchange Ratio.

In order to receive the New Found Gold Shares in exchange for their Maritime Shares, registered Maritime Resources shareholders must complete, sign, date and return the Letter of Transmittal that was mailed to each registered Maritime Resources shareholder. The Letter of Transmittal is also available from Maritime Resources' depositary, Computershare Investor Services Inc., and online under Maritime Resources' issuer profile on SEDAR+ at www.sedarplus.ca. Non-registered Maritime Resources shareholders whose Maritime Shares are registered in the name of a broker, investment dealer, bank, trust company, trustee or other intermediary or nominee should contact that intermediary or nominee for assistance in depositing their Maritime Shares and should follow the instructions of such intermediary or nominee in order to deposit their Maritime Shares.

Further information about the Transaction is set out in Maritime Resources' management information circular dated October 1, 2025, which can be accessed online under Maritime Resources' issuer profile on SEDAR+ at www.sedarplus.ca.

Blake, Cassels & Graydon LLP acted as legal counsel to New Found Gold with respect to the Transaction. BMO Capital Markets acted as financial advisor to New Found Gold. Osler, Hoskin & Harcourt LLP acted as legal counsel to Maritime Resources with respect to the Transaction. SCP Resource Finance LP and Canaccord Genuity Corp. acted as financial advisors to the board of directors of Maritime Resources.

Allen Palmiere - Independent Director

Mr. Palmiere, a Chartered Accountant-Chartered Public Accountant by training, has over 40 years of experience in the mining industry both from a financial and operational perspective. His international experience includes South Africa, Central America, Guyana Brazil and China. Mr. Palmiere's expertise includes operations, executive management and financing, both debt and equity. Additionally, Mr. Palmiere has extensive experience in mergers and acquisitions. Mr. Palmiere's former executive positions include CEO and Chairman of the Board, HudBay Minerals Inc., Executive Chairman, Barplats Investments Ltd., Vice President, CFO, Zemex Corporation, and President and CEO, Breakwater Resources Ltd. Mr. Palmiere has also served as a director of numerous public companies. Mr. Palmiere is currently the CEO, President and a Director of Gold Resource Corporation.

Shares for Debt Transaction

The Company is pleased to announce that it has entered into a debt settlement agreement (the "Settlement Agreement") with SCP Resource Finance LLP ("SCP") to settle an aggregate amount of $3,276,712 in outstanding debt, rounded down to the nearest whole number of shares, related to the fees incurred by Maritime Resources pursuant to the terms of the letter agreement with SCP dated March 20, 2024, as amended on August 8, 2025, whereby SCP was appointed as financial advisor in connection with strategic matters related to any financing or a transaction resulting in the sale of Maritime Resources.

Pursuant to the terms of the Settlement Agreement, the Company has agreed to issue 1,085,003 New Found Gold Shares (the "Settlement Shares") at a deemed issue price of $3.02 per Settlement Share, based on the closing price of the New Found Gold Shares on the TSXV on November 12, 2025 (the "Shares for Debt Transaction"). The Board of New Found Gold has determined that the Shares for Debt Transaction is in the best interests of the Company.

Closing of the Shares for Debt Transaction is subject to customary closing conditions, including the approval of the TSXV and authorization of the NYSE American. The Settlement Shares to be issued pursuant to the Shares for Debt Transaction will be subject to a hold period of four months and one day following the date of issuance, in accordance with the applicable securities laws and TSXV policies.

About New Found Gold Corp.

New Found Gold is a well-financed advanced-stage exploration and development company that holds a 100% interest in the Queensway Gold Project ("Queensway"), as well as the recently acquired Maritime Division, where the Company is focused on bringing the Hammerdown Gold Project ("Hammerdown") into steady-state gold production. The Maritime Division includes Hammerdown, where it holds a 100% interest directly and subject to option agreements entitling it to earn 100% ownership in the Green Bay Property, which includes the former Hammerdown gold mine and the Orion gold project. The Maritime Division controls over 43,900 hectares of exploration land including the Green Bay, Whisker Valley, Gull Ridge and Point Rousse projects. Mineral processing assets in the Baie Verte mining district include the Pine Cove mill and the Nugget Pond Hydrometallurgical Gold Plant gold circuit.

The Company has completed a PEA at Queensway (see New Found Gold news release dated July 21, 2025). Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential of the Project that covers a +110 km strike extent along two prospective fault zones. On September 8, 2025, the Company announced it had entered into a property purchase agreement with Exploits Discovery Corp. ("Exploits") that would provide New Found Gold with a 100% interest in certain mineral claims in Newfoundland and Labrador held by Exploits (the "Claims") (see news release dated September 8, 2025). The Claims adjoin Queensway and would increase the size of Queensway by up to 33%, to a total of 234,050 hectares.

The Company's assets are located in Newfoundland and Labrador, Canada, a Tier 1 jurisdiction with excellent infrastructure and a skilled local workforce.

New Found Gold has a new Board and management team, a strong treasury and a solid shareholder base which includes cornerstone investor Eric Sprott. The Company is focused on growth and value creation.

New Found Gold Corp.
Per: "Keith Boyle"
Keith Boyle, Chief Executive Officer

Qualified Persons

The scientific and technical information disclosed in this press release related to Queensway was reviewed and approved by Melissa Render, P. Geo., President, and a Qualified Person as defined under National Instrument 43-101. Ms. Render consents to the publication of this press release by New Found Gold. Ms. Render certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.

The scientific and technical information disclosed in this press release related to the Maritime Division was reviewed and approved by Keith Boyle, P. Eng., CEO, and a Qualified Person as defined under National Instrument 43-101. Mr. Boyle consents to the publication of this press release by New Found Gold. Mr. Boyle certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.

Contact

For further information on New Found Gold, please visit New Found Gold's website at www.newfoundgold.ca, contact us through our investor inquiry form at https://newfoundgold.ca/contact/ or contact:

Fiona Childe, Ph.D., P.Geo.
Vice President, Communications and Corporate Development
Phone: +1 (416) 910-4653
Email: [email protected]

Neither the TSXV nor its Regulatory Services Provider (as that term is defined in the policies of the TSXV) nor the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward-Looking Information

This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements relating to the Transaction and the Shares for Debt Transaction and statements relating to assessments of and expectations for the combined company including production of gold and the timing thereof; assessments and expectations for Hammerdown Gold Project and Queensway Gold Project, including the timing thereof; New Found Gold's plans to apply for Maritime to cease to be a reporting issuer; the delisting of Maritime Shares and the treatment of the Maritime Options and warrants; and closing of the Shares for Debt Transaction, including receipt of TSXV and NYSE American approvals, and the timing thereof. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "interpreted", "intends", "estimates", "projects", "aims", "suggests", "indicate", "often", "target", "future", "likely", "pending", "potential", "encouraging", "goal", "objective", "prospective", "possibly", "preliminary", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSXV and NYSE American, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the Company's ability to complete exploration and drilling programs as expected, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results and the results of the metallurgical testing program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274316

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in NBIS, over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Gabelli Global Utility & Income Trust offers consistent 6.6% monthly yields and global utility sector exposure, appealing to income-focused investors. GLU currently trades near the high end of its price-to-NAV range, making it less attractive for new accumulation at this time. Despite reliable distributions and tax-advantaged payouts, GLU has underperformed peers like UTG and ERH in both price and total return.

Aegon Ltd. (AEG) Q3 2025 Sales Call November 13, 2025 3:00 AM EST

Company Participants

Yves Cormier - Head of Investor Relations
E. Friese - CEO, Chairman of Management Board & Executive Director
Duncan Russell - CFO & Member of Management Board

Conference Call Participants

David Barma - BofA Securities, Research Division
Iain Pearce - BNP Paribas, Research Division
Nasib Ahmed - UBS Investment Bank, Research Division
Jason Kalamboussis - ING Groep N.V., Research Division
Michele Ballatore - Keefe, Bruyette, & Woods, Inc., Research Division
Michael Huttner - Joh. Berenberg, Gossler & Co. KG, Research Division

Presentation

Operator

Good day, and thank you for standing by. Welcome to Aegon's Third Quarter 2025 Trading Update Conference Call. [Operator Instructions] Please note that today's conference is being recorded. I would now like to hand the conference over to your speaker, Yves Cormier, Head of Investor Relations. Please go ahead.

Yves Cormier
Head of Investor Relations

Thank you, operator, and good morning, everyone. I would like to welcome you to this call on Aegon's Third Quarter 2025 Trading Update. My name is Yves Cormier, Head of Investor Relations. Joining me today to take you through our progress are Aegon's CEO, Lard Friese; and CFO, Duncan Russell. Before we start, we would like to ask you to review our disclaimer on forward-looking statements, which you can find at the end of the presentation. With that, I would like to give the floor to Lard.

E. Friese
CEO, Chairman of Management Board & Executive Director

Thank you, Yves, and good morning, everyone. I will start today's presentation by running you through the strategic progress we're making and the commercial performance in the quarter. Then I will hand over to Duncan, who will address our capital results in more detail. So let me begin on Slide #2 with the key messages for the quarter. During the third quarter of 2025, we

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Poste Italiane S.p.A. (OTCPK:PITAF) Q3 2025 Earnings Call November 13, 2025 4:30 AM EST

Company Participants

Giuseppe Esposito - Head of Investor Relations
Matteo del Fante - CEO & Director
Camillo Greco - Chief Financial Officer

Conference Call Participants

Tommaso Nieddu - Kepler Cheuvreux, Research Division
Alberto Villa - Intermonte SIM S.p.A., Research Division
Gian Ferrari - Mediobanca - Banca di credito finanziario S.p.A., Research Division
Giovanni Razzoli - Deutsche Bank AG, Research Division
Andrea Lisi - Equita SIM S.p.A., Research Division
Daniel Wilson-Omordia - Morgan Stanley, Research Division
Michael Huttner - Joh. Berenberg, Gossler & Co. KG, Research Division

Presentation

Giuseppe Esposito
Head of Investor Relations

Good morning, everyone, and welcome to Poste Italiane Third Quarter and 9 Months 2025 Results Conference Call. Shortly, our CEO, Matteo Del Fante, will take you through some opening remarks, and then the CFO, Camillo Greco, will cover the financials.

As usual, the presentation will be followed by a Q&A session where you can ask questions either via phone or through our webcast platform. And for any topics we won't be able to cover today, please do contact the Investor Relations team. We will provide any clarifications you might require.

With that, over to you, Matteo.

Matteo del Fante
CEO & Director

Thank you, Giuseppe. Good morning, and thank you for joining us today for our Q3 and 9 months 2025 results call. As we celebrate 10 years since going public, we're proud to report another record-breaking quarter, reflecting sustained growth as we approach the end of 2025. The positive momentum established in the first half of the year has continued in the third quarter. We remain focused on executing our strategic plan, and we're fully on track to achieve our updated '25 guidance.

In the first 9 months, we delivered record results across group revenues, adjusted EBIT and net income. Each business

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MIAMI, Nov. 13, 2025 (GLOBE NEWSWIRE) -- Defiance ETFs is proud to announce the launch of the Defiance Daily Target 2X Short HOOD ETF (Ticker: HOOZ), expanding its family of innovative single-stock leveraged ETFs designed for sophisticated traders.

The new fund, HOOZ, seeks to deliver -200% of the daily percentage change in the share price of Robinhood Markets, Inc. (Nasdaq: HOOD), offering investors an instrument to express short-term bearish views on the financial services platform that disrupted traditional retail investing.

Investment Objective

The Defiance Daily Target 2X Short HOOD ETF (HOOZ) seeks daily inverse investment results, before fees and expenses, of -2 times (-200%) the daily percentage change in the share price of Robinhood Markets, Inc. (Nasdaq: HOOD). The Fund does not seek to achieve its stated objective for any period other than a single trading day.

Underlying Stock: Robinhood Markets, Inc.

Robinhood Markets, Inc. operates a popular financial services platform that provides commission-free trading in stocks, ETFs, and cryptocurrencies through its mobile app and website. The company’s mission is to democratize finance for all by providing access to markets for retail investors globally. Robinhood has been instrumental in changing how retail traders engage with the markets, promoting accessibility and ease of use for individual investors.

An investment in HOOZ is not an investment in Robinhood Markets, Inc.

The Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged inverse (-2X) investment results, understand the risks associated with the use of leverage, and are willing to monitor their portfolios frequently. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The Fund pursues daily leveraged investment objectives, which means it is riskier than alternatives that do not use leverage. The Fund magnifies the inverse performance of the Underlying Security and is designed strictly for short-term use. For periods longer than a single day, the Fund’s performance will be the result of compounded daily returns, which is very likely to differ from -200% of the return of HOOD over the same period. It is possible investors could lose their entire principal within a single trading day.

IMPORTANT DISCLOSURES

Defiance ETFs LLC is the ETF sponsor. The Fund’s investment adviser is Tidal Investments, LLC (“Tidal” or the “Adviser”).

The Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information about the investment company. Please read the prospectus and/or summary prospectus carefully before investing. Hard copies can be requested by calling 833.333.9383.

Investing involves risk. Principal loss is possible. As an ETF, the Fund may trade at a premium or discount to NAV. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. A portfolio concentrated in a single issuer or sector may be subject to a higher degree of risk. There is no guarantee the Fund’s strategy will be properly implemented, and an investor may lose some or all of their investment.

HOOD Price Appreciation Risk. As part of the Fund’s inverse investment strategy, the Fund enters into swap contracts and options contracts based on the share price of Robinhood Markets, Inc. (“HOOD”) common stock (the “Underlying Security”). This strategy subjects the Fund to certain of the same risks as if it shorted shares of the Underlying Security, even though it does not. By virtue of the Fund’s indirect -2X exposure to changes in the share price of the Underlying Security, the Fund is subject to the risk that the Underlying Security’s share price increases. If the share price of the Underlying Security increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks:

Indirect Investment in HOOD Risk. Robinhood Markets, Inc. is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates, and is not involved with this offering in any way. HOOD has no obligation to consider the Fund or its shareholders in taking any corporate actions that might affect the value of Fund shares.

HOOD Good Performance Risk. The market value of Robinhood Markets, Inc. may increase if the company meets or exceeds its publicly announced business expectations and may be further enhanced by favorable industry recognition, analyst coverage, upgrades, or positive forecasts that strengthen its reputation and credibility among investors.

Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment that diversifies risk or tracks the market generally. The value of the Fund, which focuses on an individual security, may fluctuate more sharply than a diversified investment or the market as a whole and may perform differently from such investments.

Compounding and Market Volatility Risk. The Fund’s performance for periods greater than a trading day will be the result of each day’s returns compounded over the period, which is likely to differ from -200% of the Underlying Security’s performance, before fees and expenses. Compounding has a significant impact on funds that are inverse leveraged and that rebalance daily.

Daily Correlation/Tracking Risk. There is no guarantee that the Fund will achieve a high degree of inverse correlation to the Underlying Security and therefore achieve its daily inverse investment objective.

Leverage Risk. The Fund will seek -2X inverse exposure through financial instruments, which exposes the Fund to the risk that an increase in the value of the Underlying Security will be magnified. Leverage increases the Fund’s volatility, and losses may be significantly greater than the Underlying Security’s gain on any given day.

Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in derivatives, which exposes the Fund to the risk that the counterparty will not fulfill its obligation to the Fund.

Derivatives Risk. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risks related to the market, leverage, imperfect daily correlations with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation, and legal restrictions.

Swap Agreements. The use of swap transactions is a highly specialized activity, which involves investment techniques and risks different from those associated with ordinary portfolio securities transactions. These risks may prevent the Fund from achieving its leveraged investment objective, even if the Underlying Security later reverses all or a portion of its movement.

Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including anticipated volatility, which may be affected by fiscal and monetary policies and national or international events. The value of the options contracts in which the Fund invests is substantially influenced by the value of the Underlying Security.

Fixed Income Securities Risk. When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by the Fund.

Rebalancing Risk. If for any reason the Fund is unable to rebalance all or a portion of its portfolio, or if all or a portion of the portfolio is rebalanced incorrectly, the Fund’s investment exposure may not be consistent with the Fund’s investment objective.

Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund. As a result, a decline in the value of an investment in a single issuer or a smaller number of issuers could cause the Fund’s overall value to decline to a greater degree than if the Fund held a more diversified portfolio.

High Portfolio Turnover Risk. Daily rebalancing of the Fund’s holdings pursuant to its daily investment objective causes a much greater number of portfolio transactions when compared to most ETFs.

Liquidity Risk. Some securities held by the Fund may be difficult to sell or be illiquid, particularly during times of market turmoil. Markets for securities or financial instruments could be disrupted by a number of events, including, but not limited to, an economic crisis, natural disasters, epidemics/pandemics, new legislation, or regulatory changes inside or outside the United States.

New Fund Risk. The Fund is a recently organized management investment company with a limited operating history. As a result, prospective investors have only a limited track record or history on which to base their investment decisions.

Diversification does not ensure a profit nor protect against loss in a declining market. Brokerage commissions may be charged on trades.

Distributed by Foreside Fund Services, LLC

Media Contact

Sylvia Jablonski
[email protected]
833.333.9383

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e927427b-fede-4fb5-9def-617adb25eba5

Defiance ETFs Launches HOOZ: the First 2X Short ETF of Robinhood Markets, Inc
Defiance ETFs is proud to announce the launch of the Defiance Daily Target 2X Short HOOD ETF (Ticker...

NEW YORK, Nov. 13, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against Stride, Inc. (NYSE: LRN) and certain of the Company’s senior executives for securities fraud after significant stock drops resulting from the potential violations of the federal securities laws.

If you invested in Stride, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/stride-inc-class-action-lawsuit.

Investors have until January 12, 2026, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Stride securities. The case is pending in the U.S. District Court for the Eastern District of Virginia and is captioned MacMahon v. Stride, Inc., et al., No. 1:25-cv- 02019.

Why is Stride Being Sued For Securities Fraud?

Stride is an education technology company that provides an online platform to students throughout the U.S. During the relevant period, Stride stated it was seeing “increasing growth in our business,” “in-year strength in demand” for its products and services, and that its customers and potential customers “continue to choose us in record numbers.”

As alleged, in truth, Stride had inflated enrollment numbers by retaining “ghost students,” ignored compliance requirements for its employees, and had “poor customer experience” that resulted in “higher withdrawal rates,” “lower conversion rates,” and had driven students away.

Why did Stride’s Stock Drop?

On September 14, 2025, a report stated that a complaint had been filed against Stride for fraud, deceptive trade practices, systemic violations of law, and intentional and tortious misconduct. It claimed Stride inflated enrollment numbers by retaining “ghost students” on rolls to secure state funding and ignored compliance requirements, including background checks and licensure laws for its employees. This news caused the price of Stride stock to drop $18.60 per share, or more than 11%, from a closing price of $158.36 per share on September 12, 2025, to $139.76 per share on September 15, 2025.

Then, on October 28, 2025, Stride admitted that “poor customer experience” resulted in “higher withdrawal rates,” “lower conversion rates,” and drove students away. Stride estimated the impact caused approximately 10,000-15,000 fewer enrollments and stated that, because of this, its outlook is “muted” compared to prior years. This news caused the price of Stride stock to drop $83.48 per share, or more than 54%, from a closing price of $153.53 per share on October 28, 2025, to $70.05 per share on October 29, 2025.

Click here for more information: https://www.bfalaw.com/cases/stride-inc-class-action-lawsuit.

What Can You Do?

If you invested in Stride you may have legal options and are encouraged to submit your information to the firm.

All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

Submit your information by visiting:

https://www.bfalaw.com/cases/stride-inc-class-action-lawsuit

Or contact:
Ross Shikowitz
[email protected]
212.789.3619

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.

https://www.bfalaw.com/cases/stride-inc-class-action-lawsuit

Attorney advertising. Past results do not guarantee future outcomes.

NEW YORK, Nov. 13, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against MoonLake Immunotherapeutics (NASDAQ: MLTX) and certain of the Company’s senior executives for potential violations of the federal securities laws.

If you invested in MoonLake, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/moonlake-immunotherapeutics-class-action-lawsuit.

Investors have until December 15, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in MoonLake common stock. The case is pending in the U.S. District Court for the Southern District of New York and is captioned Peters v. MoonLake Immunotherapeutics, et al., No. 1:25-cv-08612.

Why Was MoonLake Sued for Securities Fraud?

MoonLake is a clinical-stage biotechnology company focused on developing therapies for inflammatory diseases. During the relevant period, MoonLake conducted highly anticipated Phase 3 VELA trials for sonelokimab (“SLK”), an investigational therapeutic designed to treat adult participants with moderate to severe hidradenitis suppurativa (“HS”).

MoonLake told investors that its “strong clinical data,” including results from its Phase 2 MIRA trial, translate into “higher clinical responses for patients, and provide ample opportunity for differentiation of sonelokimab versus all competitors.” The Company also stated that SLK’s Nanobody structure differed in beneficial ways from traditional monoclonal antibody treatments from its competitors.

As alleged, in truth, the Company’s clinical data and Nanobody structure did not confer a superior clinical benefit over its competitors, calling into question the drug’s chances for regulatory approval and commercial viability.

The Stock Declines as the Truth Is Revealed

On September 28, 2025, MoonLake reported its week 16 results of the VELA Phase 3 trials. The Company reported disappointing results for both trials, with VELA-2 failing to meet its primary endpoint, calling into question the drug’s chances for regulatory approval and commercial viability. On this news, the price of MoonLake stock fell $55.75 per share, or nearly 90%, from $61.99 per share on September 26, 2025, to $6.24 per share on September 29, 2025, the following trading day.

Click here for more information: https://www.bfalaw.com/cases/moonlake-immunotherapeutics-class-action-lawsuit.

What Can You Do?

If you invested in MoonLake you may have legal options and are encouraged to submit your information to the firm.

All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

Submit your information by visiting:

https://www.bfalaw.com/cases/moonlake-immunotherapeutics-class-action-lawsuit

Or contact:
Ross Shikowitz
[email protected]
212.789.3619

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.

https://www.bfalaw.com/cases/moonlake-immunotherapeutics-class-action-lawsuit

Attorney advertising. Past results do not guarantee future outcomes.

NEW YORK, Nov. 13, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against CarMax, Inc. (NYSE: KMX) and certain of the Company’s senior executives for securities fraud after a significant stock drop resulting from the potential violations of the federal securities laws.

If you invested in CarMax, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/carmax-inc-class-action-lawsuit.

Investors have until January 2, 2026, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in CarMax securities. The case is pending in the U.S. District Court for the District of Maryland and is captioned Jason Cap v. CarMax, Inc., et al., No. 1:25-cv-03602.

Why is CarMax Being Sued For Securities Fraud?

CarMax sells used cars. During the relevant period, the Company touted the strong and sustainable demand for its cars, driven by factors such as a seamless customer experience.

As alleged, in truth, it appears that the announcement of U.S. tariffs imposed on cars provided a short-term boost to demand, as customers purchased cars prior to the tariffs taking effect.

BFA Law is also investigating the unexpected departure of CEO Bill Nash on November 6, 2025, and whether CarMax properly assessed or reserved for its portfolio of car loans.

Why did CarMax’s Stock Drop?

On September 25, 2025, the Company reported disappointing financial results for the second quarter of its fiscal year 2026. Specifically, CarMax announced sales declines across the board, including a 5.4% decline in retail used unit sales, a 6.3% decline in comparable store used unit sales, and a 2.2% decline in wholesale units. The Company also posted a disappointing second quarter net income of about $95.4 million, down from $132.8 million over the prior year. A main reason for the declines, according to CarMax, was a “pull forward” in demand into the first fiscal quarter due to the announcement of tariffs.

On this news, the price of CarMax stock dropped $11.45 per share, or roughly 20%, from $57.05 per share on September 24, 2025, to $45.60 per share on September 25, 2025.

Then, on November 6, 2025, CarMax announced the unexpected departure of CEO Bill Nash and a weak preliminary Q3 2025 outlook. On this news, the price of CarMax stock dropped over 24%.

Click here for more information: https://www.bfalaw.com/cases/carmax-inc-class-action-lawsuit.

What Can You Do?

If you invested in CarMax you may have legal options and are encouraged to submit your information to the firm.

All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

Submit your information by visiting:

https://www.bfalaw.com/cases/carmax-inc-class-action-lawsuit

Or contact:
Ross Shikowitz
[email protected]
212.789.3619

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.

https://www.bfalaw.com/cases/carmax-inc-class-action-lawsuit

Attorney advertising. Past results do not guarantee future outcomes.

NEW YORK, Nov. 13, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against James Hardie Industries plc (NYSE: JHX) and certain of the Company’s senior executives for securities fraud after a significant stock drop resulting from the potential violations of the federal securities laws.

If you invested in James Hardie, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/james-hardie-industries-class-action-lawsuit.

Investors have until December 23, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in James Hardie common stock (formerly American Depositary Shares). The class action is pending in the U.S. District Court for the Northern District of Illinois and is captioned Laborers’ District Council and Contractors’ Pension Fund of Ohio v. James Hardie Industries plc, et al., No. 1:25-cv-13018.

Why Was James Hardie Sued for Securities Fraud?

James Hardie is a producer and marketer of high-performance fiber cement building solutions. The largest application for the Company’s fiber cement building products in the United Stated and Canada is in external siding for the residential building industry.

During the relevant period, James Hardie told investors that the results of its North American fiber cement segment demonstrated its “inherent strength” and “the underlying momentum in our strategy.” The Company also stated on May 20, 2025, that it was seeing “normal stock levels” among its customers and that it was “seeing performance in the month to date as we would expect.”

As alleged, in truth, the Company’s North American sales during the relevant period were the result of inventory loading by channel partners, with the hallmarks of fraudulent channel stuffing, not sustainable customer demand as represented.

The Stock Declines as the Truth Is Revealed

On August 19, 2025, James Hardie revealed that its North American fiber cement sales declined 12% during the quarter, driven by destocking first discovered “in April through May” as customers “made efforts to return to more normal inventory levels[.]” The Company also revealed that significant inventory destocking was expected to continue to impact sales for the next several quarters. On this news, the price of James Hardie stock fell $9.79 per share, or more than 34%, from $28.43 per share on August 19, 2025, to $18.64 per share on August 20, 2025.

Click here for more information: https://www.bfalaw.com/cases/james-hardie-industries-class-action-lawsuit.

What Can You Do?

If you invested in James Hardie you may have legal options and are encouraged to submit your information to the firm.

All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

Submit your information by visiting:

https://www.bfalaw.com/cases/james-hardie-industries-class-action-lawsuit

Or contact:
Ross Shikowitz
[email protected]
212.789.3619

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.

https://www.bfalaw.com/cases/james-hardie-industries-class-action-lawsuit

Attorney advertising. Past results do not guarantee future outcomes.

Key Takeaways LMT shares rose 4.6% in three months, trailing industry peers but beating the broader aerospace sector.Revenues grew 8.8% in Q3, aided by contracts, AI and quantum computing partnerships and solid demand.Cost overruns, labor shortages and production risks could weigh on LMT's near-term performance.
Shares of Lockheed Martin Corporation (LMT - Free Report) have surged 4.6% in the past three months, underperforming the Zacks Aerospace-Defense industry’s growth of 4.9%. However, it outperformed the broader Zacks Aerospace sector’s gain of 3.8%. It also came below the S&P 500’s return of 7.7% in the same time frame.

Image Source: Zacks Investment Research

Other industry players, such as Huntington Ingalls Industries (HII - Free Report) and General Dynamics (GD - Free Report) , have delivered a stellar performance in the past three months. Shares of HII and GD have risen 18.8% and 10.6%, respectively, in the said period.

With LMT’s recent gains, some investors may want to buy the stock. However, it’s important to check if the company’s fundamentals can support long-term growth or if the rise is only short-term. Understanding LMT’s growth outlook and risks is key to making an informed decision.

Tailwinds for LMTLMT’s recent performance appears to be supported by its strong quarterly results, strategic partnerships and notable contract wins, which have helped sustain investor confidence. In October, the company reported its third-quarter 2025 results, showing revenue growth of 8.8% and a 2.2% rise in net earnings compared with the same period last year.

In November 2025, LMT formed a strategic collaboration with PsiQuantum to advance quantum computing research and applications for aerospace and defense. This agreement marks an important step toward exploring how quantum computing can help address complex national security and aerospace challenges. It also supports the development of large-scale, fault-tolerant quantum hardware designed to deliver reliable results for critical missions.

In October 2025, LMT’s Sikorsky unit received a contract from the County of Los Angeles for two S-70i FIREHAWK helicopters. These aircraft will strengthen the county’s wildfire suppression, rescue and emergency medical service capabilities across its 4,000-square-mile area.

In the same month, the company announced a partnership with Google Public Sector to integrate Google’s generative AI technology, including its Gemini models, into the Lockheed Martin AI Factory. This collaboration will bring Google’s advanced AI tools into Lockheed Martin’s secure, on-premises and isolated environments, making them accessible to employees across the organization.

Additionally, LMT was awarded a $233 million contract to deliver IRST21 Block II systems and initial spares to the U.S. Navy and Air National Guard.

For defense contractors like LMT, a steady flow of contract wins from the Pentagon and U.S. allies for its combat-proven defense products, such as the most recent awards, serves as a major growth catalyst.

LMT’s EstimatesThe Zacks Consensus Estimate for LMT’s 2025 sales implies year-over-year growth of 4.6%, while that for 2026 sales indicates an improvement of 4.4%. The consensus estimate for its 2025 earnings implies a year-over-year decline of 22.3%, while that for 2026 earnings indicates an improvement of 33.8%.

Image Source: Zacks Investment Research

Further, the upward revision in its 2025 and 2026 earnings over the past 60 days suggests investors’ increasing confidence in this stock’s earnings generation capabilities.

Image Source: Zacks Investment Research

ValuationIn terms of valuation, LMT’s forward 12-month price-to-earnings (P/E) is 15.55X, a discount to the industry average of 29.21X. This suggests that investors will be paying a lower price than the company's expected earnings growth compared with its industry average.

Image Source: Zacks Investment Research

HII and GD are trading at a premium in comparison with LMT. HII’s forward 12-month price-to-earnings is 18.98X, while GD’s forward 12-month price-to-earnings is 20.61X.

Risks to Take Note of Before Choosing LMTLMT continues to face financial and operational challenges that may pressure its performance. Persistent labor shortages across the aerospace-defense sector pose operational risks. The 2025 Workforce Study by the Aerospace Industries Association and McKinsey found that nearly a quarter of the workforce is more than 55, while attrition remains elevated at about 14.5%. Such workforce issues may lead to production delays, cost pressures and delivery setbacks, potentially weighing on Lockheed Martin’s margins and investor sentiment.

LMT has faced notable financial setbacks on several classified contracts. During the first nine months of 2025, the company recorded losses of $950 million on an ongoing classified program at its Aeronautics business segment, $570 million on the Canadian Maritime Helicopter Program, $95 million on the Turkish Utility Helicopter Program at its RMS business segment, and $105 million of unfavorable profit adjustments on C-130 programs at the Aeronautics business segment. Any further cost overruns or performance issues could result in additional material losses, putting further pressure on the company’s future financial results.

Should You Buy LMT Stock Now?Given LMT’s discounted valuation and improving long-term growth outlook, the stock appears fairly valued with potential for steady returns. Its strong quarterly performance and strategic partnerships with firms like Google and PsiQuantum provide a positive foundation for future growth.

However, ongoing labor shortages, cost overruns on classified contracts and operational risks could weigh on near-term performance. Therefore, existing shareholders may consider holding the stock, while new investors might prefer to wait for more stability in the company’s financial and operational performance before taking a position.

LMT currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

G Mining Ventures Corp (TSX:GMIN, OTCQX:GMINF) reported third quarter 2025 gold production that rose 9% quarter over quarter to 46,360 ounces, boosted by continued strong throughput and recoveries at its Tocantinzinho Gold Mine in Brazil. 

The mining company also posted record free cash flow for the quarter of US$95.8 million, an increase of 59% from Q2 2025, on a record US$161.7 million in revenue.  

"The third quarter marked a defining period for GMIN," G Mining Ventures CEO Louis-Pierre Gignac said in a statement.  

"Tocantinzinho is now operating at steady state—delivering record production, free cash flow, and margins that position us among the lowest-cost producers in the Americas." 

G Mining Ventures generated net income for the period of US$123.8 million, or US$0.55 per share. 

The company also realized an all-in sustaining cost (AISC) per ounce of gold sold in Q3 of US$1,046, while selling its gold at an average price of US$3,114 per ounce. 

As well, G Mining Ventures reaffirmed its 2025 production guidance of 175,000 to 200,000 ounces of gold, with AISC expected to remain within the US$1,025 to $1,155 per ounce range. 

Looking ahead to Q4, the company expects to advance detailed engineering and continue early works activities at Oko West and continue environmental permitting activities at Gurupi. 

It also plans to launch a 10-kilometre drill program at Gurupi, following recent permitting advances and preparatory work completed in Q3. 

November 13, 2025 8:39 AM EST | Source: New Found Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - November 13, 2025) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) ("New Found Gold" or the "Company") and Maritime Resources Corp. ( "Maritime Resources") (TSXV: MAE) are pleased to announce that they have closed their previously announced transaction whereby New Found Gold has acquired all of the issued and outstanding shares of Maritime Resources (the "Maritime Shares"), that it does not already own, by way of a statutory plan of arrangement pursuant to Division 5 of Part 9 of the Business Corporations Act (British Columbia) (the "Transaction").

In connection with the completion of the Transaction, Allen Palmiere joined the board of directors of New Found Gold (the "Board") and Melissa Render, President of New Found Gold resigned from the Board. All the directors and officers of Maritime Resources resigned from their positions.

Keith Boyle, Chief Executive Officer and Director of New Found Gold, stated: "In less than a year, New Found Gold has transformed from an early-stage exploration company to an emerging Canadian gold producer with camp-scale exploration potential. Today we see two high-quality assets, the Queensway Gold Project and the Hammerdown Gold Project, located in a Tier 1 jurisdiction with strong synergies, come together at a time of highly favourable gold prices. Under the guidance of an experienced new Board, the Company's management team of mine builders and operators are focused on the path to production and continuing to deliver shareholder value."

"The combined Company is now producing gold; we could not have gotten to this point without the support of our local communities. For this we give our thanks and look forward to continuing this journey with you," continued Mr. Boyle.

Paul Andre Huet, Chairman of New Found Gold, stated: "I am pleased to welcome Allen Palmiere to the Board. Allen brings a depth of operational, management and finance experience to the Company and his expertise on the Maritime Resources assets is of great value. On behalf of the Board and the entire company, I would also like to thank our President, Melissa Render for her service on the Board."

Garett Macdonald, President and CEO of Maritime Resources, stated, "We are pleased with the completion of the business combination and are excited for New Found Gold as it grows into Canada's newest mid-tier gold producer. I would like to recognize the efforts of Maritime's team who demonstrated determination and creativity to develop the Hammerdown Gold Project, as well as the solid support of our shareholders, local communities and the Province of Newfoundland and Labrador these past few years."

Under the terms of the arrangement agreement entered into by New Found Gold and Maritime Resources on September 4, 2025, each holder of Maritime Shares received 0.75 of a New Found Gold common share (each whole share, a "New Found Gold Share") in exchange for each Maritime Share (the "Exchange Ratio"). Immediately upon completion of the Transaction, existing New Found Gold shareholders and former Maritime Resources shareholders held approximately 69% and 31%, respectively, of the pro forma company on a fully-diluted in-the-money basis and Maritime Resources became a wholly-owned subsidiary of New Found Gold. New Found Gold will apply for Maritime Resources to cease to be a reporting issuer under applicable Canadian securities laws and the Maritime Shares will be delisted from the TSX Venture Exchange ("TSXV").

In accordance with the plan of arrangement, each option to purchase Maritime Shares (each, a "Maritime Option") was cancelled and exchanged for a replacement option to acquire from New Found Gold such number of New Found Gold Shares equal to the product of: (A) that number of Maritime Shares that were issuable upon exercise of such Maritime Option immediately prior to the effective time of the Transaction (the "Effective Time") and (B) the Exchange Ratio, at an exercise price per New Found Gold Share equal to the quotient determined by dividing: (X) exercise price per Maritime Share at which such Maritime Option was exercisable immediately prior to the Effective Time, by (Y) the Exchange Ratio. Pursuant to the plan of arrangement, each outstanding Maritime Share purchase warrant became exercisable for New Found Gold Shares issuable on exercise and adjusted in accordance with the Exchange Ratio.

In order to receive the New Found Gold Shares in exchange for their Maritime Shares, registered Maritime Resources shareholders must complete, sign, date and return the Letter of Transmittal that was mailed to each registered Maritime Resources shareholder. The Letter of Transmittal is also available from Maritime Resources' depositary, Computershare Investor Services Inc., and online under Maritime Resources' issuer profile on SEDAR+ at www.sedarplus.ca. Non-registered Maritime Resources shareholders whose Maritime Shares are registered in the name of a broker, investment dealer, bank, trust company, trustee or other intermediary or nominee should contact that intermediary or nominee for assistance in depositing their Maritime Shares and should follow the instructions of such intermediary or nominee in order to deposit their Maritime Shares.

Further information about the Transaction is set out in Maritime Resources' management information circular dated October 1, 2025, which can be accessed online under Maritime Resources' issuer profile on SEDAR+ at www.sedarplus.ca.

Blake, Cassels & Graydon LLP acted as legal counsel to New Found Gold with respect to the Transaction. BMO Capital Markets acted as financial advisor to New Found Gold. Osler, Hoskin & Harcourt LLP acted as legal counsel to Maritime Resources with respect to the Transaction. SCP Resource Finance LP and Canaccord Genuity Corp. acted as financial advisors to the board of directors of Maritime Resources.

Allen Palmiere - Independent Director

Mr. Palmiere, a Chartered Accountant-Chartered Public Accountant by training, has over 40 years of experience in the mining industry both from a financial and operational perspective. His international experience includes South Africa, Central America, Guyana Brazil and China. Mr. Palmiere's expertise includes operations, executive management and financing, both debt and equity. Additionally, Mr. Palmiere has extensive experience in mergers and acquisitions. Mr. Palmiere's former executive positions include CEO and Chairman of the Board, HudBay Minerals Inc., Executive Chairman, Barplats Investments Ltd., Vice President, CFO, Zemex Corporation, and President and CEO, Breakwater Resources Ltd. Mr. Palmiere has also served as a director of numerous public companies. Mr. Palmiere is currently the CEO, President and a Director of Gold Resource Corporation.

Shares for Debt Transaction

The Company is pleased to announce that it has entered into a debt settlement agreement (the "Settlement Agreement") with SCP Resource Finance LLP ("SCP") to settle an aggregate amount of $3,276,712 in outstanding debt, rounded down to the nearest whole number of shares, related to the fees incurred by Maritime Resources pursuant to the terms of the letter agreement with SCP dated March 20, 2024, as amended on August 8, 2025, whereby SCP was appointed as financial advisor in connection with strategic matters related to any financing or a transaction resulting in the sale of Maritime Resources.

Pursuant to the terms of the Settlement Agreement, the Company has agreed to issue 1,085,003 New Found Gold Shares (the "Settlement Shares") at a deemed issue price of $3.02 per Settlement Share, based on the closing price of the New Found Gold Shares on the TSXV on November 12, 2025 (the "Shares for Debt Transaction"). The Board of New Found Gold has determined that the Shares for Debt Transaction is in the best interests of the Company.

Closing of the Shares for Debt Transaction is subject to customary closing conditions, including the approval of the TSXV and authorization of the NYSE American. The Settlement Shares to be issued pursuant to the Shares for Debt Transaction will be subject to a hold period of four months and one day following the date of issuance, in accordance with the applicable securities laws and TSXV policies.

About New Found Gold Corp.

New Found Gold is a well-financed advanced-stage exploration and development company that holds a 100% interest in the Queensway Gold Project ("Queensway"), as well as the recently acquired Maritime Division, where the Company is focused on bringing the Hammerdown Gold Project ("Hammerdown") into steady-state gold production. The Maritime Division includes Hammerdown, where it holds a 100% interest directly and subject to option agreements entitling it to earn 100% ownership in the Green Bay Property, which includes the former Hammerdown gold mine and the Orion gold project. The Maritime Division controls over 43,900 hectares of exploration land including the Green Bay, Whisker Valley, Gull Ridge and Point Rousse projects. Mineral processing assets in the Baie Verte mining district include the Pine Cove mill and the Nugget Pond Hydrometallurgical Gold Plant gold circuit.

The Company has completed a PEA at Queensway (see New Found Gold news release dated July 21, 2025). Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential of the Project that covers a +110 km strike extent along two prospective fault zones. On September 8, 2025, the Company announced it had entered into a property purchase agreement with Exploits Discovery Corp. ("Exploits") that would provide New Found Gold with a 100% interest in certain mineral claims in Newfoundland and Labrador held by Exploits (the "Claims") (see news release dated September 8, 2025). The Claims adjoin Queensway and would increase the size of Queensway by up to 33%, to a total of 234,050 hectares.

The Company's assets are located in Newfoundland and Labrador, Canada, a Tier 1 jurisdiction with excellent infrastructure and a skilled local workforce.

New Found Gold has a new Board and management team, a strong treasury and a solid shareholder base which includes cornerstone investor Eric Sprott. The Company is focused on growth and value creation.

New Found Gold Corp.
Per: "Keith Boyle"
Keith Boyle, Chief Executive Officer

Qualified Persons

The scientific and technical information disclosed in this press release related to Queensway was reviewed and approved by Melissa Render, P. Geo., President, and a Qualified Person as defined under National Instrument 43-101. Ms. Render consents to the publication of this press release by New Found Gold. Ms. Render certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.

The scientific and technical information disclosed in this press release related to the Maritime Division was reviewed and approved by Keith Boyle, P. Eng., CEO, and a Qualified Person as defined under National Instrument 43-101. Mr. Boyle consents to the publication of this press release by New Found Gold. Mr. Boyle certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.

Contact

For further information on New Found Gold, please visit New Found Gold's website at www.newfoundgold.ca, contact us through our investor inquiry form at https://newfoundgold.ca/contact/ or contact:

Fiona Childe, Ph.D., P.Geo.
Vice President, Communications and Corporate Development
Phone: +1 (416) 910-4653
Email: [email protected]

Neither the TSXV nor its Regulatory Services Provider (as that term is defined in the policies of the TSXV) nor the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward-Looking Information

This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements relating to the Transaction and the Shares for Debt Transaction and statements relating to assessments of and expectations for the combined company including production of gold and the timing thereof; assessments and expectations for Hammerdown Gold Project and Queensway Gold Project, including the timing thereof; New Found Gold's plans to apply for Maritime to cease to be a reporting issuer; the delisting of Maritime Shares and the treatment of the Maritime Options and warrants; and closing of the Shares for Debt Transaction, including receipt of TSXV and NYSE American approvals, and the timing thereof. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "interpreted", "intends", "estimates", "projects", "aims", "suggests", "indicate", "often", "target", "future", "likely", "pending", "potential", "encouraging", "goal", "objective", "prospective", "possibly", "preliminary", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSXV and NYSE American, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the Company's ability to complete exploration and drilling programs as expected, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results and the results of the metallurgical testing program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274305

November 13, 2025 7:30 AM EST | Source: CEO.CA Technologies Ltd.
Toronto, Ontario--(Newsfile Corp. - November 13, 2025) - CEO.CA ("CEO.CA"), the leading investor social network in junior resource and venture stocks, shares exclusive updates with CEOs of junior mining explorers.

Founded in 2012, CEO.CA, a wholly owned subsidiary of EarthLabs, Inc., is one of the most popular free financial websites and apps in Canada and for investors globally - with industry leading audience engagement and mobile functionality. Millions of people visit CEO.CA each year to connect with investors from around the world, share knowledge and view impactful stories about stocks, commodities, and emerging companies.

Meet the Executive Shaping the Mining Landscape

'Inside the Boardroom' is more than just an interview series - it's a chance to gain firsthand knowledge from industry leaders, understanding their vision, challenges, and strategy.

We caught up with Dylan Langille, VP Exploration at White Gold Corp. (TSXV: WGO) (OTCQX: WHGOF) (FSE: 29W). Follow what investors are saying and join our community: https://ceo.ca/wgo

#WhiteGoldCorp #Gold #GoldStocks #Yukon #Mining #Discovery #ResourceStocks #AgnicoEagle

White Gold Corp.
(TSXV: WGO) (OTCQX: WHGOF) (FSE: 29W)

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About CEO.CA

The leading community for investors & traders in junior resource & venture stocks. CEO.CA is one of the most popular free financial websites and apps in Canada and for small-cap investors globally — with industry leading audience engagement and mobile functionality. Since 2012, CEO.CA has brought millions of investors together from over 164 countries to discuss their portfolio holdings and find new investment opportunities. Download our App on iOS or Android marketplace or visit us today at CEO.CA to set up your free account.

CEO.CA is a wholly owned subsidiary of EarthLabs, Inc.

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

Cautionary Statement

The information regarding any issuer contained or referred to in any interviews conducted by CEO.CA has been furnished by such issuer directly, and neither CEO.CA nor any of its affiliates or principals assumes any responsibility for the accuracy or completeness of such information or for any failure by an issuer to ensure disclosure of events or facts which may affect the significance or accuracy of any such information.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release may include, but is not limited to, the objectives, goals, future plans, statements regarding exploration results and exploration and/or development plans of companies featured on the CEO.CA platform. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects, currency risk and the other risks involved in the applicable exploration and development industry, and those risks set out in the public documents of such companies filed on SEDAR+ or elsewhere from time to time. Undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. CEO.CA disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274302

Significant progress on multiple fronts – obesity pipeline advancing towards the clinic, out-licensing collaboration, strengthened balance sheet, and reinstatement of NYSE American trading Melanocortin-based therapies for obesity PL7737 IND-enabling toxicology underway; IND submission and clinical trial initiation planned for the first half of 2026 Next-generation selective peptide MC4R agonists d esigned for once-weekly subcutaneous dosing; IND submission and clinical trial initiation planned for mid-2026 Research Collaboration, License and Patent Assignment Agreement with Boehringer Ingelheim for the treatment of retinal diseases in August 2025 Received €2.0M ($2.3M) upfront Achieved €5.5M ($6.5M) research milestone in September 2025 $18.2 million public offering, including full exercise of the over-allotment option, closed on November 12, 2025 Regained compliance with NYSE American listing standards – common stock resumed trading under the symbol "PTN" on November 12, 2025 Teleconference and Webcast to be held on Thursday, November 13, 2025, at 11:00 AM EST PRINCETON, N.J. , Nov. 13, 2025 /PRNewswire/ -- Palatin Technologies, Inc. (NYSE American: PTN), a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor (MCR) system, today announced financial results for its fiscal first quarter ended September 30, 2025 and provided a corporate update.

THE SKNJCT-003 CLINICAL STUDY EXPANSION INTO THE UNITED KINGDOM TO FURTHER ENABLE GLOBAL PATIENT RECRUITMENT AND CLINICAL DATASET TOWARD A PIVOTAL STUDY PROGRAM

PHILADELPHIA, PA / ACCESS Newswire / November 13, 2025 / Medicus Pharma Ltd. (NASDAQ:MDCX) ("Medicus" or the "Company"), a biotech/life sciences company focused on advancing the clinical development programs of novel and potentially disruptive therapeutics assets, is pleased to announce that it has received full regulatory and ethical approvals in the United Kingdom to expand its ongoing Phase 2 clinical study (SKNJCT-003) evaluating Doxorubicin Microneedle Array (D-MNA) to non-invasively treat basal cell carcinoma (BCC) of the skin.

The phase 2 clinical study (SKNJCT-003) which is currently underway in nine (9) clinical sites in United States can now expand into additional sites in United Kingdom.

The approvals were issued by the Medicines and Healthcare products Regulatory Agency (MHRA), the Health Research Authority (HRA) and the Wales Research Ethics Committee (WREC). The MHRA approval followed a comprehensive scientific review of the Investigational Medicinal Product Dossier (IMPD) and protocol. The WREC issued a favorable ethical opinion, and the HRA granted study wide governance approval, confirming compliance with U.K. Good Clinical Practice and National Health Service (NHS) capacity and capability standards.

"The United Kingdom regulatory and ethical approval is another major step forward in establishing a global footprint of our novel, non-invasive treatment for BCC of the skin, which we believe represents more than $2 billion in potential market opportunity," stated Dr. Raza Bokhari, Medicus's Executive Chairman & CEO. "With clinical development programs now active across United States, Europe, and the Middle East, we are enhancing global patient recruitment and clinical dataset which, among other things, would assist us in designing a robust pivotal program".

SKNJCT-003 Clinical Trial Design
The SKNJCT-003 clinical study is designed to be a randomized, double-blind, placebo-controlled (P-MNA), multi-center study enrolling up to 90 subjects presenting with BCC of the skin. The study evaluates the efficacy of two dose levels of D-MNA compared to a placebo control. The participants will be randomized 1:1:1 to one of three groups: a placebo-controlled group receiving P-MNA, a low-dose group receiving 100μg of D-MNA, and a high-dose group receiving 200μg of D-MNA.

The high-dose, 200μg D-MNA, in the study is the maximum dose that was used in the Company's Phase 1 safety and tolerability study (SKNJCT-001) completed in March 2021.

SKNJCT-001 met its primary objective of safety and tolerability. The investigational product, D-MNA, was well tolerated across all dose levels in all 13 participants enrolled in the study, with no dose-limiting toxicities (DLTs), or serious adverse events (SAEs). Furthermore, there were no systemic effects or clinically significant abnormal findings in laboratory parameters, vital signs, ECGs, and physical examinations. The study also describes the efficacy of the investigational product, D-MNA, with 6 participants experiencing complete responses. The complete response is defined as the disappearance of BCC histologically in the final excision at the end of study visit. The participants profile demonstrating complete responses was diverse, and all participants (6/6) had nodular subtype of BCC.

In March 2025, the Company announced a positively trending interim analysis for SKNJCT-003 demonstrating more than 60% clinical clearance. The interim analysis was conducted after more than 50% of the then-targeted 60 patients in the study were randomized. The findings of the interim analysis are preliminary and may or may not correlate with the findings of the study once completed. In April 2025, the investigational review board approved to increase the number of participants in SKNJCT-003 to ninety (90) subjects. The Company is expanding its trial sites in Europe and has randomized more than 75% of the ninety (90) participants expected to be randomized in the study. In September 2025, the Company received positive feedback from the Food and Drug Administration (FDA) regarding its Type C meeting supporting the development of Skinject, indicating that the Company may follow 505(b)(2) regulatory pathway to non-invasively treat BCC using dissolvable D-MNA.

The Company also has a clinical study (SKNJCT-004) currently underway in the United Arab Emirates (UAE). The study is expected to randomize thirty-six (36) patients in six (6) sites in the UAE. Cleveland Clinic Abu Dhabi (CCAD) is the principal investigator, along with Sheikh Shakbout Medical City (SSMC), Burjeel Medical City (BMC), Rashid Hospital (RH), Clemenceau Medical Center (CMC) and American Hospital of Dubai (AHD). Insights Research Organization and Solutions (IROS), a UAE-based contract research organization, is coordinating the clinical study for the Company. IROS is a M42 portfolio company.

In August 2025, the Company completed the acquisition of Antev, a UK-based late clinical stage biotech company, developing Teverelix, a next generation GnRH antagonist, as a first in market product for cardiovascular high-risk advanced prostate cancer patients and patients with first acute urinary retention relapse (AURr) episodes due to enlarged prostate.

Antev's flagship drug candidate is Teverelix trifluoroacetate (Teverelix TFA), a long-acting gonadotrophin-releasing hormone (GnRH) antagonist. Unlike GnRH agonists, which can cause an initial surge in testosterone levels, Teverelix directly suppresses sex hormone production without this surge, potentially reducing cardiovascular risks. This mechanism is particularly beneficial for patients with existing cardiovascular conditions. Teverelix is formulated as a microcrystalline suspension, allowing for sustained release and a six-week dosing interval, which may improve patient compliance and outcomes.

In October 2025, the company announced a strategic collaboration with the Gorlin Syndrome Alliance (GSA) to advance compassionate access to SKINJECT™, the Company's investigational doxorubicin containing microneedle arrays (D-MNA) for patients suffering from Gorlin Syndrome, also known as nevoid basal cell carcinoma syndrome.

Under the collaboration, Medicus and the GSA will jointly pursue the Expanded Access IND Program with the Food and Drug Administration (FDA) to allow patients with multiple, recurrent, or inoperable basal cell carcinomas (BCCs) to access SKINJECT™ under physician-supervised treatment protocols. The initiative aims to establish a framework for expanded access while collecting valuable real-world safety and tolerability data to inform future regulatory filings. It will also more tightly integrate patient community-led insights and data into the design, monitoring, and long-term development of SKINJECT™ in this rare disease population.

For further information contact:
Carolyn Bonner, President and Acting Chief Financial Officer
(610) 636-0184
[email protected]

Anna Baran-Djokovic, SVP Investor Relations
(305) 615-9162
[email protected]

About Medicus Pharma Ltd.
Medicus Pharma Ltd. (NASDAQ:MDCX) is a biotech/life sciences company focused on accelerating the clinical development programs of novel and potentially disruptive therapeutics assets. The Company is actively engaged in multiple countries, spread over three continents.

SkinJect Inc. a wholly owned subsidiary of Medicus Pharma Ltd., is a development stage, life sciences company focused on commercializing novel, non-invasive treatment for basal cell skin cancer using a patented dissolvable microneedle patch to deliver a chemotherapeutic agent to eradicate tumors cells. The Company completed a phase 1 safety & tolerability study (SKNJCT-001) in March of 2021, which met its primary objective of safety and tolerability; the study also describes the efficacy of the investigational product D-MNA, with six (6) participants experiencing complete response on histological examination of the resected lesion. The Company is currently conducting a randomized, controlled, double-blind, multicenter clinical study (SKNJCT-003) in the United States and Europe. The Company has also commenced a randomized, controlled, double-blind, multicenter clinical study (SKNJCT-004) in the United Arab Emirates.

In August 2025, the Company announced its entry into a non-binding memorandum of understanding (the "MoU") with Helix Nanotechnologies, Inc. ("HelixNano"), a Boston Based biotech company focused on developing a proprietary advanced mRNA platform, in respect of their shared mutual interest in the development or commercial arrangement contemplated by the MoU. The MoU is non-binding and shall not be construed to obligate either party to proceed with a joint venture or any further development or commercial arrangement, unless and until definitive agreements are executed.

In August 2025, the Company completed the acquisition of Antev, a UK-based late clinical stage biotech company, developing Teverelix, a next generation GnRH antagonist, as a first in market product for cardiovascular high-risk advanced prostate cancer patients and patients with first acute urinary retention relapse (AURr) episodes due to enlarged prostate.

Antev's flagship drug candidate is Teverelix trifluoroacetate (Teverelix TFA), a long-acting gonadotrophin-releasing hormone (GnRH) antagonist. Unlike GnRH agonists, which can cause an initial surge in testosterone levels, Teverelix directly suppresses sex hormone production without this surge, potentially reducing cardiovascular risks. This mechanism is particularly beneficial for patients with existing cardiovascular conditions. Teverelix is formulated as a microcrystalline suspension, allowing for sustained release and a six-week dosing interval, which may improve patient compliance and outcomes.

In September 2020, Antev completed a Phase 1 clinical trial in which Teverelix was shown to be well tolerated with no dose-limiting toxicities and demonstrated rapid testosterone suppression. The study included 48 healthy male volunteers. In February 2023, Antev also completed a Phase 2a study in fifty (50) patients with advanced prostate cancer (APC), where Teverelix achieved the primary endpoint of greater than 90% probability of castration levels of testosterone suppression (97.5%) but the secondary endpoint of maintaining this rate above 90% was not met with the probability dropping to 82.5% by Day 42.

In January 2023, the FDA, reviewed the Phase 1 and Phase 2a data and provided written guidance on Antev's proposed Phase 3 trial design for Teverelix. This milestone supports the Company's clinical plans to develop Teverelix as a treatment for advanced prostate cancer patients with increased cardiovascular risk.

In December 2023, FDA approved the Phase 2b study design in advanced prostate cancer covering 40 patients.

In November 2024, FDA approved the Phase 2b study design in acute urinary retention covering 390 patients

In October 2025, the company announced a strategic collaboration with the Gorlin Syndrome Alliance (GSA) to advance compassionate access to SKINJECT™, the Company's investigational doxorubicin containing microneedle arrays (D-MNA) for patients suffering from Gorlin Syndrome, also known as nevoid basal cell carcinoma syndrome.

Under the collaboration, Medicus and the GSA will jointly pursue the Expanded Access IND Program with the Food and Drug Administration (FDA) to allow patients with multiple, recurrent, or inoperable basal cell carcinomas (BCCs) to access SKINJECT™ under physician-supervised treatment protocols. The initiative aims to establish a framework for expanded access while collecting valuable real-world safety and tolerability data to inform future regulatory filings. It will also more tightly integrate patient community-led insights and data into the design, monitoring, and long-term development of SKINJECT™ in this rare disease population.

Cautionary Notice on Forward-Looking Statements
Certain information in this news release constitutes "forward-looking information" under applicable securities laws. "Forward-looking information" is defined as disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action and includes, without limitation, the collaboration with GSA including the potential benefits thereof for GSA, those suffering with Gorlin Syndrome and Medicus (including as it relates to the development of SkinJect), ability to be approved for the Expanded Access IND Program to enable those suffering with Gorlin Syndrome to access SKINJECT™ under physician-supervised treatment protocols, the development of Teverelix and expectations concerning, and future outcomes relating to, the development, advancement and commercialization of Teverelix for AURr and high CV risk prostate cancer, and the potential market opportunities related thereto, the MOU, including the potential signing of definitive agreements between Medicus and HelixNano and the development of thermostable infectious diseases vaccines by combining HelixNano's proprietary mRNA vaccine platform with Medicus's proprietary microneedle array (MNA) delivery platform, the Company's aim to fast-track the clinical development program and convert the SKNJCT-003 exploratory clinical trial into a pivotal clinical trial, and approval from the FDA and the timing thereof, plans and expectations concerning, and future outcomes relating to, the development, advancement and commercialization of SkinJect through SKNJCT-003 and SKNJCT-004, and the potential market opportunities related thereto, the expansion of SKNJCT-003 into the United Kingdom and the potential benefits therefrom, the advancement of the SKNJCT-004 study and the potential results of and benefits of such study. Forward-looking statements are often but not always, identified by the use of such terms as "may", "on track", "aim", "might", "will", "will likely result", "could," "designed," "would", "should", "estimate", "plan", "project", "forecast", "intend", "expect", "anticipate", "believe", "seek", "continue", "target", "potential" or the negative and/or inverse of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including those risk factors described in the Company's annual report on form 10-K for the year ended December 31, 2024 (the "Annual Report"), and in the Company's other public filings on EDGAR and SEDAR+, which may impact, among other things, the trading price and liquidity of the Company's common shares. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof and thus are subject to change thereafter. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

SOURCE: Medicus Pharma Ltd