Market Signal Briefing

Ripple has officially partnered with Bahrain Fintech Bay in a strategic move to strengthen Bahrain’s Web3 infrastructure and accelerate the global reach of its RLUSD stablecoin. The collaboration aims to foster innovation through pilot projects, industry events, and integration efforts across the financial ecosystem.

This partnership marks a significant milestone in Ripple’s expansion strategy. Over the past few months, the company has broadened its footprint through key collaborations across Europe, East Asia, and Africa—focusing on making RLUSD more accessible and liquid in diverse markets. Now, with Bahrain’s growing reputation as a fintech hub, Ripple is positioning itself at the center of the Gulf region’s blockchain evolution.

Bahrain Fintech Bay, a leading financial incubator supported by government partnerships, will play a crucial role in Ripple’s regional ambitions. The initiative will not only enhance Web3 capabilities in the kingdom but also integrate RLUSD into Bahrain’s financial infrastructure. Although the stablecoin is not the centerpiece of this deal, it remains an essential element in Ripple’s long-term ecosystem growth.

RLUSD’s liquidity has been expanding rapidly, with its market cap nearing the $1 billion mark according to CoinGecko. Despite this, the stablecoin’s user base remains relatively small, averaging around 500 daily active users over the past year. Ripple’s efforts in Bahrain may prove pivotal in driving broader adoption and increasing real-world usage.

As Ripple continues regulatory and infrastructural advancements worldwide, this Bahrain partnership underscores its commitment to making RLUSD a trusted, globally utilized digital asset. With approximately $80 million in daily transaction volume, Ripple still faces challenges ahead—but its growing international network suggests strong momentum toward achieving mainstream stablecoin success.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

Journalist

Posted: October 10, 2025

Key Takeaways
Why did Helium rally?
A pennant breakout and whale accumulation lifted HNT 14%, supported by rising hotspot usage.

What confirms bullish control?
Buy-side dominance in Futures Taker CVD and larger Average Order Sizes signal continued long positioning.

Helium [HNT] surged 14% in the past 24 hours, at press time, driven by increased network activity and renewed investor confidence.

Rising hotspot usage hinted at fresh adoption momentum across regions, signaling stronger real-world traction for the decentralized wireless network.

According to Helium’s team post, one hotspot served over 900 users daily and earned 900+ HNT in the last month — reflecting revived ecosystem demand.

Technical breakout fuels renewed bullish sentiment
On the daily chart, HNT broke above a pennant consolidation, pushing past both its 50-day and 100-day Exponential Moving Averages (EMAs).

This breakout confirmed a short-term bullish shift as buyers reclaimed control.

If momentum holds, Helium may retest resistance near $2.92 and later $3.10–$3.20. Even so, traders are monitoring potential exhaustion or profit-taking around those levels.

At press time, the trend bias remained bullish, with indicators favoring a possible continuation toward $3.80 if demand sustains.

Helium’s on-chain metrics reinforce potential rally
CryproQuant’s Futures Average Order Size data showed rising whale accumulation, indicating that large holders were entering long positions at current prices.

This accumulation behavior often precedes sustained upward moves during previous similar setups, especially when combined with growing spot market demand.

Further supporting the bullish case, the Futures Taker Cumulative Volume Delta (CVD) continued to indicate strong buyer dominance and thus confirmed long-side aggressiveness among leveraged traders.

Sustained positive CVD typically signaled that taker-buy orders outweighed sell-side pressure, reinforcing the bullish structure.

Bulls steady but eye short-term volatility
Helium’s network activity and derivatives metrics have shown signs of strength, but traders should remain cautious about potential volatility.

If Open Interest spikes too quickly or prices experience sharp pullbacks, short-term corrections may occur before the next upward move.

Despite these risks, overall momentum continues to favor buyers, with both technical indicators and on-chain data supporting Helium’s renewed expansion phase.

In the latest close session, Honeywell International Inc. (HON - Free Report) was down 2.68% at $204.23. The stock trailed the S&P 500, which registered a daily loss of 0.28%. On the other hand, the Dow registered a loss of 0.52%, and the technology-centric Nasdaq decreased by 0.08%.

Coming into today, shares of the company had lost 0.87% in the past month. In that same time, the Conglomerates sector lost 9.7%, while the S&P 500 gained 4.03%.

Investors will be eagerly watching for the performance of Honeywell International Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 23, 2025. In that report, analysts expect Honeywell International Inc. to post earnings of $2.56 per share. This would mark a year-over-year decline of 0.78%. Simultaneously, our latest consensus estimate expects the revenue to be $10.06 billion, showing a 3.43% escalation compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of $10.52 per share and revenue of $40.78 billion, which would represent changes of +6.37% and +5.92%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Honeywell International Inc. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.1% higher. Honeywell International Inc. is holding a Zacks Rank of #2 (Buy) right now.

With respect to valuation, Honeywell International Inc. is currently being traded at a Forward P/E ratio of 19.95. This represents a premium compared to its industry average Forward P/E of 18.51.

It's also important to note that HON currently trades at a PEG ratio of 2.36. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Diversified Operations industry had an average PEG ratio of 1.77 as trading concluded yesterday.

The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 28% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

In the latest close session, Dick's Sporting Goods (DKS - Free Report) was down 1.46% at $223.82. This change lagged the S&P 500's 0.28% loss on the day. Meanwhile, the Dow lost 0.52%, and the Nasdaq, a tech-heavy index, lost 0.08%.

The sporting goods retailer's stock has climbed by 0.03% in the past month, exceeding the Retail-Wholesale sector's loss of 3.47% and lagging the S&P 500's gain of 4.03%.

Analysts and investors alike will be keeping a close eye on the performance of Dick's Sporting Goods in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.71, indicating a 1.45% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $3.17 billion, indicating a 3.82% growth compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $14.39 per share and revenue of $13.97 billion, which would represent changes of +2.42% and +3.89%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Dick's Sporting Goods. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.06% higher within the past month. Dick's Sporting Goods is holding a Zacks Rank of #3 (Hold) right now.

In terms of valuation, Dick's Sporting Goods is presently being traded at a Forward P/E ratio of 15.78. This expresses a premium compared to the average Forward P/E of 15.22 of its industry.

It's also important to note that DKS currently trades at a PEG ratio of 3.25. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Retail - Miscellaneous was holding an average PEG ratio of 2.51 at yesterday's closing price.

The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 32, finds itself in the top 13% echelons of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow DKS in the coming trading sessions, be sure to utilize Zacks.com.

Prologis (PLD - Free Report) ended the recent trading session at $114.45, demonstrating a -1.33% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.28% for the day. Meanwhile, the Dow lost 0.52%, and the Nasdaq, a tech-heavy index, lost 0.08%.

Shares of the industrial real estate developer have appreciated by 4.51% over the course of the past month, outperforming the Finance sector's gain of 0.87%, and the S&P 500's gain of 4.03%.

Investors will be eagerly watching for the performance of Prologis in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 15, 2025. In that report, analysts expect Prologis to post earnings of $1.44 per share. This would mark year-over-year growth of 0.7%. Meanwhile, our latest consensus estimate is calling for revenue of $2.09 billion, up 9.97% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of $5.77 per share and revenue of $8.32 billion, which would represent changes of +3.78% and +10.76%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for Prologis. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.02% increase. Currently, Prologis is carrying a Zacks Rank of #2 (Buy).

Looking at its valuation, Prologis is holding a Forward P/E ratio of 20.11. This signifies a premium in comparison to the average Forward P/E of 11.12 for its industry.

We can also see that PLD currently has a PEG ratio of 2.93. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. REIT and Equity Trust - Other stocks are, on average, holding a PEG ratio of 2.66 based on yesterday's closing prices.

The REIT and Equity Trust - Other industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 91, finds itself in the top 37% echelons of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

XPeng Inc. Sponsored ADR (XPEV - Free Report) closed at $22.91 in the latest trading session, marking a -5.29% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.28%. Meanwhile, the Dow experienced a drop of 0.52%, and the technology-dominated Nasdaq saw a decrease of 0.08%.

Heading into today, shares of the company had gained 20.35% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 16.32% and the S&P 500's gain of 4.03%.

Market participants will be closely following the financial results of XPeng Inc. Sponsored ADR in its upcoming release. Meanwhile, the latest consensus estimate predicts the revenue to be $2.87 billion, indicating a 99.47% increase compared to the same quarter of the previous year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.27 per share and revenue of $11.56 billion, indicating changes of +67.86% and +103.95%, respectively, compared to the previous year.

Investors should also take note of any recent adjustments to analyst estimates for XPeng Inc Sponsored ADR. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. XPeng Inc. Sponsored ADR is holding a Zacks Rank of #3 (Hold) right now.

The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 191, putting it in the bottom 23% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

United Parcel Service (UPS - Free Report) ended the recent trading session at $85.28, demonstrating a -1.12% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.28%. Meanwhile, the Dow experienced a drop of 0.52%, and the technology-dominated Nasdaq saw a decrease of 0.08%.

Coming into today, shares of the package delivery service had gained 2.86% in the past month. In that same time, the Transportation sector gained 1.24%, while the S&P 500 gained 4.03%.

Investors will be eagerly watching for the performance of United Parcel Service in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.33, showcasing a 24.43% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $20.86 billion, indicating a 6.23% decline compared to the corresponding quarter of the prior year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.5 per share and a revenue of $87.45 billion, representing changes of -15.8% and -3.98%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for United Parcel Service. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.42% downward. United Parcel Service is currently a Zacks Rank #4 (Sell).

Investors should also note United Parcel Service's current valuation metrics, including its Forward P/E ratio of 13.28. This represents a discount compared to its industry average Forward P/E of 13.4.

It's also important to note that UPS currently trades at a PEG ratio of 1.59. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Transportation - Air Freight and Cargo stocks are, on average, holding a PEG ratio of 1.59 based on yesterday's closing prices.

The Transportation - Air Freight and Cargo industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 234, which puts it in the bottom 6% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

ATI (ATI - Free Report) closed at $82.28 in the latest trading session, marking a -1.97% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.28%. Elsewhere, the Dow lost 0.52%, while the tech-heavy Nasdaq lost 0.08%.

Coming into today, shares of the maker of steel and specialty metals had gained 9.87% in the past month. In that same time, the Aerospace sector gained 6.59%, while the S&P 500 gained 4.03%.

The upcoming earnings release of ATI will be of great interest to investors. The company's earnings report is expected on October 28, 2025. The company is predicted to post an EPS of $0.75, indicating a 25% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.13 billion, indicating a 7.79% upward movement from the same quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $3.06 per share and revenue of $4.62 billion, which would represent changes of +24.39% and +5.84%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for ATI. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. ATI is currently a Zacks Rank #2 (Buy).

In the context of valuation, ATI is at present trading with a Forward P/E ratio of 27.47. This indicates a discount in contrast to its industry's Forward P/E of 35.34.

It's also important to note that ATI currently trades at a PEG ratio of 1.15. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Aerospace - Defense Equipment industry had an average PEG ratio of 2.39.

The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 58, which puts it in the top 24% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Savara To Contact Him Directly To Discuss Their Options

If you suffered losses in Savara between March 7, 2024 and May 23, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

[You may also click here for additional information]

, /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Savara Inc. ("Savara" or the "Company") (NASDAQ: SVRA) and reminds investors of the November 7, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. 

James (Josh) Wilson, Faruqi & Faruqi Senior Partner (PRNewsfoto/Faruqi & Faruqi, LLP)

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

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the MOLBREEVI BLA lacked sufficient information regarding MOLBREEVI's chemistry, manufacturing, and/or controls; (2) accordingly, the FDA was unlikely to approve the MOLBREEVI BLA in its current form; (3) the foregoing made it unlikely that Savara would complete its submission of the MOLBREEVI BLA within the timeframe it had represented to investors; (iv) the delay in MOLBREEVI's regulatory approval increased the likelihood that the Company would need to raise additional capital; and (v) as a result, Defendants' public statements were materially false and misleading at all relevant times.

On May 27, 2025, Savara issued a press release "announc[ing] that the Company received [a refusal to file] letter from the FDA for the [Biologics License Application] of MOLBREEVI as a therapy to treat patients with autoimmune PAP."

On this news, Savara's stock price fell $0.90 per share, or 31.69%, to close at $1.94 per share on May 27, 2025.

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

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

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

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

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

SOURCE Faruqi & Faruqi, LLP

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MONTREAL, Oct. 09, 2025 (GLOBE NEWSWIRE) -- Velan Inc. (TSX: VLN) (“Velan” or the “Company”), a world-leading manufacturer of industrial valves, announced today financial results for its second quarter ended August 31, 2025. All amounts are expressed in U.S. dollars unless indicated otherwise.

SECOND-QUARTER HIGHLIGHTS FROM CONTINUING OPERATIONS

IFRS MEASURES

Sales of $67.6 million, versus $77.7 million last year, reflecting the rescheduling of more than $12 million in sales to later in the fiscal year, largely related to customer changes in delivery schedules, and the disruptive effects of ongoing changes in global tariff schemes.Gross profit of $15.7 million or 23.2%, of sales, compared to $20.0 million, or 25.7% of sales, last year.Operating income of $0.4 million, compared to an operating loss of $0.3 million a year ago.Net loss1 of $1.7 million, versus a net loss of $1.2 million a year ago.Strong financial position with a net cash position of $29.5 million as at August 31, 2025, versus $32.4 million at the beginning of the fiscal year, and access to total liquidity of approximately $96 million. NON-IFRS AND SUPPLEMENTARY FINANCIAL MEASURES

Backlog2 of $285.8 million, up 4.0% from $274.9 million since the beginning of the fiscal year.Bookings2 of $65.2 million, versus $88.4 million last year which included new strategic projects for the nuclear power market with typically long lead times.Adjusted net loss2 of $1.2 million, versus adjusted net income of $2.8 million last yearAdjusted EBITDA2 of $3.4 million, compared to $6.7 million last year. SIX-MONTH HIGHLIGHTS FROM CONTINUING OPERATIONS

IFRS MEASURES INCLUDING SIGNIFICANT TRANSACTIONS (see below)

Sales of $139.8 million, up $1.2 million, or 0.9%, compared to the same period a year ago.Gross profit of $36.3 million, or 26.0% of sales, versus $36.8 million, or 26.5%, of sales last year.Operating loss of $3.4 million, compared to an operating loss of $2.0 million a year ago.  Net income of $16.2 million, versus a net loss of $3.4 million, last year. NON-IFRS AND SUPPLEMENTARY FINANCIAL MEASURES

Bookings of $143.4 million, versus $171.4 million last year.Adjusted net loss2 of $1.1 million, versus adjusted net income of $3.0 million last year.Adjusted EBITDA2 of $7.1 million, compared to $9.6 million last year.Net income of $74.8 million considering discontinued operations, including gain on disposal of French assets.
____________________
1 Net income or loss refer to net income or loss attributable to Subordinate and Multiple Voting Shares
2 Non-IFRS and supplementary financial measures – more information at the end of this document.

"VeIan generated positive operating income of $385 thousand in the second quarter notwithstanding rescheduling certain order deliveries totaling more than $12 million to accommodate changes in customer requirements and the ongoing disruptive impact of changing tariff schemes," said James A. Mannebach, Chairman of the Board and CEO of Velan. "Rescheduled orders totaling approximately $5 million were shipped early in the third quarter, with the remainder to be executed later in the quarter or before fiscal year-end. We also have a solid backlog of $285.8 million, mostly deliverable within the next 12 months, to support our growth ambitions. What's more, we delivered the first order from our new joint venture in Saudia Arabia, building on our growing momentum in the Middle East market, the largest worldwide for oilfield valves. Finally, after permanently resolving our asbestos-related liabilities and completing the sale of our French assets earlier this year, we remain active considering capital structure options to assure the Company remains well positioned to fully achieve its growth ambitions and its determination to maximize shareholder value."

"Despite an increase in working capital requirements due to higher late-stage work in process related to the changes in delivery schedules, our financial position remains very strong with cash and cash equivalents of $36.1 million and modest indebtedness. Considering our liquidities, credit facilities, working capital financing, letters of credit and guarantees, we have $95.9 million available to invest in expansion opportunities. Additionally, with reduced balance sheet risk following the transactions, we are well positioned to execute our strategy and sustain long-term profitable growth," added Rishi Sharma, Chief Financial and Administrative Officer of VeIan.

FINANCIAL RESULTS
in ‘000s of U.S. dollars, excluding per share amounts)Three-month periods endedSix-month periods endedAugust 31,
2025
 August 31,
2024
 August 31,
 2025
 August 31,
 2024
 From continuing operations    Sales$67,611 $77,696 $139,840 $138,594 Gross profit$15,675 $19,954 $36,301 $36,782 Gross margin23.2% 25.7% 26.1% 26.5% Administration costs$15,377 $15,977 $33,690 $31,345 Restructuring expenses$690 $4,493 $6,064 $6,833 Other expenses (income)(777
)(175
)(45
)788
 Operating income (loss)$385 ($341)($3,408)($1,984)Net income (loss)($1,660)($1,168)$16,166 ($3,355)Net income from discontinued operations($780)$1,289 $58,599 $2,372 Net income (loss)($2,440)$121 $74,765 ($983)(in dollars per share – basic and diluted)    Net income (loss) from continuing operations($0.08)($0.05)$0.75 ($0.16)Net income (loss) from discontinued operations($0.03)$0.06 $2.71 $0.11 Net income (loss)($0.11)$0.01 $3.46 ($0.05) NON-IFRS AND SUPPLEMENTARY FINANCIAL MEASURES (From continuing operations, in ‘000s of U.S. dollars, excluding per share amounts)Three-month periods ended
Six-month periods ended August 31, 2025
 August 31, 2024 August 31, 2025
 August 31, 2024
 Adjusted EBITDA$3,358 $6,746 $7,138 $9,592 Adjusted net income (loss)($1,153)$2,754 ($1,063)$2,997 per share - basic and diluted($0.05)$0.13 ($0.05)$0.14           BACKLOG AND BOOKINGS

BACKLOG
(‘000s of U.S. dollars)As at August 31, 
2025 February 28,
2025 Backlog$285,800 $274,877 for delivery within the next 12 months$252,355 $225,662  BOOKINGS 
(‘000s of U.S. dollars, excluding ratios)Three-month periods endedSix-month periods endedAugust 31, 2025 August 31, 2024 August 31, 2025 August 31, 2024 Bookings$65,065 $88,408 $143,399 $171,377           As at August 31, 2025, the backlog from continuing operations stood at $285.8 million, up $10.9 million, or 4.0%, from $274.9 million since the beginning of the fiscal year. Currency movements had a $9.6 million positive effect on the value of the backlog during the first six months of fiscal 2026 mainly due to the strengthening of the euro versus the U.S. dollar. Excluding currency movements, the increase reflects bookings exceeding shipments in the first six months of fiscal 2026. As at August 31, 2025, 88.3% of the backlog, representing orders of $252.4 million, is deliverable in the next 12 months, versus 91.3% of last year's backlog. This shift in the delivery schedule is driven by the securing of an increasing number of long-term larger contracts for the nuclear and defense sectors.

Bookings from continuing operations amounted to $65.2 million in the second quarter of fiscal 2026, compared to $88.4 million in the second quarter of fiscal 2025. The decrease reflects lower bookings in North America and Germany due to large orders received in last year's second quarter and the timing of certain bookings due to tariff-related uncertainty. These factors were partially offset by higher bookings recorded by Italian operations. Currency movements had a negligible effect on the value of bookings for the quarter.

In the first half of fiscal 2026, bookings from continuing operations totaled $143.4 million, compared to $171.4 million in the first half of fiscal 2025. The decrease is mainly attributable to the factors mentioned above. Currency movements had a $1.3 million positive effect on the value of bookings for the period.

SECOND QUARTER RESULTS

Sales from continuing operations totaled $67.6 million, a decrease of $10.1 million or 13.0% compared to $77.7 million for the same period last year. The variation is mainly related to customer changes in delivery schedules on certain projects at North American and Italian operations of more than $12 million and to the disruptive effects of ongoing changes in global tariff schemes. Last year's second quarter results also included non-recurring revenue of $5.2 million related to a cancelled agreement for German operations. These factors were partially offset by higher sales in Korea, India and China as well as higher maintenance, repair and overhaul {MRO) sales in North America. Currency movements had a $1.4 million positive effect on sales for the period.

Gross profit from continuing operations was $15.7 million, versus $20.0 million last year. The variation reflects a lower business volume which affected the absorption of fixed production overhead costs, a less favorable product mix this year compared to last, and the effect of tariffs on supply chain optimization as well as a timing lag between tariffs incurred and customer recovery. Currency movements had a $0.3 million positive effect on gross profit for the period. As a percentage of sales, gross profit was 23.2%, compared to 25.7% last year.

Administration costs from continuing operations amounted to $15.4 million, or 22.7% of sales, compared to $16.0 million, or 20.6% of sales, last year. The variation mainly reflects lower sales commissions and lower freight costs.

The Company incurred restructuring expenses of $0.7 million, consisting of transaction-related costs, while last year’s restructuring expenses of $4.5 million included asbestos-related costs of $2.3 million and divestiture transaction-related costs of $2.2 million.

Adjusted EBITDA from continuing operations, excluding restructuring expenses, was $3.4 million, versus $6.7 million a year ago. The decrease is primarily attributable to lower gross profit, partially offset by lower administration costs, as explained above.

Net loss from continuing operations was $1.7 million, or $0.08 per share, compared to a net loss of $1.2 million, or $0.05 per share, a year earlier. Net loss from discontinued operations was $0.8 million, or $0.03 per share, representing conditional transaction closing fees, versus net income from discontinued operations of $1.3 million, or $0.06 per share, last year. As a result, the net loss was $2.4 million, or $0.11 per share, versus net income of $0.1 million, or $0.01 per share, last year.  

Adjusted net loss from continuing operations, excluding restructuring expenses, was $1.2 million, or $0.05 per share, versus adjusted net income of $2.8 million, or $0.13 per share, a year earlier.

SIX-MONTH RESULTS

Sales from continuing operations amounted to $139.8 million, an increase of $1.2 million, or 0.9%, compared to$138.6 million a year ago. The variation reflects higher sales in Korea, India, China and Italy. These factors were mostly offset by the changes in customers’ delivery schedules, the tariff effect, and last year’s non-recurring revenue of $5.2 million. Currency movements had a $1.5 million positive effect on sales for the period.

Gross profit from continuing operations was $36.3 million, compared to $36.8 million last year. The small decrease reflects the negative effect of the factors mentioned above, offset by the positive effect of higher business volume and a more favourable product mix in the first quarter. Currency movements had a $0.3 million positive effect on gross profit for the period. As a percentage of sales, gross profit was 26.0%, compared to 26.5% last year.

Administration costs from continuing operations were $33.7 million, or 24.1% of sales, compared to $31.3 million, or 22.6% of sales, a year ago. The variation is attributable to higher professional fees and higher sales commissions, partially offset by lower freight costs.

The Company incurred restructuring expenses of $6.1 million, including $6.8 million in transaction-related costs, partially offset by a $0.8 million reversal of asbestos-related costs. Last year, restructuring expenses of $6.8 million included asbestos-related costs of $4.7 million transaction-related costs of $2.2 million.

Adjusted EBITDA from continuing operations, excluding restructuring expenses, was $7.1 million, versus $9.6 million last year. The decrease is primarily attributable to higher administration costs.

Net income from continuing operations was $16.2 million, or $0.75 per share, compared to a net loss of $3.4 million, or $0.16 per share, in the prior year. Net income from discontinued operations was $58.6 million, or $2.71 per share, versus net income from discontinued operations of $2.4 million, or $0.11 per share, last year. As a result, net income was $74.8 million, or $3.46 per share, compared with a net loss of $1.0 million, or $0.05 per share, a year ago.

Adjusted net loss from continuing operations, excluding restructuring expenses and a non-recurring tax recovery on the France transaction, was $1.1 million, or $0.05 per share, versus adjusted net income of $3.0 million, or $0.14 per share, a year ago.

FINANCIAL POSITION

As at August 31, 2025, the Company held cash and cash equivalents of $36.1 million and short-term investments of $0.4 million. Bank indebtedness stood at $6.6 million, while long-term debt, including the current portion, amounted to $15.9 million. In total, the Company has $95.9 million in cash and available credit to fund its growth and investment objectives.

OUTLOOK

As at August 31, 2025, orders amounting to $252.4 million, representing 88.3% of a total backlog of $285.8 million, are expected to be delivered in the next 12 months. Given these orders, and despite the current uncertainty related to tariffs, the Company expects to deliver another solid performance in fiscal 2026.

DIVIDEND

On October 9, 2025, the Board of Directors of Velan has declared a dividend of CA$0.10 per common share payable on November 27, 2025, to shareholders of record as at November 13, 2025.

SIGNIFICANT TRANSACTIONS

On March 31, 2025, the Company announced the closing sale of its French subsidiaries Velan S.A.S. and Segault S.A.S. for a total consideration of $208.2 million (€192.5 million) and net consideration of $183.1 million. Based on the net book value at the closing of the transaction and related costs, a gain of $95.8 million was recorded in the first quarter of fiscal 2026. The sale also triggered the recognition of a cumulative translation adjustment of $12.5 million. These amounts were recorded as part of results from discontinued operations.

Concurrently with the sale of its French subsidiaries, the Company entered into an agreement to sell its current and future exposure to asbestos-related litigation in the United States. Part of the proceeds received from the sale of the French assets was used on April 3, 2025, to pay an amount of $143.0 million for this settlement.

CONFERENCE CALL NOTICE

Financial analysts, shareholders, and other interested individuals are invited to attend the second quarter conference call to be held on Friday, October 10, 2025, at 8:00 a.m. (EDT). The toll-free call-in number is 1-800-990-4777 or by RapidConnect URL: https://emportal.ink/3HMQyiC. The material that will be referenced during the conference call will be made available shortly before the event on the company’s website under the Investor Relations section (https://velan.com/investor-relations). A recording of this conference call will be available for seven days at 1-289-819-1450 or 1-888-660-6345 and entering the replay code 06670.

ABOUT VELAN

Founded in Montreal in 1950, Velan Inc. (www.velan.com) is one of the world’s leading manufacturers of industrial valves, with sales from continuing operations of US$295.2 million in its last reported fiscal year. The Company employs 1,265 people and has manufacturing plants in 9 countries. Velan Inc. is a public company with its shares listed on the Toronto Stock Exchange under the symbol VLN.

SAFE HARBOUR STATEMENT

This news release may include forward-looking statements, which generally contain words like “should”, “believe”, “anticipate”, “plan”, “may”, “will”, “expect”, “intend”, “continue” or “estimate” or the negatives of these terms or variations of them or similar expressions, all of which are subject to risks and uncertainties, which are disclosed in the Company’s filings with the appropriate securities commissions. While these statements are based on management’s assumptions regarding historical trends, current conditions and expected future developments, as well as other factors that it believes are reasonable and appropriate in the circumstances, no forward-looking statement can be guaranteed and actual future results may differ materially from those expressed herein. The Company disclaims any intention or obligation to update or revise any forward-looking statements contained herein whether as a result of new information, future events or otherwise, except as required by the applicable securities laws. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

NON-IFRS AND SUPPLEMENTARY FINANCIAL MEASURES

In this press release, the Company has presented measures of performance or financial condition which are not defined under IFRS (“non-IFRS measures”) and are, therefore, unlikely to be comparable to similar measures presented by other companies. These measures are used by management in assessing the operating results and financial condition of the Company and are reconciled with the performance measures defined under IFRS. The Company has also presented supplementary financial measures which are defined at the end of this report. Reconciliation and definition can be found below.

Adjusted net income (loss), Adjusted net income (loss) per share, Earnings before interest, taxes, depreciation and amortization ("EBITDA") and Adjusted EBITDA

 Three-month periods endedSix-month periods ended(in thousands, except per share amounts; certain totals may not add up due to rounding)August 31, 2025
$August 31, 2024
$August 31, 2025
$August 31, 2024
$Reconciliation of net income (loss) from continuing operations to adjusted net income (loss) from continuing operations and adjusted net income (loss) from continuing operations per share     Net income (loss) from continuing operations(1,660)(1,168)16,166 (3,355)Adjustments for:     Asbestos-related costs- 2,341 (754)4,681 Transaction-related costs507 1,582 6,635 1,582 Other restructuring expenses- - - 89 Non-recurring tax recovery on France transaction- - (23,110)- Adjusted net income (loss) from continuing operations(1,153)2,754 (1,063)2,997 per share – basic and diluted(0.05)0.13 (0.05)0.14 Reconciliation of net income (loss) from continuing operations to Adjusted EBITDA from continuing operations    Net income (loss) from continuing operations(1,660)(1,168)16,166 (3,355)Adjustments for:    Depreciation of property, plant and equipment1,723 2,196 3,352 3,545 Amortization of intangible assets and financing costs541 364 1,060 987 Finance costs – net244 331 634 525 Income tax expense (recovery)1,820 531 (20,138)937 EBITDA2,668 2,254 1,074 2,638 Adjustments for:    Asbestos-related costs- 2,341 (754)4,681 Transaction-related costs690 2,152 6,818 2,152 Other restructuring expenses- - - 121 Adjusted EBITDA3,358 6,746 7,138 9,592           The term “Adjusted net income (loss)” is defined as net income or loss attributable to Subordinate and Multiple Voting Shares plus adjustment, net of income taxes, for costs related to restructuring and to the proposed transaction. The terms “Adjusted net income (loss) per share” is obtained by dividing Adjusted net income (loss) by the total amount of subordinate and multiple voting shares. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The term “EBITDA” is defined as adjusted net income plus depreciation of property, plant & equipment, plus amortization of intangible assets, plus net finance costs, plus income tax provision. The term “Adjusted EBITDA” is defined as EBITDA plus adjustment for costs related to restructuring and to the proposed transaction. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Definitions of supplementary financial measures

The term “Net new orders” or “bookings” is defined as firm orders, net of cancellations, recorded by the Company during a period. Bookings are impacted by the fluctuation of foreign exchange rates for a given period. The measure provides an indication of the Company’s sales operation performance for a given period as well as well as an expectation of future sales and cash flows to be achieved on these orders.

The term “backlog” is defined as the buildup of all outstanding bookings to be delivered by the Company. The Company’s backlog is impacted by the fluctuation of foreign exchange rates for a given period. The measure provides an indication of the future operational challenges of the Company as well as an expectation of future sales and cash flows to be achieved on these orders.

The term “book-to-bill” is obtained by dividing bookings by sales. The measure provides an indication of the Company’s performance and outlook for a given period.  

The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Contact:
Rishi Sharma, Chief Financial and Administrative OfficerMartin Goulet, M.Sc., CFAVelan Inc.MBC Capital Markets AdvisorsTel: (438) 817-4430Tel.: (514) 731-0000, ext. 229   Consolidated Statements of Financial Position     (in thousands of U.S. dollars)         As at   August 31, February 28,   2025 2025   $ $ Assets           Current assets     Cash and cash equivalents 36,093 34,872 Short-term investments 388 358 Accounts receivable 68,209 62,612 Income taxes recoverable 5,994 5,617 Inventories 137,307 134,969 Deposits and prepaid expenses 4,288 3,689 Derivative assets 705 24 Assets held for sale - 176,762   252,984 418,903       Non-current assets     Property, plant and equipment 50,523 51,349 Intangible assets and goodwill 5,904 5,893 Deferred income taxes 5,597 25,101 Other assets 777 720         62,801 83,063       Total assets 315,785 501,966       Liabilities           Current liabilities     Bank indebtedness 6,616 2,508 Accounts payable and accrued liabilities 74,598 78,776 Income taxes payable 2,366 1,818 Customer deposits 14,939 22,338 Provisions 5,140 153,957 Derivative liabilities - 480 Current portion of long-term lease liabilities 1,537 1,437 Current portion of long-term debt 1,481 2,096 Liabilities held for sale - 110,883   106,677 374,293       Non-current liabilities     Long-term lease liabilities 4,479 4,727 Long-term debt 14,432 14,107 Income taxes payable - 692 Deferred income taxes 1,526 737 Customer deposits 9,518 3,876 Other liabilities 5,210 4,796         35,165 28,935       Total liabilities 154,664 403,228       Total equity 180,262 98,738       Total liabilities and equity 334,926 501,966           Consolidated Statements of Income (loss)    (in thousands of U.S. dollars, excluding number of shares and per share amounts)    Three-month periods ended
  Six-month periods ended
  August 31, August 31,  August 31, August 31,  2025 2024  2025 2024  $ $  $ $             Sales 67,611 77,696  139,840 138,594       Cost of sales51,936 57,742  103,539 101,812       Gross profit15,675 19,954  36,301 36,782       Administration costs15,377 15,977  33,690 31,345 Restructuring expenses690 4,493  6,064 6,833 Other expense (income)(777)(175) (45)588       Operating income (loss)385 (341) (3,408)(1,984)      Financing expenses(244)(331) (634)(525)      Net income (loss) before income taxes141 (672) (4,042)(2,509)      Income tax expense (recovery)1,820 531  (20,138)937       Net income (loss) for the period from continuing operations(1,679)(1,203) 16,096 (3,446)Results from discontinued operations(780)1,289  58,599 2,372  (2,459)86  74,695 (1,074)      Net income (loss) attributable to:     Subordinate Voting Shares and Multiple Voting Shares(2,440)121  74,765 (983)Non-controlling interest(19)(35) (70)(91)      Net income (loss) for the period(2,459)86  74,695 (1,074)      Net income (loss) per Subordinate and Multiple Voting Share     Basic and diluted from continuing operations(0.08)(0.05) 0.75 (0.16)Basic and diluted from discontinued operations(0.03)0.06  2.71 0.11 Basic and diluted from all operations(0.11)0.01  3.46 (0.05)      Dividends declared per Subordinate and Multiple0.07 -  0.31 - Voting Share(CA$ 0.10)(CA$ - ) (CA$ 0.43 )(CA$ - )            Total weighted average number of Subordinate and     Multiple Voting Shares      Basic and diluted21,585,635 21,585,635  21,585,635 21,585,635        Consolidated Statements of Comprehensive Loss    (in thousands of U.S. dollars)      Three-month periods ended
  Six-month periods ended
  August 31, August 31,  August 31, August 31,  2025 2024  2025 2024  $ $  $ $             Comprehensive loss            Net income (loss) for the period(2,459)86  74,695 (1,074)      Other comprehensive income (loss)     Foreign currency translation of foreign subsidiaries(2,319)(434) (5,191)(91)Foreign currency translation of foreign subsidiaries from discontinued operations- (1,837) - 337 Reclassification of foreign currency translation from discontinued operations- -  12,456 -       Comprehensive loss (4,778)(2,185) 81,960 (828)      Comprehensive income (loss) attributable to:     Subordinate Voting Shares and Multiple Voting Shares(4,759)(2,150) 82,030 (737)Non-controlling interest(19)(35) (70)(91)      Comprehensive loss (4,778)(2,185) 81,960 (828)            Other comprehensive loss is composed solely of items that may be reclassified subsequently to the consolidated statement of loss. Consolidated Statements of Changes in Equity     (in thousands of U.S. dollars, excluding number of shares)                               Equity attributable to the Subordinate and Multiple Voting shareholders   Share capitalContributed surplusAccumulated other comprehensive lossRetained earningsTotalNon-controlling interestTotal equity        Balance - February 29, 202472,6956,260(38,692)141,914 182,177 1,082 183,259         Net loss for the period--- (983)(983)(91)(1,074)Other comprehensive income--246 - 246 - 246         Comprehensive income (loss)--246 (983)(737)(91)(828)        Balance - August 31, 202472,6956,260(38,446)140,931 181,440 991 182,431         Balance - February 28, 202572,6956,355(47,141)65,952 97,861 877 98,738         Net loss for the period--- 74,765 74,765 (70)74,695 Other comprehensive income--(5,191)- (5,191)- (5,191)        Comprehensive income (loss)--(5,191)74,765 69,574 (70)(69,504)        Reclassification of foreign currency translation to discontinued operations--12,456 - 12,456 - 12,456 Dividends           Multiple Voting Shares--- (4,869)(4,869)- (4,869)    Subordinate Voting Shares--- (1,886)(1,886)- (1,886)        Balance - August 31, 202472,6956,355(39,876)133,962 173,136 807 173,943          Consolidated Statements of Cash Flow     (in thousands of U.S. dollars)      Three-month periods ended
  Six-month periods ended
  August 31, August 31,  August 31, August 31,  2025 2024  2025 2024  $ $  $ $       Cash flows from           Operating activities     Net income (loss) for the period(2,459)86  74,695 (1,074)Less: results from discontinued operations780 (1,289) (58,599)(2,372)Net income (loss) for the period from continuing operations(1,679)(1,203) 16,096 (3,446)Adjustments to reconcile net loss to cash used by operating activities2,389 10,800  (14,726)9,968 Changes in non-cash working capital items(17,808)(2,311) (34,875)12,684 Cash provided (used) by operating activities from continuing operations (excluding Asbestos settlement)(17,098)7,286  (33,505)19,206 Asbestos Settlement transaction- -  (143,553)- Cash provided (used) by operating activities from continuing operations(17,098)7,286  (177,058)19,206       Investing activities     Short-term investments- 1,105  (33)665 Additions to property, plant and equipment(979)(1,321) (2,932)(3,069)Additions to intangible assets- 735  - (69)Proceeds on disposal of property, plant and equipment180 138  1,133 146 Net change in other assets(49)-  (14)(53)Cash provided (used) by investing activities from continuing operations (excluding proceeds on disposal of France assets) (848)656  (1,846)(2,380)Proceeds on disposal of France assets(780)-  182,363 - Cash provided (used) by investing activities from continuing operations (1,628)656  180,517 (2,380)      Financing activities     Dividends paid to Subordinate and Multiple Voting shareholders(6,755)-  (6,755)- Net change in revolving credit facility- (3,000) - (3,000)Increase in long-term debt80 519  1,143 772 Repayment of long-term debt(642)(120) (1,512)(3,936)Repayment of long-term lease liabilities(413)21  (812)(426)Cash provided (used) by financing activities from continuing operations(7,730)(2,580) (7,936)(6,590)      Effect of exchange rate differences on cash 149 62  1,590 (475)      Net change in cash during the period from continuing operations(26,307)5,424  (2,887)9,761 Net change in cash during the period from discontinued operations(780)1,826  8,745 (4,939)Net change in cash during the period(27,087)7,250  5,858 4,822       Net cash – Beginning of the period55,784 31,620  32,364 27,283       Net cash – End of the period29,477 37,044  29,477 37,044       Net cash is composed of:         Cash and cash equivalents36,093 40,257  36,093 40,257     Bank indebtedness(6,616)(3,213) (6,616)(3,213)      Net cash – End of the period29,477 37,044  29,477 37,044       Supplementary information     Interest received (paid)(39)(205) (278)(409)Income taxes paid(1,437)(508) (2,864)(1,545)

October 09, 2025 7:42 PM EDT | Source: Vortex Metals Inc.
Vancouver, British Columbia--(Newsfile Corp. - October 9, 2025) - Vortex Metals Inc. (TSXV: VMS) (FSE: DM8) (OTCQB: VMSSF) ("Vortex" or the" Company ") announces that, due to interest from an existing strategic investor, it intends to close a second tranche of its previously announced non-brokered private placement (the "Second Tranche"). Under the Second Tranche, the Company intends to issue a maximum of 2,625,000 units (the "Units") at a price of $0.04 per Unit for gross proceeds of $105,000.

Each Unit will be comprised of one common share of the Company (a "Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one additional Share for a period of 36 months from the date of issuance at an exercise price of $0.08 per Share.

The Warrants will be subject to an acceleration clause which allows the Company to accelerate the expiry date of the Warrants if after 18 months from the date of issuance, the trading price of the Shares exceeds $0.15 for a period of 10 consecutive days.

Vortex intends to allocate the gross proceeds raised from the sale of the Units as follows: approximately 40% to pay for mining concession fees, approximately 40% to pay for exploration fees and remaining 20% for general working capital purposes. The Company may pay finders' fees comprised of cash and non-transferable Share purchase warrants in connection with the Second Tranche, subject to compliance with the policies of the TSX Venture Exchange (the "TSXV").

All securities issued under the Second Tranche will be subject to a hold period expiring four months and one day from the date of issuance in accordance with applicable securities laws. Completion of the Second Tranche remains subject to the receipt of all necessary regulatory approvals, including the approval of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.

About Vortex Metals Inc.

Vortex Metals Inc. is a copper focused exploration and development company with a diversified portfolio of exploration projects in Chile and Mexico. Vortex holds an option to acquire up to 80% interest in the brownfield Illapel Copper Project in Chile and through its Mexican subsidiary Empresa Minera Acagold, S.A. de C.V., it owns 100% interest in two drill-ready high-potential copper-gold volcanogenic massive sulfide (VMS) properties, Riqueza Marina and Zaachila, in Oaxaca, Mexico. The Company emphasizes responsible exploration, community engagement, and environmental stewardship to meet the rising global demand for copper.

Neither the 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 news release.

Forward-Looking Statements

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward-looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the completion of the Second Tranche; the anticipated proceeds to be raised under the Second Tranche; and the intended use of proceeds raised under the Second Tranche.

These forward-looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain the required regulatory approvals for the Second Tranche; market uncertainty; the inability of the Company to complete the Second Tranche on the terms disclosed, or at all; the inability of the Company to raise the anticipated proceeds under the Second Tranche; changes in the Company's business plans impacting the intended use of proceeds raised under the Second Tranche; and the state of the financial markets for the Company's securities.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the Company will obtain the required regulatory approvals for the Second Tranche; the Company will be able to complete the Second Tranche on the terms disclosed; the Company will be able to raise the anticipated proceeds under the Second Tranche; and the Company will use the proceeds of the Second Tranche as currently anticipated and on the timeline currently expected. 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 out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

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, /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that the WPP class action lawsuit seeks to represent purchasers or acquirers of WPP plc (NYSE: WPP) common stock between February 27, 2025 and July 8, 2025, inclusive (the "Class Period"). Captioned Marty v. WPP plc, No. 25-cv-08365 (S.D.N.Y.), the WPP class action lawsuit charges WPP and certain of WPP's top executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the WPP class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-wpp-plc-class-action-lawsuit-wpp.html

You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].

CASE ALLEGATIONS: WPP brands itself as a creative transformation company that provides communications, experience, commerce, and technology services.

The WPP class action lawsuit alleges that defendants throughout the Class Period created the false impression that they possessed reliable information pertaining to WPP's projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations. In truth, according to the complaint, WPP's optimistic reports of its potential to achieve new client bid wins and retain its existing clientele fell short of reality as WPP's media arm was not equipped to compete effectively and had begun to lose market share to its competitors.

The WPP class action lawsuit further alleges that on July 9, 2025, WPP published a trading update for the first half of 2025, alerting investors that WPP had allegedly "seen a deterioration in performance as Q2 has progressed," attributing the deterioration to both "continued macro uncertainty weighing on client spend and weaker net new business than originally anticipated," at least in part due to "some distraction to the business" as a result of the continued restructuring of WPP Media a.k.a. GroupM. The complaint also alleges that in a same-day press release, WPP further announced that CEO, defendant Mark Read, "will retire from the Board and as CEO on 31 December 2025." On this news, the price of WPP stock fell more than 18%, according to the complaint.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired WPP common stock during the Class Period to seek appointment as lead plaintiff in the WPP class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the WPP class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the WPP class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the WPP class action lawsuit.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices. 

Contact:

Robbins Geller Rudman & Dowd LLP
J.C. Sanchez, Jennifer N. Caringal
655 W. Broadway, Suite 1900, San Diego, CA 92101
800-449-4900
[email protected]

SOURCE Robbins Geller Rudman & Dowd LLP

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, /PRNewswire/ -- SunTx Capital Partners ("SunTx"), a leading Texas-based private equity firm that invests in construction materials, manufacturing, distribution and service companies, and Haymaker Acquisition Corp. 4 (NYSE: HYAC) ("Haymaker"), a publicly traded special purpose acquisition company, today announced that SunTx's portfolio company, Concrete Partners Holding, LLC ("Suncrete" or the "Company"), will pursue a listing on the New York Stock Exchange through a proposed business combination (the "Business Combination" or "Transaction") with Haymaker that is expected to close in the first quarter of 2026. Upon closing of the Business Combination, the combined company will be named Suncrete, Inc. ("PubCo").

SunTx is excited to partner with Haymaker to bring Suncrete to the public markets.
Suncrete is a ready-mix concrete logistics and distribution platform operating in a mission critical segment of the construction value chain with an established base of high-quality concrete plants and tech-enabled mixer trucks that are strategically located in Oklahoma and Arkansas with plans to expand throughout the high-growth Sunbelt region of the United States, benefitting from attractive population, housing and infrastructure growth tailwinds.
Suncrete is a growth company executing a proven and repeatable strategy to gain scale in the highly fragmented U.S. ready-mix concrete industry through a local market, focused, and hub-and-spoke operating model. Ready-mix concrete is a highly-fragmented landscape with over 3,000 concrete plants in the Sunbelt region and an industry-wide generational ownership transfer in progress.
Suncrete anticipates growth based on a proven strategy of both organic and acquisitive revenue growth, supported by a balanced approach of serving infrastructure, commercial and residential end market customers, resulting in a durable, resilient business model. The ready-mix concrete industry is attractive given its highly-fragmented and localized markets with limited acquirors. Suncrete currently has a significant, actionable acquisition pipeline and is in ongoing discussions with targets operating in new and existing Sunbelt states.
Suncrete has industry-leading profitability from sophisticated operations, with industry-leading cash conversion and Adjusted EBITDA margins.
It is anticipated that PubCo will have a total enterprise value of approximately $972.6 million. PubCo's acquisition strategy is expected to be supported by a combination of cash in Haymaker's trust account, plus anticipated proceeds from a common stock private placement of $82.5 million, raised from institutional investors.

Key Financial Highlights

SunTx sponsored the formation, growth and listing of Construction Partners, Inc. (NASDAQ: ROAD), which has delivered a 10x increase in its stock price since its IPO.
Haymaker is led by a four-time SPAC sponsor (including three prior successful de-SPAC transactions) and private equity manager with extensive public board experience with decentralized service models such as Suncrete.
Compelling Business Combination with post-close funding capacity to execute robust growth strategy.
Approximately $972.6 million pro forma enterprise value (based on estimate of $11.37 in trust per share at the closing of the Business Combination).
Significant acquisition pipeline and no secondary proceeds to current shareholders.
Successfully obtained common stock PIPE commitments totaling $82.5 million from institutional investors.
Use of proceeds intended to fund future acquisitions.
Management Comments
Ned N. Fleming, III, Founding Partner of SunTx, commented, "This strategic transaction positions Suncrete as a leading publicly traded ready-mix concrete platform across Oklahoma and Arkansas with plans to expand throughout the rapidly growing U.S. Sunbelt region. Suncrete's leadership team is top-tiered and has grown the business in excess of twenty percent annually since its inception in 2008 by executing a proven, repeatable and scalable strategy of growing local relative market share, entering new markets with accretive acquisitions, and operating with an industry-leading margin profile. The ready-mix concrete industry in the Sunbelt is highly-fragmented, consisting primarily of smaller, privately owned companies, many of which are going through generational transitions. We believe this will benefit Suncrete as we seek to execute on our acquisition strategy and expand our footprint in the Sunbelt. In addition, we are excited to partner with Haymaker. Combining with Haymaker provides a professional, sophisticated and experienced strategic partnership. This partnership has been critical to achieving commitments from institutional investors of $82.5 million in a common stock private placement, which provides considerable runway to execute the Company's growth objectives."

Fleming continued, "We firmly believe that Suncrete's high-performance and scalable ready-mix concrete platform is well-positioned to continue its relative market share expansion, driving organic growth while expanding to new markets through accretive acquisitions. Suncrete's local market leadership, scale and operational blueprint positions the business as a trusted partner in some of the nation's most attractive and resilient construction markets."

Randall Edgar, CEO of Suncrete, stated, "We are pleased to partner with SunTx, and we greatly value their participation in our shared vision. We are also excited to enter the public markets, and we aim for profitable growth to enhance shareholder value. Ready-mix concrete is a logistics business that combines raw materials, mixes them on delivery to the job site and provides materials on time, on spec to the customer. Our primary mission is to serve our customers. We believe we cultivate a competitive advantage in our service to customers by making our people, culture, and safety top priorities. Through this approach, we are able to leverage scale to be a leader in our local markets, improve purchasing power and apply operational best practices across our footprint. Through our team's substantial operational experience in executing a proven and repeatable strategy, one that we have developed over decades, we believe we can continue to gain scale and grow in the highly-fragmented ready-mix concrete industry across the high-growth Sunbelt region of the United States."

"We are thrilled to partner with Suncrete and its impressive and experienced operational leadership team to scale a leading ready-mix concrete logistics and distribution platform company in the high-growth Sunbelt region of the United States," said Andrew R. Heyer, Vice President of Haymaker. "We see a tremendous market opportunity in the ready-mix concrete industry, and we look forward to working with Suncrete and SunTx to achieve our mutual goals."

Key Transaction Terms
The Transaction, which has been approved by the board of managers of Suncrete and the board of directors of Haymaker, is subject to approval by Haymaker's shareholders and certain of the Company's equityholders and other customary closing conditions. The Business Combination is expected to be completed in the first quarter of 2026.

Advisors
Jefferies is acting as financial advisor and lead capital markets advisor to the Company as well as lead placement agent on the private placement. Baird and Roth Capital Partners, LLC are acting as co-placement agents on the private placement. Haynes and Boone, LLP is acting as legal advisor to the Company. Cantor Fitzgerald & Co., William Blair & Company, L.L.C., and Roth Capital Partners, LLC served as underwriters for Haymaker's IPO in July 2023. DLA Piper LLP (US) and Ellenoff Grossman & Schole LLP are acting as legal advisors to Haymaker. White & Case LLP is acting as legal advisor to the financial advisors and private placement agents.

About Suncrete
Suncrete is a pure-play ready-mix concrete company strategically positioned across Oklahoma and Arkansas with plans to expand throughout the rapidly growing and economically resilient U.S. Sunbelt region. Suncrete is a scalable and vertically integrated logistics and distribution platform operating as a mission-critical partner in the construction value chain. The Company operates batching plants, a dedicated fleet of owned mixer trucks and a tech-enabled dispatch infrastructure supporting a diversified customer base across public infrastructure, commercial and residential sectors. Headquartered in Tulsa, Oklahoma, Suncrete operates under a decentralized plant network strategy with regionally centralized oversight of pricing, customer relationships and fleet utilization with consistent customer engagement across markets to deliver products on time and on spec. Suncrete's local market leadership, scale and integrated logistics position it as a trusted partner in some of the nation's most attractive, fastest growing, and most resilient construction markets. The Company is well-aligned to benefit from ongoing population growth, urbanization trends and infrastructure investment across the Sunbelt.

About SunTx Capital Partners
SunTx Capital Partners, LP, is a Dallas, TX-based private equity firm that invests in leading middle market infrastructure, manufacturing and service companies. The firm has been listed as a TOP 50 PE Firm in the Middle Market every year since 2021. SunTx specializes in supporting talented management teams in industries where SunTx can apply its operational experience and financial expertise to build leading middle-market companies with operations typically in the Sunbelt region of the United States. The capital committed by SunTx comes from the principals of SunTx as well as from institutional investors, including university endowments, corporate and public pension funds.

About Haymaker Acquisition Corp. 4
Haymaker Acquisition Corp. 4 is a blank check company formed for the purpose of effecting a business combination, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Haymaker is led by Vice President Andrew Heyer and Chief Executive Officer and Chief Financial Officer Christopher Bradley.

Additional Information and Where To Find It
In connection with the Business Combination, PubCo and Suncrete intend to file with the United States Securities and Exchange Commission (the "SEC") a registration statement on Form S-4, which will include a proxy statement with respect to Haymaker's shareholder meeting to vote on the Transaction and a prospectus with respect to PubCo's securities to be issued in connection with the Transaction (the "proxy statement/prospectus"), as well as other relevant documents concerning the Transaction. After the registration statement is declared effective by the SEC, the definitive proxy statement/prospectus included in the registration statement will be mailed to the shareholders of Haymaker as of the record date to be established for voting on the Business Combination. INVESTORS AND SHAREHOLDERS OF HAYMAKER ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT/PROSPECTUS REGARDING THE BUSINESS COMBINATION WHEN IT BECOMES AVAILABLE, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and shareholders will be able to obtain a free copy of the proxy statement/prospectus, as well as other filings containing information about PubCo, Haymaker and Suncrete, without charge, once available, at the SEC's website, http://www.sec.gov.

No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the Transaction. This press release shall also not constitute an offer to subscribe for, buy or sell, the solicitation of an offer to subscribe for, buy or sell or an invitation to subscribe for, buy or sell any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the Transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the "Securities Act"), and otherwise in accordance with applicable law.

Participants in Solicitation
Each of Haymaker, PubCo, and their respective directors, executive officers and certain other members of management and employees, may be deemed under SEC rules to be participants in the solicitation of proxies from Haymaker's shareholders in connection with the Business Combination. Information regarding the persons who may be considered participants in the solicitation of proxies in connection with the proposed Business Combination, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement/prospectus and other relevant materials when they are filed with the SEC. Information regarding the directors and executive officers of Haymaker is set forth in Part II, Item 10. Directors, Executive Officers and Corporate Governance of Haymaker's Annual Report on Form 10-K for the year ended December 31, 2024. Information regarding the identity of all potential participants, and their direct and indirect interests, by security holdings or otherwise, will be set forth in the proxy statement/prospectus and other relevant materials filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

Cautionary Statement Regarding Forward-Looking Statements
Certain statements herein and the documents incorporated herein by reference may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder, which statements involve inherent risks and uncertainties.

Examples of forward-looking statements include, but are not limited to, statements with respect to the expectations, hopes, beliefs, intentions, plans, prospects, financial results of strategies regarding Haymaker, Suncrete, PubCo, the Business Combination and statements regarding the anticipated benefits and timing of the completion of the proposed Business Combination and PIPE, plans and use of proceeds, objectives of management for future operations of Suncrete, expected operating costs of Suncrete and its subsidiaries, the upside potential and opportunity for investors, Suncrete's plan for value creation and strategic advantages, market site and growth opportunities, Suncrete's acquisition strategy, regulatory conditions, competitive position and the interest of other corporations in similar business strategies, technological and market trends, future financial condition and performance and expected financial impacts of the Business Combination, the satisfaction of closing conditions to the Business Combination and the PIPE and the level of redemptions of Haymaker's public shareholders, and PubCo's, Suncrete's and Haymaker's expectations, intentions, strategies, assumptions or beliefs about future events, results at operations or performance or that do not solely relate to historical or current facts. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "potential," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are based on assumptions as of the time they are made and are subject to risks, uncertainties and other factors that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence, which could cause actual results to differ materially from anticipated results expressed or implied by such forward-looking statements. Such risks, uncertainties and assumptions, include, but are not limited to:

the risk that the Business Combination and the PIPE may not be completed in a timely manner or at all;
the failure by the parties to satisfy the conditions to the consummation of the PIPE and the Business Combination, including the approval of Haymaker's shareholders;
the failure to realize the anticipated benefits of the Business Combination;
the outcome of any potential legal proceedings that may be instituted against PubCo, Suncrete, Haymaker or others following announcement of the Business Combination;
the level of redemptions of Haymaker's public shareholders, which may reduce the public float of, reduce the liquidity of the trading market of, and/or result in a failure to maintain the quotation, listing, or trading of the Class A ordinary shares of Haymaker;
the failure of PubCo to obtain or maintain the listing of its securities on any stock exchange on which the Class A common stock of PubCo will be listed after closing of the Business Combination;
costs related to the Business Combination and as a result of PubCo becoming a public company;
changes in business, market, financial, political and regulatory conditions;
risks relating to Suncrete's anticipated operations and business, including its ability to complete future acquisitions and the success of any such acquisitions;
the risk that issuances of equity or debt securities following the closing of the Business Combination, including issuances of equity securities in connection with Suncrete's acquisition strategy, may adversely affect the value of Suncrete's common stock and dilute its stockholders;
the risk that after consummation of the Business Combination, PubCo could experience difficulties managing its growth and expanding operations;
challenges in implementing Suncrete's business plan, due to operational challenges, significant competition and regulation;
those risk factors discussed in documents of PubCo, Haymaker or Suncrete filed, or to be filed, with the SEC.
The foregoing list of risk factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section Haymaker's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and the registration statement on Form S-4 and proxy statement/prospectus that will be filed by PubCo and Suncrete, and other documents filed or to be filed by PubCo, Haymaker and Suncrete from time to time with the SEC. These filings do or will identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. There may be additional risks that none of PubCo, Suncrete or Haymaker presently know or currently believe are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and none of the parties or any of their representatives assumes any obligation, or intends, to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. None of the parties or any of their representatives gives any assurance that PubCo, Suncrete or Haymaker will achieve its expectations.

Suncrete Investor Contact:
Rick Black / Ken Dennard
Dennard Lascar Investor Relations
[email protected]
(713) 529-6600

Haymaker Investor Contact
Christopher Bradley
[email protected]
212.616.9600

SOURCE SunTx Capital Partners

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, /PRNewswire/ -- Robbins LLP informs stockholders that a class action was filed on behalf of all persons and entities that sold short Marex Group PLC (NASDAQ: MRX) securities between August 14, 2024 and August 5, 2025. Marex is a U.K.-based diversified global financial services platform.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

The Allegations: Robbins LLP is Investigating Allegations that Marex Group PLC (MRX) Mislead Investors Regarding its Revenue Projections

According to the complaint, defendants failed to inform investors that it improperly inflated its cash flow and the revenues, assets, and profits of its Market Making segment through off-book intercompany transaction. As a result of this misconduct, class members have suffered significant loss and damages.

What Now: You may be eligible to participate in the class action against Marex Group PLC. Shareholders who wish to serve as lead plaintiff for the class must submit their papers to the court by December 8, 2025. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. 

To be notified if a class action against Marex Group PLC Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

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

SOURCE Robbins LLP

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VANCOUVER, BC / ACCESS Newswire / October 9, 2025 / George Sanders, President of Goldcliff Resource Corporation ("Goldcliff" or the "Company") (GCN:TSX.V)(GCFFF:OTCBB PINK) is pleased to announce the closing of the Company's second and final tranche of its non-brokered private placement previously announced on August 25, 2025 (the "Private Placement") through the issuance of an aggregate of 400,000 Flow Through shares (each, a "FT Share") at a price of $0.06 per FT Share for aggregate proceeds of $24,000. Under both tranches of the Private Placement, the Company raised aggregate proceeds of $211,500 through the issuance of an aggregate of: (i) 1,100,000 units (each, a "NFT Unit") for gross proceeds of $49,500; and (ii) 2,700,000 FT Shares for gross proceeds of $162,000.The Private Placement was conducted in reliance upon the Listed Issuer Financing Exemption under Part 5A of National Instrument 45 - 106 - Prospectus Exemptions.

Sharps Technology has transferred its $435M Solana treasury to Coinbase Prime, using the exchange's institutional-grade tools for custody and OTC trading as it strengthens its competitive position among Solana-focused treasury companies.

Ripple partners with Bahrain Fintech Bay to advance Web3 growth through pilot projects, ecosystem support, and event collaboration.The move strengthens RLUSD’s liquidity push, with its market cap nearing $1 billion despite limited user activity and adoption.Ripple’s Bahrain expansion builds on recent global partnerships, boosting exposure across Europe, East Asia, and Africa.Ripple just announced a new partnership in Bahrain, agreeing to help expand the kingdom’s Web3 infrastructure with pilot projects, participation in industry events, and more.

This could be a golden opportunity for the firm to expand its RLUSD user base, which is still rather tiny. However, the stablecoin’s liquidity is growing quickly and could potentially reach the $1 billion mark soon.

Sponsored

Sponsored

Ripple’s Bahrain DealRipple has been making significant progress in expanding its RLUSD stablecoin recently; in the last few months, new partnerships have expanded its market access in Europe, East Asia, and across the African continent.

Today, Ripple is gaining further global exposure thanks to a new partnership in Bahrain:

Next up → the Kingdom of Bahrain. 🇧🇭
We're expanding our presence in the Middle East through a partnership with Bahrain @FinTechBay: https://t.co/6ygStbtPPv

Building on our Dubai regulatory license, this move reinforces our commitment to the MENA region.

Together, we'll…

— Ripple (@Ripple) October 9, 2025
To be clear, Bahrain isn’t Ripple’s only expansion target at the moment; the firm also conducted top-level meetings in Luxembourg today. Still, this Bahrain deal has been finalized, and it offers many advantages.

The firm is partnering with Bahrain Fintech Bay, a financial incubator and ecosystem builder with important government partnerships.

Sponsored

Sponsored

Ripple hopes to expand Bahrain’s Web3 ecosystem in a variety of ways, supporting pilot programs and agreeing to take part in future industry conferences.

RLUSD isn’t a centerpiece of this agreement, but it does play a notable role, as Ripple will integrate it with Bahrain’s financial institutions. Furthermore, this partnership comes at an interesting moment for the firm and its stablecoin.

Ripple hasn’t just pursued regulatory acceptance for this token; it’s been continually building liquidity for several months. RLUSD’s market cap is rapidly approaching $1 billion, an impressive milestone:

RLUSD Market Cap. Source: CoinGeckoDespite this impressive liquidity, however, RLUSD’s actual user activity is lagging far behind.

On-chain data currently shows that average daily users hover around 500, and it hasn’t hit 700 in the last 12 months. In other words, actual adoption in regions like Bahrain could be very critical to Ripple’s long-term success with RLUSD.

With a daily transaction volume of roughly $80 million, Ripple has a lot of work ahead of it if the firm wishes to seize a piece of the lucrative stablecoin market.

Hopefully, this Bahrain expansion can help it achieve these goals.

Disclaimer

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Dogecoin (DOGE) has recently seen renewed optimism among traders following a breakout above a long-term resistance trendline. Crypto analyst Dima Potts pointed out that DOGE's previous cycles have shown explosive growth after similar technical patterns, with past rallies multiplying the price 83x and 183x.

With capital seeking refuge in digital assets, crypto scams are on the rise again, puzzling Web3 dwellers.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Square has rolled out a new payment and wallet package called Square Bitcoin, aimed at letting small shops accept and manage bitcoin inside the same system they already use for sales and money management.

According to Square, the package includes Bitcoin Payments, Bitcoin Conversions, and a built-in Bitcoin Wallet, and it was announced as part of the company’s second Square Releases event.

Square Makes Bitcoin Part Of Daily Sales
Reports have disclosed that Bitcoin Payments will let sellers take bitcoin at the point of sale with zero processing fees for the first year.

Merchants will be able to choose whether to hold the Bitcoin they receive or convert it into US dollars. Bitcoin Conversions can automatically turn a share of daily card receipts into bitcoin — up to 50% of daily sales — so businesses can quietly build a bitcoin reserve without extra steps.

Square, the merchant services unit of the Jack Dorsey-led Block Inc., also says the Wallet will let sellers buy, sell, hold, and withdraw bitcoin from the same Dashboard they use for payroll and inventory.

BTCUSD now trading at $121,178. Chart: TradingView
Early Beta Shows Some Uptake
Square first offered Bitcoin Conversions to a limited group in 2024. Based on reports from the company, those early users had accumulated 142 bitcoin as of October 1, 2025.

This figure gives a concrete sense of how the tool has been used so far, though it does not speak to the distribution of that bitcoin across businesses or how many shops hold versus convert.

Square Banking, which the company launched in 2021, has already been used by many sellers for basic cash management, and this new step brings crypto tools into that existing flow.

More Choices For Small Sellers
Accepting bitcoin could mean lower visible costs for some sellers. Reports have disclosed that Square is pitching near-instant settlement and reduced fee exposure as reasons merchants might prefer bitcoin payments over other methods.

Sellers keep the option to receive sales in US dollars. The point is choice: shops can accept new forms of payment while keeping familiar money controls in place.

Tools Tied Into A Bigger Vision
Block, Square’s parent company, has been building other bitcoin products for years. Based on reports, those pieces include Cash App’s bitcoin features, Bitkey for self-custody, Proto mining gear, and Spiral, which funds open-source bitcoin projects.

The new Square Bitcoin offering is presented as another link in that chain, letting businesses interact with bitcoin at the checkout and on the books.

Featured image from Pixabay, chart from TradingView

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Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Bitcoin traded just above $121,000 on Wednesday, holding onto gains after a drop from a recent peak above $126,000. According to analyst Egrag Crypto, a small market move could trigger a much larger rally, building on a pattern he says has repeated across past cycles.

Historic Channel Breakouts
Egrag’s view is based on a three-month look at price channels that, he argues, have preceded major rallies. Based on reports, similar channel breakouts were visible before the 2013 surge to about $1,163, the 2017 rise past $19,000, and the 2020–2021 rally that pushed prices above $69,000.

He says the current channel began forming in April 2022, and that a modest “blip” upward could push Bitcoin to $175,000. That target would require roughly a nearly 43% rise from $122,620. Short-term swings have ranged from $115,000 to $125,000 this week, while the present price sits near $121,900.

#BTC – $175K Is Just a Blip:

If we look at the historical behavior of #BTC on a 3-month time frame, we can see a clear channel formation. In the past three cycles, we’ve consistently seen a breakout at the end of these channels. While diminishing returns are evident, they are… pic.twitter.com/TabFoVlXBT

— EGRAG CRYPTO (@egragcrypto) October 8, 2025

Targets And Risks To Watch
Egrag outlined a range of possible outcomes. He placed $175,000 as his primary target. He also suggested a midpoint near $250,000 and an upper scenario around $400,000. Those are ambitious numbers. They are presented as part of a longer-term view rather than promises of an immediate move.

The analyst compared his Bitcoin call to a past gold forecast—he set a $3,500 target for gold that later saw prices near $4,000—using that as a reference for his forecasting approach.

BTCUSD currently trading at $122,036. Chart: TradingView
At the same time, on-chain data offer a mixed picture. Blockchain analytics firm Glassnode reported that 97% of Bitcoin’s supply is now in profit following the recent rally.

That high level of realized profit suggests many holders sit above their purchase price. Some analysts interpret elevated profit as a sign that markets may pause so investors can take gains.

Others point to crowded positions and rising leverage as signs that short-term volatility could increase. Reports have disclosed concern about what some call a “Suckers Rally,” a spike that tempts late buyers and is followed by a drop.

Market Behavior And Investor Moves
Accumulation has been visible in many wallets. Some investors reallocated gains rather than selling out entirely, which, according to reports, can indicate a controlled rotation of capital rather than a panic sell-off.

Featured image from Pixabay, chart from TradingView

After years of stagnation, XRP could be days away from a major impulsive move as technicals align for a wave-three surge.

Ripple (XRP) climbed to $3.10 last week, but a wave of profit-taking erased the gains and pushed it back to $2.80. But the crypto asset is showing powerful breakout signals, with key Fibonacci supports holding firm.

Crypto analyst CasiTrades believes XRP may be on the verge of a major breakout, citing strong technical signals and a completed consolidation pattern that could set the stage for an impulsive upward move.

XRP Breakout Brewing
According to her analysis on X, XRP’s recent price action shows strength, as all local lows have held above the macro 0.5 Fibonacci retracement level at $2.79, a critical support zone that has withstood multiple retests. She noted that the asset has broken out of its consolidation structure, followed by a successful backtest that aligned with the 0.618-0.65 golden retracement levels, reinforcing bullish momentum.

From an Elliott Wave Theory standpoint, CasiTrades explained that XRP may currently be forming a subwave 2, potentially preceding a larger wave 3 rally. Consolidation, she added, often serves to “exhaust the market and confuse traders,” but the failure to break below major support levels typically indicates strength.

“The fact that nothing has fallen through is technically a bullish sign. Markets don’t typically top with consolidation, so most likely we’ll see a wave to new ATHs!”

Drawing historical parallels, the analyst recalled XRP’s seven-year consolidation before its previous breakout from $0.50 to $3.66, and described it as a precedent for long-term accumulation phases leading to explosive rallies. While near-term price surges could be limited to the $4.50-$6.50 range, she maintains that macro targets between $8 and $13 remain achievable if momentum continues.

Whale Exodus and Bearish Patterns
Not everyone shares the growing optimism around XRP’s price trajectory. Another prominent crypto analyst, Ali Martinez, observed that XRP is moving within a descending triangle pattern, a formation that typically leads to a breakout or breakdown. The crucial level to watch, he noted, is $2.72, which has held since July.

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Meanwhile, Veteran trader Peter Brandt compared XRP’s current formation to a 1946 chart of Revere Copper & Brass, and warned that a close below $2.687 could trigger a decline toward $2.22.

The sale of 440 million XRP by whales in just 30 days further highlighted the short-term risk surrounding the token’s price outlook. Wallets holding between 1 million and 10 million XRP have collectively reduced their balances from 6.95 billion to 6.51 billion XRP over the past month. This offloading coincides with XRP’s recent decline, which could intensify downside pressure if sentiment does not recover.

Journalist

Posted: October 10, 2025

Key Takeaways
Why is Roger Ver’s settlement significant?
It ends one of crypto’s longest-running tax disputes and shows Washington’s shift from prosecution to negotiation.

What does it reveal about Trump’s policy direction?
The administration is softening its stance on crypto, favoring deals and deregulation over courtroom battles.

Roger Ver, one of Bitcoin’s earliest and most controversial advocates, has reportedly reached a tentative $48 million settlement with U.S. prosecutors to end his criminal tax fraud case.

According to The New York Times, the agreement would allow Ver to avoid prison time if he complies with the terms of a deferred-prosecution deal, a mechanism that drops charges once full payment and cooperation are completed.

The case stems from Ver’s alleged failure to pay taxes on his Bitcoin holdings before renouncing his U.S. citizenship in 2014. This process triggers the IRS “exit tax” on unrealized gains.

Crypto, expatriation, and the ‘exit tax’ problem
Ver’s case has drawn attention for exposing the tax complexities of leaving the United States while holding volatile digital assets.

The IRS exit-tax framework was designed for traditional portfolios; however, in practice, it can be challenging to value cryptocurrency at the time of expatriation accurately.

Price volatility, proof of custody, and off-exchange holdings often create subjective compliance, leading to gray areas for investors.

The Ver deal could establish an informal precedent for how authorities treat such cases in the future: settlement over prosecution.

A new tone from Washington
The settlement reflects a broader shift under President Trump’s second administration, which has moved away from the aggressive enforcement posture seen under the Joe Biden administration.

The Justice Department’s crypto enforcement unit was quietly restructured earlier this year. Also, the SEC dropped or settled multiple lawsuits against U.S. exchanges, including Coinbase and Kraken.

Trump has also signaled broader pro-crypto sentiment, from pardoning Silk Road founder Ross Ulbricht and the BitMEX founders, to backing the creation of a Strategic Bitcoin Reserve as part of his “America First in Finance” agenda.

Ripple effects for crypto regulation
Legal experts note that deferred prosecution in a tax-related crypto case of this scale is rare.

It suggests regulators are now more willing to treat crypto violations as compliance issues rather than criminal offenses.

That shift could reshape enforcement expectations for other ongoing cases — including Binance’s Changpeng Zhao, who is seeking a pardon, and executives facing similar tax or registration claims.

A turning point for ‘Bitcoin Jesus’
For Ver, often called Bitcoin Jesus for his early evangelism, the proposed settlement marks the end of a decade-long confrontation with the U.S. government.

If approved by the court, the agreement would close one of the last major tax-related cases from the early Bitcoin era, sending a clear message about the U.S. stance on crypto.

Gemini AI Predicts XRP could approach $10, Cardano may climb toward $2.80, and Pepe has approached a retest of prior highs. Uptober has supported momentum, and expectations for U.S. policy updates and ETF decisions have guided risk appetite into late 2025.

Falcon Finance has secured a $10 million strategic investment from M2 Capital to advance its universal collateralization infrastructure for onchain liquidity and yield.