Market Signal Briefing

Journalist

Posted: December 17, 2025

Toncoin [TON], the native token of The Open Network (TON), saw a bullish performance in the past 24 hours. The token gained 2.6% to trade at $1.53 at the time of writing, with a market capitalization of $3.77 billion.

On the 16th of December, the TON Foundation selected OpenPayd to provide the ecosystem’s global fiat infrastructure. The partnership allows fiat flows to and from ecosystem partners and operational activities across multiple regions.

The news announcement might be behind the minor TON rally over the previous day. What was the token’s long-term trend like, and where is the price likely to go next?

Multi-timeframe analysis of Toncoin

Source: TON/USDT on TradingView

On the 1-day chart, the swing structure was bearish, evidenced by the sharp move down from $2.16 to $1.45. The internal structure attempted to turn bullish but failed at the imbalance between $1.6-$1.7 (white box).

Despite the failure to break this supply zone, the A/D indicator had climbed higher to suggest buyers had a slight short-term advantage. At the same time, the RSI remained below the neutral 50, and the Stochastic RSI was falling further.

Together, the indicators showed that momentum favored the sellers. A move beyond $1.7 could see TON bounce higher to test the key Fibonacci retracement levels overhead at $1.89 and $2.01.

Source: TON/USDT on TradingView

The 1-hour chart revealed a short-term supply zone at $1.56-$1.58.While the indicators showed some buying strength and upward momentum, TON faced rejection from the overhead resistance. Bears still controlled the trends, short-term and long-term.

Possible bullish scenario
The less likely route ahead for Toncoin is a clean breakout past the $1.7 resistance zone.

In this scenario, strong bullish impetus across the market would drive increased capital flow into TON, resulting in a rally beyond $2.

Traders, use THIS liquidity pocket to sell
A bounce in the short term to $1.7 is possible. It would be extremely difficult for TON bulls to push any higher.

This was because of the dense cluster of short liquidations around $1.7, which would likely drag prices to it and possibly as high as $1.8.

Given the structure and lack of consistent demand on the 1-day timeframe, and the market-wide sentiment recently, it seemed much more likely that TON would face a bearish reversal at $1.7 than a sustainable bullish breakout.

Final Thoughts

Toncoin saw a minor rally over the past 24 hours as it challenged a local resistance zone at $1.58.
This bounce could extend to $1.7, but likely not much higher, and would be followed by a bearish move.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

XRP, the native cryptocurrency of the Ripple ecosystem, is down by less than 1% over the last 24 hours, recovering from a significant drop on Tuesday.

The dump saw XRP retest the $1.85, but it is now trading at $1.91 per coin.

However, market sentiment remains poor, and XRP could record further losses in the near term. 

XRP remains under pressure amid low retail interest 
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XRP lost its fourth position in the market to Binance’s BNB coin after underperforming in recent days.

The bearish performance comes amid low retail interest in the cryptocurrency.

Data obtained from CoinGlass shows that XRP’s futures Open Interest (OI) stands at $3.71 billion, down from $3.72 billion the previous day.

Demand for XRP derivatives has been relatively low since the October 10 crash, which resulted in over $610 million in long positions being liquidated, while short traders also lost approximately $90 million. 

The OI on July 22, when XRP hit its recent high, was $10.94 billion, indicating that the OI has dropped by nearly 70% over the past six months.

This suggests that investors have lost faith in XRP’s ability to maintain an uptrend.

For XRP to rally and stay above the $2.0 psychological level in the near term, a sustained recovery in XRP’s OI will be crucial. 

However, despite the poor retail interest, spot Exchange Traded Funds (ETFs) listed in the United States (US) have extended their inflow streak to 21 consecutive days. 

Thanks to the accumulation, the cumulative inflow volume has reached $1 billion, boosting net assets to $1.12 billion. This shows that institutions are showing interest in XRP. 

XRP could face further downside pressure
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The XRP/USD 4-hour chart is bearish and inefficient, with the inefficiency caused by the October deleveraging event.

Since then, XRP has failed to rally to the $2.7 level to gain efficiency. 

The cryptocurrency lost 7.5% of its value in the last seven days, making it the second consecutive week of losses.

At press time, XRP hovers around $1.91.

The technical indicators remain bearish, suggesting further downward movement.

The Moving Average Convergence Divergence (MACD) indicator sits below the zero line on the 4-hour chart, indicating that traders should reduce their exposure to the market. 

The Relative Strength Index (RSI) at 34 is below the midline and consistent with lingering downside pressure. 

If the bearish trend continues, XRP could retest the $1.77 support level over the next few hours or days.

The next major support level stands around the $1.45 region. 

However, if the bulls regain control of the market, XRP could recapture the $2.0 psychological level before rallying to $2.35.

Bitcoin price's $87,106, anchoring a $1.73 trillion market with $42.92 billion in 24-hour trading volume and a tightly wound price band between $86,282 and $87,918, reflects a market idling at the intersection of caution and fatigue.

Bitcoin mining company Hut 8 signed a 15-year, $7 billion lease to deliver 245 megawatts of artificial intelligence data center capacity at its River Bend campus in Louisiana, marking one of the biggest infrastructure agreements between a crypto-native company and hyperscale AI demand. 

Hut 8 announced on Wednesday that infrastructure provider Fluidstack will lease the capacity, while Google will provide a financial backstop covering lease payments and related obligations over the 15-year base term. This means that Google will cover the payments if Fluidstack is unable to pay the costs.

“River Bend reflects the strength of Hut 8’s power-first, innovation-driven development model, validated by the world-class counterparties we are executing alongside,” said Hut 8 CEO Asher Genoot, adding that the agreement was a result of disciplined and patient execution.

The company said initial construction was already underway, with the first data hall scheduled for completion and commissioning in the second quarter of 2027. Additional data halls are expected to come online over the next year. 

Source: Hut 8Google backstop and institutional financing de-risk lease deliveryA defining feature of the deal is Google’s role as a financial backstop, covering both pass-through obligations and lease payments during the base term. 

Hut 8 and Fluidstack are also expected to execute an operations services agreement for ongoing data center management, backed by an additional payment guarantee from Google. 

The project will be financed using loans tied directly to the data center, with major banks expected to cover most of the construction cost, reducing the amount of capital Hut 8 needs to invest upfront.

“River Bend demonstrates how, when Hut 8 brings together innovative thinking, an aligned team, and institutional discipline, it translates into real, enduring value,” said Noah Wintroub, global chairman of investment banking at JPMorgan Chase.

The agreement deepens Hut 8’s involvement in the AI sector, which started in 2024. In September 2024, Hut 8 launched a GPU-as-a-Service offering through its new subsidiary, Highrise AI. With the pivot, Hut 8 deployed over 1,000 Nvidia H100 GPUs to drive its cloud-based AI compute services.

Crypto-native firms to earn billions in the AI sectorIn June, Core Scientific announced a $3.5 billion deal with AI cloud provider CoreWeave to rent out its infrastructure over a 12-year term. The deal is expected to generate an annual revenue of $290 million for Core Scientific. 

In August, Galaxy Digital accelerated the expansion of its Helios AI data center in Texas after securing a $1.4 billion loan that will cover about 80% of the project’s construction costs.

AI infrastructure firm CoreWeave also signed a 15-year agreement to lease power, cooling and physical data center infrastructure from Galaxy Digital to support its AI and high-performance computing operations. The deal is expected to generate about $1 billion in annual revenue for Galaxy

Magazine: Koreans ‘pump’ alts after Upbit hack, China BTC mining surge: Asia Express

55 Million XRP Moves from BTC Markets in Low-Fee Multi-Signature TransactionMarket analyst Xaif Crypto reports a massive 55M XRP moved from BTC Markets via a multi-signature transaction, costing just 0.000045 XRP, showcasing XRP’s network efficiency for large transfers.

Large exchange-linked transfers like this typically reflect strategic institutional activity, such as liquidity management, custody reshuffling, or OTC trades, rather than retail-driven market moves. 

These transactions are aimed at optimizing operations and balancing reserves, not signaling sudden shifts in investor sentiment.

Utilizing a multi-signature wallet enhances both security and oversight. By requiring multiple private keys to authorize a transaction, multi-sig wallets minimize unauthorized access and safeguard institutional assets, making them a standard for exchanges and custodial services managing high-value cryptocurrency transfers.

Therefore, the 55 million XRP transfer highlights the coin’s growing role in institutional crypto operations. With low fees, rapid settlement, and a scalable network, XRP is ideal for large-scale exchange and custody movements. 

Such transactions offer a window into the sophisticated, behind-the-scenes management of digital assets, contrasting sharply with visible retail activity and underscoring the strategic nature of institutional flows.

XRP Eyes Critical $1.90 Level as Next Milestone LoomsRenowned analyst Ali Martinez highlights $1.90 as a crucial level for XRP, a threshold that could determine whether the crypto sustains its bullish momentum or faces a pullback.

Source: Ali Martinez$1.90 isn’t just a price, it’s a pivotal battleground. Staying above it signals strength and sets the stage for the next target at $2.50.

XRP has surged in recent weeks, driven by rising institutional interest and anticipation of spot ETFs. Analysts note that growing adoption in cross-border payments makes it one of 2025’s most watched altcoins. 

Yet, technical factors remain key: $1.90 has repeatedly served as a pivot, with consolidation above it potentially opening the path to $2.50, while a break below could trigger short-term selling with the present price being $1.91. 

According to Martinez, the $2.50 level isn’t arbitrary, it aligns with Fibonacci retracements and prior swing highs, making it a natural target for XRP bulls. Traders will watch volume, momentum, and broader market sentiment, including regulatory developments, to guide entries and exits. 

Martinez highlights a larger trend where XRP is steadily moving from speculation toward mainstream financial integration, with $1.90 holding the key to unlocking potential gains to $2.50 and beyond.

ConclusionThe 55 million XRP transfer underscores the strategic, institutional maneuvers shaping the crypto market. Rather than retail speculation, such large movements reflect liquidity management, custody operations, and OTC flows, depicting XRP’s growing role as a fast, low-cost, and trusted tool for exchanges and institutional players in the evolving digital asset landscape.

On the other hand, XRP’s hold at $1.90 will be pivotal for its near-term trend. A sustained breach could trigger a run toward $2.50, signaling renewed confidence from retail and institutional investors. 

More than just a price point, $1.90 marks the line between consolidation and a potential bullish breakout, making the coming days crucial for XRP’s momentum.

Solana-based prediction market Space launches its SPACE token sale with variable pricing, leveraged CLOB trading, buyback-and-burn tokenomics and tiered rewards.

Summary

Space is a Solana prediction market offering up to 10x leveraged trading on crypto, politics, sports, tech and culture via a zero‑maker‑fee central limit order book.​
The public sale uses a market‑clearing price model, buyback‑and‑burn of 50% of protocol revenue and tiered contributions that unlock airdrops, fee discounts and lifetime perks.​
Built by the team behind UFO, Space raised seed and strategic funding led by Morningstar Ventures and Arctic Digital, with oversubscribed backing from Echo and Curated by Impossible Finance.

Space, a leveraged prediction market platform built on the Solana blockchain, announced Tuesday the public sale of its native token, SPACE, scheduled to begin December 17 at 6:00 PM UTC.

The platform allows users to trade predictions on real-world outcomes across cryptocurrency, politics, sports, technology and culture with up to 10x leverage, according to the company’s announcement.

Space operates with a tokenomics model allocating half of platform revenue to token buyback and burn mechanisms, while the remaining half goes to the protocol treasury, the company stated. The total token supply is set at 1 billion SPACE tokens.

The platform was developed by the team behind UFO, a cryptocurrency project that achieved significant market capitalization in 2021, according to the announcement.

Solana and Space market offering
Space’s technical features include a central limit order book with zero maker fees, up to 10x leverage on predictions, gamified points and ranking systems with seasonal airdrops, and liquidity and referral rewards, the company reported.

The project secured seed and strategic funding led by Morningstar Ventures and Arctic Digital, with additional participation from Echo and Curated by Impossible Finance, according to the announcement. The Echo round was reportedly oversubscribed.

The public sale will employ a variable token distribution model, with tokens distributed based on a final market-clearing price to ensure all participants receive identical pricing, the company stated. The sale will begin at a floor valuation and remain at that level until reaching an initial target. Following that threshold, the sale enters price discovery with the fully diluted valuation increasing linearly to a predetermined ceiling.

At the sale’s conclusion, all participants will pay the same clearing price, according to the announcement. If demand exceeds available tokens at the final price, the company stated it will manage allocations and refund excess contributions.

The sale incorporates a tiered participation structure based on timing, with earlier commitments receiving higher tiers. Higher tiers provide increased allocation likelihood and unlock bonus airdrops, lifetime platform perks and benefits, the company reported. Tier benefits include bonus token airdrops, points multipliers, lifetime referral multipliers on trading fees, and a 12-month trading fee discount.

A minimum contribution is required to unlock tier rewards, though no minimum is required for basic sale participation, according to the announcement. Users’ contributions are cumulative, but tier achievement requires meeting the minimum during the tier’s active 24-hour window. Once secured, tiers transfer permanently to users’ Space profiles.

In cases of oversubscription, the company stated it will manage allocations to ensure fairness, with refund criteria to be disclosed after the sale concludes.

Refunds will be issued immediately following the sale’s close, according to the announcement. The token generation event will occur after the public sale, with platform launch scheduled for January 2026.

Participation requires a self-custodial wallet, with Phantom recommended, and desktop access for optimal experience, the company stated. The announcement specified that users should not send contributions from centralized exchanges.

Space aims to address liquidity challenges common in prediction markets through its combination of central limit order book technology, leverage options and zero maker fees, according to the company.

While the cryptocurrency market appears to be ending the year on a turbulent note, investors can look ahead to 2026 as several altcoins present attractive investment opportunities.

Rather than relying on broader market sentiment, select altcoins are likely to rally due to a combination of real-world utility, technological innovation, and expanding user adoption, positioning them to outperform more established assets.

Against this backdrop, Finbold has identified three compelling altcoins, driven by unique value propositions and catalysts that could support momentum in the year ahead.

Sui (SUI)
One project gaining attention for its potential to deliver outsized returns by 2026 is Sui (SUI). This next-generation layer-one blockchain is designed to offer high throughput and low transaction costs, making it appealing to developers building decentralized applications across decentralized finance, gaming, and other sectors.

Its architecture aims to address scalability bottlenecks that have challenged earlier networks, and as adoption increases, it could unlock demand not yet fully reflected in current valuations. 

The combination of technical scalability and ecosystem growth supports the view that Sui could see strong appreciation if network activity continues to expand.

By press time, SUI was trading at $1.48, having plunged 60% year to date.

SUI YTD price chart. Source: Finbold
XRP
XRP is another asset frequently highlighted in forward-looking market analysis. Its role in cross-border payments and settlement infrastructure sets it apart from many other tokens, particularly as regulatory clarity improves in key jurisdictions.

Ongoing efforts to integrate Ripple’s technology into traditional financial systems, alongside growing institutional interest in efficient global payments, create conditions that could drive renewed price gains.

Investors watching XRP into 2026 are closely focused on developments such as spot exchange-traded (ETFs) products and progress on legal clarity, both of which could significantly broaden participation. 

Notably, XRP’s spot ETF has been among the strongest performers in 2025, recording consistent inflows.

Despite this, much of XRP’s 2025 gains have been erased by the recent downturn, with the asset trading at $1.91 as of press time, down 8% year to date.

XRP YTD price chart. Source: Finbold
Toncoin (TON)
A third contender for significant growth in 2026 is Toncoin (TON). This altcoin benefits from deep integration with the Telegram messaging platform, giving its blockchain a meaningful advantage in terms of potential user reach.

Efforts to expand utility through decentralized applications, alongside upcoming features such as decentralized VPN services and distributed storage, aim to push the network beyond social and gaming use cases toward more substantive infrastructure functions.

At the time of reporting, TON was valued at $1.52, down roughly 70% year to date.

TON one-year price chart. Source: CoinMarketCap
These planned expansions reflect a roadmap focused on increasing utility and attracting a broader user base, which could support renewed market interest and price performance.

While outcomes are never guaranteed in the inherently volatile crypto market, the trends supporting these three digital assets suggest they may offer investors an opportunity to maximize returns heading into 2026.

Featured image via Shutterstock

The world’s highest IQ holder has said XRP could surpass Ethereum in market value in 2026 adding to a growing debate over the future of the two major cryptocurrencies.

YoungHoon Kim, who claims an IQ score of 276, said in a social media post that XRP could overtake Ethereum’s market capitalization by 2026. He added that his comment was a personal view and not financial advice.

In my view, #XRP could surpass the market cap of #ETH by 2026. (NFA / DYOR)

— YoungHoon Kim, IQ 276 (@yhbryankimiq) December 17, 2025 At present, Ethereum remains the second-largest cryptocurrency after Bitcoin. ETH was trading around $2,927 on Tuesday, up 0.77% over the past 24 hours, with a market value of about $353 billion. XRP was trading near $1.91, up 1.07%, giving it a market capitalisation of roughly $116 billion, according to market data.

Kim’s remarks are not the first prediction that XRP could challenge Ethereum’s position.

Earlier this year, Austin King, a Harvard-educated computer engineer and co-founder of the Omni Foundation, made similar comments in an interview on the Good Morning Crypto podcast. King said Ethereum is facing structural problems that could limit its long-term growth.

He argued that Ethereum has shifted away from its original vision of being a deflationary network. According to King, increased activity on Layer 2 networks has made Ethereum inflationary, meaning the total supply of ETH is now rising instead of falling.

King also raised concerns about centralisation, saying many Layer 2 solutions are run by single operators, which he believes weakens Ethereum’s decentralised nature. He added that Ethereum’s slow progress has contributed to investor pessimism, reflected in its weaker price performance compared with Bitcoin.

By contrast, King said XRP stands out due to its fixed supply of 100 billion tokens and its use cases in cross-border payments and asset tokenisation. While Ripple releases about 200 million XRP into circulation each month, King said the asset remains more stable than Ethereum.

For XRP to overtake Ethereum’s market value, its price would need to rise sharply. King estimated that XRP reaching around $6 could be enough to surpass Ethereum’s current market capitalization, assuming ETH remains near present levels.

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Crypto analyst Doctor Profit has revealed the next Bitcoin price level he is looking to accumulate at in anticipation of a relief rally. Despite plans to buy BTC, the analyst indicated that he is still bearish on the flagship crypto in the long term, with a larger decline expected to unfold. 

Analyst Reveals The Next Buy Level As Bitcoin Price Eyes Bounce
In an X post, Doctor Profit stated that he is buying BTC around $86,000 as he looks to trade a short-term relief bounce. He reiterated that he sees the probability of the Bitcoin price revisiting the $97,000 to $107,000 region before the next major leg lower unfolds. The analyst added that this projected move is a 20% from the current region, which presents a good risk-reward trade with a tight stop loss. 

Doctor Profit is known to have predicted the Bitcoin price top when it was trading at around $126,000. The analyst noted that he remains very bearish in the long term, expecting further declines. As such, he plans to play this move to buy BTC with absolute and the highest form of risk management. 

The analyst explained that this means he will ensure to place the stop loss at entry once in solid profit, while his short trade from between $115,000 and $125,000 will still be running. Doctor Profit further remarked that this long setup for the Bitcoin price is aimed at a few weeks only, before the bearish price action resumes with lower targets. 

BTC Remains “Extremely Unstable And Bearish”
Doctor Profit stated that the Bitcoin price remains extremely unstable and bearish for the mid-term, noting that a strong downside continuation can happen at any moment, even before the flagship crypto reaches the projected $97,000 to $107,000 zone. The analyst added that a deeper and faster sell-off is absolutely possible, so those looking to buy now should take extreme caution. 

Doctor Profit reiterated that his short positions remain fully open, as any upside is treated as distribution and liquidity for the next leg down. The analyst noted that the $70,000 region remains the main target. If the Bitcoin price manages to revisit the $97,000 to $107,000 region, he stated that he would fully take profit again on the position and add the profits to his short position. 

In the meantime, crypto analyst Ali Martinez has warned that the Bitcoin price needs to hold the $87,000 region or risk dropping to as low as $70,000. BTC is currently on the edge with Japan set to raise its interest rates this week. 

At the time of writing, the Bitcoin price is trading at around $86,600, up in the last 24 hours, according to data from CoinMarketCap.

BTC trading at $86,469 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Pixabay, chart from Tradingview.com

Highly Complementary Capabilities Will Create a Leading Technology Platform, Redefining Skills Discovery, Development, and Mastery for Learners and Organizations at Scale

Unites Udemy’s Dynamic AI-Powered Skills Development Marketplace with World-Class University and Industry Brands Under the Coursera Ecosystem, Expanding Value, Impact, and Choice Globally

Strengthens Combined Company’s Financial Profile with Pro Forma Annual Revenue of More Than $1.5 Billion and Anticipated Annual Run-Rate Cost Synergies of $115 Million Within 24 Months

Coursera and Udemy to Host Joint Conference Call Today, December 17, 2025, at 5:00 a.m. PT / 8:00 a.m. ET

MOUNTAIN VIEW, Calif. & SAN FRANCISCO--(BUSINESS WIRE)--Coursera, Inc. (NYSE: COUR) and Udemy, Inc. (NASDAQ: UDMY) today announced that they have entered into a definitive merger agreement under which Coursera will combine with Udemy in an all-stock transaction. Based on the closing prices of Coursera and Udemy common stock on December 16, 2025, the implied equity value of the combined company is approximately $2.5 billion.

“We’re at a pivotal moment in which AI is rapidly redefining the skills required for every job across every industry. Organizations and individuals around the world need a platform that is as agile as the new and emerging skills learners must master,” said Greg Hart, CEO of Coursera. “By combining the highly complementary strengths of Coursera and Udemy, we will be in an even stronger position to address the global talent transformation opportunity, unlock a faster pace of innovation, and deliver valuable experiences and outcomes for our learners and customers. Together, we will ensure our millions of learners, thousands of enterprise, university, and government customers, and expert instructors have a platform to keep pace with technology acceleration.”

“For more than 15 years, Udemy has helped millions of people master in-demand skills at the speed of innovation,” said Hugo Sarrazin, CEO of Udemy. “Through this combination with Coursera, we will create meaningful benefits for our learners, enterprise customers, and instructors, while delivering significant value to our shareholders, who will participate in the substantial upside potential of the combined company. As a united platform, we can accelerate our AI-powered product roadmap, expand our global reach through enhanced go-to-market capabilities, and unlock substantial revenue and operating synergies that will strengthen our long-term financial profile.”

Compelling Strategic and Financial Rationale

Greater Value, Impact, and Choice: Highly complementary Consumer and Enterprise segment strengths in skills, workforce training, and career advancement to deliver greater value to millions of learners and thousands of enterprise, university, and government customers, better positioning the combined company at a critical inflection point to address the rapidly evolving global talent transformation market.

Leading Platform Capabilities: Establishes a comprehensive ecosystem of world-class instructors, encompassing faculty at leading universities, industry leaders, and global subject matter experts, while equipping them with AI-enhanced tools, data-driven insights, and expanded distribution to create more engaging, personalized, and dynamic learning experiences at unprecedented scale, breadth, and agility.

Accelerated AI-Native Innovation: Leverages shared product, data, and technology investments to deliver verified skills, from discovery to mastery, that improve both career and business outcomes.

Enhanced Global Reach and Market Opportunities: Expands access to affordable, high-quality education through improved ability to attract, retain, and serve both individuals and enterprises worldwide with combined go-to-market capabilities, localization initiatives, and highly complementary strengths in core segments.

Stronger Long-Term Financial Profile: Generates meaningful operating efficiencies, including anticipated annual run-rate cost synergies of $115 million within 24 months of closing, and enhances capacity for sustained investment in AI-driven platform innovation, rapid product development, and durable growth initiatives.

Transaction Details

Under the terms of the definitive agreement, Udemy stockholders will receive 0.800 shares of Coursera common stock for each share of Udemy common stock, representing a 26% premium to the average closing prices of Udemy and Coursera over the last 30 trading days prior to announcement. Upon the closing of the transaction, existing Coursera stockholders are expected to own approximately 59% and existing Udemy stockholders are expected to own approximately 41% of the combined company, on a fully diluted basis. Based on the closing prices of Coursera and Udemy common stock on December 16, 2025, the implied equity value of the combined company is approximately $2.5 billion. Coursera anticipates that, following the closing of the transaction, the combined company will execute a sizable share repurchase program.

The transaction has been unanimously approved by the Boards of Directors of both Coursera and Udemy. The transaction is expected to close by the second half of 2026, subject to the receipt of required regulatory approvals, approval by Coursera and Udemy shareholders, and the satisfaction of other customary closing conditions. In connection with the transaction, Insight Venture Partners and New Enterprise Associates, key shareholders of Udemy and Coursera, respectively, as well as Andrew Ng, the Chairman of the Board of Directors of Coursera, have entered into support agreements and agreed to vote in favor of the transaction.

Please visit https://courseraandudemy.com for more information and updates about the transaction.

Leadership, Corporate Governance, and Headquarters

Upon the closing of the transaction, Greg Hart, Chief Executive Officer of Coursera, will continue as Chief Executive Officer of the combined company. The Board of Directors of the combined company will consist of nine directors, six from the Coursera Board, including Greg Hart and Andrew Ng, who will continue as Chairman of the Board, and three from the Udemy Board. The combined company will operate under the name Coursera, trade under the ticker symbol COUR on the NYSE, and be headquartered in Mountain View, California. Upon completion of the transaction, Udemy’s common stock will no longer be listed on NASDAQ.

Coursera’s status as a Public Benefit Corporation (PBC) remains unchanged.

Advisors

Qatalyst Partners LP is serving as exclusive financial advisor, Wachtell, Lipton, Rosen & Katz is serving as legal counsel, Cleary Gottlieb Steen & Hamilton LLP is serving as regulatory counsel, and FGS Global is serving as strategic communications advisor to Coursera. Morgan Stanley & Co. LLC is serving as exclusive financial advisor, Wilson Sonsini Goodrich & Rosati PC is serving as legal counsel, and Joele Frank, Wilkinson Brimmer Katcher and Sharon Merrill Advisors are serving as strategic communications advisors to Udemy.

Conference Call

Coursera, Inc. (NYSE: COUR) and Udemy, Inc. (NASDAQ: UDMY) will host a joint conference call to discuss this announcement today, December 17, 2025, at 5:00 a.m. Pacific Time (8:00 a.m. Eastern Time). A link to the live webcast of the conference call will be available at https://investor.coursera.com. For those unable to listen live, a replay will be available until closing of the transaction.

About Coursera

Coursera was launched in 2012 by Andrew Ng and Daphne Koller with a mission to provide universal access to world-class learning. Today, it is one of the largest online learning platforms in the world, with 191 million registered learners as of September 30, 2025. Coursera partners with over 375 leading university and industry partners to offer a broad catalog of content and credentials, including courses, Specializations, Professional Certificates, and degrees. Coursera’s platform innovations — including generative AI-powered features like Coach, Role Play, and Course Builder, and role-based solutions like Skills Tracks — enable instructors, partners, and companies to deliver scalable, personalized, and verified learning. Institutions worldwide rely on Coursera to upskill and reskill their employees, students, and citizens in high-demand fields such as GenAI, data science, technology, and business, while learners globally turn to Coursera to master the skills they need to advance their careers. Coursera is a Delaware public benefit corporation and a B Corp.

About Udemy

Udemy is an AI-powered skills acceleration platform transforming how companies and individuals across the world build the capabilities needed to thrive in a rapidly evolving workplace. By combining on-demand, multi-language content with real-time innovation, Udemy delivers personalized experiences that empower organizations to scale workforce development and help individuals build the technical, business, and soft skills most relevant to their careers. Today, thousands of companies, including Ericsson, Samsung SDS America, ON24, Tata Consultancy Services, The World Bank, and Volkswagen, rely on Udemy Business for its enterprise solutions to build agile, future-ready teams. Udemy is headquartered in San Francisco, with hubs across the United States, Australia, India, Ireland, Mexico, and Türkiye.

Cautionary Note Regarding Forward-Looking Statements

This communication relates to a proposed business combination transaction (the “business combination”) between Udemy, Inc. (“Udemy”) and Coursera, Inc. (“Coursera”). This communication contains forward-looking statements that involve substantial risks and uncertainties. Any statements contained in this communication that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as: “accelerate,” “anticipate,” “believe,” “can,” “continue,” “could,” “demand,” “design,” “estimate,” “expand,” “expect,” “intend,” “may,” “might,” “mission,” “need,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” or the negative of these terms, or other comparable terminology intended to identify statements about the future. These forward-looking statements include, but are not limited to, statements regarding expected timing and benefits of the business combination and the outlook for Coursera’s and Udemy’s results of operations and financial condition (including potential synergies) following the business combination. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on the results of operations and financial condition of the combined companies or the price of Coursera or Udemy stock. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance, benefits or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the following: general economic, market or business conditions, including competition, risks related to online learning solutions and risks related to our AI innovations and AI generally; risks related to the business combination, including the effect of the announcement of the business combination on the ability of Coursera or Udemy to retain and hire key personnel and maintain relationships with customers, vendors and others with whom Coursera or Udemy do business, or on Coursera’s or Udemy’s operating results and business generally; risks that the business combination disrupts current plans and operations and the potential difficulties in attracting and retaining qualified personnel as a result of the business combination; the outcome of any legal proceedings related to the business combination; the ability of the parties to consummate the proposed transaction on a timely basis or at all; the satisfaction of the conditions precedent to consummation of the proposed transaction, including the ability to secure regulatory approvals on the terms expected, at all or in a timely manner; the ability to successfully integrate Coursera’s and Udemy’s operations and business on a timely basis or otherwise in accordance with the standards and obligations applicable to the combined company as a public benefit corporation and as a B Corp.; Coursera’s and Udemy’s ability to implement our plans, forecasts and other expectations with respect to the combined company’s business after the completion of the transaction and realize expected synergies and other benefits of the combination within the expected timeframe or at all; the amount of the costs, fees, expenses and charges related to the proposed combination; fluctuations in the prices of Coursera or Udemy stock; and potential business disruptions following the business combination. These risks, as well as other risks related to the proposed transaction, will be included in the registration statement on Form S-4 and joint proxy statement/prospectus that will be filed with the Securities and Exchange Commission (the “SEC”) in connection with the proposed transaction. While the risks presented here, and those to be presented in the registration statement on Form S-4, are considered representative, they should not be considered a complete statement of all potential risks and uncertainties. For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to Coursera’s and Udemy’s respective periodic reports and other filings with the SEC, including the risk factors identified in Coursera’s and Udemy’s most recent Quarterly Reports on Form 10-Q, Coursera’s most recent Annual Report on Form 10-K (available online at https://www.sec.gov/Archives/edgar/data/1651562/000165156225000013/cour-20241231.htm) and Udemy’s most recent Annual Report on Form 10-K (available online at https://www.sec.gov/Archives/edgar/data/1607939/000160793925000011/udmy-20241231.htm), under the headings “Special Note Regarding Forward-Looking Statements” and “Risk Factors” in Part I, Item 1A (Annual Report) and in Part I, Item 2 and Part II, Item 1A (Quarterly Reports), all of which are available online on the SEC’s website at https://www.sec.gov. The forward-looking statements included in this communication are made only as of the date hereof, and are based on the current beliefs of Coursera and Udemy as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Neither Coursera nor Udemy undertakes any obligation to update any forward-looking statements to reflect subsequent events or circumstances, except to the extent required by law.

The information that can be accessed through hyperlinks or website addresses included in this communication is deemed not to be incorporated in or part of this communication.

No Offer or Solicitation

This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

Additional Information About the Business Combination and Where to Find It

In connection with the business combination, Coursera intends to file with the SEC a registration statement on Form S-4 that will include a joint proxy statement of Coursera and Udemy and that also constitutes a prospectus of Coursera. Each of Coursera and Udemy may also file other relevant documents with the SEC regarding the business combination. This document is not a substitute for the proxy statement/prospectus or registration statement or any other document that Coursera or Udemy may file with the SEC. The definitive joint proxy statement/prospectus will be mailed to stockholders of Coursera and Udemy. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION. Investors and security holders will be able to obtain free copies of the registration statement and joint proxy statement/prospectus and other documents containing important information about Coursera, Udemy and the business combination, once such documents are filed with the SEC through the website maintained by the SEC at https://www.sec.gov. Copies of the documents filed with the SEC by Coursera will be available online free of charge on Coursera’s website at https://investor.coursera.com or by contacting Coursera’s Investor Relations department at [email protected]. Copies of the documents filed with the SEC by Udemy will be available online free of charge on Udemy’s website at https://investors.udemy.com or by contacting Udemy’s Investor Relations department at [email protected].

Participants in the Merger Solicitation

Coursera, Udemy and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about the directors and executive officers of Coursera, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Coursera’s proxy statement for its 2025 Annual Meeting of Stockholders under the headings “Executive Officers,” “Compensation Discussion and Analysis,” “Executive Compensation Tables,” “CEO Pay Ratio,” “Pay Versus Performance,” “Non-Employee Director Compensation,” “Certain Relationships and Related Transactions” and “Security Ownership of Certain Beneficial Owners and Management,” which was filed with the SEC on March 31, 2025 and is available online at https://www.sec.gov/Archives/edgar/data/1651562/000165156225000026/cour-20250331.htm, and Coursera’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 under the headings “Item 10. Directors, Executive Officers and Corporate Governance,” “Item 11. Executive Compensation” and “Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters,” which was filed with the SEC on February 24, 2025 and is available online at https://www.sec.gov/Archives/edgar/data/1651562/000165156225000013/cour-20241231.htm. To the extent holdings of Coursera’s securities by its directors or executive officers have changed since the amounts set forth in Coursera’s definitive proxy statement for its 2025 Annual Meeting of Stockholders, such changes have been or will be reflected on Initial Statement of Beneficial Ownership of Securities on Form 3, Statement of Changes in Beneficial Ownership on Form 4 or Annual Statement of Changes in Beneficial Ownership on Form 5 filed with the SEC, which are available online at https://www.sec.gov/edgar/browse/?CIK=1651562&owner=exclude. Information about the directors and executive officers of Udemy, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Udemy’s proxy statement for its 2025 Annual Meeting of Stockholders under the headings “Director Compensation,” “Our Executive Officers,” “Compensation Discussion and Analysis,” “Summary Compensation Table,” “Grants of Plan-Based Awards in 2024,” “Outstanding Equity Awards at 2024 Fiscal Year End,” “Related Person Transactions” and “Security Ownership of Certain Beneficial Owners and Management,” which was filed with the SEC on April 25, 2025 and is available online at https://www.sec.gov/Archives/edgar/data/1607939/000160793925000046/ude-20250422.htm, and Udemy’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 under the headings “Item 10. Directors, Executive Officers and Corporate Governance,” “Item 11. Executive Compensation” and “Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters”, which was filed with the SEC on February 19, 2025 and is available online at https://www.sec.gov/Archives/edgar/data/1607939/000160793925000011/udmy-20241231.htm. To the extent holdings of Udemy’s securities by its directors or executive officers have changed since the amounts set forth in Udemy’s definitive proxy statement for its 2025 Annual Meeting of Stockholders, such changes have been or will be reflected on Initial Statement of Beneficial Ownership of Securities on Form 3, Statement of Changes in Beneficial Ownership on Form 4, or Annual Statement of Changes in Beneficial Ownership on Form 5 filed with the SEC, which are available online at https://www.sec.gov/edgar/browse/?CIK=1607939&owner=exclude. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when such materials become available. Investors should read the joint proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from Coursera or Udemy using the sources indicated above.

Source Code: COUR-IR

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LEXINGTON, Ky.--(BUSINESS WIRE)--Valvoline Inc. (NYSE: VVV), the quick, easy, trusted provider of preventive automotive maintenance, today announced the Valvoline Great Canadian Oil Change has once again ranked highest among aftermarket service facilities in J.D. Power’s 2025 Canada Customer Service Index – Long-Term Study. This marks the second consecutive year the brand has earned this distinction.

“Earning this recognition two years in a row is a true reflection of our people,” said Lori Flees, Valvoline Inc. CEO & President. “Our teams continue to set the standard for what great service looks like. Thank you to both company and franchise Great Canadian Oil Change teams for delivering outstanding V-Class service every day.”

The Canada Customer Service Index–Long-Term Study measures service usage and satisfaction of owners with vehicles that are 4-12 years old and analyzes the customer experience of both warranty and non-warranty services. The 2025 study survey conducted from March through June, surveyed nearly 10,000 vehicle owners and ranked Great Canadian Oil Change highest with a score of 830 on a 1,000-point scale.

Valvoline Inc. owns and franchises 133 locations in five provinces in Canada. Each Great Canadian Oil Change service center performs stay-in-your-car oil changes in about 15 minutes, along with a full range of preventive maintenance services including tire rotations, fluid exchanges, and battery replacements.

To learn more about Great Canadian Oil Change services and to find a center near you, please visit gcoc.ca.

About Valvoline Inc.

Valvoline Inc. (NYSE: VVV) delivers quick, easy, trusted service at more than 2,300 franchised and company-operated service centers across the United States and Canada. The Company completes more than 30 million services annually system-wide, from about 15-minute stay-in-your-car oil changes to a variety of manufacturer-recommended maintenance services such as wiper replacements and tire rotations. At Valvoline Inc., it all starts with our people, including the 13,000 team members who are working to drive the full potential of our core business, deliver sustainable network growth, and innovate to meet the evolving needs of our customers and the car parc. For more information, visit vioc.com.

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SummaryLennar Corporation remains strategically positioned despite housing market volatility, supported by prudent pricing, geographic diversification, and a robust balance sheet.LEN's Q4 2025 revenue declined 5.8% YoY, but resilient demand in select segments and effective price adjustments offset broader weakness.Valuation is reasonable, with a target price of $134.23; technicals are weak but present potential buying opportunities amid a dip.I reiterate my buy rating for LEN, citing defensive fundamentals, liquidity, and dividend support despite ongoing macroeconomic challenges. MoMo Productions/DigitalVision via Getty Images

It’s been three months since my previous coverage of Lennar Corporation (LEN) (LEN.B). I understand the cautious investor stance amid housing market uncertainty. Even so, I believe that LEN is strategically positioned

Analyst’s Disclosure:I/we have a beneficial long position in the shares of LEN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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

Toronto, Ontario--(Newsfile Corp. - December 17, 2025) - Mason Resources Inc. (TSXV: LLG) (OTCQB: MGPHF) ("Mason") ("Mason" or the "Company"), reports, in accordance with the policies of the TSX Venture Exchange, that the nominees listed in the Management Information Circular dated October 27, 2025 for the Annual General and Special Meeting of Shareholders of the Company (the "Meeting") were elected as directors of the Company. Over 47% of all of the issued and outstanding shares of the Company were represented at the Meeting.

Results of the vote for the election of directors held at the Meeting on December 16, 2025, in Toronto, Ontario are set out below.

The shareholders approved the re-election of Fahad Al-Tamimi, Peter Damouni, Adree Delazzer and Roy McDowall as directors. The Company is also pleased to announce the newly shareholder approved additions of Victor Cantore and Simon Marcotte to the board.

Mr. Cantore is a seasoned capital markets professional specializing in the resource industry, with over 20 years of advisory and leadership experience. Mr. Cantore started his career as an investment advisor and quickly progressed to executive management roles for both public and private companies. He has organized and structured numerous equity and debt financings, mergers and acquisitions, joint venture partnerships and strategic alliances. Mr. Francois Perron, Mr. Nav Dhaliwal and Mr. Tayfun Eldem did not stand for re-election. The Company would like to thank them for their contribution over the years.

Mr. Marcotte is a chartered financial analyst with nearly 30 years of experience focused on commodities, including more than 15 years in executive positions for junior mining companies. Mr. Marcotte has been CEO of Black Swan Graphene Inc. since 2022. He has also been the President and CEO of Northern Superior Resources Inc. since its acquisition of Royal Fox Gold Inc., a company he founded in 2021. More recently, IAMGOLD Corporation announced the acquisition of Northern Superior Resources, in a transaction valued at $375 million. In 2012, Mr. Marcotte co-founded Mason (then Mason Graphite Inc.) and held the position of Vice-President of Corporate Development until February 2018. Under his leadership, Mason was awarded: the TSXV's Recognition as "Top 10 Performing Stock" in 2013, the "Best 50 OTCQX" in both 2016 and 2017. He is also a director of Freeman Gold Corp, a company he co-founded, which is advancing the Lemhi Gold Project in Idaho, United States, and Chairman of NorthX Nickel Corp., which is advancing the Grasset Nickel Property in Quebec. Mr. Marcotte is a CFA Charter holder and is a graduate from the University of Sherbrooke.

Shareholders at the meeting also approved the appointment of McGovern Hurley LLP as the Company's auditors. Shareholders also reapproved the Company's Stock Option Plan pursuant to which the Company may issue stock options to eligible participants, subject to the receipt of all required regulatory approvals, including approval of the TSXV.

Shareholders at the meeting also approved the change of its registered office from Montreal, Quebec to Toronto, Ontario as well as the name change of the Company to Mason Investments Inc. or such other name as the Board may determine and that is acceptable to the Exchange and applicable regulatory authorities. The company has until June 30, 2026 to formalize these changes.

Mason's board would like to express its gratitude to its shareholders for their continued support.

For more information:

Mason Resources Inc. on behalf of the Board of Directors
Peter Damouni, President & Chief Executive Officer

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

Forward-Looking Information

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward-looking statements include, without limitation, statements regarding the impact of the results and appointment on the Company. Although the Company believes that such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors and risks, including, uncertainties of the global economy, market fluctuations, the discretion of the Company in respect to the use of proceeds discussed above, any exercise of termination by counterparties under applicable agreements, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies and other risks identified in its disclosure documents filed at www.sedarplus.ca. This press release is not, and is not to be construed in any way as, an offer or recommendation to buy or sell securities in Canada or in the United States.

Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual events, results and/or developments may differ materially from those in the forward-looking statements. Readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with and as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278310

Source: Mason Resources Inc.

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Optimized Gel Formulation Demonstrates Clinical Success in Third Cohort of Patients

, /PRNewswire/ -- Soligenix, Inc. (Nasdaq: SNGX) (Soligenix or the Company), a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need, announced today extended results of its ongoing Phase 2a trial of SGX302 (synthetic hypericin) for the treatment of mild-to-moderate psoriasis. In this extension (Cohort 3) of the exploratory phase of the study, an additional four patients were enrolled and treated with an improved topical gel formulation of synthetic hypericin.

The Cohort 3 patients were treated for the same 18-week period as Cohorts 1 and 2, but utilized an optimized gel formulation of synthetic hypericin. The gel formulation was specifically designed to improve ease of application to larger areas of the skin. SGX302 gel therapy was well tolerated by all patients with no drug related adverse events identified.  On average over the three evaluable patients (one patient discontinued for personal reasons), there were improvements in the Investigator Global Assessment (IGA), the Psoriasis Activity and Severity Index (PASI), the simplified psoriasis index, the dermatology life quality index and the Skindex-29 questionnaire. One patient achieved a disease status of "Almost Clear" using the IGA, which is considered a standard clinical measure for treatment success in psoriasis, with a substantial improvement in their PASI score, exceeding 50%. These outcomes were very similar to or improved relative to those obtained with the previous ointment formulation, as expected given the comparable release characteristics of the two formulations and the enhanced ease of application of the gel. In totality, the initial exploratory phase of the study has confirmed that SGX302 improves psoriasis lesions, consistent with the general success of photodynamic therapies in psoriasis, and is well tolerated, potentially providing a non-carcinogenic, non-mutagenic treatment for the thicker lesions found in psoriasis.

"We are pleased with the preliminary findings from our ongoing Phase 2a trial," stated Christopher J. Schaber, PhD, President and Chief Executive Officer of Soligenix. "The optimized gel formulation was designed to improve the patient experience, with both easier dispensation and skin application. The expansion of this psoriasis study continues our evaluation of synthetic hypericin into other disease indications, including non-orphan indications, where there remains an unmet medical need. Current estimates show as many as 60-125 million people worldwide living with the condition, with a global treatment market valued at approximately $15 billion in 2020 and projected to reach as much as $40 billion by 2027. The success of HyBryte™ in targeting malignant T-cells during cutaneous T-cell lymphoma (CTCL) clinical trials is a promising indicator of the ability of SGX302 to provide a much-needed approach for the treatment of mild-to-moderate psoriasis, also caused by dysregulated T-cells. We anticipate continuing to pursue SGX302 in psoriasis as we advance the confirmatory Phase 3 trial for HyBryte™ in the treatment of early-stage CTCL where topline results are expected in the second half of 2026."

About Synthetic Hypericin

Visible light-activated synthetic hypericin is a novel, first-in-class, photodynamic therapy (PDT) that is expected to avoid many of the long-term risks associated with other PDT treatments. Synthetic hypericin is a potent photosensitizer that is topically applied to skin lesions and absorbed by cutaneous T-cells. With subsequent activation by safe, visible light, T-cell apoptosis is induced, addressing the root cause of psoriasis lesions. Other PDTs have shown efficacy in psoriasis with a similar apoptotic mechanism, albeit using ultraviolet (UV) light associated with more severe potential long-term safety concerns. The use of visible light in the red-yellow spectrum has the advantage of deeper penetration into the skin (much more than UV light) potentially treating deeper skin disease and thicker plaques and lesions, similar to what was observed in the positive Phase 3 FLASH (Fluorescent Light Activated Synthetic Hypericin) study in CTCL. Synthetic hypericin or HyBryte™ (tradename used in CTCL) was demonstrated in this study to be equally effective in treating both plaque (42% treatment response rate after 12 weeks treatment, p<0.0001 relative to placebo treatment) and patch (37%, p=0.0009) lesions in this orphan disease caused by malignant T-cells. In a published Phase 1/2 proof of concept clinical study using synthetic hypericin, efficacy was demonstrated in patients with CTCL (58.3% response, p=0.04) as well as psoriasis (80% response, p<0.02).

In an ongoing Phase 2a study in mild-to-moderate psoriasis, patients enrolled in the initial portion of the trial (Part A) have completed treatment. In Cohort 1, the initial five patients enrolled received twice weekly treatment for 18 weeks with 0.25% hypericin ointment, followed by light activation approximately 24 hours later. Light doses were increased by up to 1 J/cm2 on subsequent visits until mild erythema was observed in the treated lesions. Light doses for all patients were still being intermittently increased when the scheduled treatments ended, and light doses were generally safe and well tolerated. Evaluation of the initial cohort of five patients demonstrated a clear biological signal, with the majority of patients recording an improvement in the PASI (psoriasis area and severity index) score, providing evidence of biological improvement, but no patient met the definition of treatment success (IGA score of 0 or 1) at the 18-week treatment timepoint. The second cohort of five patients were enrolled once the Cohort 1 patients had completed all treatment visits. Given how well-tolerated light treatments were in the first Cohort, it was determined that the second cohort of patients could safely receive an accelerated light treatment with increases in the light dose by up to 2 J/cm2 at each visit and allowing the maximum light dose (25 J/cm2) to be reached earlier by approximately week 14, allowing more treatments at the maximum light dose to be completed in the 18-week treatment schedule. Two of the four evaluable patients achieved a clinical success score at some point during the 18-week treatment period and all evaluable patients improved, yielding an average reduction of approximately 50% in the PASI score. One patient in Cohort 2 dropped out of the study for personal reasons unrelated to the study. The third cohort of the study enrolled four patients, and one of the three evaluable patients achieved a clinical success score, and all evaluable patients improved in multiple indices, including PASI, simplified psoriasis index, and dermatology Life Quality Index. One patient in Cohort 3 discontinued the study for personal reasons and was considered not evaluable. The third cohort specifically assessed the use of an improved formulation of SGX302, designed as a gel as opposed to the previous ointment format. The gel formulation was designed for ease of application and for use in squeezable tubes, instead of jars.

This treatment approach avoids the risk of secondary malignancies (including melanoma) inherent with both the frequently used DNA-damaging drugs and other phototherapies that are dependent on UV A or B exposure. The use of synthetic hypericin coupled with safe, visible light also avoids the risk of serious infections and cancer associated with the systemic immunosuppressive treatments used in psoriasis. 

About Psoriasis

Psoriasis is a chronic, non-communicable, itchy and often painful inflammatory skin condition for which there is no cure. Psoriasis has a significantly detrimental impact on patients' quality of life, and is associated with cardiovascular, arthritic, and metabolic diseases, as well as psychological conditions such as anxiety, depression and suicide. Many factors contribute to development of psoriasis including both genetic and environmental factors (e.g., skin trauma, infections, and medications). The lesions develop because of rapidly proliferating skin cells, driven by autoimmune T-cell mediated inflammation. Of the various types of psoriasis, plaque psoriasis is the most common and is characterized by dry, red raised plaques that are covered by silvery-white scales occurring most commonly on the elbows, knees, scalp, and lower back. Approximately 80% of patients have mild-to-moderate disease. Mild psoriasis is generally characterized by the involvement of less than 3% of the body surface area (BSA), while moderate psoriasis will typically involve 3-10% BSA and severe psoriasis greater than 10% BSA. Between 20% and 30% of individuals with psoriasis will go on to develop chronic, inflammatory arthritis (psoriatic arthritis) that can lead to joint deformations and disability. Studies have also associated psoriasis, and particularly severe psoriasis, with an increased relative risk of lymphoma, particularly CTCL. Although psoriasis can occur at any age, most patients present with the condition before age 35.

Treatment of psoriasis is based on its severity at the time of presentation with the goal of controlling symptoms. It varies from topical options including PDT to reduce pain and itching, and potentially reduce the inflammation driving plaque formation, to systemic treatments for more severe disease. Most common systemic treatments and even current topical photo/photodynamic therapy such as UV A and B light, carry a risk of increased skin cancer.

Psoriasis is the most common immune-mediated inflammatory skin disease. According to the World Health Organization (WHO) Global Report on Psoriasis 2016, the prevalence of psoriasis is between 1.5% and 5% in most developed countries, with some suggestions of incidence increasing with time. It is estimated, based upon review of historic published studies and reports and an interpolation of data, that psoriasis affects 3% of the U.S. population or more than 7.5 million people. Current estimates have as many as 60-125 million people worldwide living with the condition. The global psoriasis treatment market was valued at approximately $15 billion in 2020 and is projected to reach as much as $40 billion by 2027.

About Soligenix, Inc.

Soligenix is a late-stage biopharmaceutical company focused on developing and commercializing products to treat rare diseases where there is an unmet medical need. Our Specialized BioTherapeutics business segment is developing and moving toward potential commercialization of HyBryte™ (SGX301 or synthetic hypericin sodium) as a novel photodynamic therapy utilizing safe visible light for the treatment of cutaneous T-cell lymphoma (CTCL). With successful completion of the second Phase 3 study, regulatory approvals will be sought to support potential commercialization worldwide. Development programs in this business segment also include expansion of synthetic hypericin (SGX302) into psoriasis, our first-in-class innate defense regulator (IDR) technology, dusquetide (SGX942) for the treatment of inflammatory diseases, including oral mucositis in head and neck cancer, and (SGX945) in Behçet's Disease.

Our Public Health Solutions business segment includes development programs for RiVax®, our ricin toxin vaccine candidate, as well as our vaccine programs targeting filoviruses (such as Marburg and Ebola) and CiVax™, our vaccine candidate for the prevention of COVID-19 (caused by SARS-CoV-2). The development of our vaccine programs incorporates the use of our proprietary heat stabilization platform technology, known as ThermoVax®. To date, this business segment has been supported with government grant and contract funding from the National Institute of Allergy and Infectious Diseases (NIAID), the Defense Threat Reduction Agency (DTRA) and the Biomedical Advanced Research and Development Authority (BARDA).

For further information regarding Soligenix, Inc., please visit the Company's website at https://www.soligenix.com and follow us on LinkedIn and Twitter at @Soligenix_Inc.

This press release may contain forward-looking statements that reflect Soligenix's current expectations about its future results, performance, prospects and opportunities, including but not limited to, potential market sizes, patient populations and clinical trial enrollment. Statements that are not historical facts, such as "anticipates," "estimates," "believes," "hopes," "intends," "plans," "expects," "goal," "may," "suggest," "will," "potential," or similar expressions, are forward-looking statements. These statements are subject to a number of risks, uncertainties and other factors that could cause actual events or results in future periods to differ materially from what is expressed in, or implied by, these statements. Soligenix cannot assure you that it will be able to successfully develop, achieve regulatory approval for or commercialize products based on its technologies, particularly in light of the significant uncertainty inherent in developing therapeutics and vaccines against bioterror threats, conducting preclinical and clinical trials of therapeutics and vaccines, obtaining regulatory approvals and manufacturing therapeutics and vaccines, that product development and commercialization efforts will not be reduced or discontinued due to difficulties or delays in clinical trials or due to lack of progress or positive results from research and development efforts, that it will be able to successfully obtain any further funding to support product development and commercialization efforts, including grants and awards, maintain its existing grants which are subject to performance requirements, enter into any biodefense procurement contracts with the U.S. Government or other countries, that it will be able to compete with larger and better financed competitors in the biotechnology industry, that changes in health care practice, third party reimbursement limitations and Federal and/or state health care reform initiatives will not negatively affect its business, or that the U.S. Congress may not pass any legislation that would provide additional funding for the Project BioShield program. In addition, there can be no assurance as to the timing or success of any of its clinical/preclinical trials. Despite the statistically significant result achieved in the first HyBryte™ (SGX301) Phase 3 clinical trial for the treatment of cutaneous T-cell lymphoma or any other studies (including the open-label, investigator-initiated study), there can be no assurance that the second HyBryte™ (SGX301) Phase 3 clinical trial will be successful or that a marketing authorization from the FDA or EMA will be granted. Additionally, although the EMA has agreed to the key design components of the second HyBryte™ (SGX301) Phase 3 clinical trial, no assurance can be given that the Company will be able to modify the development path to adequately address the FDA's concerns or that the FDA will not require a longer duration comparative study. Notwithstanding the result in the first HyBryte™ (SGX301) Phase 3 clinical trial for the treatment of cutaneous T-cell lymphoma and the Phase 2a clinical trial of SGX302 for the treatment of psoriasis, there can be no assurance as to the timing or success of the clinical trials of SGX302 for the treatment of psoriasis. Additionally, despite the biologic activity observed in aphthous ulcers induced by chemotherapy and radiation, there can be no assurance as to the timing or success of the clinical trials of SGX945 for the treatment of Behçet's Disease. Further, there can be no assurance that RiVax® will qualify for a biodefense Priority Review Voucher (PRV) or that the prior sales of PRVs will be indicative of any potential sales price for a PRV for RiVax®. Also, no assurance can be provided that the Company will receive or continue to receive non-dilutive government funding from grants and contracts that have been or may be awarded or for which the Company will apply in the future. These and other risk factors are described from time to time in filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, Soligenix's reports on Forms 10-Q and 10-K. Unless required by law, Soligenix assumes no obligation to update or revise any forward-looking statements as a result of new information or future events.

SOURCE SOLIGENIX, INC.

, /PRNewswire/ -- Nucor Corporation (NYSE: NUE) today announced guidance for its fourth quarter ending December 31, 2025. Nucor expects fourth quarter earnings to be in the range of $1.65 to $1.75 per diluted share. Nucor reported net earnings of $2.63 per diluted share in the third quarter of 2025 and $1.22 per diluted share in the fourth quarter of 2024.

Fourth Quarter of 2025 Commentary
Earnings in the fourth quarter of 2025 are expected to decrease across all three of our operating segments as compared to the third quarter of 2025, driven by seasonal effects and fewer shipping days in Nucor's fiscal quarter. The steel mills segment earnings are projected to decrease due to lower volumes and margin compression, primarily in sheet. In the steel products segments, earnings are expected to decline on lower volumes and higher average costs per ton, partially offset by higher average realized pricing. The raw materials segment is expected to have lower earnings, mainly as a result of two scheduled outages at our DRI facilities.

Capital Returns
During the fourth quarter, Nucor has repurchased approximately 0.7 million shares at an average price of $145.23 per share (approximately 5.4 million shares year-to-date at an average price of $128.66 per share). Nucor has returned approximately $1.2 billion to stockholders in the form of share repurchases and dividend payments year-to-date. 

2026 Outlook
As we look ahead into 2026, we are encouraged by backlogs that are materially higher than they were a year ago at this time, reflecting continuing momentum in select construction market segments such as energy, infrastructure, data centers and manufacturing.  We are also optimistic that monetary, tax and trade policy will lead to continued gradual improvement in business conditions for Nucor.

Fourth Quarter of 2025 Earnings Release and Conference Call
Nucor plans to release its earnings after the markets close on Monday, January 26, 2026, and will host a conference call the morning of Tuesday, January 27, 2026 at 10:00 a.m. Eastern Time to review the Company's fourth quarter results. The event will be broadcast on the internet, and instructions on how to access will be sent closer to the call.

About Nucor
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; wire and wire mesh; and utility structures. Nucor, through The David J. Joseph Company and its affiliates, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.

Forward-Looking Statements
Certain statements contained in this news release are "forward-looking statements" that involve risks and uncertainties which we expect will or may occur in the future and may impact our business, financial condition and results of operations. The words "anticipate," "believe," "expect," "intend," "project," "may," "will," "should," "could" and similar expressions are intended to identify those forward-looking statements. These forward-looking statements reflect the Company's best judgment based on current information, and, although we base these statements on circumstances that we believe to be reasonable when made, there can be no assurance that future events will not affect the accuracy of such forward-looking information. As such, the forward-looking statements are not guarantees of future performance, and actual results may vary materially from the projected results and expectations discussed in this news release. Factors that might cause the Company's actual results to differ materially from those anticipated in forward-looking statements include, but are not limited to: (1) competitive pressure on sales and pricing, including pressure from imports and substitute materials; (2) U.S. and foreign trade policies affecting steel imports or exports; (3) the sensitivity of the results of our operations to general market conditions, and in particular, prevailing market steel prices and changes in the supply and cost of raw materials, including pig iron, iron ore and scrap steel; (4) the availability and cost of electricity and natural gas, which could negatively affect our cost of steel production or result in a delay or cancellation of existing or future drilling within our natural gas drilling programs; (5) critical equipment failures and business interruptions; (6) market demand for steel products, which, in the case of many of our products, is driven by the level of nonresidential construction activity in the United States; (7) impairment in the recorded value of inventory, equity investments, fixed assets, goodwill or other long-lived assets; (8) uncertainties and volatility surrounding the global economy, including excess world capacity for steel production, inflation and interest rate changes; (9) fluctuations in currency conversion rates; (10) significant changes in laws or government regulations affecting environmental compliance, including legislation and regulations that result in greater regulation of greenhouse gas emissions that could increase our energy costs, capital expenditures and operating costs or cause one or more of our permits to be revoked or make it more difficult to obtain permit modifications; (11) the cyclical nature of the steel industry; (12) capital investments and their impact on our performance; (13) our safety performance; (14) our ability to integrate businesses we acquire; and (15) the impact of any pandemic or public health situation. These and other factors are discussed in Nucor's regulatory filings with the United States Securities and Exchange Commission, including those in "Item 1A. Risk Factors" of Nucor's Annual Report on Form 10-K for the year ended December 31, 2024. The forward-looking statements contained in this news release speak only as of this date, and Nucor does not assume any obligation to update them, except as may be required by applicable law.

SOURCE Nucor Corporation

HERZLIYA, Israel, Dec. 17, 2025 (GLOBE NEWSWIRE) -- Nayax Ltd. (Nasdaq: NYAX; TASE: NYAX), a global commerce enablement, payments, and loyalty platform designed to help merchants scale their business, today announced its strategic partnership with Unipaas, the leading embedded payments provider for SaaS platforms, to deliver a fully unified card present and online payments solution for SaaS platforms in the UK.

Through this collaboration, Unipaas expands its embedded payments platform to support both digital and physical environments with POS devices powered by Nayax, offering together a complete payments solution.

Unipaas will integrate Nayax’s retail solutions of Nova Modu and Nova 55F mobile terminals into its AI-powered embedded payments platform, adding advanced in-person capabilities to its embedded digital payments suite.

All payment channels will be managed through a single solution fully operated by Unipaas, giving SaaS platforms and their merchants a unified experience across all channels. The partnership positions Unipaas to power a new generation of connected commerce, where payments, data, and customer experience move seamlessly between online and real-world touchpoints.

“This innovative partnership with Nayax redefines how SaaS platforms can effortlessly own payments across digital and physical environments,” said David Avgi, Founder and CEO of Unipaas. “By natively integrating in‑person POS device capabilities into Unipaas, we give software providers a new level of flexibility to unlock the full value of every transaction, online or offline, making payments seamless and fully unified.”

“We’re excited to work with Unipaas to extend their embedded payments leadership into the physical world,” said Amir Ravid, EVP Global Retail Sales at Nayax. “Our mobile devices and Unipaas’s digital platform together create a powerful, flexible solution that helps SaaS platforms scale seamlessly across every environment.”

About Nayax 

Nayax is a global commerce enablement, payments and loyalty platform designed to help merchants scale their business. Nayax offers a complete solution including localized cashless payment acceptance, management suite, and loyalty tools, enabling merchants to conduct commerce anywhere, at any time. With foundations and global leadership in serving unattended retail, Nayax has transformed into a comprehensive solution focused on our customers’ growth across multiple channels. Nayax has 12 global offices, approximately 1,200 employees, connections to more than 80 merchant acquirers and payment method integrations, and is globally recognized as a payment facilitator. Nayax’s mission is to improve our customers’ revenue potential and operational efficiency — effectively and simply. For more information, please visit www.nayax.com. 

About Unipaas

Unipaas is the go-to Payment-as-a-Service provider for software platforms. Unipaas enables SaaS businesses to embed fully managed, branded payment solutions directly into their product, across online checkouts, mobile, invoicing, in-person checkouts and more. Supporting all major methods (cards, direct debit, instant bank transfers), Unipaas unifies the payment experience while handling onboarding, compliance, operations, and customer support behind the scenes. Unipaas helps platforms maximize revenue, increase adoption, and deliver payment journeys their customers love, turning payments into a true lever for growth.

For more information, visit www.unipaas.com.

Forward-Looking Statements

This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “estimate” and “potential,” among others. Forward-looking statements include, but are not limited to, statements regarding our intent, belief or current expectations. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to: our expectations regarding general market conditions, including as a result of the COVID-19 pandemic and other global economic trends; changes in consumer tastes and preferences; fluctuations in inflation, interest rate and exchange rates in the global economic environment; the availability of qualified personnel and the ability to retain such personnel; changes in commodity costs, labor, distribution and other operating costs; our ability to implement our growth strategy; changes in government regulation and tax matters; other factors that may affect our financial condition, liquidity and results of operations; general economic, political, demographic and business conditions in Israel, including the ongoing war in Israel that began on October 7, 2023 and global perspectives regarding that conflict; the success of operating initiatives, including advertising and promotional efforts and new product and concept development by us and our competitors; and other risk factors discussed under “Risk Factors” in our annual report on Form 20-F filed with the SEC on March 4, 2025 (our “Annual Report”). The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. The forward-looking statements are based on our beliefs, assumptions and expectations of future performance, taking into account the information currently available to us. These statements are only estimates based upon our current expectations and projections about future events. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements. In particular, you should consider the risks provided under “Risk Factors” in our Annual Report. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Each forward-looking statement speaks only as of the date of the particular statement. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.

Public Relations Contact:
Scott Gamm
Strategy Voice Associates
[email protected] 

Investor Relations Contact:
Aaron Greenberg
Chief Strategy Officer
[email protected] 

Edmonton, Alberta--(Newsfile Corp. - December 17, 2025) - Peruvian Metals Corp (TSXV: PER) (OTC Pink: DUVNF) ("Peruvian Metals" or the "Company") is pleased to announce that the Company plans a 2026 exploration program focused on the gold, silver and copper veins located in close proximity to its 80-per-cent-owned Aguila Norte processing plant ("Aguila Norte" or the "Plant") located in Northern Peru.

The Company holds an environmental permit ("IGAC") granted by the Peruvian government that permits the Plant to process mineral at the current 100-tonne-per-day level. Under the existing permit the Plant can be expanded to 350 tonnes per day. The Plant is located on a wholly owned concession covering 120 hectares held by Peruvian's 80% owned subsidiary Minera Aguila de Oro S.A.C ("MADOSAC"). MADOSAC owns two additional contiguous concessions totaling 263 hectares that are not covered by the environmental permit.

The exploration program area contains numerous outcrops of the Late Cretaceous "coastal batholith," composed of porphyritic diorite, granodiorite and tourmaline granodiorite rocks affected by a zone of strong shearing. These rocks intruded earlier metamorphic and volcanic sequences. Within the property, granodioritic rocks host several sets of subparallel veins and veinlets striking N40 degrees east, east-west, north-south and dipping sub-vertically.

The Aguila Norte area was explored in 2009 by a Canadian junior, AndeanGold Ltd. ("AndeanGold"). Two areas of interest near the Plant were identified within the concessions, hosting a total of seven veins. One area contains a 140-metre adit developed in the 1980's where AndeanGold noted in their press release dated May 12th, 2009, that 31 samples taken from the adit returned a weighted average of 4.81 g/tonne ("mt"), Au, 41.7 g/mt Ag and 0.51% Cu. Due to the recent rise in gold, silver and copper prices, the Company is now reviewing the economic viability of these Au-Ag-Cu veins. The adit and old workings located 480 and 500 meters NE of the Plant expose two parallel mineralized quartz veins. Recent sampling by the Company confirms the Au-Ag-Cu mineralization in the two parallel veins with 6 grab samples from dumps and stockpiles averaged 1.10 grams Au/mt, 1.72 ounces Ag/mt and 1.99% Cu. Gold and silver assays range from 0.257 to 2.69 grams Au/mt for gold, 0.20 to 4.29 ounces Ag/mt. The six samples taken showed strong oxide copper mineralization. Assays confirm that most of the copper is in soluble form ranging from 0.02 to 7.90% Cu.

The Company was able to clean out a 20-meter vertical shaft within the main adit. The Company took one grab sample at the bottom of the shaft that contained abundant sulphides. Assay results from the sample returned 1.487 grams Au/mt, 3.40 ounces Ag/mt and 3.00 % Cu. This sample was also assayed for soluble copper returning 0.24% Cu. This result shows that the veins at Aguila Norte contain sulphides at depth which could eventually be processed at the Plant. All samples from this area were processed by Procesmin Ingenieros S.R.L located in Caraz Ancash by Fire Assay for Au-Ag and Atomic Absorption for Cu.

The second area of interest is located immediately east and adjacent to the Plant in an area not covered by the environmental permit. During 2025 the Company allowed a group of small miners to extract mineral from one vein for sale under an artisanal permit. Under the agreement, the miners must provide 20% of the extracted mineral to MADOSAC as a royalty payment. Fifty-four tonnes of the mineral were delivered to MADOSAC in 2025 with an average grade of 5.31 grams Au/mt. MADOSAC sold this gold bearing material to a local toll mill and received $23,029 US including 18% VAT tax. The Company's geologists recently took 7 grab samples from this vein where assays averaged 6.24 grams Au/mt and ranged from 1.03 to 13.50 grams Au/mt. The grab samples were taken from the underground workings and stockpiles on surface. The vein is heavily oxidized and varies in width between 0.30 to 1.20 meters. The artisanal miners noted to the Company's geologists that they are limited at depth due to the existence of sulphide material encountered in one of their vertical shafts. The Company therefore believes that there exists good potential at depth for sulphide gold potential of this vein. Samples were analyzed by Fire Assay at Auro Met Labs located in Trujillo. Auro Met Labs is used by many of miners and mills in the area.

Jeffrey Reeder, Chief Executive Officer of Peruvian Metals, comments: "When we initially acquired the concessions for the Plant, gold was trading between the $1200 to $1300 US per ounce range and copper between the $2 to 3 US per pound range. At the time we were only interested the strategic location for the Plant. Now that gold is trading above $4200 US per ounce and copper trading above $5.20 per pound, and the existence of Au-Ag-Cu sulphide mineral at depth, the economics for underground operations are greatly improved. The Company will start to explore the area in early 2026 with further mapping and sampling. Sulphide material would be treated at our Plant and oxide material will be sold to local toll mills. MADOSAC has all the infrastructure in place and will review what is needed for the permitting process."

The Aguila Norte Plant has an environmental permit (IGAC) from the Peruvian government that provides the plant with the ability to expand operations past the current 100-tonne-per-day level. The exploration plan is subject to modification of the existing permit and establishing new permits. Jeffrey Reeder, P.Geo, a qualified person as defined in National Instrument 43-101, has prepared, supervised the preparation or approved the scientific and technical disclosure contained in this news release.

About Peruvian Metals Corp.
Peruvian Metals Corp. is a Canadian exploration and mineral processing company. Our business model is to provide clients with toll milling services and produce high-grade marketable concentrates from mineral purchases. The Aguila Norte processing plant has an environmental permit ("IGAC") from the Peruvian government which provides the Company with the ability to expand operations past the current 100 tonnes per day level. The Management and Directors have been operating successfully in Peru for over 30 years, and the Company continues to acquire and develop precious and base metal properties in Peru. Peruvian Metals has a history of timely transactions that have added long term value for shareholders.

ON BEHALF OF PERUVIAN METALS
CORP.
(Signed) Jeffrey Reeder

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 release.

Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. We use words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology to identify forward-looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions, and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca. While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions, and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278272

Source: Peruvian Metals Corp.

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New SOLO™ Micro-Modular Reactor Submissions Advance Licensing as Low-Consequence Regulatory Framework Takes Shape

December 17, 2025 07:30 ET

 | Source:

Terra Innovatum Global N.V

NEW YORK, Dec. 17, 2025 (GLOBE NEWSWIRE) -- Terra Innovatum Global N.V. ("Terra Innovatum" or the “Company”) (NASDAQ: NKLR), a developer of micro-modular nuclear reactors today announced continued substantive progress in the licensing of its SOLO™ Micro-Modular Reactor (MMR) through active engagement with the U.S. Nuclear Regulatory Commission (NRC), reinforcing the company’s position at the forefront of next-generation nuclear deployment.

Despite the federal government shutdown, during the last quarter of 2025, Terra Innovatum has had in excess of 10 face-to-face presentation and online meetings with the NRC in which the Company has detailed a comprehensive suite of technical and regulatory submittals addressing crucial-to-approval topics such as reactor design maturity, safety philosophy, and deployment readiness. These engagements reflect a deliberate licensing strategy aligned with the NRC’s regulatory framework for low-consequence reactors, a unique pathway ideally suited to the SOLO™ MMR.

The rapid cadence of the Company’s engagement with the NRC is aimed at securing both construction and commercial licenses for the SOLO reactor as quickly as possible to address demand from both public and private sector off-takers.

Key licensing updates and activities presented to the NRC in the last quarter of 2025 include:

Reactor Module and Internals Topical Report — A detailed description of the SOLO reactor module architecture and internal systems, supporting early NRC familiarity with the integrated design.Core Design Topical Report — Presentation of SOLO’s core design, the company’s key innovation, demonstrating the ability to utilize commercially available Low Enriched Uranium (LEU) fuel below 5% U-235 and traditional zircaloy-clad fuel rods with more than five decades of operating history in commercial reactors, significantly reducing fuel qualification and supply-chain risk.Emergency Planning Zone (EPZ) Topical Report — A technical basis demonstrating the elimination of an EPZ beyond the operational boundary of the reactor, reflecting SOLO’s inherently low-consequence safety profile.First-of-a-Kind (FOAK) Siting White Paper — A comprehensive discussion of Terra Innovatum’s FOAK siting approach, using the Rock City Admiral Parkway site as the selected location, and addressing regulatory, environmental, and deployment considerations early in the licensing process.Pre-FOAK Test Plan Topical Report — A structured test program supporting validation of key safety and performance assumptions prior to first deployment.Defense-in-Depth Technical Report — A detailed discussion of the layered and diverse safety features embedded in the SOLO design, supporting a robust and demonstrable safety case. “These engagements reflect the maturity of the SOLO™ design and our disciplined approach to licensing,” said Cesare Frepoli, Co-Founder – Chief Operating Officer & Director of Regulatory Affairs for Terra Innovatum. “From fuel selection to emergency planning and defense-in-depth, we are deliberately addressing the issues that matter most for regulatory confidence, deployment flexibility, and commercial scalability.”

Terra Innovatum’s licensing progress coincides with broader regulatory developments that are expected to further support the deployment of inherently safe microreactors. The NRC is currently advancing a dedicated rulemaking focused on licensing requirements for microreactors and other low-consequence reactors, aimed at establishing a more tailored, risk-informed, and performance-based regulatory framework. A draft proposed rule is currently expected to be issued for public comment by the end of February.

“SOLO was designed from inception to align with the direction of U.S. nuclear regulatory modernization,” Frepoli added. “Our early and continuous engagement with the NRC positions Terra Innovatum to efficiently transition from pre-application activities to construction and operation as this framework evolves.”

Looking ahead, Terra Innovatum plans to continue its structured NRC engagement, incorporating regulatory feedback into its licensing basis and advancing toward submission of its Preliminary Safety Analysis Report (PSAR) in support of a Construction Permit application.

For additional information, please refer to the U.S. Nuclear Regulatory Commission (NRC) reference page for Terra Innovatum’s Regulatory Engagement Plan submission and the NRC ADAMS system for access to docketed documents.

ABOUT TERRA INNOVATUM & SOLO™

Terra Innovatum's mission is to make nuclear power accessible. We deliver simple and safe micro-reactor solutions that are scalable, affordable and deployable anywhere 1 MWe at a time.

Terra Innovatum is a pioneering force in the energy sector, dedicated to delivering innovative and sustainable power solutions. Terra Innovatum plans to leverage cutting-edge nuclear technology through the SOLO™ Micro-Modular Reactor (SMR™) to provide efficient, safe, and environmentally conscious energy. With a mission to address global energy shortages, Terra Innovatum combines extensive expertise in nuclear industry design, manufacturing, and installation licensing to offer disruptive energy solutions. Committed to propelling technological advancements, Terra Innovatum and SOLO™ are dedicated to fostering prosperity and sustainability for humankind.

It is anticipated that SOLO™ will be available globally within the next three years. Conceptualized in 2018 and engineered over six years by experts in nuclear safety, licensing, innovation, and R&D, SOLO™ addresses pressing global energy demands with a market-ready solution. Built from readily available commercial off-the-shelf components, the proven licensing path for SOLO™ enables rapid deployment and minimizes supply chain risks, ensuring final cost predictability. Designed to adapt with evolving fuel options, SOLO™ supports both LEU+ and HALEU, offering a platform ready to transition to future fuel supplies.

SOLO™ will offer a wide range of versatile applications, providing CO2-free, behind-the-meter, and off-grid power solutions for data centers, mini-grids serving remote towns and villages, and large-scale industrial operations in hard-to-abate sectors like cement production, oil and gas, steel manufacturing, and mining. It also has the ability to supply heat for industrial applications and other specialized processes, including water treatment, desalination and co-generation. Thanks to its modular design, SOLO™ can easily scale to deliver up to 1GW or more of CO2-free power with a minimal footprint, making it an ideal solution for rapidly replacing fossil fuel-based thermal plants. Beyond electricity and heat generation, SOLO™ can also contribute to critical applications in the medical sector by producing radioisotopes essential for oncology research and cancer treatment.

To learn more, visit: https://investors.terrainnovatum.com/. Follow us on X: https://x.com/TerraInnovatum and LinkedIn: https://www.linkedin.com/company/terra-innovatum-solo/.

FORWARD LOOKING STATEMENTS

This press release includes “forward-looking statements” within the meaning of the federal securities laws, including, but not limited to, opinions and projections prepared by Terra Innovatum’s management. Forward-looking statements generally relate to future events or future financial or operating performance, including pro forma and estimated financial information, and other “forward-looking statements” (as such term is defined in the Private Securities Litigation Reform Act of 1995). For example, projections of future sales, EBITDA, Adjusted EBITDA and other metrics are forward-looking statements. The recipient can identify forward-looking statements because they typically contain words such as “outlook,” “believes,” “expects,” “ will,” “projected,” “continue,” “increase,” “may,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negatives or variations of these words or other comparable words and/or similar expressions (but the absence of these words and/or similar expressions does not mean that a statement is not forward-looking). These forward-looking statements specifically include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, projections of market opportunity and market share and the potential success of Terra Innovatum’s strategy and expectations. Forward-looking statements, opinions and projections are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of Terra Innovatum’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Terra Innovatum’s control. These uncertainties and risks may be known or unknown. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: changes in domestic and foreign business, market, financial, political and legal conditions; failure to realize the anticipated benefits of the proposed business combination; risks relating to the uncertainty of the projected financial information with respect to Terra Innovatum; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; Terra Innovatum’s ability to manage future growth; Terra Innovatum’s ability to develop new products and services, bring them to market in a timely manner, and make enhancements to its platform; the effects of competition on Terra Innovatum’s future business; and the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries. If any of these risks materialize or the Terra Innovatum’s assumptions prove incorrect, actual results could differ materially from the results implied by the forward-looking statements contained herein. In addition, forward-looking statements reflect Terra Innovatum’s expectations and views as of the date of this presentation. Terra Innovatum anticipates that subsequent events and developments will cause its assessments to change. However, while Terra Innovatum may elect to update these forward-looking statements in the future, each of them specifically disclaims any obligation to do so. Accordingly, you should not place undue reliance on the forward-looking statements, which speak only as of the date they are made.

CONTACTS

Giordano Morichi
Founding Partner, Chief Business Development Officer & Investor Relations
Terra Innovatum Global N.V.
E: [email protected]
W: www.terrainnovatum.com

Kaitlin Taylor
Vice President
Investor Relations
Alliance Advisors IR
E: [email protected]

Fatema Bhabrawala
Director
Media Relations
Alliance Advisors IR
E: [email protected]

DALLAS, Dec. 17, 2025 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets, today announced that its Board of Directors (the “Board”) has appointed Peter T. Cangany Jr. as Chairman of the Board, effective December 15, 2025.

Mr. Cangany has served as a director of Beneficient and as Chairman of its independent Audit Committee since 2019. He brings decades of leadership experience in financial reporting, accounting, and corporate governance within the financial services industry.

Mr. Cangany retired as a partner of Ernst & Young LLP (“EY”) in 2017 after nearly 40 years with the firm, including more than two decades as a partner. During his tenure at EY, Mr. Cangany specialized in auditing public companies across multiple segments of the financial services industry, including insurance companies and investment management firms. He also held senior leadership roles within EY, including location and sector leadership responsibilities.

“Pete’s deep expertise in financial services, public company financial reporting, and governance makes him exceptionally well suited to serve as Chairman,” said James Silk, Interim Chief Executive Officer. “He brings a steady, disciplined perspective that will be invaluable as we continue to execute on our strategy and work to drive long-term value for our shareholders.”

In addition to his service on Beneficient’s Board, Mr. Cangany currently serves as Chair of the Board of Trustees of Franklin College of Indiana. He brings extensive experience advising early-stage and growth-oriented businesses, as well as a strong background in strategic planning and board oversight developed over decades of client service.

“I am honored to be appointed Chairman of Beneficient’s Board,” Mr. Cangany said. “I look forward to working closely with the Board and management team to support the Company’s strategic priorities and help position Beneficient for sustainable, long-term success.”

Mr. Cangany earned a B.A. in Accounting from Franklin College and an M.B.A. from Texas A&M University. He is a Certified Public Accountant.

About Beneficient

Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to democratize the global alternative asset investment market by providing traditionally underserved investors − mid-to-high net worth individuals, small-to-midsized institutions and General Partners seeking exit options, anchor commitments and valued-added services for their funds – with solutions that could help them unlock the value in their alternative assets.

Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner.

For more information, visit www.trustben.com or follow us on LinkedIn. 

Contacts

Matt Kreps: 214-597-8200, [email protected]
Michael Wetherington: 214-284-1199, [email protected]
Investor Relations: [email protected]

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding our ability to create shareholder value and execute on our business strategy. The words ”anticipate,” "believe,” ”continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” ”plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected.

Important factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, among others, the risks, uncertainties, and factors set forth under “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and its subsequently filed Quarterly Reports on Form 10-Q and the risks and uncertainties contained in the Company’s Current Reports on Form 8-K. Forward-looking statements speak only as of the date they are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable law. 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, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Approval Triggers Milestone Payment of $7.5 Million from Sanofi; 
Cytokinetics Eligible to Receive Additional Milestone Payments and Royalties on Net Sales in Greater China

SOUTH SAN FRANCISCO, Calif., Dec. 17, 2025 (GLOBE NEWSWIRE) -- Cytokinetics, Incorporated (Nasdaq: CYTK) today announced that MYQORZO® (aficamten) has been approved by the China National Medical Products Administration (NMPA) for the treatment of adults with New York Heart Association (NYHA) class II-III obstructive hypertrophic cardiomyopathy (oHCM), to improve exercise capacity and symptoms.

Under the terms of its license and collaboration agreement with Cytokinetics, Sanofi has exclusive rights to develop and commercialize MYQORZO for the treatment of patients with obstructive and non-obstructive hypertrophic cardiomyopathy (HCM) in Greater China. The approval of MYQORZO in oHCM in China triggers a $7.5 million milestone payment from Sanofi to Cytokinetics. Cytokinetics remains eligible to receive up to $142.5 million in development and commercial milestone payments from Sanofi as well as royalties in the low-to-high teens on future sales of MYQORZO in Greater China.

MYQORZO is only approved for use in China. Aficamten is currently under regulatory review in the U.S, where the FDA is reviewing a New Drug Application (NDA) for aficamten with a Prescription Drug User Fee Act (PDUFA) target action date of December 26, 2025. On December 12, 2025 the Committee for Medicinal Products for Human Use (CHMP) of the EMA adopted a positive opinion recommending marketing authorization in the European Union (EU) for aficamten, and a final decision is anticipated from the European Commission in the first quarter of 2026.

About MYQORZO® (aficamten)

MYQORZO® (aficamten) is an investigational selective, small molecule cardiac myosin inhibitor discovered following an extensive chemical optimization program that was conducted with careful attention to therapeutic index and pharmacokinetic properties.1 MYQORZO was designed to reduce the number of active actin-myosin cross bridges during each cardiac cycle and consequently suppress the myocardial hypercontractility that is associated with HCM. In preclinical models, MYQORZO reduced myocardial contractility by binding directly to cardiac myosin at a distinct and selective allosteric binding site, thereby preventing myosin from entering a force producing state.

The development program for MYQORZO is assessing its potential as a treatment that improves exercise capacity as measured by peak oxygen uptake (pVO2) and relieves symptoms in patients with HCM. MYQORZO was evaluated in SEQUOIA-HCM, a positive pivotal Phase 3 clinical trial in patients symptomatic obstructive hypertrophic cardiomyopathy (HCM). MYQORZO received Breakthrough Therapy Designation for the treatment of symptomatic HCM from the U.S. Food & Drug Administration (FDA) and for the treatment of symptomatic obstructive HCM from the National Medical Products Administration (NMPA) in China.

Aficamten is also currently under clinical investigation in ACACIA-HCM, a Phase 3 trial in patients with non-obstructive HCM and CEDAR-HCM, in a pediatric population with oHCM. Aficamten has not been deemed safe or effective for use in either of these patient populations. In addition, aficamten is being studied in FOREST-HCM, an open-label extension clinical study.

About Hypertrophic Cardiomyopathy

Hypertrophic cardiomyopathy (HCM) is a disease in which the heart muscle (myocardium) becomes abnormally thick (hypertrophied). The thickening of cardiac muscle leads to the inside of the left ventricle becoming smaller and stiffer, and thus the ventricle becomes less able to relax and fill with blood. This ultimately limits the heart’s pumping function, resulting in reduced exercise capacity and symptoms including chest pain, dizziness, shortness of breath, or fainting during physical activity. HCM is the most common monogenic inherited cardiovascular disorder, with approximately 280,000 patients diagnosed, however, there are an estimated 400,000-800,000 additional patients who remain undiagnosed in the U.S.2,3,4 Two-thirds of patients with HCM have obstructive HCM (oHCM), where the thickening of the cardiac muscle leads to left ventricular outflow tract (LVOT) obstruction, while one-third have non-obstructive HCM (nHCM), where blood flow isn’t impacted, but the heart muscle is still thickened. People with HCM are at high risk of also developing cardiovascular complications including atrial fibrillation, stroke and mitral valve disease.5 People with HCM are at risk for potentially fatal ventricular arrhythmias and it is one of the leading causes of sudden cardiac death in younger people or athletes.6 A subset of patients with HCM are at high risk of progressive disease leading to dilated cardiomyopathy and heart failure necessitating cardiac transplantation.

About Cytokinetics

Cytokinetics is a specialty cardiovascular biopharmaceutical company building on its over 25-years of pioneering scientific innovation in muscle biology, and advancing a pipeline of potential new medicines for patients suffering from diseases of cardiac muscle dysfunction with intention to create a muscle biology franchise business focused on medicines designed to optimize muscle performance for patients with cardiac and other diseases of muscle dysfunction. MYQORZO® (aficamten), the company’s cardiac myosin inhibitor, is approved for the treatment of patients with obstructive hypertrophic cardiomyopathy (HCM) in China, and under regulatory review in the U.S. The Committee for Medicinal Products for Human Use of the European Medicines Agency adopted a positive opinion recommending marketing authorization in the European Union for aficamten, and a final decision is anticipated from the European Commission in the first quarter of 2026. Cytokinetics is also developing omecamtiv mecarbil, a cardiac myosin activator, in patients with heart failure with severely reduced ejection fraction, ulacamten, a cardiac myosin inhibitor with a mechanism of action distinct from aficamten, for the potential treatment of heart failure with preserved ejection fraction and CK-089, a fast skeletal muscle troponin activator with potential therapeutic application to a specific type of muscular dystrophy and other conditions of impaired skeletal muscle function.

For additional information about Cytokinetics, visit www.cytokinetics.com and follow us on X, LinkedIn, Facebook and YouTube.

About the Sanofi and Cytokinetics Collaboration

In 2024, Sanofi acquired exclusive rights to develop and commercialize MYQORZO® (aficamten) from Corxel Pharmaceuticals (CORXEL) for the treatment of patients with obstructive and non-obstructive hypertrophic cardiomyopathy (HCM) in Greater China. Previously, CORXEL acquired the rights to develop and commercialize MYQORZO in Greater China from Cytokinetics in accordance with Cytokinetics’ global registration programs.

Forward-Looking Statements

This press release contains forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the “Act”). Cytokinetics claims the protection of the Act’s Safe Harbor for forward-looking statements. Examples of such statements include, but not limited to, statements, express or implied, relating to our or our partners’ research and development and commercial readiness activities, our receipt of regulatory approval by FDA or any other regulatory authority to enable our commercialization of aficamten in the United States or any other jurisdiction by any date, if ever, or our earning or receiving any milestone payments or specific quantum of royalties from commercialization of MYQORZO in Greater China. Such statements are based on management's current expectations, but actual results may differ materially due to various risks and uncertainties, including, but not limited to, the commercialization activities of Sanofi, the actions of regulatory activities, and the results of our on-going clinical trials. For further information regarding these and other risks related to Cytokinetics’ business, investors should consult Cytokinetics’ filings with the Securities and Exchange Commission, particularly under the caption “Risk Factors” in Cytokinetics’ Quarterly Report on Form 10-Q for the quarter ended September 30, 2025. Forward-looking statements are not guarantees of future performance, and Cytokinetics’ actual results of operations, financial condition and liquidity, and the development of the industry in which it operates, may differ materially from the forward-looking statements contained in this press release. Any forward-looking statements that Cytokinetics makes in this press release speak only as of the date of this press release. Cytokinetics assumes no obligation to update its forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.

CYTOKINETICS® and the CYTOKINETICS C-shaped logo are registered trademarks of Cytokinetics in the U.S. and certain other countries.

MYQORZO® is a registered trademark of Cytokinetics in China.

References:

Chuang C, Collibee S, Ashcraft L, et al. Discovery of Aficamten (CK-274), a Next-Generation Cardiac Myosin Inhibitor for the Treatment of Hypertrophic Cardiomyopathy. J Med Chem. 2021;64(19):14142–14152. https://doi.org/10.1021/acs.jmedchem.1c01290CVrg: Heart Failure 2020-2029, p 44; Maron et al. 2013 DOI: 10.1016/S0140-6736(12)60397-3; Maron et al 2018 10.1056/NEJMra1710575Symphony Health 2016-2021 Patient Claims Data DoF;Maron MS, Hellawell JL, Lucove JC, Farzaneh-Far R, Olivotto I. Occurrence of Clinically Diagnosed Hypertrophic Cardiomyopathy in the United States. Am J Cardiol. 2016; 15;117(10):1651-1654.Gersh, B.J., Maron, B.J., Bonow, R.O., Dearani, J.A., Fifer, M.A., Link, M.S., et al. 2011 ACCF/AHA guidelines for the diagnosis and treatment of hypertrophic cardiomyopathy. A report of the American College of Cardiology Foundation/American Heart Association Task Force on practice guidelines. Journal of the American College of Cardiology and Circulation, 58, e212-260.Hong Y, Su WW, Li X. Risk factors of sudden cardiac death in hypertrophic cardiomyopathy. Current Opinion in Cardiology. 2022 Jan 1;37(1):15-21 Contact:
Cytokinetics
Diane Weiser
Senior Vice President, Corporate Affairs
(415) 290-7757

VANCOUVER, BC / ACCESS Newswire / December 17, 2025 / SILVER X MINING CORP. (TSXV:AGX)(OTCQB:AGXPF)(F:AGX) ("Silver X" or the "Company") announces that it has granted 450,000 restricted share units with a term of 1 year and 900,000 stock options to directors and officers of the Company, in accordance with the Company's omnibus incentive plan dated August 9, 2024. Each stock option will have an exercise price of C$0.79 and will have a term of 6 years. The grant of the stock options and restricted share units is subject to TSX Venture Exchange approval.

About Silver X Mining Corp.

Silver X Mining Corp. is a rapidly expanding silver producer and developer advancing the Nueva Recuperada Project in Peru, a 20,795-hectare, district-scale land package with two mining units and over 200 targets. Current production at the Tangana Mining Unit is scaling alongside the planned restart of the Plata Mine, supporting a path to ~6 million AgEq ounces annually by 2029. With immediate revenue, scalable growth, and long-term discovery upside - all within one integrated project - Silver X is building the next-generation silver company defined by growth, resilience, and responsible mining. For more information visit our website at www.silverxmining.com.

ON BEHALF OF THE BOARD

José M. García
CEO and Director

For further information, please contact:

Kaitlin Taylor
Investor Relations
[email protected]

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

SOURCE: Silver X Mining Corp.

A legacy version of the decentralized finance protocol Yearn has suffered an exploit, reviving concerns about misconfigured and immutable smart contracts that have held funds on the network years after being deprecated.

In an X post on Wednesday, Security firm PeckShield reported YearnFinanceV1’s hack resulted in losses of about $300,000. The stolen funds were swapped into 103 Ether and now sit at address 0x0F21…4066, according to Etherscan images shared by the firm.

#PeckShieldAlert YearnFinanceV1 @yearnfi has suffered an exploit, resulting in a total loss of ~$300K.

The exploiter has swapped the stolen funds for 103 $ETH, which now sit in the address: 0x0F21…4066. pic.twitter.com/KeyfTLKRHx

— PeckShieldAlert (@PeckShieldAlert) December 17, 2025

The hackers took advantage of an outdated Yearn vault tied to TrueUSD, known as the “iearn TUSD vault,” which is still deployed on Ether despite being superseded by newer versions. A configuration flaw helped the attackers manipulate share prices through several transactions.

Yearn Finance misconfigured vault triggered price manipulation 
According to an analysis from pseudonymous crypto researcher and University of Science and Technology of China alumnus Weilin Li, the vault configured one of its strategies as a Fulcrum sUSD vault and calculated its share price using only the sUSD balance deposited.

This opened the door to so-called “donation attacks,” in which an attacker transfers assets directly into a vault to distort accounting metrics. After sending Fulcrum sUSD tokens into the Yearn TUSD vault, the perpetrators were able to artificially inflate the vault’s reported share price.

The issue was compounded by a rebalance function that withdraws all underlying assets in sUSD, an asset not included in the vault’s share price calculations. When the rebalance started, the vault’s share price tanked steeply and created a “price shock.”

Per PeckShield Alert’s Etherscan snapshot, the attacker executed sequenced flash loans by firstly borrowing large amounts of TUSD and sUSD without an upfront collateral. They then deposited sUSD to mint Fulcrum sUSD tokens before depositing TUSD into the Yearn TUSD vault. 

At that stage, all underlying assets of the TUSD vault consisted of Fulcrum sUSD tokens. The exploiter withdrew from the Yearn TUSD vault and called the rebalance function, forcing Fulcrum to redeem everything into sUSD. Because sUSD was excluded from share price calculations, the vault’s accounting collapsed, effectively driving the share price toward zero.

The attacker then transferred a small amount of TUSD back into the vault, pushing the share price to extremely low levels, and minted an outsized number of Yearn TUSD tokens at minimal cost. He ultimately counted gains by selling the cheaply acquired Yearn TUSD tokens on Curve pools, extracting value from liquidity providers before repaying the flash loans.

Yearn Finance recaps 2023 vulnerability, researcher recounts
Researcher Li found that the exploit was similar to an attack carried out in 2023, leading to losses exceeding $10 million. The immutable yUSDT contract targeted in that earlier incident was deployed more than three years ago, during the early days of iearn when the late Andre Cronje led the protocol.

Just to add, this is exactly the same attack vector like last time: https://t.co/MKfn7kikJ7

cc @yearnfi @RektHQ

— Weilin (William) Li (@hklst4r) December 16, 2025

Pessimistic security analysts had issued a warning about the vulnerability on social media before the exploit, but since immutable smart contracts cannot be patched or paused once deployed, it was inevitable.

 “iearn finance, Smoothswap, be careful. This address 0x5bac20…ed8e9cdfe0 got 10 ETH from Tornado and deploys contracts with flashloans using your addresses,” PS’ Nikiti Kirillov wrote.

A Yearn team member known as storming0x admitted the attack happened and reassured users that its current contracts were safe. Yet, Rekt News observers revealed it took 1,156 days for the DeFi protocol to spot a multimillion-dollar vulnerability.

Yearn yUSDT token contract generated yield from a basket of yield-bearing positions, including USDT deposits on Aave, Compound, dYdX and BzX’s Fulcrum. Since launch, however, yUSDT contained a copy-and-paste error which referenced the Fulcrum USDC address instead of the Fulcrum USDT contract. 

Using just 10,000 USDT, hackers were able to mint approximately 1.2 quadrillion yUSDT, draining value from the system before cashing out.

The Yearn incident comes less than a week after Cryptopolitan featured a $2.7 million drainage from an old contract belonging to Ribbon Finance, the rebranded version of Aevo. That attack involved repeated interactions with a proxy admin contract at address 0x9D7b…8ae6B76. The attacker invoked functions such as transferOwnership and setImplementation to manipulate price-feed proxies through delegate calls.

Claim your free seat in an exclusive crypto trading community - limited to 1,000 members.

Wed, 17/12/2025 - 10:47

Ripple, through its subsidiary GTreasury, is looking to reshape global settlement capabilities.

Cover image via U.Today

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The persistent challenges associated with guaranteeing cross-border payments has been highlighted by Ripple Labs’ Senior Executive Officer, Middle East & Africa, Reece Merrick. In a response to the frustration of a veteran banker, Merrick noted that the traditional banking system of settlement remains "painful."

GTreasury's unique edge over traditional bankingAccording to him, the slow settlement processes he witnessed firsthand from his earlier banking days, before moving to Ripple, expose the frustration of his clients. He decried the multiple layers of intermediary banks that a client’s payment request has to pass through and the associated delays.

Merrick implied that traditional banking systems are slow, opaque, unpredictable and stressful when it comes to cross-border settlements. He believes it was not good service for a client not to know specifically when their money would arrive at its destination.

The senior executive claimed that GTreasury, which has been acquired by Ripple for $1 billion, is revolutionizing cross-border payments. He explained that Ripple is utilizing the XRP Ledger to ensure secure, efficient and reliable transactions.

Similar story from my side…

Before joining @Ripple I spent 10+ years in FX dealing with payments for large enterprise customers.

There was nothing worse than getting a call from a customer asking me where their funds were.

All you could confirm is that the payment had… https://t.co/HHhkapvMku

— Reece Merrick (@reece_merrick) December 17, 2025 The goal is to overcome the challenges of trapped liquidity, slow settlement and high payment costs to clients. Merrick highlighted that with GTreasury, clients are assured of round-the-clock settlements. Additionally, the cost of cross-border settlements is significantly reduced by between 60% and 90%.

Another huge change offered by GTreasury is the flexibility and speed it offers to clients. Unlike the traditional banking system, which requires two to three days, GTreasury offers blockchain-based payments in seconds.

The acquisition of GTreasury by Ripple is part of its expansion efforts aimed at enhancing cross-order payment systems. 

Recently, Merrick hinted at a possible expansionary move into South Africa, given improvements in the regulatory environment. Notably, South Africa remains a key market for Ripple as it seeks to establish a presence for the Ripple USD (RLUSD) stablecoin.

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Ripple’s strategic capture of cross-border settlementInterestingly, given the dominance of giants like Tether (USDT) and Circle (USDC) on the stablecoin market, Merrick says RLUSD aims to move beyond being a "Ripple-only" asset.

It is aiming to become a regulated banking tool for the blockchain. Ripple is focused on taking products to existing users rather than waiting for them to migrate.

With these plans set in motion, Ripple intends to become a global force in cross-border settlement through quicker and reliable solutions.

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In brief
The “triple witching” of stock derivatives can impact crypto indirectly by shifting equity market risk appetite, which then flows into high-beta assets like Bitcoin.
A larger, direct crypto event is the December 26 expiry of over $13.3B in Bitcoin options, where the “max pain” price is clustered between $100,000 and $102,000.
Macro pressures, including potential Bank of Japan tightening and year-end institutional portfolio rebalancing, are compounding headwinds and limiting upside, Decrypt was told.
Bitcoin traders are gauging the potential ripple effects from the U.S. stock market's quarterly “Witching Friday,” a major derivatives expiry that could influence risk appetite across asset classes during a week packed with macro catalysts.

Bitcoin is trading flat over the past 24 hours, and remains under $90,000 for the third consecutive day, according to CoinGecko data.

“Global markets are indeed facing multiple overlapping variables this week,” Tim Sun, senior researcher at HashKey Group, told Decrypt.

He pointed to U.S. nonfarm payroll data and the Bank of Japan’s monetary policy meeting as key events influencing liquidity and risk assessments, alongside the concentrated expiry of stock derivatives.

The triple witching event, which involves the simultaneous expiration of stock index futures, stock index options, stock options, and single-stock futures, typically creates volatility.

“It can have an effect, but usually indirectly,” Derek Lim, head of research at crypto market-making firm Caladan, told Decrypt. “The most likely transmission is through equity moves affecting risk appetite, which then hits crypto as a high-beta asset.”

Sun explained the transmission mechanism of risk appetite, citing Bitcoin’s elevated correlation with the Nasdaq, with the recent uptick in institutional participation.

“When large-scale derivatives expirations trigger position adjustments, institutions typically engage in cross-asset liquidity management. This means that sharp volatility in U.S. equities can easily lead to passive rebalancing in crypto markets,” he said.

Historical patterns, however, show mixed results.

A March witching triggered a “sharp slide” in crypto after the expiry, while a June event saw Bitcoin and Ethereum drop nearly 2%, followed by a month-long consolidation, Lim noted. At the same time, the September event had a more contained impact.

A put-call ratio near 1.10 and other metrics show a defensive posture among traders, with inconsistent exchange-traded fund flows and shrinking holiday liquidity adding to the headwinds.

These headwinds are compounded by conflicting macro signals, Sun noted.

While a recent uptick in the U.S. unemployment rate has strengthened expectations for 2026 rate cuts, this positive is being offset by other forces. “Growing attention on the Bank of Japan’s potential tightening path may trigger the unwinding of carry trades, leading to capital outflows from high-beta assets such as Bitcoin,” he said.

Concerns around the sustainability of AI-related capital expenditures in U.S. equities further constrain upside potential in a tight liquidity environment.

Bitcoin’s $13.3 billion options expiryWith the impact of the triple expiry indirect, Lim deferred to a crypto-specific event looming next week.

“In my opinion, the December 26 Deribit expiry is the bigger event to watch, not the December 19 witching,” he said. That event involves over $13.3 billion in Bitcoin options expiring, with more than half of the current open interest clustered around it. The “max pain” strike is between $100,000 and $102,000, a price level where most options would expire worthless.

Adding to the year-end pressure, Sun highlighted that institutional investors are now in a portfolio rebalancing phase. “During this process, some capital may choose to reduce risk exposure and lock in annual gains, which could create temporary selling pressure or amplify volatility across risk assets, including Bitcoin,” he said.

The bottom line, according to the analysts, is a day of choppy trading with the highest volatility window in the late U.S. session and a moderate probability of a notable crypto impact driven primarily by equity markets. The larger test for Bitcoin's price will come with the December 26 options expiry.

On prediction market Myriad, owned by Decrypt’s parent company Dastan, users remain optimistic about Bitcoin’s prospects, placing a 68% chance on Bitcoin’s next move taking it to $100,000 rather than $69,000—up from a low of 60% yesterday.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Bitcoin’s “death cross” is back in the group chat. And yes, the emails too. Matthew Sigel, head of digital assets research at VanEck, said he’s been “getting questions from clients” about the latest death cross print — the 50-day moving average slipping under the 200-day — and answered with the kind of data dump that tends to calm people down.

“Lagging indicator,” Sigel wrote on X, alongside a table of every Bitcoin death cross going back to 2011. The summary stats are clean: the 6-month median return after a death cross is +30%, the 12-month median is +89%, and the “positive hit rate” is 64%.

Another Bitcoin Death Cross, Another Missed Bottom?
But the interesting bit isn’t just the returns. It’s Sigel’s market regime column — basically a hint that the same technical signal can mean wildly different things depending on where you are in the cycle.

Bitcoin death cross history | Source: X @matthew_sigel
Take the ones tagged as some version of “bottom.” In 2011 (“post-bubble bottom”), the death cross showed up around the wreckage of an early-cycle blow-off, and the next 12 months were +357%. In 2015 (“cycle bottom”), it was +82% at six months and +159% at 12 months — classic post-capitulation behavior where trend indicators catch up late, after price has already stabilized and started to turn.

2020 (“Covid bottom”) is the extreme example: forced liquidation, policy response, then a monster rebound (+812% over 12 months). And 2023 is also tagged “cycle bottom,” with +173% at six months and +121% at 12 months — the kind of “this is awful until it isn’t” regime crypto does better than any asset class.

Now look at “structural bear.” That label shows up in 2014 (twice), 2018, and 2022 — and the forward returns are mostly ugly: 2014 prints -48% and -56% over 12 months, 2018 is -35%, and 2022 is -52%. Different environment. Less “washout and bounce,” more “trend is down because the system is deleveraging,” whether that’s miners, credit, exchanges, or macro liquidity tightening. In those regimes, a death cross isn’t a late alarm — it’s the moving averages confirming that the downtrend is real and persistent.

The in-between tags matter too. 2019 is marked “late bear,” with +9% at six months and +89% at 12 — choppy, uneven, but improving as the cycle turns. 2021 is “late cycle”: +30% at six months, then -43% at 12, which fits a regime where trend signals can whipsaw while distribution and macro tightening creep in.

And then there’s 2024: “post-ETF regime,” with +58% at six months and +94% at 12. That tag is doing a lot of work. It suggests the backdrop isn’t just “price vs. moving averages,” but structural demand (ETFs), different liquidity plumbing, and a market that may behave less like pure reflexive leverage and more like a hybrid of trad-fi flows plus crypto-native positioning.

So the takeaway isn’t “death crosses are bullish.” That’s not true. It’s that the signal is mostly a trailing mirror — and the regime you’re actually in (bottoming, late bear, structural deleveraging, late cycle, post-ETF flow market) is what decides whether it’s a fake-out, a confirmation, or just noise with a scary name.

At press time, Bitcoin traded at $86,631.

Bitcoin still hovers between the 0.618 and 0.786 Fib, 1-week chart | Source: BTCUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com