Market Signal Briefing

Vail Resorts (MTN - Free Report) reported $271.29 million in revenue for the quarter ended July 2025, representing a year-over-year increase of 2.2%. EPS of -$5.08 for the same period compares to -$4.67 a year ago.

The reported revenue represents a surprise of -0.21% over the Zacks Consensus Estimate of $271.87 million. With the consensus EPS estimate being -$4.75, the EPS surprise was -6.95%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

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

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

Mountain - Total skier visits: 0.75 thousand compared to the 0.75 thousand average estimate based on three analysts.Lodging - Managed condominium statistics - RevPAR: $48.62 compared to the $46.15 average estimate based on three analysts.Lodging - Owned hotel statistics - RevPAR: $185.37 versus $178.07 estimated by three analysts on average.Mountain - ETP: $63.20 versus the three-analyst average estimate of $59.70.Net Revenue- Lodging net revenue: $90.27 million versus the six-analyst average estimate of $88.25 million. The reported number represents a year-over-year change of +0.9%.Net Revenue- Mountain net revenue: $180.93 million versus the six-analyst average estimate of $179.08 million. The reported number represents a year-over-year change of +2.9%.Net Revenue- Resort net revenue: $271.2 million versus the four-analyst average estimate of $267.74 million. The reported number represents a year-over-year change of +2.2%.Net Revenue- Real estate: $0.09 million versus the four-analyst average estimate of $0.34 million. The reported number represents a year-over-year change of 0%.Net Revenue- Mountain net revenue- Other: $81.1 million versus $71.77 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +6.9% change.Net Revenue- Lodging net revenue- Managed condominium rooms: $10.11 million compared to the $10.46 million average estimate based on three analysts. The reported number represents a change of -3.7% year over year.Net Revenue- Mountain net revenue- Retail/rental: $24.09 million versus the three-analyst average estimate of $26.29 million. The reported number represents a year-over-year change of -0.9%.Net Revenue- Mountain net revenue- Dining: $18.39 million compared to the $20.51 million average estimate based on three analysts. The reported number represents a change of +2.4% year over year.View all Key Company Metrics for Vail Resorts here>>>

Shares of Vail Resorts have returned -9.8% over the past month versus the Zacks S&P 500 composite's +2.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

Progress Software (PRGS - Free Report) reported $249.8 million in revenue for the quarter ended August 2025, representing a year-over-year increase of 39.8%. EPS of $1.50 for the same period compares to $1.26 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $240.35 million, representing a surprise of +3.93%. The company delivered an EPS surprise of +15.38%, with the consensus EPS estimate being $1.30.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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

Revenue- Software licenses: $63.44 million compared to the $65.52 million average estimate based on two analysts. The reported number represents a change of +9.7% year over year.Revenue- Maintenance: $104.85 million versus the two-analyst average estimate of $107.45 million. The reported number represents a year-over-year change of +1.7%.Revenue- Maintenance and services (Maintenance, SaaS and professional services): $186.36 million compared to the $174.2 million average estimate based on two analysts. The reported number represents a change of +54.2% year over year.View all Key Company Metrics for Progress Software here>>>

Shares of Progress Software have returned -9.2% over the past month versus the Zacks S&P 500 composite's +2.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

The deadline to vote your shares and warrants is October 7, 2025 at 8:00 AM Vancouver Time.
Your vote is important no matter how many Horizon Copper shares and/or warrants you hold.
The Board of Directors of Horizon Copper recommends that Securityholders vote FOR the Arrangement Resolution.
For assistance in voting, please contact Laurel Hill Advisory Group by phone at 1-877-452-7184 (North American toll-free) or 1-416-304-0211 (outside North America), or by email at [email protected]

, /PRNewswire/ - Horizon Copper Corp. (TSXV: HCU), (OTCQB: HNCUF) ("Horizon Copper", "Horizon", or the "Company") reminds its shareholders and warrantholders (together, "Securityholders") to vote ahead of the proxy voting deadline for the upcoming Special Meeting of Securityholders (the "Meeting"). At the Meeting, Securityholders will be asked to pass a special resolution (the "Arrangement Resolution") approving an arrangement involving Horizon, Royal Gold, Inc. ("Royal Gold") and International Royalty Corporation, a wholly-owned Canadian subsidiary of Royal Gold ("AcquireCo"), whereby Royal Gold will indirectly through AcquireCo acquire all of the issued and outstanding Horizon shares (other than those held by Sandstorm Gold Ltd. ("Sandstorm")) and through Horizon acquire all of the outstanding Horizon warrants (the "Horizon Transaction").

The Board of Directors of Horizon unanimously recommends that the Securityholders vote FOR the Arrangement Resolution.

Other Updates

Royal Gold has announced that it has received all government regulatory approvals required for the Horizon Transaction and for Royal Gold's previously announced acquisition of Sandstorm.

The completion of the Horizon Transaction is subject to customary closing conditions, including, without limitation, the approvals by Securityholders described above and the approval of the Supreme Court of British Columbia. Subject to the satisfaction or waiver of the closing conditions, it is anticipated that the Horizon Transaction will close early in the fourth quarter of 2025.

Meeting Details

The Meeting is to be held on October 9, 2025 at 8:00 a.m. (Vancouver time) in the Copper Boardroom at the Company's head office located at Suite 3200, 733 Seymour Street, Vancouver, British Columbia, Canada V6B 0S6. Please visit Horizon's website at www.horizoncopper.com/special-meeting for complete details and links to all relevant documents ahead of the Meeting.

The deadline for voting by proxy is 8:00 a.m. (Vancouver time) on October 7, 2025.

In light of the current Canada Post strike, Securityholders are strongly encouraged to cast their votes online. If you have mailed in your vote, we suggest that you recast your vote online to ensure your instructions are received in a timely manner. Securityholders who require voting assistance may contact Horizon's proxy solicitation agent, Laurel Hill Advisory Group at the number below.

While the Canada Post strike is ongoing, Registered Securityholders who wish to deposit their letters of transmittal, share certificates and other required documentation, as applicable, should use courier services or hand deliver such documentation to the depositary, Computershare Investor Services Inc., at 320 Bay Street, 14th Floor, Toronto, Ontario M5H 4A6.

Questions & Voting Assistance

Securityholders who have questions about the Meeting or require assistance in voting may contact the Company's proxy solicitation agent:

Laurel Hill Advisory Group

North American Toll Free | 1-877-452-7184

Outside North America | 1-416-304-0211

By Email | [email protected]

How to Vote

REGISTERED
SECURITYHOLDERS

BENEFICIAL
SECURITYHOLDERS

(Shares and/or Warrants
Held With A Broker, Bank Or
Other Intermediary)

Internet

www.investorvote.com

www.proxyvote.com (for
Beneficial Shareholders only)

Telephone

Toll-Free: 1-866-732-8683

International: 312-588-4290

Dial the applicable number listed
on the voting instruction form.

About Horizon Copper

Horizon Copper is a premier copper company holding a portfolio of unparalleled copper assets, including a 1.66% net profits interest on the Antamina copper mine, exposure to the Oyu Tolgoi copper mine through a 24% equity ownership in Entrée Resources Ltd., and a 30% interest in the copper-gold Hod Maden project. For more information, visit www.horizoncopper.com.

Cautionary Note Regarding Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws. Forward-looking statements generally include, but are not limited to, statements with respect to management's beliefs, plans, estimates and intentions, and similar statements concerning the Horizon Transaction, the ability to complete the Horizon Transaction and the other transactions contemplated by the Arrangement Agreement (including the Sandstorm transaction) and the timing thereof, including the parties' ability to satisfy the conditions to the consummation of the Horizon Transaction, the receipt of the required securityholder approvals and court approval and other customary closing conditions, the possibility of any termination of the Arrangement Agreement in accordance with its terms or the Sandstorm transaction, and the expected benefits to Horizon and its securityholders, and other statements that are not historical facts. Although Horizon believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking information is 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 information provided by Horizon is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the possibility that the Horizon Transaction or the Sandstorm transaction will not be completed on their terms and conditions, or on the timing, currently contemplated, and that they may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, required securityholder and court approvals and other conditions to the closing of the Horizon Transaction or the Sandstorm transaction or for other reasons; the Sandstorm transaction being completed in a circumstance where the Horizon Transaction is terminated; the negative impact that the failure to complete the Horizon Transaction for any reason could have on the price of the Horizon Shares or on its business; Royal Gold's failure to pay the consideration at closing of the Horizon Transaction; the failure to realize the expected benefits of the Horizon Transaction; the restrictions imposed on Horizon while the Horizon Transaction is pending; significant transaction costs or unknown liabilities; and risks related to the diversion of management's attention from Horizon's ongoing business operations while the Horizon Transaction is pending; and other risks and uncertainties affecting Horizon such as those relating to expected capital expenditures, including exploration and development activity and the future price and demand of gold, copper, and other metals. The forward-looking statements contained in this press release are made as of the date of this press release. Horizon disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The securities referred to in this press release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. The Company assumes no obligation to update forward-looking statements except as required under securities laws. Further information concerning risks, assumptions and uncertainties associated with forward-looking statements and our business can be found in Horizon's Annual Information Form for the year ended December 31, 2024, filed under the Company's profile on SEDAR+ (www.sedarplus.ca), as well as subsequent filings that can also be found under the Company's profile.

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.

SOURCE Horizon Copper Corp.

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Monday, September 29, 2025

Market indexes spent all day in the green today, continuing new all-time high levels through a few news items throughout the day. Not all of it is positive, however: a government shutdown on Capitol Hill would keep things like Friday’s BLS jobs numbers from being released.  Also, a weekend decision by OPEC+ to raise oil production by 137K barrels per day helped drop WTI barrel priced -3.8%, while Exxon Mobil (XOM - Free Report) and BP (BP - Free Report) slid -2.5% on the day.

Thus, market indexes pared their earlier gains today. The Dow added +68 points through the course of the day, the S&P 500 — now approaching its fifth-straight positive trading month — gained +17 and the tech-heavy Nasdaq grew +107 points. The small-cap Russell 2000 was up +2 points. These indexes had been up +208, +36, +175 and +15 points, respectively.

Pending Home Sales Shoot Higher in August
The housing market got a boost last month, with Pending Home Sales increasing +4.0% from an expectation of “unched” and an upwardly revised -0.3% the previous month. Mortgage rates easing slightly have helped pending home sales — those with signed contracts at the time of the survey — in August, which may portend well for September data, as well. Pending home sales had spent six of the prior seven months with negative monthly headlines.

Newly-built homes were up in the month, and we’ve seen plenty of pent-up demand in the housing space. Traffic expectation is up to +19% from +16%, and homebuilders Lennar (LEN - Free Report) , Pulte Home (PHM - Free Report) and KB Home (KBH - Free Report) are all up more than +1% in today’s trading session, as a result.

Cannabis to Get Eased Scheduled Drug Status?
The Trump administration is openly considering easing the drug category of cannabis products like marijuana from its current Schedule I designation to Schedule III. Other Schedule I drugs are considered without medical benefit, such as heroin, morphine and LSD. Schedule II drugs include still-dangerous substances like fentanyl and cocaine. Schedule III drugs include ketamine and anabolic steroids. As a result, pure-play cannabis stock Tilray (TLRY) grew +60% today.

What to Expect from the Stock Market Tuesday
We have a decent amount of economic data hitting the tape tomorrow, including Case-Shiller Home Prices for July, and the Chicago Business Barometer and Consumer Confidence for September. Case-Shiller prices were +2.1% the previous month, demonstrating a slowing down of runaway housing costs. Chicago Business is expected to tick up a point and a half to +43.0, while Consumer Confidence is expected to narrow slightly to 95.8.

The first of the “Jobs Week” reports this week also come out Tuesday morning: the Job Openings and Labor Turnover Survey (JOLTS) for August. We look for this level to tick down to 7.1 million from 7.2 million in July. This illustrates how job opportunities are starting to dry up from the 7.7 million we saw in May and the 8.0 million back in November of last year. A 7.1 million headline would be the slimmest number of job openings since September of 2024.

Nike (NKE - Free Report) reports fiscal Q1 earnings after tomorrow’s close. This company is a solid gauge for affects of tariff policy on goods-producing businesses, and as such is expected to bring in -60% earnings growth year over year and -4.95% on revenues from a year ago. Double-digit negative earnings levels are expected for both new quarter and the current fiscal year. That said, Nike is riding eight-straight quarters of outperforming earnings expectations.

Questions or comments about this article and/or author? Click here>>

Operator

Good day, and welcome to the Precision Optics Reports Fourth Quarter and Fiscal Year 2025 Financial Results Conference Call. [Operator Instructions] Please note that this event is being recorded.

I would now like to turn the conference over to Mr. Robert Blum with Lytham Partners. Please go ahead.

Robert Blum
Lytham Partners, LLC

All right. Thank you very much, operator, and thank you to everyone joining the call today. As the operator mentioned, on today's call, we will discuss Precision Optics' fourth quarter and fiscal year 2025 financial results for the period ended June 30, 2025.

With us on the call representing the company today is Dr. Joe Forkey, Precision Optics' Chief Executive Officer; and Mr. Wayne Coll, the company's Chief Financial Officer. At the conclusion of today's prepared remarks, we will open the call for a question-and-answer session. [Operator Instructions]

Before we begin with prepared remarks, we submit for the record the following statement. Statements made by the management team of Precision Optics during the course of this conference call may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Forward-looking statements describe future expectations, plans, results or strategies and are generally preceded by words such as may, future, plan or planned, will or should, expected, anticipates, draft, eventually or projected. Listeners are cautioned that such statements are subject to a multitude of risks and

On Monday, September 29, Paul Atkins, Chairman of the Securities and Exchange Commission (SEC), publicly named crypto as a top priority for the agency during a brief interview with renowned American journalist Eleanor Terrett.

Paul’s statement has sparked fresh excitement across the crypto community as it aligns with growing speculation that the broader crypto market, with XRP at the center of attention, may be gearing up for major developments in the coming month.

What's coming for XRP?Atkins' remarks came just hours after Eleanor Terrett broke the news that the SEC had asked issuers of XRP, Solana, Cardano, and Dogecoin ETFs to withdraw their pending 19b-4 filings.

HOT Stories

While some commentators initially viewed the move as a setback for the crypto community, Terrett clarified that the opposite is true — the request is meant to speed up the approval process for these ETFs.

The withdrawal requests are consistent with the SEC’s recent approval of generic listing standards for all crypto ETFs. These new standards eliminate the need for issuers to submit individual 19b-4 forms. Instead, only an S-1 filing will be required, streamlining the process and paving the way for faster approvals.

With more than a dozen investment funds already filing for an XRP ETF and deadlines starting this week, the XRP community is increasingly optimistic that the altcoin could see a major breakout as early as October.

Is $10 XRP realistic?Although XRP has struggled repeatedly to break through the $3.60 resistance level, market watchers remain confident that October could be the month when the token finally clears that barrier.

Source: CoinMarketCapWith the first XRP ETF expected to launch in October, community sentiment has shifted toward the possibility that XRP may soon reach price levels once thought “unrealistic.”

Industry experts predict that demand from institutional funds, combined with Ripple’s ongoing partnerships, could push XRP toward the $5–$7 range in the short term, while setting the stage for a long-term surge toward $10.

Bitcoin (CRYPTO: BTC) has surged above $114,000 on Monday after Eric Trump promoted the cryptocurrency on Fox Business, calling it "the way of the future" and a clear replacement for traditional finance.

Fox Business Remarks Spotlight Bitcoin UtilityEric Trump contrasted Bitcoin's efficiency with slow hotel wire transfers, saying, "Why can I send hundreds of millions of dollars worth of Bitcoin overseas instantly or receive it instantly with virtually no fees?" 

He added that his firm, American Bitcoin Corp. (NASDAQ: ABTC), would be "one of the great Bitcoin companies anywhere in the world."

He described cryptocurrency adoption as advancing faster than the internet in the 1990s, adding that he had "never been so clear about something" in his life.

$1 Million Bitcoin? Trump Doubles DownAt the Bitcoin Asia conference in Hong Kong last month, Eric Trump predicted Bitcoin would reach $1 million within several years, citing rising institutional demand and fixed supply. 

He also praised China's role in digital assets, calling it "a hell of a power," while highlighting that both Washington and Beijing understand cryptocurrency better than most.

In a separate interview with the New York Post, Trump forecast an "unbelievable" Q4 for crypto, noting that historically, Bitcoin has delivered strong gains in the final quarter of the year.

Wall Street Bets Big As Shorts Get Crushed

BTC Derivative Analysis (Source: Coinglass)

BTC futures volume jumped 141% to $82.9 billion, while open interest climbed nearly 7% to the same level. 

Options activity also spiked, with volume up 407% and open interest at $44.1 billion, reflecting heightened institutional hedging and directional bets.

Liquidation data shows shorts absorbed heavier losses, with $83 million wiped out in the past 24 hours compared to $8 million in longs, suggesting pressure remains tilted against bearish positions.

Why It Matters

BTC Domiance Outlook (Source: TradingView)

Eric Trump's $1 million Bitcoin call arrives as the cryptocurrency steadies near $114,000 with market dominance firm around 59%.

The defense of long-term structural support underscores Bitcoin's role as the market's anchor, even as capital shifts across altcoins.

With institutional positioning climbing and Q4 historically a season of strength, the durability of Bitcoin's dominance will be a key test of whether Trump's forecast for an "unbelievable" quarter takes shape.

Image: Shutterstock

Read Next:

Bitcoin Reclaims $114,000, But Why Does The Fear & Greed Index Show ‘Fear’?

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© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

UK police seized 61,000 BTC worth $7.3 billion, marking the largest crypto seizure in British history after a seven-year probe.Zhimin Qian defrauded 128,000 victims between 2014–2017, laundering funds in the UK before pleading guilty to the scheme.The haul nearly doubles Britain’s Bitcoin stockpile, sparking debate on a potential UK Bitcoin Reserve rivaling US holdings.UK police broke crypto history with a new token seizure, taking BTC worth $7.3 billion. This is roughly equal to the British government’s entire crypto holdings.

This fortune belonged to Zhimin Qian, a Chinese national who defrauded around 128,000 people over three years. Her holdings could potentially aid a future Bitcoin Reserve in the UK.

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The UK’s Major Crypto Seizure
The Bybit hack from earlier this year was heralded as the largest theft in Web3 history, with roughly $1.5 billion in assets stolen. This was a tremendous single-day incident, but a new crypto seizure from the UK broke a new kind of record: $7.3 billion in one police action.

According to local media, Chinese national Zhimin Qian pleaded guilty to a long-running crypto scam. Between 2014 and 2017, she defrauded around 128,000 people, storing the proceeds in Bitcoin.

She then moved to Britain in 2018, attempting to launder money by purchasing property.

However, police conducted a seven-year investigation, leading to today’s guilty pleas. Between the size of her operation and BTC’s price gains, police seized a crypto stockpile that’s now worth $7.3 billion:

“This case, involving the largest cryptocurrency seizure in the UK, illustrates the scale of criminal proceeds available to those fraudsters. Today’s guilty plea by Zhimin Qian marks the culmination of many years of complex and detailed work by both the Metropolitan Police and the [Crown Prosecution Service,]” claimed Robin Weyell, a leading prosecutor on the case.

A New Opportunity?Sponsored

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UK police praised law enforcement and international cooperation in enabling this crypto seizure, but there are new unanswered questions now. The British government has been the third-largest national Bitcoin holder, but it has considered dumping its large holdings.

Now, however, this $7.3 billion crypto seizure could be a new opportunity for Britain. Apparently, Zhimin held about 61,000 BTC, which is roughly equivalent to the UK’s entire stockpile.

In other words, its Bitcoin wallets just doubled in size. Between Zhimin’s wallets and preexisting holdings, the UK might have a BTC stockpile that rivals the US.

Although America custodies a huge store of seized crypto, it plans to disperse much of this sum to fraud victims. It can’t actually build a Crypto Reserve with all its held tokens. However, since Zhimin’s victims were largely based in China, a nation with restrictive crypto policies, the UK might not be similarly obligated to reimburse tokens.

Nigel Farage, a hopeful for British Prime Minister, has been courting the crypto vote to improve his electoral chances. Although his off-hand comments about a Crypto Reserve don’t reflect a concrete plan, this seizure could be an opportunity.

If he takes office, Zhimin’s holdings might make a Reserve much more feasible.

Regardless of these tokens’ final fate, this is a momentous occasion. Although crypto crime is out of control right now, UK police obliterated records for token seizures. That’s a bullish sign for crypto crimefighters everywhere.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Solana planted a $13.5 billion flag in real-world assets (RWAs), with stablecoins in mix, and Redstone's latest report says that puts the chain in pole position for Internet Capital Markets. Redstone Analysis: Solana's Tokenized Assets Top $13.

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

Bitcoin’s next major software release, Bitcoin Core v30.0, has reignited a fraught debate over what kinds of data should be permitted to traverse and settle on the network—and who could bear legal responsibility when that data is illicit.

On Monday, cryptography pioneer Nick Szabo weighed in with a pointed warning: changes in v30.0 that relax long-standing relay policies for data-carrying transactions may heighten the legal exposure of full-node operators by making objectionable content easier to retrieve and “view” with everyday software, thereby strengthening claims that operators had knowledge of what they were relaying or storing.

Bitcoin Core V30 Update Could Be A Legal Disaster
Szabo framed the core issue in stark terms: “What then happens when full node operators become informed about illegal content on the blockchain? They then have knowledge and this particular precedent doesn’t protect them.” He added that the risk is not abstractly technical but turns on how non-technical decision-makers—lawyers, judges, and jurors—perceive what a node operator could reasonably know or do.

“A counter argument is that illegal content in a contiguous standard format, thus readily viewable by standard software, is more likely to impress lawyers, judges, and jurors… than data that has been broken up or hidden,” Szabo wrote, stressing that legal outcomes can hinge less on protocol nuance than on whether a “one-click” consumer app can surface the content.

The flashpoint is Bitcoin Core v30.0’s reversal of an informal barrier around OP_RETURN—the script pathway historically used to attach small, prunable blobs of arbitrary data to transactions. For years Core’s default mempool policy would not relay OP_RETURN payloads above ~80 bytes and limited them to one output per transaction, a non-consensus “standardness” rule that deterred large data postings without banning them at the protocol level.

“Fees protect the miners, but they don’t provide enough disincentive to protect the full nodes. This has always been a problem, of course. But increasing the OP_RETURN allowance will likely make this problem worse. It also will increase legal risks,” Szabo wrote via X.

Beginning with Bitcoin Core v30.0, the default policy shifts: nodes will by default relay and mine transactions with larger aggregate OP_RETURN data and permit multiple data-carrier outputs per transaction; the long-used -datacarriersize knob is being deprecated and repurposed, and now applies to the aggregate data across outputs. In effect, the default barrier comes down—though individual node operators can still set stricter local limits.

Core developers and supporters of the change argue that channeling non-financial data into OP_RETURN—precisely because it is prunable—can reduce systemic harm compared with stealthier encodings in non-prunable parts of transactions (e.g., faux public keys or other script hacks). As Szabo summarized the pro-Core position he has “heard”: allowing more data via OP_RETURN “conceivably may reduce legal risks,” since the alternative (hiding data in places that are not pruneable) is worse for the long-term burden on nodes.

Critics counter that relaxing defaults will normalize large, contiguous data payloads that consumer apps can trivially render, making it far easier for prosecutors to demonstrate that node operators had actual or constructive knowledge of illicit material. As Szabo put it, non-technical decision-makers will be “much more impressed” by illegal content that a familiar app can retrieve than by content requiring specialized tools. That persuasion risk, he suggests, is at the heart of operator liability.

The legality question sits awkwardly at the intersection of these technical defaults and real-world perception. Several industry participants argued in response to Szabo that arbitrary data cannot realistically be stopped at all—whether via inscriptions in witness data, encodings in public keys, or OP_RETURN—making the policy debate “fruitless.” Szabo did not dismiss that practical reality but insisted that format and user-experience matter in court: if “an app like one on their phones can retrieve the data,” that could weigh heavily against a defendant Bitcoin node operator; if it requires obscure reconstruction tools, the opposite.

What, then, is the remedy? Szabo floated two classes of mitigations, both imperfect. At the software level, he suggested making it deliberately harder for popular apps to store and retrieve generic media via either OP_RETURN or witness data—essentially nudging developers away from contiguous, human-readable formats.

At the policy level, legislators could consider liability regimes that focus on the signers of offending transactions rather than on relay/storage intermediaries such as node operators. He also emphasized heterogeneity: because legal risk and the app landscape vary by jurisdiction and over time, Bitcoin node operators need freedom to develop “messy, social/technical solutions,” with an eye on avoiding spillover into censorship of ordinary payments.

Notably, Szabo stressed that he has not taken a definitive side on the update and is “exploring the issues,” even while cautioning that “legal issues like this are far from straightforward, and they lie far outside the wheelhouse of most developers.” That, perhaps, is the most sobering takeaway as v30.0 approaches: the technical path may be clear, but the legal terrain it crosses is anything but.

At press time, Bitcoin traded at $112,079.

Bitcoin recovers above key support, 1-day chart | Source: BTCUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

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In brief
Zhimin Qian pleaded guilty to criminal acquiring and possessing criminal property and awaits sentencing.
She defrauded 128,000 Chinese individuals, ultimately turning illegally obtained funds into Bitcoin.
That Bitcoin was seized between 2018-2021 and is now valued around $7 billion.
Chinese national Zhimin Qian pleaded guilty to acquiring and possessing criminal property of 61,000 Bitcoin, now valued just shy of $7 billion, in a UK court on Monday. 

The conviction follows a seven-year investigation into international money laundering where it was discovered that Qian, who also goes by Yadi Zhang, organized a large-scale fraudulent investment scheme that defrauded 128,000 individuals. 

“Today’s guilty plea marks the culmination of years of dedicated investigation by the Met’s Economic Crime teams and our partners,” Will Lyne, The Met’s head of economic and cybercrime command, said in a statement.

“This is one of the largest money laundering cases in UK history and among the highest-value cryptocurrency cases globally,” he added “I am extremely proud of the team.”

Qian conducted the scheme between 2014-2017, defrauding individuals and ultimately turning the illegally obtained funds into Bitcoin. In 2018, she fled China and entered the UK with false documentation and later attempted to launder the money through property purchases and with the help of a conspirator, Jian Wen. 

The Met was able to seize 61,000 Bitcoin between 2018 and 2021 in what it now calls the world’s largest crypto seizure. Wen was convicted of money laundering last year, and was ordered to pay more than $3 million for her role. She was sentenced to more than six years in prison.

Civil proceedings for the recovered funds are now ongoing, but a UK-based legal partner recently told Decrypt it will be a “considerable challenge” for Chinese investors to demonstrate legitimate proprietary claims to the funds. 

“Bitcoin and other cryptocurrencies are increasingly being used by organized criminals to disguise and transfer assets, so that fraudsters may enjoy the benefits of their criminal conduct,” said Crown Prosecution Services Deputy Chief Crown Prosecutor Robin Weyell, in a statement. 

“The CPS is committed to working closely with law enforcement and investigatory authorities, to bring to justice individuals and companies who engage in laundering criminal proceeds of a cryptocurrency fraud,” she added. 

Qian was remanded into custody and will be sentenced at a later date following her guilty plea. 

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TLDR

SEC Chairman Paul Atkins has announced that crypto is a top priority for the agency.
The SEC has requested issuers of XRP, Solana, Cardano, and Dogecoin ETFs to withdraw pending filings.
This request is part of the SEC’s new approval process, which aims to speed up crypto ETF approvals.
More than a dozen funds have filed for an XRP ETF, with deadlines set for the coming weeks.
Analysts predict that XRP could break through its $3.60 resistance level and see significant price movement in October.

On Monday, September 29, Paul Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), highlighted crypto as a top priority. This statement has generated excitement, particularly within the XRP community. The remark aligns with growing speculation that the market may see significant changes in the near future, with XRP at the center.

SEC’s Recent Request on Crypto ETFs
The SEC’s latest actions have raised eyebrows in the crypto space. Just hours after Atkins’ statement, journalist Eleanor Terrett reported that the SEC requested issuers of XRP, Solana, Cardano, and Dogecoin ETFs to withdraw pending filings. Initially, many saw this as a setback for the crypto community. However, Terrett clarified that the request aims to speed up the approval process.

The SEC’s move is aligned with new standards for crypto ETFs. The commission recently approved generic listing standards, which remove the need for issuers to submit individual 19b-4 filings. Instead, issuers will only need to submit an S-1 filing, expediting the process and allowing faster approval.

With more than a dozen funds already filing for an XRP ETF, the market’s attention now turns to the upcoming developments. The timing coincides with key deadlines in the coming weeks, sparking optimism within the XRP community.

XRP Expected to Surpass $3.60 Resistance
XRP has faced repeated challenges in breaking through the $3.60 resistance level. However, analysts predict that October could bring a breakthrough for the altcoin. Some experts believe that the launch of the first XRP ETF will trigger a surge in demand.

Market sentiment is shifting toward the possibility of significant price movements. With institutional interest growing, XRP could soon see prices between $5 and $7 in the short term. Ripple’s ongoing partnerships with major financial players are expected to further fuel this momentum.

Long-term projections for XRP remain even more promising. Analysts suggest that XRP may reach $10, driven by increased institutional investments and stronger partnerships.

Pump.fun’s ease of meme coin creation fuels racist tokens, with four of the top 15 trending on DEXScreener using slurs.The low barrier to entry democratizes malicious content, allowing offensive coins like “Hitler Musk” and “Swasticoin” to spread fast.Calls for filtering grow as Buterin and Solana leaders warn DEXs’ lack of oversight lets racist and extremist tokens thrive unchecked.The emergence of multiple trending tokens launched via Pump.fun that contain racial slurs has generated widespread concern across the crypto community regarding the proliferation of discriminatory and highly offensive meme coins.

These incidents have restarted the debate over the lack of regulation in the meme coin space. The ease with which tokens can be created on launchpads inevitably facilitates the dissemination of malicious content.

Escalation of Offensive Meme CoinsSponsored

A concerning trend emerging in the meme coin industry is the proliferation of racist tokens.

Of the top 15 trending tokens on DEXScreener, four have names that contain racial slurs or allude to skin color. The tokens were all launched on the popular Solana platform, Pump.fun.

Pump.fun has come under scrutiny for the launch of racist meme coins. Source: DEX Screener.
The news comes a day after Pump.fun enthusiasts reportedly vandalized the Hollywood sign in Los Angeles, hanging up a banner with the launchpad’s signature pill logo.

Sponsored

While racist meme coins are not new to the crypto sector, their recent status as trending tokens on decentralized exchanges (DEXs) illustrates the escalating scale of the problem.

Ease of Creation and Malicious Content
Commonly described as a “meme coin factory,” Pump.fun is a decentralized platform that has transformed the creation of meme coins. The launchpad makes the process exceptionally simple, fast, and affordable. 

This extreme ease of use has drastically lowered the barrier to entry for launching hateful or racist meme coins. The increased frequency of these offensive tokens represents the democratization of malicious content.

Sponsored

A prime example came earlier this year when an American rapper announced a “Swasticoin” on X.

In a separate incident, a “Hitler Musk” token swiftly appeared on Pump.fun immediately following Elon Musk’s salute during Donald Trump’s presidential inauguration. The gesture was widely interpreted as a reference to Nazi-fascism.

Despite some attempts by industry leaders to condemn the creation of these controversial tokens, the recent incidents clearly demonstrate that the issue remains persistent.

The Regulatory Challenge of DEXsSponsored

Leading figures in the cryptocurrency sector addressed the proliferation of meme coins with offensive themes.

Ethereum co-founder Vitalik Buterin previously criticized the rise of these tokens. In the March 2024 blog post, he specifically condemned “openly super-racist” meme coins on the Solana blockchain and other tokens linked to totalitarian regimes.

The Solana Foundation has also acknowledged the issue. Austin Federa, the foundation’s head of strategy, proposed that implementing filtering mechanisms within crypto applications could be a viable solution for restricting the visibility of these controversial assets.

Yet, curbing this activity on a DEX is inherently difficult because there is no central authority to vet or police token names before launch.

Consequently, a regulatory and ethical vacuum continues to enable the creation and viral spread of these controversial tokens.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

After a strong rally earlier this year, XRP has spent the past two months consolidating in a tight trading range between $2.70 and $3.00. While some traders see this sideways action as a sign of fading momentum, others argue it is simply the calm before another leg higher.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

The running rivalry between Ripple and SWIFT resurfaced after a community callout to Ripple’s CEO. XRP supporter Panos Mek tagged Brad Garlinghouse, asking for a new statement on SWIFT. He recalled Garlinghouse’s 2018 remark that described SWIFT’s upgrade as “a Ferrari shell on a Model-T engine.”

Morgan Highlights XRP’s Strengths Amid Rise of Bank-Led ONYX Platform
That request sparked a response from Bill Morgan, a well-known lawyer and supporter of XRP. Morgan responded with a reference to ONYX. ONYX is a permissioned Ethereum-derived platform also called Kinexys, backed by a consortium of more than 30 banks. Also, SWIFT has launched a blockchain pilot and plans a stablecoin rollout in a move to rival Ripple.

Another, admittedly bigger Ethereum-derived, permissioned platform like ONYX (KINEXYS) but how is it better. Certainly it will be at a much larger scale. Definitely a competitor especially with banks.

XRP’s appeal is its decentralized, permissionless, sanction-resistant… https://t.co/RiT9pJDsvW

— bill morgan (@Belisarius2020) September 29, 2025

Morgan noted that ONYX may operate on a much larger scale but questioned how it offers any real advantage over XRP. He said XRP is neutral, permissionless and resists censorship. Such qualities, he says, make XRP fundamentally different from platforms designed by banks for banks.

This comes amid a debate about whether Ripple can stay in competition with SWIFT in the cross-border payments space. Ripple has long positioned itself as a faster and cheaper alternative to the traditional SWIFT network. SWIFT, alongside banks and ConsenSys, has even announced a shared blockchain ledger for global payments.

XRP, the digital asset linked to Ripple, has often been criticized as a “bank coin.” Yet Morgan pointed out the irony that while XRP has been labeled this way for years, it is actually the new Ethereum-derived ONYX chain that is purpose-built for a bank consortium.

Ripple’s Open Model Contrasts Bank-Controlled Blockchain Systems
His comments highlight a deeper question in the payments race. Should the future of money movement be controlled by financial institutions through permissioned platforms, or should it remain open through decentralized networks like XRP?

XRP is viewed as an instrument that enables faster payment settlements. Ripple has even outlined tokenization and stablecoins as part of its XRPL DeFi roadmap.

Conversely, ONYX is a riskless method of banks beginning with blockchain usage. The ONYX launch demonstrates that banks are increasingly depending on blockchain. Big banks desire systems that can be inaccessible to many people and that are rules-based Systems.

Ripple and XRP enable individuals to transfer funds around the universe without any middlemen. Also, this demonstrates the significant struggle between open crypto networks and private finance systems.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

In brief
An old address holding 400 Bitcoin worth over $44 million has moved their "digital gold."
The coins had sat in the digital wallet since November 2013. Bitcoin is up 16,000% since then.
A growing number of "Satoshi-era" investors have moved their Bitcoin in recent months with BTC steadily above $100K.
Another long-term Bitcoin investor is back in action and making moves.

Data from Arkham Intelligence shows that an address holding over $44 million in digital coins made a transaction after 12 years of dormancy.

Sunday was the first time the 400 Bitcoin had been touched since they arrived in the digital wallet in November 2013— just four years after the oldest blockchain came to life.

Back then, the price of Bitcoin stood at around $720, according to CoinGecko. It's now trading for over $114,000—a nearly 16,000% rise. As is often the case, it's unclear who owns the wallet, as such personally identifying information isn't included on the blockchain.

Back in 2013, the lowest price the oldest cryptocurrency touched was a mere $13. It soared to over $1,132 by the end of the year. 

Old addresses holding such large amounts of Bitcoin likely belong to miners—people or companies—who started minting new coins during the digital asset's early years.

Back then, new coins could be produced using desktop computers. But now in the increasingly industrialized Bitcoin mining world, companies use warehouses full of computers to process transactions on the crypto network. 

A number of big, long-term Bitcoin holders—known as "whales"—have started moving coins this year as the cryptocurrency dubbed "digital gold" trades comfortably above $100,000. Such moves have, in the past, spooked markets, as traders largely interpret such reactivations of old wallets as an intention to sell off the stash.

At the moment, market sentiment on Bitcoin has once again flipped bullish, with users on Myriad—a prediction market developed by Decrypt's parent company Dastan—now favoring a move to $125K over a drop to $105K at nearly 58%. Those odds had dropped as low as 29% just yesterday.

Back in July, a whale sold more than 80,000 Bitcoin—over $9 billion at the time—after holding the coins for 14 years. Analysts were initially puzzled, but institutional crypto firm Galaxy later revealed it had executed the sale for the unidentified Satoshi-era investor.

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

A surprise bounce has reclaimed a key $4,000 price floor – Ethereum price predictions now point to broader upside with fresh buyer conviction.

Market Domination anchor Josh Lipton breaks down the latest market news for September 29, 2025. Epistrophy Capital Research chief market strategist Cory Johnson joins Market Domination host Josh Lipton for a conversation about the risks of the AI market bubble and its similarities to the Dot-Com crash.

Last patient last visit (LPLV) milestone in AFFIRM-1 Phase 3 trial of BNC-210 in social anxiety disorder (SAD) achieved; topline readout anticipated in early Q4 2025

-

NEW YORK--(BUSINESS WIRE)--NYSE American LLC (“NYSE American” or the “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the three securities enumerated below (“Securities”) of dMY Squared Technology Group, Inc. (the “Company”) from NYSE American. Trading in the Company’s Securities will be suspended immediately.

NYSE Regulation reached its decision to delist the Company’s Securities pursuant to Sections 119(b) and 119(f) of the NYSE American Company Guide because the Company failed to consummate a business combination within (i) 36 months of the effectiveness of its initial public offering registration statement, or (ii) such shorter period that the Company specified in its registration statement.

The Company has a right to a review of NYSE Regulation staff’s determination to delist the Company’s Securities by the Listings Qualifications Panel of the Committee for Review of the Board of Directors of the Exchange. The NYSE American will apply to the Securities and Exchange Commission to delist the Company’s Securities upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.

More News From NYSE Regulation

Back to Newsroom

(September 29, 2025) – TheNewswire - Femto Technologies Inc. (OTCID: FMTOF) (“Femto” or the “Company”),

 is pleased to announce the appointment of Mor Bzizinsky to its board of directors. Ms. Bzizinsky received a B.A. in Law and Economics from the College of Management in Rishon LeZion, Israel. She has been an attorney since 2012 and owns and manages a private law practice.

Ms. Bzizinsky is also nominated to the Audit Committee of the company.

Mr. Yftah Ben Yaackov states: “We are very pleased to have Miss. Bzizinsky join the board as an

independent director. Ms. Bzizinsky’s business and legal background as well as the fact that she is a woman will help us advance our entry into the Femtech market with our innovative products”

About Femto Technologies Inc.

Femto Technologies Inc. (OTCID: FMTOF) is a cutting-edge femtech company spearheading transformative advancements in wellness technology. With a strong emphasis on AI-driven solutions, Femto is dedicated to innovating products that enhance well-being through intelligent technology integration.

ABOUT SENSERA

Sensera is a feminine wellness device designed to bridge the gap between feminine pleasure and wellness, providing a holistic self-care experience that adapts to a woman’s changing needs. Sensera utilizes Femto’s proprietary Smart Release System (SRS) technology, including machine learning and AI, to enhance feminine wellness. Sensera is a CES Innovation Awards® 2025 Honorary in the AI category.

For more information on Sensera, please visit www.senserawellness.com and follow us on Instagram, Facebook, and YouTube.

MEDIA CONTACT

For product demonstration and media

Samantha Breen

Opportunity PR (for Sensera)

[email protected]

+1 949.290.2834

COMPANY CONTACT

Gabi Kabazo

Chief Financial Officer

Tel: (604) 833-6820

e‐mail: [email protected]

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain statements that may be deemed “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended and under Canadian securities laws. When used in this press release, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward‐looking statements. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements.

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 or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such statements reflect the Company's current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including future financial performance, unanticipated regulatory requests and delays, final patents approval, and those factors discussed in filings made by the company with the Canadian securities regulatory authorities, including (without limitation) in the company's management's discussion and analysis for the year ended December 31, 2024 and annual information form dated March 31, 2025, which are available under the company's profile at www.sedarplus.ca, and in the Company’s Annual Report on Form 20-F for the year then ended that was filed with the U.S. Securities and Exchange Commission on March 31, 2025. Should one or more of these factors occur, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward‐looking statements, except as required by law. Any such forward-looking statements represent management's estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. Shareholders are cautioned not to put undue reliance on such forward‐looking statements.

GUANGZHOU, China, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Viomi Technology Co., Ltd. (“Viomi” or the “Company”) (NASDAQ: VIOT), a leading innovator of home water solutions in China, today celebrated the 7th anniversary of its Nasdaq listing by announcing two major strategic initiatives. Viomi unveiled a brand elevation campaign featuring a renowned celebrity spokesperson and an Olympic champion. Concurrently, the Company is strengthening its U.S. market presence with the U.S. debut of its first AI alkaline mineral water purifier, MASTER M1, now available on Amazon. Leveraging AI technology to replicate pure mineralization, the device delivers clean, mineral-rich water to households across the United States.

Brand Strategy Elevated with New Celebrity Partnerships in China

In China, Viomi has named renowned Chinese actress Shengyi Huang as its new national brand spokesperson. Known for her elegant and healthy image, Ms. Huang will embody Viomi’s “AI for Better water” brand philosophy, promoting healthier hydration habits and connecting with a new generation of consumers.

Furthering its brand-building efforts, Viomi also welcomed Olympic diving champion Liang Tian as a brand partner. Mr. Tian, accompanied by Guoxiang Li, General Manager of JD.com Home Appliances, toured Viomi’s RMB 1 billion Water Purifier Gigafactory – one of the most advanced facilities of its kind in the world. Impressed by the facility’s cutting-edge automation, intelligent production processes, and full traceability system, Mr. Tian commended Viomi’s deep commitment to technology and quality.

During his visit, Mr. Tian sampled tea brewed with water from Viomi’s Kunlun 4 Pro AI alkaline mineral water purifier, noting its superior clarity and aroma. The experience highlighted how the mild alkaline, mineralized water enhances the taste of beverages, reinforcing consumer confidence in Viomi’s innovation capability and product excellence.

MASTER M1 Launches on Amazon U.S. for US$899

Marking a key milestone in its global strategy, Viomi has officially launched the MASTER M1 AI alkaline mineral water purifier on Amazon U.S. This move brings a premium, AI-powered drinking water solution to American households, making advanced water purification technology more accessible.

Key Features of MASTER Series M1:

Pure, pH+ Alkaline Mineral Water: Replicates natural spring water by enriching it with essential minerals like calcium, magnesium, potassium, sodium, strontium, and metasilicic acid for a balanced taste. It meets the human body’s demand for multiple minerals and is closer to pure mineral water.Precision 9-Stage RO Filtration: Removes 99% of harmful contaminants down to 0.0001 micron, ensuring exceptionally clean and safe water.AI-Powered Smart Faucet: A touch-screen display provides real-time data on water quality (TDS), water volume, and filter status for a seamless, intelligent experience.Cost-Effective, Low-Maintenance Design: The long-life filter lasts up to 4 years and is designed for simple, tool-free DIY replacement, reducing cost and maintenance hassle. Mr. Xiaoping Chen, Founder and CEO of Viomi, commented, “The launch of the MASTER M1 on Amazon U.S. demonstrates our commitment to ‘AI for Better water.’ With our ongoing R&D breakthroughs, we are advancing our ‘Global Water’ strategy and brand empowerment, raising awareness of healthy drinking water worldwide. Following strong revenue and operating profit growth in the first half of this year, we will continue to lead innovation in water purification, deliver impactful new products, and maintain our leadership in the global healthy drinking water market.”

About Viomi Technology

Viomi’s mission is “AI for Better Water,” utilizing AI technology to provide better drinking water solutions for households worldwide.

As an industry-leading technology company in home water solutions, Viomi has developed a distinctive “Equipment + Consumables” business model. By leveraging its expertise in AI technology, intelligent hardware and software development, the Company simplifies filter replacement and enhances water quality monitoring, thereby increasing the filter replacement rate. Its continuous technological innovations extend filter lifespan and lower user costs, promoting the adoption of water purifiers and supporting a healthy lifestyle while effectively addressing the rising global demand for cleaner, fresher and healthier drinking water. The Company operates a world-leading “Water Purifier Gigafactory” with an integrated industrial chain that boasts optimal efficiency and facilitates continuous breakthroughs in water purification. This state-of-the-art facility enables Viomi to achieve economies of scale and accelerate the global popularization of residential water filtration.

For more information, please visit: https://ir.viomi.com.

For investor and media inquiries, please contact:
In China:
Viomi Technology Co., Ltd
Claire Ji
E-mail: [email protected]

In the United States:
Piacente Financial Communications
Brandi Piacente
Tel: +1-212-481-2050
E-mail: [email protected]

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/668e9cdb-88b7-45d2-9b98-51b7a22b6cff

https://www.globenewswire.com/NewsRoom/AttachmentNg/69ea7dc5-5ca8-4286-83ea-fcebd530370d

https://www.globenewswire.com/NewsRoom/AttachmentNg/d1403431-4d4d-4eb4-9652-546e08a9d0cc

, /PRNewswire/ -- ZK International Group Co., Ltd. (ZKIN) ("ZK International" or the "Company"), a designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products primarily used for water and gas supplies, today announced its unaudited financial results for the six months ended March 31, 2025. 

Financial Highlights for the First Half of Fiscal Year 202 5

For the Six Months Ended March 31,

($ millions, except per share data)

2025

2024

% Change

Revenue

$

40.00

$

52.89

(24.37)

%

Gross profit

$

2.19

$

3.35

(34.63)

%

Gross margin

5.47

%

6.33

%

-0.86

%

pp*

Income loss from operations

$

(0.49)

$

(0.16)

197.83

%

Operating margin

(1.22)

%

(0.31)

%

-0.91

%

pp*

Net loss

$

(0.80)

$

(0.48)

66.48 %

Diluted earnings per share

$

(0.02)

$

(0.01)

-

* pp: percentage point(s)

Revenue decreased by 24.37% to $40.00 million for the six months ended March 31, 2025 from $52.89 million for the six months ended March 31, 2024. During the first fiscal half of 2025, we faced a decrease in demand for our piping products, mainly due to the slow recovery in the real estate market (such as reduced construction projects and weakened investment momentum) during the fiscal half period. Despite our efforts to manage costs related to raw materials (including nickel, a key component of stainless steel), the dampened market demand not only lowered our sales volume but also limited our ability to adjust pricing. As a result, the combined effect of weaker sales and challenging market conditions led to the revenue decline for the six months ended March 31, 2025.
Gross profit decreased by 34.63% to $2.19 million. Gross margin was 5.47%, compared to 6.33% for the same period of the prior fiscal period. The falling revenue, along with increased raw materials costs (particularly for stainless steel which is a key component of our products), has outpaced our cost optimization efforts which led to a decline in gross margin.
Loss from operations was $0.49 million, compared to loss from operations of $0.16 million for the same period of the prior fiscal year. Operating margin was (1.22)%, compared to (0.31)% for the same period of the prior fiscal year.
Net loss was $0.8 million. This compared to a net loss of $0.48 million for the same period of the prior fiscal year.

Financial Results for the First Half of Fiscal Year 202 5

Revenue

Revenue decreased by $12,890,784.00 or 24.37%, to $39,996,372 for the six months ended March 31, 2025 from $52,887,156 for the six months ended March 31, 2024. During the first fiscal half of 2025, we faced a decrease in demand for our piping products, mainly due to the slow recovery in the real estate market (such as reduced construction projects and weakened investment momentum) during the fiscal half period. Despite our efforts to manage costs related to raw materials (including nickel, a key component of stainless steel), the dampened market demand not only lowered our sales volume but also limited our ability to adjust pricing. As a result, the combined effect of weaker sales and challenging market conditions led to the revenue decline for the six months ended March 31, 2025.

Gross Profit

Our gross profit decreased by $1,163,908, or 34.74%, to $2,186,102 for the six months ended March 31, 2025 from $3,350,010 for the six months ended March 31, 2024. Gross profit margin was 5.47% for the six months ended March 31, 2025, as compared to 6.33% for the six months ended March 31, 2024. The decrease of our gross profit was mainly attributable to the revenue decline amid real estate market sector. Moreover, persistent raw materials costs (particularly for stainless steel, a key component of our products) have outpaced our cost optimization efforts, which led to a decline in gross margin.

Selling and Marketing Expenses

We incurred $881,686 in selling and marketing expenses for the six months ended March 31, 2025, compared to $880,824 for the six months ended March 31, 2024. Selling and marketing expenses increased by $862, or 0.10%, during the six months ended March 31, 2025 compared to the six months ended March 31, 2024.

General and Administrative expenses

We incurred $1,396,466 in general and administrative expenses for the six months ended March 31, 2025, compared to $2,010,566 for the six months ended March 31, 2024. General and administrative expenses decreased by $614,100 or 30.54%, for the six months ended March 31, 2025 compared to the same period in 2024. The decrease is primarily due to reductions in consulting expenses and employee related costs.

Research and Development Expenses

We incurred $396,934 in research and development expenses for the six months ended March 31, 2025, compared to $622,805 for the six months ended March 31, 2024. R&D expenses decreased by $225,871, or 36.27%, for the six months ended March 31, 2025 compared to the same period in 2024.

Income (loss) from Operations

As a result of the factors described above, we incurred operating loss of $488,984 for the six months ended March 31, 2025, compared to operating loss of $164,185 for the six months ended March 31, 2024, an increase of operating loss of $324,799.

Other Income (Expenses)

Our interest income and expenses were $4,052 and $349,499, respectively, for the six months ended March 31, 2025, compared to interest income and expenses of $7,868 and $411,045, respectively, for the six months ended March 31, 2024.

Net Income (loss) 

As a result of the factors described above, we incurred net loss of $802,028 for the six months ended March 31, 2025, compared to net loss of $481,753 for the six months ended March 31, 2024, an increase in net loss of $320,275. 

Financial Condition

As of March 31, 2025, cash and cash equivalents, restricted cash and short-term investments totaled $1.61 million, compared to $4.16 million as of September 30, 2024. Short-term bank borrowings were $11.19 million as of March 31, 2025, compared to $10.26 million as of September 30, 2024. 

Accounts receivable was $19.82 million as of March 31, 2025, compared to $22.39 million as of September 30, 2024. Inventories were $15.49 million as of March 31, 2025, compared to $13.53 million as of September 30, 2024. Accounts payable was $2.43 million as of March 31, 2025, compared to $3.13 million as of September 30, 2024.

Total current assets and current liabilities were $55.30 million and $45.39 million, respectively, leading to a current ratio of 1.22 as of March 31, 2025. This compared to total current assets and current liabilities were $62.74 million and $24.89 million, respectively, and current ratio of 1.26 as of September 30, 2024.

About ZK International Group Co., Ltd.

ZK International Group Co., Ltd. is a China-based designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products that require sophisticated water or gas pipeline systems. The Company owns 33 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards. ZK International is Quality Management System Certified (ISO9001), Environmental Management System Certified (ISO1401), and a National Industrial Stainless Steel Production Licensee that is focused on supplying steel piping for the multi-billion dollar industries of Gas and Water sectors. ZK has supplied stainless steel pipelines for over 2,000 projects, including the Beijing National Airport, the "Water Cube", and "Bird's Nest", which were venues for the 2008 Beijing Olympics.  Emphasizing superior properties and durability of its steel piping, ZK International is providing a solution for the delivery of high quality, highly sustainable, environmentally sound drinkable water not only to the China market but also to international markets such as Europe, East Asia, and Southeast Asia.

For more information please visit www.ZKInternationalGroup.com. Additionally, please follow the Company on Twitter, Facebook, YouTube, and Weibo. For further information on the Company's SEC filings please visit www.sec.gov.

Safe Harbor Statement 

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Without limiting the generality of the foregoing, words such as "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. These forward-looking statements are not guarantee of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict and many of which are beyond the control of ZK International. Actual results may differ from those projected in the forward-looking statements due to risks and uncertainties, as well as other risk factors that are included in the Company's filings with the U.S. Securities and Exchange Commission. Although ZK International believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in forward-looking statements will be realized.  In light of the significant uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by ZK International or any other person that their objectives or plans will be achieved. ZK International does not undertake any obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

ZK International Group Co., Ltd. and Subsidiaries

Consolidated Statements of Income and Comprehensive Income (Loss)

For the Six Months Ended March 31, 2025 and 2024 (Unaudited)

(IN U.S. DOLLARS, EXCEPT SHARE DATA)

For the Six Months Ended 
March 31,

2025

2024

Revenues

39,996,372

$

52,887,156

Cost of sales

37,810,270

49,537,146

Gross profit

2,186,102

3,350,010

Operating expenses:

Selling and marketing expenses

881,686

880,824

General and administrative expenses

1,396,466

2,010,566

Research and development costs

396,934

622,805

Total operating expenses

2,675,086

3,514,195

Operating income (loss)

(488,984)

(164,185)

Other income (expenses):

Interest expenses

(349,499)

(411,045)

Interest income

4,052

7,868

Other income (expenses), net

46,574

92,816

Total other income (expenses), net

(298,873)

(310,361)

Income (Loss) before income taxes

(787,857)

(474,546)

Income tax provision

(14,171)

(7,207)

Net income (loss)

(802,028)

(481,753)

Net income (loss) attributable to non-controlling interests

(5,227)

-

Net income (loss) attributable to ZK International Group Co., Ltd.

(796,801)

(481,753)

Net income (loss)

(802,028)

(481,753)

Other comprehensive income:

Foreign currency translation adjustment

Total comprehensive income (loss)

(802,028)

(481,753)

Comprehensive income (loss) attributable to non-controlling interests

(1,688)

(9,284)

Comprehensive income attributable to ZK International Group Co., Ltd.

(803,716)

(472,468)

Basic and diluted earnings per share

Basic

(0.15)

(0.11)

Diluted

(0.15)

(0.11)

Weighted average number of shares outstanding

Basic

5,232,469

4,492,280

Diluted

5,232,469

4,492,280

ZK International Group Co., Ltd. and Subsidiaries

Consolidated Balance Sheets

As of March 31, 2025 and September 30, 2024 (Unaudited)

( IN U.S. DOLLARS)

As of September 30, 

2024

2023

Assets

Current assets

Cash and cash equivalents

$

1,559,434

$

4,009,387

Restricted cash

46,714

103,917

Short-term Investment

-

50,111

Accounts receivable, net of allowance for doubtful accounts and provision for expected credit loss
of $7,330,890 and $7,580,664, respectively

19,816,792

22,393,810

Notes receivable

750,672

355,761

Prepayment, deposit and other receivable - current

8,166,269

4,657,014

Inventories

15,487,586

13,528,170

Advance to suppliers

9,469,805

17,641,946

Total current assets

55,297,272

62,740,116

Property, plant and equipment, net

7,957,533

8,104,335

Right-of-use asset – Operating lease

212,915

162,103

Intangible assets, net

1,234,704

1,282,939

Deferred tax assets

—

Prepayment, deposit and other receivable - Non-current

261,576

271,201

Long-term prepayment

—

Long-term accounts receivable

4,788,657

5,379,311

Long-term investment

2,037,086

2,046,868

TOTAL ASSETS

$

71,789,743

$

79,986,873

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:

Accounts payable

$

2,426,968

$

3,125,104

Accrued expenses and other current liabilities

3,749,209

4,261,080

Operating lease liability - current

-

12,280

Accrued payroll and welfare

2,662,269

2,323,244

Advance from customers

10,081,298

14,861,280

Due to related parties

70,500

216,906

Convertible debentures

4,917,683

4,917,683

Bank borrowings - current

11,194,069

10,259,918

Long-term Bank borrowings - current

9,795,775

9,765,447

Notes payables

493,219

124,957

Total current liabilities

45,390,990

49,867,899

Operating lease liability – non-current

—

Bank borrowings – non-current

-

1,802,468

TOTAL LIABILITIES

$

45,390,990

$

51,670,367

COMMITMENTS AND CONTINGENCIES

—

Equity

Common stock, no par value, 50,000,000 shares authorized, 5,232,469 and 5,163,946 shares
issued and outstanding, respectively

—

Additional paid-in capital

77,886,898

77,886,898

Statutory surplus reserve

3,176,556

3,176,556

Subscription receivable

(125,000)

(125,000)

Retained earnings (Deficits) 

(51,245,374)

(50,448,573)

Accumulated other comprehensive loss

(3,449,608)

(2,326,968)

Total equity attributable to ZK International Group Co., Ltd.

26,243,472

28,162,913

Equity attributable to non-controlling interests

155,281

153,593

Total equity

26,398,753

28,316,506

TOTAL LIABILITIES AND EQUITY

$

71,789,743

$

79,986,873

SOURCE ZK International Group Co., Ltd.

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New Step-Out and Infill Results Build Confidence in Resource Growth and Model Robustness
September 29, 2025 5:00 PM EDT | Source: Allied Critical Metals Inc.
Vancouver, British Columbia--(Newsfile Corp. - September 29, 2025) - Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE: 0VJ0) ("Allied" or the "Company"), which is focused on its 100% owned past producing Borralha and Vila Verde tungsten projects in northern Portugal, is pleased to report assay results from two additional Reverse Circulation (RC) drill holes - Bo_RC_21 and Bo_RC_26 - from its ongoing 5,000-metre campaign at the 100%-owned Borralha Tungsten Project in northern Portugal.

These latest results continue to demonstrate the scale and continuity of mineralization at the Santa Helena Breccia (SHB), with intercepts that support both lateral expansion and model refinement.

Highlights:

Bo_RC_21: This drill hole is a west step-out at the North edge of the St. Helena Breccia that confirms continuity of the recently discovered north-dipping lode outside the current MRE envelope, upgrading this area to a large coherent mineralized "in section" corridor with more than 100 m width.

42.0m at 0.19% WO3 (from 256.0 m to 298.0 m), including:24.0m at 0.28% WO3 (from 256.0 m to 280.0 m)18.0m at 0.34% WO3 (from 256.0 m to 274.0 m)8.0m at 0.40% WO3 (from 266.0 m to 274.0 m)4.0m at 0.62% WO3 (from 266.0 m to 270.0 m)Bo_RC_26: This drill hole is an infill hole targeting the north-central zone, enhancing confidence in the resource model and suggesting western expansion potential.

26.0m at 0.24% WO3 (from 140.0 m to 166.0 m), including:12.0m at 0.38% WO3 (from 140.0 m to 152.0 m)2.0m at 2.02% WO3 (from 140.0 m to 142.0 m)Drill Program Progress

To date, 3,721 metres of RC drilling have been completed out of the planned 5,728 metres, with multiple assay results already confirming thick mineralized zones and consistent grade distribution. The current campaign is designed to support:

The expansion of the Mineral Resource Estimate (MRE), expected in Q4 2025.The development of a robust Preliminary Economic Assessment (PEA).The delineation of potential higher-grade corridors for future mine planning.Roy Bonnell, CEO and Director of ACM, commented: "With each new intercept, we are seeing our understanding of Borralha evolve and strengthen. Bo_RC_21 confirms mineralization well beyond the current model, while Bo_RC_26 tightens the block model in a key zone. Together, these results support both immediate growth and long-term confidence in Borralha's development potential."

Table 1 - Drill Hole Collar Locations

IDCoordinates (WGS84) Az.(º)Dip .(º)PFD (m)DEPTH (m)StatusBo_RC_14/25585445461140510980250264.00Press ReleasedBo_RC_15/25585347461136810970300255.00Press ReleasedBo_RC_16/25585406461132910560240251.00Assay ongoingBo_RC_17/25585426461129410975250255.00Press ReleasedBo_RC_18/25585461461143110975300241.00Assay ongoingBo_RC_19/25585470461149310982350248.00Assay ongoingBo_RC_20/25585541461151910970350237.00Assay ongoingBo_RC_21/25585481461155710985400370.00Current Press ReleaseBo_RC_22/25585484461155210970360375.00Press ReleasedBo_RC_23/25585514461158810980-45.00CancelledBo_RC_24/255855144611588090-42.00CancelledBo_RC_25/255854344611406090300291.00Assay ongoingBo_RC_26/25585586461144928960400278.00Current Press ReleaseBo_RC_27/255854644611513090350251.00Assay ongoingBo_RC_28/25585576461156729080400318.00Assay ongoingBo_RC_29/25585449461138610987300-Drilling ongoingBo_RC_30/255854434611429090320-Drilling ongoingTable 2 - Current Campaign Interval Highlights Update

New IDFrom (m)To (m)DH length (m) [1]True Width Factor [1]True Width (m) [1]WO3 (%)Bo_RC_14/2552.064.012.0tbd [2]-4.27inc.52.058.06.0"-8.39Bo_RC_15/25164.0166.02.00.881.80.97Bo_RC_17/2552.0152.0100.00.9089.90.21inc.92.0124.032.00.9028.80.33inc.106.0120.014.00.9012.60.52inc.110.0116.06.00.905.40.74Bo_RC_21/25256.0298.042.0tbd [2]unknown0.19inc.256.0280.024.0"unknown0.28inc.256.0274.018.0"unknown0.34inc.266.0274.08.0"unknown0.40inc.266.0270.04.0"unknown0.62Bo_RC_22/25284.0348.064.0tbd [2]unknown0.12inc.316.0332.016.0"unknown0.21Bo_RC_26/25140.0166.026.00.3910.20.24inc.140.0152.012.00.404.70.38inc.140.0142.02.00.400.82.02Notes: [1] Reported intervals are downhole lengths. Estimated true widths were calculated from hole orientation and the interpreted geometry of the mineralized corridors. Estimates may vary locally where geometry changes. Where intervals fall outside the resource block-model domains, true widths are not estimated and only downhole lengths are reported. [2] True widths are unknown, to be defined after further MRE update.

Figure 1 - Drill collar plan showing planned holes for the ongoing 5,728 m RC campaign at the Borralha Project. The red outline delineates the main mineralized breccia zone

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/268354_73bff5a8941de85b_001full.jpg

Figure 2 - Geological Cross-Section for hole Bo_RC_21/25.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11632/268354_alliedcritical2.jpg

Strategic Context

These results follow recently reported ultra-high-grade and extensive tungsten intercepts, including 12.0 m @ 4.27% WO₃ (Bo_RC_14/25), and 100.0 m @ 0.21% WO₃ (Bo_RC_17/25), confirming a significant system within the Santa Helena Breccia. Allied is working systematically to define both bulk-mineable zones and higher-grade corridors that can support future underground or hybrid extraction scenarios.

Next Steps

Drilling is ongoing, with further results expected in the coming weeks. Step-out holes are targeting both western and northern extensions of SHB, while infill drilling is refining the core resource model. Results will continue to inform the MRE and subsequent economic studies.

In light of the recent new discovery of the very high grade corridor at the west dip of the central area of the Breccia, the Company has adapted the current campaign towards confirming, and potentially expanding upon the recent very high grade intercepts.

Sampling, QA/QC and Analytical Notes

Drilling was completed using reverse-circulation (RC). All sample bags were pre-labelled with a unique internal sequence number used consistently for the assay sample and corresponding reject. Sampling was conducted on 2.0 m intervals for analytics. For each 2.0 m interval, two 1.0 m reject samples were also collected as representative splits. Splitting was performed at the rig via a rotary splitter integral to the RC cyclone.

Sampling followed pre-prepared sample lists that recorded downhole metreage, sequence, and the placement of Certified Reference Materials (CRMs) and field duplicates. CRMs were inserted at a rate of 1 in 20 samples (5%) and field duplicates at 1 in 20 samples (5%), arranged so that every 10th sample alternated between a CRM and a duplicate.

Analytical and reject samples were boxed at the drill site and transported by company personnel to the project core/logging facility. Analytical samples were stored on labelled pallets pending direct shipment to ALS's preparation laboratory in Seville, Spain. Pulps and rejects were subsequently stored securely in the project logging room.

At ALS Seville, samples were crushed to 70% passing 2 mm, riffle-split to ~250 g, and pulverized using hardened steel to 85% passing 75 μm. Pulps were shipped to ALS Loughrea (Ireland) for analysis. The primary analytical method was ME-MS81 (lithium borate fusion with ICP-MS finish). Base metals were also reported using ME-4ACD81 (four-acid digestion with ICP-MS finish). Over-limit tungsten results were re-assayed using W-XRF15b (lithium borate fusion with XRF). Analytical results were delivered directly by ALS to the Company via secure electronic transfer.

Primary disclosure remains the reported grade and interval length (and true width where known).

To the best of the Company's knowledge, no drilling, sampling, recovery, or other factors have been identified that would materially affect the accuracy or reliability of the data referenced herein.

Qualified Person

The scientific and technical information in this news release has been reviewed and approved by Mr. Vítor Arezes, BSc, MIMMM (QMR) (Membership Nº. 703197, Vice-President Exploration of Allied Critical Metals, who is a Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Arezes is not independent of Allied Critical Metals Inc. as he is an officer of the Company.

About the Borralha Tungsten Project

Allied's Borralha Tungsten Project is one of the largest and most historically significant past-producing tungsten operations in Western Europe. Located in northern Portugal, Borralha was once the second-largest tungsten mine in the country and supplied strategic materials to European and Allied industries during the 20th century, including both World Wars and the Cold War period.

Today, the project is undergoing a modern revitalization based on a combination of scale, grade, metallurgy, and jurisdictional strength. Mineralization is dominated by coarse-grained wolframite, which is highly desirable in global markets due to its favorable processing characteristics and higher recoveries compared to scheelite-bearing deposits.

Borralha benefits from existing infrastructure, shallow mineralization, and a simple processing route, making it one of the most advanced tungsten development projects in the European Union. These attributes are particularly important in the context of the EU Critical Raw Materials Act (2024/1252) and NATO strategic autonomy initiatives, both of which explicitly identify tungsten as a defense-critical raw material subject to severe supply risk.

With the EU currently dependent on over 80% of its tungsten imports from China, Borralha represents a rare and strategic opportunity to develop a secure, domestic, and NATO-aligned supply source. As Allied continues to advance drilling, resource expansion, and economic studies, Borralha is poised to play a central role in reshaping Europe's tungsten landscape-supporting both decarbonization technologies and defense-industrial resilience.

Understanding Tungsten

To understand tungsten, it is critical to understand the difference between wolframite tungsten mineralization and scheelite tungsten mineralization. Scheelite often reports higher grades but is typically more costly and complex to process, requiring flotation methods with higher capital and operating expenditures and lower recoveries.i In contrast, wolframite can be processed more efficiently using gravity and magnetic separation, resulting in lower costs and higher recoveries, making lower grades economically viable in wolframite deposits. For example, a lower grade wolframite deposit can be more attractive than a slightly higher grade scheelite deposit.ii

It is also important to recognize that China, Russia, and North Korea control approximately 87% of the world's tungsten supply, using cheap labor and minimal environmental standards in authoritarian regimes.iii As a result, production costs and grades in these countries are not comparable to Western projects, which operate under higher labor, ESG, and energy cost structures. Evaluating projects outside these regions provides a realistic benchmark for what grades and intercepts are economically viable while supporting secure, NATO-aligned supply chains.

For Allied, this context is significant. Allied's operations in secure jurisdictions align with Western critical mineral needs, avoiding geopolitical risks associated with China and Russia while positioning the Company to benefit from growing tungsten demand across defense, aerospace, and electrification sectors. Allied's wolframite tungsten mineralization and secure location position it as a strategic and responsible tungsten exploration company, well placed to take advantage of a rising-demand market. iv

About Allied Critical Metals Inc.

Allied Critical Metals Inc. (CSE: ACM) (OTCQB: ACMIF) (FSE:0VJ0) is a Canadian-based mining company focused on the expansion and revitalization of its 100% owned past producing Borralha Tungsten Project and the Vila Verde Tungsten Project in northern Portugal with advantageous wolframite tungsten mineralization. Tungsten has been designated a critical metal by the United States and other western countries, as they are aggressively seeking friendly sources of this unique metal. Currently, China, Russia and North Korea represent approximately 86% of the total global supply and reserves. Tungsten is used in a variety of industries such as defense, automotive, manufacturing, electronics, and energy.

ON BEHALF OF THE BOARD OF DIRECTORS

"Roy Bonnell"

Roy Bonnell
CEO and Director

Please visit our website at www.alliedcritical.com.

Also visit us at:
LinkedIn: https://www.linkedin.com/company/allied-critical-metals-inc
X: https://x.com/@alliedcritical/
Instagram: https://www.instagram.com/alliedcriticalmetals/

The Canadian Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking statements", including with respect to the use of proceeds. Wherever possible, words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "potential for" and similar expressions have been used to identify these forward-looking statements. These forward-looking statements reflect the current expectations of the Company's management for future growth, results of operations, performance and business prospects and opportunities and involve significant known and unknown risks, uncertainties and assumptions, including, without limitation, those listed in the Company's Listing Statement and other filings made by the Company with the Canadian securities regulatory authorities (which may be viewed under the Company's profile at www.sedarplus.ca ). Examples of forward-looking statements in this news release include, but are not limited to, statements regarding the proposed timeline and use of proceeds for exploration and development of the Company's mineral projects as described in the Company's Listing Statement, news releases, and corporate presentations. Should one or more of these risks or uncertainties materialize or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's Listing Statement dated April 23, 2025 and news release dated May 16, 2025, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. The Company disclaims any intention or obligation to revise forward-looking statements whether as a result of new information, future developments or otherwise, except as required by law.

iInternational Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

ii International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

iii International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

iv International Tungsten Industry Association (ITIA). (2023). Tungsten: Global industry, markets & outlook. Retrieved from https://www.itia.info

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268354

Company Receives TSX Approval for Renewal of Normal Course Issuer Bid

, /PRNewswire/ - Ovintiv Inc. (NYSE: OVV), (TSX: OVV) today announced it has received regulatory approvals for the renewal of its share buy-back program. This action is consistent with Ovintiv's capital allocation framework, which returns at least 50 percent of post base dividend Non-GAAP Free Cash Flow to shareholders.

Ovintiv Renews Annual Share Buy-Back Program (CNW Group/Ovintiv Inc.)

The Toronto Stock Exchange ("TSX") has accepted Ovintiv's notice of intention to renew its normal course issuer bid ("NCIB") to purchase up to 22,287,709 common shares during the 12-month period commencing October 3, 2025, and ending October 2, 2026. The number of shares authorized for purchase represents 10 percent of Ovintiv's public float as of September 26, 2025, as calculated pursuant to TSX rules. Purchases will be made on the open market through the facilities of the TSX, New York Stock Exchange ("NYSE"), other designated exchanges and/or alternative trading systems in Canada and the United States at the market price at the time of acquisition, as well as by other means permitted by stock exchange rules and securities laws including Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

Ovintiv has also renewed its automatic share purchase plan ("ASPP") allowing it to purchase common shares under the NCIB when Ovintiv would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed blackout periods. Pursuant to the ASPP, Ovintiv will provide instructions during non-blackout periods to its designated broker, which may not be varied or suspended during the blackout period. Purchases by Ovintiv's designated broker will be in accordance with applicable stock exchange rules and securities laws and the terms of the ASPP. All purchases made under the ASPP are included in computing the number of common shares purchased under the NCIB. The ASPP has been pre-cleared as required by the TSX.

The actual number of common shares that may be purchased under the NCIB and the timing of any such purchases will be determined by Ovintiv. The average daily trading volume through the facilities of the TSX, excluding purchases made on such facilities, for the six months ended August 31, 2025 was 185,256 common shares. Consequently, daily purchases through the facilities of the TSX will be limited to 46,314 common shares, other than block purchase exceptions. Purchases over the NYSE will be made in compliance with the volume limitations in Rule 10b-18 in relation to average daily trading volume and block trades. All common shares acquired by Ovintiv under the NCIB may be cancelled or returned to treasury as authorized but unissued shares.

Pursuant to its existing NCIB, under which Ovintiv received approval from the TSX to purchase up to 25,920,545 common shares during the 12-month period commencing October 3, 2024 and ending October 2, 2025, Ovintiv has purchased 7,836,011 common shares on the TSX, NYSE and alternative trading systems at a weighted average purchase price of US$38.80 per common share.

On June 5, 2025, Ovintiv renewed its exemption order (the "NCIB Exemption") from applicable Canadian regulators, permitting Ovintiv to make repurchases under the NCIB through the facilities of the NYSE and other United States-based trading systems in excess of 5 percent of Ovintiv's outstanding number of shares, the maximum allowable under applicable Canadian securities laws absent an exemption. The NCIB Exemption allows Ovintiv to repurchase up to 10 percent of Ovintiv's public float on such U.S. marketplaces provided that Ovintiv's aggregate repurchases on all marketplaces do not exceed this amount over the 12-month period of the NCIB, which is consistent with the maximum number of shares Ovintiv is able to purchase under the NCIB. The other conditions to the NCIB Exemption are outlined in Ovintiv's 2025 second quarter report on Form 10-Q filed on EDGAR and SEDAR+.     

ADVISORY REGARDING FORWARD-LOOKING STATEMENTS - This news release contains certain forward-looking statements or information (collectively, "FLS") within the meaning of applicable securities legislation, including the United States Private Securities Litigation Reform Act of 1995. FLS include: the planned share repurchase program, including the amount and number of shares to be acquired, treatment of such shares following purchase, anticipated timeframe, method and location of purchases, announced capital framework; and benefits of the NCIB.

Readers are cautioned against unduly relying on FLS which, by their nature, involve numerous assumptions, risks and uncertainties that may cause such statements not to occur, or results to differ materially from those expressed or implied. These assumptions include: future commodity prices and differentials; foreign exchange rates; ability to access cash, credit facilities and shelf prospectuses; and expectations and projections made in light of, and generally consistent with, Ovintiv's historical experience and its perception of historical trends, including with respect to the pace of technological development, benefits achieved and general industry expectations.

Risks and uncertainties that may affect these business outcomes include: ability to generate sufficient cash flow to meet obligations and fund the NCIB; commodity price volatility; variability in the amount, number of shares, method, location and timing of purchases, if any, pursuant to the NCIB; fluctuations in currency and interest rates; and other risks and uncertainties impacting Ovintiv's business, as described in its most recent Annual Report on Form 10-K and as described from time to time in Ovintiv's other periodic filings as filed on EDGAR and SEDAR+.

Although Ovintiv believes the expectations represented by such FLS are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned that the assumptions, risks and uncertainties referenced above are not exhaustive. FLS are made as of the date of this news release and, except as required by law, Ovintiv undertakes no obligation to update publicly or revise any FLS. FLS contained in this news release are expressly qualified by these cautionary statements.

Further information on Ovintiv is available on the company's website, www.ovintiv.com, or by contacting:

Investor contact:

(888) 525-0304                      

Media contact:
(403) 645-2252

SOURCE Ovintiv Inc.

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