• The agreement is a milestone in VMAR’s strategic evolution from a specialized electric propulsion manufacturer to a comprehensive marine retail powerhouse.
• The strategic importance of this partnership becomes evident when considering Florida’s dominant position in the American boating market.
• This distribution agreement follows Vision Marine’s transformative June 2025 acquisition of Nautical Ventures.

In a bold move to dominate America’s most lucrative boating market, Vision Marine Technologies (NASDAQ: VMAR) has locked in exclusive distribution rights for premium Nimbus Boats throughout Florida’s West Coast, positioning the company to capture a significant slice of the state’s massive $6.4 billion annual powerboat sales (https://ibn.fm/T0MHH). Vision Marine Technologies is revolutionizing the marine industry as a pioneering technology company that manufactures zero-emission electric boats while operating North America’s first integrated electric propulsion and multi-brand retail empire, bridging the gap between traditional boating and the sustainable future of watercraft.

The agreement represents a significant milestone in Vision Marine’s strategic evolution from a specialized electric propulsion manufacturer to a comprehensive marine retail powerhouse. Through Nautical Ventures, its Florida-based dealership network, Vision Marine has signed a letter of intent (“LOI”) with Nimbus Boats USA to exclusively distribute Nimbus powerboats across Florida’s West Coast region. This agreement, expected to be finalized by March 31, 2026, will authorize Nautical Ventures to promote, sell and service Nimbus’s complete product lineup, including their Tender, Commuter, Weekender and Coupe series beginning this month.

The strategic importance of this partnership becomes evident when considering Florida’s dominant position in the American boating market. Florida remains the largest U.S. market for new powerboats, engines and accessories, generating $6.4 billion in 2023 sales. This market leadership position makes Florida an essential territory for any marine company seeking to establish meaningful market presence and revenue growth in the recreational boating sector.

Vision Marine’s approach to this expansion reflects a calculated strategy to broaden its product portfolio while strengthening its geographical presence in critical markets. The Nimbus distribution agreement aims to capture demand in what the company identifies as the fast-growing, adventure-style boat segment, complementing Vision Marine’s existing electric propulsion offerings with traditional powerboat options that appeal to diverse customer preferences and use cases.

This distribution agreement follows Vision Marine’s transformative June 2025 acquisition of Nautical Ventures, a strategic move that created what the company describes as North America’s first electric boat propulsion and multibrand retail company (https://ibn.fm/BdrQg). This acquisition fundamentally altered Vision Marine’s business model, expanding the company beyond its original focus on electric propulsion technology to encompass comprehensive retail and service operations across the East Coast of the United States.

The foundational technology that distinguishes Vision Marine in the marketplace centers on its flagship E-Motion(TM) 180E system, described as a fully industrialized, high-voltage electric outboard system designed specifically for recreational boating applications (https://ibn.fm/fU3WZ). This advanced powertrain delivers continuous 180 HP performance while producing zero emissions, representing more than two decades of engineering development in electric marine propulsion. 

The company’s mission extends beyond simple product manufacturing to encompass broader environmental stewardship and industry transformation. Vision Marine is leading the innovation of the traditional boating market by only manufacturing electric boats producing zero emissions, keeping the natural environment completely clean. This environmental focus aligns with growing consumer awareness and regulatory pressure regarding emissions and environmental impact in recreational activities.

Vision Marine’s technological innovation represents a significant advancement in marine propulsion capabilities, addressing historical limitations that have restricted electric boating adoption. Electric marine propulsion has been around for some time, but never at this level of power. This advanced technology harnesses the full potential of high voltage, delivering powerful performance with zero emissions in a noiseless and odorless experience. This combination of performance and environmental benefits positions the company to capture market share as the recreational boating industry transitions toward more sustainable technologies.

The strategic positioning achieved through the Nautical Ventures acquisition along with the Nimbus distribution agreement creates a unique market position for Vision Marine. Through Nautical Ventures’ retail operations, Vision Marine now offers both traditional internal combustion engine boats and next-generation electric propulsion solutions, providing a comprehensive product range that meets current market demands while positioning the company for future market evolution.

This dual approach addresses a critical challenge facing electric vehicle adoption across transportation sectors: the need to maintain customer choice and operational flexibility during technological transition periods. By offering both traditional and electric options, Vision Marine can serve customers at various stages of adoption readiness while building market presence and customer relationships that support long-term electric propulsion adoption.

The company’s vision encompasses broader industry transformation, positioning Vision Marine as “the future of marine propulsion and a driving force in the conservation of waterways.” This insightful positioning reflects recognition that successful technology adoption requires not just superior products but also comprehensive market infrastructure, customer support and strategic partnerships that facilitate widespread adoption.

Looking ahead, the Nimbus distribution agreement represents more than a simple product line extension; it demonstrates Vision Marine’s commitment to building sustainable competitive advantages through strategic market positioning, geographic expansion, and comprehensive customer service capabilities. As the recreational boating industry continues evolving toward more sustainable technologies, Vision Marine’s integrated approach positions the company to capture value across multiple market segments while advancing environmental conservation objectives.

For more information, visit www.VisionMarineTechnologies.com.

NOTE TO INVESTORS: The latest news and updates relating to VMAR are available in the company’s newsroom at https://ibn.fm/VMAR

• D-Wave launches initiative to develop advanced cryogenic packaging for both gate-model and annealing quantum processors.
• The program will expand multichip packaging capabilities, manufacturing equipment, and processes.
• Initiative leverages expertise from NASA’s Jet Propulsion Laboratory (“JPL”) for superconducting bump-bond technology.
• The goal is to increase interconnectivity and scalability for architectures reaching 100,000 qubits.

D-Wave Quantum Inc. (NYSE: QBTS) (“D-Wave”), a leader in quantum computing systems, software, and services, has announced a strategic development program to expand its capabilities in cryogenic packaging, designed to advance and scale both gate-model and annealing quantum processors. The initiative underscores the company’s focus on hardware innovation to support its long-term technology roadmap (https://ibn.fm/WU30l).

Cryogenic packaging – the housing and interconnection of quantum processor components in extremely low-temperature environments – plays a central role in performance and scalability. In quantum computing, packaging must not only handle ultra-low temperatures but also be compatible with ultra-low magnetic fields and ensure uninterrupted superconductivity from on-chip circuits to external wiring.

According to D-Wave, the new initiative will expand its multichip packaging capabilities, add advanced manufacturing equipment, and refine processes to support the development of larger and more complex quantum processors.

A key element of the effort is D-Wave’s collaboration with NASA’s Jet Propulsion Laboratory (“JPL”), managed by Caltech. The company is incorporating JPL’s superconducting bump-bond process, which allows end-to-end superconducting interconnects between chips. This technology could be essential for both scaling D-Wave’s existing annealing architecture and advancing its fluxonium-based gate-model systems.

D-Wave sees superconducting bump bonds as a potential enabler for higher-density control and better interconnectivity across multichip quantum processor architectures. The ability to maintain superconductivity through these connections is vital for maintaining ultra-low temperature operation and high qubit coherence, both of which are essential for scaling toward error-corrected systems.

Beyond chip-to-chip connections, the initiative will target increases in circuit density for superconducting printed circuit boards (“PCBs”). These boards form the backbone of D-Wave’s quantum systems, and higher-density circuits can help pack more processing power into each system. 

Dr. Trevor Lanting, D-Wave’s chief development officer, noted that high-performance packaging is essential for scaling both annealing and gate-model systems. “We believe this strategic initiative will allow us to further extend our leadership position in quantum systems technology development and support our exciting and aggressive product roadmap on the path to 100,000 qubits,” he said.

About D-Wave Quantum Inc.

D-Wave is a leader in the development and delivery of quantum computing systems, software, and services. We are the world’s first commercial supplier of quantum computers, and the only company building both annealing and gate-model quantum computers. Our mission is to help customers realize the value of quantum, today. Our quantum computers — the world’s largest — feature QPUs with sub-second response times and can be deployed on-premises or accessed through our quantum cloud service, which offers 99.9% availability and uptime. More than 100 organizations trust D-Wave with their toughest computational challenges. With over 200 million problems submitted to our quantum systems to date, our customers apply our technology to address use cases spanning optimization, artificial intelligence, research and more. Learn more about realizing the value of quantum computing today and how we’re shaping the quantum-driven industrial and societal advancements of tomorrow: www.dwavequantum.com.

NOTE TO INVESTORS: The latest news and updates relating to QBTS are available in the company’s newsroom at https://ibn.fm/QBTS

Forward Looking Statements

Certain statements in this press release are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management’s control, including the risks set forth under the heading “Risk Factors” discussed under the caption “Item 1A. Risk Factors” in Part I of our most recent Annual Report on Form 10-K or any updates discussed under the caption “Item 1A. Risk Factors” in Part II of our Quarterly Reports on Form 10-Q and in our other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release in making an investment decision, which are based on information available to us on the date hereof. We undertake no duty to update this information unless required by law.

• Lantern Pharma completed enrollment in its LP-184 Phase 1a trial and is preparing Phase 1b/2 studies in cancers with large market potential.
• Early patient responses across LP-184, LP-284, and LP-300 trials highlight clinical activity in difficult-to-treat cancers.
• Intellectual property expanded with new European patent allowance for LP-284 and publication of blood-brain barrier prediction patent.
• Enhancements to RADR(R), the company’s AI platform, include public launch of predictBBB.ai(TM) and a new drug combination module.
• Lantern ended Q2 with $15.9 million in cash and expects its runway to extend into mid-2026.
• R&D expenses declined year-over-year, reflecting disciplined cost control while advancing multiple trials.

Lantern Pharma (NASDAQ: LTRN), a clinical-stage biotechnology company leveraging artificial intelligence and machine learning to redefine oncology drug development, reported second-quarter 2025 results while outlining clinical progress, intellectual property gains, and new developments in its RADR(R) artificial intelligence platform. The company continues to advance multiple oncology drug candidates aimed at high-value markets, supported by a balance sheet that management says provides funding into June 2026 (https://ibn.fm/xEtvR).

The company has finished enrolling 65 patients in its Phase 1a trial of LP-184, a synthetic acylfulvene drug candidate. The study established both the maximum tolerated dose and recommended Phase 2 dose, enabling planned Phase 1b/2 trials in recurrent triple negative breast cancer (“TNBC”) and recurrent bladder cancer.

LP-184 has already received Fast Track designations for glioblastoma and TNBC, along with several Rare Pediatric Disease designations. Preclinical work at Johns Hopkins supported the pediatric potential of LP-184 by showing extended survival in mouse models of atypical teratoid rhabdoid tumors. Lantern estimates that LP-184 could address a market worth between $10 and $12 billion annually if approved.

Lantern Pharma also noted that LP-284 produced a complete metabolic response in a 41-year-old patient with aggressive diffuse large B-cell lymphoma who had exhausted several prior treatment regimens including CAR-T therapy. These results support the company’s belief that LP-284 could play a role in treating refractory lymphomas, a market estimated at $4 billion annually.

During the quarter, Lantern reported individual patient responses that may bolster the clinical case for its pipeline. In the HARMONIC(TM) trial of LP-300 combined with chemotherapy, a 70-year-old non-smoker with advanced non-small cell lung cancer achieved a complete response after multiple prior therapies had failed. The trial has now completed enrollment in Japan, where never-smoker lung cancer has a relatively high prevalence. Further data from the HARMONIC(TM) trial are expected in September, particularly from the Asian expansion cohort in Japan and Taiwan.

Lantern strengthened its patent coverage during the quarter. The European Patent Office issued a notice of allowance for a composition of matter patent covering LP-284, adding to protection already secured in the U.S. and Japan. Additional applications are pending in several other regions.

Separately, the company announced the publication of an international patent application covering its machine learning solution for predicting blood-brain barrier permeability. The patent could extend protection for 20 years from filing if granted.

Lantern Pharma continues to build out its RADR(R) AI platform, which it positions as a tool for accelerating oncology drug discovery and development. Two notable modules were highlighted this quarter.

The first is predictBBB.ai(TM), launched publicly with accuracy metrics exceeding 90% in predicting whether small molecules can cross the blood-brain barrier. This has direct implications for central nervous system drug development, where very few compounds are successful.

The second is a drug combination prediction module that draws on peer-reviewed research and clinical trial data to forecast effective cancer therapy combinations. Initially, the focus will be on DNA damaging agents and DNA repair inhibitors, a segment where billions of dollars are invested annually.

Lantern has indicated that selected RADR(R) modules may be opened to the wider oncology research community, creating opportunities for collaboration and potential revenue diversification.

For the quarter ending June 30, Lantern reported cash, cash equivalents and marketable securities of $15.9 million. Management expects this to provide operating runway into at least mid-2026.

Research and development expenses fell to $3.1 million from $3.9 million a year earlier, while general and administrative expenses were $1.6 million. The company had 10.8 million shares outstanding at the end of the quarter, with no warrants issued.

CEO Panna Sharma said the combination of patient responses in clinical trials and enhancements to the AI platform marked an important stage in Lantern Pharma’s evolution. The company plans to continue advancing its trials while expanding RADR(R) into functional modules for broader use in oncology research.

“This quarter we observed complete responses in patients across two of our clinical trials, delivering meaningful patient benefit and providing further validation of both the mechanisms and therapeutic potential of our drug candidates,” said Sharma. “Simultaneously, our team is transforming our AI platform into functional, accessible modules for the broader oncology community. These parallel advances mark a pivotal inflection point in our clinical and technological evolution, reinforcing our fiscally disciplined, AI-driven approach to addressing critical unmet patient needs with a clear pathway to commercialization and value creation.”

For more information, visit the company’s website at www.LanternPharma.com.

NOTE TO INVESTORS: The latest news and updates relating to LTRN are available in the company’s newsroom at https://ibn.fm/LTRN

• Lottery.com rebrands as SEGG Media Corporation (NASDAQ: SEGG, LTRYW), signaling the closing of legacy challenges and the start of a growth-focused media, gaming, and sports strategy
• The company now operates through three synergistic verticals: Sports, Entertainment, and Lottery, aiming to redefine global fan experiences
• SEGG Media has stabilized operations, secured a $300 million equity facility, and is preparing for international expansion in motorsports, esports, and immersive media

The convergence of sports, entertainment, and technology is accelerating, and companies once limited by legacy models are racing to transform into platforms designed for modern fans. Fueled by shifting demographics, immersive content demand, and the rise of ethical, tech-enabled gaming, the space is ripe for disruption. That backdrop makes the recent rebrand of Lottery.com Inc. into SEGG Media (NASDAQ: SEGG, LTRYW) a timely and strategic evolution, not just in name but in mission and operational architecture.

From Lottery.com to SEGG Media: A Structural and Strategic Pivot

On July 8, 2025, SEGG Media made its debut under the ticker symbol SEGG, formally completing its transformation from Lottery.com into a diversified, forward-facing sports and entertainment company. The rebrand, while symbolic, is more than cosmetic; it represents a definitive close to previous operational and financial hurdles and opens the door to a bold new vision centered on immersive fan engagement and global media reach.

The new corporate identity – Sports Entertainment Gaming Global Media – is designed to encapsulate the company’s broadened focus and expanded footprint. With support from stakeholders and a newly structured organization, SEGG Media is positioning itself to compete on the world stage as a next-generation media conglomerate.

Three Vertical Pillars Powering a Unified Platform

Central to SEGG Media’s transformation is a three-pronged vertical strategy:

• Sports.com: Anchoring the company’s sports division, Sports.com is being developed into a global hub for all things sport. This includes sim racing, live immersive streaming, motorsports, football, esports, and athlete-led content initiatives. The vertical also houses Sports.com Studios and Sports.com Media, both focused on original content, documentaries, and storytelling formats designed to engage a younger, digital-native audience.
• Entertainment: Still in the process of expansion, these vertical leverages AI-driven event streaming, music, fashion, and fan interaction. Following the anticipated completion of the acquisition of DotCom Ventures, Inc., properties such as Concerts.com and TicketStub.com will fall under the entertainment umbrella.
• Lottery.com and Gaming: What began as the company’s sole business focus now forms a robust third pillar. The vertical includes Lottery.com’s global and domestic lottery operations, charitable gaming platform WinTogether, data provider Tinbu, and an expansion into iGaming, instant wins, and ethical sports betting.

Together, these pillars offer an integrated strategy that spans content, commerce, and gaming, all designed to foster fan engagement while delivering long-term value to shareholders.

A Turnaround Backed by Real Results

The rebrand is the latest step in a 24-month turnaround plan that has seen SEGG Media stabilize its balance sheet, restructure operations, and build an experienced leadership team. Among the most notable milestones:

• Appointment of experienced advisors and board members
• Expansion into asset-backed verticals
• A $300 million equity line of credit, which provides a foundation for non-dilutive growth and acquisition financing

According to Chairman Matthew McGahan, “SEGG Media isn’t just the end of a chapter; it’s the birth of a next-generation business.”

This evolution enables SEGG to compete with far larger legacy players, but with advantages in agility, technology, and a youth-oriented fan base.

What Comes Next: Growth, Globalization, and New Verticals

Looking ahead, SEGG Media has laid out an ambitious expansion roadmap. This includes:

• Launching Sports.com-branded physical venues and digital platforms globally
• Expanding presence in motorsports, esports, and sim racing markets
• Introducing new fashion and lifestyle verticals aimed at Gen Z and Millennial consumers
• Creating premium content and fan narratives through Sports.com Studios

These moves underscore the company’s focus on scalable brand assets and immersive experiences that go beyond traditional media and gaming.

Financial Strategy Centered on Sustainable Growth

SEGG Media’s financial playbook emphasizes revenue-generating acquisitions, responsible use of capital, and increasing shareholder value through strategic asset deployment. The $300 million equity line provides flexibility without immediate shareholder dilution, a rare feat for a company emerging from a restructuring phase.

With restructured debt, operational integrity, and a clear roadmap for diversified growth, SEGG Media enters this new phase with the tools to execute, expand, and differentiate.

Conclusion

SEGG Media Corporation’s launch marks more than the end of Lottery.com. It signals the emergence of a reimagined, financially backed, multi-vertical company built for a global audience. With a strategy rooted in innovation, ethical engagement, and digital storytelling, SEGG Media aims to redefine how fans experience the games, music, and moments they love. As the company moves forward with acquisitions, international growth, and next-gen content, it is positioning itself not just to survive in a rapidly changing media environment, but to lead it.

For more information, visit the company’s website at SEGGMediaCorp.com.

NOTE TO INVESTORS: The latest news and updates relating to SEGG are available in the company’s newsroom at https://ibn.fm/SEGG

The National Investment Banking Association (“NIBA”) will host its 151st Investment Conference on September 16–17 in Ft. Lauderdale, Florida, uniting emerging growth companies with top-tier investors, fund managers, and industry leaders. Known for driving more than $100 billion in capital raises and facilitating 90% of all IPOs under $20 million, NIBA is creating a high-impact platform where innovative businesses can gain visibility, secure funding, and forge lasting partnerships.

The National Investment Banking Association (“NIBA”), a not-for-profit association dedicated to the micro-cap and small-cap investment community, is proud to announce the 151st edition of its flagship investment conference. Taking place September 16–17 in Ft. Lauderdale, Florida, the event will bring together public and private companies seeking capital with leading investors and financial professionals. Attendees will gain direct access to decision-makers, discover new opportunities, and build meaningful industry connections.

Since 1982, NIBA has served as a driving force for the micro-cap and small-cap sector. Its network includes more than 8,800 registered representatives and thousands of investment professionals representing over 60 specialized industry services. Collectively, these firms have raised more than $100 billion and are responsible for 90% of all IPOs under $20 million.

Over the past four decades, NIBA members have completed thousands of transactions, generating more than $100 billion in new capital for emerging growth companies. The association’s track record of connecting capital to innovation continues to shape industries across the United States and abroad. The 151st conference will provide attendees with valuable insights into current market trends, direct engagement with industry leaders, and a platform to position their companies for growth.

Registration is now open. Family offices, investment banks, and fund managers can register at no cost, while industry service providers can secure their place for just $350.

To learn more, please visit https://ibn.fm/LFdrS

• Nightfood advances their $80 million hotel acquisitions to serve as live labs for its AI-robotics platform
• FHVH (RoboOp365) debuted AI-driven kitchen and culinary training systems at the California Restaurant Show, boosting visibility in the $400B U.S. foodservice sector
• Integrated model combines hotel ownership, robotics-as-a-service, and educational partnerships for scalable value across hospitality and consumer goods

As rising wages, labor shortages, and shifting guest expectations strain traditional hospitality operations, forward-thinking companies are moving aggressively to automate. AI-powered robotics and automation are rapidly becoming indispensable tools for efficiency, consistency, and cost control. In this evolving landscape, Nightfood Holdings (OTCQB: NGTF) is positioning itself not only as a deployer of automation technology but as an integrated owner‑operator shaping the industry’s future.

By owning hotel assets, deploying robotics systems directly, and entering educational partnerships, NGTF is creating a vertically aligned ecosystem built for the age of AI-powered hospitality.

Strategic Hotel Acquisitions: Creations of Automation Testbeds

Nightfood is on track to finalize acquisitions of two flagship hotel properties in Victorville and Rancho Mirage, California, totaling approximately $80 million in institutional-quality assets. These properties will serve as live deployment environments for its AI‑powered service robotics platform, anchoring its Robotics-as-a-Service (“RaaS”) model and reinforcing long-term infrastructure for revenue growth.

This dual model, owning the assets and operating the automation, enables Nightfood to demonstrate real-world hospitality efficiency gains while reducing reliance on legacy labor models.

RoboOp365 Debuts in Anaheim: The Next Phase for AI-Kitchens

Through its subsidiary Future Hospitality Ventures Holdings Inc. (“FHVH”), operating as RoboOp365, Nightfood showcased its AI-robotic culinary and service systems at the California Restaurant Show from August 3–5, 2025. On display are live demonstrations of its fully automated kitchens and a joint venture in formation with Los Angeles Cooking School under the banner Modern Culinary Systems Inc.

This venture aims to be the first U.S. culinary education platform grounded in AI-robotics, addressing a rapidly growing $32.5 billion foodservice training market.

AI + Automation Market Forces Align with Nightfood’s Model

The broader markets underpinning Nightfood’s strategy are expanding rapidly:

• Service robotics, including hospitality delivery, cleaning, and concierge robots, are projected to grow from $47 billion in 2023 to almost $108 billion by 2030. That translates to a steady CAGR around 12‑13%.
• Focused hospitality robots are growing even faster, with projections from $0.72 billion in 2024 to $5.56 billion by 2033 (CAGR 25.5%), and broader hospitality robotics estimates reaching $2.57 billion by 2034 at 17.5% CAGR.
• The AI for sales and marketing segment alone is forecast to expand from $58 billion in 2025 to $240 billion by 2030 (CAGR 32.9%), reflecting explosive demand for intelligent engagement across business verticals.

Vertical Integration as a Competitive Advantage

Nightfood is pursuing a multi-layered growth model:

1. Acquire assets: Hotels in California anchor real operations and recurring revenue opportunities.
2. Deploy technology: AI-robotics systems are embedded operationally, reducing labor friction and improving efficiency.
3. Monetize insights: Through service robotics subscriptions and data-driven operational optimizations.
4. Drive educational innovation: Modern Culinary Systems bridges training and deployment, creating a talent pipeline aligned with automation realities.

This vertical model allows Nightfood to validate robotic systems in proprietary assets, capture downstream economics from RaaS contracts, and supply culinary institutions and operators trained to work within its ecosystem.

Why It Matters Now

Hospitality labor costs have risen sharply (with some estimates up 22% since 2019), while hotels and restaurants increasingly prioritize guest experiences shaped by efficient service.

Against this backdrop, Nightfood’s properties-plus-robotics strategy directly addresses market pressure points: unsustainable labor models, inconsistent service quality, and the high cost of scaling traditional operations.

Moreover, the educational partnership with LA Cooking School offers a forward‑looking solution to the shortage of workers trained for AI‑augmented workflows, creating workforce readiness where most institutions lag.

Bottom Line: Automation from Assets to Classrooms

Nightfood Holdings is staking a unique claim in the hospitality automation space by combining hotel ownership, robotics deployment, and culinary education. As robotics markets explode and AI-driven operational models become standard, Nightfood’s vertically integrated strategy offers a differentiated play across property, platform, and people.

For more information, visit the company’s website at NightfoodHoldings.com

NOTE TO INVESTORS: The latest news and updates relating to NGTF are available in the company’s newsroom at https://ibn.fm/NGTF

• AI data centers are projected to consume more than 4 million tonnes of copper by 2035, intensifying a looming global shortfall
• Trilogy Metals owns a 50% stake in Alaska’s Upper Kobuk Mineral Projects (“UKMP”), among North America’s richest undeveloped copper districts
• The company is advancing the Arctic and Bornite deposits, which together could underpin decades of future production

AI and the Next Phase of Copper Demand

Copper’s importance has been well established in renewable energy, EVs, and grid modernization. Now artificial intelligence is emerging as a powerful new driver. Data centers powering AI workloads require immense amounts of copper for power distribution, thermal regulation, and efficient conductivity. Bloomberg analysts estimate the sector could need more than 400,000 tonnes of copper annually through the next decade, with cumulative usage topping 4 million tonnes by 2035.

This growing consumption comes at a time when copper supply growth is lagging. Many existing mines face declining grades, while new projects can take a decade or longer to reach production. Against this backdrop, high-grade resources in stable jurisdictions are drawing increased attention.

Trilogy Metals and the Ambler Mining District

Trilogy Metals (NYSE American: TMQ) (TSX: TMQ) sits at the center of this dynamic. Through Ambler Metals LLC, its 50/50 joint venture with South32, Trilogy controls the Upper Kobuk Mineral Projects in Alaska’s Ambler Mining District. The district hosts volcanogenic massive sulphide (“VMS”) and carbonate replacement deposits containing copper, zinc, lead, gold, silver, and cobalt.

The flagship Arctic deposit contains probable reserves of 46.7 million tonnes grading 2.11% copper, 2.9% zinc, 0.56% lead, 0.42 g/t gold, and 31.8 g/t silver. A 2023 feasibility study outlined robust economics, with a pre-tax NPV of $1.5 billion and an after-tax IRR of 22.8%. The Bornite project, with an inferred resource of 6.5 billion pounds of copper, could extend the district’s mine life beyond 30 years. A January 2025 preliminary economic assessment pegged Bornite’s pre-tax NPV at $552 million and after-tax IRR of 20.0%.

Partnerships and Infrastructure Support

Remote Arctic projects require more than mineral potential. Trilogy has structured strong partnerships to advance development:

• South32: The global mining major invested $145 million to form the Ambler Metals JV with Trilogy, providing capital and technical expertise
• NANA Regional Corporation: Representing 14,000 Iñupiat shareholders, NANA’s agreement with Trilogy reflects decades of mining partnership experience, including Teck’s Red Dog Mine
• State of Alaska: The proposed Ambler Access Road, a 211-mile corridor connecting the district to highways and ports, remains central to development. Recent executive orders have renewed federal and state momentum to advance this infrastructure

Financial Positioning

As of May 2025, Trilogy held $25 million in cash and no debt, along with a 50% share of cash in the joint venture. The company also maintains a $50 million base shelf prospectus and a $25 million at-the-market program, giving it flexibility to raise funds for project advancement while preserving balance sheet strength.

Critical Minerals and National Strategy

Beyond copper, the Ambler Mining District is also a source of cobalt, zinc, and germanium—materials identified by the U.S. Department of Energy as critical for national security and advanced technologies. This positions Trilogy’s assets as part of a broader supply chain strategy, particularly as the U.S. seeks to reduce reliance on foreign sources of key minerals.

Conclusion

AI-driven data centers, combined with renewable energy and electrification, are reshaping copper’s demand profile. With a 50% stake in one of North America’s most prospective copper districts, Trilogy Metals is well positioned to benefit. Its high-grade deposits, strong partnerships, and supportive policy environment provide a foundation to meet the challenges of a tightening copper market. As the global shortfall looms, projects like Arctic and Bornite could play a vital role in securing future supply.

For more information, visit www.TrilogyMetals.com.

NOTE TO INVESTORS: The latest news and updates relating to TMQ are available in the company’s newsroom at ibn.fm/TMQ

• Ecuador’s Constitutional Court unanimously upheld the environmental license for the El Domo mining project.
• The Court confirmed the consultation process met international standards and the project has strong community backing (98% support).
• The El Domo Project is expected to deliver significant socio-economic benefits to the Las Naves community.
• The ruling clears the path for continued project advancement

Silvercorp Metals (NYSE American/TSX: SVM), a Canadian mining company producing silver, gold, lead, and zinc, has seen the legal challenge over its El Domo mining project in Ecuador come to an end. The country’s Constitutional Court unanimously dismissed a final challenge to the project’s environmental license, concluding a year-long judicial process that progressed through multiple levels of the Ecuadorian court system (https://ibn.fm/K25Ad).

The ruling confirms the validity of the environmental license issued by the Ministry of Environment, Water, and Ecological Transition (“MAATE”) and affirms that the environmental consultation process complied with both Ecuadorian law and the standards of the Regional Agreement on Access to Information, Public Participation and Justice in Environmental Matters in Latin America and the Caribbean, known as the Escazú Agreement.

With 98% of residents within the project’s area of influence supporting the initiative, the project has broad community backing. The El Domo project, currently under construction, is anticipated to deliver long-term socio-economic benefits to Las Naves, as well as Ecuador as a whole, including job creation, a new source of tax revenue and local development opportunities.

The legal challenge began on June 5, 2024, when a group filed a constitutional protection action against MAATE, arguing that the environmental consultation process was inadequate. On July 24, 2024, the local court in Las Naves dismissed the action, ruling that MAATE had followed proper procedures. This decision was upheld by the provincial court on November 12, 2024.

The plaintiffs then turned to the Constitutional Court with an Extraordinary Protection Action in December 2024, which was rejected in February 2025 for failing to meet constitutional criteria. A subsequent motion for clarification was denied on July 24, 2025, closing the case.

As the first mining operation in Ecuador to undergo an environmental consultation aligned with Escazú Agreement standards, El Domo is also a precedent-setting case for the sector. Once in production, targeted for late 2026, the project is expected to materially enhance the company’s financial performance, while providing geographic and metals diversification, with increased exposure to copper and gold. 

The project’s development aligns with the company’s goal of creating sustainable shareholder value while fostering local economic development, supporting the company’s broader strategy of generating free cash flow from long-life mines, pursuing organic growth through exploration, and expanding via acquisitions.

For more information, visit the company’s website at www.silvercorpmetals.com/welcome.

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• NRx Pharmaceuticals has filed a Citizen Petition with the FDA to remove benzethonium chloride from ketamine products.
• The preservative has known toxicity and is no longer allowed in hand sanitizers or topical antiseptics.
• Ketamine is increasingly used off-label for treating suicidal depression and PTSD.
• The company argues repeated exposure to benzethonium chloride through IV use poses unnecessary health risks.
• NRx has submitted data showing its preservative-free ketamine maintains sterility and stability for three years.
• The company is pursuing FDA approval for both its preservative-free ketamine (“NRX-100”) and oral NMDA-targeting drug (“NRX-101”).

NRx Pharmaceuticals (NASDAQ: NRXP), a clinical-stage biopharmaceutical company, has submitted a formal Citizen Petition to the U.S. Food and Drug Administration (“FDA”), urging the agency to prohibit the use of benzethonium chloride in all ketamine products sold in the United States. According to the company, this chemical preservative presents known toxicity risks and is not Generally Recognized as Safe and Effective (“GRASE”) for pharmaceutical use in parenteral or topical formulations (https://ibn.fm/kYR0g). 

Benzethonium chloride (“BZT”) is part of a broader class of quaternary ammonium preservatives linked to cellular and neurological toxicity. While previously used in a variety of over-the-counter products, the FDA has already removed BZT from hand cleansers and topical antiseptics, citing safety concerns. The European Medicines Agency has also advised against its use in injectable medications.

According to Dr. Jonathan Javitt, CEO of NRx Pharmaceuticals, when it was first introduced in the 1970s, ketamine was developed as an anesthetic and was never intended to be administered repeatedly to patients. However, it is now widely used on a repeated basis as the only currently marketed drug that has shown benefit in treating suicidal depression and PTSD, although this is currently not a labeled indication, he added. The concern, according to NRx, is that long-term exposure to BZT may lead to cumulative health risks in these patients.

“Hence, patients who receive intravenous ketamine on a repeated basis are exposed to a known toxic preservative that cannot be used today in hand cleaner, antiseptics, and other topical products. The European Medicines Agency has warned against its use,” Javitt explained. “We believe that our Citizen Petition aligns with priorities articulated by current leadership of the U.S. Department of Health and Human Services to remove potentially toxic additives and preservatives from the U.S. Food and Drug supply and to re-shore the U.S. Drug Supply.”

The company is advancing an alternative: NRX-100, a preservative-free intravenous formulation of ketamine. In June 2025, NRx filed an Abbreviated New Drug Application (“ANDA”) for NRX-100, including data demonstrating its sterility and three-year shelf life at room temperature without the use of preservatives.

NRx also submitted a patent covering its preservative-free manufacturing process, which challenges prior assumptions that BZT or similar agents were required to maintain long-term sterility in ketamine products. As the company announced, it has already set up high-volume U.S.-based manufacturing capacity in anticipation of eventual FDA approval.

In parallel, NRx is seeking approval under the FDA Commissioner’s National Priority Voucher Program, which is designed to accelerate the review of drugs for urgent public health needs. The company aims to secure a labeled indication for the use of ketamine in suicidal depression.

The initiative follows NRx’s broader development pipeline, which includes NRX-101, an oral therapeutic targeting the NMDA (N-methyl-D-aspartate) receptor system for the treatment of bipolar depression with suicidality or akathisia. The FDA has already granted NRX-101 Breakthrough Therapy Designation, and the company plans to submit a New Drug Application (“NDA”) for accelerated approval.

If the FDA agrees to ban benzethonium chloride from ketamine products, it would open the door to new manufacturing standards across the industry and potentially favor companies like NRx that have already committed to preservative-free solutions.

For more information, visit the company’s website at www.NRxPharma.com.

NOTE TO INVESTORS: The latest news and updates relating to NRXP are available in the company’s newsroom at https://ibn.fm/NRXP

• $190 million all-stock acquisition of 1818 Park, a Class-A mixed-use property in downtown Hollywood, Florida, marks strategic diversification into income-producing real estate
• GCF Development principals become long-term equity partners in FAVO through the transaction, bringing seasoned real estate expertise to the platform
• Stabilized asset with high occupancy and long-term leases strengthens balance sheet and expands collateral base for enhanced private credit operations

The convergence of private credit and real estate investment has become a defining strategy for alternative finance companies seeking capital efficiency and risk management. Traditional lending models often rely on unsecured positions or narrow collateral pools, creating constraints on funding capacity and competitive positioning.

FAVO Capital (OTC: FAVO) is adopting a dual-purpose approach: combining diversified, cash-flowing real estate with its established private credit platform. This strategy strengthens the balance sheet, expands lending capacity, and creates sustainable advantages not typically available to pure-play lenders.

Strategic Asset Acquisition Strengthens Capital Structure

The acquisition of 1818 Park, a Class-A mixed-use property, brings stabilized cash flows from high-occupancy residential, office, and retail components secured under long-term leases.

By structuring the deal as an all-stock transaction, FAVO added income-generating assets without reducing cash reserves earmarked for lending operations. CFO Vaughan Korte noted:
“Adding a stabilized, income-producing asset of this caliber directly supports the growth of our private credit operations by enhancing the quality of the collateral we can leverage in financing negotiations.”

Partnership with GCF Development Adds Operational Expertise

The transaction also brings GCF Development principals in as long-term equity partners, aligning incentives and ensuring seasoned oversight at the property level. This partnership provides continuity in management while supporting FAVO’s diversification strategy.

GCF Development CEO Chip Abele commented:
“We believe in the long-term value of combining real estate and private credit under one integrated platform.”

Enhanced Balance Sheet Expands Lending Capacity

A key benefit of the acquisition is FAVO’s ability to access larger and more competitively priced financing lines, which increases lending capacity to small and medium-sized businesses (“SMBs”).

President Shaun Quin emphasized:
“With a stronger asset position, we can secure larger, more competitive financing lines, expand our lending capacity, and deliver greater value to the SMBs and shareholders we serve.”

Integrated Platform Creates Competitive Advantages

Chief Strategy Officer Glen Steward placed the transaction in the context of FAVO’s broader vision:
“By combining the predictable cash flows of high-quality real estate with the dynamic growth of our private credit business, we are creating a balanced portfolio designed to perform across market cycles.”

1818 Park’s location in downtown Hollywood’s Young Circle further positions FAVO within one of South Florida’s most active commercial hubs, supported by strong transportation access, walkability, and sustained tenant demand.

This acquisition represents a significant step in FAVO’s strategy to build a diversified platform that delivers consistent value across economic cycles.

For more information, visit the company’s website at www.FAVOCapital.com.

NOTE TO INVESTORS: The latest news and updates relating to FAVO Capital are available in the company’s newsroom at https://ibn.fm/FAVO