• The recent launch of electronic monitoring (“EM”) of court-supervised offenders in Manitoba’s capital, and the program’s recent push for expansion to more rural areas of the Canadian province, exemplifies the global growth of EM as a needed resource for law enforcement
• EM offender tracking represents a more efficient and cost-reducing means of providing security to citizens while also limiting increasingly expensive incarceration to qualifying criminal offenders
• Israel-based SuperCom has developed a flagship technology and companion monitoring service that provides a competitive advantage over legacy EM devices
• The company’s PureSecurity technology is driving significant advancements, and company officials have reported a number of key contract wins this year as it expands its footprint in Europe and North America

Technology developer SuperCom (NASDAQ: SPCB) is elevating the use of electronic monitoring (“EM”) of court-supervised individuals through GPS and RFID-enabled devices that are improvements over legacy services used for judicial system interests that include domestic violence offender tracking and house arrest monitoring.

SuperCom’s PureSecurity platform is a step up from the unpopular ankle monitors ubiquitous to the industry, using a sleek design that is wearable without being obvious to other people nearby, making it easier for monitored individuals to work and interact with others without the social stigma of a bulky device.

The PureSecurity products also feature a battery life of up to one year before needing to be recharged — an improvement over the monitors that continually have to be charged at an electrical outlet.

Worldwide, the use of EM devices has been expanding as a means of reducing the costs of incarceration and offering low-risk offenders a less punitive penalty that encourages positive social interactions.

The Canadian province of Manitoba, stretching from its border with the United States to its subarctic limits in the north, is an example of the growing use of EM, even in areas that are not heavily populated regions. The provincial government launched EM use in the metropolitan capital area of Winnipeg in August, where about two-thirds of Manitoba’s population resides. Following the evaluation of the initial successes, the government announced last month that it is expanding EM use to more rural areas, identifying towns in seven regions of the province.

“Enhancing the security of communities throughout the province is a priority for the Manitoba RCMP (Royal Canadian Mounted Police) and we appreciate all new technologies that help to support and achieve that goal,” Manitoba RCMP Chief Supt. Gord Corbett stated (https://ibn.fm/XkUja). “The electronic monitoring of those who are on release conditions is one more important tool that supports our mandate and helps keep Manitobans safe.”

The Manitoba government has allocated $2.9 million over two years for the program, according to the report, with an option for continuing the program in the future.

SuperCom has strengthened its footprint in the United States and Europe in recent months, securing new key contracts with officials in New York, West Virginia, Maryland, as well as in Israel and Romania, along with its ongoing business services.

The company also secured a new project in Canada that helps a long-standing partner transition from providing RF-based tracking technology to embracing new GPS technologies (https://ibn.fm/v6ojO).

“We are pleased to announce another quarter of significant achievements, showcasing the continued strength and resilience of our business. … Year-to-date, revenue increased to $21.3 million, gross profit surged by 35% to $10.7 million, and our gross profit margin improved dramatically to 50.1% from 37.7% in the prior year period,” SuperCom President and CEO Ordan Trabelsi stated in the company’s report on Q3 finances (https://ibn.fm/hcxPW). “Looking ahead, we remain focused on executing our strategy by delivering cutting-edge solutions, deepening relationships with existing clients, and entering new markets.”

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

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

• Copper is projected to be a sought-after commodity, driven by diverse applications in clean energy, electric vehicles (“EVs”) and sustainable infrastructure.
• Amid growing demand, exploration companies such as Aston Bay are intensifying their efforts to discover new copper reserves.
• Exploration efforts continue to deliver discoveries at Storm Project.

Copper, often referred to as the “metal of electrification,” plays an indispensable role in the transition to a more sustainable and energy-efficient future. As the world intensifies its commitment to reducing carbon emissions and embracing renewable energy, the demand for copper is set to soar. The recent discovery of new copper targets by Aston Bay (TSX.V: BAY) (OTCQB: ATBDF), a publicly traded mineral exploration company, and its partner American West Metals highlights ongoing exploration efforts to secure this vital resource. These discoveries further underscore copper’s importance in a rapidly evolving global economy.

Copper is projected to be a sought-after commodity, driven by its diverse applications in clean energy, electric vehicles (“EVs”) and sustainable infrastructure. Industry forecasts predict that copper demand could rise by 50% or more by 2040 (https://ibn.fm/5er8l), underscoring the urgency of finding new sources to bridge the potential supply gap.

Copper is a cornerstone material in many industries due to its excellent conductivity, durability and recyclability. This metal’s versatility ensures its relevance in both traditional sectors and emerging technologies, particularly those tied to sustainability. Key factors contributing to the rising copper demand include:

• Electrification of energy systems, including the push for renewable energy technologies such as solar panels, wind turbines and energy-storage systems
• Electric vehicles, which are copper intensive, requiring about 2.5 times more copper than internal combustion engine vehicles
• Sustainable infrastructure, which include modernizing grids to accommodate renewable energy and building green cities
• Emerging markets, which are increasingly integrating copper-intensive technologies into their infrastructure as they strive to meet global sustainability standards

Amid growing demand, exploration companies are intensifying their efforts to discover new copper reserves. One such endeavor is the Storm Project in Nunavut, Canada, a joint initiative by Aston Bay and American West Metals. The most recent report (https://ibn.fm/97Yev) released by the two companies sheds light on exciting new developments at this site. Notable findings of the report include: 

• High-grade discoveries: Recent drilling programs have identified high-grade copper zones, confirming the project’s potential.
• New copper targets: Drilling, soil geochemistry and electromagnetics continue to highlight large-scale regional exploration potential.
• Strategic location: Located in a mining-friendly region of Nunavut, the Storm Project benefits from supportive local policies and a wealth of geological expertise.

“Greenfields regional exploration continues to deliver discoveries at Storm,” said Thomas Ullrich, Aston Bay CEO. “In addition to the successful delineation drilling program this year, the geological team has discovered two new zones with copper, zinc and silver mineralization, reinforcing the belt-wide prospectivity of this 110-kilometer-long trend. The successful prospecting, geophysics, geochemistry and drilling programs all point to the untapped potential for more copper at Storm, and we look forward to testing these new discoveries while advancing the known deposits toward development. Work is advancing well on the maiden resource for Storm as well as the development study work, with news expected over the coming months.”

The partnership between Aston Bay and American West Metals combines technical expertise and resources to advance the known deposits toward development. As exploration continues, the companies aim to confirm the commercial viability of these deposits. Aston Bay and American West are working together on the Storm Project property, having formed a 20/80 unincorporated joint venture. According to the agreement, Aston Bay maintains a free carried interest until the decision to mine upon completion of a bankable feasibility study.

These are among the benefits that Aston Bay is eyeing as it focuses on exploring for high-grade critical and precious metal deposits in both Canada and the United States. The company is aggressively advancing the high-grade Storm Copper Project in Nunavut, Canada, toward development with partner American West Metals. The company is free carried for all expenditures at the project until decision to mine. Aston Bay is looking to replicate the success of Storm with its Epworth Copper Project, also located in Nunavut, where surface samples have yielded up to 61% copper with 5600 g/t silver as well as cobalt, zinc, and gold. The company is also exploring the high-grade (up to 62.51 g/t Au) Buckingham Gold Vein and critical metals prospects in central Virginia.

For more information, visit AstonBayHoldings.com.

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

• Emerging therapies, advanced diagnostic tools and groundbreaking research are reshaping the fight against cancer.
• Calidi Biotherapeutics uses stem cells and cell-enveloping technologies to deliver virotherapy payloads that attack cancers and leave healthy cells untouched.
• RTNova is designed to address the limitations of traditional virotherapy by offering enhanced targeting, systemic delivery and immune system modulation.

Cancer continues to be a leading cause of morbidity and mortality worldwide, affecting millions of lives every year. While advances in prevention, early detection and treatment have made strides in reducing the global cancer burden, innovation remains critical to achieving further breakthroughs. Emerging therapies, advanced diagnostic tools and groundbreaking research are reshaping the fight against cancer, offering new hope for patients and their families.

A compelling example of this progress is the work of Calidi Biotherapeutics (NYSE American: CLDI), whose recent data on its RTNova(TM) systemic enveloped virotherapy technology demonstrates the potential of cutting-edge solutions to revolutionize cancer care (https://ibn.fm/X06dh).

Cancer is not a single disease but a group of related diseases characterized by abnormal cell growth. This complexity requires diverse and innovative approaches to treatment. Traditional methods such as surgery, chemotherapy and radiation therapy have significantly improved survival rates, but they are not without limitations, including toxicity and resistance. Innovation is vital to overcoming these challenges.

New approaches to cancer treatment leverage technology, biology and chemistry to create therapies that are more effective, less invasive and increasingly personalized. Some key examples include:

• Immunotherapy: Treatments such as checkpoint inhibitors and CAR T-cell therapy harness the body’s immune system to recognize and attack cancer cells.
• Targeted therapy: Drugs designed to target specific mutations in cancer cells have reduced side effects while improving efficacy.
• Oncolytic virotherapy: In this promising area of innovation, viruses are engineered to infect and destroy cancer cells while sparing healthy tissues.
• Precision medicine: Advances in genomic sequencing allow treatments to be tailored to an individual’s genetic profile, optimizing outcomes and minimizing adverse effects.

Calidi Biotherapeutics is at the forefront of cancer treatment innovation, focusing on novel approaches to oncolytic virotherapy using stem cells and cell-enveloping technologies to deliver targeted and effective virotherapy payloads that attack cancers and leave healthy cells untouched. Calidi’s treatments effectively target a primary tumor and then arm the immune system to kill cancer metastases.

At two major conferences—the International Oncolytic Virotherapy Conference (“IOVC”) and the Society for Immunotherapy of Cancer (“SITC”) Annual Meeting—Calidi presented groundbreaking data supporting the capabilities of its proprietary RTNova systemic enveloped virotherapy platform. RTNova is designed to address the limitations of traditional virotherapy by offering enhanced targeting, systemic delivery and immune system modulation. Calidi’s data demonstrated that RTNova can achieve robust tumor-specific replication and destruction, making it a promising candidate for treating a wide range of cancers. Furthermore, this platform can be used as a standalone therapy or in combination with existing treatments like immunotherapy and checkpoint inhibitors to enhance outcomes.

The battle against cancer is far from over, but the momentum of innovation provides a reason for optimism. Companies such as Calidi Biotherapeutics are paving the way for therapies that push the boundaries of what is possible in medicine. In the coming years, advancements such as RTNova and other cutting-edge therapies will undoubtedly continue to shape the cancer treatment landscape.

Calidi Biotherapeutics is a clinical-stage, immuno-oncology company with proprietary technology designed to arm the immune system to fight cancer. Calidi’s novel stem-cell-based platforms are utilizing potent allogeneic stem cells capable of carrying payloads of oncolytic viruses for use in multiple oncology indications, including high-grade gliomas and solid tumors. Calidi’s clinical-stage, off-the-shelf, universal cell-based delivery platforms are designed to protect, amplify and potentiate oncolytic viruses leading to enhanced efficacy and improved patient safety. Calidi’s preclinical off-the-shelf enveloped virotherapies are designed to target disseminated solid tumors. This dual approach can potentially treat, or even prevent, metastatic disease.

For more information, visit www.CalidiBio.com.

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

Sam Altman, the CEO of OpenAI, has voiced his confidence in President-elect Donald Trump supporting the AI sector and ensuring that America, together with its allies, retain pole position in this nascent industry. Altman was speaking during a recent interview with Fox News.

During the interview, Sam Altman highlighted the fact that support in the form of massive infrastructure needed to be directed to the artificial intelligence industry. Altman added that he was certain that the incoming administration would provide this needed support. He reiterated that the massive infrastructure was necessary to enable the U.S. to stamp its leadership on AI technology and AI capabilities.

Sam Altman’s comments came in response to a question on the ongoing competition between America and China in the AI space. The OpenAI CEO emphasized that the U.S. and the countries allied to it have to lead the industry.

The massive infrastructure required includes vast amounts of electricity, technological support, in addition to huge data centers. The technological support refers to computer chips as well as advanced semiconductors. Companies like Nvidia have seen their valuations skyrocket on account of being industry leaders in providing the advanced chips needed by AI companies.

During the interview, Sam Altman also expressed a desire to see Congress approving legislation aimed at instituting safeguards regulating how artificial intelligence could be used.

He explained that he wasn’t sure when and what form of legislation was required, but said he was sure regulation would happen. He added that it wouldn’t be right to let firms like OpenAI make the big decisions concerning the ways in which AI could be leveraged. Rather, the broader society, through the lawmakers, needed to have their say on this important matter.

OpenAI, the company that Sam Altman heads, has risen in prominence as the years have gone by. This is because the firm has played a key role in the AI space from the time its flagship innovation ChatGPT was released onto the market. ChatGPT opened the floodgates to generative AI and other use-cases for artificial intelligence.

It should be noted that Elon Musk, another billionaire, was a cofounder of OpenAI. He left the company and recently went to court to stop OpenAI from pivoting to a profit-making enterprise as it had been founded as a nonprofit. The case is still ongoing.

OpenAI’s legal issues with Elon Musk aside, the race to establish AI infrastructure is on. Tech giants like Microsoft, Meta Platforms, Alphabet Inc., Amazon and so many others are frantically building out data centers and other attendant systems in order to stamp their mark on the AI field. This race to set up AI infrastructure and applications has created market opportunities for companies like McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) that extract the minerals critical to the AI industry.

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

• Bank of America notes that gold remains “the ultimate perceived safe-haven asset.”
• While demand for gold grows, the industry faces challenges in maintaining adequate supply.
• New initiatives at Parbec intended to increase deposit knowledge base and move production forward.

According to a Bank of America analyst, gold could reach $3,000 per ounce next year (https://ibn.fm/NRDTZ), a forecast welcomed by those in the gold space, including Renforth Resources (CSE: RFR) (OTCQB: RFHRF), an active mineral exploration company.

“Bank of America released a bullish note on gold [in October], just as the precious metal reached new record highs at $2,696 per ounce,” a Benzinga article reported. “Gold remains ‘the ultimate perceived safe-haven asset’ in today’s macroeconomic environment, according to Bank of America’s commodity analyst Michael Widmer, amid rising concerns over U.S. fiscal policies and their potential impact on Treasury yields.”

As global economic trends and geopolitical uncertainties converge, gold remains a key asset for both investors and industries. With central banks bolstering their reserves, growing interest from the renewable energy sector, and steady investment demand, the precious metal is poised for a dynamic year. Additionally, exploration companies such as Renforth Resources are playing a critical role in expanding the gold supply through projects such as Renforth’s Parbec Gold Deposit.

Gold’s enduring appeal stems from its multifaceted utility. As both a store of value and a vital industrial material, the metal has consistently held a central role in global markets. Looking ahead to 2025, several key drivers are expected to shape the demand landscape, including:

• Economic uncertainty and inflation hedging: Gold’s status as a safe-haven asset ensures its appeal during periods of economic uncertainty. With inflation concerns persisting in major economies, central banks and investors continue to prioritize gold as a hedge against currency devaluation. Historically, gold prices rise during times of market instability, and 2025 is expected to follow this trend as global recovery efforts from the pandemic and geopolitical tensions evolve.
• Technology and green-energy applications: The renewable energy transition is introducing new demand for gold in technological applications, particularly in the production of solar panels and advanced electronics. Gold’s high conductivity and resistance to corrosion make it indispensable in these industries. As green technology adoption accelerates, this emerging demand could complement traditional market drivers, further bolstering gold’s long-term value.
• Central bank activity: Around the world, central banks are expected to continue accumulating gold in 2025 to diversify their reserves and reduce reliance on the U.S. dollar. Recent data suggests a robust appetite for gold purchases, driven by geopolitical shifts and a desire to stabilize national economies against currency fluctuations.

While demand for gold grows, the industry faces challenges in maintaining adequate supply. Many of the world’s most accessible gold deposits are already being mined, making exploration efforts critical to ensuring future availability. Companies such as Renforth Resources are stepping up to meet this need through innovative projects, including Renforth’s Parbec Gold Deposit. Renforth Resources recently released an update on this flagship project (https://ibn.fm/OTm3X). Located in Quebec, the Parbec deposit is part of the prolific Cadillac Break, one of the world’s most productive gold regions.

According to the company’s latest shareholder report, Renforth has commenced a resource update for Parbec, aiming to refine and expand its gold resource estimates. The deposit, characterized by near-surface mineralization, offers significant potential for cost-efficient open-pit mining. Preliminary exploration results suggest the possibility of higher grades and larger reserves than previously estimated, positioning Parbec as a valuable asset in Renforth’s portfolio.

Renforth’s strategic approach to exploration includes advanced drilling programs, resource modeling, and leveraging its expertise to optimize Parbec’s development. This not only supports the company’s growth but also contributes to addressing global gold-supply challenges.

“Each of our new initiatives at Parbec is intended to increase our deposit knowledgebase towards a future production decision,” said Renforth president and CEO Nicole Brewster. “Our existing, outdated 43-101 resource encompasses only a portion of the property and uses only part of our own drilling, and none from the 1980s or 1990s. Our geological model after the resource demonstrates a new understanding of gold at Parbec occurring in the Pontiac, like what our neighbor has also subsequently proven with the development of their Odyssey deposit in the Pontiac sediments. Underground access for sampling and mapping and the testing TOMRA technology to reduce waste and focus on our higher-grade gold at Parbec. If successful, these steps add value and move us along on Parbec’s production path.”

The outlook for gold in 2025 is replete with optimism and opportunity. With strong drivers across investment, technology and central bank activity, the metal is well positioned for growth. Meanwhile, exploration companies such as Renforth Resources are paving the way for expanded supply, ensuring that gold remains a vital resource in years to come. For investors, 2025 could mark a pivotal year to deepen engagement with the gold market, leveraging its stability and growth potential in an ever-changing economic landscape.

Renforth Resources is an active mineral-exploration company engaged in the exploration and development of the company’s wholly owned multicommodity mineral properties in Canada. In addition to the Parbec project, the company holds the Nixon Bartleman gold property in Ontario.

For more information, visit www.RenforthResources.com.

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

Italian football, long known for its tradition and passionate fan base, is entering a new era of growth and modernization fueled by American investments. From transformative strategies in Serie A to unlocking value in Serie B, US investors are leading the charge to professionalize the sport, enhance global competitiveness, and generate substantial returns for stakeholders.

Brera Holdings Intends to Expand Multi-Club Platform with Serie B Acquisition

In September 2024, Brera Holdings (NASDAQ: BREA), the professional sports world’s first publicly traded Multi-Club Ownership (MCO) group, announced the execution of a Letter of Intent to acquire a majority stake in a Serie B club. The acquisition is intended to align with Brera’s strategy of identifying undervalued clubs in high-potential markets and driving value creation through innovation.

“This acquisition is a crucial step in expanding our international sports platform,” said Pierre Galoppi, CEO of Brera Holdings. “We see tremendous opportunity in Italy and Serie B, not only for its historic significance but for its ability to generate value through commercial and digital transformation, a dynamic player trading ecosystem, and real estate development.”

Unlocking Value Through Strategic Innovation

Brera Holdings’ approach to club ownership emphasizes creating a vertically integrated football ecosystem by:

• Media Transformation: As the football media landscape evolves, clubs are embracing streaming, social media, and data-driven strategies to engage with global audiences, enhancing monetization and boosting sponsorship opportunities
• Commercial Growth: Italy’s status as the fourth most visited country, with 57.2 million tourists annually, provides Italian clubs with a unique platform to engage international audiences, attracting global brands and expanding commercial reach both on and off the pitch
• Player Trading: Brera’s multi-club platform fosters talent development and efficient player movement across its network, optimizing returns on investment while maintaining competitive teams
• Real Estate Development: Many Italian clubs possess underutilized real estate assets, including stadiums and training facilities. Upgrading these properties not only creates new revenue streams but also enhances fan engagement and unlocks additional sponsorship and non-matchday revenue opportunities

“We are committed to driving value creation not only for our shareholders but for the communities and fans who are the heartbeat of these clubs,” Galoppi added.

The Rising Tide of American Investment in Italian Football

Brera Holdings’ acquisition plans highlight the growing influence of American capital in Italian football. In recent years, US and North American investors have expanded their reach throughout the Italian football pyramid, with ownership now spanning Serie A, B, and C. As of November 2024, there are 14 Italian clubs under the control of American stakeholders, including high-profile teams like AS Roma, AC Milan, Atalanta, Fiorentina, and Inter Milan.

This influx of investment is driving the modernization of club operations, infrastructure improvements, and increased international visibility, all of which contribute to Italian football’s growing prominence on the global stage and its increasing role in the sport’s economic landscape.

Serie B: A Fertile Ground for Growth

Serie B offers unique opportunities for investors due to its affordability, scalability, and untapped potential:

• Cost-Effective Entry: Acquiring a Serie B club provides a lower-cost gateway to Italian football, offering significant room for value appreciation, particularly with potential promotion to the top-flight
• Talent Pipeline: Serie B clubs serve as incubators for developing young players, creating lucrative pathways through player sales or integration into broader MCO networks.
• Commercial Opportunities: Strategic marketing and revenue diversification can transform these clubs into sustainable and profitable ventures

“Serie B is an underappreciated gem in European football,” said Galoppi. “By combining American business acumen with Italian passion, we’re unlocking opportunities that benefit all stakeholders.”

The wave of American investments in Italian football represents more than financial gain—it is a combination of cultural legacy with professional business strategies. Clubs are retaining their identity while adopting practices that ensure sustainability and competitiveness in an increasingly globalized sports economy.

“As we continue to invest in Italian football, our vision is to honor its traditions while driving innovation and global growth,” Galoppi said.

A New Era for Italian Football

The marriage between American investors and Italian football is ushering in a new era of professionalization and value creation. With historic clubs, passionate fan bases, and strategic international investments, Italian football is poised for unprecedented growth on and off the pitch. Additionally, Italian football has seen a noticeable increase in the number of American players making an impact on the pitch, such as Christian Pulisic, Yunus Musah, Weston McKinnie, and Timothy Weah. This growing trend reflects the increasing appeal of Italian football to US talent, as the league offers a competitive environment for player development and exposure. As these players gain more visibility and experience, they are contributing to the internationalization of the league and adding to its growing global appeal.

For additional information, visit the company’s website at www.BreraHoldings.com

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

Within the past several years, commodity prices reached a 50-year low relative to equity valuations (https://ibn.fm/QrRMU). Historically, such lows in the commodity-to-equity ratio have marked the onset of new commodity supercycles—prolonged periods of sustained growth in raw material prices—and we’ve clearly seen the markets shifting with gold hitting all-time highs throughout much of this year. As global economic conditions evolve, commodities have been re-emerging as an important consideration when reconstructing investment portfolios.

The last major commodity supercycle (1996–2011) was fueled by the industrialization of emerging economies like China, India and Brazil. Today, a combination of inflationary pressures, supply chain disruptions, and the global shift toward renewable energy is creating the conditions for what appears to be the next major cycle. This backdrop presents a compelling case for commodities as a hedge against inflation and a source of value in an otherwise uncertain economic environment.

What Drives a Commodity Supercycle?

Commodity supercycles share three defining characteristics:

1. Surging Demand: Structural shifts, such as urbanization or technological revolutions, create prolonged demand for raw materials.
2. Supply Constraints: Delays in bringing new projects online due to high capital costs and regulatory hurdles lead to prolonged supply shortages.
3. Rising Prices: A mismatch between supply and demand drives prices significantly above long-term averages.

Today’s potential supercycle is being shaped by the global energy transition and advancements in technology. Metals like copper and silver are essential for renewable energy, electric vehicles, AI data centers, and energy storage systems. Demand for these critical materials is soaring, even as the mining sector grapples with underinvestment and geopolitical challenges that have constrained supply.

Commodities and Equity Markets: A Historic Divergence

The relationship between commodities and equity markets has historically been countercyclical. For example, in the 1970s, soaring oil prices coincided with a sharp decline in stock valuations. Conversely, the bull market of the 2000s saw equity strength dampen commodity momentum, until the 2008 financial crisis reset the balance.

In the current environment, this divergence is once again becoming apparent. Rising commodity prices—particularly in metals critical to green energy—are creating opportunities for investors in mining stocks, even as broader equity markets face potential headwinds from inflation and geopolitical risks.

McEwen Mining: Well-Positioned for the Next Commodity Cycle

With metal prices climbing and demand for resources surging, companies with diversified portfolios and strong fundamentals are emerging as key players in this evolving landscape.

McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) stands out as a compelling example of a company poised to navigate and benefit from the challenges and opportunities of the current market. By leveraging its rich asset base and focus on growth, the company provides insight into how mining firms are preparing to capitalize on this pivotal moment.

McEwen Mining: Positioned for Growth in Precious Metals and Copper Markets

The company’s management team has carved a distinctive path in the mining industry as a gold and silver producer with operations spanning multiple jurisdictions. Beyond its robust portfolio of precious metal assets, the company holds a 46.4% stake in McEwen Copper, the developer of the Los Azules project in Argentina—a large, advanced-stage copper deposit poised to benefit from the global push toward electrification and green technologies.

Under the leadership of Rob McEwen, the company’s Chairman and Founder, McEwen Mining is firmly aligned with shareholder interests. McEwen has personally invested $225 million into the company and takes an annual salary of just $1, underscoring his commitment to driving sustainable growth and maximizing shareholder returns.

Financial Momentum in Q3 2024

The company’s Q3 2024 results highlight a period of transformation (https://ibn.fm/lzJl7). Revenues rose by 36% year-over-year to $52.3 million, driven by higher gold prices and increased production. The average realized gold price surged to $2,499 per ounce, significantly above the prior year’s $1,920 per ounce. This performance translated to a remarkable 268% increase in gross profit, which reached $13.8 million.

Operational Progression

Recent exploration at the Grey Fox deposit, part of the Fox Complex in Canada, has yielded promising results, including high-grade drill intercepts (https://ibn.fm/zTM7s). Geological investigations demonstrate similarities between the Grey Fox Deposit and the Hishikari Gold Mine, which is one of the richest gold mines in the world.

In a press release announcing the results, Rob stated, “Firstly, our team is focused on drilling to add gold ounces into our production pipeline. Secondly, we are impressed by the depth potential. There are two styles of gold mineralization, epithermal veining and orogenic lenses, both gold-rich at the top of the systems. Based on our past and recent drilling, it appears that the Fox Complex has the opportunity to expand its production profile, and the depth potential is still wide open.”

Strategic Developments Fueling Growth

A significant highlight is the progress at the Los Azules copper project. A recent $56 million private placement, including contributions from Rio Tinto’s Nuton (https://ibn.fm/Zyi0I), positions the project for its next development phase. In fact, McEwen Copper just announced the approval of the Environmental Impact Assessment (“EIA”) and is now advancing towards publishing a definitive feasibility study, expected in the first half of 2025, with the potential start of construction as early as 2026 (https://ibn.fm/TQ7oi).

It’s also worth noting the company’s recent acquisition of Timberline Resources as it adds three promising Nevada properties, including the Eureka property with a measured and indicated oxide gold resource of 423,000 ounces (https://ibn.fm/fpWSh). We remain attentive to the company’s progress in Nevada and look forward to monitoring its developments as they unfold.

The Road Ahead

As McEwen Mining continues to advance its strategic initiatives, the company is well-positioned to capitalize on the emerging trends driving the next commodity supercycle. With a diversified asset base that spans both precious metals and critical copper resources, McEwen Mining is positioned to benefit from the growing demand for metals that are essential for the global transition to renewable energy. The company’s operational resilience and ongoing exploration efforts lay the groundwork for sustained growth.

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

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

• The company’s share price recently reached a 52-week high, a significant milestone that reflects a period of robust trading and investor optimism.
• D-Wave continues efforts to expand its board of directors with experienced tech executives to assist the company’s aggressive go-to-market strategy and accelerate adoption of its annealing quantum computing technology.
• The latest board addition, Sharon Holt, is a veteran technology executive, investor and board director with extensive global industry experience.

D-Wave Quantum (NYSE: QBTS) (“D-Wave”), a leader in quantum computing systems, software and services, and the first commercial provider of quantum computers, has seen a remarkable share price surge in recent weeks, reporting a 52-week high. The price increase is a significant milestone for the company, reflecting a period of robust trading and investor optimism (https://ibn.fm/QBIw4).

To support its aggressive go-to-market efforts amid accelerating adoption of its annealing quantum computing solutions, D-Wave has added several key members to its board of directors in recent weeks, including John DiLullo and Rohit Ghai in October 2024. The latest addition, announced on Nov. 25, is Sharon Holt, a veteran technology executive, investor and board director with extensive global industry experience in semiconductors, embedded technologies and intellectual property (https://ibn.fm/ysqzY).

“We’re witnessing the onset of a new era of computation, as quantum shifts from an experimental technology to an essential solution for any organization looking to solve its toughest problems,” said Holt. “As the world’s first commercial quantum computing company, D-Wave is at the forefront of this quantum transformation, and I’m looking forward to supporting the company as it helps customers harness the power of quantum for measurable impact today.”

Throughout her career, Holt has had executive roles spanning business unit leadership, P&L ownership, business development, sales, marketing and engineering. Holt held executive roles at Agilent Technologies and HP and until 2016, she served as senior vice president and general manager of the semiconductor business group at Rambus Inc., a leading technology development and licensing company. Since 2016, she has served as a principal at Fraser Stuart Ventures, LLC, a private investment and advisory firm.

Holt also serves on the board of directors of Infinera Corp., a publicly traded supplier of intelligent transport network solutions, and previously served as chair of the board of directors of Immersion Corporation, a publicly traded developer of haptics technology for cell phones and other devices.

D-Wave board chair Steve West said the board was very excited to welcome Holt as a new member to assist the company’s efforts to fuel the global adoption of annealing quantum computing. “Her proven business leadership coupled with a background in successful go-to-market strategies are well-suited for maximizing impact of the company’s growth initiatives,” West said.

D-Wave CEO Dr. Alan Baratz said Holt’s addition to the board was perfectly timed to help the company capitalize on its unique position and advantages in the process of developing a profitable and solid business. “D-Wave’s opportunity is significant, supported by remarkable product development, rapidly growing customer adoption and ongoing scientific advancements,” said Dr. Baratz.

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

• The company anticipates a 70% increase in membership in the upcoming year, growing the current number of members from 13,000 in June 2024 to 20,000 in 2025.
• The fourfold increase in membership reflects the growing demand for a change in approach to healthcare that combines innovative personalized strategies with a deep understanding of the served communities.
• The company has established a strong network of over 12,940 providers, enabling it to offer comprehensive care to its rapidly growing member base, especially in Southern California.

Astiva Health, a fast-growing Medicare Advantage Prescription Drug (“MAPD”) health plan, dedicated to reshaping personalized and comprehensive healthcare, anticipates strong growth in membership in 2025, building upon the record-setting performance already achieved this year in terms of network and membership expansion.

According to a company news release, membership is expected to grow by 70% or 7,000 members in the upcoming year, a major increase from the numbers reported this year (https://ibn.fm/VbZnF). Astiva Health started off with a membership jump in January 2024, when it reached 10,000 members (22% higher than the 3,100 members recorded in January 2023), and then again in June 2024 when 13,000 members were recorded.

This remarkable membership increase of more than four times reflects the growing demand for Astiva Health’s unique services and approach to healthcare. The company’s core mission is to efficiently deliver innovative health plans customized to meet its members’ specialized needs, including a culturally responsive approach to healthcare via multilingual solutions for customer service, marketing materials and educational resources.

“We are thrilled to continue building on the momentum we’ve achieved this year,” said Dr. Tri T. Nguyen, Co-founder and CEO of Astiva Health. “Our growth is a testament to the value our culturally aware, personalized healthcare model brings to our members. As we project adding another 7,000 members in 2025, we are committed to expanding our services and enhancing the quality of care we provide.”

Astiva Health’s dedication to serving the underserved population, particularly in Southern California, positioned the company to tap into a market segment with significant growth potential, and allowed it to consistently exceed growth expectations. In addition to the remarkable increase in membership, the company successfully established a strong network of over 12,940 providers, including 10,355 specialists and 2,585 primary care physicians, enabling it to offer comprehensive care to its rapidly growing member base.

Astiva Health also focuses on meeting the growing demand for quality Medicare Advantage plans, offering a type of plan with prescription drug coverage, so members have no need for a separate Part D plan. The company provides a range of options that prioritize member satisfaction and comprehensive care, with the goal of addressing the unique needs of seniors, providing access to extensive networks of healthcare providers and specialized services.

“Astiva Health’s commitment to excellence in healthcare has positioned us for this incredible growth trajectory,” said Chi Luong, CFO of Astiva Health. “As we look forward to 2025, we remain focused on delivering innovative healthcare solutions that cater to the unique needs of our diverse communities. We are excited about the opportunities ahead and remain dedicated to providing our members with the highest level of care.”

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

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

• In just over one year, Torr Metals has identified six undrilled gold anomalies covering a 1.2 x 2-kilometer (“km”) corridor, with gold soil grades up to 1.32 g/t Au along the Trans-Canada Highway; additional 2024 surface assays pending testing a highly prospective 7 km strike-length to potential mineralization
• At the 100% owned Kolos Copper-Gold Project, Torr’s inaugural soil sampling over the past year defined a 7 km porphyry trend with three undrilled copper-gold centers, boasting a footprint 33% larger than Copper Mountain Mine and double the average grades of regional deposits
• Investors can look forward to continued updates on upcoming surface sample assays, ground geophysical surveys, and the launch of inaugural drill programs at both the Kolos and Filion projects. These initiatives aim to explore newly identified high-grade copper-gold porphyry systems at Kolos and test undrilled gold soil anomalies at Filion, potentially unlocking district-scale discoveries within two of Canada’s most prolific mineral belts

Torr Metals (TSX.V: TMET) is an emerging player in Canada’s mining sector, presenting a compelling case for exploration-focused investors. Here are four key points to know about Torr and its compelling projects:

1. District-Scale Opportunities in Prime Locations

Torr Metals prioritizes highway-accessible, early-stage district-scale projects to enhance exploration efficiency and minimize costs. By operating in regions where major mining companies have established operations with near-term feed requirements, Torr positions itself as a standout in the mining sector, strategically aligning its exploration efforts with industry demands.

Its 100%-owned portfolio includes the Filion Gold Project (261 km²) in Ontario, the Kolos Copper-Gold Project (240 km²) in British Columbia, and the Latham Copper-Gold Project (689 km²) in British Columbia’s Golden Triangle—together spanning 1,189 km² of highly prospective mineral-endowed land packages.

Spanning 261 km² in Ontario, Filion is strategically located in northern Ontario near the Trans-Canada Highway and sits within a prolific mining region. Torr’s maiden exploration program in late 2023 revealed six undrilled gold soil anomalies, signaling significant untapped potential. Torr is currently systematically targeting these anomalies through its ongoing large-scale exploration program to test expansion potential and refine targeting for a future maiden drill program.

Kolos spans 240 km² in southern British Columbia, notably located along Canada’s Copper Highway within the prolific Quesnel Terrane. Situated near Canada’s largest open-pit copper mine, Highland Valley, and only 40 kilometers from Kamloops along Highway 5, Kolos benefits from year-round access and established mining infrastructure.

In early 2024, Torr released maiden soil sample results identifying a 7 km porphyry trend encompassing three potential undrilled copper-gold centers. Remarkably, the total footprint of these clustered centers is 33% larger than the nearby Copper Mountain Mine and features double the typical grades of mineralization. These results position Kolos as a new copper-gold exploration opportunity with immense growth potential in a long-lived copper jurisdiction.

Latham covers a sprawling, district-scale 689 km² within the famous “Golden Triangle” region of British Columbia, just 20 km south of Dease Lake with year-round access via Highway 37. Latham boasts six large-scale Cu-Au exploration targets that have never been drilled, alongside the historical Gnat Pass deposit, which features 102 drill holes from the 1960s, outlining a non-compliant resource of 33 Mt at 0.39% Cu (~284 million pounds of copper)¹. The region is host to major copper-gold porphyry operations, including Red Chris and Galore Creek, and has seen nearby high-profile acquisitions like Newmont’s US$311 million takeover of Saddle North in 2021 and Newcrest’s US$804 million purchase of a 70% stake in Red Chris in 2019.

2. Breaking New Ground Through High-Tech: Laying the Foundations for Multiple Inaugural Exploration Programs

Torr Metals has utilized cutting-edge LiDAR technology (Light Detection and Ranging) to uncover high-priority exploration zones in regions historically obscured by thin till cover. At the Filion Gold Project, LiDAR surveys identified 17 previously undocumented historical trenches and 18 new rock outcrops along known VLF-EM conductors, enabling precise surface sampling. The recently concluded 2024 program, which included extensive soil and rock sampling, focused on expanding mineralized zones first delineated in 2023, where gold anomalies spanned a 1.2 km x 2 km corridor centered on the Millar East occurrence. With historical grades as high as 91.4 g/t Au, this work is laying a strong foundation for inaugural drill programs designed to test and expand these promising targets.

At the Kolos Copper-Gold Project, the company will be looking to add to the legacy of the region, where its land is surrounded by multiple long-lived copper mines at Highland Valley (30 km to the northwest), New Afton (30 km to the north), and Copper Mountain (106 km to the south). Notably, initial 2024 fieldwork uncovered the Sonic Zone, a newly identified area of strong magmatic-hydrothermal alteration spanning 1,000 x 2,000 meters. Rock grab samples returned anomalous copper and gold values, suggesting potential for another large-scale Cu-Au porphyry system. This discovery aligns with Torr’s exploration model, complementing the established porphyry centers at Kirby, Lodi, Ace, and Rea to the south, further solidifying Kolos as a promising district-scale opportunity.

3. Charting a New Era of Discovery: Torr Metals Delivers a Series of Transformative Firsts at Filion and Kolos

Torr Metals has consistently demonstrated its ability to identify and advance high-potential exploration targets through innovation and a systematic approach. At Filion, the application of LiDAR technology and targeted surface sampling has uncovered new high-grade zones, establishing a foundation for inaugural drilling on undrilled gold soil anomalies grading up to 1.32 g/t Au in 2023. At Kolos, the discovery of the Sonic Zone represents a significant step forward, identifying another potential large-scale Cu-Au porphyry system alongside previously established targets. These efforts exemplify Torr’s knack for placing a finger on the “needle in the haystack” and transforming untapped potential into value-driven exploration opportunities. By leading with “firsts” at both Filion and Kolos, Torr is building a portfolio of high-quality targets at a low cost to investors poised for potentially significant fresh discoveries.

4. Resilience Amid Geopolitical Shifts

As global trade policies evolve – particularly with the upcoming return of Donald Trump to the U.S. presidency – Torr Metals’ focus on Canadian assets insulates it from trade protectionism risks. The company’s strategic alignment with domestic opportunities ensures it remains adaptable to shifting market dynamics, including rising gold prices and demand for critical metals.

Torr Metals is poised for substantial growth as it advances its innovative exploration strategies across high-potential projects. With ongoing fieldwork through the winter and a series of impactful news releases on the horizon, Torr is an exciting company to watch. For investors seeking exposure to underexplored and strategically positioned copper and gold exploration opportunities, Torr offers a compelling prospect heading into Q4 and the new year.

¹ Ashbury, D.W. (1972): Ore reserves – Dease Lake Mines: personal communication sent by D.W. Ashbury to Dr. S.P. Ogryzlo dated April 28, 1972, 2p.

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

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