• D-Wave reported Q1 2025 revenue of $15 million, up 509% year over year.
• The revenue jump was driven by the sale of an Advantage(TM) quantum system to the Jülich Supercomputing Centre in Germany.
• CEO Dr. Alan Baratz says D-Wave’s recent quantum supremacy demonstration influenced the sale, while also catching the attention of the supercomputer community and national labs around the world.
• Dr. Baratz reiterated that annealing quantum computing is uniquely suited for real-world optimization tasks.

D-Wave Quantum Inc. (NYSE: QBTS) (“D-Wave”), a leader in quantum computing systems, software, and services, is seeing momentum build on both the technical and commercial fronts, according to CEO Dr. Alan Baratz, who appeared on Fox Business’ The Claman Countdown to discuss the company’s progress (https://ibn.fm/fVsGS).

Baratz emphasized a significant milestone recently achieved by the company: the sale of a D-Wave(TM) Advantage quantum computing system to Germany’s Jülich Supercomputing Centre (“JSC”), a deal that contributed to a sharp increase in Q1 revenue. D-Wave reported quarterly revenue of $15 million, a 509% increase compared to $2.5 million in the same quarter last year. The gain was primarily attributed to the Advantage system sale to JSC.

The installation at JSC is notable not only for the revenue it generated but also for its technical implications. The Advantage system is anticipated to be integrated with JUPITER, Europe’s first exascale supercomputer. JUPITER is expected to perform over one quintillion calculations per second, and its coupling with a quantum annealing machine could represent a unique configuration aimed at exploring hybrid quantum-classical computing models. The integration of an annealing quantum computer with an exascale system may open up new research opportunities in materials science, AI optimization, financial modeling, and other areas that require solving complex computational problems.

The sale came on the heels of D-Wave’s recent demonstration of quantum supremacy. In that demonstration, the company’s Advantage2(TM) annealing quantum computing system outperformed a classical supercomputer in solving a magnetic materials simulation problem. During the Fox Business interview, Baratz said the results “caught the attention of the supercomputer community and national labs around the world with a realization that these systems could be used to do some very interesting deep research into new areas” (https://ibn.fm/m0b8e).

Annealing quantum computing systems are uniquely suited for real-world optimization problems faced by businesses today in sectors like logistics, finance, and manufacturing. The D-Wave CEO emphasized that his company’s technology is used in real-world applications for multiple clients now, including Ford Otosan, which deployed a hybrid-quantum application to reduce vehicle production scheduling time from 30 minutes to under five minutes, and Japan Tobacco’s pharma unit, which is using D-Wave’s quantum computer in a drug discovery pilot project, yielding improved molecular structures compared to classical-only approaches.

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, are available on-premises or via the cloud, supported by 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.

• Alzamend Neuro tackles Alzheimer’s, BD, MDD and PTSD with breakthrough therapies.
• AL001 delivers improved brain targeting and fewer side effects than lithium carbonate.
• Phase II trials underway with support from Mass General and AI partner QMENTA.
• ALZN002 offers a novel, adjuvant-free immunotherapy for Alzheimer’s disease.

Alzamend Neuro (NASDAQ: ALZN) is a clinical-stage biopharmaceutical company tackling some of the most pressing neurological and psychiatric conditions of our time — including Alzheimer’s disease, Bipolar Disorder (BD), Major Depressive Disorder (MDD), and Post-Traumatic Stress Disorder (PTSD). With a mission to “Make Alzheimer’s Just a Memory™,” the Atlanta-based company is advancing a robust pipeline of therapies aimed at delivering long-overdue innovation in safety, efficacy, and tolerability. Rather than tweaking existing treatments, Alzamend is engineering bold new approaches that directly address the limitations of current standards of care.

Leading its portfolio is AL001, a patented ionic cocrystal formulation of lithium designed to penetrate the brain more effectively while reducing systemic side effects. In partnership with Massachusetts General Hospital and imaging partner QMENTA, the company launched the first of five Phase II trials in 2025, evaluating lithium distribution using next-generation imaging tools. Alzamend’s broader platform is backed by exclusive licenses from the University of South Florida and leverages strategic alliances with both academic and technological leaders.

The company is also advancing ALZN002, a personalized immunotherapy for Alzheimer’s that uses the patient’s own dendritic cells to generate a targeted response to amyloid-beta plaque — a hallmark of the disease. While paused in early 2024, the Phase I/IIA trial is expected to resume in 2025. Early data have shown promising immune responses without triggering inflammatory side effects, offering a potential path toward disease-modifying treatment — a longstanding unmet need in Alzheimer’s care.

With over 43 million Americans and 660 million people worldwide living with conditions targeted by its pipeline, Alzamend is operating at the intersection of urgent need and massive market potential. Its leadership team, drawn from major biopharma and financial firms, is steering the company through this critical growth phase with a focus on execution and long-term value. As costs for Alzheimer’s and related disorders continue to surge — projected to top $1.1 trillion by 2050 — Alzamend’s differentiated therapies and strong clinical momentum position it as a company to watch in both neuroscience and mental health innovation.

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

The mining sector still has positive opportunities for investors

OPINION

DANIEL SEKULICH

Toronto-based mining and metals reporter

Wow. I guess nobody saw that one coming, did they?

I’m referring, of course, to the 90-day pause on new reciprocal tariffs that was suddenly announced by U.S. President Donald Trump on April 9. The tariffs that had been announced a week earlier, aimed at some 180 countries and territories around the globe as part of his administration’s desire to address the fentanyl crisis or balance trade deficits or finance tax cuts or bolster the domestic economy or punish remote, penguin-inhabited islands for ripping off America. Or something like that.

Regardless, the imposition of those punishing taxes – for that is what tariffs are – had already battered global markets in a manner some observers felt were without precedent. Fitch Ratings, for one, said that the Trump tariffs were reaching a level that hadn’t been seen in 200 years. The financial losses for individuals and companies around the world were skyrocketing into the trillions. Meanwhile, the mining and minerals sector was witnessing a burgeoning panic that seemed unstoppable, with stocks being dumped across the spectrum regardless of the commodities or the fundamentals. The R-word was being openly bandied about and it seemed the sky was falling, or the ship was about to sink.

But then came the social media post that changed the world, announcing that most reciprocal tariffs were on hold. The messaging quickly pivoted to reassurances that the sky wasn’t falling, that this was always part of the plan from a master negotiator. And the sighs of relief this caused became as loud as the bells that closed markets that day. The massive rebound that ensued was the trader’s way of saying, “We’re back in business. Full steam ahead. We’re good.”

But things weren’t good, as the next day of trading showed, followed by tariff confusion that continued for days. And more alarming was what all this chaos did to the American bond markets, as treasuries began to be dumped. When investors are fleeing U.S. treasuries, that’s a titanic sign that something is really bad.

For anyone with long-held interests in the mining sector, the week after Trump’s so-called Liberation Day was a bit jittery, to say the least. For anyone who’d been thinking of investing in the mining sector, it was downright scary. Which leads the question: are there any reasons to be optimistic of about mining stocks in the wake of the tariff terror?

Short answer: Yes.

Longer answer: Yes, if you understand the history of chaos theory as it applies to the mining industry and know where to focus.

The cacophony of voices chiming in with their various thoughts about recent events have created a level of noise that can be cut through with a simple, empirical knife: We’ve been through this before. And there are valuable lessons to be remembered that, unfortunately, appear to have been forgotten.

It was just five years ago that COVID-19 began to decimate the planet, physically and economically. The mining industry went into a tailspin that left investors wondering what the future would hold, because no one knew how to deal with the disruptions caused by the global pandemic.

But there were mining stocks that had the potential to weather the storm and prosper, and precious metals were an obvious choice. They have always been a safe haven for investors, and the resulting rise in the price of gold and silver proved their resiliency and their market value throughout the chaos of the pandemic.

Simply put, if precious metals could thrive through COVID-19, they will most certainly survive Donald Trump. Which means adjusting one’s financial focus away from mayhem and onto stability. And while gold gets most of the attention, silver should not be ignored.

Why silver? Well, it has a few things going for it that its pricier sibling does not have. For one, it’s not just an investment in silver bars sitting in a vault somewhere, it’s also an industrial commodity used in everything from electronics to transportation to clean energy. On the supply side, mine production has been largely stagnant over the past decade, and there simply isn’t enough silver being produced to meet global demand. According to the Silver Institute’s 2024 survey, the silver market has been in deficit for the past three years, driven in part by rising industrial demand—especially from solar panels, which now accounts for over 16% of total consumption. With demand continuing to rise and supply struggling to keep up, the market imbalance is expected to persist—meaning silver could continue to appreciate in value.

So, knowing silver is a good option in these times of turmoil, an investor needs to tighten their focus to those miners who have a track record of low-cost production, fully funded growth pipeline, strong balance sheets and experienced management.

For instance, Silvercorp Metals Inc. (NYSE American: SVM) (TSX: SVM) is a Canadian miner that has been profitably producing silver from its long-life, low-cost operations in China for nearly two decades. The past fiscal year was a record-setter, with silver production nearing 7 million ounces and revenue reaching US$300 million. Full-year results are expected in late May, but the company has consistently delivered strong margins, supported by competitive all-in sustaining costs averaging under US$12 per ounce (net of by-products) in 2024. With major growth projects completed last year—including a mill expansion and a new tailings facility—ongoing mine optimization is expected to lift annual production in China to 9–10 million ounces over the next few years. Notably, all of Silvercorp’s metals are sold within China—making it, in effect, a domestic supplier that remains shielded from direct tariff impacts.

Silvercorp’s robust balance sheet—including US$355 million in cash and cash equivalents as of December 31, 2024—is funding the construction of its fully permitted El Domo copper-gold project in Ecuador. El Domo is a high-grade, open-pit operation with a compact footprint. Production is targeted for late 2026, with the project expected to deliver 25 million pounds of copper and 26,000 ounces of gold annually over a 10-year mine life, at an all-in sustaining cost of just US$1.26 per pound of copper equivalent. A US$175 million precious metals streaming agreement with Wheaton will cover the bulk of construction costs, allowing Silvercorp to preserve most of its cash for potential M&A.

When anyone opines that they’ve never seen anything like this before, it might be worthwhile to ask if they have short term memory loss. And if anyone says no one can know what Trump will do next, it might be worthwhile to remind them that just hours before he made another of his arbitrary economic decisions, the Swiss bank UBS advised investors to buy silver as a means of mitigating the market turmoil. Coincidence?

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Date: June 4-5

Location: New York City

Cannabis Means Business, formerly CWCBEXPO, is proud to announce the New York Global Edition of its premiere business-to-business (“B2B”) cannabis conference. Scheduled for June 4-5 at the Javits Convention Center in New York City, this expo will offer attendees an opportunity to get hands-on with cannabis technology, hear from a fantastic line-up of speakers, network, and forge business deals with leading entrepreneurs in the space.

Some of the speakers will include cannabis entrepreneurs, policymakers, and celebrity advocates, all of whom will share insights that are shaping the industry’s future and would be integral to growing attendees’ businesses. The event’s experience is second to none, with attendees interacting in person with pioneers in the industry, regulatory experts, and other successful entrepreneurs who are significantly shaping the future of cannabis with proven strategies.

Cannabis Means Business has held this expo consistently since 2015. Over the years, it has been lauded for its incredible networking opportunities for attendees. In addition, it has been praised for the quality of insights and information shared throughout the event, with some attendees referring to it as a “firehose of information for anybody fortunate enough to show up.”

There will be pre-show workshops on June 3, and the main event will kick off officially on June 4 with the main expo and conference, as well as the O2VAPE Industry yacht party. The last day will feature another expo, conference, and a Women In Cannabis business luncheon. 61% of attendees are expected to be decision-makers for their organizations, 70% are expected to be well-established cannabis professionals, and 75% will represent the East Coast cannabis business.

• The pre-show workshops and rooftop party will be held on June 3, 2025.
• The Expo & Conference & O2VAPE Industry Yacht Party will be held on June 4
• The Expo & Conference & Women in Cannabis Business Luncheon will be held on June 5

The Cannabis Means Business Conference & Expo is a must-attend for anyone in this space. With a track record spanning over a decade, this event offers value to each attendee and exhibitor. It also offers a platform where, collectively, attendees can shape the industry for the better and scale it to much higher heights.

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

• Investing in clean technologies not only benefits the environment but also enhances operational efficiency and cost effectiveness.
• In its 2024 full-year and fourth-quarter financial results, Vivakor reported remarkable growth, with Q4 revenue increasing 201% YOY.
• Other key milestones for the company included the completion of additional gathering lines and the acquisition of Endeavor Entities.

In an era where environmental sustainability has become a global priority, few industries face more scrutiny than oil and gas. As governments, consumers and investors demand cleaner practices and corporate accountability, companies are being urged to innovate and adapt—or risk falling behind. Vivakor (NASDAQ: VIVK), a vertically integrated energy infrastructure and environmental services company, has taken up this challenge with remarkable success. Focused on transportation, storage, reuse and remediation of oilfield fluids and waste, Vivakor is proving that environmental responsibility and profitability are not mutually exclusive.

The oil and gas industry has historically been a significant contributor to greenhouse gas emissions. However, advancements in clean technology offer pathways to reduce this environmental impact. For instance, a report by Rystad Energy indicates that electrifying oil and gas production facilities can cut emissions by more than 80% (https://ibn.fm/uqGGb). Moreover, the International Energy Agency notes that the oil and gas sector is involved in 90% of current carbon capture, utilization and storage (“CCUS”) capacity, highlighting the industry’s potential role in achieving net-zero emissions (https://ibn.fm/yLhVq).

Investing in clean technologies not only benefits the environment but also enhances operational efficiency and cost effectiveness. The National Renewable Energy Laboratory reports that “incorporating clean energy technologies and otherwise reducing the amount of fossil fuels used in petroleum production, transportation and refining processes has the potential to decrease both energy costs and greenhouse gas emissions, as well as to preserve oil and gas resources for their highest value uses (https://ibn.fm/DOFPc). These findings suggest that environmentally responsible companies are not just engaging in ethical practices—they are also positioning themselves to outperform in the marketplace.

Vivakor’s recent performance illustrates the validity of this business model. In its 2024 full-year and fourth-quarter financial results, the company reported remarkable growth, with fourth-quarter revenue increasing 201% year-over-year to $41.7 million (https://ibn.fm/oSYGC). These results pushed the company into a projected $160 million annualized revenue run-rate entering 2025, signaling robust operational momentum. This growth was achieved while staying true to Vivakor’s mission of environmental remediation and oilfield waste reuse, two objectives often seen as at odds in traditional models but fully aligned in Vivakor’s approach.

Another key milestone for the company includes the completion of additional gathering lines connected to its Omega Pipeline System in Blaine County, Oklahoma. This project, which consists of two new gathering lines, is expected to bring immediate incremental customer volumes from connected oil production.

“The Omega Pipeline System is an approximately 40-mile crude oil gathering and shuttle pipeline system that serves the STACK play in Oklahoma’s Anadarko Basin,” the company reported. “It is supported by acreage dedications from key producer and marketing customers, and is connected to the Cushing, Oklahoma, storage and trading hub via the Plains STACK Pipeline. The Omega Pipeline System’s operations are complemented by and integrated with a fleet of approximately two dozen trucks supporting additional incremental volumes from customers.”

In addition, the company has closed on the acquisition of Endeavor Entities, which includes Endeavor Crude LLC, Meridian Equipment Leasing LLC, Equipment Transport LLC, and Silver Fuels Processing LLC, as well as their subsidiaries (https://ibn.fm/UJx2u). This means that Vivakor now owns one of the largest combined fleets of oilfield services in the continental United States.

“Thanks to the support of our shareholders, lenders, business partners, operating and management teams and board of directors, Vivakor had a highly successful 2024, expanding our business organically and through acquisitions, highlighted with the closing of the acquisition of the Endeavor Entities,” said Vivakor CEO James Ballengee. “The Vivakor team has been, and continues to, work tirelessly to fully integrate and improve efficiencies from the business combination with those entities, and I couldn’t be more pleased with the results.

“This past year was transformative for our company and a testament to our evolution as a diversified infrastructure company, with midstream assets in logistics, gathering and storage, as well as sustainable assets in environmental services, remediation and processing solutions,” Ballengee continued. “In gathering and storage, Vivakor moves over 300,000 barrels/month through various assets. In logistics, Vivakor owns and operates over 165 crude oil transportation units in every major domestic oil production basin and over 105 water transportation trucks in south and west Texas. In environmental services, Vivakor’s technology is the only approved recycling processing center (‘RPC’) approved by the Kuwait Oil Company to successfully reduce oil concentration in soil to less than 0.5%.

“By maintaining a strong focus on financial responsibility and operational efficiency, we aim to maximize shareholder value, while advancing our growth mission to expand organically and through acquisitions in 2025 and thereafter,” he concluded.

Looking forward, Vivakor is focused on expanding its environmental services segment, investing in infrastructure that enhances waste oil processing and advancing technologies that reduce emissions and environmental impact. By positioning itself at the intersection of energy production and environmental innovation, the company is poised to play a vital role in the sustainable-energy landscape of the future.

As sustainability continues to influence policy decisions, investment flows and consumer preferences, companies that adopt proactive environmental strategies are likely to thrive. Vivakor exemplifies this shift. Through strategic acquisitions, technological integration and a deep commitment to conscious growth, the company has not only adapted to the pressures of a changing world, but it is also actively shaping a cleaner, more resilient future for the energy sector.

For more information, visit the company’s website at https://vivakor.com.

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

• Newton Golf reports three-figure revenue growth in first quarter of 2025.
• Newton Motion shaft adoption has surpassed 30 professionals.
• Company’s revenue guidance for 2025 is forecast to range between $6.5 and $7 million.

With the launch of its newest shaft family, Newton Golf Company (NASDAQ: NWTG) is seeing triple-figure year-over-year revenue growth, according to the company’s latest financial numbers (https://ibn.fm/hAQWB). The company released its financial report for Q1 2025, noting that revenue had increased an impressive 246% during the first three months of the year.

“We are very pleased with our first-quarter results, especially given that it is typically the offseason for golf,” said Newton Golf CEO Greg Campbell. “When we launched the Newton Motion shaft, our goal was to engineer performance that speaks for itself. The fact that more than 30 professionals are now using Newton shafts across major tours — and that eight of those joined in Q1 — validates both the technology and our direction. We’re just getting started. Demand for our Fast Motion shaft has exceeded expectations, and we are ramping up production to keep pace.”

According to the company’s report, financial highlights for first quarter 2025 include revenue of $1.2 million, up from $350,000 in Q1 2024; an increase in gross profit of 348%, totaling $852,000, up from $190,000 in 2024; and gross margin reaching 70%, up from 54% a year ago. In addition, the report noted that net loss for the company decreased to $0.5 million, or $0.55 per share, compared to $1.2 million, or $24.85 per share in Q1 2024; the company reported cash and cash equivalents of $5.9 million as of March 31, 2025.

Perhaps most exciting for the company was the news that Newton Motion shaft adoption has surpassed 30 professionals, with eight new players joining across PGA TOUR Champions, LPGA, Korn Ferry and PGA TOUR events during the quarter. Other business highlights from the quarterly report included shaft sales growth of 314% year over year and the opportunity to showcase the company’s full product lineup at the 2025 PGA Show.

The quarterly report also noted the company’s growing international reach. Newton Golf signed distribution agreements with two of Japan’s largest golf retailers, and expanded product testing and engagement with club fitting leaders in Europe and North America.

In addition, the Q1 report noted the company’s revenue guidance for 2025, which is forecast to range between $6.5 and $7 million, representing continued strong growth from 2024. “We continue to execute with discipline and focus,” Campbell stated. “The 246% year-over-year revenue growth reflects strong demand, expanding distribution and improving unit economics.

“As we look ahead to the rest of 2025, our focus remains on expansion—new products, new markets, and continued tour validation,” Campbell continued. “We believe Newton’s trajectory is being driven by something deeper than hype. It’s being driven by results, by performance, and by trust on tour. And we’re building for the long-term.”

For more information, visit www.NewtonGolfCo.com.

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

• Subsidiary HOPE Therapeutics signed a $7.8 million debt financing term sheet with Universal Capital.
• Combined with a prior strategic investment, for which a financing term sheet has also been signed, the total financing investment, assuming both are closed, represents an expected $10.3 million for HOPE acquisition funding, supporting initial acquisitions of Dura Medical, Kadima, and NeuroSpa clinics.
• The expanding HOPE clinic network will deliver neuroplastic therapies for depression and PTSD, including ketamine and TMS.
• NRx continues regulatory progress for NRX-100 (IV ketamine) and NRX-101 (oral bipolar depression therapy).
• The FDA waived NRx’s $4.3 million drug application fee, and patents could protect NRX-100 through 2045.

NRx Pharmaceuticals (NASDAQ: NRXP), a clinical-stage biopharmaceutical company, is advancing its twin strategy of expanding a nationwide mental health clinic network while progressing toward FDA approval of its NMDA-based therapies for suicidal depression and bipolar disorder.

The company’s wholly owned subsidiary, HOPE Therapeutics, Inc., a medical and technology-driven company, has signed a term sheet for $7.8 million in debt financing with Universal Capital, LLC (https://ibn.fm/tZzIa). The funds will support HOPE’s clinic acquisition strategy, starting with the previously announced acquisitions of Dura Medical, Kadima Neuropsychiatry Institute, and NeuroSpa TMS Holdings. Together with a separate strategic investment, for which a financing term sheet was signed earlier, HOPE expects to deploy $10.3 million in acquisition capital in the near term, once both agreements are closed.

The clinics will provide interventional psychiatric care focused on neuroplastic therapies like transcranial magnetic stimulation (“TMS”) and intravenous ketamine. These approaches are increasingly used to treat conditions including major depressive disorder, PTSD, and suicidality, offering alternatives to traditional pharmacological treatments.

The acquired clinics are expected to represent roughly $15 million in pro forma revenue for 2025. NRx has also entered talks with four additional clinical entities that could add another $20 million in revenue potential. Management’s stated goal is to scale to $100 million in forward-looking pro forma revenue by year-end.

HOPE Therapeutics has already begun serving veterans through VA contracts, with potential for significant expansion as more clinics come online. U.S. health officials, including the Secretary of Health and Human Services and the VA Secretary, have publicly emphasized the importance of psychedelic and neuroplastic treatments in addressing the nation’s suicide crisis.

HOPE’s expansion takes place as NRx moves closer to FDA approval for its proprietary ketamine formulation, NRX-100. The drug, a preservative-free IV ketamine therapy for suicidal depression, completed the stability and sterility testing needed for its New Drug Application (“NDA”). The NDA is on track to be filed in Q2 2025. The FDA has granted a waiver for the $4.3 million submission fee for NRX-100, and has previously assigned Fast Track Designation to the drug, according to the company’s Q1 financial results and corporate update (https://ibn.fm/cN2Nh).

In May, NRx filed a U.S. patent application for NRX-100, which may offer protection through 2045. The drug is designed to exclude benzethonium chloride, a preservative with known neurotoxicity, making it potentially the only FDA-approved IV ketamine without this additive. The company also announced development of HTX-100, a pH-neutral subcutaneous ketamine formulation, targeting broader outpatient use by eliminating the current formulation’s acidity and associated side effects.

The broader market opportunity for NRX-100 is substantial. Suicidal depression affects millions in the U.S. and is estimated to represent a $3 billion addressable market. 

In parallel, the company is advancing NRX-101, an oral therapy for bipolar depression with suicidality or akathisia. The drug has shown efficacy in late-stage trials and has already received Breakthrough Therapy Designation. A filing for accelerated approval is expected later in 2025, with a PDUFA date anticipated by year-end.

NRx presented these updates at the recent Wall Street Conference in Palm Beach, Florida, where the company was one of six featured presenters. Over 1,000 attendees representing more than $1 trillion in capital were present for the presentation given by CEO, Founder, and Chairman Jonathan Javitt, MD, MPH, underscoring investor interest in the company’s progress (https://ibn.fm/QJwZ0).

Commenting on the recent updates, Javitt underlined that the company’s 2024 momentum continued into 2025, as it has advanced regulatory filings for NRX-100 and NRX-101 and advanced commercial opportunity with potential new IP protection for NRX-100, now added to the company’s already robust NMDA IP portfolio. “We also took meaningful steps toward realizing our vision for HOPE Therapeutics as a national network of interventional psychiatry clinics—beginning with the announcements on the planned acquisition of Kadima, Dura Medical, and Neurospa TMS,” said Javitt. “These accomplishments reflect our team’s dedication to advancing mental health innovation and delivering life-saving treatments to patients in urgent need.”

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

Ecuador is on the verge of a mine-building surge, as President Daniel Noboa’s reelection coincides with high metals prices and a handful of projects ready for development.

He will start his second term on May 24 on the brink of a mining bonanza, with six projects at the development stage representing at least US$10 billion in investment slated for construction decisions during the 2025-2029 presidential term.

During his current term, truncated to about 18 months as he is completing the term of the previous incumbent, Guillermo Lasso, Noboa has been an advocate of growing Ecuador’s mining sector to boost employment, public coffers and diversify the economy. The country’s needs are many and Noboa recognizes that Ecuador needs the investment and wealth generation that mining can bring.

In a busy 18 months, his administration has overseen projects obtaining permits and signed tax stability agreements with several companies. It has also successfully negotiated a free trade agreement (“FTA”) with Canada, which includes an investment chapter, although without a mining-specific chapter.

Of particular note is that Noboa won in the mining provinces of Azuay, Bolivar, Cotopaxi, El Oro, Esmeraldas, Imbabura, Morona Santiago and Loja.

The positive scenario in Ecuador was quickly recognized by China’s mining giant CMOC (~US$21 billion market cap), which agreed to buy gold-copper developer Lumina Gold for C$581 million at a 71% premium in April for its Cangrejos deposit. China’s Jiangxi Copper also increased its investment into another Ecuador copper-gold developer, Solgold, becoming its largest shareholder with a 12% stake.

International lending agencies such as the World Bank (“WB”) and the International Monetary Fund (“IMF”) are keen for Ecuador to develop its natural resources and presumably be less dependent on loans. “WB and IMF both recently said that Ecuador should drive mining development,” Maria Eulalia Silva, president of Ecuador’s Mining Chamber said recently.

Silva said that Ecuador is no longer naïve when it comes to mining and the people can draw on the positive experience the country has had through the successful developments of Lundin Gold’s Fruta del Norte gold mine and Ecuacorriente’s Mirador copper mine, which both started production in 2019. The development of these two mines have seen Ecuador’s mining exports soar to become its fourth largest export, accelerating from US$275 million in 2018 to US$3.3B in 2023. Higher metal prices and more projects will see these continue to climb.

Silvercorp’s El Domo Project

Leading the charge to develop Ecuador’s next mine is Silvercorp Metals Inc. (TSX: SVM) (NYSE-A: SVM), whose El Domo project, which it will develop with local partner Salazar Resources (TSX.V: SRL), is poised to become Ecuador’s first new mine in nearly a decade. This was one of the projects that received its final permits from the Noboa administration in 2024, with the partners aiming to bring it into production by the end of 2026.

Located 150 km northeast of Guayaquil, the US$241-million development has a 2021 feasibility study that outlined a 10-year operation to produce an annual average of 24Mlb of copper, 26,000oz of gold, 26Mlb of zinc, 488,000oz of silver and 0.9Mlb of lead at an all-in sustaining cost of US$1.26/lb of copper equivalent.

El Domo, which was discovered by Salazar in 2008, hosts proven and probable reserves of 6.5 million tonnes grading 1.93% copper, 2.52g/t of gold, 2.49% zinc, 45.7g/t of silver and 0.25% lead, which makes it among the highest-grade copper-gold projects globally.

El Domo mine construction is fully financed through a US$175.5-million streaming deal that the previous owner, Adventus Mining, secured from Wheaton Precious Metals (TSX: WPM) (NYSE: WPM) (LSE: WPM), along with Silvercorp’s strong balance sheet, which has US$355 million in cash as of December 31, 2024.

Silvercorp, a proven mine builder and operator with a track record of success in China developing and operating low-cost mines, is now applying the same disciplined capital allocation, results-driven approach to the El Domo Project. In April, the company announced the budget for El Domo’s development of US$240.5 million, 3% below the US$247.6 million estimate in the 2021 feasibility, at a time when developers are battling inflation. The cost reduction stems from mine design optimization, lower equipment costs, and a unit-cost contract bidding strategy, resulting in US$32.6 million in direct cost saving. The latest budget also includes a larger contingency of US$31.9 million, up from US$22.0 million, providing additional flexibility.

Silvercorp’s ability to execute efficiently is not theoretical, it has already delivered. At one of its operations in China, the company completed a new tailings storage facility for just US$28 million, coming in well below the original $38 million budget. Silvercorp has also successfully carried out a mill expansion of comparable scale to El Domo on time and under budget. These accomplishments reflect a repeatable, disciplined execution model that Silvercorp is now bringing to Ecuador.

Construction is now underway with pit stripping and plant construction scheduled to commence in Q3 2025, and commissioning targeted in December 2026. Silvercorp has advanced detailed engineering for the tailings storage facility (“TSF”), saprolite waste dump, and water management system, and optimized designs for the open pit mine and process plant, and site access. It has also secured grid power through a powerline contract with the state-owned power company CNEL and is advancing on permitting and sourcing for standby diesel power generators for the dry season, when hydropower will be less available.

With work well underway and momentum building, Silvercorp is positioned to move rapidly through the development process to bring Ecuador’s next mine into production early in President Noboa’s second term at a time when the country needs mining most.

For more information about Silvercorp Metals, please visit silvercorpmetals.com/welcome.

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• Newton Golf’s new Fast Motion shaft exemplifies how a company can use innovation to sharpen its competitive edge.
• The Fast Motion shaft incorporates several proprietary technologies that Newton Golf has developed over time.
• This product launch is timely, as the golf equipment market continues to experience growth, driven by a surge in participation and a demand for premium gear.

Innovation has long been a driving force behind business growth, market disruption and brand longevity across nearly every sector of the global economy. In the world of sports equipment, few areas are as ripe for innovation as golf, where players are always seeking performance gains. Newton Golf Company (NASDAQ: NWTG) has seized this opportunity with the launch of its latest product: the Fast Motion shaft family (https://ibn.fm/9Z5jh). With this innovative new offering, the company aims to redefine performance standards and capitalize on the growing appetite for cutting-edge golf technology.

Companies that embrace forward-thinking ideas and invest in product development often find themselves ahead of the curve—delivering better solutions, improving customer satisfaction and achieving long-term profitability. The significance of innovation in business is underscored by numerous studies. According to McKinsey, 84% of executives believe innovation is critical for growth, and companies that prioritize innovation are 50% more likely to report market leadership. Furthermore, organizations that foster a culture of innovation are three times more likely to outperform competitors (https://ibn.fm/OSC6w).

Newton Golf’s new Fast Motion shaft exemplifies how a company can use innovation to sharpen its competitive edge. This latest addition to the Newton shaft lineup introduces a lighter-weight, high-performance alternative to existing models. Designed for golfers seeking increased distance and higher swing speeds, the Fast Motion shaft delivers these enhancements without compromising control or accuracy. In doing so, Newton continues to build on its strong reputation for combining advanced engineering with a deep understanding of player needs.

The Fast Motion shaft incorporates several proprietary technologies that Newton Golf has developed over time. These include the following:

• Elongated Bend Profile, which contributes to a smooth, consistent flex throughout the swing
• Kinetic Energy Storage, which optimizes energy transfer from the shaft to the ball
• Symmetry 360 Construction, providing stability in all directions
• Variable Bend Profile, which fine-tunes the release for better feel and control

With the Fast Motion shaft, Newton builds on these foundational technologies while introducing weight reduction through the use of ultralight, high-modulus Toray carbon fibers—materials known for their extraordinary strength-to-weight ratio and frequently used in aerospace and Formula 1 applications.

This product launch is timely, as the golf equipment market continues to experience growth, driven by a surge in participation and a demand for premium gear. According to the National Golf Foundation, more than 28.1 million people played golf on a course in the United States in 2024 — the highest number in over a decade (https://ibn.fm/kDzfs). The demand for quality equipment, especially in the aftermarket shaft category, has surged accordingly. Golfers of all skill levels are now investing in advanced gear that can help improve their game, and innovation is at the heart of that trend.

For Newton Golf, innovation has translated into tangible results. The company reported an 887% revenue increase in fiscal year 2024, largely driven by strong sales of its first-generation shaft lineup (https://ibn.fm/IzgnH). With the introduction of the Fast Motion shaft, Newton is poised to build on this momentum, targeting golfers who are eager to push the boundaries of performance while maintaining a high level of playability. The Fast Motion shaft was launched with widespread availability online and at fitting locations across the country, ensuring accessibility for players at all levels.

Newton’s innovative spirit is deeply rooted in its mission to “empower golfers with scientifically advanced tools that maximize consistency and accuracy, ensuring every swing is backed by the laws of physics.” The company’s product philosophy is based on rigorous testing, continuous refinement and a commitment to meeting the specific needs of today’s golfer. The Fast Motion shaft reflects these principles, demonstrating that innovation is not simply about newness but also delivering measurable improvements.

As competition in the golf equipment market intensifies, Newton Golf’s focus on innovation ensures that it won’t just keep pace—it will lead. The Fast Motion shaft is more than just a new product; it represents a larger vision for the company, one that prioritizes technological advancement, player-centric design, and a relentless pursuit of performance. In doing so, Newton Golf is carving out a position not only as a supplier of premium golf components but as an innovation leader in the industry.

For more information, visit www.NewtonGolfCo.com.

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

• Total assets rose to $194 million as of March 31, 2025, as compared to the end of the last fiscal year, following a key acquisition.
• Revenue from the company’s independent power producer segment grew from $0.3 million to $6.6 million.
• This reflects the company’s focus on long-term income-generating assets, versus short-term engineering, procurement, and construction/project sales.
• During the third quarter, SolarBank executed several operational milestones that align with this longer-term focus.

Disseminated on behalf of SolarBank Corporation

SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., posted fiscal third-quarter results reflecting a sharp increase in total assets with a notable shift in its revenue model.

The company reported a 395% increase in assets, rising from $39.2 million as of June 30, 2024, to $194 million by March 31, 2025. This jump was primarily driven by the acquisition of Solar Flow-Through Funds Ltd., a strategic move that significantly expanded SolarBank’s asset base and supports its evolving business model as outlined in the Q3 update (https://ibn.fm/YIsC8).

SolarBank is transitioning from a model focused on up-front Engineering, Procurement, and Construction (“EPC”) and project sales, toward building a portfolio of long-term income-generating assets through its Independent Power Producer (“IPP”) segment. While this shift may reduce short-term revenue, the long-term aim is a stable and recurring revenue stream.

Evidence of this transition can be seen in the company’s IPP revenue, which rose to $6.6 million during the nine-month period ended March 31, up from just $0.3 million in the previous year.

During the third quarter, SolarBank executed several operational milestones. The company sold its 3.26 MW Camillus Solar Project to Solar Advocate Development LLC for $7.3 million USD. Though the project sale represents immediate revenue, it also reflects SolarBank’s role in originating and maturing assets for its pipeline.

It also broke ground on its first battery energy storage system (“BESS”) project in Ontario. The construction is backed by a $25.8 million project finance facility from the Royal Bank of Canada, marking a key step in its expansion into hybrid energy storage solutions.

In the U.S., SolarBank announced a partnership with Viridi, a provider of fail-safe BESS technology, for the development of a 3.06 MW solar project with a 1.2 MWh BESS component in Buffalo, New York.

The company further disclosed a financing mandate with infrastructure investor CIM Group. The deal could unlock up to $100 million USD in project-based financing for a U.S. solar power portfolio totaling 97 MW. The CIM transaction is expected to be non-dilutive and represents a potential step-change in the scale of SolarBank’s project financing.

This shift toward long-term revenue generation through power production and storage assets is a notable strategy for investors looking beyond traditional solar EPC companies. With growing demand for clean energy and increasing interest in hybrid solutions that include storage, SolarBank is positioning itself to participate more fully in the infrastructure side of the sector.

“SolarBank continues the growth of its independent power producer portfolio. The non-dilutive CIM transaction will provide up to US$100 million in equity capital for projects that will transform SolarBank’s independent power producer asset base, creating long-term revenues for years to come,” said CEO Dr. Richard Lu. “As discussed in prior quarters, this strategy means less short-term revenue from EPC and project sales, but will have the benefit of stable long-term recurring revenues.”

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

This report contains forward looking information. Please refer to the press release entitled “SolarBank Announces Third Quarter Results” for additional details on the information, risks and assumptions.

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