Asara Resources (AS1:AU) has announced Drilling confirms grade continuity at depth and along strike
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President Donald Trump on Thursday filed a $5 billion lawsuit against JPMorgan Chase and its CEO Jamie Dimon, claiming that the bank improperly closed his accounts for political reasons.
‘While we regret President Trump has sued us, we believe the suit has no merit,’ a JPMorgan Chase spokesperson said. ‘We respect the President’s right to sue us and our right to defend ourselves – that’s what courts are for.’
The suit accuses the bank of libel and breach of implied covenant of good faith and fair dealing. It also says the bank and its chief executive violated Florida trade practices laws.
The suit says Trump held ‘several’ accounts at the firm which were closed.
On Feb. 19, 2021, shortly after the Jan. 6 Capitol Hill riot, the bank notified Trump that the accounts would be closed within two months, the suit also says.
The lawsuit adds to a still-growing list of legal efforts from Trump directed at a wide variety of institutions — from media outlets to tech platforms — many of which have resulted in multimillion-dollar settlements. The president’s company, the Trump Organization, sued Capital One Bank last year over allegations of improper account closures. Capital One said at the time that the allegations have no merit.
Dimon, as head of JPMorgan Chase, the nation’s largest bank, is among the most influential people in the business world and someone who has been courted for years by Republicans and Democrats. In the run-up to the 2024 election, Trump falsely claimed that Dimon had endorsed him.
Dimon has at times been critical of some Trump policies — most notably inflation — while supportive of others, including efforts to streamline the U.S. government.
On Wednesday, Dimon criticized the Trump administration over its immigration policies.
‘I don’t like what I’m seeing,’ Dimon told attendees at the World Economic Forum in Davos, Switzerland. Dimon also said that while he doesn’t agree with everything the administration does, he does agree with some of its economic policies.
On Saturday, Trump threatened the lawsuit in a Truth Social post. Over the weekend, JPMorgan Chase said it appreciated ‘that this administration has moved to address political debanking and we support those efforts.’
Almost exactly one year ago, Trump used an address at the World Economic Forum to take a shot at JPMorgan and its competitor, Bank of America.
‘I hope you start opening your bank to conservatives because many conservatives complain that the banks are not allowing them to do business,’ Trump said.
“You and Jamie and everybody, I hope you’re going to open your banks to conservatives because what you’re doing is wrong,” Trump said.
Bank of America said that it serves over 70 million consumers and does not close accounts for political reasons. JPMorgan says that it also serves tens of millions of accounts and likewise does not close accounts on political grounds.
In an expletive-laden interview with CNBC last year, Trump vented his frustrations at big banks that close accounts for legal and regulatory reasons.
‘I had JPMorgan Chase — I had hundreds of millions of dollars in cash,’ Trump told the cable network on Aug. 5. ‘I was loaded up with cash, and they told me, ‘I’m sorry, sir, we can’t have you.”
Trump says he was informed he had 20 days to move his assets out of the bank. ‘I said, ‘You got to be kidding. I’ve been with you for 35, 40 years,” the president recounted.
Trump said, ‘then what happens is I call a Bank of America.’
‘And they have zero interest,’ he said. CEO Brian Moynihan ‘was kissing my a– when I was president, and when I called him after I was president to deposit a billion dollars plus and a lot of other things … and he said, ‘we can’t do it.”
The JPMorgan Chase spokesperson said Thursday that the bank ‘does not not close accounts for political or religious reasons. We do close accounts because they create legal or regulatory risk for the company.’
Trump was indicted multiple times after his first term in office. In 2024, he was indicted on charges that he conspired to defraud the United States, conspiracy to to obstruct an official proceeding, obstruction of and attempt to obstruct an official proceeding and conspiracy against rights.
In recent years, banks have faced intense pressure from conservatives leveling ‘debanking’ claims against them. However, banks and their lobbying groups have long maintained that they do not close accounts for political or religious reasons, but they close accounts based primarily on legal or regulatory grounds.
Trump’s administration has sought to ease those regulations in order to make it harder for a bank to close a customer’s account. In August, Trump signed an executive order which sought to end ‘politicized or unlawful debanking activities.’
In September, the Office of the Comptroller of the Currency, one of the top banking regulators, began a review of banking rules to ‘depoliticize the banking system.’
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Wording in 3rd paragraph ‘Engagement of Michael Pound’ has been corrected to reflect that Mr. Pound is no longer at arm’s length of the company.
Domestic Metals Corp. (the ‘Company‘ or ‘Domestic‘) – (TSXV: DMCU,OTC:DMCUF; OTCQB: DMCUF; FSE: 03E) announces that it has engaged the services of ICP Securities Inc. (‘ICP‘) to provide automated market making services, including use of its proprietary algorithm, ICP Premium, in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. ICP will be paid a monthly fee of C$7,500, plus applicable taxes. The agreement between the Company and ICP was signed with a start date of January 23, 2026 and is for four (4) months (the ‘Initial Term’) and shall be automatically renewed for subsequent one (1) month terms (each month called an ‘Additional Term’) unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable. There are no performance factors contained in the agreement and no stock options or other compensation in connection with the engagement. ICP and its clients may acquire an interest in the securities of the Company in the future.
ICP is an arm’s length party to the Company. ICP’s market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company’s shares. ICP will be responsible for the costs it incurs in buying and selling the Company’s shares, and no third party will be providing funds or securities for the market making activities.
Engagement of Michael Pound
Pursuant to the Company’s news release dated December 11, 2025, the Company provides additional clarification pursuant to Michael Pound’s engagement. The Company added Michael Pound to its Investor Relations team. Michael has over 30 years of Market experience and also holds a wealth of knowledge including an extensive network within the small cap community. Mr. Pound will be focused on investor outreach to that community and provide shareholder and corporate communication services and other investor relations related services. Mr. Pound will be paid a monthly cash fee of C$7,500 per month plus applicable taxes. The agreement was entered into on February 17, 2025 and is for twelve (12) month term which will automatically renew for an additional one-year term, and shall thereafter renew for further one-year terms unless terminated pursuant to the terms of the agreement. On February 17, 2025, Mr. Pound was granted 500,000 options at an exercise price of $0.10 for a period of five years and includes vesting provisions whereby one-quarter of the options vest every four months. Mr. Pound is no longer at arm’s length to the Company as he holds stock options and is a less than 5% shareholder of the Company.
Opportunity to Meet with Domestic’s Management
We appreciate meeting with our supporters and shareholders in person to provide a detailed update and as such are looking forward to seeing you at our booth #1101 at the VRIC in Vancouver on January 25-26, 2026 and booth #3139 at the Investors Exchange at the PDAC, March 1-4, 2026, in Toronto.
About ICP Securities Inc.
ICP Securities Inc. is a Toronto based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.
About Domestic Metals Corp.
Domestic Metals Corp. is a mineral exploration company focused on the discovery of large-scale, copper and gold deposits in exceptional, historical mining project areas in the Americas.
The Company aims to discover new economic mineral deposits in historical mining districts that have seen exploration in geologically attractive mining jurisdictions, where economically favorable grades have been indicated by historic drilling and outcrop sampling.
The Smart Creek Project is strategically located in the mining-friendly state of Montana, containing widespread copper mineralization at surface and hosts 4 attractive porphyry copper, epithermal gold, replacement and exotic copper exploration targets with excellent host rocks for mineral deposition.
Domestic Metals Corp. is led by an experienced management team and an accomplished technical team, with successful track records in mine discovery, mining development and financing.
On behalf of Domestic Metals Corp.
Gord Neal, CEO and Director
(604) 657 7813
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X, LinkedIn, Facebook and Instagram
For more information on Domestic Metals, please contact:
Gord Neal, Phone: 604 657-7813 or Michael Pound, Phone: 604 363-2885
Please visit the Company website at www.domesticmetals.com or contact us at info@domesticmetals.com.
For all investor relations inquiries, please contact:
John Liviakis, Liviakis Financial Communications Inc., Phone: 415-389-4670
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that may be deemed ‘forward-looking statements’. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Forward-looking statements may include, without limitation, statements relating to the Company’s continued stock exchange listings and the planned exploration activities on properties. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to: competition within the industry; actual results of current exploration activities; environmental risks; changes in project parameters as plans continue to be refined; future price of commodities; failure of equipment or processes to operate as anticipated; accidents, and other risks of the mining industry; delays in obtaining approvals or financing; risks related to indebtedness and the service of such indebtedness; as well as those factors, risks and uncertainties identified and reported in the Company’s public filings under the Company’s SEDAR+ profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
News Provided by GlobeNewswire via QuoteMedia
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Investor Insight
New Found Gold is an emerging Canadian gold producer with a multi-asset portfolio in Newfoundland and Labrador, anchored by the high-grade, district-scale Queensway project and complemented by the Hammerdown operation and permitted processing infrastructure at Pine Cove and Nugget Pond. New Found Gold offers a combination of near-term cash flow potential and long-term, district-scale growth.
Overview
New Found Gold (TSXV:NFG,NYSE:NFGC) is an emerging Canadian gold producer with assets located in Newfoundland and Labrador, Canada. The company’s portfolio includes its flagship Queensway gold project, as well as the Hammerdown operation, Pine Cove mill and Nugget Pond hydrometallurgical gold plant.
In 2025, New Found Gold refreshed its board of directors and management team, adding a group of experienced mine builders and operators to support the company’s transition from exploration to production, and build off its established exploration expertise. The reconstituted board is led by chairman Paul Andre Huet and includes seasoned mining executives and capital markets specialists.
In November 2025, New Found Gold completed the acquisition of Maritime Resources, creating a diversified gold company with both development and producing assets in a top-tier jurisdiction. The transaction brought together two high-quality gold projects — Queensway and Hammerdown — and added permitted processing infrastructure, positioning the company to pursue a clear path to production and cash flow.
The company is currently focused on ramping up Hammerdown safely and efficiently through 2026, while advancing Queensway through engineering, permitting and project finance toward a targeted Phase 1 start-up in H2/2027. This multi-asset approach is intended to support near-term cash flow potential while maintaining meaningful exploration and development upside through Queensway’s large, high-grade gold system.
At Queensway, New Found Gold has consolidated a district-scale land position and continues to advance technical work including infill drilling, grade control drilling, geotechnical studies, metallurgical testwork, environmental baseline studies and broader exploration programs. In parallel, the company has engaged Cutfield Freeman as project finance advisor to help evaluate and select an optimal financing package for Queensway Phase 1 initial capital.
Company Highlights
- District-scale land package at Queensway totaling 230,225 hectares and covering more than 110 kilometres of strike along two major fault zones
- Hammerdown operation commenced production with a first gold pour in November 2025 and is targeted to ramp up to commercial/steady-state production through 2026
- Ownership of the Pine Cove operation (fully permitted mill and tailings facility) and Nugget Pond hydrometallurgical gold plant, providing processing infrastructure and optionality to support both Hammerdown and Queensway Phase 1
- Strengthened management team and refreshed board led by chairman Paul Andre Huet, with a solid shareholder base including cornerstone investor Eric Sprott
Key Projects
Queensway Gold Project
The 100 percent owned Queensway gold project is New Found Gold’s flagship asset and the primary driver of long-term value creation. Located in central Newfoundland, Queensway spans 230,225 hectares and covers more than 110 kilometres of strike along the Appleton and JBP fault zones, highlighting its district-scale exploration potential.
Aerial view of the Queensway gold project, adjacent to the Trans-Canada Highway near Gander, Newfoundland and Labrador
In 2025, New Found Gold published its initial MRE for Queensway, outlining 18 Mt grading 2.40 grams per ton (g/t) gold for 1.39 Moz (indicated), with an additional 10.7 Mt grading 1.77 g/t gold for 0.61 Moz (inferred), establishing a solid mineral resource base to underpin development studies.
In July 2025, New Found Gold completed a PEA for Queensway showing total production of approximately 1.5 Moz over a 15-year mine life and robust base-case economics, including after-tax NPV5 percent of C$743 million and after-tax IRR of 56.3 percent at US$2,500/oz gold, with life-of-mine AISC of US$1,256/oz, and Phase 1 initial capital of approximately C$155 million. The PEA outlines a phased development strategy designed to accelerate the project’s path to production, with Phase 1 focused on high-grade, near-surface mineralization from the Appleton Fault Zone (AFZ) Core and a low-capital processing approach leveraging off-site milling and tailings capacity (including the company’s permitted Pine Cove facility).
The AFZ Core hosts multiple high-grade gold zones, including Keats, Iceberg, Keats West, Lotto and Monte Carlo, which form the foundation of the PEA mine plan. Ongoing infill drilling, grade control drilling, excavation and geotechnical programs are being carried out to support mine planning, improve resource confidence, and advance future mineral resource updates. In 2025, the company completed more than 74,000 metres of diamond drilling, primarily focused on resource definition and pre-development work, alongside continued near-surface excavation, mapping and channel sampling in key zones.
Beyond the current mine plan, continued drilling along strike and at depth across Queensway has delivered new discoveries, highlighting the project’s potential for resource growth beyond the initial PEA scope. Notably, exploration success at targets outside the AFZ Core — including the Dropkick zone — underscores the broader camp-scale potential across the district-scale land package.
Hammerdown Operation
The Hammerdown operation is a high-grade gold project that New Found Gold is advancing through production ramp-up. Following the Maritime acquisition, Hammerdown achieved a first gold pour in November 2025 and is targeted to ramp up to commercial/steady-state production later in 2026.
Hammerdown benefits from on-island processing infrastructure and regional synergies, providing the company flexibility to pursue a production-focused strategy alongside ongoing development at Queensway. Hammerdown is the first step in establishing New Found Gold as a new Canadian gold producer.
Pine Cove Operation and Nugget Pond Hydrometallurgical Gold Plant
New Found Gold also owns the Pine Cove operation, which includes a fully permitted mill and tailings facility, as well as the Nugget Pond hydrometallurgical gold plant. These assets provide the company with permitted processing infrastructure in Newfoundland and Labrador and support operational flexibility as Hammerdown ramps up and Queensway advances toward a phased production strategy.
Management Team
Keith Boyle — Chief Executive Officer and Director
Keith Boyle brings over 40 years of global mining experience, including extensive roles in operations, project development, technical studies, investor relations and budget management. Prior to joining New Found Gold, Mr. Boyle served as chief operating officer at Reunion Gold, where he fast-tracked the high-grade Oko West project in Guyana ahead of its acquisition for $870 million. He holds a Bachelor of Science in Mining Engineering and an MBA, and is a registered professional engineer in Ontario and Newfoundland & Labrador.
Paul Andre Huet – Chairman
Paul Andre Huet is currently the chief executive officer at Americas Gold and Silver and was chairman and CEO of Karora Resources from 2019 to 2024, until its acquisition by Westgold Resources for $1.3 billion. Prior to this he was president, CEO and Director of Klondex Mines from 2012 to 2018, until its acquisition by Hecla Mining Company for $700 million. Huet has a strong command of capital markets and has served in all levels of engineering and operations within publicly traded mining companies. He graduated with Honors from the Mining Engineering Technology program at Haileybury School of Mines in Ontario and successfully completed the Stanford Executive program at the Stanford School of business.
Melissa Render — President
Melissa Render is an exploration geologist with more than 18 years of experience focused on orogenic gold systems. She joined New Found Gold as a consultant in 2020, became vice-president, exploration in 2021, and was promoted to president in 2024. Ms. Render has led exploration programs worldwide across multiple gold belts and brings expertise in target generation, 3D modelling, data management and exploration program design. She holds a Bachelor of Science in Geological and Earth Sciences from Dalhousie University and is a registered professional geoscientist in Ontario and Newfoundland & Labrador.
Hashim Ahmed — Chief Financial Officer
Hashim Ahmed brings 25 years of finance, corporate strategy and capital markets experience to New Found Gold. He has held senior financial and executive positions across the mining industry, including most recently as executive vice-president and CFO at Mandalay Resources. His background spans royalty, mid-tier and senior gold companies. Mr. Ahmed obtained his CA/CPA designation with PricewaterhouseCoopers LLP.
Robert Assabgu — Chief Operating Officer
Robert Assabgu is an experienced mining engineer with expertise in project management, engineering and operations. His career includes leadership roles at Inco/Vale and Hudbay Minerals, where he oversaw multiple mines, concentrators and technical services teams. He also played a key role at Reunion Gold on the Oko West project ahead of the G Mining Ventures acquisition. Mr. Assabgui holds a Bachelor of Engineering degree in Mining and Mineral Engineering from McGill University in Montreal.
Fiona Childe — Vice-president, Communications and Corporate Development
Fiona Childe has more than 25 years of industry experience, beginning as an exploration geologist and later focusing on capital markets, corporate development and investor communications. Throughout her career, she has held senior management positions and consulted for mining companies, such as Mineros S.A. and Tau Capital Corp. with a primary focus on gold. Dr. Childe holds a Ph.D. in geology from the University of British Columbia and a professional geoscientist designation in Ontario.
Jared Saunders — Vice-president, Sustainability
Jared Saunders brings over two decades of experience in environmental science, regulatory compliance and stakeholder engagement. His background includes environmental leadership roles at Vale Newfoundland & Labrador and consulting project experience in environmental risk assessment and contaminated site management. Dr. Saunders holds a Ph.D. in Environmental Sciences degree from the Royal Military College in Kingston, Ontario. He sits on the Board of Directors for Mining Industry, NL as Director – Exploration.
Jelena Novikov Fried — General Counsel and Corporate Secretary
Jelena Novikov Fried has more than 20 years of legal experience in corporate, commercial and securities law. Prior to joining New Found Gold, she served as legal director, corporate and securities at lithium-ion battery recycler Li-Cycle, and practiced corporate and securities law with Cassels Brock & Blackwell LLP and Bennett Jones LLP. Ms. Novikov Fried holds a Juris Doctor from the University of British Columbia.
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Overview
Torrent Capital (TSXV:TORR) is a publicly traded investment company providing exposure to an actively managed growth portfolio of public and private investments.
Torrent Capital provides investors with access to a sector-agnostic, actively managed portfolio that blends long-term core holdings with income-generating strategies. Our diversified platform spans public equities, private ventures, and royalty investments. This approach is designed to deliver compounded NAV growth.
Portfolio Overview
Public Equities
Torrent’s core public equity holdings include the following:
Kneat (TSX:KSI) – A leader in SaaS solutions for digitising validation and quality processes in regulated industries, including life sciences. Torrent invested early, recognising Kneat’s scalable platform and its potential to transform compliance-heavy sectors globally.
Lemonade (NYSE:LMND) – An insurance technology company that leverages artificial intelligence to automate operations such as claims processing and policy issuance, disrupting the $2 trillion global insurance market.
SentinelOne (NYSE:S) – A global leader in AI-powered cybersecurity. Torrent invested in SentinelOne for its ability to disrupt traditional security solutions and scale rapidly as enterprises adopt automated threat detection and response.
Fortune Bay (TSXV:FOR) – A Canadian gold exploration company with promising assets in Saskatchewan and Mexico. Torrent’s investment reflects our belief in gold’s enduring role as a hedge against market volatility, coupled with Fortune Bay’s potential to unlock significant resource value through exploration success.
Sona Nanotech (CSE:SONA) – Innovator in nanotechnology with applications across healthcare and diagnostics. Torrent’s investment thesis is based on the potential for Sona’s unique gold nanorods to deliver breakthroughs in medical technology, particularly in diagnostics and cancer treatment.
ReeXploration (TSXV:REE) – A rare earth exploration company focused on the Eureka Project in Namibia. Torrent invested in ReeXploration for its strategic exposure to critical minerals essential to clean energy and advanced technologies.
Private Ventures
Torrent selectively invests in early-stage private ventures with high growth potential.
Holding:
OARO Technologies – A cybersecurity and digital identity company delivering advanced blockchain-powered authentication, digital ticketing, and secure credential solutions. Torrent invested in OARO for its ability to meet the growing global demand for secure, scalable identity management, positioning the company at the intersection of cybersecurity and blockchain adoption.
Royalty Investments
Torrent maintains selective exposure to royalty investments designed to generate potential long-term, recurring cash flows.
Key investment:
Argentia Capital – Argentia Capital is focused on the construction of port infrastructure, the provision of services and equity ownership in businesses that support aquaculture, renewable energy, and oil and gas sectors, as well as other port developments.
Company Highlights
- Proven Performance Across Market Cycles: NAV grew from ~$0.25 in 2017 to ~$0.87 as of November 30, 2025 (15.84 percent CAGR), Outperforming the S&P500 and TSX Small Cap Index, which increased at rates of 13.13 percent and 7.77 percent respectively.
- Diversified Investment Model: Combines public equities, private ventures and royalty investments to balance growth and stability through market cycles.
- Active Management and Transparency: Torrent publishes frequent NAV updates and portfolio disclosures, providing clarity that differentiates it from other investment companies.
- Proven Leadership: Led by CEO Wade Dawe and a team with over C$2 billion in deals completed, Torrent combines decades of entrepreneurial and capital markets experience across public and private companies.
- Strategic focus: Targeted exposure to key growth themes—including artificial intelligence, cybersecurity, and critical minerals—balancing innovation with defensive holdings to produce long-term compounding.
Management Team
Torrent’s leadership is aligned with shareholders and focused on long-term value creation.
Wade Dawe – Chief Executive Officer, Director
Wade Dawe is an Atlantic Canadian entrepreneur and skilled investor. Fiercely independent throughout the entirety of his career, he achieved early success internationally in the resource sector and went on to play a pivotal role in a number of companies as a financier and company founder.
Carl Sheppard – President & Chief Operating Officer, Director
Carl Sheppard is the current president and chief operating officer of Torrent Capital and is also the president and managing partner of Strategic Concepts, a business consulting company. For the past 30 years, he has provided consulting services to many of Canada’s leading resource companies and organizations. He has participated in numerous economic studies, strategic plans, cost/benefit reports and business plans targeted at the identification of development opportunities.
Eric Thompson – Chief Financial Officer
Eric Thompson has over ten years of accounting and assurance experience in both public practice and industry. Prior to assuming the CFO position, he served as the controller of Torrent Capital, contributing to enhanced financial reporting and treasury oversight.
Evan Dawe, CFA – Portfolio Manager – Public Equities
Evan Dawe is a Portfolio Manager at Torrent Capital, focused on identifying high-growth public equity opportunities across U.S. and Canadian markets. He brings a rigorous, fundamentals-driven approach with a strong emphasis on business quality, competitive positioning, and long-term value creation. Evan is a CFA charter holder and holds a Bachelor of Commerce degree from Queen’s University. Prior to Torrent Capital, he served as a Corporate Development Officer at Numus Capital, where he sourced venture capital deal flow and coordinated capital raises for early-stage companies.
Jim Megann – Director
Jim Megann is Managing Director of Numus Financial and serves as a Director of OARO Technologies. He has extensive experience in capital markets, corporate development, and strategic communications, and is the former Chair of NWest Energy.
Carl Hansen – Director
Carl Hansen is CEO of Cascada Silver Corp. and a geologist with more than 30 years of experience in exploration, mining, and public markets. He has led multiple successful exploration companies and has significant experience in corporate finance and capital formation.
Wayne Myles – Director
Wayne Myles is a legal advisor specializing in international mergers and acquisitions, corporate, and commercial law. He provides strategic legal guidance to Torrent’s management and board on governance and cross-border transaction structures.
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Warner Bros. Discovery on Wednesday rejected Paramount Skydance’s amended takeover offer, the latest in a series of rejections in David Ellison’s pursuit of the streaming and cable giant.
The media company said it remains committed to the $82.7 billion deal it reached in December to sell its streaming service, studio and HBO cable channel to Netflix.
‘The Board unanimously determined that the Paramount’s latest offer remains inferior to our merger agreement with Netflix across multiple key areas,’ Warner Bros. Discovery Chairman Samuel Di Piazza said in a statement.
‘Paramount’s offer continues to provide insufficient value,’ he continued.
In a letter to shareholders, Di Piazza wrote that Paramount Skydance’s offer carries ‘significant costs, risks and uncertainties as compared to the Netflix merger.’ The way the Paramount deal is structured creates a ‘lack of certainty’ about its finalization, he added.
Di Piazza adds in the letter that if the company were to agree to the Paramount merger and it failed to close, it would result in a ‘potentially considerable value destruction.’
‘What matters most right now is our focus as we start the year,’ Warner Bros. Discovery CEO David Zaslav said in a memo to employees seen by NBC News. ‘Our operating plans remain unchanged, and our priorities for 2026 are clear and intentional.’
Zaslav wrote that the ‘review was conducted with discipline and rigor, and was supported by independent financial and legal advisors.’
On Dec. 22, Paramount Skydance increased its offer for Warner Bros. Discovery with a personal guarantee from billionaire Larry Ellison, who was backing the financing for the deal. His son, David Ellison, is the CEO of Paramount Skydance.
However, that was not enough for Warner Bros. Discovery. That beefed-up offer followed Warner Bros. Discovery’s Dec. 17 public rejection of Paramount. It also preceded multiple private rejections before Paramount Skydance went public.
In a statement Thursday, Paramount said it remained committed to the offer that WBD has rejected twice. “WBD continues to raise issues in Paramount’s offer that we have already addressed, including flexibility in interim operations,” Paramount said.
At stake is the future of one of the most storied media empires in the United States.
The bidding by Paramount also comes amid a monumental shift in the media and streaming landscape at large. On Monday, Versant Media, the cable network spinoff from Comcast, began trading as an independent company. Shares have plunged more than 20% over the course of those two days. (Comcast is the parent company of NBCUniversal and NBC News.)
On CNBC, Di Piazza said it would be a mistake to compare Warner Bros. Discovery‘s cable networks to Versant. ‘Discovery Global is different, it has a lot more scale,’ he said.
Streaming companies such as Apple, Netflix and Amazon are also challenging traditional broadcasters such as Paramount-owned CBS for sports rights.
Warner Bros. Discovery controls properties ranging from CNN Worldwide and the Discovery Channel to HBO, as well as the Warner Bros. film studio and archive.
Despite the back and forth between Warner Bros. Discovery and Paramount, Netflix has so far proceeded with the deal it inked Dec. 5, under which the world’s largest streaming company would acquire a stake in WBD.
Warner’s cable networks would be spun out into a separate company as part of that deal. However, Paramount Skydance wants to buy everything Warner Bros. Discovery owns.
Paramount’s controlling shareholders, the Ellisons, have suggested they could obtain regulatory clearance more quickly and easily than Netflix.
In mid-2025, the Ellisons acquired Paramount with approval from the Trump administration. But that approval only came after CBS News agreed to pay $16 million to President Donald Trump’s future presidential library over an interview that “60 Minutes” had conducted with then-presidential candidate, Vice President Kamala Harris.
Netflix, for its part, has met with Trump at the White House over the deal. But Trump has said either bidder poses potential problems, in his view.
Netflix said in a statement that it ‘welcomed the Warner Bros. Discovery board of directors’ continued commitment to the merger agreement’ the two companies reached last year. ‘Netflix and Warner Bros. will bring together highly complementary strengths and a shared passion for storytelling,’ Netflix’s co-CEOs Ted Sarandos and Greg Peters said.
Di Piazza said on CNBC that the difference between Paramount’s offer and that of Netflix is that Warner Bros. and Netflix already ‘have a signed merger agreement’ that has ‘a clear path to closing.’ Di Piazza also said the Netflix deal offers ‘protections for our shareholders, if something stops the close, whatever that might be.’
Trump has said he will be personally involved in reviewing whichever merger proceeds.
Paramount did not immediately respond to a request for comment.
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The company that owns the iconic luxury retailer Saks Fifth Avenue filed for bankruptcy late Tuesday.
The move comes after Saks Global struggled with debt it took on to buy rival Neiman Marcus, lagging department store sales and a rising online market.
It’s one of the largest retail collapses since the Covid pandemic, and casts further doubt over the future of luxury fashion.
The retailer, which also owns Bergdorf Goodman, said early Wednesday its stores would remain open for now after it finalized a $1.75 billion financing package and appointed a new CEO.
The court process is meant to give the luxury retailer room to negotiate a debt restructuring with creditors or sell itself to a new owner to stave off liquidation. Failing that, the company may be forced to shutter.
Former Neiman Marcus CEO Geoffroy van Raemdonck will replace Richard Baker, who was the architect of the acquisition strategy that left Saks Global saddled with debt.
The company also appointed former Neiman Marcus executives Darcy Penick and Lana Todorovich as chief commercial officer and chief of global brand partnerships at Saks Global, respectively.
Saks Fifth Avenue, the retail arm of Saks Global, listed $1 billion to $10 billion in assets and liabilities, according to court documents filed in U.S. Bankruptcy Court in Houston.
A retailer long loved by the rich and famous, from Gary Cooper to Grace Kelly, Saks fell on hard times after the pandemic, as competition from online outlets rose, and brands started more frequently selling items through their own stores.
The original Saks Fifth Avenue store, known for displaying the likes of Chanel, Cucinelli and Burberry, was opened by retail pioneer Andrew Saks in 1867.
The new financing deal would provide an immediate cash infusion of $1 billion through a loan from an investor group, Saks Global said.
A host of luxury brands were among the unsecured creditors, led by Chanel and Gucci owner Kering at about $136 million and $60 million respectively, the court filing said. The world’s biggest luxury conglomerate, LVMH, was listed as an unsecured creditor at $26 million. In total, Saks Global estimated there were between 10,001 and 25,000 creditors.
In 2024, Baker had masterminded the takeover of Neiman Marcus by Canada’s Hudson’s Bay Co, which had owned Saks since 2013, and later spun off the U.S. luxury assets to create Saks Global, bringing together three names that have defined American high fashion for more than a century.
The deal was designed to create a luxury powerhouse, but it saddled Saks Global with debt at a time when global luxury sales were slowing, complicating an already difficult turnaround for CEO and veteran executive Marc Metrick.
Saks Global struggled last year to pay vendors, who began withholding inventory, disrupting the company’s supply chain and leaving it with insufficient stock.
The thinly stocked shelves may have driven shoppers away to rivals like Bloomingdale’s, which posted strong sales in 2025, compounding pressure on Saks Global.
“Rich people are still buying,” Morningstar analyst David Swartz said last month, “just not so much at Saks.”
Running out of cash, Saks Global last month sold the real estate of the Neiman Marcus Beverly Hills flagship store for an undisclosed amount. It had also been looking to sell a minority stake in exclusive department store Bergdorf Goodman to help cut debt.
On Dec. 30, it failed to make an interest payment of more than $100 million to bondholders.
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ROME — Italian fashion designer Valentino Garavani has died, his foundation said Monday.
Usually known only by his first name, Valentino was 93, and had retired in 2008.
Founder of the eponymous brand, Valentino scaled the heights of haute couture, created a business empire and introduced a new color to the fashion world, the ‘Valentino Red.’
‘Valentino Garavani passed away today at his Roman residence, surrounded by his loved ones,’ the foundation said on Instagram.
He will lie in state Wednesday and Thursday, while the funeral will take place in Rome on Friday, it added.
Valentino was ranked alongside Giorgio Armani and Karl Lagerfeld as the last of the great designers from an era before fashion became a global, highly commercial industry run as much by accountants and marketing executives as the couturiers.
Lagerfeld died in 2019, while Armani died in September.
Valentino was adored by generations of royals, first ladies and movie stars, from Jackie Kennedy Onassis to Julia Roberts and Queen Rania of Jordan, who swore the designer always made them look and feel their best.
“I know what women want,” he once remarked. “They want to be beautiful.”
Never one for edginess or statement dressing, Valentino made precious few fashion faux-pas throughout his nearly half-century-long career, which stretched from his early days in Rome in the 1960s through to his retirement in 2008.
His fail-safe designs made Valentino the king of the red carpet, the go-to man for A-listers’ awards ceremony needs.
His sumptuous gowns have graced countless Academy Awards, notably in 2001, when Roberts wore a vintage black and white column to accept her best actress statue. Cate Blanchett also wore Valentino — a one-shouldered number in butter-yellow silk — when she won the Oscar for best supporting actress in 2004.
Valentino was also behind the long-sleeved lace dress Jacqueline Kennedy wore for her wedding to Greek shipping magnate Aristotle Onassis in 1968. Kennedy and Valentino were close friends for decades, and for a spell, the one-time U.S. first lady wore almost exclusively Valentino.
He was also close to Diana, Princess of Wales, who often donned his sumptuous gowns.
Beyond his signature orange-tinged shade of red, other Valentino trademarks included bows, ruffles, lace and embroidery; in short, feminine, flirty embellishments that added to the dresses’ beauty and hence to that of the wearers.
Perpetually tanned and always impeccably dressed, Valentino shared the lifestyle of his jet-set patrons. In addition to his 152-foot yacht and an art collection including works by Picasso and Miro, the couturier owned a 17th-century chateau near Paris with a garden said to boast more than a million roses.
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Sociedad Quimica y Minera (SQM) (NYSE:SQM) and Codelco have finalized their long-awaited partnership, forming a new joint venture that will oversee lithium production in Chile’s Salar de Atacama through 2060.
SQM announced on Saturday (December 27) that it has completed its strategic partnership with state-owned miner Codelco through the merger by absorption of Codelco subsidiary Minera Tarar into SQM Salar.
Following the transaction, SQM Salar has been renamed Nova Andino Litio, the new vehicle that will consolidate lithium exploration, production, commercialization and related community and environmental initiatives in the Atacama.
The merger was carried out under the terms of a partnership agreement that was signed in May 2024.
While the transaction has been completed, it remains subject to a resolutory condition tied to a pending Supreme Court decision on an appeal filed by Inversiones TLC. The appeal challenges regulatory approvals granted earlier this year, and Inversiones TLC is a subsidiary of China’s Tianqi Lithium (SZSE:002466,HKEX:9696,OTC Pink:TQLCF).
The appeal comes after a November ruling by the Santiago Court of Appeals that rejected a claim of illegality against an exemption resolution issued by Chile’s Financial Market Commission.
Despite the unresolved litigation, the economic framework of the partnership has already taken effect. SQM confirmed that the preferences and economic rights attached to the Series A shares held by Codelco and the Series B shares held by SQM became effective on January 1, 2025, including the dividend distribution methodology set out in the agreement.
SQM and Nova Andino Litio are currently determining dividend allocations and other accounting effects, which will be reflected in their respective 2025 financial statements.
The new company preserves contractual continuity with Chilean development agency Corfo, both under existing agreements and those that will govern operations from 2031 onward.
SQM Chief Executive Ricardo Ramos also said the joint venture provides long-term stability for lithium operations in Atacama, while raising operational and sustainability standards.
“This joint venture allows us to project the development of the Atacama Salt Flat and continue advancing with standards of operational excellence, sustainability and shared value creation, combining complementary capabilities for the benefit of Chile and global markets,” Ramos said in a press release issued by Codelco.
As part of the agreement, SQM has also transferred all of its mining concessions in the Maricunga salt flat to Codelco.
Nova Andino Litio’s board will be evenly split between the partners, with three representatives from each company. Its first board meeting is scheduled for Monday (December 29).
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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LaFleur Minerals Inc. (CSE: LFLR,OTC:LFLRF) (FSE: 3WK0) (‘LaFleur Minerals’ or the ‘Company’ or ‘Issuer’) announces that, due to additional demand to participate in the LIFE Offering, the Company announces a non-brokered hard dollar private placement offering of up to 2,000,000 units of the Company (the ‘Units’) at a price of $0.50 per Unit, for gross proceeds of up to $1,000,000 (the ‘Hard Dollar Offering’). Each Unit will consist of one (1) common share in the capital of the Company (each a ‘Common Share’) and one (1) Common Share purchase warrant (a ‘Warrant’) granting the holder the right to purchase one (1) additional Common Share of the Company (a ‘Warrant Share’) at a price of $0.75 at any time on or before 36 months from the Closing Date (defined below).
The closing of the Hard Dollar Offering is expected to occur on or about January 5, 2026 (the ‘Closing Date‘), or such other earlier or later date as the Company may determine. The securities offered under the Hard Dollar Offering will be subject to a statutory hold period in Canada expiring four (4) months and one day from the closing of the Offering, in accordance with applicable Canadian securities laws.
The gross proceeds from the Hard Dollar Offering will be used for the commissioning and restart of gold production operations at the Company’s wholly-owned Beacon Gold Mine and Mill, as well as work at the Company’s Swanson Gold Project in Val d’Or, Québec, as well as for general working capital purposes.
The Company has agreed to pay qualified finders and brokers a cash commission of 7.0% of the aggregate gross proceeds of the Hard Dollar Offering and such number of broker warrants (the ‘Broker Warrants‘) as is equal to 7.0% of the number of Units sold under the Hard Dollar Offering. Each Broker Warrant will entitle the holder to purchase one Common Share at an exercise price equal to the Offering Price for a period of 24 months following the Closing Date.
The Company continues to progress in the closing of its previously announced non-brokered private placement LIFE Offering and Flow-Through Offering further to its news releases dated December 15, 2025, and December 16, 2025.
This news release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act’), and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent an exemption from registration under the U.S. Securities Act and applicable U.S. state securities laws. ‘United States’ and ‘U.S. person’ are as defined in Regulation S under the U.S Securities Act.
About LaFleur Minerals Inc.
LaFleur Minerals Inc. (CSE: LFLR,OTC:LFLRF) (FSE: 3WK0) is focused on the development of district-scale gold projects in the Abitibi Gold Belt near Val-d’Or, Québec. Our mission is to advance mining projects with a laser focus on our resource-stage Swanson Gold Deposit and the Beacon Gold Mill, which have significant potential to deliver long-term value. The Swanson Gold Project is approximately 18,304 hectares (183 km2) in size and includes several prospects rich in gold and critical metals previously held by Monarch Mining, Abcourt Mines, and Globex Mining. LaFleur has recently consolidated a large land package along a major structural break that hosts the Swanson, Bartec, and Jolin gold deposits and several other showings which make up the Swanson Gold Project. The Swanson Gold Project is easily accessible by road allowing direct access to several nearby gold mills, further enhancing its development potential. Lafleur Mineral’s fully refurbished and permitted Beacon Gold Mill is capable of processing over 750 tonnes per day and is being considered for processing mineralized material at Swanson and for custom milling operations for other nearby gold projects.
ON BEHALF OF LaFleur Minerals INC.
Paul Ténière, M.Sc., P.Geo.
Chief Executive Officer
E: info@lafleurminerals.com
LaFleur Minerals Inc.
1500-1055 West Georgia Street
Vancouver, BC V6E 4N7
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding ‘Forward-Looking’ Information
This news release includes certain statements that may be deemed ‘forward-looking statements’. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Forward-looking statements in this news release include, without limitation, statements related to the anticipated use of proceeds from the LIFE Offering. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/279190
News Provided by Newsfile via QuoteMedia
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