Prime Trust’s Banq Files For Bankruptcy After Former Officers Steal $17.5 Million
In a major development within the cryptocurrency industry, Banq, a subsidiary of the embattled crypto custodian Prime Trust, has filed for bankruptcy in a U.S. bankruptcy court located in the district of Nevada. The filing highlights approximately $17.72 million in assets against $5.4 million in liabilities. This bankruptcy filing follows Prime Trust’s ongoing efforts to […]
Ford Invests $660 Million In Argentina To Build Its New Vehicle
Making the announcement from Ford (NYSE: F) plant in General Pacheco, Buenos Aires, Argentina’s Minister of Economy Sergio Massa revealed a $660 million investment from the carmaker in producing the new Ranger in Argentina. This move is expected to result in 70% of the vehicle’s production being allocated for export, bolstering the country’s international trade […]
This 4-Week-Old Startup Just Raised $113M to Challenge OpenAI
Mistral AI, a Paris-based startup founded by former Google’s DeepMind and Meta employees, has secured $113 million in seed funding within just four weeks of its establishment. This funding round, led by Lightspeed Venture Partners, attracted a diverse range of investors from France, Germany, Italy, Belgium, and the UK. The newly-minted AI firm aims to […]
New Poll Finds Majority of Canadians Crave Political Change, Conservatives Gain Over Liberals
Canadian politics is witnessing a widespread desire for change, according to a recent survey conducted by Abacus Data. The survey, conducted from June 6 to 11, 2023, interviewed 2,000 adults across Canada, with an oversampling of Ontario. The survey aimed to understand both the desire for change and the level of comfort with available alternatives. […]
Golden Cariboo Intercepts 8.3 Metres of Semi Massive Sulphides Under Drill Program
The first drill hole has been completed by Golden Cariboo (TSXV: GCC) under a 5,000 metre drill program being conducted at its Quesnelle Gold Quartz Property in British Columbia.
Canaccord Genuity Sees Management Buyout Offer Expire
The management takeover of Canaccord Genuity (TSX: CF) appears to now be off the table, following the expiration of the offer to acquire all of outstanding shares of the company. The management group had previously offered to buyout the company at a price of $11.25 per share, or C$1.1 billion, with the offer lead by […]
Aurora Cannabis Shares Drop On Fiscal Q3 2023 Financials
Aurora Cannabis (NASDAQ: ACB) announced its financial results for the third quarter of fiscal year 2023, reporting quarterly revenue of $64.0 million, higher than the $61.7 million in the previous quarter and down from $50.4 million in the same quarter last year. The cannabis firm still recorded a net loss of $87 million, compared to […]
Surge Battery Metals Said To Expand Planned Drill Program
Surge Battery Metals (TSXV: NILI) is reporting this morning that it has expanded its planned drill program for the Nevada North Lithium Project. The expansion follows approvals from the Nevada Bureau of Land Management. The expanded program is set to drill test as many as eight targets over an area that is said to measure […]
Instant Pot’s Parent Company Cooks Up a Recipe for Bankruptcy Amidst Sales Slump
Instant Brands, the maker of the popular Instant Pot pressure cooker and other kitchen appliances, filed for chapter 11 bankruptcy on Monday. The Illinois-based company has struggled with declining sales and financial turbulence exacerbated by consumers’ reduced discretionary spending amidst inflation. The decision to file for bankruptcy came after a prolonged period of economic strain, […]
GM and Samsung SDI Partner for $3 Billion EV Battery Plant in Indiana
General Motors (NYSE: GM) and Samsung SDI have announced plans to construct a new EV battery cell plant in New Carlisle, Indiana, with operations set to begin in 2026. Back in April, the companies revealed intentions to invest $3 billion in a US-based joint venture for an EV battery manufacturing plant but did not specify […]