Brightstar Resources (BTR:AU) has announced RIU Conference Presentation
Download the PDF here.
Brightstar Resources (BTR:AU) has announced RIU Conference Presentation
Download the PDF here.
Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (‘Riverside’ or the ‘Company’), is pleased to announce that further to its press release dated September 6, 2024, Riverside’s wholly-owned subsidiary, RRM Exploracion, S.A.P.I. DE C.V. (the ‘Vendor’) has entered into a definitive option agreement (the ‘Option Agreement’) with Questcorp Mining Inc. (‘Questcorp’) dated May 5, 2025, for the 2,520.2 hectare La Union carbonate replacement gold- polymetallic project (the ‘Project’ or ‘La Union’) located in Sonora, Mexico (the ‘Transaction’).
‘We are thrilled to finalize this agreement for the La Union Project, which is a strong asset in Riverside’s portfolio. Securing up to C$5,500,000 in exploration funding from Questcorp is an excellent step forward in advancing this larger Carbonate Replacement Deposit (‘CRD‘) project,’ said John-Mark Staude, CEO of Riverside Resources. ‘Riverside is pleased to have the updated NI 43-101 Technical Report completed and we see an active exploration program launching in the coming weeks with Riverside as the Operator of the exploration program. Riverside is expected to become a shareholder of Questcorp with an initial 9.9% equity interest, subject to final approval by the Canadian Securities Exchange or confirmation that such approval is not required. The first-year work program of C$1,000,000 in exploration expenditures will launch the first round of exploration at the project.’
The La Union Project
The Project is summarized on the Riverside website and is a project that Riverside acquired and further consolidated additional inlier mineral claims. The Project initially identified from Riverside’s work in the western Sonora gold belt through work with AngloGold Ashanti Limited, Centerra Gold Inc., and Hochshild Mining Plc, among others as partners and funding relationships for gold exploration. Initial work by members of the Riverside team, drawing on more than two decades of geological compilation and analysis, identified this region as highly prospective. At the Project, historical mining by the Penoles Mining Company focused on chimney and manto replacement bodies within the upper oxide zones. As a result, the underlying sulfide zones present immediate drill targets for further exploration.
Riverside has spent the past five years consolidating this highly prospective land package, which totals over 22 square kilometers. The Project features favorable limestone host rocks, an extensive alteration footprint, and multiple small-scale historical workings, providing more than eight drill-ready target areas. Key immediate targets include the central Union Mine and the nearby Famosa Mine. With drive-up access, private ranch surface rights, and strong geologic similarities to other major CRDs in Arizona and eastern Mexico, La Union is well positioned for near-term exploration success targeting both oxide and deeper sulfide mineralization.
The Option Agreement
In accordance with the terms of the Transaction, Questcorp can acquire a one-hundred percent (100%) interest in the Project in consideration for completion of a series of cash payments totaling $100,000 CAD, making staged issuances of common shares of Questcorp totaling 19.9%, and incurring $5,500,000 CAD of exploration expenditures on the Project as outlined immediately below:
Deadline | Cash Payment | Share Issuance | Exploration Expenditures |
Within two (2) business days of the date of the Option Agreement | $25,000 | N/A | N/A |
On the Effective Date(1) | N/A | 9.9%(2) | N/A |
On or before the first anniversary of the Effective Date | N/A | 14.9%(2)(3) | $1,000,000 |
On or before the second anniversary of the Effective Date | $25,000 | 19.9%(2)(3) | $1,250,000 |
On or before the third anniversary of the Effective Date | $25,000 | 19.9%(2)(3) | $1,500,000 |
On or before the fourth anniversary of the Effective Date | $25,000 | 19.9%(2)(3) | $1,750,000 |
Total | $100,000 | 19.9%(2)(3) | $5,500,000 |
Notes:
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During the term of the Option Agreement, Riverside, through the Vendor, will remain the program operator for the Project using its local team based in Hermosillo, Sonora. Following exercise of the option under the Option Agreement, Questcorp will grant Riverside a two-and-one half percent (2.5%) net smelter return royalty on commercial production from the Project.
Figure 1. Geologic map with the tenure of the Union internal concession shown in pink. Manto and chimney type CRD targets are shown as red polygons. Riverside now controls all mineral tenures on this map.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/250896_df59d6431499eba6_002full.jpg
Figure 2. Cross section looking west with proposed drill sites and drillhole traces. Assays from Riverside’s sampling of rock dump materials from the two mine areas are labeled in black. Red areas are interpreted as manto and chimney target bodies that are now well defined and drill ready. Assays shown on figures 1 and 2 have been previously released and disclosed as summarized below the geochemical QA/QC.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/250896_df59d6431499eba6_003full.jpg
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the Project was reviewed and approved by Freeman Smith, P.Geo, VP Exploration, a non-independent qualified person to Riverside Resources Inc., who is responsible for ensuring that the information provided in this news release is accurate and who acts as a ‘qualified person’ under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Rock samples from previous exploration programs discussed above at the Project were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis using 4-acid digestion methods. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standards were randomly inserted into the sample stream prior to being sent to the laboratory.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.
ON BEHALF OF Riverside Resources Inc.
‘John-Mark Staude’
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude President, CEO Riverside Resources Inc. info@rivres.com Phone: (778) 327-6671 Fax: (778) 327-6675 Web: www.rivres.com |
Eric Negraeff Corporate Communications Riverside Resources Inc. Eric@rivres.com Phone: (778) 327-6671 TF: (877) RIV-RES1 Web: www.rivres.com |
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., ‘expect’,’ estimates’, ‘intends’, ‘anticipates’, ‘believes’, ‘plans’). Such information involves known and unknown risks — including the risk that the Transaction will not be completed as contemplates, or at all, availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250896
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Footwear giant Skechers has agreed to be acquired by private equity firm 3G Capital for $63 per share, ending its nearly three-decade run as a public company, the retailer announced Monday.
The price 3G Capital agreed to pay represents a 30% premium to Skechers’ current valuation on the public markets, which is in line with similar takeover deals. Shares of Skechers soared more than 25% after the transaction was announced.
“With a proven track-record, Skechers is entering its next chapter in partnership with the global investment firm 3G Capital,” Skechers’ CEO, Robert Greenberg, said in a news release.
“Given their remarkable history of facilitating the success of some of the most iconic global consumer businesses, we believe this partnership will support our talented team as they execute their expertise to meet the needs of our consumers and customers while enabling the Company’s long-term growth,” he said.
The transaction comes at a difficult time for the retail industry and in particular, the footwear sector, which relies on discretionary spending and overseas supply chains that are now in the crosshairs of President Donald Trump’s trade war.
Last week Skechers signed onto a letter penned by the Footwear Distributors and Retailers of America trade group asking for an exemption from Trump’s tariffs.
And, a little over a week ago, Skechers withdrew its full-year 2025 guidance “due to macroeconomic uncertainty stemming from global trade policies” as companies brace for a drop in consumer spending that will disproportionately impact the footwear and apparel sectors.
Skechers declined to say how much of its supply chain is based in China, which is currently facing 145% tariffs, but cautioned that two-thirds of its business is outside of the U.S. and therefore won’t see as much of an impact.
A source close to the deal who spoke on the condition of anonymity to discuss nonpublic details said the trade environment didn’t force Skechers into a deal and that 3G Capital had been interested in acquiring the company for years.
Tariffs do present some uncertainty in the short term, but 3G Capital believes the long-term outlook of Skechers’ business remains attractive and is well positioned for growth, the person said.
Skechers is the third-largest footwear company in the world behind Nike and Adidas.
Greenberg will stay on as Skechers’ CEO and continue enacting the company’s strategy after the acquisition is completed.
U.S. pharmacy chain Rite Aid on Monday filed for bankruptcy protection for the second time in as many years, according to a court filing.
Pharmacy chains, such as Rite Aid, Walgreens and CVS, have been under pressure as falling drug margins and competition from Walmart and Amazon have led to a closure of hundreds of stores.
Walgreens, facing significant losses, recently agreed to a $10 billion buyout by private equity firm Sycamore Partners — a dramatic decline from its $100 billion valuation a decade ago, underscoring the severe challenges facing traditional pharmacy retailers.
Rite Aid used its previous bankruptcy in 2023 to cut $2 billion in debt, close hundreds of stores, sell its pharmacy benefit company, Elixir, and negotiate settlements with its lenders, drug distribution partner McKesson and other creditors.
The previous bankruptcy also resolved hundreds of lawsuits alleging that Rite Aid ignored red flags when filling suspicious prescriptions for addictive opioid pain drugs.
But despite those settlements, Rite Aid still had $2.5 billion in debt when it emerged from bankruptcy as a private company owned by its lenders in 2024.
According to Monday’s court filing, the company has estimated assets and liabilities in the range of $1 billion to $10 billion.
The company was unable to secure additional capital from lenders, which it needed to continue operating the business, Bloomberg News reported earlier in the day, citing an internal letter from CEO Matthew Schroeder to the company’s employees.
The letter also states that the drug store chain intends to reduce its workforce at its corporate offices in Pennsylvania.
Rite Aid operated about 2,000 pharmacies in 2023 but now has only 1,250 stores across the U.S., with recent closures significantly reducing its presence in markets such as Ohio and Michigan.
Rwanda is in the early stages of talks to receive immigrants deported from the United States, Rwandan Foreign Minister Olivier Nduhungirehe said on television late on Sunday.
Rwanda has in recent years positioned itself as a destination country for migrants that Western countries would like to remove, despite concerns by rights groups that Kigali does not respect some of the most fundamental human rights.
Kigali signed an agreement with Britain in 2022 to take in thousands of asylum seekers from the United Kingdom before the deal was scrapped last year by then newly-elected Prime Minister Keir Starmer.
“We are in discussions with the United States,” Nduhungirehe said in an interview with the state broadcaster Rwanda TV.
“It has not yet reached a stage where we can say exactly how things will proceed, but the talks are ongoing… still in the early stages.”
US President Donald Trump launched a sweeping crackdown on immigration and attempted to freeze the US refugee resettlement program after the start of his second term in January.
His administration has pushed aggressively to deport immigrants who are in the country illegally and other non-citizens.
The United Nations refugee agency (UNHCR) warned there was a risk some migrants sent to Rwanda could be returned to countries from which they had fled. Kigali denied the allegations and accused UNHCR of lying.
Last month the US deported to Rwanda a resettled Iraqi refugee whom it had long tried to extradite in response to Iraqi government claims that he worked for the Islamic State, according to a US official and an internal email.
The Supreme Court in April temporarily blocked Trump’s administration – which has invoked a rarely used wartime law – from deporting a group of Venezuelan migrants it accused of being gang members.
Kenya’s President William Ruto fended off a shoe thrown at him during a speech about the cost of living which has been a source of public anger, videos shared on social media showed.
Ruto has been compelled to abandon tax hikes and invite opposition members into cabinet, but discontent remains high in the East African nation.
On Sunday at the rally in Migori county in western Kenya, Ruto blocked the flying footwear with his arm and did not appear to be injured, according to three videos.
“We have said we are reducing the price of fertilizer, true or false?” he said as the shoe bounced off him, kicking up a small cloud of dust.
Interior Minister Kipchumba Murkomen said police had arrested three people, The Star newspaper reported.
Then US President George W. Bush famously had a shoe thrown at him by an Iraqi journalist in 2008 in protest at the chaos following the US-led invasion.
Britain is marking the 80th anniversary of Victory in Europe (VE) Day this week with four days of commemorations honoring the end of World War II on the continent, as well as those who served and perished during the conflict.
The official surrender of Nazi Germany to Allied forces took place on May 8, 1945, ending a brutal war that claimed tens of millions of lived and reshaped global history.
London’s commemorations began Monday when Big Ben, the clock and bell in Elizabeth Tower at the Houses of Parliament, struck at midday and extracts from wartime leader Winston Churchill’s VE Day speech echoed across the capital.
A military parade, featuring members of the United Kingdom’s armed forces, marched from parliament to Buckingham Palace. It was watched by King Charles, Queen Camilla, the Prince and Princess of Wales, and their three children, Prince George, Princess Charlotte and Prince Louis. More events, including a flypast of historic aircraft, are planned for Monday afternoon, a public holiday in the United Kingdom.
Members of the British royal family attending Monday’s procession wore uniforms chosen to reflect both personal military ties and historical resonance. King Charles wore a Naval No.1 uniform with no medals or decorations – mirroring the attire of his grandfather, King George VI, who stood on the Buckingham Palace balcony on VE Day in 1945. Queen Camilla appeared beside him in a sapphire blue wool crepe dress and coat, adorned with a 12th Royal Lancers Brooch – honoring her late father’s regiment.
Events will continue across the UK this week. On Tuesday, 30,000 ceramic poppies will be installed at the Tower of London to remember those killed in conflict. Elsewhere, historic landmarks across the UK will be illuminated in the national colors of red, white and blue.
VE Day itself, Thursday, will include a national two-minute silence at midday, a service at Westminster Abbey attended by the King and Queen, and a large-scale concert at Horse Guards Palace. Later, 2,500 beacons will be lit across the UK.
Eighty years ago, the nation erupted in joy as news of the surrender broke. In London, the late Queen Elizabeth, then a 19-year-old princess, and her younger sister Margaret famously slipped out of Buckingham Palace to join the revelers.
But this year, the commemorative mood comes amid renewed tensions within the royal family. Just days ago, Prince Harry revealed that his father, King Charles, no longer speaks to him and that he cannot imagine bringing his family back to the UK after losing a court case over his security arrangements on Friday.
One of them often dons a Trump-style red baseball cap and wants to make his country “great again.” The other visited the US president at the White House to drum up support. Both could soon become presidents of major allies on Ukraine’s border.
In Romania, the hard-right euroskeptic George Simion convincingly won the first round of the presidential re-run on Sunday, making him a strong favorite to win the final round on May 18.
On that same day, Poland will also hold the first round of a presidential ballot, where both the nationalist candidate Karol Nawrocki and the far-right upstart Sławomir Mentzen have been making gains. If no candidate wins more than 50% of votes, a second round will be held two weeks later.
Although victory for Simion is much more likely than for Poland’s right-wing candidates, Europe is now facing the prospect that two of Ukraine’s neighbors could by next month be led by presidents who are hostile towards Brussels and aping a MAGA-style politics.
“Congratulations,” Nawrocki said to Simion on Monday in a message of support on X.
Also hailing Simion’s first-round victory, Mentzen jokingly asked if Romanian authorities “will cancel the elections again.” This was a reference to the decision last year by Romania’s constitutional court to annul the first-round victory of Calin Georgescu, a Kremlin-friendly ultranationalist, after intelligence services pointed to possible Russian interference in his TikTok-fueled campaign, which he and Moscow denied. Georgescu was later banned from May’s re-run, after prosecutors charged him with establishing a fascist group and other crimes.
The court’s decision to cancel the election had little precedent, outraged many in the country and caught the attention of officials in the Trump administration. In his blistering speech in Munich in February, US Vice President JD Vance singled out Romania as the grossest case of what he called Europe’s “threat from within.”
Sunday’s first-round results showed the court’s decision did little to quell Romania’s simmering nationalist fervor and may even have inflamed it. Whereas Georgescu secured 22% of votes in November, Simion won a resounding 41% in May’s do-over, far exceeding polling expectations. His nearest contender, Nicusor Dan, the centrist mayor of the capital Bucharest, came second at around 21%.
Many in Brussels will be hoping that the pro-European Union voters will rally around Dan in the second round, shutting the far-right out of power, as happened in France in its parliamentary election last year. But analysts say divisions among the mainstream parties mean Simion is likely to win the May 18 second round.
Although Romania, like Poland, has a parliamentary system, the presidents of both countries are commanders of the armed forces and have significant sway over military spending and foreign policy.
While not as brazen as Georgescu, Simion shares many of his views and even cast his ballot alongside him on Sunday. Simion has long voiced his opposition to military aid for Ukraine, and last year was banned by Kyiv from entering the country, citing his “systematic anti-Ukrainian activities.” He is also barred from visiting neighboring Moldova. Simion has claimed he is not anti-Ukraine or pro-Russia, but simply “pro-Romanian.”
In Poland, the picture is less clear-cut. With President Andrzej Duda of the conservative Law and Justice Party (PiS) unable to run for a third term, Karol Nawrocki – currently head of Poland’s Institute of National Remembrance – is attempting to pick up his mantle. Meanwhile, Sławomir Mentzen, a leader of the far-right Confederation Liberty and Independence alliance, has climbed up the polls – but is deemed unlikely to reach the second round.
Although technically running as an independent, Nawrocki has the backing of PiS, which became increasingly authoritarian over its eight years in power, before its defeat in a 2023 parliamentary election by an alliance led by Donald Tusk’s liberal Civic Platform party.
Nawrocki met Trump at the White House last week to mark the National Day of Prayer. “President Trump said, ‘you will win,’” Nawrocki told private broadcaster TV Republika after his reception in the Oval Office.
Nawrocki has accused Volodymyr Zelensky of behaving “indecently” towards his allies, echoing criticism by Vance that the Ukrainian president is not sufficiently “grateful” for the support his country receives. In the fallout from Zelensky’s Oval Office meeting with Trump and Vance, Tusk – prime minister since 2023 – said it is “becoming clear who in Poland wants to pursue Russian interests.”
Currently polling at around 25%, Nawrocki is trailing Rafał Trzaskowski, the centrist mayor of Warsaw representing Tusk’s Civic Platform party, who is leading at around 33%.
But Simion’s overperforming polling expectations will provide encouragement to Poland’s conservative candidates.
Mentzen said Simion’s first-round victory showed that “Romanians again want to choose differently than the EU elites would like.” Further to the right than Nawrocki, Mentzen has also tacked closely to Trump, calling for a MAGA-style “revolution of common sense” in Poland.