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FINWIRES

SATO Technologies Completes Debt Settlement

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SATO Technologies (SATO.V) completed its debt settlement under which it issued 250,000 units at a deemed price of CA$0.10 each, for a deemed value of CA$25,000, it said after markets closed Tuesday.

The debt settlement, which remains subject to the final approval of the TSX Venture Exchange, was completed in full and final settlement of indebtedness owed to a certain creditor as of Aug. 7, under a consulting agreement, said the company.

Each unit is made up of a share and one-half of a two-year warrant, with each whole warrant entitling the holder to buy an additional share at an exercise price of CA$0.20 per share, subject to acceleration in accordance with its terms, added the company.

What else is happening in Mining & Metals?

Mining & Metals

PMET Completes Phase 2 Caesium Testwork Program at Shaakichiuwaanaan Project

PMET Resources (PMET.TO) after trade Tuesday reported results from a phase 2 bench-scale test program conducted by Koch Technology Solutions on pollucite concentrate from its Shaakichiuwaanaan Project, which hosts a major caesium resource.The company said it is exploring ways to go beyond producing pollucite concentrate by converting it into "value-added" caesium chemicals through partnerships with chemical specialists.Koch's proprietary process could provide a potential pathway to extract caesium and produce marketable chemical products, helping PMET capture more value from its resource, the company added."Follow-up testwork program is now being designed and is anticipated to be expanded to include a complete bench-scale proof-of-concept with production of marketable samples," the company said.PMET shares closed up 5.9% at CA$4.69 on the Toronto Stock Exchange.

$PMET.TO
Mining & Metals

Xanadu Appoints Tara Deakin as Chief People Officer

Xanadu (XNDU.TO) has appointed Tara Deakin as chief people officer, the company said after trade on Tuesday.Deakin was most recently chief people officer and executive vice president at Spin Master (TOY.TO). She takes over from Rebecca Laramee, who will continue as senior vice president of human resources of the company, a statement said.Shares in the software-solutions and quantum computing company closed down 21.2% to CA$8.16 on the Toronto Stock Exchange.

$XNDU.TO
Mining & Metals

Tourmaline to Sell CA$287.5 Million of Topaz Shares, Raises Quarterly Dividend 5%

Tourmaline Oil (TOU.TO) and Topaz Energy (TPZ.TO) said Tuesday that Tourmaline agreed to sell 10 million common shares of Topaz on a bought-deal basis at CA$28.75 per share for gross proceeds of about CA$287.5 million.The offering includes an option for the purchase of up to an additional 15% of the shares sold to cover over-allotments and for market stabilization.Topaz will not receive any proceeds from the offering.Tourmaline currently owns about 19.9 million Topaz shares, representing approximately 12.9% of the company's outstanding shares. Following the offering, Tourmaline will hold about 9.9 million Topaz shares, representing approximately 6.4% of Topaz, or 5.4% if the over-allotment option is exercised in full.Tourmaline intends to use the net proceeds to repurchase its common shares under the normal course issuer bid. Its board has also approved an increase in the quarterly base dividend effective in the fourth quarter of 2026 from CA$0.50/share to CA$0.525/share, representing a 5% increase from the current base dividend of CA$0.50/share.

$TOU.TO$TPZ.TO