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RESAAS Services Swings to First-quarter Profit, Higher Revenue
RESAAS Services (RSS.V) after trade Thursday swung to a first-quarter profit on higher revenue.The company earned $8,627 in the quarter ended March 31, compared with a loss of $69,045 a year ago. RESAAS said that this is the second straight profitable quarter, and the gain was mainly driven by higher revenue and lower stock-based compensation, partly offset by increased research and development spending.Revenue rose 98% year-over-year to $302,470 from $152,681 in the year-ago quarter. "This growth was driven by an increase in recurring SaaS subscription revenue, promotional subscription revenue, CODE revenue, and enterprise referral platform revenue, including non-cash consideration measured at fair value in accordance with IFRS 15," the company said.Looking ahead, the company said key growth drivers for 2026 and beyond include continued onboarding of new enterprise customers and increased use of existing referral networks through partners such as Savills and Chestertons, along with other global clients.
Elcora Advanced Materials Agrees to Buy South Africa Gold Property for US$2 Million, Shares
Elcora Advanced Materials (ERA.V) said Thursday reached a binding range of terms (BROT) agreement with Elmaic Trading CC for the proposed acquisition of the Eldorado gold property and associated surface tailings stockpile in South Africa.The company said the proposed transaction contemplates the acquisition of 100% of the issued and outstanding shares of the vendor following its conversion to a private company, together with all assets, rights and interests related to the project.Elcora said completing of the transaction would mark its direct entry into gold asset ownership in South Africa.Under the terms of the BROT, the consideration for the proposed acquisition is US$2 million in cash and 20-million Elcora shares, subject to TSX Venture Exchange approval and the satisfaction of applicable closing conditions."The signing of this binding agreement to acquire the Eldorado mine marks a transformational moment for Elcora. We are entering a world-class gold district - the Barberton Greenstone Belt, home to operations like Fairview and Lily - through a disciplined, self-funding transaction structure that we believe is highly aligned with shareholder value creation," chief executive Troy Grant said.The transfer of ownership interests in the vendor to Elcora is expected to occur in two tranches, with 50% of the vendor's membership interests or shares to be transferred upon satisfaction of the applicable initial purchase price conditions, and the remaining 50% to be transferred upon satisfaction of the remaining purchase price obligations..According to the statement, in addition to the purchase consideration, and subject to the financing condition, Elcora is to make available a minimum of US$1.3 million, separate from the purchase price and any initial shareholder payments, for capital and operating expenditures required to advance the project.The parties expect to close the transaction by July 15.Elcora shares closed unchanged at $0.25 on Wednesday.