VANCOUVER, BC, June 06, 2025 (GLOBE NEWSWIRE) — Eat & Beyond Global Holdings Inc. (CSE: EATS) (OTCPK: EATBF) (FSE: 988) (“Eat & Beyond” or the “Company”), is pleased to announce that that globally recognized entrepreneur, investor, and citizen journalist Mario Nawfal has joined the Company as a Strategic Advisor.
Mr. Nawfal is a force in modern media and Web3 innovation. As the founder of The Roundtable, X/Twitter’s most influential audio show, he has hosted global icons including Elon Musk, Marc Andreessen, Mark Cuban, CZ, Alexander Lukashenko, Sergei Lavrov, Sam Bankman-Fried, Andrew Tate, Hunter Biden, Bill Ackman, Matt Walsh, Michael Saylor, Michael Bay, Vinod Khosla, and Imran Khan.
Mario is also a seasoned entrepreneur with multiple successful exits, and a respected venture capitalist who has backed breakout companies in AI, gaming, blockchain, and digital media.
He is the founder of Citizen Journalism Network, its subsidiary, IBC Group, and its accelerator, CJNA, which is building Web3’s first fully integrated ecosystem, combining a media empire and venture capital firm with a startup accelerator and launchpad for Web3 projects. The company is building an AI-powered centralized exchange (CEX), deal desk, and fund, targeting both institutional and retail investors across Web2 and Web3.
As part of his advisory role, CJN Accelerator Ltd. (“CJNA”) has been granted 1,000,000 options at a strike price of $0.15, expiring five years from the grant date.
This announcement comes as the Company prepares for its name change to Digital Asset Technologies Inc. (proposed ticker: DATT) and updated investment policy to build a diversified portfolio of companies operating at the forefront of emerging technologies. This strategy reflects a sharpened focus on the AI, Blockchain, Web3, Fintech, and broader ICT (Information and Communication Technology) sectors, including tokenized infrastructure and digital assets.
The Company also recently acquired LiquidLink AI Corp., a cutting-edge platform that enables scalable and cost-efficient issuance and trading of digital assets, including real-world assets (RWAs) on the XRP Ledger.
Bringing Mario Nawfal onboard is a power move. His experience at the intersection of media, Web3, and venture capital is unmatched. As we focus on the digital asset space, we’re excited to have him advising our journey,” said Young Bann, CEO of Eat & Beyond.
About Eat & Beyond
Eat & Beyond (CSE: EATS) is a publicly traded investment issuer that identifies and makes equity investments in global companies that are developing and commercializing innovative food tech, sustainability and technology. Led by a team of industry experts, Eat & Beyond provides retail investors with the unique opportunity to participate in the growth of a broad cross-section of opportunities in the alternative food, sustainability and technology sectors. Through its wholly owned subsidiary, Liquidlink AI Corp., the Company has entered the blockchain technology sector with a focus on real-world asset tokenization, decentralized infrastructure, and advanced trading analytics.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release.
For further information: For further information, please contact Young Bann, CEO, young@purposeesg.com.
This press release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as, “subject to”, or variations of such words and phrases or state that certain actions, events or results “may” or “will” be taken, occur or be achieved. Forward-looking statements in this news release include, but are not limited to, statements regarding the Company’s business strategy, current and future investments, the proposed name change, the updated Investment Policy, and the Company’s ability to obtain the necessary shareholder and regulatory approvals in connection with the proposed name change and updated Investment Policy. Forward-looking statements are based on assumptions, but the actual results may be materially different from any future expectations expressed or implied by the forward-looking statements. The forward-looking statements can be affected by known and unknown risks, uncertainties and other factors, including, but not limited to, the equity markets generally and a failure to obtain the necessary approvals from the Canadian Securities Exchange. Accordingly, readers should not place undue reliance on forward-looking statements.
This report is provided by Earth Negotiations Bulletin/International Institute for Sustainable Development. View the original reporthere.
Finance is critical to implementation of the Sendai Framework on Disaster Risk Reduction (DRR), but investments have not kept pace with rising demands, and aid budgets are shrinking worldwide. In many sessions through the day, delegates focused attention on financing a wide range of needs, including school safety, measures to deal with extreme heat, and nature-based solutions (NbS).
High-level dialogue
What will it take to scale DRR financing solutions at the national and local level?
Journalist Mayowa Adegoke moderated the session.
Stine Renate Håheim, State Secretary to Minister of International Development, Norway, emphasized DRR financing as a high priority, saying, “it is better to prevent than repair afterwards.” She noted that one in three people globally-most in cities or highly vulnerable areas-are not covered by Early Warning Systems (EWS).
Hans Sy, CEO, SM Prime Holdings, explained his company’s investment in resilient building construction, such as building on concrete pillars to allow free flow of floodwaters. He stressed that risk-informed decisions based on science and technology “makes good business sense.”
Fatima Yasmin, Asian Development Bank (ADB), said the Bank regards DRR as a critical priority investment, particularly through supporting policy making, planning, advising on innovative investments, and incentivizing preparedness. On scaling DRR investments, she said financing should be fast, flexible and forward-looking.
Rob Wesseling, CEO, Co-operators Group, said no path to net zero emissions is possible without investment in both prevention and recovery. He encouraged governments to utilize the risk information gathered by insurance companies over decades to assist with decision making.
On mobilizing private sector investment, Velenkosini Fiki Hlabisa, Minister of Cooperative Governance and Traditional Affairs, South Africa, stressed that every cent invested in resilience and preparedness saves lives and livelihoods.
View of the panel during the Multi-Stakeholder Plenary. Source: IISD/ENB | Anastasia Rodopoulou.
Ministerial roundtable
Inclusive comprehensive school safety-strengthening resilience for children and youth in all hazards
The event, which convened 36 ministries, was co-chaired by Kamal Kishore, Special Representative of the UN Secretary General for Disaster Risk Reduction and Head, UNDRR, and Paul Steffen, Deputy Director, Federal Office for the Environment, Switzerland.
In opening remarks, Kishore encouraged delegates to endorse the Comprehensive School Safety Framework 2017 (CSSF), noting only 80 countries have done so, and for countries to make schools heat-resilient.
On school safety policies, Tunisia, Zimbabwe, Mongolia, Pakistan, and Saint Lucia recognized the CSSF. Portugal highlighted its DRR working group on children and youth. Brunei Darussalam, Kenya, and Portugal recognized the fundamental rights of children to safe school environments. Colombia highlighted its Law on Teaching for Sustainability, Climate Change, and Disaster Risk Management. Republic of Korea described its 2020 Child Safety Management Act.
Many countries identified education programming as fundamental to reducing risk and developing children as agents of change in their homes and communities. Malaysia, Uganda, Russia, Algeria and others described homegrown examples of such programmes, for example, student leadership groups and First Aid skills training.
Leaders from around the globe express their shared commitment to making schools safer and more resilient to disasters. Source: IISD/ENB | Anastasia Rodopoulou.
Several countries, including Greece, Kenya and Cuba, recognized the importance of social support to children experiencing disaster and loss, and the ensuing mental and emotional health impacts. The Holy See flagged the need for spiritual care of those “who have seen whole lives swept away.”
Most countries discussed sustainable and resilient school infrastructure, including standards for new or retrofitted buildings. Belgium, Republic of Moldova, and Singapore highlighted energy efficiency and climate resilience. On heat stress in schools, Singapore flagged cooling strategies and energy-efficient fans. Tunisia described its sustainable school network that integrates climate change, disaster risk, and biodiversity objectives. Spain said new schools need to be “climate shelters.” Bangladesh noted the construction of more than 5,000 cyclone-resistant schools.
Multistakeholder plenary
Investments in reducing risk and building resilience to accelerate investments in sustainable development
Kishore introduced the session, which was co-chaired by Paul Steffen, Federal Office for the Environment, Switzerland, and Paola Albrito, UNDRR. Kishore noted less than 1% of national budgets is allocated to DRR.
Countries presented their national commitments, such as Australia’s Disaster-Ready Fund, which is providing up to AUD 1 billion (USD 648 million) over five years for locally-identified needs, and Switzerland’s DRR commitment of more than CHF 2 billion (USD 2.5 billion) annually. Many expressed appreciation for international support, including for Moldova’s local adaptation plans in 38 communities, and Samoa’s community-based disaster risk management activities. Peru highlighted its introduction of budget flexibility for regional and local authorities, enabling rapid response to imminent hazards.
The Food and Agriculture Organization of the UN (FAO) reported that only 3% of all development assistance is allocated to agricultural DRR measures, even while these deliver significant returns in ensuring food security. Swiss Re highlighted the role of insurance in informing risk and mitigation measures, noting the availaility of parametric insurance, for example, against extreme heat events and flooding. The Resilience Action Fund showcased the work of the International Finance Corporation in developing the Building Resilience Index as a world-first metric for assessing the safety and risk of buildings for insurers and construction developers. The Latin America and the Caribbean Development Bank (CAF), India, and the UK welcomed innovative initiatives, such as a new center on extreme events, establishment of risk pools, and the use of AI to identify flood threats.
Delegates affirmed regional solidarity, demonstrated in Tunisia’s hosting of the Africa-Arab Platform for DRR in 2023, and Iran’s hosting of three regional organizations, including a Regional Center for Urban Water Management. Albania welcomed its responsibilities under the EU Civil Protection Code for cooperation among EU countries and other partners, which, he noted, enables access to advanced DRR solutions.
The International Organization for Migration highlighted its 2024 launch of Climate Mobility Innovation Labs for the Africa and Asia regions to develop solutions to climate-related mobility.
Steffen urged all present to accelerate investment in DRR, and to engage the private sector as key partners.
Moderator, Juli Trtanj, Co-Chair, Gobal Heat Health Information Network, opened the session. Celeste Saulo, Secretary-General, World Meteorological Organization (WMO), called heat a “silent killer” because it is the least managed of all climate hazards. She said 50% of countries have heat warning systems in place but only 26 have dedicated Heat Health EWS. She identified three priorities: integrating heat risk into climate and DRR governance, heat EWS, and implementation using risk information and data.
In his keynote, Pramod Kumar Mishra, Principal Secretary to the Prime Minister, India, said heat threatened public health, economic stability, and the ecological resilience of cities and communities. He underscored UNDRR’s Common Framework on Extreme Heat Risk Governance and drew attention to India’s national guidelines on heat wave management, which decentralized more than 250 heat action plans in 23 states. He called for scaling hospital and primary health care preparedness and resilience and noted India is adopting a long-term heat wave mitigation strategy, including roof-cooling technologies, passive cooling centers, revival of traditional water bodies, and improved thermal comfort and livability of informal settlements.
In a panel discussion, Benoît Faraco, Ambassador, Climate Negotiations for Decarbonized Energies and for the Prevention of Climate Risks, France, urged being modest since we are still discovering impacts and avoiding maladaptation. Ousmane Ndiaye, Director General, African Center for Meteorological Application for Development, stressed the links between heat waves, energy crises, and health care demand. Rosa Galvez, Senator, Canada, spoke about lived experience saying, “We cannot adapt forever – we must work on the causes.” Jagan Chapagain, Secretary-General, International Federation of the Red Cross and Red Crescent Societies (IFRC), said extreme heat is a humanitarian crisis. On involving the financial sector, Mia Seppo, Assistant Director General, International Labour Organization, discussed climate risk insurance, just transition principles, and access to essential services. Mishra advised that industry protect labor from heat risk.
Source: IISD/ENB | Anastasia Rodopoulou.
Special session
Comprehensive approaches to reduce loss and damage-bridging climate action and DRR
Fatou Jeng, Former Climate Advisor to the UN Secretary-General and Member of the Early Warnings for All Advisory Panel, moderated the session.
Ralph Regenvanu, Minister for Climate Change, Adaptation, Meteorology and Geo Hazards, Energy, Environment and Disaster Management, Vanuatu, appreciated the support from the Fund for responding to Loss and Damage (FRLD) and the Santiago Network, which combined forces to launch the inaugural integrated loss and damage and DRR initiative in Vanuatu.
Kishore noted that, while many DRR practices are now in place, these need to be updated to deal with climate system changes and the associated risks, uncertainty, and volatility.
Benoît Faraco, argued that the distinction between loss and damage, and DRR, is theoretical, and remains irrelevant to people on the ground who want response, prevention, action, and solidarity to alleviate their situation.
Ibrahima Cheikh Diong, Executive Director, FRLD, emphasized the need to look at how interventions can be most impactful, stressing that solutions must be country-led, and recognize Indigenous groups and civil society participants. He expressed awareness that the FRLD must be “nimble, accessible, flexible and built on partnerships, always ensuring no one is left behind.”
Carolina Fuentes Castellanos, Director, Santiago Network Secretariat, elaborated on how the network is supporting countries to accelerate loss and damage, using Vanuatu’s experience to demonstrate how the Network can accelerate fund distribution and support with bold and transformative support.
Jagan Chapagain, Secretary-General, IFRC, cautioned that the terms loss and damage represent different meanings to communities, but the bottom line is to ensure the funds really reach the local level.
Thematic Sessions
Catalyzing governance solutions for disaster and climate-related displacement
Irwin Loy, The New Humanitarian, moderated this session.
John Mussington, activist and displaced person, Antigua & Barbuda, described his work of founding the community network, Stronger Caribbean Together, with others displaced by “disaster capitalism”, as storm-damaged sites are cleared for tourism development.
Sakiasi Ditoka, Minister of Rural and Maritime Development and Disaster Management, Fiji, highlighted the 2023 Pacific Regional Mobility Framework and Fiji’s own planned relocation guidelines.
Zahra Abdi Mohamed, Director-General, National Center for Rural Development and Durable Solutions, Somalia, described Somalia’s National Transformation Plan that prioritizes anticipatory action and climate-smart livelihoods, responding to the needs of long-term displaced communities.
Fatimah Zannah Mustapha, community representative, Nigeria, called for centering the voices of local women in decision making by removing barriers, “whether digital, linguistic, or cultural.” Claudinne Ogaldes Cruz, Executive Secretary, National Coordinator for Disaster Reduction (CONRED), Guatemala, noted that many Guatemalan households are women-led and have the knowledge to inform decision making.
Robert Piper, former UN Secretary-General’s Advisor on Solutions to Internal Displacement, said line ministries responsible for decisions on land use and building codes-“those who are responsible for dealing with the failure to prevent”-must become deeply involved in the governance of disaster displacement.
Leveraging Values of Nature for Resilience: Moderated by Cecilia Aipira, United Nations Environment Programme (UNEP), the session addressed the role of nature-based solutions (NbS) in DRR.
In his keynote, Mohammed-Yahya Lafdal, General Director, National Environment and Coastline Observatory, Mauritania, highlighted the increase in tree cover through reforestation and restoration, taking into account Indigenous knowledge and solutions, and the development of barrier systems for water distribution and management in desert areas. He emphasized how addressing land degradation and rehabilitation has been Mauritania’s best solution for increasing resilience.
Rodrigo Hernández Escobar, Representative of the Latin American and Caribbean Indigenous Knowledge & DRR Network, highlighted political will and respect for Indigenous cosmovision and territories as key elements for leveraging traditional knowledge into programmes supporting NbS. Isaac Luwaga Mugumbule, Head of Landscaping, Kampala Capital City Authority, Uganda, stated that NbS are context-specific and require community involvement to be sustained.
Professor Satoru Nishikawa, Japan International Cooperation Agency (JICA), stressed the need for scientific numerical quantification, analysis, and testing on the strengths and durability of NbS. Swenja Surminski, London School of Economics, noting that NbS “are not silver bullets,” stressed the need to work with nature, drawing attention to NbS co-benefits. Oliver Schelske, Swiss Re Institute, noting the absence of standardized values for nature, emphasized that even if “not everything is insurable,” investing in nature makes sense from an insurance perspective, as it reduces risks to the asset being insured.
On the prerequisites for NbS to be viable, speakers mentioned common sense, co-benefit considerations, identifying the number of protected lives, and conducting independent auditing.
Thematic Sessions as visual summaries capturing key messages and insights. Source: IISD/ENB | Anastasia Rodopoulou.
Side event
Inclusive comprehensive school safety—Strengthening resilience for children and youth in all hazards
This side event, organized and facilitated by the Global Alliance for Disaster Risk Reduction and Resilience in the Education Sector (GADRRRES), showcased school safety and resilience programmes from Central Asia, the Pacific region and the Caribbean.
Anja Nielsen, Co-Chair, GADRRRES, gave an overview of CSSF, noting the all-hazards, all-risks approach that includes environmental, climate change, and biological health risks, technical threats, and other everyday risks. She elaborated on the global school safety survey, representing 350 million school-aged children, and highlighted, among other concerns, that significant infrastructure investment is needed to better protect children and teachers from natural hazards, with most suffering from funding constraints.
Education administrators from Saint Lucia, Tonga, and Kyrgyzstan described CSSF activities and outcomes from their regions, and emphasized: involving the children actively in school safety is a game changer; collaboration is the essence of resilience, requiring whole-of-government and whole-of-society approaches; and building capacity at all levels, particularly teachers, for comprehensive school safety is key.
IISD’s summary
The summary report of the meeting will be available on Monday, 9 June 2025, here.
The 2025 Sasakawa Award winners are Dr. Mrutyunjay Mohapatra, from the India Meteorological Department, and Dr. Harkunti Rahayu, from the Indonesian Disaster Expert Association, both in the individual category; and the Global Network of Civil Society Organisations for Disaster (GNDR), in the organizational category.
These winners were announced at the Global Platform for Disaster Risk Reduction, in a vibrant Award Ceremony, packed with passionate candidates and their dedicated supporters, all gathered to celebrate some of the most outstanding contributions to disaster risk reduction.
Mrutyunjay Mohapatra, Director General of the India Meteorological Department (IMD), is popularly known as “The Cyclone Man of India” for his exceptional contributions to tropical cyclone forecasting and warning systems. He has been instrumental in improving India’s disaster preparedness and significantly reducing casualties from tropical cyclones through advanced forecasting and early warning systems.
Harkunti Pertiwi Rahayu is Professor of Disaster Aspect in Planning at the Institut Teknologi Sumatra and Chair of the Indonesian Disaster Expert Association. An internationally recognized leading expert in DRR, she chairs multiple international working groups on early warning and mitigation systems, disaster preparedness, developing people-centred early warning systems and capacity building, community awareness and preparedness.
The Global Network of Civil Society Organisations for Disaster Reduction (GNDR) – winner in the organizational category – is the largest global network of organizations working to strengthen the resilience of people most at risk of disasters, assembling around 2000 organisations in 130 countries. GNDR has made significant contributions to the content and implementation of the Sendai Framework, and is a strong advocate for inclusive and all-of-society disaster risk management.
Under the expert moderation of Anita Erskine, Ghanaian broadcast personality and sustainability champion, the ceremony honored those who have made exceptional strides in improving resilience to disasters.
Innovation and technology for inclusive resilience
This year’s theme, “Connecting science to people: democratizing access to innovation and technology for disaster resilient communities,” captured the spirit of innovation and accessibility that drives modern disaster preparedness. With over 200 outstanding nominees received in two categories, Individuals and Organizations, all candidates demonstrated incredible depth of talent and dedication within the global DRR community.
Special Representative of the UN Secretary-General for Disaster Risk Reduction Kamal Kishore delivered heartfelt gratitude to the community present and those watching online, acknowledging the tireless hard work and unwavering dedication of all those nominated for the award.
“This year’s award theme recognizes the importance of innovation and technology to advance resilience – and do it in a very inclusive and democratic way…. the efforts where science has been connected to society to serve the needs of people, those who are most vulnerable,” Mr Kishore said.
“I ask that we all ask and reflect on how we can support and scale up the vital efforts of these remarkable individuals and institutions,” he said.
The Nippon Foundation, whose generous support makes these awards possible, was proudly represented by Mr. Yosuke Ishikawa, Programme Director.
Mr. Kishore praised the high standard and exceptional achievements of all the nominees for the award, adding that the judges had to make difficult choices in selecting the winners from a group of such caliber. As a result they decided to recognize the following runners-up as highly commended.
Individuals:
Rob Hopkins “Radio Rob” from Yukon, Canada
Professor Virginia Murray from Global Disaster Risk Reduction at UK Health Security Agency, UK
Shee Kupi Shee from Disaster Management and Peace Building in Lamu County, Kenya
Kelvin Mashisia Shikuku from the International Livestock Research Institute in Kenya
Organization:
The World Institute on Disability (WID), Global/US
Inspiration for us all
The visionary work of these award winners demonstrates that disaster risk reduction is not just about preparation—it’s about building resilient communities where innovation meets humanity. Their dedication shows us that every contribution, no matter how small, can create ripples of positive change that protect lives and livelihoods.
Whether you’re a researcher, community leader, or simply someone who cares about making the world safer, there’s a place for you in disaster risk reduction. The challenges the world faces require diverse perspectives, innovative solutions, and collaborative efforts. Everyone is encouraged to continue the DRR journey and be part of the solution that builds a more resilient world for all.
The next edition of the Sasakawa Awards will be held at the Global Platform in three years’ time, and the jury will be thrilled to read even more inspiring stories of hope and action!
Canada has vast boreal forests that span from the Yukon in the west to Newfoundland and Labrador in the east. Each year, thousands of wildland fires char millions of hectares of these forests, particularly in the northern areas, where few people live and development is scarce. Indeed, some amount of fire is beneficial to boreal forest health and biodiversity. Challenges arise when human activity and fires collide, as they did in May and June 2025, when several large fires raged in northern Alberta’s oil sands region. The fast-developing region is home to the world’s fourth-largest proven oil reserves. The oil sands accounted for 58 percent of oil production in Canada in 2023, according to the Canadian Association of Petroleum Producers. On May 30, 2025, the OLI (Operational Land Imager) on Landsat 8 captured this false-color image of charred lands around oil infrastructure near Conklin. This band combination (6-5-3) helps to distinguish between unburned vegetated areas (green) and recently burned landscapes (brown). Thicker parts of the smoke plume appear light blue. Well pads and other gas and oil infrastructure appear as rectangular clearings connected by roads. In June, news reports indicated that fires in Alberta forced some companies to evacuate workers and temporarily pushed a portion of the province’s oil production offline. Subsequent reports indicated that production resumed after conditions improved. Alberta still had 51 out-of-control wildfires burning on June 4, 2025, according to the Canadian Interagency Forest Fire Center. NASA Earth Observatory image by Wanmei Liang, using Landsat data from the U.S. Geological Survey. Story by Adam Voiland.
This week the US Federal Bureau of Investigation revealed two men suspected of bombing a fertility clinic in California last month allegedly used artificial intelligence (AI) to obtain bomb-making instructions. The FBI did not disclose the name of the AI program in question.
This brings into sharp focus the urgent need to make AI safer. Currently we are living in the “wild west” era of AI, where companies are fiercely competing to develop the fastest and most entertaining AI systems. Each company wants to outdo competitors and claim the top spot. This intense competition often leads to intentional or unintentional shortcuts – especially when it comes to safety.
Coincidentally, at around the same time of the FBI’s revelation, one of the godfathers of modern AI, Canadian computer science professor Yoshua Bengio, launched a new nonprofit organisation dedicated to developing a new AI model specifically designed to be safer than other AI models – and target those that cause social harm.
So what is Bengio’s new AI model? And will it actually protect the world from AI-faciliated harm?
An ‘honest’ AI
In 2018, Bengio, alongside his colleagues Yann LeCun and Geoffrey Hinton, won the Turing Award for groundbreaking research they had published three years earlier on deep learning. A branch of machine learning, deep learning attempts to mimic the processes of the human brain by using artificial neural networks to learn from computational data and make predictions.
Bengio’s new nonprofit organisation, LawZero, is developing “Scientist AI”. Bengio has said this model will be “honest and not deceptive”, and incorporate safety-by-design principles.
According to a preprint paper released online earlier this year, Scientist AI will differ from current AI systems in two key ways.
First, it can assess and communicate its confidence level in its answers, helping to reduce the problem of AI giving overly confident and incorrect responses.
Second, it can explain its reasoning to humans, allowing its conclusions to be evaluated and tested for accuracy.
Interestingly, older AI systems had this feature. But in the rush for speed and new approaches, many modern AI models can’t explain their decisions. Their developers have sacrificed explainability for speed.
Bengio also intends “Scientist AI” to act as a guardrail against unsafe AI. It could monitor other, less reliable and harmful AI systems — essentially fighting fire with fire.
This may be the only viable solution to improve AI safety. Humans cannot properly monitor systems such as ChatGPT, which handle over a billion queries daily. Only another AI can manage this scale.
Large language models and machine learning are just small parts of today’s AI landscape.
Another key addition Bengio’s team are adding to Scientist AI is the “world model” which brings certainty and explainability. Just as humans make decisions based on their understanding of the world, AI needs a similar model to function effectively.
The absence of a world model in current AI models is clear.
One well-known example is the “hand problem”: most of today’s AI models can imitate the appearance of hands but cannot replicate natural hand movements, because they lack an understanding of the physics — a world model — behind them.
Yoshua Bengio is recognised as one of the godfathers of AI. Alex Wong/Getty Images
On the right track – but it will be bumpy
Bengio is on the right track, aiming to build safer, more trustworthy AI by combining large language models with other AI technologies.
However, his journey isn’t going to be easy. LawZero’s US$30 million in funding is small compared to efforts such as the US$500 billion project announced by US President Donald Trump earlier this year to accelerate the development of AI.
There’s also an outstanding question. Even if Bengio can build an AI system that does everything he says it can, how is it going to be able to control other systems that might be causing harm?
Still, this project, with talented researchers behind it, could spark a movement toward a future where AI truly helps humans thrive. If successful, it could set new expectations for safe AI, motivating researchers, developers, and policymakers to prioritise safety.
Perhaps if we had taken similar action when social media first emerged, we would have a safer online environment for young people’s mental health. And maybe, if Scientist AI had already been in place, it could have prevented people with harmful intentions from accessing dangerous information with the help of AI systems.
Armin Chitizadeh does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: People’s Republic of China – State Council News
China willing to work with Canada to promote steady improvement of bilateral ties: Premier Li
BEIJING, June 6 — China is willing to work with Canada, in the spirit of looking to the future, to promote the steady improvement of bilateral relations, bring them onto a track of sound and steady development, and strive for win-win cooperation, Chinese Premier Li Qiang said on Friday.
Speaking with Canadian Prime Minister Mark Carney on the phone at the latter’s request, Li said that Canada was one of the first Western countries to establish diplomatic relations with the People’s Republic of China, and the bilateral relationship was at the forefront of China’s ties with Western nations for a long time. However, in recent years, the relationship has suffered serious difficulties due to unnecessary disruptions, he added.
The development of China and Canada represents opportunities rather than threats to each other, said Li, noting that there are no fundamental conflicts of interest between the two, only a tradition of friendship and mutual benefits.
He expressed hope that the Canadian side will make joint efforts with the Chinese side, view China’s development in an objective and rational manner, and work together to achieve shared success and prosperity.
Looking ahead, there is enormous potential for China-Canada cooperation as the two economies are highly complementary, said Li, urging both sides to deepen cooperation in traditional areas, expand collaboration in emerging fields such as clean energy, climate change and scientific and technological innovation, and strengthen people-to-people as well as economic and trade exchanges.
Li called on both governments to listen to their people, respond to their concerns, and do more to enhance bilateral friendly cooperation and increase mutual understanding and trust.
China is willing to work with Canada, on the basis of equality and mutual respect, to seek and expand common ground while shelving and narrowing differences, strengthen exchanges and dialogue in various fields, and address each other’s concerns appropriately, Li said.
Noting that the current international situation is intertwined with turmoil, and unilateralism and protectionism are on the rise, Li said China is ready to work with Canada to jointly safeguard multilateralism and free trade, promote economic globalization and the multilateral trading system to develop in the right direction, and inject more stability into world peace and development.
For his part, Carney said that Canada and China have a profound traditional friendship and China is Canada’s second-largest trading partner. While bilateral relations have experienced some setbacks in recent years, he said, Canada is ready to restart its relationship with China.
The Canadian side looks forward to resuming high-level exchanges and dialogue mechanisms in areas such as diplomacy and economic and trade with China, and strengthening pragmatic cooperation in trade, agriculture, energy and environmental protection, he added.
In the face of the current international landscape, Canada is willing to enhance communication and coordination with China, jointly safeguard the international financial and trading system, and contribute to promoting global sustainable development, Carney said.
VANCOUVER, B.C., June 06, 2025 (GLOBE NEWSWIRE) — Black Gold Exploration Corp. (the “Company” or “BGX”) (CSE: BGX) (OTCQB: BGXCF) (FRA: BLGX) announces that its common shares are now trading under the symbol “BGXCF” on the OTCQB board of OTC Markets, a US trading platform that is operated by the OTC Markets Group in New York (the “OTC Listing”). The Company’s common shares will continue to trade on the Company’s primary market, the Canadian Securities Exchange, under the symbol “BGX” as well as on the Frankfurt Stock Exchange under the symbol “BLGX”.
This strategic expansion enhances BGX’s visibility, trading accessibility, and investor reach across North America and Europe, opening the door to a broader base of shareholders who the Company believes will recognize the potential of the Company’s emerging operations in the U.S. Midwest. BGX has now put its Fritz 2-30 well into production, of which it retains a 10% interest as part of its joint venture with LGX Energy Corp.
Francisco Gulisano, CEO of the Company stated: “We are working with a scalable asset base, a working interest in a production well with a proven technical team. Now with increasing access to global capital markets, we believe BGX is strategically positioned to continue to grow its operations and create long-term value for shareholders.”
In connection with the OTC Listing, the Company is pleased to announce that it has received DTC eligibility by The Depository Trust Company (“DTC”), a subsidiary of the Depository Trust & Clearing Corporation. Securities that are eligible to be electronically cleared and settled through the DTC are considered “DTC eligible.” This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers reducing transactional costs for participating brokerage firms, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements. DTC provides depository and book entry services, along with a settlement system for equities in the United States and across the globe. The organization is a member of the U.S. Federal Reserve System and a registered clearing agency with the U.S. Securities and Exchange Commission.
On behalf of the Company, Francisco Gulisano 236-266-5174 CEO
About BGX
BGX – Black Gold Exploration Corp. is an oil and gas exploration and production company dedicated to creating shareholder value in the Illinois Basin. With an experienced technical team and a growing asset base, BGX is unlocking value using modern drilling and completion technologies. For more information visit https://www.bgxcorp.com.
Forward-Looking Statements
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Source: People’s Republic of China – State Council News
Julian Alvarez scored a first-half winner as Argentina clinched a 1-0 away victory over Chile in their FIFA World Cup qualifier on Thursday.
The visitors took the lead in the 16th-minute at Estadio Nacional in Santiago when Alvarez ran onto Thiago Almada’s through ball and lifted a shot over goalkeeper Brayan Cortes.
Argentina controlled more than two thirds of possession against a Chile side that could only manage three shots on target.
With World Cup qualification already secured, Argentina started without captain Lionel Messi, as manager Lionel Scaloni fielded a largely inexperienced side.
Messi replaced Nico Paz in the 57th minute and the 37-year-old came close to scoring shortly after with a dangerous free-kick that was saved by Cortes.
Scaloni paid tribute to his players’ commitment after the match, adding that Chile had provided a stern test.
“It’s the players’ job to always give their all when they wear the national team shirt,” he told a post-match news conference. “These are tough matches because the players are having to get through a lot of games, but everyone wanted to be here and contribute – that’s the important thing.”
While Argentina can already start preparing for football’s showpiece tournament in the United States, Mexico and Canada next year, Chile’s chances of qualifying are distant.
Ricardo Gareca’s side is currently last in the 10-team South American zone standings and even three wins from its three remaining qualifiers might not be enough to secure a playoff spot.
In other CONMEBOL World Cup qualifiers on Thursday, Ecuador and Brazil drew 0-0 in Guayaquil and Paraguay beat Uruguay 2-0 in Asuncion.
This week the US Federal Bureau of Investigation revealed two men suspected of bombing a fertility clinic in California last month allegedly used artificial intelligence (AI) to obtain bomb-making instructions. The FBI did not disclose the name of the AI program in question.
This brings into sharp focus the urgent need to make AI safer. Currently we are living in the “wild west” era of AI, where companies are fiercely competing to develop the fastest and most entertaining AI systems. Each company wants to outdo competitors and claim the top spot. This intense competition often leads to intentional or unintentional shortcuts – especially when it comes to safety.
Coincidentally, at around the same time of the FBI’s revelation, one of the godfathers of modern AI, Canadian computer science professor Yoshua Bengio, launched a new nonprofit organisation dedicated to developing a new AI model specifically designed to be safer than other AI models – and target those that cause social harm.
So what is Bengio’s new AI model? And will it actually protect the world from AI-faciliated harm?
An ‘honest’ AI
In 2018, Bengio, alongside his colleagues Yann LeCun and Geoffrey Hinton, won the Turing Award for groundbreaking research they had published three years earlier on deep learning. A branch of machine learning, deep learning attempts to mimic the processes of the human brain by using artificial neural networks to learn from computational data and make predictions.
Bengio’s new nonprofit organisation, LawZero, is developing “Scientist AI”. Bengio has said this model will be “honest and not deceptive”, and incorporate safety-by-design principles.
According to a preprint paper released online earlier this year, Scientist AI will differ from current AI systems in two key ways.
First, it can assess and communicate its confidence level in its answers, helping to reduce the problem of AI giving overly confident and incorrect responses.
Second, it can explain its reasoning to humans, allowing its conclusions to be evaluated and tested for accuracy.
Interestingly, older AI systems had this feature. But in the rush for speed and new approaches, many modern AI models can’t explain their decisions. Their developers have sacrificed explainability for speed.
Bengio also intends “Scientist AI” to act as a guardrail against unsafe AI. It could monitor other, less reliable and harmful AI systems — essentially fighting fire with fire.
This may be the only viable solution to improve AI safety. Humans cannot properly monitor systems such as ChatGPT, which handle over a billion queries daily. Only another AI can manage this scale.
Large language models and machine learning are just small parts of today’s AI landscape.
Another key addition Bengio’s team are adding to Scientist AI is the “world model” which brings certainty and explainability. Just as humans make decisions based on their understanding of the world, AI needs a similar model to function effectively.
The absence of a world model in current AI models is clear.
One well-known example is the “hand problem”: most of today’s AI models can imitate the appearance of hands but cannot replicate natural hand movements, because they lack an understanding of the physics — a world model — behind them.
Yoshua Bengio is recognised as one of the godfathers of AI. Alex Wong/Getty Images
On the right track – but it will be bumpy
Bengio is on the right track, aiming to build safer, more trustworthy AI by combining large language models with other AI technologies.
However, his journey isn’t going to be easy. LawZero’s US$30 million in funding is small compared to efforts such as the US$500 billion project announced by US President Donald Trump earlier this year to accelerate the development of AI.
There’s also an outstanding question. Even if Bengio can build an AI system that does everything he says it can, how is it going to be able to control other systems that might be causing harm?
Still, this project, with talented researchers behind it, could spark a movement toward a future where AI truly helps humans thrive. If successful, it could set new expectations for safe AI, motivating researchers, developers, and policymakers to prioritise safety.
Perhaps if we had taken similar action when social media first emerged, we would have a safer online environment for young people’s mental health. And maybe, if Scientist AI had already been in place, it could have prevented people with harmful intentions from accessing dangerous information with the help of AI systems.
Armin Chitizadeh does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
From 26 to 28 May 2025, a landmark workshop was held at UNESCO Headquarters to reshape the engagement of Indigenous Peoples within the framework of the World Heritage Convention.
Co-designed and co-led by the International Indigenous Peoples’ Forum on World Heritage (IIPFWH), together with the UNESCO World Heritage Centre and the Advisory Bodies to the World Heritage Committee – ICCROM, ICOMOS and IUCN – the workshop marked a strategic turning point in advancing inclusive, rights-based approaches to World Heritage conservation.
The initiative stemmed from a shared recognition: that the safeguarding of heritage cannot be fully realized without the meaningful participation of Indigenous Peoples and the effective application of Free, Prior and Informed Consent (FPIC) – a principle that UNESCO has been actively promoting. More than a capacity-building effort, the workshop was a step towards fostering trust and establishing a foundation for reinforced collaboration between Indigenous knowledge holders and the institutions guiding the World Heritage system.
Over three days, participants engaged in open dialogue and peer learning, deepening mutual understanding of roles, responsibilities and working methods. Discussions centred on three strategic priorities: strengthening Indigenous participation in World Heritage processes; embedding FPIC into evaluation and monitoring frameworks; and jointly developing an action plan to guide future cooperation.
This milestone effort – made possible through the generous and long-standing support of the Governments of Australia and Canada – builds on the momentum of a growing global dialogue. It follows key international gatherings, including the expert workshop in Geneva and the New Delhi Dialogue in 2024, as well as discussions held around the 46th session of the World Heritage Committee (New Delhi, 2024).
As the World Heritage system continues to evolve, the lessons, partnerships and mutual commitments forged during this workshop will inform practice across the World Heritage system. They pave the way for a more inclusive and equitable future where Indigenous Peoples are heard and recognized as full partners and rights-holders in the governance of the world’s shared heritage.
Today, the Prime Minister, Mark Carney, spoke with the Premier of China, Li Qiang.
The leaders exchanged views on bilateral relations, including the importance of engagement, and agreed to regularize channels of communication between Canada and China.
The leaders also discussed trade between the two countries. They welcomed their trade ministers’ meeting this week, during which Canada and China agreed to convene the Joint Economic and Trade Commission (JETC) at an early date to address outstanding trade issues. Prime Minister Carney took the opportunity to raise trade irritants affecting agriculture and agri-food products, including canola and seafood, as well as other issues, with Premier Li.
The leaders took note of recent bilateral engagement on fentanyl and other opioids, and committed their governments to working together to address the fentanyl crisis.
Infants born very preterm spend weeks or even months in the neonatal intensive care unit (NICU) while their immature brains are still developing.
During this time, they receive up to 16 painful procedures every day. The most common is a routine heel prick used to collect a blood sample. Suctioning of the infant’s airways is also common.
While many of these procedures provide critical care, we know they are acutely painful. Even tearing tape off the skin can be painful.
The commonest strategy to manage acute pain in preterm babies is to give them sucrose, a sugar solution. But my recent research with Canadian colleagues shows this doesn’t stop these long-term impacts.
In New Zealand, there is no requirement to document all procedures or pain treatments. But as the findings from our Canadian study show, we urgently need research to improve long-term health outcomes for children born prematurely.
Long-term effects of pain in early life
We collected data on the number of procedures, clinical exposures and sucrose doses from three NICUs across Canada.
One of these sites does not use sucrose for acute pain management. This meant we were able to compare outcomes for children who received sucrose during their NICU stay and those who did not, without having to randomly assign infants to different care as you would in a randomised controlled trial – the gold standard approach.
At 18 months of age, when children born preterm are typically seen for a follow-up, parents report on their child’s behaviour. Our findings replicate earlier research: very preterm babies who were exposed to painful procedures early in life showed more anxiety and depressive symptoms by toddlerhood.
Our findings are similar regarding a child’s cognition and language, backing results from other studies. We found no link between preterm babies’ later behaviour and how much sucrose they were given to manage pain.
The sweet taste of sucrose is thought to alleviate pain because it leads to the release of endorphins. It has become the worldwide standard of care for acute neonatal pain, but it doesn’t seem to be helping in the long term.
As is the case internationally, sucrose is used widely in New Zealand, but there is considerable variation in protocols of use across hospitals. No national guidelines for best practice exist.
Pain management guidelines also help, but whether these changes improve outcomes in the long term, we don’t know yet.
We do know there are other ways of treating neonatal pain and minimising long-term impacts. Placing a newborn on a parent’s bare chest, skin-to-skin, effectively reduces short and long-term effects of neonatal pain.
For times when whānau are not able to be in the NICU, we have limited evidence that other pain management strategies, such as expressed breast milk, are effective. Our recent research cements this: sucrose isn’t helping as we thought.
Understanding which pain management strategies should be used for short and long-term benefits of this vulnerable population could make a big difference in the lives of these babies.
This requires additional research and a different approach, while considering what is culturally acceptable in Aotearoa New Zealand. If the strategies we are currently using aren’t working, we need to think creatively about how to limit the impact of pain on children born prematurely.
Mia Mclean does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
“The Competition Bureau has moved forward on unleashing extreme, ideological guidelines that will hurt Canada’s economy, silence our hard-working businesses and punish families from coast to coast to coast. The guidelines will not reduce emissions or improve environmental performance, but they will make it harder for companies to attract investment and make our country less globally competitive, once again.
“Despite detailed submissions and calls for change from provinces, businesses and Canadians, the guidelines continue to hold companies to international standards that don’t even exist, and which the Competition Bureau is not qualified to dictate or able to assess.
“These guidelines aren’t just unfair; they enshrine a dangerous double standard. This federal government for years has freely allowed anti-energy and anti-business activists to spread misinformation and false claims with impunity, while effectively silencing and putting an undemocratic gag order on the very businesses working to reduce emissions, build pipelines and grow our economy.
“This sends the wrong signal to markets and industry at the worst possible time. The federal government has committed to Albertans and all Canadians to making Canada an energy superpower. More fancy rhetoric and mixed messages will not make Canada an energy superpower, especially while Ottawa is upholding censorship laws that prevent businesses from talking about the very work and goals needed to build us into that superpower.
“If Prime Minister Mark Carney is serious about attracting investment, building major projects and truly improving Canadians way of life, he should take steps to scrap these guidelines immediately.”
This followed the death of another person in Victoria last month who was hit and killed by a modified e-bike which police alleged could travel at 90 kilometres per hour.
A study published earlier this week also found nearly 180 e-scooter injuries in young people aged five to 15 at the Sunshine Coast University Hospital in 2023 and 2024. One in ten injuries were life-threatening or potentially life-threatening.
For these risks to be properly addressed, an overhaul of regulations covering e-bikes and e-scooters is urgently needed.
All to do with power
E-bikes have a battery-powered motor to assist the rider. The key word there is “assist”: to be legal the rider has to be pedalling to get the power assistance.
E-scooters are a new variant of the once humble children’s kick scooter. They are more sturdy to support an adult rider, and the battery-powered motor provides all the power.
Some e-bikes and e-scooters have throttles, which enable riders to accelerate to higher speeds without pedalling. Technically, these are illegal.
These new forms of urban transport are surging in popularity. This year alone, about 150,000 e-bikes are forecast to be sold across the country. An estimated 350,000 Australians – about 1.3% of the population – owned an e-scooter in 2024.
Regulations governing e-bikes and e-scooters were historically designed with reference to the power required to ride a regular bicycle.
A person needs to provide power equal to 220 watts to propel a regular bicycle at 32km/h on a flat road without a headwind.
The figure of 250 watts emerged as the baseline in Europe for the power limit on e-bikes. It is 500 watts in Canada and 750 watts in the United States.
The regulations specify that power-assisted e-bikes can have a motor up to 250 watts. But the rider must pedal to get the power assistance and it must cut out above 25km/h.
E-bikes can travel faster than 25km/h. But the rider has to be providing all the power above that speed.
The same power limit was applied to e-scooters. But given their design and smaller wheels, regulators in Australia were more conservative, specifying a 20km/h maximum speed.
There are two main problems with the existing system of regulations. First, there is nothing to stop the import of high-performance e-bikes and e-scooters from overseas. Second, enforcement is difficult and rarely occurs, because the police don’t have the equipment to easily test motor power.
The federal government has a clear role to play in stemming the import of e-bikes and e-scooters that exceed the legal limits for public use in Australia.
However there is no evidence the government has engaged with the issue. This is inconsistent with its commitment to the National Road Safety Strategy and the approach taken to the management of vehicle safety and import regulations which apply to motor vehicles.
State and territory governments must revise and simplify their e-bike and e-scooter regulations.
Tasmania is on the front foot with its review of e-bike regulations. But e-scooter regulations also need reform – to make them easier for the public to understand, to ensure these devices offer a viable travel option for people and, importantly, to enable efficient enforcement.
Local government and road authorities should have the power to set speed limits for e-bike and e-scooter riders on shared paths. Cromo Digital/Shutterstock
A few changes to the rules could then make a big difference.
For a start, references to motor power should be removed because the severity of a crash depends on speed not the power of the device. Having the regulations framed in terms of power is a complication for enforcement and we don’t use it to regulate motor vehicles.
Then we need to focus on where, and how fast, these vehicles can be ridden.
A good first step would be to follow the lead of Queensland and Tasmania and legalise footpath riding, subject to a 12km/h or 15km/h speed limit as is the case in those states.
Restricting e-scooters to low-speed roads (up to 50km/h), and with a lower speed limit when ridden on the footpath, would minimise the risk of dangerous collisions with pedestrians and reduce the risk of dangerous collisions with cars on high-speed roads.
Specifying a max speed under power assistance for e-bikes of 32km/h would bring us in line with the regulations for countries that have cities similar to Australia’s such as Canada and New Zealand.
This would open our market to more models from overseas. It would also ensure e-bikes are better able to keep up with traffic when ridden on roads and are more competitive in terms of travel time relative to the car, to help further reduce car use.
When it comes to e-scooters, moving to a 25km/h speed limit (as is the case in Queensland), combined with restricting their use to roads of up to 50km/h, would improve their compatibility with the flow of motor vehicles on local streets.
Local government and road authorities should also have the power to declare areas where footpath riding is not permitted – for example, inner-city footpaths with heavy pedestrian activity. They should also have the power to set speed limits for riders on shared paths and bicycle lanes where there is likely to be interaction with pedestrians.
With those changes in place, police would be able to enforce displayed speed limits for e-bikes and e-scooters using radar guns, as is already done in Queensland, and issue fines where appropriate.
Geoff Rose has received in-kind support for his research, in the form of data, from shared e-scooter operating companies; he has served on the oversight panel for the Victorian Government’s shared e-scooter trial and he has consulted to the Tasmanian Department of State Growth on e-bike regulations.
More people belonging to the Sons of Freedom Doukhobor community are receiving financial health and well-being support, as part of the B.C. government’s apology for historical wrongs committed against them.
In August 2024, the Province, in partnership with the Canadian Red Cross, distributed funds to living survivors who were forcibly apprehended and kept in New Denver as children. Now, the remaining health and well-being funds will be shared among:
living survivors who were not school-aged when they were forcibly taken, and
deceased survivors’ descendants, including spouses or common-law partners and legally adopted children.
Descendants of survivors who are still alive or who have already received the health and well-being fund are not eligible to receive additional support.
This work is part of the Province’s ongoing efforts to honour the legacy of the New Denver survivors and to acknowledge the hardships they experienced at the hands of government.
People who believe they may be eligible to receive support but have not been contacted can email the Ministry of Attorney General: sofd@gov.bc.ca.
The deadline to contact the ministry is January 2026.
In 1899, the Doukhobors fled persecution in Russia, seeking refuge in Canada. Many settled in the Kootenay Boundary region in B.C. During the first half of the 20th century, the Province targeted the Sons of Freedom, a group within the Doukhobor community, with fines and seizure of property for acts of civil disobedience, such as missing school and protesting naked.
In addition, hundreds of children from the Sons of Freedom were forcibly removed from their families and placed in institutions in New Denver between 1953 and 1959. There, many of the children were subjected to physical, emotional and sexual abuse that left deep, generation-spanning scars on them, their families, loved ones and the broader community.
The Province issued a formal apology for these historical wrongs in February 2024.
Learn More:
For guidelines on determining eligibility and how to access the funds, visit: https://news.gov.bc.ca/files/Backgrounder%20-%20SoF%20Health_Wellbeing%20Funds%20Phase%202.pdf
To learn more about government’s apology, visit: https://news.gov.bc.ca/30239
Source: People’s Republic of China – State Council News
The draw for the ninth FIFA Under-17 Women’s World Cup was announced Wednesday, with the 2025 edition set to feature 24 teams for the first time.
The tournament will take place in Rabat, Morocco, from October 17 to November 8.
It will also mark the first time the global event is held in Africa, with the draw ceremony staged at the Mohammed VI Football Academy in Rabat.
Host Morocco will compete in Group A alongside Brazil, Costa Rica and Italy. Defending champion Democratic People’s Republic of Korea has been drawn into Group B with Cameroon, Mexico and the Netherlands.
China is in Group C with Ecuador, Norway and the United States. Group D includes Canada, France, Nigeria and Samoa.
Group E features Colombia, Cote d’Ivoire, South Korea and Spain, while Japan, New Zealand, Paraguay and Zambia make up Group F.
The top two teams from each of the six groups, along with the four best third-placed teams, will advance to the round of 16.
Ottawa, Ontario – June 5, 2025 – Government of Canada officials will hold an embargoed background media technical briefing on the introduction of legislation to build One Canadian Economy.
Date: Friday, June 6, 2025 Time: 10:15 EDT Location: National Press Theatre Room 325 Wellington Building 180 Wellington, Ottawa, Ontario
The media technical briefing will be for background information only and not for attribution and will be under embargo until the start of the Prime Minister’s press conference. Journalists will have the opportunity to ask questions.
Notes for media:
Participation is in-person or via Zoom and is for accredited members of the Press Gallery only. Media who are not members of the Press Gallery may contact pressres2@parl.gc.ca to request temporary access.
To receive briefing materials, please register with Privy Council Office Media Relations (media@pco-bcp.gc.ca). By registering to receive materials, participants agree to keep materials under embargo until the start of the Prime Minister’s press conference.
10:10 a.m. The Prime Minister will deliver remarks and meet with community members at an Eid al-Adha celebration.
EY Centre
Note for media:
Pooled coverage
12:30 p.m. The Prime Minister will hold a media availability. He will be joined by the President of the King’s Privy Council for Canada and Minister responsible for Canada-U.S. Trade, Intergovernmental Affairs and One Canadian Economy, Dominic LeBlanc, the Minister of Transport and Internal Trade, Chrystia Freeland, and the Minister of Energy and Natural Resources, Tim Hodgson.
Third Floor Foyer West Block Parliament Hill
Notes for media:
Open coverage
Media wishing to cover the event must be accredited with the Canadian Parliamentary Press Gallery.
June 5, 2025 – Paris, France – Global Affairs Canada
The Honourable Maninder Sidhu, Minister of International Trade, met Maroš Šefčovič, European Commissioner for Trade and Economic Security, at the Organisation for Economic Co-operation and Development (OECD) Ministerial Council Meeting (MCM) held on June 3 and 4, 2025, in Paris, France.
Minister Sidhu and Commissioner Šefčovič discussed the importance of supporting the rules-based trading system, as well as continuing to collaborate, including among G7 members, in support of an open, stable and predictable trade environment. They also discussed ways to expand Canada-EU trade, including through the implementation of the Canada-European Union Comprehensive Economic and Trade Agreement.
The EU market, comprising 27 member states, is Canada’s second-largest global trading partner for goods and services after the United States. Strengthening trade ties with the EU is key to ensuring Canadian businesses and industries have access to diverse markets and partners and supporting economic growth and jobs on both sides of the Atlantic Ocean.
June 5, 2025 – Paris, France – Global Affairs Canada
The Honourable Maninder Sidhu, Minister of International Trade, this week concluded his participation in the Organisation for Economic Co-operation and Development (OECD) Ministerial Council Meeting (MCM) and World Trade Organization (WTO) mini-ministerial meeting, in Paris, France.
At the OECD MCM, Minister Sidhu reaffirmed Canada’s support for the rules-based global trading system and its underpinning values. These include reinforcing the open, stable markets that ensure predictability amidst economic uncertainty, responsibly developing artificial intelligence and standing up for Ukraine. Canada served as vice-chair of the OECD MCM alongside Australia and Lithuania, under the chairship of Costa Rica.
At the meeting, Canada and the Philippines formally took on the role of the 2025 to 2028 co-chairs of the OECD Southeast Asia Regional Programme (SEARP), a program that was created to address economic and development challenges in Southeast Asia. Minister Sidhu announced that Canada will contribute $2 million to support SEARP’s activities, which align with Canada’s Indo-Pacific Strategy and Strategic Partnership with ASEAN.
At the WTO mini-ministerial meeting, Minister Sidhu advocated for deep and meaningful reforms of the WTO to ensure its rules are modernized and continue to support a rules-based global trading system. Canada also called for a pragmatic approach to the WTO’s 14th Ministerial Conference that considers current economic challenges.
While in Paris, the Minister also hosted a business round table with Canadian companies active in the French market. As Canada seeks to strengthen its collaboration with reliable trading partners, the Minister heard the business representatives’ first-hand perspectives on the opportunities for Canadian businesses in France.
Drivers are advised that Highway 4 will be temporarily closed near Cameron Lake on Wednesday, June 11, from 9 a.m. until 3 p.m., for catchment cleanup and maintenance.
Debris that was recently intercepted by the rockfall fencing next to the lake will be cleared to restore the catchment’s capacity. Geotechnical engineers have recommended this work to ensure the system continues to function as intended.
The highway will reopen to traffic once the work is complete. No further closures are planned.
For up-to-date information about road conditions, please visit www.DriveBC.ca
“Today marks the start of Eid al-Adha, the Feast of Sacrifice, that commemorates Prophet Ibrahim’s (Abraham’s) willingness to sacrifice his son in obedience to God. As the second and largest of the two major Islamic holidays, Eid al-Adha is a time for Muslims in Alberta and across the world to unite in prayer, enjoy festive meals, support those in need and express gratitude for life’s blessings.
“This holiday coincides with Hajj, the fifth Pillar of Islam and annual pilgrimage to Mecca that is to be undertaken at least once by all Muslims. It is a time to reflect on the values of sacrifice, devotion, faith, compassion, love and generosity.
“On this blessed day, we extend our heartfelt wishes to all those celebrating. May your prayers be answered, and your homes filled with joy.
The Province is giving people a free digital tool to help make their homes more energy-efficient and reduce heating bills.
The BC Home Energy Planner makes it simple for people to save energy and reduce their environmental footprint at the same time.
“Many British Columbians, especially those in older homes, may be needlessly wasting energy without even realizing it,” said Adrian Dix, Minister of Energy and Climate Solutions. “People want their homes to be more energy-efficient and comfortable, and reduce heating bills. The Home Energy Planner is a free and easy-to-use way to do it.”
The Home Energy Planner provides information about each home’s energy use by identifying issues, such as old windows or poor insulation, that may be causing heating bills to be higher than they should be. The tool also provides retrofit recommendations and connects people with program offers and registered contractors.
The planner uses public data and information to assess how well a home uses energy. Homeowners will learn about:
the home’s energy score (measured in gigajoules per year);
what kinds of home-energy upgrades will have the biggest impact;
how home-energy upgrades can help prepare people for extreme weather events; and
resources to help upgrade the home.
The planner is available to homeowners and renters. It can be used with single-family homes, as well as most townhouses, duplexes/triplexes, rowhouses and manufactured homes. It does not support condominiums, apartments or other multi-unit residential building types.
Quotes:
Kelly Greene, Minister of Emergency Management and Climate Readiness –
“Extreme-heat events are becoming more frequent and are expected to become more severe because of climate change. The Home Energy Planner can help people make choices that protect those they care about, such as installing a heat pump, which can efficiently cool your home during the hottest days of summer, while reducing your monthly energy bill.”
Maggie Baynham, sustainability project manager, District of Saanich –
“As a pilot community, Saanich has had an opportunity to test the Home Energy Planner and see it as a valuable tool for helping our residents understand how to save money on their energy bills, prepare their homes for climate impacts, such as extreme heat, while also making a meaningful contribution to climate action.”
Trevor Koot, CEO, BC Real Estate Association –
“The BC Home Energy Planner is an important step in providing homeowners with more information and tools to better understand their home’s energy-efficiency. By recognizing the impacts of building structure and systems on the home’s operational cost, carbon emissions, comfort and air quality, homeowners can be guided to their best options for future energy-retrofit projects.”
Chris O’Riley, president and CEO, BC Hydro –
“The BC Home Energy Planner helps homeowners and renters improve efficiency and reduce costs. By identifying problem areas and offering solutions, it empowers British Columbians to make smarter energy choices.”
Learn More:
To use the BC Home Energy Planner, visit: https://bchomeenergyplanner.ca/
June 5, 2025 – Ottawa, Ontario – Global Affairs Canada
The Honourable Anita Anand, Minister of Foreign Affairs, today announced that she will be in London, United Kingdom, and Paris, France, from June 6 to 7, 2025, for bilateral visits.
In London, Minister Anand will meet with David Lammy, Secretary of State for Foreign, Commonwealth and Development Affairs of the United Kingdom. They will discuss ways to reinforce the close Canada-United Kingdom relationship, including by strengthening security and defence collaboration and expanding economic cooperation.
There, Minister Anand will also meet with Shirley Botchwey, Secretary-General of the Commonwealth, to discuss strengthening the Commonwealth through strategic reforms and focusing on its key strengths, such as advancing democracy and human rights. Minister Anand will also attend a meeting of G7 heads of mission and a round-table discussion with business leaders on defence and economic growth.
Minister Anand will then travel to Paris, where she will meet with Jean-Noël Barrot, Minister for Europe and Foreign Affairs of France. They will discuss Canada and France’s continued collaboration on shared priorities, including defence and security, the promotion of democratic values, the two countries’ consecutive G7 presidencies and the promotion of the French language.
Throughout the trip, Minister Anand will reiterate Canada’s commitment to growing its already close ties with the United Kingdom and France as key transatlantic allies and reliable trading partners.
The Tŝilhqot’in Nation, the Province and Taseko Mines Limited (Taseko) have announced the signing of the Teẑtan Biny Gagaghut’i Agreement to resolve the long-standing conflict over the “New Prosperity” mineral tenures in the Teẑtan Biny (Fish Lake) area of Tŝilhqot’in territory.
Taseko Mines Limited and the Tŝilhqot’in Nation have reached an agreement under which any future mineral exploration and mine development in the New Prosperity mineral tenure area will require consent of the Tŝilhqot’in Nation. Additionally, the Province and the Tŝilhqot’in Nation have entered an agreement that requires the consent of the Tŝilhqot’in Nation for any mine in the Teẑtan Area that is a reviewable project under the Environmental Assessment Act to proceed. The Province is seeking orders in council to prescribe this agreement under Section 7 of the act and to authorize negotiations with the Tŝilhqot’in Nation to set out the process for how this requirement for Tŝilhqot’in Nation consent would be addressed in any potential environmental assessment process. The resolution leaves open the potential for the future development of this critical mineral deposit, with the consent of the Tŝilhqot’in Nation.
“Resolution of this long-standing legal and public conflict has been a priority for this government,” said Jagrup Brar, Minister of Mining and Critical Minerals. “These negotiations, which began under the previous mandate, laid important groundwork. The agreement demonstrates B.C.’s commitment to reconciliation and ensuring that the interests of First Nations and mining companies can advance together. I want to recognize all parties to this agreement for their willingness to collaborate to find common ground, build mutual respect, and create a foundation for shared prosperity. We will continue working in partnership to maintain a stable investment climate and future economic benefits for British Columbians.”
Christine Boyle, Minister of Indigenous Relations and Reconciliation, said: “It has taken vision and courage from strong leaders to get us to this significant moment. Together with the Tŝilhqot’in Nation and Taseko Mines Limited, and through this agreement, B.C. is aligning with commitments we’ve made under previous agreements, such as the Gwets’en Nilt’i Pathway Agreement, to support the Tŝilhqot’in path of self-determination. Through collaborative processes and by working in partnership with First Nations and industry, we will continue to advance reconciliation for the benefit of all.”
Nits’ilʔin (Chief) Roger William, Nits’ilʔin of Xeni Gwet’in, said: “This agreement protects our rights of consent in the Teẑtan area. That’s huge. For over three decades, we’ve had conflict in the Teẑtan area. For my oldest son, for many Tŝilhqot’in, that conflict has always been there, for their entire lives. Now we are turning the page. Tŝilhqot’in consent is protected: there is no longer the threat of exploration or mining without our consent. I hold my hands up to everyone that worked hard over the past five years to achieve this historic agreement that reflects true reconciliation, including the Province and Taseko Mines Limited. This is a time to celebrate for our people and honour all those who made this resolution possible.”
As part of the agreement, the Province will make a one-time payment of $75 million to Taseko Mines Limited. This payment supports the resolution of long-standing issues and enables key components of the tripartite agreement among the parties to move forward. Taseko has committed to not be the proponent (operator) of future mineral exploration and development activity at New Prosperity Project, and can divest some or all of its interest at any time, including to other mining companies. The path forward also includes the termination of all litigation related to the New Prosperity Project.
“This agreement resolves a damaging and value-destructive dispute and acknowledges Taseko’s commercial interests in the New Prosperity property and the cultural significance of the Teztan Area to the Tŝilhqot’in Nation,” said Stuart McDonald, president and CEO, Taseko Limited Mines. “Taseko will retain a majority interest (77.5%) in the mineral tenures, while any future development at New Prosperity will benefit the Tŝilhqot’in people and will only occur with their free, prior and informed consent. We thank all the parties for their contributions at the negotiating table and their commitment to the multi-year dialogue that has led to this historic agreement.”
Taseko will contribute a 22.5% equity interest in the New Prosperity mineral tenures to a trust for the future benefit of the Tŝilhqot’in Nation. The trust will transfer the equity interest to the Tŝilhqot’in Nation when and if it takes a decision to pursue mineral development in the area.
The Province and Tŝilhqot’in Nation have agreed to initiate a long-term land-use planning process to achieve land use predictability over the area declared by the Tŝilhqot’in Nation as Dasiqox Nexwagwezʔan (“There for Us”) on Oct. 4, 2014. The process will aim to establish clear land-use direction that protects the ecological, cultural and economic sustainability of the area. The planning process for Dasiqox Nexwagwezʔan will invite broad public and stakeholder participation and seek to build on shared values and solutions.
“This is a historic moment for our people and for reconciliation in British Columbia and Canada,” said Nits’ilʔin Lennon Solomon, Nits’ilʔin of Yuneŝit’in. “It shows what is possible when we come together in the right spirit to resolve even the deepest conflict. I am honoured to be part of a resolution that finally respects Tŝilhqot’in rights and jurisdiction in the Teẑtan area after a generation of conflict. I am grateful that we can move forward as Tŝilhqot’in in a positive way and put our energy and attention into our own priorities as a Nation.”
The tripartite agreement provides for a provincial government investment of $10 million to the Tŝilhqot’in Nation to support the implementation of programs that support cultural development and $1.5 million to the Tŝilhqot’in Nation to support its participation in the land-use planning process.
Learn More:
Follow the link to the map of the Teẑtan Area and Dasiqox Nexwagwezʔan Area: https://news.gov.bc.ca/files/te%e1%ba%91tan_dasiqox_nexwagwez%ca%94an_area.pdf
Follow the link to access the media B-Roll: https://spaces.hightail.com/receive/G4eEOlCQMx
To learn more about the Land Use Planning in British Columbia, visit: https://www2.gov.bc.ca/gov/content/industry/crown-land-water/land-use-planning
To learn more about the Environment Assessment Process, visit: https://www2.gov.bc.ca/gov/content/environment/natural-resource-stewardship/environmental-assessments/environmental-assessment-process
To learn more about the Tsilhqot’in National Government, visit: https://www2.gov.bc.ca/gov/content/environment/natural-resource-stewardship/consulting-with-first-nations/first-nations-negotiations/first-nations-a-z-listing/tsilhqot-in-national-government
Follow the link to the summary of the Teẑtan Biny Gagaghut’i (Teẑtan Biny Agreement): https://www2.gov.bc.ca/assets/gov/environment/natural-resource-stewardship/consulting-with-first-nations/agreements/summary_teztan_biny_agreement_29may2025.pdf
“Canada’s nature is woven into our identity and culture. On World Environment Day, we affirm our commitment to protecting Canada’s natural heritage and defending it for future generations.
“Canada’s new government will create new protected areas and national parks, bolster Indigenous stewardship, protect wildlife in and around our coastal waters, and safeguard our fresh water through the new Canada Water Agency.
“Furthermore, we will strengthen Parks Canada’s disaster response at home and champion nature conservation internationally, including by stopping illegal wildlife trade across our borders with modern technology.
“Together, we will protect the most beautiful country in the world and build a strong and united Canada.”
TORONTO, June 05, 2025 (GLOBE NEWSWIRE) — Xtract One Technologies Inc. (TSX: XTRA) (OTCQX: XTRAF) (FRA: 0PL) (“Xtract One” or the “Company”) a leading technology-driven threat detection and security solution that prioritizes the patron access experience by leveraging AI, today announced fiscal third quarter results for the three months ended April 30, 2025. All information is in Canadian dollars unless otherwise indicated.
Third Quarter Highlights
Quarterly revenue of $3.5 million for the three months ended April 30, 2025 versus $4.7 million in the prior-year period.
Gross margin of 57% for the third quarter of fiscal 2025 versus 58% in the prior-year period.
Total contract value of new bookings1 was $4.6 million for the three months ending April 30, 2025 as compared to $9.5 million for the same period last year.
Contractual backlog was $15.4 million at the end of the third quarter as compared to $13.8 million in the prior-year period, excluding an additional $21.1 million of agreements pending installation1 versus approximately $12.8 million at the end of the third quarter of fiscal 2024.
Subsequent to the quarter, the Company announced that its new innovative security platform, Xtract One Gateway, has been certified in Canada and the U.S and is on track to start shipping in July, with a current aggregate order value of approximately $6.7 million across five different customers. The Company has completed numerous demonstrations and trials across the education, healthcare and manufacturing and distribution markets.
“While revenue was lower than anticipated for the quarter due to some delayed deployments, we remain on track for a solid year of performance and continue to have a growing backlog that strengthens our outlook for the future,” stated Peter Evans, Chief Executive Officer of Xtract One. “As recently announced, our Xtract One Gateway will start shipping this July, and we already have $6.7 million of orders in hand. While increasing our expectations for the quarters to come, recent investments in inventory and product rollout reduced our cash level during the period, which was expected. At the same time, we’ve announced several exciting developments including new wins with the Colorado Rockies and an international entertainment giant which, along with other awards, position us well for the year ahead. We remain upbeat about the fourth quarter and look to end fiscal 2025 on a high note.”
Financial Results for the Three Month Period Ended April 30, 2025
Consolidated revenue was $3.5 million for the three months ended April 30, 2025 as compared to $4.7 million for the same period last year, reflecting timing of order deployments. Gross profit was $2.0 million, or a gross profit margin of 57%, in the fiscal 2025 third quarter versus $2.7 million, or a gross profit margin of 58%, in the prior-year period.
Comprehensive loss was $3.3 million for the three month period ended April 30, 2025 as compared to $2.7 million for the same period in fiscal 2024, reflecting a reduced gross profit offset by lower overall operating costs.
This press release should be read in conjunction with the Company’s Unaudited Condensed Consolidated Interim Financial Statements, prepared in accordance with International Financial Reporting Standards (“IFRS”) and the Company’s Management’s Discussion and Analysis for the three and nine month periods ended April 30, 2025 and 2024, which can be found on the Company’s website and under the Company’s profile on SEDAR+ at www.sedarplus.ca.
Conference Call Details
Xtract One will host a conference call to discuss its results tomorrow, June 6, 2025 at 10:00 am EST. Peter Evans, Xtract One CEO and Director, and Karen Hersh, CFO and Corporate Secretary, will provide an overview of the interim financial results along with management’s outlook for the business, followed by a question-and-answer period.
The webcast and presentation will be accessible on the company’s website. The webcast can be accessed here and the telephone number for the conference call is 844-481-3016 (412-317-1881 for international callers).
About Xtract One Technologies
Xtract One Technologies is a leading technology-driven threat detection and security solution leveraging AI to provide seamless and secure patron access control experiences. The Company makes unobtrusive weapons and threat detection systems that are designed to assist facility operators in prioritizing- and delivering improved “Walk-right-In” experiences while enhancing safety. Xtract One’s innovative portfolio of AI-powered Gateway solutions excels at allowing facilities to discreetly screen and identify weapons and other threats at points of entry and exit without disrupting the flow of traffic. With solutions built to serve the unique market needs for schools, hospitals, arenas, stadiums, manufacturing, distribution, and other customers, Xtract One is recognized as a market leader delivering the highest security in combination with the best individual experience. For more information, visit www.xtractone.com or connect on Facebook, Twitter, and LinkedIn.
About Threat Detection and Security Solutions
Xtract One solutions, when properly configured, deployed, and utilized, are designed to help enhance safety and reduce threats. Given the wide range of potential threats in today’s world, no threat detection system is 100% effective. Xtract One solutions should be utilized as one element in a multilayered approach to physical security.
The Company utilizes specific supplementary financial measures in this earnings release to allow for a better evaluation of the operating performance of the Company’s business and facilitates meaningful comparison of results in the current period with those in prior periods and future periods. Supplementary financial measures do not have any standardized meaning prescribed under IFRS and therefore may not be comparable to measures presented by other companies. Supplementary financial measures presented in this earnings release include ‘Agreements pending installation’ and ‘Total contract value of new bookings.’ Agreements pending installation reflects total value of signed contracts awarded to the Company that has not been installed at the customer site. ‘Total contract value of new bookings’ is comprised of all new contracts signed and awarded to the Company, regardless of the performance obligations outstanding as of the end of the reporting period. Total contract value is the aggregate value of sales commitments from customers as at the end of the reporting period without consideration of the Company’s completion of the associated performance obligations outlined in each contract.
CAUTIONARY DISCLAIMER STATEMENT:
This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipates”, “expects”, “believes”, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include but are not limited to the risks detailed from time to time in the continuous disclosure filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.
No securities exchange or commission has reviewed or accepts responsibility for the adequacy or accuracy of this release.
UnauditedInterim Statements of Loss and Comprehensive Loss for the Three and Nine Months Ended April 30, 2025 and 2024
The following table is extracted from the Company’s unaudited condensed consolidated interim financial statements and presented in Canadian dollars to demonstrate the Statements of Loss and Comprehensive loss for the three and nine months ended April 30, 2025 and 2024:
Three months ended April 30,
Nine months ended April 30,
2025
2024
2025
2024
Revenue
$
3,466,433
$
4,683,639
$
10,506,459
$
10,720,050
Cost of revenue
1,489,181
1,977,223
3,811,031
4,145,551
Gross profit
$
1,977,252
$
2,706,416
$
6,695,428
$
6,574,499
Operating expenses
Selling and marketing
$
1,563,446
$
1,259,445
$
4,451,180
$
4,066,829
General and administration
1,854,764
1,936,552
5,367,644
5,277,387
Research and development
1,638,988
2,182,756
5,078,617
5,967,553
Loss on inventory write-down
26,868
4,167
308,297
111,180
Loss on retirement of assets
2,029
40,538
23,704
40,538
Total operating expenses
$
5,086,095
$
5,423,458
$
15,229,442
$
15,463,487
Loss before the undernoted
(3,108,843
)
(2,717,042
)
(8,534,014
)
(8,888,988
)
Other income
Interest and other income
28,606
44,704
170,196
197,287
Net loss for the period
$
(3,080,237
)
$
(2,672,338
)
$
(8,363,818
)
$
(8,691,701
)
Other comprehensive income (loss) for the period
Currency translation differences for foreign operations
(197,348
)
–
348,771
–
Comprehensive loss for the period
$
(3,277,585
)
$
(2,672,338
)
$
(8,015,047
)
$
(8,691,701
)
Weighted average number of shares
218,426,987
200,110,734
218,415,199
198,924,490
Basic and diluted loss per share
$
(0.02
)
$
(0.01
)
$
(0.04
)
$
(0.04
)
Unaudited Interim Statements of Financial Position as of April 30, 2025 and July 31, 2024
The following table is extracted from the Company’s unaudited condensed consolidated interim financial statements and presented in Canadian dollars to demonstrate the Company’s financial position as of April 30, 2025 and July 31, 2024:
April 30, 2025
July 31, 2024
Assets
Current assets
Cash and cash equivalents (Note 15)
$
1,921,103
$
8,628,521
Receivables (Note 4)
1,301,903
3,862,199
Prepaid expenses and deposits
2,423,043
949,012
Current portion of deferred cost of revenue (Note 6)
397,649
371,309
Inventory (Note 5)
3,463,467
3,688,246
9,507,165
17,499,287
Property and equipment (Note 7)
2,326,031
2,135,956
Intangible assets (Note 8)
4,730,705
4,465,755
Non-current portion of deferred cost of revenue (Note 6)
280,467
496,868
Right of use assets (Note 9)
928,941
344,304
Total assets
$
17,773,309
$
24,942,170
Liabilities
Current liabilities
Accounts payable and accrued liabilities
$
1,771,976
$
3,991,292
Current portion of deferred revenue (Note 10)
5,247,967
3,443,524
Current portion of lease liability (Note 9)
156,797
190,400
7,176,740
7,625,216
Non-Current liabilities
Non-current portion of deferred revenue (Note 10)
2,841,068
3,155,579
Non-current portion of lease liability (Note 9)
923,972
190,526
$
10,941,780
$
10,971,321
Shareholders’ equity
Share capital (Note 13)
$
144,398,090
$
144,372,452
Contributed surplus
17,014,039
16,163,950
Accumulated deficit
(154,929,371
)
(146,565,553
)
Accumulated other comprehensive income
348,771
–
$
6,831,529
$
13,970,849
Total liabilities and shareholders’ equity
$
17,773,309
$
24,942,170
Unaudited Interim Statements of Cash Flows for the Nine Months Ended April 30, 2025 and 2024
The following table is extracted from the Company’s unaudited condensed consolidated interim financial statements and presented in Canadian dollars to demonstrate the Company’s cash flows for the nine month periods ended April 30, 2025 and 2024:
Nine months ended April 30,
2025
2024
Cash flow used in operating activities
Loss for the period
$
(8,363,818
)
$
(8,691,701
)
Adjustment for:
Share-based compensation (Notes 13, 14)
858,758
668,555
Depreciation (Notes 7, 9, 12)
1,084,022
938,567
Amortization (Notes 8, 12)
637,279
604,425
Finance cost (Notes 9)
34,020
17,839
Loss on retirement of assets
23,704
40,538
Loss on inventory (Note 5)
308,297
111,180
(5,417,738
)
(6,310,597
)
Changes in non-cash working capital
Receivables
2,610,436
(3,266,008
)
Prepaid expenses and deposits
(1,469,555
)
334,746
Inventory
(793,081
)
(3,664,444
)
Deferred cost of revenue (Note 6)
190,061
172,754
Accounts payable and accrued liabilities
(2,232,051
)
942,696
Deferred revenue
1,540,851
5,357,879
Cash used in operating activities
(5,571,077
)
(6,432,974
)
Cash flow used in investing activities
Purchase of property, plant and equipment (Note 7)
(185,045
)
–
Internally developed intangible assets (Note 8)
(729,730
)
–
Proceeds from disposal of property, plant and equipment
1,000
–
Acquisition of right of use asset (Note 9)
(5,028
)
–
Cash used in investing activities
(918,803
)
–
Cash flow used in financing activities
Proceeds on issue of share capital
16,970
8,131,985
Lease payments (Note 9)
(214,358
)
(286,066
)
Cash (used) received in financing activities
(197,388
)
7,845,919
Effect of exchange rate changes on cash and cash equivalents
(20,150
)
–
Net (decrease) increase in cash and cash equivalents for the period
The chief executive assessment officer of the Environmental Assessment Office (EAO) has determined that the Prince Rupert Gas Transmission (PRGT) natural gas pipeline project has been substantially started.
With this decision, the certificate remains in effect for the life of the project, unless it is cancelled or suspended pursuant to the Environmental Assessment Act. The environmental assessment certificate approving the PRGT project was issued in 2014, following the EAO’s environmental assessment. The certificate required the project to have been substantially started by Nov. 25, 2024, for it to remain valid.
The EAO undertook a detailed assessment process that started at the end of November 2024, examining all evidence relevant to the matter of whether or not the project is substantially started. First Nations potentially impacted by the project had an opportunity to provide their views.
The EAO developed a report on its findings from a field assessment of the project site, documentation from Prince Rupert Gas Transmission Ltd. and information from First Nations, Gitanyow Hereditary Chiefs, Gitxsan Wilps and members of the public for the decision-maker’s consideration. Only construction and other project-related activities by the proponent up to Nov. 25, 2024, were considered.
As outlined in his reasons for decision, the chief executive assessment officer determined that the physical work completed is consistent with standard pipeline development, and together with other activities and investments undertaken, the company demonstrated a strong intention to advance the project in the near term.
Substantial start determinations are made on a case-by-case basis, considering all relevant facts. Substantial start determinations are commonly delegated by the minister of environment and parks to the EAO’s chief executive assessment officer.
EAO compliance and enforcement officers will continue to monitor the PRGT project throughout construction and operation to ensure the project meets all requirements in the project’s environmental assessment certificate.
Quick Facts:
The PRGT project was approved in 2014 to run about 900 kilometres between Hudson’s Hope in northeastern B.C. and Lelu Island near Prince Rupert (the site of a previously proposed, but since cancelled, LNG processing facility). The project as approved includes both land and marine sections of pipeline, along with compressor and metering stations.
The PRGT project was acquired from TC Energy Corporation by Nisga’a Nation and Western LNG in March 2024, to supply natural gas to the proposed Ksi Lisims LNG facility, a project the EAO is currently assessing.
Prince Rupert Gas Transmission Ltd. applied to the EAO in 2024 to change the pipeline route to end on Pearse Island at the proposed Ksi Lisims LNG site. This amendment request is currently being assessed by the EAO.
The EAO is also assessing a separate amendment request received in 2024 to reroute the eastern portion of the pipeline between Chetwynd and Mackenzie, which includes moving the route south to follow part of an existing cleared right of way and shortening it by about 50 kilometres.
The PRGT pipeline project would transport approximately 2 billion cubic feet of natural gas per day, with capacity to expand to about 3.6 billion cubic feet per day.
Learn More:
Reasons for Determination: Prince Rupert Gas Transmission substantial start determination: https://www.projects.eao.gov.bc.ca/api/public/document/6841bac274cf8a00219ff411/dowload/PRGT_Reasons_for_Decisions.pdf
EAO’s Analysis of a Substantially Started Determination Request: PRGT Project:
Rob Botterell, BC Green Party house leader; MLA for Saanich North and the Islands –
“These projects show what’s possible when communities and non-profits are given the tools to take housing off the speculative market. When we protect and expand affordable housing, we don’t just solve the housing crisis – we make progress on health, education and economic stability. To create lasting change, we need continued and expanded support for protecting existing affordable homes.”
Julius Bloomfield, mayor of Penticton –
“Today’s announcement highlights the success of our affordable housing pilot funding program. This program, along with our updated permissive tax-exemption policy, reflects our commitment to non-market housing and partnerships to protect affordable rentals so residents can stay in homes they can afford.”
Raymond Kendell, a tenant in Penticton –
“I was worried I wouldn’t find a place. It’s expensive here in Penticton. I’ve lived here 4.5 years. I appreciate that the Penticton and District Society for Community Living improved our building. Most people in the building seem stress-free and much happier now.”
Tarra Kenney, CEO, Penticton and District Society for Community Living (PDSCL) –
“The acquisition of the apartments at 680 Wade Ave. E. in Penticton, made possible through the Rental Proection Fund (RPF), marks a significant step in ensuring affordable housing for our community. Thanks to this funding, PDSCL has been able to maintain lower rental rates, providing stability and accessibility for residents who need it most.”
Stephen Bennett, CEO, Affordable Housing Societies –
“We are grateful for the support of the Province through the Rental Protection Fund (RPF) for our purchase of the Camelot apartments in Chilliwack. Because of this purchase, we have been able to ensure the residents of that building continue to have housing stability at rents they can afford.”
Mark Miller, CEO, Connective –
“Connective thanks the Government of B.C. and the RPF for their investment in sustainable housing solutions. We’re proud to play a role in addressing urgent housing needs in Fort St. John, and know that safe, secure housing is essential to building strong, thriving communities.”
Lindsay Lord, CEO, Connective Kamloops –
“Connective is proud to be the new owner of Riverside Gardens and would like to thank and commend the B.C. government and the RPF for working rapidly and diligently in addressing the housing crisis through innovative programs. Connective remains committed to the development, acquisition and protection of affordable housing for our community.”
Lee-Anne Michayluk, CEO, More Than A Roof Housing Society –
“This acquisition underscores our ongoing commitment to fostering strong, thriving communities by prioritizing sustainable and affordable housing solutions. We extend our appreciation to the RPF team and the provincial government as we work together to create lasting, positive impacts for current and future residents.”
Jeffrey Yu, board president, New Vista Society –
“New Vista wants to thank Minister Kahlon and Katie Maslechko from the Rental Protection Fund for their leadership and contribution allowing us to resume housing services in the city of Vancouver, where our founder started our society back in 1943. Thank you so much.”
The Canadian Food Inspection Agency (CFIA) has confirmed the presence of Dermo (also known as Perkinsosis) in oyster samples collected in Notre Dame Bay, Newfoundland and Labrador. Dermo does not pose a risk to human health or food safety, but it can cause increased oyster mortality and decreased growth rates. This is the first confirmed case of Dermo in Newfoundland and Labrador.
To limit the spread of the disease, the CFIA, Fisheries and Oceans Canada (DFO) and the Newfoundland and Labrador Department of Fisheries, Forestry and Agriculture are working together with stakeholders, provincial partners, and Indigenous communities to monitor the situation and take necessary action. These actions are part of the Government of Canada’s One Health approach to prepare for, detect, and manage animal diseases.
In addition to existing robust protective measures and increased animal surveillance, the CFIA, DFO and the Newfoundland and Labrador Department of Fisheries, Forestry and Agriculture continue to conduct tracing activities and testing of oysters to gain insight into the presence of Dermo in the area. At this time, these response measures include:
applying movement controls to oysters in the area;
further investigating the potential source of the detection;
engaging scientists, producers and harvesters to continue to monitor mollusc health, including notifying CFIA or the Province of sick oysters or when decreased rates of growth or increased mortalities are observed; and
ensuring that information regarding detection and movement control information is available to producers.
