08:01 PM EDT, 08/05/2024 (MT Newswires) -- (The following companies were in the news over the holiday weekend in Canada.)

Riot Platforms, Inc. reported a beneficial ownership of 16.9% in Bitfarms Ltd. ( BITF ) .

Emera Inc. ( EMRAF ) , an international energy and services company, entered into an agreement to sell its wholly owned operating company, New Mexico Gas Company, Inc., to Bernhard Capital Partners, a services and infrastructure-focused private equity management firm, for an aggregate transaction value of US$1.252 billion, including the assumption of near US$500 million of debt and subject to customary closing adjustments. "This transaction strengthens Emera's ( EMRAF ) balance sheet, supports our ambitious capital plan and reinforces our strategic decision to optimize our portfolio and reallocate capital to our highest growth markets to drive long-term value for our shareholders," said Scott Balfour, President and CEO, Emera Inc. ( EMRAF ) "New Mexico Gas is a strong regulated utility with a customer-focused team. We're proud of the work we have done together over the past eight years to drive customer growth and enable nearly US$800 million n strategic capital investments to expand and maintain a safe, reliable system that will serve New Mexicans for decades to come."

Emera ( EMRAF ) said the purchase price and transaction value respectively represent near 23x last 12 months earnings and 1.42x rate base. Estimated after-tax net proceeds of near US$750 million will be used to repay holding company debt and support its investment opportunities in its regulated utility businesses. The transaction is expected to improve the company's CFO to debt metrics by 50 bps and reduce its proportion of holding company leverage by 200 bps.

Energy Fuels Inc. ( UUUU ) , an industry player in uranium and rare earth elements production for the energy transition, said during the three months ended June 30, 2024, the company incurred a net loss of US$6.42 million, or $0.04 per common share, primarily due to costs related to negotiating the Donald Project joint venture, the proposed acquisition of Base Resources and recurring operating expenses, partially offset by sales of natural uranium concentrates.

Of highlights, EFR cited a "robust" balance sheet with over $200 million of liquidity and no debt; nearly $15 million of additional liquidity from market value of inventory. It said uranium "continues to drive revenue" and cited a new long-term uranium sales contract with a U.S. utility. It also said a "Phase 1" REE separation circuit had been "successfully commissioned" and added it was "well-stocked to capture market opportunities."

Fennec Pharmaceuticals Inc. , a commercial stage specialty pharmaceutical company, appointed Jeff Hackman as its Chief Executive Officer (CEO) and a member of the Board of Directors, effective on or about August 16, 2024. It said he will guide Fennec's strategic direction for operational success in the expansion of PEDMARK use in community oncology and the adolescent and young adult population.

Gran Tierra Energy Inc. ( GTE ) announced an operational update. Gary Guidry, President and CEO, in a statement said: "We are thrilled with the continued success of the Bocachico Norte-J1 well which marks the fourth consecutive oil discovery in Ecuador. These discoveries are a testament to our strong technical analysis and understanding of the geology, as well as our well-positioned land in the Oriente/Putumayo basin in Ecuador and Colombia. The production from the T-Sand and identified net pay in the B-Limestone and Basal Tena highlights the multi zone potential in our blocks. The presence of multiple producing zones and the ability to comingle production enhance our operational flexibility and economics. Together with the Arawana field, we expect these fields to be key drivers of production growth, reserve additions and free cash flow for the company for years to come."

On the Bocachico Norte-J1 Oil Discovery: Gran Tierra has run production casing, cemented and perforated the T-Sand oil zone and has begun production testing; The T-Sand was perforated over 20 ft of reservoir with 29 ft of reservoir pay based on log evaluation. A jet pump was run and the well has produced at stabilized rates over 51 hours at 1,353 barrels oil per day, 35.5-degree API gravity oil, less than 1% water cut, and a gas-oil ratio of 336 standard cubic feet per stock tank barrel.

It said this "positive" test in the T-Sand builds confidence in the multizone potential (Basal Tena/U-Sand/T-Sand) for the Zabaleta well which is expected to be drilled in the second half of 2024 and is 200 feet up dip from the recent Arawana discovery well. It added Arawana continues to produce with strong results from the Basal Tena zone greater than 900 bopd. The artificial lift system will be converted from a jet pump to electrical submersible pump in the third quarter of 2024. The cumulative production to date from Arawana is approximately 74,000 bbl. "This test verifies the Bocachico structure potential in the T-Sandstone and continues to diversify the corporate producing product stream to lighter hydrocarbons."

Golden Minerals Company ( AUMN ) announced the retirement of the company's Senior Vice President and Chief Financial Officer, Julie Weedman. Ms. Weedman's retirement, which has been expected for some time, will become effective on August 15, 2024. Ms. Weedman will remain available to the company on a consulting basis after her retirement date. Joe Dwyer, Golden Minerals' ( AUMN ) Corporate Controller, will serve as Chief Financial Officer.

Nuvei Corporation ( NVEI ) , the Canadian fintech company, entered into a definitive agreement to acquire Pay2All, a licensed Payment Institution authorized by the Central Bank of Brazil. According to a statement, the license will enable Nuvei ( NVEI ) to offer payment services in Brazil as an Issuer of Electronic Currency. These include accepting payments, managing e-wallets and betting accounts, and participating in all of Brazil's local payment systems, including processing PIX transactions. Such a license is required to provide transactional services for authorized operators in the newly regulated market of sports betting and online gaming. No financial details were provided.

Meanwhile, Altius Renewable Royalties Corp. ( ATRWF ) , reported its 50% owned Great Bay Renewables joint venture recorded US$3.1 million in revenue for the quarter ended June 30, 2024 compared to $2.0 million in Q2 2023. Operating cash flows at GBR were $0.9 million for the quarter ended June 30, 2024 compared to $1.0 million in Q2 2023 primarily due to increased revenue offset by debt service costs.

Aura Minerals Inc. ( ORAAF ) announced recent changes in its leadership and management structure to the market. It also reported net revenue of US134.411 million versus $84.950 million a year earlier. On guidance: ORA said it is "on track" to meet its guidance for the current fiscal year, including production, cash cost, All-In Sustaining Cost (AISC), and capital expenditures, as demonstrated by the results of the first semester.

5N Plus Inc. (VNP.TO), a global producer of specialty semiconductors and performance materials, for the second quarter reported a 6% year-over-year increase in revenue to US$74.6 million; a 24% year-over-year increase in Adjusted EBITDA to $13.5 million; Adjusted gross margin percentage of 31.3%; and backlog of $245.0 million, representing 300 days of annualized revenue, as at June 30, 2024.

Green Thumb Industries Inc. ( GTBIF ) , a national cannabis consumer packaged goods company and owner of RISE Dispensaries, for the second quarter reported second quarter revenue of US$280 million, an increase of 11% year-over-year; GAAP net income of $21 million or $0.09 per basic and diluted share; Adjusted EBITDA of $94 million or 34% of revenue; and cash at quarter end of total $196 million.