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Former Vice President Kamala Harris said her onetime boss, former President Joe Biden, made a ‘big mistake’ by not inviting Tesla CEO Elon Musk to a 2021 White House event on electric vehicles. 

In August 2021, Biden hosted an EV event at the White House with executives from General Motors, Ford and Stellantis, but Musk was not invited, despite Tesla being the nation’s leading EV manufacturer. 

‘I write in the book that I thought it was a big mistake to not invite Elon Musk when we did a big EV event,’ Harris told Fortune Editor-in-Chief Alyson Shontell on Tuesday at the news outlet’s Most Powerful Women Summit in Washington, D.C., referring to her memoir, ‘107 Days,’ in which she criticized Biden for initially running for re-election despite his health struggles.

‘I mean, here he is, the major American manufacturer of extraordinary innovation in this space,’ Harris said of Musk, who is also the CEO of SpaceX.

Musk’s snub was widely viewed as an effort to support the United Auto Workers and organized labor overall, since Tesla plants are not unionized. Harris wrote in her book that she believed Biden was ‘sending a message about Musk’s anti-union stance’ but that she thought excluding him as the top player in the field ‘simply doesn’t make sense.’

Then–White House Press Secretary Jen Psaki said the event featured ‘the three largest employers of the United Auto Workers,’ emphasizing that Tesla’s workers are not unionized.

Pressed on whether Musk’s snub was punishment for his workers not being unionized, Psaki told reporters: ‘I’ll let you draw your own conclusion.’

The Biden administration defended inviting only those automakers, calling them key partners in the president’s push for union jobs.

Harris said that presidents should ‘put aside political loyalties’ when it comes to recognizing technological innovation.

‘So, I thought that was a mistake, and I don’t know Elon Musk, but I have to assume that that was something that hit him hard and had an impact on his perspective,’ she said.

Musk did appear to take offense after he was not invited to the event, taking numerous jabs at Biden.

‘Yeah, seems odd that Tesla wasn’t invited,’ Musk wrote at the time on social media.

A month later, he said the Biden administration appeared to be ‘controlled by unions’ and was ‘not the friendliest administration.’

After Musk learned Tesla would not be invited, administration officials offered an apology, according to The Wall Street Journal. Biden aides later attempted to soothe things over, but tensions remained.

Harris’ comments on Tuesday mirrored a passage from her new book in which she wrote that the Biden administration’s move not to include Tesla was a mistake and that it appeared to alienate Musk, who later became one of current President Donald Trump’s top financial backers.

‘Musk never forgave it,’ she wrote.

Musk later endorsed Trump in the 2024 election and contributed roughly $300 million toward Republican campaign efforts. 

This post appeared first on FOX NEWS

The guns have gone quiet over Gaza — for now. After years of darkness, the region has entered a new phase shaped by President Donald Trump’s decisive leadership and the landmark 20‑point Gaza peace deal. Hostages have come home, Hamas has been driven underground, and an American‑backed peace architecture has emerged where fire once raged.  

For the first time in decades, Israelis and Arabs alike can glimpse something extraordinary: a path forward. Yet history reminds us that in the Middle East, every dawn carries both promise and peril. Which road will this new dawn take? 

1. The golden horizon — prosperity through peace 

In the most hopeful scenario, Trump’s peace‑through‑strength doctrine takes root across the region. Arab nations once divided by ideology are now united by opportunity. Saudi Arabia and the Emirates invest in Gaza’s reconstruction. Egypt and Jordan join a multinational stabilization force. Israeli innovation fuses with Gulf capital to create a ‘New Abraham Corridor’ stretching from Haifa to Mumbai — a network of trade, fiber and trust. 

If momentum continues, the Middle East could experience its most dynamic decade of growth in modern history, a true dividend of deterrence where strength sustains peace. This is the world imagined in Trump’s vision: when America leads with conviction, peace and prosperity follow. 

2. The Phoenix of Persia — Iran rises again 

Iran today lies bruised after its 12‑day war with Israel — its nuclear facilities shattered and its clerical regime faltering under global sanctions and internal dissent. But as history proves, Tehran’s rulers are nothing if not resilient. Should the Revolutionary Guard tighten its grip after Ayatollah Khamenei’s death (He’s 86 now and in fragile health.), the Islamic Republic could re‑ignite its ‘Axis of Resistance,’ funneling arms to Gaza, Lebanon and Yemen. 

A revived Iran — driven less by theology than by vengeance — could again bankroll Hamas, Hezbollah and the Houthis, destabilizing every border from the Golan to the Gulf. That path leads not to peace but to another round of rockets. 

3. The mirage of coexistence — Hamas rebrands and regroups 

Even as the ink dries on the ceasefire, Hamas cadres are reportedly resurfacing under new guises — embedding themselves in Gaza’s police, charities and reconstruction committees. As analyst Matthew Levitt warned in Foreign Affairs, Hamas is ‘not done fighting.’ It has survived isolation before — after Oslo, after 2014, after the October 2023 massacre. If it is allowed to mutate rather than disarm, today’s peace will become tomorrow’s deception. 

4. The fragmented peace — a cold stability 

A more modest outcome is a Middle East trapped in uneasy calm. Israel remains wary, Arab states distracted and Gaza suspended between aid and anarchy. The Palestinian Authority governs half‑heartedly — half technocrats, half radicals. Donors rebuild while militants lurk in the shadows. This scenario mirrors Lebanon’s long stagnation: peace without progress, stability without spirit. Better than war — but a waste of the rarest currency in the Middle East: hope. 

5. The renaissance scenario — a new Arab‑Israeli compact 

History proves that courage can rewrite destiny. When Egyptian President Anwar Sadat made peace with Israel in 1979, he was condemned across the Arab world — yet his boldness built the foundation of modern regional stability. 

Today’s leaders face a similar choice. If Arab reformers and Israeli visionaries link economic corridors, energy grids and AI‑driven infrastructure, they could transform the ‘war economy’ into a peace economy — creating jobs, dignity and shared destiny for millions of young Arabs. 

A strategy to lock in the light 

Peace must be protected with the same vigilance once used for war. To preserve this dawn: 

Enforce the disarmament clauses of the Gaza accord through a multinational stabilization mission with real teeth, funded by the U.S., Gulf states and the EU. 

Starve Iran’s proxies of cash and narrative — every diverted aid dollar or false grievance must meet swift exposure and penalty. 

Reward reformers, isolate spoilers. States that promote coexistence should earn trade incentives and security partnerships; those that relapse into terror should face diplomatic quarantine.  

This is not nation‑building — it is peace‑proofing: the disciplined engineering of stability. 

Choosing the future 

The Middle East now stands at a crossroads of consequence. Down one path lies renewal — an alliance of nations liberated from fear. Down another lies relapse into the inferno that has burned for generations. The difference will be leadership. 

If Arab reformers and Israeli visionaries link economic corridors, energy grids and AI‑driven infrastructure, they could transform the ‘war economy’ into a peace economy — creating jobs, dignity and shared destiny for millions of young Arabs. 

If America remains engaged — clear‑eyed, strong‑handed and morally grounded — the ‘New Dawn’ President Trump proclaimed before the Knesset could become the defining achievement of our era. But if Washington drifts or the world looks away, Gaza’s fragile peace will fade into memory, and the old fires will reignite. 

A bright horizon 

Yet hope endures. Across the Middle East, from Jerusalem to Riyadh, young men and women are daring to imagine a future not ruled by grievance but by greatness. Trade routes reopen. Technology hubs rise. Faith and freedom, long estranged, begin to walk together. 

The Middle East has lived too long in the valley of shadows. Now it stands on the ridge of renewal — and if America continues to lead with faith and firmness, the dawn that rose over Gaza could light the world. 

This post appeared first on FOX NEWS

Republican lawmakers have spent the week sharpening their attacks on Saturday’s nationwide day of protests against President Donald Trump, which many GOP leaders dismissed as ‘Hate America’ rallies.

Cities across the country are expected to see hundreds of thousands of people come out for the ‘No Kings’ movement, and several congressional Democrats have even said they will attend.

Republicans have seized on the protests as a product of far-left activism, while at the same time arguing Democrats have held firm against the GOP’s plan to end the government shutdown in a bid to please that far-left base.

House Speaker Mike Johnson, R-La., told Fox Business Network he hoped that Democratic leaders who attended would be more willing to accept the GOP’s plan after the demonstrations were over — but he did not sound overly optimistic.

‘It’ll be a collection of wild leftist policy priorities, and that’ll be on display for the whole country. After that’s over, I hope there’s a few Democrats over here who will come to their senses and return to governing the country,’ Johnson said.

‘Right now, I don’t think— it’s my assumption and all of ours that they would not make that concession before that rally’s over because they don’t want to face the angry mob. I mean it’s sad, but that’s where we are.’

House Minority Leader Hakeem Jeffries, D-N.Y., dodged a question on whether he would attend one of the rallies on Friday, telling reporters, ‘I haven’t finalized my schedule for the weekend given, you know, the sensitivities around the government shutdown. I’m still very hopeful that Republicans will decide to show up for work so we can get the government back open.’

‘But I support the right of every single American to participate in the rallies that are going to take place this week and showing up to express dissent against an out-of-control administration,’ he said.

However, Senate Minority Leader Chuck Schumer, D-N.Y., said he would attend one of the protests, as did House Democratic Caucus Chairman Pete Aguilar, D-Calif.

Rep. Zach Nunn, R-Iowa, predicted more top Democratic figures would go but, like Johnson, signaled hope that they would acquiesce to Republicans’ demands when it was over.

‘My guess is if they don’t want a primary from the left, they’ll probably find a way to sneak it into their schedule. The real question that’s going to be is, do they have the fortitude after Saturday to come back and open up the government?’ Nunn told Fox News Digital earlier this week.

‘They should be doing it today. But if they feel like they’ve got to appease their base, then they better come to Jesus on Sunday and figure out a way to help them get back to the business of taking care of the American people.’

House GOP leaders also criticized the rallies at nearly every one of their daily shutdown press conferences this week.

Majority Leader Steve Scalise, R-La., said Friday that Schumer was ‘more concerned’ with ‘impressing the ‘Hate America’ rally crowd that’s coming up here tomorrow than he is about not solving all of our problems tomorrow.’

And House Majority Whip Tom Emmer, R-Minn., told Fox News’ Maria Bartiromo on Tuesday of the rallies’ place in the shutdown fight, ‘The rumor is that they can’t end the shutdown beforehand, because a small but very violent and vocal group is the only one that’s happy about this.’

‘If they shut it down beforehand, then they’ve got to deal with that group beforehand. If they make it through that, then at least they’ve made it through their Hate America rally, and then they can get this thing done,’ Emmer said.

The House passed a bill to keep the federal government funded at current levels through Nov. 21, called a continuing resolution (CR), mostly along party lines last month.

It’s since failed 10 times in the Senate, with a majority of Democrats rejecting any spending deal that does not also include an extension of COVID-19 pandemic-era Obamacare subsidies that will expire at the end of this year without congressional action.

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Israel announced Saturday that the latest remains handed over by Hamas via the Red Cross were that of a deceased hostage.

The Israel Defense Forces (IDF) identified the deceased hostage as Eliyahu Margalit, known by many as ‘Churchill,’ who was murdered during the Oct. 7, 2023, attacks. It also underscored that ‘Hamas is required to fulfill its part of the agreement and make the necessary efforts to return all the hostages to their families and to a dignified burial.’

Israel said Margalit was killed at the horse stables in Kibbutz Nir Oz and that his body was then taken into Gaza, where it was held for more than two years. The IDF initially confirmed Margalit’s death in December 2023.

Margalit’s daughter, Nili Margalit, was also taken hostage but was released during the brief November 2023 ceasefire. He leaves behind a wife, three children and grandchildren.

‘The government of Israel shares in the deep sorrow of the Margalit family and all the families of the fallen abductees,’ Israeli Prime Minister Benjamin Netanyahu’s office said in a statement. ‘The government and the entire Israeli Public Security Bureau are determined, committed and working tirelessly to return all of our fallen abductees for a proper burial in their country.’

Margalit’s loved ones said he went to feed his beloved horses early in the morning on Oct. 7 and that the horses were taken along with him, according to The Times of Israel. The outlet added that Margalit was responsible for the kibbutz’s cattle for many years.

‘Our beloved Eli has returned home, 742 days after he was murdered and kidnapped from Kibbutz Nir Oz. We thank the people of Israel and the Hostage Families Forum for their support in the long struggle for his return, and promise that we will not stop or rest until the last of the hostages is returned for burial in Israel,’ the family said in a statement, according to The Times of Israel.

The Hostages and Missing Families Forum, which was established in the wake of the Oct. 7 massacre, expressed condolences to Margalit’s family.

‘The families of the hostages and the released embrace the family of Eliyahu ‘Churchill’ Margalit at this difficult time, following the return of their beloved Eliyahu z’l to Israel last night for a proper burial,’ the forum wrote. ‘Alongside the grief and the understanding that their hearts will never be whole again, Eliyahu’s return brings some measure of solace to a family that has lived in unbearable uncertainty and doubt for over two years. We will not rest until all 18 hostages are brought home.’

The forum noted that Margalit was ‘a cowboy at heart’ and was linked to an organization known as ‘Riders of the South,’ which has been bringing horseback riding enthusiasts together for more than 50 years.

Margalit is the 10th deceased hostage to be returned to Israel, while the remains of 18 others are still in Gaza. Two of the deceased hostages whose bodies have not been returned are Itay Chen, 19, and Omer Neutra, 21, both of whom are U.S. citizens.

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Tomahawks, Tomahawks, Tomahawks. That’s the word buzzing in the ears of Russian President Vladimir Putin, as President Donald Trump weighs providing America’s precision strike missile of choice to Ukraine.   

Since May, Trump has bombed the Houthis in Yemen, obliterated Iran’s nuclear facilities and hit narco-terrorist drug boats in the Caribbean.  Putin has to realize that Tomahawks could soon be in the skies over Russia.

What can Ukraine hit with the 1000-mile range Tomahawks? Start with the Shahed drone factory in Tatarstan, and at least 67 Russian airbases. Tomahawks in Ukraine’s hands rip open Russian energy infrastructure to precision attack with no warning.

If Ukraine launches Tomahawks, they’ll be flying as low as 100 feet, hugging the terrain, evading radar. TLAMs can each take separate routes at 500 mph then meet up over the Russian target for a coordinated strike.

Trump is baiting Putin. ‘Hopefully, they won’t need it,’ Trump said of the Tomahawks at Friday’s lunch with Ukrainian President Volodymyr Zelenskyy at the White House. Trump said he’d like to ‘get the war over without Tomahawks’ but then went on to describe the missiles as ‘very dangerous’ and ‘incredible.’

Here’s the backstory on the Tomahawks, and why Trump is keeping them on the table to pressure Putin.  

Built for the Russian target set

First tested in 1972, the Tomahawk Land Attack Cruise Missile or TLAM was actually developed by the U.S. Navy during the Cold War to attack targets on land in the Soviet Union. In case you haven’t seen one up close, the Tomahawk is 20 feet long but just 21 inches wide.  It looks like a white pole with wiglets, but inside is a powerful turbo-fan engine and sophisticated guidance. Today’s Block IV Tomahawks can be retargeted in flight, and loiter over a target for hours, taking electro-optical scans and waiting for other missiles to arrive before detonating. They carry a unitary warhead for harder targets, or dispense cluster munitions over a wide pattern to hit airfields, for example. (Yes, there was once a nuclear TLAM variant with a 200 Kiloton warhead, but they were placed in storage in 1991 and eliminated in 2010.) 

Air Defense Nightmare 

The presence of Tomahawks in Ukraine will set up an almost insoluble air defense problem for Putin. No way can Russia place air defenses at every remote gas pipeline point or cover all the airbases where planes park out in the open.  

Fast delivery

TLAMs could be in Ukraine in 24 hours. The Army Mid-Range Capability missile system is a tractor-trailer missile launcher that can be driven onto a U.S. Air Force C-17 cargo plane. The Army deployed TLAM launcher 8,000 miles away to North Luzon in the Philippines in under 15 hours last year for a wargame. Trump has plenty of time.  

Deterring Putin. The brutal escalation of mass attacks by Russia led Ukraine to ramp up its drone strikes on Russian energy starting in August. According to a Reuters study, Ukraine’s drones have hit 18 pumping stations, plus 32 strikes on refineries. Ukraine’s Liutyi drones have a range of about 600 miles and carry warheads of about 50 pounds. Mixing in TLAMs would intensify pressure on Russian energy, Putin’s single biggest source of government revenue. Zelenskyy has called Ukraine’s drone attacks on Russian energy ‘the sanctions that work the fastest.’

Don’t worry about depleting TLAM inventory

The U.S. still has about 4,000 Tomahawks in its inventory, and new missiles like the U.S. Navy’s SM-6 are already in action. The U.S. Army deployed its new Dark Eagle long-range hypersonic weapons to Australia in August and will have its first full battery by December. By the way, last year Japan bought 400 Tomahawks for targeting China and North Korea.  

Combat Record

Tomahawks have piled up an incredible combat record since Jan. 17, 1991, when 122 TLAMs hit Iraqi oil and command and control targets at the start of Operation Desert Storm. Eight-hundred TLAMs were fired in Operation Iraqi Freedom in 2003. Over the years, Tomahawks have hit targets in Iraq, Serbia, Afghanistan, Libya, Syria, Yemen and, of course, Iran. On June 22, TLAMs hit above-ground ‘key surface infrastructure targets’ in the nuclear complex at Isfhahan, according to Chairman of the Joint Chiefs of Staff Gen. Dan Caine. The TLAM strikes left the sprawling site visibly damaged and blackened. ‘We gave it a capper with 30 TLAMS,’ as Trump said Friday. 

Putin may yell and scream about Tomahawks for Ukraine. Pay no attention. He’s grumbled about each weapon system, from F-16s to Patriots. And no, Putin does not dare escalate with nuclear weapons in Ukraine, because the wind patterns blow radiation clouds back into Russia.  

As Trump said Friday: ‘Yeah, its escalation. But we’re going to talk about it anyway.’  

This post appeared first on FOX NEWS

The U.S. National Highway Traffic Safety Administration (NHTSA) has opened a new investigation into 2.88 million Tesla vehicles running ‘Full Self-Driving’ (FSD). Officials say the system may be breaking traffic laws, and worse, causing accidents. According to Reuters, 58 reports describe Teslas blowing through red lights, drifting into the wrong lanes and even crashing at intersections. Fourteen of those cases involved actual crashes, and 23 caused injuries.

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Red lights, train tracks and trouble ahead

In one striking pattern, six Tesla vehicles reportedly ran red lights before colliding with other cars. One driver in Houston complained that FSD ‘is not recognizing traffic signals,’ saying the car stopped at green lights but ran through reds. The driver even said Tesla saw the issue firsthand during a test drive, but refused to fix it. The agency is also reviewing new reports that some Teslas using FSD failed to handle railroad crossings safely, with one case involving a near-collision with an oncoming train.

Mounting legal and safety scrutiny

This is far from Tesla’s first brush with regulators. The company is already facing several investigations tied to both its Autopilot and FSD systems. In one high-profile case, a California jury ordered Tesla to pay $329 million after an Autopilot-related crash killed a woman. Another investigation is looking into Tesla’s limited Robotaxi service in Austin, Texas, where passengers reported erratic driving and speeding — even with human safety drivers onboard. Meanwhile, Tesla is still fighting a false advertising lawsuit from California’s DMV. Regulators say calling the software ‘Full Self-Driving’ is misleading since it requires constant driver supervision. Tesla recently changed the name to ‘Full Self-Driving (Supervised)’ to reflect that reality.

Regulators say more crashes may come

Tesla’s latest FSD software update arrived just days before the investigation began. But the NHTSA says the system has already ‘induced vehicle behavior that violated traffic safety laws.’ This investigation, now in its early stages, could lead to a recall if the agency finds Tesla’s self-driving software poses a safety risk.

What this means for you

If you drive a Tesla with FSD enabled, stay alert. The system isn’t fully autonomous, no matter what the name suggests. You should:

  • Keep your hands on the wheel and eyes on the road at all times.
  • Manually override the system when approaching intersections, crosswalks or railroad tracks.
  • Check for Tesla software updates regularly — they may include critical safety fixes.
  • Report any unsafe FSD behavior to NHTSA.

For everyone else, this investigation is a reminder that ‘self-driving’ still means supervised driving.

Think your devices and data are truly protected? Take this quick quiz to see where your digital habits stand. From passwords to Wi-Fi settings, you’ll get a personalized breakdown of what you’re doing right and what needs improvement. Take my Quiz here: Cyberguy.com.

Kurt’s key takeaways

Tesla’s dream of a fully autonomous future keeps hitting speed bumps. With safety regulators circling and lawsuits piling up, the company’s next moves will shape public trust in AI-driven transportation. Still, the push toward automation isn’t slowing down; it’s just under heavier watch.

How much control would you give an AI behind the wheel? Let us know by writing to us at Cyberguy.com.

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President Donald Trump kicked off the week with a major breakthrough brokering a ceasefire agreement between Israel and Hamas, and closed out the week seeking to make progress on the next global conflict: Ukraine. 

Trump met with Israeli lawmakers in the Knesset on Monday, before heading to Egypt where he met with leaders there as well as Qatar, Turkey and other regional powers. The president urged countries in the region to ‘put the old feuds and bitter hatreds behind us.’

‘At long last, we have peace in the Middle East, and it’s a very simple expression, peace in the Middle East,’ Trump told reporters in Sharm el-Sheikh, Egypt.

‘We’ve heard it for many years, but nobody thought it could ever get there. And now we’re there,’ Trump said. 

The peace deal in the Middle East includes a provision to return the hostages that were still in captivity within 72 hours of Hamas signing off on the deal. It also called for Israeli forces to withdraw its troops and a complete disarmament of Hamas.

Now, Trump has said that he will set his sights on resolving the conflict between Russia and Ukraine. Trump spoke with Russian President Vladimir Putin on Thursday, and met with Ukrainian President Volodymyr Zelenskyy Friday at the White House. 

While Trump said that there is momentum to solve the conflict on the heels of the peace deal in the Middle East, there is ‘tremendous bad blood’ between Putin and Zelenskyy that is stalling a resolution. 

‘They have tremendous bad blood,’ Trump told reporters. ‘It’s really is what is holding up I think a settlement. I think we are going to get it done, and we have to make it long-lasting, as I said in the Middle East, everlasting.’ 

‘The Middle East is a much more complicated situation. You know, we had 59 countries involved, and every one of them agreed. And it’s, you know, it’s sort of amazing. Most people didn’t think that was doable. This is going to be something I really believe that’s going to get done. I had a very good talk yesterday with President Putin. I think he wants to get it done,’ Trump said. 

Meanwhile, Zelenskyy said that Trump has a big opportunity to make headway on mediating an end to the conflict. 

‘President Trump has really showed for the world that he can manage a ceasefire in the Middle East. And that’s why I hope that he will do this. And we will also have such big success. For Ukraine, it’s a big chance, and I hope that President Trump can manage it,’ Zelenskyy said Friday. 

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Vince Lanci of Echobay Partners explains what’s driving silver’s record-setting price run.

According to Lanci, who is also a professor at the University of Connecticut and publisher of the GoldFix newsletter on Substack, the London market is facing a liquidity crisis as nations that would typically sell or lend their silver choose to keep the metal at home.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

  • MAVERIC Phase III pivotal trial of orphan drug candidate CardiolRx in recurrent pericarditis is fully funded through to a planned New Drug Application submission with the FDA.

  • New data from the ARCHER trial, highlighting the magnitude of reduction in left ventricular (LV) mass and the read through to heart failure, to be presented at a cardiology conference in November 2025.

  • Next-generation therapy CRD-38 for heart failure funded through to clinical development, with partnership discussions advancing with leading pharmaceutical companies.

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) (‘Cardiol’ or the ‘Company’), a clinical-stage life sciences company advancing late-stage, anti-inflammatory and anti-fibrotic therapies for heart disease, today announced the successful completion of a private placement offering (the ‘Offering’) of units (‘Units’) for net proceeds of US$11 million. The initial closing of US$10 million has been completed, with the remaining US$1 million to close on Monday, October 20, 2025.

‘As recruitment in our pivotal Phase III MAVERIC trial gains momentum, with several prominent centers across the U.S. now enrolling patients, we are pleased to have secured a direct investment of US$11 million to strengthen our balance sheet and accelerate the development of our novel heart failure drug, CRD-38, based on the recently reported findings from our ARCHER trial,’ said David Elsley, President and CEO of Cardiol Therapeutics. ‘Topline results from our ARCHER trial demonstrated a significant reduction in LV mass-marking the first evidence of structural and remodeling improvement in patients with myocarditis. This landmark finding represents our second clinical validation in inflammatory heart disease and establishes a key translational link to data published earlier this year in the Journal of the American College of Cardiology, which demonstrated the beneficial effects of the active pharmaceutical ingredient or API in CardiolRx on cardiac structure, inflammation, and fibrosis in a model of heart failure. The ARCHER findings support pursuing an additional Orphan Drug Designation for CardiolRx in myocarditis and advancing the development of our next-generation CRD-38 formulation, which delivers the same API via subcutaneous administration, to target the broader heart failure market. Notably, blockbuster drugs that reduce LV mass have been shown to lower heart failure-related death and hospitalization, underscoring the clinical potential of Cardiol’s differentiated anti-inflammatory mechanism to address a large unmet need in heart failure, where five-year mortality rates still exceed 50%.’

Under the Offering, the Company sold a total of 11 million Units at a price of US$1.00 per Unit. Each Unit consists of one Class A common share of the Company (a ‘Common Share‘) and one-half of one Common Share purchase warrant. Each whole warrant entitles the holder to acquire one additional Common Share at an exercise price of US$1.35 for a period of 24 months from the date of issuance. The warrants include an acceleration provision, allowing the Company to advance their expiry to the 30th day following the issuance of a news release if the daily volume-weighted average trading price of the Common Shares exceeds US$2.00 for five consecutive trading days. Proceeds from the Offering provide cash resources that are anticipated to support operations into the third quarter of 2027.

The securities have not been registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act‘), or any U.S. state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the ‘United States’ or ‘U.S. persons’ (as such terms are used in Regulation S under the U.S. Securities Act), absent registration under the U.S. Securities Act and all applicable U.S. state securities laws or in compliance with an exemption therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Certain insiders of the Company participated in the Offering. Such participation is considered to be a ‘related-party transaction’ within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘MI 61-101‘). The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related-party participation in the Offering as the fair market value (as determined under MI 61-101) of the subject matter of, and the fair market value of the consideration for, the transaction, insofar as it involved interested parties, did not exceed 25% of the Company’s market capitalization (as determined under MI 61-101).

About Cardiol Therapeutics

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) is a clinical-stage life sciences company advancing late-stage, anti-inflammatory and anti-fibrotic therapies for heart disease. The Company’s lead small molecule drug candidate, CardiolRx, modulates inflammasome pathway activation, an intracellular process known to play an important role in the development and progression of inflammation and fibrosis associated with pericarditis, myocarditis, and heart failure.

The MAVERIC Program in recurrent pericarditis, an inflammatory disease of the pericardium which is associated with symptoms including debilitating chest pain, shortness of breath, and fatigue, and results in physical limitations, reduced quality of life, emergency department visits, and hospitalizations, comprises the completed Phase II MAvERIC-Pilot study (NCT05494788) and the ongoing pivotal Phase III MAVERIC trial (NCT06708299). The U.S. FDA has granted Orphan Drug Designation to CardiolRx for the treatment of pericarditis, which includes recurrent pericarditis.

The ARCHER Program (NCT05180240) comprises the completed Phase II study in acute myocarditis, an important cause of acute and fulminant heart failure in young adults and a leading cause of sudden cardiac death in people less than 35 years of age.

Cardiol is also developing CRD-38, a novel subcutaneously administered drug formulation intended for use in heart failure-a leading cause of death and hospitalization in the developed world, with associated healthcare costs in the United States exceeding US$30 billion annually.

For more information about Cardiol Therapeutics, please visit cardiolrx.com.

Cautionary statement regarding forward-looking information:

This news release contains ‘forward-looking information’ within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events, or developments that Cardiol believes, expects, or anticipates will, may, could, or might occur in the future are ‘forward-looking information’. Forward-looking information contained herein may include, but is not limited to statements regarding the Company’s focus on developing anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease, the Company’s intended clinical studies and trial activities and timelines associated with such activities, including the Company’s plan to complete the Phase III study in recurrent pericarditis with CardiolRx, the Company’s plan to advance the development of CRD-38, a novel subcutaneous formulation intended for use in heart failure, the Company’s presentation and publication of the comprehensive ARCHER trial data, the Company’s belief that results from the ARCHER trial provide compelling clinical proof of concept for CardiolRx and strongly support advancing the clinical development of CardiolRx and CRD-38 for the treatment of inflammatory cardiac disorders including cardiomyopathies, heart failure, and myocarditis, and statements regarding the expected length and scope of funding for the Company’s development plans as a result of the Offering. Forward-looking information contained herein reflects the current expectations or beliefs of Cardiol based on information currently available to it and is based on certain assumptions and is also subject to a variety of known and unknown risks and uncertainties and other factors that could cause the actual events or results to differ materially from any future results, performance or achievements expressed or implied by the forward looking information, and are not (and should not be considered to be) guarantees of future performance. These risks and uncertainties and other factors include the risks and uncertainties referred to in the Company’s Annual Information Form filed with the Canadian securities administrators and U.S. Securities and Exchange Commission on March 31, 2025, available on SEDAR+ at sedarplus.ca and EDGAR at sec.gov, as well as the risks and uncertainties associated with product commercialization and clinical studies. These assumptions, risks, uncertainties, and other factors should be considered carefully, and investors should not place undue reliance on the forward-looking information, and such information may not be appropriate for other purposes. Any forward-looking information speaks only as of the date of this press release and, except as may be required by applicable securities laws, Cardiol disclaims any intent or obligation to update or revise such forward-looking information, whether as a result of new information, future events, or results, or otherwise. Investors are cautioned not to rely on these forward-looking statements.

For further information, please contact:
Trevor Burns, Investor Relations +1-289-910-0855
trevor.burns@cardiolrx.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270946

News Provided by Newsfile via QuoteMedia

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The Government of Ontario started taking applications for resource development projects under its “One Project, One Process” framework on Friday (October 17).

The new process, which Ontario lawmakers introduced in the spring, promises to streamline and reduce the permitting time for selected projects by at least half, introducing a dedicated office to consolidate applications. Under the current system, the permitting process can add up to 15 years to a project’s development cycle, the government stated.

In addition to supporting Ontario’s mining industry, the new framework is also a reaction to policy shifts in the United States under the Trump administration, as his tariff policy affects the Ontario and Canadian economies.

“With President Trump taking direct aim at our economy, it has never been more important to protect Ontario jobs and build the mines that will power our future,” said Stephen Lecce, Minister of Energy and Mines.

The new policy is similar to the national one introduced by Prime Minister Mark Carney in September. That program, which created the Major Projects Office, is geared to support investment and permitting for projects deemed to be in the national interest. The initiative was part of his election platform earlier in the year in response to Trump’s tariffs on imports of Canadian goods.

In a speech to the Peterson Institute of International Economics on Thursday (October 16), Bank of Canada Governor Tiff Macklem stated that Canada’s growth outlook remains “soft.”

He identified several trends that are affecting Canadian and global economies. The first is a slowing of global trade that began in 2010, which then accelerated as Trump increased tariff rates to the highest levels since the 1930s.

The second is a shift away from the US as the world’s largest trading hub, as supply chains strengthen in China and Europe, creating new hubs there. Macklem also noted that, while the US remains dominant in global finance, investors have expressed uncertainty due to its declining trade position and increasing debt load.

For Canada, Macklem said the tariffs have affected cross-border trade and stymied investment into Canadian industries, weakening gross domestic product growth.

Although it’s uncertain if the Bank of Canada will cut its rate when it makes its next policy decision on October 29, Macklem said, “Monetary policy cannot undo the damage of tariffs.” Instead, he suggested that Canada needs to lower barriers to interprovincial trade and focus on projects that increase the export of Canadian goods overseas.

South of the border, Federal Reserve Chairman Jerome Powell gave a speech on Tuesday (October 14) to the National Association of Business Economics in Philadelphia. In his remarks, he said the outlook for the jobs market and inflation has not changed since September, and signaled the likelihood of another rate cut when the Federal Open Market Committee meets on October 28 and 29.

In the days following Powell’s remarks, the price of gold surged to a new record high of US$4,379.13 on Thursday, and silver rose to a new record of US$54.40 per ounce. Both have since retreated, but remain elevated.

For more on what’s moving markets this week, check out our top market news round-up.

Markets and commodities react

Canadian equity markets were down this week.

The S&P/TSX Composite Index (INDEXTSI:OSPTX) lost 0.71 percent over the week to close Friday at 30,108.48.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) fared worse, ending the week down 3.85 percent at 965.58. The CSE Composite Index (CSE:CSECOMP) also fell this week, shedding 5.33 percent to close out the week at 179.76.

The gold price set another new record, reaching an intraday high of US$4,379.13 per ounce in early morning trading Friday EST before retreating to US$4,252.69 by Friday’s close. Ultimately, gold was up 5.82 percent over the week.

The silver price also gained significantly this week, again breaking its own all-time high in early trading Friday when it reached US$54.47 per ounce. However, it had pulled back US$51.76 by 4:00 p.m. EDT Friday, posting a weekly gain of 3.46 percent.

The copper price was flat on the week, down just 0.2 percent to US$5.03 per pound.

The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) fell 2.23 percent to end Friday at 539.84.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stocks data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. JZR Gold (TSXV:JZR)

Weekly gain: 112.77 percent
Market cap: C$28.95 million
Share price: C$0.50

JZR Gold is a gold company with exposure to the Vila Nova gold project, located in Amapá, Brazil, through a joint venture royalty agreement with the project’s operator, ECO Mining Oil & Gaz Drilling and Exploration.

JZR received a 50 percent net profit interest in the Vila Nova project following the completion of payments totaling US$6 million to ECO in January 2023. The funds were used to advance the project and construct an 800 metric ton per day bulk sampling gravimetric mill at the site.

According to JZR, the funding is considered a loan and will be “repaid to the Company from the proceeds of the sale of any products, prior to the distribution of any profits.”

The project holds approximately 9 million metric tons of gold tailings grading an average of 2.47 grams per metric ton (g/t) gold from historic operations. The companies plan to reprocess the tailings to generate near-term cash flow that will fund further exploration at the site, anticipating production of 2 kilograms of gold per day.

Shares gained this week alongside the October 14 news that ECO produced the first gold concentrate from the Vila Nova gold project’s mill. JZR said that ECO has begun to stockpile material at the mill site as it continues testing and optimization, with the goal of improving efficiency and increasing throughput.

2. Austral Gold (TSXV:AGLD)

Weekly gain: 90 percent
Market cap: C$75.37 million
Share price: C$0.095

Austral Gold is a gold production company operating two mines in Latin America.

Its Guanaco – Amancaya mine complex in Chile is its primary operation, hosting a 1,500 metric ton per day milling circuit, a 3,000 metric ton per day crushing circuit and a heap leaching processing plant. In 2024, the complex produced 15,138 ounces of gold and 37,154 ounces of silver.

Austral’s other operation is the Casposo – Manantiales complex in Argentina, which hosts a 1,100 metric ton per day mill and a dry-stack tailings facility. The mine had been on care and maintenance since 2019, during which time Austral worked on exploration at the site, along with its refurbishment plan to restart operations.

Shares in Austral rose this week following a pair of announcements on Tuesday.

The first was a report that Austral has resumed production at Casposo, currently sourcing material from the existing stockpiles. The company said it plans to transition to open-pit mining and is in negotiations with a contractor to finalize an agreement.

The company produced 230 gold equivalent ounces of doré during the commissioning phase, which began in December 2024, according to the release. It expects Casposo to produce 4,000 to 6,000 gold equivalent ounces during Q4.

In the other release, Austral provided an updated mineral reserve estimate for Casposo reporting proven and probable gold contained to be 80,000 ounces of gold and 3.28 million ounces of silver with average grades of 1.31 g/t gold and 58.52 g/t silver from 2.15 million metric tons of ore.

3. Resouro Strategic Metals (TSXV:RSM)

Weekly gain: 88.64 percent
Market cap: C$29.14 million
Share price: C$0.415

Resouro Strategic Metals is a polymetallic exploration and development company working to advance its mineral properties in Brazil.

Its Tiros rare earth metals and titanium project is located in Minas Gerais, Brazil, and comprises 28 mineral rights covering an area of 497 square kilometers.

According to a May 2025 technical report, the site hosts a measured and indicated resource of 1.4 billion metric tons of ore grading 12 percent titanium dioxide and 4,000 parts per million of total rare earth content.

The company also owns the Novo Mundo gold project located in the Alta Floresta gold province in Central Brazil. It consists of three licenses totaling 167 square kilometers.

On Tuesday, Resouro provided an update to its ongoing private placement, noting that it had received subscription agreements and expects to close in the next week.

4. Nio Strategic Metals (TSXV:NIO)

Weekly gain: 75 percent
Market cap: C$16.24 million
Share price: C$0.175

Nio Strategic Metals is an exploration company working to advance its assets in Québec, Canada.

Its primary focus has been on its Oka rare earth and critical minerals project. The property hosts a past-producing niobium mine and several nearby mineralized zones.

According to the project page, Oka’s total measured and indicated resource is 10.63 million metric tons of ore at an average grade of 0.65 percent niobium oxide.

While the company did not release any news this week, shares in Nio Strategic Metals rose significantly.

5. Boron One (TSXV:BONE)

Weekly gain: 71 percent
Market cap: C$14.92 million
Share price: C$0.06

Boron One is an exploration company focused on advancing its Piskanja project located near Belgrade, Serbia.

The asset hosts two primary densely mineralized zones with gently undulating borate beds. The company was initially granted its exploration license in 2010, with the exclusive right to apply for a mining license.

In a preliminary economic assessment for the project released in June 2022, Boron One, then named Erin Ventures, reported an economic case with an after-tax, net present value of US$524.9 million with an internal rate of return of 78.7 percent and a payback period of 12 months.

It also provided a mineral resource statement that demonstrated a measured and indicated resource of 2.36 million metric tons of boric oxide from 6.87 million metric tons of ore with an average grade of 34.36 percent boric oxide.

The most recent news from the project came on September 26 when the company provided an update on its application for a mining license, noting the Ministry of Mining has requested amendments to the company’s application before it can be approved.

Boron One said it is preparing the revised version “as quickly as possible.”

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 of those being mining companies.

Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

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