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This Mark-Cuban-Backed Company Is Creating Waves In The Creator Economy

Overplay

By Faith Ashmore, Benzinga Ever since the pandemic, the creator economy has taken off in ways that few would have predicted. While the 21st century had already seen YouTube stars making seven-figure salaries, the pandemic made the creator economy far more accessible to a larger number of people. In 2023, the creator economy was worth $250 billion, and it is predicted that by 2027, it could reach more than $480 billion. According to a report by Goldman Sachs Research, it's expected that 50 million global creators will grow at a 10-20% compound annual growth rate during the next five years. This significant expansion in the creator economy has ample room for continued development. Individuals are finding new opportunities to monetize their skills and creativity across a number of platforms. This has led to an increase in the variety of content being produced, from vlogs and tutorials to artwork and music. The rise of subscription-based platforms and the implementation of creator monetization tools has further fueled this expansion, providing creators with the means to generate income directly from their fanbase. Of course, earning their share in ad revenue remains important for creators who are monetizing on platforms like YouTube, TikTok and Instagram. However, while user-generated content is becoming more and more valuable, this trend hasn’t yet fully emerged in the gaming format because games until now have been difficult, time-consuming and expensive to make. A New Creator Platform That Leverages Interest In Video Games In today's digital landscape, where, according to YouTube, 1 billion hours of video are watched on YouTube daily, and short-form videos are found to be highly engaging by almost 70% of consumers, Overplay has emerged as a revolutionary addition to the creator economy. Overplay empowers creators to effortlessly transform their videos into interactive games, requiring no coding skills. This game-changing solution addresses the demand for engaging and interactive content, enabling creators to tap into the world of gaming in just minutes. The platform also helps content creators do more with their existing content, making playable experiences for their fans without intensive labor. Overplay extends its value to brands as well, offering the opportunity to create playable game ads at a fraction of the cost and time required by traditional methods. Imagine the NBA creating playable highlight reels, movie studios releasing trailers that are games and car companies making commercials where you virtually test drive their cars! Moreover, playable ads yield a 7x higher conversion rate compared to other ad formats. The company's success is evident through impressive figures, including over hundreds of thousands of app downloads and millions of games played. When stacked against a regular YouTube video, a gamified version of that same video garners 23 times more engagement, proving the significant potential of Overplay as a new approach to content creation and consumption. When Overplay appeared on the latest season of Shark Tank, it was no surprise that the company managed to catch the attention and investment of Mark Cuban, who later said at SXSW, “I like to geek out with the good stuff, Overplay is the good stuff!” Overplay operates at the nexus of a $574 billion digital media landscape that encompasses social media, advertising and gaming and is revolutionizing content creation. It introduces fresh, lean-in interactive experiences that surpass the lean-back approach to video that we are all used to. Recognizing the need for faster and cost-effective game development, the founders of Overplay have harnessed the power of interactivity to create content that is highly replayable and, as a result, more valuable to both creators and players alike, especially as they strive to achieve high scores. With its innovative approach, Overplay is making its mark as a transformative force within the creator economy. Featured photo by Andre Hunter on Unsplash. Overplay is revolutionizing a $574 billion digital media landscape with the first frictionless platform for user-generated games.With Overplay, everyone can turn their videos into games and share them with the world — in minutes, for free, with no code. Overplay’s app can be used to quickly and easily make games from anything: funny moments with your friends, cat memes, cooking tutorials, extreme sports POVs, and more!Imagine the NBA creating playable highlights reels, movie studios releasing trailers that are games, and car companies making commercials where you virtually test drive their cars. Overplay’s app and licensable technology allows billions of creators, social media users, and brands to amplify audience engagement by making their content interactive.Overplay sits at the intersection of three massive markets: social media, video advertising, and casual gaming. We are merging everything that makes these markets successful into one revolutionary form of digital media that will be consumed and created by BILLIONs of potential Overplayers worldwideWith Overplay’s API, brands can apply a thin layer of gaming on top of videos already being streamed in advertisements. Because our technology is so simple and takes only a few minutes, Overplay cuts down on thousands of hours of production time and millions of dollars in costs for brands to leverage this highly engaging ad format. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Caroline Strzalka caroline@overplay.com Company Website https://overplay.com/

May 30, 2024 08:40 AM Eastern Daylight Time

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BitFuFu Q1 Earnings: Adjusted EBITDA Up 430.9% To $49.4 Million On Revenue Growth Of 149%, Cash Position Rises To $163.7 Million

Benzinga

By Meg Flippin, Benzinga BitFuFu Inc. (NASDAQ: FUFU), the digital asset mining company based in Singapore, posted first-quarter revenue that soared 149% year-over-year, buoyed by strong demand for its Bitcoin mining services. For the first three months of the year, total revenue was $144.4 million compared to $58 million in the year-ago first quarter. Net income of $35.3 million was much higher than the $2.7 million reported in Q1 2023 while adjusted EBITDA increased 430.9% to $49.4 million. Revenue from BitFuFu’s cloud-mining solutions rose 181% year-over-year, while sales from Bitcoin self-mining operations grew 117%. The company’s cash position also increased, hitting $163.7 million as of the end of March. BitFuFu ended 2023 with $76 million in its coffers. “BitFuFu had a very strong quarter. We are actively taking steps to reduce operational costs, increase margins and decrease our carbon footprint. Our ability to generate cash and strengthen our balance sheet ideally positions us to capitalize on growth opportunities going forward,” Leo Lu, BitFuFu’s chairman and CEO, said on a conference call to discuss first-quarter results with Wall Street. “These factors combine to form what we believe is a compelling strategy that will create long-term sustainable shareholder value.” Key Areas Firing On All Cylinders During the quarter, BitFuFu saw strong growth in key business areas, including registered users, hosting capacity and Bitcoin production by customers. Hosting capacity is up 25.5% to 644 MW, while registered users hit 321,184, a 63.5% increase from last year’s first quarter. The growth in cloud registered users is notable given the market is concentrated with the top five players accounting for 75% of the market in terms of revenue last year, according to data BitFuFu cited from Frost & Sullivan. BitFuFu's ability to increase users amid intense competition is a testament to its leadership. The company says it's the largest player in this segment, accounting for a third of the market in 2023. That may appeal to investors, given the growth of BitFuFu’s U.S. counterparts. Take Riot Platforms Inc. (NASDAQ: RIOT) for starters. The company, which is known for keeping costs for customers at bay, is in acquisition mode, recently offering $930 million to acquire bitcoin miner Bitfarms Ltd. (NASDAQ: BITF). Then there is Marathon Digital Holdings Inc. (NASDAQ: MARA), which has seen bitcoin mining output growth similar to BitFuFu. Its stock is up more than 120% compared to a year ago. The same story is playing out at Cleanspark Inc. (NASDAQ: CLSK). Amid brisk demand, its market cap stands at over $4 billion. BitFuFu’s market cap pales in comparison but that may not be for too long if the company has its way. “BitFuFu has experienced significant growth over the past four years as the value proposition of our cloud mining services increasingly gains traction. The one-stop service we provided to customers is a more efficient and convenient way for customers to mine Bitcoin, and a more profitable way for them to acquire Bitcoin at reasonable cost,” said Lu. “During the first quarter, demand for cloud mining services continued to grow, driven in large part by the increase in the price of Bitcoin.” Bitcoin production by customers from cloud-mining solutions increased 53.0% to 2,096 BTCs. Meanwhile, the cost to mine BTC from self-mining operations averaged $39,182 per BTC versus US$21,908 per BTC in 2023. Total mining capacity under management increased 52.1% to a record 28.6 EH/s, compared to 18.8 EH/S during Q1 2023. Given its position in the market, Lu said the company is confident in its ability to continue growing revenue as it acquires more users (both registered and paying) and expands the number of miners with the strong support of its long-term partner Bitmain Technologies Ltd., which makes Bitcoin mining hardware. Reputation is everything in the cloud mining industry, and counting Bitmain as an exclusive partner gives BitFuFu even more credibility. Keeping Costs At Bay When it comes to running a cloud mining company, keeping costs in line is key to profitability, and BitFuFu kept a focus on it even during the quarter. Take its hosting capacity for one example. Lu said on the call the company is reducing hosting and power costs by exploring opportunities to acquire existing facilities or build new mining infrastructure in the U.S. and other geographies. “We are currently in negotiations with operators of existing mining facilities on the potential for joint ventures or acquisitions. We are also considering greenfield projects. Some of these projects have made meaningful progress and are in the final stages,” said Lu. Then there’s its pursuit of future power supply resources and renewable energy to support its efforts to reduce operational costs, increase revenue streams and achieve carbon-neutral operations. To hedge against grid dependency and the fluctuating cost of power, which Lu said is crucial to stabilizing operations, BitFuFu is exploring off-grid opportunities including flare gas, which to date is underutilized by the industry. “We are excited to announce the launch of our first small-scale flare gas deployment in Texas in partnership with one of the region's most proactive developers,” said BitFuFu’s CEO. ”Following a successful proof-of-concept, we expect the project to be fully operational by the end of 2024 where it will lower our mining costs and increase our gross margins.” Expanding Its Offering If that isn’t enough for the mining services company, BitFuFu is ensuring it continues to drive growth across its business by expanding into new products and services that will benefit the overall industry and make BitFuFu more money. One example is a mining facility management system BitFuFu built for mining facilities it and its partners operate. Currently, the system manages over 50,000 mining rigs and helps the company enhance and refine miner management, including through the timely detection of mining rig failures and potential risks and the ability to directly adjust the operating mode of the machines to optimize their profitability. “In the future, by providing this system to more mining facilities and partners, we believe we can increase BitFuFu's brand recognition and expand our partnerships and resources,” said Lu. When it comes to mining for digital assets through the cloud, speed, reliability and reputation are key to making money. Most are looking for a secure provider that will be around for the long haul. BitFuFu seems to check off all the boxes, and judging from its first-quarter earnings results, customers agree. Featured photo by Kanchanara on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

May 30, 2024 08:35 AM Eastern Daylight Time

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Gladiator Expands Whitehorse Copper Project, Stakes Claims at Jackson Prospect

MarketJar

Disemminated on behalf of Gladiator Metals Corp. Gladiator Metals Corp. (TSX-V:GLAD) (OTCQB:GDTRF) is a mineral exploration company focused on advancing high-grade copper projects. With a strategic emphasis on the Whitehorse Copper Belt in Yukon, Canada, Gladiator is committed to uncovering and developing significant copper resources. The company's exploration efforts have already identified promising copper skarn mineralization at Cowley Park and the newly staked Jackson Copper Skarn prospect. Gladiator ’s team leverages historical data and modern exploration techniques to expand their resource base, aiming to create substantial value for shareholders through the discovery and development of high-grade copper assets. Gladiator Metals Corp. (TSX-V:GLAD) (OTCQB:GDTRF) has recently expanded its Whitehorse Copper Project by staking 55 new claims, adding 11.3 km² of tenure to encompass the Jackson Copper-Skarn prospect. This new prospect lies 15 km west of the existing claims and covers over 6 km of prospective strike between Cretaceous intrusive bodies and Triassic metasediments, which is a key control on mineralization in the Whitehorse Copper Belt. Historical exploration at the Jackson Copper-Skarn prospect has revealed significant potential. Shallow drill results have intersected high-grade copper skarns with notable intersections including 6.12m at 5.61% Cu, 1.03 g/t Au, and 247 g/t Ag from 55.14m, 10.67m at 6.45 g/t Au from 71.02m within 21.88m at 3.45 g/t Au, and 1.99m at 4.0 g/t Au from 19.35m). Undrilled target areas with high-grade copper skarn mineralization have also been identified on the surface. These include the Franklin Target with rock chip samples showing up to 9.4% copper (Cu), 6.36 g/t gold and 30% Cu, the Hamilton Target with samples revealing up to 3.48% Cu (10.4% zinc) and 1.69% Cu (42.9% Zn), and the Janet Target with samples indicating up to 7.85% Cu and 16.59 g/t gold associated with magnetite skarns and elevated Fe values. Initial airborne magnetics conducted by previous explorers have highlighted undrilled high-magnetic anomalies over more than 4.4 km of strike, indicating further exploration potential. Gladiator Metals Corp. (TSX-V:GLAD) (OTCQB:GDTRF) has begun its summer exploration program, which includes mapping and sampling, with drone magnetics planned for later in the season. The Jackson Prospect has been intermittently explored by historical explorers through spatially constrained soil sampling, mapping, trenching, and approximately 1,901m of diamond drilling across 24 drill holes. This historical work, supported by limited airborne magnetics conducted in 2014 by Precision Geophysics, highlighted over 4.4 km of untested magnetic anomalism coinciding with high magnetic response areas, outcropping magnetite-copper skarns, and the mapped contact between Cretaceous intrusions and Triassic limestones. Outside the drilled area, further undrilled and underexplored mineralized targets remain. These are highlighted by high-grade copper skarn mineralization exposed on the surface for over 6 km and include the Franklin Target, the Hamilton Target, and the Janet Target. With the start of summer exploration programs, Gladiator Metals is looking forward to updating the market with further news from the Whitehorse Copper Belt in the coming weeks. Gladiator Metals Announces Significant High-Grade Copper Assay Results from Cowley Park On May 28, Gladiator Metals Corp. (TSX-V:GLAD) (OTCQB:GDTRF) announced assay results for additional historic drill holes at Cowley Park, further defining the high-grade copper skarn mineralization. Key results include 10.3m at 1.92% Cu and 1459 ppm or.15% Mo from 131.7m, 10m at 1.07% Cu from 49m (within 24m at 0.63% Cu from 35m), and 8m at 1.02% Cu from 105m. The results highlight areas for significant exploration upside. The southeastern extension has a potential extension of over 100m to the east. The northeastern extension shows 43.28m @ 2.24% Cu from 93.27m, remaining open to the east. Initial drilling indicates unexplored sub-parallel trends. A significant fault may have displaced the main mineralized body, suggesting potential westward extension. Mineralization remains open at depth, with significant intervals reported. CEO Jason Bontempo emphasized the importance of these findings, noting that they define the continuity and scale of high-grade copper mineralization at Cowley Park and identify new exploration targets for future programs. Click here for more information about Gladiator Metals Corp. (TSX-V:GLAD) (OTCQB:GDTRF). Disclosure: 1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies outlined in this Article. The author determined which companies would be included in this article based on research and understanding of the sector. 2) The Article was issued on behalf of and sponsored by, Gladiator Metals Corp. Market Jar Media Inc. was paid $1,500 USD for the production and publishing of this article by Gladiator Metals Corp.’s Digital Marketing Agency of Record (Native Ads Inc.). Additional details relating to Market Jar Media Inc.’s engagement by Gladiator Metals Corp.’s Digital Marketing Agency of Record (Native Ads Inc.) are set out in https://pressreach.com/disclaimer-glad. 3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. Market Jar has not independently verified or otherwise investigated all such information. None of Market Jar or any of their respective affiliates, guarantee the accuracy or completeness of any such information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy. 4) The Article does not constitute investment advice. All investments carry risk and each reader is encouraged to consult with his or her individual financial professional. Any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on PressReach.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PressReach.com. 5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article. 6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Gladiator Metals Corp.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Gladiator Metals Corp.’s industry; (b) market opportunity; (c) Gladiator Metals Corp.’s business plans and strategies; (d) services that Gladiator Metals Corp. intends to offer; (e) Gladiator Metals Corp.’s milestone projections and targets; (f) Gladiator Metals Corp.’s expectations regarding receipt of approval for regulatory applications; (g) Gladiator Metals Corp.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Gladiator Metals Corp.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Gladiator Metals Corp.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Gladiator Metals Corp.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) the accuracy of budgeted costs and expenditures; (e) Gladiator Metals Corp.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Gladiator Metals Corp. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Gladiator Metals Corp.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Gladiator Metals Corp.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Gladiator Metals Corp.’s business operations (e) Gladiator Metals Corp. may be unable to implement its growth strategy; and (f) increased competition.Except as required by law, Gladiator Metals Corp. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Gladiator Metals Corp. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Gladiator Metals Corp. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document. 7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Gladiator Metals Corp. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Gladiator Metals Corp. or such entities and are not necessarily indicative of future performance of Gladiator Metals Corp. or such entities. 8) Investing is risky. The information provided in this article should not be considered as a substitute for professional financial consultation. Users should be aware that investing in any form carries inherent risks, and as such, there is a possibility of losing some or all of their investment. The value of investments can fluctuate significantly within a short period, and investors must understand that past performance is not indicative of future results. Additionally, users should exercise caution as transactions involving investments may be irreversible, even in cases of fraud or accidental actions. It is crucial to acknowledge that rapidly evolving laws and technical issues can have adverse effects on the usability, transferability, exchangeability, and value of investments. Furthermore, users must be cognizant of potential security risks associated with their investment activities. Individuals are strongly encouraged to conduct thorough research, seek professional advice, and carefully evaluate their risk tolerance before engaging in any investment endeavors. Market Jar Media Inc. is neither an investment adviser nor a broker-dealer. The information presented on the website is provided for informative purposes only and is not to be treated as a recommendation to make any specific investment. No such information on PressReach.com constitutes advice or a recommendation. Contact Details James Young +1 800-340-9767 campaigns@pressreach.com Company Website https://pressreach.com

May 30, 2024 08:30 AM Eastern Daylight Time

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The Meme Stock Revival Saw GameStop (NYSE: GME) Shares Surge Above 120%: VantagePoint’s A.I.-Driven Forecasting Software Saw It Coming A Week Earlier

Benzinga

By James Blacker, Benzinga Meme stocks have once again rocked the financial markets, with GameStop Corp (NYSE: GME) and AMC Entertainment Holdings Inc (NYSE: AMC) seeing dramatic spikes in recent weeks. Shares of GameStop soared 74% on May 13 after social media influencer and investor Keith Gill, who was instrumental in the 2021 meme stock frenzy, made his first social media post in three years. Similarly, other meme stocks saw massive surges, such as AMC, which rose nearly 80%, and Koss Corporation (NASDAQ: KOSS), which more than doubled. While the share prices of GameStop and AMC seem to have now settled down, the resurgence of meme stocks has reignited the discussion about their volatility and unpredictability. While making money with meme socks is possible, it is considered by many to be risky and relies heavily on timing the market. GameStop shares opened at $26.34 on May 13. At the time of writing, however, the stock is trading at $22.12, which means that traders who entered long positions after Gill’s social media posts on May 11 and 12 would be in the red. A month ago, the stock was trading at around $10, which means those who got in early would be up some 120%. Staying Ahead Of The Curve While humans can be notoriously bad at timing the market, advanced predictive tools are invaluable for traders and investors looking to capitalize on events like the meme stock resurgence. Amid such a landscape, the right tools are essential, and VantagePoint’s A.I.-driven market forecasting software has proven its ability to predict the momentum and trends of stocks like GameStop and AMC before they take off, with up to 87.4% historical accuracy. Combined with its dual-patented intermarket analysis, which compiles and analyzes data about the interconnectedness of global markets, VantagePoint reports that its AI software saw the GameStop confirmed trend reversal as early as May 3rd, long before the broader market reacted to it. VantagePoint claims that its software gives traders precise forecasts of a trend’s direction from one to three days in advance, in addition to predictions of the next day’s high and low. It makes forecasts for over 2,300 stocks, ETFs, futures, forex pairs, commodities and cryptocurrencies every single day. The company has been using A.I. to forecast the markets for over three decades, which means three decades that its neural networks have been learning and getting more and more accurate. In line with the company’s vision to empower investors daily, VantagePoint was the first trading software developer in the world to introduce strategy back-testing capabilities in trading software for personal computers. In February 2020, long before the A.I. explosion, the company announced that its predictive accuracy had increased to 87.4%. Since introducing its first trading software in 1983, VantagePoint has grown into a multi-million dollar, Inc. 500, trading software company with over 40,000 customers in more than 160 countries. The company has also won multiple awards, including “Best Predictive A.I. Software For Trading” by A.I. World Finance in 2023. The company also partnered with Benzinga in 2022 for a four-part series to help traders. With the resurgence of social media-driven volatility, VantagePoint’s early insights could give traders and investors the edge they need to stay ahead of the curve. Find out more at www.vantagepointsoftware.com. Featured photo by Yorgos Ntrahas on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. The above (GME) chart is from past data and is atypical. Trading involves risk. Past results do not guarantee future performance. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

May 30, 2024 08:30 AM Eastern Daylight Time

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Atlas Lithium (NASDAQ: ATLX) Positions Itself To Meet Soaring Global Lithium Demand With Strategic Investments From Global Partners

Benzinga

By Mangeet Kaur Bouns The growth of electrification and government mandates for electric vehicles (EVs) have created much excitement around beneficiary industries in recent times, with demand for the metals that will be needed for batteries to power these automobiles and initiatives – such as lithium – rising. Although the initial excitement may have cooled, forecasts still point to a robust demand for lithium by 2030. As the world transitions toward greener and more sustainable energy sources, the demand for lithium is projected to rebound, driven by its critical role in various high-tech and green energy applications. Atlas Lithium Corporation (NASDAQ: ATLX), with its extensive project portfolio and strategic investments, has positioned itself to capitalize on this rising demand, particularly through its operations in Brazil's prolific Lithium Valley. The Critical Role Of Lithium In Modern Life Lithium is indispensable in modern technology. From EVs to smartphones, laptops and renewable energy storage systems, lithium-ion batteries are at the core of the green energy revolution. These batteries not only power our daily devices but also play a vital role in reducing carbon emissions by supporting the transition from fossil fuels to renewable energy sources. Central to reducing greenhouse gas emissions, EVs rely heavily on lithium-ion batteries. These batteries provide the necessary energy storage for EVs, making them key in the shift toward sustainable transportation. Additionally, lithium batteries are crucial for storing energy generated from renewable sources like wind and solar, ensuring a reliable and stable power supply even when the sun isn’t shining or the wind isn’t blowing. Market forecasts highlight the burgeoning demand for lithium. Fastmarkets projects a 487% increase in lithium demand in the U.S. by 2030, reaching almost 412,000 tonnes of lithium carbonate equivalent. Similarly, Future Market Insights expects the lithium-ion battery material market to expand at a compound annual growth rate (CAGR) of 23.9% from 2024 to 2034 to reach $371 billion. This growth is expected to be supported by government incentives like the Inflation Reduction Act (IRA) in the U.S., which boosts the economics of battery production through substantial credits. Atlas Lithium’s Extensive Project Portfolio Atlas Lithium is well-positioned to capitalize on this growing demand. With a market capitalization of close to $230 million, this U.S.-based mineral exploration and development company focuses on lithium and other battery minerals. Its lithium exploration properties span an impressive 539 square kilometers, which the company says is the largest in Brazil. The company’s primary asset is the Minas Gerais Lithium Project (MGLP) in Brazil, which houses the world’s fifth-largest lithium reserves. The MGLP covers approximately 468 square kilometers and comprises 85 mineral rights. This project is situated in the Jequitinhonha Valley, known as Brazil’s Lithium Valley, a region rich in hard-rock lithium deposits, particularly pegmatites, which allow for cost-effective extraction compared to lithium from brines. In addition to lithium, Atlas Lithium’s portfolio includes early-stage projects and properties with other critical minerals such as rare earths, nickel, cobalt, titanium and graphite. These minerals are essential for the battery supply chain and various high-tech applications, further enhancing the company's strategic positioning in the market. Securing Funding Through Strategic Partnerships Atlas Lithium has secured substantial funding and strategic partnerships to advance its projects. The company’s high-quality spodumene has attracted interest from global investors and partners. Atlas Lithium has secured offtake agreements with Chengxin Lithium Group and Yahua Industrial Group, which supply lithium hydroxide to major EV manufacturers like BYD Company (OTC: BYDDY) and Tesla Inc. (NASDAQ: TSLA). These agreements commit a total of $50 million investments, ensuring funding for the first production phase in 2024. In March this year, Atlas Lithium strengthened its financial position through a strategic investment and offtake agreement with Mitsui & Co., Ltd. (OTC: MITSF). Mitsui invested $30 million in Atlas Lithium's common shares and agreed to purchase 15,000 tons of lithium concentrate from phase 1 and 60,000 tons annually for five years from phase 2 of the company’s soon-to-be-producing Neves Project. Chairperson and CEO Marc Fogassa highlighted the company's progress, stating that Atlas is on track to become the second high-grade lithium concentrate producer in Minas Gerais. Using advanced Dense Media Separation (DMS) technology, Atlas aims to produce up to 150,000 metric tons per year of battery-grade spodumene in phase 1, with plans to double this capacity by mid-2025. Progress Toward Production And Environmental Sustainability Atlas Lithium is making strides toward commissioning its modular DMS lithium processing plant, which is expected to be operational by the fourth quarter of 2024. The company says the innovative plant design is environment-friendly, featuring a compact, pre-assembled modular structure that reduces the overall physical footprint and environmental impact. The company’s technical team, with extensive experience from previous lithium projects in Australia, South Africa and Brazil, is spearheading this accelerated development. The plant, significantly lighter and more compact than traditional DMS facilities, is poised to streamline the path to production and revenue generation. Earlier this month, the company’s modular DMS lithium processing plant entered the final stages of fabrication and trial assembly in preparation for its anticipated shipment to the Neves project site in Brazil’s Lithium Valley. Meeting Global Lithium Demand Despite some challenges, such as recently declined lithium prices and market volatility, the long-term outlook for lithium remains strong. Experts predict that prices will stabilize and eventually rise as the market adjusts to the growing demand driven by EV adoption and global decarbonization efforts. Atlas Lithium’s comprehensive project portfolio and strategic advancements position it as a key player in meeting this demand. The company's extensive mineral rights, efficient processing technologies and solid financial backing ensure its future capability to supply high-quality, low-cost lithium concentrate to the global market. As the world transitions toward greener energy sources, aiming to achieve net zero emissions by 2050, Atlas Lithium’s pivotal role in the green energy revolution could become increasingly apparent. Featured photo by Kumpan Electric on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

May 30, 2024 08:25 AM Eastern Daylight Time

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Comcast Expands into Chanhassen with Major Fiber Network

Comcast Twin Cities

Comcast announced today it will continue to significantly expand its next-generation Xfinity network into Chanhassen, Minnesota. The media and technology company will invest millions to install new fiber-rich highways that will provide multi-gig speeds and unmatched reliability to more than 10,500 homes and businesses with a planned completion by the end of 2025. The Chanhassen expansion adds to Comcast’s more than $525 million technology and infrastructure investments across Minnesota over the last three years. Comcast’s planned expansion follows February’s announcement of expanding its smart, fast, reliable fiber-rich network to seven cities in Minnesota, including Cologne and Nowthen, and parts of Corcoran, Grant, Hugo, Rogers and Stillwater Township by the end of 2024. In June 2023, Comcast completed an expansion to more than 2,300 homes and businesses in the City of Wayzata, where area businesses now enjoy Comcast Business’s suite of products, including broadband speeds of up to 100 Gbps, and Xfinity products for residents with Internet speeds faster than a gig over standard connections in the home. “We are pleased to welcome Comcast to our community. Access to high-quality cable and internet services is essential for our residents and businesses, and having more options ensures that everyone can find a plan that best meets their needs. We look forward to the benefits that increased competition and improved infrastructure will bring," said Chanhassen Mayor Elise Ryan. Residential customers will be able to take advantage of Xfinity’s full suite of products, including Internet, video, mobile, voice and managed home solutions. For local businesses, Comcast Business will offer a suite of connectivity, communications, networking, cybersecurity, wireless, and managed solutions to help organizations of different sizes prepare for what’s next. Comcast Business has been consistently recognized by industry analysts and associations as a leader and innovator, and one of the fastest-growing providers of Ethernet services. “Reliable high-speed Internet is essential in today’s digital economy, which is why Comcast continues its commitment to connect more Twin Cities families and businesses to the moments that matter most,” said Kalyn Hove, Comcast Midwest Regional Senior Vice President. “We are expanding our fiber highways in Chanhassen, strategically investing in areas undergoing significant growth. By establishing the best broadband infrastructure today, we are securing the economic prosperity of these communities for tomorrow.” Comcast’s commitment to new communities goes beyond the build—addressing digital opportunities in communities through Project UP, the company’s $1 billion commitment to help tens of millions of people connect to the Internet and build futures of unlimited possibilities. Over the past three years, Comcast has invested more than $5 million in cash and in kind donations in the Twin Cities to help shrink the digital divide. The focus includes helping people build digital skills in the workforce, expanding WiFi connected Lift Zones and funding connectivity and internet adoption programs. The funding also supports ongoing efforts to build awareness about affordable connectivity services like Internet Essentials, which offers eligible households high-speed internet for $9.95/month or Internet Essentials Plus for $29.95/month. Affordable computers are also available through Internet Essentials. Since its inception in 2011, the program has connected more than 480,000 students, parents, veterans and seniors in Minnesota. For more construction details and updates, visit https://midwest.comcast.com/network-expansion/. About Comcast Corporation Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company. From the connectivity and platforms we provide, to the content and experiences we create, our businesses reach hundreds of millions of customers, viewers, and guests worldwide. We deliver world-class broadband, wireless, and video through Xfinity, Comcast Business, and Sky; produce, distribute, and stream leading entertainment, sports, and news through brands including NBC, Telemundo, Universal, Peacock, and Sky; and bring incredible theme parks and attractions to life through Universal Destinations & Experiences. Visit www.comcastcorporation.com for more information. Contact Details Jill Hornbacher +1 651-425-1695 Jill_Hornbacher@comcast.com Company Website https://midwest.comcast.com

May 30, 2024 07:00 AM Central Daylight Time

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Just in Time for Father’s Day

SR Portables

Sunpower Renewables Pty. Ltd., just launching in the United States, just in time for Father’s Day. This Australian renewable energy solutions company has developed modern, efficient, and smart solar energy products that allow customers to achieve energy independence while being cost effective, long lasting, and environmentally friendly. These ‘Australian Made’ products, with cutting-edge technology, are designed for industrial, commercial, residential, and off-grid applications. “We are so excited to have our solar powered generators available in the United States, these items are created to empower every consumer to generate, store and use solar energy anytime, anywhere,” said Rahul Kale, founder of Sunpower Renewables. “These state-of-the-art, simple-to-use, and light-weight portable solutions have proven to be more sustainable & viable, both commercially and technically, than traditional solar and renewable alternatives.” SR Portables renewable energy generation and storage devices, ranging from hand-held to grid connected products, allow users to generate and store energy (from the grid, solar or external generators) and then intelligently release it to appliances based on user-programmed preferences to reduce the total electricity costs for the user. “From camping and powering homes to defense and humanitarian aid, these solar powered generators are your one-stop-shop for replacing portable diesel generators and home inverters,” said Kale. Sunpower Renewables are an all-in-one solution, fully integrating all the different components of the solar plant with additional features like an in-built Inverter, MPPT charge controller, a pure sine wave UPS, a reversible net meter and an in-built Li-Ion battery pack for energy storage. Integrating all these components into a single, compact, portable, plug and play product, which offers energy storage is a game changer for the renewable energy industry. Available on AMAZON, starting at $289. ### About Sunpower Renewables Pty. Ltd., Our core team of world-renowned energy experts recognized glaring gaps in the restrictive use of renewable energy across the globe. What began as a journey to implement existing options within the renewable energy ecosystem became the genesis for a revolutionary, new-age, sustainable concept. Inspired by the Latin phrase ‘avia pervia’ we set upon simplifying solar energy to make it easily available and usable to everyone. Our main objective was to provide energy independence to customers through accessible & easy-to-use renewable energy solutions with efficient energy storage for continuous power supply even during peak consumption. Contact Details absolute R relations Colleen Mathis colleen@absoluteRrelations.com Company Website https://srportables.com/

May 30, 2024 07:29 AM Eastern Daylight Time

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Immunic Inc. CEO Daniel Vitt Highlights Advances in MS Treatment on World MS Day

Immunic Inc

Immunic Inc CEO Daniel Vitt joined Steve Darling from Proactive to discuss the ongoing challenges and recent developments in treating multiple sclerosis (MS). This interview took place in conjunction with World MS Day, a day dedicated to raising global awareness about this debilitating disease. Vitt emphasized the significant unmet medical need for effective treatments, noting that MS affects approximately 2.8 million people worldwide. The disease often leads to progressive physical disability, with many patients eventually requiring wheelchairs for mobility. Vitt explained that early diagnosis is crucial for MS, as it allows for more timely and effective intervention, which can significantly slow the progression of the disease. He highlighted Immunic’s innovative approach to MS treatment, which targets both inflammation and neuroprotection. This strategy is designed to address the complex nature of MS, which involves both inflammatory and neurodegenerative processes. Immunic’s lead drug candidate, vidofludimus calcium, is currently in clinical development for both relapsing and progressive forms of MS. Vidofludimus calcium works by activating a protein called Nurr1, which provides direct neuroprotective effects in addition to its anti-inflammatory benefits via DHODH inhibition. This dual mechanism of action makes it a promising candidate for comprehensive MS treatment. The drug is currently undergoing a phase 3 clinical trials for relapsing MS, with results expected in 2026. Additionally, a phase 2 clinical trial for progressive MS is underway, with results anticipated in April 2025. These trials aim to further validate the safety and efficacy of vidofludimus calcium in addressing the diverse and challenging aspects of MS. Vitt expressed optimism about the potential of vidofludimus calcium to transform MS treatment. He cited the drug’s safety profile and its demonstrated efficacy in clinical trials as key factors contributing to this potential. If successful, vidofludimus calcium could become a critical tool in the fight against MS, offering hope to millions of patients worldwide. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

May 30, 2024 07:03 AM Eastern Daylight Time

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CURE ALZHEIMER’S FUND PRESENTS THE JEFFREY L. MORBY PRIZE FOR EXCEPTIONAL RESEARCH

Alzheimer’s Disease Research Foundation

Cure Alzheimer’s Fund, a nonprofit dedicated to funding the most promising research to prevent, slow or reverse Alzheimer’s disease, has announced the recipients of the inaugural Jeffrey L. Morby Prize. Senior author David M. Holtzman, M.D., and first author Xiaoying Chen, Ph.D., both of Washington University School of Medicine in St. Louis, were selected by their peers for their paper “Microglia-Mediated T Cell Infiltration Drives Neurodegeneration in Tauopathy,” published in Nature in March 2023. The Morby Prize is named in honor of the late Co-Founder of Cure Alzheimer’s Fund, Jeffrey L. Morby, who inspired the nonprofit’s mission 20 years ago to fund research as a path to ending Alzheimer’s disease. Mr. Morby passed away in September 2023. Established this year, the Morby prize will be awarded annually to the senior and first authors of a recent scientific publication that transforms the fundamental understanding of Alzheimer’s disease and opens new paths to translate scientific results into effective ways to prevent, diagnose or treat the disease. This year’s award included $200,000 for the senior author’s lab for Alzheimer’s disease-related research. “Recognizing researchers for a paper selected by peer scientists for breakthrough thinking and benefit to the Alzheimer’s community befits Jeff’s wonderful legacy of empowering scientists to achieve rigorous and innovative science,” said Meg Smith, CEO of Cure Alzheimer’s Fund. “The many extraordinary CureAlz-funded projects that resulted in published papers in 2022 and 2023 made the competition for this award fierce, and the endorsement of this paper by their peers speaks to the importance of the work of Drs. Holtzman and Chen and their co-authors. Their compelling data challenge the old paradigm that the adaptive immune system has little role in neurodegenerative disease, and by doing so opens new avenues to explore for effective intervention in Alzheimer’s disease.” Added Dr. Holtzman: ”Both Xiaoying Chen and I and our many outstanding co-authors are very honored to receive recognition for the work in our recently published paper. There remain many unanswered questions about the exact role of the adaptive immune response in the pathogenesis of Alzheimer’s disease. I think this work along with work from others in the field is pushing us to understand how important adaptive immunity is in Alzheimer’s disease and other tauopathies, as well as whether targeting it will ultimately be therapeutically beneficial to people.” About The Holtzman Lab David M. Holtzman, Ph.D. is a neurologist and neuroscientist who has focused much of his efforts over the past 30 years on trying to better understand mechanisms underlying neurodegeneration, particularly as they are relevant to Alzheimer’s disease (AD). Xiaoying Chen, Ph.D., was a postdoc research associate in the Holtzman Lab and is first author of the winning paper. The Holtzman Lab at Washington University School of Medicine in St. Louis has published extensively on the neurobiology of apoE as it relates to the innate immune system and how apoE and other factors such as neuronal activity and sleep influence Aβ and tau metabolism, their accumulation, and their effects in the brain. For more information, visit HoltzmanLab.Wustl.edu. About Cure Alzheimer's Fund Cure Alzheimer’s Fund is a nonprofit dedicated to funding the most promising research to prevent, slow or reverse Alzheimer’s disease. Since its founding in 2004, Cure Alzheimer’s Fund has provided 848 grants to more than 300 of the world’s leading researchers and contributed $202 million to research. Its funded initiatives have been responsible for many key breakthroughs in understanding the causes and pathology of Alzheimer’s disease. Cure Alzheimer’s Fund has received a 4-star rating for more than 12 consecutive years from Charity Navigator. Our Board of Directors, Trustees and a core group of other donors direct their donations to CureAlz overhead expenses so that 100% of general donations go to our research program. For more information, visit CureAlz.org. To learn about the impact of Alzheimer’s on women and women working toward a cure, visit WomenandAlzheimers.org. Contact Details Barbara Chambers +1 978-417-9890 BChambers@CureAlz.org Company Website https://curealz.org

May 30, 2024 06:00 AM Eastern Daylight Time

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