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Cardiol Therapeutics Announces Topline Results from the Phase II ARCHER Trial of CardiolRx(TM) in Acute Myocarditis

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) (‘Cardiol‘ or the ‘Company‘), a clinical-stage life sciences company focused on developing anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease, today announced topline results from ARCHER, the Company’s Phase II clinical trial in patients with acute myocarditis. In the two primary endpoints—extracellular volume (‘ECV’) and global longitudinal strain (‘GLS’)—CardiolRx showed a notable improvement in ECV (p = 0.0538) compared to placebo following 12 weeks of double-blind therapy, with no significant difference observed in GLS in a population that had preserved left ventricular (‘LV’) function at baseline. The reduction in ECV was associated with improvements over placebo in multiple pre-specified cardiac magnetic resonance imaging (‘CMR’) endpoints, including a significant reduction in LV mass. The ARCHER trial results provide compelling clinical proof of concept for CardiolRx and strongly support advancing the clinical development of CardiolRx and CRD-38 in cardiomyopathies, heart failure, and myocarditis. Consistent with findings from Cardiol’s Phase II MAvERIC trial in recurrent pericarditis, CardiolRx was shown to be safe and well tolerated. The ARCHER results have been submitted for presentation at an upcoming scientific meeting and will be submitted for publication.

  • Change in the primary endpoint of left ventricular (LV) extracellular volume (ECV) showed a notable improvement (p = 0.0538) favouring CardiolRx over placebo.
  • Reduction in ECV was associated with improvements across multiple pre-specified cardiac magnetic resonance imaging (CMR) endpoints, including a significant reduction in LV mass.
  • The ARCHER trial results provide compelling clinical proof of concept for CardiolRx and strongly support advancing the clinical development of CardiolRx and CRD-38 in cardiomyopathies, heart failure, and myocarditis.
  • The ARCHER results have been submitted for presentation at an upcoming scientific meeting and will be submitted for publication.

‘On behalf of the ARCHER Steering Committee, I would like to extend our sincere gratitude to the patients who participated in the study; to their families and caregivers for their invaluable support; and to the clinical trial site investigators and staff, members of the international Steering Committee, and the Data and Safety Monitoring Committee, whose exemplary efforts in patient recruitment, clinical care, trial execution, monitoring, and oversight were instrumental in achieving the compelling findings of the ARCHER trial,’ said Dr. Dennis M. McNamara, Professor of Medicine at the University of Pittsburgh, Director of the Center for Heart Failure Research at the University of Pittsburgh Medical Center, and Chair of the ARCHER Steering Committee. ‘I commend Cardiol for undertaking this important trial that investigated the biological effects of pharmaceutically manufactured cannabidiol in acute myocarditis. The results offer exciting new insights into the treatment of acute myocarditis and strongly support advancing the clinical development of this novel therapeutic approach for inflammatory cardiac conditions, including myocarditis and heart failure. I look forward to collaborating with my colleagues on the Steering Committee as we prepare for the presentation and publication of the comprehensive ARCHER trial data.’

Dr. Leslie T. Cooper, Jr., the Elizabeth C. Lane, Ph.D. and M. Nadine Zimmerman, Ph.D. Professor of Internal Medicine at the Mayo Clinic in Jacksonville, Florida, and Co-Chair of the Steering Committee for the ARCHER trial, added, ‘ARCHER was an important, well-designed, and well-executed clinical trial. The intriguing findings reinforce our original hypothesis that pharmaceutically manufactured cannabidiol can attenuate myocardial inflammation and edema. ARCHER’s results provide sound rationale for advancing the clinical development of this novel therapy in conditions of the myocardium characterized by edema, fibrosis, and remodeling, including the growing challenge of immune checkpoint inhibitor-induced myocarditis which can be fatal.’

‘We are delighted with the ARCHER trial results,’ said David Elsley, President and Chief Executive Officer of Cardiol Therapeutics. ‘We initiated this ambitious study—focused on a potentially life-threatening cardiac disorder for which there is no established standard of care—to further investigate the therapeutic potential of CardiolRx in inflammatory heart disease. We are thrilled to observe improvements in multiple CMR measures associated with diagnosis, prognosis, and clinical outcomes. As we continue to advance our lead clinical program, the pivotal Phase III MAVERIC trial in recurrent pericarditis, we now look forward to integrating the ARCHER findings into our broader clinical development strategy and business development initiatives—supporting the continued advancement of CardiolRx and CRD-38 as potential treatments for inflammatory cardiac disorders.’

ARCHER is a Phase II multi-national, randomized, double-blind, placebo-controlled trial investigating the safety, tolerability, and impact of CardiolRx on myocardial recovery in patients presenting with acute myocarditis. The design and rationale for ARCHER were published on June 27, 2024, in the journal ESC Heart Failure. The study enrolled 109 patients from leading cardiovascular research centers in the United States, France, Brazil, and Israel. The two primary outcome measures of the trial, which were evaluated following 12 weeks of double-blind therapy, consist of cardiac magnetic resonance imaging parameters: extra-cellular volume and global longitudinal strain, which assess myocardial function and tissue characteristics associated with fibrosis and inflammation.

Acute Myocarditis

Acute myocarditis is an inflammatory condition of the heart muscle (myocardium) characterized by chest pain, shortness of breath at rest or during activity, fatigue, rapid or irregular heartbeat (arrhythmias), and light-headedness or the feeling one might faint. The disease is an important cause of acute and fulminant heart failure and is a leading cause of sudden cardiac death in people under 35 years of age. Viral infection is the most common cause of myocarditis; however, it can also result from bacterial infection, commonly used drugs, and mRNA vaccines, as well as therapies used to treat several common cancers, including chemo-therapeutic agents and immune checkpoint inhibitors. There are no FDA-approved drug therapies for acute myocarditis. Patients hospitalized with the condition experience an average seven-day length of stay and a 4 – 6% risk of in-hospital mortality, with average hospital charge per stay estimated at $110,000 in the United States.

About Cardiol Therapeutics

Cardiol Therapeutics Inc. (NASDAQ: CRDL) (TSX: CRDL) is a clinical-stage life sciences company focused on developing anti-inflammatory and anti-fibrotic therapies for the treatment of heart disease. The Company’s lead small molecule drug candidate, CardiolRx (cannabidiol) oral solution, is pharmaceutically manufactured and in clinical development for use in the treatment of heart disease. It is recognized that cannabidiol inhibits activation of the inflammasome pathway, 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.

Cardiol has received Investigational New Drug Application authorization from the United States Food and Drug Administration (‘US FDA’) to conduct clinical studies to evaluate the efficacy and safety of CardiolRx in two diseases affecting the heart: recurrent pericarditis and acute myocarditis. 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 Phase III MAVERIC trial (NCT06708299). The completed ARCHER trial (NCT05180240) is a 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. The US FDA has granted Orphan Drug Designation to CardiolRx for the treatment of pericarditis, which includes recurrent pericarditis.

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 $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 of cannabidiol intended for use in heart failure, the Company’s presentation and publication of the comprehensive ARCHER trial data, and 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. 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

Click here to connect with Cardiol Therapeutics Inc. to receive an Investor Presentation

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Seismic Equipment Arrives For Enercam Resources’ Oil & Gas Block VIII, Cambodia

(TheNewswire)

GRANDE PRAIRIE, ALBERTA – August 6, 2025 TheNewswire – Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF) (‘ANGKOR’ OR ‘THE COMPANY’) announces its subsidiary, EnerCam Resources Co. Ltd. (Cambodia) (‘EnerCam’) has landed seismic equipment from seismic contractor GeneSeis Company Limited Thailand (‘GeneSeis’) to commence Cambodia’s first onshore EnviroVibe oil and gas seismic for Block VIII (‘Project’).

Keith Edwards, Technical Manager of EnerCam, comments on the start of this type of seismic, ‘This program will provide comprehensive coverage over Block VIII and will guide our efforts going forward.  We are excited about this search for Cambodia’s first site for onshore oil and gas production and hopefully this seismic will lead to the first onshore well being drilled in Cambodia.’

Due to border conflict issues which started in May and ceasefire agreements in late July, the equipment could not pass through land borders and therefore, five containers came into Sihanoukville port by ship and then were transported to the base camp of the seismic program.

Seismic teams are executing 350-line kilometers of two dimensional seismic over four identified sub basins on the west side of the license area plus a newly described ‘mussel basin’ on the northeast side of the license.

Mike Weeks, President of EnerCam, states, ‘We are very pleased to be starting this seismic program on Block VIII; it is a huge milestone for both the company and the country.   Overcoming the hurdles is a tribute to the team and we are expecting to see this program provide significant data towards drill targets for Cambodia’s onshore oil and gas industry.’

Following a multitude of scoping missions by the lead geoscientists of EnerCam, accompanied by graduate students from Institute of Technology of Cambodia (ITC) and logistics manager Bunchhay Yun, the team now prepares to start an environmentally friendly seismic program in the Kingdom of Cambodia.   Keith Edwards, Technical Manager for EnerCam explains, ‘The EnviroVibe units use no dynamite but instead use the weight of the vehicle and a hydraulicly controlled vibrating pad to send acoustic (sound) waves into the sub-surface.   This vibration is done with frequencies of 3-80Hz, 3 times for 12 seconds each time using two EnviroVibe vehicles that are synchronized.  By spreading the energy over 36 seconds, we can operate in many environments with no negative impacts.’

Management is expecting noise from rainfall or traffic to have less impact on the VibroSeis data than traditional impulsive sources such as dynamite or weight drop.  Specific plans were made on access points to mitigate this and recent adjustments incorporated that into the planned program.

The teams have driven over 3720 kilometers, spent several weeks between May and July confirming the best routes to take for quality data, and have taken over 2900 photos of terrain as part of the data collection prior to seismic lines.

Between 35-40 personnel are now deployed to execute the 2-D seismic over the verified roads and access points.  All affected landowners, community and commune authorities have been contacted and have given permission for EnerCam to proceed. The program started yesterday and is expected to take a minimum of four weeks to cover the destination routes to acquire the necessary data.


Click Image To View Full Size


Click Image To View Full Size

Figure 1  Mike Weeks in foreground of Envirovibe machine and several staff sorting

through some of the 2000+ geophones.

Figure 2:  Over 2000 geophones, which convert ground movement into voltage, form part of  the equipment for the 350 line kilometers from which vibrations will be measured.


Click Image To View Full Size

Figure 3 New Oil Seeps identified on most the recent Scouting Mission on July 29 2025.

ABOUT Angkor Resources CORPORATION:

Angkor Resources Corp. is a public company, listed on the TSX-Venture Exchange, and is a leading resource optimizer in Cambodia working towards mineral and energy solutions across Canada and Cambodia. ANGKOR’s carbon capture and gas conservation project in Saskatchewan, Canada is part of its long-term commitment to Environmental and Social projects and cleaner energy solutions across jurisdictions.  The company’s mineral subsidiary, Angkor Gold Corp. in Cambodia holds three mineral exploration licenses in Cambodia and its Cambodian energy subsidiary, EnerCam Resources, was granted an onshore oil and gas license of 7300 square kilometers in the southwest quadrant of Cambodia called Block VIII.   The company then removed all parks and protected areas to reduce the size to just over 3700 square kilometers.   Since 2022, Angkor’s Canadian subsidiary, EnerCam Exploration Ltd., has been involved in gas/carbon capture and oil and gas production in Saskatchewan, Canada.

CONTACT: Delayne Weeks – CEO

Email: info@angkorresources.com Website: angkor resources.com Telephone: +1 (780) 831-8722

Please follow @AngkorResources on , , , Instagram and .

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the potential for gold and/or other minerals at any of the Company’s properties, the prospective nature of any claims comprising the Company’s property interests, the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, uncertainty of sample results, timing and results o f future exploration, and the availability of financing.  Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Forte Minerals Engages Strategic Advisors, Expands Capital Markets Team, and Launches AI-Powered Investor Tool

Forte Minerals Corp . (‘ Forte ‘ or the ‘ Company ‘) ( CSE: CUAU ) ( OTCQB: FOMNF ) ( Frankfurt: 2OA ) is pleased to announce the expansion of its capital markets capabilities with three strategic initiatives:

  • The appointment of Port Guichon Strategic Advisory, as Investor Relations and Capital Markets Specialist;

These additions support Forte’s commitment to investor engagement, capital markets excellence, and digital transparency.

Strategic Advisory from Proven Mining Dealmakers

Forte has retained Mills Dunlop Capital Partners (MDCP), an independent M&A and strategic advisory firm led by Russell Mills and Brodie Dunlop, to provide strategic and advisory guidance. With deep experience in structuring complex mining transactions, MDCP brings a proven record of execution and capital markets insight.

MDCP offers:

  1. Execution expertise : Multiple M&A and strategic transactions across the mining sector over several decades.
  2. Sector specialization : Their independent model allows for conflict-free, tailored guidance.
  3. Comprehensive support : Forte will benefit from assistance in deal evaluation, due diligence, regulatory documentation, and strategic corporate negotiations.

‘Russell and Brodie bring a rare combination of mining knowledge, transactional experience, and corporate connectivity,’ said Patrick Elliott , President & CEO. ‘Their advisory will be critical as we evaluate strategic opportunities and position Forte for long-term success.’

Port Guichon Strategic Advisory Appointed as Investor Relations & Capital Markets Specialist

Forte Minerals Corp. is pleased to welcome Kevin Guichon , Principal of Port Guichon Strategic Advisory, to lead its Investor Relations and Capital Markets strategy. Kevin brings over a decade of experience in the Canadian securities industry, including his tenure at Haywood Securities Inc., where he progressed from operations to trading and advisory services.

He will oversee investor outreach and guide capital markets strategies, working closely with Anna Dalaire, VP of Corporate Development, to expand Forte’s corporate messaging, strengthen relationships with existing shareholders, and build new connections across the investment community.

As part of his engagement, Kevin will be compensated at C$4,000 per month and has been granted 200,000 stock options, exercisable at C$0.80 per share for five (5) years, under the Company’s incentive stock option plan, subject to regulatory approval.

‘Kevin understands both the language of capital markets and the needs of investors,’ said Elliott. ‘His ability to simplify complex opportunities and build trusted relationships will elevate our investor communications.’

Now Live: AI-Powered Investor Platform on ForteMinerals.com

Forte has officially launched its AI-powered investor engagement platform, a partnership with Versance.ai, providing instant access to the company’s regulatory filings, investor questions and insights.

Now live at www.forteminerals.com , the platform offers:

  • Instant Answers: Ask plain-language questions like ‘Summarize the latest news release.’ or ‘How many drill permits do they have?’ and receive sourced, reliable responses in seconds.
  • Side-by-side Filing Comparison: Compare MD&A sections and risk disclosures across time or against peer companies.
  • 24/7 Multilingual Access: Available for free, globally, empowering investors to perform due diligence on their own terms.

‘Transparency isn’t optional,’ said Anna Dalaire , VP Corporate Development and Corporate Secretary. ‘At Forte, we believe in building real relationships with our shareholders; our team is always here to connect. But we also understand that today’s investors want answers now. Communication doesn’t just happen through press releases anymore; it’s multi-channel, on-demand, and constant. This AI tool gives investors 24/7 access to the information they need, while keeping compliance front and center.’

Corporate Update: Option Grants

The Company also announces that, pursuant to its existing stock option plan, it has granted an aggregate of 1,450,000 stock options (the ‘Options’) to directors, officers, and consultants of the Company. These Options are exercisable at C$0.80 per share and expire five (5) years from the date of grant, subject to applicable regulatory approvals.

ABOUT Forte Minerals CORP.

Forte Minerals Corp. is an exploration company with a strong portfolio of high-quality copper (Cu) and gold (Au) assets in Peru. Through a strategic partnership with GlobeTrotters Resources Perú S.A.C. , the Company gains access to a rich pipeline of historically drilled, high-impact targets across premier Andean mineral belts. The Company is committed to responsible resource development that generates long-term value for shareholders, communities, and partners.

On behalf of Forte Minerals CORP.

(signed) ‘ Patrick Elliott’
Patrick Elliott, MSc, MBA, PGeo
President & Chief Executive Officer
Forte Minerals Corp.

For further information, please contact:
Investor Inquiries
Kevin Guichon, IR & Capital Markets
E: kguichon@forteminerals.com
C: (604) 612-9976

Media Contact
Anna Dalaire, VP Corporate Development
E: adalaire@forteminerals.com
T: (604) 983-8847
info@forteminerals.com
www.forteminerals.com

Follow Us On Social Media : LinkedIn | Instagram | X | Meta | The Drill Down; Newsletter

Certain statements included in this press release constitute forward-looking information or statements (collectively, ‘forward-looking statements’), including those identified by the expressions ‘anticipate’, ‘believe’, ‘plan’, ‘estimate’, ‘expect’, ‘intend’, ‘may’, ‘should’ and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements relating to the intended use of proceeds of the Strategic Placement. These forward-looking statements and information reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company with respect to the matter described in this press release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under ‘Risk Factors and Uncertainties’ in the Company’s latest management’s discussion and analysis, which is available under the Company’s SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future.

Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management’s reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information or statements to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements.

Neither the Canadian Securities Exchange (the ‘CSE’) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/75063682-5dba-4c3f-a217-79a1b9b82868

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Murdoch to provide Trump health updates in deal to delay Epstein case deposition

Conservative media baron Rupert Murdoch will give President Donald Trump regular updates on his health as part of an agreement to postpone Murdoch’s deposition in Trump’s $10 billion defamation lawsuit against him over a Wall Street Journal article about late sex offender Jeffrey Epstein.

The unusual stipulation comes a week after Trump’s lawyers sought a quick deposition in the case. Their filing in Miami federal court implied that Murdoch might be either dead or too sick to testify in person by the time the case went to trial.

“Murdoch is 94 years old, has suffered from multiple health issues throughout his life, is believed to have suffered recent significant health scares, and is presumed to live in New York, New York,” Trump’s lawyers said in their filing last week.

Murdoch’ agreement to divulge highly personal information about his health to Trump and his lawyers contrasts sharply with the cozy relationship Murdoch’s Fox News has had with the president over the years.

Fox News for more than a decade has acted as a cheerleader for Trump and his policies. The president is an avid watcher of the conservative network, and several of his key administration officials have worked for Fox. Trump’s daughter-in-law, Lara Trump, currently has a show on Fox News.

The new deal, outlined in a court filing jointly filed by Trump’s and Murdoch’s lawyers late Monday night, postpones Murdoch’s deposition in the case until after a judge rules on his and other defendants’ motions to dismiss Trump’s lawsuit.

If the judge denies that dismissal motion, Murdoch would have to sit for questioning under oath from Trump’s lawyers within 30 days.

The deal has to be approved by the judge, but it is likely to be approved given that both sides have agreed to it.

When the judge signs off on it, Murdoch will be required within three calendar days to give Trump’s’ lawyers “a sworn declaration describing his current health condition,” according to the stipulation filed Monday.

“Defendant Murdoch has further agreed to provide regularly scheduled updates to Plaintiff regarding his health, including a mechanism for him to alert the Plaintiff if there is a material change to his health,” the filing says.

That mechanism is described in a separately signed agreement, which was not publicly filed with the court.

If Murdoch fails to provide the updates as agreed to in the abatement agreement, he will have to sit for an “expedited” deposition, the filing says.

A spokesman for Trump declined to comment on the filing.

CNBC has requested comment from Dow Jones & Co., the publisher of the Journal, which is owned by Murdoch’s News Corp.

Trump’s suit alleges defamation for a Wall Street Journal article in July which said he had sent Epstein a “bawdy” birthday card in 2003 for Epstein’s 50th birthday.

Trump, who denies writing the note, sued Murdoch; News Corp and its CEO Robert Thomson; Dow Jones & Co.; and the two reporters who wrote the article.

For weeks, the president and the Justice Department have faced criticism for a decision not to release investigative files about Epstein, a former friend of Trump’s, who died by suicide in jail in 2019, after being arrested on child sex trafficking charges.

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U.S. farm agency allows six more states to bar some items from food aid

WASHINGTON — The Agriculture Department allowed six additional states Monday to bar participants in the Supplemental Nutrition Assistance Program from using their benefits to buy certain processed foods, such as sodas and candy.

The SNAP waivers for West Virginia, Florida, Colorado, Louisiana, Oklahoma and Texas amend the statutory definition of food for purchase and put an end to the subsidization of popular types of junk food beginning in 2026.

The administration of President Donald Trump has encouraged all states to take such measures as part of its “Make America Healthy Again” initiative, named for the social movement led by Health Secretary Robert F. Kennedy Jr.

The USDA had so far signed waivers to allow six states — Arkansas, Idaho, Utah, Iowa, Indiana and Nebraska — to place similar purchasing restrictions on SNAP recipients.

“I hope to see all 50 states join this bold commonsense approach. For too long, the root causes of our chronic disease epidemic have been addressed with lip service only,” said the U.S. Food and Drug Commissioner Marty Makary.

Agriculture Secretary Brooke Rollins announced the additional waivers at an event at the USDA headquarters in Washington.

“These state waivers promote healthier options for families in need,” said Secretary Rollins.

More than 42 million people receive SNAP benefits, sometimes called food stamps, as part of the nation’s largest anti-hunger program.

The massive tax cut and spending bill signed by President Trump in July makes significant changes to the SNAP program, including expanding work requirements and shifting more spending for the program to states.

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Amazon lays off over 100 employees in Wondery unit as part of audio business restructuring

Amazon is laying off roughly 110 employees in its Wondery podcast division and the head of the group is leaving as part of a broader reshuffling of the company’s audio unit.

In a Monday note to staffers, Steve Boom, Amazon’s vice president of audio, Twitch and games, said the company is consolidating some Wondery units under its Audible audiobook and podcasting division. Wondery CEO Jen Sargent is also stepping down from her role, Boom said.

“These changes will not only better align our teams as they work to take advantage of the strategic opportunities ahead but, even more crucially, will ensure we have the right structure in place to deliver the very best experience to creators, customers and advertisers,” Boom wrote in the memo, which was viewed by CNBC. “Unfortunately, these changes also include some role reductions, and we have notified those employees this morning.”

Bloomberg was first to report on the job cuts.

The move comes nearly five years after Amazon acquired Wondery as part of a push to expand its catalog of original audio content. The podcasting company made a name for itself with hit shows like “Dirty John” and “Dr. Death.”

More recently, Wondery signed several lucrative licensing deals with Jason and Travis Kelce’s “New Heights” podcast, along with Dax Shepard’s “Armchair Expert.”

Amazon is streamlining “how Wondery further integrates” into the company by separating the teams that oversee its narrative podcasts from those developing “creator-led shows,” Boom wrote.

The narrative podcasting unit will consolidate under Audible, and creator-led content will move to a new unit within Boom’s organization in Amazon called “creator services,” he wrote.

Amazon’s audio pursuits face a heightened challenge from the growing popularity of video podcasts on Alphabet’s YouTube, which now hosts an increasing number of shows.

Video shows require different discovery, growth and monetization strategies than “audio-first, narrative series,” Boom wrote in the memo to Amazon staffers.

“The podcast landscape has evolved significantly over the past few years,” Boom said.

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First Quantum Secures US$1 Billion in Gold Stream Deal with Royal Gold

First Quantum Minerals (TSX:FM,OTC Pink:FQVLF) has locked in a US$1.0 billion cash infusion through a gold streaming agreement with RGLD Gold AG, a wholly owned subsidiary of Royal Gold (NASDAQ:RGLD).

The Vancouver-based firm announced on Tuesday (August 5) that the streaming agreement is tied to its Zambian operations, covering future gold deliveries linked to copper output at its Kansanshi mine.

“Following a thorough evaluation of several deleveraging options, I am pleased to announce this milestone transaction which preserves exposure to all of the copper production at Kansanshi while still maintaining exposure to the majority of the Company’s gold production,” said First Quantum CEO Tristan Pascall in a press release.

“It is pleasing to form a new partnership with Royal Gold which is a strong endorsement of the operations at Kansanshi and its multi-generational ore body as well as Zambia as a leading African mining jurisdiction,” Pascall added.

The agreement provides First Quantum with long-term, unsecured capital that does not increase its debt load. Proceeds will be used for capital expenditures and repayment of existing bank loans. Furthermore, the company said that the transaction is expected to materially lower its net debt-to-EBITDA ratio.

While the arrangement commits First Quantum to deliver gold based on a formula tied to copper production, the company retains most of its gold upside.

Based on its 2026 and 2027 production forecasts, approximately 84 percent of its total gold output will still be exposed to spot market pricing. The company also retains full exposure to newly discovered near-surface gold zones at Kansanshi.

Under the terms of the agreement, First Quantum will deliver gold to Royal Gold on a stepdown basis: 75 ounces of gold for every million pounds of recovered copper produced until 425,000 ounces have been delivered, 55 ounces per million pounds for the next 225,000 ounces, and 45 ounces per million pounds thereafter.

First Quantum will receive 20 percent of the spot gold price per ounce delivered, rising to 35 percent if it secures a BB credit rating or maintains a net leverage ratio of 2.25x or lower for three straight quarters starting Q1 2026.

The deal also includes two optional acceleration provisions, allowing First Quantum to reduce future delivery commitments. The company can cut delivery thresholds by up to 20 percent at a value of up to US$200 million once it reaches the BB rating or leverage target.

A further 10 percent reduction, worth US$100 million, is possible upon achieving a leverage ratio of 1.25 times over four consecutive quarters, subject to meeting certain operational conditions.

The gold streaming deal is part of First Quantum’s continued efforts to strengthen its finances after recent setbacks at the Cobre Panamá mine.

In May, the company announced it had received government approval in Panama for its Preservation and Safe Management program at the Cobre Panamá mine. The approval enables the company to carry out environmental and safety measures funded through the export of 121,000 dry metric tons of copper concentrate currently stored on site.

The program does not represent a restart of full operations, but allows First Quantum to maintain the site and manage its obligations in line with Panamanian government requirements.

On the other hand, the deal also deepens Royal Gold’s exposure to a major African copper-gold asset at a time when the streaming and royalty company is making moves to expand its portfolio.

Just last month, Royal Gold announced a pair of major acquisitions: a US$3.5 billion all-share deal to acquire Sandstorm Gold (TSX:SSL)and a separate US$196 million cash deal for Horizon Copper (TSXV:HCU).

The transactions, announced in July, would create a streaming and royalty giant with 393 assets across six continents—including 80 that are currently cash-flowing.

Shares of First Quantum were up slightly in Tuesday trading following the announcement.

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

This post appeared first on investingnews.com

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Fox One streaming service to launch ahead of NFL season on Aug. 21, at $19.99 per month

Fox Corp. will launch its direct-to-consumer streaming service, Fox One, on Aug. 21, ahead of the NFL season, the company said Tuesday.

The new streaming service will cost $19.99 per month, and pay TV subscribers will receive access for free, said CEO Lachlan Murdoch during the company’s earnings call.

Fox One will host the entirety of the Fox TV portfolio — namely, live sports such as NFL and MLB that appear on its broadcast network, as well as news programming from its Fox News and Fox Business cable TV networks.

Fox airs NFL games on Sundays during the regular season, which kicks off this year on September 4. The broadcast network also airs MLB postseason games, as well as college football, which also takes place in the fall.

However, the streaming service won’t offer any exclusive or original content, Murdoch said, adding that much of its costs will come from overhead, marketing and technology. This is in contrast to most of Fox’s competitors, which spend on additional sports rights and other content exclusive to streaming.

“It’s important to remember that our subscriber expectations or aspirations for Fox One are modest,” Murdoch said.

The company has been slower than its peers to jump into the streaming game. While it already has the Fox Nation service and Tubi, a free, ad-supported streaming app, it has yet to offer its full content slate in a direct-to-consumer offering.

Murdoch previously said the cost for the service would be “healthy and not a discounted price,” in an effort to avoid further disrupting the pay TV bundle, which has suffered continued customer losses.

Fox’s portfolio is mainly made up of sports and news content since it sold its entertainment assets to Disney in 2019. This has shielded Fox from some of the cord-cutting headwinds that have affected its media peers in recent years.

On Tuesday, Murdoch reiterated that the company will be looking to bundle Fox One with other streaming services. However, he said the company will be careful on that front, similarly so as not to cause further damage to the pay TV ecosystem.

He said Fox is mindful of two factors when it comes to bundling. First, to offer the consumer a convenient package of its content, and potentially valuable bundles. And second, to keep the service “very focused” on a “targeted audience” of those customers without pay TV subscriptions.

“Sometimes those two things conflict with each other. So we want to be very targeted, but we also want to make it easy for our consumers and our viewers to gain our content, whether it’s in conjunction with other services or not,” Murdoch said.

Earlier this year, Murdoch told investors that Fox would launch its own answer to streaming after dropping its efforts for the joint sports streaming venture, Venu.

It will be joined by a new streaming offering from Disney’s ESPN in the coming weeks. While Disney already offers the ESPN+ streaming service, the company will launch a full-service ESPN direct-to-consumer product this fall. Disney earlier said that the app will cost $29.99 a month. Disney reports its quarterly earnings on Wednesday.

On Tuesday, Fox reported total revenue for its most recent quarter of $3.29 billion, up 6% from the same period last year.

While the advertising market has been weak for media companies, particularly for content outside of live sports, Fox reported its advertising revenue increased 7%. The company said this was primarily due to growth from Tubi as well as “stronger news ratings and pricing,” despite a drag from the absence of major soccer events as compared to the year-earlier quarter.

This post appeared first on NBC NEWS

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Trump answers question on whether he’ll try to run again

President Donald Trump answered Tuesday whether he would try to campaign for the White House a fourth time around. 

During a phone interview on CNBC’s ‘Squawk Box,’ Trump was discussing Bureau of Labor Statistics job numbers that he argues were ‘rigged’ during the 2024 presidential election to inflate former President Joe Biden’s economic performance. While discussing gerrymandering, Trump said he ‘got the highest vote in the history of Texas’ – a claim CNBC anchorman Joe Kernen initially challenged but then admitted a network fact-check showed Trump did get the highest number of votes in Texas. 

‘I got the highest vote in the history of Texas, a record that they say won’t be beaten unless I run again,’ Trump said. 

CNBC anchorwoman Rebecca Quick interjected, ‘Are you going to run again? The Constitution…’

‘No, probably not,’ Trump responded. ‘Probably not.’ 

‘And you’re not going to, and you’re not going to fire Jay Powell,’ Kernen added, referencing tensions between Trump and Federal Reserve Chairman Jerome Powell. 

Trump circled back to address Quick directly:  ‘I’d like to run,’ Trump told the anchorwoman. ‘I have the best poll numbers I’ve ever had. You know why. Because people love the tariffs, and they love the trade deals, and they love that countries – they love that foreign countries aren’t ripping us off. For years, they ripped us. A friend, and foe and a friend. And the friends were worse.’ 

The 22nd amendment of the U.S. Constitution says a person can be elected president only twice. If someone takes over as president – as a vice president would due to death or resignation – and serves more than two years in that term, the amendment states that person can only be elected president once more. It effectively sets a maximum of 10 years for any person to serve as commander-in-chief. 

George Washington set the tradition of stepping down as president after two terms, but the amendment came about in response to Franklin D. Roosevelt’s unprecedented four terms. Roosevelt served during the Great Depression and World War II. 

Trump earlier this year both teased and distanced himself from the idea of a third term, as some conservative circles have floated changing the 22nd amendment to allow an exception for nonconsecutive presidencies. 

Before Trump, the last and only other president to serve two nonconsecutive terms was Grover Cleveland in the late 1800s.

In May, Trump said he considered it a ‘compliment’ that ‘so many people’ wanted him to run in 2028 but said it was not something he was interested in pursuing. 

‘I have never had requests so strong as that. But it’s something to the best of my knowledge, you’re not allowed to do,’ Trump told MSNBC’s Kristen Welker. ‘There are many people selling the 2028 hat, but this is not something I’m looking to do. I’m looking to having four great years, and turn it over to somebody, ideally a great Republican. A great Republican to carry it forward. But I think we’re going to have four years, and four years is plenty of time to do something really spectacular.’ 

Trump said he believed the MAGA movement could survive without him, floating Vice President JD Vance and Secretary of State Marco Rubio as potential successors.

This post appeared first on FOX NEWS

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Trump appears on White House roof amid talks of historic renovations

President Donald Trump appeared on the roof of the White House on Monday, indicating to the press that he was reviewing potential renovations for the presidential residence.

Trump specifically appeared above the West Wing and the press briefing room, with reporters crowded on the White House lawn to see him. There was also heavy security during the appearance due to the president’s exposure.

Trump spoke with several people while on the roof, though the White House has not identified them or said what they discussed.

The appearance comes just days after Trump announced that he and private donors will fund an estimated $200 million cost of a new ballroom at the White House.

White House press secretary Karoline Leavitt said Thursday during a briefing that the construction is scheduled to begin in September and will be ‘completed long before the end of President Trump’s term.’

Trump similarly financed the installation of two 88-foot American flags flanking the White House earlier this year, each reportedly costing around $50,000.

‘The White House is currently unable to host major functions honoring world leaders in other countries without having to install a large and unsightly tent approximately 100 yards away from the main building’s entrance,’ Leavitt said, adding the new ballroom will be ‘a much-needed and exquisite addition.’

She said the United States Secret Service will provide the necessary security enhancements and modifications during the construction.

The project is intended to provide a dedicated space for hosting official events, state dinners and large ceremonial gatherings.

The planned 90,000-square-foot addition will accommodate approximately 650 seated guests and will stay true to the classical design of the White House.

Fox Business’ Amanda Macias contributed to this report

This post appeared first on FOX NEWS

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