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Monday, June 1, 2026

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Interesting Company News Today

TXNM Energy Puts Forth Plan to Advance Carbon-free Future

(NYSE: TXNM) TXNM Energy announced that its wholly-owned subsidiary PNM has submitted an application to the New Mexico Public Regulation Commission (NMPRC) for approval of new energy resources, including 800 MW of wind, 240 MW of solar, 610 MW of battery storage, and 40 MW of natural gas, as part of a $4.9 billion 5-year investment plan. The plan marks the complete elimination of coal as a generation source for PNM customers in 2031 and supports the transition to 100% carbon-free electricity under the Energy Transition Act (ETA). PNM is forecasting a 40% increase in customer electricity demand by 2032 and is soliciting an additional 50 - 250 MW of resources through a supplemental request for proposals. The application includes a new 345‑kV transmission line to deliver wind resources and aims to secure federal tax credits available under the Inflation Reduction Act before their expiration. The wind, solar, and battery storage resources will be secured from third parties, and the capital investments will generate property tax revenue for New Mexico communities and support local jobs. The application is subject to NMPRC approval, and subsequent applications will be filed for additional resources. The company projects that these resources will further PNM's 80% carbon-free progress through 2032.

Carnival Corporation Brings Cruise Industry's First LNG Bunkering to Latin America & Western Caribbean

(NYSE: CCL) Carnival Corporation became the first cruise company to refuel a ship with LNG at Isla Tropicale in Roatán, Honduras, marking a cruise industry first and advancing its overall decarbonization strategy. The company collaborated with government and industry partners to introduce Liquefied Natural Gas (LNG) bunkering to Latin America and the Western Caribbean, using a mobile LNG fueling solution to refuel Carnival Cruise Line's Carnival Jubilee. Carnival Corporation pioneered LNG use in the cruise industry in 2018 and now leads the industry with 11 LNG-capable cruise ships in operation. Since opening in 2009, Carnival Corporation has invested $93 million in Isla Tropicale, which has welcomed close to 9 million visitors and generated approximately $750 million in economic impact for Roatán. The destination supports more than 1,300 local jobs. By the end of 2033, the company expects seven additional LNG-capable ships to join the fleet.

Parex Resources Completes Acquisition of Frontera E&P, Becoming Colombia’s Largest Independent Oil & Gas Producer

(TSX:PXT) Parex Resources Inc. announced the successful closing of its acquisition of all the Colombian exploration and production assets of Frontera Energy Corporation for cash consideration of US$500 million, plus the assumption of net debt. The transaction includes an additional contingent payment of US$25 million payable upon the execution of a certain contract extension within 12 months. Parex acquired 100% of Frontera Petroleum International Holdings B.V. (“Frontera E&P”), adding 37,000 boe/d of cash-generating, low decline assets. The acquisition increases Parex’s scale to over 7.9 million acres of land and supports H2 2026 average production guidance of 82,000 to 91,000 boe/d. The effective transaction date is January 1, 2026, and free funds flow generated by Frontera E&P prior to closing will reduce net consideration paid. The company highlights enhanced capital efficiency, meaningful synergy potential, and a more resilient platform for long-term growth. Management projects benefits including projected synergies, enhanced capital efficiency, and strong free funds flow generation from its unhedged portfolio.

MAX Power Targets Next-Generation AI Infrastructure Powered by Natural Hydrogen Following Lawson Discovery

(CSE: MAXX) MAX Power Mining Corp. announced it has entered into a Memorandum of Understanding ("MOU") with TerraVolt Energy, LLC, EcoTech Building Solutions, and Carbon Neutral Growth Fund to evaluate the integration of Natural Hydrogen, modular power systems, sustainable building infrastructure, and associated produced brine waters from potential future Lawson development into next-generation AI and high-performance computing infrastructure. The MOU follows the completion on May 29, 2026, of a $25 million private placement with Eric Sprott, increasing his ownership position in MAX Power to 19%. TerraVolt is managing and developing a growing power portfolio exceeding 12 GW, enough to power approximately 10 million average homes. The collaboration is based on drilling confirmation of Canada’s first subsurface Natural Hydrogen system, with a potentially significant Helium component, at the Lawson Complex in Saskatchewan’s 475-km Genesis Trend. The parties have submitted an application under Innovation, Science and Economic Development Canada’s Sovereign AI Compute Infrastructure Program. The company projects that, if validated at the Lawson Complex, the model could represent an important evolution in how future AI infrastructure is powered, cooled, and deployed. The infrastructure framework under evaluation incorporates closed-loop water management concepts designed to recycle and repurpose a substantial portion of operational water requirements.

Athabasca Oil Corporation Announces New $500 Million Four-Year Credit Facility and Expanded Duvernay Energy Credit Facility

(TSX: ATH) Athabasca Oil Corporation has closed a new $500 million covenant-based credit facility with the Canadian bank market. The facility has a four-year term to May 2030 and includes annual extension rights. Duvernay Energy has also closed an upsized $75 million reserve-based credit facility. Pro forma for the new facilities, consolidated liquidity is approximately $870 million. As at March 31, 2026, the Company had a $60 million Net Cash position and $290 million of cash. Athabasca owns a 70% equity interest in Duvernay Energy Corporation. The company projects a fully funded Thermal Oil growth plan to greater than 60,000 bbl/d by 2030 and the expanded Duvernay Energy capital program announced in the first quarter 2026 results.

U92 Acquires Comprehensive Historical Technical Dataset for Its Kurupung Uranium Project

(TSXV:UTWO) U92 Energy Corp. has entered into a binding Asset Purchase Agreement to acquire the complete historical technical and exploration dataset relating to the Kurupung Uranium Project in Guyana for an aggregate deemed value of C$500,000, payable in common shares of the Company. The dataset covers more than a decade of systematic exploration work and supports the 92 km² advanced-stage uranium project. The deemed issue price per share will be the greater of C$0.40 per common share or the fifteen-day volume weighted average trading price of the Company's shares from the closing date of the transaction on the TSX Venture Exchange immediately prior to issuance. The shares will be subject to a statutory four-month hold period in accordance with applicable Canadian securities laws. The historical mineral resource estimate at Kurupung is 20.6 million pounds U₃O₈, with a breakdown of 10.6 million pounds Indicated and 10.0 million pounds Inferred at a cut-off grade of 0.03% (300ppm) U₃O₈, based on over 129,723 metres of drilling. The Company's 5,000 metre inaugural diamond drill program will target high-priority zones, including more than 14,000 metres of historical high-grade intersections across eight underexplored target areas. The company projects an updated mineral resource estimate and ongoing exploration and development catalysts through 2026 and beyond.

Deep Sea Minerals Corp. Achieves Substantial Compliance Determination From NOAA Under DSHMRA for Seabed Mineral Concessions

(CSE: SEAS) Deep Sea Minerals Corp. announced that the National Oceanic and Atmospheric Administration (“NOAA”) has determined that the Company’s application submitted under the Deep Seabed Hard Mineral Resources Act (“DSHMRA”) is in substantial compliance with applicable U.S. regulatory requirements. The Company’s seabed mineral concession spans approximately 150,000 km 2 within the Pacific Ocean across offshore exploration blocks defined by geographic coordinates under NOAA’s DSHMRA framework. Deep Sea Minerals states that it is one of only three publicly traded or public-market pathway companies to have received a NOAA substantial compliance determination under the DSHMRA regulatory process. The determination does not constitute a decision regarding certification of the application or the issuance or transfer of any license or permit. Polymetallic nodules found on the deep ocean floor contain critical minerals including nickel, cobalt, copper, and manganese, which are essential inputs for electrification, energy infrastructure, defense applications, and advanced manufacturing technologies. The company projects ongoing scientific assessment, stakeholder engagement, and adherence to evolving regulatory standards. Deep Sea Minerals has commenced early-stage engagement with selected governments and regulatory bodies in the Pacific Ocean region to assess potential pathways for future exploration initiatives.

Metals Creek and Benton Substantially Increase Its Land Holdings at Smoking Gun and Parsons Pond Hydrogen-Helium Projects in Newfoundland

(TSXV:MEK) Metals Creek Resources Corp. and Benton Resources Inc. have substantially increased their land positions in the Deer Lake Basin, more than doubling the size of the Smoking Gun Project from 242 claim units to 654 claim units covering 163.5 km2. The Companies have jointly acquired through staking an additional 214 claim units at Parson's Pond, expanding the project from 427 claim units to 641 claim units, covering 160.3 km2. Recent research from historical data has revealed highly anomalous helium with values up to 8,900 parts per billion (ppb) in water collected from an historic drill hole (79-67), located approximately 11.8 km from drill hole (Mills No. 1) that encountered high pressure gas that flowed for a minimum of 12 months. Research of the historical drill logs in two holes 14.2 km apart at Parson's Pond have observed C1 methane gas levels reaching 72%. The companies hired Neil Pendock to conduct early target identification using hyperspectral satellite imagery identifying hot spots for testing Hydrogen and Helium. The company projects immediate field follow-up will include high-density soil gas sampling and localized fracture-network mapping around the Seamus and Finnigan corridors to identify primary drilling targets for natural hydrogen and commercial helium.

REV Closes $4 Million Private Placement With Eric Sprott to Accelerate Helium and Natural Hydrogen Exploration and Drill Programs

(TSXV:REVX) REV Exploration Corp. has closed a strategic non-brokered private placement with Mr. Eric Sprott for gross proceeds of $4.0 million. The Private Placement consisted of 4,210,526 units at $0.95 per unit, each unit including one common share and one-half of one common share purchase warrant, with each whole warrant exercisable at $1.20 per share for 24 months. Aggregate cash finder’s fees of $200,000, representing 5% of the gross proceeds, were paid to certain arm’s length finders. Mr. Sprott now owns 10,877,193 common shares and 2,105,263 warrants, representing approximately 18.1% of the issued and outstanding common shares (non-diluted) or 20.9% (partially diluted). The company also granted incentive stock options to consultants to acquire a total of 450,000 common shares at an exercise price of $1.05 per share, vesting immediately, with a five-year term. The company intends to use the net proceeds from the Private Placement to fund its exploration activities and for general working capital purposes. The company projects the advancement of its mineral properties and future business plans and exploration activities.

EnCore Energy Extends Uranium Mineralization 3,700 Feet at Alta Mesa East

(NASDAQ: EU) (TSXV: EU) enCore Energy Corp. announced positive results from initial exploration drilling tests on its Alta Mesa East ("AME") property, immediately adjacent to the Alta Mesa wellfields and extraction operations. The initial results confirmed uranium mineralization extending more than 3,700 feet to the east from the nearest wellfield, with drilling averaging a total depth of approximately 600 feet below the surface. Exploration drilling at the 5,900-acre AME Project is advancing with 6 drilling rigs in operation, targeting productive roll fronts from Alta Mesa wellfields 1, 3, 3EXT, 4, 5B, and 7. The final results are reported for the initial 17 holes, of which 10 were mineralized, including six holes ranging from 0.351 to 2.297 Grade Thicknesses ("GT"). Mineralization was discovered within the Middle C sands at depths between 400 and 460 feet, and within Lower C sands between 480 and 520 feet below surface. The company has identified four saturated mineralized sandstone horizons within the Pliocene Goliad Formation lying approximately 400 to 520 feet below the surface. Management states that future projects in enCore's planned project pipeline include the expansion of Alta Mesa to include the Alta Mesa East property, the Dewey-Burdock project in South Dakota, and the Gas Hills project in Wyoming.

Homeland Identifies New Radiometric Surface Showing at the Cross Bones Uranium Project, Colorado

(TSXV: HLU) Homeland Uranium Corp. announced the completion of its detailed surface geological mapping, prospecting, radiometric surveying, and rock sampling program at its 100%-owned Cross Bones Uranium Project. The program discovered a new area of surface radioactivity, the East Ridge Showing, approximately 4.5 km (2.8 miles) east-south-east and along strike of the Blue Flame Adit area, with significant radioactivity ranging from 450 to 3,400 cps detected in outcrop over a strike length of 500 m (1,640 ft). In Area 1B, outcrops returned 4000 cps and 3000 cps using the CT007-M instrument, and a sample east of the Cross Bones Uranium Deposit returned 2,200 cps (CT-007), while another sample returned 2,200 cps using a PGIS-2 portable gamma-ray spectrometer. In Area 2B, a sample from a carbonaceous shale outcrop returned approximately 600 cps (CT-007), and a high-grade rock sample adjacent to the property boundary returned 4,257 ppm U3O8. The mapping program ran from April 22, 2026 to May 23, 2026, with 67 samples (including duplicates) to be submitted to Paragon Geochemical Laboratories for multi-element analysis. The company projects that results from the program are expected to contribute to its geological understanding of uranium mineralization and assist in refining targets for future drill programs at the Cross Bones Deposit, the East Ridge Showing, and other areas on the property.

Bayridge Resources Announces Non-Brokered Private Placement and Concurrent FT Private Placement

(CSE: BYRG) Bayridge Resources Corp. announced that it intends to complete a non-brokered private placement of up to 5,000,000 units at a price of $0.20 per Unit for aggregate gross proceeds of up to $1,000,000. Each Unit will consist of one common share and one-half of one common share purchase warrant, with each whole warrant exercisable for one additional common share at a price of $0.30 per Warrant Share for a period of 24 months from the date of issuance. The company also announced a concurrent non-brokered flow through private placement of up to 5,000,000 flow-through units at a price of $0.225 per FT Unit, for aggregate gross proceeds of up to $1,125,000. Proceeds from the sale of the Units are intended to be used for general working capital purposes including to fund exploration work on the Company's Baker Lake Uranium Project and Waterbury East Project, as well as the evaluation of additional mineral property opportunities. The Baker Lake Uranium Project comprises 83 contiguous claims covering approximately 619 km² in the Kivalliq Region of Nunavut, and exploration has defined a 75-kilometre unconformity corridor hosting multiple uranium targets. Bayridge has also earned a 40% interest in the Waterbury East Project, located approximately 25 kilometres northeast of the Cigar Lake Mine in the northeastern Athabasca Basin, where geophysical surveys have identified a 7-kilometre conductivity corridor. The company projects that significant portions of this corridor remain untested.

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