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July 31, 2025

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Saga Metals Corp. (‘SAGA’ or the ‘Company’) (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H) a North American exploration company focused on critical mineral discovery, is pleased to announce SAGA’s team has completed the 4 km access trail along the core of the Trapper zone providing necessary access for future drill programs and exploration activities. The access trail is located to run along the surface trend of extensive outcropping and sub-cropping oxide layers. In addition, a 25-tonne excavator from Gladiator drilling has opened 3 trenches across the two significant aeromagnetic anomalies of the Trapper zone, exposing a total of 504m 2 (5,425ft 2 ) of semi-massive to massive vanadiferous titanomagnetite (‘VTM’) mineralization.

 

 

 

   Figure     1     :    Radar Pro   ject’s Trapper Zone depicting two aeromagnetic anomalies and the trend of the inferred oxide layering. The Trapper trail will support a new diamond drilling program.   SAGA has demonstrated    the reliability of the regional airborne magnetic surveys after ground-truthing and drilling    in the 2024 and 2025 field programs.  

 

Located just 10 km from Cartwright, Labrador, the 24,175-hectare Radar Titanium Project is supported by existing infrastructure, including road access, a deep-water port, an airstrip, and nearby hydroelectric power. The property completely encompasses the Dykes River Intrusive Complex, a previously underexplored layered mafic body.

 

With a large oxide layering thickness, a near-monomineralic Vanadiferous Titanomagnetite (VTM) composition, and extensive mineral tenures, the Radar Titanium Project shows the potential to become a globally significant VTM project.

 

 

 

   Figure 2:    Radar Property map, depicting aeromagnetic anomalies, oxide layering and the site of the 2025 drill program. The Property is well serviced by road access and is conveniently located near the town of Cartwright, Labrador. A compilation of historical aeromagnetic anomalies is shown. SAGA has demonstrated    the reliability of the regional airborne magnetic surveys after ground-truthing and drilling    in the 2024 and 2025 field programs.  

 

  2025 Summer Field Program – Road Maintenance, Trail Access, Trenching and Geophysics  

 

The 2025 summer field program marked a critical phase in advancing the exploration efficiency and cost-effectiveness of future drill programs and exploration activities in the western portion of the property, including the highly prospective Trapper zone. Key components of this program include:

 

  1. Maintenance of the forestry road
  2.  

  3. Construction of the drill rig compatible access trail across the Trapper zone
  4.  

  5. Trenching in the Trapper and Hawkeye zones
  6.  

  7. Ground-based magnetometer surveys over the two major anomalies in the Trapper zone
  8.  

  1.   Forestry Road Maintenance:  
  2.  

The first step for the team was to perform maintenance on the Cartwright Forest Service road, which had not seen regular clearing for the last few decades. This work included:

 

  •   Objective: Clear overgrown sections of the existing forestry road to enable access for trucks and heavy equipment to reach the laydown area. This road is essential for allowing the team proper access to the west of the property claims, and includes an equipment lay-down area and an access trail into the Trapper Zone.
  •  

  •   Work: Brush-cutting and removal with heavy equipment.
  •  

  •   Equipment: Brush-saws, Chain-saws, 6-tonne excavator, 25-tonne excavator.
  •  

  •   Outcome: The 4.2 km of refurbished track now provides reliable access to the lay-down area, enhancing logistical efficiency for the Trapper zone trail building.
  •  

 

 

   Figure 3.1:    Completed maintenance on the Cartwright Forest Service Road  

 

 

 

   Figure 3.2:    Start of the Trapper Zone Trail, viewed from the lay down along the Cartwright Forest Service Road  

 

2. Trapper Trail Construction:  

 

The next phase of infrastructure development aimed to upgrade the pre-existing snowmobile/ATV trail into a drill rig-compatible trail, which gains access to the heart of the Trapper zone and extends past the two major anomalies. This work included:

 

  •   Facilitate Access: Provide direct trail access into the Trapper Zone on the western extent of the 20 km aerial oxide layer of the Dykes River Intrusion, connecting the eastern Hawkeye Zone to the western Trapper Zone.
  •  

  •   Support Drilling Operations: Enable efficient mobilization of diamond drilling equipment to high-priority targets identified through geophysical surveys within the Trapper zone.
  •  

  •   Enhance Cost Efficiency: Reduce logistical costs for future exploration campaigns by leveraging existing infrastructure and minimizing reliance on helicopter support.
  •  

  •   Ensure Sustainability: Minimize environmental impact through strategic trail planning and compliance with Newfoundland and Labrador’s permitting requirements.
  •  

 

 

   Figure 3.3:    Excavator and work truck located along the Trapper Trail over the northern portion of the oxide layer trend within the Trapper zone.  

 

3. Trapper & Hawkeye Zone Trenching:  

 

The trenches within the Trapper zone were identified as targets due to extremely high readings on the GSM-19 Magnetometer. On numerous occasions, the geophysics team had the GSM-19 Magnetometer Instruments reading well beyond the highest highs of the Hawkeye zone, which reached 74,000 nt.

 

Upon trenching these locations, it was discovered that the presence of semi-massive to massive VTM – oxide layering outcrops were not far from the surface. A total of 504m 2 (5,425ft 2 ) was trenched across the oxide layering strike in the north and south anomalies of the Trapper zone. Work is ongoing to complete pressure washing of the outcrops, clearing away dirt and debris to better show the structure and mineralogy of these exposures.

 

 

 

   Figure 4.1:    Excavator and Michael Garagan (CGO & Director of SAGA) standing on a VTM oxide layer outcrop in the northern anomaly at the Trapper zone.  

 

 

 

   Figure 4.2:    Semi-massive to Massive VTM oxide layer outcrop in the southern anomaly at the Trapper zone.  

 

4. Trapper Zone Geophysics:  

 

As previously reported, SAGA mobilized two geophysical crews to complete magnetic and VLF-electromagnetic survey coverage across the north and south anomalies within the Trapper Zone.

 

SAGA’s geophysics team has continued to report strong magnetic detection levels over both anomalies, requiring recalibration of the geophysical instruments. The team is excited to report that readings have exceeded the 74,000 nT detected in the Hawkeye zone, with readings recorded as high as 115,498 nT over the northern Trapper zone anomaly and over 113,000 nT over the southern Trapper zone anomaly. In some cases, the instruments reached the maximum level of detection (120,000 nt).

 

 

 

   Figure 5:    Reading off of the Magnetometer GSM-19 geophysical instrument recording 115,498 nT over the Tapper zone.  

 

SAGA’s geophysics team is working to complete the remaining lines over the coming days and will be the subject of a future new release in the near term.

 

  Michael Garagan, CGO & Director of SAGA stated:   ‘This summer has been a critical juncture in the development of the project and preparation for efficient and cost-effective drilling in the future. We believe that with the infrastructure upgrades completed our drilling cost per meter has come down significantly, setting us on the right track to reach our goal of approximately $300-$350/m. SAGA’s plans and objectives over the next 12-month are to complete a 10,000-15,000-meter drill program, setting the stage for the completion of a maiden resource calculation. A project like this, with homogenous geochemistry and large oxide layers, can move towards a resource calculation with 100 m drill spacing over the 2.5 km stretch of the entire oxide layering strike that runs continuously through the Trapper zone.’  

 

  Qualified Person  

 

Paul J. McGuigan, P. Geo., is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information related to the Radar Ti-V-Fe Project disclosed in this news release.

 

  About Saga Metals Corp.  

 

 Saga Metals Corp. is a North American mining company focused on the exploration and discovery of a diversified suite of critical minerals that support the global transition to green energy. The Radar Titanium Project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km² on the surface near Cartwright, Labrador. Exploration to date, including a 2,200m drill program, has confirmed a large and mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) with strong grades of titanium and vanadium.

 

The Double Mer Uranium Project, also in Labrador, covers 25,600 hectares featuring uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U 3 O 8 and uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).

 

Additionally, SAGA owns the Legacy Lithium Property in Quebec’s Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Metals.

 

With a portfolio that spans key minerals crucial to the green energy transition, SAGA is strategically positioned to play an essential role in the clean energy future.

 

  On Behalf of the Board of Directors  

 

  Mike Stier, Chief Executive Officer  

 

For more information, contact:

 

Rob Guzman, Investor Relations
Saga Metals Corp.
Tel: +1 (844) 724-2638
Email: rob@sagametals.com
www.sagametals.com

 

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

 

  Cautionary Disclaimer  

 

This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipates’, ‘expects’, ‘believes’, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the exploration of the Company’s Radar Project. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, inherent risks and uncertainties involved in the mineral exploration and development industry, particularly given the early-stage nature of the Company’s assets, and the risks detailed in the Company’s continuous disclosure filings with securities regulations from time to time, available under its SEDAR+ profile at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

 

Photos accompanying this announcement are available at:

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/e8128200-d3b7-48da-aee0-484bad883fca  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/6c8d3aa5-99b1-4eba-ab0c-616ac8aa84eb  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/26751ee2-942d-431f-8bf1-c64df78353de  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/fdf6776f-80be-4a01-b78b-1dcc786d5051  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/66c2fa8f-6518-4aed-988f-09d98f483a25  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/c5ff730b-9a14-4cad-843f-696bcf80efad  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/63807f35-1f7c-4a3c-b3c7-6fa0df9d0d83  

 

  https://www.globenewswire.com/NewsRoom/AttachmentNg/42529e33-6d14-4c03-bfc4-9ec7030a7fc6  

 

   

 

 

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Homerun Resources Inc. (TSXV: HMR,OTC:HMRFF) (OTCQB: HMRFF) (‘Homerun’ or the ‘Company’) is pleased to announce that Strand Hanson Limited has been appointed as its UK Financial Adviser.

This engagement marks a significant step as Homerun evaluates a potential dual listing on the international commercial companies secondary listing segment of the FCA’s Official List, and admission to trading on the Main Market of the London Stock Exchange (LSE).

Strand Hanson Limited is a leading independent financial advisory firm based in London, known for its expertise in corporate finance and capital markets. With a strong track record in advising growth companies, particularly in the natural resources and energy sectors. Their extensive experience in advising international companies on LSE listings brings valuable insight to Homerun’s growth objectives and ambition to increase its global investor base.

Homerun is a vertically integrated materials leader revolutionizing green energy solutions through advanced silica technologies. As an emerging force outside of China for high-purity quartz (HPQ) silica innovation, the Company controls the full industrial vertical from raw material extraction to cutting-edge solar, battery and energy storage solutions.

The decision to pursue a dual listing on the London Stock Exchange supports Homerun’s strategy of expanding its capital markets presence, improving share liquidity, and enhancing visibility with institutional and retail investors worldwide. London, as one of the world’s premier financial centers, offers unparalleled access to international capital and a diverse range of sophisticated investors.

This move will position Homerun to:

  • Broaden its shareholder base beyond North America.
  • Access deeper pools of capital and improve funding flexibility.
  • Enhance the Company’s brand recognition in the UK and European markets.
  • Attract high-caliber institutional investors who are active on the LSE.
  • Offer investors increased trading flexibility, transparency, and regulatory standards associated with London’s Main Market.

Commenting on the partnership, CEO, Brian Leeners, stated: ‘We are excited to welcome Strand Hanson Limited as our UK Financial Adviser. Their proven track record and expertise with London listings will be instrumental as we assess the merits of a dual listing on the Main Market of the London Stock Exchange, aligning with our objectives to create greater value for our shareholders.’

About Homerun (www.homerunresources.com)

Homerun (TSXV: HMR,OTC:HMRFF) is a vertically integrated materials leader revolutionizing green energy solutions through advanced silica technologies. As an emerging force outside of China for high-purity quartz (HPQ) silica innovation, the Company controls the full industrial vertical from raw material extraction to cutting-edge solar, battery and energy storage solutions. Our dual-engine vertical integration strategy combines:

Homerun Advanced Materials

  • Utilizing Homerun’s robust supply of high purity silica sand and quartz silica materials to facilitate domestic and international sales of processed silica through the development of a 120,000 tpy processing plant.

  • Pioneering zero-waste thermoelectric purification and advanced materials processing technologies with University of California – Davis.

Homerun Energy Solutions

  • Building Latin America’s first dedicated high-efficiency, 365,000 tpy solar glass manufacturing facility and pioneering new solar technologies based on years of experience as an industry leader in developing photovoltaic technologies with a specialization in perovskite photovoltaics.

  • European leader in the marketing, distribution and sales of alternative energy solutions into the commercial and industrial segments (B2B).

  • Commercializing Artificial Intelligence (AI) Energy Management and Control System Solutions (hardware and software) for energy capture, energy storage and efficient energy use.

  • Partnering with U.S. Dept. of Energy/NREL on the development of the Enduring long-duration energy storage system utilizing the Company’s high-purity silica sand for industrial heat and electricity arbitrage and complementary silica purification.

With six profit centers built within the vertical strategy and all gaining economic advantage utilizing the Company’s HPQ silica, across, solar, battery and energy storage solutions, Homerun is positioned to capitalize on high-growth global energy transition markets. The 3-phase development plan has achieved all key milestones in a timely manner, including government partnerships, scalable logistical market access, and breakthrough IP in advanced materials processing and energy solutions.

Homerun maintains an uncompromising commitment to ESG principles, deploying the cleanest and most sustainable production technologies across all operations while benefiting the people in the communities where the Company operates. As we advance revenue generation and vertical integration in 2025, the Company continues to deliver shareholder value through strategic execution within the unstoppable global energy transition.

On behalf of the Board of Directors of

Homerun Resources Inc.

‘Brian Leeners’

Brian Leeners, CEO & Director
brianleeners@gmail.com / +1 604-862-4184 (WhatsApp)

Tyler Muir, Investor Relations
info@homerunresources.com / +1 306-690-8886 (WhatsApp)

FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains ‘forward-looking statements’ within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be ‘forward-looking statements’.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260662

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Here’s a quick recap of the crypto landscape for Wednesday (July 30) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$16,964, down by 0.5 percent over the last 24 hours. Its highest valuation on Wednesday was US$118,644, while its lowest valuation was US$116,079.

Bitcoin price performance, July 30, 2025.

Chart via TradingView

Markets rallied briefly following the release of the White House’s crypto policy report, which called for greater SEC clarity and new legislation to regulate digital assets, but pulled back after the Federal Reserve left interest rates unchanged and warned of slowing economic growth.

Ethereum (ETH) was priced at US$3,764.26, down by 0.1 percent over the past 24 hours. Its lowest valuation on Wednesday was US$3,708.13, and its highest was US$3,820.17.

Altcoin price update

  • Solana (SOL) was priced at US$176.09, down by 2.9 percent over 24 hours. Its lowest valuation on Wednesday was US$173.22, and its highest was US$179.83.
  • XRP was trading for US$3.10, down by 0.6 percent in the past 24 hours. Its lowest valuation of the day was US$3.04, and its highest valuation was US$3.15.
  • Sui (SUI) is trading at US$3.77, down 1.3 percent over the past 24 hours. Its lowest valuation of the day was US$3.66, and its highest was US$3.81.
  • Cardano (ADA) was trading at US$0.7600, down by 2.3 percent over 24 hours. Its lowest valuation on Wednesday was US$0.7414, and its highest was US$0.7759.

Today’s crypto news to know

Ethereum marks a decade since launch

Ethereum marked its 10th anniversary on July 30 with growing corporate interest in Ether as a potential treasury reserve asset.

The Ethereum network launched in 2015 and has since maintained uninterrupted uptime, becoming the backbone of the decentralized finance (DeFi) movement. In the lead-up to the anniversary, Ether’s price approached US$4,000, driven in part by renewed institutional inflows and growing confidence in the asset’s long-term utility.

The Ethereum Foundation will commemorate the milestone by issuing celebratory NFTs and organizing more than 100 events globally.

A live broadcast featuring Vitalik Buterin, Joseph Lubin, and Tim Beiko will also be hosted to reflect on the network’s origins and future direction.

SEC greenlights in-kind ETP creations and redemptions

On Tuesday, July 29, the Securities and Exchange Commission (SEC) gave its approval for in-kind creations and redemptions by authorized participants for crypto asset exchange-traded products (ETPs).

“It’s a new day at the SEC, and a key priority of my chairmanship is developing a fit-for-purpose regulatory framework for crypto asset markets,” said Chairman Paul Atkins in the announcement. “Investors will benefit from these approvals, as they will make these products less costly and more efficient.

“Today’s approvals continue to build a rational regulatory framework for crypto, leading to a deeper and more dynamic market, which will benefit all American investors. This decision aligns with the standard practices for similar ETPs.”

Authorized institutions can now directly exchange crypto assets like Bitcoin or Ethereum for shares of a crypto ETP, and vice versa, making these products more efficient and potentially cheaper to manage than when only cash transactions were allowed.

Senator Lummis proposes bill to allow digital assets for mortgages

In a Tuesday notice, Wyoming Senator Cynthia Lummis introduced the 21st Century Mortgage Act, a law that could compel mortgage purchasers to consider digital assets in applications.

Lummis said her proposed bill would initiate congressional action following a June order from the US Federal Housing Finance Agency (FHFA) that mandated US mortgage purchasers Fannie Mae and Freddie Mac “consider cryptocurrency as an asset for single-family loans.”

“This legislation embraces an innovative path to wealth-building, keeping in mind the growing number of young Americans who possess digital assets,” said Lummis.

A similar crypto mortgage proposal, the American Homeowner Crypto Modernization Act, was introduced by Republican Representative Nancy Mace on July 14. Mace’s proposed bill would mandate that mortgage lenders incorporate the value of a borrower’s digital assets held in cryptocurrency brokerage accounts into their mortgage credit evaluations.

The bill is one of three that the US Senate may consider after a month-long recess, alongside a digital asset market structure bill and a bill aimed at barring the Federal Reserve from launching a central bank digital currency.

eToro expands 24/5 trading and tokenizes US stocks

Trading platform eToro has announced plans to expand its current 24/5 trading for 100 popular US stocks and ETFs, meaning customers can now trade these assets five days a week, almost around the clock, even outside regular market hours.

Co-founder and CEO Yoni Assia spoke with Yahoo Finance Executive Editor Brian Sozzi about the move on Tuesday (July 29).

“We’re expanding a lot of the trading universe and trading hours on the eToro platform. Announced today, more 24-hour stock trading on the platform, as well as near 24/5 trading on exchange CME traded futures, a new type of futures product,” Assia said.

“That’s very exciting for our users worldwide. And very excited also about revamping tokenization in eToro, launching those 100 stocks that trade 24/5 on the eToro platform as tokenized assets, gradually available to people with the eToro crypto wallet.”

The company also announced the launch of tokenized versions of these same US stocks as ERC20 tokens on the Ethereum blockchain.

This will eventually enable true 24/7 trading and transfers, and is part of eToro’s strategy to tokenize all assets on their platform and integrate them into the broader decentralized finance world. They’re also rolling out spot-quoted futures with CME Group, a simpler futures product, currently in Europe, with plans for wider availability.

Trump Working Group calls for aggressive federal action on crypto markets

A White House-appointed working group on digital asset markets has released a sweeping set of recommendations to overhaul US crypto policy, according to a preview.

The group, established under an executive order by Donald Trump in January, urged Congress to pass the Digital Asset Market Clarity Act and called on regulators to use existing powers to support immediate crypto market growth.

The report recommends that the Commodity Futures Trading Commission be granted broader oversight over spot markets for non-security tokens and that safe harbor provisions be used to accelerate product launches.

It also advises federal banking regulators to clarify permissible crypto-related bank activities and modernize capital rules to reflect token-based risks.

The Trump administration said the proposals would help ensure US leadership in the “blockchain revolution” and usher in a “Golden Age of Crypto.”

JPMorgan to let Chase customers buy Crypto via Coinbase

JPMorgan Chase (NYSE:JPM)has announced a major partnership with Coinbase that will allow Chase credit card users to purchase cryptocurrencies directly from the exchange.

The service is expected to roll out in fall 2025, with full account-linking functionality available by 2026. Customers will also be able to redeem Chase credit card reward points for USDC, a stablecoin pegged to the US dollar.

The move marks a notable shift in the firm’s stance toward crypto, going from a cautious observer to an active participant in retail-focused blockchain infrastructure.

With crypto’s total market cap recently crossing US$4 trillion, large banks are now racing to integrate digital asset capabilities into their core offerings.

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

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

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The psychedelic drugs market is emerging as a strategic investment opportunity in healthcare, with forecasts generally placing its value around US$6.4 billion in 2025.

This burgeoning sector is set for robust, double-digit compound annual growth, significantly driven by North America, which is anticipated to account for approximately 45–50 percent of this market.

The first half of 2025 was characterized by clinical advancements and softening policy stances, furthering momentum and contributing to growing market interest.

Clinical progress and policy shifts drive market interest

Interest in the space continued in H1 as drug candidates advanced into pivotal trials, particularly in the treatment of depression, anxiety and PTSD. Cybin (NYSEAMERICAN:CYBN) reported meaningful progress, citing investor and regulatory confidence in the therapeutic potential of psilocybin, LSD analogs and DMT derivatives.

Cybin’s 2025 financial results, released on June 30, highlighted significant progress in its lead programs, as well as its strong financial position, with C$135 million in cash reported.

CEO Doug Drysdale emphasized the company’s progress in building a strong foundation for anticipated clinical and regulatory milestones.

Key highlights include strengthened intellectual property with new patents for CYB003 and CYB004, strategic partnerships with Osmind and Thermo Fisher Scientific, and promising Phase 2 efficacy data for CYB003 in MDD, showing 100 percent responder rates and 71 percent remission with two 16 mg doses. The Phase 2 study for CYB004 in GAD is underway and expected to be completed around mid-2025.

Likewise, COMPASS Pathways (NASDAQ:CMPS) announced that its COMP360 psilocybin treatment successfully met its primary goal in a Phase 3 trial for treatment-resistant depression on June 23.

A single 25mg dose of COMP360 significantly reduced depression symptoms compared to a placebo at six weeks, showing a clinically meaningful difference and strong statistical significance. This marks the first Phase 3 efficacy data reported for a classic psychedelic, and Compass Pathways said it plans to discuss these positive results with the FDA.

Policy signals were equally consequential. Notably, the Texas House and Senate passed SB 2308 in May, which will provide up to US$100 million in state funds for ibogaine trials.

The results of the trials will be presented to the US Food and Drug Administration (FDA) for potential approval of ibogaine for opioid use disorder, co-occurring substance use disorder and other neurological or mental health conditions. Governor Abbott signed the bill into law on June 11, representing a notable and progressive shift in the Republicans’ approach to drug policy.

However, the sector continues to face real challenges, such as costly clinical access and inconsistent regulatory frameworks that have resulted in a patchwork of state-level regulations. Despite these challenges, there are ongoing efforts towards federal reform and standardized guidelines.

Health Secretary Robert F. Kennedy Jr. recently told members of Congress that new therapeutics using psychedelic substances could revolutionize treatment for mental health challenges.

‘This line of therapeutics has tremendous advantage if given in a clinical setting and we are working very hard to make sure that happens within 12 months,” he said during a House subcommittee meeting regarding the Trump administration’s proposed budget for the US Department of Health and Human Services (HHS).

FDA head Marty Makary has likewise labeled the assessment of MDMA and other psychedelics as a “top priority,” announcing initiatives aimed at potentially expediting their approval.

One new program in particular aims to accelerate drug approval, potentially cutting review times from six months to one month.

This initiative might relax requirements for some drugs, possibly waiving placebo-controlled studies, which have been a hurdle for psychedelic research because patients often know if they’ve received the drug.

Looking ahead

The National Psychedelic Landscape Assessment (NPLA) identifies 11 states with a high likelihood of future movement based on legislative viability, advocacy strength, public support, legislative momentum and strategic impact: New Mexico, Nevada, Texas, Illinois, Missouri, California, Massachusetts, Connecticut, Indiana, New York and Arizona.

The report also points to several key trends and persistent challenges in the current psychedelic market.

Decriminalization at the state level has seen an enactment rate of just two percent, despite being a frequently introduced legislative concept, with 67 bills introduced since 2020. Movements have been hampered by public health and safety concerns, although local efforts are gaining momentum.

However, adult-use access has seen no legislative enactments through state legislatures, with existing programs in Oregon and Colorado being implemented predominantly via citizen-led ballot initiatives.

When it comes to medical access programs, New Mexico stands out as the sole state to successfully enact a licensed and regulated psilocybin therapy program through SB 219, battling hurdles such as regulatory complexity, affordability and securing sufficient provider participation.

The report also found that clinical trials have been gaining traction, particularly when state-funded and focused on vulnerable populations like veterans and first responders, with Indiana emerging as a leader in this area.

The state established a therapeutic psilocybin research fund in 2024 that compares psilocybin against existing treatments, and ensures transparent fund administration and research application processing.

A more moderate approach is seen in pilot programs, which offer a controlled environment for access and data collection. The crucial step of implementing legislation, necessary to operationalize enacted policies, shows a 50 percent success rate, according to the report’s findings.

The report also points to corporate influence and the strategic efforts by corporate entities to gain commercial advantage through state trigger laws and compound-specific legislation favoring patented compounds like COMP360.

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

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The US Federal Reserve held its fifth meeting of 2025 from Tuesday (July 29) to Wednesday (July 30) against a backdrop of trade tensions, spurred on by the Trump administration’s tariffs.

The central bank met analysts’ expectations by holding its benchmark rate in the 4.25 to 4.5 percent range.

Chair Jerome Powell stated that although there were differences of opinion among the Federal Open Markets Committee members, they were clear on why they made their decisions, noting that inflation was tracking higher, but the job market remained stable.

“The labor market looks solid, inflation is above target, and even if you look through the tariff effects, we think it’s still a bit above target, and that’s why our stance is where it is,” Powell said.

The Fed chair also noted a slowing in gross domestic product, which he pointed out was up 2.5 percent in 2024, but initial data from 2025 points to a slowing in growth to 1.1 percent.

The vote to hold the rate was 9-2, with Governors Michelle Bowman and Christopher Waller being the dissenters who advocated for cuts. It marks the first time since December 1993 that two board members have broken with consensus.

Both Bowman and Waller were appointed by Donald Trump during his first term in office, with Waller being one of the front-runners to replace Powell when his term as board chairman ends in May 2026.

Trump has been critical of Powell in recent months, with the latest statements coming just minutes before the Fed meeting. The president has said Powell has not moved quickly enough to make rate cuts, despite data suggesting inflation has been starting to increase.

North of the Border, the Bank of Canada (BoC) also held its June meeting on Wednesday.

It also met expectations by holding its benchmark rate at 2.75 percent, with Bank Governor Tiff Macklem citing resilience in the economy despite trade disputes brought on by the Trump administration in the United States.

The BoC last changed its rate with a 0.25 percent cut in March to the current 2.75 percent from 3 percent.

Gold was down in the day’s trading, losing 1.6 percent to US$3,272.75 per ounce. Silver declined more sharply, losing 3.37 percent to US$36.93 per ounce at 3:30 p.m. EST.

The S&P 500 (INDEXSP:INX) was down, recording a 0.4 percent decline to reach 6,344.17. The Nasdaq-100 (INDEXNASDAQ:NDX) slipped 0.17 percent to come in at 23,265 , and the Dow Jones Industrial Average (INDEXDJX:DJI) lost 0.74 percent, coming to 44,297.

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

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A member of former President Joe Biden’s inner circle sat with House Oversight Committee investigators for a marathon closed-door interview that lasted more than eight hours on Wednesday.

Steve Ricchetti, who served as counselor to the president for all four years of Biden’s term, was described as ‘combative and defensive’ during his voluntary meeting, a source familiar with the sitdown told Fox News Digital.

The source described Ricchetti as defiant in the face of doubts about Biden’s mental acuity, though he ‘admitted that they all knew President Biden’s age was an issue and were dealing with it as a political matter,’ they said.

‘Mr. Ricchetti stated that he believed President Biden had the ability to be president and that he was performing the capacity of president every day. He believes that Joe Biden is capable to being president today, and that he could have won in 2024,’ the source told Fox News Digital.

Ricchetti, a longtime Democratic operative and lobbyist, first began working for Biden in March 2012 when he was appointed counselor to the vice president under former President Barack Obama. He was elevated to be Biden’s chief of staff in December 2013.

He touted his closeness to Biden over the last 13 years, the source said, and described having personal relationships with former first lady Jill Biden and Hunter Biden as well.

Ricchetti’s own children were also close to the White House during Biden’s tenure – at least three of them had jobs in the Democratic administration at some point.

House Oversight Committee Chairman James Comer, R-Ky., is investigating whether Biden’s top White House aides concealed signs of mental decline in the president, and if that meant executive actions were signed via autopen without his knowledge.

Ricchetti is the seventh ex-Biden aide to come in, but just the fourth to appear on voluntary terms. Former White House doctor Kevin O’Connor and former White House aides Annie Tomasini and Anthony Bernal all pleaded the Fifth Amendment to avoid answering questions.

Ricchetti told investigators that he was not involved in O’Connor’s physical evaluation letters for Biden, ‘but he did have conversations with senior staff on how to communicate and present President Biden’s physical evaluation letters,’ the source told Fox News Digital.

He also defended Biden’s frequent gaffes, describing them as ‘common mistakes’ that anyone could make, the source said.

‘He said the frequency of these mistakes have not increased since Joe Biden was vice president,’ the source said.

The majority of questioning during the eight-hour session came from Republicans – the source said Democrats frequently attempted to change the topic to discuss President Donald Trump.

Ricchetti said nothing to reporters when leaving the meeting on Wednesday evening.

No lawmakers were present for the sitdown, as is usually the case with such transcribed interviews.

Fox News Digital reached out to Ricchetti’s attorney for comment but did not hear back by press time.

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If you haven’t heard the name Sydney Sweeney before, odds are you definitely know her name now if you consume any news at all. American Eagle featured the actress in their new ad campaign that kicked off last week, and liberal women lost their ever loving minds. 

What triggered their spiral this time? Sydney has ‘good genes’ and she’s wearing ‘jeans.’

Outrageous, I know.

This good genes/jeans word play game, well it’s a whole lot of Nazi propaganda with some racism thrown in and linked to eugenics. 

If you’re not a White liberal woman, I’ll try to simplify. In liberal math, good genes + jeans = Nazi. 

I know, that wasn’t on our flashcards growing up. 

The next time you compliment a friend on her looks, resist the urge to mention good genes. Sally down the street will think you’re calling her a Nazi, when really you just want to know what face cream she’s using.

If the good genes/jeans word play were a clue on ‘Jeopardy!’ liberals would answer: ‘I’ll take Sydney Sweeney is a Nazi for $1,000, with a side of eugenics and white supremacy.’ 

Let’s ask the politically incorrect elephant in the room question — If you’re putting a large chunk of money behind an ad to sell jeans targeted at Gen Z, are you going to put someone with good genes or bad genes in front of the camera?

To quote ‘The Godfather’ — ‘It’s not personal, it’s strictly business.’ 

It also doesn’t surprise me that the perpetually outraged liberal and mostly women who have piled on over this campaign seem to ignore one more fact. According to Fox News, ‘100 percent of net proceeds from Sweeney’s ‘Sydney Jean’ – which is embroidered with a butterfly to represent domestic violence awareness – will be donated to Crisis Text Line, a nonprofit that provides free and confidential text-based mental health support and crisis intervention.’ That sure doesn’t sound like Nazis and eugenics to me.

This week, ‘Good Morning America’ (GMA) didn’t miss the chance to showcase just how unserious they are by jumping on the jean — or gene — meltdown.

Maybe GMA gambled on their viewers not having that first cup of coffee yet, so they wouldn’t notice their fuzzy Nazi math. Is it any wonder that Americans’ trust in the media is at its lowest in more than five decades, according to a Gallup poll?

Going back to the vault, circa 1980, Brooke Shields did a Calvin Klein jeans ad with the same American Eagle/Sydney Sweeney ad vibe. ‘Genes’ and ‘jeans’ were used interchangeably, as well as phrases like ‘natural selection’ and ‘survival of the fittest.’

GMA was around back then, but I don’t recall co-host Joan Lunden doing a Nazi propaganda segment calling out Brooke Shields or Calvin Klein. Then again, that was when history was still being taught in school. 

Ironically, the eugenics trigger is the greatest self-own for White liberal elites, whose holy grail is abortion on demand — anytime, any place, any reason. Legalized abortion has long been one of the most effective ways to reduce populations who are deemed less than.

The White liberal class is largely all in. 

In 2018, then-Pope Francis said, ‘I have heard that it’s fashionable, or at least usual, that when in the first months of pregnancy they do studies to see if the child is healthy or has something, the first offer is: let’s send it away, I say this with pain. In the last century, the whole world was scandalized about what the Nazis did to purify the race. Today we do the same, but now with white gloves.’

If you’re a woman who’s ever been pregnant, or if you’re the dad supporting the woman, you know doctors highly encourage having screenings for chromosomal disorders such as Down Syndrome and Trisomy 18. They don’t do this because they can cure these chromosomal disorders in utero. They push these tests so you can eliminate the ‘less than perfect problem.’ 

If only these same liberal women were as upset about the fate of unborn babies as they are about jeans. 

Oh, and in case you’re wondering, the fact that American Eagle has ‘American’ in its name makes it obvious they’re Nazis. Thankfully, self-appointed experts have the freedom to warn us all from a non-American platform like X.

This week is one of those times I’m grateful to be spending the end of the summer in the South, where sanity tends to rule the day. If I were home — where I’m outnumbered by the White liberal outrage class by about 50-1 — I’m quite confident that between their pique rage hours of Starbucks and Chardonnay, I’d be on the receiving end of the Sydney Sweeney faux fury. 

These people need a time-out — away from all cameras and keyboards … preferably with a history book.

Never underestimate the left’s ability to overplay their hand. They are screamers, but when they scream, conservatives are the ones who quietly act. Think Bud Light.

Personal finance guru Dave Ramsey likes to say the best predictor of future behavior is past behavior, so it’s no surprise that American Eagle’s stock is up more than 15% since the campaign’s rollout last week. 

I’ll be among those contributing to the rise of American Eagle’s stock when I take my girls back to school shopping. Spending my money somewhere that has the left spiraling over an imaginary offense — sign me up. 

Sydney Sweeney may have good genes, but the screamers may be the ad American Eagle never knew it needed. 

It’s back to school season, and the silent actors are shopping loudly.

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President Donald Trump hammered back at former Russian President Dmitry Medvedev’s warnings about war with the United States, telling the deputy chairman of Russia’s Security Council to ‘watch his words.’ 

‘I don’t care what India does with Russia. They can take their dead economies down together, for all I care,’ Trump wrote on TRUTH Social at midnight Thursday. ‘We have done very little business with India, their Tariffs are too high, among the highest in the World. Likewise, Russia and the USA do almost no business together. Let’s keep it that way, and tell Medvedev, the failed former President of Russia, who thinks he’s still President, to watch his words. He’s entering very dangerous territory!’

In response to Trump’s post, Medvedev referenced Russia’s ‘Dead Hand’ – the Cold War-era automated nuclear retaliation system developed by the Soviet Union. 

‘If a few words from a former Russian president provoke such a nervous reaction from the supposedly mighty President of the United States, then clearly Russia is in the right – and will continue on its chosen path,’ Medvedev wrote on Telegram. 

‘And as for all that talk about the ‘dead economies’ of India and Russia, or about ‘venturing into dangerous territory’ – well, maybe he should rewatch some of his favorite zombie movies,’ he added. ‘And also remember just how dangerous the supposedly mythical ‘Dead Hand’ system can be.’ 

In theory, the ‘Dead Hand,’ described by the West during the 1980s as a Russian doomsday device, is meant to guarantee a massive retaliatory nuclear strike even if Moscow’s leadership is destroyed or incapacitated. 

While in Scotland on Monday, Trump warned during public remarks that Russian President Vladimir Putin had 10 or 12 days to reach a ceasefire agreement with Ukraine, shortening a previous 50-day deadline he issued earlier this month. If Russia does not, Trump promised more ‘sanctions, tariffs, and maybe secondary tariffs’ against Moscow and the purchasers of Russian goods and energy. He lamented that repeated talks with Putin have resulted in little progress toward peace. 

‘Trump’s playing the ultimatum game with Russia: 50 days or 10,’ Medvedev complained in a post to X earlier this week. ‘He should remember 2 things: 1. Russia isn’t Israel or even Iran. 2. Each new ultimatum is a threat and a step towards war. Not between Russia and Ukraine, but with his own country. Don’t go down the Sleepy Joe road!’ 

Trump on Wednesday announced a 25% tariff on imports from India – one of the biggest consumers of Russian oil, next to China – starting on Aug. 1. The president described India as a ‘friend,’ but slammed the South Asian country’s ‘strenuous and obnoxious non-monetary’ trade barriers. Trump vowed other unspecified ‘penalties’ against India for buying most of its military equipment from Russia and Russian energy ‘at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE.’ 

During an unrelated press conference, Trump noted that India and Russia are founding members of BRICSoriginally formed as a counterweight to Western institutions. 

BRICS is ‘basically a group of countries that are anti-the United States and India is a member of that, if you can believe it. It’s an attack on the dollar. And we’re not going to let anybody attack the dollar,’ Trump said. ‘We have a tremendous deficit.’

In recent days, Medvedev has also shredded the framework of the trade deal Trump reached with European Commission President Ursula von der Leyen during his recent trip to Scotland. 

Trump has repeatedly communicated that trade deals with other countries would be contingent on foreign policy alignment with the United States. 

For example, after Canada announced it was backing Palestinian statehood amid Israel’s war against Hamas terrorists in Gaza, Trump wrote Thursday, ‘That will make it very hard for us to make a Trade Deal with them.’ 

Trump, meanwhile, on Thursday celebrated this reciprocal tariffs plan after telling reporters on Wednesday that they brought ‘billions’ of dollars into the U.S. economy. 

‘Tariffs are making America GREAT & RICH Again,’ Trump wrote on social media. ‘They were successfully used against the USA for decades and, coupled with really dumb, pathetic, and crooked politicians, we’re having a devastating impact on the future, and even the survival, of our country. Now the tide has completely turned, and America has successfully countered this onslaught of Tariffs used against it.’

‘ONE YEAR AGO, AMERICA WAS A DEAD COUNTRY, NOW IT IS THE ‘HOTTEST’ COUNTRY ANYWHERE IN THE WORLD. CONGRATULATIONS TO ALL!’ Trump added. 

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A longtime ally of former President Joe Biden is appearing before House investigators on Thursday, the eighth ex-White House aide to be summoned for Oversight Committee Chair James Comer’s probe.

Michael Donilon served as senior advisor to the president for the entirety of Biden’s four-year term.

He’s now expected to sit down with House Oversight Committee staff for a closed-door transcribed interview that could last several hours.

Comer, R-Ky., is investigating whether Biden’s top White House aides concealed signs of mental decline in the then-president, and if that meant executive actions were signed via autopen without his knowledge.

Donilon will likely be of key interest to investigators, considering his decades-long working relationship with the former president.

He first began working for Biden in 1981 as a strategist, pollster, and media advisor, according to a biography by the Harvard University Institute of Politics, where he was a Spring 2025 fellow.

Biden was serving as a senator from Delaware at the time.

He also served as chief strategist on Biden’s 2020 and 2024 campaigns before Biden dropped his re-election bid in July 2024.

The loyal former aide accused the Democratic Party of melting down earlier this year after top left-wing leaders forced Biden out of the 2024 presidential race over his disastrous debate against current President Donald Trump.

‘Lots of people have terrible debates. Usually the party doesn’t lose its mind, but that’s what happened here. It melted down,’ he said at a Harvard event in February.

It comes after another close former aide, ex-counselor to the president Steve Ricchetti, appeared before investigators for his own transcribed interview on Wednesday.

Like Ricchetti, Donilon is appearing on voluntary terms – the fifth ex-Biden aide to do so.

Three of the previous six Biden administration officials who appeared before the House Oversight Committee did so under subpoena. Ex-White House physician Kevin O’Connor, as well as former advisors Annie Tomasini and Anthony Bernal, all pleaded the Fifth Amendment during their compulsory sit-downs.

But the four voluntary transcribed interviews that have occurred so far have lasted more than five hours, as staff for both Democrats and Republicans take turns in rounds of questioning.

‘You were reportedly responsible for erecting a wall between the former president and senators ‘to shield Biden from bad information.’ Recently, during an event at Harvard University, you displayed your willingness to speak about the former president’s cognition but you reportedly ‘denounced claims that the president’s acuity and judgment declined,” Comer wrote in a June letter to Donilon asking him to appear.

‘The scope of your responsibilities—both official and otherwise—and personal interactions within the Oval Office cannot go without investigation. If White House staff carried out a strategy lasting months or even years to hide the chief executive’s condition—or to perform his duties—Congress may need to consider a legislative response.’

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Two U.S. judges in separate federal courts scrapped their rulings last week after lawyers alerted them to filings that contained inaccurate case details or seemingly ‘hallucinated’ quotes that misquoted cited cases — the latest in a string of errors that suggest the growing use of artificial intelligence in legal research and submissions.

In New Jersey, U.S. District Judge Julien Neals withdrew his denial of a motion to dismiss a securities fraud case after lawyers revealed the decision relied on filings with ‘pervasive and material inaccuracies.’

The filing pointed to ‘numerous instances’ of made-up quotes submitted by attorneys, as well as three separate instances when the outcome of lawsuits appeared to have been mistaken, prompting Neals to withdraw his decision.

In Mississippi, U.S. District Judge Henry Wingate replaced his original July 20 temporary restraining order that paused enforcement of a state law blocking diversity, equity and inclusion programs in public schools after lawyers notified the judge of serious errors submitted by the attorney. 

They informed the court that the decision ‘relie[d] upon the purported declaration testimony of four individuals whose declarations do not appear in the record for this case.’ 

Wingate subsequently issued a new ruling, though lawyers for the state have asked his original order to be placed back on the docket. 

‘All parties are entitled to a complete and accurate record of all papers filed and orders entered in this action, for the benefit of the Fifth Circuit’s appellate review,’ the state attorney general said in a filing. 

A person familiar with Wingate’s temporary order in Mississippi confirmed to Fox News Digital that the erroneous filing submitted to the court had used AI, adding that they had ‘never seen anything like this’ in court before.

Neither the judges’ office nor the lawyers in question immediately responded to Fox News Digital’s requests for comment on the retracted New Jersey order, first reported by Reuters. It was not immediately clear if AI was the reason for that erroneous court submission in that case.

However, the errors in both cases — which were quickly flagged by attorneys, and prompted the judges to take action to revise or redact their orders — come as the use of generative AI continues to skyrocket in almost every profession, especially among younger workers. 

In at least one of the cases, the errors bear similarities to AI-style inaccuracies, which include the use of ‘ghost’ or ‘hallucinated’ quotes being used in filings, citing incorrect or even nonexistent cases.

For bar-admitted attorneys, these erroneous court submissions are not taken lightly. Lawyers are responsible for the veracity of all information included in court filings, including if it includes AI-generated materials, according to guidance from the American Bar Association.

In May, a federal judge in California slapped law firms with $31,000 in sanctions for using AI in court filings, saying at the time that ‘no reasonably competent attorney should out-source research and writing to this technology — particularly without any attempt to verify the accuracy of that material.’

Last week, a federal judge in Alabama sanctioned three attorneys for submitting erroneous court filings that were later revealed to have been generated by ChatGPT.

Among other things, the filings in question included the use of the AI-generated quote ‘hallucinations,’ U.S. District Judge Anna Manasco said in her order, which also referred the lawyers in question to the state bar for further disciplinary proceedings.

‘Fabricating legal authority is serious misconduct that demands a serious sanction,’ she said in the filing.

New data from the Pew Research Center underscores the rise of AI tools among younger users. 

According to a June survey, roughly 34% of U.S. adults say they have used ChatGPT, the artificial intelligence chatbot — roughly double the percentage of users who said the same at the same point two years ago, in 2023. 

The share of employed adults who use ChatGPT for work has spiked by a whopping 20 percentage points since June 2023; and among adults under 30, adoption is even more widespread, with a 58% majority saying they have used the chatbot.

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