JUST IN: Jack Dorsey's Square launches new Bitcoin payment solution with no fees. https://t.co/OV5tDOzQLV ...

Block is now allowing Square merchants to accept Bitcoin payments without any processing fee for one year https://t.co/d4Nlv2PnnL ...

BOSTON, Sept. 30, 2025 (GLOBE NEWSWIRE) -- Block & Leviton is investigating Slide Insurance Holdings, Inc. (Nasdaq: SLDE) for potential securities law violations. Investors who have lost money in their Slide Insurance investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/slde. What is this all about? Shares of Slide Insurance have fallen over 25% since the company's June IPO. On September 30, a Manatee Research repo ...

About this content About Sean Mason Sean Mason is a Senior Journalist at Proactive, having researched and written about Canadian and US equities for 20 years. Sean graduated from the University of Toronto with a BA in history and economics and has also passed the Canadian Securities Course. He previously worked at Investors Digest of Canada, Stockhouse, and SmallCapPower.com. Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and action ...

Core Viewpoint - Cathedra Bitcoin Inc. has appointed Joel Block as Chief Executive Officer, transitioning from a consulting agreement to a formal employment agreement, which includes the grant of restricted share units (RSUs) [1][2]. Company Overview - Cathedra Bitcoin Inc. develops and operates digital infrastructure assets across North America, hosting bitcoin mining clients in three data centers with a total capacity of 30 megawatts located in Tennessee and Kentucky. The company also recently sold a 60-megawatt data center in North Dakota, where it held a minority interest [3]. - The company operates a fleet of proprietary bitcoin mining machines, producing approximately 400 PH/s of hash rate [3]. Employment Agreement Details - Under the new employment agreement, Joel Block was granted 43,427,522 RSUs, which are redeemable for subordinate voting shares of the company. These RSUs will vest in equal portions on the first, second, and third anniversaries of the grant date [2]. - The RSUs are subject to applicable securities laws and require approval from the TSX Venture Exchange [2].

Core Insights - Petrobras is returning the ultra-deepwater block ES-M-596 in the Espírito Santo basin to the National Agency of Petroleum, Natural Gas and Biofuels (ANP), marking a significant shift in its exploration strategy [1][12] - The decision to relinquish the block is driven by ongoing challenges and suboptimal results from exploratory efforts [2][12] - Petrobras continues to operate three other blocks in the Espírito Santo basin, maintaining a focus on maximizing resource potential in areas with stronger prospects [7][12] Exploration History and Challenges - The ES-M-596 block was initially promising due to its location in a hydrocarbon-rich area, but drilling efforts revealed geomechanical difficulties and non-commercially viable results [3][4][6] - The consortium, initially including Equinor ASA, faced disappointing outcomes, leading to a reassessment of the block's future [4][5] - Equinor opted not to extend the exploration period, resulting in its exit from the consortium and Petrobras assuming full control of the block [5][6] Strategic Focus and Future Plans - Despite relinquishing ES-M-596, Petrobras is actively pursuing exploration in three other blocks (ES-M-669, ES-M-671, and ES-M-743) within the Espírito Santo basin, each with 100% ownership [7][11] - The ES-M-669 block is currently under a Discovery Evaluation Plan to assess the commercial viability of discoveries [8][12] - The return of ES-M-596 aligns with Petrobras' broader portfolio optimization strategy, allowing the company to focus on assets with confirmed discoveries and ongoing appraisal activities [13][15] Implications for the Industry - Petrobras remains a dominant player in Brazil's offshore sector, adapting its exploration and production portfolio to meet energy demands and market dynamics [14][15] - The company's selective management of its portfolio and adherence to stringent exploration criteria position it to capitalize on future discoveries while managing associated risks [15][16] - The return of ES-M-596 underscores Petrobras' commitment to responsible asset management and strategic flexibility in a challenging market environment [12][15][16]

Core Viewpoint - Block, formerly known as Square, has seen its shares decline over 70% from their peak, despite being a significant player in the financial services and payments industries [1][2]. Company Overview - Block is recognized for its user-friendly financial solutions, particularly through its Square segment for small merchants and Cash App for individual banking needs [4]. - The company has a strong customer base, with over 4 million merchants using Square and 57 million monthly active users on Cash App [5]. Growth Strategy - The growth strategy for both Square and Cash App focuses on acquiring new customers and encouraging existing customers to utilize more products and services, which increases revenue [6]. - Block's total addressable market is substantial, with $130 billion for Square and $75 billion for Cash App, while the company generated $9.4 billion in gross profit over the past year, indicating significant growth potential [7]. Market Sensitivity - The company’s performance is sensitive to macroeconomic conditions, as its target customers are more vulnerable to economic downturns [8]. Bitcoin Involvement - Block is increasingly focusing on Bitcoin, with the cryptocurrency contributing $81 million to gross profit in Q2 2024. The company has introduced features for Bitcoin transactions and holds 8,692 units of Bitcoin on its balance sheet [9][10][11]. - The CEO has emphasized the importance of Bitcoin, suggesting that its integration into Block's offerings will likely increase in the coming years [11]. Valuation - The stock is currently undervalued, trading at a forward price-to-earnings ratio of 20, making it an attractive option for investors looking for exposure to payments and Bitcoin [12].

Core Insights - The number of companies adding Bitcoin to their corporate treasuries has significantly increased this year, with Block ranking 13th in BitcoinTreasuries' list of public companies holding the cryptocurrency [1] - Block's approach to Bitcoin differs from others as it aligns with its business operations and does not rely on raising funds to purchase Bitcoin, instead allocating 10% of its earnings from Bitcoin products for Bitcoin purchases [2] - Block operates as a diversified fintech company, with Bitcoin being just one aspect of its broader range of payment solutions [2] Company Overview - Block was originally launched in 2009 as a payment solutions software company named Square, later rebranding to reflect its expanded focus [4] - A significant component of Block's offerings is Cash App, which provides various financial services including payments, money transfers, and Bitcoin investments [5] - Block also features a Buy Now Pay Later platform called Afterpay, along with Bitcoin mining and wallet products [5] Bitcoin Integration - Bitcoin remains a central focus for Block, with CEO Jack Dorsey being a proponent of Bitcoin as a potential native currency for the internet, integrating it into various company operations [6] - Recent developments include the rollout of payment solutions for merchants that facilitate consumer payments using Bitcoin [6] Financial Performance - Despite Bitcoin's year-to-date gain of approximately 23% as of September 16, Block's shares have declined nearly 12%, attributed to disappointing earnings results [7] - Investors are urged to consider Block's Bitcoin focus in their evaluations, while also taking into account the competitive landscape and potential growth in stablecoins [8]

Core Viewpoint - ReconAfrica has announced an increase in its underwritten offering to C$18 million due to strong investor demand, aimed at advancing operational activities on its Ngulu Block offshore Gabon and providing a drilling update on the Kavango West 1X exploration well [1][2]. Offering Details - The offering consists of 30,000,000 Units priced at C$0.60 per Unit, resulting in gross proceeds of C$18 million [1]. - Each Unit includes one common share and one warrant, with the warrant allowing the purchase of one common share at C$0.72 for up to 24 months post-offering [3]. - The net proceeds will fund appraisal and exploration expenses related to the Ngulu Production Sharing Contract (PSC), including geological studies and the advancement of the initial development well at the Loba Complex [4]. Drilling Updates - The Kavango West 1X exploration well has reached a depth of approximately 2,300 meters, with plans to drill through an additional 1,500 meters of the Otavi reservoir zone, targeting a total depth of around 3,800 meters [5]. - Well results are expected in Q4 2025 [5]. Ngulu Block Overview - The Ngulu PSC covers 1,214 km² in shallow waters offshore Gabon, with ReconAfrica holding a 55% working interest and acting as the operator [7][17]. - The block has near-term oil production potential, particularly from the Loba field, which has a production potential of approximately 20,000 barrels per day [14][13]. - The Loba field was discovered in 1976 and has a gross oil column of 140 meters [14]. Strategic Rationale - The transaction positions ReconAfrica as an offshore West Africa operator, diversifying its portfolio with low-risk appraisal, development, and exploration assets [10][13]. - The company aims to leverage existing infrastructure within 10 kilometers of the Loba field to reduce development costs and enhance cash flow [10]. - The PSC agreement allows for a minimal work commitment over the initial four-year period, providing an attractive entry into a producing hydrocarbon province [9][10]. Exploration Potential - The Ngulu block contains 28 identified prospects, with sizes comparable to existing producing fields ranging from 38 million to 250 million barrels [16]. - Advanced seismic reprocessing will be initiated to identify additional prospects and develop a drilling inventory of lower-risk exploration targets [16][11]. Industry Context - Gabon is a significant oil producer in Africa, with current production exceeding 220,000 barrels per day and proven reserves of approximately 2 billion barrels [20]. - The government of Gabon is committed to creating a favorable regulatory environment to attract investment in the oil and gas sector [19].

Core Viewpoint - ReconAfrica has announced a C$10 million overnight marketed offering to advance operational activities on its Ngulu Block offshore Gabon and provided an update on the Kavango West 1X exploration well drilling progress [1][5]. Offering Details - The offering consists of units priced at C$0.60 each, aiming for total gross proceeds of C$10 million [1]. - Management and directors are expected to invest approximately C$3 million in the offering [2]. - Each unit includes one common share and one warrant, with the warrant allowing the purchase of a common share at C$0.72 for up to 24 months post-offering [3]. Use of Proceeds - Net proceeds will be allocated to appraisal and exploration activities related to the Ngulu Production Sharing Contract (PSC), including geological studies, seismic data reprocessing, and initial development well advancement at the Loba Complex [4]. Drilling Update - The Kavango West 1X well is currently at a depth of approximately 2,300 meters, with plans to drill an additional 1,500 meters through the Otavi reservoir before reaching a total depth of around 3,800 meters [5][8]. Ngulu Block Overview - ReconAfrica has entered a PSC for the Ngulu Block, holding a 55% working interest, with a joint venture involving Record Resources Inc., Gabon Oil Company, and the Republic of Gabon [9][22]. - The PSC covers 1,214 km² in shallow waters offshore Gabon, with near-term oil production potential from the Loba field, which has a historical gross pay of 140 meters [13][18]. Strategic Rationale - The acquisition of the Ngulu Block enhances ReconAfrica's portfolio with low-risk appraisal and development opportunities, positioning the company as an offshore West Africa operator [12][15]. - The Loba field has potential production of approximately 20,000 barrels per day, aligning with nearby producing fields [18]. Exploration Potential - The Ngulu Block contains 28 mapped prospects, with sizes comparable to existing producing fields ranging from 38 million to 250 million barrels [19]. - Advanced seismic reprocessing is planned to identify additional prospects and enhance the drilling inventory [19][16].