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Cibus Enters into Agreement with the Latin American Rice Hybrid Consortium to Provide Cibus’ Herbicide Tolerance Trait
Globenewswire· 2025-08-28 11:00
Core Viewpoint - Cibus has entered into a material transfer agreement with Centro Internacional de Agricultura Tropical (CIAT) to introduce its proprietary herbicide tolerance trait into elite rice germplasm for Latin America, aiming to enhance weed management solutions for rice growers in the region [1][2][3] Group 1: Agreement Details - The agreement allows Cibus to provide its HT3 clethodim herbicide tolerance trait to HIAAL's elite rice germplasm, which has shown strong performance in field trials in the United States [2][4] - This initiative is part of a broader effort to develop high-performance rice hybrids that can tackle challenges posed by herbicide-resistant weeds, including weedy rice [2][4] Group 2: Strategic Importance - Cibus views rice as a strategic focus with potential for near-term revenue generation, as the herbicide tolerance trait is critical for improving yield potential and addressing agronomic challenges [4] - The partnership with CIAT and FLAR leverages regional expertise and an extensive germplasm bank, supporting the development of climate-resilient, high-yielding rice varieties [4][6] Group 3: Organizational Goals - The mission of FLAR is to enhance rice productivity and sustainability in Latin America by providing growers access to superior genetics and technology [3] - Cibus aims to expand its market access in Latin America through this agreement, aligning with its strategy to deliver gene-edited traits that enhance productivity and sustainability for rice farmers [3][5]
TrustBIX Inc. Announces June 30, 2025 Third Quarter Financial Results
Newsfile· 2025-08-26 02:00
Core Insights - TrustBIX Inc. reported its third quarter financial results for the period ending June 30, 2025, highlighting a focus on managing operating costs while pursuing new business opportunities in Alberta's food security sector [2][3] - The company experienced a significant decrease in revenue from its ViewTrak team compared to the previous year, while the Alberta Food Security team secured new orders for indoor farming technology [3] - Initial deliveries for 2024 orders began in June 2025, with the first installation expected to be completed by September 2025 [3] Financial Performance Three Months Ended June 30, 2025 - Net loss and comprehensive loss amounted to $255,984, an increase of $246,211 from $9,773 in 2024 [5] - Cash provided by operating activities was $31,780, an improvement of $13,142 (70.5%) from $18,638 in 2024 [5] - Revenue totaled $324,545, down $223,224 (40.8%) from $547,769 in 2024 [5] - Operating expenses were $547,111, up $20,679 (3.9%) from $526,432 in 2024 [5] Nine Months Ended June 30, 2025 - Net loss and comprehensive loss reached $493,628, an increase of $21,920 from $471,708 in 2024 [5] - Cash used in operating activities was $24,236, an improvement of $50,551 (67.6%) from $74,787 in 2024 [5] - Revenue for the period was $1,021,778, down $163,951 (13.8%) from $1,185,729 in 2024 [5] - Operating expenses totaled $1,431,056, improved by $134,611 (8.6%) from $1,565,667 in 2024 [5]
TrustBIX Inc. Announces Extension to Private Placement
Newsfile· 2025-08-20 20:35
Core Points - TrustBIX Inc. has announced an extension for its non-brokered private placement, allowing it to complete the offering by September 2, 2025, with a maximum of 10,000,000 units priced at $0.04 each, aiming for gross proceeds of up to $400,000 [1][2]. Group 1: Private Placement Details - Each unit consists of one common share and one warrant, with the warrant allowing the purchase of an additional common share at $0.08 for two years [3]. - If the closing price of the common shares exceeds $0.12 for 20 consecutive trading days, TrustBIX can accelerate the expiry date of the warrants [3]. - The proceeds from the private placement will be utilized for general working capital, including inventory acquisition to support ongoing operations [4]. Group 2: Regulatory and Compliance Information - The common shares will be sold under prospectus exemptions available under National Instrument 45-106, targeting accredited investors, employees, executives, directors, consultants, and existing security holders [5]. - The securities issued will be subject to a statutory hold period of four months and one day following the closing of the private placement [4]. Group 3: Company Overview - TrustBIX is an agricultural technology company focused on providing Gate to Plate® solutions aimed at enhancing trust, reducing waste, and promoting sustainable practices within the agri-food sector [6].
Water Ways Announces Effective Date of Share Consolidation and Provides Corporate Update
GlobeNewswire News Room· 2025-08-15 21:00
Core Points - Water Ways Technologies Inc. has received final acceptance from the TSX Venture Exchange for the consolidation of its outstanding common shares at a ratio of one post-consolidation share for every ten pre-consolidation shares [1][2] - The total number of issued and outstanding common shares will decrease from approximately 148,785,346 to about 14,878,537 following the consolidation, effective August 21, 2025 [2] - The company will continue to trade under the symbol "WWT" on the TSXV, with new CUSIP and ISIN numbers assigned [3] Shareholder Information - Shareholders of record as of the effective date will receive a letter of transmittal from Computershare Trust Company with instructions for exchanging their existing certificates for post-consolidation shares [4] - Beneficial shareholders holding shares through intermediaries should contact their brokers or financial institutions for information on the consolidation process [5] Strategic Update - Water Ways is undergoing a strategic shift towards the Canadian market, having filed an application to cease operations of its Israeli subsidiary, Irri-Al-Tal Ltd., which is not expected to impact the company's revenues significantly [6] - The liquidation process for Irri-Al-Tal Ltd. is anticipated to take approximately three years, longer than the initially expected five to twelve months due to delays in collecting amounts owed by international customers [7] Company Overview - Water Ways Technologies Inc. is a Canadian provider of Israeli-based agriculture technology, focusing on water irrigation solutions for agricultural producers in Canada and the USA [8] - The company is capitalizing on opportunities in micro and smart irrigation, with projects including vineyards, blueberries, and fresh produce cooling rooms [8]
Cibus Reports Second Quarter Financial Results and Provides Year-to-Date Business Update for 2025
Globenewswire· 2025-08-14 20:05
Core Insights - Cibus is focusing on the commercialization of Rice herbicide tolerance traits HT1 and HT3, with initial launches planned in Latin America in 2027 and the U.S. in 2028, potentially generating over $200 million in annual royalties [1][2][3] - The company aims to reduce annual cash usage to approximately $30 million by 2026 through operational streamlining [1][2] - Cibus raised $27.5 million in gross proceeds from a public offering, extending its cash runway as it approaches initial revenue generation [1][10] Financial Performance - For the quarter ended June 30, 2025, Cibus reported a net loss of $26.6 million, compared to a net loss of $28.5 million in the same period last year [20][27] - Revenue for the quarter was $933,000, an increase from $838,000 year-over-year [27] - Research and development expenses decreased to $12.2 million from $13.0 million, while selling, general, and administrative expenses fell to $6.6 million from $9.3 million, primarily due to cost reduction initiatives [13][27] Operational Updates - Cibus has signed a collaboration agreement with Colombian Rice producer Semillano and completed the delivery of three germplasm lines with the Cibus HT3 trait to an existing customer [1][3] - The company is on track for nominal revenues from its sustainable ingredients program in 2025, with targeted commercial expansion planned for 2026 [1][5][7] - The global regulatory environment for gene editing technologies remains supportive, with positive developments in various markets including the EU, Ecuador, India, and the U.S. [1][4][7] Strategic Focus - Cibus is concentrating on its core priorities: advancing Rice herbicide tolerance traits and partner-funded sustainable ingredients programs [2][3] - The company is expanding its trait pipeline and exploring additional opportunities for partner-funded programs [5][6] - Cibus is committed to operational efficiencies and building a foundation for sustainable growth to generate long-term shareholder value [2][3]
金融活水精准滴灌 激活乡村新动能
Ren Min Wang· 2025-08-06 09:49
Core Viewpoint - The Bank of China Ningbo Branch is actively supporting rural revitalization by providing targeted financial resources to key areas in agriculture and rural development, thereby injecting new momentum into the local economy [1][2]. Group 1: Financial Support for Agricultural Innovation - The Bank of China Ningbo Branch has provided a loan of 10 million yuan to a high-tech agricultural company focused on modern agricultural technology, enabling the company to enhance its market expansion and technological research [1]. - This financial backing is aimed at overcoming challenges such as high costs and financing difficulties, thus promoting efficiency in local agriculture and increasing farmers' income [1]. Group 2: Innovative Financial Products for Small Farmers - The "Merchant Convenience Loan" service was introduced to address the financing challenges faced by small agricultural entities, characterized by light assets and lack of collateral [1]. - A family farm in Xiangshan benefited from this service, receiving a credit line of 200,000 yuan without traditional collateral, which helped boost the online sales of local citrus products [2]. Group 3: Commitment to Rural Revitalization - Since 2025, the Bank of China Ningbo Branch has disbursed over 20 billion yuan in loans to more than 5,700 agricultural entities, demonstrating its commitment to rural revitalization [2]. - The branch plans to continue optimizing financial supply and providing precise financial support to enhance rural development [2].
中行宁波市分行:精准滴灌农业创活力 金融赋能农民创增收
Core Viewpoint - The Bank of China Ningbo Branch is actively supporting rural revitalization by providing targeted financial resources to key areas in agriculture and rural development, thereby injecting new momentum into local economies [1][2]. Group 1: Financial Support for Agricultural Innovation - The Bank of China Ningbo Branch has provided a loan of 10 million yuan to a high-tech agricultural company focused on modern agricultural technology, which has helped the company expand its production capacity and overcome financing challenges [1]. - The company specializes in the production of high-value products such as peach brandy and has been recognized as a provincial-level technology-based small and medium-sized enterprise [1]. Group 2: Innovative Financial Products for Small Farmers - The "Merchant Convenience Loan" service was introduced to address the financing difficulties faced by small agricultural entities, offering quick, unsecured loans to enhance their operational capabilities [1][2]. - A family farm in Xiangshan benefited from this service, receiving 200,000 yuan in pure credit support, which allowed it to expand its online sales of local citrus products, significantly improving the farm's and local farmers' economic benefits [2]. Group 3: Impact and Future Plans - The Bank of China Ningbo Branch has disbursed over 20 billion yuan in loans to more than 5,700 agricultural entities this year, demonstrating its commitment to rural financial services [2]. - The bank plans to continue optimizing financial supply to ensure effective support for rural revitalization efforts [2].
Cibus to Report Second Quarter 2025 Financial Results on August 14, 2025 After the Market Close and Host Conference Call
Globenewswire· 2025-08-05 11:00
Core Insights - Cibus, Inc. will report its second quarter 2025 financial results on August 14, 2025, with a conference call scheduled for 4:30 p.m. ET to discuss these results and other updates [1][2]. Company Overview - Cibus is a leading agricultural technology company focused on developing and licensing plant traits to seed companies, utilizing proprietary high-throughput gene editing technology [4]. - The company addresses critical productivity and sustainability challenges for farmers, particularly diseases and pests, which the United Nations estimates cost the global economy approximately $300 billion annually [4]. - Cibus is not a seed company but a technology company that licenses its innovations to seed companies in exchange for royalties on seed sales [4].
TrustBIX Inc. Announces Changes to Board of Directors
Newsfile· 2025-07-31 13:15
Core Points - TrustBIX Inc. has announced changes to its Board of Directors, appointing Nathaniel M. Mison as Chair of the Board and Lap Shing (Andrew) Kao as Chair of the Audit Committee [1][4]. - Nathaniel M. Mison has been an independent director since April 14, 2023, and succeeds Edward (Ted) Power, who served as Chair since September 1, 2019 [2][4]. - Mison is a Founding Partner of Diplomat Consulting and has a background in regulatory frameworks and public affairs, holding a B.A. in Political Science and Philosophy from the University of Alberta [3]. - Mison expressed commitment to supporting TrustBIX's mission in sustainable agriculture and food security [4]. - Lap Shing (Andrew) Kao, the new Chair of the Audit Committee, has extensive experience in auditing and accounting, and previously served as Chair of the Audit Committee from May 20, 2022, to April 14, 2023 [4][5]. - Edward (Ted) Power will remain a director of TrustBIX and is recognized for his significant contributions to the company [6]. - TrustBIX is an agricultural technology company focused on providing Gate to Plate® solutions aimed at enhancing trust and sustainability in the agri-food sector [7].
Cibus Announces Steps to Implement More Streamlined Business Focus on its Nearest Term Revenue Opportunities
Globenewswire· 2025-07-23 20:05
Core Insights - Cibus, Inc. is implementing a reduction in force (RIF) as part of its strategy to streamline operations and focus on commercial opportunities in rice and biofragrance products, aiming to reduce annual net cash usage to approximately $30 million by 2026 [1][2][3] Group 1: Business Strategy - The RIF is expected to incur one-time charges of approximately $0.5 million in Q3 2025, aligning with the company's focus on optimizing its Trait Machine gene editing processes [1][2] - Cibus is prioritizing the commercial advancement of its HT1 and HT3 weed management traits in rice, while also advancing sustainable ingredients and bio-based fermentation fragrance products [2][3] Group 2: Market Position and Opportunities - Cibus is positioned to pursue partner funding to support its advanced productivity trait portfolio, which includes traits for disease resistance in canola, winter oilseed rape (WOSR), and soybean [1][3] - The company emphasizes its role as a technology provider rather than a seed company, utilizing proprietary gene editing technology to develop traits more efficiently than conventional breeding methods [4]