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New Publication Demonstrates TLX250-Px (Zircaix®) Potential in Diagnosing Kidney Cancers Beyond ccRCC

MELBOURNE, Australia and INDIANAPOLIS, Ind., May 5, 2026 /PRNewswire/ — Telix Pharmaceuticals Limited (ASX: TLX, NASDAQ: TLX, “Telix”) today announces the publication of a new independent analysis of Phase 3 ZIRCON trial data in European Urology[1], demonstrating that TLX250‑Px (Zircaix®[2], 89Zr-girentuximab) PET/CT[3] imaging may be highly predictive of renal malignancy across all subtypes, not limited to clear cell renal cell carcinoma (ccRCC).

Recognizing that carbonic anhydrase IX (CAIX) expression is also observed in other renal cancer subtypes[4], this subsequent analysis conducted by international investigators who participated in ZIRCON Phase 3 trial[5], evaluated centrally reviewed imaging and pathology data to explore whether tracer uptake in renal masses correlated with malignancy beyond ccRCC.

The analysis demonstrated that positive PET findings were highly predictive of malignancy overall, including in non-clear cell renal cell carcinoma (nccRCC), with a reported positive predictive value (PPV) of 98% (95% CI, 96–99), sensitivity of 82% (95% CI, 82–90), and specificity of 87% (95% CI, 81–93). These exploratory scientific findings suggest TLX250-Px has applications beyond the detection of ccRCC in primary renal masses and may have implications to management of nccRCC.

Aboubacar Kaba, MD, urologist at the University of California, Los Angeles and corresponding author, commented: “This analysis shows that when TLX250-Px PET/CT is positive, it is highly predictive of renal malignancy, including beyond ccRCC. Thus, the utility of this test may be important in distinguishing more hypoxic, and therefore, aggressive disease from indolent tumors with clear treatment implications. This may provide an additional tool to aid in risk stratifying or guiding patient and clinician decisions in the treatment of renal masses.”

Dr. David N. Cade, Group Chief Medical Officer at Telix, added: “Publication of these data in European Urology reflects the scientific strength of the ZIRCON trial and the robustness of its central imaging and pathology review. While ZIRCON was designed to address ccRCC, this analysis supports continued evaluation of TLX250-Px PET imaging across a broader spectrum of renal malignancies, with potential application in the management of patients with non-clear cell RCC. Furthermore, essentially all false-positives for ccRCC in the ZIRCON study have now been shown to be other malignant kidney cancer subtypes, reducing the risk of overtreatment and further supporting clinical adoption.”

The full paper is available at: https://www.europeanurology.com/article/S0302-2838(26)02037-3/fulltext.

These findings are based on exploratory analyses and were not the basis of Telix’s Biologics License Application (BLA) submission for TLX250-Px, which focuses exclusively on detection of ccRCC in primary renal masses.

About TLX250-Px

TLX250-Px is a PET imaging candidate under development for the diagnosis and characterization of ccRCC, and included in leading international guidelines for renal imaging[6]. It works by specifically binding to carbonic anhydrase IX (CAIX), a validated target protein expressed on >95% of ccRCC cells[7], to produce images with high tumor-to-background ratio and high intra- and inter-reader consistency.

Telix’s pivotal Phase 3 ZIRCON trial evaluating TLX250-Px in 300 patients, of whom 284 were evaluable, met all primary and secondary endpoints, including showing 86% sensitivity and 87% specificity and a 93% positive predictive value (PPV) for ccRCC across three independent radiology readers[8]. Telix believes this demonstrated the ability of TLX250-Px to reliably detect the clear cell phenotype and provide an accurate, non-invasive method for diagnosing and characterizing ccRCC.

ZIRCON-X, a noninterventional, prospective, post hoc study using imaging data from ZIRCON, found that almost half of all patients (48.6%) would have undergone a change in clinical management if imaged with TLX250-Px, compared with baseline standard-of-care (SOC) imaging, and that more than 20% could potentially have avoided an invasive biopsy[9].

For more on TLX250-Px and Telix’s theranostic kidney cancer program, click here.

TLX250-Px has not received a marketing authorization in any jurisdiction.

[1] Kaba et al. Eur Urol. 2026: https://doi.org/10.1016/j.eururo.2026.03.003

[2] Brand name subject to final regulatory approval.

[3] Positron emission tomography/computed tomography.

[4] Baniak et al. Histopathology. 2020; Büscheck et al. Urol Oncol. 2018. Klatte et al. ClinCancer Res Off J Am AssocCancerRes. 2009.

[5] Zirconium in Renal Cancer Oncology, ClinicalTrials.gov ID: NCT03849118.

[6] SNMMI/EANM/ACNM Procedure Standard/Procedure Guideline on the Use of Molecular Imaging for Renal Mass Characterization (October 2025), available at: https://jnm.snmjournals.org/content/early/2025/10/09/jnumed.125.271332.abstract

[7] Stillebroer et al. Eur Urol. 2010.

[8] Telix ASX disclosures November 7, 2022. Shuch et al. Lancet Oncology. 2024.

 

About Telix Pharmaceuticals Limited

Telix is a global biopharmaceutical company focused on the development and commercialization of radiopharmaceuticals with the goal of addressing significant unmet medical need in oncology and rare diseases. Telix is headquartered in Melbourne (Australia) with international operations in the United States, United Kingdom, Brazil, Canada, Europe (Belgium and Switzerland) and Japan. Telix is listed on the Australian Securities Exchange (ASX: TLX) and the Nasdaq Global Select Market (NASDAQ: TLX).

Visit www.telixpharma.com for further information about Telix, including details of the latest share price, ASX and U.S. Securities and Exchange Commission (SEC) filings, investor and analyst presentations, news releases, event details and other publications that may be of interest. You can also follow Telix on LinkedIn, X and Facebook.

Telix Investor Relations (Global)

Ms. Kyahn Williamson

SVP Investor Relations and Corporate Communications

kyahn.williamson@telixpharma.com

Telix Investor Relations (Australia)

Ms. Charlene Jaw

Associate Director Investor Relations

charlene.jaw@telixpharma.com

Telix Investor Relations (U.S.)  

Ms. Annie Kasparian  

Director Investor Relations and Corporate Communications  

annie.kasparian@telixpharma.com 

 

Media Contact

Eliza Schleifstein
917.763.8106 (Mobile)
Eliza@schleifsteinpr.com

Legal Notices

Cautionary Statement Regarding Forward-Looking Statements.  

You should read this announcement together with our risk factors, as disclosed in our most recently filed reports with the Australian Securities Exchange (ASX), U.S. Securities and Exchange Commission (SEC), including our Annual Report on Form 20-F filed with the SEC, or on our website.

The information contained in this announcement is not intended to be an offer for subscription, invitation or recommendation with respect to securities of Telix Pharmaceuticals Limited (Telix) in any jurisdiction, including the United States. The information and opinions contained in this announcement are subject to change without notification.  To the maximum extent permitted by law, Telix disclaims any obligation or undertaking to update or revise any information or opinions contained in this announcement, including any forward-looking statements (as referred to below), whether as a result of new information, future developments, a change in expectations or assumptions, or otherwise. No representation or warranty, express or implied, is made in relation to the accuracy or completeness of the information contained or opinions expressed in the course of this announcement.

This announcement may contain forward-looking statements, including within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that relate to anticipated future events, financial performance, plans, strategies or business developments. Forward-looking statements can generally be identified by the use of words such as “may”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “outlook”, “forecast” and “guidance”, or the negative of these words or other similar terms or expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements are based on Telix’s good-faith assumptions as to the financial, market, regulatory and other risks and considerations that exist and affect Telix’s business and operations in the future and there can be no assurance that any of the assumptions will prove to be correct. In the context of Telix’s business, forward-looking statements may include, but are not limited to, statements about: the initiation, timing, progress, completion and results of Telix’s preclinical and clinical trials, and Telix’s research and development programs; Telix’s ability to advance product candidates into, enroll and successfully complete, clinical studies, including multi-national clinical trials; the timing or likelihood of regulatory filings and approvals for Telix’s product candidates, including TLX250-Px, manufacturing activities and product marketing activities; Telix’s sales, marketing and distribution and manufacturing capabilities and strategies; the commercialization of Telix’s product candidates, if or when they have been approved; Telix’s ability to obtain an adequate supply of raw materials at reasonable costs for its products and product candidates; estimates of Telix’s expenses, future revenues and capital requirements; Telix’s financial performance; developments relating to Telix’s competitors and industry; the anticipated impact of U.S. and foreign tariffs and other macroeconomic conditions on Telix’s business, including as a result of war or other geopolitical conflicts; and the pricing and reimbursement of Telix’s product candidates, if and after they have been approved. Telix’s actual results, performance or achievements may be materially different from those which may be expressed or implied by such statements, and the differences may be adverse. Accordingly, you should not place undue reliance on these forward-looking statements.

Trademarks and Trade Names. All trademarks and trade names referenced in this press release are the property of Telix Pharmaceuticals Limited (Telix) or, where applicable, the property of their respective owners. For convenience, trademarks and trade names may appear without the ® or ™ symbols. Such omissions are not intended to indicate any waiver of rights by Telix or the respective owners. Trademark registration status may vary from country to country. Telix does not intend the use or display of any third-party trademarks or trade names to imply any affiliation with, endorsement by, or sponsorship from those third parties.

©2026 Telix Pharmaceuticals Limited. All rights reserved.

PMET Advances Flagship Shaakichiuwaanaan Project Towards Next Development Tier

MONTREAL, May 5, 2026 /PRNewswire/ — May 5, 2026 – Sydney, Australia

HIGHLIGHTS

  • Environmental and Social Impact Assessment (ESIA) for the Shaakichiuwaanaan Project submitted to the Federal and Provincial authorities on March 31, 2026:
    • Federal ESIA submission deemed complete by the IAAC with the first statutory public consultation period now underway, closing May 28, 2026.
    • Provincial ESIA submission progressing under the COMEV/COMEX review process.
  • Updated CV5 lithium-tantalum Feasibility Study and parallel lithium-caesium-tantalum PEA/Scoping Study on the broader project (CV5 + CV13) on track, targeting Q4 2026 completion.
  • CV5 bulk sample application under review (~50,000 tonnes), with feedback expected from COMEX in Q2-2026:
    • Project engineering continues to advance towards shovel-ready status by year-end.
  • Hydro Quebec power application submitted, with the assessment in progress:
    • Hydro-Quebec’s La Grande 4 (LG4) Tilley substation is only ≈45 km from the Project, being both ideally located and a low-cost potential source of renewable power to the Shaakichiuwaanaan Project.

Ken Brinsden, President and Managing Director, comments: “In just roughly four years since the first drill hole at CV5 in November 2021, we’ve delivered the lithium-only Feasibility Study and submitted the final ESIA documentation for mine authorization – a testament to the quality of the asset and the team behind it. But it does not stop there, as we continue to progress the Project’s critical path through to FID.

“Shaakichiuwaanaan has the scale, grade and strategic positioning to become one of the world’s leading critical minerals projects, right here in Quebec, supporting North American and global supply chains. As geopolitical tension grows across energy and the critical minerals sphere, this represents a massive opportunity for Quebec and Canada to be front-and-centre in the future of lithium, caesium, and tantalum supply to global markets,” added Mr. Brinsden.

PMET RESOURCES INC. (THE “COMPANY” OR “PMET”) (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to provide an update on the key permitting, studies and infrastructure workstreams at the Company’s wholly-owned Shaakichiuwaanaan Property (the “Property” or “Project”), located in the Eeyou Istchee James Bay region of Quebec. Significant progress is being made on the key components of the Project’s critical development pathway, including mine authorization, optimized engineering studies, a bulk sample application and key Project delivery elements such as the application for power allocation on the Hydro Quebec network.

The Shaakichiuwaanaan Property hosts one of the largest pegmatite Mineral Resources1 (Li, Cs, Ta) and Mineral Reserves2 (Li) in the world, situated approximately 13 km south of the regional and all‑weather Trans-Taiga Road and powerline infrastructure corridor, and is accessible year-round by road (see Figure 1 below). The Company recently announced a robust lithium only Feasibility Study for the CV5 Pegmatite, which outlined the Project as a potential North American critical mineral powerhouse (see news release dated October 20, 2025).

ESIA DOCUMENTATION REVIEW

The Company submitted the Shaakichiuwaanaan Project Environmental and Social Impact Assessment (ESIA) documentation on March 31, 2026. The ESIA submissions are a critical regulatory requirement under Section 22 of the James Bay and Northern Quebec Agreement (JBNQA), and the Impact Assessment Agency of Canada (IAAC) processes.

These submissions, alongside the positive CV5 lithium-only Feasibility Study delivered in late 2025, form the dual pillars supporting the final mine authorization process. Together, these documents detail the technical viability, environmental safeguards, and social integration of the proposed hybrid open-pit and underground mine proposal.

Federal Process – IAAC

The Federal government, via IAAC, has now deemed the Shaakichiuwaanaan Project ESIA ‘complete’ in line with its previously issued ESIA guidelines. This marks another significant permitting milestone for the Company.

IAAC has now initiated formal public consultations by inviting comments from communities, regulators and project stakeholders, which are expected to be completed by May 28, 2026. Further updates on the federal IAAC review process on the Shaakichiuwaanaan Mining Project are available on the Canadian Impact Assessment Registry portal at: https://iaac-aeic.gc.ca.

Provincial Process – COMEX/COMEV

PMET Resources’ ESIA submission is now under review, in accordance with the COMEX/COMEV process, with further updates expected shortly. The Company looks forward to their comments as it continues to advance and de-risk the Project.

____________________________________

1 The Consolidated MRE (CV5 + CV13 pegmatites), which includes the Rigel and Vega caesium zones, totals 108.0 Mt at 1.40% Li2O, 0.11% Cs2O, 166 ppm Ta2O5, and 66 ppm Ga, Indicated, and 33.4 Mt at 1.33% Li2O, 0.21% Cs2O, 155 ppm Ta2O5, and 65 ppm Ga, Inferred, and is reported at a cut-off grade of 0.40% Li2O (open-pit), 0.60% Li2O (underground CV5), and 0.70% Li2O (underground CV13). A grade constraint of 0.50% Cs2O was used to model the Rigel and Vega caesium zones. The Effective Date is June 20, 2025 (through drill hole CV24-787). Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. Mineral Resources are inclusive of Mineral Reserves.

2 Probable Mineral Reserve of 84.3 Mt at 1.26% Li2O at the CV5 Pegmatite with a cut-off grade is 0.40% Li2O (open-pit) and 0.70% Li2O (underground). Underground development and open-pit marginal tonnage containing material above 0.37% Li2O are also included in the statement. The Effective Date is September 11, 2025. See Feasibility Study news release dated October 20, 2025.

The Company remains committed to maintaining a transparent and timely approval process, working closely with all levels of government, which includes the Cree Nation, to bring this unique asset into production over the coming years.

UPDATED FEASIBILITY STUDY (CV5) / PEA-SCOPING STUDY (CV5+CV13)

The geology team is currently interpreting and working with the previously reported drill-hole data to advance the host rock and pegmatite geological models for the entire Project. The work is focused on the CV5 and CV13 pegmatites – including the Vega, Rigel, and Helios caesium zones – ahead of updates to their respective block models and Mineral Resource Estimates.

These revised models will underpin an updated Feasibility Study for the CV5 Pegmatite with the addition of tantalum as a co-product, as well as a Preliminary Economic Assessment (PEA) for the broader Project inclusive of lithium, caesium, and tantalum. The increased resource granularity will also contribute meaningfully to the design and detailed engineering effort currently underway for the underground infrastructure of the Bulk Sample Project.

BOTH THE UPDATED LITHIUM-TANTALUM FEASIBILITY STUDY ON CV5 AND PARALLEL LITHIUM-CAESIUM-TANTALUM PEA/SCOPING STUDY ON THE BROADER PROJECT (CV5 + CV13) REMAIN ON TRACK, TARGETING COMPLETION IN Q4-2026.

BULK SAMPLE APPLICATION

The Company is actively advancing the permitting of an underground bulk sample at CV5, targeting samples (50,000 tonnes) at the upper levels of the proposed underground mine, the high-grade Nova Zone and known caesium occurrences in pollucite. The bulk sample application is the subject of an ESIA exemption application, with feedback from COMEV expected during the June quarter. In the meantime, project engineering continues to advance to inform subsequent detailed activities permits required for the bulk sample project, with the objective of being shovel-ready by year-end. 

HYDRO QUEBEC POWER APPLICATION

The Company has now formally made its application for power at the Shaakichiuwaanaan Project, through the Hydro Quebec application process. Hydro Quebec has acknowledged the submission, and is reviewing the application.

Access to Hydro Quebec’s power offers distinct competitive advantages. Firstly, the cost of power is very low (estimated at approximately 5.3c/kWhr in the CV5 lithium-only Feasibility Study), and as a renewable power source, it has a comparatively negligible carbon footprint. The final allocation of power from Hydro-Quebec is the subject of both engineering assessment/reviews and determination of the Project’s merit, against competing power applications.

The Company believes that the close proximity of the Shaakichiuwaanaan Project to the La Grande 4 Power station (LG4) (see Figure 2 below) and its associated sub-station infrastructure, positions it as an ideal customer given that Shaakichiuwaanaan will not be subject to the extended power line distribution losses and infrastructure constraints potentially facing many projects further south. This fact, combined with the Project’s alignment with Quebec’s objectives in critical minerals supply chains, make a compelling case to support its Hydro-Quebec power application.

Figure 1: Shaakichiuwaanaan Project Location and Regional Infrastructure.
Figure 1: Shaakichiuwaanaan Project Location and Regional Infrastructure.

 

Figure 2: LG4 Power Station and the Proposed Shaakichiuwaanaan Power Line Corridor.
Figure 2: LG4 Power Station and the Proposed Shaakichiuwaanaan Power Line Corridor.

QUALIFIED/COMPETENT PERSON

The technical and scientific information in this news release that relates to the Mineral Resource  Estimate and exploration results for the Company’s properties is based on, and fairly represents, information compiled by Mr. Darren L. Smith, M.Sc., P.Geo., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 01968), and with the Association of Professional Engineers and Geoscientists of Alberta (member number 87868). Mr. Smith has reviewed and approved the related technical information in this news release.

Mr. Smith is an Executive and Vice President of Exploration for PMET Resources Inc. and holds common shares, Restricted Share Units (RSUs), Performance Share Units (PSUs), and options in the Company.

The information in this news release that relates to the Mineral Reserve Estimate and Feasibility Study is based on, and fairly represents, information compiled by Mr. Frédéric Mercier-Langevin, Ing. M.Sc., who is a Qualified Person as defined by NI 43-101, and member in good standing with the Ordre des Ingénieurs du Québec. Mr. Mercier-Langevin has reviewed and approved the related technical information in this news release.

Mr. Mercier-Langevin is the Chief Operating and Development Officer for PMET Resources Inc. and holds common shares, RSUs, PSUs, and options in the Company.

ABOUT PMET RESOURCES INC.

PMET Resources Inc. is a pegmatite critical mineral exploration and development company focused on advancing its district-scale 100%-owned Shaakichiuwaanaan Property located in the Eeyou Istchee James Bay region of Quebec, Canada, which is accessible year-round by all-season road and proximal to regional hydro-power infrastructure.

In late 2025, the Company announced a positive lithium-only Feasibility Study on the CV5 Pegmatite for the Shaakichiuwaanaan Property and declared a maiden Mineral Reserve of 84.3 Mt at 1.26% Li2O (Probable)3. The study outlines the potential for a competitive and globally significant high-grade lithium project targeting up to ~800 ktpa spodumene concentrate using a simple Dense Media Separation (“DMS”) only process flowsheet. Further, the results highlight Shaakichiuwaanaan as a potential North American critical mineral powerhouse with significant opportunity for tantalum and caesium in addition to lithium.

The Project hosts a Consolidated Mineral Resource4 totalling 108.0 Mt at 1.40% Li2O and 166 ppm Ta2O5 (Indicated) and 33.4 Mt at 1.33% Li2O and 155 ppm Ta2O5 (Inferred), and ranks as a top ten lithium pegmatite globally in size. Additionally, the Project hosts the world’s largest pollucite-hosted caesium pegmatite Mineral Resource at the Rigel and Vega zones with 0.69 Mt at 4.40% Cs2O (Indicated), and 1.70 Mt at 2.40% Cs2O (Inferred).

_______________________________________

3 See Feasibility Study news release dated October 20, 2025. Probable Mineral Reserve cut-off grade is 0.40% Li2O (open-pit) and 0.70% Li2O (underground). Underground development and open-pit marginal tonnage containing material above 0.37% Li2O are also included in the statement. Effective Date of September 11, 2025.

4 The Consolidated MRE (CV5 + CV13 pegmatites), which includes the Rigel and Vega caesium zones, totals 108.0 Mt at 1.40% Li2O, 0.11% Cs2O, 166 ppm Ta2O5, and 66 ppm Ga, Indicated, and 33.4 Mt at 1.33% Li2O, 0.21% Cs2O, 155 ppm Ta2O5, and 65 ppm Ga, Inferred, and is reported at a cut-off grade of 0.40% Li2O (open-pit), 0.60% Li2O (underground CV5), and 0.70% Li2O (underground CV13). A grade constraint of 0.50% Cs2O was used to model the Rigel and Vega caesium zones. The Effective Date is June 20, 2025 (through drill hole CV24-787). Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. Mineral Resources are inclusive of Mineral Reserves.

For further information, please contact us at info@pmet.ca or by calling +1 (604) 279-8709, or visit www.pmet.ca. Please also refer to the Company’s continuous disclosure filings, available under its profile at www.sedarplus.ca and www.asx.com.au, for available exploration data.

This news release has been approved by

“KEN BRINSDEN”                                 

Kenneth Brinsden, President, CEO, & Managing Director

DISCLAIMER FOR FORWARD-LOOKING INFORMATION

This news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws.

All statements, other than statements of present or historical facts, are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are typically identified by words such as “progressing”, “on track”, “targeting”, “continues”, “advance”, “FID”, “to become”, “opportunity”, “further”, “expected”, “committed”, “over the coming years”, “ahead of updates”, “underway” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. 

Forward-looking statements include, but are not limited to, statements concerning the ESIA submission, the updated CV5 lithium-tantalum Feasibility Study and parallel lithium-caesium-tantalum PEA/Scoping Study on the broader project (CV5 + CV13), the bulk sample and Hydro-Québec power applications,  bringing the Project into production and exploration and development potential of the Project.

Forward-looking statements are based upon certain assumptions and other important factors that, if untrue, could cause actual results to be materially different from future results expressed or implied by such statements. There can be no assurance that forward-looking statements will prove to be accurate. Key assumptions upon which the Company’s forward-looking information is based include, without limitation, the ability to make discoveries, the potential of each of tantalum, lithium, caesium as a co-product, the ability to complete an updated Feasibility Study for the CV5 Pegmatite with the addition of tantalum as a co-product, as well as a Preliminary Economic Assessment for the broader Project inclusive of lithium, caesium, and tantalum, the ability to get approval for the bulk sample initiative and for the Hydro-Québec power, the obtention of all required regulatory approvals, that proposed exploration work on the Property and the results therefrom will continue as expected, the accuracy of reserve and resource estimates, the classification of resources and the assumptions on which the reserve and resource estimates are based, long-term demand for lithium (spodumene), tantalum (tantalite), and caesium (pollucite)  supply, and that exploration and development results continue to support management’s current plans for the Property’s development.

Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, any of which could have a material adverse effect on the Company’s business, financial condition, results of operations and growth prospects. Readers should review the detailed risk discussion in the Company’s most recent Annual Information Form filed on SEDAR+, for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.

Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate. If any of the risks or uncertainties mentioned above, which are not exhaustive, materialize, actual results may vary materially from those anticipated in the forward-looking statements.

The forward-looking statements contained herein are made only as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements.

COMPETENT PERSON STATEMENT (ASX LISTING RULES)

The information in this news release that relates to the Feasibility Study (“FS”) for the Shaakichiuwaanaan Project, which was first reported by the Company in a market announcement titled “PMET Resources Delivers Positive CV5 Lithium-Only Feasibility Study for its Large-Scale Shaakichiuwaanaan Project” dated October 20, 2025 (Montreal time) is available on the Company’s website at www.pmet.ca, on SEDAR+ at www.sedarplus.ca and on the ASX website at www.asx.com.au. The production target from the Feasibility Study referred to in this news release was reported by the Company in accordance with ASX Listing Rule 5.16 on the date of the original announcement. The Company confirms that, as of the date of this news release, all material assumptions and technical parameters underpinning the production target in the original announcement continue to apply and have not materially changed.

The Mineral Resource and Mineral Reserve Estimates in this release were first reported by the Company in accordance with ASX Listing Rule 5.8 in market announcements titled “World’s Largest Pollucite-Hosted Caesium Pegmatite Deposit” dated July 20, 2025 (Montreal time) and “PMET Resources Delivers Positive CV5 Lithium-Only Feasibility Study for its Large-Scale Shaakichiuwaanaan Project” dated October 20, 2025 (Montreal time) and are available on the Company’s website at www.pmet.ca, on SEDAR+ at www.sedarplus.ca and on the ASX website at www.asx.com.au. The Company confirms that, as of the date of this news release, it is not aware of any new information or data verified by the competent person that materially affects the information included in the relevant announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant announcement continue to apply and have not materially changed. The Company confirms that, as at the date of this announcement, the form and context in which the competent person’s findings are presented have not been materially modified from the original market announcement.

Olivier Caza-Lapointe, Head, Investor Relations, T: +1 (514) 913-5264, E: ocazalapointe@pmet.ca

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Enhanced and A Paradise Announce Shareholder Approval of Business Combination

NEW YORK and HONG KONG, May 5, 2026 /PRNewswire/ — Enhanced Ltd (“Enhanced” or the “Company”), and A Paradise Acquisition Corp. (NASDAQ: APAD) (“A Paradise”), a special purpose acquisition company, today announced that their previously announced business combination (the “Business Combination”) was approved at an extraordinary general meeting (the “EGM”) of A Paradise’s shareholders on May 1, 2026.

Complete official results of the vote will be included in a current report on Form 8-K to be filed by A Paradise with the U.S. Securities and Exchange Commission (the “SEC”) today.

The Business Combination is expected to close shortly after all closing conditions have been satisfied or waived. In connection with such closing, the combined company, Enhanced Group Inc., is expected to begin trading its Class A common stock on the New York Stock Exchange (the “NYSE”) under the ticker symbol “ENHA”, subject to the closing of the Business Combination and the fulfillment of all applicable listing requirements of the NYSE.

Forward-Looking Statements

This communication only speaks at the date hereof and may contain, and related discussions contain, “forward-looking statements” within the meaning of U.S. federal securities laws. These statements include descriptions regarding the intent, belief, estimates, assumptions or current expectations of A Paradise, Enhanced or their respective officers with respect to the consolidated results of operations and financial condition, future events and plans of A Paradise and Enhanced. These forward-looking statements may be identified by a reference to a future period or by the use of forward-looking terminology. Forward-looking statements are typically identified by words such as “expect”, “believe”, “foresee”, “anticipate”, “intend”, “estimate”, “goal”, “strategy”, “plan”, “target” and “project” or conditional verbs such as “will”, “may”, “should”, “could”, or “would” or the negative of these terms, although not all forward-looking statements contain these words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs, estimates and projections, and various assumptions, many of which are inherently uncertain and beyond A Paradise’s and Enhanced’s control. Such expectations, beliefs, estimates and projections are expressed in good faith, and management believes there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs, estimates and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to: the outcome of any legal proceedings that may be brought against Enhanced or A Paradise following the announcement of the transactions described herein; the inability to complete the transactions described herein; the valuation of Enhanced in connection with the business combination, which was determined through negotiations among affiliated parties and may not represent a market-based valuation; Enhanced’s unproven business model, limited operating history, and minimal revenue to date; the success of the inaugural 2026 Enhanced Games and subsequent events; audience, sponsor and media demand for performance-enhanced competition and related products; the availability of financing and proceeds from the private placement financing described herein; public, medical, regulatory, and ethical scrutiny of performance-enhancement substances and telehealth practices; the evolution of applicable sports, health, and data-privacy regulations; competition from established sports organizations and entertainment providers; insurance coverage limitations and increased operating costs; dependence on key management and medical personnel; exposure to litigation, antitrust or regulatory actions; risks related to market volatility, redemptions and the consummation of the business combination; Enhanced’s ability to develop and, expand its information technology and financial infrastructure; Enhanced’s intellectual property position, including the ability to maintain and protect intellectual property; the need to hire additional personnel and ability to attract and retain such personnel; the ability to recruit and retain athletes, coaches and partners; its ability to obtain additional capital and establish, grow and maintain cash flow or obtain additional and adequate financing; the effects of any future indebtedness on Enhanced’s liquidity and its ability to operate the business; its expectations concerning relationships with third parties and partners; the impact of laws and regulations and its ability to comply with such laws and regulations including laws and regulations relating to consumer protection, advertising, tax, data privacy, and anti-corruption; any changes in certain rules and practices of U.S. and Non-U.S. entities, including U.S.A. Swimming, U.S.A. Track & Field, U.S.A Weightlifting, World Anti-Doping Agency, World Aquatics, World Athletics, the International Weightlifting Federation and other sport governing bodies; its expectations regarding the period during which Enhanced will qualify as an emerging growth company under the JOBS Act; the increased expenses associated with being a public company; and Enhanced’s anticipated use of its existing resources and proceeds from the transactions described herein. There may be other risks not presently known to us or that we presently believe are not material that could also cause actual results to differ materially. Analysis and opinions contained in this communication may be based on assumptions that, if altered, can change the analysis or opinions expressed. In light of the significant uncertainties inherent in the forward-looking statements included in this communication, the inclusion of such forward-looking statements should not be regarded as a representation by us or any other person that the objectives and plans set forth in this communication will be achieved, and you are cautioned not to place substantial weight or undue reliance on these forward-looking statements. These forward-looking statements speak only as of the date they are made and, A Paradise and Enhanced each disclaims any obligation, except as required by law, to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.

References throughout this communication to websites and reports are provided for convenience only, and the content on the referenced websites or in the referenced reports is not incorporated by reference into this communication. Enhanced assumes no liability for any third-party content contained on the referenced websites or in the referenced reports.

About A Paradise Acquisition Corp.

A Paradise Acquisition Corp. is a blank check company sponsored by A SPAC IV (Holdings) Corp., a British Virgin Islands company, and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.

About Enhanced Ltd

Enhanced is an elite sports competition and performance products company committed to giving athletes and people alike access to products that optimize their health, performance and recovery. The Enhanced Performance Product line provides consumers access to products and protocols that optimize health, longevity and vitality. As a premium brand, Enhanced aims to revolutionize and lead the Performance Medicine category.

About The Enhanced Games

The Enhanced Games will champion scientific innovation and integrity in elite sporting competition. Enhanced believes in an objective, evidence-based approach to competition, one that celebrates athletic excellence and unlocks athletes’ full potential. The Enhanced Games is not only creating a sporting event that is thrilling for spectators but also a beacon for scientific transparency and athlete welfare. By putting athletes first, it gives them the opportunity to reach their full potential and be compensated accordingly, all while ensuring their safety through rigorous medical supervision and scientific oversight. The inaugural Enhanced Games will take place on May 24, 2026 and will be held at a purpose-built competition complex at Resorts World Las Vegas. The Games will offer unprecedented financial incentives to athletes.

For Investors Contact:

Asia Gilbert
Head of Investor Relations, Enhanced
asia.gilbert@enhanced.org

Vinhomes Green Paradise And Marriott International Partner To Bring The Ritz-Carlton And Marriott To Can Gio


HANOI, VIETNAM – Media OutReach Newswire – 4 May 2026 – Cangio Tourist City Corporation, the developer of Vinhomes Green Paradise, and Marriott International have signed a strategic partnership agreement to introduce two of the world’s leading hotel brands, The Ritz-Carlton and Marriott Hotel, to Vinhomes Green Paradise Can Gio (Ho Chi Minh City). With a combined scale of approximately 700 rooms and high-end resort villas, The Ritz-Carlton and Marriott Hotel will not only expand the project’s portfolio of prestigious hotel brands but also reinforce world-class luxury service standards, befitting the stature of a global “urban wonder“.

Leading global hotel brands under Marriott International will elevate luxury service standards at Vinhomes Green Paradise to a world-class level.
Leading global hotel brands under Marriott International will elevate luxury service standards at Vinhomes Green Paradise to a world-class level.

The Ritz-Carlton Can Gio is located at a prime riverside site in the heart of the Vinhomes Green Paradise coastal mega-urban area and is expected to open in Q4 2027.

The hotel will feature 9 floors and approximately 250 keys, with room sizes ranging from 50 to 500 sqm, including suites and pool villas. Facilities include six restaurants and bars, two swimming pools, a spa integrating hydrotherapy and thermal wellness, meditation spaces, a fitness center, beauty salon, and the Ritz Kids club. The event space will comprise three function rooms totaling approximately 540 sqm, catering to a wide range of meetings and events.

Can Gio Marriott Hotel, located adjacent to the opera house and near the golf course and sports complex within the coastal mega-urban area, is also scheduled to open in Q4 2027.

The hotel will rise 25 floors and offer approximately 450 rooms ranging from 40 to 160 sqm, including premium suites. Amenities include an M Club Lounge, a system of restaurants and bars, a swimming pool, Quan Spa, and a sports club. Additionally, the hotel will provide approximately 1,570 sqm of meeting and event space, including two ballrooms, catering to large-scale events.

Together, The Ritz-Carlton and Marriott Hotel will deliver approximately 700 rooms, featuring a diverse range of accommodations, from standard rooms and suites to villas, supported by a comprehensive ecosystem of premium amenities and world-class five-star infrastructure.

The development and operational collaboration will be managed by Vinpearl, a member of Vingroup. With extensive experience in luxury hospitality, Vinpearl will oversee and directly implement operations to ensure the effective performance of these international hotel brands, contributing to the positioning of luxury service standards commensurate with a global “urban wonder” such as Vinhomes Green Paradise Can Gio.

Mr. Gautam Bhandari, Chief Development Officer for Asia Pacific (excluding China) at Marriott International, stated:“Marriott International’s long-standing partnership with Vingroup has helped shape Vietnam’s hospitality market over the years. We currently operate 11 hotels with Vinpearl, a member of Vingroup, and have several projects under development. With Vingroup’s visionary approach, commitment to excellence, and strong core values, we are confident that this project will not only deliver high-quality accommodations but also elevate the destination and create sustainable value for the local economy.”

Ms. Ngo Thi Huong, Chief Executive Officer of Vinpearl Joint Stock Company, added:“Our collaboration with Marriott International to bring The Ritz-Carlton, Can Gio and Can Gio Marriott Hotel represents a strategic step toward introducing global luxury service standards to Vinhomes Green Paradise Can Gio. Beyond developing internationally branded hotels, we aim to build a fully integrated service ecosystem, enhancing customer experience, strengthening operational capabilities, and aligning service quality with global standards, so that residents and visitors can enjoy international-level experiences right here in Vietnam.”

Previously, Vinhomes Green Paradise Can Gio partnered with IHG Hotels & Resorts to develop four hotels with a total of 1,000 rooms. The presence of international brands such as IHG Hotels & Resorts and Marriott International not only expands accommodation capacity but also significantly enhances the project’s ability to attract global visitors. This forms a critical foundation for the coastal mega-urban area to elevate experiences and move closer to its goal of becoming a world-class residential, tourism, and resort destination.

Vinhomes Green Paradise Can Gio is a 2,870-hectare coastal mega-urban development located in the southeastern part of Ho Chi Minh City, featuring three sides facing the sea and adjacent to a 75,000-hectare biosphere reserve recognized by UNESCO. The project benefits from major infrastructure connectivity, including the Ben Thanh – Can Gio high-speed railway (reducing travel time to 13 minutes from central Ho Chi Minh City), the Can Gio Bridge, the Rung Sac – Ben Luc – Long Thanh interchange, and the Can Gio – Vung Tau coastal expressway.

A distinctive feature of the project is its integrated Green – Smart – Ecological & Regenerative model aligned with leading global ESG++ standards. Alongside its spectacular natural setting and green living environment, the development offers a synchronized amenity system and unique highlights, including the 122-hectare VinWonders theme park featuring the world’s tallest artificial snow mountain and nearly 200 attractions; the 800-hectare Paradise Lagoon; Landmark Harbour international port; the 5,000-seat Song Xanh Opera House; an international-standard golf course; and a portfolio of five-star accommodation. These elements form the foundation for Vinhomes Green Paradise Can Gio to emerge as a new “urban wonder”, with the capacity to welcome up to 40 million visitors annually in the future.

Hashtag: #Vinhomes

The issuer is solely responsible for the content of this announcement.

About Vinhomes

Vinhomes is Vietnam’s leading real estate developer, pioneering the development of large-scale, well-planned urban areas with integrated amenities, green living environments, and modern lifestyles. In addition to 36 urban developments currently in operation nationwide, Vinhomes continues to focus on building next-generation mega and super urban developments of regional scale and significance, aspiring to create some of the most livable cities in the world while significantly transforming Vietnam’s urban landscape.

For more information, please visit

About Vinpearl
Vinpearl is Vietnam’s leading tourism, hospitality, and entertainment brand, currently operating 60 properties across 20 provinces and cities, including five-star hotels and resorts, VinWonders theme parks, golf courses, and convention centers. With 22 years of development, Vinpearl owns 35 five-star hotels and resorts with 17,300 rooms, 15 VinWonders parks, six golf courses, three VinPalace centers, and integrated service complexes. With flagship destinations such as Nha Trang, Phu Quoc, Da Nang – Nam Hoi An, Ha Long, and Hai Phong, Vinpearl delivers premium travel experiences, contributing to elevating Vietnam’s tourism profile globally.

About Marriott
Marriott International (Nasdaq: MAR), headquartered in Bethesda, Maryland, USA, operates a diverse portfolio of brands spanning luxury, premium, select, midscale, extended stay, and all-inclusive segments, with more than 9,800 properties across 145 countries and territories as of December 31, 2025. Marriott operates, franchises, and licenses hotel, residential, timeshare, cruise, outdoor lodging, and other hospitality products globally. The company also offers Marriott Bonvoy®, its award-winning travel platform.

For more information, please visit and , or connect via Facebook and @MarriottIntl on X and Instagram.

xTool WonderPress Surpasses $1 Million in About 4 Hours on Kickstarter: The Most Creative 3D Auto Heat Press Ever

4 hours. $1 million. Over 4,000 backers to date. The future of home crafting has arrived.

SANTA CLARA, Calif., May 4, 2026 /PRNewswire/ — xTool, a global leader in innovative creative tools and laser engravers, has announced the highly anticipated Kickstarter launch of WonderPress. Designed to break the boundaries of traditional heat pressing, WonderPress introduces a new category as the World’s First 3D Auto Heat Press with Switchable Creativity.

The First 3D Auto Heat Press with Switchable Creativity
The First 3D Auto Heat Press with Switchable Creativity

Reaching $1 million in funding in just about four hours, the campaign’s early momentum signals strong demand and positions WonderPress as one of the most talked-about crafting devices of the year.

Reimagining What a Heat Press Can Be

Heat pressing has long been associated with flat surfaces and simple tote bags. xTool WonderPress expands that definition entirely by seamlessly transitioning across five distinct workflows using three simple hardware modules: Auto Heat Press, 3D Sublimation, Vacuum Forming, Professional DTF Curing, and Versatile Craft Baking.

This versatility enables creators to do far more than traditional presses ever allowed. A craft fair vendor can press custom apparel one weekend and cast resin keychains the next—from the exact same device. Etsy shops can sublimate personalized phone cases, badges, keycaps, and unique gift items that mass production cannot replicate. Meanwhile, family and friends can gather to press custom designs onto thick hoodies, ceramic mugs, and shrink-plastic charms with no prior experience needed. From custom apparel to 3D vacuum forming and casting, the best creations no longer have to come from a factory.

xTool WonderPress also amplifies the tools creators already own. Pair it with a laser cutter to heat-bend acrylics into 3D art. Use a single 3D-printed master to vacuum-form mass-produced replicas or professional blister packaging in seconds. Combine it with a cutting machine to seal clear 3D shaker pockets or execute professional vinyl transfers. It doesn’t replace the workshop; it completes it.

Superior Heat Press. Easy 3D Creation. Safe Baking.

While WonderPress unlocks new realms of creative exploration, its core is built strictly for professional, highly efficient output. xTool engineered the device to deliver commercial-grade results on a desktop footprint:

Heat Press Module: Solves longstanding industry efficiency and quality issues with a doubled heating tube density for ultra-even heat, 1 kg and 1°C adjustment precision, and up to 100 kg of pressure for one-pass perfection. A 2X height clearance handles thick hoodies and bulky bags that other presses cannot accommodate.

3D Form Module: Makes the complex easy. Utilizing -90 kPa vacuum suction, it casts custom molds for chocolate, candles, and resin in seconds, while full-wrap sublimation effortlessly reaches curved surfaces.

Craft Oven Module: Handles DTF curing and craft baking simultaneously. A built-in, 3-layer air purification system (H11 + Carbon + H13 HEPA) neutralizes fumes at the source, ensuring maximum safety for indoor use.

Global Availability

The xTool WonderPress is available on Kickstarter from April 28 to June 24 at 17:00 PM PDT, featuring the following Super Early Bird pricing (prices will return to MSRP after the campaign ends): 

  • Heat Press Module: $279 (MSRP $399, 30% off)
  • Heat Press + 3D Form Module: $449 (MSRP $639, 30% off)
  • Heat Press + Craft Oven Module: $479 (MSRP $679, 29% off)
  • All-in-One Bundle (all three modules): $599 (MSRP $919, 35% off)

To learn more or back the project, visit the Kickstarter campaign or explore the official xTool WonderPress page.

About xTool

xTool is a global premium consumer-tech brand dedicated to empowering digital-to-physical creation. As the world’s largest and fastest-growing laser engraver innovator, xTool provides a comprehensive ecosystem of laser-based personal creative tools, material printers, user-friendly software, accessories, and consumables. Through these innovations, xTool empowers creators to turn imagination into meaningful creations that deliver emotional fulfillment, commercial success, and personal achievement. Discover more at xtool.com.

 

COSRX’s #1 Amazon Eye Patch Goes on Sale During Amazon’s Summer Beauty Event

NEW YORK, May 4, 2026 /PRNewswire/ — As Amazon’s Summer Beauty Event returns from April 27 to May 10, 2026, COSRX spotlights its The Peptide Collagen Hydrogel Eye Patch, recently ranked #1 in the Amazon U.S. Eye Mask category (April 11–20, 2026), as part of a limited-time event promotion.

The product, widely recognized across search and social platforms as one of the best eye patches on Amazon and a viral TikTok favorite, will be featured in a flash deal from May 5–6, offering 30% off, alongside broader skincare discounts of up to 40% during the event.

COSRX’s #1 Amazon Eye Patch Goes on Sale During Amazon’s Summer Beauty Event
COSRX’s #1 Amazon Eye Patch Goes on Sale During Amazon’s Summer Beauty Event

A Multi-Targeted Approach to Puffiness, Dark Circles, and Early Signs of Aging
As healthy aging continues to gain momentum, the under-eye area is increasingly seen as one of the first places where signs of fatigue and visible aging appear. Addressing concerns such as puffiness, fine lines, dryness, and loss of firmness has therefore become a key focus in daily skincare routines, with COSRX’s The Peptide Collagen Hydrogel Eye Patch designed to target these concerns in a single step.

The formula combines four types of Peptides, low molecular Collagen, Niacinamide, Caffeine, Hyaluronic Acid, Vitamin B12, and adenosine to help support smoother, brighter, and more refreshed-looking under-eyes in as little as 10 minutes.

Unlike typical eye patches that focus on a single benefit, this hydrogel patch delivers a multi-dimensional approach—helping to firm and smooth, reduce puffiness, deeply hydrate, and improve overall elasticity. Clinical testing shows up to a 25% reduction in puffiness and a 17% improvement in firmness around the eye area, and the formula has also completed a sensitive skin irritation test, making it suitable for all skin types.

Hydrogel Technology for Enhanced Adhesion and Delivery
A notable feature of the formula is its hydrogel texture, designed to adhere closely to the skin. This helps maintain consistent contact with the under-eye area, supporting effective delivery of active ingredients. Compared to traditional patches that may slip or require adjustment, the hydrogel format allows for more stable wear during daily activities.

Limited-Time Flash Deal During Amazon Summer Beauty Event
For those looking to restock a top-performing skincare essential or secure a last-minute Mother’s Day gift, the COSRX The Peptide Collagen Hydrogel Eye Patch will be featured as part of a limited-time promotion during Amazon’s Summer Beauty Event.

As part of the promotion:

  • Event period: April 27 – May 10, 2026
  • Flash deal (Eye Patch): May 5–6
  • Discount: 30% off

With its recent #1 ranking and growing visibility across TikTok and search platforms, the product is expected to be a key highlight during the event.

About COSRX
Rooted in science and driven by results, COSRX is a global skincare brand known for its high-performance yet affordable formulations that target real skin concerns with minimal ingredients and maximum efficacy. Trusted by skincare lovers worldwide, COSRX delivers visible results through carefully selected actives in concentrated doses. Discover its award-winning lineup at retailers including COSRX.com, Amazon, ULTA, Revolve, Dermstore, Nordstrom and Target. Follow @cosrx on Instagram and TikTok for the latest product drops, tips, and trends.

/DISREGARD RELEASE: iFOREX/

We are advised by iFOREX that journalists and other readers should disregard the news release, iFOREX Lists on London Stock Exchange, offering Cryptocurrency trading (CFDs) Across Global and LATAM Markets, issued 29-Apr-2026 over PR Newswire.

Minesto AB: Interim Management Statement 1 January – 31 March 2026

GOTHENBURG, Sweden, May 4, 2026 /PRNewswire/ — CEO Dr Martin Edlund: “An intense first quarter has seen progress in market and technology development.”

Significant events January-March 2026

In January, Minesto was selected for in-depth investment advisory support by the European Investment Bank (EIB) under the PDA (Project Development Assistance) programme. The program offers extensive free of charge financial advisory support to a few carefully selected investment opportunities within the renewable energy sector in the EU. The Minesto investment case chosen for the programme is a 10MW Dragon Farm (tidal energy array) located at a new targeted site within EU waters. The EIB advisory support focus’s on increasing the financial attractiveness and overall quality of the investment offer, aiming to raise 25 M EUR in capital.

Minesto was awarded 24,000 EUR grant funding from the Swedish Energy Agency (SEA) through the Global Innovation Accelerator (GIA) programme, aiming to accelerate the company’s market development in Taiwan. As part of the programme, Minesto officially took part in the high-level Nordic-Taiwan Sustainable Energy Forum, held in Taipei in December. 

Minesto initiated collaboration with expert ocean energy site developer Haf-Afl for the Icelandic market. Minesto continues to follow through with a market entry strategy based on collaboration with strong local site development and project investment partners. With the signing of a new partnership agreement (MOU) with ocean energy site developer Haf-Afl, the Icelandic market is added to Minesto’s range of markets actively pursued.

Minesto’s Dragon testing in Vestmanna continued. Minesto’s microgrid scale powerplant Dragon 4 (100kW) is installed and produces electricity to the Faroese grid, generating valuable data for the upcoming microgrid installation partly funded by the Swedish Energy Agency. The Minesto tidal energy kite Dragon 12 (1.2 MW) was successfully recovered after 10 months in the water in Vestmannasund. After proving robustness and stability beyond commercial service intervals, the unique megawatt Dragon is on shore for inspection and maintenance.

After the end of the period

No significant events after the end of the period.

The Group in summary 1 January–31 March 2026

Total operating income for the period amounted to SEK 5,619 thousand (6,298) and mainly consist of capitalised development work. Net sales amounted to SEK 0 thousand (0).

Operating loss for the period amounted to SEK –7,065 thousand (–10,697). The negative result is largely attributable to business development and administration related to technology development. During the period personnel costs of SEK 5,619 thousand (6,298) has been capitalised as development work.

At the end of the period, the intangible fixed assets amounted to SEK 581,541 thousand (553,664), of which capitalised development costs SEK 563,118 thousand (536,192) and capitalised patent expenses SEK 18,423 thousand (17,471).

Grants of SEK 2 137 thousand (246) were accounted for during the period, of which SEK 2 137 thousand (246) has reduced the acquisition value of the capitalised development costs.

At the end of the period, cash flow for the period amounted to SEK–17,516 thousand (–24,317). At the end of the period, cash and cash equivalents amounted to SEK 50,081 thousand (10,334).

At the end of the period, equity amounted to SEK 623,478 thousand (557,716) divided into 260,111,612 shares (194,116,040), of which loss for the period amounted to SEK  –6,886 thousand (–10,843).

Year-End Report is available to download at Minesto’s website:

Minesto | Investor information

CEO comment:

An intense first quarter has seen progress in market and technology development.

Our market development strategy based on a broad approach to match strong local partners and a favourable policy context for renewables with favourable site resource conditions is in full swing. We are closing in on active partnerships with strong site developers and utility partners in up to twenty markets.

Our role in this large range of markets, with the exception of the Faroe Islands and Wales where active site development driven by Minesto is ongoing, is to support the local actors with Minesto specific operating parameters and feasibility study input. This puts us in a favourable position to capture step-in business opportunities and to build a solid longer term gigawatt pipeline.

We have concluded joint development and verification of both our financial model and site project development set-up together with EIB sponsored consultants with exceptionally good results and mutual learnings at hand. This is a key enabler for attracting both private site investors (customers) and to submit business plans for different public-funding actors within EU and beyond.

The current macro-economic turmoil has an accelerating effect on our market development activities. The need for local security of supply and yet another reminder of the volatility in fossil energy prices increase determination to push forward with new innovative solutions and new sources of energy such as ours. This situation adds to the general energy transition ambitions to fight climate change.  

On the product and technology side of the business we have ongoing solid energy production from Dragon 4 in Vestmanna as a part of the Microgrid project partly funded by the Swedish Energy Agency. We use this set-up to prepare for both battery charging and to accommodate the new upgraded 50% more powerful generator that has been delivered from the supplier.

Our larger megawatt unit, Dragon 12, has been safely deinstalled for inspection and service after a nine-month installation period over autumn and winter. The unit is fully functional and has endured the ocean conditions in a satisfactory way. We will bring new valuable knowledge on service needs and design upgrades for upcoming customer delivery of power plants.

The cost reduction measures taken during 2025 to adopt to a business development focused organization is in full effect influencing the cash-flow as intended. 

We work relentlessly to deliver the tidal and ocean current sector to the world, and we do it from a position of strength offering the lowest cost ocean energy with base-load characteristics to the largest exploitable market among known technologies.

/Martin Edlund, CEO

Contact:
Cecilia Sernhage, Chief Communications Officer
+46 735 23 71 58
ir@minesto.com 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/minesto-ab/r/interim-management-statement-1-january—31-march-2026,c4343869

The following files are available for download:

https://mb.cision.com/Main/14621/4343869/4073672.pdf

Minesto AB_Interim Management Statement_Q1 2026

https://news.cision.com/minesto-ab/i/minesto-megawatt-tidal-kite-dragon-12-on-shore-for-inspection,c3534425

Minesto megawatt tidal kite Dragon 12 on shore for inspection

https://news.cision.com/minesto-ab/i/minesto-dragon-4-prepared-for-installation-photo-by-minesto,c3534426

Minesto Dragon 4 prepared for installation Photo by Minesto

https://mb.cision.com/Public/14621/4343869/b248b58f2e728fb5.pdf

PR 260504 Interim Management Statement 1 January 31 March 2026