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Cullinan Metals Corp is engaged in the exploration of the company's principal mineral property located in Quebec which is in the exploration stage. The company's project includes Smiley Lithium Project, Lac Chavigny, Lac-Des-Iles West Graphite Project, and the Wakeman Lake Lithium Project.

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CMTNF

CSE:CMT

Cullinan Metals Signs LOI to Acquire Ontario Lithium Properties

A Diversified Clean Energy Trailblazer

Emerging Markets

Opinion

Markets

Graphite, Copper, and Lithium Prices Skyrocketing

President Biden signed the biggest infrastructure-spending bill of all time. A massive $226 billion is earmarked for projects requiring huge amounts of energy metals. 

CULLINAN METALS CORP by Cullinan Metals Corp.

Cullinan Metals Corp

WIIM

PDSB

PDS Biotechnology shares are trading lower after the company announced up to $22 million registered direct offering priced at-the-market under Nasdaq rules.

Piper Sandler analyst Arvind Ramnani maintains PayPal Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) with a Neutral and lowers the price target from $85 to $76.

News

Price Target

Analyst Ratings

PYPL

Piper Sandler Maintains Neutral on PayPal Holdings, Lowers Price Target to $76

Piper Sandler analyst Arvind Ramnani maintains Lemonade (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMND#NYSE">LMND</a>) with a Neutral and lowers the price target from $44 to $34.

LMND

Piper Sandler Maintains Neutral on Lemonade, Lowers Price Target to $34

Needham analyst Ryan MacDonald reiterates Teladoc Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>) from Hold to Hold.

Reiteration

TDOC

Needham Reiterates Hold on Teladoc Healthto Hold

New Jersey's latest budget proposal could shake up the <a href="https://www.benzinga.com/general/sports-betting">online sports betting (OSB)</a> <a href="https://www.benzinga.com/general/gaming">and iGaming landscape</a>. 
JPMorgan analyst Joseph Greff is ringing the alarm. Governor Phil Murphy's fiscal year 2026 budget plan includes a tax rate hike for OSB and iGaming operators, jumping to 25% from 13% and 15%, respectively.
While this isn't a done deal — last year's proposed increase to 30% failed — the governor's endorsement raises the odds of some form of tax bump passing this time.
Read Also: <a href="https://www.benzinga.com/general/entertainment/25/02/43495392/africas-1-8-billion-gaming-boom-why-microsoft-cant-ignore-mobile">Africa&#8217;s $1.8 Billion Gaming Boom: Why Microsoft Can&#8217;t Ignore Mobile</a>
<h2 class="wp-block-heading">DraftKings Feels The Heat</h2>
If implemented by July 2025, Greff estimates that DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) could take a $52 million to $57 million EBITDA hit next year. That's roughly 5% to 6% of its projected 2025 EBITDA midpoint of $950 million — no small change.
Investors may recall DraftKings already bracing for a $50 million hit in the second half of 2024 due to Illinois' tax hike. This latest proposal would add another hurdle for the sports betting giant.
<h2 class="wp-block-heading">Other Operators In The Crosshairs</h2>
It's not just DraftKings feeling the squeeze. 
BetMGM, a subsidiary of MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), could see a $35 million to $39 million EBITDA impact.
On the other hand, Caesars Digital, a unit of Caesars Entertainment Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) and PENN Entertainment Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) Penn Interactive would take smaller, yet still noticeable, hits of $15 million to $16 million and $3 million to $4 million, respectively.
<h2 class="wp-block-heading">Investor Implications: Who Comes Out On Top?</h2>
While tax increases are never welcome news, Greff suggests that the biggest players — like DraftKings and BetMGM — are best positioned to weather the storm. Their scale and brand power provide some cushion against regulatory shifts.
Additionally, states looking to plug budget gaps could accelerate iGaming legislation, potentially creating new market opportunities. For investors, keeping an eye on legislative developments in New Jersey and beyond could be key to navigating the evolving regulatory landscape.
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Glauber Contessoto, also known as &#8216;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42097462/dogecoin-millionaire-shares-50-million-meme-coin-strategy-for-2025-pepe-brett-are-this-bull-runs-doge-shiba-inu">the Dogecoin millionaire</a>&#8216;, has listed his meme coin conviction plays pointing to the best one for the cycle.
What Happened: In an <a href="https://x.com/ProTheDoge/status/1894936861799276714">X</a> post on Thursday, Contessoto doubled down on his meme coin conviction plays, predicting Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), Floki Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">FLOKI</a>), Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) and Brett (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BRETT</a>) will dominate this bull run, &#8220;leaving everyone else in the dust.&#8221;
He believes FLOKI stands out in marketing, citing its global advertising efforts over the past four years. 
Contessoto sees it as underrated and expects it to outperform many other meme coins when its time comes.
He stated that he has been bullish on FLOKI since 2021, reaffirming his belief it will go parabolic in 2025 as visibility increases. 
His strategy is to bet on established, community-driven, top 10 meme coins.
In another <a href="https://x.com/ProTheDoge/status/1894445972052136258">X</a> post, the millionaire trader noted the &#8220;unusual red February&#8221; in comparison to previously green Februaries, calling it "unprecedented times."
Crypto trader Shelby <a href="https://x.com/CryptoNewton/status/1894790888477315424">stated</a> his belief that the next top meme coin is not Dogecoin or Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) but Floki. 
He calls it a meme coin with real utility and global branding partnerships.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43945957/liquidity-is-disappearing-bitcoins-downturn-spells-doom-for-altcoins-analyst-warns">&#8216;Liquidity Is Disappearing&#8217;: Bitcoin&#8217;s Downturn Spells Doom For Altcoins, Analyst Warns</a>
What's Next: Crypto trader Jelle spotted a bullish divergence on the Floki chart, noting that momentum is picking up while the price is making lower lows.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Higher lows in the RSI, lower lows in price. Divergences like these tend to result in a bounce. Eyes on a reclaim of 10000.<a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FLOKI</a> <a href="https://t.co/W4zF0Nu7YB">pic.twitter.com/W4zF0Nu7YB</a>
&mdash; Jelle (@CryptoJelleNL) <a href="https://twitter.com/CryptoJelleNL/status/1894748739689967652?ref_src=twsrc%5Etfw">February 26, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Crypto chart analyst Ali Martinez <a href="https://x.com/ali_charts/status/1894918371734421887">highlighted</a> a buy signal on DOGE's daily chart as reflected in the TD Sequential indicator. He believes the chart is ready for a rebound.
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Image: Shutterstock

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'Dogecoin Millionaire' Shares Meme Coin Picks 'Leaving Everyone Else In The Dust': Did DOGE, SHIB, PEPE Make The Cut?

Telsey Advisory Group analyst Dana Telsey maintains Bath &amp; Body Works (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>) with a Outperform and maintains $43 price target.

BBWI

Telsey Advisory Group Maintains Outperform on Bath & Body Works, Maintains $43 Price Target

Stephens &amp; Co. analyst Jim Salera reiterates Papa John's International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>) with a Overweight and maintains $60 price target.

PZZA

Stephens & Co. Reiterates Overweight on Papa John's International, Maintains $60 Price Target

Piper Sandler analyst David Westenberg maintains Zoetis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) with a Overweight and raises the price target from $200 to $205.

Piper Sandler Maintains Overweight on Zoetis, Raises Price Target to $205

GreenSpark – Backed by BMW i Ventures and Gaining Significant Adoption in the Metal Recycling Sector – is Expected to Power $GWAV's Ambitious 2025 Growth Plans
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Vistra Corp shares are trading higher. The company reported Q4 financial results.

Piper Sandler analyst Jessica Tassan maintains Teladoc Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>) with a Overweight and lowers the price target from $13 to $12.

Piper Sandler Maintains Overweight on Teladoc Health, Lowers Price Target to $12

The GEO Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEO#NYSE">GEO</a>) shares are trading lower after the company reported&nbsp;fourth-quarter revenue of&nbsp;$607.7&nbsp;million, beating <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b44000823/the-geo-group-reports-fourth-quarter-and-full-year-2024-results" rel="noreferrer noopener">the&nbsp;consensus of&nbsp;$607.44 million</a>.
Adjusted EBITDA declined to&nbsp;$108.0&nbsp;million from&nbsp;$129.0&nbsp;million a year ago quarter. Adjusted EPS&nbsp;of&nbsp;13 cents came below&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">the consensus of&nbsp;22 cents</a>.
Revenue for the fourth quarter of 2024 rose sequentially compared to the third quarter. However, earnings and adjusted EBITDA fell short of the company&#8217;s guidance, largely due to the elevated general and administrative expenses incurred during the period.
The increase in general and administrative expenses was partly due to previously announced management team reorganization and additional professional fees associated with preparing for future growth initiatives and related operations in 2025.
George C. Zoley, Executive Chairman of GEO, said, &#8220;In 2024, we also incurred $9 million of our previously announced $70 million investment to strengthen our capabilities to deliver expanded detention capacity, secure transportation, and electronic monitoring services to U.S. Immigration and Customs Enforcement (&#8220;ICE&#8221;) and the federal government.&#8221;
The company&#8217;s total net debt was approximately&nbsp;$1.7 billion at the end of the&nbsp;fourth quarter 2024.
Outlook: Geo sees FY25&nbsp;outlook for EPS of&nbsp;$0.74–&nbsp;$0.88 (vs. the consensus estimate of&nbsp;$1.55), adjusted EBITDA of $460 million-$485 million and revenue of around $2.5 billion <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">(vs. consensus of $2.76 billion)</a>.
In 2025, the company expects to further reduce the total net debt by around $150 million to $175 million, bringing the total net debt to about $1.55 billion.
In a separate release, Geo disclosed that it secured a 15-year, fixed-price contract worth about $1 billion with U.S. Immigration and Customs Enforcement (ICE) to provide support services for a federal immigration processing center at its 1,000-bed <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b44000864/the-geo-group-awarded-15-year-contract-by-u-s-immigration-and-customs-enforcement-for-company-owne" rel="noreferrer noopener">Delaney Hall Facility in Newark, New Jersey</a>.
The new support services contract is expected to generate over $60 million in annual revenue for GEO in its first full year, with margins in line with GEO&#8217;s Secure Services facilities.
GEO plans to reactivate the facility in the&nbsp;second quarter&nbsp;of 2025, with revenue and earnings normalizing in the second half of the year.
Investors can gain exposure to the stock via&nbsp;Ballast Small/Mid Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGMT#NYSE">MGMT</a>) and Schwab Fundamental U.S. Small Company ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FNDA#NYSE">FNDA</a>).
Price Action: GEO shares are down 4% at $24.75 premarket at the last check Thursday.
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Barrington Research analyst Kevin Steinke maintains Huron Consulting Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HURN#NASDAQ">HURN</a>) with a Outperform and raises the price target from $142 to $167.

HURN

Barrington Research Maintains Outperform on Huron Consulting Gr, Raises Price Target to $167

Cullinan Metals

<table style='width:fit-content; border: none;'><tr style='background: none;'><td colspan='10' style='padding: 0; margin: 0; border: none; background: none;' valign='bottom'><a target='_blank' href='https://www.cullinanmetals.com/'><img src="https://thenewswire.com/data/tnw/clients/logos/1BR1FElzq.png?t=1692394201" alt="Cullinan Metals Corp." /></a></td></tr><tr style='background: none;'><td style='padding: 0; margin: 0; border: none; background: none;'></td></tr></table>

Vancouver, BC - TheNewswire - August 21, 2023 - Cullinan Metals Corp. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/CMT#CSE">CMT</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CMTNF#OTC">CMTNF</a>) (FWB:7KO) ("Cullinan" or the "Company") is pleased to announce that it has signed non-binding letters of intent (the "LOI"), with two vendors ("Vendors" or individually, "Vendor One" and "Vendor Two") to acquire a 100% interest in and to a series of highly prospective lithium mineral properties (the "Properties") located in Northwestern Ontario. 



The LOI with Vendor One is dated July 26, 2023, and it includes a series of mineral projects which are commonly referred to as "Flower Falls", "Lily Pad", "Dory Ariel-Lake", "West Haig", "East Haig", "Ratte Lake" and "Flash Lake North". 



The LOI with Vendor Two is dated July 31, 2023, and it includes two mineral projects that are commonly referred to as "Waspesi" and "North Maskerine".



The Properties:



The Flower Falls, Dory - Aerial Lake, West Haig, East Haig, and Flash Lake properties are located in a lithium-favorable geological setting in the vicinity of the Georgia Lake, Mavis Lake, Separation Rapids and GT1's Root Lake properties in Northwestern Ontario where lithium prospects and deposits have been discovered. Geologically, the properties are hosted within metasediments of the English River Subprovince between two muscovite-bearing peraluminous granites. <a href='' target='_blank'></a>Lithium has been the primary mineral of economic interest in this area and the lithium mineralization style is dominantly hosted within spodumene-bearing pegmatite dykes and sills. The pegmatites of the area seem to be of magmatic origin and are generated by the progressive crystallization of granitic magma. They usually appear as loosely tabular dykes and sills, attenuated lenses, and small irregular-shaped bodies. Metasediments make excellent hosts for lithium-bearing pegmatites. The deposit model for the area indicates that rare-element lithium-cesium-tantalum (Li, Cs, Ta) pegmatites can fractionate up to 10km away from their parent granite (Breaks et al., 2003). 



Lilypad is directly adjacent to significant Ta Cs Rb mineralization. The closest significant mineralized outcrop on Lillypad is the JJ Dyke in adjacent property to the SE. Near the southwest edge of the property, on OGS map 992 are some small outcrops that are noted to be pegmatites. No previous drill holes or geochemistry was found in the project area. Very minimal work has been done on these projects. 



The lake sediment sampling data collected by the Ontario Geological Survey indicates that the English River Subprovince is host to lithium, yet it is vastly unexplored for LCT-pegmatites. Lake sediment lithium sample results suggest the muscovite-bearing granite is fractionating towards the northeast.

 

Terms of LOIs:



Pursuant to the terms of the LOIs, the Company was granted the right to conduct a full due diligence investigation on the Properties. This includes the right to visit the Properties and to conduct preliminary sampling and exploration work to the extent permitted by applicable mining laws. 



Upon discovery of spodumene mineralization on any of the Properties (the "Discovery"), the relevant Vendor and the Company will execute either:



a) An assignment and assumption agreement (the "Option Agreement") pursuant to which the Vendor will assign to the Company all rights and interests to the property purchase options agreements; and/or



b) A property purchase agreement (the "Purchase Agreement") pursuant to which the Vendor will grant all rights and interests in and to the Properties to Cullinan.



The considerations for the Option Agreement and/or Purchase Agreement will be negotiated between the Vendor and Cullinan immediately after the Discovery.



Marc Morin, CEO, said, "We are very excited to have entered into the LOIs. The Properties are highly prospective for lithium and also give Cullinan shareholders the opportunity of discovery across nine (9) different locations in Northwestern Ontario." Marc Morin continued, "There will be no payments or share issuances until the Discovery." 



The scientific and technical information contained in this news release has been reviewed and approved by Afzaal Pirzada, P.Geo., a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.



The transactions are arms-length transactions and will not constitute a fundamental change or result in a change of control of the Company within the meaning of the policies of the CSE.



The transactions are subject to conditions precedent including, but not limited to, completion of due diligence, entering into an Option Agreement and/or Purchase Agreement, satisfaction of the conditions negotiated therein and receipt of all necessary regulatory approvals. There can be no assurance that an Option Agreement and/or Purchase Agreement will be entered into or that an acquisition will be consummated on the terms or timeframe currently contemplated, or at all. 

 

On behalf of the Company,



CULLINAN METALS CORP.



Marc Enright-Morin



CEO



(604) 669-9788

   

About Cullinan Metals Corp.



Cullinan Metals Corp. is a Canadian mining and exploration company focused on the development of energy metals. With a strong emphasis on key energy resources such as copper, graphite, and lithium assets, Cullinan is dedicated to unlocking the potential of these resources globally.



Cautionary Statement



The information about adjacent lithium prospects and deposits in this news release is taken from publicly available information online. The Company has not been able to independently verify the information contained. The information is not necessarily indicative of the mineralization of the properties, which are subject of this news release. 



Forward-looking statements



Forward-looking information in this news release includes statements regarding assumptions that are subject to significant risks and uncertainties, including assumptions that all conditions to the closing of the proposed transactions will be satisfied and that the proposed transactions will be completed, in whole or in part, on the terms set forth in the LOIs. The forward-looking information reflects management's current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Such risk factors may include, among others, the risk that required approvals and the satisfaction of material conditions are not obtained in connection with the proposed transactions, the risk that the proposed transactions are not approved or completed on the terms set out in the LOIs or that an Option Agreement and/or Purchase Agreement will not be entered into in connection therewith.



Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. New risk factors emerge from time to time, and it is impossible for the Company's management to predict all risk factors, nor can the Company assess the impact of all factors on Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information.



The forward‐looking statements set forth herein concerning the Company reflect management's expectations as at the date of this news release and are subject to change after such date. 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, other than as required by law.



Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.<img src="https://thenewswire.com/data/tnw/clients/img/db04c7b378cb2db912c3ba8a5a774ee3_.png" />

   

Copyright (c) 2023 TheNewswire - All rights reserved.

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