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Ramp Network Launches TON On-Ramp to Transform Telegram into Web3’s Biggest Super-App

Ramp

Ramp Network (RAMP), the financial technology company building payment rails that connect the crypto economy with the global financial system, is adding an on-ramp to The Open Network (TON) blockchain ecosystem. Through this integration, millions of users of the popular Telegram messaging application will have a simple way to explore the possibilities of Web3 via TON. With the on-ramp, Ramp is making it simple for users to purchase Toncoin ($TON) quickly and securely using traditional fiat. Toncoin is the native cryptocurrency of the TON blockchain, used for network operations and transactions, and to purchase digital assets such as NFTs and Web3 gaming accessories and items. “We’re thrilled to team up with TON and open up the doors to Web3 for hundreds of millions of Telegram users. By allowing users globally to purchase TON using their local currencies and preferred payment method, we’re working with TON on a joint mission to build a decentralized future for everyone”, said Szymon Sypniewicz, CEO at Ramp. “The launch of this new on-ramp for TON’s ecosystem will build upon the wide range of existing options, enabling additional users to purchase Toncoin and discover the unique benefits of TON ecosystems' near instantaneous, borderless transactions,” said Daniel Yang, Global Business Development Lead at TON Foundation. “Ensuring that the onboarding process is seamless and that options are widely available is crucial to our commitment to accelerating the mass adoption of Web3 technology by non-native users.” Telegram users will need to acquire Toncoin to explore Web3 from within the popular messaging app, and Ramp is perfectly placed to provide a gateway to the TON ecosystem. With Ramp, users can purchase cryptocurrencies with fiat in seconds. Developers can integrate Ramp’s on-ramp into their applications, allowing users to buy Toncoin and other tokens natively. Ramp is registered as a cryptoasset business with the UK Financial Conduct Authority (FCA) and as a Money Service Business (MSB) with the US Financial Crimes Enforcement Network (FinCEN) Ramp’s on-ramp solution will play a key role in allowing the 800+ million monthly active Telegram users to onboard onto TON. It supports popular payment methods including credit and debit cards, bank transfers, Apple Pay, Google Pay and also PIX, a popular digital payment method used by approximately 70% of the population in Brazil. TON recently announced it had raised an 8-figure investment from MEXC. It has a vision of transforming Telegram into a Web3 super app, and by fulfilling this ambition it can accelerate the growth of its ecosystem and reach millions of users globally. About Ramp Network Ramp Network (RAMP) is a financial technology company building solutions that connect the crypto economy with today’s global financial infrastructure. Through its core on- and off-ramp products, Ramp provides businesses and individuals across 150+ countries and territories with a streamlined and smooth experience when converting between cryptocurrencies and fiat currencies. Ramp is fully integrated with the world’s major payment methods, including debit and credit cards, bank transfers, Apple Pay, Google Pay, and more. About The Open Network The Open Network (TON) is a global, decentralized blockchain community focused on putting crypto in every pocket. By building the Web3 ecosystem in Telegram Messenger, TON's vision is to empower 500 million users to own their digital identity, data, and assets by 2028. Learn more at https://ton.org/. Contact Details Leora Schreiber pr@marketacross.com

December 20, 2023 10:00 AM Eastern Standard Time

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This Cannabis Producer Reports It Is Able to Deliver Some Of The Highest Quality Product To Market At Some Of The Most Competitive Prices

Benzinga

By Johnny Rice, Benzinga Nicholas Sosiak, CFO of Cannara Biotech (TSXV: LOVE.V) (OTCQB: LOVFF) (FRA: 8CB) was recently interviewed by Benzinga. Cannara is a vertically integrated producer of premium‐grade cannabis and cannabis‐derivative products for the Quebec and Canadian markets. The company prides itself on delivering high-quality cannabis at some of the most competitive prices in Canada. Quebec has the cheapest energy prices in the country and allows Cannara to gain a competitive pricing edge. The company launched 70 unique SKUs in 2023 alone. Watch the full interview here: Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

December 20, 2023 10:00 AM Eastern Standard Time

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Top Lending Protocol Expands to Sui for First Launch Outside of Solana

Solend

Chainwire Solend’s expansion is set to compound Sui’s remarkable DeFi momentum, which has seen TVL grow by over 500% since September. Solend, the top lending and borrowing protocol on Solana, today announced its impending launch on the Sui blockchain, which was created by a team of technology leaders that emerged from Facebook’s blockchain initiative. This new integration marks Solend’s first deployment on a blockchain other than Solana and underscores the team’s confidence in the strength of Sui’s technology and the Sui network’s potential as a long-term partner. As the largest lending and borrowing product on Solana, Solend boasts over $140 million in total value locked (TVL) across over 170,000 users and supports over 70 assets. Solend also currently has over 20 developer integrations, making it one of Solana’s most prominent platforms for DeFi development. Expansion to Sui will introduce Solend’s robust DeFi offerings to a new community of users and bring even more builders to the Sui ecosystem. Rooter, the pseudonymous Founder of Solend, said, "We're not maximalists by any means — I left that behind when I left Ethereum. We're building on Sui for the same reason we decided to build on Solana three years ago: because they're doing something special. For Solana it was performance, for Sui it's the developer experience. The current state of smart contracts doesn't reflect the aspirations of the industry. Move fixes this. Most of the team is 100% focused on Solana, and we've spun up a sub-team dedicated to Sui." The Solend expansion news comes on the heels of Bluefin, an ascending DEX with over $100 million in daily volume, announcing they will build their V2 exclusively on Sui and unveiling their product roadmap for well into 2024. It is critical for a growing DeFi platform to secure the assets entrusted to it, and Sui is leaving no stone unturned in safeguarding its ecosystem. Security on Sui starts with the security features embedded in the Move language itself, which add a unique protection for smart contracts on Sui Further, Sui supports its developers by working with partners and leading blockchain security firms, Zellic and Ottersec, to check projects’ individual codebases. Solend’s code will benefit from their rigorous audits that will ensure that the application meets the highest security standards and is fully compatible with the Sui blockchain. At the same time, for DeFi application builders, top-tier performance in the underlying network and easy access for new users are also paramount. From a performance perspective, DeFi projects on Sui benefit from the network’s use of parallel processing for the vast majority of transactions, which results in unprecedented low latency and enables horizontal scaling. It was this same technology stack which enabled Sui to benchmark a peak throughput of up to 297,000 TPS and time to finality of ~480 milliseconds, and in just its fourth month to achieve the greatest number of transactions processed in a single day by any blockchain network ever. Likewise, for accessibility, Sui offers DeFi protocols extremely easy onboarding for new users through its native zkLogin feature which enables end users to authenticate with the same Web 2 social logins from Google, Twitch and others that they are already familiar with. Any DeFi protocol building on Sui can incorporate zkLogin, eliminating the need for new users to manage wallets and seed phrases and removing a huge hurdle to mainstream use of DeFi protocols on Sui, while still remaining non-custodial. “Solend has achieved a level of success that is unmatched by the vast majority of projects in our industry and we are thrilled to welcome them to the Sui ecosystem,” said Greg Siourounis, Managing Director of the Sui Foundation. “Sui was created with the scalability and efficiency that DeFi projects require at its core. We look forward to Solend’s continued upward trajectory building on Sui.” The Solend team brings a wealth of experience with both the Web2 and the Web3 world, with members having previously worked at industry stalwarts Coinbase, Robinhood, Cruise, Twitch, and Two Sigma. Solend is backed by a strong group of investors, including Dragonfly, Polychain, Race Capital, and Coinbase Ventures. Contact Details Sui Foundation media@sui.io

December 20, 2023 09:47 AM Eastern Standard Time

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ToolsGroup and NTT DATA Embark on New Partnership, Raising the Standard for Supply Chain Digital Transformation

ToolsGroup

ToolsGroup, a global leader in retail and supply chain planning and optimization software, and NTT DATA, a global digital business and IT services leader, have announced a new global partnership that will expand opportunities for organizations to make smart, efficient supply chain digital transformation decisions, supported by leading AI-driven technology and industry expertise. “At ToolsGroup, we are constantly looking for new ways to apply our industry-leading software to help companies navigate uncertainty,” said Mauro Adorno, ToolsGroup VP Global Alliances. “We’re deeply invested in developing AI that keeps our customers at the vanguard of supply chain best practices, and we seek out partners whose skill and expertise can only enhance our customers’ experience and success. That’s why we’re delighted to partner with NTT DATA. Together, we provide the solutions, industry know-how, and change management experience that will reshape how companies approach and achieve successful digital transformation.” The ToolsGroup-NTT DATA partnership is already bringing value to one of the largest paint distributors in the APAC region, optimizing working capital investment in inventory, enhancing customer satisfaction, and improving internal efficiencies. “NTT DATA’s supply chain consulting practice is built on fact-based strategies that leverage the analytics, expertise, and market intelligence that help organizations thrive amid volatility,” said Neelesh Asati, VP of Supply Chain Consulting, NTT DATA Services. “In ToolsGroup, we found a partner whose technological prowess and supply chain experience complements our own drive to help companies understand the impacts, nuances, and benefits of supply chain management in this new commercial landscape. We look forward to providing our mutual customers with a holistic approach to supply chain that marries technology with a people-first mentality, molding digital transformation to be a tool for success at all levels of the organization.” Both companies are also proud to be Microsoft partners, with ToolsGroup having recently won Microsoft’s Best ISV Partner Award for the third year running and NTT DATA becoming a Microsoft Global System Integrator Partner this past August. This adds further value for companies looking for top-of-the-line solutions backed by powerful collaboration from top names in supply chain and technology. For more information about the ToolsGroup partner network, click HERE. About NTT DATA NTT DATA is a $30 billion trusted global innovator of IT and business services. We help clients transform through business, technology, and supply chain consulting, industry and digital solutions, applications development and management, managed edge-to-cloud infrastructure services, BPO, systems integration and global data centers. We are committed to our clients’ long-term success and combine global reach with local client service in over 80 countries. Visit nttdata.com or LinkedIn to learn more. About ToolsGroup ToolsGroup’s innovative AI-powered solutions enable retailers, distributors, and manufacturers to navigate through supply chain uncertainty. Our retail and supply chain planning suites empower a new level of intelligent decision making and unlock powerful business improvements in forecast accuracy, service levels, and inventory - delighting customers and achieving financial and ESG KPIs. Stay in touch with ToolsGroup on LinkedIn, Twitter, YouTube, or visit www.toolsgroup.com. Contact Details Meir Kahtan +1 917-864-0800 mkahtan@rcn.com Company Website https://www.toolsgroup.com

December 20, 2023 09:30 AM Eastern Standard Time

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Top Character AI Alternative for NSFW Chat With No Filters: Candy.ai

EverAI Limited

NSFW AI chatbots have become incredibly popular, but character AI NSFW filter settings often limit users’ options. Candy.AI bucks this trend with an exciting, unfiltered chatbot that specializes in romantic conversations. The chatbot's made-for-NSFW features, smooth user interface, and cutting edge technology set a new standard in virtual intimacy. Try Candy.AI For The Best in Character AI NSFW Candy.ai’s chatbots are adaptive and personalized to the user. Instead of only having one companion, you have dozens of ready-made NSFW character AI 's that each have their own appearance and personality. You can choose one suited to your own preferences or use Candy.ai 's girl generator to make your own character AI NSFW companion. Specify any details of her appearance and personality you want to include, and the AI will do the rest. Her unique appearance isn't just an avatar, either. During your conversations, you can request custom photos down to your exact specifications and receive them in-chat. You can request audio content the same way, all without needing any technical knowledge and without leaving the chat. The images and audio are also remarkably consistent and manage to accurately recreate her unique voice, face, and personality time and time again. In all, Candy.AI offers an immersive, realistic NSFW character AI experience that few competitors can match. Your perfect girl is waiting to explore all of your fantasies with you; just head to Candy.AI. Candy.AI: The Best Character.AI NSFW Alternative While there are plenty of competitors, Candy.ai comes out as the best in NSFW AI chat. It’s dedicated to customer satisfaction, with an easy-to-use interface, great customization, and your choice of realistic girls, anime-style, or anything else. Some of its key advantages include: Unfiltered Chats: Candy.ai offers an unfiltered NSFW AI chat experience so you can explore any topic. Let your chatbot get to know you and how to satisfy you, and she'll blow your mind. Rich Personalization for Models and Art Creation: Candy.AI uses the power of machine learning and an intuitive user interface to make it easy to make your own NSFW character AI. Just point the model generator in the right direction with a few keywords to bring the girl of your fantasies to life. A Lifelike Intimate Experience: Each AI chatbot NSFW experience on Candy.ai is unique, because every persona is unique and learns as it speaks to you. You'll feel the difference with each different chatbot, or even on new conversations with the same chatbot. An Immersive Experience: Candy.ai doesn't limit you to text-based fantasies, and enriches the experience with images and audio messages on-request.. Our nsfw ai chat bots are equipped to handle requests for images or audio messages, adding depth and richness to the overall experience. New Features In Development: Candy.ai's developers are tirelessly working to add new content and features, ensuring that Candy.ai remains the best NSFW AI chat bot platform. How to Use Candy.ai NSFW AI Chatbot Engaging with Candy.ai's platform is a seamless experience. If you like one of the ready-made models, it's as easy as signing up to start chatting. Making a custom character AI NSFW model is as easy as three steps: Sign up and head to the “Create” page. Fill out a series of simple prompts and then select “Generate” to make your custom NSFW character AI chatbot. Send a message and start flirting and asking for photos with your NSFW AI chatbot. Enjoy Your Fantasies with Candy.ai's Character AI NSFW The only limits on where you can take Candy.ai's NSFW AI chats is your own imagination. The AI chatbot technology on display makes it easy to create a custom companion just for you. It’s the ultimate Character AI NSFW alternative whether you’re looking for art creation, flirting, or a partner to share deep, personal fantasies with. You can use some Candy.AI features for free, while a Premium account with unlimited access to all features costs $12.99/mo. Candy.ai FAQs Is Candy.ai a free NSFW Character AI alternative? Yes, Candy.AI offers a NSFW ai chat free experience, with paid options for enhanced features and customization. Can I enjoy character AI NSFW content on Candy.ai? Absolutely. Candy.ai has no NSFW chat AI filter settings holding you back allowing users to tailor their experience to their comfort level and preferences. Are conversations on Candy.ai secure? Yes, Candy.AI uses secure data storage and will never share your private content with third parties. Your chats, images, and audio messages are private to your account.. What makes Candy.ai unique among NSFW Character.ai alternatives? Our dedication to creating a realistic, immersive, and customizable nsfw ai chatbot experience sets us apart as the leading provider in the field. What's Candy.ai's mission? Candy.ai is dedicated to making intimacy and companionship available to anyone who needs it through NSFW Character AI experiences. Can I make NSFW character AI art on Candy.ai? Yes. You just have to head to the art generator to request custom images or ask a model for pictures of her in chat. Contact Details EverAI Limited +44 7458 107874 pr@everai.ai Company Website https://candy.ai

December 20, 2023 09:30 AM Eastern Standard Time

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Could Food Tech Usher In The Next Phase Of Transformation In Food Production, Akin To The Agricultural Revolution? Steakholder Foods (NASDAQ: STKH) Believes “Yes"

Benzinga

By Faith Ashmore, Benzinga When you look at global history, there are a few moments more significant than what is referred to as the agricultural revolution, the transformation from hunting and gathering to agriculture that catapulted humanity into what we now identify as a more modern civilization. This is largely because proper sustenance is what allows civilization to advance – without which it can come to a screeching halt with food becoming the most pressing concern. While civilization as we know it will never again be at the hunting and gathering stage, the globe is facing a food security crisis. The global population is expected to reach 9.8 billion by 2050, and as it stands, the current food production systems cannot support that many people. Scientists and politicians are turning to innovative solutions like food tech to solve rising concerns around global food insecurity. Food tech refers to the application of technology in various aspects of the food industry, including production, processing, distribution and consumption. It encompasses the use of innovative techniques, tools and infrastructure to improve efficiency, sustainability, and safety within the food supply chain. With the growing global population and increasing demand for food, food tech has the potential to revolutionize the global food supply. Many scientists firmly believe that food tech is the way of the future. Advancements such as precision farming, hydroponics and vertical farming can optimize crop yields, minimize resource consumption and reduce environmental impact. These technologies enable the growth of food in controlled environments, making it possible to cultivate crops in regions where traditional farming methods are limited by climate or land availability. But perhaps the most exciting possibility of food tech is the development of alternative protein sources, such as plant-based and lab-grown or 3-D printed meat. Sustainable and environmentally friendly protein options reduce the pressure on traditional livestock farming, which is resource-intensive and contributes to greenhouse gas emissions. Deep-tech food company Steakholder Foods Ltd. (NASDAQ: STKH) is making strides in the field of 3D-printed meat. The company has developed a state-of-the-art industrial-scale 3D bioprinter that could be poised to revolutionize meat production. The company’s core mission is to offer a diverse range of meat alternatives crafted from plant-based ingredients and 3D-printed cultivated beef, with the aim of replicating the taste and texture of traditional meat products. The company’s leadership has a rich background in other food tech start-ups and research initiatives. Yaron Kaiser, the co-founder and chairman of Steakholder Foods, brings a wealth of experience to the table. He has a successful track record of founding various deep-tech companies traded on the Nasdaq. He serves as an executive board member for multiple food-tech firms. Yaron Kaiser, alongside Steakholder Foods’ cofounder and CEO Arik Kaufman, is a founding partner of the BlueSoundWaves collective, a prestigious group led by industry icons Ashton Kutcher, Guy Oseary and Effie Epstein. Steakholder Foods also benefits from the expertise of Itamar Atzmony, the Chief Engineering Officer. With almost a decade of experience as a mechanical engineer and 3D printing expert, Itamar Atzmony brings invaluable skills to the company. His impressive background includes working at Nano Dimension, a leading provider of intelligent machines for manufacturing, and Highcon, a notable developer of digital cutting and creasing solutions for post-print processes. Mr. Atzmony's passion for food is evident as he is an avid amateur chef, showcasing his deep understanding and enthusiasm for the culinary world. Under the leadership of food tech experts, Steakholder Foods has emphasized mastering the intricacies of 3D printing technology, enabling them to create a wide variety of meats including fish and beef steaks. In September the company introduced SH Beef Steak Ink, designed to be used with the company’s fusion printer technology. SH Beef Steak Ink was launched after the company was able to successfully demonstrate its ability to 3D print fish, which was a significant step forward for this technology as the company’s milestone marked the world’s first 3D printed cultivated fish fillet. SH Beef Steak Ink's goal is realism through a design that meticulously replicates a premium beef steak's fibrous texture, appearance and taste, providing an authentic experience. As part of Steakholder Foods' vision for scalability, Beef Steak Ink aims to become an industry standard, compatible with their fusion printer and accessible to businesses in the cultivated meat sector. Food tech seems to be on the rise; Pitchbook estimated that in 2020, private equity invested $18.1 billion in 767 food tech-related companies. This compares favorably against the less than $500 million and 67 deals in 2010. Steakholder Foods is already ahead of the curve with its cutting-edge technology, and if the company continues to see success with its technology, it seems poised to cement its position as an industry leader. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

December 20, 2023 09:15 AM Eastern Standard Time

Sheaff Brock Lands A Top Ten Spot In CNBC’s FA 100 Ranking

Benzinga

By Meg Flippin, Benzinga In tumultuous times, having a trusted financial advisor can help investors weather the economic storm. But finding the right advisor can be difficult, especially with so many choices. The CNBC FA 100 list may be helpful for individuals who are looking for a financial advisor by having already evaluated a multitude of registered investment advisory (RIA) firms in the U.S., zeroing in on ones that might help clients navigate more than their investment portfolio. In today’s environment, investors need a financial advisor who provides a holistic approach, helping clients meet different goals, whether it's saving for college, buying a dream home or amassing money for retirement. When coming up with the CNBC FA 100 ranking * in partnership with data provider AccuPoint Solutions, CNBC looked at multiple factors, including the size of the firm, assets under management, the number of certified financial planners on staff, and services and specialties offered. The final list of what CNBC considers the top 100 financial advisors in the country is composed of new firms and repeat winners. Sheaff Brock, an Indianapolis, Indiana investment advisory firm, is among the latter, ranking 10th in 2023, the fourth year in a row it’s made this esteemed list. Sheaff Brock Climbs To The Top Ten "We're incredibly honored. To make the list once felt like a great achievement, and to make it for our fourth consecutive year—also selected as #10 in the U.S.—is very motivating,” said Ron Brock, co-founder and managing director. “It is certainly a testament to our team for the outstanding commitment they have to supporting our clients.” The fee-only independent investment firm, with $ 1.2 billion in assets under management as of September 30, 2023, has come a long way since first making it on CNBC’s FA 100 list in 2020 when it debuted at 95th. It has moved up the list, landing in 82nd place in 2021 and 68th in 2022. This year is a break-out one for Sheaff Brock on the list amid a year of rising interest rates, stubbornly high inflation and stock market volatility. The company’s approach includes a willingness to take on calculated risk. “We are value-oriented and we attempt to avoid undue risk. But what makes us different is that we aren′t scared of volatility as an approach to get you returns,” says Sheaff Brock on its website. The company uses “sophisticated research, technology, and data” to quantify its decision-making and equity selection, and also screens “for downside risk to help avoid stocks that may be likely to underperform.″ More Than Just Assets Under Management Noting the major role that financial advisors can play in helping investors grow and protect their wealth, CNBC states that a good advisory firm will focus on assessing their current financial situation and life goals and developing a plan to help achieve them. The CNBC ranking takes into consideration a number of other factors beyond AUM in how these firms help clients best navigate their financial lives. CNBC weighed each firm’s services and specialties in determining the FA 100, including the number of certified financial planners on staff – which is recognized as one of the industry’s top professional designations. Other data points in CNBC’s proprietary selection methodology included the firm’s longevity, the number of registered investment advisors, the number of employees, and both total assets and total accounts under management. In the current environment, many Americans believe their finances need help and feel working with an advisor can provide them the support for longer-term financial stability. The CNBC FA 100 list is compiled every year to give individual investors a starting point in their search for a financial advisor. Disclosure This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Benzinga has received cash compensation from Sheaff Brock Investment Advisors, LLC (Sheaff Brock) or Innovative Portfolios for the above endorsement. The compensation received by Benzinga is to author an article to endorse Sheaff Brock or Innovative Portfolios, its affiliate. Benzinga is not a current client of Sheaff Brock or Innovative Portfolios. There is a conflict of interest since Benzinga is receiving compensation to recommend either Sheaff Brock or Innovative Portfolios for investment advisory services. The material terms of this compensation are as follows: sponsored articles, videos, webinar, and metrics dashboard for $25,500. There is a conflict of interest in that Benzinga is being paid to endorse either Sheaff Brock or Innovative Portfolios, which would incentivize them to endorse Sheaff Brock or Innovative Portfolios over other advisers. *About CNBC Financial Advisor 100 The 2023 CNBC Financial Advisor 100 (ranked 10th, 9/12/23), 2022 CNBC Financial Advisor 100 (ranked 68th, 10/4/22), 2021 CNBC Financial Advisor 100 (ranked 82nd, 10/6/21) & the 2020 CNBC Financial Advisor 100 (ranked 95th, 10/6/20) list is an independent ranking. CNBC enlisted data provider AccuPoint Solutions to assist with the ranking of registered investment advisors for the CNBC FA 100 list. The analysis started with 40,646 RIA firms for 2023, 39,818 RIA firms for 2022, 38,302 for 2021 and 37,369 for 2020 from the Securities and Exchange Commission regulatory database. AccuPoint screened the list down to 812 RIAs for 2023, 904 RIAs for 2022, 749 for 2021 and 750 for 2020 who were required to complete a survey to be in consideration for the CNBC FA 100 list. Neither the registered investment advisor nor their employees pay a fee for the listing. Data points used by AccuPoint for the ranking included regulatory/compliance record, number of years in the business, number of certified financial planners, number of employees, number of investment advisors registered with the firm, ratio of investment advisors to total number of employees, total assets under management, percentage of discretionary assets under management, total accounts under management, number of states where the RIA is registered, and country of domicile. Third-party rankings and recognition from rating services or publications, such as the CNBC FA 100, are no guarantee of future investment success and working with a highly rated advisor does not ensure that a client or prospective client will experience a higher level of performance or results. The ranking may not reflect a client or prospective clientâs experience with the registered investment advisor. Past performance does not guarantee or indicate future results. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

December 20, 2023 09:00 AM Eastern Standard Time

Cannara Biotech Market Share Gains Result In Record-Setting Fourth Quarter

Benzinga

By Meg Flippin, Benzinga Thanks in part to market share gains and increasing demand for high-quality cannabis at an affordable price in Canada, Cannara Biotech Inc. (OTCMKTS: LOVFF), the vertically integrated producer of premium-grade cannabis and derivative product offerings, reported record growth in revenue and net income for its fourth quarter of 2023. For its fiscal fourth quarter, Montreal-based Cannara Biotech reported a more than 50% increase in net revenues, gross profits that rose 45% and adjusted EBITDA that was up 88% year-over-year. For the full year, adjusted EBITDA increased 140%, underscoring the company’s strength in its financial strategy and operational efficiency efforts. Bringing Efficiencies To The Market “Net income of $4.8 million for the fourth quarter and more than $7 million for the year showcases how the company is in expansion mode”, Cannara Biotech said when reporting earnings. During the third quarter, the company was able to activate three additional 25,000-square-foot grow zones ahead of schedule that are expected to pay off in the fourth quarter and beyond. Cannara’s one million square foot state-of-the-art Valleyfield Facility is now cultivating out of 9 of its 24 grow zones, with over 100,000 plants under cultivation between both facilities, producing over 30,000 kg of premium-grade cannabis per year. In addition to Cannara’s strength in its assets and acute focus on operational efficiencies, Cannara is also focused on innovation, bringing more than 70 new SKUs to market in 2023 driving profitability and market recognition. Cannara Biotech expects to expand its product line further to stand out in a crowded field. "Our net income growth – 89% for the quarter and over 200% for the year – signifies more than just numbers. It reflects our strategic vision and the distinct competitive edge we have as a leading Quebec-based producer,” said Zohar Krivorot, President and Chief Executive Officer when reporting earnings. “Importantly, our fourth quarter showed significant sequential growth over the third quarter of 2023, with higher revenue by 15%, operating income by 39%, Adjusted EBITDA by 23% and net income by 65%. Looking to 2024, we expect to see these figures grow even further as we continue to increase our market share across Canada.” Demand For Cannabis Growing In Canada Cannara Biotech is riding the wave of growth from the Canadian cannabis market. By 2030, it is forecast to reach $12.2 billion, growing at a CAGR of 13.4% over 2021-2030. Recreational cannabis was legalized in 2018, creating a new market that saw the entrance of several players. Growth is being driven by younger consumers who have positive attitudes about cannabis and are more likely than their older counterparts to purchase recreational cannabis. Standing out in the market is tough, given brutal climates that make it difficult to grow. Plus given the regulatory hurdles and high start-up costs, the barriers to entry and the ability to succeed in the Canadian cannabis market can be difficult to accomplish, which makes Cannara’s results positive for its investors. The company operates two huge facilities spanning over 1,650,000 square feet in Quebec, where it churns out quality cannabis products en masse using its access to low-priced utilities in the Province and lean operational structure to keep costs down. Quality = Market Share Gains Cannara’s positive cash flow position of $2.8 million at the end of the fourth quarter and $5.4 million for fiscal 2023 allows it to expand organically and continue offering high-quality cannabis products at an affordable price. The company is still at the beginning of its growth, with only 35% of its production capacity activated, and operates in only five main markets in Canada, resulting in many strategies in Cannara’s toolkit to potentially increase its revenues and market share quarter over quarter. In Ontario, Cannara gained enough market share to move up to the ninth spot and the company plans to improve that in 2024. Since launching in Alberta in May, the company has seen a 1,100% increase in product sales. In Quebec, Cannara has maintained its leadership position ranking as the third-biggest producer in the region. Meanwhile in British Columbia market share increased 60% in the fourth quarter compared to the third quarter. “These successes across various provinces underscore Cannara's growing influence in the Canadian cannabis industry. As we cement our position as a true player in the market, our trajectory is clearly set towards becoming a leader in this competitive landscape," Nicholas Sosiak, the company’s CFO said. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

December 20, 2023 09:00 AM Eastern Standard Time

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How Sprott’s Physical Uranium Trust, The Largest In The World, Works To Give Investors Access To Physical Uranium

Benzinga

By Austin DeNoce, Benzinga The energy landscape is rapidly evolving, and near the center of this transformation is uranium, a leading candidate in humanity’s quest for clean energy generation. With a burgeoning demand for greener energy solutions, many investors are turning their attention to uranium as a valuable commodity for its critical role in nuclear energy. The Sprott Physical Uranium Trust presents a unique opportunity in this space, offering investors an exchange-traded vehicle to hold physical uranium, specifically U 3 O 8, commonly referred to as "yellowcake." Sprott Physical Uranium Trust At A Glance Launched on July 19, 2021, the Trust's objective is to invest and retain most of its assets in physical uranium. From a humble beginning with a Net Asset Value (NAV) of $630 million, the Trust now boasts a NAV of more than $5 billion as of November 20, 2023, showcasing the increase in investor interest over just a couple of years. Managed by Sprott Asset Management LP and advised by WMC Energy, the trust manages more than 62,000,000 pounds of uranium. Investor Access To Physical Uranium For potential investors seeking to diversify their portfolios with physical uranium, the Sprott Physical Uranium Trust is the largest physical uranium fund in the world. The Trust units are traded in both U.S. and Canadian dollars and can be acquired through financial advisors, full-service brokers and discount brokers. This process is streamlined by Sprott Global Resource Investments, facilitating a liquid and convenient buy-and-sell experience akin to trading standard equity securities. The Mechanics Of Uranium Acquisition Per Jander, the Technical Advisor to Sprott Physical Uranium Trust, sheds light on the traditionally opaque process of uranium trading – unlike more established markets, uranium trading is heavily relationship-based, relying on established connections rather than digital exchanges. As such, Sprott leverages its industry relationships to optimize its procurement strategy, ensuring that the trust's uranium purchases are both strategic and value-driven. Behind The Scenes: Sprott's Uranium Playbook Sprott’s Trust, as the world's largest physical uranium fund, has fine-tuned its mechanism to provide investors with a direct stake in physical uranium. This includes: Strategic Advisory: Sprott Asset Management LP, with four decades of physical commodity experience, and WMC Energy, a technical advisor, bring industry expertise to guide the trust on storage and transaction matters. Secure Storage Solutions: With storage facilities spanning across North America and Europe, including major operators like Cameco Corporation (NYSE: CCJ) and Orano, Sprott ensures the safekeeping of its uranium holdings. Market Maneuvering: Sprott navigates the relationship-driven procurement landscape, balancing immediate market opportunities with long-term investment foresight. Future Outlook Of Uranium Investment The nuclear energy sector seems poised for growth, with nuclear reactors across the globe expected to double by 2050, according to the International Energy Agency (IEA). The global uranium supply gap is also expected to expand significantly through 2040. With increasing decarbonization goals and nuclear power's low land and carbon footprint, the Trust holds a key position in the market. The current geopolitical climate, emphasizing energy security, further underscores the evolving supply and demand dynamics and the potential of uranium as a key resource in the global pursuit of sustainable and secure energy solutions. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

December 20, 2023 09:00 AM Eastern Standard Time

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