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Statistics Canada released its second-quarter gross domestic product (GDP) figures on Friday (August 29). The data showed that the Canadian economy shrank 0.4 percent in the second quarter and declined 1.6 percent on an annualized basis. The decrease comes following first-quarter gains of 0.5 percent and a 2 percent annualized increase.

Much of the decrease was attributed to a 7.5 percent drop in exports compared to Q1. Canadian exports had risen 1.4 percent in the first three months of the year as US companies increased imports to get ahead of incoming tariffs.Excluding the lower costs at the pumps, CPI remained steady at 2.5 percent, the same increase as May and June.

On an industry level, new monthly data for June shows that the resource sector grew by 0.1 percent after two months of declines, primarily driven by a 2.6 percent gain in the oil and gas subsector, with oil sands extraction rising 6.4 percent over May. However, gains were offset by a 9.7 percent monthly decline in support activities for the resource sector, its largest drop in five years, led by reduced rigging and drilling activities.

South of the border, the US Bureau of Economic Analysis released its second estimate for Q2 real GDP on Thursday (August 28). The data shows that US GDP grew by 3.3 percent during the quarter, 0.3 percent higher than its advance estimate.

According to the agency, the figure reflects a decrease in imports and an increase in consumer spending. The GDP’s upward momentum was tempered by a 13.8 percent decrease in private domestic investment, marking the most significant decline since 2020, during the pandemic.

The growth follows a 0.5 percent decrease in the first quarter of 2025, which saw a significant rise in imports.

This week also saw US President Donald Trump attempt to remove US Federal Reserve Board of Governors member Lisa Cook. Trump justified the decision based on Federal Housing Finance Agency Director Bill Pulte’s claim that Cook claimed primary residence in two mortgage applications submitted weeks apart in 2021. She was confirmed to the Fed Board of Governors in May 2022.

Cook is fighting the move in court, with her lawyer stating that Trump’s unsubstantiated allegation of an event prior to Cook’s confirmation does not meet the ’cause’ required by the Federal Reserve Act to remove a governor. By the end of the day on Friday, the judge hearing the case did not reach a decision on whether to issue a temporary restraining order that would allow Cook to remain in her role during the case.

Pulte has previously made similar allegations against other prominent Democrats, including California Senator Adam Schiff, a vocal critic of Trump, and New York Attorney General Letitia James, who oversaw a civil suit against Trump that resulted in a US$500 million award.

Trump has been eager to reshape the Federal Reserve Board and has hinted that he would like to replace Chairman Jerome Powell before his term ends in 2026. Trump believes the Fed has not been acting quickly enough to lower interest rates and stimulate the economy.

Markets and commodities react

Canadian equity markets were largely unfazed by Canada’s weak GDP data. In fact, the S&P/TSX Composite Index (INDEXTSI:OSPTX) set a new record on Friday, closing the week up 1.73 percent to 28,564.45. The S&P/TSX Venture Composite Index (INDEXTSI:JX) did even better, climbing 5.36 percent to finish Friday at 829.57. The CSE Composite Index (CSE:CSECOMP) fell 0.45 percent on Friday following the StatsCan release, but gained 4.17 percent overall during the week to 166.9.

US equity markets also posted gains this week, but fell from record highs on Friday following a selloff of tech stocks. The S&P 500 (INDEXSP:INX) was up 1.19 percent to 6,460.25, while the Nasdaq 100 (INDEXNASDAQ:NDX) rose 0.99 percent to 23,415.42. Meanwhile, the Dow Jones Industrial Average (INDEXDJX:.DJI) gained 1.32 percent on the week to 45,631.73.

The gold price gained 3.19 percent this week on expectations of a September rate cut by the Federal Reserve, reaching US$3,448.15 per ounce by 4:00 p.m. EDT on Friday. Silver ended the week with a larger gain of 4.2 percent, nearly crossing the US$40 per ounce mark in morning trading before settling at US$39.74 per ounce.

Copper also saw some upward movement, gaining 1.1 percent to US$4.59 per pound. The S&P GSCI (INDEXSP:SPGSCI) commodities index posted an increase of 1.3 percent by close on Friday, finishing at 549.70.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stocks data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. Trifecta Gold (TSXV:TG)

Weekly gain: 117.24 percent
Market cap: C$23.77 million
Share price: C$0.63

Trifecta Gold is a gold exploration company focused on a portfolio of 11 properties in the Tombstone gold belt in the Yukon, Canada.

Its most advanced is its flagship Mt. Hinton gold-silver project, located near Hecla Mining’s (NYSE:HL) Keno Hill silver mine. The company’s project page indicates that vein float samples collected in January 2023 show grades of up to 273 grams per metric ton (g/t) gold.

The company has also been advancing exploration work at its Rye property, which hosts a gold-bismuth soil anomaly, as well as several gold-rich veins.

Shares in Trifecta rose this week alongside news on Thursday that the company had commenced its inaugural drill program at Rye, completing 970 meters across three holes. The announcement reported that the first hole intersected a high density of sheeted quartz veins.

The company said preliminary rock samples collected from the site earlier in 2025 returned multiple assays with greater than 5 g/t gold, including one highlight with 21.1 g/t gold and 8,550 parts per million (ppm) bismuth.

2. Consolidated Lithium Metals (TSXV:CLM)

Weekly gain: 100 percent
Market cap: C$13.98 million
Share price: C$0.04

Consolidated Lithium is an exploration and development company working to advance a portfolio of hard rock lithium projects in Quebéc, Canada.

Its most advanced asset is the Vallée lithium project, a 75/25 joint venture between Consolidated and Sayona Mining (ASX:SAY,OTCQB:SYAXF). The project is located in the Abitibi Greenstone Belt adjacent to and along strike of Sayona’s and Piedmont Lithium (NASDAQ:PLL) North American Lithium mining operation. According to the company’s project page, the Vallée property hosts multiple lithium-bearing pegmatites over a 1 kilometer strike length.

Consolidated announced on Wednesday (August 27) that it signed a letter of intent with the Government of Quebéc-owned Soquem to earn an 80 percent interest in the Kwyjibo rare earth project, located in the Côte-Nord region of the province.

Under the terms of the letter, Consolidated can earn up to an 80 percent interest in the project through two phases, in return for a combination of cash payments, shares in Consolidated and project investments.

A 2017 preliminary economic assessment for Kwyjibo reports project economics including an after-tax net present value of C$373.9 million and an internal rate of return of 17.8 percent, with a payback period of 3.6 years.

3. Electric Metals (TSXV:EML)

Weekly gain: 68.75 percent
Market cap: C$44.34 million
Share price: C$0.27

Electric Metals is a mineral development company focused on advancing its flagship North Star manganese project in Minnesota, US. According to the company, the asset is North America’s highest-grade manganese resource. It plans to produce high-purity manganese sulphate monohydrate for lithium-ion batteries.

The most recent news from Electric Metals was released on Tuesday, when it announced a preliminary economic assessment for the project. The assessment demonstrated a base-case after-tax net present value of US$1.39 billion, with an internal rate of return of 43.5 percent and a payback period of 23 months. and suggested an average annual after-tax cash flow of US$249.6 million.

The report also included an updated mineral resource estimate with an indicated resource of 7.6 million metric tons of ore grading 19.07 percent manganese, 22.33 percent iron and 30.94 percent silicon, and an inferred resource of 3.73 million metric tons of ore grading 17.04 percent manganese, 19.04 percent iron and 30.03 percent silicon.

4. Sage Potash (TSXV:SAGE)

Weekly gain: 58.33 percent
Market cap: C$31.93 million
Share price: C$0.38

Sage Potash is a potash exploration company currently working to advance its portfolio of mineral holdings in Utah’s Paradox Basin in the US.

Historic oil and gas exploration in the basin dating back a century discovered the potential for the potash beds, but they were too deep for mining methods at the time. Sage has since confirmed their presence through its own exploration.

In a revised technical report from February 2023, the company reported an inferred mineral resource estimate of up to 159.3 million metric tons of in-place sylvinite from the upper potash bed and up to 120.2 million metric tons of sylvinite from the lower potash bed.

On August 14, Sage announced that Stockwell Day had joined the company board. Day served several ministerial roles for the Canadian government under Prime Minister Stephen Harper, including as President of the Treasury Board and Minister of International Trade.

This was followed by news on Wednesday that Day had been granted 600,000 stock options at an exercise price of C$0.30 per share and would remain valid for a period of five years.

Sage’s share price spiked earlier this week after the US Government added potash in its draft of an updated list of critical minerals.

5. Kincora Copper (TSXV:KCC)

Weekly gain: 58.33 percent
Market cap: C$24.8 million
Share price: C$0.095

Kincora Copper is an exploration company operating under a project generator model and partnering with other companies to advance its portfolio, including copper-gold projects in the Macquarie Arc of New South Wales, Australia.

Among them is the Northern Junee-Narromine Belt (NJNB) land package, which is covered by a May 2024 earn-in agreement that could see AngloGold Ashanti (NYSE:AU,JSE:ANG) earn up to an 80 percent interest in the Nyngan and Nevertire licenses through AU$50 million in exploration expenditures or AU$25 million for exploration and the completion of a pre-feasibility study.

Kincora secured a second agreement with AngloGold Ashanti in April for the Nyngan South, Nevertire South and Mulla licenses with similar terms, bringing the total exploration funding to AU$100 million.

On Monday (August 25), Kincora announced results from the first drilling program at the Nyngan project, noting that assays support the potential for porphyry copper and epithermal gold, and that it saw ‘encouraging results at particularly shallow depths’ from drill targets identified by a ground gravity survey earlier this year.

Additionally, Kincora said that drilling is ongoing at the Nevertire South and Nevertire projects, with the initial program planned for seven holes and 2,150 meters.

FAQs for Canadian mining stocks

What is the difference between the TSX and TSXV?

The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.

How many mining companies are listed on the TSX and TSXV?

As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 of those being mining companies.

Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Article by Dean Belder; FAQs by Lauren Kelly.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

It’s been a busy week for Cracker Barrel Old Country Store’s marketing team.

The restaurant chain announced a rebrand and new logo last week, faced widespread criticism from social media users, including President Donald Trump, and proceeded to walk back its plan to change the logo.

In that span of time, the company lost and regained almost $100 million in market value, bringing it about back to where it started. The stock gained 8% on Wednesday.

The Cracker Barrel saga is just the latest example of a consumer-facing company making big branding decisions, then pulling back after alienating its customer base.

“It’s very tricky to be a brand for everyone today,” Carreen Winters, president of reputation at the global public relations firm MikeWorldWide, said in an interview. “Legacy brands are particularly tricky, because you have to figure out what is cherished and authentic from the old and marry it with the new.

“In Cracker Barrel’s case, they’re trying to attract a new, younger customer [which] is no longer sufficient,” she continued. “You need to actually think about all of your stakeholders and how they will react, respond, feel about what you’re doing or the direction you’re taking. And you need to be sure that what you’re doing is consistent with shared values.”

Rebranding failures are not a new phenomenon. One of the most famous marketing blunders of all time happened in 1985 when the Coca-Cola company introduced “New Coke” with a new formula. After a firestorm of outrage from its customers, the company returned to its classic formula a few months later.

But social media has made backlash from consumers faster and more widespread, meaning businesses are usually quicker to walk back on their branding failures.

In 2010, retailer Gap ditched its decades-old blue box logo for a more minimalist design. It faced intense backlash on social media through thousands of engagements and, within less than a week, the company said it was reverting to its original logo.

More recently in May, Warner Bros. Discovery announced its streaming platform would undergo another name change, after switching from HBO to HBO Max to Max and then back again to HBO Max.

Major rebrands don’t always go awry. For example, Kentucky Fried Chicken successfully rebranded to KFC in 1991. Its customers already used the acronym and the rebrand signified that the restaurant chain offers more than just fried chicken.

Dunkin’ Donuts also successfully underwent its name change to Dunkin’ in 2019. It did face some criticism from its loyal customers at the time, but Winters said today the “Dunkin’” name and branding are widely accepted over its original name.

“Dunkin’ rebranded in accordance with the behavior that the customer created,” she said. “It aligned with their strategy of being more than Donuts and really building their coffee business.”

She also mentioned IHOP as an example of a brand that has been able to freshen up its look and stay relevant in culture. She said IHOP’s change has been an “evolution, not a revolution.”

Beth LaGuardia Cooper, chief marketing officer at Advantage, The Authority Company, added during an interview that Starbucks had subtle changes to its logo over time, which allowed it to hold the base of its identity close.

While some social media users disliked Cracker Barrel’s new branding simply because they said it lacked substance and was too “sterile” or “soulless,” others, especially conservatives, claimed the new logo leaned into “wokeness” and diversity efforts.

Cracker Barrel is widely considered a classic American restaurant chain. It began in Tennessee in 1969 and its branding evokes Southern charm and nostalgia for its consumer base.

Eric Schiffer, chairman of the firm Reputation Management Consultants, said the new branding, without the iconic “Uncle Herschel” figure, suggested to conservatives that having a white man featured on the logo was wrong or politically incorrect.

He said that pushback represents a larger trend where conservatives are feeling under attack by diversity, equity and inclusion efforts.

“I think the perspective of conservatives is, don’t ruin Cracker Barrel with the Bud Light meets Jaguar marketing playbook,” said Schiffer, adding that those brands “attempted to disrupt positively and what they did was they nuked brand sentiment and shareholder confidence.”

In November, Tata Motors-owned Jaguar Land Rover announced a rebrand that removed its “leaper” big cat imagery from its logo and changed the brand’s font. Its new promotional materials included brightly dressed models, but no cars. The brand faced significant pushback, including tens of thousands of responses on social media.

Elon Musk criticized the company on X at the time, asking Jaguar’s official account: “Do you sell cars?”

Earlier this month, Trump piped in with his insults, calling Jaguar’s ad campaign “stupid” and “seriously WOKE.”

The Telegraph reported in May that Jaguar was searching for a new advertising agency after the public backlash.

Similarly, Anheuser-Busch InBev’s Bud Light faced heavy criticism from conservatives in 2023 after a collaboration between the beer brand and social influencer Dylan Mulvaney, who is transgender.

“If you’re trying to be a tough, male-focused, football fan-oriented beer, the last thing you want to do is put the wrong spokesperson in front of the brand,” Schiffer said. “It will turn off that audience and it allows competitors to capture that market share.”

“The throughline in all of this is, don’t rip apart and disrespect audiences that brought you to the dance,” Schiffer said. “Find a way, if you’re going to want to expand, do it in a way that doesn’t cut at the core of what the brand stands for — and in the process, create cognitive dissonance and blow up market cap.”

Branding experts told CNBC that at the end of the day, people are talking about Cracker Barrel, which is a win for the company by itself.

“Everybody loves a comeback in America,” LaGuardia Cooper said. “So I would root for them to make this happen, make something good out of it.”

This post appeared first on NBC NEWS

The de minimis exemption, an obscure trade law provision that has simultaneously fueled and eroded businesses across the globe, officially came to an end on Friday following an executive order by President Donald Trump.

For nearly a decade, shipments valued under $800 were allowed to enter the country virtually duty free and with less oversight. Now, those shipments from the likes of Tapestry, Lululemon and just about any other retailer with an online presence will be tariffed and processed in the same way that larger packages are handled.

In May, Trump ended the exemption for goods coming from China and Hong Kong, and on July 30 he expanded the rollback to all countries, calling it a “catastrophic loophole” that’s been used to evade tariffs and get “unsafe or below-market” products into the U.S.

The de minimis exemption had previously been slated to end in July 2027 as part of sweeping legislation passed by Congress, but Trump’s executive order eliminated the provision much sooner, giving businesses, customs officials and postal services less time to prepare.

“The ending of that under-$800-per-person-per-day rule, from a global perspective, is about to probably cause a bit of pandemonium,” said Lynlee Brown, a partner in the global trade division at accounting firm EY. “There’s a financial implication, there’s an operational implication, and then there’s pure compliance, right? Like, these have all been informal entries. No one’s really looked at them.”

Already, the sudden change has snarled supply chains from France to Singapore and led post offices across the world to temporarily suspend shipments to the U.S. so they can ensure their systems are updated and able to comply with the new regulations.

It’s forced businesses both large and small to rethink not just their supply chains, but their overall business models, because of the impact the change could have on their bottom lines — setting off a panic in board rooms across the country, logistics experts said.

“Obviously it’s a big change for operating models for companies, not just the Sheins and the Temus, but for companies that have historically had e-com and brick-and-mortar stores,” Brown said.

The change also means consumers, already are under pressure from persistent inflation and high interest rates, could now see even higher prices on a wide range of goods, from Colombian bathing suits to specialty ramen subscription boxes shipped straight from Japan.

The end of de minimis could cost U.S. consumers at least $10.9 billion, or $136 per family, according to a 2025 paper by Pablo Fajgelbaum and Amit Khandelwal for the National Bureau of Economic Research. The research found low-income and minority consumers would feeling the biggest impact as they rely more on the cheaper, imported purchases.

Popularized by Chinese e-tailers Shein and Temu, use of the de minimis exemption has exploded in the last decade, ballooning from 134 million shipments in 2015 to over 1.36 billion in 2024. Prior to the recent change to limit its use, U.S. Customs and Border Protection said it was processing over 4 million de minimis shipments into the country each day.

A 2023 House report found more than 60% of de minimis shipments in 2021 came from China, but because the packages require less information than larger containers, very little information is known about their origins and the types of goods they contain. That opacity is one of the key reasons why both former President Joe Biden and Trump sought to curtail or end the exemption.

Both administrations have said the exemption was overused and abused and that it’s made it difficult for CBP officials to target and block illegal or unsafe shipments coming into the U.S. because the packages aren’t subject to the same level of scrutiny as larger containers.

“We didn’t have any compliance information … on those shipments, and then that is where the danger of drugs and whatnot being in those shipments” comes in, said Irina Vaysfeld, a principal in KPMG’s trade and customs practice.

The Biden administration particularly focused on how the exemption allowed goods made with forced labor to make it into the country in violation of the Uyghur Forced Labor Protection Act. Meanwhile, Trump has said the exemption has been used to ship fentanyl and other synthetic opioids into the U.S. In a fact sheet published on July 30, the White House said 90% of all cargo seizures in fiscal 2024, including 98% of narcotics seizures and 97% of intellectual property rights seizures, originated as de minimis shipments.

Across the globe, it’s common for countries to allow low-value shipments to be imported duty-free as a means to streamline and facilitate global trade, but typically, it’s for packages valued around $200, not $800, said EY’s Brown.

Until 2016, the U.S.’s threshold for low-value shipments was also $200, but it was changed to $800 when Congress passed the Trade Facilitation and Trade Enforcement Act, which sought to benefit businesses, U.S. consumers and the overall U.S. economy, according to the Congressional Research Service. It said higher thresholds provide a “significant economic benefit” to both business and shoppers and thus, the overall economy.

While well-intentioned, the law came with unintended consequences, said Brown.

The “rise in value, from $200 to $800, just made it kind of like a free for all to say, OK, everything come in,” she said.

Eventually companies designed supply chains around the exemption: They set up bonded warehouses, where duties can be deferred prior to export, in places like Canada and Mexico and then imported goods in bulk to those regions before sending them across the border one by one, duty free, as customer orders rolled in, said Brown.

“Companies have really laid out their supply chain in a very specific way [around de minimis] and that’s really the crux of the issue,” said KPMG’s Vaysfeld. “The way that the supply chain has been laid out now may need to change.”

Until the rise of Shein and Temu, the de minimis exemption was rarely discussed in retail circles. Soon, the e-commerce behemoths began facing widespread criticism for their use of what many called a loophole.

In 2023, the House Select Committee on the Chinese Communist Party released a report on Shein and Temu and said the two companies were “likely responsible for more than 30 percent of all packages shipped to the United States daily under the de minimis provision, and likely nearly half of all de minimis shipments to the U.S. from China.”

The revelation sparked widespread consternation among retail executives, lobbyists and government officials who said the companies’ use of the exemption was unfair competition.

However, behind closed doors, companies large and small began mimicking the same model after realizing how it could reduce the steep costs that come along with selling goods online.

Direct-to-consumer companies that only have online presences have relied on it more heavily, so much so that their businesses may not work without it, said Vaysfeld.

“Some of the companies we’ve spoken to, they’ve modeled out, if the tariffs continue for one year, for two years, how does that impact their profitability, and they know how long they can last,” said Vaysfeld. “These aren’t the huge companies, right? These are the smaller companies … Depending on what country they’re sourcing from or where they’re manufacturing, it could really impact their profitability that they can’t stay in business for the long term.”

While smaller, digital companies are more exposed, “pretty much most companies that you can think of” had been using the exemption in some form before it ended, said Vaysfeld.

Take Coach and Kate Spade’s parent company Tapestry: About 13% to 14% of the company’s sales were previously covered under de minimis and will now be subject to a 30% tariff, according to an estimate by equity research firm Barclays.

On the company’s earnings call earlier this month, Chief Financial Officer Scott Roe said tariffs will hit its profits by a total of $160 million this year, including the impact of the end of de minimis. That amounts to about 2.3% of margin headwind, he said.

Shares of the company fell nearly 16% the day that Tapestry reported the profit hit.

In a statement, Roe said Tapestry used de minimis to help support its strong online business, adding it is a practice that “many companies with sophisticated supply chains have been doing for years.”

To help offset its termination, he said Tapestry is looking for ways to reduce costs and is leaning on its manufacturing footprint across many different countries.

Canadian retailer Lululemon is another company that uses de minimis, according to Wells Fargo. Last week, the bank cut its price target on the company’s stock from $225 to $205, citing the end of de minimis. In the note, Wells Fargo analyst Ike Boruchow said the equity research firm sees a potential 90 cent to $1.10 headwind to Lululemon’s earnings per share from the de minimis elimination.

Lululemon declined to comment, citing the company’s quiet period ahead of its reporting earnings.

The National Retail Federation, the industry’s largest trade organization, has not taken a position in favor of or against the exemption. It has members who both supported and opposed the policy, said Jonathan Gold, vice president of supply chain and customs policy at NRF.

Retailers of all sizes, including independent sellers with digital storefronts, have used the approach as “a convenient way to get products to the consumer” for less, Gold said.

“Their costs are going to go up and those costs could be passed on to the consumer at the end of the day,” Gold said.

The most acute impact of the end of de minimis is expected to be felt on online marketplaces where millions of small businesses sell goods like Etsy, eBay and Shopify and used de minimis to defray costs when sending online orders from other parts of the globe to the U.S.

American shoppers have gotten used to buying artwork, coffee mugs, T-shirts and other items from merchants outside the country without paying duties. With that tariff exemption gone, consumers could face higher costs and a more limited selection of items to choose from.

Etsy, eBay and some other retailers sought to defend the loophole prior to its removal, submitting public comments on proposed de minimis regulation by the CBP. An eBay public policy executive said the company was concerned that restrictions to de minimis “would impose significant burdens on American consumers and importers.”

Etsy’s head of public policy, Jeffrey Zubricki, said the artisan marketplace supports “smart U.S. de minimis reform,” but that it was wary of changes that could “disproportionately affect small American sellers.”

“These exemptions are a powerful tool that help small creators, artisans and makers participate in and navigate cross-border trade,” Zubricki wrote in a March letter to CBP.

An Etsy spokesperson declined to comment on the policy change. Etsy CFO Lanny Baker said at a Bernstein conference in May that transactions between U.S. buyers and European sellers comprise about 25% of the company’s gross merchandise sales.

EBay didn’t immediately provide a comment in response to a request from CNBC. The company warned in its latest earnings report that the end of de minimis outside of China could impact its guidance, though CEO Jamie Iannone told CNBC in July that he believes eBay is generally “well suited” to navigate the shifting trade environment.

Some eBay and Etsy sellers based in the UK, Canada and other countries are temporarily closing off their businesses to the U.S. as they work out a plan to navigate the higher tariffs. Blair Nadeau, who owns a Canadian bridal accessories company, was forced to take that step this week.

“This is devastating on so many levels and millions of small businesses worldwide are now having their careers, passions and livelihoods threatened,” Nadeau wrote in an Instagram post on Tuesday. “Just this past hour I have had to turn away two U.S. customers and it broke my heart.”

Nadeau sells her bespoke wedding veils, jewelry and hair adornments through her own website and on Etsy, where 70% of her customer base is in the U.S. The de minimis provision had been a “lifeline” for many Canadian businesses to get their products in the hands of American consumers, Nadeau said in an interview.

“This is really hitting me,” Nadeau said. “It’s like all of a sudden 70% of your salary has been removed overnight.”

In the absence of de minimis, online merchants are faced with either paying import charges upfront and potentially passing those costs on to shoppers through price hikes, or shipping products “delivery duty unpaid,” in which case it’s the customer’s responsibility to pay any duties upon arrival.

Alexandra Birchmore, an artist based in the Cotswolds region of England, said she expects to raise the price of her oil paintings on Etsy by 10% as a result of paying the duties upfront.

“At the moment every small business forum I am on is in chaos about this,” Birchmore said. “It looks to me to be a disaster where no one benefits.”

The disruption could end up being a boon for the likes of Amazon and Walmart. U.S. consumers may turn to major retailers if they face steeper prices elsewhere, as well as potential shipping delays due to backlogs or other issues at the border.

Amazon, in particular, has already proven resilient after the U.S. axed the de minimis provision for shipments from China and Hong Kong in May. The company’s sales increased 13% in the three-month period that ended June 30, compared with 10% growth in the prior quarter. Amazon’s unit sales grew 12%, an acceleration from the first quarter.

Both Amazon and Walmart have fulfillment operations in the U.S. that allow overseas businesses to ship items in bulk and store them in the companies’ warehouses before they’re dispatched to shoppers. Shein and Temu largely eschewed the model in the past in favor of the de minimis exception, but they’ve since moved to open more warehouses in the U.S. in the wake of rising tariffs.

Since the exemption ended on Chinese imports in May, the impact on Shein and Temu has been swift. Temu was forced to change its business model in the U.S. and stop shipping products to American consumers from Chinese factories.

The end of de minimis, as well as Trump’s new tariffs on Chinese imports, also forced Temu to raise prices, reign in its aggressive online advertising push and adjust which goods were available to American shoppers.

The Financial Times reported on Tuesday that Temu has resumed shipping goods to the U.S. from Chinese factories and will also increase its advertising spend following what it called a “truce” between Washington and Beijing.

Temu didn’t return a request for comment.

Meanwhile, Shein has been forced to raise prices and daily active users on both platforms in the U.S. have fallen since the de minimis loophole was closed, CNBC previously reported. Temu’s U.S. daily active users plunged 52% in May versus March, while Shein’s were down 25%, according to data shared with CNBC by market intelligence firm Sensor Tower.

This post appeared first on NBC NEWS

The Trump administration’s latest allegations of mortgage fraud have raised questions about a long-standing housing issue known as owner-occupancy mortgage fraud. But that type of fraud can be difficult to prove, experts say.

President Donald Trump announced in a Truth Social post on Monday night that he was removing Federal Reserve Governor Lisa Cook. He cited allegations made by Federal Housing Finance Agency Director Bill Pulte that Cook committed mortgage fraud by claiming homes in two different states as her primary residence at the same time.

Cook’s attorney on Tuesday said Cook will file a lawsuit to challenge her removal.

“President Trump has no authority to remove Federal Reserve Governor Lisa Cook,” the lawyer, Abbe Lowell, said in a statement.

The Department of Justice has also recently targeted Sen. Adam Schiff, D-Calif., and New York Attorney General Letitia James with similar mortgage fraud allegations.

Here are the key things to know about owner-occupancy mortgage fraud, according to experts.

The main reason a borrower could be motivated to claim a primary residence on a mortgage application is to get a lower interest rate for that home.

Typically, mortgages for a primary residence have lower interest rates and homeowner’s insurance costs, said Keith Gumbinger, vice president of mortgage website HSH.

Mortgage interest rates are generally 0.5% to 1% higher for investment properties than for primary homes, according to Bankrate. Homeowners also typically pay about 25% more for insurance as a landlord compared with a standard homeowners policy, according to the Insurance Information Institute.

Owner-occupied means “you’re going to live there the majority of the time,” Gumbinger said. But there are limited exceptions, including for military service, parents providing housing for a disabled adult child or children providing housing for parents, according to Fannie Mae.

If a homeowner changes primary residences, they need to inform their mortgage lender that the original property is no longer owner-occupied, Gumbinger said.

There are also federal and state tax benefits for primary residences, according to Albert Campo, a certified public accountant and president of Campo Financial Group in Manalapan, New Jersey.

For example, when an owner sells a home and makes a profit, they can take a capital gains exemption worth up to $250,000 for single filers or $500,000 for married couples filing jointly, as long as they meet certain IRS rules, including owner occupancy for two of the past five years.

For tax purposes, a homeowner can have only one primary residence at a time.

When a taxpayer owns more than one home, proving which one is the primary residence is “always based on facts and circumstances,” Campo said. For example, a primary residence is typically where an owner spends most of their time, votes, files their tax returns and receives mail, he said.

A 2023 report from the Federal Reserve Bank of Philadelphia found that more than 22,000 “fraudulent borrowers” misrepresented their owner-occupancy status, out of 584,499 loans originated from 2005 to 2017. The data was based on a subsample from more than 15 million loans originated during this period.

Typically, the fraudulent borrowers took out larger loans and had higher mortgage default rates, the authors found.

However, this type of fraud may be “difficult to detect until long after the mortgage has been originated,” the authors wrote.

“There is a difference between the court of law and the court of public opinion,” Jonathan Kanter, a law professor at Washington University in St. Louis and a former assistant attorney general, told CNBC’s “Squawk Box” last week when asked about Cook. “In the court of law, this is small ball and very difficult to prove.”

“You’d have to establish not only that she filled out the form incorrectly, but she had the specific intent to deceive, to defraud banks, as opposed to just making a mistake,” he said.

During fiscal year 2024, 38 mortgage fraud offenders were sentenced in the federal system, according to the United States Sentencing Commission’s interactive data analyzer. That number is up slightly from 34 offenders in 2023, but down from 426 offenders in 2015, the earliest date in that tool’s dataset. The U.S. Sentencing Commission data does not break out the types of mortgage fraud.

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The Trump administration’s latest allegations of mortgage fraud have raised questions about a long-standing housing issue known as owner-occupancy mortgage fraud. But that type of fraud can be difficult to prove, experts say.

President Donald Trump announced in a Truth Social post on Monday night that he was removing Federal Reserve governor Lisa Cook. He cited allegations made by Federal Housing Finance Agency Director Bill Pulte that Cook committed mortgage fraud by claiming homes in two different states as her primary residence at the same time.

Cook’s attorney on Tuesday said Cook will file a lawsuit to challenge her removal.

“President Trump has no authority to remove Federal Reserve Governor Lisa Cook,” the lawyer, Abbe Lowell, said in a statement.

The Justice Department has also recently targeted Sen. Adam Schiff, D-Calif., and New York Attorney General Letitia James with similar mortgage fraud allegations.

Here are the key things to know about owner-occupancy mortgage fraud, according to experts.

The main reason a borrower could be motivated to claim a primary residence on a mortgage application is to get a lower interest rate for that home.

Typically, mortgages for a primary residence have lower interest rates and homeowner’s insurance costs, said Keith Gumbinger, vice president of mortgage website HSH.

Mortgage interest rates are generally 0.5% to 1% higher for investment properties than for primary homes, according to Bankrate. Homeowners also typically pay about 25% more for insurance as a landlord compared with a standard homeowners policy, according to the Insurance Information Institute.

Owner-occupied means “you’re going to live there the majority of the time,” Gumbinger said. But there are limited exceptions, including for military service, parents providing housing for a disabled adult child or children providing housing for parents, according to Fannie Mae.

If a homeowner changes primary residences, they need to inform their mortgage lender that the original property is no longer owner-occupied, Gumbinger said.

There are also federal and state tax benefits for primary residences, according to Albert Campo, a certified public accountant and president of Campo Financial Group in Manalapan, New Jersey.

For example, when an owner sells a home and makes a profit, they can take a capital gains exemption worth up to $250,000 for single filers or $500,000 for married couples filing jointly, as long as they meet certain IRS rules, including owner occupancy for two of the past five years.

For tax purposes, a homeowner can have only one primary residence at a time.

When a taxpayer owns more than one home, proving which one is the primary residence is “always based on facts and circumstances,” Campo said. For example, a primary residence is typically where an owner spends most of their time, votes, files their tax returns and receives mail, he said.

A 2023 report from the Federal Reserve Bank of Philadelphia found that more than 22,000 “fraudulent borrowers” misrepresented their owner-occupancy status, out of 584,499 loans originated from 2005 to 2017. The data was based on a subsample from more than 15 million loans originated during this period.

Typically, the fraudulent borrowers took out larger loans and had higher mortgage default rates, the authors found.

However, this type of fraud may be “difficult to detect until long after the mortgage has been originated,” the authors wrote.

“There is a difference between the court of law and the court of public opinion,” Jonathan Kanter, a law professor at Washington University in St. Louis and a former assistant attorney general, told CNBC’s “Squawk Box” last week when asked about Cook. “In the court of law, this is small ball and very difficult to prove.”

“You’d have to establish not only that she filled out the form incorrectly, but she had the specific intent to deceive, to defraud banks, as opposed to just making a mistake,” he said.

During fiscal year 2024, 38 mortgage fraud offenders were sentenced in the federal system, according to the United States Sentencing Commission’s interactive data analyzer. That number is up slightly from 34 offenders in 2023, but down from 426 offenders in 2015, the earliest date in that tool’s dataset. The U.S. Sentencing Commission data does not break out the types of mortgage fraud.

This post appeared first on NBC NEWS

Here’s a quick recap of the crypto landscape for Wednesday (August 27) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$112,039, a 1 percent increase in 24 hours. Its lowest valuation of the day was US$111,198 and its highest price on Wednesday was US$112,555.

Bitcoin price performance, August 27, 2025.

Chart via TradingView.

Bitcoin has come under pressure in recent days, briefly sliding below US$110,000 amid a broader crypto sector selloff and macroeconomic uncertainty. Trading at its lowest level in seven weeks, the drop has sparked debate among investors over whether the pullback presents a buying opportunity.

Ether (ETH) was priced at US$4,569.50, down by 0.5 percent over the past 24 hours to its lowest valuation of the day. Its highest was US$4,657.28.

Altcoin price update

  • Solana (SOL) was priced at US$26.86, up by 5 percent. Its lowest valuation on Wednesday was US$203.35, and its highest valuation was US$211.54.
  • XRP was trading for US$3, down by 1.6 percent in the past 24 hours, and at its lowest valuation of the day. Its highest valuation on Wednesday was US$3.04.
  • SUI (Sui) was trading for US$3.47, down by 0.1 percent in the past 24 hours. Its lowest valuation of the day was US$3.44, and its highest level of the day was US$3.51.
  • Cardano (ADA) was priced at US$0.8629, down by 1.1 percent. Its lowest valuation for Wednesday was US$0.8571, and its highest valuation was US$0.8751.

Today’s crypto news to know

ETH inflows hit US$1.3 billion following Powell’s policy hints

ETH funds have seen a massive US$1.3 billion worth of inflows over the past week as traders respond to dovish signals from US Federal Reserve Chair Jerome Powell. Data from SoSoValue shows ETH-based exchange-traded products have absorbed US$3.7 billion since June, compared with US$900 million in outflows from Bitcoin funds.

The surge also coincides with ETH hitting a new all-time high of US$4,955 on Sunday (August 24).

Publicly listed companies joined the rush too, adding ETH to their corporate treasuries and pushing collective holdings to nearly 5 percent of total supply. That accumulation rate is running at more than twice the fastest quarterly pace Bitcoin has ever seen, according to Standard Chartered’s (LSE:STAN) Geoffrey Kendrick via DLNews.

Trump Media, Crypto.com seal US$6.4 billion CRO treasury deal

Trump Media & Technology Group shares climbed 5 percent on Tuesday (August 26) after the company confirmed a US$6.42 billion partnership with Crypto.com to launch a CRO-focused treasury vehicle.

Dubbed the Trump Media Group CRO Strategy, the new entity will be seeded with US$1 billion in CRO and its balance will be structured as an equity line for future token purchases. As part of the agreement, the company will operate a validator node on the Cronos blockchain, staking all its tokens to earn network rewards. CRO prices soared 30 percent in a single day after the announcement, even as most of the crypto market lagged.

Still, the deal has stirred controversy among token holders, as it requires reissuing 70 billion CRO previously “burned” to reduce supply, effectively inflating circulation by more than 200 percent.

CRO jumped 40 percent on the announcement and was up by over 25 percent over 24 hours at the time of writing.

Canary Capital files for first spot ETF tracking Trump meme coin

Crypto fund manager Canary Capital has submitted paperwork to launch the first spot exchange-traded fund (ETF) tied directly to US President Donald Trump’s meme coin, $TRUMP, according to a Reuters report.

Unlike earlier applications filed under the 1940 Investment Company Act, Canary’s proposal was lodged under the 1933 Securities Act, meaning the ETF would hold $TRUMP tokens outright rather than use offshore subsidiaries or cash equivalents. The application comes despite skepticism from analysts, who note that the US Securities and Exchange Commission (SEC) typically requires a futures ETF to trade for six months before approving a spot product.

The filing follows the SEC’s February announcement that meme coins fall outside its securities jurisdiction, a decision seen as aligning with the president’s pro-crypto stance.

The $TRUMP token has lost more than 70 percent of its value since launching in January. Analysts expect the SEC to rule on several meme coin ETF applications later this year.

DeFi industry coalition advocates for developer protections

The DeFi Education Fund and a coalition of more than 110 crypto companies, investors and advocacy groups sent a letter to the Senate Banking and Agriculture Committees on Wednesday, urging lawmakers to update financial rules to ensure developers and non-custodial actors are not misclassified as intermediaries. The signatories include major players in the DeFi space, such as Coinbase Global (NASDAQ:COIN), Kraken, Ripple, a16z and Uniswap Labs.

“Provide robust, nationwide protections for software developers and non-custodial service providers in market structure legislation,” the letter reads. “Without such protections, we cannot support a market structure bill.”

CFTC to integrate Nasdaq Market Surveillance platform

The Commodity Futures Trading Commission (CFTC) announced on Wednesday that it plans to integrate Nasdaq’s Market Surveillance platform, a financial surveillance tool developed by Nasdaq.

“As our markets continue to evolve and integrate new technology, it’s critical that the CFTC stays ahead of the curve,” acting CFTC Chair Caroline Pham said in a press release. “Nasdaq Market Surveillance will, for the first time, provide the CFTC with automated alerts and cross-market analytics that will benefit each of the CFTC’s operating divisions and better protect our markets from fraud, manipulation and abuse.”

The CFTC asserts that using the platform will allow the agency to more efficiently analyze market trends and spot unusual trading activity, enabling staff to take quicker action against bad actors.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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(TheNewswire)

Prismo to Host Webinar on September 3rd

Vancouver, British Columbia, August 27, 2025 TheNewswire – Prismo Metals Inc. (the ‘ Company ‘) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to provide an update on ongoing exploration work at the Silver King mine. The exploration work currently in progress has resulted in the identification of two previously undescribed veins with mineralogical characteristics similar to those at Silver King (Fig. 1).  Preliminary analysis with a portable XRF instrument shows the mineralization contains lead, silver, copper and zinc. A first batch of samples has been submitted to the lab, with results expected in the coming weeks.

‘During reconnaissance work, we have been working on understanding the controls of mineralization at the Silver King mine,’ stated Dr. Craig Gibson, Chief Exploration Officer of the Company. ‘Two previously undescribed veins were discovered (Figure 1.), including one at a large mine dump about 300 meters south of the Silver King mine shaft. We believe this may have been the location of significant silver production. Several veins and prospect pits occur 300 meters along strike to the NE to a point near the Silver King glory hole. Of particular note, this is the first time we have observed mineralization similar to the Silver King deposit outside of the historic mine and so it provides an exciting new exploration target.’


Click Image To View Full Size

Figure 1 . The Silver King with exploration advances.  The red line represents the trace
of a quartz vein with silver-copper-lead-zinc mineralization in a previously undescribed vein.
The green line represents a quartz vein with copper mineralization with silver values.

He added: ‘The stockpile of vein materials is located above an area that was used to smelt the sulfide ore, and numerous conical shaped pieces of slag, with the pointed tips that would have contained the concentrated metals removed. Examination of a collapsed mine portal showed the presence of quartz veinlets containing sulfide minerals, mainly sphalerite, galena and tetrahedrite.’

Initial work at the Silver King project has consisted of a property wide survey of the historic mines and prospects, as well as a geochemical and alteration mineral survey around the surface expression of the Silver King deposit and other mineral occurrences. The Silver King deposit is located a few kilometers from the Resolution Copper deposit (a joint venture between Rio Tinto and BHP) and the high-grade Magma mine, a former copper and silver producer. Mineralization at Silver King is hosted by the same rock sequence that hosts the Resolution Copper deposit, but which is exposed at the surface and is not covered by the thick sequence of volcanic rocks that covers Resolution Copper.

Prismo plans to complete the current exploration program in September and conduct a preliminary exploration drill program upon obtaining its drill permit. The Company has submitted a plan of operations for the drill program with the Forest Service. Work is ongoing to further define the controls on mineralization at the historic mine. It is also expected that access to the historic workings on the 114 level of the mine will be achieved shortly.

‘Having toured the Silver King mine site (along with the Ripsey mine) with Chief Exploration Officer Craig Gibson in early August, the prevalence and scale of the historic and current producing mines in the district was truly impressive,’ stated Gordon Aldcorn, President. ‘Acquiring a past producing mine with virtually no modern exploration in such close proximity to other world class deposits is a rare opportunity for Prismo Metals.’

On July 4, 2025, the Company announced that it had signed option agreements to acquire 100% interest in the Silver King and Ripsey mines — both historic high-grade precious and base metal mines located in Arizona’s prolific Copper Belt near its flagship Hot Breccia project.  A crew led by Dr. Craig Gibson, Chief Exploration Officer of the Company, has been working at the project since Aug 4.


Click Image To View Full Size

Figure 2 . Top image , vein fragments from newly recognized target.
Bottom image , cone of slag with tip removed.

Webinar

Prismo is pleased to invite investors and other interested parties to attend the Company’s upcoming live webinar presentation, audience Q&A and interview.

CEO Alain Lambert and Chief Exploration Officer Dr. Craig Gibson will discuss Prismo’s three advanced-stage exploration projects.

The webinar will be a live, interactive online event where attendees can ask the presenters questions in real time. A recording will be available for those who cannot join the live event.

Event : Radius Research Pitch, Deep Dive, and Q&A with Prismo Metals Inc.

Presentation Date & Time : Wednesday, September 3rd @ 4 PM ET / 1 PM PT

Webcast Registration Link: https://us02web.zoom.us/webinar/register/6817562353172/WN_VYgFeEN9QQqfctchdJ4ACQ

This webinar will be hosted by Radius Research, giving individual investors access to in-depth CEO interviews with deep-dive institutional-level discussion and Q&A. Radius Research is part of Market Radius Capital, Inc. and hosted by Martin Gagel, a former top-ranked sell-side technology and special situations analyst.

About Silver King

Discovered in 1875, the Silver King mine is one of Arizona’s most important historical producers, yielding nearly 6 million ounces of silver at grades of up to 61 oz/t. Selected samples from small-scale production in the late 1990s returned historical grades as high as 644 oz/t silver (18,250 g/t) and 0.53 oz/t gold (15 g/t). Additionally, the presence of freibergite (AgCuSbS) suggests a potential for antimony, a critical mineral with growing strategic demand.

Strategic Location

The Silver King mine sits only 3 km from the main shaft of the Resolution Copper project — a joint venture between Rio Tinto and BHP and recognized as one of the world’s largest unmined copper deposits. (1) This unique land position is fully surrounded by Resolution Copper’s claim block, offering strategic upside.

The Silver King mine was discovered in 1875 and produced as much as 10,000 ounces per ton silver in near surface workings. (2) Underground production through 1889 is estimated at almost 6 million ounces of silver at grades of between 61 and 21 ounces per ton. During a second period of production from 1918 to 1928, 230,000 ounces were produced at a grade of 18.7 ounces per ton.  No significant production has occurred after 1928.

Silver King is a steeply west-dipping pipelike stockwork and breccia zone that was mined on eight levels to about 300 meters depth below a glory hole at the surface. The pipe is described as a dense stockwork with local breccia zones and a quartz core, and that due to variations in mineralogy, much of the upper portion of the body has not been mined (3) . The current owners from whom the Company has optioned the project rehabilitated the main shaft in the late 1990s, opened the upper levels of the mine and produced a small tonnage. Assay certificates from this period show selected samples with 400 to 600 ounces per ton silver with 0.2-0.5 oz/t gold and some base metals. Virtually no modern exploration has been carried out at the mine providing significant exploration upside and multiple drill targets.

With respect to the Resolution deposit, the QP has been unable to verify the information, and the information is not necessarily indicative to the mineralization on the Silver King property.

(1) https://resolutioncopper.com/about-us/

(2) Galbraith, F, 1935, Geology of the Silver King area, Superior, Arizona, Univ. of Arizona thesis, 153p plus plates.

(3) Blake, W.P., 1883, Description of the Silver King Mine, Arizona, New Haven, 48p plus plates.

Qualified Person

Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosures in this news release. The historic data presented in this press release was obtained from public sources, should be considered incomplete and is not qualified under NI 43-101, but is believed to be accurate. The Company has not verified the historical data presented and it cannot be relied upon, and it is being used solely to aid in exploration plans.

(4) https://resolutioncopper.com/about-us/

(5) Briggs, D. 2015, Superior, Arizona: An old mining camp with many lives, Ariz. Geol Survey Contributed Report CR-15-D, 13p.

About the Silver King mine

Discovered in 1875, the Silver King mine was one of Arizona’s most important historic producers, yielding nearly 6 million ounces of silver at grades of up to 61 oz/t.  No significant production has occurred after 1928.

The Silver King mine sits only 3 km from the main shaft of the Resolution Copper project — a joint venture between Rio Tinto and BHP and one of the world’s largest unmined copper deposits, and just over 600m from the historic Magma mine deposit. The unique land position is fully surrounded by Resolution Copper’s claim block, offering strategic upside. Selected samples from small-scale production in the late 1990s returned grades as high as 644 oz/t silver (18,250 g/t) and 0.53 oz/t gold (15 g/t), indicating that high-grade mineralization remains.

About Prismo Metals Inc.

Prismo (CSE: PRIZ,OTC:PMOMF) is a mining exploration company focused on advancing its Silver King, Ripsey and Hot Breccia projects in Arizona and its Palos Verdes silver project in Mexico.

Please follow @PrismoMetals on , , , Instagram , and

Prismo Metals Inc.

1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6

Phone: (416) 361-0737

Contact:

Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com

Gordon Aldcorn, President gordon.aldcorn@prismometals.com

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. This information and these statements, referred to herein as ‘forward‐looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Hot Breccia.

These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Silver King.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund the drilling campaign at Silver King and the timing of such drilling campaign.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

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Uncle Herschel is returning to the Cracker Barrel chair.

After online outrage by conservatives who accused the country-themed restaurant chain of changing its values or going “woke” when it rolled out a new logo, the company said Tuesday that it was returning to its old branding.

‘We thank our guests for sharing your voices and love for Cracker Barrel. We said we would listen, and we have. Our new logo is going away and our ‘Old Timer’ will remain,’ Cracker Barrel said on Facebook.

‘At Cracker Barrel, it’s always been — and always will be — about serving up delicious food, warm welcomes, and the kind of country hospitality that feels like family,’ the company said. ‘As a proud American institution, our 70,000 hardworking employees look forward to welcoming you to our table soon.’

The new Cracker Barrel logo on a menu in a restaurant in Homestead, Fla., on Thursday.Joe Raedle / Getty Images file

Cracker Barrel, which has restaurants in 43 states, on Aug. 18 announced its new ‘All the More’ campaign and logo change, which removed the old man perched on a chair and the barrel from Cracker Barrel signs.

The new logo did not go over well in some spheres, and on social media, conservative critics accused the restaurant chain of abandoning its traditional values or of being ‘woke.’

President Donald Trump weighed in on the matter earlier Tuesday, writing on his social media platform, Truth Social, that the company should return to the old logo.

After Cracker Barrel announced the reversal Tuesday, Trump said on the platform: ‘Congratulations ‘Cracker Barrel’ on changing your logo back to what it was. All of your fans very much appreciate it.’ Trump also wished the company good luck.

Paul Weaver / SOPA Images/LightRocket via Getty Images

Taylor Budowich, a deputy White House chief of staff, claimed on X that he’d spoken with people at Cracker Barrel by phone Tuesday about the issue and said, ‘They thanked President Trump for weighing in on the issue of their iconic ‘original’ logo.’

Cracker Barrel did not immediately respond to a request for comment about a White House call.

Shares of Cracker Barrel jumped sharply Tuesday night after it announced the reversal. Since the debut of the new logo on Aug. 18, shares are down nearly 13%.

Cracker Barrel tried to tamp down the controversy Monday by admitting ‘we could’ve done a better job sharing who we are and who we’ll always be’ and issuing reassurances that its values had not changed.

The change was part of a “strategic transformation” that started in 2024 to revitalize the brand, CNBC reported when the new logo was introduced. The company has said that the initiative included ‘refreshing the brand identity’ and making changes to its menu.

Other companies have been met with right-wing outrage for advertising or other business decisions, including when Bud Light had a branded content partnership with transgender TikToker Dylan Mulvaney.

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