CVW Sustainable Royalties Announces Full Year 2025 Results
CVW Sustainable Royalties Announces Full
Year 2025 Results
Calgary, Alberta--(Newsfile Corp. - April 29, 2026) - CVW Sustainable Royalties Inc. (TSXV: CVW)
(OTCQX: CVWFF) (FSE: TMD) ("
CVW Royalties
" or the "
Company
") is pleased to announce its
operating and financial results for the year ended December 31, 2025. For complete details, please
refer to the fiscal year 2025 Annual Audited Financial Statements and associated Management's
Discussion and Analysis, available on SEDAR+:
www.sedarplus.ca
or on the Company's website:
www.CVWSustainableRoyalties.com
.
2025 Highlights
Cash on hand as at December 31, 2025 was $4.0 million. The Company continues to deploy
capital strategically, targeting initiatives that deliver value through the growth of its royalty portfolio
and the advancement of its Creating Value From Waste™ ("
CVW™
") technology.
The Company recorded total revenue of $1.5 million for the year ended December 31, 2025,
resulting from the change in fair value of its royalty debenture with Northstar Clean Technologies
Inc. ("
Northstar
").
Net loss for the year ended December 31, 2025 was $1.2 million and the net loss per share was
$0.01 (basic and diluted) for the same year.
Year-to-Date 2026 Highlights
Successfully completed a $100.0 million financing, including a $50.0 million strategic investment
from Fairfax Financial Holdings Limited ("
Fairfax
"), significantly strengthening the Company's
balance sheet and positioning it to execute on larger-scale royalty opportunities.
Closed a royalty transaction with Relocalize Inc. ("
Relocalize
") for total capital of up to $26.5
million, including $4.0 million of upfront capital and an option to invest an additional $22.5 million.
The Company is pleased with the progress made by Northstar in 2025 and early 2026. Northstar
successfully produced liquid asphalt at its Calgary facility that exceeded commercial specifications,
achieved its first major operational milestone of processing over 80 tonnes of shingle feedstock per day,
and completed its first commercial sale of liquid asphalt to McAsphalt Industries under its offtake
agreement. Northstar also received a non-binding letter of intent from Export Development Canada for
potential project financing of up to four US facilities, secured a non-binding agreement to lease its first
US commercial facility in Baltimore, Maryland, and closed a US$10.0 million financing to support
continued ramp-up in Calgary and future business development. Northstar is now focused on increasing
production volumes as it progresses toward commercial operations in Calgary and continues to execute
its expansion strategy.
Akshay Dubey, CEO of CVW Royalties
, stated: "2025 was another year of meaningful progress for
the business, highlighted by strong operational momentum at Northstar's Calgary facility, including first
commercial production and sale of liquid asphalt. This progress brings us closer to generating value for
our shareholders through our royalty agreement with Northstar."
Subsequent to December 31, 2025, the Company executed on several strategic priorities. On February
3, 2026, the Company entered into a royalty agreement with Relocalize for total capital of up to $26.5
million which included $4.0 million of upfront capital and an option for an additional $22.5 million. On
February 4, 2026, the Company announced a brokered private placement for up to $25.0 million, which
was subsequently upsized on February 24, 2026 for up to $100.0 million (the "
Offering
") due to very
strong investor demand, including a $50.0 million strategic investment from Fairfax. On March 2, 2026,
the Company closed the brokered portion of the Offering, and on April 16, 2026, the Company closed
the transaction with Fairfax.
"Early 2026 has also been a period of significant growth for the business, with the addition of Relocalize
as our second royalty partner. Commercial operations are now underway at their Florida facility as they
enter a period of growth. The strategic investment from Fairfax and the upsized financing also provide us
with the capital and partnership to accelerate the growth of our royalty platform. We remain focused on
disciplined capital deployment and identifying additional high-quality royalty opportunities that create
shareholder value," added Mr. Dubey.
About CVW Sustainable Royalties
CVW Sustainable Royalties
invests in sustainability-focused technologies and operations providing
returns linked to commodities and commodity-like products. CVW Sustainable Royalties is building a
portfolio of royalty-based cash flow streams by partnering with clean technology innovators and
operators in the commodity space. CVW Sustainable Royalties' current portfolio includes its proprietary
CVW™ technology which is designed to recover bitumen, solvents, critical minerals, and water from oil
sands froth treatment tailings with significant environmental benefits; an interest in two future Northstar
Clean Technologies facilities which reprocess waste shingles to produce liquid asphalt, aggregate, fiber
and limestone; and a royalty interest in Relocalize micro-factories which produce packaged ice and cold
packs in a more sustainable manner.
CVW Sustainable Royalties trades on the TSXV under the symbol "CVW", and is quoted on the OTCQX
under the symbol "CVWFF" and on the Frankfurt Stock Exchange under the symbol "TMD".
Disclosure regarding forward-looking information
This news release contains forward-looking statements and information within the meaning of
applicable Canadian securities laws (collectively, "forward-looking statements") that reflect the current
expectations of management about the future results, performance, achievements, prospects, or
opportunities for the Company. Forward-looking statements are frequently, but not always, identified
by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible"
and similar expressions, or statements that events, conditions or results "will", "may", "could" or
"should" occur or be achieved.
More particularly and without limitation, the forward-looking information in this news release includes
expectations regarding the Company's financing plans, the Offering, the proceeds therefrom and the
closing thereof; the Company's acquisition of royalties on a global scale; expectations concerning the
Company's plans and objectives in respect of the net proceeds of the Offering; the Company's
objectives, goals or future plans; the potential for the Company's royalty investment strategy to create
value; the Company's strategy to create long-term shareholder value and accelerate growth; and the
potential to generate positive, commodity-linked returns through partnerships with sustainable
companies. Forward-looking statements are statements about the future and are inherently uncertain,
and actual results of the Company may differ materially from those reflected in forward-looking
statements due to a variety of risks, uncertainties and other factors. For the reasons set forth above,
investors should not place undue reliance on forward-looking statements. Important factors that could
cause actual results to differ materially from the Company's expectations include: current estimates
and predictions being based on certain assumptions about the industry in which the Company
operates and macroeconomic conditions generally; uncertainties in the timing and receipt of
regulatory and exchange approvals; uncertainties involved in disputes and litigation; fluctuations in
interest rates, commodity prices, currency exchange rates, and other financial conditions, and the
resultant effect on the viability of investments; changes in the availability, and cost, of technical labour
required for our business; price escalation and/or inflationary pressures affecting the cost of
equipment and material required to commercialize our projects; the uncertainty of estimates of capital
and operating costs; the need to obtain additional financing and uncertainty as to the availability and
terms of future financing; the impact on the Company of increasing inflation; and other risks and
uncertainties disclosed in other information released by the Company from time to time and filed with
the appropriate regulatory agencies.
All forward-looking statements are based on the Company's beliefs and assumptions, which are
based on information available at the time these assumptions are made, and are necessarily based
upon several assumptions that, while considered reasonable by the Company, are inherently subject
to significant operational, business, economic and regulatory uncertainties and contingencies. The
Company has made the following assumptions in relation to the forward-looking statements in this
press release: the Company's royalty investment strategy will be successfully implemented and will
create value for the Company. The forward-looking statements contained herein are as of the date set
out above and are subject to change after this date, and the Company assumes no obligation to
publicly update or revise the statements to reflect new events or circumstances, except as may be
required pursuant to applicable laws.
Although management believes that the expectations represented by such forward-looking
statements are reasonable, there is significant risk that the forward-looking statements may not be
achieved, and the underlying assumptions thereto will not prove to be accurate. Actual results or
events could differ materially from the plans, intentions and expectations expressed or implied in any
forward-looking statements, including the underlying assumptions thereto, as a result of numerous
risks, uncertainties and factors including: failure to derive benefits from the Company's royalty
investment strategy; failure to receive regulatory approvals; the possibility that opportunities will arise
that require more cash than the Company has or can reasonably obtain; dependence on key
personnel; dependence on corporate collaborations; potential delays; uncertainties related to early
stage of technology and product development; uncertainties as to fluctuation of the stock market;
uncertainties as to future expense levels and the possibility of unanticipated costs or expenses or cost
overruns; and other risks and uncertainties which may not be described herein.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
For further information, please contact:
Akshay Dubey
Joshua Grant
CEO
CFO
403.460.8135
403.460.8135
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/294879