VANCOUVER, BC, April 28, 2026 /CNW/ – Earthworks Industries Inc. (TSXV: EWK) (OTCQB: EAATF) (the “Company”) is providing an update with respect to its previously announced management cease trade order (“MCTO”) issued by the British Columbia Securities Commission (the “BCSC”) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”), as previous disclosed in the news releases of the Company dated March 19, 2026 (the “Default Announcement”) and March 31, 2026 (the “MCTO News Release”).

The Company and its auditors continue to work diligently to file the audited financial statements and related annual management’s discussion and analysis for the financial year ended November 30, 2025, as required under Part 4 and Part 5, respectively, of National Instrument 51-102 — Continuous Disclosure Obligations, and related certifications of such filings by the Company’s chief executive officer and chief financial officer as required under Part 4 of National Instrument 52-109 — Certification of Disclosure in Issuers’ Annual and Interim Filings (collectively, the “Annual Filings”). It is expected that the Company will be able to complete the Annual filings by no later than May 29, 2026.

The Company is providing this bi-weekly update in accordance with NP 12-203 and will continue to provide such bi-weekly updates until such time that it remains in default for failure to file the Annual Filings.

The Company confirms that as of the date herein, (a) there has been no material change to the information set out in the Default Announcement or the MCTO News Release that has not been generally disclosed; (b) there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203; (c) there has not been, nor is there anticipated to be, any specified default subsequent to the default which is the subject of the Default Announcement; and (d) there is no other material information concerning the affairs of the Company that has not been generally disclosed.

About Earthworks Industries Inc.

Earthworks Industries Inc. is a publicly listed company focused on advancing innovative solutions across the materials recovery and infrastructure value chain, with an emphasis on efficiency, scalability, and long-term sustainability.

Cautionary Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has approved nor disapproved the contents of this news release, nor do they accept responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements 

Certain information contained in this release constitute forward-looking statements or information under Canadian securities legislation. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “will”, “expects”, “anticipates” or variations of such words and phrases or statements that certain actions, events or results “will” occur. In particular, ‎forward-looking ‎statements in this release include statements regarding: the anticipated timing for the filing of the Annual Filings; and the ability of the Company to comply with the requirements of NP12-203. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including that the Annual Filings may not be completed in the time anticipated or allowed for by the MCTO, in which case a general cease trade order may be issued with respect to the Company’s securities. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, 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. The Company cautions readers of this news release not to place undue reliance on the forward-looking statements contained in this release as many factors could cause actual results or conditions to differ materially from current expectations. Additional information on these and other risk factors that could affect the Company’s operations are outlined in the Company’s continuous disclosure documents that can be found on SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile. The Company does not intend and disclaims any obligation, except as required by law, to update or revise any forward-looking statements, whether because of new information, future events, or otherwise. 

SOURCE Earthworks Industries Inc.

PLANO, Texas, April 28, 2026 /PRNewswire/ — Ribbon Communications Inc. (Nasdaq: RBBN), a global leader in real-time communications technology and IP optical networking solutions, today announced that Rick Marmurek, Ribbon’s current Deputy Chief Financial Officer and Chief Accounting Officer, has been promoted to Executive Vice President, Chief Financial Officer (“CFO”) and Chief Accounting Officer, effective May 1, 2026. He will succeed current CFO John Townsend who will be leaving Ribbon effective April 30, 2026 to take another professional opportunity.

“Having worked closely with Rick over the last six years I am thrilled to formally welcome him to our executive leadership team,” said Bruce McClelland, President and CEO of Ribbon. “Rick has been a visible leader within the organization for more than a decade and has developed deep knowledge of our operations, the markets in which we operate, and our customers.  We believe Rick brings an unparalleled breadth of financial leadership, deep accounting expertise, and knowledge of the business to support and advance Ribbon’s strategy. We wish John the best in his next opportunity.”

Mr. Marmurek, CPA brings more than 35 years of financial experience, including more than 15 years at Ribbon or its predecessor companies, where he has served as Senior Vice President, Deputy CFO and Chief Accounting Officer since 2024.  Mr. Marmurek has served as Senior Vice President and Chief Accounting Officer since 2018. Prior to joining Ribbon, Mr. Marmurek was at Nokia for 10 years, specializing in tax-related work. He started his career in public accounting with Coopers and Lybrand. Mr. Marmurek holds an accounting degree from the University of Texas at Austin and a Master of Business Administration from Southern Methodist University.

About Ribbon

Ribbon Communications (Nasdaq: RBBN) is a global provider of voice communications software, IP routing, and optical networking to mobile and wireline service providers, enterprises, critical infrastructure and defense sectors. We support our customers’ Path to Autonomous Networks by leveraging the latest AIOps automation platforms and Agentic AI technologies, helping them deliver better customer experiences, reduce operational costs, and achieve sustainable growth. To learn more about Ribbon, visit rbbn.com.

Investor Contact
+1 (978) 614-8050
ir@rbbn.com    

Media Contact
Catherine Berthier
+1 (646) 741-1974
cberthier@rbbn.com

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SOURCE Ribbon Communications Inc.

Business Operations Revenue Grew 34%; Company Hosts Record Year of Live Events; Launches Fenix Club and ActiveVoices; Listed on Börse Frankfurt

TORONTO, April 28, 2026 /CNW/ – OverActive Media Corp. (“OverActive” or the “Company”) (TSXV: OAM) (OTC: OAMCF) (FRA: 0RB), a premier global esports and entertainment company for today’s generation of fans, today announced its results for the three and twelve-month periods ended December 31, 2025.

Full-year revenue reached a Company record of $28.5 million, a 5% increase over 2024. Business Operations revenue grew 34% to $22.0 million on the back of three record-breaking live events, new partnerships with global brands, and the launch of two new platforms. The Company reduced operating expenses by $1.6 million while absorbing a full year of post-acquisition costs from the March 2024 acquisitions of KOI and Movistar Riders.

The Company’s consolidated audited financial statements and Management’s Discussion and Analysis for the three and twelve-month periods ended December 31, 2025 are available on the Company’s website at www.overactivemedia.com and under the Company’s profile on SEDAR+ at www.sedarplus.ca. Unless otherwise specified, all amounts are in Canadian dollars ($).

Financial Results Summary for Q4 and FY 2025

CEO Commentary

“New business lines started contributing in 2025,” said Adam Adamou, CEO and Co-Founder of OverActive Media. “We hit record revenue of $28.5 million with Business Operations up 34 percent. We hosted a record three major live events, all firsts of their kind. In Madrid, we held the first-ever Call of Duty League Major in mainland Europe, and the first-ever LEC Roadtrip at Madrid Arena, drawing 18,000 fans and 348,000 peak concurrent viewers. In Kitchener, our Call of Duty Championship Weekend set a league viewership record at 353,000 peak concurrent viewers. The Company strengthened its commercial momentum through the renewal of key partnerships, complemented by the addition of new marquee partnerships including Pepsi, Ilusiona and Little Caesars.”

Adamou continued, “We also set up what’s next. Fenix Club, our first direct-to-consumer subscription, is live, and ActiveVoices, our AI localization platform, opens up a recurring revenue line. We relaunched our 2:10 agency into the influencer space, and it grew fast and added to revenue. We listed on the Börse Frankfurt in November to give European investors a euro-denominated way into the stock, and we closed an equity financing in December to support working capital. We rebranded Toronto Ultra to Toronto KOI to operate as one team under one global brand, and Movistar KOI took the LEC Spring Split title and qualified for Worlds for the seventh year in a row.”

“2026 is about margin and cash. We’ve taken meaningful cost out of the business, our newer revenue lines are scaling, and we have stronger commercial visibility than we’ve had at this point in any prior year. We expect that combination to drive a step change in operating performance, with the goal of putting OverActive on a clear path to sustainable profitability.”

2025 Operational Highlights

Record Live Events and Team Performance

Hosted Call of Duty League Major 1 in Madrid with Movistar KOI, drawing more than 12,000 fans and a 233,000 peak concurrent viewership.Hosted the LEC on the Road at Madrid Arena, drawing more than 18,000 fans and a 348,000 peak online viewership.Hosted the Call of Duty Championship Weekend in Kitchener, Ontario, drawing over 11,000 fans and setting a Call of Duty League all-time viewership record at 353,000 peak online viewers.Movistar KOI captured the LEC Spring Split title and qualified for MSI 2025 in Vancouver and the Esports World Cup in Riyadh.Movistar KOI qualified for the 2025 League of Legends World Championships in China, its seventh consecutive Worlds appearance, with the event drawing 6.7 million peak viewers.Toronto KOI placed third at Call of Duty Major 2 in Texas, Major 3 in Florida, and the Esports World Cup in Riyadh.

Commercial Growth

Business Operations revenue grew 34% year-over-year to $22.0 million.Movistar KOI signed new partnership with Ilusiona, in addition to Ecoembes which is helping Movistar KOI advance in sustainability.Toronto KOI renewed Bell Canada as exclusive telecommunication partner through 2027, alongside renewals with Monster Energy, AMD, Blacklyte, Red Bull, and SCUF Gaming, and added Little Caesars as a new partner.Signed Pepsi in Europe and launched a North American agency offering anchored by Stonefire, growing the Agencies business into a meaningful commercial line.

New Platforms and Brand

Launched Fenix Club Gaming, the Company’s first direct-to-consumer subscription platform, offering members merchandise discounts, early event ticket access, exclusive giveaways, and dedicated community channels.Launched ActiveVoices, an AI-powered SaaS content localization platform offering instant translation, authentic dubbing, and multi-platform publishing for global creators.Completed the rebrand of Toronto Ultra to Toronto KOI, unifying the Company’s global team brand.Listed on the Börse Frankfurt (FRA: 0RB) on November 11, 2025, creating a euro-denominated access point for European investors.

Fourth Quarter 2025 Financial Highlights

Gross margin expanded to 61% from 54% in Q4 2024, reflecting a higher share of league-related revenue recognized in the quarter.Operating costs decreased 6% to $6.2 million, compared to $6.6 million in Q4 2024, reflecting lower Team Operations payroll following the wind-down of the Toronto Defiant and the exit from the Counter-Strike ecosystem.Revenue was $7.3 million, compared to $9.9 million in Q4 2024. The prior-year quarter included elevated Call of Duty League skin sales that did not recur in Q4 2025.Adjusted EBITDA loss was $1.2 million, compared to a loss of $0.6 million in Q4 2024. The prior-year quarter benefitted from a $1.7 million non-cash decrease in the net present value of franchise obligations tied to the forgiveness of the LEC franchise fee.Net loss was $1 million, compared to a loss of $0.9 million in Q4 2024.

Full Year 2025 Financial Highlights

Revenue grew 5% to a Company record of $28.5 million, compared to $27.0 million in FY 2024.Business Operations revenue grew 34% to $22.0 million, driven by three major live events, the launch of Fenix Club, and growth in the Agencies business with Pepsi and Stonefire.Operating expenses decreased 7% to $21.8 million, compared to $23.4 million in FY 2024, reflecting cost discipline across Team Operations and lower restructuring and business development costs following the integration of KOI and Movistar Riders.Loss from operating activities before other items was $6.6 million, essentially flat year-over-year, even as FY 2025 absorbed a full year of operating costs from the acquired businesses compared with ten months in FY 2024.Adjusted EBITDA loss was $5.8 million, compared to a loss of $3.6 million in FY 2024.Net loss was $11.4 million, compared to $0.6 million in FY 2024. FY 2024 results included an $11.5 million non-cash gain on the decrease in net present value of franchise obligations following the termination of the Call of Duty League participation agreement and the forgiveness of the LEC franchise fee. FY 2025 does not include a comparable non-cash item.Comprehensive loss was $8.6 million, compared to comprehensive income of $0.3 million in FY 2024.

Liquidity and Capital Resources

Cash and cash equivalents were $4.4 million at December 31, 2025, compared to $6.8 million at December 31, 2024.Cash used in operating activities improved to $2.4 million, compared to $7.7 million in FY 2024, reflecting tighter net working capital management.On October 22, 2025, the Company secured $2.0 million in gross proceeds through secured promissory notes with entities controlled by members of the Board of Directors, reflecting continued confidence from the Company’s largest shareholders.On December 30, 2025, the Company announced a private placement securing an additional $0.9 million.The Company’s listing on the Börse Frankfurt on November 11, 2025, broadens access to international capital markets and complements the Company’s existing TSXV and OTC listings.

2026 Momentum

Selected as Official National Team Partner for Canada alongside Esport Canada, with Movistar KOI as Official Co-Team Partner for Spain, at the Esports Nations Cup in Riyadh, Saudi Arabia.Movistar KOI signed new partnerships with Idealo and Philips for the 2026 season.Movistar KOI hosted LEC Versus in Barcelona, Spain, with additional Spring and Summer Roadtrip events in Madrid, building on the success of the 2025 Madrid Arena event.

Reconciliation of Net Loss to Adjusted EBITDA

Twelve months ended December 31:

Three months ended December 31:

NON-IFRS MEASURES

This press release includes references to Adjusted EBITDA. Adjusted EBITDA is a non-IFRS financial measure and is defined by the Company as net income or loss before income taxes, finance income and costs, depreciation and amortization, decrease in net present value of franchise obligations, foreign exchange gains/losses, restructuring and business development costs, impairment charges, and share-based compensation. The Company believes that Adjusted EBITDA is a useful measure of financial performance because it provides an indication of the Company’s ability to capitalize on growth opportunities in a cost-effective manner, finance its ongoing operations, and service its financial obligations.

This non-IFRS financial measure is not an earnings or cash flow measure recognized by IFRS and does not have a standardized meaning prescribed by IFRS. The Company’s method of calculating such a financial measure may differ from the methods used by other issuers and, accordingly, its definition of this non-IFRS financial measure may not be comparable to similar measures presented by other issuers. Investors are cautioned that non-IFRS financial measures should not be construed as an alternative to net income determined in accordance with IFRS as indicators of the Company’s performance or to cash flows from operating activities as measures of liquidity and cash flows.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This press release contains statements which constitute “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws (collectively, “forward-looking statements”), including statements regarding the plans, intentions, beliefs and current expectations of OverActive with respect to future business activities and operating performance, including anticipated revenue growth, margin improvement, the Company’s ability to secure additional financing, and the Company’s ability to continue as a going concern. Forward-looking statements are often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and include information regarding the anticipated financial and operating results of OverActive in the future.

Investors are cautioned that forward-looking statements are not based on historical facts but instead on OverActive management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although OverActive believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon. Key factors that could cause actual results to differ materially include: the Company’s ability to raise additional financing and continue as a going concern; changes in general economic, business, and political conditions; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with government regulation; risks associated with foreign markets; the ability of the Company to execute on its partnerships and business strategy; the ability of the LEC and Call of Duty Leagues to maintain viewership; and other risk factors set out in OverActive’s public disclosure documents filed under its profile at www.sedarplus.ca.

OverActive does not intend and does not assume any obligation to update the forward-looking statements except as otherwise required by applicable law.

ABOUT OVERACTIVE MEDIA

OverActive Media Corp. (TSXV: OAM) (OTC: OAMCF) (FRA: 0RB) is a premier global esports and entertainment company for today’s generation of fans, headquartered in Toronto, Canada, with operations in Madrid, Spain and Berlin, Germany. OverActive delivers premium experiences by operating top-tier competitive teams and complementary business units across media, content, and live events, including Movistar KOI in the League of Legends EMEA Championship and Toronto KOI in the Call of Duty League.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Overactive Media Corp.