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Cboe Global Markets Reports Trading Volume for December and Full Year 2024

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CHICAGO, Jan. 6, 2025 /PRNewswire/ — Cboe Global Markets, Inc. (Cboe: CBOE), the world’s leading derivatives and securities exchange network, today reported December and full year 2024 trading volume statistics across its global business lines and provided guidance for selected revenue per contract/net revenue capture metrics for the fourth quarter of 2024.

The data sheet “Cboe Global Markets Monthly Volume & RPC/Net Revenue Capture Report” contains an overview of certain December and full year 2024 trading statistics and market share by business segment, volume in select index products, and RPC/net capture, which is reported on a one-month lag, across business lines.

Average Daily Trading Volume (ADV) by Month

Year-To-Date

Dec

2024

Dec

2023

%

Chg

Nov
 2024

%  
 Chg

Dec

2024

Dec

2023

%  
 Chg

Multiply-listed options (contracts, k)

11,864

10,472

13.3 %

12,355

-4.0 %

10,853

10,814

0.4 %

Index options (contracts, k)

4,014

3,984

0.8 %

4,141

-3.0 %

4,094

3,800

7.7 %

Futures (contracts, k)

213

201

6.0 %

222

-3.8 %

239

223

6.9 %

U.S. Equities – On-Exchange (matched shares, mn)

1,515

1,654

-8.4 %

1,601

-5.4 %

1,392

1,413

-1.4 %

U.S. Equities – Off-Exchange (matched shares,
mn)1

70

71

-1.9 %

94

-25.7 %

79

79

-0.6 %

Canadian Equities (matched shares, k)

154,344

151,854

1.6 %

159,068

-3.0 %

147,576

136,110

8.4 %

European Equities (€, mn)

9,291

8,816

5.4 %

11,262

-17.5 %

9,780

9,398

4.1 %

Cboe Clear Europe Cleared Trades2 (k)

96,747

83,648

15.7 %

114,701

-15.7 %

1,229,203

1,172,028

4.9 %

Cboe Clear Europe Net Settlements2 (k)

926

770

20.2 %

995

-6.9 %

11,199

10,045

11.5 %

Australian Equities (AUD, mn)

772

777

-0.7 %

822

-6.1 %

790

704

12.2 %

Japanese Equities (JPY, bn)

250

192

30.0 %

251

-0.5 %

304

177

72.3 %

Global FX ($, mn)

43,122

45,600

-5.4 %

49,565

-13.0 %

46,731

44,706

4.5 %

1 U.S. Equities – Off-Exchange ATS Block metrics restated to incorporate a tier of sell-side activity from July 2023 and forward, previously excluded from reporting.

2 Cboe Clear Europe figures are totals (not ADV) for the months and years-to-date. As of April 2023, data has been restated to reflect both On-Book and Off-Book cleared trades.

December and Full Year 2024 Trading Volume Highlights   

U.S. Options

Total volume across Cboe’s four options exchanges was 3.8 billion contracts in 2024, with an ADV of 14.95 million contracts traded, the fifth consecutive record-breaking year.Cboe’s proprietary product suite set several volume records for the year, including:Overall proprietary index options product suite traded a total of 1.03 billion contracts, with an ADV of 4.1 million contractsS&P 500 Index (SPX) options traded a total of 784.2 million contracts, with an ADV of 3.1 million contractsCboe Volatility Index (VIX) options traded a total of 209.2 million contracts, with an ADV of 830 thousand contractsXSP (Mini-SPX) options traded a total of 17.6 million contracts, with an ADV of 69 thousand contractsIn the fourth quarter, zero days to expiry trading in SPX comprised of 51% of overall SPX volumes, a quarterly record.

Global FX

Global FX reported a record full year spot average daily notional volume (ADNV) of $45.4 billion, eclipsing last year’s record of $43.6 billion.

Fourth-Quarter 2024 RPC/Net Revenue Capture Guidance

The projected RPC/net capture metrics for the fourth quarter of 2024 are estimated, preliminary and may change. There can be no assurance that our final RPC for the three months ended December 31, 2024, will not differ materially from these projections.

(In USD unless stated otherwise) 

Three-Months Ended 

 Product: 

4Q Projection

Nov-24

Oct-24

Sept-24

Multiply-Listed Options (per contract)

$0.065

$0.067

$0.066

$0.063

Index Options

$0.905

$0.895

$0.894

$0.892

Total Options

$0.281

$0.288

$0.300

$0.298

Futures (per contract)

$1.767

$1.753

$1.760

$1.767

U.S. Equities – Exchange (per 100 touched shares)

$0.018

$0.020

$0.022

$0.024

U.S. Equities – Off-Exchange (per 100 touched shares)

$0.128

$0.129

$0.130

$0.135

Canadian Equities (per 10,000 touched shares)

CAD 4.057

CAD 4.158

CAD 4.192

CAD 4.240

European Equities (per matched notional value)

0.260

0.260

0.257

0.257

Australian Equities (per matched notional value)

0.153

0.156

0.155

0.156

Japanese Equities (per matched notional value)

0.234

0.228

0.219

0.221

Global FX (per one million dollars traded)

$2.742

$2.687

$2.680

$2.665

Cboe Clear Europe Fee per Trade Cleared

€ 0.009

€ 0.008

€ 0.008

€ 0.008

Cboe Clear Europe Net Fee per Settlement

€ 0.976

€ 0.979

€ 1.001

€ 1.026

The above represents average revenue per contract (RPC) or net capture is based on a three-month rolling average, reported on a one-month lag. Average transaction fees per contract can be affected by various factors, including exchange fee rates, volume-based discounts and transaction mix by contract type and product type.

For Options and Futures, the average RPC represents total net transaction fees recognized for the period divided by total contracts traded during the period for options exchanges: BZX Options, Cboe Options, C2 Options and EDGX Options; futures include contracts traded on Cboe Futures Exchange, LLC (CFE).For U.S. Equities, “net capture per 100 touched shares” refers to transaction fees less liquidity payments and routing and clearing costs divided by the product of one-hundredth ADV of touched shares on BZX, BYX, EDGX and EDGA and the number of trading days for the period.For U.S. Equities – Off-Exchange, “net capture per 100 touched shares” refers to transaction fees less OMS/EMS costs and clearing costs divided by the product of one-hundredth ADV of touched shares on BIDS Trading and the number of trading days for the period.For Canadian Equities, “net capture per 10,000 touched shares” refers to transaction fees divided by the product of one-ten thousandth ADV of shares for Cboe Canada and the number of trading days for the period and includes revenue.For European Equities, “net capture per matched notional value” refers to transaction fees less liquidity payments in British pounds divided by the product of ADNV in British pounds of shares matched on Cboe Europe Equities and the number of trading days.For Australian Equities, “net capture per matched notional value” refers to transaction fees less trading fee relief in Australian Dollars divided by the product of ADNV in Australian Dollars of shares matched on Cboe Australia and the number of trading days.For Japanese Equities, “net capture per matched notional value” refers to transaction fees less liquidity payments in Japanese Yen divided by the product of ADNV in Japanese Yen of shares matched on Cboe Japan and the number of trading days.For Global FX, “net capture per one million dollars traded” refers to transaction fees less liquidity payments, if any, divided by the Spot and SEF products of one-thousandth of ADNV traded on the Cboe FX Markets and the number of trading days, divided by two, which represents the buyer and seller that are both charged on the transaction.For Cboe Clear Europe, “Fee per Trade Cleared” refers to clearing fees divided by number of non-interoperable trades cleared and “Net Fee per Settlement” refers to settlement fees less direct costs incurred to settle divided by the number of settlements executed after netting.

About Cboe Global Markets

Cboe Global Markets (Cboe: CBOE), the world’s leading derivatives and securities exchange network, delivers cutting-edge trading, clearing and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives and FX across North America, Europe and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about the Exchange for the World Stage, visit www.cboe.com.

Cboe Media Contacts

Cboe Analyst Contact

Angela Tu 

Tim Cave

Kenneth Hill, CFA 

+1-646-856-8734 

+44 (0) 7593-506-719

+1-312-786-7559 

atu@cboe.com 

tcave@cboe.com

khill@cboe.com 

CBOE-V

Cboe®, Cboe Global Markets®, Cboe Volatility Index®, and VIX® are registered trademarks of Cboe Exchange, Inc. or its affiliates. Standard & Poor’s®, S&P®, SPX®, and S&P 500® are registered trademarks of Standard & Poor’s Financial Services, LLC, and have been licensed for use by Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.

Any products that have the S&P Index or Indexes as their underlying interest are not sponsored, endorsed, sold or promoted by Standard & Poor’s or Cboe and neither Standard & Poor’s nor Cboe make any representations or recommendations concerning the advisability of investing in products that have S&P indexes as their underlying interests. All other trademarks and service marks are the property of their respective owners.

Cboe Global Markets, Inc. and its affiliates do not recommend or make any representation as to possible benefits from any securities, futures or investments, or third-party products or services. Cboe Global Markets, Inc. is not affiliated with S&P. Investors should undertake their own due diligence regarding their securities, futures, and investment practices. This press release speaks only as of this date. Cboe Global Markets, Inc. disclaims any duty to update the information herein.

Nothing in this announcement should be considered a solicitation to buy or an offer to sell any securities or futures in any jurisdiction where the offer or solicitation would be unlawful under the laws of such jurisdiction. Nothing contained in this communication constitutes tax, legal or investment advice. Investors must consult their tax adviser or legal counsel for advice and information concerning their particular situation.

Cboe Global Markets, Inc. and its affiliates make no warranty, expressed or implied, including, without limitation, any warranties as of merchantability, fitness for a particular purpose, accuracy, completeness or timeliness, the results to be obtained by recipients of the products and services described herein, or as to the ability of the indices referenced in this press release to track the performance of their respective securities, generally, or the performance of the indices referenced in this press release or any subset of their respective securities, and shall not in any way be liable for any inaccuracies, errors. Cboe Global Markets, Inc. and its affiliates have not calculated, composed or determined the constituents or weightings of the securities that comprise the third-party indices referenced in this press release and shall not in any way be liable for any inaccuracies or errors in any of the indices referenced in this press release.

There are important risks associated with transacting in any of the Cboe Company products discussed here. Before engaging in any transactions in those products, it is important for market participants to carefully review the disclosures and disclaimers contained at: https://www.cboe.com/us_disclaimers/

Options involve risk and are not suitable for all market participants. Prior to buying or selling an option, a person should review the Characteristics and Risks of Standardized Options (ODD), which is required to be provided to all such persons. Copies of the ODD are available from your broker or from The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606. 

Cautionary Statements Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. You can identify these statements by forward-looking words such as “may,” “might,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” or “continue,” and the negative of these terms and other comparable terminology. All statements that reflect our expectations, assumptions or projections about the future other than statements of historical fact are forward-looking statements. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from those expressed or implied by the forward-looking statements.

We operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements.

Some factors that could cause actual results to differ include: the loss of our right to exclusively list and trade certain index options and futures products; economic, political and market conditions; compliance with legal and regulatory obligations; price competition and consolidation in our industry; decreases in trading or clearing volumes, market data fees or a shift in the mix of products traded on our exchanges; legislative or regulatory changes or changes in tax regimes; our ability to protect our systems and communication networks from security vulnerabilities and breaches; our ability to attract and retain skilled management and other personnel; increasing competition by foreign and domestic entities; our dependence on and exposure to risk from third parties; global expansion of operations; factors that impact the quality and integrity of our and other applicable indices; our ability to manage our growth and strategic acquisitions or alliances effectively; our ability to operate our business without violating the intellectual property rights of others and the costs associated with protecting our intellectual property rights; our ability to minimize the risks, including our credit, counterparty, investment, and default risks, associated with operating a European clearinghouse; our ability to accommodate trading and clearing volume and transaction traffic, including significant increases, without failure or degradation of performance of our systems; misconduct by those who use our markets or our products or for whom we clear transactions; challenges to our use of open source software code; our ability to meet our compliance obligations, including managing potential conflicts between our regulatory responsibilities and our for-profit status; our ability to maintain BIDS Trading as an independently managed and operated trading venue, separate from and not integrated with our registered national securities exchanges; damage to our reputation; the ability of our compliance and risk management methods to effectively monitor and manage our risks; restrictions imposed by our debt obligations and our ability to make payments on or refinance our debt obligations; our ability to maintain an investment grade credit rating; impairment of our goodwill, long-lived assets, investments or intangible assets; the impacts of pandemics; the accuracy of our estimates and expectations; litigation risks and other liabilities; and risks relating to digital assets, including winding down the Cboe Digital spot crypto market and transitioning digital asset futures contracts to CFE, operating a digital assets futures clearinghouse, cybercrime, changes in digital asset regulation, and fluctuations in digital asset prices. More detailed information about factors that may affect our actual results to differ may be found in our filings with the SEC, including in our Annual Report on Form 10-K for the year ended December 31, 2023 and other filings made from time to time with the SEC.

We do not undertake, and we expressly disclaim, any duty to update any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

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SOURCE Cboe Global Markets, Inc.

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Ever.Ag Advances Everett, Its Ag Decision Engine, to Agribusiness

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The third wave of Ever.Ag’s agentic AI rollout arrives at Tech Hub Live, bringing FieldAlytics and Merchant Ag to ag retailers, cooperatives, and growers

DES MOINES, Iowa, July 20, 2026 /PRNewswire/ — Ever.Ag today announced the expansion of Everett, its Ag Decision Engine, to agribusiness—the third wave of an agentic AI rollout that began with dairy in April and expanded to livestock and animal protein in June. The announcement is being made at Tech Hub Live, where Ever.Ag is a key sponsor, at the Iowa Events Center in Des Moines. Everett connects data across a customer’s operation with Ever.Ag intelligence, turning insights into decisions by orchestrating, evolving, and creating workflows woven into the products ag retailers, cooperatives, and agronomists already rely on.

Ever.Ag today announced the expansion of Everett, its Ag Decision Engine, to agribusiness.

“We said from the beginning that this rollout would go deep in every vertical we serve,” said Ever.Ag CEO Scott Sexton. “FieldAlytics monitors over 220 million active acres. Merchant Ag powers ag retailers and cooperatives across the country. Bringing Everett into those products means agentic AI is now at work for the people who advise, supply, and serve growers every day.”

Agentic AI Built for Ag Retail and the Grower Adviser Network
Ag retailers and cooperatives manage agronomic advice, logistics, grain merchandising, energy delivery, and grower relationships simultaneously, and the margin for a missed signal is real. Everett proactively monitors what matters across that complexity, recommends actions with full context, and enables execution without requiring teams to jump between systems.

“Whether you’re a sales agronomist looking for the next opportunity to improve a grower’s yield, a grain merchandiser settling contracts under deadline, or a dispatcher routing energy deliveries ahead of a cold snap, Everett arrives knowing how operations like yours work and where those decisions happen,” said Simon Drake, Chief Product Officer. “General-purpose AI tools don’t.”

Everett works within each customer’s own data environment. Data stays within their operation and is never shared with or used to inform recommendations for other customers. Everett’s intelligence deepens as it learns the patterns of each customer’s own operation, so the value compounds for that customer without their data ever leaving it. This approach is reinforced by Ever.Ag’s SOC 2 Type II compliance, reflecting decades of experience safeguarding customer data with rigorous, independently validated controls.

What Everett Can Do: A Few Examples
FieldAlytics — Everett predicts which growers are likely to order, and in what quantities, so sales teams can pre-sell and operations can pre-position before the call comes in. Everett delivers role-aware summaries on every FieldAlytics report, giving growers, agronomists, and managers plain-language insights and clear next steps. It also continuously monitors connected equipment, detecting silent connectivity failures before operators encounter them.

Merchant Ag — Everett delivers a unified view of every customer across divisions, surfacing churn signals and expansion opportunities before they would be identified manually. For co-op finance teams, Everett models patronage scenarios and produces board-ready outputs in minutes. Everett also automates AP entry, reading and processing expense and product invoices for validation. Additional capabilities include energy demand forecasting and route optimization, grain settlement validation, and cross-division credit risk scoring and collections prioritization.

What’s Next
The expansion of Everett is not finished. Additional products across dairy, livestock, and agribusiness will carry Everett capabilities in the months ahead, further deepening the intelligence available to customers within each vertical.

“Every product we add makes the value compound,” Sexton added. “We’re not done within any of these verticals. And Everett keeps getting better. The more a customer uses it, the more it understands their operation, and the more value it delivers back to them.”

Learn more about Everett at Tech Hub Live, Iowa Events Center, Des Moines, Iowa, July 20–22, 2026. For more information, visit: www.ever.ag/everett

ABOUT EVER.AG
Ever.Ag is a leading provider of innovative AgTech solutions and services that connect and empower the entire agricultural supply chain, from farm to consumer. With a deep commitment to advancing how agriculture works, Ever.Ag delivers market intelligence, risk management, and cutting-edge software that enable smarter, more sustainable operations across dairy, livestock, crops, and agribusiness sectors. Backed by decades of experience and a passion for industry innovation, Ever.Ag helps producers, processors, and partners make data-driven decisions, improve efficiency, and feed a growing world with confidence.

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SOURCE Ever.Ag

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Replenish Nutrients Announces Strategic Relationship with SRC Agrominerals, including $15 Million Strategic Investment, Beiseker Facility Expansion and Supply Agreement

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OKOTOKS, AB, July 20, 2026 /CNW/ — Replenish Nutrients Holding Corp. (CSE: ERTH) (OTC: VVIVF) (“Replenish” or the “Company”) is pleased to announce that it has entered into a securities purchase agreement (the “Investment Agreement”) dated July 17, 2026 with SRC Agrominerals (“SRC”) to support and accelerate Replenish’s near-term growth, including an expansion of the Beiseker facility (the “Beiseker Pelletization Expansion”). Additionally, Mr. Tim Close, the CEO of SRC, and Dr. David Morris, the founder and chairman of Morris Group Canada will join Replenish’s Board of Directors as a director and board advisor, respectively, with Dr. Morris being put forth as a director at Replenish’s next annual shareholder meeting.

Pursuant to the Investment Agreement, SRC will (a) subscribe for 50 million units of the Company (the “Units”) at a price of $0.15 per Unit for gross proceeds of $7.5 million (the “Equity Investment”), each Unit will consist of one common share of the Company (a “Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”), each Warrant will entitle the holder to acquire one Common Share at an exercise price of $0.225 for a period of four years from closing, and (b) purchase a senior secured (second lien) convertible debenture (the “Debenture”) in an aggregate principal amount of $7.5 million (the “Debenture Investment”, and together with the Equity Investment, the “Strategic Investment”). The Debenture will bear fixed interest of 10% per annum, payable quarterly, in cash or Common Shares at the Company’s election, will mature four years from closing, and will be convertible into Common Shares at a price of $0.225 per Common Share.

As part of the Strategic Investment, the parties will enter into a supply agreement (the “Supply Agreement”) for the supply and delivery to Replenish of carbonatite, a calcium, phosphorus, trace-mineral and microbial-rich resource used for its soil-enhancing properties, and an investor rights agreement (the “Investor Rights Agreement”), as described below.

Highlights:

SRC will take an initial 19.9% interest (non-diluted) in Replenish through the $7.5 million Equity Investment, providing Replenish access to key growth capital and a long-term strategic partner.Each Unit includes one-half of a Warrant – 25 million Warrants in aggregate – exercisable at $0.225 for four years from closing, subject to an acceleration provision if the Common Shares trade at or above $0.28 for twenty consecutive trading days, representing potential additional proceeds to the Company of up to approximately $5.63 million for future growth.SRC will invest $7.5 million, pursuant to the Debenture Investment, representing flexible and cost-effective capital during a period of rapid expansion.Aggregate investment proceeds will support a separate 150,000 metric tonne pelletizing facility at the Company’s existing Beiseker property, along with additional storage, load-out and processing infrastructure supporting the existing Beiseker granulation facility and the new Beiseker Pelletization Expansion.The Supply Agreement provides a long-term supply of carbonatite to be incorporated into Replenish’s proprietary regenerative fertilizer products, securing a key input that enhances Replenish’s product line.In connection with the Strategic Investment, Tim Close, CEO of SRC Agrominerals, will be appointed to the Replenish board. Mr. Close brings significant leadership and expertise across capital markets, corporate strategy, operational execution and commercial governance. Mr. Close previously served as CEO of Ag Growth International (“AGI”), a large, publicly traded global leader in storage, handling and blending equipment for the fertilizer, seed, grain and food-processing sectors. During his 10-year tenure, Mr. Close led AGI’s transformation from a regional provider of grain-handling equipment into a global leader in food infrastructure, with revenue growing fivefold during that span. He built and led a high-performing team, strengthened operational execution and advanced the company’s global growth strategy, including overseeing the deployment of more than $700 million of capital across 19 strategic transactions. Dr. David Morris, Director of SRC Agrominerals, will also join the Replenish board as an advisor and will be put forward as a director at Replenish’s next annual shareholder meeting. Dr. Morris is the founder and former Chairman of Morris Group Canada Inc., which provided innovative solutions for the construction and resource sectors across Canada and South America, including modular construction, workforce housing, site services, labour management, and safety training. Dr. Morris brings deep operational expertise at a time when Replenish is moving into significant operational and commercial expansion.

CEO Commentary

     Neil Wiens, CEO, Replenish Nutrients

“This strategic relationship marks a pivotal step in Replenish’s growth strategy,” said Neil Wiens, CEO of Replenish Nutrients. “SRC’s investment gives us the capital to accelerate our Beiseker pelletizing expansion, while our new supply agreement gives Replenish access to a key input for our regenerative fertilizer platform. Beyond the capital, we’re gaining a strategic partner in Tim, David and the SRC team, whose operational and capital markets experience will be a significant asset to Replenish as we scale.”

     Tim Close, CEO, SRC Agrominerals

“Replenish has built a capital-efficient, scalable platform for regenerative fertilizer production, and this investment reflects our confidence in their team and their growth trajectory,” said Tim Close, CEO of SRC Agrominerals. “Pairing Replenish’s manufacturing and distribution capabilities with SRC’s carbonatite reserves creates a compelling opportunity to bring the proven soil health benefits of Spanish River Carbonatite to growers across North America. I look forward to joining the Replenish board and supporting the Company through its next phase of growth.”

Beiseker Pelletization Expansion & Facility Pipeline

The planned owned Beiseker Pelletization Expansion will consist of a separate 150,000 metric tonne pelletizing facility, along with additional storage, load-out and processing infrastructure supporting the existing Beiseker granulation facility and the new Beiseker Pelletization Expansion. The Beiseker Pelletization Expansion is expected to be completed by the first quarter of 2028.

The Company expects annualized production from its existing owned and licensed facilities is made up of the following:

Owned Beiseker granulation facility:                                               24,000 metric tonnesOwned Beiseker colony pelletization facility:                                  12,000 metric tonnesLicensed Farmers Union Enterprises (FUE) pelletization facility:   100,000 metric tonnesLicensed MJ Ag pelletization facility:                                               10,000 metric tonnes

The Beiseker Pelletization Expansion will be on the same site as the Company’s existing Beiseker granulation facility and will have no impact to the current production from the Beiseker granulation facility. Upon completion of the new Beiseker Pelletization Expansion, both facilities will benefit from additional shared storage, processing and load-out infrastructure. These capacity estimates have been prepared by management in good faith based on information available to management as of the date hereof and actual results may differ from these expectations.

Consistent with previous guidance, the Company expects gross margins of the new Beiseker Pelletization Expansion to be 25% to 35%. Replenish expects the new pelletization facility to be completed in the first quarter of 2028.

Strategic Investment

Equity Investment – SRC will subscribe for 50 million Units at a price of $0.15 per Unit for gross proceeds of $7.5 million, each Unit will consist of one Common Share and one-half of one Warrant. Each Warrant will entitle the holder to acquire one Common Share at an exercise price of $0.225 for a period of four years from closing of the Equity Investment, subject to an acceleration provision if the Company’s common shares trade at or above $0.28 for twenty consecutive trading days, in accordance with the terms of the warrant certificate governing the Warrants.

Debenture Investment – SRC will also purchase the Debenture in an aggregate principal amount of $7.5 million. The Debenture will bear fixed interest of 10% per annum, payable quarterly, in cash or Common Shares at the Company’s election, will mature four years from closing of the Debenture Investment, and will be convertible into Common Shares at a price of $0.225 per Common Share.

Proceeds from the Strategic Investment shall be applied to the Beiseker Pelletization Expansion, which is expected to be completed in the first quarter of 2028, working capital, inventory purchases, debt repayment, and general corporate purposes.

Closing of the Equity Investment is expected to occur on or about July 24, 2026 and closing of the Debenture Investment is expected to occur on or about August 14, 2026. In accordance with applicable securities laws, the Units and the Debenture will be subject to a hold period expiring four months and one day following the date of issuance. Closing of the Equity Investment and the Debenture Investment is subject to certain customary conditions, including the receipt of all necessary consents, regulatory approvals and the approval of the Canadian Securities Exchange.

Supply Agreement

On closing of the Equity Investment, Replenish and SRC will enter into the Supply Agreement for the supply and delivery to Replenish of carbonatite, a calcium, phosphorus, trace-mineral and microbial-rich resource used for its soil-enhancing properties. Pursuant to the Supply Agreement, Replenish has agreed to purchase a minimum specified quantity per year of carbonatite over a 10-year period, and has agreed to ensure its products contain a minimum specified percentage of carbonatite, subject to product efficacy optimization. Payment terms for the initial volumes are $1 million upon execution of the Supply Agreement.

     About Carbonatite

Carbonatite is a carbonate-rich igneous rock formed from volcanic activity. The Spanish River deposit is distinguished by high concentrations of loosely bonded calcium, phosphorus, potassium, and magnesium, along with trace rare earth elements — and, notably, without the radioactive or toxic heavy metals found in many other carbonatite deposits worldwide.

What makes the mineral agriculturally valuable is its reactivity: its fragile primary mineral structure breaks down quickly once applied to soil, releasing nutrients directly into the root zone rather than remaining chemically locked in rock. In its natural setting, this process has visibly transformed the surrounding landscape — the deposit has saturated the local water table with calcium, phosphorus, and potassium, producing decades of exceptional forest growth around the site.

That same effect has been documented repeatedly in independent and field research. A Wilfrid Laurier University study1 found that SRC raises and stabilizes soil pH, more than doubles beneficial soil microbe populations, supports mycorrhizal fungi, and increases seed weight and crop yield at recommended application rates. Trials2 on wheat, soybeans, and cucumbers have shown statistically significant gains in root and shoot biomass, and soybean trials recorded a marked increase in nitrogen-fixing root nodules. In a multi-year Norfolk Soil and Crop Improvement Association trial3 on asparagus, SRC-treated plots produced 75% greater root mass, brix (sugar/nutrient) readings nearly double the control plots (12–13% vs. 7–8%), and a 10%+ yield increase — with no supplemental fertilizer. A test plot4 at Kerr Farms in Chatham, Ontario, a carbonatite application suppressed aluminum toxicity in soil by 78% while increasing plant calcium uptake by over 200% within five weeks, alongside improved crop density, weed suppression, and overall soil tilth and microbial activity.

Collectively, this body of evidence positions carbonatite as a natural, reactive mineral platform for regenerative soil fertility — restoring soil chemistry, rebuilding microbial ecosystems, and improving nutrient uptake without reliance on synthetic inputs.

Investor Rights Agreement

On closing of the Equity Investment, Replenish and SRC will enter into the Investor Rights Agreement. Pursuant to the Investor Rights Agreement, SRC will have the right to nominate one director to Replenish’s board of directors and the right to participate in future equity issuances of the Company to maintain SRC’s pro rata equity interest on the terms set out in the Investor Rights Agreement. Following closing of the Debenture Investment, SRC will have the right to nominate two directors to Replenish’s board of directors.

Following the closing of the Equity Investment, SRC CEO, Tim Close, will join Replenish’s board of directors, and SRC Director, Dr. David Morris, will join the Replenish board as an advisor until he is put forward as a director at Replenish’s next annual shareholder meeting.

About SRC Agrominerals

SRC is a privately-owned Canadian company and the owner of Spanish River Carbonatite reserves — a mineral deposit located outside of Sudbury, Ontario. SRC has spent 15 years commercializing the deposit, with its flagship product — Spanish River Carbonatite (SRC) — now OMRI and ProCert-listed for organic use and applied across hundreds of thousands of acres in row crops, vegetables, fruit, vineyards, landscaping, and environmental remediation.

About Replenish Nutrients

Replenish Nutrients manufactures and sells proprietary fertilizer products containing essential macro and micro nutrients and biological material while using a proprietary zero-waste manufacturing process. Replenish Nutrients is a wholly-owned subsidiary of Replenish Nutrients Holding Corp. (CSE: ERTH) (OTC: VVIVF). To learn more about Replenish visit our website at www.replenishnutrients.com.

For additional information, please contact:

Replenish Nutrients Investor Relations
Email: info@replenishnutrients.com

Sophic Capital
Sean Peasgood
Email: sean@sophiccapital.com

Notes

The fact sheets for carbonatite can be viewed here:

(1)

srcagrominerals.ca/fact-sheets

(2)

srcagrominerals.ca/a%26l-biological-report

(3)

srcagrominerals.ca/fact-sheets

(4)

srcagrominerals.ca/fact-sheets

Cautionary Note Regarding Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding: the completion, timing and terms of the $15 million Strategic Investment by SRC, including the closing of the $7.5 million Equity Investment and the $7.5 million Debenture Investment on or about July 24, 2026 and August 14, 2026, respectively, and the conditions to such closings, including the receipt of all necessary consents and regulatory approvals, including the approval of the Canadian Securities Exchange; the potential exercise of the Warrants, including the anticipated additional proceeds to the Company of up to approximately $5.63 million; the anticipated use of proceeds from the Strategic Investment, including the Beiseker Pelletization Expansion, working capital, inventory purchases, debt repayment and general corporate purposes; the anticipated timing for completion of the Beiseker Pelletization Expansion, its expected annual production capacity of 150,000 metric tonnes, and its expected gross margins of approximately 25% to 35%; the anticipated appointment of Tim Close and Dr. David Morris to the Replenish board of directors, the timing of those appointments, and the anticipated benefits of SRC’s board representation and governance rights, including SRC’s right under the Investor Rights Agreement to nominate two directors and to participate in future equity issuances to maintain its pro rata equity interest; the terms, duration and anticipated benefits of the 10-year Supply Agreement with SRC, including the incorporation of carbonatite into Replenish’s regenerative fertilizer products; the anticipated agronomic, soil health, crop yield and product-differentiation benefits of incorporating carbonatite into Replenish’s products, including as referenced in third-party research and field trial results; SRC’s initial 19.9% (non-diluted) equity interest in the Company and the potential for further dilution to existing shareholders; and the Company’s plans and opportunity to build a scalable regenerative fertilizer platform through strategic partnerships of this kind.

Forward-looking information is based on the beliefs, estimates and opinions of management as of the date such statements are made and involves a number of assumptions, including: the Strategic Investment will close on the anticipated terms and timing; all required regulatory and exchange approvals will be obtained; the Investor will fulfill its subscription and funding commitments; the Beiseker Pelletization Expansion will be completed on time; anticipated production capacity and gross margins will be achieved; the Supply Agreement will be executed and performed as contemplated; the anticipated agronomic and product benefits will be realized; key personnel will be appointed to the board of directors as expected; and the Company will have sufficient working capital to execute its growth plans.

These forward-looking statements also involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information, including, but not limited to: risks that the Strategic Investment does not close on the anticipated terms, timing, or at all, or that one or both tranches fail to close; risks related to shareholder and regulatory (including CSE) approval of the transaction; dilution to existing shareholders from the Equity Investment, Warrant exercise, and Debenture conversion; risks that the anticipated board appointments do not occur as contemplated or that governance changes affect the Company’s strategic direction; risks that the Supply Agreement does not deliver the anticipated commercial or product benefits, or that SRC is unable to fulfill its supply obligations; risks associated with reliance on a single or limited number of suppliers of carbonatite; risks that the anticipated agronomic, soil health, or product-differentiation benefits of carbonatite are not realized or cannot be substantiated, including because such benefits are based in part on third-party research not independently verified by the Company; risks associated with the commissioning, construction and ramp-up of the Beiseker Pelletization Expansion, including construction delays or cost overruns; risks that anticipated timelines, production volumes, or gross margins for the Beiseker Pelletization Expansion are not achieved; risks related to fertilizer commodity pricing and demand; risks related to the Company’s ability to raise additional capital and to maintain or expand its credit facilities; risks related to the Company’s going concern status; general business, economic, competitive, geopolitical and social uncertainties; regulatory risks; and the other risk factors disclosed in the Company’s public disclosure, which can be found under the Company’s profile on SEDAR+ at www.sedarplus.ca. Readers are cautioned that the foregoing list of risk factors is not exhaustive.

There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained in this press release is made as of the date hereof, and the Company does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Certain information contained in this press release regarding carbonatite, including statements regarding its composition, properties, agronomic benefits and referenced research and field trial results, has been obtained from third-party sources believed by the Company to be reliable. While such information is believed to be accurate, it has not been independently verified by the Company, and neither the Company nor its officers or directors makes any representation as to the accuracy or completeness of such third-party information.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Replenish Nutrients Holding Corp.

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HomeWAV Launches Exclusive Staff-to-Inmate Messaging™ Feature for Correctional Facilities

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New solution enables staff instant two-way communication to reach inmates

ST. LOUIS, July 20, 2026 /PRNewswire/ — HomeWAV, the leader in simple, secure inmate communication and technology solutions, is proud to announce the launch of Staff-to-Inmate Messaging™, a groundbreaking, exclusive new product feature that gives correctional facilities a powerful new way to communicate directly with inmates, streamlining operations while improving visibility, accountability, and information delivery across the facility.

Staff-to-Inmate Messaging™ gives facility staff a secure, instant way to send text-based messages directly to inmates. While Forms provides a valuable, guided outlet for inmates to submit the right information to staff, it does not allow staff to initiate those communication threads when outreach is needed. Staff-to-Inmate Messaging™ fills that gap while creating guardrails that help staff confirm inmates have reviewed a message and prevent teams from being inundated with unnecessary replies.

“As we invested in strengthening our Forms platform, we continually looked for ways our system could better support administrators throughout their daily operations where every minute matters,” said Andrew Lewis, Senior Director of Product at HomeWAV. “Through that process, we identified a need for a faster, more efficient way for staff to initiate communication. Staff-to-Inmate Messaging™ transforms routine communication from a manual process into a secure, text-based conversation, allowing facilities to communicate with individuals or groups in seconds while maintaining the visibility and controls required in a correctional environment.”

Launching in a phased approach, Staff-to-Inmate Messaging™ will be available on both HomeWAV kiosks and tablets. This exclusive feature gives facilities an innovative, purpose-built product capability competitors do not offer, helping staff quickly share housing changes, program schedules, facility-wide announcements, and other critical updates without relying on time-consuming in-person communication.

Staff-to-Inmate Messaging™ empowers facilities to:

Deliver secure messages to individual inmates, specific PODs, or the entire facility in secondsReduce staff time spent communicating routine announcements and operational updatesMaintain a centralized, trackable record of communications for greater visibility and accountabilityRequire inmate acknowledgment for critical messages when confirmation is neededControl inmate response permissions based on facility policies and operational requirementsImprove coordination across shifts, departments, and housing units

The launch of Staff-to-Inmate Messaging™ reinforces HomeWAV’s commitment to developing innovative technology that helps correctional facilities operate more efficiently, communicate more effectively, and maintain safer, better-connected environments for staff and inmates alike.

Current HomeWAV facility partners interested in enabling Staff-to-Inmate Messaging™ should contact their dedicated Regional Operations Manager to learn more. Correctional facilities interested in HomeWAV’s communication and technology solutions can visit https://www.homewav.com/corrections/contact-homewav/ for additional information.

About HomeWAV

Founded in 2011, HomeWAV LLC has remained the industry leader in providing simple, secure inmate communication and technology solutions to correctional facilities across the country. Headquartered in St. Louis, Missouri, HomeWAV’s all‑in-one patented platform offers video and voice calling, secure messaging, investigative tools, background filtering, tablet‑based access to education, entertainment, reentry resources, and more. Serving facilities in over 30 states, HomeWAV supports millions of users nationwide and reinvests in its purpose-built technology, upholding its pillars of Integrity, Innovation, and Impact to keep facilities safe and communities connected. For more information, visit HomeWAV at www.homewav.com and on LinkedIn and Facebook.

Media Contact:

Amanda Jasper

a.jasper@homewav.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/homewav-launches-exclusive-staff-to-inmate-messaging-feature-for-correctional-facilities-302827607.html

SOURCE HomeWAV

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