Breakout #6 CEM Muskoka 🏆 Results

Change, growth and opportunities dominate Muskoka Capital Event

Change, growth, and opportunity emerged as the key themes for the select group of investors and entrepreneurs who had gathered for CEM’s 12th Annual Muskoka Capital Event last weekend.

Amidst the picturesque autumn scenery of the Muskoka woods in Ontario, this exclusive summit also reinforced the crucial role of sustained market confidence in supporting emerging ventures and driving innovation for long-term profitability.

Through carefully curated one-on-one meetings, companies and financiers held in-depth discussions, not just to talk deals, but to forge deeper, lasting connections that will fuel the next wave of success. These personalized interactions provided a fertile ground for partnership-building and capitalizing on emerging trends in today’s market environment.

As per all events hosted by CEM — North America’s premier platform for entrepreneurial and finance-driven dialogue — attendees selected their Top Picks at the gathering’s signature Investor Breakout Exchange.

Here are your early and exclusive insights into the Top 5 Picks that captivated investor attention at CEM’s 12th Annual Muskoka Capital Event.

Top Picks:

TSX-V: MMA / OTC: MDNGF

Midnight Sun Mining Corp.

Midnight Sun, which garnered Top Pick status at the TSX Venture Growth 2024 conference in Kelowna this past summer, was once again in the limelight in Muskoka. The company is focused on exploring its flagship Solwezi Project located in the heart of the Zambia-Congo Copperbelt, the second largest copper producing region in the world. The vast property is highly prospective and is surrounded by world-class producing copper mines, including Africa’s largest copper mining complex right next door - First Quantum’s Kansanshi Mine. Led by an experienced geological team with multiple discoveries and mines around the world to their credit, Midnight Sun intends to find and develop Zambia’s next generational copper deposit.

Why it was picked:

• Midnight Sun's ambitions have attracted heavyweight partners. The company has forged a groundbreaking alliance with KoBold Metals, a cutting-edge exploration firm backed by tech luminaries such as Bill Gates. This partnership, focused on the Dumbwa target - one of four prime targets within Midnight Sun's Solwezi copper project - injects $15 million USD into aggressive exploration efforts over the next 4.5 years. Midnight Sun has also identified multiple high-grade zones of oxide copper mineralization at or near the surface across its Solwezi Project
• Established a cooperative exploration plan with First Quantum Minerals Ltd. to jointly define potential feed sources for First Quantum's SX/EW oxide copper circuit at the Kansanshi Mine. This collaboration potentially leads to near-term positive cash flow for Midnight Sun through the processing of material from its property. Midnight Sun has also recently kicked off a new exploration program at the Kazhiba target that lies within its Solwezi copper project.
• The copper crisis looming on the horizon threatens to derail the global push for clean energy and electrification. McKinsey & Co. paints a grim picture, forecasting a mere 30.1 million tons of copper production by 2031 - a shortfall of 6.5 million tons that threatens to strangle the electric revolution. The International Energy Agency's projections are equally dire, warning that global copper mines will fall catastrophically short, meeting a mere 80% of the world's ravenous copper needs by 2030. By focusing on near-term oxide copper production, leveraging strategic partnerships, and aggressively exploring its highly prospective property, Midnight Sun is positioning itself as a significant contributor to addressing the global copper supply deficit in the coming years.

TSXV: RGC

Relevant Gold Corp.

Relevant Gold Corp. is focused on the acquisition, exploration, discovery, and development of district-scale gold projects in the state of Wyoming – one of the most mining-friendly jurisdictions in the United States and globally. The company holds over 40,000 acres of mineral rights across two main camps in the state. Relevant’s team believes the Golden Buffalo – its flagship asset - has mineralogy similar to that of the Abitibi region in Canada, which is known for its gold production. It aims to unlock the potential for major gold discoveries in Wyoming, leveraging the geological similarities with the Abitibi region to guide their exploration efforts and attract investor interest.

Why it was picked:

• The Abitibi Gold Belt in Ontario and Quebec has produced over 200 million ounces of gold, making it one of the world's most prolific gold-producing regions. Relevant Gold's theory suggests that Wyoming may have similar gold potential to the Abitibi, as it contains rocks of the same age and type that hosted gold mineralization in the Abitibi. The company controls five large-scale properties in Wyoming, giving investors exposure to what could potentially be an entire gold belt, similar to the Abitibi.
• Recently announced final results from a 2024 geologic mapping and rock chip sampling program at its 100% owned Bradley Peak Gold Camp in central Wyoming demonstrate widespread high-grade gold and copper mineralization.
• Wyoming is becoming a top global mining jurisdiction and in the current rising gold environment, Relevant provides investors first-mover exposure to an emerging pipeline of belt-scale gold opportunities.

TSXV: ROOF

Northstar Clean Technologies Inc.

Northstar Clean Technologies Inc. is a Canadian company focused on the sustainable recovery and reprocessing of asphalt shingles. Northstar has developed a proprietary design process for taking discarded asphalt shingles, otherwise destined for already overcrowded landfills, and extracting the liquid asphalt for use in new hot mix asphalt, shingle manufacturing and asphalt flat roof systems. Focused on the circular economy, Northstar plans to reprocess used or defective asphalt shingle waste back into its three primary components for reuse/resale at its first commercial scale up facility in Calgary, Alberta. Northstar's mission is to be the leader in the recovery and reprocessing of asphalt shingles in North America.

Why it was picked:

• Northstar has developed a proprietary technology to reprocess discarded asphalt shingles, extracting valuable components like liquid asphalt, aggregate, and fiber for reuse in construction and industrial applications. This aligns with the growing investor focus on sustainable and circular economy solutions, addressing the issue of waste management while creating valuable products.
• The company has secured important partnerships and supply agreements, demonstrating the viability of its business model. These include raw materials supply agreements with Ecco Recycling, a leading waste diversion provider in Calgary and IKO Industries Ltd., Canada's leading asphalt shingle manufacturer.
• Northstar is positioned for rapid expansion after recently receiving $14 million in funding from CVW CleanTech to accelerate the development of its facilities. This funding reduces Northstar's need for near-term equity capital raising and adds financing optionality for future growth. The company’s strategic partnership with TAMKO Building Products has also identified initial U.S. expansion plans.

Cboe: VERS

VERSES AI Inc.

VERSES, a cognitive computing company developing next-generation intelligent software systems, returned to the Top 5 list in Muskoka after impressing investors at the CEM conference in Bermuda earlier this year. Its flagship offering, Genius, is the world's first natural computing system modeled on proven neuroscience principles about how the brain works. It is a new class of intelligent software systems that transcend the capabilities of today’s AI platforms. In simple terms, Genius is an advanced AI system modeled on biological intelligence that can learn and adapt more like humans by making sense of varied data sources.

Why it was picked:

• VERSES recently announced the first in a series of joint smart city projects with Analog, an edge computing company, to simulate taxi fleet management in Abu Dhabi. The project objectives include increasing the number of taxis in operation during designated periods of high demand; determining the optimal allocation of tasks for each taxi and driver; and automatically scheduling and conducting maintenance activities. This pilot project is the first in a series of commercial projects that VERSES and Analog expect to develop together in Abu Dhabi with expected generated revenue for VERSES of approximately US$3,000,000.
• As an early-stage AI company in a rapidly expanding field, VERSES is actively expanding its product offerings. Recently, the company announced the Genius Public Beta Preview, in collaboration with notable partners such as Nalantis, Cortical Labs, SimWell, NASA’s Jet Propulsion Laboratory (JPL), Volvo Cars, and Blue Yonder.
• VERSES was recently featured in Gartner’s 2024 Hype Cycle for Artificial Intelligence report, widely regarded as the 'gold standard' for technology insights, shaping the investment strategies of Fortune 500 companies.

TSXV: BOGO

Borealis Mining Company Ltd.

Borealis is a gold mining and exploration company focused on restarting production at the Borealis Mine in Nevada. The property spans approximately 15,020 acres, consisting of 751 unpatented mining claims, each around 20 acres, and a five-acre unpatented mill site claim, located in western Nevada. The property is highly prospective for additional high-sulfidation gold mineralization. Borealis is led by a strong board and management team, many of whom have founded, managed, and sold highly successful mining and exploration companies.

Why it was picked:

• The Borealis mine property has historically produced over 600,000 ounces of gold from an open pit heap leach operation. It is an under-explored property and has not been drilled since 2011. The property possesses high grade expansion potential with excellent historical drilling results, along with a number of untested regional targets.
• With an operational mine and existing gold production, Borealis has the potential for near-term revenue generation. The company completed its first gold pour of 2024 in August. Borealis’ target is to eventually produce over 100,000 oz of gold annually with additional equipment and permit amendments.
• Borealis is unique to many of its peers in the junior exploration sector, in that it is revenue generating with control of a fully permitted mine and ADR facility. It also plans to process a 330,000-tonne stockpile of ore to generate meaningful gold production in the short term.

Honourable Mentions:

The following companies also garnered significant attention at the Investor Breakout Exchange in Muskoka, due to their robust fundamentals and impressive growth trajectories:

It’s barely been a week since the gathering in Muskoka, but several participating companies and investors are reporting a surge in deal flows and collaborations. Riding this momentum, the Top 5 Picks from the Investor Breakout Exchange are now primed to garner further investor attention. In the coming weeks, we'll unveil an exclusive series of Spotlight Features, delving deep into what made these standout companies the talk of Muskoka.

Next Stop: Florida

Mark your calendars!

CEM is proud to announce the 8th annual Florida Capital Event, scheduled for November 22 to November 24, 2024, at the JW Marriott Miami Turnberry Resort & Spa in Aventura, Florida. This elite conference, marking one of the first major investor gatherings post-U.S. elections, is designed to foster strategic connections between companies and top capital finance leaders through carefully arranged one-on-one meetings and dynamic networking activities.

Warm Regards and Happy Investing,
Fabian Dawson