Author: Ravi Shankar

WASHINGTON, Nov. 12, 2026 (GLOBE NEWSWIRE) — Aeternum Resources, Inc. (OTC: AETN) (“Aeternum Resources” or the “Company”), a company aiming to become a highly strategic supplier of critical minerals, today announced that it will be attending Resourcing Tomorrow, a leading international mining conference, bringing together industry executives, investors, and policymakers to discuss the future of mining and global supply chain security.

The Company invites participants to attend a presentation by Chief Executive Officer, Josua Oosthuizen at 3:10 PM, Greenwich Mean Time, Dec 2nd. The company also invites interested parties to listen to incoming coming board member John Melkon speak across multiple panels throughout the event.

About Aeternum Resources

Aeternum Resources, Inc. (OTC: AETN) seeks to become a highly strategic supplier of critical minerals.  Its first project is a planned mine located in the Jos Plateau in Nigeria that will focus on the production of tin, niobium, tantalum and other metals.

Led by a management team with a track record of designing, building and commissioning mineral-processing plants in Africa, and supported by independent geological and metallurgical consultants, Aeternum Resources’ goal is to develop multiple assets globally and create a diversified revenue stream from several critical minerals.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. These statements are based on current expectations as of the date of this press release and involve risks and uncertainties that may cause results to differ materially from those indicated by these forward-looking statements. These forward-looking statements include, among other things, statements regarding the anticipated attendance at the Resources Tomorrow conference, becoming a highly strategic supplier of critical minerals and engaging in mining operations in Nigeria.  These risks and uncertainties include, but are not limited to, additional financing requirements; current and future indebtedness; the Company’s history of losses and negative operating cash flow; the Company may be unable to complete the acquisitions of the Gyel and Nkamouna projects; required regulatory approvals may not be obtained or maintained; absence of mineral resources, mineral reserves and technical report summaries; uncertainty of historic resource estimates; risks inherent in the exploration and development of mineral projects; metal price fluctuations; currency fluctuations; fluctuations in other costs; political and country risks, including the risks of doing business in Nigeria and Cameroon; the Company’s ability to bring properties into a state of commercial production; the impact of tariffs or trade barriers; the impact of pandemics; the ability to identify, acquire and integrate accretive projects and businesses; and stock price volatility. We encourage readers to review the “Risk Factors” in our Form 8-K filed July 7, 2026, and other filings with the Securities and Exchange Commission for a comprehensive understanding. The Company undertakes no obligation to revise or update any forward-looking statements, except as required by applicable laws or regulations, to reflect events or circumstances after the date of this press release.

Contact:
info@aeternumresources.com

TORONTO, Nov. 12, 2026 (GLOBE NEWSWIRE) — (TSX: CGX) – Cineplex, Canada’s leading entertainment and media company, has invested over a million dollars to bring laser projection to all 20 screens at Cineplex Cinemas Queensway and VIP. The Etobicoke theatre is heading into its 25th anniversary with a whole new picture. The upgrade is a long-term commitment to the community that has made Queensway one of Cineplex’s busiest locations since 2001.

Last August, Cineplex confirmed it had renewed its lease, with options to remain on site until 2045, and hung two banners on the building promising “No end credits in sight. Your neighbourhood cinema for years to come.” The new Barco laser projectors put that promise on every screen.

Barco laser projection delivers a brighter, sharper image with vivid colours for high-quality movie presentation that remains consistent from the first matinee to the last late show. Guests will notice it the moment the lights go down, in every auditorium in the building.

“Queensway has been part of this community’s movie nights for 25 years, and the support our guests have shown over the past year has meant a lot to all of us,” said Kevin Watts, Executive Vice President, Exhibition, LBE and Film, Cineplex. “When we told the neighbourhood we weren’t going anywhere, we meant it. This investment is one way we’re showing it, and we’ll keep improving the sound and picture at Queensway for years to come.”

“Every week someone tells us they saw their first movie here and now a lot of them are bringing their own kids,” said Dave Woods, General Manager, Cineplex Cinemas Queensway and VIP. “In addition to our VIP, UltraAVX and ScreenX experiences, giving our community the best picture we’ve ever had is a pretty great feeling.”

The upgrade builds on the theatre’s 2014 VIP expansion and is the latest step in Cineplex’s ongoing investment in the Queensway. The theatre opened in November 2001 and marks its 25th anniversary next month.

About Cineplex

Cineplex (TSX:CGX) is a top-tier Canadian brand that operates in the Film Entertainment and Content, Amusement and Leisure, and Media sectors. Cineplex offers a unique escape from the everyday to millions of guests through its circuit of 169 movie theatres and location-based entertainment venues. In addition to being Canada’s largest and most innovative film exhibitor, the company operates Canada’s favourite destination for ‘Eats & Entertainment’ (The Rec Room), complexes specially designed for teens and families (Playdium), and an entertainment concept that brings movies, amusement gaming, dining, and live performances together under one roof (Cineplex Junxion). It also operates successful businesses in cinema media (Cineplex Media), alternative programming (Cineplex Events) and motion picture distribution (Cineplex Pictures). Providing even more value for its guests, Cineplex is a partner in Scene+, Canada’s largest entertainment and lifestyle loyalty program.

Proudly recognized as having one of the country’s Most Admired Corporate Cultures, Cineplex employs over 10,000 people in its offices and venues across Canada. To learn more, visit Cineplex.com.

Cineplex Media Relations: 
PressRoom@Cineplex.com

• CRMN has executed a new term sheet for the acquisition of SuperCritical Materials, a developer of proven uranium and critical metals extraction from seawater technology.
• American-developed technology to become a powerful driver of domestic security of supply of nuclear fuels and critical metals for industry, technology and defense.
• US-DOE developed technology is proven to extract uranium and other critical metals from seawater.
• The Company expects the SuperCritical business combination to close shortly after the expected distribution of the Cove Kaz value to Skyline shareholders which is anticipated to occur during 1Q 2027 to shareholders.

GRAND CAYMAN, Cayman Islands, Nov. 12, 2026 (GLOBE NEWSWIRE) — Skyline Builders Group Holding Limited (NASDAQ: CRMN) (“Skyline” or “the Company”), a holding company seeking to become a highly strategic supplier of critical minerals and nuclear fuels prioritizing the security of supply for US customers, today announced that it entered into a term sheet to acquire SuperCritical Materials (“SuperCritical”), a company focused on the development and deployment of uranium and critical metals extraction from seawater infrastructure in the United States.

The Company signed a non-binding letter of intent in November 2025, which was then terminated upon the announcement of the BCA with Cove Kaz in May 2026. During the last 12 months strategic and institutional investors, including American Ventures, have provided approximately $4.5 million of funding to SuperCritical Materials to allow it to advance its development and deployment plans. Considerable progress, described below, has been achieved.

SuperCritical Materials is Developing a New Source of Uranium for the Next Nuclear Age
SuperCritical Materials is working to transform one of the world’s largest untapped uranium resources—the oceans—into a scalable source of nuclear fuel. The world’s oceans contain an estimated 4.5 billion metric tons of dissolved uranium, creating the potential for a vast, globally distributed resource that could complement conventional uranium production as nuclear energy expands.

SuperCritical Materials holds an exclusive commercial license to uranium-selective adsorbent technology developed through decades of U.S. government research, including work led by the U.S. Department of Energy’s Pacific Northwest National Laboratory (PNNL). It uses specialized adsorbent materials that capture dissolved uranium as seawater passes across them. The adsorbent is then retrieved, the uranium recovered, and the material prepared for repeated deployment cycles.

SuperCritical Materials is now focused on the engineering challenge of moving this technology from laboratory science toward industrial-scale offshore operations. Working with leading engineering, research and technology partners, the company is developing and testing the systems required to deploy, recover and reuse adsorbents in marine environments, while evaluating the performance, durability and economics required for commercial production.

In the past 18 months, SuperCritical has entered into strategic partnerships with Kellogg Brown & Root, University of Michigan and others to work on the deployment plan. By bringing together SuperCritical’s specialized technical team with the capabilities of major industrial partners, the company aims to accelerate the path from scientific innovation to repeatable, cost-competitive production.

The opportunity is increasingly important as nuclear energy expands to meet rising electricity demand from AI, data centers, electrification and energy security. The United States currently relies heavily on foreign sources of uranium and nuclear fuel-cycle services. Developing an additional domestic source of uranium could strengthen the resilience of the U.S. nuclear fuel supply chain while creating new industrial capabilities and high-quality jobs, including opportunities in Gulf Coast communities with deep expertise in offshore engineering and energy infrastructure.

The Company’s work also aligns with U.S. policy priorities supporting increased domestic mineral production, development of offshore critical resources and expansion of the nation’s nuclear industrial base. Its technical leadership includes scientists with direct experience in the U.S. government research program that helped advance uranium extraction from seawater. Dr. Gary Gill, a founder and senior technical advisor to SuperCritical and former Deputy Director of PNNL’s Marine Sciences Division, has decades of experience in chemical oceanography and uranium-from-seawater research and has contributed extensively to scientific literature in the field.

For 80 years, the nuclear age has depended on uranium we could find beneath our feet. SuperCritical Materials and its partners are working to determine whether the next nuclear age can also be fueled by what has been around us all along.

Paul Mann, CRMN’s executive chairman, said, “The United States is in urgent need of domestic supplies of critical materials. SuperCritical’s technology will allow it to be a cost-competitive supplier of uranium and other critical metals for the United States, thereby securing a domestic supply chain, and most importantly, promising a rapid scale-up of production, which land-based uranium mines have so far failed to do.”

The United States currently imports over 95% of its uranium supply. Uranium-based fuels are responsible for generating nearly 20% of total electricity in the United States, and the United States has pledged to quadruple nuclear energy capacity by 2050. In order to achieve this, a secure and scalable supply chain of uranium is required.

SuperCritical has made considerable achievements during the past eighteen months.
Since March 1, 2025, SuperCritical has been engaged in a formal engineering program, with the objective of establishing the technical and economic feasibility of industrial-scale production in the United States. The Company has since completed: a pre-conceptual design report; a conceptual design report; a scoping study; and is now engaged in the preliminary economic assessment (“PEA”). The successful completion of the PEA will trigger the pre-feasibility study; to be followed by the pre-FEED (Front-End Engineering Design) study; and finally the definitive feasibility-FEED study, which will definitively establish the bankability of the first industrial-scale deployment project off the coast of Texas. So far, the PEA has returned very promising results. Upon completion of this study, results will be publicly disclosed.

Transaction Details
The non-binding term sheet envisages that Skyline will own 51% of the combined entity, current SuperCritical shareholders will own 44% of the combined entity and new investors expected to invest $10m via a private placement into SuperCritical will own 5% of the combined entity.

The parties expect to enter into a share exchange agreement (the “Merger Agreement”) pursuant to which Skyline would exchange a preferred share with SuperCritical shareholders for their shares (collectively the “Parties”). Skyline will then file a proxy statement for shareholder approval on the conversion of the preferred shares into common shares and seek SEC and Nasdaq approval, including a new listing application (collectively, the “Transaction”).

The Transaction is expected to close during 1Q 2027, after the anticipated distribution of value from its ownership in Cove Kaz, as previously disclosed. That distribution is expected to occur in the most tax efficient manner and currently is expected to be distributed to Skyline shareholders on a record date which is expected to be during 4Q 2026.

ABOUT SKYLINE BUILDERS GROUP HOLDING LIMITED
Skyline Builders Group Holding Limited (NASDAQ: CRMN) is a Cayman Islands exempted company with limited liability with its main assets focused on the construction industry in Asia.

In the third quarter of 2025, a group of US investors, led by American Ventures, took control of the Company via a significant cash injection with a goal to divest of the legacy Asian construction business and acquire assets in the critical material supply chain.

Skyline seeks to become a highly strategic supplier of critical minerals and nuclear fuels and will focus on prioritizing security of supply for US customers. In November 2025, it subscribed for an approximate 20% membership interest in Kaz Resources LLC, a company involved in the critical materials supply chain.

ABOUT SUPERCRITICAL MATERIALS
SuperCritical Materials is developing industrial-scale nuclear fuel production infrastructure. The Company is focused on expanding future fuel availability for the growing global nuclear energy sector and strengthening U.S. energy security. To learn more, please visit: www.supercritical.one.

FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements that are subject to various risks and uncertainties. These forward-looking statements include statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential,” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including but not limited to: (i) the risk that the proposed transactions described in the term sheet may not be completed in a timely manner or at all, which may adversely affect the price of Skyline’s securities; (ii) the failure to satisfy the conditions to the consummation of the proposed transaction, including the approval of the proposed transaction by the shareholders of Skyline and the receipt of certain governmental, regulatory and third party approvals; (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the transaction; (iv) the failure to meet Nasdaq listing standards in connection with the consummation of the proposed transaction; (v) the effect of the announcement or pendency of the proposed transaction on the Skyline’s and SuperCritical’s business relationships, operating results, and business generally; and (vi) risks that the proposed transaction disrupts current plans and operations of Skyline and Supercritical. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.

NO OFFER OR SOLICITATION
 This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities and shall not constitute an offer to sell or a solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom.

For more information, please contact:

Skyline Builders Group Holding Limited
Investor Relations Department
Email: investors@skylinebuildersgroupholding.com 

OLD GREENWICH, Conn., Nov. 12, 2026 (GLOBE NEWSWIRE) — Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) (“Star” or the “Company”), a diversified holding company, announced today that its wholly owned subsidiary, KBS Builders, Inc. (“KBS”), has signed an approximately $2 million contract to manufacture a workforce housing project on Nantucket, Massachusetts.

The contract covers the manufacture of 12 modules to provide approximately 8,000 square feet of workforce housing. The two-story building is designed with a 140-mph wind rating and additional features to enhance safety in Nantucket’s coastal weather environment. Production has already commenced and delivery is projected before year end 2026. Workforce housing and assisted living now represent a growing share of the Building Solutions division’s backlog.

Jeff Eberwein, CEO of Star, noted, “We are proud to win another workforce housing contract on Nantucket, reinforcing our strong market presence in the region as well as the continued confidence our customers place in KBS’s modular solutions. Winning repeat business on Nantucket is the clearest evidence that KBS delivers on schedule and on budget in one of the most logistically demanding markets in New England, and these awards improve factory utilization and the earnings power of our Building Solutions division.”

Thatcher Butcher, President of KBS, added, “This award highlights KBS’s ability to take on a logistically challenging island project and deliver it with certainty, speed, and quality. Building in a controlled factory environment removes weather risk from the critical path and compresses the on-site schedule – advantages that are magnified on an island where every material and trade must be delivered by water. We are proud of this project and look forward to continuing to partner with the Nantucket community to deliver more high-quality housing to the island.”

KBS Builders has established itself as a leader in modular construction, providing customized solutions for multifamily, workforce housing, student housing, and hospitality sectors. By combining precision manufacturing with streamlined logistics and installation processes, KBS enables developers to accelerate project timelines while maintaining consistent quality and cost control.

About Star Equity Holdings, Inc.
Star Equity Holdings, Inc. is a diversified holding company that seeks to build long-term shareholder value by acquiring, managing, and growing businesses with strong fundamentals and market opportunities. Its current structure comprises four divisions: Building Solutions, Business Services, Energy Services, and Investments. For more information visit www.starequity.com.

Building Solutions
The Building Solutions division operates in three specialties: (i) modular building manufacturing; (ii) structural wall panel and wood foundation manufacturing, including building supply distribution operations; and (iii) glue-laminated timber (glulam) column, beam, and truss manufacturing.

Business Services
The Business Services division provides flexible and scalable recruitment solutions to a global clientele, servicing organizations at all levels, from entry-level positions to the C-suite. The division focuses on mid-market and enterprise organizations worldwide, partnering consultatively with talent acquisition, HR, and procurement leaders to build diverse, high-impact teams and drive business success.

Energy Services
The Energy Services division engages in the rental, sale, and repair of downhole tools used in the oil and gas, geothermal, mining, and water-well industries.

Investments
The Investments division manages and finances the Company’s real estate assets as well as its investment positions in private and public companies.

Forward-Looking Statements

This press release contains statements that the Company believes to be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the Company’s future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “predict,” “believe,” and similar words, expressions, and variations of these words and expressions are intended to identify forward-looking statements. All forward-looking statements are subject to important factors, risks, uncertainties, and assumptions, including industry and economic conditions that could cause actual results to differ materially from those described in the forward-looking statements. Such factors, risks, uncertainties, and assumptions include, but are not limited to, (1) global economic fluctuations, (2) changes in the cost and availability of commodities, materials, and equipment, (3) risks related to providing uninterrupted service to clients, (4) the ability of clients to terminate their relationship with the Company at any time, (5) risks associated with real estate ownership, (6) the Company’s ability to successfully achieve its strategic initiatives, (7) risks related to fluctuations in the Company’s operating results from quarter to quarter, (8) risks related to potential acquisitions or dispositions of businesses by the Company, (9) our profitability and growth being tied to the success of our operating businesses, (10) risks associated with our financial investments in other businesses, (11) our ability to improve existing products and services and develop, introduce, and market new products and services successfully, (12) the loss of or material reduction in our business with any of the Company’s largest customers, (13) competition in the Company’s markets, (14) risks related to potential decreases in demand for products, (15) our ability to maintain costs at an acceptable level, (16) the negative cash flows and operating losses that may recur in the future, (17) risks related to international operations, including foreign currency fluctuations, political events, trade wars, natural disasters or health crises, including the Russia-Ukraine war, and potential conflict in the Middle East, (18) risks relating to how future credit facilities may affect or restrict our operating flexibility, (19) our ability to generate or borrow sufficient cash to make payments on our indebtedness, (20) risks related to indebtedness, (21) risks associated with the Company’s investment strategy, (22) the Company’s dependence on key management personnel, (23) the Company’s ability to attract and retain highly skilled professionals, management, and advisors, (24) the Company’s ability to collect accounts receivable, (25) the Company’s exposure to legal proceedings, investigations and disputes, and limits on related insurance coverage, (26) the Company’s ability to utilize net operating loss carryforwards, (27) the potential for goodwill impairment, (28) volatility of the Company’s stock price, (29) risks related to our historically low trading volume, (30) risks related to securities or industry analysts, (31) the Company’s ability to declare dividends, (32) risks associated with failure to pay dividends on our Series A Preferred Stock, (33) our history of annual net losses, (34) risks related to our international operations, (35) risks related to compliance with federal and state laws, regulations, and other rules, (36) our exposure to employment-related claims, legal liability, and costs from clients, employees, and regulatory authorities, (37) risks related to the imposition of licensing or tax requirements or new regulations, (38) the effect of Anti-takeover provisions in our organizational documents, (39) the effect of the protective amendment contained in our Restated Certificate of Incorporation, (40) the impact of our stockholder rights plan, or “poison pill,” on stockholder decision making, (41) risks related to our scaled disclosure requirements as a smaller reporting company, (42) the Company’s heavy reliance on information systems and the impact of potentially losing or failing to develop technology, (43) the adverse impacts of cybersecurity threats and attacks, and (44) risks related to the use of new and evolving technologies, and (45) those risks set forth in “Risk Factors in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.” The foregoing list should not be construed to be exhaustive. Actual results could differ materially from the forward-looking statements contained in this press release. In view of these uncertainties, you should not place undue reliance on any forward-looking statements, which are based on our current expectations. These forward-looking statements speak only as of the date of this press release. The Company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information contact:
The Equity Group
Lena Cati
Senior Vice President
212-836-9611
lena.cati@theequitygroup.com

Leadership to Host Webcast and Conference Call on Wednesday, November 18 at 9:00am EST

NEW YORK and PITTSBURGH, Nov. 12, 2026 (GLOBE NEWSWIRE) — Terra Innovatum Global N.V. (NASDAQ: NKLR) (“Terra Innovatum” or the “Company”), developer of the SOLO™ micro-modular reactor, today announced that it will release its business and financial update for the third quarter ended September 30, 2026, before the market opens on Monday, November 16, 2026.

CALL DETAILS

Alessandro Petruzzi, Co-Founder and Chief Executive Officer and Katherine Williams, Chief Financial Officer, will host a Zoom webinar on Wednesday, November 18, 2026, at 9:00 a.m. Eastern Time to discuss the Company’s operational progress, commercial developments, and financial position.

The live webinar will be available through the Investor Relations section of the Company’s website at investors.terrainnovatum.com and via https://us06web.zoom.us/webinar/register/WN_0AHqiLKmTk-CJIEtDBkLgw#/registration.

To join the webinar, register using the link provided above. Upon registration, a Zoom link will be emailed to the registered email address. The webinar will be available via computer, tablet, and smartphone devices.

Alternatively, to join the live call, dial +1 (646) 931-3860 (United States) and enter Webinar ID 85879245196 approximately ten minutes before the scheduled start. Callers dialing in using a telephone will automatically be placed in a listen-only mode. The question period will not be available to dial-in callers.

A replay will be available at investors.terrainnovatum.com approximately three hours after the conclusion of the live event.

ABOUT TERRA INNOVATUM & SOLO™

Terra Innovatum is advancing innovative, sustainable nuclear energy solutions through the SOLO™ Micro-Modular Reactor. Conceptualized in 2018 and engineered over six years by experts in nuclear safety, licensing and R&D, SOLO™ is designed for efficient today’s world commercial deployment; using readily available commercial components to reduce supply-chain risk and improve cost predictability. Running on the only commercially available and non-proliferant fuel LEU, its flexible platform is designed to support LEU+ and transition to future fuel options, including HALEU.

SOLO™ is designed to provide CO₂-free, behind-the-meter and off-grid consistent power and heat for data centers, remote communities and energy-intensive industries including cement, oil and gas, steel and mining, desalination, water treatment and co-generation, as well as defense installations. Its modular architecture can scale from individual units of 1MWe to deployments of 1 GW or more, while also supporting specialized applications such as medical radioisotope production.

To learn more, visit: https://investors.terrainnovatum.com/.
Follow us on X: https://x.com/TerraInnovatum
and LinkedIn: https://www.linkedin.com/company/terra-innovatum-solo/.

CONTACTS

Giordano Morichi
Founding Partner, Managing Director of Global Business Development and Investor Relations
Terra Innovatum Global N.V.
E: g.morichi@terrainnovatum.com
W: www.terrainnovatum.com

Investor and Media Relations
Simon Willcocks, Alliance Advisors IR
E: investors@terrainnovatum.com

FORWARD-LOOKING STATEMENTS

This press release includes “forward-looking statements” within the meaning of the federal securities laws, including, but not limited to, opinions and projections prepared by Terra Innovatum’s management. Forward-looking statements generally relate to future events or future financial or operating performance, including pro forma and estimated financial information, and other “forward-looking statements” (as such term is defined in the Private Securities Litigation Reform Act of 1995). The recipient can identify forward-looking statements because they typically contain words such as “outlook,” “believes,” “expects,” “will,” “projected,” “continue,” “increase,” “may,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negatives or variations of these words or other comparable words and/or similar expressions (but the absence of these words and/or similar expressions does not mean that a statement is not forward-looking).

These forward-looking statements specifically include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, projections of market opportunity and market share, expected timing for regulatory approvals and commercialization and the potential success of Terra Innovatum’s strategy and expectations. Forward-looking statements, opinions and projections are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of Terra Innovatum’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Terra Innovatum’s control. These uncertainties and risks may be known or unknown.

Factors that may cause actual results to differ materially from current expectations include, but are not limited to: changes in domestic and foreign business, market, financial, political and legal conditions; future global, regional or local economic and market conditions; the development, effects and enforcement of laws and regulations; Terra Innovatum’s ability to manage future growth; Terra Innovatum’s ability to develop new products and services, bring them to market in a timely manner, and make enhancements to its platform; the effects of competition on Terra Innovatum’s future business; and the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries and other risks and uncertainties described under the heading “Risk Factors” in documents Terra Innovatum files from time to time with the Securities and Exchange Commission including Form 10-Q for the quarter ended June 30, 2026. If any of these risks materialize or Terra Innovatum’s assumptions prove incorrect, actual results could differ materially from the results implied by the forward-looking statements contained herein. In addition, forward-looking statements reflect Terra Innovatum’s expectations and views as of the date of this press release. Terra Innovatum anticipates that subsequent events and developments will cause its assessments to change. However, while Terra Innovatum may elect to update these forward-looking statements in the future, it specifically disclaims any obligation to do so. Accordingly, you should not place undue reliance on the forward-looking statements, which speak only as of the date they are made.

SPRING BRANCH, Texas, Nov. 12, 2026 (GLOBE NEWSWIRE) — Callan JMB Inc. (NASDAQ: CJMB) (“Callan JMB” or the “Company”), a provider of logistics, emergency preparedness, and critical supply chain solutions for the healthcare industry and government organizations, today announced that CEO Wayne Williams and members of its executive leadership team have invested $1.5 million personally through the purchase of common stock at a premium of $1.10 per share.

The investment underscores management’s conviction in Callan JMB’s strategic direction, operational progress, and short- and long-term growth opportunities.

“Our leadership team is putting its own capital to work because we believe in the path ahead,” said Wayne Williams, Chief Executive Officer of Callan JMB. “This is a direct expression of our confidence in the Company’s strategy, and our commitment to building value alongside shareholders.”

The investment arrives as Callan JMB has recently completed multiple important initiatives across healthcare preparedness, expanded pharmaceutical supply chain infrastructure, increased advanced manufacturing, and launched strategic partnerships with U.S. government-focused programs, achieving the goal of strengthening domestic healthcare resiliency and critical medical supply chains. Management believes the Company’s rapidly growing pipeline of business opportunities positions it to capitalize on rising demand while executing its plan for growth and operational excellence.

“We believe the strongest signal we can send is to invest our own capital at a price that is at a multiple above the current market, but still at what we perceive to be a discount to the true value of our shares. Investing alongside our shareholders demonstrates our confidence in the company,” said Christopher Shields, Interim Chief Financial Officer. “We remain focused on disciplined execution and creating sustainable value for all stakeholders.”

Proceeds from the investment are expected to support strategic growth initiatives and other corporate objectives that significantly strengthen the Company’s market position.

Shareholder Alignment

By committing personal capital at this level, Callan JMB’s executive leadership is further aligning its interests with those of shareholders. The investment reinforces management’s total confidence in the Company’s strategic initiatives and its commitment to responsible stewardship of shareholder capital.

The shares purchased do not benefit from any registration rights and may only be sold or transferred in accordance with the holding periods and other conditions prescribed by SEC Rule 144.

About Callan JMB Inc.

Callan JMB Inc. (NASDAQ: CJMB) provides logistics, infrastructure, and operational services supporting the healthcare industry, emergency management agencies, government organizations, and other entities responsible for maintaining essential services. The Company’s capabilities include product fulfillment, specialty packaging, warehousing, cold-chain logistics, monitoring, regulatory compliance, emergency preparedness, and response operations. Through continued expansion, Callan JMB is leveraging its expertise in critical infrastructure and supply chain management to address challenges of national importance.

Investor Contact
Valter Pinto
Managing Director
KCSA Strategic Communications
CallanJMB@kcsa.com
(212) 896-1254

Media Contact
Arian Hopkins
ahopkins@callanjmb.com

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of applicable federal securities laws. Such statements include, but are not limited to, statements regarding the Company’s growth strategy, business opportunities, operational expansion, healthcare preparedness initiatives, manufacturing capabilities, supply chain objectives, expected market demand, strategic partnerships, workforce development initiatives, and other statements that are not historical facts. These forward-looking statements are based on current expectations and assumptions and are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Investors are encouraged to review the Company’s filings with the U.S. Securities and Exchange Commission for a discussion of factors that could affect future results. The Company undertakes no obligation to update any forward-looking statements except as required by law.

NEW YORK, Nov. 12, 2026 (GLOBE NEWSWIRE) — Apollo Commercial Real Estate Finance Liquidating Trust, a Maryland statutory trust (the “Liquidating Trust”), announced today that, in accordance with the Plan of Complete Liquidation and Dissolution (the “Plan”) approved by the stockholders of Apollo Commercial Real Estate Finance, Inc. ( “ARI”) on September 29, 2026, ARI transferred its remaining assets and liabilities to the Liquidating Trust effective November 9, 2026 (the “Effective Date”). Following the transfer, ARI distributed units of beneficial interest in the Liquidating Trust (the “Units”) to its stockholders on a one-for-one basis, with each stockholder receiving one Unit for each share of common stock of ARI held immediately prior to the Effective Date. As of the Effective Date, all of ARI’s outstanding shares of common stock were cancelled, and ARI deregistered with the Securities and Exchange Commission (the “SEC”).

The purpose of the Liquidating Trust is to wind up ARI’s affairs and liquidate ARI’s remaining assets, to preserve the value of such assets in connection with their orderly liquidation and, after satisfying or providing for ARI’s remaining liabilities, to distribute such assets or the proceeds thereof to the holders of the Units. The amount and timing of any distributions from the Liquidating Trust will be determined by the board of trustees of the Liquidating Trust (the “Board of Trustees”) in its sole discretion.

Under the Amended and Restated Agreement and Declaration of Trust of the Liquidating Trust (the “Declaration of Trust”), subject to certain limited exceptions, including transfer by will, intestate succession or operation of law, the Units are not transferable, nor do holders of Units have authority or power to sell or in any other manner dispose of their Units. The Units do not trade on the New York Stock Exchange or any other exchange. The rights of holders of Units are not represented by any form of certificate or other instrument.

Under the Declaration of Trust, the Board of Trustees will oversee the business and affairs of the Liquidating Trust. ACREFI Management, LLC has been retained as the manager of the Liquidating Trust to oversee its day-to-day operations under the supervision and control of the Board of Trustees.

The Declaration of Trust provides that the Liquidating Trust will terminate upon the earliest of (a) such time as termination is required by the applicable laws of the State of Maryland, (b) the determination of the Board of Trustees to terminate the Liquidating Trust following the distribution of all of the Liquidating Trust’s assets, or (c) November 9, 2029, subject to certain extensions.

Material U.S. Federal Income Tax Consequences

Information regarding the expected U.S. federal income tax consequences of any additional liquidating distributions, as well as the Plan, is summarized in ARI’s definitive proxy statement, filed with the SEC on August 24, 2026, for ARI’s special meeting of stockholders held on September 29, 2026, which is available free of charge through the website maintained by the SEC at http://www.sec.gov. However, the tax treatment described may vary depending on each stockholder’s particular situation.

About Apollo Commercial Real Estate Finance, Inc. and Apollo Commercial Real Estate Finance Liquidating Trust

On September 29, 2026, ARI’s stockholders approved the complete liquidation and dissolution of ARI in accordance with the Plan. ARI operated as a real estate investment trust that primarily originated, acquired, invested in and managed performing commercial first mortgage loans, subordinate financings and other commercial real estate-related debt investments.

The Liquidating Trust is a Maryland statutory trust established to wind up ARI’s affairs and liquidate its remaining assets for the benefit of holders of the Units. On November 9, 2026, ARI transferred its remaining assets and liabilities to the Liquidating Trust in accordance with the Plan. ACREFI Management, LLC manages the day-to-day operations of the Liquidating Trust under the supervision and control of the Board of Trustees. ACREFI Management, LLC is a Delaware limited liability company and an indirect subsidiary of Apollo Global Management, Inc., a high-growth, global alternative asset manager with approximately $1.07 trillion of assets under management as of September 30, 2026.

Additional information can be found on the Liquidating Trust’s website at www.apollocref.com.

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the control of ARI and the Liquidating Trust. These forward-looking statements include information about possible or assumed future results of the Liquidating Trust’s activities, financial condition, liquidity, plans and objectives, including the liquidation of remaining assets, the amount and timing of any additional liquidating distributions and the duration of the Liquidating Trust. When used in this release, the words believe, expect, anticipate, estimate, plan, continue, intend, should, may or similar expressions are intended to identify forward-looking statements. These statements are subject to certain risks, uncertainties and assumptions, including: risks associated with the actual amount or timing of asset sales and liquidating distributions; unexpected costs or unexpected liabilities that may arise from the transactions contemplated by the Plan; and the ability to realize the results contemplated by the Plan. For a further list and description of such risks and uncertainties, see the reports filed by ARI and the Liquidating Trust with the SEC. The forward-looking statements, and other risks, uncertainties and factors, are based on current beliefs, assumptions and expectations, taking into account all information currently available. Forward-looking statements are not predictions of future events. ARI and the Liquidating Trust disclaim any intention or obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

CONTACT:	Hilary Ginsberg
	Investor Relations
	(212) 822-0767

Microchip-enabled sensing platform aims to combine signal acquisition, mapping and real-time catheter positioning to support future nerve-targeted procedures

THE WOODLANDS, TX, Nov. 12, 2026 (GLOBE NEWSWIRE) — Autonomix Medical, Inc. (NASDAQ: AMIX) (“Autonomix” or the “Company”), a medical device company dedicated to advancing precision nerve-targeted treatments, today highlighted its presentation at the 2026 Transcatheter Cardiovascular Therapeutics (TCT) Annual Scientific Conference and its strategic focus on advancing its proprietary sensing platform for potential applications in renal denervation.

The presentation, titled “Illuminating the Nervous System with Transvascular Precision-Guided Technology,” showcased the Company’s catheter-based, microchip-enabled sensing architecture and early preclinical research evaluating electrical recordings before and after ablation. This work supports Autonomix’s development strategy, which prioritizes a standalone sensing system as the foundation for future mapping, procedural guidance and treatment-assessment capabilities.

Renal denervation and other cardiovascular applications represent the Company’s primary near-term development focus. Autonomix is developing its platform for potential use alongside different ablation technologies, with the goal of providing physicians additional information about electrical activity at treatment sites.

“Our vision is to develop a ‘GPS’ for nerve-targeted procedures, combining sensitive electrical signal acquisition, mapping and real-time catheter positioning within blood vessels,” said Brad Hauser, President and Chief Executive Officer of Autonomix. “Renal denervation presents a compelling opportunity for this approach. Physicians are treating nerves involved in blood pressure regulation, yet they have limited access to direct measurements of neural activity during the procedure. We believe providing that additional information could become an important advancement in how these treatments are planned, delivered and assessed.”

Addressing an Information Gap in Renal Denervation

Renal denervation is a minimally invasive procedure that disrupts nerve signaling around the arteries supplying the kidneys to help lower blood pressure in selected patients with uncontrolled hypertension.

According to Centers for Disease Control (CDC) High Blood Pressure Facts, approximately 119.9 million adults in the US, or 48.1%, have high blood pressure, and that approximately 22.5% of those adults have it under control.

Autonomix sees an opportunity to complement renal denervation therapies with sensing technology designed to acquire electrical signals from within the blood vessels near the nerves being targeted. With further development and validation, the Company believes this information could help physicians identify relevant activity, relate recordings to specific locations and assess changes following treatment.

“Electrical mapping changed how physicians understand and treat abnormal heart rhythms,” Mr. Hauser continued. “We see the potential for sensing and mapping to bring a similar information advantage to renal denervation. By developing a platform that could work alongside different treatment technologies, we believe Autonomix has an opportunity to support innovation across the category and create potential collaborations with multiple therapy developers.”

Proprietary Technology Designed to Preserve Low-Amplitude Signals

Autonomix’s investigational sensing catheter incorporates a custom antenna array and proprietary microchip designed to acquire low-amplitude biological electrical signals from within blood vessels.

The microchip places signal amplification and digitization at or near the point of detection. This architecture is intended to reduce signal degradation and preserve information for processing and analysis, supporting the Company’s goal of acquiring signals that may provide insight into neural activity beyond the vessel wall.

Autonomix is advancing this sensing foundation alongside the mapping, positioning and signal-processing capabilities envisioned for its commercial platform. The Company’s development objective is to incorporate these capabilities into a potential commercial offering by the end of 2028, subject to successful development, validation, sufficient financing and applicable regulatory authorizations.

Early Preclinical Research Presented at TCT

The TCT presentation included studies in healthy swine using Autonomix’s investigational 7 Fr sensing catheter and system. Electrical recordings were obtained around the renal, celiac and common hepatic arteries, including recordings before and after ablation.

The studies evaluated characteristics of the recorded signals, including the distribution of signal power across frequencies of interest. This research is intended to improve understanding of signal acquisition, the conditions affecting recorded activity and the potential to identify treatment-related changes.

The findings in the studies remain preliminary, with physiological changes, catheter position, electrode contact and acquisition conditions influencing recorded activity. The source and clinical significance of the signals require further validation, and a reduction in recorded electrical activity alone does not establish complete or durable denervation.

Building Toward “Sense. Treat. Verify.”

Autonomix’s broader platform vision is organized around a “Sense. Treat. Verify.” approach: acquiring and mapping relevant electrical activity, supporting targeted intervention and assessing changes following treatment.

The Company is prioritizing its standalone sensing system as its initial U.S. regulatory and commercialization opportunity. Establishing that foundation is intended to support subsequent development of more advanced capabilities and clinical applications.

The proposed initial sensing clearance would be limited to the authorized indications for use and would not include renal denervation guidance or treatment-verification claims. Those future applications would require additional supporting evidence and applicable regulatory authorization.

“Our focus is on building the sensing foundation and translating it into useful information for physicians,” Mr. Hauser added. “TCT provided an opportunity to share our early research with the cardiovascular community and discuss the potential role of this technology in the evolving renal denervation field.”

About Autonomix Medical, Inc. 

Autonomix is a medical device company focused on advancing innovative technologies to revolutionize how diseases involving the nervous system are diagnosed and treated. The Company’s first-in-class platform system technology includes a catheter-based microchip sensing array that may have the ability to detect and differentiate neural signals with greater sensitivity than currently available technologies. We believe this will enable, for the first time ever, transvascular diagnosis and treatment of diseases involving the peripheral nervous system virtually anywhere in the body.

Our technology constitutes a platform to address dozens of potential indications, including cardiology, hypertension and chronic pain management, across a wide disease spectrum. Our technology is investigational and has not been cleared or approved for marketing in any jurisdiction.
 
For more information, visit autonomix.com and connect with the Company on X, LinkedIn, Instagram and Facebook.

Forward Looking Statements 

Some of the statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which involve risks and uncertainties. Such statements may be identified by words including “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “expects,” “plans,” “aims” and “targets.” Forward-looking statements in this release include statements regarding the Company’s development priorities and strategy; its vision for a nervous system “GPS”; the potential capabilities, performance and clinical utility of its sensing, mapping, positioning and signal-processing technologies; its “Sense. Treat. Verify.” approach; potential applications in renal denervation and other cardiovascular procedures; the significance of its early preclinical findings; potential use alongside different ablation technologies and opportunities for collaboration; proposed regulatory pathways and limitations of initial regulatory clearance; the scope of addressable patient populations; comparative technology claims; and its objective to incorporate expanded capabilities into a potential commercial offering by the end of 2028.

These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. These include the Company’s ability to establish the source and clinical significance of recorded signals; demonstrate reliable performance and clinical utility; complete technology development, testing and validation; achieve manufacturing readiness; obtain necessary regulatory authorizations; secure sufficient financing; and achieve commercialization within anticipated time frames, if at all.

Additional risks and uncertainties are described under “Risk Factors” and elsewhere in the Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and other filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date of this release. Autonomix undertakes no obligation to update these statements except as required by law.

Investor and Media Contact 

JTC Team, LLC 
Jenene Thomas
908.824.0775
autonomix@jtcir.com

MINNEAPOLIS, Nov. 12, 2026 (GLOBE NEWSWIRE) — Nortech Systems Incorporated (Nasdaq: NSYS) (“Nortech” or the “Company”), a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical imaging, medical device, industrial, and aerospace & defense markets, reported financial results for the third quarter ended September 30, 2026.

2026 Q3 Highlights:

	●	Net sales of $33.0 million in Q3 2026 vs. $30.5 million in Q3 2025
	●	Net income of $637 thousand, or $0.21 per diluted share in Q3 2026 vs. net loss of $(146) thousand, or $(0.05) per diluted share in Q3 2025
	●	Adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”) of $2.0 million in Q3 2026 vs. $1.3 million in Q3 2025
	●	90-day backlog of $31.5 million as of September 30, 2026 vs. $31.3 million as of September 30, 2025
	●	Total backlog of $92.8 million as of September 30, 2026, up 20% from September 30, 2025

Management Commentary

“Our third quarter results reflect continued execution of our business strategy,” said President & CEO, Jay D. Miller. “We are deepening engineering partnerships with our customers, using our manufacturing footprint across the United States, Mexico, and China to serve them from the location that best meets their needs, and strengthening operational discipline across our global operations. These efforts delivered year-over-year revenue growth and improved gross margin, and they are building momentum with our customers.”

“That momentum is reflected in our backlog. Total backlog of $92.8 million is up 20% from a year ago, led by Aerospace & Defense and Industrial markets, and gives us confidence in the direction of the business. Our China operations, where net sales grew more than 56% in the quarter, continue to demonstrate the value of our global footprint. As we close out 2026, we are focused on converting backlog into profitable shipments, strengthening cash generation through disciplined purchasing and inventory management, and advancing our fiber optic technologies to support our customers’ next-generation applications.”

Summary Financial Information

The following table provides summary financial information comparing the third quarter 2026 (“Q3 2026”) financial results to the same quarter in 2025 (“Q3 2025”) as well as the nine-month period ended September 30, 2026 (“YTD 2026”) with the same period in 2025 (“YTD 2025”).

($ in thousands)		Q3 2026				Q3 2025				% Change				YTD 2026				YTD 2025				% Change
Net sales		$	33,047			$	30,482				8.4	%		$	96,903			$	88,052				10.1	%
Gross profit		$	5,872			$	5,025				16.9	%		$	16,277			$	12,940				25.8	%
Operating expenses		$	4,458			$	4,080				9.3	%		$	14,193			$	12,866				10.3	%
Net income (loss)		$	637			$	(146	)			536.3	%		$	919			$	(1,149	)			180.0	%
EBITDA		$	1,719			$	1,253				37.2	%		$	3,007			$	1,060				183.7	%
Adjusted EBITDA		$	1,955			$	1,253				56.0	%		$	3,447			$	1,326				160.0	%

See the reconciliation of GAAP measures to non-GAAP financial measures of EBITDA and Adjusted EBITDA included in this release.

Conference Call

The Company will hold a live conference call and webcast at 3:30 p.m. central time on Thursday, November 12, to discuss the Company’s 2026 third quarter results. The call will be hosted by Jay D. Miller, Chief Executive Officer and President and Andrew D. C. LaFrence, Chief Financial Officer and Senior Vice President of Finance. To access the live audio conference call, US participants may call 888-506-0062 and international participants may call 973-528-0011. Participant Access Code: 124682. Participants may also access the call via webcast at: https://www.webcaster5.com/Webcast/Page/2814/54544.

###

About Nortech Systems Incorporated

Nortech Systems is a leading provider of design and manufacturing solutions for complex electromedical devices, electromechanical systems, assemblies, and components. Nortech primarily serves the medical imaging, medical device, aerospace & defense, and industrial markets. Its design services span concept development to commercial design, and include medical device, software, electrical, mechanical, and biomedical engineering. Its manufacturing and supply chain capabilities are vertically integrated around wire, cable, and interconnect assemblies, printed circuit board assemblies, as well as system-level assembly, integration, and final test. Headquartered in Maple Grove, Minn., Nortech currently has six manufacturing locations and design centers across the U.S., Latin America, and Asia. Nortech Systems is traded on the NASDAQ Stock Market under the symbol NSYS. Nortech’s website is www.nortechsys.com.

Forward-Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 including without limitation statements regarding strength and growth of bookings and backlog, future business prospects, opportunities in aerospace and defense and medical markets, converting strong customer engagement into sustainable growth and long-term value, future financial results including increased gross margin, our ability to generate positive EBITDA, nearshoring as a strategic advantage, successful execution of our long-term strategy, our enhanced competitiveness in aerospace, defense, and other high-reliability markets, and effects of restructuring and consolidating manufacturing facilities. While this release is based on management’s best judgment and current expectations, actual results may differ materially from those expressed or implied and involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from the forward-looking statements include, without limitation: (1) commodity cost increases coupled with challenges in raising prices and/or customer pressure to reduce prices; (2) supply chain disruptions leading to shortages of critical components; (3) volatility in market conditions which may affect demand for the Company’s products; (4) increased competition and/or reduced demand; (5) changes in the reliability and efficiency of operating facilities or those of third parties; (6) risks related to the availability of labor; (7) the unanticipated loss of any key member of senior management; (8) geopolitical, economic, financial and business conditions including changing tariff environment; (9) the Company’s ability to steadily improve manufacturing output and product quality; (10) the impact of global health epidemics on our customers, employees, manufacturing facilities, suppliers, the capital markets and our financial condition; (11) challenges with customers with respect to moving production from one facility to another Company owned facility or (12) financing cost increases and continued availability. Some of the above-mentioned factors are described in further detail in the section entitled “Risk Factors” in our annual and quarterly reports, as applicable. You should assume the information appearing in this document is accurate only as of the date hereof, or as otherwise specified, as our business, financial condition, results of operations and prospects may have changed since such date. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the United States Securities and Exchange Commission, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.

Reconciliation of Generally Accepted Accounting Principles (“GAAP”) Measures to Non-GAAP Financial Measure

EBITDA is a non-GAAP financial measure used by management that we believe provides useful information to investors because it reflects ongoing performance excluding certain non-recurring items during comparable periods and facilitates comparisons between peer companies since interest, taxes, depreciation, and amortization can differ greatly between different organizations as a result of differing capital structures and tax strategies. EBITDA is defined as net income (loss) plus interest expense, plus income tax expense plus depreciation expense and amortization expense. EBITDA should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Adjusted EBITDA reflects the impact of restructuring, of costs to review long-term strategy to evaluate opportunities to enhance shareholder value, and other non-recurring items. These strategy costs totaled $236 thousand in the third quarter of 2026 and $440 thousand for the nine months ended September 30, 2026. EBITDA and Adjusted EBITDA are not a measurement of our financial performance under GAAP and should not be considered an alternative to net sales or net income (loss), as applicable, or any other performance measures derived in accordance with GAAP and may not be comparable to other similarly titled measures of other businesses. EBITDA and Adjusted EBITDA have limitations as an analytical metric, and you should not consider it in isolation or as a substitute for analysis of our operating results as reported under GAAP.

NORTECH SYSTEMS INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME (LOSS)
(UNAUDITED)
(IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA)

		THREE MONTHS ENDED								NINE MONTHS ENDED
		SEPTEMBER 30,								SEPTEMBER 30,
		2026				2025				2026				2025
Net sales		$	33,047			$	30,482			$	96,903			$	88,052
Cost of goods sold			27,175				25,457				80,626				75,112
Gross profit			5,872				5,025				16,277				12,940
Operating expenses:
Selling			1,187				1,221				4,002				3,609
General and administrative			3,004				2,593				9,268				8,097
Research and development			267				266				923				894
Restructuring charges			–				–				–				266
Total operating expenses			4,458				4,080				14,193				12,866
Income from operations			1,414				945				2,084				74
Other expense:
Interest expense, net			(223	)			(273	)			(676	)			(744	)
Income (loss) before income taxes			1,191				672				1,408				(670	)
Income tax expense			554				818				489				479
Net income (loss)		$	637			$	(146	)		$	919			$	(1,149	)
Net income (loss) per common share:
Basic (in dollars per share)		$	0.23			$	(0.05	)		$	0.33			$	(0.41	)
Weighted average number of common shares outstanding – basic (in shares)			2,859,420				2,785,541				2,817,225				2,773,401
Diluted (in dollars per share)		$	0.21			$	(0.05	)		$	0.30			$	(0.41	)
Weighted average number of common shares outstanding – diluted (in shares)			3,036,090				2,785,541				3,017,302				2,773,401
Other comprehensive income (loss)
Foreign currency translation		$	142			$	(21	)		$	232			$	109
Comprehensive income (loss), net of tax		$	779			$	(167	)		$	1,151			$	(1,040	)

NORTECH SYSTEMS INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF SEPTEMBER 30, 2026 AND DECEMBER 31, 2025
(UNAUDITED)
(IN THOUSANDS, EXCEPT SHARE DATA)

		SEPTEMBER 30, 2026				DECEMBER 31, 2025
ASSETS
Current assets:
Cash		$	3,023			$	1,655
Restricted cash			1,099				–
Accounts receivable, less allowance for credit losses of $180 and $161, respectively			20,948				16,998
Inventories, net			25,648				20,695
Contract assets			17,155				15,184
Prepaid assets and other assets			1,289				1,618
Total current assets			69,162				56,150
Property and equipment, net			5,009				5,203
Operating lease assets, net			6,113				7,016
Deferred tax assets			3,853				3,394
Other intangible assets, net			136				156
Deferred line of credit issuance costs, net			222				–
Total assets		$	84,495			$	71,919
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Lines of credit		$	8,310			$	7,000
Current portion of term loan			440				–
Accounts payable			15,523				12,809
Accrued payroll and commissions			2,932				1,822
Customer deposits			9,320				5,386
Current portion of operating lease obligations			1,177				1,332
Current portion of finance lease obligations			216				274
Other accrued liabilities			1,823				1,221
Total current liabilities			39,741				29,844
Long-term liabilities:
Term loan, net of debt issuance costs			1,502				–
Long-term operating lease obligations			5,666				6,476
Long-term finance lease obligations			612				626
Other long-term liabilities			441				426
Total long-term liabilities			8,221				7,528
Total liabilities			47,962				37,372
Shareholders’ equity:
Preferred stock, $1 par value; 1,000,000 shares authorized; 250,000 shares issued and outstanding			250				250
Common stock – $0.01 par value; 9,000,000 shares authorized; 2,865,782 and 2,786,134 shares issued and outstanding, respectively			29				28
Additional paid-in capital			18,689				17,855
Accumulated other comprehensive loss			(477	)			(709	)
Retained earnings			18,042				17,123
Total shareholders’ equity			36,533				34,547
Total liabilities and shareholders’ equity		$	84,495			$	71,919

NORTECH SYSTEMS INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(IN THOUSANDS)

		NINE MONTHS ENDED SEPTEMBER 30,
		2026				2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)		$	919			$	(1,149	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization			923				986
Compensation on stock-based awards			515				369
Change in allowance for credit losses			19				(10	)
Change in inventory reserves			(346	)			346
Deferred taxes			(459	)			(189	)
Changes in current operating items:
Accounts receivable			(3,725	)			(3,875	)
Inventories			(4,607	)			2,823
Contract assets			(1,970	)			(1,536	)
Prepaid expenses and other assets			329				(1,244	)
Accounts payable			2,446				165
Accrued payroll and commissions			1,093				555
Customer deposits			3,935				(424	)
Other accrued liabilities			653				318
Net cash used in operating activities			(275	)			(2,865	)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of property and equipment			–				504
Purchases of property and equipment			(424	)			(517	)
Net cash used in investing activities			(424	)			(13	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from lines of credit			62,561				76,215
Payments to line of credit			(61,260	)			(72,880	)
Proceeds from term loan			2,200				–
Payments of debt issuance costs			(290	)			–
Principal payments on term loan			(220	)			–
Principal payments on financing leases			(182	)			(140	)
Stock award exercises			320				23
Net cash provided by financing activities			3,129				3,218
Effect of exchange rate changes on cash and restricted cash			37				15
Net change in cash and restricted cash			2,467				355
Cash and restricted cash – beginning of period			1,655				916
Cash and restricted cash – end of period		$	4,122			$	1,271

RECONCILIATION OF NET INCOME (LOSS) TO EBITDA AND ADJUSTED EBITDA

		THREE MONTHS ENDED SEPTEMBER 30,								NINE MONTHS ENDED SEPTEMBER 30,
		2026				2025				2026				2025
($ in thousands)
Net income (loss)		$	637			$	(146	)		$	919			$	(1,149	)
Interest			223				273				676				744
Taxes			554				818				489				479
Depreciation			294				303				903				972
Amortization			11				5				20				14
EBITDA			1,719				1,253				3,007				1,060
Restructuring charges			–				–				–				266
Strategy review expenses			236				–				440				–
ADJUSTED EBITDA		$	1,955			$	1,253			$	3,447			$	1,326

There were no material adjustments to EBITDA in the three months ended September 30, 2025. Adjustment to EBITDA for the three and nine months ended September 30, 2026 and the nine months ended September 30, 2025 include ($ in thousands):

	●	During the third quarter and first nine months of 2026 we incurred $236 and $440 of third-party consulting, legal and other incremental costs associated with the Company’s 2026 review of long-term strategy to evaluate opportunities to enhance shareholder value following realized improvements in the Company’s backlog, financial performance and bank financing. These costs are included in general and administrative expenses in the condensed consolidated statement of operations, which expense amount is not included in Adjusted EBITDA.
	●	During the first quarter of 2025, we incurred $235 of severance charges for a February 2025 reduction in force to align staffing to our forecasted net sales and $31 of expenses related to our closed Blue Earth facility, which expense amount is not included in Adjusted EBITDA.

($ in millions)		Last Twelve Months (“LTM”) Ended in Quarter
		Q3 2023				Q4 2023				Q1 2024				Q2 2024				Q3 2024				Q4 2024				Q1 2025				Q2 2025				Q3 2025				Q4 2025				Q1 2026				Q2 2026				Q3 2026
Net Sales		$	138.9			$	139.3			$	138.7			$	137.5			$	135.6			$	128.1			$	120.8			$	117.6			$	116.7			$	118.4			$	121.8			$	124.7			$	127.2
Gross Profit $ – Adjusted			21.4				23.1				23.1				22.2				20.7				16.7				14.4				14.6				15.8				18.0				19.6				20.5				21.3
Gross Margin % – Adjusted			15.4	%			16.6	%			16.6	%			16.1	%			15.3	%			13.1	%			11.9	%			12.4	%			13.5	%			15.2	%			16.1	%			16.4	%			16.8	%
Adjusted EBITDA		$	6.0			$	8.0			$	8.1			$	7.3			$	5.9			$	2.1			$	(0.5	)		$	(0.4	)		$	0.7			$	2.5			$	3.9			$	3.7			$	4.7

Contact

Andrew D. C. LaFrence
Chief Financial Officer and Senior Vice President of Finance
alafrence@nortechsys.com
952-345-2243 

October revenue represents approximately 48% of the prior nine months combined; MAX 4 development progresses as Florida announces intent to award State Term Contract

BRADENTON, Fla., Nov. 12, 2026 (GLOBE NEWSWIRE) — Recreatives Industries, Inc. (OTC: RECX) (“Recreatives” or the “Company”), manufacturer of MAX six-wheel-drive amphibious all-terrain vehicles, today announced significant progress toward the return of its four-passenger MAX 4, with initial production components received and more than 380 prospective customers on the combined MAX 4 and Buffalo Truck waitlists.

The announcement follows a strong October for Recreatives, with preliminary, unaudited revenue of approximately $230,000, compared to approximately $477,000 in total revenue for the nine months ended September 30, 2026. October revenue alone represented approximately 48% of the Company’s revenue generated during the preceding nine months, bringing preliminary year-to-date revenue through October to approximately $707,000.

MAX 4 Development and Production Progress

The MAX 4 has been one of the most requested vehicles since Recreatives acquired the MAX brand and manufacturing assets in late 2021. Originally developed as a four-passenger alternative to the MAX 2, the MAX 4 grew in popularity over the years, with sales beginning to match and exceed those of the MAX 2 in the early 2000s. Recreatives believes the MAX 4 is particularly well suited to today’s powersports market, where customers increasingly value passenger capacity, cargo versatility and the ability to enjoy outdoor activities with family and friends.

More than 380 prospective customers have joined the Company’s combined MAX 4 and Buffalo Truck waitlists. These registrations reflect customer interest ahead of the vehicles becoming available for purchase and are non-binding, with no deposits required.

The new MAX 4 builds on its proven original design while incorporating manufacturing and engineering improvements developed by Recreatives. The Company has received its initial shipment of thermoformed HDPE vehicle bodies, along with seats and specialized drivetrain components. Previously announced production orders cover approximately 50 MAX 4 vehicles.

The updated chassis incorporates drivetrain components shared with the MAX 2, increasing parts commonality and simplifying inventory management and service. Recreatives is currently completing chassis development and anticipates beginning testing of its first MAX 4 chassis before Thanksgiving. The Company is targeting an expected starting MSRP of $17,979.

The Company’s 25-inch TerraTread tire, introduced earlier this year, was developed with the MAX 4, Buffalo Truck and a potential future MAX 8×8 vehicle in mind.

The Company expects to announce MAX 4 pre-order terms, including deposit requirements and anticipated delivery details, in the coming weeks, with existing waitlist customers receiving priority notification.

October Sales Momentum

Following slower sales activity in July and August, Recreatives experienced improved sales in September, followed by a significant increase in October. October 2026 represented the Company’s strongest monthly sales performance since the MAX brand was relaunched in late 2021.

“Customers have been asking us to bring back the MAX 4 for years, and hundreds have already joined our waitlists for the MAX 4 and Buffalo Truck,” said Andrew Lapp, Chief Executive Officer of Recreatives Industries. “The MAX 4 gives customers the additional passenger capacity and versatility they’re looking for, while retaining the amphibious capability that has defined MAX for decades. We’ve received our initial production bodies and key components, and we’re working toward testing our first chassis before Thanksgiving.”

“October was our strongest sales month since we relaunched MAX in late 2021. We’ve invested heavily in manufacturing capabilities, product development and rebuilding the MAX lineup, and we’re beginning to see those efforts translate into stronger sales. The MAX 4 is an important part of where we’re taking this company.”

Florida State Term Contract

On November 9, 2026, the Florida Department of Management Services posted a notice of intent to award Recreatives Industries a State Term Contract under its Agriculture and Lawn Equipment solicitation (No. 26-25101900-ITB-V2).

The proposed contract would make the MAX 4 and Buffalo Truck available for purchase by eligible Florida public agencies, providing Recreatives with an opportunity to expand its presence in government and public-sector markets. The proposed award remains subject to the applicable protest period and execution of the final contract.

The Buffalo Truck, a MAX utility vehicle featuring a hydraulically tilting cargo bed, is also being prepared for its return to market, with additional product and availability announcements expected.

About Recreatives Industries, Inc.

Recreatives Industries, Inc. (OTC: RECX) is an American powersports manufacturer and the manufacturer of MAX amphibious all-terrain vehicles, an iconic line of six-wheel-drive vehicles made in the USA since 1969. For more than five decades, MAX vehicles have combined true all-terrain mobility with amphibious capability in a compact, highly maneuverable platform designed for recreational, hunting, commercial and utility applications.

Today, Recreatives Industries manufactures MAX vehicles at its facility in Bradenton, Florida, where the Company is expanding production, developing the next generation of MAX vehicles and growing its dealer network. Building on more than 50 years of proven MAX engineering and brand heritage, the Company is broadening the MAX product portfolio with new vehicle configurations and platforms designed to address a wider range of recreational and professional applications.

For more information, visit www.recreatives.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements about MAX 4 production and delivery timing, pre-order terms, the release of the Buffalo Truck, the Florida State Term Contract and future sales. Forward-looking statements are based on current expectations and involve risks and uncertainties, including parts and materials supply, production capacity, engine availability, the outcome of the State’s protest period and contract execution, customer demand, the conversion of waitlist interest into orders, financing and general economic conditions. Actual results may differ materially. Preliminary October revenue is unaudited and subject to change. The Company undertakes no obligation to update these statements except as required by law.

Investor Relations Contact

Recreatives Industries, Inc.
ir@recreatives.com
+1 800 255 2511