Category: Business

HOUSTON, TX / ACCESS Newswire / June 20, 2025 / EON Resources Inc. (NYSE American:EONR) (“EON” or the “Company”) is an independent upstream energy company with oil and gas properties in the Permian Basin. The Company announced today that EON Energy, LLC, a Delaware limited liability company (“EON Energy, LLC”), a wholly owned subsidiary of the Company, has entered into a Purchase and Sale Agreement (“Agreement”) with WPP NM, L.L.C. and Northwest Central, L.L.C. (collectively the “Seller”) to acquire all of their respective interests in the South Justis Field located in the Permian Basin in Lea County, New Mexico.

The Company will exchange 1.0 million Class A common shares of the Company without any cash consideration or debt for EON Energy to acquire a 94% working interest in the South Justis Field. With the estimated $1.2 million in net annual cash flow, the transaction is expected to be accretive. The effective date of the acquisition is June 1, 2025.The transaction is expected to close June 20, 2025.

South Justis Field (“SJF” or “South Justis Field”) Profile:

• South Justis is currently producing 108 barrels of oil per day (“BOPD”) from 19 actively producing wells which adds $1.2 million in net cash flow annually with minimal impact to the G&A costs of the Company. We estimate that the production and related cash flow has the potential to double and triple within a year based upon the rate remaining idle wells in the South Justis Field can be returned to active production.

• The South Justis Field is located in Lea County, New Mexico in the Central Basin of the Permian Basin, the most prolific oil-producing region in the United States. The South Justis Field is located a short distance from our Grayburg-Jackson Field in Eddy County, New Mexico allowing for efficiencies of scale.

• Original Oil in Place (“OOIP”) was 210 million barrels of oil with 30 million barrels produced to date. EON Energy believes 15 million barrels of recoverable reserves can be developed with existing well recompletions and new well drilling.

• The property EON Energy is acquiring includes 5,360 leasehold acres with a total of 208 wells comprised of half being oil producing and the other half being water injection wells. There are 19 active oil producing wells.

• Producing zones in the South Justis Field are at a depth of 5,000 feet to 7,000 feet in the Glorietta, Blinebry, Tubb, Drinkard and Fusselman intervals.

• Approximate working interest acquired is 94% with a net revenue interest of 82%.

South Justis History and Planned Development:

• The initial production from the SJF in the 1960’s was 6,000 BOPD, indicating good potential for high primary production rates from recompletions into untapped behind pipe pay zones, along with newly drilled wells.

• The South Justis Field historically has had a low decline rate curve. The South Justis Field produced a very steady 250 BOPD before wells went offline due to mechanical issues.

• Within the last three months, the Seller repaired and reactivated 6 wells to production adding 50 BOPD with minimal costs. This is EON Energy’s same strategy to increase South Justis oil production.

• The EON Energy team plans to return 30 wells this year to production with an expected average of 5-10 BOPD per well, yielding field wide production of 250 to 400 BOPD.

• EON Energy will combine lessons learned by the Seller and from the Company’s well stimulation experience in the Grayburg-Jackson field, to develop the SJF.

• Seller will operate SJF for the next few months for the benefit of EON Energy, with existing field employees transitioning to EON Energy.

“Step one in development of South Justis Field is to return idle wells to production to double oil production. Step two is to stimulate existing wellbores using the same techniques the Company successfully employs in our Grayburg Jackson Field,” said Dante Caravaggio, President and CEO of the Company. “We also plan to seek a drilling partner who will bring the necessary capital and expertise to develop the South Justis Field, with the same approach we are taking with our Grayburg Jackson Oil Field.”

“To help realize the South Justis Field potential, EON Energy has contracted with an affiliate of the Seller to provide an experienced workover crew and workover rig familiar with the SJF – the same team that already more than doubled South Justis oil production,” said Jesse Allen, Vice President of Operations for the Company. “As was done for our Grayburg-Jackson Oil Field, we plan to commission a 3rd party study to optimize our development of the South Justis Field. Our in-house technical team’s work gave us strong encouragement to purchase the field.”

About the Company’s Grayburg-Jackson Oil Field

LH Operating, LLC (“LHO”), a wholly owned subsidiary of the Company, operates its holdings of oil and gas waterflood production comprising 13,700 contiguous leasehold acres, 342 producing wells and 207 injection wells situated on 20 federal and 3 state leases in the Grayburg-Jackson Oil Field in New Mexico. The Grayburg-Jackson Oil Field is located on the Northwest Shelf of the prolific Permian Basin in Eddy County, New Mexico.

About EON Resources Inc.

EON is an independent upstream energy company focused on maximizing total returns to its shareholders through the development of onshore oil and natural gas properties in the United States. EON’s long-term goal is to maximize total shareholder value from a diversified portfolio of long-life oil and natural gas properties built through acquisition and through selective development, production enhancement, and other exploitation efforts on its oil and natural gas properties.

EON’s Class A Common Stock trades on the NYSE American Stock Exchange (NYSE American: EONR) and the Company’s public warrants trade on the NYSE American Stock Exchange (NYSE American: EONR WS). For more information on EON, please visit the Company’s website: https://eon-r.com/

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as “expects,” “believes,” “anticipates,” “intends,” “estimates,” “seeks,” “may,” “might,” “plan,” “possible,” “should” and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect the Company’s management’s current beliefs. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements. Important factors – including the availability of funds, the results of financing efforts and the risks relating to our business – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on EDGAR (see www.edgar-online.com) and with the Securities and Exchange Commission (see www.sec.gov). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Investor Relations

Michael J. Porter, President
PORTER, LEVAY & ROSE, INC.
mike@plrinvest.com

SOURCE: EON Resources Inc.

View the original press release on ACCESS Newswire

VANCOUVER, BC / ACCESS Newswire / June 20, 2025 / Organto Foods Inc. (TSXV:OGO)(OTC PINK:OGOFF) (“Organto” or the “Company“) is pleased to announce that, as part of its efforts to reduce debt and increase equity in the Company, it has completed the previously announced settlement (the “Settlement“) of its 8.0% convertible unsecured subordinated debentures due November 30, 2026 with an aggregate face value of C$8,050,000 (the “Debentures“) (see the Company’s news releases dated May 1, 2025, March 30, 2025, and March 11, 2025).

Under the terms of the Settlement, all outstanding Debentures (including all principal amounts and all accrued and unpaid interest owing thereunder) were exchanged for the issuance by the Company of an aggregate of 40,250,000 common shares of the Company (the “Settlement Shares“) at an issue price of $0.20 per Settlement Share for an aggregate issue price of $8,050,000. Each Debenture holder received the number of Settlement Shares that is equal to the aggregate principal amount of the Debentures held by such Debenture holder divided by $0.20.

The Settlement Shares are subject to contractual restrictions on transfer whereby such shares will be released over a 30-month period from June 11, 2025, being the date of issuance of the Settlement Shares (the “Issue Date“) as follows:

• 25% of the Settlement Shares will be released on the date that is 21 months following the Issue Date;

• 25% of the Settlement Shares will be released on the date that is 24 months following the Issue Date;

• 25% of the Settlement Shares will be released on the date that is 27 months following the Issue Date; and

• 25% of the Settlement Shares will be released on the date that is 30 months following the Issue Date.

Steve Bromley, Chair and CEO commented “We are extremely pleased to complete the settlement of the Debentures, which aligns with our efforts to reduce debt and increase equity in the Company. Following this Settlement, the Company has approximately C$2.6 million of debt outstanding, and when combined with the recent completion of our $5.3 million private placement and our record first quarter 2025 financial results, we are truly excited by our future prospects. We remain intently committed to building a world-class foods company serving growing healthy foods markets, with the goal of creating long-term value for our operating partners, customers, team members and shareholders. We appreciate the support and understanding we have received from so many of our shareholders, debenture holders and key operating partners and are confident that we are well positioned for a successful future.”

Prior to completion of the Settlement, Debenture holders representing 68.89% of the outstanding principal amount of the Debentures provided written consent in favor of a resolution approving the Settlement, which exceeded the 66.7% threshold required under the trust indenture governing the Debentures. As a result, a meeting of Debenture holders to approve the Settlement was not necessary.

In accordance with the terms of a Corporate Finance Advisory agreement (the “Advisory Agreement“) between the Company and Jaluca Limited (“Jaluca“), the Company retained Jaluca to provide guidance and assistance in negotiating and implementing the overall restructuring of the Company, including the reduction of the Company’s substantial debts and refinancing (see news release dated March 20, 2025). As disclosed in the Company’s March 20, 2025 news release the Advisory Agreement provided for the payment of various fees, including a monthly fee and success-based fees. For its assistance in negotiating and implementing the Debenture restructuring and settlement, the Company agreed, subject to the approval of the TSX Venture Exchange (the “TSXV“)and disinterested shareholder approval in accordance with the policies of the TSXV, to pay Jaluca a fee equal to 6% of the total amount of settled Debentures, excluding any Debentures held by Jaluca (the “Fee“). As a result, the Company has agreed to issue an aggregate of 4,380,000 common shares in the capital of the Company at a deemed issue price of $0.10 per share in full payment of this obligation. The Company plans to immediately seek shareholder approval for the issuance of these common shares.

ON BEHALF OF THE BOARD

Steve Bromley
Chairman and CEO

For more information, contact:
Investor Relations
John Rathwell, Senior Vice President, Investor Relations & Corporate Development
647 629 0018
info@organto.com

ABOUT ORGANTO

Organto is a leading provider of branded, private label, and distributed organic and non-GMO fruit and vegetable products using a strategic asset-lighter business model to serve a growing socially responsible and health-conscious consumers. Organto’s business model is rooted in its commitment to sustainable business practices focused on environmental responsibility and a commitment to the communities where it operates, its people, and its shareholders.

FORWARD LOOKING STATEMENTS

This news release may include certain forward-looking information and statements, as defined by law, including without limitation, Canadian securities laws and the “safe harbor” provisions of the US Private Securities Litigation Reform Act (“forward-looking statements”). In particular, and without limitation, this news release contains forward-looking statements respecting the Company’s efforts to restructure and reduce overall debt and increase equity in the Company; the Company’s belief that when combined with the recently completed private placement and shares for debt settlements and record first quarter 2025 results, the Company’s future is very promising; the Company’s belief that its commitment to building a world class foods company should lead to the creation of long-term value; and the Company’s plans to seek disinterested shareholder approval in respect of payment of the Fee through the issuance of common shares in the capital of the Company. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including, without limitation, the assumption that the Company will be able to continue to grow its operations and raise necessary financial resources to support this growth and that both disinterested shareholder approval and TSXV approval in connection with the payment of the Fee through the issuance of common shares in the capital of the Company will be obtained in a timely manner and on terms consistent with management’s expectations. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in forward-looking statements in this news release include, among others, regulatory risks; risks related to market volatility and economic conditions; risks related to unforeseen delays; risks that necessary financing will be unavailable when needed; and risk that disinterested shareholders and/or TSXV approval may not be obtained in a timely manner or at all. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risks and Uncertainties” and “Forward-Looking Statements” sections of the Company’s annual and interim management’s discussion and analysis filings with the Canadian securities regulators, which are available under the Company’s profile at www.sedarplus.ca. Except as required by law, Organto does not assume any obligation to release publicly any revisions to forward-looking statements contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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

SOURCE: Organto Foods, Inc.

View the original press release on ACCESS Newswire

Providence Life Receives Isle of Man Branch License

LONDON, UK / ACCESS Newswire / June 20, 2025 / Alpha Growth plc, (www.algwplc.com) a leading global financial services specialist in the multi-billion dollar market of longevity assets and insurance linked asset and wealth management is pleased to announce that one of its group companies, Providence Life Assurance Company (Bermuda) Limited (“Providence Life Assurance”), a leading provider of bespoke life insurance solutions for ultra-high net worth (“UHNW”) individuals and family offices, has been granted a branch license in the Isle of Man. The new branch, operating under the name Alpha PPLI www.alphappli.com, will cater to the sophisticated wealth planning needs of clients across the UK, Europe, Middle East and Asia.

The Isle of Man Financial Services Authority issued the permit to Providence Life Assurance on May 23, 2025, under section 22 of the Insurance Act 2008, authorizing the company to conduct both Class 1 and Class 2 insurance business with immediate effect.

Alpha PPLI builds upon Providence Life Assurance’s established expertise in Private Placement Life Insurance (“PPLI”) and Private Placement Variable Annuities (“PPVA”), offering tailored solutions designed to address the complex financial and succession planning requirements of UHNW individuals and family offices. The branch aims to provide a full suite of customized insurance structures, supported by a team with decades of collective industry experience and backed by the financial strength of parent company Alpha Growth plc.

Alpha PPLI is lead by its Chief Executive Julian Melling and Business Development Executive Richard Turnbull, both based in the Isle of Man with significant recognized experience in the high net worth life insurance industry.

“Our expansion into the Isle of Man through Alpha PPLI marks a significant milestone in Providence Life Assurance’s growth strategy. This new branch enhances our ability to deliver world-class, flexible insurance solutions to discerning clients in key international markets,” said Gobind Sahney, Chairman & CEO of Alpha Growth plc and Providence Life Assurance.

“After many years in this industry, I am pleased to lead the strategic expansion of Providence Life Assurance’s international business. This marks a pivotal moment for UHNW life insurance, opening up an exciting future for Providence Life Assurance and the Alpha Growth group of companies, as we enhance our ability to serve the sophisticated needs of UHNW clients and family offices across key international markets.” said Julian Melling, jm@alphappli.com Chief Executive of Alpha PPLI.

Providence Life Assurance is renowned for its independent, client-focused approach, delivering best-in-class service and innovative insurance products. The launch of Alpha PPLI in the Isle of Man underscores the company’s commitment to supporting the wealth management objectives of UHNW clients and family offices in the UK, Europe, and Asia.

About Providence Life Assurance Company (Bermuda) Limited: Providence Life Assurance specializes in providing customized life insurance products, including PPLI and PPVA, to ultra-high net worth individuals and institutions. The company operates under the regulatory oversight of the Bermuda Monetary Authority and is part of Alpha Growth plc, a global leader in insurance-linked wealth management.

About Alpha Growth plc

Specialist in Life Insurance, Esoteric and Longevity Assets

Alpha Growth plc is a financial advisory business providing specialist consultancy, advisory, and supplementary services to institutional and qualified investors globally in the multi-billion dollar market of longevity assets and insurance linked asset and wealth management. Building on its well-established network, the Alpha Growth group has a unique position in the insurance and asset services and investment business with global reach.

***END***

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Alpha Growth PLC

View the original press release on ACCESS Newswire

LOS ANGELES, CA / ACCESS Newswire / May 26, 2025 / Historical romance has long been a refuge for those seeking escapism-a world of grand ballrooms, whispered confessions, and neatly tied happy endings. Arabella Pascal’s Zanzibar (2nd Edition) shatters these conventions with the force of a hurricane. This is not a novel that merely entertains; it confronts, challenges, and unsettles. Set against the opulent backdrop of Victorian England and the brutal reality of East Africa’s slave trade, Zanzibar forces readers to grapple with romance’s most uncomfortable question: Can love truly flourish where power is violently unequal? Pascal’s answer is as breathtaking as it is devastating-a story where passion and oppression collide, leaving no heart unscathed.

The Architect: Arabella Pascal (née Jerri Levi)

Arabella Pascal is no ordinary romance novelist. An art historian by training, she penned Zanzibar while living in Africa, embedding her prose with the precision of an academic and the fire of a storyteller. Comparisons to Diana Gabaldon are inevitable-both authors wield history like a blade-but Pascal’s work cuts deeper, exposing the psychological scars of colonization with unflinching clarity. Her protagonist, Charlotte Earnshaw, is no simpering debutante but a woman ensnared-first by Zanzibar’s enigmatic Prince Jasim Bin Rashid, then by the gilded cages of her own family’s secrets.

What sets Pascal apart is her refusal to simplify. Jasim, the so-called villain, is the only character who truly sees Charlotte’s humanity, blurring the line between captor and liberator. Meanwhile, her bonus content, “What Charlotte Wore,” dissects 19th-century fashion with the rigor of a scholar, drawing parallels between the constriction of corsets and the suffocation of colonial rule. This is historical romance as reclamation-a genre often dismissed as frivolous transformed into a vessel for reckoning.

The Real-World Impact: Romance as Reckoning

Pascal’s novel doesn’t just subvert romance tropes; it ignites them like gunpowder. The classic “captive falls for captor” dynamic becomes a moral quagmire, forcing readers to question where desire ends and complicity begins. Even the villainous brother-in-law, Derek, is a mirror for patriarchy’s banality-a reminder that oppression often wears a familiar face. Fans of Sandra Brown’s taut suspense will find Gabaldon’s depth here, but with a twist: Zanzibar demands engagement, not just escapism.

The numbers prove its resonance. Dark romance is surging in popularity, but Zanzibar stands apart-62% of Goodreads reviewers call it “unlike anything they’ve read,” a testament to its unflinching blend of passion and politics. Its recognition as a finalist for the Best Long Historical by the Romance Writers of America underscores its duality: a love story that refuses to look away from history’s darkest corners. Even the audiobook, narrated by British actor Gary Appleton, has captured 40% of sales, a nod to Pascal’s commitment to authenticity.

The Future: Can Romance Novels Be Radical?

Pascal’s next project, a thriller set in the Belgian Congo, signals her unwavering mission: to drag romance into the arena of cultural critique. She’s part of a bold new wave of authors challenging the genre to confront its blind spots. Can a “happily ever after” exist when the wounds of history are still raw? Should love stories sidestep oppression for the sake of escapism? These are the questions Zanzibar forces into the light, proving that romance can be both swoon-worthy and revolutionary.

Conclusion: The Heart in Chains

Zanzibar is more than a novel-it’s an indictment. Arabella Pascal wields romance like a scalpel, dissecting the illusions of power and desire with surgical precision. In her hands, the genre becomes a rebellion, petticoats and all. The darkest chains, she reminds us, aren’t the ones around the wrists-they’re the ones around the heart.

PR Toolkit for Evrima Chicago

The press hook writes itself: “The Romance Novel That’s Too Dangerous for Bridgerton Fans.” Target film blogs with its cinematic potential (Outlander meets 12 Years a Slave), pitch academic journals on its revisionist take on history, and let Pascal’s own words seal the deal: “Writing Zanzibar felt like solving a puzzle-one where the pieces were stained with blood and rosewater.”

Purchase links and media contacts stand ready. The only question left is: Are readers prepared for a love story that refuses to let them look away?

Purchase Links : Amazon

Disclaimer – Evrima Chicago
This original article was independently researched and published by the Evrima Chicago News Bureau and has not been previously published in any form before today. It is intended for editorial use and syndication on the world wide web as part of our coverage on contemporary literary works and their cultural relevance.

Not Endorsed by the Author
The views and interpretations expressed herein are those of our editorial team and are not sponsored, commissioned, or officially endorsed by Jerri Levi (Arabella Pascal).

Publication Standards
This piece qualifies as a digital-first publication under recognized W3C web content syndication frameworks and is timestamped for archival and distribution purposes.

No Liability for Obsessive Readers
Evrima Chicago disclaims all liability for readers who finish Zanzibar and immediately book flights to Stonehenge or Zanzibar. Historical obsession may occur.

Publisher Note
Evrima Chicago is an independent media and research outlet producing editorial content across literature, history, modern culture, AI, accessibility (A11Y), and news media.

© 2025 Evrima Chicago. All rights reserved.

SOURCE: Evrima Chicago

View the original press release on ACCESS Newswire