Paragon Advanced Labs Completes Debt Settlement

(TSXV:PALS) Paragon Advanced Labs Inc. has completed a debt settlement transaction to settle indebtedness owing to consultants of the Company. The Company settled an aggregate of $794,201.40 in outstanding indebtedness through the issuance of 256,194 common shares at a deemed price of $3.10 per share. Two of the creditors involved in the settlement are considered Non-Arm's Length Parties under TSX Venture Exchange policies. Paragon issued an aggregate of 19,354 common shares to these Non-Arm's Length Parties in settlement of indebtedness totaling $59,997.40. The TSX Venture Exchange has conditionally accepted the Debt Settlement. The Settlement Shares are subject to a statutory hold period of four months and one day from the date of issuance. Peter Shippen is the Chief Executive Officer and Director of Paragon Advanced Labs Inc. The Company provides innovative analytical technologies to the global mining industry, focusing on addressing capacity bottlenecks in mineral assaying through the deployment of PhotonAssay™ technology and complementary analytical solutions. Paragon delivers faster, more accurate, and cost-effective mineral analysis for mining operators worldwide.

Paragon Advanced Labs Reports Q2 2026 Results

(TSXV: PALS) Paragon Advanced Labs Inc. reported financial and operating results for the three and six months ended June 30, 2026. Paragon generated quarterly revenue of $4.1 million during the second quarter of 2026, an increase of approximately 85% from $2.2 million in the first quarter of 2026 and more than five times the revenue of $0.8 million in the second quarter of 2025. The Company generated gross profit of $419,175, representing a gross margin of approximately 10.3%, compared with a gross loss of $217,217 in Q1 2026 and a gross loss of $590,000 in Q2 2025. Loss from operations was $4.10 million in Q2 2026, $3.96 million in Q1 2026, and $3.89 million in Q2 2025. Net loss was $3.35 million in Q2 2026, $3.66 million in Q1 2026, and $4.19 million in Q2 2025. For the six months ended June 30, 2026, revenue totaled $6.3 million, representing an increase of approximately 142% compared to $2.6 million during the corresponding period in 2025. For the six months ended June 30, 2026, the Company generated a gross profit of $0.2 million, compared to a gross loss of $0.1 million during the same period in 2025. Net loss from operations for the six months ended June 30, 2026 included depreciation on leased and other assets of $2.4 million, finance costs of $2.7 million and $1.1 million of nonrecurring professional fees related to capital markets guidance and advisory fees. For the second quarter, cost of sales included approximately $789,000 of depreciation; finance expense included approximately $1.28 million of lease interest; and the Company made approximately $1.89 million of actual cash lease payments. Paragon entered into a memorandum of understanding with McEwen Inc. contemplating an advanced laboratory and PhotonAssay™ facility supporting McEwen's Gold Bar operations in Nevada, with potential future facilities in Timmins, Ontario and Mexico. The Company intends to settle an aggregate of approximately $835,884 of indebtedness through the issuance of common shares at a deemed price of $3.10 per Share, subject to regulatory approvals. The Company intends to cancel an aggregate of 253,400 previously granted restricted share units, subject to regulatory approvals. John Pizimolas was appointed as Chief Commercial Officer effective August 24, 2026.

Paragon Advanced Labs Provides Business Update

(TSXV:PALS) Paragon Advanced Labs Inc. reported recent new business wins with major and intermediate gold producers, providing clear visibility on more than 200,000 incremental samples slated for PhotonAssay™ assay over the coming year. PhotonAssay™ utilization is increasing towards 50% across the company's network, up from approximately 33% utilization in June, 2026. The company entered into a memorandum of understanding with McEwen Inc. (NYSE: MUX) (TSX: MUX) for a strategic partnership beginning with a dual laboratory project in Eureka, Nevada. Paragon completed a debt settlement with entities related to Paul Andre Huet, settling US$2,353,000 (approximately C$3.3 million) of outstanding indebtedness through the issuance of 1,361,687 common shares at a deemed price of C$2.42 per share. Positive pricing trends continued into the third quarter, with incremental price per sample in excess of 20% growth. PhotonAssay™ turnaround is generally being delivered in 10 business days, including freight, sample prep and QA/QC. Paragon appointed John Pizimolas as Chief Commercial Officer, Kurt Headrick as Head of Operations, and Laurentiu Fulea as Canadian Operations Manager.

Paragon Advanced Labs Appoints John Pizimolas as Chief Commercial Officer

(TSXV:PALS) Paragon Advanced Labs Inc. announced the appointment of John Pizimolas as Chief Commercial Officer, effective August 24, 2026. Mr. Pizimolas is described as a globally recognised mining and laboratory services executive with more than twenty years of commercial leadership experience across the testing, inspection and certification (TIC) and mining technology sectors. He has held senior leadership roles with SGS, ALS, Bureau Veritas, Chrysos Corporation, and Veracio, and as Vice President, Global Growth at Chrysos Corporation (ASX: C79), he helped develop strategic commercial partnerships with many of the world's leading laboratory organisations and mining companies. Earlier, he established ALS Limited's global mine-site laboratory business and served as Vice President, Minerals Southeast Asia and Pacific at SGS. Mr. Pizimolas holds a Bachelor of Engineering (Metallurgical Engineering) from the University of South Australia and is a Fellow and Chartered Professional of the Australasian Institute of Mining and Metallurgy (FAusIMM CP). Paragon Advanced Labs Inc. provides innovative analytical technologies to the global mining industry, including the deployment of PhotonAssay™ technology and complementary analytical solutions. The company projects that by investing in people and combining analytical excellence, technical expertise, innovative technologies and close customer collaboration, it can help clients unlock greater value from laboratory data and make better technical, operational and commercial decisions.

(TSXV: PALS) Paragon Advanced Labs Inc. has settled USD$2,353,000 (representing the total amount outstanding of the 2023 USD$2,000,000 face value vendor loan, as previously announced) with The Paul & Joyce Huet Family Trust pursuant to a debt settlement transaction. Under the Debt Settlement, the Company has settled US$2,353,000 or CAD$3,281,847 of outstanding indebtedness through the issuance of 1,356,135 common shares of the Company at a deemed price of C$2.42 per share. The settlement amount reflects the original principal amount of USD$2,000,000, less a prepayment of USD$147,000, plus penalty amount in lieu of interest of USD$500,000, representing an imputed 8.33% simple rate of interest over the term of the note. The Company has extinguished the last remaining acquisition-related secured debt on its balance sheet. The Debt Settlement has received conditional acceptance of the Exchange. The Company also granted an aggregate of 418,440 restricted share units and 405,000 deferred share units to certain directors, officers, employees and consultants. The DSUs granted to directors and officers vest in three equal tranches, with one-third vesting on the date of grant and the remaining two-thirds vesting over the following two years, subject to confirmation by the independent members of the Board that specified corporate performance objectives have been met.

Paragon Advanced Labs Announces Appointment of Kurt Headrick as Head of Operations

(TSXV: PALS) Paragon Advanced Labs Inc. announced the appointment of Kurt Headrick as Head of Operations, effective July 15, 2026. Mr. Headrick brings more than 18 years of laboratory management experience across the mining and testing, inspection, and certification (TIC) sectors. He most recently served as Chief Chemist at Glencore's Sudbury Integrated Nickel Operations, where he managed a team of up to 26 direct reports. At Vale, he led the startup and operation of the assay laboratory at the Voisey's Bay mine, responsible for assaying up to $2.5 billion in nickel and copper concentrates annually. Mr. Headrick holds a Ph.D. in Analytical Chemistry from Carleton University and has authored more than 75 publications and presentations. Paragon Advanced Labs Inc. provides innovative analytical technologies to the global mining industry and is deploying PhotonAssay™ technology to address capacity bottlenecks in mineral assaying. The company delivers faster, more accurate, and cost-effective mineral analysis for mining operators worldwide.

Paragon Advanced Labs Agrees to Settle Debt Through Strategic Debt-to-Equity Conversion

(TSXV:PALS) Paragon Advanced Labs Inc. announced that it has agreed to settle outstanding indebtedness through the issuance of common shares of the Company (the "Debt Settlement"). Under the Debt Settlement, the Company will settle the face value of USD $2,000,000 together with accrued amounts of the secured promissory note issued in connection with the Paragon Geochemical acquisition, through the issuance of 1,356,135 common shares at a deemed price of C$2.42 per share. The conversion is being completed at the election of the creditor. Following the completion of the Debt Settlement (including existing common shares held), the creditor will hold approximately 6% of the Company's issued and outstanding common shares. The Debt Settlement remains subject to the acceptance of the TSX Venture Exchange and to compliance with applicable securities laws. Paragon Advanced Labs Inc. is a geochemical analytical testing company building a network of laboratories equipped with Chrysos PhotonAssay™ technology.

Paragon Advanced Labs Engages Koenig Scientific

Paragon Advanced Labs Inc. (TSXV: PALS) announced the engagement of Koenig Scientific to support its geochemistry capacity expansion, workflow optimization, and continual improvement of QA/QC reference materials and ISO/IEC 17025 compliance. Koenig Scientific, led by Alan Koenig, will assist in aligning quality systems, refining laboratory workflows, and enhancing internal controls as Paragon expands its laboratory network. The program aims to improve turnaround times, reduce variability, and deliver faster, more accurate, and cost-effective mineral analysis for mining operators worldwide. This partnership is part of Paragon's ongoing commitment to innovation and operational excellence in analytical technologies for the global mining industry.

Paragon Advanced Labs Provides Corporate Update

Paragon Advanced Labs Inc. (TSXV: PALS) announced the filing of its audited financial statements for 2025. The company reported revenue of $4,373,818 for the nine months ended December 31, 2025, and $1,816,604 for Q3 FY2025 (Oct to Dec 2025). Paragon completed its RTO and began trading on the TSX Venture on December 11, 2025. The company expanded its PhotonAssay™ footprint to three machines across Hamilton, Ontario, Surrey, British Columbia, and Sparks, Nevada, and increased sample prep capacity with new facilities in Timmins and Thunder Bay, Ontario. Revenue for Q1 FY2026 is anticipated to increase approximately 21% over the previous quarter.

Paragon Advanced Labs Doubling Geochemical Analysis Capacity at Nevada Facility

Paragon Advanced Labs Inc. (TSXV: PALS) announced it will soon complete a significant expansion of geochemical analysis capacity at its Sparks, Nevada laboratory facility. This expansion will double the facility's geochem throughput and includes a laboratory reconfiguration to optimise analytical workflow and improve QA/QC protocols. The company aims to meet anticipated client demand across Nevada and its broader network. Paragon provides innovative analytical technologies to the global mining industry, including PhotonAssay™ technology. The announcement highlights the company's commitment to faster, more accurate, and cost-effective mineral analysis.

Paragon Advanced Labs Appoints Laurentiu Fulea as Canadian Operations Manager to Support Continued Growth

Paragon Advanced Labs Inc. (TSXV: PALS), a leading provider of advanced geochemical and analytical laboratory services to the global mining industry, announced the appointment of Laurentiu Fulea as Canadian Operations Manager. Laurentiu brings more than 15 years of international experience in laboratory operations, analytical chemistry, and mining services. The announcement was made from Toronto, Ontario. This appointment is significant for investors as it highlights the company's commitment to strengthening its management team with experienced professionals.