CNRC REPORTS RESULTS FOR PERIOD ENDING DECEMBER 31, 2024

Rhea-AI Summary

Cunningham Natural Resources Corp (OTC: CNRC) reported its financial results for December 31, 2024, showing a decrease in performance compared to 2023. Total revenue declined 5.2% to $20,061,402, while earnings decreased 5.5% to $10,892,174. The company reported earnings per share of $0.03 and a net asset value of $0.18 per share.

Key developments include completing a name change to CNRC and executing an asset spinoff dividend of Worldwide Diversified Holdings, Inc. (WDHI), which is pending OTC Markets listing in Q1 2025. CNRC's portfolio company, Cunningham Mining , achieved listings for its Nugget Trap Gold Token on nine exchanges, including BitMart. CNRC owns 9% of Cunningham Mining , with its token ownership valued at approximately $0.42 per CNRC share. The company plans to restructure for national exchange uplisting in Q1 2025.

Positive

• Planned uplisting to national exchange in Q1 2025
• 9% ownership in Cunningham Mining valued at $0.42 per CNRC share
• Asset spinoff dividend of WDHI subsidiary pending OTC listing
• Portfolio company's token listed on major exchanges including BitMart

Negative

• Revenue decreased 5.2% to $20.06M in 2024
• Earnings declined 5.5% to $10.89M in 2024
• Low earnings per share of $0.03

Earnings per share $0.03c
Net asset value of $0.18c per share

CHARLESTON, W.Va., Feb. 6, 2025 /PRNewswire/ -- Cunningham Natural Resources Corp. (OTC: CNRC) ("CNRC or the Company") announced financial results for December 31, 2024.  

Financial Results: Twelve Months December 31, 2024 vs Twelve Months December 31, 2023

• Total revenue for twelve months was $ 20,061,402 vs $ 21,117,265, a decrease of 5.2 %.
  
  
• Total earnings for twelve months were $10,892,174 vs $ 11,501,687, a decrease of 5.5 %.
  
  
• Earnings per share for twelve months were $ 0.03 per share.
  
  
• The company has a net asset value of $ 0.18 per share as of December 31, 2024.

The company is focused on traditional oil and gas opportunities and energy transition materials including mining opportunities in copper, lithium, gold, as well as other precious and rare earth metals. The highlights of the company's achievements in 2024 are outlined below.

• The company completed its name change to Cunningham Natural Resources Corp and a symbol change to CNRC;
  
  
• The company completed an asset spinoff dividend to shareholders of Worldwide Diversified Holdings, Inc. ("WDHI") a majority owned subsidiary of CNRC and has filed for listing of the shares to be traded on the OTC Markets in the first quarter of 2025. The company is working with a potential market maker to file the required Form 211, under Rule 15c2-11 of the Securities Exchange Act of 1934, to commence trading. The company is still completing due diligence with compliance department of the broker dealer.
  
  
• CNRC portfolio company Cunningham Mining Ltd has announced that its Nugget Trap Gold Token (RWA Token) (NGTG + NGTG$$) is now listed on more than nine different exchanges, including a new listing on BitMart (www.bitmart.com). BitMart Exchange is a global digital assets trading platform with over 2.2 million users worldwide, daily trading volume of more than $4 Billion and is one of the top ten exchanges.
  
  
• CNRC owns 9% of Cunningham Mining Ltd and its ownership in the token is now valued, on a fully diluted basis, at approximately USD $0.42 per share of CNRC. This has provided CNRC shareholders with a significant increase in the asset base and a potential future liquidity event in 2025. GEM Digital recently signed a Subscription draw down for $336m USD for the Nugget Trap Gold Token (https://bit.ly/4hMVmBw).
  
  
• The company also intends to file a restructuring to meet qualifications for a national exchange that is expected to be completed in the first quarter of 2025. All other requirements for uplisting will be submitted upon completion of regulatory review. The company looks forward to great success on a greater exchange where shareholder value can be maximized with potential dividends in place for 2025.

About Cunningham Natural Resources Corp:

Cunningham Natural Resources Corp (www.cunninghamnaturalresources.com) will be focused on traditional oil and gas opportunities and energy transition materials including mining opportunities in copper, lithium, gold, as well as other precious and rare earth metals. The investment focus will be global with sustainability at the core of the strategy.

FORWARD-LOOKING STATEMENTS:

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties.

Twitter: https://twitter.com/CunninghamCorp

View original content:https://www.prnewswire.com/news-releases/cnrc-reports-results-for-period-ending-december-31-2024-302369982.html

SOURCE Cunningham Natural Resources Corp

FAQ

What was CNRC's revenue and earnings performance in 2024 compared to 2023?

CNRC's total revenue decreased 5.2% to $20,061,402 in 2024, while earnings declined 5.5% to $10,892,174 compared to 2023.

What is CNRC's current net asset value per share?

CNRC reported a net asset value of $0.18 per share as of December 31, 2024.

When does CNRC plan to uplist to a national exchange?

CNRC plans to complete restructuring and uplist to a national exchange in the first quarter of 2025.

What is CNRC's ownership stake in Cunningham Mining worth?

CNRC's 9% ownership in Cunningham Mining , through its token ownership, is valued at approximately $0.42 per CNRC share.

When will CNRC's WDHI spinoff begin trading on OTC Markets?

The WDHI spinoff is expected to begin trading on OTC Markets in the first quarter of 2025, pending Form 211 filing and broker dealer approval.