Amazon is closing all of its Amazon Go and Amazon Fresh locations and increasing its focus on Whole Foods Market, the company announced Tuesday.

Amazon said it plans to convert some of the locations into Whole Foods Market locations. The company currently operates 57 Amazon Fresh stores and 15 Amazon Go locations, according to The Associated Press.

“While we’ve seen encouraging signals in our Amazon-branded physical grocery stores, we haven’t yet created a truly distinctive customer experience with the right economic model needed for large-scale expansion,” the company said in a blog post.

The last day of operation for Fresh and Go locations is February 1.

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“We are also increasing our investment in our physical stores that are resonating with customers. Whole Foods Market, a pioneer and leader in natural and organic foods, has seen strong success since our 2017 acquisition, with over 40% sales growth and expansion to more than 550 locations,” the company said.

“Customers are increasingly choosing Whole Foods Market for both everyday shopping and special occasions, as demonstrated by record-breaking customer traffic and year-over-year comparable store growth that is outpacing the broader industry. Accelerating this growth, we are now planning to invest in opening more than 100 new Whole Foods Market stores over the next few years,” it continued.

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The company said they “plan to introduce new store concepts” in the years ahead, including “a new supercenter physical retail concept” that would include “fresh groceries, household essentials, and general merchandise.”

The shift in focus comes days after reports that Amazon planned to cut thousands of jobs as part of a broader push to eliminate nearly 10% of its corporate workforce.

After initially cutting roughly 14,000 white-collar jobs in October, Amazon is expected to launch a second round of layoffs impacting a similar number of employees, with an overall target of about 30,000 jobs, although the scope may change, according to two sources cited by Reuters.

If fully realized, the cuts would amount to the largest layoffs in Amazon’s history, surpassing the roughly 27,000 jobs the company cut in 2022.

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Amazon CEO Andy Jassy said last year he expected the

Julian Treger, CoTec CEO commented: “We are very pleased with EXIM’s interest in the Project. The Project is strongly aligned with EXIM’s “Make More in America” initiative, which provides beneficial financing terms for U.S. companies facing oversees competition to ensure the United States reshores certain critical export areas, including the domestic manufacturing of permanent NdFeB magnets. We believe that the Project could be a major contributor to the United States’ targeted permanent magnet independence and the speed at which HyProMag USA’s capabilities could be deployed distinguishes the Project from potential competitors.“

Will Dawes, Mkango CEO commented: “The HyProMag USA development will be transformational for rare earth supply chains in the United States, and we are very pleased to see this reflected in the interest from EXIM. With the detailed engineering phase for the project well underway, HyProMag USA is well positioned to create a major new domestic hub for recycling and magnet manufacturing, and a platform for further growth in North America.”

The issuance of this LOI is aligned with Executive Order 2421 of March 20, 2025 “Immediate Measures to Increase American Mineral Production” which includes near-term actions to be determined and implemented by the agencies to fast-track permits, mobilize capital for mineral producers, and create offtake agreements for strategic stockpiling for minerals critical to the United States’ defense, technology, and energy.

HyProMag is commercializing Hydrogen Processing of Magnet Scrap (HPMS) recycling technology in the UK, Germany and the United States. HPMS technology was developed at the Magnetic Materials Group (MMG) at the University of Birmingham, underpinned by approximately US$100 million of research and development funding, and has major competitive advantages versus other rare earth magnet recycling technologies, which are largely focused on chemical processes but do not solve the challenges of liberating magnets from end-of-life scrap streams.

In November 2024, HyProMag announced an independent Feasibility Study which includes a Dallas Fort Worth recycling and magnet Hub, and two pre-processing facilities located in South Carolina and Nevada respectively^[i]. In March 2025, HyProMag USA announced the expansion of the detailed engineering phase to include three HPMS vessels^[ii] and that it was initiating concept studies for further expansion and complementary “Long Loop” recycling^[iii]. The DFW Hub’s annual production is expected to be 750 metric tons per annum of recycled sintered NdFeB magnets and 807 metric tons per annum of associated NdFeB co-products (total payable capacity – 1,557 metric tons NdFeB within five years of commissioning) over a 40-year operating life. It is expected the production facility will provide significant optionality to supply the U.S. market with additional NdFeB alloy powder while assisting in revitalising the U.S. magnet sector with the creation of 90-100…

The Offering is being conducted in connection with Silver47 and Summa entering into an arm’s length definitive arrangement agreement dated May 12, 2025 (the “Arrangement Agreement”) for an at-market merger, pursuant to which Silver47 and Summa have agreed to combine their respective companies (the “Transaction”) by way of a court-approved plan of arrangement. The combined company (the “Combined Company”) is expected to continue under the name “Silver47 Exploration Corp.”

Under the terms of the Transaction, Summa shareholders will receive 0.452 common shares of Silver47 (each whole share, a “Silver47 Share”) in exchange for each Summa common share (each a “Summa Share”) held (the “Exchange Ratio”).

Each Subscription Receipt will entitle the holder, without payment of any additional consideration and without further action on the part of the holder, upon the satisfaction of the Escrow Release Conditions (as defined herein) to receive one unit of Summa (a “Unit”). Each Unit will consist of one common share of Summa (a “Summa Share”) and one-half of one common share purchase warrant (each whole warrant, a “Summa Warrant”). Following the completion of the Transaction, each Summa Warrant will entitle the holder to purchase one common share of Silver47 Share (a “Warrant Share”) at a post-Exchange Ratio adjustment exercise price of $0.7964 per Warrant Share until the date that is 24 months following the satisfaction or waiver of the Escrow Release Conditions (defined herein).

The net proceeds of the Offering will be used to fund advancement of the Combined Company’s silver project portfolio in the United States, and for working capital and general corporate purposes.

The gross proceeds of the Offering, less the Agents’ expenses, 50% of the cash commission and 50% of an advisory fee payable by Summa to RCC will be deposited and held by Odyssey Trust Company (the “Escrow Agent”) in an interest bearing account (the “Escrowed Funds”) pursuant to the terms of a subscription receipt agreement entered into on the date hereof among Summa and RCC, and the Escrow Agent. The Escrowed Funds (less 50% of the remaining cash commission, 50% of the remaining advisory fee and any remaining costs and expenses of the Agents) will be released from escrow to the Combined Company, as applicable, upon satisfaction of the following conditions (collectively, the “Escrow Release Conditions”) by September 15, 2025 or such other date as may be mutually agreed to in writing between Summa, Silver47, and RCC (the “Escrow Release Deadline”), including:

(A) the completion, satisfaction or waiver of all conditions precedent to the Transaction in accordance with the Arrangement Agreement, to the satisfaction of RCC;

(B) the receipt of all required shareholder and regulatory approvals, including, without limitation, the conditional approval of the Exchange for the Transaction;

(C) the securities of the Silver47 or the Combined Company issued in exchange for the securities of Summa not being…

Key Highlights

• Some of the highest gold-antimony grades seen to date at Resurrection Ridge including:
  • LIM-46: 7.04 g/t AuEq* over 15.2 meters (6.37 g/t Au and 0.15% Sb), within 4.14 g/t AuEq* over 29.0 meters (3.56 g/t Au and 0.13% Sb
  • LB016: 0.61 g/t AuEq* over 36.6 meters from surface (0.16 g/t Au and 0.10% Sb) extending mineralization over 400 meters along strike and opening up large, undrilled areas of the Project for further expansion; the mineralization footprint now expands over 800 meters at Resurrection Ridge (see Figure 1, Figure 2) within a larger +5 km strike length between Resurrection Ridge and Cadillac Valley (Figure 3)
  • *Gold equivalents (“AuEq”) are based on assumed metals prices of US$2,000/oz of gold and US$35,000 per tonne of antimony (~30% discount to current spot prices), and assumed metals recoveries of 85% for gold and 70% for antimony.

• Drillholes at Resurrection Ridge are drilled with spacing showing strong potential to advance the Project to an initial gold-antimony Mineral Resource Estimate (“MRE”) (see Figure 1)
  • Over 20 holes have been released to date; the Company has more than 30 holes with pending results from Resurrection Ridge and Cadillac Valley

• Metallurgical testwork program has commenced with over 100 kg bulk sample from the Project and NevGold core drilling; results are expected over the coming weeks

• Resurrection Ridge and Cadillac Valley oxide gold-antimony mineralization demonstrates the significant oxide gold-antimony potential across a large, open mineralized footprint (Figure 1, Figure 4)

• Significant antimony (Sb) upside: historical drilling had an upper detection limit of 1% Sb but drill intervals   exceeded the limit ; these samples are currently being re-assayed at American Assay Lab in Reno, Nevada

• NevGold will continue re-evaluating historical drilling from the Project, focusing on both oxide gold and antimony

Limo Butte Planned 2025 Activities / Status Update

NevGold will continue its active exploration program at Limo Butte including:

• Evaluate the historical geological database with focus on gold and antimony (in progress) ;

• Re-analyze historical drilling with focus on gold and antimony (in progress) ;

• Metallurgical testwork (in progress) ;

• Drill test gold-antimony targets (in planning phase) .

Figure 1 – Limousine Butte Gold-Antimony Project with selected gold-antimony drillhole results.
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Figure 2 – Limousine Butte Gold-Antimony Project cross-section with selected gold-antimony drillhole results. Thin colored discs show Antimony (Sb ppm) in drilling, and wide colored discs show Gold (Au ppm) in drilling.
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Figure 3 – Limousine Butte Gold-Antimony Project with selected gold-antimony drillhole results at Resurrection Ridge and Cadillac Valley. The total strike length between Resurrection Ridge and Cadillac Valley is +5km.
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NevGold CEO, Brandon…