Small cap wrap: Ideal Power, MustGrow, Midnight Sun Mining, First Phosphate...

GameStop Corp (NYSE:GME) shares moved lower after Tuesday’s closing bell as the video game retailer reported a year-over-year drop in sales for the first quarter.

Sales for the period ended May 3 were $732.4 million, down from $881.8 million in the year-ago quarter and missing Street forecasts of about $750 million.

Northern Superior Resources Inc. (TSX-V:SUP, OTCQX:NSUPF) has reported new drill results from its ongoing 20,000-meter program at the Philibert gold project in Quebec, which have further extended a recently identified high-grade discovery zone.

The latest intercepts include 21.6 metres grading 4.82 grams per ton (g/t) gold, with a higher-grade section of 7 metres at 11.86 g/t gold, and a separate interval of 22.2 metres at 2.09 g/t gold, including 10 metres at 3.54 g/t gold.

Abacus Global Management (NASDAQ:ABL) on Tuesday firmly rejected allegations raised in a June 4 short-seller report, calling the claims “false and uninformed” and defending the integrity of its asset valuation practices.

The Orlando-based alternative asset manager said the short report’s two central assertions—that Abacus relies excessively on a single life expectancy provider, Lapetus Solutions, and that this inflates its balance sheet—are both incorrect.

MustGrow Biologics Corp. (TSX-V:MGRO, OTCQB:MGROF) said on Tuesday it has entered into a distribution agreement with US-based Phospholutions to bring RhizoSorb phosphorus efficiency technology to the Canadian market.

Under the agreement, MustGrow will market and sell RhizoSorb through its sales and distribution division, NexusBioAg.

Ideal Power Inc (NASDAQ:IPWR) has announced a new distribution partnership with Kaimei Electronic, a leading manufacturer of electrolytic capacitors, resistors, and motor fans.

Under the terms of the agreement, Kaimei will distribute Ideal Power’s products across Asia.

First Phosphate Corp. (CSE:PHOS, OTCQB:FRSPF) announced that its recent white paper submitted to the United States Department of Defense (DoD) Defense Industrial Base Consortium (DIBC) has received a "Met" rating.

The white paper outlines a proposal to secure a North American phosphate supply for lithium iron phosphate (LFP) cathode active materials (CAM). 

Midnight Sun Mining Corp (TSX-V:MMA, OTCQB:MDNGF) announced it has appointed junior mining veteran Adrian Karolko as vice president, exploration.

Karolko has more than 18 years of experience working on multicommodity projects around the world, most recently working on a feasibility study for Lumina Gold’s Cangrejos gold-copper porphyry deposit.

Shares in IXICO PLC (LSE:IXI, OTC:PHYOF) rose 9% after the neuro-imaging specialist confirmed its involvement in the first FDA-approved blood test for Alzheimer’s disease diagnosis.

The UK-listed company provided imaging analysis for Fujirebio Diagnostics’ Lumipulse test, which received US regulatory clearance in May.

Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has appointed Marty Rutherford to its board, as a non-executive director, as it seeks to advance its projects in Alaska.

Rutherford has held several senior policy roles in Alaska, including multiple terms as deputy commissioner of the Department of Natural Resources. She also served as acting commissioner and was a trustee of the Alaska Permanent Fund.

ANGLE PLC (AIM:AGL, OTCQX:ANPCY), the liquid biopsy company listed in London, has reported that its Parsortix system has been central to three new pieces of research exploring how cancer spreads and how new treatments could target that process.

The Parsortix device is used to capture and analyse circulating tumour cells (CTCs), which are cancer cells that break away from tumours and enter the bloodstream.

IXICO PLC (LSE:IXI, OTC:PHYOF), the neuro-imaging specialist, played a key role in the US approval of a new blood test designed to help doctors identify signs of Alzheimer’s disease in patients showing memory problems.

The company provided imaging analysis for Fujirebio Diagnostics, a Japanese-owned diagnostics group, which in May secured regulatory clearance from the US Food and Drug Administration (FDA) for its new Lumipulse test.

FireFly Metals Ltd (ASX:FFM, TSX:FFM, OTC:MNXMF)Ltd has received firm commitments totalling approximately A$95 million to accelerate its multi-pronged growth strategy centred on the Green Bay Copper-Gold Project in Newfoundland, Canada. 

The company also plans to raise another $5 million via a two-tranche institutional placement, and Canadian bought deal financing.

Livium Ltd (ASX:LIT, OTC:LMMFF) Ltd has begun strategic engagement with Australian and international rare-earth element (REE) extraction developers, aiming to expand its presence in the circular economy. The initiative builds on the company’s strengths in recycling and materials recovery, with REE extraction viewed as a natural extension of its existing services. The move comes as global REE demand grows amid supply chain risks and export restrictions from China.

The REE market is forecast to reach US$9.6 billion (AU$14.7BN) by 2026, with recycling representing a valuable and underdeveloped subset. Livium’s approach leverages its existing infrastructure, particularly through subsidiary Envirostream, and supports the needs of clients in clean energy and e-mobility.

Anteris Technologies Pty Ltd (ASX:AVR, NASDAQ:AVR). has appointed two new independent directors to its board—Gregory Moss and David Roberts—as part of its ongoing leadership development. Moss will serve as a Class I Director until the 2025 annual stockholder meeting, while Roberts has been appointed a Class III Director, with a term extending to 2027. Both appointments are effective from June 7, 2025 (USA) / 8 June 2025 (Australia) and include respective committee assignments. 

The appointments follow the resignation of Dr Wenyi Gu from the board on 5 June 2025 (USA) / 6 June 2025 (Australia), which the company noted was not due to any disagreement with management or operations.

Solis Minerals Ltd (ASX:SLM, TSX-V:SLMN, OTCQB:SLMFF) has applied to voluntarily delist from the TSX Venture Exchange (TSXV), consolidating its listing on the Australian Securities Exchange (ASX) as the primary platform for trading.

The shift follows a February 2025 placement that left TSXV shareholders holding just 8% of issued securities. With exploration now accelerating at its copper-gold projects in southern Peru, Solis Minerals aims to reduce corporate costs and governance complexity by pursuing a single-market focus.