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The 6th “Design Licensing and Business (DLAB) Support Scheme” Launch Ceremony

Announcement of 43 Selected Local Design Companies
Supporting Companies in Exploring Design Licensing Opportunities and 
Expanding Business in the Mainland

HONG KONG, Jan. 17, 2025 /PRNewswire/ — The Design Licensing and Business (DLAB) Support Scheme, organised by the Innovative Entrepreneur Association (“IEA”) and sponsored by the Cultural and Creative Industries Development Agency (“CCIDA”), held its launch ceremony today (January 17), announcing the 43 selected local design companies for the 6th DLAB Support Scheme. The organiser was honoured to have Mrs. Lowell CHO, Assistant Commissioner for Cultural and Creative Industries, as the Guest of Honour of the ceremony. She was joined by Ms. Cherrie CHONG, President of IEA, Ms. Iris WONG, Director of the Merchandise Trade and Innovation Department of the Hong Kong Trade Development Council , Mr. Zacharias CHENG, Vice President of IEA and Ms Ellen MOK, General Secretary of IEA to officiate at the launch ceremony. Following the launch ceremony, a sharing session was held where Ms. Tina CHOW from GZ Art-Land shared her insights on licensing development in the Mainland.

Group picture of the selected 43 local design companies and guests for the sixth DLAB.
Group picture of the selected 43 local design companies and guests for the sixth DLAB.

Since the first edition, DLAB has provided funding to 220 local design companies (“design companies”) which specialised in character design or possessing licensed design content, which helped them to understand more about the market opportunities in design licensing and to expand their business. The selected design companies for the 6th DLAB Support Scheme must be registered in Hong Kong, and have full ownership of the IP right of their design content which cannot be launched in more than six years. The design companies will not only receive comprehensive training on marketing, business operations and brand building, but also have access to a professional advisory team for guidance and support. Design companies in Group One must have been established for no more than six years, while those in Group Two must have been established for no more than twelve years. Both groups of design companies will setup an exhibition booth in the Hong Kong Pavillion at the Hong Kong International Licensing Show 2025 held from 28 to 30 April, 2025 at a discounted rental fee of HKD4,000 for new participants or HKD6,000 for past participants. Furthermore, they will be sponsored to participate in the Greater Bay Area exchange program held in February 2025, which aims at strengthening connection with Mainland enterprises and understanding the market potential in the Mainland.

Ms. Cherrie CHONG, President of IEA, said, “Over the past five editions, IEA has supported outstanding local companies and designers in developing licensing businesses through the DLAB Support Scheme. The Hong Kong Pavillion at the Hong Kong International Licensing Show and exchange programs also created opportunities for them to expand business networks and increase exposure, allowing more potential clients and customers to recognise the works of the selected companies and designers. Some of the companies successfully matched up with their right partners. We hope that the selected design enterprises of the 6th DLAB Support Scheme will inject new vitality into Hong Kong’s brands and creativity, enabling more local young brands to enter the international market and expanding the development of the entire industry.

For more details of the 6th DLAB, please visit www.dlabhk.com.

About Innovative Entrepreneur Association (IEA)

Innovative Entrepreneur Association is a non-profit making organisation, with the aim to foster the spirit of “Innovative Entrepreneurship” in Hong Kong, the Mainland and all over the world. With the cooperation with the government and other organisations, IEA helps the start-up companies acquire more experience and strategies in order to enhance their competitiveness. IEA always strives to promote Hong Kong as world-leading “Creative and Entrepreneurial Capital”.  

Website: http://www.iea.org.hk.

DLAB Logo

There are four letters in the logo of DLAB, “D” stands for Design, “L” stands of Licensing, “A” is And while “B” is the short form of “Business”

About Cultural and Creative Industries Development Agency

The Cultural and Creative Industries Development Agency (CCIDA) established in June 2024, formerly known as Create Hong Kong (CreateHK), is a dedicated office set up by the Government of the Hong Kong Special Administrative Region under the Culture, Sports and Tourism Bureau to provide one-stop services and support to the cultural and creative industries with a mission to foster a conducive environment in Hong Kong to facilitate the development of arts, culture and creative sectors as industries. Its strategic foci are nurturing talent and facilitating start-ups, exploring markets, promoting cross-sectoral and cross-genre collaboration, promoting the development of arts, culture and creative sectors as industries under the industry-oriented principle, and promoting Hong Kong as Asia’s creative capital and fostering a creative atmosphere in the community to implement Hong Kong’s positioning as the East-meets-West centre for international cultural exchange under the National 14th Five-Year Plan. 

Website: https://www.ccidahk.gov.hk.

K-beauty platform hwahae Surpasses 100,000 MAU Two Months After Global Website Launch

  • Over 80% of users based in the U.S., with the ranking page drawing the highest engagement
  • Japanese version to be launched in Q1 2025, strengthening its role as a bridge between K-beauty brands and global consumers

SEOUL, South Korea, Jan. 17, 2025 /PRNewswire/ — Birdview Co., Ltd. (Co-CEOs: Woong Lee and Kyungil Kim), the operator of the beauty platform hwahae, announced that its global website has surpassed 100,000 monthly active users (MAU) just two months after its launch in November 2024.

K-beauty platform hwahae Surpasses 100,000 MAU Two Months After Global Website Launch
K-beauty platform hwahae Surpasses 100,000 MAU Two Months After Global Website Launch

hwahae introduced its English-language website in November 2024 to enhance accessibility for global users amid growing international interest in K-beauty. Since its launch, the platform has experienced rapid growth, surpassing 100,000 MAU. By country, more than 80% of users are based in the United States, followed by Japan and Singapore.

The global website offers key features popular among Korean users, including category-based rankings, the hwahae Awards, cosmetic ingredient insights, and authentic consumer reviews, all translated into English. The platform provides data on over 370,000 cosmetics and 9 million user reviews, leveraging large language models (LLMs) to deliver comprehensive and reliable information.

According to Hwahae, global users spend the most time on the ranking page, reflecting its popularity. hwahae’s rankings, based on real user reviews, are widely regarded as one of the most trusted references for Korean consumers when purchasing beauty products and are now available to global audiences.

In Q1 2025, hwahae plans to launch a Japanese version of its global website and introduce a marketing solution in collaboration with global influencers during the first half of the year. These initiatives aim to help Korean beauty brands effectively promote themselves on the international stage.

Furthermore, hwahae is set to expand into the global B2B distribution sector within the year, supporting the growth of K-beauty brands by enhancing their international visibility and providing comprehensive support across marketing, distribution, and other areas.

“Within just two months of our global web launch, we surpassed 100,000 monthly active users, confirming the strong interest of global users in K-beauty. We aim to make this year the starting point for full-scale global expansion and focus on promoting outstanding Korean beauty brands overseas as the ‘Netflix of the K-beauty industry,'” said Woong Lee, CEO of hwahae.

Hanwha Life Launches ‘Mobile Family Center’ in Indonesia to Strengthen Community-Centered Mental Health Support for Women and Children

  • Following the launch of Digital Family Center last year, Mobile Family Center is now open
  • Provides on-site psychological and self-reliance counseling for women and children facing difficulties at home
  • Over a decade of consistent family-focused social contribution activities, building strong community trust

JAKARTA, Indonesia, Jan. 17, 2025 /PRNewswire/ — Hanwha Life announced that, on January 16, it handed over its “Mobile Family Center,” which was designed to build psychological and emotional safety nets for women and children, to the Indonesian government at the Jakarta City Hall. Following the launch of the “Digital Family Center” at the Ministry of Women’s Empowerment and Child Protection in Jakarta last year, “Mobile Family Center” aims to directly support underserved areas by adding mobile services.

Inside the “Mobile Family Center” vehicle, Teguh Setyabudi, Acting Governor of Jakarta, Indonesia (left), and Hong Jeong-pyo, Vice President of Hanwha Life (right), pose for a commemorative photo with counselor and beneficiary child.
Inside the “Mobile Family Center” vehicle, Teguh Setyabudi, Acting Governor of Jakarta, Indonesia (left), and Hong Jeong-pyo, Vice President of Hanwha Life (right), pose for a commemorative photo with counselor and beneficiary child.

Hanwha Life’s “Digital Family Center” has been installed in two locations in the Jakarta area in collaboration with local child centers to provide mental care programs for women and children as well as counseling to promote welfare. This is the result of a partnership between Hanwha Life, the Jakarta government, and Save the Children, which has been ongoing since 2023.

The newly launched “Mobile Family Center” consists of a specially modified vehicle equipped with a counseling room, nursing room, and lounge. This mobile service will visit various regions on designated days, with the experts providing psychological counseling and self-reliance support programs. By offering this mobile center, access to welfare services will improve as people will no longer need to go long distances to use mental health services.

The Technical Service Unit for the Center for Women and Children Protection in Jakarta handled 1,682 cases of violence against women and children throughout 2023. These cases involved 665 girls, 286 boys, and 731 adult women. This number represents an increase compared to 2022, which recorded 1,455 cases of violence against women and children. Addressing the rising number of violence cases against women and children certainly requires specific solutions. The innovation of the Mobile Digital Family Center is expected to be a strategic step in strengthening the protection of women and children.

Hanwha Life’s newly launched mobile counseling service will be able to operate in various locations, such as markets and apartment complexes. The mobile unit allows counselors to be closer to the community, enabling them to report issues they are experiencing, especially those related to violence against women and children. This innovation makes it easier for people to access counseling services, particularly for those who are reluctant or unaware of how to report the problems they are facing.

The handover ceremony was attended by over 200 participants, including Teguh Setyabudi, Acting Governor of Jakarta, Hong Jeong-pyo, Vice President of Hanwha Life, Rosianto Hamid, Chief Program Impact Creation of Save the Children Indonesia, Mochamad Miftahulloh Tamary, Director of the Ministry of Women’s Empowerment and Child Protection, government officials, child protection agencies, and residents.

The attendees had the opportunity to experience the services provided inside the counseling vehicle firsthand, and share feedback from the residents, children, and counselors to discuss ways to operate this center more effectively and practically.

Hong Jeong-pyo, Vice President of Hanwha Life, stated, “We are delighted to bring essential support to the residents through “Mobile Family Center”. We will continue to uphold our social responsibilities towards Indonesian communities, improving the quality of life for the local residents.”

Hanwha Life first entered the Indonesian market in 2012 and has steadily expanded its footprint, now operating a nationwide network of 26 branches centered in Jakarta. Since its early days in the market, the company has consistently engaged in various social contribution activities, aimed at fostering a family-friendly environment in the region, including volunteer work for children in underserved areas, establishment of community child centers, and creation of youth entrepreneurship academies. These efforts have helped build strong trust within the local communities.

The company plans to further strengthen community-centered initiatives in global markets by promoting and implementing inclusive finance, reaching out to neighbors in need and making a meaningful impact on their lives.

GROWNSY LAUNCHES NEW BABY BOTTLE WASHER DESIGNED TO SAVE TIME FOR MODERN PARENTS

NEW YORK, Jan. 17, 2025 /PRNewswire/ — GROWNSY, the brand dedicated to supporting new parents with cutting-edge and thoughtfully curated products, today announces the launch of the Baby Bottle Washer. This efficient appliance is the latest addition from the brand, designed to make life easier for busy modern parents everywhere.

With the touch of a single button, this all-in-one solution streamlines parents’ routines with effortless, hands-free washing, sterilizing, drying, and storage of baby bottles, pump parts, and more. Equipped with 40 high-pressure spray jets, the Baby Bottle Washer ensures a deep and thorough clean for every bottle, eliminating 99.9% of germs with a high-temperature water rinse. Simply load the bottles, add water, and let the washer handle the rest. It’s a stress-free solution for today’s busy families.

The Baby Bottle Washer’s universal fit and large capacity accommodates up to four bottles along with tops and other baby accessories. Parents can even watch the cleaning process through the transparent cover, offering peace of mind that every corner is spotless.

The washer is equipped with four flexible modes for a variety of needs: Wash Mode offers a quick 30-minute cycle for washing and sterilizing; AUTO Mode delivers an 81-minute full cycle that washes, sterilizes, and dries; Sterilizer Mode provides a focused 28-minute boiling water sterilization; and Storage Mode ensures a 60-minute drying cycle with 72-hour sterile storage.

To complement the Bottle Washer, GROWNSY is known for a variety of other popular products including the GROWNSY Bottle Warmer and GROWNSY Nasal Aspirator.

The GROWNSY Baby Bottle Washer is now available for purchase at GROWNSY, Amazon and at select retailers. For more information, visit https://grownsy.com/collections/baby-bottle-washer/products/baby-bottle-washer-pro-cleaner-sterilizer-and-dryer.

About GROWNSY

GROWNSY is the trusted brand for modern parents—those who are navigating the challenges of parenthood while staying true to their personal values of reliability, functionality, and health. Our products are designed to make parenting easier, with solutions that fit seamlessly into busy, multi-faceted lifestyles.

Media Contact
Grownsy PR Team
awen@grownsy.com 

THE KOREA INDUSTRY DAILY: Twinny and TeamFresh Collaborate to Enhance Logistics Center Productivity with Autonomous Picking Solution

SEOUL, South Korea, Jan. 17, 2025 /PRNewswire/ — Cold chain logistics company TeamFresh (CEO Seong-il Lee) has partnered with autonomous robot specialist Twinny (Co-CEOs Hong-seok Cheon and Young-seok Cheon) to implement Twinny’s “NarGo Order Picking” solution, aiming to boost the productivity of logistics center operations.

Twinny and TeamFresh Collaborate to Enhance Logistics Center Productivity with Autonomous Picking Solution
Twinny and TeamFresh Collaborate to Enhance Logistics Center Productivity with Autonomous Picking Solution

Twinny announced on the 7th that the two companies have signed a memorandum of understanding (MOU) to collaborate on logistics center automation and efficiency enhancement.

Boosting Logistics Center Efficiency with NarGo Order Picking

Under the agreement, TeamFresh plans to introduce an automated system using Twinny’s NarGo Order Picking at its Dongicheon logistics center. This system is expected to improve inventory management, classification, and dispatch operations with greater speed and accuracy.

Additionally, TeamFresh aims to extend the application of NarGo Order Picking to its other domestic logistics centers and its facility in Japan. This expansion is intended to enhance the productivity of all logistics centers while broadening its domestic and international customer base.

Commitment to Stable Operations and Customized Solutions

Twinny has committed to ensuring the seamless delivery and implementation of the NarGo Order Picking solution to support TeamFresh’s stable logistics center operations. The company also plans to develop various picking scenarios tailored to meet diverse customer requirements.

Seong-il Lee, CEO of TeamFresh, stated, “This agreement reflects our confidence in Twinny’s technological capabilities and the feasibility of integrating robotics into our operations. We look forward to leveraging NarGo Order Picking across both domestic and international logistics centers.”

Hong-seok Cheon, Co-CEO of Twinny, commented, “Introducing NarGo Order Picking to TeamFresh’s logistics centers not only demonstrates our technological expertise but also provides an opportunity for widespread adoption. We are committed to delivering excellent services that include operational cost savings.”

THE KOREA INDUSTRY DAILY: WOOJIN PLAIMM Advances Global Competitiveness with ‘Super-Foam’ Technology

SEOUL, South Korea, Jan. 17, 2025 /PRNewswire/ — WOOJIN PLAIMM, a renowned manufacturer of injection molding machines, is fortifying its global presence by leveraging its innovative ‘Super-Foam’ and ‘Clean-Foam’ technologies. These advancements, co-developed in collaboration with the company’s Austrian R&D Center, highlight the company’s commitment to integrating Korean manufacturing expertise with European technological innovation to expand its market footprint.

WOOJIN PLAIMM Advances Global Competitiveness with 'Super-Foam' Technology
WOOJIN PLAIMM Advances Global Competitiveness with ‘Super-Foam’ Technology

Austrian R&D Center: Driving Innovation in Control Technology

The Austrian R&D Center plays a pivotal role in enhancing the quality and technological capabilities of WOOJIN PLAIMM’s injection molding machines. By combining the Austrian team’s innovative technologies with the production capabilities of the Korean headquarters, WOOJIN PLAIMM continues to deliver cutting-edge solutions tailored to diverse global demands.

Richard Wagner, Head of the Control Research Team at the Austrian R&D Center, emphasizes the importance of this synergy, stating, “Our efforts are centered on developing efficient control systems and improving drive and hydraulic technologies. This collaborative approach ensures that we meet the dynamic needs of customers worldwide.”

‘Super-Foam’ Technology: Advancing Efficiency and Sustainability

WOOJIN PLAIMM’s ‘Super-Foam’ technology represents a breakthrough in low-pressure physical micro-foaming injection molding. This technique dissolves inert gas into molten resin under low pressure (below 10 MPa) before injecting it into molds, offering several benefits:

  • Quality Enhancement: Prevents shrinkage and deformation, significantly improving product quality.
  • Weight Reduction: Achieves up to 60% weight reduction compared to solid injection molding.
  • Cost Savings: Reduces raw material consumption, lowering production costs.
  • Productivity Improvement: Eliminates the need for pressure-holding processes, shortening cycle times.
  • Energy Efficiency: Operates at lower processing temperatures, contributing to energy conservation.
  • Durability and Versatility: Works with a wide range of materials without requiring specialized foaming resins.

These benefits, coupled with the global push for carbon neutrality, make ‘Super-Foam’ a transformative solution for industries like automotive, where lightweight and durable components are critical for the growing electric vehicle market.

Visual additions: A [Super-Foam Flowchart] is provided for detailed understanding.

‘Clean-Foam’ Technology: Beyond Limitations — No Sink, Clean Surface

‘Clean-Foam’ technology builds upon the innovations of ‘Super-Foam,’ utilizing a unique molding process where the skin layer is made of virgin material while the core layer consists of either virgin or recycled materials. This approach employs WOOJIN PLAIMM’s proprietary foaming techniques, resulting in:

  • No Sink: Eliminates sink marks entirely, ensuring a clean, smooth surface.
  • Ready-to-Paint: The absence of surface defects allows for immediate painting after injection molding.
  • Overcoming Limitations: Successfully addresses the limitations of traditional physical foaming, such as surface defects and sink marks.

The ‘Clean-Foam’ process is a game-changer, enabling high-quality production with a focus on sustainability and efficiency.

Comprehensive Support and U.S. Presence

For customers seeking in-depth information, WOOJIN PLAIMM provides extensive resources and support through its U.S. branches. Each location is strategically positioned to cater to regional needs:

  • Chicago (Corporation)
    • Address: 1620 Barclay Blvd., Buffalo Grove, IL 60089-4523, USA
    • Phone: +1-847-457-1916
    • Email: us@wjpim.com
  • Detroit
    • Address: 1696 Reserve Ct., Ann Arbor, MI 48103, USA
    • Phone: +1-224-500-5085
    • Email: us@wjpim.com
  • Atlanta
    • Address: 500 N. 26TH St., STE 107, Opelika, AL 36801, USA
    • Phone: +1-224-500-8138
    • Email: us@wjpim.com

For more details, visit the official WOOJIN PLAIMM website:

https://woojinplaimm.com.

Daqo New Energy’s Subsidiary Xinjiang Daqo Provides Preliminary Estimate of Net Loss for FY2024

SHANGHAI, Jan. 17, 2025 /PRNewswire/ — Daqo New Energy Corp. (NYSE: DQ) (“Daqo New Energy”, the “Company” or “we”), a leading manufacturer of high-purity polysilicon for the global solar PV industry, today announced that its subsidiary Xinjiang Daqo New Energy (“Xinjiang Daqo”) has provided an estimate of its net loss for the fiscal year ended December 31, 2024 to the Shanghai Stock Exchange.

Xinjiang Daqo estimates that under PRC GAAP, its net loss attributable to Xinjiang Daqo’s shareholders in FY2024 would be in the range of RMB2.6~3.1 billion, compared to net profit attributable to Xinjiang Daqo’s shareholders of RMB5.8 billion in FY2023. This estimate includes losses related to provisions for inventory impairment and fixed asset impairment.

Daqo New Energy currently beneficially owns approximately 72.4% of Xinjiang Daqo’s equity interest, and the majority of the Company’s revenue and net income are contributed by Xinjiang Daqo. The estimated net loss described in this press release was prepared solely for Xinjiang Daqo in RMB in accordance with PRC GAAP and is subject to change upon completion of Xinjiang Daqo’s internal financial closing and reporting process. In contrast, the Company’s consolidated financial results are reported in U.S. dollars in accordance with U.S. GAAP.

The estimated net loss described in this press release is based solely on the information currently available to Xinjiang Daqo’s management. Its actual result could vary materially from this preliminary estimate. Consequently, investors should exercise caution in relying on this preliminary estimate and should not draw any inferences from it regarding financial or operating data not provided. The estimated net loss should not be viewed as a substitute for full financial statements of Xinjiang Daqo prepared in accordance with PRC GAAP. In addition, the estimated net loss is not necessarily indicative of the results to be achieved by Xinjiang Daqo in any future period.

About Daqo New Energy Corp.

Daqo New Energy Corp. (NYSE: DQ) (“Daqo” or the “Company”) is a leading manufacturer of high-purity polysilicon for the global solar PV industry. Founded in 2007, the Company manufactures and sells high-purity polysilicon to photovoltaic product manufacturers, who further process the polysilicon into ingots, wafers, cells and modules for solar power solutions. The Company has a total polysilicon nameplate capacity of 305,000 metric tons and is one of the world’s lowest cost producers of high-purity polysilicon.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “might,” “guidance” and similar statements. Among other things, the estimated net loss for the year of 2024 contains forward-looking statements. The Company may also make written or oral forward-looking statements in its reports filed or furnished to the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the demand for photovoltaic products and the development of photovoltaic technologies; global supply and demand for polysilicon; alternative technologies in cell manufacturing; the Company’s ability to significantly expand its polysilicon production capacity and output; the reduction in or elimination of government subsidies and economic incentives for solar energy applications; the Company’s ability to lower its production costs; and changes in the regulatory environment. Further information regarding these and other risks is included in the reports or documents that the Company has filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date hereof, and the Company undertakes no duty to update such information or any forward-looking statement, except as required under applicable law.

First Phosphate Announces Filing of PEA Technical Report for the Bégin-Lamarche Phosphate Project, Saguenay-Lac-Saint-Jean, Quebec, Canada


Saguenay, Quebec – Newsfile Corp. – January 17, 2025 – First Phosphate Corp. (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company“) is pleased to announce it has filed on SEDAR+ its Preliminary Economic Assessment (“PEA“) Technical Report on the Bégin-Lamarche Phosphate Project (the “Property” or the “Project“) located 75 km northwest of Saguenay, Quebec, Canada.

The PEA provides a potentially viable case for developing the Property by open pit mining for the primary production of a phosphate concentrate and secondary recovery of magnetite concentrate.

Highlights of the PEA (all dollar amounts are in Canadian dollars on a 100% project ownership basis unless otherwise indicated):

  • The Project would produce an annual average of 900,000 tonnes of beneficiated phosphate concentrate at 40% P2O5 content and 380,000 tonnes of magnetite at 92% Fe2O3 content over a 23-year mine life.
  • The Project would generate a pre-tax internal rate or return (IRR) of 37.1% and a pre-tax net present value (NPV) of $2.100 Billion at an 8% discount rate at an approximate 3-year trailing average phosphate price plus a premium for purity and potential secure source of supply, and a 2-year trailing average magnetite price plus a premium for purity.
  • The Project would generate an after-tax internal rate or return (IRR) of 33.0% and an after-tax net present value (NPV) of $1.590 Billion at an 8% discount rate.
  • The Project would generate an after-tax cash flow of $700 Million in years 1 to 3, resulting in a 2.9-year payback period from start of production. Pre-tax cash flow in years 1 to 3 is $783 Million for a 2.6-year payback period.
  • The Project benefits from adjacent paved provincial road access and nearby electrical power line, and year-round accessible deep-sea Port of Saguenay at approximately 85 km driving distance. Initial capex for the Project is estimated at $675 million.
  • The PEA used Indicated and Inferred Mineral Resources in its calculations.
  • The Project has no outstanding royalties or financing streams registered against it.

The PEA is considered by P&E Mining Consultants Inc. to meet the requirements as defined in Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects. This PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be classified as Mineral Reserves, and there is no certainty that the PEA will be realized. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no guarantee that First Phosphate will be successful in obtaining any or all of the requisite consents, permits or approvals, regulatory or otherwise, for the Project to be placed into production. The PEA has an effective date of December 4, 2024, and the Technical Report is dated January 17, 2025.

The detailed results of the PEA were previously reported in the Company’s news release dated December 4, 2024, and there are no differences in the PEA Technical Report from those results.

The PEA Technical Report titled “Preliminary Economic Assessment of the Bégin-Lamarche Phosphate Property, Saguenay-Lac-Saint-Jean Region, Northern Quėbeccan be found on SEDAR+ (http://www.sedarplus.ca/) and the Company’s website at www.FirstPhosphate.com.

The PEA was led by P&E Mining Consultants Inc. with contributions from BBA Inc.

Qualified Persons

The Qualified Persons responsible for the PEA Technical Report are as follows:

  • Andrew Bradfield, P.Eng. (P&E Mining Consultants Inc.),
  • Eugene Puritch, P.Eng., FEC, CET (P&E Mining Consultants Inc.),
  • Antoine Yassa, P.Geo. (P&E Mining Consultants Inc.),
  • D. Grant Feasby, P.Eng. (P&E Mining Consultants Inc.)
  • John Henning, Ph.D, P.Eng. (BBA Inc.),
  • Hugo Latulippe, P.Eng. (BBA Inc.),

The scientific and technical disclosure in this news release has been reviewed and approved by Gilles Laverdière, P.Geo. Chief Geologist of First Phosphate and Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants Inc., both Qualified Persons under National Instrument 43-101 – Standards of Disclosure of Mineral Projects (“NI 43-101”). Mr. Puritch is independent of First Phosphate.

Restricted Share Units (“RSUs”)

The Company has also granted 70,000 RSUs of the Company (“RSUs”) to an eligible consultants of the Company. The RSUs vest on February 28, 2025.

About P&E Mining Consultants Inc.

P&E was established in 2004 and provides geological and mine engineering consulting reports, Mineral Resource Estimate Technical Reports, Preliminary Economic Assessments and Pre-Feasibility Studies. P&E is affiliated with major Toronto area based consulting firms for the purposes of joint venturing on Feasibility Studies.

About First Phosphate Corp.

First Phosphate (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate (“LFP”) battery industry. First Phosphate is committed to producing at high purity level, in a responsible manner and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate is owner and developer of the Bégin-Lamarche Property in Saguenay-Lac-St-Jean, Quebec, Canada that consists of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid of harmful concentrations of deleterious elements.

For additional information, please contact:

Bennett Kurtz
Chief Financial Officer
bennett@firstphosphate.com
Tel: +1 (416) 200-0657

Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Website: www.FirstPhosphate.com

Follow First Phosphate:
Twitter: https://twitter.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate

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Forward-Looking Information and Cautionary Statements

This news release contains certain statements and information that may be considered “forward-looking statements” and “forward looking information” within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved” and other similar expressions. In addition, statements in this news release that are not historical facts are forward looking statements, including, among other things,: the Company’s planned exploration and production activities; the properties and composition of any extracted phosphate; the Company’s plans for vertical integration into North American supply chains; the calculation of mineral resources at the project and the possibility of eventual economic extraction of minerals from the Project; the projected yearly production profile from operations; life of mine sustaining costs; process plant throughput and average grades; the projected economics of the Project, including total sales, premiums, margins, taxes, average annual production; the net present value of the Project; the internal rate of return on the Project; Project payback period, average yearly free cash flow, life of mine unit costs, projected mine life, the total initial capital and sustaining capital costs; and the project design, including the location of the tailings management facility, process plant, infrastructure area, stockpile areas, remediation plans and the proposed mine and transportation plans.

These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in the Company’s public disclosure record including the short form base prospectus dated June 5, 2024, as well as: there being no significant disruptions affecting the activities of the Company or inability to access required Project inputs; permitting and development of the Project being consistent with the Company’s expectations; the accuracy of the current mineral resource estimates for the Company and results of metallurgical testing; certain price assumptions for P2O5 and Fe2O3; inflation and prices for Project inputs being approximately consistent with anticipated levels; and the Company’s relationship with Pekuakamiulnuatsh Takuhikan First Nation and other Indigenous parties remaining consistent with the Company’s expectations.

There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There can be no assurance that any opportunity will be successful, commercially viable, completed on time or on budget, or will generate any meaningful revenues, savings or earnings, as the case may be, for the Company. In addition, the Company will incur costs in pursuing any particular opportunity, which may be significant. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company and, though they should be considered carefully, should be considered in conjunction with the risk factors described in the Company’s other documents filed with the Canadian and United States securities authorities, including without limitation the “Risk Factors” section of the Company’s Management Discussion and Analysis dated October 23, 2024 and Annual Report on 20-F dated July 8, 2024, which are available on SEDAR at www.sedarplus.ca. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Certain forward-looking statements in this press release may also constitute a “financial outlook” within the meaning of applicable securities laws. A financial outlook involves statements about the Company’s prospective financial performance, financial position or cash flows and is based on and subject to the assumptions about future economic conditions and courses of action and the risk factors in relation to such financial outlook noted in this press release. Such assumptions are based on management’s assessment of the relevant information currently available, and any financial outlook included in this press release is provided for the purpose of helping readers understand the Company’s current expectations and plans for the future. Readers are cautioned that reliance on any financial outlook may not be appropriate for other purposes or in other circumstances and that the risk factors described above, or any other factors may cause actual results to differ materially from any financial outlook. The actual results of the Company’s operations will likely vary from the amounts set forth in any financial outlook and such variances may be material.

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The issuer is solely responsible for the content of this announcement.