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Techcombank: “Change Banking, Change Lives”— A Case Study and Blueprint for Platform-Led Growth

Modernizing banking with the Backbase Engagement Banking Platform


HANOI, VIETNAM – Media OutReach Newswire – 19 December 2024 – Backbase, the creator of the Engagement Banking Platform has released an in-depth video case study showcasing Techcombank (TCB), Vietnam’s second-largest private bank and fifth largest by asset size, and its transformation of both retail and business banking. Using Backbase’s Engagement Banking Platform, Techcombank has redefined banking by delivering personalized, humanized experiences at scale while achieving rapid growth and operational efficiency.

Key highlights include:

  • Overall Impact: Achieved consistent double-digit growth year-on-year, scaling operations to support millions of customers without increasing headcount, and driving significant efficiencies.
  • Retail Banking: Acquired over 2 million new customers digitally in 2023, with digital banking channels contributing more than 50% of total savings and investments. The app has maintained a 4.8-star rating with over 200,000 customer reviews, showcasing customer satisfaction and adoption. Weekly feature releases highlight the unparalleled speed of innovation.
  • Business Banking: Delivered an award-winning corporate banking platform, rated 4.9 stars, enabling 90% of payment transactions via mobile and reducing account opening times to just 30 minutes.

Behind the Transformation
Techcombank’s leadership emphasized the importance of selecting a platform that enables creativity and adaptability to meet constantly evolving customer needs. Backbase’s Engagement Banking Platform offered the dual advantages of scalability and freedom—freedom to integrate with existing systems, build differentiated journeys, and test innovations without being constrained by legacy limitations.

Leadership and Vision
Under the guidance of Pranav Seth, Chief Digital Officer, and Mukesh Pilania, EVP and Head of Digital Banking, Techcombank focused on delivering experiences tailored to Vietnam’s diverse customer base. Pranav shared, “We never wanted to pick a product that would limit us in terms of the creativity in meeting evolving customer needs. As much as possible, we leverage out-of-the-box capabilities we can get from the platform but every time there’s a difference needed, we have built our technical capabilities and collaboration with Backbase for our team to modify the platform to achieve exactly what we envision.”

Strategic Importance for the Banking Sector

Techcombank’s transformation sets a benchmark for modernization in retail and business banking, demonstrating how customer-centric strategies can drive both engagement, preference, and growth. For banks across Asia, this journey offers a blueprint for achieving sustainable success in a rapidly evolving industry.

Watch Techcombank’s success story video here.
Hashtag: #Backbase, #digitalbanking, #engagementbanking, #retailbanking, #omnichannelbanking, #businessbanking, #corporatebanking, #smebanking


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

Backbase

Backbase is on a mission to re-architect banking around the customer.

Backbase created the Backbase Engagement Banking Platform – a unified platform with the customer at the center, empowering banks to accelerate their digital transformation. From customer onboarding to servicing, loyalty, and loan origination, our single platform — open and frictionless, with ready-to-go apps — improves every aspect of the customer experience. Built from the ground up with the customer at the heart, our Engagement Banking Platform easily plugs into existing core banking systems and comes pre-integrated with the latest fintechs so financial institutions can innovate at scale.

Industry analysts Gartner, Omdia, and IDC continuously recognize Backbase’s category leadership position. Over 120 financial institutions around the world have embraced the Backbase Engagement Banking Platform. In APAC, the customers we serve include ABBANK, BDO Unibank, Bank of the Philippine Islands, China Bank, EastWest Bank, HDFC Bank, JudoBank, OCB, Techcombank, and TPBank.

Backbase is a privately funded fintech company, founded in 2003 in Amsterdam (Global HQ), with regional offices in Singapore (APAC HQ), Atlanta (Americas HQ), and operations in Australia, India, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Latin America, and the UK.

Techcombank

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) is one of the largest joint stock banks in Vietnam, and a leading bank in Asia, with a vision to Change Banking, Change Lives. The Bank pursues a proven customer-centric strategy in providing a broad range of retail and corporate banking solutions and services to help financially empower its customers. Techcombank has 13.4 million retail and corporate customers, which it serves through a market-leading digital banking platform and mobile app, and an extensive network of transaction service outlets at locations across Vietnam. The Bank’s ecosystem approach, co-created through partnerships in multiple key economic sectors, adds further scale and differentiation in one of the fastest growing markets in the world. Techcombank is rated A+ by FiinRatings, Ba3 by Moody’s and BB- by S&P, which is the highest among Vietnam joint stock commercial banks.

Vietnam boosts eel exports by improving quality standards


HANOI, VIETNAM – Media OutReach Newswire – 19 December 2024 – Vietnamese eel exporters have focused on enhancing quality standards to meet the stringent demands of international markets.

Mud-free eel farming model using composite tanks
Mud-free eel farming model using composite tanks

This commitment ensures the competitiveness of Vietnamese eels in high-value markets, paving the way for further expansion and solidifying Vietnam’s position as a global player in the eel export industry.

Leveraging advantages to expand exports

In recent years, Vietnam’s eel farming and export industry has experienced rapid growth, establishing a relatively complete industrial chain encompassing breeding, farming, feed manufacturing, processing and export. Annual eel production is estimated at 50,000 to 60,000 tonnes, with the majority concentrated in the Mekong Delta provinces, including Dong Thap, An Giang, Hau Giang, Tien Giang and Can Tho. These regions boast ideal natural conditions for eel farming.

Eel farming has become a key aquaculture component, creating numerous jobs, alleviating poverty and boosting incomes in rural areas. The adoption of innovative techniques, such as mud-free eel farming in composite tanks, has further enhanced productivity and efficiency.

Eels are a popular freshwater aquatic species worldwide. Vietnamese eels (Monopterus albus) are highly regarded for their nutritional value and adaptability to freshwater environments. They are especially prized for their nutritious meat, which is rich in protein, vitamins and minerals. Often referred to as ‘ginseng of the water,’ eels are favoured for their health benefits and exquisite taste.

Vietnam’s eel exports have surged over recent years. In 2023, total export revenue reached about US$1.7 million, primarily driven by demand in the US and Japan. By 2024, with China emerging as a significant market, several Vietnamese companies gained approval to export eels through official channels.

As of October 2024, Vietnam’s eel exports totalled $2.98 million, with a volume of around 670 tonnes. China accounted for nearly half of the exports (300 tonnes), followed by Japan (50 tonnes), the US (38 tonnes) and South Korea (33 tonnes). Export revenue is projected to reach $3.6 million in 2024, doubling the 2023 figures.

Meeting rising standards

Continuous innovation, technological advancement and enhanced management practices are pivotal for Vietnam’s eel industry to meet growing market demands and boost exports. State agencies, research institutions and businesses prioritise the development and application of advanced technologies to produce disease-resistant eel breeds, improve breed quality, control farming environments and manage disease outbreaks. These efforts aim to optimise efficiency and product quality.

Seafood enterprises have also diversified processed eel products to better meet the requirements of export markets. Meanwhile, authorities have intensified food safety supervision at both central and local levels and guided the industry toward standardisation.

Eel farms are adopting quality certification systems, including VietGAP and GlobalGAP. Transparent documentation of farming processes, feed origins, medication usage and eel breeds is also required.

Standardised closed-loop farming minimises disease risks, reduces costs and enhances product quality, aligning with stringent international standards. Currently, over 60 Vietnamese seafood companies are certified to export eel products to demanding markets, including the EU, Japan, the US, South Korea and China. The recognition and approval from these markets signal a strong opportunity for Vietnam’s eel industry to expand production and scale up exports in the coming years.

Promising prospects for eel exports

The growing demand for high-quality eel among Chinese consumers and Asians in global markets presents significant opportunities for Vietnam’s eel export industry to thrive in the coming years.

Along with continuing to exploit and leverage favourable natural conditions, Vietnam’s eel farming export industry will improve modern, safe and sustainable farming practices free of antibiotics and heavy metal residues.

Enhanced management systems, traceability and compliance with international food safety standards will give Vietnam’s products a competitive edge, especially in stringent markets. Domestic companies are actively exploring new market opportunities, building brand recognition and improving product quality to align with global standards. As a result, Vietnamese eel is increasingly recognised for its quality and ability to meet the preferences of consumers worldwide.

Vietnam’s eel export industry expects greater support and collaboration from international regulatory bodies for import approvals and encourages importers to choose Vietnamese eel. This will ensure more global consumers can enjoy high-quality, safe and competitively priced eel products.

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

Creative Economy Revolution: How ASEAN’s Youth are Leading the Charge

Group photo of participants in the Young Southeast Asian Leaders Initiative (YSEALI) Summit 2024 from across ASEAN and Timor-Leste

On 2 to 5 December, the Young Southeast Asian Leaders Initiative (YSEALI) Summit 2024 brought together 100 young leaders from across ASEAN and Timor-Leste in the World Heritage Site of Luang Prabang, under the theme “Connecting the Creative Economy.” 

Seno Grilled Chicken Earns Official Recognition as Savannakhet’s New Symbol

Seno Grilled Chicken Earns Official Recognition as Savannakhet's New Symbol
The Seno Grilled Chicken Association receives the ODOP trademark registration certificate on 12 December at the Outhoomphone District Club. The ceremony was attended by Mr. Thongsai Sayavongkhamdi, Mayor of Outhoomphone District, along with other officials and association members. (Photo Credit: Bounsu Phommathep)

On 12 December, Seno Grilled Chicken was officially recognized by Savannakhet authorities, becoming a new symbol of the central Lao province.

XTransfer Selected as Constituent Company of “Corporate Innovation Index 2024” by CUHK


HONG KONG SAR – Media OutReach Newswire – 19 December 2024 – XTransfer, the World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, proudly announced it has been selected as a constituent company of the Corporate Innovation Index (CII) 2024, published by the Asia-Pacific Institute of Business (APIB) at The Chinese University of Hong Kong (CUHK). XTransfer is the only cross-border payment platform to rank in the top 25 of the index, alongside other renowned innovative companies such as Hang Seng Bank, Airport Authority Hong Kong, Bank of East Asia, Lalamove, Cathay Pacific, China Resources, and CLP Power. CUHK recently held an award ceremony to recognise the top-performing large and small enterprises in the CII, with XTransfer’s representative present to receive the honour.

XTransfer’s representative (Center) receiving the award from Professor Cheung Waiman, Associate Dean (Graduate Studies) of CUHK Business School and Executive Director of APIB (Left), and Mr. Patrick Yeung Wai-tim, Chief Executive Officer of the Hong Kong General Chamber of Commerce (Right).
XTransfer’s representative (Center) receiving the award from Professor Cheung Waiman, Associate Dean (Graduate Studies) of CUHK Business School and Executive Director of APIB (Left), and Mr. Patrick Yeung Wai-tim, Chief Executive Officer of the Hong Kong General Chamber of Commerce (Right).

The Corporate Innovation Index (CII) is funded by the Innovation and Technology Commission of the HKSAR and developed by the APIB, the executive education arm of CUHK Business School, with the Hong Kong General Chamber of Commerce as a strategic partner. The index aims to develop a Corporate Innovation framework and measurement instruments to assess the overall innovation spirit and culture of Hong Kong corporates, as well as to measure the innovation capabilities and achievements of individual Hong Kong corporates, thereby recognising outstanding enterprises. The APIB invited 100 corporations and 200 SMEs to participate in the survey. Through assessing corporate performance in innovation leadership, business performance, and business model optimization, top-ranked achievers are selected to participate in the CII as constituent companies, while SMEs are rated on a scale of one to three stars.

Bill Deng, Founder and CEO of XTransfer, stated, “We are honoured to be selected as a constituent company of the Corporate Innovation Index (CII) 2024. We fully support APIB in promoting and enhancing innovation among businesses in Hong Kong. Being included in the index is a significant affirmation for XTransfer. We remain committed to our mission by leveraging innovative technology to provide secure and convenient cross-border financial services for SMEs in Hong Kong and worldwide, helping them reduce barriers and costs when expanding globally.”

Hashtag: #XTransfer #Award #CUHK #CII #Innovation #Index #SMEs #Payments





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

About XTransfer

XTransfer, World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, is dedicated to providing SMEs with secure, compliant, fast, convenient and low-cost foreign trade payment & fund collection solutions, significantly reducing the cost of global expansion and enhancing global competitiveness. Founded in 2017, the company is headquartered in Shanghai and has branches in Hong Kong SAR, the United Kingdom, the Netherlands, the United States, Canada, Australia, Singapore, Vietnam, Thailand, Malaysia, the Philippines, the UAE, Nigeria, etc. XTransfer has obtained local payment licenses in Hong Kong, the United Kingdom, the United States, Canada, and Australia. With more than 550,000 enterprise clients, XTransfer has become the industry No.1 in China.

By cooperating with well-known multinational banks and financial institutions, XTransfer has built a unified global multi-currency clearing network and built a data-based, automated, Internet-based and intelligent anti-money laundering risk control infrastructure centred on small and medium enterprises. XTransfer uses technology as a bridge to link large financial institutions and small and medium enterprises around the world, allowing SMEs to enjoy the same level of cross-border financial services as large multinational corporations.

XTransfer completed its Series D financing in September 2021 and achieved unicorn status. The Company possesses a diverse composition of international investors, including D1 Capital Partners LP, Telstra Ventures, China Merchants Venture, eWTP Capital, Yunqi Capital, Gaorong Capital, 01VC, MindWorks and Lavender Hill Capital Partners.

For more information:

F88 collaborate with MB to offer comprehensive financial solutions at over 850 financial stores


HANOI, VIETNAM – Media OutReach Newswire – 19 December 2024 – The Military Commercial Joint Stock Bank (MB) and F88 on December 16 officially signed a comprehensive cooperation agreement at MB’s headquarters, located at 18 Le Van Luong Street, Hà Nội. The partnership will enable customers to update their biometrics at more than 850 F88 transaction points, ensuring seamless banking transactions even when their phones do not support NFC scanning.

Representatives of MB and F88 at the signing ceremony. Photo courtesy of F88
Representatives of MB and F88 at the signing ceremony. Photo courtesy of F88

Due to growing demand for convenient banking services, MB and F88 have formalised the partnership to enhance financial access across Việt Nam.

Speaking at the signing ceremony, Vu Thanh Trung, vice chairman of MB, said: “Through more than 850 F88 transaction points and over 300 MB branches and transaction offices, MB hopes to reach more customers across the country, particularly in areas lacking convenient financial service access.”

Phung Anh Tuan, chairman and general director of F88, said: “The advantage we bring to MB is not only our nationwide network, but also our expertise and experience in the financial sector. This will allow MB to better and more professionally serve its customers.”

This strategic partnership will serve as a foundation for MB and F88 to deliver comprehensive financial services. The initial step will involve supporting customers to update their identification documents via the MBBank App at over 850 F88 transaction points. This will ensure smooth transactions as new biometric ID requirements come into effect on January 1, 2025, per the State Bank of Vietnam’s latest circulars. Customers who have not updated their biometric ID may face restrictions on online banking transactions.

Expanding financial access

From 2014 to 2023, MB and Viettel introduced innovative services like the BankPlus payment system, enabling remote money transfers in underserved areas. With the new Circular No 07/2024/TT-NHNN, MB has expanded its licensing to include “payment agent” services, adding new opportunities to this financial partnership.

With the new partnership, MB customers can now securely and easily update their ID information at any of over 850 F88 transaction points. MB has implemented specialised training programmes to ensure F88 staff can facilitate seamless and rapid ID updates via the MBBank App.

Customers visiting F88 transaction points will be guided by staff to perform NFC scanning and complete their ID updates quickly and securely through the app, even if their mobile device doesn’t support NFC scanning. F88’s nationwide presence also offers convenience for customers by reducing wait times and providing support for customers in regions with limited access to traditional bank branches.

This partnership strengthens MB’s position as one of the leading banks in Việt Nam, with enhanced biometric data update solutions. This is just the first step in the extensive MB-F88 partnership. Moving forward, the two companies plan to roll out a variety of financial solutions aimed at improving convenience, saving time and expanding services to customers nationwide.

Upcoming services expected to be introduced include cash deposits and withdrawals at agent locations, credit card balance payments, money transfers and payment order services, payment authorisations, collection services and payment-on-behalf solutions.

Through this collaboration, MB and F88 are committed to providing innovative, efficient and accessible financial experiences to millions of customers across the country.

Hashtag: #F88

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

About F88:

Founded in 2013, F88 has over a decade of experience and continues to expand its network, enhance its products, and offer convenient services to meet diverse financial needs. With 824 branches nationwide, F88 has provided over 10 million quick and easy financial solutions to more than 3.4 million customers, significantly improving the lives of everyday workers. The trust of our customers is the best testament to F88’s reliability and service quality.

Trend Micro Achieves 100% Coverage Rate in MITRE ATT&CK® Evaluations

Trend Vision One™ leaves attackers with nowhere to hide


HONG KONG SAR – Media OutReach Newswire – 19 December 2024 – Global cybersecurity leader Trend Micro Incorporated (TYO: 4704; TSE: 4704) announced its exceptional scores in the latest round of the MITRE ATT&CK® Evaluations. The results reflected Trend’s position at the forefront of global threat intelligence, with its flagship platform covering all major attack steps and all sub-steps in multiple categories.

To learn more about Trend’s performance in the MITRE ATT&CK® Evaluations, visit: https://www.trendmicro.com/en_hk/business/campaigns/mitre-engenuity-evaluations.html

Kevin Simzer, COO at Trend: “This year’s evaluations more closely mirrored real-world scenarios than in years past, which was both a challenge and an opportunity to showcase the expertise we provide to customers. Security leaders look to these evaluations to ensure that they’ve got the best technology and people working for them around the clock. And the results are clear: Trend Vision One™ leaves attackers with nowhere to hide.”

MITRE ATT&CK® Evaluations appraise a solution’s ability to detect targeted attacks leveraging known adversary behavior and recreating critical real-world attacks. This year’s evaluations incorporate multiple smaller emulations for a more nuanced and targeted evaluation of defensive capabilities. Trend achieved standout results in each of the scenarios, which emulated ransomware attacks against Linux and MacOS as well as attacks from the Democratic People’s Republic of Korea targeting MacOS.

Coverage rates excelled across the board:

  • 100% analytic coverage for all major steps
  • 100% analytic coverage in Linux and MacOS for all sub-steps
  • 100% analytic coverage in server platform (Windows/Linux) for all sub-steps
  • 99% analytic coverage for all sub-steps

Trend has been recognized as an industry leader in attack surface management, endpoint security, XDR, network analysis and visibility, and more. With results to match across all coverage categories, Trend Vision One™ demonstrates outstanding value.
Hashtag: #trendmicro #trendvisionone #visionone #cybersecurity #mitreatt&ck #mitre




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

About MITRE Engenuity ATT&CK® Evaluations

ATT&CK® Evaluations is built on the backbone of MITRE’s objective insight and conflict-free perspective. Cybersecurity vendors turn to the Evals program to improve their offerings and to provide defenders with insights into their product’s capabilities and performance. Evals enables defenders to make better informed decisions on how to leverage the products that secure their networks. The program follows a rigorous, transparent methodology, using a collaborative, threat-informed, purple-teaming approach that brings together vendors and MITRE experts to evaluate solutions within the context of ATT&CK. In line with MITRE Engenuity’s commitment to serve the public good, Evals results and threat emulation plans are freely accessible.

Trend Micro

Trend Micro, a global cybersecurity leader, helps make the world safe for exchanging digital information. Fueled by decades of security expertise, global threat research, and continuous innovation, Trend Micro’s AI-powered cybersecurity platform protects hundreds of thousands of organizations and millions of individuals across clouds, networks, devices, and endpoints. As a leader in cloud and enterprise cybersecurity, Trend’s platform delivers a powerful range of advanced threat defense techniques optimized for environments like AWS, Microsoft, and Google, and central visibility for better, faster detection and response. With 7,000 employees across 70 countries, Trend Micro enables organizations to simplify and secure their connected world.

First Phosphate Announces Intention to Complete $1,000,000 Non-Brokered Private Placement


Saguenay, Quebec – Newsfile Corp. – December 18, 2024 – First Phosphate Corp. (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company”) is pleased to announce a non-brokered private placement (the “Proposed Offering“) for gross proceeds of a minimum of $1 million.

The Proposed Offering is anticipated to consist of any combination of:

  • Flow-through shares of the Company (“Flow-Through Shares“) at a price of $0.35 per share (“Flow-Through Offering“) ; and
  • Hard dollar units of the Company (“Hard Dollar Unit“) at a price of $0.35 per Hard Dollar Unit (the “Hard Dollar Unit Offering“), with each Hard Dollar Unit comprised of: (i) one common share in the capital of the Company (“Common Share“), and (ii) one half of one Common Share purchase warrant (“Warrant“) with each whole Warrant exercisable for one Common Share at a price of $0.50 per Common Share until December 31, 2025, subject to an Accelerated Expiry Date (as defined below).

The gross proceeds from the Flow-Through Offering will be used to incur “Canadian exploration expenses” that are “flow-through mining expenditures” (as such terms are defined in the Income Tax Act (Canada)) related to the Corporation’s projects in Québec. The net proceeds received from the Hard Dollar Unit Offering will be used for exploration and development activities, working capital and for general corporate purposes.

The Proposed Offering is expected to close, in one or more tranches, on or before December 31, 2024, or such other date or dates as may be determined by the Company.

All securities issued under the Proposed Offering will be subject to a four-month and one day statutory hold period in accordance with applicable securities laws.

In connection with the Proposed Offering, eligible finders will be paid: (i) a fee consisting of 8%, in cash, of the gross proceeds raised from subscribers introduced by them, and (ii) such number of compensation warrants (“Compensation Warrants“) as is equivalent to 8% of the number of Hard Dollar Units or Flow-Through Shares issued to subscribers introduced by them. Each Compensation Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.50 per share until December 31, 2025, provided that if the volume weighted average trading price of the Common Shares on the CSE for any 5 consecutive trading days equals or exceeds $0.80, the Corporation may, upon issuing a press release, accelerate the expiry date of the Compensation Warrants to the date that is 30 days following the date of such press release (“Accelerated Expiry Date“). The Corporation reserves the right to pay cash finders’ fees on the Flow-Through Offering in common shares of the Corporation rather than cash (“Compensation Shares“) issued at the Flow-Through Offering issue price.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Completion of the Proposed Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals. There can be no assurance that the Proposed Offering will be completed, whether in whole or in part.

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 minimum gross proceeds of $1,000,000; the use of proceeds from the Proposed Offering; the terms of the Proposed Offering, including, the issuance of any securities, the closing date, and the receipt of all necessary approvals.

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: the receipt of all necessary approvals and the Company’s ability to raise the minimum gross proceeds of $1,000,000.

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 21, 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.

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

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