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NUS High School Students Win the Top Spot in Samsung Solve for Tomorrow Competition with AI-Powered Solution for Visually Impaired


SINGAPORE – Media OutReach Newswire – 29 February 2024 – Samsung Electronics Singapore today announced Team Blahaj from NUS High School of Mathematics and Science as the grand winner of the seventh edition Solve for Tomorrow competition in Singapore. Launched in August 2023, this program is designed to encourage secondary school students to think deeply about the social issues affecting their community and pioneer positive social change through technology and innovation.

Team Blahaj comprising of students Wang Zerui, Vincent Kwok, Christian Tan and David Chik will walk away with a total of $10,000 worth of Samsung products and $6,000 cash prize. NUS High School of Mathematics and Science will also be receiving a Samsung interactive digital whiteboard – the 55″ Flip Pro.

Team Blahaj testing their prototype, which allows visually impaired individuals to better understand and navigate their surroundings.
Team Blahaj testing their prototype, which allows visually impaired individuals to better understand and navigate their surroundings.

With the aim of revolutionising sensory experiences for visually impaired individuals, Team Blahaj has proposed a two-part solution that leverages advanced technologies such as AI to offer visually impaired individuals a detailed understanding of surroundings through auditory and tactile cues.

  • Software Solution: LiDAR and Object Detection – Utilising LiDAR and AI-driven object detection in smartphones, the solution can create an “obstacle map” with tactile representation and multisensory instructions. This enables users to navigate their environment seamlessly.
  • Hardware Solution: Real-time Tactile Interface – This interface translates the visual data captured by the device into tactile feedback, allowing users to “read” their surroundings through touch.

As many as 1.1 billion people were thought to have vision impairment in 2020, and this figure is predicted to increase by as much as 55% in the next 30 years, according to a report by the International Agency for the Prevention of Blindness (IAPB). The solution aims to transform the reality for visually impaired individuals and improve their overall quality of life by enhancing their ability to navigate their world independently and safely.

Sharing the inspiration behind their solution, Wang Zerui, Team Leader of Blahaj said: “Our inspiration stems from the desire to help enhance the quality of life for the visually impaired and even seniors in our community, including our own grandparents who are grappling with vision challenges. By leveraging modern technologies like AI, we hope to address the needs of these individuals and help forge a more inclusive society for everyone.”

“The ingenuity we see in this year’s Solve for Tomorrow competition reflects the limitless potential of our youths. Their dedication to addressing real-world challenges is inspiring and Samsung is proud to champion their efforts. We will continue to nurture our youths’ passion and creativity and provide them with the opportunities to transform their ideas into reality,” said Dennis Jang, President of Samsung Electronics Singapore.

Dennis was one of three judges who evaluated the students’ submissions in the final round of the competition. The other judges were Mock Yi Jun, Co-Founder and President of Advisory Singapore, and Kelvin Leung, Vice President of Openspace Ventures.

Driving Positive Social and Environment Changes with Technology and Passion

Other entries that stood out in this competition were the deep water culture-based hydroponics system by Team Glacial Planters from Pei Hwa Secondary School and the ElderGuard Innovations, a smart fall detection technology by Team Senior Safety Solutions from the School of Science and Technology, Singapore. Team Glacial Planters and Team Senior Safety Solutions won the 2nd and 3rd prizes, respectively.

Teams Glacier Planters and Senior Safety Solutions impressed the judges with their inventiveness, outstanding application of technology, and their solutions’ potential to bring positive change to our community and environment.
Teams Glacier Planters and Senior Safety Solutions impressed the judges with their inventiveness, outstanding application of technology, and their solutions’ potential to bring positive change to our community and environment.

Team Work for Youths from Pei Hwa Secondary School with their Work For Youths Web idea to improve the financial situation of lower-income families also won the People’s Choice Award.

“These secondary school teams have truly exceeded my expectations. Despite their youth, they’ve displayed outstanding maturity, awareness, and critical thinking in identifying and tackling the different issues in our community. Their remarkable solutions underscore the influential role of youth and technology in driving positive societal change. Congratulations to all the winning teams for their outstanding ideas,” said Kelvin Leung, Vice President of Openspace Ventures.

Preparing the Next Generations for the Future Digital Economy

The World Economic Forum recently reported that 1.1 billion jobs are likely to be radically transformed by technology in the next decade[1]. It is crucial to prepare the younger generations for the future by ensuring that they stay on top of relevant technical skills and competencies from a young age.

“Our Solve for Tomorrow journey has been an exciting and enriching one, giving us the chance to tackle real-world problems and bring our ideas to life. The hands-on experience not only offered us a glimpse into what our future careers in computing and software development might entail, but it also allowed us to sharpen our problem-solving skills, foster teamwork, and apply our knowledge in practical ways.” Zerui highlighted.

“Technology is changing the way we live, work, and play. Platforms like Solve for Tomorrow give students the tools and opportunity to imagine solutions to the problems they see around them, and help students realise that they’re never too young to innovate for the future. The digital economy of tomorrow will be designed by young people of today, and we should equip them early with the skills and confidence they need to create a more sustainable and inclusive society for generations to come”, said Mock Yi Jun, Co-Founder and President of Advisory Singapore.

For more information on Solve for Tomorrow and profiles of the judges, please visit the Samsung Solve for Tomorrow website: https://www.samsung.com/sg/solvefortomorrow/.

More details on the competition can be found in Appendix A.

###

Appendix A

About Samsung Solve for Tomorrow
The Solve for Tomorrow 2023 competition, launched on 23 August 2023, encourages students in Singapore to take a closer look at the social issues around them and think about how they can make a meaningful impact on the community. At its launch, more than 80 students, forming more than 30 groups of two to four, submitted a write-up of their ideas or solutions.

The platform also allows youth to express their creativity and passion while encouraging them to apply their knowledge and skills across multiple disciplines – including critical and design thinking, marketing and communications skills, technological expertise and STEM knowledge – when developing their ideas and solutions.

Competition Overview
All students aged 12 years old and above and are full-time Secondary 1 – 5 students in Singapore are eligible to join the competition. For students in secondary schools with 6-year Integrated Programme (IP), only full-time students in Secondary 1 – 4 are eligible to participate. You can find the full list of eligible schools here.

A total of 10 teams were selected as finalists in December 2023. A virtual workshop on design thinking was organised for all the finalist teams.

The public also got to vote for their favourite idea on the Solve for Tomorrow website. The finalist team with the most votes won the People’s Choice awards.

Judging Criteria for Finalists

  • 30%: Feasibility – Elaboration on how the solution can be created and implemented.
  • 20%: Creativity – Innovativeness, uniqueness and originality of proposed idea.
  • 25%: Technology – Elaboration on the use of technology involved and how it is used to solve the problem.
  • 20%: Video – Flow and effectiveness of the video.
  • 5%: Public Voting – Finalists’ ideas were posted online and the public can vote for their favourite idea.


Prizes

  • First Prize – Samsung products worth $10,000, $6,000 cash prize and Samsung’s interactive digital whiteboard – the 55″ Flip Pro worth S$4,806 – for the school
  • Second Prize – Samsung products worth S$7,000 and $4,000 cash prize
  • Third Prize – Samsung products worth S$5,000 and $2,000 cash prize
  • People’s Choice award: Samsung Galaxy Buds2 Pro

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

Samsung Electronics Co., Ltd

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, home appliances, network systems, and memory, system LSI, foundry and LED solutions, and delivering a seamless connected experience through its SmartThings ecosystem and open collaboration with partners. For the latest news, please visit the Samsung Newsroom at news.samsung.com.

Mead Johnson Nutrition Hong Kong achieves three consecutive wins of top prize at the HKB Greater Bay Area Enterprise Awards 2024


HONG KONG SAR – Media OutReach Newswire – 29 February 2024 – Mead Johnson Nutrition Hong Kong (“Mead Johnson”) proudly announces its triumphant win in the Infant and Child Nutrition category at the HKB Greater Bay Area Enterprise Awards for the third consecutive year. The remarkable accomplishment this year is attributed to its groundbreaking innovation in the upgraded relaunch of its HK Enfinitas brand, which exemplifies its unwavering commitment to nourishing a better start in life for infants and children.

Mead Johnson Nutrition Hong Kong achieves three consecutive wins of top prize at the HKB Greater Bay Area Enterprise Awards 2024

Mead Johnson strives to provide consumers with high-quality infant and child nutrition products through a professional and scientific approach. At the core of the HK Enfinitas brand is Mead Johnson’s dedication to delivering premium products inspired by breastmilk while supporting optimal growth and development in babies and young children.

Innovative products inspired by the benefits of breastmilk
In line with its mission, Mead Johnson has relaunched the upgrade version of HK Enfinitas, leveraging world-leading global scientific research on breastmilk. The innovative line of products is enriched with HMOs, Lactoferrin and MFGM, providing better immunity for babies and helping mums to extend their love to babies.

“We take great pride in winning the HKB Greater Bay Area Enterprise Awards once again, which demonstrates our endeavour in providing high-quality products for infants and children grounded in a century of nutrition science,” said Chloe Ko, Marketing & Acquisition Director and Co-Head of Cross Border, Hong Kong & Taiwan, Mead Johnson Nutrition (Hong Kong) Limited. “We are confident that our ongoing efforts will continue to create value for our consumers, our company, and society as a whole, enabling us to fulfil our purpose of nourishing a better start in life.”

Driving brand awareness and loyalty
The success of HK Enfinitas in the Greater Bay Area has been remarkable. The brand has garnered enthusiastic word-of-mouth and consumer recommendations on popular platforms such as WeChat, Xianhongshu, TikTok and various baby-focused social media channels. Notably, search traffic for the brand has surged by 29%, reflecting its growing popularity among parents in the cross-border market.

Moreover, Mead Johnson has received glowing feedback from health professionals and experts who endorse the safety and efficacy of their products. Since the launch of the new line, the company has witnessed an impressive 64% increase in early-stage users, highlighting consumers’ trust and confidence in the HK Enfinitas brand.

The prestigious HKB Greater Bay Area Enterprise Awards honours outstanding companies for their excellent performance and commitment to fostering regional collaboration, investment and development whilst demonstrating successful economic impact for the advancement of the Greater Bay Area.

Hashtag: #MeadJohnsonNutritionHongKong

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

About Mead Johnson Nutrition (Hong Kong) Limited

Mead Johnson Nutrition has been established for more than a century. Since its founding in 1905, the renowned infant and child nutrition brand has led the way in developing science-based pediatric nutrition products, guided by the mission to nourish the world’s children for a better start in life. Currently, Mead Johnson Nutrition provides more than 70 products in over 50 countries.

Excellent quality has helped Mead Johnson Nutrition earn the trust of nutritionists and parents. Its dedicated and rigorous approach, continuous innovation, tireless pursuit of excellence, and caring feedback to the community have also helped establish a good brand image.

Mead Johnson Nutrition (Hong Kong) Limited has been in Hong Kong for over half a century. It provides Hong Kong parents with high-quality, science-based products, various parenting information, and professional advice, gaining trust and support from parents.

Mead Johnson Nutrition’s scientists and healthcare professionals are focusing their efforts on the formula for children with special nutrition needs. Mead Johnson Nutrition is one of the very few brands that insists on producing the formula for children with special needs, giving them hope.

For more information, visit

Salavanh Province Initiates New Hydropower Project with Groundbreaking Ceremony

a groundbreaking ceremony for the new hydropower plant project on 24 February. (Photo: Pasaxon News)

A new hydropower plant project in Salavanh Province, the Xeset-Chan Rapids, commenced with a groundbreaking ceremony on 24 February.

Kaohsiung Vies for Win-Win at Kumamoto Expo in Japan


KAOHSIUNG, TAIWAN – Media OutReach Newswire – 29 February 2024 – As head of a delegation comprising officials and local businesses to KUMAMOTO Industrial Revitalization EXPO 2024, Deputy Mayor of Kaohsiung Lo Ta-sheng officiated the opening of the Kaohsiung Pavilion and signed an MOU on innovative startups with the Japanese city. On top of attesting to the friendship between the two cities and expanding bilateral exchanges, Kaohsiung’s attendance at the expo also brought the city’s cutting-edge chipmaking technologies and highly competitive tourism-related food products to the international stage. Kumamoto Prefecture Governor Ikuo Kabashima made a special appearance to express gratitude to the Kaohsiung City Government and the hope that more business opportunities can be created, thereby fostering closer collaboration in the semiconductor supply chain and strengthening relations between Taiwan and Japan.

Kumamoto Governor Kabashima’s friendly chat with Deputy Mayor Lo at the Kaohsiung Pavilion
Kumamoto Governor Kabashima’s friendly chat with Deputy Mayor Lo at the Kaohsiung Pavilion

Deputy Mayor Lo said that since the establishment of sister city ties in 2017, Kaohsiung and Kumamoto have developed diverse cooperation in tourism, education, culture, and industry. Over this period, Kumamoto has sent a number of delegations to Kaohsiung for a first-hand look at the latter’s lantern festival celebrations, commuter pass program, and harbor-front development among others. During this ongoing visit, the Kaohsiung delegation aimed to learn more about Kumamoto’s advanced green energy and circular economy facilities that are quite suitable as points of reference for the city’s own urban planning. The newly signed MOU on innovative startups with Kumamoto marks the beginning of collaboration in promoting startup ventures between Taiwan and Japan. Kaohsiung expects to foster more exchanges and collaborations with other innovative startup clusters in Japan to assist the city’s own startups in creating an international presence and bring about a convergence of startups from other parts of the world.

Since 2016, Governor Kabashima said, Kumamoto has been confronted with a myriad of challenges: earthquakes, the COVID-19 pandemic, and flooding. Yet, industry in the prefecture has managed to revitalize itself on the back of public-private partnerships. KUMAMOTO Industrial Revitalization EXPO 2024 not only attests to success in having surmounted the said challenges but also heralds the promise of Kumamoto’s rising to a new peak on the industrial and economic fronts. Gratitude is warranted to the city government and businesses of Kaohsiung for their attendance, itself an act of solid support for Kumamoto’s recovery.

Group photo at the opening event of the Kaohsiung Pavilion
Group photo at the opening event of the Kaohsiung Pavilion

This EXPO gathers key semiconductor manufacturers from Japan, including Sony Semiconductor Manufacturing, a major global CMOS supplier. Sony’s representative also visited the Kaohsiung Pavilion, engaging in discussions to understand Kaohsiung’s semiconductor industry development policies and investment environment. The on-site interactions were enthusiastic.

Liao Tai-hsiang, director-general of the Economic Development Bureau, Kaohsiung City Government, said that the Kaohsiung delegation brought seven businesses to the Kaohsiung Pavilion for presenting their respective products at the expo. They were in turn approached by a good number of Japanese counterparts for business discussions. In addition to enhancing their brand visibility, 4DMEN Technology Co., Ltd., Taiwan Valqua Engineering International Ltd., Gongin Precision Ind. Co., Ltd., and Advanced Echem Materials Co., Ltd. learned more about Kumamoto’s semiconductor needs and broadened business reach accordingly, thereby helping deepen collaboration between the semiconductor sectors of Taiwan and Japan. Likewise, MAYUSHAN FOOD Co., Ltd., Joywell Cake Store Co., Ltd., and LE PONT took advantage of the occasion to present both Kaohsiung’s delicacies and their own latest offerings. Indeed, Kaohsiung’s attendance at the 2024 Kumamoto expo went a long way toward making the city’s brand names better known in Japan. The city’s meticulously planned series of exciting events also elicited a hearty response from Japanese businesses.

Hashtag: #Kumamoto #Kaohsiung #Japan

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

Gold price forecast for 2024 – Octa

According to many analysts’ forecasts, the price of gold may increase in 2024. Octa explains in the article what factors will influence the dynamics of the gold price and what will happen to the market this year.


KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 29 February 2024 – Gold is trading above $2,000 per ounce in early 2024. Analysts expect that even later in the year, gold prices may remain above $2,000 per ounce, reaching new historical highs. Among the factors favouring this are geopolitical uncertainty, the likely weakening of the U.S. dollar, and potential interest rate cuts. But before relying on these factors in the future, we must understand how they have influenced the past.

Octa

A new scenario of gold price dynamics

For the past 90 years, the value of gold has depended primarily on the volume of transactions between the Western and Eastern markets. Western countries determined supply and demand, while Eastern countries acted as counterparties to the transaction. Thus, when the volumes of physical gold purchased by Great Britain or Switzerland increased, its price grew, and vice versa. As a result, gold moved from the West to the East and back synchronously with the price decreasing or increasing.

The second factor that has historically influenced the price is the relationship between the price of gold and the real yield on U.S. government bonds. When the real yield decreased, bonds lost their appeal, and investors moved into gold. Once the trend reversed and real yields began to rise, investors returned to bonds.

However, since the end of 2022, both patterns have failed. The U.S. ten-year bond yield rose to 4.33%, above the 2022 highs, beating a 15-year record. Despite expectations, this didn’t lower the price of gold, which instead rose from November 2022 to August 2023 by 16%, from $1,643 to $1,954 per ounce.

The correlation between gold transaction volumes and the gold price also stopped working. Since the third quarter of 2022, the UK and Switzerland have been Netto-exporters of gold, i.e. sellers. According to the historical paradigm, this should also have been a reason for the price of gold to fall. However, as we can see, this is not happening. Thus, the West has not significantly influenced the pricing of precious metals.

What affects gold in 2024?

Escalating geopolitical conflicts are causing gold to rise in value. Due to the geopolitical events of 2022, dollar assets have become more risky for many countries. Central banks in the Global South, Eastern Europe, and the Middle East have been actively pursuing a policy of building up the gold part of foreign exchange reserves since the end of 2022. According to a World Gold Council (WGC) report, central banks bought 800 tonnes of gold in the first nine months of 2023, up 14% year-on-year. Excess demand from central banks has boosted the value of gold by 10 per cent in 2023.

‘It is the central banks’ purchases of gold that will act as the main driver of growth in 2024′, said Kar Yong Ang, the Octa financial market analyst. ‘If the trend continues and the level of gold reserves moves towards an average of 40% of the gold composition in reserves, that would mean an additional $3.2 trillion in the asset—a 25% rise in 2025, which would correspond to a price of $2,500 an ounce’, he added.

Gold has also seen another rise since the beginning of the Palestinian-Israeli conflict: since October 2023, it has added more than 8%. Hence, we can conclude that any aggravation in geopolitics will have a positive impact on gold.

The stabilisation of inflation will continue to support gold quotes. In 2022, global inflation reached its highest levels in decades. However, it is also a fact that inflation passed its peak at the end of 2023. Most analysts believe inflationary pressures will continue to ease in 2024.

‘Traditionally, the gold price has been negatively correlated with the inflation rate. The lower the inflation rate, the lower the interest rates on government bonds. As a result, the relative attractiveness of non-interest-bearing assets such as gold increases’, said Kar Yong Ang.

Developing economies de-dollarisation. Investors see gold as an alternative means of building savings and protection against inflation and currency risk. Demand for gold is increasing because Brazil, Russia, India, and China (members of BRICKS) seek ways to improve their currency independence.

The main factors affecting gold’s price are inflation, rising demand from central banks, de-dollarisation of developing economies, microeconomic situation, and geopolitics. The combination of these factors will create conditions for the growth of gold price in 2024—in the first half of the year, the cost of the precious metal may exceed $2,200 per troy ounce. In the second half of the year, the upward trend in gold is likely to continue, and gold may show a price of $2,300 per ounce, so the average price in 2024 will be $2,170.

Hashtag: #Octa #gold

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

Octa

is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services already utilised by clients from 180 countries with more than 42 million trading accounts. Free educational webinars, articles, and analytical tools they provide help clients reach their investment goals.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

Octa has also won more than 70 awards since its foundation, including the ‘Best Educational Broker 2023’ award from Global Forex Awards and the ‘Best Global Broker Asia 2022’ award from International Business Magazine.

VinBrain and Global Fund continue joining forces to tackle Vietnam’s tuberculosis challenge through AI in 2024


HANOI, VIETNAM – Media OutReach Newswire – 29 February 2024 – VinBrain, a pioneering AI HealthTech company within Vingroup conglomerate, has officially signed a commercial agreement with Global Fund to transfer Artificial Intelligence (AI) technology for Tuberculosis (TB) screening and detection as part of Vietnam’s National Tuberculosis Prevention Campaign. VinBrain is the sole entity chosen for this agreement with Global Fund in 2024. DrAid™ for TB Screening, a solution developed from VinBrain’s innovative and visionary approach to applying advanced technology, aligns with the stringent criteria of the Fund, contributing to community health and progress.

The accuracy of DrAid™ for TB Screening is up to 95%, reducing the time for disease detection and lowering screening costs.
The accuracy of DrAid™ for TB Screening is up to 95%, reducing the time for disease detection and lowering screening costs.

The collaboration aims to transform TB detection using advanced AI technology, significantly reducing diagnosis time by analyzing X-ray images. This eliminates the need for extra TB bacterial PCR tests, cutting screening costs from US$50-60 to only US$1. Furthermore, the AI outputs its results in a file or QR code format, reducing environmental impact. Under this agreement, VinBrain plans to transfer the technology of 32 AI licenses, enables the screening of 1 million suspected TB cases starting in April 2024. This marks the largest scale initiative of its kind to date.

Notably, this initiative goes beyond existing efforts by enabling outreach to remote areas, overcoming geographical limitations in Vietnam or developing countries. The low cost allows to maximize budget utilization, ensuring that more individuals benefit from this program through advanced technology. This approach effectively addresses geographical barriers, making healthcare accessible to underserved regions by the ability to quickly identify abnormal TB regions in chest X-ray images within 15-20 seconds. Ultimately, this agreement contributes to the elimination of TB in Vietnam by 2035.

DrAid™ for TB Screening, with a sensitivity and specificity of up to 96%, has long been a reliable diagnostic tool for doctors in Vietnam. Dr. Pham Ngoc Thanh, Head of the Medical Imaging Department at Hai Phong Lung Hospital, said: “The accuracy of reading X-ray images from DrAid™ for TB Screening is up to 95% in about 1,000 suspected TB patients.”

“VinBrain, as one of the few AI HealthTech companies worldwide, has chosen to address TB because it aligns seamlessly with our company’s mission since its inception”, stated Steven Truong, Founder and CEO of VinBrain.

Developed entirely by Vietnamese experts using a dataset of 4 million machine learning samples, DrAid™ for TB Screening has been validated and successfully deployed in many hospitals nationwide by reputable independent organizations worldwide such as the Foundation for Innovative New Diagnostics and Friends for International Tuberculosis Relief (FIT).

This campaign represents a significant contribution to public health, particularly in Vietnam, which remains a high-burden country for TB and drug-resistant TB. With over 12,000-15,000 annual deaths and hundreds of thousands infected, primarily within economically disadvantaged communities, the need for effective solutions is paramount.

In line with VinBrain’s mission and collaborative spirit, DrAid™ AI-based TB screening solution is preparing to launch a version dedicated for children with a sensitivity of 90.76% and specificity of 89.45%. Hence, DrAid™ AI for TB Screening surpasses the World Health Organization’s (WHO) recommendation for AI-based TB screening, which specifies a sensitivity of ≥ 90% and specificity of ≥ 70%. This demonstrates that DrAid™ AI exceeds the WHO criteria by more than 20 points in specificity. This groundbreaking and pioneering technology supports comprehensive TB diagnosis for children aged 3 to 15 – a group often overlooked in conventional testing methods and prone to misinterpretation of chest X-rays. This advancement marks a significant milestone in the responsible application of AI for societal good, contributing to the advancement of Environmental, Social, and Governance (ESG) values on a global scale.

Hashtag: #VinBrain

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

About DrAid™

DrAid™, developed by VinBrain, is an innovative Artificial Intelligence platform that comprehensively supports doctors and healthcare administrators. It is currently deployed across 182 hospitals, aiding over 2,000 doctors and benefitting more than 2 million patients in Vietnam, the United States, and beyond. Within this ecosystem, the DrAid™ for TB Screening is designed for the diagnosis and screening of Tuberculosis (TB). Leveraging advanced AI algorithms, DrAid™ can accurately analyze chest X-ray images to detect TB-related abnormalities with an impressive 90% sensitivity and up to 96% specificity. For further details, please visit

First Phosphate and Craler Sign MOU for the Development of Global Logistical Competencies to and from the Saguenay-Lac-St-Jean region of Quebec, Canada


Saguenay, Quebec – Newsfile Corp. – February 28, 2024 – First Phosphate Corp. (CSE PHOS) (OTC: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company”) is pleased to announce that it has signed a memorandum of understanding (“MOU”) with Craler Inc. (“Craler”), a division of TFI International Inc. (NYSE: TFII) (TSX: TFII) (“TFI”) for the development of the Company’s global freight logistical competencies to and from the Saguenay-Lac-St-Jean region of Quebec, Canada.

“This agreement is important because Craler, together with is parent TFI, have the ability to determine the best practices for the Company’s entire logistical footprint for its products and supplies across North America,” says CEO John Passalacqua. “Smart logistics can lead to cost-savings, reduction of carbon footprint and satisfied clients in the automobile and stationary energy storage industries across North America.”

The terms of the agreement include:

  • First Phosphate and Craler are to work towards determining the local logistical footprint for the movement of First Phosphate products and supplies to and from the Company’s mining properties in Saguenay, Quebec to the Port of Saguenay, Quebec.
  • First Phosphate and Craler are to work towards determining the North American logistical footprint for the movement of the Company’s products and supplies to and from Saguenay, Quebec and the rest of North America and the world.
  • First Phosphate and Craler are to work towards determining options for encouraging the establishment of a local production source of lithium carbonate / hydroxide at the Port of Saguenay, Quebec as well as the logistical options for the importation of lithium carbonate / hydroxide from other parts of North America and the world to the Port of Saguenay, Quebec.
  • First Phosphate and Craler are to work towards the best electrification procedures to implement at the Company’s prospective mine site and between the mine site and Port of Saguenay, North America and the world. The companies are to study the various logistical options available during the various stages of project development so as to minimize carbon footprint of the Company’s overall operations.
  • Special emphasis is to be placed on logistics that connect First Phosphate product and supply requirements to and from the automobile industry heartland of North America in the Windsor-Detroit corridor as well as to other regions of the US and Mexico.
  • Craler is to join the First Phosphate project team and begin to ideate the best overall project-based logistics necessary to integrate the Company’s product and supply flows across North America and the world.
  • First Phosphate and Craler are to work together to make the economic, social and job creation benefits of their arrangement known to the Quebec, Canadian and US governments.


Securities Issuances

The Company has settled $75,000 of debt for accrued amounts owing to an arm’s length service provider through the issuance of 250,000 Common Shares at the deemed price of $0.30 per Common Share. The Company has also granted 440,400 restricted share units of the Company (“RSUs”) to two eligible consultants of the Company. The RSUs vest in 4 tranches (25% on each of May 31, 2024; August 31, 2024; November 30, 2024; and February 28, 2025). The RSUs are subject to the terms of the Company’s Omnibus Equity Incentive Plan as approved by disinterested shareholders at the Company’s annual and special meeting of shareholders held on August 25, 2023. All securities issued are subject to a hold period of four months plus one day from the date of issuance.

About First Phosphate Corp.

First Phosphate 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 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 holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high purity phosphate materially devoid of high concentrations of harmful elements.

About Craler Inc.

Founded in 1997, Craler has become one of the largest private Canadian companies specializing in freight management. Craler serves clients working in various types of industries to meet their specific freight transport needs across North America, including Canada, the United States and Mexico. Craler was acquired in 2019 by TFI International Inc. (NYSE: TFII) (TSX: TFII) and now operates as a division of this leading North American transportation and logistics company.

For additional information, please contact:

Bennett Kurtz, CFO
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

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 benefits of logistics for cost-savings, reduction of carbon footprint and satisfied clients, the creation of a local production source of lithium carbonate or lithium hydroxide at the Port of Saguenay, Quebec and the importation of lithium carbonate or lithium hydroxide, the integration of Company product and supply into product and supply flows, and the economic, social and job creation benefits of the Company and Craler operations.

These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, including, without limitation, expectations of the Company’s long term business outcomes given its short operating history; expectations regarding revenue, expenses and operations; the Company having sufficient working capital and ability to secure additional funding necessary for the exploration of the Company’s property interests; expectations regarding the potential mineralization, geological merit and economic feasibility of the Company’s projects; expectations regarding drill programs and the potential impacts successful drill programs could have on the life of the mine and the Company; mineral exploration and exploration program cost estimates; expectations regarding any environmental issues that may affect planned or future exploration programs and the potential impact of complying with existing and proposed environmental laws and regulations; receipt and timing of exploration and exploitation permits and other third-party approvals; government regulation of mineral exploration and development operations; expectations regarding any social or local community issues that may affect planned or future exploration and development programs; expectations surrounding global economic trends and technological advancements; and key personnel continuing their employment with the Company.

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. Important factors that could cause actual results to differ materially from the Company’s expectations include: limited operating history; high risk of business failure; no profits or significant revenues; limited resources; negative cash flow from operations and dependence on third-party financing; the uncertainty of additional funding; no dividends; risks related to possible fluctuations in revenues and results; insurance and uninsured risks; litigation; reliance on management and key personnel; conflicts of interest; access to supplies and materials; dangers of mineral exploration and related liability and damages; risks relating to health and safety; government regulation and legal uncertainties; the company’s exploration and development properties may not be successful and are highly speculative in nature; dependence on outside parties; title to some of the Company’s mineral properties may be challenged or defective; Aboriginal title and land claims; obtaining and renewing licenses and permits; environmental and other regulatory risks may adversely affect the company; risks relating to climate change; risks related to infrastructure; land reclamation requirements may be burdensome; current global financial conditions; fluctuation in commodity prices; dilution; future sales by existing shareholders could cause the Company’s share price to fall; fluctuation and volatility in stock exchange prices; and risks related to market demands. 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 securities authorities, including without limitation the “Risk Factors” section of the Company’s Annual Information Form dated November 29, 2023 which is 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.

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

About First Phosphate Corp.

Hong Kong Immigration Limited is now launching a new service to align with the Capital Investment Entrant Scheme introduced by the Hong Kong government.


HONG KONG SAR – Media OutReach Newswire – 28 February 2024 – On February, 2024 The latest policy address, the Hong Kong government introduced the CIES. Eligible investors who invest HKD 30 million or more in assets such as stocks, funds, and bonds (excluding real estate) in Hong Kong can apply for entry through this scheme. The Hong Kong Immigration Consultant Limited is launching a new service in response to the Capital Investment Entrant Scheme (CIES) introduced by the Hong Kong government.

Image Courtesy: Hong Kong Immigration Limited
Image Courtesy: Hong Kong Immigration Limited

Since the Financial Secretary, Mr. Paul Chan, announced the launch of the new version of the “Capital Investment Entrant Scheme” in the government’s “Budget” in February 2023, Hong Kong Immigration Limited has received more than 1,600 inquiries about the scheme by the end of December, showing that the public is very concerned about the Capital Investment Entrant Scheme (CIES). Mr. Wu, the person in charge of Hong Kong Immigration Limited, said: “The government has not yet publicly detailed the content of the plan and eligibility requirements, but summarizing the experience of successful investment immigration applications in the past, the completeness and accuracy of asset proof are the keys to successful approval.”

Hong Kong Immigration Limited is committed to assisting and providing clear guidance on CIES for all existing and potential customers. It has launched a comprehensive eligibility screening process to ensure that customers can smoothly apply after the details of CIES are officially announced.

Hong Kong Immigration Limited, as a comprehensive immigration service consultant, continues to deepen its after-sales service, the services include study consultation, real estate investment guidance, and visa renewal services, creating a comprehensive and thoughtful support network for customers. The company’s follow-up services are not limited to the completion of immigration procedures, but also provide comprehensive support and convenience for customers’ life in Hong Kong through cooperation with leading companies in various industries.

Education is an important factor in many families’ immigration decisions. The study consultation team of Hong Kong Immigration Limited provides personalized school selection suggestions. Services include school screening, application procedure guidance, interview preparation, and scholarship application; in terms of real estate investment, the company uses its extensive industry network to provide customers with market trend analysis, property selection suggestions, and investment return assessment. For visa renewal services, Hong Kong Immigration Limited provides procedural help, interpretation of the latest policies and strategic suggestions, as well as complete case handling to ensure that customers can successfully complete the visa renewal within the validity period.
Hashtag: #HongKongImmigrationLimited

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

Hong Kong Immigration Limited

Hong Kong Immigration Limited is a professional immigration service organization that provides efficient and reliable immigration application processes, along with comprehensive post-application support to clients. With its wealth of experience in immigration applications and in-depth knowledge of government policies, the company ensures high-quality services for individuals seeking to migrate.