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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.

NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR THE UNITED STATES

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

Microland Recognized as a Leader in ISG Providers Lens Study 2024 for Intelligent Automation Services

BENGALURU, India, Jan. 17, 2025 /PRNewswire/ — Microland, a leading Global Digital Transformation Company, has been recognized as a Leader in the US region in the Artificial Intelligence for IT Operations (AIOps) quadrant of the ISG Providers Lens Study 2024 for Intelligent Automation Services.

Microland Recognized as a Leader in ISG Providers Lens Study 2024 for Intelligent Automation Services
Microland Recognized as a Leader in ISG Providers Lens Study 2024 for Intelligent Automation Services

The ISG Providers Lens Study 2024 highlights the comprehensive automation strategies offered by Intelligent Automation Service Providers, integrating evolving technological capabilities with the potential of scaling across entire organizations. The study emphasizes the importance of customer-centric design, purpose-built automation, and business experience in building distinguished performance metrics.

Microland’s AIOps platform, Intelligeni delivers AI-driven automation for IT operations and real-time analytics, enhancing hybrid IT management, streamlining incident resolution, and improving scalability. The company’s innovative Automated Ops model based on the Intelligeni platform, builds resilient IT environments that can adapt to changes without disruption. Intelligeni provides full-stack integration with a diverse range of monitoring sources through its comprehensive observability platform, offering accurate health assessments and holistic visibility into IT operations.

We are honored to be recognized as a Leader in the ISG Providers Lens Study 2024 for Intelligent Automation Services,” said Satish Sukumar, Senior Vice President & Global Head of Platforms at Microland. “This recognition is a testament to our commitment to delivering unfaltering experiences and driving business growth for our clients through our innovative AI-powered solutions that drive IT resilience and efficiency.

“This recognition underscores our relentless focus on empowering enterprises with intelligent, AI-driven solutions that not only optimize IT operations but also lay the foundation for sustainable and scalable digital transformation. It’s a proud moment for us as we continue to enable our clients to navigate complexity and achieve resilience with confidence,” said Sam Mathew, President, Microland.

“Microland provides a complete suite of platforms and guidance for clients implementing AIOps, providing end-to-end insights into their IT infrastructure,” said Ashwin Gaidhani, the lead author of this research.

The ISG Providers Lens Study 2024 serves as an important decision-making basis for business and IT decision-makers, offering transparency on the strengths and weaknesses of relevant providers, differentiated positioning by segments, and focus on different markets, including the U.S. and Europe. The study also provides insights into the high demand for multimodal talent and the importance of responsible automation practices.

For more information about Microland’s AIOps solutions and the ISG Providers Lens Study 2024, please visit https://www.microland.com/analyst-insights/isg-provider-lens-study-intelligent-automation-services-2024.

About Microland

Microland is a pioneering IT Infrastructure services and consulting company headquartered in Bengaluru, India, with a proven track record of delivering tangible business outcomes for 35 years. Today, as enterprises recognize that networks underpin the functionality and efficiency of modern digital systems and support innovation, we provide next-generation technologies such as AI, automated operations, and platform-driven solutions – which drive operational excellence, agility, and productivity for organizations worldwide. Our team of over 4,600 experts delivers services in over 100 countries across Asia, Australia, Europe, the Middle East, and North America, offering cutting-edge solutions in networks, cloud, data centers, cybersecurity, services management, applications, and automation. Recognized by leading industry analysts for our innovative strategies, Microland is committed to strong governance, environmental sustainability, and fostering an inclusive workplace where diverse talent thrives. When businesses work with Microland, they connect with the best talent, technologies, and solutions to create unparalleled value.

For more information, visit www.microland.com

Media contact: 
sobia.sahar@microland.com

Leader in the Artificial Intelligence for IT Operations (AIOps) Quadrant
Leader in the Artificial Intelligence for IT Operations (AIOps) Quadrant

 

Golfin to Showcase Web3 Innovation at ‘Web3 Hub Davos 2025’

TOKYO, Jan. 17, 2025 /PRNewswire/ — GOLFIN, the pioneering Web3-based Golf2Earn platform, has been announced as the official sponsor of Web3 Hub Davos 2025. The event, taking place from January 20–23, 2025, in Davos, Switzerland, runs alongside the World Economic Forum’s Annual Meeting and will highlight the latest advancements in Web3, blockchain, and decentralized technologies across industries. Golfin is set to showcase how Web3 technology is reshaping the future of golf.

Golfin’s founder Ken Komatsu and strategic advisor John Kojiro Moriwaka will present “How the Web3 Golf Game ‘Golfin’ Will Shape the Future of the Web3 Movement” on January 22, 2025
Golfin’s founder Ken Komatsu and strategic advisor John Kojiro Moriwaka will present “How the Web3 Golf Game ‘Golfin’ Will Shape the Future of the Web3 Movement” on January 22, 2025

Golfin’s Key Highlights at Web3 Hub Davos 2025:

  • Exclusive Presentation: Golfin’s founder Ken Komatsu and strategic advisor John Kojiro Moriwaka will present “How the Web3 Golf Game ‘Golfin’ Will Shape the Future of the Web3 Movement” on January 22, 2025, from 17:53 to 18:03 local time.
  • Innovative Technology Integration: Golfin’s combination of NFTs and GPS technology allows players to create a seamless link between real-world and digital golf experiences.
  • Industry Impact: Golfin aims to modernize the golf industry while addressing global economic disparities by building ecosystem that merges sports, entertainment, and blockchain technology
  • Global Partnerships: Golfin has formed strategic partnerships with leading organizations, including the ZOZO Championship and Seibu Group, to expand its reach and integrate real-world golf experiences with digital rewards.

Golfin’s Approach to Web3 Golf:

Enhancing Golf Through Innovation: Golfin revolutionizes the golf experience by allowing players to earn points through real-world gameplay on verified golf courses. These points can be used to enhance their digital gameplay, creating a seamless connection between physical activity and in-game progression. Additionally, players can collect exclusive in-game items and trade NFTs, adding value and depth to both their golfing and gaming experiences.

Vision for the Future: 

Golfin is committed to transforming the traditional golf industry by integrating Web3 technology to create a more immersive and accessible golfing experience. By fostering strategic partnerships and engaging global decision-makers, Golfin plans to expand its ecosystem and drive innovation in both the sports and blockchain sectors.

About Golfin GPS: The Golfin GPS app connects real golf with digital gameplay. Players earn points while playing at certified golf courses.

For More Information: golfin.io & web3hubdavos.com .

Join the Movement: Stay updated and join Golfin’s Web3 revolution by visiting the official website or following  on Twitter (JP), Twitter (Global), DiscordInstagram, & Linktree.

Sarawak Launches AI.LEGACY, World’s First Intelligent Impact Management System for Business Events Sector

KUCHING, Malaysia, Jan. 17, 2025 /PRNewswire/ — Sarawak became the first in the world to launch AI.LEGACY, an intelligent impact management system specifically designed to monitor, measure, and report the legacies of business events hosted in Sarawak.

The Hon. Dato Sri Abdul Karim Rahman Hamzah, representing the Premier of Sarawak, The Right Honourable Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg, launched the world's first business event legacy management system.
The Hon. Dato Sri Abdul Karim Rahman Hamzah, representing the Premier of Sarawak, The Right Honourable Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg, launched the world’s first business event legacy management system.

AI.LEGACY Intelligent Impact Management System offers a revolutionary approach to business event legacy management by leveraging cutting-edge artificial intelligence. Its four key objectives are to:

1.      Track the real-time impacts of business events

2.      Enable event planners to make more informed decisions by leveraging data insights

3.      Collect, analyse and manage event data via artificial intelligence

4.      Position Sarawak as the legacy capital of business events in Malaysia and Borneo

“This is a groundbreaking moment for Sarawak, having spent several years studying business event legacies, investing in strategic approaches, and learning through trial and error to achieve this milestone,” proudly said The Hon. Dato Sri Abdul Karim Rahman Hamzah, Minister for Tourism, Creative Industry and Performing Arts Sarawak. “We are incredibly proud of AI.LEGACY because it is 100% locally developed by BESarawak and Universiti Malaysia Sarawak (UNIMAS). Sarawak can deliver its brand promise of driving impact together with event planners. They now have greater power to analyse their contributions toward Sarawak’s Post COVID-19 Development Strategy 2030 and UN Sustainable Development Goals.”

“BESarawak is very pleased to be ahead of schedule in achieving the Impact Master Action Plan 2023-2025. This now ensures that the business events sector in Sarawak continues to thrive while delivering measurable benefits to society,” said Dato Sri Abang Haji Abdul Karim bin Tun Datuk Abang Haji Openg, Chairman of BESarawak.

Amelia Roziman, CEO of BESarawak, highlighted a significant global challenge facing the business events sector: the measurement and reporting of non-economic outcomes and legacies.

“The sector is heavily focused on quantitative data that other significant impacts have been overlooked and therefore, unreported. We need to emphasise the impact of events on social, environmental, and cultural aspects too—a shift that AI.LEGACY is designed to support,” said Roziman. “With the power of automation, AI.LEGACY can produce important reports that validate the planner’s work and help increase their chances of obtaining additional support such as funds and endorsements. We are simplifying processes to make it easier to improve long-term strategic planning through real-time insights. AI.LEGACY is the way forward to make a difference.”

Prof. Dr. Lo May Chiun, AI.LEGACY Project Leader and Senior Director of the Research, Innovation and Enterprise Centre at UNIMAS, expressed her enthusiasm about the groundbreaking potential of AI.LEGACY. “My team and I are confident that AI.LEGACY can help not only the business events sector but also other industries unlock their full potential. In today’s world, where economic, social, and environmental factors are key, it’s essential to have tools that enable every industry to understand both their economic and non-economic benefits,” she stated.

AI.LEGACY Intelligent Impact Management System also serves as a one-stop centre for users to conveniently book legacy clinic sessions and submit various applications, including the Borneo Inspires Legacy Awards 2025. AI.LEGACY will be ready for use starting early Q3/2025.

ABOUT BUSINESS EVENTS SARAWAK

BESarawak was established in 2006 by the Sarawak Government as a non-profit convention and exhibition bureau to promote Sarawak for national and international business events. Support and services include, but are not limited to, developing and bidding for business events of interest, funding assistance and crafting itineraries. BESarawak is also known as ‘Biro Konvensyen Sarawak’ (Bahasa Malaysia) or 砂拉越会议局 (Mandarin). www.businesseventssarawak.com

ABOUT BUSINESS EVENTS’ LEGACY IMPACT

‘Legacy impact’ refers to the long-term, positive benefits that business events bring to sectors, communities, trade and investment, the environment, and governance. Sarawak is the first in Malaysia and Borneo to focus on legacy impact as a sustainable method of measuring the value of business events. Business events are listed as one of six sectors in the Sarawak Government’s Post COVID-19 Development Strategy to achieve economic prosperity, social inclusion, and environmental sustainability by 2030.

Liene PixCut S1 Now Available on Amazon: Redefining Personalized Printing

LAS VEGAS, Jan. 17, 2025 /PRNewswire/ — Liene, a global leader in innovative smart printing solutions, proudly announces the official launch of its latest breakthrough product—the PixCut S1 smart photo and sticker printer. Now available on Amazon, the PixCut S1 offers a limited-time launch discount and global shipping, bringing revolutionary creative printing to homes around the world.

Combining high-resolution photo printing with precision cutting in one compact device, the PixCut S1 redefines the possibilities of DIY crafting, personalized gifting, and home decorations. The device made its debut at CES 2025 in Las Vegas, where it received widespread acclaim for its user-friendly design and innovative features, setting a new benchmark for smart printing technology.

Liene on Amazon
Liene on Amazon

Revolutionary Features of PixCut S1

  • Seamless Printing & Cutting: Combines high-quality photo printing with precision cutting for a flawless and streamlined creative process.
  • AI-Powered Precision: Automatically analyzes and extracts images, ensuring accurate cutting with intricate designs.
  • High-Resolution Printing: Produces vibrant, professional-grade photo prints for home and personal use.
  • Wide Connectivity: Compatible with multiple devices, ensuring easy operation and convenience.
  • Creative Asset Library: Access over 8,000 design elements, including stickers, templates, and artistic assets, to unlock endless possibilities.
  • User-Centric Design: Intuitive one-click intelligent cutting simplifies DIY projects, enabling users to easily create personalized stickers, album decorations, gift tags, and more.

Whether you’re crafting unique holiday gifts, designing stickers for your kids, or personalizing albums and decorations, the PixCut S1 simplifies every step of the creative process, empowering users to unleash their creativity effortlessly.

Empowering Creativity at Home

“At Liene, we believe in the power of creativity and personalization,” said Sean Cui, The CEO at Liene. “The PixCut S1 is not just a device; it’s a creative partner for families, DIY enthusiasts, and anyone who values self-expression. By integrating cutting-edge printing technologies with intuitive functionality, we aim to bring professional-grade tools into everyday homes and help users create meaningful memories with ease.”

Liene is committed to enhancing the PixCut S1 experience through continuous innovation. Additional accessories and software updates are planned for the future, further empowering users to explore new levels of artistic creation.

Launch Discounts and Availability

The PixCut S1 is now available on Amazon.com, with special launch discounts for a limited time. Shipping is available worldwide. To purchase the PixCut S1 and explore the possibilities of creative printing, please visit https://bit.ly/40wjeTr

For more information about Liene and its products, visit www.liene-life.com or follow us on Instagram at @lienephotoprinter.

Nomination period for the Broermann Medical Innovation Award started

  • Prize money of one million euros higher than the prize money for the Nobel Prize for Medicine
  • Award honors researchers worldwide who have done pioneering work in medicine, biotechnology, or related fields

GIEßEN, GERMANY – Newsaktuell – 17 January 2025 – The nomination period for the Broermann Medical Innovation Award has started. The prize, which will be awarded for the first time this year, is aimed at scientists worldwide who have carried out pioneering work in medicine, biotechnology, or related fields with their research.

The nomination portal (www.broermann-award.org/nomination/) is open until March 1, 2025. At one million euros, the prize is more valuable than the Nobel Prize for Medicine, making it one of the most highly endowed awards for medical research worldwide.

The international Broermann Medical Innovation Award recognizes research results that demonstrate a high level of innovation for clinical application and thus have the potential to improve the lives and health of millions of people worldwide. The prize is aimed at scientists whose research has been pioneering in the fields of medicine, biotechnology, or related sciences.

The Broermann Medical Innovation Award was established in 2024 to honor the vision and commitment of Dr. Bernard große Broermann, the founder of the Asklepios Kliniken. The Broermann gemeinnützige GmbH sponsors the award, and the University Hospital Giessen and Marburg (UKGM) manages the organization. “With this award, we want to honor groundbreaking medical discoveries and highlight those whose research brings real improvements in the prevention or treatment of diseases,” says Prof. Werner Seeger, Chairman of the Award Committee. For the Medical Director of the UKGM, Prof. Friedrich Grimminger, the unique prize reflects the clear conviction of the company founder: “Scientific excellence in medicine is always an international team effort, but without the genius of individual researchers, networks are limited in their impact. These key players and drivers of medical innovation should be promoted and recognized worldwide.”

Nomination process and deadlines

Nominations for the Broermann Medical Innovation Award can be submitted until March 1, 2025. The incumbent Hessian Minister President will present the award in December 2025 at the Hessian State Chancellery in Wiesbaden.

Further information on the award, the nomination criteria, and the selection process can be found at www.broermann-award.org.

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

SHEIN Establishes SHEIN Foundation and Awards Over US$5 Million to Address Global Textile Waste and Empower Communities

SINGAPORE, Jan. 17, 2025 /PRNewswire/ — SHEIN, a global online fashion and lifestyle retailer, has announced the establishment of the SHEIN Foundation, and its commitment of €5 million (US$5.30 million) to the Africa Collect Textiles (ACT) Foundation, the charitable arm of Africa Collect Textiles (ACT), a social enterprise that has developed a used textiles collection and recycling pilot programme in Kenya.

The SHEIN Foundation is a non-profit organization that aims to foster more inclusive and sustainable communities in places where SHEIN operates and will be the philanthropic arm of the SHEIN Group. With the establishment of the SHEIN Foundation, SHEIN will seek to consolidate its previous philanthropic commitments under the foundation, where appropriate, as aligned with the foundation’s mission.

Over the past few years, SHEIN’s philanthropic commitments have supported causes and organizations that address social and environmental issues. This includes social impact donations under the SHEIN Cares initiative that focuses on promoting women’s empowerment and gender equality, supporting the holistic development of children, and alleviating poverty, as well as grants under its Extended Producer Responsibility (EPR) Fund, to tackle global textile waste and further the development of a more circular fashion ecosystem, particularly in communities in the Global South impacted by the issue. Between 2021 and 2024, SHEIN disbursed over US$26 million towards social and environmental impact initiatives under these two commitments. Highlights of SHEIN’s previous grants and donations can be found in the Appendix section.

Donald Tang, SHEIN’s Executive Chairman said: “Empowering and giving back to the communities we reach has always been core to our operating philosophy. Establishing the SHEIN Foundation, and thereby consolidating our charitable efforts under a formal philanthropic structure, brings greater accountability and transparency to our donations. This also strengthens our ability to direct our charitable giving in a more impactful and sustained manner to better support causes and organizations that align with our values.”

SHEIN Foundation’s Priorities
The SHEIN Foundation will work to build more inclusive communities and sustainable ecosystems, focusing its support on organizations aligned with its charitable purposes which include, in part, the following missions:

  1. Improving Lives in Communities
    Focusing on women, young people and the underserved, to overcome systemic challenges, uplift communities and create more equitable opportunities, for a more inclusive future where everyone can reach their full potential.
  2. Protecting Biodiversity
    Addressing the challenges of biodiversity and habitat loss arising from climate change by protecting, restoring, and promoting the sustainable use of terrestrial and marine ecosystems.
  3. Advancing Sustainable Change
    Investing in research and supporting the development and implementation of new innovations and strategies in environmental and social sustainability, to catalyze scalable solutions that aim to accelerate the transition to a more circular and sustainable fashion industry.

Africa Collect Textiles Foundation

The funds committed to the ACT Foundation from the SHEIN Foundation will be put towards activities which promote textile donation and post-consumer textile recycling in Kenya and the broader African region, which includes:

  • Installation of convenient and accessible network of drop-off points for members of the public to donate their used clothing.
  • Creation of new jobs such as collectors, sorters, and artisans who will upcycle textile waste into new products, with a focus on hiring youth and women from vulnerable communities.
  • Building of recycling infrastructure to process larger volumes of textile waste.
  • Promotion of online and offline outreach programs for communities, such as upcycling workshops, lectures, and neighbourhood collection drives.

Elmar Stroomer, Director of the ACT Foundation, said: “This project will contribute immensely to our mission to reduce textile waste and close the loop on a more circular fashion ecosystem. Through this project, we are not only protecting our planet but also creating jobs that will transform lives and provide opportunities to those in need. This journey will inspire hope for a more sustainable and equitable future for all.”

The ACT Foundation grant is consistent with the objective of SHEIN’s EPR Fund to support waste management efforts in communities impacted by global textile waste and will now be managed by the SHEIN Foundation. The EPR Fund had previously provided grants to The Or Foundation and the Untours Foundation, which supported KaTik, a Cambodian initiative that collaborates with social enterprises to upcycle textile waste.

Appendix 

Highlights of Past Grants and Donations by SHEIN

SHEIN has partnered with various organizations to support important causes and deliver positive change. Examples of grants and commitments made by SHEIN include the following:

  • In 2022, SHEIN launched the EPR Fund, and has since made grants to the Or Foundation and the UnTours Foundation.
  • In 2023, SHEIN pledged a total of S$8.6 million to empower communities and advance opportunities for education in Singapore and beyond, with four Memoranda of Understanding signed between SHEIN and four educational institutions and non-profit organizations.
  • In 2024, SHEIN donated US$430,000 to six local Dress for Success (DFS) affiliates, across the US, UK, Italy and Singapore. DFS is a not-for-profit organization that empowers women to achieve economic independence by providing professional clothing and styling, interview coaching and ongoing support once they rejoin the workplace.

BingX Unveils Separate Isolated Margin Mode to Enhance Futures Trading Flexibility

PANAMA CITY, Jan. 17, 2025 /PRNewswire/ — BingX, a leading global cryptocurrency exchange, has introduced the Separate Isolated Margin Mode, an exclusive feature designed to enhance traders’ flexibility and control in futures trading. This innovative mode is now available for both USDT-margined perpetual and standard futures trading, offering users the ability to open positions with margins calculated in USDT without the need to directly hold the underlying cryptocurrency.

BingX Unveils Separate Isolated Margin Mode to Enhance Futures Trading Flexibility
BingX Unveils Separate Isolated Margin Mode to Enhance Futures Trading Flexibility

The Separate Isolated Margin Mode offers a significant upgrade over the traditional isolated margin mode. Unlike traditional methods where margin is shared across positions, this new mode allows traders to allocate margin separately for each position, providing greater control and reducing the risk of liquidation. As a result, traders can open multiple long or short positions within the same trading pair, each with its own set of take-profit and stop-loss parameters. This feature ensures that the liquidation risk is confined to individual positions, meaning that if one position is liquidated, the remaining positions and their allocated margin are unaffected.

One of the key benefits of the Separate Isolated Margin Mode is its flexibility, which enables traders to manage multiple positions in the same direction even if previous positions in the same pair have not been closed. This opens up new opportunities for managing capital more efficiently and mitigating risk across multiple futures trades.

Vivien Lin, Chief Product Officer of BingX, commented: “We believe this feature will provide BingX users with unmatched control over their futures trading strategies. It is a step forward in giving our users the tools they need to trade confidently and effectively. Looking ahead, we are committed to further advancing the futures trading experience on BingX by continuous innovation.”

About BingX

Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.

For more information please visit: https://bingx.com/