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Ethiopian Prime Minister Visits TOYO Facility in Vietnam, Strengthening Strategic Collaboration in Renewable Energy

TOKYO, April 16, 2025 /PRNewswire/ — TOYO Co., Ltd (Nasdaq: TOYO) (OTC: TOYWF) (“TOYO” or the “Company”), a solar solution company, was honoured to host His Excellency Abiy Ahmed Ali, Prime Minister of Ethiopia, at its state-of-the-art solar cell production facility in Phu Tho Province on the morning of April 15, 2025. The Prime Minister was accompanied by a high-ranking ministerial delegation and Mr. Nguyen Manh Son, Vice Governor of Phu Tho Province. Representing TOYO’s parent company, Abalance Group, Mr. Lewis Cai, Executive Vice President, warmly welcomed the delegation.

During the visit, Prime Minister Abiy Ahmed toured TOYO’s cutting-edge intelligent solar cell production line and commended the company’s achievements in technological innovation and its extensive global footprint in the photovoltaic sector. The Prime Minister emphasized the critical role of renewable energy in Ethiopia’s energy transition and expressed strong support for accelerating the second-phase expansion of TOYO’s solar cell production facility in Ethiopia.

TOYO is currently expanding its Ethiopian facility in Hawassa from an existing 2 GW capacity to 4 GW. This expansion is poised to meet growing global demand for high-performance solar cells and aligns with Ethiopia’s commitment to sustainable energy development. The project is scheduled for completion by July 2025, with production expected to commence by August 2025.

Prime Minister Abiy Ahmed also extended an invitation to Abalance Group to deepen its involvement in Ethiopia’s renewable energy sector by participating in the development of photovoltaic power plants. This initiative aims to enhance strategic cooperation between Ethiopia and TOYO, foster large-scale adoption of clean energy technologies, and advance Ethiopia’s national green energy goals.

“TOYO remains dedicated to advancing clean energy solutions worldwide by delivering innovative solutions and establishing a robust supply chain that supports renewable energy adoption worldwide. Our partnership with Ethiopia underscores our commitment to sustainability and growth, leveraging advanced research, cutting-edge technology, and industrial expertise,” said Mr. Junsei Ryu, Chairman and CEO of the Company.

About TOYO Co., Ltd.

TOYO is a solar solutions company that is committed to becoming a full-service solar solutions provider in the global market, integrating the upstream production of wafers and silicon, midstream production of solar cells, downstream production of photovoltaic modules, and potentially other stages of the solar power supply chain. TOYO is well-positioned to produce high-quality solar cells at a competitive scale and cost.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include but are not limited to, statements regarding the expected growth of TOYO, the expected order delivery of TOYO products, TOYO’s construction plan for new facilities and anticipated commencement of production. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of TOYO’s management and are not predictions of actual performance.

These statements involve risks, uncertainties, and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by these forward-looking statements. Although TOYO believes that it has a reasonable basis for each forward-looking statement contained in this press release, TOYO caution you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there are risks and uncertainties described in the documents filed by TOYO from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.

TOYO cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to several risks and uncertainties, including, among others, the outcome of any potential litigation, government or regulatory proceedings, the sales performance of TOYO, and other risks and uncertainties, including but not limited to those included under the heading “Risk Factors” of the filings of TOYO with the SEC. There may be additional risks that TOYO does not presently know or that TOYO currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of TOYO as of the date of this press release. Subsequent events and developments may cause those views to change. However, while TOYO may update these forward-looking statements in the future, there is no current intention to do so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of TOYO as of any date subsequent to the date of this press release. Except as may be required by law, TOYO does not undertake any duty to update these forward-looking statements.

Contact Information:

For TOYO Co., Ltd.
IR@toyo-solar.com 

Crocker Coulson
Email: crocker.coulson@aummedia.org
Tel: (646) 652-7185

Daimon Robotics Product Line Offically Launched, Accelerating the Industrialization of Embodied Intelligence

SHENZHEN, China, April 16, 2025 /PRNewswire/ — Daimon Robotics officially launched the innovative product line on April 16, including the world’s first Multi-dimensional High-resolution High-frequency Vision-based Tactile Sensors DM-Tac W, the Multi-dimensional Tactile Sensing Dexterous Hand DM-Hand1, and Portable Wearable Teleoperation Data collection System,DM-EXton.

Daimon Robotics Product Line
Daimon Robotics Product Line

Daimon Robotics’ products seamlessly integrate the robot’s perception-operation-learning process, providing a disruptive, embodied intelligence one-stop solution, accelerating the industrialization of embodied intelligence.

Equip Robots with Tactile PerceptionDM-Tac W

As a multi-dimensional, high-resolution, high-frequency vision-based tactile sensor, it innovatively integrates a camera within the sensor. When an object contacts the sensor’s surface, it captures the deformation field in real time, using proprietary algorithms, in order to achieve stable and robust dense tactile perception.

Covered with 40,000 sensing units per square centimeter, DM-Tac W significantly surpasses the human hand baseline, which is 240 sensing units per square centimeter and is hundreds of times denser than the most advanced array-based tactile sensors currently available.

Based on its ultra-high-density sensing array, DM-Tac W can capture a variety of sensing information such as shape, texture, hardness, slippage, contact force, and tangential force during contact. This provides end-effectors like grippers with tactile capabilities close to human touch, enabling precise manipulation and adaptive interaction in complex scenarios, which reflects Daimon Robotics’ relentless pursuit of excellence in technology and product development.

DM-Hand1, Enhanced Robot Flexibility and Dexterity

The DM-Hand1 is a new type of end effector that mimics the structure of the human hand, offering abundant degrees of freedom. With a hybrid force-position control algorithm, it can precisely mimic human hand movements to perform accurate grasping actions.

DM-Hand1 is equipped with Daimon Robotics’ unique millimeter-level thickness vision-based tactile sensor. While ensuring high resolution, it reduces the sensor thickness from several centimeters to just a few millimeters, and can easily fit into spaces as small as the human fingertip. This significantly reduces the hand’s finger thickness, enhancing the robot’s flexibility and adaptability.

Owing to the rich multi-modal tactile perception capabilities, DM-Hand1 can accurately identify various object attributes, such as hardness, texture, distributed contact forces, as well as contact events. This allows the robot to perform advanced tasks, including adaptive gripping force control, handling of fragile components, and precision assembly of intricate parts.

Portable Wearable Teleoperation Data Collection Device, DM-EXton

DM-EXton is Daimon Robotics’ latest  teleoperation data collection system which is portable and wearable.  Designed specifically for robot remote control and data collection for robot learning, its performance is at the top level of the market.DM-Tac W, DM-Hand1, DM-EXton, and others integrate the core technologies of robot perception, manipulation, and learning, forming a complete product line for embodied artificial intelligence.

Daimon Robotics’ product line has been implemented on a small-scale development in embodied artificial intelligence, smart logistics, intelligent manufacturing, and laboratory automation. The product series are now available for global developers. In 2025, the equally impressive product series, including DM-Tac F, DM-Hand2, will be gradually released.

MediaGo Wins Gold for Native Advertising Platform/Network of the Year at 2025 US Native Advertising Awards

SAN FRANCISCO, April 16, 2025 /PRNewswire/ — MediaGo has been awarded the Gold prize for “Native Advertising Platform/Network of the Year” at the 2025 US Native Advertising Awards, recognizing its exceptional technology and innovation.

MediaGo Wins Gold for Native Advertising Platform/Network of the Year at 2025 US Native Advertising Awards
MediaGo Wins Gold for Native Advertising Platform/Network of the Year at 2025 US Native Advertising Awards

The Native Advertising Awards, presented by the Native Advertising Institute, celebrate the world’s most innovative and effective native advertising campaigns and recognize industry leaders across various categories, including organization, strategy, channel, and format. This year, the award has set up an US edition as part of the global Native Advertising Awards.

MediaGo, a leading performance-driven intelligent advertising platform on the open web, is revolutionizing advertising industry through deep learning, delivering tangible marketing value to global businesses. MediaGo’s five deep learning models, covering the full marketing funnel, enable intelligent prediction from initial attention to final conversion, optimizing advertiser performance at every stage.

This effective application of deep learning provides MediaGo with a significant advantage in native advertising, allowing it to better understand and predict behavior, seamlessly integrate ad content into the user’s experience, and significantly improve click-through rates, conversion rates, and user experiences. This Gold award is a strong testament to MediaGo’s technological capabilities and industry impact.

“We are honored to be recognized by the US Native Advertising Awards,” said Peter Jinfeng Pan, Head of MediaGo for the Americas. “This award affirms our team’s years of dedication to native advertising and motivates us to further invest in cutting-edge technologies like deep learning. We’re committed to enhancing our platform to provide global advertisers with smarter, more efficient native advertising solutions, empowering their success in the global market.”

Japan Go IPO Summit Announces Roster of Expert Speakers for Event June 5th in Tokyo

Kura Sushi Executive to Deliver Keynote Address on Elements of Success for Cross-Border Listings

TOKYO and NEW YORK, April 16, 2025 /PRNewswire/ — The Japan Go IPO Summit, co-hosted by Nasdaq and MarcumAsia, is proud to announce an exceptional lineup of speakers for its 2025 event, which will be held on June 5th at the Grand Hyatt Tokyo.

Keitaro Ishii, Director of Kura Sushi USA, Inc. (NASDAQ: KRUS), will headline the summit with a keynote fireside chat, sharing “The Secrets to Long-Term Success as a U.S. Public Company.” Kura Sushi’s journey from a Japan-based innovator to a thriving U.S.-listed brand provides a blueprint for Japanese companies looking to globalize and access U.S. capital markets.

Also joining the speaker roster is Coincheck Group (NASDAQ: CNCK), one of the most high-profile Japanese tech companies to successfully list in the U.S. via a SPAC merger. Keigo Takegahara, Senior Executive Director & CFO, and Noriko Takase, General Manager of the Corporate Planning Department, will offer an inside view of Coincheck’s journey to NASDAQ, lessons learned through the de-SPAC process, and how the company is building visibility and investor confidence post-listing. Mr. Junsei Ryu, Chairman and CEO of TOYO Co. Ltd. (NASDAQ: TOYO) and Abalance Corporation (TSE: 3856), will share the unique perspective of leading public companies listed on both the Nasdaq and the Tokyo Stock Exchange.

The full-day summit will unite senior executives, investors, and advisors to explore IPO readiness, cross-border strategies, and capital raising in the U.S. public markets. Speakers include leaders from firms that have taken Japanese companies public via traditional IPOs and SPACs and from institutions that support public companies post-listing.

“The interest among Japanese companies in pursuing U.S. listings is stronger than ever, driven by a new wave of leadership focused on global expansion and accessing the unparalleled resources of the U.S. capital markets,” stated Drew Bernstein, Co-Chair of MarcumAsia. “This summit is designed to provide actionable knowledge, drawn from the experiences of those who have had successful listings and the expertise of leading dealmakers and advisors.”

Featured Speakers and Panels

The Japan Go IPO Summit will feature a dynamic lineup of speakers, including:

  • Keitaro Ishii, Director, Kura Sushi (NASDAQ: KRUS) – Keynote Speaker & Fireside Chat: “The Secrets to Long-Term Success as a U.S. Public Company”
  • Keigo Takegahara, Senior Executive Director & CFO, Director of the Corporate Division, Coincheck Group (NASDAQ: CNCK) – SPACs: Advantages and Lessons Learned
  • Junsei Ryu, CEO of TOYO Co. Ltd. (NASDAQ: TOYO) and Abalance Corporation (TSE: 3856) – SPACs: Advantages and Lessons Learned
  • Chieko Murata, NASDAQ – State of the U.S. IPO Market, NASDAQ
  • Drew Bernstein, Co-Chair, MarcumAsia – Welcome and Introductory Remarks
  • Crocker Coulson, CEO, AUM Media – Elements of IPO Success: What Investors Expect & Tapping the Markets: Shelf Offerings, ATMs, and PIPEs
  • Jeff Acton, BDA – M&A as a Public Company
  • Tina Cheng, MarcumAsia – Preparing for the IPO: Legal, Accounting, and Audit
  • Inez Chew, DFIN – Developing a Following on Wall Street: IR, Research Coverage, and Trading
  • David Danovich, Sullivan & Worcester LLP – M&A as a Public Company
  • Doug Ellenoff, Partner, Ellenoff Grossman & Schole – SPACs: Advantages and Lessons Learned
  • Lisa Forcht, Hunter Taubman – Preparing for the IPO: Legal, Accounting, and Audit
  • Edric Yi Guo, Chief Executive Officer & Head of Investment Banking, Univest Securities, LLC – Tapping the Markets: Shelf Offerings, ATMs, and PIPEs
  • Alex Jin, Maxim Group, Developing a Following on Wall Street: IR, Research Coverage, and Trading
  • Sachiko Katori, Director Japan, AUM Media – Developing a Following on Wall Street: IR, Research Coverage, and Trading
  • Joshua Kaufman, DLA – Preparing for the IPO: Legal, Accounting, and Audit
  • Craig Linder, Anthony, Linder & Cacomanolis, PLLC – Preparing for the IPO: Legal, Accounting, and Audit
  • Yuya Orime – Chief Business Development Officer at GSR III Acquisition Corp (GSRT), Senior Vice President of SPAC Advisory Partners – SPACs: Advantages and Lessons Learned
  • Yoichi Morimoto, HiJoJo Partners Inc. – Elements of IPO Success: What Investors Expect
  • Mitch Nussbaum, Co-Chair, Loeb & Loeb – Tapping the Markets: Shelf Offerings, ATMs, and PIPEs
  • Jesse Pichel, Roth Capital Nasdaq, MarcumAsia, Elements of IPO Success: What Investors Expect
  • Neil Pinchuk, MarcumAsia – Preparing for the IPO: Legal, Accounting, and Audit
  • Bob Stephenson, Managing Director, Roth Capital – Tapping the Markets: Shelf Offerings, ATMs, and PIPEs
  • Noriko Takase, General Manager of Corporate Planning Department, Coincheck Group (NASDAQ: CNCK) – Developing a Following on Wall Street: IR, Research Coverage, and Trading
  • Jason Tang, MarcumAsia – M&A as a Public Company
  • Tony Tian, Kingswood – Elements of IPO Success: What Investors Expect
  • Ed Tsuker, Kingswood – M&A as a Public Company
  • Yingjie Weng, Managing Director, Chardan – SPACs: Advantages and Lessons Learned

The summit will cover essential topics such as:

  • State of the IPO Market
  • Elements of IPO Success: What Investors Expect
  • SPACs: Advantages and Lessons Learned
  • Preparing for the IPO: Legal, Accounting, and Audit
  • Developing a Following on Wall Street: IR, Research Coverage, and Trading
  • Tapping the Markets: Shelf Offerings, ATMs, and PIPEs
  • M&A as a Public Company

Co-Hosts

  • Nasdaq
  • MarcumAsia

Organizing Sponsor

  • AUM Media

Registration is now open for this invitation-only event. Attendance is free, but space is limited.
Register Here — Japan Go IPO Summit

For more information, please visit: https://www.aummedia.org

Press Contact:
Crocker Coulson

CEO, AUM Media
crocker.coulson@aummedia.org
(646) 652-7185 office

 

Hyundai Mobis Participates in Auto Shanghai 2025 Targeting $200 Million in Orders from China this Year

  • Hyundai Mobis will showcase 10 new technologies including infotainment systems tailored to Chinese customers at Auto Shanghai 2025, which begins on April 23rd.
  • The company has developed pre-commercial technologies for local customers at two technical centers in Shanghai and Yantai, and will use demo cars to demonstrate advanced technologies. 
  • The company is also strengthening promotional activities tailored to the Chinese market, leveraging local bases to revitalize business after the pandemic.

SEOUL, South Korea, April 16, 2025 /PRNewswire/ — Hyundai Mobis (KRX 012330) will showcase a range of new technologies tailored to Chinese customers at the upcoming Auto Shanghai 2025, which opens on March 23, the company announced on 16. Following its participation in the Beijing Motor Show last year, the company will set up a booth at the Auto Shanghai, one of China’s two major motor shows, to increase contact with customers and expand global orders.

Hyundai Mobis has recently increased its promotional activities in the Chinese market, targeting global customers including local automakers. With its participation in the Auto Shanghai, the company plans to more than double its efforts for product roadshows for targeted customers and strengthen local customer networking to achieve orders worth USD 200 million (KRW 286 billion) this year.

The company will have a 300-square-meter booth at the show, which will be held at the National Exhibition and Convention Center (NECC) in Shanghai, China. The company will operate the booth as a private space, exclusively for local automakers and global customers in China. This is because it believes that, with a large number of visitors expected to attend the show, an exclusive customer-centric marketing strategy is more effective than an exhibition strategy for promoting the brand.

Hyundai Mobis also aims to expand its sales contacts with rapidly growing local brands in China. According to global research organizations, Chinese brands are expected to account for one out of every three cars sold globally in 2030, making China is an attractive market for Hyundai Mobis to expect to expand its global orders.

At the exhibition, Hyundai Mobis will unveil eight of its pre-commercial products, along with new technologies developed by its Technical Centers of China. Currently, the company operates two Technical Centers of China in Shanghai and Yantai. The Shanghai Technical Center serves as the company’s R&D hub in China, where pre-commercial technologies such as next-generation platforms are developed along with component design for local automakers and global customers. The Yantai center is responsible for developing and commercializing new vehicle models targeted for the local market.

At the exhibition, Hyundai Mobis will unveil two new locally specialized technologies: an augmented reality head-up display (AR-HUD) developed by the Shanghai Technical Center and a sound demo car that integrates acoustic technology.

The AR-HUD display shows a 70-inch, high-resolution virtual image on the vehicle’s front windshield, providing various driving information. The display’s high brightness and contrast ratio ensure clear visibility, even in sunlight, and it remains highly visible even when the driver is wearing sunglasses.

The sound demo car, constructed based on the EV6 model, showcases a sound system developed with Hyundai Mobis’ own technology. The demo car is equipped with 47 speakers to reproduce realistic theater-level sound. It has also adopted the Active Road Noise Control (ARNC) technology to create a quiet interior environment.

“We are exploring new business opportunities for global customers in the Chinese market, where we have R&D, production bases, and logistics networks,” said Kim Deok Kwon, Senior Vice President and Chief of China Business, Hyundai Mobis. He added, “We will closely analyze the technologies preferred by local customers and enhance our competitiveness with customized new technologies that are one step ahead.”

About Hyundai Mobis

Hyundai Mobis is the global no. 6 automotive supplier, headquartered in Seoul, Korea. Hyundai Mobis has outstanding expertise in sensors, sensor fusion in ECUs and software development for safety control. The company’s products also include various components for electrification, brakes, chassis and suspension, steering, airbags, lighting, and automotive electronics. Hyundai Mobis operates its R&D headquarters in Korea, with four technology centers in the United States, Germany, China, and India. For more information, please visit the website at http://www.mobis.com.

Media Contact 
Choon Kee Hwang: ckhwang@mobis.com
Jihyun Han: jihyun.han@mobis.com

Hesai and Zeekr Mark Milestone in Strategic Partnership: Lidar-Equipped As Standard on Zeekr 007GT

SHANGHAI, April 16, 2025 /PRNewswire/ — Hesai Group (Nasdaq: HSAI), the global leader in lidar technology for automotive mobility and robotic applications, today announced that its advanced ATX lidar solution will be integrated as standard into the newly launched luxury shooting brake sedan, Zeekr 007GT. This marks a significant milestone in the strategic partnership between Hesai and Zeekr. In the future, additional Zeekr models will integrate this advanced lidar technology, solidifying Hesai’s brand’s position at the forefront of the intelligent driving industry.

The Hesai ATX that powers the Zeekr 007GT intelligent driving system, is a small, ultra-high-definition, long-range lidar leveraging Hesai’s fourth-generation proprietary architecture. Featuring an upgraded optical and mechanical design along with laser transmission and reception module, the ATX lidar combines a compact size with industry-leading performance.

“Our partnership with Zeekr marks another important milestone in our mission to drive the mass adoption of lidar technology for intelligent driving,” said David Li, CEO & Co-Founder of Hesai. “As the automotive industry continues to innovate, we are proud to equip Zeekr with our cutting-edge ATX lidar technology, enabling them to offer a safer and more reliable driving experience for consumers. As a leader in lidar technology, we are committed to working with industry leaders to shape the future of mobility.”

The 007GT comes equipped with NVIDIA DRIVE dual Orin-X chips, delivering up to 508 TOPS of computing power. It features a total of 31 high-performance perception sensors, including lidar as standard across all models. This sensor suite enhances detection accuracy in challenging scenarios such as extreme weather, sudden lighting changes, and irregular obstacles, enabling early identification of stationary vehicle accidents up to 100 meters ahead. The vehicle’s safety redundancy is among the strongest in its class.

Zeekr recognizes the importance of lidar as an essential safety technology. As of March 2025, Zeekr’s AEB function has intervened to mitigate collision risks more than 3.61 million times.

Hesai’s ATX has been widely favored by automakers, with 11 leading domestic and international OEMs already selecting it for dozens of models. Large-scale production and deliveries began in the first quarter of 2025. More collaborative projects are now steadily advancing toward mass production, and Hesai will continue to provide industry-leading lidar technology to support Zeekr’s advanced intelligent driving systems.

Heidrick & Struggles Announces Promotions of Partners Across Executive Search and Heidrick Consulting

The promotions span 10 cities across seven countries as the firm continues to focus on accelerating growth and transforming its business

CHICAGO, April 16, 2025 /PRNewswire/ — Heidrick & Struggles (Nasdaq: HSII), a leading provider of global leadership and talent solutions, today announced the promotions of 17 Partners, effective January 1, 2025, in its Executive Search and Heidrick Consulting businesses. These leaders are based in 10 cities in seven countries globally.

“Our success is built upon our ability to nurture and elevate great leaders. We could not be happier to promote this group of leaders who are deeply committed to our clients and the future of this firm,” said Heidrick & Struggles CEO Tom Monahan. “The scope and pace of change today is unlike anything we’ve seen before. As we continue to transform our business to both meet and exceed the moment, the leadership and expertise of these new Partners will be invaluable in driving client outcomes.”

The individuals promoted to Partner, including their Practice and city, are:

  • Suhas Anand, Heidrick Consulting (Dubai)
  • Eliza Clemens, Technology Officers (New York City)
  • Caitlin FitzGerald, Consumer Markets (New York City)
  • Jerry Gorss, Industrial (Boston)
  • Antoine Honoré, Heidrick Consulting (Dubai)
  • Suvi Kitchloo, Industrial (Dubai)
  • Francesa Michel, Global Technology & Services (Washington, DC)
  • Neha Mohunta, Heidrick Consulting (Dubai)
  • Adrian Nagy, Global Technology & Services (Copenhagen)
  • Francois-Xavier Ragot, Financial Services (Brussels)
  • James Raley, Financial Services (Dubai)
  • Rasmus Riisgaard, Financial Services (Copenhagen)
  • Tommy Snyder, Industrial (Chicago)
  • Matti Takala, Industrial (Helsinki)
  • Fabian Tan, Industrial (Singapore)
  • Haven Thompson, Global Technology & Services (New York City)
  • Luke Weaver, Financial Services (Toronto)

About Heidrick & Struggles
Heidrick & Struggles (Nasdaq: HSII) is the world’s foremost advisor on executive leadership, driving superior client performance through premier human capital leadership advisory services. For more than 70 years, we’ve delivered value for our clients by leveraging unrivaled expertise to help organizations discover and enable outstanding leaders and teams. Learn more at www.heidrick.com.

Media Contact
Bianca Wilson 
Global Director, Public Relations
Heidrick & Struggles
bwilson@heidrick.com

NOTICE OF PROPOSED SETTLEMENT AND SETTLEMENT APPROVAL HEARING

PROPOSED CLASS ACTION SETTLEMENT

DID YOU ACQUIRE COMMON SHARES OF TREVALI MINING CORPORATION IN THE PRIMARY MARKET AND/OR THE SECONDARY MARKET BETWEEN OCTOBER 9, 2020 AND AUGUST 15, 2022 INCLUSIVE, AND HOLD SOME OR ALL OF SUCH COMMON SHARES AS OF THE CLOSE OF TRADING ON APRIL 14, 2022 AND/OR AUGUST 15, 2022?

THIS NOTICE MAY AFFECT YOUR LEGAL RIGHTS

VANCOUVER, BC and TORONTO, April 16, 2025 /PRNewswire/ — A class action settlement has been reached in Demmer et al. v. Trevali Mining Corporation et al., SCBC S-228113. The action was certified by the Supreme Court of British Columbia.

The settlement is a compromise and is not an admission of liability or wrongdoing or fault by the Defendants. The proposed settlement is subject to court approval. Capitalized terms used herein but not defined have the same meanings as are ascribed to them in the Settlement Agreement.

The class action has been certified on behalf of all persons and entities, wherever they may reside or may be domiciled, who purchased or otherwise acquired the common shares of Trevali in the primary market and/or in the secondary market between October 9, 2020 through to August 15, 2022 inclusive, and held some or all of such common shares as of the close of trading on April 14, 2022 and/or August 15, 2022. 

For the payment of $2,800,000 by the Defendants, the Class will release the Defendants from all claims. The settlement funds, after payment of Class Counsel’s fees, expenses, and any honorariums to the plaintiffs, will be distributed to the class in accordance with the Distribution Protocol.

The representative plaintiffs have entered into a contingency fee agreement with class counsel providing for a maximum fee of 30%. Class Counsel will seek approval of their fees at or after the settlement approval hearing. The Court will determine the amount to be paid to Class Counsel for legal fees and disbursements.

You are automatically included in the Class, and will be bound by the Settlement if approved by the Court, unless you opt out. If you do not want to be part of the lawsuit, you must opt out of the proceeding by delivering an opt out form to Class Counsel by no later than May 20, 2025.

For members of the Class that wish to object to the Settlement, Distribution Protocol, Class Counsel Fees or the plaintiffs’ honorariums, you must notify Class Counsel no later than May 20, 2025, in the manner set out in the long form notice.

Class Counsel are KND Complex Litigation. More information on the settlement (including the opt-out form and Settlement Agreement) is available at https://www.knd.law/class-actions/trevali-mining-corp/ .

This notice has been authorized by the Supreme Court of British Columbia.

Sage Nematollahi, KND Complex Litigation, trevali@knd.law