BEIJING, CHINA – Media OutReach Newswire – 4 January 2025 – A large number of Chinese women are breaking the glass ceiling to enter professions that were previously dominated by men. The first female pilot recruited by the People’s Liberation Army (PLA) Air Force in China’s Xizang (Tibet) Autonomous Region has attracted wide attention.
According to data from the National Bureau of Statistics (NBS) of China, the labor force participation rate of Chinese women has risen from 7.5 percent in 1949 to 61.1 percent in 2023. In recent years, a large number of women have played important roles in manufacturing, service, high-tech, and green industries, etc. They not only promote economic development in traditional fields but are also doing “male jobs”, with the number of female pilots, academicians, entrepreneurs, and diplomats on the rise.
Kelsang Pedron, a woman of the post-2000 generation, i.e., youths born from 2000 to 2009 in China, is the first female pilot from Xizang (Tibet) Autonomous Region recruited by the PLA Air Force. She has had a dream of “flying into the blue sky” since childhood. In Kelsang Pedron’s eyes, gender is no longer an obstacle on the road for women to pursue dreams. She went through the same rigorous selection and training as her male classmates before becoming a qualified fighter pilot.
“I had undergone an entire selection process and procedures to get this far, and I was determined to excel and not to be eliminated, so I studied very hard,” she said.
Kelsang Pedron has successfully completed a single test flight for a fighter aircraft, delivering excellent results in this stage of training. She said that flying has become a goal from merely a passion at the very beginning.
“I should train hard to become a fighter pilot to protect the blue skies of our motherland,” said Kelsang Pedron.
At present, there are more and more female college graduates like Kelsang Pedron. For their diverse employment needs, the Chinese government has also put forward many support measures. In September 2024, the Communist Party of China Central Committee and the State Council unveiled a set of guidelines to promote high-quality and sufficient employment by implementing the employment-first strategy, which proposed to safeguard the legitimate rights and interests of women in employment and entrepreneurship, career development, skills training, occupational health, and safety, etc., and build a birth friendly employment environment.
Hashtag: #ChinaNewsService
The issuer is solely responsible for the content of this announcement.
BAODING, CHINA – Media OutReach Newswire – 3 January 2025 – 28th December, 2024, at the prestigious LIWA Hero Festival in the Middle East, GWM’s TANK 500 Hi4 Z edition lead the charge and made a bold and unforgettable entrance, capturing the attention of off-road enthusiasts and global fans alike. Through an exciting series of events, numbers of renowned KOLs and influencers as they embark on a journey with the GWM off-road family, showcasing the brand’s unmatched off-road capabilities and celebrating its groundbreaking Hi4-Z technology. This experience transcends mere driving—it’s a testament to China’s leadership in off-road innovation, creating a new standard in the global off-road community.
GWM’s Hi4 Off-Road Family Takes Over LIWA: A Journey Through Adventure and Innovation
In the golden sands of the Liwa Desert, where the dunes stretch as far as the eye can see, the 2024 Liwa Hero Festival became the stage for Great Wall Motor (GWM) to redefine off-road excellence. With the TANK 500 leading the charge, GWM once again demonstrated its commitment to pushing the boundaries of innovation, proving that Chinese engineering is a force to be reckoned with on the global stage.
This year’s festival brought together off-road enthusiasts, automotive experts, and influencers from across the globe. Amid the desert’s demanding terrain, the TANK 500 emerged as a star, showcasing its advanced Hi4-Z hybrid platform and delivering an awe-inspiring performance that sparked global conversations across social media.
The Liwa Desert: A Test of True Off-Road Prowess
The Liwa Desert, nestled in the UAE, is home to some of the world’s most challenging off-road terrains. Renowned for its towering sand dunes like the iconic Moreeb Dune, also known as the “Tall Hill,” this desert offers a unique blend of natural beauty and extreme difficulty. Moreeb Dune rises to over 300 meters, with a slope gradient exceeding 50 degrees, making it a true test of any vehicle’s capability. Other formidable challenges include: Sabkha (Salt Flats): These deceptive, flat surfaces demand high traction control and stability due to their soft, shifting layers. Slip Faces: Sudden drops and steep inclines require precise torque distribution and power management. Deep Sand Traps: These stretches test a vehicle’s ability to maintain momentum without losing traction. Each of these features makes the Liwa Desert an unforgiving environment, ideal for proving the mettle of GWM’s off-road vehicles.
The TANK 500 turned heads at the festival, not only for its commanding design but also for its revolutionary Hi4-Z hybrid platform, which has redefined what an off-road vehicle can achieve. As the first platform of its kind, Hi4-Z combines raw power with cutting-edge hybrid efficiency, tailored specifically for extreme conditions.
Moreeb Dune, one of the most famous and steepest dunes in the Liwa Desert, rises at an almost vertical angle of 50 degrees. It’s here that the TANK 500’s Hi4-Z system truly shines, effortlessly climbing steep inclines and tackling the toughest sand conditions with its strong torque and power output. The Hi4-Z system delivers a combined power output of 715 kW, allowing the TANK 500 to accelerate from 0 to 100 km/h in just 4 seconds. This power, paired with a 3-speed DHT transmission, ensures seamless gear shifts and optimal performance across various terrains.
As the convoy ventures through the desert, deep sand pits, sand dune valleys, and rapid dune crossings test both the vehicles’ capabilities and the drivers’ skills. The TANK 500, with its advanced suspension system and Hi4-Z hybrid system, absorbs the shock of the deep sand valleys, providing a smooth and stable ride even in the most unpredictable conditions. The Hi4-Z platform’s torque distribution between the electric and combustion engines ensures that no terrain is too difficult to navigate. With a pure electric range of 200+ km, the TANK 500 offers an eco-friendly yet powerful solution for extended adventures. Its fast-charging capability adds 120 km of range in just 15 minutes, ensuring minimal downtime during long off-road expeditions.
Next, the spotlight shifts to the Moresha Dune Challenge, where the TANK 500 leads the pack, charging ahead with its striking red exterior. As it takes on the famous dunes, KOLs drove TANK 500s to take on some of the most challenging off-road conditions. The TANK 500’s remarkable performance is on full display, easily outpacing other vehicles, thanks to the TANK 500’s body-on-frame body structure and high-strength chassis, as they were critical in tackling steep inclines and uneven surfaces, providing unmatched durability and stability in the harsh desert environment. Meanwhile, a high-density 234 Wh/kg lithium-ion battery, the Hi4-Z platform supports superior energy efficiency and discharge power, outperforming other plug-in hybrid vehicles in its class.
Celebrating the Off-Road Family: A Festival of Innovation and Unity
The Liwa Hero Festival also provided a platform to showcase GWM’s full range of off-road vehicles, including the TANK 300, HAVAL H9, and POER series. Each model highlighted GWM’s commitment to creating vehicles that cater to diverse off-road needs, from family-friendly adventures to professional-grade challenges.
One of the event’s most anticipated moments is the User Gala, where key GWM executives, take the stage to discuss the brand’s achievements and future. As the leaders highlight the impact of GWM’s off-road family and the success of the TANK 500, KOLs share their thoughts, recapping the most memorable moments of the event.
The festival kicked off with a comprehensive exhibition of GWM’s off-road family. Influencers and KOLs provided real-time reviews, delving into the design, performance, and technological advancements of the TANK 500 and its siblings. Attendees also had the chance to interact with GWM’s technical experts, gaining insights into the mechanics behind the Hi4-Z and Hi4-T platforms.
Over 28 GWM vehicles formed a convoy, parading through the dunes and creating an awe-inspiring spectacle. The convoy’s finale featured the vehicles forming the GWM logo, symbolizing unity and innovation—a moment that quickly went viral online. The highlight of the festival saw the TANK 500 take on the legendary Moresha Dune. With its iconic red finish, the vehicle led the pack, climbing the steep incline effortlessly, thanks to its exceptional torque and power distribution. This feat solidified the TANK 500’s reputation as a true off-road champion. GWM invited enthusiasts and vehicle owners to share their personal off-road stories, creating a sense of community and global connection. Their tales, combined with live demonstrations, showcased the TANK 500’s versatility in real-world scenarios. The festival concluded with a vibrant gala, featuring local music, cuisine, and a campfire gathering. GWM executives emphasized the company’s vision for global collaboration and cultural exchange, ensuring that the TANK 500 represents not just technology but also a bridge between diverse communities.
The success of the TANK 500 at the Liwa Hero Festival marks a turning point in how Chinese vehicles are perceived globally. GWM is not merely exporting products; it is sharing a vision of off-road culture that resonates with enthusiasts worldwide.
From the deserts of the Middle East to the rugged trails of Australia and the forests of North America, GWM is integrating localized insights into its vehicle designs. This global approach ensures that each model meets the unique demands of its market while preserving its core identity as a high-performance off-road machine. As GWM continues to innovate, the TANK 500 and the Hi4-Z platform represent only the beginning of a broader strategy to lead the global off-road market. By embracing a philosophy of long-termism and professional dedication, GWM is setting new standards for hybrid technology, sustainability, and user experience.
What’s Next for GWM?
– Diverse Powertrain Options: Expanding the Hi4-Z platform to include more solutions in the Hi4 Tech Family, catering to a wide range of user preferences and environmental needs.
– Global Expansion: Establishing localized manufacturing and service centers, ensuring that GWM’s vehicles and expertise are accessible to enthusiasts worldwide.
– Community Building: Strengthening the bond between GWM and its users through immersive experiences like the Liwa Hero Festival, fostering a global community of off-road enthusiasts.
The TANK 500’s triumphant performance at the Liwa Hero Festival is more than just a milestone for GWM; it’s a call to action for off-road enthusiasts worldwide. Whether you’re scaling dunes, navigating forests, or embarking on urban adventures, GWM invites you to be part of a journey where innovation meets passion and where every terrain is a new opportunity to push boundaries.
Stay connected with GWM for more updates on its groundbreaking vehicles and initiatives. Together, we’re not just driving change—we’re redefining the future of off-roading.
KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 3 January 2025 – The Malaysia Global Business Forum (MGBF) has opened individual membership in time for Malaysia’s ASEAN Chairmanship, with the objective of bringing a suite of strategic solutions to a broader membership base. This was only previously available to the corporate sponsors and supporters of the high-profile advocacy platform.
In this exciting move, timed to be part of the deeper focus on ASEAN in Malaysia, individual business people can now leverage the access and advocacy efforts of MGBF. The first 118 members will also be known as founding members. These members will receive priority access to meetings and events along with an exclusive MGBF merchandise.
The companies, trade associations and governments will still be able to engage with the MGBF on a project-by-project basis or by sponsoring a dedicated event, research project or engagement programme. This approach will ensure that the objective of each corporate sponsor is met and that the MGBF is part of a sustainable future.
Nordin Abdullah, Founding Chairman of MGBF, said, “We have seen many chambers of commerce and business councils struggle over the past few years with issues around membership renewal. It is not something we want our members to face, so we have created a lifetime membership programme for individuals. This allows individual business people and those in the corporate sector to have access to the membership benefits and have a sense of loyalty.”
MGBF empowers stakeholders at the intersection of international and Malaysian business. Through government relations, business intelligence, advocacy, media engagement, market research, networking, advisory and business matching, MGBF delivers results for individuals, corporations, trade and business associations, and national and state governments.
“This comes at an important time with Malaysia taking on the chairmanship of ASEAN. The country will see a host of high-level political visits that will be accompanied by business leaders and government officials. Business people need to be kept abreast of these developments at the ASEAN level and the other bilateral and multilateral developments which impact their business and supply chains,” continued Nordin who is a frequent speaker in international business events.
The Malaysia Global Business Forum advocates for successful outcomes for its members while providing a powerful platform to communicate with stakeholders in government, community and the broader business community. This together with an attention to detail ensures that members will see the MGBF as part of its “suite of strategic solutions” in the dynamic business environment that is Malaysia and ASEAN.
“We will take a strategic view of the various states in Malaysia. Businesses need access to the high-level decision makers in the various states. At the same time, state governments are looking to energise their business ecosystem and attract real investors to set up operations. This is a critical gap that the Malaysia Global Business Forum will endeavour to address for its members,” concluded Nordin who is also a regular commentator in the media.
The next event will be the MGBF Roundtable that will focus on the emerging area of “Corporate Community Involvement in Sports”. The goal of the roundtable is to understand the gaps in the corporate-community ecosystem and how involvement in sports by the corporate sector will create value in terms of community engagement, communication, stakeholder management and meeting corporate social responsibility (CSR) goals. To sign up for this engaging event visit https://www.linkedin.com/events/mgbfroundtable-corporatecommuni7279369593976975360/.
The Malaysia Global Business Forum lifetime membership fee is RM500 plus SST for Malaysian residents and USD150 for international members. To sign up, follow this link: https://forms.gle/zquSwAXGWukZWNAw6
For more information about the Malaysia Global Business Forum, visit www.MalaysiaGlobalBusinessForum.com. Hashtag: #MalaysiaGlobalBusinessForum
The issuer is solely responsible for the content of this announcement.
Next-gen harmonious user experience that perfectly embodies the fusion of technology, comfort, and freedom
LAS VEGAS – Media OutReach Newswire – 3 January 2025 – CarUX Technology Pte. Ltd., with the direction “More than Display, and Far Beyond,” will showcase new vision solutions for automotive products based on her strategy, Harmonious User Experience “HUE”, from January 7th to 9th in Las Vegas, USA. CarUX keeps providing the differentiation elements and the freedom of stylish design, by bridging the technology to the automotive standards. The exhibition includes the first OLED solution of CarUX.
As CarUX Chairman as well as Innolux Chairman and CEO Jim Hung stated, “With the rapid advancements in mobility technologies and AI, the car has evolved from merely transportation to another living space, connecting digital lifestyles through networking. CarUX is dedicated to relief the limitations of Display Devices to Vision Solutions by the product strategy “Harmonious User Experience.” From the launch of LID, Large Information Display, to the array of solutions we are showcasing now, we have been leveraging years of accumulated knowledge to create platforms, that carries safety and infotainment content, blended seamlessly into automotive interior and exterior designs”. Innolux Group will support its subsidiary CarUX in actively expanding smart automotive solutions as a system provider.
CarUX automotive solutions feature organic shapes that integrated into vehicle styles. The displays are characterized by outstanding performance, including ultra-low reflection rate, high brightness, high contrast, wide color gamut, energy efficiency, and fast response times. In addition to CarUXs’ ongoing AM miniLED, MicroLED as well as the first OLED solution are in its portfolio of vision solutions
Pioneering a New Era of Automotive Vision Solutions with “Harmonious User Experience” CarUX debuted a comprehensive Windshield Reflective Solution (WRS), featuring the “9.6-inch Micro-LED AR WRS” and the “48-inch WRS.” WRS utilizes high-brightness, high-resolution, and energy efficiency by Micro-LED projective module embedded with proprietary algorithms, to deliver stereoscopic images with depth perception. This enables drivers to access essential information, from the projective image on the windshield, while keeping their eyes on the road enhancing driving safety. Additionally, the system extends the projection range to co-pilot’s view, offering more infotainment options while allowing partial projection deactivation to reduce in-cabin light sources for comfort. WRS significantly reduces the size of conventional head-up display, HUD, freeing up valuable cabin space. This innovative solution not only improves driving safety but also enhances interior design with a futuristic, high-tech aesthetic, redefining the in-car-user-experience and setting a new benchmark.
During the exhibition, CarUX is also unveiling several cutting-edge technologies under “Harmonious Driving Experience,” including more than ten features in”Smart Display+” that allows distributed computing and lower the data transit bandwidth, multiple new version of “InvisiView“, “Kinematic Solutions“, “Haptics and Force Sensing“, and “Camera Behind Display.” CarUX actively drives solution development and deliver enhanced value across the ecosystem in collaboration with strategic partners.
First Revolutionary Next-Gen OLED Display Technology CarUX, with its partner JDI, has jointly developed the “32-inch OLED LID“, featuring the next-generation OLED Technology, eLEAP. Compared to conventional OLED displays on the market, eLEAP offers twice the brightness and triple the lifespan, providing customers with a superior OLED display option. As well, eLEAP represents a breakthrough in GreenTech and its highly efficient manufacturing process reduces CO2 emissions by 50%, making it a sustainable solution for automotive industry.
Hashtag: #CarUX
The issuer is solely responsible for the content of this announcement.
SINGAPORE – Media OutReach Newswire – 3 January 2025 – Flint, the pioneering deep tech company developing a proprietary paper battery technology, has raised US$2 million in seed funding. This funding round, led by a global consortium of angel investors, will accelerate Flint’s efforts to bring high-performance, sustainable energy storage solutions to market.
“This funding milestone represents years of technical breakthroughs, and now, with real-world applications on the horizon, we are laser-focused on delivering our solutions to market,” said Mr. Carlo Charles, Founder and CEO of Flint, who has been recognized by the US State Department, the European Union, Google, TechCrunch, the International Union for Conservation of Nature, the Singapore government, and other esteemed institutions. “Our batteries are engineered to excel where traditional technologies fall short, and we believe they will transform industries that demand superior safety, sustainability, and flexibility.”
The funding supports commercial expansion, pilot production, and intellectual property development, positioning Flint to challenge legacy battery technologies like lithium-ion and lead-acid with cleaner, safer, and adaptive alternatives. The company is also set to roll out its first paid pilot project in the immediate future with an international customer in a diversified industry sector.
Key Highlights:
US$2 million seed funding raised from private investors across nine countries and AI-driven VC firm Hatcher+.
First commercial pilot project secured with a global enterprise, validating Flint’s market readiness.
Stealth mode exit after intensive R&D and proprietary battery designs now ready for commercialization.
Funds allocated toward pilot production, key hires, and intellectual property development.
Deep Tech Innovation: Rethinking Energy Storage
Flint’s cellulose-based paper batteries are engineered from the ground up to solve critical challenges in modern energy storage. These next-generation batteries are:
Highly Sustainable: Using natural and non-toxic materials such as cellulose paper, zinc and manganese, Flint eliminates hazardous components used in conventional battery technologies and are fully compostable at the end of their lifecycle, making recycling easier and cheaper, minimizing electronic wastes, and reducing environmental impact.
Inherently Safe: Explosion-proof, leak-proof, and immune to combustion risks, ensuring near-zero fire hazards even under extreme conditions.
Flexible and Durable: Flexible and designed to maintain functionality even when punctured, bent, or damaged, allowing new form factors for various applications.
Cost-Efficient: Leveraging low-cost input materials and scalable production processes, Flint addresses pricing concerns that have traditionally hindered the adoption of sustainable technologies.
Scalable for Rapid Adoption: Seamlessly integrates into existing manufacturing infrastructure, lowering barriers to industrial adoption and allowing for quick scaling.
These innovations represent a fundamental shift in energy storage, laying the groundwork for smarter, safer, and more environmentally sustainable batteries. Flint’s core technology addresses both anode and cathode breakthroughs, with proprietary electrolytes and separators enhancing performance, stability, and safety under extreme conditions.
Furthermore, Flint’s proprietary innovations not only address sustainability challenges but also remove the traditional “green premium” — the higher cost often associated with environmentally friendly products. For standard battery types and applications, Flint’s inexpensive input materials and efficient production processes enable competitively priced solutions. These solutions not only match the performance of conventional batteries but also provide a “green discount”: a more sustainable product at a lower price.
Strong Market Traction with High-Value Customers
With a global energy storage market valued at US$500 billion by 2030, Flint is strategically positioned to disrupt the industry. The company’s first paid pilot project with a diversified international enterprise validates its value proposition and underscores early market traction. Flint has already attracted interest from more than 20 companies across sectors, including:
Defense and Security
Energy Storage Systems
Critical Power Supply
Consumer Electronics
Space Applications
Electric Vehicles (EVs)
“These discussions highlight a growing appetite for next-generation energy solutions,” said Mr. Carlo Charles. “Our cost-effectiveness is key to driving adoption at scale. We’re not just offering a sustainable option; we’re offering a better, safer, and more affordable alternative to unsustainable batteries.”
“A lower production cost is at the core of creating demand, scaling quickly, and increasing adoption rates while ensuring profitability,” said Mr. Jeremy Wee, Co-Founder of Flint. “We are no longer confined to the lab — our commercial pilots are already demonstrating the tangible impact of our innovations in real-world applications.”
Investor Confidence and Funding Roadmap
The US$2 million seed funding round which closed in October was driven by private angel investors from France, Germany, Hong Kong, India, Singapore, Sweden, Switzerland, the UK, and the US. It also saw participation from Hatcher+, a venture capital firm recognized for leveraging machine learning and AI-driven insights to identify high-potential ventures. The capital infusion will be deployed to:
Scale pilot production capabilities
Secure intellectual properties to safeguard proprietary technologies
Build a world-class team of engineers and scientists
Drive commercialization efforts with pilot customers
“This announcement marks a major milestone for us as a company, and we are very humbled by the support from our investors, who, like us, believe in a better and greener future,” said Mr. Carlo Charles.
This funding builds on Flint’s national and international recognition from TechCrunch, the Techblazer Awards, the Institution of Engineers Singapore (IES), and accelerator programs by Shell and OPPO, along with grants from the Singapore government — further validating the company’s breakthrough potential.
Upcoming CES 2025 Global Launch
Flint will also showcase its prototypes and products at CES 2025 in Las Vegas from January 7th–10th, presenting to global tech leaders and strategic partners. CES is labelled the most powerful tech event in the world with more than 130,000 attendees expected.
At the end of 2023, Flint made its debut on the global stage of TechCrunch’s flagship event in San Francisco, standing out as the only company from Asia among just 20 start-ups selected worldwide out of a total of more than 3,200. Building on that momentum, Flint is now ready to leverage CES 2025 as a strategic launchpad for accelerated international expansion.
Shaping the Future of Sustainable Technology
“At Flint, we aim to do more than build better batteries — we’re changing the way the world envisions energy storage,” said Carlo Charles. “By positioning ourselves at the intersection of advanced technology and sustainability, we’re addressing the climate crisis head-on. Our paper battery technology isn’t just about better performance; it’s about creating a safer, greener standard that industries can rely on. This is the future of energy, and we’re proud to be leading the way.”
Our goal is simple: to create batteries that work great and are better for the planet,” added Mr. Jeremy Wee. “We’re not just solving today’s problems — we’re preparing for tomorrow and setting new standards for what’s possible in sustainability.”
The issuer is solely responsible for the content of this announcement.
Flint
SparkByFlint Pte. Ltd. (“Flint”) is a deep tech impact company headquartered in Singapore with a mission to offer the world’s most sustainable batteries. Flint specializes in developing next-generation rechargeable paper batteries that are safer, cleaner, and more flexible and cost-efficient than traditional lithium-ion and lead-acid batteries. Flint’s proprietary technology encompasses anode, cathode, separator, and electrolyte innovations, with cellulose paper at its core. The company’s batteries remain operational even when damaged and integrate easily with existing manufacturing processes, enabling rapid industrial adoption.
Saguenay, Quebec – Newsfile Corp. – 2 January 2025 – First Phosphate Corp. (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company”) is pleased to announce that it has closed its non-brokered private placement financing (the “Offering”), as further described in the Company’s news release dated December 18, 2024.
As part of the Offering, originally announced for gross proceeds of a minimum of $1 million, the Company raised total gross proceeds of $2,695,459. The Company issued 7,448,455 Flow-Through Shares for gross proceeds of $2,606,960 and 252,857 Hard Dollar Units for gross proceeds of $88,500.
“We are happy to have raised funds exclusively from a select group of existing and new investors, none of which is a traditional flow-through fund,” says Company CEO, John Passalaqua.
In connection with the Offering, the Company issued 230,948 Compensation Shares at a price of $0.35 per Compensation Share, and issued 230,948 Compensation Warrants, exercisable at a price of $0.50 per common share of the Company, until December 31, 2025, subject to an Accelerated Expiry Date. All securities issued under the Offering will be subject to a four-month and one day statutory hold period in accordance with applicable securities laws. The Company intends to use the proceeds from the Offering as disclosed in the Company’s press release dated December 18, 2024. Capitalized terms used in this news release and not defined herein have the meanings given to them in the Company’s news release dated December 18, 2024.
Insider Participation
In connection with the closing of the Offering, Larry Zeifman, a director of the Company, purchased a total of 285,714 Flow-Through Shares.
Registered Share Units (RSUs) Grant
The Company also announces that it has approved the grant of 3,100,000 restricted share units of the Company (“RSUs”) to eligible directors, management and staff of the Company as part of year end bonus compensation. The RSUs vest immediately and the terms of the RSUs are in accordance with the Company’s Omnibus Equity Incentive Plan. All securities issued are subject to a hold period of four months plus one day from the date of issuance.
Grant of Shares under Collaboration Agreement with Pekuakamiulnuatsh First Nation
Under the collaboration agreement signed on April 9, 2024, the Company has issued 574,389 shares to Pekuakamiulnuatsh First Nation for the exploration and development expenditures undertaken by the Company on the First Nation’s lands in calendar 2024.
Related Party Transactions
As related parties of the Company received Flow-Through Shares and RSUs in connection with the Offering and the grant of RSUs, the transactions are considered related party transactions for the purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The participation of the related parties of the Company are exempt from the formal valuation and minority shareholder approval requirements provided under MI 61-101 in accordance with sections 5.5(a) and 5.7(1)(a) of MI 61-101. The Company is relying on an exemption from the formal valuation requirements of MI 61-101 available because the fair market value of the Flow-Through Shares and RSUs purchased by and issued to the related parties does not exceed 25% of the Company’s market capitalization, as determined in accordance with MI 61-101. The Company did not file a material change report related to the transactions more than 21 days before the expected closing of the transactions as required by MI 61-101 but believes that this shorter period is reasonable and necessary in the circumstances as the Company wishes to improve its financial position and to close the Offering in short order for sound business reasons.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals. There can be no assurance that any further securities will be sold under Offering.
The issuer is solely responsible for the content of this announcement.
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.
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 terms of the Offering, including, the issuance of any securities, the closing and date of future tranches, and the receipt of all necessary approvals.
These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, which may prove to be incorrect, include, but are not limited to, the various assumptions set forth herein and in the Company’s public disclosure record including the short form base prospectus dated June 5, 2024, as well as: the receipt of all necessary approvals.
There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There can be no assurance that any opportunity will be successful, commercially viable, completed on time or on budget, or will generate any meaningful revenues, savings or earnings, as the case may be, for the Company. In addition, the Company will incur costs in pursuing any particular opportunity, which may be significant. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company and, though they should be considered carefully, should be considered in conjunction with the risk factors described in the Company’s other documents filed with the Canadian and United States securities authorities, including without limitation the “Risk Factors” section of the Company’s Management Discussion and Analysis dated October 21, 2024 and Annual Report on 20-F dated July 8, 2024, which are available on SEDAR at www.sedarplus.ca. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
ROSTOCK / GRÜNHEIDE – Newsaktuell – 2 January 2025 – Rescue for jobs at Rostock-based IMG Ingenieurtechnik und Maschinenbau GmbH (IMG). Zachert Ingenieurtechnik und Maschinenbau GmbH, a wholly owned subsidiary of Zachert Private Equity GmbH (ZPE), will take over the long-established mechanical engineering company when the contracts are signed on 31 December 2024. The takeover secures the Rostock site and over 75 per cent of jobs. The signing is still subject to the approval of the creditors’ committee in January. All parties involved have agreed not to disclose the purchase price.
Rescue for jobs at Rostock-based IMG Ingenieurtechnik und Maschinenbau GmbH (IMG). Zachert Ingenieurtechnik und Maschinenbau GmbH, a wholly owned subsidiary of Zachert Private Equity GmbH (ZPE), will take over the long-established mechanical engineering company when the contracts are signed on 31 December 2024. The takeover secures the Rostock site and over 75 per cent of jobs.
Securing jobs – preserving the future
The Rostock-based mechanical engineering company is a global supplier of complex systems and production lines for the shipbuilding and offshore industries. The company filed for insolvency at the end of October 2024. The contract signed at the turn of the year means that IMG can restart in 2025. Investor Olaf Zachert and the ZPE team specialise in the restructuring and further development of medium-sized companies. “Our aim is to preserve IMG’s tradition and expertise. It is important to us to preserve the jobs and the plant at this location as far as possible. Our priority now is the further expansion and reorganisation of production. We will work closely with the management, the works council and the workforce to achieve this,” says Olaf Zachert, founder and Managing Director of Zachert Private Equity
The negotiations were conducted by IMG’s insolvency administrator Ulrich Rosenkranz from the law firm BRRS Hamburg and the commercial law firm Seitz on behalf of the purchaser. Once the contract has been signed, Mr Rosenkranz will handle the existing orders, while the team led by investor Olaf Zachert will reorganise the company and secure the majority of jobs. The basis for this will be the acquisition concept of Zachert Private Equity. “We will work with and for the majority of employees and trainees to find a quick and promising solution. IMG’s long-standing and potential customers will continue to be supplied in the usual quality and we look forward to working with them,” says Olaf Zachert.
IMG Rostock remains
ZPE has already demonstrated its expertise in mechanical engineering with the takeover of the former Bühler AG plant in Döbeln (Saxony) in May 2024. The company now operates under the name Döbelner Anlagen- und Maschinenbau GmbH (DAMB). “We were able to secure all jobs here and have gained a lot of experience in mechanical and plant engineering. We now need to organise the targeted further development and strategic partnerships between the two plants at the respective locations,” explains investor Olaf Zachert. The expertise of the two production facilities will be pooled in future, the product portfolio expanded and further developed for promising markets. Sophisticated systems and production lines from Rostock will continue to be produced for IMG customers in the future.
The issuer is solely responsible for the content of this announcement.
About ZPE:
Zachert Private Equity GmbH (ZPE) is a restructuring expert with many years of experience in investing in mostly traditional medium-sized companies in often complex situations of upheaval. The primary objectives are to preserve jobs and strengthen the respective business model. To this end, the company often develops buy-and-build strategies. The founder and managing partner of the company, based in Grünheide, is Olaf Zachert.
IMG Ingenieurtechnik und Maschinenbau GmbH is a leading company in the development, planning and manufacture of complex systems and production lines. Based in Rostock, IMG is one of the world’s leading providers and suppliers of systems and machine parts for the shipbuilding, mechanical engineering, aviation, steel construction and wind energy industries. The product range includes shipyard and factory planning, machining centres and transport and handling systems. For decades, IMG has stood for technologies and the highest quality “Made in Germany”