Canadian Stock and Financial News

  • Sims Limited Pledges to Achieve Gender Balance in Executive Leadership by 2030

    Sims Limited Pledges to Achieve Gender Balance in Executive Leadership by 2030

    Canada NewsWire

    – Sustainability leader joined other ASX300 companies and investors in supporting ambition to have cognitive diversity across senior leadership teams –

    SYDNEY , Dec. 4, 2022 /CNW/ — Sims Limited , a global leader in sustainability and an enabler of the circular economy, today announced its support for industry super fund HESTA’s 40:40 Vision to increase the proportion of women in senior leadership across Australia’s largest listed companies to at least 40 percent by 2030.

    The number of women in leadership has flatlined with just 30 ASX300 companies having at least 40 percent women in executive leadership in 2020, according to Chief Executive Women’s latest census on ASX300 senior executives. 1

    Research 2 clearly demonstrates organisations that set quantitative composition targets for executive leadership are more likely to achieve balanced representation of men and women at this level.

    Workplace Gender Equality Agency and the Bankwest Curtin Economics Centre research 3 shows that an increase in the share of female ‘top-tier’ managers by 10 percentage points or more led to a 6.6 percent increase in the market value of Australian ASX-listed companies, which is worth the equivalent of A$104.7 million .

    By signing up to 40:40 Vision , Sims Limited is pledging its commitment to achieve gender balance by 2030 and putting diversity targets and plans in place to drive and embed this change across the company. This will include:

    • Pledging to achieve gender balance ( 40:40:20 ) in executive leadership by 2030;
    • Declaring medium and long term gender targets;
    • Making plans public to employees, shareholders, investors and the wider business community; and
    • Reporting annually on how they are tracking against targets.

    “Sims Limited recognises, and has been committed to, the business and social importance of achieving gender diversity,” said Alistair Field , CEO and managing director at Sims Limited. “In fiscal year 2022, we met our goal to have 25 percent of our female employees in executive and senior leadership roles – two years earlier than initially anticipated – and achieve gender balance on our Board of Directors. Participating in the 40:40 Vision is just another way of furthering this commitment and ensuring that we continue to hold ourselves accountable to these targets, as well as our target to close the gender pay gap and be transparent about our progress.”

    “We look forward to working collaboratively with the 40:40 Vision Steering Committee and using this as a platform for sharing challenges, innovation and excellence in practice,” said Brad Baker , global chief human resources officer at Sims Limited. “In this way, we can play our part in highlighting the work of Australian companies that are leading the way in gender diversity at the executive level and encouraging more companies to follow this lead.”

    To learn more about Sims Limited’s commitment to diversity, equity, and inclusion, visit https://www.simsltd.com/life-at-sims/dei .

    About Sims Limited
    Founded in 1917, Sims Limited is a global leader in sustainability and a key enabler of the circular economy whose 4,400 employees operate from more than 200 facilities in 15 countries. As the parent company of Sims Metal , a global leader in metal recycling; Sims Lifecycle Services , a provider of circular solutions for technology; and Sims Resource Renewal , an emerging leader in renewable energy; our purpose, create a world without waste to preserve our planet, is what drives us to constantly innovate and offer new solutions in the circular economy for consumers, businesses, governments and communities around the world. The company’s ordinary shares are listed on the Australian Securities Exchange (ASX: SGM) and its American Depositary Shares are quoted on the Over-the-Counter market in the United States (USOTC: SMSMY). For more information on how the company is driving sustainable change, visit www.simsltd.com .

    1 Chief Executive Women ASX300 Senior Executive Census 2020 Report
    2 https://www.asx.com.au/documents/asx-compliance/asx-corp-governance-kpmg-diversity-report.pdf
    3 https://www.wgea.gov.au/newsroom/media-releases/more-women-at-the-top-proves-better-for-business

    Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/sims-limited-pledges-to-achieve-gender-balance-in-executive-leadership-by-2030-301694210.html

    SOURCE Sims Limited

    Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2022/04/c8334.html

  • Why I Think Nuvei Stock Has Market-Beating Potential

    Why I Think Nuvei Stock Has Market-Beating Potential

    Nuvei ( TSX:NVEI ) is a technology company that offers next-generation payment solutions to small- and medium-scale businesses across multiple industries. The rising interest rates and inflationary environment have been weighing on tech stocks, including Nuvei. It has lost around 67% of its stock value compared to its 52-week high. The steep correction has dragged its NTM (next 12-month) price-to-earnings multiple down to 15.8, which is lower than its historical average.

    Meanwhile, I believe the correction is overdone, thus offering an excellent buying opportunity for long-term investors. Given its solid quarterly earnings, healthy growth prospects, and attractive valuation, I am bullish on the stock. Meanwhile, let’s first look at its third-quarter performance in more detail.

    Nuvei’s third-quarter performance

    In the September-ending quarter, Nuvei’s revenue grew by 7% to US$197.1 million. Higher volumes, new customer additions, expanded product offerings, and geographical expansion drove its revenue. However, unfavourable currency translation lowered its top line by US$11.5 million. The company witnessed strong growth across regions, with its overall volumes growing by 30% to US$28 billion.

    Its adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) increased marginally from US$80.9 million to US$81.2 million. Meanwhile, its net income fell 54% to US$13.0 million, primarily due to higher share-based payments. However, removing one-time items, its adjusted net income increased marginally to US$62.4 million. The company’s balance sheet looks solid, with its net cash at US$754 million at the end of the third quarter. So, the company is well equipped to support its growth initiatives. Meanwhile, let’s look at its growth prospects.

    Nuvei’s growth prospects

    The e-commerce growth has made digital transactions popular, thus creating a multi-year growth potential for Nuvei. The company has expanded its APM (alternative payment method) portfolio to 586, allowing its customers to receive payments from various digital payment methods. Also, it has strengthened its platform architecture and infrastructure, which could support a more significant number of transactions per second.

    It has launched various innovative products across multiple markets to enhance its customers’ experience. Its “Nuvei for Platforms” launched in the September-ending quarter and could accelerate its marketplace offerings with a fully customizable solution. Further, Nuvei also received gaming licenses in Maryland and Kansas, expanding its online gaming industry presence in the United States. So, its growth prospects look healthy.

    Meanwhile, Nuvei’s management has raised its volume and adjusted EBITDA guidance for this year. The management hopes to achieve volume and revenue growth of over 30% in the near to medium term. Its adjusted EBITDA margin could cross 50% over the long run.

    Macro factors

    Rising interest rates have severely hurt growth stocks , including Nuvei, this year. However, amid cooling inflation, Jerome Powell, the chairman of the Federal Reserve, stated that the central bank could announce smaller interest rate hikes in the coming months, which could be positive for the company.

    Bottom line

    Given the uncertain economic outlook and higher interest rate environment, I expect Nuvei to be under pressure in the near term. However, given its growth initiatives, expanding addressable market, and attractive valuation, I believe Nuvei to outperform the market over the next three years.

    The post Why I Think Nuvei Stock Has Market-Beating Potential appeared first on The Motley Fool Canada .

    Fool contributor Rajiv Nanjapla has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nuvei. The Motley Fool has a disclosure policy .

    2022

  • Wealhouse Wins at Canadian Hedge Fund Awards (CHFA)

    Wealhouse Wins at Canadian Hedge Fund Awards (CHFA)

    Toronto, Ontario–(Newsfile Corp. – December 3, 2022) – Wealhouse Capital Management (“Wealhouse”) is pleased to announce that two of its Funds, the Lions Bay Fund and Amplus Credit Income Fund, were the recipients of multiple awards at Alternative IQ’s Canadian Hedge Fund Awards.

    Of the 234 Canadian hedge funds that participated in the 2022 Canadian Hedge Fund Awards program, Wealhouse took home four awards.

    Senior Portfolio Manager, Andrew Labbad’s Amplus Credit Income Fund placed:

    • Best 1 Year Return, Credit Focused – 2nd place

    Senior Portfolio Manager, Justin Anis’ Lions Bay Fund placed:

    • Best 3 Year Sharpe, Equity Focused – 1st place
    • Best 1 Year Return, Equity Focused – 2nd place
    • Best 3 Year Return, Equity Focused – 3rd place

    The 2022 Canadian Hedge Fund Awards, the highest honour in Canada’s hedge fund industry, were presented last week at One King West Hotel in Toronto. The Canadian Hedge Fund Awards help investors identify the most exceptional hedge funds, recognizing winners in 6 categories as well as the Overall Best 2022 Canadian Hedge Fund. The awards are based solely on quantitative performance data to June 30th, with Fundata Canada managing the collection and tabulation of the data to determine the winners. There is no nomination process or subjective assessment in identifying the winning hedge funds.

    About Wealhouse

    Wealhouse Capital Management was established in 2008 as an independent, privately owned alternative asset manager. The goal was to provide award-winning investment strategies to ultra-high net worth individuals, family offices and advisors. Today, Wealhouse’s small but mighty team manages more than a billion in assets for Canada’s wealthiest families and entrepreneurs.

    Wealhouse believes business is personal, and to treat investors’ money exactly like its own – in fact, all employees are invested in the company’s funds. It isn’t about any one manager or person. Wealhouse’s success is built on a healthy combination of individuality and collaboration, backed by a rigorous approach to methodology and process.

    Wealhouse is investment generalists, tuned to find value and opportunities as they arise. Wealhouse is constantly learning and evolving its strategies in order to take advantage of the changes the markets inevitably go through. Wealhouse anticipates these shifts to mitigate risk, identify opportunity and protect investors’ capital.

    To that end, Wealhouse is not wedded to any particular thesis, industries, sectors or geographies. The company seeks opportunities wherever they may be and – being a small and nimble organization – Wealhouse pounces on them, often before anyone else. While market volatility can crush competitors, Wealhouse embraces it – because Wealhouse sees changes coming and is equipped to take full advantage. Change is inevitable, and it’s Wealhouse’s mission to make it work for investors.

    For further information, visit www.wealhouse.com or contact:

    Emily Newman, Executive Vice President, Sales
    [email protected]

    Cailey Orellana, Associate, Sales & Marketing
    [email protected]

    About the Annual Canadian Hedge Fund Awards:

    The Annual Canadian Hedge Fund Awards were first held in 2008 and have a two-fold objective: First, to celebrate the talent and accomplishments of Canada’s hedge fund industry, and second, to draw attention to Canada’s hedge funds by raising the awareness of that expertise in the media and among the wider investment community.

    http://alternativeiq.com/canadian-hedge-fund-awards/media/

    Disclaimer:

    The Funds are only available to accredited investors only. Please read the offering memorandum carefully before investing. Commissions, trailing commissions, management fees, performance fees and expenses all may be associated with fund investments. All performance data assume reinvestment of all distributions or dividends and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Current year performances are unaudited and past performances may not be repeated. All information is subject to change from time to time without notice.

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146639

  • Voyageur Pharmaceuticals Ltd. Announces Equity Incentive Compensation

    Voyageur Pharmaceuticals Ltd. Announces Equity Incentive Compensation

    Calgary, Alberta–(Newsfile Corp. – December 2, 2022) – Voyageur Pharmaceuticals Ltd. (TSXV: VM) (OTC Pink: VYYRF) (the “Company” or “Voyageur”) announces that it has issued 125,322 Deferred Share Units (“DSUs”) to directors pursuant to its fixed 10% equity incentive compensation plan adopted by the Company following receipt of shareholder approval on June 28, 2021 (the “Plan”). Each DSU represents a right of the holder to receive one common share (“Common Share”) of the Corporation effective as of the date that the holder ceases service as a director of the Company. The DSUs are used to compensate directors of the Corporation for their annual retainers. The DSUs do not have an exercise price but have a starting value equal to approximately $0.09974 per DSU, based on the weighted average share price for the quarter ended September 30, 2022. The DSUs are subject to the terms of the Plan and the policies of the TSX Venture Exchange (the “Exchange”).

    The Company further announces that it has issued 796,594 Common Shares to former directors of the Company pursuant to the terms of their DSUs. In addition, the Company has agreed to pay existing debts to these same directors in the aggregate amount of $12,500 through the issuance of 125,322 Common Shares at a deemed price of $0.09974 per Common Share (the “Share Payment”). The proposed Share Payment relates to a portion of director fees that were earned by these former directors during the quarter ended September 30, 2022, which in accordance with the Company’s compensation strategy, would be paid by the issuance of DSUs in the normal course. Because these directors did not stand for re-election at the Company’s annual shareholder meeting on September 28, 2022, they were no longer eligible to receive DSUs under the Plan. The Share Payments are subject to regulatory approval, including the approval of the Exchange. The Common Shares issued pursuant to the Share Payment are subject to a four month hold period from the date of issuance.

    About Voyageur

    Voyageur is a Canadian public company listed on the TSXV under the trading symbol VM. Voyageur is focused on the development of barium and iodine Active Pharmaceutical Ingredients (“API”) and high-performance cost-effective imaging contrast agents for the medical imaging marketplace. Voyageur’s goal is to fully integrate the barium and iodine contrast market by producing its own minerals of barium and iodine. The business plan is to initially generate cash flow from operations using third party GMP pharmaceutical manufacturers in Canada and validate the products for regulatory agencies globally. Then transitioning into a high margin domestic manufacturer of radiology drugs. Voyageur has plans to build carbon neutral infrastructure to become 100% self-sufficient across all manufacturing activities. Voyageur owns a 100% interest in three barium sulphate (barite) projects including the Frances Creek property, suitable in grade for the pharmaceutical marketplace, with additional interests in a high-grade iodine, lithium & bromine brine project located in Utah, USA. Voyageur is moving forward with its business plan of becoming the only fully integrated carbon neutral company in the radiology contrast media drug market, by controlling all primary input costs under the motto of:

    “From the Earth to the Bottle”.

    For Further Media Information or to set up an interview, please contact:

    Brent Willis
    President & CEO
    [email protected]

    Al Deslauriers
    CFO
    [email protected]

    www.voyageurpharmaceuticals.ca

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

    Cautionary Statement Regarding “Forward-Looking” Information

    This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to receipt of Exchange approval for the Share Payment. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company’s disclosure documents on the SEDAR website at www.sedar.com. Voyageur does not undertake to update any forward-looking information except in accordance with applicable securities laws.

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146677

  • Belmont Announces Resignation of Board Member

    Belmont Announces Resignation of Board Member

    (TheNewswire)

    Belmont Resources Inc.

    Vancouver, B.C. Canada, TheNewswire, December 2, 2022 ; Belmont Resources Inc. (“Belmont”), (or the “Company”), (TSX.V: BEA; FSE: L3L1) announces the resignation of Geoffrey Peretz as a member of the Board of Directors effective November 28, 2022.

    Belmont and the Board are currently evaluating alternatives with respect to appointing two independent directors to fill the two current vacancies.

    About Belmont Resources

    Belmont Resources has assembled a portfolio of highly prospective copper-gold-lithium & uranium projects located in British Columbia, Saskatchewan, Washington and Nevada States. Its holdings include:

    • The Come By Chance (CBC), Athelstan-Jackpot (AJ) and Pathfinder copper-gold projects situated in the prolific Greenwood mining camp in southern British Columbia.

    • The Crackingstone Uranium project in the uranium rich Athabasca Basin of northern Saskatchewan.

    • The Lone Star copper-gold mine in the mineral rich Republic mining camp of north central Washington State.

    • The Kibby Basin Lithium project located 60 kilometers north of the lithium rich Clayton Valley Basin.

    ON BEHALF OF THE BOARD OF DIRECTORS

    “George Sookochoff”

    George Sookochoff, CEO/President/Chairman

    Ph: 604-505-4061

    Email: [email protected]

    Website: www.BelmontResources.com

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

    Copyright (c) 2022 TheNewswire – All rights reserved.

  • Royal Helium Announces Grant of Incentive Stock Options

    Royal Helium Announces Grant of Incentive Stock Options

    Canada NewsWire

    SASKATOON, SK , Dec. 2, 2022 /CNW/ – Royal Helium Ltd. (“Royal” or the “Company”) (TSXV: RHC) has approved the grant of 6,090,000 incentive stock options pursuant to the Company’s stock option plan effective September 14 , 2022.  4,590,000 of the options were granted to Directors and Executive Officers, with the balance being granted to employee and consultants. The options are exercisable at $0.26 per share and, if not exercised, expire December 1, 2027 , subject to earlier expiration in accordance with the stock option plan and the applicable policies of the TSX Venture Exchange.

    About Royal Helium Ltd.

    Royal controls over 1,000,000 acres of prospective helium land across southern Saskatchewan and southeastern Alberta . All of Royals’ lands are in close vicinity to highways, roads, cities and importantly, close to existing oil and gas infrastructure, with a significant portion of its land in close proximity to existing helium producing locations. With stable, rising prices and limited, non-renewable sources for helium worldwide, Royal intends to become a leading North American producer of this high value commodity. Royal’s helium reservoirs are carried primarily with nitrogen. Nitrogen is not considered a greenhouse gas (GHG) and therefore has a low GHG footprint when compared to other jurisdictions that rely on large scale natural gas production for helium extraction. Helium extracted from wells in Saskatchewan and Alberta can be up to 99% less carbon intensive than helium extraction processes in other jurisdictions.

    CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

    This news release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this news release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including negotiation of definitive documents in respect of the loan facility and anticipated closing thereof, anticipated deliveries under Royal’s offtake agreement by April 2023 , anticipated drilling of the Nazare horizontal well and other drilling plans, the intended construction of a Steveville Helium Processing Plant and pipelines and accelerated development of the Company’s other assets. In addition, all references to resources are deemed to be forward-looking statements as they involve the implied assessment, based on certain estimates and assumptions, that the resources described exist in the quantities predicted or estimated and can be profitably produced in the future. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the Company’s control, including without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, volatility in production rates, environmental risks, the ability to procure services and materials necessary to complete the Climax processing plant at the cost and within the timeline anticipated by the Company, inability to obtain drilling rigs or other services, capital expenditure costs, including drilling, completion and facility costs, unexpected decline rates in wells, wells not performing as expected, delays resulting from or inability to obtain required third party and regulatory approvals, ability to access sufficient capital from internal and external sources, inability to access gas transportation and processing infrastructure, the impact of general economic conditions in Canada , the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, and the uncertainty of estimates and projections of production, costs and expenses. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information and risks applicable to the Company.

    SOURCE Royal Helium Ltd.

    Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2022/02/c0384.html

  • AFRICA OIL – KENYA HIGH COURT TAX APPEAL UPDATE

    AFRICA OIL – KENYA HIGH COURT TAX APPEAL UPDATE

    Canada NewsWire

    VANCOUVER, BC , Dec. 2, 2022 /CNW/ – (TSX: AOI) (Nasdaq-Stockholm: AOI) – Africa Oil Corp. (“AOI”, “Africa Oil” or “the Company”) provides an update on its appeal process  in relation to Kenya Revenue Authority’s (“KRA”) corporate income tax (“CIT”) and value added tax (“VAT”) assessments, made in connection with farmout transactions completed during the period of 2012 to 2017. View PDF Version

    On April 8, 2020 , Africa Oil announced that Kenya Tax Appeals Tribunal (“TAT”) had ruled on the Company’s appeal related to KRA’s CIT and VAT assessments, made in connection with farmout transactions completed during the period of 2012 to 2017. TAT ruled in favour of the Company with regards to the CIT assessments and in favour of KRA with regards to the VAT assessments. Subsequently, Africa Oil filed an appeal with the High Court of Kenya to challenge the VAT decision and KRA filed an appeal in relation to the CIT decision.

    On 30 November 2022 , the High Court of Kenya announced its decisions on the Company’s Tax Appeal Case Number 024 (consolidated with KRA’s Tax Appeal Case Number 051), and the judgment was made available to the Company yesterday. The Company’s appeal with regard to the VAT assessment was partly successful and the High Court concluded that the Company owes VAT in an amount of Kenyan Shillings 2,293,334,065 (approximately US$ 18.7 million ). The KRA’s appeal with regard to the CIT decision was partly successful and the High Court concluded that the KRA was correct to disallow certain costs claimed by the Company; however, the High Court’s decision on the KRA’s appeal with regards to CIT is not expected to have a material cashflow impact to the Company.

    Africa Oil is taking legal advice on the options available to it in view of this decision, including the option to appeal.

    About Africa Oil

    Africa Oil Corp. is a Canadian oil and gas company with producing and development assets in deepwater Nigeria ; development assets in Kenya ; and an exploration/appraisal portfolio in Africa and Guyana . The Company is listed on the Toronto Stock Exchange and on Nasdaq Stockholm under the symbol “AOI”.

    This information is information that Africa Oil Corp. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below on December 2, 2022 at 5:30 p.m.ET .

    Forward Looking Information

    Certain statements and information contained herein constitute “forward-looking information” (within the meaning of applicable Canadian securities legislation), including the Company’s assessment of the impact of the CIT decision on its future cashflow and the availability of the right to appeal the CIT decision. Such statements and information (together, “forward looking statements”) relate to future events or the Company’s future performance, business prospects or opportunities.

    All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar expressions) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements involve known and unknown risks, ongoing uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. The Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. Actual results may differ materially from those expressed or implied by such forward-looking statements.

    SOURCE Africa Oil Corp.

    Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2022/02/c5959.html

  • EF ENergyFunders Announces Resignation of Board Member

    EF ENergyFunders Announces Resignation of Board Member

    (TheNewswire)

    EF EnergyFunders Ventures Inc.

    December 2, 2022 – TheNewswire – Calgary, Alberta – EF EnergyFunders Ventures, Inc. (“ EnergyFunders ” or the “ Corporation ”) (TSX-V: EFV) announced today that Navneet Behl has resigned as a director of the Corporation. EnergyFunders would like to thank Mr. Behl for his dedication and service to the Corporation.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    EF EnergyFunders Ventures, Inc. is an oil and natural gas investment company headquartered in Calgary, Alberta, with executive offices in San Antonio, Texas. The Corporation’s common shares are listed on the TSX Venture Exchange under the trading symbol “EFV” and on the OTC Pink as “EFVIF”.

    For further information please contact:

    Laura Pommer
    Chief Executive Officer
    Email: [email protected]

    Paleo Resources, Inc.

    716 S. Frio St., Suite 201

    San Antonio, Texas 78207

    Telephone: 254-699-0975

    Media Contact:

    Aquila Mendez-Valdez

    [email protected]

    210.606.5251

    Copyright (c) 2022 TheNewswire – All rights reserved.

  • Maritime Resources Provides Update on Annual General Meeting of Shareholders

    Maritime Resources Provides Update on Annual General Meeting of Shareholders

    Toronto, Ontario–(Newsfile Corp. – December 2, 2022) – Maritime Resources Corp. (TSXV: MAE) (“Maritime” or the “Company”) announces its Annual General Meeting (“AGM”) on Thursday, December 8, 2022 will be held at 10:00 am EST at Maritime’s Toronto office at 19th Floor, 110 Yonge Street, Toronto, Ontario.

    In response to the continuing concern regarding the public health impact of influenza, COVID-19 and variants, and to mitigate risks to the health of its shareholders, employees and local communities, Maritime is suggesting that shareholders not to attend the AGM in person.

    Registered shareholders and duly appointed proxy holders may participate in the AGM via a live conference call. Registered shareholders and duly appointed proxy holders who have properly registered prior to the AGM as outlined below will be able to ask questions of management via the conference call at the conclusion of the AGM.

    Shareholders should vote on the matters before the AGM by proxy or voting instruction form prior to the proxy cut-off on Tuesday, December 6, 2022 at 10:00 am EST.

    Joining the AGM

    In order to participate in the AGM, registered shareholders and duly appointed proxy holders must register via the following link prior to the proxy cut-off at 10:00 am EST on Tuesday, December 6, 2022.

    Registration Link: https://pinconnect.conferenceconsole.com/PINConfSH.aspx?b6ec80f7-ed37-4009-9d04-fc63149e4b9d

    After you register, you will be provided with call in details including a Conference ID and your PIN. Please note that phone networks are currently busy, and it is recommended that you attempt to connect at least ten minutes prior to the scheduled start time of the AGM.

    Registered shareholders and duly appointed proxy holders who regard their physical attendance at the AGM as essential are asked to contact Lorna MacGillivray, Corporate Secretary at 416 304-9093 or [email protected] prior to 10:00 am EST on Tuesday, December 6, 2022 so that appropriate measures can be put in place to facilitate physical distancing and other precautions or alternative participation arrangements made to ensure the health of all attendees.

    AGM Materials

    Shareholder materials for the AGM were filed and mailed to shareholders on November 10, 2022, and can be found on Maritime’s website via the following link:

    https://www.maritimeresourcescorp.com/investors/agm/

    About Maritime Resources Corp.

    Maritime holds a 100% interest, directly and subject to option agreements entitling it to earn 100% ownership in the Green Bay Property. This includes the former Hammerdown gold mine and the Orion gold project plus the Whisker Valley exploration project, all located in the Baie Verte Mining District near the town of King’s Point, Newfoundland and Labrador. The Hammerdown Gold Project is characterized by near-vertical, narrow mesothermal quartz veins containing gold associated with pyrite. Hammerdown was last operated by Richmont Mines between 2000 and 2004. The Company also owns the gold circuit at the Nugget Pond metallurgical facility in Newfoundland and Labrador, the Lac Pelletier gold project in Rouyn Noranda, Québec and several other exploration properties in key mining camps across Canada.

    On Behalf of the Board:

    Garett Macdonald, MBA, P.Eng.
    President and CEO
    1900-110 Yonge Street, Toronto, ON M5C 1T4
    Phone: (416) 365-5321
    [email protected]
    www.maritimeresourcescorp.com

    Twitter
    Facebook
    LinkedIn
    YouTube

    Caution Regarding Forward-Looking Statements:

    Certain of the statements made and information contained herein is “forward-looking information” within the meaning of National Instrument 51-102 – Continuous Disclosure Obligations. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects”, “intends”, “indicates” “plans” and similar expressions. Forward-looking statements include statements concerning the low capital intensity and rapid payback of the Project, the exploration upside relating to the Project, the pursuit of mine life extensions, the potential to increase mineral resource and mineral reserve estimates, returns and FCF relating to the Project, capital financing processes relating to the Project, development of the next drill program on the Project, exploration and development of the Orion deposit, “Run of Mine” ore scheduled to be mined from the Project, timing of submission of the Project Development Plan and the Progressive Rehabilitation and Closure Plan for Hammerdown, timing of future site construction, timing to first gold production, length of construction period for the Project, timing of completion of required permitting, timing for approvals to be obtained for the closure and development plans relating to the Project, availability of capital financing, the non-equity portion of any construction capital financing, timing of completion of construction capital financing process, amongst other things, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. All forward-looking statements and forward-looking information are based on reasonable assumptions that have been made by the Company in good faith as at the date of such information. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, base metal concentrates, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the use of ore sorting technology will produce positive results, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, the ability of the Company to continue to be able to access the capital markets for the funding necessary to acquire, maintain and advance exploration properties or business opportunities; global financial conditions, including market reaction to the coronavirus outbreak; competition within the industry to acquire properties of merit or new business opportunities, and competition from other companies possessing greater technical and financial resources; difficulties in advancing towards a development decision at Hammerdown and executing exploration programs at its Newfoundland and Labrador properties on the Company’s proposed schedules and within its cost estimates, whether due to weather conditions, availability or interruption of power supply, mechanical equipment performance problems, natural disasters or pandemics in the areas where it operates; increasingly stringent environmental regulations and other permitting restrictions or maintaining title or other factors related to exploring of its properties, such as the availability of essential supplies and services; factors beyond the capacity of the Company to anticipate and control, such as the marketability of mineral products produced from the Company’s properties; uncertainty as to whether the acquisition of assets and new mineral property interests including the Nugget Pond gold circuit will be completed in the manner currently contemplated by the parties; uncertainty as to whether mineral resources will ever be converted into mineral reserves once economic considerations are applied; uncertainty as to whether inferred mineral resources will be converted to the measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied; government regulations relating to health, safety and the environment, and the scale and scope of royalties and taxes on production; and the availability of experienced contractors and professional staff to perform work in a competitive environment and the resulting adverse impact on costs and performance and other risks and uncertainties, including those described in each MD&A of financial condition and results of operations. In addition, forward-looking information is based on various assumptions including, without limitation, assumptions associated with exploration results and costs and the availability of materials and skilled labour. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, Maritime undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

    Neither TSX Venture Exchange (“TSX-V”) nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146657

  • AJN Resources Inc. Announces Date of 2022 Shareholders’ Meeting and Clarifies Disclosure

    AJN Resources Inc. Announces Date of 2022 Shareholders’ Meeting and Clarifies Disclosure

    Vancouver, British Columbia–(Newsfile Corp. – December 2, 2022) – AJN Resources Inc. (CSE: AJN) (FSE: 5AT) (“AJN” or the “Company”) is pleased to announce that the Company will be holding its 2022 shareholders’ meeting on December 14, 2022. Meeting materials have been mailed to all shareholders as of November 9, 2022, and are available on www.sedar.com under the Company’s profile.

    Further to the Company’s news release of November 30, 2022, the Company clarifies that the Cadastre Minier RDC (DRC Mining Register) (“CAMI”) has now responded to requests for applications from Congo Ressources SAU (“CRS”) and has stated that CRS may request to apply to acquire five gold exploration permits, known as the Wanga Project, which cover 1,694 km2 in the Wanga mining area located circa 30 km to the west of Kibali Gold Mine, and two areas, which cover 785 km2, in the Kilo Belt in the eastern DRC. Applications for DRC exploration permits need to comply with the procedures prescribed by the DRC Mining Code and Regulations, as revised to date.

    The November 30, 2022 news release sets out the descriptions of the projects that are the subjects of requests for applications from CRS. The Wanga Project and the North Kilo Project have been approved for requests for application; however, CRS has not yet applied for them. Certain other projects, which are encroached upon, or which are disputed, or which have been or which are undergoing forfeiture, will need to obtain either the roll-back of a ministerial order, or resolution of the dispute, or a signed ministerial order for withdrawal or forfeiture.

    Mr. Klaus Eckhof, CEO and President of AJN, clarifies his comment in the November 30, 2022 news release to state that the inclusion of the area in the northern portion of the Manono lithium licence in the requests for permits by Congo Ressources will, if granted, advance the DRC’s objective of creating a supply chain of minerals to support the battery industry.

    About AJN Resources Inc.

    AJN is a junior exploration company. AJN’s management and directors possess over 75 years of collective industry experience and have been very successful in the areas of exploration, financing and developing major mines throughout the world, with a focus on Africa, especially the Democratic Republic of the Congo.

    For further information, please contact Investor Relations:

    Sheena Eckhof
    Director, Investor Relations
    [email protected]

    Visit us at www.ajnresources.com
    Tel: +44 7496 291547

    On Behalf of the Board of Directors

    Klaus Eckhof
    CEO and President
    [email protected]

    Cautionary Note Regarding Forward-Looking Statements

    The information in this news release may include certain information and statements about management’s view of future events, expectations, plans and prospects that may constitute forward-looking statements. Forward-looking statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although AJN Resources Inc. believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, AJN Resources Inc. disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146660

  • Altima Closes Second Tranche of $500,000 Equity Financing

    Altima Closes Second Tranche of $500,000 Equity Financing

    Vancouver, British Columbia–(Newsfile Corp. – December 2, 2022) – Altima Resources Ltd. (TSXV: ARH) (“Altima” or the “Company”) announces that on December 2, 2022, it has closed its second tranche (the “Tranche Two“) of its private placement equity financing announced on August 25, 2022 (the “Financing“) for gross proceeds of $195,000. Final acceptance to close Tranche Two is subject to further review and approval by the TSX Venture Exchange.

    In accordance with the provisions of subscription agreements received as at December 2, 2022 the Company will issue a total of 3,900,000 Units at a price of $0.05 per Unit (the “Units”) for gross proceeds of $195,000, each Unit consisting of one common share and one share purchase warrant, each warrant entitling the holder thereof to purchase one additional common share, exercisable for a period of one (1) year from the date of issuance at a price of $0.075 per share on or before December 2, 2023.

    Proceeds of $195,000 from Tranche Two will be used for development of the Company’s oil and gas operations and general working capital.

    An aggregate total of 10,000,000 Units were issued for an aggregate gross proceeds of $500,000 Financing.

    A total of $7,200 cash and 144,000 Compensation Warrants were issued in finders’ fees in connection with this second tranche closing. The Compensation Warrants are exercisable on or before December 2, 2023 into a total of 144,000 shares at $0.075 per share.

    These shares, together with any shares that may be issued on exercise of the warrants and Compensation Warrants will be subject to a hold period under applicable Canadian securities laws expiring on April 2, 2023, and will be subject to such further restrictions on resale as may apply under applicable foreign securities laws.

    ON BEHALF OF THE BOARD

    SIGNED: “Joe DeVries

    Joe DeVries, CEO
    Contact: (604) 336-8610

    The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

    This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES 
    OR FOR DISSEMINATION IN THE UNITED STATES

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146655

  • Palladium One Announces Increase in Brokered Private Placement Financing from C$3 million to C$4.2 million

    Palladium One Announces Increase in Brokered Private Placement Financing from C$3 million to C$4.2 million

    Toronto, Ontario–(Newsfile Corp. – December 2, 2022) – Palladium One Mining Inc. (TSXV: PDM) (OTCQB: NKORF) (FSE: 7N11) (the “Company” or “Palladium One“) is pleased to announce that it has increased the previously announced brokered private placement from $3 million to $4.2 million.

    The Company will issue up to 21,000,000 units on a charity flow-through basis (the “Charity FT Units“) at a price of $0.20 per Charity FT Unit (the “Charity FT Issue Price“) for gross proceeds of up to $4,200,000 (“Offering“). Each Charity FT Unit will consist of one common share of the Company (each, a “Charity FT Share“) and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a “Charity FT Warrant“), and each Charity FT Share and Charity FT Warrant will be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada). Each Charity FT Warrant will entitle the holder thereof to purchase one non flow-through Common Share (a “Warrant Share“) at an exercise price of $0.20 for a period of 36 months from the date of issuance thereof. The Charity FT Units will be offered for sale to purchasers in all the provinces and territories of Canada (other than Québec) in reliance on the listed issuer financing exemption available in Part 5A.2 National Instrument 45-106 – Prospectus Exemptions (“NI 45-106“) and will not be subject to any statutory hold periods.

    The Offering will be led by Echelon Capital Markets (“Echelon”, the “Lead Agent“) and along with Sprott Capital Partners LP and Research Capital Corporation (collectively “Agents“). As compensation, the Agents will be entitled to a cash fee in an amount equal to 6% of the gross proceeds from the Offering. In addition, the Agents will receive non-transferable warrants (the “Broker Warrants“) exercisable at any time prior to the date that is 24 months from the Closing Date to acquire that number of units (each comprised of one common share and one-half of one warrant with an exercise price of $0.20 for a period of 36 months) which is equal to 6.0% of the number of Charity FT Units sold under the Offering at an exercise price equal to $0.14.

    In addition, the Company’s non-brokered flow-through unit financing (“FT Units”) to be issued at unit price (“FT Unit Price”) remains unchanged.

    There is an offering document related to the Offering that can be accessed under the Company’s profile at www.sedar.com and on the Company’s website at www.palladiumoneinc.com. Prospective investors should read this offering document before making an investment decision.

    An amount equal to the gross proceeds from the issuance of the FT Units and Charity FT Units will be used to incur, on the Company’s Canadian mineral exploration properties, Canadian exploration expenses that will qualify as “flow-through mining expenditures”, as defined in subsection 127(9) of the Income Tax Act (Canada) and that will also qualify as “eligible Ontario exploration expenditures” within the meaning of subsection 103(4) of the Taxation Act, 2007 (Ontario) (collectively, the “Qualifying Expenditures“). The Qualifying Expenditures will be incurred on or before December 31, 2023 and will be renounced by the Corporation to the subscribers with an effective date no later than December 31, 2022 to the initial purchasers of the FT Units and Charity FT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Units and Charity FT Units. In the event that the Corporation is unable to renounce the FT Issue Price and Charity FT Issue Price on or prior to December 31, 2022 for each FT Unit and Charity FT Unit purchased and/or if the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Corporation will as sole recourse for such failure to renounce, indemnify each FT Unit and Charity FT Unit subscriber for the additional taxes payable by such subscriber to the extent permitted by the Income Tax Act (Canada) as a result of the Corporation’s failure to renounce the Qualifying Expenditures as agreed.

    The Offering and the Non-Brokered Offering are expected to close on or about December 20, 2022, or such other date or dates as the Company and the Lead Underwriter may agree (the “Closing Date“) and are subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.

    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 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.

    About Palladium One

    Palladium One Mining Inc. (TSXV: PDM) is focused on discovering environmentally and socially conscious Metals for Green Transportation. A Canadian mineral exploration and development company, Palladium One is targeting district scale, platinum-group-element (PGE)-copper-nickel deposits in Canada and Finland. The Läntinen Koillismaa (LK) Project in north-central Finland, is a PGE-copper-nickel project that has existing NI43-101 Mineral Resources, while both the Tyko and Canalask high-grade nickel-copper projects are located in Ontario and the Yukon, Canada, respectively. Follow Palladium One on LinkedIn, Twitter, and at www.palladiumoneinc.com.

    ON BEHALF OF THE BOARD
    “Derrick Weyrauch”
    President & CEO, Director

    For further information contact:
    Derrick Weyrauch, President & CEO
    Email: [email protected]

    NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

    Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

    Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. These forward-looking statements include, but are not limited to, statements relating to the timing ‎and ‎completion of the Offering, the satisfaction and timing of the receipt of required stock ‎exchange ‎approvals and other conditions to closing of the Offering and the intended use of the ‎ proceeds of the ‎ Offering. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

    Not for distribution to United States newswire services or for dissemination in the United States

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146656

  • VPN Technologies to Trade on OTCQB and Appoints Bernard O’Brien as a Director

    VPN Technologies to Trade on OTCQB and Appoints Bernard O’Brien as a Director

    Vancouver, British Columbia–(Newsfile Corp. – December 2, 2022) – VPN Technologies Inc. (CSE: VPN) (OTC Pink: DVPNF) (FSE: 6GQ1) (“VPN Technologies“, or the “Company“), is pleased to announce that effective December 5, 2022, it will commence trading on the OTCQB® under the symbol, “DVPNF”. The Company has chosen to trade on this US marketplace to provide current and future US-based investors with greater access, ease of trading, home country disclosure, current financial disclosures and Real-Time Level 2 quotes on www.otcmarkets.com.

    The Company appointed Burns, Figa and Will, Attorneys, to provide guidance with respect to its eligibility to meet the requirements of the OTCQB® and to advise the Company on its responsibilities for complying with its U.S. disclosure obligations under the Securities Act of 1934 and Rule 12g3-2 promulgated thereunder in connection with the OTCQB® upgrade and the OTCQB® standards for international companies.

    The Company is also pleased to announce the appointment of Bernard O’Brien as a member of the board of directors of the Company, effective December 2, 2022.

    Bernard O’Brien has worked with the cruise lines for 12 years as an Information Systems Fleet Manager. He has a range of experience in the cruise industry across 23 cruise ships with three Fleet Supervisors and 80 Managers.

    Mr. O’Brien has spearheaded the rollout of five new build cruise ships and introduced the Fionet pandemic platform to achieve connectivity, oversight, and real-time intelligence for vessels of all sizes.

    Paul Dickson, President and CEO of VPN Technologies, states: “We are very pleased to have Mr. O’Brien join the board of VPN Technologies as an independent director, Bernard possesses a wealth of knowledge in industrial fleet management and information systems, we look forward to working with him.”

    About VPN Technologies Inc.

    VPN Technologies Inc. is a provider of Virtual Private Network (VPN) services to the retail market and SMEs.

    Greentech Hydrogen Innovations Corp. is a wholly-owned subsidiary of VPN Technologies, a startup energy company formed to identify opportunities in both the science for the purpose of commercialization and the development of products and services addressing the growth in a wide range of long-term hydrogen businesses related to global energy policy objectives and targets.

    To learn more about VPN Technologies, please visit www.vpntech.ca or contact [email protected].

    To learn more about Greentech Hydrogen Innovations, please visit www.greentechhydrogen.ca or contact [email protected].

    On Behalf of the Board,

    Paul Dickson,
    President & CEO

    The CSE has not reviewed, approved, or disapproved the content of this press release.

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146650

  • CalAmp Appoints Tech Finance Veteran, Jikun Kim, as SVP and Chief Financial Officer

    CalAmp Appoints Tech Finance Veteran, Jikun Kim, as SVP and Chief Financial Officer

    IRVINE, Calif., Dec. 02, 2022 (GLOBE NEWSWIRE) — CalAmp (Nasdaq: CAMP), a connected intelligence company that helps people and organizations improve operational performance, today announced that effective January 9, 2023, Jikun Kim, 58, will commence employment as Senior Vice President and Chief Financial Officer of CalAmp Corp. (the “ Company ”). Mr. Kim will serve as principal financial officer and principal accounting officer. Xiaolian (Cindy) Zhang will cease service as Interim Chief Financial Officer, and will continue to serve as Senior Vice President, Financial Planning and Analysis, and Erik Schulz will cease service as Interim Principal Accounting Officer, and will continue to serve as Vice President and Corporate Controller.

    Mr. Kim currently serves as Chief Financial Officer of Momentus, Inc., a Nasdaq-listed space infrastructure company, a position he has held since September 2020. Prior to Momentus, from January 2019 to September 2020, Mr. Kim served as the Chief Financial Officer at Formlabs Inc., a 3D printer company. From June 2016 to December 2019, Mr. Kim served as the Chief Financial Officer at EMCORE Corporation, a Nasdaq-listed company producing advanced semiconductor products, and from February 2015 to June 2016, he served as Chief Financial Officer at Merex Group, a defense and space company,; and from June 2009 to February 2015, Mr. Kim served as Chief Financial Officer at AeroVironment, Inc., a Nasdaq-listed aviation and aerospace technology company. Mr. Kim received an M.B.A. degree from Columbia Business School, an M.S. degree in Electrical Engineering from the University of California at Los Angeles and a B.S. degree in Electrical Engineering from the University of California at Berkeley.

    “Jikun’ s extensive public company experience in technology and his unique combination of engineering and finance expertise made him the ideal candidate,” said Jeff Gardner. “His track record of partnering with his colleagues and his excellent communications skills allowed him to stand out in a very competitive process. I look forward to partnering with him to accelerate our transformation to a growing, profitable telematics SaaS solutions provider.”

    “It’s an exciting time to be joining CalAmp,” said Kim. “The telematics market is dynamic and evolving quickly. Recent challenges with global supply chains have just underscored the important role they play as organizations around the world seek to monitor and track their vital assets in real time. I am happy to be joining CalAmp and contribute to the Company’s growth as it expands the list of organizations around the world using their leading telematics solutions.”

    About CalAmp
    CalAmp (Nasdaq: CAMP ) provides flexible solutions to help organizations worldwide monitor, track and protect their vital assets. Our unique device-enabled software and cloud platform enables over 14,000 commercial and government organizations worldwide to improve efficiency, safety, visibility and compliance while accommodating the unique ways they do business. With over 10 million active edge devices and 275+ approved or pending patents, CalAmp is the telematics leader organizations turn to for innovation and dependability. For more information, visit calamp.com , or LinkedIn , Facebook , Twitter , YouTube or CalAmp Blog .

    CalAmp, LoJack, TRACKER , Here Comes The Bus , Bus Guardian , iOn Vision , CrashBoxx and associated logos are among the trademarks of CalAmp and/or its affiliates in the United States, certain other countries and/or the EU. Spireon acquired the LoJack® U.S. Stolen Vehicle Recovery (SVR) business from CalAmp and holds an exclusive license to the LoJack mark in the United States and Canada. Any other trademarks or trade names mentioned are the property of their respective owners.

    CalAmp Media Inquiries:
    Mark Gaydos
    [email protected]
    +1 415.713.7113

    CalAmp Investor Inquiries :
    Leanne K. Sievers
    Shelton Group
    [email protected]
    +1 949.224.3874


    Primary Logo

  • Innocan Pharma Signs a First Consulting Agreement to Commercialize its Pharmaceutical IP in the Veterinary Field

    Innocan Pharma Signs a First Consulting Agreement to Commercialize its Pharmaceutical IP in the Veterinary Field

    Herzliya, Israel and Calgary, Alberta–(Newsfile Corp. – December 2, 2022) – Innocan Pharma Corporation (CSE: INNO) (FSE: IP4) (OTCQB: INNPF) (the “Company” or “Innocan”), a pharmaceutical technology company focusing on developing innovative drug delivery platform technologies, is pleased to announce that it has signed a consulting agreement with Benitz Consulting LLC (“Benitz Consulting”) to assist the Company’s commercialization of IP in the veterinary field. The principal of Benitz Consulting is Dr. Antonio Benitz, ex Novartis Animal Health and Pharmacia Animal Health VP of R&D. Dr. Benitz also served as a senior executive at Merial and director at Merck.

    The goals of the consulting agreement are for Benitz Consulting to consult on paths of commercialization in the animal health industry; provide Innocan with development plans, regulatory approaches, and study designs for CBD products to be used in animals; manage relationships or participations with CRO’s, third parties, universities or other organizations (including regulatory agencies and potential partners); and present the CBD products to animal pharma companies to create potential cooperation opportunities with such companies.

    “Innocan is now taking first steps into its commercialization era,” said Iris Bincovich CEO of Innocan. “We made a decision to speed our access to the market by pursuing opportunities in the veterinary field, knowing that it will serve as a potential gateway to human pharma. Dr. Benitz is the right person at the right time to help us graduate to the commercialization stage of our company”.

    About Benitz Consulting, LLC

    Benitz Consulting provides advice on technical and scientific matters related to health sciences including animal health for companies and other consulting organizations globally. This includes technology and product opportunity assessments and setting regulatory strategies for development. The company acts as Senior Advisor with Stonehaven Consulting AG and Stonehaven Incubate in Switzerland and is a Member of the Medicom Technologies Inc. Board of Advisers.

    About Innocan

    Innocan is a pharmaceutical technology company that operates under two main segments: Pharmaceuticals and Consumer Wellness. In the Pharmaceuticals segment, Innocan focuses on developing innovative drug delivery platform technologies comprised of cannabinoids science to treat various conditions and improve patients’ quality of life. This segment involves two drug delivery technologies: (i) LPT CBD-loaded liposome platform, which facilitates exact dosing and the prolonged and controlled release of CBD into the blood stream; the LPT delivery platform research is in the preclinical trial phase for two indications: epilepsy and pain management; and (ii) CLX CBD-loaded exosomes platform, which aims to target the central nervous system through regeneration and by addressing inflammation. In the consumer wellness segment, Innocan develops and markets a wide portfolio of innovative self-care products to promote a healthier lifestyle. Under this segment Innocan has established a joint venture by the name of BI Sky Global Ltd., which focuses on developing advanced targeted online sales. www.innocanpharma.com

    For further information, please contact:

    For Innocan Pharma Corporation:
    Iris Bincovich, CEO

    15162104025+

    +972-54-3012842

    +442037699377
    [email protected]

    Dr. Eva Reuter

    Investment Relation- Germany

    +46-69-1532-5857

    [email protected]

    NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    Caution regarding forward-looking information

    Certain information set forth in this news release, including, without limitation, information regarding research and development, collaborations, the filing of potential applications with the FDA and other regulatory authorities, the potential achievement of future regulatory milestones, the potential for treatment of conditions and other therapeutic effects resulting from research activities and/or the Company’s products, requisite regulatory approvals, the timing for market entry and potential commercialization of the Company’s products following the entering into of the consulting agreement, is forward-looking information within the meaning of applicable securities laws. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond Innocan’s control. The forward-looking information contained in this news release is based on certain key expectations and assumptions made by Innocan, including expectations and assumptions concerning the anticipated benefits of the products, satisfaction of regulatory requirements in various jurisdictions and satisfactory completion of requisite production and distribution arrangements.

    Forward-looking information is subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include but are not limited to: general global and local (national) economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; and relationships with suppliers, manufacturers, customers, business partners and competitors. There are also risks that are inherent in the nature of product distribution, including import / export matters and the failure to obtain any required regulatory and other approvals (or to do so in a timely manner) and availability in each market of product inputs and finished products. The anticipated timeline for entry to markets may change for a number of reasons, including the inability to secure necessary regulatory requirements, or the need for additional time to conclude and/or satisfy the manufacturing and distribution arrangements. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release. A comprehensive discussion of other risks that impact Innocan can also be found in Innocan’s public reports and filings which are available under Innocan’s profile at www.sedar.com.

    Readers are cautioned that undue reliance should not be placed on forward-looking information as actual results may vary materially from the forward-looking information. Innocan does not undertake to update, correct or revise any forward-looking information as a result of any new information, future events or otherwise, except as may be required by applicable law.

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146620

  • Pattern Energy Announces Appointment of Hunter Armistead as CEO

    Pattern Energy Announces Appointment of Hunter Armistead as CEO
    Pattern Energy Announces Appointment of Hunter Armistead as CEO

    PR Newswire

    Current CEO Michael Garland to retire and Co-Founder and Chief Development Officer Hunter Armistead to become CEO effective January 1, 2023

    SAN FRANCISCO , Dec. 2, 2022 /PRNewswire/ — Pattern Energy Group LP (Pattern Energy) today announced that Hunter Armistead is to be appointed CEO of the company effective January 1, 2023 , in succession to Michael Garland . Mr. Armistead is presently the company’s Chief Development Officer. Mr. Garland will retire after his successful tenure as CEO of the company and its predecessor entities since 2009.

    Mr. Armistead brings almost 30 years of diverse energy experience including various roles at Conoco-Phillips, Edison Mission Energy, and Babcock & Brown, previous to his time at Pattern.

    “This is an extraordinary time for the renewable energy sector and the entire Pattern team is exceptionally well positioned to deliver on the opportunities ahead. Given his long history as a leader of this company, the strength of his commercial instincts, and his passion for Pattern’s vision, I believe Hunter is uniquely capable of leading this company in a way that provides consistency, continuity and leadership across the business both internally and externally,” said Mike Garland , current CEO of Pattern Energy.

    “It has been a tremendous journey since we founded Pattern in 2009, and it is my honor and privilege to take on the CEO role. Pattern began with a modest pipeline, a few dedicated professionals, and a vision to accelerate the world’s energy transition. To see Pattern and our industry evolve into what we have become has been a beautiful ride and is one that has only just begun. I am 100% committed to driving the next chapter in our growth in a manner that is consistent with our mission, our culture and our values,” said incoming CEO Hunter Armistead .

    Lord John Browne , Chairman of the Board, said “I have seen first-hand Mike Garland’s exceptional leadership of the company since 2009. During his long service he has led Pattern through many successful phases of development. We are most grateful for all he has done. We conducted a thorough search for his successor and concluded that Hunter Armistead was the ideal candidate. He cares deeply for the company’s culture and people and brings great experience and understanding of the company’s business to the role.”

    About Pattern Energy

    Pattern Energy is one of the world’s largest privately-owned developers and operators of wind, solar, transmission, and energy storage projects. Its operational portfolio includes 35 renewable energy facilities that use proven, best-in-class technology with an operating capacity of nearly 6,000 MW in the United States , Canada , Japan , and Mexico . Pattern Energy is guided by a long-term commitment to serve customers, protect the environment, and strengthen communities. For more information, visit patternenergy.com.

    Contacts:

    Matt Dallas
    Pattern Energy
    917-363-1333
    [email protected]

    Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/pattern-energy-announces-appointment-of-hunter-armistead-as-ceo-301692829.html

    SOURCE Pattern Energy Group LP

  • TinyGemsBreaks – Cepton Inc. (NASDAQ: CPTN) Taking Lidar Mainstream, Enabling World’s Leading Automotive Companies to Integrate at Scale

    TinyGemsBreaks – Cepton Inc. (NASDAQ: CPTN) Taking Lidar Mainstream, Enabling World’s Leading Automotive Companies to Integrate at Scale

    Cepton (NASDAQ: CPTN) is a Silicon Valley innovator of lidar-based solutions for autonomous vehicle (“AV”) and advanced driver assistance system (“ADAS”) sectors. “Cepton leads the way in enabling the world’s leading automotive companies to integrate lidar at scale and transition to an increasingly adaptive, safety-centric future. Safety is at the forefront of ADAS/AV technology concerns, and the industry’s success hinges on the availability of perception solutions that accurately identify objects under various conditions… Dr. Jun Pei, CEO and co-founder of Cepton, believes lidar brings unparalleled vehicle perception by ‘seeing’ things in 3D instead of the standard 2D view produced by cameras. By being able to perceive depth, lidar provides additional information critical to maintaining vehicle safety and protecting pedestrians, structures and other objects within the vehicle’s surroundings,” a recent article reads. “Cepton is taking lidar mainstream by engaging with leading global automotive OEMs such as Ford Motor Company to make it a standard safety feature in all vehicles. According to a 2021 article by Ford, CPTN engaged with the company over several years for research, development and small-scale deployments. In addition to delivering custom lidar solutions for R&D on advanced ADAS features, Cepton also helped Ford deploy lidar solutions on select smart city projects.”

    To view the full article, visit https://ibn.fm/EiD4L

    About Cepton Inc.

    Cepton is a Silicon Valley innovator of lidar-based solutions for automotive (“ADAS/AV”), smart cities, smart spaces and smart industrial applications. With its patented lidar technology, Cepton aims to take lidar mainstream and achieve a balanced approach to performance, cost and reliability, while enabling scalable and intelligent 3D perception solutions across industries. Cepton has been awarded a significant ADAS lidar series production award with Koito on the General Motors business. Cepton is also engaged with all top 10 global OEMs. Founded in 2016 and led by industry veterans with decades of collective experience across a wide range of advanced lidar and imaging technologies, Cepton is focused on the mass market commercialization of high-performance, high-quality lidar solutions. Cepton is headquartered in San Jose, California, and has a center of excellence facility in Troy, Michigan, to provide local support to automotive customers in the Metro Detroit area. Cepton also has a presence in Germany, Canada, Japan, India and China to serve a fast-growing global customer base. For more information, visit the company’s website at www.Cepton.com.

    NOTE TO INVESTORS: The latest news and updates relating to CPTN are available in the company’s newsroom at https://ibn.fm/CPTN

    About About TinyGems

    TinyGems is your guide to the best and brightest in the under-appreciated small-cap sector. As one of 50+ brands within the InvestorBrandNetwork (“IBN”), TinyGems provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN to reach millions of social media followers; and (5) a full array of corporate communications solutions. It’s time to uncover some of the best-kept secrets on Wall Street. TinyGems features innovative small-cap companies with huge potential, putting a spotlight on the best and brightest of these disruptors that have the technology, the talent, the drive, and the business models to make a huge impact in the markets and in portfolios. Whether it’s a game changing technology, a new more profitable product or service, or a star in a hot sector, TinyGems is the go-to source for actionable intelligence.

    To receive SMS text alerts from TinyGems, text “Gems” to 844-397-5787 (U.S. Mobile Phones Only)

    For more information, please visit https://www.TinyGems.net

    Please see full terms of use and disclaimers on the TinyGems website applicable to all content provided by TinyGems, wherever published or re-published: https://www.TinyGems.net/Disclaimer

    TinyGems
    Los Angeles, California
    www.TinyGems.net
    310.299.1717 Office
    [email protected]

    TinyGems is part of the InvestorBrandNetwork

  • Aftermath Silver and EMX Royalty Corp Amend Payment Schedule for Berenguela Project Ag-Cu-Mn, Peru

    Aftermath Silver and EMX Royalty Corp Amend Payment Schedule for Berenguela Project Ag-Cu-Mn, Peru

    Vancouver, British Columbia–(Newsfile Corp. – December 2, 2022) – Aftermath Silver Ltd. (TSXV: AAG) (OTCQX: AAGFF) (the “Company” or “Aftermath Silver”) is pleased to provide an update on its Berenguela silver-copper-manganese project in southern Peru (the “Project” or “Berenguela“). The Company has an option (the “Option“) to acquire a 100% interest in the Project through binding agreements with SSR Mining Inc. (“SSR“) (see AAG news release dated October 21, 2020 for further details regarding the original option with SSR) and EMX Royalty Corporation (“EMX“) following EMX’s assumption of certain interests contained in Aftermath’s agreement with SSR. The Project is located in the Department of Puno, in southern central Peru.

    EMX has agreed to defer a US$2.5-million payment due from Aftermath Silver in November 2022 to maintain the Option in good standing for a period of 12 months such that this payment is now due in November 2023.

    In consideration for these deferrals, Aftermath has agreed to pay EMX an additional US$400,000 and will grant EMX a right of first refusal on any royalties that the Company may elect to sell.

    Ralph Rushton, President and CEO of Aftermath commented: “I’d like to thank David Cole and the team at EMX for working with us to adjust the terms of our agreement. Aftermath intends to focus its resources on the technical development of the Berenguela project and I look forward to reporting on progress as we work toward completion of a preliminary economic analysis.”

    EMX’s interest in Berenguela resulted from EMX’s acquisition of a portfolio of royalty interests and payments from SSR and certain of its subsidiaries (see EMX news releases dated July 29 and October 21, 2021). Aftermath Silver’s payment obligations, which arise pursuant to a definitive acquisition agreement, originally executed with SSR totalling US$13-million and other consideration to acquire a 100% interest in the Project, are summarized below (as now amended):

    • The following represent the remaining payments to EMX: US$2.5-million cash to be paid on the second anniversary of the initial closing date (i.e. November 2022) now deferred until November 2023;
    • US$3-million cash to be paid on the fourth anniversary of the initial closing date (i.e. November 2024);
    • US$3.25-million cash to be paid on the sixth anniversary of the initial closing date (i.e. November 2026);
    • A sliding-scale NSR royalty on all mineral production from the Project for the life of mine commencing at the declaration of commercial production, and based on the following:
      • 1.0% NSR royalty on all mineral production when the silver market price is up to and including US$25 per ounce;
      • 1.25% NSR royalty on all mineral production when the silver market price is over US$25 per ounce and when the copper market price is above US$2 per pound.

    Adoption of New Option Plan

    The Company also wishes to report that it has adopted, and the TSX Venture Exchange has approved, a 10% fixed stock option plan (the “Plan“) that will allow the Company to grant up to 17,117,174 stock options to eligible participants under the Plan. The Plan is the only security based compensation plan of the Company currently in place.

    Qualified person

    Michael Parker, a fellow of the AusIMM and a non-independent director of Aftermath, is a non-independent qualified person, as defined by National Instrument 43-101. Mr. Parker has reviewed the technical content of this news release and consents to the information provided in the form and context in which it appears.

    About EMX Royalty Corp.

    EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development and commodity price optionality, while limiting exposure to risks inherent to operating companies. The company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol EMX, as well as on the Frankfurt exchange under the symbol 6E9

    About Aftermath Silver Ltd.

    Aftermath Silver is a leading Canadian junior exploration company focused on silver and aims to deliver shareholder value through the discovery, acquisition and development of quality silver projects in stable jurisdictions. Aftermath has developed a pipeline of projects at various stages of advancement. The company’s projects have been selected based on growth and development potential.

    ON BEHALF OF THE BOARD OF DIRECTORS
    Ralph Rushton”
    Ralph Rushton
    CEO and Director
    604-484-7855

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Cautionary Note Regarding Forward-Looking Information

    Certain of the statements and information in this news release constitute “forward-looking information” within the meaning of applicable Canadian provincial securities laws. Any statements or information that express or involve discussions with respect to interpretation of exploration programs and drill results, predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that such forward-looking information is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances as of the date of this news release including, without limitation, that the Company will be able to meet its revised obligations under the Option; that general business and economic conditions will not change in a material adverse manner; and assumptions regarding political and regulatory stability and stability in financial and capital markets.

    These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking statements. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward‐looking statements. Factors that could cause actual results to differ materially from those in forward‐looking statements include, but are not limited to, changes in commodities prices; changes in expected mineral production performance; unexpected increases in capital costs; exploitation and exploration results; continued availability of capital and financing; and general economic, market or business conditions. In addition, forward‐looking statements are subject to various risks, including but not limited to operational risk; political risk; currency risk; capital cost inflation risk; that data is incomplete or inaccurate. The reader is referred to the Company’s filings with the Canadian securities regulators for disclosure regarding these and other risk factors, accessible through Aftermath Silver’s profile at www.sedar.com.

    There is no certainty that any forward‐looking statement will come to pass and investors should not place undue reliance upon forward‐looking statements. The Company does not undertake to provide updates to any of the forward‐looking statements in this release, except as required by law.

    Cautionary Note to US Investors – Mineral Resources

    This News Release has been prepared in accordance with the requirements of NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards, which differ from the requirements of U.S. securities laws. NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Canadian public disclosure standards, including NI 43-101, differ significantly from the requirements of the United States Securities and Exchange Commission, and information concerning mineralization, deposits, mineral reserve and resource information contained or referred to herein may not be comparable to similar information disclosed by U.S. companies.

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146644

  • Minister Alghabra Announces Canada’s Green Freight Program and ZEV Awareness Initiative

    Minister Alghabra Announces Canada’s Green Freight Program and ZEV Awareness Initiative

    Canada NewsWire

    MISSISSAUGA, ON , Dec. 2, 2022 /CNW/ – Investing in technology is good not only for the environment, but also for the economy. And creating a prosperous net-zero future includes transforming transportation technologies. Freight transportation is critical to the Canadian economy yet currently accounts for over 10 percent of Canada’s overall climate-warming emissions. That is why the Government of Canada is investing in initiatives that build a low-emissions transportation sector and help companies thrive in a decarbonized industry while creating healthier, affordable, more sustainable communities for future generations.

    Today, the Minister of Transport, the Honourable Omar Alghabra , on behalf of the Minister of Natural Resources, the Honourable Jonathan Wilkinson , launched two upcoming calls for proposals to help decarbonize the medium- and heavy-duty vehicle sector, which includes delivery vans, buses and certain long-haul freight trucks.

    Canada’s Green Freight Program

    From 2018 to 2022, Natural Resources Canada administered the Green Freight Assessment Program (GFAP), investing $3.4 million to support freight companies in decarbonizing their operations. Building on this momentum, the GFAP was recapitalized through Budget 2022 and renamed as the Green Freight Program. The investment will help fleets reduce their fuel consumption and GHG emissions from on-road freight through fleet energy assessments, fleet retrofits, engine repowers, best-practice implementation and the purchase of low-carbon vehicles.

    The first call will seek project proposals under the nearly $200-million Green Freight Program to help fleets reduce their fuel consumption and GHG emissions. Successful applicants could each receive grants of up to $250,000 toward fleet assessments and retrofits.

    ZEV Awareness Initiative — Medium- and Heavy-Duty Stream

    The second call for proposals will focus on awareness and education projects through the Zero-Emission Vehicle Awareness Initiative’s (ZEVAI) new medium- and heavy-duty stream. This expansion of the Awareness Initiative will support outreach, education and capacity-building projects related to low-emission and zero-emission medium- and heavy-duty vehicles (MHDV). By addressing low levels of awareness and confidence among businesses and fleet owners, ZEVAI projects will support more widespread adoption of these vehicles, further driving the decarbonization of the MHDV sector across the country.

    Both calls for proposals will be open to applicants on December 12 on Natural Resources Canada’s website . These investments will help drivers save money at the pump while contributing to Canada’s fight against climate change.

    Through these new initiatives, the federal government is helping businesses save money, reduce pollution and decarbonize the fleet of today as they prepare for the adoption of the zero-emission vehicles of the future.

    Quotes

    “Today, I joined truckers in Mississauga to announce Canada’s Green Freight Program, which will help support the trucking industry on the road to a net-zero future. By investing in fleet-wide solutions, the Government of Canada is supporting truckers in reducing emissions while maintaining our vital supply chains and getting Canadians the products they need on time. I also announced that the ZEV Awareness Initiative is being expanded to include medium- and heavy-duty vehicles. Whether they are consumers or truck drivers, folks across Canada are making the switch to cleaner options that also save them money at the pump.”

    The Honourable Omar Alghabra
    Minister of Transport

    Canada is making strides on reducing emissions from transportation as part of our efforts to build a prosperous net-zero economy. This month, we are launching calls for proposals for the Green Freight Program and the expanded ZEV Awareness Initiative. This is how we are making progress on greening our commercial fleets as Canadian drivers access sustainable options to save money on gas while reducing emissions.”

    The Honourable Jonathan Wilkinson
    Minister of Natural Resources

    “The trucking industry is a vital source of good jobs in Mississauga and across Canada . By supporting truckers in retrofitting their fleets to ZEVs, our federal government is supporting a bright future in this industry. Today’s announcement will ensure that the people who keep our supply chain running are also at the forefront of our fight for a sustainable future for generations to come.”

    Rechie Valdez
    Member of Parliament for Mississauga–Streetsville

    Quick facts

    • These programs build on Minister Alghabra’s announcement of the Incentive for Medium- and Heavy-Duty Zero-Emission Vehicles (iMHZEV) Program in July. This incentive reduces emissions by helping businesses and communities across the country make the switch to zero-emission vehicles.
    • Transportation accounts for 25 percent of total greenhouse gas emissions in Canada .
    • Medium- and heavy-duty vehicles are those weighing more than 8,500 lbs., including large pickup trucks, delivery vans, refuse trucks, buses and long-haul freight trucks (Class 2B to 8).
    • Transport Canada’s iMHZEV Program is expected to result in annual greenhouse gas emission reductions of up to 200,000 tonnes per year in 2026, growing to 3 million tonnes per year by 2030.
    • Fifty-eight percent of Canadians have never ridden in or driven an EV, but 79 percent would be interested in taking a ZEV for a test drive.
    • By 2040, 100 percent of medium- and heavy-duty vehicles sold in Canada will be ZEVs, where feasible.
    • To date, over 150,000 Canadians and Canadian businesses have taken advantage of federal incentives to purchase a zero-emission vehicle.
    • Since 2016, Canada has invested over $1 billion to make electric vehicles (EVs) more affordable and chargers more accessible for Canadians. These investments are supporting the establishment of a coast-to-coast network of chargers in local areas where Canadians live, work and play, while federal rebates of up to $5,000 are helping more Canadians make the switch to an EV.

    Related Information

    Follow us on Twitter: @NRCan ( )

    SOURCE Natural Resources Canada

    Cision View original content: http://www.newswire.ca/en/releases/archive/December2022/02/c5785.html

  • Valdor Enters Into Binding Letter of Intent With 1000175307 Ontario Ltd. for Merger Transaction

    Valdor Enters Into Binding Letter of Intent With 1000175307 Ontario Ltd. for Merger Transaction

    VANCOUVER, British Columbia, Dec. 02, 2022 (GLOBE NEWSWIRE) — Valdor Technology International Inc. (“Valdor” or the “Company”) (CSE: VTI) is pleased to announce that it has entered into a binding letter of intent (the “LOI”) dated December 1, 2022 with 1000175307 Ontario Ltd. (“1000175307”) which contemplates the acquisition by Valdor of all of the issued and outstanding common shares of 1000175307 (the “Transaction”) from the shareholders of 1000175307. 1000175307 is party to a letter of intent that contemplates a transaction pursuant to which 1000175307 may have the option to acquire a 90% interest in and to mining rights located in South America.

    As consideration under the Transaction, Valdor will issue an aggregate of 72,000,000 common shares in the capital of Valdor (the “Consideration Shares”) at a deemed price of $0.10 per share, representing aggregate consideration of $7,200,000. In addition to any hold periods or escrow provisions imposed under applicable securities laws or stock exchange policies, it is expected that Consideration Shares will be subject to voluntary hold periods on substantially the following terms: 50% of the Consideration Shares shall be subject to a voluntary six month hold period following closing of the Transaction (the “Closing”); and the remaining 50% of the Consideration Shares shall be subject to a voluntary 12 month hold period following Closing.

    In connection with the Transaction, Valdor intends to conduct a private placement financing (the “Private Placement”) for aggregate gross proceeds of no less than $2,500,000 consisting of either (i) common shares in the capital of Valdor (each, a “Share”); or (ii) units (each, a “Unit”) with each Unit being comprised of one Share and one Share purchase warrant (the “Warrants”), with each Warrant exercisable for one Share at a price of $0.50 per Warrant for a period of 2 years following closing of the Private Placement. The price per Unit or Share, as applicable, is expected to be no less than $0.10 per Share or Unit. The Company will determine, in the context of the market, if the Private Placement will consist of Shares or Units.

    In addition and in connection with the Transaction, Valdor expects to provide a “line of credit” loan (the “Loan”) to 1000175307 for up to $100,000 to contribute to general working capital. The Loan is expected to be secured against 1000175307, is expected to bear interest at 10% per annum, and is expected to be repayable within 30 days of termination of the LOI or the definitive agreement respecting the Transaction, for any reason.

    The LOI contemplates that the parties will draft, finalize and execute a definitive agreement respecting the Transaction within 60 days. The Transaction and the entering into of a definitive agreement are subject to mutual due diligence investigations. The Company may pay a finder’s fee in connection with the Transaction. The Company expects to provide an update respecting the Transaction, the Private Placement and the status of the definitive agreement in due course.

    The Transaction is expected to be a “fundamental change” of Valdor pursuant to the policies of the Canadian Securities Exchange (“CSE”), requiring approval from the CSE and approval of the Valdor shareholders.

    ABOUT VALDOR

    Valdor Technology International Inc. has an operating subsidiary company, Valdor Fiber Optics, Inc., headquartered near San Francisco, California which assembles optical fiber components and specializes in the design, manufacture and sale of passive fiber optic equipment.

    ON BEHALF OF THE BOARD OF DIRECTORS OF
    VALDOR TECHNOLOGY INTERNATIONAL INC.

    Lucas Russell
    President & CEO
    604-687-3775

    Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding the Transaction, the Private Placement (including the type of security to be offered pursuant to the Private Placement), the Loan, statements regarding 1000175307, the Transaction constituting a “fundamental change” pursuant to relevant CSE rules, the terms of any definitive agreements relating to the Transaction, anticipated timelines relating to the Transaction, Private Placement, Loan, future financial position, business strategy, use of proceeds from the Private Placement and Loan, corporate vision, proposed acquisitions, partnerships, joint- ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Certain material assumptions regarding such forward-looking statements may be discussed in this news release and the Company’s annual and quarterly management’s discussion and analysis filed at www.sedar.com . Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

    No securities regulatory authority has either approved or disapproved of the contents of this news release.

    Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this news release. The CSE has not, in any way, passed upon the merits of the Transaction and associated transactions and has not, in any way, approved or disapproved of the contents of this news release.

    Not intended for distribution to United States Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of United States Securities laws.



    Primary Logo

Back to top button