Calvin Cheng's Damoon Technologies has obtained membership status from the Swiss Financial Services Standard Association (‘VQF'), which is officially recognised by the Federal Financial Market Supervisory Authority (‘FINMA')This comes on the back of Cheng's Web3 Company obtaining the Virtual Asset License from the Dubai Virtual Asset Regulatory Authority (VARA)Damoon will offer crypto-fiat-crypto payment services, as well as a digital assets custodianZURICH, SWITZERLAND, Feb 10, 2023 - (ACN Newswire via SEAPRWire.com) - Singapore investor and former parliamentarian Calvin Cheng's Swiss company, Damoon Technologies (‘Damoon') has been granted membership in the Swiss VQF, joining the ranks of some of the world's leading digital assets businesses.The latest development officially opens the door for Damoon to establish a presence in Switzerland. Thedigital assets company is building a platform for users to engage in crypto- to-fiat payments and vice versa, as well as a digital assets custody service.VQF is the largest and oldest cross-industry Self-Regulatory Organisation (SRO) in the country and is officially recognised by FINMA, Switzerland's financial services watchdog.Damoon must now comply with Swiss anti-money laundering (AML) regulations. Thanks to this, the company is in a unique position to work with demanding clients and offer them a place that provides efficiency, security and regulatory clarity.Calvin Cheng commented, "I believe in the future of digital assets, but this has to be done in accordance with traditional finance's compliance standards. Switzerland is the pre- eminent global financial hub, and is the ideal place to base crypto-fiat-crypto financial services, as well as a trusted custodian."Recently, Damoon has also joined the Crypto Valley Association in Zug. "Crypto Valley Association are excited to welcome Damoon Technology and Mr. Calvin Cheng as members," said a spokesperson for the organization.Currently, Damoon is in the process of building its compliance and operational team in Zurich and Zug, Switzerland. The company expects to start operations by the end of Q2 2023.Earlier in 2022, Cheng's Web3 Holdings FZE was awarded the coveted provisional Virtual Asset License by VARA in Dubai, United Arab Emirates. The license granted similarly promotes greater customer assurance and risk protection.About Calvin ChengCalvin Cheng is currently the Chairman of Australia Stock Exchange (ASX) listed EdTech firm ReTechTechnology Co, which he led to an Initial Public Offering, together with leading investors from China.ReTech's shareholders include several co-founders of Alibaba, as well as founders of other leading Chinese tech companies.Cheng was a former appointed Member of Singapore's Parliament and a Young Global Leader of the World Economic Forum. He is also the Republic of Serbia's first Honorary Consul to the Republic of Singapore.For media inquiries and interview requests, please contact:Tang Hong Ee (Financial PR) (T) 6438-2990(E) hongee@financialpr.com.sg Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
Singapore, Feb 3, 2023 - (ACN Newswire via SEAPRWire.com) - ION Mobility (ION) today announced new investments of US$18.7 million in its Series A funding round. Additionally, the company also brings TVS Motor Company on board as its strategic investor, through TVS Motor's Singapore subsidiary, TVS Motor (Singapore). As part of this investment agreement, TVS Motor will provide ION with the necessary ecosystem support to be successful in the electric two-wheeler markets of Singapore and Indonesia.ION's latest fundraise and partnership with TVS Motor is to support its vision to build Southeast Asia's leading electric mobility solutions company starting with Indonesia. Other investors include AC Ventures Malaysia, Michael Sampoerna and ION's Chief Manufacturing Officer Ng Ho Sen, with existing investors such as TNB Aura, Quest Ventures, Monk's Hill Ventures, Village Global, GDP Venture and Seeds Capital also participating in the round.Founder and CEO James Chan said, "I am delighted with the vote of confidence that my team and I have received from TVS Motor via our funding round and partnership. We are excited to draw upon TVS Motor's decades of global expertise in two-wheelers to accelerate our "Mobius" M1-S production readiness, as well as the design and development of other models. We look forward to leading the charge towards an electric and sustainable two-wheeler future together."This new funding round brings the total capital raised by ION to over US$25.5 million since 2020. The company will invest the capital into Indonesia to grow its local team, operations and capabilities. This includes its sales and marketing presence, local supply chain networks, production tooling and manufacturing capabilities in Indonesia, in order to achieve at least 50% local content.Speaking on the occasion, Mr. Sudarshan Venu, Manging Director, TVS Motor Company said, "TVS Motor is committed to developing exciting products for consumers across global markets. We are thrilled to partner with ION Mobility, a full-stack EV company with a strong team of engineers and technical base in Singapore, to drive the premium electric two-wheeler growth in the region. We share a common vision and are eager to support them as a strategic investor."This announcement comes on the heels of ION Mobility's launch of its M1-S electric scooter in Jakarta in November 2022, which also saw the company sign a broad-ranging Memorandum of Understanding (MOU) with Indonesia's national grid operator PT Perusahaan Listrik Negara (PLN) to expand PLN's charging network, in addition to two-wheeler fast-charging technology research and user outreach and education. The MoU was officiated by Indonesian Minister of Industry, Agus Gumiwang Kartasasmita at the Indonesia Motorcycle Show 2022, with Singapore Ambassador to Indonesia Mr. Kwok Fook Seng also in attendance.About ION MobilityION Mobility is a tech and automotive OEM on a mission to create and deliver aspirational and sustainable mobility and energy solutions for everyone. They are committed to creating great products and seamless user experiences for their customers. Their products combine advanced hardware and software technology with human-centred design to deliver smart electric motorbikes and energy charging and storage solutions that are for everyone to use. Their vision is to be Southeast Asia's top technology company leading their region's transition towards a low-carbon economy across Southeast Asia, starting with the ION M1-S. For more information, please visit www.ionmobility.com and ionmobility.substack.com.For more information, please contact: hello@ionmobility.comAbout TVS Motor CompanyTVS Motor Company is a reputed two and three-wheeler manufacturer globally, championing progress through Sustainable Mobility with four state-of-the-art manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. Rooted in their 100-year legacy of Trust, Value, and Passion for Customers and Exactness, they take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. They are the only two-wheeler company to have received the prestigious Deming Prize. Their products lead in their respective categories in the J.D. Power IQS and APEAL surveys. They have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years. Their group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Their subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which they operate. For more information, please visit www.tvsmotor.com.For more information, please contact:KS Harini – ks.harini@tvsmotor.comNikita Verma – nikita.verma@tvsmotor.com Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
Singapore, Jan 21, 2023 - (ACN Newswire via SEAPRWire.com) - Sir Ralf Speth, Chairman of TVS Motor Company, has been conferred with an Honorary Doctorate in the field of Science (Doctor of Science, honoris causa) from the University of Warwick, United Kingdom. The honorary degree was conferred by the University of Warwick Chancellor Baroness Catherine Ashton of Upholland. TVS Motor Company's Chairman Sir Ralf Speth conferred with University of Warwick's Honorary Doctorate.Sir Ralf is accompanied by the University of Warwick Chancellor Baroness Catherine Ashton of Upholland who conferred the degree.Sir Ralf is a Fellow of the Royal Academy of Engineering, and a Fellow of the Royal Society. An honorary professor at Warwick Manufacturing Group (WMG), he has been closely associated with WMG ever since obtaining his engineering doctorate in 2008, under the pioneering leadership of former WMG Chairman, Lord Bhattacharyya. An outstanding engineer with a vast experience in the global automotive industry, Sir Ralf has held leadership roles with some of the renowned automotive and industrial giants such as Jaguar Land Rover, BMW, Ford, Tata Motors, and The Linde Group. He was appointed Honorary Knight Commander of the British Empire and an Additional Knight Commander of the Most Excellent Order of the British Empire.Commenting on the honour, Venu Srinivasan, Chairman Emeritus, TVS Motor Company, said, "My heartiest congratulations to Ralf for this well-deserved recognition. Over his distinguished career in automotive and industrials of more than four decades, he has built world class products and brands. He has been relentlessly working towards transforming the industry with his passion for technology and strive for excellence. This honour is a testament to his leadership, vision, and dedication to the industry, and we are privileged to have him lead TVS Motor Company in its transformational journey."Sudarshan Venu, MD, TVS Motor Company, said, "Sir Ralf's exemplary leadership skills, tremendous vision for the industry, and discerning approach towards technology make him unique. His energy and passion is inspiring. We are proud to have him amongst us. We wish him many more accolades recognising his immense contributions to the industry."Sir Ralf has a degree in engineering from the University of Applied Sciences Rosenheim, Germany, and a doctorate of engineering in Mechanical Engineering and Business Administration at the University of Warwick.About TVS Motor CompanyTVS Motor Company is a reputed two and three-wheeler manufacturer globally, championing progress through Sustainable Mobility with four state-of-the-art manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. We are the only two-wheeler company to have received the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years. Our group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate.For more information, please visit www.tvsmotor.com. For more information, please contact:Priyanka Kumar Priyanka.kumar@tvsmotor.com Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
Hong Kong, PRC, Jan 5, 2023 - (ACN Newswire via SEAPRWire.com) - China South City Holdings Limited (the "Company" or the "Group", SEHK stock code: 1668.HK) is pleased to announce that China South International, a direct wholly-owned subsidiary of the Company, has entered into an investment agreement with Shenzhen Shenji No.1 Industrial Park Investment and Operation Co., Ltd. under Shenzhen SEZ Construction and Development Group Co., Ltd. ("SZCDG"), pursuant to which the latter has agreed to subscribe for 69.35% new shares of "China South City Xi'an" at a cash consideration of RMB5 billion (equivalent to approximately HK$5.58 billion). Upon completion of the transaction, the Group's shareholding in "China South City Xi'an" will be reduced from 100% to 30.65% and "China South City Xi'an" will cease to be a subsidiary of the Group and the transaction is subject to the approval of the independent shareholders of China South City. RMB2.86 billion of the subscription proceeds from this transaction will be used to repay the Group's shareholder loans, which will provide additional working capital for the Group, reduce the Group's gearing ratio and significantly improve its liquidity. The signing of this investment agreement marks another step forward in the cooperation between the Company and SZCDG, and represents SZCDG's strong support for the Group's operation and development. the consideration of the transaction approximates the carrying value of the net assets of China South City Xi'an as of 30 September 2022, which fully demonstrates SZCDG's high recognition of the Group's asset value and future development.As disclosed in the announcement of the Company, China South City Xi'an is principally engaged in development and operation of integrated logistics and trade centres, and is located at the Xi'an international trade and logistics park, which is an open economic pilot zone and a core area for modern service industry established with strong support from the Xi'an government. China South City Xi'an has a total planned land area of approximately 10.00 million sq. m. and the total planned GFA of approximately 17.50 million sq. m. As of 30 September 2022, China South City Xi'an has acquired land with a total planned GFA of approximately 4.17 million sq. m. and has completed the construction of approximately 2.41 million sq. m., including a commodity trading centre, a logistics park and other ancillary facilities. In addition, business operation in China South City Xi'an covers various industries, including hardware materials and machinery products, curtains and fabrics, textile and clothing, leather and fur, automobile and motorcycle parts, building and decoration materials, 1668 New Times Square, outlets, crossborder e-commerce, Central Asia and ASEAN product exhibition centre, etc., on its trade centre premises, of which the commercial complex, 1668 New Times Square, was included in Shaanxi Provincial Key Project in 2019 and 2020.During the year, SZCDG fully leveraged its strategic leadership role as a state-owned enterprise in various aspects to facilitate the Group's long-term and stable development. Firstly, in terms of senior management appointments, Mr. Li Wenxiong, chairman of SZCDG, was appointed as Co-Chairman and Non-Executive Director of the Group, while Mr. Wan Hongtao and Mr. Qin Wenzhong were appointed as the Group's Vice president and the Group's Chief Financial Officer respectively, and were also appointed as executive directors, thereby continuously strengthening the Group's senior management team. In addition, SZCDG continued to provide financial support to the Company during the year to improve the Company's operations and improve its liquidity. In May 2022, the subscription by SZCDG was officially completed, whereby the Company issued and allotted 3.35 billion new shares to SZCDG under the special mandate and subscription agreement and received total proceeds of HK$1,909.5 million, significantly improving the Company's overall capital and financial strength while welcoming a state-owned background. In July 2022, the Group entered into an agreement with SZCDG for the transfer of 50% equity interest in First Asia Pacific Group Company Limited at a consideration of RMB1,257 million; in the same month, SZCDG supported the extension of the terms of five offshore US dollat senior notes of the Company by way of keepwell agreement. In November 2022, subsidiaries of SZCDG have taken the lead in setting up an equity investment fund with a total size of approximately RMB11 billion and coordinated with the Group to work closely with relevant banks to promote the formation of a syndicated loan, thus providing another strong financial support for the Group's future growth, and the China South City Xi'an transaction is the first step under this plan.In terms of business, with the investment by SZCDG, the Company has entered into strategic cooperation with seven major enterprises, including a strategic cooperation agreement with Pengcheng Smart Sharing Technology (Shenzhen) Co., Ltd. and Shenzhen Planning Institute under SZCDG. In addition, as recommended by SZCDG, China South City reached a cooperation agreement with Shenzhen International Holdings to effectively revitalize its assets and further strengthen its cash flow by transferring its Qianlong Logistics' two high-standard logistics and warehousing projects in Zhengzhou and Hefei. By taking a series of proactive measures, China South City reduced its gearing ratio to 63.8% and recorded a net asset value of approximately HK$3.71 per share.About China South CityChina South City Holdings Limited ("China South City", stock code: 1668.HK) is a leading developer and operator of large-scale integrated logistics and trade centres in China, and has positioned itself to be "world-class integrated trade and logistics centre, digital centre, innovation centre and living centre".As an industry leader, China South City insists on serving the nation by promoting the transformation and upgrading of regional economy and new urbanisation, and has developed a diversified and flexible business model with core business formats covering professional wholesale markets, warehousing, logistics and distribution, integrated commercial, e-commerce, convention and exhibition, daily life facilities and integrated property management, etc. It has developed and operated projects in Shenzhen, Nanning, Nanchang, Xi'an, Harbin, Zhengzhou, Hefei and Chongqing. China South City has a core subsidiary, the Business Management Division, as well as various branded professional companies such as Huasheng Commercial, China South City Logistics Group, First Asia Pacific Property Management ( associated company), China South City Micro-credit and Huacaitong Digital Technology.In 2014, Tencent Holdings Limited invested in China South City, and the two parties used their respective resource advantages to start new exploration of China South City's business model; in 2022, SZCDG became the single largest shareholder of China South City, bringing the resource advantages of state-owned enterprises to China South City to start a new chapter of high-quality integrated development. For more information, please visit the Company's website at http://www.chinasouthcity.com/ Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
Vancouver, BC, Jan 4, 2023 - (ACN Newswire via SEAPRWire.com) - Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: A1W038) (the "Company" or "Doubleview") is pleased to announce that it has appointed Red Cloud Securities Inc. and Red Cloud Financial Services Inc. (together "Red Cloud") to provide the Company with a range of corporate advisory services. Red Cloud is a Toronto-based financial services company that provides assistance to mineral exploration and mining companies in accessing capital markets and enhancing their corporate profile.Under the engagement, Red Cloud will be paid a fee of $10,000 per month for the services it will render starting January 1, 2023 and for an initial six-month period and the arrangement can automatically renew month-to-month thereafter at the option of the Company. More specifically, Red Cloud will provide services such as organizing and administering "roadshows", drafting traditional marketing materials, managing Doubleview's social media and providing traditional media support and assistant in the creating of video content for exclusive use on "Red Cloud TV" and other services as required by the Company. In certain circumstances additional services may be provided to the Company by Red Cloud and an additional contingent consideration for such services may be applicable. The engagement of Red Cloud is subject to TSX Venture Approval. Red Cloud has no direct relationship with the Company, other than as contemplated in the current agreement."Doubleview has entered a new horizon in its growth that must now reach out to higher grounds in the mining exploration arena. With the strategic metals and unique new North American financial spectrum, we need professionals in this environment to bolster our growth. I am sure that Red Cloud's unique and robust experience in the strategic metals and mining markets will open new doors for Doubleview," stated Farshad Shirvani, President and CEO.About Doubleview Gold CorpDoubleview Gold Corp., a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada, and is publicly traded on the TSX-Venture Exchange (TSXV: DBG), (OTCQB: DBLVF), (FSE: A1W038), (FSE: 1D4). Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. The Company's portfolio of strategic properties provides diversification and mitigates investment risk.On behalf of the Board of Directors,Farshad Shirvani, President & Chief Executive OfficerFor further information please contact:Doubleview Gold CorpVancouver, BC Farshad ShirvaniPresident & CEOT: (604) 678-9587E: corporate@doubleview.caNEITHER 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.Certain of the statements made and information contained herein may constitute "forward-looking information." In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise. Copyright 2023 ACN Newswire. All rights reserved. (via SEAPRWire)
New York, NY, January 01, 2023 – (SEAPRWire) – On a path to solve critical inefficiencies in the field of traditional financial lending and borrowing, Credefi has achieved a major milestone in its partnership with the TradFi behemoth Experian. Credefi has managed to secure the rights to use Experian’s officially recognized and reputable brand materials to now position itself as “Credefi – Powered by Experian.” In doing so, the team has become the first in the blockchain industry to secure a partnership of this proportion. Experian is one of the two largest credit bureaus in the world. The company collects and researches credit information of individuals and also rates their ability to repay debt. It’s a publicly-traded company with thousands of employees and offices around the world, harboring a total market capitalization upwards of $27 billion. The above hints at the massive importance of this partnership and the trust and transparency it invokes in Credefi. The collaboration is aimed at further expanding Credefi’s reach and access to institutional-grade clients and formalizes both companies’ bilateral cooperation. It also highlights the highest of standards that the team sets out to maintain when it comes to the quality of its service, but also the safety and security of its users. Both companies are working to better the open banking system and integrate comprehensive FinTech APIs. The partnership makes it very easy and frictionless to check and adjust Credefi’s scoring, but it’s also important for Experian. As part of the Green Deal of the European Union, Credefi becomes the official Experian partner and mediator for providing the service of Green Company scoring to each of the firms that apply for a loan through their platform. For context, the Green Deal is aimed at improving the overall health and well-being of EU citizens and their future generations. To do so, the framework sets forth the groundwork for fresher air, cleaner water, healthier soil and biodiversity, more energy efficient buildings, healthier and more affordable food, and so forth. Understanding the importance of compliance and also being fully present, Credefi’s partnership with Experian is aimed at upholding the high standards laid out in the framework. About Credefi Credefi is a reliable provider of decentralized and secured lending portfolios. The company maintains a bespoke approach to compliance, transparency, and security. Its goals are to protect lenders and borrowers from the volatile nature of the cryptocurrency market by delivering fixed returns. About Experian Experian is a multi-billion dollar publicly-traded company dealing with credit scoring and rates. It’s the second-largest credit bureau in the entire world and offers data and analytical tools to companies in over 65 countries. Social Links Twitter: https://twitter.com/credefi_finance Instagram: https://www.instagram.com/credefi_finance/ YouTube: https://www.youtube.com/channel/UCm7pNNokKcI7c87FxBCPElA Discord: https://discord.com/invite/SWCYpE2xVq Medium: https://medium.com/@credefi Telegram: https://t.me/credefi Media contact Brand: Credefi Finance Contact: Ivo Grigorov Website: credefi.finance SOURCE: Credefi Finance The article is provided by a third-party content provider. SEAPRWire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith. Any questions, please contact cs/at/SEAPRWire.com Sectors: Top Story, Daily News SEA PRWire: PR distribution in Southeast Asia (Hong Kong: AsiaExcite, EastMud; AsiaEase; Singapore: SEAChronicle, VOASG; NetDace; Thailand: SEAsiabiz, AccessTH; Indonesia: SEATribune, DailyBerita; Philippines: SEATickers, PHNotes; Malaysia: SEANewswire, KULPR; Vietnam: SEANewsDesk, PostVN)
TORONTO, ON, Dec 21, 2022 - (ACN Newswire via SEAPRWire.com) - Belgravia Hartford Capital Inc. (CSE: BLGV) ("Belgravia Hartford", "Belgravia" or the "Company") provides a shareholder status update on its litigation with Zonetail Inc. (TSXV: ZONE) ("Zonetail").Belgravia and Zonetail are currently engaged in litigation which Zonetail launched in December 2019, the litigation is related to their prior commercial relationship.Background Summary1. Prior to becoming a publicly listed company, Zonetail solicited Belgravia to purchase its shares through private placement transactions in an effort to build working capital, and in part, to complete its going public transaction;2. From February 2018 to November 2018 Belgravia invested $876,600 in Zonetail common shares at an average cost price of $0.1885/common share (the "Zonetail Share Cost Price");3. Additionally, on July 26, 2018, at the repeated request of Zonetail, Belgravia, in good faith, agreed to loan Zonetail $325,000 (the "Loan") and issued a promissory note in the amount of $325,000 plus 8% interest due November 1, 2018 (the "Promissory Note") which was agreed to and signed by Zonetail in promise of payment;4. In August, 2018, Zonetail paid an interest payment of 144,444 common shares representing 8% of the interest payable;5. Further, on October 30, 2018, Belgravia, in good faith, agreed to amend the date of repayment of the Promissory Note to the earlier of (i) that date which is 12 months from the closing of the Zonetail going public transaction, or (ii) November 1, 2019 and increased interest payable from 8% interest to 18% interest on the Promissory Note;6. From March 2018 through February 2019 Belgravia was engaged by Zonetail to implement certain management services to fulfil its listing requirement. Belgravia provided services to assist Zonetail with Corporate Governance structure, meeting listing requirements and a number of other corporate initiatives;7. On November 21, 2018, Zonetail became a publicly-traded company on the TSX Venture Exchange. As a result, Belgravia's equity position, 4,749,999 common shares and 1,905,555 share purchase warrants was subject to Tier 2 escrow provisions and released over three years: 2019, 2020, and 2021;8. On November 23, 2018, Zonetail paid an interest payment on the Loan of $32,500 to Belgravia in accordance with the Promissory Note;Steps to Degradation of Relationship between Belgravia and Zonetail9. During Q2 of 2019, five months after the going public transaction was complete and only then the second tranche of the escrowed funds were released, the average market price of Zonetail common shares had plummeted to a price of approximately of $0.06 per common share or 1/3 of the original Zonetail Share Cost Price. Belgravia's total loss on investment: Over $700,000;10. On August 29, 2019, Zonetail released it's Q2 Financials which indicated approx. $17,000 of cash in the treasury;11. In December 2019, Zonetail commenced a legal action against Belgravia, instead of repaying the Loan in good faith. Belgravia continues to demand immediate repayment of the Loan and the debt owed, being $506,125 (principal and unpaid interest to date); and12. Belgravia has counterclaimed for $2,500,000 against Zonetail seeking to (among other things) hold Zonetail accountable for the full amount of the Loan repayment and applicable interest (i.e., $506,125).Mehdi Azodi President & CEO of Belgravia Hartford stated, "Belgravia will vigorously defend itself and assert its right to re-payment of the Loan in accordance with the Promissory Note. Belgravia is moving rapidly towards scheduling a trial date and will provide a further update in early Q1 of 2023."About Belgravia HartfordBelgravia Hartford Capital Inc. ("Belgravia" or the "Company") is a publicly traded investment holding company listed on the Canadian Securities Exchange. Belgravia is focused on growing its assets and holdings and increasing its net asset value (NAV). Belgravia invests in a portfolio of private and public companies located in jurisdictions governed by the rule of law. It takes a multi-sector investment approach with emphasis in the resources and commodities sector. Belgravia and its investments are considered high risk holdings and it may expose shareholders to significant volatility and losses. For more information, please visit www.belgraviahartford.com.Forward-Looking StatementsCertain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking statements include, without limitation, statements regarding planned investment activities & related returns, the timing for completion of research and development activities, the potential value of royalties, and other statements that are not historical facts. 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, changes in market trends, the completion, results and timing of research undertaken by the Company, risks associated with resource assets, the impact of general economic conditions, commodity prices, industry conditions, dependence upon regulatory, environmental, and governmental approvals, and the uncertainty of obtaining additional financing. 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.For More Information, Please Contact:Mehdi Azodi, President & CEOBelgravia Hartford Capital Inc.(250) 763-5533mazodi@blgv.ca Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
HONG KONG, Dec 19, 2022 - (ACN Newswire via SEAPRWire.com) - SinoMab BioScience Limited ("SinoMab" or the "Company", together with its subsidiaries, the "Group", stock code: 3681.HK), a Hong Kong-based biopharmaceutical company dedicated to the research, development, manufacturing and commercialization of therapeutics for the treatment of immunological diseases, is pleased to announce that the Company was awarded the "Most Valuable Pharmaceutical and Medical Company" at the "7th Hong Kong Golden Stocks Awards Ceremony" held in Hangzhou today.The Company Awarded the "Most Valuable Pharmaceutical and Medical Company"The "Most Valuable Pharmaceutical and Medical Company" award aims to recognize Hong Kong-listed pharmaceutical and medical companies that have a healthy corporate governance structure, prominent industry status, sound governance structure, good main business, and the ability to provide investors with sustainable and stable values. SinoMab was awarded the "Most Valuable Pharmaceutical and Medical Company", highlighting the attention and recognition of the industry and investors on the Company's value and innovation capabilities, which is a great encouragement and even a spur to SinoMab.SinoMab is the first Hong Kong-based listed biopharmaceutical company dedicated to the research, development, manufacturing and commercialization of therapeutics, primarily monoclonal antibody ("mAb")-based biologics, for the treatment of immunological diseases. With R&D headquarter in Hong Kong and production base in China, the Company strives to become a leading global biopharmaceutical company for the development of novel drugs to fulfil unmet medical needs through its Hong Kong-based innovative R&D, and PRC-based manufacturing capabilities. Currently, various candidate products for all-field indications of autoimmune diseases in SinoMab's layout have started clinical trials successively and are progressing steadily. In particular, SM03 (Suciraslimab), the Company's flagship product, is a potential global first-in target mAb for the treatment of rheumatoid arthritis ("RA") and other immunological diseases such as Alzheimer's disease ("AD"), systemic lupus erythematosus ("SLE"), Sjogren's syndrome ("SS") as well as non-Hodgkin's lymphoma ("NHL"). The Phase III clinical trial of SM03 for treatment of RA completed its enrollment on 31 December 2021, and is expected to complete the last subject visit (FV) in December 2022, read out clinical data in the first quarter of 2023 and submit a New Drug Application ("NDA") to the National Medical Products Administration (the "NMPA") of the People's Republic of China ("PRC") for commercialization in the second half of 2023 at the earliest.Under normal operation of the human immune system, the B-cell receptor (BCR) pathway would be activated and create strong signals in response to foreign ("non-self") antigens and trigger a series of B-cell immune responses. To differentiate from our "self" antigens, our body would recruit molecules, like SHP-1, to inhibit or reduce BCR-induced signaling, thereby suppressing B-cell immune responses. SM03 can be used to recruit such immunosuppressive molecules as SHP-1 by conversion of cis-binding CD22 to trans-binding CD22, forming a stable CD22 trans-binding structure, thereby restoring the tolerance of B cells to our "self" antigens and inhibiting a series of immune responses of B cells to attack our "self" antigens, thus suppressing relevant immune responses.Most of the mechanisms of action of existing RA therapies will result in the depletion or death of B cells, which can have a series of side effects on the human autoimmune system. In contrast, SM03 suppresses the autoimmune response by regulating the function of B cells and does not damage the B-cells and does not affect the normal function of B-cells in the immune system. Data from the Phase II clinical trial showed that SM03 has a comparable response rate and a significant safety advantage over competing products currently available on the market.In addition, SN1011, a key product of the Company, has obtained four IND approvals from the NMPA for the treatment of SLE, pemphigus ("PV"), multiple sclerosis ("MS"), neuromyelitis optica spectrum disorder ("NMOSD") respectively. At the same time, the Company is planning an IND submission for MS in the U.S. SM17 (a humanized anti-IL-7RB monoclonal antibody for injection), another key product of the Company, its first healthy subject had been successfully dosed in a Phase I First-in-Human (FIH) clinical trial in the U.S. in June this year and the subjects are currently in normal condition.Previously, SinoMab appointed Mr. Shanchun WANG as the President (China) of the Company, mainly responsible for the China operation. Mr. Wang has rich experience in the pharmaceutical industry for more than 30 years, served as the executive director of Sino Biopharmaceutical Limited and the president of Chia Tai - Tianqing Pharmaceutical Group Co. Ltd., and is a specialist that granted the special government allowances of the State Council and awarded as a national model worker. SinoMab's dedication to the field of autoimmune diseases and its vision of growing into a global leader in novel treatments of immunological diseases is highly consistent with the development model of Mr. Wang's service enterprises in the past. As one of the leaders in the biopharmaceuticals enterprise in China with rich experience and practical achievements in corporate strategic management, organizational management, innovation research and development and product commercialization, Mr. Wang's engagement as the President (China) of the Company will help expediting the Company's development from a global drug research and development enterprise to a biopharmaceutical company bearing commercialization capabilities and international perspective.Dr. Shui On LEUNG, Chairman, Executive Director and Chief Executive Officer of SinoMab said that: "The Company is deeply honored to be awarded the "Most Valuable Pharmaceutical and Medical Company" in the selection of the "7th Hong Kong Golden Stocks Awards", which reflects the capital market's recognition of the Company's value, innovation capabilities and growth potential, and is a great encouragement to the Company. In the future, the Company will, in line with its original purposes, endeavor to discover and develop innovative drug targets, explore therapies for immune diseases, accelerate R&D and clinical trials of various products, and at the same time further expand the product pipeline and potential indications, accelerate the realization of product commercialization, strive to bring benefits to patients and create values for shareholders and investors. With the imminent completion of the Phase III clinical trial of its flagship product SM03, the Company is poised for a new leap of increase in value."About the Selection of the "7th Hong Kong Golden Stocks Awards"The selection of the "7th Hong Kong Golden Stocks Awards" was jointly organized by Zhitongcaijing.com, a leading Hong Kong and US stock information platform in China, with RoyalFlush Finance and China Galaxy Securities. This selection was rigorous and attracted over 1,000 entries from Hong Kong-listed companies, covering traditional industries such as petrochemicals, finance, and automobiles, as well as emerging industries such as chips, Internet, and medical and pharmaceuticals, which are leading the transformation of China's economy.About SinoMab BioScience LimitedSinoMab BioScience Limited (stock code: 3681.HK) is dedicated to the research, development, manufacturing and commercialization of therapeutics for the treatment of immunological diseases. The Company's flagship product SM03 is a potential global first-in-target mAb against CD22 for the treatment of rheumatoid arthritis (RA) and is currently in Phase III clinical trial for rheumatoid arthritis in China, which has been recognized as one of the significant special projects of Significant New Drugs Development of the Twelfth Five-Year Plan Period and the Thirteenth Five-Year Plan Period. In addition, the Company possesses other potential first-in-target and first-in-class drug candidates, some of which are already in clinical stage, with their indications covering rheumatoid arthritis (RA), Alzheimer's disease, systemic lupus erythematosus (SLE), pemphigus (PV), multiple sclerosis (MS), neuromyelitis optica spectrum disorder (NMOSD), non-Hodgkin's lymphoma (NHL), asthma, and other diseases with major unmet clinical needs. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
Singapore, Dec 16, 2022 - (ACN Newswire via SEAPRWire.com) - TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers globally, announced today its partnership with Gameloft for brands for Asphalt 8: Airborne featuring its flagship motorcycle, TVS Apache RR 310. It makes TVS Motor the first Indian two-wheeler manufacturer to bring a virtual racing experience of its motorcycle to Gameloft's Asphalt 8, one of the world's leading motor racing game. This integration marks TVS Apache's foray into the world of gaming, extending its commitment to deliver an unparalleled racing experience to its 4.8 million+ customers, online as well as offline. It is in line with the growing interest for gaming amidst the racing enthusiasts and target audience for TVS Apache, making this integration another medium for the company to engage with enthusiasts across the world even when they are off their motorcycles.The TVS Apache series built out of TVS Racing, is based on the "Track to Road" philosophy. This philosophy manifests itself in each of TVS Apache motorcycles through the best-in-segment performance, technology and unique stye.Commenting on the partnership, Vimal Sumbly, Head Business - Premium, TVS Motor Company, said, "TVS Motor Company is excited about its partnership with Gameloft for brands, as it brings TVS Apache RR 310 in the popular gaming franchise - Asphalt 8: Airborne. TVS Apache series has been instrumental in flourishing premium motorcycling culture and is a popular brand among motorcycle enthusiasts and the Gen-Z. We are sure that this collaboration with Gameloft will help in increasing the awareness for TVS Apache brand, targeting a new set of audience while engaging online with our customers. With initiatives like these, TVS Apache has become one of the fastest growing brands in its segment, and continues to demonstrate its focus on bringing innovative platforms to connect with the customers."Speaking on the integration, Alexandre Tan, SVP Brand Partnerships & Advertising at Gameloft for brands, said, "TVS Motor is a great partner and we are excited that they are joining us for the first time in this new competition. With this new partner, we are thrilled to bring new innovative and exclusive in the game, creating a deeper connection with the TVS Motor brand and the Asphalt franchise community."Key highlights:- As part of this association, gamers across the world can now compete against each other on TVS Motor Company's flagship motorcycle - the TVS Apache RR 310- With this new integration, the 4.8 million TVS Apache customers and owners worldwide will get an all-new platform to experience their favourite TVS Apache RR 310 virtually in an exciting setting- TVS Motor is the first Indian two-wheeler manufacturer to bring its motorcycle to the popular gaming franchise- Players will discover the new TVS Apache branded booster & billboards and the new TVS Apache World Series Season. In the process, they also stand a chance to win exciting prizes- TVS Apache customers find keen interest in online gaming, and this association is set to bolster the brand's awareness and imagery in engaging newer audiences- The TVS Apache RR 310 integration in Asphalt 8: Airborne can be experienced in Career, Player vs Player and Multiplayer modesAbout TVS Motor CompanyTVS Motor Company is a reputed two and three-wheeler manufacturer globally, championing progress through Sustainable Mobility with four state-of-the-art manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. We are the only two-wheeler company to have received the prestigious Deming Prize. Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years. Our group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world. Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate. For more information, please visit www.tvsmotor.comAbout Gameloft for brandsGameloft for brands offers leading advertising and gamification solutions to help brands better connect with their audiences. Through interactive content and immersive experiences supported by its extensive in-game media network, Gameloft for brands leverages its longstanding gaming expertise to engage people in meaningful ways with an unparalleled level of transparency and safety. Gameloft for brands has received the TAG Certification Against Fraud Seal and follows MOAT's standards. To date, Gameloft for brands has delivered more than 10,000 campaigns for prestigious brands such as Air France, Coca-Cola, Ferrero, Ford, FOX, Automobili Lamborghini, ING, Netflix, Procter & Gamble, Samsung and LEGO, in over 40 countries around the world (North America, Latin America, Middle East, Africa, Europe, Asia, etc.) and our work has been honoured with over 50 awards from marketing organizations.For more information, please contact:Namrata Sharma - Namrata.sharma@adfactorspr.com Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
TOKYO, Dec 9, 2022 - (JCN Newswire via SEAPRWire.com) - Mitsubishi Motors Corporation (hereafter, Mitsubishi Motors) announced today that it had passed the milestone of exporting five million vehicles from Thailand.The local production and sales company, Mitsubishi Motors (Thailand) Co., Ltd. (hereafter, MMTh), currently has three production plants and one engine plant in Laem Chabang, Chonburi Province. This makes it Mitsubishi Motors' largest production base outside of Japan. Mitsubishi Motors established a sales company in Thailand in 1961 and began production in 1964. In 1988, the company became the first automotive manufacturer to start exporting from Thailand. Currently, MMTh has grown to export vehicles to more than 120 countries around the world, and in 2021, approximately 90 percent of the 340,000 vehicles* produced in Thailand were for export. "Thailand is one of our most important bases, and its importance will continue to increase in the future," said Takao Kato, president and chief executive officer, Mitsubishi Motors. "Reaching an export volume of five million vehicles is a step to the continuous growth and expansion of production volume in Thailand. We will continue to focus on Thailand as the main region that drives our activities in ASEAN countries, which are the foundation of our business. At the same time, we will contribute to the development of the automobile industry in Thailand."*Includes knockdown units. About Mitsubishi MotorsMitsubishi Motors Corporation (TSE:7211) --a member of the Alliance with Renault and Nissan--, is a global automobile company based in Tokyo, Japan, which has about 30,000 employees and a global footprint with production facilities in Japan, Thailand, Indonesia, mainland China, the Philippines, Viet Nam and Russia. Mitsubishi Motors has a competitive edge in SUVs, pickup trucks and plug-in hybrid electric vehicles, and appeals to ambitious drivers willing to challenge convention and embrace innovation. Since the production of our first vehicle more than a century ago, Mitsubishi Motors has been a leader in electrification--launched the i-MiEV -the world's first mass-produced electric vehicle in 2009, followed by the Outlander PHEV --the world's first plug-in hybrid electric SUV in 2013. The company announced a three-year business plan in July 2020 to introduce more competitive and cutting-edge models, including the Eclipse Cross (PHEV model), the all-new Outlander and the all-new Triton/L200.For more information on Mitsubishi Motors, please visit the company's website at www.mitsubishi-motors.com/en/. Copyright 2022 JCN Newswire. All rights reserved. (via SEAPRWire)
Busan, Korea, December 05, 2022 – (SEAPRWire) – South Korea’s ocean exploration company Geoview successfully completed the marine geophysical exploration for the floating offshore wind farm in Ulsan. In the first half of 2022, Geoview won an ocean exploration project from Equinor, a Norwegian national energy company, for the first time as a Korean company. Geoview conducted and completed the project solely, earning the reputation that their technologies can compete against the global companies in Europe at a similar level. Geoview, founded in 2005, has conducted numerous ocean exploration projects through which they acknowledge the importance of meeting the global standards. Subsequently, the company made aggressive investments in R&D and equipment. In 2019, Geoview conducted an exploration task on the area where NGCP’s underwater cables were to be installed in the Philippines. In 2021, the company conducted geophysical and geotechnical survey on the 90km route between Wando and the Jeju Island in Korea. Recognized for its technologies in the field, the company has been receiving many inquiries for the eighty nine offshore wind farm projects that are in progress in Korea. Geoview conducted the NGCP project in partnership with a local company MJAS. MJAS provided an exploration vessel and surveyor while Geoview dispatched exploration equipment and technical personnel. In the process, Geoview was able to pass on its high-level exploration techniques to MJAS. The two companies has been maintaining a close relationship ever since and are now preparing for the next project together. Leveraging the joint project experience in the Philippines, Geoview is planning a “Grow Together” business model which promotes shared growths with local companies in the Southeast Asian countries from 2023. Hyundo Kim, the CEO of Geoview, is looking for more business opportunities with interested companies with a vision to make a multinational ocean exploration group based in East Asia and Southeast Asia that can compete against the global ocean exploration companies in a few years by accumulating various technologies and experiences; and creating an industrial ecosystem to build upon seamless partnerships. Social Link Facebook: https://www.facebook.com/GeoView.co.kr Media contact Brand: Geoview Contact: Media team Email: geoview@geoview.co.kr Website: https://www.geoview.co.kr Address: 4F, Sejin Bldg. 423, Hasinbeonyeong-ro, Saha-gu, Busan, 49301, Pepublic of Korea. Phone: +82-51-294-1603 (Business hours 09:00~18:00 GMT) SOURCE: Geoview The article is provided by a third-party content provider. SEAPRWire ( https://www.seaprwire.com/ ) makes no warranties or representations in connection therewith. Any questions, please contact cs/at/SEAPRWire.com Sectors: Top Story, Daily News SEA PRWire: PR distribution in Southeast Asia (Hong Kong: AsiaExcite, EastMud; AsiaEase; Singapore: SEAChronicle, VOASG; NetDace; Thailand: SEAsiabiz, AccessTH; Indonesia: SEATribune, DailyBerita; Philippines: SEATickers, PHNotes; Malaysia: SEANewswire, KULPR; Vietnam: SEANewsDesk, PostVN)
SINGAPORE, Dec 5, 2022 - (ACN Newswire via SEAPRWire.com) - Kitchen Culture Holdings Ltd. ("Kitchen Culture" or the "Company") said today that it had filed notices to correct attempts by a director, Madam Hao Dongting ("Mdm Hao") - who is intricately linked to its largest shareholder that has made a second invalid attempt to remove 5 of her fellow board members - to change records of the secretary, office bearers and address of the Company as registered with the Accounting and Corporate Regulatory Authority ("ACRA").It said that Mdm Hao and 5 persons seeking to replace 5 current directors are circumventing the need to go through "proper and required legal processes" to determine the validity of a purported extraordinary general meeting ("Purported EGM") held by electronic means on 25 November 2022.Kitchen Culture has repeatedly asked the 8 requisitioners led by its largest shareholder OOWAY Group Ltd. ("OOWAY Group") - of which Mdm Hao is a substantial shareholder and director - to bring the matter of the validity of the Purported EGM before a Singapore Court. Alternatively, they can issue fresh and compliant notices and other documents to call for a fresh EGM.The Company deems the meeting to be invalid as requisitioners had not sent valid notices, while 5 persons they sought to appoint (the "5 Purported Appointees") were ineligible for election in the first place as they had failed, neglected or refused to submit relevant documents on time, even assuming that it was a valid general meeting.The Company has also received many emails and calls from shareholders voicing frustration that the requisitioners had proceeded with the Purported EGM and announced "the results" in a press release issued on ACN newswire the same day. Many shareholders have also said they had not received the notices calling for the meeting.The requisitioners have yet to respond to the Company's request to bring the matter to Court. Instead, in recent days, Mdm Hao, on behalf of the "new board" supposedly comprising herself and the 5 Purported Appointees, appears to have been contacting or attempting to contact the Company's professional firms to replace the incumbent Company Secretary with 2 others and to change the registered office to the latter's.The "new company secretaries", without waiting for a determination by the Singapore Court or informing the incumbent Company Secretary or the Directors, proceeded to file these changes online with ACRA. However, Kitchen Culture has taken swift action to file corrective notices with ACRA.In any case, these are matters which shall be effected according to resolutions properly passed by shareholders or the proper Directors, the Company said. "The filing of any such 'changes' does not have any substantive effect on the legality - or, for the matter, the invalidity - of the removals, appointments, or change of registered office.""The Directors (other than, of course, Mdm Hao) view these actions to be extremely disruptive of and interfere with the orderly conduct of the business and affairs of the Company, to create uncertainty and sow confusion, as well as are unlawful," Kitchen Culture said. The 5 Purported Appointees proposed by the requisitioners are James Beeland Rogers, Jr., Yip Kean Mun, Lam Kwong Fai, Tan Meng Shern and Cheung Wai Mun. The Requisitioners comprise OOWAY Group and 7 individuals who own an aggregate of 21.71% of the Company's shares.Kitchen Culture's Board, with the exception of Mdm Hao, has said that there are no grounds to justify the resignations of 5 current directors - Mr Lim Wee Li (Executive Director), Mr Lau Kay Heng (Non-Executive Non-Independent Chairman), and 3 Independent Directors, Mr Ang Lian Kiat, Mr William Teo Choon Kow and Mr Peter Lim King Soon. Mr Lau Kay Heng and Mr Peter Lim King Soon were named as new directors on 15 July 2022, the same day that Mr Lincoln Teo, an OOWAY Group's representative and former Interim CEO of Kitchen Culture, ceased to be Executive Director. The Company has stressed that OOWAY Group had supported the re-appointments of Mr William Teo Choon Kow and Mr Ang Lian Kiat at the Annual General Meeting held on 18 March 2022.Shares of the SGX Catalist-listed provider of kitchen and bathroom solutions have been suspended from trading since July 2021. Its Board has seen several changes since the involvement of OOWAY Group in October 2020. Issued by:Kitchen Culture Holdings Ltd.9 Raffles Place, #52-02, Republic PlazaSingapore 048619 Tel: +65 6471 6776, Fax: +65 6472 6776Media & Investor Contact Whatsapp (Text): +65 9748 0688 kitchenculture@wer1.netThis press release has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.The contact person for the Sponsor is Ms. Lee Khai Yinn (Tel +65 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.Kitchen Culture Holdings Ltd. [SGX: 5TI] [BBG: KCH:SP] [RIC: KCHL.SI] https://kcholdings.com.sg Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
Vancouver, BC, Nov 28, 2022 - (ACN Newswire via SEAPRWire.com) - Queensland Gold Hills Corp. (TSXV: OZAU) (OTCQB: MNNFF) ("Queensland Gold" or the "Company") is pleased to announce that it has entered into an agreement with an effective date of November 21, 2022 (the "Purchase Agreement") with 9219-8845 QC Inc., a private Quebec company dba Canadian Mining House ("CMH") and certain investors in CMH ("CMH Nominees") to acquire a 100% interest in the 86 square kilometre Mia Lithium Property (the "Property") in the James Bay area of Quebec, Canada (the "Acquisition").Figure 1 - Mia Lithium Property Regional LocationFigure 2 - Mia Lithium PropertyPresident & CEO Alicia Milne states, "Our entry into the lithium space represents a new value creation opportunity for our shareholders. Quebec is a top global mining jurisdiction and the James Bay region is a highly attractive investment destination for lithium exploration due to its prolific hard rock lithium endowment. We are looking forward to revealing the enormous potential we see in the Mia project."About the Mia Lithium PropertyThe Mia Property is comprised of 170 mineral claims, located 62 km East of Wemindji Community in the Eeyou Itschee Territory, James Bay, Quebec. The lithium mineral showings are located approximately 10 kilometres from the nearest highway.The Property geology is part of the Yasinski Lake area, identified by narrow greenstone belt slivers, belonging to volcanic rocks and related sediment the Yasinski Group and pierced by syn-tectonic tonalite and granodiorite suite. The Property is situated in the western extremity of this geological area, covering various lithologies and favourable structures, known to host spodumene bearing pegmatites. The southern half of the Property covers a northeast limb of the Vieux Comptoir granite and a concordant intrusive body described as a spodumene granite on SIGEOM, the Quebec provincial government's geomining information system: https://sigeom.mines.gouv.qc.ca/signet/classes/I1108_afchCarteIntr.Historical work by Main Exploration Company Ltd. in 1959 (GM10200) reported several spodumene-bearing pegmatites on the Property and mapped an 8.3 km trend of discontinuous pegmatite intrusions. SIGEOM lists nine metallic deposits directly on the Mia Lithium property including two for lithium, namely Mia Li-1 and Mia Li-2. Carte 1879 is listed as a spodumene mineral deposit as no assays were recorded for it.The westernmost mineral showings Mia-Li1 and Mia-Li2 were sampled in 1997 by Quebec government geologists and assays returned grades of 0.47% Li2O and 2.27% Li2O respectively. Numerous pegmatite intrusions have been recorded along the 8.3 km long trend but were never followed up for their lithium potential. The 1959 report also details that the pegmatite dykes are as much as 100 feet (30.5 metres) in width and are commonly zoned, with spodumene crystals described as being as much as 2 feet (0.61 metres) in length.Acquisition Terms:Subject to TSX Venture Exchange (the "TSXV") acceptance, pursuant to the terms of the Purchase Agreement, the Company will acquire the Property from CMH for total consideration of an aggregate of 13,000,000 common shares of the Company (the "Consideration Shares"), $500,000 (the "Cash Consideration") and $1,000,000 in exploration expenditures as follows:- 6,500,000 Consideration Shares and $200,000 within 3 days of TSXV acceptance of the Acquisition (the "Effective Date");- 6,500,000 Consideration Shares and $150,000 on the six-month anniversary of Effective Date; and- Incur $1,000,000 in exploration expenditures on the Property and $150,000 on the one-year anniversary of the Effective Date (the "Closing Date").The Company will earn a 100% interest in the Property on the Closing Date.CMH has directed that a portion of the Acquisition Shares and Cash Consideration be issued and paid to the CMH Nominees.CMH will retain up to a maximum of a 3% net smelter returns royalty, of which up to 1% can be repurchased by the Company at any time prior to commercial production for $1,000,000. No finder's fee is payable in connection with the Acquisition. The Property is subject to an existing 2% net smelter returns royalty granted by CMH (as assignee) in favour of Franco-Nevada Corporation on certain minerals claims forming a part of the Property as well as an existing 2% net smelter returns royalty granted by CMH in favour of Eastmain Resources Inc. on certain mineral claims forming part of the Property. On the Closing Date, the Company will assume the obligations under these existing royalties.The Acquisition remains subject to TSXV acceptance.Private PlacementQueensland will be conducting a non-brokered private placement of up to 12,500,000 units (each, a "Unit") at a price of $0.10 per Unit for gross proceeds of up to $1,250,000 (the "Offering"). Each Unit will consist of one common share of the Company (each, a "Share") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant exercisable into one additional Share at a price of $0.25 for two years after the date of issuance. Closing of the Offering is subject to the acceptance of the TSXV. The Company intends to use the proceeds of the Offering to commence a comprehensive review of all historical data related to the Mia Lithium Property in preparation for a field exploration campaign and for general working capital.All securities to be issued under the Offering will be subject to a statutory hold period expiring four months and one day from the date of issuance. The Company anticipates that the majority of the subscriptions will be from arm's length parties, although insiders may participate in the Offering. The Company may pay finders' fees on the Offering, as permitted by applicable securities.QP DisclosureNeil McCallum, B.Sc., P.Geo., of Dahrouge Geological Consulting Ltd., a registered permit holder with the Ordre des Geologues du Quebec and Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, supervised the preparation of the technical information in this news release.About QueenslandQueensland Gold Hills is mineral exploration company currently advancing exploration of two gold projects located in the historic goldfields of Queensland, Australia: the Big Hill Gold Project and the Titan Project which collectively cover 110 square kilometers in the Talgai Goldfields of the broader Warwick-Texas District and host 54 high-grade historical gold mines.FOR FURTHER INFORMATION, PLEASE CONTACT:Alicia Milne President & CEOamilne@queenslandgoldhills.comKevin BottomleyDirectorkbottomley@queenslandgoldhills.comTelephone: 1 (800) 482-7560E-mail: info@queenslandgoldhills.comTwitter: @QLDGoldhillsForward-Looking StatementsThis news release may contain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian legislation. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Accordingly, all statements in this news release that are not purely historical are forward-looking statements and include statements regarding beliefs, plans, expectations and orientations regarding the future including, without limitation, any statements or plans regard the geological prospects of the Company's properties and the future exploration endeavors of the Company. 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. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same. Readers are cautioned that mineral exploration and development of mines is an inherently risky business and accordingly, the actual events may differ materially from those projected in the forward-looking statements. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under Company's SEDAR profile at www.sedar.com.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. Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
SINGAPORE, Nov 28, 2022 - (ACN Newswire via SEAPRWire.com) - Kitchen Culture Holdings Ltd. ("Kitchen Culture" or the "Company") said today that 5 directors that requisitioners sought to replace through a purported Extraordinary General Meeting last Friday ("Purported EGM") will remain. Instead, the Company deems the meeting and resolutions purportedly passed to be invalid, and has asked the requisitioners to put the matter before the Singapore Court.Responding to a press release issued on 25 November 2022 on ACN Newswire by the 8 requisitioners, Kitchen Culture said it had written the same day to lawyers for the latter asking for key information. As at 12 noon today, the requisitioners' lawyers had yet to send documentation such as executed proxy forms, list of attendees, who chaired the meeting purportedly held electronically at 9.00 am last Friday, and the breakdown of votes and questions raised or answered at the meeting.This has prevented the directors from having "... the opportunity to make a proper assessment of the conduct and processes at the so-called meeting, and take professional advice as necessary,' the Company said. Instead, the requisitioners were "... creating and maintaining uncertainty and confusion by claiming success of the 'New Board" through press releases and the media.The requisitioners appeared to have rushed to issue their 25 November press release "without bothering to inform the Company of such status." Notwithstanding this, the Company has been trying to engage them to ensure that there is clarity of the situation and to avoid further uncertainty and confusion sown by such conduct, Kitchen Culture said.The Company had announced that the Purported EGM - the second attempt by the requisitioners to remove 5 of 6 existing directors - was invalid as it is in non-compliance with the Companies Act 1967 and breached the Company's Constitution. Instead of giving proper notice, the requisitioners issued a single newspaper advertisement.Over the past weekend, the Company has received numerous letters of protest and complaints from various shareholders, objecting to the so-called holding of the Purported EGM in spite of its invalidity. "Some shareholders also complained that they did not receive any notice... and were therefore not in a position to consider attending it," the Company said.The Company, through its lawyers, has written again to lawyers of the requisitioners to invite them to apply to the Court to determine whatever issues from which they differ, with respect to the Company's position. The Directors (save for, and unlike, Mdm Hao) consider that this is "the most appropriate way to resolve any differences or contentions (and to put to rest the uncertainty and confusion)" as to the validity of the Purported EGM and the resolutions they claim to have been passed, and the eligibility of the persons they claim to have been elected to the office of Director of the Company.Kitchen Culture said each of the 5 persons named by requisitioners to be members of the new 6-member board were ineligible to be put up for election in the first place as they had failed, neglected or refused to submit important relevant documents on time, even assuming that it was a valid general meeting of the Company.The 5 persons proposed by the requisitioners are James Beeland Rogers, Jr., Yip Kean Mun, Lam Kwong Fai, Tan Meng Shern and Cheung Wai Mun. The Requisitioners comprise OOWAY Group Ltd. ("OOWAY") - the Company's largest shareholder - and 7 individuals who own an aggregate of 21.71% of the Company's shares.Kitchen Culture's Board, with the exception of Madam Hao Dongting ("Mdm Hao"), has said that there are no grounds to justify the resignations of the 5 current directors - Mr Lim Wee Li (Executive Director), Mr Lau Kay Heng (Non-Executive Non-Independent Chairman), and 3 Independent Directors, Mr Ang Lian Kiat, Mr William Teo Choon Kow and Mr Peter Lim King Soon. Mr Lau Kay Heng and Mr Peter Lim King Soon were named as new directors on 15 July 2022, the same day that Mr Lincoln Teo, an OOWAY representative and former Interim CEO of Kitchen Culture, ceased to be Executive Director. The Company stressed that OOWAY had in fact supported the re-appointments of Mr William Teo Choon Kow and Mr Ang Lian Kiat at the Annual General Meeting held on 18 March 2022."The Directors of the Company (other than Mdm Hao) urge all shareholders to be wary of and not to be unduly influenced by media statements emanating from or ascribed to OOWAY Group or any of the other 7 Relevant Shareholders or any of the 5 persons who were claimed to have been elected to the "New Board". Shareholders are advised to refer to and compare against announcements and press releases of the Company," Kitchen Culture said. Kitchen Culture shares have been suspended from trading since July 2021. Its Board has seen several changes since the involvement of OOWAY in October 2020. Issued by:Kitchen Culture Holdings Ltd.9 Raffles Place, #52-02, Republic PlazaSingapore 048619 Tel: +65 6471 6776, Fax: +65 6472 6776Media & Investor Contact Whatsapp (Text): +65 9748 0688 kitchenculture@wer1.netThis press release has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.The contact person for the Sponsor is Ms. Lee Khai Yinn (Tel +65 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.Kitchen Culture Holdings Ltd. [SGX: 5TI] [BBG: KCH:SP] [RIC: KCHL.SI] https://kcholdings.com.sg Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
SINGAPORE, Nov 25, 2022 - (ACN Newswire via SEAPRWire.com) - The Relevant Shareholders[3] of Kitchen Culture Holdings Ltd. ("Kitchen Culture", "the Company" or "the Group") today announced that all Resolutions tabled at the Extraordinary General Meeting held on 25 November 2022 were approved, with 100% of eligible votes cast in favour of each Resolution and none against.Mr Liu Yanlong, a representative for OOWAY Group Ltd, commented on the results of the EGM voting, stating, "The results of the EGM held today confirmed the lack of trust and confidence in the current Board of Directors by shareholders of Kitchen Culture and their wish to give a new Board of Directors the mandate and opportunity to steer the company forward and in a direction that will create shareholder value.The fact that all resolutions were passed with 100% of the eligible votes cast clearly reflects this."The Relevant Shareholders are also confident, pursuant to legal advice received, that the Resolutions passed at the EGM to appoint 5 new Directors (See Annex A) and remove the 5 incumbent Directors (See Annex B) fulfil all statutory and constitutional requirements of the Company, the Companies Act 1967, as well as the SGX-ST Catalist Rules.Section 177 of the Companies Act 1967 permits 2 or more members holding at least 10% of the company's issued shares (excluding treasury shares) to call for a General Meeting.Mr Liu Yanlong reiterated "This EGM signifies a new dawn for Kitchen Culture and we hope for the new Board of Directors to breathe new life into the Company. Despite the obstacles put in place by the previous board to obstruct the conduct of this EGM, we are delighted to announce that not only was the EGM successfully concluded, but all shareholders eligible to vote at the EGM have also voted in favour of all Resolutions.""We are informing Kitchen Culture's Corporate Secretary of the EGM results and respectfully urge the previous Board of Directors and the corporate secretary to cooperate fully in the transition phase during the handover. We will not hesitate to take legal actions to compel such compliance where necessary." Added Mr Liu Yanlong.The new Board of Directors, with a fresh mandate obtained from shareholders of the Company, will immediately take to the task of turning the Company around and creating shareholder value, while also being mindful to engage and communicate with shareholders and to run the Company in a more transparent manner.Mr Yip Kean Mun, as a member of the new Board of Directors, said, "On behalf of the new Board of Directors of Kitchen Culture, I wish to express our gratitude to all shareholders for their support. We value the trust and confidence you have placed in us, and we will do everything possible to meet and exceed your expectations. We intend to adopt a policy of frequent engagement and communication with all shareholders in order to provide the transparency that all investors demand."Commenting on the EGM and the new Board, one of Kitchen Culture's shareholders, Mr Lin Xiao Long said, I am confident that the new Board will be able to reorganise and revive the Company such that it becomes attractive again to investors looking for stable companies with good value and growth potential".Note:1. As the COVID-19 situation is still ongoing, the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings for Companies, Variable Capital Companies, Business Trusts, Unit Trusts and Debenture Holders) Order 2020 are still in force. With reference to paragraph 5(1) read with the First Schedule, the Company may convene, hold, conduct, whether wholly or partly, the Annual General Meeting, by electronic means. This includes provision for production and distribution of documents by electronic means.2. Section 177 Notice constituting a special notice under Section 152(2) read with Section 185 of the Companies Act 1967 of Singapore (the "Companies Act") of the intention of the Relevant Shareholders to convene an extraordinary general meeting of the Company (the "EGM") pursuant to Section 177 of the Companies Act.3. Relevant Shareholders refers to OOWAY Group Ltd., Koh Cher Chow, Lin Xiao Long, Ling Chui Chui, Koh Ngin Joo, Lim Cheng Huat, Chew Yu Sheng and Soh Koon Eng.Issued by the Relevant Shareholders of Kitchen Culture Ltd. Media and Investors Contact: Email: query@oowayasia.comAnnex A: New Board of Directors- Appointed at EGM on 25 November 20221. Mr James Beeland Rogers, Jr. appointed as a Non-Executive Director of the Company;2. Mr Yip Kean Mun appointed as an Executive Director of the Company;3. Mr Lam Kwong Fai appointed as an Independent Director of the Company;4. Mr Tan Meng Shern appointed as an Independent Director of the Company; and5. Mr Cheung Wai Man appointed as an Independent Director of the Company.- Appointed at last annual general meeting on 18 March 20226. Mdm Hao Dongting re-appointed as Non-Executive Chairperson on 18 March 2022, and later re-designated as Non-Executive Non-Independent Director on 10 November 2022.Annex B: Previous Board of Directors - Removed at EGM on 25 November 20221. Mr. Lau Kay Heng2. Mr. Lim Wee Li3. Mr. William Teo Choon Kow4. Mr. Ang Lian Kiat and 5. Mr. Peter Lim King SoonKitchen Culture Holdings Ltd. [SGX: 5TI] [BBG: KCH:SP] [RIC: KCHL.SI] https://kcholdings.com.sg Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
SINGAPORE, Nov 23, 2022 - (ACN Newswire via SEAPRWire.com) - The Lead Independent Director ("Lead ID") of Kitchen Culture Holdings Ltd. ("Kitchen Culture" or the "Company"), in a letter to shareholders today, has expressed concerns about promises made to the Company by its largest shareholder, OOWAY Group Ltd. ("OOWAY"), which is leading a second attempt to remove 5 of 6 directors via an extraordinary general meeting ("Second Intended EGM").While Kitchen Culture's Board, acting on legal advice, has announced that the Second Intended EGM scheduled for this Friday is defective and invalid for non-compliance with the Companies Act 1967 and the Company's Constitution, Lead ID William Teo Choon Kow ("Mr Teo") said shareholders have raised concerns about OOWAY and have continued to seek answers about its promises to the Company.OOWAY and 7 individuals (the "Requisitioners") who own an aggregate of 21.71% of the Company's shares have made 2 attempts in recent weeks to remove Mr Teo and 4 others - Mr Lim Wee Li (Executive Director), Mr Lau Kay Heng (Non-Executive Non-Independent Chairman), and IDs, Mr Ang Lian Kiat and Mr Peter Lim King Soon. The Requisitioners want to replace them with 5 others.The Experience of OOWAY's Involvement with Kitchen CultureRecounting the inception of OOWAY to SGX-Catalist listed Kitchen Culture since October 2020, Mr Teo said the business of providing solutions and products for kitchens and wardrobes had not been profitable for years. As such, the Board was excited when it was presented with the prospect of a new business being injected via a deal to acquire shares in OOWAY Technology Pte. Ltd ("OOWAY Technology").A team from the OOWAY Group presented its Asian Accounts Receivable Exchange ("AREX") as "a world's first online platform for trading accounts receivable assets". The platform, running on a digital currency, Lantana, was said to be able to assess and transact up to US$30 billion worth of assets by 2023, its key adviser Mr Liu Yanlong ("Mr Liu") told Kitchen Culture's Board and other investors.After AREX was launched online on 23 February 2021, Kitchen Culture viewed OOWAY as a 'white knight' that could transform the Company's business fortunes. Madam Hao Dongting ("Mdm Hao") - indirectly a 47% shareholder of OOWAY - and Mr Lincoln Teo Choong Han ("Lincoln") joined the Company's Board of Directors in April 2021. Lincoln was named Interim CEO of Kitchen Culture 3 months later."What came next was a bolt from the blue," Mr Teo said. Shortly after his appointment as Interim CEO, Lincoln suddenly stated at a Board meeting in July 2021 that AREX had "nothing to do" with OOWAY and was a 'separate exchange altogether'. In spite of this the Board remained hopeful that Lincoln and OOWAY would be able to bring in other businesses. "As events have shown, this hope was misplaced," Mr Teo said.As confirmed by OOWAY Technology Group, its main revenue for the financial year ended 2021 and the 6-months ended 30 June 2022 was generated from selling parallel imported cars in the People's Republic of China (a business with extremely narrow margins); it incurred substantial losses which have reduced its net assets significantly. Mr Teo noted that this was despite that OOWAY Group listing on its website big names such as Bank of China, ICBC Bank, DBS Bank and Amazon as collaborative partners."These discoveries are extremely concerning. I recently carried out a Google search on AREX and, to my surprise, I could only find two English-language reports on AREX. The AREX website referred to in the press release (www.sgarex.com) is also no longer active," Mr Teo said. Further concerns over the OOWAY Group's actionsMr Teo also stated several other concerns about the actions of OOWAY Group, Mdm Hao and Lincoln:1) OOWAY has not been able to bring in any significant business to the Company, and the only 2 significant ventures it proposed 'have been tainted with irregularities". i) the first involved a transfer of US$480,010 to a Hong Kong company to provide technology support for e-commerce. However, one of the agreements was not dated and the funds transfer was executed without obtaining appropriate due diligence, documentation or prior Board approval. Fortunately, as announced on 14 October 2021, the Company was able to recover a net amount of US$492,259.97 from the Hong Kong company after terminating the transactions. ii) the second, the Company - acting on OOWAY's recommendation through Lincoln amid health concerns during the COVID-19 pandemic - purchased S$600,000 worth of face masks in April 2021 from Anhui Health Box Technology Co. Ltd for resale. Responding to directors' concerns, Lincoln claimed OOWAY had ready buyers offering good margins among its B2B channels, and named the U.S. Government as a transacting party. Instead, Lincoln assigned staff to carry out B2C sales and hired a "Regional Marketing Director" for this purpose at a monthly salary of S$6,000. This was later increased to S$10,000 and resulted in the Company paying S$121,760 in total remuneration to this staff between September 2021 and September 202.To date, total sales achieved for the masks is S$41,624 while the total costs incurred in this business amounted to S$797,046. The shelf life of the masks will expire in January 2023. 2) Between July 2021 and July 2022 during which Lincoln was Interim CEO, more than S$4 million of the Company's funds were depleted. Apart from the 2 ventures listed above, i) Lincoln recruited 4 employees between July to September 2021 from another company where he is a shareholder and director to launch a digital trade business for the Company, some of whom occupied positions which did not match their job experience. This business did not get off the ground and the Company paid an aggregate of S$408,240 to these 4 employees in salaries, allowances and CPF until their employments were terminated by the new Board in July 2022.ii) Instead of leaving the Special Auditor to complete its investigations on irregularities that happened during the past management term to decide on the most appropriate course of action, Lincoln spent more than S$1.1 million in legal fees in suits against the former CEO and Executive Director Lim Wee Li and 2 Chinese employees of the Company.3) The OOWAY Group had made various promises about injecting funds into the Company but these were either never followed through on its promises or contained terms or conditions which the Directors deemed to be unacceptable.Mr Teo said, "... There are serious question marks around why the Relevant Shareholders, led by the OOWAY Group, are now mounting their attempt to remove the current Board (save for Mdm Hao, its own representative) and are going about their efforts in such an antagonistic manner. In view of all of the circumstances above, the Board considers that there may be a need for further investigation into the representations made by the OOWAY Group..."Kitchen Culture has also responded to a press release issued on ACN Newswire by the requisitioners on 18 November 2022. The Company announced that the press release had urged shareholders not to be "discouraged" by the Company's statement about the validity of the Second Intended EGM.Acting on the advice of 2 lawyers, Kitchen Culture has told shareholders not to attend the Second Intended EGM as notices sent by requisitioners were defective and invalid.However, to give 'appropriate room' for the wishes of the requisitioners, the latter could "(i) bring before a Court for determination those legal issues they do not agree with, or (ii) to issue a proper and fully compliant set of documents and take all steps to facilitate a proper general meeting of the Company", the Board (with the exception of Mdm Hao) said.Kitchen Culture shares have been suspended from trading since July 2021. Its Board has seen several changes since the involvement of OOWAY. Issued by:Kitchen Culture Holdings Ltd.9 Raffles Place, #52-02, Republic PlazaSingapore 048619 Tel: +65 6471 6776, Fax: +65 6472 6776Media & Investor Contact Whatsapp (Text): +65 9748 0688 kitchenculture@wer1.netThis press release has been reviewed by the Company's sponsor, SAC Capital Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.The contact person for the Sponsor is Ms. Lee Khai Yinn (Tel +65 6232 3210), at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.Kitchen Culture Holdings Ltd. [SGX: 5TI] [BBG: KCH:SP] [RIC: KCHL.SI] https://kcholdings.com.sg Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
SINGAPORE, Nov 18, 2022 - (ACN Newswire via SEAPRWire.com) - The Relevant Shareholders[1] of Kitchen Culture Holdings Ltd. ("Kitchen Culture" or the "Company") refer to the EGM which will be convened on Friday, 25 November 2022 at 9.00 a.m. to be held by way of electronic means in relation to the proposed removal of 5 existing directors and the appointment of 5 new directors.The Relevant Shareholders advise shareholders of the Company ("Shareholders") not to be discouraged by any statement issued by the Company about the validity of the EGM or seeking to persuade them not to attend the EGM. The EGM will proceed with or without the cooperation of the Company.The Relevant Shareholders emphasize that there is no provision in the Company Constitution, Companies Act, or SGX Listing Manual that gives the Company the power to declare the EGM invalid.Legal advisors have also confirmed that the Notice of EGM as published on 3 November 2022 in the Business Times ("Notice of the EGM") and the EGM are valid pursuant to the Company's Constitution and the Companies Act 1967 of Singapore.The Relevant Shareholders would like to remind Shareholders that the Company had previously refused to publish the Notice of EGM on SGXNet and on the Company's website, contrary to Catalist Rule 704(14) of the SGX Listing Manual (the "Rule"). Under the Rule, the Company is required to immediately announce the details of any general meeting, such as by publishing a copy of the Notice of the EGM on SGXNet and the Company's website, regardless of any advice sought or action to be taken. Failure to do so is a breach of the Rule and unfairly disenfranchises Shareholders who wish to attend and vote at a general meeting.Shareholders are strongly encouraged to attend and vote at the EGM either in person or via proxy, to exercise their rights as shareholders of the Company with respect to the proposed resolutions set out in the Notice of the EGM.[1] Relevant Shareholders refers to OOWAY Group Ltd., Koh Cher Chow, Lin Xiao Long, Ling Chui Chui, Koh Ngin Joo, Lim Cheng Huat, Chew Yu Sheng and Soh Koon Eng.Issued by Relevant Shareholders of Kitchen Culture Ltd. Media and Investors Contact: Email: query@oowayasia.comKitchen Culture Holdings Ltd. [SGX: 5TI] [BBG: KCH:SP] [RIC: KCHL.SI] https://kcholdings.com.sg Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
JAKARTA, Nov 15, 2022 - (ACN Newswire via SEAPRWire.com) - State-owned energy company PT Pertamina committed to support the Indonesian government to achieve net zero emissions (NZE) by 2060 through the decarbonization initiatives program currently implemented by the company.Senior Vice President of Strategy and Investment of Pertamina Daniel Purba speaks at a discussion organized on the sidelines of COP27, at the Indonesian Pavilion in Sharm el-Sheikh, Egypt on Friday (November 11, 2022). (ANTARA/HO-PT Pertamina)Senior vice president of strategy and investment at Pertamina Daniel S Purba conveyed this information during an ASEAN Panel Discussion on the sidelines of COP27 in Sharm el-Sheikh, Egypt on Friday (November 11, 2022).At the discussion, Purba delivered a presentation on "Decarbonizing the ASEAN Way - Harnessing the Collective Actions of ASEAN Private Sectors Driving Net-Zero: Pertamina's Overarching Plan in Decarbonization".He explained that Pertamina as a state-owned energy company has the responsibility to provide energy needs in Indonesia - a country with a population of nearly 300 million people with high energy demand."At the same time, Indonesia has a strong commitment to achieve net zero emissions by 2060, and Pertamina as a state-owned company fully supports this commitment," Purba said."Pertamina has now developed a clear program for efforts to achieve the target of net zero emissions by 2060, even more ... if possible, we want to reach the target faster by 2050," he added.He further added that Pertamina views the energy transition effort as a good opportunity to build a green business.Such a view, according to him, is part of the main mission to ensure the company remains sustainable and grows in line with efforts to fulfill the commitment to achieving net zero emissions through a detailed decarbonization program in accordance with the company's well-prepared NZE roadmap."Pertamina has prepared a decarbonization plan especially for its existing businesses, for instance by reducing gas flaring, using renewable energy in all of our activities both upstream, production sites, shipping transportation and even batteries," Purba pointed out.In addition, regarding the implementation of Environmental Social and Governance (ESG) aspects, Pertamina is currently at the medium risk level and at the second place for the category of the best ESG score in the oil and gas industry, based on Sustainalytics - an ESG rating agency that has conducted assessment towards the company.Meanwhile, stakeholders, investors, rating agencies and insurance companies are also interested in finding out and learning about how Pertamina - as an oil and gas company - manages ESG aspects in its efforts to produce sustainable energy.At the ASEAN Panel Discussion of the COP 27, Purba said that a number of ASEAN countries actually have considerable energy resource potential, such as to produce LNG and gas.He mentioned ASEAN countries that have such a potential including Indonesia, Malaysia, Thailand and Brunei Darussalam.He also revealed that the low carbon energy transition is a very good practice to be implemented by ASEAN countries in order to reduce the carbon footprint in the region.Furthermore, still on the effort of reducing carbon footprint, Purba highlighted that Indonesia owns many forests that have the potential to be utilized in the aspect of nature based solutions."Therefore, collaboration (among ASEAN countries) can be a brilliant idea because each country has a different position and potential so we hope that the collaboration can establish a carbon market in the ASEAN region," he stated."However, this certainly requires concrete steps from all parties so that we can really collaborate together to achieve the net zero emission target," he concluded.Contact: Brahmantya Satyamurti Poerwadi, Corporate Secretary, PT Pertamina (Persero)Email: pcc135@pertamina.com, URL: https://www.pertamina.comWritten by: Yuni Arisandy Sinaga, Editor: Fardah Assegaf (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
HONG KONG, Nov 13, 2022 - (ACN Newswire via SEAPRWire.com) - On the evening of November 11, Beijing time, Legend Capital portfolio company Atour Lifestyle Holdings Limited ("Atour") was officially listed on the Nasdaq Stock Exchange in the United States. It has priced its initial public offering of 4,750,000 American Depositary Shares ("ADSs") at US$11.0 per ADS.Founded in 2013, Atour is a leading hospitality and lifestyle company in China with a distinct portfolio of lifestyle hotel brands, such as A.T. HOUSE, Atour S, ZHOTEL, Atour Hotel, Atour X and Atour Light, as well as scenario-based retail brands, including Atour Market. It has further divided its private labels into three product lines - aTOUR PLANET, SAVHE and Z2GO&CO. As of June 30, 2022, Atour has launched a total of 1,967 SKUs, 62.8% of which are private-label products. According to the prospectus, as of September 30, 2022, Atour has opened 880 hotels, a year-on-year increase of 26%. According to Frost & Sullivan, Atour is the largest upper midscale hotel chain with a diversified brand portfolio in China in terms of room numbers for five consecutive years as of the end of 2021. As an important institutional investor and close partner of Atour, Legend Capital led the investment in Atour in 2016, and continued to make additional investments in Atour's subsequent financing rounds in 2017 and 2021. Following the investment, Legend Capital has continuously supported Atour's development by providing multiple value-added services in terms of development strategy, corporate governance and incentive mechanism, listing work and business resources.Legend Capital said: " The past nine years have witnessed Atour's continuous development since its first hotel opening in 2013. Looking back at the development of China's hotel industry over the past decade, Atour is the only company with precise positioning and bringing changes to China's hotel industry. It has brought a new service standard to the industry. It is also a lifestyle consumer brand providing a warm and happy feeling that can be remembered by customers. Atour's founder and the team are rare talents in the domestic hotel industry. The team is dynamic and young, with over ten years of operating experience in the hotel industry. The listing marks a new milestone for Atour. It is not only an affirmation of the past achievements of Atour, but also an acknowledgment of their tenacity and professionalism. This also reflects the expectation for the future innovation and development of Atour. As Atour's investor, we are proud to be able to participate in and witness its growth."About Legend CapitalFounded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, and Seoul, Korea.It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors. Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative. For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital (https://www.linkedin.com/company/legend-capital). Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
JAKARTA, Nov 11, 2022 - (ACN Newswire via SEAPRWire.com) - State-owned energy company PT Pertamina has prepared some strategies to balance climate resilience and energy security, which include the development of nature-based solutions.Pavilion Indonesia at COP27 UNFCCC, Sharm El Sheikh, Egypt (7/11/2022) (ANTARA FOTO/Saptono/aww)Senior Vice President of Research Technology and Innovation at Pertamina Oki Muraza conveyed this information during a discussion at the Indonesian Pavilion on the sidelines of COP27 in Sharm el-Sheikh, Egypt, on Wednesday (November 9, 2022).During the discussion, Muraza said that Pertamina has declared its commitment to achieving net-zero emissions by 2060, and the commitment is in line with the emission reduction policy promoted by the Indonesian government.As part of the commitment, Pertamina is implementing two main strategies: decarbonizing all of its current businesses and building new businesses based on green and sustainable principles.The decarbonization measures taken by the company have included pushing energy efficiency, zero-flare oil and gas activities, and carbon capture and utilization."Some other measures include increasing green electricity in Indonesia, building the electric vehicle ecosystem, and developing nature-based solutions," Muraza added.He further explained that the nature-based solution policy itself is not something new to Pertamina. However, synergy is needed between nature-based solutions and the energy sector, and both should go hand-in-hand.Nature-based solutions involve short- and medium-term policies that can support the acceleration of climate technology implementation, which is a long-term policy.According to Pertamina, those solutions need to be considered while designing carbon mitigation strategies."So, we have to not only be able to capture carbon dioxide with natural plants, but also produce something... including rubber and renewable hydrocarbon products. In the end, we expect to have other products from nature-based solutions," Muraza said.He highlighted three pillars that need to be considered in the development of nature-based solutions for realizing business resilience amid the challenges posed by climate change. The three pillars are community involvement, biodiversity and conservation, and sustainable economy.In line with these, some vegetations that have potential as nature-based solutions, such as Calophyllum inophyllum and Pongamia pinnata, have been developed since they are beneficial for biofuel development.In addition, the company believes that the development of the mangrove ecosystem can also be a nature-based solution because it could help absorb 264 tons of CO2 per hectare."We have conducted several studies with universities and government institutions on how to promote crops that can provide raw material stocks for green refineries," Muraza said.He also outlined several initiatives, for instance, capturing methane gas, which can be used for power generation and other purposes, for example, as compressed natural gas.In addition, the energy company is also developing other initiatives, including processing liquid waste into biomethane and solid biomass waste into ethanol.Some more initiatives undertaken by Pertamina are the establishment of Carbon Capture and Storage (CCS) centers on the islands of Java, Sumatra, and Kalimantan as well as the development of geothermal utilization in Indonesia.Contact: Brahmantya Satyamurti Poerwadi, Corporate Secretary, PT Pertamina (Persero)Email: pcc135@pertamina.com, URL: https://www.pertamina.comWritten by: Yuni Arisandy Sinaga, Editor: Fardah Assegaf (c) ANTARA 2022 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)