Category: Canada

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SINGAPORE, Nov. 20, 2024 (GLOBE NEWSWIRE) — Verde AgriTech Ltd (TSX: “NPK”) (OTCQX: “VNPKF”) (“Verde” or the “Company”) is pleased to announce the incorporation of Oby Rare Earths Pty. Ltd. (“Oby”) in Australia, which will independently advance the Man of War Rare Earths Project (“MoW”), subject to shareholder approval.

The MoW spin-off would allow Verde to concentrate exclusively on its core business: producing and commercializing low-carbon specialty fertilizers. The Company will hold a Special Meeting of Shareholders on December 20, 2024, to vote on the approval of the Oby spin-off and the distribution of its shares to Verde’s shareholders.

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MoW’s 3,640 meters of diamond core drilling have shown impressive results for magnetic and heavy rare earths in both grade and thickness. For detailed results, please refer to press releases from October 07¹, October 29², and November 18³, 2024.

The Company has commissioned an independent resource calculation, expected to be completed by the end of 2024.

In light of the project’s potential and the substantial investments required for its development, the Board of Directors has decided that it should be pursued by an entity independent of the Company. As a result, Verde established Oby to independently focus on developing the MoW. The word Oby comes from Tupi Guarani. A native Brazilian Indian language and means ‘green’. Both Praseodymium and Neodymium, found in significant quantities at MoW, are bright green when isolated.

The Company decided to incorporate Oby in Australia in order to facilitate a potential IPO on the Australian Stock Exchange (ASX). The ASX has been the most active stock exchange in the rare earths and mining sector over the last few years.⁴ Nevertheless, Oby is evaluating other potential financing alternatives in both private and public markets.

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Reduction of Share Capital

Verde proposes to distribute its interest in Oby to its shareholders through a capital reduction, proportionate to each shareholder’s existing stake. Under this arrangement, each shareholder will receive one share in Oby for every ordinary share they hold in the Company as of a record date and time to be determined by the Board and disclosed via a press release. No payment and no other form of consideration will be required from the shareholders for the proposed distribution.

For more detailed information, please see the Management Information Circular at: https://investor.verde.ag/wp-content/uploads/2024/11/VAL-2024-Extraordinary-General-Meeting-MIC-Nov-11-DMS-cmts_13-Nov-2024.pdf

Appointment of new auditors

In order to save costs without compromising work quality Verde decided to change auditors from Ernst & Young LLP (“EY”) to RSM SG Assurance LLP (“RSM”) as the new independent auditor for the Company.

In the Special Meeting, the change of auditors will also be voted on.

Requested by Verde, EY resigned as the Company’s auditors on 8^th of October, 2024. On behalf of the directors the Company would like to thank EY for the work done and look forward to welcoming RSM as our new auditors.

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This change is being pursued to align with the Company’s evolving business needs and to ensure that we continue to receive high-quality audit services while also optimizing costs. RSM, with its extensive expertise in the agricultural and natural resource sectors, is well-positioned to provide the necessary auditing services.

Special Meeting of Shareholders

The Company will host a Special Meeting of Shareholders on Friday, December 20, 2024, at 09:00 a.m. Eastern Time. Subscribe using the link below to receive the conference details by email.   

The questions must be submitted in advance through the following link up to 48 hours before the conference call: https://bit.ly/2024-ExtraordinaryGeneralMeeting-Questions

About Verde AgriTech

Verde AgriTech is dedicated to advancing sustainable agriculture through the innovation of specialty multi-nutrient potassium fertilizers. Our mission is to increase agricultural productivity, enhance soil health, and significantly contribute to environmental sustainability. Utilizing our unique position in Brazil, we harness proprietary technologies to develop solutions that not only meet the immediate needs of farmers but also address global challenges such as food security and climate change. Our commitment to carbon capture and the production of eco-friendly fertilizers underscores our vision for a future where agriculture contributes positively to the health of our planet.

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Cautionary Language and Forward-Looking Statements

All Mineral Reserve and Mineral Resources estimates reported by the Company were estimated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards (May 10, 2014). These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

This document contains “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. This information and these statements, referred to herein as “forward-looking statements” are made as of the date of this document. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events and include, but are not limited to, statements with respect to:

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Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “plans”, “projects”, “estimates”, “envisages”, “assumes”, “intends”, “strategy”, “goals”, “objectives” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.

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All forward-looking statements are based on Verde’s or its consultants’ current beliefs as well as various assumptions made by them and information currently available to them. The most significant assumptions are set forth above, but generally these assumptions include, but are not limited to:

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Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Many forward-looking statements are made assuming the correctness of other forward looking statements, such as statements of net present value and internal rates of return, which are based on most of the other forward-looking statements and assumptions herein. The cost information is also prepared using current values, but the time for incurring the costs will be in the future and it is assumed costs will remain stable over the relevant period.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates assumptions and intentions expressed in such forward-looking statements. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur as forecast, but specifically include, without limitation: risks related to the court approval process for the debt restructuring; risks relating to variations in the mineral content within the material identified as Mineral Resources and Mineral Reserves from that predicted; variations in rates of recovery and extraction; the geotechnical characteristics of the rock mined or through which infrastructure is built differing from that predicted, the quantity of water that will need to be diverted or treated during mining operations being different from what is expected to be encountered during mining operations or post closure, or the rate of flow of the water being different; developments in world metals markets; risks relating to fluctuations in the Brazilian Real relative to the Canadian dollar; increases in the estimated capital and operating costs or unanticipated costs; difficulties attracting the necessary work force; increases in financing costs or adverse changes to the terms of available financing, if any; tax rates or royalties being greater than assumed; changes in development or mining plans due to changes in logistical, technical or other factors; changes in project parameters as plans continue to be refined; risks relating to receipt of regulatory approvals; delays in stakeholder negotiations; changes in regulations applying to the development, operation, and closure of mining operations from what currently exists; the effects of competition in the markets in which Verde operates; operational and infrastructure risks and the additional risks described in Verde’s Annual Information Form filed with SEDAR in Canada (available at www.sedar.com) for the year ended December 31, 2023. Verde cautions that the foregoing list of factors that may affect future results is not exhaustive.

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When relying on our forward-looking statements to make decisions with respect to Verde, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Verde does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Verde or on our behalf, except as required by law.

For additional information please contact:

Cristiano Veloso, Chief Executive Officer and Founder

Tel: +55 (31) 3245 0205; Email: investor@verde.ag

www.verde.ag | www.investor.verde.ag

______________________________
_{¹ See more: https://investor.verde.ag/high-grade-ionic-absorption-clay-magnetic-rare-earths-mineralization-found-in-verdes-historical-drill-holes/
² See more: https://investor.verde.ag/verdes-assays-of-over-1500m-of-drilling-find-rare-earths-up-to-12487-ppm-treo-and-3357-ppm-mreo/
³ See more: https://investor.verde.ag/verde-reports-up-to-13944-ppm-treo-5222-ppm-mreo-and-213-ppm-dytb/
⁴ Source: https://www.forbes.com/sites/greatspeculations/2019/11/06/australia-may-be-the-saving-grace-for-the-rare-earth-metals-market/}

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NOT FOR RELEASE, DISTRIBUTION, PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

CASCAIS, Portugal, Nov. 20, 2024 (GLOBE NEWSWIRE) — Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) (“Pulsar” or the “Company“), the helium project development company, is pleased to announce that its wholly owned Minnesotan subsidiary, Keewaydin Resources Inc., has signed an agreement (the “Agreement”) with Earthly Labs, a subsidiary of Chart Industries (NYSE: GTLS, market capitalisation approx. USD$7.1 billion), a leading supplier of industrial gas processing plant and equipment. The Agreement outlines a procurement roadmap, specific to Pulsar’s needs, and facilitates access to advanced gas processing technologies, including helium and carbon dioxide capture, essential for servicing a potential production scenario at Pulsar’s flagship Topaz project in Minnesota (“Topaz“).

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The Agreement sets out the following principal terms for how the parties could work together, which would be further detailed in a master services agreement to be entered into:

• Pulsar would agree to purchase the Chart carbon capture solution to capture helium and CO₂ from Topaz, allowing Pulsar to monetise these products, whilst also reducing its emissions
• Under the terms of the agreement, Chart will complete engineering studies and provide helium and CO₂ plant and storage recommendations for Pulsar

Thomas Abraham-James, President & CEO of Pulsar, commented: “We are thrilled to have signed an Agreement with Chart Industries, the gold standard when it comes to gas processing equipment. We look forward to working towards the signing of a master service agreement and utilising this impressive cutting-edge technology. This development is one of great significance for Pulsar, as it is in line with our commitment to realise production at Topaz whilst monetising both its helium and CO₂
products, all while reducing emissions. The additional benefit of Earthly Labs and Chart carrying out engineering studies means that we will reduce third-party costs, while reducing risk and time-to-value.”

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Details of the Agreement

The Agreement states that Keewaydin Resources Inc. and Earthly Labs will work together to enter into a binding agreement under which Earthly Labs will sell its CiCi (Elm) carbon capture solution to Keewaydin Resources Inc. The CiCi (Elm) solution includes CO₂ capture, purification and liquefaction technology, commissioning, and training.

Under the terms of the Agreement, Earthly Labs will complete an engineering study for a CO₂ plant, which will include P&ID and heat, material balance and helium recoveries. Chart will provide recommendations on a helium plant design and CO₂ storage tanks made in Minnesota.

About Chart Industries

Chart Industries is a leading global manufacturer of highly engineered equipment for the energy and industrial gas sectors, offering innovative solutions across the entire liquid gas supply chain. The company excels in developing cutting-edge technologies for gas processing, including helium liquefaction and carbon dioxide capture and utilisation.

Chart’s acquisition of Cryo Technologies has significantly enhanced its capabilities in helium processing, enabling the company to provide complete solutions for liquefying, storing, distributing, and marketing helium, regardless of plant capacity. Their helium liquefaction systems utilise advanced vacuum cold box technology and proprietary processes to achieve unparalleled performance and quality. In the realm of carbon dioxide, Chart offers award-winning technologies through its Sustainable Energy Solutions (SES) and Earthly Labs acquisitions, capable of capturing CO₂ emissions from hard-to-abate industries and converting them into purified, liquid CO₂ for reuse or resale. 

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With a strong commitment to innovation, environmental responsibility, and a global presence spanning over 65 manufacturing locations, Chart Industries proves to be an invaluable partner in gas processing, offering comprehensive, efficient, and sustainable solutions tailored to meet the evolving needs of the industry.

About the Topaz Helium Project

The Jetstream #1 appraisal well was drilled at the Company’s Topaz Helium Project in Minnesota, USA in February 2024. The well successfully flowed helium-bearing gas to surface, with helium concentrations in the range of 8.7 – 14.5%. Following the successful drilling and testing of Jetstream #1, the Company intends to maintain momentum and has accordingly signed a new drilling contract with Capstar Drilling to deepen the well by approximately 500m to fully penetrate the entire interpreted helium-bearing zone. The rig is scheduled to commence drilling in December 2024 with all necessary site improvements and permits in place.

About Pulsar Helium Inc.

Pulsar Helium Inc. is a publicly traded company listed on the AIM market of the London Stock Exchange and the TSX Venture Exchange with the ticker PLSR, as well as on the OTCQB with the ticker PSRHF. Pulsar’s portfolio consists of its flagship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each.

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Further Information:

Pulsar Helium Inc.
connect@pulsarhelium.com  
+ 1 (218) 203-5301

+44 (0)2033 55 9889

Strand Hanson Limited
(Nominated & Financial Adviser and Joint Broker)
Ritchie Balmer / Rob Patrick / Richard Johnson
+44 (0) 207 409 3494

OAK Securities*
(Joint Broker)
Jerry Keen (Corporate Broking) / Henry Clarke (Institutional Sales) / Dillon Anadkat (Corporate Advisory)
info@OAK-securities.com
+44 203 973 3678

BlytheRay Ltd
(Financial PR)
Megan Ray / Said Izagaren
+44 207 138 3204                                                 
pulsarhelium@blytheray.com

*OAK Securities is the trading name of Merlin Partners LLP, a firm incorporated in the United Kingdom and regulated by the UK Financial Conduct Authority. 

Chart Industries Investor Contact:
John Walsh
SVP, Investor & Government Relations
770-721-8899
john.walsh@chartindustries.com

For further information visit:

https://pulsarhelium.com

X https://x.com/pulsarhelium 

LinkedIn https://ca.linkedin.com/company/pulsar-helium-inc

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.

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This press release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release.

TORONTO — DREAM UNLIMITED CORP. (TSX:DRM) (“Dream” or the “Company”) today announced the closing of its previously-announced sale of Arapahoe Basin (“Arapahoe Basin” or the “Resort”), our ski area in Colorado, to Alterra Mountain Company (“Alterra”). Based on today’s exchange rate and internal estimates of taxes payable, management believes this results in after-tax profit of approximately $115 million after closing costs and adjustments.

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“Arapahoe Basin has been a great investment for Dream and one that we are very proud of,” said Michael Cooper, Chief Responsible Officer of Dream. “We have had the honour of taking care of this Resort over the last quarter century, with a constant commitment to the visitor experience. We are thrilled that Alterra recognizes and shares the same values and will continue to foster its unique and incredible culture. The closing of this transaction greatly improves our financial flexibility and allows us to significantly reduce our debt load while rewarding our shareholders through a special dividend for making the choice to continue to hold our stock.”

Dream acquired Arapahoe Basin in 1997, at a time when the Resort only had 490 skiable acres. Over the last 27 years, together with the Arapahoe Basin management team, Dream expanded the ski area to 1,428 acres, replaced all of the lifts and most of the buildings and opened the two highest elevation restaurants in North America, Il Rifugio and Steilhang Hut.

The management team, including Alan Henceroth, Chief Operating Officer of Arapahoe Basin, will continue to lead the ski area into the future and maintain the values and brand that we are so proud to have been a part of. Alterra, a world class ski resort operator with a proven track record of investing in its resorts while maintaining their distinctive cultures, is in a strong position to continue to grow the customer experience, increase the Resort’s offerings, and build on the culture of the ski area.

The proceeds will be partially directed at repaying over $100 million of debt and maintaining financial flexibility, while a portion will be returned to shareholders through a special dividend of $1.00 per Class A Subordinate Voting Share and Class B Common Share, payable on December 31, 2024 to shareholders of record on December 13, 2024.

The dividends are designated as eligible dividends for the purposes of section 89 of the Income Tax Act (Canada).

About Dream Unlimited Corp.
Dream is a leading developer of exceptional office and residential assets in Toronto, owns stabilized income generating assets in both Canada and the U.S., and has an established and successful asset management business, inclusive of $26 billion of assets under management across four Toronto Stock Exchange listed trusts, our private asset management business and numerous partnerships. We also develop land, residential and income generating assets in Western Canada. Dream expects to generate more recurring income in the future as its urban development properties are completed and held for the long term. Dream has a proven track record for being innovative and for our ability to source, structure and execute on compelling investment opportunities. For more information, please visit our website at www.dream.ca.

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Forward-Looking Information

This press release may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “would”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, or “continue”, or similar expressions suggesting future outcomes or events. Some of the specific forward-looking information in this press release may include, among other things, the timing of special dividend, expected use of proceeds from the sale of the Resort, anticipated repayments of debt, anticipated distributions to shareholders, our future strategic plans for our other assets, expected future debt levels and liquidity, our ability to maximize shareholder value, and the future operations, offerings, management team, customer experience and culture of the Resort. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dream’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These assumptions include, but are not limited to: our ability to satisfy closing conditions, including regulatory approvals; that inflation will remain in line with expectations; that general economic and business conditions remain in line with expectations, including unemployment levels and interest rates, positive net migration, oil and gas commodity prices; our business strategy, including geographic focus; anticipated sales volumes; and the performance of our underlying business segments. Risks and uncertainties include, but are not limited to, general and local economic and business conditions; inflation or stagflation; the risk of global medical pandemic, including resulting government measures; employment levels; risks associated with unexpected or ongoing geopolitical events, including disputes between nations, terrorism or other acts of violence, international sanctions and the disruption of movement of goods and services across jurisdictions; regulatory risks; mortgage and interest rates and regulations; environmental risks; consumer confidence; seasonality; adverse weather conditions; construction material shortages; adverse changes to purchasers financial conditions; reliance on key clients and personnel and competition. All forward-looking information in this press release speaks as of November 19, 2024. Dream does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required by law. Additional information about these assumptions and risks and uncertainties is disclosed in filings with securities regulators filed on SEDAR+ ( www.sedarplus.com).

View source version on businesswire.com: https://www.businesswire.com/news/home/20241118100958/en/

Contacts

For further information, please contact:

Dream Unlimited Corp.

Meaghan Peloso
Chief Financial Officer
(416) 365-6322
mpeloso@dream.ca

Kim Lefever
Director, Investor Relations
(416) 365-6339
klefever@dream.ca

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ROUYN-NORANDA, Quebec, Nov. 19, 2024 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchanges
and GLBXF – OTCQX International in the US) is pleased to report that Emperor Metals Inc. (AUOZ-CSE, EMAUF-OTCQB, 9NH-FSE) “reports positive metallurgical results from initial testing on the Duquesne West gold deposit” under option from Globex.

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Testing, which was undertaken in 2024, focused on replacement style mineralization and low-grade bulk tonnage style mineralization within the quartz-feldspar-porphyry. Eighty-seven (87) drill core composites through key mineralized zones were gathered into five (5) composites, representing approximately 73.4 metres of drill core.

Average weighted gold extraction in replacement style mineralization ranged from 90% to approximately 100%. The average of all five samples being 90%. Recovery in quartz-feldspar-porphyry ranged from 76% to approximately 100% with the variability likely due to the low grade and nuggety nature of the mineralization. The average recovery was 88%.

Test work confirmed that the mineralization from Duquesne West can be processed using conventional gravity separation and carbon-in-leach technology. Detrimental elements that consume cyanide and oxygen were not found in quantities that could be an issue for future metallurgical processes.

CEO John Florek commented “Investors can feel confident that this deposit has all the key attributes for successful future extraction. As we continue to explore, expand, and discover the full potential of this deposit, we are very encouraged about our upcoming mineral resource estimate expected in Q1 of 2025, stay tuned”.

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Globex is pleased with the progress by Emperor to date and looks forward to additional drill results from their recently completed 19-hole drill program and their Q1, 2025 mineral resource estimate. Click to access today’s Emperor Metals press release.

This press release was written by Jack Stoch, P. Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.

Forward Looking Statements: Except for historical information, this news release may contain certain “forward looking statements”.  These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. (“Globex”).  No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom.  A more detailed discussion of the risks is available in the “Annual Information Form” filed by Globex on SEDAR at www.sedar.com.

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