Moolec Science Presents First Quarter Fiscal Year 2024 Business Update

Luxembourg, Dec 14, 2023 – (ACN Newswire) – Moolec Science SA (NASDAQ:MLEC), a science-based food ingredient company focused on producing animal proteins in plants through Molecular Farming technology, announced today its Business Update for the first quarter of Fiscal Year 2024 ended September 30, 2023.

The main highlights of Moolec’s business update are as follows:

– GLASO: Moolec harvested 35 hectares with a yield of 1.8 tons per hectare. Currently, the company is preparing for the next campaign getting closer to commercialization.

– SOOY1 | Piggy SooyTM Platform: Moolec’s soybeans have been propagated to the next generation (T3) and T3 seed analyses confirmed high levels of porcine myoglobin protein for a second consecutive generation.

– Moolabs: Moolec’s self-owned Molecular Biology Lab at Texas A&M University’s Bioscience Business Accelerator has been successfully set¬up and is fully operational.

– Financial highlight: Revenue increased 92% QoQ to $1.74 million given full quarter consolidation of acquired business and higher volume and prices. Lower COGS impact given stable soy origination and more favorable local market conditions. Low cash utilization of ~$1.74 million remains in line with historical track record.

“We are pleased to report a solid business update. I commend our team’s efforts to succeed in all facets of R&D. Moreover, we are encouraged by the progress made on the scientific development of products, which address an attractive opportunity to bring new integral and sustainable solutions to the food market and beyond,” stated Gaston Paladini, Chief Executive Officer and co-founder of Moolec Science.

“We are happy to share the financial progress for the first quarter of fiscal year 2024,” said José Lopez Lecube, Chief Financial Officer of Moolec Science. He then continued by saying, “While we focus our resources on the scientific front, we are also pleased to see the progress in our ‘R&D and Commercial Center’ generating revenues and providing a centralized location for pilot runs of our promising portfolio of R&D projects.”

For a full version of Moolec’s first quarter Fiscal Year 2024 Business Update, click here.

Management will host a Conference Call and question-and-answer session, which will be accompanied by a presentation available during the webinar.

For a full version of Moolec’s first quarter Fiscal Year 2024 Business Update, click here.

Management will host a Conference Call and question-and-answer session, which will be accompanied by a presentation available during the webinar.

To access the call, please use the following information:

– Date: Thursday December 14, 2023
– Time: 08:30 a.m. ET
– Link to join the webinar: https://icrinc.zoom.us/j/98069578649?pwd=bHNaQnI0RXRUZ2l0RFR2VU8wQnZidz09
– One tap mobile: +13017158592,,98069578649#,,,,*881714# US
– Dial In: +1 301 715 8592 US | Webinar ID: 980 6957 8649, Passcode: 881714
– International numbers available:https://icrinc.zoom.us/u/abCKbnCHri

Please connect 5 minutes prior to the start time to register and join.

A recording of the call and the pdf version of the presentation will be available approximately two hours after the conclusion of the live event via Moolec’s Investor Relations website.

About Moolec Science SA

Moolec is a science-based ingredient company leader in the use of Molecular Farming technology for food. The Company’s mission is to create unique food ingredients by engineering plants with animal protein genes. Its purpose is to redefine the way the world produces animal-based food, for good and for all. Moolec’s technological approach aims to have the cost structure of plant-based solutions with the organoleptic properties and functionality of animal-based ones. Moolec’s technology has been under development for more than a decade and is known for pioneering the production of a bovine protein in a crop for the food industry. The Company’s product portfolio and pipeline leverages the agronomic efficiency of broadly used target crops, like soybean and safflower. Recently, it acquired plant-based ingredient capabilities to consolidate Molecular Farming Technology. Moolec has a growing international patent portfolio (26, both granted and pending) for its Molecular Farming technology. The Company is run by a diverse team of Ph.Ds and Food Insiders, and operates in the United States, Europe, and South America.

Forward-Looking Statements

This press release contains “forward-looking statements.” Forward-looking statements may be identified by the use of words such as “forecast,” “intend,” “seek,” “target,” “anticipate,” “believe,” “expect,” “estimate,” “plan,” “outlook,” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements with respect to performance, prospects, revenues, and other aspects of the business of Moolec are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors, about which we cannot be certain. We cannot assure you that the forward-looking statements in this press release will prove accurate. These forward-looking statements are subject to a number of significant risks and uncertainties that could cause actual results to differ materially from expected results, including, among others, changes in applicable laws or regulations, the possibility that Moolec may be adversely affected by economic, business and/or other competitive factors, costs related to the scaling up of Moolec’s business and other risks and uncertainties, including those included under the header “Risk Factors” in the Moolec’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”), as well as Moolec’s other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should any of Moolec’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Accordingly, you should not put undue reliance on these statements.

Contacts:
Press & Media inquiries | Catalina Jones: comms@moolecscience.com
Investor Relations inquiries: ir@moolecscience.com | Michael Bowen, ICR, LLC: MoolecIR@icrinc.com

Contact Information
Catalina Jones
Chief of Staff & Sustainability
comms@moolecscience.com

Investor Relations
ir@moolecscience.com

Michael Bowen
ICR, LLC
moolecir@icrinc.com

View the original press release on newswire.com.

HKTDC Export Index 4Q23: 4-6% expected growth for Hong Kong exports in 2024

HONG KONG, Dec 14, 2023 – (ACN Newswire) – Hong Kong exports are expected to grow by 4% to 6% next year – a sharp contrast to the 11% decline in the city’s export levels recorded for the period between January and October this year.

This optimistic outlook is driven by the significant increase in demand for electronic components, partly on account of growing demand for AI-enabled devices and other finished products, which play a crucial role in boosting the city’s prospects.

Commenting on the likely upturn in Hong Kong’s export performance, Hong Kong Trade Development Council (HKTDC) Director of Research Ms Irina Fan said: “The unique properties of Hong Kong’s electronics-orientated export economy make it almost ideally positioned to take full advantage of the imminent rebound in demand for high-tech components.”

The Hong Kong Export Outlook forms part of the review of the city’s export prospects conducted annually by HKTDC Research. This wide-ranging review takes into account a wide array of factors, including many key global, regional and local economic indicators.

Light at the end of the tunnel

Despite many of the factors restraining Hong Kong’s 2023 export growth likely to remain in place next year, HKTDC Research’s confidence is based on the widespread acknowledgment that the electronics sector – which accounts for 70% of all of Hong Kong’s exports – is expected to enjoy rapid growth in 2024, partly on account of growing consumer and business demand for AI-enabled PCs.

“Demand in this sector is certain to bolster the local economy overall, ensuring that Hong Kong’s wide exporter base will be fully ready and adequately resourced to take advantage of wider global economic recovery, which is expected to come to fruition over the course of 2025,” she added.

Continuously softened sentiment in the near-term

Export growth is set to come after continuously softened export sentiment this year. The HKTDC Export Index contracted 5.5 points to 35 in the fourth quarter of 2023, indicating Hong Kong exporters have become more cautious amid rising geopolitical tensions, in particular the Israel-Gaza conflict, and sluggish external demand.

Exporter sentiment has declined across four of the six major industry sectors. Machinery at 40.3 (up 0.9 points) was one of the better-performing sectors, followed by electronics at 34.8 (down 6.0 points). Less optimistically, toys suffered the most substantial decline, falling 12.8 points to 29.4.

Based on a quarterly HKTDC survey of 500 exporters from six major industries – clothing, electronics, jewellery, machinery, timepieces and toys – the index above 50 indicates an optimistic outlook and below 50 pessimistic.

India, Taiwan and Mainland China markets promising

Sentiment in all key export markets remains below 50. However, sentiment towards India (42.7, up 10.1 points) is the most positive, followed by Taiwan (42.5, up 4.8 points) and Mainland China (39.5, up 0.9 points). Meanwhile, exporters were less confident, when it came to their export prospects to the EU (34.6, down 2.6 points) and the US (33.6, down 2.8 points).

Economic risks and geopolitical tensions concerns

Looking ahead, economic risks remain the top concern for 2024. The majority (84.7%) of respondents saw economic slowdowns or recession risks in overseas markets as the major challenge, followed by ongoing geopolitical tensions (62.5%) and rising transport costs / disruption to logistics and distribution obstructions (41.8%).

Ensuring sufficient cash flow clearly stands out as the focus for next year, with over half of the exporters intending to adopt cash flow management, significantly more than in the last survey in the third quarter this year (32%). More exporters also aim to maintain competitiveness by providing a wider range of value-added services (44.5%) and increasing marketing and promotional activities (41.2%).

HKTDC Research Principal Economist Mr Wing Chu said in addition to the common strategy of cash flow management, different industries favour various approaches. “For example, businesses in the electronics, timepieces and machinery sectors are keen to increase marketing, promotion or business matching in the coming year. Those in jewellery and clothing sectors, meanwhile, are more inclined to prioritise the use of e-commerce to drive sales growth,” he added.

References
– Hong Kong’s Export Outlook 2024: Modest Electronics-Led Recovery Now Anticipated
https://research.hktdc.com/en/article/MTU2MDQ4MjM3Mg
– HKTDC Export Index 4Q23: HKTDC Export Index 4Q23: Soft export sentiment amid rising concern of economic risk
https://research.hktdc.com/en/article/MTU1Njk2OTg3Ng
– HKTDC Research website: https://research.hktdc.com/en/

Photo download: https://bit.ly/41jZQb5

HKTDC Director of Research Ms Irina Fan (left) and Principal Economist Mr Wing Chu (right) announced the Hong Kong’s Export Outlook 2024 and the HKTDC Export Index for the fourth quarter of 2023 at a press conference today

HKTDC Director of Research Ms Irina Fan

HKTDC Principal Economist Mr Wing Chu

Media enquiries
Please contact the HKTDC’s Communication and Public Affairs Department:
Jane Cheung
Tel: (852) 2584 4137
Email: jane.mh.cheung@hktdc.org

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

6 Best Citibank Investment Products You Should Invest In

SINGAPORE, Dec 14, 2023 – (ACN Newswire) – Saving up may be the first step to financial freedom, but that is certainly not the be-all and end-all. With rising inflation, the value of your savings could be diminished over time, resulting in a loss in purchasing power. Hence, investing is essential to hedge against inflation and help to achieve your financial goals through asset appreciation and compounding.

Here are some investment options offered by Citibank Singapore to kickstart your investment journey.

Citibank Investment Products You Should Invest In

1. Unit Trusts

A Unit Trust is a type of mutual fund that pools and invests capital from investors in a portfolio of assets according to the fund’s strategy. With Citi Unit Trusts, you can begin diversifying your portfolio with a minimum investment amount as low as S$100 a month, making it ideal for beginner investors. Since Citi Unit Trusts are handled by a professional fund manager, you can take advantage of investment opportunities with peace of mind. You also have the flexibility to track and manage your Unit Trusts on Citibank Online and Mobile.

2. Citibank Brokerage (Equity Trading)

If you prefer a hands-on investment approach, consider applying for a Citibank Brokerage account. With a Citibank Brokerage account , you can leverage investment opportunities in the U.S., Singapore and Hong Kong markets at low commission rates. Additionally, you will get access to the Thomson Reuters (TR) Stock Analytics tool, which allows you to make informed investment decisions with stock market insights and analysis.

3. Citibank Premium Account

The Citibank Premium Account is a dual currency investment account that allows the bank to repay your principal and earned interest in either the base currency or the alternate currency. If do not have a preference for receiving your money in either currency, hold the perspective that your two chosen currencies have a relatively stable exchange rate, or wish to hold on to a specific currency that appears to be weakening, the Citibank Premium Account may be a suitable investment option.

4. Fixed Income Securities

Fixed Income Securities are debt instruments that pay investors fixed interest. Through Citibank, you can diversify your portfolio and access alternative asset classes by investing in a selection of Bonds and Structured Notes.

5. Foreign Exchange (FX)

The Citibank Online Foreign Exchange (eFX) platform allows investors to instantly execute limit orders when the exchange rate aligns with the desired rate and access real-time foreign exchange rates. If you have international investment portfolios and wish to prevent currency exchange losses, consider depositing your funds into a foreign currency account. Citi eFX’s analytical and rate alert tools will assist you in making informed currency trading decisions.

6. Regular Savings Plan (RSP)

The Citibank Regular Savings Plan allows investors to leverage investment opportunities by contributing a fixed monthly amount from as little as S$100. Built upon the Dollar Cost Averaging approach, the Regular Savings Plan allows investors to purchase more units when prices are low and less when prices are high. As such, investors can benefit from market fluctuations in the long run without having to time the market.

Before investing in any investment product, it is essential to do your due diligence and understand the associated risks. Consider seeking the assistance of a professional wealth advisor to create a diversified investment portfolio aligned with your long-term financial objectives.

Citi Singapore

Citi Singapore is a full-service bank offering consumers, corporations, governments and institutions in Singapore with a broad range of financial products and services. It is one of the largest foreign banking employers in Singapore and a significant hub for Citi globally.

The content reflects the view of the article’s author and does not necessarily reflect the views of Citi or its employees.â€¯Please read the products and offers on the Citi Singapore website forâ€¯accuracy or completeness of the information presented in the article.â€¯

Contact Information
Sonakshi Murze
Manager
sonakshi.murze@iquanti.com

Spritzer Unleashes “Sparkling New Year Aspirations” – A Distinctive New Year Campaign

KUALA LUMPUR, Dec 14, 2023 – (ACN Newswire) – SPRITZER BERHAD is thrilled to announce the debut of its latest palate enticing product, Spritzer Sparkling Lemon at its campaign “Kelas Tersendiri: Kesegaran Semula Jadi” (“Class of Its Own: Naturally Refreshing”). The unveiling event will take place at a roadshow at Piazza, The Starhill, Bukit Bintang, running from 13th to 26th December 2023, between 10:00 a.m. and 10:00 p.m.

Spritzer Sparkling Lemon (Image link)

Spritzer Sparkling Lemon marks Spritzer’s first flavour extension of carbonated natural mineral water range by the Company since December 2022 rebrand launching of the new packaging under the campaign of “Kelas Tersendiri” (Class of Its Own). The health-conscious choice of beverage boasts zero sweeteners, zero calories, and naturally rich in silica mineral. The drink combines the essence of natural lemon flavours with the effervescence of natural mineral water sourced from the 130-million-year-old rainforest in Taiping, Perak.

Model, Actor and Singer, Meerqeen, the Ambassador of Spritzer Sparkling is synonymous with stellar performances which are Kelas Tersendiri (Class of Its Own). Both Meerqeen and Spritzer Sparkling encourage everyone to be in a class their own in 2024.

The highlight of the event, “Sparkling New Year Wishes”, provides participants a unique opportunity to reflect on the year 2023 and set new aspirations for the upcoming year together with their loved ones and friends. The event will feature a visually stunning 4-meter-tall Spritzer Sparkling Lemon bottle adorned with screen and LED lights for patron wishes to be displayed, as well as an elegantly lit Christmas tree with a sustainability theme, crafted from Spritzer Sparkling’s distinctive green bottles – both providing the perfect backdrop for Instagram-worthy memories.

At the Engagement Activity – Moment 1, share your New Year wishes of love and hope. Tell your friends how much they mean to you, hint at a marriage proposal or simply send a happy message to the world. All wishes appearing on the giant LED screen comes with a uniquely personalised bottle of Spritzer Sparkling.

In addition to Personalize Your Own Spritzer Sparkling Bottle!, participants can test their quick response skills by participating in the “Catch the Falling Lemons” game, and redeem a complimentary drink made from Spritzer Sparkling x Monin, a halal multi-flavored French syrup brand, at the “Play, Redeem a Free Drink & Chill” activity.

Last but not least, participants can engage in sharing their moments by uploading a photograph or video from the Spritzer Sparkling event on Instagram, tagging @spritzersparklingmy, for a chance to receive a mystery gift through Spritzer’s “Snap, Tag & Get!” activity.

Indulge in the holiday spirit and New Year aspirations at Spritzer’s “Sparkling New Year Wishes.” Don’t miss the chance to experience the unique, zero-sweetener, zero-colouring, zero-calories, and silica-rich Spritzer Sparkling Lemon, promising excitement with every refreshing sip. Get creative and mix it with your favourite drink for a personalized touch!

For more information about Spritzer Sparkling (@spritzersparklingmy) on Instagram
Spritzer YouTube: https://www.youtube.com/@SpritzerGroup
Spritzer Ambassador Meerqeen, Kesegaran Semulajadi: Spritzer Sparkling Lemon! – YouTube: https://www.youtube.com/watch?v=6J9zp92dYp8
Spritzer Website: https://www.spritzer.com.my/

About Spritzer Sparkling

Spritzer Sparkling fizzes with sparkles and promises more fun and excitement in every refreshing sip. It blends delightfully well with fruit punches and any specialty drinks of your choice. Spritzer Sparkling is indeed a natural & lifestyle drink made with natural mineral water. And now, introducing a new level of zest – Spritzer Sparkling is available in the invigorating Lemon flavor! Elevate your beverage experience with the crisp and refreshing taste that defines Spritzer Sparkling.

Culture Capital Makes Its Debut on the NASDAQ Tower Billboard with the Launch of Its Services in Asia

NEW YORK, Dec 14, 2023 – (ACN Newswire) – Culture Capital made its debut on the NASDAQ Tower Billboard in New York’s Times Square with the launch of its services in Asia, on December 2nd, 2023.

The new advertisement introduces Culture Capital, a CFD exchange. Based in the International Trade District of Dubai, Culture Capital has primarily provided services in Asia.

The company’s vision centers on the belief that “fair conditions create fair profits.” Its business objective is to contribute to the growth of the global financial market by providing clients with superior financial services, thereby fostering mutual growth.

Unlike many exchanges that impose exorbitant fees for abnormal profits, Culture Capital pledges to lead the market in offering fair trading opportunities to everyone with its industry-low fees and consistently stable services.

James, the representative of Culture Capital, announced that the company’s expansion into the U.S. market is particularly meaningful. He stated their commitment to becoming a brokerage firm that can offer various benefits to clients through healthy competition in a larger market. This move into the U.S. market is a significant milestone, signaled by their presence in Times Square’s Nasdaq Tower. Following this, an advertisement will be displayed at the Citadium in Paris, France, starting on January 1, to mark the new year.

About Culture Capital

Culture Capital has revealed plans to extend its services beyond Asia, reaching North and Central America and Europe. Culture Capital, located in Dubai, UAE, is a brokerage firm providing services in CFDs and commodities. Founded on the expertise and technological prowess of world-renowned financial and IT professionals, Culture Capital LLC stands as a testament to excellence in the industry.

Media Contact
Brand: Culture Capital
Contact: Marketing Team
Email: support@culturecapitalth.com
Website: https://culturecapitalth.com

CEDEN Forms a Joint Venture With Josh McLean of Kanpai Studios to Acquire Raini Studios

ROAD TOWN, United British Virgin Islands, Dec 14, 2023 – (ACN Newswire) – CEDEN Network Ltd, in partnership with Kanpai Studios, has completed a total acquisition of Unicorn Interactive Limited DBA Raini Studios, a full-service Web3 gaming studio and publisher of The Lords of Light digital trading card game – which is one of the very few games in the digital collectibles space available on the Epic Games platform.

Bigger Team, Bigger Vision

RJV International DBA Raini Studios, the new BVI-based joint venture, will continue the legacy of Raini by growing and promoting The Lords of Light and the $RST ecosystem via new publishing channels, increased marketing focus, and an expanded development team. The new studio is set to expand the scope of the Raini ecosystem beyond a single title and the narrow niche of a crypto-centric gaming audience, with a second game already in an early development phase since the acquisition.

CEDEN Chief Executive Alex Moody will assume day-to-day operational leadership of the new studio, serving as Managing Director, with gaming industry legend Mike Haller serving as Head of Gaming. Haller is best known for anime film titles such as Akira and Ghost in the Shell, leading the teams that created titles such as Medal of Honor and Def Jam Vendetta at Dreamworks and EA and winning Fighting Game of The Year multiple times with his WCW and WWE titles at THQ. Haller will be leading the Raini development team in the production of the studio’s second game title.

The Rights to Fight: Having secured rights to one of the leading combat entertainment IPs in the world, this unannounced title draws on the extensive experience of the entire newly formed team, is already in production, and is slated to release in 2024.

“The Lords of Light is an incredible TCG with great balance, visual appeal, and replayability,” according to Haller, “and we look forward to continuing that legacy with The Lords of Light and growing the studio on a global stage with our next title.”

LayerZero:

Marty Burgess of Raini Studios said, “When implementing our new $RST token, we knew from the outset we wanted to work with LayerZero to enable a seamless cross-chain experience for the user, including cross-chain migration from $RAINI to $RST, and to enable future interoperability when new opportunities arose. Since then, we’re also testing a LayerZero [L0] proxy for all of our existing Collectable Cards and Collectable Packs, giving our community true ownership of their digital goods and a simple UX for moving assets wherever they want.”

Web3 Gaming

Josh McLean of Kanpai Studios said about the deal, “The gaming sector is clearly going to be the hottest space in the coming years. The opportunity to purchase an exceptional studio that I have been involved with already for years is a no-brainer. This deal opens doors for Kanpai Studios that were not previously explored and deepens our Web3 integrations while delivering direct value to panda holders. We can now significantly expand the entertainment offerings across the combat and culture space within the PPDEX in 2024 and beyond.”

Raini Studios’ debut title The Lords of Light was the first game to launch on Beam by Merit Circle, a gaming-centric subnet of the Avalanche blockchain. ”Raini Studios crafted a robust TCG and ecosystem. With the upcoming mobile version, we believe The Lords of Light is now ready for a wider audience. We’re thrilled about this acquisition, applauding their dedication to honor the existing ecosystem and their commitment to enhancing it with a new title. We are very excited to witness their joint development and marketing efforts,” said Marco van den Heuvel, co-founder and CGO at Merit Circle.

More details on the future of Raini Studios will be coming soon.

About Raini Studios: Raini Studios is a full-service Web3 gaming studio and publisher of The Lords of Light digital trading card game – which is one of the very few games in the digital collectibles space to be available on the Epic Games platform.

Play The Lords of Light • Purchase $RST • Website • Twitter • Telegram • Medium

About CEDEN Network Ltd: CEDEN is building an infrastructure ecosystem to revolutionize how interactive entertainment is created and distributed. This includes tools and support for independent creators to democratize content creation, as well as the CEDEN Network, a revolutionary Digital Collectible Node Network that decentralizes content delivery for gamers and creatives.

It’s time to move beyond the machine.

Website • Twitter • Discord • Medium

To learn more about Kanpai Studios, please email alex@ceden.network

Contact Information:
Alex Moody alex@ceden.network

Over Three Quarters of Consumers Believe the Gifting Season Leads to ‘Wasteful Behaviour’ – Eviosys’ Survey Highlights Consumer Shift Towards Sustainable Packaging

ZUG, SWITZERLAND, Dec 14, 2023 – (ACN Newswire) – For the second year, metal packaging giant Eviosys has commissioned a Europe-wide survey of consumers’ sentiment towards packaging. The European leader surveyed 2,000 consumers in the UK, France, Germany, and Spain to get the latest information on priorities in this time of economic uncertainty, especially during the festive season.

The survey’s compelling data underlines the increasing importance consumers place on packaging when making purchasing decisions. Notably, 87% of people think that the gifting season leads to wasteful behaviour, and 48% of respondents acknowledge that they often consider packaging materials when shopping, highlighting a heightened awareness of the environmental impact of packaging materials.

The frustration with the prevalence of plastic in supermarkets is palpable, with 59% expressing discontent. This translates into tangible action, as 57% of consumers said they would pay more for products in sustainable packaging. Notably, 63% of respondents perceive metal as a more sustainable option than plastic. This continued mindset shift towards metal means the industry has an opportunity to capitalise and make a positive change to the market.

The survey also highlights the strong appeal of metal packaging, particularly its infinitely recyclable nature. 82% of respondents said that they would be more likely to purchase a product in metal packaging, given its recyclability.

As environmental concerns continue to rise, 66% of respondents feel that companies are not doing enough to tackle plastic pollution. In contrast, 61% view companies adopting metal packaging as taking a crucial sustainability step. With more than half of Europeans citing cost of living as their primary concern (56%), 78% acknowledge that cost would influence their decision to purchase a gift item.

In the realm of gifting, 48% of consumers express that the ability to reuse or refill the product influences their decisions, even outweighing considerations of luxury or design. 94% of respondents already reuse their gift tins, with popular choices including storing decorations (51%), storing food (47%), storing jewellery (38%), and as a base for DIY projects (26%).

While glass remains an essential element for premium packaging for 42% of respondents, metal closely follows at 38% highlighting that it’s a strong preference for consumers around the festive season.

Laetitia Durafour, Marketing Director, Eviosys said: “Eviosys stands firm in our mission to help brands address consumers’ expectations by spearheading sustainable, recyclable metal packaging solutions. We’re not merely witnessing a shift in consumer preferences; we’re actively shaping a future where responsible choices define our packaging landscape, reflecting the growing commitment toward a more eco-conscious society.”

Contact Information
Maisie Jenyon
PR Manager
eviosysuk@grayling.com

Persistence Resources Announces Details of Proposed Listing on the Main Board of HKEX

HONG KONG, Dec 14, 2023 – (ACN Newswire) – Persistence Resources Group Ltd. (“Persistence Resources” or the “Group”), the third largest gold miner(1) in Shandong Province, China, has announced the details of the proposed listing of its shares on the Main Board of The Stock Exchange of Hong Kong Limited (“HKEX”) under the stock code 02489.

Offering Details

The Group plans to offer a total of 500,000,000 shares (subject to the over-allotment option), of which 450,000,000 are international offer shares (subject to reallocation and the over-allotment option) and 50,000,000 are Hong Kong offer shares (subject to reallocation). The indicative offer price per offer share ranges from HK$0.55 to HK$0.75. After deducting the underwriting fees and other estimated expenses relating to the global offering, and assuming that the over-allotment option is not exercised and the offer price is set at HK$0.65 per share (being the mid-point of the indicative offer price range), the aggregate net proceeds from the global offering are estimated to be HK$265.0 million.

The Hong Kong public offering will commence at 9:00 a.m. on 14 December 2023 (Thursday) and end at noon on 19 December 2023 (Tuesday). The final offer price and allotment results will be announced on 21 December 2023 (Thursday). Trading in the shares of Persistence Resources is expected to commence on the Main Board of the HKEX on 22 December 2023 (Friday) under the stock code 02489. The shares will be traded in board lots of 5,000 shares each.

Innovax Capital Limited is the Sole Sponsor, and Innovax Securities Limited is the Overall Coordinator, Sole Global Coordinator, Joint Bookrunner and Joint Lead Manager of the listing.

Investment Highlights

Open-pit mine Production cost advantage

The Group owns two gold mines in the Muping-Rushan gold metallogenic belt in Shandong Province, a major gold producing province. One of the mines is Songjiagou Open-Pit Mine, with a permitted annual mine production volume of 900.0 kt and a life of mine (LoM) of approximately 8.5 years; and the other is Songjiagou Underground Mine, with a permitted annual mine production volume of 90.0 kt and a LoM of approximately 6.0 years.

According to the SRK Report, the level of capital required and the cost structure for operating an underground mine is different from that of an open-pit mine. This is because the former requires the construction of underground mining infrastructure and the procurement of equipment to conduct underground excavation activities, as well as other structural and fixed costs. Therefore, the production cost of open-pit mines is usually lower than that of underground mines. According to a report by Frost & Sullivan, approximately 95% of all gold mines in China involve underground mining and the total production cost of gold mining in China was approximately RMB298.0 per gram in 2022.

Most of the Group’s gold is produced at Songjiagou Open-Pit Mine, which helps to keep the production cost below the industry average. The Group’s average production cost last year was approximately RMB186.3 per gram.

Excellent geographical location Sound infrastructure

Songjiagou Open-Pit Mine and Songjiagou Underground Mine are in close proximity to each other, approximately 400 meters apart, and only four kilometers away from the Group’s ore processing plant, allowing the Group to centralize its business management. The plant covers an area of approximately 0.9 hectares and has an annual ore processing capacity of approximately 2,000 kt. It is only two km away from a tailings dam and around 50 km from the port of Yantai, making it very conveniently located.

The tailings dam was designed as a valley type with a total elevation of +160 meters above sea level and a total storage capacity of approximately 42.2 million m3 and an effective storage capacity of approximately 30.0 million m3. As of 30 June 2023, the existing production capacity can support 10 years of production.

Experienced management team Elite technical team

Persistence Resources is led by Dr. SHAO Xuxin, its Chairman, Executive Director and Chief Executive Officer. The senior management team has an average of more than 30 years of experience in mining operations and management. The Group also has a strong technical team that has successfully developed new mines and transformed them into actual mining and gold producing assets, enabling Persistence Resources to become the third largest gold mining company in Shandong Province in 2022.

Dr. Shao holds a Ph.D. in mineral processing and has extensive experience in ore processing, mining-related finance and investment management. The Group’s technical team is led by Mr. Huang Yong, the 2006 recipient of the China Nonferrous Metals Industry Science and Technology Award, who is a qualified mineral resource/reserve appraiser accredited by the Ministry of Land and Resources of the PRC, with more than 40 years of experience in mine design and mining consultancy. The technical team also includes 10 mining operations engineers and geologists with an average of more than 15 years of mining operations and management experience, who are able to effectively implement gold grade control and production management and improve operational efficiency.

Future Growth Strategies

Acquire surrounding gold mines to increase market share

The Group plans to expand its mineral resources and increase the gold concentrate processing capacity of its ore processing plant by acquiring high-quality gold mining assets. The criteria for acquisition targets include mines located in Shandong Province with potential gold resources of at least 10 tonnes at a depth of less than 1,000 meters, a LoM of more than five years and a payback period of less than 10 years.

The Group has been identified as one of the key target companies for listing by the Yantai People’s Government, and the Group’s subsidiary, Yantai Zhongjia Mining Co., Ltd., has been approved by the Yantai Municipal Government as one of the four consolidated gold mining companies to acquire gold mining assets in the Muping District of the city. The Group believes that the acquisition of mining assets in Muping District is in line with the policy direction of the local government and that the integration plan will have a positive impact on the Group’s development plan.

According to the Frost & Sullivan report, at least 40 gold mines have been identified in Shandong Province, including 14 underground gold mines in the Muping District’s Gold Mine Resource Integration Plan, which meet certain of the aforementioned acquisition criteria. At present, the Group has shortlisted three underground gold mines in Muping District that meet the acquisition criteria and is ready to select a suitable gold mine by 31 January 2024. The Group is optimistic about signing a formal agreement with the targeted gold mine by 31 March 2024.

Promote mine optimization plan and build additional mining infrastructure

The Group is actively implementing the mine optimization plan, which includes expanding the mining surface area around 150 meters south of the existing boundary of Songjiagou Open-Pit Mine so as to increase the pit opening area from 0.34 square kilometers to 0.46 square meters and to deepen the depth of the pit to –171 meters above sea level. For this purpose, the Group will construct new benches and plans to construct a water storage pool and drainage system to dewater groundwater, set up substations and topsoil storage yards, and acquire three excavators for the new mining area.

Additional exploration at existing mine area to increase gold reserves

According to the SRK report, the Songjiagou Open-Pit Mine area has potential for exploration and upgrading of the infill mineral resource. The Group plans to identify additional mineral resources in the unmined areas adjacent to and below the current pit opening area covered by the mining license of its Songjiagou Open-Pit Mine by conducting further exploration work, which includes 26 drilling surveys in three phases at various depths ranging from 0 to 550 meters with a total depth of over 6,500 meters, so as to increase its gold mineral resources and to increase the LoM of its Songjiagou Open-Pit Mine.

Use of Proceeds

Based on the offer price of HK$0.65 per offer share (being the mid-point of the indicative offer price range of HK$0.55 to HK$0.75), the Group estimates that the net proceeds from the global offering (after deducting the underwriting fees and other estimated expenses relating to the global offering) will be approximately HK$265.0 million before the over-allotment option is exercised.

Use / Percentage

Selective acquisition of gold mining assets: 55.0%

Further construction of mining infrastructure: 20.4%

Repayment of existing bank loans guarantees: 12.6%

Working capital: 10.0%

Additional exploration activities to upgrade gold reserves: 2.0%

Fully electronic application process

Persistence Resources Group Ltd has adopted a fully electronic application process for the Hong Kong public offering. No printed copies of this prospectus or any application forms will be made available to the public. The prospectus has been published on the Stock Exchange website at www.hkexnews.hk under “HKEXnews (New Listings) New Listing Information” and the Group’s website at www.persistenceresource.com.

(1) Source: Frost & Sullivan Report, based on mine production volume in 2022

Persistence Resources Group Ltd

The Group is a gold exploration, mining and processing company established in 2005. It owns two gold mines in Yantai City, Shandong Province, China, mining infrastructure such as mineral processing plants and a tailings dam. It sells gold bullion made from gold concentrates that it processes in-house. According to a Frost & Sullivan report, the Group was the third largest gold mining company in Shandong Province in 2022 in terms of mine production volume, with a market share of 2.6%.

Innovating the Future: Lyvely’s Recognition as a Top Startup and CEO, Farah Zafar on Arabian Business Cover

DUBAI, Dec 14, 2023 – (ACN Newswire) – Lyvely, the pioneering social networking and content monetization platform, has been making waves in the tech world under the leadership of CEO Farah Zafar. Recently gracing the cover of Arabian Business and being shortlisted for the Arabian Business Startup of the Year, Lyvely is redefining the digital landscape, with Zafar’s visionary guidance steering its course.

Zafar’s cover story, “The World is Not Enough,” resonates with her relentless pursuit of excellence and innovation. Her journey from a legal powerhouse to a tech tycoon embodies the transformative spirit Lyvely champions. This recognition and Lyvely’s shortlist achievement underscore a groundbreaking year for the company, as it leads the charge in revolutionizing social media and e-commerce for creators and brands.

“Lyvely transcends being just a tech platform,” asserts CEO Farah Zafar. “We’re a catalyst for positive change, offering everyone the chance to improve their lives and achieve financial autonomy. Our mission at Lyvely is to uplift humanity, empowering people to pursue a digitally free, passion-based livelihood.” This vision from Zafar, aligning with her Arabian Business cover story, encapsulates Lyvely’s dedication to reshaping the digital landscape.

Complementing Zafar’s leadership is Dave Catudal, Co-Founder and CXO, who spearheads product development at Lyvely. Catudal, a driven entrepreneur, shares a mission with Lyvely to offer a comprehensive platform that caters to the evolving needs of creators and brands for monetization and community building.

Commenting on these recent successes, Dave Catudal expressed, “The recognition of Farah being featured on the cover of Arabian Business and Lyvely’s shortlisting for Startup of the Year are milestones that reinforce our mission. These achievements are a testament to our commitment to providing the world with a purpose-built platform for individuals and businesses to not only succeed online, but thrive.”

As Lyvely continues its journey, Zafar’s strategic and corporate acumen, coupled with Catudal’s innovative approach, positions the company at the forefront of a new era in digital interaction. Lyvely is not just a platform; it’s a movement dedicated to empowering creators and revolutionizing how the world engages with content and commerce online.

Social Links
Instagram: https://www.instagram.com/lyvely/
LinkedIn: https://www.linkedin.com/company/getlyvely/

Media contact
Brand: Lyvely
Contact: Dave Catudal
E-mail: info@lyvely.com
Website: https://lyvely.com/

6 Benefits of Getting a Mortgage

HONG KONG, Dec 13, 2023 – (ACN Newswire) – Lien has found her dream property; however, she lacks adequate funds to buy the property. Her bank came to her rescue by offering her a mortgage loan, which falls under the category of secured loans. This means that Lien’s property now serves as collateral to secure the mortgage loan, and the bank will have the rights to the property till Lien repays the loan in full. Since mortgage loans have a lower lending risk due to the presence of the collateral, lenders usually charge a lower rate of interest on them in comparison to unsecured loans. The repayment of mortgage loans is usually fully amortized and can be done via Equated Monthly Installments (EMIs) for a fixed period.

Benefits of Getting a Mortgage

Here are 6 primary benefits that you can look forward to when you take on a mortgage loan:

Purchase a property without cash

Purchasing a property requires a considerable amount of cash you may not have on hand. With a mortgage loan, you can purchase your desired property without forking out cash by pledging your property as collateral.

Build equity on purchased property

The value of the property you purchase by taking a mortgage loan will continue to increase over time, enabling you to build equity and make a profit on the purchase. You may even opt to refinance the property when interest rates are low in the future.

Continue using the property

Mortgaging a property does not end your ownership of the property, provided you continue to pay the EMIs on time. However, the bank may have certain rights on the property, and in case of default (failure to pay EMIs on time), the bank may take over the mortgaged property and recover the outstanding loan amount.

Interest paid may be eligible for tax deductions

The interest paid on the mortgage loan may be eligible for a tax deduction, which you may claim every year when you file your taxes.

High loan amount

You may be eligible for a mortgage loan of up to 90% of the property value at attractive interest rates, allowing you to own your dream home while significantly reducing your downpayment.

Low EMI

Mortgage loans have a long tenure, typically at least 15-20 years, so you may conveniently repay the borrowed amount with lower EMIs.

Final Thoughts

When you apply for a mortgage loan , the bank typically considers both your and your spouse’s income, age, and the value of the property to be mortgaged. If you intend to own a property by taking a mortgage loan, compare different mortgage options, look around for the best offers and familiarize yourself with the terms and conditions before you take the plunge.

Notice: Opinions, analyses, reviews, or recommendations expressed in this article are those of the select editorial staff alone and have not been reviewed, approved, or otherwise endorsed by any third party.

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Sonakshi Murze
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sonakshi.murze@iquanti.com