Artroniq Shareholders Approve Private Placement to Raise up to RM36.8 Million

KUALA LUMPUR, May 19, 2023 – (ACN Newswire) – Leading global information and communications technology (ICT) provider Artroniq Berhad is pleased to announce that shareholders have approved all resolutions at the Company's EGM today.

Marcus Chin Choon Wei, Chief Financial Officer of Artroniq Berhad

Shareholders approved a private placement of up to 65,659,400 placement shares, representing 20.0% of the Company's total number of issued shares, to raise gross proceeds of up to RM36.8 million for the diversification into the manufacturing of electric bicycles (e-bikes), general working capital and estimated expenses for the proposal.

Shareholders also approved the proposal to diversify into the e-bikes business as part of the Company's strategy to diversify its income stream.

A bonus issue of up to 196,978,202 new warrants on the basis of one warrant for every two existing ordinary shares in the Company was also approved to reward shareholders for their support by enabling them to participate in its convertible securities as well as to provide them with an opportunity to increase their equity participation should they exercise the warrants.

In the event that all the warrants are exercised at the exercise price of RM0.60 each, the Company will raise gross proceeds of RM118 million to be used for working capital requirements, including payments to suppliers and trade creditors, staff costs, directors' remuneration and statutory contributions, overhead expenditures and, compliance expenses.

Marcus Chin Choon Wei, Chief Financial Officer of Artroniq, said, "I would like to thank all our shareholders who participated in the EGM to shape the future of the Company. We also want to thank them for their trust in the board of directors and management in guiding the business to greater success."

"The e-bikes business not only adds an additional income stream, but it also enhances our earnings with a contribution of 25% or more in net profit besides resulting in the diversion of 25% or more of the Company's net assets. The ICT products business comprising provision of point-of-sale (POS) solutions and distribution of POS hardware, peripherals and related services will remain as the Company seek to leverage on opportunities in technology trends."

Earlier this year, Artroniq's wholly owned subsidiary, Artroniq iTech Sdn Bhd, was awarded a RM100.0 million, two-year contract by Beno Inc. to assemble the Reevo series of e-bikes totalling 7,000 units that is expected to be completed on or before 30 September 2023.

As of 19 May 2023, Artroniq's share price is at RM0.80sen with a market capitalisation of RM262.6 million.

Artroniq Bhd: 0038 [BURSA: ARTRONIQ] [RIC: ARTR.KL] [BBG: ARTRONIQ:MK], https://www.artroniq.com/

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Healthcare Week boon for medical industry

HONG KONG, May 18, 2023 – (ACN Newswire) – Global healthcare sector leaders streamed into Hong Kong for the second International Healthcare Week, organised by the Hong Kong Trade Development Council (HKTDC). As the flagship Healthcare Week events, the third Asia Summit on Global Health (ASGH) and the 14th Hong Kong International Medical and Healthcare Fair (Medical Fair) featured fruitful discussions on a wide range of topics including the Guangdong-Hong Kong-Macao Greater Bay Area as an innovation powerhouse, complemented by exchanges on Chinese-Western medicine, aging and women innovators. This flagship event has confirmed Hong Kong's status as an international R&D and business healthcare platform, where university research projects have been linked with potential investors and innovative medical devices promoted to international markets.

The third Asia Summit on Global Health (ASGH) attracted over 2,500 participants from 40 countries
and regions

Connected through Deal-making in last Asia Summit on Global Health, representatives from Centre
for Eye and Vision Research Limited, a local university research centre, and Cloudbreak Pharma
Incorporated signed a MOU on ocular science research on the first day of the Summit, witnessed
by HKTDC Deputy Executive Director Dr Patrick Lau (2nd from left, back row)

HKTDC Hong Kong International Medical and Healthcare Fair features the latest medical and
healthcare products and technologies

The ASGH attracted over 2,500 participants from 40 countries and regions. The Medical Fair welcomed over 10,000 visitors from 56 countries and regions. More than 300 one-on-one deal-making sessions and over 600 business-matching meetings were also arranged to help participants seize business opportunities.

Dr Peter K N Lam, Chairman of the HKTDC, said: "Drawing on its strengths in scientific research, a world-class medical system, a highly skilled workforce, strong financing and fundraising capabilities and advanced logistics and transportation infrastructure, and backed by the huge market of the Greater Bay Area, Hong Kong is the preferred hub and perfect springboard into Asia for the growing healthcare market.

"The strong support from the healthcare industry for the Healthcare Week is overwhelming. It has created synergies for medical and healthcare industry professionals and unleashed Hong Kong's strengths in upstream and downstream healthcare industries, Hong Kong is ready to play a bigger role in the medical and healthcare fields in the region," Dr Lam added.

ASGH: thematic sessions examine hot topics

ASGH, co-organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the HKTDC, continued to bring together healthcare leaders, innovators and investors. The first-day Plenary Session: Reimagining the Future of Healthcare invited Sir Jonathan Symonds, CBE, Chair, GSK as one of the speakers. He said: "When COVID struck, the world didn't collaborate in the way that it should have. There will be another COVID. We cannot operate in the same way as we did. We must tackle global problems globally." Another speaker, Mr Tatsuo Yasunaga, Representative Director, Chair of the Board of Directors, Mitsui & Co., Ltd, noted: "In implementing value-based healthcare, we try to achieve both clinical outcome improvement and cost savings. We expect to achieve the first goal through new drug and medical device developments and health risk management. We are also moving towards personalised healthcare to bridge the gap between medical care and prevention."

The Unleashing Opportunities in Integrative Chinese-Western Medicine session today examined research, treatment and medicine developments that transformed markets in Asia and abroad. The session showcased the potential for complementary, integrative healthcare and highlighted the business opportunities that collaboration between Chinese and Western medicine presented.

Mr Abraham Chan, Founder, Chairman, CEO and Executive Director at PuraPharm said modernising Chinese medicine included standardising products by creating standardised granules from herbs. Computer programmes let practitioners diagnose conditions and dispense treatments. Big data collected by practitioners helped improve products and perform drug discovery.

Noting Hong Kong's high life expectancy and increase in the elderly population, panelists at the Ageing Well: Breakthroughs and Investment Landscape in Longevity session said this presented both challenges and opportunities, such as drug discovery, research financing and monitoring gadgets.

Dr Donald Li, Chairman of the Elderly Commission, said higher demand for a wide range of healthcare products and services generated opportunities. This was especially true of monitoring devices allowing the elderly to live at home safely.

Medical Fair: A proven platform reaching out to global buyers

The Medical Fair, organised by the HKTDC and co-organised by the Hong Kong Medical and Healthcare Device Industries Association (HKMHDIA) ran under the HKTDC's EXHIBITION+ hybrid model. The physical fair at the Hong Kong Convention and Exhibition Centre (HKCEC) successfully closed today, while exhibitors and buyers from around the world can continue conducting business online via the Click2Match smart business-matching platform until 25 May.

University projects showcased

In recent years, the Hong Kong SAR Government has actively promoted collaboration between the government, industry, academia and researchers by bringing together enterprises, universities and research institutes to cooperate and promote technological innovation.

At ASGH, the hybrid InnoHealth Showcase and exhibition zone featured projects and solutions from more than 140 healthcare-related innovative technology enterprises, from which 50 of the enterprises and projects are presented by five local major universities, namely CUHK, HKBU, HKU, HKUST and PolyU. The Co-founder, Director & Chief Scientific Advisor of exhibitor Gut Rhythm R&D (Hong Kong) Limited Prof John Anthony Rudd said: "The event was highly successful for us. We gained a lot of exposure and were able to attract several potential investors. We also learned a lot and are very confident we could move forward."

Innovation and Technology Commission (ITC) and Cyberport joined ASGH as Health Innovation Partners from which ITC showcased 16 health-related InnoHK R&D centres to demonstrate Hong Kong's strength as a global innovation powerhouse.

Numerous companies in the healthcare industry as well as six local universities and various enterprises supported by the universities, which are commercialising their research and development accomplishments, joined the Medical Fair to showcase cutting-edge medical products and technologies. Among the university-affiliated companies are Sramek Insight Limited, Herbap Biotech, Agilis Robotics, Metasurgical Technology, Cellomics International and Greater Bay Biotechnology.

This year's fair, the largest in its history, assembled more than 300 exhibitors to feature the latest medical technologies and equipment, healthcare products and solutions and related services, drawing many buyers and industry professionals to source both onsite and online.

"I am glad that I met nearly 100 representatives from various medical organisations, our main target customers. I estimate that this fair will make over 60% of our yearly sales," said Mr King-Wah Tai, a sales representative for medical facility manufacturer Janley Limited (HK). The company has participated in the Medical Fair since 2014 and has benefited greatly from this year's fair. "Taking this chance to interact with people from the sector, understand what they need and how they think is very important to our business. The fair is not just for generating sales but also the perfect place to gain insight," Mr Tai added.

Mr Valentin Cipian Pantea, Manager of Neomed S.R.L. from Romania, visited the Medical Fair to look for new medical-uniform manufacturers. "I plan to order about US$200,000 worth of products and hope to build a long-term relationship with them. Besides, using the Click2Match platform, I made a valuable business connection with a manufacturer from Mainland China. The platform is very helpful in getting to know people entirely out of our usual circle."

A number of content-rich events, including the highly anticipated HKMHDIA Medical Fair Forum, were held during the Medical Fair with keen participation from industry professionals. Those who missed the seminars can watch replay videos on the fair's website at https://bit.ly/3DNBBXy.

Websites
– International Healthcare Week: https://internationalhealthcareweek.hktdc.com/en
– Asia Summit On Global Health: https://www.asiasummitglobalhealth.com/conference/asgh/en
– Programme: https://www.asiasummitglobalhealth.com/conference/asgh/en/programme
– Speakers: https://www.asiasummitglobalhealth.com/conference/asgh/en/speaker
– Hong Kong International Medical and Healthcare Fair: https://www.hktdc.com/event/hkmedicalfair/en
– Interesting product list and Activity schedule: https://bit.ly/3V9mv6S
– Media Room: http://mediaroom.hktdc.com
– Photo download: https://bit.ly/3pTmGI0

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

Media enquiries

For enquiries please contact:

Asia Summit on Global Health
Yuan Tung Financial Relations:
Anson Wong, Tel: +852 3428 3413, Email: awong@yuantung.com.hk
Agnes Yiu, Tel: +852 3428 5690, Email: ayiu@yuantung.com.hk
Hing-Fung Wong, Tel: +852 3428 3122, Email: hfwong@yuantung.com.hk

HKTDC's Communications & Public Affairs Department:
Janet Chan, Tel: +852 2584 4369, Email: janet.ch.chan@hktdc.org
Agnes Wat, Tel: +852 2584 4554, Email: agnes.ky.wat@hktdc.org

Hong Kong International Medical and Healthcare Fair
HKTDC's Communications & Public Affairs Department:
Frankie Leung, Tel: +852 2584 4298, Email: frankie.cy.leung@hktdc.org

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Asia Summit on Global Health gathers 90+ global elites

HONG KONG, May 17, 2023 – (ACN Newswire) – The second International Healthcare Week (IHW), organised by the Hong Kong Trade Development Council (HKTDC), kicked off yesterday, highlighting Hong Kong's strategic role as an innovation and investment hub for the healthcare industry in Asia and its position as a research and business platform for global healthcare development. A flagship event of IHW, the third Asia Summit on Global Health (ASGH) opened today (17 May), while another highlighted event, the 14th edition of the HKTDC Hong Kong International Medical and Healthcare Fair, began yesterday.

The third Asia Summit on Global Health, co-organised by the HKSAR Government and the HKTDC,
began today under the theme "Reimagining the Future of Healthcare"

Dr Peter K N Lam, HKTDC Chairman, gives his welcome remarks

The Hong Kong International Medical and Healthcare Fair features several exhibition zones such as
Biotechnology, Hospital Equipment, Rehabilitation and Elderly Care Products, Health and Personal Care,
and Medical and Healthcare Supplies.

The two-day ASGH, co-organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the HKTDC, takes place in person at the Hong Kong Convention and Exhibition Centre (HKCEC) today, with tomorrow's second day being entirely virtual. This year's summit runs under the theme "Reimagining the Future of Healthcare" and features more than 90 speakers from 20 countries and regions, including healthcare officials and organisations, international science and medical experts, university academics and researchers, investors, business leaders and financial specialists. They are discussing the latest developments in public health, medical technology and healthcare investment to comprehensively explore the future of the healthcare ecosystem and the opportunities it presents.

Mr John Lee, Chief Executive of the HKSAR, delivered the ASGH's opening remarks this morning, with Dr Peter K N Lam, HKTDC Chairman, giving the welcome address. Ms Yu Yanhong, Member of the Leading Party Members' Group of the National Health Commission of the People's Republic of China and Secretary of the Leading Party Members' Group of the National Administration of Traditional Chinese Medicine, delivered special remarks. Dr Peter K N Lam said: "As we find ourselves on the road to recovery, it is an opportune time to look back at the last few years and outline our vision for the global healthcare industry in the years ahead. I am sure we can all agree that we must make the industry more resilient and sustainable for future generations to withstand any health crises. And Hong Kong is the ideal location for the healthcare community to reimagine a bright future for the industry."

In his opening remarks, Mr John Lee said: "Less than two weeks ago, the World Health Organization declared an end to the classification of COVID-19 as a 'public health emergency of international concern'. Here in Hong Kong, and throughout the world, life, and business, is returning to normal. The Hong Kong SAR Government, working together with our R&D and I&T institutions, businesses and professionals, is committed to building a more resilient and sustainable global health system. This Summit, I'm confident, will move us all along in the right direction, a shared determination to build the highest, most inclusive, standard of health and prosperity we can offer our economies, our societies and our communities."

In her special remarks to the audience, Ms Yu Yanhong said: "The 20th National Party Congress emphasised the importance of fostering a 'Healthy China' and giving strategic priority to the protection of the population's health. We hope to promote mutual development by collaborating with Asia's medical and health professionals. This includes enhancing collaboration in medical technology innovation and clinical applications, combining the strengths of biomedical research and industry, complementing each other's resources for mutual benefit, and focusing on global, open development to create a global community of health for all."

Also addressing the summit this morning was Dr Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization (WHO), who said: "While COVID-19 may no longer be a global health emergency, the threat of another more disruptive pathogen remains. To keep the world safer against emergencies of all kinds, the WHO has proposed a framework for stronger governance, financing, systems and tools, and is supporting the international pandemic accord now being negotiated by countries. It is time to end the cycle of panic and neglect in health, and work together to build a new future that's equitable, inclusive and coherent."

Charting healthcare progress in the post-pandemic era to explore opportunities

In the post-pandemic world, the top priority is to reimagine the future of healthcare, with key business leaders, pharmaceutical giants, investors and global health pioneers all needing to contribute to improvements in patient care. This morning's "Plenary Session: Reimagining the Future of Healthcare", moderated by Mr Victor Chu, Chairman & CEO of First Eastern Investment Group, invited Sir Douglas Flint, Chairman of abrdn plc and Chairman of the IP Group, as guest speaker for the first part of the session, the Fireside Chat. Sir Douglas said: "The pandemic has demonstrated the importance of multidisciplinary, multi-country collaboration in addressing global health challenges. With its young population, rising research and development and exceptional scientific talent pool, Asia will play a leading role in global healthcare development going forward. Hong Kong's efforts to attract talent and investment to the region and to build regulatory frameworks that bridge Asian and Western scientific research and development are also vital."

This was followed by "Plenary Talk: The Future of Healthcare as Enabled by Technology and AI", with Dr Gerald L Chan, co-founder of the Morningside Group, invited to explain how AI can help facilitate future developments in the healthcare industry. Dr Chan said: "The explosive rise in the demand for healthcare as well as healthcare costs, combined with an increase in life expectancy, is putting a strain on global healthcare systems. In the face of this demand-supply imbalance, the only way to bridge the gap is to use scalable technology, such as data and artificial intelligence. This will allow us to augment the system so that, despite limited resources, we can care for more patients and meet the seemingly insatiable demand for healthcare."

Tomorrow (18 May) will see a diverse array of online sessions covering topics such as AI, biotechnology, the new focus on Asian healthcare, climate change and health, the future direction of healthcare services, women innovators and investors in healthcare, breakthroughs and the investment landscape in longevity, opportunities in integrative Chinese-Western medicine, and mental health and holistic wellness. Sharing their insights will be scholars, medical specialists, research and innovation leaders, and financial elites from Asia and around the world.

Holistic platform to connect investment projects and boost collaboration

This year's summit features ASGH Deal-Making from 17 to 23 May, connecting project owners with potential investors and business partners worldwide and covering projects such as pharmaceuticals, medical devices and diagnostics, AI and digital health, community health and wellness. The InnoHealth Showcase and exhibition area, running both online and offline, features projects and services from more than 140 innovative technology companies related to the healthcare industry, allowing them to connect with investors from around the world. Among them, 50 innovative start-ups and projects are led by five local universities, including the University of Hong Kong, the Chinese University of Hong Kong, the Hong Kong University of Science and Technology, Hong Kong Baptist University and the Hong Kong Polytechnic University, many of which won multiple awards at this year's Geneva International Exhibition of Inventions. The Innovation and Technology Commission (ITC) and Cyberport continue to be Health Innovation Partners of the summit and are showcasing their solutions at the event. ITC has gathered 16 research centres under the InnoHK initiative to demonstrate Hong Kong's strength as a global research hub. And today's Business of Healthcare Advisory Zone targets biotechnology and healthcare start-ups with a range of consulting services offered by investors and industry experts.

Cutting-edge medical devices and technological solutions at Medical Fair

The Hong Kong International Medical and Healthcare Fair, organised by the HKTDC and co-organised by the Hong Kong Medical and Healthcare Device Industries Association (HKMHDIA), showcases cutting-edge medical devices and technological solutions under the theme "Unleash the Power of Smart Health". The fair has attracted more than 300 exhibitors from local and international markets, including Canada, Mainland China, Japan, Taiwan and the United States. This year's fair is the biggest in the event's history, with many exhibitors investing more resources than before the pandemic.

This year's themed zones at the fair include Biotechnology, Hospital Equipment, Rehabilitation and Elderly Care, World of Health and Wellness, and Medical Supplies and Disposables. There are also exclusive exhibition areas for the HKMHDIA, Hong Kong China Federation of Bodybuilding & Fitness, and Hong Kong Science and Technology Parks (HKSTP). The zones showcase a range of cutting-edge medical technologies and instruments, healthcare products and related services.

Among the exhibitors, one company is showcasing a "telehealth management platform" that enables medical staff to monitor patients' blood pressure, blood oxygen saturation and body temperature in real-time using Bluetooth medical devices (Booth: 3E-E27). Another exhibitor is introducing an "electronic stethoscope" that allows healthcare professionals to conduct remote auscultation (Booth: 3D-E01).

The Medical Fair has invited six local universities, including the University of Hong Kong, the Chinese University of Hong Kong, the Hong Kong University of Science and Technology, City University of Hong Kong, Hong Kong Baptist University and Lingnan University, to showcase their R&D achievements in the medical and healthcare field, while the exhibition area set up by the HKSTP allows 30 companies, including start-ups they have incubated, to showcase their innovative achievements. Among them, a company is demonstrating a nucleic acid drug delivery system using "electroporation" which utilises brief electric pulses to enhance drug penetration across the cell membrane and help induce a more potent immune response (Booth: 3E-E28).

Held yesterday, the HKMHDIA Medical Fair Forum 2023 was a major highlight of this year's fair. Organised by the HKMHDIA with the HKTDC as a strategic partner, the event featured industry experts who discussed the opportunities and prerequisites for establishing medical technology companies in Hong Kong and mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area. Today, "The Rise of Innovative MedTech in Hong Kong" forum, organised by HKSTP, introduced new solutions from medical technology companies including a next-generation bone density testing system and an ultrasound system for monitoring liver disease.

This year's Medical Fair continues to use the "EXHIBITION+" model, with the physical exhibition taking place at the Hong Kong Convention and Exhibition Centre from 16 to 18 May. Global exhibitors, industry professionals and buyers can also conduct business negotiations through the "Click2Match" online smart business matching platform until 25 May.

Websites
– International Healthcare Week: https://internationalhealthcareweek.hktdc.com/en
– Asia Summit On Global Health: https://www.asiasummitglobalhealth.com/conference/asgh/en
– Programme: https://www.asiasummitglobalhealth.com/conference/asgh/en/programme
– Speakers: https://www.asiasummitglobalhealth.com/conference/asgh/en/speaker
– Hong Kong International Medical and Healthcare Fair: https://www.hktdc.com/event/hkmedicalfair/en
– Interesting product list and activity schedule: https://bit.ly/3V9mv6S
– Media Room: http://mediaroom.hktdc.com
– Photo download: https://bit.ly/3OziSpJ

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

Media enquiries

For enquiries please contact:

Asia Summit on Global Health
Yuan Tung Financial Relations:
Anson Wong, Tel: +852 3428 3413, Email: awong@yuantung.com.hk
Agnes Yiu, Tel: +852 3428 5690, Email: ayiu@yuantung.com.hk
Hing-Fung Wong, Tel: +852 3428 3122, Email: hfwong@yuantung.com.hk

HKTDC's Communications & Public Affairs Department:
Janet Chan, Tel: +852 2584 4369, Email: janet.ch.chan@hktdc.org
Agnes Wat, Tel: +852 2584 4554, Email: agnes.ky.wat@hktdc.org

Hong Kong International Medical and Healthcare Fair
HKTDC's Communications & Public Affairs Department:
Frankie Leung, Tel: +852 2584 4298, Email: frankie.cy.leung@hktdc.org

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

GroundUp Studios Launches Creative Council of Producers to Accelerate Web3 Music and Art in Asia

Award-winning producers Derrick Sepnio, Fergus Chow and Jae Chong join Creative Council – with more to come
Creative Council’s main goal is to support member community in their music career development
Producers aim to share professional tips on the music industry; provide insights and mentorship on music creation and production; identify and recruit member artists for potential collaborations and more

HONG KONG, May 17, 2023 – (ACN Newswire) – GroundUp Studios, a forward-thinking, web3-focused music label today announced its Creative Council of professional veterans in the music industry, to accelerate the pace of web3 music and art creation among its community members. As part of the announcement, Derrick Sepnio, Fergus Chow and Jae Chong will become GroundUp Studios’ first wave of award-winning producers to support the label’s community of songwriters and musicians in their career development.

*GroundUp Studios’ Creative Council will house award-winning producers Derrick Sepnio (L), Fergus Chow (M) and Jae Chong (R)*

GroundUp Studios’ vision is to shine a light on the impressive pool of musical and artistic talent in the region. It plans to build a comprehensive web3 ecosystem using NFTs as an access pass, to attract NFT art investors; technology enthusiasts; music and art lovers; songwriters; producers; and artists of all disciplines. As members socialize and connect, GroundUp believes that this would inspire new artistic ideas, allowing them to re-imagine the music and art they are capable of creating.

Fast-tracking Web3 Music and Art With The Creative Council

The Creative Council is GroundUp’s longer term plan to bridge undiscovered and independent artists with top-tier industry professionals in music and art. The main responsibilities of Council producers are to connect and socialize with the label’s community members; pass on valuable knowledge about music creation and production; and generally broaden their artistic horizons by sharing great music within the community. As working professionals, the producers will also keep a close eye on emerging talent within the GroundUp community, and eventually find ways to collaborate directly with them.

GroundUp’s trio of producers represent some of the most seasoned and in-demand veterans working currently in Asia. Working closely with GroundUp, the producers will evaluate opportunity gaps in the traditional music industry and develop trailblazing initiatives and projects that will shape the future of digital art and music.

“GroundUp Studios is honored to work with Derrick, Fergus and Jae – arguably three of the best producers in Asia – to re-imagine music and art using web3 technology,” said Adrian Fu, co-founder and Creative Director. “In our view, web3 is not purely about technology; rather, we see it as a new way and attitude towards the creation and monetization of music and art. I look forward to working closely with the producers to evolve music from an artistic, commercial and technological standpoint. This will ultimately deliver unique experiences for lovers of new music and art.”

Producer Profiles & Quotes

About Derrick Sepnio

Derrick is a celebrated producer, guitarist and artist across Asia. A 7-time winner of the prestigious Golden Melody Awards, Sepnio is a producer in high demand especially in Greater China. In his career, he has worked with some of the biggest artists including Eason Chan, Sandy Lam, Khalil Fong, Karen Mok, JJ Lin to name a few. He has played over 1,000 concerts, and produced and recorded over 500 albums and is often a regular guest on China’s music-related TV shows.

Quote:

“I look forward to working with GroundUp Studios. In my view, technological innovation always inspires individuals and communities to discover new ways of doing things. Invariably, web3 will inject excitement and new energy into music – regardless of the commerciality of the product. I am confident that my experience as a producer and performer in the industry, combined with the creativity and ingenuity of our artist and their community of fans will lead to some great things!”

About Fergus Chow

Fergus is one of Greater China’s pre-eminent producers and Musical Directors. He has led headline tours with Khalil Fong, Gin Lee, ALin, Tia Ray and others. As a performer, he has toured extensively, performing for artists like Faye Wong, Sandy Lam, Karen Mok, Li Rong-Hao. His production credits are equally impressive, having produced for ALin, Coco Lee, Fiona Sit, Karen Mok among others.

Quote:

“This is an exciting time for music and the arts. Web3 transforms the dynamics of the recording industry, and deepens the transactional relationship between fan and artist. To the artist, this means greater creative, commercial and monetary control, as well as more sustainable careers. Furthermore, new generation social media platforms are empowering truly borderless connections and collaborations, opening up limitless possibilities in artistic output. I look forward to working with GroundUp’s fans and artists – the sky’s the limit!”

About Jae Chong

Jae is an acclaimed producer, musician and entrepreneur who began his career in Korea, as one of the founding members of SOLID. The band was the first R&B group to reach over 4 million in unit sales. Jae then launched Taiwan’s first hip-hop entertainment group, MACHI Entertainment, and was the first Korean-American producer to receive awards from Taiwan’s Golden Melody Awards in 2005 and 2006. His portfolio of artist collaborations is incredibly wide, including Coco Lee, Stanley Huang, Jolin Tsai, Elva Hsiao and more. Jae brings extensive industry connections in Korea, Taiwan and the US.

Quote:

“I’m excited to work with GroundUp Studios to explore the potential of web3 applications in music. I believe web3 will bring about greater transparency to the music industry and equity to artists. As someone who lives in the US with networks there and across Asia, I’m particularly interested in using web3 to build organic relationships between artists in these countries, facilitate connections and ideas to bring projects to life.”

About GroundUp Studios

GroundUp is a forward-thinking, web3-focused music organization that views music and art in a brand new light. We aspire to empower #ExtraOrdinaryArt and artists, by creating a borderless space for creators to connect, collaborate and monetize. We do so by capitalizing on rapidly transforming technologies, economics and consumer/artist dynamics.

For all enquiries, please email contact@groundupstudios.io

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Palladium One Identifies Additional Chonolith / Feeder Dyke Structures, Field Season Initiated on the Tyko Nickel Project, Canada

TORONTO, ON, May 16, 2023 – (ACN Newswire) – Palladium One Mining Inc. (TSXV: PDM) (OTCQB: NKORF) (FSE: 7N11) (the "Company" or "Palladium One") is pleased to report the initial results of the 2023 exploration program on the Tyko Nickel – Copper Project, in Ontario, Canada.

Figure 1. Tyko Property map showing the new 4,430-kilometer, 75 meters line spaced high resolution
airborne magnetic survey and the various mineralized zones and multi-line Versatile Time Domain
Electromagnetic ("VTEM") anomalies, background is total magnetic intensity reduced to pole
("TMI-RTP").

Figure 2. Zoom in on the 2023 priority exploration areas – showing existing drill holes, interpreted
chonoliths / feeder dykes, and proposed work programs. Background is TMI-RTP magnetics.

President and CEO, Derrick Weyrauch commented, "The impressive resolution of the new airborne magnetic survey has enabled us to better separate the interpreted chonolith / feeder dyke structures from later diabase dykes on the property. This greatly enhances our geological model and refines targeting of high priority structures.

The 2023 field season is now underway with a large field crew performing geological mapping, prospecting and soil sampling along the interpreted chonoliths / feeder dykes, to further refine drill targets for the upcoming drill program."

The 2023 exploration program is focused on ground truthing and drill testing interpreted chonoliths / feeder dykes on the Tyko Project. In Q1 2023, the Company completed a high-resolution magnetic survey, the results of which are presented in Figures 1 and 2. The 2023 magnetic survey was designed to refine the geometry of the interpreted chonoliths / feeder dykes across Tyko's 30-kilometer strike length.

Figure 1. Tyko Property map showing the new 4,430-kilometer, 75 meters line spaced high resolution airborne magnetic survey and the various mineralized zones and multi-line Versatile Time Domain Electromagnetic ("VTEM") anomalies, background is total magnetic intensity reduced to pole ("TMI-RTP").
https://images.newsfilecorp.com/files/6502/166187_9e1c7d9c8474a9d8_001full.jpg

Figure 2. Zoom in on the 2023 priority exploration areas – showing existing drill holes, interpreted chonoliths / feeder dykes, and proposed work programs. Background is TMI-RTP magnetics.
https://images.newsfilecorp.com/files/6502/166187_9e1c7d9c8474a9d8_002full.jpg

About Tyko Nickel – Copper – Cobalt Project

The Tyko Nickel – Copper – Cobalt Project, is located approximately 65 kilometers northeast of Marathon Ontario, Canada. Tyko is an early stage, high sulphide tenor, nickel – copper (2:1 ratio) project and currently has five known mineralized zones spanning over a 20-kilometer strike length.

Qualified Person

The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101.

About Palladium One

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

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

For further information contact:
Derrick Weyrauch, President & CEO
Email: info@palladiumoneinc.com

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/166187

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Palladium One Identifies Additional Chonolith / Feeder Dyke Structures, Field Season Initiated on the Tyko Nickel Project, Canada

Highlights

The 2023 field season is under way and crew have been mobilized.
The Q1 2023, 4,430-kilometer high-resolution airborne magnetic survey results have been received and structural interpretation has been completed. With the increased resolution, a significantly more detailed geological model has been prepared resulting in the identification of additional interpreted chonoliths / feeder dykes structures.

Toronto, Ontario, May 16, 2023 – (ACN Newswire) – Palladium One Mining Inc. (TSXV: PDM) (OTCQB: NKORF) (FSE: 7N11) (the “Company” or “Palladium One“) is pleased to report the initial results of the 2023 exploration program on the Tyko Nickel – Copper Project, in Ontario, Canada.

President and CEO, Derrick Weyrauch commented, “The impressive resolution of the new airborne magnetic survey has enabled us to better separate the interpreted chonolith / feeder dyke structures from later diabase dykes on the property. This greatly enhances our geological model and refines targeting of high priority structures.

The 2023 field season is now underway with a large field crew performing geological mapping, prospecting and soil sampling along the interpreted chonoliths / feeder dykes, to further refine drill targets for the upcoming drill program.”

The 2023 exploration program is focused on ground truthing and drill testing interpreted chonoliths / feeder dykes on the Tyko Project. In Q1 2023, the Company completed a high-resolution magnetic survey, the results of which are presented in Figures 1 and 2. The 2023 magnetic survey was designed to refine the geometry of the interpreted chonoliths / feeder dykes across Tyko’s 30-kilometer strike length.

Figure 1. Tyko Property map showing the new 4,430-kilometer, 75 meters line spaced high resolution airborne magnetic survey and the various mineralized zones and multi-line Versatile Time Domain Electromagnetic (“VTEM”) anomalies, background is total magnetic intensity reduced to pole (“TMI-RTP”).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/166187_9e1c7d9c8474a9d8_001full.jpg

Figure 2. Zoom in on the 2023 priority exploration areas – showing existing drill holes, interpreted chonoliths / feeder dykes, and proposed work programs. Background is TMI-RTP magnetics.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/166187_9e1c7d9c8474a9d8_002full.jpg

About Tyko Nickel – Copper – Cobalt Project
The Tyko Nickel – Copper – Cobalt Project, is located approximately 65 kilometers northeast of Marathon Ontario, Canada. Tyko is an early stage, high sulphide tenor, nickel – copper (2:1 ratio) project and currently has five known mineralized zones spanning over a 20-kilometer strike length.

Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101.

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

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

For further information contact:
Derrick Weyrauch, President & CEO
Email: info@palladiumoneinc.com

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

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

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

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/166187

Up to 10.5% increase in GDP possible in some countries with housing improvements in informal settlements, new Habitat for Humanity and IIED report finds

MANILA, Philippines, May 16, 2023 – (ACN Newswire) – Improving housing at a large scale in slums and other informal settlements can have substantial economic and human development gains, according to a first-of-its kind report released by Habitat for Humanity and its research partner, the International Institute for Environment and Development, or IIED. The report supports the launch of Habitat for Humanity’s five-year campaign, Home Equals, seeking policy changes at the local, national and global levels to increase equitable access to adequate housing in informal settlements.

DHAKA, BANGLADESH – A rainstorm drenches the community in the Duaripara informal settlement in Dhaka as a resident weaves through its alleys. Beginning in July, Dhaka endures three months of rain. Drainage is poor in informal settlements and many homes are not sealed from weather so when it rains water penetrates into the homes. Photo credit: Habitat for Humanity International/ Raymond McCrea Jonesption

DHAKA, BANGLADESH – Beguntila informal settlement in Dhaka. The Beguntila slum began around 1999 and has about 700 homes currently. Photo credit: Habitat for Humanity International/ Raymond McCrea JonesCaption

“The Asia-Pacific region is home to the largest concentration of people experiencing urban poverty, with one third of urban dwellers living in informal settlements or slum-like conditions. The number will only grow bigger and the need for adequate housing more urgent as urbanization continues, driven by internal rural-to-urban migration—particularly of people from poorer backgrounds seeking economic opportunities in cities,” said Luis Noda, vice-president for Asia-Pacific, Habitat for Humanity International.

The report found that gross domestic product and income per capita could increase by as much as 10.5% in some countries. The resulting increase in living standards among residents of informal settlements, taken as a whole, is likely to exceed the cost of improving informal settlements in many countries.

Other startling findings include:

An increase of up to 4% in life expectancy in some countries around the world, adding an average of 2.4 years of life
More than 730,000 preventable deaths could be avoided annually—more than could be saved by eradicating malaria globally
An increase of as much as 28% in the expected years of schooling in some countries

The report used a unique modeling methodology, which combines a review of more than 130 articles and reports with 72 indicators across 102 low- and middle-income countries. The model could not generate projections for specific countries on their own, so the researchers grouped countries into four typologies. Assuming the impacts in a country reflect those of the country type it is most similar to, improving housing in informal settlements in some Asia-Pacific countries could result in:

An increase in GDP of up to 7.25% in countries such as Bangladesh, by as much as 3.3% in countries such as Fiji, and up to 10.5% in countries such as Myanmar
An increase in life expectancy rate of up to 1.7% in countries such as Cambodia and Nepal, and as much as 1.2% in countries such as Thailand
Up to a one-year increase in the mean years of schooling for countries such as India and Indonesia, and 1.35 years in countries such as the Philippines

At the global level, Habitat for Humanity is calling on G7 member states — set to meet this weekend in Hiroshima, Japan — to recognize housing as a critical lever for development progress and commit to addressing housing needs in informal settlements as a way to advance international development priorities in areas such as economic growth, health and education.

Noda added, “The report provides empirical evidence that adequate housing is a powerful catalyst for well-being and sustainability. It makes clear that we must invest intentionally to ensure that residents of informal settlements have access to adequate housing. As Habitat for Humanity launches the Home Equals campaign, we are eager to work hand-in-hand with residents of informal settlements, civil society organizations, local and national governments, and other stakeholders to improve, through policy change, the lives of 15 million people living in informal settlements.”

More than half of Habitat’s network, including 11 entities based in the Asia-Pacific, are working actively on the campaign. Habitat Australia will advocate with the government to adopt policies aimed at addressing the lack of adequate housing for informal settlement dwellers across the region. In Nepal, Habitat will work to integrate policies and guidelines so residents of informal settlements can equitably access land rights through an information campaign, dialogue between the local government and families and the establishment of a land support service center. Habitat Indonesia will help local governments identify funding resources to implement rehabilitation programs for inhabitable housing, to build new houses and explore funding mechanisms between governments and NGOs for housing programming. In Vietnam, Habitat will work with local partners to implement sustainable policy solutions that will enable Vietnamese returnees from Cambodia to have a secure home.

About Habitat for Humanity

Driven by the vision that everyone needs a decent place to live, Habitat for Humanity found its earliest inspirations as a grassroots movement on an interracial community farm in U.S.A. Since its founding in 1976, the housing organization has grown to become a leading global nonprofit working in more than 70 countries. In the Asia-Pacific region since 1983, Habitat for Humanity has supported millions of people to build or improve a place they can call home. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. To learn more, donate or volunteer, visit habitat.org/asiapacific.

For further information, please contact Ms. Michele Soh, MSoh@habitat.org, +65 9233 1544. Photos, with captions and photographer credits, are available in this folder. The Home Equals campaign video is available to download or to watch on Habitat’s YouTube channel. Video b-roll is available upon request.

Palladium One Announces Exercise of Anti-Dilution Right by Strategic Shareholder

TORONTO, ON, May 15, 2023 – (ACN Newswire) – Palladium One Mining (TSXV: PDM) (FSE: 7N11) (OTCQB: NKORF) ("Palladium One" or the "Company") is pleased to announce that Glencore plc ("Glencore"), a large shareholder of the Company through its wholly-owned subsidiary, has elected to exercise its pro-rata equity participation rights and has subscribed for 7,439,071 common shares in the capital of the Company (the "Common Shares"). The Common Shares were issued at a price of $0.11 per Common Share for aggregate gross proceeds of $818,297.80 (the "Financing"). Following the Financing, Glencore holds approximately 9.99% of the Company's equity on a partially diluted basis.

Pursuant to the terms of the investor rights agreement entered into between Glencore and the Company (the "Investor Rights Agreement"), Glencore elected to exercise its pre-emptive rights to maintain its ownership interest in the Company in respect of the Company's recently completed acquisition of MetalCorp Limited.

All Common Shares issued under the Financing are subject to a four-month hold period from the closing date. No fees were paid in connection with Glencore's investment.

About Palladium One

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

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

For further information contact:
Derrick Weyrauch, President & CEO
Email: info@palladiumoneinc.com

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

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

Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. Forward-looking statements contained in this news release include, without limitation, statements with respect to: the expected synergies and benefits of the Financing, the future price of nickel, copper, gold, and cobalt, the estimation of mineral resources, costs and timing of the development of projects and new deposits, success of exploration, currency fluctuations, requirements for additional capital, government regulation of mining operations, and environmental risks. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/166045

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Malaysian Genomics Inks Agreement in Expansion to Bangladesh

PETALING JAYA, Malaysia, May 15, 2023 – (ACN Newswire) – Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, today announced a strategic cooperation agreement (SCA) with Toticell Limited for the distribution of the Group's products in Bangladesh.

Sasha Nordin, Chief Executive Officer of Malaysian Genomics

Azri Azerai, Executive Director of Malaysian Genomics

Toticell, which is based in Dhaka, Bangladesh, specialises in regenerative healthcare focusing on treatments for musculoskeletal conditions such as arthritis, sports-related injuries and tendinopathies.

Under the SCA, the parties agree to cooperate in the distribution of Malaysian Genomics' cosmeceutical products, genetic screening tests, CAR T-cell therapy services, and other areas of mutual commercial interests.

Mr. Sasha Nordin, CEO of Malaysian Genomics said, "Bangladesh represents a market with vast opportunities given its population of approximately 165 million people. The country's economy, which is the second-largest in South Asia, is growing rapidly it is identified by Goldman Sachs Inc. as one of the Next Eleven, along with the BRICS economies for potential. Malaysian Genomics is delighted to cooperate with Toticell to bring our products and services to Bangladesh."

Mr. Azri Azerai, Executive Director of Malaysian Genomics, said, "This collaboration with Toticell falls in line with Malaysian Genomics' strategic expansion plan which includes diversifying geographically and globally."

In April, MGRC announced that the Group has made progress in establishing partnerships following the signing of SCAs with several Dubai, United Arab Emirates ("UAE") parties, namely American Spine Center ("ASC"), a Dubai, UAE-based specialist in spinal injury and spine pathology; BALSAM Health Services ("Balsam"), a Dubai, UAE-based healthcare service provider; Wellness by Design FZ LLC ("Wellness by Design"), a Dubai, UAE-based nutrition, obesity and weight loss specialist, and Sharjah, UAE-based IAC International LLC ("IAC"), which is coordinating and developing the partnerships.

MGRC also recently appointed Mr. Aswath Ramakrishnan as its new Independent Non-Executive Director. He is an experienced practising lawyer involved in commercial litigation, shipping and maritime, defamation, corporate and insolvency litigation, asset and debt recovery, intellectual property litigation, arbitration, and cross-border dispute.

Malaysian Genomics Resource Centre Bhd: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Loop Industries Announces Signed Letter of Intent With On AG to Secure Volumes From Planned Infinite Loop(TM) Manufacturing Facility in Ulsan, South Korea

MONTREAL, QUEBEC, May 15, 2023 – (ACN Newswire) – Loop Industries, Inc. (Nasdaq:LOOP) (the "Company" or "Loop"), a clean technology company whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate ("PET") plastic and polyester fiber, and On AG ("On"), a sportswear brand and a subsidiary of On Holding AG, today announced a Letter of Intent ("LOI") has been signed by On to secure volumes of 100% recycled virgin quality Loop(TM) PET resin from the upcoming Asian Infinite Loop(TM) manufacturing facility in Ulsan, South Korea, which Loop is planning with its strategic partner SK Geo Centric. The Ulsan manufacturing facility is anticipated to break ground by end of this year.

The signed LOI follows a two-year period of collaboration between Loop and On, throughout which time a technical due diligence was completed, validating Loop's technology and Loop(TM) PET resin was tested in On's product. This partnership will provide On the ability to produce sustainable footwear and apparel using recycled materials and without the need for polyester fiber created from fossil fuels, which helps to reduce PET waste and the manufacturing footprint for On.

"Circularity is a main pillar in On's sustainability process. We are happy to see that Loop is bringing their technology to commercial scale," said Ilmarin Heitz, Head of Innovation at On. "This marks another huge step towards closing the fiber-to-fiber loop within the textile industry."

"Loop's technology enables fiber to fiber recycling, providing brands like On with a closed-loop solution to their supply chain," said Giovanni Catino, Vice President of Sales and Business Development. "We anticipate that 60% of the feedstock utilized at our planned commercial manufacturing facility in Ulsan to come from polyester fibers which presents a significant opportunity for circularity for this material."

Loop Industries is leading the way in sustainable and circular solutions for PET waste, allowing materials to be infinitely recycled without loss of quality or performance. Loop's breakthrough technology enables low value PET waste to be upcycled into 100% recycled virgin-quality Loop(TM) PET resin which can be used in plastic products and food-grade packaging as well as polyester fiber applications. In addition to low value PET plastic waste, Loop also utilizes polyester fiber waste as feedstock in its process. By upcycling these materials, Loop's technology helps supply brands with sustainable, recycled polyester fabric and offers a closed loop solution to the textile industry. This unique fiber to fiber recycling process is achieved through Loop's patented depolymerization technology.

By leveraging Loop's technology and securing volume at the upcoming Ulsan, South Korea manufacturing facility, On is implementing a bold and sustainable footwear strategy in the industry, taking a giant step forward in circularity. The partnership between Loop Industries and On showcases how brands can transition to a sustainable, environmentally friendly solution where materials can be recycled infinitely.

About On

On was born in the Swiss Alps with one goal: to revolutionize the sensation of running by empowering all to run on clouds. Thirteen years after market launch, On delivers industry-disrupting innovation in premium footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. Fueled by customer-recommendation, On's award-winning CloudTec(R) innovation, purposeful design and groundbreaking strides in sportswear's circular economy have attracted a fast-growing global fanbase – inspiring humans to explore, discover and dream on. On is present in more than 60 countries globally and engages with a digital community on www.on.com.

About Loop Industries

Loop Industries is a technology company whose mission is to accelerate the world's shift toward sustainable PET plastic and polyester fiber and away from our dependence on fossil fuels. Loop Industries owns patented and proprietary technology that depolymerizes no and low-value waste PET plastic and polyester fiber, including plastic bottles and packaging, carpets and textiles of any color, transparency or condition and even ocean plastics that have been degraded by the sun and salt, to its base building blocks (monomers). The monomers are filtered, purified and polymerized to create virgin-quality Loop(TM) branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling our customers to meet their sustainability objectives. Loop(TM) PET plastic and polyester fiber can be recycled infinitely without degradation of quality, successfully closing the plastic loop. Loop Industries is contributing to the global movement towards a circular economy by reducing plastic waste and recovering waste plastic for a sustainable future.

Common shares of the Company are listed on the NASDAQ Global Market under the symbol "LOOP." For more information, please visit www.loopindustries.com.

Follow Loop on Twitter: @loopindustries, Instagram: loopindustries, Facebook: Loop Industries and LinkedIn: Loop Industries

Forward-Looking Statements

This news release contains "forward-looking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "should," "could," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or "continue" the negative of such terms or similar words. These forward-looking statements include, without limitation, statements about Loop's market opportunity, its strategies, ability to improve and expand its capabilities, competition, expected activities and expenditures as Loop pursues its business plan, the adequacy of its available cash resources, regulatory compliance, plans for future growth and future operations, the size of Loop's addressable market, market trends, and the effectiveness of Loop's internal control over financial reporting. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond Loop's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with among other things: (i) commercialization of our technology and products, (ii) our status of relationship with partners, (iii) development and protection of our intellectual property and products, (iv) industry competition, (v) our need for and ability to obtain additional funding relative to our current and future financial commitments, (vi) engineering, contracting, and building our manufacturing facilities, (vii) our ability to scale, manufacture, and sell our products in order to generate revenues, (viii) our proposed business model and our ability to execute thereon, (ix) adverse effects on the Company's business and operations as a result of increased regulatory, media, or financial reporting scrutiny, practices, rumors, or otherwise, (x) disease epidemics and other health-related concerns and crises, which could result in reduced access to capital markets, supply chain disruptions and scrutiny, embargoing of goods produced in affected areas, government-imposed mandatory business closures and any resulting furloughs of our employees, government employment subsidy programs, travel restrictions or the like to prevent the spread of disease, or market or other changes that could result in non-cash impairments of our intangible assets, and property, plant and equipment, (xi) the effect of the continuing worldwide macroeconomic uncertainty and its impacts, including inflation, market volatility and fluctuations in foreign currency exchange and interest rates, (xii) the outcome of any SEC investigations or class action litigation filed against us, (xiii) our ability to hire and/or retain qualified employees and consultants, (xiv) other events or circumstances over which we have little or no control, and (xv) other factors discussed in Loop's subsequent filings with the Securities and Exchange Commission ("SEC"). More detailed information about Loop and the risk factors that may affect the realization of forward-looking statements is set forth in Loop's filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. Loop assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

For More Information:
Investor Relations:
Kevin C. O'Dowd, Vice-President Communications & Investor Relations
Loop Industries, Inc.
+1 617-755-4602
kodowd@loopindustries.com

Media Inquiries:
Andrea Kostiuk, VP Marketing & Communications
Loop Industries, Inc.
+1 (450) 951-8555
akostiuk@loopindustries.com

SOURCE: Loop Industries, Inc.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com