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CALGARY, Alberta, May 22, 2025 (GLOBE NEWSWIRE) — Reeflex Solutions Inc. (TSXV: RFX) (formerly Bigstack Opportunities I Inc., a capital pool company) (“Reeflex”) is pleased to announce that it has successfully completed its previously announced “Qualifying Transaction” pursuant to TSX Venture Exchange (“TSXV”) Policy 2.4 – Capital Pool Companies (the “Qualifying Transaction”). Reeflex received conditional approval from the TSXV for the Qualifying Transaction and a filing statement dated April 14, 2025 (the “Filing Statement”) with respect to the Qualifying Transaction can be found on Reeflex’s SEDAR+ profile at www.sedarplus.ca.

Trading in the common shares of Reeflex (“Reeflex Shares”) was previously halted at the request of Reeflex in connection with the initial announcement of the Qualifying Transaction and is expected to resume under the new ticker symbol “RFX” on the TSXV in two business days following the date of issuance of the bulletin by the TSXV evidencing final acceptance of the Qualifying Transaction. The new CUSIP number is 75846K105 and the new ISIN is CA75846K1057 for the Reeflex Shares.

“Completing this Qualifying Transaction marks a significant milestone for Reeflex Solutions Inc.,” said John Babic, President and CEO of Reeflex. “Our vision to transform and expand the capabilities of Coil Solutions Inc. is now supported by the resources and opportunities of a public company. We are excited to leverage this new platform to continue driving innovation and delivering value to our stakeholders.”

Summary of the Qualifying Transaction

In connection with the Qualifying Transaction, Reeflex changed its name from “Bigstack Opportunities I Inc.” to “Reeflex Solutions Inc.”.

Pursuant to the Qualifying Transaction:

• Reeflex Coil Solutions Inc. (the “Target”) completed an acquisition of all of the issued and outstanding shares in the capital of Coil Solutions Inc. (“Coil”) from all of the shareholders of Coil for aggregate consideration of $5.8 million, subject to a post-closing working capital adjustment;
• the Target completed a non-brokered private placement of 4,139,500 subscription receipts (each, a “Subscription Receipt”) at a price of $0.20 per Subscription Receipt for aggregate gross proceeds of $827,900. Each Subscription Receipt converted into one common share in the capital of the Target (the “Target Share”) prior to a three-cornered amalgamation (the “Amalgamation”) described below resulting in each holder of a Subscription Receipt receiving one Reeflex Share for each Subscription Receipt held; and
• Reeflex completed the Amalgamation pursuant to which (i) the Target amalgamated with 2704122 Alberta Ltd., a wholly-owned subsidiary of Reeflex, under the Business Corporations Act (Alberta), (ii) all of the issued and outstanding Target Shares immediately prior to the Amalgamation were cancelled and, in consideration therefor, the holders thereof received one Reeflex Share on the basis of one Target Share for one Reeflex Share and (iii) the amalgamated corporation, named Reeflex Coil Solutions Inc. (“Reeflex Coil”), is a wholly-owned subsidiary of Reeflex and Coil is a wholly-owned subsidiary of Reeflex Coil.

Following completion of the Qualifying Transaction, the directors and officers of Reeflex are:

• John Babic, President, Chief Executive Officer and Director;
• Eric Szustak, Director;
• Derrek Dobko, Director;
• Shawn Szydlowski, Director; and
• Trevor Conway, Chief Financial Officer and Corporate Secretary.

In addition, Cecil Hassard and George Wu are Directors of Reeflex Coil and Bryan Hassard is Chief Operating Officer of Coil.

As of the date hereof, there are 46,401,500 Reeflex Shares issued and outstanding, of which 36,239,500 Reeflex Shares, representing approximately 78.10% of the currently issued and outstanding Reeflex Shares, are held by the former shareholders of the Target as a result of the Qualifying Transaction. In addition, stock options to acquire 3,050,000 Reeflex Shares were issued to the board and management of Reeflex and Reeflex Coil following the completion of the Qualifying Transaction and agent’s warrants that were previously issued and outstanding to purchase up to 500,000 Reeflex Shares remain outstanding. All stock options of Reeflex held by Eric Szustak and the former directors and officers of Reeflex prior to the Qualifying Transaction were exercised pursuant to the terms of the Qualifying Transaction.

For further information regarding the Qualifying Transaction, Reeflex, the Target and Coil, please see the Filing Statement and prior press releases related to the Qualifying Transaction, which can be found on Reeflex’s SEDAR+ profile at www.sedarplus.ca.

Early Warning Disclosure

Upon the completion of the Qualifying Transaction, John Babic, President, Chief Executive Officer and Director of Reeflex, holds, directly or indirectly, or exercises control or direction over an aggregate of 11,500,000 Reeflex Shares and stock options to acquire 1,750,000 Reeflex Shares, representing 24.78% of the issued and outstanding Reeflex Shares on a non-diluted basis and 27.52% on a partially-diluted basis (assuming the exercise of Mr. Babic’s convertible securities). Prior to the completion of the Qualifying Transaction, Mr. Babic did not beneficially own, or exercise control or direction over, any securities of Reeflex. Mr. Babic acquired these securities for investment purposes and may, from time to time, acquire additional securities of Reeflex or dispose of such securities as he may deem appropriate.

Upon the completion of the Qualifying Transaction, Cecil Hassard, Director of Reeflex Coil, holds, directly or indirectly, or exercises control or direction over an aggregate of 5,553,710 Reeflex Shares and stock options to acquire 100,000 Reeflex Shares, representing 11.97% of the issued and outstanding Reeflex Shares on a non-diluted basis and 12.16% on a partially-diluted basis (assuming the exercise of Mr. Hassard’s convertible securities). Prior to the completion of the Qualifying Transaction, Mr. Hassard did not beneficially own, or exercise control or direction over, any securities of Reeflex. Mr. Hassard acquired these securities for investment purposes and may, from time to time, acquire additional securities of Reeflex or dispose of such securities as he may deem appropriate.

The foregoing disclosure is being disseminated pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. Copies of the early warning reports with respect to the foregoing will appear on Reeflex’s SEDAR+ profile at www.sedarplus.ca and may also be obtained by contacting Reeflex as set forth below.

Change of Auditor

In connection with the completion of the Qualifying Transaction, Clearhouse LLP will resign as auditor of Reeflex and MNP LLP will be appointed as auditor of Reeflex. In the opinion of Reeflex, no “reportable event” (as such term is defined in National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”)) has occurred. Reeflex is relying on section 4.11(3)(a) of NI 51-102 for an exemption from the change of auditor requirements within section 4.11 of NI 51-102.

About Reeflex

Reeflex is a public company delivering advanced engineering and manufacturing solutions across various industry sectors. Through our wholly-owned subsidiary, Coil Solutions Inc., we provide coil tubing injectors and downhole tools for the oil & gas sector. Our manufacturing division, Ranglar Manufacturing, specializes in custom-designed mobile equipment for a wide range of industrial applications. See www.coilsolutions.com and www.ranglar.com.

Reeflex Contact

For further information, please contact:

John Babic
President, Chief Executive Officer and Director
Email: john.babic@reeflex.ca
Telephone: 780-909-4220

Cautionary Note Regarding Forward–Looking Information

This press release contains “forward-looking information” or “forward-looking statements” within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, including statements included in the “About Reeflex” section of this press release, are forward-looking. Generally, the forward-looking information and forward-looking statements can be identified by the use of forward-looking terminology such as “anticipate”, “believes”, “estimates”, “expects”, “intends”, “may”, “should”, “will” or variations of such words or similar expressions. More particularly, and without limitation, this press release contains forward-looking information or forward-looking statements concerning the resumption of trading of the Reeflex Shares on the TSXV and Reeflex capitalizing on opportunities for growth in its industry. Reeflex cautions that all forward-looking information and forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of Reeflex, including expectations and assumptions concerning Reeflex, as well as other risks and uncertainties, including those described in Reeflex’s filings available on SEDAR+ at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking information or forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of Reeflex. The reader is cautioned not to place undue reliance on any forward-looking information or forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking information and forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and Reeflex does not undertake any obligation to update publicly or to revise any of the included forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.

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

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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VANCOUVER, British Columbia, May 22, 2025 (GLOBE NEWSWIRE) — Imperial Metals Corporation (“Imperial” or the “Company”) (TSX:III) reports, in accordance with the policies of the Toronto Stock Exchange, that the nominees listed in the management information circular dated April 4, 2025, were elected as directors of the Company at the Company’s virtual Annual and Special Meeting of Shareholders held on May 21, 2025 (the “Meeting”).

Results of the vote for the election of directors which took place at the Meeting are:

A total of 116,456,204 common shares were voted in connection with the Meeting, representing approximately 71.86% of the issued and outstanding common shares of the Company. The results of other matters considered at the Meeting are reported in the Report of Voting Results, filed on SEDAR+ under the Company’s profile at www.sedarplus.com.   

About Imperial

Imperial is a Vancouver-based exploration, mine development and operating company with holdings that include the Mount Polley mine (100%), the Huckleberry mine (100%), and the Red Chris mine (30%). Imperial also holds a portfolio of 23 greenfield exploration properties in British Columbia.

Company Contacts

Brian Kynoch | President | 604.669.8959

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TORONTO, May 21, 2025 (GLOBE NEWSWIRE) — Greenhawk Resources Inc. (“Greenhawk” or the “Company“) (CSE: GRHK) announces that it has executed an arms-length Option and Joint Venture Agreement (the “Option Agreement”) with 1531323 BC Ltd. (“1531323 BC”) to advance the exploration and development of Greenhawk’s Greenland properties, which include the Storø and Qingaaq mineral exploration licenses (the “Properties”).

Under the Option Agreement, 1531323 BC is granted an option to acquire an 80% interest in the Properties in exchange for: (a) an upfront payment of $100,000, which shall be paid within 90 days, and (b) incurring $1,400,000 in spending at the Properties within 24 months according to the following schedule.

1531323 BC will be responsible for the operations of the Properties while the Option Agreement is in effect. If 1531323 BC satisfies the expenditure requirement at the Properties, the Company and 1531323 BC will establish a joint venture for the exploration and development of the Properties.

The Storø project (“Storø”) is a 12 km² license which hosts an inferred mineral resource estimated in 2021 by SRK Consulting (Sweden) AB at 885,000 tonnes, grading 3.4 g/t Au and totaling 95,000 oz of gold Mineral Resources. The Mineral Resource has a cut-off grade of 0.8 g/t Au for material located within the conceptual open-pit shell and 2.5 g/t Au for underground Mineral Resources located below the pit shell. Since 1995, a total of 102 drillholes totaling 17,371 m have been drilled into the known mineralized zones at Storø. Storø is surrounded by the Qingaaq license (“Qingaaq”), which covers some 540 km².

Martin Pittuck, CEng, FGS, MIMMM, a “Qualified Person” for the purpose of National Instrument 43-101, has reviewed and approved the scientific and technical information included in this news release.

1531323 BC intends to enter into a management services contract with the Company to provide advice in respect of the Properties.

The Company continues to actively pursue the acquisition of other properties and opportunities in the mineral exploration and resources sector.

The Company is also announcing that it has cancelled an aggregate of 8,600,000 stock options. The subject stock options are comprised of 4,600,000 stock options with an exercise price of $0.27 per share and an expiry date of October 20, 2025, and 4,000,000 stock options with an exercise price of $0.20 per share and an expiry date of June 24, 2026.

About Greenhawk Resources Inc.

Greenhawk is a Canadian resources exploration and development company. Greenhawk owns a 100% legal and beneficial interest in two mineral exploration licenses and one prospecting license in Greenland known as the Storø Gold Project. Additional Information on Greenhawk can be obtained from SEDAR+ at sedarplus.ca. Greenhawk is listed on the Canadian Securities Exchange (www.thecse.com) (CSE: GRHK).

Issued on behalf of the Board of Directors of Greenhawk Resources Inc. For information, please contact:

David Jagodzinski, Director Corporate Development
Phone: +1 (416) 504-2020
Email: info@grhk.ca

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

Cautionary Note Regarding Forward-Looking Information

Certain statements in this press release may contain forward looking information which can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “desires”, “will”, “should”, “projects”, “estimates”, “contemplates”, “anticipates”, “intends”, or any negative such as “does not believe” or other variations thereof or comparable terminology. No assurance can be given that potential future results or circumstances described in the forward-looking statements will be achieved or will occur. By their nature, these forward-looking statements necessarily involve risks and uncertainties that could cause actual results to significantly differ from those contemplated by these forward-looking statements including, but not limited to: the completion of the Transaction, including the receipt of the upfront payment, 1531323 BC making the requisite expenditures on the Properties to exercise the option on the Properties, the ability to obtain requisite corporate and regulatory approvals, including that of the CSE, the operator obtaining requisite permits and authorizations to allow for exploration on the Properties. Such statements reflect the view of the Company with respect to future events and are based on information currently available to the Company and on assumptions, which it considers reasonable. Management cautions readers that the assumptions relative to the future events, several of which are beyond management’s control, could prove to be incorrect, given that they are subject to certain risk and uncertainties, and that actual results may differ materially from those projected. Management disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.

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– Vigil’s shareholders to receive up to $10.00 per share in cash, comprised of $8.00 per share in cash at closing and a non-tradeable contingent value right of $2.00 per share in cash following the first commercial sale of VG-3927 –

– Acquisition expected to strengthen development path for the oral small molecule TREM2 agonist program, including VG-3927, a Phase 2-ready clinical candidate for potential treatment of Alzheimer’s disease –

– Companies expect transaction to close in third quarter of 2025 –

WATERTOWN, Mass., May 21, 2025 (GLOBE NEWSWIRE) — Vigil Neuroscience, Inc. (Nasdaq: VIGL), a clinical-stage biotechnology company committed to harnessing the power of microglia for the treatment of neurodegenerative diseases and Sanofi (NASDAQ: SNY), today announced that it has entered into a definitive merger agreement pursuant to which Sanofi will acquire Vigil for an upfront payment of $8.00 per share of common stock in cash. Vigil shareholders will also receive a non-tradeable contingent value right (CVR) entitling the holder to potentially receive an additional $2.00 per share in cash payable following the first commercial sale of VG-3927 if achieved within a specific period. The total equity value of the transaction, including the potential CVR payment, represents approximately $600 million on a fully diluted basis.

“We are incredibly proud of the legacy we have built at Vigil and today’s announcement is a testament to the value of our TREM2 agonist pipeline,” said Ivana Magovčević-Liebisch, Ph.D., J.D., President and Chief Executive Officer of Vigil. “Sanofi’s development capabilities, therapeutic expertise, global footprint, and financial strength provide the greatest opportunity to further the development of VG-3927 for the potential treatment of Alzheimer’s disease and potentially bring this important and differentiated therapy to those struggling with the immense burden of this disease.”

Activating TREM2 is expected to enhance the neuroprotective function of microglia in Alzheimer’s disease. In neurodegenerative diseases such as Alzheimer’s disease, microglial activation is dysregulated, leading to debris accumulation, chronic inflammation and neurodegeneration in the central nervous system. Activation of TREM2 has shown to promote the migration of microglial cells to sites of injury, enhance their capability for phagocytosis, proliferation, and survival. Consequently, this facilitates the prevention of neural degeneration that is frequently associated with adult-onset neurodegenerative diseases.

Currently approved therapies for Alzheimer’s disease do not stop or reverse the disease progression and there are stringent eligibility requirements for treatment. There is a critical need to develop more efficacious, safer, and convenient options for people living with Alzheimer’s disease.

“Sanofi’s complementary capabilities and commitment to bring innovative therapies to patients align with our mission and what we have passionately been working toward over the past five years,” continued Magovčević-Liebisch. “We want to thank Vigil’s exceptional employees for their unrelenting dedication and our patient communities for their steadfast engagement, to whom I extend my deepest gratitude. Together, we look forward to following Sanofi’s journey in advancing next-generation small molecule TREM2 therapies for severe neurodegenerative diseases and potentially offering new treatment options to patients.”

“This acquisition is fully supporting Sanofi’s strategic focus on neurology and on advancing science and leveraging our expertise in immunology to solve areas of critical unmet need,” said Houman Ashrafian, M.D., Ph.D., Head of Research and Development of Sanofi. “TREM2 represents a compelling target at the intersection of immune dysregulation and neurodegeneration, particularly in people living with Alzheimer’s because they face devastating cognitive decline with limited treatment options. Vigil’s expertise is complementary to our capabilities in neurology and reinforces our dedication to developing innovative medicines to improve people’s lives. Vigil’s team are a welcome addition, and we look forward to working with them and the patient community.”

Terms of the Transaction
Under the terms of the merger agreement, Sanofi and Vigil have agreed to the following:

• Sanofi will acquire all outstanding common shares of Vigil for $8.00 per share in cash at closing, representing an equity value of approximately $470 million (on a fully diluted basis)
• In addition, Vigil’s shareholders will receive a non-transferrable CVR per Vigil share, which will entitle its holder to receive a deferred cash payment of $2.00, conditioned upon the first commercial sale for VG-3927.
• Iluzanebart (VGL101), Vigil’s monoclonal antibody program, is not being acquired by Sanofi, and its return to Amgen, the original licensor, and the termination of the exclusive license agreement with Amgen solely with respect to VGL101, will occur prior to the closing of the transaction.

Bruce Booth, Atlas Ventures, and Ivana Magovčević-Liebisch have signed voting and support agreements in favor of the deal. The shares subject to these agreements represent a total of approximately 16% of Vigil’s total common shares outstanding.

The closing of the acquisition is subject to other conditions customary for such a transaction, including the approval of holders of a majority of the outstanding shares of Vigil common stock, the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and other customary conditions.

Sanofi and Vigil expect the transaction to close in the third quarter of 2025.

Advisors
Centerview Partners LLC is acting as exclusive financial advisor to Vigil, and Goodwin Procter LLP is serving as legal counsel.

About Sanofi
We are an innovative global healthcare company, driven by one purpose: we chase the miracles of science to improve people’s lives. Our team, across the world, is dedicated to transforming the practice of medicine by working to turn the impossible into the possible. We provide potentially life-changing treatment options and life-saving vaccine protection to millions of people globally, while putting sustainability and social responsibility at the center of our ambitions. Sanofi is listed on EURONEXT: SAN and NASDAQ: SNY.

About Vigil Neuroscience
Vigil Neuroscience is a clinical-stage biotechnology company focused on developing treatments for both rare and common neurodegenerative diseases by restoring the vigilance of microglia, the sentinel immune cells of the brain. Vigil is utilizing the tools of modern neuroscience drug development across multiple therapeutic modalities in its efforts to develop precision-based therapies to improve the lives of patients and their families. Iluzanebart, Vigil’s lead clinical candidate, is a fully human monoclonal antibody agonist targeting triggering receptor expressed on myeloid cells 2 (TREM2) in people with adult-onset leukoencephalopathy with axonal spheroids and pigmented glia (ALSP), a rare and fatal neurodegenerative disease. Vigil is also developing VG-3927, a novel small molecule TREM2 agonist, to treat common neurodegenerative diseases associated with microglial dysfunction, with an initial focus on Alzheimer’s disease (AD). 

Forward Looking Statements
This communication includes certain disclosures that contain express or implied forward-looking statements related to Sanofi, Vigil and the acquisition of Vigil by Sanofi that are made pursuant to the safe harbor provisions of the federal securities laws, including, without limitation, express or implied forward-looking statements regarding: Vigil’s strategy, business plans and focus; the potential therapeutic benefit of the Company’s product candidates, including iluzanebart and VG-3927; the return of VGL101 to Amgen (VGL101 Return); the progress and timing of the clinical development of Vigil’s product candidates and programs; beliefs about observations made analyzing preclinical study and clinical trial data to date; and the future operations and performance of Sanofi and Vigil. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including all statements regarding the intent, belief or current expectation of the companies and members of their senior management teams. Words such as “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target,” variations of such words, and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Examples of such forward-looking statements include, but are not limited to, express or implied:

• statements regarding the transaction and related matters, expected timelines for completing the transaction, prospective performance and opportunities, post-closing operations and the outlook for the companies’ businesses;
• statements of targets, plans, objectives or goals for future operations, including those related to Sanofi’s and Vigil’s products, potential therapeutic benefit, product research, product development, product introductions and product approvals as well as cooperation in relation thereto;
• statements containing projections of or targets for revenues, costs, income (or loss), earnings per share, capital expenditures, dividends, capital structure, net financials and other financial measures;
• statements regarding future economic performance, future actions and outcomes of any potential future legal proceedings; and
• statements regarding the assumptions underlying or relating to such statements.

These statements are based on current beliefs, judgments and assumptions based upon information currently available to Sanofi and Vigil management and utilized to develop plans, estimates and projections. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific. Sanofi and Vigil each caution that a number of important factors, including those described in this document, could cause actual results to differ materially from those contemplated in any forward-looking statements.

Factors that may affect future results and may cause these forward-looking statements to be inaccurate include, but are not limited to: the occurrence of any event, change or other circumstance that could give rise to the termination of the transaction; the possibility that competing offers will be made; the possibility that various closing conditions for the transaction may not be satisfied or waived, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the transaction (or only grant approval subject to adverse conditions or limitations) or the receipt of the requisite approval of Vigil’s stockholders; the possibility that the proposed transaction may not be completed in the time frame expected by Sanofi and Vigil, or at all; the possibility that the VGL101 Return may not be completed in the anticipated time frame or at all; failure to realize the anticipated benefits of the proposed transaction in the time frame expected, or at all; the effects of the transaction on relationships with employees, other business partners or governmental entities; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction; significant or unexpected costs, charges or expenses resulting from the proposed transaction; negative effects of this announcement or the consummation of the proposed transaction on the market price of Sanofi’s shares or Vigil’s common stock and/or Sanofi’s or Vigil’s operating results; potential difficulties in employee retention as a result of the announcement and pendency of the proposed transaction; the difficulty of predicting the timing or outcome of regulatory approvals or actions; the risks related to non-achievement of the CVR milestone and that holders of the CVRs will not receive payments in respect of the CVRs; other business effects, including the effects of industry, economic or political conditions outside of Vigil’s or Sanofi’s control; potentially significant political, trade or regulatory developments and other circumstances beyond Vigil’s control, including government shutdowns, layoffs, voluntary resignations and reorganizations, new legislation and executive orders, trade disputes and tariffs; transaction costs; actual or contingent liabilities; risk of litigation and/or regulatory actions related to the proposed transaction; the outcome of any legal proceedings that may be instituted against the parties and others related to the proposed transaction; adverse impacts on business, operating results or financial condition in the future due to pandemics, epidemics or outbreaks and their impact on Sanofi’s and Vigil’s respective businesses, operations, supply chain, patient enrollment and retention, clinical trials, strategy, goals and anticipated milestone; government-mandated or market-driven price decreases for Sanofi’s or Vigil’s products; introduction of competing products; reliance on information technology; Sanofi’s or Vigil’s ability to successfully market current and new products; Sanofi’s, Vigil’s and their collaborators’ ability to continue to conduct research and clinical programs; Vigil’s ability to successfully demonstrate the efficacy and safety of its product candidates, the therapeutic potential of its product candidates and the preclinical or clinical results for its product candidates, which may not support further development of such product candidates; comments, feedback and actions of regulatory agencies; exposure to product liability and legal proceedings and investigations; and other risks and uncertainties detailed from time to time in Vigil’s periodic reports filed with the U.S. Securities and Exchange Commission (SEC) and Vigil’s other filings with the SEC.

Any forward-looking statements speak only as of the date of this communication and are made based on the current beliefs, judgments and assumptions based upon information currently available to Sanofi’s and Vigil’s management. Forward-looking statements contained in this announcement are made as of this date, and Sanofi and Vigil undertake no duty to update such information except as required under applicable law. Readers should not rely upon the information on this page as current or accurate after its publication date.

Additional Information And Where To Find It
In connection with the proposed transaction between Vigil and Sanofi, Vigil will file with the SEC a proxy statement on Schedule 14A (Proxy Statement) relating to a special meeting of its stockholders. Additionally, Vigil may file other relevant materials with the SEC in connection with the proposed transaction. VIGIL’S STOCKHOLDERS AND OTHER INVESTORS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT MATERIALS FILED OR THAT WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE MATERIALS AND DOCUMENTS INCORPORATED BY REFERENCE THEREIN, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. The definitive Proxy Statement will be mailed or otherwise made available to Vigil’s securityholders. Investors and securityholders will be able to obtain a copy of the Proxy Statement as well as other filings containing information about the proposed transaction that are filed by Vigil or Sanofi with the SEC, free of charge on EDGAR at www.sec.gov.

Participants in the Solicitation
Vigil and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Vigil in respect of the proposed transaction and any other matters to be voted on at the special meeting. Information about Vigil’s directors and executive officers, including a description of their interests, by security holdings or otherwise, in the proposed transaction will be included in the Proxy Statement. Vigil stockholders may obtain additional information regarding the participants in the solicitation of proxies in connection with the proposed transaction by reading the Proxy Statement and any other relevant documents that are filed or will be filed with the SEC relating to the proposed transaction. You may obtain free copies of these document using the sources indicated above.

Internet Posting of Information
Vigil routinely posts information that may be important to investors in the ‘Investors’ section of its website at https://www.vigilneuro.com. The Company encourages investors and potential investors to consult our website regularly for important information about Vigil.

Investor Contact:
Leah Gibson
Vice President, Investor Relations & Corporate Communications
Vigil Neuroscience, Inc.
lgibson@vigilneuro.com

Media Contact:
Megan McGrath
CTD Comms, LLC
megan@ctdcomms.com

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CALGARY, Alberta, May 20, 2025 (GLOBE NEWSWIRE) — Tornado Infrastructure Equipment Ltd. (“Tornado” or the “Company”) (TSX-V: TGH; OTCQX: TGHLF), a leading manufacturer of specialized infrastructure and excavation equipment, announces that, pursuant to the terms of its stock option plan, as amended, it has granted incentive stock options for the purchase of up to 500,000 common shares of the Company effective May 20, 2025, to a key employee. All the stock options have an exercise price of $1.71 per share and expire five years from the date of grant.

About Tornado Infrastructure Equipment Ltd.

Tornado is a pioneer and leader in the vacuum truck industry and has been a choice of utility and oilfield professionals with over 1,800 hydrovacs sold since 2008. The Company designs and manufactures hydrovac trucks as well as provides heavy duty truck maintenance operations in central Alberta. It sells hydrovac trucks to excavation service providers in the infrastructure and industrial construction and oil and gas markets. Hydrovac trucks use high pressure water and vacuum to safely penetrate and cut soil to expose critical infrastructure for repair and installation without damage. Hydrovac excavation methods are quickly becoming a standard in North America to safely excavate in urban areas and around critical infrastructure greatly reducing infrastructure damage and related fatalities.

For more information about Tornado Infrastructure Equipment Ltd., visit www.tornadotrucks.com or contact:

Advisory

Certain statements contained in this news release constitute forward-looking statements. These statements relate to future events. All statements other than statements of historical fact are forward-looking statements. The use of the words “anticipates”, “should”, ‘‘may”, “expected”, “expects”, “believes” and other words of a similar nature are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Although Tornado believes these statements to be reasonable, no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements as a result of prevailing economic conditions, and other factors, many of which are beyond the control of Tornado. Although Tornado believes these statements to be reasonable, no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. The forward-looking statements contained in this news release represent Tornado’s expectations as of the date hereof and are subject to change after such date. Tornado disclaims any intention or 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 by applicable securities regulations.

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

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QUEBEC CITY, Canada, May 20, 2025 (GLOBE NEWSWIRE) — LeddarTech^® Holdings Inc. (“LeddarTech” or the “Company”) (Nasdaq: LDTC), an AI-powered software company recognized for its innovation in advanced driver assistance systems (ADAS) and autonomous driving (AD), today provided an update regarding its discussions with its lenders under the amended and restated financing offer dated as of April 5, 2023 with Fédération des caisses Desjardins du Québec (“Desjardins” and the financing offer, as amended, the “Desjardins Credit Facility”) and the bridge financing offer dated as of August 16, 2024 with the initial bridge lenders and certain members of management and the board of directors (collectively, the “Bridge Lenders”, and the financing offer, the “Bridge Facility”). While the Company continues to be in active discussions with Desjardins and its Bridge Lenders, it has not reached an agreement providing for additional financing for the Company or relief from the minimum cash, equity financing and process plan covenants contained in the Desjardins Credit Facility and Bridge Facility.

In an effort to preserve cash and afford the Company additional time to pursue discussions with its lenders, the Company also announced a reduction of its workforce through temporary layoffs of approximately 138 individuals, in all of its locations and across all departments within the organization, representing approximately 95% of the Company’s total workforce. Such measure will provide the Company with additional time to continue to actively evaluate potential alternatives relating to a restructuring of its obligations, a sale of the business or certain of its assets, strategic investments and/or any other alternatives, including seeking creditor protection under the Companies’ Credit Arrangement Act. There can be no assurance that the Company will be successful in pursuing and implementing any such alternatives, nor any assurance as to the outcome or timing of any such alternatives.

About LeddarTech

A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.

LeddarTech is responsible for several remote-sensing innovations, with over 190 patent applications (112 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.

Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter (X), Facebook and YouTube.

Forward-Looking Statements

Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech’s selection by the OEM referred to above, anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics, as well as expectations regarding the anticipated performance, adoption and commercialization of its products. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation, our ability to continue to maintain compliance with Nasdaq continued listing standards following our transfer to the Nasdaq Capital Market, as well as: (i) the risk that LeddarTech and the OEM referred to above are unable to agree to final terms in definitive agreements; (ii) the volume of future orders (if any) from this OEM, actual revenue derived from expected orders, and timing of revenue, if any; (iii) our ability to timely access sufficient capital and financing on favorable terms or at all; (iv) our ability to maintain compliance with our debt covenants, including our ability to enter into any forbearance agreements, waivers or amendments with, or obtain other relief from, our lenders as needed; (v) our ability to execute on our business model, achieve design wins and generate meaningful revenue; (vi) our ability to successfully commercialize our product offering at scale, whether through the collaboration agreement with Texas Instruments, a collaboration with a Tier 2 supplier or otherwise; (vii) changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs and plans; (viii) changes in general economic and/or industry-specific conditions; (ix) our ability to retain, attract and hire key personnel; (x) potential adverse changes to relationships with our customers, employees, suppliers or other parties; (xi) legislative, regulatory and economic developments; (xii) the outcome of any known and unknown litigation and regulatory proceedings; (xiii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak, as well as management’s response to any of the aforementioned factors; and (xiv) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s Form 20-F filed with the SEC. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Chris Stewart, Chief Financial Officer, LeddarTech Holdings Inc.
Tel.: + 1-514-427-0858, chris.stewart@leddartech.com

Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”

The post LeddarTech Provides Update on Financial Situation and Announces Workforce Reduction appeared first on Crypto Insider.

NEW YORK, May 19, 2025 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Ibotta, Inc. (NYSE: IBTA) pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with Ibotta’s April 18, 2024 initial public offering (the “IPO”), of the important June 16, 2025 lead plaintiff deadline in the securities class action first filed by the Firm.

SO WHAT: If you purchased Ibotta securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Ibotta class action, go to https://rosenlegal.com/submit-form/?case_id=36526 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 16, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, the Registration Statement contained false and/or misleading statements and/or failed to disclose the risks concerning Ibotta’s contract with The Kroger Co. (“Kroger”). Kroger’s contract was at-will, and Ibotta failed to warn investors that a large client could cancel their contract with Ibotta without warning. Despite providing a detailed explanation of the terms of Ibotta’s contract with another large customer, there was not a single warning of the at-will nature of Kroger’s contract. Rather than disclosing the very real risk of a major client walking away at any time, Ibotta provided boilerplate warnings concerning the importance of maintaining ongoing relationships with their clients. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Ibotta action, go to https://rosenlegal.com/submit-form/?case_id=36526 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com

The post ROSEN, SKILLED INVESTOR COUNSEL, Encourages Ibotta, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action First Filed by the Firm – IBTA appeared first on Crypto Insider.

NEW YORK, May 19, 2025 (GLOBE NEWSWIRE) —

WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action on behalf of purchasers of common stock of Elevance Health, Inc. (NYSE: ELV) between April 18, 2024 and October 16, 2024, both dates inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court no later than July 11, 2025.

SO WHAT: If you purchased Elevance common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Elevance class action, go to https://rosenlegal.com/submit-form/?case_id=39372 or call Phillip Kim, Esq. at 866-767-3653 or email case@rosenlegal.com for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 11, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that, with the Medicaid redetermination process nearly complete, defendants represented to investors that they were closely monitoring cost trends associated with the redetermination process and that the premium rates Elevance was negotiating with states were sufficient to address the risk and cost profiles of those patients staying on Medicaid programs. While defendants acknowledged that Medicaid expenses were rising, they repeatedly assured investors that this was adequately reflected in Elevance’s guidance for the year. These representations were materially false or misleading. In truth, the redeterminations were causing the acuity and utilization of Elevance’s Medicaid members to rise significantly, as the members being removed from Medicaid programs were, on average, healthier than those who remained eligible for the programs. This shift was occurring to a degree that was not reflected in Elevance’s rate negotiations with the states or in its financial guidance for 2024. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Elevance class action, go to https://rosenlegal.com/submit-form/?case_id=39372 or call Phillip Kim, Esq. at 866-767-3653 or email case@rosenlegal.com for more information.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com

The post ROSEN, TOP-RANKED INVESTOR COUNSEL, Encourages Elevance Health, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – ELV appeared first on Crypto Insider.

CHARLOTTE, N.C. and LUSAKA, Zambia, May 18, 2025 (GLOBE NEWSWIRE) — Terra Metals Inc. is proud to announce the appointment of its Co-Founder and Co-Chairman, Mr. Mumena Mushinge, to the Baushi Royal Foundation (BRF)—a respected heritage organization representing 12 traditional Chiefs and Chiefdoms across Luapula Province, Zambia.

The appointment of Mr. Mushinge marks a game-changing moment for the Baushi Royal Foundation and the wider Luapula region. With over 30 years of experience in the global mining and energy sector, Mushinge brings deep expertise, high-level international networks, and a track record of aligning resource development with inclusive growth.

A Strategic Liaison Between Government, Industry, and Chiefs

In his new role, Mr. Mushinge will serve as a liaison between the government and the Foundation’s 12 member chiefdoms, helping integrate traditional governance into Zambia’s broader resource and infrastructure planning. His appointment aims to correct historical patterns of exploitation, ensuring that development partnerships deliver measurable improvements in livelihoods across the region.

“The era of watching outsiders extract our wealth while communities remain poor is over,” said Mushinge. “The chiefdoms of Luapula must now become co-owners and co-drivers of their future.”

Unlocking the Promise of Luapula Province

Luapula Province—often overlooked despite its wealth—is now emerging as one of Africa’s most strategic green development corridors. The province shares its entire northern border with the Democratic Republic of Congo, one of the richest mineral zones in the world.

Luapula boasts:

• 3,000–4,000 megawatts of hydropower potential across cascading rivers and waterfalls;
• Significant deposits of manganese, sugilite, and rare earth minerals;
• Untapped agricultural land, aquaculture potential, and natural forest reserves;
• Border access to the DRC for trade, energy, and water resource cooperation.

Mr. Mushinge intends to help design and champion a transformative agenda that brings investment, infrastructure, and industrial capacity into the province—anchored by community equity, transparency, and sustainable practices.

A New Era for Zambia’s Traditional Institutions

The Baushi Royal Foundation is leading a renaissance in the role of traditional leadership in Zambia. Through the appointment of private sector leaders like Mr. Mushinge, the Foundation is positioning itself as a serious partner in national policy, green infrastructure, and long-term community wealth-building.

“We are proud to welcome Mr. Mushinge to the Executive Committee,” said a senior spokesperson for the Foundation. “His appointment signals a new chapter in which our voice will be louder, our vision will be clearer, and our people will benefit more.”

About Terra Metals Inc.

Terra Metals Inc. is a U.S.-registered mineral exploration and development company focused on ethically sourced copper, cobalt, and critical minerals essential for the global energy transition. With flagship assets in Zambia and North America, the company is committed to clean mining, community partnership, and long-term sustainability.

MEDIA Q&A BRIEF

Subject: Appointment of Mr. Mumena Mushinge to the Baushi Royal Foundation Executive Committee

Date: April 11, 2025

Prepared for: Mr. Mumena Mushinge, Co-Chairman, Terra Metals Inc.

1.   Why is your appointment to the Baushi Royal Foundation significant? Answer:

This appointment is more than ceremonial—it’s transformational. It signals a new era in which traditional leadership and the private sector can work hand in hand to shape long-term, sustainable development. With 12 royal chiefdoms under the Foundation, this structure has the reach and moral authority to ensure that natural resource development benefits local communities, not just external investors.

2.   How does your experience in mining and energy translate into this new role? Answer:

With over 30 years in mining, energy, and infrastructure—both in Zambia and internationally—I understand the inner workings of project finance, investment attraction, and sustainable development. I intend to apply this knowledge to empower the chiefdoms to negotiate better terms, build royalty and equity-based models, and integrate their priorities into national resource planning.

3.   What are your top priorities as a liaison between the Foundation and government? Answer:

First, to formalize community benefit-sharing mechanisms in mining, hydropower, and agriculture. Second, to promote infrastructure investment—especially roads, power, and education. Third, to support legal frameworks that protect indigenous land and mineral rights. And finally, to position Luapula Province as a regional economic hub with cross-border linkages to the DRC.

4.   What makes Luapula Province so strategic? Answer:

Luapula shares its full northern border with the Democratic Republic of Congo—one of the richest mineral regions on Earth. On our side, we have an abundance of copper, manganese, sugilite, rare earths, and 3,000– 4,000 MW of untapped hydropower potential. With the right investment and governance, Luapula could become one of Southern Africa’s leading green industrial corridors.

5.   How will you ensure that the chiefdoms aren’t left behind as development moves forward? Answer:

We’re creating a new development framework where traditional leaders are not just consulted—they are co-owners of the process. This includes formal equity in certain projects, local employment guarantees, education funds, and shared revenues from natural resource use. That’s how we stop the cycle of exploitation and build generational wealth.

6.   Will Terra Metals Inc. be directly involved in projects in Luapula Province? Answer:

Terra Metals is committed to working ethically and transparently wherever it operates. If and when we participate in projects in Luapula Province, it will be in full partnership with local communities, traditional leadership, and under strict ESG standards. That’s our company ethos.

7.   How do you respond to concerns that chiefdoms lack the capacity to manage major economic projects? Answer:

That’s exactly why I’ve taken this role. My mission is to help build capacity—through training, legal structuring, and technical support. The chiefs are deeply connected to the land and their people. What they need is a trusted framework and partners who respect their authority and aspirations.

8.   What’s your long-term vision for the Baushi Royal Foundation? Answer:

To transform the Foundation into a model for traditional leadership in the 21st century—one that drives investment, protects culture, and creates prosperity from the ground up. If we succeed in Luapula, we can inspire similar structures across Zambia and the continent.

Contact for Follow-up Inquiries:

Mr. Mumena Mushinge
Co-Chairman, Terra Metals Inc.
Email: mmushinge@terrametalsinc.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/45e20b2c-07cc-4ffc-bdd5-8377c448660b

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