Environmental Cash – G Net http://gnet.org/ Fri, 24 Jun 2022 03:10:26 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://gnet.org/wp-content/uploads/2021/05/default-150x150.png Environmental Cash – G Net http://gnet.org/ 32 32 Feds let overthrown witness keep dirty money tax-free, jury told https://gnet.org/feds-let-overthrown-witness-keep-dirty-money-tax-free-jury-told/ Fri, 24 Jun 2022 01:40:00 +0000 https://gnet.org/feds-let-overthrown-witness-keep-dirty-money-tax-free-jury-told/ By Gina Kim (June 23, 2022, 9:40 p.m. EDT) — An appraiser testifying against a real estate developer on trial for bribing Los Angeles City Council member José Huizar admitted during cross-examination Thursday that after he agreed to help the FBI and cooperate with prosecutors, the government allowed him to keep $340,000 he got from […]]]>
By Gina Kim (June 23, 2022, 9:40 p.m. EDT) — An appraiser testifying against a real estate developer on trial for bribing Los Angeles City Council member José Huizar admitted during cross-examination Thursday that after he agreed to help the FBI and cooperate with prosecutors, the government allowed him to keep $340,000 he got from facilitating bribes, tax-free.

Jurors heard Thursday that Justin Kim, who pleaded guilty in 2020 to facilitating a cash payment worth $500,000 to Huizar with money provided by defendant Dae Yong Lee to stop a draft appeal downtown Los Angeles approved development at 940 Hill St., wrote a note to himself on his phone Nov. 9,…

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5 Quick Facts Gen Z Need to Know About Bear Markets https://gnet.org/5-quick-facts-gen-z-need-to-know-about-bear-markets/ Mon, 20 Jun 2022 13:40:46 +0000 https://gnet.org/5-quick-facts-gen-z-need-to-know-about-bear-markets/ The bear market that hit Wall Street last week comes with different challenges for different investors, with young people generally better equipped to deal with them as they have more time to wait for the rebound. This does not mean Generation Z however, investors should ignore it because it is not serious. See: Should you […]]]>

The bear market that hit Wall Street last week comes with different challenges for different investors, with young people generally better equipped to deal with them as they have more time to wait for the rebound. This does not mean Generation Z however, investors should ignore it because it is not serious.

See: Should you “buy the dip” during a bear market – or wait?
To find: How long do bear markets normally last?

As CNN Business recently reported, this is brand new territory for most Gen Zers. Many started investing during the COVID-19 pandemic because they were out of work, had plenty of free time, and had access to money through federal stimulus programs and increased unemployment benefits.

They have mostly seen their investments increase in value – until this year, when stocks began their long slide into a bear market. Now Gen Z investors need to figure out how to handle their first market downturn.

If you’re new to the bear market, here are five things you need to know to make sure you weather the downturn in good shape.

1. Bear markets happen all the time

On average, bear markets occur about every three and a half years, according to Frank Holmes, CEO and chief investment officer at US Global Investors. As a young investor, it’s a good idea to prepare for when they happen, because they will happen. To help cushion the blow, make sure your portfolio is diversified enough to handle market downturns. In a column for Forbes, Holmes said he recommends a 5% to 10% weighting in gold and mining stocks and ETFs.

2. But they usually don’t last that long

According to the formula, bear markets typically last between nine and a half and 13 months. It may seem like an eternity for someone in their twenties, but over a lifetime of investing, it’s barely a drop in the ocean. Bear markets are generally shorter than bull markets, and in the long history of US stock markets, bears are always followed at some point by bulls.

3. Patience is a virtue when it comes to bears

Because bear markets are temporary, there is no reason to panic by selling all your stocks and putting your money in cash accounts. If you have enough cash to ride out the downturn, it’s best to leave your stocks alone during a bear market. This will prevent you from pulling out the bottom and risk missing the inevitable rebound, Mark Riepe, managing director of the Schwab Center for Financial Research, told CNN Business.

4. The long view is the best view

If you’re investing for a retirement that may not begin for decades, you should develop a long-term strategy that takes market volatility into account. Fidelity Investments recommends choosing a combination of investments based on your time frame, risk tolerance, situation and personal financial goals, and then sticking to this long-term approach. This approach will help you maintain a good mix of assets – such as growth and value stocks, bonds, funds, cash and money market securities – and prevent you from making sudden and unnecessary moves during a bear market.

See: 7 things everyone with a retirement plan should know in a bear market
To find: How to Survive and Thrive in a Bear Market: Experts Share Solid Investing Strategies

5. There are still good stocks to buy

A bear market is no excuse to stop investing in stocks. In fact, it can be a great time to buy – if you pick the right ones. Liz Ann Sonders, chief investment strategist at Charles Schwab, told CNN Business that she recommends focusing on companies with cash-rich and low-leverage balance sheets, and that have positive earnings revisions and low volatility. These types of companies tend to have strong trading fundamentals, which means buying them at depressed prices should pay off later.

More from GOBankingRates

This article originally appeared on
GOBankingRates.com:
5 Quick Facts Gen Z Need to Know About Bear Markets

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Zardoya Otis expelled from Spa https://gnet.org/zardoya-otis-expelled-from-spa/ Sat, 18 Jun 2022 21:34:41 +0000 https://gnet.org/zardoya-otis-expelled-from-spa/ FARMINGTON, Conn., May 9, 2022 /PRNewswire/ — Otis Worldwide Corporation (“Otis”) (NYSE: OTIS) has executed the squeeze-out clause to acquire the remaining interest in Zardoya Otis, SA (“Zardoya Otis”). This completes the process of fully consolidating the ownership of Zardoya Otis and results in the delisting of his shares from the Madrid, Barcelona, Bilbao and […]]]>

FARMINGTON, Conn., May 9, 2022 /PRNewswire/ — Otis Worldwide Corporation (“Otis”) (NYSE: OTIS) has executed the squeeze-out clause to acquire the remaining interest in Zardoya Otis, SA (“Zardoya Otis”).

This completes the process of fully consolidating the ownership of Zardoya Otis and results in the delisting of his shares from the Madrid, Barcelona, Bilbao and Valence scholarships today.

The transaction should be 12 cents accretive to 2022 Adjusted EPS, as reported on Otis’ first quarter 2022 earnings call.

For more details, please see the announcement of the Madrid Sotck exchange here.

About Otis

Otis is the world’s leading manufacturer, installation and service of elevators and escalators. We move 2 billion people a day and maintain more than 2.1 million customer units worldwide, the largest service portfolio in the industry. Based at Connecticut, United States, Otis has 70,000 people, including 41,000 field professionals, all committed to meeting the diverse needs of our customers and passengers in more than 200 countries and territories around the world. To learn more, visit www.otis.com and follow us on LinkedIn, instagram, Facebook and Twitter @OtisElevatorCo.

Use and Definitions of Non-GAAP Financial Measures

Otis Worldwide Corporation (“Otis”) reports its financial results in accordance with generally accepted accounting principles in United States (“GAAP”). We supplement the presentation of our financial information determined in accordance with GAAP with certain non-GAAP financial information. The non-GAAP information presented provides investors with additional useful information, but should not be considered in isolation or as a substitute for GAAP measures. In addition, other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with those other companies. We encourage investors to review our financial statements and publicly filed reports in their entirety and not rely on any single financial measure.

Adjusted diluted earnings per share (“EPS”) represents diluted earnings per share from continuing operations (a GAAP measure), adjusted for the impact per share of restructuring and other material non-recurring items and/or or not operational. Management believes that Adjusted EPS is a useful measure to provide period-to-period comparisons of Otis’ ongoing operating performance results.

When providing our expectations for Adjusted EPS, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measure (expected diluted EPS from continuing operations) is generally not available without unreasonable effort due to variability, potentially high complexity and low visibility such as items that would be excluded from GAAP measurement in the relevant future period, such as unusual gains and losses, the ultimate outcome of pending litigation, fluctuations in exchange rates, the impact and timing of potential acquisitions and divestitures, and other structural changes or their likely significance. The variability of excluded items can have a significant, and potentially unpredictable, impact on our future GAAP results.

Caution

This communication contains statements which, to the extent that they are not statements of historical or current fact, constitute “forward-looking statements” under securities laws. From time to time, oral or written forward-looking statements may also be included in other publicly available information. These forward-looking statements are intended to provide management’s current expectations or plans regarding the future operating and financial performance of Otis, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as “believe”, “expect”, “expectations”, “plans”, “strategy”, “outlook”, “estimate”, “project”, ” target”, “anticipate”, “will”, “should”, “see”, “directions”, “outlook”, “medium term”, “short term”, “confident”, “goals” and others words of similar meaning in connection with a discussion of future operating or financial performance, the tender offer by Otis to acquire all of the issued and outstanding shares of Zardoya Otis, SA (the “Tender Offer Purchase Order”) and separation (the “Separation”) from United Technologies Corporation (now known as Raytheon Technologies Corporation (“RTX”)). Forward-looking statements may include, among other things, statements relating to future sales, earnings, cash flow, results of operations, use of cash, dividends, stock repurchases, taxation, research and development expenditures, credit ratings, net indebtedness and other measures of financial performance or potential future plans, strategies or transactions of Otis post-separation or in connection with the public offering purchase, including estimated costs associated with the separation and the tender offer, or statements relating to climate change and our intention to achieve certain environmental, social and governance targets or objectives, including operational impacts and associated costs; and other statements that are not historical facts. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking statements. For these statements, Otis claims the protection of the safe harbor for forward-looking statements contained in the United States Private Securities Litigation Reform Act of 1995. These risks, uncertainties and other factors include, but are not limited to: (1) the effect of economic conditions in the industries and markets in which Otis and its businesses operate in the United States and around the world and any changes therein, including financial market conditions, commodity price fluctuations, trading rates, interest and exchange rates, levels of end market demand in construction, health issues related to the pandemic (including COVID-19 and its variants and the ongoing economic recovery therefrom and their effects on, among other things, global supply, demand and distribution), natural disasters and the financial condition of Otis’ customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of anticipated benefits of advanced technologies and new products and services; (3) future levels of indebtedness, capital expenditures and research and development expenditures; (4) the future availability of credit and factors that may affect such availability, credit market conditions and Otis’ capital structure; (5) the timing and scope of future repurchases of Otis common stock (“common stock”), which may be suspended at any time due to various factors, including market conditions and the level of other trading activity. investment and use of cash; (6) price fluctuations and delays and disruptions in the delivery of vendor materials and services, whether due to COVID-19 or otherwise; (7) cost reduction or cost containment actions, restructuring costs and related savings and their other consequences; (8) new business and investment opportunities; (9) the outcome of legal proceedings, investigations and other contingencies; (10) pension plan assumptions and future contributions; (11) the impact of collective bargaining and labor disputes; (12) the effect of changes in political conditions in the United States and other countries in which Otis and its businesses operate on general market conditions, global trade policies and currency exchange rates in the near term and beyond. of the ; (13) the effect of changes in tax, environmental, regulatory (including, without limitation, import/export), and other laws and regulations in the United States and other countries in which Otis and its businesses operate; (14) Otis’ ability to retain and hire key personnel; (15) the scope, nature, impact or timing of acquisition and divestiture activities, including, among other things, the integration of acquired businesses into existing businesses and the realization of synergies and growth opportunities. growth and innovation and the commitment of the associated costs; (16) the ability to realize the expected benefits of the Tender Offer and the timing thereof; (17) the ability to realize the expected benefits of the Separation; (18) the determination by the Internal Revenue Service and other taxing authorities that the Distribution or certain related transactions should be treated as taxable transactions; and (19) the amount of our obligations and the nature of our contractual restrictions under the agreements we entered into with RTX and Carrier Corporation in connection with the Separation, as well as any disputes that have or may subsequently arise under the agreements. that we have entered into with RTX and Carrier Corporation. The above list of factors is not exhaustive or necessarily ranked in order of importance. For more information about identifying factors that could cause actual results to differ from those set forth in the forward-looking statements, see Otis’ registration statement on Form 10 and Otis’ reports on Forms 10-K, 10-Q and 8-K filed with or provided to the SEC from time to time. Any forward-looking statement speaks only as of the date on which it is made, and Otis undertakes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

Media Contact
Katy Padget
+1-860-674-3047
[email protected]

Investor Relations
Michael Rednor
+1-860-676-6011
[email protected]

Show original content:https://www.prnewswire.com/news-releases/zardoya-otis-delisted-from-spanish-stock-exchanges-301542981.html

SOURCEOtis Worldwide Corporation

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Country Garden publishes its 2021 sustainability report https://gnet.org/country-garden-publishes-its-2021-sustainability-report/ Fri, 17 Jun 2022 04:48:00 +0000 https://gnet.org/country-garden-publishes-its-2021-sustainability-report/ According to the report, by the end of 2021, the company had completed the construction of 997 projects in accordance with the national green building assessment standard, with a total GFA of 221.16 million square meters, representing a rate of compound annual growth of 46.4% and 46.2% respectively from 2017 to 2021. In 2021, 61 […]]]>

According to the report, by the end of 2021, the company had completed the construction of 997 projects in accordance with the national green building assessment standard, with a total GFA of 221.16 million square meters, representing a rate of compound annual growth of 46.4% and 46.2% respectively from 2017 to 2021. In 2021, 61 additional green buildings that won certificates were constructed by the company with a combined area of ​​9.15 million square meters , while 124 new Sponge City projects have been added with a floor area exceeding 8.65 million square meters. meters.

In terms of technological innovation, Subsidiary Bright Dream Robotics has made the final smart settings adjustments to its sprayer robot. This is the first time that such a robot is presented worldwide. Bright Dream Robotics has passed the “BIM+FMS+WMS+construction robot” multi-machine construction system acceptance test in Shantou, and is the first construction company in the world to do so.

By the end of 2021, Country Garden had nearly 50 kinds of robots under development, including 18 kinds of construction robots that had been commercially applied and leased or sold, involving more than 350 projects in 25 provinces in China. In addition, more than 730 construction robots have been delivered, managing a total applied construction area of ​​over 7 million square meters.

Additionally, Country Garden continues to increase its investments in renewable and sustainable energy as well as green and environmentally friendly technologies, while expanding the carbon-neutral portfolio through Country Garden Venture Capital, its investment division. investment in shares.

In 2021, Country Garden Venture Capital has achieved many milestones in the carbon neutral sector, investing in several carbon neutral companies including SVOLT Energy, Morion Nanotech and UtmoLight Technology. The company was listed in the “Top 10 Carbon Neutral Investment Institutions” of the year by lieyunwang.com, and entered the investment portfolios of Hang Seng ESG ETF, GX Hang Seng ESG, VSGXETF and several other ETF funds around the world.

Meanwhile, Country Garden is taking meaningful action to counter climate change and protect biodiversity.

An example is the Country Garden Forest City project. In 2021, Forest City Fisherman’s Wharf and Sea Shell Exhibition Center began the installation of several solar photovoltaic power plants, with a planned installed capacity of 405 kWp and an estimated power supply of 480,000 kWh per year.

In 2021, Forest City won the Construction21 International Green Solution Award for its comprehensive solutions, including the project to recycle water resources and protect biodiversity. It also won the SCAHSA Global Model of Low-Carbon City Planning and Design Award from the Sustainable Cities and Human Settlements Awards (SCAHSA) with its green and low-carbon development concept.

Country Garden engages in philanthropic actions while developing its core business.

To date, Country Garden Group and its founder have donated over 10 billion yuanand has actively participated in targeted poverty alleviation projects in 57 counties of 16 Chinese provinces, helping over 490,000 people lift out of the poverty line.

Country Garden founder and chairman Yang Guoqiang and his family were the fourth most generous providers of charitable cash donations in China in 2021 according to the 2021 Chinese Philanthropy List released by Forbes China. This is the 13th time the Yang family has been listed.

SOURCE Country Garden Holdings

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NB Private Placements: Monthly Net Asset Value Update for May https://gnet.org/nb-private-placements-monthly-net-asset-value-update-for-may/ Wed, 15 Jun 2022 06:00:00 +0000 https://gnet.org/nb-private-placements-monthly-net-asset-value-update-for-may/ June 15, 2022 NB Private Equity (NBPE), the $1.4 billion listed private equity investment firm managed by Neuberger Berman, today releases its monthly estimate of net asset value as of May 31, 2022. Strong points (at 31 May 2022) Net asset value per share of $29.55 (£23.45) 2% increase since April 30, 2022, largely due […]]]>

June 15, 2022

NB Private Equity (NBPE), the $1.4 billion listed private equity investment firm managed by Neuberger Berman, today releases its monthly estimate of net asset value as of May 31, 2022.

Strong points (at 31 May 2022)

  • Net asset value per share of $29.55 (£23.45)
  • 2% increase since April 30, 2022, largely due to updated first quarter 2022 private company valuation information
  • All direct private equity investments are now valued based on March 31, 2022 valuation information, representing a 2% increase in value from December 31, 2021 for the private company’s portfolio.
  • Year-to-date, this increase in private company valuations has been offset by lower valuations of NBPE-listed portfolio companies, resulting in a 5% decline in TR NAV since the start of the year. year
  • Total announced year-to-date portfolio realizations of $120 million
  • Well positioned to take advantage of investment opportunities – $368 million in cash and undrawn credit lines available
To 31 May 2022* YTD 1 year 3 years 5 years 10 years
NAV TR (USD) (5.2%) 19.7% 75.4% 114.2% 259.6%
MSCI World TR (USD) (12.8%) (4.5%) 45.0% 63.2% 201.2%
TR stock price (GBP) (16.5%) 17.1% 57.5% 73.0% 393.6%
FTSE All-Share TR (GBP) 1.5% 8.3% 18.4% 22.2% 117.0%

*Reflects cumulative returns over the periods indicated and is not annualized.

Activity Report (at May 31st 2022)

Net asset value increased by 2% in May 2022, thanks to the receipt of private company valuation information for the first quarter of 2022

  • Net asset value up 1.5% ($22 million) during the month of May following Q1 2022 private company valuation news
  • Increase of 0.5% ($7 million) due to positive public valuations and positive currency movements

$120 million in achievements announced in 2022

  • 2022 year-to-date announced achievements of 120 million dollars1
    • Five full or partial divestments announced in 2022 include: the remaining assets of Telxius, the announced full divestments of Leaseplan and Omega Environmental Technologies, the partial completion of MHS Global and the sale of an additional unannounced transaction which was signed in June but has not been closed yet2
    • These five total or partial disposals announced should generate a gross capital multiple of 2.9x and an increase of 8% compared to the valuations of December 31, 2021

New investment activity

  • NBPE is well positioned to take advantage of new opportunities
  • Continue to cautiously assess new opportunities with a focus on investing in our two key themes, long-term secular growth and/or low cyclicality

Solid liquidity

  • $368 million in available cash ($68 million in cash3$300 million unused line of credit)
  • NBPE converted into US dollars the equivalent of approximately £32 million in May, representing approximately 50% of the ZDP 2022 final principal entitlement which matures in September 2022

Portfolio valuation

The fair value of the NBPE portfolio as of May 31, 2022 was based on the following information:

  • 17% of the portfolio is valued as of May 31, 2022
    • 14% in public securities
    • 3% in direct private investments
  • 83% of the portfolio is valued as of March 31, 2022
    • 82% in direct private investments
    • 1% in private funds

For more information, please contact:

NBPE Investor Relations +1 214 647 9593

Kaso Legg Communications +44 (0)20 3995 6673

Charles Gorman nbpe@kl-communications.com

Additional information

Company Name Ancient Main sponsor Sector Just value % of VF
Automotive Constellation 2019 TDR Capital Business services 81.0 5.5%
AutoStore (OB.AUTO) 2019 THL Industrial / Industrial Technology 58.6 4.0%
Stock 2020 3i Consumer / E-commerce 53.0 3.6%
Handling systems 2017 THL Industrial / Industrial
Technology
49.5 3.4%
Agiliti (NYSE:AGTI) 2019 THL Health care 48.3 3.3%
USI 2017 KKR Financial services 42.0 2.9%
kroll 2020 Also Global/Stone Point Financial services 41.0 2.8%
GFL (NYSE: GFL) 2018 BC Partners Business services 34.9 2.4%
Excelitas 2017 AEA Investors Computer technology 32.7 2.2%
Beyond Trust 2018 Francisco Partners Computer technology 32.2 2.2%
Cotiviti 2018 Capital Veritas Health care 32.1 2.2%
Marquee brands 2014 Neuberger Berman Consumer / E-commerce 32.0 2.2%
Business Services Company* 2017 Not disclosed Business services 31.4 2.1%
Advisor group 2019 capital of reverence Financial services 31.4 2.1%
Auctane 2021 Thomas Bravo Computer technology 30.0 2.0%
Branded toy company* 2017 Not disclosed Consumer / E-commerce 26.5 1.8%
Stubhub 2020 Neuberger Berman Consumer / E-commerce 26.4 1.8%
Engineering 2016 NB Renaissance / Bain Capital Computer technology 24.8 1.7%
True potential 2022 Cinven Financial services 24.5 1.7%
Staples 2017 Sycamore Partners Business services 22.1 1.5%
Branded Cities Network 2017 clover capital Communication / Media 21.8 1.5%
The chemistry guys 2021 AEA Investors Consumer / E-commerce 21.1 1.4%
Bylight 2017 Sagewind Partners Computer technology 20.4 1.4%
Solénis 2021 Platinum Stocks Industrial 19.8 1.3%
Accedian 2017 Bridge Growth Partners Computer technology 18.5 1.3%
telxius 2017 KKR Communication / Media 18.2 1.2%
Addison Group 2021 Trilantic Capital Partners Business services 18.1 1.2%
Petsmart / Chewy (NYSE:CHWY) 2015 BC Partners Consumer / E-commerce 17.5 1.2%
Peraton 2021 Capital Veritas Computer technology 17.1 1.2%
Renaissance learning 2018 Francisco Partners Computer technology 16.8 1.1%
Total top 30 investments 943.8 64.1%

*Company not disclosed due to confidentiality clauses.

Geography % of Wallet
North America 72%
Europe 24%
Asia / Rest of the world 4%
Total portfolio 100%
Industry % of Wallet
Tech, Media & Telecom 21%
Consumer / E-commerce 19%
Industrial / Industrial Technology 16%
Business services 14%
Financial services 12%
Health care ten%
Other seven%
Energy 1%
Total portfolio 100%
Vintage Year % of Wallet
2014 and before 4%
2015 3%
2016 seven%
2017 26%
2018 20%
2019 17%
2020 11%
2021 ten%
2022 2%
Total portfolio 100%

About NB Private Equity Partners Limited
NBPE invests in direct private equity investments alongside leading private equity firms in the global market. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly-owned subsidiary of Neuberger Berman Group LLC, is responsible for the sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fees / no deferred interest payable to third-party GPs, providing better fee efficiency than other listed private equity firms. NBPE seeks capital appreciation through growth in net asset value over time while paying a semi-annual dividend.

LEI number: 213800UJH93NH8IOFQ77

About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies, including equities, fixed income, quantitative and multi-asset classes, private equity, real estate and hedge funds, on behalf of institutions, advisors and individual investors in the whole world. With offices in 25 countries, Neuberger Berman’s diverse team includes more than 2,500 professionals. For eight consecutive years, the company has been named first or second in the Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 or more employees). In 2020, the PRI named Neuberger Berman a Leader, a designation awarded to less than 1% of investment companies for excellence in environmental, social and governance (ESG) practices. The PRI also gave Neuberger Berman an A+ in each qualifying category for our approach to ESG integration across all asset classes. The company manages $447 billion in client assets as of March 31, 2022. For more information, please visit our website at www.nb.com.


1 $56 million of in cash from achievements received through May 31, 2022, of which $17 million was attributable to a sale announced in 2021, but received in 2022. Including realization signed in June 2022, the NBPE foresees a total Additional cash proceeds $81 million, which would result in $120 million of total achievements in 2022.
2 Pending achievements are subject to customary closing conditions. No guarantee can be given as to the final closing of the transactions.
3 Understand £31.8 million of cash converted to USD at month-end exchange rate.

  • NBPE Fact Sheet May 2022 vF

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The best sustainable funds of 2022 face a tough market https://gnet.org/the-best-sustainable-funds-of-2022-face-a-tough-market/ Thu, 09 Jun 2022 14:52:01 +0000 https://gnet.org/the-best-sustainable-funds-of-2022-face-a-tough-market/ After years of strong performance, sustainable investing mutual funds took a beating in 2022, but a handful of strategies were able to outperform. The catch: Some of them have been boosted by energy stocks, investments that some investors in environmental, sustainability and governance funds try to avoid. This year has been difficult for many ESG […]]]>

After years of strong performance, sustainable investing mutual funds took a beating in 2022, but a handful of strategies were able to outperform.

The catch: Some of them have been boosted by energy stocks, investments that some investors in environmental, sustainability and governance funds try to avoid.

This year has been difficult for many ESG funds. Energy stocks were the best performers, but most sustainable strategies hold little or no oil company stocks due to the link between oil and gas consumption and climate change. At the same time, sustainable funds tend to have outsized weightings in tech stocks, many of which have been battered in 2022.

As a result, 65% of sustainable US equity funds are at the bottom of their rankings in the Morningstar category in terms of year-to-date performance. Like any strategy, sustainable funds can outperform or underperform over shorter periods. Over longer periods, ESG funds have, on average, performed well, with 53% of US equity ESG funds in the top half of their category.

Despite headwinds in 2022, six sustainable funds covered by Morningstar analysts rank in the top half of their categories. Five of them have a Bronze or Silver Morningstar Analyst Rating. For the most part, their strong performance in 2022 is not limited to this year alone. Over the past five years, four of the six funds have ranked in the top 10% of all funds in their respective categories.

Calvert Equity CEYIX is among the ESG funds that managed to rank in the top quarter of its category, with a year-to-date performance nearly 6 percentage points above the average for high-growth funds. Calvert Equity benefited from a lighter weighting in technology stocks than most funds in the category. Only 20% of the portfolio is invested in technology stocks, compared to an average of 35% for high growth funds.

Calvert Equity also outperformed on its avoidance of Facebook parent company Meta Platform’s FB stock due to concerns about the company’s governance practices. Meta stock is down 40.9% this year.

Calvert’s exposure to commodity materials was also positive. Morningstar Managing Partner Tony Thomas notes that most ESG-focused peers barely invest in basic materials. But Calvert’s December 2021 portfolio held 7.2% of its assets in this sector.

The fund’s outperformance is not limited to the period since the beginning of the year. Over the past five years, Calvert Equity has ranked in the top 10% of its peers.

The Calvert US Large-Cap Growth Responsible Index CGJIX also outperformed in the high growth category, losing 19.46%. The fund tracks the Calvert US Large Cap Growth Responsible Index, which targets growth companies that operate in a manner consistent with Calvert’s responsible investment principles, writes Morningstar associate analyst Lan Anh Tran.

Amana Growth AMIGX was supported for another reason: a large cash stake that protected investors against the stock market decline. Amana held 9.3% of its portfolio in cash compared to an average of 1.9% in the category as of May 31.

The fund was also boosted by its holdings in biotech companies Eli Lilly LLY and Amgen AMGN, according to Morningstar Direct. The fund’s sole materials holding, Newmont NEM, also boosted the fund’s performance, with the stock gaining 12.6% on the year to June 2.

This marks a turnaround for the fund, writes Morningstar senior analyst David Kathman. “The same stocks made the fund trail its peers through the last nine months of 2020, when riskier, aggressive growth names led the pack, but in 2021 the fund looked great, ranking in the top 5% of the Morningstar High Growth category. .”

A line chart comparing the three best performing ESG funds to their high growth category average so far in 2022.

Large Scale Mixed Funds

The average broad-blend fund is down 11.4% this year, but Amana Income AMINX has outperformed along with other income-focused funds in the category, which have performed well as investors seek income stability dividends in a difficult market.

Down just 9% so far in 2022, Amana Income has benefited from its healthcare picks, including Eli Lilly, Bristol-Myers Squibb BMY and AbbVie ABBV, according to Morningstar Direct. Kathman writes that “managers look for stocks that pay a dividend and have higher yields than the S&P 500, but also have reasonable price-earnings ratios and consider age-old ESG factors when deciding which stocks are attractive.”

Pioneer PIODX lands in the basket of ESG funds that performed well in 2022 thanks in part to its holdings in energy stocks. The fund held a 3.8% stake in Schlumberger SLB as of April 30 and a 2.5% position in EOG Resources EOG. Schlumberger is up 64.4% in 2022 and EOG up 67.1%.

“A surprising part of the fund’s outperformance is due to an overweight in energy, a sector it has been underweight in recent years,” said Morningstar analyst Jack Shannon. “They only have two positions in the sector, but they recently bought EOG in September and have increased their stake in it by more than 40% since February, which has paid off.”

A line graph of the performance of broad-mix ESG funds in 2022 so far.

Small Cap Funds

Similarly, in the small blends category, Boston Trust Walden Small Cap BOSOX outperformed in part due to its energy exposure. “Unlike some ESG offerings, this team is willing to own companies in the energy and materials sectors,” writes Andrew Daniels, associate director at Morningstar. “In the energy sector, the team believes that drilling company Helmerich & Payne HP and wellhead manufacturer Cactus WHD have strong operating positions in addition to low ESG risks relative to their peers.”

The fund’s portfolio also ranks as one of the least volatile options on small mixes, contributing to an excellent long-term performance track record on a risk-adjusted basis, Daniels writes. The fund ranks in the 5th percentile of all small mix funds for five-year returns.

A line chart comparing the year-to-date performance of the Boston Trust Walden Small Cap with the mid-cap small-cap fund.

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China-backed eVTOL startup Zerog closes nearly RMB 10 million seed round https://gnet.org/china-backed-evtol-startup-zerog-closes-nearly-rmb-10-million-seed-round/ Tue, 07 Jun 2022 06:50:00 +0000 https://gnet.org/china-backed-evtol-startup-zerog-closes-nearly-rmb-10-million-seed-round/ HONG KONG, June 7, 2022 /PRNewswire/ — Zerog, a Chinese developer of electric vertical take-off and landing (eVTOL) aircraft, recently completed a 10 million RMB ($1.48 million) seed round with BlueRun Ventures China (BRV China) as sole investor. Funding closes as NankeenThe New York-based start-up unveils ZG-ONE, its pioneering eVTOL aircraft for low-altitude tourism. The […]]]>

HONG KONG, June 7, 2022 /PRNewswire/ — Zerog, a Chinese developer of electric vertical take-off and landing (eVTOL) aircraft, recently completed a 10 million RMB ($1.48 million) seed round with BlueRun Ventures China (BRV China) as sole investor. Funding closes as NankeenThe New York-based start-up unveils ZG-ONE, its pioneering eVTOL aircraft for low-altitude tourism. The Zerog is the only publicly known eVTOL company in China which simultaneously develops eVTOL aircraft with three configurations: multi-rotor, composite wing and tiltrotor.

Established in March 2021 by Xiang Jinwu, Dean of the School of Aeronautical Science and Engineering, Beihang University and a leading scholar at the Chinese Academy of Engineering, Zerog’s first-generation eVTOL aircraft, ZG-ONE , adopts a six-axis, six-paddle configuration, weighs 650 kg, and can carry two people. This model is intended for production with delivery expected in the second half of the year in small batches. In addition to providing travel services, ZG-ONE is fully functional in multiple scenarios such as logistics and transportation, emergency rescue, and geological exploration.

Along with ever-increasing demand, the global eVTOL aircraft market is expected to grow by an estimated $8.5 billion in 2021 until $30.8 billion by 2030, at a CAGR of 15.3% over the forecast period, according to a research report published by MarketsandMarkets™. Morgan Stanley believes the Urban Air Mobility (UAM) market will hit 1 trillion dollars by 2040, of which the Chinese market represents a quarter.

Persistent urban traffic problems are driving demand for alternative modes of transport. UAM aircraft such as eVTOLs then emerged as practical substitutes. Some eVTOL aircraft are specialized for short trips that can avoid road traffic in congested cities. Generally less expensive than helicopters operationally, they are the right tools for cargo delivery and mid-mile and last-mile medical services. Thus, the demand for UAM in urban mobility applications is expected to multiply in the coming years.

Terry ZhuManaging Partner at BRV China, says, “For eVTOLs to fully flourish, some complex technological thresholds must be crossed. The Zerog team has comprehensive technical skills and product engineering capabilities. much wider applications.

Zerog has established a presence in Hefei National High School– Technology industry development zone. It is to launch the first production line of ZG-ONE in July with which mass production will be on the way. The company has already obtained a number of orders for the planned products. Zerog’s product line will include the second-generation composite wing model, the ZG-VC2, and the third-generation tilt-rotor model, the ZG-T6, which seats six. Tiltrotor aircraft are generally recognized as the most sophisticated eVTOLs in terms of technical development and can operate with the greatest overall efficiency.

Mr. Zhu adds, “With an ever-growing urban population around the world, cities and metropolises will inevitably consider UAM as a complementary mode of transportation as they seek to reduce pollution, improve connectivity and alleviate pressure on existing transportation networks.As a signatory to the United Nations-backed Principles for Responsible Investment (PRI) program, we focus on investing in innovative businesses that deliver positive environmental and social outcomes .NT.

“We can clearly see that the development of UAM has reached a critical point in terms of technological advancement, global capital market support and consumer demand. BRV China will continue to shine the spotlight on eVTOL investments in areas such as products, business models and infrastructure,” Zhu said.

Zerog’s founding team says, “With an initial specialization in eVOTLs, we aim to deliver smarter, faster, safer and more cost-effective solutions in UAM. Our goal is to bring electric aircraft to life and contribute to the airline industry China and the world.”

A Bexcluding BRV China

BlueRun Ventures China (BRV China) is a leading venture capital firm in China with offices at beijing and Shanghai. Having its heritage in Silicon Valley since 1998 and entered China in 2005, BRV China managed over $1.5 billion via several funds in USD and RMB, with more than $1 billion cash distributions. BRV China is focused on investing in entrepreneurs who create lasting impact through technological innovations in business services, transport and smart machinery, digital healthcare and consumer technologies in China. The company has invested in more than 150 portfolio companies, including Li Auto (NASDAQ: LI), QingCloud (688316.SH), WaterDrop (NYSE: WDH), Energy Monster (NASDAQ: EM), Mogujie/Meilishuo (NYSE: MOGU ), Qudian (NYSE:QD), Ganji/58.com, PPTV, Guazi, Meishubao, Nanyan, Shanzhen, Gaussian Robotics, Yi Auto, Pinecone, etc. ” in China by Zero2IPO and ChinaVenture, and “Consistent Performing Venture Capital Fund Manager” by Preqin. For more information, please visit https://www.brv.com.cn/en/.

SOURCE BRV China

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Farmers will get ‘vast majority’ of BPS money – Eustice https://gnet.org/farmers-will-get-vast-majority-of-bps-money-eustice/ Wed, 01 Jun 2022 23:12:01 +0000 https://gnet.org/farmers-will-get-vast-majority-of-bps-money-eustice/ Defra Secretary George Eustice has promised English farmers they will receive the ‘vast majority’ of funds released from the Basic Payment Scheme (BPS) over the next three years, insisting the money will go in green programs “accessible and achievable for any farm”. Farm leaders have raised concerns over Defra’s proposals to evenly split the £2.4billion […]]]>

Defra Secretary George Eustice has promised English farmers they will receive the ‘vast majority’ of funds released from the Basic Payment Scheme (BPS) over the next three years, insisting the money will go in green programs “accessible and achievable for any farm”.

Farm leaders have raised concerns over Defra’s proposals to evenly split the £2.4billion in subsidies paid to farmers in England each year between the three Environmental Land Management (ELM) schemes – the incentive to sustainable agriculture (SFI), the recovery of local nature and the recovery of the landscape.

The NFU, Tenant Farmers Association and others have warned that a three-way split will benefit wealthy landowners without protecting sharecroppers and small and medium-sized family farms.

See also: Opinion: Farmers are missing a trick by ignoring Defra schemes

However, writing exclusively for weekly farmersMr Eustice reveals that the vast majority of funds released by BPS over the next three years will be channeled to IFC, Countryside Stewardship and then its successor, Local Nature Recovery.

Over the same period, less than 1% of the agricultural budget will be spent on landscape recovery projects, equating to less than £50million over the next three years, with the rest funded from the separate fund Nature for Climate.

Mr Eustice writes: “We never wanted the future budget to be broken down into rigid European-style pillars, and we want funding to be driven by farmer demand. All the money that comes out of the BPS goes back into the sector.

The new programs will pay farmers to care for nature alongside profitable food production, he says, and support long-term farm food security and resilience.

Defra published full SFI guidelines on its website last week, and the scheme is open for applications from English farmers at the end of June. Soil health and regenerative farming techniques will be a focus, and farmers will be paid between £22/ha and £58/ha to protect soil.

SFI extension

Over the next several years, the SFI program will expand to cover IPM techniques, hedgerows and more.

“We won’t tell farmers what to do in detailed prescriptions, but we will support the choices they make,” Eustice writes.

Meanwhile, Defra plans to spend around £600m on agricultural innovation, productivity and prosperity over the next three years.

The NFU said it would “absolutely support” the vast majority of BPS money going to farmers to promote sustainable food production and environmental stewardship.

But the union said it was “misleading” to claim the value of ELM programs would match that of the old BPS (see “NFU reacts to budget commitment”).

NFU reacts to budget commitment

The NFU welcomed Defra’s promise to maintain a well-funded agriculture budget, but warned that money must be redirected to the right areas.

NFU Vice President David Exwood said environmental land management “doesn’t come free”, adding that participation would cost many farmers more than BPS.

The union continues to have “serious concerns” about the affordability and range of options offered under the Sustainable Agriculture Incentive (SFI), particularly for tenants and farmers in the highlands. lands.

“Along with a coalition of industry representatives, the NFU continues to urge Defra to adequately resource IFC with 65% of available funding, not the 30% currently earmarked, to ensure agriculture and food production can be at the forefront of British agriculture on the move. forward,” Mr. Exwood said.

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Galantas Announces Financial Results for the Quarter Ended March 31, 2022 https://gnet.org/galantas-announces-financial-results-for-the-quarter-ended-march-31-2022/ Tue, 31 May 2022 06:01:28 +0000 https://gnet.org/galantas-announces-financial-results-for-the-quarter-ended-march-31-2022/ TORONTO, May 31, 2022 (GLOBE NEWSWIRE) — Galantas Gold Corporation (the “Company”) (TSXV and AIM: Ticker GAL) (OTC: Ticker GALKF) is pleased to report its unaudited financial results for the quarter ended May 31, 2022. March 2022. Financial Highlights Highlights of the results for the first quarter of 2022, which are expressed in Canadian dollars, […]]]>

TORONTO, May 31, 2022 (GLOBE NEWSWIRE) — Galantas Gold Corporation (the “Company”) (TSXV and AIM: Ticker GAL) (OTC: Ticker GALKF) is pleased to report its unaudited financial results for the quarter ended May 31, 2022. March 2022.

Financial Highlights

Highlights of the results for the first quarter of 2022, which are expressed in Canadian dollars, are summarized below:

Quarter ended
March, 31st
All figures are in Canadian dollars (CDN$)
2022 2021
Revenue $ 0 $ 0
Costs and expenses of operations $ (46,639 ) $ (46,148 )
Loss before the under-mentioned $ (46,639 ) $ (46,148 )
Depreciation $ (130,531 ) $ (72,065 )
General administrative expenses $ (1,171,170 ) $ (505,097 )
Foreign exchange gain (loss) $ (67,472 ) $ (16,653 )
Net (Loss) for the quarter $ (1,415,812 ) $ (639,963 )
Working capital deficit $ (1,850,980 ) $ (8,532,943 )
Loss of cash from operating activities before changes in non-cash working capital $ (577,604 ) $ (296,161 )
Cash at March 31, 2022 $ 2,417,152 $ 487 193

Sales revenue for the quarter ended March 31, 2022 was $nil compared to revenue of $nil for the quarter ended March 31, 2021. Concentrate shipments commenced during the third quarter of 2019. preliminary concentrate sales totaled US$219,000 for the first quarter of 2022 compared to US$567,000 for the first quarter of 2021. Until the mine begins commercial production, net proceeds from concentrate sales are offset by development assets.

Net loss for the quarter ended March 31, 2022 was $1,415,812 (2021: $639,963) and cash used in operating activities before changes in non-cash working capital for the quarter ended March 31, 2022 amounted to $577,604 (2021: $296,161). .

The Company had a cash balance of $2,417,152 as of March 31, 2022 compared to $487,193 as of March 31, 2021. The working capital deficit as of March 31, 2022 was $1,850,980 compared to a working capital deficit working capital of $8,532,943 as at March 31, 2021.

Safety is a top priority for the Company and we continue to invest in safety training and infrastructure. The zero lost time accident rate since the start of underground operations continues. Environmental monitoring demonstrates a high level of regulatory compliance.

Detailed results and the management report (MD&A) are available on www.sedar.com and www.galantas.com and the highlights of this release should be read in conjunction with the detailed results and MD&A. The management report provides an analysis of comparisons with previous periods, trends affecting the business and risk factors.

Qualified person
The financial elements of this disclosure have been reviewed by Alan Buckley (Chief Financial Officer) and the production and authorization elements by Brendan Morris (COO), Qualified Persons as defined by NI. 43-101. The information is based on local production and financial data prepared under their supervision.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws, including revenue and cost estimates, for the Omagh Gold project. Forward-looking statements are based on estimates and assumptions made by Galantas in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that Galantas deems appropriate in the circumstances. . Many factors could cause the actual results, performance or achievements of Galantas to differ materially from those expressed or implied by the forward-looking statements or strategy, including: the volatility of the price of gold; differences between actual and estimated production, actual and estimated metallurgical recoveries and throughputs; mining operational risk, geological uncertainties; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign involvement; speculative nature of gold exploration; dilution; competition; the loss or availability of key employees; additional financing needs; uncertainties regarding planning and other permitting issues; and defective title to mining claims or property. These and other factors that could affect Galantas’ forward-looking statements are discussed in greater detail in the section entitled “Risk Factors” in Galantas’ Management Discussion & Analysis of Galantas’ Financial Statements and elsewhere in documents filed from time to time. with the Canadian provincial securities regulators and other regulatory authorities. These factors should be carefully considered and persons reading this press release should not place undue reliance on any forward-looking statements. Galantas has no intention and undertakes no obligation to update or revise the forward-looking statements contained in this press release, except as required by law.

The information in this announcement is deemed to be inside information as set out in the retained EU law version of the Market Abuse Regulation (EU) No 596/2014 (the “UK MAR”) which forms part of the UK law under the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company’s obligations under section 17 of the UK MAR. As of the publication of this announcement, this privileged information is henceforth considered to be in the public domain.

Requests

Galantas Gold Corporation
Mario Stifano – CEO
E-mail: info@galantas.com
Website: www.galantas.com
Telephone: 001 416 453 8433

Grant Thornton UK LLP (Nomadic)
Philip Secrett, Harrison Clarke, George Grainger, Samuel Littler:
Telephone: +44(0)20 7383 5100

Panmure Gordon & Co (AIM Broker & Corporate Adviser)
Hugh Rich, John Prior:
Telephone: +44(0)20 7886 2500

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Karora Resources announces C$50 million bought deal https://gnet.org/karora-resources-announces-c50-million-bought-deal/ Tue, 24 May 2022 23:08:22 +0000 https://gnet.org/karora-resources-announces-c50-million-bought-deal/ NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. TORONTO, May 24, 2022 (GLOBE NEWSWIRE) — Karora Resources Inc. (TSX: KRR; OTCQX: KRRGF) (“Korara” or the “Company”) is pleased to announce that it has entered into an agreement with Haywood Securities Inc. (“Haywood”), to act as joint lead […]]]>

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

TORONTO, May 24, 2022 (GLOBE NEWSWIRE) — Karora Resources Inc. (TSX: KRR; OTCQX: KRRGF) (“Korara” or the “Company”) is pleased to announce that it has entered into an agreement with Haywood Securities Inc. (“Haywood”), to act as joint lead manager and sole bookrunner, and Cormark Securities Inc. (together with Haywood, the “co-lead managers”), to act as joint lead lead manager, in their own name and in the name of a syndicate of underwriters (together with the co-lead managers, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, by way of firm, 10,417,000 common shares in the capital of the Company (the “Common”) at a price of C$4.80 per common share (the “Issue Price”) for gross proceeds to the Company of C$50,001,600 CAD (the “Offering”).

In addition, the Company has agreed to grant the underwriters an option to purchase up to 15% of the number of Common Shares sold under the Offering at a price per Common Share equal to the issue price, the same terms and conditions as the Offer, exercisable at any time, in whole or in part, until the date falling 30 days after the closing of the Offer.

The Company intends to use the net proceeds received from the Offering to fund a portion of the cash consideration due upon closing of the Lakewood mill acquisition, as further described in the company’s press release. the Company dated today (which transaction is subject to the satisfactory completion by the Corporation of its due diligence and other applicable closing conditions), the progress of the nickel exploration and development program of the Company at Beta Hunt, as well as for working capital and general corporate purposes.

The Common Shares will be offered by way of a short form prospectus to be filed in all provinces of Canada (except Quebec). The common shares will also be sold to U.S. purchasers in a private placement pursuant to an exemption from the registration requirements of Rule 144A of the U.S. Securities Act of 1933, as amended. and in other jurisdictions outside of Canada provided that no prospectus or comparable obligation arises.

The Offering is expected to close on or about June 15, 2022 and is subject to certain conditions, including, but not limited to, receipt of all necessary regulatory and other approvals, including Exchange approval of Toronto and securities regulators.

The securities offered under the Offer have not been and will not be registered under the US Securities Act of 1933, as amended (the “US Securities Act”) or any securities laws of United States, and may not be offered or sold in the United States or to, or on behalf of, or for the benefit of United States persons absent registration or any applicable exemption from the registration requirements of US securities law and applicable US securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, and there will be no sale of such securities in any jurisdiction in which such offer, solicitation or sale would be illegal.

About Karora Resources

Karora is focused on increasing gold production to a target range of 185,000 to 205,000 ounces by 2024 at its integrated Beta Hunt gold mine and Higginsville (“HGO”) gold operations in Australia -Western. The Higginsville processing facility is a low-cost 1.6 Mtpa processing plant, expanding to a planned 2.5 Mtpa by 2024, which is supplied at full capacity from Karora’s Beta Hunt underground mine and the Higginsville mines. At Beta Hunt, a robust gold mineral resource and reserve is hosted in several gold shears, with gold intersections along a 4 km strike length remaining open in multiple directions. HGO has significant mineral gold resources and reserves and a potential land package totaling approximately 1,900 square kilometers. The Company also owns the high-quality Spargos Reward project, which entered production in 2021. Karora has a strong Board of Directors and management team focused on creating shareholder value and the responsible mining, as evidenced by Karora’s commitment to reducing emissions across all of its operations. Karora’s common stock trades on the TSX under the symbol KRR and also trades on the OTCQX market under the symbol KRRGF.

Caution Regarding Forward-Looking Statements

This press release contains “forward-looking information”, including, without limitation, statements relating to Karora’s liquidity and capital resources, production expectations and potential for the Beta Hunt mine, mining Higginsville Gold Project, the Aquarius Project and the Spargos Gold Project, the commencement of mining on the Spargos Gold Project and the completion of the resource estimate.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Karora’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. prospective. Factors that could affect earnings include, among others: future metal prices and supply; drilling results; the inability to raise the necessary funds to incur the necessary expenses for the preservation and advancement of the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs; accidents, labor disputes and other hazards of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected operating costs, failure to obtain regulatory or shareholder approvals. For a more detailed discussion of these risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, see Karora’s filings with Canadian securities regulators. Securities, including the most recent Annual Information Form, available on SEDAR at www.sedar.com.

Although Karora has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actual actions, events or results differ from those anticipated, estimated or expected. . The forward-looking statements contained herein are made as of the date of this press release, and Karora disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities. laws.

For more information please contact:

Rob Buchanan
Director, Investor Relations
Such. : (416) 363-0649
www.karoraresources.com

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