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Harry and Meghan’s polo docuseries to highlight ‘grit behind the glamour’VANCOUVER, BC , Nov. 26, 2024 /PRNewswire/ - Lumina Gold Corp. (TSXV: LUM) (OTCQB: LMGDF ) (the "Company" or "Lumina") is pleased to announce that it has completed negotiating the terms of the Exploitation Contract with the Government of Ecuador and signed a binding term sheet (the "Term Sheet") in preparation for the finalization of the Exploitation Contract for its 100% owned Cangrejos project (the "Project"), located in southwest in Ecuador . Marshall Koval , CEO & Director commented: "This is a major step for the Project and Ecuador on the path to the development of the largest primary gold deposit in the country. Lumina Gold would like to thank all the Government representatives that worked on the negotiations and all our local stakeholders that have supported the Project to date. The royalty terms we have agreed upon are in line with Lumina's 2023 Pre-Feasibility Study and position the Project well for the upcoming Feasibility Study expected in Q2 2025." In addition, the signing of the Term Sheet satisfies a required condition of the amended precious metals purchase agreement (the "PMPA") with Wheaton Precious Metals International Ltd., a wholly-owned subsidiary of Wheaton Precious Metals Corp. ("Wheaton"). It is expected that Wheaton will fund the remaining US$6.0 million of the Early Deposit under the PMPA on December 2, 2024 . Term Sheet Summary: The Advance Royalty Payments will be credited to the accrued amount of each period against the lesser of 50% of the royalties payable in each semester or 10% of the total advance royalty payments in the semester until the advance royalty is settled in full. In accordance with current legislation, the Exploitation Contract also provides that the Government of Ecuador's share of cumulative discounted benefits derived from the Project will not be less than 50% on a net cumulative present value basis. Each year, to the extent that the Government of Ecuador's cumulative Project benefit falls below 50% on a net present value basis, the Company will be required to pay an annual sovereign adjustment. The Government of Ecuador's benefit will be calculated as the present value of the cumulative sum of taxes paid, including corporate income taxes, royalties, labour profit sharing paid to the State, non-recoverable VAT and any previous sovereign adjustment payments. Based on the 2023 Pre-Feasibility Study assumptions included in the Project's financial model, it is not expected that the Company would be required to make any such payments. The Term Sheet also includes a mechanism for correcting any economic imbalance for the Company as a result of changes in taxes, laws and regulations in place at the date of the signing of the Exploitation Contract. This mechanism removes a significant amount of uncertainty for the economic regime governing the Project in the future. The Term Sheet also contains various investor protection rights, ensuring the protection of the Company's interest in the Project including, among other things, autonomy and freedom of the Company to make its commercial decisions and a dispute resolution mechanism through international arbitration. In the following months, the Company will apply to Ministry of Energy and Mines to change the Project's official status from exploration phase to exploitation phase (the "Phase Change Application"). The Company has up to six months after registering the approval of the Phase Change Application with the Mining Registry to execute the Exploitation Contract with the Government of Ecuador . Once executed, the Exploitation Contract is required to be registered with the Mining Registry and will be made publicly available on the Company's profile on the SEDAR+ website maintained by the Canadian Securities Administrators at www.sedarplus.ca . Once the Exploitation Contract is signed, an Environmental License must be obtained in order to start the exploitation phase. The Company expects to complete applications and supporting public hearings for the Environmental License in 2025. About Lumina Gold Lumina Gold Corp. (TSXV: LUM) is a Vancouver, Canada based precious and base metals development company focused on the Cangrejos Gold-Copper Project located in El Oro Province, southwest Ecuador . In 2023, the Company completed a Pre-Feasibility Study for Cangrejos, which is the largest primary gold deposit in Ecuador . Lumina has an experienced management team with a successful track record of advancing and monetizing exploration projects. Follow us on: Twitter , Linkedin or Facebook . Further details are available on the Company's website at https://luminagold.com/ . To receive future news releases please sign up at https://luminagold.com/contact . LUMINA GOLD CORP. Signed: "Marshall Koval" Marshall Koval , President & CEO, Director Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward-Looking Information Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: the signing of the Exploitation Contract, the timing for completion of a Feasibility Study for the Project; the development of the Project; receiving the remaining US$6 million from Wheaton; the application to change the Project's official status from "exploration" to "exploitation" and completing applications and supporting public hearings for the Environmental License. Often, but not always, forward-looking statements or information can be identified by the use of words such as "will" or "projected" or variations of those words or statements that certain actions, events or results "will", "could", "are proposed to", "are planned to", "are expected to" or "are anticipated to" be taken, occur or be achieved. With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about: the terms of the Exploitation Contract aligning with the Term Sheet, without material variation; the Company's ability to meet its obligations under the PMPA; general business and economic conditions; the prices of gold and copper; and anticipated costs and expenditures. The foregoing list of assumptions is not exhaustive. Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with Canadian securities administrators. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. SOURCE Lumina Gold Corp.DALLAS and VANCOUVER, British Columbia and ROME, Dec. 13, 2024 (GLOBE NEWSWIRE) -- AleAnna, Inc. (together with its subsidiaries, “AleAnna” or the “Company”), an emerging leader in Italy’s energy landscape, announced the completion of the previously announced business combination (the “Business Combination”) between Swiftmerge Acquisition Corp. (NASDAQ: IVCP) (“Swiftmerge”), a special purpose acquisition company, and AleAnna Energy, LLC (“AleAnna Energy”). Concurrent with the completion of the Business Combination, Swiftmerge has changed its name to AleAnna, Inc. Commencing at the open of trading on December 16, 2024, the Class A shares of common stock and warrants of AleAnna are expected to begin trading on the NASDAQ Capital Market under the ticker symbols “ANNA” and “ANNAW”, respectively. The transaction was unanimously approved by the Board of Directors of Swiftmerge and was approved at an extraordinary general meeting (the “Shareholders Meeting”) of Swiftmerge’s shareholders on December 12, 2024. Former equity holders of AleAnna Energy rolled 100% of their equity interests into the combined company. Prior to the execution of the Agreement and Plan of Merger, dated June 6, 2024, AleAnna Energy's equity holders contributed over $60 million in cash, bringing the company's total cumulative investment to nearly $175 million. This infusion of capital enabled the completion of the Longanesi Field tie-in and the acquisition of initial renewable natural gas (“RNG”) assets, both finalized in Q3 2024. Additionally, the investment covered expenses related to the business combination and provided funding for general corporate liquidity. As of the transaction close, AleAnna had approximately $28 million in cash and cash equivalents on its balance sheet and no debt. This disciplined approach to financial management has empowered AleAnna to allocate significant capital to innovative exploration and development projects while preserving financial flexibility. Long History In Developing Resources in Italy AleAnna has a distinguished history in Italy, having been a leader in energy exploration and development for over a decade. Since its founding in 2007, the company has been dedicated to unlocking the significant potential of Italy’s natural gas reserves through the application of cutting-edge seismic imaging and environmentally responsible practices. AleAnna holds one of the largest portfolios of exploration permits and production concessions in Italy, spanning over 2.3 million acres. By combining advanced technology with a deep respect for Italy’s cultural and environmental heritage, AleAnna is expected to play a pivotal role in bolstering the nation’s energy independence and economic growth, earning its reputation as a trusted partner in Italy’s energy future. Positioning itself as a leader in both onshore conventional natural gas and renewable natural gas (RNG) production, AleAnna is at the forefront of building a secure and reliable domestic energy supply for Italy and the broader European market. The company stands on the cusp of a major milestone, with the first phase of natural gas production from the Longanesi Field projected to commence in Q1 2025. Alongside this, additional gas discoveries at Gradizza and Trava, 13 development prospects in various permitting stages, and leases covering approximately 2.3 million net acres underscore AleAnna’s commitment to future exploration and development. AleAnna is also helping drive the European Union's clean energy transition through its innovative approach to RNG. Leveraging the strategic overlap between its conventional and renewable assets in the Po Valley, AleAnna is transforming agricultural waste into renewable energy. With three RNG facilities operational and over 100 additional opportunities identified, AleAnna is poised for significant expansion in this sector. Guided by a commitment to corporate responsibility and a vision for a sustainable future, AleAnna integrates conventional and renewable energy solutions to reduce Europe’s carbon footprint and advance its clean energy objectives. By delivering innovative energy solutions, AleAnna continues to shape Italy’s energy landscape and support the EU’s transition toward a greener future. Experienced Management And Board Of Directors The combined company will be led by William Dirks as Executive Director and Marco Brun as Chief Executive Officer, supported by a seasoned and highly skilled executive team. AleAnna’s leadership team brings extensive expertise gained from top-tier energy companies, including Shell, Eni, and Exxon. This seasoned group combines in-depth knowledge of energy technology, operations, and business development with well-established regulatory and industry networks in Italy. Their collective experience equips AleAnna to effectively navigate the dynamic and rapidly evolving energy landscape. The Board of Directors, which will include Graham van’t Hoff, William Dirks, Marco Brun, Duncan Palmer, and Curtis Hébert, collectively brings a wealth of experience spanning global energy markets, technical and operational expertise, European energy development, financial management, governance, and regulatory policy. This diverse set of skills and perspectives ensures comprehensive strategic oversight and positions AleAnna for sustained growth and success. With over 15 years of investment and operational experience in Italy, AleAnna has a competitive advantage in securing critical permits and approvals, positioning it ahead of its peers. The company’s approach integrates cutting-edge technologies and industry-leading practices with strategic capital allocation to maximize the value of its conventional and renewable natural gas (RNG) assets. AleAnna is dedicated to sustainable, low-cost growth while maintaining strict capital discipline. By prioritizing innovation, efficiency, and long-term shareholder value, AleAnna is well-positioned to lead the next phase of Italy’s energy transformation. Management Commentary Bill Dirks, Executive Director of AleAnna, commented, “Our investment in state-of-the-art subsurface technology has been a game-changer for AleAnna. By leveraging advanced seismic imaging and cutting-edge data analysis, we have achieved unparalleled accuracy in identifying and developing Italy’s natural gas resources. This technology not only enhances our operational efficiency but also ensures that our exploration and development activities are conducted in an environmentally responsible manner, aligning with our commitment to sustainability and innovation in the energy sector.” Marco Brun, AleAnna’s Chief Executive Officer, added, “We stand at a pivotal moment in AleAnna's journey. As we gear up for production at Longanesi and scale our renewable natural gas (RNG) operations, we are proud to be at the forefront of driving a sustainable energy future. This strategy not only delivers value to AleAnna shareholders but also plays a key role in reshaping the energy landscape for generations to come.” About AleAnna, Inc. AleAnna is an innovative energy company dedicated to unlocking Italy's extensive natural gas reserves and advancing renewable energy solutions to address the country's energy needs and support Europe's sustainability and energy security goals. With a vast portfolio encompassing over 2.3 million acres of potential resources and state-of-the-art technologies, AleAnna is poised to lead Italy's energy transition. Guided by a commitment to environmental responsibility and operational excellence, AleAnna is shaping a sustainable and secure energy future. The company operates regional headquarters in Dallas, TX, and Rome, Italy, serving as strategic hubs for its global and local initiatives. Forward-Looking Statements The information included herein contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Certain statements, other than statements of present or historical fact included herein, regarding the Business Combination, the anticipated benefits of the Business Combination, AleAnna’s future financial performance following the Business Combination, as well as AleAnna’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used herein, including any statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements. However, not all forward-looking statements contain such identifying words. These forward-looking statements are based on AleAnna management’s current expectations and assumptions about future events. They are based on current information about the outcome and timing of future events. You should not place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as otherwise required by applicable law, AleAnna disclaims any duty to update any forward-looking statements, all expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. AleAnna cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of AleAnna. These risks include, but are not limited to, general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the ability to recognize the anticipated benefits of the Business Combination and any transactions contemplated thereby, which may be affected by, among other things, competition, the ability of AleAnna to grow and manage growth profitably and retain its management and key employees; AleAnna’s need for additional capital to execute its business plan and support its anticipated growth; costs related to the Business Combination; the risks associated with the growth of AleAnna’s business and the timing of expected business milestones; AleAnna’s ability to identify, develop and operate new projects; the reduction or elimination of government economic incentives to the natural gas market; delays in acquisition, financing, construction and development of new projects; decline in public acceptance and support of renewable energy development and projects; the ability to obtain necessary regulatory and governmental permits and approvals; uncertainty regarding the EU’s clean energy transition, including existing regulations and changes to regulations and policies that affect AleAnna’s operations; the ability to maintain the listing of AleAnna’s securities on a national securities exchange; and the effects of competition on AleAnna’s future business. These forward-looking statements involve significant risks and uncertainties, and should one or more of the risks or uncertainties described herein and in any statements made in connection in addition to these occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. There may be additional risks that AleAnna does not know or that AleAnna currently believes are immaterial that could cause actual results to differ from those contained in the forward-looking statements. Additional information concerning these and other factors that may impact AleAnna’s expectations and projections can be found in filings it makes with the SEC, including the definitive proxy statement/prospectus filed by Swiftmerge and AleAnna Energy with the SEC on November 21, 2024, including those under “Risk Factors” therein, and other documents filed or to be filed with the SEC by AleAnna. SEC filings are available on the SEC’s website at www.sec.gov . Investor Relations Contact For AleAnna, Inc.: Bill Dirks wkdirks@aleannagroup.comWASHINGTON (AP) — A Dallas man who tried to fly overseas to join the Russian military and fight against Ukraine was sentenced on Friday to six months in prison for violating the terms of his probation for storming the U.S. Capitol four years ago. Kevin Loftus, a 56-year-old veteran of the U.S. Army, was stopped from boarding an Oct. 28 flight from Dallas to Tbilisi, Georgia, by way of Istanbul, Turkey, when Turkish Airlines identified a “security flag” associated with him, according to federal prosecutors. Loftus didn’t have the court’s permission to travel internationally or to drive from Texas to Iowa, where the FBI arrested him three days after his flight plans fell apart, prosecutors said. Loftus told the FBI that he had hoped to secure a 90-day visa to travel to Russia, where he intended to apply for temporary residency. Loftus said he had used the Telegram messaging platform to communicate with a man who would connect him with the Russian Territorial Defense Unit, a volunteer military corps. “Loftus said he had already sent the man approximately $1200 to purchase equipment for Russian soldiers,” prosecutors wrote . “Loftus said his intent was to fight for Russia and against Ukraine.” RELATED COVERAGE Court denies TikTok’s request to halt enforcement of potential US ban until Supreme Court review Unique among ‘Person of the Year’ designees, Donald Trump gets a fact-check from Time magazine Drones, planes or UFOs? Americans abuzz over mysterious New Jersey sightings Loftus declined to address the court before U.S. District Judge Dabney Friedrich sentenced him for the probation violation. The judge said Loftus has repeatedly violated court orders. “He doesn’t think these rules should apply to him,” Friedrich said. “He wants to be above the law.” Defense attorney Benjamin Schiffelbein said Loftus wanted to enlist in the Russian military because he “felt bad” for Russian soldiers and wanted to help them. “He had no idea whether they could make use of him,” the lawyer said. Loftus, a six-year Army veteran, intended to permanently relocate to another country, according to prosecutors. “And his planned travel was for the express purpose of joining a foreign army to take up arms against one of this country’s allies and in opposition to this country’s foreign policy,” they wrote. In January 2021, Loftus traveled from Wisconsin to Washington, D.C., to attend then-President Donald Trump’s “Stop the Steal” rally near the White House. After joining the mob of Trump supporters at the Capitol, he entered the building and took photographs. He spent approximately five minutes inside the Capitol. Loftus was arrested at his Wisconsin home several days after the riot. He pleaded guilty in October 2021 to a misdemeanor count of parading, demonstrating or picketing in a Capitol building. After his arrest, Loftus posted comments about his case on social media, referring to himself as “famous” and a “hero” for taking part in the Jan. 6 attack. “Loftus also stated that he gained that fame by ‘standing up for all Americans’ because he ‘broke the law,’ and he would file lawsuits against unidentified persons after the criminal case was over,” prosecutors wrote . Prosecutors recommended 30 days of imprisonment for Loftus, but Friedrich initially sentenced him to three years of probation. For his probation violation, prosecutors requested a six-month prison sentence. They noted that Loftus, while on probation, also was arrested in December 2023 and charged with driving while intoxicated in Richardson, Texas. Loftus was required to attend a substance abuse program, but he avoided jail time for that violation. Over 1,500 people have been charged with Capitol riot-related crimes. More than 1,000 of them have been convicted and sentenced, with roughly two-thirds receiving a term of imprisonment ranging from a few days to 22 years . Trump has repeatedly vowed to pardon Capitol rioters, but the district court judges in Washington, D.C., typically have refused to postpone sentencings, plea hearings and trials until after the president-elect returns to the White House.
NoneThomson Reuters Corp. stock rises Wednesday, outperforms market
NonePARIS (AP) — Riot police played their part as Le Havre won 2-0 at Nantes on Sunday in a French league match interrupted and then restarted during stoppage time after disgruntled home fans tried to get onto the field. The police formed a line in front of one of the stands, which houses the main ultras group, called Brigade Loire. Referee Jérôme Brisard then led the players off, with only about three minutes remaining in stoppage time.
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