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Doubleview Reports New Discovery: Gold Rich Zone Within the South Lisle Zone – Drill Interval of 405m of 0.21 g/t Gold (0.84% CuEq) That Extends the Main Lisle Deposit by 240 Meters

Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: A1W038) (the “Company or “Doubleview”) is pleased to announce drilling has extended the Lisle deposit 240m south, resulting in the discovery of the Company’s highest gold grades to date at its polymetallic Hat porphyry project, located in the Golden Triangle of northwestern British Columbia, Canada.

Drill holes H060, H061, H062 and H063, as shown in Figures 1 and 2, expand the Lisle Deposit by additional 240m to the south, called the Gold Rich Zone. This zone will increase the volume of mineralization that will be included in the maiden resource estimate which is being prepared by an independent engineering group and is expected in Q1 of 2024.

The South Lisle zone now extends the Main Lisle zone for 360m, please refer to the Company’s news release dated October 24^th 2023, and further more assays are pending for this Gold Rich Discovery zone.

Drill hole H063 marks the highlight of this group of drill holes with 0.21 g/t gold over 405m. The interval represents almost the entire drill hole. Remarkably, the Gold Rich Zone continues assaying similarly high values for scandium as in other parts of the deposit, in this case 25.5 g/t over 405m. With drill holes H061 to H063 the Company tested a lower zone of an IP anomaly. Notably, the assay results suggest a continuation of the deposit.

The following Table 1 shows numerous high-grade gold samples within the named drill holes, continuing to demonstrate the richness of this porphyry deposit. Remarkably, within H063 is the highest yet assayed gold drill sample of the project with 18.4g/t gold over 1m which is closely followed by a second 13.4 g/t gold sample over 1m. Cobalt strongly shows with 0.233% and 0.198% respectively, and copper assays values 1.87% and 1.95% to these samples.

DDH	From (m)	To (m)	Interval (m)	Ag (ppm)	Au (ppm)	Co (ppm)	Cu (%)	Sc (ppm)
H060	74.7	76	1.3	3.51	1.88	201.0	0.55	32.6
H060	76	77	1	1.39	1.82	1095.0	0.20	16.7
H060	81	82	1	0.34	3.50	220.0	0.04	29.9
H060	204	205	1	0.27	1.93	92.9	0.19	56.7
H060	217	218	1	0.8	1.00	1365.0	0.81	28.1
H060	370	371	1	2.33	1.56	409.0	2.29	17.1
H060	371	372	1	1.7	1.04	620.0	1.71	16.3
H060	382	383	1	1.78	1.63	295.0	2.42	23.1
H061	170	171	1	1.17	1.66	620.0	0.47	15.2
H061	181.8	183	1.2	0.28	2.61	136.5	0.99	18.7
H061	380.2	381.2	1	1.34	1.12	165.5	1.05	26
H062	63	64	1	27.8	4.01	284.0	4.42	16.2
H062	77	78	1	2.12	1.02	195.0	0.45	42
H062	397.95	399.5	1.55	0.37	2.44	57.1	0.07	22.3
H062	489	492	3	2.42	1.96	288.0	0.55	19.9
H063	279	280.8	1.8	0.45	1.06	88.5	0.12	21.3
H063	300	302	2	0.09	1.35	138.5	0.03	25.7
H063	302	303	1	1.37	18.4	2330.0	1.87	4.8
H063	304.1	306.15	1.95	0.19	2.11	260.0	0.10	14.8
H063	319.5	320.5	1	3.49	13.4	1975.0	1.95	5.1
H063	320.5	321.5	1	1.33	2.38	161.5	0.60	18.8
H063	327	330	3	1.49	2.12	108.5	0.60	28

Table 1. Gold rich samples of drill holes H060 to H063

Mr. Shirvani, President & CEO of Doubleview, commented: “The Hat project continues to deliver high values of its principal metals, copper and gold, with strong support from critical metals cobalt and scandium. It is compelling to observe how the deposit evolves when new drill data gets analyzed and how the different zones that we are discovering, add to the evolution of the Hat polymetallic porphyry deposit. I am very much looking forward to receiving additional assay results currently undergoing analytical analysis, followed by the receipt of the resource estimate and to joining our team in planning the 2024 season that will include further investigation of the newly expanded Gold Rich Zone.”

DDH	From (m)	To (m)	Length (m)	Ag (g/t)	Au (g/t)	Co (g/t)	Cu (%)	Sc (g/t)	CuEq (%) incl Sc₂O₃
H060	24.0	697.0	673.0	0.20	0.09	7.5	0.09	28.2	0.84
Incl.	74.7	82.0	7.3	1.67	1.36	42.5	0.26	23.9	1.83
And	199.0	388.0	189.0	0.25	0.12	9.2	0.11	29.0	0.91
Incl.	323.6	388.0	64.5	0.42	0.17	12.0	0.24	30.5	1.09
And	368.0	436.8	68.8	0.38	0.17	12.2	0.23	29.0	1.05
Incl.	369.0	388.0	19.0	0.80	0.44	22.9	0.62	30.8	1.64
Incl.	369.0	376.0	7.0	1.32	0.76	28.5	1.08	27.2	2.16
H061	9.0	624.0	615.0	0.11	0.05	5.2	0.03	25.3	0.69
And	29.6	149.0	119.4	0.23	0.10	7.1	0.06	31.2	0.89
And	380.2	381.2	1.0	1.34	1.12	16.6	1.05	26.0	2.27
H062	9.0	495.0	486.0	0.21	0.10	5.8	0.05	28.1	0.81
Incl.	56.4	130.0	73.6	0.75	0.19	7.5	0.15	39.0	1.21
Incl.	56.4	103.0	46.6	1.08	0.22	7.6	0.21	39.9	1.31
Incl.	56.4	64.0	7.6	5.32	0.93	13.3	0.93	32.7	2.23
Incl.	63.0	64.0	1.0	27.80	4.01	28.4	4.42	16.2	6.85
And	398.0	402.0	4.1	0.31	1.26	6.0	0.07	25.9	1.48
H063	9.0	414.0	405.0	0.23	0.21	8.0	0.07	25.5	0.84
Incl.	68.6	179.0	110.4	0.45	0.12	12.2	0.11	29.6	0.93
And	277.4	336.0	58.60	0.28	1.00	13.60	0.14	19.5	0.80
Incl.	297.0	306.2	9.2	0.27	3.00	40.2	0.27	20.2	2.74
And	302.0	330.0	28.0	0.48	1.78	22.3	0.25	16.7	1.81
Incl.	302.0	303.0	1.0	1.37	18.40	233.0	1.87	4.8	14.07
Incl.	319.5	330.0	10.5	0.97	2.25	26.6	0.44	22.9	2.42
Incl.	319.5	320.5	1.0	3.49	13.40	197.5	1.95	5.1	10.92

Notes:
– Metal equivalents should not be relied upon for future evaluations.
– Drill hole intercepts included in this news release are core lengths that may or may not be true widths of mineralization. It is not possible to determine true widths.
**Copper Equivalent (CuEq%) is estimated using the following metal values and equations:
– *CuEq(%) =(Ag(g/t) x Price_Ag x Rec_Ag/31.1035 + Au(g/t) x Price_Au x Rec_Au/31.1035 + Co(%) x Price_Co x Rec_Co x 22.0462 + Cu(%)x Price_Cu x Rec_Cu x 22.0462 + Sc(g/t) x Price_Sc x Rec_Sc x Sc_con) / (Price_Cu x 22.0462)
– Price_Ag = $22.20/troy oz, Price_Au=$1,812.14/ troy oz, Price_Co = $23.30/lb, Price_Cu = $3.84/lb, Price_Sc = $1.5/g
– Rec_Ag = 68% , Rec_Au = 89% , Rec_Co = 78%, Rec_Cu = 84% , Rec_Sc = 88%

Table 2. shows assay intervals of drill holes H060 to H063

Figures 1 and 2 illustrate vertical projections of drill holes H060 to H063 of the Gold Rich Zone.

Figure 1. Section along the drill holes

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8003/194369_71dd183c840518ed_001full.jpg

Drill Hole ID	UTM – East	UTM – North	Elevation	Max-Depth	Azimuth	Dip	Area
H060	347,866	6,453,619	938.8	613.5	350	-70	Lisle South
H061	347,866	6,453,619	938.8	642.0	90	-65	Lisle South
H062	347,866	6,453,619	938.8	495.0	180	-70	Lisle South
H063	347,866	6,453,619	938.8	420.0	180	-55	Lisle South

Table 3. Drill Hole Data

Figure 2. Drill Plan

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8003/194369_71dd183c840518ed_002full.jpg

Scandium:

Scandium is one of the rarest critical metals group deemed “critical metals” by the Canadian and American federal governments.

Quality Assurance and Quality Control:

Core samples were prepared at the North Vancouver facility of ALS Canada Ltd. using their PREP-31, PGM-ICP24, ME-MS61, and ME-ICP06 packages. Each core sample is dried, then crushed to 70% passing a 2mm screen. All material is processed in an automatic Riffle splitter to yield a 250g homogenized, representative sample. This sub-sample is then pulverized to 85% passing a 75-micron screen. All samples are analyzed for Au, Pt, Pd by 50g fire-assay fusion/ICP-ES finish, using PGM-ICP24 package. A separate 0.25g pulp split is analyzed by Four Acid digestion/ICP-MS finish, reporting 48 elements. Over limit elements are analyzed by Ore Grade Four Acid digestion/ICP-ES finish using ME-OG62 assay package. All of Doubleview’s core samples are analyzed or assayed at independent ISO 17025 and ISO 9001- certified laboratories.

Doubleview maintains a website at www.doubleview.ca.

Qualified Persons:

Erik Ostensoe, P. Geo., a consulting geologist, and Doubleview’s Qualified Person with respect to the Hat Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed, and approved the technical contents of this news release. He is not independent of Doubleview as he is a shareholder in the company.

Cautionary Note: Although a mineral resource estimation is currently being prepared by an independent engineering firm, no mineral resources have been estimated at the Hat Property and there is no assurance that further work will result in the Lisle Zone, or other zones if present, being classified as mineral resources.

About Doubleview Gold Corp

Doubleview Gold Corp., a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada, and is publicly traded on the TSX-Venture Exchange (TSXV: DBG) (OTCQB: DBLVF) (FSE: A1W038) (FSE: 1D4). Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. The Company’s portfolio of strategic properties provides diversification and mitigates investment risks.

On behalf of the Board of Directors,

Farshad Shirvani, President & Chief Executive Officer

For further information please contact:

Doubleview Gold Corp
Vancouver, BC Farshad Shirvani
President & CEO

T: (604) 678-9587
E: corporate@doubleview.ca

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.

Certain of the statements made and information contained herein may constitute “forward-looking information.” In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194369

Dubai Taxi (DTC) Launches Regular Taxi Service for People of Determination

The Dubai Taxi Co PJSC (“DTC”), a leading provider of comprehensive mobility solutions in Dubai, has announced the launch of a new service for people of determination (POD), enabling them to book regular taxis through “DTC App”.

Importantly, it includes the option for users to avail of the same 50% discount that is offered with the dedicated service for people of determination. The system is designed to be accessible for holders of the Sanad card for people of determination in Dubai, enabling them to use this service efficiently and electronically.

The new initiative comes in line with DTC’s commitment to improving services for people of determination, adhering to the highest international standards in public and transport services.

It also reflects the company’s social responsibility and its efforts to introduce smart initiatives that support the government’s goals of integrating and empowering people of determination in the community, thereby enhancing their happiness and quality of life.

Innovative proactive services

Abdullah Ibrahim Al Meer, Acting Chief Business Transformation Officer at DTC, emphasized that the launch of the new service reflects the company’s commitment to continually enhance its services and offer an innovative model of smart and proactive services. “We look forward to enhancing customer satisfaction, particularly among people of determination,” Al Meer added.

“DTC has always strived to align its services with the needs of people of determination, in compliance with the highest global standards, and we will continue to do so to provide them with top-tier transportation services and contribute significantly to Dubai’s reputation as an inclusive city for people of determination,” he further said.

Al Meer noted that there has been a growing demand for DTC’s vehicles designed for people of determination. Consequently, the launch of this digital service is part of the company’s efforts to expand and streamline the provision of transportation services for this group by leveraging modern and efficient methods. This service enables people of determination, including residents, visitors, and tourists, to access regular taxi services conveniently and swiftly, further enhancing their mobility.

Speed and flexibility

Dubai Taxi Company currently offers the “People of Determination Taxi” service through its smart application, featuring modern vehicles equipped with state-of-the-art amenities to ensure a comfortable and convenient transportation experience. The service guarantees safe and reliable transportation options for people of determination, available round the clock.

Dubai Taxi Co App

The “DTC App” is one of the useful public transport apps in Dubai facilitating residents to book exclusive, safe and comfortable taxis and limousines. The app allows users with multiple taxi and payment options, for instance, direct payment or through the credit card. The Dubai Taxi Co App can be downloaded on Android or iOS.

Contact:
The Dubai Taxi Co PJSC (DTC)
Email: media@dtc.gov.ae
URL: https://dubaitaxi.ae/en

Acrometa Signs Strategic Cooperation Framework Agreement to Develop Co-Working Lab Space in China

ACROMETA Group Limited (“ACROMETA”, or the “Company” and together with its subsidiaries, the “Group”), an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, today announced that its 70% owned subsidiary Life Science Incubator Holdings Pte Ltd (“LSI”) signed a strategic cooperation framework agreement (“Agreement”) with its partner Fenglin Healthcare Industry Development (Group) Co. Ltd. (“Fenglin Group”).

(3rd from Right) Fenglin Group Deputy General Manager Mr Pan Taishen and (2nd from Right) AcroMeta Executive Chairman Mr Levin Lee Keng Weng at the signing ceremony

The Agreement follows an earlier MOU signed in November 2023 to further deepen their collaboration for the co-working laboratory space business in the People’s Republic of China.

The signing ceremony, which was held at the German Center Singapore, was part of a corporate access event which featured a presentation on the co-working laboratory space business, followed by a tour of the facilities for a first-hand look at the laboratory that is fully fitted with state-of-the-art equipment.

Representatives from AcroMeta, LSI and Fenglin Group present at the event held at the German Centre Singapore

China-incorporated Fenglin Group, the administrative arm of the Shanghai Xuhui government in charge of Life Sciences, aims to establish an integrated ecosystem of local and international stakeholders in Shanghai’s Xuhui District to accelerate biopharmaceutical innovation and development.

Fenglin Group will promote the co-working laboratory space with a focus on overseas biomedical science startups and SMEs planning to develop their business in China. On its part, LSI will use its existing business networks to recommend to Fenglin Group, Singapore and other overseas biomedical sciences companies that intend to have a business foothold in China and need co-working laboratory space.

Mr Levin Lee Keng Weng, ACROMETA’s Executive Chairman, said,

“We extend a warm welcome to all our honoured guests, including the top Management of Fenglin Group. LSI and Fenglin will work closely together to fulfil the goals of our strategic cooperation in the co-working laboratory business.

China’s life sciences industry is an important part of China’s ‘Made in China 2025’ strategy and its rapid growth has seen the birth of thousands of start- ups and SMEs in biotech, agritech, pharmaceuticals, and medical devices doing research and development to bring innovative products into the market. Our co-working laboratory space business will enable them to conduct their R&D without incurring high CAPEX to build the facilities.”

About ACROMETA Group Limited (SGX Stock Code:43F)

ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments.

The Group has, over the years, acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities, and cleanrooms.

ACROMETA’s business is divided into three main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical, and process works within controlled environments; (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure. (iii) Co-Working Laboratory business; currently operates 6,500 square feet of co-working laboratory space at The German Centre in Singapore, serving SMEs and startups.

The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA’s customers include hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies.

The Company has been listed on the Catalist Board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.

Media and Analysts Contact:
ACROMETA Group Limited
Ms. Cheah Lai Min
Chief Financial Officer
Tel: +65 6415 0574
Email: laimin.cheah@acrometa.com

Waterbrooks Consultants Pte Ltd
Mr. Wayne Koo
Tel: +65 6958 8008 / +65 9338 8166
Email: wayne.koo@waterbrooks.com.sg
Email: query@waterbrooks.com.sg

This media release has been reviewed by the Company’s Sponsor, Evolve Capital Advisory Private Limited (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange”), and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com.

Samurai 2K Aerosol Selected for Forbes Asia Under a Billion List

Samurai 2K Aerosol Limited (the “Company” and together with its subsidiaries, the “Group”) (SGX: Y8E), a manufacturer of automotive aerosol paints and aerosol solution specialist, today announced that it has been selected for inclusion in the list of best 200 companies in Forbes Asia’s annual “Best Under a Billion Dollars Award” for 2021. The event for winners to receive the award was only just recently held in Manila, The Philippines due to travel restrictions imposed during the Covid-19 pandemic. In its annual survey, companies are scored based on several financial performance metrics and chosen from a list of 20,000 firms. This list recognizes the top 200 publicly listed companies in the Asia Pacific region with sales between US$10 million to US$1 billion.

(L-R) Henry T. Sy Jr., Vice Chairperson of SM Investments Corporation, Ian Ong, Executive Director and Chief Executive Officer of Samurai 2K Aerosol Limited, and Christopher Forbes, Vice Chairman of Forbes Media.

The list, which is unranked, measures the long-term performance of companies based on full- year annual results, and firms are scored based on their track record in debt, sales, earnings per share growth and average returns on equity. Selection criteria included quantitative as well as qualitative factors. Companies with serious governance issues, questionable accounting, environmental concerns, management issues or legal troubles were excluded.

In its financial results for the six months ended 30 September 2023, the Group recorded all-round improvement in its financials as compared with the same period last year.

(See: Financial Statements and Related Announcement::Half Yearly Results (sgx.com))

This was despite a challenging business environment dominated by international trade tensions, global geopolitics, and general slowdown in global economies.

One factor for the Company’s inclusion in the list is its low leverage and prudent financial discipline. The high-interest rate environment has resulted in increased costs for operations and finance, but the Company’s financial position remains robust even as it sticks to its strategy of creating shareholder value through R&D and technology innovations. The Company’s Total Debt /Equity Ratio for the past 3 years has remained below 1 and is accompanied by healthy Current Ratio and Cash Ratio.

Table 1 Samurai 2K Aerosol Liquidity and Leverage*

*Source: SI Station data

	FY2023	FY2022	FY2021
Total Debt/Equity	0.44	0.23	0.23

Current Ratio	2.35	2.39	2.58

Cash Ratio	1.11	1.54	1.84

Meanwhile, its groundbreaking 2K Technology for aerosol paints is approaching a take-off point as marketing footprints have been established in the large markets of USA, UK and India. Additionally, it has a slew of products and services based on proprietary technology that are coming into the market soon. Tintatek, a unique color-matching and color-mixing technology will be launched in First Quarter of Financial Year 2025.

The Company’s aerosol paints enable professional standard spray painting results to be achieved with great convenience. This has resulted in the sprouting of a new service: onsite professional spray painting services where users are optimally matched from a list of certified professional Samurai 2K aerosol painters on an online platform. Professional spray painting courses with certification recognized by the Malaysian government are also being conducted presenting a new revenue stream.

Ian Ong, Founder, Executive Director & Chief Executive Officer of Samurai 2K Aerosol Limited

Ian Ong Yoke En, Founder, Executive Director & Chief Executive Officer sums up the investment merits of Samurai best when he says, “We are a creator of long-term shareholder value and our strong commitment to R & D brings forth a continuous stream of innovative products. At the same time, our complete digital transformation enables us to achieve scalability and economies of scale, and to move with great speed and efficiency to capture new business opportunities in the e-commerce world where geographical borders do not exist”

Mr Ong added, “But we always exercise financial discipline so that we can ride the ups and downs of the market while remaining focused on our spirit of Innovation.”

Issued by Samurai 2K Aerosol Limited

This press release has been reviewed by UOB Kay Hian Private Limited (the “Sponsor”).

This press release has not been examined or approved by the Singapore Exchange Securities Trading Limited (“SGX-ST”) and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President, who can be contacted at 8 Anthony Road #01-01, Singapore 229957, telephone (65) 6590 6881

Reference:

https://links.sgx.com/FileOpen/Samurai%20Annoucement%20-%20ForbesAsia.ashx?App=Announcement&FileID=780254

About Samurai 2K Aerosol Limited (SGX: Y8E)

Samurai 2K Aerosol Ltd (“SAMURAI®”) has been listed on the Catalist Board of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) since January 2017. SAMURAI® is a fully integrated aerosol specialist that focuses on the repainting business as well as aftermarket for the automotive refinishing and refurbishing industry.

SAMURAI® aims to be the world’s most respected innovative aerosol system provider and offer the most innovative aerosol systems with the best user enjoyment and to create more job opportunities for all the sprayers in the world.

SAMURAI® regional office is situated in Singapore while research, product development, branding and manufacturing are conducted in Malaysia. Samurai’s products are distributed worldwide to throughout Malaysia, Indonesia, Thailand, Philippines, Vietnam, Cambodia, UK, USA, Singapore, and India. Its range of products includes Truck Bed Liner, Epoxy Marine Surface Primer, Marine Coating, Boat Deck Granular Textured Epoxy Primer, Automobile Body Epoxy Primer etc. For more information, please visit our official website at www.samurai2kaerosol.com.

Media and Analysts Contact:
Samurai 2K Aerosol Limited
Ms. Saveena Prabakaran
Legal Cum Relation Executive
Email: saveena@samuraipaint.jp

Waterbrooks Consultants Pte Ltd
Mr. Wayne Koo
Tel: +65 9338 8166
Email: wayne.koo@waterbrooks.com.sg
Email: query@waterbrooks.com.sg

Igloo closes US$36M Pre-Series C fundraise with 50% valuation increase

Regional insurtech Igloo today announced that it has closed a US$36 million Pre-Series C funding round. Global investment firm Eurazeo, through its insurtech fund backed by the insurer BNP Paribas Cardif, led the investment. Openspace and La Maison, who previously participated in Igloo’s Series B and Series B+ fundraises, also joined in, reaffirming their confidence in the company’s strong business fundamentals. Eurazeo invested through its insurtech fund focused on innovative technologies and business ideas disrupting the insurance industry, whilst Openspace’s investment in this round comes via its mid-stage fund, OSV+, which is focused on the Series C and D rounds of transformative technology companies in Southeast Asia.

Matthieu Baret, Managing Partner – Venture at Eurazeo shared: “We are thrilled to invest in Igloo with the insurer BNP Paribas Cardif. With our investments in China, Indonesia, India, and Singapore, we’re extending our footprint with the ambition to become a leading player in Asia.”

“We have been following Igloo for some time now and have been impressed with their evolution into a diversified insurance platform across channels and products. The insurance market in Southeast Asia is still very underpenetrated and we believe Igloo is in a strong position to help solve this by making insurance more easily accessible and understandable for consumers,” shared Albert Shyy, Managing Director, Eurazeo.

This latest round comes just 10 months after Igloo’s previous Series B+ fundraise led by BlueOrchard-managed InsuResilience Investment Fund II. In total, the company has raised US$100 million. Notably, Igloo’s Pre-Series C round closed at an increased valuation of 50 percent from its Series B+ round in 2022, as the company moves closer to profitability in 2024. Igloo is on track to double its 2022 Gross Written Premiums (GWP) at a low burn rate; its robust engineering core and data focus, the company’s path to profitability in 2024 is set.

“We’re always thrilled when the opportunity arises to keep investing in a company at the mid-stage that we’ve previously backed – and Igloo’s recent growth and steps towards profitability have given us further confidence in the business’s ability to capture and expand the insurance market in Southeast Asia,” said Jessica Huang Pouleur, Partner, Openspace Ventures. “Our team has been actively involved in working with Igloo to this point, and those existing relationships will enable us to seamlessly continue adding operational and commercial value as the business integrates, acquires, and strengthens capabilities.”

Asia’s insurance market is brimming with untapped potential, especially in emerging economies like Indonesia, Vietnam, and the Philippines. Despite the rising adoption of insurance, many remain underinsured. This vast, underserved demographic has caught the attention of investors, with companies like Igloo standing out due to their innovative approach to the evolving landscape in these markets – addressing pain points across the insurance value chain for insurers, sales intermediaries, retailers and consumers.

Igloo’s recent scores include two innovative offerings. In 2022, it launched Ignite by Igloo, a digital platform that enhances the productivity of sales intermediaries in Vietnam and Indonesia. Ignite by Igloo works with 22,000 sales intermediaries and agent partners and aims to close 2023 with 50,000 agents as it expands into other markets. In line with Igloo’s purpose of improving financial inclusion for underserved segments, over 60 per cent of Ignite by Igloo’s intermediary partners are female.

Another innovation for Igloo is its Weather Index Insurance, a pioneering blockchain-based parametric insurance for farmers. The product has drawn interest from partners in Vietnam and across Southeast Asia for its potential to greatly benefit the agricultural sector. Despite its novelty in a highly traditional sector, Weather Index Insurance has already been adopted by thousands of farmers since launching last November and covers 20,000 hectares of coffee and padi farms.

Igloo has facilitated over 500 million policies and aims to double its Gross Written Premium (GWP) from 2022. As of today, it has also actively established over 75 partnerships across six countries, expanding its product offerings to cover consumer finance, e-commerce, and logistics. In August 2023, Igloo was named ‘Insurtech of the Year’ by the Asia Fintech Awards.

The new funding will go towards both horizontal and vertical M&A opportunities – having added intermediary licenses across SEA this year, in addition to its license in Indonesia. It will also increase its workforce by 20% across engineering, commercial, strategy and insurance-focused verticals. On the product and value chain enhancement aspect, it looks to double down on motor, health, climate-related products, underwriting and claims digitization and AI and blockchain technologies.

Raunak Mehta, Co-Founder and CEO at Igloo, shared, “The support from our investors is a testament to Igloo’s steady growth and resilience amidst macro headwinds and a validation of our strategy. We are the only insurtech in Southeast Asia with a robust profit and loss (P&L) statement, a diverse multi-product portfolio, and an extensive distribution line.”

About Eurazeo

Eurazeo is a leading global investment group, with a diversified portfolio of €35.2 billion in Assets Under Management, including €25 billion from third parties, invested in around 600 companies. With its considerable private equity, private debt, real estate asset and infrastructure expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its 400+ professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. Eurazeo has offices in Paris, New York, London, Frankfurt, Berlin, Milan, Madrid, Luxembourg, Shanghai, Seoul, Singapore and Sao Paulo. Eurazeo is listed on Euronext Paris.

About Openspace

Openspace is a leading Southeast Asian venture capital firm, finding and backing companies creating a transformative impact where tech meets life. It has 6 funds with $800M in committed capital and has 39 dedicated employees, including full-time specialists within the Portfolio Success team. It is co-headquartered in Singapore and Jakarta, with active offices in Bangkok, Manila and Ho Chi Minh City. Its portfolio of 40+ companies includes GoTo, Pick Up Coffee, Halodoc, Kredivo Holdings. www.openspace.vc

About Igloo

Igloo is a regional full-stack insurtech firm headquartered in Singapore. It has offices in Singapore, Indonesia, Thailand, The Philippines, Vietnam and Malaysia and tech centres in China and India. With a mission of making insurance accessible for all, the firm leverages big data, real-time risk assessment, and end-to-end automated claims management to create B2B2C insurance solutions for platform companies and insurance companies. Igloo’s insurance solutions enable companies to eliminate their exposure to operational risk, create new revenue streams, and optimise and enhance existing products and services. It has partnered with over 75 well-known brand names across the markets in various verticals, including insurance, telecommunications, e-commerce, hospitality, health tech and financial services. Recognised by the industry for its innovations and expertise in its space, Igloo was named ‘Insurtech of the Year’ in the 2023 Asia Fintech Awards. For more information, please visit https://www.iglooinsure.com/.

For Media Enquiries
PRecious Communications for Igloo,
igloo@preciouscomms.com

14th World Islamic Economic Forum in Abu Dhabi to Discuss Key Components of Global Economic Growth

The 14th World Islamic Economic Forum (WIEF) is set to explore a range of critical global economic themes centered around ‘Global Economic Agenda: Shaping a Sustainable Future. Set to take place from 6-8 February 2024 at the Abu Dhabi National Exhibition Centre (ADNEC), the 14th WIEF will dive deep into the dynamic roles of technology and the shifting economic landscape, with a particular focus on East Asia’s growing influence.

The Forum will also explore the convergence of technology and sustainable practices, mapping new routes for economic development in a world undergoing rapid change. It will also offer insights on the rising economic significance of the Middle East on a global scale.

Tan Sri Dr. Syed Hamid Albar, Chairman of the WIEF Foundation, underscores the significance of the forum, remarking, “It’s an opportunity to be part of a global conversation that shapes the future of economies worldwide, transcending borders and sectors.” He further accentuates the Forum’s role as a key platform for deliberating components that drive economic growth, offering a broad range of plenary sessions, in-depth panel discussions, and networking opportunities.

Additionally, a series of in-depth panel discussions and networking events is also organised, addressing critical themes such as the integration of youth in the AI-driven labour market, empowering women in technology, the confluence of Islamic finance and ESG investing, and sustainable solutions in food security.

The Forum will also feature MOCAfest, a marketplace for creative arts that highlights the crucial role of creative industries in economic and social development. This festival offers a dynamic space for artists from diverse backgrounds to unite, displaying their unique artistic talents and facilitating a rich cultural exchange beyond traditional boundaries.

Registration for the 14th WIEF is now open and those who register by or before 15 December will enjoy a 50% discount. For more details on how to participate or exhibit, visit our website at www.14thwief.org, or email media@wief.org.

About ADDED:

The Abu Dhabi Department of Economic Development (ADDED), the catalyst for economic growth and diversification, regulates the business sector in the emirate of Abu Dhabi and leads economic initiatives to achieve a knowledge-based, diversified, and sustainable economy. ADDED adopts best policies and practices based on the latest research and statistics, devotes its efforts to elevate the development across various sectors, and prepares strategic programmes and plans by adopting the best economic and administrative practices, applying the latest technology, and drawing on global expertise.

ADDED strives to improve the investment ecosystem in the emirate by enhancing prospects for cooperation with strategic partners and ensure principles of innovation, transparency, and knowledge-sharing are followed to strengthening the business ecosystem to enhance Abu Dhabi as preferred destination for talent, businesses, and investments.

For further info, please visit: www.added.gov.ae

For media enquiries, mediateam@ded.abudhabi.ae

About World Islamic Economic Forum Foundation (WIEF)

Established in 2006, WIEF Foundation aims to enhance and elevate the economic situation of global communities by encouraging trade and business opportunities, as well as organising various capacity building programmes mainly the annual forum, WIEF.

WIEF and other initiatives by the Foundation bring together government leaders, captains of industry, entrepreneurs, corporate executives and academicians from various fields to discuss current issues that affect and shape the global economy. Programmes within the annual WIEF consists of panel discussions and masterclasses, among others.

14th WIEF, themed Global Economic Agenda: Shaping a Sustainable Future is happening on 6 to 8 February 2024 at Abu Dhabi National Exhibition Centre (ADNEC) in the UAE.

For media enquiries, email media@wief.org or faizah@wief.org or shazana@wief.org.

KJTS Group Berhad Inks Underwriting Agreement with Hong Leong Investment Bank

KJTS Group Berhad (“KJTS” or the “Company”) and its subsidiaries (collectively referred to as the “KJTS Group”), a building support services provider in Malaysia, Thailand and Singapore, are pleased to announce the signing of the underwriting agreement with Hong Leong Investment Bank Berhad (“HLIB”) for its upcoming initial public offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).

Executive Director of KJTS Group, Mr. Sheldon Wee; Group Managing Director and Chief Executive Officer of Hong Leong Investment Bank Berhad, Ms. Lee Jim Leng; Managing Director of KJTS Group, Mr. Lee Kok Choon [L-R]

The IPO exercise, as detailed in the Company’s draft prospectus available on the Bursa Malaysia Berhad’s website, involves the issuance of approximately 218.03 million new ordinary shares. This represents 31.69% of KJTS’s enlarged number of issued shares, which is split between the retail offering of 49.40 million new ordinary shares which represents 7.18% of the enlarged issued shares and institutional offering of 168.63 million new ordinary shares to institutional and selected investors which represents 24.51% of the enlarged issued shares.

Hong Leong Investment Bank Berhad, as the Principal Adviser, Sponsor, Sole Underwriter, and Sole Bookrunner will underwrite the entire 49.40 million new ordinary shares under the retail offering.

Managing Director of KJTS, Mr. Lee Kok Choon and Executive Director of KJTS, Mr. Sheldon Wee, commented: “This IPO marks a pivotal moment in KJTS’s history, paving the way for our next stage of strategic growth. Our journey with Hong Leong Investment Bank Berhad in this endeavour is instrumental in realising our expansion goals and strengthening our market position. The funds raised from the IPO will be primarily deployed to expand our cooling energy segment in Malaysia. Our cooling energy services enables us to take advantage of opportunities from growing awareness of Environmental, Social and Governance (ESG) principles as these cooling energy systems help our customers reduce carbon dioxide emissions through the reduction of electricity consumption. We also plan to use these funds to expand our offices in Malaysia, Thailand, and Singapore. This financial boost is key to our commitment to sustaining and expanding our services across these countries.”

Group Managing Director/Chief Executive Officer of HLIB, Ms. Lee Jim Leng said: “We are pleased to have played a key role in KJTS Group Berhad’s IPO journey. We hope that KJTS’s market presence and future growth plans will present a compelling opportunity for investors. We are confident that this listing will be a significant step forward for the company.

The listing of KJTS on Bursa Securities is set to provide a robust platform for the company to embark on its next phase of growth and aligns its long-term vision to solidify its position as a leader in the building support services sector.”

Doubleview Gold Corp Provides End of 2023 Exploration Update at the Hat Polymetallic Project

Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) (the “Company or “Doubleview”) is pleased to announce the successful completion of its 2023 exploration and drilling program at the Hat Polymetallic Project situated in the Golden Triangle of British Columbia.

Key achievements of the 2023 exploration program:

Scope and Targets: The comprehensive program successfully covered all intended work programs and explored designated targets. Notably, this marked the largest work program to date at the Hat project.

Main Objective: The primary focus of the 10,500-meter diamond drilling exploration program was to examine the dimensions and characteristics of Copper, Gold, Scandium, and Cobalt mineralization within the Main Lisle Zone of the Hat deposit and its environs. The deposit remains open in all directions.

Sample Analysis: In the current season, 5,220 samples, weighing 25.5 tonnes, were shipped to ALS laboratories, a fully accredited and globally recognized facility in North Vancouver, British Columbia, Canada.

Connecting Deposit Envelopes: A key objective was to enhance connectivity between the deposit envelopes of the Main Lisle deposit and surrounding volumes, creating a cohesive united mass.

NI 43-101 Maiden Resource Estimate: The final achieved and explored volume will serve as the domain envelope for the NI 43-101 maiden resource estimate, anticipated to be disclosed in Q1, 2024.

Budgeting and Cost Controls: Exploration expenses in NW, British Columbia have increased rapidly in recent years. Maintaining tight controls on costs was a key focus of management for the 2023 exploration season. The company drilled approximately 10.500 meters for an estimated %40 of the industry standard costs for a similar drilling campaign.

Farshad Shirvani, President, and CEO stated, “It has been a tremendous year for Doubleview Gold Corp. Accomplishing many goals for the Hat Deposit, our projections reveal significant potential for lateral and depth extensions of this copper-gold deposit, enriched with cobalt and scandium. Importantly, the drilling and exploration program adhered to our projected budget.”

Assay Results:

Assays are being received on a continuous basis and will be published as they are received and verified.

Doubleview maintains a website at www.doubleview.ca.

About Doubleview Gold Corp

Doubleview Gold Corp., a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada, and is publicly traded on the TSX-Venture Exchange (TSXV: DBG) (OTCQB: DBLVF) (GER: A1W038) (FSE: 1D4). Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. The Company’s portfolio of strategic properties provides diversification and mitigates investment risks.

On behalf of the Board of Directors,

Farshad Shirvani, President & Chief Executive Officer

For further information please contact:

Doubleview Gold Corp
Vancouver, BC Farshad Shirvani
President & CEO

T: (604) 678-9587
E: corporate@doubleview.ca

IMA Launches Certification Focused on Foundational Financial and Managerial Accounting Knowledge

IMA® (Institute of Management Accountants), the worldwide association of accountants and financial professionals in business, today announced the launch of a new foundational certification in the accounting and finance profession. The FMAA™ (Financial and Managerial Accounting Associate) instills the fundamental knowledge and competencies in accounting and finance, allowing professionals early in their careers to showcase their expertise to employers and build a foundation to expand their skills.

“The FMAA provides a flexible and practical path for individuals who want to prove their ability to speak the language of business with current and future employers,” said Mike DePrisco, president and CEO of IMA. “As knowledge of accounting fundamentals becomes more critical for businesses and coupled with the shortage of professionals pursuing accounting and finance careers, the FMAA minimizes traditional barriers to entry and opens opportunities to others from across other professions and industries.”

Emphasizing the FMAA’s foundational role in the region, Josh Heniro, Ph.D., Managing Director at IMA Asia Pacific, said, “The FMAA represents a pivotal starting point in the accounting and finance profession in Asia Pacific, catering not only to those embarking on their careers but also to those in mid-career transitions seeking a foundational understanding. This certification imparts essential skills and concepts, making it a valuable tool for professionals at different points in their careers. Beyond these foundational aspects, the FMAA also establishes a framework for ongoing growth and professional development through continuous education.”

Those who acquire the FMAA will build knowledge in five content domains: general accounting and financial management, financial statement preparation and analysis, planning and budgeting, cost management and performance metrics, and professional ethics. The two-hour exam includes 80 multiple choice questions. The FMAA has no prerequisites to pursue the certification.

“The FMAA is an innovative opportunity for professionals to acquire essential accounting and finance skills for everyday use in the workplace,” said Ella Suponitskiy, CMA (U.S.), CPA, CAE, vice president, certification, at IMA. “With its accessibility to all business professionals, regardless of educational background, the FMAA is the perfect entry point into the accounting and finance profession. The FMAA allows individuals to start their careers with impact as certified professionals.”

Registration for the FMAA will open in January 2024 for the initial testing windows of March 2024 in English and May 2024 in Chinese. Exams will take place globally at Prometric testing centers.

For more information about the FMAA, visit https://www.imanet.org/FMAA-Campaign.

About IMA (Institute of Management Accountants)

IMA is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the U.S. CMA® (Certified Management Accountant), CSCA® (Certified in Strategy and Competitive Analysis), and FMAA™ (Financial and Managerial Accounting Associate) certification programs, continuing education, networking, and advocacy of the highest ethical business practices. Twice named Professional Body of the Year by The Accountant/International Accounting Bulletin, IMA has a global network of about 140,000 members in 150 countries and 350 professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its six global regions: The Americas, China, Europe, Middle East/North Africa, India, and Asia Pacific. For more information about IMA, please visit www.imanet.org.

Media contact:
Sunantha Huang
Tel: +65 6493 3113 / +65 6909 5647
Email: sunantha.huang@imanet.org

Acrometa Posts Record Revenue of S$69.5 Million for FY2023, Continues to Pursue New Opportunities in Co-Working Lab Space Business

ACROMETA Group Limited (“ACROMETA”, or the “Company” and together with its subsidiaries, the “Group”), an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, today announced its financial results for the 12 months ended 30 September 2023 (“FY2023”).

The Group’s revenue for FY2023 saw a 12% increase to S$69.5 million, a historical high for the Group, primarily attributed to the Engineering, Procurement and Construction (“EPC”) segment’s strong performance. Gross profit increased by 19% from S$9.8 million for FY2022 to S$11.7 million for FY2023, while gross profit margins improved from 15.7% for FY2022 to 16.8% in FY2023.

The Group’s continuing operations comprising of its specialist EPC and maintenance segments recorded a profit of S$2.2 million on the back of a 10.8% growth in revenue from S$62.3 million for FY2022 to S$69.0 million for FY2023. However, the operating environment remains challenging amidst increased operational costs in energy, labour, and materials as a result of inflationary pressures in the global economy.

In May 2023, the Group ventured into the co-working laboratory space segment through the acquisition of Life Science Incubator Pte Ltd (“LSI”), which currently manages a 6,500 sqft co-working laboratory space at The German Centre, Singapore. Under the Group’s leadership, LSI has made significant inroads with new partnerships across Singapore, Australia, and China for new co-working laboratory space projects, reflecting the Group’s continued efforts to broaden its revenue stream and capture new regional opportunities.

Mr Levin Lee Keng Weng, ACROMETA’s Executive Chairman, said,

“We will continue our current focus on expanding the laboratory construction and co-working laboratory space businesses, both of which are currently cash flow positive with promising long-term prospects amidst an encouraging flow of business opportunities and projects in the last twelve months.”

The Group’s co-working laboratory space segment contributed positively to AcroMeta’s FY2023 results and will be developed as a new engine of growth for the Group’s business moving forward.

While the Group’s continuing operations delivered a profit of S$2.2 million, the Group reported a net loss attributable to owners of S$7.5 million in FY2023 due to the one-off impairment and provisions. Excluding these, the net profit would be S$2.3 million compared to FY2022 net profit of S$2.9 million.

The one-off impairment and provisions relating to discontinuing operations related to renewable energy business are based on historical expenditure and have minimal impact on the Group’s ongoing cashflow. The Group’s net asset value remains positive at S$2.6 million or 0.93 cents per share as at 30 September 2023 while the Group’s cash and cash equivalents are stable at S$4.4 million as at 30 September 2023 as compared to S$4.1 million as at 30 September 2022. The proposed subscription of 12,500,000 shares in the capital of the Company for S$0.5 million, announced in November 2023, is expected to further strengthen the Group’s financial resources.

While renewable energy business is fundamentally promising, the Covid-19 pandemic’s impact on construction as well as regulatory changes meant that the project would continue to require financial support and affect the Group’s allocation of resources. The Group’s prudent step to place Neo Tiew Power Pte. Ltd. (“NTP”), a loss-making indirect subsidiary, under Creditors’ Voluntary Winding Up will enable optimal allocation of resources as the Group continues to progress forward with its specialist engineering and co-working laboratory space business.

This press release should be read in conjunction with the financial statements released by AcroMeta Group Limited today.