Rare Earth Breaking News - Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) Appoints Suzanne Rich Folsom to the Board of Directors; @defensemetals

Rare Earth Breaking News - Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) Appoints Suzanne Rich Folsom to the Board of Directors; @defensemetals

 

 

VANCOUVER, BC - May 31, 2024 (Investorideas.com Newswire) Defense Metals Corp. ("Defense Metals" or the "Company") (TSX-V:DEFN / OTCQB:DFMTF/ FSE: 35D) is pleased to announce the appointment of Suzanne Rich Folsom to the Board of Directors of the Company.

 

This news is paid advertisement/ news disseminated on behalf of/issued on behalf of Defense Metals Corp.

 

Read this news, featuring DEFN in full at https://www.investorideas.com/news/2024/05311DEFN-Suzanne-Rich.asp

 

Suzanne Rich Folsom is an experienced independent director, C-Suite executive, and influential business leader. Most recently she served as Senior Vice President and General Counsel, at Philip Morris International where she was a key leader in the company's transformation. Previously she was General Counsel, Chief Compliance Officer, and SVP-Government Affairs, at United States Steel Corporation where she also played a pivotal leadership role in that company's transformation as well as helping reinvigorate U.S. Steel's business growth. Throughout her career, Ms. Folsom has been a change agent and catalyst for organizational growth at multiple companies and organizations.

 

Her career includes senior corporate executive roles at ACADEMI, as the EVP, General Counsel, and Chief Compliance Officer, at AIG, as the Deputy GC and Chief Regulatory & Compliance Officer, and at the World Bank where she was the Counselor to the President and Director of the Department of Institutional Integrity. In addition, Ms. Folsom has held distinctive public administration roles including serving as: the Private Secretary to H.M. Queen Noor of Jordan; First Family Liaison to the Presidential Inaugural Committee; Special Assistant to Barbara Bush; Advisor to the US Delegation to the U.N. World Women's Conference in Kenya; Chief of Staff to the Co-Chair of a U.S. national political party; and she practiced law with three global law firms. She is a frequent thought leadership contributor and speaker and has been recognized in the United States and abroad for her many contributions. Ms. Folsom holds a juris doctorate from Georgetown University Law Center and a bachelor's degree from Duke University. Previous board service has included the boards of Advanced Metallurgical Group AMG, VELUX LLC, and Duke University's Sanford School of Public Policy. Ms. Folsom currently serves on the boards of the iconic Encyclopaedia Britannica, today a global digital media learning and knowledge products company, and Ecore International, a revolutionary leader in rubber circularity and a transformational waste company. She is also an Advisor to EqualFuture LLC, an AI-assisted financial wellness and education FinTech start-up.

 

Ms. Folsom's deep expertise in business strategy, governance, enterprise risk management, mergers and acquisitions, regulatory, compliance, cyber, trade, labor, and global public policy has enabled her to consistently deliver positive and measurable results to the corporate bottom line. Ms. Folsom's extensive leadership, corporate governance, public company, and global government affairs experience make her a highly valuable addition to the Company's Board of Directors.

 

The Company also announces the resignation of Andrew Burgess from its Board of Directors. The Board of Directors and management team thank Mr. Burgess for his contributions during his tenure since his appointment in January 2019 and wish him success in his future endeavours.

 

PFS Updates

The Company expects to announce in H2-2024 its preliminary feasibility study ("PFS") to be prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Minerals Projects, for its 100% owned Wicheeda Rare Earth Element ("REE") project located near Prince George, B.C., Canada.

 

All infrastructure geotechnical field data collection and process design in support of the PFS has been completed. Equipment pricing, tailings disposal options and mine design are currently being advanced and the Company expects to announce the results of the PFS in H2-2024, with the NI 43-101 Technical Report to be filed within 45 days of the announcement.

 

About Defense Metals Corp. and its Wicheeda Rare Earth Element Project

Defense Metals Corp. is focused on the development of its 100% owned, 8,301-hectare (~20,534-acre) Wicheeda REE Project that is located on the traditional territory of the McLeod Lake Indian Band in British Columbia, Canada.

 

The Wicheeda REE Project, approximately 80 kilometres (~50 miles) northeast of the city of Prince George, is readily accessible by a paved highway and all-weather gravel roads and is close to infrastructure, including hydro power transmission lines and gas pipelines. The nearby Canadian National Railway and major highways allow easy access to the port facilities at Prince Rupert, the closest major North American port to Asia.

 

Defense Metals is a proud member of Discovery Group. For more information please visit: www.discoverygroup.ca.

 

For further information, please visit www.defensemetals.com or contact:

Alex Heath
Vice President, Corporate Development
Tel: 1 604-354-2491
Email: alex@defensemetals.com

 

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 Statement Regarding "Forward-Looking" Information

This news release contains "forward-looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, the expectations and plans for the Wicheeda REE Project, continued progress toward collaborative opportunities with processing partners and strategic partners, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and expenditures, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration and metallurgical results, risks related to the inherent uncertainty of exploration and development and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR+ (www.sedarplus.ca). While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain or obtain community acceptance (including First Nations), risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, 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 inaccurate geological, metallurgical, engineering and pricing assumptions, decrease in the price of rare earth elements, the impact of viruses and diseases on the Company's ability to operate, restriction on labour and international travel and supply chains, loss of key employees, consultants, officers or directors, increase in costs, delayed results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.

 

Defense Metals Corp. (TSX-V:DEFN /OTCQB:DFMTF) is a featured mining stock on Investorideas.com

 

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Breaking AI Stock News: Alset Capital Inc. (TSXV: $KSUM.V) (OTC: $ALSCF) Provides Corporate and Operational Update; @AlsetAI

Breaking AI Stock News: Alset Capital Inc. (TSXV: $KSUM.V) (OTC: $ALSCF) Provides Corporate and Operational Update; @AlsetAI

 

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

 

VANCOUVER, BC, May 29, 2024 (Investorideas.com Newswire) Alset Capital Inc. (TSXV:KSUM) (OTC: ALSCF) (FSE:1R60, WKN:A3ESVQ) ("Alset" or the "Company") is pleased to provide a corporate and operational update.

 

This news is paid advertisement/ news disseminated on behalf of/issued on behalf of Alset Capital Inc.

 

Read this news, featuring KSUM in full at https://www.investorideas.com/news/2024/technology/05291KSUM-Corporate-and-Operational-Update.asp

 

It has been a busy and exciting year so far for Alset as the Company continues to grow its Artificial Intelligence investment portfolio, focusing on generating long-term value for shareholders. We are pleased to report that this year to date, our portfolio companies have made some significant advancements. Alset seeks to build a vertically integrated portfolio in the AI sector, and aims to be a value-add partner in the businesses it invests in.

 

Corporate Update

Artificial Intelligence Advisory Board

On May 23, 2024, the Company announced the formation of its Artificial Intelligence Advisory Board ("AI Advisory Board"), alongside the appointments of former Google and Panasonic AI Executive Willy Sun and Web 3.0 Pioneer Michael Gord. The AI Advisory Board will assist the Company's board of directors and executive officers to provide strategic guidance and insights on the Company's AI initiatives. Comprising diverse experts, the board will advise on AI strategy, identify emerging trends, ensure compliance with ethical standards, manage risks, evaluate AI performance, and foster innovation.

 

Financing

In March and May of 2024, Alset completed non-brokered private placements for total gross proceeds of approximately $7.6 million.

 

Stock Exchange Listings

On March 27, 2024, the Company announced the listing of its common shares (the "Common Shares") on the Frankfurt Stock Exchange (the "FSE") under the trading symbol "1R60", WKN: A3ESVQ, and ISIN: CA02115L2003.

 

On May 2, 2024, the Company announced that its Common Shares have commenced trading on the OTC Market under the symbol "ALSCF" effective April 26, 2024. Additionally, the Company has received Depository Trust Company (DTC) eligibility in the United States, facilitating easier and broader trading access for US investors.

 

The Common Shares are currently listed on the Toronto Stock Exchange Venture (the "TSXV") in Canada, the OTC in the U.S., and the FSE in Germany.

 

Operational Update

Cedarcross International Technologies Inc. ("Cedarcross")

The Company's investee company, Cedarcross, has made significant strides in its pursuit to become a major AI compute provider.

 

On April 2, 2024, the Company announced a $3.7 million secured loan (the "Loan") to Cedarcross to purchase 10 Nvidia H100 HGX 8GPU servers capable of 700,000 compute hours per annum. The Loan is secured against all present and after acquired property of Cedarcross, including specific asset security against five (5) Nvidia 8GPU HGX H100 Servers ("Nvidia H100 Servers"). The Loan is repayable in full on July 1, 2025, and will bear interest at a rate of 15% per annum.

 

AI Computing Leasing

On April 25, 2024, Cedarcross entered into a two-year AI computing leasing agreement expected to generate approximately $5.5 million in total revenue, with aggregate gross margin of approximately $4.4 million over the contract's duration. Cedarcross will provide approximately 700,000 compute hours annually, totaling 1.4 million AI compute hours over the contract's duration. This agreement underscores Cedarcross' growing influence and capabilities in the realm of AI infrastructure.

 

As highlighted in a recent interview with Sam Altman, CEO of OpenAI, Altman emphasized the critical role of computing power, suggesting that "compute" will be the "currency of the future."1 Cedarcross, aligned with this vision, is strategically positioned to address this escalating demand by providing access to the world's fastest AI servers, leveraging Nvidia's H100 HGX GPUs.

 

Cedarcross has established an AI computing hub, powered by Nvidia H100 Servers. Currently, five (5) Nvidia H100 Servers are fully installed and interconnected using Infiniti brand network components. Each server is linked to eight 400GB optical modules, ensuring optimal efficiency. Cedarcross sold five (5) of its previously purchased Nvidia H100 Servers to Big Energy Investments Inc., DBA Ceti AI ("Ceti AI"), (as described in HPC Computing Server Distribution section). The proceeds from this sale funded a purchase order made through CoinDigger DBA Earthmade Computer Corp. ("Earthmade") for five (5) additional Nvidia H100 Servers from Super Micro Computer, Inc. (NASDAQ: SMCI), solidifying Cedarcross' relationships with both Earthmade and Super Micro Computer, Inc.

 

Cedarcross has begun accruing revenue from its initial five (5) Nvidia H100 Servers and anticipates incremental revenue from its additional five (5) Nvidia H100 Servers to start accruing soon after the delivery and installation of the additional servers sourced from Earthmade and Super Micro Computer, Inc. (NASDAQ: SMCI).

 

HPC Computing Server Distribution

On April 22, 2024, Cedarcross entered into a Distribution Agreement incremental to its previously announced Supply Agreement with Earthmade. The Distribution Agreement enables Cedarcross to distribute Nvidia GPU High-Performance Computing (HPC) servers and receive assistance from Earthmade in obtaining hardware allocation from Super Micro Computer, Inc. (NASDAQ:SMCI).

 

Additionally, Cedarcross entered into an HPC server purchase agreement with Ceti AI for the sale of five (5) Nvidia H100 HGX 8GPU servers, generating approximately C$2.3 million in gross revenue. The aggregate return for Cedarcross is expected to be up to $240K, subject to ordinary course chargebacks and associated expenses.

 

On May 16, 2024, Cedarcross signed an agreement with an arm's length counterparty to distribute 64 Nvidia H100 Servers, generating $26 million in revenue for Cedarcross. The estimated gross margin from this agreement will be approximately $2.3 million.

 

Cedarcross has now secured cumulative revenue year-to-date of approximately $28 million through its HPC server distribution business vertical alone. These agreements underscore the robust demand and strategic market positioning of Cedarcross in the HPC landscape.

 

Vertex AI Ventures Inc. ("Vertex")

On May 21, 2024, Vertex announced a strategic partnership with Nom Nom AI Inc., formalized through a Master Services Agreement. This collaboration focuses on AI data engineering and automation to enhance business intelligence and innovation. Vertex aims to offer advanced data management tools, while Nom Nom specializes in data engineering, security, and automation, providing solutions to streamline operations, reduce expenses, and maintain competitive edges. This partnership will benefit future clients by improving data observability, providing real-time analytics, and optimizing machine performance.

 

Outlook

Cedarcross aims to secure additional HPC Server Distribution contracts, service its computing leasing client, and leverage expected and future cash flows to acquire additional servers to grow its computing leasing business. Cedarcross is also exploring compute-for-equity structured transactions in the event of excess compute capacity with future HPC servers, potentially lending significant upside to Cedarcross.

 

Vertex plans to leverage its partnership with Nom Nom to drive innovation in managed data services and AI, enhancing data quality, security, and infrastructure performance. This collaboration is expected to bring forth numerous benefits for future clients, including enhanced data observability, insights, optimization of machine performance, and real-time analytics, particularly for those utilizing Alset's portfolio companies' AI computing infrastructure.

 

The Company is also actively seeking potential accretive investments, acquisitions, and/or business alliances in other AI-focused sectors, including data centres, power infrastructure, HPC server cooling systems, and energy usage reduction software.

 

1 TradingView

 

All amounts in Canadian Dollars unless otherwise specified.

 

On behalf of Alset Capital Inc.

 

"Morgan Good"

 

Morgan Good

Chief Executive Officer

 

About Alset Capital Inc.

Alset Capital Inc. is an investment issuer that is focused on investment in diversified industries such as technology, healthcare, industrial, special situations, operating businesses through both debt and equity using cash resources or shares in its capital. The Company is led by an experienced, entrepreneurial group of executives having a diverse industry and capital markets background.

 

Alset Capital Inc.'s investment portfolio comprises 49% ownership of Cedarcross International Technologies Inc. and 49% ownership of Vertex AI Ventures Inc.

 

About Cedarcross International Technologies Inc.

Cedarcross Technologies is an Artificial Intelligence cloud computing provider, with a vision of becoming one of Canada's largest AI compute providers. The Company is dedicated to democratizing access to cutting-edge AI computing, offering access to the world's fastest AI servers powered by Nvidia's H100 HGX 8GPU Servers. Focused on leasing compute resources to enterprise clients, Cedarcross Technologies anticipates significant revenue growth.

 

About Vertex AI Ventures Inc.

Vertex is at the forefront of intellectual property (IP) identification and acquisition, as well as providing AI data management services. The company's mission is to discover and acquire innovative AI intellectual property from early-stage ventures, fueling advancements in artificial intelligence. In the realm of data management, Vertex aims to excel in delivering premier services that harness the power of AI to streamline operations, minimize costs, and secure a competitive edge in the increasingly data-driven world.

 

The comprehensive suite of services offered by Vertex ensures superior data quality and security, offering advanced observability insights, machine performance optimization, and real-time analytics tailored to AI computing infrastructures. Specializing in data retention and disposition solutions, Vertex addresses critical issues of data security and compliance, setting the standard for safeguarding the integrity and privacy of digital information in today's complex digital landscape.

 

For further information about Alset Capital Inc., please contact:

Morgan Good, CEO and Director

T: 604.715.4751

E: morgan@alsetai.com

 

Forward-Looking Statement Cautions

Certain statements in this press release may contain forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, the perceived benefits of the Master Services Agreement amongst Vertex and Nom Nom, the demand and growth of the AI industry, the consummation of the transactions contemplated by the Master Services Agreement, Cedarcross's repayment of the Loan and accrued interest thereon, possible investments by the Company in additional investee companies, the consummation of the transactions contemplated by the Distribution Agreement, the consummation of the transactions contemplated by the agreements with Earthmade and Super Micro Computer, Inc. and the perceived revenues to be derived from the transactions disclosed herein.. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors, which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Forward-looking statements speak only as of the date those statements are made. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions, or changes in other factors affecting the forward-looking statements. If the Company updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

 

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.

 

SOURCE: Alset Capital Inc.

 

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. Disclosure: Alset Capital Inc. is a paid featured AI stock on Investorideas.com effective April 20, 2024, More info https://www.investorideas.com/About/News/Clientspecifics.asp

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Exploring Mining Podcast –Doing it Right with Cleaner Nickel; Interview with Alaska Energy Metals (TSX-V: $AEMC.V) (OTCQB: $AKEMF) @AKEnergyMetals

 

Exploring Mining Podcast –Doing it Right with Cleaner Nickel; Interview with Alaska Energy Metals (TSX-V: $AEMC.V) (OTCQB: $AKEMF) @AKEnergyMetals

 

May 29, 2024 Investorideas.com, a global investor news source covering mining and metals stocks releases today’s edition of Exploring Mining Podcast, featuring an exclusive follow-up  video interview with host Cali Van Zant talking to Gregory Beischer, President and CEO of Alaska Energy Metals Corp (TSX-V:AEMC) (OTCQB: AKEMF).

 

Paid dissemination on behalf of Alaska Energy Metals Corp.

 

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https://www.investorideas.com/Audio/Podcasts/2024/052824-Mining.mp3

 

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https://youtu.be/yC85e4L5jxw

 

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Host Cali Van Zant starts the conversation asking about Alaska Energy Metals mineral resource estimates and what that means going forward for the Nikolai Project.

Gregory Beischer, President and CEO talks about the nickel market, its current price and the need to have ESG standards from where nickel is sourced.

 

Greg also discusses updates for the summer and recent news.

 

The conversation shifts into talk about capital markets and why Alaska Energy Metals is an opportunity for contrarian investing.

 

Talking about grade and findings from the updated MRE, Greg shared, “Within the Eureka deposit, it turns out it’s this great huge slab of uniformly mineralized rock that goes for kilometers. We have drilled 4.5 kms of it so far but it can be traced for over 12kms from historic drill holes, geophysical surveys, and surface sampling. And it’s thick; 300 meters of true width. Separately on the Canwell block of claims we have some really exceptional prospects at surface. Still just prospects at this point, we don’t have a deposit yet, but we have done all the geophysical surveys necessary below these surface showings of high grade nickel sulphide. Really compelling drill targets, the geophysics tells us there are metals in the ground of substantial proportion.”

 

When speaking about Nickel from Indonesia flooding the markets and the counterproductive methods of using that nickel for clean energy, as well as ESG standards, Greg remarked, “We have to do this right. I don’t personally understand why ESG policies of major car or battery manufacturers would allow such metal to be used in their manufacturing because we should be using clean metals that come from free trade countries where we have the highest possible environmental standards, and certainly America and Alaska have the highest standards. We really do it right here. We should be mining those metals in our own country and putting them in the cars that are helping reduce carbon into the air.”

 

To listen to the previous podcast with Alaska Energy Metals visit https://www.investorideas.com/Audio/Podcasts/2024/020624-Mining-AEMC.mp3

 

ABOUT ALASKA ENERGY METALS https://alaskaenergymetals.com/

Alaska Energy Metals Corporation (AEMC) is an Alaska-based corporation with offices in Anchorage and Vancouver working to sustainably deliver the critical materials needed for national security and a bright energy future, while generating superior returns for shareholders.

 

AEMC is focused on delineating and developing the large-scale, bulk tonnage, polymetallic Eureka deposit containing nickel, copper, cobalt, chromium, iron, platinum, palladium, and gold. Located in Interior Alaska near existing transportation and power infrastructure, its flagship project, Nikolai, is well-situated to become a significant domestic source of strategic energy-related metals for North America. AEMC also holds a secondary project, ‘Angliers-Belleterre,’ in western Quebec and the Bambino property, which is adjacent to the Angliers claim block. Today, material sourcing demands excellence in environmental performance, carbon mitigation, and the responsible management of human and financial capital. AEMC works every day to earn and maintain the respect and confidence of the public and believes that ESG performance is measured by action and led from the top.

 

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