(AsiaGameHub) - The Mayor of Burr Ridge, Illinois, Gary Grasso, has defended the indicted restaurant owner of Capri Filippo “Gigi” Rovito, Jr. Rovito is one of 22 named in an illegal gambling ring accused of operating a betting business and extorting individuals with gambling debts.
The 52-year-old was charged with four counts of extortion last month. According to the indictment, he attempted to collect gambling debts from an unnamed victim.
Prosecutors say James Gerodemos, the alleged ringleader of the group, promised Gigi half of the victim’s $30,000 debt if he could successfully collect the money.
“FILIPPO ROVITO said he was going to knock VICTIM 2’s lights out and shove his head into a machine,” states the indictment.
Mayor Has Dish Named After Him At “Nuts” Rovito’s Restaurant
Mayor Grasso has a dish named after him at Capri, Linguini alla Mayor Grasso. He said he frequently dines there with his wife and defended Rovito’s right to continue operating the business.
“To my knowledge, there is no specific allegation that Gigi actually threatened or physically harmed anyone,” the Mayor wrote in a letter to the people of Burr Ridge. “There is hearsay about it though. The allegation, so far, as to Gigi is that he is part of this illegal gambling activity in Indiana (not acceptable if true) and that ‘someone said that Gigi said’ he would harm the gambler for not paying his debt.”
The indictment states that Gerodemos described Rovito as “nuts.” As the Mayor notes in his letter, Rovito is a convicted double-felon. In 1997, he was sentenced to six years in prison for the sexual assault of a 14-year-old, which added to a six-year sentence for delivery of a controlled substance.
Usually, convicted felons are not granted liquor licenses in Illinois, but the Mayor made an exception in Rovito’s case. He claims he “met the standards for rehabilitation under state law.”
The license has caused controversy and led to a confrontation at the restaurant. Burr Ridge Village Trustee Zach Mottl, a political rival of Grasso, allegedly questioned how Rovito could gain a license as a convicted felon.
“How does a felon get a liquor license?” Mottl said, according to a police report. Rovito responded, “You need an ass beating.”
Mayor and Rovito Have Longstanding Ties
The Mayor, a qualified attorney, also wrote in his letter that he has defended Rovito in two previous lawsuits against the restaurateur.
“Yes, I also represented Gigi in two civil lawsuits where I thought he was wronged; and did so successfully because he was not responsible. It’s still America, isn’t it?” the Mayor wrote.
Rovito contributed $5,000 to Grasso’s ill-fated campaign for attorney general in 2018. Grasso returned the money after the contribution became controversial.
In 2022, a complaint was filed with the FEC alleging that Rovito had funneled illegal “straw donor” contributions to Grasso’s congressional campaign.
The complaint alleged Rovito used his wife and employees to make $11,600 in maximum-limit contributions. The case was later dismissed for lack of evidence.
Rovito Allegedly Part of Al Capone Mafia Group
Rovito has embraced alleged ties to the mafia and has built a following of over 250,000 on social media. A recent Instagram post shows him with Sopranos actor Joseph R. Gannascoli.
Filippo ‘Gigi’ Rovito (right) Img: @capribygigi on Instagram
Alongside Linguini alla Mayor Grasso, Capri’s menu also features Wise Guy Meatballs and Chicken “Forget About It.” An article in the Gangster Report last year names Rovito as an alleged member of the Cicero Crew, the Chicago-based criminal organization started by Al Capone.
Capri Restaurant was allegedly the scene of a gang fight between the Cicero Crew and Latin Kings in March last year. The report does not say Rovito was involved in the fight, and it is unclear if it is connected to the indictment unsealed last month.
Federal court records also show Rovito was allegedly paid to administer a “thorough beating” to a used car dealer who defaulted on a private loan in 2013.
Records show Michael “Mickey” Davis gave Rovito a $5,000 down payment for the beating, ultimately promising a total of “10,000 clams.” The FBI then intervened before the debtor was physically harmed, and Rovito was not charged in the case.
In the illegal gambling case, Rovito has been released on a $1 million bond.
“For now, he is out on bond and presumed innocent until otherwise proved,” stressed Mayor Grasso.
Gerodemos remains in police custody as the investigation continues, while his brother, Chris, has also been released on a $1 million bond. The group allegedly made $5 million in proceeds from their illegal gambling business.
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(AsiaGameHub) - Sciensano indicates that risky gambling habits in Belgium have stayed consistent over the last five years, even as over half of the population is still exposed to gambling advertisements weekly.
The most recent Health Survey from the Belgian public health institute reveals that 2.6% of Belgian gamblers currently exhibit risky behaviour, with 0.6% identified as being at high risk for problematic gambling.
Concurrently, the survey discovered that 52.2% of Belgians encounter at least one type of gambling advertisement each week through television, websites, or social media platforms.
The study further emphasized the ongoing prevalence of lottery products in the Belgian market, as nine out of every ten Belgian players engage in lottery games.
Gambling sponsorship exposure seems more varied. Approximately one in ten Belgians reported regular exposure to sponsorship, whereas four in ten indicated they observed minimal or no gambling sponsorship whatsoever.
Additionally, the Sciensano survey determined that men and younger age groups consistently reported greater advertising exposure compared to women and older demographics, mirroring wider global patterns associated with digital platform use and online ad reach.
Sciensano report comes after stringent Belgian measures
This report also follows a tumultuous period for regulation in Belgium, beginning with a comprehensive advertising ban proposed in 2023 and enacted the following year.
A significant change in 2024 involved increasing the legal gambling age from 18 to 21, and gambling sponsorship exposure might have decreased due to the prohibition on sports sponsorship, effective from early 2025.
Sciensano states that television, sports coverage (presumably international), and social media influencers continue to be key sponsorship points for Belgian consumers.
Within the existing framework, licensed private gambling operators are forbidden from advertising through television, radio, newspapers, magazines, and social media, along with direct communication methods such as email, post, and SMS.
Only a few exceptions are still allowed, such as communication within physical gambling establishments, on operators' dedicated websites, and under specific circumstances via targeted search engine advertising.
Nevertheless, the report also pointed out what it termed "blind spots" within the Belgian regulatory structure.
The National Lottery largely operates outside Belgium’s Gambling Act, even though it represents the vast majority of player involvement.
Consequently, lottery advertising is still widely allowed across television, radio, and social media platforms.
The report further noted the ongoing existence of the illegal online gambling market, which largely evades the practical scope of Belgian advertising limitations.
A familiar challenge…
This appears to be a worldwide issue that regulators are finding difficult to manage – a situation many will recognize.
Unlicensed operators are reportedly still targeting Belgian consumers via social media, affiliate platforms, influencers, and other digital channels, bypassing requirements for age verification, EPIS exclusion systems, deposit limits, or player protection.
The Belgian Association of Gaming Operators (BAGO) stated that these findings emphasize the necessity for a more consistent and enforcement-driven gambling policy.
“Exposure to gambling advertising and sponsorship continues to be a genuine societal issue, yet it no longer stems solely from licensed private operators,” the trade association commented.
“It is also impacted by entities that are exempt from the ban, operate under temporary regulations, or neglect to adhere to the rules.”
The association suggested that effective policy should instead concentrate on three key priorities: more robust enforcement against illegal operators; consistent advertising regulations for all gambling products; and preserving the distinctiveness of licensed gambling offerings.
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(AsiaGameHub) - Tipico Sportwetten has confirmed its position as the sole licensed sports betting operator authorized to stream every match of the FIFA World Cup 2026 to viewers in Germany.
This morning, Tipico released an update to clarify its streaming privileges, noting: “From June 11 to July 19, when the World Cup captures the attention of fans around the globe.”
“Tipico will offer an elevated live experience for its clients: exclusively for eligible users, the leader in Germany’s sports betting sector will stream World Cup matches, standing as the nation’s first and only sports betting provider to do so.
“Eligible Tipico users can view every match via tipico.de and the Tipico Sports Betting application.”
Earlier in May, the betting group for the DACH region revealed plans to stream all 104 matches of the 2026 World Cup to eligible customers in Germany.
While not officially confirmed, it is probable that Tipico secured the exclusive streaming package for betting operators from Stats Perform, FIFA’s inaugural official distributor for betting data and streaming rights.
Tipico’s initial declaration faced scrutiny from German media outlets. Reports suggest that both Deutsch Telekom and FIFA were taken by surprise, leading to the temporary removal of promotional materials regarding the World Cup streaming service from the operator’s site.
At that point, Deutsch Telekom emphasized that it retains exclusive ownership of Germany’s primary broadcasting rights for the FIFA World Cup 2026 via MagentaTV, having also sublicensed specific matches to public broadcasters ARD and ZDF.
Deutsch Telekom stood firmly behind MagentaTV as the premier platform for World Cup coverage, asserting that “Anyone who truly wants to experience the World Cup cannot bypass Magenta.TV.”
Nevertheless, the broadcaster called upon FIFA or Tipico to offer clearer explanations to German viewers concerning the specific nature and constraints of the sportsbook streaming offering.
Tipico emphasizes streaming is exclusively for betting
In response to the criticism, Tipico has taken steps to explicitly outline the scope and technical boundaries of its product, highlighting that the service is intended strictly as a betting-streaming feature, not a replacement for high-quality television broadcasts.
The operator specified that streams will be accessible solely to verified customers in Germany who hold a positive account balance or have placed a bet within the last 24 hours.
Additionally, the streaming interface will be subject to strict display limitations, occupying only one-third of the screen on desktops and tablets, or one-half on smartphones.
Tipico further stressed the operational separation between the livestream and the sportsbook environments – “The live streaming and the sports betting product are clearly separated. In order to see Tipico’s product, the user needs to actively leave the streaming screen, and the service will stop once the product page is shown.”
In its updated communication, the operator also recognized Telekom’s stance, noting that the betting-stream product differs significantly from full television broadcasts in terms of both technical quality and presentation.
“Please also note, Telekom Deutschland GmbH is the sole holder of the TV broadcasting rights for the FIFA World Cup 2026 in Germany and has granted a sub-licence for selected matches on free-to-air TV to the public broadcasters ARD and ZDF.
Tipico highlights that its World Cup streams mark a major upgrade to its engagement services, expressing pride in being the first licensed German bookmaker to offer such content through its digital channels.
FIFA has reaffirmed its agreement with Stats Perform as the exclusive distributor of betting-streams and data rights to licensed bookmakers, a collaboration encompassing the 2026 FIFA World Cup, the 2027 FIFA Women’s World Cup, and numerous FIFA youth and futsal tournaments through 2029.
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(AsiaGameHub) - The Department for Culture, Media and Sport (DCMS) has released new details on the remit of the UK’s Illegal Gambling Taskforce, five months after its creation.
Back in January, Gambling Minister Baroness Twycross made a landmark announcement that the government has set up a specialised unit to wage war on the black market in the UK. Not much else was known about the operations of this taskforce, until now.
Three key objectives
Those assigned to the taskforce will work towards lessening the influence of illegal gambling by tackling three distinctive objectives – preventing payments from and to black market operators, taking down offshore online marketing, and enhancing cross-agency enforcement to crack down on illegal remote and land-based gambling.
All three objectives will be handled by a separate Taskforce sub-group, which will assess the progress made and propose follow-up amendments.
Enforcement powers still on the cards
The DCMS added that from the outset, the Taskforce and its sub-groups will not hold any power to direct or intervene in the work of the UK Gambling Commission (GC), although this could evolve with time as new priorities and challenges are identified, and any intended change is first agreed among all members.
Structure of the taskforce
Members of the Taskforce will include gambling industry stakeholders, policy experts, tech and fintech providers, GC and other government officials, and trade body representatives. It will be chaired by Baroness Twycross, while Ben Dean, DCMS Director for Sport and Gambling, has been named as Co-Chair.
Duration of the taskforce’s remit will span across 12 months, at the end of which members will take a decision whether to renew it. Taskforce operatives will conduct biannual meetings, while sub-groups ‘are recommended’ to convene on a quarterly basis.
Meetings will be conducted under Chatham House rules, where sources of information will remain anonymous.
Work planning and administrative duties will be handled by DCMS officials acting as the Taskforce Secretariat, which will be responsible for arranging meetings, circulating papers, and coordinating taskforce-sanctioned actions.
The taskforce comes at a time of prolific global expansion for the black market, with market analyst firm Gaming Compliance International revealing that illegal gambling operators are now attracting a combined $5.9trn (£4.36trn) in unregulated wagers – higher than the GDP of almost any country in the world.
The GC, meanwhile, is also stepping up activities against illegal gambling, backed by an additional £26m in funding – which will in turn be backed by the UK”s new gambling tax framework. Just last week the regulator put out a job advert for a new Head of Illegal Markets.
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(AsiaGameHub) - The Autorité Nationale des Jeux (ANJ), France’s gambling regulator, has introduced a new algorithm to estimate problem gambling activity nationwide – with early results raising significant concerns.
Initial findings show that players classified as high-risk account for 60% of total operator gross gaming revenue (GGR), a proportion the ANJ labelled “concerning.”
The regulator has highlighted a dual rising trend: both the number of problem gamblers and their share of operator revenues are increasing.
According to the ANJ, the algorithm detected around 600,000 individuals with a high likelihood of excessive gambling during the second half of 2025.
This figure represents 8.7% of the total online account-based gambling population across licensed operators, including those holding accounts with FDJ United and Pari-Mutuel Urbain (PMU)—two of France’s largest gambling operators.
Of these 600,000 players, approximately 300,000 were deemed “manifestly excessive” gamblers, whose identification by operators the ANJ considers essential.
The regulator also disclosed that these high-risk players contributed roughly €1.2bn (£1.03bn) in GGR, making up 60% of total online gambling revenue. The ANJ noted this share has been steadily climbing since 2023.
In light of these findings, the ANJ concluded that operators’ current measures to detect and assist excessive gamblers remain inadequate.
World Cup concern?
The regulator is also preparing for potential challenges ahead of this summer’s 2026 FIFA World Cup—an event for which it has already cautioned gambling firms against deploying overly aggressive marketing tactics.
Adding to these concerns, a 2024 French study found that 15.3% of sports bettors are currently classified as problem gamblers.
The new algorithm is a key component of the ANJ’s 2024–2026 strategic plan, which prioritises reducing excessive and pathological gambling as a core objective of French gambling regulation.
Under French law, operators must identify and support problem gamblers through actions such as direct player interventions, setting gambling limits, monitoring accounts, referring users to support services, and, where necessary, closing accounts.
Efforts in this area have intensified recently, including the launch of a redesigned national self-exclusion register aimed at mitigating gambling-related harm.
While the ANJ recognised some progress in operator performance—with the number of identified excessive gamblers rising from 31,000 in 2024 to 89,000 in 2025—it stressed that these numbers remain far below expectations, given the size of the player base and existing prevalence data.
To address this gap, the ANJ developed the algorithm using continuous player account data provided by licensed operators, combined with scientific research on gambling behaviour.
ANJ’s algorithm to categorise players
The system assesses players based on 23 indicators and risk factors related to financial activity, gambling frequency, use of moderation tools, and player history. Using these criteria, players are grouped into four categories:
recreational players
moderate-risk players
excessive players
manifestly excessive players
The ANJ stated that the algorithm’s accuracy was validated against the Canadian Problem Gambling Index, under the oversight of a scientific committee composed of leading researchers.
Although comparable initiatives are under development in countries such as Spain and the Netherlands, the ANJ said its model is currently the only operational tool of its kind in Europe.
Operators may use the algorithm voluntarily in conjunction with their own internal monitoring systems. However, the ANJ made clear it expects swift improvements in detection capabilities, especially concerning the 300,000 players identified as manifestly excessive.
Isabelle Falque-Pierrotin, President of the ANJ, said: “The completion of this algorithm and its release to operators marks a pivotal moment for the regulator. It showcases our capacity to create an innovative and effective tool designed to accurately reflect real-world online gambling behaviours.
“In addition to existing surveys, the algorithm enables a more objective evaluation of operators’ efforts to identify problem gamblers—efforts that must continue without delay.
“It is also crucial that this identification process extends to physical points of sale, a goal we have consistently urged the two monopolies to pursue since 2024.”
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LONDON, May 14, 2026 - (ACN Newswire via SeaPRwire.com) - Asset Value Investors Limited (“AVI”) has submitted shareholder proposals on one of AVI Japan Opportunity Trust’s (“AJOT”) portfolio companies, Wacom Corporation (TSE: 6727, “Wacom”) calling for board changes ahead of Wacom’s upcoming Annual General Meeting in June. AVI, Wacom’s largest shareholder on behalf of all the portfolios it manages, is seeking the dismissal of two directors and the appointment of one external director.Alongside these proposals, AVI has disclosed additional material on its Wacom campaign, including a detailed presentation on an updated dedicated website (www.DrawWacomsFuture.com).Since initiating its investment in Wacom in August 2021, AVI has sought various forms of engagement aimed at enhancing the company’s long-term corporate value as Wacom’s largest shareholder. However, the Branded Business, one of Wacom’s principal business segments, fell into loss from FY2023/3 onwards, and business growth has stalled amid the implementation of large-scale restructuring measures. Furthermore, AVI has serious concerns regarding Wacom’s governance framework in light of the recently announced inappropriate acquisition of a company represented by one of Wacom’s own outside directors, despite the absence of tangible business synergies with Wacom, as well as the improper use of corporate resources, including the provision of preferential treatment to the children of the company representative director, Mr Ide.In light of these circumstances, AVI, as the company’s largest shareholder and a long-term investor on behalf of all the portfolios it manages, publicly launched a campaign last year to support sustainable improvements in corporate value. This year, AVI has decided to publish additional materials and submit shareholder proposals at the upcoming annual general meeting, as follows:- Appointment of one outside director - Dismissal of two directors (the Representative Director and one outside director)Kaz Sakai, Head of Japan Research at AVI, commented as follows: “Wacom has demonstrated serious deficiencies in governance oversight. These include the acquisition by Wacom of a loss-making company represented by Mr Nakajima, one of its own external directors, for more than ten million dollars, the subsequent transfer of Mr Nakajima into an internal director role, and conduct by Mr Ide, Wacom’s Representative Director and CEO, that can only reasonably be viewed as a conflation of personal and corporate interests, together with a board that has tolerated such behaviour.”“Wacom must restore the proper functioning of its governance framework without delay. In addition to proposing the dismissal of Mr Ide and Mr Nakajima, whom AVI has concluded are central to these governance failures, AVI has also nominated a candidate for outside director capable of strengthening governance and management. We are confident that, through the board structure recommended by AVI and the implementation of operational improvement measures, Wacom can further reinforce its position as the global market leader in the graphic tablet business.”About Asset Value Investors (AVI):AVI is an investment management company established in London, United Kingdom, in 1985. AVI has invested in Japanese equities for more than 40 years. AVI manages AVI Global Trust (AGT) and AVI Japan Opportunity Trust (AJOT) and other funds, collectively investing Y180bn into the Japanese market. AGT and AJOT are public companies whose shares are listed and traded on the main market of the London Stock Exchange.AVI is a signatory to Japan’s Stewardship Code and is committed to constructive engagement with management teams and boards of its portfolio companies, with the aim of contributing to sustainable growth and enhanced enterprise value.AVI’s holding in Wacom on behalf of all its funds is 13.8% making AVI the largest shareholder (as of 30 April 2026). Wacom is a 5.5% holding in AJOT.Media Contacts:KL Communications, AVI@kl-communications.com+44 (0)20 3882 6644Ashton Consulting, avijapanpr@ashton.jpThis information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS Reach: https://www.londonstockexchange.com/news-article/AJOT/avi-urges-the-dismissal-of-two-directors-at-wacom/17592170 Copyright 2026 JCN Newswire via SeaPRwire.com. All rights reserved. www.jcnnewswire.com
(AsiaGameHub) - SBC Events is set to increase its emphasis on regulation starting in 2026, following the signing of a three-way agreement with the International Association of Gaming Regulators (IAGR) and the International Masters of Gaming Law (IMGL).
This agreement establishes a three-year collaboration among the three organizations to deliver regulatory education in the igaming sector through SBC's various events and media platforms.
IAGR stands as the foremost global body for gaming regulators, managed solely by regulatory authorities. SBC operates as a worldwide entity offering international events, media, and content to the global gaming industry. IMGL represents the premier global network of expert lawyers, regulators, and professional advisors within the gaming industry.
The purpose of this agreement is to improve regulatory education, foster international cooperation, and facilitate knowledge sharing via conferences, events, and associated content projects. The involved parties plan to work together on creating educational materials such as interviews, commentary, podcasts, and publications focused on regulatory matters.
IAGR President Ben Haden stated: “A crucial opportunity for global gambling regulators involves consistently engaging with all segments of the international industry to educate businesses on evolving rules and laws within our sector and to exchange perspectives. This cooperative partnership with SBC and IMGL will significantly streamline communication among stakeholders and enable us to elevate standards.”
IMGL President Marc Dunbar further commented, “This collaboration is ideal for ensuring the industry remains informed about permissible and impermissible activities across global jurisdictions. The combined strength of IMGL’s network of igaming lawyers, IAGR’s regulator members, and SBC’s industry reach and comprehensive content offerings provides an effective means to keep the industry updated on recent developments.”
SBC Founder & CEO Rasmus Sojmark remarked: “Regulation has become increasingly vital to how companies in our industry operate, and the constantly shifting regulatory environment makes compliance progressively challenging. Therefore, I am proud to partner with IAGR and IMGL to provide SBC’s audience with the most accurate information on global legal changes.”
A significant initiative planned for this year involves introducing a comprehensive series of regulatory meetups at the SBC Summit in Lisbon, scheduled for September 29 – October 1, 2026. These sessions aim to provide stakeholders with the latest updates on numerous global gambling markets. Further details on these regulatory meetups will be available at https://sbcevents.com/sbc-summit/. Additionally, the organizations will lend their support to the IAGR Annual Conference, taking place in Lima, Peru, from October 19-22, 2026.
Ends
About SBCSBC stands as a global leader in providing events, media, and advisory services for the betting and gaming sector. Through its six major events across Europe, North America, and Latin America, alongside a network of over 13 editorial brands, SBC facilitates connections, insights, and opportunities that enable businesses to grow, expand, and engage with crucial decision-makers throughout the year.
About the International Association of Gaming Regulators (IAGR)The International Association of Gaming Regulators (IAGR) offers a platform for gaming regulators globally to convene, acquire best practice techniques and strategies, network, and exchange perspectives, share data, and deliberate on legislation, policies, and procedures.
About International Masters of Gaming Law (IMGL)The International Masters of Gaming Law (IMGL) unites prominent attorneys, regulators, executives, and advisors worldwide who specialize in gaming law and regulation. By fostering education, collaboration, and the exchange of ideas, it contributes to shaping best practices and supports the expansion of the global gaming industry. The organization is founded on professionalism, integrity, and a collective dedication to excellence in gaming law.
Media Contacts:
International Association of Gaming Regulators (IAGR)Kevin P. Mullally, CEOceo@iagr.org
SBC EventsJames Shanahan, CMOjames.shanahan@sbcgaming.com
International Masters of Gaming Law (IMGL)Phil Savage, Head of Publications and European Affairsphil@imgl.orgBrien Van Dyke, Executive Directorbrien@imgl.org
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HONG KONG, May 14, 2026 - (ACN Newswire via SeaPRwire.com) - Galaxy Payroll Group Limited (NASDAQ: GLXG) (“GLXG” or the “Company”), a provider of payroll outsourcing and employment services, today announced its unaudited financial results for the six months ended December 31, 2025.Financial Highlights· Revenue increased to HKD14.0 million (US$2.0 million), representing year-over-year growth of approximately 2%· Total number of customers increased from 196 to 210· Net loss improved significantly from HKD26.5 million (US$3.4 million) to HKD1.1 million (US$0.1 million)· Operating expenses declined substantially following normalization of prior-period non-recurring expenses· Net cash provided by operating activities was HKD1.25 million (US$0.2 million)· Cash balance increased to HKD33.2 million (US$4 million) as of December 31, 2025The Company’s employment services business continued to expand across multiple Asian markets, supported by growing demand for cross-border employment and outsourcing solutions.The substantial reduction in net loss compared to the prior period primarily reflected the absence of certain one-time research and development expenditures and listing-related costs incurred during the prior fiscal year.For the full interim unaudited financial statements for the six months ended December 31, 2025, please refer to the report of foreign issuers furnished by the Company with the United States Securities and Exchange Commission on the even day of this release.Business UpdateThe Company has also observed encouraging business activity entering 2026, including increases in client headcount across selected accounts and continued onboarding of projects in multiple markets. These observations are preliminary in nature and may not necessarily be indicative of future financial results.Capital PositionAs of December 31, 2025, the Company maintained cash and cash equivalents of approximately HKD33.2 million (US$4 million) and positive working capital. Management believes the Company’s current liquidity position supports its present operating plan and ongoing business development activities.Based on current expectations, the Company does not currently expect to require near-term external equity financing and has no present intention to establish an at-the-market (“ATM”) offering program over the next 12 months. This assessment remains subject to market conditions, business performance, and strategic considerations.Management CommentaryWai Hong Lao, Chief Executive Officer of GLXG, commented:“Our interim results reflect continued progress in stabilizing and strengthening our operating profile following our public listing. While revenue growth remained modest during the period, we achieved meaningful improvement in our cost structure and operating performance.We are encouraged by the continued expansion of our customer base, positive operating cash flow, and ongoing business activity entering 2026. We remain focused on disciplined execution, prudent capital management, and building long-term shareholder value.”About Galaxy Payroll Group LimitedGalaxy Payroll Group Limited is a provider of payroll outsourcing and employment services operating across multiple Asian markets.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of applicable securities laws. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Factors that could cause such differences include, but are not limited to, market conditions, customer demand, competitive conditions, regulatory developments, financing conditions, and the Company’s ability to execute its business strategy. Forward-looking statements include statements regarding future business activity, growth expectations, liquidity, and financing intentions. The Company undertakes no obligation to update forward-looking statements except as required by law. Copyright 2026 ACN Newswire via SeaPRwire.com. All rights reserved. www.acnnewswire.com
Vancouver, British Columbia--(ACN Newswire via SeaPRwire.com - May 14, 2026) - Euro Manganese Inc. (TSXV: EMN) (ASX: EMN) (FSE: E060) and its subsidiary Mangan Chvaletice, s.r.o. ("Mangan" and together the "Company", "Euro Manganese" or "EMN") is pleased to announce the results of a new Preliminary Economic Assessment ("PEA") for the development of its Chvaletice Manganese Project ("Chvaletice Manganese Project", "CMP", or "Project") in the Czech Republic.The PEA is a result of the Company's Optimization Program previously announced1, and builds on the extensive knowledge presented in the Company's Technical Report and Feasibility Study for the Chvaletice Manganese Project, Czech Republic, dated effective July 27, 2022[2], (the "2022 Feasibility Study"). The PEA responds to current market conditions and incorporates the Company's testing campaigns, demonstration plant learnings, and prospective customer testing and feedback to provide an updated preliminary and conceptual development path for the Chvaletice Manganese Project.With most permits secured, a finalized Environmental Impact Assessment ("ESIA"), and official designation as a Strategic Deposit under Czech law and a Strategic Project under the EU Critical Raw Materials Act, Euro Manganese is ready to respond to customers seeking a fully traceable battery-grade manganese supply chain, reducing dependence on Chinese sources and supporting strategic mineral independence objectives.The Chvaletice Manganese Project is well placed to take advantage of U.S. federal procurement and incentive frameworks that increasingly require that critical battery materials — including high-purity manganese used in electric vehicle and energy storage applications — be sourced from allied and US National Defense Act ("NDAA") compliant nations. The Czech Republic, as a NATO member and close U.S. ally, qualifies as an NDAA-compliant source country.HIGHLIGHTS(All economic values are in US dollars unless indicated otherwise)Strong Operating Margin of 48%, demonstrating resilience of the Project and the potential to generate significant returns across commodity price cycles.Robust Returns: Pre-tax IRR of 16.0% and Post-tax IRR of 13.8%, underpinned by a pre-tax NPV of $740M and post-tax NPV of $492M (8% discount rate), showing favorable preliminary economic indicators on historically conservative pricing assumptions.Higher Recoveries, 60% for High-Purity Manganese Sulphate Monohydrate (HPMSM) and 61% for High Purity Manganese Metal (HPEMM), reflecting additional metallurgical test work, operational learnings from the demonstration plant, and process engineering updates.Revised Flowsheet supports 50,000 tpa of HPEMM with full conversion to 150,000 tpa of HPMSM, aligning with battery industry demand while maintaining flexibility to deliver both HPEMM and HPMSM products as customer needs evolve.Newly incorporated magnesium carbonate ("MgCO3") resource as a by-product enables production of up to 20,000 tpa MgCO3, adding incremental value with minimal capital.CAPEX costs remain broadly consistent with the 2022 Feasibility Study, including with increased HPMSM output, despite an inflationary environment.OPEX reduced for per unit cost of HPMSM compared to the 2022 Feasibility Study, due to increased production of HPMSM and updated reagents and energy costs.Updated pricing assumptions demonstrates potential economic viability of the Project even under conservative current market conditions, underscoring its durability through price cycles.Phased development reduces upfront capital requirements, lowers funding risk, and allows further optimization before full-scale expansion.Phase II buildout planned shortly after Phase I commissioning to maximize project value and shareholder returns.Initial Capital, Phase One (50% capacity): $627.5M; Plant Capacity Expansion Capital, Phase Two (to 100% capacity): $197.8M.Annual nominal production: 150,000 tpa HPMSM.Project life: 26 years.Average life of project HPMSM price assumed at $2,888 per tonne.NEXT STEPSThe PEA has enabled the Company to optimize inputs based on current pricing, establishing the possibility for a two-stage construction strategy. This phased approach has the potential to allow for further optimization in phase two, lower upfront capital requirements, and enhance project economics by aligning investment with cash flow.The Company will now advance the Chvaletice Manganese Project further towards a full feasibility study, with a targeted completion in H1 2027.The Company will also continue to monitor high purity manganese markets and strategic sectors to which it contributes, including energy transition, grid-scale energy storage, e-mobility and aerospace and defence technologies.The Company will continue to engage with potential customers to secure additional offtake term sheets, pursue offtake agreements, and continue product testing.In addition, during 2026, the Company is focused on the following key priorities to position the Project for its next development phase by:Advancing the financing strategy by securing funding for Project priorities and progressing strategic financing discussions with potential partners;Completing the acquisition of, or access to, the remaining land surface rights required for full Project development;Strengthening the Project's regulatory foundation through the continuous advancement of permitting, further reducing development risk and demonstrating Project readiness; andMaximizing non-dilutive capital by actively pursuing grants and incentives available from the EU and the Czech state.Martina Blahova, President & CEO of Euro Manganese, commented:"The publication of these PEA results marks another important milestone for the Chvaletice Manganese Project. Our recent optimization work has delivered measurable improvements in recovery, confirming both the strength of our technical strategy and the reliability of our process. To enhance capital efficiency and align investment with market demand, we have adopted a phased construction approach that maximizes value while reducing execution risk. The addition of by-product revenue stream further incrementally strengthens the economics of the project."This disciplined approach, coupled with conservative product pricing assumptions, supports a robust project profile with a strong operating margin of 48%, underscoring the Project's ability to perform through market cycles. Despite the challenging market and pricing conditions, the PEA results demonstrate the strength and resilience of the Project. It provides a clear pathway to unlocking the full long-term value of the Chvaletice Manganese Project as demand accelerates for localized, traceable, and sustainably produced battery grade high purity manganese. We are built to perform in volatile markets, engineered for operational efficiency, and positioned to play a strategic role in securing resource independence and reducing vulnerability amid an increasingly complex global landscape."Rick Anthon, Chairman of Euro Manganese, commented:"As a Board, we are encouraged by the progress reflected in this PEA and confident the Chvaletice Manganese Project can deliver on these terms for its shareholders, customers and stakeholders. The team has advanced the Project with a clear focus on technical rigour, capital efficiency, and responsible development. The phased construction strategy and strengthened economic profile demonstrate a thoughtful approach to building a long-life asset that can scale with market demand."With no operating manganese mines in Europe and as the only integrated high purity manganese producer in Europe and North America, the Chvaletice Manganese Project is uniquely positioned to become a cornerstone of Europe's emerging battery materials supply chain. The Project's strategic relevance, combined with its strong environmental credentials and growing commercial traction, reinforces our confidence in its long-term value. We believe the foundations are now firmly in place for Chvaletice Manganese Project to move toward the next stage of development and deliver meaningful returns for shareholders."PEA SUMMARY AND ECONOMIC ANALYSISThe PEA was completed by Tetra Tech Canada Inc. ("Tetra Tech"). A NI 43-101 technical report on the PEA will be filed under the Company's profile on SEDAR+ within 45 days of this news release and made available on the Company's website. A JORC report will be lodged with the Australian Securities Exchange ("ASX") ASX shortly thereafter.The following summarizes the material assumptions used in, and the results of, the PEA, assuming a targeted start of production in 2032.The Czech corporate income tax rate is 21%. In addition to the royalty of CZK 2,308 per tonne of unit Mn produced, the Czech Republic has various payroll and other taxes to generate revenue.The Company has modeled the economics of this project conservatively from a tax perspective, with a full tax burden, based on Czech legislated tax rates.Investment incentives exist in the Czech Republic and the European Union for certain, qualified investments, including investment tax credits, grants, and accelerated depreciation.The Company is actively pursuing these non-dilutive funding opportunities, including investment tax credits, grants, and accelerated depreciation available under both Czech and EU frameworks.Sensitivity AnalysisA sensitivity analysis for the Chvaletice Manganese Project was carried out to determine the effects of key variables in relation to the post-tax NPV of $492 million at a real discount rate of 8%. The results of the sensitivity analysis are presented in Table 3 below.Initial and Sustaining Capital EstimatesCapital expenditure estimates have been prepared for both initial and sustaining capital. A projected summary timeline of scheduled capital costs is shown in Table 4.The expected initial capital expenditures (Table 4) for the Project, inclusive of capitalized operating startup costs, as estimated by Tetra Tech, as of Q1, 2026, are $627.5 million, including all development-related costs that will be incurred prior to the envisaged commencement of commercial operations. Capital costs incurred after startup are assigned to sustaining capital and are projected to be paid out of operating cash-flows (also see Table 5). Contingencies on initial capital expenditure have been added at appropriate percentages to each component of the Project, excluding capitalized operating costs, resulting in an overall contingency of $66.7 million or 15.5% of direct costs.The Project site is served by excellent existing infrastructure, including rail, highway, a gas pipeline, and water and is adjacent to an operating power plant. The proposed plant site is zoned for industrial use and is the site of the former process plant that produced the Chvaletice tailings.New and refurbished infrastructure that will be built to service the Project include a tailings excavation and handling facility: a south and north site connection utility bridge for transporting tailings slurry, return water pipes and the tube conveyor that returns a mixture of non-magnetic tailings and washed leach residue to the residue dry stacking area; a magnetic separation beneficiation plant; enclosed and winterized process plant buildings and various reagent storage facilities and product warehouse; an upgraded rail spur system with related loading/unloading facilities; an internal road network; an incoming electrical 400kV high voltage grid connection including rectifiers, transformers, GIS switchgear, and local distribution step-down transformers; a process equipment maintenance workshop; a mobile fleet maintenance workshop; spare part and maintenance supply warehouses; a comprehensive water management system, onsite laboratories; and general administrative offices.Operating Cost EstimateOnsite operating costs are expected to average $181.99 per tonne plant feed ($4.14 per kg Mn equivalent) with offsite operating costs estimated to average $31.73 per tonne plant feed ($0.72 per kg Mn equivalent), as shown in Table 5.Resource EstimateTetra Tech was engaged to oversee the planning and execution of sampling and assaying, to prepare the updated Resource Estimate for EMN's Chvaletice Manganese Project, to prepare the Technical Report in accordance with National Instrument 43-101 - Standards and Disclosures for Mineral Projects, and to prepare the independent JORC Code technical report in accordance with the Joint Ore Reserves Committee Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves 2012 Edition ("JORC Code"). The 43-101 Technical Report, entitled "Technical Report and Mineral Resource Estimate for the Chvaletice Manganese Project, Chvaletice, Czech Republic", with an effective date of December 8, 2018 ("the Mineral Resource Estimate"), was filed on SEDAR on January 28, 2019. The corresponding JORC Code technical report with an effective date of December 8, 2018, was lodged on the ASX on February 6, 2019.No additional drilling or data collection pertaining to the technical disclosure of mineral inventory has been undertaken since the completion of the Mineral Resource Estimate, and the effective date for Mineral Resource Estimate is revised to April 27, 2026.The Project's combined Measured and Indicated Resources now amount to 26,960,000 tonnes, grading 7.33% total manganese (tMn) and 5.86% soluble manganese (sMn), as detailed in Table 6 below.PROCESSING FACILITIES DESCRIPTIONTailings Extraction, Residue Storage Facility and ReclamationIn the tailings extraction plan, the three tailings cells will be excavated in a counterclockwise sequence, starting with Cell #3, followed by Cells #1 and #2. Tailings will be extracted using shovel excavators and hauled by truck to an intermediate re-pulping and a covered storage station located between Cells #1 and #2. The storage station will create a 5-day material stockpile. Re-pulped tailings will be fed to the magnetic separation plant via a slurry pipeline on a continuous basis.A filtered blend of non-magnetic tailings and washed leach residue materials from the process plant will be conveyed using a tube conveyor to the storage station and placed and compacted in the Residue Storage Facility (RSF). The excavated area exposed after extraction of the existing tailings will be lined with a geomembrane liner. The RSF will be constructed in stages to suit residue storage requirements and progressively covered to limit the footprint of residue exposed to the air at any given time.RSF design features include a geomembrane lined bottom, perimeter surface water diversion and a contact water collection system that is integrated with the overall site water management system. Dust management includes the implementation of modern dust suppression methods on open faces, interim stack surfaces and haul roads, as required.Progressive reclamation will be undertaken as an integrated part of the residue stacking procedure. The filtered residue cover will consist of a low permeability soil and/or geomembrane cover to inhibit erosion and infiltration, and a growth layer to support vegetation growth.The site is expected to be fully reclaimed and brought back into a productive community to be established in consultation with local communities, regulators and national government agencies. The RSF will be monitored during the post-closure period for geotechnical and environmental performance.High Purity Manganese Products Production FacilityThe processing facilities, including ancillary facilities, for HPMSM production from the CMP tailings were designed by Beijing General Research Institute for Mining ("BGRIMM") together with EMN and Tetra Tech, based on the comprehensive metallurgical test results conducted during the previous PEA and validated through bench scale tests during the feasibility study. Additional metallurgical tests to recover manganese from anode slimes from electrowinning circuit were also conducted to support this PEA.The study was based on the design work completed for the 2022 Feasibility Study which included process circuit and process equipment optimization. Key equipment items were sized and selected based on the FS design by upgrading HPMSM circuit from the nominal capacity of 100,000 t/a to 150,000 t/a. In addition, two additional circuits, one for manganese recovery from anode slimes produced from the electrowinning circuit using reductive leaching and one for sodium and potassium removal from the HPMSM crystallization circuit by incorporating a high-temperature crystallization bypass system. One additional circuit to convert the magnesium carbonate from waste to a saleable by-product is incorporated into the magnesium removal circuit.The CMP process plant has been designed for a nominal nameplate production capacity of 150,000 tonnes per annum of HPMSM by processing approximately 1.1 million tonnes of the historical tailings per year.HPMSM is produced by converting HPEMM flakes produced by electrowinning process without the use of selenium and chromium. This product is expected to best meet the high purity manganese market demand anticipated in current and future battery formulations.The CMP HPMSM product is designed to contain no less than 99.9% high purity manganese sulfate monohydrate and a minimum of 32.34% manganese and will be sold in powder form, produced without the use of fluorine.The dried HPMSM powder product will be packed prior to being shipped in trucks or containers to customers .The process includes following unit circuits:High-intensity wet magnetic separation circuit, upgrading the excavated tailings manganese grade to approximately 15% tMn for acid leaching.Magnetic concentrate sulfuric acid leaching, neutralization to remove impurities and solid-liquid separation.Pregnant leach solution deep purification to further remove heavy metals.Manganese electrowinning to produce high purity HPEMM (high-purity electrolytic manganese metal) flakes using a selenium free process.A magnesium removal process circuit to ensure efficient electrowinning operations and high-quality product and magnesium carbonate produced as a by-product.HPEMM dissolution, solution purification and HPMSM crystallization and drying to produce battery-grade HPMSM for sale.Other supporting circuits, such as ammonium recovery system, water management systems, steam generation. The proposed process flow sheet is illustrated in Figure 1 below.Figure 1: Updated Simplified Process FlowsheetTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/11453/297390_4c2a5f3814e549ad_001full.jpgENVIRONMENTAL IMPACTS, PERMITTING AND COMMUNITY ENGAGEMENTEnvironmental impacts are monitored over the long term as part of the project. The ESIA process was conducted in two phases, supplemented by several expert studies and on-site monitoring. The result of the ESIA process, which involved participation from relevant authorities and the public, is the positive Environmental and Social Binding Statement, which was issued by the Ministry of Environment in March 2024. The ESIA permit is a crucial permit demonstrating that the assessed impacts on individual environmental components and the social sphere are acceptable and that the project is feasible.The assessment results show that the implementation of the project will not worsen existing environmental conditions and will not have negative social impacts. Furthermore, the realization of the project will reduce the identified contamination of groundwater and surface water in the tailings and its vicinity, where the source of the pollution is demonstrably deposited material. As the deposit is of anthropogenic origin and the mined material is a waste-product, this constitutes the reuse or recycling of waste, aligning with the principles of the circular economy. The aim of remediation and reclamation is to create a near-natural area with high biodiversity and stability, which will be used for recreational and sports activities.The ESIA process is followed by a subsequent permitting process when a significant portion of the permits had already been obtained, such as the Permit for the location of the processing plant, the Permit for the location of the rail spur, Product registration under the EU's REACH Regulation, and other permits related to auxiliary activities (utility relocations, grid connection, and others). Another key permit is the Determination of the Mining Lease Permit, which was granted to MANGAN Chvaletice, s.r.o on January 23, 2025; this is another crucial permit which authorizes the company to conduct mining activities. In the following steps, the company will undergo the permitting process stipulated by the Building Act, followed by the final operating permit.In 2026, the Company will continue to advance the permitting process under the Building Act, targeting completion of the final operating permit pathway in line with the feasibility study timeline. Each permitting milestone achieved further reduces Project risk and reinforces the Company's readiness to move into the next phase of development.Key Highlights of the Social Commitment:Significant Economic Catalyst: The Project will act as a primary economic driver in the Pardubice Region, creating 800-1,000 jobs during construction and providing stable, long-term employment for approximately 400 direct staff during operations, with a strong 85% local hiring commitment.Commitment to Transparency: The Project has established a robust engagement framework, including a dedicated public information center in Chvaletice and dedicated digital platforms (project-specific website and online grievance tools).Validated Social Acceptance: On March 27, 2024, the Czech Ministry of the Environment issued a favorable binding ESIA opinion, confirming that the Project meets the highest environmental and social standards. The Project currently faces no material barriers to acceptance, reflecting a strong Social License to Operate.BENEFITS OF PEA AND NEXT STEPSThe PEA enabled the Company to optimize inputs based on current pricing, establishing the possibility for a two-stage construction strategy. This phased approach has the potential to allow for further optimization in phase two, lower upfront capital requirements, and enhance project economics by aligning investment with cash flow. The Company plans to explore this and other avenues to advance the Chvaletice Manganese Project further towards feasibility study, with targeted completion in H1 2027.The Company will also continue to monitor high purity manganese markets and strategic sectors to which it contributes, including energy transition, grid-scale energy storage, e-mobility and aerospace and defence technologies. The Company will continue to engage with potential customers to secure additional offtake term sheets, pursue offtake agreements, and continue product testing.In addition, during 2026, the Company is focused on the following key priorities to position the Project for its next development phase by:Advancing the financing strategy by securing funding for Project priorities and progressing strategic financing discussions with potential partners;Completing the acquisition of, or access to, the remaining land surface rights required for full Project development;Strengthening the Project's regulatory foundation through the continuous advancement of permitting, further reducing development risk and demonstrating Project readiness; andMaximizing non-dilutive capital by actively pursuing grants and incentives available from the EU and the Czech state.Competent and Qualified Person StatementAll production targets for the Chvaletice Manganese Project referred to in this news release are underpinned by estimated Measured and Indicated Mineral Resources prepared by Competent Persons and Qualified Persons in accordance with the requirements of the JORC Code and NI 43 - 101, respectively. Additionally, the scientific and technical information included in this news release, is based upon information prepared, verified, and approved by Mr. James Barr, P. Geo, Senior Geologist, Mr. Jianhui (John) Huang, Ph.D., P. Eng., Senior Metallurgical Engineer, Mr. Hassan Ghaffari, P.Eng, M.A.Sc., Senior Process Engineer, Mr. Chris Johns, P.Eng, Senior Geotechnical Engineer, and Mrs. Maurie Marks, P.Eng, Senior Mining Engineer, all with Tetra Tech. Mr. Barr, Mrs. Marks, Mr. Ghaffari, Mr. Johns, Mr. Hasanloo and Mr. Huang are consultants to, and independent of, EMN within the meaning of NI 43-101, and have sufficient experience in the field of activity being reported to qualify as Competent Persons as defined in the JORC Code, and are Qualified Persons, as defined in NI 43-101. Mr. Barr is responsible for the Mineral Resource Estimate, Mr. Huang is responsible for the metallurgical test work results, process engineering, operating cost and capital cost estimates, environmental studies, permitting, and social or community impact. Mr. Ghaffari is responsible for infrastructure, Mrs. Marks is responsible for mining and financial analysis, Mr. Johns is responsible for design of the residue storage facility. Mr. Barr visited the property during the 2017 drilling program and again during the 2018 drilling campaign, on July 30-31st, 2018, during which time he observed the drilling, sample collection and preparation, sample logging and sample storage facilities. Mr. Huang visited the Project site on February 5, 2018 and May 3, 2022, as well as visited the Changsha Research Institute of Mining and Metallurgy Co. ("CRIMM") laboratory and pilot plant facility five times between January 20, 2017 and September 20, 2018 to witness sample preparation and test/assay facilities and to discuss the test program and results with CRIMM's technical team. Mr. Huang also visited the SGS Minerals Services (SGS) laboratory on June 29, 2017, and oversaw the bench scale validation test work completed by BGRIMM. Mrs. Marks, Mr. Johns and Mr. Ghaffari also visited the project site on May 3, 2022. Barr, Huang, Ghaffari, Johns and Marks have no economic or financial interest in the Company and consent to the inclusion in this news release of the matters based on their information in the form and context in which it appears.In addition, technical information concerning the Chvaletice Manganese Project is reviewed by Dr. David Dreisinger, P. Eng, a Qualified Person under NI 43-101. Dr. Dreisinger has reviewed and approved the information in this news release for which he is responsible and has consented to the inclusion of the matters in this news release based on the information in the form and context in which it appears.Cautionary StatementThe PEA is a high-level review of potential, is preliminary in nature, and there is no certainty that the economics in the PEA will be realized. The PEA results are not equivalent to, and should not be construed as, a Pre-Feasibility Study or Feasibility Study. Accordingly, investors are reminded that the PEA is considered preliminary in nature and includes estimated costs that are subject to an approximate margin error of plus or minus 35%. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability, and there is no guarantee the Project's resources will eventually be classified as reserves.The projected process plant design, potential production profile and project plan are conceptual in nature and additional technical studies will need to be completed in order to fully assess their viability. There is no certainty that a potential production decision will be made, or that a commercial operation will be achieved.A sensitivity analysis for the Project was carried out to determine the effects of key variables in relation to the post-tax NPV of US$492 million using a real discount rate of 8%. The results of the sensitivity analysis are presented in Table 3 of this announcement. Additional sensitivities from changes in capital and operating costs, recoveries, and metal prices are also included in Table 3.The PEA is also based on the material assumptions outlined in this announcement. These include assumptions about the availability of funding. While EMN considers all of the material assumptions to be based on reasonable grounds, including those related to funding, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the PEA can be achieved.To achieve the range of outcomes indicated in the PEA, funding in the order of approximately US$670.9 million is assumed to be required for initial capital expenditures and working capital. It is anticipated that funding will be sourced through a combination of equity and debt, and possibly other means; however, given that the PEA is considered preliminary in nature, the Company expects to finalize its financing strategy for the Project in conjunction with, or after, the completion of the feasibility study.Investors should note that there is no certainty that EMN will be able to raise that amount of funding when needed. It is also likely that such funding may only be available on terms that may be dilutive to or otherwise affect the fundamental value of EMN's existing shares. It is also possible that the Company could pursue other 'value realisation' strategies such as a sale, partial sale or joint venture of the Project. If such strategies are pursued, it could materially reduce EMN's proportionate ownership of the Project. Given the uncertainties involved, investors should not make any investment decisions based solely on the results of the PEA.Euro Manganese is dual listed on the TSX-V and the ASX. Neither TSX Venture Exchange nor its Regulation Services Provider (as defined by TSXV policies) or the ASX accepts responsibility for the adequacy or accuracy of this release.Authorized for release by the President and CEO of Euro Manganese Inc.Martina BlahovaPresident and CEO+1 (604) 681-1010info@mn25.caJane Morgan ManagementJane MorganInvestor and Media Relations - Australia+61 (0) 405 555 618jm@janemorganmanagement.com.auLodeRock AdvisorsNeil WeberInvestor and Media Relations - North America+1 (647) 222-0574neil.weber@loderockadvisors.com About Euro ManganeseEuro Manganese Inc. (TSXV: EMN) (ASX: EMN) (FSE: E060) is a battery materials company developing the Chvaletice Manganese Project in the Czech Republic, Europe's only near-term source of high-purity manganese, a critical ingredient in next-generation electric vehicles, energy storage batteries and defence applications.The Chvaletice Manganese Project aims to reprocess historic mine tailings to produce high-purity electrolytic manganese metal (HPEMM), and high-purity manganese sulphate monohydrate (HPMSM), establishing a fully traceable, low-carbon supply chain within the European Union.Euro Manganese is positioned to become Europe's first domestic producer of high-purity manganese, meeting the rising demand for sustainable, strategic battery materials while advancing Europe's clean-energy and supply-chain independence goals.Forward-Looking StatementsCertain statements in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company, its Chvaletice Project, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.Forward looking information or statements include all of the results of the PEA, including estimates of internal rates of return (including any pre-tax and after-tax internal rates of return, payback periods, net present values, future production, estimates of cash cost, assumed prices for HPEMM and HPMSM and by-products, proposed extraction plans and methods, operating life estimates, cash flow forecasts, metal recoveries and estimates of capital and operating costs. Forward looking statements also include the possibility for a two-stage construction strategy, and the potential to allow for further optimization of the Project in phase two, with lower upfront capital requirements, and to enhance project economics by aligning investment with cash flow. The Company has based its assumptions and analysis on certain factors that are inherently uncertain, including (i) the adequacy of infrastructure; (ii) the ability to develop adequate processing capacity; (iii) the price of HPEMM and HPMSM and by-products; (iv) the availability of equipment and facilities necessary to complete development; (v) the size of future processing plants and future tailings extraction rates; (vi) the cost of consumables and extraction and processing equipment; (vii) unforeseen technological and engineering problems; (viii) currency fluctuations; (ix) changes in laws or regulations; (x) the availability and productivity of skilled labour; and (xi) the regulation of the mining industry by various governmental agencies.Forward-looking statements also include statements regarding the Company's strategy for its Chvaletice Project, ability to access high purity manganese markets and strategic sectors to which it contributes, including energy transition, grid-scale energy storage, e-mobility and aerospace and defence technologies and sell its products, the ability to complete a feasibility study in 2027, and the Company's ability to navigate current market conditions. In addition, forward-looking statements include statements regarding the Company's next steps including: advancing financing efforts; seeking strategic partners, finalizing product testing, and negotiating offtake agreements with customers; Securing remaining land access; progressing key permits; and pursuing government funding.All forward-looking statements are made based on the Company's current beliefs including various assumptions made by the Company, including that the Chvaletice Project will be developed and operate as planned, the results of the PEA are reliable, that the Company will have sufficient financing to continue operations, and that the Company will be able to meet the conditions of its secured financing. Factors that could cause actual results or events to differ materially from current expectations include, among other things: results from the PEA are not accurate; insufficient working capital; inability to meet the conditions of its secured financing, risks due to granting security, lack of availability of financing for developing and advancing the Chvaletice Project; no available government funding or incentives; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; developments in electric vehicle battery markets and chemistries; risks related to fluctuations in currency exchange rates; and changes in laws or regulations by various governmental agencies. For a further discussion of risks relevant to the Company, see "Risk Factors" in the Company's annual information form for the year ended September 30, 2025, available on the Company's SEDAR+ profile at www.sedarplus.ca.Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297390 Copyright 2026 JCN Newswire via SeaPRwire.com. All rights reserved. www.jcnnewswire.com
Vancouver, British Columbia--(ACN Newswire via SeaPRwire.com - May 14, 2026) - Euro Manganese Inc. (TSXV: EMN) (ASX: EMN) (FSE: E060) and its subsidiary Mangan Chvaletice, s.r.o. ("Mangan" and together the "Company", "Euro Manganese" or "EMN") is pleased to announce the results of a new Preliminary Economic Assessment ("PEA") for the development of its Chvaletice Manganese Project ("Chvaletice Manganese Project", "CMP", or "Project") in the Czech Republic.The PEA is a result of the Company's Optimization Program previously announced1, and builds on the extensive knowledge presented in the Company's Technical Report and Feasibility Study for the Chvaletice Manganese Project, Czech Republic, dated effective July 27, 2022[2], (the "2022 Feasibility Study"). The PEA responds to current market conditions and incorporates the Company's testing campaigns, demonstration plant learnings, and prospective customer testing and feedback to provide an updated preliminary and conceptual development path for the Chvaletice Manganese Project.With most permits secured, a finalized Environmental Impact Assessment ("ESIA"), and official designation as a Strategic Deposit under Czech law and a Strategic Project under the EU Critical Raw Materials Act, Euro Manganese is ready to respond to customers seeking a fully traceable battery-grade manganese supply chain, reducing dependence on Chinese sources and supporting strategic mineral independence objectives.The Chvaletice Manganese Project is well placed to take advantage of U.S. federal procurement and incentive frameworks that increasingly require that critical battery materials — including high-purity manganese used in electric vehicle and energy storage applications — be sourced from allied and US National Defense Act ("NDAA") compliant nations. The Czech Republic, as a NATO member and close U.S. ally, qualifies as an NDAA-compliant source country.HIGHLIGHTS(All economic values are in US dollars unless indicated otherwise)Strong Operating Margin of 48%, demonstrating resilience of the Project and the potential to generate significant returns across commodity price cycles.Robust Returns: Pre-tax IRR of 16.0% and Post-tax IRR of 13.8%, underpinned by a pre-tax NPV of $740M and post-tax NPV of $492M (8% discount rate), showing favorable preliminary economic indicators on historically conservative pricing assumptions.Higher Recoveries, 60% for High-Purity Manganese Sulphate Monohydrate (HPMSM) and 61% for High Purity Manganese Metal (HPEMM), reflecting additional metallurgical test work, operational learnings from the demonstration plant, and process engineering updates.Revised Flowsheet supports 50,000 tpa of HPEMM with full conversion to 150,000 tpa of HPMSM, aligning with battery industry demand while maintaining flexibility to deliver both HPEMM and HPMSM products as customer needs evolve.Newly incorporated magnesium carbonate ("MgCO3") resource as a by-product enables production of up to 20,000 tpa MgCO3, adding incremental value with minimal capital.CAPEX costs remain broadly consistent with the 2022 Feasibility Study, including with increased HPMSM output, despite an inflationary environment.OPEX reduced for per unit cost of HPMSM compared to the 2022 Feasibility Study, due to increased production of HPMSM and updated reagents and energy costs.Updated pricing assumptions demonstrates potential economic viability of the Project even under conservative current market conditions, underscoring its durability through price cycles.Phased development reduces upfront capital requirements, lowers funding risk, and allows further optimization before full-scale expansion.Phase II buildout planned shortly after Phase I commissioning to maximize project value and shareholder returns.Initial Capital, Phase One (50% capacity): $627.5M; Plant Capacity Expansion Capital, Phase Two (to 100% capacity): $197.8M.Annual nominal production: 150,000 tpa HPMSM.Project life: 26 years.Average life of project HPMSM price assumed at $2,888 per tonne.NEXT STEPSThe PEA has enabled the Company to optimize inputs based on current pricing, establishing the possibility for a two-stage construction strategy. This phased approach has the potential to allow for further optimization in phase two, lower upfront capital requirements, and enhance project economics by aligning investment with cash flow.The Company will now advance the Chvaletice Manganese Project further towards a full feasibility study, with a targeted completion in H1 2027.The Company will also continue to monitor high purity manganese markets and strategic sectors to which it contributes, including energy transition, grid-scale energy storage, e-mobility and aerospace and defence technologies.The Company will continue to engage with potential customers to secure additional offtake term sheets, pursue offtake agreements, and continue product testing.In addition, during 2026, the Company is focused on the following key priorities to position the Project for its next development phase by:Advancing the financing strategy by securing funding for Project priorities and progressing strategic financing discussions with potential partners;Completing the acquisition of, or access to, the remaining land surface rights required for full Project development;Strengthening the Project's regulatory foundation through the continuous advancement of permitting, further reducing development risk and demonstrating Project readiness; andMaximizing non-dilutive capital by actively pursuing grants and incentives available from the EU and the Czech state.Martina Blahova, President & CEO of Euro Manganese, commented:"The publication of these PEA results marks another important milestone for the Chvaletice Manganese Project. Our recent optimization work has delivered measurable improvements in recovery, confirming both the strength of our technical strategy and the reliability of our process. To enhance capital efficiency and align investment with market demand, we have adopted a phased construction approach that maximizes value while reducing execution risk. The addition of by-product revenue stream further incrementally strengthens the economics of the project."This disciplined approach, coupled with conservative product pricing assumptions, supports a robust project profile with a strong operating margin of 48%, underscoring the Project's ability to perform through market cycles. Despite the challenging market and pricing conditions, the PEA results demonstrate the strength and resilience of the Project. It provides a clear pathway to unlocking the full long-term value of the Chvaletice Manganese Project as demand accelerates for localized, traceable, and sustainably produced battery grade high purity manganese. We are built to perform in volatile markets, engineered for operational efficiency, and positioned to play a strategic role in securing resource independence and reducing vulnerability amid an increasingly complex global landscape."Rick Anthon, Chairman of Euro Manganese, commented:"As a Board, we are encouraged by the progress reflected in this PEA and confident the Chvaletice Manganese Project can deliver on these terms for its shareholders, customers and stakeholders. The team has advanced the Project with a clear focus on technical rigour, capital efficiency, and responsible development. The phased construction strategy and strengthened economic profile demonstrate a thoughtful approach to building a long-life asset that can scale with market demand."With no operating manganese mines in Europe and as the only integrated high purity manganese producer in Europe and North America, the Chvaletice Manganese Project is uniquely positioned to become a cornerstone of Europe's emerging battery materials supply chain. The Project's strategic relevance, combined with its strong environmental credentials and growing commercial traction, reinforces our confidence in its long-term value. We believe the foundations are now firmly in place for Chvaletice Manganese Project to move toward the next stage of development and deliver meaningful returns for shareholders."PEA SUMMARY AND ECONOMIC ANALYSISThe PEA was completed by Tetra Tech Canada Inc. ("Tetra Tech"). A NI 43-101 technical report on the PEA will be filed under the Company's profile on SEDAR+ within 45 days of this news release and made available on the Company's website. A JORC report will be lodged with the Australian Securities Exchange ("ASX") ASX shortly thereafter.The following summarizes the material assumptions used in, and the results of, the PEA, assuming a targeted start of production in 2032.The Czech corporate income tax rate is 21%. In addition to the royalty of CZK 2,308 per tonne of unit Mn produced, the Czech Republic has various payroll and other taxes to generate revenue.The Company has modeled the economics of this project conservatively from a tax perspective, with a full tax burden, based on Czech legislated tax rates.Investment incentives exist in the Czech Republic and the European Union for certain, qualified investments, including investment tax credits, grants, and accelerated depreciation.The Company is actively pursuing these non-dilutive funding opportunities, including investment tax credits, grants, and accelerated depreciation available under both Czech and EU frameworks.Sensitivity AnalysisA sensitivity analysis for the Chvaletice Manganese Project was carried out to determine the effects of key variables in relation to the post-tax NPV of $492 million at a real discount rate of 8%. The results of the sensitivity analysis are presented in Table 3 below.Initial and Sustaining Capital EstimatesCapital expenditure estimates have been prepared for both initial and sustaining capital. A projected summary timeline of scheduled capital costs is shown in Table 4.The expected initial capital expenditures (Table 4) for the Project, inclusive of capitalized operating startup costs, as estimated by Tetra Tech, as of Q1, 2026, are $627.5 million, including all development-related costs that will be incurred prior to the envisaged commencement of commercial operations. Capital costs incurred after startup are assigned to sustaining capital and are projected to be paid out of operating cash-flows (also see Table 5). Contingencies on initial capital expenditure have been added at appropriate percentages to each component of the Project, excluding capitalized operating costs, resulting in an overall contingency of $66.7 million or 15.5% of direct costs.The Project site is served by excellent existing infrastructure, including rail, highway, a gas pipeline, and water and is adjacent to an operating power plant. The proposed plant site is zoned for industrial use and is the site of the former process plant that produced the Chvaletice tailings.New and refurbished infrastructure that will be built to service the Project include a tailings excavation and handling facility: a south and north site connection utility bridge for transporting tailings slurry, return water pipes and the tube conveyor that returns a mixture of non-magnetic tailings and washed leach residue to the residue dry stacking area; a magnetic separation beneficiation plant; enclosed and winterized process plant buildings and various reagent storage facilities and product warehouse; an upgraded rail spur system with related loading/unloading facilities; an internal road network; an incoming electrical 400kV high voltage grid connection including rectifiers, transformers, GIS switchgear, and local distribution step-down transformers; a process equipment maintenance workshop; a mobile fleet maintenance workshop; spare part and maintenance supply warehouses; a comprehensive water management system, onsite laboratories; and general administrative offices.Operating Cost EstimateOnsite operating costs are expected to average $181.99 per tonne plant feed ($4.14 per kg Mn equivalent) with offsite operating costs estimated to average $31.73 per tonne plant feed ($0.72 per kg Mn equivalent), as shown in Table 5.Resource EstimateTetra Tech was engaged to oversee the planning and execution of sampling and assaying, to prepare the updated Resource Estimate for EMN's Chvaletice Manganese Project, to prepare the Technical Report in accordance with National Instrument 43-101 - Standards and Disclosures for Mineral Projects, and to prepare the independent JORC Code technical report in accordance with the Joint Ore Reserves Committee Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves 2012 Edition ("JORC Code"). The 43-101 Technical Report, entitled "Technical Report and Mineral Resource Estimate for the Chvaletice Manganese Project, Chvaletice, Czech Republic", with an effective date of December 8, 2018 ("the Mineral Resource Estimate"), was filed on SEDAR on January 28, 2019. The corresponding JORC Code technical report with an effective date of December 8, 2018, was lodged on the ASX on February 6, 2019.No additional drilling or data collection pertaining to the technical disclosure of mineral inventory has been undertaken since the completion of the Mineral Resource Estimate, and the effective date for Mineral Resource Estimate is revised to April 27, 2026.The Project's combined Measured and Indicated Resources now amount to 26,960,000 tonnes, grading 7.33% total manganese (tMn) and 5.86% soluble manganese (sMn), as detailed in Table 6 below.PROCESSING FACILITIES DESCRIPTIONTailings Extraction, Residue Storage Facility and ReclamationIn the tailings extraction plan, the three tailings cells will be excavated in a counterclockwise sequence, starting with Cell #3, followed by Cells #1 and #2. Tailings will be extracted using shovel excavators and hauled by truck to an intermediate re-pulping and a covered storage station located between Cells #1 and #2. The storage station will create a 5-day material stockpile. Re-pulped tailings will be fed to the magnetic separation plant via a slurry pipeline on a continuous basis.A filtered blend of non-magnetic tailings and washed leach residue materials from the process plant will be conveyed using a tube conveyor to the storage station and placed and compacted in the Residue Storage Facility (RSF). The excavated area exposed after extraction of the existing tailings will be lined with a geomembrane liner. The RSF will be constructed in stages to suit residue storage requirements and progressively covered to limit the footprint of residue exposed to the air at any given time.RSF design features include a geomembrane lined bottom, perimeter surface water diversion and a contact water collection system that is integrated with the overall site water management system. Dust management includes the implementation of modern dust suppression methods on open faces, interim stack surfaces and haul roads, as required.Progressive reclamation will be undertaken as an integrated part of the residue stacking procedure. The filtered residue cover will consist of a low permeability soil and/or geomembrane cover to inhibit erosion and infiltration, and a growth layer to support vegetation growth.The site is expected to be fully reclaimed and brought back into a productive community to be established in consultation with local communities, regulators and national government agencies. The RSF will be monitored during the post-closure period for geotechnical and environmental performance.High Purity Manganese Products Production FacilityThe processing facilities, including ancillary facilities, for HPMSM production from the CMP tailings were designed by Beijing General Research Institute for Mining ("BGRIMM") together with EMN and Tetra Tech, based on the comprehensive metallurgical test results conducted during the previous PEA and validated through bench scale tests during the feasibility study. Additional metallurgical tests to recover manganese from anode slimes from electrowinning circuit were also conducted to support this PEA.The study was based on the design work completed for the 2022 Feasibility Study which included process circuit and process equipment optimization. Key equipment items were sized and selected based on the FS design by upgrading HPMSM circuit from the nominal capacity of 100,000 t/a to 150,000 t/a. In addition, two additional circuits, one for manganese recovery from anode slimes produced from the electrowinning circuit using reductive leaching and one for sodium and potassium removal from the HPMSM crystallization circuit by incorporating a high-temperature crystallization bypass system. One additional circuit to convert the magnesium carbonate from waste to a saleable by-product is incorporated into the magnesium removal circuit.The CMP process plant has been designed for a nominal nameplate production capacity of 150,000 tonnes per annum of HPMSM by processing approximately 1.1 million tonnes of the historical tailings per year.HPMSM is produced by converting HPEMM flakes produced by electrowinning process without the use of selenium and chromium. This product is expected to best meet the high purity manganese market demand anticipated in current and future battery formulations.The CMP HPMSM product is designed to contain no less than 99.9% high purity manganese sulfate monohydrate and a minimum of 32.34% manganese and will be sold in powder form, produced without the use of fluorine.The dried HPMSM powder product will be packed prior to being shipped in trucks or containers to customers .The process includes following unit circuits:High-intensity wet magnetic separation circuit, upgrading the excavated tailings manganese grade to approximately 15% tMn for acid leaching.Magnetic concentrate sulfuric acid leaching, neutralization to remove impurities and solid-liquid separation.Pregnant leach solution deep purification to further remove heavy metals.Manganese electrowinning to produce high purity HPEMM (high-purity electrolytic manganese metal) flakes using a selenium free process.A magnesium removal process circuit to ensure efficient electrowinning operations and high-quality product and magnesium carbonate produced as a by-product.HPEMM dissolution, solution purification and HPMSM crystallization and drying to produce battery-grade HPMSM for sale.Other supporting circuits, such as ammonium recovery system, water management systems, steam generation. The proposed process flow sheet is illustrated in Figure 1 below.Figure 1: Updated Simplified Process FlowsheetTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/11453/297390_4c2a5f3814e549ad_001full.jpgENVIRONMENTAL IMPACTS, PERMITTING AND COMMUNITY ENGAGEMENTEnvironmental impacts are monitored over the long term as part of the project. The ESIA process was conducted in two phases, supplemented by several expert studies and on-site monitoring. The result of the ESIA process, which involved participation from relevant authorities and the public, is the positive Environmental and Social Binding Statement, which was issued by the Ministry of Environment in March 2024. The ESIA permit is a crucial permit demonstrating that the assessed impacts on individual environmental components and the social sphere are acceptable and that the project is feasible.The assessment results show that the implementation of the project will not worsen existing environmental conditions and will not have negative social impacts. Furthermore, the realization of the project will reduce the identified contamination of groundwater and surface water in the tailings and its vicinity, where the source of the pollution is demonstrably deposited material. As the deposit is of anthropogenic origin and the mined material is a waste-product, this constitutes the reuse or recycling of waste, aligning with the principles of the circular economy. The aim of remediation and reclamation is to create a near-natural area with high biodiversity and stability, which will be used for recreational and sports activities.The ESIA process is followed by a subsequent permitting process when a significant portion of the permits had already been obtained, such as the Permit for the location of the processing plant, the Permit for the location of the rail spur, Product registration under the EU's REACH Regulation, and other permits related to auxiliary activities (utility relocations, grid connection, and others). Another key permit is the Determination of the Mining Lease Permit, which was granted to MANGAN Chvaletice, s.r.o on January 23, 2025; this is another crucial permit which authorizes the company to conduct mining activities. In the following steps, the company will undergo the permitting process stipulated by the Building Act, followed by the final operating permit.In 2026, the Company will continue to advance the permitting process under the Building Act, targeting completion of the final operating permit pathway in line with the feasibility study timeline. Each permitting milestone achieved further reduces Project risk and reinforces the Company's readiness to move into the next phase of development.Key Highlights of the Social Commitment:Significant Economic Catalyst: The Project will act as a primary economic driver in the Pardubice Region, creating 800-1,000 jobs during construction and providing stable, long-term employment for approximately 400 direct staff during operations, with a strong 85% local hiring commitment.Commitment to Transparency: The Project has established a robust engagement framework, including a dedicated public information center in Chvaletice and dedicated digital platforms (project-specific website and online grievance tools).Validated Social Acceptance: On March 27, 2024, the Czech Ministry of the Environment issued a favorable binding ESIA opinion, confirming that the Project meets the highest environmental and social standards. The Project currently faces no material barriers to acceptance, reflecting a strong Social License to Operate.BENEFITS OF PEA AND NEXT STEPSThe PEA enabled the Company to optimize inputs based on current pricing, establishing the possibility for a two-stage construction strategy. This phased approach has the potential to allow for further optimization in phase two, lower upfront capital requirements, and enhance project economics by aligning investment with cash flow. The Company plans to explore this and other avenues to advance the Chvaletice Manganese Project further towards feasibility study, with targeted completion in H1 2027.The Company will also continue to monitor high purity manganese markets and strategic sectors to which it contributes, including energy transition, grid-scale energy storage, e-mobility and aerospace and defence technologies. The Company will continue to engage with potential customers to secure additional offtake term sheets, pursue offtake agreements, and continue product testing.In addition, during 2026, the Company is focused on the following key priorities to position the Project for its next development phase by:Advancing the financing strategy by securing funding for Project priorities and progressing strategic financing discussions with potential partners;Completing the acquisition of, or access to, the remaining land surface rights required for full Project development;Strengthening the Project's regulatory foundation through the continuous advancement of permitting, further reducing development risk and demonstrating Project readiness; andMaximizing non-dilutive capital by actively pursuing grants and incentives available from the EU and the Czech state.Competent and Qualified Person StatementAll production targets for the Chvaletice Manganese Project referred to in this news release are underpinned by estimated Measured and Indicated Mineral Resources prepared by Competent Persons and Qualified Persons in accordance with the requirements of the JORC Code and NI 43 - 101, respectively. Additionally, the scientific and technical information included in this news release, is based upon information prepared, verified, and approved by Mr. James Barr, P. Geo, Senior Geologist, Mr. Jianhui (John) Huang, Ph.D., P. Eng., Senior Metallurgical Engineer, Mr. Hassan Ghaffari, P.Eng, M.A.Sc., Senior Process Engineer, Mr. Chris Johns, P.Eng, Senior Geotechnical Engineer, and Mrs. Maurie Marks, P.Eng, Senior Mining Engineer, all with Tetra Tech. Mr. Barr, Mrs. Marks, Mr. Ghaffari, Mr. Johns, Mr. Hasanloo and Mr. Huang are consultants to, and independent of, EMN within the meaning of NI 43-101, and have sufficient experience in the field of activity being reported to qualify as Competent Persons as defined in the JORC Code, and are Qualified Persons, as defined in NI 43-101. Mr. Barr is responsible for the Mineral Resource Estimate, Mr. Huang is responsible for the metallurgical test work results, process engineering, operating cost and capital cost estimates, environmental studies, permitting, and social or community impact. Mr. Ghaffari is responsible for infrastructure, Mrs. Marks is responsible for mining and financial analysis, Mr. Johns is responsible for design of the residue storage facility. Mr. Barr visited the property during the 2017 drilling program and again during the 2018 drilling campaign, on July 30-31st, 2018, during which time he observed the drilling, sample collection and preparation, sample logging and sample storage facilities. Mr. Huang visited the Project site on February 5, 2018 and May 3, 2022, as well as visited the Changsha Research Institute of Mining and Metallurgy Co. ("CRIMM") laboratory and pilot plant facility five times between January 20, 2017 and September 20, 2018 to witness sample preparation and test/assay facilities and to discuss the test program and results with CRIMM's technical team. Mr. Huang also visited the SGS Minerals Services (SGS) laboratory on June 29, 2017, and oversaw the bench scale validation test work completed by BGRIMM. Mrs. Marks, Mr. Johns and Mr. Ghaffari also visited the project site on May 3, 2022. Barr, Huang, Ghaffari, Johns and Marks have no economic or financial interest in the Company and consent to the inclusion in this news release of the matters based on their information in the form and context in which it appears.In addition, technical information concerning the Chvaletice Manganese Project is reviewed by Dr. David Dreisinger, P. Eng, a Qualified Person under NI 43-101. Dr. Dreisinger has reviewed and approved the information in this news release for which he is responsible and has consented to the inclusion of the matters in this news release based on the information in the form and context in which it appears.Cautionary StatementThe PEA is a high-level review of potential, is preliminary in nature, and there is no certainty that the economics in the PEA will be realized. The PEA results are not equivalent to, and should not be construed as, a Pre-Feasibility Study or Feasibility Study. Accordingly, investors are reminded that the PEA is considered preliminary in nature and includes estimated costs that are subject to an approximate margin error of plus or minus 35%. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability, and there is no guarantee the Project's resources will eventually be classified as reserves.The projected process plant design, potential production profile and project plan are conceptual in nature and additional technical studies will need to be completed in order to fully assess their viability. There is no certainty that a potential production decision will be made, or that a commercial operation will be achieved.A sensitivity analysis for the Project was carried out to determine the effects of key variables in relation to the post-tax NPV of US$492 million using a real discount rate of 8%. The results of the sensitivity analysis are presented in Table 3 of this announcement. Additional sensitivities from changes in capital and operating costs, recoveries, and metal prices are also included in Table 3.The PEA is also based on the material assumptions outlined in this announcement. These include assumptions about the availability of funding. While EMN considers all of the material assumptions to be based on reasonable grounds, including those related to funding, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the PEA can be achieved.To achieve the range of outcomes indicated in the PEA, funding in the order of approximately US$670.9 million is assumed to be required for initial capital expenditures and working capital. It is anticipated that funding will be sourced through a combination of equity and debt, and possibly other means; however, given that the PEA is considered preliminary in nature, the Company expects to finalize its financing strategy for the Project in conjunction with, or after, the completion of the feasibility study.Investors should note that there is no certainty that EMN will be able to raise that amount of funding when needed. It is also likely that such funding may only be available on terms that may be dilutive to or otherwise affect the fundamental value of EMN's existing shares. It is also possible that the Company could pursue other 'value realisation' strategies such as a sale, partial sale or joint venture of the Project. If such strategies are pursued, it could materially reduce EMN's proportionate ownership of the Project. Given the uncertainties involved, investors should not make any investment decisions based solely on the results of the PEA.Euro Manganese is dual listed on the TSX-V and the ASX. Neither TSX Venture Exchange nor its Regulation Services Provider (as defined by TSXV policies) or the ASX accepts responsibility for the adequacy or accuracy of this release.Authorized for release by the President and CEO of Euro Manganese Inc.Martina BlahovaPresident and CEO+1 (604) 681-1010info@mn25.caJane Morgan ManagementJane MorganInvestor and Media Relations - Australia+61 (0) 405 555 618jm@janemorganmanagement.com.auLodeRock AdvisorsNeil WeberInvestor and Media Relations - North America+1 (647) 222-0574neil.weber@loderockadvisors.com About Euro ManganeseEuro Manganese Inc. (TSXV: EMN) (ASX: EMN) (FSE: E060) is a battery materials company developing the Chvaletice Manganese Project in the Czech Republic, Europe's only near-term source of high-purity manganese, a critical ingredient in next-generation electric vehicles, energy storage batteries and defence applications.The Chvaletice Manganese Project aims to reprocess historic mine tailings to produce high-purity electrolytic manganese metal (HPEMM), and high-purity manganese sulphate monohydrate (HPMSM), establishing a fully traceable, low-carbon supply chain within the European Union.Euro Manganese is positioned to become Europe's first domestic producer of high-purity manganese, meeting the rising demand for sustainable, strategic battery materials while advancing Europe's clean-energy and supply-chain independence goals.Forward-Looking StatementsCertain statements in this news release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company, its Chvaletice Project, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.Forward looking information or statements include all of the results of the PEA, including estimates of internal rates of return (including any pre-tax and after-tax internal rates of return, payback periods, net present values, future production, estimates of cash cost, assumed prices for HPEMM and HPMSM and by-products, proposed extraction plans and methods, operating life estimates, cash flow forecasts, metal recoveries and estimates of capital and operating costs. Forward looking statements also include the possibility for a two-stage construction strategy, and the potential to allow for further optimization of the Project in phase two, with lower upfront capital requirements, and to enhance project economics by aligning investment with cash flow. The Company has based its assumptions and analysis on certain factors that are inherently uncertain, including (i) the adequacy of infrastructure; (ii) the ability to develop adequate processing capacity; (iii) the price of HPEMM and HPMSM and by-products; (iv) the availability of equipment and facilities necessary to complete development; (v) the size of future processing plants and future tailings extraction rates; (vi) the cost of consumables and extraction and processing equipment; (vii) unforeseen technological and engineering problems; (viii) currency fluctuations; (ix) changes in laws or regulations; (x) the availability and productivity of skilled labour; and (xi) the regulation of the mining industry by various governmental agencies.Forward-looking statements also include statements regarding the Company's strategy for its Chvaletice Project, ability to access high purity manganese markets and strategic sectors to which it contributes, including energy transition, grid-scale energy storage, e-mobility and aerospace and defence technologies and sell its products, the ability to complete a feasibility study in 2027, and the Company's ability to navigate current market conditions. In addition, forward-looking statements include statements regarding the Company's next steps including: advancing financing efforts; seeking strategic partners, finalizing product testing, and negotiating offtake agreements with customers; Securing remaining land access; progressing key permits; and pursuing government funding.All forward-looking statements are made based on the Company's current beliefs including various assumptions made by the Company, including that the Chvaletice Project will be developed and operate as planned, the results of the PEA are reliable, that the Company will have sufficient financing to continue operations, and that the Company will be able to meet the conditions of its secured financing. Factors that could cause actual results or events to differ materially from current expectations include, among other things: results from the PEA are not accurate; insufficient working capital; inability to meet the conditions of its secured financing, risks due to granting security, lack of availability of financing for developing and advancing the Chvaletice Project; no available government funding or incentives; the potential for unknown or unexpected events to cause contractual conditions to not be satisfied; developments in electric vehicle battery markets and chemistries; risks related to fluctuations in currency exchange rates; and changes in laws or regulations by various governmental agencies. For a further discussion of risks relevant to the Company, see "Risk Factors" in the Company's annual information form for the year ended September 30, 2025, available on the Company's SEDAR+ profile at www.sedarplus.ca.Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297390 Copyright 2026 ACN Newswire via SeaPRwire.com. All rights reserved. www.acnnewswire.com
HONG KONG, May 14, 2026 - (ACN Newswire via SeaPRwire.com) - As search becomes increasingly AI-led and zero-click, brands need new strategies to shape how they appear in answers, not just in links. APAC has emerged as a global leader in AI Search adoption, with 78% of users reporting weekly usage. Increasingly, AI Search Experiences shape brand discovery and consideration before users ever visit a website.In response, global omnichannel media agency Assembly today announced the rollout of Stagwell Search+ in APAC - a new system designed to help brands understand and influence how they are represented across AI-driven search environments.The launch marks a fundamental shift away from treating search as a standalone channel. Instead, Stagwell Search+ operates across a full ecosystem of paid, owned, earned, and shared media, where AI-generated answers determine visibility and performance. This shift is especially complex in APAC, where a fragmented landscape of large language models, spanning multiple languages and cultural contexts, creates inconsistent brand visibility. A brand may appear authoritative in one model while remaining invisible or misrepresented in another, introducing a new and largely unmeasured risk for marketers.Built by Assembly in partnership with emberos, Stagwell Search+ is powered by the industry's first agentic operating system for AI search. The platform continuously monitors how brands appear across models and languages and orchestrates & measures the lift from actions across content, media, and digital channels to improve visibility. Rather than automating changes directly into platforms, the system is designed to guide human decision-making with AI agents - helping teams take precise, strategic action while protecting the quality and integrity of brand experiences.Stagwell Search+ is currently integrated with leading global models from OpenAI, Gemini, Perplexity, Grok, and Anthropic with additional integrations across regional platforms such as DeepSeek planned for later this year."AI is already making brand decisions without marketers in the room - and in APAC, that challenge is amplified by language and cultural complexity," said Yi En Chye, VP of Experience and Activation, APAC. "Success is no longer defined by rankings or clicks, but by a brand's ability to secure share of prompt. Stagwell Search+ gives brands the visibility and control they need to compete in this new environment."ABOUT ASSEMBLYAssembly is a global omnichannel agency built for brands that want a more modern approach to building brands that perform. Backed by the Stagwell network, we are a literal assembly of data, talent, and technology built to unlock smarter, faster, and better-performing outcomes from the bottom up -not the top down. Curious, collaborative, and driven by change, we are an agency of builders who believe the better the experience, the better the performance. We don't see brand and performance as an either/or. For us, it's always both. The + symbol in our logo, known as the ORAD, represents this mindset. It's a mark of how we think, how we build, and how we deliver results across the full funnel. Assembly's foundation is built on three core elements: our purpose-built STAGE Experience Engine, the strategic product it powers-Brand Performance Planning (BPP) - and an organizational design built for speed, depth, and the demands of modern marketing. Together, they enable us to build better brand experiences that reimagine how brands connect, engage, and grow across data, tech, media, creative and commerce. With over 3,000 experts in 44 offices worldwide, Assembly delivers full-funnel solutions that help the world's most ambitious brands perform. Learn more at assemblyglobal.com.ABOUT STAGWELLStagwell is the global challenger network transforming marketing through AI. We deliver scaled creative performance for the world's most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our specialists in 45+ countries are unified under a single purpose: to drive effectiveness and improve business results for our clients. Join us at www.stagwellglobal.com.MEDIA CONTACTKelvin LeeMarketing Director, APACKelvin.lee@assemblyglobal.comSOURCE: Assembly Copyright 2026 ACN Newswire via SeaPRwire.com. All rights reserved. www.acnnewswire.com
香港, 2026年5月14日 - (亚太商讯 via SeaPRwire.com) - 近年来，在政策持续护航、技术快速迭代及市场需求升级的多重驱动下，自动驾驶行业迎来黄金发展周期，持续引领产业变革与升级，成为人工智能与实体经济深度融合的核心赛道，孕育着巨大的发展机遇。5月12日，自动驾驶行业领先企业驭势科技（北京）股份有限公司（"驭势科技"或"公司"，股份代号：1511.HK）正式启动招股，赴港上市进程迈出关键一步，不仅标志着公司将迈入资本赋能的全新发展阶段，更将为L4级自动驾驶行业的商业化落地注入强劲动能。据悉，驭势科技是大中华区专注于无人化L4级技术的自动驾驶解决方案供应商，公司深耕自动驾驶领域十年，依托自主研发的U-Drive®智能驾驶平台，构建了覆盖感知、决策、控制全链条的核心技术体系，可灵活满足多场景、高级别的自动驾驶应用需求，筑牢技术壁垒。驭势科技自动驾驶解决方案拥有全场景通用适配能力，已规模化落地各类开放及封闭应用场景，覆盖机场、厂区、物流、营运及机动车辆等多元领域，同时囊括L2级至L4级全谱系自动驾驶级别，实现技术与应用场景深度融合，场景适配与落地能力行业领先。其中，公司在机场、工业园区等封闭核心赛道稳居行业龙头地位，依托传统封闭场景的先发优势与技术积淀，正稳步向外拓展，加速布局全域开放场景，构建全维度自动驾驶业务版图。凭借深厚的技术积累与精准的市场布局，驭势科技建立了稳固的行业地位。根据弗若斯特沙利文的资料，公司于2025年按收益计在大中华区封闭场景中商用车L4级自动驾驶解决方案市场的市场份额达3.1%，彰显了公司在核心细分领域的绝对领先优势。全场景深度布局，筑牢行业龙头地位在机场领域，驭势科技实现了行业突破性发展。根据弗若斯特沙利文的资料，公司是唯一一家为全球机场提供大型商业营运L4级自动驾驶解决方案的供应商，率先实现机场场景"去安全员"商业化运营。目前，公司已成功在香港国际机场部署无人电动牵引车、无人接驳车和无人巡逻车及相关软硬件，高效完成无人行李及货物牵引、旅客接驳、机场巡逻等核心服务，获得市场高度认可与赞誉。截至最后可行日期，公司已与17个中国机场及3个海外机场展开深度合作，同时公司一直在积极探索与中国及全球4个机场的合作机会，持续巩固在机场运输领域的领先地位，充分展现了解决方案及服务的可扩展性及适配性。在厂区领域，驭势科技聚焦无人化物流痛点，提供端到端无人化物流解决方案，成功实现从室内到室外、从室外到室内对原材料、样品、零件、半成品及制成品的全流程无人化交付，实现从受控厂区环境向开放道路应用的延伸，为产业物流升级提供了全新路径。在室内运作方面，公司的无人车无需依赖GPS，通过场景记忆技术实现精准作业；在室外运作方面，无人车可适应多种交通工况及全天候环境，具备极强的环境适应性。根据弗若斯特沙利文的资料，于2025年，公司成为提供可实现室内室外自主运作自动驾驶解决方案的最大L4级自动驾驶解决方案供应商之一，解决方案及服务广泛覆盖汽车、化工、光伏及锂电池制造等多个行业，为各行业客户降本增效、提升运营安全性提供了有力支撑。除已实现规模化落地的机场及厂区场景外，驭势科技还通过自动驾驶套件解决方案，将自动驾驶应用场景持续拓展至城市道路、港口、矿山、农场及牧场等多元领域，并将通用技术延伸到乘用车高阶智驾，获得头部主机厂的持续青睐，逐步构建起全场景自动驾驶生态，为未来发展开辟了更广阔的空间。技术引领口碑彰显，业绩稳步迈入增长通道依托全栈自研的核心技术、全场景的解决方案及成熟的商业化落地能力，驭势科技获得市场广泛认可，商业化落地成效显著。截至最后可行日期，公司已为6个国家及地区的249名客户部署解决方案及服务，其中包括35家《财富》中国及世界500强企业，技术实力、安全管控与品质标准均已达全球头部客户要求，并建立完善的数据合规管理体系，客户群体横跨多元行业领域，为公司持续发展奠定了坚实的客户基础。行业认可度持续提升的同时，驭势科技斩获多项重磅荣誉，先后入选福布斯中国最具创新力企业榜、《财富》中国最具社会影响力的创业公司及毕马威中国领先汽车科技企业50强，亦获《胡润百富》评为全球独角兽企业、《科创板日报》评为科创好公司。尤为值得一提的是，公司于2021年荣获国家重点专精特新"小巨人"企业称号，充分彰显了公司在技术创新与行业影响力方面的突出实力，成为行业创新发展的标杆。得益于行业政策红利持续释放、核心技术不断迭代升级及商业化规模稳步扩大，驭势科技近年来业绩保持稳步增长，展现出强劲的发展韧性与增长潜力。财务数据显示， 2023年至2025年公司营收从1.61亿元增至3.28亿元，同期，公司毛利从0.79亿元增至1.68亿元，2023-2025年复合增长率约42.7%，2022至2025年四年总营收增长超4倍，盈利能力持续提升，彰显了良好的经营质量。 总体而言，中国AI企业的未来蓝海与星辰大海，从来不止局限于国内市场，更在于走向全球、深耕国际舞台。驭势科技凭借硬核产品实力、完备的行业资质认证、成熟严苛的质量管理体系，以及完善的数据合规架构与全方位本地化服务体系，已获得全球行业顶尖客户的高度认可与深度信赖。未来，随着赴港上市的稳步推进，公司将借助资本的力量，持续加大技术研发投入，拓展更多应用场景，深化全球市场布局，推动公司业绩增长再上新台阶，其长期成长潜力值得市场高度期待。 Copyright 2026 亚太商讯 via SeaPRwire.com. All rights reserved. www.acnnewswire.com
Lucasfilm(SeaPRwire) - 你忘记阿索卡·塔诺（罗莎里奥·道森饰）曾有望引领《星球大战》传奇进入一个全新且激动人心的阶段，这情有可原。她的首部个人冒险作品多年前在 Disney+ 上线，尽管它承诺将延续我们在Rebels中熟悉并喜爱的角色的冒险故事，将他们的战斗带入真人版，并最终搬上大银幕。但《阿索卡》并非我们所期望的一切，也没有开启 Lucasfilm 悄悄规划的新时代。这并不意味着这些计划被彻底取消——但它们显然被搁置了。Ahsoka第二季原暂定2026年上映，但这个时间窗口后来被推迟了整整一年。道森在2026年5月12日的迪士尼Upfront展示会上宣布了该剧的新上映日期。据这位女演员透露，Ahsoka预计将于“2027年初”回归。无论这个日期落在日历上的哪个位置（有人说是4月，也有人希望更早），距离2023年上线的Ahsoka’s第一季仍将整整间隔四年。如今等待剧集更新是常有的事，但Lucasfilm确实在挑战粉丝合理等待的极限。据报道，第二季的拍摄已于2025年10月完成，所以进一步推迟的想法坦率地说有点令人困惑。对于一部只有八集、每集30分钟的剧集来说，到底可能是什么原因导致延误呢？索龙的荣耀回归又被推迟了一年。| Lucasfilm对于Ahsoka来说，答案可能有两个方面。自从第一季在Disney+上线以来，该剧导演——同时也是阿索卡·塔诺相关一切的专家——戴夫·菲洛尼被提升为Lucasfilm的联合总裁。这意味着他现在比以前忙得多。他不仅要在真人剧和Maul – Shadow Lord等动画剧之间分配精力，还要在所有剧集和The Mandalorian and Grogu等大银幕作品之间兼顾。更糟的是，他从一开始就是Ahsoka背后唯一的创意力量，独自撰写每一集。如果菲洛尼的注意力分散，编剧室本可以派上用场，但他坚持自己撰写每一集的做法可能是导致这次延误的重要原因。Ahsoka第二季还有一个更大的冲突问题。第一季以帝国元帅索龙（拉斯·米克尔森饰）的正式回归结束，他打算团结银河帝国的残余势力，一劳永逸地粉碎新共和国。尽管阿索卡和她的学徒萨宾·雷恩（娜塔莎·刘·波尔多饰）被困在遥远的星系，但新共和国的军队不会不战而降。去年，菲洛尼将Ahsoka第二季比作“一部战争电影”，这也可以解释延误的原因。电影级别的战斗需要更强大的视觉效果——据这位电影制作人说，这些效果现在才刚刚到位。Ahsoka Season 2 will be much bigger than the last — but will the wait be worth it? | Lucasfilm在最近接受ScreenRant采访时，菲洛尼透露Ahsoka的后期制作现已开始。“我现在正在同时编辑所有剧集，并与团队深入处理视觉效果，”他说。“有很多事情需要解决和弄清楚，但这很正常。我很期待人们看到它……一切都按计划进行。”希望菲洛尼那种绝地武士般的冷静能感染粉丝群体。即使是那些一直支持《Ahsoka》的人，现在也可能开始对这部剧失去信心；很多其他粉丝对第一季感到失望，可能需要大量的说服才能观看新篇章。无论你是Ahsoka的死忠粉还是坚定的怀疑者，四年的等待都太长了。但菲洛尼所说的“一切都按计划进行”可能有一点道理——我们只能再等一年才能知道答案。Ahsoka Season 1 is streaming on Disney+.本文由第三方内容提供商提供。SeaPRwire (https://www.seaprwire.com/)对此不作任何保证或陈述。
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