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North Atlantic France SAS provides updates on the contemplated acquisition of a majority stake in Esso Société Anonyme Française SA

Paris, France, Nov. 10, 2025 (GLOBE NEWSWIRE) —

North Atlantic France SAS provides updates on the contemplated acquisition of a majority stake in Esso Société Anonyme Française SA 

  • Turkish antitrust clearance obtained; transaction remains subject to French direct foreign investment authorization and EU Foreign Subsidies clearance
  • Transaction target closing date set for November 28, 2025
  • Esso S.A.F. shareholders approved extraordinary distribution of €60.21 per share
  • Assuming a closing on November 28, 2025, final purchase price of €26.19 per Esso S.A.F. share for the acquisition of the ExxonMobil block of shares and €28.93 per Esso S.A.F. share in the context of the tender offer
  • Esso S.A.F. to be renamed “North Atlantic Energies” upon completion of the transaction

Paris, FRANCE, November 10, 2025 – North Atlantic France SAS (“North Atlantic”) refers to its announcements dated May 28, 2025, September 24, 2025 and October 6, 2025 with respect to the contemplated acquisition from ExxonMobil France Holding SAS (“ExxonMobil”) of ExxonMobil’s entire stake in Esso Société Anonyme Française SA (“Esso S.A.F.”) and in ExxonMobil Chemical France SAS (the “Transaction”).

Regulatory approvals and expected closing timeline

North Atlantic has obtained Turkish antitrust clearance and continues to pursue the remaining regulatory approvals, namely the foreign investment prior authorization from the French Ministry of Economy and the decision of the European Commission under the EU Foreign Subsidies Regulation.

Subject to obtaining these approvals and finalizing certain financing arrangements, North Atlantic and ExxonMobil currently expect to close the Transaction on November 28, 2025.

Block acquisition purchase price of €26.19 per share assuming a closing on November 28, 2025

On October 6, 2025, North Atlantic announced that the price per Esso S.A.F. share of €149.19 would be reduced to €85.18 reflecting (i) a €11.01 downward adjustment for the change in the euro value of Esso S.A.F.'s inventory relative to its value as of December 31, 2024 and (ii) a €53.00 downward adjustment corresponding to the ordinary dividend and the extraordinary dividend paid by Esso S.A.F. on July 10, 2025.

In addition, taking into account the €60.21 per share extraordinary distribution to be paid on November 14, 2025 by Esso S.A.F., following shareholder approval obtained on November 4, 2025 at Esso S.A.F.’s Combined General Meeting, the €85.18 price per share will be further reduced to €24.97.

     Assuming a closing on November 28, 2025, North Atlantic and ExxonMobil have agreed to definitively settle between themselves, on a lump–sum basis, the amount of the price adjustments provided for in the Share Purchase Agreement and to set the price per share to be paid to ExxonMobil at €26.19.1

     On this basis, the price to be paid to Esso S.A.F.’s minority shareholders in the mandatory tender offer for the remaining Esso S.A.F. shares that North Atlantic intends to file before the end of the year is set at €28.932 per share, corresponding to a difference of approximately 10.46% over the price per share paid to ExxonMobil.

Change of corporate name of Esso S.A.F

As resolved at Esso S.A.F.’s Combined General Meeting on November 4, 2025 and subject to completion of the Transaction, Esso S.A.F. will be renamed “North Atlantic Energies.”

North Atlantic reiterates its commitment to delivering a comprehensive and well–managed transition, with the intention to maintain employment and existing compensation and benefits.

MEDIA CONTACTS

France: Brunswick Group – [email protected]
Hugues Boëton: +33 6 79 99 27 15
Paul Priam: +33 6 84 39 09 89

Canada: Mark Duggan – [email protected]
+1–709–687–3136

ABOUT NORTH ATLANTIC
For nearly four decades, North Atlantic has been a market leader in the retail gas and convenience sector, as well as the residential, commercial, and wholesale fuel industries in Newfoundland and Labrador. Recently, through a joint venture with Suncor Energy, North Atlantic expanded its retail division into Nova Scotia and Prince Edward Island, through North Sun Energy. As managing partner, North Atlantic operates 110 fuel retail sites across all three provinces. North Atlantic has ambitious plans for future growth and development in strategic locations across the region.

Known for its expertise in acquiring and delivering exceptional products, North Atlantic caters to both domestic and industrial sectors while also serving global clients through their marine bunkering distribution channels.

North Atlantic is committed to strategic growth to deliver innovative and green energy solutions aligned with evolving global needs. By driving industry progress, North Atlantic is supporting new skills and new jobs for this dynamic landscape. North Atlantic remains committed to providing exceptional energy, fuel and convenience retail initiatives that enhance customer experience while fostering economic growth in the communities they serve in Canada and beyond.

1 For the avoidance of doubt, if closing does not occur on November 28, 2025, the price per share to be paid to ExxonMobil will have to be recalculated in accordance with the terms and conditions of the Share Purchase Agreement entered into between ExxonMobil and North Atlantic on September 24, 2025. These adjustments are described in the press release issued by North Atlantic on 6 October 2025. As a reminder (excluding the adjustment referred to in note 2 below, which does not affect the price paid as part of the tender offer), these adjustments relate to:

  • an upward adjustment by a ticking fee mechanism corresponding to accrued interest on (i) a first base amount of €362,000,000 at an interest rate based on the euro short–term rate (ESTR) plus 2% per annum between March 2, 2025 (included) and the closing date (excluded), and (ii) a second base amount of €950,000,000 at a rate of 2.4% per annum between March 2, 2025 (included) and the closing date (excluded);
  • an upward adjustment reflecting an after tax impact amount of (i) the sale to the ExxonMobil group of Esso S.A.F.’s lubricants and specialties marketing business for an estimated price of €8 million (including €3 million for inventories, to be further adjusted at the closing date) and (ii) the sale to the ExxonMobil group of certain trademarks and other intellectual property rights of Esso S.A.F. for an amount of €20 million.

2 This price difference results from the exclusion, with regard to the price paid to the minority shareholders, of the impact of the downward adjustment on the price payable to ExxonMobil with respect to losses relating to post–closing social liabilities as previously announced on September 24, 2025.


GLOBENEWSWIRE (Distribution ID 9572706)

North Atlantic France SAS apporte des éléments d’actualisation liés à son projet d’acquisition d’une participation majoritaire dans Esso Société Anonyme Française SA

Paris, France, 10 nov. 2025 (GLOBE NEWSWIRE) —

North Atlantic France SAS apporte des éléments d’actualisation liés à son projet d’acquisition d’une participation majoritaire dans Esso Société Anonyme Française SA 

  • Autorisation en matière de concurrence obtenue en Turquie ; l’opération reste soumise à l'autorisation en matière d'investissements directs étrangers des autorités françaises et à l'autorisation en matière de subventions étrangères de la Commission européenne
  • La date cible de réalisation de la transaction est fixée au 28 novembre 2025
  • Les actionnaires d’Esso S.A.F. ont approuvé la distribution exceptionnelle de 60,21 € par action
  • En cas de réalisation de la Transaction le 28 novembre 2025, le prix d’acquisition final sera de 26,19 € par action Esso S.A.F. au titre de l’acquisition du bloc d’actions détenu par ExxonMobil et de 28,93 € par action Esso S.A.F. dans le cadre de l’offre publique
  • Esso S.A.F. sera renommée « North Atlantic Energies » dès la réalisation de la transaction

Paris, FRANCE, 10 novembre 2025 – North Atlantic France SAS (« North Atlantic ») rappelle ses précédentes annonces en date du 28 mai 2025, du 24 septembre 2025 et du 6 octobre 2025 concernant le projet d'acquisition auprès d’ExxonMobil France Holding SAS (« ExxonMobil ») de l’intégralité des participations d’ExxonMobil dans Esso Société Anonyme Française SA (« Esso S.A.F. ») et dans ExxonMobil Chemical France SAS (la « Transaction »).

Autorisations réglementaires et calendrier de réalisation de la Transaction envisagé

North Atlantic a obtenu l'autorisation des autorités de concurrence turques et poursuit ses démarches pour obtenir les autorisations réglementaires restantes, à savoir l'autorisation préalable en matière d'investissements étrangers du Ministère français de l'Économie et la décision de la Commission européenne en vertu du règlement européen sur les subventions étrangères.

Sous réserve de l'obtention de ces autorisations et de la finalisation de certains accords de financement, North Atlantic et ExxonMobil prévoient actuellement de réaliser la Transaction le 28 novembre 2025.

Prix d’acquisition du bloc de 26,19 € par action en cas de réalisation de la Transaction le 28 novembre 2025

Le 6 octobre 2025, North Atlantic a annoncé que le prix par action Esso S.A.F. de 149,19 € serait ramené à 85,18 €, reflétant (i) un ajustement à la baisse de 11,01 € correspondant au changement dans la valeur en euros du stock d’Esso S.A.F. par rapport à sa valeur au 31 décembre 2024 et (ii) un ajustement à la baisse de 53,00 € correspondant au dividende ordinaire et au dividende exceptionnel versés par Esso S.A.F. le 10 juillet 2025.

En outre, compte tenu de la distribution exceptionnelle de 60,21 € par action qui sera versée le 14 novembre 2025 par Esso S.A.F., à la suite de l’approbation des actionnaires obtenue le 4 novembre 2025 lors de l’assemblée générale mixte d’Esso S.A.F., le prix de 85,18 € par action sera réduit à 24,97 €.

En cas de réalisation de la Transaction le 28 novembre 2025, North Atlantic et ExxonMobil ont convenu d’arrêter définitivement entre eux, de manière forfaitaire, le montant des ajustements de prix prévus au contrat de cession et de fixer le prix par action versé à ExxonMobil à 26,19 €1.

     Sur cette base, le prix qui serait payé aux actionnaires minoritaires d'Esso S.A.F. dans le cadre de l'offre publique d’achat obligatoire sur les actions restantes d'Esso S.A.F. que North Atlantic entend déposer avant la fin de l’année s’établit à 28,93 €2 par action, soit une différence d’environ 10,46 % par rapport au prix par action payé à ExxonMobil.

Changement de la dénomination sociale d’Esso S.A.F

Conformément à la décision prise lors de l'assemblée générale mixte d'Esso S.A.F. le 4 novembre 2025 et sous réserve de la réalisation de la Transaction, Esso S.A.F. sera renommée « North Atlantic Energies ».

North Atlantic rappelle s’être engagée à assurer une transition complète et bien gérée, avec l’intention de maintenir l’emploi, les rémunérations et avantages existants.

CONTACT MÉDIA
France : Groupe Brunswick – [email protected]
Hugues Boëton : 06 79 99 27 15
Paul Priam : 06 84 39 09 89

Canada : Mark Duggan – [email protected]
1–709–687–3136

À PROPOS DE NORTH ATLANTIC

Depuis près de quatre décennies, North Atlantic est un leader dans le secteur des carburants et des stations–service, opérant également pour les segments résidentiel, commercial ainsi que la vente en gros de carburant à Terre–Neuve–et–Labrador. Récemment, dans le cadre d’une joint–venture avec Suncor Energy, North Atlantic a étendu la présence de ses stations–service à la Nouvelle–Écosse et à l’Île–du–Prince–Édouard, par l’intermédiaire de North Sun Energy. Le groupe North Atlantic exploite plus de 110 stations–service dans les trois provinces. North Atlantic dispose de projets ambitieux de croissance et de développement dans des localisations stratégiques au Canada.

Reconnu pour son expertise dans l’achat et la vente de produits de grande qualité, North Atlantic s’adresse à la fois aux secteurs domestique et industriel, tout en desservant des clients internationaux par le biais de ses canaux de distribution de soutage maritime.

North Atlantic prévoit de poursuivre sa croissance stratégique afin d’offrir des solutions énergétiques innovantes et vertes adaptées à l’évolution des besoins mondiaux. En stimulant les progrès de l’industrie, North Atlantic favorise l’acquisition de nouvelles compétences et la création de nouveaux emplois dans ce paysage dynamique. North Atlantic demeure engagé à proposer des produits et des services (énergie, essence et stations–service) de grande qualité au service de l’amélioration de l’expérience client tout en favorisant la croissance économique dans les collectivités qu’elle dessert au Canada et à l’étranger.

1 Afin d'éviter toute ambiguïté, si la réalisation de la Transaction n'a pas lieu le 28 novembre 2025, le prix par action à verser à ExxonMobil devra être recalculé conformément aux termes et conditions du contrat d’acquisition d'actions conclu entre ExxonMobil et North Atlantic le 24 septembre 2025. Ces ajustements sont décrits dans le communiqué de presse publié par North Atlantic le 6 octobre 2025. Pour mémoire (en excluant l’ajustement visé à la note 2 ci–après qui n’affecte pas le prix payé dans le cadre de l’offre), ces ajustements concernent :

  • un ajustement à la hausse résultant du mécanisme de ticking fee correspondant aux intérêts courus sur (i) un premier montant de base de 362 000 000 € à un taux d’intérêt fondé sur le taux à court terme de l’euro (ESTR) majoré de 2 % par an entre le 2 mars 2025 (inclus) et la date de clôture (exclue), et (ii) un second montant de base de 950 000 000 € à un taux de 2,4 % par an entre le 2 mars 2025 (inclus) et la date de clôture (exclue).
  • un ajustement à la hausse reflétant un montant net d’impôt de (i) la cession au groupe ExxonMobil de l’activité de commercialisation des lubrifiants et spécialités d’Esso S.A.F. pour un prix estimé de 8 millions d’euros (dont 3 millions d’euros au titre des stocks, à ajuster de nouveau à la date de clôture) et (ii) la cession au groupe ExxonMobil de certaines marques et autres droits de propriété intellectuelle d’Esso S.A.F. pour un montant de 20 millions d’euros.

2 Cette différence de prix résulte de l’exclusion, s’agissant du prix payé aux actionnaires minoritaires, de l'impact de l'ajustement à la baisse du prix payable à ExxonMobil au titre des pertes liées aux passifs sociaux postérieurs à la date de réalisation, comme précédemment annoncé le 24 septembre 2025.


GLOBENEWSWIRE (Distribution ID 9572706)

Al Tamimi & Company Advises Global Infrastructure Partners on Landmark US$11 Billion Investment in Saudi Arabia’s Jafurah Gas Processing Facilities

RIYADH, Saudi Arabia, Nov. 10, 2025 (GLOBE NEWSWIRE) — Al Tamimi & Company has advised Global Infrastructure Partners (GIP), a BlackRock investment fund, on its acquisition of a 49% interest in the Jafurah gas processing facilities in Saudi Arabia from Aramco, through an investment in Jafurah Midstream Gas Company. The transaction, valued at US$11 billion, represents a significant milestone in the development of Saudi Arabia’s energy infrastructure and was announced during the Future Investment Initiative (FII) in Riyadh.

Al Tamimi & Company acted as Saudi counsel to GIP, working alongside Slaughter and May, with White & Case advising Aramco.

This marks the second major energy transaction in Saudi Arabia on which Al Tamimi & Company has advised GIP, following its previous role in the US$15 billion acquisition of a 49% interest in Aramco’s gas pipeline network.

The transaction was led by Al Tamimi & Company’s teams in Riyadh and Al Khobar. The Corporate team (Al Khobar) included Grahame Nelson, Jonathan Reardon, Alanood Allhaib, Anfal AlHudaib, Zain Zainalabedin, Khalid AlMubarak, and Rewa Al Dobas. They were supported by the Tax team (Riyadh) comprising Richard Ferrand, Shiraz Khan, and Jad Khazaal, and the Banking team (Riyadh) of Rafiq Jaffer and Aurangzeb Maqsood.

“This transaction underscores Al Tamimi & Company’s capability to advise on complex, high–value energy and infrastructure projects in the Kingdom,” said Grahame Nelson, Partner, co–head of Al Khobar office. “We are proud to have supported GIP on another landmark investment that contributes to Saudi Arabia’s energy transition and long–term growth.”

About Al Tamimi and Company

Al Tamimi and Company is the leading full–service law firm in the UAE and MENA region, with 17 offices across 10 countries. Since 1989, we have delivered innovative, cost–effective legal solutions to address complex business challenges.

Our team of 580+ legal professionals combines deep expertise with practical insights, offering commercially focused advice that drives client success. With a commitment to diversity and inclusion, we foster a dynamic environment that attracts top talent and empowers us to deliver outstanding results across industries.

Media Contact
Hadi Ayedh
Public Relations and Communications Manager
+971505490461
[email protected] 


GLOBENEWSWIRE (Distribution ID 1001138063)

Tres Thompson joins Meltwater as Chief Financial Officer

SAN FRANCISCO, Nov. 10, 2025 (GLOBE NEWSWIRE) — Meltwater, a leading global provider of media, social, and consumer intelligence, today announced the appointment of Tres Thompson as Chief Financial Officer (CFO). With over 35 years of experience in accounting, finance, and operational leadership within both privately held and publicly traded technology companies, Thompson brings a wealth of expertise to the Meltwater Executive Team.

Most recently, Thompson served as CFO of HighRadius, a global SaaS company specializing in AI solutions for the office of the CFO. Prior to that, he held the position of CFO at Velsera, a health technology company, and was CFO and COO at Symplr, a SaaS platform serving the healthcare industry. Tres brings significant experience leading high–growth, private–equity backed organizations to successful exits, as well as M&A and integration expertise, to his new role at Meltwater. 

“I’m excited to join Meltwater at such a dynamic moment in the company’s growth journey,” said Tres Thompson, CFO of Meltwater. “The products, the people and the history of profitable growth create incredible opportunities to continue to scale, drive operational excellence and create long–term value.”

“Tres brings deep financial and operational experience that will be instrumental as we continue to drive sustainable growth at Meltwater,” said John Box, CEO of Meltwater. “His track record and history of results at high–growth, global SaaS organizations make him a strong addition to our leadership team.”

Thompson will lead Meltwater’s global central operations and finance organizations, overseeing financial strategy, operations, and investor relations as the company continues to strengthen its position as a leader in AI–powered media and social intelligence.

For more information, please contact:

Kelly Costello  
Corporate Communications Director  
[email protected] 

About Meltwater

Meltwater empowers companies with a suite of solutions that spans media, social, consumer, and sales intelligence. By analyzing approximately 1 billion pieces of content each day and transforming them into vital insights, Meltwater unlocks the competitive edge to drive results. With 27,000 global customers, 50 offices across six continents, and 2,300 employees, Meltwater is the industry partner of choice for global brands making an impact. Learn more at meltwater.com. 


GLOBENEWSWIRE (Distribution ID 9572473)

Yili Reports Dual Growth in Revenue and Net Profit for First Three Quarters of 2025; Overseas Ice Cream and Infant Goat Milk Formula Maintain Strong Momentum

HOHHOT, China, Nov. 10, 2025 (GLOBE NEWSWIRE) — Building on the robust performance reflected in its interim results, Yili Group has delivered another impressive set of results. On October 30, 2025, Inner Mongolia Yili Industrial Group Co., Ltd. (SHA: 600887) released its third–quarter report for 2025. For the first nine months of the year, the company achieved dual growth in both revenue and net profit: total revenue reached 90.564 billion yuan, up 1.71% year–over–year, while its adjusted net profit attributable to owners of the parent surpassed 10 billion yuan for the first time, reaching a record high of 10.103 billion yuan – an 18.73% year–over–year increase – demonstrating sustained improvement in the profitability of its core businesses.

Yili reports dual growth in revenue and net profit for first three quarters of 2025

A Media Snippet accompanying this announcement is available by clicking on this link.

Across all product categories, Yili maintained its leadership position during the reporting period. Its foundational liquid milk business remained the undisputed market leader, further widening its scale advantage. Premium brands such as Satine and AMBPOMIAL continued to drive high–quality growth, with both revenue and market share in the chilled plain milk segment increasing.

Yili's second growth engine showed strong momentum. Following its historic achievement in the first half of the year – becoming China's top–selling infant formula brand and securing the “grand slam” across all formula categories – the company's infant nutrition business has continued to strengthen, further expanding its market share. In the first three quarters, revenue from milk powders and related dairy products reached 24.261 billion yuan, a new record high, up 13.74% year–over–year. Yili's overall infant formula sales volume remained number one in the Chinese market, solidifying its industry–leading position.

The ice cream segment also delivered strong results, generating 9.428 billion yuan in revenue during the period, a 13% year–over–year increase, marking its 30th consecutive year as China's market leader. Notably, the “Fresh Milk Mung Bean Ice Cream,” co–developed by Yili and Sam's Club, became a summer blockbuster, topping Sam's frozen dessert category and earning the nickname “King of Beans.”

Meanwhile, Yili accelerated its global expansion. Following the successful launches of Jinlingguan and Cremo in Hong Kong SAR and Saudi Arabia, the Satine brand entered the Singapore market in September, quickly gaining consumer favor with its premium “organic and healthy” positioning. During the reporting period, overseas operations performed exceptionally well, with core categories such as ice cream and infant goat milk formula achieving high–growth trajectories, serving as key drivers of Yili's global business expansion.

Beyond exporting products, Yili is also sharing Chinese dairy innovation with the world, paving new pathways for global dairy development.

On October 22, Yili won two International Dairy Federation (IDF) Dairy Innovation Awards，making it the most awarded dairy company worldwide and the only Chinese dairy company to receive honors this year. Its bone–health–focused Xinhuo Bone Energy Formula Milk Powder, co–developed with Beijing Tongrentang, was recognized with the “Dairy Product Innovation Award in Human Nutrition.” The product addresses key health concerns related to bone, joint, and muscle wellness among Chinese consumers through a unique blend of “traditional Chinese dietary wellness” and “precision nutrition,” earning international acclaim. Additionally, AMBPOMIAL's limited–edition eco–friendly packaging under the “For a Bluer Ocean” initiative received the “Innovation in Packaging and Transparency for Dairy Products,” offering the industry a systematic solution for sustainable packaging.

Source: Yili Group


GLOBENEWSWIRE (Distribution ID 9572462)

Namib Minerals – Production and Operational Update

HARARE, Zimbabwe, Nov. 10, 2025 (GLOBE NEWSWIRE) — Namib Minerals (Nasdaq: NAMM) (“Namib Minerals” or the “Company”) today provided an operational update, including production guidance for 2025 and an overview of its mandate to WSP Global Inc. (“WSP”).

2025 Operational Guidance

The Company expects 2025 to continue as a year of grade consolidation and optimization at its flagship How Mine operation. Based on current mine plans and market conditions, the Company anticipates the following ranges:

Metric 2025 Guidance Range
Production (oz) 24,000 – 25,000
Adjusted EBITDA (US$ millions) 22 – 26
All–in Sustaining Cost (AISC US$/oz) 2,700 – 2,800

The 2025 focus at How Mine remains on stabilizing grade performance and completing throughput–capacity improvements. These improvements are expected to yield geared production and grades in the upcoming year. Furthermore, the Company continues advancing early–stage restart preparation work at Redwing Mine and Mazowe Mine.

Pathway to Resource and Production Expansion
Namib Minerals is pursuing a phased, technically driven growth plan designed to transform the Company from a single–asset producer into a multi–asset operator. The Company has in the past informed investors of its objective to recommence operations at Mazowe Mine and Redwing Mine. These restarts represent the first phase of the Company’s pathway to expansion and have commenced with the appointment of WSP. WSP has been appointed to begin feasibility studies at both mines simultaneously.

The Company appointed WSP not only for its expertise but also the firm’s understanding and familiarity with the Company’s assets. The Company’s objective is to align the future production levels of Redwing Mine and Mazowe Mine with their respective resource sizes therein increasing their production capacities.

WSP have been mandated to verify the Company’s ability to meet this strategic objective. WSP have been mandated to execute a SK–1300 compliant feasibility study on the following terms, amongst others –

Feasibility Studies — 12 to 18 Months

  • These studies will validate our exploration program to increase, convert and upgrade these resources.
  • The program is expected to be completed over 12 to 18 months and will provide the technical foundation for reserve conversion, permitting, and financing discussions.

In conjunction with the feasibility studies, the Company shall execute on phase two, namely the following strategic objectives –

Dewatering and Infrastructure Preparation

  • Dewatering at Redwing is scheduled to commence during the Feasibility–study phase and is expected to take approximately eight months to reach the targeted mining levels.
  • Concurrently, surface–infrastructure and power–supply upgrades will be planned to align with the restart timeline.

The third phase of the Company’s expansion will be to proceed with financing of its CAPEX –

CAPEX Financing

  • Upon completion of the Feasibility Studies, Namib Minerals intends to initiate the procurement process for major equipment and plant components required for the restart of the Redwing and Mazowe Mines.
  • The Company’s preliminary estimate is that the total funding requirement for the expansion program is expected to fall within a range of US $300 million to $400 million, with the majority allocated to the Redwing Mine. However, such estimate is preliminary and subject to the completion of the feasibility studies and final engineering outcomes as well as a number of assumptions, risks and uncertainties, including the timing of the completion of the feasibility studies, market conditions, and the cost of equipment and construction, many of which are beyond the Company’s control and subject to change.
  • The Company plans to pursue a balanced funding mix that may include project debt, strategic partnerships, and internally–generated cash flows to help minimize shareholder dilution.

Forward–Looking Statements
This update includes forward–looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts contained in this update are forward–looking statements. Any statements that refer to estimates, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward–looking statements. Forward–looking statements include, without limitation, our management teams’ expectations concerning future operational and cost performance, the anticipate timeline and costs of the restart of the Mazowe and Redwing Mines, and related assumptions. The forward–looking statements are based on our current expectations and are inherently subject to uncertainties and changes in circumstance and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward–looking statements involve a number of risks and uncertainties which include, but are not limited to, (i) market risks, including the price of gold; (ii) the inability to maintain the listing of Namib Minerals’ securities on Nasdaq; (iii) the inability to remediate the identified material weaknesses in the Company’s internal control over financial reporting, which, if not corrected, could adversely affect the reliability of Namib Minerals’ financial reporting; (iv) the risk that the Company may not be able to successfully develop its assets, including expanding the How mine, restarting and expanding the Redwing and Mazowe Mines; (v) the risk that Namib Minerals will be unable to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; and (vi) political and social risks of operating in Zimbabwe and the DRC. The foregoing list is not exhaustive. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the filings we make with Securities and Exchange Commission (the “SEC”). We caution you against placing undue reliance on forward–looking statements, which reflect current beliefs and are based on information currently available as of the date a forward–looking statement is made.

Non–IFRS Information
References to non–IFRS financial measures, including Adjusted EBITDA and AISC, are presented as supplementary information and should not be considered substitutes for IFRS results. Definitions and reconciliations are available in the Company’s public filings with the SEC.

Contacts:

Investor Relations:
[email protected]  

Lamiaa Maniar:
VP of Communications
[email protected]


GLOBENEWSWIRE (Distribution ID 9572442)

Azurity Pharmaceuticals Names Ogilvy Health as PR and Marketing Agency of Record to Drive Strategic Brand Repositioning and Enhance Market Visibility

New York, NY and Woburn, MA, Nov. 10, 2025 (GLOBE NEWSWIRE) — Azurity Pharmaceuticals names Ogilvy Health as public relations and marketing agency of record. Ogilvy Health's mandate will focus on reimagining Azurity's brand story centered on patient commitment and pioneering growth. The agency will also enhance Azurity's external visibility – both online and offline – and oversee the development of a new website to deliver dynamic content to all stakeholders, ensuring measurable impact across every channel.

Azurity is a high–growth global pharmaceutical company dedicated to creating new opportunities and markets for a broad range of established medications, while also developing innovative treatments for overlooked patient populations. Azurity’s goal is to identify gaps in care and provide patients with medicines that improve efficacy, access, safety, or the patient experience.

With a portfolio of over 50 medicines across 10 dosage forms and 10 key therapeutic areas, Azurity leverages data and AI to navigate markets, ensure stakeholder engagement, and expand our reach. Today, Azurity serves patients in over 50 countries worldwide, through a mix of direct and indirect go–to–market models, and our efforts are making a significant impact. Azurity’s medicines have benefited millions of people globally and that number continues to grow exponentially.

Ronald Scarboro, CEO of Azurity Pharmaceuticals said: “We are entering a pivotal phase in Azurity’s growth, and selecting the right strategic communications partner was essential. Ogilvy Health brings world–class expertise in healthcare brand repositioning, a compelling vision for elevating our market presence, and a truly global reach—making them an ideal partner for our continued evolution. Their team understands our ambition to honor our strong heritage while confidently advancing into the future. We are confident that their partnership will be instrumental in shaping a clear and unified identity that resonates with healthcare professionals, patients, partners, and investors alike.”

Shannon Walsh, President of Public Relations, Social and Influence at Ogilvy Health added: “Ogilvy Health is known for building some of the world’s biggest brands and that happens because we seek out partners like Azurity with tangible momentum and a clear ambition to reshape their business to better serve patients. Together, we will build an insight–led platform that grows with the Azurity brand, uniting our twin peaks of creativity and effectiveness, to help Azurity stake their claim as a global industry pioneer and drive meaningful impact across all critical audiences.”

In 2025, Ogilvy was recognized as the most creative and most effective agency network in the world, ranking #1 on WARC’s Creative 100 and Effective 100 lists for the fifth year in a row. The WARC 100 lists act as an industry benchmark for success based on results from the most prestigious global and regional industry competitions. 

About Azurity Pharmaceuticals
Azurity Pharmaceuticals is a privately held global pharmaceutical company dedicated to developing and delivering innovative, patient–centric medicines that meet unmet needs, particularly for populations requiring customized dosing or alternative formulations. With a portfolio of over 50 medicines focused on quality, safety, and ease of use, Azurity provides healthcare professionals with reliable treatment options across 10 therapeutic areas. The company’s mission centers on improving patient outcomes through thoughtfully designed, clinically meaningful medications. For more information, visit www.azurity.com.

About Ogilvy Health
Ogilvy Health is focused on driving superior outcomes in the ever–changing healthcare environment, an increasingly complex and evolving marketplace. We inspire brands and people to impact the world by keeping our audiences’ health and wellness needs at the center of every touchpoint. Ogilvy Health delivers insight, creativity, innovation, and engagement solutions for all healthcare stakeholders, patients, and consumers across the healthcare continuum. Through borderless creativity— operating, innovating, and creating at the intersection of Ogilvy’s capabilities and global talent—Ogilvy Health brings forth world–class creative solutions for its clients. For more information, visit OgilvyHealth.com, or follow Ogilvy Health on X, LinkedIn, Facebook, Instagram, and Threads.


GLOBENEWSWIRE (Distribution ID 9572390)

2025 JETOUR Media Alliance Tech Tour Concludes Successfully

WAHU, China, Nov. 10, 2025 (GLOBE NEWSWIRE) — The 2025 JETOUR Media Alliance (JMA) Tech Tour successfully concluded in Wuhu, Anhui Province. The event brought together representatives from leading automotive media worldwide at JETOUR's headquarters. Through a series of technology immersions, workshops, and test drives, participants gained a systematic understanding of JETOUR's latest advancements in new energy and hybrid off–road technologies, as well as its global strategy.

Demonstrating Technical Strength: The GAIA Architecture Defines Next–Generation Hybrid Off–Road

A core component of the Tech Tour was a comprehensive presentation of GAIA architecture. This architecture integrates four core modules — the GAIA Platform, GAIA Cockpit, GAIA Pilot, and GAIA Travel+ — and was engineered to meet the all–terrain mobility demands of the new energy era.

The G700, an all–terrain premium hybrid off–road SUV built on the GAIA Architecture, became the centerpiece of the event.

During the first global media test–drive, the G700 won broad recognition for its robust power delivery and intelligent control systems, fully demonstrating JETOUR’s technical credibility and brand confidence in the premium hybrid off–road segment.

Amplifying Global Voices: JMA Deepens Collaboration

The Tech Tour also marked a significant milestone in the collaboration within the JETOUR Media Alliance (JMA). During the event, JETOUR organized multiple workshops for in–depth exchanges with global media.

This combination of seminars and hands–on experiences provided guests with a more intuitive grasp of JETOUR's technical roadmap and strategic direction in the hybrid off–road field. Many noted that the G700 achieves an exceptional balance of performance, intelligence, and efficiency, highlighting its strong competitive edge in markets like the Middle East and Africa, where long range and superior off–road capability are paramount. Media representatives from Saudi Arabia, Egypt, and Chile also shared valuable local user feedback on off–road performance, range, and intelligent features, providing crucial insights for JETOUR's ongoing product refinement and globalization.

Media workshop on future hybrid off–road mobility

With the G700 poised for its global debut, JETOUR is accelerating toward its vision of becoming the world’s leading hybrid off–road brand. Backed by a “6+N” global R&D system and a team of 4,000 innovators, the brand now operates in 91 countries and regions with 8 overseas subsidiaries — strengthening its global network and redefining hybrid off–road standards worldwide.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3e1eabde–2b47–4fbb–b37d–adb49a8e5412


GLOBENEWSWIRE (Distribution ID 9572380)

Displaced Farmers in Southern Lebanon Still Denied Access to Land

Damaged greenhouse in Bent Jbeil, Nabatieh governorate. Credit: Action Against Hunger

Damaged greenhouse in Bent Jbeil, Nabatieh governorate. Credit: Action Against Hunger

By Ed Holt
BRATISLAVA, Nov 10 2025 – Food security and livelihoods in southern Lebanon are under severe threat as the repercussions of Israeli bombing continue to be felt across the region, a report released today (NOV 10) has warned.

Almost a year since a ceasefire was agreed, many farmers in Southern Lebanon are still denied access to their land due to displacement, ongoing Israeli attacks, and soil contamination, a joint report from Action Against Hunger, Oxfam and Insecurity Insight has found.

The impacts of the war, coupled with regular Israeli attacks and occupation, have wiped out farmland and destroyed crops and essential food infrastructure, threatening food security and livelihoods in some of the country’s most fertile and productive areas, according to the report.

“Food insecurity is a huge concern in Lebanon, affecting around a fifth of its population, and this report shows how damage and displacement are devastating production in some of its most fertile lands. As winter approaches, more and more families face hunger and poverty,” Suzanne Takkenberg, Action Against Hunger Country Director, told IPS.

The report, “’We Lost Everything’: The Impact of Conflict on Farmers and Food Security in Lebanon,” lays bare the effects of repeated and ongoing attacks by Israeli forces on Lebanese agricultural land and food production.

It highlights the lasting disruption to the agricultural sector and damage to the rural economy as seeds, fuel and other items necessary to plant and harvest, such as fertilizer and fuel, fodder, workers, and equipment, have become harder to obtain, while damaged roads mean transporting goods can sometimes be impossible.

Displacement and continued lack of access to land are among the major problems farmers are facing.

Almost half of the farmers interviewed for the report had been internally displaced and nearly a year on since the ceasefire was agreed, approximately 82,000 people remain unable to go home due to ongoing Israeli occupation and armed violence.

The ongoing presence of Israeli troops in southern Lebanon, despite a February 2025 deadline for their withdrawal, is also preventing people from accessing land to farm.

“Agricultural losses are not only caused by shelling or burning. When farmers cannot reach their land because of displacement or military presence, the outcome is the same: fields go unplanted, and food disappears,” Christina Wille, Director of Insecurity Insight, told IPS.

The five areas in southern Lebanon remaining under Israeli occupation as of September 2025.Credit: Map: Insecurity Insight. Base Map: UN OCHA

The five areas in southern Lebanon remaining under Israeli occupation as of September 2025.
Credit: Map: Insecurity Insight. Base Map: UN OCHA

But farmers have also complained of another serious effect of the bombings – contamination with/from explosive remnants of war (ERW) and white phosphorus.

White phosphorus can have detrimental effects on soil fertility and plant growth, which affects farmers’ ability to grow and harvest crops – with a knock-on effect for food security.

“ERW also poses a serious risk, as not only can these weapons degrade over time and contaminate water and soil, but they can also lead to serious injury and even death if unexploded ordnance detonates unexpectedly,” explained Wille.

“Explosive contamination freezes life in place. It keeps people displaced, fields uncultivated, and entire communities in limbo. Farmers told us that the war didn’t just destroy their crops but also their confidence. Food security is not only about seeds and soil. It is also about whether people feel safe enough to work the land,” she added.

The scale of the losses farmers have endured since the start of the conflict is immense.

“Our findings show that around 90% of farmers we interviewed have seen their food production drop since October 2023. That is a systemic collapse, not a seasonal shock,” Drew East, Researcher at Insecurity Insight, told IPS.

The food production of several farmers in Khiam, Bodai, Saaideh, Baalbek and Aitaroun has completely stopped, depriving them of their main income sources.

Meanwhile, farmers in areas of southern Lebanon and Bekaa that have seen some of the worst conflict incidents have seen losses not just of land but of homes, livestock, and agricultural assets.

But it is not just the livelihoods of farmers that have been ruined.

“Some farmers have lost everything and this will have devastating repercussions not just for them and their families, but also for the communities they help to feed,” said Wille.

The ongoing threat of violence and the levels of destruction witnessed throughout the conflict have also had a profound impact on the physical and psychological well-being of affected communities, according to the report.

“Farmers across Lebanon are already in crisis as historically low rainfall has led to the worst drought on record. This climate stress is being exacerbated by the ongoing effects of the conflict, including contamination of the land, restricted access and disruption to supply chains. Urgent action is needed to restore hope for farmers and communities who rely on them,” said Takkenberg.

Farmers also warned of the need for urgent assistance to address worsening hunger and poverty among communities.

Experts believe that until the ceasefire agreed upon one year ago is fully adhered to, affected farmers will not be able to recover fully.

“The repeated attacks on farmland in South Lebanon and Bekaa are not only destroying livelihoods but undermining Lebanon’s food security. There must be an immediate end to these violations and the full withdrawal of Israeli forces so that farmers can safely return to their land and rebuild their lives,” Oxfam in Lebanon Country Director Bachir Ayoub said.

“Three key elements farmers identified that would enable them to end the negative cycle afflicting southern Lebanon and fully resume food production were financial assistance, a complete cessation of hostilities, and the clearance of ERW-contaminated land,” added Wille.

The report comes just months after the same groups warned at least 150,000 people had been left without running water across the south of Lebanon after Israeli attacks had damaged and destroyed swathes of water sanitation and hygiene (WASH) facilities since the beginning of the conflict.

A report detailed how repeated attacks on Lebanese water infrastructure between October 2023 and April 2025 had led to long-term disruption to supplies of fresh water and caused losses estimated at USD171 million across the water, wastewater and irrigation sectors.

Meanwhile, a severe rainfall shortage had exacerbated the problem, increasing risks of outbreaks of waterborne diseases.

In the latest report, its authors point out that all parties to the conflict have clear obligations under International Humanitarian Law to protect objects indispensable to the survival of the civilian population, including foodstuffs, agricultural areas, crops and livestock.

And they have issued a call for urgent action to push for more humanitarian and development material support and funding to help with the situation and have stressed the need for a full withdrawal of Israeli forces from Lebanese territory as part of the ceasefire.

“The most urgent call could be to help people to safely return home and to work and address food insecurity as soon as possible,” said Wille.

“This is not last year’s conflict. The report tells the story of communities that are not just struggling to recover but under ongoing attack- as we’ve seen most intensely in the last few days,” said Takkenberg.

“Our teams are operating in this highly volatile environment to support those in need – rebuilding greenhouses, restoring roads, distributing cash and providing essential agricultural inputs. Working side by side with local authorities and communities, we are doing what we can to repair livelihoods and create space for renewal. But ultimately, this won’t be possible until we have lasting peace,” she added.

IPS UN Bureau Report

 


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