Hyundai Motor Group Hosts Pleos SDV Standard Forum to Drive Software-Defined Vehicle Era through Collaboration
The forum introduces a new collaboration model to drive innovation across the value chain and establish a software-centric ecosystem for SDV development
The Group presents a technology roadmap to drive SDV innovation and establish an aligned supply chain based on the values of speed, transparency and trust
The event features keynote speeches and technical sessions addressing topics, such as: E&E architecture, vehicle OS and security, diagnostics and standardization
SEOUL, South Korea, Aug. 20, 2025 /CNW/ -- Hyundai Motor Group (the Group) has reinforced its leadership in the software-defined vehicle (SDV) era by sharing the latest technology standards and software development system with its key partners, strengthening the foundation for collaboration.
Today, the Group hosted the 'Pleos SDV Standard Forum' at the Software Dream Center in Pangyo, Korea. The event brought together core engineering leaders from 58 key partners, including Hyundai Mobis, Hyundai Kefico, Bosch, Continental, HL Mando, and other vehicle control system specialists.
This forum, held as the automotive industry undergoes a major shift from hardware to software-centric development, aimed to accelerate the transition to SDVs. It serves as a way to transform supply chains and enhance the industry's adaptability to this transformation.
"Close collaboration with key partners and the widespread adoption of standardized development frameworks are essential for implementing SDVs," said Chang Song, President and Head of the Advanced Vehicle Platform (AVP) Division at Hyundai Motor Group. "We will continue to establish a software-driven collaborative network by distributing technical standards and building a supply chain system for SDV mass production."
Unlike traditional hardware-based vehicles, SDVs are defined as platforms capable of ongoing updates and feature expansions even after delivery. Achieving mass production of SDVs requires a complete reorganization of development environments across all areas, including component suppliers, software developers and specialists in diagnostics, security and verification. To support this shift, standardized frameworks and collaborative ecosystems are essential.
Through the forum, the Group shared the latest technical standards and development frameworks required for the SDV transition, enabling the establishment of a software-centric collaboration system to accelerate industry advancements.
The forum began with a keynote speech from President Song and featured five key sessions, including:
Transitioning vehicle development methods for SDV mass production.
Applying CODA [1] (Computing & I/O Domain-based E&E Architecture) for developing optimized hardware and flexible software architecture.
Facilitating vehicle software development based on the Pleos Vehicle OS.
Establishing a standardized, scalable framework for external devices (Plug & Play).
Developing integrated software tools to foster collaboration between OEMs and suppliers.
These sessions expanded on the strategies presented at the 'Pleos 25' developer conference in March. Executives and technical leaders from Hyundai Motor, Kia and 42dot — the Group's global software center — presented strategies to address the challenges of the SDV transition and engaged in panel discussions and Q&A interactions.
One key highlight was the introduction of a standardized software development framework to support SDV development. This framework provides detailed guidelines for partners to adopt it within their own development environments and covers the entire development process — from defining specifications to feature validation, issue management and tracking outputs. A standout feature is the ability for the Group and its partners to securely connect and share development data in real time, ensuring seamless collaboration while maintaining data security.
The adoption of this standardized framework is expected to significantly enhance the efficiency and quality of software development by integrating the expertise of various partners working on vehicle control units. Moreover, this transition marks a shift from the traditional hardware-focused vertical supply chain to a software-driven, horizontally integrated collaboration model. It is anticipated to form the critical infrastructure for large-scale SDV production.
Through this forum, the Group aims to support its partners in discovering new business opportunities aligned with the SDV era. It plans to continue operating regular forums, sharing technical roadmaps, and accelerating the transformation of development environments through ongoing collaboration.
At the 'Pleos 25' developer conference in March, the Group launched its integrated software platform brand 'Pleos', unveiling plans for an in-vehicle app ecosystem and global partnerships to advance its transformation into a software-first mobility tech company.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
7 minutes ago
- Cision Canada
Corby Spirit and Wine Limited reports strong Q4 and full-year fiscal 2025 results, and announces dividend of $0.23 per share.
TORONTO, Aug. 20, 2025 /CNW/ - Corby Spirit and Wine Limited ("Corby" or the "Company") (TSX: CSW.A) (TSX: CSW.B), a leading Canadian manufacturer, marketer and importer of spirits, wines and ready-to-drink cocktails ("RTDs"), today announced its financial results for the fiscal fourth quarter ("Q4") and full-year 2025 ("FY25") periods ended June 30, 2025. Strong Q4 performance reflecting sales execution excellence across our portfolio and continued RTD business expansion, leading to robust full year FY25 results through sustained share gains in an evolving market Q4 Revenue of $72.0 million (+8% reported year-over-year, +6% organic) FY25 Revenue of $246.8 million (+7% reported, +2% organic) Q4 Adjusted EBITDA 1 of $15.6 million (+18%) FY25 Adjusted EBITDA 1 of $64.0 million (+7%) Q4 Adjusted Net Earnings 1 of $7.5 million (+37%) (Reported +30%) FY25 Adjusted Net Earnings 1 of $30.6 million (+7%) (Reported +15%) Solid Balance Sheet and strong Cash Flow generation in FY25 Quarterly Dividend declared of $0.23 per share FINANCIAL RESULTS Q4 FY25 results: Revenue for the fourth quarter of fiscal 2025 was $72.0 million, increasing by $5.5 million or 8% compared to the same period last year, with owned and represented spirits benefiting from strong shelf prominence as a result of sales execution excellence, provincial trade measures, and the full-period inclusion of the Nude brands acquired in May 2024. Organic revenue 1, which excludes the impact of the acquisitions and dispositions completed in the last twelve months, was $70.6 million during the quarter, reflecting strong growth of $4.1 million or 6% compared to the prior year period. Marketing, sales and administrative expenses decreased $0.4 million, or 2% year-over-year to $23.7 million, reflecting continued diligence in overhead management and realized organizational efficiency. The robust revenue growth and Corby's diligent cost management supported Adjusted EBITDA 1 increasing by 18% year-over-year to $15.6 million. In addition, Adjusted Net Earnings 1 for Q4 FY25 of $7.5 million reflected a substantial improvement of 37% year-over-year, while reported Net Earnings 1 increased by 30% to $6.2 million. Full-year FY25 results: Revenue for fiscal 2025 was $246.8 million, increasing by $17.1 million or 7% compared to fiscal 2024, reflecting the full-year contribution of the Nude Brands and steady organic revenue growth. Organic revenue 1 reached $233.5 million, with growth of 2% versus the prior year, demonstrating resilience and strength while navigating a volatile market: Domestic case goods revenue of $184.1 million, increasing by 1% in a softer spirits market, with Corby leveraging its fast-growing RTD portfolio to capitalize on the retail modernization opportunity in Ontario; offsetting the adverse impacts of labour strikes at the LCBO, ports, and railways during the first half of fiscal 2025; Commissions sales reached $30.6 million, reflecting growth of 15%, led by imported RTDs and wines capitalizing on the route-to-market ("RTM") modernization in Ontario; and Export revenue of $14.9 million, a decline of 12% year-over-year, lapping the pipeline fill to new markets last year combined with an unfavourable phasing of shipments to the US. Marketing, sales and administrative expenses increased by $1.8 million, or 2% to $77.0 million in FY25, primarily reflecting the full-year effect of marketing investments and overheads related to the acquisition of Nude brands. Domestic investments lapped sponsorship and media campaign events from last year, while Corby invested further to support strategic brands including J.P. Wiser's through a new NHL multi-year partnership and Polar Ice vodka to sustain its strong commercial momentum. An ongoing focus on operational efficiency led to overall expenses increasing at a slower rate than revenue. Adjusted EBITDA 1 totaled $64.0 million in FY25, increasing by 7% versus the same period last year. Corby delivered reported net earnings of $27.4 million and Adjusted Net Earnings 1 of $30.6 million in FY25, increasing by 15% and 7% year-over-year, respectively. The Company generated strong cash flow during FY25, with Cash Flow from Operating Activities of $44.8 million, an increase of $13.3 million or 42% year-over-year. Corby closed FY25 with a healthy balance sheet and its Net Debt / Adjusted EBITDA 1 ratio at 1.4x at fiscal year-end. Corby delivered a dividend payout ratio 1 of 57% for the full year, highlighting the sustainability of the Company's quarterly dividend and sound financial policy. Corby's President and Chief Executive Officer, Nicolas Krantz, stated, "I am incredibly proud of Corby's business performance for the fourth quarter leading to a record-high revenue in full year of fiscal 2025, with value shares gains in the Canadian spirits market for the third year in a row. In a volatile market environment, the strong performance highlights the effectiveness of our portfolio prioritization strategy, and Corby's continued excellence in sales execution. Our recent acquisitions in the RTD segment have yielded strong results and have supported our ability to grow rapidly to align with evolving consumer preferences and newly opened retail channels. This translated into strong financial results throughout the year, including growth in revenue and profitability as well as robust cash flow generation. Looking ahead, I'm confident in our ability to sustain commercial momentum in a shifting market by leveraging our core strengths and portfolio breadth. Our focus remains on outperforming the wider Spirits and RTD categories in fiscal 2026. This will be achieved through disciplined execution of strategic priorities across our spirits brands, continuing the strong momentum of our RTD portfolio, and leveraging digital tools to aid in optimizing return on investment on advertising and promotion, pricing strategy, and sales execution. Concurrently, we will continue to maintain a balanced capital allocation strategy, capitalizing on strategic growth opportunities while maintaining financial flexibility and returning capital to our shareholders through our attractive quarterly distribution. I am confident that we have the teams and capabilities to continue proactively navigating challenges and capitalizing on emerging opportunities and we look forward to building on our strong track-record of performance to drive additional long-term shareholder value." For further details, please refer to Corby's Management's Discussion and Analysis and consolidated financial statements and accompanying notes for the three-months and year-ended June 30, 2025, prepared in accordance with International Financial Reporting Standards, available on and In Q4 FY25, Corby delivered standout performance in a market that continued to face headwinds. While the overall spirits category declined 5% in value relative to the comparable period last year, Corby's over-the-counter spirits sales grew 4%, driven by strong sales execution across both owned and represented brands to increase presence on shelf following the removal of US-origin spirits in key provinces. Meanwhile, Corby RTDs surged 22% in Q4 FY25 compared to the prior year period, outperforming the overall RTD category, which grew 9% in value, in a landscape shaped by shifting consumer preferences and expanding RTD distribution points in Ontario. In the full-year FY25, the overall spirits market also declined 5% in value, notably impacted by the LCBO labour strike in July 2024 and reduced purchasing patterns observed as a result of the new channel expansion in Ontario. The RTD category was also impacted by the strike during the first fiscal quarter but benefited from the subsequent RTM modernization in Ontario and remained the fastest growing category overall in the last twelve months, increasing by 7% in value. In that context, Corby's total represented spirits (including PR spirits) have outperformed the Canadian spirits market in value for three fiscal years in a row. In the full-year FY25, Corby spirits demonstrated resilience, declining by only 2% year-over-year, and Corby RTDs (excl. Nude) were dynamic, increasing 10% year-over-year, both outpacing the market in value growth. This outperformance reflects Corby's ability to successfully navigate the LCBO labour strike in July 2024 and Ontario retail modernization changes thanks to a diversified product portfolio and local brand strength, along with successful new product launches. On July 17, 2024, Pernod Ricard announced the sale of its international strategic wine brands to Australian Wine Holdco Limited, which closed effective April 30, 2025. The transaction includes the sale of a wide portfolio of international wine brands owned and produced by Pernod Ricard Winemakers from three origins including Jacob's Creek ® from Australia; Stoneleigh ®, Brancott Estate ® from New Zealand; and Campo Viejo ® from Spain. As a result of this transaction, Corby has continued to represent these brands in Canada during a transition period ending August 31, 2025 under the same terms as those contained in the Pernod Ricard Representation agreement. During fiscal 2025, these wine brands collectively represented 2% of Corby's revenue. Discussions with the new owner to continue the representation and distribution of the acquired wine brands in Canada beyond the end of the transition period are progressing positively. QUARTERLY DIVIDEND The Corby Board of Directors is pleased to declare a dividend of $0.23 per Voting Class A Common Share and Non-Voting Class B Common Share of the Company, consistent with the amount of the last dividend payment. This dividend is payable on September 26, 2025 to shareholders of record as at the close of business on September 10, 2025. QUARTERLY CONFERENCE CALL Corby management will host a conference call on Thursday, August 21, 2025, at 9:00 a.m. (EST) to review and discuss the financial and operational results for the Q4 and FY25 periods. Corby welcomes stakeholders, investors, and other individual followers to access the conference call by dialing 416-764-8659 or toll free 1-888-664-6392 before the start of the call, or by joining via webcast at Corby FY25 Year End Earnings Call. Following the conclusion of the call, a playback of the conference call will be available for 30 days by calling 416-764-8677 or 1-888-390-0541 and entering passcode 474210 #. A replay of the webcast will also be posted on Corby's website under the "Investors" section at 1) NON-IFRS FINANCIAL MEASURES & RATIOS In addition to using financial measures prescribed under IFRS, references are made in this news release to "Adjusted Earnings from Operations", "Adjusted Net Earnings", "Adjusted Basic Earnings per Share", "Adjusted Diluted Earnings per Share", "Total Debt", "Net Debt", "Organic Revenue" and "Adjusted EBITDA" which are non-IFRS financial measures. Non-IFRS financial measures and ratios do not have any standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other issuers. Management believes the non-IFRS measures included in this news release are important supplemental measures of operating performance and highlight trends in the core business that may not otherwise be apparent when relying solely on IFRS financial measures. Management believes that these measures allow for assessment of the Company's operating performance and financial condition on a basis that is more consistent and comparable between reporting periods. Adjusted Earnings from Operations is equal to earnings from operations before interest and taxes for the period adjusted to remove the costs incurred for business combination inventory fair value adjustments, restructuring provisions and portfolio rationalization costs; and in FY24, adjusted to remove the costs incurred for business combination inventory fair value adjustments, one-time termination fees related to distributor transitions, restructuring provisions and the transaction costs related to the acquisition of ABG and Nude assets. Adjusted EBITDA refers to Adjusted Earnings from Operations adjusted to remove amortization and depreciation disclosed in Corby's financial statements. Adjusted Net Earnings is equal to net earnings for the period adjusted to remove the costs incurred for business combination inventory fair value adjustments, restructuring provisions, portfolio rationalization costs and the notional interest charges related to NCI obligation, net of tax calculated using the effective tax rate; and in FY24, adjusted to remove the costs incurred for business combination inventory fair value adjustments, one-time termination fees related to distributor transitions, restructuring provisions, the transaction costs related to the acquisition of ABG and Nude assets and the notional interest charges related to NCI obligation, net of tax calculated using the effective tax rate. Adjusted Basic Net Earnings Per Share is computed in the same way as basic net earnings per share and diluted net earnings per share, respectively, using the aforementioned Adjusted Net Earnings non-IFRS financial measure in place of reported Net Earnings. Adjusted Diluted Earnings Per Share is computed in the same way as basic net earnings per share and diluted net earnings per share, respectively, using the aforementioned Adjusted Net Earnings non-IFRS financial measure in place of reported Net Earnings. The following table presents a reconciliation of Adjusted Earnings from Operations, Adjusted EBITDA and Adjusted Net Earnings to their most directly comparable financial measures for the three-months and year ended June 30, 2025, and 2024: Three months ended Year ended June 30, June 30, June 30, June 30, (in millions of Canadian dollars) 2025 2024 $ Change % Change 2025 2024 $ Change % Change Earnings from operations $ 10.4 8.7 $ 1.7 20 % $ 46.1 40.7 $ 5.4 13 % Adjustments: Transaction related costs 1 - 0.6 (0.6) (100 %) - 1.2 (1.2) (100 %) Portfolio rationalization costs 2 0.8 - 0.8 n.a. 0.8 - 0.8 n.a. Restructuring costs 3 0.3 (0.3) 0.5 (197 %) 0.3 (0.3) 0.5 (197 %) Fair value adjustment to inventory 4 - 0.2 (0.2) (100 %) 0.6 3.2 (2.6) (81 %) Distributor transition 5 - - - n.a. - (0.3) 0.3 (100 %) Adjusted Earnings from operations $ 11.5 9.2 $ 2.3 25 % $ 47.8 44.6 $ 3.2 7 % Adjusted for Depreciation and amortization 4.1 4.1 0.0 1 % 16.3 15.4 0.8 5 % Adjusted EBITDA $ 15.6 13.3 $ 2.3 18 % $ 64.0 60.0 $ 4.0 7 % Net earnings $ 6.2 $ 4.8 $ 1.4 30 % $ 27.4 23.9 $ 3.5 15 % Adjustments: Transaction related costs 1 - 0.3 (0.3) (100 %) - 0.9 (0.9) (100 %) Portfolio rationalization costs 2 0.6 - 0.6 n.a. 0.6 - 0.6 n.a. Restructuring costs 3 0.2 (0.3) 0.4 (171 %) 0.2 (0.3) 0.4 (171 %) Fair value adjustment to inventory 4 - 0.1 (0.1) (100 %) 0.4 2.4 (1.9) (81 %) Distributor transition 5 - - - n.a. - (0.2) 0.2 (100 %) NCI Obligation 6 0.5 0.5 0.1 12 % 2.0 1.8 0.2 12 % Adjusted Net earnings $ 7.5 $ 5.4 $ 2.0 37 % $ 30.6 28.5 $ 2.1 7 % Three months ended Year ended June 30, June 30, June 30, June 30, (in Canadian dollars) 2025 2024 $ Change % Change 2025 2024 $ Change % Change Per common share - Basic net earnings $ 0.22 0.17 $ 0.05 30 % $ 0.96 0.84 $ 0.12 15 % - Diluted net earnings $ 0.22 0.17 $ 0.05 30 % $ 0.96 0.84 $ 0.12 15 % Basic net earnings per share $ 0.22 0.17 $ 0.05 30 % $ 0.96 0.84 $ 0.12 15 % Adjustments: Transaction related costs 1 - 0.01 (0.01) (100 %) - 0.03 (0.03) (100 %) Portfolio rationalization costs 2 0.02 - 0.02 n.a. 0.02 - 0.02 n.a. Restructuring costs 3 0.01 (0.01) 0.02 (171 %) 0.01 (0.01) 0.02 (171 %) Fair value adjustment to inventory 4 - 0.00 (0.00) (100 %) 0.02 0.08 (0.07) (81 %) Distributor transition 5 - - - n.a. - (0.01) 0.01 (100 %) NCI Obligation 6 0.02 0.02 0.00 12 % 0.07 0.06 0.01 12 % Adjusted Basic, net earnings per share $ 0.26 0.19 $ 0.07 37 % $ 1.08 1.00 $ 0.07 7 % Dilluted net earnings per share $ 0.22 0.17 $ 0.05 30 % $ 0.96 0.84 $ 0.12 15 % Adjustments: Transaction related costs 1 - 0.01 (0.01) (100 %) - 0.03 (0.03) (100 %) Portfolio rationalization costs 2 0.02 - 0.02 n.a. 0.02 - 0.02 n.a. Restructuring costs 3 0.01 (0.01) 0.02 (171 %) 0.01 (0.01) 0.02 (171 %) Fair value adjustment to inventory 4 - 0.00 (0.00) (100 %) 0.02 0.08 (0.07) (81 %) Distributor transition 5 - - - n.a. - (0.01) 0.01 (100 %) NCI Obligation 6 0.02 0.02 0.00 12 % 0.07 0.06 0.01 12 % Adjusted Diluted, net earnings per share $ 0.26 0.19 $ 0.07 37 % $ 1.08 $ 1.00 $ 0.07 7 % Organic revenue growth is measured as the difference between revenue excluding case goods revenue from acquired or disposed brands compared to revenue in the preceding fiscal period during which the acquisition or disposal had not yet occurred. For fiscal year 2025, organic revenue excludes revenue from Nude Beverages from July 2024 to April 2025 since the comparative period did not have revenues prior to the acquisition in May 2024. The following table presents a reconciliation of total organic revenue and organic case goods revenue to their most directly comparable financial measures for the three-months and year ended June 30, 2025, and 2024: Year ended Jun 30, June 30, Organic Growth (in millions of Canadian dollars) 2025 2024 Revenue Streams: Consolidated Adjusted for revenue from acquired or disposed entities Organic Consolidated $ Change % Change Domestic case goods revenue $ 197.3 (13.3) $ 184.1 $ 181.8 $ 2.3 1 % Export case goods revenue 14.9 - 14.9 17.0 (2.0) (12 %) Total commissions 30.6 - 30.6 26.6 4.0 15 % Other services 3.9 - 3.9 4.3 (0.4) (9 %) Total Revenue $ 246.8 (13.3) $ 233.5 $ 229.7 $ 3.9 2 % Total Debt refers to debt of the Company, which includes bank indebtedness and credit facilities payable, lease liabilities and long-term debt. Net Debt refers to the cash and deposits in cash management pools of the Company, less bank indebtedness and credit facilities payable and long-term debt. The following table presents a reconciliation of total debt and net debt to their most directly comparable financial measures as at June 30, 2025 and 2024: June 30, June 30, (in millions of Canadian dollars) 2025 2024 Bank indebtedness $ (3.5) $ - Credit facilities payable (1.5) (17.8) Lease liabilities (3.6) (3.0) Long-term debt (102.0) (120.0) Total debt $ (110.6) $ (140.8) Cash $ 0.2 $ 4.6 Deposits in cash management pools $ 15.8 $ 27.4 Bank indebtedness (3.5) - Credit facilities payable (1.5) (17.8) Long-term debt (102.0) (120.0) Net debt $ (91.0) $ (105.8) Dividend Payout Ratio refers to annualized dividends paid divided by Cash Flow from Operating Activities. Please refer to the "Non-IFRS Financial Measures" & "Non-IFRS Financial Ratios" section of our MD&A for the three-months and year ended June 30, 2025 as filed on SEDAR+ for further information regarding Non-IFRS measures. FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements, including statements concerning possible or assumed future results of Corby's operations. Forward-looking statements typically are preceded by, followed by or include the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. These statements are being provided for the purposes of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our anticipated financial position, results of operations and operating environment. Readers are cautioned that such information may not be appropriate for other purposes and are not guarantees of future performance. Although Corby believes that the forward-looking information in this press release is based on information, assumptions and beliefs which are current, reasonable and complete, this information is necessarily subject to a number of factors, risks and uncertainties that could cause actual results to differ materially from management's expectations and plans as set forth in such forward-looking information. For more information on the risks, uncertainties and assumptions that could cause Corby's actual results to differ from current expectations, refer to the Risks and Risk Management section of our Management's Discussion and Analysis for the three-and-twelve month period ended June 30, 2025 as well as Corby's other public filings, available at and at Corby does not undertake to update any forward-looking information, whether written or oral, that may be made from time to time by it or on its behalf, to reflect new information, future events or otherwise, except as is required by applicable securities laws. Accordingly, readers should not place undue reliance on forward-looking statements. All financial results are reported in Canadian dollars. About Corby Spirit and Wine Limited Corby Spirit and Wine Limited is a leading Canadian manufacturer, marketer and distributor of spirits and imported wines, and ready-to-drink beverages. Corby's portfolio of owned-brands includes some of the most renowned brands in Canada, including J.P. Wiser's ®, Lot 40 ®, and Pike Creek ® Canadian whiskies, Lamb's ® rum, Polar Ice ® vodka and McGuinness ® liqueurs, as well as the Ungava ® gin, Cabot Trail ® maple-based liqueurs and Chic Choc ® spiced rum, Cottage Springs ® and Nude ® ready-to-drink beverages and Foreign Affair ® wines. Through its affiliation with Pernod Ricard S.A., a global leader in the spirits and wine industry, Corby also represents leading international brands such as ABSOLUT ® vodka, Chivas Regal ®, The Glenlivet ® and Ballantine's ® Scotch whiskies, Jameson ® Irish whiskey, Beefeater ® gin, Malibu ® rum, Olmeca Altos® and Código 1530® tequilas, Jefferson's™ and Rabbit Hole® bourbons, Kahlúa ® liqueur, Mumm ® champagne, and Jacob's Creek ®, Wyndham Estate ®, Stoneleigh ®, Campo Viejo ®, and Kenwood ® wines. Corby is a publicly traded company based in Toronto, Ontario, and is listed on the Toronto Stock Exchange under the trading symbols CSW.A and CSW.B. For further information, please visit our website or follow us on LinkedIn.
Cision Canada
an hour ago
- Cision Canada
FVF PARTICIPAÇÕES LTDA. ANNOUNCES SHAREHOLDINGS IN SOUTH STAR BATTERY METALS CORP.
VANCOUVER, BC, Aug. 20, 2025 /CNW/ - FVF Participações Ltda. (" FVF"), is the investment fund manager of Annapurna Investment Fund Ltd., (the " Fund"). In its role as the investment fund manager to the Fund, FVF exercises control and direction over common shares (" Shares") and warrants to purchase Shares of South Star Battery Metals Corp. (" South Star"). On August 15, 2025, Annapurna Investment Fund Ltd. terminated its investment management agreement with Fitpart Fund Administration Services Ltd. and immediately entered into an investment management agreement with FVF. As a result, FVF, on behalf of the Fund it manages, now exercises control and direction over 4,261,003 Shares, representing approximately 6.88% of the issued and outstanding Shares of South Star and 3,624,452 warrants. Assuming the exercise of the warrants, FVF on behalf of the Fund it manages, will exercise control and direction over 7,885,455 Common Shares, representing approximately 12.03% of the issued and outstanding common shares of South Star. FVF, on behalf of the Fund it manages, exercises control and direction over the Shares of South Star for investment purposes. FVF may acquire additional securities or dispose of securities of South Star in the future either on the open market, privately or otherwise depending on market conditions, reformulation of plans, other available investment business opportunities and/or other relevant factors. A copy of the Early Warning Report will be available under South Star's profile at or may be obtained by contacting Antonio Carlos de Freitas Valle at Avenida Brigadeiro Faria Lima n° 2.277, conj. 1601, São Paulo, São Paulo, Brazil, CEP 01452-000 or at [email protected].
Cision Canada
an hour ago
- Cision Canada
GALIANO GOLD REPORTS EXCEPTIONAL DRILL RESULTS AT ABORE, INCLUDING 23m @ 6.8 g/t Au AND 16.4m @ 5.3 g/t Au, WITH MULTIPLE ORE SHOOTS AND NEW HIGH-GRADE ZONE IDENTIFIED
Multiple new high-grade gold intercepts below the Mineral Resource at Abore highlight potential for Mineral Resource growth. VANCOUVER, BC, Aug. 20, 2025 /CNW/ - Galiano Gold Inc. ("Galiano" or the "Company") (TSX: GAU) (NYSE American: GAU) is pleased to announce an update on the Abore 2025 Phase 2 drilling program, currently underway at the Asanko Gold Mine ("AGM"), in Ghana, West Africa. Drilling results have identified multiple new high-grade ore shoots across the Abore South and Main zones, while also revealing a significant new high-grade discovery at Abore North below the existing Mineral Reserve and Mineral Resource. The ongoing exploration program at Abore continues to unlock near-term growth opportunities, with mineralization open in multiple directions and additional drilling underway. Selected Drill Highlights 1,2,3: 6.8 grams per tonne ("g/t") gold ("Au") over 23 meters ("m") from 240m (Hole ABDD25-388) 5.3 g/t Au over 16.4m from 189m (Hole ABDD25-384) 2.0 g/t Au over 44.8m from 279m (Hole ABPC25-368) 2.9 g/t Au over 30.6m from 148m, including 17m @ 4.5 g/t Au (Hole ABPC25-380) 3.0 g/t Au over 17.5m from 241m (Hole ABDD25-354) 2.9 g/t Au over 29.7m from 209m (Hole ABPC25-371) 2.1 g/t Au over 40m from 208m, including 12m @ 3.8 g/t Au (Hole ABDD25-376) 2.3 g/t Au over 19.9m from 215m (Hole ABPC25-361) 1.7 g/t Au over 46m from 225m, including 13m @ 2.8 g/t Au (Hole ABDD25-374) 1.6 g/t Au over 34m from 210m, including 8m @ 3.7 g/t Au (Hole ABDD25-377) 1.3 g/t Au over 30m from 233m, including 5m @ 3.2 g/t Au (Hole ABDD25-379) "We are excited to see consistent high-grade zones intercepted below the current resource shell at grades significantly above the average grade of the existing mineral resource," said Matt Badylak, President and Chief Executive Officer of Galiano. "We recognise the significance of encountering grades of this magnitude and continuity of mineralization at these elevations and anticipate these results will drive near term value through open pit resource expansion, while providing robust targets for continued exploration success at Abore." Chris Pettman, Galiano's Vice President of Exploration, added: "These results validate our exploration strategy and strengthen our confidence in Abore as we advance with expanded drill programs targeting both open pit extensions and underground potential. We anticipate continuing aggressive drilling operations at Abore for the balance of the year and into 2026." Abore 2025 Phase 2 Program Overview Following the positive results of a Phase 1 drilling program reported in Q1 2025, which targeted mineralization within and directly below the Mineral Reserve pit 1, the Company is pleased to report partial results on Phase 2 currently underway at Abore and near 75% complete. The Phase 2 program was designed to test for further extensions of mineralization immediately below the Abore Mineral Reserve and Mineral Resource, across a strike length of approximately 1,600m, extending to the northern end of the Abore Mineral Reserve pit. Drilling has progressed under budget and ahead of schedule and is now expected to achieve approximately 10,000m over 40 holes. Complete assays have been received for 31 holes to-date. _____________________________ 1 See press release " Galiano Gold Announces Discovery of New High-Grade Zone at Abore with Intercept of 50m @ 3.2 g/t Au & Results of Infill Drilling Program" dated May 5, 2025. Abore South and Abore Main: Multiple High-Grade Ore Shoots Identified Among the highest priorities for the Phase 2 program was testing for continuation of mineralization in the 'saddle' area between Abore South pit and Abore Main pit, as well as expanding the high-grade zone initially discovered during Phase 1 drilling, where hole ABPC25-346 (the "Discovery Hole") returned 50m @ 3.2 g/t Au under the south end of Abore Main pit 1. Drilling from Phase 2 has confirmed mineralization continues along a low angle ore shoot, down plunge and along strike, to the north of the known south high-grade zone into the saddle area. This high-grade zone now has a total strike length of approximately 400m, with notable intercepts including: Hole ABDD25-354: 17.5m @ 3.0 g/t Au from 241m Hole ABPC25-361: 19.9m @ 2.3 g/t Au from 215m The high-grade zone at the south end of Abore Main pit mentioned above has now been shown to be part of another low angle, north plunging ore shoot also extending over at least 400m. It starts 60m along strike and up plunge to the south of the Discovery Hole, where Phase 2 drilling intersected the ore shoot under the saddle area and returned the following significant intercept: Hole ABPC25-380 30.6m @ 2.9 g/t Au from 148m, including 17m @ 4.5 g/t Au Multiple drill holes intercepted the down plunge extension of this ore shoot under Abore Main pit to the north of the Discovery Hole, including the following key intercepts: Hole ABPC25-371: 29.7m @ 2.9 g/t Au from 209m Hole ABDD25-374: 46m @ 1.7 g/t Au from 225m, including 13m @ 2.8 g/t Au Hole ABDD25-376: 40m @ 2.1 g/t Au from 208m, including 12m @ 3.8 g/t Au Hole ABDD25-377: 34m @ 1.6 g/t Au from 210m, including 8m @ 3.7 g/t Au Hole ABDD25-379: 30m @ 1.3 g/t Au from 233m, including 5m @ 3.2 g/t Au This ore shoot remains open along strike and down plunge to the north under Main pit, as well as at depth. Drilling during Phase 2 in the area under the saddle, between Abore South pit and Abore Main pit, has also identified what is interpreted as a south dipping conjugate structure carrying high-grade mineralization that connects the two north plunging ore shoots, with the following significant intercept: Hole ABDD25-384: 16.4m @ 5.3 g/t Au from 189m Other intercepts of note at Abore South pit include a wide intercept of mineralized granite directly below the south high-grade zone, with hole ABPC25-368 intercepting 44.8m @ 2.0 g/t Au from 279m, including 17m @ 3.3 g/t Au. The southern most hole of the Phase 2 program, hole ABPC25-364, intercepted 28m @ 1.6 g/t Au from 207m. Abore North: New High-Grade Zone Discovered Phase 2 drilling extended to the northern end of the deposit, identifying a new high-grade zone located approximately 75m below the Abore Mineral Resource under Abore North pit, with the following significant intercept: Hole ABDD25-388: 23m @ 6.8 g/t Au from 240m Further infill drilling around this intercept is currently underway to determine the orientation and size of this new zone, which remains open along strike to the north and south, as well as at depth. In addition to this newly discovered high-grade zone, Phase 2 drilling, under and around North pit and below the Mineral Resource, has returned additional well-mineralized intercepts including: Hole ABPC25-375: 11m @ 2.3 g/t Au from 189m and 7m @ 2.6 g/t Au from 208m Hole ABDD25-387: 5.2m @ 5.5 g/t Au from 266m and 5m @ 3.0 g/t Au from 279m and 5m @ 2.0 g/t Au from 292m These strong initial results demonstrate that there is considerable near-term growth potential at Abore North, where active mining has yet to begin. The current Phase 2 program remains ongoing with 9 holes from Abore South, Abore Main and Abore North yet to be completed and/or awaiting final assays. Next Steps Based on the continued exploration success at Abore, the 2025 drilling campaign will now be expanded beyond the completion of the current Phase 2 program and is anticipated to extend into 2026 to rapidly increase drill density within the zone immediately below the current Abore Mineral Resource with the goal of growing Inferred and Indicated Mineral Resources. The program will also continue to aggressively test multiple priority targets for further continuations of high-grade mineralization along plunge and beneath the known mineralized zones, which all remain open. Key areas of strategic interest include the 'saddle' zone connecting the Abore South and Main pits, as well as sections directly below the North pit, which present compelling mine optimization opportunities. Mineralization remains open at depth and across the entire 1,800m of strike of the Abore deposit. The Company is undertaking studies to evaluate underground mining potential and to define the optimal transition depth between open pit operations and potential future underground development. The exploration team at the AGM is well positioned to execute this aggressive drilling strategy with a fully staffed, highly skilled team on site, sufficient funding, and the full support of the Company's management and Board of Directors. As demonstrated during the ramp up of the Phase 2 drilling, the Company was able to leverage strong relationships with our in-country drilling contractors to obtain high quality equipment and crews and plan to ramp up to a minimum of five to six drill rigs at Abore throughout the duration of this next phase of drilling. Background Abore is located approximately 13 kilometers north of the AGM's processing plant, directly along the haul road, and has current Measured and Indicated Mineral Resources of 638,000 ounces at 1.24 g/t Au and Inferred Mineral Resources of 78,000 ounces at 1.17 g/t Au, as published in the Company's most recent Mineral Reserve and Mineral Resource estimates effective December 31, 2024 2. The Abore deposit sits along the Esaase shear corridor, which also hosts the Esaase deposit, and forms part of the northeast striking Asankrangwa gold belt. The geology of Abore is characterized by a sedimentary sequence composed primarily of siltstones, shales and thickly bedded sandstones that has been intruded by a granite, which lies parallel to the shear and dipping steeply to the northwest. The majority of mineralization is constrained to the granite, hosted in west dipping quartz vein areas developed primarily along the eastern margin of the granite/sediment contact. Cross sections F H, and J below trend from south to north showing the newly identified north plunging ore shoot with mineralization below the Mineral Resource under Main pit and extending into the saddle zone between main pit and south pit. This ore shoot remains open in all directions. Table 1: Abore Phase 2 drilling intercepts table 1,2,3 Notes: 1. Intervals reported are hole lengths with true width estimated to be 80%-90%. 2. Intervals are not top cut and are calculated with the assumptions of > 0.5 g/t and < 3m of internal waste. 3. All samples are taken from diamond core. Qualified Person and QA/QC Chris Pettman, P. Geo, Vice President Exploration of Galiano, is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Pettman is responsible for all aspects of the work, including the Data Verification and Quality Control/Quality Assurance programs and has verified the data disclosed, by reviewing all data and supervising its compilation. There are no known factors that could materially affect the reliability of data collected and verified under his supervision. No quality assurance/quality control issues have been identified to date. Mr. Pettman is not independent of Galiano. Certified Reference Materials and Blanks are inserted by Galiano into the sample stream at the rate of 1:14 samples. Field duplicates are collected at the rate of 1:30 samples. All samples have been analyzed by Photon assay by Intertek Minerals Ltd. ("Intertek") in Tarkwa, Ghana with standard preparation methods. ChrysosTM Photon assay uses high energy X-ray to activate gold nuclei in a large sample ca. 500g. Photon assay uses a larger sample, thus the variance on the sampling error is less. Crushing the sample to 2-3mm is required in many cases. Photon assay tends to have a higher detection limit than fire assay (0.02ppm). Intertek does its own introduction of QA/QC samples into the sample stream and reports them to Galiano for double checking. Higher grade samples are re-analysed from pulp or reject material or both. Intertek is an international company operating in 100 countries and is independent of Galiano. It provides testing for a wide range of industries including the mining, metals, and oil sectors. About Galiano Gold Inc. Galiano is focused on creating a sustainable business capable of value creation for all stakeholders through production, exploration and disciplined deployment of its financial resources. The Company owns and operates the Asanko Gold Mine, which is located in Ghana, West Africa. Galiano is committed to the highest standards for environmental management, social responsibility, and the health and safety of its employees and neighbouring communities. For more information, please visit Cautionary Note Regarding Forward-Looking Statements Certain statements and information contained in this news release constitute "forward-looking statements" within the meaning of applicable U.S. securities laws and "forward-looking information" within the meaning of applicable Canadian securities laws, which we refer to collectively as "forward-looking statements". Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future conditions and courses of action. All statements and information other than statements of historical fact may be forward looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking statements in this news release include, but are not limited to statements regarding the Company's expectations and timing with respect to current and planned drilling programs at Abore, and the results thereof; the potential to optimize and/or expand the Abore Reserve pit and the resulting impact on mineral reserves and ore delivery; the Company's belief in the potential of Abore; and the Company's plans to update the mineral resources and mineral reserves and timing of release of production and cost guidance. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited to: development plans and capital expenditures; the price of gold will not decline significantly or for a protracted period of time; the accuracy of the estimates and assumptions underlying mineral reserve and mineral resource estimates; the Company's ability to raise sufficient funds from future equity financings to support its operations, and general business and economic conditions; the global financial markets and general economic conditions will be stable and prosperous in the future; the ability of the Company to comply with applicable governmental regulations and standards; the mining laws, tax laws and other laws in Ghana applicable to the AGM will not change, and there will be no imposition of additional exchange controls in Ghana; the success of the Company in implementing its development strategies and achieving its business objectives; the Company will have sufficient working capital necessary to sustain its operations on an ongoing basis and the Company will continue to have sufficient working capital to fund its operations; and the key personnel of the Company will continue their employment. The foregoing list of assumptions cannot be considered exhaustive. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those anticipated in such forward-looking statements. The Company believes the expectations reflected in such forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and you are cautioned not to place undue reliance on forward-looking statements contained herein. Some of the risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements contained in this news release, include, but are not limited to: mineral reserve and mineral resource estimates may change and may prove to be inaccurate; metallurgical recoveries may not be economically viable; life of mine estimates are based on a number of factors and assumptions and may prove to be incorrect; actual production, costs, returns and other economic and financial performance may vary from the Company's estimates in response to a variety of factors, many of which are not within the Company's control; inflationary pressures and the effects thereof; the AGM has a limited operating history and is subject to risks associated with establishing new mining operations; sustained increases in costs, or decreases in the availability, of commodities consumed or otherwise used by the Company may adversely affect the Company; adverse geotechnical and geological conditions (including geotechnical failures) may result in operating delays and lower throughput or recovery, closures or damage to mine infrastructure; the ability of the Company to treat the number of tonnes planned, recover valuable materials, remove deleterious materials and process ore, concentrate and tailings as planned is dependent on a number of factors and assumptions which may not be present or occur as expected; the Company's mineral properties may experience a loss of ore due to illegal mining activities; the Company's operations may encounter delays in or losses of production due to equipment delays or the availability of equipment; outbreaks of COVID-19 and other infectious diseases may have a negative impact on global financial conditions, demand for commodities and supply chains and could adversely affect the Company's business, financial condition and results of operations and the market price of the common shares of the Company; the Company's operations are subject to continuously evolving legislation, compliance with which may be difficult, uneconomic or require significant expenditures; the Company may be unsuccessful in attracting and retaining key personnel; labour disruptions could adversely affect the Company's operations; recoveries may be lower in the future and have a negative impact on the Company's financial results; the lower recoveries may persist and be detrimental to the AGM and the Company; the Company's business is subject to risks associated with operating in a foreign country; risks related to the Company's use of contractors; the hazards and risks normally encountered in the exploration, development and production of gold; the Company's operations are subject to environmental hazards and compliance with applicable environmental laws and regulations; the effects of climate change or extreme weather events may cause prolonged disruption to the delivery of essential commodities which could negatively affect production efficiency; the Company's operations and workforce are exposed to health and safety risks; unexpected costs and delays related to, or the failure of the Company to obtain, necessary permits could impede the Company's operations; the Company's title to exploration, development and mining interests can be uncertain and may be contested; geotechnical risks associated with the design and operation of a mine and related civil structures; the Company's properties may be subject to claims by various community stakeholders; risks related to limited access to infrastructure and water; risks associated with establishing new mining operations; the Company's revenues are dependent on the market prices for gold, which have experienced significant recent fluctuations; the Company may not be able to secure additional financing when needed or on acceptable terms; the Company's shareholders may be subject to future dilution; risks related to changes in interest rates and foreign currency exchange rates; risks relating to credit rating downgrades; changes to taxation laws applicable to the Company may affect the Company's profitability and ability to repatriate funds; risks related to the Company's internal controls over financial reporting and compliance with applicable accounting regulations and securities laws; risks related to information systems security threats; non-compliance with public disclosure obligations could have an adverse effect on the Company's stock price; the carrying value of the Company's assets may change and these assets may be subject to impairment charges; risks associated with changes in reporting standards; the Company may be liable for uninsured or partially insured losses; the Company may be subject to litigation; damage to the Company's reputation could result in decreased investor confidence and increased challenges in developing and maintaining community relations which may have adverse effects on the business, results of operations and financial conditions of the Company and the Company's share price; the Company may be unsuccessful in identifying targets for acquisition or completing suitable corporate transactions, and any such transactions may not be beneficial to the Company or its shareholders; the Company must compete with other mining companies and individuals for mining interests; the Company's growth, future profitability and ability to obtain financing may be impacted by global financial conditions; the Company's common shares may experience price and trading volume volatility; the Company has never paid dividends and does not expect to do so in the foreseeable future; the Company's shareholders may be unable to sell significant quantities of the Company's common shares into the public trading markets without a significant reduction in the price of its common shares, or at all; and the risk factors described under the heading "Risk Factors" in the Company's Annual Information Form. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in the forward-looking statements, you are cautioned that this list is not exhaustive and there may be other factors that the Company has not identified. Furthermore, the Company undertakes no obligation to update or revise any forward-looking statements included in, or incorporated by reference in, this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
