Latest news with #Aion
Yahoo
30-05-2025
- Business
- Yahoo
Forge increases stake in Aion Mining to 80%
Forge Resources has completed the acquisition of an additional 20% interest in Aion Mining, raising its total ownership to 80%. In February, the company had already increased its stake to 60% of Aion Mining's post-issuance common shares on a fully diluted basis. Following the amended and restated anti-dilution agreement and a notice to Aion and its shareholders, Forge Resources exercised an option to purchase 3.9 million shares, representing the additional 20% interest. Forge Resources CEO PJ Murphy said: 'Securing 80% ownership of the fully permitted La Estrella coal project marks a major milestone for Forge Resources, setting the stage for sustained success ahead of anticipated revenue from the planned bulk sample. 'Strategically structuring this acquisition with shares and promissory notes ensures the company maintains financial flexibility while driving growth. This move reinforces our commitment to expanding in the mining sector and advancing our vision for sustainable growth." The transaction involved a payment of $2.3m to the shareholders, proportionate to their shareholdings. This sum consisted of 2.2 million common shares of Forge Resources, valued at $0.71 each, and $713,966 paid through an unsecured, interest-bearing promissory note to each shareholder. The promissory notes carry an annual interest rate of 6.5% and will mature on the earlier of two specific events: the two-year anniversary of the note or the completion of the company's hard dollar financings that total at least $3m. Furthermore, Forge Resources has revised its flow-through private placement, previously announced on 16 May 2025. The unit price in the private placement is now set at $0.66, with the goal to raise $1m unchanged, leading to an increase in the number of units offered from 1,162,790 to 1,515,152. Each unit in the private placement comprises one flow-through common share and half of one transferable non-flow-through common share purchase warrant. The gross proceeds from the private placement will continue to fund Canadian exploration expenses and flow-through mining expenditures, as initially planned. "Forge increases stake in Aion Mining to 80%" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
30-05-2025
- Business
- Yahoo
Forge increases stake in Aion Mining to 80%
Forge Resources has completed the acquisition of an additional 20% interest in Aion Mining, raising its total ownership to 80%. In February, the company had already increased its stake to 60% of Aion Mining's post-issuance common shares on a fully diluted basis. Following the amended and restated anti-dilution agreement and a notice to Aion and its shareholders, Forge Resources exercised an option to purchase 3.9 million shares, representing the additional 20% interest. Forge Resources CEO PJ Murphy said: 'Securing 80% ownership of the fully permitted La Estrella coal project marks a major milestone for Forge Resources, setting the stage for sustained success ahead of anticipated revenue from the planned bulk sample. 'Strategically structuring this acquisition with shares and promissory notes ensures the company maintains financial flexibility while driving growth. This move reinforces our commitment to expanding in the mining sector and advancing our vision for sustainable growth." The transaction involved a payment of $2.3m to the shareholders, proportionate to their shareholdings. This sum consisted of 2.2 million common shares of Forge Resources, valued at $0.71 each, and $713,966 paid through an unsecured, interest-bearing promissory note to each shareholder. The promissory notes carry an annual interest rate of 6.5% and will mature on the earlier of two specific events: the two-year anniversary of the note or the completion of the company's hard dollar financings that total at least $3m. Furthermore, Forge Resources has revised its flow-through private placement, previously announced on 16 May 2025. The unit price in the private placement is now set at $0.66, with the goal to raise $1m unchanged, leading to an increase in the number of units offered from 1,162,790 to 1,515,152. Each unit in the private placement comprises one flow-through common share and half of one transferable non-flow-through common share purchase warrant. The gross proceeds from the private placement will continue to fund Canadian exploration expenses and flow-through mining expenditures, as initially planned. "Forge increases stake in Aion Mining to 80%" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
25-05-2025
- Automotive
- Business Times
Thailand widens EV perks as Japan-China auto rivalry heats up
[BANGKOK] With Thailand's auto sales plunging by more than 25 per cent amid geopolitical headwinds and regional rivals nipping at its heels, Bangkok is racing to secure its status as South-east Asia's electric vehicle (EV) hub – rolling out broader tax incentives to keep both Chinese and Japanese carmakers onside. The Thai government recently sweetened the pot of tax and other incentives to cover all types of EVs, including hybrid EVs (HEVs), plug-in hybrid EVs (PHEVs), and mild hybrid EVs (MHEVs). Observers said the latest policy enhancement that cover a wide range of electric and hybrid vehicles – known as xEV – is intended in part to placate non-Chinese players in the market, particularly Japan's auto giants. Thailand Board of Investment (BOI) has been aggressively promoting battery EVs (BEVs) since 2022 with some success. Influx of Chinese BEVs Chinese auto brands such as Aion, BYD, Changan, Chery, Foton, Great Wall, Neta and MG (owned by SAIC Motor – a Chinese joint venture with Thailand's Charoen Pokphand Group) have already set up plants in Thailand. But the influx of Chinese BEVs has rattled Japanese carmakers – including Toyota, Honda, Nissan, Mazda and Mitsubishi – which have long dominated Thailand's car market with more than 90 per cent share. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up 'For the past four years, the government has mainly pushed BEVs. So many Chinese companies came to Thailand, and the existing players were not pleased with that, especially the Japanese,' said Kunat Tharasrisuthi, an analyst at Global Data, an international market research company. 'That's why (the government) had to make some changes,' he added. New tax incentives Last December, Thailand's National EV Board, chaired by Prime Minister Paetongtarn Shinawatra, announced a new package of tax incentives and regulations to promote more local production of HEVs, PHEVs and MHEVs. The package was recently approved by the Cabinet and will go into effect in early 2026. 'This policy is to make sure that Thailand would be a production hub of xEV for the world,' said BOI secretary-general Narit Therdsteerasukdi. 'We tailor-made the incentive package according to the different characteristics and demands of each (EV) segment,' he added. BOI secretary-general Narit Therdsteerasukdi says the government wants to make sure that 'Thailand would be a production hub of xEV for the world'. PHOTO: PETER JANSSEN, BT While the Japanese carmakers have lagged behind their Chinese counterparts in innovating cutting edge BEV technology, they have been more successful in launching HEV and PHEV models, which rely partly on traditional internal combustion engine (ICE) technology. Japanese auto executives tend to justify this slow path to BEVs by citing customer preferences. 'Currently demand for hybrids is bigger, much bigger than demand for BEVs, so we are focused on hybrids,' said Noriaki Yamashita, president of Toyota Motors/Thailand. 'As BEV demand increases, we will focus on BEVs,' he told The Business Times. In 2024, Thailand's car sales reached 572,675 units, down 26 per cent year on year. HEVs accounted for 21 per cent of total sales, BEVs accounted for 13 per cent and PHEVs for 2 per cent, according to Toyota Motors Research. While BEVs sales slowed in 2024, that was partly because they jumped 320 per cent year on year in 2023, as new Chinese models came on the market at prices considerably below their Japanese ICE rivals. BEVs accounted for between 70,000 and 73,000 units in 2024 to 2025. Thailand's effort to promote itself as an EV production hub follows similar model-focused tax incentive policies of the past. The kingdom's first champion model was the one-tonne pickup – the most popular vehicle on the Thai market (usually 50 per cent of sales) which has lured all the main Japanese pickup manufacturers such as Toyota, Isuzu, Nissan, Mitsubishi and Mazda to relocate their factories to Thailand, for the domestic and export markets. Thereafter, the BOI promoted local manufacturing of the 'eco cars', small passenger cars with petrol-efficient engines and low carbon emissions. Localisation efforts While providing promotional privileges to local manufacturers of pickups and eco cars, the government also put in place localisation requirements, to build up Thailand's domestic supply chain (there are over 2,000 auto parts suppliers). Japanese pickups manufactured in Thailand now use about 92 per cent locally sourced parts and components, and 88 per cent for eco car models. But as Thailand now pushes for localisation of the supply chain for xEVs, it is likely to face stiffer competition from Thailand's regional rivals such as Indonesia and Malaysia, which are also pushing for EV hub status and enjoy more dynamic domestic markets. 'We think in the short-term Thailand is likely to maintain its status as the leading automotive hub in South-east Asia, but it is facing challenges from other countries in the longer-term horizon, for example Indonesia,' said Claire Yuan, an automotive industry analyst at S&P Global Ratings. Thailand's domestic market for cars has dropped from one million per annum, prior to the Covid-19 pandemic, to around 570,000 units per annum during 2024/2025. Domestic production of automobiles (for both the domestic and export markets) has dropped from two million pre-Covid to about 1.5 million, expected in 2025. Car sales in Indonesia's domestic market last year reached about 900,000 units. Thailand's past policies of promoting pickup and eco-car production were backed by a robust domestic sales market, together with healthy exports, but the current situation of slow domestic sales in most categories could hinder xEV localisation efforts, executives warned. 'It is clear that you have to establish your production footprint where you have a sizeable domestic market,' said Martin Schwenk, president of Mercedes-Benz (Thailand). 'That is the core strategy for everyone. In Thailand, with the domestic market under pressure, it makes it very hard to localise at a high level here and to export from here.'
Forbes
13-05-2025
- Entertainment
- Forbes
New MMORPG Aion 2 Coming This Year, Built In Unreal Engine 5
Aion 2 NCSoft originally confirmed Aion 2 was in development nearly seven years ago way back in 2018, but just this week have finally started whispering about some big news to come soon. Later this month on May 29 a big livestream debut is scheduled and in the lead up to that moment we finally have some fresh details. Namely, we should be expecting a global release later this year (reportedly) and we already know it's being built in Unreal Engine 5. By way of a new official teaser website, reporting from Korea IT Times, and a bit of Google Translate work on my part, I think we have some (relatively) concrete details on what to expect from Aion 2 when it launches globally in 2025. I've got the teaser clip which was uploaded to YouTube embedded here: The original Aion from NCSoft first released back in 2008 for Korea and 2009 for the rest of the world and it ascended into the ranks of MMO royalty very quickly. Utilizing a unique (at the time) approach to combining PvP and PvE elements, prominent realm vs. realm factions, and extremely open-ended level design with full-flight functionality, it broke a lot of ground for the MMORPG genre and maintained a sizable audience for many years. From what we've seen and heard, Aion 2 is using Unreal Engine 5 to ensure extremely high-quality visuals and will likely lean on its roots as a hybrid approach of both PvE and PvP content. According to Aion Strategies back in December of last year, it's expected to feature a monetization strategy similar to Throne and Liberty. It's also reportedly shifting away from the relatively traditional tab-targeting method of most of its games such as Lineage, Aion, and Throne and Liberty in favor of something more action-oriented and fast-paced, perhaps similar to games such as Black Desert Online. FEATURED | Frase ByForbes™ Unscramble The Anagram To Reveal The Phrase Pinpoint By Linkedin Guess The Category Queens By Linkedin Crown Each Region Crossclimb By Linkedin Unlock A Trivia Ladder If you've followed the MMO market to any level over the years, NCSoft should be a name you're very familiar with. They've got their hands in a huge chunk of the industry dating back to 1998 with the original Lineage and now spanning the likes of Guild Wars, Blade & Soul, Throne and Liberty, Aion of course, and many other properties, like the deceased City of Heroes. It's worth mentioning that, in the past when Aion 2 was first unveiled, it was labeled as a mobile MMORPG. It's unclear if that's still the plan, or if perhaps it will be cross-platform between PC and mobile such as other recent MMO games like Tarisland.
Associated Press
30-04-2025
- Business
- Associated Press
Cross River Expands Borderless Finance with Launch of International Payments Powered by Smart-Routing
FORT LEE, N.J.--(BUSINESS WIRE)--Apr 30, 2025-- Cross River Bank ('Cross River'), a technology infrastructure provider that offers embedded financial solutions, today announced the launch of its new International Payments solution, now processing transactions with Aion, a modern business finance platform designed to simplify financial management. Leveraging Cross River's proprietary banking core, API technology, and industry-leading compliance and AML/CFT integrations, this new International Payments solution offers seamless, efficient, and cost-effective cross-border transactions for businesses. With the demand for cross-border payments increasing, and the market forecasted to reach $320tn by 2032, the need for efficient and secure international payment systems is increasingly important. Cross River's International Payments platform is rail-agnostic, dynamically selecting the most relevant payment rails based on transaction size, currency, and corridor. This ensures businesses and consumers benefit from faster processing times so consumers receive their money when and where they need it. 'Our goal is to simplify cross-border payments by removing technical barriers that limit global scalability,' said Luca Cosentino, Head of Product at Cross River. 'Our International Payments capability uses a flexible, rail-agnostic approach to enable fast, cost-effective, and secure transfers—whether through SWIFT or local bank rails. This milestone not only marks a significant advancement in our infrastructure but also sets the stage for future real-time global payment solutions that help our partners deliver seamless international experiences.' Cross River's solution offers businesses a range of payment pathways—from SWIFT for secure, standardized cross-border transactions to local bank rails optimized for domestic B2B and B2C transfers. The capability initially enables cross-border payments for fintechs and SMBs, B2B and B2C transfers, funding operating accounts and subsidiary payments back to parent companies. An early adopter of Cross River's International Payments is Aion, a modern business finance platform designed to simplify financial management. Cross River and Aion have previously partnered to enable instant payments domestically via RTP ® and FedNow ®, as well as traditional methods such as ACH, same-day ACH and Wires. Cross River also provides business banking accounts through Aion, including a High-Yield Business Account *. Aion's commercial-grade all-in-one banking solution helps streamline business payments, now internationally with Cross River's solution. 'SMBs are the backbone of the global economy, yet they've long faced high costs and delays when paying international suppliers or remote teams,' said Satish Palvai, Founder and CEO at Aion. With Cross River's International Payments, we're leveling the playing field by giving growing businesses access to the same speed and efficiency once reserved only for large enterprises.' With strict adherence to regulatory standards, Cross River's International Payments platform integrates advanced anti-money laundering (AML) tools and compliance solutions. Fully routable subledgers and detailed customer records allow businesses to monitor transactions on a sub-entity level, ensuring security and reliability. This launch marks just the beginning of the Bank's commitment to powering borderless finance. Cross River will continue to invest in expanding supported use cases, countries, and currencies—enhancing the infrastructure to meet the evolving needs of fintech partners and enabling more businesses and consumers to move money globally with speed, security, and confidence. About Cross River Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, and lending solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world's most essential fintech and technology companies. Leading the industry, Cross River is reshaping global finance and financial inclusion. Member FDIC. Find out more at About Aion Aion is a modern business finance platform, designed to simplify financial management. The company's mission is to enable business owners and finance professionals to focus on building and growing their businesses, while AI-powered software handles the rest. The Aion's platform is founded on the principles of customer-centric exceptional design, simplicity, and transparency. Find out more at For press inquiries, please contact Christopher Basso at [email protected]. *Aion is a financial technology company, not a bank. Banking Services provided by Cross River Bank, Member FDIC. Aion accounts are FDIC insured up to $250,000 per depositor through Cross River Bank, Member FDIC. Banking Services for payments made via ACH or wire from the Aion Business Checking Account are provided by Cross River Bank, Member FDIC. The Aion Business Debit Visa® is issued by Cross River Bank, Member FDIC pursuant to a license from Visa, Inc., and may be used everywhere Visa is accepted. View source version on CONTACT: Media Contact: Mackenzie DeLuca [email protected] 201-808-7000 x 778 KEYWORD: UNITED STATES NORTH AMERICA NEW JERSEY INDUSTRY KEYWORD: SOFTWARE PAYMENTS FINANCE ARTIFICIAL INTELLIGENCE BANKING PROFESSIONAL SERVICES TECHNOLOGY FINTECH SOURCE: Cross River Bank Copyright Business Wire 2025. PUB: 04/30/2025 08:30 AM/DISC: 04/30/2025 08:29 AM
