Latest news with #Greenstone
CTV News
23-05-2025
- CTV News
Northwestern Ont. suspect charged with murder
A 19-year-old woman from Greenstone, Ont., has been charged with second-degree murder, Ontario Provincial Police said Friday. (Source: OPP)
Yahoo
15-05-2025
- Business
- Yahoo
AM Best Affirms Credit Ratings of Pinnacle Life Limited
SINGAPORE, May 15, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" (Good) of Pinnacle Life Limited (Pinnacle Life) (New Zealand). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Pinnacle Life's balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). The ratings also factor in a neutral impact from the company's ultimate parent, Greenstone Holdco Pty Limited (Greenstone). Pinnacle Life's balance sheet strength is underpinned by its risk-adjusted capitalisation, which was at the strongest level at fiscal year-end 2024, as measured by Best's Capital Adequacy Ratio (BCAR), and is expected to remain at that level over the medium term. The company's balance sheet strength assessment also reflects its appropriate regulatory solvency and good financial flexibility, supported by its parent, Greenstone. Additionally, the balance sheet strength assessment has factored in the company's high reliance on third-party reinsurance and small capital base, which increase the sensitivity of its capital adequacy to outsized new business growth, changes in the interest rate environment, and shock events. AM Best assesses Pinnacle Life's operating performance as adequate. The company's operating results have been driven by the adequate underwriting performance of its in-force life business and healthy investment returns. Overall earnings have exhibited moderate volatility over the past five years, mainly due to interest rate movements and elevated expenses. Prospectively, operating performance is expected to remain adequate while the company continues to execute its expansion plan, supported by robust underwriting growth and an appropriate pricing strategy over the medium term, while leveraging the expertise of Greenstone to manage the associated underwriting risks. AM Best assesses Pinnacle Life's business profile as limited, largely reflecting the company's small scale of operations and its low product and geographic diversification in New Zealand. Key product offerings are focused on mortality products, including yearly renewable term life and funeral insurance. Greenstone remains a key distribution partner and growth driver for Pinnacle Life. The remaining business is predominantly written by Pinnacle Life's direct online channel. AM Best assesses Pinnacle Life's ERM as appropriate given the size and complexity of the company's current operations. The significant business growth is expected to introduce additional risks to the company's operations, though this will be mitigated partially by leveraging Greenstone's expertise in product development and underwriting. While AM Best considers Pinnacle Life's risk management capabilities as appropriate for its key risks, ongoing development is expected as the company expands its scope of operations. Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Ken Lau Senior Financial Analyst +65 6303 5025 Victoria Ohorodnyk Director, Analytics +65 6303 5020 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318
Business Wire
15-05-2025
- Business
- Business Wire
AM Best Affirms Credit Ratings of Pinnacle Life Limited
SINGAPORE--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of 'bbb-' (Good) of Pinnacle Life Limited (Pinnacle Life) (New Zealand). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Pinnacle Life's balance sheet strength, which AM Best assesses as adequate, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM). The ratings also factor in a neutral impact from the company's ultimate parent, Greenstone Holdco Pty Limited (Greenstone). Pinnacle Life's balance sheet strength is underpinned by its risk-adjusted capitalisation, which was at the strongest level at fiscal year-end 2024, as measured by Best's Capital Adequacy Ratio (BCAR), and is expected to remain at that level over the medium term. The company's balance sheet strength assessment also reflects its appropriate regulatory solvency and good financial flexibility, supported by its parent, Greenstone. Additionally, the balance sheet strength assessment has factored in the company's high reliance on third-party reinsurance and small capital base, which increase the sensitivity of its capital adequacy to outsized new business growth, changes in the interest rate environment, and shock events. AM Best assesses Pinnacle Life's operating performance as adequate. The company's operating results have been driven by the adequate underwriting performance of its in-force life business and healthy investment returns. Overall earnings have exhibited moderate volatility over the past five years, mainly due to interest rate movements and elevated expenses. Prospectively, operating performance is expected to remain adequate while the company continues to execute its expansion plan, supported by robust underwriting growth and an appropriate pricing strategy over the medium term, while leveraging the expertise of Greenstone to manage the associated underwriting risks. AM Best assesses Pinnacle Life's business profile as limited, largely reflecting the company's small scale of operations and its low product and geographic diversification in New Zealand. Key product offerings are focused on mortality products, including yearly renewable term life and funeral insurance. Greenstone remains a key distribution partner and growth driver for Pinnacle Life. The remaining business is predominantly written by Pinnacle Life's direct online channel. AM Best assesses Pinnacle Life's ERM as appropriate given the size and complexity of the company's current operations. The significant business growth is expected to introduce additional risks to the company's operations, though this will be mitigated partially by leveraging Greenstone's expertise in product development and underwriting. While AM Best considers Pinnacle Life's risk management capabilities as appropriate for its key risks, ongoing development is expected as the company expands its scope of operations. Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
Yahoo
15-04-2025
- Business
- Yahoo
Holding(s) in Company
Holdings in Company Serabi Gold plc ('Serabi' or the 'Company') (AIM:SRB, TSX:SBI, OTCQX:SRBIF), the Brazilian focused gold mining and development company, announces it has been informed that Greenstone Resources II LP ('Greenstone'), an existing shareholder in the Company, has entered into a binding agreement to sell 15,146,902 shares (representing approximately 19.99% of the issued share capital of the Company) to Classe Roca Magma Multiestrategia Responsabilidade Limitada do SSF IV Coinvestmento I Fundo de Investimento em Participações an investment fund managed by Starboard Asset Ltda ('Starboard'). Starboard is a leading private equity firm in Brazil. Serabi has been informed by Greenstone that the share sale and purchase agreement between Greenstone and Starboard (the 'Agreement') is unconditional and is expected to be completed within a few weeks. Mr Mike Hodgson, CEO of Serabi commented, 'Greenstone have been a long standing and highly supportive shareholder, but given recent share price performance, I recognise their desire to monetise some of their investment when an opportunity arises. Starboard have been known to Serabi for some time and with their Brazilian footprint, will, I am sure, be an excellent shareholder for the Company. A spokesperson for Starboard commented 'We are thrilled to have this opportunity to become an investor in Serabi, acquiring just under 20% of the Company through this private transaction with Greenstone. We would like to express our appreciation for Greenstone's long-standing commitment and support to Serabi over the years. We feel that with our local knowledge and experience we can bring a complementary perspective at the shareholder level. 'Over the past two years, we have been closely following Serabi's impressive operational progress. Starboard's intention is to support the management and reinforce the existing strategy, contributing to Serabi's future and to value creation for all stakeholders.' Assuming the Agreement is completed Greenstone will continue to own 3,936,492 shares representing 5.20% of the issued share capital of the Company. Starboard will own 15,146,902 shares representing 19.9999% of the issued share capital of the Company. About Serabi Gold plcSerabi Gold plc is a gold exploration, development and production company focused on the prolific Tapajós region in Para State, northern Brazil. The Company has consistently produced 30,000 to 40,000 ounces per year with the Palito Complex and is planning to double production in the coming years with the construction of the Coringa Gold project. Serabi Gold plc recently made a copper-gold porphyry discovery on its extensive exploration licence. The Company is headquartered in the United Kingdom with a secondary office in Toronto, Ontario, Canada. The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018. The person who arranged for the release of this announcement on behalf of the Company was Andrew Khov, Vice President, Investor Relations & Business Development. Enquiries SERABI GOLD plcMichael Hodgson t +44 (0)20 7246 6830Chief Executive m +44 (0)7799 473621 Andrew Khov m +1 647 885 4874Vice President, Investor Relations & Business Development e contact@ BEAUMONT CORNISH LimitedNominated Adviser & Financial AdviserRoland Cornish / Michael Cornish t +44 (0)20 7628 3396 PEEL HUNT LLPJoint UK BrokerRoss Allister t +44 (0)20 7418 9000 TAMESIS PARTNERS LLPJoint UK BrokerCharlie Bendon/ Richard Greenfield t +44 (0)20 3882 2868 CAMARCOFinancial PR - EuropeGordon Poole / Emily Hall t +44 (0)20 3757 4980 HARBOR ACCESS Financial PR – North AmericaJonathan Patterson / Lisa Micali t +1 475 477 9404 Copies of this announcement are available from the Company's website at See for more information and follow us on twitter @Serabi_Gold Assay ResultsAssay results reported within this release include those provided by the Company's own on-site laboratory facilities at Palito and have not yet been independently verified. Serabi closely monitors the performance of its own facility against results from independent laboratory analysis for quality control purpose. As a matter of normal practice, the Company sends duplicate samples derived from a variety of the Company's activities to accredited laboratory facilities for independent verification. Since mid-2019, over 10,000 exploration drill core samples have been assayed at both the Palito laboratory and certified external laboratory, in most cases the ALS laboratory in Belo Horizonte, Brazil. When comparing significant assays with grades exceeding 1 g/t gold, comparison between Palito versus external results record an average over-estimation by the Palito laboratory of 6.7% over this period. Based on the results of this work, the Company's management are satisfied that the Company's own facility shows sufficiently good correlation with independent laboratory facilities for exploration drill samples. The Company would expect that in the preparation of any future independent Reserve/Resource statement undertaken in compliance with a recognized standard, the independent authors of such a statement would not use Palito assay results without sufficient duplicates from an appropriately certificated laboratory. Forward-looking statementsCertain statements in this announcement are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', 'should' ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. Several factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements. Qualified Persons StatementThe scientific and technical information contained within this announcement has been reviewed and approved by Michael Hodgson, a Director of the Company. Mr Hodgson is an Economic Geologist by training with over 30 years' experience in the mining industry. He holds a BSc (Hons) Geology, University of London, a MSc Mining Geology, University of Leicester and is a Fellow of the Institute of Materials, Minerals and Mining and a Chartered Engineer of the Engineering Council of UK, recognizing him as both a Qualified Person for the purposes of Canadian National Instrument 43-101 and by the AIM Guidance Note on Mining and Oil & Gas Companies dated June 2009. NoticeBeaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it. Neither the Toronto Stock Exchange, nor any other securities regulatory authority, has approved or disapproved of the contents of this news releaseSign in to access your portfolio
Associated Press
17-03-2025
- Business
- Associated Press
Namib Minerals and Hennessy Capital Investment Corp. VI Announce Effectiveness of Registration Statement and Record and Meeting Dates for Special Meeting of Stockholders to Approve Proposed Business Combination
- The U.S. Securities and Exchange Commission ('SEC') has declared effective the registration statement on Form F-4 (File No. 333-283650) (as amended, the 'Registration Statement') filed by Namib Minerals and co-registrant Greenstone Corporation ('Greenstone') - - Special meeting of stockholders of Hennessy Capital Investment Corp. VI (NASDAQ: HCVI) ('HCVI') to approve proposed business combination with Namib Minerals and Greenstone (the 'Business Combination') to be held on April 7, 2025 - - Record date for the special meeting is February 18, 2025 - - Upon closing, combined company stock and warrants will trade on Nasdaq under 'NAMM' and 'NAMMW' ticker symbols - New York, New York, March 17, 2025 (GLOBE NEWSWIRE) -- Namib Minerals, Greenstone, an affiliate of Namib Minerals and an established African gold producer with an attractive portfolio of mining and exploration assets in Zimbabwe and the Democratic Republic of Congo ('DRC'), and HCVI, a Nasdaq listed special purpose acquisition company, today announced that the SEC has declared effective the Registration Statement, which includes a definitive proxy statement/prospectus in connection with HCVI's special meeting of stockholders (the 'Special Meeting') to approve the Business Combination. The Business Combination is expected to result in Namib Minerals listing its ordinary shares and warrants on Nasdaq under the ticker symbols 'NAMM' and 'NAMMW,' respectively, subject to approval of its listing application. Additionally, HCVI today announced that it has set a record date of February 18, 2025 (the 'Record Date') and meeting date of April 7, 2025 for the Special Meeting. Daniel Hennessy, Chairman & Chief Executive Officer of HCVI said, 'We are pleased to reach this significant milestone in the transaction process, and we're pleased to present the Business Combination to our stockholders. Namib Minerals and its affiliates have a strong asset portfolio and is well-positioned to become a leader in precious and critical metals production in Africa. We look forward to working with the Greenstone team to achieve a successful Business Combination.' 'Greenstone Corporation, the proposed operating arm of Namib Minerals, is an established gold producer with three mines in Zimbabwe and an interest in 13 copper and cobalt exploration licenses in the DRC,' said Ibrahima Tall, Chief Executive Officer and Director of Namib Minerals. 'With the effectiveness of the Form F-4, we are one step closer to advancing our growth strategy and unlocking significant shareholder value as a multi-asset producer in Africa.' HCVI's stockholders of record at the close of business on the Record Date are entitled to receive notice of the Special Meeting and to vote the shares of common stock of HCVI owned by them at the Special Meeting. The Special Meeting will be held virtually. In connection with the Special Meeting, HCVI's stockholders that wish to exercise their redemption rights must do so no later than 5:00 p.m. Eastern Time on April 3, 2025 by following the procedures specified in the definitive proxy statement/prospectus for the Special Meeting. There is no requirement that stockholders affirmatively vote for or against the Business Combination at the Special Meeting in order to redeem their shares for cash. As announced previously, upon completion of the Business Combination, HCVI and Greenstone will each become a direct wholly-owned subsidiary of Namib Minerals, and Namib Minerals will become a publicly traded company, with its ordinary shares and warrants expected to trade on the Nasdaq Global Market under the ticker symbols 'NAMM' and 'NAMMW,' respectively. At the closing of the Business Combination, each HCVI unit will separate into its components consisting of one share of HCVI's common stock and one-third of one warrant and, as a result, will no longer trade as a separate security. The Record Date determines the holders of HCVI's common stock entitled to receive notice of and to vote at the Special Meeting, and at any adjournment or postponement thereof, whereby stockholders will be asked to approve and adopt the Business Combination, and such other proposals as disclosed in the definitive proxy statement included in the Registration Statement. If the Business Combination is approved by HCVI stockholders, HCVI anticipates closing the Business Combination shortly after the Special Meeting, subject to the satisfaction or waiver (as applicable) of all other closing conditions. The Special Meeting will take place at 9:00 a.m., Eastern Time, on April 7, 2025 via a virtual meeting at the following address: HCVI stockholders entitled to vote at the Special Meeting will need the 12-digit meeting control number that is printed on their respective proxy cards to enter the Special Meeting. HCVI recommends that its stockholders wishing to vote at the Special Meeting log in at least 15 minutes before the Special Meeting starts. Please note that HCVI stockholders will not be able to attend the Special Meeting in person. HCVI encourages its stockholders entitled to vote at the Special Meeting to vote their shares via proxy in advance of the Special Meeting by following the instructions on the proxy card. A list of HCVI stockholders entitled to vote at the Special Meeting will be open to the examination of any HCVI stockholder, for any purpose germane to the Special Meeting, during regular business hours for a period of ten calendar days before the Special Meeting. About Greenstone Corporation and Namib Minerals Greenstone is a gold producer, developer and explorer with operations focused in Zimbabwe. Greenstone is a significant player in Zimbabwe's mining industry, driving sustainable growth and innovation across the sector. Currently Greenstone operates an underground mine in Zimbabwe, with additional exploration assets in Zimbabwe and the DRC. Greenstone operates using conventional mining, as well as modern processes and is seeking alternative areas of growth. Upon the closing of the Business Combination, Namib Minerals will hold all of Greenstone's assets. For additional information, please visit About Hennessy Capital Investment Corp. VI Hennessy Capital Investment Corp. VI is a special purpose acquisition company (SPAC) listed on the Nasdaq Global Market (NASDAQ: HCVI). HCVI was formed by Daniel J. Hennessy for the purpose of acquiring, and introducing to the public markets, a strong and competitive company operating in the industrial sector. For additional information, please visit Important Information for Investors and Stockholders In connection with the Business Combination, Namib Minerals and Greenstone, as co-registrant, have filed with the SEC the Registration Statement, which includes a prospectus with respect to Namib Minerals' securities to be issued in connection with the Business Combination and a proxy statement to be distributed to holders of HCVI's common stock in connection with HCVI's solicitation of proxies for the vote by HCVI's stockholders with respect to the Business Combination and other matters to be described in the Registration Statement (the 'Proxy Statement'). The SEC declared the Registration Statement effective on March 14, 2025, and HCVI has filed the definitive Proxy Statement with the SEC and will be mailing copies to stockholders of HCVI as of the Record Date. This press release does not contain all the information that should be considered concerning the Business Combination and is not a substitute for the Registration Statement, the Proxy Statement or for any other document that Namib Minerals or HCVI has or may file with the SEC. Before making any investment or voting decision, investors and security holders of HCVI and Greenstone are urged to read the Registration Statement and the Proxy Statement, and any amendments or supplements thereto, as well as all other relevant materials filed or that will be filed with the SEC in connection with the Business Combination as they become available because they will contain important information about Greenstone, HCVI, Namib Minerals and the Business Combination. Investors and security holders will be able to obtain free copies of the Registration Statement, the Proxy Statement and all other relevant documents filed or that will be filed with the SEC by Namib Minerals and HCVI through the website maintained by the SEC at In addition, the documents filed by Namib Minerals and HCVI may be obtained free of charge from HCVI's website at or by directing a request to Nicholas Geeza, Chief Financial Officer, PO Box 1036, 195 US Hwy 50, Suite 309, Zephyr Cove, Nevada 89448; Tel: (775) 339-1671. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release. Participants in the Solicitation Greenstone, HCVI, Namib Minerals and their respective directors, executive officers and other members of management and employees may, under the rules of the SEC, be deemed to be participants in the solicitations of proxies from HCVI's stockholders in connection with the Business Combination. For more information about the names, affiliations and interests of HCVI's directors and executive officers, please refer to HCVI's annual report on Form 10-K filed with the SEC on March 29, 2024 and the Registration Statement, the Proxy Statement and other relevant materials filed with the SEC in connection with the Business Combination from time to time. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, which may, in some cases, be different than those of HCVI's stockholders generally, are included in the Registration Statement and the Proxy Statement. Stockholders, potential investors and other interested persons should read the Registration Statement and the Proxy Statement carefully before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above. Forward-Looking Statements All statements other than statements of historical facts contained in this press release, including statements regarding HCVI's, Greenstone's, or Namib Minerals' future financial position, results of operations, business strategy, and plans and objectives of their respective management teams for future operations, are forward-looking statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are also forward-looking statements. In some cases, you can identify forward-looking statements by words such as 'estimate,' 'plan,' 'project,' 'forecast,' 'intend,' 'expect,' 'anticipate,' 'believe,' 'seek,' 'strategy,' 'future,' 'opportunity,' 'may,' 'target,' 'should,' 'will,' 'would,' 'will be,' 'will continue,' 'will likely result,' 'preliminary,' or similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, without limitation, HCVI's, Greenstone's, Namib Minerals' or their respective management teams' expectations concerning the outlook for their or Namib Minerals' business, productivity, plans, and goals for future operational improvements, growth and capital investments, operational and cost performance, future market conditions, or economic performance and developments in the capital and credit markets and expected future financial performance, the restart of Greenstone's Mazowe mine and Redwing mine and related expansion plans, capital expenditure plans and timeline, the development and goals of the prospective exploration licenses in the DRC, mineral reserve and resource estimates, production and other operating results, productivity improvements, expected net proceeds, including from any PIPE investment, expected additional funding, the percentage of redemptions of HCVI's public stockholders, growth prospects and outlook of Namib Minerals' operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of Greenstone' exploration and production projects, as well as any information concerning possible or assumed future results of operations of Namib Minerals. Forward-looking statements also include statements regarding the expected benefits of the Business Combination. The forward-looking statements are based on the current expectations of the respective management teams of Greenstone and HCVI, as applicable, 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, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, (i) the risk that the Business Combination may not be completed in a timely manner or at all, which may adversely affect the price of HCVI's securities; (ii) the risk that HCVI will not seek, or otherwise fails, to extend its business combination deadline as necessary for the Business Combination to be completed; (iii) the failure to satisfy the conditions to the consummation of the Business Combination, including the adoption of the business combination agreement, dated June 17, 2024 (as amended on December 6, 2024, the 'Business Combination Agreement') by the stockholders of HCVI and Greenstone, the satisfaction of the $25 million minimum cash amount following redemptions by HCVI's public stockholders and the receipt of certain regulatory approvals; (iv) market risks, including the price of gold; (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Business Combination Agreement; (vi) the effect of the announcement or pendency of the Business Combination on Greenstone's business relationships, performance, and business generally; (vii) the outcome of any legal proceedings that may be instituted against Greenstone, Namib Minerals or HCVI related to the Business Combination Agreement or the Business Combination; (viii) failure to realize the anticipated benefits of the Business Combination; (ix) the inability to maintain the listing of HCVI's securities or to meet listing requirements and maintain the listing of Namib Minerals' securities on the Nasdaq; (x) the inability to remediate the identified material weaknesses in Greenstone's internal control over financial reporting, which, if not corrected, could adversely affect the reliability of Greenstone's and Namib Minerals' financial reporting; (xi) the risk that the price of Namib Minerals' securities may be volatile due to a variety of factors, including changes in the highly competitive industries in which Namib Minerals plans to operate, variations in performance across competitors, changes in laws, regulations, technologies, natural disasters or health epidemics/pandemics, national security tensions, and macro-economic and social environments affecting its business, and changes in the combined capital structure; (xii) the inability to implement business plans, forecasts, and other expectations after the completion of the Business Combination, identify and realize additional opportunities, and manage growth and expanding operations; (xiii) the risk that Greenstone may not be able to successfully develop its assets, including expanding the How mine, restarting and expanding its other mines in Zimbabwe or developing its exploration permits in the DRC; (xiv) 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; (xv) political and social risks of operating in Zimbabwe and the DRC; (xvi) the operational hazards and risks that Greenstone faces; and (xvii) the risk that additional financing in connection with the Business Combination may not be raised on favorable terms, in a sufficient amount to satisfy the $25 million (post-redemptions) minimum cash amount condition to the Business Combination Agreement, or at all. The foregoing list is not exhaustive, and there may be additional risks that neither HCVI nor Greenstone presently know or that HCVI and Greenstone currently believe are immaterial. You should carefully consider the foregoing factors, any other factors discussed in this press release and the other risks and uncertainties described in the 'Risk Factors' section of HCVI's Annual Report on Form 10-K for the year ended December, 31, 2023, which was filed with the SEC on March 29, 2024, the risks described in the Registration Statement, which includes the Proxy Statement, and those discussed and identified in filings made with the SEC by HCVI and Namib Minerals from time to time. Greenstone and HCVI 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. Forward-looking statements set forth in this press release speak only as of the date of this press release. None of Greenstone, HCVI, or Namib Minerals undertakes any obligation to revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs. In the event that any forward-looking statement is updated, no inference should be made that Greenstone, HCVI, or Namib Minerals will make additional updates with respect to that statement, related matters, or any other forward-looking statements. Any corrections or revisions and other important assumptions and factors that could cause actual results to differ materially from forward-looking statements, including discussions of significant risk factors, may appear, up to the consummation of the Business Combination, in HCVI's or Namib Minerals' public filings with the SEC, which are or will be (as appropriate) accessible at and which you are advised to review carefully. No Offer or Solicitation This press release shall not constitute an offer to sell or exchange, the solicitation of an offer to buy or a recommendation to purchase, any securities, or a solicitation of any vote, consent or approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale may be unlawful under the laws of such jurisdiction. No offering of securities in the Business Combination shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom. Contacts: Hennessy Capital Investment Corp. VI: Nicholas Geeza Caroline Sawamoto
