News Hub | News Direct

The Rise of EV Factories

Worksport Ltd.

There is no arguing that Detroit is the city that has “put the world on wheels,” but EVs are rapidly writing a new chapter in the history of the automobile industry. On their quest for electrification, established automakers like Tesla (NASDAQ: TSLA), General Motors (NYSE: GM) and many more are going full speed ahead as they aim to build EVs in the same locations that they get to sell them, due to their increased weight and transport-related complexities compared to their internal engine counterparts. These challenges are taking them south as it is also more convenient for battery production facilities to be geographically close to avoid supply chain and logistics issues. Most of the money heading south has come in since last year from established automakers such as General Motors, Hyundai and Ford Motors (NYSE: F) who announced last year it will build four factories as part of its gigantic EV push, spending $11.4 billion along with a supplier on three battery factories and a truck plant, resulting in 11,000 new jobs. Volkswagen (OTC: VWAGY) and Nissan Motor Co. Ltd. (OTC: NSANY) also continue to expand their operations in the south, mostly aimed at new EV production. Even EV startup Rivian Automotive Inc. (NASDAQ: RIVN) is expanding with the recent announcement of a new 650,000 square feet expansion that will make its total West Normal factory area exceed 4 million square feet. Not to forget about Tesla with its giga factory in Germany. The southern move and expansion of the Motor City comes with potentially controversial benefits such as all-in lower pay for workers, millions in tax breaks and a largely non-unionized workforce in many of the right-to-work states controlled by Republicans. There are also many challenges such as preservation of historic plantation farms, unearthing of slave burial grounds and opposition from locals who aren’t welcoming to industries that will result in heavier traffic. Meanwhile, an innovator of automotive aftermarket accessories and off-grid energy solutions, Worksport Ltd. (NASDAQ: WKSP) has expanded manufacturing operations by 222,000 square feet with its first North America facility to ensure their quality products reach customers rapidly and cost-effectively. This morning Worksport announced that it appointed a Plant Manager for its West Seneca, NY Manufacturing Facility. The new Worksport facility is a state-of-the-art facility in the Buffalo, NY suburb of Seneca, a monumental step as it allows the Company to establish a strategic presence due to nearby ports and distribution hubs, along with the proximity of the Canadian border. Bringing its production to the U.S. also empowers Worksport means “Made in USA” versions of its patented products, namely the SOLIS solar cover and Terravis Energy grid-connected fast chargers. After two-years of careful planning, Worksport is taking complete control of its production and sales pipelines for all its current and future products. Since the beginning of the year, it added a new facility, developed an eCommerce site and it is expanding its workforce to fulfill that goal. In order to determine how many units of SOLIS, its proprietary solar truck bed tonneau cover, and COR, its portable energy storage nanogrid system, would be needed for initial manufacturing, which is expected to begin in the fourth quarter of the undergoing year at the West Seneca, NY facility, presale efforts were needed. The Company recently announced presales that are expected between US$350,000-$450,000 in unrealized revenue. Pioneering a very large market filled with passion for improving lives and providing help where it’s needed the most, Worksport aims to lead the energy technology revolution. According to its mission, Worksport is here to contribute to a greener world by capitalizing on the growing shift of consumer mindsets towards clean energy with its proprietary solar and green hydrogen-based technologies. Worksport has also joined forces with the Hyundai America Technical Center, Inc. (“HATCI”) to manufacture prototypes of SOLIS and COR for Hyundai automotive products. Together, SOLIS and COR are expected to significantly transform both the internal combustion engine and electric-powered vehicles, as it empowers them to become mobile solar power generation systems capable of forming portable nanogrids, producing and storing power anywhere, anytime. We will see what developments the future will bring, but one thing is for sure, companies around the world from Tesla, GM Volkswagen, Nissan and Worksport are not sitting on their hands. About Worksport Ltd. Worksport Ltd. (Nasdaq: WKSP), through its subsidiaries, designs, develops, manufactures, and owns the IP on a variety of tonneau covers, solar integrations, and NP (Non-Parasitic), Hydrogen-based true green energy solutions for the sustainable, clean energy, and automotive industries. Worksport Ltd. seeks to capitalize on the growing shift of consumer mindsets towards clean energy integrations with its proprietary solar solutions, mobile energy storage systems (ESS), and NP (Non-Parasitic), Hydrogen-based technology. About Terravis Energy, Inc. Terravis Energy, Inc. designs, develops, and manufactures clean, green energy solutions that power lifestyle markets, with each segment of the company feeding into the derivation of the brand itself – Latin for “Earth” and “Force”. The company foresees the future of the electric vehicle markets and sustainable energy markets through multiple lenses. Its Non-Parasitic Electric Vehicle (NPEVTM) fast charging platform which combines ultra-efficient hydrogen fuel cells with solar to create completely carbon-free charge points that can re-energize Battery Electric Vehicles. Its Terravis Nanogrid™ which is designed to power houses and is modular where excess power can be directed toward utilities such as crypto mining. Its Terravis Microgrid™ system, composed of a number of Terravis Nanogrid™ systems, can power data centres and entire communities. Its Terravis Wall-e™ platform is a standalone power backup system for homes in cases of power failures, as well as a “power guardian” that can be used in conjunction with the Terravis Nanogrid™. For additional information, please contact: Steven Obadiah Business Development Manager Worksport Ltd. T: 1-(888) 506-2013 E: investors@worksport.com W: www.worksport.com Forward-Looking Statements The information contained herein may contain “forward‐looking statements.” Forward‐looking statements reflect the current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward‐looking statements. Such statements include, but are not limited to, statements contained in this press release relating to the view of management of the Company concerning its business strategy, an up listing to a national exchange, future operating results and liquidity and capital resources outlook. Forward‐looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company’s actual results may differ materially from those contemplated by the forward‐looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward‐looking statements. Factors or events that could cause the Company’s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend to update any of the forward‐looking statements to conform these statements to actual results. No Stock Exchange or Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Contact Details Worksport LTD Steven Obadiah +1 888-506-2013 investors@worksport.com Company Website Https://www.worksport.com

August 30, 2022 09:45 AM Eastern Daylight Time

Volatus Aerospace Corp. Announces Record Second Quarter 2022 Sales of $6.6M and Provides Corporate Update

Volatus Aerospace Corp.

Volatus Aerospace Corp. (TSXV: VOL) (OTCQB: VLTTF) ("Volatus" or "the Company"), a global leader in the drone industry, is pleased to announce its financial results for the quarter ending June 30, 2022 ("Q2 2022"). The revenue increase in Q2 2022 was driven by strong organic growth, expansion into the defense segment, geographic expansion, and higher services and training revenue. The Company generated revenue of $11,437,421 in the first half of 2022. The first two quarters have seasonality for drone services and training, and the third quarter is expected to be the strongest in these segments. Key Financial Highlights: Revenue for Q2 2022 was $6,629,593, an increase of 38% over the previous quarter and a 95% increase over the same quarter prior year. Gross profit for Q2 2022 was $1,900,920 an increase of $943,968 over the same period in 2021. The increase in gross profit was due to scale in product and services activities. Volatus recorded a comprehensive loss of ($1,626,896). This was due to increased investment in human resources in the defense and integrated solutions segment, and increased advertisement and marketing expenses. The Company has experienced a gross margin of 29% representing an increase of 6% over the first quarter of 2022. Contributing to increased margins are revenue from product diversification, and higher margins from services and training. Notable Operational Accomplishments During the Quarter: Continued delivery of ISR (Intelligence, Surveillance, and Reconnaissance) Drones to Ukraine Addition of several ISR products for defense and public safety The strategic acquisition of Canadian Air National Inc., which performs aerial pipeline inspections Launch of Latin America joint venture Introduction of Volatus AERIEPORT, an autonomous drone nesting station Signed numerous partnerships with OEMs to diversify and commercialize product offerings Announcement of a commercial training agreement with Moose Cree First Nations Appointment of Lt. General (Ret’d) The Honorable Andrew Leslie to the Board of Directors "I am pleased with the continued progress of our team as they continue to execute our plan toward a sustainable and profitable future,” said Glen Lynch, CEO of Volatus Aerospace. “Our investments in the defense and public safety sectors are beginning to gain traction and the introduction of the AERIEPORT and other Volatus technology solutions will help drive higher margin sales in the future.” The condensed consolidated interim financial statements for the three months ended June 30, 2022, and associated management discussion and analysis, are available under the Company's profile on SEDAR at www.sedar.com. This news release is not in any way a substitute for reading those financial statements, including the notes to the financial statements. Webinar In conjunction with this release, Volatus investor relations will host a webinar on Tuesday, August 30 th at 4:30 PM EST at which time Glen Lynch, Chief Executive Officer, and Abhinav Singhvi, Chief Financial Officer, will review the quarterly results and major milestones with Rick Peterson, CEO of Peterson Capital, as moderator. Investors are invited to register for the webinar here. https://us06web.zoom.us/webinar/register/WN_DQE4_KNfR9CdqWJ4CEIkkQ Audio Replay Options An audio replay of the event will be archived on the Investor Relations page of the company's website here CORPORATE UPDATE The Brokered Private Placement Volatus is pleased to announce that it has engaged Echelon Wealth Partners Inc. (the “Lead Agent”) and Integral Wealth Securities Limited (“Integral”, and together with the Lead Agent, the “Agents”) on a commercially reasonable best efforts private placement for the sale of up to 1,388,888 units of the Company (the “Units”) in the Province of Quebec at a price of $0.36 per Unit (the “Offering Price”) for aggregate gross proceeds of up to $500,000 (the “Offering”). Each Unit will be comprised of one common share in the capital of the Company (each, a “Common Share”) and one common share purchase warrant (a “Warrant”), with each Warrant being exercisable to acquire one Common Share at a price of $0.50 per share for a period of 24 months following the issuance thereof. The proceeds derived from the sale of the Units will be used for (i) inventory purchases and increasing factory operations; (ii) R&D and capital expenditure, (iii) future acquisitions and (iv) and for working capital and general corporate purposes. In consideration of the services rendered by the Agents in connection with the Offering, the Company has agreed to pay to the Agents on the closing date a commission equal to 8% of the gross proceeds from the Offering. In addition, the Company will issue the Agents warrants (the “Agents’ Warrants”) to acquire that number of Units which is equal to 8.0% of the number of Units sold under the Offering, at an exercise price equal to the Offering Price. The compensation to the Agents on certain subscriptions on a president’s list of up to $500,000 shall be reduced to 3% Cash Commission and 3% Agents’ Warrants. About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout Canada, the United States, Latin America and most recently in Europe. Operating a vast pilot network, Volatus serves commercial and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, and design, manufacturing, and R&D. Through its subsidiary Volatus Aviation, Volatus carries on the business of aircraft management, charter sales, and cargo services using piloted, remotely piloted, and autonomous aircraft. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Forward-Looking Statement This news release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding (i) the business plans and expectations of the Corporation; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Corporation, including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflects expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Corporation’s current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: the impact of the COVID-19 pandemic on the Corporation; meeting the continued listing requirements of the TSXV; and anticipated and unanticipated costs and other factors referenced in this news release and the Circular, including, but not limited to, those set forth in the Circular under the caption “Risk Factors”. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Corporation disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Abhinav Singhvi +1 833-865-2887 abhinav.singhvi@volatusaerospace.com Company Website https://volatusaerospace.com

August 29, 2022 04:30 PM Eastern Daylight Time

Image

Minuteman Press Franchise in Swindon, England Reopens Doors After Flooding and Fire

Minuteman Press International Inc

Minuteman Press in Swindon, England has reopened its physical location at 19-21 Newport Street (Ground Floor – Newport House). After suffering water damage from flooding in July of 2021 and electrical fire damage in October of 2021, owner James Beckwith and his team continued to operate and serve clients as repairs were being made. James shares, “The community has been fantastic, we officially remained open the whole time taking orders from the website and emails, as well as keeping our phone lines open. We have had nothing but positive comments and folks telling us they are so happy we are back open. Some customers have commented that though they had to go elsewhere for a time, the quality of the print and the quality of the service just didn’t compare to what they received when working with us.” During this critical time and leading to the reopening of their facility, James was grateful to be part of the Minuteman Press franchise family, who stepped in and provided crucial support in many areas. James says, “Mark Jones (UK South Regional VP) and Richard Myers (local field rep) and Duncan Diesel (at MPIHQ) have been invaluable to us. I routinely spoke with Duncan on equipment decisions when ours was being replaced as well as marketing ideas and technical help with Minuteman Press FLEX software and the new website. Richard has been out to see us during the time we had no premises to work up a plan once we were back open and he has been out since opening to assist with production processes and marketing ideas. Mark Jones was always at the end of the phone if we needed advice on anything. He was very key in us making the decision to stay in our current premises when we were investigating moving locations.” Being part of the Minuteman Press system also enabled James to receive vital support from choice vendors like Xerox. James states, “I want to particularly give a shout out to Xerox. They were amazing throughout the entire process. The Xerox kit was always the most expensive shop item and there were lots of negotiations on price to replace the two Versants that were damaged. They ultimately gave us the opportunity to acquire the Xerox Iridesse and offline booklet maker to match the requirements from the two previous Versants while keeping the insurance company happy on cost. Xerox also gave me near free reign of their Uxbridge HQ where I was allowed to run one particular job on their presses every month for six or seven months.” Today, with the repairs finished, new equipment in place and new signage installed, James is excited about the upgrades that have been made to the business. He says, “Our offices and production area have been refurbished, and we can now provide more services than before.” James continues, “We now have totally new kit, and because it is so versatile, we can offer more options than before, with an even faster turnaround. The new Xerox Iridesse is a full production press allowing us more and faster capabilities as well as improved image quality over our previous presses.” He adds, “Even our booklet-making capacity has improved. Whereas before, making a large number of booklets could take several hours, we can now produce up to 3,000 booklets in an hour.” James further explains the benefits of the new equipment installed at Minuteman Press in Swindon: “The Iridesse is absolutely amazing. The image quality is second to none. The job that I would run at Xerox HQ was a monthly magazine run for a local village. 1050 copies, ranging from 20 – 32 pages each month. On our Versants, the job would take 6 – 8 hours. Now the entire job takes us about 2 hours!” We were able to update our Duplo 615 to the 618 and that piece of kit is a dream. Touch screen, easy to configure and very dependable. We replaced our SureColour T5200 with the same model, however now we have the large format scanner which was one area we were sorely lacking. Customers would routinely come in with paper plans looking to get copies or scans and we would have to turn them away, now we can handle the full job for them. We replaced our HP Latex 330 with the Latex 335 that has the Print & Cut feature. We couldn’t be happier with the decision. We are still getting our feet wet with the Print & Cut, but so far we are producing work on all the new kit.” Minuteman Press in Swindon also plans to re-add dye sublimation and add a self-service area for walk-in customers who need a simple print job. James says, “This is really ideal if someone wants a return label printed, for example. We always offered this kind of service for customers, but soon they will be able to do it on a DIY basis.” James concludes, “We are happy to be back in our new and improved facility, and we are excited to continue to welcome back our clients. We are so thankful for them and all of the help we’ve received from our community and MPIHQ, and now we are ready to serve our clients better than ever before.” For more information about Minuteman Press in Swindon, visit https://minuteman.com/uk/locations/england/swindon/ To learn more about #1 rated Minuteman Press franchise opportunities and to see Minuteman Press franchise reviews, visit https://minutemanpressfranchise.co.uk or https://minutemanpressfranchise.com Contact Details Chris Biscuiti +1 631-249-1370 cbiscuiti@mpihq.com Company Website https://minutemanpressfranchise.com

August 26, 2022 05:00 AM Eastern Daylight Time

Image

SinglePoint Subsidiary, BOX Pure Air, Launches New Division, BPA Solutions: A Provider in Indoor Air Quality ("IAQ") and Safety Solutions for Schools Nationwide

SinglePoint Inc.

BPA Solutions will offer indoor air purification and security products to 131,000 public and private K-12 schools in the US. Improving Indoor Air Quality ("IAQ") within schools is an essential and critical need with over $121B in allocated Federal Funding. Schools continue to seek and deploy accretive layered products and services to improve physical security measures within schools and classrooms designed to enhance protection for teachers, students, and staff. SinglePoint Inc. (OTCQB: SING) announced today that its subsidiary, BOX Pure Air, is launching BPA Solutions to represent multiple lines of products designed to help create safer schools nationwide by improving indoor air quality (IAQ) and hardened and enhanced security solutions. The core mission of BPA Solutions is to create healthier, safer, and more productive school environments to protect the students, teachers, and staff within our nation's public and private school systems. School-aged children spend more waking hours in school than at home. Additionally, we all spend nearly 90% of our time indoors. BPA Solutions is committed to providing products and services that meet the highest standards to create a safer indoor environment for our nation's students as they return to school. "BPA Solutions is committed to creating safe and secure indoor environments at our nation's schools," said BPA Solutions CEO Ryan Cowell. "Our core belief is that anything we sell should address real problems schools have and solve these problems for a reasonable cost, in a time-effective way. We will remain highly committed to improving indoor air quality. Additionally, we have added a new line of safety and security products to our product line. These products fit within our stated mission and leverage the network of school administrators, superintendents, and facility managers we have developed over the years.," he continued. BPA Solutions has executed an exclusive distribution agreement with Ballistic Barrier Products, the makers of certified bullet-resistant door shields and window shades. BPA Solutions and Ballistic Barrier have teamed up to design two new products to extend BPA Solution's reach into school safety. The BPA Solutions entity includes a new logo (pictured above) and a new website currently live at www.solutionsbpa.com, soon to be live at www.bpasolutions.com. Any representatives of BOX Pure Air can still be reached at their current contact information unless otherwise stated. About BPA Solutions BPA Solutions believes in safeguarding the future generation by offering products designed to create a healthier and more secure school environment for students, teachers, and staff nationwide. Visit www.solutionsbpa.com to learn more. About SinglePoint Inc (OTCQB: SING ) SinglePoint is a solar energy and sustainable lifestyle company currently in the solar energy and air purification markets. The Company's goal is to build the largest renewable energy solutions network and modernize the traditional solar energy and energy storage business model. The Company continues to execute on its acquisition strategy and is currently exploring future growth opportunities in air purification, electric vehicle charging, solar as a subscription service, and additional energy efficiencies and appliances that enhance sustainability and healthier life. For more information, visit the Company's websitesâ www.singlepoint.com, www.bostonsolar.us, and www.boxpureair.com Contact Details Tra-Digital IR +1 212-389-9782 Investors@SinglePoint.com Company Website http://www.tradigitalir.com

August 25, 2022 03:31 PM Eastern Daylight Time

Foresight Announces Second Quarter 2022 Financial Results

Foresight Autonomous Holdings Ltd.

Foresight Autonomous Holdings Ltd., an innovator in automotive vision systems (Nasdaq and TASE: FRSX) (“Foresight”), today reported financial results for the second quarter of 2022. Foresight ended the first half of 2022 with revenues of $248,000 and with $35.6 million in cash, cash equivalent, restricted cash and short-term deposits. The Company reported a U.S. generally accepted accounting principles (“GAAP”) net loss of $10.1 million and a non-GAAP net loss of $9.7 million for the second quarter of 2022, compared to a GAAP net loss of $3.2 million and a non-GAAP net loss of $2.7 million for the second quarter of 2021, reflecting an increase of 216% and 259%, respectively, resulting mainly from revaluation of the Company’s investment in Rail Vision Ltd (Nasdaq: RVSN) ("Rail Vision") to its fair value, after Rail Vision's initial public offering in April 2022. “Foresight’s performance in the second quarter of 2022 was focused on demonstrating the broad viability of our stereoscopic vision technology for autonomous and semi-autonomous vehicle applications. We believe that the agreements we signed with leading Tier One suppliers, ZF North America Inc. and Hitachi Astemo Americas Inc., as well as the progress made with Elbit Systems Ltd. mark a significant milestone in our sales cycle, as we move forward from proof of concept (POC) projects to a co-development stage, getting us closer to the design win stage in which we aim to win a contract for mass production,” said Haim Siboni, Foresight’s CEO. "Our key business achievements reveal significant interest across markets, industries and geographies. During the second quarter, Foresight signed agreements with multiple Tier One suppliers for passenger vehicles, commercial vehicles, industrial technology, unmanned vehicles and vehicle-control systems. We believe that this diversity is a solid indication of the breadth and depth of Foresight’s total addressable market, and we expect to see continued interest in the second half of 2022 from industries including defense, transportation and agriculture.” Second Quarter 2022 Financial Results Revenues for the three months ended June 30, 2022 amounted to $213,000. We did not generate revenues in the three months ended June 30, 2021. The revenues were generated from a successful completion of several milestones in of the customization project with Elbit Systems Ltd. (Nasdaq: ELBT) in the amount of $188,000, and from a completion of the first milestone of a POC project with a leading tier one supplier in the amount of $25,000. Research and development (R&D) expenses, net for the three months ended June 30, 2022 were $2,806,000, compared to $2,436,000 for the three months ended June 30, 2021. The increase is attributed mainly to an increase in payroll and related expenses in the amount of $439,000. R&D expenses in the second quarter of 2022 were offset by participation from the European Horizon 2020 program in the amount of $89,000. Marketing and sales (S&M) expenses, net for the three months ended June 30, 2022 were $605,000, compared to $489,000 for the three months ended June 30, 2021. The increase is attributed mainly to an increase in exhibitions, conventions and travel expenses in the amount of $85,000. General and administrative (G&A) expenses for the three months ended June 30, 2022 were $837,000, compared to $812,000 for the three months ended June 30, 2021. Finance expenses, net for the three months ended June 30, 2022 were $5,991,000, compared to finance income, net of $574,000 for the three months ended June 30, 2021. The decrease is mainly attributed to expenses from the revaluation of the Company’s investment in Rail Vision to its fair value following its initial public offering on Nasdaq, in the amount of $5,588,000 and by exchange rate differences and other expenses in the amount of $403,000. GAAP net loss for the three months ended June 30, 2022 was $10,116,000, or $0.03 per ordinary share, compared to a GAAP net loss of $3,163,000, or $0.01 per ordinary share, for the three months ended June 30, 2021. Non-GAAP net loss for the three months ended June 30, 2022 was $9,663,000, or $0.03 per ordinary share, compared to a non-GAAP net loss of $2,661,000, or $0.01 per ordinary share, in the same quarter last year. A reconciliation between GAAP net loss and non-GAAP net loss is provided in the financial statements that are part of this release. Balance Sheet Highlights Cash, restricted cash and short-term deposits totaled $35.6 million as of June 30, 2022, compared to $45.7 million as of December 31, 2021. GAAP shareholders’ equity totaled $37.4 million as of June 30, 2022, compared to $48.6 million as of December 31, 2021. The decrease is attributed mainly to the net loss for the period. Second Quarter Corporate Highlights: Foresight Collaborates with Chinese Tier One Supplier SUNWAY-AI on Product Development: In May, Foresight signed a memorandum of understanding (MOU) with SUNWAY-AI Technology Co., a global Chinese manufacturer of autonomous and unmanned intelligent vehicle products. According to the MOU, Foresight and SUNWAY-AI will establish a joint development program for an obstacle detection system for unmanned vehicles. The obstacle detection system will integrate Foresight’s stereoscopic technology using both thermal and visible light cameras. The MOU follows the successful completion of a POC project in January of this year. Elbit Reveals Unmanned Robotic Combat Vehicle Integrated with Foresight Technology: At Eurosatory, the world’s leading land and airland defense and security exhibition, Elbit Systems, in collaboration with the Israeli Defense Forces, revealed a prototype of its new unmanned robotic combat vehicle equipped with Foresight’s QuadSight vision system. Foresight’s stereo-camera solution supports obstacle detection, terrain analysis and navigation plans in challenging conditions, including off-road driving and zero-visibility sandstorms. The Eurosatory exhibition drew more than 100,000 visitors from around the world. Foresight Announces Joint Proof-of-Concept with Top Tier One Supplier ZF North America: In June, Foresight announced the signing of a joint paid POC project with ZF North America, a subsidiary of ZF Friedrichshafen AG (ZF). ZF is one of the world’s largest Tier One technology companies supplying systems for passenger cars, commercial vehicles and industrial technology. The POC project follows Foresight’s victory in the ZF Pitch Event held at the 2022 CES exhibition in January of this year. Foresight Signs Agreement with Hitachi Astemo Americas: In late June, Foresight announced an agreement with Hitachi Astemo Americas, a global Japanese Tier One supplier of engine management, electric powertrain and integrated vehicle-control systems for the automotive industry. Per the agreement, Hitachi Astemo will conduct a paid joint POC project to test Foresight’s QuadSight and Mono2Stereo™ technologies together with Hitachi Astemo’s existing camera systems for distance measurement and object detection in simulated and real-life autonomous driving scenarios. The joint POC follows the successful evaluation of a QuadSight vision system prototype in 2021. Foresight Participates in Virtual Events: During the second quarter, Foresight hosted and participated in multiple virtual events, drawing diverse investor attention to the company’s solutions for autonomous and semi-autonomous vehicles. In late March, Foresight presented and participated in a panel discussion at the Maxim Group Virtual Growth Conference. In May, Foresight hosted a virtual investor webinar on market trends and solutions for the autonomous and semi-autonomous era. Foresight also presented at the Sidoti Summer Small Cap Virtual Conference in June. Use of Non-GAAP Financial Results In addition to disclosing financial results calculated in accordance with United States generally accepted accounting principles (GAAP), the company's earnings release contains non-GAAP financial measures of net loss for the period that exclude the effect of stock-based compensation expenses. The company’s management believes the non-GAAP financial information provided in this release is useful to investors’ understanding and assessment of the company's ongoing operations. Management also uses both GAAP and non-GAAP information in evaluating and operating business internally and as such deemed it important to provide all this information to investors. The non-GAAP financial measures disclosed by the company should not be considered in isolation or as a substitute for, or superior to, financial measures calculated in accordance with GAAP, and the financial results calculated in accordance with GAAP and reconciliations to those financial statements should be carefully evaluated. Reconciliations between GAAP measures and non-GAAP measures are provided later in this press release. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Foresight is using forward-looking statements in this press release when it discusses its belief that the agreements it has signed mark a significant milestone in its sales cycle, as it moves forward from POC projects to a co-development stage, with the aim of winning contracts for mass production and its belief that the diversity of its customer’s industries is an indication of the breadth and depth of its total addressable market, and that it expects to see continued interest in the second half of 2022 from industries including defense, transportation and agriculture. Because such statements deal with future events and are based on Foresight’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Foresight could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Foresight’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 31, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, Foresight undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. About Foresight Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a technology company developing smart multi-spectral vision software solutions and cellular-based applications. Through the Company’s wholly owned subsidiaries, Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions. Foresight’s vision solutions include modules of automatic calibration and dense three-dimensional (3D) point cloud that can be applied to different markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time pre-collision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics. For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.foresightauto.com, follow @ForesightAuto1 on Twitter, or join Foresight Automotive on LinkedIn. Contact Details Investor Relations Contact: Miri Segal-Scharia, CEO, MS-IR LLC +1 917-607-8654 msegal@ms-ir.com Company Website https://www.foresightauto.com/

August 19, 2022 04:05 PM Eastern Daylight Time

Fullintel Appoints Angela Dwyer as Head of Insights

Fullintel, LLC

Fullintel, a leading media monitoring and media intelligence service, is proud to announce it has appointed Angela Dwyer, a leader in the global PR measurement industry, as its new Head of Insights. A former senior vice-president at NYC-based PR agency Lippe Taylor and senior project manager at PRIME Research (now Cision), Angela has spent years developing and implementing advanced media metrics – such as the Hypatia Gravity Score – to help improve the effectiveness of PR campaigns and media outreach. She’s also actively involved in the Institute for Public Relations (IPR) and International Public Relations Research Conference (IPRRC). Building on Fullintel’s Award-Winning Media Measurement Foundation “Fullintel has mastered a cost-effective, human-curated media monitoring approach,” explains Dwyer, “along with a great analysis foundation in terms of Fullintel’s Media Impact Score and PredictiveAI™ crisis module. I want to continue adding to that by customizing the approach for each client based on a range of factors, such as drivers of recall, predictors of how someone might think about your brand, or even different audience drivers depending on the client’s goal.” Angela’s addition builds on Fullintel’s growing momentum in the PR measurement industry, culminating in the company winning Gold, Silver, and Bronze awards at the 2021 AMEC Awards for media measurement. “Angela is one of the most talented senior members of the global measurement community, period. We’re extremely proud to have her join our team,” said Fullintel President Andrew Koeck. “We look forward to providing our clients across healthcare, tourism, retail, aviation, and other industries with even more impactful and actionable insights, based on our ever-evolving measurement program and new products such as PredictiveAI.” Improving Measurement Standards For Communicators Angela is a regular on several industry committees and boards, including the International Public Relations Measurement Commission. She’s also set to join other media measurement experts in hosting the Institute of Public Relations (IPR) Master Class, a strategic playbook for communicators featuring eight live and interactive sessions from Sept. 19, 2022 to April 18, 2023. About Fullintel: Fullintel combines best-in-class technology with expert content curation to deliver the most relevant, cost optimized media monitoring, daily news briefs, and media analysis possible. Our analysts curate print, online, social media, broadcast, and influencer opinions in real time compiled by technology, supplemented and verified by humans. Where technology alone fails, your dedicated analyst has you covered. Fullintel has offices in Cambridge, Mass., Ottawa, Ont. and Nagercoil, India. Contact Details Fullintel Samuel Chen +1 339-970-8005 schen@fullintel.com Company Website https://fullintel.com/

August 17, 2022 10:20 AM Eastern Daylight Time

Video Image

LanzaJet Applauds Signing into Law the Inflation Reduction Act

LanzaJet

The passage of The Inflation Reduction Act (IRA) will catalyze a new domestic Sustainable Aviation Fuel (SAF) industry to decarbonize the aviation sector. LanzaJet, Inc., a leading SAF producer, and technology provider through its proprietary Alcohol-to-Jet (ATJ) process, applauds the IRA's passage. It recognizes the critical role this legislation will play in enabling aggressive scale-up of SAF, supporting an ecosystem of innovation and transformation in aviation. The aviation industry and the Administration share a joint goal under the SAF Grand Challenge of achieving 3 billion gallons of domestic SAF production by 2030 and 100% SAF by 2050. The IRA provides critical policy tools to scale domestic SAF production to achieve these ambitious goals rapidly. LanzaJet committed in 2021 to fulfilling one-third of the U.S. target by enabling the production of 1 billion gallons of SAF by 2030 using its industry-leading technology, which converts ethanol into drop-in SAF and renewable diesel. The U.S. market provides significant access to low-carbon, sustainable feedstocks and waste sources that can be converted into ethanol and from ethanol into sustainable transportation fuels. "The U.S. is poised to lead the world in the energy transition, and this legislation is a leap forward in advancing energy security, economic development, and climate action. LanzaJet applauds Congress for leading through action, and the inclusion of a performance-based Sustainable Aviation Fuel (SAF) tax credit positions the U.S. to lead in developing a new, global sustainable fuels industry. We look forward to working with Congress and industry leaders to accelerate the transition to clean energy," stated Jimmy Samartzis, CEO of LanzaJet. He continued, "We've been at an inflection point in building this new industry. The passage of the Inflation Reduction Act allows U.S. manufacturing, agriculture, biofuel, oil and gas, aviation, and financial industries to double-down, work together, and advance the development of the sustainable fuels industry." LanzaJet has been a strong advocate and industry leader on the SAF provisions in the IRA, which includes a new performance-based SAF tax credit. This innovative feedstock and technology-neutral credit provides an incentive of up to $1.75/gallon for SAF to achieve a 100% lifecycle GHG reduction that will drive investment in the high-performing SAF technologies like ATJ, which our nation will need to decarbonize the aviation sector. Access to low-cost capital is one of the most significant barriers to the rapid deployment of SAF technologies that have been proven but not yet deployed at a commercial scale. The IRA's $245 million in complementary grant funding for SAF projects will further de-risk investment and speed the deployment of next-generation SAF technologies. LanzaJet's investors and partners recognize and applaud Congress for enacting a suite of foundational and innovative SAF policies that will ensure continued U.S. leadership in the emerging SAF industry and are already working to transform the nation's economy. LanzaJet works in collaboration with its investors, partners, and funders, including LanzaTech, Mitsui & Co, Ltd., Suncor Energy, British Airways, Shell, Microsoft, and All Nippon Airways, to develop the U.S. SAF industry. The IRA's SAF provisions will enable continued advancement and development of projects using LanzaJet's ATJ technology, over 300 million gallons of which have already been publicly announced. Upon President Biden signing this bill into law, LanzaJet's investors reinforced the importance of this legislation in building a new SAF industry and in working together to continue to expand SAF production: LanzaTech's CEO and LanzaJet Board Chair, Jennifer Holmgren, said, "This is a critical time for hard-to-abate sectors, including aviation. By enacting historic sustainable aviation fuel policies within the Inflation Reduction Act, the new tax credits and aviation grant programs will provide critical support for spurring a new domestic industry in the U.S., which can lower emissions, create new American jobs, and improve energy security and show U.S. global leadership." Mr. Toru Iijima, Chief Operating Officer of the Energy Solutions Business Unit of Mitsui & Co., Ltd., stated, "Mitsui welcomes the passage of the Inflation Reduction Act that will further support production and use of SAF in the United States. We look forward to jointly building the SAF industry in strong partnership with LanzaJet and other stakeholders and to contributing to the decarbonization of the aviation industry." Sir David King, world-renowned climate scientist, and technology leader, member of LanzaJet's Board of Directors, and former Chief Scientific Advisor to the United Kingdom and Head of the Government Office for Science, said, "The Inflation Reduction Act is a major step forward for the U.S. in combating climate change, the biggest challenge facing humanity today. The world is already experiencing extreme weather events causing enormous losses and costs. Speaking for the world, this Act is a potentially enormous step forward for the States to join Europe in taking a leading role in managing these threats and growing green economies. The SAF tax credit provisions in the Act and grant funding for SAF projects represent a critical step by the U.S. government in catalyzing the SAF industry to enable decarbonization of the aviation industry." About LanzaJet LanzaJet is a leading sustainable fuels technology company dedicated to accelerating the energy transition by embracing the circular economy. As a Sustainable Aviation Fuel (SAF) technology provider and producer with patented and proprietary technology, LanzaJet is creating an opportunity for future generations by accelerating the deployment of SAF and other clean technologies critical to addressing the climate crisis and transforming the global economy. Further information is available at https://www.lanzajet.com/. Contact Details LanzaJet Daniel Cherrin +1 313-300-0932 media@lanzajet.com Company Website https://www.lanzajet.com

August 17, 2022 07:03 AM Eastern Daylight Time

American Equipment Holdings Expands Presence in Eastern United States Through Acquisition of Patriot Crane & Hoist

Rotunda Capital Partners LLC

American Equipment Holdings (“American Equipment”), a Rotunda Capital Partners portfolio company, has acquired Patriot Crane & Hoist (“Patriot Crane”), a leading provider of overhead crane maintenance, repair and overhaul (MRO) field services headquartered in Suwanee, Georgia, with operations throughout the Southeastern U.S. The acquisition of Patriot Crane marks the 11 th acquisition completed by American Equipment since partnering with Rotunda in May 2021. For nearly 20 years, Patriot Crane has been a leader in providing comprehensive overhead crane and hoist field service solutions in the most demanding customer environments, including repairs, inspection, and replacement parts, to customers across a diverse range of end markets throughout the Southeastern U.S. During this time, the team at Patriot Crane has distinguished itself with highly skilled overhead crane technicians and a proven customer-first mentality. Combined with American Equipment’s industry leading engineering and fabrication capabilities, technical expertise and best-in-class resources, this partnership enhances the value proposition for both existing and new customers from coast to coast. Patriot Crane will continue to be managed by Gregg Salyer and operate as a division of American Equipment. “The addition of Patriot Crane and their extensive east coast operations is a great win for customers,” said American Equipment CEO Adam Zimmerman. “Our goal at American Equipment has always been to provide a high-quality, one-stop-shop solution from coast to coast, and our partnership with the exceptional team at Patriot Crane is an integral step in delivering that benefit.” “I am thrilled about what this partnership means for Patriot Crane, both for our customers and our employees,” said Gregg Salyer, owner of Patriot Crane. “I believe in the vision that American Equipment has for this industry. The talent and resources supporting this organization create a value proposition like no other in our industry, which will greatly enhance the customer experience and provide meaningful career opportunities for our employees.” About American Equipment Holdings American Equipment Holdings is an organization of leading overhead crane and hoist distributors and field service providers, including American Equipment, Allied Crane, Eastern Crane & Hoist, Facilities Engineering, Kistler Crane & Hoist, Pacific Crane & Hoist, and Washington Crane & Hoist. The consolidated entity is one of the largest independently owned overhead crane and hoist solutions providers in the country, serving over 4,000 customers nationwide. Together, American Equipment Holdings companies provide comprehensive solutions for everything related to customers’ overhead crane and hoist needs, including OSHA mandated inspections, preventative maintenance and repair field services, parts, engineering, ISO certified fabrication, new and replacement equipment, automated systems, system modernizations and training. American Equipment Holdings represents the industry’s leading manufacturers such as Detroit Hoist, Columbus McKinnon, ACCO, R&M, Demag, Gorbel, Spanco, IMS, Harrington, Conductix, Magnetek & PE, among others, and customers rely on its service, design, engineering, fabrication, and installation capabilities to meet their unique application needs. American Equipment Holdings serves local, regional and national customers across a variety of end markets, including light & heavy industrial, automotive, mining, public utilities, military, aerospace & defense and energy, among others. For more information, visit www.amquipinc.com. American Equipment is aggressively seeking to acquire other overhead crane and material handling equipment, parts and service solution providers and is interested in acquisition opportunities presented by business owners, management, or M&A intermediaries. Please contact Ryan Aprill, Principal at Rotunda Capital Partners, regarding acquisition opportunities. About Rotunda Capital Partners Rotunda Capital Partners is an operationally oriented private equity firm focused on transforming family-founder owned companies into dynamic, data-driven platforms able to achieve and manage significant growth. Since its founding in 2009, Rotunda has partnered with management teams to build great businesses within three primary sectors: value-added distribution, asset-light logistics and industrial & business services. Rotunda strives to achieve replicable results by implementing its Rotunda Performance System to create strategic alignment, develop lean processes and create robust, data-driven infrastructures. For more information, visit www.rotundacapital.com. Contact Details Rotunda Capital Partners Jill Lafferty +1 847-280-1295 jill@rotundacapital.com Company Website https://www.rotundacapital.com

August 16, 2022 07:47 AM Eastern Daylight Time

Fox Logistics Ranks No. 268 on the 2022 Inc. 5000 Annual List

Fox Logistics

Fox Logistics, the asset-based third-party logistics provider (3PL) that provides freight services to small, midsize, and enterprise businesses, today announced that it has been ranked No. 268 on the Inc. 5000 list, the most prestigious ranking of the fastest-growing private companies in America. The list represents a one-of-a-kind look at the most successful companies within the economy’s most dynamic segment—its independent businesses. This is the first year Fox Logistics has ranked on the Inc. 5000 list, which comes after a record year of growth and achievement for the company. Fox Logistics acquired freight platform Boxton, which automates the freight quoting process so customers can work directly with carriers to obtain immediate access to industry-leading freight rates. The acquisition marked Fox Logistics’ global expansion into air and ocean freight services. “We are honored to be named to the Inc. 5000 list, particularly among the top 500 companies,” said Matt Lawrence, CEO of Fox Logistics, “I am incredibly grateful to our teammates and customers who place their trust in Fox Logistics and have made this possible. We will continue to focus on being the best place to work in this industry and providing exceptional customer service powered by our advanced technology platform.” Fox Logistics ranked No. 14 in the transportation and logistics category and No. 29 in the State of Florida. The companies on the 2022 Inc. 5000 list have demonstrated success and resilience amid supply chain woes, labor shortages, and the ongoing impact of Covid-19. Among the top 500 companies, the average median three-year revenue growth rate soared to 2,144 percent. Together, those companies added 68,394 jobs over the past three years. “The accomplishment of building one of the fastest-growing companies in the U.S., in light of recent economic roadblocks, cannot be overstated,” says Scott Omelianuk, editor-in-chief of Inc. “Inc. is thrilled to honor the companies that have established themselves through innovation, hard work, and rising to the challenges of today.” For more information about Fox Logistics visit https://foxlogistics.com. About Fox Logistics Founded in 1991, Fox Logistics is an asset-based third-party logistics (3PL) provider that provides ground, air, and ocean services to small and midsize businesses, as well as enterprise retail and manufacturing companies. In a volatile industry marked with constant delays, unethical brokers, and unpredictable rate changes, Fox Logistics provides reliable, on-time services by focusing on carrier and customer relationships. The company employs an advanced, AI-based Freight Automation Platform (FAP) to provide customers with visibility into their shipments. Fox Logistics is committed to carbon neutrality and partners with The National Forest Foundation and The Carbon Fund to measure and offset carbon emissions. Learn more at foxlogistics.com. More about Inc. and the Inc. 5000 Methodology Companies on the 2022 Inc. 5000 are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2021. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2018 is $100,000; the minimum for 2021 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places. The top 500 companies on the Inc. 5000 are featured in Inc. magazine’s September issue. The entire Inc. 5000 can be found at http://www.inc.com/inc5000. About Inc. The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference & Gala is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com. For more information on the Inc. 5000 Conference & Gala, visit http://conference.inc.com/. Contact Details Trust Relations Jennifer Cronin +1 323-216-8589 Foxlogistics@trustrelations.agency

August 16, 2022 07:00 AM Eastern Daylight Time

Transportation