Month: September 2026

IEA projects global data center electricity consumption to roughly double to 950 TWh by 2030, with consumption from AI-focused data centers expected to triple

Company believes GridFeed’s existing AI optimization engine is well suited to helping data center operators make better use of limited power capacity

TEL AVIV, Israel, Sept. 16, 2026 (GLOBE NEWSWIRE) — PRF Technologies Ltd. (Nasdaq: PRFX) (“PRF” or the “Company”) today announced that GridFeed™, its AI-driven energy intelligence and optimization platform, is exploring the AI and hyperscale data center market as a strategic growth opportunity. Data centers rank among the fastest-growing sources of electricity demand in the world, and the Company believes GridFeed’s technology could help operators keep growing as power availability and grid capacity become major bottlenecks for the sector.

According to the International Energy Agency (IEA), global data center electricity consumption is projected to roughly double from 485 TWh in 2025 to 950 TWh in 2030, while consumption from AI-focused data centers is expected to triple over the same period. Power is becoming a primary constraint on data center growth, since even facilities with available land, servers and GPUs cannot add computing capacity without sufficient and reliable electricity.

GridFeed’s existing optimization engine follows a “predict, simulate, optimize and recommend” process and is currently applied to renewable energy assets participating in electricity and flexibility markets. The Company believes the engine could be extended to help data center operators determine the highest-value use of each available megawatt, taking into account power supply, compute demand, battery status, grid conditions, electricity prices and service level commitments. For example, GridFeed’s weather forecasting could be used to anticipate conditions that affect cooling demand, on-site renewable generation and grid availability. In data centers, GridFeed would aim to weigh battery use, energy consumption and compute workloads together and recommend the action expected to produce the best overall business outcome while protecting operational reliability.

Potential data center applications that GridFeed plans to explore with industry partners include workload shifting, energy cost optimization, battery charge and discharge strategies, demand response and real-time power allocation.

Efraim Cohen-Arazi, Interim Chief Executive Officer of PRF Technologies, commented, “The growth of AI is driving a sharp increase in the power that data centers need, and access to electricity and grid capacity is becoming a limiting factor for many operators. We believe that intelligent coordination of compute, storage and energy will become an important competitive advantage for data center operators. GridFeed was built to help renewable energy operators make better decisions about every megawatt they produce, and we see a natural opportunity to bring that same intelligence to data centers.”

On September 9, 2026, PRF announced its plan to establish GridFeed, together with its DeepSolar operations, as a standalone, wholly owned subsidiary. The Company believes this structure gives GridFeed the flexibility to pursue new markets, including data centers. Dedicated members of the GridFeed team are actively evaluating the data center use case, including potential opportunities to improve operational efficiency and energy management for data center operators. GridFeed is also exploring potential collaboration opportunities with partners across the data center ecosystem in areas such as technology integration, pilot deployments, co-development and strategic investment. Potential partners include workload orchestration, data center infrastructure management (DCIM), energy management system (EMS) and facility management platform providers, storage and uninterruptible power supply (UPS) providers, hyperscale and colocation operators, and utilities.

The data center initiative builds on the validation of GridFeed’s AI engine using real-world European utility-scale production, weather and market data, as well as the platform’s extension into battery energy storage. DeepSolar participated in the NVIDIA Connect program.

About PRF Technologies

PRF Technologies (Nasdaq: PRFX) is a company focused on the reformulation of established therapeutics, and a developer of AI-driven energy optimization technologies through its DeepSolar platform. The Company’s pharmaceutical programs leverage a proprietary extended-release drug-delivery system intended to provide prolonged post-surgical pain relief while minimizing the need for repeated dosing and reducing reliance on opioids. Through DeepSolar and GridFeed, PRF also delivers advanced software solutions that enable both consumers and enterprises to monitor, forecast, trade and optimize energy – particularly in solar-integrated environments. This dual business model reflects PRF’s strategic commitment to applying precision technology across high-impact sectors including healthcare and sustainable energy. For more information, please visit www.prf-tech.com.

Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements about PRF’s expectations, beliefs and intentions, including with respect to statements related to GridFeed’s pursuit of the data center market and the potential applications, capabilities and benefits of its platform for data center operators; GridFeed’s ability to identify and enter into partnerships, proof-of-concept programs, pilot deployments, co-development arrangements or strategic investments with participants in the data center ecosystem, and the terms of any such arrangements; projected growth in data center electricity demand; the establishment of GridFeed as a wholly owned subsidiary and the anticipated benefits of that structure; the commercialization, customer adoption, revenue generation and growth prospects of DeepSolar and GridFeed; the ability of GridFeed to attract strategic partners and sector-focused investors and the terms of any such transactions; the expected benefits of strategic collaborations and partnerships; the development, regulatory progress, clinical advancement and commercialization of OcuRing™-K and PRF-110; the initiation, timing, conduct and outcomes of planned clinical trials; the Company’s business strategy, growth initiatives and future operational plans; the sufficiency of the Company’s capital resources and financial position; and the Company’s future performance, prospects and opportunities. Forward-looking statements can be identified by the use of forward-looking words such as “believe”, “expect”, “intend”, “plan”, “may”, “should”, “could”, “might”, “seek”, “target”, “will”, “project”, “forecast”, “continue” or “anticipate” or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. These forward-looking statements are based on assumptions and assessments made in light of management’s experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and we undertake no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of our control. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: the Company’s ability to adapt the GridFeed platform to the requirements of data center operators and its limited experience in the data center market; the accuracy of third-party market projections, including those of the International Energy Agency; the Company’s ability to complete the formation of the subsidiary and the transfer of assets on the expected terms and timeline; the Company’s ability to identify, negotiate and consummate strategic partnerships, collaborations or investments at the subsidiary level on acceptable terms, or at all; the Company’s history of losses and need for additional capital to fund its operations and its ability to obtain additional capital on acceptable terms, or at all; the Company’s dependence on the success of its initial product candidates, including OcuRing™-K, and the commercialization of the DeepSolar and GridFeed solutions; the outcomes of preclinical studies, clinical trials and other research regarding OcuRing and PRF-110; the Company’s limited experience managing clinical trials; the Company’s ability to retain key personnel and recruit additional employees; the Company’s reliance on third parties for the conduct of clinical trials, product manufacturing and development; the impact of competition and new technologies; the Company’s ability to comply with regulatory requirements relating to the development and marketing of its product candidates; the Company’s ability to establish and maintain strategic partnerships and other corporate collaborations; the implementation of the Company’s business model and strategic plans for its business and product candidates; the scope of protection the Company is able to establish and maintain for intellectual property rights covering its product candidates and technologies and its ability to operate its business without infringing the intellectual property rights of others; the overall global economic environment; the Company’s ability to maintain compliance with Nasdaq’s continued listing requirements, including the minimum shareholders’ equity and minimum Market Value of Listed Securities (MVLS) requirements, and to maintain the listing of its ordinary shares on Nasdaq; the Company’s ability to develop an active trading market for its ordinary shares and whether the market price of its ordinary shares is volatile; and the impact of the political and security situation in Israel on the Company’s business, including as a result of the current security situation in Israel. More detailed information about the risks and uncertainties affecting us is contained under the heading “Risk Factors” included in the Company’s most recent Annual Report on Form 20-F and in other filings that we have made and may make with the Securities and Exchange Commission in the future.

Contact:

Crescendo Communications, LLC
Tel: 212-671-1020
Email: prfx@crescendo-ir.com

Dr. Ehud Geller, Chairman
PRF Technologies Ltd.
Tel: +972-54-4236711
Email: egeller@medicavp.com

BEIJING, China, Sept. 16, 2026 (GLOBE NEWSWIRE) — Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), a leader in China’s new energy vehicle market, today officially launched Li i9, a pioneering flagship family SUV. The six-seat battery electric SUV is priced at RMB369,800 for its standard configuration. Deliveries of Li i9 will commence this week. For more details on Li i9, please visit Li Auto’s official website.

About Li Auto Inc.

Li Auto Inc. is a leader in China’s new energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric vehicles. Its mission is: Be Proactive, Change the World. Through innovations in product, technology, and business model, the Company provides families with safe, convenient, and comfortable products and services. Li Auto is a pioneer in successfully commercializing extended-range electric vehicles in China. While firmly advancing along this technological route, it builds platforms for battery electric vehicles in parallel. The Company leverages technology to create value for users. It concentrates its in-house development efforts on proprietary range extension systems, innovative electric vehicle technologies, and smart vehicle solutions. The Company started volume production in November 2019. It offers high-tech flagship family MPVs, Li L series extended-range electric SUVs, and Li i series battery electric SUVs. The Company will continue to expand its product lineup to target a broader user base.

For more information, please visit: https://ir.lixiang.com.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “targets,” “likely to,” “challenges,” and similar statements. Li Auto may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”) and The Stock Exchange of Hong Kong Limited (the “HKEX”), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about Li Auto’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Li Auto’s strategies, future business development, and financial condition and results of operations; Li Auto’s limited operating history; risks associated with extended-range electric vehicles and high-power charging battery electric vehicles; Li Auto’s ability to develop, manufacture, and deliver vehicles of high quality and appeal to customers; Li Auto’s ability to generate positive cash flow and profits; product defects or any other failure of vehicles to perform as expected; Li Auto’s ability to compete successfully; Li Auto’s ability to build its brand and withstand negative publicity; cancellation of orders for Li Auto’s vehicles; Li Auto’s ability to develop new vehicles; and changes in consumer demand and government incentives, subsidies, or other favorable government policies. Further information regarding these and other risks is included in Li Auto’s filings with the SEC and the HKEX. All information provided in this press release is as of the date of this press release, and Li Auto does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

Li Auto Inc.
Investor Relations
Email: ir@lixiang.com

Christensen Advisory
Tel: +86-10-5900-1548
Email: Li@christensencomms.com

ATHENS, Greece, Sept. 16, 2026 (GLOBE NEWSWIRE) — Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership and bareboat charter-in of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Aquavita International S.A., for one of its Kamsarmax dry bulk vessels, the m/v Astarte. The gross charter rate is US$17,000 per day, minus a 4.75% commission paid to third parties, for a period until minimum September 1, 2027 up to maximum November 15, 2027. The charter is expected to commence on September 20, 2026. The m/v Astarte is currently chartered, as previously announced, to Propel Shipping Pte. Ltd., at a gross charter rate of US$12,500 per day, minus a 5.00% commission paid to third parties.

The “Astarte” is an 81,513 dwt Kamsarmax dry bulk vessel built in 2013.

The employment of “Astarte” is anticipated to generate a total of approximately US$5.81 million of gross revenue for the minimum scheduled period of the time charter.

Diana Shipping Inc.’s fleet currently consists of 36 dry bulk vessels (4 Newcastlemax, 8 Capesize, 4 Post-Panamax, 6 Kamsarmax, 5 Panamax and 9 Ultramax). The Company also expects to take delivery of two methanol dual fuel new-building Kamsarmax dry bulk vessels by the second half of 2027 and the first half of 2028, respectively. As of today, the combined carrying capacity of the Company’s fleet, excluding the two vessels not yet delivered, is approximately 4.1 million dwt, with a weighted average age of 12.81 years. A table describing the current Diana Shipping Inc. fleet can be found on the Company’s website, www.dianashippinginc.com. Information contained on the Company’s website does not constitute part of this press release.

About the Company

Diana Shipping Inc. is a global provider of shipping transportation services through its ownership and bareboat charter-in of dry bulk vessels. The Company’s vessels are employed primarily on short to medium-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Company management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in the Company’s view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, tariff policies and other trade restrictions, potential liability from pending or future litigation, general domestic and international political conditions, including risks associated with the continuing conflict between Russia and Ukraine and related sanctions, potential disruption of shipping routes due to accidents or political events, including the escalation of the conflict in the Middle East, vessel breakdowns and instances of off-hires and other factors. Please see the Company’s filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Corporate Contact:
Margarita Veniou
Chief Corporate Development, Governance &
Communications Officer and Secretary
Telephone: + 30-210-9470-100
Email: mveniou@dianashippinginc.com
Website: www.dianashippinginc.com
X: @Dianaship
                                
Investor Relations/Media Contact:
Nicolas Bornozis / Daniela Guerrero
Capital Link, Inc.
230 Park Avenue, Suite 1540
New York, N.Y. 10169
Tel.: (212) 661-7566
Email: diana@capitallink.com

Permit provides for drilling from two approved drill locations as Power One advances planned approximately 1,500-metre deep test of the Zd1 geophysical target

VANCOUVER, British Columbia, Sept. 16, 2026 (GLOBE NEWSWIRE) — Power One Resources Corp. (TSXV: PWRO) (“Power One” or the “Company“) is pleased to announce that it has received the exploration permit required to advance diamond drilling at its 100%-owned Pecors Project, located approximately 14 kilometres east of Elliot Lake, Ontario.

The receipt of the permit represents a significant milestone in the Company’s plan to return to Pecors and undertake a materially deeper test of the large Pecors magnetic anomaly.

As previously announced, Power One’s initial priority is a single vertical diamond drill hole approximately 1,500 metres in depth, designed to test the deep-seated (Zd1) geophysical anomaly identified through three-dimensional inversion modelling of historical ZTEM resistivity data.

The permit provides for mechanized diamond drilling from two approved drill pad locations, providing the Company with flexibility to undertake additional drilling from the permitted locations as geological information, exploration results and technical interpretation warrant.

“Receiving the drill permit moves Pecors into the next stage of exploration,” commented Wazir Khan, CEO and Director of Power One. “Previous drilling confirmed that the Pecors magnetic system contains gabbroic rocks with nickel, copper and PGE mineralization, but subsequent geophysical work identified deeper targets that were not adequately tested by those holes. Our immediate objective is to drill approximately 1,500 metres and directly test the Zd1 target at depth. Every phase of exploration has added another layer of understanding of this system.”

LARGE-SCALE PECORS MAGNETIC SYSTEM

The Pecors magnetic anomaly is a large regional magnetic high measuring approximately 12 kilometres long by 4 kilometres wide, the majority of which is concealed beneath thick sequences of Huronian sedimentary rocks.

Multiple generations of exploration and geophysical work have progressively developed the geological model at Pecors.

A helicopter-borne VTEM magnetic and electromagnetic survey completed by Geotech in 2008 identified several electromagnetic anomalies.

Lake-sediment sampling conducted by the Ontario Geological Survey in 2010 identified a Ni-Cu-Co anomaly in Pecors Lake, interpreted as potentially originating from a nearby source.

A 2011 three-dimensional inversion of the magnetic survey data subsequently suggested a large trough-like magnetic body extending to depths exceeding approximately 1,700 metres.

Figure 1. The large Pecors magnetic anomaly within the Power One Pecors Project area.

2015 DRILLING CONFIRMED GABBRO AND NI-CU-PGE MINERALIZATION

Two deep holes drilled in 2015 provided the first significant subsurface test of the Pecors magnetic anomaly.

The drilling intersected gabbroic rocks beneath the Huronian sedimentary sequence, confirming that the magnetic anomaly is at least partially associated with a substantial mafic intrusive system.

Historical drilling in P-15-22 returned 0.351 g/t PGE, 1,053 ppm copper and 395 ppm nickel over 12.0 metres beginning at 917.5 metres downhole, within gabbroic lithologies.

P-15-22 entered the gabbro at approximately 595.5 metres depth. The second deep hole, P-15-23, remained within gabbro when drilling ended at approximately 1,317 metres, representing the drilling capability available to the historical operator at the time.

The historical drilling therefore established both the considerable vertical extent of the gabbroic system and the presence of nickel-copper-PGE mineralization within it.

Importantly, however, subsequent geophysical work identified deeper anomalous features that the 2015 drilling did not adequately test.

ZTEM IDENTIFIES DEEP-SEATED Zd1 AND Zd2 TARGETS

In 2018, Geotech completed a helicopter-borne ZTEM survey over the property.

Three-dimensional inversion modelling of the ZTEM resistivity data, modelled vertically from surface to approximately 1,500 metres, identified two deep-seated anomalous features designated Zd1 and Zd2.

Comparison of the ZTEM inversion model with the 2015 drill traces indicates that the historical holes did not adequately test these anomalous features.

Figure 2. 3D ZTEM resistivity cross-section for Line 1150 showing historical 2015 drill holes P15-22 and P15-23. The historical holes provided important geological information regarding the Pecors intrusive system but did not adequately test the subsequently identified deep-seated ZTEM targets.

Figure 3. 3D ZTEM resistivity section view showing anomalous features.

PLANNED 1,500-METRE HOLE DESIGNED TO DIRECTLY TEST Zd1

Power One’s planned approximately 1,500-metre vertical diamond drill hole represents a materially deeper and more targeted test of the Pecors system.

RECENT GOLD DISCOVERY BROADENS THE PECORS EXPLORATION MODEL

The deep Ni-Cu-PGE target represents only one component of the broader exploration opportunity at Pecors.

More recent drilling and subsequent analytical work resulted in the first reported discovery of gold mineralization at Pecors, materially broadening the exploration model for the property.

Results included 1.025 g/t Au over 1.5 metres in hole P02401, together with additional anomalous gold intervals.

The gold discovery is significant to the Company’s evolving geological interpretation because it demonstrates that mineralization at Pecors is not restricted to the historically recognized uranium-bearing horizons or the deeper Ni-Cu-PGE-bearing gabbroic intrusive rocks.

MULTIPLE GENERATIONS OF DATA SUPPORT THE PECORS EXPLORATION MODEL

• a regional magnetic anomaly measuring approximately 12 km by 4 km;
• a 2008 helicopter-borne VTEM magnetic and electromagnetic survey;
• 2011 3D magnetic inversion modelling suggesting a body extending to depths exceeding approximately 1,700 metres;
• historical Ni-Cu-PGE mineralization within the gabbro;
• a 2018 helicopter-borne ZTEM survey and subsequent 3D inversion modelling;
• identification of the deep-seated Zd1 and Zd2 geophysical targets;
• historical references to bitumen and hydrocarbon-related indicators that remain largely unevaluated.

NEXT STEPS

With the exploration permit now received, Power One is advancing preparations for the upcoming drill program.

The Company’s immediate objective is to complete the planned single approximately 1,500-metre vertical diamond drill hole targeting Zd1.

The permit encompasses two approved drill pad locations, providing the Company with flexibility to undertake additional drilling from those permitted locations should results from the initial hole, geological observations or subsequent technical interpretation warrant follow-up testing.

The planned deep hole is expected to provide important new geological information regarding the nature, scale and composition of the Pecors intrusive system and will assist the Company in refining its broader exploration model.

Power One will provide further updates regarding drill contracting, mobilization and the anticipated commencement of drilling as preparations advance.

QUALIFIED PERSON

The scientific and technical information contained in this news release has been reviewed and approved by Mike Kilbourne, P.Geo., a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Kilbourne is an independent consulting geologist and is at arm’s length to the Company.

Historical information referenced in this release has been derived from historical exploration records and previous public disclosure. The Qualified Person has not completed sufficient work to independently verify all historical information referenced herein, and such information should not be relied upon as necessarily indicative of future exploration results.

ON BEHALF OF THE BOARD OF DIRECTORS

POWER ONE RESOURCES CORP.
Wazir Khan
CEO & Director
+1 604 716 0551 Email: info@p1rc.com

ABOUT POWER ONE RESOURCES CORP.

Power One Resources Corp. is a Canadian exploration company focused on advancing high-potential mineral projects in Canada. The Company’s flagship Pecors Property, located near Elliott Lake, Ontario, represents a large-scale, multi-commodity exploration opportunity highlighted by an approximately 12-kilometre-long by 4-kilometre-wide magnetic anomaly interpreted to reflect a large buried intrusive complex. Previous drilling and geophysical work have demonstrated the potential for magmatic nickel-copper-platinum group element (“Ni-Cu-PGE”) mineralization at depth, and Power One is advancing plans to drill-test the system with a proposed hole of up to approximately 1,500 metres. The Company has secured a drill permit covering two drill-pad locations and multiple holes, providing flexibility to systematically evaluate this large geophysical target.

Recent exploration has broadened the geological potential of Pecors beyond its original Ni-Cu-PGE thesis. The discovery of gold mineralization during the Company’s 2024 exploration program, together with uranium mineralization and indications of additional commodities across the broader property, suggests Pecors may represent a substantially larger and more complex polymetallic mineralizing system than previously recognized. Power One believes the scale of the geophysical anomaly, combined with the diversity of mineralization identified to date, supports evaluating Pecors as a potential large polymetallic intrusive-related system rather than as a single-commodity target. The Company’s proposed deep drilling program is designed to test the core of the Pecors anomaly while continuing to build a more comprehensive understanding of the scale, composition and mineral potential of the overall system.

Power One also maintains exposure to the Wicheeda North Project, located approximately 80 kilometres north of Prince George, British Columbia, within an emerging rare earth element district and in proximity to Defense Metals Corp.’s Wicheeda Rare Earth Element Project. Power One has optioned Wicheeda North to Primary Hydrogen Corp. under an agreement whereby Primary Hydrogen may earn up to a 75% interest in the project through staged cash, share and exploration expenditure commitments. Upon completion of the earn-in, Power One would retain a 25% interest and the parties would form a joint venture to advance the project. The arrangement provides for continued exploration investment at Wicheeda North while allowing Power One to focus its capital and technical resources on unlocking the potential of its flagship Pecors Project.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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