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#SVML Sovereign Metals LTD – International Development Organisation Partnership
SOVEREIGN PARTNERS WITH INTERNATIONAL DEVELOPMENT ORGANISATION IN MALAWI
· Sovereign has entered into an MoU with The Palladium Group – a US-based international development entity operating in Malawi.
· Palladium implements several development projects, including the Feed the Future Malawi Growth Poles Project, which invests in local rural communities to advance sustainable, climate-smart, and inclusive wealth creation.
· Sovereign and Palladium will collaborate around Sovereign’s Kasiya Project to provide key agricultural inputs, training, technologies, and financing to develop and integrate smallholder farmers into the emerging high growth agriculture value chains.
· A central pillar of the MoU and partnership is Sovereign’s existing Conservation Farming Program, which aims to promote tried and tested improved small-scale agricultural practices, and the creation of community support and mentorship networks.
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Sovereign Metals Limited (ASX: SVM; AIM: SVML) (Sovereign) has signed a Memorandum of Understanding (MoU) with The Palladium Group (Palladium) – a US-based development entity implementing several development projects in Malawi including the Feed the Future Malawi Growth Poles Project (Growth Poles). Growth Poles is a US$50 million project that will run from 2023 to 2028.
Palladium is a global impact firm that works to link social progress and commercial growth. For nearly six decades, Palladium has been working with corporations, governments, investors, communities, and civil society to formulate strategies, build partnerships, mobilise capital, and implement programs that have a lasting social and financial impact. With a workforce of over 2,500 global leaders, Palladium has positively impacted the lives and livelihoods of more than 76 million people across 90 countries; broadening access to health, water, power, and infrastructure; building enduring, sustainable, and transformative institutions and market systems to address global challenges; and conserving the natural world.
Sovereign has launched several social development initiatives focused on improved health (provision of clean water), education (scholarships and school support), and conservation farming practices in communities located near and within Sovereign’s Kasiya Rutile-Graphite Project (Kasiya or Project) area.
The MoU identifies Sovereign as a potential anchor firm in Malawi and Kasiya as an anchor client or “Partner Growth Pole”. The MoU sets out a long-term vision for multi-partner investment and co-development aimed at supporting community engagement activities and scaling up the availability of commercial agriculture across Malawi, in particular in environmentally and economically vulnerable groups and households, to improve livelihoods for communities around the Kasiya Project.
A central pillar of the MoU and partnership is Sovereign’s existing Conservation Farming Program (refer to Company ASX announcements dated 26 February 2024 and 15 April 2024), which aims to promote tried and tested improved small-scale agricultural practices, and the creation of community support and mentorship networks. The Conservation Farming Program’s objective is to substantially improve crop yields of the farming communities within and around the Project area, thus improving food security and economic growth.
Sovereign and Palladium are already collaborating to provide Purdue Improved Crop Storage (PICS) bags to beneficiaries of Sovereign’s Conservation Farming Program. PICS are non-chemical, hermetically sealable bags that reduce post-harvest losses by 20-30% caused by poor storage of grains.
The MoU also establishes the foundation for the potential long-term development of partnerships with multiple private sector firms and development agencies, with the aim of catalysing diverse and inclusive development across a wide area, through mechanisms such as input financing, extension support, offtake arrangements, and complementary investments in value chain infrastructure. The MoU expires on 18 April 2028 and can be extended by mutual agreement.
Sovereign and Palladium Staff Standing Together with Sovereign’s Conservation Farming Beneficiaries
Sovereign’s Kasiya project is one of only 11 Tier 1[i] mineral deposits discovered in the last decade. It is the world’s largest Rutile resource and second largest flake Graphite resource, and has the potential to be the world’s largest, lowest cost, and lowest carbon producer of both minerals.
Sovereign recognises that the Kasiya Project presents an opportunity to assist Malawi in realising its stated Sustainable Development Goals and can directly benefit local communities. The positive impact of the Kasiya project will be further enabled through the development of partnerships with the Government of Malawi, international development organizations, and the private sector.
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#TEK Tekcapital Investee – Innovative Eyewear, Inc. Launches New Titanium Styles of Lucyd Lyte® 2.0
Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group notes that Innovative Eyewear, Inc. (“Innovative Eyewear”) (NASDAQ: LUCY; LUCYW), the developer and retailer of smart eyewear under the Lucyd®, Nautica® and Eddie Bauer® brands, announces today that five new styles of Lucyd Lyte 2.0 audio eyewear are now available. These new styles are an addition to the 10 styles of Lyte 2.0 introduced in early February. On top of including the major feature upgrades of the Lyte 2.0 such as 12 hours playback per charge, this collection update brings several new design aesthetics to the Lucyd Lyte 2.0 line and the smart eyewear market overall:
1. The Electra frame introduces the first smart eyewear with a two-tone titanium frontplate, bringing the category to a new height of luxurious finishes.
2. The Shimmer frame introduces the first smart eyewear on the US market in a rose gold titanium colour.
3. The Earthbound introduces the best-selling clubmaster style in a Bluetooth format, another first for the US smart eyewear market.
4. The Starlyte style is a key addition developed based on user demand for a cateye style designed for women.
With the introduction of these frames, Lucyd Lyte 2.0 eyewear is now available in 15 distinct styles, the most of any smart eyewear on the US market since the company’s Lyte 1.0 collection. The combination of two different temple lengths, seven styles designed specifically for women, and three styles designed for petite heads, truly open the typically adult male-oriented smart eyewear category to new demographics for the first time.
“With these five new styles of Lyte 2.0 smart eyewear, we are continuing to make the category more accessible than ever before, particularly to women and petite customers by giving them the sizing and styles they need,” says Harrison Gross, CEO of Innovative Eyewear. “A great pair of smartglasses is defined by three key factors: fashion, tech and suitability for all-day vision correction. The Lyte 2.0 collection addresses this successfully by offering smart frames with seamless, user-friendly Bluetooth features, high-end designer styling in a large number of shapes and sizes, and the comfort necessary for all-day wear.”
Watch a video of the new glasses here. Interested retailers are encouraged to visit our booth #P1951 at Vision Expo East 2023 in New York City, or to contact us at info@lucyd.co.
In other news, the popular tech and entertainment site ScreenRant (90m+ monthly visitors) just rated Lucyd Lyte 1.0 eyewear the best on the market.
About Innovative Eyewear, Inc.
Innovative Eyewear is a developer and retailer of cutting-edge smart eyewear, under the Lucyd®, Nautica® & Eddie Bauer® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives, and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co.
Tekcapital currently owns 5,189,086 shares (approximately 68%) of Innovative Eyewear, Inc.
For further information, please contact:
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Tekcapital Plc |
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Clifford M. Gross, Ph.D. |
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SP Angel Corporate Finance LLP (Nominated Adviser and Broker) |
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Richard Morrison/Charlie Bouverat (Corporate Finance)/Abigail Wayne / Rob Rees (Corporate Broking)
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Flagstaff Strategic and Investor Communications |
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About Tekcapital plc
Tekcapital creates value from investing in new, university-developed discoveries that can enhance people’s lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.
LEI: 213800GOJTOV19FIFZ85
Forward-Looking Statements
This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Innovative Eyewear, Inc., Lucyd or Tekcapital that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “anticipate” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Tekcapital, Innovative Eyewear Inc. or Lucyd’s management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Innovative Eyewear Inc., Lucyd and/or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Other than as required by relevant regulation or law, neither Innovative Eyewear Inc, Lucyd nor Tekcapital intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
#TEK TekCapital PLC – Launch of Lucyd Lyte 2.0 Smart Eyewear
Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group notes that Innovative Eyewear, Inc. (“Innovative Eyewear”) (NASDAQ: LUCY; LUCYW), the developer and retailer of smart eyewear under the Lucyd®, Nautica® and Eddie Bauer® brands, has announced the launch of Lucyd Lyte 2.0, (“Lyte 2.0”) a major upgrade to its flagship Lucyd Lyte audio eyewear platform.
The new Lucyd Lyte 2.0 line brings several advances to the company’s core product and is available now, in any optical prescription, at Lucyd.co. The Company intends to introduce the product to optical and specialty retail chains worldwide. The Lyte 2.0 marks the culmination of years of R&D to realize the company’s mission to make smart eyewear more accessible, useful and stylish for the optical and sunglass markets. New features of the Lyte 2.0 are as follows below:
· A four-speaker array provides immersive open-ear audio, that matches the sound quality of traditional earbuds without obstructing your hearing. The new speaker system provides an enhanced mid-range and bass response compared to the previous Lucyd Lyte.
· Audio input is improved with the introduction of dual noise-cancelling microphones. The Lyte 2.0 is ideal for recording audio content such as podcasts and voice messages and improves the fidelity of phone calls and input for voice assistants like Siri® compared to most built-in smartphone microphones.
· The battery life of the glasses has been improved to 12 hours of music playback and call time per charge, a 50% uplift over the previous model.
· The collection boasts 15 trending eyewear styles crafted by an experienced eyewear design team. 10 styles are available now, with the remaining five in pre-order until their expected availability in March 2023.
· The collection includes optical frames designed specifically for women and petite heads, as part of the company’s initiative to develop smart eyewear for all head shapes and sizes.
· The power and pairing indicator LEDs have been moved to a more discreet location in the inner temple.
· Touch controls now give an audible signal whenever the user adjusts volume or uses the other button functions, such as activating the voice assistant.
· Two new custom hinge types to enable a stronger, more aesthetically pleasing connection from the frontplate to the smart temple.
· Strength of the magnetic charging connection is improved, and the new collection is backwards compatible with the existing Lucyd Dock charger introduced with the original Lyte.
· The glasses use Bluetooth 5.2, providing improved connection stability over the previous 5.1 model.
· The glasses are offered with a new selection of over 20 custom lenses on Lucyd.co, now including gradient sunglasses and the latest cutting-edge Transitions® XTRActive Polarized and Signature Colors lenses.
· All of these features are added whilst maintaining price parity with traditional eyeglasses.
“Simply put, we believe there is no smart eyewear on the market that is as bold, beautiful and functional as the Lucyd Lyte 2.0,” says Harrison Gross, CEO of Innovative Eyewear. “We are in a unique place in history, where time-tested devices like the wristwatch and eyeglasses are being reimagined as onramps into our digital lives. I am grateful and amazed that my team was able to develop smart eyewear that truly delivers on the promise of wearables to make many forms of data and mobile computing easier to access, more natural and seamless. Unlike many companies that produce smart eyewear alongside dozens or hundreds of other products, we are singularly focused on this emerging category to make it useful and exciting for the consumer. I encourage everyone to upgrade their eyewear® with the Lyte 2.0, to see and hear the difference that years of thoughtful and rigorous development on a single core concept can make.”
Watch a video of the new glasses here.
About Innovative Eyewear, Inc.
Innovative Eyewear is a developer and retailer of cutting-edge smart eyewear, under the Lucyd®, Nautica® & Eddie Bauer® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives, and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co.
Tekcapital currently owns 5,189,086 shares (approximately 71%) of Innovative Eyewear, Inc.
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Photos and images courtesy of Innovative Eyewear Inc.
For further information, please contact:
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Tekcapital Plc |
Via Flagstaff |
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|
Clifford M. Gross, Ph.D. |
||
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SP Angel Corporate Finance LLP (Nominated Adviser and Broker) |
+44 (0) 20 3470 0470 |
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Richard Morrison/Charlie Bouverat (Corporate Finance)/Abigail Wayne / Rob Rees (Corporate Broking)
|
||
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Flagstaff Strategic and Investor Communications |
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+44 (0) 20 7129 1474 |
|
Tim Thompson/Andrea Seymour/Fergus Mellon |
|
About Tekcapital plc
Tekcapital creates value from investing in new, university-developed discoveries that can enhance people’s lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.
LEI: 213800GOJTOV19FIFZ85
Forward-Looking Statements
This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Innovative Eyewear, Inc., Lucyd or Tekcapital that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “anticipate” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Tekcapital, Innovative Eyewear Inc. or Lucyd’s management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Innovative Eyewear Inc., Lucyd and/or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Other than as required by relevant regulation or law, neither Innovative Eyewear Inc, Lucyd nor Tekcapital intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.