Category: Business

Multi-Billion-Dollar Program With Up To 400 Units Ordered to Modernize Crude Transport Infrastructure

TOMBALL, TX / ACCESS Newswire / June 20, 2025 / QS Energy, Inc. (OTCQB:QSEP), a leader in crude oil transport technology, has received a major order to deploy its Applied Oil Technology (AOT) across Southeast Asia and Africa. This marks a breakthrough moment for QS Energy and supports global efforts to modernize and decarbonize crude infrastructure.

DELIVERING ON A PROMISE OF INNOVATION AND SUCCESS

This initial order of five (5) AOT units launches a broader multi-phase deployment under a government-backed program with VIPS Petroleum. Valued at $25 million with the estimated expected full payment in this quarter, this order kicks off up to a $2 Billion 400-unit framework for South East Asia and Africa. The remaining 395 units will be delivered in milestone-based phases with a 50/25/25 payment structure, ensuring strong cash flow for QS Energy, commencing in Q3 and Q4 2025. AOT’s proven results helped open doors with energy ministries and national oil companies. This deal is made possible by VIPS Petroleum, QS Energy’s exclusive regional distributor contracted in 2024.

Cecil Bond Kyte, CEO of QS Energy, stated: “This order proves our technology’s readiness to transform crude transport. With VIPS and the support of ministries and operators, we’re setting a new global standard for efficiency and sustainability.”

THE TECHNOLOGY TRANSFORMING CRUDE TRANSPORT

Independently validated through peer-reviewed studies, field trials, and Temple University testing, AOT tackles one of the industry’s oldest problems-how to move oil more efficiently. Since the days of Rockefeller’s Standard Oil, the sector has battled viscosity, drag, and energy loss. AOT reduces viscosity by 10% or more using electric fields, lowering pump pressure and energy costs. Built for tough, continuous operation, each unit undergoes strict testing to ensure long-term performance.

MADE IN AMERICA, BUILT FOR THE WORLD

QS Energy proudly designs and manufactures AOT systems in the U.S., powered by American workers. Our partners include:

• Industrial Screen and Maintenance, a manufacturer with 56+ years of experience

• Precision Urethane, a family business – urethane leader for 55+ years

• ReadyFlo, a turnkey ASME pressure vessel specialist

• Forward-MFG, experts in custom electronics and sensors

Their dedication helped make this historic deal possible.

EXPANDING GLOBAL PARTNERSHIPS AND FINANCING

This agreement positions Southeast Asia and Africa as leaders in modern crude transport and job creation. The success of this model is driving expansion talks with Australia, the Middle East, and other regions. QS Energy and VIPS Petroleum are finalizing additional deals to replicate this structure and broaden AOT deployment globally.

SECURE IMPLEMENTATION AND COMPLIANCE

QS Energy is committed to full transparency through regular updates and strict compliance with U.S., Southeast Asian, and African standards. The program is backed by milestone payments and top-tier financial guarantees, minimizing risk. Lessons from past deployments guide a robust execution plan to ensure every phase meets deadlines and quality benchmarks.

OTHER CONSIDERATIONS

QS Energy will earn a share of incremental barrels gained through AOT-enabled flow increases, creating long-term performance-based revenue.

LOOKING AHEAD

With deployment underway, QS Energy is focused on accelerating its role in the energy transition. AOT’s cost savings and environmental benefits position it for major global impact.

For further information about QS Energy, Inc., click here and read our SEC filings at https://ir.qsenergy.com/sec-filings. To stay connected, subscribe to Email Alerts at https://ir.qsenergy.com/news/email-alerts to receive Company filings and press releases, and subscribe to our new QS UPDATES email service here to receive timely updates on the Company’s latest news and innovations.

Safe Harbor Statement

Some of the statements in this release may constitute forward-looking statements under federal securities laws. Please click here for our complete cautionary forward-looking statement.

About Applied Oil Technology

QS Energy’s patented Applied Oil Technology (AOT) is a solid-state turn-key system which uses a high volt / low amp electric field to reduce crude oil viscosity. AOT installs inline on crude oil pipelines, operates unattended without interrupting pipeline flow, with full remote monitoring and control. More information is available online here.

About QS Energy

QS Energy, Inc. (OTCQB: QSEP), develops and markets crude oil flow assurance technologies designed to deliver measurable performance improvements to pipeline operations in the midstream and upstream crude oil markets. For further information about QS Energy, Inc., visit www.qsenergy.com.

Company Contact

QS Energy, Inc.
Tel: +1 844-645-7737
E-mail: investor@qsenergy.com
Sales: sales@qsenergy.com

SOURCE: QS Energy, Inc.

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Experienced Global Investment Executive and Strategic Advisor to Support the Company’s Next Phase of Growth

ROSH HA‘AYIN, IL / ACCESS Newswire / June 20, 2025 / Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy”, or the “Company”) (Nasdaq:BNRG), a leading global provider of Thermal Energy Storage (TES) solutions for industrial and utility customers, today announced the appointment of Mr. Boaz Toshav as an Independent Director to its Board of Directors (the “Board”), effective immediately.

Mr. Toshav previously served on the Company’s Board from June 2023 until August 2024. Mr. Toshav has over 20 years of experience in investment banking, fixed income and mergers and acquisitions advisory services. He is currently President and Chairman of Rio Ave FC (Primeira Liga), a professional Portuguese football (soccer) club, and he previously served as a senior financial advisor to UK-based Nottingham Forest FC and Greece-based Olympiacos FC. Mr. Toshav also currently serves as the Chief Executive Officer of Umbrella Advisors Ltd., a boutique investment bank and financial advisory firm he founded in 2014. Mr. Toshav has also been a board member of Intelicanna Ltd. (TASE: INTL) and Getruck Ltd. since 2018 and 2021, respectively. Mr. Toshav received a Bachelor of Arts degree in Economics and Business Administration from Tel Aviv University, as well as a Master of Philosophy from Tel Aviv University. Mr. Toshav qualified as a United Kingdom Financial Services Authority certified investment advisor in 2005.

“We are honored to welcome Boaz back to our Board,” said Avi Brenmiller, Chairman and Chief Executive Officer of Brenmiller Energy. “His proven ability to navigate financial markets, advise boards, and drive strategic partnerships will be instrumental as we enter a pivotal moment in our Company’s evolution. With multiple commercial projects underway and a growing global footprint, we believe that Boaz’s appointment will strengthen our governance and position us to realize significant value creation for our shareholders.”

Mr. Toshav succeeds Ms. Nava Swersky Sofer, who concluded her term on the Board following six years of dedicated service. Ms. Swersky Sofer’s departure was in accordance with the natural expiration of her term and was not the result of any disagreement with the Company. The Board and management extend their sincere appreciation for her strategic insight and leadership during a period of meaningful growth and transformation at Brenmiller Energy.

This appointment follows Brenmiller’s recent strategic milestones, including project deployments in Europe, Israel, and the United States. Notably, the European Hydrogen Bank has granted SolWinHy Cádiz S.L. (the “SolWinHy Project”) in Arcos de la Frontera, Spain, €25 million in funding. SolWinHy is a special purpose company jointly owned by leading renewable energy developers Green Enesys Group (“Green Enesys”) and Viridi RE (“Viridi”) to build new green hydrogen and green e-methanol projects in Europe. Green Enesys and Viridi are Brenmiller’s joint venture partners in Brenmiller Europe S.L. (“Brenmiller Europe”). The Company estimates its supply of the bGen™ TES system for the SolWinHy Project to be approximately €7 million. The Company believes that its involvement with the SolWinHy Project reinforces the strength of its bGen™ technology and the Company’s role in enabling renewable fuel production at scale. Brenmiller continues to expand its role as a key enabler of flexible, clean industrial heat in support of global net-zero targets.

About Brenmiller Energy Ltd.

Brenmiller Energy helps energy-intensive industries and power producers end their reliance on fossil fuel boilers. Brenmiller’s patented bGen™ ZERO thermal battery is a modular and scalable energy storage system that turns renewable electricity into zero-emission heat. It charges using low-cost renewable electricity and discharges a continuous supply of heat on demand and according to its customers’ needs. The most experienced thermal battery developer on the market, Brenmiller operates the world’s only gigafactory for thermal battery production and is trusted by leading multinational energy companies. For more information visit the Company’s website at https://bren-energy.com/ and follow the company on X and LinkedIn.

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. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company uses forward-looking statements when it discusses: the Company’s belief that Mr. Toshav’s appointment will strengthen the Company’s governance and position to realize significant value creation for shareholders; that the Company s entering a pivotal moment in its evolution; future commercial projects underway and a growing global footprint; the Company’s estimates for its supply of the bGen™ TES system for the SolWinHy Project to be approximately €7 million; that the Company’s involvement with the SolWinHy Project reinforces the strength of its bGen™ technology; the Company’s role as a key enabler of flexible, clean industrial heat in support of global net-zero targets. Without limiting the generality of the foregoing, words such as “plan,” “project,” “potential,” “seek,” “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company’s actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company’s results include, but are not limited to: the Company’s planned level of revenues and capital expenditures; risks associated with the adequacy of existing cash resources; the demand for and market acceptance of our products; impact of competitive products and prices; product development, commercialization or technological difficulties; the success or failure of negotiations; trade, legal, social and economic risks; and political, economic and military instability in the Middle East, specifically in Israel. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission (“SEC”) on March 4, 2025, which is available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact: investors@bren-energy.com

SOURCE: Brenmiller Energy

View the original press release on ACCESS Newswire

Creates Cloud-Based Software Platform to Seamlessly Connect Users, EVs and their Utilities to Electricity Grids Across Canada Creating a Pan-Canadian Pool of EV-Enabled Storage for Off Taking Renewable Energy

OTTAWA, ONTARIO / ACCESS Newswire / June 20, 2025 / BluWave-ai announced the launch of the Pan-Canadian BluWave-ai EV Everywhere Infrastructure Cube, a cloud-based platform designed to transform the country’s electric vehicles (EV) into a massive distributed energy storage network. The platform seamlessly connects EV drivers and their vehicles with utilities and grids across Canada, creating a virtual pool of EV-enabled storage that far exceeds the scale of planned utility deployments.

Currently, Canada’s electricity infrastructure operates largely as isolated provincial grids. As EV adoption accelerates, unmanaged charging threatens to overwhelm local grids; especially in urban centers. The BluWave-ai EV Everywhere Infrastructure Cube addresses this by creating a unified, cross-country cloud platform that coordinates EV energy use across Canada, leveraging the investments made by private EV owners.

BluWave-ai automatically charges EVs using real-time AI deployed on the platform when surplus renewable power is available locally (such as during periods of high solar or wind generation) and likewise pauses or delays charging in areas where the grid is under stress. Participating utilities can send localized congestion signals, enabling the platform to adjust charging behavior dynamically across thousands of vehicles. EV drivers who opt-in to the platform receive rewards while helping balance the grid.

According to Statistics Canada, over one million EVs will be on Canadian roads in 2025. This collective pool of EVs, if coordinated across the country, can provide 1.1 GW of demand response power at any point and 88GWh of storage on a weekly basis.*

“As of January 2024, all electricity grids in Canada combined for only 356MW of storage according to CANREA, which roughly implies EV based storage in the 2.5-3x magnitude of utility scale storage in Canadian grids.” said Devashish Paul, CEO and Founder of BluWave-ai. “Prior to this, there was no standardized way for EV users to connect with utilities, and no automated system to balance driver needs with the provincial grids’ stability on a country-wide scale. Using deep tech AI systems, we created and launched this platform to unify electrified transportation and smart grids into the Pan-Canadian energy corridor, harnessing the power of citizen-owned assets to build a more resilient and renewable-powered country.”

How the Infrastructure Cube Works

The BluWave-ai EV Everywhere Infrastructure Cube is a cloud platform that prevents grid overload from simultaneous EV charging in congested areas and by off taking excess renewables during periods of high generation and low loads through AI managed energy flow.

Visualized as a cube, the platform connects four key faces of the energy ecosystem:

• EV Users: Individual drivers can onboard to the platform to receive rewards and benefits.

• Electric Vehicles: The system is compatible with major EV brands, including Hyundai, Kia, Tesla, MINI, Jaguar, and BMW, using their native telematics with more on the roadmap, including delivery EV’s and large transit

• Utility Providers: Local utilities can register to send real-time data on grid congestion, enabling automated load management.

• System Operators: The platform provides a macro-level view, allowing system-wide grid constraints to be managed effectively with live feeds of electricity loads and generation types streamed into the system.

Any combination of the above can work 24×7 with our AI-based automated management taking into account the needs and limitations from all sides.

At the intersection from any direction are unique AI predictors and optimizers working in real-time to balance and optimize the needs of all parties – from individual driver preferences to the needs of local utilities rolled up to system-level grid stability. The underlying technology is supported by a suite of 36 patents filed with the USPTO, 10 of which have been granted and specifically USPTO pending patent: 18/806,264 and Canada pending patent 3,258,465 which support the system to connect both personal EV’s and EV Fleets seamlessly to grids.

The BluWave-ai EV Everywhere Infrastructure Cube builds on the successful deployment of the BluWave-ai EV Everywhere platform and Canada’s first ever AI-enabled aggregated EV demand response conducted in the Hydro Ottawa utility in the IESO grid in Ontario, Canada.

Industry Leaders Welcome Pan-Canadian Energy Storage Platform

“BluWave-ai is a shining example of the Nation of Builders we’re cultivating in Canada -ambitious founders creating frontier technologies with global relevance,” said Claudio Rojas, CEO of the National Angel Capital Organization (NACO). “Their selection as a NACO Moonshots Venture underscores our belief that Canadian-led innovation can power a more self-reliant, resilient, and prosperous future. The release of the Pan-Canadian EV Everywhere Infrastructure Cube is a powerful reflection of this vision-scaling AI-enabled platforms that enhance grid resilience, accelerate the energy transition, and reinforce Canada’s digital and economic sovereignty.”

“BluWave-ai has delivered another creative energy solution to a challenging problem opening the way to EV mass adoption, while increasing clean energy access’ said Suzanne Grant, executive Director of Capital Angel Network (CAN), the largest group of early stage private angel investors in the National Capital Region,” said Suzanne Grant, Executive Director of Capital Angels Network, “BluWave-ai has another first of its kind ‘Built in Canada for the World’ solution in the hot energy storage market. Their solutions are being adopted by energy utilities as part of the critical infrastructure grid key to Canada’s energy superpower aspirations. CAN investors shared BluWave-ai’s vision since supporting their oversubscribed $1.3M Pre Seed Round in 2019 and participating in their 2022 $9.5M Series A round to scale their (now successful) international deployments’ added Grant, ‘CAN angels believe in Canadians investing in Canadians and are bringing valuable mentorship, network, as well as, personal risk capital as partners with Canadian founders building for scale and impact”

“Invest Ottawa is proud to collaborate with BluWave-ai-a bold Canadian scale-up harnessing AI to deliver sustainable energy solutions with global impact. The new EV Everywhere Infrastructure Cube exemplifies triple-bottom-line innovation,” said Sonya Shorey, CEO at Invest Ottawa, ” It drives economic growth, strengthens our national energy resilience, and accelerates our transition to a clean, inclusive future. This is the kind of leadership we need to build a strong, sustainable Canadian economy.”

How to Join the Platform

• For EV Drivers: Drivers in Canada and the US can join the network by downloading the EV Everywhere mobile app v2.0 and linking their vehicle to receive rewards and gain insights into their energy use. The app offers features for optimized charging, cost savings, and carbon footprint reduction.

  • Download for Android

  • Download for iPhone

• For Utilities and System Operators: Interested parties can become collaborators through standardized APIs for real-time data exchange. The platform is hosted in Canada and can be accessed by contacting BluWave-ai at info@bluwave-ai.com.

Platform Availability

The BluWave-ai EV Everywhere Infrastructure Cube is currently deployed with hyper-localized support in Prince Edward Island, Nova Scotia, Ontario, and British Columbia, with general coverage available for the rest of Canada. The platform is also export-ready and is being deployed in Puerto Rico, USA, with support for other US grids.

Read more technical information on the BluWave-ai EV Everywhere Infrastructure Cube.

Note 1: BluWave-ai Analyst results from 2023-2025 grid connected vehicle usage and Statistics Canada projections on vehicle deployments:

• ~80 kWh storage usage per ZEV .weekly energy use per ZEV (avg. mileage of 20,000 km per year, ~4.8 km/kWh)

• 7.2 kW avg. peak charging speed for home L2 15% of vehicles connected to grid based on BluWave-ai analysis yields 1 kW per EV of average power connection to grid

SOURCE: BluWave-ai

View the original press release on ACCESS Newswire

Clear Start Tax Explains Why Not Everyone Qualifies for IRS Fresh Start, and What It Really Takes to Settle Tax Debt for Less

IRVINE, CA / ACCESS Newswire / June 20, 2025 / The IRS Fresh Start Program has helped many taxpayers resolve overwhelming tax debt, but according to Clear Start Tax, widespread myths continue to mislead the public about who actually qualifies. While many companies advertise Fresh Start as a guaranteed solution, the reality is that eligibility depends on strict financial guidelines that the IRS carefully evaluates.

“Fresh Start can absolutely provide life-changing relief, but not everyone qualifies automatically,” said the Head of Client Solutions at Clear Start Tax. “Too often, people are told they’re eligible without anyone reviewing their full financial picture.”

The Biggest Myth: Everyone Qualifies

Clear Start Tax says the most common misunderstanding is that Fresh Start is an open invitation for anyone who owes back taxes to settle for pennies on the dollar. In truth, Fresh Start is a collection of IRS programs – such as Offer in Compromise, Installment Agreements, and Currently Not Collectible status – each with its own eligibility rules.

“The IRS doesn’t approve Fresh Start offers based on how much you owe. They approve based on how much you can actually pay,” the Head of Client Solutions at Clear Start Tax explains.

What the IRS Looks at to Determine Eligibility

The IRS reviews every applicant’s financial situation in detail. Key factors include:

• Income: Wages, self-employment, retirement income, and household earnings

• Assets: Equity in real estate, vehicles, bank accounts, retirement funds, and investments

• Expenses: Necessary living costs including housing, food, insurance, medical expenses, and dependents

• Household Size: How many people rely on the taxpayer’s income

• Age and Health: Retirement status or medical conditions may impact financial analysis

The IRS calculates a taxpayer’s “reasonable collection potential” based on these factors to decide whether full or partial settlement is allowed.

By answering a few simple questions, taxpayers can find out if they’re eligible for the IRS Fresh Start Program and take the first step toward resolving their tax debt.

How Clear Start Tax Builds Strong Cases

Because the IRS process is heavily document-driven, Clear Start Tax takes a hands-on approach to preparing each Fresh Start application. Their team:

• Conducts full financial reviews to uncover eligibility

• Collects and organizes required documentation

• Calculates accurate offer amounts based on IRS formulas

• Communicates directly with the IRS on the client’s behalf

• Protects clients from submitting unrealistic or non-compliant offers

“The goal isn’t just to submit paperwork, but to submit a proposal the IRS will actually accept,” the Head of Client Solutions added. “That’s where professional preparation makes all the difference.”

Beware of Companies That Overpromise

Clear Start Tax also warns taxpayers to be cautious of companies that promote guaranteed Fresh Start approvals or claim every debt can be settled for next to nothing.

“If someone promises you guaranteed Fresh Start approval before reviewing your full financial profile, that’s a red flag,” said the Head of Client Solutions at Clear Start Tax. “The IRS does not accept every offer, and submitting weak or incomplete proposals can lead to unnecessary delays and additional financial consequences.”

About Clear Start Tax

Clear Start Tax is a full-service tax liability resolution firm that serves taxpayers throughout the United States. The company specializes in assisting individuals and businesses with a wide range of IRS and state tax issues, including back taxes, wage garnishment relief, IRS appeals, and offers in compromise. Clear Start Tax helps taxpayers apply for the IRS Fresh Start Program, providing expert guidance in tax resolution. Fully accredited and A+ rated by the Better Business Bureau, the firm’s unique approach and commitment to long-term client success distinguish it as a leader in the tax resolution industry.

Need Help With Back Taxes?

Click the link below:
https://clearstarttax.com/qualifytoday/
(888) 710-3533

Contact Information

Clear Start Tax
Corporate Communications Department
seo@clearstarttax.com
(949) 535-1627

SOURCE: Clear Start Tax

View the original press release on ACCESS Newswire

HOUSTON, TX / ACCESS Newswire / June 20, 2025 / EON Resources Inc. (NYSE American:EONR) (“EON” or the “Company”) is an independent upstream energy company with oil and gas properties in the Permian Basin. The Company announced today that EON Energy, LLC, a Delaware limited liability company (“EON Energy, LLC”), a wholly owned subsidiary of the Company, has entered into a Purchase and Sale Agreement (“Agreement”) with WPP NM, L.L.C. and Northwest Central, L.L.C. (collectively the “Seller”) to acquire all of their respective interests in the South Justis Field located in the Permian Basin in Lea County, New Mexico.

The Company will exchange 1.0 million Class A common shares of the Company without any cash consideration or debt for EON Energy to acquire a 94% working interest in the South Justis Field. With the estimated $1.2 million in net annual cash flow, the transaction is expected to be accretive. The effective date of the acquisition is June 1, 2025.The transaction is expected to close June 20, 2025.

South Justis Field (“SJF” or “South Justis Field”) Profile:

• South Justis is currently producing 108 barrels of oil per day (“BOPD”) from 19 actively producing wells which adds $1.2 million in net cash flow annually with minimal impact to the G&A costs of the Company. We estimate that the production and related cash flow has the potential to double and triple within a year based upon the rate remaining idle wells in the South Justis Field can be returned to active production.

• The South Justis Field is located in Lea County, New Mexico in the Central Basin of the Permian Basin, the most prolific oil-producing region in the United States. The South Justis Field is located a short distance from our Grayburg-Jackson Field in Eddy County, New Mexico allowing for efficiencies of scale.

• Original Oil in Place (“OOIP”) was 210 million barrels of oil with 30 million barrels produced to date. EON Energy believes 15 million barrels of recoverable reserves can be developed with existing well recompletions and new well drilling.

• The property EON Energy is acquiring includes 5,360 leasehold acres with a total of 208 wells comprised of half being oil producing and the other half being water injection wells. There are 19 active oil producing wells.

• Producing zones in the South Justis Field are at a depth of 5,000 feet to 7,000 feet in the Glorietta, Blinebry, Tubb, Drinkard and Fusselman intervals.

• Approximate working interest acquired is 94% with a net revenue interest of 82%.

South Justis History and Planned Development:

• The initial production from the SJF in the 1960’s was 6,000 BOPD, indicating good potential for high primary production rates from recompletions into untapped behind pipe pay zones, along with newly drilled wells.

• The South Justis Field historically has had a low decline rate curve. The South Justis Field produced a very steady 250 BOPD before wells went offline due to mechanical issues.

• Within the last three months, the Seller repaired and reactivated 6 wells to production adding 50 BOPD with minimal costs. This is EON Energy’s same strategy to increase South Justis oil production.

• The EON Energy team plans to return 30 wells this year to production with an expected average of 5-10 BOPD per well, yielding field wide production of 250 to 400 BOPD.

• EON Energy will combine lessons learned by the Seller and from the Company’s well stimulation experience in the Grayburg-Jackson field, to develop the SJF.

• Seller will operate SJF for the next few months for the benefit of EON Energy, with existing field employees transitioning to EON Energy.

“Step one in development of South Justis Field is to return idle wells to production to double oil production. Step two is to stimulate existing wellbores using the same techniques the Company successfully employs in our Grayburg Jackson Field,” said Dante Caravaggio, President and CEO of the Company. “We also plan to seek a drilling partner who will bring the necessary capital and expertise to develop the South Justis Field, with the same approach we are taking with our Grayburg Jackson Oil Field.”

“To help realize the South Justis Field potential, EON Energy has contracted with an affiliate of the Seller to provide an experienced workover crew and workover rig familiar with the SJF – the same team that already more than doubled South Justis oil production,” said Jesse Allen, Vice President of Operations for the Company. “As was done for our Grayburg-Jackson Oil Field, we plan to commission a 3rd party study to optimize our development of the South Justis Field. Our in-house technical team’s work gave us strong encouragement to purchase the field.”

About the Company’s Grayburg-Jackson Oil Field

LH Operating, LLC (“LHO”), a wholly owned subsidiary of the Company, operates its holdings of oil and gas waterflood production comprising 13,700 contiguous leasehold acres, 342 producing wells and 207 injection wells situated on 20 federal and 3 state leases in the Grayburg-Jackson Oil Field in New Mexico. The Grayburg-Jackson Oil Field is located on the Northwest Shelf of the prolific Permian Basin in Eddy County, New Mexico.

About EON Resources Inc.

EON is an independent upstream energy company focused on maximizing total returns to its shareholders through the development of onshore oil and natural gas properties in the United States. EON’s long-term goal is to maximize total shareholder value from a diversified portfolio of long-life oil and natural gas properties built through acquisition and through selective development, production enhancement, and other exploitation efforts on its oil and natural gas properties.

EON’s Class A Common Stock trades on the NYSE American Stock Exchange (NYSE American: EONR) and the Company’s public warrants trade on the NYSE American Stock Exchange (NYSE American: EONR WS). For more information on EON, please visit the Company’s website: https://eon-r.com/

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from what is expected. Words such as “expects,” “believes,” “anticipates,” “intends,” “estimates,” “seeks,” “may,” “might,” “plan,” “possible,” “should” and variations and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements relate to future events or future results, based on currently available information and reflect the Company’s management’s current beliefs. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking statements. Important factors – including the availability of funds, the results of financing efforts and the risks relating to our business – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on EDGAR (see www.edgar-online.com) and with the Securities and Exchange Commission (see www.sec.gov). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Investor Relations

Michael J. Porter, President
PORTER, LEVAY & ROSE, INC.
mike@plrinvest.com

SOURCE: EON Resources Inc.

View the original press release on ACCESS Newswire

VANCOUVER, BC / ACCESS Newswire / June 20, 2025 / Organto Foods Inc. (TSXV:OGO)(OTC PINK:OGOFF) (“Organto” or the “Company“) is pleased to announce that, as part of its efforts to reduce debt and increase equity in the Company, it has completed the previously announced settlement (the “Settlement“) of its 8.0% convertible unsecured subordinated debentures due November 30, 2026 with an aggregate face value of C$8,050,000 (the “Debentures“) (see the Company’s news releases dated May 1, 2025, March 30, 2025, and March 11, 2025).

Under the terms of the Settlement, all outstanding Debentures (including all principal amounts and all accrued and unpaid interest owing thereunder) were exchanged for the issuance by the Company of an aggregate of 40,250,000 common shares of the Company (the “Settlement Shares“) at an issue price of $0.20 per Settlement Share for an aggregate issue price of $8,050,000. Each Debenture holder received the number of Settlement Shares that is equal to the aggregate principal amount of the Debentures held by such Debenture holder divided by $0.20.

The Settlement Shares are subject to contractual restrictions on transfer whereby such shares will be released over a 30-month period from June 11, 2025, being the date of issuance of the Settlement Shares (the “Issue Date“) as follows:

• 25% of the Settlement Shares will be released on the date that is 21 months following the Issue Date;

• 25% of the Settlement Shares will be released on the date that is 24 months following the Issue Date;

• 25% of the Settlement Shares will be released on the date that is 27 months following the Issue Date; and

• 25% of the Settlement Shares will be released on the date that is 30 months following the Issue Date.

Steve Bromley, Chair and CEO commented “We are extremely pleased to complete the settlement of the Debentures, which aligns with our efforts to reduce debt and increase equity in the Company. Following this Settlement, the Company has approximately C$2.6 million of debt outstanding, and when combined with the recent completion of our $5.3 million private placement and our record first quarter 2025 financial results, we are truly excited by our future prospects. We remain intently committed to building a world-class foods company serving growing healthy foods markets, with the goal of creating long-term value for our operating partners, customers, team members and shareholders. We appreciate the support and understanding we have received from so many of our shareholders, debenture holders and key operating partners and are confident that we are well positioned for a successful future.”

Prior to completion of the Settlement, Debenture holders representing 68.89% of the outstanding principal amount of the Debentures provided written consent in favor of a resolution approving the Settlement, which exceeded the 66.7% threshold required under the trust indenture governing the Debentures. As a result, a meeting of Debenture holders to approve the Settlement was not necessary.

In accordance with the terms of a Corporate Finance Advisory agreement (the “Advisory Agreement“) between the Company and Jaluca Limited (“Jaluca“), the Company retained Jaluca to provide guidance and assistance in negotiating and implementing the overall restructuring of the Company, including the reduction of the Company’s substantial debts and refinancing (see news release dated March 20, 2025). As disclosed in the Company’s March 20, 2025 news release the Advisory Agreement provided for the payment of various fees, including a monthly fee and success-based fees. For its assistance in negotiating and implementing the Debenture restructuring and settlement, the Company agreed, subject to the approval of the TSX Venture Exchange (the “TSXV“)and disinterested shareholder approval in accordance with the policies of the TSXV, to pay Jaluca a fee equal to 6% of the total amount of settled Debentures, excluding any Debentures held by Jaluca (the “Fee“). As a result, the Company has agreed to issue an aggregate of 4,380,000 common shares in the capital of the Company at a deemed issue price of $0.10 per share in full payment of this obligation. The Company plans to immediately seek shareholder approval for the issuance of these common shares.

ON BEHALF OF THE BOARD

Steve Bromley
Chairman and CEO

For more information, contact:
Investor Relations
John Rathwell, Senior Vice President, Investor Relations & Corporate Development
647 629 0018
info@organto.com

ABOUT ORGANTO

Organto is a leading provider of branded, private label, and distributed organic and non-GMO fruit and vegetable products using a strategic asset-lighter business model to serve a growing socially responsible and health-conscious consumers. Organto’s business model is rooted in its commitment to sustainable business practices focused on environmental responsibility and a commitment to the communities where it operates, its people, and its shareholders.

FORWARD LOOKING STATEMENTS

This news release may include certain forward-looking information and statements, as defined by law, including without limitation, Canadian securities laws and the “safe harbor” provisions of the US Private Securities Litigation Reform Act (“forward-looking statements”). In particular, and without limitation, this news release contains forward-looking statements respecting the Company’s efforts to restructure and reduce overall debt and increase equity in the Company; the Company’s belief that when combined with the recently completed private placement and shares for debt settlements and record first quarter 2025 results, the Company’s future is very promising; the Company’s belief that its commitment to building a world class foods company should lead to the creation of long-term value; and the Company’s plans to seek disinterested shareholder approval in respect of payment of the Fee through the issuance of common shares in the capital of the Company. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including, without limitation, the assumption that the Company will be able to continue to grow its operations and raise necessary financial resources to support this growth and that both disinterested shareholder approval and TSXV approval in connection with the payment of the Fee through the issuance of common shares in the capital of the Company will be obtained in a timely manner and on terms consistent with management’s expectations. There can be no assurance that forward-looking statements 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 statements. Factors that could cause actual results to differ materially from those anticipated in forward-looking statements in this news release include, among others, regulatory risks; risks related to market volatility and economic conditions; risks related to unforeseen delays; risks that necessary financing will be unavailable when needed; and risk that disinterested shareholders and/or TSXV approval may not be obtained in a timely manner or at all. For further information on these and other risks and uncertainties that may affect the Company’s business, see the “Risks and Uncertainties” and “Forward-Looking Statements” sections of the Company’s annual and interim management’s discussion and analysis filings with the Canadian securities regulators, which are available under the Company’s profile at www.sedarplus.ca. Except as required by law, Organto does not assume any obligation to release publicly any revisions to forward-looking statements contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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 news release.

SOURCE: Organto Foods, Inc.

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Providence Life Receives Isle of Man Branch License

LONDON, UK / ACCESS Newswire / June 20, 2025 / Alpha Growth plc, (www.algwplc.com) a leading global financial services specialist in the multi-billion dollar market of longevity assets and insurance linked asset and wealth management is pleased to announce that one of its group companies, Providence Life Assurance Company (Bermuda) Limited (“Providence Life Assurance”), a leading provider of bespoke life insurance solutions for ultra-high net worth (“UHNW”) individuals and family offices, has been granted a branch license in the Isle of Man. The new branch, operating under the name Alpha PPLI www.alphappli.com, will cater to the sophisticated wealth planning needs of clients across the UK, Europe, Middle East and Asia.

The Isle of Man Financial Services Authority issued the permit to Providence Life Assurance on May 23, 2025, under section 22 of the Insurance Act 2008, authorizing the company to conduct both Class 1 and Class 2 insurance business with immediate effect.

Alpha PPLI builds upon Providence Life Assurance’s established expertise in Private Placement Life Insurance (“PPLI”) and Private Placement Variable Annuities (“PPVA”), offering tailored solutions designed to address the complex financial and succession planning requirements of UHNW individuals and family offices. The branch aims to provide a full suite of customized insurance structures, supported by a team with decades of collective industry experience and backed by the financial strength of parent company Alpha Growth plc.

Alpha PPLI is lead by its Chief Executive Julian Melling and Business Development Executive Richard Turnbull, both based in the Isle of Man with significant recognized experience in the high net worth life insurance industry.

“Our expansion into the Isle of Man through Alpha PPLI marks a significant milestone in Providence Life Assurance’s growth strategy. This new branch enhances our ability to deliver world-class, flexible insurance solutions to discerning clients in key international markets,” said Gobind Sahney, Chairman & CEO of Alpha Growth plc and Providence Life Assurance.

“After many years in this industry, I am pleased to lead the strategic expansion of Providence Life Assurance’s international business. This marks a pivotal moment for UHNW life insurance, opening up an exciting future for Providence Life Assurance and the Alpha Growth group of companies, as we enhance our ability to serve the sophisticated needs of UHNW clients and family offices across key international markets.” said Julian Melling, jm@alphappli.com Chief Executive of Alpha PPLI.

Providence Life Assurance is renowned for its independent, client-focused approach, delivering best-in-class service and innovative insurance products. The launch of Alpha PPLI in the Isle of Man underscores the company’s commitment to supporting the wealth management objectives of UHNW clients and family offices in the UK, Europe, and Asia.

About Providence Life Assurance Company (Bermuda) Limited: Providence Life Assurance specializes in providing customized life insurance products, including PPLI and PPVA, to ultra-high net worth individuals and institutions. The company operates under the regulatory oversight of the Bermuda Monetary Authority and is part of Alpha Growth plc, a global leader in insurance-linked wealth management.

Alpha PPLI – Julian Melling jm@alphappli.com Richard Turnbull rt@alphappli.com UK Investor Relations – Mark Treharne

ir@algwplc.com

About Alpha Growth plc

Specialist in Life Insurance, Esoteric and Longevity Assets

Alpha Growth plc is a financial advisory business providing specialist consultancy, advisory, and supplementary services to institutional and qualified investors globally in the multi-billion dollar market of longevity assets and insurance linked asset and wealth management. Building on its well-established network, the Alpha Growth group has a unique position in the insurance and asset services and investment business with global reach.

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SOURCE: Alpha Growth PLC

View the original press release on ACCESS Newswire