DigiAsia Corp. Announces Completion of Convertible Note Financing with Helena Partners and Extinguishes Outstanding Debt

~ Prompt Extinguishment of Debt Following Recent Listing as a Public Company Prioritizes Financial Responsibility with a Healthy Capital Structure ~

NEW YORK, July 02, 2024 (GLOBE NEWSWIRE) — DigiAsia Corp. (NASDAQ: FAAS) (“DigiAsia” or the “Company”), a leading Fintech as a Service (“FaaS”) ecosystem provider, today announced it has received net proceeds of $3.0 million as a result of the previously announced Securities Purchase Agreement (“SPA”) with Helena Special Opportunities LLC, an affiliate of Helena Partners Inc. (“Helena”). In addition, through the issuance of Senior Unsecured Convertible Notes (the “Notes”), convertible into Class A common shares of the Company, and $5.2 million of Class B Convertible Notes, DigiAsia has extinguished all debt inherited from its business combination with StoneBridge Acquisition Corporation. The remainder of proceeds will be utilized for general corporate purposes as growth capital investment.

As announced on June 21, 2024, the Notes bear interest at a rate of 12% per annum, payable quarterly, and mature one year from the issuance of the note. Helena, pursuant to its note, has the option, on or prior to the maturity date, to convert the entire principal amount and all accrued but unpaid interest on the notes into shares of DigiAsia common stock.

EF Hutton LLC acted as the exclusive placement agent for the offering. Winston & Strawn LLP acted as legal advisor to DigiAsia.

Forward-Looking Statements:

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe”, “expect”, “anticipate”, “project”, “targets”, “optimistic”, “confident that”, “continue to”, “predict”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking statements. These forward-looking statements including, but not limited to, statements concerning DigiAsia and the Company’s operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. DigiAsia cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors such as government and stock exchange regulations, competition, political, economic and social conditions around the world including those discussed in DigiAsia’s Form 20-F under the headings “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business Overview” and other reports filed with the Securities and Exchange Commission from time to time. All forward-looking statements are applicable only as of the date it is made and DigiAsia specifically disclaims any obligation to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.

DigiAsia Company Contact:

Subir Lohani

Chief Financial Officer and Chief Strategy Officer


Investor Contact:

MZ North America

Email: FAAS@mzgroup.us

GlobeNewswire Distribution ID 9172144

Call for Nominations: 2024 Global Citizen Award

LONDON, July 02, 2024 (GLOBE NEWSWIRE) — Leading international residence and citizenship advisory firm Henley & Partners, in partnership with Andan Foundation, a Swiss non-profit humanitarian organization, is pleased to announce the call for nominations for the 2024 Global Citizen Award.

Created ten years ago in 2014, the Global Citizen Award is a tribute that honors remarkable individuals working to advance any one of the global challenges affecting humanity today – challenges that transcend national boundaries and cannot be resolved by any one country acting alone. This year’s honor is particularly significant as it marks the 10th anniversary of the Global Citizen Award, celebrating a decade of recognizing and supporting global champions who make a profound impact on our world.

The 2024 laureate will be selected by a distinguished, independent committee and honored at the Global Citizen Award ceremony, the concluding gala evening event of the annual Henley & Partners Global Citizenship Conference which is taking place this year at Capella Singapore from 27–29 November 2024.

Henley & Partners Chairman and Founder of the Andan Foundation, Dr. Christian H. Kaelin, says the awardee’s work needs to demonstrate a positive impact on the lives of vulnerable social groups, particularly with a connection to migration-related issues. “The Global Citizen Award is open worldwide to those working in a field with a direct link to the issues they are looking to affect and excludes political figures, opinion leaders, and celebrities. The committee is looking for remarkable and inspirational individuals who demonstrate vision, courage, and innovation in driving global change, and whose actions and outlook contribute to a more just, peaceful, connected, and tolerant world.”

The selection process is confidential and is based on a majority decision of the Award Committee. The award itself consists of a bespoke sculptural medal designed by leading Italian artist Antonio Nocera, an award certificate signed by the Chairman of the Global Citizen Award Committee, and a monetary prize of USD 20,000, which goes towards supporting the awardee’s humanitarian efforts. In addition, Henley & Partners commits to working closely with the awardee for a period of one year, raising awareness of their work and supporting the selected project through the firm’s network of more than 55 offices worldwide.

Since its inception, the Global Citizen Award has honored many remarkable individuals. The first laureate was German entrepreneur Harald Höppner, who set up the refugee humanitarian aid project Sea-Watch. He was followed by Dr. Imtiaz Sooliman, Founder of the Gift of the Givers Foundation, Africa’s largest disaster relief organization, and Monique Morrow, Co-Founder of The Humanized Internet, a digital identity project that aims to bring hope to the estimated 1.1 billion individuals in the world who cannot prove their legal identity.

Diep Vuong, Co-Founder and President of the Pacific Links Foundation, was awarded for her work in Southeast Asia campaigning for the rights of those enslaved by human trafficking, while Prof. Dr. Padraig O’Malley received his Global Citizen Award in recognition of his work on conflict resolution and reconciliation in Northern Ireland, South Africa, and Iraq. Last year’s awardee Zannah Bukar Mustapha, the Founder of the Future Prowess Islamic Foundation, was recognized for the psychological, educational, spiritual and other developmental support provided to the children and widows affected by the insurgency in north-eastern Nigeria.

Commenting on the award’s 10-year history and significance, Dr. Kaelin says global citizenship ideals are a founding principle of Henley & Partners, and through its partnership with the Andan Foundation, the firm can provide support to those displaced by war, conflict and climate change. “All of our Global Citizen Award laureates have inspired us with their willingness to act in confronting a problem that many see as simply too vast to address. The issues that we face today transcend the family, the tribe, the village, and the nation. It’s more critical than ever that we do what we can to support those working to change the lives of vulnerable people around the world.”

Nominations close on Friday, 2 August 2024. For more information on how to submit your nomination, please contact Bushra Zaidan at  bushra.zaidan@andan.org

Sarah Nicklin
Group Head of PR
Mobile: +27 72 464 8965

GlobeNewswire Distribution ID 1000969321

Cultural exhibition on the Mausoleum of Huangdi held in Hong Kong to highlight shared Chinese roots

Hong Kong, July 2, 2024 /Xinhua-AsiaNet/ — A launching ceremony marking the 27th anniversary of Hong Kong’s return to the motherland was held in Victoria Park of Hong Kong on June 29, kicking off a series of celebration activities organized by the Hong Kong Celebrations Association.

The exhibition on the culture of the Mausoleum of Huangdi attracted a large number of Hong Kong citizens, which offers them a glimpse into the northwest China’s Shaanxi Province, where the mausoleum is located, and enables them to feel the charm of excellent traditional Chinese culture. The administrative committee of Huangdi Mausoleum cultural park and the government of Huangling County organized a cultural promotion event on June 30 at the Grand Center in Hong Kong.

Huangdi, also known as the Yellow Emperor, blazed the trail and laid the foundation of the splendid civilization of the Chinese nation. He is considered the progenitor of Chinese culture. According to “Records of the Grand Historian,” after Huangdi’s passing, he was buried in Qiaoshan Mountain. The Mausoleum of Huangdi is located at the peak of Qiaoshan Mountain in Huangling County, Shaanxi Province.

The Mausoleum of Huangdi is a spiritual symbol of Chinese civilization, revered by Chinese both at home and abroad. It serves as a sacred place for the Chinese diaspora worldwide to reconnect with their roots and honor their ancestors.

The cultural exhibition covers an area of over 200 square meters. The exhibition focuses on the theme of Huangdi and the culture surrounding his mausoleum. It includes various sections such as thematic displays with pictures and texts, exhibitions of inscriptions and stone carvings, and showcases of black pottery artworks.

The exhibition aims to introduce the remarkable achievements of Huangdi, showcase the historical rituals and ceremonies dedicated to him throughout different periods, and tell the story of the inheritance of Chinese civilization. Furthermore, it seeks to promote cultural tourism related to the Mausoleum of Huangdi.

In the exhibition, many precious cultural elements of the Mausoleum of Huangdi, such as the replicas of the Xuanyuan Hall, the statue of Huangdi, the cypress tree planted by Huangdi himself, and the inscriptions in the mausoleum, appear in Victoria Park. With the main focus on inheriting the Huangdi culture and keeping the Chinese roots culture alive, this immersive exhibition offers visitors an opportunity to experience Chinese culture and trace their cultural heritage.

The exhibition hall also features a variety of interactive experiences, allowing visitors to participate in activities such as seeking blessing, tracing the origins of family names, hanging wishing plaques on the cypress tree planted by Huangdi, ink rubbings, and collecting stamps.

Calligraphy artists and intangible cultural heritage inheritors from Huangling County are invited to write calligraphy on site and create traditional Huangling paper-cutting and dough flower artworks, allowing Hong Kong citizens to personally experience the profound traditional culture and foster a sense of cultural kinship.

In a bid to showcase China in various perspectives, this year’s celebration campaign has featured the participation of various provinces and cities in China, as well as relevant organizations and enterprises, which will present a panoramic display of the beautiful vision of China’s modernization and to celebrate the joy of the return to the motherland. The exhibition will run for four days until July 2.

Through exhibitions, interactive experiences of intangible cultural heritage, and cultural promotions, the event showcased the profound cultural heritage of Huangdi and the splendid image of Shaanxi, aiming to enhance cultural exchanges and tourism partnership between Hong Kong and Shaanxi, and further expand the scope of cooperation and communication between the two places.

Source: The Administrative Committee of Huangdi Mausoleum Cultural Park

Beijing E-Town Builds Itself into AI Town

BEIJING, July 2, 2024 /Xinhua-AsiaNet/– On June 29, the AI Town Innovation Conference of Beijing E-Town was held at the National Industrial Park for Information Technology Application and Innovation, releasing Beijing E-Town’s development plan of building itself into an AI-based town.

At the conference, which was held by Beijing Economic-Technological Development Area Management Committee, E-Town’s top ten AI applied scenarios and results were released in series, the Yizhi government affair large-model service platform was launched, and Beijing AI Application Scenario Institute (BAIASI) and Beijing AI Native Industry Acceleration Platform (BAINIAP) were unveiled.

Beijing E-Town has focused on building itself into an AI town, advancing the deep integration of AI technology with the development of E-Town New Town as well as industrial upgrading and transformation. It has made efforts to introduce technological innovation through scenario applications, establish city-level AI engineering test platforms, and better balance development with safety. It has explored the path mechanism of AI empowering production and lifestyle, pioneered the trial in special industries, high-risk positions, and repetitive labor segments, and boosted the incubation, application and empowerment of AI technology across the district.

Serving as a pioneer in the capital’s high-quality development, a ballast of the capital’s real economy and a leading site for high-end, sophisticated and cutting-edge technology sectors, Beijing E-Town has nearly 100,000 business entities and attracted 157 projects invested by 102 global 500 enterprises, covering a wide variety of industrial scenarios like biomedicine, automobile manufacturing, commercial space and intelligent manufacturing. By amassing a wide range of high-quality data in vertical fields, the area has enjoyed exceptional AI application advantages, functioning as the best test ground for large AI models and industry vertical models.

E-Town has selected the first batch of AI benchmarking application scenarios, involving ten fields such as medical and health care, transport & travel, car cockpit, humanoid robots, new retail, governmental services, industrial design, drug R&D, energy conservation and carbon reduction, and news & media. In particular, AI plus medical and health care scenarios are applied to support developing AI training centers for medical and health care. E-Town has partnered with authoritative institutions to build high-quality health data zones to promote disease diagnosis & treatment application. Across the district, public health institutions have been accessible as smart medical pilot sites to support large-model enterprises in screening quality solutions around the smart triage, auxiliary diagnosis & treatment and digital doctors.

“We welcome innovation entities specializing in AI chips, large basic models, industry applications and data governance to participate in developing Beijing E-Town’s AI demonstration application scenarios.” The person in charge of Beijing Economic-Technological Development Area management committee issued a recruitment announcement and offered an olive branch to global enterprises in the release session, hoping that through the ten benchmarking application scenarios, a number of pioneering, replicable and promotional E-Town solutions would be offered to drive the development of the AI town.

The unveiling of BAIASI and BAINIAP has provided an underpinning for expediting the AI industry aggregation and the application of key industry scenarios. The development area would also offer all-round support to AI enterprises and talents, establish venture capital funds, industry funds and 10-billion-yuan special funds, and build a full-chain investment platform for businesses throughout the entire growth cycle.

Yizhi, the city’s first large-model service platform for government affairs, was officially launched. This new-generation data infrastructure of Beijing E-Town adopts the new architecture of one portal, three centers and three engines, featuring multi-model management, knowledge base operation, agent convergence, one-stop supervision, plug-in call, and localized adaptation. Yizhi has supported E-Town’s departments applying the large-model technology in digital transformation, which has been implemented in eight sub-scenarios.

Source: Beijing Economic-Technological Development Area Management Committee

Adrian Ridge Appointed CEO of Nikkiso Clean Energy & Industrial Gases Group

Adrian Ridge
Adrian Ridge CEO Nikkiso Clean Energy & Industrial Gases

Effective July 1, 2024, Adrian Ridge is CEO of Nikkiso Clean Energy & Industrial Gases

TEMECULA, Calif., July 01, 2024 (GLOBE NEWSWIRE) — Effective July 1, 2024, Adrian Ridge is Chief Executive Officer of Nikkiso Clean Energy & Industrial Gases Group, part of Nikkiso Co. Ltd.’s Industrial division. Ridge succeeds Peter Wagner, who remains engaged in a Board role as Executive Chairman for Nikkiso CE&IG Group.

As CEO, Ridge will drive operational and financial results and ready the Group for future growth. In his role as Executive Chairman, Wagner will focus on driving the vision and long-term strategy of the Group in an advisor capacity.

“On behalf of the Board, I welcome and congratulate Adrian on his promotion to CEO,” said Wagner. “He is a proven leader who is engaging at the right time to support Nikkiso Clean Energy & Industrial Gases’s growth to new heights.”

“I’ve never been as excited about a company’s potential as I am about Nikkiso,” said Ridge. “We have all the right ingredients to be a leader in every market we serve in every region around the world. I am honored and grateful for this once-in-a-lifetime opportunity.”

About Adrian Ridge

Ridge joined Nikkiso Clean Energy & Industrial Gases in 2022 as EVP of Manufacturing and Operations after working approximately 30 years at Swedish manufacturing giant Atlas Copco in various global leadership roles. He has a Mechanical Engineering degree and an MBA from Durham University in the United Kingdom.

Media contact
Lisa Adams
Mobile: +1 (405) 492-1689

About Nikkiso Clean Energy & Industrial Gases Group

The Nikkiso Clean Energy & Industrial Gases Group is a leading provider of cryogenic equipment, technologies and applications for clean energy and industrial gas market segments. The Group employs more than 1,600 people in 22 countries and is headed by Cryogenic Industries, Inc. in Southern California, U.S., which is a wholly owned subsidiary of Nikkiso Co., Ltd. (TSE: 6376).

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b3496ba9-85d1-4c91-b199-181d30747a25

GlobeNewswire Distribution ID 9171987

Sports academies will be established to promote different games: Mashhood

Chairman Prime Minister Youth Programme Rana Mashhood Ahmad Khan has said sports academies will be established to promote different games in the country. Addressing an event in connection with World Sports Journalists Day in Islamabad today, he said the youth are also being supported under the Talent Hunt Program. He was confident that the Pakistani athletes will earn laurels for the country in the SAF games to be hosted by Pakistan next year. Rana Mashhood said the government will also come up with a mega plan envisaging initiatives for the empowerment of youth. Addressing the event, Adviser on Inter Provincial Coordination Rana Sanaullah said that efforts are being made to bring improvement in sports federations with the aim to prepare the youth for international competitions. He said responsibility rests with the journalists to highlight the shortcomings of the sports federations and boards. Source: Radio Pakistan