CHEMICAL MANAGEMENT

Freedom Holdings Signs Binding Letter of Intent to Acquire Blockchain-Based Asset Management Company

Freedom Holdings, Inc | December 30, 2021

Freedom Holdings, Inc. announced that it has signed a binding letter of intent to acquire Carbon Zero Asset Management, Inc. a blockchain-based Asset Management Company. The acquisition shifts the Company’s business focus into building a Ethereum-based Blockchain platform, in a rapidly growing digital economy.

Under the terms of the agreement, FHLD will acquire 100% of the issued and outstanding shares of COzero in common stock for common stock exchange with COzero becoming a wholly owned subsidiary of FHLD.

 "We are pleased to achieve this significant milestone for the Company and our shareholders. I'm further excited to join forces with COzero Asset Management, Inc. 's management team, which has a proven history in building successful businesses in the Blockchain Technology. The new direction for the Company will create a digital economy powerhouse driven by proven technology, in the growing global environmentally friendly industry."

Brian K. Kistler, CEO of FHLD

The COzero is a brand-new and one-of-a-kind Ethereum-based token that allows any citizen throughout the world to join the battle against climate change. Blockchain technology will allow fractional ownership of carbon credits, making them available to the smallest polluter. This will allow companies and individuals that ability to offset their carbon footprint by paying business and landowners that capture or reduce CO2.

According to the OECD, fixing climate change will require more than US$100 trillion between now and 2030. The Paris Agreement has opened up $23 trillion in climate-smart investment opportunities.

ABOUT CARBON ZERO ASSET MANAGEMENT, INC
Stamford Connecticut-based Carbon Zero Asset Management, Inc. intends to complete strategic M&A transactions to complement and enhance organic growth and has several potential M&A candidates in its pipeline. Through the roll-up of companies engaged in various aspects of Asset Based Block-Chain Tokens, COzero Asset Management, Inc. intends to develop a suite of asset-based products. 

ABOUT FREEDOM HOLDINGS, INC.
Freedom Holdings, Inc. is a holding company focusing on identifying developing opportunities. The Company's objective is to acquire undervalued assets and initiate operations in underserved niches. Once established within the FHLD portfolio, the Holding Company will provide the support necessary to maximize its subsidiaries' business opportunities.

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CHEMICAL MANAGEMENT

Callon Petroleum Company Announces Launch of $600 Million Senior Unsecured Notes Offering

Callon Petroleum Company | June 13, 2022

Callon Petroleum Company announced that, subject to market and other conditions, it intends to offer $600 million aggregate principal amount of senior unsecured notes due 2030 in a private offering that is exempt from registration under the Securities Act of 1933, as amended. The net proceeds from the offering, together with borrowings under the senior secured revolving credit facility, are expected to be used to redeem all $460.2 million of the Company's existing 6.125% Senior Notes due 2024 and all $319.7 million of the Company's existing 9.00% Second Lien Senior Secured Notes due 2025. The redemption price of the 2024 Notes is equal to 101.531% of the aggregate principal amount outstanding, plus accrued and unpaid interest to the applicable redemption date. The redemption price of the Second Lien Notes is equal to 100.000% of the aggregate principal amount outstanding, plus an applicable make-whole premium plus accrued and unpaid interest to the applicable redemption date. This announcement is not an offer to purchase or a solicitation of an offer to sell the 2024 Notes or the Second Lien Notes, and it does not constitute a notice of redemption of the 2024 Notes or the Second Lien Notes. The notes and the related guarantees to be offered have not been registered under the Securities Act or any state securities laws and unless so registered, the notes and the related guarantees may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The notes and the related guarantees are being offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and outside the United States pursuant to Regulation S under the Securities Act. This press release is being issued pursuant to Rule 135(c) under the Securities Act, and is neither an offer to sell nor a solicitation of an offer to buy the notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the notes and the related guarantees or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful. About Callon Petroleum Company Callon Petroleum Company is an independent oil and natural gas company focused on the acquisition, exploration and development of high-quality assets in the leading oil plays of South and West Texas.

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CHEMICAL TECHNOLOGY

Twelve to Deploy World’s First Industrial-Scale Carbon Transformation Platform

Twelve | July 04, 2022

Twelve, the carbon transformation company, is announcing $130 million in Series B and additional funding to scale the engineering, manufacturing, and deployment of its industrial-scale carbon transformation technology for the creation of a wide range of products with a lower carbon footprint. Twelve’s carbon transformation technology converts captured CO2 into products historically made from fossil fuels. According to research from Columbia’s SIPA Center on Global Energy Policy, replacing fossil feedstocks in the production of chemicals, materials, and fuels with renewable carbon from point source or direct air capture could avoid nearly 10 percent of global greenhouse gas emissions. Twelve is currently transforming emissions into products for the automotive, household and apparel industries, as well as for government entities and global technology companies, by replacing petrochemicals and fossil-based transportation fuels with CO2Made® materials and carbon-neutral fuels like E-JetⓇ. “Companies and governments no longer need to rely on fossil fuels for the carbon that goes into everything from apparel and cleaning products to electronics and jet fuel. This fresh funding ensures we can reach industrial scale to help new and existing partners achieve rapid emissions-reduction.” Twelve Co-Founder and CEO Nicholas Flanders Twelve’s partners include Mercedes-Benz, Procter & Gamble, Shopify, the U.S. National Aeronautics and Space Administrationand the U.S. Air Force, all of which use Twelve’s breakthrough carbon transformation technology to reduce emissions and create CO2Made products. “As more companies and organizations adopt carbon-neutrality targets, they urgently need technologies like Twelve’s to rapidly green supply chains and corporate travel to reduce emissions at scale,” said Zachary Bogue, Managing Partner, DCVC. “Since leading Twelve’s seed round in 2018, we’ve only become more confident that their technology offers businesses a critical solution for not just offsetting emissions, but eliminating them.” The new funding follows Twelve’s first commercial products, a line of CO2Made sunglasses with sustainable fashion brand PANGAIA, and carbon-neutral sustainable aviation fuel (SAF), E-Jet. Twelve was recently recognized by Fast Company as the world’s #1 most innovative energy company of 2022 and as a BloombergNEF Pioneer in the Decarbonizing Aviation category. “Delivering low-carbon sustainable products consumers desire will require scaling innovative solutions such as Twelve’s carbon transformation technology.” said Todd Cline, Senior Director of Sustainability, for Procter & Gamble Fabric Care. “We’re glad to see Twelve given the opportunity to expand their opportunity to impact a broad variety of sustainable consumer products enabled by their technology.” “Twelve has the potential to disrupt petrochemical supply chains by creating a wide range of materials from carbon emissions instead of fossil fuels,” said Udo Gayer, Manager of New Business in Production Planning at Mercedes-Benz Cars. “The potential impact of their technology is immense, and I’m glad to see them receive the funding to continue scaling their technology.” DCVC led Twelve’s Series B financing, with participation from Series A lead investors Capricorn Technology Impact Fund and Carbon Direct Capital Management. Breakout Ventures, Munich Re Ventures, Elementum Ventures, and Microsoft Climate Innovation Fund also participated. In addition, Twelve secured a Series B and strategic program investment from the Chan Zuckerberg Initiative (CZI). “Carbon transformation has the potential to turn CO2 from a harmful waste stream into useful products for the global economy,” said Jonathan Goldberg, CEO of Carbon Direct. "With the costs of carbon capture, renewables and electrolyzers continuing to fall, Twelve’s technology stands to play a crucial role in decarbonizing some of the hardest-to-abate industries.” To help drive Twelve’s industrial scaleup, the company just announced additions of key industry veterans to its leadership team: Anne Roby, Independent Board Director and former Linde executive; David Frank, Chief Productization Officer and former Cummins director; and Ram Ramprasad, Chief Commercial Officer and former Linde executive. About Twelve Twelve is the carbon transformation company, a new kind of chemical company built for the climate era. We make essential products from air, not oil. Our groundbreaking technology eliminates emissions by transforming CO2 into critical chemicals, materials and fuels that today are made from fossil fuels. We call it carbon transformation, and it fundamentally changes how we can address climate change, reduce emissions and reverse the carbon imbalance. Reinventing what it means to be a chemical company, we’re on a mission to create a climate positive world and a fossil free future through the power of chemistry.

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CHEMICAL MANAGEMENT,SCIENCE AND RESEARCH

MSA Safety Unveils New Line of Firefighter Protective Clothing at Interschutz

MSA Safety | June 21, 2022

MSA Safety Incorporated a global leader in firefighter safety equipment and technology, marked the opening of Interschutz 2022 with the unveiling of a new line of firefighter protective clothing (FPC) that is specifically designed to meet the needs of firefighters in Germany, the Netherlands and across continental Europe, offering enhanced comfort and compatibility with MSA's advanced safety equipment and solutions. Called the MSA® Bristol X4, the new line of FPC integrates MSA Bristol's expertise in creating high-performance protective clothing with MSA's market-leading experience in firefighting technologies and connected solutions. The result is a range of new FPC options that provide enhanced comfort, ergonomics and full compatibility with MSA's suite of state-of-the art firefighter equipment, from helmets and self-contained breathing apparatus (SCBA), to the very latest in monitoring accountability and communication devices. "The development of the MSA® Bristol X4 line represents a great new addition to the MSA portfolio of innovative safety solutions for firefighters. We're excited to be back at Interschutz because we will be able to demonstrate how the new X4 line of FPC integrates with other MSA products to provide additional capabilities for use in extreme environments." Bob Leenen, President of MSA's International Business Segment Working seamlessly with the company's iconic Gallet F1XF structural helmet and the industry-leading M1 SCBA, both of which are widely used among fire services across continental Europe, the MSA Bristol X4 has been created with input from hundreds of firefighters in Germany and the Netherlands to deliver a solution designed for these specific markets. As an example, the German fire service market requires an Integrated Harness System and Drag Rescue Device. To meet this need, the X4's Integrated Harness System offers added safety when working at heights. The X4 jacket features an integral belt, lanyard and carabiner that can be easily accessed via a pocket and flap. The Drag Rescue Device, accessed from the upper back of the jacket and via a pocket near the knee, can be used to carry or pull a downed firefighter to safety in an emergency. In the Netherlands, firefighters expressed the need for stronger kneepads for comfort when crawling or operating in confined spaces, and special reflective elements for additional visibility. To address this customer preference, MSA Bristol designers incorporated ergonomic shaping and a streamlined fit, reducing bulk and weight, all while maintaining full range of motion. Jason Traynor, General Manager of MSA's Global Fire Service Products, noted that with the launch of the new X4 line, MSA is now able to provide a full line of fire service products to firefighters Germany, the Netherlands and throughout continental Europe. "We will continue to listen to the needs of our customers and develop the innovative products and solutions they want – and need, he said." The X4 line is manufactured with the latest high quality fabric combinations from leading fiber and fabric manufacturers, including WL Gore, PBI Performance Products and Hainsworth. The line has been designed to meet the requirements of CEN standard EN469 Level 2, is available in a wide range of color combinations to suit regional preferences, and can be customized with a selection of optional pockets and loops to accommodate specific equipment. As a global leader in innovative firefighter safety equipment and technology, MSA Safety will also showcase its Connected Firefighter Platform – a suite of advanced safety technologies that work in concert to significantly improve firefighter monitoring, accountability and communication. Two key components of the Connected Firefighter Platform are the LUNAR® Connected Device and MSA's FireGrid® software services. A multifunctional handheld device, LUNAR provides personal thermal imaging and several other innovative features that are designed to enhance firefighter safety and accountability. These innovations include MSA's proprietary Firefighting Assisting Search Technology (F.A.S.T.) network, which alerts and guides teammates to downed team members. In addition, cloud connectivity provides incident command with an overview of on-scene operations by aggregating data from other MSA devices, such as the M1 breathing apparatus. In use, it can transmit key self-contained breathing apparatus (SCBA) information such as cylinder air pressure, battery status and various alarm indicators. FireGrid gives incident commanders the ability to evaluate and manage multiple situations in real time and from any location.

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CHEMICAL TECHNOLOGY

Balmoral Funds, LLC Completes Acquisition of Trecora Resources

Trecora Resources | June 28, 2022

Balmoral Funds, LLC announced that it has successfully completed its previously announced acquisition of Trecora Resources at a price of $9.81 per share, net to each seller, in cash, without interest and subject to any required tax withholdings. With the completion of the acquisition, Trecora's stock will cease trading on the New York Stock Exchange and Trecora will no longer be listed on any public market. Blank Rome LLP served as legal advisor to Balmoral, and Piper Sandler served as financial advisor to Balmoral. Guggenheim Securities, LLC served as exclusive financial advisor to Trecora, and Morgan, Lewis & Bockius LLP served as legal advisor to Trecora. About Balmoral Funds Balmoral is a Los Angeles, CA based private equity fund that was founded in 2005. Balmoral's objective is to be the financial partner of choice for entrepreneurial, emotionally intelligent and successful C-suite executives and operating advisors creating transformative, revitalizing change in the businesses they co-invest in together. Balmoral has approximately $1.5 billion of assets under management. Balmoral typically invests in companies that have revenues between $30 to $500 million and require equity investments of $10 to $100 million, with the capability of investing an additional $100 million or more in particularly compelling opportunities. About Trecora Resources Trecora owns and operates a specialty petrochemicals facility specializing in high purity hydrocarbons and other petrochemical manufacturing and a specialty wax facility, both located in Texas, and provides custom processing services at both facilities.

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