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FOUNDING FAMILY ACQUIRES NAD 297M USD 16M LONG-TERM FOREIGN DEBT OF TRUSTCO

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Windhoek, Khomas, Namibia, 18th Mar 2025 – Trustco Group Holdings Limited (“Trustco” or “the Group”) today announced that Next Capital (Pty) Ltd (“Next Capital”), the founding family shareholder of Trustco, has acquired international debt to the amount of NAD 297 million (USD 16 million) of an investment subsidiary of Trustco.

This acquisition increases Trustco’s total debt to Next Capital to NAD 5 121 million (USD 280 million), reflecting a debt package that includes both interest-bearing and non-interest-bearing components, subordinated and first-ranked obligations, as well as secured, unsecured and equity debts. After this acquisition, the founding family holds 70% of long-term debt across the group.

Quinton Z van Rooyen, Deputy CEO of Trustco Group Holdings

This development comes as Trustco pursues its planned delisting from the Johannesburg Stock Exchange (JSE) and its anticipated listing on the NASDAQ, as previously announced as part of the Group’s strategy to access broader international capital markets. The acquisition by Next Capital allows Trustco to optimize its financial structure ahead of this transition.

“This debt acquisition by the founding family represents another vote of confidence – not only in Trustco’s future as we transition to the NASDAQ, but also in Namibia’s growing long-term economic prospects,” said Quinton Z van Rooyen, Deputy CEO of Trustco Group Holdings. “It’s about creating a foundation that aligns Trustco’s debtholders to its vision of opening new markets and new opportunities. The next chapter is set to position Trustco to be the gateway of choice for foreign private investment into Namibia.”

About Trustco:

Trustco Group Holdings Limited is a holding company headquartered in Windhoek, Namibia, that owns subsidiaries engaged in diverse business activities spanning the real estate, mining, insurance, micro-finance, and education sectors.

About Namibia:

Namibia is a Southern African country with a population of approximately three million and a GDP per capita of USD 4 168 in 2023. The country is endowed with rich natural resources, with recent major discoveries of oil and gas reserves, lithium deposits and rare earth minerals that are vital for technology demand globally, with developments also underway in its green hydrogen projects. The Namibian government has heralded these discoveries as a transformative period, holding the potential to double the nation’s GDP by 2040.

The country’s economy expanded by 4.2% in 2023 and is projected to expand by 3.5% in 2024 and 4.0% in 2025, following a recovery of 5.3% in 2022 from the COVID-19 pandemic. With its wealth of natural resources, pro-business environment, political stability and increasingly skilled workforce, Namibia offers attractive investment prospects across all sectors.

Forward-Looking Statements:

All statements made in this media release with respect to Trustco’s current plans, estimates, strategies beliefs and other statements that are not historical facts, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or the negative of these words or other similar terms or expressions. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. The Company may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements, and you should not place undue reliance on these forward-looking statements. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

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Electralith Appoints Vincent D. Mcbeth Vice President – North America

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Highly regarded executive, distinguished Naval Officer, and White House Fellow joins ElectraLith in its first executive appointment outside of Australia, signaling an increasing focus on the US and DLE-R’s ability to deliver critical mineral independence.

Melbourne, Victoria, 19th March 2025, ZEX PR WIREMelbourne-based ElectraLith Pty Ltd (“ElectraLith”) today announced the appointment of Vincent D. McBeth as Vice President – North America.  McBeth’s appointment follows the December announcement of ElectraLith’s oversubscribed Series A capital raise, comprising a world class investor syndicate.


As Vice President – North America, McBeth will oversee all aspects of ElectraLith’s activities in the region including commercial, operational, financial, media and investor matters.  McBeth will also lead ElectraLith’s engagements at the federal, state and local level throughout the US.  

McBeth’s appointment marks ElectraLith’s first executive hire outside of Australia and signals its increasing focus on the US market.  McBeth will be based in Washington, DC and Smackover, Arkansas.

McBeth joins ElectraLith from Sydney-based and In-Q-Tel-backed startup Q-CTRL where he led strategy and business development in the US and UK.  Prior to Q-CTRL, McBeth was Managing Partner of Gartner, where he led the company’s defense consulting practice.  McBeth was previously Founder and President of The McBeth Group International, an independent defense technology consultancy. 

A graduate of the United States Naval Academy, McBeth is also a distinguished and exceptionally well-regarded former Naval Officer.  In his 22 years of service, McBeth commanded two warships, was a White House Fellow, served as Aide to the Secretary of the Navy, and served as Special Assistant to the Chairman of the Joint Chiefs of Staff. 

ElectraLith CEO Charlie McGill said: “We are absolutely thrilled to welcome Vince to the ElectraLith Team.  Vince’s ability to forge meaningful commercial, operational and government relationships at all levels will be the kingpin to executing our North America strategy.  

McGill added: “We are particularly excited for Vince to unlock DLE-R’s proven ability to process otherwise unviable lithium reserves in the US, directly addressing the Trump Administration’s objective of critical mineral independence.

McBeth commented: “ElectraLith’s disruptive DLE-R technology will drive rapid transformation in the lithium industry.  DLE-R’s ability to extract and refine lithium into battery grade lithium hydroxide or carbonate with no water or chemicals is a game changer, especially in the water-constrained Paradox Basin and Smackover Formation. 

McBeth continued: “DLE-R’s ability to do this completely independent of China marks a turning point for US critical minerals independence.” 

McBeth is a graduate of the US Naval Academy and The Fletcher School of Law & Diplomacy at Tufts University.

About ElectraLith

ElectraLith is unlocking a green future with a clean, versatile and cost-efficient method of extracting and refining lithium, the fundamental element of a sustainable future. ElectraLith’s cutting-edge DLE-R technology revolutionises the Direct Lithium Extraction (“DLE”) and refining industry by extracting and producing battery-grade lithium hydroxide or carbonate in a single, scalable and modular step. As opposed to other DLE processes, DLE-R fully eliminates the need for water and chemicals and can run entirely on renewable energy.  ElectraLith is based in Melbourne, Australia.

https://www.electralith.com.

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Press Release

VisionX Pioneers AI Innovation with Cutting-Edge Development Services for Modern Enterprises

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VisionX, a global leader in AI-driven solutions, is enhancing industries through its innovative services including Computer Vision Development Services, Generative AI Development Services, and Mobile App Development Services. 

New York, NY, 19th March 2025, ZEX PR WIREVisionX is at the forefront of developing customized AI systems that reshape operational excellence to match both business needs and customer profiles. Expert software development working together with advanced AI capabilities allows VisionX to help enterprises implement automation and discover intelligent insights.

VisionX’s Computer Vision Development Services are revolutionizing how businesses interact with visual data. From object detection and tracking to pose estimation and visual search, VisionX utilizes advanced models like YOLOv8, Vision Transformers (ViTs), and OpenPose. These technologies enable the latest insights for inventory management, security, medical imaging, and much, much more. VisionX is also leading the charge in Generative AI Development.

Their services include custom model development, multi-modal AI solutions, and large language model integration. The company ensures scalable, high-performance AI text generation, image synthesis, or reinforcement learning, personalized to business needs. VisionX’s expertise involves Mobile App Development as it creates user-centric experiences powered by AI. As a top-tier React Native App Development Company, they build cross-platform apps with flawless functionality that ensures businesses stay connected with their users.

The company’s achievements are cemented through its industrial alliances with major organizations, including Staples, McDonald’s, Accenture, Ingram, and Emaar. Their holistic approach includes AI strategy and roadmap development (creating customized AI strategies through development processes that follow organizational objectives), infrastructure selection (providing assistance to businesses in determining the best AI infrastructure, including edge and cloud processing), custom model development (creating distinctive AI models by using pre-trained algorithms or developing them from scratch to maintain complete ownership of intellectual property for its clients), AI-Powered applications (developing intuitive front-end applications for mobile, desktop, AR, and VR platforms), and so much more.

“This process involves a team of AI experts who understand your operations and train unique AI systems for your business and customers. This is where VisionX comes in. AI has been our core since 2017. We provide AI resources, AI thought leadership and pre-trained AI assets and APIs to jump-start your AI journey,” said a Spokesperson at VisionX.

The customer base at VisionX covers commerce, retail, power, utilities, and quick-service restaurants (QSR). Their AI-driven solutions have transformed invoice automation, financial fraud detection, and professional services. Businesses starting their AI implementation can access adaptable partnership options from VisionX for integration and continued support. The company dedicates itself to maintaining strong data protection measures that enable businesses to implement artificial intelligence safely and protect their critical information.

About VisionX

VisionX stands as a worldwide market leader that develops AI and software through its services in Computer Vision, Generative AI, Mobile App Development, and React Native App Development solutions. VisionX enables businesses to attain transformative outcomes through its emphasis on AI innovation with collaborative methods that result in powerful achievements.

For more information, visit https://visionx.io/.

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Press Release

Empowering Digital Transformation: Odoo Customizations Revolutionizing Business Processes

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Washington, DC, US, 19th March 2025, ZEX PR WIRE, In today’s fast-paced digital landscape, businesses are constantly seeking innovative solutions to streamline operations and drive efficiency. Odoo customizations have emerged as a game-changer, enabling organizations to tailor their ERP systems to meet unique operational challenges. By leveraging cutting-edge technology and expert insights, companies can now achieve a seamless digital transformation that empowers both growth and agility.

Leading this revolution is SDLC CORP, a forward-thinking provider committed to delivering transformative ERP solutions. Their approach to Odoo customizations is designed to address specific business needs, ensuring that every process, from inventory management to customer engagement, is optimized for peak performance. The company’s expertise in crafting bespoke solutions has helped numerous enterprises overcome legacy system limitations and embrace modern, scalable frameworks.

Businesses interested in elevating their operational capabilities can explore comprehensive Odoo Customization Services that integrate seamlessly into existing infrastructures. With a clear focus on creating adaptable and resilient business processes, these services drive enhanced productivity and cost efficiency.

Moreover, the team’s innovative strategies have positioned them as a recognized Top Odoo Development Company, demonstrating a proven track record in delivering excellence across diverse industries. This strategic blend of technology and industry insight is setting a new standard for how enterprises harness digital transformation.

As organizations continue to evolve in an increasingly digital world, SDLC CORP remains at the forefront, championing a future where tailored ERP solutions pave the way for smarter, more efficient business practices.

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