Triller Inc. Secures $310 Million Equity Funding from Global Emerging Markets (GEM) in connection with Upcoming Public Listing

Company Expects to be Publicly Trading in Early Q4 Under Symbol “ILLR”

LOS ANGELES, Sept. 29, 2022 (GLOBE NEWSWIRE) — Triller Inc.(“Triller”) and GEM Global Yield LLC SCS (“GGY”) today announced a binding $310 million investment from GEM, the Luxembourg based private alternative investment group, in the form of a share subscription facility. Under the agreement, GEM will provide Triller with up to $310 million in equity capital for a 36-month term following a public listing of Triller’s common stock.

Triller will not be obligated to draw the full $310 million but can do so in part or in whole at its discretion. Triller will control both the timing and amount of all drawdowns and will issue stock to GEM on each drawn down from the facility. Triller will also issue warrants to GEM, further aligning the interests of the companies.

Triller filed its private S-1 with the U.S. Securities and Exchange Commission last month and is submitting what it anticipates being the final S-1 concurrently with the closing of this facility. The expectation is that trading will commence in early Q4 2022.

“Triller has been growing tremendously,” said Mahi de Silva, CEO and Chairman of Triller. “At our inception in 2019, we were a zero-revenue company; now we are on track to break $100 million in revenue this year. The Triller app has been downloaded more than 350 million times, and the company works with dozens of the world’s largest brands and thousands of top artists, disrupting the entire creator community.”

Triller has 10 business lines, eight of which are at break-even or profitable, and effectuates 750 million interactions per quarter, each of which is a potential monetizable transaction for the company in the future.

With the capital infusion from GEM, Triller will be able to make additional acquisitions to strengthen its toolbox for the creator community and reach breakeven or profitability in the short-term. Assuming it draws upon the full $310 million equity facility, Triller will have raised more than $600 million dollars and, upon its IPO, will be virtually debt free.

“Triller is breaking all the rules of the closed garden systems. It is challenging the way the old establishment takes advantage of creators and users by keeping 99 percent of the money within the system for itself,” said De Silva. “The reason the industry is so set on MAU, DAU and the like is that is how much time someone spends within one company’s particular closed garden and means that the social networks ‘own’ the user, revenue, brand and information.

“Triller breaks that system wide open. As an open garden, our goal is to put the power back in the hands of the creators and users, allowing creators and brands to connect directly. We provide tools to maximize those connections and how well each can be monetized. In addition, looking at the number of interactions we facilitate helps us to forecast future revenue since each one of those is a potential transaction fee for us.”

About Triller Inc.

Triller is the AI-powered open garden technology platform for creators. Pairing music culture with sports, fashion, entertainment, and influencers through a 360-degree view of content and technology, Triller encourages its influencers to post the content created on the app across different social media platforms and uses proprietary AI technology to push and track their content virally to affiliated and non-affiliated sites and networks, enabling them to reach millions of additional users. Triller additionally owns VERZUZ, the live-stream music platform; combat sports brands Triller Fight Club, Triad Combat and BKFC; Amplify.ai, a leading customer engagement platform; FITE.tv, a premier global PPV, AVOD, and SVOD streaming service; Thuzio, a leader in B2B premium influencer events and experiences; Fangage, a platform for creators to engage fans and monetize content and Julius, a platform for brands and agencies to harness creators for social engagement and social commerce.

About GEM
Global Emerging Markets (“GEM”) is a $3.4 billion, Luxembourg based private alternative investment group with offices in Paris, New York and The Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 530 transactions in over 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments. For more information: http://www.gemny.com

Tony Freinberg
President, Edendale Strategies
tony@edendalestrategies.com
(310) 614-1435

Vinamilk recognized as “The 6th Most Valuable Dairy Brand” globally in 2022 by Brand Finance

HO CHI MINH CITY, Vietnam, Sept. 29, 2022 /PRNewswire/ — Vinamilk, Vietnam’s leading dairy manufacturer has reached a new milestone by being ranked 6th position in the Top 10 Most Valuable Dairy Brands by Brand Finance.

Brand Finance offered Vinamilk’s brand value certificate to the company’s representative

The US$2.8 billion valuation this year sees an impressive 18% increase as compared to 2021, reaffirms Vinamilk’s leading position. Specifically, in the dairy segment, the brand was ranked the Most Potential Dairy Brand and continues to appear in the Top 5 Strongest Dairy Brands, coming in 2nd place – a remarkable result for Vinamilk as the only Southeast Asia representative in the Top 10 ranking for both brand value and strength. Vinamilk also leaves its footprint in major Food rankings such as Top 30 Most Valuable Food Brands and Top 10 Strongest Food Brands.

Vinamilk’s brand value growth (2019 – 2022)

Furthermore, according to the nationwide report, Brand Finance also recognized Vinamilk as the Most Valuable Food Brand in Vietnam.

“The significant role of the brand is well aware by Vinamilk throughout the development of the company, especially in F&B and the dairy industry in particular. Throughout our 46-year journey, Vinamilk has continuously built the company’s brand value in accordance to our core pillars – product quality, service and our reputation amongst consumers”, said Mrs. Bui Thi Huong, Vinamilk Chief Director of Admin, HR & PR.

Vinamilk’s recent activities in Australia Fine Food trade fair

She also believes Vietnamese businesses will focus and put all their effort in achieving higher rankings on global rankings, affirming the position and value of Vietnamese national brands.

Every year, Brand Finance puts 5,000 of the world’s biggest brands in 29 industries throughout 39 countries under its test. With an integrated measurement method, considering various brand factors such as impact, health and reputation, investment and others combined with financial and survey data, the annual Food and Drink report published by Brand Finance provides brand health assessments in a transparent, fair and objective manner.

The changes when compared to Brand Finance’s 2021 report suggest that brands that invest in intrinsic strength, as well as focus on core values and long-term vision, are more likely to overcome uncertainty in turbulent times, and are developing further through innovation and continuity to meet growing consumer needs.

Vinamilk’s investments have also been positively recognized by other local and international organizations. The Brand Footprint 2022 report published by Worldpanel, Kantar signified Vinamilk’s decade-long achievements in maintaining leading positions in the Top 10 Most Chosen Dairy Brands in Vietnam.

In addition, Vinamilk was also honored for the 10th consecutive time in Forbes Vietnam’s 50 Best Listed Companies and has been recognized as one of “Vietnam Value” brands by VIETRADE since 2010.

Present in 57 countries and territories with a total accumulated export turnover of US$2.75 billion, Vinamilk continues to research and develop new products to increase its penetration to key export markets.

Since the beginning of 2022, the company has actively participated in a number of international trade activities and food fairs in China, Dubai, Japan, South Korea, and Australia to introduce Vinamilk’s range of products, as well as seeking opportunities for its international expansion.

About Vinamilk

Founded in 1976, Vinamilk is the leading dairy company in Vietnam which is listed among the Top 40 largest nutrition companies in the world by revenue and Top 10 of the world’s most valuable dairy brands. Vinamilk currently manages 17 factories, 15 dairy farms in Vietnam and overseas.

Photo – https://mma.prnewswire.com/media/1910811/1.jpg
Photo – https://mma.prnewswire.com/media/1910812/Vinamilk_Brand_Value_Graph__1.jpg
Photo – https://mma.prnewswire.com/media/1910813/KDQT__c_1.jpg

Thousands of Congolese Refugees Return Home From Exile

The U.N. refugee agency says nearly 6,000 Congolese refugees have been helped to return home since December 2021, after years of exile in Zambia.

The voluntary repatriation of Congolese refugees was based on a tripartite agreement signed in 2006 by the UNHCR and the governments of Zambia and the Democratic Republic of Congo.

The refugees had fled political and inter-ethnic clashes in the DRC’s southeast region in 2017. They have gone back to their communities of origin in Haut-Katanga. Many parts of the DRC are riven with conflict and remain highly insecure.

However, UNHCR spokesman Boris Cheshirkov said Haut-Katanga is stable, making the returns possible. He said some 600 people are transported from Zambia on buses in weekly convoys to the DRC’s Lukinda border post. He said more than 11,000 Congolese refugees are expected to have gone back to the DRC by the end of the year.

“Refugees have been issued with voluntary repatriation documents and have received expedited immigration clearance, health screening, security, food, and water prior to their journey,” he said. Children account for 60% of those refugees that are now returning.”

Cheshirkov said children born in Zambia have been issued birth certificates as proof of their identity. He said the Ministry of Education has issued transfer documents to schoolchildren so they can continue their education in the DRC.

He noted the refugees have expressed excitement and joy at returning home, and that they look forward to reuniting with family and friends and starting their lives anew. He said the UNHCR is providing returnees with cash assistance to help them cover basic expenses upon arrival.

“It also helps them with transportation costs to meet their ultimate destination,” Cheshirkov said. “They are able to purchase hygiene items, household items and then to pay their own first rent, which gives them a step in the right direction. Then, based on family size, they also are provided with a package that includes pulses (soybeans) and maize meal, oil, and salt, and other basics that will help them to move in.”

Cheshirkov said the UNHCR continues to work with local and traditional authorities.

He said the agency also conducts monitoring missions to the locations to make sure the returns are sustainable.

Zambia currently hosts more than 95,600 refugees, asylum seekers and former refugees. They include just over 60,000 from the DRC.

Source: Voice of America

Former minister Zwane appears in court for alleged fraud and corruption in failed R280 million Estina Dairy Farm Project

BLOEMFONTEIN (South Africa), Sept 29 (NNN-SANEWS) — Former Minister of Mineral Resources, Mosebenzi Zwane, has appeared in the Bloemfontein Magistrate’s Court on charges of alleged fraud and corruption related to the failed R280 million Estina Dairy Farm Project.

Zwane, who is currently a Member of Parliament, appeared in the court alongside former Sahara employee Ugeshni Govender and former director of Islandsite Ronica Ragavan.

The former minister was the MEC for Agriculture and Rural Development in the Free State at the time the project was signed off in 2012.

National Prosecuting Authority Investigating Directorate (NPA ID) head Advocate Andrea Johnson said the arrests and the appearance in court is another step in the unit’s crackdown of those accused of facilitating and participating in State capture.

“The enrolment of this case demonstrates the commitment of the ID to deal with perpetrators of State capture. This case should serve to remind the people of the Free State that this matter was not forgotten.  It does however take long to investigate and put together appropriate charges for prosecuting such complex cases.

“The Vrede Dairy Project destroyed the lives of the people and communities it was supposed to empower and uplift. The enrolment of the matter is a step closer to delivering justice to the people who were alleged to have been prejudiced by the criminal conduct of the accused,” Johnson said.

NPA ID spokesperson Sindisiwe Seboka explained that the project was aimed at benefitting emerging farmers in the Free State but investigations revealed that the entire project “was designed to extract funds from the State”.

“On 05 July 2012, Estina…entered into an agreement with the Free State Department of Agriculture to establish and implement a dairy farm project in Vrede to benefit previously disadvantaged farmers and to uplift the people of the Vrede area.  In terms of the agreement, Estina was to provide a capital injection of R228 million. Paras Dairy – a company incorporated in India – was presented as Estina’s partner in the Vrede Dairy Project.

“In the charge sheet, the Investigating Directorate  alleges that [in] terms of the agreement between the Department of Agriculture and Estina, the beneficiaries were to own 51% of the AGRIBEE entity and the remaining shares were to belong to Estina.

“The agreement further stipulated that the department was to contribute R342 million…[and] Estina received R280 million from July 2012 to April 2014.  Investigations also revealed that no proper tender procedures were followed with regards the decision to fund the proposed Vrede Dairy Project. Estina did not adhere to its obligations in terms of the agreement as only the department paid its contribution into bank accounts held by Estina,” Seboka said.

All three accused were released on R10,000 bail.

Source: NAM NEWS NETWORK

Guinea Trial for 2009 Massacre Begins on Anniversary

Oumy Diallo recalls the day she wanted to die. She was attending a pro-democracy protest in 2009 at a stadium in Conakry, Guinea, when a group of government security officials opened fire.

As she attempted to escape, shrapnel pierced her back and forced her to the ground. She felt a pair of hands grab her ankles, she said, then several men took turns raping her.

“Could I even count? Could I even count?” she said, trying to recall how many men raped her. “I just wanted to die.”

Diallo, whose name has been changed to protect her privacy, was among at least 100 women who were raped that day, according to a report by a United Nations-mandated international commission. At least 150 were killed.

Witnesses described horrific scenes: women being pulled from hiding places to be raped by multiple men, some people being knifed to death while others were shot, corpses piled on top of each other and draped over walls.

Following the attack, security forces sealed off the entrances to the stadium and morgues in an effort to cover up the crimes. Bodies were removed and buried in mass graves.

On Wednesday, exactly 13 years after the massacre, a trial accusing 11 former security and government officials of participating in the attack finally opened.

The 2009 protest, which drew tens of thousands of demonstrators, was organized in response to a presidential bid by Guinea’s then-military ruler, Moussa Dadis Camara.

Camara, who came to power in a 2008 coup, has since lived in exile in Burkina Faso, but returned to Guinea to stand trial. He has denied responsibility for the attack, placing the blame on errant soldiers.

One year before the incident, Diallo said she had easily gotten pregnant with her first child, a daughter. But she has since been unable to conceive. Now, at 34 years old, Diallo suspects it’s due to internal injuries sustained from the rape.

“Back then, I didn’t have the strength to explain what had happened to a doctor, so I self-medicated,” she said as she listed off the painkillers and antibiotics she took. “It wasn’t until later that I realized I should have gone to the hospital. But by then it was too late.”

Despite repeated commitments from Guinean authorities to seek justice for the victims, the trial has suffered from numerous delays and obstacles. In 2009, government inaction prompted an examination by the International Criminal Court (ICC), which has since pressured officials to make good on their promise.

Human rights abuses mounted under former Guinean president Alpha Conde, who was overthrown in a coup in September 2021. Guinea’s junta leader, Mamady Doumbouya, has expressed support for victims of the massacre and pushed for the trial to open before the 2022 anniversary.

But a ban on public protests persists, and in August the government dissolved the opposition coalition when it called for credible talks with Guinea’s transitional military rulers.

Guinea also continues to be plagued by high levels of sexual violence against women, according to a report released on the eve of the trial by Amnesty International. More than 400 cases of rape were recorded by Guinean police in 2021, and most of the victims were minors. But true figures are “undoubtably” higher, the report said.

Though Guinea recently established a specialized police unit to respond to sexual violence, cases are often settled out of court and perpetrators are rarely punished, according to the report. Furthermore, it said, officials are not adequately trained on how to respond to accusations of sexual assault.

“When you want to file a complaint, some policemen will not really take you seriously or the victim will not be able to talk freely and in a confidential way,” said Fabien Offner, a researcher for Amnesty International.

The cost of healthcare and the stigma associated with rape create additional barriers, he added.

The first day of the trial was broadcast live on national television and radio. A judge called each of the 11 men to the bar and read out their charges: murder, attempted murder, torture and rape.

“That a military that had been brought to a stadium killed Guineans, raped Guineans, hurt Guineans – that that same government has recognized the actions committed by the state in front of the national and international community – that already is a good thing,” said Mamadou Barry, secretary of the Association of Victims, Relatives and Friends of September 28, 2009.

While the simple recognition of the atrocities brings solace to many, others are demanding more.

“Of course, the organization of a trial is a first step,” said Amnesty’s Offner. “But it’s not justice.”

The trial will resume October 4.

Source: Voice of America

Report: Million Livelihoods in DRC Threatened by Planned Oil and Gas Exploration

The environmental group Greenpeace Africa has released a report saying planned oil and gas exploration in the eastern Democratic Republic of Congo could expose more than 1 million people to pollution and disease.

The planned selling of 30 eastern land blocks that extend into a famous gorilla reserve would also threaten wildlife and food security, while fueling conflict, poverty and corruption, according to the report.

Residents in the area accuse the government of keeping them in the dark and expressed fear of losing their livelihoods when companies start drilling for fossil fuels.

Representatives for Greenpeace Africa and partner organizations visited about 30 villages in July to gauge the community’s awareness of the planned exploration and how they intend to protect their land and livelihoods.

Mbong Akiy Fokwa Tsafack, head of communication at Greenpeace Africa, said many communities are not aware of the government’s plan to auction their land.

“The thought of the government thinking of auctioning their lands for oil was really a shock for them. They were unaware, so they didn’t know this was underway, which is quite shocking given how much the government has said it plans to really put people ahead of everything else,” Tsafack said.

No one asked residents what they thought of the oil and gas drilling project, said Bantu Lukambo, who works with Innovation for the Development and Protection of the Environment, an NGO monitoring the welfare of communities around Virunga National Park.

The government is supposed to have public input before undertaking such exploration, he said, but failed to do so. Even parliament members were not included in the decision-making process, he added.

DRC President Felix Tshisekedi defended his government’s plan while speaking at the United Nations General Assembly last week, saying oil discovery would bring economic development to his people.

Hydrocarbons Minister Didier Budimbu Ntubuanga, speaking at the Africa Oil Week conference in Senegal early this month, said the DRC has received two offers for the oil blocks and said any exploration will follow environmental guidelines.

Lukambo is doubtful that will be the case.

He fears all the fish will die if the exploration begins, and fishermen and their families will be in trouble. In addition, he added, 14 of the oil blocks are in Virunga National Park, and the others are in farming areas. If exploration starts on the land, he said, farmers won’t farm their land.

The oil exploration blocks overlap parts of Congo’s most pristine ecosystems and Virunga Park, which is home to over 1,000 species of animals and birds.

Tsafack said Congo’s leaders need to reconsider their decision to allow oil exploration in the park and nearby areas.

“This is a moment when we need to see leadership coming through, in terms of the zeal to uproot corruption, to strengthen good governance and to put the people of the DRC at [the] heart of any kind of development agenda,” Tsafack said. “And putting the people of DRC at the heart of any development agenda means really looking into the communities and finding out what it is that will uplift their lives.”

The 20-page report from Greenpeace urges the government to halt the projects and encourage alternative investments in renewable energy sources.

Source: Voice of America