GAC Launched Localization Initiative in Brazil, Debuts Five Core Models in the Brazilian Market.
The global strategic model AION V, the urban intelligent pure electric SUV AION Y, the luxe-tech pure electric SUV HYPTEC HT, the value benchmark hybrid SUV GS4 HEV, and the high-quality pure electric sedan AION ES were officially unveiled. Brazil's legendary musician Gilberto Gil became the first GAC vehicle owner in Brazil. At the event, GAC officially signed a comprehensive strategic cooperation agreement with Instituto Nacional de Metrologia, Qualidade e Tecnologia (Inmetro) to enhance Brazil's automotive industry competitiveness. Brazilian and Chinese government officials, business leaders and representatives gathered to witness this historic moment of China-Brazil automotive industry cooperation.
GAC introduced five models for Brazilian consumers: AION V, AION Y, HYPTEC HT, GS4 HEV, and AION ES at the Brazil Brand Launch and New Models Unveiling Event. Guided by "One GAC 2.0" global strategy, GAC has deployed its three major product lineups—GAC, AION, and HYPTEC—in Brazil, comprehensively addressing diverse mobility scenarios including family transportation, urban commuting, and shared mobility to meet Brazil's diverse consumer needs and green transition trends.
AION V, AION Y, and HYPTEC HT stand out with their stylish designs, premium quality, high-tech and long-range capabilities, will become an intelligent, safe, and reliable green mobility option for Brazilian consumers in the future. The GS4 HEV delivers robust power, smooth handling, and a combined range of over 1,000 km, striking a balance between performance and practicality. Meanwhile, the AION ES is GAC's flagship model tailored for shared mobility. Moving forward, GAC will collaborate with mobility platforms to offer Brazilians reliable and comfortable transportation experiences.
These five new models embody GAC's core strengths of "Top-tier Quality" and "Pioneering Technology", reflecting the company's precise insight into the Brazilian market's needs, and creating a better mobility experience for Brazilian consumers.
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Winnipeg Free Press
a day ago
- Winnipeg Free Press
Trump's tariff threat pushes Lula's popularity and worsens legal troubles for Brazil's ex-leader
SAO PAULO (AP) — U.S. President Donald Trump may have thought that pressuring Brazil with higher tariffs would help his ally, the country's former President Jair Bolsonaro, but the move apparently backfired. Last week, Trump sent a letter to Brazilian President Luiz Inácio Lula da Silva threatening a 50% import tax and directly linking the decision to Bolsonaro's trial, which he called a 'witch hunt.' 'This trial should end immediately!' Trump wrote Thursday evening in a second letter, this one addressed to Bolsonaro. He added that he had 'strongly voiced' his disapproval through his tariff policy. Rather than backing down, Brazil's Supreme Court escalated the case, worsening Bolsonaro's legal troubles. On Friday morning, federal police raided Bolsonaro's home and political office. The former president was ordered to wear an ankle monitor, banned from using social media, and hit with other restrictions. Meanwhile, President Lula — who was facing higher unpopularity, growing opposition in Congress and increasing risks to his likely reelection bid — seems to have gained politically from the situation. Now the 79-year-old leftist Lula, in office for the third non-consecutive term of his long political career, is seeing renewed acceptance, congressional support against Trump and pleas to run one last time to defend Brazil's sovereignty. Back in the game Lula has appeared more energized in public since Trump's announcement. At a national students assembly Thursday, he wore a blue cap reading 'Sovereign Brazil Unites Us' — a contrast to MAGA's red cap. 'A gringo will not give orders to this president,' he told the crowd, and called the tariff hike 'unacceptable blackmail.' The impact on Lula is not a first. Trump's actions targeting other countries have boosted ideological rivals in Canada and Australia instead of strengthening his allies at a local level. Private pollster Atlas said Tuesday that Lula's unpopularity had reversed course after his spat with Trump. Lula's job approval went from at 47.3% in June to 49.7% since the tariffs battle began. The poll of more than 2,800 people was conducted July 11-13, with a margin of error of 2 percentage points. The study also said 62.2% of Brazilians think the higher tariffs are unjustified while 36.8% agree with the measure. Even Bolsonaro's former vice president, Sen. Hamilton Mourão, criticized Trump's move as undue interference in Brazil's politics, though he said he agreed the trial against the far-right leader is biased against him. Social media analytics firm Palver analyzed 20,000 messages about Trump on WhatsApp, Brazil's most widely used communication platform, a day after Trump's announcement. Its analysis said right-wing users dominated viral content, but spontaneous conversations leaned left, mocking Bolsonaro as submissive and defending Brazil's sovereignty. 'Trump has put Lula back in the game,' said Thomas Traumann, an independent political consultant and former spokesman for the Brazilian presidency who only weeks ago argued that Lula had lost his front-runner status in the presidential race as he struggled to deliver on his promises on the economy. 'Trump handed it to Lula on a silver platter,' Traumann said. Business leaders who until recently sided with Bolsonaro are having to court Lula to negotiate with Trump. Agribusiness, Brazil's largest economic sector and a traditional right-wing stronghold, united to criticize the U.S. president's move. Industry groups were quick to denounce the tariffs as politically motivated and lacking any commercial justification. National outrage 'In general, with the major exception of a more radical conservative wing, (Trump's move) generated national outrage for violating Brazil's sovereignty,' lawmaker Arnaldo Jardim, a member of the congressional agricultural caucus, told The Associated Press. Jardim, who pushed for the approval of a reciprocity bill that could be used by Lula if there's no agreement until the Aug. 1 deadline, hardly sides with the president. 'Even among sectors that initially thought this could benefit Bolsonaro, many had to reconsider their positions,' he said. Top congressional leaders who recently helped nix a Lula decree to raise a transactions tax were moving toward a head-on collision with him. After Trump's announcement, they signed a joint statement agreeing with Lula's promise to use the reciprocity law against the U.S. In another change, Brazil's Congress decided to start moving on Lula's plan to give an income tax break to millions of poorer Brazilians. Many politicians said that such initiative was dead after Lula became the first president in three decades to have a decree annulled by lawmakers. Bolsonaro remains on trial At the Supreme Court, Bolsonaro is only getting deeper into trouble as his trial continues. Earlier this week, Brazil's chief prosecutor called for a guilty verdict, accusing the former president of leading an armed criminal organization, attempting to stage a coup and attempting violent abolition of the democratic rule of law, among other charges. The defense will next likely present its case in the coming weeks, after which the panel of Supreme Court justices in the trial will vote on whether to convict or acquit him. The former president also suffered more consequences — the court's latest restrictions on Bolsonaro, including the ankle monitor, are part of a second investigation against one of his sons, Eduardo Bolsonaro, a Brazilian lawmaker who currently lives in the United States and is known for his close ties to Trump. He has been under scrutiny for allegedly working with U.S. authorities to impose sanctions against Brazilian officials. Supreme Court Justice Alexandre de Moraes, who oversees criminal cases against Bolsonaro, said his and his son's actions attempted to pressure the Brazilian judiciary by involving the U.S. The court's decision cited both Trump's letter to Lula and several social media posts by the Bolsonaros in support of sanctions against Brazilian officials and speaking favorably about tariffs. 'A sovereign country like Brazil will always know how to defend its democracy and sovereignty,' de Moraes said. 'The judiciary will not allow any attempt to subject the functioning of the Supreme Court to the scrutiny of another state through hostile acts.' Jair Bolsonaro told journalists in Brasilia, the country's capital, that the ankle monitoring was a 'supreme humiliation.' 'I never thought about leaving Brazil, I never thought about going to an embassy, but the precautionary measures are because of that,' the former president said. In a statement, Eduardo Bolsonaro accused de Moraes of trying to criminalize Trump and the U.S. government. 'Since he has no power over them, he decided to make my father a hostage,' the younger Bolsonaro said of the judge. ___ Follow AP's coverage of Latin America and the Caribbean at
Cision Canada
a day ago
- Cision Canada
Montfort Capital Announces Reinstatement of Trading on TSXV
TORONTO, July 18, 2025 /CNW/ - Montfort Capital Corp. (TSXV: MONT) (" Montfort" or the " Company") is pleased to announce that the TSX Venture Exchange (the " TSXV" or the " Exchange") has accepted its application for reinstatement of trading of the Company's common shares on the TSXV. This follows the successful resolution of the Failure-to-File Cease Trade Orders (collectively, the " FFCTO") issued by the Ontario Securities Commission (the " OSC") on May 7, 2025 and June 5, 2025, and revoked on May 28, 2025 and June 12, 2025, respectively. The Company expects its common shares to be reinstated for trading shortly. The FFCTO was issued as a result of the delay in the filing of the Company's annual audited financial statements for the year ended December 31, 2024 (the " Late Annual Financial Statements"). The delay in filing the annual financial statements had a cascading effect which caused the Company to also be late in filing its interim financial statements for the three-month period ended March 31, 2025 (the " Late Interim Financial Statements" and together with the Late Annual Financial Statements, the " Late Financial Statements"). The Company filed the Late Annual Financial Statements on May 27, 2025 and filed the Late Interim Financial Statements on June 11, 2025, whereby the OSC automatically revoked the FFCTO. Upon the revocation of the FFCTO, the Company applied to the TSXV to have its Common Shares and Series A Class A Preferred Shares reinstated for trading. The Company acknowledges and appreciates the patience of its shareholders and stakeholders during this process and reaffirms its commitment to adhering to high standards of compliance and corporate governance. In addition to the announcement regarding the reinstatement of trading on the TSXV, the Company is providing an update on a number of matters, including the following: Related Party Loans Disclosure During the financial year ended December 31, 2023, lending subsidiaries of the Company issued unsecured demand promissory notes to Godsoe Financial Capital Corporation, an entity controlled by Michael Godsoe, former director and officer of Langhaus Financial Corporation, for aggregate gross proceeds of $1,175,000 to fund their lending activities (the " 2023 Related Party Notes"). The 2023 Related Party Notes are due in September 30, 2025 and yield an interest rate of TD Prime Rate plus 125 basis points per annum. During the financial year ended December 31, 2024, the Company and lending subsidiaries of the Company issued unsecured demand promissory notes to certain directors and officers of the Company for aggregate gross proceeds of $1,450,000 to fund their loan book (the " 2024 Related Party Notes"). The 2024 Related Party Notes represent less than 1.0% of the total consolidated indebtedness of the Company. The 2024 Related Party Notes are payable within 180 days of demand and yield an interest rate between 8% to 12% per annum. During the six months June 30, 2025, lending subsidiaries of the Company issued additional unsecured demand promissory notes to a certain director of the Company for aggregate gross proceeds of $350,000 for additional funding to their loan book (the " 2025 Related Party Notes" and together with the 2023 Related Party Notes and 2024 Related Party Notes, the " Related Party Notes"). The 2025 Related Party Notes are payable within 180 days of demand and yield an interest rate of 8 to 12% per annum. The Related Party Notes remain subject to TSXV acceptance. Amended Pivot General Facility Pivot Financial I Limited Partnership (" Pivot LP") entered into a 2 nd amended and restated credit agreement (the " Amended Pivot General Facility") dated August 2, 2024 with Cortland Credit Lending Corporation, as lender, with the Company, 2862454 Ontario Inc., Brightpath Capital Corporation, Langhaus Financial Corporation and Langhaus Financial Partners Inc., each continuing to act as guarantors. The loan commitment under the Amended Pivot General Facility is $22.75 million and US$3.0 million. The purpose of the Amended Pivot General Facility was to extend the maturity date to April 30, 2025, which was further extended to June 30, 2025. Pivot LP is currently working towards another extension of the Amended Pivot General Facility with Cortland Credit Lending Corporation. The Amended Pivot General Facility remains subject to TSXV acceptance. At the end of March 2025, Pivot LP was in breach of the Amended Pivot General Facility by breaching a financial covenant that limits its total advances to certain borrowers to $16.5 million. On April 23, 2025, Pivot LP rectified this covenant breach after receiving a $2.5 million principal payment from a borrower subject to the financial covenant under the Amended Pivot General Facility. Incite Capital Markets Agreement On May 1, 2020, the Company engaged Incite Capital Markets Inc., an arm's length firm (" Incite") to assist with corporate awareness and investor relations, which included developing communications strategies for Montfort. Incite received a fee of $8,000 plus applicable taxes per month for fiscal years 2020, 2021 and 2022 and the monthly fee was increased to $9,000 plus applicable taxes commencing January 1, 2023. The Company terminated services with Incite effective March 1, 2024. Incite and its principals hold approximately 3.0% of the issued and outstanding common shares in the capital of the Company. The engagement of Incite to provide investor relations services to the Company remains subject to TSXV acceptance. Incite is a Vancouver-based capital markets advisory corporation. Incite provides expertise in capital markets, corporate communications, and investor and media relations. In addition to strategic insights, Incite invests in small to mid-sized technology companies. For further information, please visit Langhaus LifeCo Securitization Facility Langhaus Insurance Finance LP III (" Langhaus LP III"), though its general partner, LIF GP III Corporation, as seller, entered into a master purchase and servicing agreement (the " LifeCo Facility") dated September 10, 2024 with a major Canadian life insurer (" LifeCo"), as purchaser and agent, whereby Langhaus LP III agreed to sell certain Payments and Related Assets (each as defined in the LifeCo Facility) (collectively, the " LifeCo Receivables") associated with insurance-backed loans originated by Langhaus Financial Corporation. To secure the payment of the LifeCo Receivables, Langhaus Financial Corporation, parent to Langhaus LP III and a subsidiary of the Company, pledged all accounts of Langhaus LP III, including records therefor and proceeds thereof, to the LifeCo. The LifeCo Facility has a purchase limit of $25,000,000 and includes a securitization factor of 92%. Langhaus MOU with Canadian Life Insurer In January 2025, Langhaus signed a memorandum of understanding (" MOU") with a major Canadian life insurance company to achieve certain business volume targets over a five-year period that commenced December 31, 2024. If volume targets have not been achieved by the end of the five-year period, Langhaus could be liable for a payment to the life insurance company of up to $2.1 million. Management estimates the business volume targets are achievable in the normal course of operations and the probability of a payment being required at the end of the five-year period is very low. As a result, no contingent liability is expected to be recorded in relation to this MOU. On Behalf of the Board of Directors: Ken Thomson, Director & Chief Executive Officer Montfort Capital Corp. Web: About Montfort Capital Montfort is a trusted provider of focused private credit strategies for institutional investors, family offices, and wealth managers. We employ focused strategies, experienced management teams and advanced technology to drive risk-adjusted investment returns. For further information, please visit 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. FORWARD-LOOKING INFORMATION This news release contains "forward-looking information" and "forward-looking statements" (collectively, " forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release may include statements about the time of the reinstatement of trading of the Company's securities on the TSXV and the extension to the Amended Pivot General Facility. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated that could affect the reinstatement of trading of the Company's securities on the TSXV and the ability for Pivot LP to extend the maturity date of the Amended Pivot General Facility. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. SOURCE Montfort Capital Corp.
Cision Canada
2 days ago
- Cision Canada
Federal, Provincial and Territorial Ministers of Agriculture meet to help strengthen the resilience and competitiveness of the sector Français
OTTAWA, ON, July 18, 2025 /CNW/ - Yesterday, federal, provincial and territorial (FPT) Ministers of Agriculture met virtually to discuss ways to support a more resilient and competitive agriculture sector and food supply chains that make up Canada's agri-food landscape. Ministers discussed possible measures to support the hard-working producers and processors across Canada to address the emerging challenges related to international trade and the potential opportunities that could be created by increased interprovincial trade. Ministers reiterated their commitment to enhancing the effectiveness of business risk management (BRM) programs. Due to the uncertain trade environment and unfavourable climate conditions in parts of the country, Ministers agreed to take the necessary steps to implement a package of enhancements to the AgriStability program. For the 2025 program year only, the compensation rate will be increased from 80% to 90% and the maximum payment limit will be increased from $3 million to $6 million. These changes are meant to help producers manage the risks they face. In addition, for AgriStability, starting in the 2026 program year, provinces and territories will have the option to use a new inventory valuation method for inventories destined to be used on-farm. Ministers agreed to seek the necessary approvals to include feed costs associated with rented pasture as an allowable expense in advance of the 2026 program year, report back on progress at the September annual meeting and to continue a review of AgriStability allowable expenses. FPT Ministers are working together to increase interprovincial trade of food. Ministers discussed a variety of options, including ways to remove barriers to internal food trade and identify new trade opportunities. Ministers also discussed enhanced client service support from the Canadian Food Inspection Agency (CFIA) for small to medium-sized businesses wishing to market food products across Canada under a federal food licence, increasing slaughter capacity where possible in regions with restricted access to services, and allowing interprovincial trade of low-risk manufactured foods without a federal licence. These ideas will be informed by the two ongoing pilots on meat trade and slaughter that are being accelerated. These initiatives aim to support business growth and improve market access, while maintaining Canada's robust food safety system. FPT Ministers highlighted the critical importance of joint efforts across governments to maintain, expand and diversify international market access. In support of this work, Ministers discussed the federal Indo-Pacific Agriculture and Agri-Food Office and other resources in the region. Ministers also emphasized the importance of engaging with China at the highest level, to improve the overall trade relationship and to remove Chinese tariffs on Canadian agriculture and seafood products. Ministers also underscored the benefits of existing trade agreements and emphasized the importance of considering the impact of tariffs on businesses. The annual conference of FPT Ministers of Agriculture will take place in-person in Winnipeg, Manitoba September 7-9, 2025. Quotes "Thanks to the hard work and dedication of our farmers, ranchers and food processors across the country, we've earned a reputation for producing the best products in the world. By working together across governments, we can continue to strengthen the resilience and competitiveness of our sector, drive economic growth, and help to ensure Canadian products continue to lead on quality, safety, and sustainability." - The Honourable Heath MacDonald, federal Minister of Agriculture and Agri-Food "The province of Manitoba strongly supports our agricultural producers, the backbone of the Manitoba economy. We remain committed to working with other levels of governments, private sector partners and other provinces to deliver programs that support food security, and sustainable practices to ensure the economic viability of farms. We will continue to work tirelessly to advocate for important programs that help producers manage environmental and market risks in a changing global political environment." - The Honourable Ron Kostyshyn, Manitoba Minister of Agriculture Quick facts Canada's global exports of agriculture and agri-food in 2024 overall was $92.2 billion in 2024, compared to $91.6 billion in 2023. In 2024, Canada exported nearly $100.3 billion globally in agri-food, fish and seafood products combined. In 2023, that number was $99.2 billion. Related products: SOURCE Agriculture and Agri-Food Canada
